Document:

Indenture

 Exhibit 4.6 

EXECUTION COPY 
  

 
 MUELLER WATER PRODUCTS, INC.,

 as Issuer 

EACH OF THE GUARANTORS PARTY HERETO 

8 
3/4% SENIOR NOTES DUE 2020 
  

 
 INDENTURE

 Dated as of August 26, 2010 
  

 
 The Bank of New
York Mellon Trust Company, N.A., 
 as Trustee 
  

 

 CROSS-REFERENCE TABLE* 

 

					
	 Trust Indenture Act Section
	  	Indenture Section
	 310
	  	 (a)(1)
	  	7.10
		  	 (a)(2)
	  	7.10
		  	 (a)(3)
	  	N.A.
		  	 (a)(4)
	  	N.A.
		  	 (a)(5)
	  	7.10
		  	 (b)
	  	7.10
		  	 (c)
	  	N.A.
	 311
	  	 (a)
	  	7.11
		  	 (b)
	  	7.11
		  	 (c)
	  	N.A.
	 312
	  	 (a)
	  	2.05
		  	 (b)
	  	13.03
		  	 (c)
	  	13.03
	 313
	  	 (a)
	  	7.06
		  	 (b)(1)
	  	N.A.
		  	 (b)(2)
	  	7.06; 7.07
		  	 (c)
	  	7.06; 13.02
		  	 (d)
	  	7.06
	 314
	  	 (a)
	  	4.03; 4.04; 12.01; 13.05
		  	 (b)
	  	N.A.
		  	 (c)(1)
	  	13.04
		  	 (c)(2)
	  	13.04
		  	 (c)(3)
	  	N.A.
		  	 (d)
	  	N.A.
		  	 (e)
	  	13.05
		  	 (f)
	  	N.A.
	 315
	  	 (a)
	  	7.01
		  	 (b)
	  	7.05; 13.02
		  	 (c)
	  	7.01
		  	 (d)
	  	7.01
		  	 (e)
	  	6.11
	 316
	  	 (a) (last sentence)
	  	2.09
		  	 (a)(1)(A)
	  	6.05
		  	 (a)(1)(B)
	  	6.04
		  	 (a)(2)
	  	N.A.
		  	 (b)
	  	6.07
		  	 (c)
	  	N.A.
	 317
	  	 (a)(1)
	  	6.08
		  	 (a)(2)
	  	6.09
		  	 (b)
	  	2.04
	 318
	  	 (a)
	  	13.01
		  	 (b)
	  	N.A.
		  	 (c)
	  	13.01

 N.A. means not applicable.

	*	This Cross Reference Table is not part of the Indenture. 

 TABLE OF CONTENTS 

 

					
	 	  	 	  	Page
	 Article 1

DEFINITIONS AND INCORPORATION

BY REFERENCE

			
	 Section 1.01
	  	Definitions	  	1
	 Section 1.02
	  	Other Definitions	  	21
	 Section 1.03
	  	Incorporation by Reference of Trust Indenture Act	  	22
	 Section 1.04
	  	Rules of Construction	  	23
	
	 Article 2

THE NOTES

			
	 Section 2.01
	  	Form and Dating	  	23
	 Section 2.02
	  	Execution and Authentication	  	24
	 Section 2.03
	  	Registrar and Paying Agent	  	24
	 Section 2.04
	  	Paying Agent to Hold Money in Trust	  	25
	 Section 2.05
	  	Holder Lists	  	25
	 Section 2.06
	  	Transfer and Exchange	  	25
	 Section 2.07
	  	Replacement Notes	  	37
	 Section 2.08
	  	Outstanding Notes	  	37
	 Section 2.09
	  	Treasury Notes	  	38
	 Section 2.10
	  	Temporary Notes	  	38
	 Section 2.11
	  	Cancellation	  	38
	 Section 2.12
	  	Defaulted Interest	  	38
	 Section 2.13
	  	CUSIP and ISIN Numbers	  	38
	
	 Article 3

REDEMPTION AND PREPAYMENT

			
	 Section 3.01
	  	Notices to Trustee	  	39
	 Section 3.02
	  	Selection of Notes to Be Redeemed or Purchased	  	39
	 Section 3.03
	  	Notice of Redemption	  	39
	 Section 3.04
	  	Effect of Notice of Redemption	  	40
	 Section 3.05
	  	Deposit of Redemption or Purchase Price	  	40
	 Section 3.06
	  	Notes Redeemed or Purchased in Part	  	41
	 Section 3.07
	  	Optional Redemption	  	41
	 Section 3.08
	  	Mandatory Redemption	  	42
	 Section 3.09
	  	Offer to Purchase by Application of Excess Proceeds	  	42
	
	 Article 4

COVENANTS

			
	 Section 4.01
	  	Payment of Notes	  	44
	 Section 4.02
	  	Maintenance of Office or Agency	  	44
	 Section 4.03
	  	Reports	  	44
	 Section 4.04
	  	Compliance Certificate	  	45
	 Section 4.05
	  	Taxes	  	45
	 Section 4.06
	  	Stay, Extension and Usury Laws	  	45
	 Section 4.07
	  	Restricted Payments	  	46
	 Section 4.08
	  	Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries	  	49
	 Section 4.09
	  	Incurrence of Indebtedness and Issuance of Preferred Stock	  	50

  

 i 

					
	 Section 4.10
	  	Asset Sales	  	54
	 Section 4.11
	  	Transactions with Affiliates	  	56
	 Section 4.12
	  	Liens	  	57
	 Section 4.13
	  	Sale and Leaseback Transactions	  	58
	 Section 4.14
	  	Corporate Existence	  	58
	 Section 4.15
	  	Offer to Repurchase Upon Change of Control	  	58
	 Section 4.16
	  	Additional Note Guarantees	  	60
	 Section 4.17
	  	Covenant Suspension	  	60
	
	 Article 5

SUCCESSORS

			
	 Section 5.01
	  	Merger, Consolidation, or Sale of Assets	  	61
	 Section 5.02
	  	Successor Corporation Substituted	  	62
	
	 Article 6

DEFAULTS AND REMEDIES

			
	 Section 6.01
	  	Events of Default	  	62
	 Section 6.02
	  	Acceleration	  	64
	 Section 6.03
	  	Other Remedies	  	64
	 Section 6.04
	  	Waiver of Past Defaults	  	64
	 Section 6.05
	  	Control by Majority	  	65
	 Section 6.06
	  	Limitation on Suits	  	65
	 Section 6.07
	  	Rights of Holders to Receive Payment	  	65
	 Section 6.08
	  	Collection Suit by Trustee	  	65
	 Section 6.09
	  	Trustee May File Proofs of Claim	  	66
	 Section 6.10
	  	Priorities	  	66
	 Section 6.11
	  	Undertaking for Costs	  	66
	
	 Article 7

TRUSTEE

			
	 Section 7.01
	  	Duties of Trustee	  	67
	 Section 7.02
	  	Rights of Trustee	  	68
	 Section 7.03
	  	Individual Rights of Trustee	  	69
	 Section 7.04
	  	Trustee’s Disclaimer	  	69
	 Section 7.05
	  	Notice of Defaults	  	69
	 Section 7.06
	  	Reports by Trustee to Holders	  	69
	 Section 7.07
	  	Compensation and Indemnity	  	70
	 Section 7.08
	  	Replacement of Trustee	  	71
	 Section 7.09
	  	Successor Trustee by Merger, etc.	  	72
	 Section 7.10
	  	Eligibility; Disqualification	  	72
	 Section 7.11
	  	Preferential Collection of Claims Against Company	  	72
	
	 Article 8

LEGAL DEFEASANCE AND COVENANT DEFEASANCE

			
	 Section 8.01
	  	Option to Effect Legal Defeasance or Covenant Defeasance	  	72
	 Section 8.02
	  	Legal Defeasance and Discharge	  	72
	 Section 8.03
	  	Covenant Defeasance	  	73
	 Section 8.04
	  	Conditions to Legal or Covenant Defeasance	  	73
	 Section 8.05
	  	Deposited Money and Government Securities to be Held in Trust; Other Miscellaneous Provisions	  	75
	 Section 8.06
	  	Repayment to Company	  	75
	 Section 8.07
	  	Reinstatement	  	75

  

 ii 

					
	 Article 9

AMENDMENT, SUPPLEMENT AND WAIVER

			
	 Section 9.01
	  	Without Consent of Holders	  	76
	 Section 9.02
	  	With Consent of Holders	  	77
	 Section 9.03
	  	Compliance with Trust Indenture Act	  	78
	 Section 9.04
	  	Revocation and Effect of Consents	  	78
	 Section 9.05
	  	Notation on or Exchange of Notes	  	79
	 Section 9.06
	  	Trustee to Sign Amendments, etc.	  	79
	
	Article 10
	[RESERVED]
	
	 Article 11

NOTE GUARANTEES

			
	 Section 11.01
	  	Guarantee	  	79
	 Section 11.02
	  	[Reserved]	  	80
	 Section 11.03
	  	Limitation on Guarantor Liability	  	80
	 Section 11.04
	  	[Reserved]	  	81
	 Section 11.05
	  	Guarantors May Consolidate, etc., on Certain Terms	  	81
	 Section 11.06
	  	Releases	  	81
	
	 Article 12

SATISFACTION AND DISCHARGE

			
	 Section 12.01
	  	Satisfaction and Discharge	  	82
	 Section 12.02
	  	Application of Trust Money	  	83
	
	 Article 13

MISCELLANEOUS

			
	 Section 13.01
	  	Trust Indenture Act Controls	  	83
	 Section 13.02
	  	Notices	  	83
	 Section 13.03
	  	Communication by Holders with Other Holders	  	84
	 Section 13.04
	  	Certificate and Opinion as to Conditions Precedent	  	85
	 Section 13.05
	  	Statements Required in Certificate or Opinion	  	85
	 Section 13.06
	  	Rules by Trustee and Agents	  	85
	 Section 13.07
	  	No Personal Liability of Directors, Officers, Employees and Stockholders	  	85
	 Section 13.08
	  	Governing Law	  	85
	 Section 13.09
	  	No Adverse Interpretation of Other Agreements	  	86
	 Section 13.10
	  	Successors	  	86
	 Section 13.11
	  	Payment Date Other Than a Business Day	  	86
	 Section 13.12
	  	Severability	  	87
	 Section 13.13
	  	Counterpart Originals	  	87
	 Section 13.14
	  	Table of Contents, Headings, etc.	  	87
	
	EXHIBITS
			
	 Exhibit A
	  	FORM OF NOTE	  	
	 Exhibit B
	  	FORM OF CERTIFICATE OF TRANSFER	  	
	 Exhibit C
	  	FORM OF CERTIFICATE OF EXCHANGE	  	
	 Exhibit D
	  	FORM OF SUPPLEMENTAL INDENTURE	  	

  

 iii 

 INDENTURE dated as of August 26, 2010 among Mueller Water Products, Inc., a Delaware
corporation, the Guarantors (as defined) and The Bank of New York Mellon Trust Company, N.A., a national banking association, as trustee. 

The Company (as defined), the Guarantors and the Trustee (as defined) agree as follows for the benefit of each other
and for the equal and ratable benefit of the Holders (as defined) of the
8 3/4% Senior Notes due 2020 including any
Additional Notes (as defined) issued hereunder (the “Notes”): 
 ARTICLE 1 

DEFINITIONS AND INCORPORATION 

BY REFERENCE 

Section 1.01 Definitions. 

“144A Global Note” means a Global Note substantially in the form of Exhibit A hereto bearing the Global Note Legend and the
Private Placement Legend and deposited with or on behalf of, and registered in the name of, the Depositary or its nominee that will be initially issued in a denomination equal to the outstanding principal amount of the Notes sold in reliance on
Rule 144A. 
 “Accounts Receivable Subsidiary” means an Unrestricted Subsidiary of the Company to which the
Company or any of its Restricted Subsidiaries sells any of its accounts receivable pursuant to a Receivables Facility. 

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

(1) Indebtedness, Disqualified Stock or preferred stock, in each case, of any other Person existing at the time that other
Person is merged with or into or became a Subsidiary of that specified Person, including, without limitation, Indebtedness, Disqualified Stock or preferred stock incurred in connection with, or in contemplation of, that other Person merging with or
into or becoming a Subsidiary of that specified Person; and 
 (2) Indebtedness, Disqualified Stock or preferred
stock, in each case, secured by a Lien encumbering an asset acquired by that specified Person at the time that asset is acquired by that specified Person. 

“Additional Notes” means additional Notes (other than the Initial Notes) issued under this Indenture in accordance with
Sections 2.02 and 4.09 hereof, as part of the same series as the Initial Notes. 
 “Additional Interest” means
all “Additional Interest” (as defined in the Registration Rights, Agreement), if any, then owing pursuant to the Registration Rights Agreement. 

“Affiliate” of any specified Person means any other Person which, directly or indirectly, controls, is controlled by or is
under direct or indirect common control with, that specified Person. For purposes of this definition, “control,” when used with respect to any Person, means the power to direct the management and policies of that Person, directly or
indirectly, whether through the ownership of voting securities, by contract or otherwise; provided that beneficial ownership of 10% or more of the Voting Stock of a Person shall be deemed to be control. For purposes of this definition, the
terms “controlling” and “controlled” have meanings correlative to the foregoing. 
 “Agent” means
any Registrar, co-registrar, Paying Agent or additional paying agent. 
  

 1 

 “Applicable Procedures” means, with respect to any transfer or exchange of or for
beneficial interests in any Global Note, the rules and procedures of the Depositary, Euroclear and Clearstream that apply to such transfer or exchange. 

“Asset Sale” means: 

(1) the sale, lease, conveyance, disposition or other transfer (a “disposition”) of any properties, assets or
rights (including, without limitation, by way of a sale and leaseback); provided that the sale, lease, conveyance or other disposition of all or substantially all of the assets of the Company and its Subsidiaries taken as a whole will be
governed by the provisions of Section 4.15 and Section 5.01 hereof and not Section 4.10 hereof; and 

(2) the issuance, sale or transfer by the Company or any of its Restricted Subsidiaries of Equity Interests of any of the
Company’s Restricted Subsidiaries, 
 in the case of either clause (1) or (2), whether in a single transaction or a series of related
transactions, 
 (a) that have a fair market value in excess of $10.0 million; or 

(b) for net proceeds in excess of $10.0 million. 

Notwithstanding the foregoing, the following items shall not be deemed to be Asset Sales: 

(1) dispositions in the ordinary course of business; 

(2) a disposition of assets by the Company to a Restricted Subsidiary or by a Restricted Subsidiary to the Company or to
another Restricted Subsidiary; 
 (3) a disposition of Equity Interests by a Restricted Subsidiary to the Company
or to another Restricted Subsidiary; 
 (4) the sale and leaseback of any assets within 90 days of the
acquisition thereof; 
 (5) foreclosures on assets; 

(6) any exchange of like property pursuant to Section 1031 of the Internal Revenue Code of 1986, as amended, for use
in a Permitted Business; 
 (7) any sale of Equity Interests in, or Indebtedness or other securities of, an
Unrestricted Subsidiary; 
 (8) a Permitted Investment or a Restricted Payment that is permitted by
Section 4.07 hereof; and 
 (9) sales of accounts receivable, or participation therein, in connection with
any Receivables Facility. 
 “Attributable Indebtedness” in respect of a Sale and Leaseback Transaction means, at the
time of determination, the present value (discounted at the rate of interest implicit in that transaction, determined in accordance with GAAP) of the obligation of the lessee for net rental payments during the remaining term of the lease included in
that Sale and Leaseback Transaction, including any period for which that lease has been extended or may, at the option of the lessor, be extended. 
  

 2 

 “Bankruptcy Law” means Title 11, U.S. Code or any similar federal or state law for
the relief of debtors. 
 “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” will 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 after the passage of time. The terms
“Beneficially Owns” and “Beneficially Owned” have a corresponding meaning. 
 “Board of Directors”
means: 
 (1) with respect to a corporation, the board of directors of the corporation or any committee thereof
duly authorized to act on behalf of such board; 
 (2) with respect to a partnership, the Board of Directors,
managing member or members or the sole member or any controlling committee of managing members of the general partner of the partnership; 

(3) with respect to a limited liability company, the managing member or members or the sole member or any controlling
committee of managing members thereof; and 
 (4) with respect to any other Person, the board or committee of
such Person serving a similar function. 
 “Broker-Dealer” has the meaning set forth in the Registration Rights
Agreement. 
 “Business Day” means any day other than a Legal Holiday. 

“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 interests (whether general or limited) or membership interests; 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: 

(1) Government Securities maturing, unless such securities are deposited to defease any Indebtedness, not more than
365 days after the date of acquisition; 
  

 3 

 (2) any certificate of deposit maturing not more than 365 days after
the date of acquisition issued by, or demand deposit or time deposit of, an Eligible Institution or any commercial banking institution that is a lender under the Credit Agreement; 

(3) commercial paper maturing not more than 365 days after the date of acquisition of an issuer (other than an
Affiliate of the Company) with a rating, at the time as of which any investment therein is made, of “A-3” (or higher) according to S&P or “P-2” (or higher) according to Moody’s or carrying an equivalent rating by a
nationally recognized rating agency if both of the two named rating agencies cease publishing ratings of investments; 

(4) any bankers acceptances of money market deposit accounts issued by an Eligible Institution; 

(5) any fund investing exclusively in investments of the types described in clauses (1) through (4) above; and

 (6) in the case of any Subsidiary organized or having its principal place of business outside the United
States, investments denominated in the currency of the jurisdiction in which that Subsidiary is organized or has its principal place of business which are similar to the items specified in clauses (1) through (5) above, including without
limitation any deposit with a commercial banking institution that is a lender to any Restricted Subsidiary. 
 “Change of
Control” means the occurrence of any of the following: 
 (1) the sale, lease, 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 assets of the Company and its Subsidiaries, taken as a whole, to any “person” or “group”
(as those terms are used in Section 13(d) of the Exchange Act); 
 (2) the adoption of a plan for the
liquidation or dissolution of the Company; 
 (3) the consummation of any transaction, including, without
limitation, any merger or consolidation, the result of which is that any “person” or “group” (as those terms are used in Section 13(d) of the Exchange Act), becomes the “beneficial owner” (as that term is defined
in Rule 13d-3 and Rule 13d-5 under the Exchange Act), directly or indirectly through one or more intermediaries, of more than 50% of the voting power of the outstanding Voting Stock of the Company; or 

(4) the first day on which a majority of the members of the Board of Directors of the Company are not Continuing Members.

 “Clearstream” means Clearstream Banking, S.A. 

“Company” means Mueller Water Products, Inc., and any successor obligor pursuant to Section 5.01. 

 

 4 

 “Consolidated Cash Flow” means, with respect to any Person for any period, the
Consolidated Net Income of that Person and its Restricted Subsidiaries for that period plus, to the extent deducted in computing Consolidated Net Income: 

(1) provision for taxes based on income or profits of that Person and its Restricted Subsidiaries for that period;

 (2) Fixed Charges of that Person for that period; 

(3) depreciation, amortization (including amortization of goodwill and other intangibles) and all other non-cash charges
(but excluding any other non-cash charge to the extent that it represents an accrual of or reserve for cash expenses that will be paid within twelve months after the date of determination), of that Person and its Restricted Subsidiaries for
that period; 
 (4) any non-capitalized transaction costs incurred in connection with actual, proposed or
abandoned financings, acquisitions or divestitures, including, but not limited to, any earn-out or similar expenses in connection with acquisitions or dispositions and financing and refinancing fees and costs incurred in connection with the Offering
and related transactions, in each case, on a consolidated basis and determined in accordance with GAAP; and 

(5) net periodic pension and other post-retirement benefits. 

Notwithstanding the foregoing, the provision for taxes based on the income or profits of, the Fixed Charges of, and the
depreciation and amortization and other non-cash charges of, a Restricted Subsidiary of a Person shall be added to Consolidated Net Income to compute Consolidated Cash Flow only to the extent and in the same proportion that Net Income of that
Restricted Subsidiary was included in calculating the Consolidated Net Income of that Person. 
 “Consolidated Interest
Expense” means, with respect to any Person for any period, the sum of, without duplication, 
 (1) the
interest expense of that Person and its Restricted Subsidiaries for that period, on a consolidated basis, determined in accordance with GAAP, including amortization of original issue discount, non-cash interest payments, the interest component of
all payments associated with Capital Lease Obligations, imputed interest with respect to Attributable Indebtedness, commissions, discounts and other fees and charges incurred in respect of letter of credit or bankers’ acceptance financings, and
net payments, if any, pursuant to Hedging Obligations; provided that in no event shall any amortization or write-off of deferred financing costs or redemption premiums or prepayment penalties be included in Consolidated Interest Expense; and

 (2) the consolidated capitalized interest of that Person and its Restricted Subsidiaries for that period,
whether paid or accrued; 
 provided, however, that Receivables Fees shall be deemed not to constitute Consolidated Interest Expense.

 Notwithstanding the foregoing, the Consolidated Interest Expense with respect to any Restricted Subsidiary that is not a
Wholly Owned Restricted Subsidiary shall be included only to the extent and in the same proportion that the net income of that Restricted Subsidiary was included in calculating Consolidated Net Income. 

 

 5 

 “Consolidated Net Income” means, with respect to any Person for any period, the
aggregate of the Net Income of that Person and its Restricted Subsidiaries for that period, on a consolidated basis, determined in accordance with GAAP; provided that: 

(1) the Net Income (or 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 referent Person or a Restricted Subsidiary thereof; 

(2) the Net Income (or loss) of any Restricted Subsidiary other than a Subsidiary organized or having its principal place
of business outside the United States shall be excluded to the extent that the declaration or payment of dividends or similar distributions by that Restricted Subsidiary of that Net Income (or loss) 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; 
 (3) the Net Income (or loss) of any Person acquired for any period prior to the
date of that acquisition shall be excluded; and 
 (4) the cumulative effect of a change in accounting principles
shall be excluded. 
 “Continuing Member” means, as of any date of determination, any member of the Board of Directors
of the Company who: 
 (1) was a member of the Company’s Board of Directors on the date of this Indenture;
or 
 (2) was nominated for election or elected to the Company’s Board of Directors with the approval of, or
whose election to the Board of Directors was ratified by, at least a majority of the Continuing Members who were members of the Company’s Board of Directors at the time of that nomination or election. 

“Corporate Trust Office of the Trustee” means the office of the Trustee at which at any particular time its corporate trust
business for Atlanta, Georgia shall be principally administered, which office as of the date of this Indenture is located at the address of the Trustee specified in Section 13.02 hereof, provided that with respect to presentation of
Notes for payment or for registration of transfer or exchange, such term means the office or agency of the Trustee at which at any particular time its corporate agency business shall be conducted, which office as of the date of this Indenture is
located at 101 Barclay Street, New York, New York 10286; Attention: Corporate Trust Division – Corporate Finance Unit, or, in the case of any of such offices or agency, such other address as the Trustee may designate from time to time by notice
to the Holders and the Company. 
 “Credit Agreement” means that certain Credit Agreement, dated as of the date
hereof, among Mueller Water Products, Inc., certain of its subsidiaries, various financial institutions party thereto, and Bank of America, N.A., as administrative agent, including any related notes, guarantees, collateral documents, instruments and
agreements executed in connection therewith, and, in each case, as amended, modified, renewed, refunded, replaced or refinanced from time to time, including, without limitation, any agreement: 

(1) extending or shortening the maturity of any Indebtedness incurred thereunder or contemplated thereby; 

 

 6 

 (2) adding or deleting borrowers or guarantors thereunder; 

(3) increasing the amount of Indebtedness incurred thereunder or available to be borrowed thereunder; or 

(4) otherwise altering the terms and conditions thereof. 

“Credit Facilities” means one or more debt facilities (including the Credit Agreement), commercial paper facilities, or
indentures providing for revolving credit loans, term loans, notes, or other financing or letters of credit, or other credit facilities, in each case as amended, modified, renewed, refunded, replaced or refinanced from time to time. 

“Custodian” means the Trustee, as custodian with respect to the Notes in global form, or any successor entity thereto.

 “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. 
 “Definitive Note” means a certificated Note registered in the name of the Holder thereof and issued in
accordance with Section 2.06 hereof, substantially in the form of Exhibit A hereto, except that such Note shall not bear the Global Note Legend and shall not have the “Schedule of Exchanges of Interests in the Global Note”
attached thereto. 
 “Depositary” means, with respect to the Notes issuable or issued in whole or in part in global
form, the Person specified in Section 2.03 hereof as the Depositary with respect to the Notes, and any and all successors thereto appointed as depositary hereunder and having become such pursuant to the applicable provision of this Indenture.

 “Designated Noncash Consideration” means the fair market value of non-cash consideration received by the Company or
one of its Restricted Subsidiaries in connection with an Asset Sale that is so designated as Designated Noncash Consideration pursuant to an Officers’ Certificate, setting forth the basis of that valuation, executed by the principal executive
officer and the principal financial officer of the Company, less the amount of cash or Cash Equivalents received in connection with a sale of that Designated Noncash Consideration. 

“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), or upon the happening of any event (other than any event solely within the control of the issuer thereof), matures or is mandatorily redeemable, pursuant to a sinking fund obligation or otherwise, is exchangeable
for Indebtedness (except to the extent exchangeable at the option of that Person subject to the terms of any debt instrument to which that Person is a party) or redeemable at the option of the holder thereof, in whole or in part, on or prior to the
date on which the Notes mature; provided that any Capital Stock that would constitute Disqualified Stock solely because the holders thereof have the right to require the Company to repurchase that Capital Stock upon the occurrence of a Change
of Control or an Asset Sale shall not constitute Disqualified Stock if the terms of that Capital Stock provide that the Company may not repurchase or redeem any such Capital Stock pursuant to those provisions unless that repurchase or redemption
complies with Section 4.07 hereof; and provided further that, if that Capital Stock is issued to any plan for the benefit of employees of the Company or its Subsidiaries or by any such plan to those employees, that Capital Stock shall
not constitute Disqualified Stock solely because it may be required to be repurchased by the Company in order to satisfy applicable statutory or regulatory obligations. 
  

 7 

 “Domestic Subsidiary” means a Restricted Subsidiary of the Company that is
organized under the laws of the United States or any State or district thereof. 
 “Eligible Institution” means a
commercial banking institution that has combined capital and surplus not less than $100.0 million or its equivalent in foreign currency, whose short-term debt is rated “A-1” or higher according to S&P or “P-1” or higher
according to Moody’s or carrying an equivalent rating by a nationally recognized rating agency if both of the two named rating agencies cease publishing ratings of investments. 

“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). 
 “Euroclear” means Euroclear Bank,
S.A./N.V., as operator of the Euroclear system. 
 “Exchange Act” means the Securities Exchange Act of 1934, as
amended. 
 “Exchange Guarantees” means the Note Guarantees of the Exchange Notes issued in the Exchange Offer.

 “Exchange Notes” means the Notes issued in the Exchange Offer pursuant to Section 2.06(f) hereof. 

“Exchange Offer” has the meaning set forth in the Registration Rights Agreement. 

“Existing Indebtedness” means Indebtedness of the Company and its Restricted Subsidiaries (other than Indebtedness under the
Credit Agreement) in existence on the date of this Indenture, until those amounts are repaid. 
 “fair market value”
means fair market value as determined in good faith by the management or Board of Directors of the Company; provided that if such determination of fair market value exceeds $25.0 million, such determination shall be evidenced by a
resolution of the Board of Directors of the Company set forth in an Officers’ Certificate delivered to the Trustee. 

“Fixed Charge Coverage Ratio” means, with respect to any Person for any period, the ratio of the Consolidated Cash Flow of that
Person for that period (exclusive of amounts attributable to discontinued operations, as determined in accordance with GAAP, or operations and businesses disposed of prior to the Calculation Date (as defined)) to the Fixed Charges of that Person for
that period (exclusive of amounts attributable to discontinued operations, as determined in accordance with GAAP, or operations and businesses disposed of prior to the Calculation Date). 

In the event that the referent Person or any of its Subsidiaries incurs, assumes, guarantees or redeems any Indebtedness (other than
revolving credit borrowings) or issues or redeems preferred stock subsequent to the commencement of the period for which the Fixed Charge Coverage Ratio is being calculated but 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 that incurrence, assumption, guarantee or redemption of Indebtedness, or that issuance or
redemption of 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 making the computation referred to above, acquisitions that have been made by the Company or any of its
Subsidiaries, including all mergers or consolidations and any related 
  

 8 

 
financing transactions, during the four-quarter reference period or subsequent to that reference period and on or prior to the Calculation Date shall be deemed to have occurred on the first day
of the four-quarter reference period and Consolidated Cash Flow for that reference period shall be calculated to include the Consolidated Cash Flow of the acquired entities on a pro forma basis after giving effect to cost savings reasonably expected
to be realized in connection with that acquisition, as calculated on a basis that is consistent with Article 11 of Regulation S-X under the Securities Act and without giving effect to clause (3) of the proviso set forth in the
definition of Consolidated Net Income. 
 “Fixed Charges” means, with respect to any Person for any period, the sum,
without duplication, of: 
 (1) the Consolidated Interest Expense of that Person for that period, excluding any
amounts that represent mark-to-market gains or losses; and 
 (2) all dividend payments on any series of
Disqualified Stock or preferred stock of that Person (other than dividends payable solely in Equity Interests that are not Disqualified Stock), or any Restricted Subsidiary of that Person, 

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

“GAAP” means generally accepted accounting principles set forth in the opinions 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 date of this Indenture. 

“Global Note Legend” means the legend set forth in Section 2.06(g)(2) hereof, which is required to be placed on all Global
Notes issued under this Indenture. 
 “Global Notes” means, individually and collectively, each of the Restricted
Global Notes and the Unrestricted Global Notes deposited with or on behalf of and registered in the name of the Depositary or its nominee, substantially in the form of Exhibit A hereto and that bears the Global Note Legend and that has the
“Schedule of Exchanges of Interests in the Global Note” attached thereto, issued in accordance with Section 2.01, 2.06(b)(3), 2.06(b)(4), 2.06(d)(2) or 2.06(f) hereof. 

“Government Securities” means direct obligations of, or obligations guaranteed by, the United States of America, and the
payment for which the United States pledges its full faith and credit. 
 “guarantee” means 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, letters of credit or reimbursement agreements in respect thereof), of all or any part of any
Indebtedness. 
 “Guarantors” means (i) each Restricted Subsidiary of the Company on the date of this Indenture
that is a Domestic Subsidiary and (ii) any other Subsidiary that executes a Note Guarantee in accordance with the provisions hereof, and their respective successors and assigns, in each case until released from their respective obligations
under the Note Guarantees in accordance with this Indenture. 
 “Hedging Obligations” means, with respect to any
Person, the obligations of that Person under (a) interest rate swap agreements, interest rate cap agreements and interest rate collar agreements, and other agreements or arrangements with respect to interest rates, (b) agreements or
arrangements with 
  

 9 

 
respect to foreign currency rates and (c) commodity swap agreements, commodity option agreements, forward contracts and other agreements or arrangements with respect to commodity prices.

 “Holder” means a Person in whose name a Note is registered. 

“Indebtedness” means, with respect to any Person, any indebtedness of that Person in respect of borrowed money or evidenced by
bonds, notes, debentures or similar instruments or letters of credit (or reimbursement agreements in respect thereof) or banker’s acceptances or representing Capital Lease Obligations, Attributable Indebtedness in respect of a Sale and
Leaseback Transaction, or the balance deferred and unpaid of the purchase price of any property or representing any Hedging Obligations, except any such balance that constitutes an accrued expense, trade payable or customer contract advances, if and
to the extent any of the foregoing Indebtedness (other than letters of credit and Hedging Obligations) would appear as a liability upon a balance sheet of that Person prepared in accordance with GAAP, as well as all Indebtedness of others secured by
a Lien on any asset of that Person (whether or not that Indebtedness is assumed by that Person) and, to the extent not otherwise included, the guarantee by that Person of any Indebtedness of any other Person; provided that Indebtedness shall
not include the pledge by the Company of the Capital Stock of an Unrestricted Subsidiary of the Company to secure Non-Recourse Debt of that Unrestricted Subsidiary. 

The amount of any Indebtedness outstanding as of any date shall be: 

(1) the accreted value thereof (together with any interest thereon that is more than 30 days past due), in the case
of any Indebtedness that does not require current payments of interest; and 
 (2) the principal amount thereof,
in the case of any other Indebtedness (except as set forth below); provided that the principal amount of any Indebtedness that is denominated in any currency other than United States dollars shall be the amount thereof, as determined pursuant
to the foregoing provision, converted into United States dollars at the Spot Rate in effect on the date that Indebtedness was incurred or, if that Indebtedness was incurred prior to the date of this Indenture, the Spot Rate in effect on the date of
this Indenture. 
 “Indenture” means this Indenture, as amended or supplemented from time to time. 

“Indirect Participant” means a Person who holds a beneficial interest in a Global Note through a Participant. 

“Initial Notes” means the Notes issued on the date of this Indenture and any Notes issued in exchange or replacement therefor.

 “Investment Grade” means (1) BBB- or above, in the case of S&P (or its equivalent under any successor
Rating Categories of S&P) and Baa3 or above, in the case of Moody’s (or its equivalent under any successor Rating Categories of Moody’s), or (2) the equivalent in respect of the Rating Categories of any Rating Agencies.

 “Investments” means, with respect to any Person, all investments by that Person in other Persons, including
Affiliates, in the forms of direct or indirect loans (including guarantees by the referent Person of, and Liens on any assets of the referent Person securing, Indebtedness or other obligations of other Persons), advances or capital contributions
(excluding commission, travel and similar advances to officers and employees made in the ordinary course of business), purchases or other acquisitions for consideration 

 

 10 

 
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, that Person is no longer a 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 Equity Interests of that Restricted Subsidiary not sold or disposed of in an amount determined as provided in the final paragraph of Section 4.07 hereof. 

“Legal Holiday” means a Saturday, a Sunday or a day on which banking institutions in the City of New York or at a place of
payment are authorized by law, regulation or executive order to remain closed. 
 “Letter of Transmittal” means the
letter of transmittal to be prepared by the Company and sent to all Holders for use by such Holders in connection with the Exchange Offer. 

“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. 

“Material Subsidiary” means any Subsidiary that would be a “significant subsidiary” as defined in either
clause (1) or clause (2) of Article 1, Rule 1-02(w) of Regulation S-X, promulgated pursuant to the Securities Act, as that Regulation is in effect on the date hereof; provided that 5% will be substituted for 10% each
place it appears in such definition. 
 “Moody’s” means Moody’s Investors Service, Inc. 

“Net Income” means, with respect to any Person, the net income (loss) of that 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 that gain (or loss), realized in connection with: 
 (a) any
Asset Sale, including, without limitation, dispositions pursuant to Sale and Leaseback Transactions; or 
 (b)
the extinguishment of any Indebtedness of that Person or any of its Restricted Subsidiaries (including redemption premiums and pre-payment penalties); and 

(2) any extraordinary, unusual or nonrecurring income (or expense) or any restructuring costs, or costs reasonably
determined by management to be associated with facility or product line closures, consolidation or rationalization, together with any related provision for taxes. 

 

 11 

 “Net Proceeds” means the aggregate cash proceeds 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, without duplication: 

(1) the direct costs relating to that Asset Sale, including, without limitation, legal, accounting and investment banking
fees, and sales commissions, recording fees, title transfer fees and appraiser fees and cost of preparation of assets for sale, and any relocation expenses incurred as a result thereof; 

(2) taxes paid or payable as a result thereof (after taking into account any available tax credits or deductions and any
tax sharing arrangements); 
 (3) amounts required to be applied to the repayment of Indebtedness (other than
revolving credit Indebtedness incurred pursuant to the Credit Agreement) secured by a Lien on the asset or assets that were the subject of that Asset Sale; and 

(4) any reserve established in accordance with GAAP or any amount placed in escrow, in either case for adjustment in
respect of the sale price of such asset or assets until such time as that reserve is reversed or that escrow arrangement is terminated, in which case Net Proceeds shall include only the amount of the reserve so reversed or the amount returned to the
Company or its Restricted Subsidiaries from that escrow arrangement, as the case may be. 
 “Non-Recourse Debt” means
Indebtedness, 
 (1) no default with respect to which (including any rights that the holders thereof may have to
take enforcement action against an Unrestricted Subsidiary) would permit (upon notice, lapse of time or both) any holder of any other Indebtedness of the Company or any of its Restricted Subsidiaries to declare a default on such other Indebtedness
or cause the payment thereof to be accelerated or payable prior to its Stated Maturity; and 
 (2) as to which
the lenders have been notified in writing that they will not have any recourse to the stock (other than the stock of an Unrestricted Subsidiary pledged by the Company to secure debt of that Unrestricted Subsidiary) or assets of the Company or any of
its Restricted Subsidiaries; 
 provided that in no event shall Indebtedness of any Unrestricted Subsidiary fail to be Non-Recourse Debt
solely as a result of any default provisions (and any related right of recourse) contained in a guarantee thereof by the Company or any of its Restricted Subsidiaries if the Company or that Restricted Subsidiary was otherwise permitted to incur that
guarantee pursuant to this Indenture. 
 “Non-U.S. Person” means a Person who is not a U.S. Person. 

“Note Guarantee” means a guarantee of the Notes pursuant to this Indenture. 

“Notes” has the meaning assigned to it in the preamble to this Indenture. 

“Obligations” means any principal, interest, penalties, fees, indemnifications, reimbursements, damages and other liabilities
payable under the documentation governing any Indebtedness. 
 “Offering” means the offering of the Initial Notes.

  

 12 

 “Offering Memorandum” means the offering memorandum of the Company, dated
August 19, 2010, relating to the offering of the Initial Notes. 
 “Officer” means, with respect to any Person,
the Chief Executive Officer, the President, the Chief Operating Officer, the Chief Financial Officer, the Chief Accounting Officer, the Treasurer, any Assistant Treasurer, the Controller, the Secretary, any Assistant Secretary or any Vice President
of such Person. 
 “Officers’ Certificate” means a certificate signed by two Officers of the Company, that meets
the requirements of Section 13.05 hereof, and delivered to the Trustee. 
 “Opinion of Counsel” means an opinion
from legal counsel who is acceptable to the Trustee, that meets the requirements of Section 13.05 hereof. The counsel may be an employee of or counsel to the Company or any Subsidiary of the Company. 

“Pari Passu Indebtedness” means Indebtedness of the Company that ranks pari passu in right of payment to the Notes and
Indebtedness of a Guarantor that ranks pari passu in right of payment to the Note Guarantee of that Guarantor. 

“Participant” means, with respect to the Depositary, Euroclear or Clearstream, a Person who has an account with the Depositary,
Euroclear or Clearstream, respectively (and, with respect to DTC, shall include Euroclear and Clearstream). 
 “Permitted
Business” means the business conducted by the Company and its Restricted Subsidiaries on the date of this Indenture and any business reasonably related, incidental or ancillary thereto. 

“Permitted Investments” means: 

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

(2) any Investment in cash or Cash Equivalents; 

(3) any Investment by the Company or any Restricted Subsidiary of the Company in a Person, if as a result of that
Investment, 
 (a) that Person becomes a Restricted Subsidiary of the Company; or 

(b) that 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 that was made pursuant to and in compliance with Section 4.10 hereof; 

(5) any Investment to the extent acquired in exchange for, or out of the proceeds of a substantially concurrent issuance
of, Equity Interests (other than Disqualified Stock) of the Company; 
 (6) any Investment in a Person (other
than an Unrestricted Subsidiary or any Person that is an Affiliate of the Company other than any Person that is an Affiliate of the Company solely because the Company, directly or indirectly, owns Equity Interests in, or controls, such Person)

  

 13 

 
engaged in a Permitted Business having an aggregate fair market value, taken together with all other Investments made pursuant to this clause (6) that are at that time outstanding, not to
exceed 15% of Total Assets at the time of that Investment (with the fair market value of each Investment being measured at the time made and without giving effect to subsequent changes in value); 

(7) Investments relating to any special purpose Wholly Owned Subsidiary of the Company organized in connection with a
Receivables Facility that, in the good faith determination of the board of directors of the Company, are necessary or advisable to effect that Receivables Facility; 

(8) Hedging Obligations permitted to be incurred under Section 4.09 hereof incurred in the ordinary course of
business; 
 (9) advances or loans to, or guarantees of Indebtedness of, employees not in excess of
$5.0 million outstanding at any one time in the aggregate; and 
 (10) Investments in existence on the date
of this Indenture. 
 “Permitted Liens” means: 

(1) Liens on property or shares of a Person existing at the time that Person is merged into or consolidated with or
acquired by the Company or any Restricted Subsidiary; provided that those Liens were not incurred in contemplation of that merger or consolidation or acquisition and do not extend to any property or assets of the Company or any Restricted
Subsidiary other than the property or assets subject to the Liens prior to that merger or consolidation or acquisition; 

(2) Liens existing on the date of this Indenture (other than any Liens securing Indebtedness under the Credit Agreement);

 (3) Liens securing Indebtedness consisting of Capitalized Lease Obligations, purchase money Indebtedness,
mortgage financings, industrial revenue bonds or other monetary obligations (and all Obligations in respect thereof), in each case incurred solely for the purpose of financing all or any part of the purchase price or cost of construction or
installation of assets used in the business of the Company or its Restricted Subsidiaries, or repairs, additions or improvements to those assets (including Capital Stock of any Person owning such assets); provided that: 

(a) those Liens secure Indebtedness in an amount not in excess of the original purchase price or the original cost of any
such assets or repair, additional or improvement thereto (plus an amount equal to the reasonable fees and expenses in connection with the incurrence of that Indebtedness); 

(b) those Liens do not extend to any other assets of the Company or its Restricted Subsidiaries (and, in the case of
repair, addition or improvements to any such assets, that Lien extends only to the assets (and improvements thereto or thereon) repaired, added to or improved); 

(c) the Indebtedness is permitted by Section 4.09(b)(4) hereof; and 

(d) those Liens attach within 180 days of that purchase, construction, installation, repair, addition or improvement;

  

 14 

 (4) Liens to secure any refinancings, renewals, extensions, modification or
replacements (collectively, “refinancing”) (or successive refinancings), in whole or in part, of any Indebtedness secured by Liens referred to in the clauses above (and all Obligations in respect thereof) so long as that Lien does not
extend to any other property (other than improvements thereto); 
 (5) Liens securing surety bonds or letters of
credit entered into in the ordinary course of business and consistent with past business practice; 
 (6) Liens
on and pledges of the capital stock of any Unrestricted Subsidiary securing Non-Recourse Debt of that Unrestricted Subsidiary; 

(7) Liens on specific items of inventory or other goods or proceeds of any Person securing such Person’s obligations
in respect of bankers’ acceptances issued or created for the account of such Person to facilitate the shipment or storage of such inventory or other goods; 

(8) Liens in favor of the Company or any Guarantor; 

(9) Liens securing Indebtedness permitted to be incurred under Section 4.09(b)(1) hereof; 

(10) Liens on Cash Equivalents securing Hedging Obligations of the Company or any Restricted Subsidiary (a) that are
incurred for the purpose of fixing, hedging or swapping 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, or
(b) securing letters of credit that support such Hedging Obligations; 
 (11) Liens incurred or deposits
made in the ordinary course of business in connection with worker’s compensation, unemployment insurance or other social security obligations; 

(12) Liens, deposits or pledges to secure the performance of bids, tenders, contracts (other than contracts for the
payment of Indebtedness), or other similar obligations arising in the ordinary course of business; 
 (13) survey
exceptions, encumbrances, easements or reservations of, or rights of other for, rights of way, zoning or other restrictions as to the use of properties, and defects in title which, in the case of any of the foregoing, which in the aggregate do no
materially adversely affect the value of such properties or materially impair the use for the purposes of which such properties are held by the Company or any Restricted Subsidiary; 

(14) judgment and attachment Liens not giving rise to an Event of Default and notices of litigation being contested in
good faith by appropriate proceedings and for which adequate reserves have been made; 
 (15) Liens, deposits or
pledges to secure public or statutory obligations, surety, stay, appeal, indemnity, performance or other similar bonds or obligations; and Liens, deposits or pledges in lieu of such bonds or obligations, or to secure such bonds or obligations, or to
secure letters of credit in lieu of or supporting the payment of such bonds or obligations; 
 (16) Liens in
favor of collecting or payor banks having a right of setoff, revocation, refund or chargeback with respect to money or instruments of the Company or any Subsidiary thereof on deposit with or in possession of such bank; 

 

 15 

 (17) any interest or title of a lessor, licensor or sublicensor in the
property subject to any lease, license or sublicense (other than any property that is the subject of a Sale and Leaseback Transaction); 

(18) Liens for taxes, assessments and governmental charges not yet delinquent or being contested in good faith and for
which adequate reserves have been established to the extent required by GAAP; 
 (19) Liens arising from
precautionary UCC financing statements regarding operating leases or consignments; 
 (20) Liens of franchisors
in the ordinary course of business not securing Indebtedness; 
 (21) Liens securing Attributable Indebtedness
relating to Sale and Leaseback Transactions having an aggregate amount at any one time outstanding not to exceed $10.0 million; and 

(22) other Liens securing Indebtedness that is permitted by the terms of this Indenture to be outstanding having an
aggregate principal amount at any one time outstanding not to exceed $50.0 million. 
 “Permitted Refinancing
Indebtedness” means any Indebtedness or Disqualified Stock of the Company or Indebtedness, Disqualified Stock or preferred stock of any of its Restricted Subsidiaries issued within 90 days after repayment of, in exchange for, or the net
proceeds of which are used to extend, refinance, renew, replace, defease or refund other Indebtedness or Disqualified Stock of the Company or Indebtedness, Disqualified Stock or preferred stock of any of its Restricted Subsidiaries; provided
that: 
 (1) the principal amount (or accreted value, if applicable) of that Permitted Refinancing Indebtedness
does not exceed the principal amount of (or accreted value, if applicable), plus premium, if any, and accrued interest on the Indebtedness so extended, refinanced, renewed, replaced, defeased or refunded (plus the amount of reasonable
expenses incurred in connection therewith); 
 (2) that Permitted Refinancing Indebtedness has a final maturity
date no earlier 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;

 (3) if the Indebtedness being extended, refinanced, renewed, replaced, defeased or refunded is subordinated in
right of payment to the Notes or any Note Guarantee, that Permitted Refinancing Indebtedness is subordinated in right of payment to the Notes or such Note Guarantee on terms at least as favorable, taken as a whole, to the Holders as those contained
in the documentation governing the Indebtedness being extended, refinanced, renewed, replaced, defeased or refunded; 

(4) if the Indebtedness being extended, refinanced, renewed, replaced, defeased or refunded is Pari Passu Indebtedness,
such Permitted Refinancing Indebtedness is pari passu with, or subordinated in right of payment to, the Notes or the relevant Note Guarantee, as the case may be; 
  

 16 

 (5) if Disqualified Stock or preferred stock is being extended, refinanced,
renewed, replaced, defeased or refunded, such Permitted Refinancing Indebtedness must be Disqualified Stock or preferred stock, respectively; and 

(6) such Indebtedness, Disqualified Stock or preferred stock is Incurred or issued, as the case may be, by either
(a) the Restricted Subsidiary that is the obligor on, or the issuer of, the Indebtedness, Disqualified Stock or preferred stock being extended, refinanced, renewed, replaced, defeased or refunded, (b) the Company or (c) 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. 
 “Private Placement Legend”
means the legend set forth in Section 2.06(g)(1) hereof to be placed on all Notes issued under this Indenture except where otherwise permitted by the provisions of this Indenture. 

“Public Equity Offering” means any issuance of common stock (other than Disqualified Stock) by the Company that is registered
pursuant to the Securities Act, other than issuances (a) registered on Form S-8, (b) registered on Form S-4, or (c) pursuant to employee benefit plans of the Company or otherwise as compensation to employees, directors or consultants
of the Company. 
 “QIB” means a “qualified institutional buyer” as defined in Rule 144A. 

“Qualified Proceeds” means any of the following or any combination of the following: 

(1) cash; 

(2) Cash Equivalents; 

(3) assets (other than Investments) that are used or useful in a Permitted Business; and 

(4) the Capital Stock of any Person engaged in a Permitted Business if, in connection with the receipt by the Company or
any Restricted Subsidiary of the Company of that Capital Stock, 
 (a) that Person becomes a Restricted Subsidiary of the
Company or any Restricted Subsidiary of the Company; or 
 (b) that 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 any Restricted Subsidiary of the Company. 

“Rating Agencies” means (1) S&P and Moody’s or (2) if S&P or Moody’s or both of them are not making
ratings on the Notes publicly available, a nationally recognized U.S. rating agency or agencies, as the case may be, selected by the Company, which will be substituted for S&P or Moody’s or both, as the case may be. 

“Rating Category” means (1) with respect to S&P, any of the following categories (certain of which may include a
“+” or a “–”): AAA, AA, A, BBB, BB, B, CCC, CC, C and D (or equivalent successor categories), (2) with respect to Moody’s, any of the following categories (certain of which may include a “1,”
“2” or “3”): Aaa, Aa, A, Baa, Ba, B, Caa, Ca, C and D (or equivalent successor categories) 
  

 17 

 
and (3) the equivalent of any such categories of S&P or Moody’s used by another Rating Agency, if applicable. 

“Receivables Facility” means one or more receivables financing facilities, as amended from time to time, pursuant to which the
Company or any of its Restricted Subsidiaries sells its accounts receivable to an Accounts Receivable Subsidiary. 

“Receivables Fees” means distributions or payments made directly or by means of discounts with respect to any participation
interests issued or sold in connection with, and other fees paid to a Person that is not a Restricted Subsidiary in connection with, any Receivables Facility. 

“Registration Rights Agreement” means the Registration Rights Agreement, dated the date hereof, among the Company, the
Guarantors and the other parties named on the signature pages thereof, as such agreement may be amended, modified or supplemented from time to time. 

“Regulation S” means Regulation S promulgated under the Securities Act. 

“Regulation S Global Note” means a Global Note in the form of Exhibit A hereto bearing the Global Note Legend and the
Private Placement Legend and deposited with or on behalf of and registered in the name of the Depositary or its nominee, initially issued in a denomination equal to the outstanding principal amount of the Notes sold in reliance on Regulation S.

 “Responsible Officer,” when used with respect to the Trustee, means any officer assigned to the Corporate Trust
Division - Corporate Finance Unit (or any successor division or unit) of the Trustee located at the Corporate Trust Office of the Trustee, who shall have direct responsibility for the administration of this Indenture, and for the purposes of
Section 7.01(c)(2) hereof and the second sentence of Section 7.05 hereof shall also include any other officer of the Trustee to whom any corporate trust matter is referred because of such officer’s knowledge of and familiarity with
the particular subject. 
 “Restricted Definitive Note” means a Definitive Note bearing the Private Placement Legend.

 “Restricted Global Note” means a Global Note bearing the Private Placement Legend. 

“Restricted Investment” means an Investment other than a Permitted Investment. 

“Restricted Period” means the 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.

 “Rule 144” means Rule 144 promulgated under the Securities Act. 

“Rule 144A” means Rule 144A promulgated under the Securities Act. 

“Rule 903” means Rule 903 promulgated under the Securities Act. 

“Rule 904” means Rule 904 promulgated under the Securities Act. 

“Sale and Leaseback Transaction” means, with respect to any Person, any transaction involving any of the assets or properties
of such Person whether now owned or hereafter acquired, whereby such Person sells or otherwise transfers such assets or properties and then or thereafter leases such assets or 

 

 18 

 
properties or any part thereof or any other assets or properties which such Person intends to use for substantially the same purpose or purposes as the assets or properties sold or transferred.

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

“SEC” means the Securities and Exchange Commission. 

“Securities Act” means the Securities Act of 1933, as amended. 

“Shelf Registration Statement” means the Shelf Registration Statement as defined in the Registration Rights Agreement.

 “Significant Subsidiary” means any Subsidiary that would be a “significant subsidiary” as defined in
either clause (1) or clause (2) of Article 1, Rule 1-02(w) of Regulation S-X, promulgated pursuant to the Securities Act, as that Regulation is in effect on the date hereof. 

“Spot Rate” means, for any currency, the spot rate at which that currency is offered for sale against United States dollars as
determined by reference to the New York foreign exchange selling rates, as published in The Wall Street Journal on that date of determination for the immediately preceding business day or, if that rate is not available, as determined in any publicly
available source of similar market data. 
 “Stated Maturity” means, with respect to any installment of interest or
principal on any series of Indebtedness, the date on which that payment of interest or principal was scheduled to be paid in the original documentation governing that Indebtedness, and shall not include any contingent obligations to repay, redeem or
repurchase any interest or principal prior to the date originally scheduled for the payment thereof. 
 “Subordinated
Indebtedness” means: 
 (1) any Indebtedness of the Company that is by its terms subordinated in right of
payment to the Notes; and 
 (2) any Indebtedness of any Guarantor that is by its terms subordinated in right of
payment to the Note Guarantee of such Guarantor. 
 “Subsidiary” means, with respect to any 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 that Person or one or more of the other
Subsidiaries of that Person (or a combination thereof); and 
 (2) any partnership or limited liability company,

 (a) the sole general partner or the managing general partner or managing member of which is that Person or a Subsidiary of
that Person; or 
 (b) the only general partners or managing members of which are that Person or of one or more Subsidiaries of
that Person (or any combination thereof). 
  

 19 

 “TIA” means the Trust Indenture Act of 1939, as amended (15 U.S.C.
§§77aaa-77bbbb). 
 “Total Assets” means the total consolidated assets of the Company and its Restricted
Subsidiaries, as shown on the most recent balance sheet (excluding the footnotes thereto) of the Company. 
 “Trustee”
means The Bank of New York Mellon Trust Company, N.A., until a successor replaces it in accordance with the applicable provisions of this Indenture and thereafter means the successor serving hereunder. 

“Unrestricted Definitive Note” means a Definitive Note that does not bear and is not required to bear the Private Placement
Legend. 
 “Unrestricted Global Note” means a Global Note that does not bear and is not required to bear the Private
Placement Legend. 
 “Unrestricted Subsidiary” means Anvil International, LLC and any other Subsidiary that is
designated by the Board of Directors as an Unrestricted Subsidiary pursuant to a board resolution (and any Subsidiary of such Subsidiary), but only to the extent that Subsidiary: 

(1) has no Indebtedness other than Non-Recourse Debt; 

(2) is not party to any agreement, contract, arrangement or understanding with the Company or any Restricted Subsidiary of
the Company unless the terms of any such agreement, contract, arrangement or understanding are permitted by Section 4.11 hereof; 

(3) is a Person with respect to which neither the Company nor any of its Restricted Subsidiaries has any direct or
indirect obligation (other than Investments described in clause (7) of the definition of Permitted Investments), 
 (a) to
subscribe for additional Equity Interests; or 
 (b) to maintain or preserve that Person’s financial condition or to cause
that Person to achieve any specified levels, of operating results; and 
 (4) has not guaranteed or otherwise
directly or indirectly provided credit support for any Indebtedness of the Company or any of its Restricted Subsidiaries. 
 provided,
however, that the Company shall not be permitted to designate any Material Subsidiary as an Unrestricted Subsidiary while the Suspension Condition is satisfied, unless the Company could have designated such Material Subsidiary as Unrestricted
Subsidiaries in compliance with this Indenture assuming the covenants had not been suspended. 
 Any such designation by the
Board of Directors shall be evidenced to the Trustee by filing with the trustee a certified copy of the board resolution giving effect to that designation and an Officers’ Certificate certifying that designation complied with the foregoing
conditions and was permitted by Section 4.07 hereof. If, at any time, any Unrestricted Subsidiary would fail to meet the foregoing requirements as a Unrestricted Subsidiary, it shall thereafter cease to be an Unrestricted Subsidiary for
purposes of this Indenture and any Indebtedness of that Subsidiary shall be deemed to be incurred by a Restricted Subsidiary of the Company as of that date (and, if that Indebtedness is not permitted to be incurred as of that date under
Section 4.09 hereof, the Company shall be in default of Section 4.09). 
  

 20 

 The Board of Directors of the Company may at any time designate any Unrestricted Subsidiary
to be a Restricted Subsidiary; provided that the designation shall be deemed to be an incurrence of Indebtedness by a Restricted Subsidiary of the Company of any outstanding Indebtedness of that Unrestricted Subsidiary and that designation
shall only be permitted if: 
 (1) that Indebtedness is permitted under Section 4.09 hereof; 

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

(3) all Liens upon property or assets of such Unrestricted Subsidiary existing at the time of such designation would be
permitted under Section 4.12 hereof; and 
 (4) no Default or Event of Default would be in existence
following that designation. 
 “U.S. Person” means a U.S. Person as defined in Rule 902(k) promulgated under the
Securities Act. 
 “Voting Stock” of any specified 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 of such Indebtedness, 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 Restricted Subsidiary” of any Person means a Restricted Subsidiary of that Person all the outstanding Capital
Stock or other ownership interests of which (other than directors’ qualifying shares) shall at the time be owned by that Person or by one or more Wholly Owned Restricted Subsidiaries of that Person or by that Person and one or more Wholly Owned
Restricted Subsidiaries of that Person. 
 “Wholly Owned Subsidiary” of any Person means a Subsidiary of that Person
all of the outstanding Capital Stock or other ownership interests of which (other than directors’ qualifying shares) shall at the time be owned by that Person or by one or more Wholly Owned Subsidiaries of that Person. 

Section 1.02 Other Definitions. 
  

			
	 Term
	  	 Defined in

Section

	 “Affiliate Transaction”
	  	4.11
	 “Agent Member”
	  	2.06
	 “Asset Sale Offer”
	  	3.09, 4.10
	 “Authentication Order”
	  	2.02

  

 21 

			
	 “Change of Control Offer”
	  	4.15
	 “Change of Control Payment”
	  	4.15
	 “Change of Control Payment Date”
	  	4.15
	 “Covenant Defeasance”
	  	8.03
	 “DTC”
	  	2.03
	 “Event of Default”
	  	6.01
	 “Excess Proceeds”
	  	4.10
	 “incur”
	  	4.09
	 “Incurrence Date”
	  	4.09
	 “Legal Defeasance”
	  	8.02
	 “Offer Amount”
	  	3.09
	 “Offer Period”
	  	3.09
	 “Paying Agent”
	  	2.03
	 “Payment Default”
	  	6.01
	 “Permitted Indebtedness”
	  	4.09
	 “Purchase Date”
	  	3.09
	 “Registrar”
	  	2.03
	 “Restricted Payments”
	  	4.07
	 “Reversion Date”
	  	4.17
	 “Suspension Condition”
	  	4.17

 Section 1.03 Incorporation by
Reference of Trust Indenture Act. 
 The mandatory provisions of the TIA that are required to be a part of and govern
indentures qualified under the TIA are incorporated by reference in and are a part of this Indenture, whether or not this Indenture is so qualified. 

The following TIA terms used in this Indenture have the following meanings: 

“indenture securities” means the Notes; 

“indenture security Holder” means a Holder of a Note; 

“indenture to be qualified” means this Indenture; 

“indenture trustee” or “institutional trustee” means the Trustee; and 

“obligor” on the Notes and the Note Guarantees means the Company and the Guarantors, respectively, and any successor obligor
upon the Notes and the Note Guarantees, respectively. 
 All other terms used in this Indenture that are defined by the TIA,
defined by TIA reference to another statute or defined by SEC rule under the TIA have the meanings so assigned to them. 
 Section 1.04
Rules of Construction. 
 Unless the context otherwise requires: 

(1) a term has the meaning assigned to it; 
  

 22 

 (2) an accounting term not otherwise defined has the meaning assigned to it
in accordance with GAAP; 
 (3) “or” is not exclusive; 

(4) words in the singular include the plural, and in the plural include the singular; 

(5) “will” shall be interpreted to express a command; 

(6) provisions apply to successive events and transactions; 

(7) the words “herein,” “hereof,” “hereto” and “hereunder” and other words of
similar import refer to this Indenture as a whole and not to any particular Article, Section or other subdivision; 

(8) references herein to Articles, Sections, other subdivisions and Exhibits are references to Articles, Sections, other
subdivisions and Exhibits of this Indenture; and 
 (9) references to sections of or rules under the Securities
Act will be deemed to include substitute, replacement of successor sections or rules adopted by the SEC from time to time. 

ARTICLE 2 

THE NOTES 

Section 2.01 Form and Dating. 

(a) General. The Notes and the Trustee’s certificate of authentication will be substantially in the form of Exhibit A hereto.
The Notes may have notations, legends or endorsements required by law, stock exchange rule or usage. Each Note will be dated the date of its authentication. The Notes shall be in denominations of $2,000 and integral multiples of $1,000 in excess
thereof. 
 The terms and provisions contained in the Notes will constitute, and are hereby expressly made, a part of this
Indenture and the Company, the Guarantors and the Trustee, by their execution and delivery of this Indenture, expressly agree to such terms and provisions and to be bound thereby. 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. 
 (b) Global Notes.
Notes issued in global form will be substantially in the form of Exhibit A hereto (including the Global Note Legend thereon and the “Schedule of Exchanges of Interests in the Global Note” attached thereto). Notes issued in definitive
form will be substantially in the form of Exhibit A hereto (but without the Global Note Legend thereon and without the “Schedule of Exchanges of Interests in the Global Note” attached thereto). Each Global Note will represent such of
the outstanding Notes as will be specified therein and each shall provide that it represents the aggregate principal amount of outstanding Notes from time to time endorsed thereon and that the aggregate principal amount of outstanding Notes
represented thereby may from time to time be reduced or increased, as appropriate, to reflect exchanges and redemptions. Any endorsement of a Global Note to reflect the amount of any increase or decrease in the aggregate principal amount of
outstanding Notes represented thereby will be made by the Trustee or the Custodian, at the direction of the Trustee, in accordance with instructions given by the Holder thereof as required by Section 2.06 hereof. 

 

 23 

 (c) Regulation S Global Note. Notes offered and sold in reliance on Regulation S
will be issued in the form of the Regulation S Global Note, which will be deposited on behalf of the purchasers of the Notes represented thereby with the Trustee, at its New York office, as custodian for the Depositary, and registered in the
name of the Depositary or the nominee of the Depositary for the accounts of designated agents holding on behalf of Euroclear or Clearstream, duly executed by the Company and authenticated by the Trustee as hereinafter provided. 

(d) Euroclear and Clearstream Procedures Applicable. The provisions of the “Operating Procedures of the Euroclear System” and
“Terms and Conditions Governing Use of Euroclear” and the “General Terms and Conditions of Clearstream Banking” and “Customer Handbook” of Clearstream will be applicable to transfers of beneficial interests in the
Regulation S Global Note that are held by Participants through Euroclear or Clearstream. 
 Section 2.02 Execution and
Authentication. 
 At least one Officer must sign the Notes for the Company by manual or facsimile signature. 

If an Officer whose signature is on a Note no longer holds that office at the time a Note is authenticated, the Note will nevertheless be
valid. 
 A Note will not be valid until authenticated by the manual signature of the Trustee. The signature will be conclusive
evidence that the Note has been authenticated under this Indenture. 
 The Trustee will, upon receipt of a written order of the
Company signed by two Officers (an “Authentication Order”), authenticate Notes for (i) original issue, up to the aggregate principal amount stated in paragraph 4 of the back of the Notes and (ii) Additional Notes in such
amounts as may be specified from time to time without limit, subject to Article 4 hereof. Additional Notes shall have the same terms as the Notes, or the same terms except for the payment of interest on the Notes (1) scheduled and paid
prior to the date of issuance of such Additional Notes and (2) payable on the first Interest Payment Date following the date of issuance. The Notes and any Additional Notes will be treated as a single class for all purposes under this
Indenture. In addition, the Trustee shall authenticate upon receipt of an Authentication Order other Notes issued in exchange therefor from time to time. The aggregate principal amount of Notes outstanding at any time may not exceed the aggregate
principal amount of Notes authorized for issuance by the Company pursuant to one or more Authentication Orders, except as provided in Section 2.07 hereof. 

The Trustee may appoint an authenticating agent acceptable to the Company to authenticate Notes. An authenticating agent may authenticate
Notes whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by such agent. An authenticating agent has the same rights as an Agent to deal with Holders or an Affiliate of the
Company. 
 Section 2.03 Registrar and Paying Agent. 

The Company will maintain an office or agency where Notes may be presented for registration of transfer or for exchange
(“Registrar”) and an office or agency where Notes may be presented for payment (“Paying Agent”). The Registrar will keep a register of the Notes and of their transfer and exchange. The Company may appoint one or more
co-registrars and one or more additional paying agents. The term “Registrar” includes any co-registrar and the term “Paying Agent” includes any additional paying agent. The Company may change any Paying Agent or Registrar without
notice to any Holder. The Company will notify the Trustee in writing of the name and address of any Agent not a party to this Indenture. If 

 

 24 

 
the Company fails to appoint or maintain another entity as Registrar or Paying Agent, the Trustee shall act as such. The Company or any of its Subsidiaries may act as Paying Agent or Registrar.

 The Company initially appoints The Depository Trust Company (“DTC”) to act as Depositary with respect to the Global
Notes. 
 The Company initially appoints the Trustee to act as the Registrar and Paying Agent and to act as Custodian with
respect to the Global Notes. 
 Section 2.04 Paying Agent to Hold Money in Trust. 

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 Holders or the Trustee all money held by the Paying Agent for the payment of principal, premium or Additional Interest, if any, or interest on the Notes, and will notify the Trustee of any default by the Company in making any such
payment. While any such default continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee. The Company at any time may require a Paying Agent to pay all money held by it to the Trustee. Upon payment over to the
Trustee, the Paying Agent (if other than the Company or a Subsidiary) will have no further liability for the money. If the Company or a Subsidiary acts as Paying Agent, it will segregate and hold in a separate trust fund for the benefit of the
Holders all money held by it as Paying Agent. Upon any bankruptcy or reorganization proceedings relating to the Company, the Trustee will serve as Paying Agent for the Notes. 

Section 2.05 Holder Lists. 

The Trustee will preserve in as current a form as is reasonably practicable the most recent list available to it of the names and
addresses of all Holders and shall otherwise comply with TIA §312(a). If the Trustee is not the Registrar, the Company will furnish to the Trustee at least seven Business Days before each interest payment date and at such other times as the
Trustee may request in writing, a list in such form and as of such date as the Trustee may reasonably require of the names and addresses of the Holders and the Company shall otherwise comply with TIA §312(a). 

Section 2.06 Transfer and Exchange. 

(a) Transfer and Exchange of Global Notes. A Global Note may not be transferred except in whole by the Depositary to a nominee of the
Depositary, by a nominee of the Depositary to the Depositary or to another nominee of the Depositary, or by the Depositary or any such nominee to a successor Depositary or a nominee of such successor Depositary. All Global Notes shall be exchanged
by the Company for Definitive Notes if: 
 (1) the Depositary (A) notifies the Company that it is unwilling
or unable to continue as Depositary for the Global Notes or (B) has ceased to be a clearing agency registered under the Exchange Act and, in either case, a successor Depositary is not appointed by the Company within 120 days after the date
of such notice from the Depositary; 
 (2) the Company in its sole discretion determines that the Global Notes
(in whole but not in part) should be exchanged for Definitive Notes and delivers a written notice to such effect to the Trustee; or 

(3) there has occurred and is continuing a Default or Event of Default with respect to the Notes. 

 

 25 

 Upon the occurrence of any of the preceding events in (1), (2) or (3) above,
Definitive Notes shall be issued in such names as the Depositary shall instruct the Trustee. Global Notes also may be exchanged or replaced, in whole or in part, as provided in Sections 2.07 and 2.10 hereof. Every Note authenticated and
delivered in exchange for, or in lieu of, a Global Note or any portion thereof, pursuant to this Section 2.06 or Section 2.07 or 2.10 hereof, shall be authenticated and delivered in the form of, and shall be, a Global Note. A Global Note
may not be exchanged for another Note other than as provided in this Section 2.06(a), however, beneficial interests in a Global Note may be transferred and exchanged as provided in Section 2.06(b), (c) or (f) hereof upon prior
written notice given to the Trustee by or on behalf of the Depositary. 
 (b) Transfer and Exchange of Beneficial Interests in
the Global Notes. The transfer and exchange of beneficial interests in the Global Notes will be effected through the Depositary, in accordance with the provisions of this Indenture and the Applicable Procedures. Beneficial interests in the
Restricted Global Notes will be subject to restrictions on transfer comparable to those set forth herein to the extent required by the Securities Act. Transfers of beneficial interests in the Global Notes also will require compliance with either
subparagraph (1) or (2) below, as applicable, as well as one or more of the other following subparagraphs, as applicable: 

(1) Transfer of Beneficial Interests in the Same Global Note. Beneficial interests in any Restricted Global Note may be
transferred to Persons who take delivery thereof in the form of a beneficial interest in the same Restricted Global Note in accordance with the transfer restrictions set forth in the Private Placement Legend. Beneficial interests in any Unrestricted
Global Note may be transferred to Persons who take delivery thereof in the form of a beneficial interest in an Unrestricted Global Note. No written orders or instructions shall be required to be delivered to the Registrar to effect the transfers
described in this Section 2.06(b)(1). 
 (2) All Other Transfers and Exchanges of Beneficial Interests in
Global Notes. In connection with all transfers and exchanges of beneficial interests that are not subject to Section 2.06(b)(1), the transferor of such beneficial interest must deliver to the Registrar either: 

(A) both: 

(i) a written order from a Participant or an Indirect Participant given to the Depositary in accordance with the
Applicable Procedures directing the Depositary to credit or cause to be credited a beneficial interest in another Global Note in an amount equal to the beneficial interest to be transferred or exchanged; and 

(ii) instructions given in accordance with the Applicable Procedures containing information regarding the Participant
account to be credited with such increase; or 
 (B) both: 

(i) a written order from a Participant or an Indirect Participant given to the Depositary in accordance with the
Applicable Procedures directing the Depositary to cause to be issued a Definitive Note in an amount equal to the beneficial interest to be transferred or exchanged; and 
  

 26 

 (ii) instructions given by the Depositary to the Registrar containing
information regarding the Person in whose name such Definitive Note shall be registered to effect the transfer or exchange referred to in (1) above. 

Upon consummation of an Exchange Offer by the Company in accordance with Section 2.06(f) hereof, the requirements of this Section 2.06(b)(2)
shall be deemed to have been satisfied upon receipt by the Registrar of the instructions contained in the Letter of Transmittal delivered by the holder of such beneficial interests in the Restricted Global Notes. Upon satisfaction of all of the
requirements for transfer or exchange of beneficial interests in Global Notes contained in this Indenture and the Notes or otherwise applicable under the Securities Act, the Trustee shall adjust the principal amount of the relevant Global Note(s)
pursuant to Section 2.06(h) hereof. 
 (3) Transfer of Beneficial Interests to Another Restricted Global
Note. A beneficial interest in any Restricted Global Note may be transferred to a Person who takes delivery thereof in the form of a beneficial interest in another Restricted Global Note if the transfer complies with the requirements of
Section 2.06(b)(2) above and the Registrar receives the following: 
 (A) if the transferee will take
delivery in the form of a beneficial interest in the 144A Global Note, then the transferor must deliver a certificate in the form of Exhibit B hereto, including the certifications in item (1) thereof; and 

(B) if the transferee will take delivery in the form of a beneficial interest in the Regulation S Global Note, then
the transferor must deliver a certificate in the form of Exhibit B hereto, including the certifications in item (2) thereof. 

(4) Transfer and Exchange of Beneficial Interests in a Restricted Global Note for Beneficial Interests in an Unrestricted
Global Note. A beneficial interest in any Restricted Global Note may be exchanged by any holder thereof for a beneficial interest in an Unrestricted Global Note or transferred to a Person who takes delivery thereof in the form of a beneficial
interest in an Unrestricted Global Note if the exchange or transfer complies with the requirements of Section 2.06(b)(2)and: 

(A) such exchange or transfer is effected pursuant to the Exchange Offer in accordance with the Registration Rights
Agreement and the holder of the beneficial interest to be transferred, in the case of an exchange, or the transferee, in the case of a transfer, certifies in the applicable Letter of Transmittal that it is not (i) a Broker-Dealer acquiring
Notes directly from the Company, (ii) a Person participating in the distribution of the Exchange Notes or (iii) a Person who is an affiliate (as defined in Rule 144) of the Company; 

(B) such transfer is effected pursuant to the Shelf Registration Statement in accordance with the Registration Rights
Agreement; or 
 (C) the Registrar receives the following: 

(i) if the holder of such beneficial interest in a Restricted Global Note proposes to exchange such beneficial interest
for a beneficial interest in an Unrestricted Global Note, a certificate from such holder in the form of Exhibit C hereto, including the certifications in item (1)(a) thereof; or 

 

 27 

 (ii) if the holder of such beneficial interest in a Restricted Global Note
proposes to transfer such beneficial interest to a Person who shall take delivery thereof in the form of a beneficial interest in an Unrestricted Global Note, a certificate from such holder in the form of Exhibit B hereto, including the
certifications in item (4) thereof; 
 and, in each such case set forth in this subparagraph (C), if the Registrar so
requests or if the Applicable Procedures so require, an Opinion of Counsel in form reasonably acceptable to the Registrar to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer
contained herein and in the Private Placement Legend are no longer required in order to maintain compliance with the Securities Act. 

If any such transfer is effected pursuant to subparagraph (B) or (C) above at a time when an Unrestricted Global Note has not
yet been issued, the Company shall issue and, upon receipt of an Authentication Order in accordance with Section 2.02 hereof, the Trustee shall authenticate one or more Unrestricted Global Notes in an aggregate principal amount equal to the
aggregate principal amount of beneficial interests transferred pursuant to subparagraph (B) or (C) above. 

Beneficial interests in an Unrestricted Global Note cannot be exchanged for, or transferred to Persons who take delivery thereof in the
form of, a beneficial interest in a Restricted Global Note. 
 (c) Transfer or Exchange of Beneficial Interests for Definitive
Notes. 
 (1) Beneficial Interests in Restricted Global Notes to Restricted Definitive Notes. If any holder of a
beneficial interest in a Restricted Global Note proposes to exchange such beneficial interest for a Restricted Definitive Note or to transfer such beneficial interest to a Person who takes delivery thereof in the form of a Restricted Definitive
Note, then, upon receipt by the Registrar of the following documentation: 
 (A) if the holder of such beneficial
interest in a Restricted Global Note proposes to exchange such beneficial interest for a Restricted Definitive Note, a certificate from such holder in the form of Exhibit C hereto, including the certifications in item (2)(a) thereof;

 (B) if such beneficial interest is being transferred to a QIB in accordance with Rule 144A, a certificate
to the effect set forth in Exhibit B hereto, including the certifications in item (1) thereof; 
 (C)
if such beneficial interest is being transferred to a Non-U.S. Person in an offshore transaction in accordance with Rule 903 or Rule 904, a certificate to the effect set forth in Exhibit B hereto, including the certifications in
item (2) thereof; 
 (D) if such beneficial interest is being transferred pursuant to an exemption from the
registration requirements of the Securities Act in accordance with Rule 144, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3)(a) thereof; or 

(E) if such beneficial interest is being transferred to the Company or any of its Subsidiaries, a certificate to the
effect set forth in Exhibit B hereto, including the certifications in item (3)(b) thereof, 
  

 28 

 the Trustee shall cause the aggregate principal amount of the applicable Global Note to be
reduced accordingly pursuant to Section 2.06(h) hereof, and the Company shall execute and the Trustee shall authenticate and deliver to the Person designated in the instructions a Definitive Note in the appropriate principal amount. Any
Definitive Note issued in exchange for a beneficial interest in a Restricted Global Note pursuant to this Section 2.06(c) shall be registered in such name or names and in such authorized denomination or denominations as the holder of such
beneficial interest shall instruct the Registrar through instructions from the Depositary and the Participant or Indirect Participant. The Trustee shall deliver such Definitive Notes to the Persons in whose names such Notes are so registered. Any
Definitive Note issued in exchange for a beneficial interest in a Restricted Global Note pursuant to this Section 2.06(c)(1) shall bear the Private Placement Legend and shall be subject to all restrictions on transfer contained therein.

 (2) [Reserved.] 

(3) Beneficial Interests in Restricted Global Notes to Unrestricted Definitive Notes. A holder of a beneficial interest in
a Restricted Global Note may exchange such beneficial interest for an Unrestricted Definitive Note or may transfer such beneficial interest to a Person who takes delivery thereof in the form of an Unrestricted Definitive Note only if: 

(A) such exchange or transfer is effected pursuant to the Exchange Offer in accordance with the Registration Rights
Agreement and the holder of such beneficial interest, in the case of an exchange, or the transferee, in the case of a transfer, certifies in the applicable Letter of Transmittal that it is not (i) a Broker-Dealer acquiring Notes directly from
the Company, (ii) a Person participating in the distribution of the Exchange Notes or (iii) a Person who is an affiliate (as defined in Rule 144) of the Company; 

(B) such transfer is effected pursuant to the Shelf Registration Statement in accordance with the Registration Rights
Agreement; or 
 (C) the Registrar receives the following: 

(i) if the holder of such beneficial interest in a Restricted Global Note proposes to exchange such beneficial interest
for an Unrestricted Definitive Note, a certificate from such holder in the form of Exhibit C hereto, including the certifications in item (1)(b) thereof; or 

(ii) if the holder of such beneficial interest in a Restricted Global Note proposes to transfer such beneficial interest
to a Person who shall take delivery thereof in the form of an Unrestricted Definitive Note, a certificate from such holder in the form of Exhibit B hereto, including the certifications in item (4) thereof; 

and, in each such case set forth in this subparagraph (C), if the Registrar so requests or if the Applicable Procedures so require,
an Opinion of Counsel in form reasonably acceptable to the Registrar to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Private Placement Legend are
no longer required in order to maintain compliance with the Securities Act. 
 (4) Beneficial Interests in
Unrestricted Global Notes to Unrestricted Definitive Notes. If any holder of a beneficial interest in an Unrestricted Global Note proposes to exchange such beneficial interest for a Definitive Note or to transfer such beneficial interest to a Person
who 
  

 29 

 
takes delivery thereof in the form of a Definitive Note, then, upon satisfaction of the conditions set forth in Section 2.06(b)(2) hereof, the Trustee will cause the aggregate principal
amount of the applicable Global Note to be reduced accordingly pursuant to Section 2.06(h) hereof, and the Company will execute and the Trustee will authenticate and deliver to the Person designated in the instructions a Definitive Note in the
appropriate principal amount. Any Definitive Note issued in exchange for a beneficial interest pursuant to this Section 2.06(c)(4) will be registered in such name or names and in such authorized denomination or denominations as the holder of
such beneficial interest requests through instructions to the Registrar from or through the Depositary and the Participant or Indirect Participant. The Trustee will deliver such Definitive Notes to the Persons in whose names such Notes are so
registered. Any Definitive Note issued in exchange for a beneficial interest pursuant to this Section 2.06(c)(4) will not bear the Private Placement Legend. 

(d) Transfer and Exchange of Definitive Notes for Beneficial Interests. 

(1) Restricted Definitive Notes to Beneficial Interests in Restricted Global Notes. If any holder of a Restricted
Definitive Note proposes to exchange such Note for a beneficial interest in a Restricted Global Note or to transfer such Restricted Definitive Notes to a Person who takes delivery thereof in the form of a beneficial interest in a Restricted Global
Note, then, upon receipt by the Registrar of the following documentation: 
 (A) if the holder of such Restricted
Definitive Note proposes to exchange such Note for a beneficial interest in a Restricted Global Note, a certificate from such holder in the form of Exhibit C hereto, including the certifications in item (2)(b) thereof; 

(B) if such Restricted Definitive Note is being transferred to a QIB in accordance with Rule 144A, a certificate to
the effect set forth in Exhibit B hereto, including the certifications in item (1) thereof; 
 (C) if
such Restricted Definitive Note is being transferred to a Non-U.S. Person in an offshore transaction in accordance with Rule 903 or Rule 904, a certificate to the effect set forth in Exhibit B hereto, including the certifications in
item (2) thereof; or 
 (D) if such Restricted Definitive Note is being transferred pursuant to an exemption
from the registration requirements of the Securities Act in accordance with Rule 144, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3)(a) thereof; 

the Trustee will cancel the Restricted Definitive Note, increase or cause to be increased the aggregate principal amount of, in the case
of clause (A) above, the appropriate Restricted Global Note, in the case of clause (B) above, the 144A Global Note, and in the case of clause (C) above, the Regulation S Global Note. 

(2) Restricted Definitive Notes to Beneficial Interests in Unrestricted Global Notes. A holder of a Restricted Definitive
Note may exchange such Note for a beneficial interest in an Unrestricted Global Note or transfer such Restricted Definitive Note to a Person who takes delivery thereof in the form of a beneficial interest in an Unrestricted Global Note only if:

 (A) such exchange or transfer is effected pursuant to the Exchange Offer in accordance with the Registration
Rights Agreement and the Holder, in the case of an 
  

 30 

 
exchange, or the transferee, in the case of a transfer, certifies in the applicable Letter of Transmittal that it is not (i) a Broker-Dealer acquiring Notes directly from the Company,
(ii) a Person participating in the distribution of the Exchange Notes or (iii) a Person who is an affiliate (as defined in Rule 144) of the Company; 

(B) such transfer is effected pursuant to the Shelf Registration Statement in accordance with the Registration Rights
Agreement; or 
 (C) the Registrar receives the following: 

(i) if the holder of such Definitive Notes proposes to exchange such Notes for a beneficial interest in the Unrestricted
Global Note, a certificate from such holder in the form of Exhibit C hereto, including the certifications in item (1)(c) thereof; or 

(ii) if the holder of such Definitive Notes proposes to transfer such Notes to a Person who shall take delivery thereof in
the form of a beneficial interest in the Unrestricted Global Note, a certificate from such holder in the form of Exhibit B hereto, including the certifications in item (4) thereof; 

and, in each such case set forth in this subparagraph (C), if the Registrar so requests or if the Applicable Procedures so require,
an Opinion of Counsel in form reasonably acceptable to the Registrar to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Private Placement Legend are
no longer required in order to maintain compliance with the Securities Act. 
 Upon satisfaction of the
conditions of any of the subparagraphs in this Section 2.06(C)(2), the Trustee will cancel the Definitive Notes and increase or cause to be increased the aggregate principal amount of the Unrestricted Global Note. 

(3) Unrestricted Definitive Notes to Beneficial Interests in Unrestricted Global Notes. A holder of an Unrestricted
Definitive Note may exchange such Note for a beneficial interest in an Unrestricted Global Note or transfer such Definitive Notes to a Person who takes delivery thereof in the form of a beneficial interest in an Unrestricted Global Note at any time.
Upon receipt of a request for such an exchange or transfer, the Trustee will cancel the applicable Unrestricted Definitive Note and increase or cause to be increased the aggregate principal amount of one of the Unrestricted Global Notes. 

If any such exchange or transfer from a Definitive Note to a beneficial interest is effected pursuant to
subparagraphs (2)(B), (2)(C) or (3) above at a time when an Unrestricted Global Note has not yet been issued, the Company will issue and, upon receipt of an Authentication Order in accordance with Section 2.02 hereof, the Trustee
will authenticate one or more Unrestricted Global Notes in an aggregate principal amount equal to the principal amount of Definitive Notes so transferred. 

(e) Transfer and Exchange of Definitive Notes for Definitive Notes. Upon request by a holder of Definitive Notes and such holder’s
compliance with the provisions of this Section 2.06(e), the Registrar will register the transfer or exchange of Definitive Notes. Prior to such registration of transfer or exchange, the requesting holder must present or surrender to the
Registrar the Definitive Notes duly endorsed or accompanied by a written instruction of transfer in form satisfactory to the Registrar duly executed by such holder or by its attorney, duly authorized in writing. In addition, the requesting holder

  

 31 

 
must provide any additional certifications, documents and information, as applicable, required pursuant to the following provisions of this Section 2.06(e). 

(1) Restricted Definitive Notes to Restricted Definitive Notes. Any Restricted Definitive Note may be transferred to and
registered in the name of Persons who take delivery thereof in the form of a Restricted Definitive Note if the Registrar receives the following: 

(A) if the transfer will be made pursuant to Rule 144A, then the transferor must deliver a certificate in the form of
Exhibit B hereto, including the certifications in item (1) thereof; 
 (B) if the transfer will be made
pursuant to Rule 903 or Rule 904, then the transferor must deliver a certificate in the form of Exhibit B hereto, including the certifications in item (2) thereof; and 

(C) if the transfer will be made pursuant to any other exemption from the registration requirements of the Securities Act,
then the transferor must deliver a certificate in the form of Exhibit B hereto, including the certifications, certificates and Opinion of Counsel required by item (3) thereof, if applicable. 

(2) Restricted Definitive Notes to Unrestricted Definitive Notes. Any Restricted Definitive Note may be exchanged by the
holder thereof for an Unrestricted Definitive Note or transferred to a Person or Persons who take delivery thereof in the form of an Unrestricted Definitive Note if: 

(A) such exchange or transfer is effected pursuant to the Exchange Offer in accordance with the Registration Rights
Agreement and the Holder, in the case of an exchange, or the transferee, in the case of a transfer, certifies in the applicable Letter of Transmittal that it is not (i) a Broker-Dealer acquiring Notes directly from the Company, (ii) a
Person participating in the distribution of the Exchange Notes or (iii) a Person who is an affiliate (as defined in Rule 144) of the Company; 

(B) any such transfer is effected pursuant to the Shelf Registration Statement in accordance with the Registration Rights
Agreement; or 
 (C) the Registrar receives the following: 

(i) if the holder of such Restricted Definitive Notes proposes to exchange such Notes for an Unrestricted Definitive
Note, a certificate from such holder in the form of Exhibit C hereto, including the certifications in item (1)(d) thereof; or 

(ii) if the holder of such Restricted Definitive Notes proposes to transfer such Notes to a Person who shall take
delivery thereof in the form of an Unrestricted Definitive Note, a certificate from such holder in the form of Exhibit B hereto, including the certifications in item (4) thereof; 

and, in each such case set forth in this subparagraph (C), if the Registrar so requests, an Opinion of Counsel in form reasonably
acceptable to the Registrar to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on 

 

 32 

 
transfer contained herein and in the Private Placement Legend are no longer required in order to maintain compliance with the Securities Act. 

(3) Unrestricted Definitive Notes to Unrestricted Definitive Notes. A holder of Unrestricted Definitive Notes may transfer
such Notes to a Person who takes delivery thereof in the form of an Unrestricted Definitive Note. Upon receipt of a request to register such a transfer, the Registrar shall register the Unrestricted Definitive Notes pursuant to the instructions from
the holder thereof. 
 (f) Exchange Offer. Upon the occurrence of the Exchange Offer in accordance with the Registration Rights
Agreement, the Company will issue and, upon receipt of an Authentication Order in accordance with Section 2.02 hereof, the Trustee will authenticate: 

(1) one or more Unrestricted Global Notes in an aggregate principal amount equal to the principal amount of the beneficial
interests in the Restricted Global Notes accepted for exchange in the Exchange Offer by Persons that certify in the applicable Letters of Transmittal that (A) they are not Broker-Dealers acquiring Notes directly from the Company, (B) they
are not participating in a distribution of the Exchange Notes and (C) they are not affiliates (as defined in Rule 144) of the Company; and 

(2) Unrestricted Definitive Notes in an aggregate principal amount equal to the principal amount of the Restricted
Definitive Notes accepted for exchange in the Exchange Offer by Persons that certify in the applicable Letters of Transmittal that (A) they are not Broker-Dealers acquiring Notes directly from the Company, (B) they are not participating in
a distribution of the Exchange Notes and (C) they are not affiliates (as defined in Rule 144) of the Company. 

Concurrently with the issuance of such Notes, the Trustee will cause the aggregate principal amount of the applicable Restricted Global
Notes to be reduced accordingly, and the Company will execute and the Trustee will authenticate and deliver to the Persons designated by the holders of Definitive Notes so accepted Unrestricted Definitive Notes in the appropriate principal amount.

 The Company may issue, and upon receipt of an authentication order the Trustee will authenticate, Exchange Notes with respect
to the Notes to be sold using a Shelf Registration Statement. 
 (g) Legends. The following legends will appear on the face of
all Global Notes and Definitive Notes issued under this Indenture unless specifically stated otherwise in the applicable provisions of this Indenture. 

(1) Private Placement Legend. 

(A) Except as permitted by subparagraph (B) below, each Global Note and each Definitive Note (and all Notes issued in
exchange therefor or substitution thereof) shall bear the legend in substantially the following form 
 “ THIS NOTE AND THE RELATED
GUARANTEES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE SECURITIES LAWS. NEITHER THIS NOTE NOR THE RELATED GUARANTEES NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE OFFERED,
SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. THE HOLDER

  

 33 

 
OF THIS NOTE AND THE RELATED GUARANTEES BY ITS ACCEPTANCE HEREOF AGREES TO OFFER, SELL OR OTHERWISE TRANSFER SUCH NOTE, PRIOR TO THE DATE WHICH IS ONE YEAR AFTER THE LATER OF THE ORIGINAL ISSUE
DATE HEREOF AND THE LAST DATE ON WHICH THE ISSUER OR ANY AFFILIATE OF THE ISSUER WAS THE OWNER OF THIS NOTE AND THE RELATED GUARANTEES (OR ANY PREDECESSOR OF THIS NOTE AND THE RELATED GUARANTEES) (THE “RESALE RESTRICTION TERMINATION DATE”)
ONLY (A) TO THE ISSUER OR ANY SUBSIDIARY THEREOF, (B) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT, (C) FOR SO LONG AS THE NOTES ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT
(“RULE 144A”), TO A PERSON IT REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” DEFINED IN RULE 144A THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE
TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (D) PURSUANT TO OFFERS AND SALES TO NON-U.S. PERSONS THAT OCCUR OUTSIDE THE UNITED STATES WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT OR (E) PURSUANT TO ANOTHER AVAILABLE
EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO THE ISSUER’S AND THE TRUSTEE’S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER (i) PURSUANT TO CLAUSE (D) PRIOR TO THE END OF THE DISTRIBUTION
COMPLIANCE PERIOD WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT OR PURSUANT TO CLAUSE (E) PRIOR TO THE RESALE RESTRICTION TERMINATION DATE TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER INFORMATION
SATISFACTORY TO EACH OF THEM, AND (ii) IN EACH OF THE FOREGOING CASES, TO REQUIRE THAT A CERTIFICATE OF TRANSFER IN THE FORM APPEARING ON THIS NOTE IS COMPLETED AND DELIVERED BY THE TRANSFEROR TO THE TRUSTEE. THIS LEGEND WILL BE REMOVED UPON
THE REQUEST OF A HOLDER ONLY AT THE DIRECTION AND IN THE ABSOLUTE DISCRETION OF THE ISSUER AFTER THE DISTRIBUTION COMPLIANCE PERIOD OR RESALE RESTRICTION TERMINATION DATE, AS APPLICABLE. “ 

(B) Notwithstanding the foregoing, any Global Note or Definitive Note issued pursuant to subparagraphs (b)(4),
(c)(3), (c)(4), (d)(2), (d)(3), (e)(2), (e)(3) or (f) of this Section 2.06 (and all Notes issued in exchange therefor or substitution thereof), any Regulation S Global Note issued after the Restricted Period and any Additional Notes
issued in transactions registered with the SEC will not bear the Private Placement Legend. 
 (2) Global Note
Legend. Each Global Note will bear a legend in substantially the following form: 
 “THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED
IN THE INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (1) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE
REQUIRED PURSUANT TO SECTION 2.06 OF THE INDENTURE, (2) THIS GLOBAL NOTE MAY BE EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.06(a) OF THE INDENTURE, (3) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR
CANCELLATION PURSUANT TO SECTION 2.11 OF THE INDENTURE AND (4) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE ISSUER. 

 

 34 

 UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN DEFINITIVE FORM, THIS NOTE MAY NOT BE
TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE
OF SUCH SUCCESSOR DEPOSITARY. UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) (“DTC”), TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER,
EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR SUCH OTHER ENTITY AS
MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.”

 (h) Cancellation and/or Adjustment of Global Notes. At such time as all beneficial interests in a particular Global Note have
been exchanged for Definitive Notes or a particular Global Note has been redeemed, repurchased or canceled in whole and not in part, each such Global Note will be returned to or retained and canceled by the Trustee in accordance with
Section 2.11 hereof. At any time prior to such cancellation, if any beneficial interest in a Global Note is exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global Note or
for Definitive Notes, the principal amount of Notes represented by such Global Note will be reduced accordingly and an endorsement will be made on such Global Note by the Trustee or by the Depositary at the direction of the Trustee to reflect such
reduction; and if the beneficial interest is being exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global Note, such other Global Note will be increased accordingly and an
endorsement will be made on such Global Note by the Trustee or by the Depositary at the direction of the Trustee to reflect such increase. 

(i) General Provisions Relating to Transfers and Exchanges. 

(1) To permit registrations of transfers and exchanges, the Company will execute and the Trustee will authenticate Global
Notes and Definitive Notes upon receipt of an Authentication Order in accordance with Section 2.02 hereof or at the Registrar’s request. 

(2) No service charge will be made to a holder of a beneficial interest in a Global Note or to a holder of a Definitive
Note for any registration of transfer or exchange, 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 any such transfer taxes or similar
governmental charge payable upon exchange or transfer pursuant to Sections 2.10, 3.06, 3.09, 4.10, 4.15 and 9.05 hereof). 

(3) The Registrar will not be required to register the transfer of or exchange of any Note selected for redemption in
whole or in part, except the unredeemed portion of any Note being redeemed in part. 
 (4) All Global Notes and
Definitive Notes issued upon any registration of transfer or exchange of Global Notes or Definitive Notes will be the valid obligations of the Company, evidencing the same debt, and entitled to the same benefits under this Indenture, as the Global
Notes or Definitive Notes surrendered upon such registration of transfer or exchange. 
  

 35 

 (5) Neither the Registrar nor the Company will be required: 

(A) to issue, to register the transfer of or to exchange any Notes during a period beginning at the opening of business
15 days before the day of any selection of Notes for redemption under Section 3.02 hereof and ending at the close of business on the day of selection; 

(B) to register the transfer of or to exchange any Note selected for redemption in whole or in part, except the unredeemed
portion of any Note being redeemed in part; or 
 (C) to register the transfer of or to exchange a Note between a
record date and the next succeeding interest payment date. 
 (6) Prior to due presentment for the registration
of a transfer of any Note, the Trustee, any Agent and the Company may deem and treat the Person in whose name any Note is registered as the absolute owner of such Note for the purpose of receiving payment of principal of and interest on such Notes
and for all other purposes, and none of the Trustee, any Agent or the Company shall be affected by notice to the contrary. None of the Trustee, the Paying Agent or the Registrar shall have any responsibility or obligation to any beneficial owner in
a Global Note, any member of or participant in the Depositary (an “Agent Member”) or other Person with respect to the accuracy of the records of the Depositary or its nominee or of any Agent Member, with respect to any ownership interest
in the Notes or with respect to the delivery to any Agent Member, beneficial owner or other Person (other than the Depositary) of any notice (including any notice of redemption) or the payment of any amount, under or with respect to such Notes. All
notices and communications to be given to the Holders and all payments to be made to Holders under the Notes and this Indenture shall be given or made only to or upon the order of the registered holders (which shall be the Depositary or its nominee
in the case of the Global Note). The rights of beneficial owners in the Global Note shall be exercised only through the Depositary subject to the applicable procedures. The Trustee, the Paying Agent and the Registrar shall be entitled to rely and
shall be fully protected in relying upon information furnished by the Depositary with respect to its members, participants and any beneficial owners. The Trustee, the Paying Agent and the Registrar shall be entitled to deal with the Depositary, and
any nominee thereof, that is the registered holder of any Global Note for all purposes of this Indenture relating to such Global Note (including the payment of principal, premium, if any, and interest and additional amounts, if any, and the giving
of instructions or directions by or to the owner or holder of a beneficial ownership interest in such Global Note) as the sole holder of such Global Note and shall have no obligations to the beneficial owners thereof. None of the Trustee, the Paying
Agent or the Registrar shall have any responsibility or liability for any acts or omissions of the Depositary with respect to such Global Note, for the records of any such depositary, including records in respect of beneficial ownership interests in
respect of any such Global Note, for any transactions between the Depositary and any Agent Member or between or among the Depositary, any such Agent Member and/or any holder or owner of a beneficial interest in such Global Note, or for any transfers
of beneficial interests in any such Global Note. 
 (7) The Trustee will authenticate Global Notes and Definitive
Notes in accordance with the provisions of Section 2.02 hereof. 
 (8) All certifications, certificates and
Opinions of Counsel required to be submitted to the Registrar pursuant to this Section 2.06 to effect a registration of transfer or exchange may be submitted by facsimile. 

