Document:

EX-10.1

 Exhibit 10.1 
 LOAN AND SECURITY AGREEMENT 
 by and among 

PRIMO WATER CORPORATION 
 PRIMO PRODUCTS, LLC 
 PRIMO DIRECT, LLC 

PRIMO REFILL, LLC 
 and 
 PRIMO ICE, LLC 

(as Borrowers) 
 and 
 PRIMO REFILL CANADA CORPORATION 

(as Guarantor) 
 and 
 TD BANK, N.A. 

(as a Lender and as Agent) 
 and 
 THE LENDERS FROM TIME TO TIME HERETO 

(as Lenders) 
 and 
 TD BANK, N.A. 

(as Arranger and Syndication Agent) 
 and 
 TD BANK, N.A. 

(as Bookrunner) 
 April 30, 2012 

 TABLE OF CONTENTS 

 

					
	 	  	Page	 
	 1. DEFINITIONS
	  	 	1	  
		
	 1.1 Accounting Terms
	  	 	1	  
	 1.2 General Terms
	  	 	1	  
	 1.3 Uniform Commercial Code Terms
	  	 	40	  
	 1.4 Certain Matters of Construction
	  	 	40	  
		
	 2. ADVANCES, PAYMENTS
	  	 	40	  
		
	 2.1 Revolving Advances
	  	 	40	  
	 2.2 Procedure for Borrowing
	  	 	41	  
	 2.3 Disbursement of Advance Proceeds
	  	 	43	  
	 2.4 [Reserved.]
	  	 	44	  
	 2.5 Repayment of Advances
	  	 	44	  
	 2.6 Repayment of Excess Advances
	  	 	45	  
	 2.7 Statement of Account
	  	 	45	  
	 2.8 Letters of Credit
	  	 	45	  
	 2.9 Issuance of Letters of Credit
	  	 	46	  
	 2.10 Requirements for Issuance of Letters of Credit
	  	 	46	  
	 2.11 Additional Payments/Protective Advances
	  	 	47	  
	 2.12 Manner of Borrowing and Payment
	  	 	48	  
	 2.13 Mandatory Prepayments
	  	 	50	  
	 2.14 Use of Proceeds
	  	 	51	  
	 2.15 Defaulting Lender/Impacted Lender
	  	 	51	  
	 2.16 Joint and Several Liability
	  	 	53	  
	 2.17 Interrelated Businesses
	  	 	54	  
	 2.18 Appointment of Administrative Borrower as Agent for Requesting Advances and Letters of Credit and Receipts of Advances and
Statements and Receipts and Sending of Notices
	  	 	54	  
	 2.19 Increase in Maximum Credit
	  	 	55	  
		
	 3. INTEREST AND FEES
	  	 	57	  
		
	 3.1 Interest
	  	 	57	  
	 3.2 Letter of Credit Fees; Cash Collateral
	  	 	58	  
	 3.3 Loan Fees
	  	 	58	  
	 3.4 Computation of Interest and Fees
	  	 	59	  
	 3.5 Maximum Charges
	  	 	59	  
	 3.6 Increased Costs
	  	 	59	  
	 3.7 Basis For Determining Interest Rate Inadequate or Unfair
	  	 	60	  
	 3.8 Capital Adequacy
	  	 	61	  
	 3.9 Withholding Taxes
	  	 	62	  

  
 (i)

					
	 4. GRANT OF SECURITY INTEREST; COLLATERAL COVENANTS
	  	 	63	  
		
	 4.1 Security Interest in the Collateral
	  	 	63	  
	 4.2 Perfection of Security Interest
	  	 	63	  
	 4.3 Preservation of Collateral
	  	 	64	  
	 4.4 Ownership and Location of Collateral
	  	 	64	  
	 4.5 Defense of Agent’s and Lenders’ Interests
	  	 	65	  
	 4.6 Books and Records
	  	 	65	  
	 4.7 Financial Disclosure
	  	 	65	  
	 4.8 Compliance with Laws
	  	 	66	  
	 4.9 Inspection of Premises/Appraisals
	  	 	66	  
	 4.10 Insurance
	  	 	66	  
	 4.11 Failure to Pay Insurance
	  	 	67	  
	 4.12 Payment of Taxes
	  	 	67	  
	 4.13 Payment of Leasehold Obligations
	  	 	67	  
	 4.14 Accounts and other Receivables
	  	 	68	  
	 4.15 Inventory
	  	 	71	  
	 4.16 Maintenance of Equipment
	  	 	72	  
	 4.17 Exculpation of Liability
	  	 	72	  
	 4.18 Environmental Matters
	  	 	72	  
	 4.19 Financing Statements
	  	 	74	  
		
	 5. REPRESENTATIONS AND WARRANTIES
	  	 	74	  
		
	 5.1 Authority, Etc.
	  	 	74	  
	 5.2 Formation and Qualification
	  	 	75	  
	 5.3 Survival of Representations and Warranties
	  	 	75	  
	 5.4 Tax Returns
	  	 	75	  
	 5.5 Financial Statements
	  	 	75	  
	 5.6 Corporate Name
	  	 	76	  
	 5.7 O.S.H.A. and Environmental Compliance
	  	 	77	  
	 5.8 Solvency; No Litigation, Violation of Law; No ERISA Issues
	  	 	77	  
	 5.9 Patents, Trademarks, Copyrights and Licenses
	  	 	79	  
	 5.10 Licenses and Permits
	  	 	79	  
	 5.11 No Contractual Default
	  	 	79	  
	 5.12 No Burdensome Restrictions/No Liens
	  	 	79	  
	 5.13 No Labor Disputes
	  	 	80	  
	 5.14 Margin Regulations
	  	 	80	  
	 5.15 Investment Company Act
	  	 	80	  
	 5.16 Disclosure
	  	 	80	  
	 5.17 Real Property
	  	 	80	  
	 5.18 Hedging Agreements
	  	 	80	  
	 5.19 Conflicting Agreements
	  	 	81	  
	 5.20 Business and Property of Loan Parties
	  	 	81	  
	 5.21 Material Contracts
	  	 	81	  

  
 (ii)

					
	 5.22 Capital Structure
	  	 	82	  
	 5.23 Bank Accounts, Security Accounts, Etc.
	  	 	82	  
	 5.24 Related Agreements
	  	 	83	  
	 5.25 OFAC
	  	 	83	  
		
	 6. AFFIRMATIVE COVENANTS
	  	 	83	  
		
	 6.1 Payment of Fees
	  	 	83	  
	 6.2 Conduct of Business; Compliance with Laws and Maintenance of Existence and Assets
	  	 	84	  
	 6.3 Violations
	  	 	84	  
	 6.4 Government Receivables
	  	 	84	  
	 6.5 Execution of Supplemental Instruments; Further Assurances
	  	 	85	  
	 6.6 Payment of Indebtedness
	  	 	85	  
	 6.7 Standards of Financial Statements
	  	 	85	  
	 6.8 Post-Closing Deliveries
	  	 	85	  
		
	 7. NEGATIVE COVENANTS
	  	 	86	  
		
	 7.1 Merger, Amalgamation, Consolidation, Acquisition and Sale of Assets
	  	 	86	  
	 7.2 Creation of Liens
	  	 	88	  
	 7.3 Guarantees
	  	 	88	  
	 7.4 Investments
	  	 	88	  
	 7.5 Loans
	  	 	89	  
	 7.6 Capital Expenditures
	  	 	90	  
	 7.7 Dividends and Distributions
	  	 	90	  
	 7.8 Indebtedness
	  	 	91	  
	 7.9 Nature of Business
	  	 	93	  
	 7.10 Transactions with Affiliates
	  	 	93	  
	 7.11 Leases
	  	 	93	  
	 7.12 Subsidiaries
	  	 	93	  
	 7.13 Fiscal Year and Accounting Changes
	  	 	94	  
	 7.14 Pledge of Credit
	  	 	94	  
	 7.15 Amendment of Organizational Documents; Term Loan Documents; and other Related Agreements
	  	 	94	  
	 7.16 Compliance with ERISA
	  	 	94	  
	 7.17 Prepayment, Etc. of Money Borrowed
	  	 	95	  
	 7.18 State of Organization/Names/Locations
	  	 	95	  
	 7.19 Foreign Assets Control Regulations, Etc.
	  	 	95	  
		
	 8. CONDITIONS PRECEDENT
	  	 	96	  
		
	 8.1 Conditions to Initial Advances
	  	 	96	  
	 8.2 Conditions to Each Advance
	  	 	99	  

  
 (iii)

					
	 9. INFORMATION AS TO LOAN PARTIES
	  	 	100	  
		
	 9.1 Disclosure of Material Matters Pertaining to Collateral
	  	 	100	  
	 9.2 Collateral and Related Reports
	  	 	100	  
	 9.3 Environmental Reports
	  	 	103	  
	 9.4 Litigation
	  	 	103	  
	 9.5 Material Occurrences
	  	 	104	  
	 9.6 Government Receivables
	  	 	104	  
	 9.7 Annual Financial Statements
	  	 	104	  
	 9.8 [Reserved.]
	  	 	105	  
	 9.9 Monthly Financial Statements
	  	 	105	  
	 9.10 Notices re Equity Holders; the Term Loan Documents
	  	 	105	  
	 9.11 Additional Information
	  	 	106	  
	 9.12 Projected Operating Budget
	  	 	106	  
	 9.13 Variances From Operating Budget
	  	 	106	  
	 9.14 Notice of Governmental Body Items
	  	 	106	  
	 9.15 ERISA Notices and Requests
	  	 	107	  
	 9.16 Notice of Change in Management, Etc.
	  	 	107	  
	 9.17 Additional Documents
	  	 	107	  
		
	 10. EVENTS OF DEFAULT
	  	 	107	  
		
	 11. LENDERS’ RIGHTS AND REMEDIES AFTER EVENT OF DEFAULT
	  	 	110	  
		
	 11.1 Rights and Remedies
	  	 	110	  
	 11.2 Waterfall
	  	 	112	  
	 11.3 Agent’s Discretion
	  	 	113	  
	 11.4 Setoff
	  	 	113	  
	 11.5 Rights and Remedies not Exclusive
	  	 	113	  
	 11.6 Commercial Reasonableness
	  	 	113	  
		
	 12. WAIVERS AND JUDICIAL PROCEEDINGS
	  	 	114	  
		
	 12.1 Waiver of Notice
	  	 	114	  
	 12.2 Delay
	  	 	114	  
	 12.3 Jury Waiver
	  	 	114	  
	 12.4 Waiver of Counterclaims
	  	 	115	  
		
	 13. EFFECTIVE DATE AND TERMINATION
	  	 	115	  
		
	 13.1 Term
	  	 	115	  
	 13.2 Termination
	  	 	115	  
		
	 14. REGARDING AGENT
	  	 	115	  
		
	 14.1 Appointment
	  	 	115	  
	 14.2 Nature of Duties
	  	 	116	  
	 14.3 Lack of Reliance on Agent and Resignation
	  	 	116	  
	 14.4 Certain Rights of Agent
	  	 	117	  
	 14.5 Reliance
	  	 	117	  
	 14.6 Notice of Default
	  	 	118	  
	 14.7 Indemnification
	  	 	118	  
	 14.8 Agent in its Individual Capacity
	  	 	118	  
	 14.9 Actions in Concert
	  	 	118	  
	 14.10 Intercreditor Agreements/Subordination Agreements
	  	 	119	  

  
 (iv)

					
	 15. GUARANTEE
	  	 	120	  
		
	 15.1 Guarantee; Contribution Rights
	  	 	120	  
	 15.2 Waivers
	  	 	120	  
	 15.3 No Defense
	  	 	120	  
	 15.4 Guarantee of Payment
	  	 	121	  
	 15.5 Liabilities Absolute
	  	 	121	  
	 15.6 Waiver of Notice
	  	 	122	  
	 15.7 Agent’s Discretion
	  	 	122	  
	 15.8 Reinstatement
	  	 	122	  
	 15.9 No Marshalling, Etc.
	  	 	123	  
	 15.10 Action Upon Event of Default
	  	 	124	  
	 15.11 Statute of Limitations
	  	 	124	  
	 15.12 Interest
	  	 	124	  
	 15.13 Guarantor’s Investigation
	  	 	124	  
	 15.14 Termination of Guarantee
	  	 	125	  
	 15.15 Extension of Guarantee
	  	 	125	  
	 15.16 Applicability to Borrowers
	  	 	125	  
		
	 16. MISCELLANEOUS
	  	 	125	  
		
	 16.1 Governing Law; Consent to Jurisdiction; Etc.
	  	 	125	  
	 16.2 Entire Understanding; Amendments; Lender Replacements; Overadvances
	  	 	126	  
	 16.3 Successors and Assigns; Participations; New Lenders; Taxes; Syndication
	  	 	128	  
	 16.4 Application of Payments
	  	 	131	  
	 16.5 Indemnity/Currency Indemnity
	  	 	131	  
	 16.6 Notice
	  	 	132	  
	 16.7 Survival
	  	 	133	  
	 16.8 Postponement of Subrogation, Etc. Rights
	  	 	133	  
	 16.9 Severability
	  	 	133	  
	 16.10 Expenses
	  	 	133	  
	 16.11 Injunctive Relief
	  	 	134	  
	 16.12 Consequential Damages
	  	 	134	  
	 16.13 Captions
	  	 	135	  
	 16.14 Counterparts; Facsimile or Emailed Signatures
	  	 	135	  
	 16.15 Construction
	  	 	135	  
	 16.16 Confidentiality; Sharing Information
	  	 	135	  
	 16.17 Publicity
	  	 	136	  
	 16.18 Patriot Act Notice
	  	 	136	  
	 16.19 Agent Titles
	  	 	136	  
	 16.20 Conflict with Term Loan Intercreditor Agreement
	  	 	136	  

  
 (v)

 List of Exhibits and Schedules 

Exhibits 
  

			
	Exhibit A	 	Form of Borrowing Base Certificate
	Exhibit B	 	Form of Notice of Conversion
	Exhibit C	 	Form of Notice of Advance Request
	Exhibit 9.7	 	Form of Compliance Certificate
	Exhibit 16.3	 	Form of Commitment Transfer Supplement
	
	Schedules
		
	Schedule C-1	 	Commitments
	Schedule R-1	 	Real Property
	Schedule 2.3	 	Payment Account; Disbursements of Advance Proceeds
	Schedule 4.4	 	Equipment, Inventory and Books and Records Locations
	Schedule 4.14(c)	 	Location of Chief Executive Offices
	Schedule 5.2(a)	 	Jurisdictions of Qualification and Good Standing
	Schedule 5.2(b)	 	Subsidiaries
	Schedule 5.4	 	Federal Tax Identification Number
	Schedule 5.6	 	Corporate Names
	Schedule 5.8(b)	 	Litigation / Commercial Tort Claims / Money Borrowed
	Schedule 5.8(d)	 	Plans
	Schedule 5.9	 	Intellectual Property, Source Code Escrow Agreements
	Schedule 5.13	 	Labor Disputes
	Schedule 5.21	 	Material Contracts
	Schedule 5.22	 	Capital Structure
	Schedule 5.23	 	Bank Accounts
	Schedule 6.8	 	Bank Accounts
	Schedule 7.2	 	Existing Liens
	Schedule 7.8	 	Existing Indebtedness

  
 -i-

 LOAN AND SECURITY AGREEMENT 

This LOAN AND SECURITY AGREEMENT (this “Agreement”), dated April 30, 2012, is entered into by and among PRIMO WATER
CORPORATION, a corporation organized under the laws of the State of Delaware (“Parent”), PRIMO PRODUCTS, LLC, a limited liability company organized under the laws of the State of North Carolina (“Products”), PRIMO DIRECT, LLC, a
limited liability company organized under the laws of the State of North Carolina (“Direct”), PRIMO REFILL, LLC, a limited liability company organized under the laws of the State of North Carolina (“Refill”), PRIMO ICE, LLC, a
limited liability company organized under the laws of the State of North Carolina (“ICE”; and together with Parent, Products, Direct, Refill and any other Person that at any time after the date hereof becomes a Borrower, each a
“Borrower” and collectively, the “Borrowers”), PRIMO REFILL CANADA CORPORATION, a corporation organized under the laws of the Province of British Columbia, Canada (“Canadian Guarantor”; and together with any other
Person that at any time after the date hereof becomes a Guarantor, each a “Guarantor” and collectively, the “Guarantors”), the lenders which are now or which hereafter become a party hereto (each a “Lender” and
collectively, the “Lenders”) and TD BANK, N.A., a national banking association (in its individual capacity, “TD Bank”), in its capacity as agent (TD Bank, in such capacity, the “Agent”) for Secured Parties (as
hereinafter defined). 
 IN CONSIDERATION of the mutual covenants and undertakings herein contained, Loan Parties, Lenders and
Agent hereby agree as follows: 
 1. DEFINITIONS. 
 1.1 Accounting Terms. 
 As used in this Agreement, the Note(s), any Other
Document, or any certificate, report or other document made or delivered pursuant to this Agreement, accounting terms not defined in Section 1.2 or elsewhere in this Agreement and accounting terms partly defined in Section 1.2 to the
extent not defined, shall have the respective meanings given to them under GAAP. 
 1.2 General Terms. 

For purposes of this Agreement the following terms shall have the following meanings: 

“Accountants” shall have the meaning set forth in Section 9.7. 

“Accounts” shall mean and include as to each Loan Party and each of its Subsidiaries, all of such Loan Party’s and
Subsidiary’s “accounts” as defined in the UCC, whether now owned or hereafter acquired including, without limitation all present and future rights of such Loan Party to payment of a monetary obligation, whether or not earned by
performance, which is not evidenced by chattel paper or an instrument, (a) for property that has been or is to be sold, leased, licensed, assigned, or otherwise disposed of, (b) for services rendered or to be rendered, (c) for a
secondary obligation incurred or to be incurred, or (d) arising out of the use of a credit or charge card or information contained on or for use with any such card. 

 “Acquisition Pro Forma” shall have the meaning set forth in the definition of
Permitted Acquisition. 
 “Administrative Borrower” shall mean Parent, in its capacity as Administrative Borrower on
behalf of itself and the other Borrowers pursuant to Section 2.18 hereof, and its successors and assigns in such capacity. 

“Advances” shall mean the Revolving Advances (including without limitation the Protective Advances) and Swingline Loan
Advances, or any of them as the context implies. 
 “Advance Rates” shall mean the lending formula percentages set
forth in the definition of Borrowing Base. 
 “Affiliate” of any Person shall mean (a) any Person (other than a
Subsidiary) which, directly or indirectly, is in control of, is controlled by, or is under common control with such Person, or (b) any Person who is a director, manager or officer (i) of such Person, (ii) of any Subsidiary of such
Person or (iii) of any Person described in clause (a) above. For purposes of this definition, control of a Person shall mean the power, direct or indirect, (A) to vote twenty (20%) percent or more of the Equity Interests having
ordinary voting power for the election of directors or managers (or other comparable body) of such Person, or (B) to direct or cause the direction of the management and policies of such Person whether by contract or otherwise. 

“Agent” shall have the meaning set forth in the preamble to this Agreement and shall include its successors and assigns.

 “Agreement” shall mean this Loan and Security Agreement, as amended, restated, modified and supplemented from time
to time. 
 “Applicable Margin” for each type of Advance shall mean, at any time: 

(a) subject to clause (b) below, the applicable percentage (on a per annum basis) set forth in the chart below for Base Rate Loans
and for LIBOR Rate Loans, respectively, that will result, in accordance with such chart, if the Quarterly Average Excess Availability for the immediately preceding calendar quarter is in an amount within the range indicated in the chart below for
such percentage: 
  

											
	 Tier
	  	 Quarterly Average

Excess Availability
	  	Applicable Margin
for Base Rate Loans	 	 	Applicable Margin
for LIBOR
Rate
Loans	 
	 I
	  	Greater than $12,000,000	  	 	2.25	% 	 	 	3.25	% 
	 II
	  	Less than or equal to $12,000,000 but greater than $7,500,000	  	 	2.50	% 	 	 	3.50	% 
	 III
	  	Less than or equal to $7,500,000	  	 	2.75	% 	 	 	3.75	% 

  
 2 

 (b) Notwithstanding anything to the contrary set forth in clause
(a) above, (i) until the first (1st) day of
the first (1st) quarter that follows the date that is
six (6) months after the Closing Date, the Applicable Margin for the interest rate for Base Rate Loans and for LIBOR Rate Loans shall be the applicable percentage calculated based on the percentage set forth in Tier II set forth above, and for
each calendar quarter thereafter, the interest rate will be adjusted quarterly thereafter, on the first (1st) day of each calendar quarter, based on the Quarterly Average Excess Availability and the chart set forth above, (ii) the Applicable Margin shall be calculated and established once each
calendar quarter, based upon the Quarterly Average Excess Availability for the immediately preceding calendar quarter and shall remain in effect until adjusted thereafter (if applicable) at the beginning of the next calendar quarter, and
(iii) each adjustment of the Applicable Margin shall be effective as of the first (1st) day of a calendar quarter based on the Quarterly Average Excess Availability for the immediately preceding calendar quarter. In the event that at any time after the end of a calendar quarter the
Quarterly Average Excess Availability for the prior calendar quarter used for the determination of the Applicable Margin of such recently ended calendar quarter was less than the actual amount of the Quarterly Average Excess Availability for such
prior calendar quarter, the Applicable Margin of such recently ended calendar quarter shall be adjusted to the applicable percentage based on such actual Quarterly Average Excess Availability, as determined by Agent, and any additional interest for
the applicable period as a result of such recalculation shall be promptly paid to Agent. In the event that the Quarterly Average Excess Availability for the prior calendar quarter used for the determination of the Applicable Margin of such recently
ended calendar quarter was greater than the actual amount of the Quarterly Average Excess Availability, the Applicable Margin of such recently ended calendar quarter shall be adjusted to the applicable percentage based on such actual Quarterly
Average Excess Availability, and any reduction in interest for the applicable period as a result of such recalculation shall be promptly credited to the loan account of Borrowers. The foregoing provisions that provide for a credit to the loan
account of Borrowers shall not be construed to limit the rights of Agent or Lenders with respect to the amount of interest payable after a Default or Event of Default, whether based on such recalculated percentage or otherwise, but this sentence
shall not affect the right of Borrowers to have such credit. 
 “Approved Fund” shall mean (a) any fund, trust or
similar entity that invests in commercial loans in the ordinary course of business and is advised or managed by (i) a Lender, (ii) a Controlled Affiliate of a Lender, (iii) the same investment advisor that manages a Lender or
(iv) a Controlled Affiliate of an investment advisor that manages a Lender or (b) any finance company, insurance company or other financial institution which temporarily warehouses loans for any Lender or any Person described in clause
(a) above. 
 “Arranger” shall mean TD Bank, in its capacity as lead arranger. 

