Document:

Indenture governing Spectrum Brands' 9.5% Senior Secured Notes

 Exhibit 4.6 

 
  

SPECTRUM BRANDS, INC. 

as Issuer 

the Guarantors party hereto 

and 

US BANK NATIONAL ASSOCIATION 

as Trustee 
  

 
 Indenture 

 Dated as of June 16, 2010 
  

 
 9.500% 

 Senior Secured Notes 

Due 2018 
  

 

 CROSS-REFERENCE TABLE 

 

					
	 TIA Sections
	  	Indenture Sections
	 § 310
	 	(a)	  	7.10
		 	(b)	  	7.03, 7.08
	 § 311
	 		  	7.03
		 	(b)(4)	  	7.03
		 	(b)(6)	  	7.03
	 § 312
	 		  	12.02
	 § 313
	 	(a)(1) - (4)	  	7.06
		 	(b)	  	10.02
		 	(c)	  	7.05, 7.06
		 	(d)	  	7.06
	 § 315
	 	(a)	  	7.02
		 	(b)	  	7.02
		 	(c)	  	7.02
		 	(d)	  	7.02
	 § 316
	 	(c)	  	12.02

  

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	RECITALS	  	
		
	ARTICLE 1	  	
	DEFINITIONS AND INCORPORATION BY REFERENCE	  	
			
	 Section 1.01.
	  	Definitions	  	2
	 Section 1.02.
	  	Rules of Construction	  	37
		
	ARTICLE 2	  	
	THE NOTES	  	
			
	 Section 2.01.
	  	Form, Dating and Denominations; Legends	  	37
	 Section 2.02.
	  	Execution and Authentication; Exchange Notes; Additional Notes	  	39
	 Section 2.03.
	  	Registrar, Paying Agent and Authenticating Agent; Paying Agent to Hold Money in Trust	  	40
	 Section 2.04.
	  	Replacement Notes	  	41
	 Section 2.05.
	  	Outstanding Notes	  	41
	 Section 2.06.
	  	Temporary Notes	  	42
	 Section 2.07.
	  	Cancellation	  	42
	 Section 2.08.
	  	CUSIP and CINS Numbers	  	42
	 Section 2.09.
	  	Registration, Transfer and Exchange	  	43
	 Section 2.10.
	  	Restrictions on Transfer and Exchange	  	46
	 Section 2.11.
	  	Temporary Offshore Global Notes	  	48
		
	ARTICLE 3	  	
	REDEMPTION; OFFER TO PURCHASE	  	
			
	 Section 3.01.
	  	Optional Redemption	  	49
	 Section 3.02.
	  	Redemption with Proceeds of Equity Offering	  	49
	 Section 3.03.
	  	Method and Effect of Redemption	  	49
	 Section 3.04.
	  	Offer to Purchase	  	51
		
	ARTICLE 4	  	
	COVENANTS	  	
			
	 Section 4.01.
	  	Payment Of Notes	  	53
	 Section 4.02.
	  	Maintenance of Office or Agency	  	54
	 Section 4.03.
	  	Existence	  	54
	 Section 4.04.
	  	Payment of Taxes and other Claims	  	54
	 Section 4.05.
	  	Maintenance of Properties and Insurance	  	55
	 Section 4.06.
	  	Limitation on Incurrence of Indebtedness and Issuance of Preferred Stock	  	55
	 Section 4.07.
	  	Limitation on Restricted Payments	  	59
	 Section 4.08.
	  	Limitation on Liens	  	64

  

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	 Section 4.09.
	  	Limitation on Dividend and other Payment Restrictions Affecting Restricted Subsidiaries	  	64
	 Section 4.10.
	  	Guarantees	  	66
	 Section 4.11.
	  	Repurchase of Notes Upon a Change of Control	  	67
	 Section 4.12.
	  	Limitation on Asset Sales	  	68
	 Section 4.13.
	  	Limitation on Transactions with Affiliates	  	71
	 Section 4.14.
	  	Designation of Restricted and Unrestricted Subsidiaries	  	73
	 Section 4.15.
	  	Anti-Layering	  	75
	 Section 4.16.
	  	Reports	  	75
	 Section 4.17.
	  	Reports to Trustee	  	76
	 Section 4.18.
	  	Impairment of Security Interest; Further Assurances	  	76
	 Section 4.19.
	  	Limitation on Activities of Holdings	  	77
		
	ARTICLE 5	  	
	CONSOLIDATION, MERGER OR SALE OF ASSETS	  	
			
	 Section 5.01.
	  	Consolidation, Merger or Sale of Assets	  	77
		
	ARTICLE 6	  	
	DEFAULT AND REMEDIES	  	
			
	 Section 6.01.
	  	Events of Default	  	78
	 Section 6.02.
	  	Acceleration	  	80
	 Section 6.03.
	  	Other Remedies	  	80
	 Section 6.04.
	  	Waiver of Past Defaults	  	81
	 Section 6.05.
	  	Control by Majority	  	81
	 Section 6.06.
	  	Limitation on Suits	  	81
	 Section 6.07.
	  	Rights of Holders to Receive Payment	  	82
	 Section 6.08.
	  	Collection Suit by Trustee	  	82
	 Section 6.09.
	  	Trustee May File Proofs of Claim	  	82
	 Section 6.10.
	  	Priorities	  	83
	 Section 6.11.
	  	Restoration of Rights and Remedies	  	83
	 Section 6.12.
	  	Undertaking for Costs	  	83
	 Section 6.13.
	  	Rights and Remedies Cumulative	  	83
	 Section 6.14.
	  	Delay or Omission Not Waiver	  	84
	 Section 6.15.
	  	Waiver of Stay, Extension or Usury Laws	  	84
		
	ARTICLE 7	  	
	THE TRUSTEE	  	
			
	 Section 7.01.
	  	General	  	84
	 Section 7.02.
	  	Certain Rights of Trustee	  	85
	 Section 7.03.
	  	Individual Rights of Trustee	  	86
	 Section 7.04.
	  	Trustee’s Disclaimer	  	86
	 Section 7.05.
	  	Notice of Default	  	86
	 Section 7.06.
	  	Reports by Trustee to Holders	  	87

  

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	 Section 7.07.
	  	Compensation And Indemnity	  	87
	 Section 7.08.
	  	Replacement of Trustee	  	88
	 Section 7.09.
	  	Successor Trustee by Merger	  	89
	 Section 7.10.
	  	Eligibility	  	89
	 Section 7.11.
	  	Money Held in Trust	  	89
		
	ARTICLE 8	  	
	LEGAL DEFEASANCE AND COVENANT DEFEASANCE; SATISFACTION
AND DISCHARGE	  	
			
	 Section 8.01.
	  	Option to Effect Legal Defeasance or Covenant Defeasance	  	89
	 Section 8.02.
	  	Legal Defeasance and Discharge	  	90
	 Section 8.03.
	  	Covenant Defeasance	  	90
	 Section 8.04.
	  	Conditions to Legal Defeasance or Covenant Defeasance	  	91
	 Section 8.05.
	  	Satisfaction and Discharge of Indenture	  	92
	 Section 8.06.
	  	Survival of Certain Obligations	  	93
	 Section 8.07.
	  	Acknowledgment of Discharge by Trustee	  	93
	 Section 8.08.
	  	Deposited Money and Cash Equivalents to Be Held in Trust; Other Miscellaneous Provisions	  	93
	 Section 8.09.
	  	Repayment to Company	  	94
	 Section 8.10.
	  	Indemnity for Government Securities	  	94
	 Section 8.11.
	  	Reinstatement	  	94
		
	ARTICLE 9	  	
	AMENDMENT, SUPPLEMENT AND WAIVERS	  	
			
	 Section 9.01.
	  	Amendments Without Consent of Holders	  	95
	 Section 9.02.
	  	Amendments With Consent of Holders	  	96
	 Section 9.03.
	  	Compliance with Trust Indenture Act	  	98
	 Section 9.04.
	  	Revocation and Effect of Consents	  	98
	 Section 9.05.
	  	Notation on or Exchange of Notes	  	98
	 Section 9.06.
	  	Trustee to Sign Amendments, Etc.	  	98
		
	ARTICLE 10	  	
	SECURITY ARRANGEMENTS	  	
			
	 Section 10.01.
	  	Collateral Trustee	  	99
	 Section 10.02.
	  	Security	  	99
	 Section 10.03.
	  	Asset Sales Proceeds Account	  	100
	 Section 10.04.
	  	Authorization of Actions to be Taken	  	101
	 Section 10.05.
	  	Determinations Relating to Collateral	  	102
	 Section 10.06.
	  	Release of Liens	  	102
	 Section 10.07.
	  	Agreement for the Benefit of Holders of First Priority Liens on Secondary Collateral	  	105
	 Section 10.08.
	  	Notes And Note Guarantees Not Subordinated	  	106

  

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	ARTICLE 11	  	
	GUARANTEES	  	
			
	 Section 11.01.
	  	The Guarantees	  	106
	 Section 11.02.
	  	Guarantee Unconditional	  	106
	 Section 11.03.
	  	Discharge; Reinstatement	  	107
	 Section 11.04.
	  	Waiver by the Guarantors	  	107
	 Section 11.05.
	  	Subrogation and Contribution	  	107
	 Section 11.06.
	  	Stay of Acceleration	  	108
	 Section 11.07.
	  	Limitation on Amount of Guarantee	  	108
	 Section 11.08.
	  	Execution and Delivery of Guarantee	  	108
	 Section 11.09.
	  	Release of Guarantee	  	108
		
	ARTICLE 12	  	
	MISCELLANEOUS	  	
			
	 Section 12.01.
	  	Trust Indenture Act of 1939	  	109
	 Section 12.02.
	  	Noteholder Communications; Noteholder Actions	  	109
	 Section 12.03.
	  	Notices	  	110
	 Section 12.04.
	  	Certificate and Opinion as to Conditions Precedent	  	111
	 Section 12.05.
	  	Statements Required in Certificate or Opinion	  	111
	 Section 12.06.
	  	Payment Date Other Than a Business Day	  	111
	 Section 12.07.
	  	Governing Law	  	112
	 Section 12.08.
	  	No Adverse Interpretation of Other Agreements	  	112
	 Section 12.09.
	  	Successors	  	112
	 Section 12.10.
	  	Duplicate Originals	  	112
	 Section 12.11.
	  	Separability	  	112
	 Section 12.12.
	  	Table of Contents and Headings	  	112
	 Section 12.13.
	  	No Liability of Directors, Officers, Employees and Stockholders	  	112
	 Section 12.14.
	  	Benefits of Indenture	  	112
	 Section 12.15.
	  	Rules by Trustee and Agents	  	112

  

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		  	EXHIBITS
	 EXHIBIT A
	  	Form of Note
	 EXHIBIT B
	  	Form of Supplemental Indenture
	 EXHIBIT C
	  	Restricted Legend
	 EXHIBIT D
	  	DTC Legend
	 EXHIBIT E
	  	Regulation S Certificate
	 EXHIBIT F
	  	Rule 144A Certificate
	 EXHIBIT G
	  	Institutional Accredited Investor Certificate
	 EXHIBIT H
	  	Certificate of Beneficial Ownership
	 EXHIBIT I
	  	Temporary Offshore Global Note Legend
	 EXHIBIT J
	  	Form of Intercreditor Agreement
	 EXHIBIT K
	  	Form of Collateral Trust Agreement
	 EXHIBIT L
	  	Forms of Other Security Documents

  

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 INDENTURE, dated as of June 16, 2010, between Spectrum Brands, Inc., a Delaware
corporation, as the Company, the Guarantors party hereto and US Bank National Association, as Trustee. 
 RECITALS

 The Company has duly authorized the execution and delivery of the Indenture to provide for the issuance of up to
$750,000,000 aggregate principal amount of the Company’s 9.500% Senior Secured Notes Due 2018, and, if and when issued, any Additional Notes, together with any Exchange Notes issued therefor as provided herein (the “Notes”).
All things necessary to make the Indenture a valid agreement of the Company, in accordance with its terms, have been done, and the Company has done all things necessary to make the Notes (in the case of the Additional Notes, when duly authorized),
when executed by the Company and authenticated and delivered by the Trustee and duly issued by the Company, the valid obligations of the Company as hereinafter provided. 

In addition, the Guarantors party hereto have duly authorized the execution and delivery of the Indenture as guarantors of the Notes. All
things necessary to make the Indenture a valid agreement of each Guarantor, in accordance with its terms, have been done, and each Guarantor has done all things necessary to make the Note Guarantees, when the Notes are executed by the Company and
authenticated and delivered by the Trustee and duly issued by the Company, the valid obligations of such Guarantor as hereinafter provided. 

Except as set forth herein, this Indenture is subject to, and will be governed by, the provisions of the Trust Indenture Act that are
required to be a part of and govern indentures qualified under the Trust Indenture Act. 

 THIS INDENTURE WITNESSETH 

For and in consideration of the premises and the purchase of the Notes by the Holders thereof, the parties hereto covenant and agree, for
the equal and proportionate benefit of all Holders, as follows: 
 ARTICLE 1 

DEFINITIONS AND INCORPORATION BY REFERENCE 

Section 1.01. Definitions.  

“Acquired Debt” means, with respect to any specified Person: 

(1) Indebtedness of any other Person existing at the time such other Person is merged with or into, or becomes a Subsidiary of, such
specified Person, whether or not such Indebtedness is incurred in connection with, or in contemplation of, such other Person merging with or into, or becoming a Subsidiary of, such specified Person; and 

(2) Indebtedness secured by a Lien encumbering any asset acquired by such specified Person. 

“Additional Interest” means additional interest owed to the Holders pursuant to a Registration Rights Agreement.

 “Additional Notes” means any notes issued under the Indenture in addition to the Original Notes, including
any Exchange Notes issued in exchange for such Additional Notes, having the same terms in all respects as the Original Notes, or in all respects except with respect to issue price and interest accrued on or prior to the issue date thereof.

 “Affiliate” of any specified Person means any other Person directly or indirectly controlling or controlled
by or under direct or indirect common control with such specified Person. For purposes of this definition, “control,” as used with respect to any Person, shall mean the possession, directly or indirectly, of the power to direct or cause
the direction of the management or policies of such Person, whether through the ownership of voting securities, by agreement or otherwise. For purposes of this definition, the terms “controlling,” “controlled by” and “under
common control with” shall have correlative meanings; provided further that Paula Grundstücksverwaltungsgesellschaft mbH & Co. Vermietungs-KG, Mannheim shall not be deemed an Affiliate of the Company or any of its
Restricted Subsidiaries solely by virtue of the beneficial ownership by the Company or its Restricted Subsidiaries of up to 20% of the Voting Stock of such entity. 

“Affiliate Transaction” has the meaning assigned to such term in Section 4.13. 

“Agent” means any Registrar, Paying Agent, Collateral Trustee or Authenticating Agent. 

“Agent Member” means a member of, or a participant in, the Depositary. 

 

 2 

 “Applicable Authorized Representative” has the meaning assigned to such
term in the Collateral Trust Agreement. 
 “Applicable Premium” means, with respect to any Note on any
redemption date, the greater of (1) 1.0% of the principal amount of such Note; or (2) the excess of (a) the present value at such redemption date of (i) the redemption price of such Note at June 15, 2014 (as stated in the
table in Section 3.01), plus (ii) all required interest payments due on such Note through June 15, 2014 excluding accrued but unpaid interest to the applicable redemption date, computed using a discount rate equal to the Treasury Rate
as of such redemption date plus 50 basis points; over (b) the principal amount of the Note. 
 “Asset
Sale” means: 
 (1) the sale, lease, conveyance or other disposition of any property or assets of the Company or any
Restricted Subsidiary; provided that the sale, conveyance or other disposition of all or substantially all of the assets of the Company and its Restricted Subsidiaries taken as a whole will be governed by Section 4.11 and/or Article 5
and not by Section 4.12; and 
 (2) the issuance of Equity Interests (other than directors’ qualifying shares) by any
of the Company’s Restricted Subsidiaries or the sale by the Company or any Restricted Subsidiary of Equity Interests (other than directors’ qualifying shares) in any of its Subsidiaries. 

Notwithstanding the preceding, the following are not included in the definition of “Asset Sale”: 

(1) any single transaction or series of related transactions that involves assets having a fair market value of less than
$15.0 million; 
 (2) a transfer of assets between or among the Company and its Restricted Subsidiaries;

 (3) an issuance of Equity Interests by a Restricted Subsidiary to the Company or to another Restricted
Subsidiary; 
 (4) the sale, lease, assignment or other disposition of equipment, inventory, accounts receivable
or other assets in the ordinary course of business and any other non-recourse factoring of accounts receivable pursuant to a factoring program sponsored by a retailer of national standing in partnership with a financial institution; 

(5) the sale or other disposition of Cash Equivalents; 

(6) a Permitted Investment or Restricted Payment that is permitted by Section 4.07; 

 

 3 

 (7) any sale or disposition of any property or equipment that has become
damaged, worn out, obsolete or otherwise unsuitable or no longer required for use in the ordinary course of the business of the Company or its Restricted Subsidiaries; 

(8) the licensing of intellectual property in the ordinary course of business; 

(9) any sale or other disposition deemed to occur with creating or granting a Lien not otherwise prohibited by the
Indenture; 
 (10) any surrender or waiver of contract rights pursuant to a settlement, release, recovery on or
surrender of contract, tort or other claims of any kind; 
 (11) foreclosure or any similar action with respect
to any property or other asset of the Company or any of its Restricted Subsidiaries not constituting Collateral, which foreclosure or other similar action does not otherwise constitute a Default; 

(12) to the extent allowable under Section 1031 of the Internal Revenue Code of 1986, any exchange of like property
(excluding any boot thereon) for use in a Permitted Business; provided that if any property so disposed of is Collateral, the Company will provide Liens on such exchanged for like property under the Security Documents with the same or higher
priority (except as permitted by clause (4) under the definition of “Permitted Investment”); and 

(13) the unwinding of any Hedging Obligation. 

“Asset Sales Proceeds Account” has the meaning assigned to such term in Section 10.03. 

“Authenticating Agent” refers to a Person engaged to authenticate the Notes in the stead of the Trustee. 

“Beneficial Owner” has the meaning assigned to such term in Rule 13d-3 and Rule 13d-5 under the Exchange Act, except
that in calculating the beneficial ownership of any particular “person” (as that term is used in Section 13(d)(3) of the Exchange Act), such “person” shall be deemed to have beneficial ownership of all securities that such
“person” has the right to acquire by conversion or exercise of other securities, whether such right is currently exercisable or is exercisable only upon the occurrence of a subsequent condition. The terms “Beneficially Owns” and
“Beneficially Owned” shall have a corresponding meaning. 
  

 4 

 “Board of Directors” means: 

(1) with respect to a corporation, the board of directors of the corporation or any duly authorized committee thereof having the
authority of the full board with respect to the determination to be made; 
 (2) with respect to a limited liability company,
any managing member thereof or, if managed by managers, the board of managers thereof, or any duly authorized committee thereof having the authority of the full board with respect to the determination to be made; 

(3) with respect to a partnership, the Board of Directors of the general partner of the partnership; and 

(4) with respect to any other Person, the board or committee of such Person serving a similar function. 

“Board Resolution” means a resolution duly adopted by the Board of Directors which is certified by the Secretary or an
Assistant Secretary of the Company and remains in full force and effect as of the date of its certification. 

“Business Day” means any day except a Saturday, Sunday or other day on which commercial banks in New York City or in the
city where the Corporate Trust Office of the Trustee is located are authorized by law to close. 
 “Capital Lease
Obligation” means, at the time any determination thereof is to be made, the amount of the liability in respect of a capital lease that would at that time be required to be capitalized on a balance sheet in accordance with GAAP. 

“Capital Stock” means: 

(1) in the case of a corporation, corporate stock; 

(2) in the case of an association or business entity, any and all shares, interests, participations, rights or other equivalents (however
designated) of corporate stock; 
 (3) in the case of a partnership or limited liability company, partnership or membership
interests (whether general or limited); and 
 (4) any other interest or participation that confers on a Person the right to
receive a share of the profits and losses of, or distributions of assets of, the issuing Person. 
 “Cash
Equivalents” means (a) United States dollars, Euros, British Pounds Sterling or any other currencies received in the ordinary course of business; (b) securities issued or directly and fully guaranteed or insured by the United
States government or any agency or instrumentality thereof (provided that 
  

 5 

 
the full faith and credit of the United States is pledged in support thereof) having maturities of not more than one year from the date of acquisition; (c) time deposits, certificates of
deposit and eurodollar time deposits with maturities of one year or less from the date of acquisition, bankers’ acceptances with maturities not exceeding one year and overnight bank deposits, in each case, with any bank or trust company
organized or licensed under the laws of the United States or any state thereof or the District of Columbia whose short-term debt is rated “A-2” or higher by S&P or “P-2” or higher by Moody’s; (d) repurchase
obligations with a term of not more than seven days for underlying securities of the types described in clauses (b) and (c) above entered into with any financial institution meeting the qualifications specified in clause (c) above;
(e) commercial paper having at least a “P-1” rating from Moody’s or “A-1” from S&P and in each case maturing within nine months after the date of acquisition; (f) 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 having the highest ratings obtainable from Moody’s or S&P and maturing within six months from the date of acquisition
thereof; (g) money market funds at least 95% of the assets of which constitute Cash Equivalents of the kinds described in clauses (a) through (f) of this definition; and (h) in the case of a Foreign Subsidiary, substantially
similar investments, of comparable credit quality, denominated in local currency held by such Foreign Subsidiary from time to time in the ordinary course of business. 

“Cash Management Obligations” means, with respect to any Person, all obligations, whether now owing or hereafter
arising, of such Person in respect of overdrafts and related liabilities or arising from (i) services in connection with operating, collections, payroll, trust or other depository or disbursement accounts, including automated clearinghouse,
e-payable, electronic funds transfer, wire transfer, controlled disbursement, overdraft, depository, information reporting, lockbox or stop payment services, (ii) commercial credit card and merchant card services; and (iii) other banking
products or services (other than letters of credit and leases). 
 “Certificate of Beneficial Ownership” means
a certificate substantially in the form of Exhibit H. 
 “Certificated Note” means a Note in registered
individual form without interest coupons. 
 “Change of Control” means the occurrence of any of the following:

 (1) the direct or indirect sale, transfer, conveyance or other disposition (other than by way of merger or consolidation), in
one or a series of related transactions, of all or substantially all of the properties or assets of the Company and its Restricted Subsidiaries, taken as a whole, to any “person” (as that term is used in Section 13(d)(3) of the
Exchange Act) other than a Permitted Holder; 
  

 6 

 (2) the adoption of a plan relating to the liquidation or dissolution of the Company;

 (3) any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Exchange Act)
becomes the ultimate Beneficial Owner, directly or indirectly, of 35% or more of the voting power of the Voting Stock of the Company or Holdings other than a Permitted Holder; provided that such event shall not be deemed a Change of Control
so long as one or more Permitted Holders shall Beneficially Own more of the voting power of the Voting Stock of the Company or Holdings than such person or group; 

(4) the first day on which a majority of the members of the Board of Directors of the Company or Holdings are not Continuing Directors;

 (5) Holdings ceases to directly own all Capital Stock of the Company; or 

(6) so long as the Existing Subordinated Notes are outstanding, any “change of control” as defined therein occurs. 

For purposes of this definition, (i) any direct or indirect holding company of the Company (including Holdings) shall not itself be
considered a Person for purposes of clauses (3) or (5) above or a “person” or “group” for purposes of clauses (3) or (5) above, provided that no “person” or “group” (other than the
Permitted Holders or another such holding company) Beneficially Owns, directly or indirectly, more than 50% of the voting power of the Voting Stock of such company, and a majority of the Voting Stock of such holding company immediately following it
becoming the holding company of the Company is Beneficially Owned by the Persons who Beneficially Owned the voting power of the Voting Stock of the Company immediately prior to it becoming such holding company and (ii) a Person shall not be
deemed to have beneficial ownership of securities subject to a stock purchase agreement, merger agreement or similar agreement until the consummation of the transactions contemplated by such agreement. 

“Change of Control Offer” has the meaning assigned to such term in Section 4.11. 

“Change of Control Payment” has the meaning assigned to such term in Section 4.11. 

“Change of Control Payment Date” has the meaning assigned to such term in Section 4.11. 

“Code” means the Internal Revenue Code of 1986, as amended, or any successor statute thereto. 

“Collateral” means the Primary Collateral and the Secondary Collateral. 

 

 7 

 “Collateral Trustee” means Wells Fargo Bank, National Association, in its
capacity as the Collateral Trustee, or any collateral agent or trustee appointed pursuant to the Collateral Trust Agreement. 

“Collateral Trust Agreement” means the collateral trust agreement (in the form attached as Exhibit K hereto) dated as of
the Issue Date among the Collateral Trustee, the Trustee and the Term Loan Agent, as amended from time to time. 

“Collateral Requirement” means the requirement that: 

(1) all documents and instruments, including Uniform Commercial Code financing statements and mortgages, required by law to be filed,
registered or recorded to create the Liens intended to be created by the Security Documents and perfect or record such Liens as valid Liens with priority set forth in the Security Documents free of any other Liens except for Permitted Liens, shall
have been filed, registered or recorded; and 
 (2) the Collateral Trustee shall have received, with respect to each real
property interest required to be subject to a mortgage pursuant to Section 10.02, counterparts of a mortgage in form satisfactory to the Collateral Trustee, duly executed and delivered by the record owner of such mortgaged property, a
lender’s title insurance policy insuring the lien of each mortgage, an existing survey of the mortgaged property and the Opinions of Counsel required pursuant to Section 10.02(b). 

“Commission” means the Securities and Exchange Commission. 

“Company” means the party named as such in the first paragraph of the Indenture or any successor obligor under the
Indenture and the Notes pursuant to Article 5. 
 “Consolidated Cash Flow” means, with respect to any specified
Person for any period, the Consolidated Net Income of such Person for such period plus, without duplication: 
 (a) provision
for taxes based on income or profits of such Person and its Restricted Subsidiaries for such period, to the extent that such provision for taxes was deducted in computing such Consolidated Net Income; plus 

(b) Fixed Charges of such Person and its Restricted Subsidiaries for such period, to the extent that any such Fixed Charges were deducted
in computing such Consolidated Net Income; plus 
  

 8 

 (c) depreciation, amortization (including amortization of goodwill and other intangibles but
excluding amortization of prepaid cash expenses that were paid in a prior period) and other non-cash expenses (excluding any such non-cash expense to the extent that it represents an accrual of or reserve for cash expenses in any future period or
amortization of a prepaid cash expense that was paid in a prior period) of such Person and its Restricted Subsidiaries for such period to the extent that such depreciation, amortization and other non-cash expenses were deducted in computing such
Consolidated Net Income; plus 
 (d)(i) unusual or non-recurring charges, (ii) relocation costs, restructuring
charges and integration costs or reserves (including such items related to proposed and completed acquisitions and Asset Sales and to closure/consolidation of facilities), and including without limitation restructuring charges related to the
Transactions incurred prior to or within 36 months of the Issue Date, (iii) Transaction Expenses and (iv) severance costs, including such costs related to proposed and completed Permitted Investments and Asset Sales and to
closure/consolidation of facilities, in each case incurred by the Company and its Restricted Subsidiaries; minus 
 (e)
non-cash items increasing such Consolidated Net Income for such period, other than the accrual of revenue consistent with past practice, 
 in
each case, on a consolidated basis and determined in accordance with GAAP. 
 “Consolidated Net Income” means,
with respect to any specified Person for any period, the aggregate of the Net Income of such Person and its Subsidiaries for such period, on a consolidated basis, determined in accordance with GAAP; provided that: 

(1) the Net Income (but not loss) of any Person that is not a Restricted Subsidiary or that is accounted for by the equity method of
accounting shall be included only to the extent of the amount of dividends or distributions paid in cash to the specified Person or a Restricted Subsidiary thereof; 

(2) the Net Income of any Restricted Subsidiary (other than a Guarantor) shall be excluded to the extent that the declaration or payment
of dividends or similar distributions by that Restricted Subsidiary of that Net Income is not at the date of determination permitted without any prior governmental approval (that has not been obtained) or, directly or indirectly, by operation of the
terms of its charter or any agreement, instrument, judgment, decree, order, statute, rule or governmental regulation applicable to that Restricted Subsidiary or its equityholders; 

(3) the Net Income of any Person acquired during the specified period for any period prior to the date of such acquisition shall be
excluded; 
 (4) the cumulative effect of a change in accounting principles shall be excluded; 

 

 9 

 (5) notwithstanding clause (1) above, the Net Income (but not loss) of any Unrestricted
Subsidiary shall be excluded, whether or not distributed to the specified Person or one of its Subsidiaries; 
 (6)
(a) unrealized gains and losses due solely to fluctuations in currency values and the related tax effects according to GAAP shall be excluded (until realized, at which time such gains or losses shall be included); and (b) unrealized gains
and losses with respect to Hedging Obligations shall be excluded (until realized, at which time such gains or losses shall be included); 

(7) any non-cash charge or expense realized or resulting from stock option plans, employee benefit plans or post-employment benefit
plans, or grants or sales of stock, stock appreciation or similar rights, stock options, restricted stock, Preferred Stock or other rights shall be excluded; 

(8) (a)(i) the non-cash portion of “straight-line” rent expense less (ii) the cash portion of “straight-line”
rent expense which exceeds the amount expensed in respect of such rent expense shall be excluded and (b) non-cash gains, losses, income and expenses resulting from fair value accounting required by the applicable standard under GAAP and related
interpretations shall be excluded (until realized, at which time such gains or losses shall be included); 
 (9) expenses with
respect to liability or casualty events or business interruption shall be excluded to the extent covered by insurance and actually reimbursed, or, so long as such Person has made a determination that there exists reasonable evidence that such amount
will in fact be reimbursed by the insurer and only to the extent that such amount is (a) approved by the applicable carrier in writing within 180 days and (b) in fact reimbursed within 365 days of the date of such evidence (with a
deduction for any amount so added back to the extent not so reimbursed within 365 days); and 
 (10) any non-cash impairment
charges resulting from the application of FASB ASC 350, Intangibles — Goodwill and Other, and the amortization of intangibles arising pursuant to FASB ASC 805, Business Combinations, shall be excluded. 

“Consolidated Net Tangible Assets” of any Person means, as of any date, the amount which, in accordance with GAAP, would
be set forth under the caption “Total Assets” (or any like caption) on a consolidated balance sheet of such Person and its Restricted Subsidiaries (or, in the case of a group of Foreign Subsidiaries, on a combined basis), as of the end of
the most recently ended fiscal quarter for which internal financial statements are available, less (1) all intangible assets, including, without limitation, goodwill, organization costs, patents, trademarks, copyrights, franchises, and research
and development costs and (2) current liabilities. 
  

 10 

 “Continuing Directors” means, as of any date of determination, any member
of the Board of Directors of the Company or Holdings who: 
 (1) was a member of such Board of Directors on the Issue Date or

 (2) was nominated for election or elected to such Board of Directors with the approval of the Permitted Holders or a majority
of the Continuing Directors who were members of such Board of Directors at the time of such nomination or election. 

“Corporate Trust Office” means the office of the Trustee at which the corporate trust business of the Trustee is
principally administered, which at the date of the Indenture is located at 150 Fourth Avenue North, 2nd Floor, Nashville, Tennessee 37219. 

“Covenant Defeasance” has the meaning assigned to such term in Section 8.03. 

“Credit Facilities” means, one or more debt facilities (including, without limitation, the Revolving Credit Agreement
and the Term Loan Agreement), or commercial paper facilities with banks or other institutional lenders or investors or indentures or other agreements providing for revolving credit loans, term loans, debt securities, receivables financing (including
through the sale of receivables to such lenders or to special purpose entities formed to borrow from such lenders against such receivables) or letters of credit or other long-term indebtedness and, in each case, as such agreements may be amended,
amended and restated, supplemented, modified, refinanced, extended, substituted, replaced, renewed, or otherwise restructured, in whole or in part, in one or more instances, from time to time (including any successive renewals, extensions,
substitutions, refinancings, restructurings, replacements, supplementations or other modifications of the foregoing and including any amendment increasing the amount of Indebtedness incurred or available to be borrowed thereunder, extending the
maturity of any Indebtedness incurred thereunder or contemplated thereby or deleting, adding or substituting one or more parties thereto (whether or not such added or substituted parties are banks or other lenders)), including into one or more debt
facilities, commercial paper facilities or other debt instruments, indentures or agreements (including by means of sales of debt securities (including Additional Notes) to investors), providing for revolving credit loans, term loans, letters of
credit or other debt obligations. 
 “Default” means any event that is, or with the passage of time or the
giving of notice or both would be, an Event of Default. 
 “Depositary” means the depositary of each Global
Note, which will initially be DTC. 
  

 11 

 “Designated Non-cash Consideration” means any non-cash consideration
received by the Company or one of its Restricted Subsidiaries in connection with an Asset Sale that is designated as Designated Non-cash Consideration pursuant to an Officer’s Certificate executed by an Officer of the Company or such Restricted
Subsidiary at the time of such Asset Sale. 
 “Disqualified Stock” means any Capital Stock that, by its terms
(or by the terms of any security into which it is convertible, or for which it is exchangeable, in each case at the option of the holder thereof), or upon the happening of any event, matures or is mandatorily redeemable, pursuant to a sinking fund
obligation or otherwise, or redeemable at the option of the holder thereof, in whole or in part, on or prior to the date that is 91 days after the date that is the earlier date on which the Notes mature and the date the Notes are no longer
outstanding, except to the extent such Capital Stock is solely redeemable with, or solely exchangeable for, any Equity Interests of the Company that are not Disqualified Stock; provided that if such Capital Stock is issued to any plan for the
benefit of employees of the Company or its Subsidiaries or by any such plan to such employees, such Capital Stock shall not constitute Disqualified Stock solely because it may be required to be repurchased by the Company or its Subsidiaries in order
to satisfy applicable statutory or regulatory obligation; provided, further, that any Capital Stock held by any future, present or former employee, director, officer, manager or consultant (or their estates, spouses or former spouses) of the
Company, any of its Subsidiaries or any of its direct or indirect parent companies pursuant to any stockholders agreement, management equity plan or stock option plan or any other management or employee benefit plan or agreement shall not constitute
Disqualified Stock solely because it may be required to be repurchased by the Company or its Subsidiaries following the termination of employment of such employee, director, officer, manager or consultant with the Company or any of its Subsidiaries
(so long as, in each case referred to in this sentence, any such requirement is made subject to compliance with the Indenture). Notwithstanding the preceding sentence, any Capital Stock that would constitute Disqualified Stock solely because the
holders thereof have the right to require the Company to repurchase such Capital Stock upon the occurrence of a change of control or an asset sale shall not constitute Disqualified Stock if the terms of such Capital Stock provide that the Company
may not repurchase or redeem any such Capital Stock pursuant to such provisions unless such repurchase or redemption complies with Section 4.07. The term “Disqualified Stock” shall also include any options, warrants or other rights
that are convertible into Disqualified Stock or that are redeemable at the option of the holder, or required to be redeemed, prior to the date that is 91 days after the date on which the Notes mature. 

“DTC” means The Depository Trust Company, a New York corporation, and its successors. 

“DTC Legend” means the legend set forth in Exhibit D. 

 

 12 

 “Domestic Subsidiary” means any Restricted Subsidiary of the Company other
than a Restricted Subsidiary that is (1) a “controlled foreign corporation” under Section 957 of the Internal Revenue Code or (2) a Subsidiary of any such controlled foreign corporation. 

“Equity Interests” means Capital Stock and all warrants, options or other rights to acquire Capital Stock (but excluding
any debt security that is convertible into, or exchangeable for, Capital Stock). 
 “Equity Offering” means a
primary offering, after the Issue Date, of Qualified Stock of the Company or of Holdings or any direct or indirect parent of Holdings (to the extent the proceeds thereof are contributed to the common equity of the Company) other than an issuance
registered on Form S-4 or S-8 or any successor thereto or any issuance pursuant to employee benefit plans or otherwise in compensation to officers, directors or employees. 

“Event of Default” has the meaning assigned to such term in Section 6.01. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended. 

“Exchange Notes” means the Notes of the Company issued pursuant to the Indenture in exchange for, and in an aggregate
principal amount equal to, the Initial Notes or any Initial Additional Notes in compliance with the terms of a Registration Rights Agreement and containing terms substantially identical to the Initial Notes or any Initial Additional Notes (except
that (i) such Exchange Notes will be registered under the Securities Act and will not be subject to transfer restrictions or bear the Restricted Legend, and (ii) the provisions relating to Additional Interest will be eliminated).

 “Exchange Offer” means an offer by the Company to the Holders of the Initial Notes or any Initial Additional
Notes to exchange outstanding Notes for Exchange Notes, as provided for in a Registration Rights Agreement. 
 “Exchange
Offer Registration Statement” means the Exchange Offer Registration Statement as defined in a Registration Rights Agreement. 

“Excluded Property” means 

(i) motor vehicles the perfection of a security interest in which is excluded from the Uniform Commercial Code in the relevant
jurisdiction; 
 (ii) voting Equity Interests in any Foreign Subsidiary, to the extent (but only to the extent) required to
prevent the Collateral from including more than 65% of all voting Equity Interests in such Foreign Subsidiary; 
  

 13 

 (iii) any interest in a joint venture or non-Wholly Owned Subsidiary to the extent and for
so long as the attachments of security interest created hereby therein would violate any joint venture agreement, organizational document, shareholders agreement or equivalent agreement relating to such joint venture or Subsidiary; 

(iv) any rights of the Company or any Guarantor in any contract, license, right or other agreement if under the terms thereof, or any
applicable law with respect thereto, the valid grant of a security interest therein to the Collateral Trustee is prohibited and such prohibition has not been waived or the consent of the other party to such contract or license has not been obtained
or, under applicable law, such prohibition cannot be waived, provided however that “Excluded Property” shall not be interpreted (i) to apply to any contract or license to the extent the applicable prohibition is ineffective or
unenforceable under the UCC (including Sections 9-406 through 9-409) or any other applicable law, or (ii) so as to limit, impair or otherwise affect Collateral Trustee’s unconditional continuing security interest in and Lien upon any
rights or interests of the Company or such Guarantor in or to moneys due or to become due under any such contract or license (including any accounts); 

(v) other property that the Applicable Authorized Representative may determine from time to time that the cost of obtaining a Lien
thereon exceeds the benefits of obtaining such a Lien; 
 (vi) any part of the Collateral that is secured by a Lien of the type
described in clause (20) of the definition of Permitted Liens securing Indebtedness incurred pursuant to clause (b)(4) of Permitted Debt, where the terms of such Indebtedness (or of the Lien securing such Indebtedness) prohibit the existence of
a junior Lien on the applicable property; provided, that immediately upon the ineffectiveness, lapse or termination of any such restriction, such property will cease to be Excluded Property; 

(vii) deposit accounts, the balance of which consists exclusively of (a) withheld income taxes and federal, state, local and foreign
employment taxes in such amounts as are required, in the reasonable judgment of the Company, to be paid to the IRS or any other applicable governmental authority within the following three (3) months with respect to employees of the Company or
any Guarantor and (b) amounts required to be paid over to an employee benefit plan pursuant to DOL Reg. Sec. 2510.3-102 or any Foreign Plan (as defined in the Term Loan Credit Agreement) on behalf of or for the benefit of employees of the
Company or any Guarantor; and 
 (viii) any intent-to-use U.S. trademark application to the extent that, and solely during the
period in which, grant of a security interest therein would impair the validity or enforceability of such intent-to-use trademark application or the mark that is the subject of such application under applicable federal law. 

 

 14 

 “Existing Indebtedness” means the aggregate principal amount of
Indebtedness of the Company and its Subsidiaries (other than Indebtedness under the Revolving Credit Agreement and the Term Loan Agreement) in existence on the Issue Date, until such amounts are repaid. 

“Existing Subordinated Notes” means the Company’s 12% Senior Subordinated Notes due 2019 outstanding on the Issue
Date. 
 “fair market value” means the price that would be paid in an arm’s-length transaction between an
informed and willing seller under no compulsion to sell and an informed and willing buyer under no compulsion to buy, as determined in good faith by the Board of Directors, whose determination shall be conclusive if evidenced by a resolution of the
Board of Directors. 
 “Fixed Charge Coverage Ratio” means with respect to any specified Person for any period,
the ratio of the Consolidated Cash Flow of such Person for such period to the Fixed Charges of such Person for such period. In the event that the specified Person or any of its Subsidiaries incurs, assumes, Guarantees, repays, retires, extinguishes,
repurchases or redeems any Indebtedness or issues, repurchases or redeems Disqualified Stock or Preferred Stock subsequent to the commencement of the period for which the Fixed Charge Coverage Ratio is being calculated and on or prior to the date on
which the event for which the calculation of the Fixed Charge Coverage Ratio is made (the “Calculation Date”), then the Fixed Charge Coverage Ratio shall be calculated giving pro forma effect to such incurrence, assumption,
Guarantee, repayment, retirement, extinguishment, repurchase or redemption of Indebtedness, or such issuance, repurchase or redemption of Disqualified Stock or Preferred Stock, and the use of the proceeds therefrom as if the same had occurred at the
beginning of the applicable four-quarter reference period. 
 In addition, for purposes of calculating the Fixed Charge Coverage
Ratio: 
 (1) Investments or acquisitions and dispositions of business entities or property and assets constituting a division
or line of business of any Person that have been made by the specified Person or any of its Restricted Subsidiaries, including through mergers or consolidations and including any related financing transactions, during the four-quarter reference
period or subsequent to such reference period and on or prior to the Calculation Date shall be given pro forma effect as if they had occurred on the first day of the four-quarter reference period and Consolidated Cash Flow for such reference period
shall be calculated on a pro forma basis, but without giving effect to clause (3) of the proviso set forth in the definition of Consolidated Net Income; 

(2) the Consolidated Cash Flow attributable to discontinued operations, as determined in accordance with GAAP, shall be excluded;

  

 15 

 (3) the Fixed Charges attributable to discontinued operations, as determined in accordance
with GAAP, shall be excluded, but only to the extent that the obligations giving rise to such Fixed Charges will not be obligations of the specified Person or any of its Subsidiaries following the Calculation Date; and 

(4) consolidated interest expense attributable to interest on any Indebtedness (whether existing or being incurred) computed on a pro
forma basis and bearing a floating interest rate shall be computed as if the rate in effect on the Calculation Date (taking into account any interest rate option, swap, cap or similar agreement applicable to such Indebtedness if such agreement has a
remaining term in excess of 12 months or, if shorter, at least equal to the remaining term of such Indebtedness) had been the applicable rate for the entire period. 

For purposes of this definition, whenever pro forma effect is to be given to any event, the pro forma calculations shall be made in good
faith by a responsible financial or accounting officer of the Company. Any such pro forma calculation may include adjustments appropriate, in the reasonable good faith determination of the Company as set forth in an Officer’s Certificate, to
reflect operating expense reductions and other operating improvements or synergies reasonably expected to result from the applicable event. 

“Fixed Charges” means, with respect to any specified Person for any period, the sum, without duplication, of:

 (1) the consolidated interest expense of such Person and its Restricted Subsidiaries for such period, whether paid or
accrued, including, without limitation, amortization of debt issuance costs and original issue discount, non-cash interest payments, the interest component of any deferred payment obligations, the interest component of all payments associated with
Capital Lease Obligations, commissions, discounts and other fees and charges incurred in respect of letter of credit or bankers’ acceptance financings, and net of the effect of all payments made, received or accrued in connection with Hedging
Obligations (but excluding unrealized gains or losses with respect thereto), but excluding (i) amortization of deferred financing fees, debt issuance costs, commissions, fees and expenses, (ii) any expensing of bridge, commitment and other
financing fees, (iii) any redemption premiums, prepayment fees, or other charges or penalties incurred in connection with the Transactions and (iv) any premiums, fees or other charges incurred in connection with the refinancing of the
Existing Indebtedness on the Issue Date (in each case of (i) through (iv), to the extent included in any of the foregoing items listed in clause (1)); plus 

(2) the consolidated interest of such Person and its Restricted Subsidiaries that was capitalized during such period; plus

 (3) any interest expense on Indebtedness of another Person that is Guaranteed by such Person or one of its Restricted
Subsidiaries or secured by a Lien on assets of such Person or one of its Restricted Subsidiaries, whether or not such Guarantee or Lien is called upon; plus 

 

 16 

 (4) the product of (a) all dividends, whether paid or accrued and whether or not in
cash, on any series of Disqualified Stock or Preferred Stock of such Person or any of its Restricted Subsidiaries, other than (i) dividends on Equity Interests payable solely in Equity Interests of the Company (other than Disqualified Stock) or
(ii) dividends to the Company or a Restricted Subsidiary of the Company, times (b) a fraction, the numerator of which is one and the denominator of which is one minus the then current combined federal, state and local statutory tax rate of
such Person, expressed as a decimal, in each case, on a consolidated basis and in accordance with GAAP. 
 “Foreign
Subsidiary” means any Restricted Subsidiary of the Company other than a Domestic Subsidiary. 
 “GAAP”
means generally accepted accounting principles set forth in the opinions and pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants, the opinions and pronouncements of the Public Company
Accounting Oversight Board and in the statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other entity as have been approved by a significant segment of the accounting profession, which are
in effect on the Issue Date. 
 “Global Note” means a Note in registered global form without interest coupons.

 “Government Securities” means direct obligations of, or obligations guaranteed by, the United States of
America for the payment of which guarantee or obligations the full faith and credit of the United States is pledged. 

“Guarantee” means, as to any Person, a guarantee other than by endorsement of negotiable instruments for collection in
the ordinary course of business, direct or indirect, in any manner including, without limitation, by way of a pledge of assets or through letters of credit or reimbursement agreements in respect thereof, of all or any part of any Indebtedness of
another Person. 
 “Guarantors” means: 

(1) Holdings and each direct or indirect Domestic Subsidiary of the Company on the Issue Date; and 

(2) any other subsidiary that executes a Note Guarantee in accordance with the provisions of the Indenture; 

 

 17 

 and their respective successors and assigns until released from their obligations under their Note
Guarantees and the Indenture in accordance with the terms of the Indenture. 
 “Hedging Obligations” means,
with respect to any specified Person, the obligations of such Person under: 
 (1) interest rate swap agreements, interest rate
cap agreements, interest rate collar agreements and other agreements or arrangements designed for the purpose of managing interest rate risk; 

(2) commodity swap agreements, commodity option agreements, forward contracts and other agreements or arrangements designed for the
purpose of managing commodity price risk; and 
 (3) foreign exchange contracts, currency swap agreements and other agreements
or arrangements designed for the purpose of managing foreign currency exchange rate risk. 
 “Holder” or
“Noteholder” means the registered holder of any Note. 
 “Holdings” means SB/RH Holdings, LLC
or any successor obligor under the Indenture and its Notes Guarantee pursuant to Article 5. 
 “IAI Global
Note” means a Global Note resold to Institutional Accredited Investors bearing the Restricted Legend. 

“Immaterial Real Property Interests” means real property with a fair market value less than or equal to $2.0 million.

 “incur” means, with respect to any Indebtedness, to incur, create, issue, assume, Guarantee or otherwise
become directly or indirectly liable for or with respect to, or become responsible for, the payment of, contingently or otherwise, such Indebtedness; provided that (1) any Indebtedness of a Person existing at the time such Person becomes
a Restricted Subsidiary of the Company will be deemed to be incurred by such Restricted Subsidiary at the time it becomes a Restricted Subsidiary of the Company and (2) neither the accrual of interest nor the accretion of original issue
discount nor the payment of interest in the form of additional Indebtedness with the same terms and the payment of dividends on Disqualified Stock in the form of additional shares of the same class of Disqualified Stock (to the extent provided for
when the Indebtedness or Disqualified Stock on which such interest or dividend is paid was originally issued) shall be considered an incurrence of Indebtedness; provided that in each case the amount thereof is for all other purposes included
in the Fixed Charges and Indebtedness of the Company or its Restricted Subsidiary as accrued. 
  

 18 

 “Indebtedness” means, with respect to any specified Person, any
indebtedness of such Person, whether or not contingent: 
 (1) in respect of borrowed money; 

(2) evidenced by bonds, notes, debentures or similar instruments or letters of credit (or reimbursement agreements in respect thereof),
but excluding obligations with respect to letters of credit (including trade letters of credit) securing obligations entered into in the ordinary course of business of such Person to the extent such letters of credit are not drawn upon or, if drawn
upon, to the extent such drawing is reimbursed no later than the fifth Business Day following receipt by such Person of a demand for reimbursement); 

(3) in respect of banker’s acceptances; 

(4) in respect of Capital Lease Obligations; 

(5) in respect of the balance deferred and unpaid of the purchase price of any property, except any such balance that constitutes an
accrued expense or trade payable; 
 (6) representing Hedging Obligations, other than Hedging Obligations that are incurred in
the ordinary course of business for the purpose of managing interest rate, commodity price or foreign currency exchange rate risk (or to reverse or amend any such agreements previously made for such purposes), and not for speculative purposes, and
that do not increase the Indebtedness of the obligor outstanding at any time other than as a result of fluctuations in interest rates, commodity prices or foreign currency exchange rates or by reason of fees, indemnities and compensation payable
thereunder; or 
 (7) representing Disqualified Stock valued at the greater of its voluntary or involuntary maximum fixed
repurchase price plus accrued dividends; 
 if and to the extent that any of the preceding items (other than letters of credit and Hedging
Obligations) would appear as a liability upon a balance sheet (excluding the footnotes thereto) of the specified Person prepared in accordance with GAAP or, in the case of any earn-out obligation or purchase price adjustment, would have been
recorded as a liability under GAAP prior to the adoption of Financial Accounting Standards Board Statement No. 141R. In addition, the term “Indebtedness” includes (x) all Indebtedness of others secured by a Lien on any asset of
the specified Person (whether or not such Indebtedness is assumed by the specified Person), provided that the amount of such Indebtedness shall be the lesser of (A) the fair market value of such asset at such date of determination and
(B) the amount of such Indebtedness, and (y) to the extent not otherwise included, the Guarantee by the specified Person of any Indebtedness of any other Person. For purposes hereof, the “maximum fixed repurchase price” of any
Disqualified 
  

 19 

 
Stock which does not have a fixed repurchase price shall be calculated in accordance with the terms of such Disqualified Stock as if such Disqualified Stock were purchased on any date on which
Indebtedness shall be required to be determined pursuant to the Indenture, and if such price is based upon, or measured by, the fair market value of such Disqualified Stock, such fair market value shall be determined in good faith by the Board of
Directors of the issuer of such Disqualified Stock. 
 The amount of any Indebtedness outstanding as of any date shall be the
outstanding balance at such date of all unconditional obligations as described above and, with respect to contingent obligations, the maximum liability upon the occurrence of the contingency giving rise to the obligation, and shall be: 

(1) the accreted value thereof, in the case of any Indebtedness issued with original issue discount; and 

(2) the principal amount thereof, together with any interest thereon that is more than 30 days past due, in the case of any other
Indebtedness; 
 provided that Indebtedness shall not include: 

(i) any liability for federal, state, local or other taxes; 

(ii) performance, surety or appeal bonds provided in the ordinary course of business; 

(iii) agreements providing for indemnification, adjustment of purchase price or similar obligations, or Guarantees or letters of credit,
surety bonds or performance bonds securing any obligations of the Company or any of its Restricted Subsidiaries pursuant to such agreements, in any case incurred in connection with the disposition of any business, assets or Restricted Subsidiary
(other than Guarantees of Indebtedness incurred by any Person acquiring all or any portion of such business, assets or Restricted Subsidiary for the purpose of financing such acquisition), so long as the principal amount does not exceed the gross
proceeds actually received by the Company or any Restricted Subsidiary in connection with such disposition; or 
 (iv) deferred
revenue. 
 “Indenture” means this indenture, as amended or supplemented from time to time. 

“Initial Additional Notes” means Additional Notes issued in an offering not registered under the Securities Act and any
Notes issued in replacement thereof, but not including any Exchange Notes issued in exchange therefor. 
  

 20 

 “Initial Notes” means the Notes issued on the Issue Date and any Notes
issued in replacement thereof, but not including any Exchange Notes issued in exchange therefor. 
 “Initial
Purchasers” means the initial purchasers party to a purchase agreement with the Company relating to the sale of the Initial Notes or Initial Additional Notes by the Company. 

“Institutional Accredited Investor” means an institutional “accredited investor” (as defined) in Rule 501(a),
(2), (3) or (7) under the Securities Act. 
 “Institutional Accredited Investor Certificate” means a
certificate substantially in the form of Exhibit G hereto. 
 “Intercreditor Agreement” means the intercreditor
agreement (in the form attached as Exhibit J hereto) dated as of the Issue Date among the Collateral Trustee and the Revolving Credit Agent, as amended from time to time. 

“interest”, in respect of the Notes, unless the context otherwise requires, refers to interest and Additional Interest,
if any. 
 “Interest Payment Date” means each June 15 and December 15 of each year, commencing
December 15, 2010. 
 “Investments” means, with respect to any Person, all direct or indirect investments
by such Person in other Persons (including Affiliates) in the forms of loans or other extensions of credit (including Guarantees, but excluding advances to customers or suppliers in the ordinary course of business that are, in conformity with GAAP,
recorded as accounts receivable, prepaid expenses or deposits on the balance sheet of the Company or its Restricted Subsidiaries and endorsements for collection or deposit arising in the ordinary course of business), advances (excluding commission,
travel, payroll and similar advances to officers and employees made consistent with past practices), capital contributions (by means of any transfer of cash or other property to others or any payment for property or services for the account or use
of others), purchases or other acquisitions for consideration of Indebtedness, Equity Interests or other securities, together with all items that are or would be classified as investments on a balance sheet prepared in accordance with GAAP.

 If the Company or any Restricted Subsidiary of the Company sells or otherwise disposes of any Equity Interests of any direct
or indirect Restricted Subsidiary of the Company such that, after giving effect to any such sale or disposition, such Person is no longer a Restricted Subsidiary of the Company, the Company shall be deemed to have made an Investment on the date of
any such sale or disposition equal to the fair market value of the Investment in such Restricted Subsidiary not sold or disposed of in an amount determined as 

 

 21 

 
provided in Section 4.07(c). The acquisition by the Company or any Restricted Subsidiary of the Company of a Person that holds an Investment in a third Person shall be deemed to be an
Investment by the Company or such Restricted Subsidiary in such third Person only if such Investment was made in contemplation of, or in connection with, the acquisition of such Person by the Company or such Restricted Subsidiary and the amount of
any such Investment shall be determined as provided in Section 4.07(c). 
 “Issue Date” means the date on
which the Original Notes are originally issued under the Indenture. 
 “Legal Defeasance” has the meaning
assigned to such term in Section 8.02. 
 “Leverage Ratio” means with respect to any Person as of any date
of determination, the ratio of (x) total Indebtedness of such Person as of the end of the most recent fiscal quarter for which internal financial statements are available immediately preceding the date on which such event for which such
calculation is being made shall occur minus the lesser of (i) the aggregate amount of unrestricted cash and Cash Equivalents owned by such Person and its Restricted Subsidiaries on a consolidated basis and (ii) $50.0 million to
(y) the aggregate amount of Consolidated Cash Flow of such Person for the period of the most recently ended four full consecutive fiscal quarters for which internal financial statements are available immediately preceding the date on which such
event for which such calculation is being made shall occur, in each case with such pro forma adjustments to total Indebtedness and Consolidated Cash Flow as are consistent with the pro forma adjustment provisions of the Fixed Charge
Coverage Ratio. 
 “Lien” means, with respect to any asset, any mortgage, lien, pledge, charge, security
interest or encumbrance of any kind in respect of such asset, whether or not filed, recorded or otherwise perfected under applicable law, including any conditional sale or other title retention agreement, any lease in the nature thereof, any option
or other agreement to sell or give a security interest in and any filing of or agreement to give any financing statement under the Uniform Commercial Code (or equivalent statutes) of any jurisdiction. 

“Moody’s” means Moody’s Investors Service, Inc. and its successors. 

“Net Income” means, with respect to any specified Person, the net income (loss) of such Person, determined in accordance
with GAAP and before any reduction in respect of Preferred Stock dividends, excluding, however: 
 (1) any gain or loss,
together with any related provision for taxes on such gain or loss, realized in connection with: (a) any sale of assets outside the ordinary course of business of such Person; or (b) the disposition of any securities by such Person or any
of its Restricted Subsidiaries or the extinguishment of any Indebtedness of such Person or any of its Restricted Subsidiaries; and 
  

 22 

 (2) any extraordinary gain or loss, together with any related provision for taxes on such
extraordinary gain or loss. 
 “Net Proceeds” means the aggregate cash proceeds, including payments in respect
of deferred payment obligations (to the extent corresponding to the principal, but not the interest component, thereof) received by the Company or any of its Restricted Subsidiaries in respect of any Asset Sale (including, without limitation, any
cash received upon the sale or other disposition of any non-cash consideration received in any Asset Sale), net of (1) the direct costs relating to such Asset Sale, including, without limitation, legal, accounting, brokerage and investment
banking fees, and sales commissions, and any relocation expenses incurred as a result thereof, (2) taxes paid or payable as a result thereof, in each case, after taking into account any available tax credits or deductions arising therefrom and
any tax sharing arrangements in connection therewith, (3) amounts required to be applied to the repayment of Indebtedness or other liabilities, secured by a Lien on the asset or assets (other than Primary Collateral) that were the subject of
such Asset Sale, or required to be paid as a result of such sale, and (4) any reserve for adjustment in respect of the sale price of such asset or assets established in accordance with GAAP. 

“Non-U.S. Person” means a Person that is not a U.S. person, as defined in Regulation S. 

“Notes” has the meaning assigned to such term in the Recitals. 

“Note Guarantee” means the Guarantee by each Guarantor of the Company’s payment obligations under the Indenture and
on the Notes, executed pursuant to the Indenture. 
 “Obligations” means any principal, interest, penalties,
fees, indemnifications, reimbursements, damages and other liabilities payable under the documentation governing any Indebtedness. 

“Offer to Purchase” has the meaning assigned to such term in Section 3.04. 

“Offering Circular” means the Offering Circular dated June 4, 2010 relating to the sale of the Initial Notes.

 “Officer” means the chairman of the Board of Directors, the president or chief executive officer, any vice
president, the chief financial officer, the treasurer or any assistant treasurer, or the secretary or any assistant secretary, of the Company. 
  

 23 

 “Officer’s Certificate” means a certificate signed in the name of the
Company by any of the chairman of the Board of Directors, the president or chief executive officer, the chief financial officer, a vice president, the treasurer or any assistant treasurer or the secretary or any assistant secretary. 

“Offshore Global Note” means a Global Note representing Notes issued and sold pursuant to Regulation S. 

“Opinion of Counsel” means a written opinion signed by legal counsel, who may be an employee of or counsel to the
Company, satisfactory to the Trustee. 
 “Original Notes” means the Initial Notes and any Exchange Notes issued
in exchange therefor. 
 “Pari-Passu Obligation” means an Obligation secured equally and ratably by the Liens
on the Collateral. 
 “Paying Agent” means an office or agency where Notes may be presented for payment.

 “Permanent Offshore Global Note” means an Offshore Global Note that does not bear the Temporary Offshore
Global Note Legend. 
 “Permitted Business” means any business conducted or proposed to be conducted by the
Company and its Restricted Subsidiaries on the Issue Date and other businesses complementary, similar or reasonably related, ancillary or incidental thereto or reasonable extensions thereof. 

“Permitted Debt” has the meaning assigned to such term in Section 4.06. 

“Permitted Holders” means 

(1) each of Harbinger Capital Partners Master Fund I, Ltd., Harbinger Capital Partners Special Situations Fund, L.P. and Global
Opportunities Breakaway Ltd; 
 (2) any Affiliate or Related Party of any Person specified in clause (1), other than another
portfolio company thereof (which means a company actively engaged in providing goods and services to unaffiliated customers) or a company controlled by a “portfolio company”; or 

(3) any Person both the Capital Stock and the Voting Stock of which (or in the case of a trust, the beneficial interests in which) are
owned 50% or more by Persons specified in clauses (1) and (2). 
  

 24 

 “Permitted Investments” means: 

(1) any Investment in the Company or in a Restricted Subsidiary of the Company; 

(2) any Investment in Cash Equivalents; 

(3) any Investment by the Company or any Restricted Subsidiary of the Company in a Person, if as a result of such Investment: 

(a) such Person becomes a Restricted Subsidiary of the Company; or 

(b) such Person is merged, consolidated or amalgamated with or into, or transfers or conveys substantially all of its assets to, or is
liquidated into, the Company or a Restricted Subsidiary of the Company; 
 (4) any Investment made as a result of the receipt of
non-cash consideration from an Asset Sale (including Designated Non-Cash Consideration) that was made pursuant to and in compliance with Section 4.12; provided that such Investments shall be pledged as Primary Collateral to the extent
the assets subject to such Asset Sale constituted Primary Collateral; provided further that, notwithstanding the foregoing clause, up to an aggregate of $50.0 million outstanding at any time (based on the fair market value at the time made,
without regard to subsequent changes in value) of (x) non-cash consideration (including Replacement Assets and Designated Non-Cash Consideration) received pursuant to Section 4.12(a)(2), (y) assets acquired or Investments made
pursuant to Section 4.12(b)(3) and (z) assets received pursuant to clause (12) of the definition of “Asset Sales” may be designated by the Company as property not required to be pledged as Collateral; 

(5) Hedging Obligations that are incurred in the ordinary course of business for the purpose of managing interest rate, commodity price
or foreign currency exchange rate risk (or to reverse or amend any such agreements previously made for such purposes), and not for speculative purposes, and that do not increase the Indebtedness of the obligor outstanding at any time other than as a
result of fluctuations in interest rates, commodity prices or foreign currency exchange rates or by reason of fees, indemnities and compensation payable thereunder; 

(6) stock, obligations or securities received in satisfaction of judgments; 

(7) Investments in securities of trade debtors or customers received (x) pursuant to any plan of reorganization or similar
arrangement upon the bankruptcy or insolvency of such trade creditors or customers or in good faith settlement of delinquent obligations of such trade debtors or customers or in compromise or resolution of litigation, arbitration or other disputes
with Persons who are not Affiliates, (y) as a result of the foreclosure by the Company or any Restricted Subsidiaries with respect to any secured Investment or other transfer of title, or (z) as a result of litigation, or other disputes
with Persons who are not Affiliates; 
  

 25 

 (8) other Investments in any Person engaged in a Permitted Business having an aggregate fair
market value (measured on the date each such Investment was made and without giving effect to subsequent changes in value), when taken together with all other Investments made pursuant to this clause (8) since the Issue Date, not to exceed
$75.0 million; 
 (9) Investments consisting of purchases and acquisitions of inventory, supplies, material or equipment or the
licensing or contribution of intellectual property pursuant to joint marketing, joint development or similar arrangements with other Persons; 

(10) advances, loans, rebates and extensions of credit (including the creation of receivables) to suppliers, customers and vendors, and
performance guarantees, in each case in the ordinary course of business; 
 (11) Investments in prepaid expenses, negotiable
instruments held for collection and lease and utility and worker’s compensation deposits provided to third parties in the ordinary course of business; and 

(12) Investments (other than in Restricted Subsidiaries) outstanding on the Issue Date. 