 

 36 

 (j) None of the Trustee, the Paying Agent or the Registrar shall have any obligation or duty
to monitor, determine or inquire as to compliance with any restrictions on transfer imposed under this Indenture or under applicable law with respect to any transfer of any interest in any Note (including any transfers between or among DTC
participants, members or beneficial owners in any Global Note) other than to require delivery of such certificates and other documentation or evidence as are expressly required by, and to do so if and when expressly required by, the terms of this
Indenture, and to examine the same to determine substantial compliance as to form with the express requirements hereof. 
 Section 2.07
Replacement Notes. 
 If any mutilated Note is surrendered to the Trustee or the Company and the Trustee receives evidence to
its satisfaction of the destruction, loss or theft of any Note, the Company will issue and the Trustee, upon receipt of an Authentication Order, will authenticate a replacement Note if the Trustee’s requirements are met. If required by the
Trustee or the Company, an indemnity bond must be supplied by the Holder that is sufficient in the judgment of the Trustee and the Company to protect the Company, the Trustee, any Agent and any authenticating agent from any loss that any of them may
suffer if a Note is replaced. The Company may charge for its expenses in replacing a Note. 
 Every replacement Note is an
additional obligation of the Company and will be entitled to all of the benefits of this Indenture equally and proportionately with all other Notes duly issued hereunder. 

Section 2.08 Outstanding Notes. 

The Notes outstanding at any time are all the Notes authenticated by the Trustee except for those canceled by it, those delivered to it
for cancellation, those reductions in the interest in a Global Note effected by the Trustee in accordance with the provisions hereof, and those described in this Section 2.08 as not outstanding. Except as set forth in Section 2.09 hereof,
a Note does not cease to be outstanding because the Company or an Affiliate of the Company holds the Note; however, Notes held by the Company or a Subsidiary of the Company shall not be deemed to be outstanding for purposes of Section 3.07(a)
hereof. 
 If a Note is replaced pursuant to Section 2.07 hereof, it ceases to be outstanding unless the Trustee receives
proof satisfactory to it that the replaced Note is held by a protected purchaser. 
 If the principal amount of any Note is
considered paid under Section 4.01 hereof, it ceases to be outstanding and interest on it ceases to accrue. 
 If the
Paying Agent (other than the Company, a Subsidiary or an Affiliate of any thereof) holds, on a redemption date or maturity date, money sufficient to pay Notes payable on that date, then on and after that date such Notes will be deemed to be no
longer outstanding and will cease to accrue interest. 
 Section 2.09 Treasury Notes. 

In determining whether the Holders of the required principal amount of Notes have concurred in any direction, waiver or consent, Notes
owned by the Company or any Guarantor, or by any Person directly or indirectly controlling or controlled by or under direct or indirect common control with the Company or any Guarantor, will be considered as though not outstanding, except that for
the purposes of determining whether the Trustee will be protected in relying on any such direction, waiver or consent, only Notes that the Trustee knows are so owned will be so disregarded. 

 

 37 

 Section 2.10 Temporary Notes. 

Until certificates representing Notes are ready for delivery, the Company may prepare and the Trustee, upon receipt of an Authentication
Order, will authenticate temporary Notes. Temporary Notes will be substantially in the form of certificated Notes but may have variations that the Company considers appropriate for temporary Notes and as may be reasonably acceptable to the Trustee.
Without unreasonable delay, the Company will prepare and the Trustee will authenticate definitive Notes in exchange for temporary Notes. Holders of temporary Notes will be entitled to all of the benefits of this Indenture. 

Section 2.11 Cancellation. 

The Company at any time may deliver Notes to the Trustee for cancellation. The Registrar and Paying Agent will forward to the Trustee any
Notes surrendered to them for registration of transfer, exchange or payment. The Company may at any time deliver to the Trustee for cancellation any Notes previously authenticated and delivered hereunder which the Company may have acquired in any
manner whatsoever, and all Notes so delivered shall be promptly cancelled by the Trustee. The Trustee and no one else will cancel all Notes surrendered for registration of transfer, exchange, payment, replacement or cancellation and will dispose of
the canceled Notes in accordance with its standard procedures (subject to the record retention requirement of the Exchange Act). Certification of the disposal of all canceled Notes will be delivered to the Company upon request. The Company may not
issue new Notes to replace Notes that it has paid or that have been delivered to the Trustee for cancellation except as otherwise provided in this Indenture. 

Section 2.12 Defaulted Interest. 

If the Company defaults in a payment of interest on the Notes, it will pay the defaulted interest in any lawful manner plus, to the
extent lawful, interest payable on the defaulted interest, to the Persons who are Holders on a subsequent special record date, in each case at the rate provided in the Notes and in Section 4.01 hereof. The Company will notify the Trustee in
writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment. The Company will fix or cause to be fixed each such special record date and payment date; provided that no such special record
date may be less than 10 days prior to the related payment date for such defaulted interest. At least 15 days before the special record date, the Company (or, upon the written request of the Company, the Trustee in the name and at the
expense of the Company) will mail or cause to be mailed to Holders a notice that states the special record date, the related payment date and the amount of such interest to be paid. 

Section 2.13 CUSIP and ISIN Numbers. 

The Company in issuing the Notes may use “CUSIP” and “ISIN” or other similar numbers, and the Trustee will use CUSIP
numbers, ISIN numbers or other similar 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 ISIN numbers. 

 

 38 

 ARTICLE 3 

REDEMPTION AND PREPAYMENT 

Section 3.01 Notices to Trustee. 

If the Company elects to redeem Notes pursuant to the optional redemption provisions of Section 3.07 hereof, it must furnish to the
Trustee, at least 35 days but not more than 60 days before a redemption date, an Officers’ Certificate setting forth: 

(1) the clause of this Indenture pursuant to which the redemption shall occur; 

(2) the redemption date; 

(3) the principal amount of Notes to be redeemed; and 

(4) the redemption price. 

Section 3.02 Selection of Notes to Be Redeemed or Purchased. 

If less than all of the Notes are to be redeemed or purchased in an offer to purchase at any time, the Trustee will select the Notes for
redemption or purchase as follows: 
 (1) if the Notes are listed on any national securities exchange, in
compliance with the requirements of the principal national securities exchange on which the Notes are listed; or 

(2) if otherwise, on a pro rata basis, by lot or by such method as the Trustee shall deem fair and appropriate;

 provided that no Notes of $2,000 or less shall be redeemed in part. 

In the event of partial redemption or purchase, the particular Notes to be redeemed or purchased will be selected, unless otherwise
provided herein, not less than 30 nor more than 60 days prior to the redemption or purchase date by the Trustee from the outstanding Notes not previously called for redemption or purchase. 

The Trustee will promptly notify the Company in writing of the Notes selected for redemption or purchase and, in the case of any Note
selected for partial redemption or purchase, the principal amount thereof to be redeemed or purchased. Notes and portions of Notes selected will be in amounts of $2,000 or integral multiples of $1,000 in excess thereof; except that if all of the
Notes of a Holder are to be redeemed or purchased, the entire outstanding amount of Notes held by such Holder, even if not $2,000 or an integral multiple of $1,000 in excess thereof, shall be redeemed or purchased. Except as provided in the
preceding sentence, provisions of this Indenture that apply to Notes called for redemption or purchase also apply to portions of Notes called for redemption or purchase. 

Section 3.03 Notice of Redemption. 

Subject to the provisions of Section 3.09 hereof, at least 30 days but not more than 60 days before a redemption date, the
Company will mail or cause to be mailed, by first class mail, a notice of redemption to each Holder whose Notes are to be redeemed at its registered address, except that redemption notices may be mailed more than 60 days prior to a redemption
date if the notice is issued in 
  

 39 

 
connection with a defeasance of the Notes or a satisfaction and discharge of this Indenture pursuant to Articles 8 or 12 hereof. 

The notice will identify the Notes to be redeemed and will state: 

(1) the redemption date; 

(2) the redemption price; 

(3) if any Note is being redeemed in part, the portion of the principal amount of such Note to be redeemed and that, after
the redemption date upon surrender of such Note, a new Note or Notes in principal amount equal to the unredeemed portion will be issued in the name of the Holder thereof upon cancellation of the original Note; 

(4) the name and address of the Paying Agent; 

(5) that Notes called for redemption must be surrendered to the Paying Agent to collect the redemption price; 

(6) that, unless the Company defaults in making such redemption payment, interest on Notes or portions of them called for
redemption ceases to accrue on and after the redemption date; 
 (7) the paragraph of the Notes and/or
Section of this Indenture pursuant to which the Notes called for redemption are being redeemed; 
 (8) the
CUSIP or ISIN or other similar numbers, if applicable; and 
 (9) that no representation is made as to the
correctness or accuracy of the CUSIP or ISIN number, if any, listed in such notice or printed on the Notes. 
 At the
Company’s request, the Trustee will give the notice of redemption in the Company’s name and at its expense; provided, however, that the Company has delivered to the Trustee, at least 45 days (unless a shorter period shall be
acceptable to the Trustee) prior to the redemption date, an Officers’ Certificate requesting that the Trustee give such notice and setting forth the information to be stated in such notice as provided in the preceding paragraph. 

Section 3.04 Effect of Notice of Redemption. 

Once notice of redemption is mailed in accordance with Section 3.03 hereof, Notes called for redemption become irrevocably due and
payable on the redemption date at the redemption price. A notice of redemption may not be conditional. 
 Section 3.05 Deposit of
Redemption or Purchase Price. 
 One Business Day prior to the redemption or purchase date, the Company will deposit with the
Trustee or with the Paying Agent money sufficient to pay the redemption or purchase price of and accrued interest and Additional Interest, if any, on all Notes to be redeemed or purchased on that date. The Trustee or the Paying Agent will promptly
return to the Company any money deposited with the Trustee or the Paying Agent by the Company in excess of the amounts necessary to pay the redemption or 

 

 40 

 
purchase price of, and accrued interest and Additional Interest, if any, on, all Notes to be redeemed or purchased. 

If the Company complies with the provisions of the preceding paragraph, on and after the redemption or purchase date, interest will cease
to accrue on the Notes or the portions of Notes called for redemption or purchase. If a Note is redeemed or purchased on or after an interest record date but on or prior to the related interest payment date, then any accrued and unpaid interest
shall be paid to the Person in whose name such Note was registered at the close of business on such record date. If any Note called for redemption or purchase is not so paid upon surrender for redemption or purchase because of the failure of the
Company to comply with the preceding paragraph, interest shall be paid on the unpaid principal, from the redemption or purchase date until such principal is paid, and to the extent lawful on any interest not paid on such unpaid principal, in each
case at the rate provided in the Notes and in Section 4.01 hereof. 
 Section 3.06 Notes Redeemed or Purchased in Part.

 Upon surrender of a Note that is redeemed or purchased in part, the Company will issue and, upon receipt of an
Authentication Order, the Trustee will authenticate for the Holder at the expense of the Company a new Note equal in principal amount to the unredeemed or unpurchased portion of the Note surrendered. 

Section 3.07 Optional Redemption. 

(a) On or prior to September 1, 2013, the Company may redeem at any time at its option, up to 35% of the aggregate principal amount
of Notes from time to time originally issued under this Indenture in cash at a redemption price of 108.750% of the principal amount thereof, plus accrued and unpaid interest and Additional Interest, if any, thereon to the applicable
redemption date, with the net cash proceeds of one or more Public Equity Offerings; provided that: 
 (1)
at least 65% of the aggregate principal amount of Notes from time to time originally issued under this Indenture remains outstanding immediately after the occurrence of the redemption; and 

(2) the redemption shall occur within 90 days of the date of the closing of any such Public Equity Offering.

 (b) Not more than once during each twelve-month period ending on September 1 of 2011, 2012 and 2013, the Company may
redeem up to 10% of the aggregate principal amount of the Notes originally issued under this Indenture during each such twelve-month period, at a redemption price equal to 103% of the principal amount thereof, plus accrued and unpaid interest
and Additional Interest, if any, thereon to the applicable redemption date. 
 (c) Except pursuant to Sections 3.07(a) and
(b) hereof, the Notes will not redeemable at the Company’s option prior to September 1, 2013. 
 (d) On and after
September 1, 2015, the Company may redeem the Notes, at any time, at its option, in whole or in part, upon not less than 30 nor more than 60 days’ notice, in cash at the redemption prices (expressed as percentages of principal amount)
set forth below, plus accrued and unpaid interest and Additional Interest, if any, thereon to the applicable redemption date, if redeemed during the twelve-month period beginning on September 1 of the years indicated below: 

 

 41 

				
	 Year
	  	Percentage	 
	 2015
	  	104.375	% 
	 2016
	  	102.917	% 
	 2017
	  	101.458	% 
	 2018 and thereafter
	  	100.000	% 

 (e) Any
redemption pursuant to this Section 3.07 shall be made pursuant to the provisions of Sections 3.01 through 3.06 hereof. 

Section 3.08 Mandatory Redemption. 

The Company is not required to make mandatory redemption of, or sinking fund payments with respect to, the Notes. 

Section 3.09 Offer to Purchase by Application of Excess Proceeds. 

In the event that, pursuant to Section 4.10 hereof, the Company is required to commence an offer to all Holders to purchase Notes (an
“Asset Sale Offer”), it will follow the procedures specified below. 
 The Asset Sale Offer shall be made to all
Holders. The Asset Sale Offer will remain open for a period of at least 20 Business Days following its commencement and not more than 30 Business Days, except to the extent that a longer period is required by applicable law (the “Offer
Period”). No later than three Business Days after the termination of the Offer Period (the “Purchase Date”), the Company will apply all Excess Proceeds (the “Offer Amount”) to the purchase of Notes or, if less than the Offer
Amount has been tendered, all Notes and other Indebtedness tendered in response to the Asset Sale Offer. Payment for any Notes so purchased will be made in the same manner as interest payments are made. 

If the Purchase Date is on or after an interest record date and on or before the related interest payment date, any accrued and unpaid
interest and Additional Interest, if any, will be paid to the Person in whose name a Note is registered at the close of business on such record date, and no additional interest will be payable to Holders who tender Notes pursuant to the Asset Sale
Offer. 
 Upon the commencement of an Asset Sale Offer, the Company will send, by first class mail, a notice to the Trustee and
each of the Holders, with a copy to the Trustee. The notice will contain all instructions and materials necessary to enable such Holders to tender Notes pursuant to the Asset Sale Offer. The notice, which will govern the terms of the Asset Sale
Offer, will state: 
 (1) that the Asset Sale Offer is being made pursuant to this Section 3.09 and
Section 4.10 hereof and the length of time the Asset Sale Offer will remain open; 
 (2) the Offer Amount,
the purchase price and the Purchase Date; 
 (3) that any Note not tendered or accepted for payment will continue
to accrue interest; 
 (4) that, unless the Company defaults in making such payment, any Note accepted for
payment pursuant to the Asset Sale Offer will cease to accrue interest after the Purchase Date; 
  

 42 

 (5) that Holders electing to have a Note purchased pursuant to an Asset Sale
Offer may elect to have Notes purchased in denominations of $2,000 (or in integral multiples of $1,000 in excess thereof) only; 

(6) that Holders electing to have Notes purchased pursuant to any Asset Sale Offer will be required to surrender the Note,
with the form entitled “Option of Holder to Elect Purchase” attached to the Notes completed, or transfer by book-entry transfer, to the Company, a Depositary, if appointed by the Company, or a Paying Agent at the address specified in the
notice at least three days before the Purchase Date; 
 (7) that Holders will be entitled to withdraw their
election if the Company, the Depositary or the Paying Agent, as the case may be, receives, not later than the expiration of the Offer Period, a telegram, telex, facsimile transmission or letter setting forth the name of the Holder, the principal
amount of the Note the Holder delivered for purchase and a statement that such Holder is withdrawing his election to have such Note purchased; 

(8) that, if the aggregate principal amount of Notes surrendered by Holders thereof exceeds the Offer Amount, the Trustee
will select the Notes to be purchased in compliance with the requirements of any national securities exchange on which the Notes are listed or, if not listed, on a pro rata basis based on the principal amount of Notes surrendered (with such
adjustments as may be deemed appropriate by the Company so that only Notes in denominations of $2,000, or integral multiples of $1,000 in excess thereof, will be purchased); and 

(9) that Holders whose Notes were purchased only in part will be issued new Notes equal in principal amount to the
unpurchased portion of the Notes surrendered (or transferred by book-entry transfer). 
 On or before the Purchase Date, the
Company will, to the extent lawful, accept for payment, on a pro rata basis to the extent necessary, the Offer Amount of Notes or portions thereof tendered pursuant to the Asset Sale Offer, or if less than the Offer Amount has been tendered, all
Notes tendered, and will deliver or cause to be delivered to the Trustee the Notes properly accepted together with an Officers’ Certificate stating that such Notes or portions thereof were accepted for payment by the Company in accordance with
the terms of this Section 3.09. The Company, the Depositary or the Paying Agent, as the case may be, will promptly (but in any case not later than five days after the Purchase Date) mail or deliver to each tendering Holder an amount equal to
the purchase price of the Notes tendered by such Holder and accepted by the Company for purchase, and the Company will promptly issue a new Note, and the Trustee, upon written request from the Company, will authenticate and mail or deliver (or cause
to be transferred by book entry) such new Note to such Holder, in a principal amount equal to any unpurchased portion of the Note surrendered. Any Note not so accepted shall be promptly mailed or delivered by the Company to the Holder thereof. The
Company will publicly announce the results of the Asset Sale Offer on the Purchase Date. 
 Other than as specifically provided
in this Section 3.09, any purchase pursuant to this Section 3.09 shall be made pursuant to the provisions of Sections 3.01 through 3.06 hereof. 
  

 43 

 ARTICLE 4 

COVENANTS 

Section 4.01 Payment of Notes. 

The Company shall pay or cause to be paid the principal of, premium, if any, and interest and Additional Interest, if any, on, the Notes
on the dates and in the manner provided in the Notes. Principal, premium, if any, and interest and Additional Interest, if any will be considered paid on the date due if the Paying Agent, if other than the Company or a Subsidiary thereof, holds as
of 10:00 a.m. Eastern Time on the due date money deposited by the Company in immediately available funds and designated for and sufficient to pay all principal, premium, if any, and interest then due. The Company shall pay all Additional
Interest, if any, in the same manner on the dates and in the amounts set forth in the Registration Rights Agreement. 
 The
Company shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal at the then applicable interest rate on the Notes to the extent lawful; it shall pay interest (including post-petition
interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and Additional Interest (without regard to any applicable grace period) at the same rate to the extent lawful. 

Section 4.02 Maintenance of Office or Agency. 

The Company shall maintain in the Borough of Manhattan, the City of New York, an office or agency (which may be an office of the Trustee
or an affiliate of the Trustee, Registrar or co-registrar) where Notes may be surrendered for registration of transfer or for exchange and where notices and demands to or upon the Company in respect of the Notes and this Indenture may be served. The
Company shall 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 at the Corporate Trust Office of the Trustee. 

The Company may also from time to time designate one or more other offices or agencies where the Notes may be presented or surrendered
for any or all such purposes and may from time to time rescind such designations; provided, however, that no such designation or rescission will in any manner relieve the Company of its obligation to maintain an office or agency in the
Borough of Manhattan, the City of New York for such purposes. 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. 

The Company hereby designates the Corporate Trust Office of the Trustee as one such office or agency of the Company in accordance with
Section 2.03 hereof. 
 Section 4.03 Reports. 

Whether or not required by the rules and regulations of the SEC, so long as any Notes are outstanding, the Company shall file a copy with
the SEC for public availability within the time periods specified in the SEC’s rules and regulations, and if the SEC will not accept such a filing, shall furnish to the Holders within 15 days of the time that would apply if the Company were
required to file those reports with the SEC: 
 (a) all periodic reports that would be required to be filed with the SEC on
Forms 10-Q and 10-K if the Company were required to file those reports; and 
  

 44 

 (b) all current reports that would be required to be filed with the SEC on Form 8-K if
the Company were required to file those reports. 
 Delivery of such reports, information and documents to the Trustee is for
informational purposes only and the Trustee’s receipt of such shall not constitute constructive notice of any information contained therein or determinable from information contained therein, including the Company’s compliance with any of
its covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officers’ Certificates). 
 In
addition, for so long as any Notes remain outstanding and are not freely transferable under the Securities Act, the Company and the Guarantors shall furnish to the Holders and to securities analysts and prospective investors, upon their request, the
information required to be delivered pursuant to Rule 144A(d)(4) under the Securities Act. 
 Section 4.04 Compliance Certificate.

 (a) The Company and each Guarantor (to the extent that such Guarantor is so required under the TIA) shall deliver to the
Trustee, within 90 days after the end of each fiscal year, an Officers’ Certificate stating that a review of the activities of the Company and its Subsidiaries during the preceding fiscal year has been made under the supervision of the
signing Officers with a view to determining whether the Company has kept, observed, performed and fulfilled its obligations under this Indenture, and further stating, as to each such Officer signing such certificate, that to the best of his or her
knowledge the Company has kept, observed, performed and fulfilled each and every covenant contained in this Indenture and is not in default in the performance or observance of any of the terms, provisions and conditions of this Indenture (or, if a
Default or Event of Default has occurred, describing all such Defaults or Events of Default of which he or she may have knowledge and what action the Company is taking or proposes to take with respect thereto) and that to the best of his or her
knowledge no event has occurred and remains in existence by reason of which payments on account of the principal of or interest, if any, on the Notes is prohibited or if such event has occurred, a description of the event and what action the Company
is taking or proposes to take with respect thereto. 
 (b) So long as any of the Notes are outstanding, the Company will deliver
to the Trustee, forthwith upon any Officer becoming aware of any Default or Event of Default, an Officers’ Certificate specifying such Default or Event of Default and what action the Company is taking or proposes to take with respect thereto.

 Section 4.05 Taxes. 

The Company shall pay, and shall cause each of its Subsidiaries to pay, prior to delinquency, all material taxes, assessments, and
governmental levies except such as are contested in good faith and by appropriate proceedings or where the failure to effect such payment is not adverse in any material respect to the Holders. 

Section 4.06 Stay, Extension and Usury Laws. 

The Company and each of the Guarantors covenants (to the extent that it may lawfully do so) that it shall not at any time insist upon,
plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay, extension or usury law wherever enacted, now or at any time hereafter in force, that may affect the covenants or the performance of this Indenture; and the
Company and each of the Guarantors (to the extent that it may lawfully do so) hereby expressly waives all benefit or advantage of any such law, and covenants that it will not, by resort to any such law, hinder, delay or impede the

  

 45 

 
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 has been enacted. 

Section 4.07 Restricted Payments. 

The Company shall not, and shall 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 other than: 
 (a) dividends or distributions payable in Equity
Interests (other than Disqualified Stock) of the Company; or 
 (b) dividends or distributions payable to the
Company or any Restricted Subsidiary of the Company; 
 (2) purchase, redeem or otherwise acquire or retire for
value any Equity Interests of the Company other than any of those Equity Interests owned by the Company or any Restricted Subsidiary of the Company; 

(3) make any principal payment on or with respect to, or purchase, redeem, defease or otherwise acquire or retire for
value, any Subordinated Indebtedness of the Company or any Guarantor, except a payment of interest or principal at the Stated Maturity thereof; or 

(4) make any Restricted Investment 

(all 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 that Restricted Payment: 
 (1) no Default or Event of Default
shall have occurred and be continuing or would occur as a consequence thereof; 
 (2) the Company would,
immediately after giving pro forma effect thereto as if that 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 4.09(a) hereof; and 
 (3) that Restricted Payment together with
the aggregate amount of all other Restricted Payments made by the Company and its Restricted Subsidiaries after the date of this Indenture (excluding Restricted Payments permitted by subsections (1) (to the extent that the declaration of any
dividend referred to therein reduces amounts available for Restricted Payments pursuant to this clause (3)), (2) through (4) and (6) through (11) of the next succeeding paragraph of this Section 4.07), 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) commencing on the date hereof to the end of the Company’s most recently ended fiscal quarter for which internal financial statements are available at the time of that Restricted Payment (or, if Consolidated Net Income for
that period is a deficit, less 100% of the deficit); plus 
  

 46 

 (b) 100% of the Qualified Proceeds received by the Company on or after the
date of this Indenture from contributions to the Company’s capital or from the issue or sale on or after the date of this Indenture of Equity Interests (other than Disqualified Stock) of the Company or of Disqualified Stock or debt securities
of the Company to the extent that they have been converted into or exchanged for Equity Interests (other than Disqualified Stock) of the Company, other than Equity Interests, Disqualified Stock or debt securities sold to a Subsidiary of the
Company; plus 
 (c) the amount equal to the net reduction in Investments in Persons after the date of
this Indenture who are not Restricted Subsidiaries (other than Permitted Investments) resulting from: 
 (i)
Qualified Proceeds received as a dividend, repayment of a loan or advance or other transfer of assets (valued at the fair market value thereof) to the Company or any Restricted Subsidiary from those Persons; 

(ii) Qualified Proceeds received upon the sale or liquidation of those Investments; and 

(iii) the redesignation of Unrestricted Subsidiaries (excluding any increase in the amount available for Restricted
Payments pursuant to clause (8) below arising from the redesignation of that Unrestricted Subsidiary) as Restricted Subsidiaries (valued, proportionate to the Company’s equity interest in that Subsidiary, at the fair market value of the
net assets of that Subsidiary at the time of that redesignation). 
 The foregoing provisions shall not prohibit: 

(1) the payment of any dividend within 60 days after the date of declaration thereof, if at the date of declaration,
the payment would have complied with the provisions of this Indenture; 
 (2) the redemption, repurchase,
retirement, defeasance or other acquisition of any Subordinated Indebtedness or Equity Interests of the Company or any Guarantor in exchange for, or out of the net cash proceeds of the substantially concurrent sale (other than to a Subsidiary of the
Company) of Equity Interests of the Company (other than any Disqualified Stock); 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; 
 (3) the defeasance, redemption, repurchase,
retirement or other acquisition of Subordinated Indebtedness with the net cash proceeds from an incurrence of, or in exchange for, Permitted Refinancing Indebtedness; 

(4) the payment of dividends by a Restricted Subsidiary on any class of common stock of that Restricted Subsidiary if:

 (a) that dividend is paid pro rata to all holders of that class of common stock; and 

(b) at least 51% of that class of common stock is held by the Company or one or more of its Restricted Subsidiaries;

  

 47 

 (5) the declaration and payment of cash dividends or distributions with
respect to the Capital Stock of the Company in an amount not in excess of $15.0 million in any fiscal year; 

(6) the declaration and payment of dividends to holders of any class or series of Disqualified Stock of the Company, or to
holders of any class or series of Disqualified Stock or preferred stock of any Restricted Subsidiary, in each case issued on or after the date of this Indenture in accordance with Section 4.09 hereof; provided that no Default or Event of
Default shall have occurred and be continuing immediately after making that Restricted Payment; 
 (7)
repurchases of Equity Interests deemed to occur upon exercise of stock options if those Equity Interests represent a portion of the exercise price of those options, and the repurchase of Equity Interests to the extent used to pay taxes or other
amounts due upon the grant, exercise or conversion of any Equity Interests granted pursuant to any management or employee equity plan, stock option plan or benefit plan or agreement; 

(8) any other Restricted Payment which, together with all other Restricted Payments made pursuant to this clause (8)
since the date of this Indenture, does not exceed $65.0 million, in each case, after giving effect to all subsequent reductions in the amount of any Restricted Investment made pursuant to this clause (8) either as a result of (i) the
repayment or disposition thereof for cash or other Qualified Proceeds or (ii) the redesignation of an Unrestricted Subsidiary as a Restricted Subsidiary (valued, proportionate to the Company’s equity interest in that Subsidiary at the time
of that redesignation, at the fair market value of the net assets of that Subsidiary at the time of that redesignation), in the case of clause (i) and (ii), not to exceed the amount of the Restricted Investment previously made pursuant to
this clause (8); provided that no Default or Event of Default shall have occurred and be continuing immediately after making that Restricted Payment; 

(9) the pledge by the Company of the Capital Stock of an Unrestricted Subsidiary of the Company to secure Non-Recourse
Debt of that Unrestricted Subsidiary; 
 (10) the purchase, retirement or other acquisition of Equity Interests
of the Company pursuant to any management or employee equity plan, stock option plan or benefit plan or agreement; provided that the aggregate Restricted Payments made under this clause (10) do not exceed $5.0 million in any fiscal
year, with unused amounts carried over to succeeding fiscal years; and 
 (11) distributions or payments of
Receivables Fees. 
 The Board of Directors of the Company may designate any Restricted Subsidiary to be an Unrestricted
Subsidiary if that designation would not cause a Default. For purposes of making that designation, all outstanding Investments by the Company and its Restricted Subsidiaries (except to the extent repaid in cash) in the Subsidiary so designated will
be deemed to be Investments made at the time of that designation. All such outstanding Investments will be deemed to constitute Investments in an amount equal to the greater of (x) the net book value of that Investments at the time of that
designation and (y) the fair market value of that Investments at the time of that designation. 
 That designation shall
only be permitted if that Investment would be permitted at that time and if that Restricted Subsidiary otherwise meets the definition of an Unrestricted Subsidiary. 

 

 48 

 The amount of: 

(a) 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 by the Company or that Restricted Subsidiary, as the case may be, pursuant to the Restricted Payment; and 

(b) Qualified Proceeds (other than cash) shall be the fair market value on the date of receipt thereof by the Company of those Qualified
Proceeds. 
 Section 4.08 Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries. 

(a) The Company shall not, and shall not permit any of its Restricted Subsidiaries to, directly or indirectly, create or otherwise cause
or suffer to exist or become effective any encumbrance or restriction on the ability of any Restricted Subsidiary to: 

(1) (a) pay dividends or make any other distributions to the Company or any of its Restricted Subsidiaries
(i) on its Capital Stock or (ii) with respect to any other interest or participation in, or measured by, its profits; or 

(b) pay any Indebtedness 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 restrictions in Section 4.08(a) hereof shall not apply to encumbrances or restrictions existing under or by reason of:

 (1) Existing Indebtedness as in effect on the date of this Indenture; 

(2) the Credit Agreement as in effect as of the date of this Indenture, and any amendments, modifications, restatements,
renewals, increases, supplements, refundings, replacements or refinancings thereof; provided that the restrictions contained in any amendment, modification, restatement, renewal, increase, supplement, refunding, replacement or refinancing of
the Credit Agreement are, in the good faith judgment of the Company’s Board of Directors, not materially less favorable, taken as a whole, to the Holders than those contained in the Credit Agreement (i) as in effect as of the date of this
Indenture or (ii) as amended and restated on or after the date of this Indenture substantially as described under the caption “Description of Certain Indebtedness—New Asset-Based Revolving Credit Facility” in the Offering
Memorandum; 
 (3) this Indenture, the Notes and the Note Guarantees; 

(4) applicable law and any applicable rule, regulation or order; 

(5) any agreement or instrument of a Person acquired by the Company or any of its Restricted Subsidiaries as in effect at
the time of that acquisition (except to the extent created in contemplation of that 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 
  

 49 

 
of the Person, so acquired; provided that, in the case of Indebtedness, that Indebtedness was permitted by the terms of this Indenture to be incurred; 

(6) customary non-assignment provisions in leases entered into in the ordinary course of business and consistent with past
practices; 
 (7) purchase money obligations for property acquired in the ordinary course of business that impose
customary restrictions on the property so acquired; 
 (8) contracts for the sale of assets, including, without
limitation, customary restrictions with respect to a Subsidiary pursuant to an agreement that has been entered into for the sale or disposition of all or substantially all of the Capital Stock or assets of that Subsidiary; 

(9) Permitted Refinancing Indebtedness; provided that the restrictions contained in the agreements governing that
Permitted Refinancing Indebtedness are, in the good faith judgment of the Company’s Board of Directors, not materially less favorable, taken as a whole, to the Holders than those contained in the agreements governing the Indebtedness being
refinanced; 
 (10) secured Indebtedness otherwise permitted to be incurred under the provisions of
Sections 4.09 and 4.12 hereof that limit the right of the debtor to dispose of the assets securing that Indebtedness; 

(11) restrictions on cash or other deposits or net worth imposed by customers under contracts entered into in the ordinary
course of business; 
 (12) other Indebtedness or Disqualified Stock or preferred stock of Restricted
Subsidiaries permitted to be incurred subsequent to the date of this Indenture pursuant to Section 4.09 hereof; 

(13) customary provisions in joint venture agreements and other similar agreements entered into in the ordinary course of
business; and 
 (14) restrictions created in connection with any Receivables Facility that, in the good faith
determination of the board of directors of the Company, are necessary or advisable to effect that Receivables Facility. 
 Section 4.09
Incurrence of Indebtedness and Issuance of Preferred Stock 
 (a) (1) The Company shall not, and shall not permit any of
its Restricted Subsidiaries to, directly or indirectly, create, incur, issue, assume, guarantee or otherwise become directly or indirectly liable, contingently or otherwise, with respect to (collectively, “incur”) any Indebtedness
(including Acquired Indebtedness); 
 (2) the Company shall not, and shall not permit any of its Restricted
Subsidiaries to issue any shares of Disqualified Stock; and 
 (3) the Company shall not permit any of its
Restricted Subsidiaries to issue any shares of preferred stock; 
 provided that the Company or any Restricted Subsidiary may incur
Indebtedness, including Acquired Indebtedness, or issue shares of Disqualified Stock, and any Restricted Subsidiary may issue shares of 

 

 50 

 
preferred stock, 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 that additional Indebtedness is incurred or that Disqualified Stock or preferred stock is issued would have been at least 2.0 to 1, determined on a consolidated pro forma basis, including a pro forma application of the
net proceeds therefrom, as if the additional Indebtedness had been incurred, or the Disqualified Stock or preferred stock had been issued, as the case may be, at the beginning of that four-quarter period. 

(b) The provisions of Section 4.09(a) will not apply to the incurrence of any of the following items of Indebtedness, Disqualified
Stock or preferred stock of Restricted Subsidiaries (collectively, “Permitted Indebtedness”): 
 (1)
the incurrence by the Company and its Restricted Subsidiaries of Indebtedness under Credit Facilities; provided that the aggregate principal amount of all Indebtedness (with letters of credit being deemed to have a principal amount equal to
the maximum potential liability of the Company and those Restricted Subsidiaries thereunder) then classified as having been incurred in reliance upon this clause (1) that remains outstanding under such Credit Facilities after giving effect to
that incurrence does not exceed at the time of any incurrence, the greater of: 
 (A) $275.0 million, less the
aggregate amount of all proceeds from Asset Sales applied by the Company or any Restricted Subsidiary to permanently repay any such Indebtedness pursuant to Section 4.10 hereof; 

(B) an amount equal to the sum of (i) 85% of accounts receivable of the Company and its Restricted Subsidiaries as of
the end of the most recently ended fiscal quarter for which internal consolidated financial statements are available plus (ii) 65% of inventory of the Company and its Restricted Subsidiaries as of the end of the most recently ended
fiscal quarter for which internal consolidated financial statements are available, in each case on a pro forma basis to give effect to any acquisition after such balance sheet date and on or prior to the date (the “Incurrence Date”) on
which that additional Indebtedness is to be incurred; and 
 (C) an amount equal to two times the Consolidated
Cash Flow of the Company for the most recently ended four full fiscal quarters for which internal financial statements are available immediately preceding the Incurrence Date (exclusive of amounts attributable to discontinued operations, as
determined in accordance with GAAP, or operations and businesses disposed of prior to the Incurrence Date); provided that for purposes of making the computation in this clause (c), acquisitions that have been made by the Company or any of its
Subsidiaries, including all mergers or consolidations and any related financing transactions, during the four-quarter reference period or subsequent to that reference period and on or prior to the Incurrence Date shall be deemed to have occurred on
the first day of the four-quarter reference period and Consolidated Cash Flow for that reference period shall be calculated to include the Consolidated Cash Flow of the acquired entities on a pro forma basis after giving effect to cost savings
reasonably expected to be realized in connection with that acquisition, as calculated on a basis that is consistent with Article 11 of Regulation S-X under the Securities Act and without giving effect to clause (3) of the proviso set forth in
the definition of Consolidated Net Income; 
 (2) the incurrence by the Company and its Restricted Subsidiaries
of Existing Indebtedness; 
  

 51 

 (3) the incurrence of Indebtedness represented by the Notes and the Note
Guarantees to be issued on the date of this Indenture and any Exchange Notes and Exchange Guarantees issued in exchange therefor in accordance with the Registration Rights Agreement; 

(4) the incurrence by the Company or any of its Restricted Subsidiaries of Indebtedness represented by Capital Lease
Obligations or other obligations, or Disqualified Stock or preferred stock, in each case, the proceeds of which are used solely for the purpose of financing all or any part of the purchase price or cost of construction or improvement of property,
plant or equipment (including acquisitions of Capital Stock of a Person that becomes a Restricted Subsidiary to the extent of the fair market value of the property, plant or equipment so acquired) used or useful in the business of the Company or
that Restricted Subsidiary, in an aggregate principal amount (or accreted value, as applicable), including all Permitted Refinancing Indebtedness to refund, refinance or replace such Indebtedness, Disqualified Stock or preferred stock, not to exceed
$50.0 million outstanding after giving effect to that incurrence; 
 (5) Indebtedness arising from
agreements of the Company or any Restricted Subsidiary providing for indemnification, adjustment of purchase price or similar obligations, in each case, incurred or assumed in connection with the acquisition or disposition of any business, assets or
a Subsidiary, other than guarantees of Indebtedness incurred by any Person acquiring all or any portion of such business, assets or Subsidiary for the purpose of financing that acquisition; provided that: 

(a) that Indebtedness is not reflected on the balance sheet of the Company or any Restricted Subsidiary (contingent
obligations referred to in a footnote or footnotes to financial statements and not otherwise reflected on the balance sheet will not be deemed to be reflected on that balance sheet for purposes of this clause (a)); and 

(b) in the case of a disposition, the maximum assumable liability in respect of that Indebtedness shall at no time exceed
the gross proceeds including non-cash proceeds (the fair market value of those non-cash proceeds being measured at the time received and without giving effect to any subsequent changes in value) actually received by the Company and/or that
Restricted Subsidiary in connection with that disposition; 
 (6) the incurrence by the Company or any of its
Restricted Subsidiaries 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 is then classified as having been incurred
pursuant to Section 4.09(a) or by clauses (2), (3), (4), (6), (10), (13) or (14) of this Section 4.09(b); 

(7) the incurrence by the Company or any of its Restricted Subsidiaries of intercompany Indebtedness, Disqualified Stock
or preferred stock between or among the Company and/or any of its Restricted Subsidiaries; provided that: 

(a) if the Company or any Guarantor is the obligor on that Indebtedness, that Indebtedness is expressly subordinated to
the prior payment in full in cash of all Obligations with respect to the Notes or applicable Note Guarantee; and 

(b) (i) any subsequent issuance or transfer of Equity Interests that results in any such Indebtedness, Disqualified
Stock or preferred stock being held by a Person other than the Company or a Restricted Subsidiary thereof and 
  

 52 

 (ii) any sale or other transfer of any such Indebtedness, Disqualified
Stock or preferred stock 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 that Indebtedness, Disqualified Stock or preferred stock by the Company or that Restricted Subsidiary, as the case may be, that was not permitted by this clause (7); 

(8) the incurrence by the Company or any of its Restricted Subsidiaries of Hedging Obligations that are incurred for the
purpose of fixing, hedging or swapping interest rate, exchange rate or commodity price 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 foreign currency exchange rates, interest rates or commodity prices or by reason of fees, indemnities and compensation payable thereunder; 

(9) the guarantee by the Company or any of its Restricted Subsidiaries of Indebtedness of the Company or a Restricted
Subsidiary of the Company that was permitted to be incurred by another provision of this Section 4.09; 

(10) obligations in respect of letters of credit, performance and surety bonds and completion guarantees (including
related letters of credit) provided by the Company or any Restricted Subsidiary in the ordinary course of business; 

(11) Indebtedness arising from the honoring by a bank or other financial institution of check, draft or similar instrument
drawn against insufficient funds is the ordinary course of business; provided that such Indebtedness is extinguished within two business days of its incurrence; 

(12) Indebtedness consisting of guarantees of Indebtedness of a joint venture that is not a Restricted Subsidiary;
provided that the aggregate amount of Indebtedness so guaranteed under this clause (12) shall not exceed $50.0 million; 

(13) the incurrence by the Company or any of its Restricted Subsidiaries of Acquired Indebtedness in an aggregate
principal amount (or accreted value, as applicable) outstanding after giving effect to that incurrence, including all Permitted Refinancing Indebtedness incurred to refund, refinance or replace any Indebtedness incurred pursuant to this clause (13),
not to exceed $20.0 million; and 
 (14) the incurrence by the Company or any of its Restricted Subsidiaries of
additional Indebtedness, Disqualified Stock or preferred stock in an aggregate principal amount (or accreted value, as applicable) outstanding after giving effect to that incurrence, including all Permitted Refinancing Indebtedness incurred to
refund, refinance or replace any Indebtedness incurred pursuant to this clause (14), not to exceed $50.0 million. 

(c) For purposes of determining compliance with this Section 4.09, in the event that an item of Indebtedness (or any portion
thereof) meets the criteria of more than one of the categories of Permitted Indebtedness described in Sections 4.09(b) (1) through (14) hererof or is entitled to be incurred pursuant to Section 4.09(a) hereof, the Company shall, in
its sole discretion, classify that item of Indebtedness (or any portion thereof) in any manner that complies with this Section 4.09 and that item of Indebtedness (or any portion thereof) shall be treated as having been incurred pursuant to only
one of those clauses or 
  

 53 

 
pursuant to Section 4.09(a). The Company may, at any time, change the classification of an item of Indebtedness (or any portion thereof) to any other clause or to the first paragraph hereof;
provided that the Company would be permitted to incur that item of Indebtedness (or that portion thereof) pursuant to that other clause or the first paragraph hereof, as the case may be, at the time of reclassification. Accrual of interest,
accretion or amortization of original issue discount shall not be deemed to be an incurrence of Indebtedness for purposes of this Section 4.09. 

Accrual of interest, accretion or amortization of original issue discount will not be deemed to be an incurrence of Indebtedness for
purposes of this Section 4.09. 
 The Company will not incur any Indebtedness that is subordinate in right of payment to
any other Indebtedness of the Company unless it is subordinate in right of payment to the Notes at least to the same extent. The Company will not permit any Guarantor to incur any Indebtedness that is subordinate in right of payment to any other
Indebtedness of such Guarantor unless it is subordinate in right of payment to such Guarantor’s Note Guarantee at least to the same extent. For purposes of this Indenture, no Indebtedness will be deemed to be subordinated 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 4.10 Asset Sales. 

The Company shall not, and shall 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 that Asset Sale at
least equal to the fair market value of the assets or Equity Interests issued or sold or otherwise disposed of; and 

(2) at least 75% of the consideration therefor received by the Company or the Restricted Subsidiary is in the form of:

 (a) cash or Cash Equivalents; or 

(b) property or assets that are used or useful in a Permitted Business, or the Capital Stock of any Person engaged in a
Permitted Business if, as a result of the acquisition by the Company or any Restricted Subsidiary thereof, that Person becomes a Restricted Subsidiary. 

For the purposes of this Section 4.10(2), each of the following shall be deemed to be cash: 

(i) any liabilities, as shown on the Company’s or the Restricted Subsidiary’s most recent balance sheet, of the
Company or any Restricted Subsidiary (other than contingent liabilities and liabilities that are by their terms subordinated to the Notes or any Note Guarantee and any liabilities to the extent owed to the Company or any Affiliate of the Company)
that are assumed by the transferee of any such assets pursuant to a written agreement that releases the Company or the Restricted Subsidiary from further liability; 

 

 54 

 (ii) any securities, notes or other obligations received by the Company or
the Restricted Subsidiary from the transferee that are converted by the Company or the Restricted Subsidiary into cash or Cash Equivalents within 180 days of their receipt by the Company or the Restricted Subsidiary, but only to the extent of
the cash or Cash Equivalents received; and 
 (iii) any Designated Noncash Consideration received by the Company
or any of its Restricted Subsidiaries in that Asset Sale having an aggregate fair market value, taken together with all other Designated Noncash Consideration received pursuant to this clause (iii) that is at that time outstanding, not to
exceed 15% of Total Assets at the time of the receipt of that Designated Noncash Consideration, with the fair market value of each item of Designated Noncash Consideration being measured at the time received and without giving effect to subsequent
changes in value. 
 The 75% limitation referred to in clause (2) above will not apply to any Asset Sale in which the cash
or Cash Equivalents portion of the consideration received therefrom, determined in accordance with subclauses (i), (ii) and (iii) above, is equal to or greater than what the after-tax proceeds would have been had that Asset Sale
complied with the aforementioned 75% limitation. 
 Within 18 months after the receipt of any Net Proceeds from an Asset Sale,
the Company or the Restricted Subsidiary, as the case may be, shall apply the Net Proceeds, at its option (or to the extent the Company is required to apply the Net Proceeds pursuant to the terms of the Credit Agreement), to: 

(3) repay (a) Indebtedness secured by such assets, (b) Indebtedness of a Restricted Subsidiary that is not a
Guarantor (other than Indebtedness owed to the Company or another Restricted Subsidiary), (c) Indebtedness outstanding under Section 4.09(b)(1) or (d) other Pari Passu Indebtedness and, in each case, if the Indebtedness repaid is
revolving credit Indebtedness, to correspondingly reduce commitments with respect thereto; provided that if the Company or a Guarantor shall repay Pari Passu Indebtedness, 

(a) it shall ratably reduce Indebtedness under the Notes by redeeming Notes if the Notes are then redeemable; or

 (b) the Company shall make an offer, in accordance with the procedures set forth below for an Asset Sale
Offer, to all Holders to purchase at a purchase price equal to 100% of the principal amount of the Notes, plus accrued and unpaid interest and Additional Interest, if any, thereon to the date of purchase, the Notes that would otherwise be
redeemed; or 
 (4) (a) make an investment in property, make a capital expenditure or acquire assets that,
in each case, are used or useful in a Permitted Business; or 
 (b) acquire Capital Stock of any Person primarily
engaged in a Permitted Business if: 
 (x) as a result of the acquisition by the Company or any Restricted
Subsidiary thereof, that Person becomes a Restricted Subsidiary; or 
 (y) the Investment in that Capital Stock
is permitted by clause (6) of the definition of Permitted Investments. 
  

 55 

 Pending the final application of any Net Proceeds, the Company may temporarily reduce Indebtedness or
otherwise invest those Net Proceeds in any manner that is not prohibited by this Indenture. 
 Any Net Proceeds from Asset Sales
that are not applied or invested within 18 months after their receipt as provided in the preceding paragraph will be deemed to constitute “Excess Proceeds.” When the aggregate amount of Excess Proceeds exceeds $10.0 million, the
Company shall make an offer (an “Asset Sale Offer”) to all Holders and all holders of other Pari Passu Indebtedness containing provisions similar to those set forth in this Section 4.10 to purchase the maximum principal amount of
Notes and such other Pari Passu Indebtedness that may be purchased out of the Excess Proceeds, at an offer price in cash in an amount equal to 100% of the principal amount thereof, plus accrued and unpaid interest and Additional Interest, if
any, thereon to the date of purchase, in accordance with the procedures set forth in this Indenture. 
 To the extent that any
Excess Proceeds remain after consummation of an Asset Sale Offer, the Company may use those Excess Proceeds for any purpose not otherwise prohibited by this Indenture. If the aggregate principal amount of Notes and such other Pari Passu Indebtedness
surrendered by Holders thereof in connection with an Asset Sale Offer exceeds the amount of Excess Proceeds, the Trustee shall select the Notes and such other Pari Passu Indebtedness to be purchased on a pro rata basis. Upon completion of an offer
to purchase, the amount of Excess Proceeds subject to such offer shall no longer be deemed to be Excess Proceeds. 
 The Company
shall comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations thereunder to the extent those laws and regulations are applicable in connection with the repurchase of the Notes pursuant to
an Asset Sale Offer. To the extent that the provisions of any securities laws or regulations conflict with the provisions of Section 3.09 hereof or this Section 4.10, the Company shall comply with the applicable securities laws and
regulations and shall not be deemed to have breached its obligations under Section 3.09 or this Section 4.10 by virtue of such compliance. 

Section 4.11 Transactions with Affiliates. 

(a) The Company shall not, and shall 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 or make or amend any transaction, contract, agreement, understanding, loan, advance or guarantee with, or for the benefit of, any
Affiliate of the Company (each of the foregoing, an “Affiliate Transaction”) involving aggregate payments or consideration in excess of $10.0 million, unless: 

(1) that Affiliate Transaction is on terms that are no less favorable to the Company or that Restricted Subsidiary than
those that would have been obtained in a comparable transaction by the Company or that Restricted Subsidiary with an unrelated Person; and 

(2) the Company delivers to the Trustee, with respect to any Affiliate Transaction or series of related Affiliate
Transactions: 
 (a) for transactions involving aggregate consideration in excess of $25.0 million, a
resolution of the Board of Directors set forth in an Officers’ Certificate certifying that the relevant Affiliate Transaction complies with clause (1) of this Section 4.11(a) and that such Affiliate Transaction has been approved by a
majority of the disinterested members of the Board of Directors; and 
  

 56 

 (b) for transactions involving aggregate consideration in excess of
$75.0 million, an opinion that the Affiliate Transaction complies with Section 4.11(a)(1) or that the Affiliate Transaction is fair to the Holders from a financial point of view, issued by an accounting, appraisal or investment banking
firm of national standing. 
 (b) The following shall not be deemed to be Affiliate Transactions and, therefore, shall not be
subject to the provisions of Section 4.11(a): 
 (1) customary directors’ fees, indemnification or
similar arrangements or any employment agreement or other compensation plan or arrangement entered into by the Company or any of its Restricted Subsidiaries in the ordinary course of business (including ordinary course loans to employees not to
exceed (a) $5.0 million outstanding in the aggregate at any time and (b) $2.0 million to any one employee) and consistent with the past practice of the Company or that Restricted Subsidiary; 

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

(3) any agreement as in effect on the date of this Indenture or any amendment thereto (so long as that amendment is not
disadvantageous to the Holders in any material respect) or any transaction contemplated thereby; 
 (4)
Restricted Payments that are permitted under Section 4.07 hereof and any Permitted Investments; 
 (5) sales
of accounts receivable, or participations therein, in connection with any Receivables Facility; 
 (6) any
issuance or sale of Equity Interests (other than Disqualified Stock) of the Company; and 
 (7) transactions with
joint ventures on an arm’s length basis approved by the Board of Directors. 
 Section 4.12 Liens. 

The Company shall not, and shall not permit any of its Restricted Subsidiaries to, create, incur, assume or otherwise cause or suffer to
exist or become effective any Lien (other than Permitted Liens) upon any of their property or assets, now owned or hereafter acquired, unless all obligations under this Indenture and the Note or Note Guarantee, as the case may be, are secured by a
Lien on such property or assets on an equal and ratable basis with the obligations secured by such Lien (or, in the case of Subordinated Indebtedness, senior in priority thereto, with the same relative priority as the Notes will have with respect to
such Subordinated Indebtedness) until such time as such obligations are no longer secured by a Lien. 
  

 57 

 Section 4.13 Sale and Leaseback Transactions. 

The Company shall not, and shall not permit any of its Restricted Subsidiaries to, enter into any Sale and Leaseback Transaction;
provided that the Company or any Restricted Subsidiary may enter into a Sale and Leaseback Transaction if: 

(1) the Company or such Restricted Subsidiary, as applicable, could have (a) incurred Indebtedness in an amount equal
to the Attributable Indebtedness relating to such Sale and Leaseback Transaction and (b) incurred a Lien to secure such Indebtedness pursuant to Section 4.12 hereof; 

(2) the gross cash proceeds of that Sale and Leaseback Transaction are at least equal to the fair market value of the
property that is the subject of that Sale and Leaseback Transaction; and 
 (3) the transfer of assets in that
Sale and Leaseback Transaction is permitted by, and the Company applies the proceeds of such transaction in compliance with, Section 4.10 hereof. 

Section 4.14 Corporate Existence. 

Subject to Section 4.10 and Article 5 hereof, the Company shall do or cause to be done all things necessary to preserve and keep
in full force and effect: 
 (1) its corporate existence, and the corporate, partnership or other existence of
each of its Restricted Subsidiaries, in accordance with the respective organizational documents (as the same may be amended from time to time) of the Company or any such Restricted Subsidiary; and 

(2) the rights (charter and statutory), licenses and franchises of the Company and its Restricted Subsidiaries;
provided, however, that the Company shall not be required to preserve any such right, license or franchise, or the corporate, partnership or other existence of any of its Restricted Subsidiaries, if the Board of Directors shall determine that
the preservation thereof is no longer desirable in the conduct of the business of the Company and its Subsidiaries, taken as a whole, and that the loss thereof is not adverse in any material respect to the Holders. 

Section 4.15 Offer to Repurchase Upon Change of Control. 

(a) Upon the occurrence of a Change of Control, the Company shall make an offer (a “Change of Control Offer”) to each Holder to
repurchase all or any part (equal to $2,000 or an integral multiple of $1,000 in excess thereof) of that Holder’s Notes at a purchase price in cash equal to 101% of the aggregate principal amount thereof, plus accrued and unpaid
interest and Additional Interest, if any, thereon to the date of repurchase (the “Change of Control Payment”). Within 75 days following any Change of Control, the Company shall or shall cause the Trustee to mail a notice to each
Holder describing the transaction or transactions that constitute the Change of Control and stating: 
 (1) that
the Change of Control Offer is being made pursuant to this Section 4.15 and that all Notes tendered in accordance with the terms of the Change of Control Offer shall be accepted for payment; 

(2) the purchase price and the date of purchase, which shall be no earlier than 30 days and no later than
60 days from the date such notice is mailed (the “Change of Control Payment Date”); 
  

 58 

 (3) that any Note not tendered will continue to accrue interest; 

(4) that, unless the Company defaults in the payment of the Change of Control Payment, all Notes accepted for payment
pursuant to the Change of Control Offer will cease to accrue interest after the Change of Control Payment Date; 

(5) that Holders electing to have any Notes purchased pursuant to a Change of Control Offer shall be required to surrender
the Notes, with the form entitled “Option of Holder to Elect Purchase” attached to the Notes completed, or transfer by book-entry transfer, to the Paying Agent at the address specified in the notice prior to the close of business on the
third Business Day preceding the Change of Control Payment Date; 
 (6) that Holders shall be entitled to
withdraw their election if the Paying Agent receives, not later than the close of business on the second Business Day preceding the Change of Control Payment Date, a telegram, telex, facsimile transmission or letter setting forth the name of the
Holder, the principal amount of Notes delivered for purchase, and a statement that such Holder is withdrawing his election to have the Notes purchased; and 

(7) that Holders whose Notes are being purchased only in part shall be issued new Notes equal in principal amount to the
unpurchased portion of the Notes surrendered, which unpurchased portion must be equal to $2,000 in principal amount or an integral multiple of $1,000 in excess thereof. 

The Company shall comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations
thereunder to the extent those laws and regulations are applicable in connection with the repurchase of the Notes as a result of a Change of Control. To the extent that the provisions of any securities laws or regulations conflict with the
provisions of this Section 4.15, the Company shall comply with the applicable securities laws and regulations and shall not be deemed to have breached its obligations under this Section 4.15 by virtue of such compliance. 

(b) On the Change of Control Payment Date, the Company shall, to the extent lawful: 

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

 (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 Officers’ Certificate stating the aggregate principal amount of Notes or portions thereof being purchased by the Company. 

The Paying Agent shall as soon as practicable mail to each Holder the Change of Control Payment for the properly tendered Notes, and the
Trustee shall as soon as practicable 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 each new Note shall be
in a principal amount of $2,000 or an integral multiple of $1,000 in excess thereof. The Company shall publicly announce the results of the Change of Control Offer promptly after the Change of Control Payment Date. 

(c) Notwithstanding anything to the contrary in this Section 4.15, the Company shall not be required to make a Change of Control
Offer upon a Change of Control if a third party makes the Change 
  

 59 

 
of Control Offer in the manner, at the times and otherwise in compliance with the requirements set forth in this Section 4.15 and purchases all Notes validly tendered and not withdrawn under
the Change of Control Offer. 
 Section 4.16 Additional Note Guarantees. 

If the Company or any of its Restricted Subsidiaries acquires or creates another Domestic Subsidiary on or after the date hereof, then
that newly acquired or created Domestic Subsidiary shall become a Guarantor and execute a supplemental indenture in substantially the form of Exhibit D and, if such newly acquired or created Domestic Subsidiary is a Material Subsidiary, deliver
an Opinion of Counsel to the Trustee. 
 The Company shall not permit any of its Restricted Subsidiaries, directly or
indirectly, to guarantee or pledge any assets to secure the payment of any other Indebtedness of the Company or any Guarantor unless such Restricted Subsidiary is a Guarantor or simultaneously executes and delivers to the Trustee an Opinion of
Counsel and a supplemental indenture in substantially the form of Exhibit D providing for the guarantee of the payment of the Notes by such Restricted Subsidiary, which guarantee shall be senior to or pari passu with such
Subsidiary’s guarantee of such other Indebtedness (unless such other Indebtedness is subordinated Indebtedness, in which case the guarantee of the payment of the Notes must be senior to the guarantee of such other Indebtedness). 

Section 4.17 Covenant Suspension. 

(a) If the Notes are rated Investment Grade by both Rating Agencies and no Default or Event of Default shall have occurred and then be
continuing (the foregoing conditions being referred to collectively as the “Suspension Condition”), the Company and its Restricted Subsidiaries shall not be subject to Sections 4.07, 4.08, 4.09, 4.10, 4.11, 4.16 and 5.01(4) (collectively,
the “Suspended Covenants”). 
 (b) If the Company and its Restricted Subsidiaries are not subject to the Suspended
Covenants with respect to the Notes as a result of Section 4.17(a) and, subsequently, one or both Rating Agencies withdraw their Investment Grade rating or downgrade the Investment Grade rating assigned to the Notes such that the Notes are no
longer rated Investment Grade by both Rating Agencies (the “Reversion Date”), then the Company and its Restricted Subsidiaries will thereafter again be subject to the Suspended Covenants. Compliance with the Suspended Covenants with
respect to Restricted Payments made after the time of such withdrawal or downgrade will be calculated in accordance with Section 4.07 hereof as if such covenant had been in effect from the date hereof. Notwithstanding that the Suspended
Covenants may be reinstated, no Default or Event of Default will be deemed to have occurred as result of failure to comply with the Suspended Covenants during any period during which such covenants had been suspended. 

(c) The Company shall not be permitted to designate any Material Subsidiary as an Unrestricted Subsidiary while the Suspension Condition
is satisfied, unless the Company could have designated such Material Subsidiary as an Unrestricted Subsidiary in compliance with this Indenture assuming the covenants had not been suspended. 

(d) The Company will deliver to the Trustee written notice each time the Suspension Condition is satisfied and of each Reversion Date,
promptly upon the occurrence thereof but in any event within 10 Business Days after the occurrence thereof. 
  

 60 

 ARTICLE 5 

SUCCESSORS 

Section 5.01 Merger, Consolidation, or Sale of Assets. 

The Company shall not consolidate or merge with or into (whether or not the Company is the surviving corporation), or sell, assign,
transfer, convey or otherwise dispose of all or substantially all of its properties or assets in one or more related transactions to, another Person unless: 

(1) the Company is the surviving corporation or the Person formed by or surviving any such consolidation or merger (if
other than the Company) or to which that sale, assignment, transfer, conveyance or other disposition shall have been made is a corporation, partnership or limited liability company organized or existing under the laws of the United States, any state
thereof or the District of Columbia; provided that if such Person is a limited liability company or partnership, a corporate Wholly Owned Restricted Subsidiary of such Person organized under the laws of the United States, any state thereof or
the District of Columbia becomes a co-issuer of the Notes in connection therewith; 
 (2) the Person formed by or
surviving any such consolidation or merger (if other than the Company) or the Person to which that sale, assignment, transfer, conveyance or other disposition shall have been made assumes all the obligations of the Company under the Registration
Rights Agreement, the Notes and this Indenture pursuant to a supplemental indenture in a form reasonably satisfactory to the Trustee; 

(3) immediately after that transaction no Default or Event of Default exists; 

(4) the Company or the Person formed by or surviving any such consolidation or merger (if other than the Company), or to
which that sale, assignment, transfer, conveyance or other disposition shall have been made 
 (a) shall, at the
time of such transaction and after giving pro forma effect thereto as if that transaction 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 4.09(a) hereof or 
 (b) would, together with its Restricted
Subsidiaries, have a higher Fixed Charge Coverage Ratio immediately after that transaction (after giving pro forma effect thereto as if that transaction had occurred at the beginning of the applicable four-quarter period) than the Fixed Charge
Coverage Ratio of the Company and its Restricted Subsidiaries immediately prior to that transaction. 
 The foregoing
clause (4) shall not prohibit: 
 (a) a merger between the Company and a Restricted Subsidiary; or

 (b) a merger between the Company and an Affiliate incorporated solely for the purpose of reincorporating or
reorganizing the Company in another State of the United States, 
 so long as, in each case, the amount of Indebtedness of the
Company and its Restricted Subsidiaries, taken as a whole, is not increased thereby; and 
  

 61 

 (5) the Company has delivered to the Trustee an Officers’ Certificate
and an Opinion of Counsel each stating that such consolidation, merger, sale, assignment, transfer, conveyance or other disposition and such supplemental indenture comply with this Article and that all conditions precedent herein provided for
relating to such transaction have been complied with. 
 The Company shall not lease all or substantially all of its properties
or assets to any Person in one or more related transactions. 
 Section 5.02 Successor Corporation Substituted. 

Upon any consolidation or merger, or any sale, assignment, transfer, conveyance or other disposition of all or substantially all of the
assets of the Company in accordance with Section 5.01 hereof, the successor corporation formed by such consolidation or into or with which the Company is merged or to which such sale, assignment, transfer, conveyance or other disposition is
made shall succeed to, and be substituted for (so that from and after the date of such consolidation, merger, sale, assignment, conveyance or other disposition, the provisions of this Indenture referring to the “Company” shall refer
instead to the successor corporation and not to the Company), and may exercise every right and power of, the Company under this Indenture with the same effect as if such successor Person had been named as the Company in this Indenture, and the
predecessor company shall be released from its obligations under this Indenture and the Notes. 
 ARTICLE 6 

DEFAULTS 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, or Additional Interest, if any, with respect to, the
Notes; 
 (2) default in the payment when due (at maturity, upon redemption or otherwise) of the principal of, or
premium, if any, on, the Notes; 
 (3) (a) failure by the Company for 60 days after notice to the
Company from the Trustee or from the Holders of at least 25% in aggregate principal amount of the Notes then outstanding to comply with any of its agreements in this Indenture or in the Notes (other than a default specified in subsection (1) or
subsection (2) above and other than a default relating to the Company’s obligations under Section 4.03 hereof) or (b) failure by the Company for 90 days after notice from the Trustee or the Holders of at least 25% in
aggregate principal amount of the Notes then outstanding to comply with Section 4.03 hereof; 
 (4) 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 date of this Indenture, which default: 

(a) is caused by a failure to pay Indebtedness at its stated final maturity (after giving effect to any applicable grace
period provided in that Indebtedness) (a “Payment Default”); or 
  

 62 

 (b) results in the acceleration of that Indebtedness prior to its stated
final 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; 

(5) failure by the Company or any of its Restricted Subsidiaries to pay final judgments entered by a court or courts of
competent jurisdiction aggregating in excess of $50.0 million (net of any amounts with respect to which a reputable and creditworthy insurance company has acknowledged liability in writing), which judgments are not paid, discharged or stayed
for a period of 60 days; 
 (6) the Company or any of its Restricted Subsidiaries that is a Significant
Subsidiary pursuant to or within the meaning of Bankruptcy Law: 
 (A) commences a voluntary case; 

(B) consents to the entry of an order for relief against it in an involuntary case; 

(C) consents to the appointment of a custodian of it or for all or substantially all of its property; 

(D) makes a general assignment for the benefit of its creditors; or 

(E) generally is not paying its debts as they become due; 

(7) a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that: 

(A) is for relief against the Company or any of its Restricted Subsidiaries that is a Significant Subsidiary or any group
of Restricted Subsidiaries of the Company that, taken together, would constitute a Significant Subsidiary in an involuntary case; 

(B) appoints a custodian of the Company or any of its Restricted Subsidiaries that is a Significant Subsidiary or any
group of Restricted Subsidiaries of the Company that, taken together, would constitute a Significant Subsidiary or for all or substantially all of the property of the Company or any of its Restricted Subsidiaries that is a Significant Subsidiary; or

 (C) orders the liquidation of the Company or any of its Restricted Subsidiaries that is a Significant
Subsidiary; 
 and the order or decree remains unstayed and in effect for 60 consecutive days; or 

(8) except as permitted by this Indenture, any Note Guarantee by any Significant Subsidiary shall be held in any judicial
proceeding to be unenforceable or invalid or ceases for any reason to be in full force and effect, or any such Guarantor, or any Person acting on behalf of any Guarantor, denies or disaffirms its obligations under its Note Guarantee. 

 

 63 

 Section 6.02 Acceleration. 

In the case of an Event of Default specified in Section 6.01 (6) or (7), with respect to the Company or any Restricted
Subsidiary of the Company that is a Significant Subsidiary, all outstanding Notes shall become due and payable immediately without further action or notice. If any other Event of Default occurs and is continuing, the Holders of at least 25% in
aggregate principal amount of the Notes then outstanding may declare all the Notes to be due and payable immediately by notice in writing to the Company and the Trustee. Upon any such declaration, the Notes shall become due and payable immediately.

 The Holders of a majority in aggregate principal amount of the Notes then outstanding by written notice to the Trustee may,
on behalf of all of the Holders, rescind an acceleration and its consequences if the rescission would not conflict with any judgment or decree and if all existing Events of Default (except nonpayment of principal, interest or premium or Additional
Interest, if any, that has become due solely because of the acceleration) have been cured or waived; provided that, in the event of a declaration of acceleration of the Notes because an Event of Default has occurred and is continuing as a
result of the acceleration of any Indebtedness described in Section 6.01(4) hereof, the declaration of acceleration of the Notes shall be automatically annulled if the Holders of any Indebtedness described in Section 6.01(4) rescind the
declaration of acceleration in respect of that Indebtedness within 30 days of the date of that declaration and if: 

(1) the annulment of the acceleration of the Notes would not conflict with any judgment or decree of a court of competent
jurisdiction; and 
 (2) all existing Events of Default, except non-payment of principal or interest on the Notes
that became due solely because of the acceleration of the Notes, have been cured or waived. 
 Section 6.03 Other Remedies.

 If an Event of Default occurs and is continuing, the Trustee may pursue any available remedy to collect the payment of
principal, premium and Additional Interest, if any, and interest on the Notes or to enforce the performance of any provision of the Notes or this Indenture. 

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. A
delay or omission by the Trustee or any Holder in exercising any right or remedy accruing upon an Event of Default shall not impair the right or remedy or constitute a waiver of or acquiescence in the Event of Default. All remedies are cumulative to
the extent permitted by law. 
 Section 6.04 Waiver of Past Defaults. 

Holders of a majority in aggregate principal amount of the Notes then outstanding by notice to the Trustee may on behalf of the Holders of
all of the Notes waive an existing Default or Event of Default and its consequences hereunder, except a continuing Default or Event of Default in the payment of the principal of, premium and Additional Interest, if any, or interest on, the Notes
(including in connection with an offer to purchase); provided, however, that the Holders of a majority in aggregate principal amount of the then outstanding Notes may rescind an acceleration and its consequences, including any related payment
default that resulted from such acceleration. Upon any such waiver, such Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured for every 

 

 64 

 
purpose of this Indenture; but no such waiver shall extend to any subsequent or other Default or impair any right consequent thereon. 

Section 6.05 Control by Majority. 

Holders of a majority in aggregate principal amount of the then outstanding Notes may 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 it. However, the Trustee may refuse to follow any direction that conflicts with law or this Indenture that the Trustee determines may be
unduly prejudicial to the rights of other Holders or that may involve the Trustee in personal liability. 
 Section 6.06 Limitation on
Suits. 
 A Holder may pursue a remedy with respect to this Indenture or the Notes only if: 

(1) such Holder gives to the Trustee written notice that an Event of Default is continuing; 

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

(5) during such 60-day period, Holders of a majority in aggregate principal amount of the then outstanding Notes do not
give the Trustee a direction inconsistent with such request. 
 A Holder may not use this Indenture to prejudice the rights of
another Holder or to obtain a preference or priority over another Holder. 
 Section 6.07 Rights of Holders to Receive Payment. 

 Notwithstanding any other provision of this Indenture, the right of any Holder to receive payment of principal, premium and
Additional Interest, if any, and interest on the Note, on or after the respective due dates expressed in the Note (including in connection with an offer to purchase), or to bring suit for the enforcement of any such payment on or after such
respective dates, shall not be impaired or affected without the consent of such Holder. 
 Section 6.08 Collection Suit by Trustee. 

 If an Event of Default specified in Section 6.01(1) or (2) occurs and is continuing, the Trustee is authorized to
recover judgment in its own name and as trustee of an express trust against the Company for the whole amount of principal of, premium and Additional Interest, if any, and interest remaining unpaid on, the Notes and interest on overdue principal and,
to the extent lawful, interest and such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel.

  

 65 

 Section 6.09 Trustee May File Proofs of Claim. 

The Trustee is authorized to file such 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 reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel) and the Holders allowed in any judicial proceedings relative to the Company (or any other
obligor upon the Notes), its creditors or its property and shall be entitled and empowered to collect, receive and distribute any money or other property payable or deliverable on any such claims and any custodian in any such judicial proceeding is
hereby authorized by each Holder to make such payments to the Trustee, and in the event that the Trustee shall consent 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 agents and counsel, and any other amounts due the Trustee under Section 7.07 hereof. To the extent that the payment of any such compensation, expenses, disbursements and
advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 7.07 hereof out of the estate in any such proceeding, shall be denied for any reason, payment of the same shall be secured by a Lien on, and
shall be paid out of, any and all distributions, dividends, money, securities and other properties that the Holders may be entitled to receive in such proceeding whether in liquidation or under any plan of reorganization or arrangement or otherwise.
Nothing herein contained shall be deemed to authorize 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, or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding. 
 Section 6.10 Priorities.

 If the Trustee collects any money pursuant to this Article 6, it shall pay out such money, and any money or other
property distributable in respect of the Company’s obligations under this Indenture after the occurrence of an Event of Default, in the following order: 

First: to the Trustee (including any predecessor Trustee), its agents and attorneys for amounts due under
Section 7.07 hereof, including payment of all compensation, expenses and liabilities incurred, and all advances made, by the Trustee and the costs and expenses of collection; 

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

Third: to the Company or to such party as a court of competent jurisdiction shall direct. 

The Trustee may fix a record date and payment date for any payment to Holders pursuant to this Section 6.10. 

Section 6.11 Undertaking for Costs. 

In any suit for the enforcement of any right or remedy under this Indenture or in any suit against the Trustee for any action taken or
omitted by it as a Trustee, a court in its discretion may require the filing by any party litigant in the suit of an undertaking to pay the costs of the suit, and the court in its discretion may assess reasonable costs, including reasonable
attorneys’ fees and expenses, against any party litigant in the suit, having due regard to the merits and good faith of the claims or defenses made by the party litigant. This Section 6.11 does not apply to a suit by the Trustee, a suit by
a Holder pursuant to 
  

 66 

 
Section 6.07 hereof, or a suit by Holders of more than 10% in aggregate principal amount of the then outstanding Notes. 

ARTICLE 7 

TRUSTEE 

Section 7.01 Duties of Trustee. 

(a) If an Event of Default has occurred and is continuing, the Trustee will exercise such of the rights and powers vested in it by this
Indenture, and use the same degree of care and skill in its exercise, as a prudent person would exercise or use under the circumstances in the conduct of such person’s own affairs. 

(b) Except during the continuance of an Event of Default: 

(1) the duties of the Trustee will be determined solely by the express provisions of this Indenture and the Trustee need
perform only those duties that are specifically set forth in this Indenture and no others, and no implied covenants or obligations shall be read into this Indenture against the Trustee; and 

(2) in the absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the statements and the
correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture. However, in the case of any such certificates or opinions which by any provision hereof are
specifically required to be furnished to the Trustee, the Trustee will examine the certificates and opinions to determine whether or not they conform to the requirements of this Indenture. 

(c) The Trustee may not be relieved from liabilities for its own negligent action, its own negligent failure to act, or its own willful
misconduct, except that: 
 (1) this paragraph does not limit the effect of paragraphs (b) or (e) of
this Section 7.01; 
 (2) the Trustee will not be liable for any error of judgment made in good faith by a
Responsible Officer, unless it is proved that the Trustee was negligent in ascertaining the pertinent facts; and 

(3) the Trustee will not be liable with respect to any action it takes or omits to take in good faith in accordance with a
direction received by it pursuant to Section 6.05 hereof. 
 (d) Whether or not therein expressly so provided, every
provision of this Indenture that in any way relates to the Trustee is subject to paragraphs (a), (b), (c) and (e) of this Section 7.01. 

(e) No provision of this Indenture will require the Trustee to expend or risk its own funds or incur any liability. The Trustee will be
under no obligation to exercise any of its rights and powers under this Indenture at the request of any Holders, unless such Holder has offered to the Trustee security and indemnity satisfactory to it against any loss, liability or expense.

 (f) The Trustee will not be liable for interest on any money received by it except as the Trustee may agree in writing with
the Company. Money held in trust by the Trustee need not be segregated from other funds except to the extent required by law. 
  

 67 

 Section 7.02 Rights of Trustee. 

(a) The Trustee may conclusively rely and shall be fully protected in acting or refraining from acting upon any 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. 

(b) Before the Trustee acts or refrains from acting, it may require an Officers’ Certificate or an Opinion of Counsel or both. The
Trustee will not be liable for any action it takes or omits to take in good faith in reliance on such Officers’ Certificate or Opinion of Counsel. The Trustee may consult with counsel and the advice of such counsel or any Opinion of Counsel
will be full and complete authorization and protection from liability in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon. 

(c) The Trustee may act through its attorneys and agents and will not be responsible for the misconduct or negligence of any agent
appointed with due care. 
 (d) The Trustee will not be liable for any action it takes, suffers, or omits to take in good faith
that it believes to be authorized or within the discretion or rights or powers conferred upon it by this Indenture. 
 (e)
Unless otherwise specifically provided in this Indenture, any demand, request, direction or notice from the Company will be sufficient if signed by an Officer of the Company and any resolution of the Board of Directors will be sufficient if
certified by the secretary or an Assistant Secretary of the Company to have been duly adopted by the Board of Directors and to be in full force and effect on the date of such certification, and in each case, delivered to the Trustee. 

(f) The Trustee will be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request or
direction of any of the Holders unless such Holders have offered to the Trustee indemnity or security satisfactory to the Trustee against the losses, liabilities and expenses that might be incurred by it in compliance with such request or direction.

 (g) The Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate,
statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document, but the Trustee, in its discretion, may make such further inquiry or investigation
into such facts or matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled to examine the books, records and premises of the Company, personally or by agent or attorney at
the sole cost of the Company and shall incur no liability or additional liability of any kind by reason of such inquiry or investigation. 

(h) The Trustee shall not be deemed to have notice or be charged with knowledge of any Default or Event of Default unless a Responsible
Officer of the Trustee has received written notice from the Company or any Holder of any such Default or Event of Default at the Corporate Trust Office of the Trustee, and such notice references the Notes and this Indenture. 

(i) The rights, privileges, protections, immunities and benefits given to the Trustee, including, without limitation, its right to be
indemnified, are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder, and each agent, custodian and other Person employed to act hereunder. 

(j) The Trustee may request that the Company deliver an Officers’ Certificate setting forth the names of individuals and/or titles
of officers authorized at such time to take specified actions pursuant to 
  

 68 

 
this Indenture, which Officers’ Certificate may be signed by any person authorized to sign an Officers’ Certificate, including any person specified as so authorized in any such
certificate previously delivered and not superseded. 
 (k) Anything in this Indenture notwithstanding, in no event shall the
Trustee be liable for special, indirect, punitive or consequential loss or damage of any kind whatsoever (including but not limited to loss of profit), even if the Trustee has been advised as to the likelihood of such loss or damage and regardless
of the form of action. 
 (l) The Trustee shall not be responsible or liable for any failure or delay in the performance of its
obligations under this Indenture arising out of or caused, directly or indirectly, by circumstances beyond its reasonable control, including, without limitation, acts of God; earthquakes; fire; flood; terrorism; wars and other military disturbances;
sabotage; epidemics; riots; interruptions; loss or malfunctions of utilities, computer (hardware or software) or communication services; accidents; labor disputes; acts of civil or military authority and governmental action. 

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
any Affiliate of the Company with the same rights it would have if it were not Trustee. However, in the event that the Trustee acquires any conflicting interest it must eliminate such conflict within 90 days, apply to the SEC for permission to
continue as trustee (if this Indenture has been qualified under the TIA) or resign. Any Agent may do the same with like rights and duties. The Trustee is also subject to Sections 7.10 and 7.11 hereof. 

Section 7.04 Trustee’s Disclaimer. 

The Trustee will not be responsible for and makes no representation as to the validity or adequacy of this Indenture or the Notes, it
shall not be accountable for the Company’s use of the proceeds from the Notes or any money paid to the Company or upon the Company’s direction under any provision of this Indenture, it will not be responsible for the use or application of
any money received by any Paying Agent other than the Trustee, and it will not be responsible for any statement or recital herein or any statement in the Notes or any other document in connection with the sale of the Notes or pursuant to this
Indenture other than its certificate of authentication. 
 Section 7.05 Notice of Defaults. 

If a Default or Event of Default occurs and is continuing and if it is actually known to a Responsible Officer of the Trustee, the Trustee
will mail to Holders a notice of the Default or Event of Default within 90 days after it occurs. Except in the case of a Default or Event of Default in payment of principal of, premium or Additional Interest, if any, or interest on, any Note,
the Trustee may withhold the notice if and so long as a committee of its Responsible Officers in good faith determines that withholding the notice is in the interests of the Holders. 

Section 7.06 Reports by Trustee to Holders. 

(a) Within 60 days after each March 15 beginning with the March 15 following the date of this Indenture, and for so long as
Notes remain outstanding, the Trustee will mail to the Holders a brief report dated as of such reporting date that complies with TIA §313(a) (but if no event described in TIA §313(a) has occurred within the twelve months preceding the
reporting date, no report need be transmitted). The 
  

 69 

 
Trustee also will comply with TIA §313(b)(2). The Trustee will also transmit by mail all reports as required by TIA §313(c). 

(b) A copy of each report at the time of its mailing to the Holders will be mailed by the Trustee to the Company and filed by the Trustee
with the SEC and each stock exchange on which the Notes are listed in accordance with TIA §313(d). The Company will promptly notify the Trustee when the Notes are listed on any stock exchange. 

Section 7.07 Compensation and Indemnity. 

(a) The Company will pay to the Trustee from time to time compensation for its acceptance of this Indenture and services hereunder as
separately agreed by the Company and the Trustee. The Trustee’s compensation will not be limited by any law on compensation of a trustee of an express trust. The Company will reimburse the Trustee promptly upon request for all reasonable
disbursements, advances and expenses incurred or made by it in addition to the compensation for its services. Such expenses will include the compensation, disbursements and expenses of the Trustee’s agents and counsel. 

(b) The Company and the Guarantors will indemnify the Trustee or any predecessor Trustee and their officers, agents, directors and
employees against any and all losses, damages, claims liabilities or expenses including taxes (other than taxes based upon, measured by or determined by the income of the Trustee) incurred by it arising out of or in connection with the acceptance or
administration of its duties under this Indenture, including the costs and expenses of enforcing this Indenture against the Company and the Guarantors (including this Section 7.07) and defending itself against any claim (whether asserted by the
Company, the Guarantors, any Holder or any other Person) or liability in connection with the exercise or performance of any of its powers or duties hereunder, or in connection with enforcing the provisions of this Section, except to the extent any
such loss, liability or expense is determined by a court of competent jurisdiction to have been caused by its gross negligence or willful misconduct. The Trustee will notify the Company promptly of any claim for which it may seek indemnity. Failure
by the Trustee to so notify the Company will not relieve the Company or any of the Guarantors of their obligations hereunder. The Company or such Guarantor will defend the claim and the Trustee will cooperate in the defense. The Trustee may have
separate counsel and the Company will pay the reasonable fees and expenses of such counsel. Neither the Company nor any Guarantor need pay for any settlement made without its consent, which consent will not be unreasonably withheld. 

(c) The obligations of the Company and the Guarantors under this Section 7.07 will survive the satisfaction and discharge of the
Notes, the termination for any reason of this Indenture or the resignation or removal of the Trustee. 
 (d) To secure the
Company’s and the Guarantors’ payment obligations in this Section 7.07, the Trustee will have a Lien prior to the Notes on all money or property held or collected by the Trustee, except that held in trust to pay principal and interest
on particular Notes. Such Lien will survive the satisfaction and discharge of this Indenture. 
 (e) In addition to and without
prejudice to its other rights hereunder, when the Trustee incurs expenses or renders services after an Event of Default specified in Section 6.01(7) or (8) hereof occurs, the expenses and the compensation for the services (including the
fees and expenses of its agents and counsel) are intended to constitute expenses of administration under any Bankruptcy Law. 

(f) The Trustee will comply with the provisions of TIA §313(b)(2) to the extent applicable. 

 

 70 

 “Trustee” for purposes of this Section shall include any predecessor Trustee;
provided, however, that the negligence, willful misconduct or bad faith of any Trustee hereunder shall not affect the rights of any other Trustee hereunder. 

Section 7.08 Replacement of Trustee. 

(a) 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 7.08. 
 (b) The Trustee may resign in writing at any
time and be discharged from the trust hereby created by so notifying the Company. The Holders of a majority in aggregate principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Company in writing.
The Company may remove the Trustee if: 
 (1) the Trustee fails to comply with Section 7.10 hereof;

 (2) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the
Trustee under any Bankruptcy Law; 
 (3) a custodian or public officer takes charge of the Trustee or its
property; or 
 (4) the Trustee becomes incapable of acting. 

(c) 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. Within one year after the successor Trustee takes office, the Holders of a majority in aggregate principal amount of the then outstanding Notes may appoint a successor Trustee to replace the successor Trustee appointed
by the Company. 
 (d) If a successor Trustee does not take office within 30 days after the retiring Trustee resigns or is
removed, the retiring Trustee, the Company, or the Holders of at least 10% in aggregate principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. 

(e) If the Trustee, after written request by any Holder who has been a Holder for at least six months, fails to comply with
Section 7.10 hereof, such Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. 

(f) A successor Trustee will deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon, the
resignation or removal of the retiring Trustee will become effective, and the successor Trustee will have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee, at the Company’s expense, will mail a notice
of its succession to Holders. The retiring Trustee will promptly transfer all property held by it as Trustee to the successor Trustee; provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in
Section 7.07 hereof. 
 Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Company’s obligations and
the Lien provided for under Section 7.07 hereof will continue for the benefit of the retiring Trustee. 
  

 71 

 Section 7.09 Successor Trustee by Merger, etc. 

If the Trustee consolidates, merges or converts into, or transfers all or substantially all of its corporate trust business to, another
Person, the successor Person without any further act will be the successor Trustee. 
 Section 7.10 Eligibility; Disqualification. 

 There will at all times be a Trustee hereunder that is a corporation organized and doing business under the laws of the United
States of America or of any state thereof that is authorized under such laws to exercise corporate trustee power, that is subject to supervision or examination by federal or state authorities and that has a combined capital and surplus of at least
$50.0 million as set forth in its most recent published annual report of condition. 
 This Indenture will always have a
Trustee who satisfies the requirements of TIA §310(a)(1), (2) and (5). The Trustee is subject to TIA §310(b). 

For purposes of TIA §310(b)(1) and to the extent permitted thereby, the Trustee, in its capacity as Trustee in respect of the Notes,
shall not be deemed to have a conflicting interest arising from its capacity as trustee in respect of any other indenture in respect of which the Company is an obligor. Nothing herein shall be deemed to prevent the Trustee from making the
application referred to in the penultimate sentence of TIA §310(b). 
 Section 7.11 Preferential Collection of Claims Against
Company. 
 The Trustee is subject to TIA §311(a), excluding any creditor relationship listed in TIA §311(b). A
Trustee who has resigned or been removed shall be subject to TIA §311(a) to the extent indicated therein. 
 ARTICLE 8

 LEGAL DEFEASANCE AND COVENANT DEFEASANCE 

Section 8.01 Option to Effect Legal Defeasance or Covenant Defeasance. 

The Company may at any time, at the option of its Board of Directors evidenced by a resolution set forth in an Officers’ Certificate,
elect to have either Section 8.02 or 8.03 hereof be applied to all outstanding Notes, Note Guarantees and this Indenture upon compliance with the conditions set forth below in this Article 8. 

Section 8.02 Legal Defeasance and Discharge. 

Upon the Company’s exercise under Section 8.01 hereof of the option applicable to this Section 8.02, the Company and each
of the Guarantors shall, subject to the satisfaction of the conditions set forth in Section 8.04 hereof, be deemed to have been discharged from their obligations with respect to all outstanding Notes (including the Note Guarantees) on the date
the conditions set forth below are satisfied (hereinafter, “Legal Defeasance”). For this purpose, Legal Defeasance means that the Company and the Guarantors will be deemed to have paid and discharged the entire Indebtedness represented by
the outstanding Notes (including the Note Guarantees), which shall thereafter be deemed to be “outstanding” only for the purposes of Section 8.05 hereof and the other Sections of this Indenture referred to in clauses (1) and
(2) below, and to have satisfied all their other obligations under such Notes, the Note Guarantees and this Indenture (and the Trustee, on demand of and at the expense of the Company, shall

  

 72 

 
execute proper instruments acknowledging the same), except for the following provisions which will survive until otherwise terminated or discharged hereunder: 

(1) the rights of Holders of outstanding Notes to receive payments in respect of the principal of, premium, if any, and
interest and Additional Interest, if any, on, such Notes when such payments are due from the trust referred to in Section 8.04 hereof; 

(2) the Company’s obligations with respect to such Notes under Article 2 and Section 4.02 hereof;

 (3) the rights, powers, trusts, duties and immunities of the Trustee hereunder and the Company’s and the
Guarantors’ obligations in connection therewith; and 
 (4) 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 hereof. 
 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 will, subject to the satisfaction of the conditions set forth in Section 8.04 hereof, be released from each of their obligations under the covenants contained in Sections 4.03, 4.04, 4.05, 4.07, 4.08, 4.09, 4.10, 4.11,
4.12, 4.13, 4.15 and 4.16 hereof and Sections 5.01(3) and (4) hereof with respect to the outstanding Notes on and after the date the conditions set forth in Section 8.04 hereof are satisfied and the Note Guarantees will be released
(hereinafter, “Covenant Defeasance”), and the Notes will 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 will continue to be deemed “outstanding” for all other purposes hereunder (it being understood that such Notes will not be deemed outstanding for accounting purposes). For this purpose, Covenant
Defeasance means that, with respect to the outstanding Notes and Note Guarantees, the Company and the Guarantors may omit to comply with and will 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 will not
constitute a Default or an Event of Default under Section 6.01 hereof, but, except as specified above, the remainder of this Indenture and such Notes and Note Guarantees will be unaffected thereby. In addition, upon the Company’s exercise
under Section 8.01 hereof of the option applicable to this Section 8.03, subject to the satisfaction of the conditions set forth in Section 8.04 hereof, Sections 6.01(3) through 6.01(6) and Section 6.01(9) hereof will not
constitute Events of Default. 
 Section 8.04 Conditions to Legal or Covenant Defeasance. 

In order to exercise either Legal Defeasance or Covenant Defeasance under either Section 8.02 or 8.03 hereof: 

(1) the Company must irrevocably deposit with the Trustee, in trust, 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, in the opinion of a nationally recognized investment bank, appraisal firm, firm of independent public accountants or similar entity, to pay the
principal of, premium and Additional Interest, if any, and interest on, the outstanding Notes on the Stated 
  

 73 

 
Maturity or on the applicable redemption date, as the case may be, and the Company must specify whether the Notes are being defeased to maturity or to a particular redemption date; 

(2) in the case of an election under Section 8.02 hereof, the Company shall deliver to the Trustee an Opinion of
Counsel in the United States confirming that: 
 (A) the Company has received from, or there has been published
by, the Internal Revenue Service a ruling; or 
 (B) since the date of this Indenture, there has been a change in
the applicable federal income tax law, 
 in either case to the effect that, and based thereon such Opinion of Counsel shall
confirm that, subject to customary assumptions and exclusions, the Holders of the outstanding Notes will not recognize income, gain or loss for federal income tax purposes as a result of such Legal Defeasance and will be subject to 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; 

(3) in the case of an election under Section 8.03 hereof, the Company shall deliver to the Trustee an Opinion of
Counsel in the United States confirming that, subject to customary assumptions and exclusions, the Holders of the outstanding Notes will not recognize income, gain or loss for federal income tax purposes as a result of such Covenant Defeasance and
will be subject to 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; 

(4) no Default or Event of Default shall have occurred and be continuing on the date of such deposit (other than a Default
or Event of Default resulting from the borrowing of funds to be applied to such deposit) or, insofar as Events of Default from bankruptcy or insolvency events are concerned, at any time in the period ending on the 123rd day after the date of
deposit; 
 (5) such Legal Defeasance or Covenant Defeasance will not result in a breach or violation of, or
constitute a default under, any material agreement or instrument (other than this 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; 

(6) the Company shall have delivered to the Trustee an opinion of counsel to the effect that, subject to customary
assumptions and exclusions, after the 123rd day following the deposit, the trust funds will not be subject to the effect of Section 547 of the United States Bankruptcy Code or Section 15 of the New York Debtor and Creditor Law; 

(7) the Company shall deliver to the Trustee an Officers’ Certificate stating that the deposit was not made by the
Company with the intent of preferring the Holders over the other creditors of the Company with the intent of defeating, hindering, delaying or defrauding any creditors of the Company or others; and 

(8) the Company shall deliver to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that
all conditions precedent relating to the Legal Defeasance or the Covenant Defeasance have been complied with. 
  

 74 

 Section 8.05 Deposited Money and Government Securities to be Held in Trust; Other Miscellaneous
Provisions. 
 Subject to Section 8.06 hereof, all money and non-callable Government Securities (including the proceeds
thereof) deposited with the Trustee (or other qualifying trustee, collectively for purposes of this Section 8.05, the “Trustee”) pursuant to Section 8.04 hereof in respect of the outstanding Notes will 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 and Additional Interest, if any, and interest, but such money need not be segregated from other funds except to the extent required by law. 

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 Government Securities deposited pursuant to Section 8.04 hereof 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. 
 Notwithstanding anything in this Article 8 to the contrary, the Trustee shall deliver or pay to the
Company from time to time upon the request of the Company any money or non-callable Government Securities held by it as provided in Section 8.04 hereof 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(1) 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 8.06 Repayment to Company. 

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 or Additional Interest, if any, or interest on, any Note and remaining unclaimed for two years after such principal, premium or Additional Interest, if any, or interest has become due and payable shall be paid to the Company on its request
or (if then held by the Company) will be discharged from such trust; and the Holder of such Note will thereafter be permitted to 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, will 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 will not be less than 30 days from the date of such notification or
publication, any unclaimed balance of such money then remaining will be repaid to the Company. 
 Section 8.07 Reinstatement.

 If the Trustee or Paying Agent is unable to apply any U.S. dollars or non-callable Government Securities in accordance
with Section 8.02 or 8.03 hereof, 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 and the Guarantors’
obligations under this Indenture and the Notes and the Note Guarantees will be revived and reinstated as though no deposit had occurred pursuant to Section 8.02 or 8.03 hereof until such time as the Trustee or Paying Agent is permitted to apply
all such money in accordance with Section 8.02 or 8.03 hereof, as the case may be; provided, however, that, if the Company makes any payment of principal of, premium or Additional Interest, if any, or interest on, any

  

 75 

 
Note following the reinstatement of its obligations, the Company will 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. 
 ARTICLE 9 

AMENDMENT, SUPPLEMENT AND WAIVER 

Section 9.01 Without Consent of Holders. 

Notwithstanding Section 9.02 of this Indenture, the Company, the Guarantors and the Trustee may amend or supplement this Indenture or
the Notes or the Note Guarantees without the consent of any Holder: 
 (1) to cure any ambiguity, defect or
inconsistency; 
 (2) to provide for uncertificated Notes in addition to or in place of certificated Notes;

 (3) to provide for the assumption of the Company’s obligations to Holders, in the case of a merger or
consolidation or sale of all or substantially all of the assets of the Company, or to provide for the assumption of any Guarantor’s obligations under its Note Guarantee, in the case of a merger or consolidation of such Guarantor; 

(4) to make any change that would provide any additional rights or benefits to the Holders or that does not, in the good
faith judgment of the Company’s Board of Directors, materially adversely affect the legal rights hereunder of any such Holder; 

(5) to comply with requirements of the SEC in order to effect or maintain the qualification of this Indenture under the
TIA; 
 (6) to provide for the issuance of Additional Notes in accordance with this Indenture; 

(7) to provide for additional Note Guarantees; 

(8) to evidence and provide for the acceptance and appointment under this Indenture of a successor trustee thereunder
pursuant to the requirements hereof; 
 (9) to provide for the issuance of Exchange Notes or private exchange
notes, which are identical to Exchange Notes except that they are not freely transferable; 
 (10) to make any
amendment to the provisions of this Indenture relating to the transfer and legending of Notes as permitted by this Indenture, including, without limitation to facilitate the issuance and administration of the Notes; provided, however, that
(i) compliance with this Indenture as so amended would not result in Notes being transferred in violation of the Securities Act or any applicable securities law and (ii) such amendment does not materially and adversely affect the rights of
Holders to transfer Notes; or 
 (11) to conform the text of this Indenture, the Note Guarantees or the Notes to
any provision of the “Description of Notes” section of the Offering Memorandum. 
 Upon the request of the Company
accompanied by a resolution of its Board of Directors authorizing the execution of any such amended or supplemental indenture, and upon receipt by the Trustee of the documents described in Section 7.02 hereof, the Trustee will join with the
Company and 
  

 76 

 
the Guarantors in the execution of any amended or supplemental indenture authorized or permitted by the terms of this Indenture and to make any further appropriate agreements and stipulations
that may be therein contained, but the Trustee will not be obligated to enter into such amended or supplemental indenture that affects its own rights, duties or immunities under this Indenture or otherwise. 