“Authority” shall have the meaning set forth in Section 4.18(d). 

“Availability Block” shall mean $2,000,000. 
 “Bank Product Agreement” shall mean those agreements entered into from time to time by any Loan Party or its Subsidiaries with a Bank Product Provider in connection with the obtaining of any of
the Bank Products. 
 “Bank Product” shall mean any service or facility extended to any Loan Party by a Bank Product
Provider including: (a) credit cards, (b) debit cards, (c) purchase cards, (d) credit card, debit card and purchase card processing services, (e) treasury, cash management or related services (including the Automated
Clearing House processing of electronic funds transfers through the direct Federal Reserve Fedline system), (f) cash management, including controlled disbursement, accounts or services, (g) return items, netting, overdraft and interstate
depositary network services or (h) Hedging Agreements. 

  
 3 

 “Bank Product Obligations” shall mean all obligations, liabilities, contingent
reimbursement obligations, fees, and expenses owing by any Loan Party to a Bank Product Provider pursuant to or evidenced by the Bank Product Agreements and irrespective of whether for the payment of money, whether direct or indirect, absolute or
contingent, due or to become due, now existing or hereafter arising, and including all such amounts that any Loan Party is obligated to reimburse to a Bank Product Provider as a result of such Person purchasing participations or executing
indemnities or reimbursement obligations with respect to the Bank Products provided to any Loan Party pursuant to the Bank Product Agreements. 
 “Bank Product Provider” shall mean (a) TD Bank or any of its Affiliates or (b) any Lender or any Affiliate of any Lender (in each case as to any Lender or any Affiliate of any Lender,
to the extent approved by Agent in its Permitted Discretion) that provides any Bank Products to any Loan Party. 

“Bankruptcy Code” shall have the meaning set forth in Section 2.16(a) and shall include, with respect to Canadian
Guarantor, the Bankruptcy & Insolvency Act, the Companies’ Creditors Arrangement Act, the Winding Up and Restructuring Act and the Business Corporations Act (Ontario) and any other statute with similar application regarding the
restructuring, reorganization, winding up or liquidation of a debtor. 
 “Base Rate” shall mean, for any day (or if
such day is not a Business Day, the immediately preceding Business Day), a rate per annum (rounded upward, if necessary, to the next 1/100th of one (1%) percent) equal to the greater of (a) the Prime Rate, (b) the Federal Funds
Effective Rate in effect on such day plus one-half of one (0.50%) percent, and (c) the LIBOR Rate for a LIBOR Loan with a one (1) month interest period plus one (1%) percent. If the Agent shall have determined in its reasonable
discretion (which determination shall be conclusive absent manifest error) that it is unable to ascertain the Federal Funds Effective Rate for any reason, including the inability or failure of the Agent to obtain sufficient quotations in accordance
with the terms of the definition thereof, the Base Rate shall be determined without regard to clause (b) of the preceding sentence until the circumstances giving rise to such inability no longer exist. Any change in the Base Rate due to a
change in the Prime Rate, the Federal Funds Effective Rate or the LIBOR Rate shall be effective on the effective date of such change in the Prime Rate, the Federal Funds Effective Rate or the LIBOR Rate, respectively. The term “Federal Funds
Effective Rate” shall mean, for any period, a fluctuating interest rate per annum equal, for each day during such period, to the weighted average of the rates on overnight Federal Funds transactions with members of the Federal Reserve System
arranged by Federal Funds brokers, as published for such day (or, if such day is not a Business Day, for the next preceding Business Day) by the Federal Reserve Bank of New York, or, if such rate is not published for any day that is a Business Day,
the average of the quotations for such day on such transactions received by Agent from three Federal Funds brokers of recognized standing selected by Agent. 
 “Base Rate Loan” shall mean any Advance that bears interest based upon the Base Rate. 

  
 4 

 “Benefited Lender” shall have the meaning set forth in Section 2.12(f).

 “BIA” shall mean the Bankruptcy and Insolvency Act (Canada), R.S.C. 1985, c. B-3, as the same now exists or may
from time to time hereafter be amended, modified, recodified or supplemented, together with all official rules, regulations and interpretations thereunder or related thereto. 
 “Blocked Accounts” shall have the meaning set forth in Section 4.14(h). 
 “Borrower” or “Borrowers” shall have the meanings set forth in the preamble to this Agreement and shall extend to all permitted successors and assigns of such Persons. 

“Borrowers’ Account” shall have the meaning set forth in Section 2.7. 

“Borrowing Base” shall mean, at any time, the amount equal to: 

(a) eighty-five (85%) percent of Eligible Accounts, plus  

(b) the amount equal to the least of (i) sixty-five (65%) percent of the Value of the Eligible Inventory, (ii) eighty-five
(85%) percent of the Net Liquidation Percentage multiplied by the Value of the Eligible Inventory or (iii) the Inventory Loan Limit, minus 
 (c) the Availability Block, minus 
 (d) Reserves. 

“Borrowing Base Certificate” shall mean a certificate duly executed by a Responsible Officer of Administrative Borrower
appropriately completed and in substantially the form of Exhibit A, as such form may from time to time be modified by Agent (in consultation with Administrative Borrower) in a manner consistent with the terms of this Agreement. 

“Business Day” shall mean any day other than a Saturday, Sunday or other day on which commercial banks under the laws of the
State of New York, the State of New Jersey or the State of New Hampshire are authorized or required by law to close, and, if the applicable Business Day relates to any LIBOR Rate Loan, a day on which dealings are carried on in the London interbank
market. 
 “Canadian Dollars” or “C$” shall mean the lawful currency of Canada. 

“Canadian Guarantor” shall have the meaning set forth in the preamble to this Agreement. 

“Capital Expenditures” shall mean, with respect to any Person, without duplication, all expenditures (including deposits) made
by such Person for, or contracts for expenditures with respect to any fixed assets or improvements, or for replacements, substitutions or additions thereto, which have a useful life of more than one (1) year, including the direct or indirect
acquisition of such assets by way of increased product or service charges, offset items or otherwise, as determined in accordance GAAP consistently applied and all other expenditures which, in accordance with GAAP, would be required to be
capitalized and shown on the consolidated balance sheet of such Person. 

  
 5 

 “Capital Lease” shall mean any lease of any property (whether real, personal or
mixed) that, in conformity with GAAP consistently applied, should be accounted for as a capital lease. 
 “Cash
Equivalents” shall mean: (a) marketable direct obligations issued or unconditionally guaranteed by the United States Government or issued by any agency thereof and backed by the full faith and credit of the United States, in each case
maturing within one (1) year from the date of acquisition thereof; (b) commercial paper maturing no more than six (6) months from the date issued and, at the time of acquisition, having a rating of at least A-1 from
Standard & Poor’s Corporation or at least P-1 from Moody’s Investors Service, Inc.; (c) certificates of deposit or bankers’ acceptances maturing within one (1) year from the date of issuance thereof issued by, or
overnight reverse repurchase agreements from, any commercial bank organized under the laws of the United States of America or any state thereof or the District of Columbia having combined capital and surplus of not less than $500,000,000 and whose
debt obligations, or those of a holding company of which it is a Subsidiary, are rated not less than A (or the equivalent rating) by a nationally recognized investment rating agency (an “A Rated Bank”); (d) time deposits maturing no
more than thirty (30) days from the date of creation thereof with A Rated Banks; (e) mutual funds that invest solely in one or more of the investments described in clauses (a) through (d) above; and (f) with respect to such
investments in currencies other than Dollars or in jurisdictions other than the United States, other investments reasonably deemed by a Loan Party to be equivalent to the investments described in clauses (a) through (e) above. 

“Cash Interest Expense” shall mean, without duplication, for any period, Interest Expense (excluding the following non-cash
components of Interest Expense: (a) the amortization of fees and costs with respect to the transactions contemplated by this Agreement which have been capitalized as transaction costs, and (b) interest paid in kind). 

“Cash Receipt Account” or “Cash Receipt Accounts” shall mean, individually or collectively, all lockbox accounts,
dominion accounts or other deposit accounts established and maintained by Loan Parties for the purpose of collecting or depositing cash, checks, notes, instruments, and other items of payment (including insurance proceeds, cash proceeds of asset
sales, rental proceeds, and tax refunds), and which are designated as such and listed on Schedule 5.23. 

“CERCLA” shall mean the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended, 42 U.S.C.
§§9601 et seq. 
 “CFC” shall mean a “controlled foreign corporation” as defined in
Section 957 of the Code. 
 “Change in Tax Law” shall mean a change in the treaty, law or regulation after the
date on which the applicable Agent or Lender becomes a party to this Agreement (or, if such Lender is a non-U.S. intermediary or flow-through entity for U.S. federal income tax purposes, after the relevant beneficiary or member of such Lender became
such a beneficiary or member, if later); provided, however, such term does not include regulations or other guidance issued by the IRS or U.S. Treasury implementing or interpreting laws already enacted, but not yet effective.

 “Change of Control” shall mean the occurrence of any event (whether in one or more transactions) which results in
(a) fifty-one (51%) percent or more of the Voting Equity Interests of Parent is owned and controlled by a single Person (as such term is used in Section 13(d)(3) of the Exchange Act), (b) one hundred (100%) percent of the
Equity Interests of each Borrower (other than Parent) is no longer owned and controlled by Parent, (c) one hundred (100%) percent of the Equity Interests of each Loan Party (other than Borrowers and Parent) is no longer owned and
controlled directly or indirectly by Borrowers or Parent or (d) a “Change of Control” or other similar event shall occur, as defined in, or under, the Term Loan Documents. 

  
 6 

 “Charges” shall mean all taxes, charges, fees, imposts, levies or other
assessments, including, without limitation, all net income, gross income, gross receipts, sales, use, ad valorem, value added, transfer, franchise, profits, inventory, capital stock, license, withholding, payroll, employment, social security,
unemployment, excise, severance, stamp, occupation and property taxes, custom duties, fees, assessments, Liens, claims and charges of any kind whatsoever, together with any interest and any penalties, additions to tax or additional amounts, imposed
by any taxing or other authority, domestic or foreign (including, without limitation, the PBGC or any environmental agency or superfund), upon the Collateral, any Loan Party or any Subsidiary of any Loan Party. 

“Closing Date” shall mean April 30, 2012. 
 “Code” shall mean the Internal Revenue Code of 1986, as amended from time to time and the regulations promulgated thereunder. 

“Collateral” shall mean any and all collateral granted under this Agreement or any Other Document to secure any and all of the
Obligations, including without limitation all tangible and intangible property of each Loan Party, all personal and real property of each Loan Party, all movable and immovable property of each Loan Party, in each case whether now owned or hereafter
acquired and wherever located, including, but not limited to, the following of each Loan Party: 
 (a) all Accounts and other
Receivables; 
 (b) all certificated and uncertificated securities; 

(c) all chattel paper, including electronic chattel paper; 
 (d) all Computer Hardware and Software and all rights with respect thereto, including, any and all licenses, options, warranties, service contracts, program services, test rights, maintenance rights,
supporting information, improvement rights, renewal rights and indemnifications, and any substitutions, replacements, additions or model conversions of any of the foregoing; 
 (e) all Contract Rights; 
 (f) all commercial tort claims, (including, without
limitation any commercial tort claims from time to time described on Schedule 5.8(b) (as such Schedule 5.8(b) may from time to time be updated)); 
 (g) all deposit accounts; 
 (h) all documents; 

(i) all financial assets; 

  
 7 

 (j) all General Intangibles, including payment intangibles and software; 

(k) all goods (including all Equipment and Inventory), and all embedded software, accessions, additions, attachments, improvements,
substitutions and replacements thereto and therefor; 
 (l) all instruments; 

(m) all Intellectual Property; 
 (n) all Investment Property; 
 (o) all of the Equity Interests issued by each Loan
Party (other than Parent) and each of their Subsidiaries; 
 (p) all leasehold interests; 

(q) all cash, cash equivalents or other money; 
 (r) all letter of credit rights; 
 (s) all security entitlements; 

(t) all supporting obligations; 
 (u) all of each Loan Party’s right, title and interest in and to (i) all of its respective goods and other property including, but not limited to, all merchandise returned or rejected by
Customers, relating to or securing any of the Receivables; (ii) all of each Loan Party’s rights as a consignor, a consignee, an unpaid vendor, mechanic, artisan, or other lienor, including stoppage in transit, setoff, compensation,
detinue, replevin, reclamation and repurchase; (iii) all supporting obligations and all additional amounts due to any Loan Party from any Customer relating to the Receivables; (iv) all other property of any kind whatsoever of each Loan
Party, including, but not limited to, warranty claims, relating to any goods; (v) all of each Loan Party’s Contract Rights, rights of payment which have been earned under a Contract Right, letter of credit rights (whether or not the letter
of credit is evidenced by a writing), instruments (including promissory notes), documents, chattel paper (whether tangible or electronic), warehouse receipts, deposit accounts, money and securities; (vi) if and when obtained by any Loan Party,
all real, immovable, movable and personal property of third parties in which such Loan Party has been granted a Lien; and (vii) any other goods, movable or personal property or real or immovable property of any kind or description, wherever
located, now or hereafter owned or acquired by any Loan Party; and 
 (v) all books, records, writings, data bases, information
and other property relating to, used or useful in connection with, or evidencing, embodying, incorporating or referring to any of the foregoing, and all proceeds, products, offspring, rents, issues, profits and returns of and from any of the
foregoing; 
 provided, however, that, no Excluded Assets shall be included in Collateral. 

  
 8 

 “Collateral Access Agreement” shall mean an agreement in writing, in form and
substance reasonably satisfactory to Agent, from any lessor of premises to any Loan Party, or any other Person to whom any Collateral is consigned or who has custody, control or possession of any such Collateral or is otherwise the owner or operator
of any premises on which any of such Collateral is located, duly executed and delivered in favor of Agent with respect to the Collateral at such premises or otherwise in the custody, control or possession of such lessor, consignee or other Person.

 “Commitment” shall mean, with respect to each Lender, its Revolver Commitment or its Swingline Loan Commitment, as
the context requires, and, with respect to all Lenders, their Revolver Commitments or their Swingline Loan Commitments, as the context requires, in each case as such Dollar amounts are set forth beside such Lender’s name under the applicable
heading on Schedule C-1 or in the Commitment Transfer Supplement pursuant to which such Lender became a Lender hereunder, as such amounts may be reduced or increased from time to time pursuant to assignments made in accordance with the
provisions of this Agreement. 
 “Commitment Percentage” shall mean (i) prior to the Revolver Commitments being
terminated or reduced to zero, the percentage obtained by dividing (y) such Lender’s Revolver Commitment, by (z) the aggregate Revolver Commitments of all Lenders, and (ii) from and after the time that the Revolver Commitments
have been terminated or reduced to zero, the percentage obtained by dividing (y) the outstanding principal amount of such Lender’s Advances and ratable portion in Letters of Credit by (z) the outstanding principal amount of all
Advances made by the Lenders (inclusive of all Swingline Loan Advances made by Swingline Lender and all Letters of Credit. 

“Commitment Transfer Supplement” shall mean a document in the form of Exhibit 16.3, properly completed, or
otherwise in form and substance reasonably satisfactory to Agent, by which a Purchasing Lender purchases and assumes all or a portion of Advances made by a Lender and/or all or a portion of the Commitments of a Lender. 

“Compliance Certificate” shall mean the Compliance Certificate executed and delivered by a Responsible Officer of
Administrative Borrower’s pursuant to Sections 9.7, 9.8 and 9.9 in the form of Exhibit 9.7 appended hereto. 

“Computer Hardware and Software” shall mean all of each Loan Party’s and each of its Subsidiary’s rights (including
rights as licensee and lessee) with respect to (a) computer and other electronic data processing hardware, including all integrated computer systems, central processing units, memory units, display terminals, printers, computer elements, card
readers, tape drives, hard and soft disk drives, cables, electrical supply hardware, generators, power equalizers, accessories, peripheral devices and other related computer hardware; (b) all software and all software programs designed for use
on the computers and electronic data processing hardware described in clause (a) above, including all operating system software, utilities and application programs in whatsoever form (source code and object code in magnetic tape, disk or hard
copy format or any other listings whatsoever); (c) any firmware associated with any of the foregoing; and (d) any documentation for hardware, software and firmware described in clauses (a), (b) and (c) above, including flow
charts, logic diagrams, manuals, specifications, training materials, charts and pseudo codes. 

  
 9 

 “Consents” shall mean all filings and all licenses, permits, consents, approvals,
authorizations, qualifications and orders of Governmental Bodies and other third parties, domestic or foreign, necessary to carry on any Loan Party’s business or to permit the effectuation and performance of this Agreement, the Other Documents
and the Related Transactions, including, without limitation, any Consents required under all applicable federal, state or other applicable law. 
 “Contra Claims” shall have the meaning set forth in subparagraph (l) of the definition of Eligible Accounts. 
 “Contract Right” shall mean any right of each Loan Party to payment under a contract for the sale or lease of goods or the rendering of services, which right is at the time not yet earned by
performance. 
 “Control Notice” shall mean a written notice delivered by Agent pursuant to a “control” or
other agreements instructing the depository bank to comply with instructions originated by Agent with respect to the Blocked Account that is covered thereby without further consent of Loan Parties. 

“Controlled Affiliate” of any Person shall mean any Person which, directly or indirectly, is in control of, is controlled by,
or is under common control with such Person. For purposes of this definition, control of a Person shall mean the power, direct or indirect, to (a) vote fifty-one (51%) percent or more of the Equity Interests having ordinary voting power
for the election of directors or managers (or other comparable body) of such Person, and (b) to direct or cause the direction of the management and policies of such Person whether by contract or otherwise. 

“Controlled Group” shall mean all members of a controlled group of corporations and all trades or businesses (whether or not
incorporated) under common control which, together with any Loan Party, are treated as a single employer under Section 414 of the Code. 
 “Currency Due” shall have the meaning set forth in Section 16.5. 

“Customer” shall mean and include the account debtor with respect to any Receivable and/or the prospective purchaser of goods,
services or both with respect to any contract or Contract Right, and/or any party who enters into or proposes to enter into any contract or other arrangement with any Loan Party, pursuant to which such Loan Party is to deliver any personal property
or perform any services. 
 “Customs” shall mean the United States of America Customs and Border Protection Agency of
the United States Department of Homeland Security. 
 “Default” shall mean an event which, with the giving of notice
or passage of time or both, would constitute an Event of Default. 
 “Default Rate” shall have the meaning set forth
in Section 3.1. 
 “Defaulting Lender” shall have the meaning set forth in Section 2.15(a). 

“Depository Accounts” shall have the meaning set forth in Section 4.14(h). 