“Permitted Liens” means: 

(1) Liens on the Collateral securing 

(a) the Notes (but not Additional Notes), the Exchange Notes and the Note Guarantees thereof and other Obligations in
respect thereof; 
 (b) Indebtedness treated as having been incurred under clause (1)(x) or (y) of the
definition of Permitted Debt and all Revolving Credit Obligations of the type described in clause (ii) of the definition thereof, which Indebtedness and other Obligations may be secured by Liens ranking senior to the Liens securing the Notes
and the Note Guarantees on the Secondary Collateral and, in such case, if such Indebtedness and such other Obligations are secured by Liens on the Primary Collateral, any such Liens shall (except in the case of Hedging Obligations, which may be
secured on a pari passu basis with the Obligations under the Notes on the terms set forth in the Intercreditor Agreement as in effect on the Issue Date) be secured on a basis that is junior to the Liens securing the Notes and the Note
Guarantees on the Primary Collateral (for the avoidance of doubt, Indebtedness incurred clause 1(y) may alternatively, at the Company’s option, be secured by Liens ranking equal in priority to the Liens on the Collateral securing the Notes and
the Note Guarantees); 
  

 26 

 (c) Indebtedness treated as having been incurred under clause (1)(z) of
the definition of Permitted Debt and all Obligations in respect thereof; provided that 
  

	 	(i)	except as set forth in clause (ii) below, the Liens securing such Indebtedness and Obligations shall rank equal or junior in priority to the Liens on the
Collateral securing the Notes and the Note Guarantees; and 

  

	 	(ii)	Indebtedness treated as having been incurred under clause (1)(z)(ii) may alternatively, at the Company’s option, be secured (together with Obligations in
respect thereof) by Liens on the Secondary Collateral ranking senior to the Liens securing the Notes and the Note Guarantees and Liens on the Primary Collateral that are junior to the Liens securing the Notes and the Note Guarantees on the Primary
Collateral; provided that the maximum amount of Indebtedness at any time outstanding and treated as having been incurred under such clause (1)(z)(ii) that may be so secured in the manner described in this clause (ii) shall not
exceed (x) the borrowing base of the Company and the Guarantors at the time of incurrence thereof as determined pursuant to its Revolving Credit Agreement as then in effect less (b) the amount of Indebtedness then permitted to be incurred
(whether or not such Indebtedness is outstanding) pursuant to clause (i)(x) and (i)(y) of Permitted Debt (other than any Indebtedness then outstanding that was incurred pursuant to such clause (y) and is secured by Liens ranking equal in
priority to the Liens securing the Notes); and 

 (d) Permitted Refinancing Indebtedness in respect
of Indebtedness referred to in clause (a) above; 
 (2) Liens in favor of the Company or any Guarantor; 

(3) Liens on property of a Person existing at the time such Person is merged with or into or consolidated with the Company or any
Restricted Subsidiary of the Company; provided that such Liens were in existence prior to the contemplation of such merger or consolidation and do not extend to any assets other than those of the Person merged into or consolidated with the
Company or the Restricted Subsidiary; 
 (4) Liens on property existing at the time of acquisition thereof by the Company or any
Restricted Subsidiary of the Company, provided that such Liens were in existence prior to the contemplation of such acquisition and do not extend to any property other than the property so acquired by the Company or the Restricted Subsidiary;

  

 27 

 (5) Liens existing on the Issue Date not otherwise permitted hereby; 

(6) Liens securing Permitted Refinancing Indebtedness (other than in respect of Indebtedness referred to in clause (1)); provided
that such Liens do not extend to any property or assets other than the property or assets that secure the Indebtedness being refinanced; 

(7) Liens incurred in the ordinary course of business of the Company or any Restricted Subsidiary of the Company with respect to
obligations that do not exceed $50.0 million at any one time outstanding; 
 (8) Liens on the assets of a Foreign Subsidiary
securing Indebtedness of a Foreign Subsidiary that was permitted by the terms of the Indenture to be incurred; 
 (9) pledges or
deposits under worker’s compensation laws, unemployment insurance laws or similar legislation, or good faith deposits in connection with bids, tenders, contracts or leases, or to secure public or statutory obligations, surety bonds, customs
duties and the like, or for the payment of rent, in each case incurred in the ordinary course of business and not securing Indebtedness; 

(10) Liens imposed by law, such as carriers’, vendors’, warehousemen’s and mechanics’ liens or other similar liens,
in each case for sums not yet due or being contested in good faith and by appropriate proceedings; 
 (11) Liens in respect of
taxes and other governmental assessments and charges which are not yet due or which are being contested in good faith and by appropriate proceedings; 

(12) Liens securing reimbursement obligations with respect to letters of credit that encumber documents and other property relating to
such letters of credit and the proceeds thereof; 
 (13) (x) minor survey exceptions, minor encumbrances, easements or
reservations of, or rights of others for, licenses, rights of way, sewers, electric lines, telegraph and telephone lines and other similar purposes, or zoning or other restrictions as to the use of real property, or zoning or other restrictions as
to the use of real property or Liens incidental to the conduct of the business of such Person or the ownership of its properties, not interfering in any material respect with the conduct of the business of the Company and its Restricted Subsidiaries
or (y) any zoning or similar law or right reserved to or vested in any governmental authority to control or regulate the use of any real property; 
  

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 (14) licenses or leases or sublicenses or subleases as licensor, lessor, sublicensor or
sublessor of any of its property, including intellectual property, in the ordinary course of business; 
 (15) customary Liens
in favor of trustees and escrow agents, and netting and setoff rights, banker’s liens and the like in favor of financial institutions and counterparties to financial obligations and instruments, including Hedging Agreements; 

(16) Liens on assets pursuant to merger agreements, stock or asset purchase agreements and similar agreements in respect of the
disposition of such assets; 
 (17) options, put and call arrangements, rights of first refusal and similar rights relating to
Investments in joint ventures, partnerships and the like; 
 (18) judgment liens, and Liens securing appeal bonds or letters of
credit issued in support of or in lieu of appeal bonds, so long as no Event of Default then exists as a result thereof; 
 (19)
Liens incurred in the ordinary course of business not securing Indebtedness and not in the aggregate materially detracting from the value of the properties or their use in the operation of the business of the Company and its Restricted Subsidiaries;

 (20) Liens (including the interest of a lessor under a Capital Lease) on property that secure Indebtedness incurred under
clause (4) of Permitted Debt for the purpose of financing all or any part of the purchase price or cost of construction or improvement of such property and which attach within 365 days after the date of such purchase or the completion of
construction or improvement; 
 (21) deposits in the ordinary course of business to secure liability to insurance carriers;

 (22) Liens in favor of customs and revenue authorities arising as a matter of law to secure payment of customs duties in
connection with the importation of goods in the ordinary course of business; 
 (23) Liens consisting of contractual rights of
set-off (i) relating to the establishment of depository relations with banks not given in connection with the issuance of Indebtedness, (ii) relating to pooled deposit or sweep accounts of the Company or any of its Restricted Subsidiaries
to permit satisfaction of overdraft or similar obligations incurred in the ordinary course of business of the Company and its Restricted Subsidiaries or (iii) relating to purchase orders and other agreements entered into with customers of the
Company or any of its Restricted Subsidiaries in the ordinary course of business; and 
  

 29 

 (24) Liens arising from financing statements filings under the Uniform Commercial Code or
similar state laws regarding operating leases entered into by the Company and its Restricted Subsidiaries in the ordinary course of business. 

“Permitted Refinancing Indebtedness” means any Indebtedness of the Company or any of its Restricted Subsidiaries issued
in exchange for, or the net proceeds of which are used to extend, refinance, renew, replace, defease or refund other Indebtedness of the Company or any of its Restricted Subsidiaries (other than intercompany Indebtedness); provided that:

 (1) the principal amount (or accreted value, if applicable) of such Permitted Refinancing Indebtedness does not exceed the
principal amount (or accreted value, if applicable) of the Indebtedness so extended, refinanced, renewed, replaced, defeased or refunded (plus all accrued interest thereon and the amount of any reasonably determined premium necessary to accomplish
such refinancing and such reasonable expenses incurred in connection therewith); 
 (2) such Permitted Refinancing Indebtedness
has a final maturity date 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 extended, refinanced, renewed, replaced, defeased
or refunded; provided that in the case of the Existing Subordinated Notes, such Permitted Refinancing Indebtedness must have a final maturity date at least 123 days later than the final maturity date of, and a Weighted Average Life to
Maturity that is equal or greater Weighted Average Life to Maturity of, the Notes; 
 (3) if the Indebtedness being extended,
refinanced, renewed, replaced, defeased or refunded is subordinated in right of payment to the Notes or the Note Guarantees, such Permitted Refinancing Indebtedness is subordinated in right of payment to, the Notes or such Note Guarantees on terms
at least as favorable to the Holders of Notes as those contained in the documentation governing the Indebtedness being extended, refinanced, renewed, replaced, defeased or refunded provided that the Existing Subordinated Notes may be
refinanced with senior unsecured Indebtedness and any such refinancing will be deemed to comply with this clause (3) so long as the Company’s Leverage Ratio, on a pro forma basis after giving to such refinancing, does not exceed 4.0 to 1.0
and the Company’s Secured Leverage Ratio, on a pro forma basis after giving to such refinancing, does not exceed 3.5 to 1.0; and 

(4) in no event may Indebtedness of the Company or any Guarantor be refinanced by means of Indebtedness of a Restricted Subsidiary that
is not a Guarantor. 
 “Person” means any individual, corporation, partnership, joint venture, association,
joint-stock company, trust, unincorporated organization, limited liability company or government or other entity. 
  

 30 

 “Preferred Stock” means, with respect to any Person, any Capital Stock of
such Person that has preferential rights to any other Capital Stock of such Person with respect to dividends or redemption upon liquidation. 

“Primary Collateral” means substantially all of the assets (other than Secondary Collateral) that are owned or hereafter
acquired by the Company or by each of the Guarantors to the extent pledged or required to be pledged to secure the Notes, now owned or hereafter acquired by the Company or any Guarantor to the extent pledged or required to be pledged to secure the
Notes. 
 “principal” of any Indebtedness means the principal amount of such Indebtedness, (or if such
Indebtedness was issued with original issue discount, the face amount of such Indebtedness less the remaining unamortized portion of the original issue discount of such Indebtedness), together with, unless the context otherwise indicates, any
premium then payable on such Indebtedness. 
 “Qualified Stock” means all Capital Stock of a Person other than
Disqualified Stock. 
 “Register” has the meaning assigned to such term in Section 2.09. 

“Registrar” means an office or agency where Notes may be presented for registration of transfer or for exchange.

 “Registration Rights Agreement” means (i) the Registration Rights Agreement dated on or about the Issue
Date between the Company and the Initial Purchasers party thereto with respect to the Initial Notes, and (ii) with respect to any Additional Notes, any registration rights agreements between the Company and the Initial Purchasers party thereto
relating to rights given by the Company to the purchasers of Additional Notes to register such Additional Notes or exchange them for Notes registered under the Securities Act. 

“Regular Record Date” for the interest payable on any Interest Payment Date means the June 1 or December 1
(whether or not a Business Day) next preceding such Interest Payment Date. 
 “Regulation S” means Regulation S
under the Securities Act. 
 “Regulation S Certificate” means a certificate substantially in the form of
Exhibit E hereto. 
 “Replacement Assets” means (1) non-current assets (other than securities of any
Person) that will be used or useful in a Permitted Business or (2) all or substantially all of the assets of a Permitted Business or Voting Stock of any Person engaged in a Permitted Business that will become on the date of acquisition thereof
a Restricted Subsidiary. 
  

 31 

 “Restricted Investment” means an Investment other than a Permitted
Investment. 
 “Restricted Legend” means the legend set forth in Exhibit C. 

“Restricted Payment” has the meaning assigned to such term in Section 4.07. 

“Restricted Period” means the relevant 40-day distribution compliance period as defined in Regulation S. 

“Restricted Subsidiary” of a Person means any Subsidiary of the referent Person that is not an Unrestricted Subsidiary.
Unless the context otherwise requires, “Restricted Subsidiary” refers to a Restricted Subsidiary of the Company. 

“Revolver Agent” means the agent under the Revolving Credit Agreement. 

“Revolving Credit Agreement” means the revolving credit agreement dated on or about the Issue Date among the Company,
the lenders party thereto and Bank of America NA, as agent, together with any related documents (including any security documents and guarantees) as such agreement, in whole or in part, in one or more instances, may be amended, renewed, extended,
substituted, refinanced, restructured, replaced, supplemented or otherwise modified from time to time (including any successive renewals, extensions, substitutions, refinancings, restructurings, replacements, supplementations or other modifications
of the foregoing and including any amendment increasing the amount of Indebtedness incurred or available to be borrowed thereunder, extending the maturity of any Indebtedness incurred thereunder or contemplated thereby or deleting, adding or
substituting one or more parties thereto (whether or not such added or substituted parties are banks or other institutional lenders)), including into one or more debt facilities, commercial paper facilities or other debt instruments, indentures or
agreements (including by means of sales of debt securities (including Additional Notes) to institutional investors), providing for revolving credit loans, term loans, letters of credit or other debt obligations, whether any such extension,
replacement or refinancing (1) occurs simultaneously or not with the termination or repayment of a prior credit agreement or (2) occurs on one or more separate occasions. 

“Revolving Credit Obligations” means (i) all Indebtedness under Credit Facilities constituting Permitted Debt under
clause (1) (provided, in the case of Indebtedness under clause (y) or (z) of such clause (1), such Indebtedness is secured on a senior basis by Liens on the Secondary Collateral and on a junior basis by Liens on the Primary
Collateral), and all Obligations in respect thereof and (ii) the Cash Management Obligations and all Obligations under the Hedging 

 

 32 

 
Agreements, owed to Persons that were agents and the lenders under the Revolving Credit Agreement or their affiliates at the time of entry into the agreements governing such obligations, but
excluding any such obligations that are not permitted under the Indenture to be secured with Liens on the Collateral; provided that the amount of Cash Management Obligations secured by Liens on the Collateral shall not exceed the amount
permitted to be secured under the Intercreditor Agreement. 
 “Rule 144A” means Rule 144A under the Securities
Act. 
 “Rule 144A Certificate” means (i) a certificate substantially in the form of Exhibit F hereto or
(ii) a written certification addressed to the Company and the Trustee to the effect that the Person making such certification (x) is acquiring such Note (or beneficial interest) for its own account or one or more accounts with respect to
which it exercises sole investment discretion and that it and each such account is a qualified institutional buyer within the meaning of Rule 144A, (y) is aware that the transfer to it or exchange, as applicable, is being made in reliance upon
the exemption from the provisions of Section 5 of the Securities Act provided by Rule 144A, and (z) acknowledges that it has received such information regarding the Company as it has requested pursuant to Rule 144A(d)(4) or has determined
not to request such information. 
 “S&P” means Standard & Poor’s Ratings Group, a division
of McGraw Hill, Inc. and its successors. 
 “Secondary Collateral” shall mean, collectively, that portion of
the Collateral, now existing or hereafter acquired by the Company or any Guarantor, consisting of ABL Priority Collateral, as such term is defined in the Intercreditor Agreement. 

“Secured Leverage Ratio” means, on any date of determination (the “transaction date”), the ratio of
(x) the aggregate amount of all outstanding Indebtedness (which Indebtedness is secured by a Lien on an any asset of the Company or any of its Restricted Subsidiaries) of the Company and its Restricted Subsidiaries, determined on a consolidated
basis (with any Indebtedness incurred pursuant to Section 4.06(b)(1)(z) deemed to be secured Indebtedness for this purpose in connection with any measurement of the Secured Leverage Ratio pursuant to such clause) minus the lesser of
(i) the aggregate amount of unrestricted cash and Cash Equivalents owned by the Company and its Restricted Subsidiaries on a consolidated basis and (ii) $50.0 million to (y) the aggregate amount of Consolidated Cash Flow of the
Company and its Restricted Subsidiaries for the four fiscal quarters immediately prior to the transaction date for which internal financial statements are available in each case with such pro forma adjustments to Indebtedness and Consolidated
Cash Flow as are consistent with the pro forma adjustment provisions of the Fixed Charges Coverage Ratio. 
  

 33 

 “Securities Act” means the Securities Act of 1933. 

“Security Documents” means (i) the Intercreditor Agreement, (ii) the Collateral Trust Agreement and
(iii) the security documents granting a security interest in any assets of any Person to secure the Obligations under the Notes and the Note Guarantees as each may be amended, restated, supplemented or otherwise modified from time to time.

 “Shelf Registration Statement” means the Shelf Registration Statement as defined in a Registration Rights
Agreement. 
 “Significant Subsidiary” means any Subsidiary that would constitute a “significant
subsidiary” within the meaning of Article 1 of Regulation S-X of the Securities Act. 
 “Stated Maturity”
means, with respect to any installment of interest or principal on any series of Indebtedness, the date on which such payment of interest or principal was scheduled to be paid in the original documentation governing such Indebtedness, and shall not
include any contingent obligations to repay, redeem or repurchase any such interest or principal prior to the date originally scheduled for the payment thereof. 

“Subsidiary” means, with respect to any specified Person: 

(1) any corporation, association or other business entity of which more than 50% of the total voting power of shares of Capital Stock
entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof is at the time owned or controlled, directly or indirectly, by such Person or one or more of the other Subsidiaries of
that Person (or a combination thereof); and 
 (2) any partnership (a) the sole general partner or the managing general
partner of which is such Person or a Subsidiary of such Person or (b) the only general partners of which are such Person or one or more Subsidiaries of such Person (or any combination thereof). 

“Term Loan Agent” means the agent under the Term Loan Agreement. 

“Term Loan Agreement” means the term loan credit agreement dated on or about the Issue Date among the Company, the
lenders party thereto and Credit Suisse AG, as agent, together with any related documents, including any related Notes, guarantees, collateral documents, instruments and agreements executed in connection therewith, in each case as such term loan
credit agreement, in whole or in part, in one or more instances, may be amended, renewed, extended, substituted, refinanced, restructured, replaced, supplemented or otherwise modified from time to time (including any successive renewals, extensions,

  

 34 

 
substitutions, refinancings, restructurings, replacements, supplementations or other modifications of the foregoing and including any amendment increasing the amount of Indebtedness incurred or
available to be borrowed thereunder, extending the maturity of any Indebtedness incurred thereunder or contemplated thereby or deleting, adding or substituting one or more parties thereto (whether or not such added or substituted parties are banks
or other institutional lenders)), including into one or more debt facilities, commercial paper facilities or other debt instruments, indentures or agreements (including by means of sales of debt securities (including Additional Notes) to
institutional investors), providing for revolving credit loans, term loans, letters of credit or other debt obligations, whether any such extension, replacement or refinancing (1) occurs simultaneously or not with the termination or repayment
of a prior term loan credit agreement or (2) occurs on one or more separate occasions. 
 “Term Loan
Obligations” means all Indebtedness and other Obligations incurred under the Term Loan Agreement and secured (in a manner permitted by the Indenture) by a Lien on the Collateral ranking equally with the Lien securing the Notes (so long as
the Lien secures the Notes). 
 “Temporary Offshore Global Note” means an Offshore Global Note that bears the
Temporary Offshore Global Note Legend. 
 “Temporary Offshore Global Note Legend” means the legend set forth in
Exhibit I. 
 “Transaction Expenses” means fees and expenses payable or otherwise borne by the Company and its
Restricted Subsidiaries in connection with the Transactions and incurred before, or on or about, the Issue Date, including the costs of legal and financial advisors to the Company and the lenders under the Term Loan Agreement and the Revolving
Credit Agreement and prepayment fees and penalties in connection with the prepayment of the existing Indebtedness of the Company and its Restricted Subsidiaries on or about the Issue Date. 

“Transactions” means, collectively, (a) the execution, delivery and performance by the Company and the other
parties thereto of the Revolving Credit Agreement and Term Loan Agreement on the Issue Date and the making of the borrowings thereunder on the Issue Date, (b) the execution, delivery and performance by the Company and the Guarantors of the
Indenture and related documents and the issuance of the Notes, (c) the refinancing of certain Existing Indebtedness, (d) the mergers of the Company and Russell Hobbs, Inc. pursuant to that certain Agreement and Plan of Merger, dated
February 9, 2010, by and among Spectrum Brands Holdings, Inc., (formerly SB/RH Holdings, Inc.), Russell Hobbs, Inc., the Company, Battery Merger Corp. and Grill Merger Corp., and the other transactions ancillary to or contemplated by such
agreement and (e) the payment of the costs in respect thereof. 
  

 35 

 “Treasury Rate” means, as of any redemption date, the yield to maturity as
of such redemption date of United States Treasury securities with a constant maturity (as compiled and published in the most recent Federal Reserve Statistical Release H.15(519) that has become publicly available at least two Business Days prior to
the redemption date (or, if such Statistical Release is no longer published, any publicly available source of similar market data)) most nearly equal to the period from the redemption date to June 15, 2014; provided, however, that if the
period from the redemption date to June 15, 2014, is less than one year, the weekly average yield on actually traded United States Treasury securities adjusted to a constant maturity of one year will be used. 

“Trustee” means the party named as such in the first paragraph of the Indenture or any successor trustee under the
Indenture pursuant to Article 7. 
 “Trust Indenture Act” means the Trust Indenture Act of 1939, as amended.

 “U.S. Global Note” means a Global Note that bears the Restricted Legend representing Notes issued and sold
pursuant to Rule 144A. 
 “U.S. Government Obligations” means obligations issued or directly and fully
guaranteed or insured by the United States of America or by any agent or instrumentality thereof, provided that the full faith and credit of the United States of America is pledged in support thereof. 

“Unrestricted Subsidiary” means any Subsidiary of the Company that is designated by the Board of Directors as an
Unrestricted Subsidiary pursuant to a resolution of the Board of Directors in compliance with the Section 4.14, and any Subsidiary of such Subsidiary. 

“Voting Stock” of any Person as of any date means the Capital Stock of such Person that is at the time entitled to vote
in the election of the Board of Directors of such Person. 
 “Weighted Average Life to Maturity” means, when
applied to any Indebtedness at any date, the number of years obtained by dividing: 
 (1) the sum of the products obtained by
multiplying (a) 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 (b) the number of years (calculated to the
nearest one-twelfth) that will elapse between such date and the making of such payment; by 
 (2) the then outstanding principal
amount of such Indebtedness. 
 “Wholly Owned” means, with respect to any Restricted Subsidiary, a Restricted
Subsidiary all of the outstanding Capital Stock of which (other than any director’s qualifying shares) is owned by the Company and one or more Wholly Owned Restricted Subsidiaries (or a combination thereof). 

 

 36 

 Section 1.02. Rules of Construction. Unless the context otherwise requires or
except as otherwise expressly provided, 
 (1) an accounting term not otherwise defined has the meaning assigned
to it in accordance with GAAP; 
 (2) “herein,” “hereof” and other words of similar import
refer to the Indenture as a whole and not to any particular Section, Article or other subdivision; 
 (3) all
references to Sections or Articles or Exhibits refer to Sections or Articles or Exhibits of or to the Indenture unless otherwise indicated; 

(4) references to agreements or instruments, or to statutes or regulations, are to such agreements or instruments, or
statutes or regulations, as amended from time to time (or to successor statutes and regulations); and 
 (5) in
the event that a transaction meets the criteria of more than one category of permitted transactions or listed exceptions the Company may classify such transaction as it, in its sole discretion, determines. 

ARTICLE 2 

THE NOTES 

Section 2.01. Form, Dating and Denominations; Legends. (a) The Notes and the Trustee’s certificate of
authentication will be substantially in the form attached as Exhibit A. The terms and provisions contained in the form of the Notes annexed as Exhibit A constitute, and are hereby expressly made, a part of the Indenture. However, to the extent any
provision of any Note conflicts with the express provisions of this Indenture, the provisions of this Indenture shall govern and be controlling. The Notes may have notations, legends or endorsements required by law, rules of or agreements with
national securities exchanges to which the Company is subject, or usage. Each Note will be dated the date of its authentication. The Notes will be issuable in denominations of $2,000 in principal amount and any multiple of $1,000 in excess thereof.

 (b) (1) Except as otherwise provided in paragraph (c), Section 2.10(b)(3), (b)(5), or (c) or
Section 2.09(b)(4), each Initial Note or Initial Additional Note (other than a Permanent Offshore Note) will bear the Restricted Legend. 
  

 37 

 (2) Each Global Note, whether or not an Initial Note or Additional Note,
will bear the DTC Legend. 
 (3) Each Temporary Offshore Global Note will bear the Temporary Offshore Global Note
Legend. 
 (4) Initial Notes and Initial Additional Notes offered and sold in reliance on Regulation S will be
issued as provided in Section 2.11(a). 
 (5) Initial Notes and Initial Additional Notes offered and sold in
reliance on any exception under the Securities Act other than Regulation S and Rule 144A will be issued, and upon the request of the Company to the Trustee, Initial Notes offered and sold in reliance on Rule 144A may be issued, and any Initial Notes
sold to an Affiliate of the Company shall be issued, in the form of Certificated Notes. 
 (6) Initial Notes
resold to Institutional Accredited Investors will be in the form of an IAI Global Note. 
 (7) Exchange Notes
will be issued, subject to Section 2.09(b), in the form of one or more Global Notes. 
 (c) (1) If the Company
determines (upon the advice of counsel and such other certifications and evidence as the Company may reasonably require) that a Note is eligible for resale pursuant to Rule 144 under the Securities Act (or a successor provision) without the need for
current public information and that the Restricted Legend is no longer necessary or appropriate in order to ensure that subsequent transfers of the Note (or a beneficial interest therein) are effected in compliance with the Securities Act, or

 (2) after an Initial Note or any Initial Additional Note is 

(x) sold pursuant to an effective registration statement under the Securities Act, pursuant to the Registration Rights
Agreement or otherwise, or (y) is validly tendered for exchange into an Exchange Note pursuant to an Exchange Offer 
 the Company shall
instruct the Trustee to cancel the Note and issue to the Holder thereof (or to its transferee) a new Note of like tenor and amount, registered in the name of the Holder thereof (or its transferee), that does not bear the Restricted Legend, and the
Trustee will comply with such instruction. 
 (d) By its acceptance of any Note bearing the Restricted Legend (or any beneficial
interest in such a Note), each Holder thereof and each owner of a beneficial interest therein acknowledges the restrictions on transfer of such Note (and any such beneficial interest) set forth in this Indenture and in the Restricted Legend and
agrees that it will transfer such Note (and any such beneficial interest) only in accordance with the Indenture and such legend. 
  

 38 

 Section 2.02. Execution and Authentication; Exchange Notes; Additional Notes.
(a) An Officer shall execute the Notes for the Company by facsimile or manual signature in the name and on behalf of the Company. If an Officer whose signature is on a Note no longer holds that office at the time the Note is authenticated,
the Note will still be valid. 
 (b) A Note will not be valid until the Trustee manually signs the certificate of authentication
on the Note, with the signature conclusive evidence that the Note has been authenticated under the Indenture. 
 (c) At any time
and from time to time after the execution and delivery of the Indenture, the Company may deliver Notes executed by the Company to the Trustee for authentication. The Trustee will authenticate and deliver 

(i) Initial Notes for original issue in the aggregate principal amount not to exceed $750,000,000, 

(ii) Initial Additional Notes from time to time for original issue in aggregate principal amounts specified by the
Company, and 
 (iii) Exchange Notes from time to time for issue in exchange for a like principal amount of
Initial Notes or Initial Additional Notes 
 after the following conditions have been met: 

(1) Receipt by the Trustee of an Officer’s Certificate specifying 

(A) the amount of Notes to be authenticated and the date on which the Notes are to be authenticated, 

(B) whether the Notes are to be Initial Notes or, Additional Notes or Exchange Notes, 

(C) in the case of Initial Additional Notes, that the issuance of such Notes does not contravene any provision of Article
4 and that such Additional Notes are permitted under the terms of the Intercreditor Agreement and the Collateral Trust Agreement and all steps required thereunder have been complied with, 

(D) whether the Notes are to be issued as one or more Global Notes or Certificated Notes, and 

 

 39 

 (E) other information the Company may determine to include or the Trustee
may reasonably request. 
 (2) To the extent required by applicable tax regulations, Additional Notes that are
issued with more than de minimis original issue discount and are not fungible with other Notes shall be issued under a separate CUSIP number and shall be treated as a separate class for purposes of transfer and exchange. 

(3) In the case of Exchange Notes, effectiveness of an Exchange Offer Registration Statement and consummation of the
exchange offer thereunder (and receipt by the Trustee of an Officer’s Certificate to that effect). Initial Notes or Initial Additional Notes exchanged for Exchange Notes will be cancelled by the Trustee. 

(d) The Notes and any Additional Notes shall be treated as a single class for all purposes under this Indenture, other than as specified
in clause (2) of Section 2.02(c), and shall vote together as one class on all matters with respect to the Notes. 

Section 2.03. Registrar, Paying Agent and Authenticating Agent; Paying Agent to Hold Money in Trust. (a) The Company may
appoint one or more Registrars and one or more Paying Agents, and the Trustee may appoint an Authenticating Agent, in which case each reference in the Indenture to the Trustee in respect of the obligations of the Trustee to be performed by that
Agent will be deemed to be references to the Agent. The Company may act as Registrar or (except for purposes of Article 8) Paying Agent. In each case the Company and the Trustee will enter into an appropriate agreement with the Agent implementing
the provisions of the Indenture relating to the obligations of the Trustee to be performed by the Agent and the related rights. The Company initially appoints the Trustee as Registrar and Paying Agent. 

(b) The Company will require each Paying Agent other than the Trustee to agree in writing that the Paying Agent will hold in trust for
the benefit of the Holders or the Trustee all money held by the Paying Agent for the payment of principal of and interest on the Notes and will promptly notify the Trustee of any default by the Company in making any such payment. The Company at any
time may require a Paying Agent to pay all money held by it to the Trustee and account for any funds disbursed, and the Trustee may at any time during the continuance of any payment default, upon written request to a Paying Agent, require the Paying
Agent to pay all money held by it to the Trustee and to account for any funds disbursed. Upon doing so, the Paying Agent will have no further liability for the money so paid over to the Trustee. 

 

 40 

 (c) The Company may remove any Registrar or Paying Agent upon written notice to such
Registrar or Paying Agent and to the Trustee; provided, however, that no such removal shall become effective until (i) if applicable, acceptance of an appointment by a successor as evidenced by an appropriate agreement entered
into by the Company and such successor Registrar or Paying Agent, as the case may be, and delivered to the Trustee or (ii) notification to the Trustee that the Trustee shall serve as Registrar or Paying Agent until the appointment of a
successor in accordance with the clause (i) above. 
 Section 2.04. Replacement Notes. If a mutilated Note is
surrendered to the Trustee or if a Holder claims that its Note has been lost, destroyed or wrongfully taken, and the Company receives evidence to its satisfaction of the ownership and loss, mutilation or destruction of such Note, the Company will
issue and the Trustee will authenticate a replacement Note of like tenor and principal amount and bearing a number not contemporaneously outstanding. Every replacement Note is an additional obligation of the Company and entitled to the benefits of
the Indenture. If required by the Trustee or the Company, an indemnity must be furnished that is sufficient in the judgment of both the Trustee and the Company to protect the Company and the Trustee from any loss they may suffer if a Note is
replaced. The Company may charge the Holder for all expenses of the Company and the Trustee in replacing a Note (including attorney’s fees). In case the mutilated, lost, destroyed or wrongfully taken Note has become or is about to become due
and payable, the Company in its discretion may pay the Note instead of issuing a replacement Note. 
 Section 2.05.
Outstanding Notes. (a) Notes outstanding at any time are all Notes that have been authenticated by the Trustee except for 

(1) Notes cancelled by the Trustee or delivered to it for cancellation; 

(2) any Note which has been replaced pursuant to Section 2.04 unless and until the Trustee and the Company receive
proof satisfactory to them that the replaced Note is held by a protected purchaser as defined in Section 8-303 of the New York UCC; and 

(3) on or after the maturity date or any redemption date or date for purchase of the Notes pursuant to an Offer to
Purchase, those Notes payable or to be redeemed or purchased on that date for which the Trustee (or Paying Agent, other than the Company or an Affiliate of the Company) holds money sufficient to pay all amounts then due. 

(b) A Note does not cease to be outstanding because the Company or one of its Affiliates holds the Note, provided that in
determining whether the Holders of the requisite principal amount of the outstanding Notes have given or taken any request, demand, authorization, direction, notice, consent, waiver or other action hereunder, Notes owned by the Company or any
Affiliate of the Company will be disregarded and deemed not to be outstanding, (it being 
  

 41 

 
understood that in determining whether the Trustee is protected in relying upon any such request, demand, authorization, direction, notice, consent, waiver or other action, only Notes which the
Trustee knows to be so owned will be so disregarded). Notes so owned which have been pledged in good faith may be regarded as outstanding if the pledgee establishes to the satisfaction of the Trustee the pledgee’s right so to act with respect
to such Notes and that the pledgee is not the Company or any Affiliate of the Company. Notes that are to be acquired by the Company or an Affiliate of the Company pursuant to an exchange offer, Offer to Purchase, tender offer or other agreement
shall not be deemed to be owned by such entity until legal title to such Notes passes to such entity. 
 Section 2.06.
Temporary Notes. Until definitive Notes are ready for delivery, the Company may prepare and the Trustee will authenticate temporary Notes. Temporary Notes will be substantially in the form of definitive Notes but may have insertions,
substitutions, omissions and other variations determined to be appropriate by the Officer executing the temporary Notes, as evidenced by the execution of the temporary Notes. If temporary Notes are issued, the Company will cause definitive Notes to
be prepared without unreasonable delay. After the preparation of definitive Notes, the temporary Notes will be exchangeable for definitive Notes upon surrender of the temporary Notes at the office or agency of the Company designated for the purpose
pursuant to Section 4.02, without charge to the Holder. Upon surrender for cancellation of any temporary Notes the Company will execute and the Trustee will authenticate and deliver in exchange therefor a like principal amount of definitive
Notes of authorized denominations. Until so exchanged, the temporary Notes will be entitled to the same benefits under the Indenture as definitive Notes. 

Section 2.07. Cancellation. The Company at any time may deliver to the Trustee for cancellation any Notes previously
authenticated and delivered hereunder which the Company may have acquired in any manner whatsoever, and may deliver to the Trustee for cancellation any Notes previously authenticated hereunder which the Company has not issued and sold. Any Registrar
or the Paying Agent will forward to the Trustee any Notes surrendered to it for transfer, exchange or payment. The Trustee will cancel all Notes surrendered for transfer, exchange, payment or cancellation and dispose of them in accordance with its
normal procedures or the written instructions of the Company. Certification of the disposition of cancelled Notes shall, upon the request of the Company, be delivered to the Company. The Company may not issue new Notes to replace Notes it has paid
in full or delivered to the Trustee for cancellation. 
 Section 2.08. CUSIP and CINS Numbers. The Company in
issuing the Notes may use “CUSIP” and “CINS” numbers, and the Trustee will use CUSIP numbers or CINS numbers in notices of redemption or exchange or in Offers to Purchase as a convenience to Holders, the notice to state that no
representation is made as to the correctness of such numbers either as printed on the Notes or as contained in any notice of redemption or exchange or Offer to Purchase. The Company will promptly notify the Trustee of any change in the CUSIP or CINS
numbers. 
  

 42 

 Section 2.09. Registration, Transfer and Exchange. (a) The Notes will be
issued in registered form only, without coupons, and the Company shall cause the Trustee to maintain a register (the “Register”) of the Notes, for registering the record ownership of the Notes by the Holders and transfers and
exchanges of the Notes. 
 (b) (1) Each Global Note will be registered in the name of the Depositary or its nominee and, so
long as DTC is serving as the Depositary thereof, will bear the DTC Legend. 
 (2) Each Global Note will be
delivered to the Trustee as custodian for the Depositary. Transfers of a Global Note (but not a beneficial interest therein) will be limited to transfers thereof in whole, but not in part, to the Depositary, its successors or their respective
nominees, except (1) as set forth in Section 2.09(b)(4) and (2) transfers of portions thereof in the form of Certificated Notes may be made upon request of an Agent Member (for itself or on behalf of a beneficial owner) by written
notice given to the Trustee by or on behalf of the Depositary in accordance with customary procedures of the Depositary and in compliance with this Section and Section 2.10 or Section 2.01(b)(5) and only under the circumstances provided
for in Sections 2.01(b)(5) or 2.09(b)(4) unless otherwise agreed to by the Company. 
 (3) Agent Members will
have no rights under the Indenture with respect to any Global Note held on their behalf by the Depositary, and the Depositary may be treated by the Company, the Trustee and any agent of the Company or the Trustee as the absolute owner and Holder of
such Global Note for all purposes whatsoever. Notwithstanding the foregoing, the Depositary or its nominee may grant proxies and otherwise authorize any Person (including any Agent Member and any Person that holds a beneficial interest in a Global
Note through an Agent Member) to take any action which a Holder is entitled to take under the Indenture or the Notes, and nothing herein will impair, as between the Depositary and its Agent Members, the operation of customary practices governing the
exercise of the rights of a holder of any security. 
 (4) If (x) the Depositary notifies the Company that
it is unwilling or unable to continue as Depositary for a Global Note and a successor depositary is not appointed by the Company within 90 days of the notice or (y) an Event of Default has occurred and is continuing and the Trustee has received
a request from the Depositary, the Trustee will promptly exchange each beneficial interest in the Global Note for one or more Certificated Notes in authorized denominations having an equal 

 

 43 

 
aggregate principal amount registered in the name of the owner of such beneficial interest, as identified to the Trustee by the Depositary, and thereupon the Global Note will be deemed canceled.
If such Note does not bear the Restricted Legend, then the Certificated Notes issued in exchange therefor will not bear the Restricted Legend. If such Note bears the Restricted Legend, then the Certificated Notes issued in exchange therefor will
bear the Restricted Legend, provided that any Holder of any such Certificated Note issued in exchange for a beneficial interest in a Temporary Offshore Global Note will have the right upon presentation to the Trustee of a duly completed
Certificate of Beneficial Ownership after the Restricted Period to exchange such Certificated Note for a Certificated Note of like tenor and amount that does not bear the Restricted Legend, registered in the name of such Holder. 

(c) Each Certificated Note will be registered in the name of the holder thereof or its nominee. 

(d) A Holder may transfer a Note (or a beneficial interest therein) to another Person or exchange a Note (or a beneficial interest
therein) for another Note or Notes of any authorized denomination by presenting to the Trustee a written request therefor stating the name of the proposed transferee or requesting such an exchange, accompanied by any certification, opinion or other
document required by Section 2.10. The Trustee will promptly register any transfer or exchange that meets the requirements of this Section by noting the same in the register maintained by the Trustee for the purpose; provided that

 (x) no transfer or exchange will be effective until it is registered in such register and 

(y) the Trustee will not be required (i) to issue, register the transfer of or exchange any Note for a period of 15
days before a selection of Notes to be redeemed or purchased pursuant to an Offer to Purchase, (ii) to register the transfer of or exchange any Note so selected for redemption or purchase in whole or in part, except, in the case of a partial
redemption or purchase, that portion of any Note not being redeemed or purchased, or (iii) if a redemption or a purchase pursuant to an Offer to Purchase is to occur after a Regular Record Date but on or before the corresponding Interest
Payment Date, to register the transfer of or exchange any Note on or after the Regular Record Date and before the date of redemption or purchase. Prior to the registration of any transfer, the Company, the Trustee and their agents will treat the
Person in whose name the Note is registered as the owner and Holder thereof for all purposes (whether or not the Note is overdue), and will not be affected by notice to the contrary. 

 

 44 

 From time to time the Company will execute and the Trustee will authenticate Additional
Notes as necessary in order to permit the registration of a transfer or exchange in accordance with this Section. 
 No service
charge will be imposed in connection with any transfer or exchange of any Note, but the Company may require payment of a sum sufficient to cover any transfer tax or similar governmental charge payable in connection therewith (other than a transfer
tax or other similar governmental charge payable upon exchange pursuant to subsection (b)(4)). 
 (e) (1) Global Note to
Global Note. If a beneficial interest in a Global Note is transferred or exchanged for a beneficial interest in another Global Note, the Trustee will (x) record a decrease in the principal amount of the Global Note being transferred or
exchanged equal to the principal amount of such transfer or exchange and (y) record a like increase in the principal amount of the other Global Note. Any beneficial interest in one Global Note that is transferred to a Person who takes delivery
in the form of an interest in another Global Note, or exchanged for an interest in another Global Note, will, upon transfer or exchange, cease to be an interest in such Global Note and become an interest in the other Global Note and, accordingly,
will thereafter be subject to all transfer and exchange restrictions, if any, and other procedures applicable to beneficial interests in such other Global Note for as long as it remains such an interest. 

(2) Global Note to Certificated Note. If, under the circumstances provided for under Sections 2.01(b)(5) or
2.09(b)(4), a beneficial interest in a Global Note is transferred or exchanged for a Certificated Note, the Trustee will (x) record a decrease in the principal amount of such Global Note equal to the principal amount of such transfer or
exchange and (y) deliver one or more new Certificated Notes in authorized denominations having an equal aggregate principal amount to the transferee (in the case of a transfer) or the owner of such beneficial interest (in the case of an
exchange), registered in the name of such transferee or owner, as applicable. 
 (3) Certificated Note to
Global Note. If a Certificated Note is transferred or exchanged for a beneficial interest in a Global Note, the Trustee will (x) cancel such Certificated Note, (y) record an increase in the principal amount of such Global Note equal to
the principal amount of such transfer or exchange and (z) in the event that such transfer or exchange involves less than the entire principal amount of the canceled Certificated Note, deliver to the Holder thereof one or more new Certificated
Notes in authorized denominations having an aggregate principal amount equal to the untransferred or unexchanged portion of the canceled Certificated Note, registered in the name of the Holder thereof. 

 

 45 

 (4) Certificated Note to Certificated Note. If a Certificated Note is
transferred or exchanged for another Certificated Note, the Trustee will (x) cancel the Certificated Note being transferred or exchanged, (y) deliver one or more new Certificated Notes in authorized denominations having an aggregate
principal amount equal to the principal amount of such transfer or exchange to the transferee (in the case of a transfer) or the Holder of the canceled Certificated Note (in the case of an exchange), registered in the name of such transferee or
Holder, as applicable, and (z) if such transfer or exchange involves less than the entire principal amount of the canceled Certificated Note, deliver to the Holder thereof one or more Certificated Notes in authorized denominations having an
aggregate principal amount equal to the untransferred or unexchanged portion of the canceled Certificated Note, registered in the name of the Holder thereof. 

Section 2.10. Restrictions on Transfer and Exchange. (a) The transfer or exchange of any Note (or a beneficial interest
therein) may only be made in accordance with this Section and Section 2.09 and, in the case of a Global Note (or a beneficial interest therein), the applicable rules and procedures of the Depositary. The Trustee shall refuse to register any
requested transfer or exchange that does not comply with the preceding sentence. 
 (b) Subject to paragraph (c), the transfer
or exchange of any Note (or a beneficial interest therein) of the type set forth in column A below for a Note (or a beneficial interest therein) of the type set forth opposite in column B below may only be made in compliance with the certification
requirements (if any) described in the clause of this paragraph set forth opposite in column C below. 
  

					
	 A
	 	 B
	 	 C

	 U.S. Global Note
	 	U.S. Global Note	 	(1)
	 U.S. Global Note
	 	Offshore Global Note	 	(2)
	 U.S. Global Note
	 	Certificated Note	 	(3)
	 Offshore Global Note
	 	U.S. Global Note	 	(4)
	 Offshore Global Note
	 	Offshore Global Note	 	(1)
	 Offshore Global Note
	 	Certificated Note	 	(5)
	 Certificated Note
	 	U.S. Global Note	 	(4)
	 Certificated Note
	 	Offshore Global Note	 	(2)
	 Certificated Note
	 	Certificated Note	 	(3)

 (1) No
certification is required. 
 (2) The Person requesting the transfer or exchange must deliver or cause to be
delivered to the Trustee a duly completed Regulation S Certificate; provided that if the requested transfer or exchange is made by the Holder of a Certificated Note that does not bear the Restricted Legend, then no certification is required.

  

 46 

 (3) The Person requesting the transfer or exchange must deliver or cause to
be delivered to the Trustee (x) a duly completed Rule 144A Certificate, (y) a duly completed Regulation S Certificate or (z) a duly completed Institutional Accredited Investor Certificate, and/or an Opinion of Counsel and such other
certifications and evidence as the Company may reasonably require in order to determine that the proposed transfer or exchange is being made in compliance with the Securities Act and any applicable securities laws of any state of the United States;
provided that if the requested transfer or exchange is made by the Holder of a Certificated Note that does not bear the Restricted Legend, then no certification is required. In the event that (i) the requested transfer or exchange takes
place after the Restricted Period and a duly completed Regulation S Certificate is delivered to the Trustee or (ii) a Certificated Note that does not bear the Restricted Legend is surrendered for transfer or exchange, upon transfer or exchange
the Trustee will deliver a Certificated Note that does not bear the Restricted Legend. 
 (4) The Person
requesting the transfer or exchange must deliver or cause to be delivered to the Trustee a duly completed Rule 144A Certificate. 

(5) Notwithstanding anything to the contrary contained herein, no such exchange is permitted if the requested exchange
involves a beneficial interest in a Temporary Offshore Global Note. If the requested transfer involves a beneficial interest in a Temporary Offshore Global Note, the Person requesting the transfer must deliver or cause to be delivered to the Trustee
(x) a duly completed Rule 144A Certificate or (y) a duly completed Institutional Accredited Investor Certificate and/or an Opinion of Counsel and such other certifications and evidence as the Company may reasonably require in order to
determine that the proposed transfer is being made in compliance with the Securities Act and any applicable securities laws of any state of the United States. If the requested transfer or exchange involves a beneficial interest in a Permanent
Offshore Global Note, no certification is required and the Trustee will deliver a Certificated Note that does not bear the Restricted Legend. 

(c) No certification is required in connection with any transfer or exchange of any Note (or a beneficial interest therein) 

(1) after such Note is eligible for resale pursuant to Rule 144 under the Securities Act (or a successor provision)
without the need for current public information; provided that the Company has provided the Trustee with an Officer’s Certificate to that effect, and the Company may require from any Person requesting a transfer or exchange in reliance
upon this clause (1) an opinion of counsel and any other reasonable certifications and evidence in order to support such certificate; or 
  

 47 

 (2)(x) sold pursuant to an effective registration statement, pursuant to the
Registration Rights Agreement or otherwise or (y) which is validly tendered for exchange into an Exchange Note pursuant to an Exchange Offer. 

Any Certificated Note delivered in reliance upon this paragraph will not bear the Restricted Legend. 

(d) The Trustee will retain copies of all certificates, opinions and other documents received in connection with the transfer or exchange
of a Note (or a beneficial interest therein), and the Company will have the right to inspect and make copies thereof at any reasonable time upon written notice to the Trustee. 

Section 2.11. Temporary Offshore Global Notes. (a) Each Note originally sold by the Initial Purchasers in reliance upon
Regulation S will be evidenced by one or more Offshore Global Notes that bear the Temporary Offshore Global Note Legend. 
 (b)
An owner of a beneficial interest in a Temporary Offshore Global Note (or a Person acting on behalf of such an owner) may provide to the Trustee (and the Trustee will accept) a duly completed Certificate of Beneficial Ownership at any time after the
Restricted Period (it being understood that the Trustee will not accept any such certificate during the Restricted Period). Promptly after acceptance of a Certificate of Beneficial Ownership with respect to such a beneficial interest, the Trustee
will cause such beneficial interest to be exchanged for an equivalent beneficial interest in a Permanent Offshore Global Note, and will (x) permanently reduce the principal amount of such Temporary Offshore Global Note by the amount of such
beneficial interest and (y) increase the principal amount of such Permanent Offshore Global Note by the amount of such beneficial interest. 

(c) Notwithstanding paragraph (b), if after the Restricted Period any Initial Purchaser owns a beneficial interest in a Temporary
Offshore Global Note, such Initial Purchaser may, upon written request to the Trustee accompanied by a certification as to its status as an Initial Purchaser, exchange such beneficial interest for an equivalent beneficial interest in a Permanent
Offshore Global Note, and the Trustee will comply with such request and will (x) permanently reduce the principal amount of such Temporary Offshore Global Note by the amount of such beneficial interest and (y) increase the principal amount
of such Permanent Offshore Global Note by the amount of such beneficial interest. 
  

 48 

 (d) Notwithstanding anything to the contrary contained herein, any owner of a beneficial
interest in a Temporary Offshore Global Note shall not be entitled to receive payment of principal or interest on such beneficial interest or other amounts in respect of such beneficial interest until such beneficial interest is exchanged for an
interest in a Permanent Offshore Global Note or transferred for an interest in another Global Note or a Certificated Note. 

ARTICLE 3 

REDEMPTION; OFFER TO PURCHASE 

Section 3.01. Optional Redemption. (a) At any time on or after June 15, 2014, the Company may redeem all or a part
of the Notes, from time to time, upon not less than 30 nor more than 60 days notice, at the redemption prices (expressed as percentages of principal amount) set forth below plus accrued and unpaid interest, if any, to the applicable redemption date,
in cash, if redeemed during the twelve-month period beginning on June 15 in the years indicated below: 
  

			
	 Year
	  	Percentage
	 2014
	  	104.750%
	 2015
	  	102.375%
	 2016 and thereafter
	  	100%

 (b) At any time prior
to June 15, 2014, the Company may redeem the Notes at its option, in whole at any time or in part from time to time, at a redemption price equal to 100% of the principal amount of Notes redeemed plus the Applicable Premium as of, and accrued
and unpaid interest, if any, to, the applicable redemption date. 
 Section 3.02. Redemption with Proceeds of Equity
Offering. At any time and from time to time prior to June 15, 2013, the Company may redeem Notes with the net cash proceeds received by the Company from any Equity Offering at a redemption price equal to 109.500% of the principal amount
plus accrued and unpaid interest to the redemption date, in an aggregate principal amount for all such redemptions not to exceed 35% of the original aggregate principal amount of the Notes issued under the Indenture, including Additional Notes,
provided that 
 (1) in each case the redemption takes place not later than 90 days after the closing of the related
Equity Offering, and 
 (2) not less than 65% of the aggregate principal amount of the Notes issued under the Indenture remains
outstanding immediately thereafter. 
 Section 3.03. Method and Effect of Redemption. (a) If the Company elects
to redeem Notes, it must notify the Trustee in writing of the redemption date and the principal amount of Notes to be redeemed by delivering an Officer’s Certificate at least 45 days before the redemption date (unless a shorter period is

  

 49 

 
satisfactory to the Trustee). If less than all of the Notes are to be redeemed at any time, the Officer’s Certificate must also specify a record date not less than 15 days after the date of
the notice of redemption is given to the Trustee, and the Trustee will select the Notes to be redeemed as follows: (1) if the Notes are listed, in compliance with the requirements of the principal national securities exchange on which the Notes
are listed; or (2) if the Notes are not so listed, on a pro rata basis, by lot or by such method as the Trustee shall deem fair and appropriate. No Notes of less than $2,000 shall be redeemed in part. The Trustee will notify the Company
promptly of the Notes or portions of Notes to be called for redemption. Notices of redemption shall be mailed by first class mail at least 30 but not more than 60 days before the redemption date to each Holder of the Notes to be redeemed at its
registered address, except that redemption notices may be mailed more than 60 days prior to the redemption date if the notice is issued in connection with the defeasance of the Notes or a satisfaction and discharge of the Indenture. Notices of
redemption may not be conditional. 
 (b) The notice of redemption will identify the Notes to be redeemed and will include or
state the following: 
 (1) the redemption date; 

(2) the redemption price, including the portion thereof representing any accrued interest; 

(3) the place or places where Notes are to be surrendered for redemption; 

(4) Notes called for redemption must be so surrendered in order to collect the redemption price; 

(5) on the redemption date the redemption price will become due and payable on Notes called for redemption, and interest
on Notes called for redemption will cease to accrue on and after the redemption date; 
 (6) if any Note is
redeemed in part, the portion of the principal amount of the Note to be redeemed and on and after the redemption date, upon surrender of such Note, new Notes equal in principal amount to the unredeemed portion will be issued; and 

(7) if any Note contains a CUSIP or CINS number, no representation is being made as to the correctness of the CUSIP or
CINS number either as printed on the Notes or as contained in the notice of redemption and that the Holder should rely only on the other identification numbers printed on the Notes. 

 

 50 

 (c) Once notice of redemption is sent to the Holders, Notes called for redemption become due
and payable at the redemption price on the redemption date, and upon surrender of the Notes called for redemption, the Company shall redeem such Notes at the redemption price. On and after the redemption date, Notes redeemed will cease to accrue
interest. Upon surrender of any Note redeemed in part, the Holder will receive a new Note equal in principal amount to the unredeemed portion of the surrendered Note. 

Section 3.04. Offer to Purchase. (a) An “Offer to Purchase” means an offer by the Company to purchase
Notes as required by the Indenture. An Offer to Purchase must be made by written offer (the “offer”) sent to the Holders. The Company will notify the Trustee in writing at least 15 days (or such shorter period as is acceptable to
the Trustee) prior to sending the offer to Holders of its obligation to make an Offer to Purchase, and the offer will be sent by the Company or, at the Company’s request, by the Trustee in the name and at the expense of the Company. 

(b) The offer must include or state the following as to the terms of the Offer to Purchase: 

(1) the provision of the Indenture pursuant to which the Offer to Purchase is being made; 

(2) the aggregate principal amount of the outstanding Notes offered to be purchased by the Company pursuant to the Offer
to Purchase (including, if less than 100%, the manner by which such amount has been determined pursuant to the Indenture) (the “purchase amount”); 

(3) the purchase price, including the portion thereof representing accrued interest; 

(4) an expiration date (the “expiration date”) not less than 30 days or more than 60 days after the date
of the offer, and a settlement date for purchase (the “purchase date”) not more than five Business Days after the expiration date; 

(5) a Holder may tender all or any portion of its Notes, subject to the requirement that any portion of a Note tendered
must be in equal to $2,000 or a higher multiple of $1,000; 
 (6) the place or places where Notes are to be
surrendered for tender pursuant to the Offer to Purchase; 
 (7) each Holder electing to tender a Note pursuant
to the offer will be required to surrender such Note at the place or places specified in the offer prior to the close of business on the expiration date (such Note being, if the Company or the Trustee so requires, duly endorsed or accompanied by a
duly executed written instrument of transfer); 
  

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 (8) interest on any Note not tendered, or tendered but not purchased by the
Company pursuant to the Offer to Purchase, will continue to accrue; 
 (9) on the purchase date the purchase
price will become due and payable on each Note accepted for purchase, and interest on Notes purchased will cease to accrue on and after the purchase date; 

(10) Holders are entitled to withdraw Notes tendered by giving notice, which must be received by the Company or the
Trustee not later than the close of business on the expiration date, setting forth the name of the Holder, the principal amount of the tendered Notes, the certificate number of the tendered Notes and a statement that the Holder is withdrawing all or
a portion of the tender; 
 (11) (i) if Notes in an aggregate principal amount less than or equal to the
purchase amount are duly tendered and not withdrawn pursuant to the Offer to Purchase, the Company will purchase all such Notes, and (ii) if the Offer to Purchase is for less than all of the outstanding Notes and Notes in an aggregate principal
amount in excess of the purchase amount are tendered and not withdrawn pursuant to the offer, the Company will purchase Notes having an aggregate principal amount equal to the purchase amount on a pro rata basis based on principal amount tendered,
with adjustments so that only Notes in multiples of $1,000 principal amount will be purchased; 
 (12) if any
Note is purchased in part, new Notes equal in principal amount to the unpurchased portion of the Note will be issued; and 

(13) if any Note contains a CUSIP or CINS number, no representation is being made as to the correctness of the CUSIP or
CINS number either as printed on the Notes or as contained in the offer and that the Holder should rely only on the other identification numbers printed on the Notes. 

(c) Prior to or on the purchase date, the Company will accept tendered Notes for purchase as required by the Offer to Purchase and
deliver to the Trustee all Notes so accepted together with an Officer’s Certificate specifying which Notes have been accepted for purchase. On the purchase date the purchase price will become due and payable on each Note accepted for purchase,
and interest on Notes purchased will cease to accrue on and after the purchase date. The Trustee will promptly return to Holders any Notes not accepted for purchase and send to Holders new Notes equal in principal amount to any unpurchased portion
of any Notes accepted for purchase in part. 
  

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 (d) The Company will comply with the requirements of Rule 14e-1 under the Exchange Act and
any other securities laws and regulations thereunder to the extent such laws and regulations are applicable in connection with any Offer to Purchase. To the extent that the provisions of any securities laws or regulations conflict with the Offer to
Purchase provisions of the Indenture, the Company will comply with the applicable securities laws and regulations and will not be deemed to have breached its obligations under this Indenture by virtue of such compliance. 

ARTICLE 4 

COVENANTS 

Section 4.01. Payment Of Notes. (a) The Company agrees to pay the principal of and interest on the Notes on the dates
and in the manner provided in the Notes and the Indenture. Not later than 11:00 A.M. (New York City time) on the due date of any principal of or interest on any Notes, or any redemption or purchase price of the Notes, the Company will deposit with
the Trustee (or Paying Agent) money in immediately available funds sufficient to pay such amounts, provided that if the Company or any Affiliate of the Company is acting as Paying Agent, it will, on or before each due date, segregate and hold
in a separate trust fund for the benefit of the Holders a sum of money sufficient to pay such amounts until paid to such Holders or otherwise disposed of as provided in the Indenture. In each case the Company will promptly notify the Trustee of its
compliance with this paragraph. 
 (b) An installment of principal or interest will be considered paid on the date due if the
Trustee (or Paying Agent, other than the Company or any Affiliate of the Company) holds on that date money designated for and sufficient to pay the installment. If the Company or any Affiliate of the Company acts as Paying Agent, an installment of
principal or interest will be considered paid on the due date only if paid to the Holders. 
 (c) The Company agrees to pay
interest on overdue principal, and , to the extent lawful, overdue installments of interest at the rate per annum specified in the Notes. 

(d) Payments in respect of the Notes represented by the Global Notes are to be made by wire transfer of immediately available funds to
the accounts specified by the Holders of the Global Notes. With respect to Certificated Notes, the Company will make all payments by wire transfer of immediately available funds to the accounts specified by the Holders thereof at least 10 Business
Days prior to the date of such payment or, if no such account is specified, by mailing a check to each Holder’s registered address. 
  

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 Section 4.02. Maintenance of Office or Agency. The Company will maintain in the
United States of America, an office or agency where Notes may be surrendered for registration of transfer or exchange or for presentation for payment and where notices and demands to or upon the Company in respect of the Notes and the Indenture may
be served. The Company hereby initially designates the Corporate Trust Office of the Trustee as such office of the Company. The Company will give prompt written notice to the Trustee of the location, and any change in the location, of such office or
agency. If at any time the Company fails to maintain any such required office or agency or fails to furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands may be made or served to the Trustee. 

The Company may also from time to time designate one or more other offices or agencies where the Notes may be surrendered or presented
for any of such purposes and may from time to time rescind such designations. The Company will give prompt written notice to the Trustee of any such designation or rescission and of any change in the location of any such other office or agency.

 Section 4.03. Existence. The Company will do or cause to be done all things necessary to preserve and keep in
full force and effect its existence and the existence of each of its Restricted Subsidiaries in accordance with their respective organizational documents, and the material rights, licenses and franchises of the Company and each Restricted
Subsidiary, provided that the Company is not required to preserve any such right, license or franchise, or the existence of any Restricted Subsidiary, if (i) the maintenance or preservation thereof is no longer desirable in the conduct
of the business of the Company and its Restricted Subsidiaries taken as a whole or (ii) where the failure to so preserve such right, license or franchise would not have a material adverse effect on the Company and its Restricted Subsidiaries;
and provided further that this Section does not prohibit any transaction otherwise permitted by Section 4.12 or Article 5. 

Section 4.04. Payment of Taxes and other Claims. The Company will pay or discharge, and cause each of its Subsidiaries to pay
or discharge before the same become delinquent (i) all material taxes, assessments and governmental charges levied or imposed upon the Company or any Subsidiary or its income or profits or property, and (ii) all material lawful claims for
labor, materials and supplies that, if unpaid, might by law become a Lien upon the property of the Company or any Subsidiary, other than any such tax, assessment or charge the amount, applicability or validity of which is being contested in good
faith by appropriate proceedings and for which adequate reserves have been established or where failure to pay would not have a material adverse effect on the Company and its Restricted Subsidiaries. 

 

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 Section 4.05. Maintenance of Properties and Insurance. (a) The Company will
cause all properties used or useful in the conduct of its business or the business of any of its Restricted Subsidiaries to be maintained and kept in good condition, repair and working order as in the judgment of the Company may be necessary so that
the business of the Company and its Restricted Subsidiaries may be properly and advantageously conducted at all times; provided that nothing in this Section prevents the Company or any Restricted Subsidiary from discontinuing the use,
operation or maintenance of any of such properties or disposing of any of them, if such discontinuance or disposal is, in the judgment of the Company, desirable in the conduct of the business of the Company and its Restricted Subsidiaries taken as a
whole. 
 (b) The Company will provide or cause to be provided, for itself and its Restricted Subsidiaries, insurance (including
appropriate self-insurance) against loss or damage of the kinds customarily insured against by corporations similarly situated and owning like properties, including, but not limited to, products liability insurance and public liability insurance,
with reputable insurers, in such amounts, with such deductibles and by such methods as are customary for corporations similarly situated in the industry in which the Company and its Restricted Subsidiaries are then conducting business. The Company
will also maintain insurance required by each Security Document. 
 Section 4.06. Limitation on Incurrence of
Indebtedness and Issuance of Preferred Stock. (a) The Company will not, and will not permit any of its Restricted Subsidiaries to, directly or indirectly, incur any Indebtedness (including Acquired Debt), and the Company will not permit any
of its Restricted Subsidiaries to issue any Preferred Stock; provided, however, that the Company or any Guarantor may incur Indebtedness, if the Fixed Charge Coverage Ratio for the Company’s most recently ended four full fiscal quarters
for which internal financial statements are available immediately preceding the date on which such additional Indebtedness is incurred would have been at least 2.0 to 1, determined on a pro forma basis (including a pro forma
application of the net proceeds therefrom), as if the additional Indebtedness had been incurred at the beginning of such four-quarter period. 

(b) Notwithstanding the foregoing, Section 4.06(a) will not prohibit the incurrence of any of the following items of Indebtedness
(collectively, “Permitted Debt”): 
 (1) the incurrence by the Company or any Guarantor of
Indebtedness under Credit Facilities (and the incurrence of Guarantees thereof) in an aggregate principal amount at any one time outstanding pursuant to this clause (1) (with letters of credit being deemed to have a principal amount equal to
the maximum potential liability of the Company and its Restricted Subsidiaries thereunder) not to exceed (x) $300.0 million plus (y) $100.0 million plus (z) the greater of (i) $750.0 million

  

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and (ii) an amount such that, on a pro forma basis after giving effect to the incurrence of such Indebtedness (and application of the net proceeds therefrom), the Secured Leverage
Ratio would be no greater than 3.25 to 1.0; less in the case of clause (y) and (z), the aggregate amount of all Net Proceeds of Asset Sales applied by the Company or any Restricted Subsidiary to permanently repay any such Indebtedness
(and, in the case of any revolving credit Indebtedness, to effect a corresponding commitment reduction thereunder) pursuant to Section 4.12; 

(2) the incurrence of Existing Indebtedness; 

(3) the incurrence by the Company and the Guarantors of Indebtedness represented by the Notes (excluding any Additional
Notes but including Exchange Notes) and the related Note Guarantees; 
 (4) the incurrence by the Company or any
Restricted Subsidiary of the Company of Indebtedness (including Capital Lease Obligations, mortgage financings or purchase money obligations), incurred for the purpose of financing or reimbursing all or any part of the purchase price or cost of the
acquisition, development, construction, purchase, lease, repair, addition or improvement of property (real or personal), plant, equipment or other fixed or capital assets that are used or useful in the Permitted Business, whether through the direct
purchase of assets or the purchase of Equity Interests of any Person owning such assets (in each case, incurred within 365 days of such acquisition, development, construction, purchase, lease, repair, addition or improvement), in an aggregate
principal amount, including all Permitted Refinancing Indebtedness incurred to refund, refinance or replace any Indebtedness incurred pursuant to this clause (4), not to exceed, at any time outstanding, the greater of (a) $100.0 million and
(b) 7.5% of Consolidated Net Tangible Assets of the Company; 
 (5) the incurrence by the Company or any
Restricted Subsidiary of the Company of Permitted Refinancing Indebtedness in exchange for, or the net proceeds of which are used to refund, refinance or replace Indebtedness (other than intercompany Indebtedness) that was permitted by the Indenture
to be incurred under Section 4.06(a) or clauses (2), (3), (4), (5), (8), (10) or (11) of this Section 4.06(b); 

(6) the incurrence by the Company or any of its Restricted Subsidiaries of intercompany Indebtedness owing to and held by
the Company or any of its Restricted Subsidiaries; provided, however, that: 
 (a) if the Company or any
Guarantor is the obligor on such Indebtedness, such Indebtedness must be unsecured and expressly subordinated to the prior payment in full in cash of all Obligations with respect to the Notes, in the case of the Company, or the Note Guarantee, in
the case of a Guarantor; and 
  

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 (b)(i) any subsequent issuance or transfer of Equity Interests that results
in any such Indebtedness being held by a Person other than the Company or a Restricted Subsidiary thereof and (ii) any sale or other transfer of any such Indebtedness to a Person that is not either the Company or a Restricted Subsidiary
thereof, shall be deemed, in each case, to constitute an incurrence of such Indebtedness by the Company or such Restricted Subsidiary, as the case may be, that was not permitted by this clause (6); 

(7) the Guarantee by the Company or any Guarantor of Indebtedness of the Company or a Restricted Subsidiary of the Company
that was permitted to be incurred by another provision of this Section 4.06; 
 (8) the incurrence by the
Company or any Restricted Subsidiary of the Company of additional Indebtedness in an aggregate principal amount (or accreted amount as applicable) at any time outstanding, including all Permitted Refinancing Indebtedness incurred to refund,
refinance or replace any Indebtedness incurred pursuant to this clause (8), not to exceed $100.0 million; 
 (9)
the incurrence of Indebtedness by the Company or any Restricted Subsidiary of the Company arising from the honoring by a bank or other financial institution of a check, draft or similar instrument inadvertently (except in the case of daylight
overdrafts) drawn against insufficient funds in the ordinary course of business; provided that such Indebtedness is extinguished within five Business Days of incurrence; 

(10) Acquired Debt; provided that after giving effect to the incurrence thereof, the Company could incur $1.00 of
indebtedness under Section 4.06(a); 
 (11) the incurrence of Indebtedness of Foreign Subsidiaries in an
aggregate principal amount (or accreted value, as applicable) at any time outstanding, including all Permitted Refinancing Indebtedness incurred to refund, refinance or replace any Indebtedness incurred pursuant to this clause (11), not to exceed
$175.0 million, and Guarantees thereof by any Foreign Subsidiary; 
 (12) (A) Indebtedness in respect of
bid, performance or surety bonds, workers’ compensation claims, self-insurance obligations or health, disability or other benefits to employees or former employees or their families, and Indebtedness incurred in connection with the maintenance

  

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of, or pursuant to the requirements of, environmental or other permits or licenses from governmental authorities, in each case incurred in the ordinary course of business, including guarantees or
obligations of the Company or any Restricted Subsidiary with respect to letters of credit supporting such obligations (in each case other than for an obligation for money borrowed); and (B) Indebtedness consisting of the financing of insurance
premiums, in the ordinary course of business; 
 (13) Indebtedness arising in connection with endorsement of
instruments for deposit in the ordinary course of business; and 
 (14) Indebtedness of the Company or any
Restricted Subsidiary incurred in the ordinary course of business under guarantees of Indebtedness of suppliers, licensees, franchisees or customers in an aggregate amount not to exceed $2.0 million at any time outstanding. 