After an amendment, supplement or waiver under this Section 9.01 becomes effective, the Company will mail to the Holders affected
thereby a notice briefly describing the amendment, supplement or waiver. Any failure of the Company to mail such notice, or any defect therein, will not, however, in any way impair or affect the validity of any such amended or supplemental indenture
or waiver. 
 Section 9.02 With Consent of Holders. 

Except as provided below in this Section 9.02, the Company and the Trustee may amend or supplement this Indenture (including, without
limitation, Sections 3.09, 4.10 and 4.15 hereof) and the Notes and the Note Guarantees with the consent of the Holders of at least a majority in aggregate principal amount of the then outstanding Notes voting as a single class (including,
without limitation, consents obtained in connection with a tender offer or exchange offer for, or purchase of, the Notes), and, subject to Sections 6.04 and 6.07 hereof, any existing Default or Event of Default (other than a Default or Event of
Default in the payment of the principal of, premium or Additional Interest, if any, or interest on, the Notes, except a payment default resulting from an acceleration that has been rescinded) 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 voting as a single class (including, without limitation, consents obtained in connection with a
tender offer or exchange offer for, or purchase of, the Notes). Section 2.08 hereof shall determine which Notes are considered to be “outstanding” for purposes of this Section 9.02. 

Without the consent of each Holder affected, an amendment, supplement or waiver under this Section 9.02 may not (with respect to any
Notes held by a non-consenting Holder): 
 (1) reduce the principal amount of Notes whose Holders must consent to
an amendment, supplement or waiver; 
 (2) reduce the principal or change the fixed maturity of any Note or alter
the provisions with respect to the redemption of the Notes (except as provided above with respect to Sections 3.09, 4.10 and 4.15 hereof); 

(3) reduce the rate of or extend the time for payment of interest, on any Note; 

(4) waive a Default or Event of Default in the payment of principal of, or premium, if any, or interest or Additional
Interest, if any, 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); 
 (5) make any Note payable in money other than that stated in the Notes; 

(6) make any change in the provisions of this Indenture relating to waivers of past Defaults; 

(7) waive a redemption payment with respect to any Note (other than a payment required by Sections 3.09, 4.10 or 4.15
hereof); 
  

 77 

 (8) amend, change or modify 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 4.15 hereof after such Change of Control has occurred, including, in each case, amending, changing or modifying any definition relating thereto;

 (9) release any Guarantor that is a Significant Subsidiary from any of its obligations under its Note
Guarantee or this Indenture, except in accordance with the terms of this Indenture; or 
 (10) make any change in
the foregoing amendment and waiver provisions. 
 Upon the request of the Company accompanied by a resolution of its Board of
Directors authorizing the execution of any such amended or supplemental indenture, and upon the filing with the Trustee of evidence satisfactory to the Trustee of the consent of the Holders as aforesaid, and upon receipt by the Trustee of the
documents described in Section 7.02 hereof, the Trustee will join with the Company and the Guarantors in the execution of such amended or supplemental indenture unless such amended or supplemental indenture directly affects the Trustee’s
own rights, duties or immunities under this Indenture or otherwise, in which case the Trustee may in its discretion, but will not be obligated to, enter into such amended or supplemental indenture. 

It is not necessary for the consent of the Holders under this Section 9.02 to approve the particular form of any proposed amendment,
supplement or waiver, but it is sufficient if such consent approves the substance thereof. 
 After an amendment, supplement or
waiver under this Section 9.02 becomes effective, the Company will mail to the Holders affected thereby a notice briefly describing the amendment, supplement or waiver. Any failure of the Company to mail such notice, or any defect therein, will
not, however, in any way impair or affect the validity of any such amended or supplemental indenture or waiver. 
 Section 9.03
Compliance with Trust Indenture Act. 
 Every amendment or supplement to this Indenture or the Notes will be set forth in an
amended or supplemental indenture that complies with the TIA 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 is a continuing consent by the Holder
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 or subsequent Holder may revoke the
consent as to its Note if the Trustee receives written notice of revocation before the date the amendment, supplement or waiver becomes effective. An amendment, supplement or waiver becomes effective in accordance with its terms and thereafter binds
every Holder unless it is of the type requiring the consent of each Holder affected. If the amendment, supplement or waiver is of the type requiring the consent of each Holder affected, the amendment, supplement or waiver will bind each Holder that
has consented to it and every subsequent Holder of a Note that evidences the same debt as the Note of the consenting Holder. 
  

 78 

 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 an Authentication Order, authenticate new Notes that reflect the amendment, supplement or waiver. 

Failure to make the appropriate notation or issue a new Note will not affect the validity and effect of such amendment, supplement or
waiver. 
 Section 9.06 Trustee to Sign Amendments, etc. 

The Trustee will sign any amended or supplemental indenture authorized pursuant to this Article 9 if the amendment or supplement does
not affect the rights, duties, liabilities or immunities of the Trustee. The Company may not sign an amended or supplemental indenture until the Board of Directors of the Company approves it. In executing any amended or supplemental indenture, the
Trustee will be entitled to receive and (subject to Section 7.01 hereof) will be fully protected in relying upon, in addition to the documents required by Section 13.04 hereof, an Officers’ Certificate and an Opinion of Counsel
stating that the execution of such amended or supplemental indenture is authorized or permitted by this Indenture. 
 ARTICLE
10 
 [RESERVED] 

ARTICLE 11 

NOTE GUARANTEES 

Section 11.01 Guarantee. 

(a) Subject to this Article 11, each of the Guarantors hereby, jointly and severally, unconditionally guarantees to each Holder of a
Note authenticated and delivered by the Trustee and to the Trustee and its successors and assigns, irrespective of the validity and enforceability of this Indenture, the Notes or the obligations of the Company hereunder or thereunder, that:

 (1) the principal of, premium and Additional Interest, if any, and interest on, the Notes will be promptly
paid in full when due, whether at maturity, by acceleration, redemption or otherwise, and interest on the overdue principal of and interest on the Notes, if any, if lawful, and all other obligations of the Company to the Holders or the Trustee
hereunder or thereunder will be promptly paid in full or performed, all in accordance with the terms hereof and thereof; and 

(2) in case of any extension of time of payment or renewal of any Notes or any of such other obligations, that same will
be promptly paid in full when due or performed in accordance with the terms of the extension or renewal, whether at stated maturity, by acceleration or otherwise. 

Failing payment when due of any amount so guaranteed or any performance so guaranteed for whatever reason, the Guarantors shall be
jointly and severally obligated to pay the same immediately. Each Guarantor agrees that this is a guarantee of payment and not a guarantee of collection. 

(b) The Guarantors hereby agree that their obligations hereunder are unconditional, irrespective of the validity, regularity or
enforceability of the Notes or this Indenture, the absence of any action to 
  

 79 

 
enforce the same, any waiver or consent by any Holder with respect to any provisions hereof or thereof, the recovery of any judgment against the Company, any action to enforce the same or any
other circumstance which might otherwise constitute a legal or equitable discharge or defense of a Guarantor. Each Guarantor hereby waives diligence, presentment, demand of payment, filing of claims with a court in the event of insolvency or
bankruptcy of the Company, any right to require a proceeding first against the Company, protest, notice and all demands whatsoever and covenant that this Note Guarantee will not be discharged except by complete performance of the obligations
contained in the Notes and this Indenture. 
 (c) If any Holder or the Trustee is required by any court or otherwise to return
to the Company, the Guarantors or any custodian, trustee, liquidator or other similar official acting in relation to either the Company or the Guarantors, any amount paid by either to the Trustee or such Holder, this Note Guarantee, to the extent
theretofore discharged, will be reinstated in full force and effect. 
 (d) Each Guarantor agrees that it will not be entitled
to any right of subrogation in relation to the Holders in respect of any obligations guaranteed hereby until payment in full of all obligations guaranteed hereby. Each Guarantor further agrees that, as between the Guarantors, on the one hand, and
the Holders and the Trustee, on the other hand, (1) the maturity of the obligations guaranteed hereby may be accelerated as provided in Article 6 hereof for the purposes of this Note Guarantee, notwithstanding any stay, injunction or other
prohibition preventing such acceleration in respect of the obligations guaranteed hereby, and (2) in the event of any declaration of acceleration of such obligations as provided in Article 6 hereof, such obligations (whether or not due and
payable) will forthwith become due and payable by the Guarantors for the purpose of this Note Guarantee. The Guarantors will have the right to seek contribution from any non-paying Guarantor so long as the exercise of such right does not impair the
rights of the Holders under the Note Guarantee. 
 Section 11.02 [Reserved]. 

Section 11.03 Limitation on Guarantor Liability. 

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 transfer or conveyance for purposes of Bankruptcy Law, the Uniform Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any similar federal or state law to the extent applicable to
any Note Guarantee. To effectuate the foregoing intention, the Trustee, the Holders and the Guarantors hereby irrevocably agree that the obligations of such Guarantor will be limited to the maximum amount that will, after giving effect to such
maximum amount and all other contingent and fixed liabilities of such Guarantor that are relevant under such laws, and after giving effect to any collections from, rights to receive contribution from or payments made by or on behalf of any other
Guarantor in respect of the obligations of such other Guarantor under this Article 11, result in the obligations of such Guarantor under its Note Guarantee not constituting a fraudulent transfer or conveyance. 

 

 80 

 Section 11.04 [Reserved]. 

Section 11.05 Guarantors May Consolidate, etc., on Certain Terms. 

Except as otherwise provided in Section 5.01 hereof and this Section 11.05, no Guarantor may consolidate with or merge with or
into another Person, whether or not such Guarantor is the surviving Person, unless: 
 (1) either
(a) subject to Section 11.06 hereof, the Person formed by or surviving any such consolidation or merger, if other than the Company or the Guarantor, unconditionally assumes all the obligations of that Guarantor under this Indenture and its
Note Guarantee and the Registration Rights Agreement on the terms set forth herein or therein, pursuant to a supplemental indenture in form reasonably satisfactory to the Trustee; or (b) such consolidation or merger complies with
Section 4.10 hereof; and 
 (2) immediately after giving effect to such transaction, no Default or Event of
Default exists. 
 In case of any such consolidation or merger and upon the assumption by the successor Person, by supplemental
indenture, executed and delivered to the Trustee and satisfactory in form to the Trustee and the due and punctual performance of all of the covenants and conditions of this Indenture to be performed by the Guarantor, such successor Person will
succeed to and be substituted for the Guarantor with the same effect as if it had been named herein as a Guarantor. All the Note Guarantees so issued will in all respects have the same legal rank and benefit under this Indenture as the Note
Guarantees theretofore and thereafter issued in accordance with the terms of this Indenture as though all of such Note Guarantees had been issued at the date of the execution hereof. 

Except as set forth in Articles 4 and 5 hereof, and notwithstanding clauses (a) and (b) above, nothing contained in
this Indenture or in any of the Notes shall prevent any consolidation or merger of a Guarantor with or into another Person, or will prevent any sale or conveyance of the property of a Guarantor as an entirety or substantially as an entirety to the
Company or another Person. 
 Section 11.06 Releases. 

(a) In the event of a 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 transactions) the Company or a Restricted Subsidiary of the Company, then that Guarantor shall be released and relieved of any obligations under its Note Guarantee; provided that the Net Proceeds of such sale or other
disposition are applied in accordance with the applicable provisions of Section 4.10 hereof. Upon delivery by the Company to the Trustee of an Officers’ Certificate and an Opinion of Counsel to the effect that such sale or other
disposition was made by the Company in accordance with Section 4.10 hereof, the Trustee will execute any documents reasonably required in order to evidence the release of any Guarantor from its obligations under its Note Guarantee. 

(b) Upon designation of any Restricted Subsidiary that is a Guarantor as an Unrestricted Subsidiary in accordance with the terms of this
Indenture, that Guarantor will be released and relieved of any obligations under its Note Guarantee. 
 (c) Upon Legal
Defeasance or Covenant Defeasance in accordance with Article 8 hereof or satisfaction and discharge of this Indenture in accordance with Article 12 hereof, each Guarantor will be released and relieved of any obligations under its Note
Guarantee. 
  

 81 

 Any Guarantor not released from its obligations under its Note Guarantee as provided in this
Section 11.06 will remain liable for the full amount of principal of and interest and premium and Additional Interest, if any, on the Notes and for the other obligations of any Guarantor under this Indenture as provided in this Article 11.

 ARTICLE 12 

SATISFACTION AND DISCHARGE 

Section 12.01 Satisfaction and Discharge. 

This Indenture will be discharged and will cease to be of further effect as to all Notes issued hereunder, when: 

(1) either: 

(a) all Notes theretofore authenticated and delivered (except lost, stolen or destroyed Notes which have been replaced or
paid and Notes for whose payment money has theretofore been deposited in trust or segregated and held in trust by the Company and thereafter repaid to the Company or discharged from such trust) have been delivered to the Trustee for cancellation; or

 (b) all Notes not theretofore delivered to the Trustee for cancellation have become due and payable, pursuant
to an optional redemption notice or otherwise, or may be called for redemption within one year under arrangements satisfactory to the Trustee for the giving of notice of redemption by the Trustee in the name and at the expense of the Company, 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 theretofore delivered to the Trustee for cancellation, for principal of, premium, and Additional
Interest, if any, and accrued interest to the date of maturity or redemption, as the case may be; and 
 (2) the
Company or any Guarantor has paid or caused to be paid all sums payable by it under this Indenture. 
 In addition, the Company shall deliver an
Officers’ Certificate and an Opinion of Counsel to the Trustee stating that all conditions precedent to satisfaction and discharge have been satisfied. 

Notwithstanding the satisfaction and discharge of this Indenture, if money has been deposited with the Trustee pursuant to
subsection (b) of clause (1) of this Section 12.01, the provisions of Sections 12.02 and 8.06 hereof will survive. In addition, nothing in this Section 12.01 will be deemed to discharge those provisions of
Section 7.07 hereof, that, by their terms, survive the satisfaction and discharge of this Indenture. 
 Upon compliance
with the foregoing the Trustee will, upon request, acknowledge the satisfaction and discharge of this Indenture. 
  

 82 

 Section 12.02 Application of Trust Money. 

Subject to the provisions of Section 8.06 hereof, all money deposited with the Trustee pursuant to Section 12.01 hereof shall be
held in trust and applied by it, in accordance with the provisions of the Notes and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may determine, to
the Persons entitled thereto, of the principal (and premium and Additional Interest, if any) and interest for whose payment such money has been deposited with the Trustee; but such money need not be segregated from other funds except to the extent
required by law. 
 If the Trustee or Paying Agent is unable to apply any money or Government Securities in accordance with
Section 12.01 hereof by reason of any legal proceeding or by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, the Company’s and any Guarantor’s
obligations under this Indenture and the Notes shall be revived and reinstated as though no deposit had occurred pursuant to Section 12.01 hereof; provided that if the Company has made any payment of principal of, premium or Additional
Interest, if any, or interest on, any Notes because of 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 or Government Securities held by the
Trustee or Paying Agent. 
 ARTICLE 13 

MISCELLANEOUS 

Section 13.01 Trust Indenture Act Controls. 

If any provision of this Indenture limits, qualifies or conflicts with the duties imposed by TIA §318(c), the imposed duties will
control. 
 Section 13.02 Notices. 

Any notice or communication by the Company, any Guarantor or the Trustee to the others is duly given if in writing and delivered in Person
or by first class mail (registered or certified, return receipt requested), facsimile transmission or overnight air courier guaranteeing next day delivery, to the others’ address: 

If to the Company and/or any Guarantor: 

Mueller Water Products, Inc. 

1200 Abernathy Road, N.E., Suite 1200 

Atlanta, Georgia 30328 

Facsimile No.: (770) 206-4260 

Attention: Office of General Counsel 

With a copy to: 

Simpson Thacher & Bartlett LLP 

425 Lexington Avenue 

New York, New York 10017 

Facsimile No.: (212) 455-2502 

Attention: Vincent Pagano, Esq. 
  

 83 

 If to the Trustee: 

The Bank of New York Mellon Trust Company, N.A. 

900 Ashwood Parkway, Suite 425 

Atlanta, Georgia 30338 

Facsimile No.: (770) 698-5195 

Attention: Corporate Trust Division – Corporate Finance Unit 

The Company, any Guarantor or the Trustee, by notice to the others, may designate additional or different addresses for subsequent
notices or communications. 
 All notices and communications (other than those sent to the Trustee or Holders) will be deemed to
have been duly given: at the time delivered by hand, if personally delivered; five Business Days after being deposited in the mail, postage prepaid, if mailed; when receipt acknowledged, if transmitted by facsimile; and the next Business Day after
timely delivery to the courier, if sent by overnight air courier guaranteeing next day delivery. 
 Any notice or communication
to the Trustee shall be effective only upon actual receipt. Any notice or communication to a Holder will be mailed by first class mail, certified or registered, return receipt requested, or by overnight air courier guaranteeing next day delivery to
its address shown on the register kept by the Registrar. Any notice or communication will also be so mailed to any Person described in TIA §313(c), to the extent required by the TIA. Failure to mail a notice or communication to a Holder or any
defect in it will not affect its sufficiency with respect to other Holders. 
 If a notice or communication is mailed in the
manner provided above within the time prescribed, it is duly given, whether or not the addressee receives it, except in the case of notices or communications given to the Trustee, which shall be effective only upon actual receipt. 

The Trustee shall have the right, but shall not be required, to rely upon and comply with instructions and directions sent by e-mail,
facsimile and other similar unsecured electronic methods by persons reasonably believed by the Trustee to be authorized to give instructions and directions on behalf of the Company. The Trustee shall have no duty or obligation to verify or confirm
that the person who sent such instructions or directions is, in fact, a person authorized to give instructions or directions on behalf of the Company; and the Trustee shall have no liability for any losses, liabilities, costs or expenses incurred or
sustained by the Company as a result of such reasonable reliance upon or compliance with such instructions or directions. The Company agrees to assume all risks arising out of the use of such electronic methods to submit instructions and directions
to the Trustee, including without limitation the risk of the Trustee acting on unauthorized instructions, and the risk of interception and misuse by third parties. 

If the Company mails a notice or communication to Holders, it will mail a copy to the Trustee and each Agent at the same time.

 Section 13.03 Communication by Holders with Other Holders. 

Holders may communicate pursuant to TIA §312(b) with other Holders with respect to their rights under this Indenture or the Notes.
The Company, the Trustee, the Registrar and anyone else shall have the protection of TIA §312(c). 
  

 84 

 Section 13.04 Certificate and Opinion as to Conditions Precedent. 

Upon any request or application by the Company to the Trustee to take any action under this Indenture, the Company shall furnish to the
Trustee: 
 (1) an Officers’ Certificate (which must include the statements set forth in Section 13.05
hereof) stating that, in the opinion of the signers, all conditions precedent, if any, provided for in this Indenture relating to the proposed action have been complied with; and 

(2) except with respect to the issuance of the Initial Notes on the date hereof, an Opinion of Counsel (which must include
the statements set forth in Section 13.05 hereof) stating that, in the opinion of such counsel, all conditions precedent, if any, provided for in this Indenture relating to the proposed action have been complied with. 

Section 13.05 Statements Required in Certificate or Opinion. 

Each certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture (other than a
certificate provided pursuant to TIA §314(a)(4)) must comply with the provisions of TIA §314(e) and must include: 

(1) a statement that each Person signing such certificate or opinion has read such covenant or condition and the
definitions herein relating thereto; 
 (2) a brief statement as to the nature and scope of the examination or
investigation upon which the statements or opinions contained in such certificate or opinion are based; 
 (3) a
statement that, in the opinion of each such Person, he or she has made such examination or investigation as is necessary to enable him or her 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. 
 Section 13.06 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 functions. 
 Section 13.07 No Personal Liability of Directors, Officers, Employees and
Stockholders. 
 No past, present or future director, officer, employee, incorporator or stockholder 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 Note Guarantees or this Indenture or for any claim based on, in respect of, or by reason of, those obligations or their creation.
Each Holder 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 13.08 Governing Law. 

THE INDENTURE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 

 

 85 

 EACH OF THE COMPANY AND THE TRUSTEE 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 INDENTURE. 

ANY LEGAL ACTION OR PROCEEDING WITH RESPECT TO THIS INDENTURE AND ANY ACTION FOR ENFORCEMENT OF ANY JUDGMENT IN RESPECT THEREOF MAY BE
BROUGHT IN THE COURTS OF THE STATE OF NEW YORK OR OF THE UNITED STATES OF AMERICA FOR THE SOUTHERN DISTRICT OF NEW YORK, IN EACH CASE RESIDING IN THE COUNTY OF NEW YORK, AND, BY EXECUTION AND DELIVERY OF THIS INDENTURE, EACH OF THE PARTIES HERETO
HEREBY ACCEPTS FOR ITSELF AND IN RESPECT OF ITS PROPERTY, GENERALLY AND UNCONDITIONALLY, THE NON-EXCLUSIVE JURISDICTION OF THE AFORESAID COURTS AND APPELLATE COURTS FROM ANY THEREOF. THE COMPANY HERETO IRREVOCABLY CONSENTS TO THE SERVICE OF PROCESS
OUT OF ANY OF THE AFOREMENTIONED COURTS IN ANY SUCH ACTION OR PROCEEDING BY THE MAILING OF COPIES THEREOF BY REGISTERED OR CERTIFIED MAIL, POSTAGE PREPAID, TO THE COMPANY AT ITS ADDRESS REFERRED TO IN SECTION 13.02. EACH OF THE PARTIES HERETO HEREBY
IRREVOCABLY WAIVES, TO THE FULLEST EXTENT IT MAY DO SO UNDER APPLICABLE LAW, ANY OBJECTION WHICH IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY OF THE AFORESAID ACTIONS OR PROCEEDINGS ARISING OUT OF OR IN CONNECTION WITH THIS INDENTURE
BROUGHT IN THE COURTS REFERRED TO ABOVE AND TO THE FULLEST EXTENT IT MAY DO SO UNDER APPLICABLE LAW HEREBY FURTHER IRREVOCABLY WAIVES AND AGREES NOT TO PLEAD OR CLAIM IN ANY SUCH COURT THAT ANY SUCH ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT HAS
BEEN BROUGHT IN AN INCONVENIENT FORUM, NOTHING HEREIN SHALL AFFECT THE RIGHT OF ANY PARTY HERETO TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY LAW OR TO COMMENCE LEGAL PROCEEDINGS OR OTHERWISE PROCEED IN ANY OTHER JURISDICTION. 

Section 13.09 No Adverse Interpretation of Other Agreements. 

This Indenture may not be used to interpret any other indenture, loan or debt agreement of the Company or its Subsidiaries or of any other
Person. Any such indenture, loan or debt agreement may not be used to interpret this Indenture. 
 Section 13.10 Successors.

 All agreements of the Company in this Indenture and the Notes will bind its successors. All agreements of the Trustee in
this Indenture will bind its successors. All agreements of each Guarantor in this Indenture will bind its successors, except as otherwise provided in Section 11.05 hereof. 

Section 13.11 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 on such payment for the intervening period. 
  

 86 

 Section 13.12 Severability. 

In case any provision in this 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 13.13 Counterpart Originals. 

The parties may sign any number of copies of this Indenture. Each signed copy will be an original, but all of them together represent the
same agreement. 
 Section 13.14 Table of Contents, Headings, etc. 

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

[Signatures on following page] 
  

 87 

 SIGNATURES 

 

					
	Dated as of August 26, 2010	  		 	
		
		  	MUELLER WATER PRODUCTS, INC.
			
		  	By:	 	 /s/ Walter A. Smith

		  		 	Name: Walter A. Smith
		  		 	Title:   Vice President and Treasurer
		
		  	 ANVIL 1, LLC
 ANVIL
2, LLC
 ANVILSTAR, LLC

		  	ANVIL INTERNATIONAL, LP
		  	 By: Anvil 1, LLC, its General Partner

		  	FAST FABRICATORS, LLC
		  	 HENRY PRATT COMPANY, LLC

HENRY PRATT INTERNATIONAL, LLC
 HERSEY METERS
CO., LLC

		  	 HUNT INDUSTRIES, LLC

HYDRO GATE, LLC
 JAMES JONES COMPANY,
LLC

		  	 J. B. SMITH MFG CO., LLC

MCO 1, LLC
 MCO 2, LLC

		  	 MILLIKEN VALVE, LLC

MUELLER CO. LTD.

		  	 By: MCO 1, LLC, its General Partner

		  	 MUELLER FINANCIAL SERVICES, LLC

MUELLER GROUP, LLC
 MULLER GROUP CO-ISSUER, INC.

		  	 MUELLER INTERNATIONAL, INC.

MUELLER INTERNATIONAL, L.L.C.
 MUELLER
INTERNATIONAL FINANCE, INC.

		  	MUELLER INTERNATIONAL FINANCE, L.L.C.
		  	MUELLER SERVICE CALIFORNIA, INC.
		  	MUELLER SERVICE CO., LLC
		  	MUELLER SYSTEMS LLC
		  	UNITED STATES PIPE AND FOUNDRY COMPANY, LLC
		  	U.S. PIPE VALVE & HYDRANT, LLC
			
		  	By:	 	 /s/ Walter A. Smith

		  		 	Name: Walter A. Smith
		  		 	Title:   Vice President and Treasurer

 SIGNATURES 

Dated as of August 26, 2010 
  

			
	 THE BANK OF NEW YORK MELLON

TRUST COMPANY, N.A., as Trustee

		
	By:	 	 /s/ Lee Ann Willis

		 	Name: Lee Ann Willis
		 	Title:   Authorized Signatory

 [Face of Note] 

 
  

CUSIP/ISIN              

8 
3/4% Senior Notes due 2020 
  

			
	No.         	  	$        

MUELLER WATER PRODUCTS, INC. 

promises to pay to [                    ] or
registered assigns, 
 the principal sum of
[                                       
  UNITED STATES DOLLARS] as modified from time to time and reflected in the Schedule of Exchanges of Interests in the Global Note attached hereto of [            ] UNITED STATES
DOLLARS] on September 1, 2020. 
 Interest Payment Dates: March 1 and September 1 

Record Dates: February 15 and August 15 

Dated:             , 20     

 

			
	MUELLER WATER PRODUCTS, INC.
		
	By:	 	  

		 	Name:
		 	Title:

 This is one of the Notes referred

 to in the within-mentioned Indenture: 
  

			
	 THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Trustee

		
	By:	 	  

		 	Authorized Signatory

  

 
  

 A-1 

 [Back of Note] 

8 
3/4% Senior Notes due 2020 

[Insert the Global Note Legend, if applicable pursuant to the provisions of the Indenture] 

[Insert the Private Placement Legend, if applicable pursuant to the provisions of the Indenture] 

Capitalized terms used herein have the meanings assigned to them in this Indenture referred to below unless otherwise indicated.

 (1) INTEREST. Mueller Water Products, Inc., a Delaware corporation (the “Company”), promises to pay
interest on the principal amount of this Note at 8.750% per annum from August 26, 2010 until maturity and shall pay the Additional Interest, if any, payable pursuant to Section 5 of the Registration Rights Agreement referred to below.
The Company will pay interest and Additional Interest, if any, semi-annually in arrears on March 1 and September 1 of each year, or if any such day is not a Business Day, on the next succeeding Business Day (each, an “Interest Payment
Date”). Interest on the Notes will accrue from the most recent date to which interest has been paid or, if no interest has been paid, from the date of issuance; provided that if there is no existing Default in the payment of interest,
and if this Note is authenticated between a record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; provided further that the first
Interest Payment Date shall be March 1, 2011. The Company will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to time on demand at the rate then in
effect to the extent lawful; it will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and Additional Interest, if any, (without regard to any applicable grace periods)
from time to time on demand at the same rate to the extent lawful. Interest will be computed on the basis of a 360-day year of twelve 30-day months. 

(2) METHOD OF PAYMENT. The Company will pay interest on the Notes (except defaulted interest) and Additional Interest, if
any, to the Persons who are registered Holders at the close of business on the February 15 or August 15 next preceding the Interest Payment Date, even if such Notes are canceled after such record date and on or before such Interest Payment
Date, except as provided in Section 2.12 of the Indenture with respect to defaulted interest. The Notes will be payable as to principal, premium and Additional Interest, if any, and interest at the office or agency of the Company maintained for
such purpose within or without the City and State of New York, or, at the option of the Company, payment of interest and Additional Interest, if any, may be made by check mailed to the Holders at their addresses set forth in the register of Holders;
provided that payment by wire transfer of immediately available funds will be required with respect to principal of and interest, premium and Additional Interest, if any, on, all Global Notes and all other Notes the Holders of which will have
provided wire transfer instructions to the Company or the Paying Agent. Such payment will be in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts. 

(3) PAYING AGENT AND REGISTRAR. Initially, The Bank of New York Mellon Trust Company, N.A., the Trustee under the
Indenture, will act as Paying Agent and Registrar. The Company may change any Paying Agent or Registrar without notice to any Holder. The Company or any of its Subsidiaries may act in any such capacity. 

 

 A-2 

 (4) INDENTURE. The Company issued the Notes under an Indenture dated as of
August 26, 2010 (the “Indenture”) among the Company, the Guarantors and the Trustee. The terms of the Notes include those stated in the Indenture and those made part of the Indenture by reference to the TIA. The Notes are subject
to all such terms, and Holders are referred to the Indenture and such Act for a statement of such terms. To the extent any provision of this Note conflicts with the express provisions of the Indenture, the provisions of the Indenture shall govern
and be controlling. The Notes are unsecured obligations of the Company initially limited to $225.0 million in aggregate principal amount. Subject to Article 4 of the Indenture, the Company may issue Additional Notes that shall constitute
part of the same series as the Notes initially issued under the Indenture. 
 (5) OPTIONAL REDEMPTION.

 (a) On and after September 1, 2015, the Company may redeem the Notes, at any time, at its option in whole or in part,
upon not less than 30 nor more than 60 days’ notice, in cash at the redemption prices (expressed as percentages of principal amount) set forth below, plus accrued and unpaid interest and Additional Interest, if any, thereon to the
applicable redemption date, if redeemed during the twelve-month period beginning on September 1 of the years indicated below: 
  

				
	 Year
	  	Percentage	 
	 2015
	  	104.375	% 
	 2016
	  	102.917	% 
	 2017
	  	101.458	% 
	 2018 and thereafter
	  	100.000	% 

 Not more than
once during each twelve-month period ending September 1 on of 2011, 2012 and 2013, the Company may redeem up to 10% of the aggregate principal amount of the Notes originally issued under this Indenture during each such twelve-month period, at a
redemption price equal to 103% of the principal amount thereof, plus accrued and unpaid interest and Additional Interest, if any, thereon to the applicable redemption date. 

In addition to the foregoing, on or prior to September 1, 2013, the Company may redeem at any time at its option, up to 35% of the
aggregate principal amount of Notes from time to time originally issued under this Indenture in cash at a redemption price of 108.750% of the principal amount thereof, plus accrued and unpaid interest and Additional Interest, if any, thereon
to the applicable redemption date, with the net cash proceeds of one or more Public Equity Offerings; provided that: 

(1) at least 65% of the aggregate principal amount of Notes from time to time originally issued under this Indenture remains outstanding
immediately after the occurrence of the redemption; and 
 (2) the redemption shall occur within 90 days of the date of the
closing of any such Public Equity Offering. 
 (b) Any redemption shall be made pursuant to the provisions of Sections 3.01
through 3.06 of the Indenture. 
 (6) MANDATORY REDEMPTION. The Company is not required to make mandatory
redemption or sinking fund payments with respect to the Notes. 
  

 A-3 

 (7) REPURCHASE AT THE OPTION OF HOLDER. 

(a) If there is a Change of Control, the Company will be required to make an offer (a “Change of Control Offer”)
to each Holder to repurchase all or any part (equal to $2,000 or an integral multiple of $1,000 in excess thereof) of that Holder’s Notes at a purchase price in cash equal to 101% of the aggregate principal amount of Notes repurchased
plus accrued and unpaid interest and Additional Interest, if any, on the Notes repurchased to the date of repurchase, the “Change of Control Payment”). Within 75 days following any Change of Control, the Company will, or will
cause the Trustee to, mail a notice to each Holder describing the transaction or transactions that constitute the Change of Control as required by the Indenture. 

(b) If the Company or a Restricted Subsidiary of the Company consummates any Asset Sale, when the aggregate amount of
Excess Proceeds exceeds $10.0 million, the Company will commence an offer (an “Asset Sale Offer”) to all Holders and all holders of other Pari Passu Indebtedness containing provisions similar to those set forth in Sections 3.09
and 4.10 of the Indenture pursuant to Section 3.09 of the Indenture to purchase the maximum principal amount of Notes and such other Pari Passu Indebtedness that may be purchased out of the Excess Proceeds at an offer price in cash in an amount
equal to 100% of the principal amount thereof plus accrued and unpaid interest and Additional Interest, if any, thereon to the date of purchase, in accordance with the procedures set forth in the Indenture. To the extent that the aggregate
amount of Notes tendered pursuant to an Asset Sale Offer is less than the Excess Proceeds, the Company (or such Restricted Subsidiary) may use such deficiency for any purpose not otherwise prohibited by the Indenture. If the aggregate principal
amount of Notes and such other Pari Passu Indebtedness tendered into such Asset Sale Offer exceeds the amount of Excess Proceeds, the Trustee shall select the Notes and such other Pari Passu Indebtedness to be purchased on a pro rata basis. Holders
that are the subject of an offer to purchase will receive an Asset Sale Offer from the Company prior to any related purchase date and may elect to have such Notes purchased by completing the form entitled “Option of Holder to Elect
Purchase” attached to the Notes. 
 (8) NOTICE OF REDEMPTION. Notice of redemption will be mailed at least
30 days but not more than 60 days before the redemption date to each Holder whose Notes are to be redeemed at its registered address, except that redemption notices may be mailed more than 60 days prior to a redemption date if the
notice is issued in connection with a defeasance of the Notes or a satisfaction or discharge of the Indenture. Notes in denominations larger than $2,000 may be redeemed in part but only in integral multiples of $1,000 in excess thereof, unless all
of the Notes held by a Holder are to be redeemed. 
 (9) DENOMINATIONS, TRANSFER, EXCHANGE. The Notes are in
registered form without coupons in denominations of $2,000 and integral multiples of $1,000 in excess thereof. The transfer of Notes may be registered and Notes may be exchanged as provided in the Indenture. The Registrar and the Trustee may require
a Holder, among other things, to furnish appropriate endorsements and transfer documents and the Company may require a Holder to pay any taxes and fees required by law or permitted by the Indenture. The Company need not exchange or register the
transfer of any Note or portion of a Note selected for redemption, except for the unredeemed portion of any Note being redeemed in part. Also, the Company need not exchange or register the transfer of any Notes for a period of 15 days before a
selection of Notes to be redeemed or during the period between a record date and the corresponding Interest Payment Date. 
  

 A-4 

 (10) PERSONS DEEMED OWNERS. The registered Holder of a Note may be treated
as its owner for all purposes. 
 (11) AMENDMENT, SUPPLEMENT AND WAIVER. Subject to certain exceptions, the
Indenture or 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 then outstanding Notes voting as a single class, and any existing Default or
Event or Default (other than a Default or Event of Default in the payment of the principal of, premium or Additional Interest, if any, or interest on, the Notes, except a payment default resulting from an acceleration that has been rescinded) or
compliance with any provision of the 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 voting as a single class. Without the consent
of any Holder of a Note, the Indenture or the Notes or the Note Guarantees may be amended or supplemented to cure any ambiguity, defect or inconsistency; to provide for uncertificated Notes in addition to or in place of certificated Notes; to
provide for the assumption of the Company’s or a Guarantor’s obligations to Holders of the Notes and Note Guarantees in case of a merger or consolidation; to make any change that would provide any additional rights or benefits to the
Holders of the Notes or that does not, in the good faith judgment of the Company’s Board of Directors, materially adversely affect the legal rights under the Indenture of any such Holder; to comply with the requirements of the SEC in order to
effect or maintain the qualification of the Indenture under the TIA; to provide for the issuance of Additional Notes in accordance with the Indenture; to provide for additional Note Guarantees in accordance with the Indenture; to evidence and
provide for the acceptance and appointment under this Indenture of a successor trustee thereunder pursuant to the requirements hereof; to provide for the issuance of Exchange Notes or private exchange notes, which are identical to Exchange Notes
except that they are not freely transferable; to make any amendment to the provisions of the Indenture relating to the transfer and legending of Notes as permitted by the Indenture, including, without limitation to facilitate the issuance and
administration of the Notes; provided, however, that (i) compliance with the Indenture as so amended would not result in Notes being transferred in violation of the Securities Act or any applicable securities law and
(ii) such amendment does not materially and adversely affect the rights of Holders to transfer Notes; or to conform the text of the Indenture, the Note Guarantees or the Notes to any provision of the “Description of Notes”
section of the Offering Memorandum. 
 (12) DEFAULTS AND REMEDIES. Events of Default include: (i) default
for 30 days in the payment when due of interest on, or Additional Interest, if any, with respect to the Notes; (ii) default in the payment when due (at maturity, upon redemption or otherwise) of the principal of, or premium, if any, on,
the Notes; (iii) failure by the Company for 60 days after notice to the Company by the Trustee or the Holders of at least 25% in aggregate principal amount of the Notes then outstanding to comply with any of its other agreements in the
Indenture or the Notes (other than a default specified in Section 6.01(1) or (2) of the Indenture or relating to Section 4.03 of the Indenture); (iv) failure by the Company for 90 days after notice to the Company by the
Trustee or the Holders of at least 25% in aggregate principal amount of the Notes then outstanding to comply with Section 4.03 of the Indenture; (v) default under certain other agreements relating to Indebtedness of the Company or the
Restricted Subsidiaries which default is caused by a failure to pay Indebtedness at its stated final maturity or results in the acceleration of such Indebtedness prior to its stated final 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 such a failure to pay at maturity or the maturity of which has been so accelerated, aggregates $50.0 million or more; (vi) certain final
judgments for the payment of money, in an aggregate amount of $50.0 million or more, that remain undischarged for a period of 60 days; (vii) certain events of bankruptcy or insolvency with respect to the Company or any

  

 A-5 

 
of its Restricted Subsidiaries that is a Significant Subsidiary and (viii) except as permitted by the Indenture, any Note Guarantee by a Significant Subsidiary is held in any judicial
proceeding to be unenforceable or invalid or ceases for any reason to be in full force and effect or any such Guarantor or any Person acting on its behalf denies or disaffirms its obligations under such Guarantor’s Note Guarantee. If any Event
of Default occurs and is continuing, the Holders of at least 25% in aggregate 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 and the Trustee.
Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Notes will become due and payable immediately without further action or notice. Holders may not enforce the
Indenture, the Notes or the Note Guarantees except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Notes may direct the Trustee in its exercise of any trust or
power. The Trustee may withhold from Holders of the Notes notice of any continuing Default or Event of Default (except a Default or Event of Default relating to the payment of principal or interest or premium or Additional Interest, if any) if it
determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the then outstanding Notes by written notice to the Trustee may, on behalf of the Holders of all of the Notes, rescind an
acceleration or waive any existing Default or Event of Default and its consequences under the Indenture except a continuing Default or Event of Default in the payment of interest or premium or Additional Interest, if any, on, or the principal of,
the Notes. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required, upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement
specifying such Default or Event of Default. 
 (13) TRUSTEE DEALINGS WITH COMPANY. The Trustee, in its
individual or any other capacity, may make loans to, accept deposits from, and perform services for the Company or its Affiliates, and may otherwise deal with the Company or its Affiliates, as if it were not the Trustee. 

(14) NO RECOURSE AGAINST OTHERS. No past, present or future director, officer, employee, incorporator or stockholder of
the Company or any of the Guarantors, as such, will have any liability for any obligations of the Company or the Guarantors under the Notes, the Note Guarantees or the Indenture or for any claim based on, in respect of, or by reason of, such
obligations or their creation. Each Holder by accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for the issuance of the Notes. 

(15) AUTHENTICATION. This Note will not be valid until authenticated by the manual signature of the Trustee or an
authenticating agent. 
 (16) ABBREVIATIONS. Customary abbreviations may be used in the name of a Holder or an
assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act). 

(17) ADDITIONAL RIGHTS OF HOLDERS OF RESTRICTED GLOBAL NOTES AND RESTRICTED DEFINITIVE NOTES. In addition to the rights
provided to Holders under the Indenture, holders of Restricted Global Notes and Restricted Definitive Notes will have all the rights set forth in the Registration Rights Agreement dated August 26, 2010, among the Company, the Guarantors and the
other parties named on the signature pages thereof or, in the case of Additional Notes, holders of Restricted Global Notes and Restricted Definitive Notes will have the rights set forth in one or more registration rights agreements, if any, among
the 
  

 A-6 

 
Company, the Guarantors and the other parties thereto, relating to rights given by the Company and the Guarantors to the purchasers of any Additional Notes (collectively, the “Registration
Rights Agreement”). 
 (18) CUSIP NUMBERS. Pursuant to a recommendation promulgated by the Committee on
Uniform Security Identification Procedures, the Company has caused CUSIP numbers to be printed on the Notes, and the Trustee may use CUSIP numbers in notices of redemption as a convenience to Holders. No representation is made as to the accuracy of
such numbers either as printed on the Notes or as contained in any notice of redemption, and reliance may be placed only on the other identification numbers placed thereon. 

(19) GOVERNING LAW. THE INDENTURE, THIS NOTE AND THE NOTE GUARANTEES SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE
WITH, THE LAWS OF THE STATE OF NEW YORK. 
 The Company will furnish to any Holder upon written request and without charge a
copy of the Indenture and/or the Registration Rights Agreement. Requests may be made to: 
 Mueller Water Products, Inc. 

1200 Abernathy Road, N.E., Suite 1200 
 Atlanta,
Georgia 30328 
 Facsimile No.: (770) 206-4260 

Attention: Office of General Counsel 
  

 A-7 

 ASSIGNMENT FORM 

To assign this Note, fill in the form below: 

(I) or (we) assign and transfer this Note to: 

                         
                                         
                                         
                                         
                         

(Insert assignee’s legal name) 
  

 
 (Insert assignee’s soc. sec.
or tax I.D. no.) 
  
  

 
  
  

 
  

 
 (Print or type assignee’s
name, address and zip code) 
 and irrevocably appoint 
  

 
 to transfer this Note on the books of the
Company. The agent may substitute another to act for him. 
 Date:
                     
  

			
	 Your Signature:
	 	  

		 	(Sign exactly as your name
	 appears
	 	
		 	on the face of this Note)

  

			
	 Signature Guarantee*:
	 	  

  

	*	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). 

 

 A-8 

 OPTION OF HOLDER TO ELECT PURCHASE 

If you want to elect to have this Note purchased by the Company pursuant to Section 4.10 or 4.15 of the Indenture, check the
appropriate box below: 
  ̈
Section 4.10                             ̈
Section 4.15 
 If you want to elect to have only part of the Note purchased by the Company pursuant to Section 4.10
or Section 4.15 of the Indenture, state the amount you elect to have purchased: 

$         

Date:                      

 

			
	Your Signature:	 	  

		 	(Sign exactly as your name
	appears	 	
		 	on the face of this Note)

			
		
	Tax Identification	 	

			
	No.:	 	  

  

			
	 Signature Guarantee*:
	 	  

  

	*	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). 

 

 A-9 

 SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE * 

The following exchanges of a part of this Global Note for an interest in another Global Note or for a Definitive Note, or exchanges of a
part of another Global Note or Definitive Note for an interest in this Global Note, have been made: 
  

									
	 Date of Exchange
	  	Amount of
decrease 
in
Principal Amount
at maturity of 
this
Global Note	  	Amount of
increase
in
Principal
Amount
at maturity of this
Global Note	  	Principal Amount
at maturity of 
this
Global Note
following such
decrease
(or
increase)	  	Signature
of
authorized officer
of Trustee
or
Custodian
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	

  

	*	This schedule should be included only if the Note is issued in global form. 

  

 A-10 

 EXHIBIT B 

FORM OF CERTIFICATE OF TRANSFER 

Mueller Water Products, Inc. 
 1200 Abernathy
Road, N.E., Suite 1200 
 Atlanta, Georgia 30328 

Facsimile No.: (770) 206-4260 
 Attention:
Office of General Counsel 
 The Bank of New York Mellon Trust Company, N.A. 

101 Barclay Street, Ground Floor 
 New York, New
York 10286 
 Facsimile No.: (212) 815-5704 

Attention: Corporate Trust Division – Corporate Finance Unit 

Re:
8 3/4% Senior Notes due
2020 
 Reference is hereby made to the Indenture, dated as
of August 26, 2010 (the “Indenture”), among Mueller Water Products, Inc., as issuer (the “Company”), the Guarantors party thereto and The Bank of New York Mellon Trust Company, N.A., as trustee. Capitalized terms used but
not defined herein shall have the meanings given to them in the Indenture. 

                      
      , (the “Transferor”) owns and proposes to transfer the Note[s] or interest in such Note[s] specified in Annex A hereto, in the principal amount of
$         in such Note[s] or interests (the “Transfer”), to                      (the
“Transferee”), as further specified in Annex A hereto. In connection with the Transfer, the Transferor hereby certifies that: 

[CHECK ALL THAT APPLY] 

1. [    ] Check if Transferee will take delivery of a beneficial interest in the 144A Global Note or a Restricted
Definitive Note pursuant to Rule 144A. The Transfer is being effected pursuant to and in accordance with Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and, accordingly, the Transferor hereby
further certifies that the beneficial interest or Definitive Note is being transferred to a Person that the Transferor reasonably believes is purchasing the beneficial interest or Definitive Note for its own account, or for one or more accounts with
respect to which such Person exercises sole investment discretion, and such Person and each such account is a “qualified institutional buyer” within the meaning of Rule 144A in a transaction meeting the requirements of Rule 144A,
and such Transfer is in compliance with any applicable blue sky securities laws of any state of the United States. Upon consummation of the proposed Transfer in accordance with the terms of the Indenture, the transferred beneficial interest or
Definitive Note will be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the 144A Global Note and/or the Restricted Definitive Note and in the Indenture and the Securities Act. 

2. [    ] Check if Transferee will take delivery of a beneficial interest in the Regulation S Global Note or a
Restricted Definitive Note pursuant to Regulation S. The Transfer is being effected pursuant to and in accordance with (A) Rule 903 or Rule 904 under the Securities Act and, accordingly, the Transferor hereby further certifies
that (i) the Transfer is not being made to a Person in the United States and (x) at the time the buy order was originated, the Transferee was outside the United States or such Transferor and any Person acting on its behalf reasonably
believed and believes that the Transferee was outside the United States or (y) the transaction was executed in, on or through the facilities of a 

 

 B-1 

 
designated offshore securities market and neither such Transferor nor any Person acting on its behalf knows that the transaction was prearranged with a buyer in the United States, (ii) no
directed selling efforts have been made in contravention of the requirements of Rule 903(b) or Rule 904(b) of Regulation S under the Securities Act and, (iii) the transaction is not part of a plan or scheme to evade the
registration requirements of the Securities Act and (iv) if the proposed transfer is being made prior to the expiration of the Restricted Period, the transfer is not being made to a U.S. Person or for the account or benefit of a U.S. Person
(other than an Initial Purchaser). Upon consummation of the proposed transfer in accordance with the terms of the Indenture prior to expiration of the Restricted Period, the transferred beneficial interest or Definitive Note will be subject to the
restrictions on Transfer enumerated in the Private Placement Legend printed on the Regulation S Global Note and/or the Restricted Definitive Note and in the Indenture and the Securities Act or (B) Rule 144 under the Securities Act.

 3. [    ] Check and complete if Transferee will take delivery of a beneficial interest in a Restricted
Definitive Note pursuant to any provision of the Securities Act other than Rule 144A or Regulation S. The Transfer is being effected in compliance with the transfer restrictions applicable to beneficial interests in Restricted Definitive
Notes and pursuant to and in accordance with the Securities Act and any applicable blue sky securities laws of any state of the United States, and accordingly the Transferor hereby further certifies that (check one): 

(a) [    ] such Transfer is being effected pursuant to and in accordance with Rule 144 under the Securities Act;

 or 

(b) [    ] such Transfer is being effected to the Company or a subsidiary thereof; 

or 
 (c)
[    ] such Transfer is being effected pursuant to an effective registration statement under the Securities Act and in compliance with the prospectus delivery requirements of the Securities Act. 

4. [    ] Check if Transferee will take delivery of a beneficial interest in an Unrestricted Global Note or of an
Unrestricted Definitive Note. 
 (a) [    ] Check if Transfer is pursuant to Rule 144. (i) The
Transfer is being effected pursuant to and in accordance with Rule 144 under the Securities Act and in compliance with the transfer restrictions contained in the Indenture and any applicable blue sky securities laws of any state of the United
States and (ii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act. Upon consummation of the proposed Transfer in accordance with the
terms of the Indenture, the transferred beneficial interest or Definitive Note will no longer be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted Global Notes, on Restricted Definitive
Notes and in the Indenture. 
 (b) [    ] Check if Transfer is Pursuant to Regulation S. (i) The
Transfer is being effected pursuant to and in accordance with Rule 903 or Rule 904 under the Securities Act and in compliance with the transfer restrictions contained in the Indenture and any applicable blue sky securities laws of any
state of the United States and (ii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act. Upon consummation of the proposed Transfer in
accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Note will no longer be subject to the restrictions on transfer enumerated in the Private 

 

 B-2 

 
Placement Legend printed on the Restricted Global Notes, on Restricted Definitive Notes and in the Indenture. 

(c) [    ] Check if Transfer is Pursuant to Other Exemption. (i) The Transfer is being effected pursuant to and
in compliance with an exemption from the registration requirements of the Securities Act other than Rule 144, Rule 903 or Rule 904 and in compliance with the transfer restrictions contained in the Indenture and any applicable blue sky
securities laws of any State of the United States and (ii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act. Upon consummation of
the proposed Transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Note will not be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted
Global Notes or Restricted Definitive Notes and in the Indenture. 
 This certificate and the statements contained herein are
made for your benefit and the benefit of the Company. 
  

			
	  

	[Insert Name of Transferor]
		
	By:	 	  

		 	Name:
		 	Title:

 Dated:
                     
  

 B-3 

 ANNEX A TO CERTIFICATE OF TRANSFER 

 

	1.	The Transferor owns and proposes to transfer the following: 

[CHECK ONE OF (a) OR (b)] 

(a) [    ] a beneficial interest in the: 

(i) [    ] 144A Global Note (CUSIP             ),
or 
 (ii) [    ] Regulation S Global Note (CUSIP
            ). 
 (b) [    ] a Restricted
Definitive Note. 
  

	2.	After the Transfer the Transferee will hold: 

[CHECK ONE] 

(a) [    ] a beneficial interest in the: 

(i) [    ] 144A Global Note (CUSIP             ),
or 
 (ii) [    ] Regulation S Global Note (CUSIP
            ), or 
 (iv) [    ]
Unrestricted Global Note (CUSIP             ); or 
 (b)
[    ] a Restricted Definitive Note; or 
 (c) [    ] an Unrestricted Definitive Note,

 in accordance with the terms of the Indenture. 
  

 B-4 

 EXHIBIT C 

FORM OF CERTIFICATE OF EXCHANGE 

Mueller Water Products, Inc. 
 1200 Abernathy
Road, N.E., Suite 1200 
 Atlanta, Georgia 30328 

Facsimile No.: (770) 206-4260 
 Attention:
Office of General Counsel 
 The Bank of New York Mellon Trust Company, N.A. 

101 Barclay Street, Ground Floor 
 New York, New
York 10286 
 Facsimile No.: (212) 815-5704 

Attention: Corporate Trust Division – Corporate Finance Unit 

Re:      
8 3/4% Senior Notes due
2020 
 (CUSIP
            ) 
 Reference is hereby made to the Indenture,
dated as of August 26, 2010 (the “Indenture”), among Mueller Water Products, Inc., as issuer (the “Company”), the Guarantors party thereto and The Bank of New York Mellon Trust Company, N.A., as trustee. Capitalized terms
used but not defined herein shall have the meanings given to them in the Indenture. 

                      
      , (the “Owner”) owns and proposes to exchange the Note[s] or interest in such Note[s] specified herein, in the principal amount of $         in such
Note[s] or interests (the “Exchange”). In connection with the Exchange, the Owner hereby certifies that: 
 1.
Exchange of Restricted Definitive Notes or Beneficial Interests in a Restricted Global Note for Unrestricted Definitive Notes or Beneficial Interests in an Unrestricted Global Note 

(a) [    ] Check if Exchange is from beneficial interest in a Restricted Global Note to beneficial interest in an
Unrestricted Global Note. In connection with the Exchange of the Owner’s beneficial interest in a Restricted Global Note for a beneficial interest in an Unrestricted Global Note in an equal principal amount, the Owner hereby certifies
(i) the beneficial interest is being acquired for the Owner’s own account without transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to the Global Notes and pursuant to and in
accordance with the Securities Act of 1933, as amended (the “Securities Act”), (iii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the
Securities Act and (iv) the beneficial interest in an Unrestricted Global Note is being acquired in compliance with any applicable blue sky securities laws of any state of the United States. 

(b) [    ] Check if Exchange is from beneficial interest in a Restricted Global Note to Unrestricted Definitive Note.
In connection with the Exchange of the Owner’s beneficial interest in a Restricted Global Note for an Unrestricted Definitive Note, the Owner hereby certifies (i) the Definitive Note is being acquired for the Owner’s own account
without transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to the Restricted Global Notes and pursuant to and in accordance with the Securities Act, (iii) the restrictions on transfer
contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act and 

 

 C-1 

 
(iv) the Definitive Note is being acquired in compliance with any applicable blue sky securities laws of any state of the United States. 

(c) [    ] Check if Exchange is from Restricted Definitive Note to beneficial interest in an Unrestricted Global
Note. In connection with the Owner’s Exchange of a Restricted Definitive Note for a beneficial interest in an Unrestricted Global Note, the Owner hereby certifies (i) the beneficial interest is being acquired for the Owner’s own
account without transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to Restricted Definitive Notes and pursuant to and in accordance with the Securities Act, (iii) the restrictions on
transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act and (iv) the beneficial interest is being acquired in compliance with any applicable blue sky
securities laws of any state of the United States. 
 (d) [    ] Check if Exchange is from Restricted
Definitive Note to Unrestricted Definitive Note. In connection with the Owner’s Exchange of a Restricted Definitive Note for an Unrestricted Definitive Note, the Owner hereby certifies (i) the Unrestricted Definitive Note is being acquired
for the Owner’s own account without transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to Restricted Definitive Notes and pursuant to and in accordance with the Securities Act,
(iii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act and (iv) the Unrestricted Definitive Note is being acquired in
compliance with any applicable blue sky securities laws of any state of the United States. 
 2. Exchange of Restricted
Definitive Notes or Beneficial Interests in Restricted Global Notes for Restricted Definitive Notes or Beneficial Interests in Restricted Global Notes 

(a) [    ] Check if Exchange is from beneficial interest in a Restricted Global Note to Restricted Definitive Note.
In connection with the Exchange of the Owner’s beneficial interest in a Restricted Global Note for a Restricted Definitive Note with an equal principal amount, the Owner hereby certifies that the Restricted Definitive Note is being acquired for
the Owner’s own account without transfer. Upon consummation of the proposed Exchange in accordance with the terms of the Indenture, the Restricted Definitive Note issued will continue to be subject to the restrictions on transfer enumerated in
the Private Placement Legend printed on the Restricted Definitive Note and in the Indenture and the Securities Act. 
 (b)
[    ] Check if Exchange is from Restricted Definitive Note to beneficial interest in a Restricted Global Note. In connection with the Exchange of the Owner’s Restricted Definitive Note for a beneficial interest in the
[CHECK ONE] 144A Global Note, Regulation S Global Note with an equal principal amount, the Owner hereby certifies (i) the beneficial interest is being acquired for the Owner’s own account without transfer and (ii) such Exchange
has been effected in compliance with the transfer restrictions applicable to the Restricted Global Notes and pursuant to and in accordance with the Securities Act, and in compliance with any applicable blue sky securities laws of any state of the
United States. Upon consummation of the proposed Exchange in accordance with the terms of the Indenture, the beneficial interest issued will be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the
relevant Restricted Global Note and in the Indenture and the Securities Act. 
  

 C-2 

 This certificate and the statements contained herein are made for your benefit and the
benefit of the Company. 
  

			
	  

	[Insert Name of Transferor]
		
	By:	 	  

		 	Name:
		 	Title:

 Dated:
                     
  

 C-3 

 EXHIBIT D 

FORM OF SUPPLEMENTAL INDENTURE 

TO BE DELIVERED BY SUBSEQUENT GUARANTORS 

SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), dated as of
            , 20    , among                     
(the “Guaranteeing Subsidiary”), a subsidiary of Mueller Water Products, Inc. (or its permitted successor), a Delaware corporation (the “Company”), the Company, the other Guarantors (as defined in the Indenture referred to
herein) and The Bank of New York Mellon Trust Company, N.A., as trustee under the Indenture referred to below (the “Trustee”). 

W I T N E S S E T H 

WHEREAS, the Company has heretofore executed and delivered to the Trustee an indenture (the “Indenture”),
dated as of August 26, 2010 providing for the issuance of
8 3/4% Senior Notes due 2020 (the
“Notes”); 
 WHEREAS, the Indenture provides that under certain circumstances the Guaranteeing Subsidiary shall
execute and deliver to the Trustee a supplemental indenture pursuant to which the Guaranteeing Subsidiary shall unconditionally guarantee all of the Company’s Obligations under the Notes and the Indenture on the terms and conditions set forth
herein (the “Note Guarantee”); and 
 WHEREAS, pursuant to Section 9.01 of the Indenture, the Trustee is
authorized to execute and deliver this Supplemental Indenture. 
 NOW, THEREFORE, in consideration of the foregoing and for
other good and valuable consideration, the receipt of which is hereby acknowledged, the Guaranteeing Subsidiary and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders of the Notes as follows: 

1. CAPITALIZED TERMS. Capitalized terms used herein without definition shall have the meanings assigned to them in the Indenture.

 2. AGREEMENT TO GUARANTEE. The Guaranteeing Subsidiary hereby agrees to provide an unconditional Guarantee on the terms and
subject to the conditions set forth in the Note Guarantee and in the Indenture including but not limited to Article 11 thereof. 

4. NO RECOURSE AGAINST OTHERS. No past, present or future director, officer, employee, incorporator, stockholder or agent of the
Guaranteeing Subsidiary, as such, shall have any liability for any obligations of the Company or any Guaranteeing Subsidiary under the Notes, any Note Guarantees, the Indenture or this Supplemental Indenture or for any claim based on, in respect of,
or by reason of, such obligations or their creation. Each Holder by accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Notes. 

5. NEW YORK LAW TO GOVERN. THIS SUPPLEMENTAL INDENTURE WILL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF
NEW YORK. 
 6. COUNTERPARTS. The parties may sign any number of copies of this Supplemental Indenture. Each signed copy shall
be an original, but all of them together represent the same agreement. 
  

 D-1 

 7. EFFECT OF HEADINGS. The Section headings herein are for convenience only and shall
not affect the construction hereof. 
 8. THE TRUSTEE. The Trustee shall not be responsible in any manner whatsoever for or in
respect of the validity or sufficiency of this Supplemental Indenture or for or in respect of the recitals contained herein, all of which recitals are made solely by the Guaranteeing Subsidiary and the Company. 

 

 D-2 

 IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly
executed and attested, all as of the date first above written. 
 Dated:
            , 20     
  

			
	[GUARANTEEING SUBSIDIARY]
		
	By:	 	  

		 	Name:
		 	Title:
	
	MUELLER WATER PRODUCTS, INC.
		
	By:	 	  

		 	Name:
		 	Title:
	
	[EXISTING GUARANTORS]
		
	By:	 	  

		 	Name:
		 	Title:
	
	 THE BANK OF NEW YORK TRUST

COMPANY, N.A., as Trustee

		
	By:	 	  

	Authorized Signatory

  

 D-3Credit Agreement

 Exhibit 10.23 

EXECUTION COPY 
  

 
  

CREDIT AGREEMENT 

Dated as of August 26, 2010 

among 

MUELLER WATER PRODUCTS, INC. 

and 
 EACH OF
ITS BORROWING SUBSIDIARIES PARTY HERETO, 
 each as a Borrower, 

CERTAIN FINANCIAL INSTITUTIONS, 

as Lenders, 

JPMORGAN CHASE BANK, N.A., 

as Syndication Agent, 

WELLS FARGO BANK, NATIONAL ASSOCIATION 

and 
 SUNTRUST
BANK, 
 as Co-Documentation Agents 

and 
 BANK OF
AMERICA, N.A., 
 as Administrative Agent 

BANC OF AMERICA SECURITIES LLC 

and 
 J.P.
MORGAN SECURITIES INC., 
 as 

Joint Lead Arrangers and Joint Bookrunners 
  

 
  

 TABLE OF CONTENTS 

 

					
	 	  	 Section
	  	Page
	ARTICLE I.
	DEFINITIONS AND ACCOUNTING TERMS
			
	 1.01
	  	 Defined Terms
	  	1
	 1.02
	  	 Other Interpretive Provisions
	  	42
	 1.03
	  	 Accounting Terms
	  	43
	 1.04
	  	 Uniform Commercial Code
	  	44
	 1.05
	  	 Rounding
	  	44
	 1.06
	  	 Times of Day
	  	45
	 1.07
	  	 Letter of Credit Amounts
	  	45
	 1.08
	  	 Exchange Rates; Currency Equivalents
	  	45
	 1.09
	  	 Additional Alternative Currencies
	  	45
	 1.10
	  	 Change of Currency
	  	46
	
	ARTICLE II.
	THE COMMITMENTS AND CREDIT EXTENSIONS
			
	 2.01
	  	 Borrower Agent
	  	47
	 2.02
	  	 Revolving Loans
	  	47
	 2.03
	  	 Borrowings, Conversions and Continuations of Committed Loans
	  	47
	 2.04
	  	 Letters of Credit
	  	50
	 2.05
	  	 Swing Line Loans
	  	60
	 2.06
	  	 Prepayments
	  	63
	 2.07
	  	 Termination or Reduction of Commitments
	  	64
	 2.08
	  	 Repayment of Loans
	  	64
	 2.09
	  	 Interest
	  	65
	 2.10
	  	 Fees
	  	65
	 2.11
	  	 Computation of Interest and Fees; Retroactive Adjustments of Applicable Rate
	  	66
	 2.12
	  	 Evidence of Debt
	  	66
	 2.13
	  	 Payments Generally; Administrative Agent’s Clawback
	  	67
	 2.14
	  	 Sharing of Payments by Lenders
	  	69
	 2.15
	  	 Increase in Revolving Credit Facility
	  	70
	 2.16
	  	 Nature and Extent of Each Borrower’s Liability
	  	71
	 2.17
	  	 Cash Collateral
	  	74
	 2.18
	  	 Defaulting Lenders
	  	75
	
	ARTICLE III.
	SECURITY
			
	 3.01
	  	 Security
	  	77
	 3.02
	  	 Collateral Administration
	  	77
	 3.03
	  	 Further Assurances
	  	80
	 3.04
	  	 Information Regarding Collateral
	  	81
	
	ARTICLE IV.
	TAXES, YIELD PROTECTION AND ILLEGALITY

  

 i 

					
	 4.01
	  	 Taxes
	  	81
	4.02	  	 Illegality
	  	85
	4.03	  	 Inability to Determine Rates
	  	86
	4.04	  	 Increased Costs; Reserves on Eurocurrency Rate Loans
	  	86
	4.05	  	 Compensation for Losses
	  	88
	4.06	  	 Mitigation Obligations; Replacement of Lenders
	  	88
	4.07	  	 Survival
	  	89
	
	ARTICLE V.
	CONDITIONS PRECEDENT TO CREDIT EXTENSIONS
			
	5.01	  	 Conditions of Initial Credit Extension
	  	89
	5.02	  	 Conditions to all Credit Extensions
	  	91
	
	ARTICLE VI.
	REPRESENTATIONS AND WARRANTIES
			
	6.01	  	 Existence, Qualification and Power; Compliance with Laws
	  	92
	6.02	  	 Authorization; No Contravention
	  	93
	6.03	  	 Governmental Authorization; Other Consents
	  	93
	6.04	  	 Binding Effect
	  	93
	6.05	  	 Financial Statements; No Material Adverse Effect
	  	93
	6.06	  	 Litigation
	  	94
	6.07	  	 No Default
	  	94
	6.08	  	 Ownership of Property; Liens
	  	94
	6.09	  	 Environmental Compliance
	  	94
	6.10	  	 Insurance
	  	95
	6.11	  	 Taxes
	  	95
	6.12	  	 ERISA Compliance
	  	95
	6.13	  	 Subsidiaries; Equity Interests
	  	96
	6.14	  	 Margin Regulations; Investment Company Act
	  	96
	6.15	  	 Disclosure
	  	96
	6.16	  	 Compliance with Laws
	  	97
	6.17	  	 Intellectual Property; Licenses, Etc.
	  	97
	6.18	  	 Senior Indebtedness
	  	97
	6.19	  	 OFAC
	  	97
	6.20	  	 USA Patriot Act
	  	97
	
	ARTICLE VII.
	AFFIRMATIVE COVENANTS
			
	7.01	  	 Financial Statements
	  	98
	7.02	  	 Certificates; Other Information
	  	99
	7.03	  	 Notices
	  	101
	7.04	  	 Payment of Obligations
	  	101
	7.05	  	 Preservation of Existence, Etc.
	  	101
	7.06	  	 Maintenance of Properties
	  	102
	7.07	  	 Maintenance of Insurance; Condemnation Proceeds
	  	102
	7.08	  	 Compliance with Laws
	  	102
	7.09	  	 Books and Records
	  	102
	7.10	  	 Inspection Rights; Appraisals
	  	102

  

 ii 

					
	7.11	  	 Use of Proceeds
	  	103
	7.12	  	 New Subsidiaries
	  	103
	7.13	  	 Compliance with ERISA
	  	104
	7.14	  	 Further Assurances
	  	104
	7.15	  	 Unrestricted Subsidiaries
	  	104
	7.16	  	 Licenses
	  	106
	7.17	  	 Landlord and Storage Agreements
	  	106
	
	ARTICLE VIII.
	NEGATIVE COVENANTS
			
	 8.01
	  	 Liens
	  	107
	 8.02
	  	 Investments
	  	109
	 8.03
	  	 Indebtedness
	  	111
	 8.04
	  	 Fundamental Changes
	  	112
	 8.05
	  	 Dispositions
	  	113
	 8.06
	  	 Restricted Payments
	  	114
	 8.07
	  	 Change in Nature of Business
	  	114
	 8.08
	  	 Transactions with Affiliates
	  	114
	 8.09
	  	 Burdensome Agreements
	  	115
	 8.10
	  	 Use of Proceeds
	  	116
	 8.11
	  	 Prepayment of Indebtedness; Amendment to Material Agreements
	  	116
	 8.12
	  	 Financial Covenant
	  	117
	 8.13
	  	 Acquisitions
	  	117
	 8.14
	  	 Creation of New Subsidiaries
	  	118
	
	ARTICLE IX.
	EVENTS OF DEFAULT AND REMEDIES
			
	 9.01
	  	 Events of Default
	  	118
	 9.02
	  	 Remedies Upon Event of Default
	  	120
	 9.03
	  	 Application of Funds
	  	121
	
	ARTICLE X.
	ADMINISTRATIVE AGENT
			
	 10.01
	  	 Appointment and Authority
	  	123
	 10.02
	  	 Rights as a Lender
	  	123
	 10.03
	  	 Exculpatory Provisions
	  	123
	 10.04
	  	 Reliance by Administrative Agent
	  	124
	 10.05
	  	 Delegation of Duties
	  	124
	 10.06
	  	 Resignation of Administrative Agent
	  	125
	 10.07
	  	 Non-Reliance on Administrative Agent and Other Lenders
	  	126
	 10.08
	  	 No Other Duties, Etc.
	  	126
	 10.09
	  	 Administrative Agent May File Proofs of Claim
	  	126
	 10.10
	  	 Collateral Matters
	  	127
	 10.11
	  	 Other Collateral Matters
	  	127
	 10.12
	  	 Related Credit Providers
	  	128

  

 iii 

					
	ARTICLE XI.
	MISCELLANEOUS
			
	 11.01
	  	 Amendments, Etc.
	  	128
	 11.02
	  	 Notices; Effectiveness; Electronic Communication
	  	130
	 11.03
	  	 No Waiver; Cumulative Remedies
	  	132
	 11.04
	  	 Expenses; Indemnity; Damage Waiver
	  	133
	 11.05
	  	 Marshalling; Payments Set Aside
	  	135
	 11.06
	  	 Successors and Assigns
	  	135
	 11.07
	  	 Treatment of Certain Information; Confidentiality
	  	141
	 11.08
	  	 Right of Setoff
	  	141
	 11.09
	  	 Interest Rate Limitation
	  	142
	 11.10
	  	 Counterparts; Integration; Effectiveness
	  	142
	 11.11
	  	 Survival of Representations and Warranties
	  	143
	 11.12
	  	 Severability
	  	143
	 11.13
	  	 Replacement of Lenders
	  	143
	 11.14
	  	 Governing Law; Jurisdiction; Etc.
	  	144
	 11.15
	  	 Waiver of Jury Trial
	  	145
	 11.16
	  	 USA PATRIOT Act Notice
	  	145
	 11.17
	  	 No Advisory or Fiduciary Responsibility
	  	145
		
	 SIGNATURES
	  	S-1

  

 iv 

 SCHEDULES 
  

			
	1.01	  	 Unrestricted Subsidiaries

	1.02	  	 Existing Letters of Credit

	2.01	  	 Commitments and Pro Rata Shares

	3.02(d)	  	 Deposit Accounts and Securities Accounts

	3.04	  	 Information Regarding Collateral

	5.01	  	 Good Standing and Foreign Qualification Jurisdictions

	6.06	  	 Litigation

	6.09	  	 Environmental Matters

	6.11	  	 Proposed Tax Assessments

	6.12(d)	  	 ERISA Compliance

	6.13(a)	  	 Subsidiaries

	6.13(b)	  	 Other Equity Investments

	8.01	  	 Existing Liens

	8.02	  	 Existing Investments

	8.03	  	 Existing Indebtedness

	11.02	  	 Administrative Agent’s Office; Certain Addresses for Notices

EXHIBITS 
  

			
		  	Form of
		
	A	  	 Revolving Loan Notice

	B	  	 Swing Line Loan Notice

	C	  	 Revolving Loan Note

	D	  	 Compliance Certificate

	E	  	 Assignment and Assumption

	F	  	 Security Agreement

	G	  	 Borrowing Base Certificate

	H	  	 Borrower Joinder Agreement

 

 v 

 CREDIT AGREEMENT 

This CREDIT AGREEMENT is entered into as of August 26, 2010, among MUELLER WATER PRODUCTS, INC., a Delaware corporation (the
“Company”), MUELLER GROUP, LLC, a Delaware limited liability company (“Mueller Group”), ANVIL INTERNATIONAL, LP, a Delaware limited partnership (“Anvil”),
ANVILSTAR, LLC, a Delaware limited liability company (“AnvilStar”), FAST FABRICATORS, LLC, a Delaware limited liability company (“Fast Fabricators”), HENRY PRATT COMPANY, LLC, a
Delaware limited liability company (“HPC”), HERSEY METERS CO., LLC, a Delaware limited liability company (“HMC”), HUNT INDUSTRIES, LLC, a Delaware limited liability company
(“Hunt”), HYDRO GATE, LLC, a Delaware limited liability company (“Hydro”), J.B. SMITH MFG CO., LLC, a Delaware limited liability company (“JB Smith”), JAMES
JONES COMPANY, LLC, a Delaware limited liability company (“James Jones”), MILLIKEN VALVE, LLC, a Delaware limited liability company (“Milliken”), MUELLER CO. LTD., an Alabama limited
partnership (“MC”), MUELLER INTERNATIONAL, INC., a Delaware corporation (“MI”), MUELLER SERVICE CALIFORNIA, INC., a Delaware corporation (“Mueller California”),
MUELLER SERVICE CO., LLC, a Delaware limited liability company (“MSC”), MUELLER SYSTEMS LLC, a Delaware limited liability company (“MS”), UNITED STATES PIPE AND FOUNDRY COMPANY,
LLC, an Alabama limited liability company (“Foundry”), U.S. PIPE VALVE & HYDRANT, LLC, a Delaware limited liability company (“Hydrant”) (each of the Company, Mueller Group, Anvil,
AnvilStar, Fast Fabricators, HPC, HMC, Hunt, Hydro, JB Smith, James Jones, Milliken, MC, MI, Mueller California, MSC, MS, Foundry and Hydrant may be referred to individually, as a “Borrower” and collectively herein, as
“Borrowers”), EACH LENDER FROM TIME TO TIME PARTY HERETO (collectively, the “Lenders” and individually, a “Lender”), BANK OF AMERICA, N.A., as Administrative
Agent, Swing Line Lender, and an L/C Issuer. 
 Preliminary Statements 

A. The Borrowers have requested that Lenders, the Swing Line Lender and the L/C Issuer provide a credit facility to the Borrowers to
finance their mutual and collective business enterprises. 
 B. The Lenders are willing to provide the credit facility on the
terms and conditions set forth in this Agreement. 
 In consideration of the mutual covenants and agreements herein contained,
the parties hereto covenant and agree as follows: 
 ARTICLE I. 

DEFINITIONS AND ACCOUNTING TERMS 

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

 

 1 

 “Account” means any account (as that term is defined in
Article 9 of the UCC) of any Borrower or any Subsidiary. 
 “Accounts Formula Amount” means 85% of the
Value of Eligible Accounts; provided that, notwithstanding the exclusion under the proviso in the definition of “Eligible Accounts”, (a) 50% of the Value of Accounts purchased or otherwise acquired by a Borrower in an
Acquisition permitted under Section 8.13 (as such Value is reflected on the financial statements of the target of such Acquisition (or if such statements are not available or not applicable, as reasonably estimated by the Borrower Agent
and approved by the Administrative Agent)) shall be included on and from the date of the consummation of the Acquisition in the calculation of the Borrowing Base (including for the purpose of determining Availability for Loans being made hereunder
on the date of the consummation of such Acquisition to pay consideration owed in respect thereof) until the earlier of (i) 90 days following the consummation of the Acquisition pursuant to which such Accounts were acquired or (ii) such
time as the Administrative Agent has completed a customary due diligence investigation as to such Accounts and such target (which investigation may, at the sole discretion of the Administrative Agent, include a Field Exam) with results satisfactory
to the Administrative Agent, at which time the actual Value and eligibility of such Accounts under the Borrowing Base shall be calculated and implemented accordingly, and (b) 50% of the Value of Accounts to be purchased or otherwise acquired by
a Borrower in an Acquisition permitted under Section 8.13 shall be included for the purpose of determining Availability in the calculation of Pro Forma Availability in connection with such Acquisition; provided, however,
that in each case of clause (a) and (b) above, (A) Accounts that would be excluded from the Borrowing Base on the basis of clauses (a), (f), (g), (h), (i), (j) or (l) of the definition of Eligible Accounts may be excluded
from the determination of the Value of such acquired Accounts by the Administrative Agent and (B) in no event shall the sum of the Value of such acquired Accounts included in the Borrowing Base, Availability and Pro Forma Availability
plus the Value of the acquired Inventory included in the Borrowing Base, Availability and Pro Forma Availability pursuant to the definition of “Inventory Formula Amount” exceed $15,000,000 at any time. 

“Acquisition” means the acquisition of (a) a controlling equity or other ownership interest in another
Person (including the purchase of an option, warrant or convertible or similar type security to acquire such a controlling interest at the time it becomes exercisable by the holder thereof), whether by purchase of such equity or other ownership
interest or upon exercise of an option or warrant for, or conversion of securities into, such equity or other ownership interest, or (b) assets of another Person which constitute all or substantially all of the assets of such Person or of a
line or lines of business conducted by such Person. 
 “Administrative Agent” means Bank of America in
its capacity as administrative agent under any of the Loan Documents, or any successor administrative agent. 

“Administrative Agent’s Office” means, with respect to any currency, the Administrative Agent’s address
and, as appropriate, account as set forth on Schedule 11.02 with respect to such currency, or such other address or account with respect to such currency as the Administrative Agent may from time to time notify to the Borrower Agent and the
Lenders. 
  

 2 

 “Administrative Questionnaire” means an Administrative Questionnaire
in a form supplied by the Administrative Agent. 
 “Affiliate” means, with respect to any 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. Additionally, a Person shall be deemed to be an Affiliate of another Person if such
other Person possesses, directly or indirectly, power to vote 20% or more of the securities having ordinary voting power for the election of directors, managing general partners or the equivalent. 

“Aggregate Commitments” means, as at any date of determination thereof, the sum of all Revolving Credit
Commitments of all Lenders at such date. 
 “Agreement” means this Credit Agreement. 

“Allocable Amount” has the meaning specified in Section 2.16(c). 

“Alternative Currency” means each of Euro, Sterling, Yen, Canadian Dollar and each other currency (other than
Dollars) that is approved in accordance with Section 1.09. 
 “Alternative Currency
Equivalent” means, at any time, with respect to any amount denominated in Dollars, the equivalent amount thereof in the applicable Alternative Currency as determined by the L/C Issuer at such time on the basis of the Spot Rate
(determined in respect of the most recent Revaluation Date) for the purchase of such Alternative Currency with Dollars. 

“Applicable Facility” has the meaning specified in Section 11.06(b). 

“Applicable Rate” means with respect to any Type of Loan, the percentages per annum set forth below, based upon
the Average Availability for the immediately preceding fiscal quarter: 
  

									
	 Level
	  	 Average Availability

(as a percentage of

Aggregate Commitments)
	  	Eurocurrency
Rate Loans	 	 	Base Rate Loans	 
	 I
	  	>66.6%	  	2.75	% 	 	1.75	% 
	 II
	  	£ 66.6% but > 33.3%	  	3.00	% 	 	2.00	% 
	 III
	  	£ 33.3%	  	3.25	% 	 	2.25	% 

 From the Closing Date through
the end of the first full fiscal quarter thereafter, margins shall be determined as if Level II were applicable. Thereafter, any increase or decrease in the Applicable Rate resulting from a change in Average Availability shall become effective as of
the first calendar day of each fiscal quarter. Average Availability shall be calculated by the Administrative Agent based on the Borrowing Base Certificates delivered from time to time pursuant to Section 3.02 (as the same may be
adjusted in accordance with Section 3.02) and, with respect to Reserves and outstanding Loans and L/C Obligations, Administrative Agent’s records and Credit Judgment. If any Borrowing Base Certificate (including any required
financial information in support thereof) of Borrowers is not received by Administrative Agent within five Business Days of the date required pursuant to Section 3.02, then the Applicable Rate

  

 3 

 
shall be determined as if the Average Availability for the immediately preceding fiscal quarter is at Level III until such time as such Borrowing Base Certificate and supporting information are
received. 
 “Applicable Share” has the meaning specified in Section 11.06(b). 

“Applicable Time” means, with respect to any requests for Letters of Credit and payments in any Alternative
Currency, the local time in the place of settlement for such Alternative Currency as may be determined by the Administrative Agent or the L/C Issuer to be necessary for timely settlement on the relevant date in accordance with normal banking
procedures in the place of payment. 
 “Approved Fund” means any Fund that is administered or managed by
(a) a Lender, (b) an Affiliate of a Lender or (c) an entity or an Affiliate of an entity that administers or manages a Lender. 

“Arrangers” means BAS and JPMS, each in its capacity as a joint lead arranger and joint book manager. 

“Assignee Group” means two or more Eligible Assignees that are Affiliates of one another or two or more Approved
Funds managed by the same investment advisor. 
 “Assignment and Assumption” means an assignment and
assumption entered into by a Lender and an Eligible Assignee (with the consent of any party whose consent is required by Section 11.06(b)), and accepted by the Administrative Agent, in substantially the form of Exhibit E or any
other form approved by the Administrative Agent. 
 “Assumed Indebtedness” means
Indebtedness of a Person which is (a) in existence at the time such Person becomes a Restricted Subsidiary of the Company or (b) is assumed in connection with an Investment in or Acquisition of such Person, and has not been incurred or
created by such Person in connection with, or in anticipation or contemplation of, such Person becoming a Restricted Subsidiary of the Company. 

“Attributable Indebtedness” means, on any date, (a) in respect of any capital lease of any Person, the
capitalized amount thereof that would appear on a balance sheet of such Person prepared as of such date in accordance with GAAP, and (b) in respect of any Synthetic Lease Obligation, the capitalized amount of the remaining lease payments under
the relevant lease that would appear on a balance sheet of such Person prepared as of such date in accordance with GAAP if such lease were accounted for as a capital lease. 

“Audited Financial Statements” means the audited consolidated balance sheet of the Company and its Subsidiaries
for the fiscal year ended September 30, 2009, and the related consolidated statements of income or operations, stockholders’ equity and cash flows for such fiscal year of the Company and its Subsidiaries, including the notes thereto.

 “Auditor” has the meaning specified in Section 7.01(a). 

 

 4 

 “Availability” means the
Loan Cap (excluding any applicable L/C Reserve) as of such date minus the Total Outstandings as of such date. 

“Availability Period” means the period from and including the Closing Date to the earliest of (a) the
Revolving Credit Maturity Date, (b) the date of termination of the Aggregate Commitments pursuant to Section 2.07, and (c) the date of termination of the commitment of each Lender to make Loans and of the obligation of the L/C
Issuer to make L/C Credit Extensions pursuant to Section 9.02. 
 “Availability
Reserve” means the sum (without duplication of any other Reserve or items that are otherwise addressed or excluded through eligibility criteria) of (a) the Rent and Charges Reserve; (b) the L/C Reserve;
(c) the Related Credit Reserve; and (d) the aggregate amount of liabilities at any time (i) secured by Liens upon Collateral that are senior to Administrative Agent’s Liens or (ii) for which Administrative Agent and Lenders
may be obligated to third parties in connection with this Agreement for which claims may be reasonably expected to be asserted against the Collateral, Administrative Agent or Lenders (but imposition of any such reserve shall not waive an Event of
Default arising therefrom); provided the imposition of any such reserves or change in a reserve after the Closing Date shall not be effective until three (3) Business Days after notice thereof (which may be oral notice, promptly
confirmed in writing) to the Borrower Agent (unless a Default or Event of Default has occurred and is continuing or the reserve or change in reserve is the result of a Lien, senior in priority to the Administrative Agent’s Lien, attached to
Collateral included in the Borrowing Base, in which case such reserve or change in reserve shall be effective immediately); provided further that during the period from such notice until such new or changed reserve is effective, the
aggregate amount of all outstanding Loans and L/C Obligations as of the date of the receipt of notice may not be increased to the extent such increase would not be permitted by virtue of the Borrowing Base as adjusted after giving effect to such
Borrowing Base Modification. 
 “Average Availability” means for any period, the average daily amount of
Availability during such period. 
 “Bank of America” means Bank of America, N.A. and its successors.

 “Bank of America Fee Letter” means the letter agreement, dated as of July 30, 2010 among the
Company, the Administrative Agent and BAS. 
 “BAS” means Banc of America Securities LLC. 

“Base Rate” means, for any day, a fluctuating rate per annum equal to the highest of (a) the Prime Rate for
such day; (b) the Federal Funds Rate for such day, plus 0.50%; or (c) Eurocurrency Rate for a 30 day interest period as determined on such day, plus 1.00%. 

“Base Rate Loan” means a Loan that bears interest based on the Base Rate. All Base Rate Loans shall be
denominated in Dollars. 
 “Base Rate Revolving Loan” means a Revolving Loan that is a Base Rate Loan.

 “Borrower” has the meaning specified in the introductory paragraph hereto. 

 

 5 

 “Borrower Agent” has the meaning specified in
Section 2.01. 
 “Borrower Joinder Agreement” means each Borrower Joinder Agreement,
substantially in the form thereof attached hereto as Exhibit H, executed and delivered by a Domestic Subsidiary to the Administrative Agent pursuant to Section 7.12, as amended, modified, supplemented or amended and restated.

 “Borrower Materials” has the meaning specified in Section 7.02. 

“Borrowing” means any of (a) a Revolving Borrowing or (b) a Swing Line Borrowing, as the context may
require. 
 “Borrowing Base” means, on any date of determination, an amount equal to the sum of the
Accounts Formula Amount, plus the Inventory Formula Amount, minus the Borrowing Base Reserve. 

“Borrowing Base Certificate” means a certificate, in the form of Exhibit G hereto and otherwise
satisfactory to the Administrative Agent in its reasonable discretion. 
 “Borrowing Base Modification”
means a change instituted by the Administrative Agent in its Credit Judgment to the eligibility criteria set forth in, and in accordance with, the definition of Eligible Accounts or Eligible Inventory or the imposition by Administrative Agent of any
new reserve or any increase of any existing reserve. For purposes of Section 2.03(g), the Borrowing Base Modification is deemed to be imposed on the date such change or imposition is made. 

“Borrowing Base Reserve” means the sum (without duplication of any other Reserve or items that are otherwise
addressed or excluded through eligibility criteria, and without duplication of any of the factors taken into account in determining “Value”) of (a) the Inventory Reserve; (b) the Rent and Charges Reserve; (c) the L/C Reserve;
(d) the Related Credit Reserve; (e) the aggregate amount of liabilities secured by Liens upon Collateral that are senior in priority to Administrative Agent’s Liens (but imposition of any such reserve shall not waive an Event of
Default arising therefrom); (f) the Dilution Reserve; and (g) such additional reserves, in such amounts and with respect to such matters, as the Administrative Agent in its Credit Judgment may elect to impose from time to time;
provided the imposition of any such reserves or change in a reserve after the Closing Date shall not be effective until three (3) Business Days after notice thereof (which may be oral notice, promptly confirmed in writing) to the
Borrower Agent (unless a Default or Event of Default has occurred and is continuing or the reserve or change in reserve is the result of a Lien, senior in priority to the Administrative Agent’s Lien, attached to Collateral included in the
Borrowing Base, in which case such reserve or change in reserve shall be effective immediately); provided further that during the period from such notice until such new or changed reserve is effective, the aggregate amount of all
outstanding Loans and L/C Obligations as of the date of the receipt of notice may not be increased to the extent such increase would not be permitted by virtue of the Borrowing Base as adjusted after giving effect to such Borrowing Base
Modification. 
 “Business Day” means any day other than a Saturday, Sunday or other day on which
commercial banks are authorized to close under the Laws of, or are in fact closed in, the state 
  

 6 

 
where the Administrative Agent’s Office with respect to Obligations denominated in Dollars is located and: 

(a) if such day relates to any interest rate settings as to a Eurocurrency Rate Loan denominated in Dollars, any fundings,
disbursements, settlements and payments in Dollars in respect of any such Eurocurrency Rate Loan, or any other dealings in Dollars to be carried out pursuant to this Agreement in respect of any such Eurocurrency Rate Loan, means any such day on
which dealings in deposits in Dollars are conducted by and between banks in the London interbank eurodollar market; 

(b) if such day relates to any fundings, disbursements, settlements and /or payments in Euro in respect of
any Letter of Credit issued in an Alternative Currency consisting of Euros, means a TARGET Day; and 

(c) if such day relates to any fundings, disbursements, settlements and payments in a currency other than Dollars or Euro
in respect of a Letter of Credit issued in an Alternative Currency other than Euro, means any such day on which banks are open for foreign exchange business in the principal financial center of the country of such currency.

 “Canadian Dollar” and “CAN$” mean lawful money of Canada. 

“Cash Collateralize” means to pledge and deposit with or deliver to the Administrative Agent, for the benefit of
the Administrative Agent or the L/C Issuer (as applicable) and the Lenders, as collateral for L/C Obligations, or obligations of Lenders to fund participations in respect of any thereof, cash or deposit account balances, in each case denominated in
Dollars, or, if the L/C Issuer benefitting from such collateral shall agree in its sole discretion, other credit support, in each case pursuant to documentation in form and substance satisfactory to (a) the Administrative Agent and (b) the
L/C Issuer in the exercise of their reasonable discretion. “Cash Collateral” shall have a meaning correlative to the foregoing and shall include the proceeds of such cash collateral and other credit support. 

“Cash Equivalents” means any of the following types of property, to the extent owned by the Company or any of its
Restricted Subsidiaries free and clear of all Liens (other than Liens created under the Security Instruments): 

(a) cash, denominated in Dollars, Canadian Dollars, Euros or Yen; 

(b) readily marketable direct obligations of the government of the United States or any agency or instrumentality thereof,
or obligations the timely payment of principal and interest on which are fully and unconditionally guaranteed by the government of the United States or any state or municipality thereof, in each case so long as such obligation has an investment
grade rating by S&P and Moody’s; 
 (c) commercial paper rated at least P-1 (or the then equivalent
grade) by Moody’s and A-1 (or the then equivalent grade) by S&P, or carrying an equivalent rating by a nationally recognized rating agency if at any time neither Moody’s and S&P shall be rating such obligations; provided
that up to 25% of the aggregate amount of Investments 
  

 7 

 
in Cash Equivalents pursuant to this subpart (c) of the definition thereof may be in commercial paper that is rated (I) at least P-1 (or the then equivalent grade) by Moody’s and
at least A-2 (or the then equivalent grade) by S&P, or (II) at least P-2 (or the then equivalent grade) by Moody’s and at least A-1 (or the then equivalent grade) by S&P; 

(d) insured certificates of deposit or bankers’ acceptances of, or time deposits with any Lender or with any
commercial bank that (i) is a member of the Federal Reserve System, (ii) issues (or the parent of which issues) commercial paper rated as described in the first portion of clause (c) above (without regard to the proviso),
(iii) is organized under the laws of the United States or of any state thereof and (iv) has combined capital and surplus of at least $250,000,000; 

(e) readily marketable general obligations of any corporation organized under the laws of any state of the United States
of America, payable in the United States of America, expressed to mature not later than twelve months following the date of acquisition thereof and rated A or better by S&P or A2 or better by Moody’s; 

(f) readily marketable shares of investment companies or money market funds that, in each case, invest solely in the
foregoing Investments consistent with the description in clauses (a) through (e) above; and 
 (g) in
the case of any Restricted Subsidiary of the Company organized or having its principal place of business outside the United States, investments denominated in the currency of the jurisdiction in which such Subsidiary is organized or has its
principal place of business which are similar in nature and substantially the same in term and ratings to the items specified in clauses (a) through (f) above. 

“Change in Law” means (a) any change arising from the enactment or enforcement of the Dodd-Frank Wall Street
Reform and Consumer Protection Act of 2010, as amended, or any rules, regulations, interpretations, guidelines or directives promulgated thereunder, and (b) the occurrence, after the date of this Agreement, of any of the following: (i) the
adoption or taking effect of any law, rule, regulation or treaty, (ii) any change in any law, rule, regulation or treaty or in the administration, interpretation or application thereof by any Governmental Authority or (iii) the making or
issuance of any request, guideline or directive (whether or not having the force of law) by any Governmental Authority. 

“Change of Control” means an event or series of events by which: 

(a) any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Exchange Act,
but excluding any employee benefit plan of the Company or its Restricted Subsidiaries, and any person or entity acting in its capacity as trustee, agent or other fiduciary or administrator of any such plan) becomes the “beneficial owner”
(as defined in Rules 13d-3 and 13d-5 under the Exchange Act, except that a person or group shall be deemed to have “beneficial ownership” of all securities that such person or group has the right to acquire (such right, an “option
right”), whether such right is exercisable immediately or only after the passage of time), directly or indirectly, of 50% or more of the Voting Securities of the Company on a fully-diluted basis (and taking into account all

  

 8 

 
such securities that such person or group has the right to acquire pursuant to any option right); or 

(b) during any period of 24 consecutive months, a majority of the members of the board of directors or other equivalent
governing body of the Company cease to be composed of individuals (i) who were members of that board or equivalent governing body on the first day of such period, (ii) whose election or nomination to that board or equivalent governing body
was approved by individuals referred to in clause (i) above constituting at the time of such election or nomination at least a majority of that board or equivalent governing body or (iii) whose election or nomination to that board or other
equivalent governing body was approved by individuals referred to in clauses (i) and (ii) above constituting at the time of such election or nomination at least a majority of that board or equivalent governing body (excluding, in the case
of both clause (ii) and clause (iii), any individual whose initial nomination for, or assumption of office as, a member of that board or equivalent governing body occurs as a result of an actual or threatened solicitation of proxies or consents
for the election or removal of one or more directors by any person or group other than a solicitation for the election of one or more directors by or on behalf of the board of directors). 

(c) any “change of control” (or term having an equivalent meaning) shall occur under the Senior Notes Documents
or the Subordinated Notes Documents. 
 “Closing Date” means the first date all the conditions precedent
in Section 5.01 are satisfied or waived in accordance with Section 11.01 (or, in the case of Section 5.01(b), waived by the Person entitled to receive the applicable payment). 

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

“Collateral” means, collectively, certain personal property of the Borrowers in which the Administrative Agent or
any Lender is granted a Lien under any Security Instrument as security for all or any portion of the Obligations or any other obligation arising under any Loan Document. 

“Commitment Fee” has the meaning specified in Section 2.10(a). 

“Compliance Certificate” means a certificate substantially in the form of Exhibit D. 

“Consolidated Capital Expenditures” means, with respect to the Company and its Restricted Subsidiaries on a
consolidated basis, for any period the sum of (without duplication) all expenditures (whether paid in cash or accrued as liabilities) by the Company or any Restricted Subsidiary during such period for items that would be classified as
“property, plant or equipment” or comparable items on the consolidated balance sheet of the Company and its Restricted Subsidiaries, including without limitation all transactional costs incurred in connection with such expenditures
provided the same have been capitalized; provided, that Consolidated Capital Expenditures shall exclude any portion of the purchase price of an Acquisition permitted by Section 8.13 which is accounted for as a capital expenditure.

  

 9 

 “Consolidated Cash Interest Charges” means, for any period, for the
Company and its Restricted Subsidiaries on a consolidated basis, that portion of Consolidated Interest Charges that is either paid or required to be paid in cash during such period. 

“Consolidated EBITDA” means, for any period and in each case without duplication (including any duplication with
any item excluded in calculating Consolidated Net Income), with respect to the Company and its Restricted Subsidiaries, on a consolidated basis determined in accordance with GAAP, an amount equal to: 

 

					
		  	(a)	  	Consolidated Net Income for such period,
			
	 plus
	  	(b)	  	Consolidated Interest Charges for such period, to the extent deducted in computing Consolidated Net Income,
			
	 plus
	  	(c)	  	the provision for federal, state, local and foreign income taxes for such period, to the extent deducted in computing Consolidated Net Income,
			
	 plus
	  	(d)	  	depreciation and depletion expense, to the extent deducted in computing Consolidated Net Income,
			
	 plus
	  	(e)	  	amortization expense, to the extent deducted in computing Consolidated Net Income,
			
	 plus
	  	(f)	  	all other non-cash charges or expenses (excluding any non-cash charges representing an accrual of, or reserve for, cash charges to be paid within the next twelve months) to the
extent deducted in computing Consolidated Net Income,
			
	 plus
	  	(g)	  	any amounts deducted in determining Consolidated Net Income representing mark-to-market losses related to interest rate hedges that must be recognized currently in net income
under Financial Accounting Standards Board Statement 133 (to the extent not included in Consolidated Interest Charges),
			
	 minus
	  	(h)	  	any amounts added in determining Consolidated Net Income representing mark-to-market gains related to interest rate hedges that must be recognized currently in net income under
Financial Accounting Standards Board Statement 133 (to the extent not included in Consolidated Interest Charges),
			
	 minus
	  	(i)	  	all other non-cash income or gains added in determining Consolidated Net Income,
			
	 plus
	  	(j)	  	expenses incurred in connection with the Transactions to the extent deducted in computing Consolidated Net
Income,

  

 10 

					
	plus    	  	(k)	 	any amounts deducted in determining Consolidated Net Income representing cash restructuring costs, or cash costs reasonably determined by the Company to be associated with
facility or product line closures, consolidation or rationalization, not to exceed (i) $15,000,000 in the aggregate incurred during the fiscal year of the Company ending September 30, 2010 and (ii) $5,000,000 in the aggregate incurred
during any fiscal year of the Company occurring after September 30, 2010; and
			
	plus	  	(l)	 	proceeds received from claims under business interruption insurance;

provided, however, Consolidated EBITDA shall be decreased by the amount of any cash expenditures in such period related to non-cash charges
added back to Consolidated Net Income in computing Consolidated EBITDA during any prior periods. 