  
 10 

 “Disposition” shall have the meaning set forth in Section 7.1; and
“Dispose” shall have the correlative meaning. 
 “Dollar” and the sign “$” shall mean lawful money
of the United States of America. 
 “Dollar Equivalent” shall mean, at any time, (a) as to any amount denominated
in Dollars, the amount thereof at such time, and (b) as to any amount denominated in a currency other than Dollars, the equivalent amount in Dollars as reasonably determined by Agent at such time that such amount could be converted into Dollars
by Agent according to prevailing exchange rates selected by Agent. 
 “EBITDA” shall mean for any period, without
duplication, the total of the following for Loan Parties and their Subsidiaries on a consolidated basis, each calculated for such period: 
 (a) Net Income; plus 
 (b) (without duplication), to the extent included in
the calculation of Net Income, the sum of (i) income and franchise taxes paid or accrued, (ii) Interest Expense, net of interest income, paid or accrued, (iii) amortization and depreciation, (iv) non-cash and/or non-recurring
impairment charges, (v) non-cash and/or non-recurring compensation expense, (vi) non-cash and/or non-recurring equity charges and (vii) non-cash and/or non-recurring charges related to acquisition, severance and reserves in an amount
not to exceed $500,000 in the aggregate during any fiscal year; less 
 (c) (without duplication), to the extent included
in the calculation of Net Income, the sum of (i) the income of any Person (other than a Loan Party or a Subsidiary of any Loan Party) in which any Loan Party or a Subsidiary of any Loan Party has an ownership interest except to the extent such
income is received by any Loan Party or such Subsidiary in a cash distribution during such period, (ii) gains or losses from sales or other dispositions of assets (other than sales of Inventory in the normal course of business) and
(iii) the greater of (A) $0 and (B) the sum of extraordinary or non-recurring gains less extraordinary or non-recurring losses. 
 “Eligible Accounts” shall mean and include each Account of a Borrower and Canadian Guarantor arising in the ordinary course of such Borrower’s or Canadian Guarantor’s business and
which Agent, in its Permitted Discretion shall deem to be an Eligible Account, based on such considerations as Agent may from time to time deem appropriate in its Permitted Discretion. In addition, without limiting the foregoing, in no event shall
an Account be an Eligible Account if: 
 (a) (i) with respect to each Borrower, it does not arise from the actual and bona fide
sale and delivery of goods or rendition of services by such Borrower in the ordinary course of business of such Borrower, which transactions are completed in accordance in all material respects with the terms and provisions contained in any
agreement binding on such Borrower, and (ii) with respect to Canadian Guarantor, it does not arise from the actual and bona fide sale and delivery of goods or rendition of services by Canadian Guarantor in the ordinary course of Canadian
Guarantor’s exchange business, which transactions are completed in accordance in all material respects with the terms and provisions contained in any agreement binding on Canadian Guarantor (it being understood and agreed that any Account of
Canadian Guarantor that does not arise out of Canadian Guarantor’s exchange business shall not be an Eligible Account hereunder); 

  
 11 

 (b) it is due or unpaid more than the earlier of (i) sixty (60) days after the
original due date and (ii) one hundred twenty (120) days after the original invoice date; 
 (c) it is owed by a
Customer who has Accounts unpaid more than the earlier of (i) sixty (60) days after the original due date and (ii) one hundred twenty (120) days after the original invoice date, which unpaid Accounts constitute more than fifty
(50%) percent of the total Accounts of such Customer (such percentage may, in Agent’s sole discretion, be increased or decreased from time to time); 
 (d) it is not subject to the first priority, valid and perfected Lien of Agent (except with respect to the Term Loan Priority Collateral (subject to the Term Loan Intercreditor Agreement) and subject to
Permitted Encumbrances; but without limiting the right of Agent to establish any Reserves with respect to Permitted Encumbrances); 
 (e) any covenant, representation or warranty contained in this Agreement with respect to such Account has been breached in any material respect; 

(f) the Customer shall (i) apply for, suffer, or consent to the appointment of, or the taking of possession by, a receiver,
custodian, trustee, administrator or liquidator of itself or of all or a substantial part of its property or call a meeting of its creditors, (ii) admit in writing its inability, or be generally unable, to pay its debts as they become due or
cease operations of its business, (iii) make a general assignment for the benefit of creditors, (iv) commence a voluntary case under any state, federal or other bankruptcy or insolvency laws (as now or hereafter in effect), or enter into
discussions with its creditors existing at any one time with respect to rescheduling any of its Indebtedness, (v) be adjudicated a bankrupt or insolvent, (vi) file a petition seeking to take advantage of any other law providing for the
relief of debtors, (vii) acquiesce to, or fail to have dismissed, any petition which is filed against it in any involuntary case under such bankruptcy or insolvency laws, or (viii) take any action for the purpose of effecting any of the
foregoing or which is indicative of insolvency; 
 (g) the sale is to a Customer located or incorporated (or other analogous
term) outside the United States of America or Canada (but excluding the provinces of Newfoundland, the Northwest Territories, the Yukon Territories and the Territory of Nunavut), unless the sale is on letter of credit, guarantee or acceptance terms,
in each case acceptable to Agent in its Permitted Discretion; 
 (h) the sale to the Customer is on a bill-and-hold, guaranteed
sale, sale-and-return, sale on approval, consignment or any other repurchase, return or contingent or conditional basis or is evidenced by chattel paper; 
 (i) the Customer is the United States of America, Canada, any state, province or any department, agency or instrumentality of any of them, unless (i) such Borrower or Canadian Guarantor assigns its
right to payment of such Account to Agent pursuant to the Assignment of Claims Act of 1940, as amended (31 U.S.C. Sub-Section 3727 et seq. and 41 U.S.C. Sub-Section 15 et seq.) or the Financial Administration Act (Canada) or has otherwise
complied with other similar applicable statutes or ordinances or (ii) such Account is otherwise acceptable to Agent in its sole discretion; except, that, notwithstanding the foregoing, Accounts owing by the United States of
America, Canada, any state, province or any department, agency or instrumentality of any of them shall (so long as such Accounts are otherwise Eligible Accounts hereunder) be considered Eligible Accounts up to an aggregate amount of $50,000 at any
given time; 

  
 12 

 (j) the goods giving rise to such Account have not been shipped and delivered to and
accepted by the Customer or the services giving rise to such Account have not been performed by such Borrower or Canadian Guarantor and accepted by the Customer (such as advanced billings) or the Account otherwise does not represent a final sale;

 (k) the Accounts of the Customer exceed a credit limit determined by Agent, in its Permitted Discretion, to the extent such
Account exceeds such limit; 
 (l) the Account is subject to any offset, deduction, defense, dispute, or counterclaim, the
Customer is also a creditor or supplier of such Borrower or Canadian Guarantor or the Account is contingent in any respect or for any reason (each such offset, deduction, defense, dispute, counterclaim or contingency, a “Contra Claim”);

 (m) such Borrower or Canadian Guarantor has made any agreement with any Customer for any deduction therefrom, except for
discounts or allowances made in the ordinary course of business for prompt payment, all of which discounts or allowances are reflected in the calculation of the face value of each respective invoice related thereto; 

(n) any return, rejection or repossession of the Inventory has occurred the sale of which gave rise to such Account or such Account
relates to a Customer whose obligation to pay is in any respect, conditional or subject to any such right of return, rejection, repossession or similar rights; 
 (o) such Account is not payable to such Borrower or Canadian Guarantor; 
 (p) in
the case of any single Customer and its Affiliates, such Accounts constitute more than fifty (50%) percent of all otherwise Eligible Accounts (but the portion of the Accounts not in excess of such percentage may be deemed Eligible Accounts);
except, that, with respect to (i) Wal-Mart Stores, Inc. and its Affiliates, so long as Wal-Mart Stores, Inc. and its Affiliates are rated at least A- by the Standard & Poor’s Corporation or an equivalent rating by
another nationally recognized rating agency, such Accounts do not constitute more than sixty-five (65%) percent of all otherwise Eligible Accounts (but the portion of the Accounts not in excess of such percentage may be deemed Eligible
Accounts) and (ii) and (ii) Lowes Companies, Inc. and its Affiliates, so long as Lowes Companies, Inc. and its Affiliates are rated at least A- by the Standard & Poor’s Corporation or an equivalent rating by another
nationally recognized rating agency, such Accounts do not constitute more than sixty-five (65%) percent of all otherwise Eligible Accounts (but the portion of the Accounts not in excess of such percentage may be deemed Eligible Accounts);

 (q) such Account consists of progress billings (such that the obligation of the Customer with respect to such Account is
conditioned upon such Borrower’s or Canadian Guarantor’s satisfactory completion of any further performance under the agreement giving rise thereto), bill and hold invoices or retainage invoices, except as to bill and hold invoices, if
Agent shall have received an agreement in writing from the Customer, in form and substance reasonably satisfactory to Agent, confirming the unconditional obligation of the Customer to take the goods related thereto and pay such invoice; 

  
 13 

 (r) the Customer or any officer or employee of the Customer with respect to such Account is
an officer, employee, agent or other Affiliate of any Loan Party or any Subsidiary of any Loan Party; 
 (s) there are
proceedings or actions which are threatened or pending against the Customer with respect to such Account which might result in any Material Adverse Effect under clause (a) of such definition with respect to such Customer; 

(t) the underlying sale and other documentation governing such Account do not provide that such Account must be paid by the Customer in
Dollars or Canadian Dollars; or 
 (u) the underlying sale and other documentation governing such Account are not governed by
the laws of the United States of America or, for Customers located or incorporated (or other analogous term) in Canada, the laws of the United States or Canada. 
 The criteria for Eligible Accounts set forth above may only be changed and any new criteria for Eligible Accounts may only be established by Agent in good faith, based on either: (i) an event,
condition or other circumstance arising after the date hereof, or (ii) an event, condition or other circumstance existing on the date hereof to the extent Agent has no written notice thereof from such Borrower or Canadian Guarantor prior to the
date hereof, in either case under clause (i) or (ii) which adversely affects or could reasonably be expected to adversely affect the Accounts in the good faith determination of Agent. Any Accounts which are not Eligible Accounts shall
nevertheless be part of the Collateral. 
 “Eligible Inventory” shall mean Inventory owned by a Borrower consisting of
finished goods held for resale in the ordinary course of the business of such Borrower, in each case, which Agent, in its Permitted Discretion, shall deem to be Eligible Inventory, based on such considerations as Agent may from time to time deem
appropriate in its Permitted Discretion. Without limiting the foregoing, in no event shall Inventory be Eligible Inventory if such Inventory: 
 (a) is work-in-process or raw materials; 
 (b) is spare parts for equipment;

 (c) is packaging and shipping materials; 
 (d) is supplies used or consumed in such Borrower’s business; 
 (e) is not
located at premises owned and controlled by such Borrower; except, that, Inventory at premises leased and controlled by such Borrower or Inventory at a warehouse owned and operated by a third Person on behalf of such Borrower, in each
case that otherwise satisfies the criteria for Eligible Inventory, may be considered Eligible Inventory if Agent has received and accepted a Collateral Access Agreement from the owner and lessor or operator of such premises, as the case may be, duly
authorized, executed and delivered by such owner and lessor or operator; 
 (f) is not subject to the first priority, valid and
perfected Lien of Agent (other than Permitted Encumbrances; but without limiting the right of Agent to establish any Reserves with respect to Permitted Encumbrances); 

  
 14 

 (g) is not beneficially and legally owned solely by such Borrower; 

(h) is bill and hold goods; 
 (i) is unserviceable, obsolete or slow moving Inventory or Inventory in a poor condition; 
 (j) is damaged and/or defective Inventory; 
 (k) is returned Inventory (other than
undamaged and non-defective Inventory returned in the ordinary course of business that is held for resale in the ordinary course of business); 
 (l) is purchased or sold on consignment; 
 (m) is not subject to an appraisal in
accordance with the requirements of Agent; or 
 (n) is located outside the continental United States of America. 

The criteria for Eligible Inventory set forth above may only be changed and any new criteria for Eligible Inventory may only be established by Agent in
good faith, based on either: (i) an event, condition or other circumstance arising after the date hereof, or (ii) an event, condition or other circumstance existing on the date hereof to the extent Agent has no written notice thereof from
Administrative Borrower prior to the date hereof, in either case under clause (i) or (ii) which adversely affects or could reasonably be expected to adversely affect the Inventory in the good faith determination of Agent. Any Inventory
which is not Eligible Inventory shall nevertheless be part of the Collateral. 
 “Environmental Complaint” shall have
the meaning set forth in Section 4.18(d). 
 “Environmental Laws” shall mean all federal, state, provincial,
local and other environmental, land use, zoning, health, chemical use, safety and sanitation laws, statutes, ordinances and codes relating to the protection of the environment and/or governing the use, storage, treatment, generation, transportation,
processing, handling, production or disposal of Hazardous Substances and the rules, regulations, policies, formal agency, interpretations, decisions, orders and directives of federal, state, local and other Governmental Body with respect thereto.

 “Equipment” shall mean and include as to each Loan Party and each of its Subsidiaries, all of such Loan
Party’s and Subsidiary’s, whether now owned or hereafter acquired and wherever located equipment, machinery, apparatus, motor vehicles, fittings, furniture, furnishings, fixtures, parts, accessories, and all other goods (other than
Inventory) and all replacements and substitutions therefor or accessions thereto. 
 “Equity Interest Option Holders”
shall mean those directors, officers and employees holding options and/or warrants in respect of the Equity Interests of Parent. 
 “Equity Interests” shall mean, with respect to any Person, any and all shares, interests, participations or other equivalents (however designated) of such Person’s capital stock or
partnership, limited liability company or other equity interests at any time outstanding, and any and all rights, warrants or options exchangeable for or convertible into such capital stock or other interests (but excluding any debt security that is
exchangeable for or convertible into such capital stock or other equity interests). 

  
 15 

 “ERISA” shall mean the Employee Retirement Income Security Act of 1974, as amended
from time to time and the rules and regulations promulgated thereunder. 
 “ERISA Affiliate” shall mean, with respect
to any Loan Party, any trade or business (whether or not incorporated) that, together with such Loan Party, are treated as a single employer within the meaning of Sections 414(b), (c), (m) or (o) of the Code. 

“ERISA Event” shall mean, with respect to any Loan Party or any ERISA Affiliate, (a) any event described in
Section 4043(c) of ERISA with respect to a Title IV Plan; (b) the withdrawal of any Loan Party or ERISA Affiliate from a Title IV Plan subject to Section 4063 of ERISA during a plan year in which it was a substantial employer, as
defined in Section 4001(a)(2) of ERISA; (c) the complete or partial withdrawal of any Loan Party or any ERISA Affiliate from any Multiemployer Plan; (d) the filing of a notice of intent to terminate a Title IV Plan or the treatment of
a plan amendment as a termination under Section 4041 of ERISA; (e) the institution of proceedings to terminate a Title IV Plan or Multiemployer Plan by the PBGC; (f) the failure by any Loan Party or ERISA Affiliate to make when due
required contributions to a Multiemployer Plan or Title IV Plan unless such failure is cured within thirty (30) days; (g) the imposition of a lien under Section 412 or 430 of the Code or Section 303 or 4068 of ERISA on any
property (or rights to property, whether real or personal) of any ERISA Affiliate; (h) a Title IV Plan is in “at risk status” within the meaning of Code Section 430(i), (i) a Multiemployer Plan is in “endangered
status” or “critical status” within the meaning of Code Section 432(b); (j) an ERISA Affiliate incurs a substantial cessation of operations within the meaning of ERISA Section 4062(e), with respect to a Title IV Plan;
(k) any other event or condition that might reasonably be expected to constitute grounds under Section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any Title IV Plan or Multiemployer Plan or for the
imposition of liability under Section 4069 or 4212(c) of ERISA; (l) the termination of a Multiemployer Plan under Section 4041A of ERISA or the reorganization or insolvency of a Multiemployer Plan under Section 4241 or 4245 of
ERISA; or (m) the revocation or threatened revocation of a Qualified Plan’s qualification or tax exempt status; or (n) the termination of a Plan described in Section 4064 of ERISA. 

“ESOP” shall mean a Plan that is intended to satisfy the requirements of Section 4975(e)(7) of the Code. 

“Event of Default” shall mean the occurrence of any of the events set forth in Section 10. 

“Excess Availability” shall mean the amount, as determined by Agent in its Permitted Discretion, calculated at any date, equal
to: (a) the lesser of: (i) the Borrowing Base and (ii) the Maximum Credit less Maximum Credit Reserves (in each case under (i) and (ii), without duplication and without giving effect to Reserves in respect of outstanding Letters
of Credit), minus (b) the sum of: (i) the amount of all then outstanding and unpaid Advances plus the amount of all then outstanding Letters of Credit, plus (ii) the aggregate amount of all then outstanding and
unpaid trade payables and other obligations of Loan Parties which are outstanding more than sixty (60) days past due as of the end of the immediately preceding month or at Agent’s option, as of a more recent date based on such reports as
Agent may from time to time specify (other than trade payables or other obligations being contested or disputed by Loan Parties in good faith), plus (iii) without duplication, the amount of checks issued by Loan Parties to pay trade
payables and other obligations which are more than sixty (60) days past due as of the end of the immediately preceding month or at Agent’s option, as of a more recent date based on such reports as Agent may from time to time specify (other
than trade payables or other obligations being contested or disputed by the Borrowers in good faith), but not yet sent. 

  
 16 

 “Exchange Act” shall mean the Securities Exchange Act of 1934, together with all
rules, regulations and interpretations thereunder or related thereto. 
 “Excluded Assets” shall mean: 

(a) any Excluded Equity Interests; 
 (b) each instrument, contract (including each Intellectual Property-related contract and any Accounts and other Receivables arising under such contract), chattel paper, license, permit, General
Intangible, and other agreement that is with, or issued by, a Person that is not a Loan Party or Affiliate of any Loan Party, but only while, and only to the extent that, the grant of a security interest therein pursuant to this Agreement would
result in a default or penalty under, or a breach, violation or termination of, such instrument, contract, chattel paper, license, permit, General Intangible, or other agreement (any such provisions that would result in any of the foregoing being
referred to herein as a “Restriction”; and any such asset or property, or interest thereon, that is at any time subject to a Restriction being referred to herein as a “Restricted Asset”), except, in each case, to the extent that,
pursuant to the Code or other applicable law, the grant of a security interest therein can be made without resulting in a default or penalty thereunder or breach, violation or termination thereof; provided, that, none of the foregoing
assets and properties, or interests therein, shall constitute Excluded Assets if (i) the Restriction applicable thereto has been waived or such other Person has otherwise consented to the creation hereunder of a security interest in such
Restricted Asset, or (ii) such Restriction would be rendered ineffective pursuant to Section 9-406, 9-407, 9-408 or 9-409 of Article 9 of the UCC, as applicable, and as then in effect in any relevant jurisdiction, or any other applicable
law (including the Bankruptcy Code or the PPSA) or principles of equity; provided further, that, (A) immediately upon the ineffectiveness, lapse or termination of any such Restriction with respect to a Restricted Asset (a
“Non-Restricted Asset”), such Loan Party shall be deemed to have automatically, without further act by any Loan Party, Agent, Lenders or any other Person, granted a security interest in, all its rights, title and interests in and to such
Non-Restricted Asset as if such Restriction had never been in effect; and (B) the foregoing exclusion shall in no way be construed so as to limit, impair or otherwise affect Agent’s unconditional continuing security interest in and to all
rights, title and interests of such Loan Party in or to any payment obligations or other rights to receive monies due or to become due under any such Restricted Asset and in any such monies and other proceeds of such Restricted Asset; 

(c) applications for any trademarks that have been filed with the U.S. Patent and Trademark Office on the basis of an
“intent-to-use” with respect to such marks, unless and until a statement of use or amendment to allege use is filed and accepted by the U.S. Patent and Trademark Office or any other filing is made or circumstances otherwise change so that
the interests of a Loan Party in such marks is no longer on an “intent-to-use” basis, at which time such marks shall automatically and without further action by the parties be subject to the security interests and liens granted by a Loan
Party to Agent hereunder; 

  
 17 

 (d) any Restricted Account but only while, and only to the extent that, the grant of a
security interest therein pursuant to this Agreement is prohibited under applicable law; 
 (e) any “consumer goods”
(within the meaning of the PPSA) of Canadian Guarantor; 
 (f) the last day of any term of any lease (whether oral or written)
or any agreement to lease (but Canadian Guarantor will stand possessed of any such revision in trust for the Agent, on behalf of Secured Parties, or as Lenders or Agent on their behalf, may direct, and Canadian Guarantor will assign and dispose
thereof in accordance with such directions); and 
 (g) any property of any Loan Party to the extent that Agent shall determine
in its sole discretion that the costs of obtaining a Lien in such property is excessive in relation to the value of the security to be afforded thereby. 
 “Excluded Equity Interests” shall mean (a) voting Equity Interests issued by a Non-US Subsidiary that is a CFC and a “first-tier” foreign Subsidiary (other than Canadian
Guarantor) representing in excess of sixty-six (66%) percent (or such greater percentage to the extent such greater percentage would not result in a material adverse tax consequence to Loan Parties under Treas. Reg. Section 1.956-2) of the
voting Equity Interests of such Non-US Subsidiary, and (b) the Equity Interests of any Non-US Subsidiary that is not a “first-tier” foreign Subsidiary. 
 “Excluded Tax” shall mean, (a) with respect to any Lender (as defined in Section 3.6) any Tax imposed on (or measured by) such Lender’s gross revenues or net income (however
denominated) and any franchise tax (in each case imposed in lieu of a net income tax) by any jurisdiction (or any political subdivision thereof) under the laws of which the Lender is organized or in which its principal office or its applicable
lending office is located, and any branch profits taxes imposed on the Lender by the United States or any similar tax imposed on the Lender by a jurisdiction in which the Lender is resident for tax purposes, and (b) in the case of a Lender
organized under the laws of a jurisdiction outside the United States (other than an assignee pursuant to a request by any Borrower under Section 16.2(c)), any federal withholding Taxes resulting from any law in effect (including FATCA) on the
date such Lender becomes a party to this Agreement (or designates a new lending office) or is attributable to such Lender’s failure to comply with Section 16.3(f) or Section 16.3(h). 

“Existing Deposit Accounts” shall have the meaning set forth in Section 4.14(h). 

“Existing Deposit Banks” shall mean, collectively, Wells Fargo Bank, N.A., Bank of America, N.A. and Royal Bank of Canada.