(c) For purposes of determining compliance with this Section 4.06, in the event that any proposed Indebtedness meets
the criteria of more than one of the categories of Permitted Debt described in clauses (1) through (14) above, or is entitled to be incurred pursuant to Section 4.06(a) of this Section 4.06, the Company will be permitted to
classify at the time of its incurrence such item of Indebtedness in any manner that complies with this Section 4.06. In addition, any Indebtedness originally classified as incurred pursuant to Section 4.06(a) or clauses (1) through
(14) above may later be reclassified by the Company such that it will be deemed as having been incurred pursuant to another of such clauses or Section 4.06(a) above to the extent that such reclassified Indebtedness could be incurred
pursuant to such new clause or Section 4.06(a) at the time of such reclassification (based on circumstances existing at the time of such reclassification). Indebtedness under the Term Loan Agreement outstanding on the date on which Notes are
first issued under the Indenture shall be deemed to have been incurred on such date in reliance on the exception provided by clause (1)(z) of the definition of Permitted Debt. 

(d) Notwithstanding any other provision of this Section 4.06, the maximum amount of Indebtedness that may be incurred
pursuant to this covenant will not be deemed to be exceeded, with respect to any outstanding Indebtedness due solely to the result of fluctuations in the exchange rates of currencies. 

 

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 Section 4.07. Limitation on Restricted Payments. (a) The Company will not,
and will not permit any of its Restricted Subsidiaries to, directly or indirectly: 
 (1) declare or pay any
dividend or make any other payment or distribution on account of the Company’s or any of its Restricted Subsidiaries’ Equity Interests (including, without limitation, any payment in connection with any merger or consolidation involving the
Company or any of its Restricted Subsidiaries) or to the direct or indirect holders of the Company’s or any of its Restricted Subsidiaries’ Equity Interests in their capacity as such (other than dividends, payments or distributions payable
in Equity Interests (other than Disqualified Stock) of the Company or to the Company or a Restricted Subsidiary of the Company); 

(2) purchase, redeem or otherwise acquire or retire for value (including, without limitation, in connection with any
merger or consolidation involving the Company) any Equity Interests of the Company or any direct or indirect parent of the Company, including Holdings; 

(3) make any payment on or with respect to, or purchase, redeem, defease or otherwise acquire or retire for value any
Indebtedness that is contractually subordinated in right of payment to the Notes or the Note Guarantees, except (a) payments of interest on or after Stated Maturity thereof, (b) payments, purchases, redemptions, defeasances or other
acquisitions or retirements for value of principal on or after the date that is one year prior to the Stated Maturity thereof or (c) payments on Indebtedness permitted to be incurred pursuant to clause (6) of Section 4.06(b), or

 (4) make any Restricted Investment 

(all such payments and other actions set forth in clauses (1) through (4) above being collectively referred to as “Restricted
Payments”), unless, at the time of and after giving effect to such Restricted Payment: 
 (1) no Default
or Event of Default shall have occurred and be continuing or would occur as a consequence thereof; and 
 (2) The
Company would, at the time of such Restricted Payment and after giving pro forma effect thereto as if such Restricted Payment had been made at the beginning of the applicable four-quarter period, have been permitted to incur at least $1.00 of
additional Indebtedness pursuant to the Fixed Charge Coverage Ratio test set forth in Section 4.06(a); and 

(3) such Restricted Payment, together with the aggregate amount of all other Restricted Payments made by the Company and
its Restricted Subsidiaries after the Issue Date (excluding Restricted Payments permitted by clauses (2), (3) and (4) (to the extent such dividends are paid to the Company or any of its Restricted Subsidiaries) and (5), (6), (8), (9)(i),
(ii) or (iv), (10), (11), (12) and (13) of the next succeeding paragraph (b)), is less than the sum, without duplication, of: 

(A) 50% of the Consolidated Net Income of the Company for the period (taken as one accounting period) from the beginning
of the fiscal quarter during which the Issue Date occurs to the end of the Company’s most recently ended fiscal quarter for which internal financial statements are available at the time of such Restricted Payment (or, if such Consolidated Net
Income for such period is a deficit, less 100% of such deficit); plus 
  

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 (B) 100% of the aggregate net cash proceeds (and fair market value of
marketable securities or other property) received by the Company after the Issue Date as a contribution to its common equity capital or from the issue or sale of Equity Interests (other than Disqualified Stock) of the Company or from the issue or
sale of convertible or exchangeable Disqualified Stock or convertible or exchangeable debt securities of the Company that have been converted into or exchanged for such Equity Interests (other than Equity Interests (or Disqualified Stock or debt
securities) sold to a Subsidiary of the Company); plus 
 (C) with respect to Restricted Investments made
by the Company and its Restricted Subsidiaries after the date of Issue Date, an amount equal to the net reduction in Investments (other than reductions in Permitted Investments) in any Person resulting from repayments of loans or advances, or other
transfers of assets, in each case to the Company or any Restricted Subsidiary or from the net cash proceeds from the sale of any such Investment (except, in each case, to the extent any such payment or proceeds are included in the calculation of
Consolidated Net Income) from the release of any Guarantee (except to the extent any amounts are paid under such Guarantee) or from redesignations of Unrestricted Subsidiaries as Restricted Subsidiaries, not to exceed, in each case, the amount of
Investments previously made by the Company or any Restricted Subsidiary in such Person or Unrestricted Subsidiary. 
 (b) So
long as, in the case of clauses (7) and (8), no Default has occurred and is continuing or would be caused thereby, the preceding provisions will not prohibit: 

(1) the payment of any dividend within 60 days after the date of declaration thereof, if at said date of declaration such
payment would have complied with the provisions of the Indenture; 
  

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 (2) the redemption, repurchase, retirement, defeasance or other acquisition
of any subordinated Indebtedness of the Company or any Guarantor or of any Equity Interests (including Disqualified Stock) of the Company or any Restricted Subsidiary in exchange for, or out of the net cash proceeds of a contribution to the common
equity of the Company or sale (other than to a Subsidiary of the Company) of, Equity Interests of the Company or any direct or indirect parent of the Company (other than Disqualified Stock) contributed to the equity of the Company, in each case,
within 60 days of such redemption, repurchase, retirement, defeasance or other acquisition; provided that the amount of any such net cash proceeds that are utilized for any such redemption, repurchase, retirement, defeasance or other
acquisition shall be excluded from clause (3)(B) of the preceding paragraph (a); 
 (3) the defeasance,
repayment, redemption, repurchase or other acquisition of subordinated Indebtedness of the Company or any Guarantor with the net cash proceeds from an incurrence of Permitted Refinancing Indebtedness; 

(4) the payment of any dividend or distribution by a Restricted Subsidiary of the Company to the holders of its common
Equity Interests on a pro rata basis; 
 (5) Investments acquired as a capital contribution to, or in
exchange for, or out of the net cash proceeds of an offering of, Equity Interests (other than Disqualified Stock) of the Company or other contributions to the common equity capital of the Company, in each case within 60 days of the acquisition of
such Investment; provided that the amount of any such net cash proceeds that are utilized for any such acquisition or exchange shall be excluded from clause (3)(B) of the preceding paragraph (a); 

(6) the repurchase of Capital Stock deemed to occur upon the exercise of options or warrants if such Capital Stock
represents all or a portion of the exercise price thereof or withholding taxes payable in connection with the exercise thereof; 

(7) the repurchase, redemption or other acquisition or retirement for value of (or payments to Holdings to fund any such
repurchase, redemption or other acquisition of value) any Equity Interests of Holdings (or any direct or indirect parent of Holdings) or the Company held by any employee, former employee, director or former director of the Company (or any of its
Restricted Subsidiaries) or Holdings (or any direct or indirect parent of Holdings) or any permitted transferee of any of the foregoing pursuant to the terms of any employee equity subscription agreement, stock option agreement or similar agreement;
provided that the aggregate price paid for all such repurchased, redeemed, acquired or retired Equity Interests in any fiscal year, and any payment by the Company to Holdings to enable Holdings (or any direct or indirect parent of Holdings)
to make 
  

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such payments, shall not exceed the sum of (x) $5.0 million and (y) the amount of Restricted Payments permitted but not made pursuant to this clause (7) in prior fiscal years;
provided that no more than $10.0 million may be carried forward in any fiscal year; 
 (8) the payment,
repurchase, redemption, defeasance or other acquisition or retirement for value of any subordinated Indebtedness required in accordance with provisions applicable thereto similar to those described under Sections 4.11 and 4.12; provided that
all Notes tendered by Holders in connection with a Change of Control Offer or Asset Sale Offer, as applicable, have been repurchased, redeemed or acquired for value; 

(9) payments made to Holdings (i) to allow Holdings (or any direct or indirect parent of Holdings) to pay
administrative expenses and corporate overhead, franchise fees, public company costs (including SEC and auditing fees) and customary director fees in an aggregate amount not to exceed $5 million in any calendar year; (ii) to allow Holdings to
pay premiums and deductibles in respect of directors and officers insurance policies and umbrella excess insurance policies obtained from third-party insurers and indemnities for the benefit of its directors, officers and employees, (iii) to
allow Holdings or such other parent of the Company to pay reasonable fees and expenses incurred in connection with any unsuccessful debt or equity offering or any unsuccessful acquisition or strategic transaction by such direct or indirect parent
company of the Company and (iv) to allow Holdings (or any direct or indirect parent of Holdings) to pay income taxes attributable to the Company and its Subsidiaries in an amount not to exceed the amount of such taxes that would be payable by
the Company and its Subsidiaries on a stand-alone basis (if the Company were a corporation and parent of a consolidated group including its Subsidiaries); provided that any payments pursuant to this clause (iv) in any period not
otherwise deducted in calculating Consolidated Net Income shall be deducted in calculating Consolidated Net Income for such period (and shall be deemed to be a provision for taxes for purposes of calculating Consolidated Cash Flow for such period);

 (10) Restricted Payments not otherwise permitted hereby in an aggregate amount not to exceed $75.0 million;

 (11) (A) the declaration and payment of dividends to holders of any class or series of Disqualified Stock
of the Company or any Restricted Subsidiary or Preferred Stock of any Restricted Subsidiary issued in accordance with Section 4.06 to the extent such dividends are included in the definition of Fixed Charges and payment of any redemption price
or liquidation value of any such Disqualified Stock or Preferred Stock when due at final maturity in accordance with its terms and (B) the declaration 

 

 62 

 
and payment of dividends to a direct or indirect parent company of the Company, the proceeds of which will be used to fund the payment of dividends to holders of any class or series of Preferred
Stock (other than Disqualified Stock) of such parent company issued after the Issue Date; provided that (i) the aggregate amount of dividends paid pursuant to this clause (B) shall not exceed the aggregate amount of cash actually
contributed to the Company from the sale of such Preferred Stock and (ii) the amount of cash used to make any payments pursuant to this clause (B) shall be excluded from calculations pursuant to clause (3) of the first paragraph above
and shall not be used for the purpose of any other Restricted Payment; 
 (12) any Restricted Payments used to
fund the Transactions and the fees and expenses related thereto, including those owed to Affiliates, as described under “Use of Proceeds” in the Offering Circular; 

(13) any “deemed dividend” resulting under the tax laws from, or in connection with, the filing of a
consolidated or combined tax return by Holdings or any direct or indirect parent of the Company (and not involving any cash distribution from the Company or any Restricted Subsidiary except as permitted by clause (9)(iv) above); and 

(14) the payment of dividends to Holdings to fund a payment of dividends on Holdings’ common stock (or the common
stock of any direct or indirect parent of Holdings), following the first public offering of Holdings’ common stock (or the common stock of any of its direct or indirect parent companies) after the Issue Date, of up to 6% per annum of the
net cash proceeds received by or contributed to the Company as a contribution to equity in or from any such public offering. 

(c) The amount of all Restricted Payments (other than cash) shall be the fair market value on the date of the Restricted Payment of the
asset(s) or securities proposed to be transferred or issued to or by the Company or such Subsidiary, as the case may be, pursuant to the Restricted Payment. The fair market value of any assets or securities in excess of $10.0 million that are
required to be valued by this covenant shall be determined by the Board of Directors. 
 (d) For purposes of determining
compliance with this Section 4.07, in the event that a proposed Restricted Payment (or portion thereof) meets the criteria of more than one of the categories of Restricted Payments described in clauses (1) through (14) above, or is
entitled to be incurred pursuant to Section 4.07(a), the Company will be entitled to classify or re-classify (based on circumstances existing on the date of such reclassification) such Restricted Payment or portion thereof in any manner that
complies with this Section 4.07 and such Restricted Payment will be treated as having been made pursuant to only such clause or clauses or Section 4.07(a). 

 

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 Section 4.08. Limitation on Liens. The Company will not, and will not permit any
of its Restricted Subsidiaries to, create, incur, assume or otherwise cause or suffer to exist or become effective any Lien of any kind (other than Permitted Liens) upon any of their property or assets, now owned or hereafter acquired. 

Section 4.09. Limitation on Dividend and other Payment Restrictions Affecting Restricted Subsidiaries. (a) Except as
provided in paragraph (b) of this Section 4.09, the Company will not, and will not permit any of its Restricted Subsidiaries to, directly or indirectly, create or permit to exist or become effective any consensual encumbrance or
restriction on the ability of any Restricted Subsidiary to: 
 (1) pay dividends or make any other distributions
on its Capital Stock (or with respect to any other interest or participation in, or measured by, its profits) to the Company or any of its Restricted Subsidiaries or pay any liabilities owed to the Company or any of its Restricted Subsidiaries;

 (2) make loans or advances to the Company or any of its Restricted Subsidiaries; or 

(3) transfer any of its properties or assets to the Company or any of its Restricted Subsidiaries. 

(b) The provisions of 4.09(a) do not apply to any encumbrances or restrictions existing under or by reason of or with respect to:

 (1) the Revolving Credit Agreement, the Term Loan Agreement, Existing Indebtedness or any other agreements as
in effect on the Issue Date; 
 (2) applicable law, rule, regulation or order; 

(3) any Person or the property or assets of a Person acquired by the Company or any of its Restricted Subsidiaries
existing at the time of such acquisition and not incurred in connection with or in contemplation of such acquisition, which encumbrance or restriction is not applicable to any Person or the properties or assets of any Person, other than the Person,
or the property or assets of the Person, so acquired; 
  

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 (4) in the case of clause (a)(3) of this Section 4.09: 

(a) provisions that restrict in a customary manner the subletting, assignment or transfer of any property or asset that is
a lease, license, conveyance or contract or similar property or asset; 
 (b) restrictions existing by virtue of
any transfer of, agreement to transfer, option or right with respect to, or Lien on, any property or assets of the Company or any Restricted Subsidiary not otherwise prohibited by the Indenture; or 

(c) restrictions arising or agreed to in the ordinary course of business, not relating to any Indebtedness, and that do
not, individually or in the aggregate, detract from the value of property or assets of the Company or any Restricted Subsidiary in any manner material to the Company or any Restricted Subsidiary; 

(5) customary provisions with respect to the disposition or distribution of assets or property in joint venture agreements
and other similar agreements; 
 (6) any agreement for the sale or other disposition of all or substantially all
of the capital stock of, or property and assets of, a Restricted Subsidiary that restricts distributions by that Restricted Subsidiary pending such sale or other disposition; 

(7) Indebtedness of a Foreign Subsidiary permitted to be incurred under the Indenture; provided that (a) such
encumbrances or restrictions are ordinary and customary with respect to the type of Indebtedness being incurred and (b) such encumbrances or restrictions will not affect the Company’s ability to make principal and interest payments on the
Notes, as determined in good faith by the Board of Directors of the Company; 
 (8) the Indenture, the Notes, the
Exchange Notes, any Additional Notes or the Guarantees; 
 (9) restrictions on cash or other deposits or net
worth imposed by customers under contracts entered into in the ordinary course of business; 
 (10) other
Indebtedness, Disqualified Stock or Preferred Stock of Restricted Subsidiaries permitted to be incurred after the Issue Date pursuant to Section 4.06; provided that (i) such restrictions are customary for financings of such type and
(ii) such restrictions will not (in the good faith judgment of the Board of Directors) impair the Company’s ability to make principal and interest payments on the Notes; 

 

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 (11) restrictions or conditions contained in any trading, netting,
operating, construction, service, supply, purchase or other agreement to which the Company or any of its Restricted Subsidiaries is a party and entered into in the ordinary course of business; provided that such agreement prohibits the
encumbrance of solely the property or assets of the Company or such Restricted Subsidiary that are the subject of such agreement, the payment rights arising thereunder or the proceeds thereof and does not extend to any other asset or property of the
Company or such Restricted Subsidiary or the assets or property of any other Restricted Subsidiary; 
 (12) any
instrument governing any Indebtedness or Capital Stock of a Person that is an Unrestricted Subsidiary as in effect on the date that such Person becomes a Restricted Subsidiary, which encumbrance or restriction is not applicable to any Person, or the
properties or assets of any Person, other than the Person who became a Restricted Subsidiary, or the property or assets of the Person who became a Restricted Subsidiary and was not entered into in contemplation of the designation of such Subsidiary
as a Restricted Subsidiary; provided that, in the case of Indebtedness, the incurrence of such Indebtedness as a result of such Person becoming a Restricted Subsidiary was permitted by the terms of the Indenture; and 

(13) any encumbrances or restrictions of the type referred to in clauses (1), (2) and (3) of
Section 4.09(a) imposed by any amendments, modifications, restatements, renewals, increases, supplements, refundings, replacements or refinancings of the contracts, instruments or obligations referred to in clauses (1) through
(12) above; provided that such amendments, modifications, restatements, renewals, increases, supplements, refundings, replacements or refinancings are, in the good faith judgment of the Company’s Board of Directors, not materially
more restrictive with respect to such encumbrance and other restrictions than those prior to such amendment, modification, restatement, renewal, increase, supplement, refunding, replacement or refinancing. 

For purposes of determining compliance with this Section 4.09, (i) the priority of any Preferred Stock in receiving dividends
or liquidating distributions prior to dividends or liquidating distributions being paid on common stock shall not be deemed a restriction on the ability to make distributions on Capital Stock and (ii) the subordination of loans or advances made
to the Company or a Restricted Subsidiary of the Company to other Indebtedness incurred by the Company or any such Restricted Subsidiary shall not be deemed a restriction on the ability to make loans or advances. 

Section 4.10. Guarantees. (a) If the Company or any of its Restricted Subsidiaries acquires or creates another Domestic
Subsidiary on or after the Issue Date, then that newly acquired or created Domestic Subsidiary must become a Guarantor and execute a supplemental indenture in the form of Exhibit B and deliver an Opinion of Counsel to the Trustee and pledge its
assets as set forth under Section 10.02(b). 
  

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 (b) A Guarantor may not sell or otherwise dispose of all or substantially all of its assets
to, or consolidate with or merge with or into (whether or not such Guarantor is the surviving Person), another Person, other than the Company or another Guarantor unless: 

(1) immediately after giving effect to that transaction, no Default or Event of Default exists; and 

(2) either: 

(a) the Person acquiring the property in any such sale or disposition or the Person formed by or surviving any such
consolidation or merger (if other than the Guarantor) is a Person organized or existing under the laws of the United States, any state thereof or the District of Columbia and assumes all the obligations of that Guarantor under the Indenture, Note
Guarantee, the Registration Rights Agreement and the Security Documents pursuant to a supplemental indenture satisfactory to the Trustee; or 

(b) except in the case of Holdings, such sale or other disposition or consolidation or merger complies with
Section 4.12. 
 Section 4.11. Repurchase of Notes Upon a Change of Control. (a) If a Change of Control
occurs, each Holder of Notes shall have the right to require the Company to repurchase all or any part (equal to $2,000 or a higher multiple of $1,000) of that Holder’s Notes pursuant to an Offer to Purchase (the “Change of Control
Offer”). In such Change of Control Offer, the Company will offer a payment (such payment, a “Change of Control Payment”) in cash equal to 101% of the aggregate principal amount of Notes repurchased, plus accrued and unpaid
interest thereon, if any, to the date of purchase. 
 (b) Within 30 days following any Change of Control, the Company will mail
a notice to each Holder describing the transaction or transactions that constitute the Change of Control and offering to repurchase Notes on the date specified in such notice (the “Change of Control Payment Date”), which date shall
be no earlier than 30 days and no later than 60 days from the date such notice is mailed, pursuant to the procedures required by Section 3.04 and described in such notice. 

(c) On or before the Change of Control Payment Date, the Company will, to the extent lawful: 

(1) accept for payment all Notes or portions thereof properly tendered pursuant to the Change of Control Offer;

  

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 (2) deposit with the Paying Agent an amount equal to the Change of Control
Payment in respect of all Notes or portions thereof properly tendered; and 
 (3) deliver or cause to be
delivered to the Trustee the Notes so accepted together with an Officer’s Certificate stating the aggregate principal amount of Notes or portions thereof being purchased by the Company. 

(d) The Paying Agent will promptly mail or wire transfer to each Holder of Notes properly tendered the Change of Control Payment for such
Notes, and the Trustee will promptly authenticate and mail (or cause to be transferred by book entry) to each Holder a new Note equal in principal amount to any unpurchased portion of the Notes surrendered, if any; provided that such new Note
will be in a principal amount of $2,000 or a higher integral multiple of $1,000. 
 (e) This Section 4.11 shall be
applicable regardless of whether any other Sections of this Indenture are applicable. 
 (f) The Company will not be required to
make a Change of Control Offer upon a Change of Control if (1) a third party makes the Change of Control Offer in the manner, at the times and otherwise in compliance with the requirements set forth in the Indenture applicable to a Change of
Control Offer made by the Company and purchases all Notes validly tendered and not withdrawn under such Change of Control Offer or (2) notice of redemption has been given pursuant to the Indenture as described under Section 3.01, unless
and until there is a default in payment of the applicable redemption price. 
 (g) A Change of Control Offer may be made in
advance of a Change of Control, conditional upon such Change of Control, if a definitive agreement is in place for the Change of Control at the time of making of the Change of Control Offer. 

Section 4.12. Limitation on Asset Sales. (a) The Company will not, and will not permit any of its Restricted
Subsidiaries to, consummate an Asset Sale unless: 
 (1) The Company (or the Restricted Subsidiary, as the case
may be) receives consideration at the time of such Asset Sale at least equal to the fair market value of the assets or Equity Interests issued or sold or otherwise disposed of; and 

 

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 (2) at least 75% of the consideration therefore received by the Company or
such Restricted Subsidiary is in the form of Cash Equivalents or Replacement Assets (which Replacement Assets and non-cash consideration shall (except as permitted by clause (4) under the definition of “Permitted Investment”) be
pledged as Primary Collateral to the extent the assets disposed of were Primary Collateral) or a combination of both. For purposes of this clause, each of the following shall be deemed to be Cash Equivalents: 

(A) any liabilities (as shown on the Company’s or such Restricted Subsidiary’s most recent balance sheet) of the
Company or any Restricted Subsidiary (other than contingent liabilities, Indebtedness that is by its terms subordinated to the Notes or any Note Guarantee and liabilities to the extent owed to the Company or any Affiliate of the Company) that are
assumed by the transferee of any such assets and with respect to which the Company and its Restricted Subsidiaries are unconditionally released from further liability in writing; 

(B) any securities, notes or other obligations received by the Company or any such Restricted Subsidiary from such
transferee that are converted by the Company or such Restricted Subsidiary into cash (to the extent of the cash received in that conversion) within 180 days of the applicable Asset Sale; and 

(C) any Designated Non-cash Consideration received by the Company or any of its Restricted Subsidiaries in such Asset Sale
having an aggregate fair market value, taken together with all other Designated Non-cash Consideration received pursuant to this clause (C) that is at that time outstanding, not to exceed the greater of $10.0 million or 1.0% of Consolidated Net
Tangible Assets at the time of the receipt of such Designated Non-cash Consideration (with the fair market value of each item of Designated Non-cash Consideration being measured at the time received and without giving effect to subsequent changes in
value); provided that such Designated Non-cash Consideration shall (except as permitted by clause (4) under the definition of “Permitted Investment”) be pledged as Primary Collateral to the extent the assets disposed of were
Primary Collateral. 
 If at any time any non-cash consideration received by the Company or any Restricted Subsidiary, as the
case may be, in connection with any Asset Sale is repaid or converted into or sold or otherwise disposed of for cash (other than interest received with respect to any such non-cash consideration), then the date of such repayment, conversion or
disposition shall be deemed to constitute the date of an Asset Sale hereunder and the Net Proceeds thereof shall be applied in accordance with this Section 4.12. 

 

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 (b) Within 360 days after the receipt of any Net Proceeds from an Asset Sale, the Company
may apply such Net Proceeds at its option: 
 (1) unless the assets disposed of were Primary Collateral, to repay
Revolving Credit Obligations or Indebtedness of a non-Guarantor Restricted Subsidiary owed to a Person that is not an Affiliate of the Company and, except in the case of Revolving Credit Obligations, if the Indebtedness repaid is revolving credit
Indebtedness, to correspondingly reduce commitments with respect thereto; 
 (2) to prepay, repay or repurchase
the Notes, the Term Loan Obligations or other Pari-Passu Obligations; provided that the Company ratably repays the Notes through redemption or open market purchases (at a purchase price at least equal to 100% of their principal amount); or

 (3) to purchase Replacement Assets or make a capital expenditure in or that is used or useful in a Permitted
Business; provided that (except as permitted by clause (4) under the definition of “Permitted Investment”) the assets (including Voting Stock) acquired with the Net Proceeds of a disposition of Primary Collateral are pledged as
Primary Collateral under the Security Documents substantially simultaneously with such acquisition in accordance with the requirements of the Indenture; provided that, if during the 365 day period following the consummation of an Asset Sale,
the Company or a Restricted Subsidiary enters into a definitive binding agreement committing it to apply the Net Proceeds in accordance with the requirements of this clause (3) after such 365 period, such 365 day period will be extended with
respect to the amount of Net Proceeds so committed until such Net Proceeds are required to be applied in accordance with such agreement (but such extension will in no event be for a period longer than 180 days) or, if earlier, the date of
termination of such agreement. 
 Following the entering into of a binding agreement with respect to an Asset Sale and prior to the consummation
thereof, Cash Equivalents (whether or not actual Net Proceeds of such Asset Sale) used for the purposes described in clause (3) that are designated as used in accordance with clause (3), and not previously or subsequently so designated in
respect of any other Asset Sale, shall be deemed to be Net Proceeds applied in accordance with clause (3). 
 (c) Pending the
final application of any such Net Proceeds, the Company may temporarily reduce revolving credit borrowings or otherwise invest such Net Proceeds in any manner that is not prohibited by the Indenture. 

(d) Any Net Proceeds from Asset Sales that are not applied or invested as provided in clause (1), (2) or (3) of
Section 4.12(b) will constitute “Excess Proceeds.” Within 30 days after the aggregate amount of Excess Proceeds exceeds $50.0 million, the Company will make an Asset Sale Offer (using the procedures

  

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set forth in Section 3.04) to all Noteholders and all holders of other Indebtedness that is pari passu with the Notes or any Note Guarantee and secured by Liens ranking on a parity
with the Liens securing the Notes and Note Guarantees containing provisions similar to those set forth in the Indenture with respect to offers to purchase with the proceeds of sales of assets, to purchase the maximum principal amount of the Notes
and such other pari passu Indebtedness that may be purchased out of the Excess Proceeds. The offer price in any Asset Sale Offer will be equal to 100% of the principal amount of the Notes and such other pari passu Indebtedness plus
accrued and unpaid interest to the date of purchase, and will be payable in cash. If any Excess Proceeds remain after consummation of an Asset Sale Offer, the Company may use such Excess Proceeds for any purpose not otherwise prohibited by the
Indenture. If the aggregate principal amount of the Notes and such other pari passu Indebtedness tendered into such Asset Sale Offer exceeds the amount of Excess Proceeds, the Notes and such other pari passu Indebtedness shall be
purchased on a pro rata basis based on the principal amount of the Notes and such other pari passu Indebtedness tendered. Upon completion of each Asset Sale Offer, the amount of Excess Proceeds shall be reset at zero. 

Section 4.13. Limitation on Transactions with Affiliates. (a) The Company will not, and will not permit any of its
Restricted Subsidiaries to, make any payment to, or sell, lease, transfer or otherwise dispose of any of its properties or assets to, or purchase any property or assets from, or enter into, make, amend, renew or extend any transaction, contract,
agreement, understanding, loan, advance or Guarantee with, or for the benefit of, any Affiliate (each, an “Affiliate Transaction”) involving payments of consideration in excess of $5.0 million, unless: 

(1) such Affiliate Transaction is on terms that are no less favorable to the Company or the relevant Restricted Subsidiary
than those that would have been obtained in a comparable arm’s-length transaction by the Company or such Restricted Subsidiary with a Person that is not an Affiliate of the Company; and 

(2) The Company delivers to the Trustee: 

(A) with respect to any Affiliate Transaction or series of related Affiliate Transactions involving aggregate
consideration in excess of $25.0 million, a resolution of the Board of Directors set forth in an Officer’s Certificate certifying that such Affiliate Transaction or series of related Affiliate Transactions complies with clause (1) of this
Section 4.13(a) and that such Affiliate Transaction or series of related Affiliate Transactions has been approved by a majority of the disinterested members of the Board of Directors; and 

 

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 (B) with respect to any Affiliate Transaction or series of related Affiliate
Transactions involving aggregate consideration in excess of $50.0 million, an opinion as to the fairness to the Company or such Restricted Subsidiary of such Affiliate Transaction or series of related Affiliate Transactions from a financial point of
view issued by an independent accounting, appraisal or investment banking firm of national standing. 
 (b) The following items
shall not be deemed to be Affiliate Transactions and, therefore, will not be subject to Section 4.13(a): 

(1) transactions between or among the Company and/or its Restricted Subsidiaries; 

(2) payment of reasonable and customary fees and compensation to, and reasonable and customary indemnification
arrangements and similar payments on behalf of, directors of the Company; 
 (3) Restricted Payments that are
permitted by Section 4.07; 
 (4) any sale of Capital Stock (other than Disqualified Stock) of the Company;

 (5) loans and advances to officers and employees of the Company or any of its Restricted Subsidiaries or
Holdings (or any direct or indirect parent of Holdings) for bona fide business purposes in the ordinary course of business consistent with past practice; 

(6) any employment, consulting, service or termination agreement, or reasonable and customary indemnification
arrangements, entered into by the Company or any of its Restricted Subsidiaries with officers and employees of the Company or any of its Restricted Subsidiaries or Holdings (or any direct or indirect parent of Holdings) and the payment of
compensation to officers and employees of the Company or any of its Restricted Subsidiaries (including amounts paid pursuant to employee benefit plans, employee stock option or similar plans), in each case in the ordinary course of business;

 (7) any agreements or arrangements in effect on the Issue Date, or any amendment, modification, or supplement
thereto or any replacement thereof, as long as such agreement or arrangement, as so amended, modified, supplemented or replaced, taken as a whole, is not more disadvantageous to the Company and its Restricted Subsidiaries than the original agreement
as in effect on the Issue Date, as determined in good faith by the Company’s Board of Directors, and any transactions contemplated by any of the foregoing agreements or arrangements; 

 

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 (8) transactions with customers, clients, suppliers, joint ventures, joint
venture partners, Unrestricted Subsidiaries or purchasers or sellers of goods and services, in each case in the ordinary course of business and on terms no less favorable than that available from non-affiliates (as determined by the Company) and
otherwise not prohibited by the Indenture; 
 (9) any transaction with an Affiliate (i) where the only
consideration paid by the Company or any Restricted Subsidiary is Qualified Stock or (ii) consisting of the provision of customary registration rights; 

(10) the payment of all Transaction Expenses by the Company and its Restricted Subsidiaries as described in the Offering
Circular; 
 (11) any merger, consolidation or reorganization of the Company (otherwise permitted by the
Indenture) with an Affiliate of the Company solely for the purpose of (a) reorganizing to facilitate an initial public offering of securities of the Company or a direct or indirect parent of the Company, (b) forming or collapsing a holding
company structure or (c) reincorporating the Company in a new jurisdiction; 
 (12) transactions between the
Company or any of its Restricted Subsidiaries and any Person that is an Affiliate solely because one or more of its directors is also a director of the Company or any direct or indirect parent of the Company; provided that such director
abstains from voting as a director of the Company or such direct or indirect parent, as the case may be, on any matter involving such other Person; and 

(13) the entering into of any tax sharing agreement or arrangement or any other transactions undertaken in good faith that
is consistent with paragraph (b)(9)(iv) of Section 4.07. 
 Section 4.14. Designation of Restricted and
Unrestricted Subsidiaries. (a) The Board of Directors may designate any Restricted Subsidiary to be an Unrestricted Subsidiary; provided that: 

(1) any Guarantee by the Company or any Restricted Subsidiary of any Indebtedness of the Subsidiary being so designated
will be deemed to be an incurrence of Indebtedness by the Company or such Restricted Subsidiary (or both, if applicable) at the time of such designation, and such incurrence of Indebtedness would be permitted under Section 4.06; 

(2) the aggregate fair market value of all outstanding Investments owned by the Company and its Restricted Subsidiaries in
the Subsidiary being so designated (including any Guarantee by the Company or any Restricted Subsidiary of any Indebtedness of such Subsidiary) will be deemed to be a Restricted Investment made as of the time of such designation and that such
Investment would be permitted under Section 4.07; 
  

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 (3) such Subsidiary does not own any Equity Interests of, or hold any Liens
on any Property of, the Company or any Restricted Subsidiary; 
 (4) the Subsidiary being so designated:

 (a) is not party to any agreement, contract, arrangement or understanding with the Company or any Restricted
Subsidiary of the Company that would not be permitted under Section 4.13 and; 
 (b) except as permitted
under clauses (1) and (2) above, is a Person with respect to which neither the Company nor any of its Restricted Subsidiaries has any direct or indirect obligation (a) to subscribe for additional Equity Interests or (b) to
maintain or preserve such Person’s financial condition or to cause such Person to achieve any specified levels of operating results. 

(5) no Default or Event of Default would be in existence following such designation. 

(b) (1) Any designation of a Restricted Subsidiary of the Company as an Unrestricted Subsidiary shall be evidenced to the Trustee by
filing with the Trustee a certified copy of the resolution of the Board of Directors giving effect to such designation and an Officer’s Certificate certifying that such designation complied with the preceding conditions and was permitted by the
Indenture. If, at any time, any Unrestricted Subsidiary would fail to meet any of the preceding requirements described in clause (4) above, it shall thereafter cease to be an Unrestricted Subsidiary for purposes of the Indenture and any
Indebtedness, Investments, or Liens on the property, of such Subsidiary shall be deemed to be incurred by a Restricted Subsidiary of the Company as of such date and, if such Indebtedness, Investments or Liens are not permitted to be incurred as of
such date under the Indenture, the Company shall be in default under the Indenture. 
 (2) The Board of Directors
of the Company may at any time designate any Unrestricted Subsidiary to be a Restricted Subsidiary; provided that: 

(A) such designation shall be deemed to be an incurrence of Indebtedness by a Restricted Subsidiary of the Company of any
outstanding Indebtedness of such Unrestricted Subsidiary and such designation shall only be permitted if such Indebtedness is permitted under Section 4.06, calculated on a pro forma basis as if such designation had occurred at the
beginning of the four-quarter reference period; 
  

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 (B) all outstanding Investments owned by such Unrestricted Subsidiary will
be deemed to be made as of the time of such designation and such Investments shall only be permitted if such Investments would be permitted under Section 4.07; 

(C) all Liens upon property or assets of such Unrestricted Subsidiary existing at the time of such designation would be
permitted under Section 4.08; and 
 (D) no Default or Event of Default would be in existence following such
designation. 
 Section 4.15. Anti-Layering. The Company shall not incur any Indebtedness that is subordinated or
junior in right of payment to any Indebtedness of the Company unless it is subordinated in right of payment to the Notes at least to the same extent. No Guarantor shall incur any Indebtedness that is subordinated or junior in right of payment to the
Indebtedness of such Guarantor unless it is subordinated in right of payment to such Guarantor’s Note Guarantee at least to the same extent. For purposes of the foregoing, no Indebtedness will be deemed to be subordinated or junior in right of
payment to any other Indebtedness of the Company or any Guarantor, as applicable, solely by reason of any Liens or Guarantees arising or created in respect thereof or by virtue of the fact that the holders of any secured Indebtedness have entered
into intercreditor agreements giving one or more of such holders priority over the other holders in the collateral held by them. 

Section 4.16. Reports. (a) So long as any Notes are outstanding, the Company will file with the Commission and furnish
to the Trustee and, upon request, to the Holders: 
 (1) within 90 days after the end of each fiscal year, an
annual report on Form 10-K; 
 (2) within 45 days after the end of each of the first three fiscal quarters of
each fiscal year, a quarterly report on Form 10-Q; and 
 (3) promptly from time to time after the occurrence of
an event required to be therein reported pursuant to Form 8-K, a current report on Form 8-K. 
  

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 If the Company is no longer subject to the periodic reporting requirements of the Exchange
Act for any reason, the Company will nevertheless continue filing the reports specified in the preceding paragraphs of this Section 4.16 with the Commission within the time periods specified above unless the Commission will not accept such a
filing. If the Commission will not accept the Company’s filings for any reason, the Company will furnish the reports referred to in the preceding paragraphs to the Trustee within the time periods that would apply if the Company were required to
file those reports with the Commission. The Company will not take any action for the purpose of causing the Commission not to accept any such filings. Any information filed with, or furnished to, the Commission via EDGAR shall be deemed to have been
made available to the Trustee and the registered Holders of the Notes. 
 (b) Notwithstanding the foregoing, if Holdings or any
other direct or indirect parent of the Company fully and unconditionally guarantees the Notes, the filing of such reports by such parent within the time periods specified above will satisfy such obligations of the Company; provided that such
reports shall include the information required by Rule 3-10 of Regulation S-X with respect to the Company and the Guarantors. 

(c) The Company shall distribute such information and such reports to the Trustee, and make them available, upon request, to any Holder
and to any such prospective investor or securities analyst. To the extent not satisfied by the foregoing, the Company shall also make publicly available the information required to be available pursuant to Rule 144A(d)(4) under the Securities Act.

 Section 4.17. Reports to Trustee. (a) The Company will deliver to the Trustee within 120 days after the end
of each fiscal year an Officer’s Certificate stating that the Company has fulfilled its obligations hereunder or, if there has been a Default or an Event of Default, specifying the Default or Event of Default and its nature and status.

 (b) The Company will deliver to the Trustee, as soon as possible and in any event within 30 days after the Company becomes
aware or should reasonably become aware of the occurrence of any Default or an Event of Default, an Officer’s Certificate setting forth the details of the Default or Event of Default, and the action which the Company proposes to take with
respect thereto. 
 (c) The Company will notify the Trustee when any Notes are listed on any national securities exchange and of
any delisting. 
 Section 4.18. Impairment of Security Interest; Further Assurances.  

(a) Neither the Company nor any of its Restricted Subsidiaries will take any action, or knowingly omit to take any action, which action
or omission could reasonably be expected to have the result of materially impairing the security interest with respect to the Collateral for the benefit of the Trustee and the Holders of Notes. 

 

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 (b) The Company and each of its Restricted Subsidiaries will make, execute, endorse,
acknowledge, file, record, register and/or deliver such agreements, documents, instruments, and further assurances (including, without limitation, Uniform Commercial Code financing statements, mortgages, deeds of trust, schedules, confirmatory
assignments, conveyances, transfer endorsements, certificates, real property surveys, reports, landlord waivers, bailee agreements and control agreements), and take such other actions, as may be required under applicable law or as necessary to cause
the Collateral Requirement to be and remain satisfied and otherwise to create, perfect, preserve or protect the security interest in the Collateral of the secured parties under the Security Documents, all at the Company’s expense. 

Section 4.19. Limitation on Activities of Holdings. Holdings shall not engage in any material activities or hold any material
assets other than holding the Capital Stock of the Company and those activities incidental thereto and (b) will not incur any material liabilities other than liabilities relating to its Guarantee of the Notes, its Guarantee of any other
Indebtedness of the Company or any of its Subsidiaries and any other obligations or liabilities incidental to its activities as a holding company. 

ARTICLE 5 

CONSOLIDATION, MERGER OR SALE OF ASSETS

 Section 5.01. Consolidation, Merger or Sale of Assets. (a) The Company will not, directly or indirectly:

 (1) consolidate or merge with or into another Person (whether or not the Company is the surviving corporation)
or 
 (2) sell, assign, transfer, convey or otherwise dispose of all or substantially all of the properties and
assets of the Company and its Restricted Subsidiaries taken as a whole, in one or more related transactions, to another Person or Persons, unless: 

(A) either: (x) the Company is the surviving corporation; or (y) the Person formed by or surviving any such
consolidation or merger (if other than the Company) or to which such sale, assignment, transfer, conveyance or other disposition shall have been made (i) is a corporation or limited liability company organized or existing under the laws of the
United States, any state thereof or the District of Columbia and (ii) assumes all the obligations of the Company under the Notes, the Indenture, the Registration Rights Agreement and the Security Documents pursuant to agreements reasonably
satisfactory to the Trustee; 
  

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 (B) immediately after giving effect to such transaction no Default or Event
of Default exists; and 
 (C) immediately after giving effect to such transaction on a pro forma basis,
the Company or the Person formed by or surviving any such consolidation or merger (if other than the Company), or to which such sale, assignment, transfer, conveyance or other disposition shall have been made, will, on the date of such transaction
after giving pro forma effect thereto and any related financing transactions as if the same had occurred at the beginning of the applicable four-quarter period, be permitted to incur at least $1.00 of additional Indebtedness pursuant to the
Fixed Charge Coverage Ratio test set forth in Section 4.06(a). 
 In addition, neither the Company nor any Restricted
Subsidiary may, directly or indirectly, lease all or substantially all of its properties or assets, in one or more related transactions, to any other Person. Clauses (B) and (C) of Section 5.01(a)(2) will not apply to any merger,
consolidation or sale, assignment, transfer, lease, conveyance or other disposition of assets between or among the Company and any of its Restricted Subsidiaries. 

(b) Upon the consummation of any transaction effected in accordance with these provisions, if the Company is not the continuing Person,
the resulting, surviving or transferee Person will succeed to, and be substituted for, and may exercise every right and power of, the Company under the Indenture and the Notes with the same effect as if such successor Person had been named as the
Company in the Indenture. Upon such substitution, except in the case of a sale, conveyance, transfer or disposition of less than all its assets the Company will be released from its obligations under the Indenture and the Notes. 

ARTICLE 6 

DEFAULT AND REMEDIES 

Section 6.01. Events of Default. Each of the following is an “Event of Default”:

 (1) default for 30 days in the payment when due of interest on the Notes; 

(2) default in payment when due (whether at maturity, upon acceleration, redemption or otherwise) of the principal of, or premium, if
any, on the Notes; 
 (3) failure by the Company or any of its Restricted Subsidiaries to comply with Sections 4.10(b), 4.11,
4.12 or Article 5; 
  

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 (4) failure by the Company or any of its Restricted Subsidiaries for 60 days after written
notice by the Trustee or Holders representing 25% or more of the aggregate principal amount of Notes outstanding to comply with any of the other agreements in the Indenture; 

(5) default under any mortgage, indenture or instrument under which there may be issued or by which there may be secured or evidenced any
Indebtedness for money borrowed by the Company or any of its Restricted Subsidiaries (or the payment of which is Guaranteed by the Company or any of its Restricted Subsidiaries) whether such Indebtedness or Guarantee now exists, or is created after
the Issue Date, if that default: 
  

	 	(a)	is caused by a failure to make any payment of principal at the final maturity of such Indebtedness (a “Payment Default”); or 

 

	 	(b)	results in the acceleration of such Indebtedness prior to its express maturity, 

and, in each case, the principal amount of any such Indebtedness, together with the principal amount of any other such Indebtedness under
which there has been a Payment Default or the maturity of which has been so accelerated, aggregates $50.0 million or more; 

(6) failure by the Company or any of its Restricted Subsidiaries to pay final judgments (to the extent such judgments are not paid or
covered by insurance provided by a carrier that has acknowledged coverage in writing and has the ability to perform) aggregating in excess of $50.0 million, which judgments are not paid, discharged or stayed for a period of 60 days; 

(7) except as permitted by the Indenture, any Note Guarantee shall be held in any judicial proceeding to be unenforceable or invalid or
shall cease for any reason to be in full force and effect or any Guarantor, or any authorized Person acting on behalf of any Guarantor, shall deny or disaffirm its obligations under its Note Guarantee; 

(8) an involuntary case or other proceeding is commenced against the Company or any Significant Subsidiary with respect to it or its
debts under any bankruptcy, insolvency or other similar law now or hereafter in effect seeking the appointment of a trustee, receiver, liquidator, custodian or other similar official of it or any substantial part of its property, and such
involuntary case or other proceeding remains undismissed and unstayed for a period of 60 days; or an order for relief is entered against the Company or any Significant Subsidiary under the federal bankruptcy laws as now or hereafter in effect;

  

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 (9) the Company or any of its Significant Subsidiaries (i) commences a voluntary case
under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, or consents to the entry of an order for relief in an involuntary case under any such law, (ii) consents to the appointment of or taking possession by
a receiver, liquidator, assignee, custodian, trustee, sequestrator or similar official of the Company or any of its Significant Subsidiaries or for all or substantially all of the property and assets of the Company or any of its Significant
Subsidiaries or (iii) effects any general assignment for the benefit of creditors (an event of default specified in clause (8) or (9) a “bankruptcy default”); and 

(10) (a) the Liens created by the Security Documents shall at any time not constitute a valid and perfected Lien on any portion of
the Collateral (with a fair market value in excess of $50.0 million) intended to be covered thereby (to the extent perfection by filing, registration, recordation or possession is required by the Indenture or the Security Documents), (b) any of
the Security Documents shall for whatever reason be terminated or cease to be in full force and effect (except for expiration in accordance with its terms or amendment, modification, waiver, termination or release in accordance with the terms of the
Indenture), or (c) the enforceability of the Liens created by the Security Documents shall be contested by the Company or any Guarantor. 

Section 6.02. Acceleration. (a) In the case of an Event of Default arising from a bankruptcy default, with respect to
the Company, all outstanding Notes will become due and payable immediately without further action or notice. If any other Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then
outstanding Notes may declare all the Notes to be due and payable immediately by notice in writing to the Company specifying the Event of Default. Upon a declaration of acceleration, such principal and interest will become immediately due and
payable. 
 (b) The Holders of a majority in principal amount of the outstanding Notes by written notice to the Company and to
the Trustee may waive all past defaults and rescind and annul a declaration of acceleration and its consequences if 

(1) all existing Events of Default, other than the nonpayment of the principal of, premium, if any, and interest on the
Notes that have become due solely by the declaration of acceleration, have been cured or waived, and 
 (2) the
rescission would not conflict with any judgment or decree of a court of competent jurisdiction. 
 Section 6.03. Other
Remedies. If an Event of Default occurs and is continuing, the Trustee may pursue, in its own name or as trustee of an express trust, any available remedy by proceeding at law or in equity to collect the payment of principal of and interest on
the Notes or to enforce the performance of 
  

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any provision of the Notes or the Indenture and may, to the extent permitted by the Intercreditor Agreement and the Collateral Trust Agreement, direct the Collateral Trustee to enforce upon the
Collateral. The Trustee may maintain a proceeding even if it does not possess any of the Notes or does not produce any of them in the proceeding. 

Section 6.04. Waiver of Past Defaults. Except as otherwise provided in Sections 6.02, 6.07 and 9.02, the Holders of a
majority in principal amount of the outstanding Notes may, by notice to the Trustee, waive an existing Default and its consequences. Upon such waiver, the Default will cease to exist, and any Event of Default arising therefrom will be deemed to have
been cured, but no such waiver will extend to any subsequent or other Default or impair any right consequent thereon. 

Section 6.05. Control by Majority. The Holders of a majority in principal amount of the then outstanding Notes will have the
right to direct the time, method and place of conducting any proceeding for exercising any remedy available to the Trustee or exercising any trust or power conferred on the Trustee, including any decision by the Trustee as the Applicable Authorized
Representative under the Collateral Trust Agreement or other decisions applicable under the Collateral Trust Agreement. However, the Trustee may refuse to follow any direction that conflicts with law or the Indenture, that may involve the Trustee in
personal liability, or that the Trustee determines in good faith may be unduly prejudicial to the rights of Holders not joining in the giving of such direction and may take any other action it deems proper that is not inconsistent with any such
direction received from Holders. 
 Section 6.06. Limitation on Suits. A Holder may not institute any proceeding,
judicial or otherwise, with respect to the Indenture or the Notes, or form the appointment of a recipient or a trustee, or pursue any remedy with respect to the Indenture or the Notes unless: 

(1) the Holder gives the Trustee written notice of a continuing Event of Default; 

(2) the Holders of at least 25% in aggregate principal amount of outstanding Notes make a written request to the Trustee
to institute a proceeding or pursue the remedy; 
 (3) such Holder or Holders offer the Trustee indemnity
satisfactory to the Trustee against any costs, liability or expense; 
 (4) the Trustee does not comply with the
request within 60 days after receipt of the request and the offer of indemnity; and 
  

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 (5) during such 60-day period, the Holders of a majority in aggregate
principal amount of the outstanding Notes do not give the Trustee a direction that is inconsistent with the request. 

Section 6.07. Rights of Holders to Receive Payment. Notwithstanding anything to the contrary, the right of any Holder of a
Note to receive payment of the principal of, premium, if any, or interest on its Note on or after the Stated Maturities thereof, or to bring suit for the enforcement of any such payment, on or after the due date expressed in the Notes, shall not be
impaired or affected without the consent of the Holder. 
 Section 6.08. Collection Suit by Trustee. If an Event of
Default in payment of principal or interest specified in clause (1) or (2) of Section 6.01 occurs and is continuing, the Trustee may recover judgment in its own name and as trustee of an express trust for the whole amount of principal
and accrued interest remaining unpaid, together with interest on overdue principal and, to the extent lawful, overdue installments of interest, in each case at the rate specified in the Notes, and such further amount as is sufficient to cover the
costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel and any other amounts due the Trustee hereunder. 

Section 6.09. Trustee May File Proofs of Claim. The Trustee may file proofs of claim and other papers or documents as may be
necessary or advisable in order to have the claims of the Trustee (including any claim for the compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee hereunder) and the
Holders allowed in any judicial proceedings relating to the Company or any Guarantor or their respective creditors or property, and is entitled and empowered to collect, receive and distribute any money, securities or other property payable or
deliverable upon conversion or exchange of the Notes or upon any such claims. Any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Holder to make
such payments to the Trustee and, if the Trustee consents to the making of such payments directly to the Holders, to pay to the Trustee any amount due to it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its
agent and counsel, and any other amounts due the Trustee hereunder. Nothing in the Indenture will be deemed to empower the Trustee to authorize or consent to, or accept or adopt on behalf of any Holder, any plan of reorganization, arrangement,
adjustment or composition affecting the Notes or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding. 

 

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 Section 6.10. Priorities. Subject to the terms of the Intercreditor Agreement,
if the Trustee collects any money pursuant to this Article, including proceeds of any exercise of remedies upon the Collateral, it shall pay out the money in the following order: 

First: to the Trustee for all amounts due hereunder; 

Second: to Holders for amounts then due and unpaid for principal of and interest on the Notes, ratably, without preference
or priority of any kind, according to the amounts due and payable on the Notes for principal and interest; and 

Third: to the Company or as a court of competent jurisdiction may direct. 

The Trustee, upon written notice to the Company, may fix a record date and payment date for any payment to Holders pursuant to this
Section. 
 Section 6.11. Restoration of Rights and Remedies. If the Trustee or any Holder has instituted a
proceeding to enforce any right or remedy under the Indenture and the proceeding has been discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to the Holder, then, subject to any determination in the
proceeding, the Company, any Guarantors, the Trustee and the Holders will be restored severally and respectively to their former positions hereunder and thereafter all rights and remedies of the Company, any Guarantors, the Trustee and the Holders
will continue as though no such proceeding had been instituted. 
 Section 6.12. Undertaking for Costs. In any suit
for the enforcement of any right or remedy under the Indenture or in any suit against the Trustee for any action taken or omitted by it as Trustee, a court may require any party litigant in such suit (other than the Trustee) to file an undertaking
to pay the costs of the suit, and the court may assess reasonable costs, including reasonable attorneys fees, against any party litigant (other than the Trustee) in the suit having due regard to the merits and good faith of the claims or defenses
made by the party litigant. This Section does not apply to a suit by a Holder to enforce payment of principal of or interest on any Note on the respective due dates, or a suit by Holders of more than 10% in principal amount of the outstanding Notes.

 Section 6.13. Rights and Remedies Cumulative. No right or remedy conferred or reserved to the Trustee or to the
Holders under this Indenture is intended to be exclusive of any other right or remedy, and all such rights and remedies are, to the extent permitted by law, cumulative and in addition to every other right and remedy hereunder or now or hereafter
existing at law or in equity or otherwise. The assertion or exercise of any right or remedy hereunder, or otherwise, will not prevent the concurrent assertion or exercise of any other right or remedy. 

 

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 Section 6.14. Delay or Omission Not Waiver. No delay or omission of the Trustee
or of any Holder to exercise any right or remedy accruing upon any Event of Default will impair any such right or remedy or constitute a waiver of any such Event of Default or an acquiescence therein. Every right and remedy given by this Article or
by law to the Trustee or to the Holders may be exercised from time to time, and as often as may be deemed expedient, by the Trustee or by the Holders, as the case may be. 

Section 6.15. Waiver of Stay, Extension or Usury Laws. The Company and each Guarantor covenants, to the extent that it may
lawfully do so, that it will not at any time insist upon, or plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay or extension law or any usury law or other law that would prohibit or forgive the Company or the
Guarantor from paying all or any portion of the principal of, or interest on the Notes as contemplated herein, wherever enacted, now or at any time hereafter in force, or that may affect the covenants or the performance of the Indenture. The Company
and each Guarantor hereby expressly waives, to the extent that it may lawfully do so, all benefit or advantage of any such law and covenants that it will not hinder, delay or impede the execution of any power herein granted to the Trustee, but will
suffer and permit the execution of every such power as though no such law had been enacted. 
 ARTICLE 7 

THE TRUSTEE 

Section 7.01. General. (a) The duties and responsibilities of the Trustee are as provided by the provisions of the Trust
Indenture Act made applicable to this Indenture and as set forth herein. Whether or not expressly so provided, every provision of the Indenture relating to the conduct or affecting the liability of or affording protection to the Trustee is subject
to this Article. 
 (b) Except during the continuance of an Event of Default, the Trustee need perform only those duties that
are specifically set forth in the Indenture and no others, and no implied covenants or obligations will be read into the Indenture against the Trustee. In case an Event of Default has occurred and is continuing, and is actually known to the Trustee,
the Trustee shall exercise those rights and powers vested in it by the Indenture, and use the same degree of care and skill in their exercise, as a prudent person would exercise or use under the circumstances in the conduct of such person’s own
affairs. 
 (c) No provision of the Indenture shall be construed to relieve the Trustee from liability for its own negligent
action, its own negligent failure to act or its own bad faith or willful misconduct. 
  

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 Section 7.02. Certain Rights of Trustee. Subject to Trust Indenture Act Sections
315(a) through (d): 
 (1) In the absence of bad faith on its part, the Trustee may rely, and will be protected
in acting or refraining from acting, upon any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document believed by
it to be genuine and to have been signed or presented by the proper Person. The Trustee need not investigate any fact or matter stated in the document, but, in the case of any document which is specifically required to be furnished to the Trustee
pursuant to any provision hereof, the Trustee shall examine the document to determine whether it conforms to the requirements of the Indenture (but need not confirm or investigate the accuracy of mathematical calculations or other facts stated
therein). The Trustee, in its discretion, may make further inquiry or investigation into such facts or matters as it sees fit. 

(2) Before the Trustee acts or refrains from acting, it may require an Officer’s Certificate or an Opinion of Counsel
conforming to Section 12.05 and the Trustee will not be liable for any action it takes or omits to take in good faith in reliance on the certificate or opinion. 

(3) The Trustee may act through its attorneys and agents and will not be responsible for the misconduct or negligence of
any agent (other than an agent who is an employee of the Trustee) appointed with due care. 
 (4) The Trustee
will be under no obligation to exercise any of the rights or powers vested in it by the Indenture at the request or direction of any of the Holders, unless such Holders have offered to the Trustee reasonable security or indemnity satisfactory to the
Trustee against the costs, expenses and liabilities that might be incurred by it in compliance with such request or direction. 

(5) The Trustee will not be liable for any action it takes or omits to take in good faith that it believes to be
authorized or within its rights or powers or for any action it takes or omits to take in accordance with the direction of the Holders in accordance with Section 6.05 relating to the time, method and place of conducting any proceeding for any
remedy available to the Trustee, or exercising any trust or power conferred upon the Trustee, under the Indenture. 

(6) The Trustee may consult with counsel, and the written advice of such counsel or any Opinion of Counsel will be full
and complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon. 
  

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 (7) No provision of the Indenture will require the Trustee to expend or risk
its own funds or otherwise incur any financial liability in the performance of its duties hereunder, or in the exercise of its rights or powers, unless it receives indemnity satisfactory to it against any loss, liability or expense. 

Section 7.03. Individual Rights of Trustee. The Trustee, in its individual or any other capacity, may become the owner or
pledgee of Notes and may otherwise deal with the Company or its Affiliates with the same rights it would have if it were not the Trustee. Any Agent may do the same with like rights. However, the Trustee is subject to Trust Indenture Act Sections
310(b) and 311. For purposes of Trust Indenture Act Section 311(b)(4) and (6): 
 (a) “cash
transaction” means any transaction in which full payment for goods or securities sold is made within seven days after delivery of the goods or securities in currency or in checks or other orders drawn upon banks or bankers and payable upon
demand; and 
 (b) “self-liquidating paper” means any draft, bill of exchange, acceptance or
obligation which is made, drawn, negotiated or incurred for the purpose of financing the purchase, processing, manufacturing, shipment, storage or sale of goods, wares or merchandise and which is secured by documents evidencing title to, possession
of, or a lien upon, the goods, wares or merchandise or the receivables or proceeds arising from the sale of the goods, wares or merchandise previously constituting the security, provided the security is received by the Trustee simultaneously with
the creation of the creditor relationship arising from the making, drawing, negotiating or incurring of the draft, bill of exchange, acceptance or obligation. 

Section 7.04. Trustee’s Disclaimer. The Trustee (i) makes no representation as to the validity or adequacy of the
Indenture, the Security Documents or the Notes, (ii) is not accountable for the Company’s use or application of the proceeds from the Notes and (iii) is not responsible for any statement in the Notes other than its certificate of
authentication. 
 Section 7.05. Notice of Default. If any Default occurs and is continuing and is known to the
Trustee, the Trustee will send notice of the Default to each Holder within 90 days after the Trustee’s receipt of notice of its occurrence, unless the Default has been cured; provided that, except in the case of a default in the payment
of the principal of or interest on any Note, the Trustee may withhold the notice if and so long as the board of directors, the executive committee or a trust committee of directors of the Trustee in good faith determines that withholding the notice
is in the interest of the Holders. Notice to Holders under this Section will be given in the manner and to the extent provided in Trust Indenture Act Section 313(c). 
  

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 Section 7.06. Reports by Trustee to Holders. Within 60 days after each
May 15, beginning with May 15, 2011, the Trustee will mail to each Holder, as provided in Trust Indenture Act Section 313(c), a brief report dated as of such May 15, if required by Trust Indenture Act Section 313(a), and
file such reports with each stock exchange upon which its Notes are listed and with the Commission as required by Trust Indenture Act Section 313(d). 

Section 7.07. Compensation And Indemnity. (a) The Company will pay the Trustee compensation as agreed upon in writing
for its services. The compensation of the Trustee is not limited by any law on compensation of a Trustee of an express trust. The Company will reimburse the Trustee upon request for all reasonable out-of-pocket expenses, disbursements and advances
incurred or made by the Trustee, including the reasonable compensation and expenses of the Trustee’s agents and counsel. When the Trustee incurs expenses or renders services after a “bankruptcy default” has occurred, the expenses and
compensation for the services (including the fees and expenses of its agents and counsel) are intended, to the extent permitted by applicable law, to constitute expenses of administration under Title 11, U.S. Code, or any similar federal or state
law for the relief of debtors. 
 (b) The Company will indemnify the Trustee for, and hold it harmless against, any loss or
liability or expense incurred by it without negligence, bad faith or willful misconduct on its part arising out of or in connection with the acceptance or administration of the Indenture and its duties under the Indenture and the Notes, including
the costs and expenses of defending itself against any claim or liability and of complying with any process served upon it or any of its officers in connection with the exercise or performance of any of its powers or duties under the Indenture and
the Notes. The Trustee shall promptly notify the Company of any claim asserted against the Trustee or any of its agents for which it may seek indemnity. The Company shall defend the claim and the Trustee shall cooperate in the defense. The Trustee
and its agents subject to the claim may have separate counsel, and the Company shall pay the reasonable fees and expenses of such counsel if the Trustee concludes, upon advice of counsel, that there exists a conflict of interest between the Company
and the Trustee and its agents subject to the claim in connection with such defense. The Company need not pay for any settlement made without its written consent. The Company need not reimburse any expense or indemnify against any loss or liability
to the extent incurred by the Trustee through the Trustee’s negligence, bad faith or willful misconduct. 
 (c) To secure
the Company’s payment obligations in this Section, the Trustee will have a lien prior to the Notes on all money or property held or collected by the Trustee, in its capacity as Trustee, except money or property held in trust to pay principal
of, and interest on particular Notes. Such lien will survive the satisfaction and discharge of this Indenture. 
  

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 (d) The obligations of the Company under this Section 7.07 will survive the
satisfaction and discharge of this Indenture or the resignation or removal of the Trustee. 
 Section 7.08. Replacement
of Trustee. (a) (1) The Trustee may resign at any time by providing 30 days prior written notice to the Company. 