“Consolidated Fixed Charge Coverage Ratio” means the ratio, determined on a consolidated basis for
the Company and its Restricted Subsidiaries for the most recent Measurement Period, of (a) Consolidated EBITDA minus Consolidated Capital Expenditures (other than Excluded Capital Expenditures) minus cash taxes paid, to
(b) Consolidated Fixed Charges. 
 “Consolidated Fixed Charges” means,
for any period, for the Company and its Restricted Subsidiaries on a consolidated basis, the sum of, without duplication, (a) Consolidated Cash Interest Charges paid or required to be paid during such period, (b) all current maturities of
long term Consolidated Funded Indebtedness paid in cash during such period (other than any payments due at the maturity of such Consolidated Funded Indebtedness), (c) all mandatory principal payments paid in cash on Consolidated Funded
Indebtedness (other than repayment of certain Indebtedness (including the term loans under the Existing Agreement) on the Closing Date) during such period, (d) all Restricted Payments made in cash during such period and (e) cash
contributions to Pension Plans equal to the lesser of (i) all such cash contributions to Pension Plans in excess of the amounts reflected in the profit and loss statements of the Company for such period and (ii) $5,000,000. 

 “Consolidated Funded Indebtedness” means, as of any date of determination, for the Company and its
Restricted Subsidiaries on a consolidated basis, the sum of (a) the outstanding principal amount of all obligations, whether current or long-term, for borrowed money (including Obligations hereunder) and all obligations evidenced by bonds,
debentures, notes, loan agreements or other similar instruments, (b) all purchase money Indebtedness, (c) all direct obligations arising under standby and commercial letters of credit (excluding the undrawn amount thereof), bankers’
acceptances, bank guaranties (excluding the amounts available thereunder as to which demand for payment has not yet been made), surety bonds (excluding the amounts available thereunder as to which demand for payment has not yet been made) and
similar instruments, (d) all obligations in respect of the deferred purchase price of property or services (other than trade accounts payable in the Ordinary Course of Business), (e) Attributable Indebtedness in respect of capital leases
and Synthetic Lease Obligations, (f) without duplication, all Guarantees with respect to outstanding Indebtedness of the types specified in clauses (a)

 

 11 

 
through (e) above of Persons other than the Company or any Restricted Subsidiary, and (g) all Indebtedness of the types referred to in clauses (a) through (f) above of any
partnership or joint venture (other than a joint venture that is itself a corporation or limited liability company) in which the Company or a Restricted Subsidiary is a general partner or joint venturer, to the extent such Indebtedness is recourse
to the Company or such Restricted Subsidiary. 
 “Consolidated Interest Charges” means, for any period,
for the Company and its Restricted Subsidiaries on a consolidated basis, the sum of the following (without duplication), in each case net of interest income earned (without duplication) on cash balances or under Swap Contracts hedging against, or
otherwise entered into to manage risks relating to, fluctuations in interest rates to the extent such interest income is included in the calculation of Consolidated Net Income: (a) all interest, and (b) the portion of rent expense of the
Company and its Restricted Subsidiaries with respect to such period under capital leases that is treated as interest in accordance with GAAP. 

“Consolidated Net Income” means, for any period, for the Company and its Restricted Subsidiaries on a
consolidated basis, the net income after taxation of the Company and its Restricted Subsidiaries for that period excluding (a) net losses or gains realized in connection with (i) any sale, lease, conveyance or other disposition of any
asset (other than in the Ordinary Course of Business), or (ii) repayment, repurchase or redemption of Indebtedness, and (b) extraordinary or nonrecurring income (or expense), including, any compensation charge incurred in connection with
the Transactions, in the case of clauses (a) and (b) above, calculated on an after tax basis; provided that there shall be excluded from Consolidated Net Income, without duplication, (x) the net income or loss of any Person
that is not a Restricted Subsidiary or that is accounted for by the equity method of accounting to the extent of the amount of dividends or distributions are not actually paid to the Company or a Restricted Subsidiary in cash, (y) net income or
loss of any Person in which any other Person (other than the Company or a Restricted Subsidiary) has an ownership interest, except to the extent of (A) in the case of the Company or a Subsidiary, the amount thereof representing the ownership
interest of the Company or applicable Subsidiary and (B) in the case of any Person other than a Subsidiary, the amount of dividends or other distributions actually paid in cash to the Company or a Restricted Subsidiary by such Person during
such period and (z) the net income of any Person the ability of which to make Restricted Payments is restricted by any Restrictive Agreement at the time of the determination of Consolidated Net Income, except to the extent of the amount of
dividends or other distributions actually paid in cash to the Company or a Restricted Subsidiary by such Person during such period. 

“Contractual Obligation” means, as to any Person, any provision of any security issued by such Person or of any
agreement, instrument or other undertaking to which such Person is a party or by which it or any of its property is bound. 

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

 

 12 

 “Core Business” means any material line of business conducted by the
Company and its Subsidiaries as of the Closing Date and any business reasonably related or incidental thereto. 

“Credit Extension” means each of the following: (a) a Borrowing and (b) an L/C Credit Extension.

 “Credit Judgment” means the Administrative Agent’s judgment exercised reasonably and in good
faith, based upon its consideration of any factor that it believes (a) could materially and adversely affect the quantity, quality, mix or value of Collateral (including any applicable Laws that may inhibit collection of an Account), the
enforceability or priority of the Administrative Agent’s Liens, or the amount that the Administrative Agent and Lenders could receive in liquidation of any Collateral; (b) suggests that any collateral report or financial information
delivered by the Borrower Agent or any Borrower is incomplete, inaccurate or misleading in any material respect; (c) materially increases the likelihood of any proceeding under any Debtor Relief Law involving a Borrower; or (d) creates or
could result in a Default or Event of Default. In exercising such judgment, the Administrative Agent may consider any factors that could increase the credit risk of lending to Borrowers on the security of the Collateral. 

“Debtor Relief Laws” means the Bankruptcy Code of the United States, and all other liquidation, conservatorship,
bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief Laws of the United States or other applicable jurisdictions from time to time in effect and affecting
the rights of creditors generally. 
 “Default” means any event or condition that constitutes an Event
of Default or that, with the giving of any notice, the passage of time, or both, would unless cured or waived be an Event of Default. 

“Default Rate” means an interest rate equal to (a) the Base Rate plus (b) the Applicable Rate with
respect to Base Rate Loans plus (c) 2% per annum; provided, however, that (i) with respect to a Eurocurrency Rate Loan, the Default Rate shall be an interest rate equal to the interest rate (including any Applicable
Rate) otherwise applicable to such Eurocurrency Rate Loan plus 2% per annum, and (ii) with respect to Letter of Credit Fees, the Default Rate shall equal the Letter of Credit Fee, then in effect plus 2% per annum, in each case to the
fullest extent permitted by applicable Laws. 
 “Defaulting Lender” means, subject to
Section 2.18(b), any Lender that, as determined by the Administrative Agent, (a) has failed to perform any of its funding obligations hereunder, including in respect of its Loans or participations in respect of Letters of Credit or
Swing Line Loans, within three Business Days of the date required to be funded by it hereunder, (b) has notified any Borrower or the Administrative Agent that it does not intend to comply with its funding obligations or has made a public
statement to that effect with respect to its funding obligations hereunder or under other agreements in which it commits to extend credit, (c) has failed, within three Business Days after request by the Administrative Agent, to confirm in a
manner satisfactory to the Administrative Agent that it will comply with its funding obligations, or (d) has, or has a direct or indirect parent company that has, (i) become the subject of a

  

 13 

 
proceeding under any Debtor Relief Law, (ii) had a receiver, conservator, trustee, administrator, assignee for the benefit of creditors or similar Person charged with reorganization or
liquidation of its business or a custodian appointed for it, or (iii) taken any action in furtherance of, or indicated its consent to, approval of or acquiescence in any such proceeding or appointment; provided that a Lender shall not be
a Defaulting Lender solely by virtue of the ownership or acquisition of any equity interest in that Lender or any direct or indirect parent company thereof by a Governmental Authority. 

“Deposit Account Control Agreement” means each control agreement in form and substance acceptable to the
Administrative Agent in the exercise of its reasonable discretion executed by each financial institution at which Deposit Accounts of the Borrowers are held (other than Excluded Deposit Accounts) in favor of the Administrative Agent. 

“Dilution Percent” means the percent, determined for the most recent Measurement Period, equal to (a) bad
debt write-downs or write-offs, discounts, returns, promotions, credits, credit memos and other dilutive items with respect to Accounts which are recorded to reduce accounts receivable consistent with the current and historical practices of the
Borrowers or by a field examination conducted by the Administrative Agent’s employees or representatives, in each case as determined by the Administrative Agent in its Credit Judgment, divided by (b) gross sales;
provided that in no event shall the Dilution Percent be less than zero. 
 “Dilution Reserve”
means, at any date of determination, (a) the percentage amount by which the Dilution Percent exceeds 5% times (b) the amount of Eligible Accounts of the Borrowers. 

“Disposition” or “Dispose” means the sale, transfer, license, lease or other disposition
(including any sale and leaseback transaction) of any property (including any Equity Interest), or part thereof, by any Person, including any sale, assignment, transfer or other disposal, with or without recourse, of any notes or accounts receivable
or any rights and claims associated therewith. 
 “Disqualified Equity Interest” means 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 (other than an event solely within the control of the issuer thereof), matures or is
mandatorily redeemable, pursuant to a sinking fund obligation or otherwise, is convertible into or exchangeable for Indebtedness (except to the extent convertible or exchangeable at the option of the issuer of the debt instrument governing such
Indebtedness) or redeemable at the option of the holder thereof, in whole or in part, on or prior to the Revolving Credit Maturity Date; provided, however, that (i) with respect to any Equity Interests issued to any employee or to
any plan for the benefit of employees of the Company or its Subsidiaries or by any such plan to such employees, such Equity Interest shall not constitute Disqualified Equity Interests solely because it may be required to be repurchased by the
Company or one of its Subsidiaries in order to satisfy applicable statutory or regulatory obligations or as a result of such employee’s termination, resignation, death or disability and (ii) any class of Equity Interest of such Person that
by its terms authorizes such Person to satisfy its obligations thereunder by delivery of an Equity Interest that is not a Disqualified Equity Interest, such Equity Interests shall not be deemed to be Disqualified Equity Interests and (iii) only
the portion of such Equity 
  

 14 

 
Interests which so matures or is so mandatorily redeemable, is so convertible or exchangeable or is so redeemable at the option of the holder thereof prior to such date shall be deemed to be
Disqualified Equity Interests. Notwithstanding the preceding sentence, any Equity Interest that would constitute Disqualified Equity Interests solely because the holders thereof (or the holders of any security into, or for, which such Equity
Interest is convertible, exchangeable or exercisable) have the right to require a Borrower to repurchase such Equity Interest upon the occurrence of a change of control or an asset sale shall not constitute Disqualified Equity Interests to the
extent the terms of such Equity Interest provide that the issuer thereof may not repurchase such Equity Interest unless such repurchase complies with the terms of Section 8.06(d) or (e). 

“Dollar” and “$” mean lawful money of the United States. 

“Dollar Equivalent” means, at any time, (a) with respect to any amount denominated in Dollars, such amount,
and (b) with respect to any amount denominated in any Alternative Currency, the equivalent amount thereof in Dollars as determined by the Administrative Agent or the L/C Issuer at such time on the basis of the Spot Rate (determined in respect
of the most recent Revaluation Date) for the purchase of Dollars with such Alternative Currency. 
 “Domestic
Restricted Subsidiaries” means all Domestic Subsidiaries of the Company that are Restricted Subsidiaries. 

“Domestic Subsidiary” means any Subsidiary that is organized under the laws of any political subdivision of the
United States (but excluding any territory or possession thereof). 
 “Dominion Account” means any
special account established by Borrowers at Bank of America or another bank acceptable to the Administrative Agent, over which the Administrative Agent has a Deposit Account Control Agreement. 

“Dominion Trigger Period” means the period (a) commencing on the day after the continuation for three
consecutive Business Days of (i) an Event of Default occurring and continuing or (ii) Availability being less than the Dominion Trigger Threshold and (b) continuing until the date that during the previous thirty (30) consecutive
days, (i) no Event of Default has existed and (ii) Availability has been not less than the Dominion Trigger Threshold at all times during such period. 

“Dominion Trigger Threshold” means the greater of (a) 15% of the Aggregate Commitments at such time and
(b) $41,000,000. 
 “Eligible Account” means an Account owing to a Borrower that arises in the
Ordinary Course of Business from the sale of goods or services and is payable in Dollars or Canadian Dollars; provided that no Account shall be an Eligible Account if (a) it is unpaid for more than 60 days after the original due date, or
more than 120 days after the original invoice date; (b) 50% or more of the Accounts owing by the Account Debtor are not Eligible Accounts under the foregoing clause; (c) when aggregated with other Accounts owing by the Account Debtor, it
exceeds 10% (or in the case of (i) HD Supply, Inc., 30% and (ii) Ferguson Enterprises, Inc., 20%) of the aggregate Eligible Accounts (or such higher percentage as the Administrative Agent may establish for the Account Debtor from time to
time); (d) it does not conform with a covenant 
  

 15 

 
or representation herein in any material respect; (e) it (i) is owing by a creditor or supplier, or (ii) is otherwise subject to a potential offset, counterclaim, dispute,
deduction, discount, recoupment, reserve, defense, chargeback, credit or allowance (but, in each case of clauses (i) and (ii), ineligibility shall be limited to the amount of such potential offset, counterclaim, dispute, deduction, discount,
recoupment, reserve, defense, chargeback, credit or allowance) unless (A) the Administrative Agent, in its Credit Judgment, has established an appropriate Borrowing Base Reserve and determines to include such Account as an Eligible Account or
(B) such Account Debtor has entered into an agreement reasonably acceptable to the Administrative Agent to waive such rights; (f) an Insolvency Proceeding has been commenced by or against the Account Debtor; or the Account Debtor has
failed, has suspended or ceased doing business, is liquidating, dissolving or winding up its affairs, or is not Solvent; or the Borrower Agent is not able to bring suit or enforce remedies against the Account Debtor through judicial process;
(g) the Account Debtor is organized or has its principal offices or assets outside the United States or Canada, unless such Account is backed by an irrevocable letter of credit that has been confirmed by a financial institution reasonably
acceptable to the Administrative Agent, and on terms, reasonably acceptable to the Administrative Agent, payable in the full face amount of the face value of the Account in Dollars at a place of payment located within the United States and has been
duly assigned to the Administrative Agent; (h) it is subject to the Assignment of Claims Act of 1940, as amended from time to time, or any other applicable law now or hereafter existing similar in effect thereto, unless the applicable Borrower
has assigned its right to payments of such Account so as to comply with the Assignment of Claims Act of 1940, as amended from time to time, or any such other applicable law; (i) it is not subject to a duly perfected, first priority Lien in
favor of the Administrative Agent, or is subject to any other Lien other than Permitted Liens (provided that no such Permitted Lien is prior to the Lien of the Administrative Agent); (j) the goods giving rise to it have not been delivered to
and accepted by the Account Debtor, the services giving rise to it have not been accepted by the Account Debtor, or it otherwise does not represent a final sale; (k) it is evidenced by Chattel Paper or an Instrument of any kind, or has been
reduced to judgment; (l) its payment has been extended, the Account Debtor has made a partial payment (except partial payments reflecting retainage in the Ordinary Course of Business), or it arises from a sale on a cash-on-delivery basis;
(m) it arises from a sale to an Affiliate, from a sale on a bill-and-hold, guaranteed sale, sale-or-return, sale-on-approval, consignment, or other repurchase or return basis, or from a sale to a Person for personal, family or household
purposes; (n) it represents a progress billing or relates to services for which a performance, surety or completion bond or similar assurance has been issued; (o) it includes a billing for interest, fees or late charges, but ineligibility
shall be limited to the extent thereof; or (p) such Account is deemed by the Administrative Agent to be unacceptable as an Eligible Account in the exercise of its Credit Judgment; provided, however, except as set forth in the
definition of Accounts Formula Amount, none of the Accounts of any Person acquired or created in an Acquisition shall be included in the calculation of the Borrowing Base until the Administrative Agent has conducted Field Exams reasonably required
by it with results reasonably satisfactory to the Agent and the Person owning such Accounts shall be a (directly or indirectly) wholly-owned Subsidiary of the Company and have become a Borrower. In calculating delinquent portions of Accounts under
clauses (a) and (b), credit balances more than 60 days past due or more than 120 days past the original invoice date will be excluded. 
  

 16 

 “Eligible Assignee” means any Person that meets
the requirements to be an assignee under Section 11.06(b)(iii), and (v) (subject to such consents, if any, as may be required under Section 11.06(b)(iii)). 

“Eligible Inventory” means Inventory owned by a Borrower which has not been deemed unacceptable as Eligible
Inventory by the Administrative Agent in the exercise of its Credit Judgment; provided that no Inventory shall be Eligible Inventory unless it (a) is finished goods, raw materials, purchase parts or work-in-process and not packaging or
shipping materials, labels, samples, display items, bags, replacement parts or manufacturing supplies; (b) is not held on consignment, nor subject to any deposit or downpayment; (c) is not damaged, defective, shopworn or otherwise unfit
for sale; (d) is not slow-moving, obsolete or unmerchantable; (e) meets all applicable standards imposed by any applicable Governmental Authority having jurisdiction over where the product is to be sold, and does not constitute hazardous
materials under any Environmental Law; (f) conforms with the covenants and representations herein in all material respects; (g) is subject to the Administrative Agent’s duly perfected, first priority Lien, and no other Lien other than
Permitted Liens (provided that no such Permitted Lien is prior to the Lien of the Administrative Agent); (h) is within the continental United States or Canada, is not in transit except between locations of Borrowers (or between locations of
Borrowers and processors or vendors in the Ordinary Course of Business), and is not consigned to any Person; (i) is not subject to any warehouse receipt or negotiable Document; (j) is not subject to any License or other arrangement that
restricts such Borrower’s or the Administrative Agent’s right to dispose of such Inventory, unless the Administrative Agent has received an appropriate Lien Waiver; and (k) is not located on leased premises or in the possession of a
warehouseman, processor, repairman, mechanic, shipper, freight forwarder or other Person, unless the lessor or such Person has delivered a Lien Waiver or an appropriate Rent and Charges Reserve has been established; provided, however,
except as set forth in the definition of Inventory Formula Amount, none of the Inventory of any Person acquired or created in an Acquisition shall be included in the calculation of the Borrowing Base until the Administrative Agent has conducted
Field Exams and appraisals reasonably required by it with results reasonably satisfactory to the Agent and the Person owning such Inventory shall be a (directly or indirectly) wholly-owned Subsidiary of the Company and have become a Borrower.

 “EMU Legislation” means the legislative measures of the European Council for the introduction of,
changeover to or operation of a single or unified European currency. 
 “Environmental Laws” means any
and all Federal, state, local, and foreign statutes, laws, regulations, ordinances, rules, judgments, orders, decrees, permits, concessions, grants, franchises, licenses, agreements or governmental restrictions relating to pollution and the
protection of the environment or the release of any materials into the environment, including those related to hazardous substances or wastes, air emissions and discharges to waste or public systems. 

“Environmental Liability” means any liability, contingent or otherwise (including any liability for damages,
costs of environmental remediation, fines, penalties or indemnities), of the Company, any other Borrower or any of their respective Subsidiaries directly or indirectly resulting from or based upon (a) violation of any Environmental Law,
(b) the generation, use, handling, transportation, storage, treatment or disposal of any Hazardous Materials, (c) exposure 

 

 17 

 
to any Hazardous Materials, (d) the release or threatened release of any Hazardous Materials into the environment or (e) any contract, agreement or other consensual arrangement pursuant
to which liability is assumed or imposed with respect to any of the foregoing. 
 “Equity Interests”
means, with respect to any Person, all of the shares of capital stock of (or other ownership or profit interests in) such Person, all of the warrants, options or other rights for the purchase or acquisition from such Person of shares of capital
stock of (or other ownership or profit interests in) such Person, all of the securities convertible into or exchangeable for shares of capital stock of (or other ownership or profit interests in) such Person or warrants, rights or options for the
purchase or acquisition from such Person of such shares (or such other interests), and all of the other ownership or profit interests in such Person (including partnership, member or trust interests therein), whether voting or nonvoting, and whether
or not such shares, warrants, options, rights or other interests are outstanding on any date of determination. 

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

“ERISA Affiliate” means any trade or business (whether or not incorporated) under common control with the Company
within the meaning of section 414(b) or (c) of the Code (and sections 414(m) and (o) of the Code for purposes of provisions relating to section 412 of the Code). 

“ERISA Event” means (a) a Reportable Event with respect to a Pension Plan; (b) the
withdrawal of the Company or any ERISA Affiliate from a Pension Plan subject to Section 4063 of ERISA during a plan year in which such entity was a “substantial employer” as defined in Section 4001(a)(2) of ERISA or a cessation
of operations that is treated as such a withdrawal under Section 4062(e) of ERISA; (c) a complete or partial withdrawal by the Company or any ERISA Affiliate from a Multiemployer Plan or notification that a Multiemployer Plan is in
reorganization; (d) the filing of a notice of intent to terminate or the treatment of a Pension Plan or Multiemployer Plan amendment as a termination under Section 4041 or 4041A of ERISA; (e) the institution by the PBGC of proceedings
to terminate a Pension Plan or Multiemployer Plan; (f) any event or condition which constitutes grounds under Section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any Pension Plan; (g) the
determination that any Pension Plan or Multiemployer Plan is considered an at-risk plan or a plan in endangered or critical status within the meaning of Sections 430, 431 and 432 of the Code or Sections 303, 304 and 305 of ERISA; or (h) the
imposition of any liability under Title IV of ERISA, other than for PBGC premiums due but not delinquent under Section 4007 of ERISA, upon the Company or any ERISA Affiliate. 

“Euro” and “EUR” mean the lawful currency of the Participating Member States introduced
in accordance with the EMU Legislation. 
 “Eurocurrency Rate” means: 

(a) with respect to each Eurocurrency Rate Loan, for any Interest Period with respect to a Eurocurrency Rate Loan, the rate per annum
equal to (i) the British Bankers Association LIBOR Rate (“BBA LIBOR”), as published by Reuters (or other commercially available source providing quotations of BBA LIBOR as designated by the Administrative Agent from time
to 
  

 18 

 
time) at approximately 11:00 a.m., London time, two London Banking Days prior to the commencement of such Interest Period, for Dollar deposits (for delivery on the first day of such Interest
Period) with a term equivalent to such Interest Period or, (ii) if such rate is not available at such time for any reason, then the “Eurocurrency Rate” for such Interest Period shall be the rate per annum determined by the
Administrative Agent to be the rate at which deposits in Dollars for delivery on the first day of such Interest Period in Same Day Funds in the approximate amount of the Eurocurrency Rate Loan being made, continued or converted by Bank of America
and with a term equivalent to such Interest Period would be offered by Bank of America’s London Branch to major banks in the London interbank eurodollar market at their request at approximately 11:00 a.m. (London time) two London Banking Days
prior to the commencement of such Interest Period; and 
 (b) for any interest calculation with respect to a Base Rate Loan, the
rate per annum equal to (i) BBA LIBOR, at approximately 11:00 a.m., London time determined daily on each Business Day (or as to any day that is not a London Banking Day, on the next preceding London Banking Day) for Dollar deposits being
delivered in the London interbank market for a term of one month commencing that day or (ii) if such published rate is not available at such time for any reason, the rate per annum determined by the Administrative Agent to be the rate at which
deposits in Dollars for delivery on the date of determination in same day funds in the approximate amount of the Base Rate Loan being made or maintained by Bank of America and with a term equal to one month would be offered by Bank of America’s
London Branch to major banks in the London interbank Eurocurrency market at their request at the date and time of determination. 

“Eurocurrency Rate Loan” means a Revolving Loan that bears interest at a rate based on clause (a) of the
definition of “Eurocurrency Rate”. 
 “Event of Default” has the meaning specified in
Section 9.01. 
 “Exchange Act” means the Securities Exchange Act of 1934 and the
regulations promulgated thereunder. 
 “Excluded Capital Expenditures” means Consolidated Capital
Expenditures (a) financed with Indebtedness permitted hereunder other than Revolving Loans, or (b) made with (i) net proceeds from Dispositions permitted under clauses (a), (c), (e), (f) or (h) of Section 8.05,
or (ii) proceeds of insurance arising from any casualty or other insured damage or from condemnation or similar awards with respect to any property or asset. 

“Excluded Deposit Account” means any Deposit Account (a) used exclusively for payroll, payroll taxes,
employee benefits or similar operational disbursements, (b) maintained in the Ordinary Course of Business containing not more than $200,000 at the end of any Business Day or (c) maintained in the Ordinary Course of Business containing not
more than $500,000 for a period of not more than three consecutive Business Days at any time (and not more than $500,000 in the aggregate at the end of any Business Day for all such Excluded Deposit Accounts arising under clauses (b) and (c)).

  

 19 

 “Excluded Taxes” means, with respect to the Administrative Agent,
any Lender, the L/C Issuer or any other recipient of any payment to be made by or on account of any obligation of the Borrowers hereunder or under any Loan Document, (a) taxes imposed on or measured by its overall net income (however
denominated), and franchise taxes imposed on it (in lieu of net income taxes), by the jurisdiction (or any political subdivision thereof) under the laws of which such recipient is organized or in which its principal office is located (or, in the
case of any Lender, in which its applicable Lending Office is located), (b) any branch profits taxes imposed by the United States or any similar tax imposed by any other jurisdiction in which a Borrower is located, (c) any backup
withholding tax that is required by the Code to be withheld from amounts payable to a Lender that has failed to comply with clause (A) of Section 4.01(e)(ii), (d) Taxes imposed by reason of Sections 1471 or 1472 of the Code,
and (e) in the case of any Foreign Lender (other than an assignee pursuant to a request by the Borrower Agent under Section 11.13), any United States withholding tax that (i) is required to be imposed on amounts payable to such
Foreign Lender pursuant to the Laws in force at the time such Foreign Lender becomes a party hereto (or designates a new Lending Office) or (ii) is attributable to such Foreign Lender’s failure or inability (other than as a result of a
Change in Law) to comply with clause (B) of Section 4.01(e)(ii), except to the extent that such Foreign Lender (or its assignor, if any) was entitled, at the time of designation of a new Lending Office (or assignment), to receive
additional amounts from the Borrowers with respect to such withholding tax pursuant to Section 4.01(a)(ii) or (c). 

“Existing Agreement” means that certain Amended and Restated Credit Agreement dated as of May 24, 2007,
among the Company, Mueller Group, Bank of America, as administrative agent, and a syndicate of lenders, as amended through the Closing Date. 

“Existing Letters of Credit” means the letter of credit issued and outstanding under the Existing Agreement which
are identified on Schedule 1.02 hereto. 
 “Facility Termination Date” means the date as of
which all of the following shall have occurred: (a) the Borrowers shall have permanently terminated the Revolving Credit Facility and by final payment in full in cash of all Outstanding Amounts, together with all accrued and unpaid interest and
fees thereon, other than (i) the undrawn portion of Letters of Credit, and (ii) all fees relating to any Letters of Credit accruing after such date (which fees shall be payable solely for the account of the L/C Issuer and shall be computed
(based on interest rates and the Applicable Rate then in effect) on such undrawn amounts to the respective expiry dates of the Letters of Credit), in each case as have been fully Cash Collateralized or as to which other arrangements with respect
thereto satisfactory to the Administrative Agent and the L/C Issuer shall have been made, (b) the Aggregate Commitments, if any, shall have terminated or expired, and (c) the obligations and liabilities of each Borrower under all Related
Credit Arrangements shall have been fully, finally and irrevocably paid and satisfied in full in cash and the Related Credit Arrangements shall have expired or been terminated, or other arrangements satisfactory to the counterparties shall have been
made with respect thereto; provided that notwithstanding full payment or Cash Collateralization of the Obligations as provided herein, the Administrative Agent shall not be required to terminate its Liens in any Collateral unless, with
respect to any damages the Administrative Agent may incur as a result of the dishonor or return of Payment Items applied to Obligations, the Administrative Agent receives (a) a written agreement, executed by Borrowers and any Person whose
advances are used in whole or in part to satisfy the 
  

 20 

 
Obligations, indemnifying the Administrative Agent and Lenders from any such damages; or (b) such Cash Collateral as the Administrative Agent, in its discretion, deems necessary to protect
against any such damages. 
 “Field Exam” means any visit and inspection of the properties, assets and
records of any Borrower during the term of this Agreement in accordance with the provisions set forth herein, which shall include access to such properties, assets and records sufficient to permit the Administrative Agent or its representatives to
examine, audit and make extracts from any Borrower’s books and records, make examinations and audits of any Borrower’s other financial matters and Collateral as Administrative Agent deems appropriate in its Credit Judgment, and discussions
with its officers, employees, agents, advisors and independent accountants regarding such Borrower’s business, financial condition, assets, prospects and results of operations. 

“Fiscal Month” means each fiscal month of the Company and its Subsidiaries as established by the Company from
time to time, it being understood that the end of each Fiscal Month shall correspond with the latest closure of such Fiscal Month for the Company or any of its Subsidiaries. 

“Federal Funds Rate” means, for any day, the rate per annum equal to the weighted average of the rates on
overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers on such day, as published by the Federal Reserve Bank of New York on the Business Day next succeeding such day; provided that
(a) if such day is not a Business Day, the Federal Funds Rate for such day shall be such rate on such transactions on the next preceding Business Day as so published on the next succeeding Business Day, and (b) if no such rate is so
published on such next succeeding Business Day, the Federal Funds Rate for such day shall be the average rate (rounded upward, if necessary, to a whole multiple of 1/100 of 1%) charged to Bank of America on such day on such transactions as
determined by the Administrative Agent. 
 “Fixed Charge Trigger Period” means the period
(a) commencing on the day that Availability is less than the Fixed Charge Trigger Threshold and (b) continuing until the date that during the previous thirty (30) consecutive days, Availability has been greater than or equal to the
Fixed Charge Trigger Threshold at all times during such period. 
 “Fixed Charge Trigger Threshold”
means the greater of (a) 12.5% of the Aggregate Commitments at such time and (b) $34,000,000. 
 “Foreign
Benefit Law” means any Law of any foreign nation or any province, state, territory, protectorate or other political subdivision thereof regulating, relating to, or imposing liability or standards of conduct concerning, any Plan or
Pension Plan. 
 “Foreign Lender” means any Lender that is organized under the laws of a jurisdiction
other than that in which the Company is resident for tax purposes. For purposes of this definition, the United States, each State thereof and the District of Columbia shall be deemed to constitute a single jurisdiction. 

“Foreign Pension Plan” means any plan, arrangement, understanding or scheme maintained by the Company or any
Subsidiary that provides retirement or deferred compensation 
  

 21 

 
benefits covering any employee or former employee and which is administered under any Foreign Benefit Law or regulated by any Governmental Authority other than the United States. 

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

“FRB” means the Board of Governors of the Federal Reserve System of the United States. 

“Fronting Exposure” means, at any time there is a Defaulting Lender, (a) with respect to the L/C Issuer,
such Defaulting Lender’s Pro Rata Share of the outstanding L/C Obligations other than L/C Obligations as to which such Defaulting Lender’s participation obligation has been reallocated to other Lenders or Cash Collateralized in accordance
with the terms hereof, (b) with respect to the Swing Line Lender, such Defaulting Lender’s Pro Rata Share of Swing Line Loans other than Swing Line Loans as to which such Defaulting Lender’s participation obligation has been
reallocated to other Lenders or Cash Collateralized in accordance with the terms hereof and (c) with respect to the Administrative Agent, such Defaulting Lender’s Pro Rata Share of Protective Advances other than Protective Advances as to
which such Defaulting Lender’s participation obligation has been reallocated to other Lenders or Cash Collateralized in accordance with the terms hereof. 

“Fund” means any Person (other than a natural person) that is (or will be) engaged in making, purchasing, holding
or otherwise investing in commercial loans and similar extensions of credit in the ordinary course. 

“GAAP” means generally accepted accounting principles in the United States as published by the Financial
Accounting Standards Board or such other principles as may be approved by a significant segment of the accounting profession in the United States, that are applicable to the circumstances as of the date of determination, consistently applied.

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

“Granting Lender” has the meaning specified in Section 11.06(h). 

“Guarantee” means, as to any Person, any (a) any obligation, contingent or otherwise, of such Person
guaranteeing or having the economic effect of guaranteeing any Indebtedness or other obligation payable or performable by another Person (the “primary obligor”) in any manner, whether directly or indirectly, and including any obligation of
such Person, direct or indirect, (i) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other obligation, (ii) to purchase or lease property, securities or services for the purpose of
assuring the obligee in respect of such Indebtedness or other obligation of the payment or performance of such Indebtedness or other obligation, (iii) to maintain working capital, equity capital or any other financial statement condition or
liquidity or level of income or cash flow of the primary obligor so as to enable the primary obligor to pay such Indebtedness or 

 

 22 

 
other obligation, or (iv) entered into for the purpose of assuring in any other manner the obligee in respect of such Indebtedness or other obligation of the payment or performance thereof
or to protect such obligee against loss in respect thereof (in whole or in part), or (b) any Lien on any assets of such Person securing any Indebtedness or other obligation of any other Person, whether or not such Indebtedness or other
obligation is assumed by such Person (or any right, contingent or otherwise, of any holder of such Indebtedness to obtain any such Lien). The amount of any Guarantee shall be deemed to be an amount equal to the stated or determinable amount of the
related primary obligation, or portion thereof, in respect of which such Guarantee is made or, if not stated or determinable, the maximum reasonably anticipated liability in respect thereof as determined by the guaranteeing Person in good faith. The
term “Guarantee” as a verb has a corresponding meaning. 
 “Guarantor Payment” has the meaning
specified in Section 2.16(c). 
 “Hazardous Materials” means all explosive or radioactive
substances or wastes and all hazardous or toxic substances, wastes or other pollutants, including petroleum or petroleum distillates, asbestos or asbestos-containing materials, polychlorinated biphenyls, radon gas, infectious or medical wastes and
all other substances or wastes of any nature regulated pursuant to any Environmental Law. 
 “Honor
Date” has the meaning set forth in Section 2.04(c). 
 “Indebtedness” means, as
to any Person at a particular time, without duplication, all of the following, whether or not included as indebtedness or liabilities in accordance with GAAP: 

(a) all obligations of such Person for borrowed money and all obligations of such Person evidenced by bonds, debentures,
notes, loan agreements or other similar instruments; 
 (b) all direct or contingent obligations of such Person
arising under letters of credit (including standby and commercial), bankers’ acceptances, bank guaranties, surety bonds and similar instruments; 

(c) net obligations of such Person under any Swap Contract; 

(d) all obligations of such Person to pay the deferred purchase price of property or services (other than trade accounts
payable in the Ordinary Course of Business); 
 (e) indebtedness (excluding prepaid interest thereon) secured by
a Lien on property owned or being purchased by such Person (including indebtedness arising under conditional sales or other title retention agreements), whether or not such indebtedness shall have been assumed by such Person or is limited in
recourse; 
 (f) capital leases and Synthetic Lease Obligations of such Person; 

(g) all obligations of such Person with respect to the redemption, repayment or other repurchase or payment in respect of
any Disqualified Equity Interest; and 
  

 23 

 (h) all Guarantees of such Person in respect of any of the foregoing.

 For all purposes hereof, the Indebtedness of any Person shall include the Indebtedness of any partnership or joint venture
(other than a joint venture that is itself a corporation or limited liability company) in which such Person is a general partner or a joint venturer, to the extent such Indebtedness is recourse to such Person. The amount of any net obligation under
any Swap Contract on any date shall be deemed to be the Swap Termination Value thereof as of such date. The amount of any capital lease or Synthetic Lease Obligation as of any date shall be deemed to be the amount of Attributable Indebtedness in
respect thereof as of such date. 
 “Indemnified Taxes” means Taxes other than Excluded Taxes.

 “Indemnitees” has the meaning specified in Section 11.04. 

“Information” has the meaning specified in Section 11.07. 

“Interest Payment Date” means, (a) as to any Eurocurrency Rate Loan, (i) the last day of the relevant
Interest Period, (ii) if the Interest Period is greater than one month, the first day of each month with respect to interest accrued through the last day of each month ending immediately prior to such date, (iii) any date that such Loan is
prepaid or converted, in whole or in part, and (iv) the Revolving Credit Maturity Date; and (b) as to any Base Rate Loan (including a Swing Line Loan), (i) the first day of each month with respect to interest accrued through the last
day of each month ending immediately prior to such date, (ii) any date that such Loan is prepaid or converted, in whole or in part, and (iii) the Revolving Credit Maturity Date; provided, further, that interest accruing at
the Default Rate shall be payable from time to time upon demand of the Administrative Agent. 
 “Interest
Period” means, as to each Eurocurrency Rate Loan, the period commencing on the date such Eurocurrency Rate Loan is disbursed or converted to or continued as a Eurocurrency Rate Loan and ending, in each case, on the date one, two, three
or six months thereafter, as selected by the Borrower Agent in its Revolving Loan Notice; provided that: 

(i) any Interest Period that would otherwise end on a day that is not a Business Day shall be extended to the next
succeeding Business Day unless such Business Day falls in another calendar month, in which case such Interest Period shall end on the next preceding Business Day; 

(ii) 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 

(iii) no Interest Period shall extend beyond the Revolving Credit Maturity Date. 

“Inventory Formula Amount” means the lesser of (i) 65% of the Value of Eligible Inventory; or (ii) 85%
of the NOLV Percentage of the Value of Eligible Inventory; provided that, notwithstanding the exclusion under the proviso in the definition of “Eligible Inventory”, 

 

 24 

 
(a) 35% of the Value of Inventory purchased or otherwise acquired by a Borrower in an Acquisition permitted under Section 8.13 (as such Value is reflected on the financial
statements of the target of such Acquisition (or if such statements are not available or not applicable, as reasonably estimated by the Borrower Agent and approved by the Administrative Agent)) shall be included on and from the date of the
consummation of the Acquisition in the calculation of the Borrowing Base (including for the purpose of determining Availability for Loans being made hereunder on the date of the consummation of such Acquisition to pay consideration owed in respect
thereof) until the earlier of (i) 90 days following the consummation of the Acquisition pursuant to which such Inventory was acquired or (ii) such time as the Administrative Agent has completed a customary due diligence investigation as to
such Inventory and such target (which investigation may, at the sole discretion of the Administrative Agent, include a Field Exam and appraisals) with results satisfactory to the Administrative Agent, at which time the actual Value and eligibility
of such Inventory under the Borrowing Base shall be calculated and implemented accordingly, and (b) 35% of the Value of Inventory to be purchased or otherwise acquired by a Borrower in an Acquisition permitted under Section 8.13
shall be included for the purpose of determining Availability in the calculation of Pro Forma Availability in connection with such Acquisition; provided, however, that in each case of clause (a) and (b), in no event shall the sum
of the Value of such acquired Inventory included in the Borrowing Base, Availability and Pro Forma Availability plus the Value of the acquired Accounts included n the Borrowing Base, Availability and Pro Forma Availability pursuant to the
definition of “Accounts Formula Amount” exceed $15,000,000. 
 “Inventory Reserve” means
reserves established by Administrative Agent in its Credit Judgment to reflect factors that may negatively impact the Value of Inventory, including change in salability, obsolescence, seasonality, theft, shrinkage, imbalance, change in composition
or mix, markdowns and vendor chargebacks. 
 “Investment” means, as to any Person, any direct or
indirect acquisition or investment by such Person, whether by means of (a) the purchase or other acquisition of capital stock or other securities of another Person, (b) a loan, advance or capital contribution to, Guarantee or assumption of
debt of, or purchase or other acquisition of any other debt or equity participation or interest in, another Person, including any partnership or joint venture interest in such other Person and any arrangement pursuant to which the investor
Guarantees Indebtedness of such other Person, or (c) the purchase or other acquisition (in one transaction or a series of transactions) of assets of another Person that constitute a business unit. For purposes of covenant compliance, the amount
of any Investment shall be the amount actually invested, without adjustment for subsequent increases or decreases in the value of such Investment, less all returns of principal or equity thereon (and without adjustment by reason of the financial
condition of such other Person) and shall, if made by the transfer or exchange of property other than cash, be deemed to have been made in an original principal or capital amount equal to the fair market value of such property at the time of such
transfer or exchange. 
 “IP Rights” has the meaning set forth in Section 6.17. 

“IRS” means the United States Internal Revenue Service. 

 

 25 

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

“Issuer Documents” means with respect to any Letter of Credit, the Letter of Credit Application, and any other
document, agreement and instrument entered into by the L/C Issuer and any Borrower (or any Subsidiary) or in favor the L/C Issuer and relating to any such Letter of Credit. 

“Joinder Agreements” means, collectively, the Borrower Joinder Agreements and the Security Joinder Agreements.

 “JPMorgan” means JPMorgan Chase Bank, N. A. 

“JPMS” means J.P. Morgan Securities Inc. 

“Landlord Lien State” means Pennsylvania, Virginia, Washington, and such other state(s) determined by the
Administrative Agent in its Credit Judgment in which a landlord’s claim for rent may have priority over the Liens of the Administrative Agent granted herein. 

“Laws” means, collectively, all international, foreign, Federal, state and local statutes, treaties, rules,
regulations, ordinances, codes and administrative or judicial precedents or authorities, including the interpretation or administration thereof by any Governmental Authority charged with the enforcement, interpretation or administration thereof, and
all applicable administrative orders, directed duties, requests, licenses, authorizations and permits of, and agreements with, any Governmental Authority, in each case whether or not having the force of law. 

“L/C Advance” means each Revolving Lender’s funding of its participation in any L/C Borrowing in accordance
with its Pro Rata Share. All L/C Advances shall be denominated in Dollars. 
 “L/C Borrowing” means an
extension of credit resulting from a drawing under any Letter of Credit which has not been reimbursed on the date when made or refinanced as a Revolving Borrowing. All L/C Borrowings shall be denominated in Dollars. 

“L/C Credit Extension” means, with respect to any Letter of Credit, the issuance thereof or extension of the
expiry date thereof, or the renewal or increase of the amount thereof. 
 “L/C Obligations” means, as at
any date of determination, (a) the aggregate undrawn amount of all outstanding Letters of Credit, plus (b) the aggregate of all Unreimbursed Amounts, including all L/C Borrowings, plus (c) if a Default or Event of
Default has occurred and is continuing, the aggregate amount of all Letter of Credit Fees. For purposes of computing the amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance
with Section 1.07. For all purposes of this Agreement, if on any date of determination a Letter of Credit has expired by its terms but any amount may still be drawn thereunder by reason of the operation of Rule 3.14 of the ISP, such
Letter of Credit shall be deemed to be “outstanding” in the amount so remaining available to be drawn. 
  

 26 

 “L/C Reserve” means the Dollar Equivalent amount of the aggregate of
all L/C Obligations, other than (a) those that have been Cash Collateralized in an amount equal to (i) 100% of the Dollar Equivalent amount of such L/C Obligations so long as the circumstances in clause (ii) are not applicable or
(ii) at the option of the Administrative Agent, 105% of the Dollar Equivalent amount of such L/C Obligations if any Default or Event of Default shall have occurred and be continuing, the Letter of Credit Expiration Date shall have occurred or
the Revolving Credit Commitments shall have terminated or have expired; and (b) if no Default or Event of Default exists, those amounts described in clause (c) of the definition of L/C Obligations. 

“L/C Issuer” means each of Bank of America and JPMorgan, each in its capacity as an issuer of Letters of Credit
hereunder, or any successor issuer of Letters of Credit hereunder. At any time there is more than one L/C Issuer, all singular references to the L/C Issuer shall mean any L/C Issuer, either L/C Issuer, each L/C Issuer, the L/C Issuer that has issued
the applicable Letter of Credit, or both L/C Issuers, as the context may require. 
 “Lender” has the
meaning specified in the introductory paragraph hereto and, as the context requires, includes the L/C Issuer and the Swing Line Lender. 

“Lending Office” means, as to any Lender, the office or offices of such Lender described as such in such
Lender’s Administrative Questionnaire, or such other office or offices as a Lender may from time to time notify the Borrower Agent and the Administrative Agent. 

“Letter of Credit” means any letter of credit issued hereunder, and shall include the Existing Letters of Credit.
A Letter of Credit may be a commercial letter of credit or a standby letter of credit. Letters of Credit may be issued in Dollars or in an Alternative Currency. 

“Letter of Credit Application” means an application and agreement for the issuance or amendment of a Letter of
Credit in the form from time to time in use by the L/C Issuer. 
 “Letter of Credit Expiration Date”
means the day that is five days prior to the Revolving Credit Maturity Date then in effect (or, if such day is not a Business Day, the next preceding Business Day). 

“Letter of Credit Fees” means, collectively or individually as the context may indicate, the fees with respect to
Letters of Credit described in Section 2.04(h). 
 “Letter of Credit Sublimit” means an
amount equal to the lesser of (a) $60,000,000 and (b) the Aggregate Commitments. The Letter of Credit Sublimit is part of, and not in addition to, the Aggregate Commitments. 

“License” means any license or agreement under which a Borrower is granted IP Rights in connection with any
manufacture, marketing, distribution or disposition of Collateral, any use of assets or property or any other conduct of its business. 

“Lien” means any mortgage, pledge, hypothecation, assignment, deposit arrangement, encumbrance, lien (statutory
or other), charge, or preference, priority or other security interest or preferential arrangement in the nature of a security interest of any kind or nature whatsoever 

 

 27 

 
(including any conditional sale or other title retention agreement, any easement, right of way or other encumbrance on title to real property, and any financing lease having substantially the
same economic effect as any of the foregoing). 
 “Lien Waiver” means an agreement, in form and
substance satisfactory to Administrative Agent in the exercise of its reasonable discretion, which may provide for (a) for any material Collateral located on leased premises, the lessor waives or subordinates any Lien it may have on the
Collateral, and agrees to permit Agent to enter upon the premises and remove the Collateral or to use the premises to store or dispose of the Collateral; (b) for any Collateral held by a warehouseman, processor, shipper, customs broker or
freight forwarder, such Person waives or subordinates any Lien it may have on the Collateral, agrees to hold any Documents in its possession relating to the Collateral as agent for Agent, and agrees to deliver the Collateral to Agent upon request;
(c) for any Collateral held by a repairman, mechanic or bailee, such Person acknowledges Agent’s Lien, waives or subordinates any Lien it may have on the Collateral, and agrees to deliver the Collateral to Agent upon request; and
(d) for any Collateral subject to a Licensor’s Intellectual Property rights, the Licensor grants to Agent the right, vis-à-vis such Licensor, to enforce Agent’s Liens with respect to the Collateral, including the right to
dispose of it with the benefit of the Intellectual Property, whether or not a default exists under any applicable License. 

“Loan” means an extension of credit under Article II in the form of a Revolving Loan, a Swing Line Loan,
an Overadvance Loan or a Protective Advance. 
 “Loan Account” has the meaning specified in
Section 2.12(a). 
 “Loan Cap” means, on any date of determination, an amount equal to the
lesser of (a) the Aggregate Commitments, minus (only to the extent the Borrowing Base is greater than the Aggregate Commitments) the Availability Reserve; or (b) the Borrowing Base. 

“Loan Documents” means this Agreement, each Revolving Loan Note, each Security Instrument, each Revolving Loan
Notice, each Issuer Document, each Compliance Certificate, any agreement creating or perfecting rights in Cash Collateral pursuant to the provisions of Section 2.17 and all other instruments and documents heretofore or hereafter executed
or delivered to or in favor of any Lender or the Administrative Agent in connection with the Loans made and transactions contemplated by this Agreement. 

“London Banking Day” means any day on which dealings in Dollar deposits are conducted by and between banks in the
London interbank eurodollar market. 
 “Material Adverse Effect” means (a) a material adverse
change in, or a material adverse effect on, the operations, business, assets, properties, liabilities (actual or contingent), or condition (financial or otherwise) of the Company and the other Borrowers, taken as a whole; (b) a material
impairment of the ability of any Borrower to perform its obligations under any Loan Document to which it is a party; or (c) a material adverse effect upon the legality, validity, binding effect or enforceability against any Borrower of any Loan
Document to which it is a party or on the ability of the Administrative Agent to realize upon any material portion of the Collateral. 
  

 28 

 “Material Subsidiary” means, as of any date of determination
thereof, each direct or indirect Restricted Subsidiary of the Company that (a) holds, owns or contributes, as the case may be, 3% or more of the net sales, assets (including Equity Interests in other Subsidiaries) or Consolidated EBITDA of the
Company and the Restricted Subsidiaries, on a consolidated basis (calculated as of the most recent fiscal period with respect to which the Administrative Agent shall have received financial statements required to be delivered pursuant to Sections
7.01(a) or (b) or if prior to delivery of any financial statements pursuant to such Sections, then calculated with respect to the financial statements dated as of June 30, 2010), (b) is designated by the Borrower Agent as a
Material Subsidiary, or (c) Guarantees any Permitted Subordinated Debt. The Borrower Agent shall designate one or more Restricted Subsidiaries as Material Subsidiaries if, in the absence of such designation, the aggregate net sales, assets
(including Equity Interests in other Subsidiaries) or contribution to Consolidated EBITDA of all Restricted Subsidiaries that are not Material Subsidiaries would exceed 3% of the net sales, assets or Consolidated EBITDA (calculated as of the most
recent fiscal period with respect to which the Administrative Agent shall have received financial statements required to be delivered pursuant to Sections 7.01(a) or (b) or if prior to delivery of any financial statements pursuant
to such Sections, then calculated with respect to the financial statements dated as of June 30, 2010). 

“Measurement Period” means, at any date of determination, the most recently completed twelve
(12) consecutive Fiscal Months of the Company and its Subsidiaries for which financial statements have or should have been delivered in accordance with Section 7.01(a) or (b). 

“Moody’s” means Moody’s Investors Service, Inc. and any successor thereto. 

“Multiemployer Plan” means any employee benefit plan of the type described in Section 4001(a)(3) of ERISA,
to which the Company or any ERISA Affiliate makes or is obligated to make contributions, or during the preceding five plan years, has made or been obligated to make contributions. 

“Multiple Employer Plan” means a Plan which has two or more contributing sponsors (including any Borrower or any
ERISA Affiliate) at least two of whom are not under common control, as such a plan is described in Section 4064 of ERISA. 

“Net Cash Proceeds” means, with respect to the sale of any asset by the Company or any Restricted Subsidiary
pursuant to Section 8.05(g), the excess, if any, of (i) the sum of the cash and cash equivalents received in connection with such sale (including any cash received by way of deferred payment pursuant to, or by monetization of, a
note receivable or otherwise, but only as and when so received) over (ii) the sum of (A) the principal amount of any Indebtedness that is secured by such asset and that is required to be repaid in connection with the sale thereof
(other than Indebtedness under the Loan Documents and Indebtedness owing to the Company or any Restricted Subsidiary), (B) the out-of-pocket expenses incurred by the Company or any Restricted Subsidiary in connection with such sale, including
any brokerage commissions, underwriting fees and discount, legal fees, finder’s fees and other similar fees and commissions, (C) taxes paid or reasonably estimated to be payable by the Company or any Restricted Subsidiary in connection
with the relevant asset sale, (D) the amount of any reasonable reserve required to be established in accordance with GAAP against liabilities (other than taxes deducted pursuant to clause (C) above) to the extent such reserves are
(x) associated with the assets that 
  

 29 

 
are the object of such sale and (y) retained by the Company or any Restricted Subsidiary, and (E) the amount of any reasonable reserve for purchase price adjustments and retained fixed
liabilities reasonably expected to be payable by the Company or any Restricted Subsidiary in connection therewith to the extent such reserves are (1) associated with the assets that are the object of such sale and (2) retained by the
Company or any Restricted Subsidiary; provided that the amount of any subsequent reduction of any reserve provided for in clause (D) or (E) above (other than in connection with a payment in respect of such liability)
shall (X) be deemed to be Net Cash Proceeds of such asset sale occurring on the date of such reduction, and (Y) immediately be applied to the prepayment of Loans in accordance with Section 2.06(d); 

“NOLV Percentage” means the net orderly liquidation value of Inventory, expressed as a percentage, expected to be
realized at an orderly, negotiated sale held within a reasonable period of time, net of all liquidation expenses, as determined from the most recent appraisal of Borrowers’ Inventory performed by an appraiser and on terms satisfactory to
Administrative Agent in the exercise of its reasonable discretion. 
 “Obligations” means all advances
to, and debts, liabilities, obligations, covenants and duties of, any Borrower arising under any Loan Document or otherwise with respect to any Loan, Letter of Credit, or arising under any Related Credit Arrangement, in each case whether direct or
indirect (including those acquired by assumption), absolute or contingent, due or to become due, now existing or hereafter arising and including interest and fees that accrue after the commencement by or against any Borrower or any Affiliate thereof
of any proceeding under any Debtor Relief Laws naming such Person as the debtor in such proceeding, regardless of whether such interest and fees are allowed claims in such proceeding. 

“OFAC” means the U.S. Department of the Treasury’s Office of Foreign Assets Control. 

“Ordinary Course of Business” means the ordinary course of business of the Company and its Subsidiaries,
undertaken in good faith. 
 “Organization Documents” means, (a) with respect to any corporation,
the certificate or articles of incorporation and the bylaws (or equivalent or comparable constitutive documents with respect to any non-U.S. jurisdiction); (b) with respect to any limited liability company, the certificate or articles of
formation or organization and operating agreement; and (c) with respect to any partnership, joint venture, trust or other form of business entity, the partnership, joint venture or other applicable agreement of formation or organization and any
agreement, instrument, filing or notice with respect thereto filed in connection with its formation or organization with the applicable Governmental Authority in the jurisdiction of its formation or organization and, if applicable, any certificate
or articles of formation or organization of such entity. 
 “Other Taxes” means all present or future
stamp or documentary taxes or any other excise or property taxes, charges or similar levies arising from any payment made hereunder or under any other Loan Document or from the execution, delivery or enforcement of, or otherwise with respect to,
this Agreement or any other Loan Document. 
 “Outstanding Amount” means (a) with respect to
Revolving Loans on any date, the aggregate outstanding principal amount thereof after giving effect to any Revolving Borrowings and any prepayments or repayments of Revolving Loans occurring on such date; (b) with respect

  

 30 

 
to Swing Line Loans on any date, the aggregate outstanding principal amount thereof after giving effect to any borrowings and prepayments or repayments of Swing Line Loans occurring on such date;
and (c) with respect to any L/C Obligations on any date, the Dollar Equivalent amount of the aggregate outstanding amount of such L/C Obligations on such date after giving effect to any L/C Credit Extension occurring on such date and any other
changes in the aggregate amount of the L/C Obligations as of such date, including as a result of any reimbursements of amounts paid under outstanding unpaid drawings under any Letters of Credit or any reductions in the maximum amount available for
drawing under Letters of Credit taking effect on such date. 
 “Overadvance” has the meaning given to
such term in Section 2.03(g). 
 “Overadvance Loan” means a Base Rate Revolving Loan made
when an Overadvance exists or is caused by the funding thereof. 
 “Overnight Rate” means, for any day,
(a) with respect to any amount denominated in Dollars, the greater of (i) the Federal Funds Rate and (ii) an overnight rate determined by the Administrative Agent, the L/C Issuer or the Swing Line Lender, as the case may be, in
accordance with banking industry rules on interbank compensation, and (b) with respect to any amount denominated in an Alternative Currency, the rate of interest per annum at which overnight deposits in the applicable Alternative Currency, in
an amount approximately equal to the amount with respect to which such rate is being determined, would be offered for such day by a branch or Affiliate of Bank of America in the applicable offshore interbank market for such currency to major banks
in such interbank market. 
 “Participant” has the meaning specified in Section 11.06(d).

 “Payment Item” means each check, draft or other item of payment payable to a Borrower, including
those constituting proceeds of any Collateral. 
 “PBGC” means the Pension Benefit Guaranty Corporation.

 “Pension Act” means the Pension Protection Act of 2006. 

“Pension Funding Rules” means the rules of the Code and ERISA regarding minimum required contributions (including
any installment payment thereof) to Pension Plans and set forth in, with respect to plan years ending prior to the effective date of the Pension Act, Section 412 of the Code and Section 302 of ERISA, each as in effect prior to the Pension
Act and, thereafter, Section 412, 430, 431, 432 and 436 of the Code and Sections 302, 303, 304 and 305 of ERISA. 

“Pension Plan” means any employee pension benefit plan (including a Multiple Employer Plan, but excluding a
Multiemployer Plan) that is maintained or is contributed to by the Company or any ERISA Affiliate and is either covered by Title IV of ERISA or is subject to the minimum funding standards under Section 412 of the Code. 

“Permitted Liens” means the types of Liens described in clauses (c), (d), and (r) of
Section 8.01. 
  

 31 

 “Permitted Refinancing Indebtedness” means any refinancing,
refunding, renewal or extension of any Indebtedness; provided that (i) the amount of such Indebtedness is not increased at the time of such refinancing, refunding, renewal or extension except by an amount equal to a reasonable premium or
other reasonable amount paid, and fees and expenses reasonably incurred, in connection with such refinancing and by an amount equal to any existing commitments unutilized thereunder, (ii) the average life to maturity of any refinancing,
refunding, renewal or extension of such Indebtedness permitted hereby is not less than the then average life to maturity of the Indebtedness so refinanced or replaced, (iii) the direct or contingent obligors with respect to such Indebtedness
are not changed as a result of or in connection with such refinancing, refunding, renewal or extension in a manner adverse to the Administrative Agent and the Lenders in any material respect and (iv) any refinancing, refunding, renewal or
extension of Indebtedness subordinated to the Obligations shall be on terms no less favorable to the Administrative Agent and the Lenders, and no more restrictive to the Borrowers, than the subordinated Indebtedness being refinanced, refunded,
renewed or extended and in an amount not less than the amount outstanding at the time thereof. 
 “Permitted
Subordinated Debt” means, individually or collectively as the context may indicate, (a) the Subordinated Notes and (b) any other unsecured subordinated notes issued by the Company having terms consistent with the following:
(i) subordination in right of payment to the Obligations pursuant to terms and conditions substantially similar to those set forth in the Subordinated Notes Indenture or other terms and conditions acceptable to the Administrative Agent in the
exercise of its reasonable discretion, (ii) no scheduled payments of principal for at least one year following the Revolving Credit Maturity Date, (iii) commercially reasonable interest rates, (iv) the absence of financial maintenance
covenants, and (v) the absence of covenants or any other terms or conditions that, taken as a whole, are more restrictive than the covenants, terms and restrictions contained in this Agreement and the other applicable Loan Documents;
provided, in each case that such Indebtedness is either exchanged for, or 100% of the proceeds of such Indebtedness is used to repay, redeem or repurchase, in whole or in part, the Subordinated Notes or other Permitted Subordinated Debt and
to pay related premiums, interest, fees, costs and expenses. 
 “Permitted Subordinated Debt Documents”
means all loan agreements, indentures, note purchase agreements, promissory notes, guarantees, and other instruments and agreements evidencing or executed in connection with Permitted Subordinated Debt, in each case as amended, supplemented, amended
and restated or otherwise modified in accordance with Section 8.11. 
 “Person” means any
natural person, corporation, limited liability company, trust, joint venture, association, company, partnership, Governmental Authority or other entity. 

“Plan” means any employee benefit plan within the meaning of Section 3(3) of ERISA (including a Pension
Plan), that is maintained (i) for employees of the Company (or any such plan to which the Company is required to contribute on behalf of its employees); or (ii) for employees of an ERISA Affiliate (or any such plan to which the ERISA
Affiliate is required to contribute on behalf of its employees), but only if the Company or any Borrower could have an obligation to make contributions to such plan. 

 

 32 

 “Platform” has the meaning specified in Section 7.02.

 “Prime Rate” means the rate of interest announced by Bank of America from time to time as its prime
rate. Such rate is set by Bank of America on the basis of various factors, including its 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. Any change in such rate announced by Bank of America shall take effect at the opening of business on the day specified in the public announcement of such change. 

“Pro Forma Availability” means for any date of calculation, the pro forma Availability on such date determined as
if the applicable Acquisition, Investment, Restricted Payment or payment had been consummated on such date. 

“Properly Contested” means with respect to any obligation of a Borrower, (a) the obligation is subject to a
bona fide dispute regarding amount or such Borrower’s liability to pay; (b) the obligation is being properly contested in good faith by appropriate proceedings promptly instituted and diligently pursued; (c) appropriate reserves have
been established in accordance with GAAP; (d) no Lien is imposed on any Collateral, unless bonded and stayed to the satisfaction of Administrative Agent; and (e) if the obligation results from entry of a judgment or other order, such
judgment or order is stayed pending appeal or other judicial review. 
 “Protective Advance” has the
meaning specified in Section 2.03(h). 
 “Pro Rata Share” means, with respect to each
Revolving Lender at any time, a fraction (expressed as a percentage, carried out to the ninth decimal place), the numerator of which is the amount of the Revolving Credit Commitment of such Revolving Lender at such time, subject to adjustment as
provided in Section 2.18, and the denominator of which is the amount of the Aggregate Commitments at such time; provided that if the Aggregate Commitments have been terminated at such time, then the Pro Rata Share of each
Revolving Lender shall be the Pro Rata Share of such Revolving Lender immediately prior to such termination and after giving effect to any subsequent assignments made pursuant to Section 11.06. The initial Pro Rata Share of each
Revolving Lender is set forth opposite the name of such Revolving Lender on Schedule 2.01 or in the Assignment and Assumption pursuant to which such Revolving Lender becomes a party hereto, as applicable. 

“Register” has the meaning specified in Section 11.06(c). 

“Registered Public Accounting Firm” has the meaning specified in the Securities Laws and shall be independent of
the Company as prescribed in the Securities Laws. 
 “Related Credit Arrangements” means, collectively,
Related Swap Contracts and Related Treasury Management and Other Services. 
 “Related Credit Debt”
means Indebtedness and other obligations of a Borrower arising under Related Credit Arrangements. 
 “Related Credit
Reserve” means the aggregate amount of reserves established by Administrative Agent in amounts set forth in the written notices to the Administrative Agent 

 

 33 

 
referenced in the definition of “Secured Related Credit Obligations” and as such amount may be adjusted by the Administrative Agent based on such notices or otherwise increased, in its
Credit Judgment, from time to time in its discretion in respect of Secured Related Credit Obligations. 
 “Related
Parties” means, with respect to any Person, such Person’s Affiliates and the partners, directors, trustees, officers, employees, agents and advisors of such Person and of such Person’s Affiliates. 

“Related Swap Contract” means all Swap Contracts that are entered into or maintained by any Borrower with a
Lender or Affiliate of a Lender that are not prohibited by the express terms of the Loan Documents. 
 “Related
Treasury Management and Other Services” means (a) all arrangements for the delivery of treasury management services, (b) all commercial credit card, merchant card and purchasing card services; and (c) all other banking
products or services (including leases), other than Letters of Credit, in each case, to or for the benefit of any Borrower which are entered into or maintained with a Lender or Affiliate of a Lender and which are not prohibited by the express terms
of the Loan Documents. 
 “Rent and Charges Reserve” means the aggregate of (a) all past due rent
and other amounts owing by a Borrower to any landlord, warehouseman, processor, repairman, mechanic, shipper, freight forwarder, broker or other Person who possesses any Collateral or could assert a Lien on any Collateral; and (b) a reserve at
least equal to three months rent and other charges that could be payable to any such Person, unless it has executed a Lien Waiver; provided that the Administrative Agent shall not institute a Rent and Charges Reserve (or otherwise exclude
Inventory from the definition of Eligible Inventory) as a result of the failure to deliver an appropriate Lien Waiver with respect to such locations leased as of the Closing Date and thereafter, until 60 days following the Closing Date (or, if
later, within 60 days following the date such location is acquired or leased). 
 “Reportable Event”
means any of the events set forth in Section 4043(c) of ERISA, other than events for which the 30 day notice period has been waived. 

“Request for Credit Extension” means (a) with respect to a Revolving Borrowing, conversion or continuation
of Revolving Loans, a Revolving Loan Notice, (b) with respect to an L/C Credit Extension, a Letter of Credit Application, and (c) with respect to a Swing Line Loan, a Swing Line Loan Notice. 

“Required Lenders” means, as of any date of determination, Lenders having more than 55% of the Aggregate
Commitments or, if the commitment of each Lender to make Loans and the obligation of the L/C Issuers to make L/C Credit Extensions have been terminated pursuant to Section 9.02, Lenders holding in the aggregate more than 55% of the Total
Outstandings (with the aggregate amount of each Revolving Lender’s risk participation and funded participation in L/C Obligations and Swing Line Loans being deemed “held” by such Revolving Lender for purposes of this definition);
provided that any Revolving Credit Commitment of, and the portion of the Total Outstandings (including risk participations in Letters of Credit and Swing Line 

 

 34 

 
Loans) held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Required Lenders. 

“Reserve” means any reserve constituting all or any portion of the Availability Reserve or the Borrowing Base
Reserve. 
 “Responsible Officer” means, with respect to each Borrower, the chief executive officer,
president, chief financial officer, treasurer, controller or assistant treasurer or any vice president of such Borrower. Any document delivered hereunder that is signed by a Responsible Officer of a Borrower shall be conclusively presumed to have
been authorized by all necessary corporate, partnership and/or other action on the part of such Borrower and such Responsible Officer shall be conclusively presumed to have acted on behalf of such Borrower. 

“Restricted Payment” means any dividend or other distribution (whether in cash, securities or other property)
with respect to any capital stock or other Equity Interest of the Company or any Restricted 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 such capital stock or other Equity Interest, or on account of any return of capital to the Company’s stockholders, partners or members (or the equivalent Person thereof).
For avoidance of doubt, payments pursuant to any shared services agreement described in Section 8.08 shall not be deemed to be Restricted Payments. 

“Restricted Subsidiaries” means all Subsidiaries of the Company other than the Unrestricted Subsidiaries.

 “Restrictive Agreement” means an agreement (other than a Loan Document) that conditions or restricts
the right of any Borrower or any other Restricted Subsidiary to declare or make any Restricted Payment. 

“Revaluation Date” means, with respect to any Letter of Credit, each of the following: (a) each date of
issuance of a Letter of Credit denominated in an Alternative Currency, (b) each date of an amendment of any such Letter of Credit having the effect of increasing the amount thereof (solely with respect to the increased amount), (c) each
date of any payment by the L/C Issuer under any Letter of Credit denominated in an Alternative Currency, (d) each date of any Revolving Loan Notice for a Base Rate Loan under Section 2.04(c)(i), (e) each date of payment of
funds in an Alternative Currency by the Administrative Agent to the L/C Issuer pursuant to Section 2.04(c)(ii), and (f) such additional dates as the Administrative Agent or the L/C Issuer shall determine or the Required Lenders
shall require. 
 “Revolving Borrowing” means a borrowing consisting of simultaneous Revolving Loans of
the same Type and, in the case of Eurocurrency Rate Loans, having the same Interest Period, made by each of the Revolving Lenders pursuant to Section 2.02. 

“Revolving Credit Commitment” means, as to each Revolving Lender, its obligation to (a) make Revolving Loans
to the Borrowers pursuant to Section 2.02, (b) purchase participations in L/C Obligations, and (c) purchase participations in Swing Line Loans, in an aggregate principal amount at any one time outstanding not to exceed the
amount set forth opposite such 
  

 35 

 
Revolving Lender’s name on Schedule 2.01 or in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable, as such amount may be adjusted from
time to time in accordance with this Agreement. 
 “Revolving Credit Facility” means the facility
described in Sections 2.02, 2.04 and 2.05 providing for Revolving Loans, Swing Line Loans and Letters of Credit to or for the benefit of the Borrowers by the Revolving Lenders, Swing Line Lender and L/C Issuer, as the case may
be, in the maximum aggregate principal amount at any time outstanding of $275,000,000, as adjusted from time to time pursuant to the terms of this Agreement. 

“Revolving Credit Maturity Date” means the earliest of (a) August 26, 2015, or (b) such earlier
date upon which the Outstanding Amounts under the Revolving Credit Facility, including all accrued and unpaid interest, are required to be paid in full, and all Revolving Credit Commitments terminated, in accordance with the terms hereof.

 “Revolving Lender” means each Lender that has a Revolving Credit Commitment or, following termination
of the Revolving Credit Commitments, has Revolving Loans outstanding or participations in an outstanding Letter of Credit or Swing Line Loan. 

“Revolving Loan” means a Base Rate Loan or a Eurocurrency Rate Loan made to any Borrower pursuant to
Section 2.02, except as otherwise provided herein. 
 “Revolving Loan Note” means a
promissory note made by the Borrowers in favor of a Revolving Lender evidencing Revolving Loans made by such Revolving Lender, substantially in the form of Exhibit C. 

“Revolving Loan Notice” means a notice of (a) a Revolving Borrowing, (b) a conversion of Revolving
Loans from one Type to the other, or (c) a continuation of Eurocurrency Rate Loans, pursuant to Section 2.03(a), which, if in writing, shall be substantially in the form of Exhibit A. 

“Royalties” means all royalties, fees, expense reimbursement and other amounts payable by a Borrower under a
License. 
 “S&P” means Standard & Poor’s Ratings Services, a division of The
McGraw-Hill Companies, Inc. and any successor thereto. 
 “Same Day Funds” means (a) with respect
to disbursements and payments in Dollars, immediately available funds, and (b) with respect to disbursements and payments in an Alternative Currency, same day or other funds as may be determined by the L/C Issuer to be customary in the place of
disbursement or payment for the settlement of international banking transactions in the relevant Alternative Currency. 

“Sanctioned Country” means a country subject to a sanctions program identified on the list maintained by OFAC and
available at http://www.treas.gov/offices/ eotffc/ofac/sanctions/index.html, or as otherwise published from time to time. 

“Sanctioned Person” means (a) a Person named on the list of “Specially Designated Nationals and Blocked
Persons” maintained by OFAC available at http://www.treas.gov/offices/eotffc/ofac/sdn/index.html, or as otherwise published from time to time, or (b) (i) an agency of the government of a Sanctioned Country, (ii) an organization controlled by a
Sanctioned Country, or (iii) a person resident in a Sanctioned Country, to the extent subject to a sanctions program administered by OFAC. 

“Sarbanes-Oxley” means the Sarbanes-Oxley Act of 2002. 

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

 36 

 “Second Lien Obligations” means Indebtedness issued by the Company
or any of its Restricted Subsidiaries having terms consistent with, but not limited to, the following: (a) such Indebtedness may be secured by a Lien that is (i) secondary and expressly subordinated to the first priority security interest
of the Administrative Agent for the benefit of the Secured Parties in any Collateral and (ii) first priority with respect to assets and property of the Company and its Subsidiaries other than Collateral, the terms and condition of such
secondary Lien being reasonably acceptable to the Administrative Agent; (b) the Administrative Agent for the benefit of the Secured Parties shall be granted a Lien on all assets (other than Collateral) securing the Second Lien Obligations,
which Lien shall be secondary and expressly subordinated to the first priority security interest of the holders of the such Second Lien Obligations; (c) the terms and conditions of such Indebtedness and all Liens described under clause
(a) and (b) above shall be subject to an intercreditor agreement reasonably acceptable to the Administrative Agent; (d) none of the maturity date, any scheduled payment of principal or any obligation to repurchase or prepay such
Indebtedness (whether absolute or at the option of the holder (other than as a result of the occurrence of a specified event as agreed to by the Administrative Agent that would constitute an Event of Default)) occurs for at least one year following
the Revolving Credit Maturity Date; (e) the terms of such Indebtedness contain no financial maintenance covenants or other covenants or any other terms or conditions that, taken as a whole, are more restrictive than the covenants, terms and
restrictions contained in this Agreement and the other applicable Loan Documents; and (f) on or prior to the date of incurrence thereof, the Borrower Agent has delivered to the Administrative Agent a Compliance Certificate demonstrating
compliance (calculated on a pro forma basis in accordance with Sections 1.03(c) and (d), as applicable), giving effect to the incurrence of such Indebtedness, with the financial covenant set forth in Section 8.12, in the
case of clauses (a) through (e) above, acceptable to the Administrative Agent in the exercise of its reasonable discretion. 

“Secured Parties” means, collectively, with respect to each of the Security Instruments, the
Administrative Agent, the Lenders and such other Persons for whose benefit the Lien thereunder is conferred, as therein provided. 

“Secured Related Credit Obligations” means Related Credit Debt owing to a Secured Related Credit Provider, up to
the maximum amount (in the case of any Secured Related Credit Provider other than Bank of America and its Affiliates) specified by such provider in writing to Administrative Agent (which shall be included in the Related Credit Reserve), which amount
may be established or increased (by further written notice to Administrative Agent from time to time) as long as no Default or Event of Default exists and establishment of a Related Credit Reserve for such amount and all other Secured Related Credit
Obligations would not result in an Overadvance. 
 “Secured Related Credit Provider” means (a) Bank
of America or any of its Affiliates; and (b) any Lender or Affiliate of a Lender that is a provider under a Related Credit Arrangement, provided that such provider delivers written notice to Administrative Agent, in form and substance
satisfactory to Administrative Agent, by the later of (i) 10 days following the Closing Date or (ii) 10 days following the entering into of the Related Credit Arrangement, which written notice shall (A) describe the Related Credit
Arrangement and set forth the maximum amount thereunder to be secured by the Collateral and the methodology to be used in 
  

 37 

 
calculating such amount and (B) contain an agreement by such Lender or the applicable Affiliate of a Lender to be bound by Section 10.12. 

“Securities Laws” means the Securities Act of 1933, the Exchange Act, Sarbanes-Oxley 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
hereunder. 
 “Security Agreement” means the Security Agreement dated as of the date hereof by the
Borrowers to the Administrative Agent for the benefit of the Secured Parties, substantially in the form of Exhibit F, as supplemented from time to time by the execution and delivery of Security Joinder Agreements pursuant to
Section 7.12. 
 “Security Instruments” means, collectively or individually as the context
may indicate, the Security Agreement (including any Security Joinder Agreements), each Deposit Account Control Agreement, and all other agreements (including securities account control agreements), instruments and other documents, whether now
existing or hereafter in effect, pursuant to which any Borrower shall grant or convey to the Administrative Agent or the Lenders a Lien in, or any other Person shall acknowledge any such Lien in, property as security for all or any portion of the
Obligations or any other obligation under any Loan Document, as any of them may be reinstated from time to time in accordance with the terms hereof and thereof. 

“Security Joinder Agreement” means each Security Joinder Agreement, substantially in the form thereof attached to
the Security Agreement, executed and delivered by a Borrower to the Administrative Agent pursuant to Section 7.12. 

“Senior Notes” means the unsecured
8 3/4% senior notes due 2020 in an aggregate
principal amount of $225,000,000 issued on the Closing Date by the Company pursuant to the Senior Notes Indenture, as in effect on the Closing Date and, thereafter, as amended, supplemented and/or restated or otherwise modified in accordance with
Section 8.11, and any registered exchange notes issued in exchange therefor. 
 “Senior Notes
Documents” means the Senior Notes and the Senior Notes Indenture. 
 “Senior Notes
Indenture” means the Indenture, dated as of August 26, 2010, among the Company, the guarantors signatory thereto, and The Bank of New York Mellon Trust Company, N.A., as trustee, as in effect on the Closing Date and, thereafter, as
amended, supplemented, amended and restated or otherwise modified in accordance with Section 8.11. 

“Solvent” means, as to any Person, such Person (a) owns property or assets whose fair salable value is
greater than the amount required to pay all of its debts (including contingent, subordinated, unmatured and unliquidated liabilities); (b) owns property or assets whose present fair salable value (as defined below) is greater than the probable
total liabilities (including contingent, subordinated, unmatured and unliquidated liabilities) of such Person as they become absolute and matured; (c) is able to pay all of its debts as they mature; (d) has capital that is not unreasonably
small for its business and is sufficient to carry on its business and transactions and all business and transactions in which it is about to engage; (e) is not “insolvent” within the

  

 38 

 
meaning of Section 101(32) of the Bankruptcy Code; and (f) has not incurred (by way of assumption or otherwise) any obligations or liabilities (contingent or otherwise) under any Loan
Documents, or made any conveyance in connection therewith, with actual intent to hinder, delay or defraud either present or future creditors of such Person or any of its Affiliates. “Fair salable value” means the amount that could
be obtained for assets within a reasonable time, either through collection or through sale under ordinary selling conditions by a capable and diligent seller to an interested buyer who is willing (but under no compulsion) to purchase. For purposes
hereof, the amount of all contingent liabilities at any time shall be computed as the amount that, in light of all the facts and circumstances existing at the time, can reasonably be expected to become an actual or matured liability. 

“SPC” has the meaning specified in Section 11.06(h). 

“Spot Rate” for a currency means the rate determined by the L/C Issuer to be the rate quoted by the Person acting
in such capacity as the spot rate for the purchase by such Person of such currency with another currency through its principal foreign exchange trading office at approximately 11:00 a.m. on the date two Business Days prior to the date as of which
the foreign exchange computation is made; provided that the Administrative Agent or the L/C Issuer may obtain such spot rate from another financial institution designated by the Administrative Agent or the L/C Issuer if the Person acting in
such capacity does not have as of the date of determination a spot buying rate for any such currency; and provided further that the L/C Issuer may use such spot rate quoted on the date as of which the foreign exchange computation is
made in the case of any Letter of Credit denominated in an Alternative Currency. 
 “Sterling” and
“£” mean the lawful currency of the United Kingdom. 

“Subordinated Notes” means the unsecured
7 
3/8%
 senior subordinated notes due 2017 issued by the Company pursuant to the Subordinated Notes Indenture in an aggregate principal amount of $425,000,000 on May 24, 2007, as in effect on the Closing Date and, thereafter, as amended, supplemented,
amended and restated or otherwise modified in accordance with Section 8.11, and any registered exchange notes issued in exchange therefor. 

“Subordinated Notes Documents” means the Subordinated Notes and the Subordinated Note Indenture. 

“Subordinated Notes Indenture” means the Indenture, dated as of May 24, 2007, among the Company, the
guarantors signatory thereto, and The Bank of New York, as trustee, as in effect on the Closing Date and, thereafter, as amended, supplemented, amended and restated or otherwise modified in accordance with Section 8.11. 

“Subsidiary” of a Person means a corporation, partnership, joint venture, limited liability company or other
business entity (but not a representative office of such Person) of which a majority of the shares of securities or other interests having ordinary voting power for the election of directors or other governing body (other than securities or
interests having such power only by reason of the happening of a contingency) are at the time beneficially owned, or the management of which is otherwise controlled, directly, or indirectly through one or more intermediaries, or both, by such
Person. Unless otherwise specified, all references herein to a 
  

 39 

 
“Subsidiary” or to “Subsidiaries” shall refer to a Subsidiary or Subsidiaries of the Company and shall include, without limitation, the Unrestricted Subsidiaries. 

“Swap Contract” means (a) any and all rate swap transactions, basis swaps, credit derivative transactions,
forward rate transactions, commodity swaps, commodity options, forward commodity contracts, equity or equity index swaps or options, bond or bond price or bond index swaps or options or forward bond or forward bond price or forward bond index
transactions, interest rate options, forward foreign exchange transactions, cap transactions, floor transactions, collar transactions, currency swap transactions, cross-currency rate swap transactions, currency options, spot contracts, or any other
similar transactions or any combination of any of the foregoing (including any options to enter into any of the foregoing), whether or not any such transaction is governed by or subject to any master agreement, and (b) any and all transactions
of any kind, and the related confirmations, which are subject to the terms and conditions of, or governed by, any form of master agreement published by the International Swaps and Derivatives Association, Inc., any International Foreign Exchange
Master Agreement, or any other master agreement (any such master agreement, together with any related schedules, a “Master Agreement”), including any such obligations or liabilities under any Master Agreement. 

“Swap Termination Value” means, in respect of any one or more Swap Contracts, after taking into account the
effect of any legally enforceable netting agreement relating to such Swap Contracts, (a) for any date on or after the date such Swap Contracts have been closed out and termination value(s) determined in accordance therewith, such termination
value(s), and (b) for any date prior to the date referenced in clause (a), the amount(s) determined as the mark-to-market value(s) for such Swap Contracts, as determined based upon one or more mid-market or other readily available quotations
provided by any recognized dealer in such Swap Contracts (which may include a Lender or any Affiliate of a Lender). 

“Swing Line” means the revolving credit facility made available by the Swing Line Lender pursuant to
Section 2.05. 
 “Swing Line Borrowing” means a borrowing of a Swing Line Loan pursuant to
Section 2.05. 
 “Swing Line Lender” means Bank of America in its capacity as provider of
Swing Line Loans, or any successor swing line lender hereunder. 
 “Swing Line Loan” has the meaning
specified in Section 2.05(a). 
 “Swing Line Loan Notice” means a notice of a Swing Line
Borrowing pursuant to Section 2.05(b), which, if in writing, shall be substantially in the form of Exhibit B. 

“Swing Line Sublimit” means an amount equal to the lesser of (a) $25,000,000 and (b) the Aggregate
Revolving Credit Commitments. The Swing Line Sublimit is part of, and not in addition to, the Aggregate Revolving Credit Commitments. 

“Syndication Agent” means JPMorgan in its capacity as syndication agent under any of the
Loan Documents, or any successor syndication agent. 
  

 40 

 “Synthetic Lease Obligation” means the monetary obligation of a
Person under (a) a so-called synthetic, off-balance sheet or tax retention lease, or (b) an agreement for the use or possession of property creating obligations that do not appear on the balance sheet of such Person but which, upon the
insolvency or bankruptcy of such Person, would be characterized as the indebtedness of such Person (without regard to accounting treatment). 

“TARGET Day” means any day on which the Trans-European Automated Real-time Gross Settlement Express Transfer
(TARGET) payment system (or, if such payment system ceases to be operative, such other payment system (if any) determined by the Administrative Agent to be a suitable replacement) is open for the settlement of payments in Euro. 

“Tax Sharing Agreement” means the Income Tax Allocation Agreement dated May 26, 2006 between Walter
Industries Inc. now d/b/a Walter Energy and Mueller Water Products, Inc. 
 “Taxes” means all present or
future taxes, levies, imposts, duties, deductions, withholdings (including backup withholding), assessments, fees or other charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto.

 “Total Outstandings” means the aggregate Outstanding Amount of all Revolving Loans and all L/C
Obligations. 
 “Transactions” means, individually or collectively as the context may indicate,
(a) the issuance of the Senior Notes and (b) the entering by the Borrowers of the Loan Documents to which they are a party and the funding of the Revolving Credit Facility. 

“Tyco” means Tyco International Ltd., a corporation organized under the laws of Switzerland, and any of its
successors and predecessors in interest. 
 “Tyco Indemnity” means the indemnity provided by Tyco under
certain acquisition documents pursuant to which a predecessor of Tyco sold the Mueller Co. and Anvil businesses to a predecessor owner, which indemnity continues indefinitely and covers certain liabilities (including environmental liabilities)
relating to the time prior to August 1999 and which indemnity is more fully described in the Company’s periodic filings with the SEC and notes to financial statements. 

“Type” means with respect to a Revolving Loan, its character as a Base Rate Loan or a Eurocurrency Rate Loan.

 “UCC” means the Uniform Commercial Code as in effect from time to time in the State of New York;
provided that if, with respect to any financing statement or by reason of any mandatory provisions of law, the perfection or the effect of perfection or non-perfection of the security interests granted to the Administrative Agent pursuant to
any applicable Loan Document is governed by the Uniform Commercial Code as in effect in a jurisdiction of the United States other than New York, the term “UCC” shall also include the Uniform Commercial Code as in effect from
time to time in such other jurisdiction for purposes of the provisions of this Agreement, each Loan Document and any financing statement relating to such perfection or effect of perfection or non-perfection. 

 

 41 

 “United States” and “U.S.” mean the United
States of America. 
 “Unreimbursed Amount” has the meaning specified in Section 2.04(c)(i).

 “Unrestricted Subsidiaries” means (a) each Subsidiary of the Company listed on Schedule
1.01(a) and (b) any Subsidiary of the Company designated by the board of directors of the Company as an Unrestricted Subsidiary pursuant to Section 7.15 subsequent to the Closing Date. 

“Value” means (a) for Eligible Inventory, its value determined on the basis of the lower of cost or market,
calculated on a first-in, first out basis, and excluding any portion of cost attributable to intercompany profit among Borrowers and their Affiliates; and (b) for an Eligible Account, its face amount, net of any returns, rebates, discounts
(calculated on the shortest terms), credits, allowances or Taxes (including sales, excise or other taxes) that have been or could reasonably be expected to be claimed by the Account Debtor or any other Person, in each case for an Eligible Account
payable in Canadian Dollars, the Dollar Equivalent of such Canadian Dollar amounts. 
 “Voting
Securities” means shares of capital stock issued by a corporation, or equivalent interests in any other Person, the holders of which are ordinarily, in the absence of contingencies, entitled to vote for the election of directors (or
persons performing similar functions) of such Person, even if the right so to vote has been suspended by the happening of such a contingency. 

“Yen” and “¥” mean the lawful currency of Japan. 

1.02 Other Interpretive Provisions. With reference to this Agreement and each other Loan Document, unless otherwise specified
herein or in such other Loan Document: 
 (a) The definitions of terms herein shall apply equally to the singular and plural
forms of the terms defined. 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.” Unless the context requires otherwise, (i) any
definition of or reference to any agreement, instrument or other document (including any Organization Document) shall be construed as referring to such agreement, instrument or other document as from time to time amended, supplemented or otherwise
modified (subject to any restrictions on such amendments, supplements or modifications set forth herein or in any other Loan Document), (ii) any reference herein to any Person shall be construed to include such Person’s successors and
assigns, (iii) the words “herein,” “hereof” and “hereunder,” and words of similar import when used in any Loan Document, shall be construed to refer to such Loan Document in its entirety and
not to any particular provision thereof, (iv) all references in a Loan Document to Articles, Sections, Exhibits and Schedules shall be construed to refer to Articles and Sections of, and Exhibits and Schedules to, the Loan Document in which
such references appear, (v) any reference to any law shall include all statutory and regulatory provisions consolidating, amending, replacing or interpreting such law and any reference to any law or regulation shall, unless otherwise specified,
refer to such law or regulation as amended, modified or supplemented from time to time, and (vi) the 
  

 42 

 
words “asset” and “property” shall be construed to have the same meaning and effect and to refer to any and all tangible and intangible assets and properties,
including cash, securities, accounts and contract rights. 
 (b) In the computation of periods of time from a specified date to
a later specified date, the word “from” means “from and including;” the words “to” and “until” each mean “to but excluding;” and the word “through”
means “to and including.” 
 (c) Section headings herein and in the other Loan Documents are included for
convenience of reference only and shall not affect the interpretation of this Agreement or any other Loan Document. 
 1.03
Accounting Terms. (a) Generally. All accounting terms not specifically or completely defined herein shall be construed in conformity with, and all financial data (including financial ratios and other financial calculations) required
to be submitted pursuant to this Agreement shall be prepared in conformity with, GAAP applied on a consistent basis, as in effect from time to time, applied in a manner consistent with that used in preparing the Audited Financial Statements,
except as otherwise specifically prescribed herein. 
 (b) Changes in GAAP. If at any time any change in GAAP
would affect the computation of any financial ratio or requirement set forth in any Loan Document, and either the Borrower Agent or the Required Lenders shall so request, the Administrative Agent, the Lenders and the Borrower Agent shall negotiate
in good faith to amend such ratio or requirement to preserve the original intent thereof in light of such change in GAAP (subject to the approval of the Required Lenders); provided that, until so amended, (i) such ratio or
requirement shall continue to be computed in accordance with GAAP prior to such change therein and (ii) the Borrower Agent shall provide to the Administrative Agent and the Lenders financial statements and other documents required under this
Agreement or as reasonably requested hereunder setting forth a reconciliation between calculations of such ratio or requirement made before and after giving effect to such change in GAAP. 

(c) All defined terms used in the calculation of Consolidated Fixed Charge Coverage Ratio hereof shall be calculated on a historical pro
forma basis giving effect (by inclusion or exclusion, as applicable), during any period of measurement that includes any Acquisition permitted by Section 8.13 or any Disposition permitted by Section 8.05(e), to the actual
historical results of the Person so acquired or disposed and which amounts shall include only adjustments as are permitted under Regulation S-X of the SEC or are otherwise reasonably satisfactory to the Administrative Agent. 

(d) Any pro forma calculation of the Consolidated Fixed Charge Coverage Ratio shall be made (i) as if all Indebtedness incurred or
repaid or Acquisition or Investments made at the time of such measurement had been incurred or repaid or made, as applicable, on the first day of the Measurement Period most recently ended for which the Borrower Agent has delivered (or were required
to deliver) financial statements pursuant to Section 7.01(a) or 7.01(b) and (ii) pro forma for any other element of the relevant transaction that would affect the calculation of Consolidated Fixed Charge Coverage Ratio.

  

 43 

 (e) For the avoidance of doubt, the term “the Company and its Restricted
Subsidiaries” as used in the defined terms used in the calculation of the Consolidated Fixed Charge Coverage Ratio shall not include any consolidation of the assets, liabilities or results of operations of the Unrestricted Subsidiaries in the
assets, liabilities or results of the Company or any Restricted Subsidiary. 
 (f) Consolidation of Variable Interest
Entities. Except as expressly provided otherwise herein, all references herein to consolidated financial statements of the Company and its Subsidiaries or to the determination of any amount for the Company and its Subsidiaries on a consolidated
basis or any similar reference shall, in each case, be deemed to include each variable interest entity that the Company is required to consolidate pursuant to FASB Interpretation No. 46 – Consolidation of Variable Interest Entities: an
interpretation of ARB No. 51 (January 2003) as if such variable interest entity were a Subsidiary as defined herein. 

(g) In computing financial ratios and other financial calculations of the Company and its Restricted Subsidiaries required to be
submitted pursuant to this Agreement, all Indebtedness of the Company and its Restricted Subsidiaries shall be calculated at par value irrespective if the Company has elected the fair value option pursuant to FASB Interpretation No. 159
– The Fair Value Option for Financial Assets and Financial Liabilities—Including an amendment of FASB Statement No. 115 (February 2007). 

1.04 Uniform Commercial Code. As used herein, the following terms are defined in accordance with the UCC in effect in the State of
New York from time to time: “Chattel Paper,” “Commercial Tort Claim,” “Deposit Account,” “Document,” “General Intangibles,” “Instrument,” “Investment Property,”
“Letter-of-Credit Right,” “Securities Account” and “Supporting Obligation.” 
 1.05
Rounding. Any financial ratios required to be maintained by the Borrowers pursuant to this Agreement shall be calculated by dividing the appropriate component by the other component, carrying the result to one place more than the number of
places by which such ratio is expressed herein and rounding the result up or down to the nearest number (with a rounding-up if there is no nearest number). 

1.06 Times of Day. Unless otherwise specified, all references herein to times of day shall be references to Eastern time (daylight
or standard, as applicable). 
 1.07 Letter of Credit Amounts. Unless otherwise specified herein, the amount of a Letter
of Credit at any time shall be deemed to be the Dollar Equivalent of the stated amount of such Letter of Credit in effect at such time; provided, however, that with respect to any Letter of Credit that, by its terms or the terms of any
Issuer Document related thereto, provides for one or more automatic increases in the stated amount thereof, the amount of such Letter of Credit shall be deemed to be the Dollar Equivalent of the maximum stated amount of such Letter of Credit after
giving effect to all such increases, whether or not such maximum stated amount is in effect at such time. 
 1.08 Exchange
Rates; Currency Equivalents. (a) The L/C Issuer shall determine the Spot Rates as of each Revaluation Date to be used for calculating Dollar Equivalent amounts of 

 

 44 

 
L/C Credit Extensions and Outstanding Amounts denominated in Alternative Currencies. Such Spot Rates shall become effective as of such Revaluation Date and shall be the Spot Rates employed in
converting any amounts between the applicable currencies until the next Revaluation Date to occur. Except for purposes of financial statements delivered by the Borrowers hereunder or calculating financial covenants hereunder or except as otherwise
provided herein, the applicable amount of any currency (other than Dollars) for purposes of the Loan Documents shall be such Dollar Equivalent amount as so determined by the L/C Issuer. 

(b) Wherever in this Agreement in connection with the issuance, amendment or extension of a Letter of Credit, an amount, such as a
required minimum or multiple amount, is expressed in Dollars, but such Letter of Credit is denominated in an Alternative Currency, such amount shall be the relevant Alternative Currency Equivalent of such Dollar amount (rounded to the nearest unit
of such Alternative Currency, with 0.5 of a unit being rounded upward), as determined by the L/C Issuer. 
 1.09 Additional
Alternative Currencies. (a) The Borrowers may from time to time request that Letters of Credit be issued in a currency other than those specifically listed in the definition of “Alternative Currency;” provided that
such requested currency is a lawful currency (other than Dollars) that is readily available and freely transferable and convertible into Dollars. In the case of any such request, such request shall be subject to the approval of the Administrative
Agent and the L/C Issuer. 
 (b) Any such request shall be made to the Administrative Agent not later than 11:00 a.m., 20
Business Days prior to the date of the desired L/C Credit Extension (or such other time or date as may be agreed by the Administrative Agent and the L/C Issuer, in their sole discretion). The Administrative Agent shall promptly notify the L/C Issuer
of any such request. The L/C Issuer shall notify the Administrative Agent, not later than 11:00 a.m., ten Business Days after receipt of such request whether it consents, in its sole discretion, to the issuance of Letters of Credit in such requested
currency. 
 (c) Any failure by the L/C Issuer to respond to such request within the time period specified in the preceding
sentence shall be deemed to be a refusal by the L/C Issuer to permit Letters of Credit to be issued in such requested currency. If the Administrative Agent and the L/C Issuer consent to the issuance of Letters of Credit in such requested currency,
the Administrative Agent shall so notify the Borrower Agent and such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Letter of Credit issuances. If the Administrative Agent shall fail
to obtain consent to any request for an additional currency under this Section 1.09, the Administrative Agent shall promptly so notify the Borrower Agent. 

1.10 Change of Currency. (a) Each obligation of the Borrowers to make a payment denominated in the national currency unit of
any member state of the European Union that adopts the Euro as its lawful currency after the date hereof shall be redenominated into Euro at the time of such adoption (in accordance with the EMU Legislation). If, in relation to the currency of any
such member state, the basis of accrual of interest expressed in this Agreement in respect of that currency shall be inconsistent with any convention or practice in the London interbank market for the basis of accrual of interest in respect of the
Euro, such expressed basis 
  

 45 

 
shall be replaced by such convention or practice with effect from the date on which such member state adopts the Euro as its lawful currency. 

(b) Each provision of this Agreement shall be subject to such reasonable changes of construction as the Administrative Agent may from
time to time specify to be appropriate to reflect the adoption of the Euro by any member state of the European Union and any relevant market conventions or practices relating to the Euro. 