 “Extraordinary Receipts” shall mean any cash received by any Loan Party or any of their respective Subsidiaries
consisting of (a) proceeds of judgments, proceeds of settlements or other consideration of any kind in connection with any cause of action, (b) indemnity payments (other than to the extent such indemnity payments are (i) immediately
payable to a Person that is not a Loan Party or any of their respective Subsidiaries, or (ii) received by a Loan Party or any of their respective Subsidiaries as reimbursement for any payment previously made to such Person), (c) any
purchase price adjustment received in connection with any purchase or other acquisition agreement, (d) tax refunds, (e) pension plan reversions, (f) proceeds of insurance (other than such proceeds described in Section 2.13(a))
and (g) at any time that an Event of Default has occurred and is continuing, at the sole discretion of Agent, any other cash received by any Loan Party or any of their respective Subsidiaries not in the ordinary course of business (and not
consisting of proceeds described in Section 2.13(a) of this Agreement). 

  
 18 

 “FATCA” shall mean Sections 1471 through 1474 of the Code and any regulations or
official interpretations thereof (including any Revenue Ruling, Revenue Procedure, Notice or similar guidance issued by the U.S. Internal Revenue Service thereunder as a precondition to relief or exemption from taxes under such provisions).

 “Federal Funds Rate” shall mean, for any day, the rate per annum (rounded upward to the nearest one one-hundredth
of one (1/100th of 1%) 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, 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 quoted to Agent on such day on such
transactions as determined by Agent in a commercially reasonable manner. 
 “Fee Letter” shall mean the Fee Letter,
dated as of the date hereof, by and among the Borrowers and Agent, as amended, restated, modified and supplemented from time to time. 
 “Fixed Charge Coverage Ratio” shall mean, with respect to Loan Parties and their Subsidiaries on a consolidated basis, for any applicable period, the ratio of (a) EBITDA for such period
minus all unfinanced Capital Expenditures (other than Capital Expenditures financed with proceeds of debt, asset Dispositions (other than sales of inventory) and insurance and condemnation proceeds in an amount not to exceed the amount of any such
proceeds) made during such period minus cash taxes paid during such period, to (b) Fixed Charges for such period. 

“Fixed Charges” shall mean, as to Loan Parties and their Subsidiaries determined on a consolidated basis, with respect
to any period, the sum of, without duplication, (a) all Cash Interest Expense during such period, plus (b) all regularly scheduled (as determined at the beginning of the respective period) principal payments of Money Borrowed,
Indebtedness with respect to earn-outs and similar obligations and Indebtedness with respect to Capital Leases, in each case made or required to be made during such period (and without duplicating items in (a) and (b) of this definition,
the interest component with respect to Indebtedness under Capital Leases paid in cash), plus (c) all taxes paid or required to be paid during such period in cash, plus (d) all cash dividends or other cash distributions made
or required to be made on account of Equity Interests (other than those made to a Loan Party) and all repurchases or redemptions of Equity Interests (other than those made to a Loan Party) made or required to be made during such period, plus
(e) all management and similar fees paid in cash to any Affiliate of Loan Parties and their Subsidiaries for such period. 

  
 19 

 “GAAP” shall mean generally accepted accounting principles in the United States of
America in effect from time to time, as may be amended from time to time by the Financial Accounting Standards Board; except, that, if there occurs after the date of this Agreement any change in GAAP that affects in any respect the
calculation of any covenant contained in Section 6.8 hereof, Agent and the Borrowers shall negotiate in good faith amendments to the provisions of this Agreement that relate to the calculation of such covenants with the intent of having the
respective positions of Agent, Lenders and the Borrowers, after such change in GAAP conform as nearly as possible to their respective positions as of the date of this Agreement and, until any such amendments have been agreed upon, the covenants in
Section 6.8 hereof shall be calculated on the basis of such principles in effect prior to such change and consistent with those used in the preparation of the most recent audited financial statements delivered to Agent prior to the date of such
change. 
 “General Intangibles” shall mean and include as to each Loan Party and each of its Subsidiaries, all of
such Loan Party’s and Subsidiary’s general intangibles (as such term is defined in the UCC) and intangibles (as such term is defined in the PPSA), whether now owned or hereafter acquired including, without limitation, all payment
intangibles, choses in action, commercial tort claims, causes of action, corporate or other business records, inventions, designs, patents, patent applications, equipment formulations, manufacturing procedures, quality control procedures,
trademarks, service marks, trade secrets, goodwill, copyrights, design rights, registrations, licenses, franchises, customer lists, tax refunds, tax refund claims, computer programs and computer software, all claims under guaranties, Liens or other
security held by or granted to such Loan Party or Subsidiary to secure payment of any of the Receivables by a Customer, all rights of indemnification and all other intangible property of every kind and nature (other than Receivables). 

“Governmental Body” shall mean any nation or government, any state, province or other political subdivision thereof or any
entity exercising the legislative, judicial, regulatory or administrative functions of or pertaining to a government. 

“Government Receivables” shall have the meaning set forth in Section 6.4. 

“Guarantee” shall mean the guarantee set forth in Section 15 of this Agreement and any other guarantee of the Obligations
of the Borrowers now or hereafter executed by a Guarantor in favor of Agent for its benefit and for the ratable benefit of Lenders. 
 “Guarantor” or “Guarantors” shall have the meaning set forth in the preamble to this Agreement and shall extend to all permitted successors and assigns of such Persons as well as each
other Subsidiary of Parent and the Borrowers that becomes a guarantor of any of the Obligations after the Closing Date pursuant to Section 7.12(a) or otherwise. 
 “Hazardous Discharge” shall have the meaning set forth in Section 4.18(d). 
 “Hazardous Substance” shall mean, without limitation, any flammable explosives, radon, radioactive materials, asbestos, urea formaldehyde foam insulation, polychlorinated biphenyls, petroleum
and petroleum products, methane, hazardous materials, Hazardous Wastes, hazardous or Toxic Substances or related materials as defined in CERCLA, the Hazardous Substances Transportation Act, as amended (49 U.S.C. Sections 1801, et seq.), RCRA,
Articles 15 and 27 of the New York State Environmental Conservation Law or any other applicable Environmental Law and in the regulations adopted pursuant thereto. 

  
 20 

 “Hazardous Wastes” shall mean all waste materials subject to regulation under
CERCLA, RCRA or applicable state or other law, and any other applicable federal, state, provincial or other laws now in force or hereafter enacted relating to hazardous waste disposal. 

“Hedging Agreements” shall mean an agreement between any Loan Party and any financial institution that is a rate swap
agreement, basis swap, forward rate agreement, commodity swap, interest rate option, forward foreign exchange agreement, spot foreign exchange agreement, rate cap agreement rate, floor agreement, rate collar agreement, currency swap agreement,
cross-currency rate swap agreement, currency option, any other similar agreement (including any option to enter into any of the foregoing or a master agreement for any of the foregoing together with all supplements thereto) for the purpose of
protecting against fluctuations in or managing exposure with respect to interest or exchange rates, currency valuations or commodity prices. 
 “Impacted Lender” shall mean any Lender that (a) is an Impaired Lender or (b) fails to promptly provide Agent, upon Agent’s written request, reasonably satisfactory assurance that
such Lender is not, and will not become, a Defaulting Lender or an Impaired Lender. 
 “Impaired Lender” shall mean
any Lender (a) that has given verbal or written notice (and so long as such notice has not been retracted in writing) to any Borrower, the Agent or any other Lender or has otherwise publicly announced (and such announcement has not been
retracted in writing) that such Lender believes it will fail to fund all payments required to be made by it or fund all purchases of participations required to be funded by it under this Agreement and the Other Documents, (b) as to which the
Agent has (and for so long as Agent continues to have) a good faith belief that such Lender has defaulted in fulfilling its obligations (as a lender, agent or letter of credit issuer) under one or more other syndicated credit facilities or
(c) with respect to which one or more Lender-Related Distress Events has occurred and are continuing with respect to such Person or any Person that directly or indirectly controls such Lender and Agent has determined that such Lender may become
a Defaulting Lender. For purposes of this definition, control of a Person shall have the same meaning as provided in the definition of Affiliate. 
 “Indebtedness” of a Person at a particular date shall mean (a) all indebtedness for Money Borrowed of such Person whether direct or guaranteed; (b) that portion of obligations with
respect to Capital Leases that is properly classified as a liability on a balance sheet in conformity with GAAP consistently applied; (c) notes payable and drafts accepted representing extensions of credit; (d) any obligation owed for all
or any part of the deferred purchase price of property or services if the purchase price is due more than six (6) months from the date the obligation is incurred or is evidenced by a note or similar written instrument (including, without
limitation, the maximum potential amount of all earn-outs and similar deferred payment obligations regardless of the length of deferral); (e) all indebtedness secured by any Lien on any property or asset owned or held by that Person regardless
of whether the indebtedness secured thereby shall have been assumed by that Person or is non-recourse to the credit of that Person; (f) any contractual obligation, contingent or otherwise, of such Person to pay or be liable for the payment of
any indebtedness described in this definition of another Person, including, without limitation, any such indebtedness, directly or indirectly guaranteed, or any agreement to purchase, repurchase, or otherwise acquire such indebtedness, obligation or
liability or any security therefor, or to provide funds for the payment or discharge thereof, or to maintain solvency, assets, level of income, or other financial condition; (g) all obligations evidenced by bonds, debentures, notes or similar
instruments; (h) all reimbursement obligations and other liabilities of such Person with respect to surety bonds (whether bid, performance or otherwise), letters of credit, banker’s acceptances, drafts or similar documents or instruments
issued for such Person’s account; (i) all obligations, liabilities and indebtedness of such Person (marked to market) arising under Hedging Agreements; and (j) the principal and interest portions of all rental obligations of such
Person under any synthetic lease or similar off-balance sheet financing where such transaction is considered to be borrowed money for tax purposes but is classified as an operating lease in accordance with GAAP consistently applied, in each case
whether such liabilities are present or future, actual or contingent and whether owned jointly or severally. 

  
 21 

 “Intellectual Property” shall mean all trade secrets and other proprietary
information; trademarks, service marks, business names, Internet domain names, designs, logos, trade dress, slogans, indicia and other source and/or business identifiers, and the goodwill of the business relating thereto and all registrations or
applications for registrations which have heretofore been or may hereafter be issued thereon throughout the world; copyrights (including copyrights for computer programs and software) and copyright registrations or applications for registrations
which have heretofore been or may hereafter be issued throughout the world and all tangible property embodying the copyrights; unpatented inventions (whether or not patentable); patent applications and patents; industrial designs, industrial design
applications and registered industrial designs; license agreements related to any of the foregoing and income therefrom; books, records, writings, computer tapes or disks, flow diagrams, specification sheets, source codes, object codes and other
physical manifestations, embodiments or incorporations of any of the foregoing; the right to sue for all infringements of any of the foregoing; and all common law and other rights throughout the world in and to all of the foregoing. 

“Interest Expense” shall mean, for any period, as to any Person, as determined in accordance with GAAP consistently applied,
the total interest expense of such Person, whether paid or accrued during such period but without duplication (including the interest component of Capital Leases for such period). 

“Interest Period” shall mean the period provided for any LIBOR Rate Loan pursuant to Section 2.2(b). 

“Interest Rate” shall mean the Revolving Interest Rate. 

“Inventory” shall mean and include as to each Loan Party and each Subsidiary of each Loan Party, all of such Loan Party’s
and Subsidiary’s now owned or hereafter acquired inventory (as such term is defined in the UCC), goods, merchandise and other personal property, wherever located, to be furnished under any contract of service or held for sale or lease, all raw
materials, work in process, finished goods and materials and supplies of any kind, nature or description which are or might be used or consumed in such Loan Party’s or Subsidiary’s business or used in selling or furnishing such goods,
merchandise and other personal property, all other inventory of such Loan Party or Subsidiary, and all documents of title or other documents representing them. 
 “Inventory Loan Limit” shall mean an amount equal to the lesser of (a) thirty-five (35%) percent multiplied by the Maximum Credit and (b) thirty-five (35%) percent multiplied
by the then current Borrowing Base (calculated without regard to the Availability Block). 

  
 22 

 “Investment Property” shall mean any “investment property” as such term
is defined in Section 9-102 of the UCC now owned or hereafter acquired by any Loan Party or any of its Subsidiaries, wherever located, including (a) all securities, whether certificated or uncertificated, including stocks, bonds, interests
in limited liability companies, partnership interests, treasuries, certificates of deposit, and mutual fund shares; (b) all securities entitlements of any Loan Party or Subsidiary, including the rights of any Loan Party or Subsidiary to any
securities account and the financial assets held by a securities intermediary in such securities account and any free credit balance or other money owing by any securities intermediary with respect to that account; (c) all securities accounts
of any Loan Party or Subsidiary; (d) all commodity contracts of any Loan Party or Subsidiary; and (e) all commodity accounts held by any Loan Party or Subsidiary. 
 “IRS” shall mean the United States Internal Revenue Service. 

“Issuer” shall mean any Person who issues a Letter of Credit and/or accepts a draft pursuant to the terms thereof (it being
agreed that so long as TD Bank shall be Agent, then the Issuer shall be (a) TD Bank or any of its Affiliates, and/or (b) such other Person selected by Agent in its Permitted Discretion and in consultation with Administrative Borrower;
provided, however, that, in the event that TD Bank is neither Agent nor a Lender, the “Issuer” with respect to all subsequently issued Letters of Credit shall be a Person selected by the Borrowers and acceptable to the
Required Lenders, the Agent and such Person). 
 “Judgment Currency” shall have the meaning set forth in
Section 16.5. 
 “Lender” and “Lenders” shall have the meaning ascribed to such term in the preamble to
this Agreement and shall include each Person which becomes a transferee, successor or assign of any Lender. 
 “Lender
Default” shall have the meaning set forth in Section 2.15(a). 
 “Lender-Related Distress Event” shall mean,
with respect to any Lender or any Person that directly or indirectly controls such Lender (each a “Distressed Person”), a voluntary or involuntary case with respect to such Distressed Person under the Bankruptcy Code or any similar
bankruptcy or insolvency laws of its jurisdiction of formation, or a custodian, conservator, receiver or similar official is appointed for such Distressed Person or any substantial party of such Distressed Person’s assets, or such Distressed
Person or any Person that directly or indirectly controls such Distressed Person is subject to a forced liquidation, merger, sale or other change of control supported in whole or in party by guaranties or other support (including, without
limitation, the nationalization or assumption of ownership or operating control by) the U.S. government or other Governmental Body, or such Distressed Person makes a general assignment for the benefit of creditors or is otherwise adjudicated as, or
determined by any Governmental Body having regulatory authority over such Distressed Person or its assets to be, insolvent, bankrupt, or deficient in meeting any capital adequacy or liquidity standard of any such Governmental Body. For purposes of
this definition, control of a Person shall have the same meaning as provided in the definition of Affiliate. 
 “Letter of
Credit Application” shall have the meaning set forth in Section 2.9(a). 
 “Letter of Credit Fees” shall
have the meaning set forth in Section 3.2(a). 

  
 23 

 “Letters of Credit” shall have the meaning set forth in Section 2.8.

 “LIBOR” shall mean, for any Interest Period with respect to a LIBOR Loan, a per annum rate of
interest (rounded upward, if necessary, to the nearest one-eighth of one (1/8th of 1%) percent), determined by Agent at approximately 11:00 a.m. (London time) two Business Days before commencement of such Interest Period, for a term comparable to such Interest Period, equal to
(a) the British Bankers Association LIBOR Rate (“BBA LIBOR”), as published by Reuters (or other commercially available source designated by Administrative Agent) or (b) if BBA LIBOR is not available for any reason, the average
interest rate (as quoted to Agent by three major banks in the London interbank Eurodollar market selected by Agent) at which Dollar deposits in the approximate amount of the LIBOR Rate Loan would be offered to Agent. If the Board of Governors
imposes a Statutory Reserve with respect to LIBOR deposits and the applicable rate is determined by reference to the foregoing clauses (a) or (b), then LIBOR shall be (x) the foregoing rate, divided by (y) the sum of one
(1) minus the Statutory Reserve. 
 “LIBOR Rate Loan” shall mean an Advance that bears interest based on LIBOR.

 “Lien” shall mean any mortgage, deed of trust, pledge, hypothecation, assignment, security interest, lien (whether
statutory or otherwise), charge, claim or encumbrance, or preference, priority or other security agreement or preferential arrangement held or asserted in respect of any asset of any kind or nature whatsoever including, without limitation, any
conditional sale or other title retention agreement, any lease having substantially the same economic effect as any of the foregoing, and the filing of, or agreement to give, any financing statement under the UCC, PPSA or comparable law of any
jurisdiction. Any reference to the Lien of Agent shall be construed in the broadest sense possible and shall in each case include a security interest and other Lien as the context implies. 

“Loan Party” shall mean, individually, each Borrower and each Guarantor, and “Loan Parties” shall mean, collectively,
the Borrowers and the Guarantors. 
 “Material Adverse Effect” shall mean a material adverse effect on (a) the
financial condition, operations, assets or business of any Borrower on an individual basis and/or Loan Parties and their Subsidiaries taken as a whole, (b) any Loan Party’s ability to pay the Obligations or to comply with this Agreement or
any Other Document in accordance with the terms hereof or thereof, (c) the value of the Collateral, or Agent’s Liens on the Collateral or the priority of any such Lien or (d) Agent’s ability to realize on the Collateral or
otherwise enforce the terms of this Agreement or any of the Other Documents. 
 “Material Contracts” shall have the
meaning set forth in Section 5.21. 
 “Maximum Credit” shall mean $20,000,000 (subject to adjustment as provided
pursuant to the terms of Section 2.19). 
 “Maximum Credit Increase Effective Date” shall have the meaning set
forth in Section 2.19(c). 
 “Maximum Credit Reserves” shall mean Reserves to the extent that such Reserves are
in respect of amounts that may be payable to third parties and for which Agent elects from time to time in its Permitted Discretion to institute such Reserves against the Maximum Credit in addition to instituting such Reserves against the Borrowing
Base. 

  
 24 

 “Maximum Swingline Loan Advance Amount” shall mean $5,000,000. 

“Money Borrowed” shall mean (a) Indebtedness for borrowed money arising from the lending of money by any Person to any
Loan Party or any of their respective Subsidiaries, (b) Indebtedness, whether or not in any such case arising from the lending by any Person of money to any Loan Party or any of their respective Subsidiaries, (i) which is represented by
notes payable or drafts accepted that evidence extensions of credit, (ii) which constitutes obligations evidenced by bonds, debentures, notes or similar instruments, or (iii) upon which interest charges are customarily paid (other than
accounts payable) or that was issued or assumed as full or partial payment for property, (c) reimbursement obligations with respect to letters of credit or guaranties of letters of credit, and (d) Indebtedness of any Loan Party or any of
their respective Subsidiaries under any guarantee of obligations that would constitute Indebtedness for Money Borrowed under clauses (a), (b) or (c) hereof, if owed directly by any Loan Party or any of their respective Subsidiaries.

 “Multiemployer Plan” shall mean a “multiemployer plan” as defined in Sections 3(37) and 4001(a)(3) of
ERISA. 
 “Net Income” shall mean, for any period, the aggregate income (or loss) of Loan Parties and their
Subsidiaries for such period, all computed and calculated in accordance with GAAP consistently applied on a consolidated basis. 

“Net Liquidation Percentage” shall mean the percentage of the book value of Eligible Inventory that is estimated to be
recoverable in an orderly liquidation of such Eligible Inventory, net of all associated costs and expenses of such liquidation, such percentage to be as determined from time to time by the most recent appraisal received by Agent, which appraisal
shall (a) be reasonably satisfactory to Agent, (b) prepared by an appraisal company reasonably acceptable to Agent and (c) expressly provide that Agent is permitted to rely thereon. 

“Non-Restricted Asset” shall have the meaning as set forth in the definition of Excluded Assets. 

“Non-US Loan Party” shall mean a Loan Party other than a US Loan Party. 

“Non-US Subsidiary” shall mean any Subsidiary other than a US Subsidiary. 

“Note” or “Notes” shall mean, individually or collectively, the Revolving Credit Notes and the Swingline Loan Note.

 “Notice of Conversion” shall mean a notice duly executed by a Responsible Officer of Administrative Borrower
appropriately completed and in substantially the form of Exhibit B. 