(2) The Holders of a majority in principal amount of the outstanding Notes may remove the Trustee by written notice to the
Trustee. 
 (3) If the Trustee is no longer eligible under Section 7.10 or in the circumstances described in
Trust Indenture Act Section 310(b), any Holder that satisfies the requirements of Trust Indenture Act Section 310(b) may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor
Trustee. 
 (4) The Company may remove the Trustee if: (i) the Trustee is no longer eligible under
Section 7.10; (ii) the Trustee is adjudged a bankrupt or an insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee becomes incapable of acting. 

A resignation or removal of the Trustee and appointment of a successor Trustee will become effective only upon the successor Trustee’s acceptance of
appointment as provided in this Section. 
 (b) If the Trustee has been removed by the Holders, Holders of a majority in
principal amount of the Notes may appoint a successor Trustee with the consent of the Company. Otherwise, if the Trustee resigns or is removed, or if a vacancy exists in the office of Trustee for any reason, the Company will promptly appoint a
successor Trustee. If the successor Trustee does not deliver its written acceptance within 30 days after the retiring Trustee resigns or is removed, the retiring Trustee (at the Company’s expense), the Company or the Holders of a majority in
principal amount of the outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. 

(c) Upon delivery by the successor Trustee of a written acceptance of its appointment to the retiring Trustee and to the Company,
(i) the retiring Trustee will transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.07, (ii) the resignation or removal of the retiring Trustee will become effective, and
(iii) the successor Trustee will have all the 
  

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rights, powers and duties of the Trustee under the Indenture. Upon request of any successor Trustee, the Company will execute any and all instruments for fully and vesting in and confirming to
the successor Trustee all such rights, powers and trusts. The successor Trustee will give notice of any resignation and any removal of the Trustee and each appointment of a successor Trustee to all Holders, and include in the notice the name of the
successor Trustee and the address of its Corporate Trust Office. 
 (d) Notwithstanding replacement of the Trustee pursuant to
this Section, the Company’s obligations under Section 7.07 will continue for the benefit of the retiring Trustee. 

(e) The Trustee agrees to give the notices provided for in, and otherwise comply with, Trust Indenture Act Section 310(b).

 Section 7.09. Successor Trustee by Merger. If the Trustee consolidates with, merges or converts into, or
transfers all or substantially all of its corporate trust business to, another corporation or national banking association, the resulting, surviving or transferee corporation or national banking association without any further act will be the
successor Trustee with the same effect as if the successor Trustee had been named as the Trustee in the Indenture. 

Section 7.10. Eligibility. The Indenture must always have a Trustee that satisfies the requirements of Trust Indenture Act
Section 310(a) and has a combined capital and surplus of at least $25,000,000 as set forth in its most recent published annual report of condition. 

Section 7.11. Money Held in Trust. The Trustee will not be liable for interest on any money received by it except as it may
agree with the Company. Money held in trust by the Trustee need not be segregated from other funds except to the extent required by law and except for money held in trust under Article 8. 

ARTICLE 8 

LEGAL DEFEASANCE AND COVENANT DEFEASANCE;
SATISFACTION AND DISCHARGE 
 Section 8.01. Option to Effect Legal
Defeasance or Covenant Defeasance. The Company may, at any time, elect to have either Section 8.02 or Section 8.03 be applied to all outstanding Notes upon compliance with the conditions set forth below in this Article 8. 

 

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 Section 8.02. Legal Defeasance and Discharge. Upon the Company’s exercise
under Section 8.01 of the option applicable to this Section 8.02, the Company shall, subject to the satisfaction of the conditions set forth in Section 8.04, be deemed to have been discharged from its obligations with respect to all
outstanding Notes and the Security Documents to which it is a party and all obligations of the Guarantors shall be deemed to have been discharged with respect to their obligations under the Note Guarantees and the Security Documents to which they
are a party, and the Liens shall be released, on the date the conditions set forth below are satisfied (hereinafter, “Legal Defeasance”). For this purpose, Legal Defeasance means that the Company shall be deemed to have paid and
discharged the entire Indebtedness represented by the outstanding Notes, which shall thereafter be deemed to be “outstanding” only for the purposes of Section 8.08 and the other Sections of this Indenture referred to in (a) and
(b) below, and to have satisfied all its other obligations under such Notes and the Indenture (and the Trustee, on demand of and at the expense of the Company, shall execute proper instruments acknowledging the same), except for the following
clauses, which shall survive until otherwise terminated or discharged hereunder: (a) the rights of Holders of outstanding Notes to receive solely from the trust fund described in Section 8.04 hereof, and as more fully set forth in such
Section 8.04, payments in respect of the principal of, premium, if any, and interest on such Notes when such payments are due, (b) the Company’s obligations with respect to such Notes under Article 2, Section 4.02 and
Section 8.08, (c) the rights, powers, trusts, duties and immunities of the Trustee hereunder and the Company’s and Guarantors’ obligations in connection therewith and (d) this Article 8. Subject to compliance with this
Article 8, the Company may exercise its option under this Section 8.02 notwithstanding the prior exercise of its option under Section 8.03. 

Section 8.03. Covenant Defeasance. Upon the Company’s exercise under Section 8.01 hereof of the option applicable
to this Section 8.03, the Company and each of the Guarantors shall, subject to the satisfaction of the conditions set forth in Section 8.04, be released from their respective obligations under the Security Documents to which they are a
party and the covenants set forth in Sections 4.04 through 4.16, 4.18, 4.19 and clauses (B) and (C) of 5.01(a)(2), inclusive with respect to the outstanding Notes on and after the date the conditions set forth in Section 8.04 are
satisfied, and the Liens shall be released (hereinafter, “Covenant Defeasance”), and the Notes shall thereafter be deemed not “outstanding” for the purposes of any direction, waiver, consent or declaration or act of
Holders (and the consequences of any thereof) in connection with such covenants, but shall continue to be deemed “outstanding” for all other purposes hereunder. For this purpose, Covenant Defeasance means that, with respect to the
outstanding Notes, the Company may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such covenant, whether directly or indirectly, by reason of any reference elsewhere herein to any
such covenant or by reason of any reference in any such covenant to any other provision herein or in any other document and such omission to comply shall not constitute a Default or an Event of Default under Section 6.01, but, except as
specified above, the remainder of this Indenture and such Notes shall be 
  

 90 

 
unaffected thereby. In addition, upon the Company’s exercise under Section 8.01 of the option applicable to this Section 8.03, subject to the satisfaction of the conditions set
forth in Section 8.04, clauses (3) through (7) and clause (10) of Section 6.01 hereof shall cease to operate and not constitute Events of Default. 

Section 8.04. Conditions to Legal Defeasance or Covenant Defeasance. The following shall be the conditions to the application
of either Section 8.02 or 8.03 hereof to the outstanding Notes: 
 In order to exercise either Legal Defeasance or Covenant
Defeasance: 
 (a) the Company shall irrevocably deposit with the Trustee, in trust, for the benefit of the Holders of the
Notes, cash in U.S. dollars, non-callable Government Securities, or a combination thereof, in such amounts as shall be sufficient, in the opinion of a nationally recognized firm of independent public accountants (or, if two or more nationally
recognized firms of independent public accountants decline to issue such opinion as a matter of policy, in the opinion of the Company’s chief financial officer), to pay the principal of, premium, if any, and interest on the outstanding Notes on
the Stated Maturity or on the applicable redemption date, as the case may be, and the Company shall specify whether the Notes are being defeased to maturity or to a particular redemption date; 

(b) in the case of an election under Section 8.02, the Company shall have delivered to the Trustee an Opinion of Counsel reasonably
acceptable to the Trustee confirming that (i) the Company has received from, or there has been published by, the Internal Revenue Service a ruling or (ii) since the Issue Date, there has been a change in the applicable U.S. federal income
tax law, in either case to the effect that, and based thereon such Opinion of Counsel shall confirm that, the Holders of the outstanding Notes shall not recognize income, gain or loss for U.S. federal income tax purposes as a result of such Legal
Defeasance and shall be subject to U.S. federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such Legal Defeasance had not occurred; 

(c) in the case of an election under Section 8.03, the Company shall have delivered to the Trustee an Opinion of Counsel reasonably
acceptable to the Trustee confirming that the Holders of the outstanding Notes shall not recognize income, gain or loss for U.S. federal income tax purposes as a result of such Covenant Defeasance and shall be subject to U.S. federal income tax on
the same amounts, in the same manner and at the same times as would have been the case if such Covenant Defeasance had not occurred; 

(d) no Default or Event of Default shall have occurred and be continuing on the date of such deposit other than a Default resulting from
the borrowing of funds to be applied to such deposit; 
  

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 (e) such Legal Defeasance or Covenant Defeasance shall not result in a breach or violation
of, or constitute a default under any material agreement or instrument (other than the Indenture) to which the Company or any of its Subsidiaries is a party or by which the Company or any of its Subsidiaries is bound; 

(f) the Company shall have delivered to the Trustee an Officer’s Certificate stating that the deposit was not made by the Company
with the intent of preferring the Holders of Notes over any other creditors of the Company with the intent of defeating, hindering, delaying or defrauding any other creditors of the Company or others; 

(g) if the Notes are to be redeemed prior to their Stated Maturity, the Company shall have delivered to the Trustee irrevocable
instructions to redeem all of the Notes on the specified redemption date; and 
 (h) the Company shall have delivered to the
Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that all conditions precedent, including, without limitation, the conditions set forth in this Section 8.04, provided for or relating to the Legal Defeasance or the
Covenant Defeasance have been complied with. 
 Section 8.05. Satisfaction and Discharge of Indenture. The Indenture
shall be discharged and shall cease to be of further effect as to all Notes issued hereunder when: 
 (i) either: 

(A) all Notes that have been authenticated (except lost, stolen or destroyed Notes that have been replaced or paid and
Notes for whose payment money has theretofore been deposited in trust and thereafter repaid to the Company) have been delivered to the Trustee for cancellation; or 

(B) all Notes that have not been delivered to the Trustee for cancellation have become due and payable by reason of the
making of a notice of redemption or otherwise or will become due and payable within one year and the Company or any Guarantor has irrevocably deposited or caused to be deposited with the Trustee as trust funds in trust solely for the benefit of the
Holders, cash in U.S. dollars, non-callable Government Securities, or a combination thereof, in such amounts as will be sufficient without consideration of any reinvestment of interest, to pay and discharge the entire indebtedness on the Notes not
delivered to the Trustee for cancellation for principal, premium, if any, and accrued interest to the date of maturity or redemption; 
  

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 (ii) no Default or Event of Default shall have occurred and be continuing on the date of
such deposit or shall occur as a result of such deposit (other than from the borrowing of funds to be applied to such deposit) and such deposit will not result in a breach or violation of, or constitute a default under, any other instrument (other
than the Indenture) to which the Company or any Guarantor is a party or by which the Company or any Guarantor is bound; 
 (iii)
the Company or any Guarantor has paid or caused to be paid all sums payable by it under this Indenture; and 
 (iv) the Company
has delivered irrevocable instructions to the Trustee under this Indenture to apply the deposited money toward the payment of the Notes at maturity or the redemption date, as the case may be. 

In addition, the Company shall deliver an Officer’s Certificate and an Opinion of Counsel to the Trustee stating that all conditions
precedent to satisfaction and discharge have been satisfied. 
 Section 8.06. Survival of Certain Obligations.
Notwithstanding Sections 8.02, 8.03 and 8.05, any obligations of the Company and the Guarantors in Sections 2.03 through 2.11, 6.07, Article 7, and 8.07 through 8.11 shall survive until the Notes have been paid in full. Thereafter, any
obligations of the Company and the Guarantors in Article 7 and Sections 8.07, 8.08 and 8.10 shall survive such satisfaction and discharge. Nothing contained in this Article 8 shall abrogate any of the obligations or duties of the Trustee under this
Indenture. 
 Section 8.07. Acknowledgment of Discharge by Trustee. After the conditions of Section 8.02, 8.03
or 8.05 have been satisfied, the Trustee upon written request shall acknowledge in writing the discharge of all of the Company’s obligations under this Indenture except for those surviving obligations specified in this Article 8. 

Section 8.08. Deposited Money and Cash Equivalents to Be Held in Trust; Other Miscellaneous Provisions. Subject to
Section 8.09, all money and non-callable Cash Equivalents (including the proceeds thereof) deposited with the Trustee (or other qualifying trustee, collectively for purposes of this Section 8.08, the “Trustee”) pursuant to
Section 8.04 in respect of the outstanding Notes shall be held in trust and applied by the Trustee, in accordance with the provisions of such Notes and this Indenture, to the payment, either directly or through any Paying Agent (including the
Company acting as Paying Agent) as the Trustee may determine, to the Holders of such Notes of all sums due and to become due thereon in respect of principal, premium, if any, and interest, but such money need not be segregated from other funds
except to the extent required by law. 
  

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 The Company shall pay and indemnify the Trustee against any tax, fee or other charge imposed
on or assessed against the cash or non-callable Cash Equivalents deposited pursuant to Section 8.04(a) or the principal and interest received in respect thereof other than any such tax, fee or other charge which by law is for the account of the
Holders of the outstanding Notes. 
 Anything in this Article 8 to the contrary notwithstanding, the Trustee shall deliver or
pay to the Company from time to time upon the request of the Company any money or non-callable Cash Equivalents held by it as provided in Section 8.04 which, in the opinion of a nationally recognized firm of independent public accountants
expressed in a written certification thereof delivered to the Trustee (which may be the opinion delivered under Section 8.04 hereof), are in excess of the amount thereof that would then be required to be deposited to effect an equivalent Legal
Defeasance or Covenant Defeasance. 
 Section 8.09. Repayment to Company. Subject to applicable abandoned property
law, any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal of, premium, if any, and interest on any Note and remaining unclaimed for two years after such principal, and
premium, if any, and interest has become due and payable shall be paid to the Company on its request or (if then held by the Company) shall be discharged from such trust; and the Holder of such Note shall thereafter, as an unsecured creditor, look
only to the Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease; provided, however, that the
Trustee or such Paying Agent, before being required to make any such repayment, may at the expense of the Company cause to be published once, in The New York Times and The Wall Street Journal (national edition), notice that such money remains
unclaimed and that, after a date specified therein, which shall not be less than 30 days from the date of such notification or publication, any unclaimed balance of such money then remaining shall be repaid to the Company. 

Section 8.10. Indemnity for Government Securities. The Company shall pay and shall indemnify the Trustee against any tax, fee
or other charge imposed on or assessed against deposited U.S. Government Obligations or the principal and interest, if any, received on such U.S. Government Obligations. 

Section 8.11. Reinstatement. If the Trustee or Paying Agent is unable to apply any United States dollars or non-callable
Government Securities in accordance with Section 8.02, 8.03 or 8.05, as the case may be, by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, then the
Company’s obligations under this Indenture and the Notes shall be revived and reinstated as though no deposit had occurred pursuant to Section 8.02, 8.03 or 8.05 hereof until such time as the Trustee or Paying Agent is permitted to apply
all such money in accordance with Section 8.02, 8.03 or 8.05, as the case may be; provided, however, that, if the Company makes any payment of principal of, premium, if any, or interest on any Note following the reinstatement of
its obligations, the Company shall be subrogated to the rights of the Holders of such Notes to receive such payment from the money held by the Trustee or Paying Agent. 
  

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 ARTICLE 9 

AMENDMENT, SUPPLEMENT AND WAIVERS 

Section 9.01. Amendments Without Consent of Holders. Notwithstanding Section 9.02, without the consent of any Holder of
Notes, the Company, the Guarantors and the Trustee may amend or supplement this Indenture, or the Notes or the Note Guarantees, and the Trustee and the Collateral Trustee will be authorized, on behalf of the Holders, to amend or supplement the
Security Documents (to the extent applicable): 
 (a) to cure any ambiguity, defect or inconsistency; 

(b) to provide for uncertificated Notes in addition to or in place of Certificated Notes; 

(c) to provide for the assumption of the Company’s or any Guarantor’s obligations to Holders of Notes in the case of a merger or
consolidation or sale of all or substantially all of the assets of the Company or of such Guarantor; 
 (d) to make any change
that would provide any additional rights or benefits to the Holders of Notes or that does not adversely affect the legal rights under this Indenture of any such Holder; 

(e) to comply with requirements of the Commission in order to effect or maintain the qualification of this Indenture under the Trust
Indenture Act; 
 (f) to comply with the requirements of Section 4.10; 

(g) to evidence and provide for the acceptance of appointment by a successor Trustee; 

(h) to provide for the issuance of Additional Notes in accordance with this Indenture; or 

(i) to conform any provision to the “Description of Notes” in the Offering Circular. 

In addition, the Company, the Collateral Trustee and the Trustee may amend the Security Documents to permit the accession of or
succession of any parties to the Intercreditor Agreement or the Collateral Trust Agreement (including in respect of any incurrence of Pari-Passu Obligations or in connection with an amendment, renewal, extension, substitution, refinancing,
restructuring, replacement, supplementing or other modification from time to time of the Revolving Credit Agreement, the Notes, the Term Loan Obligations or any other Pari-Passu Obligations). 

 

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 Section 9.02. Amendments With Consent of Holders. (a) Except as provided in
Section 9.01 or below in this Section 9.02, the Indenture, the Notes or the Note Guarantees may be amended or supplemented with the consent of the Holders of at least a majority in aggregate principal amount of the Notes then outstanding
(including, without limitation, consents obtained in connection with a purchase of, or tender offer or exchange offer for, Notes), and, subject to Sections 6.02, 6.04 and 6.07 hereof, any existing Default or Event of Default or compliance with any
provision of this Indenture or the Notes or the Note Guarantees may be waived with the consent of the Holders of a majority in aggregate principal amount of the then outstanding Notes (including, without limitation, consents obtained in connection
with a purchase of, tender offer or exchange offer for, Notes). In addition, the Trustee and the Collateral Trustee will be authorized to amend, supplement or waive any provision of the Security Documents with the consent of the Holders of a
majority in aggregate principal amount of the Notes then outstanding, subject to receipt of any consent required from the Authorized Representatives (as defined in the Collateral Trust Agreement) of other secured obligations. 

(b) It shall not be necessary for the consent of the Holders of Notes under this Section 9.02 to approve the particular form of any
proposed amendment or waiver, but it shall be sufficient if such consent approves the substance thereof. 
 (c) Without the
consent of each Holder affected, an amendment, supplement or waiver may not (with respect to any Notes held by a non-consenting Holder): 

(i) reduce the principal amount of Notes whose Holders must consent to an amendment, supplement or waiver; 

(ii) reduce the principal of or change the fixed maturity of any Note or alter the provisions, or waive any payment, with respect to the
redemption of the Notes; 
 (iii) reduce the rate of or change the time for payment of interest on any Note; 

(iv) waive a Default or Event of Default in the payment of principal of or premium, if any, or interest on the Notes (except a rescission
of acceleration of the Notes by the Holders of at least a majority in aggregate principal amount of the then outstanding Notes and a waiver of the payment default that resulted from such acceleration); 

 

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 (v) make any Note payable in money other than U.S. dollars; 

(vi) make any change in the provisions of this Indenture relating to waivers of past Defaults or the rights of Holders of Notes to receive
payments of principal of, or interest or premium, if any, on the Notes; 
 (vii) release any Guarantor from any of its
obligations under its Note Guarantee or this Indenture, except in accordance with the terms of this Indenture; 
 (viii) impair
the right to institute suit for the enforcement of any payment on or with respect to the Notes or the Note Guarantees; 
 (ix)
amend, change or modify the obligation of the Company to make and consummate an Asset Sale Offer with respect to any Asset Sale in accordance with Section 4.12 after the obligation to make such an Asset Sale Offer has arisen, or the obligation
of the Company to make and consummate a Change of Control Offer in the event of a Change of Control in accordance with Section 4.11 after such Change of Control has occurred, including, in each case, amending, changing or modifying any
definition relating thereto; 
 (x) except as otherwise permitted by Article 5, consent to the assignment or transfer by the
Company of any of its rights or obligations under this Indenture; or 
 (xi) make any change in Section 6.02, 6.04 or 6.07
or in the foregoing amendment and waiver provisions. 
 In addition, no amendment, supplement or waiver may release all or
substantially all of the Collateral without the consent of Holders of at least 75% in aggregate principal amount of the Notes. 

(d) An amendment, supplement or waiver under this Section will become effective on receipt by the Trustee of written consents from the
Holders of the requisite percentage in principal amount of the outstanding Notes. After an amendment, supplement or waiver under Section becomes effective, the Company shall mail to the Holders of Notes affected thereby a notice briefly describing
the amendment, supplement or waiver. Any failure of the Company to mail such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such amended or supplemental indenture or waiver. 

 

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 Section 9.03. Compliance with Trust Indenture Act. If this Indenture is
qualified under the Trust Indenture Act, every amendment or supplement to this Indenture or the Notes shall be set forth in a amended or supplemental indenture that complies with the Trust Indenture Act as then in effect. 

Section 9.04. Revocation and Effect of Consents. Until an amendment, supplement or waiver becomes effective, a consent to it
by a Holder of a Note is a continuing consent by such Holder of a Note and every subsequent Holder of a Note or portion of a Note that evidences the same debt as the consenting Holder’s Note, even if notation of the consent is not made on any
Note. However, any such Holder of a Note or subsequent Holder of a Note may revoke the consent as to its Note if the Trustee receives written notice of revocation before the date the waiver, supplement or amendment becomes effective. An amendment,
supplement or waiver becomes effective in accordance with its terms and thereafter binds every Holder. 
 Section 9.05.
Notation on or Exchange of Notes. The Trustee may place an appropriate notation about an amendment, supplement or waiver on any Note thereafter authenticated. The Company in exchange for all Notes may issue and the Trustee shall, upon receipt of
a certificate of authentication, authenticate new Notes that reflect the amendment, supplement or waiver. 
 Failure to make the
appropriate notation or issue a new Note shall not affect the validity and effect of such amendment, supplement or waiver. 

Section 9.06. Trustee to Sign Amendments, Etc. The Trustee shall sign any amended or supplemental indenture or Note
authorized pursuant to this Article 9 if the amendment or supplement does not adversely affect the rights, duties, liabilities or immunities of the Trustee. In executing any amended or supplemental indenture, Note or any waiver, the Trustee shall be
entitled to receive and (subject to Section 7.01 hereof) shall be fully protected in relying upon, in addition to the documents required by Section 12.04, an Officer’s Certificate and an Opinion of Counsel stating that the execution
of such amended or supplemental indenture is authorized or permitted by this Indenture. The Trustee may, but shall not be obligated to, execute any such amendment, supplement or waiver which affects the Trustee’s rights, duties or immunities
under this Indenture or otherwise. In signing any amendment, supplement or waiver, the Trustee shall be entitled to receive an indemnity reasonably satisfactory to it. 
  

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 ARTICLE 10 

SECURITY ARRANGEMENTS 

Section 10.01. Collateral Trustee. (a) Wells Fargo Bank, National Association is appointed as Collateral Trustee for the
benefit of the Holders of the Notes and the holders of Term Loan Obligations and all other Pari-Passu Obligations, and shall initially act as Collateral Trustee under the Security Documents. The Trustee is hereby authorized to enter into the
Collateral Trust Agreement to evidence such appointment. 
 (b) Subject to the terms of the Intercreditor Agreement and the
Collateral Trust Agreement, the Collateral Trustee will hold (directly or through co-trustees or agents), and will be entitled to enforce on behalf of the Holders of Notes and the holders of Obligations under the Term Loan Agreement and all other
Pari-Passu Obligations, all Liens on the Collateral. 
 (c) All of the rights, protections, benefits, privileges, indemnities
and immunities granted to the Trustee hereunder shall inure to the benefit of the Collateral Trustee acting hereunder and under the Security Documents. 

(d) The Collateral Trustee may resign or may be removed in accordance with the provisions set forth in the Collateral Trust Agreement.

 (e) This Article 10 and the provisions of each Security Document are subject to the terms, conditions and benefits set forth
in the Collateral Trust Agreement. 
 Section 10.02. Security. (a) In order to secure the Obligations of the
Company and the Guarantors under this Indenture, the Notes and the Note Guarantees, the Company and each Guarantor will execute and deliver to the Collateral Trustee on the Issue Date, each Security Document to which it is or is to be a party that
is intended to be effective upon such date (forms of which are attached as Exhibits J, K and L hereto) which in each case will create the Liens intended to be created thereunder, with the priority set forth therein and in the Intercreditor
Agreement, on the Collateral. 
 (b) If (i) any Restricted Subsidiary becomes a Guarantor in accordance with
Section 4.14, (ii) the Company or any Guarantor acquires any property (other than Excluded Property or Immaterial Real Property Interests) that is not automatically subject to a perfected security interest under the Security Documents, or
(iii) any Excluded Property ceases to fit within the definition thereof, the Company or such Guarantor shall notify the Collateral Trustee in writing thereof and, in each case at the sole cost and expense of the Company or Guarantor and as soon
as reasonably practicable after such entity becomes a Guarantor, such property’s acquisition or it no longer being Excluded Property, as the case may be, execute and deliver to the Collateral Trustee such mortgages, security agreement
supplements and other documentation (in form and scope, and covering such Collateral on such terms, in each case consistent with the mortgages, security agreements and other security documents in effect on the Issue Date), and take such additional
actions (including any of the actions described in Section 4.18(b)), as are necessary to create and fully perfect (except to the extent perfection is not required thereunder) in favor of the secured parties under the Security Documents a valid
and enforceable security interest in (and in 
  

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the case of real property, mortgage lien on) such Collateral, which shall be free of any other Liens except for Permitted Liens (including, in the case of the Secondary Collateral, the
first-priority Lien of the holders of Revolving Credit Obligations). Any security interest provided pursuant to clause (i) or, with respect to real property only, clause (ii) of this Section 10.02(b) shall be accompanied by such
Opinions of Counsel to the Company as customarily given by counsel in the relevant jurisdiction, in form and substance customary for such jurisdiction and substantially consistent with that provided for in connection with the Security Documents
delivered on the date of the Indenture. In addition, the Company shall deliver an Officer’s Certificate to the Collateral Trustee certifying that the necessary measures have been taken to perfect the security interest in such property covered
by clauses (i) or (ii) above. 
 (c) The Company and the Guarantors shall comply with all covenants and agreements
contained in the Security Documents. 
 (d) Each Holder, by accepting a Note, agrees to all of the terms and provisions of the
Security Documents, as the same may be amended from time to time pursuant to the provisions of the Indenture and the Security Documents. 

(e) As among the Holders, the Collateral as now or hereafter constituted shall be held for the equal and ratable benefit of the Holders
without preference, priority or distinction of any thereof over any other by reason of differences in time of issuance, sale or otherwise, as security for the Obligations under this Indenture and the Notes. 

(f) To the extent applicable, the Company will be required to comply with Section 313(b) of the Trust Indenture Act, relating to
reports, and, unless the Notes are qualified under the Trust Indenture Act, the Company will not be required to comply with Section 314(d) of the Trust Indenture Act, relating to the release of property and to the substitution therefor of any
property to be pledged as Collateral for the Notes, except to the extent required by law. Notwithstanding anything to the contrary herein, the Company and the Guarantors will not be required to comply with all or any portion of Section 314(d)
of the Trust Indenture Act if they determine, in good faith based on advice of outside counsel, that under the terms of that section and/or any interpretation or guidance as to the meaning thereof of the SEC and its staff, including “no
action” letters or exemptive orders, all or any portion of Section 314(d) of the Trust Indenture Act is inapplicable to the released Collateral. 

Section 10.03. Asset Sales Proceeds Account. (a) The Company and the Guarantors shall deposit in a cash collateral
account (an “Asset Sales Proceeds Account”) to be held by the Collateral Trustee: 
 (1) cash
proceeds from any sale, lease, transfer or other disposition (or series of related sales, leases, transfers or other dispositions) of Primary Collateral having an aggregate fair market value of more than $20.0 million; 

 

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 (2) any cash proceeds in excess of $20.0 million of any Primary Collateral
taken by eminent domain, expropriation or other similar governmental taking; and 
 (3) cash proceeds in excess
of $20.0 million of insurance upon any part of the Primary Collateral. 
 Such Asset Sale Proceeds Account shall be under the
control of, and secured by a first-priority Lien in favor of, the Collateral Trustee for the benefit of the holders of the Notes, the Term Loan Obligations and other Pari-Passu Obligations. No other cash shall be deposited in such account, and such
account shall constitute a Term/Notes Priority Collateral Proceeds Account for purposes of the Intercreditor Agreement. 
 (b)
The proceeds of any condemnation or casualty event described in clauses (2) or (3) of Section 10.03(a) shall be deemed to be Net Proceeds of an Asset Sale. 

(c) Amounts held in the Asset Sales Proceeds Account may only be released to the Company or the applicable Guarantor for use as permitted
by clauses (2) or (3) of Section 4.12(b) or to fund an Asset Sale Offer. 
 (d) The Company and Guarantors will
be required to comply with the requirements of Section 10.06 before any Collateral held in the Asset Sales Proceeds Account may be released from the Lien of the Security Documents. 

Section 10.04. Authorization of Actions to be Taken. (a) The Collateral Trustee and the Trustee are authorized and
empowered to enter into the Security Documents and to receive on behalf of the Holders of the Notes, any funds collected or distributed under the Security Documents to which the Collateral Trustee or Trustee is a party and to make further
distributions of such funds to the Holders of Notes according to the provisions of this Indenture. 
 (b) Subject to the
Intercreditor Agreement, the Collateral Trust Agreement and Article 7, unless inconsistent with applicable law, (a) the Collateral Trustee is authorized and empowered to institute and maintain such suits and proceedings as it may deem
appropriate, or as it may be directed by the Applicable Authorized Representative or the secured parties, to protect or enforce the rights vested in it by the Collateral Trust Agreement, the Intercreditor Agreement and each Security Document and
(b) the Applicable Authorized Representative shall have the right, by an instrument in writing executed and delivered to the Collateral Trustee, to direct the time, method and place of conducting any such proceeding, or of exercising any trust
or power conferred on the Collateral Trustee, or for the appointment of a receiver, or for the taking of any action remedial action authorized by the Collateral Trust Agreement. 

 

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 Section 10.05. Determinations Relating to Collateral. Except for any consent,
approval or action by the Collateral Trustee in the ordinary course of the performance of the Collateral Trustee’s duties under the Indenture or the Security Documents, in the event (i) the Collateral Trustee shall receive any written
request from the Company, a Guarantor or the Trustee under any Security Document for consent or approval with respect to any matter or thing relating to any Collateral or the Company’s or such Guarantor’s obligations with respect thereto,
(ii) there shall be due to or from the Trustee or the Collateral Trustee under the provisions of any Security Document any material performance or the delivery of any material instrument or (iii) the Collateral Trustee shall become aware
of any nonperformance by the Company or a Guarantor of any covenant or any breach of any representation or warranty of the Company or such Guarantor set forth in any Security Document, then, in each such event, the Collateral Trustee shall be
entitled to hire experts, consultants, agents and attorneys to advise the Collateral Trustee on the manner in which the Collateral Trustee should respond to such request or render any requested performance or respond to such nonperformance or
breach. The Collateral Trustee shall be fully protected in the taking of any action recommended or approved by any such expert, consultant, agent or attorney or agreed to by the Holders of a majority in principal amount of the outstanding Notes.

 Section 10.06. Release of Liens. (a) The Liens on the Collateral securing the Notes will be released:

 (i) upon payment in full of principal, interest and all other premium on the Notes issued under the Indenture
or satisfaction and discharge (in accordance with Article 8) or defeasance (including pursuant to Section 8.03); 

(ii) upon release of a Note Guarantee (with respect to the Liens securing such Note Guarantee granted by such Guarantor);

 (iii) in connection with any disposition of Collateral to any Person other than Holdings, the Company or any
of its Restricted Subsidiaries that are Guarantors (but excluding any transaction subject to Article 5 or where the transferee will be an obligor on the Notes or a Note Guarantee) that is permitted by the Indenture (with respect to the Lien on such
Collateral); provided that Liens on no more than $100 million of Collateral may be released in connection with dispositions to Restricted Subsidiaries that are not Guarantors (with the value of the Lien released deemed to be the fair market
value of the related Collateral at the time of release); 
  

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 (iv) in whole or in part, with the consent of the Holders of the requisite
percentage of Notes in accordance with the provisions described under Section 9.02, including a release of all or substantially all of the Collateral if approved by Holders of at least 75% in the aggregate principal amount of the Notes (even if
the holders of any other Pari-Passu Obligations continue to be secured by the Collateral); 
 (v) in the case of
Secondary Collateral, if and to the extent required by the provisions of the Intercreditor Agreement; and 
 (vi)
with respect to assets that become Excluded Property. 
 Each of the releases described in clauses (i), (ii), (iii),
(v) and (vi) above shall be effected by the Collateral Trustee without the consent of the Noteholders or any action on the part of the Trustee. 

(b) Notwithstanding the foregoing, so long as no Default or Event of Default under the Indenture would result therefrom, the Company and
the Guarantors may, among other things, without any release or consent by the Trustee or the Collateral Trustee conduct ordinary course activities with respect to Collateral, including, without limitation, (i) selling or otherwise disposing of,
in any transaction or series of related transactions, any property subject to the Lien of the Security Documents which has become worn out, defective or obsolete or not used or useful in the business; (ii) abandoning, terminating, canceling,
releasing or making alterations in or substitutions of any leases or contracts subject to the Lien of the Indenture or any of the Security Documents; (iii) surrendering or modifying any franchise, license or permit subject to the Lien of the
Indenture or any of the Security Documents which it may own or under which it may be operating; altering, repairing, replacing, changing the location or position of and adding to its structures, machinery, systems, equipment, fixtures and
appurtenances; (iv) granting a license of any intellectual property; (v) selling, transferring or otherwise disposing of inventory in the ordinary course of business; (vi) selling, collecting, liquidating, factoring or otherwise
disposing of accounts receivable in the ordinary course of business; (vii) making cash payments (including for the scheduled repayment of Indebtedness) from cash that is at any time part of the Collateral in the ordinary course of business that
are not otherwise prohibited by the Indenture and the Security Documents; and (viii) abandoning any intellectual property which is no longer used or useful in the business of the Company. 

The fair value of Collateral released from Liens of this Indenture and the Security Documents pursuant to this subsection (b) shall
not be considered in determining whether the aggregate fair value of Collateral released from Liens of this Indenture and the Security Documents in any calendar year exceeds the 10% threshold specified in Section 314(d)(1) of the Trust
Indenture Act. 
  

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 (c) Upon compliance by the Company or any Guarantor, as the case may be, with the conditions
precedent required by the Indenture, the Trustee or the Collateral Trustee (upon written notice of such compliance) shall promptly cause to be released and re-conveyed to the Company or the Guarantor, as the case may be, the released Collateral. In
addition, at the written request of the Company or the applicable Guarantor, as the case may be: 
 (i) if any
part of the Collateral is subject to any Permitted Lien (other than a Lien referred to in clause (1) of the definition thereof) that is senior to the Liens securing the Collateral as a matter of law, the Collateral Trustee will be authorized to
execute any document evidencing such subordination; and 
 (ii) if any part of the Collateral is secured by a
Lien of the type described in clause (20) of the definition of Permitted Liens securing Indebtedness incurred pursuant to clause (b)(4) of Permitted Debt, and the terms of such Indebtedness (or of the Lien securing such Indebtedness) prohibit
the existence of a junior Lien on the applicable property or require any Lien to be subordinated to the Lien securing such Indebtedness, the Collateral Trustee will be authorized to release or subordinate the Lien on such Collateral and execute any
document evidencing such release or subordination; provided, however, that immediately upon the ineffectiveness, lapse or termination of any such restriction, the Company or the applicable Guarantor, as the case may be, will take all
necessary actions in order to secure the Collateral subject to such Permitted Lien in the same manner upon which it was secured prior to the imposition of the Permitted Lien. 

(d) Upon delivery to the Collateral Trustee of an Officer’s Certificate requesting execution of an instrument confirming the release
or subordination of the Liens pursuant to Section 10.06(a) or (c), as applicable, accompanied by: 
 (1) an
Opinion of Counsel confirming such release or subordination is permitted by Section 10.06(a) or (c), as applicable; 

(2) all instruments requested by the Company to effectuate or confirm such release or subordination; and 

(3) such other certificates and documents as the Collateral Trustee may reasonably request to confirm the matters set
forth in Section 10.06(a) or (c), as applicable, 
 the Collateral Trustee is hereby authorized to, and shall, if such instruments and
confirmation are reasonably satisfactory to the Collateral Trustee, promptly execute and deliver such instruments. 
  

 104 

 (e) All instruments effectuating or confirming any release or subordination of any Liens
will have the effect solely of releasing or subordinating such Liens as to the Collateral described therein, on customary terms and without any recourse, representation, warranty or liability whatsoever. 

(f) The Company will bear and pay all costs and expenses associated with any release or subordination of Liens pursuant to this
Section 10.06, including all reasonable fees and disbursements of any attorneys or representatives acting for the Trustee or for the Collateral Trustee. 

(g) Any release of Collateral in accordance with the provisions of this Indenture and the Security Documents will not be deemed to impair
the security under this Indenture, and any engineer or appraiser may rely on this Section 10.06(g) in delivering a certificate requesting release so long as all other provisions of this Indenture and the Trust Indenture Act with respect to such
release have been complied with. 
 Section 10.07. Agreement for the Benefit of Holders of First Priority Liens on
Secondary Collateral. The Collateral Trustee, the Trustee and each Holder of Notes, by accepting a Note agrees, that: 
 (a)
The Liens on the Secondary Collateral are, to the extent and in the manner provided in the Intercreditor Agreement, subject to and subordinate in ranking to all present and future Liens securing the Revolving Credit Obligations thereon; and the
Intercreditor Agreement will be enforceable by the holders of such Revolving Credit Obligations, for the benefit of such holders, until the satisfaction pursuant to the terms thereof of all such Revolving Credit Obligations outstanding at the time
of such release. 
 (b) As among the Revolver Agent, the Collateral Trustee, the Holders of the Notes and the holders of the
Revolving Credit Obligations, the holders of the Revolving Credit Obligations and the Revolver Agent will have the sole ability to control and obtain remedies with respect to all Secondary Collateral without the necessity of any consent or of any
notice to the Collateral Trustee, or any such Holder, subject to the limitations set forth in the Intercreditor Agreement. 

(c) As among the Collateral Trustee, the Term Loan Agent, the Trustee, each other Authorized Representative (as defined in the Collateral
Trust Agreement) (if any), the Holders of the Notes, the holders of the Term Loan Obligations and the holders of any other Pari-Passu Obligations, the Collateral Trustee shall, subject to the limitations set forth in the Intercreditor Agreement,
exercise the rights and remedies provided in the Collateral Trust Agreement and the Security Documents (as defined in the Collateral Trust Agreement) with respect to the Secondary Collateral at the written direction of the Applicable Authorized
Representative. 
  

 105 

 Section 10.08. Notes And Note Guarantees Not Subordinated. The provisions of
Section 10.07 are intended solely to set forth the relative ranking, as Liens, of the Liens on the Secondary Collateral securing the Notes as against the Liens thereon securing the Revolving Credit Obligations. The Notes and the Note Guarantees
are senior secured obligations of the Company and the Guarantors. Neither the Notes and the Note Guarantees nor the exercise or enforcement of any right or remedy for the payment or collection thereof (other than the exercise of rights and remedies
in respect of the Collateral, which are subject to the Intercreditor Agreement) are intended to be, or will ever be by reason of the provisions of Sections 10.07, in any respect subordinated, deferred, postponed, restricted or prejudiced.

 ARTICLE 11 

GUARANTEES 

Section 11.01. The Guarantees. Subject to the provisions of this Article, to the fullest extent permitted by applicable law,
each Guarantor hereby irrevocably and unconditionally guarantees, jointly and severally, on a secured basis, the full and punctual payment (whether at Stated Maturity, upon redemption, purchase pursuant to an Offer to Purchase or acceleration, or
otherwise) of the principal of, premium, if any, and interest on, and all other amounts payable under, each Note, and the full and punctual payment of all other amounts payable by the Company under the Indenture. Upon failure by the Company to pay
punctually any such amount, each Guarantor shall forthwith on demand pay the amount not so paid at the place and in the manner specified in the Indenture. 

Section 11.02. Guarantee Unconditional. The obligations of each Guarantor hereunder are unconditional and absolute and,
without limiting the generality of the foregoing, to the fullest extent permitted by applicable law, will not be released, discharged or otherwise affected by 

(1) any extension, renewal, settlement, compromise, waiver or release in respect of any obligation of the Company under
the Indenture, any Security Document or any Note, by operation of law or otherwise; 
 (2) any modification or
amendment of or supplement to the Indenture, any Security Document or any Note; 
 (3) any change in the
corporate existence, structure or ownership of the Company, or any insolvency, bankruptcy, reorganization or other similar proceeding affecting the Company or its assets or any resulting release or discharge of any obligation of the Company
contained in the Indenture, any Security Document or any Note; 
  

 106 

 (4) the existence of any claim, set-off or other rights which the Guarantor
may have at any time against the Company, the Trustee or any other Person, whether in connection with the Indenture or any unrelated transactions, provided that nothing herein prevents the assertion of any such claim by separate suit or
compulsory counterclaim; 
 (5) any invalidity or unenforceability relating to or against the Company for any
reason of the Indenture, any Security Document or any Note, or any provision of applicable law or regulation purporting to prohibit the payment by the Company of the principal of or interest on any Note or any other amount payable by the Company
under the Indenture; or 
 (6) any other act or omission to act or delay of any kind by the Company, the Trustee
or any other Person or any other circumstance whatsoever which might, but for the provisions of this paragraph, constitute a legal or equitable discharge of or defense to such Guarantor’s obligations hereunder. 

Section 11.03. Discharge; Reinstatement. Each Guarantor’s obligations hereunder will remain in full force and effect
until the principal of, premium, if any, and interest on the Notes and all other amounts payable by the Company under the Indenture have been paid in full. If at any time any payment of the principal of, premium, if any, or interest on any Note or
any other amount payable by the Company under the Indenture is rescinded or must be otherwise restored or returned upon the insolvency, bankruptcy or reorganization of the Company or otherwise, each Guarantor’s obligations hereunder with
respect to such payment will be reinstated as though such payment had been due but not made at such time. 

Section 11.04. Waiver by the Guarantors. To the fullest extent permitted by applicable law, each Guarantor irrevocably waives
acceptance hereof, presentment, demand, protest and any notice not provided for herein, as well as any requirement that at any time any action be taken by any Person against the Company or any other Person. 

Section 11.05. Subrogation and Contribution. Upon making any payment with respect to any obligation of the Company under this
Article, the Guarantor making such payment will be subrogated to the rights of the payee against the Company with respect to such obligation, provided that the Guarantor may not enforce either any right of subrogation, or any right to receive
payment in the nature of contribution, or otherwise, from any other Guarantor, with respect to such payment so long as any amount payable by the Company hereunder or under the Notes remains unpaid. 

 

 107 

 Section 11.06. Stay of Acceleration. If acceleration of the time for payment of
any amount payable by the Company under the Indenture or the Notes is stayed upon the insolvency, bankruptcy or reorganization of the Company, all such amounts otherwise subject to acceleration under the terms of the Indenture are nonetheless
payable by the Guarantors hereunder forthwith on demand by the Trustee or the Holders. 
 Section 11.07. Limitation on
Amount of Guarantee. Notwithstanding anything to the contrary in this Article, each Guarantor, and by its acceptance of Notes, each Holder, hereby confirms that it is the intention of all such parties that the Note Guarantee of such Guarantor
not constitute a fraudulent conveyance under applicable fraudulent conveyance provisions of the United States Bankruptcy Code or any comparable provision of state law. To effectuate that intention, the Trustee, the Holders and the Guarantors hereby
irrevocably agree that the obligations of each Guarantor (other than Holdings) under its Note Guarantee are limited to the maximum amount that would not render the Guarantor’s obligations subject to avoidance under applicable fraudulent
conveyance provisions of the United States Bankruptcy Code or any comparable provision of state law. 
 Section 11.08.
Execution and Delivery of Guarantee. The execution by each Guarantor of the Indenture (or a supplemental indenture in the form of Exhibit B) evidences the Note Guarantee of such Guarantor, whether or not the person signing as an officer of
the Guarantor still holds that office at the time of authentication of any Note. The delivery of any Note by the Trustee after authentication constitutes due delivery of the Note Guarantee set forth in the Indenture on behalf of each Guarantor.

 Section 11.09. Release of Guarantee. The Note Guarantee of a Guarantor (other than Holdings) will terminate:

 (1) in connection with any sale or other disposition of all of the Capital Stock of a Guarantor to a Person
that is not (either before or after giving effect to such transaction) the Company or a Restricted Subsidiary, if the sale of all such Capital Stock of that Guarantor complies with Section 4.12; 

(2) if the Company designates such Guarantor as an Unrestricted Subsidiary in accordance with the provisions of the
Indenture; 
 (3) upon legal or covenant defeasance of the Notes or satisfaction and discharge of the Indenture
as provided in Article 8 or; 
 (4) upon a sale of Capital Stock which causes such Guarantor to cease to be a
Subsidiary if such sale does not violate any of the provisions of the Indenture; provided that such Guarantor is concurrently released from any other Guarantees of Indebtedness of the Company or any of its Restricted Subsidiaries at such
time. 
  

 108 

 Upon delivery by the Company to the Trustee of an Officer’s Certificate and an Opinion
of Counsel to the foregoing effect, the Trustee will execute any documents reasonably required in order to evidence the release of the Guarantor from its obligations under its Note Guarantee. 

ARTICLE 12 

MISCELLANEOUS 

Section 12.01. Trust Indenture Act of 1939. If any provision of this Indenture limits, qualifies, or conflicts with
provisions of the Trust Indenture Act that are required to be part of and to govern indentures qualified under the Trust Indenture Act, such incorporated provisions shall control except as set forth in the next sentence. Sections 313(a)(5),
313(a)(6), 313(a)(7), 314(b)(1) and 314(d) of the Trust Indenture Act are not incorporated into or otherwise made a part of this Indenture. 

Section 12.02. Noteholder Communications; Noteholder Actions. (a) The rights of Holders to communicate with other
Holders with respect to the Indenture or the Notes are as provided by the Trust Indenture Act, and the Company and the Trustee shall comply with the requirements of Trust Indenture Act Sections 312(a) and 312(b). Neither the Company nor the Trustee
will be held accountable by reason of any disclosure of information as to names and addresses of Holders made pursuant to the Trust Indenture Act. 

(b) (1) Any request, demand, authorization, direction, notice, consent to amendment, supplement or waiver or other
action provided by this Indenture to be given or taken by a Holder (an “act”) may be evidenced by an instrument signed by the Holder delivered to the Trustee. The fact and date of the execution of the instrument, or the authority of
the person executing it, may be proved in any manner that the Trustee deems sufficient. 
 (2) The Trustee may
make reasonable rules for action by or at a meeting of Holders, which will be binding on all the Holders. 
 (c) Any act by the
Holder of any Note binds that Holder and every subsequent Holder of a Note that evidences the same debt as the Note of the acting Holder, even if no notation thereof appears on the Note. Subject to paragraph (d), a Holder may revoke an act as to its
Notes, but only if the Trustee receives the notice of revocation before the date the amendment or waiver or other consequence of the act becomes effective. 
  

 109 

 (d) The Company may, but is not obligated to, fix a record date (which need not be within
the time limits otherwise prescribed by Trust Indenture Act Section 316(c)) for the purpose of determining the Holders entitled to act with respect to any amendment or waiver or in any other regard, except that during the continuance of an
Event of Default, only the Trustee may set a record date as to notices of default, any declaration or acceleration or any other remedies or other consequences of the Event of Default. If a record date is fixed, those Persons that were Holders at
such record date and only those Persons will be entitled to act, or to revoke any previous act, whether or not those Persons continue to be Holders after the record date. No act will be valid or effective for more than 90 days after the record date.

 Section 12.03. Notices. (a) Any notice or communication to the Company will be deemed given if in writing
(i) when delivered in person or (ii) five days after mailing when mailed by first class mail, or (iii) when sent by facsimile transmission, with transmission confirmed. Notices or communications to a Guarantor will be deemed given if
given to the Company. Any notice to the Trustee will be effective only upon receipt. In each case the notice or communication should be addressed as follows: 

if to the Company: 

Spectrum Brands, Inc. 

610 Rayovac Drive Madison, 

Wisconsin 53719 

Attention: General Counsel 

(608) 288-4485 

if to the Trustee: 

US Bank National Association 

150 Fourth Avenue North, 2nd Floor 

Nashville, Tennessee 37219 

Attention: Corporate Trust Services 

(615) 251-0737 
 The
Company or the Trustee by notice to the other may designate additional or different addresses for subsequent notices or communications. 

(b) Except as otherwise expressly provided with respect to published notices, any notice or communication to a Holder will be deemed
given when mailed to the Holder at its address as it appears on the Register by first class mail or, as to any Global Note registered in the name of DTC or its nominee, as agreed by the Company, the Trustee and DTC. Copies of any notice or
communication to a Holder, if given by the Company, will be mailed to the Trustee at the same time. Defect in mailing a notice or communication to any particular Holder will not affect its sufficiency with respect to other Holders. 

 

 110 

 (c) Where the Indenture provides for notice, the notice may be waived in writing by the
Person entitled to receive such notice, either before or after the event, and the waiver will be the equivalent of the notice. Waivers of notice by Holders must be filed with the Trustee, but such filing is not a condition precedent to the validity
of any action taken in reliance upon such waivers. 
 Section 12.04. Certificate and Opinion as to Conditions Precedent.
Upon any request or application by the Company to the Trustee to take any action under the Indenture, the Company will furnish to the Trustee: 

(1) an Officer’s Certificate stating that, in the opinion of the signers, all conditions precedent, if any, provided
for in the Indenture relating to the proposed action have been complied with; and 
 (2) an Opinion of Counsel
stating that all such conditions precedent have been complied with. 
 Section 12.05. Statements Required in Certificate
or Opinion. Each certificate or opinion with respect to compliance with a condition or covenant provided for in the Indenture must include: 

(1) a statement that each person signing the certificate or opinion has read the covenant or condition and the related
definitions; 
 (2) a brief statement as to the nature and scope of the examination or investigation upon which
the statement or opinion contained in the certificate or opinion is based; 
 (3) a statement that, in the
opinion of each such person, that person has made such examination or investigation as is necessary to enable the person to express an informed opinion as to whether or not such covenant or condition has been complied with; and 

(4) a statement as to whether or not, in the opinion of each such person, such condition or covenant has been complied
with, provided that an Opinion of Counsel may rely on an Officer’s Certificate or certificates of public officials with respect to matters of fact. 

Section 12.06. Payment Date Other Than a Business Day. If any payment with respect to a payment of any principal of, premium,
if any, or interest on any Note (including any payment to be made on any date fixed for redemption or purchase of any Note) is due on a day which is not a Business Day, then the payment need not be made on such date, but may be made on the next
Business Day with the same force and effect as if made on such date, and no interest will accrue for the intervening period. 
  

 111 

 Section 12.07. Governing Law. The Indenture, including any Note Guarantees, and
the Notes shall be governed by, and construed in accordance with, the laws of the State of New York. 
 Section 12.08.
No Adverse Interpretation of Other Agreements. The Indenture may not be used to interpret another indenture or loan or debt agreement of the Company or any Subsidiary of the Company, and no such indenture or loan or debt agreement may be used to
interpret the Indenture. 
 Section 12.09. Successors. All agreements of the Company or any Guarantor in the
Indenture and the Notes will bind its successors. All agreements of the Trustee in the Indenture will bind its successor. 

Section 12.10. Duplicate Originals. The parties may sign any number of copies of the Indenture. Each signed copy shall be an
original, but all of them together represent the same agreement. 
 Section 12.11. Separability. In case any
provision in the Indenture or in the Notes is invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions will not in any way be affected or impaired thereby. 

Section 12.12. Table of Contents and Headings. The Table of Contents, Cross-Reference Table and headings of the Articles and
Sections of the Indenture have been inserted for convenience of reference only, are not to be considered a part of the Indenture and in no way modify or restrict any of the terms and provisions of the Indenture. 

Section 12.13. No Liability of Directors, Officers, Employees and Stockholders. No director, officer, employee, incorporator,
stockholder or controlling person of the Company or any Guarantor, as such, shall have any liability for any obligations of the Company or the Guarantors under the Notes, the Indenture, the Note Guarantees, the Security Documents, the Intercreditor
Agreement or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder of Notes by accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for
issuance of the Notes. 
 Section 12.14. Benefits of Indenture. Nothing in this Indenture, express or implied, shall
give to any Person, other than the parties hereto and their successors thereunder, any Paying Agent and the Holders, any benefit or any legal or equitable right, remedy or claim under this Indenture. 

Section 12.15. Rules by Trustee and Agents. The Trustee may make reasonable rules for action by or at a meeting of Holders.
The Registrar or Paying Agent may make reasonable rules and set reasonable requirements for its function. 
  

 112 

 SIGNATURES 

IN WITNESS WHEREOF, the parties hereto have caused the Indenture to be duly executed as of the date first written above. 

 

					
	 SPECTRUM BRANDS, INC.

as Issuer

		
	By:	 	/s/ John T. Wilson
		 	Name:	 	John T. Wilson
		 	Title:	 	Senior Vice President, Secretary and General Counsel

  

					
	 US BANK NATIONAL ASSOCIATION

as Trustee

		
	By:	 	/s/ Wally Jones
		 	Name:	 	Wally Jones
		 	Title:	 	Vice President

  

 113 

 GUARANTORS: 

DB ONLINE, LLC 
 ROV HOLDING, INC. 

ROVCAL, INC. 
 SCHULTZ COMPANY 

SPECTRUM JUNGLE LABS CORPORATION 
 SPECTRUM
NEPTUNE US HOLDCO CORPORATION 
 TETRA HOLDING (US), INC. 

UNITED INDUSTRIES CORPORATION 
 UNITED PET GROUP,
INC. 
  

					
		
	By:	 	/s/ John T. Wilson
		 	Name:	 	John T. Wilson
		 	Title:	 	Senior Vice President / Vice President and Secretary / Assistant Secretary, as applicable

SB/RH HOLDINGS, LLC 
 RUSSELL HOBBS, INC.

 APN HOLDING COMPANY, INC. 
 APPLICA
AMERICAS, INC. 
 APPLICA CONSUMER PRODUCTS, INC. 

APPLICA MEXICO HOLDINGS, INC. 
 HOME CREATIONS
DIRECT, LTD. 
 HP DELAWARE, INC. 
 HPG
LLC 
 SALTON HOLDINGS, INC. 

TOASTMASTER INC. 
  

					
		
	By:	 	/s/ Lisa R. Carstarphen
		 	Name:	 	Lisa R. Carstarphen
		 	Title:	 	Vice President and Secretary

  

 114Credit Agreement

 Exhibit 10.12 

EXECUTION COPY 
  

 
  

CREDIT AGREEMENT 

dated as of 

June 16, 2010 

among 
 SPECTRUM
BRANDS, INC., 
 as Borrower, 

SB/RH HOLDINGS, LLC, 

THE LENDERS PARTY HERETO 

and 
 CREDIT
SUISSE AG, 
 as Administrative Agent 
  

 
 CREDIT SUISSE
SECURITIES (USA) LLC, 
 BANC OF AMERICA SECURITIES LLC 

and 
 DEUTSCHE BANK
SECURITIES INC., 
 as Joint Bookrunners and Joint Lead Arrangers 

BANK OF AMERICA, N.A., 

as Syndication Agent 

DEUTSCHE BANK TRUST COMPANY AMERICAS, 

as Documentation Agent 
  

 
  

 TABLE OF CONTENTS 

 
  

 

					
	 	 	 	  	PAGE
		 	ARTICLE 1	  	
		 	DEFINITIONS	  	
			
	Section 1.01.	 	Defined Terms	  	2
	Section 1.02.	 	Terms Generally	  	31
	Section 1.03.	 	Pro Forma Calculations	  	31
	Section 1.04.	 	Classification of Loans and Borrowings	  	32
	Section 1.05.	 	Designation as Senior Debt	  	32
	Section 1.06.	 	Currency Equivalents Generally	  	32
			
		 	ARTICLE 2	  	
		 	THE CREDITS	  	
			
	Section 2.01.	 	Commitments	  	32
	Section 2.02.	 	Loans	  	33
	Section 2.03.	 	Borrowing Procedure	  	34
	Section 2.04.	 	Evidence of Debt; Repayment of Loans	  	34
	Section 2.05.	 	Fees	  	35
	Section 2.06.	 	Interest on Loans	  	36
	Section 2.07.	 	Default Interest	  	36
	Section 2.08.	 	Alternate Rate of Interest	  	37
	Section 2.09.	 	Termination and Reduction of Commitments	  	37
	Section 2.10.	 	Conversion and Continuation of Borrowings	  	37
	Section 2.11.	 	Repayment of Term Borrowings	  	39
	Section 2.12.	 	Voluntary Prepayment	  	41
	Section 2.13.	 	Mandatory Prepayments	  	41
	Section 2.14.	 	Reserve Requirements; Change in Circumstances	  	43
	Section 2.15.	 	Change in Legality	  	44
	Section 2.16.	 	Breakage	  	45
	Section 2.17.	 	Pro Rata Treatment	  	45
	Section 2.18.	 	Sharing of Setoffs	  	46
	Section 2.19.	 	Payments	  	46
	Section 2.20.	 	Taxes	  	47
	Section 2.21.	 	Assignment of Commitments Under Certain Circumstances; Duty to Mitigate	  	49
	Section 2.22.	 	Incremental Term Loans	  	50
			
		 	ARTICLE 3	  	
		 	REPRESENTATIONS AND WARRANTIES	  	
			
	Section 3.01.	 	Organization; Powers	  	53
	Section 3.02.	 	Authorization	  	53

					
	Section 3.03.	 	Enforceability	  	53
	Section 3.04.	 	Governmental Approvals	  	54
	Section 3.05.	 	Financial Statements	  	54
	Section 3.06.	 	No Material Adverse Change	  	55
	Section 3.07.	 	Title to Properties; Possession Under Leases	  	55
	Section 3.08.	 	Subsidiaries	  	56
	Section 3.09.	 	Litigation; Compliance with Laws	  	56
	Section 3.10.	 	Agreements	  	56
	Section 3.11.	 	Federal Reserve Regulations	  	57
	Section 3.12.	 	Investment Company Act	  	57
	Section 3.13.	 	Use of Proceeds	  	57
	Section 3.14.	 	Tax Returns	  	57
	Section 3.15.	 	No Material Misstatements	  	57
	Section 3.16.	 	Employee Benefit Plans	  	58
	Section 3.17.	 	Environmental Matters	  	58
	Section 3.18.	 	Insurance	  	58
	Section 3.19.	 	Security Documents	  	59
	Section 3.20.	 	Location of Real Property and Leased Premises	  	60
	Section 3.21.	 	Labor Matters	  	60
	Section 3.22.	 	Solvency	  	60
	Section 3.23.	 	Transaction Documents	  	60
	Section 3.24.	 	Senior Indebtedness	  	61
	Section 3.25.	 	Sanctioned Persons	  	61
	Section 3.26.	 	Foreign Corrupt Practices Act	  	61
			
		 	ARTICLE 4	  	
		 	CONDITIONS OF LENDING	  	
			
	Section 4.01.	 	All Credit Events	  	61
	Section 4.02.	 	First Credit Event	  	62
			
		 	ARTICLE 5	  	
		 	AFFIRMATIVE COVENANTS	  	
			
	Section 5.01.	 	Existence; Compliance with Laws; Businesses and Properties	  	66
	Section 5.02.	 	Insurance	  	67
	Section 5.03.	 	Obligations and Taxes	  	68
	Section 5.04.	 	Financial Statements, Reports, etc.	  	69
	Section 5.05.	 	Litigation and Other Notices	  	71
	Section 5.06.	 	Information Regarding Collateral	  	72
	Section 5.07.	 	Maintaining Records; Access to Properties and Inspections; Maintenance of Ratings	  	72
	Section 5.08.	 	Use of Proceeds	  	73
	Section 5.09.	 	Employee Benefits	  	73
	Section 5.10.	 	Compliance with Environmental Laws	  	73
	Section 5.11.	 	Preparation of Environmental Reports	  	73

  

 ii 

					
	Section 5.12.	 	Further Assurances	  	74
	Section 5.13.	 	Proceeds of Certain Dispositions	  	74
	Section 5.14.	 	Compliance with Terms of Material Leaseholds	  	75
			
		 	ARTICLE 6	  	
		 	NEGATIVE COVENANTS	  	
			
	Section 6.01.	 	Indebtedness	  	75
	Section 6.02.	 	Liens	  	78
	Section 6.03.	 	Sale and Lease-back Transactions	  	80
	Section 6.04.	 	Investments, Loans and Advances	  	81
	Section 6.05.	 	Mergers, Consolidations, Sales of Assets and Acquisitions	  	82
	Section 6.06.	 	Restricted Payments; Restrictive Agreements	  	84
	Section 6.07.	 	Transactions with Affiliates	  	86
	Section 6.08.	 	Business of Holdings, Borrower and Subsidiaries	  	87
	Section 6.09.	 	Other Indebtedness and Agreements	  	87
	Section 6.10.	 	Capital Expenditures	  	88
	Section 6.11.	 	Interest Coverage Ratio	  	88
	Section 6.12.	 	Maximum Leverage Ratio	  	89
	Section 6.13.	 	Fiscal Year	  	89
	Section 6.14.	 	Certain Equity Securities	  	89
			
		 	ARTICLE 7	  	
		 	EVENTS OF DEFAULT	  	
			
	Section 7.01.	 	Events of Default	  	90
	Section 7.02.	 	Application of Proceeds	  	93
			
		 	ARTICLE 8	  	
		 	THE ADMINISTRATIVE AGENT AND THE COLLATERAL TRUSTEE;
ETC.	  	
			
		 	ARTICLE 9	  	
		 	MISCELLANEOUS	  	
			
	Section 9.01.	 	Notices; Electronic Communications	  	96
	Section 9.02.	 	Survival of Agreement	  	99
	Section 9.03.	 	Binding Effect	  	100
	Section 9.04.	 	Successors and Assigns	  	100
	Section 9.05.	 	Expenses; Indemnity	  	104
	Section 9.06.	 	Right of Setoff	  	106
	Section 9.07.	 	Applicable Law	  	106
	Section 9.08.	 	Waivers; Amendment	  	106
	Section 9.09.	 	Interest Rate Limitation	  	107
	Section 9.10.	 	Entire Agreement	  	108
	Section 9.11.	 	WAIVER OF JURY TRIAL	  	108
	Section 9.12.	 	Severability	  	108
	Section 9.13.	 	Counterparts	  	108

  

 iii 

					
	Section 9.14.	 	Headings	  	109
	Section 9.15.	 	Jurisdiction; Consent to Service of Process	  	109
	Section 9.16.	 	Confidentiality	  	109
	Section 9.17.	 	Lender Action	  	110
	Section 9.18.	 	USA PATRIOT Act Notice	  	110

  

					
	 SCHEDULES
	  		    	
			
	 Schedule 1.01(a)
	  	-	    	Existing Credit Facilities
	 Schedule 1.01(b)
	  	-	    	Mortgaged Property
	 Schedule 1.01(c)
	  	-	    	Subsidiary Guarantors
	 Schedule 2.01
	  	-	    	Lenders and Commitments
	 Schedule 3.08
	  	-	    	Subsidiaries
	 Schedule 3.09
	  	-	    	Litigation
	 Schedule 3.16
	  	-	    	ERISA Events
	 Schedule 3.17
	  	-	    	Environmental Matters
	 Schedule 3.18
	  	-	    	Insurance
	 Schedule 3.19(a)
	  	-	    	UCC Filing Offices
	 Schedule 3.19(c)
	  	-	    	Mortgage Filing Offices
	 Schedule 3.20(a)
	  	-	    	Owned Real Property
	 Schedule 3.20(b)
	  	-	    	Leased Real Property
	 Schedule 3.21
	  	-	    	Labor Matters
	 Schedule 4.02(a)
	  	-	    	Local Counsel
	 Schedule 6.01
	  	-	    	Existing Indebtedness
	 Schedule 6.02
	  	-	    	Existing Liens
	 Schedule 6.04
	  	-	    	Existing Investments
	 Schedule 6.06
	  		    	Existing Restrictive Agreements
	 Schedule 6.07
	  	-	    	Existing Transactions with Affiliates
			
	 EXHIBITS
	  		    	
			
	 Exhibit A
	  	-	    	Form of Administrative Questionnaire
	 Exhibit B
	  	-	    	Form of Assignment and Acceptance
	 Exhibit C
	  	-	    	Form of Borrowing Request
	 Exhibit D
	  	-	    	Form of Security Agreement
	 Exhibit E-1
	  	-	    	Form of Holdings Guaranty
	 Exhibit E-2
	  	-	    	Form of Subsidiary Guaranty
	 Exhibit F
	  	-	    	Form of Mortgage
	 Exhibit G
	  	-	    	Form of Collateral Trust Agreement
	 Exhibit H
	  	-	    	Form of ABL Intercreditor Agreement
	 Exhibit I
	  	-	    	Form of Affiliate Subordination Agreement
	 Exhibit J-1
	  	-	    	Form of Opinion of Sutherland Asbill & Brennan LLP
	 Exhibit J-2
	  	-	    	Form of Local Counsel Opinion
	 Exhibit K
	  	-	    	Form of Compliance Certificate
	 Exhibit L
	  	-	    	Form of United States Tax Compliance Certificate

  

 iv 

 CREDIT AGREEMENT dated as of June 16, 2010 among SPECTRUM BRANDS, INC., a Delaware
corporation (the “Borrower” or “Spectrum”), SB/RH HOLDINGS, LLC, a Delaware limited liability company (“Holdings”), the Lenders (such term and each other capitalized term used but not defined in
this introductory statement having the meaning given it in Article 1), CREDIT SUISSE AG, as administrative agent for the Lenders (in such capacity, including any successor thereto, the “Administrative Agent”). 