(c) Each provision of this Agreement also shall be subject to such reasonable changes of construction as the Administrative Agent may
from time to time specify to be appropriate to reflect a change in currency of any other country and any relevant market conventions or practices relating to the change in currency. 

ARTICLE II. 

THE COMMITMENTS AND CREDIT EXTENSIONS 

2.01 Borrower Agent. Each Borrower hereby designates the Company (“Borrower Agent”) as its representative
and agent for all purposes under the Loan Documents, including requests for Credit Extensions, designation of interest rates, delivery or receipt of communications, preparation and delivery of Borrowing Base Certificates and financial reports,
receipt and payment of Obligations, requests for waivers, amendments or other accommodations, actions under the Loan Documents (including in respect of compliance with covenants), and all other dealings with Administrative Agent, L/C Issuers or any
Lender. Borrower Agent hereby accepts such appointment. Administrative Agent and Lenders shall be entitled to rely upon, and shall be fully protected in relying upon, any notice or communication (including any notice of borrowing) delivered by
Borrower Agent on behalf of any Borrower. Administrative Agent and Lenders may give any notice or communication with a Borrower hereunder to Borrower Agent on behalf of such Borrower. Each of Administrative Agent, L/C Issuers and Lenders shall have
the right, in its discretion, to deal exclusively with Borrower Agent for any or all purposes under the Loan Documents. Each Borrower agrees that any notice, election, communication, representation, agreement or undertaking made on its behalf by
Borrower Agent shall be binding upon and enforceable against it. Upon not less than 10 days prior notice to the Administrative Agent, the Borrower Agent may resign at any time, such resignation to be effective upon the appointment of a successor
Borrower Agent. The Administrative Agent shall give notice of such resignation to the Lenders. 
 2.02 Revolving
Loans. Subject to the terms and conditions set forth herein, each Revolving Lender severally agrees to make, convert and continue Revolving Loans to the Borrowers on any Business Day during the Availability Period, in an aggregate amount not to
exceed at any time outstanding the amount of such Revolving Lender’s Revolving Credit Commitment; provided, however, that after giving effect to any Revolving Borrowing, (i) the Total Outstandings shall not exceed the Loan
Cap (excluding any applicable L/C Reserve), and (ii) the aggregate Outstanding Amount of the Revolving Loans of any Revolving Lender, plus such Lender’s Pro Rata Share of the Outstanding Amount of all L/C Obligations, plus
such Lender’s Pro Rata Share of the Outstanding Amount of all Swing Line Loans shall not exceed such Lender’s Revolving Credit Commitment. Within the limits of each Revolving Lender’s

  

 46 

 
Revolving Credit Commitment, and subject to the other terms and conditions hereof, the Borrowers may borrow under this Section 2.02, prepay under Section 2.06, and
reborrow under this Section 2.02. Revolving Loans may be Base Rate Loans or Eurocurrency Rate Loans, as further provided herein. 

2.03 Borrowings, Conversions and Continuations of Committed Loans. 

(a) Each Revolving Borrowing, each conversion of Revolving Loans from one Type to the other, and each continuation of Eurocurrency Rate
Loans shall be made upon the Borrower Agent’s irrevocable notice to the Administrative Agent, which may be given by telephone or other customary electronic means. Each such notice must be received by the Administrative Agent not later than
12:00 noon (i) three Business Days prior to the requested date of any Borrowing of, conversion to or continuation of Eurocurrency Rate Loans or of any conversion of Eurocurrency Rate Loans to Base Rate Loans, and (ii) on the requested date
of any Borrowing of Base Rate Loans. Not later than 11:00 a.m., (i) three Business Days before the requested date of such Borrowing, conversion or continuation of Eurocurrency Rate Loans, the Administrative Agent shall notify the Borrower Agent
(which notice may be by telephone) whether or not the requested Interest Period has been consented to by all the Revolving Lenders. Each telephonic notice by the Borrower Agent pursuant to this Section 2.03(a) must be confirmed promptly
by delivery to the Administrative Agent of a written Revolving Loan Notice, appropriately completed and signed by a Responsible Officer of the Borrower Agent (unless such Revolving Loan Notice is being delivered by the Swing Line Lender pursuant to
Section 2.05(c) or by the Administrative Agent on behalf of the L/C Issuer pursuant to Section 2.04(c)(i)); provided that the lack of such prompt confirmation shall not affect the conclusiveness or binding effect of
such telephonic notice. Each Borrowing of, conversion to or continuation of Eurocurrency Rate Loans shall be in a principal amount of $2,000,000 or a whole multiple of $1,000,000 in excess thereof. Except as provided in Sections 2.04(c) and
2.05(c), each Borrowing of or conversion to Base Rate Loans shall be in a principal amount of $2,000,000 or a whole multiple of $1,000,000 in excess thereof. Each Revolving Loan Notice (whether telephonic or written) shall specify
(i) whether the Borrower Agent is requesting a Borrowing, a conversion of Revolving Loans from one Type to the other, or a continuation of Eurocurrency Rate Loans, (ii) the requested date of the Borrowing, conversion or continuation, as
the case may be (which shall be a Business Day), (iii) the principal amount of Revolving Loans to be borrowed, converted or continued, (iv) the Type of Revolving Loans to be borrowed or to which existing Revolving Loans are to be
converted, and (v) if applicable, the duration of the Interest Period with respect thereto. Each written Revolving Loan Notice shall be substantially in the form of Exhibit A attached hereto. If the Borrower Agent fails to specify a Type
of Revolving Loans in a Revolving Loan Notice or if the Borrower Agent fails to give a timely notice requesting a conversion or continuation of Loans, then the applicable Loans shall, subject to the last sentence of this Section 2.03(a),
be made as, or continued as, or converted to, Base Rate Loans. Any such automatic conversion to Base Rate Loans shall be effective as of the last day of the Interest Period then in effect with respect to the applicable Eurocurrency Rate Loans. If
the Borrower Agent requests a Borrowing of, conversion to, or continuation of Eurocurrency Rate Loans in any such Revolving Loan Notice, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of three months.

 (b) Following receipt of a Revolving Loan Notice, the Administrative Agent shall promptly notify each Revolving Lender of the
amount of its Pro Rata Share of the applicable 
  

 47 

 
Revolving Loans. If no timely notice of a conversion or continuation is provided by the Borrower Agent, the Administrative Agent shall notify each Revolving Lender of the details of any automatic
conversion to Base Rate Loans as described in the preceding subsection. 
 Each Lender shall make the amount of its Revolving Loan available to
the Administrative Agent in Same Day Funds at the Administrative Agent’s Office not later than 2:00 p.m. on the Business Day specified in the applicable Revolving Loan Notice. A Revolving Lender may cause an Affiliate to fund or make the amount
of its Loan available in accordance with the foregoing provisions. Upon satisfaction of the applicable conditions set forth in Section 5.02 (and, if such Borrowing is the initial Credit Extension, Section 5.01), the
Administrative Agent shall make all funds so received available to the Borrower Agent either by (i) crediting the account of the Borrower Agent on the books of Bank of America with the amount of such funds or (ii) wire transfer of such
funds, in each case in accordance with instructions provided to (and reasonably acceptable to) the Administrative Agent by the Borrower Agent; provided, however, that if, on the date the Revolving Loan Notice with respect to such
Borrowing is given by the Borrower Agent, there are Swing Line Loans or L/C Borrowings outstanding, then the proceeds of such Borrowing, first, shall be applied to the payment in full of any such L/C Borrowings, second, to the payment
in full of any such Swing Line Loans, and third, to the Borrower Agent as provided above. 
 (c) Except as otherwise
provided herein, a Eurocurrency Rate Loan may be continued or converted only on the last day of an Interest Period for such Eurocurrency Rate Loan. During the existence of a Default, no Loans may be requested as, converted to or continued as
Eurocurrency Rate Loans without the consent of the Required Lenders. 
 (d) The Administrative Agent shall promptly notify the
Borrower Agent and the applicable Lenders of the interest rate applicable to any Interest Period for Eurocurrency Rate Loans upon determination of such interest rate. The determination of the Eurocurrency Rate by the Administrative Agent shall be
conclusive in the absence of manifest error. At any time that Base Rate Loans are outstanding, the Administrative Agent shall notify the Borrower Agent and the Lenders of any change in Bank of America’s prime rate used in determining the Base
Rate promptly following the public announcement of such change. 
 (e) After giving effect to all Borrowings, all conversions of
Loans from one Type to the other, and all continuations of Loans as the same Type, there shall not at any time be more than ten Interest Periods in effect with respect to the Revolving Credit Facility. 

(f) Unless payment is otherwise timely made by Borrowers, the becoming due of any Obligations (whether principal, interest, fees or other
charges, including costs and expenses pursuant to Section 11.04(a), L/C Obligations, Cash Collateral and Secured Related Credit Obligations) shall be deemed to be a request for Base Rate Loans on the due date, in the amount of such
Obligations. The proceeds of such Base Rate Loans shall be disbursed as direct payment of the relevant Obligation. In addition, Administrative Agent may, at its option, charge such Obligations against any operating, investment or other account of a
Borrower maintained with Administrative Agent or any of its Affiliates. 
  

 48 

 (g) If the aggregate Revolving Loans exceed the Loan Cap
(“Overadvance”) at any time, the excess amount shall be payable by Borrowers within 1 Business Day of a demand by Administrative Agent, but all such Revolving Loans shall nevertheless constitute Obligations secured by the
Collateral and entitled to all benefits of the Loan Documents. Unless its authority has been revoked in writing by Required Lenders, Administrative Agent may require Lenders to honor requests for Overadvance Loans and to forbear from requiring
Borrowers to cure an Overadvance, (a) when no other Event of Default is known to Administrative Agent, as long as (i) the Overadvance does not continue for more than 30 consecutive days (and no Overadvance may exist for at least five
consecutive days thereafter before further Overadvance Loans are required), and (ii) the Overadvance does not exceed 10% of the Loan Cap; and (b) regardless of whether an Event of Default exists, if Administrative Agent discovers an
Overadvance not previously known by it to exist, as long as from the date of such discovery the Overadvance (i) is not increased so that the total outstanding amount of the Overadvance exceeds 10% of the Loan Cap, and (ii) does not
continue for more than 30 consecutive days. In no event shall Overadvance Loans be required that would cause the outstanding Revolving Loans and L/C Obligations to exceed the Aggregate Commitments. Any funding of an Overadvance Loan or sufferance of
an Overadvance shall not constitute a waiver by Administrative Agent or Lenders of the Event of Default caused thereby. In no event shall any Borrower or other Borrower be deemed a beneficiary of this Section nor authorized to enforce any of its
terms. 
 (h) Administrative Agent shall be authorized, in its discretion, at any time that any conditions in Article V
are not satisfied, to make Base Rate Revolving Loans (“Protective Advances”) (a) up to an aggregate amount (when combined with any outstanding Overadvance) of up to 10% of the Loan Cap at any time, if the Administrative
Agent deems such Loans necessary or desirable to preserve or protect Collateral, or to enhance the collectability or repayment of Obligations; or (b) to pay any other amounts chargeable to Borrowers under any Loan Documents, including costs,
fees and expenses. Each Lender shall participate in each Protective Advance in an amount equal to its Pro Rata Share of such Protective Advance. In no event shall the Administrative Agent make any Protective Advance that would cause the sum of
outstanding Revolving Loans plus L/C Obligations to exceed the Aggregate Commitments. Required Lenders may at any time revoke Administrative Agent’s authority to make further Protective Advances by written notice to Administrative Agent. Absent
such revocation, Administrative Agent’s determination that funding of a Protective Advance is appropriate shall be conclusive. 

2.04 Letters of Credit. 

(a) The Letter of Credit Commitment. 

(i) Subject to the terms and conditions set forth herein, (A) the L/C Issuer agrees, in reliance upon the agreements
of the Revolving Lenders set forth in this Section 2.04, (1) from time to time on any Business Day during the period from the Closing Date until the earlier to occur of the Letter of Credit Expiration Date or the termination of the
Availability Period, to issue Letters of Credit denominated in Dollars or in one or more Alternative Currencies at the request of the Borrower Agent for the account of the Company, any other Borrower or any Restricted Subsidiary and to amend Letters
of Credit previously issued by it, in accordance 
  

 49 

 
with subsection (b) below, and (2) to honor drafts under the Letters of Credit; and (B) the Revolving Lenders severally agree to participate in Letters of Credit issued for the
account of the Company, any other Borrower or any Restricted Subsidiary and any drawings thereunder; provided that the L/C Issuer shall not be obligated to make any L/C Credit Extension with respect to any Letter of Credit, and no Revolving
Lender shall be obligated to participate in any Letter of Credit, if as of the date of such L/C Credit Extension, (A) the Total Outstandings would exceed the Aggregate Commitments, (B) the aggregate Outstanding Amount of the Revolving
Loans of any Revolving Lender, plus such Revolving Lender’s Pro Rata Share of the Outstanding Amount of all L/C Obligations, plus such Revolving Lender’s Pro Rata Share of the Outstanding Amount of all Swing Line Loans would
exceed such Revolving Lender’s Revolving Credit Commitment, and (C) the Outstanding Amount of the L/C Obligations would exceed the Letter of Credit Sublimit. Each request by the Borrower Agent for the issuance or amendment of a Letter of
Credit shall be deemed to be a representation by the Borrower Agent that the L/C Credit Extension so requested complies with the conditions set forth in the proviso to the preceding sentence. Within the foregoing limits, and subject to the terms and
conditions hereof, the Borrowers’ ability to obtain Letters of Credit shall be fully revolving, and accordingly the Borrowers may, during the foregoing period, obtain Letters of Credit to replace Letters of Credit that have expired or that have
been drawn upon and reimbursed. All Existing Letters of Credit shall be deemed to have been issued pursuant hereto, and from and after the Closing Date shall be subject to and governed by the terms and conditions hereof. 

(ii) The L/C Issuer shall not issue any Letter of Credit, if: 

(A) subject to Section 2.04(b)(iii), the expiry date of such requested Letter of Credit would occur
(i) as to standby Letters of Credit, more than twelve months after the date of issuance or last renewal, and (ii) as to commercial Letters of Credit, later than the earlier of (1) 270 days after the date of issuance thereof and
(2) 60 days before the Letter of Credit Expiration Date, unless in each case the Required Lenders have approved such expiry date; or 

(B) the expiry date of such requested Letter of Credit would occur after the Letter of Credit Expiration Date, unless all
the Lenders have approved such expiry date; 
 (iii) The L/C Issuer shall not be under any obligation to issue
any Letter of Credit if: 
 (A) any order, judgment or decree of any Governmental Authority or arbitrator shall
by its terms purport to enjoin or restrain the L/C Issuer from issuing such Letter of Credit or any Law applicable to the L/C Issuer or any request or directive (whether or not having the force of law) from any Governmental Authority with
jurisdiction over the L/C Issuer shall prohibit, or request that the L/C Issuer refrain from, the issuance of letters of credit generally or such Letter of Credit in particular or shall impose upon the L/C Issuer with

  

 50 

 
respect to such Letter of Credit any restriction, reserve or capital requirement (for which the L/C Issuer is not otherwise compensated hereunder) not in effect on the Closing Date, or shall
impose upon the L/C Issuer any unreimbursed loss, cost or expense which was not applicable on the Closing Date and which the L/C Issuer in good faith deems material to it; 

(B) the issuance of such Letter of Credit would violate one or more policies of the L/C Issuer; 

(C) such Letter of Credit is in an initial amount less than the Dollar Equivalent of $10,000; provided, that the
Administrative Agent and L/C Issuer agree that up to 10 Letters of Credit may be issued and outstanding hereunder in amounts less than the Dollar Equivalent of $10,000; 

(D) any Lender is at that time a Defaulting Lender, unless the L/C Issuer has entered into arrangements, including the
delivery of Cash Collateral, satisfactory to the L/C Issuer with the Borrowers or such Lender to eliminate the L/C Issuer’s actual or potential Fronting Exposure (after giving effect to Section 2.18(a)(iv)) with respect to the
Defaulting Lender arising from either the Letter of Credit then proposed to be issued or that Letter of Credit and all other L/C Obligations as to which the L/C Issuer has actual or potential Fronting Exposure, as it may elect in its sole
discretion; 
 (E) except as otherwise agreed by the Administrative Agent and the L/C Issuer, such Letter of
Credit is to be denominated in a currency other than Dollars or an Alternative Currency; or 
 (F) the L/C
Issuer does not as of the issuance date of such requested Letter of Credit issue Letters of Credit in the requested currency. 

(iv) The L/C Issuer shall not amend any Letter of Credit if the L/C Issuer would not be permitted at such time to issue
such Letter of Credit in its amended form under the terms hereof. 
 (v) The L/C Issuer shall be under no
obligation to amend any Letter of Credit if (A) the L/C Issuer would have no obligation at such time to issue such Letter of Credit in its amended form under the terms hereof, or (B) the beneficiary of such Letter of Credit does not accept
the proposed amendment to such Letter of Credit. 
 (vi) The L/C Issuer shall act on behalf of the Revolving
Lenders with respect to any Letters of Credit issued by it and the documents associated therewith, and the L/C Issuer shall have all of the benefits and immunities (A) provided to the Administrative Agent in Article X with respect to any
acts taken or omissions suffered by the L/C Issuer in connection with Letters of Credit issued by it or proposed to be issued by it and Issuer Documents pertaining to such Letters of Credit as fully as if the term “Administrative Agent” as
used in Article X included 
  

 51 

 
the L/C Issuer with respect to such acts or omissions, and (B) as additionally provided herein with respect to the L/C Issuer. 

(b) Procedures for Issuance and Amendment of Letters of Credit; Auto-Extension Letters of Credit. 

(i) Each Letter of Credit shall be issued or amended, as the case may be, upon the request of the Borrower Agent delivered
to the L/C Issuer (with a copy to the Administrative Agent) in the form of a Letter of Credit Application, appropriately completed and signed by a Responsible Officer of the Borrower Agent or a Borrower. Such Letter of Credit Application must be
received by the L/C Issuer and the Administrative Agent not later than 11:00 a.m. at least two Business Days (or such later date and time as the Administrative Agent and the L/C Issuer may agree in a particular instance in its sole discretion) prior
to the proposed issuance date or date of amendment, as the case may be. In the case of a request for an initial issuance of a Letter of Credit, such Letter of Credit Application shall specify in form and detail satisfactory to the L/C Issuer:
(A) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day); (B) the amount and currency thereof; (C) the expiry date thereof; (D) the name and address of the beneficiary thereof; (E) the
documents to be presented by such beneficiary in case of any drawing or presentation thereunder; (F) the full text of any certificate to be presented by such beneficiary in case of any drawing or presentation thereunder; (G) the name of
any Restricted Subsidiary (other than a Borrower applicant) for whose account the Letter of Credit is to be issued, if applicable and (H) such other matters as the L/C Issuer may require. In the case of a request for an amendment of any
outstanding Letter of Credit, such Letter of Credit Application shall specify in form and detail satisfactory to the L/C Issuer (A) the Letter of Credit to be amended; (B) the proposed date of amendment thereof (which shall be a Business
Day); (C) the nature of the proposed amendment; and (D) such other matters as the L/C Issuer may require. Additionally, the Borrower Agent shall furnish to the L/C Issuer and the Administrative Agent such other documents and information
pertaining to such requested Letter of Credit issuance or amendment, including any Issuer Documents, as the L/C Issuer or the Administrative Agent may require. 

(ii) Promptly after receipt of any Letter of Credit Application, the L/C Issuer will confirm with the Administrative Agent
(by telephone or in writing) that the Administrative Agent has received a copy of such Letter of Credit Application from the applicable Borrower and, if not, the L/C Issuer will provide the Administrative Agent with a copy thereof. Unless the L/C
Issuer has received written notice from any Revolving Lender, the Administrative Agent or any Borrower, at least one Business Day prior to the requested date of issuance or amendment of the applicable Letter of Credit, that one or more applicable
conditions contained in Article V shall not then be satisfied, then, subject to the terms and conditions hereof, the L/C Issuer shall, on the requested date, issue a Letter of Credit for the account of the Company, a Borrower or the
applicable Restricted Subsidiary or enter into the applicable amendment, as the case may be, in each case in accordance with the L/C Issuers usual and customary business practices. 

 

 52 

 
Immediately upon the issuance of each Letter of Credit, each Revolving Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the L/C Issuer a risk
participation in such Letter of Credit in an amount equal to the product of such Revolving Lender’s Pro Rata Share times the amount of such Letter of Credit. 

(iii) If the Borrower Agent so requests in any applicable Letter of Credit Application, the L/C Issuer may, in its sole
and absolute discretion, agree to issue a Letter of Credit other than a commercial Letter of Credit that has automatic extension provisions (each, an “Auto-Extension Letter of Credit”); provided that any such
Auto-Extension Letter of Credit must permit the L/C Issuer to prevent any such extension at least once in each twelve-month period (commencing with the date of issuance of such Letter of Credit) by giving prior notice to the beneficiary thereof not
later than a day (the “Non-Extension Notice Date”) in each such twelve-month period to be agreed upon at the time such Letter of Credit is issued. Unless otherwise directed by the L/C Issuer, the Borrower Agent shall not be
required to make a specific request to the L/C Issuer for any such extension. Once an Auto-Extension Letter of Credit has been issued, the Revolving Lenders shall be deemed to have authorized (but may not require) the L/C Issuer to permit the
extension of such Letter of Credit at any time to an expiry date not later than the Letter of Credit Expiration Date; provided, however, that the L/C Issuer shall not permit any such extension if (A) the L/C Issuer has determined
that it would not be permitted, or would have no obligation, at such time to issue such Letter of Credit in its revised form (as extended) under the terms hereof (by reason of the provisions clause (ii) or (iii) of
Section 2.04(a) or otherwise), or (B) it has received notice (which may be by telephone or in writing) on or before the day that is five Business Days before the Non-Extension Notice Date (1) from the Administrative Agent that
the Required Lenders have elected not to permit such extension or (2) from the Administrative Agent, any Revolving Lender or the Borrower Agent that one or more of the applicable conditions specified in Section 5.02 is not then
satisfied, and in each such case directing the L/C Issuer not to permit such extension. 
 (iv) Promptly after
its delivery of any Letter of Credit or any amendment to a Letter of Credit to an advising bank with respect thereto or to the beneficiary thereof, the L/C Issuer will also deliver to the Borrower Agent and the Administrative Agent a true and
complete copy of such Letter of Credit or amendment. 
 (c) Drawings and Reimbursements; Funding of Participations.

 (i) Upon receipt from the beneficiary of any Letter of Credit of any notice of a drawing or presentation of
documents under such Letter of Credit, the L/C Issuer shall notify the Borrower Agent and the Administrative Agent thereof. In the case of a Letter of Credit denominated in an Alternative Currency, the Borrowers shall reimburse the L/C Issuer in
such Alternative Currency, unless (A) the L/C Issuer (at its option) shall have specified in such notice that it will require reimbursement in Dollars, or (B) in the absence of any such requirement for

  

 53 

 
reimbursement in Dollars, the Borrower Agent shall have notified the L/C Issuer promptly following receipt of the notice of drawing that the Borrowers will reimburse the L/C Issuer in Dollars.
If, for any reason, the Borrowers are prohibited by any Law from making any required payment hereunder in an Alternative Currency, the Borrower shall make such payment in Dollars in the Dollar Equivalent of the Alternative Currency payment amount.
In the case of any such reimbursement in Dollars of a drawing under a Letter of Credit denominated in an Alternative Currency, the L/C Issuer shall notify the Borrower Agent of the Dollar Equivalent of the amount of the drawing promptly following
the determination thereof. Not later than 1:00 p.m. on the date of any payment by the L/C Issuer under a Letter of Credit to be reimbursed in Dollars, or the Applicable Time on the date of any payment by the L/C Issuer under a Letter of Credit to be
reimbursed in an Alternative Currency (each such date, an “Honor Date”), any Borrower shall reimburse the L/C Issuer through the Administrative Agent in an amount equal to the amount of such drawing and in the applicable
currency. If the Borrowers fail so to reimburse the L/C Issuer by such time, the Administrative Agent shall promptly notify each Revolving Lender of the Honor Date, the amount of the unreimbursed drawing or payment (expressed in Dollars in the
amount of the Dollar Equivalent thereof in the case of a Letter of Credit denominated in an Alternative Currency) (the “Unreimbursed Amount”), and the amount of such Revolving Lender’s Pro Rata Share thereof. In such
event, the Borrower Agent shall be deemed to have requested a Revolving Borrowing of Base Rate Loans to be disbursed on the Honor Date in an amount equal to the Unreimbursed Amount, without regard to the minimum and multiples specified in
Section 2.03 for the principal amount of Base Rate Loans, but subject to the amount of the unutilized portion of the Aggregate Commitments and the conditions set forth in Section 5.02 (other than the delivery of a Revolving
Loan Notice). Any notice given by the L/C Issuer or the Administrative Agent pursuant to this Section 2.04(c)(i) may be given by telephone if immediately confirmed in writing; provided that the lack of such an immediate
confirmation shall not affect the conclusiveness or binding effect of such notice. 
 (ii) Each Revolving Lender
shall upon any notice pursuant to Section 2.04(c)(i) make funds available (and the Administrative Agent may apply Cash Collateral provided for this purpose) to the Administrative Agent for the account of the L/C Issuer, in Dollars, at
the Administrative Agent’s Office for Dollar denominated payments an amount equal to its Pro Rata Share of the Unreimbursed Amount not later than 3:00 p.m. on the Business Day specified in such notice by the Administrative Agent, whereupon,
subject to the provisions of Section 2.04(c)(iii), each Revolving Lender that so makes funds available shall be deemed to have made a Base Rate Revolving Loan to the Borrower Agent in such amount. The Administrative Agent shall remit the
funds so received to the L/C Issuer in Dollars. 
 (iii) With respect to any Unreimbursed Amount that is not
fully refinanced by a Revolving Borrowing of Base Rate Loans because the conditions set forth in Section 5.02 cannot be satisfied or for any other reason, the Borrowers shall be deemed to have incurred from the L/C Issuer an L/C
Borrowing in the amount of the Unreimbursed Amount that is not so refinanced, which L/C Borrowing shall be 
  

 54 

 
due and payable on demand (together with interest) and shall bear interest at the Default Rate. In such event, each Revolving Lender’s payment to the Administrative Agent for the account of
the L/C Issuer pursuant to Section 2.04(c)(ii) shall be deemed payment in respect of its participation in such L/C Borrowing and shall constitute an L/C Advance from such Revolving Lender in satisfaction of its participation obligation
under this Section 2.04. 
 (iv) Until each Revolving Lender funds its Revolving Loan or L/C Advance
pursuant to this Section 2.04(c) to reimburse the L/C Issuer for any amount drawn under any Letter of Credit, interest in respect of such Revolving Lender’s Pro Rata Share of such amount shall be solely for the account of the L/C
Issuer. 
 (v) Each Revolving Lender’s obligation to make Revolving Loans or L/C Advances to reimburse the
L/C Issuer for amounts drawn under Letters of Credit, as contemplated by this Section 2.04(c), shall be absolute and unconditional and shall not be affected by any circumstance, including (A) any set-off, counterclaim, recoupment,
defense or other right which such Revolving Lender may have against the L/C Issuer, any Borrower or any other Person for any reason whatsoever; (B) the occurrence or continuance of a Default, or (C) any other occurrence, event or
condition, whether or not similar to any of the foregoing; provided, however, that each Revolving Lender’s obligation to make Revolving Loans pursuant to this Section 2.04(c) is subject to the conditions set forth in
Section 5.02 (other than delivery by the Borrower Agent of a Revolving Loan Notice). No such making of an L/C Advance shall relieve or otherwise impair the obligation of the Borrowers to reimburse the L/C Issuer for the amount of any
payment made by the L/C Issuer under any Letter of Credit, together with interest as provided herein. 
 (vi) If
any Revolving Lender fails to make available to the Administrative Agent for the account of the L/C Issuer any amount required to be paid by such Revolving Lender pursuant to the foregoing provisions of this Section 2.04(c) by the time
specified in Section 2.04(c)(ii), then, without limiting the other provisions of this Agreement, the L/C Issuer shall be entitled to recover from such Revolving Lender (acting through the Administrative Agent), on demand, such amount
with interest thereon for the period from the date such payment is required to the date on which such payment is immediately available to the L/C Issuer at a rate per annum equal to the applicable Overnight Rate from time to time in effect,
plus any administrative, processing or similar fees customarily charged by the L/C Issuer in connection with the foregoing. A certificate of the L/C Issuer submitted to any Revolving Lender (through the Administrative Agent) with respect to
any amounts owing under this clause (vi) shall be conclusive absent manifest error. 
 (d) Repayment of
Participations. 
 (i) At any time after the L/C Issuer has made a payment under any Letter of Credit and has
received from any Revolving Lender such Revolving Lender’s L/C Advance in respect of such payment in accordance with Section 

 

 55 

 
2.04(c), if the Administrative Agent receives for the account of the L/C Issuer any payment in respect of the related Unreimbursed Amount or interest thereon (whether directly from the
Borrowers or otherwise, including proceeds of Cash Collateral applied thereto by the Administrative Agent), the Administrative Agent will distribute to such Revolving Lender its Pro Rata Share thereof in Dollars (appropriately adjusted, in the case
of interest payments, to reflect the period of time during which such Revolving Lender’s L/C Advance was outstanding) and in the same funds as those received by the Administrative Agent. 

(ii) If any payment received by the Administrative Agent for the account of the L/C Issuer pursuant to
Section 2.04(c)(i) is required to be returned under any of the circumstances described in Section 11.05 (including pursuant to any settlement entered into by the L/C Issuer in its discretion), each Revolving Lender shall pay
to the Administrative Agent for the account of the L/C Issuer its Pro Rata Share thereof on demand of the Administrative Agent, plus interest thereon from the date of such demand to the date such amount is returned by such Revolving Lender, at a
rate per annum equal to the applicable Overnight Rate from time to time in effect. The obligations of the Revolving Lenders under this clause shall survive the payment in full of the Obligations and the termination of this Agreement. 

(e) Obligations Absolute. The obligation of the Borrowers to reimburse the L/C Issuer for each drawing under each Letter of Credit
(whether or not issued for the account of a Restricted Subsidiary that is not a Borrower) and to repay each L/C Borrowing shall be joint and several and absolute, unconditional and irrevocable, and shall be paid strictly in accordance with the terms
of this Agreement under all circumstances, including the following: 
 (i) any lack of validity or enforceability
of such Letter of Credit, this Agreement, or any other agreement or instrument relating thereto; 
 (ii) the
existence of any claim, counterclaim, set-off, defense or other right that any Borrower or any Subsidiary may have at any time against any beneficiary or any transferee of such Letter of Credit (or any Person for whom any such beneficiary or any
such transferee may be acting), the L/C Issuer or any other Person, whether in connection with this Agreement, the transactions contemplated hereby or by such Letter of Credit or any agreement or instrument relating thereto, or any unrelated
transaction; 
 (iii) any draft, demand, certificate or other document or endorsement presented under or in
connection with such Letter of Credit proving to be forged, fraudulent, invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; or any loss or delay in the transmission or otherwise of any document
required in order to make a drawing under such Letter of Credit; 
 (iv) any payment by the L/C Issuer under such
Letter of Credit against presentation of a draft or certificate that does not strictly comply with the terms of such Letter of Credit, or any payment made by the L/C Issuer under such Letter of

  

 56 

 
Credit to any Person purporting to be a trustee in bankruptcy, debtor-in-possession, assignee for the benefit of creditors, liquidator, receiver or other representative of or successor to any
beneficiary or any transferee of such Letter of Credit, including any arising in connection with any proceeding under any Debtor Relief Law; 

(v) any adverse change in the relevant exchange rates or in the availability of the relevant Alternative Currency to the
Company or any other Borrower or in the relevant currency markets generally; or 
 (vi) any other circumstance or
happening whatsoever, whether or not similar to any of the foregoing, including any other circumstance that might otherwise constitute a defense available to, or a discharge of, any Borrower or any Subsidiary. 

The Borrower Agent shall promptly examine a copy of each Letter of Credit and each amendment thereto that is delivered to it and, in the
event of any claim of noncompliance with any Borrower’s instructions or other irregularity, the Borrower Agent will immediately notify the L/C Issuer. The Borrowers shall be conclusively deemed to have waived any such claim against the L/C
Issuer and its correspondents unless such notice is given as aforesaid. 
 (f) Role of L/C Issuer. Each Revolving
Lender and the Borrowers agree that, in paying any drawing under a Letter of Credit, the L/C Issuer shall not have any responsibility to obtain any document (other than any sight draft, certificates and documents expressly required by the Letter of
Credit) or to ascertain or inquire as to the validity or accuracy of any such document or the authority of the Person executing or delivering any such document. None of the L/C Issuer, the Administrative Agent, a Lender, any of their respective
Related Parties nor any correspondent, participant or assignee of the L/C Issuer shall be liable to any Lender for (i) any action taken or omitted in connection herewith at the request or with the approval of the Revolving Lenders or the
Required Lenders, as applicable; (ii) any action taken or omitted in the absence of gross negligence or willful misconduct; or (iii) the due execution, effectiveness, validity or enforceability of any document or instrument related to any
Letter of Credit or Issuer Document. Each Borrower hereby assumes all risks of the acts or omissions of any beneficiary or transferee with respect to its use of any Letter of Credit; provided, however, that this assumption is not
intended to, and shall not, preclude any Borrower’s pursuing such rights and remedies as it may have against the beneficiary or transferee at law or under any other agreement. None of the L/C Issuer, the Administrative Agent, any of their
respective Related Parties, nor any correspondent, participant or assignee of the L/C Issuer, shall be liable or responsible for any of the matters described in clauses (i) through (vi) of Section 2.04(e);
provided, however, that anything in such clauses to the contrary notwithstanding, the Borrowers may have a claim against the L/C Issuer, and the L/C Issuer may be liable to the Borrowers, to the extent, but only to the extent, of any
direct, as opposed to consequential or exemplary, damages suffered by the Borrowers which the Borrowers prove were caused by the L/C Issuer’s willful misconduct or gross negligence or the L/C Issuer’s willful failure to pay under any
Letter of Credit after the presentation to it by the beneficiary of a sight draft and certificate(s) strictly complying with the terms and conditions of a Letter of Credit presented for payment in strict compliance with its terms and conditions. In
furtherance and not in limitation of the foregoing, the L/C Issuer may accept documents that appear on their face to be in order, without responsibility for further 

 

 57 

 
investigation, regardless of any notice or information to the contrary, and the L/C Issuer shall not be responsible for the validity or sufficiency of any instrument endorsing, transferring or
assigning or purporting to endorse, transfer or assign a Letter of Credit or the rights or benefits thereunder or proceeds thereof, in whole or in part, which may prove to be invalid or ineffective for any reason. 

(g) Applicability of ISP and UCP. Unless otherwise expressly agreed by the L/C Issuer and the Borrower Agent, when a Letter of
Credit is issued (including any such agreement applicable to an Existing Letter of Credit), (i) the rules of the ISP shall apply to each standby Letter of Credit, and (ii) the rules of the Uniform Customs and Practice for Documentary
Credits, as most recently published by the International Chamber of Commerce at the time of issuance shall apply to each commercial Letter of Credit. 

(h) Letter of Credit Fees. Subject to the provisions of the last sentence of this subsection (h), the Borrowers shall pay to the
Administrative Agent for the account of each Revolving Lender in accordance with its Pro Rata Share, in Dollars, a Letter of Credit Fee for each Letter of Credit equal to the Applicable Rate for Eurocurrency Rate Loans times the Dollar
Equivalent of the daily maximum amount available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit); provided, however, any Letter of Credit Fees otherwise payable
for the account of a Defaulting Lender with respect to any Letter of Credit as to which such Defaulting Lender has not provided Cash Collateral satisfactory to the L/C Issuer pursuant to this Section 2.04 shall be payable, to the maximum
extent permitted by applicable Law, to the other Revolving Lenders in accordance with the upward adjustments in their respective Pro Rata Shares allocable to such Letter of Credit pursuant to Section 2.18(a)(iv), with the balance of such
fee, if any, payable to the L/C Issuer for its own account. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with
Section 1.07. Such Letter of Credit Fees shall be computed on a monthly basis in arrears. Such Letter of Credit Fees accrued through the last day of each month and shall be due and payable on the first day of each month, commencing with
the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. If there is any change in the Applicable Rate for Eurocurrency Rate Loans during any quarter, the daily
maximum amount of each Letter of Credit shall be computed and multiplied by the Applicable Rate for Eurocurrency Rate Loans separately for each period during such quarter that such Applicable Rate was in effect. At all times that the Default Rate
shall be applicable to any Loans pursuant to Section 2.09(b), the Letter of Credit Fees payable under this subsection (i) shall accrue and be payable at the Default Rate. 

(i) Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers shall pay directly to the L/C Issuer
for its own account, in Dollars, a fronting fee with respect to each Letter of Credit issued by the L/C Issuer in the amount of 0.125% times the Dollar Equivalent of the daily maximum amount available to be drawn under such Letter of Credit
(whether or not such maximum amount is then in effect under such Letter of Credit). Such fronting fees shall be computed on a monthly basis in arrears. Such fronting fee shall accrue through the last day of each month and shall be due and payable on
the first day of each month, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the

  

 58 

 
daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.07. In addition, the Borrowers
shall pay directly to the L/C Issuer for its own account, in Dollars, the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of the L/C Issuer relating to letters of credit issued by it as
from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable. 

(j) Conflict with Issuer Documents. In the event of any conflict between the terms hereof and the terms of any Issuer Document,
the terms hereof shall control. 
 (k) Letters of Credit Issued for Restricted Subsidiaries. Notwithstanding that a
Letter of Credit issued or outstanding hereunder is in support of any obligations of, or is for the account of, a Restricted Subsidiary or any other Borrower, each Borrower shall be obligated to reimburse the L/C Issuer hereunder for any and all
drawings under such Letter of Credit. Each Borrower hereby acknowledges that the issuance of Letters of Credit for the account of Restricted Subsidiaries or any other Borrower inures to the benefit of such Borrower, and that such Borrower’s
business derives substantial benefits from the businesses of such Restricted Subsidiaries or other Borrower. 
 2.05 Swing
Line Loans. 
 (a) The Swing Line. Subject to the terms and conditions set forth herein, the Swing Line Lender may,
but shall not be obligated to, make loans in reliance upon the agreements of the other Lenders set forth in this Section 2.05 in Dollars (each such loan, a “Swing Line Loan”) to the Borrowers from time to time on any
Business Day during the Availability Period in an aggregate amount not to exceed at any time outstanding the amount of the Swing Line Sublimit, notwithstanding the fact that such Swing Line Loans, when aggregated with the Pro Rata Share of the
Outstanding Amount of Revolving Loans and L/C Obligations of the Revolving Lender acting as Swing Line Lender, may exceed the amount of such Revolving Lender’s Revolving Credit Commitment; provided, however, that after giving
effect to any Swing Line Loan, (i) the Total Outstandings shall not exceed the Aggregate Commitments, and (ii) the aggregate Outstanding Amount of the Revolving Loans of any Revolving Lender plus such Revolving Lender’s Pro
Rata Share of the Outstanding Amount of all L/C Obligations, plus such Revolving Lender’s Pro Rata Share of the Outstanding Amount of all Swing Line Loans shall not exceed such Revolving Lender’s Revolving Credit Commitment, and
provided, further, that the Borrowers shall not use the proceeds of any Swing Line Loan to refinance any outstanding Swing Line Loan. Within the foregoing limits and subject to the discretion of the Swing Line Lender to make Swing Line
Loans, and subject to the other terms and conditions hereof, the Borrowers may borrow under this Section 2.05, prepay under Section 2.06, and reborrow under this Section 2.05. Each Swing Line Loan shall be a Base
Rate Revolving Loan. Immediately upon the making of a Swing Line Loan, each Revolving Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the Swing Line Lender a risk participation in such Swing Line Loan
in an amount equal to the product of such Revolving Lender’s Pro Rata Share times the amount of such Swing Line Loan. 

(b) Borrowing Procedures. Each Swing Line Borrowing shall be made upon the Borrower Agent’s irrevocable notice to the Swing
Line Lender and the Administrative Agent, 
  

 59 

 
which may be given by telephone. Each such notice must be received by the Swing Line Lender and the Administrative Agent not later than 12:00 noon on the requested borrowing date, and shall
specify (i) the amount to be borrowed, which shall be a minimum of $500,000 and integral multiples of $100,000 in excess thereof, and (ii) the requested borrowing date, which shall be a Business Day. Each such telephonic notice must be
confirmed promptly by delivery to the Swing Line Lender and the Administrative Agent of a written Swing Line Loan Notice, appropriately completed and signed by a Responsible Officer of the Borrower Agent. Promptly after receipt by the Swing Line
Lender of any telephonic Swing Line Loan Notice, the Swing Line Lender will (i) deliver notice to the Borrower Agent and the Administrative Agent as to whether it will or will not make such Swing Line Loan available to the Borrowers and, if
agreeing to make such Swing Line Loan, (ii) confirm with the Administrative Agent (by telephone or in writing) that the Administrative Agent has also received such Swing Line Loan Notice and, if not, the Swing Line Lender will notify the
Administrative Agent (by telephone or in writing) of the contents thereof. Unless the Swing Line Lender has received notice (by telephone or in writing) from the Administrative Agent (including at the request of any Revolving Lender) prior to 1:00
p.m. on the date of the proposed Swing Line Borrowing (A) directing the Swing Line Lender not to make such Swing Line Loan as a result of the limitations set forth in the proviso to the first sentence of Section 2.05(a), or
(B) that one or more of the applicable conditions specified in Article V is not then satisfied, then, subject to the terms and conditions hereof, the Swing Line Lender may, not later than 3:00 p.m. on the borrowing date specified in such
Swing Line Loan Notice, make the amount of its Swing Line Loan available to the Borrower Agent at its office by crediting the account of the Borrower Agent on the books of the Swing Line Lender in Same Day Funds. 

(c) Refinancing of Swing Line Loans. 

(i) The Swing Line Lender at any time in its sole and absolute discretion, but no less frequently than weekly, may
request, on behalf of the Borrowers (which hereby irrevocably authorizes the Swing Line Lender to so request on its behalf), that each Revolving Lender make a Base Rate Revolving Loan in an amount equal to such Revolving Lender’s Pro Rata Share
of the amount of Swing Line Loans then outstanding. Such request shall be made in writing (which written request shall be deemed to be a Revolving Loan Notice for purposes hereof) and in accordance with the requirements of Section 2.03,
without regard to the minimum and multiples specified therein for the principal amount of Base Rate Loans, but subject to the unutilized portion of the Aggregate Commitments and the conditions set forth in Section 5.02. The Swing Line
Lender shall furnish the Borrower Agent with a copy of the applicable Revolving Loan Notice promptly after delivering such notice to the Administrative Agent. Each Revolving Lender shall make an amount equal to its Pro Rata Share of the amount
specified in such Revolving Loan Notice available to the Administrative Agent in Same Day Funds (and the Administrative Agent may apply Cash Collateral available with respect to the applicable Swing Line Loan) for the account of the Swing Line
Lender at the Administrative Agent’s Office not later than 2:00 p.m. on the day specified in such Revolving Loan Notice, whereupon, subject to Section 2.05(c)(ii), each Revolving Lender that so makes funds available shall be deemed
to have made a Base Rate 
  

 60 

 
Revolving Loan to the Borrowers in such amount. The Administrative Agent shall remit the funds so received to the Swing Line Lender. 

(ii) If for any reason any Swing Line Loan cannot be refinanced by such a Revolving Borrowing in accordance with
Section 2.05(c)(i), the request for Base Rate Revolving Loans submitted by the Swing Line Lender as set forth herein shall be deemed to be a request by the Swing Line Lender that each of the Revolving Lenders fund its risk participation
in the relevant Swing Line Loan and each Revolving Lender’s payment to the Administrative Agent for the account of the Swing Line Lender pursuant to Section 2.05(c)(i) shall be deemed payment in respect of such participation.

 (iii) If any Revolving Lender fails to make available to the Administrative Agent for the account of the Swing
Line Lender any amount required to be paid by such Revolving Lender pursuant to the foregoing provisions of this Section 2.05(c) by the time specified in Section 2.05(c)(i), the Swing Line Lender shall be entitled to recover
from such Revolving Lender (acting through the Administrative Agent), on demand, such amount with interest thereon for the period from the date such payment is required to the date on which such payment is immediately available to the Swing Line
Lender at a rate per annum equal to the applicable Overnight Rate from time to time in effect, plus any administrative processing or similar fees customarily charged by the Swing Line Lender in connection with the foregoing. A certificate of
the Swing Line Lender submitted to any Revolving Lender (through the Administrative Agent) with respect to any amounts owing under this clause (iii) shall be conclusive absent manifest error. 

(iv) Each Revolving Lender’s obligation to make Revolving Loans or to purchase and fund risk participations in Swing
Line Loans pursuant to this Section 2.05(c) shall be absolute and unconditional and shall not be affected by any circumstance, including (A) any set-off, counterclaim, recoupment, defense or other right which such Revolving Lender
may have against the Swing Line Lender, the Borrowers or any other Person for any reason whatsoever, (B) the occurrence or continuance of a Default, or (C) any other occurrence, event or condition, whether or not similar to any of the
foregoing; provided, however, that each Revolving Lender’s obligation to make Revolving Loans pursuant to this Section 2.05(c) is subject to the conditions set forth in Section 5.02. No such funding of risk
participations shall relieve or otherwise impair the obligation of the Borrowers to repay Swing Line Loans, together with interest as provided herein. 

(d) Repayment of Participations. 

(i) At any time after any Revolving Lender has purchased and funded a risk participation in a Swing Line Loan, if the
Swing Line Lender receives any payment on account of such Swing Line Loan, the Swing Line Lender will distribute to such Revolving Lender its Pro Rata Share of such payment (appropriately adjusted, in the case of interest payments, to reflect the
period of time 
  

 61 

 
during which such Revolving Lender’s risk participation was funded) in the same funds as those received by the Swing Line Lender. 

(ii) If any payment received by the Swing Line Lender in respect of principal or interest on any Swing Line Loan is
required to be returned by the Swing Line Lender under any of the circumstances described in Section 11.05 (including pursuant to any settlement entered into by the Swing Line Lender in its discretion), each Revolving Lender shall pay to
the Swing Line Lender its Pro Rata Share thereof on demand of the Administrative Agent, plus interest thereon from the date of such demand to the date such amount is returned, at a rate per annum equal to the applicable Overnight Rate. The
Administrative Agent will make such demand upon the request of the Swing Line Lender. The obligations of the Lenders under this clause shall survive the payment in full of the Obligations and the termination of this Agreement. 

(e) Interest for Account of Swing Line Lender. The Swing Line Lender shall be responsible for invoicing the Borrowers for interest
on the Swing Line Loans. Until each Revolving Lender funds its Base Rate Revolving Loan or risk participation pursuant to this Section 2.05 to refinance such Revolving Lender’s Pro Rata Share of any Swing Line Loan, interest in
respect of such Pro Rata Share shall be solely for the account of the Swing Line Lender. 
 (f) Payments Directly to Swing
Line Lender. The Borrowers shall make all payments of principal and interest in respect of the Swing Line Loans directly to the Swing Line Lender. 

2.06 Prepayments. 

(a) The Borrowers may, upon notice from the Borrower Agent to the Administrative Agent, at any time or from time to time voluntarily
prepay Loans under the Revolving Credit Facility in whole or in part without premium or penalty; provided that (i) such notice must be received by the Administrative Agent not later than 11:00 a.m. (A) three Business Days prior to
any date of prepayment of Eurocurrency Rate Loans and (B) on the date of prepayment of Base Rate Loans; (ii) any prepayment shall be in a principal amount of $2,000,000 or a whole multiple of $1,000,000 in excess thereof or the entire
principal amount thereof then outstanding. Each such notice shall specify the date and amount of such prepayment, the Type(s) of Loans to be prepaid and, if Eurocurrency Rate Loans are to be prepaid, the Interest Period(s) of such Loans. The
Administrative Agent will promptly notify each applicable Lender of its receipt of each such notice, and of the amount of such Lender’s ratable share of such prepayment. If such notice is given by the Borrower Agent, any Borrower shall make
such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein. Any prepayment of a Eurocurrency Rate Loan shall be accompanied by all accrued interest on the amount prepaid, together with any
additional amounts required pursuant to Section 4.05. Subject to Section 2.18, each such prepayment shall be applied to the Loans of the applicable Lenders in accordance with their Pro Rata Shares. 

(b) The Borrowers may, upon notice by the Borrower Agent to the Swing Line Lender (with a copy to the Administrative Agent), at any time
or from time to time, voluntarily 
  

 62 

 
prepay Swing Line Loans in whole or in part without premium or penalty; provided that (i) such notice must be received by the Swing Line Lender and the Administrative Agent not later
than 1:00 p.m. on the date of the prepayment, and (ii) any such prepayment shall be in a minimum principal amount of $500,000 or a whole multiple of $100,000 in excess thereof. Each such notice shall specify the date and amount of such
prepayment. If such notice is given, the Borrower Agent shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein. 

(c) If for any reason the Total Outstandings at any time exceed the Aggregate Revolving Credit Commitments then in effect, the Borrowers
shall immediately prepay Revolving Loans and/or Swing Line Loans and/or Cash Collateralize the L/C Obligations in an aggregate amount equal to such excess; provided, however, that the Borrowers shall not be required to Cash
Collateralize the L/C Obligations pursuant to this Section 2.06(c) unless after the prepayment in full of the Revolving Loans and Swing Line Loans, the Total Outstandings exceed the Aggregate Commitments then in effect. 

(d) In addition to any optional payments of principal of the Revolving Loans effected under subsection (a) above, if a
Dominion Trigger Period then exists, no later than 30 calendar days following the receipt of any Net Cash Proceeds from any Disposition of Collateral permitted by Section 8.05(g), the Borrower Agent shall deliver to the Administrative
Agent a calculation of the amount of such Net Cash Proceeds and the Borrowers shall make, or shall cause the Borrower Agent to make, a prepayment to the Administrative Agent, for the benefit of the applicable Lenders, of the Outstanding Amount of
the Revolving Loans in an amount equal to one hundred percent (100%) of such Net Cash Proceeds. 
 (e) Any prepayment of a
Eurocurrency Rate Loan under this Section 2.06 shall be accompanied by all accrued interest thereon, together with any additional amounts required pursuant to Section 4.05. Each prepayment under this Section 2.06
shall be applied to the Loans of the applicable Lenders in accordance with their Pro Rata Shares. 
 2.07 Termination or
Reduction of Commitments. The Borrowers may, upon notice by the Borrower Agent to the Administrative Agent, terminate the Aggregate Commitments, or from time to time permanently reduce the Aggregate Commitments; provided that (i) any
such notice shall be received by the Administrative Agent not later than 11:00 a.m. five Business Days prior to the date of termination or reduction, (ii) any such partial reduction shall be in an aggregate amount of $5,000,000 or any whole
multiple of $1,000,000 in excess thereof, or the entire remaining Aggregate Commitments, (iii) the Borrowers shall not terminate or reduce the Aggregate Commitments if, after giving effect thereto and to any concurrent prepayments hereunder,
the Total Outstandings would exceed the Aggregate Commitments, and (iv) if, after giving effect to any reduction of the Aggregate Commitments, the Letter of Credit Sublimit or the Swing Line Sublimit exceeds the amount of the Aggregate
Commitments, such sublimit shall be automatically reduced by the amount of such excess. The Administrative Agent will promptly notify the Lenders of any such notice of termination or reduction of the Aggregate Commitments. The amount of any such
Aggregate Commitment reduction shall not be applied to the Letter of Credit Sublimit unless otherwise specified by the Borrower Agent. Any reduction of the Aggregate Commitments shall be applied to the Revolving Credit Commitment of each Revolving
Lender according to its Pro Rata Share. All commitment fees accrued until 
  

 63 

 
the effective date of any termination of the Aggregate Commitments shall be paid on the effective date of such termination. 

2.08 Repayment of Loans. 

(a) Each Borrower jointly and severally agrees to repay to the Revolving Lenders on the Revolving Credit Maturity Date the aggregate
principal amount of Revolving Loans outstanding on such date. 
 (b) Each Borrower jointly and severally agrees to repay each
Swing Line Loan on the earlier to occur of (i) the date ten Business Days after such Loan is made and (ii) the Revolving Credit Maturity Date. 

(c) Each Borrower jointly and severally agrees to repay all Obligations other than Revolving Loans, including L/C Obligations and costs
and expenses pursuant to Section 11.04(a), as provided in the Loan Documents or, if no payment date is specified, within 2 Business Days of a demand therefor by the Administrative Agent. 

(d) The Loans, L/C Obligations and other Obligations shall constitute one general obligation of Borrowers and (unless otherwise expressly
provided in any Loan Document) shall be secured by Administrative Agent’s Lien upon all Collateral; provided, however, that Administrative Agent and each Lender shall be deemed to be a creditor of, and the holder of a separate
claim against, each Borrower to the extent of any Obligations jointly or severally owed by such Borrower. 
 2.09
Interest. 
 (a) Subject to the provisions of subsection (b) below, (i) each Eurocurrency Rate Loan shall
bear interest on the outstanding principal amount thereof for each Interest Period at a rate per annum equal to the Eurocurrency Rate for such Interest Period plus the Applicable Rate; (ii) each Base Rate Loan shall bear interest on the
outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal to the Base Rate plus the Applicable Rate; and (iii) each Swing Line Loan shall bear interest on the outstanding principal amount thereof
from the applicable borrowing date at a rate per annum equal to the Base Rate plus the Applicable Rate. 
 (b) If any
amount payable by any Borrower under any Loan Document is not paid when due (without regard to any applicable grace periods), whether at stated maturity, by acceleration or otherwise, such amount shall thereafter bear interest at a fluctuating
interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws. Furthermore, while any Event of Default exists, the Borrowers shall pay interest, at a fluctuating interest rate per annum at all
times equal to the Default Rate to the fullest extent permitted by applicable Laws, on the principal amount of all outstanding Obligations upon the affirmative vote of the Required Lenders. Accrued and unpaid interest on past due amounts (including
interest on past due interest) shall be due and payable upon demand. 
 (c) Interest on each Loan shall be due and payable in
arrears on each Interest Payment Date applicable thereto and at such other times as may be specified herein. Interest hereunder 

 

 64 

 
shall be due and payable in accordance with the terms hereof before and after judgment, and before and after the commencement of any proceeding under any Debtor Relief Law. 

2.10 Fees. In addition to certain fees described in subsections (h) and (i) of Section 2.04:

 (a) Commitment Fee. The Borrowers shall pay to the Administrative Agent for the account of each Revolving Lender in
accordance with its Pro Rata Share, a commitment fee (the “Commitment Fee”) in Dollars equal to 0.50% times the actual daily amount by which the Aggregate Commitments exceed the sum of (i) the Outstanding Amount
of Revolving Loans (but not Swing Line Loans) and (ii) the Outstanding Amount of L/C Obligations, subject to adjustment as provided in Section 2.18. The Commitment Fee shall accrue at all times during the Availability Period,
including at any time during which one or more of the conditions in Article V is not met, and the amount accrued through the end of each month shall be due and payable in arrears on the first day of each month, commencing with the first such
date to occur after the Closing Date and on the Revolving Credit Maturity Date. The Commitment Fee shall be calculated monthly in arrears. 

(b) Other Fees. The Borrowers shall pay to the Arrangers, the Administrative Agent and each of the Lenders, for their own
respective accounts, in Dollars, such fees as shall have been separately agreed upon in writing (including in the Fee Letter) in the amounts and at the times so specified, including an annual administrative fee payable to the Administrative Agent.
Such fees shall be fully earned when paid and shall not be refundable for any reason whatsoever. 
 2.11 Computation of
Interest and Fees; Retroactive Adjustments of Applicable Rate. (a) All computations of interest for Base Rate Loans (including when the Base Rate is determined by reference to the Eurocurrency Rate) shall be made on the basis of a year of
365 or 366 days, as the case may be, and actual days elapsed. All other computations of fees and interest shall be made on the basis of a 360-day year and actual days elapsed (which results in more fees or interest, as applicable, being paid than if
computed on the basis of a 365/366-day year). Interest shall accrue on each Loan for the day on which the Loan is made, and shall not accrue on a Loan, or any portion thereof, for the day on which the Loan or such portion is paid, provided that any
Loan that is repaid on the same day on which it is made shall, subject to Section 2.13(a), bear interest for one day. Each determination by the Administrative Agent of an interest rate or fee hereunder shall be conclusive and binding for
all purposes, absent manifest error. 
 (b) If, as a result of any restatement of or other adjustment to the financial
statements of the Company or for any other reason, the Company or the Lenders determine that (i) Average Availability as of any applicable date was inaccurate and (ii) a proper calculation of Average Availability would have resulted in
higher pricing for such period, the Borrower Agent shall immediately and retroactively be obligated to pay to the Administrative Agent for the account of the applicable Lenders, promptly on demand by the Administrative Agent (or, after the
occurrence of an actual or deemed entry of an order for relief with respect to any Borrower under the Bankruptcy Code of the United States, automatically and without further action by the Administrative Agent, any Lender or the L/C Issuer), an
amount equal to the excess of the amount of interest and fees that should have been paid for such period over the amount of 
  

 65 

 
interest and fees actually paid for such period. This paragraph shall not limit the rights of the Administrative Agent, any Lender or the L/C Issuer, as the case may be, under
Section 2.04(c)(iii), 2.04(h) or 2.09(b) or under Article IX. Each Borrower’s obligations under this paragraph shall survive the termination of the Aggregate Commitments and the repayment of all other
Obligations hereunder. 
 2.12 Evidence of Debt. 

(a) The Credit Extensions made by each Lender shall be evidenced by one or more accounts or records (a “Loan Account”)
maintained by such Lender and by the Administrative Agent in the ordinary course of business. The Loan Accounts maintained by the Administrative Agent and each Lender shall be conclusive absent manifest error of the amount of the Credit Extensions
made by the Lenders to the Borrowers and the interest and payments thereon. Any failure to so record or any error in doing so shall not, however, limit or otherwise affect the obligation of the Borrowers hereunder to pay any amount owing with
respect to the Obligations. In the event of any conflict between the Loan Accounts maintained by any Lender and the Loan Accounts of the Administrative Agent in respect of such matters, the Loan Accounts of the Administrative Agent shall control in
the absence of manifest error. Upon the request of any Lender made through the Administrative Agent, the Borrowers shall execute and deliver to such Lender (through the Administrative Agent) a Revolving Loan Note, which shall evidence such
Lender’s Loans in addition to such Loan Accounts. Each Lender may attach schedules to its Revolving Loan Note and endorse thereon the date, Type (if applicable), amount, currency and maturity of its Loans and payments with respect thereto. The
Administrative Agent and each Lender may maintain a single Loan Account in the name of Borrower Agent or the Borrowers, and each Borrower confirms that such arrangement shall have no effect on the joint and several character of its liability for the
Obligations. 
 (b) In addition to the accounts and records referred to in subsection (a), each Lender and the Administrative
Agent shall maintain in accordance with its usual practice accounts or records evidencing the purchases and sales by such Lender of participations in Letters of Credit and Swing Line Loans. In the event of any conflict between the accounts and
records maintained by the Administrative Agent and the accounts and records of any Lender in respect of such matters, the accounts and records of the Administrative Agent shall control in the absence of manifest error. 

(c) Entries made in good faith by the Administrative Agent in the Register pursuant to Section 2.12(b), and by each Lender in
its account or accounts pursuant to Section 2.12(a), shall be prima facie evidence of the amount of principal and interest due and payable or to become due and payable from the Borrowers to, in the case of the Register, each Lender and,
in the case of such account or accounts, such Lender, under this Agreement and the other Loan Documents, absent manifest error; provided that the failure of the Administrative Agent or any Lender to make an entry, or any finding that any
entry is incorrect, in the Register or such account or accounts shall not limit or otherwise affect the Obligations. 
  

 66 

 2.13 Payments Generally; Administrative Agent’s Clawback. 

(a) General. All payments to be made by the Borrowers shall be made without condition or deduction for any counterclaim, defense,
recoupment or setoff. Except as otherwise expressly provided herein, all payments by the Borrowers hereunder shall be made to the Administrative Agent, for the account of the respective Lenders to which such payment is owed, at the applicable
Administrative Agent’s Office in Dollars and in Same Day Funds not later than 2:00 p.m. on the date specified herein. The Administrative Agent will promptly distribute to such Lender its ratable share (or other applicable share as provided
herein) of such payment in like funds as received by wire transfer to such Lender’s Lending Office. All payments received by the Administrative Agent (i) after 2:00 p.m. shall be deemed received on the next succeeding Business Day and any
applicable interest or fee shall continue to accrue. If any payment to be made by any Borrower shall come due on a day other than a Business Day, payment shall be made on the next following Business Day, and such extension of time shall be reflected
in computing interest or fees, as the case may be. 
 (b) Application of Dominion Account Balances and other Amounts.
During any Dominion Trigger Period, the ledger balance in the main Dominion Account as of the end of a Business Day shall be applied to the Obligations at the beginning of the next Business Day. If, as a result of such application, a credit balance
exists, the balance shall not accrue interest in favor of Borrowers and shall be made available to Borrowers as long as no Default or Event of Default exists. Each Borrower irrevocably waives the right to direct the application of any payments or
Collateral proceeds, and agrees that Administrative Agent shall have the continuing, exclusive right to apply and reapply same against the Obligations, in such manner as Administrative Agent deems advisable. 

(c) Presumption by Administrative Agent. 

(i) Funding by Lenders. Unless the Administrative Agent shall have received notice from a Lender prior to the
proposed date of any Borrowing of Eurocurrency Rate Loans (or, in the case of any Borrowing of Base Rate Loans, prior to 1:00 p.m. on the date of such Borrowing) that such Lender will not make available to the Administrative Agent such Lender’s
share of such Borrowing, the Administrative Agent may assume that such Lender has made such share available on such date in accordance with Section 2.03 (or, in the case of a Borrowing of Base Rate Loans, that such Lender has made such
share available in accordance with and at the time required by Section 2.03) and may, in reliance upon such assumption, make available to the Borrowers a corresponding amount. In such event, if a Lender has not in fact made its share of
the applicable Borrowing available to the Administrative Agent, then the applicable Lender and the Borrowers jointly and severally agree to pay to the Administrative Agent forthwith on demand such corresponding amount in Same Day Funds with interest
thereon, for each day from and including the date such amount is made available to the Borrowers to but excluding the date of payment to the Administrative Agent, at (A) in the case of a payment to be made by such Lender, the Overnight Rate,
plus any administrative, processing or similar fees customarily charged by the Administrative Agent in connection with the foregoing, and (B) in the case of a payment to be made by the

  

 67 

 
Borrowers, the interest rate applicable to Base Rate Loans; provided that the Administrative Agent agrees that it shall first make a request (which request may be telephonic) for payment
from such applicable Lender before making a request with respect thereto to the Borrowers. If the Borrowers and such Lender shall pay such interest to the Administrative Agent for the same or an overlapping period, the Administrative Agent shall
promptly remit to the Borrower Agent the amount of such interest paid by the Borrowers for such period. If such Lender pays its share of the applicable Borrowing to the Administrative Agent, then the amount so paid shall constitute such
Lender’s Revolving Loan included in such Borrowing. Any payment by the Borrowers shall be without prejudice to any claim the Borrowers may have against a Lender that shall have failed to make such payment to the Administrative Agent.

 (ii) Payments by Borrower. Unless the Administrative Agent shall have received notice from the Borrower
Agent prior to the date on which any payment is due to the Administrative Agent for the account of the Lenders or the L/C Issuer hereunder that the Borrowers will not make such payment, the Administrative Agent may assume that the applicable
Borrower has made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Lenders or the L/C Issuer, as the case may be, the amount due. In such event, if the applicable Borrower has not in fact
made such payment, then each of the Lenders or the L/C Issuer, as the case may be, severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such Lender or the L/C Issuer, in Same Day Funds with interest
thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the Overnight Rate. 

A notice of the Administrative Agent to any Lender or the Borrower Agent with respect to any amount owing under this subsection
(c) shall be conclusive, absent manifest error. 
 (d) Failure to Satisfy Conditions Precedent. If any Lender
makes available to the Administrative Agent funds for any Loan to be made by such Lender as provided in the foregoing provisions of this Article II, and such funds are not made available to the applicable Borrower by the Administrative Agent
because the conditions to the applicable Credit Extension set forth in Article V are not satisfied or waived in accordance with the terms hereof, the Administrative Agent shall return such funds (in like funds as received from such Lender) to
such Lender, without interest. 
 (e) Obligations of Lenders Several. The obligations of the Lenders hereunder to make
Revolving Loans and to fund participations in Letters of Credit and Swing Line Loans and to make payments pursuant to Section 11.04(c) are several and not joint. The failure of any Lender to make any Revolving Loan, to fund any
participation in Letters of Credit and Swing Line Loans or to make any payment under Section 11.04(c) on any date required hereunder shall not relieve any other Lender of its corresponding obligation to do so on such date, and no Lender
shall be responsible for the failure of any other Lender to so make its Revolving Loan, to purchase its participations in Letters of Credit and Swing Line Loans or to make its payment under Section 11.04(c). 

 

 68 

 (f) Funding Source. Nothing herein shall be deemed to obligate any Lender to obtain
the funds for any Loan in any particular place or manner or to constitute a representation by any Lender that it has obtained or will obtain the funds for any Loan in any particular place or manner. 

2.14 Sharing of Payments by Lenders. If any Lender shall, by exercising any right of setoff or counterclaim or otherwise, obtain
payment in respect of any principal of or interest on any of the Revolving Loans or the participations in L/C Obligations or in Swing Line Loans held by it resulting in such Lender’s receiving payment of a proportion of the aggregate amount of
such Loans or participations and accrued interest thereon greater than its ratable share thereof as provided herein, then the Lender receiving such greater proportion shall (a) notify the Administrative Agent of such fact, and (b) purchase
(for cash at face value) participations in the applicable Revolving Loans and subparticipations in the participations in L/C Obligations or Swing Line Loans, of the other Lenders, as the case may be, or make such other adjustments as shall be
equitable, so that the benefit of all such payments shall be shared by the applicable Lenders ratably in accordance with the aggregate amount of principal of and accrued interest on their respective Revolving Loans and/or other amounts owing them,
provided that: 
 (i) if any such participations or subparticipations are purchased and all or any portion
of the payment giving rise thereto is recovered, such participations or subparticipations shall be rescinded and the purchase price restored to the extent of such recovery, without interest; and 

(ii) the provisions of this Section shall not be construed to apply to (x) any payment made by or on behalf of the
Borrowers pursuant to and in accordance with the express terms of this Agreement (including the application of funds arising from the existence of a Defaulting Lender), (y) the application of Cash Collateral provided for in
Section 2.17, or (z) any payment obtained by a Lender as consideration for the assignment of or sale of a participation in any of its Revolving Loans or subparticipations in L/C Obligations or Swing Line Loans to any assignee or
participant, other than an assignment to any Borrower or any Subsidiary thereof (as to which the provisions of this Section shall apply). 

Each Borrower consents to the foregoing and agrees, to the extent it may effectively do so under applicable law, that any Lender
acquiring a participation pursuant to the foregoing arrangements may exercise against such Borrower rights of setoff and counterclaim with respect to such participation as fully as if such Lender were a direct creditor of such Borrower in the amount
of such participation. 
 2.15 Increase in Revolving Credit Facility. 

(a) Request for Increase. Provided there exists no Event of Default, upon notice to the Administrative Agent (which shall promptly
notify the Revolving Lenders), the Borrower Agent may from time to time request an increase in the Aggregate Commitments by an amount (for all such requests) not exceeding $150,000,000 in the aggregate; provided that any such request for an
increase shall be in a minimum amount of $25,000,000 or, if less, the entire unutilized amount of the maximum amount of all such requests set forth above. At the time of 

 

 69 

 
sending such notice, the Borrower Agent (in consultation with the Administrative Agent) shall specify the time period within which each applicable Revolving Lender is requested to respond (which
shall in no event be less than five Business Days from the date of delivery of such notice to the applicable Revolving Lenders). 

(b) Revolving Lender Elections to Increase. Each Revolving Lender shall notify the Administrative Agent within such time period
whether or not it agrees to commit to a portion of the requested increase of the Revolving Credit Facility and, if so, whether by an amount equal to, greater than, or less than its Pro Rata Share. Any Revolving Lender not responding within such time
period shall be deemed to have declined to commit to any portion of the requested increase. 
 (c) Notification by
Administrative Agent; Additional Revolving Lenders. The Administrative Agent shall notify the Borrower Agent and each Revolving Lender of the Revolving Lenders’ responses to each request made hereunder. To achieve the full amount of a
requested increase and subject to the approval of the Administrative Agent (which approval shall not be unreasonably withheld), the Borrower Agent may also invite additional financial institutions that are not Lenders (each acceptable to the
Administrative Agent in the exercise of its reasonable discretion) to become Revolving Lenders pursuant to a joinder agreement in form and substance satisfactory to the Administrative Agent and its counsel in the exercise of their reasonable
discretion (each such financial institution issuing a commitment and becoming a Revolving Lender, an “Additional Commitment Lender”), provided, however, that without the consent of the Administrative Agent, at no time shall the
Commitment of any Additional Commitment Lender be less than $5,000,000. 
 (d) Effective Date and Allocations. If the
Aggregate Commitments are increased in accordance with this Section 2.15, the Administrative Agent and the Borrower Agent shall determine the effective date (the “Increase Effective Date”) and the final allocation of
such increase. The Administrative Agent shall promptly notify the Borrower Agent and the Revolving Lenders of the final allocation of such increase and the Increase Effective Date. 

(e) Conditions to Effectiveness of Increase. As a condition precedent to such increase, the Borrower Agent shall deliver to the
Administrative Agent a certificate of each Borrower dated as of the Increase Effective Date (in sufficient copies for each Lender) signed by a Responsible Officer of such Borrower (i) certifying and attaching the resolutions adopted by such
Borrower approving or consenting to such increase, and (ii) in the case of the Borrower Agent, certifying that, before and after giving effect to such increase, (A) the representations and warranties contained in Article VI and the
other Loan Documents, or which are contained in any document furnished at any time under or in connection herewith or therewith, are true and correct on and as of the Increase Effective Date, except to the extent that such representations and
warranties specifically refer to an earlier date, in which case they are true and correct as of such earlier date, and except that for purposes of this Section 2.15, the representations and warranties contained in subsections
(a) and (b) of Section 6.05 shall be deemed to refer to the most recent statements furnished pursuant to clauses (a) and (b), respectively, of Section 7.01, and (B) no Default
exists. The Revolving Loans outstanding on the Increase Effective Date shall be reallocated and adjusted between and among the applicable Lenders, and the Borrowers shall pay any additional amounts required pursuant to Section 4.05
resulting therefrom, to the extent necessary to keep the outstanding applicable Revolving Loans ratable among the applicable 
  

 70 

 
Lenders with any revised Pro Rata Shares, as applicable, arising from any nonratable increase in the applicable Revolving Loans under this Section 2.15. 

(f) Conflicting Provisions. This Section 2.15 shall supersede any provisions in Section 2.14 or
11.01 to the contrary. 
 2.16 Nature and Extent of Each Borrower’s Liability. 

(a) Joint and Several Liability. Each Borrower agrees that it is jointly and severally liable for, and absolutely and
unconditionally guarantees to Administrative Agent and Lenders the prompt payment and performance of, all Obligations and all agreements under the Loan Documents. Each Borrower agrees that its guaranty obligations hereunder constitute a continuing
guaranty of payment and not of collection, that such obligations shall not be discharged until the Facility Termination Date, and that such obligations are absolute and unconditional, irrespective of (i) the genuineness, validity, regularity,
enforceability, subordination or any future modification of, or change in, any Obligations or Loan Document, or any other document, instrument or agreement to which any Borrower is or may become a party or be bound; (ii) the absence of any
action to enforce this Agreement (including this Section) or any other Loan Document, or any waiver, consent or indulgence of any kind by Administrative Agent or any Lender with respect thereto; (iii) the existence, value or condition of, or
failure to perfect a Lien or to preserve rights against, any security or guaranty for the Obligations or any action, or the absence of any action, by Administrative Agent or any Lender in respect thereof (including the release of any security or
guaranty); (iv) the insolvency of any Borrower; (v) any election by the Administrative Agent or any Lender in proceeding under Debtor Relief Laws for the application of Section 1111(b)(2) of the Bankruptcy Code; (vi) any
borrowing or grant of a Lien by any other Borrower, as debtor-in-possession under Section 364 of the Bankruptcy Code or otherwise; (vii) the disallowance of any claims of Administrative Agent or any Lender against any Borrower for the
repayment of any Obligations under Section 502 of the Bankruptcy Code or otherwise; or (viii) any other action or circumstances that might otherwise constitute a legal or equitable discharge or defense of a surety or guarantor, except full
payment in cash or Cash Collateralization of all Obligations on the Facility Termination Date. 
 (b) Waivers. To the
greatest extent permitted by applicable Law: 
 (i) Each Borrower expressly waives all rights that it may have
now or in the future under any statute, at common law, in equity or otherwise, to compel the Administrative Agent or Lenders to marshal assets or to proceed against any Borrower, other Person or security for the payment or performance of any
Obligations before, or as a condition to, proceeding against such Borrower. Each Borrower waives all defenses available to a surety, guarantor or accommodation co-obligor other than full payment of all Obligations. It is agreed among each Borrower,
Administrative Agent and Lenders that the provisions of this Section 2.16 are of the essence of the transaction contemplated by the Loan Documents and that, but for such provisions, Administrative Agent and Lenders would decline to make
Loans and issue Letters of Credit. Each Borrower acknowledges that its guaranty pursuant to this Section is necessary to the conduct and promotion of its business, and can be expected to benefit such business. 

 

 71 

 (ii) Administrative Agent and Lenders may, in their discretion, pursue such
rights and remedies as they deem appropriate, including realization upon Collateral by judicial foreclosure or non-judicial sale or enforcement, without affecting any rights and remedies under this Section 2.16. If, in taking any action
in connection with the exercise of any rights or remedies, the Administrative Agent or any Lender shall forfeit any other rights or remedies, including the right to enter a deficiency judgment against any Borrower or other Person, whether because of
any Applicable Laws pertaining to “election of remedies” or otherwise, each Borrower consents to such action and waives any claim based upon it, even if the action may result in loss of any rights of subrogation that such Borrower might
otherwise have had. Any election of remedies that results in denial or impairment of the right of the Administrative Agent or any Lender to seek a deficiency judgment against any Borrower shall not impair any other Borrower’s obligation to pay
the full amount of the Obligations. Each Borrower waives all rights and defenses arising out of an election of remedies, such as nonjudicial foreclosure with respect to any security for the Obligations, even though that election of remedies destroys
such Borrower’s rights of subrogation against any other Person. The Administrative Agent may bid all or a portion of the Obligations at any foreclosure or trustee’s sale or at any private sale, and the amount of such bid need not be paid
by the Administrative Agent but shall be credited against the Obligations. The amount of the successful bid at any such sale, whether the Administrative Agent or any other Person is the successful bidder, shall be conclusively deemed to be the fair
market value of the Collateral, and the difference between such bid amount and the remaining balance of the Obligations shall be conclusively deemed to be the amount of the Obligations guaranteed under this Section 2.16, notwithstanding
that any present or future law or court decision may have the effect of reducing the amount of any deficiency claim to which the Administrative Agent or any Lender might otherwise be entitled but for such bidding at any such sale. 

(c) Extent of Liability; Contribution. 

(i) Notwithstanding anything herein to the contrary, each Borrower’s liability under this Section 2.16
shall be limited to the greater of (i) all amounts for which such Borrower is primarily liable, as described below, and (ii) such Borrower’s Allocable Amount. 

(ii) If any Borrower makes a payment under this Section 2.16 of any Obligations (other than amounts for which
such Borrower is primarily liable) (a “Guarantor Payment”) that, taking into account all other Guarantor Payments previously or concurrently made by any other Borrower, exceeds the amount that such Borrower would otherwise
have paid if each Borrower had paid the aggregate Obligations satisfied by such Guarantor Payments in the same proportion that such Borrower’s Allocable Amount bore to the total Allocable Amounts of all Borrowers, then such Borrower shall be
entitled to receive contribution and indemnification payments from, and to be reimbursed by, each other Borrower for the amount of such excess, pro rata based upon their respective Allocable Amounts in effect immediately prior to such Guarantor
Payment. The “Allocable Amount” for any 
  

 72 

 
Borrower shall be the maximum amount that could then be recovered from such Borrower under this Section 2.16 without rendering such payment voidable under Section 548 of the
Bankruptcy Code or under any applicable state fraudulent transfer or conveyance act, or similar statute, common law or any other Law. 

(iii) Nothing contained in this Section 2.16 shall limit the liability of any Borrower to pay Loans made
directly or indirectly to that Borrower (including Loans advanced to any other Borrower and then re-loaned or otherwise transferred to, or for the benefit of, such Borrower), L/C Obligations relating to Letters of Credit issued to support such
Borrower’s business, and all accrued interest, fees, expenses and other related Obligations with respect thereto, for which such Borrower shall be primarily liable for all purposes hereunder. The Administrative Agent and Lenders shall have the
right, at any time in their discretion, to condition Loans and Letters of Credit upon a separate calculation of borrowing availability for each Borrower and to restrict the disbursement and use of such Loans and Letters of Credit to such Borrower.

 (d) Joint Enterprise. Each Borrower has requested that the Administrative Agent and Lenders make this credit facility
available to Borrowers on a combined basis. The Borrowers acknowledge that the Administrative Agent’s and Lenders’ willingness to extend credit and to administer the Collateral on a combined basis hereunder is done at Borrowers’
request. 
 (e) Subordination. Each Borrower hereby subordinates any claims, including any rights at law or in equity to
payment, subrogation, reimbursement, exoneration, contribution, indemnification or set off, that it may have at any time against any other Borrower, howsoever arising, to the full payment in cash or Cash Collateralization of all Obligations on the
Facility Termination Date. 
 2.17 Cash Collateral. 

(a) Certain Credit Support Events. Upon the request of the Administrative Agent or the L/C Issuer (i) if the L/C Issuer has
honored any full or partial drawing request under any Letter of Credit upon presentation and such drawing has resulted in an L/C Borrowing or (ii) if, as of the Letter of Credit Expiration Date, any L/C Obligation for any reason remains
outstanding, the Borrowers shall, in each case, immediately Cash Collateralize the then Outstanding Amount of all L/C Obligations. Upon the request of the Administrative Agent or the L/C Issuer, if the Outstanding Amount of all L/C Obligations as of
any Revaluation Date exceeds the Letter of Credit Sublimit then in effect, the Borrowers shall immediately Cash Collateralize the then Outstanding Amount of all L/C Obligations in excess of the Letter of Credit Sublimit. At any time that there shall
exist a Defaulting Lender, immediately upon the request of the Administrative Agent or the L/C Issuer, the Borrowers shall deliver to the Administrative Agent Cash Collateral in an amount sufficient to cover all Fronting Exposure in respect of
clause (a) of the definition thereof (after giving effect to Section 2.18(a)(iv) and any Cash Collateral provided by the Defaulting Lender). 

(b) Grant of Security Interest. All Cash Collateral (other than credit support not constituting funds subject to deposit) shall be
maintained in blocked, non-interest bearing deposit 
  

 73 

 
accounts at Bank of America. The Borrowers, and to the extent provided by any Lender, such Lender, hereby grants to (and subjects to the control of) the Administrative Agent, for the benefit of
the Administrative Agent, the L/C Issuer and the Lenders, and agrees to maintain, a first priority security interest in all such cash, deposit accounts and all balances therein, and all other property so provided as collateral pursuant hereto, and
in all proceeds of the foregoing, all as security for the obligations to which such Cash Collateral may be applied pursuant to Section 2.17(c). If at any time the Administrative Agent determines that Cash Collateral is subject to any
right or claim of any Person other than a Secured Party as herein provided, or that the total amount of such Cash Collateral is less than the applicable Fronting Exposure and other obligations secured thereby, the Borrowers or the relevant
Defaulting Lender will, promptly upon demand by the Administrative Agent, pay or provide to the Administrative Agent additional Cash Collateral in an amount sufficient to eliminate such deficiency. 

(c) Application. Notwithstanding anything to the contrary contained in this Agreement, Cash Collateral provided under any
of this Section 2.17 or Sections 2.04, 2.18 or 9.02 in respect of Letters of Credit, Swing Line Loans or Protective Advances shall be held and applied to the satisfaction of the specific L/C Obligations, Swing Line
Loans, Protective Advances and obligations to fund participations therein (including, as to Cash Collateral provided by a Defaulting Lender, any interest accrued on such obligation), prior to any other application of such property as may be provided
for herein.  
 (d) Release. Cash Collateral (or the appropriate portion thereof) provided to reduce Fronting
Exposure or L/C Obligations shall be released promptly following (i) the elimination of the applicable Fronting Exposure or L/C Obligations giving rise thereto (including by the termination of Defaulting Lender status of the applicable Lender
(or, as appropriate, its assignee following compliance with Section 11.06(b)(vi))) or (ii) the Administrative Agent’s good faith determination that there exists excess Cash Collateral; provided, however, (x) that
Cash Collateral furnished by or on behalf of a Borrower shall not be released during the continuance of a Default or Event of Default (and following application as provided in this Section 2.17 may be otherwise applied in accordance with
Section 9.03), (y) in the case of Cash Collateral provided by the Borrowers, the Borrower Agent and the L/C Issuer may mutually agree that Cash Collateral shall not be released but instead held to support future L/C Obligations, and
(z) in the case of Cash Collateral provided by a Defaulting Lender, such Defaulting Lender and the Administrative Agent, the L/C Issuer or the Swing Line Lender, as applicable, may agree that Cash Collateral shall not be released but instead
held to support future anticipated Fronting Exposure. 
 2.18 Defaulting Lenders. 

(a) Adjustments. Notwithstanding anything to the contrary contained in this Agreement, if any Lender becomes a Defaulting Lender,
then, until such time as that Lender is no longer a Defaulting Lender, to the extent permitted by applicable Law: 

(i) Waivers and Amendments. That Defaulting Lender’s right to approve or disapprove any amendment, waiver or
consent with respect to this Agreement shall be restricted as set forth in Section 11.01. 
  

 74 

 (ii) Reallocation of Payments. Any payment of principal, interest,
fees or other amounts received by the Administrative Agent for the account of that Defaulting Lender (whether voluntary or mandatory, at maturity, pursuant to Article IX or otherwise, and including any amounts made available to the
Administrative Agent by that Defaulting Lender pursuant to Section 11.08), shall be applied at such time or times as may be determined by the Administrative Agent as follows: first, to the payment of any amounts owing by that
Defaulting Lender to the Administrative Agent hereunder; second, to the payment on a pro rata basis of any amounts owing by that Defaulting Lender to the L/C Issuer or Swing Line Lender hereunder; third, if so determined by the
Administrative Agent or requested by the L/C Issuer or Swing Line Lender, to be held as Cash Collateral for future funding obligations of that Defaulting Lender of any participation in any Swing Line Loan, Letter of Credit or Protective Advance;
fourth, as the Borrower Agent may request (so long as no Default or Event of Default exists), to the funding of any Loan in respect of which that Defaulting Lender has failed to fund its portion thereof as required by this Agreement, as
determined by the Administrative Agent; fifth, if so determined by the Administrative Agent and the Borrower Agent, to be held in a non-interest bearing deposit account and released in order to satisfy obligations of that Defaulting
Lender to fund Loans under this Agreement; sixth, to the payment of any amounts owing to the Lenders, the L/C Issuer or Swing Line Lender as a result of any judgment of a court of competent jurisdiction obtained by any Lender, the L/C Issuer
or Swing Line Lender against that Defaulting Lender as a result of that Defaulting Lender’s breach of its obligations under this Agreement; seventh, so long as no Default or Event of Default exists, to the payment of any amounts owing to
the Borrowers as a result of any judgment of a court of competent jurisdiction obtained by the Borrowers against that Defaulting Lender as a result of that Defaulting Lender’s breach of its obligations under this Agreement; and eighth,
to that Defaulting Lender or as otherwise directed by a court of competent jurisdiction; provided that if (x) such payment is a payment of the principal amount of any Loans or L/C Borrowings in respect of which that Defaulting Lender has
not fully funded its appropriate share and (y) such Loans or L/C Borrowings were made at a time when the conditions set forth in Section 5.02 were satisfied or waived, such payment shall be applied solely to pay the Loans of, and
L/C Borrowings owed to, all non-Defaulting Lenders on a pro rata basis prior to being applied to the payment of any Loans of, or L/C Borrowings owed to, that Defaulting Lender. Any payments, prepayments or other amounts paid or payable to a
Defaulting Lender that are applied (or held) to pay amounts owed by a Defaulting Lender or to post Cash Collateral pursuant to this Section 2.18(a)(ii) shall be deemed paid to and redirected by that Defaulting Lender, and each Lender
irrevocably consents hereto. 
 (iii) Certain Fees. That Defaulting Lender (x) shall not be entitled
to receive any commitment fee pursuant to Section 2.10(a) for any period during which that Lender is a Defaulting Lender (and the Borrowers shall not be required to pay any such fee that otherwise would have been required to have been
paid to that Defaulting Lender) and (y) shall be limited in its right to receive Letter of Credit Fees as provided in Section 2.04(h). 
  

 75 

 (iv) Reallocation of Pro Rata Shares to Reduce Fronting Exposure.
During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Protective Advances, Letters of Credit or Swing Line Loans
pursuant to Sections 2.03(h), 2.04 and 2.05, the “Pro Rata Share” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Credit Commitment of that Defaulting Lender; provided,
that, (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default or Event of Default exists; and (ii) the aggregate obligation of each non-Defaulting Lender to
acquire, refinance or fund participations in Protective Advances, Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Credit Commitment of that non-Defaulting Lender minus
(2) the aggregate Outstanding Amount of the Loans of that Lender. 
 (v) Notice to Lenders. The
Administrative Agent shall use reasonable efforts to give the Lenders notice of any Lender becoming a Defaulting Lender. 
 (b)
Defaulting Lender Cure. If the Borrower Agent, the Administrative Agent, Swing Line Lender and the L/C Issuer agree in writing in their sole discretion that a Defaulting Lender should no longer be deemed to be a Defaulting Lender, the
Administrative Agent will so notify the parties hereto, whereupon as of the effective date specified in such notice and subject to any conditions set forth therein (which may include arrangements with respect to any Cash Collateral), that Lender
will, to the extent applicable, purchase that portion of outstanding Loans of the other Lenders or take such other actions as the Administrative Agent may determine to be necessary to cause the Loans and funded and unfunded participations in
Protective Advances, Letters of Credit and Swing Line Loans to be held on a pro rata basis by the Lenders in accordance with their Pro Rata Shares (without giving effect to Section 2.18(a)(iv)), whereupon that Lender will cease to be a
Defaulting Lender; provided that no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of the Borrowers while that Lender was a Defaulting Lender; and provided, further, that except to the extent
otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Lender to Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender’s having been a Defaulting Lender.

 ARTICLE III. 

SECURITY 

3.01 Security. 

(a) Generally. As security for the full and timely payment and performance of all Obligations, the Company shall, and shall cause
each other Borrower to, on or before the Closing Date, do or cause to be done all things necessary in the opinion of the Administrative Agent and its counsel to grant to the Administrative Agent for the benefit of the Secured Parties a duly
perfected first priority security interest in all Collateral subject to no prior Lien or other encumbrance or restriction on transfer, except as expressly permitted hereunder. Without limiting the foregoing, on the Closing Date the Company shall
deliver, and shall cause each other 
  

 76 

 
Borrower to deliver, to the Administrative Agent, reasonably acceptable to the Administrative Agent, (a) the Security Agreement, which shall pledge to the Administrative Agent for the
benefit of the Secured Parties certain personal property of the Borrowers more particularly described therein, and (b) Uniform Commercial Code financing statements in form, substance and number as requested by the Administrative Agent,
reflecting the Lien in favor of the Secured Parties on the Collateral, and shall take such further action and deliver or cause to be delivered such further documents as required by the Security Instruments or otherwise as the Administrative Agent
may request to effect the transactions contemplated by this Article III. 
 3.02 Collateral Administration

 (a) Borrowing Base Certificates. Borrower Agent shall deliver to the Administrative Agent a Borrowing Base
Certificate (a) within 20 days of the end of each Fiscal Month, prepared as of the close of business as of the previous Fiscal Month, (b) during a Dominion Trigger Period, by 5 p.m. (New York City time) by the third Business Day of each
week, as of the prior week end and (c) at any time an Event of Default exists, as frequently as requested by the Administrative Agent; provided that the Borrower Agent shall have three Business Days to deliver any such requested
Borrowing Base Certificate. All calculations of Availability in any Borrowing Base Certificate shall originally be made by Borrower Agent and certified by a Responsible Officer, provided that the Administrative Agent, in its Credit Judgment, may
from time to time review and adjust any such calculation (a) to reflect its reasonable estimate of declines in value of any Collateral, due to collections received in the main Dominion Account or otherwise; (b) to adjust advance rates to
reflect changes in dilution, quality, mix and other factors affecting Collateral; and (c) to the extent the calculation is not made in accordance with this Agreement or does not accurately reflect any Reserve. 

(b) Administration of Accounts. 

(i) Records and Schedules of Accounts. Each Borrower shall keep accurate and complete records in all material
respects of its Accounts, including all payments and collections thereon, and shall submit to the Administrative Agent sales, collection, reconciliation and other reports in form satisfactory to the Administrative Agent in the exercise of its
reasonable discretion within 20 days of any request by the Administrative Agent. Each Borrower shall also provide to the Administrative Agent, on or before the 20th day of each Fiscal Month, a detailed aged trial balance of all Accounts as of the
end of the preceding Fiscal Month, specifying each Account’s Account Debtor name and amount outstanding. If Accounts in an aggregate face amount of $10,000,000 or more cease to be Eligible Accounts, Borrower Agent shall notify the
Administrative Agent of such occurrence promptly (and in any event within one Business Day) after Borrower Agent has knowledge thereof. 

(ii) Taxes. If an Account of any Borrower includes a charge for any Taxes, Administrative Agent is authorized, in
its discretion, to pay the amount thereof to the proper taxing authority for the account of such Borrower and to charge Borrowers therefor; provided, however, that neither the Administrative 

 

 77 

 
Agent nor Lenders shall be liable for any Taxes that may be due from Borrowers or with respect to any Collateral. 

(iii) Account Verification. Whether or not a Default or Event of Default exists, the Administrative Agent shall
have the right at any time, in the name of the Administrative Agent, any designee of the Administrative Agent or (during the continuance of any Event of Default) any Borrower, to verify the validity, amount or any other matter relating to any
Accounts of Borrowers by mail, telephone or otherwise. Borrowers shall cooperate fully with the Administrative Agent in an effort to facilitate and promptly conclude any such verification process. 

(iv) Proceeds of Collateral. Borrowers shall take all necessary steps to ensure that all payments on Accounts or
otherwise relating to Collateral are made directly to any Dominion Account (or a lockbox relating to any Dominion Account). If any Borrower or Subsidiary receives cash or Payment Items with respect to any Collateral, it shall hold same in trust for
the Administrative Agent and promptly deposit same into any Dominion Account. 
 (c) Administration of Inventory.

 (i) Records and Reports of Inventory. Each Borrower shall keep accurate and complete records in all
material respects of its Inventory, which shall include such details as the Administrative Agent may request during a Dominion Trigger Period, and shall submit to the Administrative Agent inventory and reconciliation reports in form
satisfactory to the Administrative Agent in the exercise of its reasonable discretion within 20 days of any request by the Administrative Agent. Each Borrower shall conduct a physical inventory at least once per calendar year (and on a more frequent
basis if requested by the Administrative Agent when an Event of Default exists) and periodic cycle counts consistent with historical practices, and, upon the Administrative Agent’s request, shall provide to the Administrative Agent a report
based on each such inventory and count promptly upon completion thereof, together with such supporting information as the Administrative Agent may request. The Administrative Agent may participate in and observe each physical count. 

(d) Administration of Dominion Account, Deposit Accounts and Securities Accounts. 

(i) The Borrowers shall maintain Dominion Accounts pursuant to lockbox or other arrangements acceptable to the
Administrative Agent. The Borrowers shall obtain an agreement (in form and substance satisfactory to the Administrative Agent in the exercise of its reasonable discretion) from each lockbox servicer and Dominion Account bank, establishing the
Administrative Agent’s control over the lockbox or Dominion Account, which may be exercised by the Administrative Agent during any Dominion Trigger Period, requiring immediate deposit of all remittances received in the lockbox to a Dominion
Account, and waiving offset rights of such servicer or bank, except for customary administrative charges. If a Dominion Account is not maintained with Bank of America, the 

 

 78 

 
Administrative Agent may, during any Dominion Trigger Period, require immediate transfer of all funds in such account to a Dominion Account maintained with Bank of America. The Administrative
Agent and Lenders assume no responsibility to Borrowers for any lockbox arrangement or Dominion Account, including any claim of accord and satisfaction or release with respect to any Payment Items accepted by any bank. 

(ii) Schedule 3.02(d) sets forth all Deposit Accounts and Securities Accounts maintained by Borrowers, including
all Dominion Accounts. Each Borrower shall take all actions necessary to establish the Administrative Agent’s control of each such Deposit Account (other than Excluded Deposit Accounts) and Securities Accounts. Each Borrower shall be the sole
account holder of each Deposit Account and Securities Account and shall not allow any other Person (other than the Administrative Agent) to have control over a Deposit Account or Securities Account or any Property deposited therein. Each Borrower
shall promptly (and in any event within ten Business Days) notify the Administrative Agent of any opening or closing of a Deposit Account or Securities Account and, with the consent of the Administrative Agent (which shall not be unreasonably
withheld), will amend Schedule 3.02(d) to reflect same. 
 3.03 Further Assurances. 

(a) Additional Documents and Instruments. At the request of the Administrative Agent, the Company will or will cause all other
Borrowers, as the case may be, from time to time to execute, by its duly authorized officers, alone or with the Administrative Agent, any certificate, instrument, financing statement, control agreement, statement or document, or to procure any such
certificate, instrument, statement or document, or to take such other action (and pay all connected costs) which the Administrative Agent reasonably deems necessary from time to time to create, continue or preserve the liens and security interests
in Collateral (and the perfection and priority thereof) of the Administrative Agent contemplated hereby and by the other Loan Documents and specifically including all Collateral acquired by the Borrowers after the Closing Date. 

(b) New Subsidiaries. Upon the formation or acquisition of any new direct or indirect Domestic Subsidiary that is a Material
Subsidiary (other than an Unrestricted Subsidiary) by the Company, the Company shall, at the Company’s expense and in accordance with Section 7.12, (i) cause such new Subsidiary it to become a Borrower under this agreement.
Except as otherwise provided in the definitions of “Accounts Formula Amount” and “Inventory Formula Amount”, none of the Accounts or Inventory of any newly formed or acquired Subsidiary (or any Subsidiary newly designated as a
Borrower) shall be included in the calculation of the Borrowing Base until the Administrative Agent has conducted Field Exams and appraisals reasonably required by it with results reasonably satisfactory to the Administrative Agent and the Person
owning such Accounts or Inventory shall be a (directly or indirectly) wholly-owned Subsidiary of the Company and have become a Borrower. 