  
 25 

 “Obligations” shall mean and include (a) any and all of each Loan
Party’s Indebtedness and/or liabilities pursuant to or evidenced by this Agreement or any Other Documents to Agent, Lenders or any Issuer of every kind, nature and description, direct or indirect, secured or unsecured, joint, several, joint and
several, absolute or contingent, due or to become due, now existing or hereafter arising, contractual or tortious, liquidated or unliquidated, regardless of how such indebtedness or liabilities arise (including all interest accruing after the
commencement of any bankruptcy or similar proceeding whether or not enforceable in such proceeding) and all obligations of any Loan Party to Agent, Lenders or any Issuer to perform acts or refrain from taking any action under this Agreement or any
Other Documents, and (b) Bank Product Obligations solely for purposes of (x) Section 4.1 (and other Lien grants made by Loan Parties in the Other Documents to secure any and all of the Obligations) and (y) defining “Senior
Indebtedness,” “First Lien Indebtedness” or words of similar meaning in any subordination agreement or intercreditor agreement, in each case subject to the priority in right of payment set forth in Section 11.2; provided,
that, as to any such Bank Product Obligations, the same shall only be included within the Obligations if (i) the applicable Bank Product Provider, other than TD Bank and its Affiliates, and the applicable Loan Party shall have delivered
prompt written notice to Agent that (A) such Bank Product Provider has entered into a transaction to provide Bank Products to such Loan Party, (B) the maximum dollar amount of Obligations arising thereunder to be included as a Reserve (the
“Bank Product Amount”), together with the methodology used by such parties in determining the Bank Product Amount, subject in all events, however, to Agent’s right, in its Permitted Discretion, to establish such Reserve as Agent shall
at any time determine is appropriate to reflect the reasonably anticipated liabilities and obligations of Loan Parties with respect to such Bank Product then provided or outstanding, and (C) the express agreement of such Bank Product Provider
and such Borrower or such other Loan Party that the Bank Product Obligations arising pursuant to such Bank Products provided to such Borrower or such other Loan Party constitute Obligations entitled to the benefits of the Liens of Agent granted
hereunder, and Agent shall have accepted such notice in writing, (ii) in no event shall any Bank Product Provider acting in such capacity to whom such Bank Product Obligations are owing be deemed a Lender for purposes hereof except with respect
to the Lien granted in favor of Agent, for itself and on behalf of each Secured Party, and in no event shall the approval of any such Person in its capacity as Bank Product Provider be required in connection with the release or termination of any
security interest or other Lien of Agent or with respect to any other matter governed by this Agreement or any Other Document, and (iii) Agent may terminate this Agreement and the Other Documents, along with any Liens granted under this
Agreement and the Other Documents, without any notice to or consent by any Bank Product Provider, in its capacity as such, regardless of whether or not any Bank Product Obligations are outstanding. The Bank Product Amount may be changed from time to
time upon written notice to Agent by a Bank Product Provider and any Loan Party owing Bank Product Obligations to such Bank Product Provider. No Bank Product Amount may be established or increased at any time that a Default or Event of Default
exists, or if a Reserve in such amount would cause Borrowing Availability to be less than zero (0). 
 “OFAC” shall
mean the U.S. Department of the Treasury’s Office of Foreign Assets Control. 
 “Operating Account” or
“Operating Accounts” shall mean, individually or collectively, the operating accounts established and maintained by Loan Parties and which are designated as such and listed on Schedule 5.23. 

“Original Term” shall have the meaning set forth in Section 13.1. 

  
 26 

 “Other Documents” shall mean any Note, the Questionnaire, any Guarantee, any
Collateral Access Agreement, the Term Loan Intercreditor Agreement and any and all other agreements, instruments and documents, including, without limitation, guaranties, pledges, security agreements, mortgages, deeds of trust, debentures, control
agreements, other collateral documents, subordination agreements, intercreditor agreements, powers of attorney, consents, and all other writings heretofore, now or hereafter executed and/or delivered by any Loan Party to Agent or any Lender in
respect of the transactions contemplated by this Agreement, in each case, as such agreements, instruments and documents are amended, restated, modified or supplemented from time to time. 

“Parent” shall have the meaning set forth in the preamble to this Agreement and shall include its successors and assigns.

 “Participant” shall mean each Person who shall be granted the right by any Lender to participate in any of the
Advances or Commitments of such Lender and who shall have entered into a participation agreement in form and substance reasonably satisfactory to such Lender. 
 “Payment Account” shall mean Agent’s account set forth on Schedule 2.3 or such other account of Agent, if any, which Agent may designate by notice to Administrative Borrower and to each
Lender to be the Payment Account. 
 “Payment in Full” or “Paid in Full” shall mean (a) all Commitments
have been terminated or expired and (b) all of the Obligations have been paid in full in cash (or with respect to this clause (b), (i) in the case of outstanding Letters of Credit, Borrowers have furnished to Agent either, (A) the
original Letter of Credit from the beneficiary thereof for immediate and complete termination or (B) as selected by Agent, either (1) cash collateral in an amount not less than one hundred and five (105%) percent of the aggregate
undrawn amount of all Letters of Credit (pursuant to cash collateral arrangements to be in form and substance reasonably satisfactory to Agent) or (2) back-up letters of credit in form and substance reasonably satisfactory to Agent, and from an
issuer reasonably acceptable to Agent, in an amount not less than one hundred and five (105%) percent of the aggregate undrawn amount of all Letters of Credit and (ii) in the case of any other contingent Obligations (including, without
limitation, Bank Product Obligations, except to the extent not required by Agent), each Loan Party shall have furnished Agent and Lenders with cash collateral from a Person, and pursuant to terms and conditions, which are satisfactory to Agent in
all respects, or indemnification from a Person consistent with the terms and provisions set forth herein. 
 “PBGC”
shall mean the Pension Benefit Guaranty Corporation. 
 “Permitted Acquisition” shall mean the purchase by a Borrower
or wholly-owned US Subsidiary of Borrower that is a Loan Party after the date hereof of all or substantially all of the assets or property or all of the Equity Interests of any Person or any business unit or division of such Person (such assets or
Person being referred to herein as the “Target”), subject to the satisfaction of each of the following conditions: 

(a) Agent shall receive at least thirty (30) days’ prior written notice of such proposed Permitted Acquisition, which notice
shall include a reasonably detailed description of such proposed Permitted Acquisition; 
 (b) the Target’s assets shall
only comprise a business of the type engaged in by Loan Parties as of the date hereof or ancillary businesses reasonably related to the business engaged in by Loan Parties as of the date hereof, and which business would not subject Agent or any
Lender to regulatory or third party approvals in connection with the exercise of its rights and remedies under this Agreement or any Other Documents other than approvals applicable to the exercise of such rights and remedies with respect to Loan
Parties prior to such proposed Permitted Acquisition; 

  
 27 

 (c) the total cash and non-cash consideration paid by Loan Parties and their Subsidiaries
(including, without limitation, assumption or incurrence of all Indebtedness (including without limitation earn-outs and deferred purchase price obligations) for (i) all Permitted Acquisitions shall not exceed $10,000,000 in the aggregate
during the Term or (ii) any Permitted Acquisition shall not exceed $3,000,000; 
 (d) subject to the limitation in clause
(c) immediately above and all of the other terms and conditions of this Agreement, Borrowers may use proceeds of Revolving Advances in an aggregate amount not to exceed (i) $3,000,000 in the aggregate during the Term to fund the
consideration paid by Loan Parties in all Permitted Acquisitions or (ii) $1,000,000 to fund the consideration paid by Loan Parties in any single Permitted Acquisition; provided, that, at the time of any such proposed usage of
Revolving Advances and after giving effect thereto, Excess Availability (i) for the thirty (30) consecutive day period immediately prior to the date of the consummation of such proposed Permitted Acquisition is not less than $7,500,000 and
(ii) is not less than $7,500,000 on the date of and after giving effect to any such proposed Permitted Acquisition; 
 (e)
Loan Parties and their Subsidiaries (including the Target), on a consolidated basis, shall have a Fixed Charge Coverage Ratio (calculated as provided in Section 6.8) of 1.1:1.0 on the date of and on a pro forma basis for the trailing twelve
(12) month period after giving effect to such proposed Permitted Acquisition; 
 (f) Target must have had a positive EBITDA
on a cumulative basis for the immediately preceding four (4) fiscal quarters and no more than one (1) fiscal quarter during such four fiscal quarter period may have a negative EBITDA; 

(g) at or prior to the closing of such proposed Permitted Acquisition, Agent, for the ratable benefit of each Secured Party, will be
granted a first priority perfected security interest and lien (subject to Permitted Encumbrances) in all assets and Equity Interests (other than Excluded Assets) acquired in connection therewith and each Person acquired in connection therewith shall
have joined this Agreement as a Guarantor and each Loan Party and each Person acquired in connection therewith shall have executed (or caused to be executed) such documents and taken such actions as may be required by Agent in its Permitted
Discretion in connection therewith; 
 (h) such proposed Permitted Acquisition shall not be hostile and, prior to its closing,
shall have been approved by the board of directors (or other similar body) and/or the stockholders or other equity holders of the Target; 
 (i) such proposed Permitted Acquisition shall only involve assets located in the United States; 
 (j) all material consents necessary for such proposed Permitted Acquisition (including such consents as the Agent deems reasonably necessary) have been acquired and such proposed Permitted Acquisition is
consummated in accordance with the applicable acquisition documents and applicable law; 

  
 28 

 (k) each of the representations and warranties made by any Loan Party in or pursuant to this
Agreement and any Other Document to which it is a party, and each of the representations and warranties contained in any certificate, document or financial or other statement furnished at any time under or in connection with this Agreement or any
Other Document shall be true and correct in all material respects (without duplication of any materiality qualifiers already set forth therein) on and as of such date such proposed Permitted Acquisition is consummated both before and after giving
effect thereto as if made on and as of such date, except to the extent that such representations and warranties expressly relate solely to an earlier date (in which case such representations and warranties shall have been true and correct in all
material respects (without duplication of any materiality qualifiers already set forth therein) on and as of such earlier date); 

(l) Administrative Borrower shall have delivered to Agent, in form and substance reasonably satisfactory to Agent: 

(A) a pro forma consolidated balance sheet, income statement and cash flow statement of Parent and its Subsidiaries
(the “Acquisition Pro Forma”), based on recent financial statements, which shall be complete and shall fairly present in all material respects the assets, liabilities, financial condition and results of operations of Parent and its
Subsidiaries in accordance with GAAP consistently applied, but taking into account such proposed Permitted Acquisition and the funding of all Advances in connection therewith, and such Acquisition Pro Forma shall reflect that (x) Excess
Availability criteria set forth above has been satisfied, and (y) on a pro forma basis, no Default or Event of Default has occurred and is continuing or would result after giving effect to such proposed Permitted Acquisition and Borrowers would
have been in compliance with the financial covenants set forth in Section 6.8 for the four (4) quarter period reflected in the Compliance Certificate most recently delivered to Agent pursuant to Section 9.7 prior to the consummation
of such proposed Permitted Acquisition (after giving effect to such proposed Permitted Acquisition and all Advances funded in connection therewith as if made on the first (1st) day of such period); 
 (B) updated versions of the most recently delivered projections delivered pursuant to Section 5.5(b) covering the one (1) year period commencing on the date of such proposed Permitted
Acquisition and otherwise prepared in accordance with such projections (the “Acquisition Projections”) and based upon historical financial data of a recent date reasonably satisfactory to Agent, taking into account such proposed Permitted
Acquisition; and 
 (C) a certificate of the chief financial officer of Administrative Borrower to the effect that:
(w) each Loan Party (after taking into consideration all rights of contribution and indemnity such Loan Party has against each other Loan Party) will be Solvent upon the consummation of such proposed Permitted Acquisition; (x) the
Acquisition Pro Forma fairly presents the financial condition of Loan Parties and their Subsidiaries (on a consolidated and consolidating basis) as of the date thereof after giving effect to such proposed Permitted Acquisition; (y) the
Acquisition Projections are reasonable estimates of the future financial performance of Loan Parties and their Subsidiaries subsequent to the date thereof based upon the historical performance of Loan Parties, their Subsidiaries and the Target and
show that Loan Parties and their Subsidiaries shall continue to be in compliance with the financial covenants set forth in Section 6.8 for the remainder of the Term; and (z) Loan Parties have completed their due diligence investigation
with respect to the Target and such proposed Permitted Acquisition, which investigation was conducted in a manner similar to that which would have been conducted by a prudent purchaser of a comparable business and the results of which investigation
were delivered to Agent and Lenders; 

  
 29 

 (m) on or prior to the date of such proposed Permitted Acquisition, Agent shall have
received, in form and substance reasonably satisfactory to Agent, copies of the acquisition agreement (which shall allow collateral assignments of Loan Parties rights thereunder in favor of the Agent and the Lenders) or merger agreement, as
applicable, and all related agreements and instruments, and all opinions, certificates, lien search results and other documents reasonably requested by Agent; and 
 (n) concurrently with consummation of such proposed Permitted Acquisition, Administrative Borrower Representative shall have delivered to Agent a certificate stating that the foregoing conditions have
been satisfied. 
 Notwithstanding anything to the contrary contained in this definition, if Administrative Borrower requests that any assets
acquired pursuant to any Permitted Acquisition be included in the Borrowing Base, Agent shall initiate, within thirty (30) days of such request, an appraisal, field examination or collateral audit (as the case may be) with respect to the
business and assets of the Target in accordance with Agent’s customary procedures and practices and as otherwise required by the nature and circumstances of the business of the Target, the scope and results of which shall be reasonably
satisfactory to Agent, and which shall have been completed, before such assets may be included in the Borrowing Base. Any Accounts or Inventory of the Target shall only be Eligible Accounts or Eligible Inventory to the extent that (i) Agent has
so completed such appraisal, field examination or collateral audit (as the case may be) with respect thereto and (ii) the criteria for Eligible Accounts or Eligible Inventory (as applicable) set forth herein are satisfied with respect thereto
in accordance with this Agreement. 
 “Permitted Discretion” shall mean a determination made by the Agent in the
exercise of reasonable (from the perspective of an asset-based secured lender) business judgment. 
 “Permitted
Encumbrances” shall mean: 
 (a) Liens in favor of Agent for the benefit of each Secured Party, which, in each case, secure
Obligations; 
 (b) Liens for taxes, assessments or other governmental charges (“Tax Lien”) not delinquent or being
contested in good faith and by appropriate proceedings by the applicable Loan Party or Subsidiary of a Loan Party and with respect to which proper reserves have been taken by Loan Parties and the Subsidiaries; provided, that, the Tax
Lien shall have no effect on the priority of the Liens in favor of Agent or the value of the Collateral in which Agent has such a Lien (taking into account any such reserves taken by Loan Parties) and a stay of enforcement of any such Tax Lien shall
be in effect; 
 (c) deposits or pledges to secure obligations under worker’s compensation, social security or similar
laws, or under unemployment insurance, in each case made in the ordinary course of business and excluding deposits, liens or pledges under ERISA; 

  
 30 

 (d) deposits or pledges of cash to secure bids, tenders, contracts (other than contracts for
the payment of money), leases, statutory obligations, surety and appeal bonds and other obligations of like nature arising in the ordinary course of the applicable Loan Party’s or Subsidiary’s business; 

(e) mechanics’, workers’, materialmen’s, carriers’, warehousemen’s, landlords or other like Liens arising in the
ordinary course of the applicable Loan Party’s or Subsidiary’s business with respect to obligations which are (i) not due or (ii) being contested in good faith and by appropriate proceedings by the applicable Loan Party or
Subsidiary of a Loan Party and with respect to which proper reserves have been taken by Loan Parties and the Subsidiaries; provided, that, the such Lien shall have no effect on the priority of the Liens in favor of Agent or the value
of the Collateral in which Agent has such a Lien and a stay of enforcement of any such Lien shall be in effect; 
 (f) Liens
placed upon fixed assets and intellectual property related to such fixed assets hereafter acquired by any Loan Party or any Subsidiary to secure a portion of the purchase price thereof; provided, that, (i) any such Lien shall not
encumber any other property of Loan Parties or their Subsidiaries and (ii) the aggregate amount secured by such Liens shall not exceed the applicable amount provided for in Section 7.8(b); 

(g) Liens in existence on the date hereof that are disclosed on Schedule 7.2; 

(h) Liens on amounts not exceeding $100,000 in the aggregate deposited as security for surety or appeal bonds in connection with
obtaining such bonds in the ordinary course of business; 
 (i) with respect to any Real Property, Liens consisting of
easements, rights of way and zoning restrictions that do not materially interfere with or impair the use or operation thereof; 

(j) Liens on Depository Accounts granted or arising in the ordinary course of business in favor of depositary banks maintaining such
Depository Accounts solely to the extent they secure customary account fees and charges payable in respect of such Depository Accounts; 
 (k) non-consensual statutory Liens (other than Liens securing the payment of taxes or ERISA matters) arising in the ordinary course of a Loan Party or Subsidiary’s business; provided,
that, such Liens do not secure Indebtedness or any other amounts in excess of $100,000 in the aggregate which are past due; 
 (l) Liens arising from (i) operating leases with respect to assets which are not owned by any Loan Party or any Subsidiary and the precautionary UCC and PPSA financing statement filings in respect
thereof and (ii) equipment or other materials which are not owned by any Loan Party or Subsidiary located on the premises of such Loan Party or Subsidiary (but not in connection with, or as part of, the financing thereof) from time to time in
the ordinary course of business and consistent with current practices of Loan Parties and their Subsidiaries and the precautionary UCC and PPSA financing statement filings in respect thereof; 

(m) judgments and other similar Liens arising in connection with court proceedings that do not constitute an Event of Default;

 (n) Liens of a collection bank arising under Section 4-210 of the UCC on items in the course of collection; 

  
 31 

 (o) Liens in favor of customs and revenue authorities arising as a matter of law to secure
custom duties which are not past due in connection with the importation of goods by Loan Parties or their Subsidiaries in the ordinary course of business; 
 (p) Liens on specific fixed assets and intellectual property related to such fixed assets (as opposed to any blanket lien on any asset type) acquired pursuant to a Permitted Acquisition in existence at
the time such assets are acquired pursuant to such Permitted Acquisition and not created in contemplation thereof; provided, that, such Liens do not encumber any Accounts, Inventory or other assets included in the Borrowing Base, and
such Liens do not attach to any assets other than the assets acquired pursuant to such Permitted Acquisition; 
 (q) receipt of
deposits and advances from customers in the ordinary course of business which may create an interest in the Inventory to be sold to such customers, but which do not constitute contractual Liens granted by a Loan Party or any Subsidiary; 

(r) Liens securing Indebtedness of any Loan Party under the Term Loan Documents, subject in all respect to the Term Loan Intercreditor
Agreement; 
 (s) Liens of any counterparty to a Hedging Agreement to secure the Indebtedness permitted under
Section 7.8(e); and 
 (t) Liens on amounts not exceeding $100,000 in the aggregate deposited as security for corporate
credit card programs maintained in the ordinary course of business. 
 “Person” shall mean any individual, sole
proprietorship, partnership, corporation, company, business trust, joint stock company, trust, unincorporated organization, association, limited liability company, institution, public benefit corporation, joint venture, entity or government (whether
federal, state, provincial, county, city, municipal or otherwise, including any instrumentality, division, agency, body or department thereof). 
 “Plan” shall mean any employee benefit plan within the meaning of Section 3(3) of ERISA, maintained for employees of Loan Parties or any member of the Controlled Group or any such Plan to
which any Loan Party or any member of the Controlled Group is required to contribute on behalf of any of its employees. 

“PPSA” shall mean the Personal Property Security Act (British Columbia) or any other like applicable federal or provincial
statute pertaining to the granting, perfecting, priority or ranking of security interests, liens, hypothecs on personal property, and any successor statutes, together with any regulations thereunder, in each case as in effect from time to time.
References to sections of the PPSA shall be construed to also refer to any successor sections. 
 “Prior
Defaulting/Impacted Lender” shall mean, as of any date, a Lender that is not then a Defaulting Lender or an Impacted Lender but was a Defaulting Lender or an Impacted Lender at any time during the past 365 days. 

  
 32 

 “Priority Payables” shall mean, as to Canadian Guarantor at any time, (a) the
full amount of the liabilities of such Borrower or Guarantor at such time which (i) have a trust imposed to provide for payment or a security interest, pledge, lien, hypothec or charge ranking or capable of ranking senior to or pari passu with
security interests, liens, hypothecs or charges securing the Obligations under Federal, Provincial, Territorial, county, district, municipal, or local law in Canada or (ii) have a right imposed to provide for payment ranking or capable of
ranking senior to or pari passu with the Obligations under local or national law, regulation or directive, including, but not limited to, claims for unremitted and/or accelerated rents, taxes, wages, withholding taxes (including claims for debts due
to Canada Revenue Agency), VAT and other amounts payable to an insolvency administrator, employee withholdings or deductions, severance pay, termination pay and vacation pay, workers’ compensation obligations, government royalties or pension
fund obligations or contributions, in each case to the extent such trust, or security interest, lien or charge has been or may be imposed and (b) the amount equal to the percentage applicable to Inventory in the calculation of the Borrowing
Base multiplied by the aggregate Value of the Eligible Inventory which Agent, in good faith, considers is or may be subject to retention of title by a supplier or a right of a supplier to recover possession thereof, where such supplier’s right
has priority over the security interests, liens or charges securing the Obligations, including, without limitation, Eligible Inventory subject to a right of a supplier to repossess goods pursuant to Section 81.1 of the BIA or any applicable
laws granting revendication or similar rights to unpaid suppliers or any similar laws of Canada or any other applicable jurisdiction (provided, that, to the extent such Inventory has been identified and has been excluded from Eligible Inventory, the
amount owing to the supplier shall not be considered a Priority Payable). 
 “Prime Rate” shall mean the
“Prime Rate” of interest as published in the “Money Rates” section of The Wall Street Journal on the applicable date (or the highest “Prime Rate” if more than one is published) as such rate may
change from time to time. 
 “Pro Forma Balance Sheet” shall have the meaning set forth in Section 5.5(a).

 “Protective Advances” shall have the meaning set forth in Section 2.11. 

“Purchasing Lender” shall have the meaning set forth in Section 16.3(c). 