Spectrum is party to an Agreement and Plan of Merger dated as of February 9, 2010 (as amended by Amendment No. 1 dated as of
March 1, 2010, Amendment No. 2 dated as of March 26, 2010 and Amendment No. 3 dated as of April 30, 2010, the “Merger Agreement”) by and among Spectrum Brands Holdings, Inc. (formerly known as SB/RH
Holdings, Inc.), a Delaware corporation (“Super Holdco”), Battery Merger Corp., a Delaware corporation (“Spectrum Merger Sub”), Grill Merger Corp., a Delaware corporation (“Russell Hobbs Merger
Sub”), Spectrum and Russell Hobbs, Inc., a Delaware corporation (“Russell Hobbs”), pursuant to which Spectrum will engage in a business combination transaction with Russell Hobbs that is implemented by the acquisition by
Super Holdco of all of the equity interests of Spectrum and Russell Hobbs as follows: Super Holdco (i) causes Spectrum Merger Sub to be merged with and into Spectrum, with Spectrum surviving as a wholly owned subsidiary of Super Holdco, with
the equityholders of Spectrum receiving common equity of Super Holdco as merger consideration (the “Spectrum Merger”), (ii) causes Russell Hobbs Merger Sub to be merged with and into Russell Hobbs, with Russell Hobbs surviving
as a wholly owned subsidiary of Super Holdco, with the equityholders of Russell Hobbs receiving common equity of Super Holdco as merger consideration (the “Russell Hobbs Merger” and, together with the Spectrum Merger, the
“Mergers”) and (iii) immediately following the Mergers, (A) contributes all of the outstanding equity interests of Russell Hobbs (the “Russell Hobbs Contribution”) to Spectrum, resulting in Russell Hobbs
becoming a wholly owned subsidiary of Spectrum, and (B) contributes all of the outstanding equity interests of Spectrum (the “Spectrum Contribution” and, together with the Mergers and the Russell Hobbs Contribution, the
“Acquisition”) to Holdings, a wholly owned subsidiary of Super Holdco. 
 The Borrower has requested the
Lenders to extend credit in the form of Term Loans on the Closing Date, in an aggregate principal amount not in excess of $750,000,000. 

The proceeds of the Term Loans are to be used solely to refinance certain existing indebtedness of Spectrum, Russell Hobbs and their
respective subsidiaries outstanding as of the Closing Date and to pay fees and expenses related to the Transactions. 

 Concurrently herewith, the Borrower is entering into the ABL Credit Agreement providing for
loans and other extensions of credit in an aggregate principal amount of up to $300,000,000. 
 Concurrently herewith, the
Borrower is issuing the Senior Secured Notes in the initial aggregate principal amount of $750,000,000 pursuant to the Senior Secured Note Indenture. 

The Lenders are willing to extend such credit to the Borrower on the terms and subject to the conditions set forth herein. Accordingly,
the parties hereto agree as follows: 
 ARTICLE 1 

DEFINITIONS 

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

 “ABL Credit Agreement” shall mean that certain Loan and Security Agreement dated as of June 16, 2010,
among Spectrum and certain of its Subsidiaries, as borrowers, the lenders party thereto, and Bank of America, N.A., as administrative agent. 

“ABL Documents” shall mean the ABL Credit Agreement and all other instruments, agreements and other documents delivered
thereunder or providing for any Guarantee or other right in respect thereof. 
 “ABL Intercreditor Agreement”
shall mean the Intercreditor Agreement, substantially in the form of Exhibit H, among the Borrower, the Guarantors, the Collateral Trustee and Bank of America, N.A., as administrative agent under the ABL Credit Agreement. 

“ABL Priority Collateral” shall have the meaning assigned to such term in the ABL Intercreditor Agreement. 

“ABR”, when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such
Borrowing, are bearing interest at a rate determined by reference to the Alternate Base Rate. 
 “Acquired
Entity” shall have the meaning assigned to such term in Section 6.05(a)(iv). 
 “Acquisition”
shall have the meaning assigned to such term in the preliminary statements hereto. 
  

 2 

 “Adjusted LIBO Rate” shall mean, with respect to any Eurodollar Borrowing
for any Interest Period, an interest rate per annum equal to the greater of (a) 1.50% and (b) the product of (i) the LIBO Rate in effect for such Interest Period and (ii) Statutory Reserves. 

“Administrative Agent” shall have the meaning assigned to such term in the introductory statement hereto. 

“Administrative Questionnaire” shall mean an Administrative Questionnaire in the form of Exhibit A, or such other
form as may be supplied from time to time by the Administrative Agent. 
 “Affiliate” shall mean, when used
with respect to a specified Person, another Person that directly, or indirectly through one or more intermediaries, Controls or is Controlled by or is under common Control with the Person specified. 

“Affiliate Subordination Agreement” shall mean an Affiliate Subordination Agreement in the form of Exhibit I
pursuant to which intercompany obligations and advances owed by any Loan Party are subordinated to the Obligations. 

“Agents” shall have the meaning assigned to such term in Article 8. 

“Agreement Value” means, for each Hedging Agreement, on any date of determination, the maximum aggregate amount (giving
effect to any netting agreements) that Holdings, the Borrower or such Subsidiary would be required to pay if such Hedging Agreement were terminated on such date. 

“Alternate Base Rate” shall mean, for any day, a rate per annum equal to the greatest of (a) the Prime Rate in
effect on such day, (b) the Federal Funds Effective Rate in effect on such day plus 1/2 of 1% and (c) the Adjusted LIBO Rate applicable for an Interest Period of one month beginning on such day (or if such day is not a Business Day, the
immediately preceding Business Day) plus 1%; provided that, for the avoidance of doubt, the Adjusted LIBO Rate for any day shall be based on the rate determined on such day at approximately 11:00 a.m. (London time) by reference to the British
Bankers’ Association Interest Settlement Rates for deposits in Dollars (as set forth by any service selected by the Administrative Agent that has been nominated by the British Bankers’ Association as an authorized vendor for the purpose of
displaying such rates). If the Administrative Agent shall have determined (which determination shall be conclusive absent manifest error) that it is unable to ascertain the Federal Funds Effective Rate for any reason, including the inability or
failure of the Administrative Agent to obtain sufficient quotations in accordance with the terms of the definition thereof, the Alternate Base Rate shall be determined without regard to clause (b) of the preceding sentence until the
circumstances giving rise 
  

 3 

 
to such inability no longer exist. Any change in the Alternate Base Rate due to a change in the Prime Rate, the Federal Funds Effective Rate or the Adjusted LIBO Rate shall be effective on the
effective date of such change in the Prime Rate, the Federal Funds Effective Rate or the Adjusted LIBO Rate, as the case may be. 

“Applicable Margin” shall mean, for any day (a) with respect to any Eurodollar Term Loan, 6.50% per annum and
(b) with respect to any ABR Term Loan, 5.50% per annum. 
 “Asset Sale” shall mean the sale, transfer
or other disposition (by way of merger, casualty, condemnation or otherwise) by the Borrower or any of the Subsidiaries to any Person other than the Borrower or any Subsidiary Guarantor of (a) any Equity Interests of any of the Subsidiaries
(other than directors’ qualifying shares) or (b) any other assets of the Borrower or any of the Subsidiaries (other than (i) inventory, damaged, obsolete or worn out assets, scrap and Permitted Investments, in each case disposed of in
the ordinary course of business, (ii) dispositions between or among Foreign Subsidiaries, (iii) any ABL Priority Collateral, (iv) any sale, transfer or other disposition or series of related sales, transfers or other dispositions
having a value not to exceed $3,000,000 in any period of twelve consecutive months most recently ended, (v) sales, transfers and other distributions of equipment (A) in a transaction where such equipment is exchanged for credit against the
purchase price of similar replacement equipment or (B) the proceeds of such disposition are reasonably promptly applied to the purchase price of such replacement equipment, (vi) dispositions in the ordinary course of business consisting of
abandonment of all of the trademarks, service marks, trade names, copyrights, patents, patent rights, franchises, licenses and other intellectual property rights that, in the good faith determination of the Borrower or any Subsidiary, are
uneconomical, negligible, obsolete or otherwise not material in the conduct of its business, (vii) dispositions of property formerly leased by the Borrower or its Subsidiaries and acquired by the Borrower and sold as an alternative to
terminating the lease on such property, (viii) the sale, transfer or other disposition of all or a portion of the Equity Interests of Rayovac PRC, a wholly-owned indirect Subsidiary and a direct subsidiary of Spectrum Brands Mauritius Limited
and (ix) the assignment or other transfer of all rights in and to the mark STA GREEN and any applications and registrations thereof). 

“Assignment and Acceptance” shall mean an assignment and acceptance entered into by a Lender and an Eligible Assignee,
and accepted by the Administrative Agent, in the form of Exhibit B or such other form as shall be approved by the Administrative Agent. 

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

“Borrower” shall have the meaning assigned to such term in the introductory statement hereto. 

 

 4 

 “Borrower Materials” shall have the meaning assigned to such term in
Section 9.01. 
 “Borrowing” shall mean Loans of the same Class and Type made, converted or continued on
the same date and, in the case of Eurodollar Term Loans, as to which a single Interest Period is in effect. 

“Borrowing Request” shall mean a request by the Borrower in accordance with the terms of Section 2.03 and
substantially in the form of Exhibit C, or such other form as shall be approved by the Administrative Agent. 

“Breakage Event” shall have the meaning assigned to such term in Section 2.16. 

“Business Day” shall mean any day other than a Saturday, Sunday or day on which banks in New York City are
authorized or required by law to close; provided, however, that when used in connection with a Eurodollar Term Loan, the term “Business Day” shall also exclude any day on which banks are not open for dealings in Dollar
deposits in the London interbank market. 
 “Capital Expenditures” shall mean, for any period, the additions to
property, plant and equipment and other capital expenditures of the Borrower and its consolidated Subsidiaries that are (or should be) set forth in a consolidated statement of cash flows of the Borrower for such period prepared in accordance with
GAAP but excluding in each case any such expenditure made to restore, replace or rebuild property to the condition of such property immediately prior to any damage, loss, destruction or condemnation of such property, to the extent such expenditure
is made with insurance proceeds, condemnation awards or damage recovery proceeds relating to any such damage, loss, destruction or condemnation. 

“Capital Lease Obligations” of any Person shall mean the obligations of such Person to pay rent or other amounts under
any lease of (or other arrangement conveying the right to use) real or personal property, or a combination thereof, which obligations are required to be classified and accounted for as capital leases on a balance sheet of such Person under GAAP, and
the amount of such obligations shall be the capitalized amount thereof determined in accordance with GAAP. 
 “Casualty
Event” means any casualty or other insured damage to, or any taking under any power of eminent domain or condemnation or similar proceeding of, any assets of the Borrower or any of the Subsidiaries. 

 

 5 

 A “Change in Control” shall be deemed to have occurred if (a) any
“person” or “group” (within the meaning of Rule 13d-5 of the Securities Exchange Act of 1934 as in effect on the date hereof), other than the Permitted Investors, shall own, directly or indirectly, beneficially or of record,
shares representing more than (i) 35% of the aggregate ordinary voting power represented by the issued and outstanding capital stock of Super Holdco and (ii) the aggregate ordinary voting power represented by the issued and outstanding
capital stock of Super Holdco directly or indirectly owned by the Permitted Investors, (b) a majority of the seats (other than vacant seats) on the board of directors of Super Holdco shall at any time be occupied by persons who were neither
(i) nominated by the board of directors of Super Holdco (or any committee thereof with the authority to nominate directors) or the Permitted Investors nor (ii) appointed by directors so nominated, (c) any change in control (or similar
event, however denominated) with respect to Super Holdco, Holdings or the Borrower shall occur under and as defined in any indenture or agreement in respect of Material Indebtedness, (d) Super Holdco shall cease to directly own, beneficially
and of record, 100% of the issued and outstanding Equity Interests of Holdings, or (e) Holdings shall cease to directly own, beneficially and of record, 100% of the issued and outstanding Equity Interests of the Borrower. 

“Change in Law” shall mean (a) the adoption of any law, rule or regulation after the date of this Agreement,
(b) any change in any law, rule or regulation or in the interpretation or application thereof by any Governmental Authority after the date of this Agreement or (c) compliance by any Lender (or, for purposes of Section 2.14, by any
lending office of such Lender or by such Lender’s holding company, if any) with any request, guideline or directive (whether or not having the force of law) of any Governmental Authority made or issued after the date of this Agreement.

 “Charges” shall have the meaning assigned to such term in Section 9.09. 

“Class”, when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such
Borrowing, are Term Loans or Other Term Loans and, when used in reference to any Commitment, refers to whether such Commitment is a Term Loan Commitment or an Incremental Term Loan Commitment. 

“Closing Date” shall mean the date on which the initial Term Loans are made, which date is June 16, 2010.

 “Closing Date Russell Hobbs Material Adverse Effect” shall mean any event, circumstance, change, development
or effect that, individually or in the aggregate with all other events, circumstances, changes, developments or effects, (i) is materially adverse to the business, results of operations or financial condition of Russell Hobbs and any of its
subsidiaries taken as a whole; provided, however, that none of the following shall be deemed, either alone or in combination, to constitute, and none of the following shall be taken into account in determining whether there has been or will
be, a “Closing Date Russell Hobbs Material Adverse Effect” for purposes of this clause (i): any event, circumstance, 

 

 6 

 
change, development or effect to the extent arising out of or resulting from (A) changes in the United States or global economy or capital, financial, banking, credit or securities markets
generally, (B) any act of war or armed hostilities or the occurrence of acts of terrorism or sabotage in each case, in the United States, (C) the announcement of the Merger Agreement or the Transaction (as defined in the Merger Agreement),
(D) changes in applicable law or in the interpretation thereof, (E) changes in U.S. generally accepted accounting principles (or in the interpretation thereof) or accounting principles, practices or policies that are imposed on Russell
Hobbs or any of its subsidiaries, (F) changes in general economic, legal, tax, regulatory or political conditions in the geographic regions in which Russell Hobbs and its subsidiaries operate or the market for Russell Hobbs’s products,
(G) [RESERVED], (H) any failure of Russell Hobbs to meet financial projections or forecasts (it being understood that the factors giving rise to or contributing to any such failure that are not otherwise excluded from the definition of
“Closing Date Russell Hobbs Material Adverse Effect” may be deemed to constitute, or be taken into account in determining whether there has been or would be reasonably likely to have been, a Closing Date Russell Hobbs Material
Adverse Effect), or (I) the matters described in the Indemnity Agreement (as defined in the Merger Agreement); provided, however, that such matters in the case of clauses (A), (B), (D), (E) and (F) shall be taken into account
in determining whether there has been or will be a “Closing Date Russell Hobbs Material Adverse Effect” to the extent, but only to the extent, of any disproportionate impact on Russell Hobbs and its subsidiaries, taken as a whole,
relative to other participants operating in the same industries and the geographic markets of Russell Hobbs and its subsidiaries, or (ii) would have, or be reasonably likely to have, a material adverse effect on the ability of Russell Hobbs to
perform its obligations under the Merger Agreement or to consummate the Transaction (as defined in the Merger Agreement) prior to August 12, 2010. 

“Closing Date Spectrum Material Adverse Effect” shall mean any event, circumstance, change, development or effect that,
individually or in the aggregate with all other events, circumstances, changes, developments or effects, (i) is materially adverse to the business, results of operations or financial condition of Spectrum and any of its subsidiaries taken as a
whole; provided, however, that none of the following shall be deemed, either alone or in combination, to constitute, and none of the following shall be taken into account in determining whether there has been or will be, a “Closing
Date Spectrum Material Adverse Effect” for purposes of this clause (i): any event, circumstance, change, development or effect to the extent arising out of or resulting from (A) changes in the market price or trading volume of Spectrum
common stock (it being understood that the factors giving rise to or contributing to any such change that are not otherwise excluded from the definition of “Closing Date Spectrum Material Adverse Effect” may be deemed to constitute,
or be taken into account in determining whether there has been or would be reasonably likely to have been, a Closing Date Spectrum Material Adverse Effect), (B) changes in the United 

 

 7 

 
States or global economy or capital, financial, banking, credit or securities markets generally, (C) any act of war or armed hostilities or the occurrence of acts of terrorism or sabotage in
each case, in the United States, (D) the announcement of the Merger Agreement or the Transaction (as defined in the Merger Agreement), (E) changes in applicable law or in the interpretation thereof, (F) changes in U.S. generally
accepted accounting principles (or in the interpretation thereof) or accounting principles, practices or policies that are imposed on Spectrum or any of its subsidiaries, (G) changes in general economic, legal, tax, regulatory or political
conditions in the geographic regions in which Spectrum and its subsidiaries operate or the market for Spectrum’s products, (H) [RESERVED], (I) any failure of Spectrum to meet financial projections or forecasts (it being understood
that the factors giving rise to or contributing to any such failure that are not otherwise excluded from the definition of “Closing Date Spectrum Material Adverse Effect” may be deemed to constitute, or be taken into account in
determining whether there has been or would be reasonably likely to have been, a Closing Date Spectrum Material Adverse Effect), or (J) any litigation arising from any alleged breach of fiduciary duty or other violation of law relating to the
Merger Agreement or the Transaction (as defined in the Merger Agreement); provided, however, that such matters in the case of clauses (B), (C), (E), (F) and (G) shall be taken into account in determining whether there has been or
will be a “Closing Date Spectrum Material Adverse Effect” to the extent, but only to the extent, of any disproportionate impact on Spectrum and its subsidiaries, taken as a whole, relative to other participants operating in the same
industries and the geographic markets of Spectrum and its subsidiaries, or (ii) would have, or be reasonably likely to have, a material adverse effect on the ability of Spectrum to perform its obligations under the Merger Agreement or to
consummate the Transaction (as defined in the Merger Agreement) prior to August 12, 2010. 
 “Code” shall
mean the Internal Revenue Code of 1986, as amended from time to time. 
 “Collateral” shall mean all the
“Collateral” as defined in any Security Document and shall also include the Mortgaged Properties. 

“Collateral Trust Agreement” shall mean the Collateral Trust Agreement, substantially in the form of Exhibit G,
among the Borrower, the Guarantors, the Administrative Agent, the Senior Secured Notes Indenture Trustee and the Collateral Trustee. 

“Collateral Trustee” shall mean Wells Fargo Bank, National Association, in its capacity as collateral trustee for the
Lenders and other Secured Parties under the Collateral Trust Agreement, including any successor thereto in such capacity. 

“Commitment” shall mean, with respect to any Lender, such Lender’s Term Loan Commitment and Incremental Term Loan
Commitment. 
  

 8 

 “Communications” shall have the meaning assigned to such term in
Section 9.01. 
 “Confidential Information Memorandum” shall mean the Confidential Information Memorandum
of the Borrower dated May 2010. 
 “Consolidated EBITDA” shall mean, for any period, Consolidated Net Income
for such period plus (a) without duplication and to the extent deducted in determining such Consolidated Net Income, the sum of (i) Consolidated Interest Expense for such period, (ii) consolidated income tax expense for such
period, (iii) all amounts attributable to depreciation and amortization for such period, (iv) any non-cash charges (other than the write-down of current assets) for such period, (v) non-recurring losses or expenses (including
severance and relocation costs, restructuring charges, integration costs or reserves), including such items related to, proposed and completed Permitted Acquisitions and Asset Sales and to closure/consolidation of facilities, in an aggregate amount
not to exceed $30,000,000 for such period, (vi) restructuring charges related to the Transactions incurred prior to or within 36 months of the Closing Date, in an aggregate amount not to exceed $30,000,000 and (vii) Transaction Expenses
and minus (b) without duplication (i) all cash payments made during such period on account of reserves, restructuring charges and other non-cash charges added to Consolidated Net Income pursuant to clause (a)(iv) above in a
previous period (unless such cash payments would have been permitted to be added to Consolidated Net Income pursuant to clause (a)(v) or clause (a)(vi) in such period) and (ii) to the extent included in determining such Consolidated Net Income,
any extraordinary gains and all non-cash items of income for such period, all determined on a consolidated basis in accordance with GAAP; provided that for purposes of calculating the Leverage Ratio in connection with determining compliance
with Section 6.04(g), Section 6.05(a)(iv), Section 6.05(b)(iv), Section 6.09(b) and Section 6.12 for any period, (A) the Consolidated EBITDA of any Acquired Entity acquired by the Borrower or any Subsidiary pursuant to
a Permitted Acquisition during such period shall be included on a pro forma basis for such period (assuming the consummation of such acquisition and the incurrence or assumption of any Indebtedness in connection therewith occurred as of the
first day of such period) and (B) the Consolidated EBITDA attributable to any Asset Sale by the Borrower or any Subsidiary during such period shall be excluded for such period (assuming the consummation of such sale or other disposition and the
repayment of any Indebtedness in connection therewith occurred as of the first day of such period). For purposes of determining the Interest Coverage Ratio and the Leverage Ratio, as of or for the periods ended on September 30, 2010 and
January 2, 2011, Consolidated EBITDA will be deemed to be equal to (i) for the fiscal quarter ended January 3, 2010, $117,400,000 and (ii) for the fiscal quarter ended April 4, 2010, $90,600,000. 

 

 9 

 “Consolidated Interest Expense” shall mean, for any period, the sum of
(a) interest expense (including imputed interest expense in respect of Capital Lease Obligations of the Borrower and the Subsidiaries for such period, determined on a consolidated basis in accordance with GAAP plus (b) any interest
accrued during such period in respect of Indebtedness of the Borrower or any Subsidiary that is required to be capitalized rather than included in consolidated interest expense for such period in accordance with GAAP minus (c) interest
income for such period. For purposes of the foregoing, interest expense shall be determined after giving effect to any net payments made or received by the Borrower or any Subsidiary with respect to interest rate Hedging Agreements. For purposes of
determining the Interest Coverage Ratio for the periods ended September 30, 2010, January 2, 2011 and April 3, 2011, Consolidated Interest Expense shall be deemed to be equal to (i) the Consolidated Interest Expense for the
fiscal quarter ended September 30, 2010, multiplied by 4, (ii) the Consolidated Interest Expense for the two consecutive fiscal quarters ended January 2, 2011, multiplied by 2 and (iii) the Consolidated Interest
Expense for the three consecutive fiscal quarters ended April 3, 2011, multiplied by 4/3, respectively. 

“Consolidated Net Income” shall mean, for any period, the net income or loss of the Borrower and the Subsidiaries for
such period determined on a consolidated basis in accordance with GAAP (adjusted to reflect any charge, tax or expense incurred or accrued by Holdings during such period as though such charge, tax or expense had been incurred by the Borrower, to the
extent that the Borrower has made or would be entitled under the Loan Documents to make any payment to or for the account of Holdings in respect thereof); provided that there shall be excluded (a) the income of any Subsidiary (other than
a Subsidiary Guarantor) to the extent that the declaration or payment of dividends or similar distributions by the Subsidiary of that income is not at the time permitted by operation of the terms of its charter or any agreement, instrument,
judgment, decree, statute, rule or governmental regulation applicable to such Subsidiary, (b) the income or loss of any Person accrued prior to the date it becomes a Subsidiary or is merged into or consolidated with the Borrower or any
Subsidiary or the date that such Person’s assets are acquired by the Borrower or any Subsidiary, (c) the income of any Person (other than a Subsidiary) in which any other Person (other than the Borrower or a Wholly Owned Subsidiary or any
director holding qualifying shares in accordance with applicable law) has a joint interest, except to the extent of the amount of dividends or other distributions actually paid to the Borrower or a Wholly Owned Subsidiary by such Person during such
period, and (d) any gains or losses attributable to sales of assets out of the ordinary course of business. 

“Consolidated Net Tangible Assets” shall mean, as of any date, (a) the amount which, in accordance with GAAP, would
be set forth under the caption “Total Assets” (or any like caption) on a consolidated balance sheet of the Borrower and its Subsidiaries, as of the end of the most recently ended fiscal quarter for which internal financial statements are
available, minus (b) the sum of (i) all intangible assets, including, without limitation, goodwill, organization costs, patents, trademarks, copyrights, franchises, and research and development costs and (ii) current
liabilities. 
  

 10 

 “Control” shall mean the possession, directly or indirectly, of the power
to direct or cause the direction of the management or policies of a Person, whether through the ability to exercise voting power, by contract or otherwise, and the terms “Controlling” and “Controlled” shall have
meanings correlative thereto. 
 “Credit Event” shall have the meaning assigned to such term in
Section 4.01. 
 “Default” shall mean any event or condition which upon notice, lapse of time or both
would constitute an Event of Default. 
 “Disqualified Stock” shall mean any Equity Interest that, by its terms
(or by the terms of any security into which it is convertible or for which it is exchangeable), or upon the happening of any event, (a) matures (excluding any maturity as the result of an optional redemption by the issuer thereof) or is
mandatorily redeemable, pursuant to a sinking fund obligation or otherwise, or is redeemable at the option of the holder thereof (other than upon an Asset Sale or Change in Control, if such right is subject to the prior payment in full of the
Obligations), in whole or in part, or requires the payment of any cash dividend or any other scheduled payment constituting a return of capital, in each case at any time on or prior to the first anniversary of the Maturity Date, or (b) is
convertible into or exchangeable (unless at the sole option of the issuer thereof) for (i) debt securities or (ii) any Equity Interest referred to in clause (a) above, in each case at any time prior to the first anniversary of the
Maturity Date. 
 “Dollars” or “$” shall mean lawful money of the United States of America.

 “Domestic Subsidiaries” shall mean all Subsidiaries incorporated or organized under the laws of the United
States of America, any State thereof or the District of Columbia. 
 “Eligible Assignee” means (i) a
Lender, (ii) an Affiliate of a Lender, (iii) a Related Fund of a Lender, (iv) subject to clause (iv) of the proviso to Section 9.04(b), Holdings and the Permitted Investors and (v) any other Person (other than a natural
person) approved by the Administrative Agent; provided that notwithstanding the foregoing, “Eligible Assignee” shall not include any Person identified as an excluded entity to the Lead Arrangers on February 9, 2010
without the prior written consent of the Borrower. 
 “Environmental Laws” shall mean all former, current and
future Federal, state, local and foreign laws (including common law), treaties, regulations, rules, ordinances, codes, decrees, judgments, directives, orders (including consent orders), and agreements in each case, relating to protection of the
environment, 
  

 11 

 
natural resources, human health and safety or the presence, Release of, or exposure to, Hazardous Materials, or the generation, manufacture, processing, distribution, use, treatment, storage,
transport, recycling or handling of, or the arrangement for such activities with respect to, Hazardous Materials. 

“Environmental Liability” shall mean all liabilities, obligations, damages, losses, claims, actions, suits, judgments,
orders, fines, penalties, fees, expenses and costs (including administrative oversight costs, natural resource damages and remediation costs), whether contingent or otherwise, arising out of or relating to (a) compliance or non compliance with
any Environmental Law, (b) the generation, use, handling, transportation, storage, treatment or disposal of any Hazardous Materials, (c) exposure to any Hazardous Materials, (d) the Release of any Hazardous Materials or (e) any
contract, agreement or other consensual arrangement pursuant to which liability is assumed or imposed with respect to any of the foregoing. 

“Equity Interests” shall mean shares of capital stock, partnership interests, membership interests in a limited
liability company, beneficial interests in a trust or other equity interests in any Person, and any option, warrant or other right entitling the holder thereof to purchase or otherwise acquire any such equity interest. 

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

 “ERISA Affiliate” shall mean any trade or business (whether or not incorporated) that, together with the
Borrower, is treated as a single employer under Section 414(b) or (c) of the Code, or solely for purposes of Section 302 of ERISA and Section 412 of the Code, is treated as a single employer under Section 414(m) or
(o) of the Code. 
 “ERISA Event” shall mean (a) any “reportable event”, as defined in
Section 4043 of ERISA or the regulations issued thereunder, with respect to a Plan, (b) the failure to satisfy the minimum funding standard (as defined in Section 412 or 430 of the Code or Section 303 or 304 of ERISA) with
respect to any Plan, whether or not waived, (c) a determination that any Plan is in “at-risk status” or any Multiemployer Plan is in “endangered status” or “critical status” (as each is defined in Section 303
and 305 of ERISA, respectively), (d) the incurrence by the Borrower or any of its ERISA Affiliates of any material liability under Title IV of ERISA with respect to the termination of any Plan or the withdrawal or partial withdrawal of the
Borrower or any of its ERISA Affiliates from any Plan or Multiemployer Plan, (e) the receipt by the Borrower or any of its ERISA Affiliates from the PBGC or a plan administrator of any notice relating to the intention to terminate any Plan or
Plans or to appoint a trustee to administer any Plan, (f) the receipt by the Borrower or any of its ERISA Affiliates of any notice, or the receipt by any Multiemployer Plan from the Borrower or any of its ERISA

  

 12 

 
Affiliates of any notice, concerning the imposition of Withdrawal Liability or a determination that a Multiemployer Plan is, or is expected to be, insolvent or in reorganization, within the
meaning of Title IV of ERISA or (g) the occurrence of a non-exempt “prohibited transaction” with respect to which the Borrower or any of the Subsidiaries is a “disqualified person” (each within the meaning of
Section 4975 of the Code) that results in material liability to the Borrower. 
 “Eurodollar”, when used
in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, are bearing interest at a rate determined by reference to the Adjusted LIBO Rate. 

“Events of Default” shall have the meaning assigned to such term in Article 7. 

“Excess Cash Flow” shall mean, for any fiscal year of the Borrower, the excess of (a) (i) Consolidated EBITDA for
such fiscal year over (b) the sum, without duplication, of (i) the amount of any Taxes payable in cash by the Borrower and the Subsidiaries with respect to such fiscal year, (ii) Consolidated Interest Expense for such fiscal year paid
in cash, (iii) Capital Expenditures and Permitted Acquisitions made in cash in accordance with Section 6.10 or Section 6.05 during such fiscal year and costs and expenses incurred in connection with actual or proposed Permitted
Acquisitions made during such year, except, in each case, to the extent financed with the proceeds of Indebtedness, equity issuances, casualty proceeds, condemnation proceeds or other proceeds that would not be included in Consolidated EBITDA,
(iv) permanent repayments of Indebtedness (other than mandatory prepayments of Loans under Section 2.13 and repayments of Senior Secured Notes) made in cash by the Borrower and the Subsidiaries during such fiscal year, but only to the
extent that the Indebtedness so prepaid by its terms cannot be reborrowed or redrawn and such prepayments do not occur in connection with a refinancing of all or any portion of such Indebtedness and (v) amounts added back to determine
Consolidated EBITDA pursuant to clauses (a)(v) and (a)(vi) of the definition thereof. 
 “Excluded Taxes” shall
mean, with respect to the Administrative Agent, any Lender or any other recipient of any payment to be made by or on account of any obligation of the Borrower hereunder, (a) income or franchise taxes imposed on (or measured by) its net income
by the United States of America, or by the jurisdiction under the laws of which such recipient is organized or in which its principal office is located or, in the case of any Lender, in which its applicable lending office is located, (b) any
branch profits taxes imposed by the United States of America or any similar tax imposed by any other jurisdiction described in clause (a) above, (c) any withholding tax that (i) is imposed on amounts payable to such recipient at the
time such recipient becomes a party to this Agreement (other than, for purposes of this clause (c)(i), an assignee pursuant to a request by the Borrower under Section 2.21(a) and, in such case only to the extent that such assignee receives its
interests, rights and obligations under this 
  

 13 

 
Agreement pursuant to Section 2.21(a)), (ii) is imposed on amounts payable to such recipient at the time such recipient designates a new lending office or (iii) is attributable to
such recipient’s failure or inability (other than as a result of a Change in Law) to comply with Section 2.20(e), except, in cases described in clauses (i) and (ii), to the extent that such recipient (or its assignor, if any) was
entitled, at the time of such assignment or designation of a new lending office, to receive additional amounts from the Borrower with respect to such withholding tax pursuant to Section 2.20(a). 

“Existing Credit Facilities” shall mean the credit facilities of Spectrum, Russell Hobbs and their respective
subsidiaries that are listed on Schedule 1.01(a). 
 “Federal Funds Effective Rate” shall mean, for any
day, the weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers, as published on the next succeeding Business Day by the Federal Reserve Bank of
New York, or, if such rate is not so published for any day that is a Business Day, the average of the quotations for the day for such transactions received by the Administrative Agent from three Federal funds brokers of recognized standing
selected by it. 
 “Fee Letter” shall mean the Fee Letter dated February 9, 2010, among Russell Hobbs, the
Lead Arrangers and certain Affiliates of the Lead Arrangers, including the Administrative Agent. 
 “Fees”
shall mean the fees referred to in Section 2.05(a) and the Prepayment Fee. 
 “Financial Officer” of any
Person shall mean the chief financial officer, principal accounting officer, treasurer or controller of such Person. 

“Foreign Benefit Event” shall mean, with respect to any Foreign Pension Plan, (a) the existence of unfunded
liabilities in excess of the amount permitted under any applicable law, or in excess of the amount that would be permitted absent a waiver from a Governmental Authority, (b) the failure to make the required contributions or payments, under any
applicable law, on or before the due date for such contributions or payments, (c) the receipt of a notice by a Governmental Authority relating to the intention to terminate any such Foreign Pension Plan or to appoint a trustee or similar
official to administer any such Foreign Pension Plan, or alleging the insolvency of any such Foreign Pension Plan, (d) the incurrence of any material liability by Holdings, the Borrower or any Subsidiary under applicable law on account of
either (i) the complete or partial termination of such Foreign Pension Plan or (ii) the complete or partial withdrawal of any participating employer therein, or (e) the occurrence of any transaction that is prohibited under any
applicable law and that could reasonably be expected to result in the incurrence of any material liability by Holdings, the Borrower or any of the Subsidiaries (including by a Governmental Authority’s imposition on Holdings, the Borrower or any
of the Subsidiaries of any fine, excise tax or penalty resulting from any noncompliance with any applicable law. 
  

 14 

 “Foreign Lender” shall mean any Lender that is not a United States person
within the meaning of Section 7701(a)(30) of the Code. 
 “Foreign Pension Plan” shall mean any defined
benefit pension plan that (i) is not subject to United States law and (ii) under applicable law is required to be funded through a trust or other funding vehicle other than a trust or funding vehicle maintained exclusively by a
Governmental Authority. 
 “Foreign Subsidiary” shall mean any Subsidiary that is not a Domestic Subsidiary.

 “GAAP” shall mean United States generally accepted accounting principles applied on a basis consistent with
the financial statements delivered pursuant to Section 4.02(m). 
 “Governmental Authority” shall mean any
Federal, state, local or foreign court or governmental agency, authority, instrumentality or regulatory body. 

“Granting Lender” shall have the meaning assigned to such term in Section 9.04(i). 

“Guarantee” of or by any Person shall mean any obligation, contingent or otherwise, of such Person guaranteeing or
having the economic effect of guaranteeing any Indebtedness or other monetary obligation of any other Person (the “primary obligor”) in any manner, whether directly or indirectly, and including any obligation of such Person, direct
or indirect, (a) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other monetary obligation or to purchase (or to advance or supply funds for the purchase of) any security for the payment of
such Indebtedness or other monetary obligation, (b) to purchase or lease property, securities or services for the purpose of assuring the owner of such Indebtedness or other monetary obligation of the payment of such Indebtedness or other
monetary obligation or (c) to maintain working capital, equity capital or any other financial statement condition or liquidity of the primary obligor so as to enable the primary obligor to pay such Indebtedness or other monetary obligation;
provided, however, that the term “Guarantee” shall not include endorsements for collection or deposit in the ordinary course of business. 

“Guaranteed Parties” shall have the meaning assigned to such term in the Holdings Guaranty and the Subsidiary Guaranty.

 “Guarantors” shall mean Holdings and the Subsidiary Guarantors. 

 

 15 

 “Hazardous Materials” shall mean (a) any petroleum products or
byproducts and all other hydrocarbons, coal ash, radon gas, asbestos, urea formaldehyde foam insulation, polychlorinated biphenyls, chlorofluorocarbons and all other ozone-depleting substances and (b) any chemical, material, substance or waste
that is prohibited, limited or regulated by or pursuant to any Environmental Law. 
 “Hedging Agreement” shall
mean any interest rate protection agreement, foreign currency exchange agreement, commodity price protection agreement or other interest or currency exchange rate or commodity price hedging arrangement, excluding spot foreign exchange transactions.

 “Holdings” shall have the meaning assigned to such term in the introductory statement hereto. 

“Holdings Guaranty” shall mean the guaranty made by Holdings in favor of the Guaranteed Parties, substantially in the
form of Exhibit E-1. 
 “Inactive Subsidiary” shall mean any Subsidiary that (a) does not conduct any
business operations, (b) when taken together with all other Subsidiaries so designated, does not have assets with a fair market value in the aggregate in excess of 1.50% of the Consolidated Net Tangible Assets and (c) does not have any
Indebtedness outstanding. 
 “Incremental Revolving Commitments” shall mean the Incremental Commitments (as
defined in the ABL Credit Agreement). 
 “Incremental Term Borrowing” shall mean a Borrowing comprised of
Incremental Term Loans. 
 “Incremental Term Lender” shall mean a Lender with an Incremental Term Loan
Commitment or an outstanding Incremental Term Loan. 
 “Incremental Term Loan Amount” shall mean, at any time,
the excess, if any, of (a) $100,000,000 over (b) the sum of (x) the aggregate amount of all Incremental Term Loan Commitments established prior to such time pursuant to Section 2.22 and (y) the aggregate amount of
Incremental Revolving Commitments established prior to such time. 
 “Incremental Term Loan Assumption
Agreement” shall mean an Incremental Term Loan Assumption Agreement among, and in form and substance reasonably satisfactory to, the Borrower, the Administrative Agent and one or more Incremental Term Lenders. 

 

 16 

 “Incremental Term Loan Commitment” shall mean the commitment of any Lender,
established pursuant to Section 2.22, to make Incremental Term Loans to the Borrower. 
 “Incremental Term Loan
Maturity Date” shall mean the final maturity date of any Incremental Term Loan, as set forth in the applicable Incremental Term Loan Assumption Agreement. 

“Incremental Term Loan Repayment Dates” shall mean the dates scheduled for the repayment of principal of any Incremental
Term Loan, as set forth in the applicable Incremental Term Loan Assumption Agreement. 
 “Incremental Term
Loans” shall mean Loans made by one or more Lenders to the Borrower pursuant to Section 2.01(b). Incremental Term Loans may be made in the form of additional Term Loans or, to the extent permitted by Section 2.22 and provided for
in the relevant Incremental Term Loan Assumption Agreement, Other Term Loans. 
 “Indebtedness” of any Person
shall mean, without duplication, (a) all obligations of such Person for borrowed money, (b) all obligations of such Person evidenced by bonds, debentures, notes or similar instruments, (c) all obligations of such Person upon which
interest charges are customarily paid, (d) all obligations of such Person under conditional sale or other title retention agreements relating to property or assets purchased by such Person, (e) all obligations of such Person issued or
assumed as the deferred purchase price of property or services (excluding (i) trade accounts payable and accrued obligations incurred in the ordinary course of business, (ii) any earn-out obligation until such obligation becomes a
liability on the balance sheet of such Person in accordance with GAAP and, if not paid, after becoming due and payable, (iii) purchase price holdbacks in respect of a portion of the purchase price of an asset to satisfy warranty or other
unperformed obligation of the applicable seller and (iv) any Indebtedness defeased by such Person or by any subsidiary of such Person), (f) all Indebtedness of others secured by (or for which the holder of such Indebtedness has an existing
right, contingent or otherwise, to be secured by) any Lien on property owned or acquired by such Person, whether or not the obligations secured thereby have been assumed, (g) all Guarantees by such Person of Indebtedness of others, (h) all
Capital Lease Obligations of such Person, (i) all Synthetic Lease Obligations of such Person, (j) net obligations of such Person under any Hedging Agreements, valued at the Agreement Value thereof, (k) all obligations of such Person
in respect of Disqualified Stock of such Person or any other Person, (l) all obligations of such Person as an account party in respect of letters of credit and (m) all obligations of such Person in respect of bankers’ acceptances. The
Indebtedness of any Person shall include the Indebtedness of any partnership in which such Person is a general partner, other than to the extent that the instrument or agreement evidencing such Indebtedness expressly limits the liability of such
Person in respect thereof. The amount of Indebtedness of any 
  

 17 

 
Person for purposes of clause (f) shall be deemed to be equal to the lesser of (A) the aggregate unpaid amount of such Indebtedness and (B) the fair market value of the property
encumbered thereby as determined by such Person in good faith. 
 “Indemnified Taxes” shall mean Taxes other
than Excluded Taxes and Other Taxes. 
 “Indemnitee” shall have the meaning assigned to such term in
Section 9.05(b). 
 “Information” shall have the meaning assigned to such term in Section 9.16.

 “Intercreditor Agreements” shall mean, collectively, the ABL Intercreditor Agreement and the Collateral
Trust Agreement. 
 “Interest Coverage Ratio” shall mean, for any period, the ratio of (a) Consolidated
EBITDA for such period to (b) Consolidated Interest Expense for such period. 
 “Interest Payment Date”
shall mean (a) with respect to any ABR Term Loan, the last Business Day of each March, June, September and December, and (b) with respect to any Eurodollar Term Loan, the last day of the Interest Period applicable to the Borrowing of
which such Term Loan is a part and, in the case of a Eurodollar Borrowing with an Interest Period of more than three months’ duration, each day that would have been an Interest Payment Date had successive Interest Periods of three months’
duration been applicable to such Borrowing. 
 “Interest Period” shall mean, with respect to any Eurodollar
Borrowing, the period commencing on the date of such Borrowing and ending on the numerically corresponding day (or, if there is no numerically corresponding day, on the last day) in the calendar month that is 1, 2, 3, 6, or if available to all
Lenders, 9 or 12 months thereafter, as the Borrower may elect; provided, however, that (a) if any Interest Period would end on a day other than a Business Day, such Interest Period shall be extended to the next succeeding Business Day
unless such next succeeding Business Day would fall in the next calendar month, in which case such Interest Period shall end on the next preceding Business Day, (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 end on the last Business Day of the calendar month at the end of such Interest Period and (c) no Interest Period
for any Loan shall extend beyond the maturity date of such Loan. Interest shall accrue from and including the first day of an Interest Period to but excluding the last day of such Interest Period. For purposes hereof, the date of a Borrowing
initially shall be the date on which such Borrowing is made and thereafter shall be the effective date of the most recent conversion or continuation of such Borrowing. 
  

 18 

 “IRS” shall mean the U.S. Internal Revenue Service or any successor agency
thereto. 
 “Lead Arrangers” shall mean Credit Suisse Securities (USA) LLC, Banc of America Securities LLC and
Deutsche Bank Securities Inc., in their capacity as joint bookrunners and joint lead arrangers in respect of the Term Facility. 

“Lenders” shall mean (a) the Persons listed on Schedule 2.01 (other than any such Person that has ceased to be
a party hereto pursuant to an Assignment and Acceptance) and (b) any Person that has become a party hereto pursuant to an Assignment and Acceptance or an Incremental Term Loan Assumption Agreement. 

“Leverage Ratio” shall mean, on any date, the ratio of (a) an amount equal to the excess of (i) Total Debt on
such date over (ii) the lesser of (A) $50,000,000 and (B) the aggregate amount of unrestricted cash and Permitted Investments that are included in the consolidated balance sheet of the Borrower and its Subsidiaries as of such
date to (b) Consolidated EBITDA for the period of four consecutive fiscal quarters most recently ended on or prior to such date. 

“LIBO Rate” shall mean, with respect to any Eurodollar Borrowing for any Interest Period, the rate per annum determined
by the Administrative Agent at approximately 11:00 a.m. (London time) on the date that is two Business Days prior to the commencement of such Interest Period by reference to the British Bankers’ Association Interest Settlement Rates for
deposits in Dollars (as set forth by any service selected by the Administrative Agent that has been nominated by the British Bankers’ Association as an authorized information vendor for the purpose of displaying such rates) for a period equal
to such Interest Period; provided that, to the extent that an interest rate is not ascertainable pursuant to the foregoing provisions of this definition, the “LIBO Rate” shall be the interest rate per annum determined by the
Administrative Agent to be the average of the rates per annum at which deposits in Dollars are offered for such relevant Interest Period to major banks in the London interbank market in London, England by the Administrative Agent at approximately
11:00 a.m. (London time) on the date that is two Business Days prior to the beginning of such Interest Period. 

“Lien” shall mean, with respect to any asset, (a) any mortgage, deed of trust, lien, pledge, encumbrance, charge or
security interest in or on such asset, (b) the interest of a vendor or a lessor under any conditional sale agreement, capital lease or title retention agreement (or any financing lease having substantially the same economic effect as any of the
foregoing) relating to such asset and (c) in the case of securities, any purchase option, call or similar right of a third party with respect to such securities. 

 

 19 

 “Loan Documents” shall mean this Agreement, the Holdings Guaranty, the
Subsidiary Guaranty, the Security Documents, each Incremental Term Loan Assumption Agreement, the promissory notes, if any, executed and delivered pursuant to Section 2.04(e) and any other document executed in connection with the foregoing.

 “Loan Parties” shall mean Holdings, the Borrower and the Subsidiary Guarantors. 

“Loans” shall mean Term Loans and Other Term Loans. 

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

“Material Adverse Effect” shall mean (a) a materially adverse effect on the business, assets, liabilities,
operations, financial condition or operating results of the Borrower and the Subsidiaries, taken as a whole, (b) a material impairment of the ability of the Borrower or any other Loan Party to perform any of its obligations under any Loan
Document to which it is or will be a party or (c) a material impairment of the rights and remedies of or benefits available to the Lenders under any Loan Document. 

“Material Indebtedness” shall mean Indebtedness (other than the Loans), or obligations in respect of one or more Hedging
Agreements, of any one or more of Holdings, the Borrower or any Subsidiary in an aggregate principal amount exceeding $25,000,000. For purposes of determining Material Indebtedness, the “principal amount” of the obligations of Holdings,
the Borrower or any Subsidiary in respect of any Hedging Agreement at any time shall be the Agreement Value of such Hedging Agreement at such time. 

“Material Owned Real Property” shall have the meaning assigned to such term in Section 3.20(a). 

“Material Lease” shall have the meaning assigned to such term in Section 3.20(b). 

“Maturity Date” shall mean June 16, 2016. 

“Maximum Rate” shall have the meaning assigned to such term in Section 9.09. 

“Merger Agreement” shall have the meaning assigned to such term in the preliminary statements hereto. 

“Moody’s” shall mean Moody’s Investors Service, Inc., or any successor thereto. 

“Mortgaged Properties” shall mean, initially, the owned real properties of the Loan Parties specified on Schedule
1.01(b), and shall include each other parcel of owned real property and improvements thereto with respect to which a Mortgage is granted pursuant to Section 5.12. 
  

 20 

 “Mortgages” shall mean the mortgages, deeds of trust, assignments of leases
and rents, modifications and other security documents delivered pursuant to clause (i) of Section 4.02(g) or pursuant to Section 5.12, each substantially in the form of Exhibit F. 

“Multiemployer Plan” shall mean a multiemployer plan as defined in Section 4001(a)(3) of ERISA to which the
Borrower or any ERISA Affiliate currently makes or is obligated to make contributions or to which the Borrower or any ERISA Affiliate has made or was obligated, within the preceding five years, to make contributions. 

“Net Cash Proceeds” shall mean (a) with respect to any Asset Sale, the cash proceeds (including (x) cash
proceeds subsequently received (as and when received) in respect of noncash consideration initially received, (y) in the case of a casualty, insurance proceeds and (z) in the case of a condemnation or similar event, condemnation awards and
similar payments), net of (i) selling expenses (including reasonable broker’s fees or commissions, legal fees, transfer and similar taxes and the Borrower’s good faith estimate of income taxes paid or payable in connection with such
sale), (ii) amounts provided as a reserve, in accordance with GAAP, against any liabilities under any indemnification obligations or purchase price adjustment associated with such Asset Sale (provided that, to the extent and at the time
any such amounts are released from such reserve, such amounts shall constitute Net Cash Proceeds) and (iii) the principal amount, premium or penalty, if any, interest and other amounts on any Indebtedness for borrowed money which is secured by
the asset sold in such Asset Sale and which is required to be repaid with such proceeds (other than (x) any such Indebtedness assumed by the purchaser of such asset, (y) Indebtedness under the Loan Documents and (z) Indebtedness under
the Senior Secured Note Documents); provided, however, that, if (A) the Borrower shall deliver a certificate of a Financial Officer to the Administrative Agent at the time of receipt thereof setting forth the Borrower’s intent to
reinvest such proceeds in productive assets of a kind then used or usable in the business of the Borrower and the Subsidiaries within the time period specified in this definition, (B) pending reinvestment, such proceeds in respect of Term/Notes
Priority Collateral (as defined in the ABL Intercreditor Agreement) in excess of $20,000,000 shall be segregated from the other funds of the Borrower and its Subsidiaries in a deposit account subject to a control agreement in favor of the Collateral
Trustee and (C) no Default or Event of Default shall have occurred and shall be continuing at the time of such certificate or at the proposed time of the application of such proceeds, such proceeds shall not constitute Net Cash Proceeds except
to the extent not so used (1) within 365 days following the receipt of such proceeds, at which time such proceeds shall be deemed to be Net Cash Proceeds or (2) if the Borrower or the relevant Subsidiary enters into a

  

 21 

 
legally binding commitment to reinvest such Net Cash Proceeds within 365 days following the receipt thereof, within 180 days following the date of such legally binding commitment; (b) with
respect to any issuance or incurrence of Indebtedness, the cash proceeds thereof, net of all taxes and customary fees, commissions, costs and other expenses incurred in connection therewith; and (c) with respect to any Purchase Price
Adjustment, the cash proceeds received by or paid to or for the account of Super Holdco. 
 “Obligations” shall
mean all obligations defined as “Term Loan Obligations” in the Security Agreement. 
 “OFAC” shall
have the meaning assigned to such term in Section 3.25. 
 “OID” shall have the meaning assigned to such
term in Section 2.22(b). 
 “Other Taxes” shall mean any and all present or future stamp or documentary
taxes or any other excise or property taxes, charges or similar levies arising from any payment made under any Loan Document or from the execution, delivery or enforcement of, or otherwise with respect to, any Loan Document. 

“Other Term Loans” shall have the meaning assigned to such term in Section 2.22(a). 

“PBGC” shall mean the Pension Benefit Guaranty Corporation referred to and defined in ERISA. 

“Perfection Certificate” shall mean the Perfection Certificate substantially in the form of Exhibit B to the
Security Agreement. 
 “Permitted Acquisition” shall have the meaning assigned to such term in
Section 6.05(a)(iv). 
 “Permitted Incremental Revolving Commitment Amount” shall mean, at any time, an
amount equal to the excess of $100,000,000 over the aggregate amount of all Incremental Term Loan Commitments established prior to such time pursuant to Section 2.22. 

“Permitted Investments” shall mean: 

(a) direct obligations of, or obligations the principal of and interest on which are unconditionally guaranteed by, the United States of
America (or by any agency thereof to the extent such obligations are backed by the full faith and credit of the United States of America), in each case maturing within one year from the date of issuance thereof; 

 

 22 

 (b) investments in commercial paper maturing within 270 days from the date of issuance
thereof and having, at such date of acquisition, the highest credit rating obtainable from S&P or from Moody’s; 
 (c)
investments in certificates of deposit, banker’s acceptances and time deposits maturing within one year from the date of acquisition thereof issued or guaranteed by or placed with, and money market deposit accounts issued or offered by, the
Administrative Agent or any domestic office of any commercial bank organized under the laws of the United States of America or any State thereof that has a combined capital and surplus and undivided profits of not less than $500,000,000 and that
issues (or the parent of which issues) commercial paper rated at least “Prime 1” (or the then equivalent grade) by Moody’s or “A 1” (or the then equivalent grade) by S&P; 

(d) fully collateralized repurchase agreements with a term of not more than 30 days for securities described in clause (a) above and
entered into with a financial institution satisfying the criteria of clause (c) above; 
 (e) investments in “money
market funds” within the meaning of Rule 2a-7 of the Investment Company Act of 1940, as amended, substantially all of whose assets are invested in investments of the type described in clauses (a) through (d) above; and 

(f) other short-term investments utilized by Foreign Subsidiaries in accordance with normal investment practices for cash management in
investments of a type analogous to the foregoing. 
 “Permitted Investors” shall mean: 

(a) each of Harbinger Capital Partners Master Fund I, Ltd., Harbinger Capital Partners Special Situations Fund, L.P. and Global
Opportunities Breakaway Ltd; 
 (b) any Affiliate or Related Party of any Person specified in clause (a), other than another
portfolio company thereof (which means a company actively engaged in providing goods and services to unaffiliated customers) or a company controlled by a “portfolio company”; and 

(c) any Person both the Equity Interests of such Person and the aggregate ordinary voting power represented by the issued and outstanding
Equity Interests of such Person of which (or in the case of a trust, the beneficial interests in which) are owned 50% or more by Persons specified in clauses (a) and (b). 

 

 23 

 “Permitted Refinancing” shall mean, with respect to any Indebtedness of any
Person, any refinancing, refunding, renewal or extension of such Indebtedness of such Person to the extent the principal amount of such Indebtedness is not increased (other than to finance accrued interest thereon, any premium payable in respect
thereof and cost and expense incurred therewith), neither the final maturity nor the weighted average life to maturity of such Indebtedness is decreased, such Indebtedness, if subordinated to the Obligations, remains so subordinated on terms no less
favorable to the Lenders, and the obligors in respect of such Indebtedness remain the only obligors thereon except that Holdings may guarantee such refinancing Indebtedness on an unsecured basis. 

“Permitted Specified Refinancing” shall mean, with respect to the Subordinated Notes, any refinancing, refunding,
renewal or extension of such Indebtedness to the extent the principal amount of such Indebtedness is not increased (other than to finance accrued interest thereon, any premium payable in respect thereof and cost and expense incurred therewith),
neither the final maturity nor the weighted average life to maturity of such Indebtedness is decreased, such Indebtedness constitutes senior unsecured Indebtedness of the obligor, and the obligors in respect of such Indebtedness remain the only
obligors thereon except that Holdings may guarantee such refinancing Indebtedness on an unsecured basis. 

“Person” shall mean any natural person, corporation, business trust, joint venture, association, company, limited
liability company, partnership, Governmental Authority or other entity. 
 “Plan” shall mean any employee
pension benefit plan (other than a Multiemployer Plan) subject to the provisions of Title IV of ERISA or Section 412 of the Code or Section 307 of ERISA, and in respect of which the Borrower or any ERISA Affiliate is (or, if such plan were
terminated, would under Section 4069 of ERISA be deemed to be) an “employer” as defined in Section 3(5) of ERISA. 

“Platform” shall have the meaning assigned to such term in Section 9.01. 

“Prepayment Fee” shall have the meaning assigned to such term in Section 2.05(b). 

“Prime Rate” shall mean the rate of interest per annum determined from time to time by Credit Suisse AG as its prime
rate in effect at its principal office in New York City and notified to the Borrower. The prime rate is a rate set by Credit Suisse AG based upon various factors including Credit Suisse AG’s costs and desired return, general economic
conditions and other factors, and is used as a reference point for pricing some loans, which may be priced at, above, or below such rate. 

“Public Lender” shall have the meaning assigned to such term in Section 9.01. 

 

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 “Purchase Price Adjustment” shall have the meaning assigned to such term in
Section 2.13(d). 
 “Qualified Capital Stock” of any Person shall mean any Equity Interest of such Person
that is not Disqualified Stock. 
 “Register” shall have the meaning assigned to such term in
Section 9.04(d). 
 “Regulation T” shall mean Regulation T of the Board as from time to time in effect and
all official rulings and interpretations thereunder or thereof. 
 “Regulation U” shall mean Regulation U of
the Board as from time to time in effect and all official rulings and interpretations thereunder or thereof. 

“Regulation X” shall mean Regulation X of the Board as from time to time in effect and all official rulings and
interpretations thereunder or thereof. 
 “Related Fund” shall mean, with respect to any Lender that is a fund
or commingled investment vehicle that invests in bank loans, any other fund that invests in bank loans and is managed or advised by the same investment advisor as such Lender or by an Affiliate of such investment advisor. 

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

“Release” shall mean any release, spill, emission, leaking, dumping, injection, pouring, deposit, disposal, discharge,
dispersal, leaching or migration into or through the environment or within or upon any building, structure, facility or fixture. 

“Repayment Date” shall have the meaning assigned to such term in Section 2.11(a). 

“Required Lenders” shall mean, at any time, Lenders having Loans and unused Term Loan Commitments and Incremental Term
Loan Commitments representing more than 50% of the sum of all Loans outstanding and unused Term Loan Commitments and Incremental Term Loan Commitments at such time; provided, however, that any Loans or Commitments held by Holdings or the
Permitted Investors in their capacity as Lenders shall be disregarded in the determination of the Required Lenders at any time. 

“Responsible Officer” of any Person shall mean any executive officer or Financial Officer of such Person and any other
officer or similar official thereof responsible for the administration of the obligations of such Person in respect of this Agreement. 
  

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 “Restricted Indebtedness” shall mean Indebtedness of Holdings, the Borrower
or any Subsidiary, the payment, prepayment, repurchase or defeasance of which is restricted under Section 6.09(b). 

“Restricted Payment” shall mean any dividend or other distribution (whether in cash, securities or other property) with
respect to any Equity Interests in Holdings, the Borrower or any Subsidiary, or any payment (whether in cash, securities or other property), including any sinking fund or similar deposit, on account of the purchase, redemption, retirement,
acquisition, cancellation or termination of any Equity Interests in Holdings, the Borrower or any Subsidiary. 

“Russell Hobbs” shall have the meaning assigned to such term in the preliminary statements hereto. 

“S&P” shall mean Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc., or
any successor thereto. 
 “SEC” means the Securities and Exchange Commission, and any successor agency thereto.

 “Secured Leverage Ratio” shall mean, on any date, the ratio of (a) an amount equal to the excess of
(i) Total Debt that is secured by a Lien on any asset of the Borrower or any of its Subsidiaries on such date over (ii) the lesser of (A) $50,000,000 and (B) the aggregate amount of unrestricted cash and Permitted Investments
that are included in the consolidated balance sheet of the Borrower and its Subsidiaries as of such date to (b) Consolidated EBITDA for the period of four consecutive fiscal quarters most recently ended on or prior to such date. 

“Secured Parties” shall have the meaning assigned to the term “Secured Parties” in the Collateral Trust
Agreement. 
 “Securities Laws” means the Securities Act of 1933, the Securities Exchange Act of 1934, the
Sarbanes-Oxley Act of 2002 and, in each case, the rules and regulations of the SEC promulgated thereunder, and the applicable accounting and auditing principles, rules, standards and practices promulgated, approved or incorporated by the SEC or the
Public Company Accounting Oversight Board, as each of the foregoing may be amended and in effect on any applicable date under this Agreement. 

“Security Agreement” shall mean the Security Agreement, substantially in the form of Exhibit D, among the Borrower,
the Guarantors and the Collateral Trustee for the benefit of the Secured Parties, together with each other security agreement and security agreement supplement pursuant to Section 5.12. 

 

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 “Security Documents” shall mean the Mortgages, the Security Agreement, the
Collateral Trust Agreement, the ABL Intercreditor Agreement and each of the security agreements, mortgages and other instruments and documents executed and delivered pursuant to any of the foregoing or pursuant to Section 5.12. 

“Senior Secured Note Documents” shall mean the Senior Secured Note Indenture and all other instruments, agreements and
other documents evidencing or governing the Senior Secured Notes or providing for any Guarantee or other right in respect thereof. 

“Senior Secured Note Indenture” shall mean that certain Indenture dated as of June 16, 2010, among Spectrum, as
issuer, the guarantors party thereto and US Bank, National Association, as trustee. 
 “Senior Secured Note Indenture
Trustee” shall mean the trustee under the Senior Secured Note Indenture. 
 “Senior Secured Notes”
shall mean Spectrum’s 9.50% Senior Secured Notes due 2018 issued pursuant to the Senior Secured Note Indenture. 

“Solvent” shall mean, with respect to any Person, at any date, that (a) the fair value of the assets of such
Person, at a fair valuation, will exceed its debts and liabilities, subordinated, contingent or otherwise; (b) the present fair saleable value of the property of such Person will be greater than the amount that will be required to pay the
probable liability of its debts and other liabilities, subordinated, contingent or otherwise, as such debts and other liabilities become absolute and matured; (c) such Person will be able to pay its debts and liabilities, subordinated,
contingent or otherwise, as such debts and liabilities become absolute and matured; and (d) such Person will not have unreasonably small capital with which to conduct the business in which it is engaged as such business is conducted on such
date and is proposed to be conducted following such date. 
 “SPV” shall have the meaning assigned to such term
in Section 9.04(i). 
 “Statutory Reserves” shall mean a fraction (expressed as a decimal), the numerator
of which is the number one and the denominator of which is the number one minus the aggregate of the maximum reserve percentages (including any marginal, special, emergency or supplemental reserves) expressed as a decimal established by the Board
and any other banking authority, domestic or foreign, to which the Administrative Agent or any Lender (including any branch, Affiliate or other fronting office making or holding a Loan) is subject for Eurocurrency Liabilities (as defined in
Regulation D of the Board). Eurodollar Term Loans shall be deemed to constitute Eurocurrency Liabilities (as defined in Regulation D of the Board) and to be subject to such reserve requirements without benefit of or credit for proration, exemptions
or offsets that may be available from time to time to any Lender under such Regulation D. Statutory Reserves shall be adjusted automatically on and as of the effective date of any change in any reserve percentage. 

 

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 “Subordinated Note Documents” shall mean the indenture under which the
Subordinated Notes are issued and all other instruments, agreements and other documents evidencing or governing the Subordinated Notes or providing for any Guarantee or other right in respect thereof. 

“Subordinated Notes” shall mean Spectrum’s 12% Senior Subordinated Toggle Notes due 2019. 

“subsidiary” shall mean, with respect to any Person (herein referred to as the “parent”), any
corporation, partnership, limited liability company, association or other business entity of which securities or other ownership interests representing more than 50% of the equity or more than 50% of the ordinary voting power or more than 50% of the
general partnership interests are, at the time any determination is being made, directly or indirectly, owned, Controlled or held by such Person. 

“Subsidiary” shall mean any subsidiary of the Borrower. 

“Subsidiary Guarantor” shall mean each Subsidiary listed on Schedule 1.01(c), and each other Subsidiary that is or
becomes a party to the Subsidiary Guaranty. 
 “Subsidiary Guaranty” shall mean the guaranty made by the
Subsidiary Guarantors in favor of the Guaranteed Parties, substantially in the form of Exhibit E-2, together with each other guaranty and guaranty supplement delivered pursuant to Section 5.12. 

“Super Holdco” shall have the meaning assigned to such term in the preliminary statements hereto. 