(c) New Deposit Accounts and Securities Accounts. Concurrently with or prior to the opening of a Deposit Account, Securities
Account or commodity account by any Borrower, other 
  

 79 

 
than any Excluded Deposit Account, such Borrower shall deliver to the Administrative Agent a Deposit Account Control Agreement covering such Deposit Account and/or a control agreement covering
such Securities Account or commodity account, in form and substance reasonably satisfactory to Administrative Agent, duly executed by such Borrower, Administrative Agent and the applicable bank, securities intermediary or commodity intermediary, as
the case may be. 
 (d) Leases. Without limiting the generality of the foregoing subsection (a), prior to entering into
any new lease of real property, the Company shall, and shall cause each Borrower to, use its (and their) best efforts (which shall not require the expenditure of cash or the making of any material concessions under the relevant lease) to deliver to
the Administrative Agent a Lien Waiver, in form and substance reasonably satisfactory to the Administrative Agent, executed by the lessor of any real property that is to be leased by any Borrower for a term in excess of one year in any Landlord Lien
State, to the extent the value of any personal property of the Borrowers held or to be held at such leased property exceeds (or it is anticipated that the value of such personal property will, at any point in time during the term of such leasehold
term, exceed) $10,000,000. 
 (e) UCC Authorization. The Administrative Agent is hereby irrevocably authorized to execute
(if necessary) and file or cause to be filed, with or if permitted by applicable law without the signature of any Borrower appearing thereon, all Uniform Commercial Code financing statements reflecting any Borrower as “debtor” and the
Administrative Agent as “secured party”, and continuations thereof and amendments thereto, as the Administrative Agent reasonably deems necessary or advisable to give effect to the transactions contemplated hereby and by the other Loan
Documents. 
 (f) Mueller International Finance, Inc. Within 90 days of the Closing Date, or such longer period as the
Administrative Agent may otherwise agree in its reasonable discretion, the Company shall cause Mueller International Finance, Inc. to be merged with and into Mueller International, Inc. (with Mueller International, Inc. continuing as the surviving
Person). 
 3.04 Information Regarding Collateral. Each Borrower represents, warrants and covenants that (a) the
chief executive office of the Company and each other Borrower (each, a “Grantor”) at the Closing Date is located at the address or addresses specified on Schedule 3.04, and (b) Schedule 3.04 contains a true and complete
list of (i) the exact legal name, jurisdiction of formation, and address within the United States of each Grantor and of each other Person that has effected any merger or consolidation with a Grantor or contributed or transferred to a Grantor
any property constituting Collateral at any time since January 1, 2006 (excluding Persons making sales in the ordinary course of their businesses to a Grantor of property constituting Inventory in the hands of such seller), (ii) the exact
legal name, jurisdiction of formation, jurisdiction identification number, and each location of the chief executive office of each Grantor at any time since January 1, 2006 and (iii) each location within the United States in which material
goods constituting Collateral are located as of the Closing Date (together with the name of each owner of the property located at such address if not the applicable Grantor, and a summary description of the relationship between the applicable
Grantor and such Person). The Company shall not change, and shall not permit any other Grantor to change, its name, jurisdiction of formation (whether by reincorporation, merger or otherwise), the location of its chief executive office or any
location specified in clause (b)(iii) of the immediately preceding 
  

 80 

 
sentence, or use or permit any other Grantor to use, any additional trade name, trademark or other trade style, except upon giving not less than thirty (30) days’ prior written notice
to the Administrative Agent and taking or causing to be taken all such action at Borrowers’ or such other Grantors’ expense as may be reasonably requested by the Administrative Agent to perfect or maintain the perfection and priority of
the Lien of the Administrative Agent in Collateral. 
 ARTICLE IV. 

TAXES, YIELD PROTECTION AND ILLEGALITY 

4.01 Taxes. 

(a) Payments Free of Taxes; Obligation to Withhold; Payments on Account of Taxes. 

(i) Any and all payments by or on account of any obligation of the Borrowers hereunder or under any other Loan Document
shall to the extent permitted by applicable Laws be made free and clear of and without reduction or withholding for any Taxes. If, however, applicable Laws require the Borrowers or the Administrative Agent to withhold or deduct any Tax, such Tax
shall be withheld or deducted in accordance with such Laws as determined by the Borrower Agent or the Administrative Agent, as the case may be, upon the basis of the information and documentation to be delivered pursuant to subsection
(e) below. 
 (ii) If the Borrowers or the Administrative Agent shall be required by the Code to withhold or
deduct any Taxes, including both United States Federal backup withholding and withholding taxes, from any payment, then (A) the Administrative Agent shall withhold or make such deductions as are determined by the Administrative Agent to be
required based upon the information and documentation it has received pursuant to subsection (e) below, (B) the Administrative Agent shall timely pay the full amount withheld or deducted to the relevant Governmental Authority in accordance
with the Code, and (C) to the extent that the withholding or deduction is made on account of Indemnified Taxes or Other Taxes, the sum payable by the Borrowers shall be increased as necessary so that after any required withholding or the making
of all required deductions (including deductions applicable to additional sums payable under this Section) the Administrative Agent, Lender or L/C Issuer, as the case may be, receives an amount equal to the sum it would have received had no such
withholding or deduction been made. 
 (b) Payment of Other Taxes by the Borrowers. Without limiting the provisions of
subsection (a) above, the Borrowers shall timely pay any Other Taxes to the relevant Governmental Authority in accordance with applicable Law. 

(c) Indemnifications. 

(i) Without limiting the provisions of subsection (a) or (b) above, each Borrower shall, and does hereby,
indemnify the Administrative Agent, each Lender and the L/C Issuer, and shall make payment in respect thereof within 10 days after 

 

 81 

 
demand therefor, for the full amount of any Indemnified Taxes or Other Taxes (including Indemnified Taxes or Other Taxes imposed or asserted on or attributable to amounts payable under this
Section) withheld or deducted by the Borrowers or the Administrative Agent or paid by the Administrative Agent, such Lender or the L/C Issuer, as the case may be, 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 any such payment or liability delivered to the Borrower Agent by a
Lender or the L/C Issuer (with a copy to the Administrative Agent), or by the Administrative Agent on its own behalf or on behalf of a Lender or the L/C Issuer, shall be conclusive absent manifest error. 

(ii) Without limiting the provisions of subsection (a) or (b) above, each Lender and the L/C Issuer shall, and
does hereby, indemnify the Borrowers and the Administrative Agent, and shall make payment in respect thereof within 10 days after demand therefor, against any and all Taxes and any and all related losses, claims, liabilities, penalties, interest and
expenses (including the fees, charges and disbursements of any counsel for the Borrowers or the Administrative Agent) incurred by or asserted against the Borrowers or the Administrative Agent by any Governmental Authority as a result of the failure
by such Lender or the L/C Issuer, as the case may be, to deliver, or as a result of the inaccuracy, inadequacy or deficiency of, any documentation required to be delivered by such Lender or the L/C Issuer, as the case may be, to the Borrower Agent
or the Administrative Agent pursuant to subsection (e). Each Lender and the L/C Issuer hereby authorizes the Administrative Agent to set off and apply any and all amounts at any time owing to such Lender or the L/C Issuer, as the case may be, under
this Agreement or any other Loan Document against any amount due to the Administrative Agent under this clause (ii). The agreements in this clause (ii) shall survive the resignation and/or replacement of the Administrative Agent, any assignment
of rights by, or the replacement of, a Lender or the L/C Issuer, the termination of the Aggregate Commitments and the repayment, satisfaction or discharge of all other Obligations. 

(d) Evidence of Payments. Upon request by the Borrower Agent or the Administrative Agent, as the case may be, after any payment of
Taxes by the Borrowers or by the Administrative Agent to a Governmental Authority as provided in this Section 4.01, the Borrower Agent shall deliver to the Administrative Agent or the Administrative Agent shall deliver to the Borrower
Agent, as the case may be, the original or a certified copy of a receipt issued by such Governmental Authority evidencing such payment, a copy of any return required by Laws to report such payment or other evidence of such payment reasonably
satisfactory to the Borrower Agent or the Administrative Agent, as the case may be. 
 (e) Status of Lenders; Tax
Documentation. 
 (i) Each Lender shall deliver to the Borrower Agent and to the Administrative Agent, at the
time or times prescribed by applicable Laws or when reasonably requested by the Borrower Agent or the Administrative Agent, such properly completed and executed documentation prescribed by applicable Laws or

  

 82 

 
by the taxing authorities of any jurisdiction (including any documentation necessary to prevent withholding under Sections 1471 through Section 1474 of the Code) and such other reasonably
requested information as will permit the Borrower Agent or the Administrative Agent, as the case may be, to determine (A) whether or not payments made hereunder or under any other Loan Document are subject to Taxes, (B) if applicable, the
required rate of withholding or deduction, and (C) such Lender’s entitlement to any available exemption from, or reduction of, applicable Taxes in respect of all payments to be made to such Lender by the Borrowers pursuant to this
Agreement or otherwise to establish such Lender’s status for withholding tax purposes in the applicable jurisdiction. 

(ii) Without limiting the generality of the foregoing, if a Borrower is resident for tax purposes in the United States,

 (A) any Lender that is a “United States person” within the meaning of Section 7701(a)(30) of
the Code shall deliver to the Borrower Agent and the Administrative Agent executed originals of Internal Revenue Service Form W-9 or such other documentation or information prescribed by applicable Laws or reasonably requested by the Borrower Agent
or the Administrative Agent as will enable the Borrower Agent or the Administrative Agent, as the case may be, to determine whether or not such Lender is subject to backup withholding or information reporting requirements; and 

(B) each Foreign Lender that is entitled under the Code or any applicable treaty to an exemption from or reduction of
withholding tax with respect to payments hereunder or under any other Loan Document shall deliver to the Borrower Agent and the Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which
such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter upon the request of the Borrower Agent or the Administrative Agent, but only if such Foreign Lender is legally entitled to do so), whichever of the following
is applicable: 
 (I) executed originals of Internal Revenue Service Form W-8BEN claiming eligibility for
benefits of an income tax treaty to which the United States is a party, 
 (II) executed originals of Internal
Revenue Service Form W-8ECI, 
 (III) executed originals of Internal Revenue Service Form W-8IMY and all
required supporting documentation, 
 (IV) in the case of a Foreign Lender claiming the benefits of the
exemption for portfolio interest under section 881(c) of the Code, (x) a certificate 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

  

 83 

 
shareholder” of any 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) executed originals of Internal Revenue Service Form W-8BEN, or 
 (V) executed originals of any
other form prescribed by applicable Laws as a basis for claiming exemption from or a reduction in United States Federal withholding tax together with such supplementary documentation as may be prescribed by applicable Laws to permit the Borrower
Agent or the Administrative Agent to determine the withholding or deduction required to be made. 
 (iii) Each
Lender shall promptly (A) notify the Borrower Agent and the Administrative Agent of any change in circumstances which would modify or render invalid any claimed exemption or reduction, and (B) take such steps as shall not be materially
disadvantageous to it, in the reasonable judgment of such Lender, and as may be reasonably necessary (including the re-designation of its Lending Office) to avoid any requirement of applicable Laws of any jurisdiction that the Borrowers or the
Administrative Agent make any withholding or deduction for taxes from amounts payable to such Lender. 
 (f) Treatment of
Certain Refunds. If the Administrative Agent, any Lender or the L/C Issuer determines, in its sole discretion, that it has received a refund of any Taxes or Other Taxes as to which it has been indemnified by any Borrower or with respect to which
any Borrower has paid additional amounts pursuant to this Section, it shall pay to such Borrower an amount equal to such refund (but only to the extent of indemnity payments made, or additional amounts paid, by any Borrower under this Section with
respect to the Taxes or Other Taxes giving rise to such refund), net of all out-of-pocket expenses incurred by the Administrative Agent, such Lender or the L/C Issuer, as the case may be, and without interest (other than any interest paid by the
relevant Governmental Authority with respect to such refund), provided that each Borrower, upon the request of the Administrative Agent, such Lender or the L/C Issuer, agrees to repay the amount paid over to any Borrower (plus any penalties,
interest or other charges imposed by the relevant Governmental Authority) to the Administrative Agent, such Lender or the L/C Issuer in the event the Administrative Agent, such Lender or the L/C Issuer is required to repay such refund to such
Governmental Authority. This subsection shall not be construed to require the Administrative Agent, any Lender or the L/C Issuer to make available its tax returns (or any other information relating to its taxes that it deems confidential) to any
Borrower or any other Person. 
 4.02 Illegality. If any Lender determines that any Law has made it unlawful, or that any
Governmental Authority has asserted that it is unlawful, for any Lender or its applicable Lending Office to make, maintain or fund Loans whose interest is determined by reference to the Eurocurrency Rate, or to determine or charge interest rates
based upon the Eurocurrency Rate, or any Governmental Authority has imposed material restrictions on the authority of such Lender to purchase or sell, or to take deposits of, Dollars in the London interbank market, then, on notice thereof by such
Lender to the Borrower Agent through the Administrative Agent, (i) any obligation of such Lender to make or continue Eurocurrency Rate Loans or to convert Base Rate 

 

 84 

 
Loans to Eurocurrency Rate Loans shall be suspended, and (ii) if such notice asserts the illegality of such Lender making or maintaining Base Rate Loans the interest rate on which is
determined by reference to the Eurocurrency Rate component of the Base Rate, the interest rate on which Base Rate Loans of such Lender shall, if necessary to avoid such illegality, be determined by the Administrative Agent without reference to the
Eurocurrency Rate component of the Base Rate, in each case until such Lender notifies the Administrative Agent and the Borrower Agent that the circumstances giving rise to such determination no longer exist. Upon receipt of such notice, (x) the
Borrowers shall, upon demand from such Lender (with a copy to the Administrative Agent), prepay or, if applicable, convert all Eurocurrency Rate Loans of such Lender to Base Rate Loans (the interest rate on which Base Rate Loans of such Lender
shall, if necessary to avoid such illegality, be determined by the Administrative Agent without reference to the Eurocurrency Rate component of the Base Rate), either on the last day of the Interest Period therefor, if such Lender may lawfully
continue to maintain such Eurocurrency Rate Loans to such day, or immediately, if such Lender may not lawfully continue to maintain such Eurocurrency Rate Loans and (y) if such notice asserts the illegality of such Lender determining or
charging interest rates based upon the Eurocurrency Rate, the Administrative Agent shall during the period of such suspension compute the Base Rate applicable to such Lender without reference to the Eurocurrency Rate component thereof until the
Administrative Agent is advised in writing by such Lender that it is no longer illegal for such Lender to determine or charge interest rates based upon the Eurocurrency Rate. Upon any such prepayment or conversion, the Borrowers shall also pay
accrued interest on the amount so prepaid or converted. 
 4.03 Inability to Determine Rates. If the Required Lenders
determine that for any reason in connection with any request for a Eurocurrency Rate Loan or a conversion to or continuation thereof that (a) Dollar deposits are not being offered to banks in the London interbank eurodollar market for the
applicable amount and Interest Period of such Eurocurrency Rate Loan, (b) adequate and reasonable means do not exist for determining the Eurocurrency Rate for any requested Interest Period with respect to a proposed Eurocurrency Rate Loan or in
connection with an existing or proposed Base Rate Loan, or (c) the Eurocurrency Rate for any requested Interest Period with respect to a proposed Eurocurrency Rate Loan does not adequately and fairly reflect the cost to such Lenders of funding
such Loan, the Administrative Agent will promptly so notify the Borrower Agent and each Lender. Thereafter, (x) the obligation of the Lenders to make or maintain Eurocurrency Rate Loans shall be suspended, and (y) in the event of a
determination described in the preceding sentence with respect to the Eurocurrency Rate component of the Base Rate, the utilization of the Eurocurrency Rate component in determining the Base Rate shall be suspended, in each case until the
Administrative Agent (upon the instruction of the Required Lenders) revokes such notice. Upon receipt of such notice, the Borrower Agent may revoke any pending request for a Borrowing of, conversion to or continuation of Eurocurrency Rate Loans or,
failing that, will be deemed to have converted such request into a request for a Borrowing of Base Rate Loans in the amount specified therein. 

4.04 Increased Costs; Reserves on Eurocurrency Rate Loans. 

(a) Increased Costs Generally. If any Change in Law shall: 

(i) impose, modify or deem applicable any reserve, special deposit, compulsory loan, insurance charge or similar
requirement against assets of, deposits 
  

 85 

 
with or for the account of, or credit extended or participated in by, any Lender (except any reserve requirement contemplated by Section 4.04(e)) or the L/C Issuer ; 

(ii) subject any Lender or the L/C Issuer to any tax of any kind whatsoever with respect to this Agreement, any Letter of
Credit, any participation in a Letter of Credit, or any Eurocurrency Rate Loan made by it, or change the basis of taxation of payments to such Lender or the L/C Issuer in respect thereof (except for Indemnified Taxes or Other Taxes covered by
Section 4.01 and the imposition of, or any change in the rate of, any Excluded Tax payable by such Lender or the L/C Issuer); or 

(iii) impose on any Lender or the L/C Issuer or the London interbank market any other condition, cost or expense affecting
this Agreement or Eurocurrency Rate Loans made by such Lender or any Letter of Credit or participation therein; 
 and the result of any of the
foregoing shall be to increase the cost to such Lender of making or maintaining any Loan the interest on which is determined by reference to the Eurocurrency Rate (or of maintaining its obligation to make any such Loan), or to increase the cost to
such Lender or the L/C Issuer of participating in, issuing or maintaining any Letter of Credit (or of maintaining its obligation to participate in or to issue any Letter of Credit), or to reduce the amount of any sum received or receivable by such
Lender or the L/C Issuer hereunder (whether of principal, interest or any other amount) then, upon request of such Lender or the L/C Issuer, the Borrowers will pay to such Lender or the L/C Issuer, as the case may be, such additional amount or
amounts as will compensate such Lender or the L/C Issuer, as the case may be, for such additional costs incurred or reduction suffered. 

(b) Capital Requirements. If any Lender or the L/C Issuer determines that any Change in Law affecting such Lender or the L/C
Issuer or any Lending Office of such Lender or such Lender’s or the L/C Issuer’s holding company, if any, regarding capital requirements has or would have the effect of reducing the rate of return on such Lender’s or the L/C
Issuer’s capital or on the capital of such Lender’s or the L/C Issuer’s holding company, if any, as a consequence of this Agreement, the Revolving Credit Commitments of such Lender or the Loans made by, or participations in Letters of
Credit held by, such Lender, or the Letters of Credit issued by the L/C Issuer, to a level below that which such Lender or the L/C Issuer or such Lender’s or the L/C Issuer’s holding company could have achieved but for such Change in Law
(taking into consideration such Lender’s or the L/C Issuer’s policies and the policies of such Lender’s or the L/C Issuer’s holding company with respect to capital adequacy), then from time to time pursuant to subsection
(c) below the Borrowers will pay to such Lender or the L/C Issuer, as the case may be, such additional amount or amounts as will compensate such Lender or the L/C Issuer or such Lender’s or the L/C Issuer’s holding company for any
such reduction suffered. 
 (c) Certificates for Reimbursement. A certificate of a Lender or the L/C Issuer setting forth
the amount or amounts necessary to compensate such Lender or the L/C Issuer or its holding company, as the case may be, as specified in subsection (a) or (b) of this Section and delivered to the Borrower Agent shall be conclusive absent
manifest error. The Borrowers shall 
  

 86 

 
pay such Lender or the L/C Issuer, as the case may be, the amount shown as due on any such certificate within 10 Business Days after receipt thereof. 

(d) Delay in Requests. Failure or delay on the part of any Lender or the L/C Issuer to demand compensation pursuant to the
foregoing provisions of this Section shall not constitute a waiver of such Lender’s or the L/C Issuer’s right to demand such compensation, provided that the Borrowers shall not be required to compensate a Lender or the L/C Issuer
pursuant to the foregoing provisions of this Section for any increased costs incurred or reductions suffered more than six months prior to the date that such Lender or the L/C Issuer, as the case may be, notifies the Borrowers of the Change in Law
giving rise to such increased costs or reductions and of such Lender’s or the L/C Issuer’s intention to claim compensation therefor (except that, if the Change in Law giving rise to such increased costs or reductions is retroactive, then
the six-month period referred to above shall be extended to include the period of retroactive effect thereof). 
 (e)
Reserves on Eurocurrency Rate Loans. The Borrowers shall pay to each Lender, as long as such Lender shall be required to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits
(currently known as “Eurocurrency liabilities”), additional interest on the unpaid principal amount of each Eurocurrency Rate Loan equal to the actual costs of such reserves allocated to such Loan by such Lender (as
determined by such Lender in good faith, which determination shall be conclusive), which shall be due and payable on each date on which interest is payable on such Loan, provided the Borrower Agent shall have received at least 10 days’
prior notice (with a copy to the Administrative Agent) of such additional interest from such Lender. If a Lender fails to give notice 10 days prior to the relevant Interest Payment Date, such additional interest shall be due and payable 10 days from
receipt of such notice. 
 4.05 Compensation for Losses. Upon demand of any Lender (with a copy to the Administrative
Agent) from time to time, the Borrowers shall promptly compensate such Lender for and hold such Lender harmless from any loss, cost or expense incurred by it as a result of: 

(a) any continuation, conversion, payment or prepayment of any Loan other than a Base Rate Loan on a day other than the last day of the
Interest Period for such Loan (whether voluntary, mandatory, automatic, by reason of acceleration, or otherwise); 
 (b) any
failure by the Borrowers (for a reason other than the failure of such Lender to make a Loan) to prepay, borrow, continue or convert any Loan other than a Base Rate Loan on the date or in the amount notified by the Borrower Agent; or 

(c) any failure by any Borrower to make payment of any drawing under any Letter of Credit denominated in an Alternative Currency on its
scheduled due date or any payment thereof in a different currency; or 
 (d) any assignment of a Eurocurrency Rate Loan on a day
other than the last day of the Interest Period therefor as a result of a request by the Borrower Agent pursuant to Section 11.13; 

including any loss or expense arising from the liquidation or reemployment of funds obtained by it to maintain such Loan or from fees payable to
terminate the deposits from which such funds 
  

 87 

 
were obtained. The Borrowers shall also pay any customary administrative fees charged by such Lender in connection with the foregoing. 

For purposes of calculating amounts payable by the Borrowers to the Lenders under this Section 4.05, each Lender shall be
deemed to have funded each Eurocurrency Rate Loan made by it at the Eurocurrency Rate for such Loan by a matching deposit or other borrowing in the London interbank eurodollar market for a comparable amount and for a comparable period, whether or
not such Eurocurrency Rate Loan was in fact so funded. 
 4.06 Mitigation Obligations; Replacement of Lenders. 

 (a) Designation of a Different Lending Office. If any Lender requests compensation under Section 4.04, or
the Borrowers are required to pay any additional amount to any Lender, the L/C Issuer or any Governmental Authority for the account of any Lender or the L/C Issuer pursuant to Section 4.01, or if any Lender gives a notice pursuant to
Section 4.02, then such Lender or the L/C Issuer, as applicable, shall use reasonable efforts to designate a different Lending Office for funding or booking its Loans hereunder or to assign its rights and obligations hereunder to another
of its offices, branches or affiliates, if, in the judgment of such Lender or the L/C Issuer, such designation or assignment (i) would eliminate or reduce amounts payable pursuant to Section 4.01 or 4.04, as the case may be,
in the future, or eliminate the need for the notice pursuant to Section 4.02, as applicable, and (ii) in each case, would not subject such Lender or the L/C Issuer, as the case may be, to any unreimbursed cost or expense and would
not otherwise be disadvantageous to such Lender or the L/C Issuer, as the case may be. The Borrowers hereby agree to pay all reasonable costs and expenses incurred by any Lender or the L/C Issuer in connection with any such designation or
assignment. 
 (b) Replacement of Lenders. If any Lender requests compensation under Section 4.04, or if the
Borrowers are required to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 4.01, the Borrowers may replace such Lender in accordance with Section 11.13.

 4.07 Survival. All of the Borrowers’ obligations under this Article IV shall survive termination of the
Aggregate Commitments and repayment of all other Obligations hereunder, and resignation of the Administrative Agent. 

ARTICLE V. 

CONDITIONS PRECEDENT TO CREDIT EXTENSIONS 

5.01 Conditions of Initial Credit Extension. The obligation of the L/C Issuer and each Lender to make its initial Credit Extension
hereunder is subject to satisfaction of the following conditions precedent: 
 (a) The Administrative Agent’s receipt of
the following, each of which shall be originals or facsimiles (followed promptly by originals) unless otherwise specified, each properly executed by a Responsible Officer of the signing Borrower, each dated the Closing Date (or, in

  

 88 

 
the case of certificates of governmental officials, a recent date before the Closing Date) and each in form and substance satisfactory to the Administrative Agent and its legal counsel:

 (i) executed counterparts of this Agreement and each of the Security Instruments; 

(ii) Revolving Loan Notes executed by the Borrowers in favor of each Revolving Lender requesting such a Revolving Loan
Note; 
 (iii) such certificates of resolutions or other action, incumbency certificates (including specimen
signatures), and/or other certificates of Responsible Officers of each Borrower as the Administrative Agent may require evidencing the identity, authority and capacity of each Responsible Officer thereof authorized to act as a Responsible Officer in
connection with this Agreement and the other Loan Documents to which such Borrower is a party; 
 (iv) such
documents and certifications as the Administrative Agent may reasonably require to evidence that each Borrower is duly organized or formed, and that each Borrower is validly existing, in good standing and qualified to engage in business in its
jurisdiction of organization and in any other jurisdiction in which the failure to be so qualified could reasonably be expected to have a Material Adverse Effect, including certified copies of each Borrower’s Organization Documents,
stockholders’ agreements, certificates of good standing and/or qualification to engage in business from each jurisdiction identified on Schedule 5.01 hereto; 

(v) a favorable opinion of Simpson Thacher & Bartlett LLP, counsel to the Borrowers, and appropriate local
counsel to the Borrowers, each addressed to the Administrative Agent and each Lender, as to the matters concerning the Borrowers and the Loan Documents as the Administrative Agent or the Required Lenders may reasonably request; 

(vi) certificates of Responsible Officers of the Company or the applicable Borrowers either (A) identifying all
consents, licenses and approvals required in connection with the execution, delivery and performance by each Borrower and the validity against each such Borrower of the Loan Documents to which it is a party, and stating that such consents, licenses
and approvals shall be in full force and effect, and attaching true and correct copies thereof or (B) stating that no such consents, licenses or approvals are so required; 

(vii) a certificate signed by a Responsible Officer of the Borrower Agent certifying (A) that the conditions
specified in Sections 5.02(a) and (b) have been satisfied and (B) as to the matters described in Section 5.01(d); 

(viii) evidence satisfactory to the Administrative Agent of the consummation, prior to or substantially simultaneously
with the occurrence of the Closing Date, of the issuance of the Senior Notes in accordance with the terms of the Senior Notes Indenture and receipt of the net proceeds thereof by the Company in compliance with all applicable laws and regulations,
with the receipt of all 
  

 89 

 
necessary material governmental, stockholder and third party consents and approvals; 

(ix)(i) audited financial statements of Company and its Subsidiaries for each of the three fiscal years immediately
preceding the Closing Date and (ii) unaudited interim financial statements for Company and its Subsidiaries as of June 30, 2010. 

(x) a certificate signed by any financial officer of the Company that is a Responsible Officer certifying that, after
giving effect to the entering into of the Loan Documents and the consummation of all of the Transactions on or prior to the Closing Date, the Company and Subsidiaries, measured on a consolidated basis, are Solvent; 

(xi) evidence that all insurance required to be maintained pursuant to the Loan Documents has been obtained and is in
effect; 
 (xii) an initial Borrowing Base Certificate which calculates the Borrowing Base as of the Fiscal Month
ended July 2010 and an initial Revolving Loan Notice; 
 (xiii) delivery of Uniform Commercial Code financing
statements, suitable in form and substance for filing in all places required by applicable law to perfect the Liens of the Administrative Agent under the Security Instruments as a first priority Lien as to items of Collateral in which a security
interest may be perfected by the filing of financing statements, and such other documents and/or evidence of other actions as may be reasonably necessary under applicable law to perfect the Liens of the Administrative Agent under such Security
Instruments as a first priority Lien in and to such other Collateral as the Administrative Agent may require; 

(xiv) Uniform Commercial Code search results showing only those Liens as are acceptable to the Lenders; and 

(xv) such other assurances, certificates, documents, consents or opinions as the Administrative Agent, the L/C Issuer, the
Swing Line Lender or the Required Lenders may reasonably require. 
 (b) Any fees required to be paid on or before the Closing
Date shall have been paid. 
 (c) Unless waived by the Administrative Agent, the Borrowers shall have paid all reasonable fees,
charges and disbursements of counsel to the Administrative Agent to the extent invoiced prior to or on the Closing Date, plus such additional amounts of such reasonable fees, charges and disbursements as shall constitute its reasonable estimate of
such reasonable fees, charges and disbursements incurred or to be incurred by it through the closing proceedings (provided that such estimate shall not thereafter preclude a final settling of accounts between the Borrowers and the Administrative
Agent). 
  

 90 

 (d) The Administrative Agent shall be satisfied that after giving effect to (i) the
initial Credit Extension hereunder, (ii) consummation of the Transactions and (iii) any payables stretched beyond their customary payment practices, Availability shall be at least $125,000,000. 

Without limiting the generality of the provisions of Section 10.04, for purposes of determining compliance with the
conditions specified in this Section 5.01, each Lender that has signed this Agreement shall be deemed to have consented to, approved or accepted or to be satisfied with, each document or other matter required thereunder to be consented
to or approved by or acceptable or satisfactory to a Lender unless the Administrative Agent shall have received notice from such Lender prior to the proposed Closing Date specifying its objection thereto. 

5.02 Conditions to all Credit Extensions. The obligation of each Lender to honor any Request for Credit Extension (other than a
Revolving Loan Notice requesting only a conversion of Revolving Loans to the other Type or a continuation of Eurocurrency Rate Loans) or make the initial Credit Extension hereunder is subject to the following conditions precedent: 

(a) The representations and warranties of the Company and each other Borrower contained in Article VI or any other Loan Document,
or which are contained in any document furnished at any time under or in connection herewith or therewith, shall be true and correct on and as of the date of such Credit Extension, except to the extent that such representations and warranties
specifically refer to an earlier date, in which case they shall be true and correct as of such earlier date, and except that for purposes of this Section 5.02(a), the representations and warranties contained in subsections (a) and
(b) of Section 6.05 shall be deemed to refer to the most recent statements furnished pursuant to clauses (a) and (b), respectively, of Section 7.01. 

(b) No Default or Event of Default shall have occurred and be continuing, or would result from such proposed Credit Extension or from the
application of the proceeds thereof. 
 (c) The Administrative Agent and, if applicable, the L/C Issuer or the Swing Line Lender
shall have received a Request for Credit Extension in accordance with the requirements hereof. 
 (d) No limitation exists on
any Borrowing or Credit Extension contained in Article II. 
 (e) Subject to Section 2.03(g) and (h), after giving effect
to each Credit Extension Total Outstandings do not exceed the Loan Cap (excluding any applicable LC Reserve). 
 (f) In the case
of an L/C Credit Extension to be denominated in an Alternative Currency, there shall not have occurred any change in national or international financial, political or economic conditions or currency exchange rates or exchange controls which in the
reasonable opinion of the Administrative Agent or the L/C Issuer would make it impracticable for such L/C Credit Extension to be denominated in the relevant Alternative Currency. 

Each Request for Credit Extension (other than a Revolving Loan Notice requesting only a conversion of Revolving Loans to the other Type
or a continuation of Eurocurrency Rate Loans) submitted by the Borrower Agent shall be deemed to be a representation and warranty that the conditions specified in Sections 5.02(a) and (b) have been satisfied on and as of the date
of the applicable Credit Extension. 
  

 91 

 ARTICLE VI. 

REPRESENTATIONS AND WARRANTIES 

Each Borrower represents and warrants to the Administrative Agent and the Lenders, subject to the limitation set forth in
Section 5.02(a), that: 
 6.01 Existence, Qualification and Power; Compliance with Laws. Each Borrower
(a) is a corporation, partnership or limited liability company duly organized or formed, validly existing and in good standing under the Laws of the jurisdiction of its incorporation, organization or formation, (b) has all requisite power
and authority and all requisite governmental licenses, authorizations, consents and approvals to (i) own or lease its assets and carry on its business as is now being conducted and (ii) execute, deliver and perform its obligations under
the Loan Documents to which it is a party and to consummate the Transactions to which it is a party, (c) is duly qualified and is licensed and in good standing under the Laws of each jurisdiction where its ownership, lease or operation of
properties or the conduct of its business requires such qualification or license, and (d) is in compliance with all Laws; except in each case referred to in clause (b)(i), (c) or (d), to the extent that failure to do so could not
reasonably be expected to have a Material Adverse Effect. 
 6.02 Authorization; No Contravention. The execution,
delivery and performance by each Borrower of each Loan Document to which such Person is party, and the consummation of the Transactions to which it is a party, have been duly authorized by all necessary corporate or other organizational action, and
do not and will not (a) contravene the terms of the Organization Documents of any such Person; (b) conflict with or result in any breach or contravention of, or the creation of any Lien under (i) any Contractual Obligation to which
such Person is a party or (ii) any order, injunction, writ or decree of any Governmental Authority or any arbitral award to which such Person or its property is subject; or (c) violate any Law. 

6.03 Governmental Authorization; Other Consents. No approval, consent, exemption, authorization, or other action by, or notice to,
or filing with, any Governmental Authority or any other Person is necessary or required in connection with the execution, delivery or performance by, or enforcement against, any Borrower of this Agreement or any other Loan Document or the
consummation of the Transactions to which it is a party. 
 6.04 Binding Effect. This Agreement has been, and each other
Loan Document, when delivered hereunder, will have been, duly executed and delivered by each Borrower that is party thereto. This Agreement constitutes, and each other Loan Document when so delivered will constitute, a legal, valid and binding
obligation of such Borrower, enforceable against each Borrower that is party thereto in accordance with its terms, except (a) as rights to indemnification hereunder may be limited by applicable Law and (b) as the enforcement hereof
may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar Laws relating to or affecting the rights and remedies of creditors or by general equitable principles. 

6.05 Financial Statements; No Material Adverse Effect. 

(a) The Audited Financial Statements (i) were prepared in accordance with GAAP consistently applied throughout the period covered
thereby, except as otherwise expressly noted 
  

 92 

 
therein; (ii) fairly present the financial condition of the Company and its Subsidiaries as of the date thereof and their results of operations for the period covered thereby in accordance
with GAAP consistently applied throughout the period covered thereby, except as otherwise expressly noted therein; (iii) show all material indebtedness and other liabilities, direct or contingent, of the Company and its Subsidiaries as of the
date thereof, including liabilities for taxes, material commitments and Indebtedness. 
 (b) The unaudited consolidated balance
sheet of the Company and its Subsidiaries dated as of June 30, 2010, and the related consolidated statements of income or operations, stockholders’ equity and cash flows for the fiscal quarter then ended and/or nine months then ended
(i) were prepared in accordance with GAAP consistently applied throughout the period covered thereby, except as otherwise expressly noted therein, and (ii) fairly present the financial condition of the Company and its Subsidiaries as of
the date thereof and their results of operations for the period covered thereby, subject, in the case of clauses (i) and (ii), to the absence of footnotes and to normal year-end audit adjustments. 

(c) Since the date of the Audited Financial Statements there has been no event or circumstance, either individually or in the aggregate,
that has had or could reasonably be expected to have a Material Adverse Effect. 
 (d) The Company and its Subsidiaries,
on a consolidated basis, have no material indebtedness or other liabilities, direct or contingent, including liabilities for taxes, material commitments and Indebtedness, except to the extent (i) set forth in the most recent of (A) the
Audited Financial Statements and (B) the financial statements most recently delivered pursuant to Section 7.01(a) or (b), (ii) set forth on Schedule 8.03, or (iii) incurred since the date referred to in
subsection (i) hereof in accordance with the terms of this Agreement and the other Loan Documents. 
 (e) As of the
Closing Date, the Company and the other Borrowers, on a consolidated basis, are Solvent. 
 6.06 Litigation. There are no
actions, suits, proceedings, claims or disputes pending or, to the knowledge of any Borrower after due investigation, threatened or contemplated, at law, in equity, in arbitration or before any Governmental Authority, by or against any Borrower or
any of its Subsidiaries or against any of their properties or net sales that (a) purport to affect or pertain to this Agreement or any other Loan Document or any of the Transactions or (b) except as specifically disclosed in Schedule
6.06, either individually or in the aggregate, if determined adversely, could reasonably be expected to have a Material Adverse Effect, and there has been no adverse change in the status, or financial effect on any Borrower or any Subsidiary
thereof, of the matters described on Schedule 6.06 which could reasonably be expected to have a Material Adverse Effect. 

6.07 No Default. No Borrower nor any Subsidiary is in default under or with respect to any Contractual Obligation that could,
either individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. No Default has occurred and is continuing or would result from the consummation of the transactions contemplated by this Agreement or any other Loan
Document. 
  

 93 

 6.08 Ownership of Property; Liens. Each Borrower and each of its Subsidiaries has
good record and marketable title in fee simple to, or valid leasehold interests in, all real property necessary or used in the ordinary conduct of its business, except for such defects in title as could not, individually or in the aggregate,
reasonably be expected to have a Material Adverse Effect. The property of each Borrower and its Subsidiaries is subject to no Liens, other than Liens permitted by Section 8.01. 

6.09 Environmental Compliance. Each Borrower conducts in the Ordinary Course of Business a review of the effect of existing
Environmental Laws and claims alleging potential liability or responsibility for violation of any Environmental Law on their respective businesses, operations and properties, and as a result thereof each Borrower has reasonably concluded that,
except as set forth on Schedule 6.09, such Environmental Laws and claims could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

6.10 Insurance. The properties of each Borrower and its Subsidiaries are insured with financially sound and reputable insurance
companies in such amounts, with such deductibles and covering such risks as are customarily carried by companies engaged in similar businesses and owning similar properties in localities where the Company or the applicable Subsidiary operates, none
of which insurance shall be provided by any Subsidiary or any other Affiliate of the Borrowers. 
 6.11 Taxes. The
Company and its Subsidiaries have filed all material Federal, state and other tax returns and reports required to be filed, except where the failure to file such returns or reports could not, individually or in the aggregate, reasonably be expected
to have a Material Adverse Effect and have paid all material Federal, state and other taxes, assessments, fees and other governmental charges levied or imposed upon them or their properties, income or assets otherwise due and payable, except those
which are being Properly Contested. Except as specifically described on Schedule 6.11 hereto, there is no proposed tax assessment against the Company or any Subsidiary that would, if made, have a Material Adverse Effect. Neither the Company
nor any Subsidiary thereof is party to any tax sharing agreement other than the Tax Sharing Agreement. 
 6.12 ERISA
Compliance. 
 (a) Each Plan is in compliance in all material respects with the applicable provisions of ERISA, the Code and
other Federal or state Laws. Each Pension Plan that is intended to be a qualified plan under Section 401(a) of the Code has received a favorable determination letter from the Internal Revenue Service to the effect that the form of such Plan is
qualified under Section 401(a) of the Code and the trust related thereto has been determined by the Internal Revenue Service to be exempt from federal income tax under Section 501(a) of the Code, or an application for such a letter is
currently being processed by the Internal Revenue Service. To the best knowledge of the Company, nothing has occurred that would prevent or cause the loss of such tax-qualified status. 

(b) There are no pending or, to the best knowledge of the Company, threatened claims, actions or lawsuits, or action by any Governmental
Authority, with respect to any Plan that could reasonably be expected to have a Material Adverse Effect. Neither the Company nor 

 

 94 

 
any ERISA Affiliate has engaged in a non-exempt prohibited transaction or violation of the fiduciary responsibility rules described in section 4975 of the Code or Part 4 of Title I of ERISA with
respect to any Plan that has resulted or could reasonably be expected to result in a Material Adverse Effect. 
 (c)(i) No ERISA
Event has occurred for which any liability remains unsatisfied, and neither the Company nor any ERISA Affiliate is aware of any fact, event or circumstance that could reasonably be expected to constitute or result in an ERISA Event with respect to
any Pension Plan; (ii) the Company and each ERISA Affiliate has met all applicable requirements under the Pension Funding Rules in respect of each Pension Plan, and no waiver of the minimum funding standards under the Pension Funding Rules has
been applied for or obtained; (iii) as of the most recent valuation date for any Pension Plan, the funding target attainment percentage (as defined in Section 430(d)(2) of the Code) is 60% or higher and neither the Company nor any ERISA
Affiliate knows of any facts or circumstances that could reasonably be expected to cause the funding target attainment percentage for any such plan to drop below 60% as of the most recent valuation date; (iv) neither the Company nor any ERISA
Affiliate has incurred any liability to the PBGC other than for the payment of premiums, and there are no premium payments which have become due that are unpaid; (v) to the knowledge of the Borrowers, neither the Company nor any ERISA Affiliate
has engaged in a transaction that could be subject to Section 4069 or Section 4212(c) of ERISA; and (vi) no Pension Plan has been terminated by the plan administrator thereof nor by the PBGC, and no event or circumstance has occurred
or exists that could reasonably be expected to cause the PBGC to institute proceedings under Title IV of ERISA to terminate any Pension Plan. 

(d) Neither the Company nor any ERISA Affiliate maintains or contributes to, or has any unsatisfied obligation to contribute to, or
liability under, any terminated Pension Plan. 
 (e) Each Foreign Pension Plan governed by any Foreign Benefit Law is
(i) funded to at least the minimum level required by law or, if higher, to the level required by the terms governing the Plan, (ii) provided for or recognized in the financial statements most recently delivered to the Administrative Agent
or (iii) estimated in the formal notes to the financial statements most recently delivered to the Administrative Agent; provided, that the failure to so fund, provide for, recognize or estimate the liabilities arising under such Plan shall not
be deemed to be a breach of this representation unless such failure could reasonably be expected to have a Material Adverse Effect. 

6.13 Subsidiaries; Equity Interests. No Borrower (a) has any Subsidiaries other than those specifically disclosed in
Schedule 6.13(a) or created or acquired in compliance with Section 7.12, and (b) has any equity investments in any other corporation or entity other than those specifically disclosed Schedule 6.13(b) or made after the
Closing Date in compliance with this Agreement and the other Loan Documents. 
  

 95 

 6.14 Margin Regulations; Investment Company Act. No Borrower is engaged nor will
engage, principally or as one of its important activities, in the business of purchasing or carrying margin stock (within the meaning of Regulation U issued by the FRB), or extending credit for the purpose of purchasing or carrying margin stock. No
Borrower owns any margin stock. None of the Borrowers, any Person Controlling any Borrower, nor any Subsidiary is or is required to be registered as an “investment company” under the Investment Company Act of 1940. 

6.15 Disclosure. Each Borrower has disclosed or caused the Borrower Agent to disclose to the Administrative Agent and the Lenders
all agreements, instruments and corporate or other restrictions to which it or any of its Subsidiaries is subject, and all other matters known to it, that, individually or in the aggregate, could reasonably be expected to result in a Material
Adverse Effect. No report, financial statement, certificate (including the Borrowing Base Certificates) or other information furnished (whether in writing or orally) by or on behalf of any Borrower or any Restricted Subsidiary to the Administrative
Agent or any Lender in connection with the transactions contemplated hereby and the negotiation of this Agreement or delivered hereunder or under any other Loan Document (in each case, as modified or supplemented by other information so furnished)
contains any material misstatement of fact or omits to state any material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided that, with respect to projected
financial information, each Borrower represents only that such information was prepared in good faith based upon assumptions believed to be reasonable at the time. 

6.16 Compliance with Laws. Each Borrower and each Subsidiary is in compliance in all material respects with the requirements of
all Laws and all orders, writs, injunctions and decrees applicable to it or to its properties, except in such instances in which (a) such requirement of Law or order, writ, injunction or decree is being contested in good faith by appropriate
proceedings diligently conducted or (b) the failure to comply therewith, either individually or in the aggregate, could not reasonably be expected to have a Material Adverse Effect. 

6.17 Intellectual Property; Licenses, Etc. Each Borrower and its Subsidiaries own, or possess the right to use, all of the
trademarks, service marks, trade names, copyrights, patents, patent rights, franchises, licenses and other intellectual property rights (collectively, “IP Rights”) that are reasonably necessary for the operation of their
respective businesses, without known conflict with the IP Rights of any other Person, except to the extent any failure so to own or possess the right to use could not reasonably be expected to have a Material Adverse Effect. To the knowledge of each
Borrower, the operation by each Borrower and its Subsidiaries of their respective businesses does not infringe upon any IP Rights held by any other Person. 

6.18 Senior Indebtedness. All Obligations including those to pay principal of and interest (including post-petition interest,
whether or not allowed as a claim under bankruptcy or similar laws) on the Loans and other Obligations, and fees and expenses in connection therewith, constitute “Designated Senior Indebtedness” or similar term relating to the Obligations
and all such Obligations are entitled to the benefits of the subordination created by the Subordinated Notes Indenture or any other applicable Permitted Subordinated Debt Document, as applicable. Each Borrower acknowledges that the Administrative
Agent, each Lender and the L/C Issuer is 
  

 96 

 
entering into this Agreement and is extending its Commitments in reliance upon the subordination provisions of the Subordinated Notes Indenture or applicable Permitted Subordinated Debt Document.

 6.19 OFAC. None of the Borrowers or their Subsidiaries or, to the knowledge of any Responsible Officer, their
respective Affiliates (a) is a Sanctioned Person, (b) has more than 15% of its assets in Sanctioned Countries, or (c) derives more than 15% of its operating income from investments in, or transactions with Sanctioned Persons or Sanctioned Countries.
No part of the proceeds of any Credit Extension hereunder will be used directly or indirectly to fund any operations in, finance any investments or activities in or make any payments to, a Sanctioned Person or a Sanctioned Country. 

6.20 USA PATRIOT Act. Each Borrower and its Subsidiaries is in compliance, in all material respects, with (i) the Trading with the
Enemy Act and each of the foreign assets control regulations of the United States Treasury Department (31 CFR, Subtitle B, Chapter V) and any other enabling legislation or executive order relating thereto, and (ii) the Uniting And Strengthening
America By Providing Appropriate Tools Required To Intercept And Obstruct Terrorism (USA Patriot Act of 2001). No part of the proceeds of the Loans will be used, directly or indirectly, for any payments to any governmental official or employee,
political party, official of a political party, candidate for political office, or anyone else acting in an official capacity, in order to obtain, retain or direct business or obtain any improper advantage, in violation of the United States Foreign
Corrupt Practices Act of 1977. 
 ARTICLE VII. 

AFFIRMATIVE COVENANTS 

So long as any Lender shall have any Revolving Credit Commitment hereunder, any Loan or other Obligation hereunder shall remain unpaid or
unsatisfied, or any Letter of Credit shall remain outstanding, each Borrower shall, and shall (except in the case of the covenants set forth in Sections 7.01, 7.02, 7.03 and 7.11) cause each Restricted Subsidiary to:

 7.01 Financial Statements. Deliver to the Administrative Agent and each Lender: 

(a) within 90 days after the end of each fiscal year of the Company or, if earlier, 15 days after the date required to be filed with the
SEC (without giving effect to any extension permitted by the SEC), a consolidated balance sheet of the Company and its Subsidiaries as at the end of such fiscal year, and the related consolidated statements of income or operations,
stockholders’ equity and cash flows for such fiscal year, setting forth in each case in comparative form the figures for the previous fiscal year, all in reasonable detail and prepared in accordance with GAAP, and audited and accompanied by
(i) a report and opinion of a Registered Public Accounting Firm of nationally recognized standing reasonably acceptable to the Administrative Agent (the “Auditor”), which report and opinion shall be prepared in
accordance with audit standards of the Public Company Accounting Oversight Board and applicable Securities Laws and shall not be subject to any “going concern” or like qualification or exception or any qualification or exception as to the
scope of such audit or with respect to the absence of material misstatement and (ii) to the extent required to be prepared under applicable Securities Laws, the report(s) of management on the Company’s internal control over financial
reporting pursuant to Items 308(a) and 308(c) of Regulation S-K promulgated under the Exchange Act, the Auditor’s attestation report on management’s assessment of the Company’s internal control over financial reporting as filed with
the SEC on Form 10-K for the Company, and an independent assessment by the Auditor as to the effectiveness of the Company’s internal control over financial reporting as required by Auditing Standard No. 2 of the Public Company Accounting
Oversight Board; 
 (b) within 30 days after the end of each Fiscal Month (but within 45 days after the last Fiscal Month of a
fiscal quarter and as soon as available but in any event within 90 days after the last Fiscal Month in a fiscal year), unaudited consolidated balance sheets as of the end of such month and the related statements of income and cash flow for such
month and for the portion of the Fiscal Year then elapsed, on a consolidated basis for the Company and Subsidiaries, setting forth in comparative form corresponding figures for the preceding Fiscal Year and certified by any financial officer of the
Company that is a Responsible Officer as prepared in accordance with GAAP and fairly presenting the financial condition, results of operations, stockholders’ equity and cash flows for such month and period, subject to normal year end
adjustments and the absence of footnotes; 
  

 97 

 (c) simultaneously with the delivery of each set of consolidated financial statements
referred to in clauses (a) and (b) above, the related consolidating financial statements reflecting the adjustments necessary to eliminate the accounts of Unrestricted Subsidiaries (if any) from such consolidated financial statements, or
otherwise demonstrating in a manner reasonably satisfactory to the Administrative Agent compliance with the provisions of Section 7.15 relating to the Unrestricted Subsidiaries; and 

(d) no later than 60 days following the end of each fiscal year, annual financial projections of the Company and its Subsidiaries on a
consolidated basis, in form satisfactory to the Administrative Agent and the Required Lenders, of (i) consolidated balance sheets and statements of income or operations and cash flows and (ii) Availability for the Company and its
Subsidiaries for the current fiscal year, month by month. 
 As to any information contained in materials furnished pursuant to
Section 7.02(d), the Borrowers shall not be separately required to furnish such information under clause (a) or (b) above, but the foregoing shall not be in derogation of the obligation of the Borrowers to furnish the
information and materials described in subsections (a) and (b) above at the times specified therein. 
 7.02
Certificates; Other Information. Deliver to the Administrative Agent and each Lender, in form and detail satisfactory to the Administrative Agent and the Required Lenders: 

(a) concurrently with the delivery of the financial statements referred to in Section 7.01(a), a certificate of its
independent certified public accountants certifying such financial statements and stating that in making the examination necessary they have not become aware of any Default in respect of any term, covenant, condition of Section 8.12 or
other provision in so far as they relate to accounting matters or, if any such Default shall exist, stating the nature and status of such event; 

(b) a Compliance Certificate executed by the any financial officer of the Company that is a Responsible Officer which provides a
reasonably detailed calculation of the Fixed Charge Coverage Ratio delivered concurrently with delivery of financial statements under Sections 7.01 (a) and (b) above, whether or not a Fixed Charge Trigger Period then exists;

 (c) promptly after any request by the Administrative Agent, documents and other information supporting the calculation of any
defined term used in the computation in any Compliance Certificate of the financial covenant set forth in Section 8.12; 

(d) promptly after the same are available, copies of each annual report, proxy or financial statement sent to the stockholders of the
Company, and copies of all annual, regular, periodic and special reports and registration statements which the Company may file or be required to file with the SEC under Section 13 or 15(d) of the Exchange Act, and not otherwise required to be
delivered to the Administrative Agent pursuant hereto; 
 (e) at the Administrative Agent’s request during a Dominion
Trigger Period (but not more frequently than monthly unless a Default or Event of Default has occurred and is continuing), a listing of each Borrower’s trade payables, specifying the trade creditor and balance due all in form satisfactory to
Administrative Agent; and 
  

 98 

 (f) promptly, such additional information regarding the business, financial or corporate
affairs of any Borrower or any Subsidiary, or compliance with the terms of the Loan Documents, as the Administrative Agent or any Lender may from time to time reasonably request. 

Documents required to be delivered pursuant to Section 7.01(a) or (b) or Section 7.02(d) (to the
extent any such documents are included in materials otherwise filed with the SEC) may be delivered electronically and if so delivered, shall be deemed to have been delivered on the date (i) on which the Borrower Agent posts such documents, or
provides a link thereto on the Borrower Agent’s website on the Internet at the website address listed on Schedule 11.02; or (ii) on which such documents are posted on the Borrower Agent’s behalf on an Internet or intranet
website, if any, to which each Lender and the Administrative Agent have access (whether a commercial, third-party website or whether sponsored by the Administrative Agent); provided that: (i) the Borrower Agent shall deliver paper copies
of such documents to the Administrative Agent or any Lender that requests the Borrower Agent to deliver such paper copies until a written request to cease delivering paper copies is given by the Administrative Agent or such Lender and (ii) the
Borrower Agent shall notify (which may be by facsimile or electronic mail) the Administrative Agent and each Lender of the posting of any such documents and provide to the Administrative Agent by electronic mail electronic versions (i.e.,
soft copies) of such documents. Notwithstanding anything contained herein, in every instance the Borrowers shall be required to provide paper copies of the Compliance Certificates required by Section 7.02(b) to the Administrative Agent.
Except for such Compliance Certificates, the Administrative Agent shall have no obligation to request the delivery or to maintain copies of the documents referred to above, and in any event shall have no responsibility to monitor compliance by the
Borrowers with any such request for delivery, and each Lender shall be solely responsible for requesting delivery to it or maintaining its copies of such documents. 

Each Borrower hereby acknowledges that (a) the Administrative Agent and/or the Arrangers will make available to the Lenders and the
L/C Issuer materials and/or information provided by or on behalf of the Borrowers hereunder (collectively, “Borrower Materials”) by posting the Borrower Materials on IntraLinks or another similar electronic system (the
“Platform”) and (b) certain of the Lenders (each, a “Public Lender”) may have personnel who do not wish to receive material non-public information with respect to the Borrowers or its Affiliates,
or the respective securities of any of the foregoing, and who may be engaged in investment and other market-related activities with respect to such Persons’ securities. Each Borrower hereby agrees that, so long as any Borrower is the issuer of
any outstanding debt or equity securities that are registered or issued pursuant to a private offering or is actively contemplating issuing any such securities, (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”, each Borrower shall
be deemed to have authorized the Administrative Agent, the Arrangers, the L/C Issuer and the Lenders to treat such Borrower Materials as not containing any material non-public information with respect to any 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 11.07); (y) all Borrower Materials
marked “PUBLIC” are permitted to be made available through a portion of the Platform designated “Public Investor”; 

 

 99 

 
and (z) the Administrative Agent and the Arrangers shall be entitled to treat any Borrower Materials that are not marked “PUBLIC” as being suitable only for posting on a portion of
the Platform not designated “Public Investor”. Notwithstanding the foregoing, the Borrowers shall be under no obligation to mark any Borrower Materials “PUBLIC.” 

7.03 Notices. Promptly notify the Administrative Agent and each Lender: 

(a) of the occurrence of any Default; 

(b) of any matter that has resulted or could reasonably be expected to result in a Material Adverse Effect, including (i) breach or
non-performance of, or any default under, a Contractual Obligation of any Borrower or any Subsidiary; (ii) any dispute, litigation, investigation, proceeding or suspension between any Borrower or any Subsidiary and any Governmental Authority;
(iii) the commencement of, or any material development in, any litigation or proceeding affecting any Borrower or any Subsidiary, including pursuant to any applicable Environmental Laws; violation or asserted violation of any applicable Law;

 (c) of the occurrence of any ERISA Event; and 

(d) of (i) any material change in accounting policies or financial reporting practices by any Borrower or any Subsidiary, including
the discharge, withdrawal or resignation of the Company’s Auditors or (ii) any determination by the Borrower Agent referred to in Section 2.11(b). 

Each notice pursuant to this Section 7.03 shall be accompanied by a statement of a Responsible Officer of the Borrower Agent
setting forth details of the occurrence referred to therein and stating what action the Borrowers have taken and proposes to take with respect thereto. Each notice pursuant to Section 7.03(a) shall describe with particularity any and all
provisions of this Agreement and any other Loan Document that have been breached. 
 7.04 Payment of Obligations. Pay and
discharge as the same shall become due and payable (taking into account any extensions), all its obligations and liabilities, including (a) all tax liabilities, assessments and governmental charges or levies upon it or its properties or assets,
unless the same are being Properly Contested; (b) all lawful claims which, if unpaid, would by law become a Lien upon its property, except to the extent that any such Lien would otherwise be permitted by Section 8.01; and
(c) all Indebtedness having an aggregate principal amount (including undrawn committed or available amounts and including amounts owing to all creditors under any combined or syndicated credit arrangement) of more than $10,000,000, as and when
due and payable, but subject to any subordination provisions contained in any instrument or agreement evidencing such Indebtedness. 

7.05 Preservation of Existence, Etc. (a) Preserve, renew and maintain in full force and effect its legal existence and good
standing under the Laws of the jurisdiction of its organization or formation except in a transaction permitted by Section 8.04 or 8.05; (b) take all reasonable action to maintain all rights, privileges, permits, licenses and
franchises necessary or desirable in the normal conduct of its business, except to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect; and (c) preserve or renew all of its

  

 100 

 
registered patents, trademarks, trade names and service marks, the non-preservation of which could reasonably be expected to have a Material Adverse Effect. 

7.06 Maintenance of Properties. (a) Maintain, preserve and protect all of its properties (other than insignificant
properties) and equipment necessary in the operation of its business in good working order and condition, ordinary wear and tear excepted except where the failure to do so could not reasonably be expected to have a Material Adverse Effect;
(b) make all necessary repairs thereto and renewals and replacements thereof except where the failure to do so could not reasonably be expected to have a Material Adverse Effect; and (c) use the standard of care typical in the industry in
the operation and maintenance of its facilities. 
 7.07 Maintenance of Insurance; Condemnation Proceeds. 

(a) Any proceeds of insurance (other than proceeds from workers’ compensation or D&O insurance) covering Collateral and any
awards arising from condemnation of any Collateral shall be deposited to a Dominion Account. 
 (b) The Borrowers shall
maintain, with financially sound and reputable insurance companies, insurance with respect to its properties and business against loss or damage of the kinds customarily insured against by Persons engaged in the same or similar business, of such
types and in such amounts as are customarily carried under similar circumstances by such other Persons and (i) naming the Administrative Agent, on behalf of itself and for the benefit of the Secured Parties, as lenders loss payee and
(ii) providing for not less than 30 days’ prior notice to the Administrative Agent of termination, lapse or cancellation of such insurance, none of which insurance (other than worker’s compensation insurance, disability insurance and
other similar types of insurance that do not constitute the insurance of its properties or of interruptions to its business operations) shall be provided by any Subsidiary or any other Affiliate of the Borrowers. 

7.08 Compliance with Laws. Comply in all material respects with the requirements of all Laws (including without limitation all
applicable Environmental Laws) and all orders, writs, injunctions and decrees applicable to it or to its business or property, except in such instances in which (a) such requirement of Law or order, writ, injunction or decree is being Properly
Contested; or (b) the failure to comply therewith could not reasonably be expected to have a Material Adverse Effect. 

7.09 Books and Records. (a) Maintain proper books of record and account, in which full, true and correct entries in
conformity with GAAP consistently applied shall be made of all financial transactions and matters involving the assets and business of the Borrowers or such Subsidiary, as the case may be; and (b) maintain such books of record and account in
material conformity with all applicable requirements of any Governmental Authority having regulatory jurisdiction over any Borrower or such Subsidiary, as the case may be. 

7.10 Inspection Rights; Appraisals. 

(a) Permit the Administrative Agent or its designees or representatives from time to time, subject (except when a Default or Event of
Default exists) to reasonable notice and normal business hours, to conduct Field Exams and/or appraisals of Inventory; provided that representatives of the Borrowers shall be given the opportunity to participate in any discussions

  

 101 

 
with the independent accountants. Lenders may participate in any such Field Exams at their own expense. Neither the Administrative Agent nor any Lender shall have any duty to any Borrower to make
any Field Exam, nor to share any results of any Field Exam with any Borrower, other than results of appraisals, which may be shared with the Borrower Agent upon request. The Borrowers acknowledge that all Field Exams, appraisals and reports are
prepared by or for the Administrative Agent and Lenders for their purposes, and Borrowers shall not be entitled to rely upon them. 

(b) Reimburse the Administrative Agent for all reasonable and documented out-of-pocket charges, costs and expenses of the Administrative
Agent in connection with Field Exams and Inventory appraisals conducted up to two times during any 12 month period, plus, during any Dominion Trigger Period, one additional Field Exam and one additional Inventory appraisal for such 12 month period;
provided, however, that if a Field Exam or Inventory appraisal is conducted during the continuance of an Event of Default, all charges, costs and expenses therefor shall be reimbursed by Borrowers without regard to such limits. The Borrowers
specifically agree to pay the Administrative Agent’s then standard charges for each day that an employee of the Administrative Agent or its Affiliates is engaged in any Field Exam activities for all Field Exams conducted as provided herein, and
shall pay the standard charges of the Administrative Agent’s internal appraisal group. This Section shall not be construed to limit the Administrative Agent’s right to use third parties to conduct Field Exams. 

7.11 Use of Proceeds. Use the proceeds of the Credit Extensions (i) to refinance certain Indebtedness under the Existing
Agreement, (ii) to pay fees and expenses in connection with the Transactions, and/or (iii) for working capital, capital expenditures, and other general corporate purposes not in contravention of any Law or of any Loan Document. 

7.12 New Subsidiaries. As soon as practicable but in any event within 30 Business Days following the acquisition or creation of
any Domestic Restricted Subsidiary that is a Material Subsidiary, or the time any existing Domestic Subsidiary (other than any Unrestricted Subsidiary) is otherwise required to become a Borrower in compliance with Section 3.03(b) or
Section 7.15(b)(i), in each such case, the Company shall cause to be delivered to the Administrative Agent each of the following, as applicable: 

(a) a Borrower Joinder Agreement duly executed by such Domestic Subsidiary; 

(b) a Security Joinder Agreement duly executed by such Domestic Subsidiary; 

(c) Uniform Commercial Code financing statements naming such Domestic Subsidiary as “Debtor” and naming the Administrative
Agent for the benefit of the Secured Parties as “Secured Party,” in form, substance and number sufficient in the reasonable opinion of the Administrative Agent and its special counsel to be filed in all Uniform Commercial Code filing
offices and in all jurisdictions in which filing is necessary to perfect in favor of the Administrative Agent for the benefit of the Secured Parties the Lien on the Collateral conferred under such Security Instrument to the extent such Lien may be
perfected by Uniform Commercial Code filing; 
  

 102 

 (d) upon the reasonable request of the Administrative Agent, an opinion of counsel to each
Domestic Subsidiary executing Joinder Agreements, pursuant to this Section 7.12, dated as of the date of delivery of such applicable Joinder Agreements (and other Loan Documents) provided for in this Section 7.12 and
addressed to the Administrative Agent and the Lenders, reasonably acceptable to the Administrative Agent, each of which opinions may be in form and substance, including assumptions and qualifications contained therein, substantially similar to those
opinions of counsel delivered pursuant to Section 5.01(a); 
 (e) current copies of the Organization Documents of
each such Domestic Subsidiary, minutes of duly called and conducted meetings (or duly effected consent actions) of the Board of Directors, partners, or appropriate committees thereof (and, if required by such Organization Documents or applicable
law, of the stockholders, members or partners) of such Domestic Subsidiary authorizing the actions and the execution and delivery of documents described in this Section 7.12, all certified by the applicable Governmental Authority or
appropriate officer as the Administrative Agent may elect; and 
 (f) upon the reasonable request of the Administrative Agent,
updated certificates of insurance required under Section 7.07 evidencing such new Domestic Subsidiary is included in the coverage required therein. 

7.13 Compliance with ERISA. Do, and cause each of its ERISA Affiliates to do, each of the following: (a) maintain each Plan
and Foreign Pension Plan in compliance in all material respects with the applicable provisions of ERISA, the Code and other applicable Laws, including Foreign Benefit Laws; (b) cause each Plan which is qualified under section 401(a) of the Code
to maintain such qualification; (c) cause each Foreign Pension Plan subject to any Foreign Benefit Law to maintain any required approvals by any Governmental Authority regulating such Foreign Pension Plan, (d) make all required
contributions to any Plan subject to the Pension Funding Rules, and (e) make all required contributions and payments to any Foreign Pension Plans. 

7.14 Further Assurances. At the Borrowers’ cost and expense, upon request of the Administrative Agent, duly execute and
deliver or cause to be duly executed and delivered, to the Administrative Agent such further instruments, documents, certificates, financing and continuation statements, and do and cause to be done such further acts that may be reasonably necessary
or advisable in the reasonable opinion of the Administrative Agent to carry out more effectively the provisions and purposes of this Agreement, the Security Instruments and the other Loan Documents. 

7.15 Unrestricted Subsidiaries. 

(a) The Borrower Agent may at any time designate any Restricted Subsidiary as an Unrestricted Subsidiary or any Unrestricted Subsidiary as
a Restricted Subsidiary; provided that (i) immediately before and after such designation, no Default shall have occurred and be continuing, (ii) no Restricted Subsidiary may be designated as an Unrestricted Subsidiary if it was
previously designated an Unrestricted Subsidiary or if any of its Subsidiaries is a Restricted Subsidiary (unless such Subsidiaries are being designated as Unrestricted Subsidiaries simultaneously therewith), (iii) immediately after giving
effect to such designation (A) the 
  

 103 

 
Borrowers and the Restricted Subsidiaries shall be in compliance, on a historical pro forma basis, with the covenants set forth in Sections 8.02 and 8.12, (B) Pro Forma
Availability shall be at least 25% of the Aggregate Commitments, (C) the aggregate amount of net sales of the Unrestricted Subsidiaries shall not exceed 10% of the aggregate amount of net sales of the Company and its Subsidiaries on a
consolidated basis, (D) the consolidated EBITDA (measured on the same basis as “Consolidated EBITDA” provided herein, but for the Unrestricted Subsidiaries only) of the Unrestricted Subsidiaries shall not exceed 10% of the
Consolidated EBITDA (measured as if all Subsidiaries were Restricted Subsidiaries for this purpose) of the Company and its Subsidiaries on a consolidated basis, and (E) the aggregate amount of total assets of the Unrestricted Subsidiaries shall
not exceed 10% of the total assets of the Company and its Subsidiaries, and (iv) prior to the effectiveness of any such designation, the Borrower Agent shall deliver to the Administrative Agent a certificate setting forth in reasonable detail
the calculations demonstrating compliance with the preceding subsections (iii)(A) through (iii)(E). The designation of any Subsidiary as an Unrestricted Subsidiary shall constitute an Investment by the Company therein at the date of designation in
an amount equal to the sum of (i) the Company’s direct or indirect equity ownership percentage of the net worth of such designated Restricted Subsidiary immediately prior to such designation (such net worth to be calculated without regard
to any guarantee provided by such designated Restricted Subsidiary) and (ii) without duplication, the aggregate principal amount of all Indebtedness owed by such designated Unrestricted Subsidiary and its Subsidiaries (to the extent such
Subsidiaries are not previously Unrestricted Subsidiaries) to the Company or any Restricted Subsidiary immediately prior to such designation, all calculated, except as set forth in the parenthetical to clause (i), on a consolidated basis in
accordance with GAAP (and such designation shall only be permitted to the extent such Investment is permitted under Section 8.02). 

(b) If at any time: 

(i) an Unrestricted Subsidiary becomes a guarantor of the Subordinated Notes, the Senior Notes or of any other
Indebtedness of the Company or any Restricted Subsidiary, then the Borrower Agent shall provide prompt notice thereof to the Administrative Agent, and in any case within 10 days of such occurrence, and such Subsidiary shall automatically become a
Restricted Subsidiary and a Borrower hereunder in compliance with, and otherwise satisfy the provisions of, Section 7.12, or 

(ii) any of the following occurs: (x) the aggregate amount of net sales of the Unrestricted Subsidiaries exceeds 10%
of the aggregate amount of net sales of the Company and its Subsidiaries on a consolidated basis, (y) the consolidated EBITDA (measured on the same basis as “Consolidated EBITDA” provided herein, but for the Unrestricted Subsidiaries
only) of the Unrestricted Subsidiaries exceeds 10% of the Consolidated EBITDA (measured as if all Subsidiaries were Restricted Subsidiaries for this purpose) of the Company and its Subsidiaries on a consolidated basis, or (z) the aggregate
amount of total assets of the Unrestricted Subsidiaries exceeds 10% of the total assets of the Company and its Subsidiaries, then in any such case the Borrower Agent will promptly, and in any event within 10 days thereafter, designate one or more
Unrestricted Subsidiaries a Restricted Subsidiaries 
  

 104 

 
so that, after such designation, none of the tests in subsections (x), (y) and (z) is then violated. 

(c) If at any time a Restricted Subsidiary is designated as an Unrestricted Subsidiary in compliance with this Agreement, the
Administrative Agent shall be authorized to, and shall at the request of the Borrower Agent, (i) release such Unrestricted Subsidiary from any Loan Document to which it is a party and release any Administrative Agent’s Liens on the
property or assets of such Unrestricted Subsidiary, and (ii) all Accounts and Inventory of such Subsidiary shall be excluded from the Borrowing Base. 

(d) If at any time any Unrestricted Subsidiary is designated or becomes a Restricted Subsidiary pursuant to the terms of this Agreement,
such Restricted Subsidiary shall, to the extent required thereby, comply with the provisions of Section 7.12 within the time required therein. 

(e) Except as otherwise provided in the definitions of “Accounts Formula Amount” and “Inventory Formula Amount”, none
of the Accounts or Inventory of any Subsidiary newly designated as a Borrower shall be included in the calculation of the Borrowing Base until Agent has conducted Field Exams and appraisals reasonably required by it with results reasonably
satisfactory to the Administrative Agent and the Person owning such Accounts or Inventory shall be a (directly or indirectly) wholly-owned Subsidiary of the Company and have become a Borrower. 

7.16 Licenses. (a) Keep in full force and effect each License (i) the expiration or termination of which could
reasonably be expected to materially adversely affect the realizable value in the use or sale of a material amount of Inventory or (ii) the expiration or termination of which could reasonably be expected to have a Material Adverse Effect (each
a “Material License”); (b) promptly notify Administrative Agent of (i) any material modification to any such Material License that could reasonably be expected to be materially adverse to any Borrower or the Administrative
Agent or any Lender and (ii) entering into any new Material License; (c) pay all Royalties (other than immaterial Royalties or Royalties being Properly Contested) arising under such Material Licenses when due (subject to any cure or grace
period applicable thereto); and (d) notify Administrative Agent of any material default or material breach asserted in writing by any Person to have occurred under any such Material License. 

7.17 Landlord and Storage Agreements. Upon request, provide Administrative Agent with copies of all existing and future
agreements entered into between a Borrower and any landlord, warehouseman, processor, shipper, bailee or other Person that owns any premises at which any Collateral with an aggregate value of $3,000,000 or greater may be kept or that otherwise may
possess any Collateral with an aggregate value of $3,000,000 or greater, but in each case, only if any Collateral is reasonably likely to remain on such premises or in such possession, as applicable, for at least 30 days. 

 

 105 

 ARTICLE VIII. 

NEGATIVE COVENANTS 

So long as any Lender shall have any Revolving Credit Commitment hereunder, any Loan or other Obligation hereunder shall remain unpaid or
unsatisfied, or any Letter of Credit shall remain outstanding, no Borrower shall, nor shall it permit any Restricted Subsidiary to, directly or indirectly: 

8.01 Liens. Create, incur, assume or suffer to exist any Lien upon any of its property, assets or net sales, whether now owned or
hereafter acquired, other than the following: 
 (a) Liens pursuant to any Loan Document; 

(b) Liens existing on the date hereof and listed on Schedule 8.01 and any renewals or extensions thereof, provided that the
property covered thereby consists only of the property covered by the Liens being renewed or extended and any renewal or extension of the obligations secured or benefited thereby is permitted by Section 8.03(b); 

(c) Liens for taxes, assessments or other governmental charges, not yet due or which are being Properly Contested; 

(d) Liens of carriers, warehousemen, mechanics, materialmen, repairmen, landlords or other like Liens imposed by Law or arising in the
Ordinary Course of Business which are not overdue for a period of more than 30 days or which are being Properly Contested; 
  

 106 

 (e) Liens, pledges or deposits in the Ordinary Course of Business in connection with
workers’ compensation, unemployment insurance and other social security legislation, other than any Lien imposed by ERISA or a Foreign Benefit Law; 

(f) Liens or deposits to secure the performance of bids, trade contracts and leases (other than Indebtedness), statutory obligations,
surety bonds (other than bonds related to judgments or litigation), performance bonds and other obligations of a like nature incurred in the Ordinary Course of Business, and including deposits (but not Liens) related to the acquisition of property;

 (g)(i) Liens with respect to minor imperfections of title and easements, rights-of-way, covenants, consents, reservations,
encroachments, variations and zoning and other similar restrictions, charges, encumbrances or title defects affecting real property which, in the aggregate, are not substantial in amount, and which do not in any case materially detract from the
value of the property subject thereto or materially interfere with the ordinary conduct of the business of the applicable Person and does not materially detract from the value of or materially impair the use by the Borrowers in the ordinary course
of its business of the property subject to or to be subject to such encumbrance; 
 (h) any interest or title of a lessor or
sublessor and any restriction or encumbrance to which the interest or title of such lessor or sublessor may be subject (i) that is incurred in the Ordinary Course of Business, (ii) if arising with respect to rent or any other obligation,
such rent or other obligation is not in default, and (iii) either individually or when aggregated with all other Liens described in clauses (a) through (g) in effect on any date of determination, could not be reasonably expected to
have a Material Adverse Effect; 
 (i) Liens securing judgments for the payment of money not constituting an Event of Default
under Section 9.01 or securing appeal or other surety bonds related to such judgments; 
 (j) Liens securing
Indebtedness permitted under Section 8.03(e); provided that (i) such Liens do not at any time encumber any property other than the property financed by such Indebtedness and (ii) the Indebtedness secured thereby does not
exceed the cost or fair market value, whichever is lower, of the property being acquired on the date of acquisition; 
 (k)
Liens in the nature of trustees’ Liens granted pursuant to any indenture governing any Indebtedness permitted by Section 8.03, in each case in favor of the trustee (but not the holders of such Indebtedness) under such indenture and
securing only obligations to pay compensation to such trustee, to reimburse its expenses and to indemnify it under the terms thereof; 

(l) Liens of sellers of goods to the Borrowers and the Restricted Subsidiaries arising under Article 2 of the UCC or similar provisions
of applicable law in the Ordinary Course of Business, covering only the goods sold and securing only the unpaid purchase price for such goods and related expenses; 

(m) Liens securing Assumed Indebtedness of the Borrowers and the Restricted Subsidiaries permitted pursuant to
Section 8.03(f); provided that (i) such Liens do not at any time encumber any property of any Domestic Subsidiary that would constitute Collateral if such 

 

 107 

 
Domestic Subsidiary were a Borrower, (ii) such Liens do not at any time encumber any property other than property of the Subsidiary acquired, or the property acquired, and proceeds thereof
in connection with such Assumed Indebtedness and shall not attach to any assets of the Borrowers or the Restricted Subsidiaries theretofore existing or (except for any such proceeds) which arise after the date thereof, and (iii) the Assumed
Indebtedness and other secured Indebtedness of the Borrowers and the Restricted Subsidiaries secured by any such Lien does not exceed the fair market value of the property being acquired in connection with such Assumed Indebtedness; 

(n) Liens on the Equity Interests of Unrestricted Subsidiaries securing Indebtedness incurred by such Unrestricted Subsidiaries;

 (o) Liens on assets of Foreign Subsidiaries of the Company securing Indebtedness of such Foreign Subsidiaries permitted
pursuant to clauses (g) and (k) of Section 8.03; 
 (p) operating leases or subleases
granted by the Borrowers or the Restricted Subsidiaries to any other Person in the Ordinary Course of Business; 
 (q) Liens on
assets other than Collateral securing Indebtedness permitted under Section 8.03(n); 
 (r) Liens securing
Indebtedness constituting Second Lien Obligations permitted by Section 8.03(n) that are junior in priority to any security interest in the Collateral pursuant to any Security Instrument; 

(s) Liens on specific items of Inventory or other goods of any Person securing such Person’s obligations in respect of bankers’
acceptances issued or created for the account of such Person to facilitate the shipment or storage of such Inventory or goods; 

(t) Liens in favor of collecting or payor banks having a right of setoff, revocation, refund or chargeback with respect to money or
instruments of the Company or any Restricted Subsidiary thereof on deposit with or in possession of such bank; 
 (u) Liens
arising from precautionary UCC financing statements regarding operating leases or consignments; and 
 (v) additional Liens
attaching to assets that are not included in the Collateral so long as the aggregate principal amount of the obligations so secured does not exceed $15,000,000 at any time outstanding. 

8.02 Investments. Make any Investments, except: 

(a) Investments held by the Borrowers or the Restricted Subsidiaries in the form of Cash Equivalents; 

(b) loans and advances to officers, directors and employees of the Borrowers and the Restricted Subsidiaries either (i) made in the
Ordinary Course of Business of the Borrowers and the Restricted Subsidiaries as conducted on the Closing Date to the extent permitted by 

 

 108 

 
applicable Law, or (ii) made in connection with the relocation of any such officer, director or employee in an aggregate amount at any one time outstanding not to exceed $5,000,000;

 (c) Investments consisting of extensions of credit in the nature of accounts receivable or notes receivable arising from the
grant of trade credit in the Ordinary Course of Business, and Investments received in satisfaction or partial satisfaction thereof from financially troubled account debtors to the extent reasonably necessary in order to prevent or limit loss;

 (d) Guarantees, and letters of credit issued in support of such Guarantees, permitted by Section 8.03;

 (e) equity Investments existing as of the date hereof and as set forth in Schedule 6.13(a) or Schedule 6.13(b)
and other Investments existing as of the date hereof and as set forth in Schedule 8.02 and extensions or renewals thereof, provided that no such extension or renewal shall be permitted if it would (x) increase the amount of such
Investment at the time of such extension or renewal or (y) result in a Default hereunder; 
 (f) Investments constituting
Consolidated Capital Expenditures; 
 (g) Investments in the form of non-cash consideration received from a Disposition
permitted by Section 8.05(e); 
 (h) Investments by the Company or any Restricted Subsidiary consisting of the
transfer of Equity Interests of a Foreign Subsidiary to another Foreign Subsidiary that is a Restricted Subsidiary; 
 (i)
Investments made or held by any Foreign Subsidiary of the Company that is a Restricted Subsidiary in any other Foreign Subsidiary of the Company that is a Restricted Subsidiary; 

(j) Investments of (i) the Company or any Restricted Subsidiary in the Company or any Borrower at any time, (ii) the Company or
any Restricted Subsidiary in any Restricted Subsidiary or Unrestricted Subsidiary existing as of the date hereof and (iii) the Company or any Restricted Subsidiary in any Restricted Subsidiary that is not a Borrower made after the date hereof
in an aggregate amount at any one time outstanding not to exceed $5,000,000; 
 (k) Investments in the form of securities of any
Person acquired in an Acquisition permitted hereunder and Assumed Indebtedness in respect of a Person or property acquired in an Acquisition permitted hereunder; 

(l) Investments in Swap Contracts permitted to be maintained under Section 8.03(d); 

(m) Investments consisting of Indebtedness held by the Borrowers and the Restricted Subsidiaries arising on account of the accrual of
interest on such Investments; 
 (n) Investments consisting of extensions of credit to customers and vendors in the Ordinary
Course of Business in an aggregate amount at any one time outstanding not to exceed $2,000,000; 
  

 109 

 (o) Investments consisting of intercompany loans by any Borrower or any Restricted
Subsidiary or any Unrestricted Subsidiary to any Domestic Restricted Subsidiary or Foreign Subsidiary of the Company in an aggregate amount at any one time outstanding not to exceed $15,000,000; and 

(p) other Investments if, prior to each such Investment, the Borrower Agent has delivered a certificate to the Administrative Agent
demonstrating that either (i) Pro Forma Availability shall be at least 25% of the Aggregate Commitments for each day during the 30 day period prior to such Investment and immediately after giving effect thereto or (ii)(a) the Consolidated
Fixed Charge Coverage Ratio (calculated on a pro forma basis giving effect to such Investment and any Indebtedness incurred in connection therewith, all in accordance with Section 1.03(d)) as of the most recently ended Measurement Period
shall be at least 1.10 to 1.00, and (b) Pro Forma Availability shall exceed 20% of the Aggregate Commitments for each day during the 30 day period prior to such Investment and immediately after making such Investment; 

provided that, notwithstanding the foregoing, (i) any Investment which when made complies with the requirements of the definition of the term
“Cash Equivalent” may continue to be held notwithstanding that such Investment if made thereafter would not comply with such requirements; and (ii) no Investment otherwise permitted by clause (d) (except to the extent related to
Indebtedness then permitted to be incurred under Section 8.03), (k) or (p) shall be permitted to be made if, immediately before or after giving effect thereto, any Default shall have occurred and be continuing. 

8.03 Indebtedness. Create, incur, assume or suffer to exist any Indebtedness, except: 

(a) Indebtedness under the Loan Documents; 

(b) Indebtedness outstanding on the date hereof and listed on Schedule 8.03 and any Permitted Refinancing Indebtedness of such
Indebtedness; 
 (c) Guarantees of the Borrowers or other Restricted Subsidiaries in respect of Indebtedness otherwise permitted
hereunder of the Borrowers or other Restricted Subsidiaries (other than Indebtedness described in clauses (i) or (k) below), provided that (i) any guarantee of Permitted Subordinated Debt or of any other
Indebtedness permitted hereunder that is subordinated to the Obligations shall be subordinated to the Obligations on substantially the same terms as such Permitted Subordinated Debt or other subordinated Indebtedness and (ii) the Borrowers may
provide Guarantees of Indebtedness described in clause (g) below, provided such Guarantees shall be unsecured and all such Indebtedness Guaranteed by this clause (c)(ii) shall not exceed $50,000,000 in the aggregate; 

(d) obligations (contingent or otherwise) of the Borrowers or any Subsidiary existing or arising under any Swap Contract, provided
that (i) such obligations are (or were) entered into by such Person in the Ordinary Course of Business for the purpose of directly mitigating risks associated with liabilities, commitments, investments, assets, cash flows or property held or
reasonably anticipated by such Person, or changes in the value of securities issued by such Person, and not for purposes of speculation or taking a “market view;” and (ii) such Swap

  

 110 

 
Contract does not contain any provision exonerating the non-defaulting party from its obligation to make payments on outstanding transactions to the defaulting party; 

(e) Indebtedness in respect of capital leases, Synthetic Lease Obligations and purchase money obligations for real property and fixed or
capital assets within the limitations set forth in Section 8.01(j); provided, however, that the aggregate amount of all such Indebtedness at any one time outstanding shall not exceed $50,000,000; 

(f) Assumed Indebtedness of the Borrowers in an aggregate principal amount not to exceed $75,000,000 at any time outstanding; 

(g) Indebtedness of Foreign Subsidiaries of the Company in an aggregate principal amount on the date of incurrence thereof not exceeding
10% of the total assets of the Company and its Restricted Subsidiaries as of the end of the most recently ended fiscal year of the Company; 

(h) the endorsement of negotiable instruments for deposit or collection or similar transactions in the Ordinary Course of Business;

 (i) Indebtedness of (i) any Borrower owing to a Borrower or any Restricted Subsidiary and (ii) (x) any
Domestic Restricted Subsidiary which is not a Borrower owing to any Borrower or any Domestic Restricted Subsidiary or (y) any Foreign Subsidiary that is a Restricted Subsidiary of the Company owing to a Borrower or any Domestic Subsidiary;
provided that (A) in the case of any Indebtedness described in subpart (ii) above, the Investment by such Borrower or Domestic Subsidiary is permitted by Section 8.02(o) or 8.02(p), and (B) any such
Indebtedness described in clause (i) or (ii)(y) which is owing to the Company or any of its Domestic Restricted Subsidiaries, (1) to the extent requested by the Administrative Agent, such Indebtedness shall be evidenced by
one or more promissory notes in form and substance satisfactory to the Administrative Agent which shall be duly executed and delivered to (and indorsed to the order of) the Administrative Agent in pledge pursuant to a pledge agreement acceptable to
the Administrative Agent and (2) in the case of any such Indebtedness owed by a Person other than a Borrower, such Indebtedness shall not be forgiven or otherwise discharged for any consideration other than payment (Dollar for Dollar) in cash
unless the Administrative Agent otherwise consents; 
 (j) surety bonds permitted under Section 8.01; 

(k) Indebtedness of any Foreign Subsidiary owing to any other Foreign Subsidiary; 

(l) Permitted Subordinated Debt and any Permitted Refinancing Indebtedness of such Permitted Subordinated Debt; 

(m) other unsecured Indebtedness of the Company and its Subsidiaries in an aggregate amount at any time outstanding of up to $500,000,000
so long as such Indebtedness has a stated maturity date no earlier than the first day following the Revolving Credit Maturity Date; 

(n) Indebtedness of the Company and its Subsidiaries (i) secured by assets other than Collateral so long as such Indebtedness has a
stated maturity date no earlier than the first day 
  

 111 

 
following the Revolving Credit Maturity Date and/or (ii) consisting of Second Lien Obligations, all in an aggregate principal amount on the date of incurrence thereof not to exceed two times
the Consolidated EBITDA of the Company and its Restricted Subsidiaries as of the most recent date financial statements have been delivered to the Administrative Agent pursuant to Section 7.01 proximate to the date such Indebtedness
and/or Second Lien Obligations are incurred; and 
 (o) the Senior Notes and any Permitted Refinancing Indebtedness of such
Senior Notes; 
 provided that (i) no Indebtedness otherwise permitted by clause (e), (f), (g),
(i) (as such clause (i) relates to loans made by any Borrower to Restricted Subsidiaries which are not Borrowers), (m) or (n) may be incurred if, immediately before or after giving effect to the
incurrence thereof, any Default shall have occurred and be continuing, and (ii) all such Indebtedness of the type described in clause (i)(i)(y) above that is owed to Subsidiaries that are not Borrowers shall be subordinated, in writing,
to the Obligations upon terms satisfactory to the Administrative Agent. 
 8.04 Fundamental Changes. Merge, dissolve,
liquidate, consolidate with or into another Person, or Dispose of (whether in one transaction or in a series of transactions) all or substantially all of its assets (whether now owned or hereafter acquired) to or in favor of any Person, except that,
so long as no Default exists or would result therefrom: 
 (a) any Restricted Subsidiary may merge with a Borrower or any one or
more other Restricted Subsidiaries, provided that when a Borrower is merging with a Restricted Subsidiary, the Borrower shall be the continuing or surviving Person; and 

(b) any Restricted Subsidiary may Dispose of all or substantially all of its assets (upon voluntary liquidation or otherwise) to a
Borrower or another Restricted Subsidiary; provided that if the transferor in such a transaction is a Borrower, then the transferee must also be a Borrower; and 

(c) a merger or consolidation necessary to consummate (i) an Acquisition permitted by and in compliance with
Section 8.13 or (ii) a Disposition permitted by and in compliance with Section 8.05 shall be permitted hereunder. 

8.05 Dispositions. Make any Disposition or enter into any agreement to make any Disposition, except: 

(a) Dispositions in the Ordinary Course of Business (so long as such Disposition does not constitute a Disposition of all or a
substantial part of the Company’s and the Restricted Subsidiaries’ assets, taken as a whole) or of obsolete or worn out property; 

(b) any Disposition that constitutes (i) an Investment permitted under Section 8.02, (ii) a Lien permitted under
Section 8.01, (ii) a merger or Disposition permitted under Section 8.04(a) or (b), or (iii) a Restricted Payment permitted under Section 8.06; 

(c) Dispositions for fair market value of equipment or real property to the extent that (i) such equipment or real property is
exchanged for credit against the purchase price of similar 
  

 112 

 
replacement property or (ii) the proceeds of such Disposition are reasonably promptly applied to the purchase price of such replacement equipment or real property; 

(d) Dispositions of property by a Borrower or any Restricted Subsidiary to a wholly-owned Restricted Subsidiary or, solely with respect
to Dispositions of the Equity Interests of a Restricted Subsidiary, to the Company or a Domestic Subsidiary; provided that if the transferor of such property is a Borrower, the transferee thereof must be a Borrower; 

(e) Dispositions of assets or Equity Interests of the Subsidiaries, so long as (i) each such Disposition is, in the reasonable
judgment of the Company, for fair market value, (ii) both before and after giving effect thereto, no Default or Event of Default has occurred and is continuing, (iii) immediately after giving effect to such Disposition, Pro Forma
Availability shall be at least 25% of the Aggregate Commitments and (iv) the aggregate amount of all Dispositions made pursuant to this subsection in any one fiscal year of the Company does not exceed 20% of the total assets of the Company and
its Restricted Subsidiaries as of the end of the most recently ended fiscal year of the Company; 
 (f) such Disposition that
results from a casualty or condemnation in respect of such property or assets and is not otherwise an Event of Default under Section 9.01; 

(g) such Disposition that consists of the sale or discount of overdue accounts receivable that are not Eligible Accounts in the Ordinary
Course of Business in an aggregate original amount for all such Accounts in any fiscal year of up to $5,000,000, but only in connection with the compromise or collection thereof, provided that the Net Cash Proceeds from such Disposition shall be
deposited in a Dominion Account; and 
 (h) Dispositions of assets with respect to which the fair market value of all such
assets Disposed of, whether individually or in a series of related transactions, does not exceed $10,000,000 in the aggregate during the term of this Agreement. 

8.06 Restricted Payments. Declare or make, directly or indirectly, any Restricted Payment, or incur any obligation (contingent or
otherwise) to do so, except that, in each case (except Section 8.06(a)) so long as no Default or Event of Default shall have occurred and be continuing (both before and after the making of such Restricted Payment): 

(a) each Restricted Subsidiary may make Restricted Payments to the Company and to wholly-owned Restricted Subsidiaries that are
Borrowers; 
 (b) the Company and each Subsidiary may declare and make dividend payments or other distributions payable solely
in the common stock or other common Equity Interests of such Person; 
 (c) the Company and each Subsidiary may purchase, redeem
or otherwise acquire shares of its common stock or other common Equity Interests or warrants or options to acquire any such shares in connection with customary employee or management agreements, plans or arrangements; 

 

 113 

 (d) the Company shall be permitted to make Restricted Payments in the form of cash dividends
to the stockholders of the Company in an aggregate amount in any fiscal year not to exceed $15,000,000 if prior to each such Restricted Payment, the Borrower Agent has delivered a certificate to the Administrative Agent demonstrating that Pro
Forma Availability shall exceed 25% of the Aggregate Commitments for each day during the 30 day period prior to such Restricted Payment and immediately after making such Restricted Payment. 

(e) the Company and each Subsidiary shall be permitted to make other Restricted Payments in the form of cash dividends, distributions,
purchases, redemptions or other acquisitions of or with respect to Equity Interests if, prior to each such Restricted Payment, the Borrower Agent has delivered a certificate to the Administrative Agent demonstrating that (A) the Consolidated
Fixed Charge Coverage Ratio (calculated on a pro forma basis giving effect to such Restricted Payment in accordance with Section 1.03(d)) as of the most recently ended Measurement Period shall be at least 1.10 to 1.00, and (B) Pro
Forma Availability shall be greater than or equal to 20% of the Aggregate Commitments for each day during the 30 day period prior to such Restricted Payment and immediately after making such Restricted Payment. 

8.07 Change in Nature of Business. Engage in any material line of business that is not a Core Business. 

8.08 Transactions with Affiliates. Enter into any transaction of any kind with any Affiliate of the Company, whether or not in the
Ordinary Course of Business, other than (a) transactions on fair and reasonable terms substantially as favorable to such Borrower or such Subsidiary as would be obtainable by such Borrower or such Subsidiary at the time in a comparable
arm’s length transaction with a Person other than an Affiliate, (b) the consummation by such Borrower and its Subsidiaries of the transactions effected by the Loan Documents, (c) any employment arrangement entered into by such
Borrower or any of its Subsidiaries in the Ordinary Course of Business and consistent with the past practices of such Borrower or such Subsidiary, (d) transactions between or among the Borrowers and their Restricted Subsidiaries or between or
among Restricted Subsidiaries, in each case to the extent permitted under the terms of the Loan Documents, (e) the declaration and payment of dividends and the making of distributions to all holders of any class of capital stock of the Company
or any of its Restricted Subsidiaries to the extent otherwise permitted under Section 8.06, (f) the Tax Sharing Agreement, and (g) shared service arrangements entered into in the Ordinary Course of Business and allocating
expenses and fees reasonably in accordance with the services provided. 
 8.09 Burdensome Agreements. Enter into any
Contractual Obligation (other than this Agreement or any other Loan Document) that: 
 (a) requires the grant of a Lien to
secure an obligation of such Person if a Lien is granted to secure another obligation of such Person, except any such provision contained in (i) the Subordinated Notes Indenture or the Senior Notes Indenture to the extent such provision does
not require such a grant of a Lien to secure the Subordinated Notes or the Senior Notes if a Lien is granted securing the Obligations, or (ii) the document evidencing any Second Lien Obligations; or 

 

 114 

 (b) limits the ability (i) of any Restricted Subsidiary to make Restricted Payments to
the Company or any Borrower or to otherwise transfer property to the Company or any Borrower other than customary restrictions required in connection with (x) financings permitted by this Agreement, the limitations of which are no more
restrictive than the corresponding limitations applicable to the Borrowers hereunder, and (y) Dispositions permitted by this Agreement and which limitations cover only such assets or Person(s) which are the subject matter of such Dispositions
and, prior to such Disposition, permit the Liens granted under the Loan Documents therein, and (ii) of any Restricted Subsidiary to Guarantee the Indebtedness of the Borrowers or become a direct Borrower hereunder, or (iii) of any Borrower
or any Restricted Subsidiary to create, incur, assume or suffer to exist Liens on property of such Person; provided, however, that this clause (iii) shall not prohibit: 

(A) a negative pledge contained in either (x) Indebtedness of any Restricted Subsidiary as of the date it becomes a
Restricted Subsidiary of the Company in any transaction otherwise permitted hereunder or (y) Indebtedness outstanding on the date hereof and listed on Schedule 8.03, in each case so long as such provision does not impair or conflict with
any Security Instrument or with Section 7.12 hereof; 
 (B) provisions limiting Liens on property as
may be contained in the terms of any Indebtedness permitted under Section 8.03(e) or (f) solely to the extent any such limitations relates to the property financed by or the subject of such Indebtedness; 

(C) provisions of any Law, order or agreement giving rise to a prior Lien permitted under Section 8.01(c),
(d), (e), (f), (h), (i), (n), (o), and (p) limiting Liens on property, and only on such property, subject to such prior Lien; and 

(D) such provisions as may be contained in any refinancing or replacing Indebtedness permitted under
Section 8.03, provided that the terms of such provisions shall be no less favorable to the Administrative Agent and the Lenders as were contained in the Indebtedness being refinanced or replaced. 

8.10 Use of Proceeds. Use the proceeds of any Credit Extension, whether directly or indirectly, and whether immediately,
incidentally or ultimately, in any manner that might cause the Credit Extension or the application of such proceeds to violate Regulations T, U or X of the FRB, in each case as in effect on the date or dates of such Credit Extension and such use of
proceeds. 
 8.11 Prepayment of Indebtedness; Amendment to Material Agreements. 