“Qualified Assignee” shall mean (a) any Lender (other than a Defaulting Lender, an Impacted Lender or a Prior
Defaulting/Impacted Lender), any Controlled Affiliate of any Lender (other than a Defaulting Lender, an Impacted Lender or a Prior Defaulting/Impacted Lender) and any Approved Fund (other than with respect to a Defaulting Lender, an Impacted Lender
or a Prior Defaulting/Impacted Lender); and (b) any other Person consented to by (i) Agent, which consent of Agent shall not be unreasonably withheld, conditioned or delayed, and (ii) so long as no Event of Default has occurred and is
continuing and such assignment is not being made in connection with an assignment, sale or transfer of a portfolio of loans by the assigning, selling or transferring Lender, by Administrative Borrower, which consent of Administrative Borrower shall
not be unreasonably withheld, conditioned or delayed (except, that, Administrative Borrower, for itself and on behalf of Borrowers, shall be deemed to have consented to any such assignment unless Administrative Borrower shall have
objected thereto by written notice to Agent within five (5) Business Days after having received notice thereof); provided, that, (A) neither any Loan Party nor any Affiliate of any Loan Party shall qualify as a Qualified
Assignee unless consented to by Agent in its sole discretion, (B) no Person (or Affiliate of such Person) proposed to become a Lender after the Closing Date that holds any (x) Indebtedness that is contractually subordinated to any or all
of the Obligations, (y) secured Indebtedness that is subject to any contractual Lien subordination to the Liens securing any or all of the Obligations or (z) Equity Interests issued by any Loan Party shall be a Qualified Assignee unless
consented to by Agent in its sole discretion, and (C) no Person proposed to become a Lender after the Closing Date and determined by Agent to be acting in the capacity of a vulture fund or distressed debt purchaser shall be a Qualified Assignee
unless consented to by Agent in its sole discretion. 

  
 33 

 “Qualified Plan” shall mean a Plan that is intended to be tax qualified under
Section 401(a) of the Code. 
 “Quarterly Average Excess Availability” shall mean, for any calendar quarter, the
daily average of the Excess Availability for the immediately preceding calendar quarter, as calculated by Agent in accordance with this Agreement. For the purposes of calculating Quarterly Average Excess Availability only, the Borrowing Base shall
be calculated without regard to the Availability Block. 
 “Questionnaire” shall mean each of the Information
Certificates, each dated as of the date hereof, executed by each Loan Party in favor of the Agent. 
 “RCRA” shall
mean the Resource Conservation and Recovery Act, 42 U.S.C. §§ 6901 et seq., as same may be amended from time to time. 

“Real Property” shall mean all of each Loan Party and each of their Subsidiary’s right, title and interest in and to its
owned and leased premises. 
 “Receivables” shall mean and include, as to each Loan Party and each Subsidiary of each
Loan Party, all of such Loan Party’s and Subsidiary’s Accounts, Contract Rights, instruments (including promissory notes and instruments evidencing indebtedness owed to Loan Parties and their Subsidiaries by their Affiliates), documents,
chattel paper (whether tangible or electronic), general intangibles relating to Accounts, drafts and acceptances, and all other forms of obligations owing to such Loan Party and Subsidiary arising out of or in connection with the sale, lease or
other disposition of Inventory or the rendition of services, all guarantees and other security therefor, whether secured or unsecured, now existing or hereafter created, and whether or not specifically sold or assigned to Agent hereunder.

 “Related Agreements” shall mean the Term Loan Documents. 

“Related Transactions” shall mean the transactions contemplated by the Related Agreements. 

“Release” shall have the meaning set forth in Section 5.7(c). 

“Reportable Event” shall mean a reportable event described in Section 4043(b) of ERISA or the regulations promulgated
thereunder. 
 “Reporting Trigger Event” shall mean either (a) an Event of Default shall
exist or have occurred and be continuing or (b) Excess Availability is less than $5,000,000 for any period of three (3) consecutive Business Days; provided, that, any such Reporting Trigger Event resulting solely from this
clause (b) shall cease to exist to the extent that Excess Availability is greater than or equal to $5,000,000 for sixty (60) consecutive days during any applicable period after the occurrence of such Reporting Trigger Event and no other
Reporting Trigger Event then exists as of such sixtieth
(60th) day. 

  
 34 

 “Required Lenders” shall mean (a) if there are three (3) or more
Lenders, at least two (2) or more Lenders having Commitment Percentages, the aggregate amount of which exceeds fifty (50%) percent, and (b) if there are either one (1) or two (2) Lenders, all Lenders. 

“Reserves” shall mean such reserves as Agent may from time to time establish in its Permitted Discretion, including, without
limitation, reserves for (a) matters that could adversely affect the Collateral, its value or the amount that Agent and the Lenders might receive from the sale or other disposition thereof or the ability of Agent to realize thereon,
(b) sums that Loan Parties or any of their Subsidiaries are required to pay under any provision of this Agreement or any Other Document or otherwise (such as taxes, assessments, payroll, insurance premiums, amounts owing to customs brokers, or,
in the case of leased assets, rents or other amounts payable under such leases or, in the case of license agreements, royalties or other amounts payable under such license agreements), (c) amounts owing by any Loan Party or any Subsidiary to
any Person to the extent secured by a Lien on, or trust over, any of the Collateral or over any assets or properties of any Customer of any Loan Party or any Subsidiary (such as Liens or trusts in favor of landlords, warehousemen, carriers,
mechanics, materialmen, laborers, or suppliers, or Liens or trusts for ad valorem, income, payroll, excise, sales, pension plan obligations or other taxes), including without limitation any Permitted Encumbrance, (d) amounts believed by the
Agent to be necessary to provide for possible inaccuracies, in any report or in any information provided to the Agent pursuant to this Agreement, (e) dilution with respect to Accounts of the Borrowers (based on the ratio of the aggregate amount
of non-cash reductions in Accounts of the Borrowers for any period to the aggregate dollar amount of sales of the Borrowers for such period) calculated by Agent for any period that is or is reasonably anticipated to be greater than five
(5%) percent, (f) Bank Product Obligations to the extent that such Bank Product Obligations constitute Obligations as such term is defined herein or otherwise receive the benefit of the security interest of Agent in any Collateral, and
(g) Priority Payables and any obligations of Canadian Guarantor subject to superpriority liens under the BIA and the Wage Earner Protection Program Act (Canada). The amount of any Reserve established by Agent shall have a reasonable
relationship to the event, condition or other matter which is the basis for such Reserve as determined by Agent in its Permitted Discretion. 
 “Responsible Officer” shall mean with respect to any Person, such Person’s chief executive officer, president, chief operating officer, chief financial officer or other officer having
substantially the same authority and responsibility with respect to the matters at hand (or having substantially the same knowledge of the contents of the certificate, document or other document being delivered). 

“Restricted Accounts” shall mean deposit accounts or other accounts (a) established and used (and at all times will be
used) solely for the purpose of paying current payroll obligations of Loan Parties (and which do not (and will not at any time) contain any deposits other than those necessary to fund current payroll), in each case in the ordinary course of
business, (b) maintained (and at all times will be maintained) solely in connection with an employee benefit plan, but solely to the extent that all funds on deposit therein are solely held for the benefit of, and owned by, employees (and will
continue to be so held and owned) pursuant to such plan, and (c) used in the ordinary course of business for petty cash, the balance of which shall not exceed $25,000 in the aggregate at any time; provided, that, without limiting
the foregoing, in order for any such deposit account or other account to constitute a “Restricted Account”, such deposit or other account must be expressly designated as a “Restricted Account” on Schedule 5.23 (as
such schedule may from time to time be updated in accordance with Section 5.23), which designation shall constitute a representation and warranty by each Loan Party that such deposit account or other account satisfies the criteria set forth in
this definition to constitute a “Restricted Account”. 

  
 35 

 “Restricted Asset” shall have the meaning as set forth in the definition of
Excluded Assets. 
 “Restriction” shall have the meaning as set forth in the definition of Excluded Assets.

 “Revolver Commitment” shall mean, with respect to each Lender, its Revolver Commitment, and, with respect to all
Lenders, their Revolver Commitments, and without duplication, the commitment of each Lender to purchase a participation in the Swingline Loan Advances pursuant to Section 2.4, in each case, in the aggregate amounts set forth beside such
Lender’s name under the applicable heading on Schedule C-1 or in the Commitment Transfer Supplement pursuant to which such Lender became a Lender hereunder, as such amounts may be reduced or increased from time to time pursuant to
assignments made in accordance with the provisions of this Agreement. 
 “Revolving Advances” shall mean Advances made
pursuant to Section 2.1 (and shall also include Protective Advances and Swingline Loan Advances to the extent the context implies such). 
 “Revolving Credit Note” shall have the meaning set forth in Section 2.1(a). 
 “Revolving Interest Rate” shall mean an interest rate per annum equal to (a) the sum of the Base Rate plus the Applicable Margin per annum with respect to Base Rate Loans that are
Revolving Advances and (b) the sum of LIBOR plus the Applicable Margin per annum with respect to LIBOR Rate Loans that are Revolving Advances. 
 “Sanctioned Entity” shall mean (a) an agency of the government of, (b) an organization directly or indirectly controlled by, or (c) a person resident in, a country that is subject
to a sanctions program identified on the list maintained and published by OFAC and available at http://www.treas.gov/offices/enforcement/ofac/programs, or as otherwise published from time to time as such program may be applicable to such
agency, organization or person. 
 “Sanctioned Person” shall mean a person named on the list of Specially Designated
Nationals or Blocked Persons maintained by OFAC available at http://www.treas.gov/offices/enforcement/ofac/sdn/index.html or as otherwise published from time to time. 
 “Secured Party” shall mean Agent, the Lenders, Issuer and Bank Products Provider; sometimes hereinafter collectively referred to as “Secured Parties”. 

“Settlement Date” shall mean the Closing Date and thereafter every Business Day designated by Agent as a “Settlement
Date” by notice from Agent to each Lender, but not less frequently than weekly. 
 “Solvent” shall mean, at any
time with respect to any Person, that at such time such Person (a) is able to pay its debts as they mature and has (and has a reasonable basis to believe it will continue to have) sufficient capital (and not unreasonably small capital) to carry
on its business consistent with its practices as of the date hereof, and (b) the assets and properties of such Person at a fair valuation (and including as assets for this purpose at a fair valuation all rights of subrogation, contribution or
indemnification arising pursuant to any guarantees given by such Person) are greater than the Indebtedness of such Person, and including subordinated and contingent liabilities computed at the amount which, such Person has a reasonable basis to
believe, represents an amount which can reasonably be expected to become an actual or matured liability (and including as to contingent liabilities arising pursuant to any guarantee the face amount of such liability as reduced to reflect the
probability of it becoming a matured liability). 

  
 36 

 “Statutory Reserves” shall mean for any Interest Period for any LIBOR Rate Loan,
the average maximum rate at which reserves (including any marginal, supplemental or emergency reserves) are required to be maintained during such Interest Period under Regulation D by member banks of the United States Federal Reserve System in New
York City with deposits exceeding one billion Dollars against “Eurocurrency liabilities” (as such term is used in Regulation D). LIBOR Rate Loans shall be deemed to constitute Eurodollar liabilities and to be subject to such reserve
requirements without benefit of or credit for proration, exceptions or offsets which may be available from time to time to any Lender under Regulation D. 
 “Subordinated Debt” shall mean the subordinated Indebtedness described in Section 7.8 (i). 
 “Subsidiary” shall mean, with respect to any Person, a corporation, partnership, limited liability company or other entity of which such Person owns, directly or indirectly, such number of
outstanding shares or other equity interests as to have more than 50% of the ordinary voting power for the election of directors or other managers of such corporation, partnership, limited liability company or other entity. Unless the context
otherwise requires, each reference to Subsidiaries herein shall be a reference to Subsidiaries of Borrowers. 
 “Swingline
Lender” shall TD Bank or any other Lender that, at the request of Borrowers and with the consent of Agent, agrees, in such Lender’s sole discretion, to become the Swingline Lender under Section 2.4. 

“Swingline Loan Advances” shall mean each Revolving Advance converted by Agent to a Swingline Loan Advance pursuant to
Section 2.1(c). 
 “Swingline Loan Commitment” shall mean, with respect to TD Bank, its Swingline Commitment as
set forth besides its name under the applicable heading on Schedule C-1. 
 “Swingline Loan Interest Rate”
shall mean an interest rate per annum equal to the Revolver Interest Rate applicable to Base Rate Loans that are Revolver Advances. 
 “Swingline Loan Note” shall have the meaning set forth in Section 2.1(c). 
 “Syndication Agent” shall mean TD Bank, in its capacity as syndication agent. 
 “Target” shall have the meaning as set forth in the definition of Permitted Acquisition. 
 “Tax” or “Taxes” shall mean any tax, fee, premium, charge, duty, escheat or other amount imposed by a Governmental Body and any interest, penalty, or addition to tax imposed with
respect thereto or any applicable law, treaty, regulation or directive. 

  
 37 

 “Tax Lien” shall have the meaning as set forth in the definition of Permitted
Encumbrances. 
 “TD Bank” shall have the meaning set forth in the preamble to this Agreement and shall include its
successors and assigns. 
 “Term” shall mean the period commencing on the Closing Date and ending on the Termination
Date. 
 “Term Loan Agent” shall mean ComVest Capital II, L.P., a Delaware limited partnership, and its successors and
assigns. 
 “Term Loan Credit Agreement” shall mean that certain Credit and Security Agreement, dated as of the date
hereof, by and among the Term Loan Agent, the lenders from time to time party thereto, the Borrowers, and the other Loan Guarantors party thereto. 
 “Term Loan Documents” shall mean the “Other Documents” as defined in the Term Loan Credit Agreement. 
 “Term Loan Intercreditor Agreement” shall mean that certain Intercreditor Agreement, dated as of the date hereof, by and between Agent and the Term Loan Agent, and acknowledged and agreed to by
Loan Parties. 
 “Term Loan Priority Collateral” shall mean the “Term Loan Priority Collateral”, as such
term is defined in the Term Loan Intercreditor Agreement. 
 “Termination Date” shall have the meaning set forth in
Section 13.1. 
 “Termination Event” shall mean (a) a Reportable Event with respect to any Plan or
Multiemployer Plan; (b) the withdrawal of any Loan Party or any of their Subsidiaries or any member of the Controlled Group from a Plan or Multiemployer Plan during a plan year in which such entity was a “substantial employer” as
defined in Section 4001(a)(2) of ERISA; (c) the providing of notice of intent to terminate a Plan in a distress termination described in Section 4041(c) of ERISA; (d) the institution by the PBGC of proceedings to terminate a Plan
or Multiemployer Plan; (e) any event or condition (i) which might constitute grounds under Section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any Plan or Multiemployer Plan, or (ii) that
may result in termination of a Multiemployer Plan pursuant to Section 4041A of ERISA; or (f) the partial or complete withdrawal within the meaning of Sections 4203 and 4205 of ERISA, of any Loan Party, any Subsidiary thereof or any member
of the Controlled Group from a Multiemployer Plan. 
 “Title IV Plan” shall mean a Plan (other than a Multiemployer
Plan), that is covered by Title IV of ERISA, and that any Loan Party or ERISA Affiliate maintains, contributes to or has an obligation to contribute to on behalf of participants who are or were employed by any of them. 

“Toxic Substance” shall mean and include any material present on the Real Property or the leasehold interests which has been
shown to have significant adverse effect on human health or which is subject to regulation under the Toxic Substances Control Act (TSCA), 15 U.S.C. §§ 2601 et seq., or any other applicable federal, state, provincial or other laws now in
force or hereafter enacted relating to toxic substances. “Toxic Substance” includes but is not limited to asbestos, polychlorinated biphenyls (PCBs) and lead-based paints. 

  
 38 

 “Transferee” shall have the meaning set forth in Section 16.3(b). 

“UCC” shall mean the Uniform Commercial Code as in effect in the State of New York from time to time; provided,
that, when used with respect to Canadian Guarantor or when the context so requires, the term “UCC” shall mean the PPSA. 
 “Unfunded Pension Liability” shall mean, at any time, the aggregate amount, if any, of the sum of (a) the amount by which the present value of all accrued benefits under each Title IV Plan
exceeds the fair market value of all assets of such Title IV Plan allocable to such benefits in accordance with Title IV of ERISA, all determined as of the most recent valuation date for each such Title IV Plan using the actuarial assumptions for
funding purposes in effect under such Title IV Plan, and (b) for a period of five (5) years following a transaction which might reasonably be expected to be covered by Section 4069 of ERISA, the liabilities (whether or not accrued)
that could be avoided by any Loan Party or any ERISA Affiliate as a result of such transaction. 
 “US Loan Party”
shall mean a Loan Party organized, incorporated or otherwise formed under the laws of the United States or any state thereof or the District of Columbia. 
 “US Subsidiary” shall mean a Subsidiary organized, incorporated or otherwise formed under the laws of the United States or any state thereof or the District of Columbia. 

“Value” shall mean, as determined by Agent in its Permitted Discretion, with respect to Inventory, the lower of (a) cost
computed on a first-in first-out basis in accordance with GAAP consistently applied or (b) market value; provided, that, for purposes of the calculation of the Borrowing Base, (i) the Value of the Inventory shall not include:
(A) the portion of the value of Inventory equal to the profit earned by any Affiliate on the sale thereof to any Borrower or (B) write-ups or write-downs in value with respect to currency exchange rates and (ii) notwithstanding
anything to the contrary contained herein, the cost of the Inventory shall be computed in the same manner and consistent with the most recent appraisal of the Inventory received and accepted by Agent for the purposes of this Agreement (which
appraisal must be performed by an appraisal company selected by Agent using assumptions and appraisal methods acceptable to Agent, pursuant to an appraisal report acceptable to Agent on which Agent is expressly permitted to rely). 

“Voting Equity Interests” shall mean with respect to any Person, (a) one (1) or more classes of Equity Inerests of
such Person having general voting powers to elect at least a majority of the board of directors, managers or trustees of such Person, irrespective of whether at the time Equity Interests of any other class or classes have or might have voting power
by reason of the happening of any contingency, and (b) any Equity Interests of such Person convertible or exchangeable without restriction at the option of the holder thereof into Equity Interests of such Person described in clause (a) of
this definition. 
 “Waterfall Event” shall mean the occurrence of (a) failure by Borrowers to repay all of the
Obligations as of the end of the Term or after the Obligations have been accelerated, or (b) an Event of Default and the election by the Agent or the Required Lenders to require that payments and proceeds of Collateral be applied pursuant to
Section 11.2(b). 

  
 39 

 “Week” shall mean the time period commencing with the opening of business on a
Monday and ending on the end of business the following Sunday. 
 1.3 Uniform Commercial Code Terms. 

All terms used herein and defined in the UCC or, solely with respect to Canadian Guarantor, in the PPSA, including, the terms accessions,
account debtor, certificated security, chattel paper, commercial tort claim, deposit account, document, electronic chattel paper, equipment, financial asset, fixtures, goods, health-care-insurance receivable, inventory, instrument, investment
property, letter-of-credit rights, payment intangibles, proceeds, securities accounts, security, security entitlement, software, supporting obligations and uncertificated security, shall have the meaning given therein unless otherwise defined herein
or unless the context provides otherwise. 
 1.4 Certain Matters of Construction. 

The terms “herein”, “hereof” and “hereunder” and other words of similar import refer to this Agreement as a
whole and not to any particular section, paragraph or subdivision. Each reference to a Section, an Exhibit or a Schedule shall be deemed to refer to a Section, an Exhibit or a Schedule, as applicable, of this Agreement unless otherwise specified.
The terms “including” and other words of similar import refer to “including, but not limited” unless otherwise specified. Any pronoun used shall be deemed to cover all genders. Wherever appropriate in the context, terms used
herein in the singular also include the plural and vice versa. All references to statutes (including the UCC and the PPSA) and related regulations shall include any amendments of same and any successor statutes and regulations. Unless otherwise
provided, all references to any instruments or agreements, including, without limitation, references to this Agreement or any of the Other Documents, shall include any and all modifications or amendments thereto and any and all extensions or
renewals thereof to the extent not prohibited by this Agreement or any Other Document. The amount outstanding under any Letter of Credit shall mean, at any date of determination, (a) the maximum aggregate amount available for drawing thereunder
under any and all circumstances, plus (b) the aggregate amount of all unreimbursed payments and disbursements under such Letter of Credit. Unless otherwise provided Dollar ($) baskets set forth in the representations and warranty,
covenants and event of default provisions of this Agreement (and other similar baskets) are calculated as of each date of measurement by the Dollar Equivalents thereof as of such date of measurement. 

2. ADVANCES, PAYMENTS. 

2.1 Revolving Advances. 
 (a) Revolving Advances. Subject to the terms and conditions set forth in this Agreement (including, without limitation, Sections 2.1(b) and 8), each Lender, severally and not jointly, agrees to
make Revolving Advances according to its Commitment Percentage thereof to the Borrowers (or Administrative Borrower on behalf of the Borrowers) from the Closing Date until the Termination Date. Revolving Advances shall be funded by Agent or Lenders
(as applicable) in Dollars and shall be repaid in Dollars. To the extent required by a Lender, the Revolving Advances made by such Lender shall be evidenced by a promissory note in a form acceptable to Agent (each, a “Revolving Credit
Note”; it being understood that no such promissory note shall include a grant of a Lien in favor of any individual Lender). 