“Synthetic Lease” shall mean, as to any Person, any lease (including leases that may be terminated by the lessee at any
time) of any property (whether real, personal or mixed) (a) that is accounted for as an operating lease under GAAP and (b) in respect of which the lessee retains or obtains ownership of the property so leased for U.S. federal income tax
purposes, other than any such lease under which such Person is the lessor. 
 “Synthetic Lease Obligations”
shall mean, as to any Person, an amount equal to the capitalized amount of the remaining lease payments under any Synthetic Lease that would appear on a balance sheet of such person in accordance with GAAP if such obligations were accounted for as
Capital Lease Obligations. 
  

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 “Synthetic Purchase Agreement” shall mean any swap, derivative or other
agreement or combination of agreements pursuant to which Holdings, the Borrower or any Subsidiary is or may become obligated to make (a) any payment in connection with a purchase by any third party from a Person other than Holdings, the
Borrower or any Subsidiary of any Equity Interest or Restricted Indebtedness or (b) any payment (other than on account of a permitted purchase by it of any Equity Interest or Restricted Indebtedness) the amount of which is determined by
reference to the price or value at any time of any Equity Interest or Restricted Indebtedness; provided that no phantom stock or other equity-based plan providing for payments only to current or former directors, officers, consultants,
advisors or employees of Holdings, the Borrower, the Subsidiaries or their respective Affiliates (or to their heirs or estates) shall be deemed to be a Synthetic Purchase Agreement. 

“Taxes” shall mean any and all present or future taxes, levies, imposts, duties, deductions, charges or withholdings
imposed by any Governmental Authority. 
 “Term Borrowing” shall mean a Borrowing comprised of Term Loans.

 “Term Facility” shall mean the term loan facility provided for by this Agreement. 

“Term Loan Commitment” shall mean, with respect to each Lender, the commitment of such Lender to make Term Loans
hereunder as set forth on Schedule 2.01, or in the Assignment and Acceptance pursuant to which such Lender assumed its Term Loan Commitment, as applicable, as the same may be (a) reduced from time to time pursuant to Section 2.09 and
(b) reduced or increased from time to time pursuant to assignments by or to such Lender pursuant to Section 9.04. Unless the context shall otherwise require, the term “Term Loan Commitments” shall include the Incremental
Term Loan Commitments. 
 “Term Loan Repayment Dates” shall mean the Repayment Dates and the Incremental Term
Loan Repayment Dates. 
 “Term Loans” shall mean the term loans made by the Lenders to the Borrower pursuant to
Section 2.01(a). Unless the context shall otherwise require, the term “Term Loans” shall include any Incremental Term Loans. 

“Total Debt” shall mean, at any time, the total Indebtedness of the Borrower and the Subsidiaries at such time
(excluding (1) Indebtedness of the type described in clause (i), clause (j), clause (k), clause (l) and clause (m) of the definition of such term, except, in the case of such clause (j), to the extent any Hedging Agreement has been
terminated and the obligations thereunder have not been settled, in the case of such clause (k), to the extent the specified payment 

 

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obligations in respect of such Equity Interests are then due and payable and, in the case of such clauses (l) and clause (m), to the extent of any unreimbursed drawings thereunder and
(2) Guarantees if the guaranteed Indebtedness is already included). 
 “Transaction Expenses” shall
mean fees and expenses payable or otherwise borne by the Borrower and its Subsidiaries in connection with the Transactions and incurred before, or on or about, the Closing Date, including the costs of legal and financial advisors to the Borrower and
the agents or trustees under this Agreement, the ABL Credit Agreement and the Senior Secured Note Indenture and prepayment fees and penalties in connection with the prepayment of the existing Indebtedness of the Borrower and its Subsidiaries on or
about the Closing Date. 
 “Transactions” shall mean, collectively, (a) the execution, delivery and
performance by the Borrower of the Merger Agreement and the consummation of the transactions contemplated thereby, including the Acquisition, (b) the execution, delivery and performance by the Loan Parties of the Loan Documents to which they
are a party and the making of the Borrowings hereunder, (c) the execution, delivery and performance by Holdings, the Borrower and the Subsidiaries party thereto of the Senior Secured Note Documents and the issuance of the Senior Secured Notes,
(d) the execution, delivery and performance by Holdings, the Borrower and the Subsidiaries party thereto of the ABL Documents to which they are party, (e) the repayment of all amounts due or outstanding under or in respect of, and the
termination of, the Existing Credit Facilities and (f) the payment of related fees and expenses. 

“Type”, when used in respect of any Loan or Borrowing, shall refer to the Rate by reference to which interest on such
Loan or on the Loans comprising such Borrowing is determined. For purposes hereof, the term “Rate” shall mean the Adjusted LIBO Rate and the Alternate Base Rate. 

“Uniform Customs” shall have the meaning assigned to such term in Section 9.07. 

“United States Tax Compliance Certificate” shall have the meaning assigned to such term in Section 2.20(e)(iii).

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

“Wholly Owned Subsidiary” of any Person shall mean a subsidiary of such Person of which securities (except for
directors’ qualifying shares) or other ownership interests representing 100% of the Equity Interests are, at the time any determination is being made, owned, Controlled or held by such Person or one or more wholly owned Subsidiaries of such
Person or by such Person and one or more wholly owned Subsidiaries of such Person. 
  

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

“Yield Differential” shall have the meaning assigned to such term in Section 2.22(b). 

Section 1.02. Terms Generally. The definitions in Section 1.01 shall apply equally to both the singular and plural forms
of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include”, “includes” and “including” shall be deemed to be followed by
the phrase “without limitation”. The word “will” shall be construed to have the same meaning and effect as the word “shall”; 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. All references herein to Articles, Sections, Exhibits and Schedules shall be deemed
references to Articles and Sections of, and Exhibits and Schedules to, this Agreement unless the context shall otherwise require. Except as otherwise expressly provided herein, (a) any reference in this Agreement to any Loan Document, any ABL
Loan Document or any Senior Secured Note Document shall mean such document as amended, restated, supplemented or otherwise modified from time to time, in each case, in accordance with the express terms of this Agreement and the other Loan Documents,
and (b) all terms of an accounting or financial nature shall be construed in accordance with GAAP, as in effect from time to time; provided, however, that if the Borrower notifies the Administrative Agent that the Borrower wishes to
amend any covenant in Article 6 or any related definition to eliminate the effect of any change in GAAP occurring after the date of this Agreement on the operation of such covenant (or if the Administrative Agent notifies the Borrower that the
Required Lenders wish to amend Article 6 or any related definition for such purpose), then the Borrower’s compliance with such covenant shall be determined on the basis of GAAP in effect immediately before the relevant change in GAAP became
effective, until either such notice is withdrawn or such covenant is amended in a manner satisfactory to the Borrower and the Required Lenders. 

Section 1.03. Pro Forma Calculations. All pro forma calculations permitted or required to be made by the Borrower or
any Subsidiary pursuant to this Agreement (other than for purposes of Section 4.02(q)) shall include only those adjustments that would be (a) permitted or required by Regulation S-X under the Securities Act of 1933, as amended, together
with those adjustments 
  

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that (i) have been certified by a Financial Officer of the Borrower as having been prepared in good faith based upon reasonable assumptions and (ii) are based on reasonably detailed
written assumptions and (b) required by the definition of Consolidated EBITDA. 
 Section 1.04. Classification of
Loans and Borrowings. For purposes of this Agreement, Loans may be classified and referred to by Class (e.g., an “Other Term Loan”) or by Type (e.g., a “Eurodollar Term Loan”) or by Class and Type
(e.g., a “Eurodollar Other Term Loan”). Borrowings also may be classified and referred to by Type (e.g., a “Eurodollar Borrowing”). 

Section 1.05. Designation as Senior Debt. The Loans and other Obligations are hereby designated as “Senior
Debt” for all purposes of the Subordinated Note Documents. 
 Section 1.06. Currency Equivalents Generally.
Unless otherwise set forth herein, any amount specified in this agreement in Dollars shall include the Equivalent in Dollars of such amount in any foreign currency and if any amount described in this Agreement is comprised of amounts in Dollars
and amounts in one or more foreign currencies, the Equivalent in Dollars of such foreign currency amounts shall be used to determine the total. For purposes of this Section 1.06, “Equivalent” in Dollars of any foreign currency
on any date means the equivalent in Dollars of such foreign currency by using the applicable spot rate set forth on the Bloomberg Cross Currency Rates Page for such currency. 

ARTICLE 2 

THE CREDITS 

Section 2.01. Commitments. (a) Subject to the terms and conditions and relying upon the representations and
warranties herein set forth, each Lender agrees, severally and not jointly, to make a Term Loan to the Borrower on the Closing Date in a principal amount not to exceed its Term Loan Commitment. Amounts paid or prepaid in respect of Term Loans may
not be reborrowed. 
 (a) Each Lender having an Incremental Term Loan Commitment pursuant to Section 2.22, severally and
not jointly, hereby agrees, subject to the terms and conditions and relying upon the representations and warranties set forth herein and in the applicable Incremental Term Loan Assumption Agreement, to make Incremental Term Loans to the Borrower, in
an aggregate principal amount not to exceed its Incremental Term Loan Commitment. Amounts paid or prepaid in respect of Incremental Term Loans may not be reborrowed. 

 

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 Section 2.02. Loans. (a) Each Term Loan shall be made as part of a
Borrowing consisting of Term Loans made by the Lenders ratably in accordance with their applicable Commitments; provided, however, that the failure of any Lender to make any Term Loan shall not in itself relieve any other Lender of its
obligation to lend hereunder (it being understood, however, that no Lender shall be responsible for the failure of any other Lender to make any Term Loan required to be made by such other Lender). The Term Loans comprising any Borrowing shall be in
an aggregate principal amount that is (i) an integral multiple of $1,000,000 and not less than $5,000,000 (except, with respect to any Incremental Term Borrowing, to the extent otherwise provided in the related Incremental Term Loan Assumption
Agreement) or (ii) equal to the remaining available balance of the applicable Commitments. 
 (a) Subject to
Sections 2.08 and 2.15 each Borrowing shall be comprised entirely of ABR Term Loans or Eurodollar Term Loans as the Borrower may request pursuant to Section 2.03. Each Lender may at its option make any Eurodollar Term Loan by causing any
domestic or foreign branch or Affiliate of such Lender to make such Term Loan; provided that any exercise of such option shall not affect the obligation of the Borrower to repay such Term Loan in accordance with the terms of this Agreement.
Borrowings of more than one Type may be outstanding at the same time; provided, however, that the Borrower shall not be entitled to request any Borrowing that, if made, would result in more than ten Eurodollar Borrowings outstanding hereunder
at any time. For purposes of the foregoing, Borrowings having different Interest Periods, regardless of whether they commence on the same date, shall be considered separate Borrowings. 

(b) Each Lender shall make each Term Loan to be made by it hereunder on the proposed date thereof by wire transfer of immediately
available funds to such account in New York City as the Administrative Agent may designate not later than 1:00 p.m., New York City time, and the Administrative Agent shall promptly credit the amounts so received to an account designated by
the Borrower in the applicable Borrowing Request or, if a Borrowing shall not occur on such date because any condition precedent herein specified shall not have been met, return the amounts so received to the respective Lenders. 

(c) Unless the Administrative Agent shall have received notice from a Lender prior to the date of any Borrowing that such Lender will not
make available to the Administrative Agent such Lender’s portion of such Borrowing, the Administrative Agent may assume that such Lender has made such portion available to the Administrative Agent on the date of such Borrowing in accordance
with paragraph (c) above and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If the Administrative Agent shall have so made funds available then, to the extent
that such Lender shall not have made such portion available to the Administrative Agent, such Lender and the Borrower severally agree to repay to the Administrative Agent forthwith on demand such corresponding amount together with interest thereon,
for each day from the date such amount is made available to the Borrower to but excluding the date such 
  

 33 

 
amount is repaid to the Administrative Agent at (i) in the case of the Borrower, a rate per annum equal to the interest rate applicable at the time to the Term Loans comprising such
Borrowing and (ii) in the case of such Lender, a rate determined by the Administrative Agent to represent its cost of overnight or short term funds (which determination shall be conclusive absent manifest error). If such Lender shall repay to
the Administrative Agent such corresponding amount, such amount shall constitute such Lender’s Term Loan as part of such Borrowing for purposes of this Agreement. 

Section 2.03. Borrowing Procedure. In order to request a Borrowing, the Borrower shall notify the Administrative Agent of
such request by telephone (a) in the case of a Eurodollar Borrowing, not later than 12:00 (noon), New York City time, three Business Days before a proposed Borrowing, and (b) in the case of an ABR Borrowing, not later than 12:00 noon,
New York City time, one Business Day before a proposed Borrowing. Each such telephonic Borrowing Request shall be irrevocable, and shall be confirmed promptly by hand delivery or fax to the Administrative Agent of a written Borrowing Request
and shall specify the following information: (i) whether the Borrowing then being requested is to be a Term Borrowing or an Incremental Term Borrowing, and whether such Borrowing is to be a Eurodollar Borrowing or an ABR Borrowing
(provided that, until the Administrative Agent shall have notified the Borrower that the primary syndication of the Term Loan Commitments has been completed (which notice shall be given as promptly as practicable and, in any event, within 30
days after the Closing Date), the Borrower shall not be permitted to request a Eurodollar Borrowing with an Interest Period in excess of one month); (ii) the date of such Borrowing (which shall be a Business Day); (iii) the number and
location of the account to which funds are to be disbursed; (iv) the amount of such Borrowing; and (v) if such Borrowing is to be a Eurodollar Borrowing, the Interest Period with respect thereto; provided, however, that,
notwithstanding any contrary specification in any Borrowing Request, each requested Borrowing shall comply with the requirements set forth in Section 2.02; provided, further, that the Borrowing Request in respect of the initial
Term Loans may, if expressly so stated therein, be contingent upon the consummation of the Acquisition (provided that any such Borrowing Request that contains such contingency shall be permitted only in respect of an ABR Borrowing). If no
election as to the Type of Borrowing is specified in any such notice, then the requested Borrowing shall be an ABR Borrowing. If no Interest Period with respect to any Eurodollar Borrowing is specified in any such notice, then the Borrower shall be
deemed to have selected an Interest Period of one month’s duration. The Administrative Agent shall promptly advise the applicable Lenders of any notice given pursuant to this Section 2.03 (and the contents thereof), and of each
Lender’s portion of the requested Borrowing. 
 Section 2.04. Evidence of Debt; Repayment of Loans.
(a) The Borrower hereby unconditionally promises to pay to the Administrative Agent for the account of each Lender the principal amount of each Term Loan of such Lender as provided in Section 2.11. 

 

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

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

(c) The entries made in the accounts maintained pursuant to paragraphs (b) and (c) above shall be prima facie evidence
of the existence and amounts of the obligations therein recorded; provided, however, that the failure of any Lender or the Administrative Agent to maintain such accounts or any error therein shall not in any manner affect the obligations of
the Borrower to repay the Term Loans in accordance with their terms. 
 (d) Any Lender may request that Term Loans made by it
hereunder be evidenced by a promissory note. In such event, the Borrower shall execute and deliver to such Lender a promissory note payable to such Lender and its registered assigns and in a form and substance reasonably acceptable to the
Administrative Agent and the Borrower. Notwithstanding any other provision of this Agreement, in the event any Lender shall request and receive such a promissory note, the interests represented by such note shall at all times (including after any
assignment of all or part of such interests pursuant to Section 9.04) be represented by one or more promissory notes payable to the payee named therein or its registered assigns. 

Section 2.05. Fees. (a) The Borrower shall pay (i) to the Administrative Agent, for its own account, the
administrative fees set forth in the Fee Letter at the times and in the amounts specified therein, (ii) to the Collateral Trustee, for its own account, such fees as have been separately agreed in writing in the amounts and at the times so
specified and (iii) to the Administrative Agent for the account of the relevant Lenders such fees as shall have been separately agreed between the Borrower and the joint bookrunners and joint lead arrangers in respect of this Agreement in the
amounts and at the times so agreed. 
  

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 (a) In the event that the Term Loans are prepaid in whole or in part pursuant to
Section 2.12(a), or in the event of an assignment of Term Loans pursuant to Section 2.21(a)(iv), in each case, on or prior to the one year anniversary of the Closing Date, the Borrower shall pay to the relevant Lenders a prepayment fee
(the “Prepayment Fee”) equal to 1.00% of the principal amount so prepaid or assigned. 
 (b) All such Fees
shall be paid on the dates due, in immediately available funds, to the Administrative Agent or the Collateral Trustee, as the case may be. Once paid, none of the Fees shall be refundable under any circumstances. 

Section 2.06. Interest on Loans. (a) Subject to the provisions of Section 2.07, the Term Loans comprising each ABR
Borrowing shall bear interest (computed on the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may be, when the Alternate Base Rate is determined by reference to the Prime Rate and over a year of 360 days at
all other times and calculated from and including the date of such Borrowing to but excluding the date of repayment thereof) at a rate per annum equal to the Alternate Base Rate plus the Applicable Margin. 

(a) Subject to the provisions of Section 2.07, the Term Loans comprising each Eurodollar Borrowing shall bear interest (computed on
the basis of the actual number of days elapsed over a year of 360 days) at a rate per annum equal to the Adjusted LIBO Rate for the Interest Period in effect for such Borrowing plus the Applicable Margin. 

(b) Interest on each Term Loan shall be payable on the Interest Payment Dates applicable to such Term Loan except as otherwise provided
in this Agreement. The applicable Alternate Base Rate or Adjusted LIBO Rate for each Interest Period or day within an Interest Period, as the case may be, shall be determined by the Administrative Agent, and such determination shall be conclusive
absent manifest error. 
 Section 2.07. Default Interest. If the Borrower shall default in the payment of any
principal of or interest on any Term Loan or any other amount due hereunder or under any other Loan Document, by acceleration or otherwise, then, until such defaulted amount shall have been paid in full, to the extent permitted by law, all amounts
outstanding under this Agreement and the other Loan Documents shall automatically (without the need of any vote by the Required Lenders) bear interest (after as well as before judgment), payable on demand, (i) in the case of principal, at the
rate otherwise applicable to such Term Loan pursuant to Section 2.06 plus 2.00% per annum and (ii) in all other cases, at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 365 or 366 days, as
the case may be, when determined by reference to the Prime Rate and over a year of 360 days at all other times) equal to the rate that would be applicable to an ABR Term Loan plus 2.00% per annum. 

 

 36 

 Section 2.08. Alternate Rate of Interest. In the event, and on each occasion,
that on the day two Business Days prior to the commencement of any Interest Period for a Eurodollar Borrowing the Administrative Agent shall have determined that Dollar deposits in the principal amounts of the Loans comprising such Borrowing are not
generally available in the London interbank market, or that the rates at which such Dollar deposits are being offered will not adequately and fairly reflect the cost to the majority of Lenders of making or maintaining Eurodollar Loans during such
Interest Period, or that reasonable means do not exist for ascertaining the Adjusted LIBO Rate, the Administrative Agent shall, as soon as practicable thereafter, give written or fax notice of such determination to the Borrower and the Lenders. In
the event of any such determination, until the Administrative Agent shall have advised the Borrower and the Lenders that the circumstances giving rise to such notice no longer exist, any request by the Borrower for a Eurodollar Borrowing pursuant to
Section 2.03 or 2.10 shall be deemed to be a request for an ABR Borrowing. Each determination by the Administrative Agent under this Section 2.08 shall be conclusive absent manifest error. 

Section 2.09. Termination and Reduction of Commitments. (a) The Term Loan Commitments (other than any Incremental
Term Loan Commitments, which shall terminate as provided in the related Incremental Term Loan Assumption Agreement) shall automatically terminate upon the making of the Term Loans on the Closing Date. Notwithstanding the foregoing, all the Term Loan
Commitments shall automatically terminate at 5:00 p.m., New York City time, on August 12, 2010, if the initial Credit Event shall not have occurred by such time. 

(a) Upon at least three Business Days’ prior irrevocable written or fax notice to the Administrative Agent, the Borrower may at any
time in whole permanently terminate, or from time to time in part permanently reduce, the Term Loan Commitments; provided, however, that each partial reduction of the Term Loan Commitments shall be in an integral multiple of $1,000,000 and in
a minimum amount of $5,000,000. 
 (b) Each reduction in the Term Loan Commitments hereunder shall be made ratably among the
Lenders in accordance with their respective Term Loan Commitments. 
 Section 2.10. Conversion and Continuation of
Borrowings. The Borrower shall have the right at any time upon prior irrevocable notice to the Administrative Agent (a) not later than 12:00 (noon), New York City time, one Business Day prior to conversion, to convert any Eurodollar
Borrowing into an ABR Borrowing, (b) not later than 12:00 (noon), New York City time, three Business Days prior to conversion or continuation, to convert any ABR Borrowing into a Eurodollar Borrowing or to continue any Eurodollar Borrowing
as a Eurodollar Borrowing for an additional Interest Period, and (c) not later than 12:00 (noon), New York City time, three Business Days prior to conversion, to convert the Interest Period with respect to any Eurodollar Borrowing to
another permissible Interest Period, subject in each case to the following: 
 (i) until the Administrative Agent
shall have notified the Borrower that the primary syndication of the Term Loan Commitments has been completed (which notice shall be given as promptly as practicable and, in any event, within 30 days after the Closing Date), no ABR Borrowing may be
converted into a Eurodollar Borrowing with an Interest Period in excess of one month; 
  

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 (ii) each conversion or continuation shall be made pro rata among the
Lenders in accordance with the respective principal amounts of the Loans comprising the converted or continued Borrowing; 

(iii) if less than all the outstanding principal amount of any Borrowing shall be converted or continued, then each
resulting Borrowing shall satisfy the limitations specified in Sections 2.02(a) and 2.02(b) regarding the principal amount and maximum number of Borrowings of the relevant Type; 

(iv) each conversion shall be effected by each Lender and the Administrative Agent by recording for the account of such
Lender the new Term Loan of such Lender resulting from such conversion and reducing the Term Loan (or portion thereof) of such Lender being converted by an equivalent principal amount; accrued interest on any Eurodollar Term Loan (or portion
thereof) being converted shall be paid by the Borrower at the time of conversion; 
 (b) if any Eurodollar Borrowing is
converted at a time other than the end of the Interest Period applicable thereto, the Borrower shall pay, upon demand, any amounts due to the Lenders pursuant to Section 2.16; 

(i) any portion of a Borrowing maturing or required to be repaid in less than one month may not be converted into or
continued as a Eurodollar Borrowing; 
 (ii) any portion of a Eurodollar Borrowing that cannot be converted into
or continued as a Eurodollar Borrowing by reason of the immediately preceding clause shall be automatically converted at the end of the Interest Period in effect for such Borrowing into an ABR Borrowing; 

(iii) no Interest Period may be selected for any Eurodollar Term Borrowing that would end later than a Term Loan Repayment
Date occurring on or after the first day of such Interest Period if, after giving effect to such selection, the aggregate outstanding amount of (A) the Eurodollar Term Borrowings comprised of Term Loans or Other Term

  

 38 

 
Loans, as applicable, with Interest Periods ending on or prior to such Term Loan Repayment Date and (B) the ABR Term Borrowings comprised of Term Loans or Other Term Loans, as applicable,
would not be at least equal to the principal amount of Term Borrowings to be paid on such Term Loan Repayment Date; and 

(iv) upon notice to the Borrower from the Administrative Agent given at the request of the Required Lenders, after the
occurrence and during the continuance of a Default or Event of Default, no outstanding Term Loan may be converted into, or continued as, a Eurodollar Term Loan. 

Each notice pursuant to this Section 2.10 shall be irrevocable and shall refer to this Agreement and specify (i) the identity
and amount of the Borrowing that the Borrower requests be converted or continued, (ii) whether such Borrowing is to be converted to or continued as a Eurodollar Borrowing or an ABR Borrowing, (iii) if such notice requests a conversion, the
date of such conversion (which shall be a Business Day) and (iv) if such Borrowing is to be converted to or continued as a Eurodollar Borrowing, the Interest Period with respect thereto. If no Interest Period is specified in any such notice
with respect to any conversion to or continuation as a Eurodollar Borrowing, the Borrower shall be deemed to have selected an Interest Period of one month’s duration. The Administrative Agent shall advise the Lenders of any notice given
pursuant to this Section 2.10 and of each Lender’s portion of any converted or continued Borrowing. If the Borrower shall not have given notice in accordance with this Section 2.10 to continue any Borrowing into a subsequent Interest
Period (and shall not otherwise have given notice in accordance with this Section 2.10 to convert such Borrowing), such Borrowing shall, at the end of the Interest Period applicable thereto (unless repaid pursuant to the terms hereof),
automatically be continued as an ABR Borrowing. 
 Section 2.11. Repayment of Term Borrowings.
(a) (i) The Borrower shall pay to the Administrative Agent, for the account of the Lenders, on the dates set forth below, or if any such date is not a Business Day, on the next preceding Business Day (each such date being called
a “Repayment Date”), a principal amount of the Loans other than Other Term Loans (as adjusted from time to time pursuant to Sections 2.11(b), 2.12, 2.13(e) and 2.22(d)) equal to the amount set forth below for such date,
together in each case with accrued and unpaid interest on the principal amount to be paid to but excluding the date of such payment: 
  

				
	 Repayment Date
	  	Amount
	 March 31, 2011
	  	$	 4,687,500
	 June 30, 2011
	  	$	 4,687,500
	 September 30, 2011
	  	$	 4,687,500

  

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	 Repayment Date
	  	Amount
	 December 31, 2011
	  	$	 4,687,500
	 March 31, 2012
	  	$	 9,375,000
	 June 30, 2012
	  	$	 9,375,000
	 September 30, 2012
	  	$	 9,375,000
	 December 31, 2012
	  	$	 9,375,000
	 March 31, 2013
	  	$	 9,375,000
	 June 30, 2013
	  	$	 9,375,000
	 September 30, 2013
	  	$	 9,375,000
	 December 31, 2013
	  	$	 9,375,000
	 March 31, 2014
	  	$	 9,375,000
	 June 30, 2014
	  	$	 9,375,000
	 September 30, 2014
	  	$	 9,375,000
	 December 31, 2014
	  	$	 9,375,000
	 March 31, 2015
	  	$	 9,375,000
	 June 30, 2015
	  	$	 9,375,000
	 September 30, 2015
	  	$	 9,375,000
	 December 31, 2015
	  	$	 9,375,000
	 March 31, 2016
	  	$	 9,375,000
	 Maturity Date
	  	$	 571,875,000

(i) The Borrower shall pay to the Administrative Agent, for the account of the Incremental Term Lenders, on each
Incremental Term Loan Repayment Date, a principal amount of the Other Term Loans (as adjusted from time to time pursuant to Sections 2.11(b), 2.12 and 2.13(e)) equal to the amount set forth for such date in the applicable Incremental Term Loan
Assumption Agreement, together in each case with accrued and unpaid interest on the principal amount to be paid to but excluding the date of such payment. 

(b) In the event and on each occasion that the Term Loan Commitments shall be reduced or shall expire or terminate other than as a result
of the making of a Term Loan, the installments payable on each Repayment Date shall be reduced pro rata by an aggregate amount equal to the amount of such reduction, expiration or termination. 

 

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 (c) To the extent not previously paid, all Term Loans and Other Term Loans shall be due and
payable on the Maturity Date and the Incremental Term Loan Maturity Date, respectively, together with accrued and unpaid interest on the principal amount to be paid to but excluding the date of payment. 

(d) All repayments pursuant to this Section 2.11 shall be subject to Section 2.16, but shall otherwise be without premium or
penalty. 
 Section 2.12. Voluntary Prepayment. (a) The Borrower shall have the right at any time and
from time to time to prepay any Borrowing, in whole or in part, upon at least three Business Days’ prior written or fax notice (or telephone notice promptly confirmed by written or fax notice) in the case of Eurodollar Term Loans, or written or
fax notice (or telephone notice promptly confirmed by written or fax notice) at least one Business Day prior to the date of prepayment in the case of ABR Term Loans, to the Administrative Agent before 12:00 (noon), New York City time;
provided, however, that each partial prepayment shall be in an amount that is an integral multiple of $1,000,000 and not less than $5,000,000. 

(a) Voluntary prepayments of Loans shall be applied pro rata against the remaining scheduled installments of principal due in respect of
the Loans under Section 2.11. 
 (b) Each notice of prepayment shall specify the prepayment date and the principal amount
of each Borrowing (or portion thereof) to be prepaid, shall be irrevocable and shall commit the Borrower to prepay such Borrowing by the amount stated therein on the date stated therein; provided, however, that if such prepayment is for all
of the then outstanding Loans, then the Borrower may revoke such notice and/or extend the prepayment date by not more than five Business Days; provided further, however, that the provisions of Section 2.16 shall apply with respect
to any such revocation or extension. All prepayments under this Section 2.12 shall be subject to Section 2.16 but otherwise without premium or penalty. All prepayments under this Section 2.12 shall be accompanied by accrued and unpaid
interest on the principal amount to be prepaid to but excluding the date of payment. 
 Section 2.13. Mandatory
Prepayments. (a) Not later than the third Business Day following the receipt of Net Cash Proceeds by any Loan Party in respect of one or more Asset Sales in an aggregate amount in excess of $2,000,000, the Borrower shall apply the
Pro Rata Share of the Net Cash Proceeds received with respect thereto to prepay outstanding Term Loans in accordance with Section 2.13(e), it being understood and agreed that the Borrower shall make an offer to the holders of the Senior Secured
Notes to purchase the Senior Secured Notes in an aggregate amount equal to the remaining balance of such Net Cash Proceeds in accordance with the terms of the Senior Secured Note Indenture. For purposes hereof, “the Pro Rata Share”
of Net Cash Proceeds received with respect to any Asset Sale at any time means the percentage of the aggregate principal amount of the Loans and the Senior Secured Notes outstanding at such time represented by the aggregate principal amount of the
Loans outstanding at such time. 
  

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 (a) No later than the earlier of (i) 90 days after the end of each fiscal year of the
Borrower, commencing with the fiscal year ending on September 30, 2011, and (ii) the date on which the financial statements with respect to such period are delivered pursuant to Section 5.04(a), the Borrower shall prepay outstanding
Loans in accordance with Section 2.13(e) in an aggregate principal amount equal to (x) 50% of Excess Cash Flow for the fiscal year then ended minus (y) voluntary prepayments of Loans under Section 2.12 during such fiscal year but
only to the extent that such prepayments do not occur in connection with a refinancing of all or any portion of such Indebtedness; provided that such percentage shall be reduced to 25% if the Leverage Ratio as of the last day of the
immediately preceding four fiscal quarters was less than 3.2:1. 
 (b) In the event that any Loan Party or any subsidiary of a
Loan Party shall receive Net Cash Proceeds from the issuance or incurrence of Indebtedness for money borrowed of any Loan Party or any subsidiary of a Loan Party (other than any cash proceeds from the issuance of Indebtedness for money borrowed
permitted pursuant to Section 6.01, except for Section 6.01(b)(ii) as to which the mandatory prepayment requirement of this Section 2.13(c) shall apply), the Borrower shall, substantially simultaneously with (and in any event not
later than the third Business Day next following) the receipt of such Net Cash Proceeds by such Loan Party or such subsidiary, apply an amount equal to 100% of such Net Cash Proceeds to prepay outstanding Loans in accordance with
Section 2.13(e). 
 (c) In the event that Super Holdco or any Loan Party shall receive Net Cash Proceeds in respect of any
purchase price adjustment relating to the Acquisition (a “Purchase Price Adjustment”), the Borrower shall, substantially simultaneously with (and in any event not later than the third Business Day next following) the receipt of such
Net Cash Proceeds by any such Person, cause an amount equal to 100% of such Net Cash Proceeds to be applied to prepay outstanding Loans in accordance with Section 2.13(e). 

(d) Mandatory prepayments of outstanding Loans under this Agreement shall be allocated pro rata between the Term Loans and the Other Term
Loans and applied pro rata against the remaining scheduled installments of principal due in respect of the Term Loans and the Other Term Loans under Sections 2.11(a)(i) and (ii) respectively, except to the extent the terms of any
Incremental Term Loans provide for a less favorable treatment of any Other Term Loans. 
 (e) The Borrower shall deliver to the
Administrative Agent, at the time of each prepayment required under this Section 2.13, (i) a certificate signed by a Financial Officer of the Borrower setting forth in reasonable detail the calculation of the amount of such prepayment and
(ii) to the extent practicable, at least three 
  

 42 

 
Business Days prior written notice of such prepayment. Each notice of prepayment shall specify the prepayment date, the Type of each Term Loan being prepaid and the principal amount of each Term
Loan (or portion thereof) to be prepaid. All prepayments of Borrowings under this Section 2.13 shall be subject to Section 2.16, but shall otherwise be without premium or penalty, and shall be accompanied by accrued and unpaid interest on
the principal amount to be prepaid to but excluding the date of payment. 
 Section 2.14. Reserve Requirements; Change
in Circumstances. (a) Notwithstanding any other provision of this Agreement, if any Change in Law shall impose, modify or deem applicable any reserve, special deposit or similar requirement against assets of, deposits with or for the
account of or credit extended by any Lender (except any such reserve requirement which is reflected in the Adjusted LIBO Rate) or shall impose on such Lender or the London interbank market any other condition affecting this Agreement or Eurodollar
Term Loans made by such Lender, and the result of any of the foregoing shall be to increase the cost to such Lender of making or maintaining any Eurodollar Term Loan or increase the cost to any Lender or to reduce the amount of any sum received or
receivable by such Lender hereunder (whether of principal, interest or otherwise) by an amount deemed by such Lender to be material, then the Borrower will pay to such Lender upon demand such additional amount or amounts as will compensate such
Lender for such additional costs incurred or reduction suffered. 
 (a) If any Lender shall have determined that any Change in
Law regarding capital adequacy has or would have the effect of reducing the rate of return on such Lender’s capital or on the capital of such Lender’s holding company, if any, as a consequence of this Agreement or the Term Loans made
pursuant hereto to a level below that which such Lender or such Lender’s holding company could have achieved but for such Change in Law (taking into consideration such Lender’s policies and the policies of such Lender’s holding
company with respect to capital adequacy) by an amount deemed by such Lender to be material, then from time to time the Borrower shall pay to such Lender such additional amount or amounts as will compensate such Lender or such Lender’s holding
company for any such reduction suffered. 
 (b) A certificate of a Lender setting forth the amount or amounts necessary to
compensate such Lender or its holding company, as applicable, as specified in paragraph (a) or (b) above shall be delivered to the Borrower and shall be conclusive absent manifest error. The Borrower shall pay such Lender the amount shown
as due on any such certificate delivered by it within 10 days after its receipt of the same. 
  

 43 

 (c) Failure or delay on the part of any Lender to demand compensation for any increased
costs or reduction in amounts received or receivable or reduction in return on capital shall not constitute a waiver of such Lender’s right to demand such compensation; provided that the Borrower shall not be under any obligation to
compensate any Lender under paragraph (a) or (b) above with respect to increased costs or reductions with respect to any period prior to the date that is 120 days prior to such request if such Lender knew or could reasonably have been
expected to know of the circumstances giving rise to such increased costs or reductions and of the fact that such circumstances would result in a claim for increased compensation by reason of such increased costs or reductions; provided further that
the foregoing limitation shall not apply to any increased costs or reductions arising out of the retroactive application of any Change in Law within such 120-day period. The protection of this Section shall be available to each Lender regardless of
any possible contention of the invalidity or inapplicability of the Change in Law that shall have occurred or been imposed. 

Section 2.15. Change in Legality. (a) Notwithstanding any other provision of this Agreement, if any Change in Law
shall make it unlawful for any Lender to make or maintain any Eurodollar Term Loan or to give effect to its obligations as contemplated hereby with respect to any Eurodollar Term Loan, then, by written notice to the Borrower and to the
Administrative Agent: 
 (i) such Lender may declare that Eurodollar Term Loans will not thereafter (for the
duration of such unlawfulness) be made by such Lender hereunder (or be continued for additional Interest Periods) and ABR Term Loans will not thereafter (for such duration) be converted into Eurodollar Term Loans, whereupon any request for a
Eurodollar Borrowing (or to convert an ABR Borrowing to a Eurodollar Borrowing or to continue a Eurodollar Borrowing for an additional Interest Period) shall, as to such Lender only, be deemed a request for an ABR Term Loan (or a request to continue
an ABR Term Loan as such for an additional Interest Period or to convert a Eurodollar Term Loan into an ABR Term Loan, as the case may be), unless such declaration shall be subsequently withdrawn; and 

(ii) such Lender may require that all outstanding Eurodollar Term Loans made by it be converted to ABR Term Loans, in
which event all such Eurodollar Term Loans shall be automatically converted to ABR Term Loans as of the effective date of such notice as provided in paragraph (b) below. 

In the event any Lender shall exercise its rights under (i) or (ii) above, all payments and prepayments of principal that would
otherwise have been applied to repay the Eurodollar Term Loans that would have been made by such Lender or the converted Eurodollar Term Loans of such Lender shall instead be applied to repay the ABR Term Loans made by such Lender in lieu of, or
resulting from the conversion of, such Eurodollar Term Loans. 
  

 44 

 (b) For purposes of this Section 2.15, a notice to the Borrower by any Lender shall be
effective as to each Eurodollar Term Loan made by such Lender, if lawful, on the last day of the Interest Period then applicable to such Eurodollar Term Loan; in all other cases such notice shall be effective on the date of receipt by the Borrower.

 Section 2.16. Breakage. The Borrower shall indemnify each Lender against any loss (other than any lost profit or
margin) or expense that such Lender may sustain or incur as a consequence of (a) any event, other than a default by such Lender in the performance of its obligations hereunder, which results in (i) such Lender receiving or being deemed to
receive any amount on account of the principal of any Eurodollar Term Loan prior to the end of the Interest Period in effect therefor, (ii) the conversion of any Eurodollar Term Loan to an ABR Term Loan, or the conversion of the Interest Period
with respect to any Eurodollar Term Loan, in each case other than on the last day of the Interest Period in effect therefor, or (iii) any Eurodollar Term Loan to be made by such Lender (including any Eurodollar Term Loan to be made pursuant to
a conversion or continuation under Section 2.10) not being made after notice of such Term Loan shall have been given by the Borrower hereunder (any of the events referred to in this clause (a) being called a “Breakage
Event”) or (b) any default in the making of any payment or prepayment required to be made hereunder. In the case of any Breakage Event, such loss shall include an amount equal to the excess, as reasonably determined by such Lender, of
(i) its cost of obtaining funds for the Eurodollar Term Loan that is the subject of such Breakage Event for the period from the date of such Breakage Event to the last day of the Interest Period in effect (or that would have been in effect) for
such Term Loan over (ii) the amount of interest likely to be realized by such Lender in redeploying the funds released or not utilized by reason of such Breakage Event for such period. A certificate of any Lender setting forth any amount or
amounts which such Lender is entitled to receive pursuant to this Section 2.16 shall be delivered to the Borrower and shall be conclusive absent manifest error. 

Section 2.17. Pro Rata Treatment. Subject to Section 2.15, each Borrowing, each payment or prepayment of principal of
any Borrowing made by or on behalf of the Borrower, each payment of interest on the Loans made by or on behalf of the Borrower, each reduction of the Commitments and each conversion of any Borrowing to or continuation of any Borrowing as a Borrowing
of any Type shall be allocated pro rata among the Lenders in accordance with their respective applicable Commitments (or, if such Commitments shall have expired or been terminated, in accordance with the respective principal amounts of their
outstanding Loans). Each Lender agrees that in computing such Lender’s portion of any Borrowing to be made hereunder, the Administrative Agent may, in its discretion, round each Lender’s percentage of such Borrowing to the next higher or
lower whole Dollar amount. 
  

 45 

 Section 2.18. Sharing of Setoffs. Each Lender agrees that if it shall, through
the exercise of a right of banker’s lien, setoff or counterclaim against the Borrower or any other Loan Party, or pursuant to a secured claim under Section 506 of Title 11 of the United States Code or other security or interest arising
from, or in lieu of, such secured claim, received by such Lender under any applicable bankruptcy, insolvency or other similar law or otherwise, or by any other means, obtain payment (voluntary or involuntary) in respect of any Loans as a result of
which the unpaid principal portion of its Loans shall be proportionately less than the unpaid principal portion of the Loans of any other Lender, it shall be deemed simultaneously to have purchased from such other Lender at face value, and shall
promptly pay to such other Lender the purchase price for, a participation in the Loans of such other Lender, so that the aggregate unpaid principal amount of the Loans and participations in Loans held by each Lender shall be in the same proportion
to the aggregate unpaid principal amount of all Loans then outstanding as the principal amount of its Loans prior to such exercise of banker’s lien, setoff or counterclaim or other event was to the principal amount of all Loans outstanding
prior to such exercise of banker’s lien, setoff or counterclaim or other event; provided, however, that (i) if any such purchase or purchases or adjustments shall be made pursuant to this Section 2.18 and the payment giving
rise thereto shall thereafter be recovered, such purchase or purchases or adjustments shall be rescinded to the extent of such recovery and the purchase price or prices or adjustment restored without interest, and (ii) the provisions of this
Section 2.18 shall not be construed to apply to any payment made by the Borrower to a Lender in its capacity as such pursuant to and in accordance with the express terms of this Agreement or any payment obtained by a Lender as consideration for
the assignment of or sale of a participation in any of its Loans to any assignee or participant. The Borrower and Holdings expressly consent to the foregoing arrangements and agree that any Lender holding a participation in a Loan deemed to have
been so purchased may exercise any and all rights of banker’s lien, setoff or counterclaim with respect to any and all moneys owing by the Borrower and Holdings to such Lender by reason thereof as fully as if such Lender had made a Loan
directly to the Borrower in the amount of such participation. 
 Section 2.19. Payments. (a) The
Borrower shall make each payment (including principal of or interest on any Borrowing or any Fees or other amounts) hereunder and under any other Loan Document not later than 2:00 p.m., New York City time, on the date when due in immediately
available Dollars, without setoff, defense or counterclaim. Each such payment shall be made to the Administrative Agent at its offices at Eleven Madison Avenue, New York, NY 10010. The Administrative Agent shall promptly distribute to each
Lender any payments received by the Administrative Agent on behalf of such Lender. 
  

 46 

 (a) Except as otherwise expressly provided herein, whenever any payment (including principal
of or interest on any Borrowing or any Fees or other amounts) hereunder or under any other Loan Document shall become due, or otherwise would occur, on a day that is not a Business Day, such payment may be made on the next succeeding Business Day,
and such extension of time shall in such case be included in the computation of interest. 
 Section 2.20. Taxes.
(a) Any and all payments by or on account of any obligation of the Borrower or any other Loan Party hereunder or under any other Loan Document shall be made free and clear of and without deduction for any Indemnified Taxes or Other
Taxes; provided that, if the Borrower or any other Loan Party shall be required to deduct any Indemnified Taxes or Other Taxes from such payments, then (i) the sum payable shall be increased as necessary so that after making all required
deductions (including deductions applicable to additional sums payable under this Section) the Administrative Agent and each Lender (as the case may be) receives an amount equal to the sum it would have received had no such deductions been made,
(ii) the Borrower or such Loan Party shall make such deductions and (iii) the Borrower or such Loan Party shall pay the full amount deducted to the relevant Governmental Authority in accordance with applicable law. 

(a) In addition, the Borrower shall pay any Other Taxes to the relevant Governmental Authority in accordance with applicable law.

 (b) The Borrower shall indemnify the Administrative Agent and each Lender, within 10 days after written demand therefor, for
the full amount of any Indemnified Taxes or Other Taxes paid by the Administrative Agent or such Lender, as the case may be, on or with respect to any payment by or on account of any obligation of the Borrower or any other Loan Party hereunder or
under any other Loan Document (including Indemnified Taxes or Other Taxes imposed or asserted on or attributable to amounts payable under this Section) and any penalties, interest and reasonable expenses arising therefrom or with respect thereto,
whether or not such Indemnified Taxes or Other Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to the Borrower by a Lender, or by the
Administrative Agent on behalf of itself or a Lender, shall be conclusive absent manifest error. 
 (c) As soon as practicable
after any payment of Indemnified Taxes or Other Taxes by the Borrower or any other Loan Party to a Governmental Authority, the Borrower shall deliver to the Administrative Agent the original or a certified copy of a receipt issued by such
Governmental Authority evidencing such payment, a copy of the return reporting such payment or other evidence of such payment reasonably satisfactory to the Administrative Agent. 

 

 47 

 (d) Any Lender that is entitled to an exemption from or reduction of any withholding tax
under the law of the jurisdiction in which the Borrower is located, or any treaty to which such jurisdiction is a party, with respect to payments under this Agreement shall deliver to the Borrower and, if necessary, the IRS or other Governmental
Authority (with a copy to the Administrative Agent), at the time or times prescribed by applicable law, such properly completed and executed documentation prescribed by applicable law or reasonably requested by the Borrower as will permit such
payments to be made without withholding or at a reduced rate. Such Lender shall promptly notify the Borrower at any time it determines that it is no longer in a position to provide any previously delivered documentation to the Borrower or, if
applicable, the IRS or other Governmental Authority. Without limiting the generality of the foregoing, any Foreign Lender shall deliver to the Borrower, Administrative Agent and, if necessary, the IRS or other Governmental Authority (in such number
of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter (i) if such Foreign Lender shall determine that any applicable form
or certification has expired or will then expire or has or will then become obsolete or incorrect or that an event has occurred that requires or will then require a change in the most recent form or certification previously delivered by it to the
Borrower and the Administrative Agent and (ii) upon the request of the Borrower or Administrative Agent, but only if such Foreign Lender is legally entitled to do so), whichever of the following is applicable: 

(i) duly completed copies of IRS Form W-8BEN claiming eligibility for benefits of an income tax treaty to which the United
States of America is a party; 
 (ii) duly completed copies of IRS Form W-8ECI; 

(iii) in the case of a Foreign Lender claiming the benefits of the exemption for portfolio interest under
Section 871(h) or 881(c) of the Code: (x) a certificate substantially in the form of Exhibit L (any such certificate, a “United States Tax Compliance Certificate”) to the effect that such Foreign Lender is not: (A) a
“bank” within the meaning of Section 881(c)(3)(A) of the Code, (B) a “10 percent shareholder” of the Borrower within the meaning of Section 881(c)(3)(B) of the Code, or (C) a “controlled foreign
corporation” described in Section 881(c)(3)(C) of the Code and (y) duly completed copies of IRS Form W-8BEN; 

(iv) to the extent a Foreign Lender is not the beneficial owner (for example, where the Foreign Lender is a partnership or
participating Lender granting a typical participation), duly completed copies of IRS Form W-8IMY, accompanied by duly completed IRS Form W-8ECI, IRS Form W-8BEN, a United States Tax Compliance Certificate, IRS Form W-9 or other required
documentation from each beneficial owner, as applicable (together with, if applicable, duly completed copies of IRS Form W-8IMY of any upper-tier non-beneficial owner of such Foreign Lender); or 

 

 48 

 (v) any other form prescribed by applicable law as a basis for claiming
exemption from or a reduction of United States Federal withholding Tax duly completed together with such supplementary documentation as may be prescribed by applicable law to permit the Borrower to determine the withholding or deduction required to
be made. 
 (e) If a Lender or the Administrative Agent determines, in its sole discretion, that it has received a refund in
respect of any Indemnified Taxes or Other Taxes as to which it has been indemnified by the Borrower or with respect to which the Borrower has paid additional amounts pursuant to this Section 2.20, it shall pay over the amount of such refund to
the Borrower, net of all out-of-pocket expenses of such Lender or the Administrative Agent and without interest (other than interest paid by the relevant taxation authority with respect to such refund); provided that the Borrower, upon the
request of such Lender or the Administrative Agent, agrees to repay the amount paid over to the Borrower (plus penalties, interest or other charges) to such Lender or the Administrative Agent in the event such Lender or the Administrative Agent is
required to repay such refund to such taxation authority; provided, further, that this subsection shall not be construed to require such Lender or the Administrative Agent to make available its tax returns (or any other information relating
to its taxes that it deems confidential) to the Borrower or any other Person. 
 Section 2.21. Assignment of Commitments
Under Certain Circumstances; Duty to Mitigate. (a) In the event (i) any Lender delivers a certificate requesting compensation pursuant to Section 2.14, (ii) any Lender delivers a notice described in Section 2.15,
(iii) the Borrower is required to pay any additional amount to any Lender or any Governmental Authority on account of any Lender pursuant to Section 2.20 or (iv) any Lender refuses to consent to any amendment, waiver or other
modification of any Loan Document requested by the Borrower that requires the consent of a greater percentage of the Lenders than the Required Lenders and such amendment, waiver or other modification is consented to by the Required Lenders, then, in
each case, the Borrower may, at its sole expense and effort (including with respect to the processing and recordation fee referred to in Section 9.04(b)), upon notice to such Lender and the Administrative Agent, require such Lender to transfer
and assign, without recourse (in accordance with and subject to the restrictions contained in Section 9.04), all of its interests, rights and obligations under this Agreement (or, in the case of clause (iv) above, all of its interests,
rights and obligation with respect to the Class of Term Loans or Commitments that is the subject of the related consent, amendment, waiver or other modification) to an Eligible Assignee that shall assume such assigned obligations and, with respect
to clause (iv) above, shall consent to such requested amendment, waiver or other modification of any Loan Documents (which assignee may be another Lender, if a Lender accepts such assignment); provided that (x) such assignment shall
not conflict with any law, rule or regulation or order of any court or other Governmental Authority having jurisdiction, (y) the 

 

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Borrower shall have received the prior written consent of the Administrative Agent, which consent shall not unreasonably be withheld or delayed, and (z) the Borrower or such assignee shall
have paid to the affected Lender in immediately available funds an amount equal to the sum of the principal of and interest accrued to the date of such payment on the outstanding Loans of such Lender, plus all amounts accrued for the account of such
Lender hereunder with respect thereto (including any amounts under Sections 2.14 and 2.16); provided further that, if prior to any such transfer and assignment the circumstances or event that resulted in such Lender’s claim for
compensation under Section 2.14, notice under Section 2.15 or the amounts paid pursuant to Section 2.20, as the case may be, cease to cause such Lender to suffer increased costs or reductions in amounts received or receivable or
reduction in return on capital, or cease to have the consequences specified in Section 2.15, or cease to result in amounts being payable under Section 2.20, as the case may be (including as a result of any action taken by such Lender
pursuant to paragraph (b) below), or if such Lender shall waive its right to claim further compensation under Section 2.14 in respect of such circumstances or event or shall withdraw its notice under Section 2.15 or shall waive its
right to further payments under Section 2.20 in respect of such circumstances or event or shall consent to the proposed amendment, waiver, consent or other modification, as the case may be, then such Lender shall not thereafter be required to
make any such transfer and assignment hereunder. Each Lender hereby grants to the Administrative Agent an irrevocable power of attorney (which power is coupled with an interest) to execute and deliver, on behalf of such Lender, as assignor, any
Assignment and Acceptance necessary to effectuate any assignment of such Lender’s interests hereunder in the circumstances contemplated by this Section 2.21(a). 

(a) If (i) any Lender shall request compensation under Section 2.14 or (ii) any Lender delivers a notice described in
Section 2.15, then such Lender shall use reasonable efforts (which shall not require such Lender to incur an unreimbursed loss or unreimbursed cost or expense or otherwise take any action inconsistent with its internal policies or legal or
regulatory restrictions or suffer any disadvantage or burden deemed by it to be significant) (x) to file any certificate or document reasonably requested in writing by the Borrower or (y) to assign its rights and delegate and transfer its
obligations hereunder to another of its offices, branches or affiliates, if such filing or assignment would reduce its claims for compensation under Section 2.14 or enable it to withdraw its notice pursuant to Section 2.15, as the case may
be, in the future. The Borrower hereby agrees to pay all reasonable costs and expenses incurred by any Lender in connection with any such filing or assignment, delegation and transfer. 

Section 2.22. Incremental Term Loans. (a) The Borrower may, by written notice to the Administrative Agent from
time to time, request Incremental Term Loan Commitments in an amount not to exceed the Incremental Loan Amount from one or more Incremental Term Lenders, all of which must be Eligible 

 

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Assignees. Such notice shall set forth (i) the amount of the Incremental Term Loan Commitments being requested (which shall be in minimum increments of $1,000,000 and a minimum amount of
$5,000,000 or such lesser amount equal to the remaining Incremental Term Loan Amount), (ii) the date on which such Incremental Term Loan Commitments are requested to become effective (which shall not be less than 10 Business Days nor more than
60 days after the date of such notice), and (iii) whether such Incremental Term Loan Commitments are commitments to make additional Term Loans or commitments to make term loans with terms different from the Term Loans (“Other Term
Loans”). 
 (a) The Borrower may seek Incremental Term Loan Commitments from existing Lenders (each of which shall be
entitled to agree or decline to participate in its sole discretion) and additional banks, financial institutions and other institutional lenders who will become Incremental Term Lenders in connection therewith. The Borrower and each Incremental Term
Lender shall execute and deliver to the Administrative Agent an Incremental Term Loan Assumption Agreement and such other documentation as the Administrative Agent shall reasonably specify to evidence the Incremental Term Loan Commitment of each
Incremental Term Lender. The terms and provisions of the Incremental Term Loans shall be identical to those of the Term Loans except as otherwise set forth herein or in the Incremental Term Loan Assumption Agreement. Without the prior written
consent of the Required Lenders, (i) the final maturity date of any Other Term Loans shall be no earlier than the Maturity Date, (ii) the average life to maturity of the Other Term Loans shall be no shorter than the average life to
maturity of the Term Loans and (iii) if (A) the initial yield on such Other Term Loans (as determined by the Administrative Agent to be equal to the sum of (x) the margin above the adjusted LIBO Rate on such Other Term Loans,
(y) the difference (if positive) between any LIBOR floor and the adjusted LIBO Rate applicable to such Other Term Loans and (z) if such Other Term Loans are initially made at a discount or the Lenders making the same receive a fee (other
than any fee paid to an institution to arrange, underwrite or place such Other Term Loans, so long as such fee is not shared with any Incremental Term Lender solely in their capacity as such) directly or indirectly from Holdings, the Borrower or any
Subsidiary for doing so (the amount of such discount or fee, expressed as a percentage of the Other Term Loans, being referred to herein as “OID”), the amount of such OID divided by the lesser of (1) the average life to
maturity of such Other Term Loans and (2) four) exceeds (B) the sum of (x) the Applicable Margin then in effect for Eurodollar Term Loans and (y) the difference (if positive) between any LIBOR floor and the Adjusted LIBO
Rate (without giving effect to clause (a) in the definition of Adjusted LIBO Rate) then in effect for Eurodollar Term Loans (the amount of such excess of clause (A) over clause (B) being referred to herein as the “Yield
Differential”), then the Applicable Margin then in effect for Term Loans shall automatically be increased by the Yield Differential, effective upon the making of the Other Term Loans. The Administrative Agent shall promptly notify each
Lender as to the effectiveness of 
  

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each Incremental Term Loan Assumption Agreement. Each of the parties hereto hereby agrees that, upon the effectiveness of any Incremental Term Loan Assumption Agreement, this Agreement shall be
deemed amended to the extent (but only to the extent) necessary to reflect the existence and terms of the Incremental Term Loan Commitment and the Incremental Term Loans evidenced thereby, and the Administrative Agent and the Borrower may revise
this Agreement to evidence such amendments. 
 (b) Notwithstanding the foregoing, no Incremental Term Loan Commitment shall
become effective under this Section 2.22 unless (i) on the date of such effectiveness, the conditions set forth in paragraphs (b) and (c) of Section 4.01 shall be satisfied and the Administrative Agent shall have received a
certificate to that effect dated such date and executed by a Financial Officer of the Borrower, (ii) except as otherwise specified in the applicable Incremental Term Loan Assumption Agreement, the Administrative Agent shall have received (with
sufficient copies for each of the Incremental Term Lenders) legal opinions, board resolutions and other closing certificates reasonably requested by the Administrative Agent and consistent with those delivered on the Closing Date under
Section 4.02, and (iii) the Borrower would be in compliance with the covenants set forth in Sections 6.11 and 6.12 as of the most recently completed period of four consecutive fiscal quarters ending prior to the date of such
effectiveness for which the financial statements and certificates required by Section 5.04(a) or 5.04(b), as the case may be, and 5.04(c) have been delivered or for which comparable financial statements have been filed with the SEC, after
giving pro forma effect to the borrowing of such Incremental Term Loans and to any other event occurring after such period as to which pro forma recalculation is appropriate as if such Incremental Term Loans had been made as of the first day of such
period. 
 (c) Each of the parties hereto hereby agrees that the Administrative Agent may, in consultation with the Borrower,
take any and all action as may be reasonably necessary to ensure that all Incremental Term Loans (other than Other Term Loans), when originally made, are included in each Borrowing of outstanding Term Loans on a pro rata basis. This may be
accomplished by requiring each outstanding Eurodollar Term Borrowing to be converted into an ABR Term Borrowing on the date of each Incremental Term Loan, or by allocating a portion of each Incremental Term Loan to each outstanding Eurodollar Term
Borrowing on a pro rata basis. Any conversion of Eurodollar Term Loans to ABR Term Loans required by the preceding sentence shall be subject to Section 2.16. If any Incremental Term Loan is to be allocated to an existing Interest Period for a
Eurodollar Term Borrowing, then the interest rate thereon for such Interest Period and the other economic consequences thereof shall be as set forth in the applicable Incremental Term Loan Assumption Agreement. In addition, to the extent any
Incremental Term Loans are not Other Term Loans, the scheduled amortization payments under Section 2.11(a)(i) 
  

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required to be made after the making of such Incremental Term Loans shall be ratably increased by the aggregate principal amount of such Incremental Term Loans and shall be further increased for
all Lenders on a pro rata basis to the extent necessary to avoid any reduction in the amortization payments to which the Lenders were entitled before such recalculation. 

ARTICLE 3 

REPRESENTATIONS AND WARRANTIES 

Each of Holdings and the Borrower represents and warrants to the Administrative Agent and each of the Lenders that: 

Section 3.01. Organization; Powers. Holdings, the Borrower and each of the Subsidiaries (a) is duly organized, validly
existing and in good standing under the laws of the jurisdiction of its organization, (b) has all requisite power and authority to own its property and assets and to carry on its business as now conducted and as proposed to be conducted,
(c) is qualified to do business in, and is in good standing in, every jurisdiction where such qualification is required, except where the failure so to qualify could not reasonably be expected to result in a Material Adverse Effect, and
(d) has the power and authority to execute, deliver and perform its obligations under each of the Loan Documents and each other agreement or instrument contemplated thereby to which it is or will be a party and, in the case of the Borrower, to
borrow hereunder. 
 Section 3.02. Authorization. The Transactions (a) have been duly authorized by all
requisite corporate and, if required, stockholder action and (b) will not (i) violate (A) any provision of law, statute, rule or regulation, or of the certificate or articles of incorporation or other constitutive documents or by-laws
of Holdings, the Borrower or any Subsidiary, (B) any order of any Governmental Authority or (C) any provision of any indenture, agreement or other instrument to which Holdings, the Borrower or any Subsidiary is a party or by which any of
them or any of their property is or may be bound, (ii) be in conflict with, result in a breach of or constitute (alone or with notice or lapse of time or both) a default under, or give rise to any right to accelerate or to require the
prepayment, repurchase or redemption of any obligation under any such indenture, agreement or other instrument or (iii) result in the creation or imposition of any Lien upon or with respect to any property or assets now owned or hereafter
acquired by Holdings, the Borrower or any Subsidiary (other than any Lien created under the Security Documents, the ABL Documents or the Senior Secured Note Documents). 

Section 3.03. Enforceability. This Agreement has been duly executed and delivered by Holdings and the Borrower and
constitutes, and each other Loan Document when executed and delivered by each Loan Party party thereto will constitute, a legal, valid and binding obligation of such Loan Party enforceable against such Loan Party in accordance with its terms, except
as may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws relating to or limiting creditor’s rights generally or by equitable principles relating to enforceability. 

 

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 Section 3.04. Governmental Approvals. No action, consent or approval of,
registration or filing with or any other action by any Governmental Authority is or will be required in connection with the Transactions, except for (a) the filing of Uniform Commercial Code financing statements and filings with the United
States Patent and Trademark Office and the United States Copyright Office, (b) recordation of the Mortgages and (c) such as have been made or obtained and are in full force and effect. 

Section 3.05. Financial Statements. (a) The Borrower has heretofore furnished to the Lenders the consolidated
(and, to the extent available, consolidating) statements of financial position, operations, shareholders’ equity and comprehensive income and cash flows of Spectrum (i) as of and for the fiscal year ended September 30, 2009, the
fiscal year ended September 30, 2008 and the fiscal year ended September 30, 2007, in each case (other than in respect of any consolidating financial statements) audited by and accompanied by the opinion of KPMG LLP, independent public
accountants and (ii) as of and for the fiscal quarter and the portion of the fiscal year ended April 4, 2010, certified by its chief financial officer. Such financial statements present fairly the financial condition and results of
operations and cash flows of Spectrum and its consolidated subsidiaries as of such dates and for such periods. Such balance sheets and the notes thereto disclose all material liabilities, direct or contingent, of Spectrum and its consolidated
subsidiaries as of the dates thereof. Such financial statements were prepared in accordance with GAAP applied on a consistent basis, subject, in the case of unaudited financial statements, to year-end audit adjustments and the absence of footnotes.

 (a) The Borrower has heretofore furnished to the Lenders the consolidated (and, to the extent available, consolidating)
balance sheets and related statements of operations, stockholders’ equity and cash flows of Russell Hobbs (i) as of and for the fiscal year ended June 30, 2009, the fiscal year ended June 30, 2008 and the fiscal year ended
June 30, 2007, in each case (other than in respect of any consolidating financial statements) audited by and accompanied by the opinion of Grant Thornton LLP, independent public accountants and (ii) as of and for the fiscal quarter and the
portion of the fiscal year ended March 31, 2010, certified by its chief financial officer. Such financial statements present fairly the financial condition and results of operations and cash flows of Russell Hobbs and its consolidated
subsidiaries as of such dates and for such periods. Such balance sheets and the notes thereto disclose all material liabilities, direct or contingent, of Russell Hobbs and its consolidated subsidiaries as of the dates thereof. Such financial
statements were prepared in accordance with GAAP applied on a consistent basis, subject, in the case of unaudited financial statements, to year-end audit adjustments and the absence of footnotes. 

 

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 (b) The Borrower has heretofore delivered to the Lenders its unaudited pro forma
consolidated balance sheet and related pro forma statements of income, stockholder’s equity and cash flows as of and for the 12-month period ended March 31, 2010, prepared giving effect to the Transactions as if they had occurred, with
respect to such balance sheet, on such date and, with respect to such other financial statements, on the first day of the 12-month period ending on such date. Such pro forma financial statements have been prepared in good faith by the Borrower,
based on the assumptions used to prepare the pro forma financial information contained in the Confidential Information Memorandum (which assumptions are believed by the Borrower on the date hereof and on the Closing Date to be reasonable), are based
on the best information available to the Borrower as of the date of delivery thereof, accurately reflect all adjustments required to be made to give effect to the Transactions and present fairly on a pro forma basis the estimated consolidated
financial position of the Borrower and its consolidated Subsidiaries as of such date and for such period, assuming that the Transactions had actually occurred at such date or at the beginning of such period, as the case may be. 

Section 3.06. No Material Adverse Change. No event, change or condition has occurred that has had, or could reasonably be
expected to have, a material adverse effect on the business, assets, liabilities, operations, condition (financial or otherwise), operating results or prospects of Holdings, the Borrower and the Subsidiaries, taken as a whole, since April 4,
2010. 
 Section 3.07. Title to Properties; Possession Under Leases. (a) Each of Holdings, the Borrower
and the Subsidiaries has good and marketable title to, or valid leasehold interests in, all its material properties and assets (including all Mortgaged Property), except for minor defects in title that do not interfere with its ability to conduct
its business in substantially the same manner as currently conducted or to utilize such properties and assets for their intended purposes. All such material properties and assets are free and clear of Liens, other than Liens permitted by
Section 6.02. 
 (a) Each of Holdings, the Borrower and the Subsidiaries has complied in all material respects with all
material obligations under all Material Leases to which it is a party and all such leases are in full force and effect. Each of Holdings, the Borrower and the Subsidiaries enjoys peaceful and undisturbed possession under all such Material Leases.

 (b) As of the Closing Date, neither Holdings nor the Borrower has received any notice of, nor has any knowledge of, any
pending or contemplated material condemnation proceeding affecting the Mortgaged Properties or any sale or disposition thereof in lieu of condemnation. 
  

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 (c) As of the Closing Date, none of Holdings, the Borrower or any of the Subsidiaries is
obligated under any right of first refusal, option or other contractual right to sell, assign or otherwise dispose of any Mortgaged Property or any interest therein. 