(a) Prepay, redeem, purchase, repurchase, defease or otherwise satisfy prior to the scheduled maturity thereof any Indebtedness that is
either subordinated to the Indebtedness hereunder or has a stated maturity date later than the Revolving Credit Maturity Date, or make any payment in violation of any subordination terms thereof, including in each case pursuant to any change of
control, sale of assets, issuance of any equity or otherwise as may be set forth in the terms thereof or available to the Borrowers at its option, except, so long as no Default or Event of Default shall exist prior to or immediately
thereafter, prepayments, redemptions, purchases, repurchases, defeasances or other satisfaction (collectively, a “Prepayment”) of: 
  

 115 

 (i) Indebtedness made with the proceeds of any Permitted Subordinated Debt;

 (ii) Indebtedness made with the proceeds of other Indebtedness permitted to be incurred pursuant to
Section 8.03 and containing terms and conditions (including terms of subordination, security and maturity) no less favorable in any material respect to the Administrative Agent and the Lenders than the Indebtedness being Prepaid
therewith; 
 (iii) other Indebtedness so long as prior to each such Prepayment the Borrower Agent has delivered
a certificate to the Administrative Agent demonstrating that (A) Pro Forma Availability shall be at least 25% of the Aggregate Commitments for each day during the 30 day period prior to such Prepayment and immediately after giving effect
thereto, or (B) if Pro Forma Availability shall not be at least 25% of the Aggregate Commitments for each day during the 30 day period prior to such Prepayment and immediately after giving effect thereto, (1) Pro Forma Availability shall
be at least 17.5% of the Aggregate Commitments for each day during the 30 day period prior to such Prepayment and immediately after giving effect thereto and (2) the Consolidated Fixed Charge Coverage Ratio as of the most recently ended
Measurement Period shall be at least 1.10 to 1.00. 
 (b) Amend, modify or change in any manner any term or condition of
(i) any Subordinated Note or the Subordinated Notes Indenture or the Senior Notes or the Senior Notes Indenture, (ii) any other Permitted Subordinated Debt Document, (iii) any documents, instruments and agreements delivered in
connection with Second Lien Obligations or any schedules, exhibits or agreements related thereto, or (iv) any Indebtedness with a stated maturity date outside the Revolving Credit Maturity Date, in each case so that the terms and conditions
thereof are less favorable in any material respect to the Administrative Agent and the Lenders than the terms of such Indebtedness as of the Closing Date, but in no event shall terms of recourse, guarantees or credit support be any less favorable to
the Administrative Agent or the Lenders than the terms of such Indebtedness as of the Closing Date. 
 8.12 Financial
Covenant. Permit the Consolidated Fixed Charge Coverage Ratio to be less than 1.10 to 1.00 determined as of (i) the last day of the Measurement Period most recently ended before the commencement of a Fixed Charge Trigger Period and
(ii) the last day of each Measurement Period thereafter ending during any Fixed Charge Trigger Period. 
 8.13
Acquisitions. Enter into any agreement, contract, binding commitment or other arrangement providing for any Acquisition, or take any action to solicit the tender of securities or proxies in respect thereof in order to effect any Acquisition, or
Consummate any Acquisition unless: 
 (a) the Person to be (or whose assets are to be) acquired does not oppose such Acquisition
and the line or lines of business of the Person to be acquired either (i) constitute Core Businesses or (ii) consist of the sales of products to the same end-markets served by the Company and its Subsidiaries; 

 

 116 

 (b) no Default or Event of Default shall have occurred and be continuing either immediately
prior to or immediately after giving effect to such Acquisition; 
 (c) after giving pro forma effect to such Acquisition and
all Indebtedness incurred or repaid in connection therewith, (i) Pro Forma Availability shall be at least 25% of the Aggregate Commitments for each day during the 30 day period prior to such Acquisition and immediately after giving effect
thereto, or (ii) if Pro Forma Availability shall not be at least 25% of the Aggregate Commitments for each day during the 30 day period prior to such Acquisition and immediately after giving effect thereto, (A) Pro Forma Availability shall
be at least 17.5% of the Aggregate Commitments for each day during the 30 day period prior to such Acquisition and immediately after giving effect thereto and (B) the Consolidated Fixed Charge Coverage Ratio (calculated on a pro forma basis
giving effect to such Acquisition and any Indebtedness incurred in connection therewith and any other relevant factor, all in accordance with Section 1.03(d) as of the most recently ended Measurement Period shall be at least 1.10 to
1.00; and 
 (d) the Borrower Agent shall have furnished to the Administrative Agent prior to the date on which any such
Acquisition is to be consummated, a certificate of a Responsible Officer of the Borrower Agent, in form and substance reasonably satisfactory to the Administrative Agent, (i) certifying that all of the requirements set forth above will be
satisfied on or prior to the consummation of such Acquisition and (ii) a reasonably detailed calculation of item (c) above (and such certificate shall be updated as necessary to make it accurate as of the date the Acquisition is
consummated). 
 Except as otherwise provided in the definitions of “Accounts Formula Amount” and “Inventory Formula
Amount”, none of the Accounts or Inventory of any Person acquired or created in an Acquisition shall be included in the calculation of the Borrowing Base until the Administrative Agent has conducted Field Exams and appraisals reasonably
required by it with results reasonably satisfactory to the Agent and the Person owning such Accounts or Inventory shall be a (directly or indirectly) wholly-owned Subsidiary of the Company and have become a Borrower. 

8.14 Creation of New Subsidiaries. Create or acquire any new Subsidiary after the Closing Date other than Restricted Subsidiaries
created or acquired in accordance with Section 7.12, provided that any Unrestricted Subsidiary may create a Subsidiary that is an Unrestricted Subsidiary. 

ARTICLE IX. 

EVENTS OF DEFAULT AND REMEDIES 

9.01 Events of Default. Any of the following shall constitute an Event of Default: 

(a) Non-Payment. Any Borrower fails to pay (i) when and as required to be paid herein, any amount of principal of any Loan or
any L/C Obligation, or (ii) within three days after the same becomes due, any interest on any Loan or on any L/C Obligation, or any commitment or other fee due hereunder, or (iii) within five days after the same becomes due, any other
amount payable hereunder or under any other Loan Document; or 
  

 117 

 (b) Specific Covenants. Any Borrower fails to perform or observe any term, covenant
or agreement contained (i) in any of Sections 7.03(a) or (b), 7.05 (other than with respect to the maintenance of good standing), 7.10, 7.11 or 7.12 or Article VIII, or (ii) in any of
Sections 3.02(a), 3.02(d), 7.02(b) or 7.07 and such failure referenced in this clause (ii) continues for three or more Business Days, or (iii) in Sections 7.01 or 7.02 (other than 7.02(b))
and such failure referenced in this clause (iii) continues for fifteen or more Business Days ; or 
 (c) Other
Defaults. Any Borrower fails to perform or observe any other covenant or agreement (not specified in subsection (a) or (b) above) contained in any Loan Document on its part to be performed or observed and such failure continues for 30
days after the earlier of (i) receipt of notice of such default by a Responsible Officer of the Borrower Agent from the Administrative Agent, or (ii) any Responsible Officer of the Borrower Agent becomes aware of such default; or

 (d) Representations and Warranties. Any representation, warranty, certification or statement of fact made or deemed
made by or on behalf of any Borrower herein, in any other Loan Document, or in any document delivered in connection herewith or therewith shall be incorrect or misleading when made or deemed made in any material respect; or 

(e) Cross-Default. (i) The Company, any Restricted Subsidiary or any other Borrower (A) fails to make any payment when
due (whether by scheduled maturity, required prepayment, acceleration, demand, or otherwise, and after passage of any grace period) in respect of any Indebtedness or Guarantee (other than Indebtedness hereunder and Indebtedness under Swap Contracts)
having an aggregate principal amount (including undrawn committed or available amounts and including amounts owing to all creditors under any combined or syndicated credit arrangement) of more than $25,000,000, or (B) fails to observe or
perform any other agreement or condition relating to any such Indebtedness or Guarantee or contained in any instrument or agreement evidencing, securing or relating thereto, or any other event occurs, and such default continues for more than the
period of grace, if any, therein specified, the effect of which default or other event is to cause, or to permit the holder or holders of such Indebtedness or the beneficiary or beneficiaries of such Guarantee (or a trustee or agent on behalf of
such holder or holders or beneficiary or beneficiaries) to cause, with the giving of notice if required, such Indebtedness to be demanded or to become due or to be repurchased, prepaid, defeased or redeemed (automatically or otherwise), or an offer
to repurchase, prepay, defease or redeem such Indebtedness to be made, prior to its stated maturity, or such Guarantee to become payable or cash collateral in respect thereof to be demanded; or (ii) there occurs under any Swap Contract an Early
Termination Date (as defined in such Swap Contract) resulting from (A) any event of default under such Swap Contract as to which the Company, any Restricted Subsidiary or any other Borrower is the Defaulting Party (as defined in such Swap
Contract) or (B) any Termination Event (as so defined) under such Swap Contract as to which the Company, any Restricted Subsidiary or any other Borrower is an Affected Party (as so defined) and, in either event, the Swap Termination Value owed
by the company, any Restricted Subsidiary or any other Borrower as a result thereof is greater than $25,000,000; 
 (f)
Insolvency Proceedings, Etc. The Company, any Restricted Subsidiary or any other Borrower institutes or consents to the institution of any proceeding under any Debtor Relief Law, or makes an assignment for the benefit of creditors; or applies
for or consents to the 
  

 118 

 
appointment of any receiver, trustee, custodian, conservator, liquidator, rehabilitator or similar officer for it or for all or any material part of its property; or any receiver, trustee,
custodian, conservator, liquidator, rehabilitator or similar officer is appointed without the application or consent of such Person and the appointment continues undischarged or unstayed for 60 calendar days; or any proceeding under any Debtor
Relief Law relating to any such Person or to all or any material part of its property is instituted without the consent of such Person and continues undismissed or unstayed for 60 calendar days, or an order for relief is entered in any such
proceeding; or 
 (g) Inability to Pay Debts; Attachment. (i) The Company, any Restricted Subsidiary or any
other Borrower becomes unable or admits in writing its inability or fails generally to pay its debts as they become due, (ii) any writ or warrant of attachment or execution or similar process is issued or levied against all or any material part
of the property of any such Person and is not released, vacated or fully bonded within 30 days after its issue or levy; (iii) the Borrowers are enjoined or in any way prevented by any Governmental Authority from conducting all or substantially
all of the business of the Borrowers taken as a whole for a period in excess of 30 days; or (iv) the Borrowers otherwise cease or suspend operation of or liquidate, or take any action to cease or suspend operation of or liquidate, all or
substantially all of the business of the Borrowers taken as a whole; or 
 (h) Judgments. There is entered against the
Company, any Restricted Subsidiary or any other Borrower (i) one or more final judgments or orders for the payment of money in an aggregate amount exceeding $20,000,000 (to the extent not covered by (A) insurance provided by a Person
described in Section 7.07 as to which the insurer does not dispute coverage or (B) the Tyco Indemnity to the extent Tyco has not disputed its indemnity obligation), or (ii) any one or more non-monetary final judgments that
have, or would reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect and, in either case, such judgment or order remains unvacated and unpaid and either (A) enforcement proceedings are commenced by any
creditor upon such judgment or order, or (B) there is a period of 30 consecutive days during which a stay of enforcement of such judgment, by reason of a pending appeal or otherwise, is not in effect; or 

(i) ERISA. (i) An ERISA Event occurs with respect to a Pension Plan or Multiemployer Plan which has resulted or would
reasonably be expected to result in liability of the Company under Title IV of ERISA to the Pension Plan, Multiemployer Plan or the PBGC in an amount that could reasonably be expected to have a Material Adverse Effect, or (ii) the Company or
any ERISA Affiliate fails to pay when due, after the expiration of any applicable grace period, any installment payment with respect to its withdrawal liability under Section 4201 of ERISA under a Multiemployer Plan in an amount that could
reasonably be expected to have a Material Adverse Effect; or (iii) the benefit liabilities of all Plans governed by Foreign Benefit Laws, or the funding of which are regulated by any Foreign Benefit Laws, at any time exceed all such Plans’
assets, as computed in accordance with applicable law as of the most recent valuation date for such Plans in a manner that could reasonably be expected to have a Material Adverse Effect; or 

(j) Invalidity of Loan Documents. Any Loan Document, or any Lien granted thereunder, at any time after its execution and delivery
and for any reason other than as expressly 
  

 119 

 
permitted hereunder or satisfaction in full of all the Obligations, ceases to be in full force and effect (except with respect to immaterial assets); or any Borrower or any other Person contests
in any manner the validity or enforceability of any Loan Document or any Lien granted to the Administrative Agent pursuant to the Security Instruments; or any Borrower denies that it has any or further liability or obligation under any Loan
Document, or purports to revoke, terminate or rescind any Loan Document; or 
 (k) Permitted Subordinated Debt. The
subordination provisions relating to any Permitted Subordinated Debt or any Second Lien Obligations (the “Subordination Provisions”) shall fail to be enforceable by the Lenders (which have not effectively waived the benefits
thereof) in accordance with the terms thereof, or the principal or interest on any Loan, any L/C Obligation or other Obligations shall fail to constitute “designated senior debt” (or any other similar term) under any document, instrument
or agreement evidencing such Permitted Subordinated Debt or Second Lien Obligations; or the Company or any of its Subsidiaries shall, directly or indirectly, disavow or contest in any manner (i) the effectiveness, validity or enforceability of
any of the Subordination Provisions, or (ii) that any of such Subordination Provisions exist for the benefit of the Secured Parties; or 

(l) Change of Control. There occurs any Change of Control. 

9.02 Remedies Upon Event of Default. If any Event of Default occurs and is continuing, the Administrative Agent shall, at the
request of, or may, with the consent of, the Required Lenders, take any or all of the following actions: 
 (a) declare the
commitment of each Lender to make Loans and any obligation of the L/C Issuer to make L/C Credit Extensions to be terminated, whereupon such commitments and obligation shall be terminated; 

(b) declare the unpaid principal amount of all outstanding Loans, all interest accrued and unpaid thereon, and all other amounts owing or
payable hereunder or under any other Loan Document to be immediately due and payable, without presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived by the Borrowers; 

(c) require that the Borrowers Cash Collateralize the L/C Obligations (in an amount equal to the then Outstanding Amount thereof); and

 (d) exercise on behalf of itself and the Lenders all rights and remedies available to it and the Lenders under the Loan
Documents or applicable Law; 
 provided, however, that upon the occurrence of an actual or deemed entry of an order for relief
with respect to any Borrower under the Bankruptcy Code of the United States, the obligation of each Lender to make Loans and any obligation of the L/C Issuer to make L/C Credit Extensions shall automatically terminate, the unpaid principal amount of
all outstanding Loans and all interest and other amounts as aforesaid shall automatically become due and payable, and the obligation of the Borrowers to Cash Collateralize the L/C Obligations as aforesaid shall automatically become effective, in
each case without further act of the Administrative Agent or any Lender. 
  

 120 

 9.03 Application of Funds. 

(a) After the exercise of remedies provided for in Section 9.02 (or after the Loans have automatically become immediately due
and payable and the L/C Obligations have automatically been required to be Cash Collateralized as set forth in the proviso to Section 9.02), any amounts received on account of the Obligations shall, subject to the provisions of
Sections 2.17 and 2.18, be applied by the Administrative Agent in the following order: 
 First, to payment
of that portion of the Obligations constituting fees, indemnities, expenses and other amounts (including reasonable fees, charges and disbursements of counsel to the Administrative Agent and amounts payable under Article IV) payable to the
Administrative Agent in its capacity as such; 
 Second, to payment of that portion of the Obligations constituting fees,
indemnities and other amounts (other than principal, interest, Letter of Credit Fees and other Obligations expressly described in clauses Third through Fifth below) payable to the Lenders and the L/C Issuer (including reasonable fees,
charges and disbursements of counsel to the respective Lenders and the L/C Issuer and amounts payable under Article IV), ratably among them in proportion to the respective amounts described in this clause Second payable to them;

 Third, to payment of that portion of the Obligations constituting accrued and unpaid Letter of Credit Fees and
interest on the Loans, L/C Borrowings and other Obligations, ratably among the Lenders and the L/C Issuer in proportion to the respective amounts described in this clause Third payable to them; 

Fourth, to (i) the payment of that portion of the Obligations constituting unpaid principal of the Loans and L/C Borrowings
(ratably among the Lenders and the L/C Issuer in proportion to the respective amounts held by them), (ii) the payment of Secured Related Credit Obligations arising under Related Swap Contracts (to the Lenders party (either directly or through
an Affiliate) to such Related Swap Contracts), and (iii) to Cash Collateralize that portion of L/C Obligations comprising the aggregate undrawn amount of Letters of Credit to the extent not otherwise Cash Collateralized by the Borrowers
pursuant to Sections 2.04 and 2.17, to the Administrative Agent for the account of the L/C Issuer; provided that if the amounts available are insufficient to make all payments provided for in this clause Fourth, that
portion allocable to clause (iii) shall be applied first to pay Outstanding Amounts of Revolving Loans, L/C Borrowings and Secured Related Credit Obligations arising under Related Swap Contracts before being utilized to Cash Collateralize L/C
Obligations; 
 Fifth, to payment of Secured Related Credit Obligations other than those arising under Related Swap
Contracts; 
 Sixth, to the payment of all other Obligations of the Borrowers owing under or in respect of the Loan
Document that are due and payable to the Administrative Agent and the other Secured Parties, or any of them, on such date, ratably based on the respective aggregate amounts of all such Obligations owing to the Administrative Agent and the other
Secured Parties on such date; and 
  

 121 

 Last, the balance, if any, after all of the Obligations have been indefeasibly paid
in full, to the Borrowers or as otherwise required by Law. 
 (b) Subject to Sections 2.04(c) and 2.17, amounts
used to Cash Collateralize the aggregate undrawn amount of Letters of Credit pursuant to clause Fourth above shall be applied to satisfy drawings under such Letters of Credit as they occur. If any amount remains on deposit as Cash Collateral
after all Letters of Credit have either been fully drawn or expired, such remaining amount shall be applied to the other Obligations, if any, in the order set forth above. Amounts distributed with respect to any Secured Related Credit Obligations
shall be the lesser of the maximum Secured Related Credit Obligations last reported to the Administrative Agent or the actual Secured Related Credit Obligations as calculated by the methodology reported to the Administrative Agent for determining
the amount due. The Administrative Agent shall have no obligation to calculate the amount to be distributed with respect to any Secured Related Credit Obligations, and may request a reasonably detailed calculation of such amount from the applicable
Secured Party. If a Secured Party fails to deliver such calculation within five days following request by the Administrative Agent, the Administrative Agent may assume the amount to be distributed is zero. The allocations set forth in this
Section 9.03(b) are solely to determine the rights and priorities of Administrative Agent and Secured Parties as among themselves, and may be changed by agreement among them without the consent of any Borrower. This
Section 9.03(b) is not for the benefit of or enforceable by any Borrower. 
 (c) Administrative Agent shall not be
liable for any application of amounts made by it in good faith under this Section 9.03 and, if any such application is subsequently determined to have been made in error, the sole recourse of any Lender or other Person to which such
amount should have been made shall be to recover the amount from the Person that actually received it (and, if such amount was received by any Lender, such Lender hereby agrees to return it). 

ARTICLE X. 

ADMINISTRATIVE AGENT 

10.01 Appointment and Authority. Each of the Lenders and the L/C Issuer hereby irrevocably appoints Bank of America to act on its
behalf as the Administrative Agent hereunder and under the other Loan Documents and authorizes the Administrative Agent to take such actions on its behalf and to exercise such powers as are delegated to the Administrative Agent by the terms hereof
or thereof, together with such actions and powers as are reasonably incidental thereto. The provisions of this Article are solely for the benefit of the Administrative Agent, the Lenders and the L/C Issuer, and neither the Company nor any other
Borrower shall have rights as a third party beneficiary of any of such provisions. Administrative Agent alone shall be authorized to determine whether any Accounts or Inventory constitute Eligible Accounts or Eligible Inventory, or whether to impose
or release any Reserve (in each case, pursuant to the terms of this Agreement), or whether any conditions to funding any Loan or to issuance of a Letter of Credit have been satisfied, which determinations and judgments, if exercised in good faith,
shall exonerate Administrative Agent from liability to any Lender or other Person for any error in judgment or mistake. 
  

 122 

 10.02 Rights as a Lender. The Person serving as the Administrative Agent hereunder
shall have the same rights and powers in its capacity as a Lender as any other Lender and may exercise the same as though it were not the Administrative Agent and the term “Lender” or “Lenders” shall, unless otherwise expressly
indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity. Such Person and its Affiliates may accept deposits from, lend money to, act as the financial advisor or
in any other advisory capacity for and generally engage in any kind of business with the Company or any Subsidiary or other Affiliate thereof as if such Person were not the Administrative Agent hereunder and without any duty to account therefor to
the Lenders. 
 10.03 Exculpatory Provisions. The Administrative Agent shall not have any duties or obligations except
those expressly set forth herein and in the other Loan Documents. Without limiting the generality of the foregoing, the Administrative Agent: 

(a) shall not be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is continuing;

 (b) shall not have any duty to take any discretionary action or exercise any discretionary powers, except discretionary
rights and powers expressly contemplated hereby or by the other Loan Documents that the Administrative Agent is required to exercise as directed in writing by the Required Lenders (or such other number or percentage of the Lenders as shall be
expressly provided for herein or in the other Loan Documents), provided that the Administrative Agent shall not be required to take any action that, in its opinion or the opinion of its counsel, may expose the Administrative Agent to
liability or that is contrary to any Loan Document or applicable law; and 
 (c) shall not, except as expressly set forth herein
and in the other Loan Documents, have any duty to disclose, and shall not be liable for the failure to disclose, any information relating to the Company or any of its Affiliates that is communicated to or obtained by the Person serving as the
Administrative Agent or any of its Affiliates in any capacity. 
 The Administrative Agent shall not be liable for any action
taken or not taken by it (i) with the consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary, or as the Administrative Agent shall believe in good faith shall be necessary,
under the circumstances as provided in Sections 11.01 and 9.02) or (ii) in the absence of its own gross negligence or willful misconduct. The Administrative Agent shall be deemed not to have knowledge of any Default unless and
until notice describing such Default is given to the Administrative Agent by the Borrower Agent, a Lender or the L/C Issuer. 

The Administrative Agent shall not be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or
representation made in or in connection with this Agreement or any other Loan Document, (ii) the contents of any certificate, report or other document delivered hereunder or thereunder or in connection herewith or therewith, (iii) the
performance or observance of any of the covenants, agreements or other terms or conditions set forth herein or therein or the occurrence of any Default, (iv) the validity, enforceability, effectiveness or genuineness of this Agreement, any
other Loan Document or any other agreement, instrument or document or (v) the satisfaction of any condition set forth in Article V  

 

 123 

 
or elsewhere herein, other than to confirm receipt of items expressly required to be delivered to the Administrative Agent. 

10.04 Reliance by Administrative Agent. The Administrative Agent shall be entitled to rely upon, and shall not incur any liability
for relying upon, any notice, request, certificate, consent, statement, instrument, document or other writing (including any electronic message, Internet or intranet website posting or other distribution) believed by it to be genuine and to have
been signed, sent or otherwise authenticated by the proper Person. The Administrative Agent also may rely upon any statement made to it orally or by telephone and believed by it to have been made by the proper Person, and shall not incur any
liability for relying thereon. In determining compliance with any condition hereunder to the making of a Loan, or the issuance of a Letter of Credit that by its terms must be fulfilled to the satisfaction of a Lender or the L/C Issuer, the
Administrative Agent may presume that such condition is satisfactory to such Lender or the L/C Issuer unless the Administrative Agent shall have received notice to the contrary from such Lender or the L/C Issuer prior to the making of such Loan or
the issuance of such Letter of Credit. The Administrative Agent may consult with legal counsel (who may be counsel for the Borrowers), 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. 
 10.05 Delegation of Duties. The
Administrative Agent may perform any and all of its duties and exercise its rights and powers hereunder or under any other Loan Document by or through any one or more sub-agents appointed by the Administrative Agent. The Administrative Agent and any
such sub-agent may perform any and all of its duties and exercise its rights and powers by or through their respective Related Parties. The exculpatory provisions of this Article shall apply to any such sub-agent and to the Related Parties of the
Administrative Agent and any such sub-agent, and shall apply to their respective activities in connection with the syndication of the credit facilities provided for herein as well as activities as Administrative Agent. 

10.06 Resignation of Administrative Agent. The Administrative Agent may at any time give notice of its resignation to the Lenders,
the L/C Issuer and the Borrower Agent. Upon receipt of any such notice of resignation, the Required Lenders shall have the right, in consultation with the Borrower Agent, to appoint a successor, which shall be a bank with an office in the United
States, or an Affiliate of any such bank with an office in the United States. If no such 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 and the L/C Issuer, appoint a successor Administrative Agent meeting the qualifications set forth above; provided that if the Administrative
Agent shall notify the Borrower Agent and the Lenders that no qualifying Person has accepted such appointment, then such resignation shall nonetheless become effective in accordance with such notice and (1) the retiring Administrative Agent
shall be discharged from its duties and obligations hereunder and under the other Loan Documents (except that in the case of any Collateral held by the Administrative Agent on behalf of the Lenders or the L/C Issuer under any of the Loan Documents,
the retiring Administrative Agent shall continue to hold such Collateral until such time as a successor Administrative Agent is appointed) and (2) all payments, communications and determinations provided to be made by, to or through the
Administrative Agent shall instead be made by or to each Lender and the L/C 
  

 124 

 
Issuer directly, until such time as the Required Lenders appoint a successor Administrative Agent as provided for above in this Section. Upon the acceptance of a successor’s appointment as
Administrative Agent hereunder, such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring (or retired) Administrative Agent, and the retiring Administrative Agent shall be discharged from
all of its duties and obligations hereunder or under the other Loan Documents (if not already discharged therefrom as provided above in this Section). The fees payable by the Borrowers to a successor Administrative Agent shall be the same as those
payable to its predecessor unless otherwise agreed between the Borrowers and such successor. After the retiring Administrative Agent’s resignation hereunder and under the other Loan Documents, the provisions of this Article and
Section 11.04 shall continue in effect for the benefit of such retiring Administrative Agent, its sub-agents and their respective Related Parties in respect of any actions taken or omitted to be taken by any of them while the retiring
Administrative Agent was acting as Administrative Agent. 
 Any resignation by Bank of America as Administrative Agent pursuant
to this Section shall also constitute its resignation as L/C Issuer and Swing Line Lender. Upon the acceptance of a successor’s appointment as Administrative Agent hereunder, (a) such successor shall succeed to and become vested with all
of the rights, powers, privileges and duties of the retiring L/C Issuer and Swing Line Lender, (b) the retiring L/C Issuer and Swing Line Lender shall be discharged from all of their respective duties and obligations hereunder or under the
other Loan Documents, and (c) the successor L/C Issuer shall issue letters of credit in substitution for the Letters of Credit, if any, outstanding at the time of such succession or make other arrangements satisfactory to the retiring L/C
Issuer to effectively assume the obligations of the retiring L/C Issuer with respect to such Letters of Credit. 
 10.07
Non-Reliance on Administrative Agent and Other Lenders. Each Lender and the L/C Issuer acknowledges that it has, independently and without reliance upon the Administrative Agent or any other Lender or any of their Related Parties and based on
such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement. Each Lender and the L/C Issuer also acknowledges that it will, independently and without reliance upon the
Administrative Agent or any other Lender or any of their Related Parties and based on such documents and information as it shall from time to time deem appropriate, continue to make its own decisions in taking or not taking action under or based
upon this Agreement, any other Loan Document or any related agreement or any document furnished hereunder or thereunder. 

10.08 No Other Duties, Etc. Anything herein to the contrary notwithstanding, none of the Bookrunners, Arrangers,
Syndication Agent or Co-Documentation Agents listed on the cover page hereof shall have any powers, duties or responsibilities under this Agreement or any of the other Loan Documents, except in its capacity, as applicable, as the Administrative
Agent, a Lender or the L/C Issuer hereunder. 
 10.09 Administrative Agent May File Proofs of Claim. In case of
the pendency of any receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment, composition or other judicial proceeding relative to any Borrower, the Administrative Agent (irrespective of whether the principal of any
Loan or L/C Obligation shall then be due and payable as herein expressed or by declaration or otherwise and irrespective of whether the 

 

 125 

 
Administrative Agent shall have made any demand on the Borrowers) shall be entitled and empowered, by intervention in such proceeding or otherwise 

(a) to file and prove a claim for the whole amount of the principal and interest owing and unpaid in respect of the Loans, L/C
Obligations and all other Obligations that are owing and unpaid and to file such other documents as may be necessary or advisable in order to have the claims of the Lenders, the L/C Issuer and the Administrative Agent (including any claim for the
reasonable compensation, expenses, disbursements and advances of the Lenders, the L/C Issuer and the Administrative Agent and their respective agents and counsel and all other amounts due the Lenders, the L/C Issuer and the Administrative Agent
under Sections 2.04(h) and (i), 2.10 and 11.04) allowed in such judicial proceeding; and 
 (b) to
collect and receive any monies or other property payable or deliverable on any such claims and to distribute the same; 
 and any custodian,
receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Lender and the L/C Issuer to make such payments to the Administrative Agent and, in the event that the
Administrative Agent shall consent to the making of such payments directly to the Lenders and the L/C Issuer, to pay to the Administrative Agent any amount due for the reasonable compensation, expenses, disbursements and advances of the
Administrative Agent and its agents and counsel, and any other amounts due the Administrative Agent under Sections 2.10 and 11.04. 

Nothing contained herein shall be deemed to authorize the Administrative Agent to authorize or consent to or accept or adopt on behalf of
any Lender or the L/C Issuer any plan of reorganization, arrangement, adjustment or composition affecting the Obligations or the rights of any Lender or to authorize the Administrative Agent to vote in respect of the claim of any Lender in any such
proceeding. 
 10.10 Collateral Matters. The Lenders and the L/C Issuer irrevocably authorize the Administrative
Agent, at its option and in its discretion, 
 (a) to release any Lien on any Collateral (i) upon the occurrence of the
Facility Termination Date, (ii) that is Disposed or to be Disposed as part of or in connection with any Disposition permitted hereunder or under any other Loan Document, (iii) as provided in Section 7.15(c) with respect to
Subsidiaries that become Unrestricted Subsidiaries in accordance with the terms of this Agreement, or (iv) subject to Section 11.01, if approved, authorized or ratified in writing by the Required Lenders; 

(b) to subordinate any Lien on any property granted to or held by the Administrative Agent under any Loan Document to the holder of any
Lien on such property that is permitted by Section 8.01(j); and 
 (c) to release any Restricted Subsidiary that is
a Borrower from its obligations under the Loan Documents if such Person ceases to be a Restricted Subsidiary as a result of a transaction permitted hereunder (including pursuant to its designation as an Unrestricted Subsidiary in compliance with the
terms hereof, including Section 7.15). 
  

 126 

 Upon request by the Administrative Agent at any time, the Required Lenders will confirm in
writing the Administrative Agent’s authority to release or subordinate its interest in particular types or items of property, or to release any Borrower from its obligations under the Loan Documents pursuant to this Section 10.10.

 10.11 Other Collateral Matters. 

(a) Care of Collateral. The Administrative Agent shall have no obligation to assure that any Collateral exists or is owned by a
Borrower, or is cared for, protected or insured, nor to assure that the Administrative Agent’s Liens have been properly created, perfected or enforced, or are entitled to any particular priority, nor to exercise any duty of care with respect to
any Collateral. 
 (b) Lenders as Agent For Perfection by Possession or Control. The Administrative Agent and Secured
Parties appoint each Lender as agent (for the benefit of Secured Parties) for the purpose of perfecting Liens in any Collateral held or controlled by such Lender, to the extent such Liens are perfected by possession or control. If any Lender obtains
possession or control of any Collateral, it shall notify the Administrative Agent thereof and, promptly upon Administrative Agent’s request, deliver such Collateral to Administrative Agent or otherwise deal with it in accordance with
Administrative Agent’s instructions. 
 (c) Reports. The Administrative Agent shall promptly forward to each Lender,
when complete, copies of any Field Exam or appraisal report prepared by or for the Administrative Agent with respect to any Borrower or Collateral (“Report”). Each Lender agrees (a) that neither Bank of America nor the
Administrative Agent makes any representation or warranty as to the accuracy or completeness of any Report, and shall not be liable for any information contained in or omitted from any Report; (b) that the Reports are not intended to be
comprehensive audits or examinations, and that the Administrative Agent or any other Person performing any audit or examination will inspect only specific information regarding Obligations or the Collateral and will rely significantly upon
Borrowers’ books and records as well as upon representations of Borrowers’ officers and employees; and (c) to keep all Reports confidential and strictly for such Lender’s internal use, and not to distribute any Report (or the
contents thereof) to any Person (except to such Lender’s Participants, attorneys and accountants) or use any Report in any manner other than administration of the Loans and other Obligations. Each Lender shall indemnify and hold harmless the
Administrative Agent and any other Person preparing a Report from any action such Lender may take as a result of or any conclusion it may draw from any Report, as well as from any all losses, claims, damages, liabilities and related expenses (except
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 the
Administrative Agent) arising as a direct or indirect result of the Administrative Agent furnishing a Report to such Lender. 

10.12 Related Credit Providers. Each Secured Related Credit Provider, by delivery of a notice to Administrative Agent of the
creation of a Related Credit Arrangement, agrees to be bound by Section 9.03 and this Article X. Each Secured Related Credit Provider shall indemnify and hold harmless Agent Indemnitees, to the extent not reimbursed by Borrowers,
against all losses, claims, damages, liabilities or related expenses that may be incurred by or asserted 
  

 127 

 
against any Agent Indemnitee in connection with such provider’s Secured Related Credit Obligations. 

ARTICLE XI. 

MISCELLANEOUS 

11.01 Amendments, Etc. No amendment or waiver of any provision of this Agreement or any other Loan Document, and no consent to any
departure by the Borrowers therefrom, shall be effective unless in writing signed by the Required Lenders and the Borrowers, and acknowledged by the Administrative Agent, and each such waiver or consent shall be effective only in the specific
instance and for the specific purpose for which given; provided, however, that no such amendment, waiver or consent shall: 

(a) waive any condition set forth in (i) Section 5.01(a) (except to the extent otherwise provided for in
Section 5.01(a)) or, (ii) in the case of the initial Credit Extension, Section 5.02, in each case without the written consent of each Lender; 

(b) extend or increase the Revolving Credit Commitment of any Revolving Lender (or reinstate any Revolving Credit Commitment terminated
pursuant to Section 9.02) without the written consent of such Revolving Lender; 
 (c) postpone any date fixed by
this Agreement or any other Loan Document for any payment of principal, interest, fees or other amounts due to the Lenders (or any of them), including the Revolving Credit Maturity Date, or any scheduled reduction of the Aggregate Commitments
hereunder or under any other Loan Document, in each case without the written consent of each Lender directly affected thereby; 

(d) reduce the principal of, or the rate of interest specified herein on, any Loan or L/C Borrowing, or (subject to clause (v) of
the second proviso to this Section 11.01) any fees or other amounts payable hereunder or under any other Loan Document, without the written consent of each Lender directly affected thereby; provided, however, that only the
consent of the Required Lenders shall be necessary (i) to amend the definition of “Default Rate” (so long as such amendment does not result in the Default Rate being lower than the interest rate then applicable to Base Rate Loans or
Eurocurrency Rate Loans, as applicable) or to waive any obligation of the Borrowers to pay interest or Letter of Credit Fees at the Default Rate or (ii) to amend any financial covenant hereunder (or any defined term used therein); 

(e) change Section 2.14 or Section 9.03 in a manner that would alter the pro rata sharing of payments required
thereby without the written consent of each Lender directly affected thereby; 
 (f) change any provision of this Section or the
definition of “Required Lenders” or any other provision hereof specifying the number or percentage of Lenders required to amend, waive or otherwise modify any rights hereunder or make any determination or grant any consent hereunder,
without the written consent of each Lender; 
 (g) release any material Borrower from the this Agreement or any material
Security Instrument to which it is a party without the written consent of each Lender, except to the extent 
  

 128 

 
such Borrower is the subject of a Disposition permitted by Section 8.05 (in which case such release may be made by the Administrative Agent acting alone); 

(h) release all or substantially all of the Collateral without the written consent of each Lender except with respect to Dispositions and
releases of Collateral permitted or required hereunder (including pursuant to Section 8.05) or as provided in the other Loan Documents (in which case such release may be made by the Administrative Agent acting alone); or 

(i) without the prior written consent of all Lenders, amend the definition of “Borrowing Base”, “Accounts Formula
Amount” (including any advance rate therein), “Inventory Formula Amount” (including any advance rate therein), “Eligible Inventory”, “Eligible Accounts” or “Loan Cap” in a manner that would increase the
availability; provided that the foregoing shall not limit the discretion of the Administrative Agent to change, establish or eliminate any Reserves; 

and, provided further, that (i) no amendment, waiver or consent shall, unless in writing and signed by the L/C Issuer in addition to
the Lenders required above, affect the rights or duties of the L/C Issuer under this Agreement or any Issuer Document relating to any Letter of Credit issued or to be issued by it; (ii) no amendment, waiver or consent shall, unless in writing
and signed by the Swing Line Lender in addition to the Lenders required above, affect the rights or duties of the Swing Line Lender under this Agreement; (iii) no amendment, waiver or consent shall, unless in writing and signed by the
Administrative Agent in addition to the Lenders required above, affect the rights or duties of the Administrative Agent under this Agreement or any other Loan Document; (iv) Section 11.06(h) may not be amended, waived or otherwise
modified without the consent of each Granting Lender all or any part of whose Loans are being funded by an SPC at the time of such amendment, waiver or other modification; (v) the Fee Letter may be amended, or rights or privileges thereunder
waived, in a writing executed only by the respective parties thereto; (vi) no amendment, waiver or consent which has the effect of enabling the Borrowers to satisfy any condition to a Borrowing contained in Section 5.02 hereof
which, but for such amendment, waiver or consent would not be satisfied, shall be effective to require the Revolving Lenders, the Swing Line Lender or the L/C Issuer to make any additional Revolving Loan or Swing Line Loan, or to issue any
additional or renew any existing Letter of Credit, unless and until the Required Lenders (or, if applicable, all Revolving Lenders) shall have approved such amendment, waiver or consent. Notwithstanding anything to the contrary herein, no Defaulting
Lender shall have any right to approve or disapprove any amendment, waiver or consent hereunder (and any amendment, waiver or consent which by its terms requires the consent of all Lenders or each affected Lender may be effected with the consent of
the applicable Lenders other than Defaulting Lenders), except that (x) the Revolving Credit Commitment of any Defaulting Lender may not be increased or extended without the consent of such Lender and (y) any waiver, amendment or
modification requiring the consent of all Lenders or each affected Lender that by its terms affects any Defaulting Lender more adversely than other affected Lenders shall require the consent of such Defaulting Lender. 

Notwithstanding any provision herein to the contrary, this Agreement may be amended with the written consent of the Required Lenders, the
Administrative Agent and the Borrowers (i) to add one or more additional revolving credit or term loan facilities to this Agreement (as to which no Lender shall have any obligation to participate) and to permit the extensions of credit

  

 129 

 
and all related obligations and liabilities arising in connection therewith from time to time outstanding to share, on a last-out or subordinated basis to the existing facilities hereunder, in
the benefits of this Agreement and the other Loan Documents with the obligations and liabilities from time to time outstanding in respect of the existing facilities hereunder, and (ii) in connection with the foregoing, to permit, as deemed
appropriate by the Administrative Agent and approved by the Required Lenders, the Lenders providing such additional credit facilities to participate in any required vote or action required to be approved by the Required Lenders or by any other
number, percentage or class of Lenders hereunder. 
 11.02 Notices; Effectiveness; Electronic Communication.

 (a) Notices Generally. Except in the case of notices and other communications expressly permitted to be given by
telephone or in the case of notices otherwise expressly provided herein (and except as provided in subsection (b) below), all notices and other communications provided for herein shall be in writing and shall be delivered by hand or overnight
courier service, mailed by certified or registered mail or sent by telecopier as follows, and all notices and other communications expressly permitted hereunder to be given by telephone shall be made to the applicable telephone number, as follows:

 (i) if to a Borrower, the Administrative Agent, the L/C Issuer or the Swing Line Lender, to the address,
telecopier number, electronic mail address or telephone number specified for such Person on Schedule 11.02, as changed pursuant to subsection (d) below; and 

(ii) if to any other Lender, to the address, telecopier number, electronic mail address or telephone number specified in
its Administrative Questionnaire, as changed pursuant to subsection (d) below (including, as appropriate, notices delivered solely to the Person designated by a Lender on its Administrative Questionnaire then in effect for the delivery of
notices that may contain material non-public information relating to the Borrowers). 
 Notices sent by hand or overnight
courier service, or mailed by certified or registered mail, shall be deemed to have been given when received; notices sent by telecopier shall be deemed to have been given when sent (except that, if not given during normal business hours for the
recipient, shall be deemed to have been given at the opening of business on the next business day for the recipient). Notices delivered through electronic communications to the extent provided in subsection (b) below, shall be effective as
provided in such subsection (b). 
 (b) Electronic Communications. Notices and other communications to the Lenders and
the L/C Issuer hereunder may be delivered or furnished by electronic communication (including e-mail and Internet or intranet websites) pursuant to procedures approved by the Administrative Agent, provided that the foregoing shall not apply
to notices to any Lender or the L/C Issuer pursuant to Article II if such Lender or the L/C Issuer, as applicable, has notified the Administrative Agent that it is incapable of receiving notices under such Article by electronic communication.
The Administrative Agent or the Borrowers may, in its discretion, agree to accept notices and other communications to it hereunder by electronic communications pursuant 

 

 130 

 
to procedures approved by it, provided that approval of such procedures may be limited to particular notices or communications. 

Unless the Administrative Agent otherwise prescribes, (i) notices and other communications sent to an e-mail address shall be deemed
received upon the sender’s receipt of an acknowledgement from the intended recipient (such as by the “return receipt requested” function, as available, return e-mail or other written acknowledgement), provided that if such
notice or other communication is not sent during the normal business hours of the recipient, such notice or communication shall be deemed to have been sent at the opening of business on the next business day for the recipient, and (ii) notices
or communications posted to an Internet or intranet website shall be deemed received upon the deemed receipt by the intended recipient at its e-mail address as described in the foregoing clause (i) of notification that such notice or
communication is available and identifying the website address therefor. 
 (c) The Platform. THE PLATFORM IS PROVIDED
“AS IS” AND “AS AVAILABLE.” THE AGENT PARTIES (AS DEFINED BELOW) DO NOT WARRANT THE ACCURACY OR COMPLETENESS OF THE BORROWER MATERIALS OR THE ADEQUACY OF THE PLATFORM, AND EXPRESSLY DISCLAIM LIABILITY FOR ERRORS IN OR OMISSIONS
FROM THE BORROWER MATERIALS. NO WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY, INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF THIRD PARTY RIGHTS OR FREEDOM FROM VIRUSES OR OTHER CODE DEFECTS,
IS MADE BY ANY AGENT PARTY IN CONNECTION WITH THE BORROWER MATERIALS OR THE PLATFORM. In no event shall the Administrative Agent or any of its Related Parties (collectively, the “Agent Parties”) have any liability to any
Borrower, any Lender, the L/C Issuer or any other Person for losses, claims, damages, liabilities or expenses of any kind (whether in tort, contract or otherwise) arising out of a Borrower’s or the Administrative Agent’s transmission of
Borrower Materials through the Internet, except to the extent that such losses, claims, damages, liabilities or expenses are determined by a court of competent jurisdiction by a final and nonappealable judgment to have resulted from the gross
negligence or willful misconduct of such Agent Party; provided, however, that in no event shall any Agent Party have any liability to any Borrower, any Lender, the L/C Issuer or any other Person for indirect, special, incidental,
consequential or punitive damages (as opposed to direct or actual damages). 
 (d) Change of Address, Etc. Each of the
Borrower Agent, the other Borrowers, the Administrative Agent, the L/C Issuer and the Swing Line Lender may change its address, telecopier or telephone number for notices and other communications hereunder by notice to the other parties hereto. Each
other Lender may change its address, telecopier or telephone number for notices and other communications hereunder by notice to the Borrower Agent, the Administrative Agent, the L/C Issuer and the Swing Line Lender. In addition, each Lender agrees
to notify the Administrative Agent from time to time to ensure that the Administrative Agent has on record (i) an effective address, contact name, telephone number, telecopier number and electronic mail address to which notices and other
communications may be sent and (ii) accurate wire instructions for such Lender. Furthermore, 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 
  

 131 

 
Platform (a “Private Side Person”) 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 Borrower Materials 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 Company or its securities for purposes of United States Federal or state securities laws; provided that nothing in this Agreement shall be deemed to be a consent by any party hereto to any Private Side Person
providing any such Borrower Materials from the “Private Side” of the Platform that are not available on the “Public Side” of the Platform to any person at such Public Lender who has not been selected as a Private Side Person, or
otherwise acting in violation of the provisions of Section 11.07 with respect to any such Borrower Materials. 
 (e)
Reliance by Administrative Agent, L/C Issuer and Lenders. The Administrative Agent, the L/C Issuer and the Lenders shall be entitled to rely and act upon any notices (including telephonic Revolving Loan Notices and Swing Line Loan
Notices) purportedly given by or on behalf of the Borrowers even if (i) such notices were not made in a manner specified herein, were incomplete or were not preceded or followed by any other form of notice specified herein, or (ii) the
terms thereof, as understood by the recipient, varied from any confirmation thereof. The Borrowers shall indemnify the Administrative Agent, the L/C Issuer, each Lender and the Related Parties of each of them from all losses, costs, expenses and
liabilities resulting from the reliance by such Person on each notice purportedly given by or on behalf of the Borrowers. All telephonic notices to and other telephonic communications with the Administrative Agent may be recorded by the
Administrative Agent, and each of the parties hereto hereby consents to such recording. 
 11.03 No Waiver; Cumulative
Remedies. No failure by any Lender, the L/C Issuer or the Administrative Agent to exercise, and no delay by any such Person in exercising, any right, remedy, power or privilege hereunder shall operate as a waiver thereof; nor shall any
single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege. The rights, remedies, powers and privileges herein provided
are cumulative and not exclusive of any rights, remedies, powers and privileges provided by law. 
 Notwithstanding anything to the contrary
contained herein or in any other Loan Document, the authority to enforce rights and remedies hereunder and under the other Loan Documents against the Borrowers or any of them shall be vested exclusively in, and all actions and proceedings at law in
connection with such enforcement shall be instituted and maintained exclusively by, the Administrative Agent in accordance with Section 9.02 for the benefit of all the Lenders and the L/C Issuer; provided, however, that the
foregoing shall not prohibit (a) the Administrative Agent from exercising on its own behalf the rights and remedies that inure to its benefit (solely in its capacity as Administrative Agent) hereunder and under the other Loan Documents,
(b) the L/C Issuer from exercising the rights and remedies that inure to its benefit (solely in its capacity as L/C Issuer) hereunder and under the other Loan Documents, (c) any Lender from exercising setoff rights in accordance with
Section 11.08 (subject to the terms of Section 2.14), or (d) any Lender from filing proofs of claim or appearing and filing pleadings on its own behalf during the pendency of a proceeding relative to any Borrower under
any Debtor Relief Law; and provided, further, that if at any time there is no Person acting as Administrative Agent hereunder and under 

 

 132 

 
the other Loan Documents, then (i) the Required Lenders shall have the rights otherwise ascribed to the Administrative Agent pursuant to Section 9.02 and (ii) in addition to
the matters set forth in clauses (b), (c) and (d) of the preceding proviso and subject to Section 2.14, any Lender may, with the consent of the Required Lenders, enforce any rights and remedies available to
it and as authorized by the Required Lenders. 
 11.04 Expenses; Indemnity; Damage Waiver. 

(a) Costs and Expenses. The Borrowers shall pay (i) all reasonable out-of-pocket expenses incurred by the Administrative Agent
and its Affiliates and the Arrangers (including the reasonable fees, charges and disbursements of counsel for the Administrative Agent and the Arrangers), in connection with the syndication of the credit facilities provided for herein, the
preparation, negotiation, execution, delivery and administration of this Agreement and the other Loan Documents or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or
thereby shall be consummated), (ii) all reasonable out-of-pocket expenses incurred by the L/C Issuer in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and
(iii) all out-of-pocket expenses incurred by the Administrative Agent, each Lender, the L/C Issuer, the Swing Line Lender or the Arrangers (including the fees, charges and disbursements of any counsel for the Administrative Agent, the Lenders,
the Swing Line Lender, the L/C Issuer or the Arrangers), in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Section, or (B) in
connection with the Loans made or Letters of Credit issued hereunder, including all such out-of-pocket expenses incurred during any workout, restructuring or negotiations in respect of such Loans or Letters of Credit; provided,
however, that in the case of clause (i), (ii) and (iii) above, all costs and expenses of legal counsel shall be limited to one counsel for the Administrative Agent and one counsel for the Lenders and to the extent necessary, one
special or local counsel in each appropriate jurisdiction unless, in the reasonable opinion of any Lender, representation of all such Lenders would be inappropriate due to the existence of an actual or potential conflict of interest. 

(b) Indemnification by the Borrowers. Each Borrower shall indemnify the Administrative Agent (and any sub-agent thereof), each
Lender and the L/C Issuer, and each Related Party of any of the foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and all losses, claims, damages,
liabilities and related expenses (including the reasonable fees, charges and disbursements of any counsel for any Indemnitee), incurred by any Indemnitee or asserted against any Indemnitee by any third party or by the Borrowers or any other Borrower
arising out of, in connection with, or as a result of (i) the execution or delivery of this Agreement, any other Loan Document or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their
respective obligations hereunder or thereunder, the consummation of the transactions contemplated hereby or thereby or, in the case of the Administrative Agent (and any sub-agent thereof) and its Related Parties only, the administration of this
Agreement and the other Loan Documents (including in respect of any matters addressed in Section 4.01), (ii) any Loan or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by the L/C Issuer
to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of 

 

 133 

 
Credit), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrowers or any of its Subsidiaries, or any Environmental
Liability related in any way to the Borrowers or any of its Subsidiaries, or (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory,
whether brought by a third party or by the Borrowers or any other Borrower, and regardless of whether any Indemnitee is a party thereto; provided that such indemnity shall not, as to any Indemnitee, be available to the extent that such
losses, claims, damages, liabilities or related expenses (x) are determined by a court of competent jurisdiction by final and nonappealable judgment to have resulted from the gross negligence or willful misconduct of such Indemnitee or
(y) result from a claim brought by the Borrowers or any other Borrower against an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document, if such Borrower or such Borrower has
obtained a final and nonappealable judgment in its favor on such claim as determined by a court of competent jurisdiction. 

(c) Reimbursement by Lenders. To the extent that the Borrowers for any reason fail to indefeasibly pay any amount required under
subsection (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), the L/C Issuer or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or
any such sub-agent), the L/C Issuer or such Related Party, 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 based on such Lender’s portion
of Loans, commitments and risk participations with respect to the Revolving Credit Facility) 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 any such sub-agent) or the L/C Issuer in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent) or L/C
Issuer in connection with such capacity. The obligations of the Lenders under this subsection (c) are subject to the provisions of Section 2.13(e). 

(d) Waiver of Consequential Damages, Etc. To the fullest extent permitted by applicable law, the Borrowers shall not assert, and
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, any
other Loan Document or any agreement or instrument contemplated hereby, the transactions contemplated hereby or thereby, any Loan or Letter of Credit or the use of the proceeds thereof. No Indemnitee referred to in subsection (b) above shall be
liable for any damages arising from the use by unintended recipients of any information or other materials distributed by it through telecommunications, electronic or other information transmission systems in connection with this Agreement or the
other Loan Documents or the transactions contemplated hereby or thereby. 
 (e) Payments. All amounts due under this
Section shall be payable not later than ten Business Days after demand therefor. 
  

 134 

 (f) Survival. The agreements in this Section shall survive the resignation of the
Administrative Agent, the L/C Issuer and the Swing Line Lender, the replacement of any Lender and the occurrence of the Facility Termination Date. 

11.05 Marshalling; Payments Set Aside. None of Administrative Agent or Lenders shall be under any obligation to marshal any
assets in favor of any Borrower or against any Obligations. To the extent that any payment by or on behalf of any Borrower is made to the Administrative Agent, the L/C Issuer or any Lender, or the Administrative Agent, the L/C Issuer or any Lender
exercises its right of setoff, and such payment or the proceeds of such setoff or any part thereof is subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by
the Administrative Agent, the L/C Issuer or such Lender in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any proceeding under any Debtor Relief Law or otherwise, then (a) to the extent of such
recovery, the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such setoff had not occurred, and (b) each Lender and the L/C Issuer
severally agrees to pay to the Administrative Agent upon demand its applicable share (without duplication) of any amount so recovered from or repaid by the Administrative Agent, plus interest thereon from the date of such demand to the date
such payment is made at a rate per annum equal to the applicable Overnight Rate from time to time in effect, in the applicable currency of such recovery or payment. The obligations of the Lenders and the L/C Issuer under clause (b) of
the preceding sentence shall survive the occurrence of the Facility Termination Date. 
 11.06 Successors and Assigns.

 (a) Successors and Assigns Generally. The provisions of this Agreement shall be binding upon and inure to the
benefit of the parties hereto and their respective successors and assigns permitted hereby, except that the Borrowers may not assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of the
Administrative Agent and each Lender and no Lender may assign or otherwise transfer any of its rights or obligations hereunder except (i) to an Eligible Assignee in accordance with the provisions of subsection (b) of this Section,
(ii) by way of participation in accordance with the provisions of subsection (d) of this Section, (iii) by way of pledge or assignment of a security interest subject to the restrictions of subsection (f) of this Section, or
(iv) to an SPC in accordance with the provisions of subsection (h) of this Section (and any other attempted assignment or transfer by any party hereto shall be null and void). Nothing in this Agreement, expressed or implied, shall be
construed to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted hereby, Participants to the extent provided in subsection (d) of this Section and, to the extent expressly contemplated
hereby, the Related Parties of each of the Administrative Agent, the L/C Issuer and the Lenders) any legal or equitable right, remedy or claim under or by reason of this Agreement. 

(b) Assignments by Lenders. Any Lender may at any time assign to one or more Eligible Assignees all or a portion of its rights and
obligations under this Agreement (including all or a portion of its Revolving Credit Commitment and its Revolving Loans (including for purposes of this subsection (b), participations in L/C Obligations) at the time owing to it (such Lender’s
portion of Loans, commitments and risk participations with respect to each of the 
  

 135 

 
Revolving Credit Facility (each, an “Applicable Facility”) being referred to in this Section 11.06 as its “Applicable Share”)) at the
time owing to it); provided that 
 (i) except in the case of an assignment of the entire remaining amount
of the assigning Lender’s Applicable Share of the Applicable Facility at the time owing to it or in the case of an assignment to a Lender or an Affiliate of a Lender or an Approved Fund with respect to a Lender, the aggregate amount of the
Applicable Share (which for this purpose includes Loans outstanding thereunder) with respect to each Applicable Facility, determined as of the date the Assignment and Assumption with respect to such assignment is delivered to the Administrative
Agent or, if “Trade Date” is specified in the Assignment and Assumption, as of the Trade Date, shall not be less than $5,000,000 with respect to the Revolving Credit Facility, unless the Administrative Agent and, so long as no Event of
Default has occurred and is continuing, the Borrower Agent otherwise consents (each such consent not to be unreasonably withheld or delayed; provided that the Borrower Agent shall be deemed to have consented to any such assignment unless it
shall object thereto by written notice to the Administrative Agent within five (5) Business Days after having received notice thereof), provided, however, that concurrent assignments to members of an Assignee Group and concurrent
assignments from members of an Assignee Group to a single Eligible Assignee (or to an Eligible Assignee and members of its Assignee Group) will be treated as a single assignment for purposes of determining whether such minimum amount has been met;

 (ii) each partial assignment shall be made as an assignment of a proportionate part of all the assigning
Lender’s rights and obligations under this Agreement with respect to the Applicable Facility, except that this clause (ii) shall not (A) prohibit any Lender from assigning all or a portion of its rights and obligations among the
Applicable Facilities on a non-pro rata basis or (B) apply to rights in respect of Swing Line Loans; 

(iii) any assignment of a Revolving Credit Commitment must be approved by the Administrative Agent, the L/C Issuer and the
Swing Line Lender and, so long as no Event of Default has occurred and is continuing, the Borrower Agent (each such consent not to be unreasonably withheld or delayed; provided that the Borrower Agent shall be deemed to have consented to any
such assignment unless it shall object thereto by written notice to the Administrative Agent within ten (10) Business Days after having received notice thereof) unless the Person that is the proposed assignee is itself a Lender or an Affiliate
of a Lender (whether or not the proposed assignee would otherwise qualify as an Eligible Assignee); 
 (iv) the
parties to each assignment shall execute and deliver to the Administrative Agent an Assignment and Assumption, together with a processing and recordation fee in the amount of $3,500 payable by the assigning Lender, provided that the
Administrative Agent may, in its sole discretion, elect to waive such processing and recordation fee in the case of any assignment, and the Eligible Assignee, if it shall not be a Lender, shall deliver to the Administrative Agent an Administrative
Questionnaire; 
  

 136 

 (v) no such assignment shall be made (A) to any Borrower or any of the
Borrowers’ Affiliates or Subsidiaries, or (B) to any Defaulting Lender or any of its Subsidiaries, or any Person who, upon becoming a Lender hereunder, would constitute any of the foregoing Persons described in this clause (B), or
(C) to a natural person; and 
 (vi) in connection with any assignment of rights and obligations of any
Defaulting Lender hereunder, no such assignment shall be effective unless and until, in addition to the other conditions thereto set forth herein, the parties to the assignment shall make such additional payments to the Administrative Agent in an
aggregate amount sufficient, upon distribution thereof as appropriate (which may be outright payment, purchases by the assignee of participations or subparticipations, or other compensating actions, including funding, with the consent of the
Borrower Agent and the Administrative Agent, the applicable pro rata share of Loans previously requested but not funded by the Defaulting Lender, to each of which the applicable assignee and assignor hereby irrevocably consent), to (x) pay and
satisfy in full all payment liabilities then owed by such Defaulting Lender to the Administrative Agent or any Lender hereunder (and interest accrued thereon) and (y) acquire (and fund as appropriate) its full pro rata share of all Loans and
participations in Letters of Credit and Swing Line Loans in accordance with its Pro Rata Share. Notwithstanding the foregoing, in the event that any assignment of rights and obligations of any Defaulting Lender hereunder shall become effective under
applicable Law without compliance with the provisions of this paragraph, then the assignee of such interest shall be deemed to be a Defaulting Lender for all purposes of this Agreement until such compliance occurs. 

Subject to acceptance and recording thereof by the Administrative Agent pursuant to subsection (c) of this Section, from and after the effective
date specified in each Assignment and Assumption, the Eligible Assignee thereunder shall be a party to this Agreement and, to the extent of the interest assigned by such Assignment and Assumption, have the rights and obligations of a Revolving
Lender under this Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its obligations under this Agreement (and, in the case of an Assignment and Assumption
covering all of the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto) but shall continue to be entitled to the benefits of Sections 4.01, 4.04, 4.05, and
11.04 with respect to facts and circumstances occurring prior to the effective date of such assignment. Upon request, the Borrowers (at their expense) shall execute and deliver Revolving Loan Notes to the assignee Lender. Any assignment or
transfer by a Lender of rights or obligations under this Agreement that does not comply with this subsection shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance
with subsection (d) of this Section. Notwithstanding the foregoing, if any Lender shall assign all of its rights and obligations under this Agreement (an “Exiting Lender”), to the extent such Exiting Lender or an
Affiliate thereof is a Secured Related Credit Provider at the time of such assignment, (a) such Exiting Lender or Affiliate shall continue to be a Secured Related Credit Provider solely with respect to Secured Related Credit Obligations arising
under Related Credit Arrangements entered into prior to such assignment and shall continue to be entitled to the benefits of Section 9.03 in its capacity as a Secured Related Credit

  

 137 

 
Provider and (b) such Exiting Lender and such Affiliate shall continue to be subject to (i) notification requirements under the definition of “Secured Related Credit
Obligation”, and (ii) the requirements, including indemnification obligations, under Sections 9.03 and 10.12. 

(c) Register. The Administrative Agent, acting solely for this purpose as an agent of the Borrowers (and such agency being solely
for tax purposes) (in such capacity, subject to Section 11.17), shall maintain at the Administrative Agent’s Office a copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and
addresses of the Lenders, and the Revolving Credit Commitments of, and principal amounts of the Loans and L/C Obligations 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 Borrowers, the Administrative Agent 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. In addition, the Administrative Agent shall maintain on the Register information regarding the designation, and revocation of designation, of any Lender as a Defaulting Lender. The Register shall be available
for inspection by each of the Borrowers and the L/C Issuer at any reasonable time and from time to time upon reasonable prior notice. In addition, at any time that a request for a consent for a material or substantive change to the Loan Documents is
pending, any Lender may request and receive from the Administrative Agent a copy of the Register. 
 (d) Participations.
Any Lender may at any time, without the consent of, or notice to, any Borrower or the Administrative Agent, sell participations to any Person (other than a natural person, a Defaulting Lender or a Borrower or any of the Borrowers’ Affiliates or
Subsidiaries) (each, a “Participant”) in all or a portion of such Lender’s rights and/or obligations under this Agreement (including all or a portion of its Revolving Credit Commitment and/or the Loans (including such Lender’s
participations in L/C Obligations and/or Swing Line Loans) owing to it); provided 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 and (iii) the Borrowers, the Administrative Agent, the Lenders and the L/C Issuer shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and
obligations under this Agreement. 
 Any agreement or instrument pursuant to which a Lender sells such a participation shall
provide that such Lender shall retain the sole right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; provided that such agreement or instrument may provide that such Lender
will not, without the consent of the Participant, agree to any amendment, waiver or other modification described in the first proviso to Section 11.01 that affects such Participant. Subject to subsection (e) of this Section, the
Borrowers agree that each Participant shall be entitled to the benefits of Sections 4.01, 4.04 and 4.05 to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to subsection (b) of
this Section. To the extent permitted by law, each Participant also shall be entitled to the benefits of Section 11.08 as though it were a Lender, provided such Participant agrees to be subject to Section 2.14 as
though it were a Lender. 
 (e) Limitations upon Participant Rights. A Participant shall not be entitled to receive any
greater payment under Section 4.01 or 4.04 than the applicable Lender would have been 
  

 138 

 
entitled to receive with respect to the participation sold to such Participant, unless the sale of the participation to such Participant is made with the Borrower Agent’s prior written
consent. A Participant that would be a Foreign Lender if it were a Lender shall not be entitled to the benefits of Section 4.01 unless the Borrower Agent is notified of the participation sold to such Participant and such Participant
agrees, for the benefit of the Borrowers, to comply with Section 4.01(e) as though it were a Lender. 
 (f)
Certain Pledges. Any Lender may at any time pledge or assign a security interest in all or any portion of its rights under this Agreement (including under its Revolving Loan Note, if any) to secure obligations of such Lender, including any
pledge or assignment to secure obligations to a Federal Reserve Bank; provided that no such pledge or assignment shall release such Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a
party hereto. 
 (g) Electronic Execution of Assignments. The words “execution,” “signed,”
“signature,” and words of like import in any Assignment and Assumption shall be deemed to include electronic signatures or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or
enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National
Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act. 

(h) Special Purpose Funding Vehicles. Notwithstanding anything to the contrary contained herein, any Lender (a
“Granting Lender”) may grant to a special purpose funding vehicle identified as such in writing from time to time by the Granting Lender to the Administrative Agent and the Borrower Agent (an “SPC”)
the option to provide all or any part of any Loan that such Granting Lender would otherwise be obligated to make pursuant to this Agreement; provided that (i) nothing herein shall constitute a commitment by any SPC to fund any Loan, and
(ii) if an SPC elects not to exercise such option or otherwise fails to make all or any part of such Loan, the Granting Lender shall be obligated to make such Loan pursuant to the terms hereof or, if it fails to do so, to make such payment to
the Administrative Agent as is required under Section 2.13(c)(ii). Each party hereto hereby agrees that (i) neither the grant to any SPC nor the exercise by any SPC of such option shall increase the costs or expenses or otherwise
increase or change the obligations of the Borrowers under this Agreement (including its obligations under Section 4.04), (ii) no SPC shall be liable for any indemnity or similar payment obligation under this Agreement for which a
Lender would be liable, and (iii) the Granting Lender shall for all purposes, including the approval of any amendment, waiver or other modification of any provision of any Loan Document, remain the lender of record hereunder. The making of a
Loan by an SPC hereunder shall utilize the Revolving Credit Commitment of the Granting Lender to the same extent, and as if, such Loan were made by such Granting Lender. In furtherance of the foregoing, each party hereto hereby agrees (which
agreement shall survive the occurrence of the Facility Termination Date) 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 debt of any SPC, it will not institute
against, or join any other Person in instituting against, such SPC any bankruptcy, reorganization, arrangement, insolvency, or liquidation proceeding under the laws of the United States or any State thereof. Notwithstanding anything to the contrary
contained 
  

 139 

 
herein, any SPC may (i) with notice to, but without prior consent of the Borrower Agent and the Administrative Agent and with the payment of a processing fee in the amount of $2,500, assign
all or any portion of its right to receive payment with respect to any Loan to the Granting Lender and (ii) disclose on a confidential basis any non-public information relating to its funding of Loans to any rating agency, commercial paper
dealer or provider of any surety or Guarantee or credit or liquidity enhancement to such SPC. 
 (i) Resignation as L/C
Issuer and/or Swing Line Lender after Assignment. Notwithstanding anything to the contrary contained herein, if at any time Bank of America or JPMorgan assigns all of its Revolving Credit Commitment, Revolving Loans, pursuant to subsection
(b) above, such Person may, (i) upon 30 days’ notice to the Borrower Agent and the Lenders, resign as L/C Issuer and/or (ii) in the case of Bank of America, upon 30 days’ notice to the Borrower Agent, resign as Swing Line
Lender. In the event of any such resignation as L/C Issuer, or Swing Line Lender, the Borrower Agent shall be entitled to appoint from among the Lenders willing to serve in such capacity a successor L/C Issuer or Swing Line Lender hereunder, as the
case may be; provided, however, that no failure by the Borrower Agent to appoint any such successor shall affect the resignation of such Person as L/C Issuer or Swing Line Lender, as the case may be. If Bank of America or JPMorgan
resigns as L/C Issuer, such Person shall retain all the rights, powers, privileges and duties of the L/C Issuer hereunder with respect to all Letters of Credit outstanding as of the effective date of its resignation as L/C Issuer and all L/C
Obligations with respect thereto (including the right to require the Lenders to make Base Rate Loans or fund risk participations in Unreimbursed Amounts pursuant to Section 2.04(c)). If Bank of America resigns as Swing Line Lender, it
shall retain all the rights of the Swing Line Lender provided for hereunder with respect to Swing Line Loans made by it and outstanding as of the effective date of such resignation, including the right to require the Lenders to make Base Rate Loans
or fund risk participations in outstanding Swing Line Loans pursuant to Section 2.05(c). Upon the appointment of a successor L/C Issuer and/or Swing Line Lender, (a) such successor shall succeed to and become vested with all of the
rights, powers, privileges and duties of the retiring L/C Issuer or Swing Line Lender, as the case may be, and (b) the successor L/C Issuer shall issue letters of credit in substitution for the Letters of Credit, if any, outstanding at the time
of such successor or make other arrangements satisfactory to the retiring L/C Issuer to effectively assume the obligations of such L/C Issuer with respect to such Letters of Credit. 

11.07 Treatment of Certain Information; Confidentiality. Each of the Administrative Agent, the Lenders and the L/C Issuer agrees
to maintain the confidentiality of the Information (as defined below), except that Information may be disclosed (a) to its Affiliates and to its and its Affiliates’ respective partners, directors, trustees, officers, employees, agents,
advisors and representatives (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 purporting to have jurisdiction over it (including any self-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) to any other party hereto, (e) in connection with the exercise of any remedies hereunder or under any other Loan Document or any action or proceeding relating to this Agreement or any other
Loan Document or the enforcement of rights hereunder or thereunder, (f) subject to an agreement containing provisions substantially the same or at least as restrictive as those of this Section, to (i) any assignee of or

  

 140 

 
Participant in, or any prospective assignee of or Participant in, any of its rights or obligations under this Agreement or (ii) any actual or prospective counterparty (or its advisors) to
any swap or derivative transaction relating to the Borrowers and their obligations, (g) with the consent of the Borrower Agent or (h) to the extent such Information (x) becomes publicly available other than as a result of a breach of
this Section or (y) becomes available to the Administrative Agent, any Lender, the L/C Issuer or any of their respective Affiliates on a nonconfidential basis from a source other than the Borrowers or any Subsidiary. 

For purposes of this Section, “Information” means all information received from the Company or any Subsidiary
relating to the Company or any Subsidiary or any of their respective businesses, other than any such information that is available to the Administrative Agent, any Lender or the L/C Issuer on a nonconfidential basis prior to disclosure by the
Company or any Subsidiary, provided that, in the case of information received from the Company or any Subsidiary after the date hereof, any information not marked “PUBLIC” at the time of delivery will be deemed to be confidential;
provided, that any information marked “PUBLIC may also be marked “Confidential”. Any Person required to maintain the confidentiality of Information as provided in this Section shall be considered to have complied with its obligation
to do so if such Person has exercised the same degree of care to maintain the confidentiality of such Information as such Person would accord to its own confidential information. 

Each of the Administrative Agent, the Lenders and the L/C Issuer acknowledges that (a) the Information may include material
non-public information concerning the Company or a Subsidiary, as the case may be, (b) it has developed compliance procedures regarding the use of material non-public information and (c) it will handle such material non-public information
in accordance with applicable Law, including Federal and state securities Laws. 
 11.08 Right of Setoff. If an Event of
Default shall have occurred and be continuing, each Lender, the L/C Issuer and each of their respective Affiliates is hereby authorized at any time and from time to time, after obtaining the prior written consent of the Administrative Agent, to the
fullest extent permitted by applicable law, to set off and apply any and all deposits (general or special, time or demand, provisional or final, in whatever currency) at any time held and other obligations (in whatever currency) at any time owing by
such Lender, the L/C Issuer or any such Affiliate to or for the credit or the account of the Borrowers against any and all of the obligations of the Borrowers now or hereafter existing under this Agreement or any other Loan Document to such
Lender or the L/C Issuer, irrespective of whether or not such Lender or the L/C Issuer shall have made any demand under this Agreement or any other Loan Document and although such obligations of the Borrowers may be contingent or unmatured or are
owed to a branch or office of such Lender or the L/C Issuer different from the branch or office holding such deposit or obligated on such indebtedness; provided that in the event that any Defaulting Lender shall exercise any such right of
setoff, (x) all amounts so set off shall be paid over immediately to the Administrative Agent for further application in accordance with the provisions of Section 2.18 and, pending such payment, shall be segregated by such
Defaulting Lender from its other funds and deemed held in trust for the benefit of the Administrative Agent and the Lenders, and (y) the Defaulting Lender shall provide promptly to the Administrative Agent a statement describing in reasonable
detail the Obligations owing to such Defaulting Lender as to which it exercised such right of setoff. The rights of each Lender, the L/C Issuer and their respective Affiliates under this Section are in addition to other rights and remedies
(including other rights of setoff) that 
  

 141 

 
such Lender, the L/C Issuer or their respective Affiliates may have. Each Lender and the L/C Issuer agrees to notify the Borrower Agent and the Administrative Agent promptly after any such setoff
and application, provided that the failure to give such notice shall not affect the validity of such setoff and application. 

11.09 Interest Rate Limitation. Notwithstanding anything to the contrary contained in any Loan Document, the interest paid
or agreed to be paid under the Loan Documents shall not exceed the maximum rate of non-usurious interest permitted by applicable Law (the “Maximum Rate”). If the Administrative Agent or any Lender shall receive interest in an
amount that exceeds the Maximum Rate, the excess interest shall be applied to the principal of the Loans or, if it exceeds such unpaid principal, refunded to the Borrowers. In determining whether the interest contracted for, charged, or received by
the Administrative Agent or a Lender exceeds the Maximum Rate, such Person may, to the extent permitted by applicable Law, (a) characterize any payment that is not principal as an expense, fee, or premium rather than interest, (b) exclude
voluntary prepayments and the effects thereof, and (c) amortize, prorate, allocate, and spread in equal or unequal parts the total amount of interest throughout the contemplated term of the Obligations hereunder. 

11.10 Counterparts; Integration; Effectiveness. This Agreement may be executed in counterparts (and by different parties
hereto in different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This Agreement and the other Loan Documents constitute the entire contract among the parties
relating to the subject matter hereof and supersede any and all previous agreements and understandings, oral or written, relating to the subject matter hereof. Except as provided in Section 5.01, this Agreement shall become effective
when it shall have been executed by the Administrative Agent and when the Administrative Agent shall have received counterparts hereof that, when taken together, bear the signatures of each of the other parties hereto. Delivery of an executed
counterpart of a signature page of this Agreement by telecopy shall be effective as delivery of a manually executed counterpart of this Agreement. 

11.11 Survival of Representations and Warranties. All representations and warranties made hereunder and in any other Loan
Document or other document delivered pursuant hereto or thereto or in connection herewith or therewith shall survive the execution and delivery hereof and thereof. Such representations and warranties have been or will be relied upon by the
Administrative Agent and each Lender, regardless of any investigation made by the Administrative Agent or any Lender or on their behalf and notwithstanding that the Administrative Agent or any Lender may have had notice or knowledge of any Default
at the time of any Credit Extension, and shall continue in full force and effect as long as any Loan or any other Obligation hereunder shall remain unpaid or unsatisfied or any Letter of Credit shall remain outstanding. 

11.12 Severability. If any provision of this Agreement or the other Loan Documents is held to be illegal, invalid or
unenforceable, (a) the legality, validity and enforceability of the remaining provisions of this Agreement and the other Loan Documents shall not be affected or impaired thereby and (b) the parties shall endeavor in good faith negotiations
to replace the illegal, invalid or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the illegal, invalid or unenforceable provisions. The

  

 142 

 
invalidity of a provision in a particular jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. Without limiting the foregoing provisions of this
Section 11.12, if and to the extent that the enforceability of any provisions in this Agreement relating to Defaulting Lenders shall be limited by Debtor Relief Laws, as determined in good faith by the Administrative Agent, the L/C
Issuer or the Swing Line Lender, as applicable, then such provisions shall be deemed to be in effect only to the extent not so limited. 

11.13 Replacement of Lenders. If any Lender requests compensation under Section 4.04, if the Borrowers are required to
pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 4.01, if any Lender is a Defaulting Lender, or if any Lender fails to approve any amendment, waiver or consent
requested by Borrower Agent pursuant to Section 11.01 that has received the written approval of not less than the Required Lenders but also requires the approval of such Lender, then in each such case the Borrower Agent may, at its sole
expense and effort, upon notice to such Lender and the Administrative Agent, require such Lender to assign and delegate, without recourse (in accordance with and subject to the restrictions contained in, and consents required by,
Section 11.06), all of its interests, rights and obligations under this Agreement and the related Loan Documents to an assignee that shall assume such obligations (which assignee may be another Lender, if a Lender accepts such
assignment), provided that: 
 (a) the Borrower Agent shall have paid to the Administrative Agent the assignment fee
specified in Section 11.06(b); 
 (b) such Lender shall have received payment of an amount equal to the outstanding
principal of its Loans and L/C Advances, accrued interest thereon, accrued fees and all other amounts payable to it hereunder and under the other Loan Documents (including any amounts under Section 4.05) from the assignee (to the extent
of such outstanding principal and accrued interest and fees) or the Borrower Agent (in the case of all other amounts); 
 (c) in
the case of any such assignment resulting from a claim for compensation under Section 4.04 or payments required to be made pursuant to Section 4.01, such assignment will result in a reduction in such compensation or payments
thereafter; 
 (d) in the case of any such assignment resulting from the refusal of a Lender to approve a requested amendment,
waiver or consent, the Person to whom such assignment is being made has agreed to approve such requested amendment, waiver or consent; and 

(e) such assignment does not conflict with applicable Laws. 

A Lender shall not be required to make any such assignment or delegation if, prior thereto, as a result of a waiver by such Lender or
otherwise, the circumstances entitling the Borrowers to require such assignment and delegation cease to apply. 
 11.14
Governing Law; Jurisdiction; Etc. 
 (a) GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 
  

 143 

 (b) SUBMISSION TO JURISDICTION. EACH BORROWER IRREVOCABLY AND UNCONDITIONALLY
SUBMITS, FOR ITSELF AND ITS PROPERTY, TO THE NONEXCLUSIVE JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK SITTING IN NEW YORK COUNTY AND OF THE UNITED STATES DISTRICT COURT OF THE SOUTHERN DISTRICT OF NEW YORK, AND ANY APPELLATE COURT FROM ANY
THEREOF, IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT, OR FOR RECOGNITION OR ENFORCEMENT OF ANY JUDGMENT, AND EACH OF THE PARTIES HERETO 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 COURT OR, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, IN SUCH FEDERAL COURT. EACH OF THE PARTIES HERETO AGREES THAT A FINAL JUDGMENT IN ANY SUCH
ACTION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW. NOTHING IN THIS AGREEMENT OR IN ANY OTHER LOAN DOCUMENT SHALL AFFECT ANY RIGHT THAT THE
ADMINISTRATIVE AGENT, ANY LENDER OR THE L/C ISSUER MAY OTHERWISE HAVE TO BRING ANY ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT AGAINST THE BORROWERS OR THEIR PROPERTIES IN THE COURTS OF ANY JURISDICTION. 

(c) WAIVER OF VENUE. EACH BORROWER IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY
OBJECTION THAT IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT IN ANY COURT REFERRED TO IN PARAGRAPH (B) OF THIS SECTION. EACH OF THE
PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THE DEFENSE OF AN INCONVENIENT FORUM TO THE MAINTENANCE OF SUCH ACTION OR PROCEEDING IN ANY SUCH COURT. 

(d) SERVICE OF PROCESS. EACH PARTY HERETO IRREVOCABLY CONSENTS TO SERVICE OF PROCESS IN THE MANNER PROVIDED FOR NOTICES IN
SECTION 11.02. NOTHING IN THIS AGREEMENT WILL AFFECT THE RIGHT OF ANY PARTY HERETO TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE LAW. 

11.15 Waiver of Jury Trial. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY
RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY
OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PERSON WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING
WAIVER AND (B)
  

 144 

 
ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS
SECTION. 
 11.16 USA PATRIOT Act Notice. Each Lender that is subject to the Act (as hereinafter defined) and the
Administrative Agent (for itself and not on behalf of any Lender) hereby notifies the Borrowers that pursuant to the requirements of the USA PATRIOT Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)) (the
“Act”), it is required to obtain, verify and record information that identifies the Borrowers, which information includes the name and address of the Borrowers and other information that will allow such Lender or the
Administrative Agent, as applicable, to identify the Borrowers in accordance with the Act. 
 11.17 No Advisory or Fiduciary
Responsibility. In connection with all aspects of each transaction contemplated hereby (including in connection with any amendment, waiver or other modification hereof or of any other Loan Document), each Borrower acknowledges and agrees, and
acknowledges its Affiliates’ understanding, that: (i) (A) the arranging and other services regarding this Agreement provided by the Administrative Agent, the Arrangers or the Lenders are arm’s-length commercial transactions
between each Borrower and its Affiliates, on the one hand, and the Administrative Agent, the Arrangers and the Lenders, on the other hand, (B) each Borrower has consulted its own legal, accounting, regulatory and tax advisors to the extent it
has deemed appropriate, and (C) each Borrower is capable of evaluating, and understands and accepts, the terms, risks and conditions of the transactions contemplated hereby and by the other Loan Documents; (ii) (A) each of the
Administrative Agent, the Arrangers and each Lender is and has been acting solely as a principal and, except as expressly agreed in writing by the relevant parties, has not been, is not, and will not be acting as an advisor, agent or fiduciary for
any Borrower or any of its Affiliates or any other Person and (B) neither the Administrative Agent nor either Arranger nor any Lender has any obligation to any Borrower or any of its Affiliates with respect to the transactions contemplated
hereby except those obligations expressly set forth herein and in the other Loan Documents and (iii) the Administrative Agent, the Arrangers, the Lenders and their respective Affiliates may be engaged in a board range of transactions that
involve interests that differ from those of the Borrowers and their Affiliates, and neither the Administrative Agent nor either Arranger nor any Lender has any obligation to disclose any of such interests to any Borrower or its Affiliates. To the
fullest extent permitted by law, each Borrower hereby waives and releases any claims that it may have against the Administrative Agent, each Arranger and each Lender with respect to any breach or alleged breach of agency or fiduciary duty in
connection with any aspect of any transaction contemplated hereby. 
 [Remainder of page is intentionally left blank;
signature pages follow.] 
  

 145 

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

			
	BORROWERS:
	MUELLER WATER PRODUCTS, INC.
	ANVIL INTERNATIONAL, LP
	 By:
	 	Anvil I, LLC, its General Partner
	ANVILSTAR, LLC
	FAST FABRICATORS, LLC
	HENRY PRATT COMPANY, LLC
	HERSEY METERS CO., LLC
	HUNT INDUSTRIES, LLC
	HYDRO GATE, LLC
	J.B. SMITH MFG CO., LLC
	JAMES JONES COMPANY, LLC
	MILLIKEN VALVE, LLC
	MUELLER CO. LTD.
	 By:
	 	MCO 1, LLC, its General Partner
	MUELLER GROUP, LLC
	 MUELLER INTERNATIONAL, INC. MUELLER SERVICE CALIFORNIA, INC.

MUELLER SERVICE CO., LLC
 MUELLER
SYSTEMS LLC

	U.S. PIPE VALVE & HYDRANT, LLC
	 UNITED STATES PIPE AND FOUNDRY COMPANY, LLC

		
	By:	 	 /s/  Walt Smith

	Name:	 	 Walter A. Smith

	Title:	 	 Treasurer

CREDIT AGREEMENT 

Signature Page 

			
	ADMINISTRATIVE AGENT:
	BANK OF AMERICA, N.A., as Administrative Agent
		
	By:	 	 /s/  William Wilson

	Name:	 	 William J. Wilson

	Title:	 	 Senior Vice President

CREDIT AGREEMENT 

Signature Page 

			
	LENDERS:
	BANK OF AMERICA, N.A., as a Lender, L/C Issuer and Swing Line Lender
		
	By:	 	 /s/  William Wilson

	Name:	 	 William J. Wilson

	Title:	 	 Senior Vice President

CREDIT AGREEMENT 

Signature Page 

			
	WELLS FARGO CAPITAL FINANCE, LLC,
as a Lender
		
	By:	 	 /s/  Sanat Amladi

	Name:	 	 Sanat Amladi

	Title:	 	 Vice President

CREDIT AGREEMENT 

Signature Page 

			
	JPMORGAN CHASE BANK, N.A., as a Lender
		
	By:	 	 /s/  T.S. Wilae

	Name:	 	 T.S.Wilae

	Title:	 	 Vice President

CREDIT AGREEMENT 

Signature Page 

			
	SUNTRUST BANK, as a Lender
		
	By:	 	 /s/  Mike Knuckles

	Name:	 	 Mike Knuckles

	Title:	 	 Director

CREDIT AGREEMENT 

Signature Page 

			
	GOLDMAN SACHS BANK USA, as a Lender
		
	By:	 	 /s/  William Moul

	Name:	 	 William H. Moul, Jr.

	Title:	 	 Vice President

CREDIT AGREEMENT 

Signature Page 

			
	TD BANK, N.A., as a Lender
		
	By:	 	 /s/  Rebecca Kratz

	Name:	 	 Rebecca Kratz

	Title:	 	 Authorized Signatory

CREDIT AGREEMENT 

Signature Page 

 SCHEDULE 1.01 

UNRESTRICTED SUBSIDIARIES 

Anvil International LLC 

 SCHEDULE 1.02 

 

											
	 LC#
	  	 Applicant
	  	 Beneficiary
	  	Issue
Date	  	USD Amt	  	Annual
Expiration
	 T00000003037391
	  	US Pipe	  	California Integrated Waste	  	05/24/07	  	1,182,081.00	  	04/30/2011
						
	 T00000000905470
	  	US Pipe	  	Alabama Dept of Env. Mgmt	  	05/24/07	  	3,922,659.00	  	03/14/2011
						
	 T00000003067845
	  	Anvil International, Inc.	  	Avalon Risk Management Inc.	  	05/24/07	  	245,000.00	  	03/22/2011
						
	 T00000003068774
	  	AnvilStar, LLC	  	ABN AMRO Bank	  	10/29/07	  	216,640.38	  	10/24/2010
						
	 T00000003068779
	  	Mueller Group, Inc.	  	National Union Fire Insurance Co.	  	05/12/09	  	970,000.00	  	05/05/2011
						
	 T00000003067390
	  	Mueller Group, LLC	  	ACE American Ins Company	  	05/24/07	  	23,267,850.00	  	08/16/2010
						
	 T00000003068780
	  	US Pipe	  	Dept. of Industrial Relations - Worker’s Comp Div.	  	06/02/09	  	400,000.00	  	05/28/2011
						
	 T00000003022700
	  	US Pipe	  	Town of Binghamton	  	05/24/07	  	30,000.00	  	12/17/2010
						
	 T00000003068777
	  	Henry Pratt Company	  	JLS Partners	  	04/01/09	  	36,677.00	  	08/01/2011
						
	 T00000003068782
	  	Henry Pratt Company	  	Progress Energy Carolinas, Inc.	  	06/22/09	  	46,801.00	  	06/12/2011
						
	 T00000003068783
	  	Mueller Canada Ltd	  	Pueblo Viejo Dominicana Corporation	  	07/31/09	  	21,231.86	  	01/31/2011
						
	 T00000003068785
	  	Henry Pratt Company	  	Sandy Creek Power Partners, LP	  	09/22/09	  	52,301.40	  	09/30/2010
						
	 T00000003068786
	  	Mueller Co. Gas Division	  	Titas Gas Transmission	  	12/03/09	  	12,532.61	  	05/30/2011
						
	 T00000003068790
	  	Mueller Co. Gas Division	  	Titas Gas Transmission	  	05/17/10	  	4,379.32	  	11/30/2011
						
	 T00000003067379
	  	Anvil/Star-Mlr	  	The Travelers Casualty	  	05/24/07	  	1,373,795.00	  	03/09/2011

											
		  	Grp LLC / Mlr Service Co.	  	& Surety	  		  		  	
						
	 T00000003067376
	  	Pratt/Mueller Group, Inc.	  	The Travelers Casualty & Surety	  	05/24/07	  	3,154,149.88	  	02/17/2011
						
	 T00000003042874
	  	US Pipe	  	The Travelers Casualty & Surety	  	05/24/07	  	2,884,000.00	  	10/03/2010

 SCHEDULE 2.01 

COMMITMENTS AND 

PRO RATA SHARES 

(As of the Closing Date) 
  

							
	 Lender
	  	Revolving Credit
Commitment	  	Pro Rata
Revolving Share	 
	 Bank of America, N.A.
	  	$	75,000,000.00	  	27.2727272727	% 
	 Wells Fargo Capital Finance, LLC
	  	 	65,000,000.00	  	23.6363636364	% 
	 JPMorgan Chase Bank, N.A.
	  	 	45,000,000.00	  	16.3636363636	% 
	 SunTrust Bank
	  	 	45,000,000.00	  	16.3636363636	% 
	 Goldman Sachs Bank USA
	  	 	25,000,000.00	  	9.0909090909	% 
	 TD Bank, N.A.
	  	 	20,000,000.00	  	7.2727272727	% 
		  	 	 	  	 	 
	 Total
	  	$	275,000,000.00	  	100.000000000	% 

 SCHEDULE 3.02(d) 

DEPOSIT ACCOUNTS AND SECURITIES ACCOUNTS 
  

					
	 Deposit Accounts

	 Name and Address of

Depository Institution
	  	 Account

Number
	  	 Name and Type

of Account

	 JPMorgan Chase Bank

2200 Ross Avenue, Floor 06

Dallas, TX, 75201-2787
	  	716486303	  	Mueller Water Products, Inc. – Concentration
			
	 JPMorgan Chase Bank

2200 Ross Avenue, Floor 06

Dallas, TX, 75201-2787
	  	716486022	  	Mueller Co. LTD – Lockbox
			
	 JPMorgan Chase Bank

2200 Ross Avenue, Floor 06

Dallas, TX, 75201-2787
	  	722615929	  	U.S. Pipe and Foundry Co. LLC – Lockbox
			
	 JPMorgan Chase Bank

2200 Ross Avenue, Floor 06

Dallas, TX, 75201-2787
	  	722615945	  	Anvil International, LP – Lockbox
			
	 Old National Bank

333 East Main St., Suite 100

Louisville, Kentucky 40202
	  	113829676	  	Fast Fabricators LLC – Account Payable A/C
			
	 Old National Bank

333 East Main St., Suite 100

Louisville, Kentucky 40202
	  	113829368	  	Fast Fabricators LLC – Payroll A/C*
			
	 Old National Bank

333 East Main St., Suite 100

Louisville, Kentucky 40202
	  	113829379	  	Fast Fabricators LLC – Cash Collections
			
	 Sun Trust Bank

25 Park Place, 14th floor

Atlanta, GA 30303
	  	1000042192632	  	Mueller Group, LLC – Concentration*
			
	 Sun Trust Bank

25 Park Place, 14th floor

Atlanta, GA 30303
	  	1000042192905	  	Mueller International Finance, Inc. – Tax Legal Entity Transfer*
			
	 Sun Trust Bank

25 Park Place, 14th floor

Atlanta, GA 30303
	  	1000042192897	  	Mueller International, Inc. – Tax Legal Entity Transfer*

					
	 Sun Trust Bank
 25 Park Place,
14th floor
 Atlanta, GA 30303
	  	8800621669	  	Mueller Co. Ltd. – A/P*
			
	 Sun Trust Bank

25 Park Place, 14th floor

Atlanta, GA 30303
	  	8800621941	  	Henry Pratt Co. LLC – A/P*
			
	 Sun Trust Bank

25 Park Place, 14th floor

Atlanta, GA 30303
	  	8800622212	  	Hydro Gate, LLC – A/P*
			
	 Sun Trust Bank

25 Park Place, 14th floor

Atlanta, GA 30303
	  	8800622253	  	Milliken Valve, LLC – A/P*
			
	 Sun Trust Bank

25 Park Place, 14th floor

Atlanta, GA 30303
	  	8800622295	  	Hersey Meters Co. LLC – A/P*
			
	 Sun Trust Bank

25 Park Place, 14th floor

Atlanta, GA 30303
	  	8800622337	  	Hersey Meters Co. LLC – Payroll*
			
	 Sun Trust Bank

25 Park Place, 14th floor

Atlanta, GA 30303
	  	8800619903	  	Anvil International LP – A/P*
			
	 Sun Trust Bank

25 Park Place, 14th floor

Atlanta, GA 30303
	  	1000042192947	  	Anvil International LP – Payroll*
			
	 Sun Trust Bank

25 Park Place, 14th floor

Atlanta, GA 30303
	  	8800621701	  	Mueller Co. Ltd. – Payroll*
			
	 Sun Trust Bank

25 Park Place, 14th floor

Atlanta, GA 30303
	  	8800621826	  	Mueller Co. Ltd. – Payroll*
			
	 Sun Trust Bank

25 Park Place, 14th floor

Atlanta, GA 30303
	  	8800621743	  	Mueller Co. Ltd. – Payroll*
			
	 Sun Trust Bank

25 Park Place, 14th floor

Atlanta, GA 30303
	  	8800621784	  	Mueller Co. Ltd. – Payroll*
			
	 Sun Trust Bank

25 Park Place, 14th floor

Atlanta, GA 30303
	  	8800621867	  	Mueller Co. Ltd. – Payroll*
			
	 Sun Trust Bank

25 Park Place, 14th floor

Atlanta, GA 30303
	  	8800621982	  	Henry Pratt Co. LLC – Payroll*

					
	 Sun Trust Bank
 25 Park Place,
14th floor
 Atlanta, GA 30303
	  	6656656931626	  	U.S. Pipe and Foundry Co. LLC – A/P*
			
	 Sun Trust Bank
 25 Park Place,
14th floor
 Atlanta, GA 30303
	  	8800620265	  	U.S. Pipe and Foundry Co. LLC – Payroll*
			
	 Sun Trust Bank
 25 Park Place,
14th floor
 Atlanta, GA 30303
	  	1000042192913	  	Mueller Water Products, Inc. Tax Legal Entity Transfer*

Securities Accounts 
  

					
	 Securities
Accounts

	 Name and Address of

Securities Intermediary
	  	 Account

Number
	  	 Name and Type

of Account

	 Fifth Third Bank
 5050 Kingsley
Drive
 Cincinnati, OH 45263
	  	069-093688	  	Fast Fabricators LLC – Money Market Account
			
	 Fifth Third Bank
 5050 Kingsley
Drive
 Cincinnati, OH 45263
	  	069-093696	  	Fast Fabricators LLC – Fifth Third Institutional
			
	 Fifth Third Bank
 5050 Kingsley
Drive
 Cincinnati, OH 45263
	  	069-099368	  	Fast Fabricators LLC – Money Market Core

Commodity Accounts 

None. 
 * = Excluded Deposit
Account 

 SCHEDULE 3.04 

INFORMATION REGARDING COLLATERAL 
  

					
	 I.
	  	 II.
	  	 III.

	 Name
	  	 Jurisdiction of

Formation/

Form of Equity/I.D. Number
	  	 Address of Chief

Executive Office

	Mueller Water Products, Inc.	  	 Delaware

Corporation
 #4033400
	  	 1200 Abernathy Rd.
 Suite 1200

 Atlanta, GA 30328

			
	Mueller Group, LLC	  	 Delaware
 Limited Liability
Company
 #3067786
	  	 1200 Abernathy Rd.
 Suite 1200

 Atlanta, GA 30328

			
	Anvil International, LP	  	 Delaware
 Limited Partnership

 #3067111
	  	 1200 Abernathy Rd.
 Suite 1200

 Atlanta, GA 30328

			
	AnvilStar, LLC	  	 Delaware
 Limited Liability
Company
 #3749592
	  	 1200 Abernathy Rd.
 Suite 1200

 Atlanta, GA 30328

			
	Fast Fabricators, LLC	  	 Delaware
 Limited Liability
Company
 #4254549
	  	 1200 Abernathy Rd.
 Suite 1200

 Atlanta, GA 30328

			
	Henry Pratt Company, LLC	  	 Delaware
 Limited Liability
Company
 #2198696
	  	 1200 Abernathy Rd.
 Suite 1200

 Atlanta, GA 30328

			
	Hersey Meters Co., LLC	  	 Delaware
 Limited Liability
Company
 #3078050
	  	 1200 Abernathy Rd.
 Suite 1200

 Atlanta, GA 30328

			
	Hunt Industries, LLC	  	 Delaware
 Limited Liability
Company
 #4100929
	  	 1200 Abernathy Rd.
 Suite 1200

 Atlanta, GA 30328

			
	Hydro Gate, LLC	  	 Delaware
 Limited Liability
Company
 #3463120
	  	 1200 Abernathy Rd.
 Suite 1200

 Atlanta, GA 30328

			
	James Jones Company, LLC	  	 Delaware
 Limited Liability
Company
 #4101154
	  	 1200 Abernathy Rd.
 Suite 1200

 Atlanta, GA 30328

			
	J.B. Smith Mfg Co., LLC	  	 Delaware
 Limited Liability
Company
 #4101104
	  	 1200 Abernathy Rd.
 Suite 1200

 Atlanta, GA 30328

					
	 I.
	  	 II.
	  	 III.

	 Name
	  	 Jurisdiction of

Formation/

Form of Equity/I.D. Number
	  	 Address of Chief

Executive Office

	Milliken Valve, LLC	  	 Delaware
 Limited Liability
Company
 #3615102
	  	 1200 Abernathy Rd.
 Suite
1200
 Atlanta, GA 30328

			
	Mueller Co. Ltd.	  	 Alabama
 Limited Partnership

 #504-532
	  	 1200 Abernathy Rd.
 Suite
1200
 Atlanta, GA 30328

			
	Mueller Service California, Inc.	  	 Delaware

Corporation
 #4238113
	  	 1200 Abernathy Rd.
 Suite
1200
 Atlanta, GA 30328

			
	Mueller Service Co., LLC	  	 Delaware
 Limited Liability
Company
 #2131785
	  	 1200 Abernathy Rd.
 Suite
1200
 Atlanta, GA 30328

			
	Mueller International, Inc.	  	 Delaware Corporation

#3437273
	  	 1200 Abernathy Rd.
 Suite
1200
 Atlanta, GA 30328

			
	Mueller Systems LLC	  	 Delaware
 Limited Liability
Company
 #4629121
	  	 1200 Abernathy Rd.
 Suite
1200
 Atlanta, GA 30328

			
	United States Pipe and Foundry Company, LLC	  	 Alabama
 Limited Liability
Company
 # 469-116
	  	 1200 Abernathy Rd.
 Suite
1200
 Atlanta, GA 30328

			
	U.S. Pipe Valve & Hydrant, LLC	  	 Delaware
 Limited Liability
Company
 #4640007
	  	 1200 Abernathy Rd.
 Suite
1200
 Atlanta, GA 30328

 Mueller Water Products, Inc. 