  
 40 

 (b) Revolving Advance Limitations/Protective Advances and Overadvances. The aggregate
amount of the Revolving Advances (including, without limitation, Swingline Loan Advances) and the Letters of Credit outstanding at any time shall not (i) exceed the Maximum Credit less the Maximum Credit Reserves or (ii) except as provided
in Section 2.11 with respect to Protective Advances and in Section 16.2(e) with respect to overadvances, cause Excess Availability to be less than $0. 
 (c) Swingline Loan Advances. Agent may convert any request by the Borrowers for a Revolving Advance into a request for a Swingline Loan Advance from the Swingline Lender. The Swingline Loan Advance
shall bear interest at the Swingline Loan Interest Rate and shall not exceed in the aggregate at any time outstanding the Maximum Swingline Loan Advance Amount. To the extent required by the Swingline Lender, the Swingline Loan Advances made by the
Swingline Lender shall be evidenced by a promissory note in a form acceptable to Agent and the Swingline Lender (each, a “Swingline Loan Note”). Upon the making of a Swingline Loan Advance (whether before or after the occurrence of a
Default or Event of Default), without further action by any party hereto, each Lender shall be deemed to have irrevocably and unconditionally purchased and received from the Swingline Lender or Agent, without recourse or warranty, an undivided
interest and participation to the extent of such Lender’s Commitment Percentage in such Swingline Loan Advance. To the extent that there is no settlement in accordance with Section 2.12(c) below, the Swingline Lender or Agent, as the case
may be, may at any time, require the Lenders to fund their participations. From and after the date, if any, on which any Lender is required to fund its participation in any Swingline Loan Advance, Agent shall promptly distribute to such Lender, such
Lender’s Commitment Percentage of all payments of principal and interest received by Agent in respect of such Swingline Loan Advance. 
 2.2 Procedure for Borrowing. 
 (a) Administrative
Borrower shall notify Agent of the request by any applicable Borrower(s) to incur a Revolving Advance hereunder. Such notice shall be in the form of the Notice of Advance Request attached hereto as Exhibit C and shall be required to be delivered by
Administrative Borrower to Agent on or prior to 11:00 a.m. (New York time) (i) on the Business Day of the date of such requested borrowing with respect to Base Rate Loans and (ii) three (3) Business Days prior to the date of such
requested borrowing with respect to LIBOR Rate Loans. Each such notice shall include (A) an indication of which Borrower is requesting such Revolving Advance, (B) the amount of such proposed borrowing (which amount with respect to
(1) LIBOR Rate Loans shall be in a minimum amount of $500,000 and in integral multiples of $100,000 in excess thereof and (2) with respect to Base Rate Loans shall be in a minimum amount of $10,000), (C) the date of such proposed
borrowing (which must be a Business Day) and (D) whether such borrowing is to be initially a LIBOR Rate Loan (and if so, the duration of the first (1st) Interest Period therefor) or a Base Rate Loan. Additionally, any amount required to be paid as interest, fees,
charges or other Obligations under this Agreement or any Other Document, at the election of Agent, shall be deemed a request by Borrowers for a Revolving Advance as of the date such payment is due, in the amount required to pay in full or in part
such interest, fee, charge or other Obligation under this Agreement or any Other Document and such deemed request shall be irrevocable. 

  
 41 

 (b) Interest Periods for LIBOR Rate Loans shall be for one (1), two (2) or
three (3) months. At the election of Agent or Required Lenders, no LIBOR Rate Loan shall be made available to the Borrowers during the continuance of a Default or an Event of Default. After giving effect to each LIBOR Rate Loan (or any
conversion to a LIBOR Rate Loan), there shall not be outstanding more than six (6) LIBOR Rate Loans in the aggregate. 

(c) Each Interest Period of a LIBOR Rate Loan shall commence on the date such LIBOR Rate Loan is made and shall end on such date as
Administrative Borrower may elect as set forth in clause (D) of Section 2.2(a); provided, that, the exact length of each Interest Period shall be determined in accordance with the practice of the interbank market for offshore
Dollar deposits and no Interest Period shall end after the Termination Date. 
 (d) Administrative Borrower shall elect the
initial Interest Period applicable to a LIBOR Rate Loan by its notice of borrowing given to Agent pursuant to Section 2.2(a) or by its Notice of Conversion given to Agent pursuant to Section 2.2(e), as the case may be. Administrative
Borrower shall elect the duration of each succeeding Interest Period by giving irrevocable written notice to Agent of such duration not less than three (3) Business Days prior to the last day of the then current Interest Period applicable to
such LIBOR Rate Loan; provided, that, at the election of Agent or Required Lenders, no loan shall be converted to a LIBOR Rate Loan if an Event of Default shall have occurred and be continuing. If Agent does not receive timely notice
of the Interest Period elected by Administrative Borrower, Administrative Borrower shall be deemed to have elected to convert to a Base Rate Loan subject to Section 2.2(e). 

(e) Administrative Borrower may, on the last Business Day of the then current Interest Period applicable to any
outstanding LIBOR Rate Loan, or on any Business Day with respect to Base Rate Loans, convert any such loan into a loan of another type in the same aggregate principal amount; provided, that, any conversion of a LIBOR Rate Loan shall be
made only on the last Business Day of the then current Interest Period applicable to such LIBOR Rate Loan; provided further, that, at the election of Agent or Required Lenders, no loan shall be converted to a LIBOR Rate Loan if
an Event of Default shall have occurred and be continuing. If the Borrowers desire to convert a Base Rate Loan to a LIBOR Rate Loan or convert a LIBOR Rate Loan to a Base Rate Loan, Administrative Borrower shall give Agent a Notice of Conversion not
less than three (3) Business Days’ prior to such conversion, specifying the date of such conversion, the loans to be converted and if the conversion is from a Base Rate Loan to a LIBOR Rate Loan, the duration of the first (1st) Interest Period therefor. After giving effect to each such
conversion, there shall not be outstanding more than the number of LIBOR Rate Loans permitted by Section 2.2(b). 
 (f) At
the option of the Borrowers and upon three (3) Business Days’ prior written notice, the Borrowers may prepay the LIBOR Rate Loans in whole at any time or in part from time to time, without premium or penalty (except as otherwise expressly
provided in this Agreement), but with accrued interest on the principal being prepaid to the date of such repayment. Administrative Borrower shall specify the date of prepayment of Advances which are LIBOR Rate Loans and the amount of such
prepayment. In the event that any prepayment of a LIBOR Rate Loan is required or permitted on a date other than the last Business Day of the then current Interest Period with respect thereto, the Borrowers and each other Loan Party shall indemnify
Agent and Lenders therefor in accordance with Section 2.2(g). 

  
 42 

 (g) Each Loan Party shall indemnify Agent and Lenders and hold Agent and Lenders harmless
from and against any and all losses or expenses that Agent and Lenders may sustain or incur as a consequence of any prepayment, conversion of or any default by the Borrowers in the payment of the principal of or interest on any LIBOR Rate Loan or
failure by the Borrowers to complete a borrowing of, a prepayment of or conversion of or to a LIBOR Rate Loan after notice thereof has been given, including, but not limited to, Agent’s and Lenders’ standard charges with respect to the
foregoing and any interest payable by Agent or Lenders to lenders of funds obtained by any of them in order to make or maintain their respective LIBOR Rate Loans hereunder. A certificate as to any additional amounts payable pursuant to the foregoing
sentence submitted by Agent (or the applicable Lenders) to Administrative Borrower and Agent shall be conclusive absent manifest error; provided, that, no such certificate shall be required in the case of Agent’s and Lenders’
standard charges with respect to the events indemnified in this Section 2.2(g)). 
 (h) Notwithstanding any other provision
hereof, if any applicable law, treaty, regulation or directive, or any change therein or in the interpretation or application thereof, shall after the Closing Date make it unlawful for any Lender (for purposes of this Section 2.2(h), the term
“Lender” shall include any Lender and the office or branch where any Lender or any corporation or bank controlling such Lender makes or maintains any LIBOR Rate Loans) to make or maintain its LIBOR Rate Loans, such Lender shall notify the
Agent and Administrative Borrower, and upon such notification, the obligation of such Lender to make such LIBOR Rate Loans hereunder shall forthwith be cancelled and the Borrowers shall, if any affected LIBOR Rate Loans are then outstanding,
promptly upon notice from Agent, either pay all such affected LIBOR Rate Loans or convert such affected LIBOR Rate Loans into Base Rate Loans (and following such notification any request for LIBOR Rate Loans from such Lender shall be deemed to be a
request for Base Rate Loans). If any such payment or conversion of any LIBOR Rate Loan is made on a day that is not the last day of the Interest Period applicable to such LIBOR Rate Loan, the Borrowers shall pay Agent, upon Agent’s notice, such
amount or amounts as may be necessary to compensate such Lender for any loss or expense sustained or incurred by such Lender in respect of such LIBOR Rate Loan as a result of such payment or conversion, including (but not limited to) any interest or
other amounts payable by such Lender to lenders of funds obtained by such Lender in order to make or maintain such LIBOR Rate Loan. A certificate as to any additional amounts payable pursuant to the foregoing sentence submitted by Agent (or the
applicable Lenders) to Administrative Borrower and Agent shall be conclusive absent manifest error. 
 2.3 Disbursement of
Advance Proceeds. 
 All Advances shall be disbursed from whichever office or other place Agent or Lenders, as applicable,
may designate from time to time. During the Term, the Borrowers may request, repay and reborrow Revolving Advances, all in accordance with the terms and conditions of this Agreement. The proceeds of each Revolving Advance requested by the Borrowers
(or Administrative Borrower on behalf of the Borrowers) or deemed to have been requested by the Borrowers (or Administrative Borrower on behalf of the Borrowers) under Section 2.2(a) shall, subject to the terms and conditions of this Agreement
with respect to requested Revolving Advances, be made available to the Borrowers on the Business Day so requested by way of credit to the Borrowers’ operating account (no. 4266772958) maintained at TD Bank (or such other operating account
designated by Administrative Borrower in writing to Agent) in immediately available federal funds or other immediately available funds or, with respect to Revolving Advances deemed to have been requested by the Borrowers (or Administrative Borrower
on behalf of the Borrowers), be disbursed to Agent to be applied to the outstanding Obligations giving rise to such deemed request. 

  
 43 

 2.4 [Reserved.] 

2.5 Repayment of Advances. 
 (a) The Revolving Advances shall be due and payable in full on the Termination Date subject to earlier prepayment as herein provided. 

(b) The Borrowers recognize that the amounts evidenced by checks, notes, drafts or any other items of payment relating to and/or proceeds
of Collateral may not be collectible by Agent on the date received. In consideration of Agent’s consideration (subject to the last sentence of this clause (b)) to conditionally credit the Borrowers’ Account as of the Business Day on which
Agent receives those items of payment, the Borrowers agree that, in computing the charges under this Agreement, all items of payment shall be deemed applied by Agent on account of the applicable Obligations on the date of confirmation to Agent by
the Blocked Account bank or Depository Account bank, as provided for in Section 4.14(h), that such items of payment have been collected in good funds and finally credited to Agent’s account. Without limiting the above provisions of this
clause (b), Agent is not, however, required to credit the Borrowers’ Account for the amount of any item of payment which is unsatisfactory to Agent and Agent may charge the Borrowers’ Account for the amount of any item of payment which is
returned to Agent unpaid. 
 (c) All payments (including prepayments) of principal, interest and other amounts payable hereunder
and under each Other Document shall be made to Agent at the Payment Account not later than 2:00 p.m. (New York time) on the due date therefor (or, if such due date is not a Business Day, on the next Business Day) in lawful money of the United States
of America in funds immediately available to Agent. Any payment received by Agent subsequent to 2:00 p.m. (New York time) on any Business Day (regardless of whether such payment is due on such Business Day) shall be deemed received by Agent, and
shall be applied to the applicable Obligations intended to be paid thereby, on the next Business Day. Agent shall have the right to effectuate payment on any and all Obligations due and owing hereunder by charging the Borrowers’ Account or by
making Revolving Advances as provided in Section 2.2. 
 (d) The Borrowers shall pay principal, interest, and all other
amounts payable hereunder and under each Other Document without any deduction whatsoever, including, but not limited to, any deduction for any setoff or counterclaim. 
 (e) If, notwithstanding the terms of this Agreement or any Other Document, Agent or any Lender receives any payment from or on behalf of any Borrower or any other Loan Party in a currency other than the
Currency Due (including, without limitation, payments in respect of any Account in the lawful currency of Canada), Agent or such Lender may convert the payment (including the monetary proceeds of realization upon any Collateral and any funds then
held in a cash collateral account) into the Currency Due at exchange rate selected by Agent or such lender in the manner contemplated by Section 16.5 and Borrowers shall reimburse Agent and Lenders on demand for all costs they incur with
respect thereto. To the extent permitted by law, the obligation shall be satisfied only to the extent of the amount actually received by Agent upon such conversion. 

  
 44 

 2.6 Repayment of Excess Advances. 

If for any reason Excess Availability at any time is less than $0 or the balance of any or all of the outstanding Advances and Letters of
Credit at any time is otherwise in excess of any applicable limitation set forth in this Agreement (subject to Section 16.2(d) with respect to overadvances), such excess amount shall be immediately due and payable, without the necessity of any
demand, at the Payment Account (it being understood and agreed that it shall be an Event of Default if at any time Excess Availability is less than $0). 
 2.7 Statement of Account. 
 Agent shall maintain, in accordance with its
customary procedures, a loan account (the “Borrowers’ Account”) in the name of the Borrowers in which shall be recorded the date and amount of each Advance made by Lenders and the date and amount of each payment in respect thereof;
provided, however, that, the failure by Agent to record the date or amount of any Advance or any other item shall not adversely affect Agent or any Lender under this Agreement or any Other Document or diminish any obligation of
any Loan Party under this Agreement or any Other Document. Each month, Agent shall send to Administrative Borrower a statement showing the accounting for the Advances made, payments made or credited in respect thereof, and certain other transactions
between Lenders and the Borrowers, during such month. The monthly statements shall be deemed correct and binding upon the Borrowers in the absence of manifest error and shall constitute an account stated between Lenders and the Borrowers unless
Agent receives a written statement of the Borrowers’ specific exceptions thereto within thirty (30) days after such statement is received by Administrative Borrower. The records of Agent with respect to each Borrowers’ Account shall
be conclusive evidence absent manifest error of the amounts of Advances and other charges thereto and of payments applicable thereto. 
 2.8 Letters of Credit. 
 Subject to the terms and conditions hereof, Agent
shall issue or cause the issuance of letters of credit (collectively, “Letters of Credit”) by the Issuer on behalf of the Borrowers; provided, however, that, Agent will not be required to issue or cause to be issued
any Letters of Credit to the extent that the face amount of such Letters of Credit would cause Excess Availability to be less than $0. The maximum amount of outstanding Letters of Credit shall not exceed $5,000,000 in the aggregate at any time. All
outstanding reimbursement obligations and disbursements or payments related to Letters of Credit shall be deemed to be Base Rate Loans consisting of Revolving Advances and shall bear interest at the Revolving Interest Rate for Base Rate Loans.
Notwithstanding anything to the contrary contained in this Agreement, in the event that there is a Defaulting Lender, an Impacted Lender or Prior Defaulting/Impacted Lender, Issuing Bank shall not be required to (and, in any event, shall not if
directed by Agent) issue any Letter of Credit, or increase or extend or otherwise amend any Letter of Credit, unless the Borrowers provide cash collateral to Issuing Bank with respect thereto to hold, on terms and conditions satisfactory to Issuing
Bank and Agent, in an amount equal to such Defaulting Lender’s, Impacted Lender’s or Prior Defaulting/Impacted Lender’s Commitment Percentage of all obligations in respect of Letters of Credit and in any such event, the Defaulting or
Impacted Lender or Prior Defaulting or Impacted Lender shall not be entitled to any commitment fee or Letter of Credit Fees. 

  
 45 

 2.9 Issuance of Letters of Credit. 

(a) Administrative Borrower may request Agent to issue or cause the issuance of a Letter of Credit by delivering to Agent Issuer’s
standard form of letter of credit application and, if requested, letter of credit security agreement (collectively, the “Letter of Credit Application”) and any draft, if applicable, completed to the satisfaction of Agent, together with
such other certificates, documents and other papers and information as Agent or Issuer may reasonably request. 
 (b) Each
Letter of Credit shall, among other things, (i) provide for the payment of sight drafts or acceptances of issuance drafts when presented for honor thereunder in accordance with the terms thereof and when accompanied by the documents described
therein, (ii) be denominated in Dollars and (iii) have an expiry date not later than one (1) year after such Letter of Credit’s date of issuance, and in no event having an expiry date later than five (5) Business Days prior
to the Termination Date unless Loan Parties provide cash collateral equal to not less than one hundred five (105%) percent of the face amount thereof to be held by Agent pursuant to a cash collateral agreement in form and substance reasonably
satisfactory to Agent; provided, that, any Letter of Credit with a one (1) year term may provide for the renewal thereof for additional one (1) year periods (which shall in no event extend beyond the date referred to in
clause (iii) above). 
 (c) Agent shall use its reasonable efforts to notify Lenders of the request by Administrative
Borrower for a Letter of Credit hereunder, but any failure to so notify Lenders shall not reduce any liability or any obligation of the Lenders hereunder or any rights of Agent hereunder. 

2.10 Requirements for Issuance of Letters of Credit. 
 (a) In connection with the issuance of any Letter of Credit, each Borrower shall indemnify, save and hold Agent, each Lender and each Issuer harmless from any loss, cost, expense or liability, including,
without limitation, payments made by Agent, any Lender or any Issuer and expenses and reasonable attorneys’ fees incurred by Agent, any Lender or any Issuer arising out of, or in connection with, any Letter of Credit, except for any loss, cost,
expense, liability or payment resulting from Agent’s, any Lender’s, or any Issuer’s gross (not mere) negligence or willful misconduct, as determined pursuant to a final, non-appealable order of a court of competent jurisdiction. The
Borrowers shall be bound by Agent’s or Issuer’s regulations and good faith interpretations of any Letter of Credit, although this interpretation may be different from Borrowers’ own interpretation; and, neither Agent, nor any Lender,
nor any Issuer shall be liable for any error, negligence, or mistakes, whether of omission or commission, in following any Borrower’s instructions or those contained in any Letter of Credit or of any modifications, amendments or supplements
thereto or in issuing or paying any Letter of Credit except for Agent’s, any Lender’s, or any Issuer’s gross (not mere) negligence or willful misconduct, as determined pursuant to a final, non-appealable order of a court of competent
jurisdiction. 
 (b) The Borrowers shall authorize and direct any Issuer of a Letter of Credit to deliver to Agent all related
payment/acceptance advices, to deliver to Agent all instruments, documents, and other writings and property received by the Issuer pursuant to the Letter of Credit and to accept and rely upon Agent’s instructions and agreements with respect to
all matters arising in connection with the Letter of Credit or the application therefor. 

  
 46 

 (c) In connection with all Letters of Credit issued or caused to be issued by Agent under
this Agreement, each Borrower hereby appoints Agent, or its designee, as its attorney, with full power and authority upon the occurrence and during the continuance of an Event of Default: (i) to sign and/or endorse each Borrower’s name
upon any warehouse or other receipts, Letter of Credit Applications and acceptances; (ii) to sign each Borrower’s name on bills of lading; (iii) to clear Inventory through Customs in the name of each Borrower or Agent or Agent’s
designee, and to sign and deliver to Customs officials powers of attorney in the name of each Borrower for such purpose; and (iv) to complete in each Borrower’s name or Agent’s, or in the name of Agent’s designee, any order, sale
or transaction, obtain the necessary documents in connection therewith, and collect the proceeds thereof. Neither Agent nor its attorneys will be liable for any acts or omissions nor for any error of judgment or mistakes of fact or law, except for
Agent’s or its attorney’s gross (not mere) negligence or willful misconduct, as determined pursuant to a final, non-appealable order of a court of competent jurisdiction. This power, being coupled with an interest, is irrevocable as long
as any Letters of Credit remain outstanding. 
 (d) Each Lender, according to its Commitment Percentage, shall to the extent of
the aggregate amount of all unreimbursed reimbursement obligations arising from disbursements made or obligations incurred with respect to the Letters of Credit be deemed to have irrevocably purchased an undivided participation in (i) each such
unreimbursed reimbursement obligation, (ii) Agent’s credit support enhancement provided to the Issuer of any Letter of Credit and (iii) each Revolving Advance made as a consequence of the issuance of a Letter of Credit and all
disbursements thereunder. In the event that at the time a disbursement is made the unpaid balance of Revolving Advances exceeds or would exceed, with the making of such disbursement, the amount permitted under Section 2.1, and such disbursement
is not reimbursed by the Borrowers within two (2) Business Days, upon Agent’s demand each Lender shall pay to Agent such Lender’s Commitment Percentage of such unreimbursed disbursement together with such Lender’s Commitment
Percentage of Agent’s unreimbursed costs and expenses relating to such unreimbursed disbursement. Upon receipt by Agent of a repayment from the Borrowers of any amount disbursed by Agent for which Agent had already been reimbursed by Lenders,
Agent shall deliver to each Lender that Lender’s proportionate share of such repayment. Each Lender’s participation commitment shall continue until the last to occur of any of the following events: (A) Agent ceases to be obligated to
issue or cause to be issued Letters of Credit hereunder; (B) no Letter of Credit issued hereunder remains outstanding and uncancelled or (C) Agent, Issuer and all Persons (other than the Borrowers) have been fully reimbursed for all
payments made under or relating to Letters of Credit. 
 2.11 Additional Payments/Protective Advances. 