Section 3.08. Subsidiaries. Schedule 3.08 sets forth as of the Closing Date a list of all Subsidiaries and the
percentage ownership interest of Holdings or the Borrower therein. The shares of capital stock or other ownership interests so indicated on Schedule 3.08 are fully paid and non-assessable and are owned by Holdings or the Borrower, directly or
indirectly, free and clear of all Liens (other than Liens created under the Security Documents, the ABL Documents or the Senior Secured Note Documents). 

Section 3.09. Litigation; Compliance with Laws. (a) Except as set forth on Schedule 3.09, there are no
actions, suits or proceedings at law or in equity or by or before any Governmental Authority now pending or, to the knowledge of Holdings or the Borrower, threatened against or affecting Holdings or the Borrower or any Subsidiary or any business,
property or rights of any such Person (i) that involve any Loan Document or the Transactions or (ii) as to which there is a reasonable possibility of an adverse determination and that, if adversely determined, could reasonably be expected,
individually or in the aggregate, to result in a Material Adverse Effect. 
 (a) None of Holdings, the Borrower or any of the
Subsidiaries or any of their respective material properties or assets is in violation of, nor will the continued operation of their material properties and assets as currently conducted violate, any law, rule or regulation (including any zoning,
building, Environmental Law, ordinance, code or approval or any building permits) or any restrictions of record or agreements affecting the Mortgaged Property, or is in default with respect to any judgment, writ, injunction, decree or order of any
Governmental Authority, where such violation or default could reasonably be expected to result in a Material Adverse Effect. 

(b) Certificates of occupancy and permits are in effect for each Mortgaged Property as currently constructed. 

Section 3.10. Agreements. (a) None of Holdings, the Borrower or any of the Subsidiaries is a party to any
agreement or instrument or subject to any corporate restriction that has resulted or could reasonably be expected to result in a Material Adverse Effect. 

(a) None of Holdings, the Borrower or any of the Subsidiaries is in default in any manner under any provision of any indenture or other
agreement or instrument evidencing Indebtedness, or any other material agreement or instrument to which it is a party or by which it or any of its properties or assets are or may be bound, where such default could reasonably be expected to result in
a Material Adverse Effect. 
  

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 Section 3.11. Federal Reserve Regulations. (a) None of Holdings, the
Borrower or any of the Subsidiaries is engaged principally, or as one of its important activities, in the business of extending credit for the purpose of buying or carrying Margin Stock. 

(a) No part of the proceeds of any Term Loan will be used, whether directly or indirectly, and whether immediately, incidentally or
ultimately, for any purpose that entails a violation of, or that is inconsistent with, the provisions of the Regulations of the Board, including Regulation T, U or X. 

Section 3.12. Investment Company Act. None of Holdings, the Borrower or any Subsidiary is or is required to be registered as
an “investment company” as defined in, or subject to regulation under, the Investment Company Act of 1940. 

Section 3.13. Use of Proceeds. The Borrower will (a) use the proceeds of the Term Loans only for the purposes specified
in the introductory statement to this Agreement and (b) use the proceeds of Incremental Term Loans only for the purposes specified in the applicable Incremental Term Loan Assumption Agreement. 

Section 3.14. Tax Returns. Each of Holdings, the Borrower and the Subsidiaries has filed or caused to be filed all material
Federal, state, local and foreign tax returns or materials required to have been filed by it and has paid or caused to be paid all taxes due and payable by it on such returns, except taxes that are being contested in good faith by appropriate
proceedings and for which Holdings, the Borrower or such Subsidiary, as applicable, shall have set aside on its books adequate reserves. 

Section 3.15. No Material Misstatements. None of (a) the Confidential Information Memorandum or (b) any other
information, report, financial statement, exhibit or schedule furnished by or on behalf of Holdings or the Borrower to the Administrative Agent or any Lender in connection with the negotiation of any Loan Document or included therein or delivered
pursuant thereto, taken as a whole, contained, contains or will contain any material misstatement of fact or omitted, omits or will omit to state any material fact necessary to make the statements therein, in the light of the circumstances under
which they were, are or will be made, not materially misleading; provided that to the extent any such information, report, financial statement, exhibit or schedule was based upon or constitutes a forecast or projection, each of Holdings and
the Borrower represents only that it acted in good faith and utilized reasonable assumptions (based upon accounting principles consistent with the historical audited financial statements of the Borrower) and due care in the preparation of such
information, report, financial statement, exhibit or schedule. 
  

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 Section 3.16. Employee Benefit Plans. (a) Each Plan is in compliance
in all material respects with the applicable provisions of ERISA and the Code except for non-compliances which, in the aggregate, would not have a Material Adverse Effect. Except as set forth in Schedule 3.16, no ERISA Event has occurred within
the past five years or is reasonably expected to occur that, when taken together with all other such ERISA Events, could reasonably be expected to have a Material Adverse Effect. As of the Closing Date, the present value of all benefit liabilities
of all underfunded Plans (based on the assumptions used for purposes of Statement of Financial Accounting Standards No. 87) did not, as of the last annual valuation dates applicable thereto, exceed by more than $20,000,000 the fair market value
of the assets of all such underfunded Plans. 
 (a) Each Foreign Pension Plan is in compliance in all material respects with all
requirements of law applicable thereto and the respective requirements of the governing documents for such plan except for non-compliances which, in the aggregate, would not have a Material Adverse Effect. With respect to each Foreign Pension Plan,
none of Holdings, its Affiliates or any of their respective directors, officers, employees or agents has engaged in a transaction which would subject Holdings, the Borrower or any Subsidiary, directly or indirectly, to a tax or civil penalty which
could reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect. As of the Closing Date, the present value of the aggregate accumulated benefit liabilities of all such Foreign Pension Plans (based on those
assumptions used to fund each such Foreign Pension Plan) did not, as of the last annual valuation date applicable thereto, exceed by more than $75,000,000 the fair market value of the assets of all such Foreign Pension Plans. 

Section 3.17. Environmental Matters. (a) Except as set forth in Schedule 3.17 and except with respect to any other
matters that, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect, none of Holdings, the Borrower or any of the Subsidiaries (i) has failed to comply with any Environmental Law or to obtain,
maintain or comply with any permit, license or other approval required under any Environmental Law, (ii) has become subject to any Environmental Liability, (iii) has received notice of any claim with respect to any Environmental Liability
or (iv) knows of any basis for any Environmental Liability. 
 (a) Since the date of this Agreement, there has been no
change in the status of the matters disclosed on Schedule 3.17 that, individually or in the aggregate, has resulted in, or materially increased the likelihood of, a Material Adverse Effect. 

Section 3.18. Insurance. Schedule 3.18 sets forth a true, complete and correct description of all insurance maintained
by the Borrower or by the Borrower for the Subsidiaries as of the date hereof and the Closing Date. As of each such date, such insurance is in full force and effect and all premiums have been duly paid. The Borrower and the Subsidiaries have
insurance in such amounts and covering such risks and liabilities as are in accordance with normal industry practice. 
  

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 Section 3.19. Security Documents. (a) The Security Agreement, upon
execution and delivery thereof by the parties thereto, will create in favor of the Collateral Trustee, for the ratable benefit of the Secured Parties, a legal, valid and enforceable security interest in the Collateral (as defined in the Security
Agreement) and the proceeds thereof and (i) when the Pledged Collateral (as defined in the Security Agreement) is delivered to the Collateral Trustee, the Lien created under Security Agreement shall constitute a fully perfected and, subject to
the ABL Intercreditor Agreement, first priority Lien on, and security interest in, all right, title and interest of the Loan Parties in such Pledged Collateral, in each case prior and superior in right to any other Person (other than as set forth in
the ABL Intercreditor Agreement and Liens permitted hereby), and (ii) when financing statements in appropriate form are filed in the offices specified on Schedule 3.19(a), the Lien created under the Security Agreement with respect to
Collateral that may be perfected by filing a financing statement will constitute a fully perfected Lien on, and security interest in, all right, title and interest of the Loan Parties in such Collateral (other than Intellectual Property, as defined
in the Security Agreement), in each case prior and superior in right to any other Person, other than with respect to Liens permitted by Section 6.02 that by operation of law or contract are prior and superior in right to the Liens securing the
Obligations. 
 (a) Upon the recordation of the Security Agreement (or a short-form security agreement in form and substance
reasonably satisfactory to the Borrower and the Collateral Trustee) with the United States Patent and Trademark Office and the United States Copyright Office, together with the financing statements in appropriate form filed in the offices specified
on Schedule 3.19(a), the Lien created under the Security Agreement shall constitute a fully perfected Lien on, and security interest in, all right, title and interest of the Loan Parties in the Intellectual Property (as defined in the Security
Agreement) in which a security interest may be perfected by filing in the United States and its territories and possessions, in each case prior and superior in right to any other Person (it being understood that subsequent recordings in the United
States Patent and Trademark Office and the United States Copyright Office may be necessary to perfect a Lien on registered trademarks and patents, trademark and patent applications and registered copyrights acquired by the Loan Parties after the
date hereof). 
 (b) The Mortgages are effective to create in favor of the Collateral Trustee, for the ratable benefit of the
Secured Parties, a legal, valid and enforceable Lien on all of the Loan Parties’ right, title and interest in and to the Mortgaged Property thereunder and the proceeds thereof, and when the Mortgages are filed in the offices specified on
Schedule 3.19(c), the Mortgages shall constitute a fully perfected Lien on, and security interest in, all right, title 
  

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and interest of the Loan Parties in such Mortgaged Property and the proceeds thereof, in each case prior and superior in right to any other Person, other than with respect to the rights of
Persons pursuant to Liens permitted by Section 6.02 that by operation of law or contract are prior and superior in right to the Liens securing the Obligations and except for any Liens or encumbrances shown on title insurance policies.

 Section 3.20. Location of Real Property and Leased Premises. (a) Schedule 3.20(a) lists
completely and correctly as of the Closing Date all real property owned by the Loan Parties with a fair market value greater than $2,000,000 (each, a “Material Owned Real Property”) and the addresses thereof. The Loan Parties own in
fee all the real property set forth on Schedule 3.20(a). 
 (a) Schedule 3.20(b) lists completely and correctly as of
the Closing Date all real property leased by the Loan Parties that is material to the business or operations of the Loan Parties and could not be readily replaced on terms not materially less favorable to the lessee (each, a “Material
Lease”) and the addresses thereof. The Loan Parties have valid leases in all the real property set forth on Schedule 3.20(b). 

Section 3.21. Labor Matters. As of the date hereof and the Closing Date, there are no strikes, lockouts or slowdowns against
Holdings, the Borrower or any Subsidiary pending or, to the knowledge of Holdings or the Borrower, threatened except as could not reasonably be expected to have a Material Adverse Effect. The hours worked by and payments made to employees of
Holdings, the Borrower and the Subsidiaries within the past five years have not been in violation of the Fair Labor Standards Act or any other applicable Federal, state, local or foreign law dealing with such matters except as could not reasonably
be expected to have a Material Adverse Effect. Except as set forth on Schedule 3.21, the consummation of the Transactions will not give rise to any right of termination or right of renegotiation on the part of any union under any collective
bargaining agreement to which Holdings, the Borrower or any Subsidiary is bound. 
 Section 3.22. Solvency.
Immediately after the consummation of the Transactions to occur on the Closing Date and immediately following the making of each Term Loan and after giving effect to the application of the proceeds of each Term Loan, Holdings and its
subsidiaries, taken as a whole, are Solvent. 
 Section 3.23. Transaction Documents. Neither Holdings, the Borrower
nor any Loan Party or, to the knowledge of Holdings, the Borrower or each Loan Party, any other Person party thereto is in default in the performance or compliance with any material provisions of the Merger Agreement (including all schedules,
exhibits, amendments, supplements and modifications thereto). The Merger Agreement complies in all material respects with all applicable laws. 
  

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 Section 3.24. Senior Indebtedness. The Obligations constitute “Senior
Debt” under and as defined in the Subordinated Note Documents. 
 Section 3.25. Sanctioned Persons. None of
Holdings, the Borrower or any Subsidiary nor, to the knowledge of the Borrower, any director, officer, agent, employee or Affiliate of Holdings, the Borrower or any Subsidiary is currently subject to any U.S. sanctions administered by the Office of
Foreign Assets Control of the U.S. Treasury Department (“OFAC”); and the Borrower will not directly or indirectly use the proceeds of the Term Loans or otherwise make available such proceeds to any Person, for the purpose of
financing the activities of any Person currently subject to any U.S. sanctions administered by OFAC. 
 Section 3.26.
Foreign Corrupt Practices Act. Each of Holdings and the Borrower and their respective directors, officers, agents, employees, and any person acting for or on behalf of Holdings or the Borrower has complied with, and will comply with, the U.S.
Foreign Corrupt Practices Act, as amended from time to time, or any other applicable anti-bribery or anti-corruption law, and it and they have not made, offered, promised, or authorized, and will not make, offer, promise or authorize, whether
directly or indirectly, any payment of anything of value to: (a) an executive, official, employee or agent of a governmental department. agency or instrumentality, (b) a director, officer. employee or agent of a wholly or partially
government-owned or -controlled company or business, (c) a political party or official thereof, or candidate for political office or (d) an executive, official. employee or agent of a public international organization (e.g., the
International Monetary Fund or the World Bank) (“Government Official”) while knowing or having a reasonable belief that all or some portion will be used for the purpose of: (i) influencing any act. decision or failure to act by
a Government Official in his or her official capacity, (ii) inducing a Government Official to use his or her influence with a government or instrumentality to affect any act or decision of such government or entity or (iii) securing an
improper advantage; in order to obtain, retain. or direct business. 
 ARTICLE 4 

CONDITIONS OF LENDING 

The obligations of the Lenders to make Term Loans hereunder are subject to the satisfaction of the following conditions: 

Section 4.01. All Credit Events. On the date of each Borrowing (other than a conversion or a continuation of a Borrowing)
(each such event being called a “Credit Event”): 
 (a) The Administrative Agent shall have received a notice
of such Borrowing as required by Section 2.03. 
  

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 (b) The representations and warranties set forth in Article 3 and in each other Loan
Document shall be true and correct in all material respects on and as of the date of such Credit Event with the same effect as though made on and as of such date, except to the extent such representations and warranties expressly relate to an
earlier date; provided that the only representations relating to Spectrum and its business on the one hand and Russell Hobbs and its business on the other hand, the making of which shall be a condition to a Credit Event on the Closing Date
shall be (i) such of the representations made by or on behalf of Spectrum or Russell Hobbs, as the case may be, in the Merger Agreement as are material to the interests of the Lenders, but only to the extent that a condition to the obligations
of Russell Hobbs or Spectrum, as the case may be, to consummate the transactions contemplated by the Merger Agreement is not, prior to the time that Russell Hobbs or Spectrum, as the case may be, would have the right to terminate the Merger
Agreement, satisfied as a result of a breach of such representations in the Merger Agreement and (ii) the representations and warranties set forth in Sections 3.01, 3.02, 3.03, 3.11, 3.12, 3.19, 3.22 and 3.24 of this Agreement. 

(c) At the time of and immediately after such Credit Event (and subject to the proviso to paragraph (b) above in the case of a
Credit Event on the Closing Date), no Default or Event of Default shall have occurred and be continuing. 
 Each Credit Event
shall be deemed to constitute a representation and warranty by the Borrower and Holdings on the date of such Credit Event as to the matters specified in paragraphs (b) and (c) of this Section 4.01. 

Section 4.02. First Credit Event. On the Closing Date: 

(a) The Administrative Agent shall have received, on behalf of itself, the Lenders and the Collateral Trustee, a favorable written
opinion of (i) Sutherland Asbill & Brennan LLP, counsel for Holdings and the Borrower, substantially to the effect set forth in Exhibit J-1, and (ii) each local counsel listed on Schedule 4.02(a), substantially to the
effect set forth in Exhibit J-2, in each case (A) dated the Closing Date and (B) addressed to the Administrative Agent, the Lenders and the Collateral Trustee, and Holdings and the Borrower hereby request such counsel to deliver such
opinions. 
 (b) The Administrative Agent shall have received (i) a copy of the certificate or articles of incorporation or
equivalent organizational document, including all amendments thereto, of each Loan Party, certified as of a recent date by the Secretary of State of the state of its organization, and a certificate as to the good standing of each Loan Party as of a
recent date, from such Secretary of State; (ii) a certificate of the Secretary or Assistant Secretary of each Loan Party dated the Closing Date and certifying (A) that attached thereto is a true and complete copy of the by-laws, operating
agreement or similar governing document of such Loan Party as in effect on the Closing Date and at all times since a date prior to 

 

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the date of the resolutions described in clause (B) below, (B) that attached thereto is a true and complete copy of resolutions duly adopted by the Board of Directors of such Loan Party
authorizing the execution, delivery and performance of the Loan Documents to which such Person is a party and, in the case of the Borrower, the borrowings hereunder, and that such resolutions have not been modified, rescinded or amended and are in
full force and effect, (C) that the certificate or articles of incorporation of such Loan Party have not been amended since the date of the last amendment thereto shown on the certificate of good standing furnished pursuant to clause
(i) above, and (D) as to the incumbency and specimen signature of each officer executing any Loan Document or any other document delivered in connection herewith on behalf of such Loan Party; (iii) a certificate of another officer as
to the incumbency and specimen signature of the Secretary or Assistant Secretary executing the certificate pursuant to clause (ii) above; and (iv) such other documents as the Administrative Agent may reasonably request. 

(c) The Administrative Agent shall have received a certificate, dated the Closing Date and signed by a Financial Officer of the Borrower,
confirming compliance with the conditions precedent set forth in paragraphs (b) and (c) of Section 4.01. 
 (d)
The Administrative Agent, the Collateral Trustee, the Lead Arrangers and the Lenders shall have received all applicable Fees and other amounts due and payable on or prior to the Closing Date, including, to the extent invoiced, reimbursement or
payment of all out of pocket expenses required to be reimbursed or paid by the Borrower hereunder or under any other Loan Document. 

(e) (i) Holdings Guaranty and the Subsidiary Guaranty shall have been duly executed by each Loan Party that is to be a party
thereto, (ii) the Security Documents shall have been duly executed by the Collateral Trustee and each Loan Party that is to be a party thereto and (iii) the ABL Intercreditor Agreement and the Collateral Trust Agreement shall have been
duly executed by each Person that is to be a party thereto and, in each case, shall be in full force and effect on the Closing Date. Upon the proper filing and recordation, as applicable, of financing statements and other Security Documents, the
Collateral Trustee on behalf of the Secured Parties will have a perfected security interest in the Collateral of the type and priority described in each Security Document. 

(f) The Collateral Trustee shall have received a Perfection Certificate with respect to the Loan Parties dated the Closing Date and duly
executed by a Responsible Officer of Holdings and the Borrower, and shall have received the results of a search of the Uniform Commercial Code filings (or equivalent filings) made with respect to the Loan Parties in the states (or other
jurisdictions) of formation of such Persons, in which the chief executive office of each such Person is located and in the other jurisdictions in which such Persons maintain property, in each case as indicated on such Perfection Certificate,
together with copies of the financing statements (or similar documents) disclosed by such search, and accompanied by evidence satisfactory to the Collateral Trustee that the Liens indicated in any such financing statement (or similar document) would
be permitted under Section 6.02 or have been or will be contemporaneously released or terminated. 
  

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 (g) (i) Each of the Security Documents, in form and substance reasonably satisfactory
to the Administrative Agent, relating to each of the Mortgaged Properties shall have been duly executed by the parties thereto and delivered to the Collateral Trustee and shall be in full force and effect, (ii) each of such Mortgaged Properties
shall not be subject to any Lien other than those permitted under Section 6.02, (iii) (A) each of such Security Documents shall have been filed and recorded in the recording office as specified on Schedule 3.19(c) and, in connection
therewith, the Collateral Trustee shall have received evidence satisfactory to it of each such filing and recordation or (B) a lender’s title insurance policy, in form and substance acceptable to the Collateral Trustee, insuring such
Security Document as a first lien on such Mortgaged Property (subject to any Lien permitted by Section 6.02) shall have been received by the Collateral Trustee, and (iv) the Collateral Trustee shall have received such other documents,
including a policy or policies of title insurance issued by a nationally recognized title insurance company in an amount not to exceed 110% of the fair market value of such mortgaged property, together with such endorsements, coinsurance and
reinsurance as may be reasonably requested by the Collateral Trustee and the Lenders, insuring the Mortgages as valid first liens on the Mortgaged Properties, free of Liens other than those permitted under Section 6.02, together with such
surveys and legal opinions required to be furnished pursuant to the terms of the Mortgages or as reasonably requested by the Collateral Trustee or the Administrative Agent. 

(h) The Administrative Agent shall have received a copy of, or a certificate as to coverage under, the insurance policies required by
Section 5.02 and the applicable provisions of the Security Documents, each of which shall be endorsed or otherwise amended to include a customary lender’s loss payable endorsement and to name the Collateral Trustee as additional insured,
in form and substance reasonably satisfactory to the Administrative Agent. 
 (i) The Acquisition shall have been, or
substantially simultaneously with the initial funding of Term Loans on the Closing Date shall be, consummated in accordance with applicable law and on the terms described in the Merger Agreement, without giving effect to any amendments thereto or
waivers or consents that, in any such case, are materially adverse to the Lenders without the consent of the Lead Arrangers (such consent not to be unreasonably withheld or delayed). The Administrative Agent shall have received copies of the Merger
Agreement (including all schedules, exhibits, amendments, supplements and modifications thereto) and all certificates, opinions and other documents delivered thereunder, certified by a Financial Officer as being complete and correct. 

 

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 (j) The Borrower shall have received gross cash proceeds of not less than $750,000,000 from
the issuance of the Senior Secured Notes. The terms and conditions of the Senior Secured Notes and the provisions of the Senior Secured Note Documents to the extent not consistent with the terms of the Commitment Letter dated as of February 9,
2010 shall be satisfactory to the Administrative Agent and the Lead Arrangers. The Administrative Agent shall have received copies of the Senior Secured Note Documents, certified by a Financial Officer as being complete and correct. 

(k) The ABL Credit Agreement shall have become effective and the Borrower shall have borrowed not more than $100,000,000 in revolving
loans thereunder. The terms and conditions of the ABL Credit Agreement and the provisions of the ABL Documents to the extent not consistent with the terms of the Commitment Letter dated as of February 9, 2010 shall be satisfactory to the
Administrative Agent and the Lead Arrangers. The Administrative Agent shall have received copies of the ABL Documents, certified by a Financial Officer as being complete and correct. 

(l) All principal, premium, if any, interest, fees and other amounts due or outstanding under the Existing Credit Facilities shall have
been paid in full, the commitments thereunder terminated and all guarantees and security in support thereof discharged and released, and the Administrative Agent shall have received reasonably satisfactory evidence thereof. Immediately after giving
effect to the Transactions and the other transactions contemplated hereby, Holdings, the Borrower and the Subsidiaries shall have outstanding no Indebtedness or preferred stock other than (a) Indebtedness outstanding under this Agreement,
(b) the Senior Secured Notes, (c) Indebtedness outstanding under the ABL Credit Agreement, (d) the Subordinated Notes and (e) Indebtedness set forth on Schedule 6.01. 

(m) The Lenders shall have received the financial statements and opinion referred to in, and prepared in accordance with,
Section 3.05, none of which shall demonstrate a material adverse change in the financial condition of the Borrower or Russell Hobbs from (and shall not otherwise be materially inconsistent with) the financial statements or forecasts previously
provided to the Lenders. 
 (n) The Administrative Agent shall have received a certificate from the chief financial officer of
Holdings in form and substance reasonably satisfactory to the Administrative Agent and the Lead Arrangers certifying that Holdings and its subsidiaries, on a consolidated basis after giving effect to the Transactions to occur on the Closing Date,
are Solvent. 
  

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 (o) All requisite Governmental Authorities and third parties shall have approved or
consented to the Transactions and the other transactions contemplated hereby to the extent required, all applicable appeal periods shall have expired and there shall not be any pending or threatened litigation, governmental, administrative or
judicial action that could reasonably be expected to restrain, prevent or impose burdensome conditions on the Transactions or the other transactions contemplated hereby. 

(p) The Lenders shall have received at least 5 Business Days prior to the Closing Date (unless otherwise agreed by the Lead Arrangers),
to the extent requested, all documentation and other information required by regulatory authorities under applicable “know your customer” and anti-money laundering rules and regulations, including the USA PATRIOT Act. 

(q) The Administrative Agent and the Lead Arrangers shall be satisfied that the ratio of (i) Total Debt (excluding Subordinated
Notes) as of the Closing Date after giving effect to the Transactions to (ii) Consolidated EBITDA for the period of four consecutive fiscal quarters mostly recently ended prior to the Closing Date (prepared in accordance with Regulation S-X
under the Securities Act of 1933, as amended, in form and substance reasonably satisfactory to the Administrative Agent and the Lead Arrangers, and with such further adjustments as set forth in a schedule previously agreed to by the Administrative
Agent, the Lead Arrangers and the Borrower, in each case to give pro forma effect to the Transactions as if they had occurred at the beginning of such four-fiscal quarter period), shall be no more than 3.8:1.0. 

(r) The Borrower shall have received a public corporate credit rating of B- or higher by S&P and a public corporate family rating of
B3 or higher by Moody’s, in each case with no negative outlook, and each of the Term Facility and the Senior Secured Notes shall have received a rating of B- or higher by S&P and B3 or higher from Moody’s, in each case with no negative
outlook. 
 (s) There shall not have occurred any event, change or condition (i) since June 30, 2009 that,
individually or in the aggregate has had, or could reasonably be expected to have, a Closing Date Russell Hobbs Material Adverse Effect and (ii) since September 30, 2009 that, individually or in the aggregate has had, or could reasonably
be expected to have, a Closing Date Spectrum Material Adverse Effect. 
 ARTICLE 5 

AFFIRMATIVE COVENANTS 

Each of Holdings and the Borrower covenants and agrees with each Lender that so long as this Agreement shall remain in effect and until
the Commitments have been terminated and the principal of and interest on each Loan, all Fees and all other expenses or amounts payable under any Loan Document shall have been paid in full, unless the Required Lenders shall otherwise consent in
writing, each of Holdings and the Borrower will, and (except in the case of Section 5.04) will cause each of the Subsidiaries to: 

Section 5.01. Existence; Compliance with Laws; Businesses and Properties. (a) Do or cause to be done all things
necessary to preserve, renew and keep in full force and effect its legal existence, except as otherwise expressly permitted under Section 6.05. 
  

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 (a) Do or cause to be done all things necessary to obtain, preserve, renew, extend and keep
in full force and effect the rights, licenses, permits, franchises, authorizations, patents, copyrights, trademarks and trade names material to the conduct of its business; comply in all material respects with all material applicable laws, rules,
regulations and decrees and orders of any Governmental Authority, whether now in effect or hereafter enacted; and at all times maintain and preserve all property material to the conduct of such business and keep such property in good repair, working
order and condition and from time to time make, or cause to be made, all needful and proper repairs, renewals, additions, improvements and replacements thereto necessary in order that the business carried on in connection therewith may be properly
conducted at all times. 
 Section 5.02. Insurance. (a) Keep its insurable properties adequately insured at all
times by financially sound and reputable insurers in such amounts as shall be customary for similar businesses and maintain such other reasonable insurance (including, to the extent consistent with past practices, self-insurance), of such types, to
such extent and against such risks, as is customary with companies in the same or similar businesses and maintain such other insurance as may be required by law or any other Loan Document. 

(a) Cause all such policies covering any Collateral to be endorsed or otherwise amended to include a customary lender’s loss payable
endorsement, in form and substance reasonably satisfactory to the Administrative Agent and the Collateral Trustee, which endorsement shall provide that, subject to the Intercreditor Agreements from and after the Closing Date, if the insurance
carrier shall have received written notice from the Administrative Agent or the Collateral Trustee of the occurrence of an Event of Default, the insurance carrier shall pay all proceeds otherwise payable to the Borrower or the Loan Parties under
such policies directly to the Collateral Trustee; cause all such policies to provide that neither the Borrower, the Administrative Agent, the Collateral Trustee nor any other party shall be a coinsurer thereunder and to contain a “Replacement
Cost Endorsement”, without any deduction for depreciation, and such other provisions as the Administrative Agent or the Collateral Trustee may reasonably require from time to time to protect their interests; deliver original or certified copies
of all such policies to the Collateral Trustee; cause each such policy to provide that it shall not be canceled, modified or not renewed (i) by reason of nonpayment of premium upon not less than 10 days’ prior written notice thereof by the
insurer to 
  

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the Administrative Agent and the Collateral Trustee (giving the Administrative Agent and the Collateral Trustee the right to cure defaults in the payment of premiums) or (ii) for any other
reason upon not less than 30 days’ prior written notice thereof by the insurer to the Administrative Agent and the Collateral Trustee; deliver to the Administrative Agent and the Collateral Trustee, prior to the cancellation, modification or
nonrenewal of any such policy of insurance, a copy of a renewal or replacement policy (or other evidence of renewal of a policy previously delivered to the Administrative Agent and the Collateral Trustee) together with evidence satisfactory to the
Administrative Agent and the Collateral Trustee of payment of the premium therefor. 
 (b) If at any time the area in which the
Premises (as defined in the Mortgages) are located is designated (i) a “flood hazard area” in any Flood Insurance Rate Map published by the Federal Emergency Management Agency (or any successor agency), obtain flood insurance in such
total amount as the Administrative Agent, the Collateral Trustee or the Required Lenders may from time to time require, and otherwise comply with the National Flood Insurance Program as set forth in the Flood Disaster Protection Act of 1973, as it
may be amended from time to time, or (ii) a “Zone 1” area, obtain earthquake insurance in such total amount as the Administrative Agent, the Collateral Trustee or the Required Lenders may from time to time require. 

(c) With respect to any Mortgaged Property, carry and maintain comprehensive general liability insurance including the “broad form
CGL endorsement” and coverage on an occurrence basis against claims made for personal injury (including bodily injury, death and property damage) and umbrella liability insurance against any and all claims, in no event for a combined single
limit of less than that which is customary for companies in the same or similar businesses operating in the same or similar locations, naming the Collateral Trustee as an additional insured, on forms reasonably satisfactory to the Collateral
Trustee. 
 (d) Notify the Administrative Agent and the Collateral Trustee promptly whenever any separate insurance concurrent
in form or contributing in the event of loss with that required to be maintained under this Section 5.02 is taken out by any Loan Party; and promptly deliver to the Administrative Agent and the Collateral Trustee a duplicate original copy of
such policy or policies. 
 Section 5.03. Obligations and Taxes. Pay its material Indebtedness and other material
obligations promptly and in accordance with their terms and pay and discharge promptly when due all taxes, fees, assessments and governmental charges or levies imposed upon it or upon its income or profits or in respect of its property, before the
same shall become delinquent or in default, as well as all lawful claims for labor, materials and supplies or otherwise that, if unpaid, might give rise to a Lien upon such properties or any part thereof; provided, however, that such payment
and discharge shall not be required with respect to any such 
  

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Indebtedness, obligation, tax, assessment, charge, levy or claim so long as the validity or amount thereof shall be contested in good faith by appropriate proceedings and the Borrower shall have
set aside on its books adequate reserves with respect thereto in accordance with GAAP and such contest operates to suspend collection of the contested obligation, tax, assessment or charge and enforcement of a Lien and, in the case of a Mortgaged
Property, there is no risk of forfeiture of such property during the pendency of such contest. 
 Section 5.04.
Financial Statements, Reports, etc. In the case of the Borrower, furnish to the Administrative Agent, which shall furnish to each Lender: 

(a) within the later of (i) 90 days after the end of each fiscal year or (ii) by the date the following statements would have
been required to be filed under the rules and regulations of the SEC, giving effect to any automatic extension available under Rule 12b-25 of the Securities Exchange Act of 1934 for the filing of such statements), its statements of financial
position, operations, shareholders’ equity and comprehensive income and cash flows showing the financial condition of the Borrower and its consolidated Subsidiaries as of the close of such fiscal year and the results of its operations and the
operations of such Subsidiaries during such year, together with comparative figures for the immediately preceding fiscal year, all audited by KPMG, LLP or other independent public accountants of recognized national standing and accompanied by an
opinion of such accountants (which opinion shall be without a “going concern” or like qualification or exception and without any qualification or exception as to the scope of such audit) to the effect that such consolidated financial
statements fairly present the financial condition and results of operations of the Borrower and its consolidated Subsidiaries on a consolidated basis in accordance with GAAP consistently applied, together with a customary “management discussion
and analysis” provision; 
 (b) within the later of (i) 45 days after the end of each of the first three fiscal
quarters of each fiscal year or (ii) by the date the following statements would have been required to be filed under the rules and regulations of the SEC, giving effect to any automatic extension available under Rule 12b-25 of the Securities
Exchange Act of 1934 for the filing of such statements), its consolidated statements of financial position, operations and cash flows showing the financial condition of the Borrower and its consolidated Subsidiaries as of the close of such fiscal
quarter and the results of its operations and the operations of such Subsidiaries during such fiscal quarter and the then elapsed portion of the fiscal year, and, other than with respect to quarterly reports during the remainder of the first fiscal
year after the Closing Date, comparative figures for the same periods in the immediately preceding fiscal year, all certified by one of its Financial Officers as fairly presenting the financial condition and results of operations of the Borrower and
its consolidated Subsidiaries on a consolidated basis in accordance with GAAP consistently applied, subject to normal year-end audit adjustments, together with a customary “management discussion and analysis” provision; 

 

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 (c) concurrently with any delivery of financial statements under paragraph (a) or
(b) above, a certificate of a Financial Officer in the form of Exhibit K (i) certifying that no Event of Default or Default has occurred or, if such an Event of Default or Default has occurred, specifying the nature and extent thereof
and any corrective action taken or proposed to be taken with respect thereto and (ii) setting forth computations in reasonable detail demonstrating compliance with the covenants contained in Sections 6.10, 6.11 and 6.12 and, in the case of
a certificate delivered with the financial statements required by paragraph (a) above, setting forth the Borrower’s calculation of Excess Cash Flow; 

(d) concurrently with any delivery of financial statements under clause (a) above, a certificate of the accounting firm that
reported on such statements (which certificate may be limited to accounting matters and disclaim responsibility for legal interpretations) certifying that as of the last day of the immediately preceding fiscal year no Event of Default or Default has
occurred with respect to Sections 6.10, 6.11 and 6.12 or, if such an Event of Default or Default has occurred, specifying the extent thereof in reasonable detail. 

(e) within 90 days after the beginning of each fiscal year of the Borrower, a detailed consolidated budget for such fiscal year
(including a projected consolidated balance sheet and related statements of projected operations and cash flows as of the end of and for such fiscal year and setting forth the assumptions used for purposes of preparing such budget); 

(f) promptly after the same become publicly available, copies of, or links to copies of, all periodic and other reports, proxy statements
and other materials filed by Super Holdco, Holdings, the Borrower or any Subsidiary with the SEC, or any Governmental Authority succeeding to any or all of the functions of said Commission, or with any national securities exchange, or distributed to
its shareholders, as the case may be; 
 (g) promptly after the receipt thereof by Holdings or the Borrower or any of their
respective subsidiaries, a copy of any final “management letter” received by any such Person from its certified public accountants and the management’s response thereto; 

(h) concurrently with any delivery of monthly financial statements required to be delivered under the ABL Credit Agreement, copies of
such monthly financial statements; 
 (i) promptly after the request by any Lender, all documentation and other information that
such Lender reasonably requests in order to comply with its ongoing obligations under applicable “know your customer” and anti-money laundering rules and regulations, including the USA PATRIOT Act; and 

 

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 (j) promptly, from time to time, such other information regarding the operations, business
affairs and financial condition of Holdings, the Borrower or any Subsidiary, or compliance with the terms of any Loan Document, as the Administrative Agent or any Lender through the Administrative Agent may reasonably request. 

Documents required to be delivered pursuant to this Section 5.04 may be delivered electronically and, if so delivered, shall be deemed to have been
delivered to the Administrative Agent and the Lenders on the date on which (i) the Borrower posts such documents, or provides a link thereto, on its principal publicly accessible website or (ii) such documents are posted on the
Borrower’s behalf on an Internet or intranet website, if any, to which each Lender and the Administrative Agent have access (which may be a commercial or a third party website or a website sponsored by the Administrative Agent; provided
that the Borrower shall notify the Administrative Agent of the posting of any such documents and provide to the Administrative Agent by electronic mail electronic versions of such documents. 

Section 5.05. Litigation and Other Notices. Furnish to the Administrative Agent and each Lender prompt written notice of the
following: 
 (a) any Default or Event of Default, specifying the nature and extent thereof and the corrective action (if any)
taken or proposed to be taken with respect thereto; 
 (b) the occurrence of any “Default” or “Event of
Default” under and as each is defined in the ABL Credit Agreement, the Senior Secured Note Indenture or the Subordinated Note Documents; 

(c) the filing or commencement of, or any threat or notice of intention of any Person to file or commence, any action, suit or
proceeding, whether at law or in equity or by or before any Governmental Authority, against the Borrower or any Affiliate thereof that could reasonably be expected to result in a Material Adverse Effect; 

(d) (i) the occurrence of any ERISA Event that, alone or together with any other ERISA Events that have occurred, could reasonably be
expected to result in liability of the Borrower or any ERISA Affiliate in an aggregate amount exceeding $10,000,000 and (ii) the occurrence of any Foreign Benefit Event that, alone or together with any other Foreign Benefit Events that have
occurred, could reasonably be expected to result in a Material Adverse Effect, and in each case, Holdings, the Borrower or the applicable Subsidiary will also furnish to the Administrative Agent and each Lender a statement of its financial officer
setting forth the details as to such ERISA Event(s) or Foreign Benefit Event(s) (as applicable) and the action, if any, that such entity proposes to take with respect thereto; 

 

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 (e) any development that has resulted in, or could reasonably be expected to result in, a
Material Adverse Effect; 
 (f) any change in the Borrower’s corporate rating by S&P, in the Borrower’s corporate
family rating by Moody’s or in the ratings of the Term Facility by 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 or the Term Facility 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 the Borrower or the Term Facility; and 

(g) the occurrence of any material fraud that involves management employees who have a significant role in the internal controls over
financial reporting of the Loan Parties, in each case, as described in Securities Laws. 
 Section 5.06. Information
Regarding Collateral. (a) Furnish to the Administrative Agent prompt written notice of any change (i) in any Loan Party’s corporate name, (ii) in the jurisdiction of organization or formation of any Loan Party,
(iii) in any Loan Party’s identity or corporate structure or (iv) in any Loan Party’s Federal Taxpayer Identification Number. Holdings 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 Uniform Commercial Code or otherwise that are required in order for the Collateral Trustee to continue at all times following such change to have a valid, legal and perfected security interest in
all the Collateral. Holdings and the Borrower also agree promptly to notify the Administrative Agent if any material portion of the Collateral is damaged or destroyed. 

(a) In the case of the Borrower, each year, at the time of delivery of the annual financial statements with respect to the preceding
fiscal year pursuant to Section 5.04(a), deliver to the Administrative Agent a certificate of a Financial Officer setting forth the information required pursuant to Sections 1, 2(a), 2(c), and 7 through 14 of the Perfection Certificate or
confirming that there has been no change in such information since the date of the Perfection Certificate delivered on the Closing Date or the date of the most recent certificate delivered pursuant to this. 

Section 5.07. Maintaining Records; Access to Properties and Inspections; Maintenance of Ratings. (a) Keep all
financial records in accordance with GAAP. Each Loan Party will, and will cause each of its subsidiaries to, permit any representatives designated by the Administrative Agent or any Lender to visit and inspect the financial records and the
properties of such Person at reasonable times 
  

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and as often as reasonably requested and to make extracts from and copies of such financial records, and permit any representatives designated by the Administrative Agent or any Lender to discuss
the affairs, finances and condition of such Person with the officers thereof and independent accountants therefor; provided that, excluding any such visits and inspections during the continuation of an Event of Default, only the
Administrative Agent or its designee on behalf of the Lenders may exercise this right under this Section 5.07 and the Administrative Agent or its designee shall not exercise such rights more often than twice during any calendar year at the
Borrower’s expense. 
 (a) In the case of Holdings and the Borrower, use commercially reasonable efforts to maintain a
public rating of the Term Facility by each of S&P and Moody’s, and in the case of the Borrower, use commercially reasonable efforts to maintain a public corporate rating from S&P and a public corporate family rating from Moody’s,
in each case in respect of the Borrower. 
 Section 5.08. Use of Proceeds. Use the proceeds of the Term Loans only
for the purposes specified in the introductory statement to this Agreement. 
 Section 5.09. Employee Benefits.
Except for non-compliances which, in the aggregate, would not have a Material Adverse Effect, cause any: (a) Plans to be in compliance in all material respects with the applicable provisions of ERISA and the Code and (b) any Foreign
Pension Plans to be in compliance in all material respects with the laws applicable to any such Foreign Pension Plans. 

Section 5.10. Compliance with Environmental Laws. Comply, and cause all lessees and other Person occupying its properties to
comply, in all material respects with all Environmental Laws applicable to its operations and properties; obtain and renew all material environmental permits necessary for its operations and properties; and conduct any remedial action in accordance
in all material respects with Environmental Laws; provided, however, that none of Holdings, the Borrower or any Subsidiary shall be required to undertake any remedial action required by Environmental Laws to the extent that its obligation to
do so is being contested in good faith and by proper proceedings and appropriate reserves are being maintained with respect to such circumstances in accordance with GAAP. 

Section 5.11. Preparation of Environmental Reports. If a Default caused by reason of a breach of Section 3.17 or
Section 5.10 shall have occurred and be continuing for more than 20 days without Holdings, the Borrower or any Subsidiary commencing activities reasonably likely to cure such Default, at the written request of the Required Lenders through the
Administrative Agent, provide to the Lenders within 45 days after such request, at the expense of the Loan Parties, an environmental site assessment report regarding the matters which are the subject of such Default prepared by an environmental
consulting firm reasonably acceptable to the Administrative Agent and indicating the presence or absence of Hazardous Materials and the estimated cost of any compliance or remedial action in connection with such Default. 

 

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 Section 5.12. Further Assurances. Execute any and all further documents,
financing statements, agreements and instruments, and take all further action (including filing Uniform Commercial Code and other financing statements, mortgages and deeds of trust) that may be required under applicable law, or that the Required
Lenders, the Administrative Agent or the Collateral Trustee may reasonably request, in order to effectuate the transactions contemplated by the Loan Documents and in order to grant, preserve, protect and perfect the validity and first priority
(subject to the ABL Intercreditor Agreement and Liens permitted hereby) of the security interests created or intended to be created by the Security Documents. The Borrower will cause any subsequently acquired or organized Domestic Subsidiary to
become a Loan Party by executing (x) the Subsidiary Guaranty in favor of the Guaranteed Parties and the Security Agreement and (y) each applicable Security Document in favor of the Collateral Trustee. In addition, from time to time, the
Borrower will, at its cost and expense, promptly secure the Obligations by pledging or creating, or causing to be pledged or created, perfected security interests with respect to such of its assets and properties as the Administrative Agent or the
Required Lenders shall designate (it being understood that it is the intent of the parties that the Obligations shall be secured by substantially all the assets of the Borrower and its Domestic Subsidiaries (including Material Owned Real Property
and other properties acquired subsequent to the Closing Date)). Such security interests and Liens will be created under the Security Documents and other security agreements, mortgages, deeds of trust and other instruments and documents in form and
substance reasonably satisfactory to the Collateral Trustee, and the Borrower shall deliver or cause to be delivered to the Lenders all such instruments and documents (including legal opinions, title insurance policies, lien searches and appraisals
or other evidence of valuation) as the Collateral Trustee shall reasonably request to evidence compliance with this Section. The Borrower agrees to provide such evidence as the Collateral Trustee shall reasonably request as to the perfection and
priority status of each such security interest and Lien. In furtherance of the foregoing, the Borrower will give notice to the Administrative Agent of the acquisition by it or any of the Subsidiaries of any Material Owned Real Property not later
than ten (10) Business Days after such acquisition. 
 Section 5.13. Proceeds of Certain Dispositions. If, as a
result of the receipt of any cash proceeds by the Borrower or any Subsidiary in connection with any sale, transfer, lease or other disposition of any asset the Borrower would be required by the terms of the Subordinated Note Documents to make an
offer to purchase any Subordinated Notes, then, in the case of the Borrower or any Subsidiary, prior to the first day on which the Borrower would be required to commence such an offer to purchase, (i) prepay Term Loans in accordance with
Section 2.12 or (ii) acquire assets in a manner that is permitted hereby, in each case in a manner that will eliminate any such requirement to make such an offer to purchase. 

 

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 Section 5.14. Compliance with Terms of Material Leaseholds. Make all payments
and otherwise perform all obligations in respect of all material leases of real property to which Holdings, the Borrower or any of the Subsidiaries is a party, keep such leases in full force and effect and not allow such leases to lapse or be
terminated or any rights to renew such leases to be forfeited or cancelled except, in any case, where the failure to do so, either individually or in the aggregate, would not be reasonably likely to have a Material Adverse Effect. 

ARTICLE 6 

NEGATIVE COVENANTS 

Each of Holdings and the Borrower covenants and agrees with each Lender that, so long as this Agreement shall remain in effect and until
the Commitments have been terminated and the principal of and interest on each Term Loan, all Fees and all other expenses or amounts payable under any Loan Document have been paid in full unless the Required Lenders shall otherwise consent in
writing, neither Holdings nor the Borrower will, nor will they cause or permit any of the Subsidiaries to: 

Section 6.01. Indebtedness. Incur, create, assume or permit to exist any Indebtedness, except: 

(a) Indebtedness existing on the date hereof and set forth in Schedule 6.01 and any Permitted Refinancing thereof; 

(b) (i) Indebtedness created hereunder and under the other Loan Documents and (ii) any Permitted Refinancing thereof;
provided that any proceeds of such Permitted Refinancing shall be applied in accordance with Section 2.13(c); 
 (c)
Indebtedness under the ABL Credit Agreement in an aggregate principal amount not to exceed the sum of $300,000,000 and the Permitted Incremental Revolving Commitment Amount, and any Permitted Refinancing thereof; 

(d) Indebtedness under the Senior Secured Note Indenture and any Permitted Refinancing thereof; provided that the aggregate
principal amount of Indebtedness permitted by this Section 6.01(d), when combined with the aggregate amount of all Indebtedness incurred pursuant to Section 6.01(b) shall not exceed $1,600,000,000 at any time outstanding; 

 

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 (e) intercompany Indebtedness of the Borrower and the Subsidiaries to the extent permitted
by Section 6.04(c) so long as such Indebtedness is subordinated to the Obligations pursuant to an Affiliate Subordination Agreement; 

(f) Indebtedness of the Borrower or any Subsidiary incurred to finance the acquisition, construction or improvement of any fixed or
capital assets, and extensions, renewals and replacements of any such Indebtedness that do not increase the outstanding principal amount thereof; provided that (i) such Indebtedness is incurred prior to or within 180 days after such
acquisition or the completion of such construction or improvement and (ii) the aggregate principal amount of Indebtedness permitted by this Section 6.01(f), when combined with the aggregate principal amount of all Capital Lease Obligations
incurred pursuant to Section 6.01(g), shall not exceed $40,000,000 at any time outstanding; 
 (g) Capital Lease
Obligations in an aggregate principal amount, when combined with the aggregate principal amount of all Indebtedness incurred pursuant to Section 6.01(f), not in excess of $40,000,000 at any time outstanding; 

(h) Indebtedness under performance bonds or with respect to workers’ compensation claims, in each case incurred in the ordinary
course of business; 
 (i) Indebtedness incurred by Foreign Subsidiaries in an aggregate principal amount not exceeding
$75,000,000 at any time outstanding; and 
 (j) Indebtedness of any Person that becomes a Subsidiary after the date hereof;
provided that (i) such Indebtedness exists at the time such Persons becomes a Subsidiary and is not created in contemplation of or in connection with such Person becoming a Subsidiary and (ii) immediately after such Person becomes a
Subsidiary, no Default or Event of Default shall have occurred and be continuing; 
 (k)(i) Indebtedness representing
deferred compensation or equity based compensation to current or former officers, directors, consultants advisors or employees of Holdings, the Borrower, any of the Subsidiaries or any of their respective Affiliates incurred in the ordinary course
of business and (ii) Indebtedness consisting of obligations of Holdings, the Borrower or any of the Subsidiaries under deferred compensation or other similar arrangements incurred in connection with any investments, Loans, advances, Restricted
Payments or other disbursements permitted hereunder in an aggregate amount for this Section 6.01(k) not to exceed $15,000,000 outstanding at any time; 

(l) Indebtedness issued by Holdings, the Borrower or any of the Subsidiaries to current and former officers, directors, consultants,
advisors and employees of Holdings, the Borrower, any of the Subsidiaries or any of their respective Affiliates, in lieu of or combined with cash payments to finance the purchase of Equity Interests of Holdings, the Borrower, any of the Subsidiaries
or any of their respective Affiliates, in each case, to the extent such purchase is otherwise permitted hereunder and in an aggregate amount not to exceed $5,000,000 in any fiscal year; 

 

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 (m) Indebtedness in respect of those Hedging Agreements incurred in the ordinary course of
business and consistent with prudent business practice; 
 (n) Guarantees of Indebtedness of the Borrower or any of the
Subsidiaries; provided, such Indebtedness is permitted by another subsection of this Section 6.01; 
 (o) Guarantees
resulting from endorsement of negotiable instruments in the ordinary course of business; 
 (p) obligations in respect of
surety, stay, customs and appeal bonds, performance bonds and performance and completion guarantees required in the ordinary course of business or in connection with the enforcement of rights or claims of the Borrower or the Subsidiaries or in
connection with judgments that have not resulted in an Event of Default under Section 7.01(i); 
 (q) Indebtedness in
respect of netting services, overdraft protections and similar arrangements in each case in connection with cash management and deposit accounts; 

(r) Indebtedness consisting of (i) the financing of insurance premiums in the ordinary course of business or (ii) take or pay
obligations contained in supply arrangements in the ordinary course of business not to exceed $100,000,000 in the aggregate for this clause (ii); 

(s) Indebtedness incurred by the Borrower or any of the Subsidiaries constituting reimbursement obligations with respect to letters of
credit issued in the ordinary course of business in respect of workers compensation claims, health, disability or other employee benefits or property, casualty or liability insurance or self-insurance, other Indebtedness with respect to
reimbursement-type obligations regarding workers compensation claims and other Indebtedness in respect of bankers’ acceptance, letter of credit, warehouse receipts or similar facilities entered into in the ordinary course of business;
provided that upon the drawing of such letters of credit or the incurrence of such Indebtedness, such obligations are reimbursed within five Business Days following such drawing or incurrence; 

(t) any Permitted Specified Refinancing of the Subordinated Notes in accordance with Section 6.09(b)(i)(A)(2); 

(u) all premiums (if any), interest (including post-petition interest), fees, expenses, charges and additional or contingent interest on
obligations described in clauses (a) through (t) above; and 
  

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 (v) other Indebtedness of the Borrower or the Subsidiaries in an aggregate principal amount
not exceeding $50,000,000 at any time outstanding. 
 Section 6.02. Liens. Create, incur, assume or permit to exist
any Lien on any property or assets (including Equity Interests or other securities of any Person, including the Borrower or any Subsidiary) now owned or hereafter acquired by it or on any income or revenues or rights in respect of any thereof,
except: 
 (a) Liens on property or assets of the Borrower and its Subsidiaries existing on the date hereof and set forth in
Schedule 6.02; provided that such Liens shall secure only those obligations which they secure on the date hereof and Permitted Refinancings thereof; 

(b) any Lien created under the Loan Documents; 

(c) any Lien created under the ABL Documents or the Senior Secured Note Documents or the documents evidencing the Permitted Refinancing
of the Indebtedness permitted by Section 6.01(b), 6.01(c) and 6.01(d), in each case subject to the ABL Intercreditor Agreement and (other than in the case of the Indebtedness permitted by Section 6.01(c)) the Collateral Trust Agreement;

 (d) any Lien existing on any property or asset prior to the acquisition thereof by the Borrower or any Subsidiary or existing
on any property or assets of any Person that becomes a Subsidiary after the date hereof prior to the time such Person becomes a Subsidiary, as the case may be; provided that (i) such Lien is not created in contemplation of or in
connection with such acquisition or such Person becoming a Subsidiary, (ii) such Lien does not apply to any other property or assets of Holdings, the Borrower or any Subsidiary and (iii) such Lien secures only those obligations which it
secures on the date of such acquisition or the date such Person becomes a Subsidiary, as the case may be; 
 (e) Liens for taxes
not yet due or which are being contested in compliance with Section 5.03; 
 (f) Liens of landlords, laborers and employees
arising by operation of law and carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s or other like Liens arising in the ordinary course of business and securing obligations that are (i) not overdue for a
period of more than thirty (30) days or (ii) being contested in compliance with Section 5.03; 
 (g) pledges and
deposits made in the ordinary course of business (i) in compliance with workmen’s compensation, unemployment insurance and other social security laws or regulations, (ii) securing insurance premiums or reimbursement obligations under
insurance policies, in each case payable to insurance carriers that provide insurance to the Borrower or any of its Subsidiaries or (iii) pledges that may be required under applicable foreign laws relating to claims by terminated employees and
other employee claims; 
  

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 (h) deposits to secure the performance of bids, trade contracts (other than for
Indebtedness), leases (other than Capital Lease Obligations), statutory obligations, surety and appeal bonds, performance bonds and other obligations of a like nature incurred in the ordinary course of business; 

(i)(A) survey exceptions or encumbrances, zoning or other restrictions, easements or reservations, rights of others, utilities and other
similar purposes, rights-of-way, restrictions on use of real property and other similar encumbrances incurred in the ordinary course of business which, in the aggregate, do not materially interfere with the ordinary conduct of the business of the
Borrower or any of its Subsidiaries and (B) with respect to any Mortgaged Property, Permitted Encumbrances (as defined in the applicable Mortgage); 

(j)(i) leases, licenses, subleases and sublicenses granted in the ordinary course of business and that do not (A) interfere in
any material respect with the business of the Borrower or any of its material Subsidiaries or (B) secure any Indebtedness for borrowed money or (ii) the rights reserved or vested in any Person by the terms of any lease, license, franchise,
grant or permit held by the Borrower or any of its Subsidiaries, or by law to terminate any such lease, license, franchise, grant or permit or to require annual or periodic payments as a condition to the continuance thereof; 

(k) in the case of leased real property, liens to which the fee interest (or any superior interest) on such property is subject;

 (l) purchase money security interests in real property, improvements thereto or equipment hereafter acquired (or, in the case
of improvements, constructed) by the Borrower or any Subsidiary; provided that (i) such security interests secure Indebtedness permitted by Sections 6.01(f) and (g), (ii) such security interests are incurred, and the Indebtedness
secured thereby is created, within 180 days after such acquisition (or construction), (iii) the Indebtedness secured thereby does not exceed the lesser of the cost or the fair market value of such real property, improvements or equipment at the
time of such acquisition (or construction) and (iv) such security interests do not apply to any other property or assets of the Borrower or any Subsidiary; 

(m) judgment Liens securing judgments not constituting an Event of Default under Article 7; 

(n) Liens on assets of Foreign Subsidiaries; provided that (i) such Liens do not extend to, or encumber, assets that
constitute Collateral, and (ii) such Liens extending to the assets of any Foreign Subsidiary secure only Indebtedness incurred by such Foreign Subsidiary pursuant to Section 6.01(i); 

 

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 (o) Liens in favor of customs and revenue authorities arising as a matter of law to secure
payment of customs duties in connection with the importation of goods in the ordinary course of business; 
 (p) Liens
consisting of (i) agreements to sell any property in a Asset Sale permitted under Section 6.05 and (ii) earnest money deposits made by the Borrower or any of its Subsidiaries in connection with any letter of intent or purchase
agreement entered into in connection with an investment permitted under Section 6.04; 
 (q) Liens arising out of
conditional sale, title retention, consignment or similar arrangements for sale of goods entered into by the Borrower or any of its Subsidiaries in the ordinary course of business; 

(r) Liens deemed to exist in connection with investments in repurchase agreements permitted under Section 6.04(b); 

(s) Liens arising solely by virtue of any statutory or common law provision relating to banker’s liens, rights of set-off or similar
rights and remedies as to deposit or commodity trading or brokerage accounts or other funds maintained with a creditor depository institution, provided that such accounts and funds are not primarily intended by the Borrower or any Subsidiary
to provide collateral to the depository institution or the commodity intermediary; 
 (t) Liens that are contractual rights of
set-off under agreements entered into with customers of the Borrower or any Subsidiary in the ordinary course of business; and 

(u) other Liens securing liabilities permitted hereunder in an aggregate amount not to exceed $50,000,000 at any time outstanding.

 Section 6.03. Sale and Lease-back Transactions. Enter into any arrangement, directly or indirectly, with any
Person whereby it shall sell or transfer any property, real or personal, used or useful in its business, whether now owned or hereafter acquired, and thereafter rent or lease such property or other property which it intends to use for substantially
the same purpose or purposes as the property being sold or transferred unless (a) the sale or transfer of such property is permitted by Section 6.05(b) and (b) any Capital Lease Obligations or Liens arising in connection therewith are
permitted by Sections 6.01 and 6.02, as the case may be. 
  

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 Section 6.04. Investments, Loans and Advances. Purchase, hold or acquire any
Equity Interests, evidences of indebtedness or other securities of, make or permit to exist any loans or advances to, or make or permit to exist any investment or any other interest in, any other Person, except: 

(a)(i) investments by Holdings, the Borrower and the Subsidiaries existing on the date hereof in the Equity Interests of the
Borrower and the Subsidiaries and (ii) additional investments by Holdings, the Borrower and the Subsidiaries in the Equity Interests of the Borrower and the Subsidiaries; provided that (A) any such Equity Interests held by a Loan
Party shall be pledged pursuant to the Security Agreement (subject to the limitations applicable to voting stock of a Foreign Subsidiary referred to therein) and (B) the aggregate amount of investments by Loan Parties in, and loans and advances
by Loan Parties to, Subsidiaries that are not Loan Parties (determined without regard to any write-downs or write-offs of such investments, loans and advances) shall not exceed the sum of (x) $15,000,000 and (ii) the aggregate amount of
dividends paid, or loans or advances repaid, by the Subsidiaries that are not Loan Parties to, and net Investments made by the Subsidiaries that are not Loan Parties in, the Loan Parties since the Closing Date at any time outstanding; 

(b) Permitted Investments; 

(c) loans or advances made by the Borrower to any Subsidiary and made by any Subsidiary to Holdings, the Borrower or any other
Subsidiary; provided that (i) any such loans and advances shall (A) be unsecured and (B) within 45 days after the Closing Date, be subordinated to the Obligations pursuant to an Affiliate Subordination Agreement and
(ii) the amount of such loans and advances made by Loan Parties to Subsidiaries that are not Loan Parties shall be subject to the limitation set forth in clause (a) above; 

(d) investments (i) received in connection with the bankruptcy or reorganization of, or settlement of delinquent accounts and
disputes with, customers and suppliers, in each case in the ordinary course of business and (ii) consisting of extensions of credit in the nature of accounts receivable or notes receivable arising from the grant of trade credit in the ordinary
course of business, and investments received in satisfaction or partial satisfaction thereof from financially troubled account debtors and other credits to suppliers made in the ordinary course of business; 

(e) the Borrower and the Subsidiaries may make loans and advances in the ordinary course of business to their respective employees so
long as the aggregate principal amount thereof at any time outstanding (determined without regard to any write-downs or write-offs of such loans and advances) shall not exceed $5,000,000; 

(f) the Borrower and the Subsidiaries may enter into Hedging Agreements that are not speculative in nature and are intended to protect
the Borrower or any Subsidiary from fluctuations in exchange rates, interest rates and commodity or service prices; 
 (g)
Permitted Acquisitions; 
  

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 (h) investments by the Borrower in Hedging Agreements permitted under Section 6.01(m);

 (i) bank deposits made in the ordinary course of business; 

(j) promissory notes and other non-cash consideration received in connection with Asset Sales permitted by Section 6.05; 

(k) investments in the ordinary course of business consisting of (i) endorsements for collection or deposit and (ii) customary
trade arrangements with customers consistent with past practices; 
 (l) investments existing on the date hereof and set forth
in Schedule 6.04; and 
 (m) in addition to investments permitted by paragraphs (a) through (l) above, additional
investments, loans and advances by the Borrower and the Subsidiaries so long as the aggregate amount invested, loaned or advanced pursuant to this paragraph (m) (determined without regard to any write-downs or write-offs of such investments,
loans and advances) does not exceed the greater of (i) $30,000,000 or (ii) 4.0% of Consolidated Net Tangible Assets at the time of the last such investment in the aggregate. 

Section 6.05. Mergers, Consolidations, Sales of Assets and Acquisitions. (a) Merge into or consolidate with any
other Person, or permit any other Person to merge into or consolidate with it, or sell, transfer, lease or otherwise dispose of (in one transaction or in a series of transactions) all or substantially all the assets (whether now owned or hereafter
acquired) of the Borrower or less than all the Equity Interests of any Subsidiary, or purchase, lease or otherwise acquire (in one transaction or a series of transactions) all or any substantial part of the assets of any other Person, except that

 (i)(A) any Loan Party may transfer or dispose of its assets or property to any other Loan Party, and
(B) any Subsidiary that is not a Loan Party may transfer or dispose of its assets or property to the Borrower or any other Subsidiary; 

(ii) the Borrower and any Subsidiary may purchase and sell inventory in the ordinary course of business; 

(iii) if at the time thereof and immediately after giving effect thereto no Event of Default or Default shall have
occurred and be continuing (x) any Wholly Owned Subsidiary may merge into the Borrower in a transaction in which the Borrower is the surviving corporation and (y) any Wholly Owned Subsidiary may merge into or consolidate with any other
Wholly Owned Subsidiary in a transaction in 
  

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which the surviving entity is a Wholly Owned Subsidiary and no Person other than the Borrower or a Wholly Owned Subsidiary receives any consideration (provided that if any party to any
such transaction is a Loan Party, the surviving entity of such transaction shall be a Loan Party); and 
 (iv)
the Borrower or any Subsidiary may acquire all or substantially all the assets of a Person or line of business of such Person, or not less than 100% of the Equity Interests (other than directors’ qualifying shares) of a Person (referred to
herein as the “Acquired Entity”); provided that (A) such acquisition was not preceded by an unsolicited tender offer for such Equity Interests by, or proxy contest initiated by, Holdings, the Borrower or any Subsidiary;
(B) the Acquired Entity shall be in a line of business permitted under Section 6.08; and (C) at the time of such transaction (1) both before and after giving effect thereto, no Default or Event of Default shall have occurred and
be continuing; (2) the Borrower would be in compliance with the covenants set forth in Sections 6.11 and 6.12 as of the most recently completed period of four consecutive fiscal quarters ending prior to such transaction for which the
financial statements and certificates required by Section 5.04(a) or 5.04(b), as the case may be, and Section 5.04(c) have been delivered or for which comparable financial statements have been filed with the SEC, after giving pro forma
effect to such transaction and to any other event occurring after such period as to which pro forma recalculation is appropriate (including any other transaction described in this Section 6.05(a) occurring after such period) as if such
transaction had occurred as of the first day of such period (assuming, for purposes of pro forma compliance with Section 6.12, that the maximum Leverage Ratio permitted at the time by such Section was in fact 0.25 to 1.00 less than the ratio
actually provided for in such Section at such time); (3) the Borrower shall have delivered a certificate of a Financial Officer, certifying as to the foregoing and containing reasonably detailed calculations in support thereof, in form and
substance satisfactory to the Administrative Agent and (4) the Borrower shall comply, and shall cause Acquired Entity to comply, with the applicable provisions of Section 5.12 and the Security Documents (any acquisition of Acquired Entity
meeting all the criteria of this Section 6.05(a) being referred to herein as a “Permitted Acquisition”). 