Collateral by Location 
  

																				
	United States Pipe and Foundry Company LLC
										
	 Location Name
	 	 Street Address
	 	City	 	State	 	Zip-Code	 	 Status
	 	 Legal Name of

Lease Holder or

Third Party
	 	Monthly Lease
Amount $	 	 Collateral
	 	Inventory Value
	 U.S.Pipe - Corporate Headquarters
	 	3300 First Avenue North	 	Birmingham	 	AL	 	35222	 	Owned	 		 		 	A/R	 	 	N/A
	 U.S. Pipe - Bessemer
	 	2023 St. Louis Avenue	 	Bessemer	 	AL	 	35020	 	Owned	 	NA	 		 	Inventory	 	$	43,036,066
	 U.S. Pipe-California
	 	1295 Whipple Road	 	Union City	 	CA	 	94587	 	Owned	 	NA	 		 	Inventory	 	 	9,333,212
	 S & B TECHNICAL PRODUCTS
	 	NA	 		 		 		 	Third Party Offsite - Foreign	 	NA	 		 	Inventory	 	 	4,820,393
	 U.S. Pipe - N. Birmingham
	 	3000 30th Avenue North	 	Birmingham	 	AL	 	35207	 	Owned	 	NA	 		 	Inventory	 	 	2,716,913
	 VULCAN PIPE INC
	 	2400 Woodward Rd	 	Bessemer	 	AL	 	35020	 	Third Party Offsite	 	Vulcan Pipe & Steel Coatings Inc.	 		 	Inventory	 	 	2,674,807
	 U.S. Pipe - Burlington
	 	1101 East Pearl Street	 	Burlington	 	NJ	 	08016	 	Owned	 	NA	 		 	Inventory	 	 	3,865,190
	 MAZER- BIRMINGHAM
	 	3816 1st Avenue South	 	Birmingham	 	AL	 	35213	 	Leased	 	Mazer Discount Superstore	 	4,500	 	Inventory	 	 	2,478,963
	 U.S. Pipe - Marvel City
	 	2101 18th av N	 	Bessemer	 	AL	 	35020	 	Owned	 	NA	 		 	Inventory	 	 	2,273,150
	 Lemont Stockyard
	 	12300 New Av	 	Lemont	 	IL	 	60439	 	Leased based on tons stored	 	Noramco Transport Corp	 	2,800	 	Inventory	 	 	1,190,468
	 Minneapolis Stockyard
	 	21778 Highview Avenue	 	Lakeville	 	MN	 	55044	 	Leased	 	Progressive Rail Inc.	 	4,000	 	Inventory	 	 	752,508
	 VULCAN PAINTERS, INC. MINOR
	 	2736 Old Mine Road	 	Birmingham	 	AL	 	35224	 	Third Party Offsite	 	Vulcan Painters, Inc.	 		 	Inventory	 	 	394,351
	 BIRMINGHAM FASTNERS - MFG/TRANSIT
	 	931 Avenue W	 	Birmingham	 	AL	 	35214	 	Third Party Offsite	 	Birmingham Fastener, Inc.	 		 	Inventory	 	 	463,684
	 Peoria Stockyard
	 	83rd Av & Grand Av	 	Peoria	 	AZ	 	85345	 	Leased	 	Reload Express, Inc.	 	2,800	 	Inventory	 	 	433,751
	 LIBERTY COATERS
	 	2635 5th Av N	 	Birmingham	 	AL	 	35020	 	Third Party Offsite	 	Liberty Coating Alabama, LLC	 		 	Inventory	 	 	623,208
	 Denver Stockyard
	 	9850 Havana Street	 	Irondale	 	CO	 	80640	 	Leased	 	Cast Transportation, Inc.	 	409	 	Inventory	 	 	283,068
	 Pompano Stockyard
	 	1263 Hammondville Rd	 	Pompano
Beach	 	Fl	 	33069	 	Leased	 	Matco Stone Center, Inc.	 	1,300	 	Inventory	 	 	72,341
	 Fontana Stockyard
	 	13560 Whittram Avenue	 	Fontana	 	CA	 	92335	 	Leased	 	Dalton Trucking, Inc.	 	900	 	Inventory	 	 	137,901
	 GRIPPER STOCK
	 	7500-A Shadwell Dr.	 	Roanoke	 	VA	 	24019	 	Third Party Offsite	 	Valley Machine Company, Inc.	 		 	Inventory	 	 	—  
	 BENTON FOUNDRY INC/VALLEY
	 	7500-A Shadwell Dr.	 	Roanoke	 	VA	 	24019	 	Third Party Offsite	 	Valley Machine Company, Inc.	 		 	Inventory	 	 	76,496
	 C & B PIPING INC
	 	8804 Parkway Dr.	 	Leeds	 	AL	 	35094	 	Third Party Offsite	 	C&B Piping, Inc.	 		 	Inventory	 	 	11,350
	 Kansas Ctiy Stockyard
	 	12th Street Yard	 	Kansas City	 	MO	 	64108	 	Leased	 	Central Missouri Reload, Inc.	 	933	 	Inventory	 	 	5,660
	 ACIPCO
	 	1501 31st Av N	 	Birmingham	 	AL	 	35207	 	Third Party Offsite	 	American Cast Iron Pipe Company	 		 	Inventory	 	 	—  
	 GULF RUBBER AUSTRALIA PTY LTD
	 		 		 		 		 	Third Party Offsite - Foreign	 	NA	 		 	Inventory	 	 	15,169
	
	Fast Fabricators LLC
										
	 Location Name
	 	 Street Address
	 	City	 	State	 	Zip-Code	 	 Status
	 	 Legal Name of

Lease Holder or

Third Party
	 	Monthly Lease
Amount $	 	 Collateral
	 	Inventory Value
	 Virginia
	 	11622 Lucky Hill Road	 	Remington	 	VA	 	22734	 	leased	 	T.P. Developed Parcel LLC.	 	21,000	 	Inventory	 	$	2,051,690
	 Texas
	 	800 Burlinton Road	 	Saginaw	 	TX	 	76179	 	leased	 	“ Burltex Partners, LLC - Bldg & land	 	8,450	 	Inventory	 	 	1,414,488
	 Florida
	 	1515 SW 12th Avenue	 	Ocala	 	FL	 	34474	 	leased	 	“ Pennco, LLC - Bldg & land	 	13,215	 	Inventory	 	 	1,374,705
	 Marysville
	 	3387 Plumas-Arboga Road	 	Olivehurst	 	CA	 	95901	 	leased	 	Rios Partnership I, LLC	 	12,598	 	Inventory	 	 	917,174
	 Oregon
	 	4827 NW Front Avenue	 	Portland	 	OR	 	97210	 	leased	 	B.D.C. Properties, LLC	 	7,313	 	Inventory	 	 	900,405
	 Fontana
	 	15467 Valencia Avenue	 	Fontana	 	CA	 	92335	 	leased	 	Mark E. Kirkland and Tnya L. Kirkland	 	9.841	 	Inventory	 	 	709,878
	 New Jersey
	 	200 Rhawn Street	 	Delanco	 	NJ	 	08075	 	leased	 	Hovbros Delanco LLC	 	3,500	 	Inventory	 	 	483,104
	 South Carolina
	 	1622 Tow Notch Road	 	Lexington	 	SC	 	29073	 	leased	 	Aftermarket, LLC	 	5,875	 	Inventory	 	 	411,452
	 Corporate
	 	6a Northwood Drive	 	Bloomfield	 	CT	 	06002	 	leased	 	Blake Johnson Property Management, LLC	 	1,700	 	Books and Records	 	 	N/A
	 Northeast
	 	8 East Newberry Road	 	Bloomfield	 	CT	 	06002	 	leased	 	Blake Johnson Property Management, LLC	 	4,793	 	Inventory	 	 	712,568
	 Kentucky
	 	164 Hamilton Court	 	Louisville	 	KY	 	40229	 	leased	 	Rivertown Partners	 	4,200	 	Inventory and AR	 	 	384,000
	 Kansas
	 	1534 North Industrial Blvd	 	Ottawa	 	KS	 	66067	 	leased	 	REES FAMILY LIMITED PARTNERSHIP	 	5,417	 	Inventory	 	 	360,215
	 Ohio
	 	327 Curtis St	 	Delaware	 	OH	 	43015	 	Third Party Offsite	 	Utility Solutions Inc.	 		 	Inventory	 	 	12,000
	
	Mueller Co. Ltd.
										
	 Location Name
	 	 Street Address
	 	City	 	State	 	Zip-Code	 	 Status
	 	 Legal Name of

Lease Holder or

Third Party
	 	Monthly Lease
Amount $	 	 Collateral
	 	Inventory Value
	 Cleveland TN
	 	155 Enterprise Drive	 	Cleveland	 	TN	 	37311	 	Owned	 		 		 	Inventory	 		
	 Murfreesboro
	 	2531 South Church Street	 	Murfreesboro	 	TN	 	37130	 	Leased	 	Mitchel Hunt	 	7,025	 	Empty	 	 	N/A

																				
	Mueller Co. Ltd.
										
	 Location Name
	 	 Street Address
	 	City	 	State	 	Zip-Code	 	 Status
	 	 Legal Name of

Lease Holder or

Third Party
	 	Monthly Lease
Amount $	 	 Collateral
	 	Inventory Value
	 Hauppauge NY
	 	923 Motor Parkway	 	Hauppauge	 	NY	 	11788	 	Third Party Offsite	 	LCA Associates	 		 	Inventory	 	$	114,000
	 Brownsville, TX
	 	3351 FM 802	 	Brownsville	 	TX	 	78526	 	Leased	 	C.H. Thirlwall	 	20,000	 	Inventory	 	 	2,747,000
	 Mueller Co. Decatur
	 	500 W. Eldorado Street	 	Decatur	 	IL	 	62522	 	Owned	 		 		 	Books and Records	 	 	N/A
	 Mueller Co. Decatur Plant
	 	1226 E. Garfield Street	 	Decatur	 	IL	 	62526	 	Owned	 		 		 	Inventory	 	 	17,978,000
	 Mueller Co. Chattanooga
	 	1401 Mueller Avenue	 	Chattanooga	 	TN	 	37406	 	Owned	 		 		 	Inventory	 	 	14,154,000
	 Mueller Co Cleveland TN
	 	620 Industrial Drive SW	 	Cleveland	 	TN	 	37311	 	Owned	 		 		 	Inventory	 	 	7,561,000
	 Mueller Co. Albertville
	 	956 Industrial Blvd	 	Albertville	 	AL	 	35950	 	Leased	 	Industrial Development Board c/o Albertville	 	1,125	 	Inventory	 	 	20,170,000
	 Henry Pratt Aurora
	 	401 S. Highland Avenue	 	Aurora	 	IL	 	60506	 	Owned	 		 		 	Inventory	 	 	12,883,000
	 Henry Pratt Highland
	 	311 Highland	 	Aurora	 	IL	 	60506	 	Leased	 	Shetland Properties of Aurora, LLC	 	31,960	 	Inventory	 		
	 Henry Pratt Hammond
	 	403 Conkey Street	 	Hammond	 	IN	 	46324	 	Owned	 		 		 	Inventory	 	 	3,144,000
	 Hersey Meters Co., LLC
	 	10230 Statesville Blvd	 	Cleveland	 	NC	 	27013	 	Owned	 		 		 	Inventory	 	 	11,778,000
	 Mueller Systems, LLC
	 	48 Leona Drive	 	Middleborough	 	MA	 	02346	 	Leased	 	Campanelli Middleborough II LLC	 	7,097	 	Inventory	 		
	 Hydro Gate, LLC
	 	1705 Billy Mitchell Blvd., Suite A	 	Brownsville	 	TX	 	78521	 	Leased	 	Border Mfg. Contractors , LLC	 	14,000	 	Inventory	 	 	4,642,000
	 James Jones Company, LLC
	 	1470 South Vintage Avenue	 	Ontario	 	CA	 	91761	 	Leased	 	Vogel Engineers, Inc.	 	42,000	 	Inventory	 	 	6,698,000
	 Milliken Valve, LLC
	 	2625 Brodhead Road	 	Bethlehem	 	PA	 	18020	 	Leased	 	Bethlehem Crossing Ltd.	 	44,893	 	Inventory	 	 	7,717,000
	 Mueller Co - Albertville
	 	1001 River Oaks Rd	 	Boaz,	 	AL	 	35957	 	Third Party Offsite	 	Johnson Machine & Tool	 		 	Inventory	 	 	Note(1)
	 Mueller Co - Albertville
	 	814 Hill Rose Avenue,	 	Dayton	 	OH	 	45404	 	Third Party Offsite	 	Hohman Plating & Coating	 		 	Inventory	 	 	Note(1)
	 Mueller Co - Albertville
	 	PO BOX 3129	 	Shawnee	 	OK	 	74801	 	Third Party Offsite	 	Georg Fischer Central Plastics, LLC	 		 	Inventory	 	 	Note(1)
	 Mueller Co - Albertville
	 	Route 121 & Vine St.,	 	Mt. Pulaski	 	IL	 	62548	 	Third Party Offsite	 	Inland Tool Company	 		 	Inventory	 	 	Note(1)
	 Mueller Co - Albertville
	 	105 West Sanderfer Road	 	Athens	 	AL	 	35611	 	Third Party Offsite	 	Carolina Commercial Heat Treating, Inc.	 		 	Inventory	 	 	Note(1)
	 Mueller Co - Albertville
	 	1690 Hwy 138 N.E	 	Conyers	 	GA	 	30013	 	Third Party Offsite	 	Carolina Commercial Heat Treating, Inc.	 		 	Inventory	 	 	Note(1)
	 Mueller Co - Albertville
	 	PO Box 1128,	 	Anniston	 	AL	 	36202	 	Third Party Offsite	 	Associated Metal Cast, Inc.	 		 	Inventory	 	 	Note(1)
	 Mueller Co - Albertville
	 	2693 Chattanooga Valley Rd,	 	Flintstone	 	GA	 	30725	 	Third Party Offsite	 	Lookout Metal Works, LLC	 		 	Inventory	 	 	Note(1)
	 Mueller Co - Albertville
	 	500 Highway 70,	 	Columbiana	 	AL	 	35051	 	Third Party Offsite	 	Vulcan Electro-Coating, Inc.	 		 	Inventory	 	 	Note(1)
	 Mueller Co - Albertville
	 	3400 Stanwood Blvd.,	 	Hunstville	 	AL	 	35811	 	Third Party Offsite	 	United Plating	 		 	Inventory	 	 	Note(1)
	 Mueller Co - Albertville
	 	2030 Barry Street,	 	Oxford	 	AL	 	36203	 	Third Party Offsite	 	Oxford Plating Co.	 		 	Inventory	 	 	Note(1)
	 Mueller Co - Albertville
	 	PO Box 1463,	 	Birmingham	 	AL	 	35201	 	Third Party Offsite	 	Metalplate Galvanizing, L.P.	 		 	Inventory	 	 	Note(1)
	 Mueller Co - Decatur
	 	153 North Fifth (Coalton) PO Box 220	 	Nokomis	 	IL	 	62075	 	Third Party Offsite	 	All Precision Manufacturing	 		 	Inventory	 	 	Note(1)
	 Mueller Co - Decatur
	 	5711 W. Park Ave	 	St. Louis	 	MO	 	63110	 	Third Party Offsite	 	Paulo	 		 	Inventory	 	 	Note(1)
	 Mueller Co - Decatur
	 	4827 Chelsea	 	Kansas City	 	MO	 	64130	 	Third Party Offsite	 	Paulo	 		 	Inventory	 	 	Note(1)
	 Mueller Co - Decatur
	 	1211 Anvil Drive	 	Rockford	 	IL	 	61115	 	Third Party Offsite	 	C&R	 		 	Inventory	 	 	Note(1)
	 Mueller Co - Decatur
	 	1351 Windsor Road	 	Loves Park	 	IL	 	61132	 	Third Party Offsite	 	Gleason	 		 	Inventory	 	 	Note(1)
	 Mueller Co - Decatur
	 	1147 E. Garfield Ave	 	Decatur	 	IL	 	62526	 	Third Party Offsite	 	Decatur Plating	 		 	Inventory	 	 	Note(1)
	 Mueller Co - Decatur
	 	465 E. Briscoe	 	Morris	 	IL	 	60450	 	Third Party Offsite	 	Micro Surface	 		 	Inventory	 	 	Note(1)
	 Mueller Co - Decatur
	 	1830 Woodslee	 	Troy	 	MI	 	48083	 	Third Party Offsite	 	J&S Acromatic	 		 	Inventory	 	 	Note(1)
	 Mueller Co - Decatur
	 	2520 Parkway Ct. PO Box 1485	 	Decatur	 	IL	 	62525	 	Third Party Offsite	 	DATCO	 		 	Inventory	 	 	Note(1)
	 Mueller Co - Decatur
	 	2007 Kishwaukee St	 	Rockford	 	IL	 	61104	 	Third Party Offsite	 	Rogers Bros	 		 	Inventory	 	 	Note(1)
	 Mueller Co - Decatur
	 	3908 Morrison Drive	 	Gurnee	 	IL	 	60031	 	Third Party Offsite	 	Gallagher	 		 	Inventory	 	 	Note(1)
	 Mueller Co - Decatur
	 	9447 W. Seymour	 	Schiller Park	 	IL	 	60176	 	Third Party Offsite	 	Inland Broaching	 		 	Inventory	 	 	Note(1)
	 Mueller Co - Decatur
	 	2020 E. Locust St	 	Decatur	 	IL	 	62521	 	Third Party Offsite	 	Decatur Machine and Tool	 		 	Inventory	 	 	Note(1)
	 Mueller Co - Decatur
	 	One Shorr Court	 	Woonsocket	 	IL	 	02895	 	Third Party Offsite	 	CHN Anodizing	 		 	Inventory	 	 	Note(1)
	 Mueller Co - Decatur
	 	1395 S. Taylorville Rd	 	Decatur	 	IL	 	62521	 	Third Party Offsite	 	Barton Mfg	 		 	Inventory	 	 	Note(1)
	 Mueller Co - Decatur
	 	1645 N. Railroad Ave PO Box 3577	 	Decatur	 	IL	 	62526	 	Third Party Offsite	 	Mason Mfg	 		 	Inventory	 	 	Note(1)
	 Mueller Co - Decatur
	 	1044 Spring Bay Road	 	East Peoria,	 	IL	 	61611	 	Third Party Offsite	 	Boley Tool	 		 	Inventory	 	 	Note(1)
	 Mueller Co - Decatur
	 	2121 Hubbard Ave PO Box 2760	 	Decatur	 	IL	 	62526	 	Third Party Offsite	 	Macon Resources	 		 	Inventory	 	 	Note(1)
	 Mueller Co - Decatur
	 	455 Atwater St PO Box 19	 	Plantsville	 	CT	 	06479	 	Third Party Offsite	 	Supreme Lake	 		 	Inventory	 	 	Note(1)
	 Mueller Co - Decatur
	 	813 E. North St	 	Decatur	 	IL	 	62521	 	Third Party Offsite	 	Graham Welding	 		 	Inventory	 	 	Note(1)
	 Mueller Systems
	 	2705 Quality lane	 	Brownsville	 	TX	 	78520	 	Third Party Offsite	 	Nova Link	 		 	Inventory	 	 	Note(1)
	 Mueller Systems
	 	18 Kendrick Rd	 	Warham	 	MA	 	20571	 	Third Party Offsite	 	J&J Technologies	 		 	Inventory	 	 	Note(1)
	 Mueller Systems
	 	214 Plyler Rd	 	Indian Trail	 	NC	 	28079	 	Third Party Offsite	 	Coatings Technologies, Inc	 		 	Inventory	 	 	Note(1)
	 Mueller Systems
	 	7350 Dry Creek Parkway	 	Longmont	 	CO	 	80503	 	Third Party Offsite	 	PTA Corporation	 		 	Inventory	 	 	Note(1)
	 Mueller Systems
	 	1135 Old Greensboro Road	 	Kernersville	 	NC	 	27284	 	Third Party Offsite	 	PAM Trading Corporatioin	 		 	Inventory	 	 	Note(1)
	 Mueller Systems
	 	115 South 16th St	 	Quakertown	 	PA	 	18951	 	Third Party Offsite	 	Associated Rubber, Inc	 		 	Inventory	 	 	Note(1)
	 Mueller Systems
	 	2100 W Broad St	 	Elizabethtown	 	NC	 	28837	 	Third Party Offsite	 	Danaher Controls	 		 	Inventory	 	 	Note(1)
	 Mueller Systems
	 	425 Qunicy Ave	 	Shennandoah	 	VA	 	22849	 	Third Party Offsite	 	KVK Precision Specialties	 		 	Inventory	 	 	Note(1)
	 Henry Pratt Company LLC
	 	405 E. Lafayette St.	 	Somonauk	 	IL	 	60552	 	Third Party Offsite	 	American Machining	 		 	Inventory	 	 	Note(1)
	 Henry Pratt Company LLC
	 	17035 Burham Avenue	 	Lansing	 	IL	 	60438	 	Third Party Offsite	 	American Machine Works	 		 	Inventory	 	 	Note(1)
	 Henry Pratt Company LLC
	 	24 Gastville St.	 	Aurora	 	IL	 	60504	 	Third Party Offsite	 	B&B Machining	 		 	Inventory	 	 	Note(1)
	 Henry Pratt Company LLC
	 	7728 E 14th	 	Brownsville	 	TX	 	78521	 	Third Party Offsite	 	Balch Manufacturing	 		 	Inventory	 	 	Note(1)

																				
	Mueller Co. Ltd.
										
	 Location Name
	 	 Street Address
	 	City	 	State	 	Zip-Code	 	 Status
	 	 Legal Name of

Lease Holder or

Third Party
	 	Monthly Lease
Amount $	 	 Collateral
	 	Inventory Value
	 Henry Pratt Company LLC
	 	2125 Gardner Road	 	Broadview	 	IL	 	60155	 	Third Party Offsite	 	BL Downey	 		 	Inventory	 	 	Note(1)
	 Henry Pratt Company LLC
	 	2527 State Street	 	Bettendorf	 	IA	 	52722	 	Third Party Offsite	 	Bowe Mfg.	 		 	Inventory	 	 	Note(1)
	 Henry Pratt Company LLC
	 	600 Mayer Street	 	Bridgeville	 	PA	 	15017	 	Third Party Offsite	 	Carpenter Powder Technologies	 		 	Inventory	 	 	Note(1)
	 Henry Pratt Company LLC
	 	611 Phoenix Court	 	Aurora	 	IL	 	60606	 	Third Party Offsite	 	ControlMatic	 		 	Inventory	 	 	Note(1)
	 Henry Pratt Company LLC
	 	2707 N. Main St.	 	Rockford	 	IL	 	61103	 	Third Party Offsite	 	Crown Machine	 		 	Inventory	 	 	Note(1)
	 Henry Pratt Company LLC
	 	895 Shop Road	 	Dixon	 	IL	 	61021	 	Third Party Offsite	 	Custom Machine	 		 	Inventory	 	 	Note(1)
	 Henry Pratt Company LLC
	 	Hwy 78 West	 	Oxford	 	AL	 	36203	 	Third Party Offsite	 	Cooper Tool	 		 	Inventory	 	 	Note(1)
	 Henry Pratt Company LLC
	 	P.O. Box 383, 1134 W. South St.	 	Kewanee	 	IL	 	61443	 	Third Party Offsite	 	KD Industries	 		 	Inventory	 	 	Note(1)
	 Henry Pratt Company LLC
	 	198 Poplar Street North	 	Aurora	 	IL	 	60542	 	Third Party Offsite	 	Fox Valley Machine	 		 	Inventory	 	 	Note(1)
	 Henry Pratt Company LLC
	 	119 Koomler Drive	 	LaPorte	 	IN	 	46350	 	Third Party Offsite	 	Industrial Pattern Works	 		 	Inventory	 	 	Note(1)
	 Henry Pratt Company LLC
	 	11755 S. Austin Ave.	 	Alsip	 	IL	 	60803	 	Third Party Offsite	 	Kocsis Brothers Machine Co.	 		 	Inventory	 	 	Note(1)
	 Henry Pratt Company LLC
	 	5681 11th Street	 	Rockford	 	IL	 	61109	 	Third Party Offsite	 	Lunquist Machining	 		 	Inventory	 	 	Note(1)
	 Henry Pratt Company LLC
	 	910 E Burnett	 	Island Lake	 	IL	 	60042	 	Third Party Offsite	 	Madden Ventures	 		 	Inventory	 	 	Note(1)
	 Henry Pratt Company LLC
	 	3301 South Central Ave.	 	Cicero	 	IL	 	60804	 	Third Party Offsite	 	MAH Machine	 		 	Inventory	 	 	Note(1)
	 Henry Pratt Company LLC
	 	11 Cody Street	 	Elmwood	 	CT	 	06110	 	Third Party Offsite	 	Metalizing Service	 		 	Inventory	 	 	Note(1)
	 Henry Pratt Company LLC
	 	1301 South Laramie Avenue	 	Cicero	 	IL	 	60804	 	Third Party Offsite	 	Milan Machining & Mfg Co	 		 	Inventory	 	 	Note(1)
	 Henry Pratt Company LLC
	 	987 S. Lively Blvd.	 	Elk Grove
Village	 	IL	 	60007	 	Third Party Offsite	 	Mirco	 		 	Inventory	 	 	Note(1)
	 Henry Pratt Company LLC
	 	90 Bissel Street	 	Joliet	 	IL	 	60432	 	Third Party Offsite	 	OmniGear	 		 	Inventory	 	 	Note(1)
	 Henry Pratt Company LLC
	 	161 Tower Dr. Unit B	 	Burr Ridge	 	IL	 	60527	 	Third Party Offsite	 	Paul Machine	 		 	Inventory	 	 	Note(1)
	 Henry Pratt Company LLC
	 	1821 N. 30th Ave	 	Melrose
Park	 	IL	 	60160	 	Third Party Offsite	 	Pride Machine and Tool	 		 	Inventory	 	 	Note(1)
	 Henry Pratt Company LLC
	 	8119 S. Charles St.	 	Savanna	 	IL	 	61074	 	Third Party Offsite	 	Reliable Engineering	 		 	Inventory	 	 	Note(1)
	 Henry Pratt Company LLC
	 	303 Mound Road Units 7&8	 	Rockdale	 	IL	 	60436	 	Third Party Offsite	 	Resist-a-line	 		 	Inventory	 	 	Note(1)
	 Henry Pratt Company LLC
	 	1211 Louis Avenue	 	Elk Grove
Village	 	IL	 	60007	 	Third Party Offsite	 	Rode Welding	 		 	Inventory	 	 	Note(1)
	 Henry Pratt Company LLC
	 	1985 Aucult Rd,	 	Montgomery	 	IL	 	60538	 	Third Party Offsite	 	Sandwich Machine and Casting	 		 	Inventory	 	 	Note(1)
	 Henry Pratt Company LLC
	 	719 Morton Ave.	 	Aurora	 	IL	 	60506	 	Third Party Offsite	 	Share Machine	 		 	Inventory	 	 	Note(1)
	 Henry Pratt Company LLC
	 	1570 N. Commerce	 	Brookfield	 	WI	 	53045	 	Third Party Offsite	 	Trace-A-Matic	 		 	Inventory	 	 	Note(1)
	 Henry Pratt Company LLC
	 	50W485 Rte 64	 	Sycamore	 	IL	 	60178	 	Third Party Offsite	 	Unique Products	 		 	Inventory	 	 	Note(1)
	 Henry Pratt Company LLC
	 	1836 North Lockwood	 	Chicago	 	IL	 	60639	 	Third Party Offsite	 	VP Plating	 		 	Inventory	 	 	Note(1)
	 Henry Pratt Company LLC
	 	101 W. Illinois Street	 	Aurora	 	IL	 	60506	 	Third Party Offsite	 	Valley Precision Steel	 		 	Inventory	 	 	Note(1)
	 Henry Pratt Company LLC
	 	120 Industrial Park Road	 	Cascade	 	IA	 	52033	 	Third Party Offsite	 	Webber Metals	 		 	Inventory	 	 	Note(1)
	 Mueller Co - Chattanooga
	 	4511 Dodds Avenue,	 	Chattanooga	 	TN	 	37407	 	Third Party Offsite	 	ANDERSON MACHINE	 		 	Inventory	 	 	Note(1)
	 Mueller Co - Chattanooga
	 	116A Industrial Court,	 	Conroe	 	TX	 	77301	 	Third Party Offsite	 	APPLIED RUBBER	 		 	Inventory	 	 	Note(1)
	 Mueller Co - Chattanooga
	 	95 First Street,	 	Ft.
Oglethorpe	 	GA	 	30742	 	Third Party Offsite	 	A-TECH MACHINE	 		 	Inventory	 	 	Note(1)
	 Mueller Co - Chattanooga
	 	P.O. Box 5271,	 	Chattanooga	 	TN	 	37406	 	Third Party Offsite	 	C AND E MACHINE	 		 	Inventory	 	 	Note(1)
	 Mueller Co - Chattanooga
	 	600 Foundry Road,	 	Calera	 	AL	 	35040	 	Third Party Offsite	 	GLIDEWELL	 		 	Inventory	 	 	Note(1)
	 Mueller Co - Chattanooga
	 	3500 Dodds Avenue,	 	Chattanooga	 	TN	 	37407	 	Third Party Offsite	 	GOODWILL	 		 	Inventory	 	 	Note(1)
	 Mueller Co - Chattanooga
	 	P.O. Box 11027,	 	Chattanooga	 	TN	 	37401	 	Third Party Offsite	 	KENCO	 		 	Inventory	 	 	Note(1)
	 Mueller Co - Cleveland
	 	755 Dunford Lane,	 	Allardt	 	TN	 	38504	 	Third Party Offsite	 	Triple D	 		 	Inventory	 	 	Note(1)
	 Mueller Co - Cleveland
	 	364 Industrial Park Drive,	 	Mt Juliet	 	TN	 	37122	 	Third Party Offsite	 	Dahlman Industries	 		 	Inventory	 	 	Note(1)
	 Mueller Co - Cleveland
	 	256 Benjamin H Hill Drive SE,	 	Fitzgerald	 	GA	 	31750	 	Third Party Offsite	 	Custom Profiles	 		 	Inventory	 	 	Note(1)
	 Hydro Gate LLC
	 	4876 McKenzie Street	 	Brownsville	 	TX	 	78521	 	Third Party Offsite	 	Abrego Paint	 		 	Inventory	 	 	Note(1)
	 Hydro Gate LLC
	 	7728 Padre Island Hwy	 	Brownsville	 	TX	 	78521	 	Third Party Offsite	 	Balch Machine Co. Inc.	 		 	Inventory	 	 	Note(1)
	 Hydro Gate LLC
	 	3320 East 14th Street	 	Brownsville	 	TX	 	78521	 	Third Party Offsite	 	Border Manufacturing Company	 		 	Inventory	 	 	Note(1)
	 Hydro Gate LLC
	 	3772 Puritan Way #17	 	Frederick	 	CO	 	80516	 	Third Party Offsite	 	CWF Precision Machine	 		 	Inventory	 	 	Note(1)
	 Hydro Gate LLC
	 	5680 Pecos Street	 	Denver	 	CO	 	80221	 	Third Party Offsite	 	Longero, Inc.	 		 	Inventory	 	 	Note(1)
	 Hydro Gate LLC
	 	299 Gilliam Street	 	Corpus
Christi	 	TX	 	78409	 	Third Party Offsite	 	Maintech International LLC	 		 	Inventory	 	 	Note(1)
	 Hydro Gate LLC
	 	6001 North Washington Street	 	Denver	 	CO	 	80216	 	Third Party Offsite	 	Mile Hi Metal Foundry	 		 	Inventory	 	 	Note(1)
	 Hydro Gate LLC
	 	P.O. Box 1006 680 East 11th Street	 	Tacoma	 	WA	 	98421	 	Third Party Offsite	 	Nicholson Engineering	 		 	Inventory	 	 	Note(1)
	 Hydro Gate LLC
	 	P.O. Box 1417	 	Loveland	 	CO	 	80539	 	Third Party Offsite	 	Ron Grob Company	 		 	Inventory	 	 	Note(1)
	 Hydro Gate LLC
	 	825 North Minnesota	 	Brownsville	 	TX	 	78521	 	Third Party Offsite	 	South Machine Shop	 		 	Inventory	 	 	Note(1)
	
	Note (1) Value of Offsite Inventory is included in the value for the location noted in column B
	
	Anvil International LP
										
	 Location Name
	 	 Street
Address
	 	City	 	State	 	Zip-Code	 	 Status
	 	 Legal Name of

Lease Holder or

Third Party
	 	Monthly Lease
Amount $	 	 Collateral
	 	Inventory Value
	 Irving TX RSC
	 	1401 Valley View Lane, Suite 150	 	Irving	 	TX	 	75061	 	Leased	 	Proterra PCP Portfolio III LP	 	88,671	 	Inventory	 	$	16,713,008.00
	 University Park IL RSC
	 	750 Central Avenue	 	University
Park	 	IL	 	60484	 	Leased	 	Net Lease Investments I, LLC	 	51,576	 	Inventory and AR	 	 	13,088,445
	 Columbia PA RSC
	 	800 Malleable Road	 	Columbia	 	PA	 	17512	 	Owned	 		 		 	Inventory	 	 	14,129,090

  

																			
	Anvil International LP
										
	 Location Name
	 	 Street Address
	 	City	 	State	 	Zip-Code	 	 Status
	 	 Legal Name of

Lease Holder or

Third Party
	 	Monthly Lease
Amount $	 	 Collateral
	 	Inventory Value
	 Sparks NV RSC
	 	1385 Greg Street	 	Sparks	 	NV	 	89431	 	Leased	 	Northwestern Investment Management Company d/b/a Sparks Industrial	 	50,582	 	Inventory	 	7,325,880
	 Rotterdam - Netherlands
	 	Van Harenstraat 1 - 5145 RH Waalwijk	 	Rotterdam	 	The
Netherlands	 		 	Third Party Offsite - Foreign	 		 		 	Inventory	 	5,159,255
	 North Kingstown, RI
	 	160 Frenchtown Road	 	North
Kingstown	 	RI	 	02852	 	Leased	 	Orix Capital Markets	 	42,912	 	Inventory and AR	 	5,580,381
	 Columbia PA
	 	1411 Lancaster Avenue	 	Columbia	 	PA	 	17512	 	Owned	 		 		 	Inventory	 	5,901,356
	 Longview Plant
	 	305 Simms Road	 	Longview	 	TX	 	75604	 	Owned	 		 		 	Inventory	 	2,696,086
	 Beck - Greencastle
	 	9170 Molly Pitcher HWY	 	Greencastle	 	PA	 	17225	 	Owned	 		 		 	Inventory	 	3,134,734
	 Henderson
	 	2870 Old Jackson Road	 	Henderson	 	TN	 	38340	 	Owned	 		 		 	Inventory	 	1,927,651
	 Beck - Waynesboro
	 	330East Ninth Street	 	Waynesboro	 	PA	 	17268	 	Owned	 		 		 	Inventory and AR	 	750,248
	 Odessa TX
	 	2600 West 42nd Street	 	Odessa	 	TX	 	79764	 	Leased	 	T.T. Partnership Inc.	 	3,800	 	Inventory	 	1,178,401
	 Houston TX
	 	6999 Old Clinton Road	 	Houston	 	TX	 	77020	 	Owned	 		 		 	Inventory	 	783,715
	 Marshall-Rodeno Denver CO
	 	5700 E 39th Avenue	 	Denver	 	CO	 	80207	 	Third Party Offsite	 		 		 	Inventory	 	1,166,557
	 Merit
	 	319 Circle of Progress	 	Pottsdown	 	PA	 		 	Owned/Leased	 		 		 	Inventory	 	567,463
	 Bloomington MN
	 	1201 West 96th Street	 	Bloomington	 	MN	 	55431	 	Owned	 		 		 	Inventory	 	726,034
	 Ontario, CA
	 	1470 S. Vintage Avenue	 	Ontario	 	CA	 	91761	 	Leased - Interco*	 		 	17,000	 	Inventory	 	697,694
	 North Kansas City MO
	 	1930 Warren Street	 	N. Kansas
City	 	MO	 	64116	 	Leased	 	Colbalt Industrial REIT	 	15,015	 	Inventory	 	613,338
	 Duluth, GA
	 	2625 N. Berkeley Lake Drive, Bld. 200, Ste. 450	 	Duluth	 	GA	 	30096	 	Leased	 	Crossroads I Limited Liability Co.	 	8,107	 	Inventory	 	697,740
	 JB Smith
	 	6618 Navigation Blvd	 	Houston	 	TX	 		 	Owned	 		 		 	Inventory	 	618,866
	 Southern CA Gas Fullerton
	 	795 Gable Way	 	El Cajon	 	CA	 	92020	 	Third Party Offsite	 		 		 	Inventory	 	405,241
	 Mfr Reps & District Svc Agents
	 	6655 Corners Industrial Court	 	Norcross	 	GA	 	30092	 	Third Party Offsite	 		 		 	Inventory	 	279,722
	 N. Kingstown - Houston FAB (1)
	 	6999 Old Clinton Road	 	Houston	 	Houston,
TX	 	77020	 	Owned	 		 		 	Inventory	 	297,688
	 Madrid Spain
	 	UPS SCS Jeune Rd. Auda Dec Sistema Solar, 17 Parque Technologico	 	Madrid	 	Spain	 		 	Third Party Offsite - Foreign	 		 		 	Inventory	 	182,562
	 David Gooding Brocton MA
	 	173 Spark St.	 	Brockton	 	MA	 	02302	 	Third Party Offsite	 		 		 	Inventory	 	225,321
	 Mid America Marketing Agent
	 	1364 Foster Ave.	 	Nashville	 	TN	 	37210	 	Third Party Offsite	 		 		 	Inventory	 	73,073
	 Southwestern Ind Sales
	 	1440 West San Pedro St.	 	Gilbert	 	AZ	 	85233	 	Third Party Offsite	 		 		 	Inventory	 	44,904
	 Guam
	 	153 East Segundo L.G. St.	 	Tamuning	 	Guam	 	96913	 	Third Party Offsite	 		 		 	Inventory	 	69,784

  

 SCHEDULE 5.01 

GOOD STANDING AND 

FOREIGN QUALIFICATION JURISDICTIONS 
  

					
	 Borrowers
	  	 State of Formation/

Good Standing

Jurisdiction
	  	 State(s) of Foreign

Qualification

	Mueller Water Products, Inc.	  	Delaware	  	Florida, Georgia
			
	Anvil International, LP	  	Delaware	  	 Arizona, California, Colorado, Florida, Georgia, Illinois, Indiana, Louisiana, Massachusetts, Michigan,

 Minnesota, Missouri, North Carolina, New Hampshire, New Jersey, Nevada, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island,

 Tennessee, Texas

			
	AnvilStar, LLC	  	Delaware	  	Texas
			
	Fast Fabricators, LLC	  	Delaware	  	Oregon, Texas, South Carolina, Connecticut, Florida, Kansas, California, New Jersey, Kentucky, Virginia
			
	Henry Pratt Company, LLC	  	Delaware	  	Illinois, Indiana, New Jersey, Pennsylvania, Texas, Virginia
			
	Hersey Meters Co., LLC	  	Delaware	  	California, Hawaii, Maryland, North Carolina, Texas
			
	Hunt Industries, LLC	  	Delaware	  	Tennessee
			
	Hydro Gate, LLC	  	Delaware	  	Colorado, Illinois, Texas
			
	J.B. Smith Mfg Co., LLC	  	Delaware	  	Texas
			
	James Jones Company, LLC	  	Delaware	  	California, Texas
			
	Milliken Valve, LLC	  	Delaware	  	Pennsylvania
			
	Mueller Co. Ltd.	  	Alabama	  	California, Florida, Georgia, Illinois, Maryland, Missouri, Pennsylvania, Tennessee, Texas
			
	Mueller Group, LLC	  	Delaware	  	Illinois, New Hampshire, Rhode Island, Texas
			
	Mueller International, Inc.	  	Delaware	  	None
			
	Mueller Service California, Inc.	  	Delaware	  	California
			
	Mueller Service Co., LLC	  	Delaware	  	Arizona, Florida, Georgia, Missouri, Rhode Island

					
	 Borrowers
	  	 State of Formation/

Good Standing

Jurisdiction
	  	 State(s) of Foreign

Qualification

	 Mueller Systems LLC
	  	Delaware	  	Massachusetts
			
	 United States Pipe and Foundry Company, LLC
	  	Alabama	  	Arizona, California, Colorado, Florida, Georgia, Hawaii, Illinois, Indiana, Kansas, Massachusetts, Maryland, Michigan, Minnesota, Missouri, Mississippi, North
Carolina, New Jersey, New York, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Texas, Washington, Tennessee
			
	 U.S. Pipe Valve & Hydrant, LLC
	  	Delaware	  	Arizona, California, Florida, Georgia, Illinois, Iowa, Maine, New York, Ohio, Oklahoma, Texas, Washington, Wisconsin

 

 SCHEDULE 6.06 

LITIGATION 

We are involved in various legal proceedings that have arisen in the normal course of operations, including the proceedings summarized
below. We accrue expenses relating to these matters when a loss is probable and the amount is reasonably estimable. We expense administrative and defense costs related to these matters as incurred. The effect of the outcome of these matters on our
future results of operations cannot be predicted with certainty as any such effect depends on future results of operations and the amount and timing of the resolution of such matters. Other than the litigation described below, we do not believe that
any of our outstanding litigation would have a material adverse effect on our businesses, operations or prospects. 

Environmental. We are subject to a wide variety of laws and regulations concerning the protection of the environment, both with
respect to the operation of many of our plants and with respect to remediating environmental conditions that may exist at our and other properties. We strive to comply with federal, state and local environmental laws and regulations. We accrue for
environmental expenses resulting from existing conditions that relate to past operations when the costs are probable and reasonably estimable. 

In September 1987, we implemented an Administrative Consent Order (“ACO”) for our Burlington plant that was required under the
New Jersey Environmental Cleanup Responsibility Act (now known as the Industrial Site Recovery Act). The ACO required soil and ground water cleanup, and we have completed, and have received final approval on, the soil cleanup required by the ACO. We
are continuing to monitor ground water at this site. Further remediation could be required. Long-term ground water monitoring is also required to verify natural attenuation. We do not know how long ground water monitoring will be required and do not
believe monitoring or further remediation costs will have a material adverse effect on our consolidated financial condition or results of operations. 

In June 2003, Solutia Inc. and Pharmacia Corporation (collectively “Solutia”) filed suit against U.S. Pipe and a number of
co-defendant foundry-related companies in the U.S. District Court for the Northern District of Alabama for contribution and cost recovery allegedly incurred and to be incurred by Solutia in performing remediation of polychlorinated biphenyls
(“PCBs”) and heavy metals in Anniston, Alabama, pursuant to a partial consent decree with the United States Environmental Protection Agency (“EPA”). U.S. Pipe and certain co-defendants subsequently reached a settlement with
the EPA concerning their liability for certain contamination in and around Anniston, which was memorialized in an Administrative Agreement and Order on Consent (“AOC”) that became effective in January 2006. U.S. Pipe has reached a
settlement agreement whereby Phelps Dodge Industries, Inc., a co-defendant and co-respondent on the AOC, has assumed U.S. Pipe’s obligation to perform the work required under the AOC. 

U.S. Pipe and the other settling defendants contend that the legal effect of the AOC extinguishes Solutia’s claims and they filed a
motion for summary judgment to that effect. Discovery in this matter had been stayed while the motion for summary judgment was pending. 

 
In June 2008, the court issued a summary judgment order, holding that plaintiffs’ claims for contribution are barred by the AOC but giving plaintiffs the right to seek to recover cleanup
costs they voluntarily incurred. The court granted a motion for immediate appeal to the Eleventh Circuit Court of Appeals, but the Eleventh Circuit declined to take the appeal. The parties engaged in fact discovery in 2009, and U.S. Pipe has moved
for reconsideration of the June 2008 summary judgment order that permitted plaintiffs to proceed with their claims to seek recovery of cleanup costs under Section 107(a) of the Comprehensive Environmental Response, Compensation, and Liability
Act. On July 2, 2010, the district court granted summary judgment on the cost recovery claims under Section 107(a) and dismissed those remaining counts against the Company. On July 30, 2010, plaintiffs moved to clarify or amend the
district court’s July 2, 2010 order to permit the plaintiffs to pursue a claim under Section 107(a) to recover costs that were not incurred under any removal order or settlement. We currently have no basis to form a view with respect
to the probability or amount of liability in this matter. 
 U.S. Pipe and a number of co-defendant
foundry-related companies were named in a putative civil class action case originally filed in April 2005 in the Circuit Court of Calhoun County, Alabama, and removed by defendants to the U.S. District Court for the Northern District of Alabama
under the Class Action Fairness Act. The putative plaintiffs in the case filed an amended complaint with the U.S. District Court in December 2006. The amended complaint alleged state law tort claims (negligence, failure to warn,
wantonness, nuisance, trespass and outrage) arising from creation and disposal of “foundry sand” alleged to contain harmful levels of PCBs and other toxins, including arsenic, cadmium, chromium, lead and zinc. The plaintiffs originally
sought damages for real and personal property and for other unspecified personal injury. In June 2007, a motion to dismiss was granted to U.S. Pipe and certain co-defendants as to the claims for negligence, failure to warn, nuisance, trespass
and outrage. The remainder of the complaint was dismissed with leave to file an amended complaint. On July 6, 2007, plaintiffs filed a second amended complaint, which dismissed prior claims relating to U.S. Pipe’s former facility located
at 2101 West 10th Street in Anniston, Alabama and no
longer alleges personal injury claims. Plaintiffs filed a third amended complaint on July 27, 2007. U.S. Pipe and the other defendants have moved to dismiss the third amended complaint. In September 2008, the court issued an order on the
motion, dismissing the claims for wantonness and permitting the plaintiffs to move forward with their claims of nuisance, trespass and negligence. The court has ordered the parties to mediate the dispute. Management believes that numerous procedural
and substantive defenses are available. We currently have no basis to form a view with respect to the probability or amount of liability in this matter. 

On July 13, 2010, Rohcan Investments Limited (“Rohcan”), the former owner of property leased by Mueller Canada and located
in Milton, Ontario, filed suit against Mueller Canada and its two directors seeking $10 million in damages arising from the defendants’ alleged environmental contamination of the property and breach of lease. Mueller Canada occupied the
property from 1988 through 2006 and paid rent until the lease expired in 2008. We have tendered this lawsuit to the former owner of Mueller Canada for defense and indemnification. We currently have no basis to form a view with respect to the
probability or amount of liability in this matter. 

 In the acquisition agreement pursuant to which a predecessor to Tyco International Ltd.
(“Tyco”) sold our Mueller Co. and Anvil businesses to the prior owners of these businesses in August 1999, Tyco agreed to indemnify Mueller Co., Anvil and their affiliates, among other things, for all “Excluded Liabilities”.
Excluded Liabilities include, among other things, substantially all liabilities of Mueller Co., Anvil and their affiliates prior to August 1999. The indemnity survives indefinitely and is not subject to any deductibles or caps. However, we may
be responsible for these liabilities in the event that Tyco ever becomes financially unable to or otherwise fails to comply with, the terms of the indemnity. In addition, Tyco’s indemnity does not cover liabilities to the extent caused by us or
the operation of our businesses after August 1999, nor does it cover liabilities arising with respect to businesses or sites acquired after August 1999. In June 2007, Tyco was separated into three separate, publicly traded companies.
Should the entity or entities that assume Tyco’s obligations under the acquisition agreement ever become financially unable or fail to comply with the terms of the indemnity, we may be responsible for such obligations or liabilities.

 Some of our subsidiaries have been named as defendants in asbestos-related lawsuits. We do not believe these lawsuits, either
individually or in the aggregate, are material to our consolidated financial position or results of operations. 
 Other
Litigation. We are parties to a number of other lawsuits arising in the ordinary course of our businesses, including product liability cases for products manufactured by us and by third parties. The effect of the outcome of these matters on our
future results of operations cannot be predicted with certainty as any such effect depends on future results of operations and the amount and timing of the resolution of such matters. While the results of litigation cannot be predicted with
certainty, management believes that the final outcome of such other litigation is not likely to have a materially adverse effect on our consolidated financial statements. 

Walter Energy-related Income Taxes. Each member of a consolidated group for federal income tax purposes is severally liable for
the federal income tax liability of each other member of the consolidated group for any year in which it is a member of the group at any time during such year. Each member of the Walter Energy consolidated group, which included us through
December 14, 2006, is also jointly and severally liable for pension and benefit funding and termination liabilities of other group members, as well as certain benefit plan taxes. Accordingly, we could be liable under such provisions in the
event any such liability is incurred, and not discharged, by any other member of the Walter Energy consolidated group for any period during which we were included in the Walter Energy consolidated group. 

A dispute exists with regard to federal income taxes for fiscal years 1980 through 1994 allegedly owed by the Walter Energy consolidated
group, which included U.S. Pipe during these periods. According to Walter Energy’s last available public 10-Q filing on the matter, Walter Energy’s management estimated that the amount of tax claimed by the Internal Revenue Service
(“IRS”) was approximately $34.0 million for issues currently in dispute in bankruptcy court for matters unrelated to us. This amount is subject to interest and penalties. Of the $34.0 million in claimed tax, $21.0 million
represents issues in which the IRS is not challenging the deductibility of the particular expense but only whether such expense is deductible in a particular year. Walter Energy’s management believes that Walter Energy’s financial exposure
should be limited to 

 
interest and possible penalties and the amount of any tax claimed will be offset by refunds in other years. 

In addition, the IRS previously issued a Notice of Proposed Deficiency assessing additional tax of $82.2 million for the fiscal years
ended May 31, 2000, December 31, 2000 and December 31, 2001. The unresolved issues relate primarily to Walter Energy’s method of recognizing revenue on the sale of homes and related interest on the installment notes
receivable. The items at issue relate primarily to the timing of revenue recognition and should the IRS prevail on its positions, Walter Energy’s financial exposure should be limited to interest and penalties. As a matter of law, the Company is
jointly and severally liable for any final tax determination, which means that we would be liable in the event Walter Energy is unable to pay any amounts owed. Walter Energy has disclosed that it believes its filing positions have substantial merit
and that it intends to defend vigorously any claims asserted. 
 Walter Energy effectively controlled all of our tax decisions
for periods during which we were a member of the Walter Energy consolidated group for federal income tax purposes and certain combined, consolidated or unitary state and local income tax groups. Under the terms of the income tax allocation agreement
between us and Walter Energy dated May 26, 2006, we generally compute our tax liability on a stand-alone basis, but Walter Energy has sole authority to respond to and conduct all tax proceedings (including tax audits) relating to our federal
income and combined state returns, to file all such returns on our behalf and to determine the amount of our liability to (or entitlement to payment from) Walter Energy for such previous periods. This arrangement may result in conflicts between
Walter Energy and us. The Spin-off was intended to qualify as a tax-free spin-off under Section 355 of the Internal Revenue Code of 1986, as amended. In addition, the tax allocation agreement provides that if the Spin-off is determined not to
be tax-free pursuant to Section 355 of the Internal Revenue Code of 1986, as amended, we generally will be responsible for any taxes incurred by Walter Energy or its shareholders if such taxes result from certain of our actions or omissions and
for a percentage of any such taxes that are not a result of our actions or omissions or Walter Energy’s actions or omissions or taxes based upon our market value relative to Walter Energy’s market value. Additionally, to the extent that
Walter Energy was unable to pay taxes, if any, attributable to the Spin-off and for which it is responsible under the tax allocation agreement, we could be liable for those taxes as a result of being a member of the Walter Energy consolidated group
for the year in which the Spin-off occurred. 
 In accordance with the income tax allocation agreement, Walter Energy used
certain tax assets of a predecessor to the Company in its calendar 2006 tax return for which payment to us is required. The income tax allocation agreement only requires Walter Energy to make the payment upon realization of the tax benefit by
receiving a refund or otherwise offsetting taxes due. Walter Energy currently owes us $10.9 million that is payable pending completion of an IRS audit of Walter Energy’s 2006 tax year and the related refund of tax from that year. We do not
expect payment within a year from the current balance sheet date. 

 SCHEDULE 6.09 

ENVIRONMENTAL MATTERS 

See Schedule 6.06. 

 SCHEDULE 6.11 

PROPOSED TAX ASSESSMENTS 

The Company is jointly and severally liable for any federal income tax liabilities of Walter Industries, Inc. for periods prior to its spin off from
Walter Industries, Inc. 

 SCHEDULE 6.12(d) 

ERISA COMPLIANCE 
 Seven
pension plans were consolidated down to one pension plan effective 1-1-2010. Five 401(k) plans were consolidated down to two 401(k) plans effective 1-1-2010. We are in the process of restating these three plans and will be applying to the Internal
Revenue Service for a favorable determination letter for each of the three plans by January 31, 2011. 

 SCHEDULE 6.13(a) 

SUBSIDIARIES 
 Mueller
Water Products, Inc., a Delaware corporation 
  

	 	•	 	 Anvil 1, LLC, a Delaware limited liability company 

  

	 	•	 	 Anvil 2, LLC, a Delaware limited liability company 

  

	 	•	 	 Anvil International LLC, a Delaware limited liability company 

 

	 	•	 	 Anvil International, LP, a Delaware limited partnership (formerly Anvil International, Inc., a Delaware corporation) 

 

	 	•	 	 AnvilStar, LLC, a Delaware limited liability company 

  

	 	•	 	 Fast Fabricators, LLC, a Delaware limited liability company 

 

	 	•	 	 Henry Pratt Company, LLC, a Delaware limited liability company (formerly Henry Pratt Company, a Delaware corporation) 

 

	 	•	 	 Henry Pratt International, LLC, a Delaware limited liability company (formerly Henry Pratt International Ltd., a Delaware corporation)

  

	 	•	 	 Hersey Meters Co., LLC, a Delaware limited liability company (formerly Hersey Meters Co., a Delaware corporation) 

 

	 	•	 	 Hunt Industries, LLC, a Delaware limited liability company (formerly Hunt Industries, Inc., a Tennessee corporation) 

 

	 	•	 	 Hydro Gate, LLC, a Delaware limited liability company (formerly Hydro Gate Acquisition Corp., a Delaware corporation) 

 

	 	•	 	 James Jones Company, LLC, a Delaware limited liability company (formerly James Jones Company, a California corporation) 

 

	 	•	 	 J.B. Smith Mfg Co., LLC, a Delaware limited liability company (formerly J.B. Smith Mfg Co., an Oklahoma corporation) 

 

	 	•	 	 MCO 1, LLC, an Alabama limited liability company 

  

	 	•	 	 MCO 2, LLC, an Alabama limited liability company 

  

	 	•	 	 Jingmen Pratt Valve Co., Ltd., a Peoples Republic of China limited liability company 

 

	 	•	 	 Milliken Valve, LLC, a Delaware limited liability company (formerly Milliken Acquisition Corp., a Delaware corporation) 

 

	 	•	 	 Mueller Canada Holdings Corp., a Canada corporation 

  

	 	•	 	 Mueller Canada Ltd., a Canada corporation 

  

	 	•	 	 Mueller Co. Ltd., an Alabama limited partnership (formerly Mueller Co., an Illinois corporation) 

 

	 	•	 	 Mueller Financial Services, LLC, a Delaware limited liability company 

 

	 	•	 	 Mueller Group Co-Issuer, Inc., a Delaware corporation 

 

	 	•	 	 Mueller Group, LLC, a Delaware limited liability company 

 

	 	•	 	 Mueller International Finance, Inc., a Delaware corporation 

 

	 	•	 	 Mueller International Finance, L.L.C., a Delaware limited liability company 

 

	 	•	 	 Mueller International, Inc., a Delaware corporation 

  

	 	•	 	 Mueller International, L.L.C., a Delaware limited liability company 

 

	 	•	 	 Mueller Service California, Inc., a Delaware corporation 

 

	 	•	 	 Mueller Service Co., LLC, a Delaware limited liability company (formerly Mueller Service Co., a Delaware corporation) 

	 	•	 	 Mueller Systems LLC, Delaware limited liability company (formerly Mueller Technologies LLC, a Delaware limited liability company)

  

	 	•	 	 United States Pipe and Foundry Company, LLC, an Alabama limited liability company 

 

	 	•	 	 U.S. Pipe Valve & Hydrant, LLC, a Delaware limited liability company 

 SCHEDULE 6.13(b) 

OTHER EQUITY INVESTMENTS 

None. 

 SCHEDULE 8.01 

EXISTING LIENS 
  

											
	 Debtor
	  	 Secured Party
	  	 Filing Office
	  	 File Date
	  	 Filing Number
	  	
Brief Description of Collateral

						
	Anvil International, LP	  	Core Business Technologies	  	Delaware Secretary of State	  	04-28-08	  	2008 1463981	  	Specified equipment
						
	Anvil International, LP	  	Zeno Office Solutions, Inc.	  	Delaware Secretary of State	  	03-03-09	  	2009 0668134	  	Specified equipment
						
	Henry Pratt Company, LLC	  	OCE’ Financial Services, Inc.	  	Delaware Secretary of State	  	02-17-10	  	2010 0454805	  	Specified equipment
						
	J.B. Smith Mfg Co., LLC	  	Takisawa, Inc.	  	Delaware Secretary of State	  	07-28-06	  	62623320	  	Specified equipment
						
	Mueller Company	  	Hyundai-Kia Machine America Corp.	  	Alabama Secretary of State	  	06-09-06	  	06-0516051	  	Specified equipment
						
	Mueller Co. Ltd.	  	United Rentals Southeast, L.P.	  	Alabama Secretary of State	  	08-24-07	  	07-0724/801	  	Specified equipment
						
	Mueller Co., Ltd.	  	Bolts & Nuts, Inc.	  	Alabama Secretary of State	  	04-15-10	  	10-7063266	  	Specified equipment
						
	Mueller Group, LLC	  	Dell Financial Service L.P.	  	Delaware Secretary of State	  	01-24-07	  	2007 0300441	  	Computer equipment pursuant to lease
						
	Mueller Water Products, Inc.	  	Air Liquide Industrial U.S. LP	  	Delaware Secretary of State	  	04-08-09	  	2009 1127676	  	Specified equipment
						
	United States Pipe and Foundry Company, Inc.	  	The CIT Group/Equipment Financing Inc.	  	Alabama Secretary of State	  	09-24-02	  	02-0780525	  	Specified equipment
						
	United States Pipe and Foundry Company, LLC	  	Thompson Tractor Co., Inc.	  	Alabama Secretary of State	  	08-18-05	  	05-0629884	  	Specified equipment
						
	United States Pipe and Foundry Company, Inc.	  	Thompson Tractor Co., Inc.	  	Alabama Secretary of State	  	11-22-05	  	06-0009556	  	Specified equipment
						
	United States Pipe and Foundry Company, Inc.	  	Thompson Tractor Co., Inc.	  	Alabama Secretary of State	  	11-28-05	  	06-0019543	  	Specified equipment

											
	 Debtor
	  	 Secured Party
	  	 Filing Office
	  	 File Date
	  	 Filing Number
	  	
Brief Description of Collateral

						
	United States Pipe and Foundry Company, Inc.	  	Thompson Tractor Co., Inc.	  	Alabama Secretary of State	  	01-30-06	  	06-0159292	  	Specified equipment
						
	United States Pipe and Foundry Company, Inc.	  	Thompson Tractor Co., Inc.	  	Alabama Secretary of State	  	05-24-06	  	06-0469095	  	Specified equipment
						
	United States Pipe and Foundry Company, LLC	  	Magid Glove & Safety Manufacturing Co., LLC	  	Alabama Secretary of State	  	04-25-07	  	07-0373599	  	Specified equipment
						
	United States Pipe and Foundry Company, LLC	  	TCF Equipment Finance, Inc.	  	Alabama Secretary of State	  	11-07-07	  	07-0922885	  	Equipment other goods and personal property pursuant to Master Lease
						
	United States Pipe and Foundry Company, LLC	  	TCF Equipment Finance, Inc.	  	Alabama Secretary of State	  	11-07-07	  	07-0923033	  	Equipment other goods and personal property pursuant to Master Lease
						
	United States Pipe and Foundry Company, LLC	  	TCF Equipment Finance, Inc.	  	Alabama Secretary of State	  	11-13-07	  	07-0933806	  	Specified equipment
						
	United States Pipe and Foundry Company, LLC	  	Synovus Capital Finance	  	Alabama Secretary of State	  	10-17-08	  	08-7096414	  	Equipment and personal property pursuant to Equipment Finance Agreement
						
	United States Pipe and Foundry Company, LLC	  	BancorpSouth Equipment Finance	  	Alabama Secretary of State	  	11-24-08	  	08-0724815	  	Specified machinery and equipment
						
	United States Pipe and Foundry Company, LLC	  	The McPherson Companies, Inc.	  	Alabama Secretary of State	  	04-20-09	  	09-7063228	  	Specified equipment
						
	United States Pipe and Foundry Company, LLC	  	The McPherson Companies, Inc.	  	Alabama Secretary of State	  	06-04-09	  	09-7094376	  	Specified equipment
						
	United States Pipe and Foundry Company, LLC	  	CCA Financial, LLC	  	Alabama Secretary of State	  	08-10-09	  	09-7138222	  	Specified equipment

											
	 Debtor
	  	 Secured Party
	  	 Filing Office
	  	 File Date
	  	 Filing Number
	  	 Brief Description of Collateral

						
	United States Pipe and Foundry Company, LLC	  	The McPherson Companies, Inc.	  	Alabama Secretary of State	  	04-06-10	  	10-7056449	  	Specified equipment

 SCHEDULE 8.02 

EXISTING INVESTMENTS 

See Schedule 8.03. 

 SCHEDULE 8.03 

EXISTING INDEBTEDNESS 

Mueller Water Products, Inc. 14.75% Senior Discount Notes Due 2014 in an aggregate principal amount equal to $241,000.00. 

Master Lease Agreement between Gelco Corporation and Mueller Group, LLC dated August 9, 2002 in an aggregate principal amount as of July 31,
2010 equal to $1,601,928.23. 
 Mueller Water Products, Inc. 7 3/8% Senior Subordinated Notes Due 2017 in an aggregate principal amount equal to
$420,000,000.00. 
 Intercompany Indebtedness: 
  

						
	 Borrower
	  	 Lender
	  	Loan Amount
			
	 Mueller Co. Ltd.
	  	Mueller International Finance, Inc.	  	US$	520,000,000.00
			
	 Anvil International, LP
	  	Mueller International Finance, Inc.	  	US$	 50,000,000.00
			
	 Jingmen Pratt Co., Ltd
	  	Mueller Co. Ltd.	  	US$	 1,250,000.00

 Surety Bonds (see
Schedule 8.03 Attachments 1 and 2) 
 Vendor Loans: 

 

						
	 Borrower
	  	 Lender
	  	Loan Amount
			
	 Prabhat Industries
	  	Anvil International LLC	  	$	141,716.00

 Customer Loans:

  

						
	 Borrower
	  	 Lender
	  	Loan Amount
			
	 S&B Technical Products
	  	United States Pipe and Foundry Company LLC	  	$	2,757,018.00
			
		  		  		

 SCHEDULE 11.02 

ADMINISTRATIVE AGENT’S OFFICE; 

CERTAIN ADDRESSES FOR NOTICES 

BORROWER: 
  

			
	 MUELLER WATER PRODUCTS, INC.

1200 Abernathy Road, Suite 1200

Atlanta, Georgia 30328

	 Attention:
	 	Walter A. Smith, Treasurer
	 Telephone:
	 	770.206.4248
	 Telecopier:
	 	770.206.4270
	 E-Mail:
	 	wsmith@muellercompany.com
	 Website Address:  www.muellerwaterproducts.com

U.S. Taxpayer Identification Number: 20-3547095

With a copy to: 
  

					
		 	 MUELLER WATER PRODUCTS, INC.

1200 Abernathy Road, Suite 1200

Atlanta, Georgia 30328

		 	Attention:	 	Robert Barker, General Counsel
		 	 Telephone:
	 	770.206.4232
		 	 Telecopier:
	 	770.206.4260
		 	 E-Mail:
	 	rbarker@muellercompany.com

 ADMINISTRATIVE
AGENT: 
 BANK OF AMERICA, N.A. 

			
	 335 Madison Avenue,
6th Floor

New York, New York 10017

	 Attention:
	 	William J. Wilson, Senior Vice President
	 Telephone:
	 	646.556.0046
	 Telecopier:
	 	312.453.5076
	 E-Mail:
	 	william.j.wilson@baml.com

  

			
	Bank of America, N.A.
	 New York, New York

	 Account No.:
	 	1366212250600
	 Reference:
	 	Mueller Water Products, Inc.
	 Attention:
	 	Credit Services
	 ABA No:
	 	026009593

  

 H-1 

Form of Borrower Joinder Agreement 

 EXHIBIT A 

FORM OF REVOLVING LOAN NOTICE 

Date: ___________, _____ 
  

	To:	Bank of America, N.A., as Administrative Agent 

Ladies and Gentlemen: 

Reference is made to that certain Credit Agreement, dated as of August __, 2010 (as amended, restated, extended, supplemented or otherwise
modified in writing from time to time, the “Agreement”; the terms defined therein being used herein as therein defined), among Mueller Water Products, Inc., a Delaware corporation (the “Borrower Agent”), and the
other borrowers party thereto (together with the Borrower Agent, collectively, the “Borrowers”), the Lenders from time to time party thereto, and Bank of America, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer.

 The undersigned hereby requests (select one): 

 

	 	 ̈	A Borrowing of Revolving Loans 

  

	 	 ̈	A conversion or continuation of Revolving Loans 

  

	 	1.	    On _________________________ (a Business Day). 

  

	 	2.	    In the amount of
$                                         
       . 

  

	 	3.	    Comprised of ______________________________. 

                         
                       [Type of Revolving Loan requested] 

 

	 	4.	    For Eurocurrency Rate Loans: with an Interest Period of ___ months. 

The Revolving Borrowing, if any, requested herein complies with the provisos to the first sentence of Section 2.02 of the
Agreement. 
 In connection with any Borrowing requested hereunder, the matters set forth in Section 5.02(a),
(b), (d) and (e) of the Agreement are true, correct and complete as of the date hereof. 
  

			
	MUELLER WATER PRODUCTS, INC., as
	Borrower Agent
		
	By:	 	 
	Name:	 	 
	Title:	 	 

  

 A-1 

Form of Revolving Loan Notice 

 EXHIBIT B 

FORM OF SWING LINE LOAN NOTICE 

Date: ___________, _____ 
  

	To:	Bank of America, N.A., as Swing Line Lender 

	 	Bank of America, N.A., as Administrative Agent 

Ladies and Gentlemen: 

Reference is made to that certain Credit Agreement, dated as of August __, 2010 (as amended, restated, extended, supplemented or otherwise
modified in writing from time to time, the “Agreement”; the terms defined therein being used herein as therein defined), among Mueller Water Products, Inc., a Delaware corporation (the “Borrower Agent”), and the
other borrowers party thereto (together with the Borrower Agent, collectively, the “Borrowers”), the Lenders from time to time party thereto, and Bank of America, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer.

 The undersigned hereby requests a Swing Line Loan: 

 

	 	1.	On _________________________ (a Business Day). 

  

	 	2.	In the amount of
$                                    .

 The Swing Line Borrowing requested herein complies with the provisos to the first sentence of
Section 2.02 of the Agreement. 
 In connection with any Swing Line Borrowing requested hereunder, the matters set
forth in Section 5.02(a), (b), (d) and (e) of the Agreement are true, correct and complete as of the date hereof. 

 

			
	MUELLER WATER PRODUCTS, INC., as
	Borrower Agent
		
	By:	 	 
	Name:	 	 
	Title:	 	 

  

 B-1 

Form of Swing Line Loan Notice 

 EXHIBIT C 

FORM OF 

REVOLVING LOAN NOTE 

August ___, 2010 

FOR VALUE RECEIVED, each of the undersigned (the “Borrowers”) hereby, jointly and severally, promises to pay to
_____________________ or registered assigns (the “Lender”), in accordance with the provisions of the Agreement (as hereinafter defined), the principal amount of each Revolving Loan from time to time made by the Lender to the
Borrowers under that certain Credit Agreement, dated as of August ___, 2010 (as amended, restated, extended, supplemented or otherwise modified in writing from time to time, the “Agreement”; the terms defined therein being used
herein as therein defined), among the Borrowers, the Lenders from time to time party thereto, and Bank of America, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer. 

Each Borrower, jointly and severally, promises to pay interest on the unpaid principal amount of each Revolving Loan from the date of
such Revolving Loan until such principal amount is paid in full, at such interest rates and at such times as provided in the Agreement. All payments of principal and interest shall be made to the Administrative Agent for the account of the Lender in
Dollars in immediately available funds at the Administrative Agent’s Office. If any amount is not paid in full when due hereunder, such unpaid amount shall bear interest, to be paid upon demand, from the due date thereof until the date of
actual payment (and before as well as after judgment) computed at the per annum rate set forth in the Agreement. 
 This
Revolving Loan Note is one of the Revolving Loan Notes referred to in the Agreement, is entitled to the benefits thereof and may be prepaid in whole or in part subject to the terms and conditions provided therein. This Revolving Loan Note is also is
secured by the Collateral. Upon the occurrence and continuation of one or more of the Events of Default specified in the Agreement, all amounts then remaining unpaid on this Revolving Loan Note shall become, or may be declared to be, immediately due
and payable all as provided in the Agreement. Revolving Loans made by the Lender shall be evidenced by one or more loan accounts or records maintained by the Lender in the ordinary course of business. The Lender may also attach schedules to this
Revolving Loan Note and endorse thereon the date, amount and maturity of its Revolving Loans and payments with respect thereto. 

Each Borrower, for itself, its successors and assigns, hereby waives diligence, presentment, protest and demand and notice of protest,
demand, dishonor and non-payment of this Revolving Loan Note. 
  

 C-1 

Form of Revolving Loan Note 

 THIS REVOLVING LOAN NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF
THE STATE OF NEW YORK. 
  

			
	BORROWERS:
	
	MUELLER WATER PRODUCTS, INC.
	ANVIL INTERNATIONAL, LP
	    By:	 	Anvil I, LLC, its General Partner
	ANVILSTAR, LLC
	FAST FABRICATORS, LLC
	HENRY PRATT COMPANY, LLC
	HERSEY METERS CO., LLC
	HUNT INDUSTRIES, LLC
	HYDRO GATE, LLC
	J.B. SMITH MFG CO., LLC
	JAMES JONES COMPANY, LLC
	MILLIKEN VALVE, LLC
	MUELLER CO. LTD.
	    By:	 	MCO 1, LLC, its General Partner
	MUELLER GROUP, LLC
	MUELLER INTERNATIONAL, INC.
	MUELLER SERVICE CALIFORNIA, INC.
	MUELLER SERVICE CO., LLC
	MUELLER SYSTEMS LLC
	U.S. PIPE VALVE & HYDRANT, LLC
	UNITED STATES PIPE AND FOUNDRY
	    COMPANY, LLC
		
	By:	 	 
	Name:	 	 
	Title:	 	 

  

 C-2 

Form of Revolving Loan Note 

 REVOLVING LOANS AND PAYMENTS WITH RESPECT THERETO 

 

													
	Date	  	Type of Loan
Made	  	Amount of
Loan Made	  	End of
Interest
Period	  	Amount of
Principal or
Interest 
Paid
This Date	  	Outstanding
Principal
Balance This
Date
	  	Notation
Made 
By
	 	  	 	  	 	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	 	  	 	  	 	  	 

  

 C-3 

Form of Revolving Loan Note 

 EXHIBIT D 

FORM OF COMPLIANCE CERTIFICATE 

Financial Statement Date: __________, _____ 
  

	To:	Bank of America, N.A., as Administrative Agent 

Ladies and Gentlemen: 

Reference is made to that certain Credit Agreement, dated as of August ___, 2010 (as amended, restated, extended, supplemented or
otherwise modified in writing from time to time, the “Agreement”; the terms defined therein being used herein as therein defined), among Mueller Water Products, Inc., a Delaware corporation (the “Company”), the
other borrowers party thereto from time to time (together with the Company, collectively, the “Borrowers”), the Lenders from time to time party thereto, and Bank of America, N.A., as Administrative Agent, L/C Issuer and Swing Line
Lender. 
 The undersigned financial officer of the Company that is a Responsible Officer hereby certifies as of the date hereof
that he/she is the ____________________________________________________ of the Company, and that, as such, he/she is authorized to execute and deliver this Certificate to the Administrative Agent on the behalf of the Borrowers, and that: 

[Use following paragraph 1 for fiscal year-end financial statements] 

1. Attached hereto as Schedule 1 are the year-end audited financial statements required by Section 7.01(a) of the
Agreement for the fiscal year of the Company ended as of the above date, together with the report and opinion of an independent certified public accountant required by such section. 

[Use following paragraph 1 for fiscal month-end financial statements] 

1. Attached hereto as Schedule 1 are the unaudited financial statements required by Section 7.01(b) of the Agreement
for the Fiscal Month of the Company ended as of the above date. Such financial statements fairly present the financial condition, results of operations and cash flows of the Company and its Subsidiaries in accordance with GAAP as at such date and
for such period, subject only to normal year-end audit adjustments and the absence of footnotes. 
 2. The undersigned has
reviewed and is familiar with the terms of the Agreement and has made, or has caused to be made under his/her supervision, a detailed review of the transactions and condition (financial or otherwise) of the Borrowers during the accounting period
covered by the attached financial statements. 
 3. A review of the activities of the Borrowers during such fiscal period has
been made under the supervision of the undersigned with a view to determining whether during such fiscal period the Borrowers performed and observed all its Obligations under the Loan Documents, and 

 

 D-1 

Form of Compliance Certificate 

 [select one:] 

[to the best knowledge of the undersigned during such fiscal period, each Borrower performed and observed each covenant and condition
of the Loan Documents applicable to it, and no Default has occurred and is continuing.] 
 —or—

 [the following covenants or conditions have not been performed or observed and the following is a list of each
such Default and its nature and status:] 
 4. The representations and warranties of the Borrowers contained in Article
VI of the Agreement, and any representations and warranties of the Borrowers that are contained in any document furnished at any time under or in connection with the Loan Documents, are true and correct on and as of the date hereof, except to
the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct as of such earlier date, and except that for purposes of this Compliance Certificate, the representations and
warranties contained in subsections (a) and (b) of Section 6.05 of the Agreement shall be deemed to refer to the most recent statements furnished pursuant to clauses (a) and (b), respectively,
of Section 7.01 of the Agreement, including the statements in connection with which this Compliance Certificate is delivered. 

5. The financial covenant analyses and information set forth on Schedule 2 attached hereto are true and accurate on and as of the
date of this Certificate. 
 IN WITNESS WHEREOF, the undersigned has executed this Certificate as of _______________,
_____. 
  

			
	MUELLER WATER PRODUCTS, INC., as Company
		
	By:	 	 
	Name:	 	 
	Title:	 	 

  

 D-2 

Form of Compliance Certificate 

 For the twelve Fiscal Month period ended ___________________ (“Statement
Date”) 
  
 SCHEDULE 2 

to the Compliance Certificate 

($ in 000’s) 
  

									
	I.	  	  Section 8.12 – Consolidated Fixed Charge Coverage Ratio.	  	
				
		  	  A.	  	Consolidated EBITDA with respect to the Company and its Restricted Subsidiaries, on a consolidated basis, for the trailing twelve consecutive Fiscal Months ending on
above Statement Date (“Subject Period”):	  	
					
		  		  	1.	  	Consolidated Net Income for Subject Period:	  	$__________
					
		  		  	2.	  	Consolidated Interest Charges for Subject Period:	  	$__________
					
		  		  	3.	  	Provision for income taxes for Subject Period:	  	$__________
					
		  		  	4.	  	Depreciation and depletion expense for Subject Period:	  	$__________
					
		  		  	5.	  	Amortization expense for Subject Period:	  	$__________
					
		  		  	6.	  	Other non-cash charges or expenses (excluding any non-cash charges representing an accrual of, or reserve for, cash charges to be paid within the next twelve months) for Subject
Period:	  	$__________
					
		  		  	7.	  	Amounts deducted in determining Consolidated Net Income representing mark-to-market losses related to interest rate hedges that must be recognized currently in net income under
Financial Accounting Standards Board Statement 133 for Subject Period:	  	$__________
					
		  		  	8.	  	Amounts added in determining Consolidated Net Income representing mark-to-market gains related to interest rate hedges that must be recognized currently in net income under
Financial Accounting Standards Board Statement 133 for Subject Period:	  	$__________
					
		  		  	9.	  	Other non-cash income or gains for Subject Period:	  	$__________
					
		  		  	10.	  	Expenses incurred in connection with the Transactions for Subject Period:	  	$__________
					
		  		  	11.	  	Amounts representing cash restructuring costs, or cash costs reasonably determined by the Company to be associated with facility or product line closures, consolidation or
rationalization, for Subject Period, not to exceed (a) $15,000,000 in the aggregate incurred during the fiscal year of the	  	

  

 D-3 

Form of Compliance Certificate 

									
					
		  		  		  	Company ending September 30, 2010 and (b) $5,000,000 in the aggregate incurred during any fiscal year of the Company occurring after September 30, 2010:	  	$__________
					
		  		  	12.	  	Proceeds received from claims under business interruption insurance during Subject Period:	  	$__________
					
		  		  	13.	  	Cash expenditures in Subject Period related to non-cash charges added back to Consolidated Net Income in computing Consolidated EBITDA during any prior periods:	  	$__________
					
		  		  	14.	  	Consolidated EBITDA (Lines B.1 + 2 + 3 + 4 + 5+ 6 + 7 – 8 – 9 + 10 + 11 + 12 – 13):	  	$__________
				
		  	B.	  	Consolidated Capital Expenditures for the Subject Period:	  	
					
		  		  	1.	  	Consolidated Capital Expenditures:	  	$__________
					
		  		  	2.	  	Excluded Capital Expenditures:	  	$__________
					
		  		  	3.	  	Net Consolidated Capital Expenditures:	  	
		  		  		  	(Lines B.1 – 2.):	  	$__________
				
		  	C.	  	Cash taxes paid during Subject Period:	  	$__________
				
		  	D.	  	Consolidated Fixed Charges for the Subject Period:	  	
					
		  		  	1.	  	Consolidated Cash Interest Charges paid or required to be paid during Subject Period:	  	$__________
					
		  		  	2.	  	Current maturities of long term Consolidated Funded Indebtedness paid in cash during Subject Period (other than any payments due at maturity of such Consolidated Funded
Indebtedness):	  	$__________
					
		  		  	3.	  	Mandatory principal payments paid in cash on Consolidated Funded Indebtedness (other than repayment of certain Indebtedness (including the term loans under the Existing Agreement)
on the Closing Date) during Subject Period:	  	$__________
					
		  		  	4.	  	Restricted Payments made in cash during Subject Period:	  	$__________
					
		  		  	5.	  	Cash contributions to Pension Plans equal to the lesser of (a) cash contributions to Pension Plans in excess of the amounts reflected in the profit and loss statements of the
Company for Subject Period and (b) $5,000,000:	  	$__________
					
		  		  	6.	  	Consolidated Fixed Charges (Lines C.1 + 2 + 3 + 4 + 5):	  	$__________

  

 D-4 

Form of Compliance Certificate 

									
				
		  	E.	  	Consolidated Fixed Charge Coverage Ratio ((Line A.14. – Line B.3. – Line C) ÷ Line D.6.):	  	  __________ to 1
				
		  		  	Minimum Required during a Fixed Charge Trigger Period (check if applicable  ̈):	  	1.10 to 1.00

  

 D-5 

Form of Compliance Certificate 

 EXHIBIT E 

ASSIGNMENT AND ASSUMPTION 

This Assignment and Assumption (this “Assignment and Assumption”) is dated as of the Effective Date set forth below and
is entered into by and between [the][each] Assignor identified in item 1 below ([the][each, an] “Assignor”) and [the][each] Assignee identified in item 2 below ([the][each, an] “Assignee”). [It is understood and
agreed that the rights and obligations of [the Assignors][the Assignees] hereunder are several and not joint.] Capitalized terms used but not defined herein shall have the meanings given to them in the Credit Agreement identified below (the
“Credit Agreement”), receipt of a copy of which is hereby acknowledged by the Assignee. The Standard Terms and Conditions set forth in Annex 1 attached hereto are hereby agreed to and incorporated herein by reference and made a part
of this Assignment and Assumption as if set forth herein in full. 
 For an agreed consideration, [the][each] Assignor hereby
irrevocably sells and assigns to [the Assignee][the respective Assignees], and [the][each] Assignee hereby irrevocably purchases and assumes from [the Assignor][the respective Assignors], subject to and in accordance with the Standard Terms and
Conditions and the Credit Agreement, as of the Effective Date inserted by the Administrative Agent as contemplated below (i) all of [the Assignor’s][the respective Assignors’] rights and obligations in [its capacity as a Lender][their
respective capacities as Lenders] under the Credit Agreement and any other documents or instruments delivered pursuant thereto to the extent related to the amount and percentage interest identified below of all of such outstanding rights and
obligations of [the Assignor][the respective Assignors] under the respective facilities identified below (including, without limitation, the Letters of Credit included in such facilities) and (ii) to the extent permitted to be assigned under
applicable law, all claims, suits, causes of action and any other right of [the Assignor (in its capacity as a Lender)][the respective Assignors (in their respective capacities as Lenders)] against any Person, whether known or unknown, arising under
or in connection with the Credit Agreement, any other documents or instruments delivered pursuant thereto or the loan transactions governed thereby or in any way based on or related to any of the foregoing, including, but not limited to, contract
claims, tort claims, malpractice claims, statutory claims and all other claims at law or in equity related to the rights and obligations sold and assigned pursuant to clause (i) above (the rights and obligations sold and assigned by
[the][any] Assignor to [the][any] Assignee pursuant to clauses (i) and (ii) above being referred to herein collectively as [the][an] “Assigned Interest”). Each such sale and assignment is without recourse to
[the][any] Assignor and, except as expressly provided in this Assignment and Assumption, without representation or warranty by [the][any] Assignor. 
  

							
				
	1.    	 	 Assignor:
	 	 ______________________________________________
	  	
				
	2.    	 	 Assignee:
	 	 ______________________________________________
	  	
		 		 	[for each Assignee, indicate [Affiliate][Approved Fund] of [identify Lender]]
				
	3.    	 	 Borrowers:
	 	 Mueller Water Products, Inc. and the other Borrowers
	  	

  

 E-1 

Form of Assignment and Assumption 

							
			
	  4.    	 	Administrative Agent:	 	 Bank of America, N.A., as the administrative agent under the Credit Agreement (defined herein).

			
	  5.    	 	Credit Agreement:	 	 Credit Agreement, dated as of August ___, 2010, among Mueller Water Products, Inc., the other Borrowers party thereto, the Lenders from
time to time party thereto, and Bank of America, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer.

				
	  6.    	 	Assigned Interest:	 		  	

  
  

											
	Assignor[s]1
	  	Assignee[s]2
	  	Aggregate Amount
of Commitment/
Loans for
all
Lenders3	  	Amount of 
Commitment/
Loans Assigned*	  	Percentage 
Assigned of

Commitment/
Loans4	  	CUSIP 
Number
	 	 	 	 	 	 
	  	  	  	  	 $____________

 
	  	 $____________

 
	  	 ________%

 
	  	  
	 	 	 	 	 	 
	  	  	  	  	 $____________

 
	  	 $____________

 
	  	 ________%

 
	  	  
	 	 	 	 	 	 
	  	  	  	  	 $____________

 
	  	 $____________

 
	  	 ________%

 
	  	  

  

							
			
	[7.	 	Trade Date:	 	_____________________]

 Effective Date:
__________________, 20__ [TO BE INSERTED BY ADMINISTRATIVE AGENT AND WHICH SHALL BE THE EFFECTIVE DATE OF RECORDATION OF TRANSFER IN THE REGISTER THEREFOR.] 

The terms set forth in this Assignment and Assumption are hereby agreed to: 

 

					
	 ASSIGNOR
  

[NAME OF ASSIGNOR]

		
	By:	 	 
			
		 	Title:	 	 
		 		 	

  
  

	 	1
	 List each Assignor, as appropriate. 

  

	 	2
	 List each Assignee, as appropriate. 

  

	 	3
	 Amounts in this column and in the column immediately to the right to be adjusted by the counterparties to take into account any payments or prepayments
made between the Trade Date and the Effective Date. 

  

	 	4
	 Set forth, to at least 9 decimals, as a percentage of the Commitment/Loans of all Lenders thereunder. 

 

 E-2 

Form of Assignment and Assumption 

					
	 ASSIGNOR
  

[NAME OF ASSIGNOR]

		
	By:	 	 
			
		 	Title:	 	 
		 		 	

  

 E-3 

Form of Assignment and Assumption 

					
	 [Consented to and] Accepted:
  

BANK OF AMERICA, N.A.,
    as Administrative Agent

		
	By:	 	 
			
		 	Title:	 	 

  
  

 

					
	 [Consented to:]
  

MUELLER WATER PRODUCTS, INC.

		
	By:	 	 
			
		 	Title:	 	 

  

 E-4 

Form of Assignment and Assumption 

 ANNEX 1 TO ASSIGNMENT AND ASSUMPTION 

STANDARD TERMS AND CONDITIONS FOR 

ASSIGNMENT AND ASSUMPTION 

1. Representations and Warranties. 

1.1. Assignor. [The][Each] Assignor (a) represents and warrants that (i) it is the legal and beneficial owner of
[the][[the relevant] Assigned Interest, (ii) [the][such] Assigned Interest is free and clear of any lien, encumbrance or other adverse claim and (iii) it has full power and authority, and has taken all action necessary, to execute and
deliver this Assignment and Assumption and to consummate the transactions contemplated hereby; and (b) assumes no responsibility with respect to (i) any statements, warranties or representations made in or in connection with the Credit
Agreement or any other Loan Document, (ii) the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Loan Documents or any collateral thereunder, (iii) the financial condition of the Borrowers, any of
their Subsidiaries or Affiliates or any other Person obligated in respect of any Loan Document or (iv) the performance or observance by the Borrowers, any of their Subsidiaries or Affiliates or any other Person of any of their respective
obligations under any Loan Document. 
 1.2. Assignee. [The][Each] Assignee (a) represents and warrants that
(i) it has full power and authority, and has taken all action necessary, to execute and deliver this Assignment and Assumption and to consummate the transactions contemplated hereby and to become a Lender under the Credit Agreement,
(ii) it meets all the requirements to be an assignee under Section 11.06(b)(iii), (v) and (vi) of the Credit Agreement (subject to such consents, if any, as may be required under
Section 11.06(b)(iii) of the Credit Agreement), (iii) from and after the Effective Date, it shall be bound by the provisions of the Credit Agreement as a Lender thereunder and, to the extent of [the][the relevant] Assigned Interest,
shall have the obligations of a Lender thereunder, (iv) it is sophisticated with respect to decisions to acquire assets of the type represented by [the][such] Assigned Interest and either it, or the Person exercising discretion in making its
decision to acquire [the][such] Assigned Interest, is experienced in acquiring assets of such type, (v) it has received a copy of the Credit Agreement, and has received or has been accorded the opportunity to receive copies of the most recent
financial statements delivered pursuant to Section 7.01 thereof, as applicable, and such other documents and information as it deems appropriate to make its own credit analysis and decision to enter into this Assignment and Assumption
and to purchase [the][such] Assigned Interest, (vi) it has, independently and without reliance upon the Administrative Agent 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 Assignment and Assumption and to purchase [the][such] Assigned Interest, and (vii) if it is a Foreign Lender, attached hereto is any documentation required to be delivered by it pursuant to the terms of
the Credit Agreement, duly completed and executed by [the][such] Assignee; and (b) agrees that (i) it will, independently and without reliance upon the Administrative Agent, [the][any] Assignor 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 the Loan Documents, and (ii) it will perform in accordance with their terms

  

 E-5 

Form of Assignment and Assumption 

 
all of the obligations which by the terms of the Loan Documents are required to be performed by it as a Lender. 

2. Payments. From and after the Effective Date, the Administrative Agent shall make all payments in respect of [the][each]
Assigned Interest (including payments of principal, interest, fees and other amounts) to [the][the relevant] Assignor for amounts which have accrued to but excluding the Effective Date and to [the][the relevant] Assignee for amounts which have
accrued from and after the Effective Date. 
 3. General Provisions. This Assignment and Assumption shall be binding
upon, and inure to the benefit of, the parties hereto and their respective successors and assigns. This Assignment and Assumption may be executed in any number of counterparts, which together shall constitute one instrument. Delivery of an executed
counterpart of a signature page of this Assignment and Assumption by telecopy shall be effective as delivery of a manually executed counterpart of this Assignment and Assumption. This Assignment and Assumption shall be governed by, and construed in
accordance with, the law of the State of New York. 
  

 E-6 

Form of Assignment and Assumption 

 EXHIBIT F 

FORM OF SECURITY AGREEMENT 

See attached. 
  

 F-1 

Form of Security Agreement 

 EXHIBIT G 

FORM OF BORROWING BASE CERTIFICATE 

See attached. 
  

 G-1 

Form of Borrowing Base Certificate 

 EXHIBIT H 

FORM OF BORROWER JOINDER AGREEMENT 

BORROWER JOINDER AGREEMENT 

THIS BORROWER JOINDER AGREEMENT (the “Joinder Agreement”), dated as of _____________ __, 20__ is made by
and between _______________________________, a ________________ (the “Joining Borrower”), and BANK OF AMERICA, N.A., in its capacity as Administrative Agent (the “Administrative Agent”) under
that certain Credit Agreement (as amended, supplemented or restated from time to time, the “Credit Agreement”), dated as of August ___, 2010, by and among MUELLER WATER PRODUCTS, INC. (the
“Company”), the other Borrowers party thereto, the Lenders party thereto and Bank of America, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer. All capitalized terms not otherwise defined herein shall have the
meanings given to such terms in the Credit Agreement. 
 WHEREAS, the Joining Borrower is a Subsidiary and required by
the terms of the Credit Agreement to become a “Borrower” under the Credit Agreement and be joined as a party to the Security Agreement as a Grantor (as defined in the Security Agreement); and 

WHEREAS, the Joining Borrower will materially benefit directly and indirectly from the credit facilities and certain additional
extensions of credit made available and to be made available to the Borrowers by the Lenders under the Credit Agreement; and 

NOW, THEREFORE, the Joining Borrower hereby agrees as follows with the Administrative Agent for the benefit of the Lenders:

 1. Joinder. The Joining Borrower hereby irrevocably, absolutely and unconditionally (a) becomes a party to
the Credit Agreement as a Borrower and agrees to be bound by all the terms, conditions, obligations, liabilities and undertakings of a Borrower thereunder, all with the same force and effect as if the Joining Borrower were a signatory to the Credit
Agreement and (b) acknowledges and agrees that it is jointly and severally liable for all Obligations under the Credit Agreement. 

2. Affirmations. The Joining Borrower hereby acknowledges and reaffirms as of the date hereof with respect to itself, its
properties and its affairs each of the waivers, representations, warranties, acknowledgements and certifications applicable to any Borrower contained in the Credit Agreement. 

3. Supplemental Schedules. Attached to this Security Joinder Agreement are duly completed schedules (the
“Supplemental Schedules”) supplementing as thereon indicated the respective Schedules to the Credit Agreement. The Joining Borrower represents and warrants that the information contained on each of the Supplemental Schedules
with respect to such Joining Borrower and its properties and affairs is true, complete and accurate as of the date hereof. 
  

 H-1 

Form of Borrower Joinder Agreement 

 4. Severability. The provisions of this Joinder Agreement are independent of
and separable from each other. If any provision hereof shall for any reason be held invalid or unenforceable, such invalidity or unenforceability shall not affect the validity or enforceability of any other provision hereof, but this Joinder
Agreement shall be construed as if such invalid or unenforceable provision had never been contained herein. 
 5.
Counterparts. This Joinder Agreement may be executed in any number of counterparts each of which when so executed and delivered shall be deemed an original, and it shall not be necessary in making proof of this Joinder Agreement to
produce or account for more than one such counterpart executed by the Joining Borrower. Without limiting the foregoing provisions of this Section 5, the provisions of Section 11.10 of the Credit Agreement shall be applicable
to this Joinder Agreement. 
 6. Delivery. The Joining Borrower hereby irrevocably waives notice of acceptance of
this Joinder Agreement and acknowledges that all Obligations under the Credit Agreement and shall be deemed to be incurred, and credit extensions under the Loan Documents made and maintained, in reliance on this Joinder Agreement and the Joining
Borrower’s joinder as a party to the Credit Agreement as herein provided. 
 7. Governing Law; Venue; Waiver of Jury
Trial. The provisions of Sections 11.14 and 11.15 of the Credit Agreement are hereby incorporated by reference as if fully set forth herein. 

[Signature page follows.] 
  

 H-2 

Form of Borrower Joinder Agreement 

 IN WITNESS WHEREOF, the Joining Borrower has duly executed and delivered this Joinder
Agreement as of the day and year first written above. 
  

			
	 JOINING BORROWER:
  

[                         
                                         
                  ]

		
	By:	 	 
	Name:	 	 
	Title:	 	 

  

 
  
  

			
	 Acknowledged and accepted:
  

BANK OF AMERICA, N.A.,
 as Administrative
Agent for the Secured Parties

		
	By:	 	 
	Name:	 	 
	Title:	 	 

  
  

 

 H-3 

Form of Borrower Joinder Agreement 

 Supplemental Schedules 

 

 H-4 

Form of Borrower Joinder Agreement 

			
	Operations Contact:
	 Bank of America, N.A.

135 S. LaSalle Street

	 Chicago, Illinois 60603

	 Attention:
	 	Venus C. Miranda
	 Telephone:
	 	312.992.5062
	 Telecopier:
	 	312.543.6721
	 E-Mail:
	 	venus.c.miranda@baml.com

 L/C ISSUER:

  

			
	BANK OF AMERICA, N.A.
	 Business Capital Trade & International Services Group

	 450 B Street, Suite 430

	 San Diego, California 92101

	 Attention:
	 	JoAnn Regina, Vice President
	 Telephone:
	 	619.515.5793
	 Telecopier:
	 	619.515.7022
	 E-Mail:
	 	joann.regina@baml.com

  

 H-2 

Form of Borrower Joinder Agreement

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00177-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00177-of-00352.parquet"}]]