(b) Make any Asset Sale not otherwise permitted under paragraph (a) above, except for: 

(i) the transfer or disposition of property pursuant to sale and leaseback transactions; provided that (A) at
the time thereof and immediately after giving effect thereto no Event of Default or Default shall have occurred and be continuing or would result therefrom, (B) the aggregate fair market value of all property disposed of in reliance on this

  

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clause shall not exceed $15,000,000 (which amount may, with prior approval by the Administrative Agent, be increased to $25,000,000) since the Closing Date and (C) such transaction is for
consideration at least 75% of which is cash or consists of Permitted Investments; 
 (ii) the transfer of
property that is the subject of a Casualty Event upon receipt of insurance or other proceeds arising from such Casualty Event; 

(iii) the disposition of investments in joint ventures to the extent required by, or made pursuant to, any buy/sell
arrangement or any similar binding arrangement between joint venture parties, in each case, that is in effect on the Closing Date; and 

(iv) any Asset Sale as to which (A) at least 75% of the consideration is cash or consists of Permitted Investments,
(B) such consideration is at least equal to the fair market value of the assets being sold, transferred, leased or disposed of, (C) at the time of such transaction (1) both before and after giving effect thereto, no Default or Event
of Default shall have occurred and be continuing and (2) the Borrower would be in compliance with the covenants set forth in Sections 6.11 and 6.12 as of the most recently completed period of four consecutive fiscal quarters ending prior
to such transaction for which the financial statements and certificates required by Section 5.04(a) or 5.04(b), as the case may be, and Section 5.04(d) have been delivered or for which comparable financial statements have been filed with
the SEC, after giving pro forma effect to such transaction and to any other event occurring after such period as to which pro forma recalculation is appropriate (including any other transaction described in this Section 6.05(b)(iv) occurring
after such period) as if such transaction had occurred as of the first day of such period, (D) the fair market value of all assets sold, transferred, leased or disposed of pursuant to this Section 6.05(b)(iv) shall not exceed the greater
of (1) $150,000,000 or (2) 19% of Consolidated Net Tangible Assets at the time of the last such Asset Sale in the aggregate and (E) the Borrower shall have delivered a certificate of a Financial Officer, certifying as to the foregoing
and containing reasonably detailed calculations in support thereof, in form and substance satisfactory to the Administrative Agent. 

Section 6.06. Restricted Payments; Restrictive Agreements. (a) Declare or make, or agree to declare or make,
directly or indirectly, any Restricted Payment (including pursuant to any Synthetic Purchase Agreement), or incur any obligation (contingent or otherwise) to do so; provided, however, that 

(i) any Subsidiary may declare and pay dividends or make other distributions ratably to its equity holders, 

 

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 (ii) so long as no Event of Default or Default shall have occurred and be
continuing or would result therefrom, the Borrower may, or the Borrower may make distributions to Holdings (and Holdings may in turn make distributions to Super Holdco) so that Holdings (or Super Holdco) may, repurchase its Equity Interests owned by
current and former officers, directors, consultants, advisors or employees of Holdings, the Borrower or the Subsidiaries or make payments to current and former officers, directors, consultants, advisors or employees of Holdings, the Borrower or the
Subsidiaries (x) in connection with the exercise of stock options, stock appreciation rights or similar equity incentives or equity based incentives pursuant to any management incentive plan, equity based compensation plan, equity subscription
agreement, equity award agreement, shareholders’ or members’ agreement or other similar agreement, plan or arrangement, or (y) in connection with the retention, promotion, separation from service, death or disability of such
individuals, in an aggregate amount for this clause (ii) not to exceed $7,500,000 in any fiscal year, 

(iii) the Borrower may make Restricted Payments to Holdings (and Holdings may in turn make Restricted Payments to Super
Holdco) in order to allow Holdings and/or Super Holdco to (x) pay Holdings and/or Super Holdco’s administrative expenses and corporate overhead, franchise fees, public company costs (including SEC fees and auditing fees) and customary
director fees in an aggregate amount not to exceed $2,000,000 in any calendar year, (y) pay premiums and deductibles in respect of directors and officers insurance policies and excess liability policies obtained from third-party insurers,
(z) pay Tax liabilities attributable to Holdings and its subsidiaries in an amount not to exceed the amount of such taxes that would be payable by Holdings and its subsidiaries on a stand-alone basis (if Holdings were a corporation and parent
of a consolidated group including its subsidiaries), provided that (A) any payments made pursuant to this clause (z) in any period that are not otherwise deducted in calculating Consolidated Net Income shall be deducted in
calculating Consolidated Net Income for such period (and shall be deemed to be a provision for taxes for purposes of calculating Excess Cash Flow for such period) and (B) all Restricted Payments made to Super Holdco or Holdings pursuant to this
clause (iii) shall be used by Super Holdco or Holdings, as the case may be, for the purposes specified herein within 20 days of the receipt thereof, 

(iv) the Borrower and each of its Subsidiaries may purchase, redeem or otherwise acquire its common Equity Interests with
the proceeds received from the substantially concurrent issuance of new common Equity Interests of such Person (other than any such issuance to the Borrower or a Subsidiary), 

 

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 (v) the Borrower may make cash payments in lieu of issuing fractional shares
in connection with the exercise of warrants, options or other securities convertible into or exchangeable for Equity Interests of the Borrower or its Subsidiaries, and 

(vi) the Borrower may make other Restricted Payments to Holdings (and Holdings may in turn make such Restricted Payments
to Super Holdco) in an aggregate amount not to exceed $40,000,000 in any fiscal year. 
 (b) Enter into, incur or permit to
exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (i) the ability of Holdings, the Borrower or any Subsidiary to create, incur or permit to exist any Lien upon any of its property or assets, or
(ii) the ability of any Subsidiary to pay dividends or other distributions with respect to any of its Equity Interests or to make or repay loans or advances to the Borrower or any other Subsidiary or to Guarantee Indebtedness of the Borrower or
any other Subsidiary; provided that (A) the foregoing shall not apply to restrictions and conditions imposed by law or by any Loan Document, any ABL Document, any Senior Secured Note Document or any Subordinated Note Document,
(B) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, provided such restrictions and conditions apply only to the Subsidiary that is to
be sold and such sale is permitted hereunder, (C) the foregoing shall not apply to restrictions and conditions imposed on any Foreign Subsidiary by the terms of any Indebtedness of such Foreign Subsidiary permitted to be incurred hereunder and
(D) clause (i) of the foregoing shall not apply to (x) restrictions or conditions imposed by any agreement relating to secured Indebtedness permitted by this Agreement if such restrictions or conditions apply only to the property or
assets securing such Indebtedness, (y) customary provisions in leases and other contracts restricting the assignment thereof and (z) restrictions and conditions existing on the date hereof and identified on Schedule 6.06 (but shall
apply to any amendment or modification expanding the scope of any such restriction or condition). 
 Section 6.07.
Transactions with Affiliates. Except for transactions between or among Loan Parties or between or among Foreign Subsidiaries, sell or transfer any property or assets to, or purchase or acquire any property or assets from, or otherwise engage in
any other transactions with, any of its Affiliates, except the Borrower or any Subsidiary may (a) engage in any of the foregoing transactions in the ordinary course of business at prices and on terms and conditions not less favorable to the
Borrower or such Subsidiary than could be obtained on an arm’s-length basis from unrelated third parties; (b) subject to compliance with the other terms and conditions of this Agreement, engage in any of the foregoing transactions among
the Borrower and the other Subsidiaries so long as such transactions shall be (i) in the ordinary course of business and (ii) consistent with past practices and not materially adverse to the Lenders;

  

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(c) pay customary fees payable to any directors of the Borrower and the Subsidiaries and reimburse reasonable out-of-pocket costs of the directors of the Borrower and the Subsidiaries;
(d) enter into employment and severance arrangements with their respective officers and employees in the ordinary course of business; (e) pay customary fees and indemnities to their respective directors, officers and employees in the
ordinary course of business; (f) enter into the transactions set forth on Schedule 6.07; (g) make any intercompany investments contemplated by Section 6.04; and (h) enter into transactions otherwise permitted by
Section 6.05(a)(i)(B), Section 6.05(a)(iii) and Section 6.06. 
 Section 6.08. Business of Holdings,
Borrower and Subsidiaries. (a) With respect to Holdings, (i) engage in any material activities or hold any material assets or liabilities other than its ownership of the Equity Interests of the Borrower and those activities
incidental thereto and (ii) incur any material liabilities other than pursuant to the Security Agreement, the Holdings Guaranty, and the other Loan Documents, the ABL Documents, the Senior Secured Note Documents to which it is a party and any
other obligations or liabilities incidental to its activities as a holding company or expressly permitted hereunder. 
 (a) With
respect to the Borrower and its Subsidiaries, engage at any time in any business or business activity other than business conducted or proposed to be conducted by the Borrower and the Subsidiaries on the Closing Date and other businesses
complementary, similar or reasonably related, ancillary or incidental thereto or reasonable extensions thereof. 

Section 6.09. Other Indebtedness and Agreements. (a) Permit (i) any waiver, supplement, modification,
amendment, termination or release of any indenture, instrument or agreement pursuant to which any Material Indebtedness of Holdings, the Borrower or any of the Subsidiaries is outstanding without the prior written consent of the Administrative
Agent, except (x) to the extent any of the foregoing is not adverse to the interests of the Lenders under the Loan Documents in any material respect or (y) in connection with any Permitted Refinancing of Indebtedness permitted under
Section 6.01 or (ii) any waiver, supplement, modification or amendment of (A) its certificate of incorporation, by-laws, operating, management or partnership agreement or other organizational documents or (B) that certain
indemnification agreement dated as of February 9, 2010 between Russell Hobbs and Harbinger Capital Partners Master Fund I, Ltd., in each case to the extent any such waiver, supplement, modification or amendment would be adverse to the Lenders
in any material respect. 
 (a)(i) Make any distribution, whether in cash, property, securities or a combination thereof,
other than regular scheduled payments of principal and interest as and when due (to the extent not prohibited by applicable subordination provisions), in respect of, or pay, or commit to pay, or directly or indirectly (including pursuant to any
Synthetic Purchase Agreement) redeem, repurchase, retire or otherwise acquire for consideration, or set apart any sum for the aforesaid 

 

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purposes, (A) any subordinated Indebtedness, other than in connection with (1) any Permitted Refinancing thereof and (2) any Permitted Specified Refinancing of the Subordinated
Notes; provided that (x) in each case, at the time of such transaction after giving effect thereto, no Default or Event of Default shall have occurred and be continuing; (y) solely for the purposes of the foregoing clause (2), if
and only if the Leverage Ratio would be no greater than 4.00 to 1.00 and the Secured Leverage Ratio would be no greater than 3.50 to 1.00, in each case, as of the most recently completed period of four consecutive fiscal quarters ending prior to
such transaction for which the financial statements and certificates required by Section 5.04(a) or 5.04(b), as the case may be, and Section 5.04(d) have been delivered or for which comparable financial statements have been filed with the
SEC, after giving pro forma effect to such transaction and to any other event occurring after such period as to which pro forma recalculation is appropriate as if such transaction had occurred as of the first day of such period; and (B) if a
Default exist or would result therefrom, any Indebtedness, other than (1) the payment of the Indebtedness created hereunder and under the ABL Credit Agreement and the Senior Secured Notes, (2) the payment of secured Indebtedness that
becomes due as a result of the voluntary sale or transfer of the property or assets securing such Indebtedness; or 

(i) if a Default exists or would result therefrom, pay in cash any amount in respect of any Indebtedness or preferred
Equity Interests that may at the applicable obligor’s option be paid in kind or in other securities. 

Section 6.10. Capital Expenditures. Permit the aggregate amount of Capital Expenditures made by the Borrower and the
Subsidiaries in any period set forth below to exceed the amount set forth below for such period: 
  

				
	 Fiscal Year Ended
	  	Amount
	 September 30, 2010 and thereafter
	  	$	55,000,000

 The amount of
permitted Capital Expenditures set forth above in respect of any fiscal year commencing with the fiscal year ending on September 30, 2011, shall be increased (but not decreased) by (a) the amount of unused permitted Capital Expenditures
for the immediately preceding fiscal year less (b) an amount equal to unused Capital Expenditures carried forward to such preceding fiscal year. 

Section 6.11. Interest Coverage Ratio. Permit the Interest Coverage Ratio for any period of four consecutive fiscal quarters,
in each case taken as one accounting period, ending on a date or during any period set forth below to be less than the ratio set forth opposite such date or period below: 
  

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	 Four Fiscal-Quarter Period Ended
	  	Ratio
	 September 30, 2010 – June 30, 2011
	  	2.000:1
	 September 30, 2011 – June 30, 2012
	  	2.125:1
	 September 30, 2012 – June 30, 2013
	  	2.250:1
	 September 30, 2013 – June 30, 2014
	  	2.375:1
	 September 30, 2014 – June 30, 2015
	  	2.500:1
	 September 30, 2015 – June 30, 2016
	  	2.750:1
	 September 30, 2016 and thereafter
	  	3.000:1

Section 6.12. Maximum Leverage Ratio. Permit the Leverage Ratio at any time during a period set forth below to be greater
than the ratio set forth opposite such period below: 
  

			
	 Period Ended
	  	Ratio
	 September 30, 2010 – March 31, 2011
	  	5.250:1
	
                    June 30,
2011
	  	5.125:1
	 September 30, 2011 – June 30, 2012
	  	5.000:1
	 September 30, 2012 – June 30, 2013
	  	4.500:1
	 September 30, 2013 – June 30, 2014
	  	4.000:1
	 September 30, 2014 – June 30, 2015
	  	3.500:1
	 September 30, 2015 – June 30, 2016
	  	3.250:1
	 September 30, 2016 – June 30, 2017
	  	3.000:1
	 September 30, 2017 and thereafter
	  	2.750:1

Section 6.13. Fiscal Year. With respect to Holdings and the Borrower, change their fiscal year-end to a date other than
September 30. 
 Section 6.14. Certain Equity Securities. Except as permitted by Section 6.01, issue any
Equity Interest that is not Qualified Capital Stock. 
  

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 ARTICLE 7 

EVENTS OF DEFAULT 

Section 7.01. Events of Default. In case of the happening of any of the following events (“Events of
Default”): 
 (a) any representation or warranty made or deemed made in or in connection with any Loan Document or the
borrowings hereunder, or any representation, warranty, statement or information contained in any report, certificate, financial statement or other instrument furnished in connection with or pursuant to any Loan Document, shall prove to have been
false or misleading in any material respect when so made, deemed made or furnished; 
 (b) default shall be made in the payment
of any principal of any Loan when and as the same shall become due and payable, whether at the due date thereof or at a date fixed for prepayment thereof or by acceleration thereof or otherwise; 

(c) default shall be made in the payment of any interest on any Loan or any Fee or any other amount (other than an amount referred to in
(b) above) due under any Loan Document, when and as the same shall become due and payable, and such default shall continue unremedied for a period of three Business Days; 

(d) default shall be made in the due observance or performance by Holdings, the Borrower or any Subsidiary of any covenant, condition or
agreement contained in (i) Section 5.01(a) (with respect to the Borrower or Holdings) or 5.08 or in Article 6 or (ii) Section 5.04(a), 5.04(b) or 5.05 and, in the case of clause (ii) such default shall continue unremedied for a
period of 15 days; 
 (e) default shall be made in the due observance or performance by Holdings, the Borrower or any Subsidiary
of any covenant, condition or agreement contained in any Loan Document (other than those specified in (b), (c) or (d) above) and such default shall continue unremedied for a period of 30 consecutive days after the earlier of
(i) notice thereof from the Administrative Agent to the Borrower (which notice shall also be given at the request of any Lender) or (ii) knowledge thereof of Holdings or the Borrower; 

(f)(i) Holdings, the Borrower or any Subsidiary shall fail to pay any principal or interest, regardless of amount, due in respect of
any Material Indebtedness and such failure shall continue after the applicable grace period and/or (ii) any other event or condition occurs that results in any Material Indebtedness becoming due prior to its scheduled maturity or that enables
or permits (after the applicable grace period) the holder or holders of any Material Indebtedness or any trustee or agent on its or their behalf to cause any Material Indebtedness to become due, or to require the prepayment, repurchase, redemption
or defeasance thereof, prior to its scheduled maturity; provided that this clause (ii) shall not apply to (A) secured Indebtedness that becomes due as a result of the voluntary sale or transfer of the property or assets securing
such Indebtedness or (B) obligations under any Hedging Agreement that becomes due as a result of a “Termination Event” as defined in clauses (i), (ii) or (iii) of Section 5(b) of the ISDA 2002 Master Agreement;

  

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 (g) an involuntary proceeding shall be commenced or an involuntary petition shall be filed
in a court of competent jurisdiction seeking (i) relief in respect of Holdings, the Borrower or any Subsidiary (other than an Inactive Subsidiary), or of a substantial part of the property or assets of Holdings, the Borrower or a Subsidiary
(other than an Inactive Subsidiary), under Title 11 of the United States Code, as now constituted or hereafter amended, or any other Federal, state or foreign bankruptcy, insolvency, receivership or similar law, (ii) the appointment of a
receiver, trustee, custodian, sequestrator, conservator or similar official for Holdings, the Borrower or any Subsidiary (other than an Inactive Subsidiary) or for a substantial part of the property or assets of Holdings, the Borrower or a
Subsidiary or (iii) the winding-up or liquidation of Holdings, the Borrower or any Subsidiary (other than an Inactive Subsidiary); and such proceeding or petition shall continue undismissed for 60 days or an order or decree approving or
ordering any of the foregoing shall be entered; 
 (h) Holdings, the Borrower or any Subsidiary (other than an Inactive
Subsidiary) shall (i) voluntarily commence any proceeding or file any petition seeking relief under Title 11 of the United States Code, as now constituted or hereafter amended, or any other Federal, state or foreign bankruptcy, insolvency,
receivership or similar law, (ii) consent to the institution of, or fail to contest in a timely and appropriate manner, any proceeding or the filing of any petition described in (g) above, (iii) apply for or consent to the appointment
of a receiver, trustee, custodian, sequestrator, conservator or similar official for Holdings, the Borrower or any Subsidiary (other than an Inactive Subsidiary) or for a substantial part of the property or assets of Holdings, the Borrower or any
Subsidiary (other than an Inactive Subsidiary), (iv) file an answer admitting the material allegations of a petition filed against it in any such proceeding, (v) make a general assignment for the benefit of creditors, (vi) become
unable, admit in writing its inability or fail generally to pay its debts as they become due or (vii) take any corporate action for the purpose of effecting any of the foregoing; 

(i) one or more judgments shall be rendered against Holdings, the Borrower, any Subsidiary or any combination thereof and the same shall
remain undischarged for a period of 45 consecutive days during which execution shall not be effectively stayed, or any action shall be legally taken by a judgment creditor to levy upon assets or properties of Holdings, the Borrower or any Subsidiary
to enforce any such judgment and such judgment either (i) is for the payment of money in an aggregate amount in excess of $25,000,000 (to the extent not covered by insurance) or (ii) is for injunctive relief and could reasonably be
expected to result in a Material Adverse Effect; provided that if Holdings, the Borrower or the relevant Subsidiary shall not have received notice or been served in connection with the legal proceeding or proceedings resulting in any such
judgment, such 45-consecutive-day period shall be measured from the date on which Holdings, the Borrower or the relevant Subsidiary has knowledge of such judgment; 

 

 91 

 (j) an ERISA Event shall have occurred that, in the reasonable opinion of the Required
Lenders, when taken together with all other such ERISA Events, could reasonably be expected to result in a Material Adverse Effect; 

(k) any Guarantee under the Subsidiary Guaranty or the Holdings Guaranty for any reason shall cease to be in full force and effect (other
than in accordance with its terms), or any Guarantor shall deny in writing that it has any further liability under the Subsidiary Guaranty or the Holdings Guaranty, as the case may be (other than as a result of the discharge of such Guarantor in
accordance with the terms of the Loan Documents); 
 (l) any security interest purported to be created by any Security Document
shall cease to be, or shall be asserted by the Borrower or any other Loan Party not to be, a valid, perfected, first priority (except as otherwise expressly provided in this Agreement, the Intercreditor Agreements or such Security Document) security
interest in the securities, assets or properties covered thereby; 
 (m) the Indebtedness under the Subordinated Notes or any
other subordinated Indebtedness of Holdings and its Subsidiaries constituting Material Indebtedness shall cease (or any Loan Party or an Affiliate of any Loan Party shall so assert), for any reason, to be validly subordinated to the Obligations as
provided in the Subordinated Note Documents or the agreements evidencing such other subordinated Indebtedness; or 
 (n) there
shall have occurred a Change in Control; 
 then, and in every such event (other than an event with respect to Holdings or the Borrower
described in paragraph (g) or (h) above), and at any time thereafter during the continuance of such event, the Administrative Agent may, and at the request of the Required Lenders shall, by notice to the Borrower, take either or both of
the following actions, at the same or different times: (i) terminate forthwith the Commitments and (ii) declare the Loans then outstanding to be forthwith due and payable in whole or in part, whereupon the principal of the Loans so
declared to be due and payable, together with accrued interest thereon and all other liabilities of the Borrower accrued hereunder and under any other Loan Document, shall become forthwith due and payable, without presentment, demand, protest or any
other notice of any kind, all of which are hereby expressly waived by the Borrower, anything contained herein or in any other Loan Document to the contrary notwithstanding; and in any event with respect to Holdings or the Borrower described in
paragraph (g) or (h) above, the Commitments shall automatically terminate and the principal of the Loans then outstanding, together with accrued interest thereon and all other liabilities of the Borrower accrued hereunder and under any
other Loan Document, shall automatically become due and payable, without presentment, demand, protest or any other notice of any kind, all of which are hereby expressly waived by the Borrower, anything contained herein or in any other Loan Document
to the contrary notwithstanding. 
  

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 Section 7.02. Application of Proceeds. (a) After the exercise of remedies
provided for in Section 7.01 (or after the Loans have automatically become immediately due and payable as set forth in the final paragraph of Section 7.01), any amounts received on account of the Obligations (including from proceeds of any
sale or other disposition of all or any part of the Collateral) shall be applied by the Administrative Agent in the following order of priorities: 

first, to pay any amounts (including fees, charges and disbursements of counsel to the Administrative Agent) then due and payable
to the Administrative Agent in its capacity as such pursuant to Sections 3.05 and 9.05; 
 second, to pay ratably
all interest (including Post-Petition Interest (as defined in the Security Agreement)) on the Obligations, until payment in full of all such interest and fees shall have been made; 

third, to pay the unpaid principal of the Obligations ratably, until payment in full of the principal of all Obligations shall
have been made; 
 fourth, to pay all other Obligations ratably, until payment in full of all such other Obligations
shall have been made; and 
 finally, to pay to the Borrower or the relevant Loan Party, or as a court of competent
jurisdiction may direct, any surplus then remaining (including from the proceeds of the Collateral owned by it); 
 provided that
Collateral owned by a Subsidiary Guarantor and any proceeds thereof shall be applied pursuant to the foregoing clauses first, second, third and fourth only to the extent permitted by the limitation in Section 2(i) of
its Subsidiary Guaranty. The Administrative Agent may make such distributions hereunder in cash or in kind or, on a ratable basis, in any combination thereof. 

(a) In making the payments and allocations required by this Section, the Administrative Agent will be entitled to rely on information
from (i) its own records for information as to the Administrative Agent and the Lenders (the “Lender Parties”), their Obligations and actions taken by them, (ii) any Lender Party for information as to its Obligations and
actions taken by it, to the extent that the Administrative Agent has not obtained such information from its own records, and (iii) the Borrower, to the extent that the Administrative Agent has not obtained information from the foregoing
sources. All distributions made by the Administrative Agent pursuant to this Section 7.02 shall be final (except in the event of manifest error) and the Administrative Agent shall have no duty to inquire as to the application by any Lender
Party of any amount distributed to it. 
  

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 ARTICLE 8 

THE ADMINISTRATIVE AGENT AND THE COLLATERAL
TRUSTEE; ETC. 
 Each Lender hereby irrevocably appoints the Administrative Agent and the
Collateral Trustee (for purposes of this Article 8, the Administrative Agent and the Collateral Trustee are referred to collectively as the “Agents”) its agent and authorizes the Agents to take such actions on its behalf and to
exercise such powers as are delegated to such Agent by the terms of the Loan Documents, together with such actions and powers as are reasonably incidental thereto. Without limiting the generality of the foregoing, the Agents are hereby expressly
authorized to (i) execute any and all documents (including releases) with respect to the Collateral and the rights of the Secured Parties with respect thereto, as contemplated by and in accordance with the provisions of this Agreement and the
Security Documents and (ii) negotiate, enforce or the settle any claim, action or proceeding affecting the Lenders in their capacity as such, at the direction of the Required Lenders, which negotiation, enforcement or settlement will be binding
upon each Lender. 
 The institution serving as the Administrative Agent hereunder and/or as the Collateral Trustee shall have
the same rights and powers in its capacity as a Lender as any other Lender and may exercise the same as though it were not an Agent, and such bank and its Affiliates may accept deposits from, lend money to and generally engage in any kind of
business with Holdings, the Borrower or any Subsidiary or other Affiliate thereof as if it were not an Agent hereunder. 

Neither Agent shall have any duties or obligations except those expressly set forth in the Loan Documents. Without limiting the
generality of the foregoing, (a) neither Agent shall be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is continuing, (b) neither Agent shall have any duty to take any discretionary
action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby that such Agent is instructed in writing to exercise by the Required Lenders (or such other number or percentage of the Lenders as
shall be necessary under the circumstances as provided in Section 9.08), and (c) except as expressly set forth in the Loan Documents, neither Agent shall have any duty to disclose, nor shall it be liable for the failure to disclose, any
information relating to Holdings, the Borrower or any of the Subsidiaries that is communicated to or obtained by the bank serving as Administrative Agent and/or Collateral Trustee or any of its Affiliates in any capacity. Neither Agent shall be
liable for any action taken or not taken by it with the consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary under the circumstances as provided in Section 9.08) or in the
absence of its own gross negligence or willful misconduct. Neither Agent shall be deemed to have knowledge of any Default unless and until written notice thereof is given to such Agent by Holdings, the Borrower or a Lender, and neither Agent shall
be responsible for or have any duty to ascertain or inquire into (i) any statement, 
  

 94 

 
warranty or representation made in or in connection with any Loan Document, (ii) the contents of any certificate, report or other document delivered thereunder or in connection therewith,
(iii) the performance or observance of any of the covenants, agreements or other terms or conditions set forth in any Loan Document, (iv) the validity, enforceability, effectiveness or genuineness of any Loan Document or any other
agreement, instrument or document, or (v) the satisfaction of any condition set forth in Article 4 or elsewhere in any Loan Document, other than to confirm receipt of items expressly required to be delivered to such Agent. 

Each Agent shall be entitled to rely upon, and shall not incur any liability for relying upon, any notice, request, certificate, consent,
statement, instrument, document or other writing believed by it to be genuine and to have been signed or sent by the proper Person. Each Agent may also rely upon any statement made to it orally or by telephone and believed by it to have been made by
the proper Person, and shall not incur any liability for relying thereon. Each Agent may consult with legal counsel (who may be counsel for the Borrower), independent accountants and other experts selected by it, and shall not be liable for any
action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts. 
 Each Agent may
perform any and all its duties and exercise its rights and powers by or through any one or more sub-agents appointed by it. Each Agent and any such sub-agent may perform any and all its duties and exercise its rights and powers by or through their
respective Related Parties. The exculpatory provisions of the preceding paragraphs shall apply to any such sub-agent and to the Related Parties of each Agent and any such sub-agent, and shall apply to their respective activities in connection with
the syndication of the Term Facility as well as activities as Agent. 
 Subject to the appointment and acceptance of a successor
Administrative Agent as provided below, the Administrative Agent may resign at any time by notifying the Lenders and the Borrower. Upon any such resignation, the Required Lenders shall have the right, with the consent of Borrower, to appoint a
successor. If no successor shall have been so appointed by the Required Lenders and shall have accepted such appointment within 30 days after the retiring Administrative Agent gives notice of its resignation, then the retiring Administrative Agent
may, on behalf of the Lenders, appoint a successor Administrative Agent which shall be (x) a bank with an office in New York, New York, or an Affiliate of any such bank or (y) a nationally recognized financial institution that is
organized under the laws of the United States or any state or district thereof. Upon the acceptance of its appointment as Administrative Agent hereunder by a successor, such successor shall succeed to and become vested with all the rights, powers,
privileges and duties of the retiring Administrative Agent, and the retiring Administrative Agent shall be discharged from its duties and obligations hereunder. The fees payable by the Borrower to a successor Administrative Agent shall be the same
as those 
  

 95 

 
payable to its predecessor unless otherwise agreed between the Borrower and such successor. After the Administrative Agent’s resignation hereunder, the provisions of this Article and
Section 9.05 shall continue in effect for the benefit of such retiring Administrative Agent, its sub-agents and their respective Related Parties in respect of any actions taken or omitted to be taken by any of them while acting as
Administrative Agent. 
 Each Lender acknowledges that it has, independently and without reliance upon the Agents or any other
Lender and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement. Each Lender also acknowledges that it will, independently and without reliance upon the Agents
or any other Lender and based on such documents and information as it shall from time to time deem appropriate, continue to make its own decisions in taking or not taking action under or based upon this Agreement or any other Loan Document, any
related agreement or any document furnished hereunder or thereunder. 
 Notwithstanding any other provision of this Agreement or
any provision of any other Loan Document, each of the Joint Bookrunners and Joint Lead Arrangers, the Syndication Agent and the Documentation Agent are named as such for recognition purposes only, and in their respective capacities as such shall
have no duties, responsibilities or liabilities with respect to this Agreement or any other Loan Document; it being understood and agreed that each of the Joint Bookrunners and Joint Lead Arrangers, the Syndication Agent and the Documentation Agent
shall be entitled to all indemnification and reimbursement rights in favor of the Agents provided herein and in the other Loan Documents. Without limitation of the foregoing, neither the Joint Bookrunners and Joint Lead Arrangers, the Syndication
Agent nor the Documentation Agent in their respective capacities as such shall, by reason of this Agreement or any other Loan Document, have any fiduciary relationship in respect of any Lender, Loan Party or any other Person. 

ARTICLE 9 

MISCELLANEOUS 

Section 9.01. Notices; Electronic Communications. Notices and other communications provided for herein shall be in writing
and shall be delivered by hand or overnight courier service, mailed by certified or registered mail or sent by fax, as follows: 

(a) if to the Borrower or Holdings, to it at Spectrum Brands Inc., 601 Rayovac Drive, Madison, Wisconsin 53711-2497, Attention of David
Lumley, Fax No. 608-288-4485, with a copy to Paul, Weiss, Rifkind, Wharton & Garrison LLP, 1285 Avenue of the Americas, New York, New York 10019, Attention: Eric Goodison Esq., Fax No. 212-757-3990; 

 

 96 

 (b) if to the Administrative Agent, to Credit Suisse AG, Agency Manager, One Madison Avenue,
New York, NY 10010, Fax No. 212-322-2291, Email: agency.loanops@credit-suisse.com; and 
 (c) if to a Lender, to it at
its address (or fax number) set forth on Schedule 2.01 or in the Assignment and Acceptance pursuant to which such Lender shall have become a party hereto. 

All notices and other communications given to any party hereto in accordance with the provisions of this Agreement shall be deemed to
have been given on the date of receipt if delivered by hand or overnight courier service or sent by fax or on the date five Business Days after dispatch by certified or registered mail if mailed, in each case delivered, sent or mailed (properly
addressed) to such party as provided in this Section 9.01 or in accordance with the latest unrevoked direction from such party given in accordance with this Section 9.01. As agreed to among Holdings, the Borrower, the Administrative Agent
and the applicable Lenders from time to time, notices and other communications may also be delivered by e-mail to the e-mail address of a representative of the applicable Person provided from time to time by such Person. 

The Borrower hereby agrees, unless directed otherwise by the Administrative Agent or unless the electronic mail address referred to below
has not been provided by the Administrative Agent to the Borrower, that it will, or will cause its Subsidiaries to, provide to the Administrative Agent all information, documents and other materials that it is obligated to furnish to the
Administrative Agent pursuant to the Loan Documents or to the Lenders under Article 5, including all notices, requests, financial statements, financial and other reports, certificates and other information materials, but excluding any such
communication that (i) is or relates to a Borrowing Request or a notice pursuant to Section 2.10, (ii) relates to the payment of any principal or other amount due under this Agreement prior to the scheduled date therefor,
(iii) provides notice of any Default or Event of Default under this Agreement or any other Loan Document or (iv) is required to be delivered to satisfy any condition precedent to the effectiveness of this Agreement and/or any Borrowing or
other extension of credit hereunder (all such non-excluded communications being referred to herein collectively as “Communications”), by transmitting the Communications in an electronic/soft medium that is properly identified in a
format acceptable to the Administrative Agent to an electronic mail address as directed by the Administrative Agent. In addition, the Borrower agrees, and agrees to cause its Subsidiaries, to continue to provide the Communications to the
Administrative Agent or the Lenders, as the case may be, in the manner specified in the Loan Documents but only to the extent requested by the Administrative Agent. 

 

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 The Borrower hereby acknowledges that (a) the Administrative Agent will make available
to the Lenders materials and/or information provided by or on behalf of the Borrower hereunder (collectively, the “Borrower Materials”) by posting the Borrower Materials on Intralinks or another similar electronic system (the
“Platform”) and (b) certain of the Lenders may be “public-side” Lenders (i.e., Lenders that do not wish to receive material non-public information with respect to the Borrower or its securities) (each, a
“Public Lender”). The Borrower hereby agrees that (w) all Borrower Materials that are to be made available to Public Lenders shall be clearly and conspicuously marked “PUBLIC” which, at a minimum, shall mean that the
word “PUBLIC” shall appear prominently on the first page thereof; (x) by marking Borrower Materials “PUBLIC,” the Borrower shall be deemed to have authorized the Administrative Agent and the Lenders to treat such Borrower
Materials as not containing any material non-public information with respect to the Borrower or its securities for purposes of United States federal and state securities laws (provided, however, that to the extent such Borrower Materials
constitute Information, they shall be treated as set forth in Section 9.16); (y) all Borrower Materials marked “PUBLIC” are permitted to be made available through a portion of the Platform designated as “Public
Investor;” and (z) the Administrative Agent shall be entitled to treat any Borrower Materials that are not marked “PUBLIC” as being suitable only for posting on a portion of the Platform not marked as “Public Investor”.
Notwithstanding the foregoing, the following Borrower Materials shall be marked “PUBLIC”, unless the Borrower notifies the Administrative Agent promptly that any such document contains material non-public information: the Loan Documents.

 Each Public Lender agrees to cause at least one individual at or on behalf of such Public Lender to at all times have
selected the “Private Side Information” or similar designation on the content declaration screen of the Platform in order to enable such Public Lender or its delegate, in accordance with such Public Lender’s compliance procedures and
applicable law, including United States Federal and state securities laws, to make reference to Communications that are not made available through the “Public Side Information” portion of the Platform and that may contain material
non-public information with respect to the Borrower or its securities for purposes of United States Federal or state securities laws. 

THE PLATFORM IS PROVIDED “AS IS” AND “AS AVAILABLE”. NEITHER THE ADMINISTRATIVE AGENT NOR ANY OF ITS RELATED PARTIES
WARRANTS THE ACCURACY OR COMPLETENESS OF THE COMMUNICATIONS OR THE ADEQUACY OF THE PLATFORM AND EACH EXPRESSLY DISCLAIMS LIABILITY FOR ERRORS OR OMISSIONS IN THE COMMUNICATIONS. NO WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY, INCLUDING ANY
WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF THIRD PARTY RIGHTS OR FREEDOM FROM VIRUSES OR OTHER CODE DEFECTS IS MADE BY THE ADMINISTRATIVE AGENT OR ANY OF ITS RELATED PARTIES IN CONNECTION WITH THE
COMMUNICATIONS OR THE PLATFORM. IN 
  

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NO EVENT SHALL THE ADMINISTRATIVE AGENT OR ANY OF ITS RELATED PARTIES HAVE ANY LIABILITY TO ANY LOAN PARTY, ANY LENDER OR ANY OTHER PERSON FOR DAMAGES OF ANY KIND, WHETHER OR NOT BASED ON STRICT
LIABILITY AND INCLUDING DIRECT OR INDIRECT, SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES, LOSSES OR EXPENSES (WHETHER IN TORT, CONTRACT OR OTHERWISE) ARISING OUT OF ANY LOAN PARTY’S OR THE ADMINISTRATIVE AGENT’S TRANSMISSION OF
COMMUNICATIONS THROUGH THE INTERNET, EXCEPT TO THE EXTENT THE LIABILITY OF ANY SUCH PERSON IS FOUND IN A FINAL RULING BY A COURT OF COMPETENT JURISDICTION TO HAVE RESULTED PRIMARILY FROM SUCH PERSON’S GROSS NEGLIGENCE OR WILLFUL MISCONDUCT.

 The Administrative Agent agrees that the receipt of the Communications by the Administrative Agent at its e-mail address set
forth above shall constitute effective delivery of the Communications to the Administrative Agent for purposes of the Loan Documents. Each Lender agrees that receipt of notice to it (as provided in the next sentence) specifying that the
Communications have been posted to the Platform shall constitute effective delivery of the Communications to such Lender for purposes of the Loan Documents. Each Lender agrees to notify the Administrative Agent in writing (including by electronic
communication) from time to time of such Lender’s e-mail address to which the foregoing notice may be sent by electronic transmission and that the foregoing notice may be sent to such e-mail address. 

It is understood and agreed that the Administrative Agent may, in its discretion, elect to not deliver to any Lender that is a Permitted
Investor, and limit the access of any such Lender to, any Communications or other information that do not consist of Borrower Materials. 

Section 9.02. Survival of Agreement. Nothing herein shall prejudice the right of the Administrative Agent or any Lender to
give any notice or other communication pursuant to any Loan Document in any other manner specified in such Loan Document. All covenants, agreements, representations and warranties made by the Borrower or Holdings herein and in the certificates or
other instruments prepared or delivered in connection with or pursuant to this Agreement or any other Loan Document shall be considered to have been relied upon by the Lenders and shall survive the making by the Lenders of the Loans, regardless of
any investigation made by the Lenders or on their behalf, and shall continue in full force and effect as long as the principal of or any accrued interest on any Loan or any Fee or any other amount payable under this Agreement or any other Loan
Document is outstanding and unpaid and so long as the Commitments have not been terminated. The provisions of Sections 2.14, 2.16, 2.20 and 9.05 shall remain operative and in full force and effect regardless of the expiration of the term of
this Agreement, the consummation of the transactions contemplated hereby, the repayment of any of the Loans, the expiration of the Commitments, the invalidity or unenforceability of any term or provision of this Agreement or any other Loan Document,
or any investigation made by or on behalf of the Administrative Agent, the Collateral Trustee or any Lender. 
  

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 Section 9.03. Binding Effect. This Agreement shall become effective when it
shall have been executed by the Borrower, Holdings and the Administrative Agent and when the Administrative Agent shall have received counterparts hereof which, when taken together, bear the signatures of each of the other parties hereto.

 Section 9.04. Successors and Assigns. (a) Whenever in this Agreement any of the parties hereto is
referred to, such reference shall be deemed to include the permitted successors and assigns of such party; and all covenants, promises and agreements by or on behalf of the Borrower, Holdings, the Administrative Agent, the Collateral Trustee or the
Lenders that are contained in this Agreement shall bind and inure to the benefit of their respective successors and assigns. 

(a) Each Lender may assign to one or more Eligible Assignees all or a portion of its interests, rights and obligations under this
Agreement (including all or a portion of its Commitment and the Loans at the time owing to it), with notice to the Borrower by the Administrative Agent (failure to provide or delay in providing such notice shall not invalidate such assignment) and,
unless the assignee is a Lender, an Affiliate of a Lender or a Related Fund of a Lender, with the prior written consent of the Administrative Agent (not to be unreasonably withheld or delayed); provided, however, that (i) the amount of
the Commitment or Loans of the assigning Lender subject to each such assignment (determined as of the date the Assignment and Acceptance with respect to such assignment is delivered to the Administrative Agent) shall be in an integral multiple of,
and not less than, $1,000,000 (or, if less, the entire remaining amount of such Lender’s Commitment or Loans of the relevant Class); provided that simultaneous assignments by two or more Related Funds shall be combined for purposes of
determining whether the minimum assignment requirement is met, (ii) the parties to each assignment shall (A) execute and deliver to the Administrative Agent an Assignment and Acceptance via an electronic settlement system acceptable to the
Administrative Agent or (B) if previously agreed with the Administrative Agent, manually execute and deliver to the Administrative Agent an Assignment and Acceptance, and, in each case, shall pay to the Administrative Agent a processing and
recordation fee of $3,500 (which fee may be waived or reduced in the sole discretion of the Administrative Agent), (iii) the assignee, if it shall not be a Lender, shall deliver to the Administrative Agent an Administrative Questionnaire (in
which the assignee shall designate one or more credit contacts to whom all syndicate-level information (which may contain material non-public information about the Loan Parties and their Related Parties or their respective securities) will be made
available and who may receive such information in accordance with the assignee’s compliance procedures and applicable laws, including Federal and state securities laws) and all applicable tax forms and (iv) the aggregate principal

  

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amount of Loans held by Holdings, its Affiliates and the Permitted Investors in their capacity as Lenders shall not exceed 20% of the outstanding principal amount of Loans outstanding at any
time. Upon acceptance and recording pursuant to paragraph (e) of this Section 9.04, from and after the effective date specified in each Assignment and Acceptance, (A) the assignee thereunder shall be a party hereto and, to the extent
of the interest assigned by such Assignment and Acceptance, have the rights and obligations of a Lender under this Agreement and (B) the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and
Acceptance, be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all or the remaining portion of an assigning Lender’s rights and obligations under this Agreement, such Lender shall
cease to be a party hereto but shall continue to be entitled to the benefits of Sections 2.14, 2.16, 2.20 and 9.05). 
 (b)
By executing and delivering an Assignment and Acceptance, the assigning Lender thereunder and the assignee thereunder shall be deemed to confirm to and agree with each other and the other parties hereto as follows: (i) such assigning Lender
warrants that it is the legal and beneficial owner of the interest being assigned thereby free and clear of any adverse claim and that its Term Loan Commitment and the outstanding balances of its Loans without giving effect to assignments thereof
which have not become effective, are as set forth in such Assignment and Acceptance, (ii) except as set forth in (i) above, such assigning Lender makes no representation or warranty and assumes no responsibility with respect to any
statements, warranties or representations made in or in connection with this Agreement, or the execution, legality, validity, enforceability, genuineness, sufficiency or value of this Agreement, any other Loan Document or any other instrument or
document furnished pursuant hereto, or the financial condition of the Borrower or any Subsidiary or the performance or observance by the Borrower or any Subsidiary of any of its obligations under this Agreement, any other Loan Document or any other
instrument or document furnished pursuant hereto; (iii) such assignee represents and warrants that it is an Eligible Assignee legally authorized to enter into such Assignment and Acceptance; (iv) such assignee confirms that it has received
a copy of this Agreement, together with copies of the most recent financial statements referred to in Section 3.05(a) or delivered pursuant to Section 5.04 and such other documents and information as it has deemed appropriate to make its
own credit analysis and decision to enter into such Assignment and Acceptance; (v) such assignee will independently and without reliance upon the Administrative Agent, the Collateral Trustee, such assigning Lender or any other Lender and based
on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under this Agreement; (vi) such assignee appoints and authorizes the Administrative Agent and
the Collateral Trustee to take such action as agent on its behalf and to exercise such powers under this Agreement as are delegated to the Administrative Agent and the Collateral Trustee, respectively, by the terms hereof, together with

  

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such powers as are reasonably incidental thereto; and (vii) such assignee agrees that it will perform in accordance with their terms all the obligations which by the terms of this Agreement
are required to be performed by it as a Lender. 
 (c) The Administrative Agent, acting for this purpose as an agent of the
Borrower, shall maintain at one of its offices in The City of New York a copy of each Assignment and Acceptance delivered to it and a register for the recordation of the names and addresses of the Lenders, and the Commitment of, and principal
amount of the Loans owing to, each Lender pursuant to the terms hereof from time to time (the “Register”). The entries in the Register shall be conclusive and the Borrower, the Administrative Agent, the Collateral Trustee and the
Lenders may treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. The Register shall be available for inspection by the
Borrower, the Collateral Trustee and any Lender, at any reasonable time and from time to time upon reasonable prior notice. 

(d) Upon its receipt of, and consent to, a duly completed Assignment and Acceptance executed by an assigning Lender and an assignee, an
Administrative Questionnaire completed in respect of the assignee (unless the assignee shall already be a Lender hereunder), the processing and recordation fee referred to in paragraph (b) above, if applicable, and the written consent of the
Administrative Agent to such assignment and any applicable tax forms, the Administrative Agent shall promptly (i) accept such Assignment and Acceptance and (ii) record the information contained therein in the Register. No assignment shall
be effective unless it has been recorded in the Register as provided in this paragraph (e). 
 (e) Each Lender may without the
consent of the Borrower or the Administrative Agent sell participations to one or more banks or other Persons in all or a portion of its rights and obligations under this Agreement (including all or a portion of its Commitment and the Loans owing to
it); provided, however, that (i) such Lender’s obligations under this Agreement shall remain unchanged, (ii) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations,
(iii) the participating banks or other Persons shall be entitled to the benefit of the cost protection provisions contained in Sections 2.14 and 2.16 to the same extent as if they were Lenders (but, with respect to any particular
participant, to no greater extent than the Lender that sold the participation to such participant) and (iv) the Borrower, the Administrative Agent and the Lenders shall continue to deal solely and directly with such Lender in connection with
such Lender’s rights and obligations under this Agreement, and such Lender shall retain the sole right to enforce the obligations of the Borrower relating to the Loans and to approve any amendment, modification or waiver of any provision of
this Agreement (other than amendments, modifications or waivers decreasing any fees payable to such participating bank or Person hereunder or the amount of principal of or the rate at which interest is payable on

  

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the Loans in which such participating bank or Person has an interest, extending any scheduled principal payment date or date fixed for the payment of interest on the Loans in which such
participating bank or Person has an interest, increasing or extending the Commitments in which such participating bank or Person has an interest or releasing any Guarantor (other than in connection with the sale of such Guarantor in a transaction
permitted by Section 6.05) or all or substantially all of the Collateral). Each Person holding a participation pursuant to this Section 9.04(f) shall be entitled to the benefits of Section 2.20 with respect to its interest in the
Commitments and the Loans outstanding from time to time as if such participant were a Lender; provided that such Person shall have complied with the requirements of Section 2.20 including, without limitation, Section 2.20(e). To the
extent permitted by law, each participating bank or other Person also shall be entitled to the benefits of Section 9.06 as though it were a Lender, provided that such participating bank or other Person agrees to be subject to
Section 2.18 as though it were a Lender. 
 (f) Any Lender or participant may, in connection with any assignment or
participation or proposed assignment or participation pursuant to this Section 9.04, disclose to the assignee or participant or proposed assignee or participant any information relating to the Borrower furnished to such Lender by or on behalf
of the Borrower; provided that, prior to any such disclosure of information designated by the Borrower as confidential, each such assignee or participant or proposed assignee or participant shall execute an agreement whereby such assignee or
participant shall agree (subject to customary exceptions) to preserve the confidentiality of such confidential information on terms no less restrictive than those applicable to the Lenders pursuant to Section 9.16. 

(g) Any Lender may at any time assign all or any portion of its rights under this Agreement to secure extensions of credit to such Lender
or in support of obligations owed by such Lender; provided that no such assignment shall release a Lender from any of its obligations hereunder or substitute any such assignee for such Lender as a party hereto. 

(h) Notwithstanding anything to the contrary contained herein, any Lender (a “Granting Lender”) may grant to a special
purpose funding vehicle (an “SPV”), identified as such in writing from time to time by the Granting Lender to the Administrative Agent and the Borrower, the option to provide to the Borrower all or any part of any Loan that such
Granting Lender would otherwise be obligated to make to the Borrower pursuant to this Agreement; provided that (i) nothing herein shall constitute a commitment by any SPV to make any Loan and (ii) if an SPV elects not to exercise
such option or otherwise fails to provide all or any part of such Loan, the Granting Lender shall be obligated to make such Loan pursuant to the terms hereof. The making of a Loan by an SPV hereunder shall utilize the Commitment of the Granting
Lender to the same extent, and as if, such Loan were made by such Granting Lender. Each party hereto hereby agrees that no SPV shall be liable for any indemnity or similar payment obligation under

  

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this Agreement (all liability for which shall remain with the Granting Lender). In furtherance of the foregoing, each party hereto hereby agrees (which agreement shall survive the termination of
this Agreement) that, prior to the date that is one year and one day after the payment in full of all outstanding commercial paper or other senior indebtedness of any SPV, it will not institute against, or join any other Person in instituting
against, such SPV any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings under the laws of the United States or any State thereof. In addition, notwithstanding anything to the contrary contained in this Section 9.04,
any SPV may (i) with notice to, but without the prior written consent of, the Borrower and the Administrative Agent and without paying any processing fee therefor, assign all or a portion of its interests in any Loans to the Granting Lender or
to any financial institutions (consented to by the Borrower and Administrative Agent) providing liquidity and/or credit support to or for the account of such SPV to support the funding or maintenance of Loans and (ii) disclose on a confidential
basis any non-public information relating to its Loans to any rating agency, commercial paper dealer or provider of any surety, guarantee or credit or liquidity enhancement to such SPV. 

(i) Neither Holdings nor the Borrower shall assign or delegate any of its rights or duties hereunder without the prior written consent of
the Administrative Agent and each Lender, and any attempted assignment without such consent shall be null and void. 

Section 9.05. Expenses; Indemnity. (a) The Borrower and Holdings agree, jointly and severally, to pay all
out-of-pocket expenses incurred by the Administrative Agent and the Collateral Trustee in connection with the syndication of the Term Facility and the preparation and administration of this Agreement and the other Loan Documents or in connection
with any amendments, modifications or waivers of the provisions hereof or thereof or incurred by the Administrative Agent, the Collateral Trustee or the Lenders in connection with the enforcement or protection of its rights in connection with this
Agreement and the other Loan Documents or in connection with the Loans made hereunder, including the fees, charges and disbursements of Davis Polk & Wardwell LLP, counsel for the Administrative Agent, Thompson Hine, LLP, counsel for the
Collateral Trustee and no more than one counsel in each jurisdiction where Collateral is located), and, in connection with any such enforcement or protection, the fees, charges and disbursements of any other counsel for the Administrative Agent or
the Collateral Trustee and no more than one counsel for all Lenders. 
 (a) The Borrower and Holdings agree, jointly and
severally, to indemnify the Administrative Agent, the Collateral Trustee, each Lender and each Related Party of any of the foregoing Persons (each such Person being called an “Indemnitee”) against, and to hold each Indemnitee
harmless from, any and all losses, claims, damages, liabilities and related expenses, including reasonable counsel fees, charges and disbursements, incurred by or asserted against any Indemnitee arising out of, in any way connected with, or as a
result of (i) the 
  

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execution or delivery of this Agreement or any other Loan Document or any agreement or instrument contemplated thereby, the performance by the parties thereto of their respective obligations
thereunder or the consummation of the Transactions and the other transactions contemplated thereby (including the syndication of the Term Facility), (ii) the use of the proceeds of the Loans, (iii) any claim, litigation, investigation or
proceeding relating to any of the foregoing, whether or not any Indemnitee is a party thereto (and regardless of whether such matter is initiated by a third party or by the Borrower, any other Loan Party or any of their respective Affiliates), or
(iv) any actual or alleged presence or Release of Hazardous Materials on any property currently or formerly owned or operated by the Borrower or any of the Subsidiaries, or any Environmental Liability related in any way to the Borrower or the
Subsidiaries; provided that such indemnity shall not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related expenses are determined by a court of competent jurisdiction by final and
nonappealable judgment to have resulted from the gross negligence or willful misconduct of such Indemnitee. 
 (b) To the extent
that Holdings and the Borrower fail to pay any amount required to be paid by them to the Administrative Agent or the Collateral Trustee under paragraph (a) or (b) of this Section, each Lender severally agrees to pay to the Administrative
Agent or the Collateral Trustee, as the case may be, such Lender’s pro rata share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought) of such unpaid amount; provided that the unreimbursed
expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent or the Collateral Trustee in its capacity as such. For purposes hereof, a Lender’s
“pro rata share” shall be determined based upon its share of the sum of outstanding Loans and unused Commitments at the time. 

(c) To the extent permitted by applicable law, neither Holdings nor the Borrower shall assert, and each hereby waives, any claim against
any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement or any agreement or instrument
contemplated hereby, the Transactions, any Loan or the use of the proceeds thereof. 
 (d) The provisions of this
Section 9.05 shall remain operative and in full force and effect regardless of the expiration of the term of this Agreement, the consummation of the transactions contemplated hereby, the repayment of any of the Loans, the expiration of the
Commitments, the invalidity or unenforceability of any term or provision of this Agreement or any other Loan Document, or any investigation made by or on behalf of the Administrative Agent, the Collateral Trustee or any Lender. All amounts due under
this Section 9.05 shall be payable on written demand therefor. 
  

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 Section 9.06. Right of Setoff. If an Event of Default shall have occurred and be
continuing, each Lender is hereby authorized at any time and from time to time, except to the extent prohibited by law, to set off and apply any and all deposits (general or special, time or demand, provisional or final) at any time held and other
indebtedness at any time owing by such Lender to or for the credit or the account of the Borrower or Holdings against any of and all the obligations of the Borrower or Holdings now or hereafter existing under this Agreement and other Loan Documents
held by such Lender, irrespective of whether or not such Lender shall have made any demand under this Agreement or such other Loan Document and although such obligations may be unmatured. The rights of each Lender under this Section 9.06 are in
addition to other rights and remedies (including other rights of setoff) which such Lender may have. 
 Section 9.07.
Applicable Law. THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS (OTHER THAN AS EXPRESSLY SET FORTH IN OTHER LOAN DOCUMENTS) SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK. 

Section 9.08. Waivers; Amendment. (a) No failure or delay of the Administrative Agent, the Collateral Trustee or
any Lender in exercising any power or right hereunder or under any other Loan Document shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce
such a right or power, preclude any other or further exercise thereof or the exercise of any other right or power. The rights and remedies of the Administrative Agent, the Collateral Trustee, and the Lenders hereunder and under the other Loan
Documents are cumulative and are not exclusive of any rights or remedies that they would otherwise have. No waiver of any provision of this Agreement or any other Loan Document or consent to any departure by the Borrower or any other Loan Party
therefrom shall in any event be effective unless the same shall be permitted by paragraph (b) below, and then such waiver or consent shall be effective only in the specific instance and for the purpose for which given. No notice or demand on
the Borrower or Holdings in any case shall entitle the Borrower or Holdings to any other or further notice or demand in similar or other circumstances. 

(a) Neither this Agreement nor any provision hereof may be waived, amended or modified except pursuant to an agreement or agreements in
writing entered into by the Borrower, Holdings and the Required Lenders; provided, however, that no such agreement shall (i) decrease the principal amount of, or extend the maturity of or any scheduled principal payment date or date for
the payment of any interest on any Loan, or waive or excuse any such payment or any part thereof, or decrease the rate of interest (other than default interest) on any Loan, without the prior written consent of each Lender directly adversely
affected thereby, (ii) increase or extend the Commitment of any Lender without the prior written consent of such Lender or decrease or extend the date for payment of any Fees of any Agent without the prior written consent of such Agent,
(iii) amend or 
  

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modify the pro rata requirements of Section 2.17 (other than in connection with loan buy-back offers that are made to all Lenders on a pro rata basis, in which case payments and Commitment
reductions with respect to tendering Lenders will be permitted on terms acceptable to the Borrower, Holdings and the Required Lenders) and Section 2.18, the provisions of Section 9.04(j) or the provisions of this Section or release any
Guarantor (other than in connection with the sale of such Guarantor in a transaction permitted by Section 6.04(m)) or all or substantially all of the Collateral, without the prior written consent of each Lender, (iv) change the provisions
of any Loan Document in a manner that by its terms adversely affects the rights in respect of payments due to Lenders holding Loans of one Class differently from the rights of Lenders holding Loans of any other Class without the prior written
consent of Lenders holding a majority in interest of the outstanding Loans and unused Commitments of each adversely affected Class, (v) modify the protections afforded to an SPV pursuant to the provisions of Section 9.04(i) without the
written consent of such SPV or (vi) reduce the percentage contained in the definition of the term “Required Lenders” without the prior written consent of each Lender (it being understood that with the consent of the Required Lenders,
additional extensions of credit pursuant to this Agreement may be included in the determination of the Required Lenders on substantially the same basis as the Term Loan Commitments on the date hereof); provided further that no such agreement
shall amend, modify or otherwise affect the rights or duties of the Administrative Agent or the Collateral Trustee hereunder or under any other Loan Document without the prior written consent of the Administrative Agent or the Collateral Trustee.

 (b) The Administrative Agent and the Borrower may amend any Loan Document to correct administrative errors or omissions, or
to effect administrative changes that are not adverse to any Lender. Notwithstanding anything to the contrary contained herein, such amendment shall become effective without any further consent of any other party to such Loan Document. 

Section 9.09. Interest Rate Limitation. Notwithstanding anything herein to the contrary, if at any time the interest rate
applicable to any Loan, together with all fees, charges and other amounts which are treated as interest on such Loan under applicable law (collectively the “Charges”), shall exceed the maximum lawful rate (the “Maximum
Rate”) which may be contracted for, charged, taken, received or reserved by the Lender holding such Loan or participation in accordance with applicable law, the rate of interest payable in respect of such Loan or participation hereunder,
together with all Charges payable in respect thereof, shall be limited to the Maximum Rate and, to the extent lawful, the interest and Charges that would have been payable in respect of such Loan or participation but were not payable as a result of
the operation of this Section 9.09 shall be cumulated and the interest and Charges payable to such Lender in respect of other Loans or participations or periods shall be increased (but not above the Maximum Rate therefor) until such cumulated
amount, together with interest thereon at the Federal Funds Effective Rate to the date of repayment, shall have been received by such Lender. 
  

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 Section 9.10. Entire Agreement. This Agreement, the Fee Letter and the other
Loan Documents constitute the entire contract between the parties relative to the subject matter hereof. Any other previous agreement among the parties with respect to the subject matter hereof is superseded by this Agreement and the other Loan
Documents. Nothing in this Agreement or in the other Loan Documents, expressed 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 Related Parties of each of the Administrative Agent, the Collateral Trustee and the Lenders) any rights, remedies, obligations or liabilities under or by reason of this Agreement or the other Loan Documents.

 Section 9.11. WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY
APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR ANY OF THE OTHER LOAN DOCUMENTS. EACH PARTY HERETO (A) CERTIFIES THAT NO
REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES
HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS, AS APPLICABLE, BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 9.11. 

Section 9.12. Severability. In the event any one or more of the provisions contained in this Agreement or in any other Loan
Document should be held invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein and therein shall not in any way be affected or impaired thereby (it being understood
that the invalidity of a particular provision in a particular jurisdiction shall not in and of itself affect the validity of such provision in any other jurisdiction). The parties shall endeavor in good-faith negotiations to replace the invalid,
illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. 

Section 9.13. Counterparts. This Agreement may be executed in counterparts (and by different parties hereto on different
counterparts), each of which shall constitute an original but all of which when taken together shall constitute a single contract, and shall become effective as provided in Section 9.03. Delivery of an executed signature page to this Agreement by
facsimile transmission shall be as effective as delivery of a manually signed counterpart of this Agreement. 
  

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 Section 9.14. Headings. Article and Section headings and the Table of Contents
used herein are for convenience of reference only, are not part of this Agreement and are not to affect the construction of, or to be taken into consideration in interpreting, this Agreement. 

Section 9.15. Jurisdiction; Consent to Service of Process. (a) Each of Holdings and the Borrower hereby
irrevocably and unconditionally submits, for itself and its property, to the exclusive jurisdiction of any New York State court or Federal court of the United States of America sitting in the Borough of Manhattan in New York City, and any
appellate court from any thereof, in any action or proceeding arising out of or relating to this Agreement or the other Loan Documents, or for recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably and
unconditionally agrees that all claims in respect of any such action or proceeding may be heard and determined in such New York State or, to the extent permitted by law, in such Federal court. Each of the parties hereto agrees that a final
judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in this Agreement shall affect any right that the Administrative Agent,
the Collateral Trustee or any Lender may otherwise have to bring any action or proceeding relating to this Agreement or the other Loan Documents against the Borrower, Holdings or their respective properties in the courts of any jurisdiction.

 (a) Each of Holdings and the Borrower hereby irrevocably and unconditionally waives, to the fullest extent it may legally and
effectively do so, any objection which it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Agreement or the other Loan Documents in any New York State or Federal court. Each
of the parties hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court. 

(b) Each party to this Agreement irrevocably consents to service of process in the manner provided for notices in Section 9.01.
Nothing in this Agreement will affect the right of any party to this Agreement to serve process in any other manner permitted by law. 

Section 9.16. Confidentiality. Each of the Administrative Agent and the Lenders agrees (and the Collateral Trustee shall
agree pursuant to the Collateral Trust Agreement) to maintain the confidentiality of the Information (as defined below), except that Information may be disclosed (a) to its and its Affiliates’ officers, directors, employees and agents,
including accountants, legal counsel 
  

 109 

 
and other advisors (it being understood that the Persons to whom such disclosure is made will be informed of the confidential nature of such Information and instructed to keep such Information
confidential), (b) to the extent requested by any regulatory authority or quasi-regulatory authority (such as the National Association of Insurance Commissioners), (c) to the extent required by applicable laws or regulations or by any
subpoena or similar legal process, (d) in connection with the exercise of any remedies hereunder or under the other Loan Documents or any suit, action or proceeding relating to the enforcement of its rights hereunder or thereunder,
(e) subject to an agreement containing provisions substantially the same as those of this Section 9.16, to (i) any actual or prospective assignee of or participant in any of its rights or obligations under this Agreement and the other
Loan Documents or (ii) any actual or prospective counterparty (or its advisors) to any swap or derivative transaction relating to the Borrower or any Subsidiary or any of their respective obligations, (f) with the consent of the Borrower
or (g) to the extent such Information becomes publicly available other than as a result of a breach of this Section 9.16. For the purposes of this Section, “Information” shall mean all information received from the
Borrower or Holdings and related to the Borrower or Holdings or their business, other than any such information that was available to the Administrative Agent, the Collateral Trustee or any Lender on a nonconfidential basis prior to its disclosure
by the Borrower or Holdings. Any Person required to maintain the confidentiality of Information as provided in this Section 9.16 shall be considered to have complied with its obligation to do so if such Person has exercised the same degree of
care to maintain the confidentiality of such Information as such Person would accord its own confidential information. 

Section 9.17. Lender Action. Each Lender agrees that it shall not in its capacity as Lender hereunder take or institute any
actions or proceedings, judicial or otherwise, for any right or remedy against any Loan Party or any other obligor under any of the Loan Documents (including the exercise of any right of setoff, rights on account of any banker’s lien or similar
claim or other rights of self-help), or institute any actions or proceedings, or otherwise commence any remedial procedures, with respect to any Collateral or any other property of any such Loan Party, unless expressly provided for herein or in any
other Loan Document, without the prior written consent of the Administrative Agent. The provisions of this Section 9.17 are for the sole benefit of the Lenders and shall not afford any right to, or constitute a defense available to, any Loan
Party. 
 Section 9.18. USA PATRIOT Act Notice. Each Lender and the Administrative Agent (for itself and not on
behalf of any Lender) hereby notifies Holdings and the Borrower that pursuant to the requirements of the USA PATRIOT Act, it is required to obtain, verify and record information that identifies Holdings and the Borrower, which information includes
the name and address of Holdings and the Borrower and other information that will allow such Lender or the Administrative Agent, as applicable, to identify Holdings and the Borrower in accordance with the USA PATRIOT Act. 

 

 110 

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

			
	SPECTRUM BRANDS, INC.
		
	By:	 	/s/ John T. Wilson
		 	Name: John T. Wilson
		 	Title:   Senior Vice President,
		 	            Secretary and General Counsel

			
	SB/RH HOLDINGS, LLC
		
	By:	 	/s/ Lisa R. Carstarphen
		 	Name: Lisa Carstarphen
		 	Title:   Vice President and Secretary

			
	 CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, individually and
as Administrative Agent

		
	By:	 	/s/ John D. Toronto
		 	Name: John D. Toronto
		 	Title:   Director
		
	By:	 	/s/ Vipul Dhadda
		 	Name: Vipul Dhadda
		 	Title:   Associate
	
	 CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as Lender

	By:	 	/s/ John D. Toronto
		 	Name: John D. Toronto
		 	Title:   Director
		
	By:	 	/s/ Vipul Dhadda
		 	Name: Vipul Dhadda
		 	Title:   Associate

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