Any sums expended (a) by Agent or any Lender due to any Loan Party’s failure to perform or comply with its Obligations under
this Agreement or any Other Document, or (b) by Agent to protect the Collateral or enhance the likelihood of repayment of the Obligations or any portion thereof (as determined by Agent in its Permitted Discretion) may, in Agent’s Permitted
Discretion, be charged to the Borrowers’ Account as a Revolving Advance (regardless of whether or not the conditions specified in this Agreement for the making of a Revolving Advance have been satisfied, including, without limitation, Sections
2.1 or 8.2) and added to the Obligations, and each Lender shall be obligated in connection therewith as if such conditions had been satisfied (including, without limitation, to fund its Commitment Percentage of such Revolving Advances). Such sums
charged to the Borrowers’ Account as a Revolving Advance (collectively, “Protective Advances”), plus the amount of intentional over-Advances made pursuant to Section 16.2(d), shall not exceed an amount outstanding equal to
ten (10%)percent of the Maximum Credit without the consent of each of the Lenders. Notwithstanding anything contained in this Section 2.12 to the contrary, any proposed Protective Advance shall be subject to the limitations set forth in
Section 2.1(b)(i). 

  
 47 

 2.12 Manner of Borrowing and Payment. 

(a) Each borrowing of Advances shall be advanced according to the applicable Commitment Percentages of Lenders. 

(b) All proceeds of Collateral, together with each payment (including each prepayment) by the Borrowers on account of the principal of
the Advances, shall be applied to the Advances pro rata according to the applicable Commitment Percentages of Lenders. Except as expressly provided herein, all payments (including prepayments) to be made by the Borrowers on account of principal,
interest and fees shall be made in Dollars without setoff or counterclaim and shall be made to Agent on behalf of the Agent and the Lenders to the Payment Account, in each case on or prior to the time specified in Section 2.5(c) in immediately
available funds. 
 (c) Notwithstanding anything to the contrary contained in Sections 2.13(a) and 2.13(b)
or any other provision of this Agreement, commencing with the first (1st) Business Day following the Closing Date, each or any borrowing of Advances may, in Agent’s Permitted Discretion, be advanced by Agent (on behalf of the Lenders) and each payment by the
Borrowers on account of Advances shall be applied first to those Advances advanced by Agent (any such Advance provided by the Agent may (at the discretion of the Agent) accrue interest as a Base Rate Loan, regardless of whether or not the Borrowers
requested such Advance be a LIBOR Rate Loan, until the Agent is reimbursed for such Advance). Alternatively, Agent may request that each Lender (and each Lender shall) on or before 1:00 p.m. (New York time) on the requested borrowing date, transfer
in immediately available funds to Agent such Lender’s Commitment Percentage of such requested borrowing. On each Settlement Date commencing with the first (1st) Settlement Date following the Closing Date, Agent and Lenders shall make certain payments as follows:
(i) if a Lender’s balance of the Advances (including Protective Advances and Swingline Loan Advances) exceeds such Lender’s Commitment Percentage of the Advances (including Protective Advances and Swingline Loan Advances) as of a
Settlement Date, then Agent shall transfer in immediately available funds to a deposit account of such Lender (as such Lender may designate in writing to Agent) an amount such that each such Lender shall, upon receipt of such amount, have as of the
Settlement Date, its Commitment Percentage of the Advances (including Protective Advances and Swingline Loan Advances) and (ii) if a Lender’s balance of the Advances (including Protective Advances and Swingline Loan Advances) is less than
such Lender’s Commitment Percentage of the Advances (including Protective Advances and Swingline Loan Advances) as of a Settlement Date, such Lender shall transfer in immediately available funds to the Agent, not later than 2:00 p.m. (New York
time), an amount such that each such Lender shall, upon transfer of such amount, have as of the Settlement Date, its Commitment Percentage of the Advances (including Protective Advances and Swingline Loan Advances). 

  
 48 

 (d) A Lender shall be entitled to earn interest at the applicable Interest Rate on
outstanding Advances which such Lender has funded for the periods in which such Advance was so funded by such Lender. Agent shall be entitled to earn interest at the applicable Interest Rate on outstanding Advances (including Protective Advances and
Swingline Loan Advances) which Agent has funded for the periods in which such Advance (including Protective Advances and Swingline Loan Advances) was so funded by Agent. 
 (e) Promptly following each Settlement Date, Agent shall submit to each Lender a certificate with respect to payments received and Advances made during the Week immediately preceding such Settlement Date.
Such certificate of Agent shall be conclusive in the absence of manifest error. 
 (f) If any Lender or Participant (a
“Benefited Lender”) shall at any time receive any payment of all or part of its Advances, or interest thereon, or receive any Collateral in respect thereof (whether voluntarily or involuntarily or by set-off) in a greater proportion than
any such payment to and Collateral received by any other Lender, if any, in respect of such other Lender’s Advances, or interest thereon, and such greater proportionate payment or receipt of Collateral is not expressly permitted hereunder, such
Benefited Lender shall purchase for cash from the other Lenders a participation in such portion of each such other Lender’s Advances, or shall provide such other Lender with the benefits of any such Collateral, or the proceeds thereof, as shall
be necessary to cause such Benefited Lender to share the excess payment or benefits of such Collateral or proceeds ratably with each of the other Lenders according to their Commitment Percentages thereof; provided, however,
that, if all or any portion of such excess payment or benefits is thereafter recovered from such Benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without
interest. Each Lender so purchasing a portion of another Lender’s Advances may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of
such portion. 
 (g) Unless Agent shall have been notified in writing, prior to the making of any Advance, by any Lender that
such Lender will not make the amount which would constitute its applicable Commitment Percentage of the Advances available to Agent, Agent may (but shall not be obligated to) assume that such Lender shall make (and such Lender unconditionally shall
be obligated to make) such amount available to Agent on or prior to the next Settlement Date and, in reliance upon such assumption, make available to Administrative Borrower (on behalf of the applicable Borrower(s)) a corresponding amount. Agent
will promptly notify Administrative Borrower of its receipt of any such notice from a Lender. If such amount is made available to Agent on a date after such next Settlement Date, such Lender shall pay to Agent on demand an amount equal to the
product of (i) the daily average Federal Funds Rate (computed on the basis of a year of three hundred sixty (360) days) during such period as quoted by Agent, times (ii) such amount, times (iii) the number of days from and
including such Settlement Date to the date on which such amount becomes immediately available to Agent. A certificate of Agent submitted to any Lender with respect to any amounts owing under this paragraph (g) shall be conclusive, in the
absence of manifest error. If such amount is not in fact made available to Agent by such Lender within three (3) Business Days after such Settlement Date, Agent shall be entitled to recover such an amount, with interest thereon at the rate per
annum then applicable to such Advance hereunder, on demand from the Borrowers; provided, however, that, Agent’s right to such recovery shall not prejudice or otherwise adversely affect the Borrowers’ rights (if any)
against such Lender. 

  
 49 

 2.13 Mandatory Prepayments. 

Notwithstanding the following, during a Waterfall Event, the order of application to the Obligations shall be made pursuant to
Section 11.2 rather than as is provided in this Section 2.13. 
 (a) When any Loan Party or any of their Subsidiaries
Disposes of any Collateral or other assets (other than sales of Inventory in the ordinary course of business) or receives proceeds of property or casualty insurance, within one (1) Business Day thereof, Loan Parties shall repay the Advances in
an amount equal to one hundred (100%) percent of the net cash proceeds of such sale (i.e., gross cash proceeds less the reasonable out-of-pocket costs and expenses in respect of such Dispositions (including any taxes and similar
amounts)) or all of the cash proceeds of such insurance, as applicable, such repayments to be made promptly but in no event more than one (1) Business Day following receipt of such proceeds, and until the date of payment, such proceeds shall be
held in trust for Agent. Such repayments shall be applied to the Revolving Advances in such order as Agent may determine until paid in full, subject to the Borrowers’ ability to reborrow Revolving Advances in accordance with the terms hereof.
Notwithstanding the foregoing, unless and until an Event of Default has occurred and is continuing or would result therefrom, such proceeds from Dispositions and insurance payments that do not exceed $250,000 in the aggregate in any fiscal year may
be retained by Loan Parties solely to acquire replacement assets without making a mandatory prepayment hereunder so long as (1) the fair market value of the acquired assets is equal to or greater than the fair market value of the assets which
were Disposed or subject to the insurance payment, as applicable, (2) the acquired assets are purchased by the applicable Loan Party within one hundred twenty (120) days of the Disposal of the assets or receipt of the insurance payment, as
applicable, (3) the acquired assets are acceptable to Agent in its Permitted Discretion, (4) if the assets that were Disposed or that were the subject of the insurance payment, as applicable, were Collateral, the acquired assets must all
be Collateral and shall be subject to Agent’s first priority Lien created hereunder (other than with respect to the Term Loan Priority Collateral (subject to the Term Loan Intercreditor Agreement) or subject to Permitted Encumbrances), and
(5) until such time as the proceeds are used to acquire such replacement assets, at Agent’s option, either (x) such proceeds shall be held by Agent as cash collateral for the Obligations pursuant to terms acceptable to Agent in its
sole discretion or (y) such proceeds shall be applied as a repayment of Revolving Advances and a Reserve in the amount of such repayment shall be established. Such cash collateral or Reserve, as the case may be, shall be released by Agent only
in connection with the making of a Revolving Advance to be used by the Borrowers solely for the purposes of funding the acquisition of replacement assets pursuant to the terms of this Section 2.13; provided, however, that,
nothing contained herein shall waive or modify any conditions to the making of Revolving Advances or any other provisions of this Agreement. If a Loan Party fails to meet the conditions set forth above, Loan Parties hereby authorize Agent and
Lenders to apply the proceeds held by Agent as a prepayment of the Advances in the manner set forth above. The provisions of this Section 2.13(a) shall not be deemed to be implied consent to any such Disposition otherwise prohibited by the
terms and conditions of this Agreement or any Other Document. 
 (b) Within one (1) Business Day of the date of receipt by
any Loan Party or any of its Subsidiaries of any Extraordinary Receipts in excess of $50,000 individually or in the aggregate, Borrowers shall prepay the outstanding amount of the Advances in an amount equal to one hundred (100%) percent of
such Extraordinary Receipts, net of any reasonable out of pocket fees and expenses incurred in collecting such Extraordinary Receipts. Such Extraordinary Receipts shall be applied to the Revolving Advances in such order as Agent may determine until
paid in full, subject to the Borrowers’ ability to reborrow Revolving Advances in accordance with the terms hereof. The provisions of this Section 2.13(b) shall not be deemed to be implied consent to any event giving rise to such
Extraordinary Receipts otherwise prohibited by the terms and conditions of this Agreement. 

  
 50 

 (c) Within one (1) Business Day of the date of the issuance by any Loan Party or any of
its Subsidiaries of any shares of its or their Equity Interests (other than (i) the issuance of Equity Interests to another Loan Party or Subsidiary thereof, (ii) the issuance of Equity Interests of Parent to directors, officers and
employees of a Loan Party and any of their respective Subsidiaries pursuant to employee stock option plans (or other employee incentive plans or other compensation arrangements) approved by the board of directors of Parent and (iii) the
issuance of Equity Interests of Parent, to the extent the proceeds thereof are used concurrently with the issuance thereof to fund the purchase price of a Permitted Acquisition), Borrowers shall prepay the outstanding amount of the Advances in an
amount equal to one hundred (100%) percent of the net cash proceeds of such sale (i.e., gross cash proceeds less the reasonable out-of-pocket costs and expenses in respect of such issuance (including any taxes and similar
amounts)) received by such Person in connection with such issuance. Such proceeds shall be applied to the Revolving Advances in such order as Agent may determine until paid in full, subject to the Borrowers’ ability to reborrow Revolving
Advances in accordance with the terms hereof. The provisions of this Section 2.13(c) shall not be deemed to be implied consent to any such issuance otherwise prohibited by the terms and conditions of this Agreement. 

2.14 Use of Proceeds. 
 The Borrowers shall use the initial proceeds of the Advances and Letters of Credit hereunder only for: (a) payments on the Closing Date to each of the Persons listed in the disbursement direction
letter furnished by the Borrowers to Agent on or about the Closing Date and (b) costs, expenses and fees incurred on or prior to the Closing Date in connection with the preparation, negotiation, execution and delivery of this Agreement and the
Other Documents. All other Advances made or Letters of Credit provided to or for the benefit of the Borrowers pursuant to the provisions hereof shall be used by the Borrowers only for general operating, working capital and other general corporate
purposes of the Borrowers not otherwise prohibited by the terms hereof, including, without limitation, any Permitted Acquisitions permitted hereunder and any payments in respect of Indebtedness under the Term Loan Documents. Further, none of the
proceeds will be used, directly or indirectly, for the purpose of purchasing or carrying any margin security or for the purposes of reducing or retiring any Indebtedness which was originally incurred to purchase or carry any margin security or for
any other purpose which might cause any of the Advances to be considered a “purpose credit” within the meaning of Regulation U of the Board of Governors of the Federal Reserve System, as amended. 

2.15 Defaulting Lender/Impacted Lender. 
 (a) Notwithstanding anything to the contrary contained herein, in the event any Lender (i) has refused (if the refusal constitutes a breach by such Lender of its obligations under this Agreement) to
make available its portion of any Advance, (ii) notifies either Agent or Administrative Borrower that it does not intend to make available its portion of any Advance (if the actual refusal would constitute a breach by such Lender of its
obligations under this Agreement), or (iii) failed to fund any payments required to be made by it under this Agreement or any Other Document (each, a “Lender Default”), all rights and obligations hereunder of such Lender (a
“Defaulting Lender”) as to which a Lender Default is in effect and of the other parties hereto shall be modified to the extent of the express provisions of this Section 2.15 while such Lender Default remains in effect. Notwithstanding
the foregoing, no Lender Default shall be deemed to occur with respect to a Lender, and such Lender shall not constitute a Defaulting Lender hereunder, if such Lender notifies Agent and Borrowers in writing that such Lender’s refusal or failure
to fund any Advance or any such payments required to be made by it hereunder is the result of such Lender’s determination that one or more conditions precedent to funding as set forth in this Agreement (each of which conditions precedent,
together with any applicable Default or Event of Default, shall be specifically identified in writing) has not been satisfied. 

  
 51 

 (b) The obligations of each Lender to make Advances shall continue to be based on their
respective Commitment Percentages, and no Commitment Percentage of any Lender or any Commitment Percentage of any Advances required to be advanced by any Lender shall be increased as a result of a Lender Default. Amounts received in respect of the
Obligations owing to the Lenders shall be applied to reduce the applicable Obligations owing to each Lender that is not a Defaulting Lender prior to any such amounts being applied to reduce the Obligations owing to such Defaulting Lender to the
extent that the aggregate amount of outstanding Obligations owing to such Defaulting Lender is less than what it would have been if such Lender Default did not occur. 
 (c) Notwithstanding anything set forth herein to the contrary, a Defaulting Lender shall not have any voting or consent rights, or be permitted to direct the Agent, under or with respect to any Loan
Document or constitute a “Lender” (or be included in the calculation of “Required Lenders” hereunder) for any voting or consent rights, or in directing the Agent, under or with respect to any Loan Document; provided,
that, the foregoing shall not permit (i) an increase in the principal amount of such Defaulting Lender’s Commitment, (ii) the reduction of the principal of, rate of interest on (other than the waiver of any default rate) or
fees payable with respect to any Loan or Letter of Credit of such Defaulting Lender or (iii) unless all other Lenders affected thereby are treated similarly, the extension of any scheduled (as opposed to mandatory prepayment) payment date or
final maturity date of the principal among of any Loan of such Defaulting Lender. 
 (d) Other than as expressly set forth in
this Section 2.15, the rights and obligations of a Defaulting Lender (including the obligation to indemnify Agent; provided, that, to the extent that a Defaulting Lender fails to timely indemnify Agent or any Issuer pursuant to
the terms and conditions of this Agreement or any Other Document, the other Lenders shall contribute to such shortfall in such indemnification according to their Commitment Percentages thereof) and the other parties hereto shall remain unchanged.
Nothing in this Section 2.15 shall be deemed to release any Defaulting Lender from its obligations under this Agreement and the Other Documents, shall alter such obligations, shall operate as a waiver of any default by such Defaulting Lender
hereunder, or shall prejudice any rights which the Borrowers, Agent or any Lender may have against any Defaulting Lender as a result of any default by such Defaulting Lender hereunder. At the option of Agent, any amount payable to a Defaulting
Lender hereunder (whether on account of principal, interest, fees or otherwise) shall, in lieu of being distributed to such Defaulting Lender, be retained by Agent as cash collateral for future funding obligations of the Defaulting Lender in respect
of any Advance or existing or future participating interest in any Swingline Loan Advance or Letter of Credit (including the obligation to indemnify Agent pursuant to Section 14.7). Loan Parties shall not be obligated to pay any Defaulting
Lender any unused line fee payable pursuant to Section 3.3(a). Any Defaulting Lender’s decision-making and participation rights and rights to payments hereunder (including, without limitation, any rights to receive the unused line fee
payable pursuant to Section 3.3(a)) shall be restored only upon the payment by the Defaulting Lender of its Commitment Percentage of any Obligations, any participation obligation, or expenses as to which it is delinquent, together with interest
thereon at the rate set forth in Section 2.13(g) hereof from the date when originally due until the date upon which any such amounts are actually paid. 

  
 52 

 (e) In the event a Defaulting Lender retroactively cures to the satisfaction of Agent the
breach which caused a Lender to become a Defaulting Lender, then, from and after the date on which such cure has been so effected, such Defaulting Lender shall no longer be a Defaulting Lender and shall be treated as a Lender that is not a
Defaulting Lender under this Agreement. 
 (f) Agent or Administrative Borrower (on behalf of Borrowers) may replace a
Defaulting Lender or an Impacted Lender in accordance with Section 16.2(d). 
 2.16 Joint and Several Liability.

 (a) All Borrowers shall be liable, on a joint and several basis, for all Obligations, including, without limitation, all
amounts due to Agent and Lenders under this Agreement and the Other Documents, regardless of which Borrower actually receives the Advances or other proceeds of the Obligations or the manner in which Agent and Lenders account for such Advances or
other Obligations on its books and records or for any other reason. The Obligations with respect to Advances made to a Borrower, and the Obligations arising as a result of the joint and several liability of a Borrower hereunder, with respect to
Advances made to the other Borrowers hereunder, shall be separate and distinct obligations, but all such Obligations shall be primary obligations of all Borrowers. The Obligations arising as a result of the joint and several liability of a Borrower
hereunder with respect to Advances or other Obligations shall, to the fullest extent permitted by law, be unconditional irrespective of (i) the validity or enforceability, avoidance or subordination of the Obligations of the other Borrowers or
of any promissory note or other document evidencing all or any part of the Obligations of the other Borrowers, (ii) any incapacity or lack of power, authority or legal personality of any other Borrower or other Person, (iii) the absence of
any attempt to collect the Obligations from the other Borrowers or any other security therefor, or the absence of any other action to enforce or failure to realize the full value of the same, (iv) any amendment (however fundamental) replacement
variation, assignment termination and/or the waiver, consent, extension, forbearance or granting of any indulgence by Agent or Lenders with respect to any provisions of any instrument evidencing the Obligations of the other Borrowers, or any part
thereof, or any other agreement now or hereafter executed by the other Borrowers and delivered to Agent or Lenders, (v) the failure by Agent, Lenders or any other Person to take any steps to perfect and maintain its Lien in, or to preserve its
rights and maintain its security or collateral for the Obligations of the other Borrowers, (vi) the election of Agent, Lenders or any other Person in any proceeding instituted under Title 11 of the United States Code, as amended
(“Bankruptcy Code”), of the application of Section 1111(b)(2) of the Bankruptcy Code, (vii) the disallowance of all or any portion of the claim(s) of Agent, Lenders or any other Person for the repayment of the Obligations of the
other Borrowers under Section 502 of the Bankruptcy Code, (viii) any insolvency, liquidation, administration or similar procedure or corporate action in respect of any other Borrower and/or any legal proceedings or procedures by any of the
other Borrowers’ creditors or (ix) any other circumstances which might constitute a legal or equitable discharge or defense of the other Borrowers. With respect to the Obligations arising as a result of the joint and several liability of a
Borrower hereunder with respect to Advances, Letters of Credit or other Obligations, each Borrower waives, until all of the Obligations have been Paid in Full, any right to enforce any right of subrogation or any remedy which Agent, Lenders or any
other Person now has or may hereafter have against Borrowers, any endorser or any guarantor of all or any part of the Obligations, and any benefit of, and any right to participate in, any security or collateral given to Agent, Lenders or any other
Person. Upon any Event of Default and for so long as the same is continuing, Agent and Lenders may proceed directly and at once, without notice, against any Borrower to collect and recover the full amount, or any portion of the Obligations, without
first proceeding against the other Borrowers or any other Person, or against any security or collateral for the Obligations. Each Borrower consents and agrees that none of Agent, Lenders or any other Person shall be under any obligation to marshal
any assets in favor of Borrowers or any other Person or against or in payment of any or all of the Obligations. 

  
 53 

 (b) Each Borrower expressly waives any and all rights of subrogation, reimbursement,
indemnity, exoneration, contribution of any other claim which such Borrower may now or hereafter have against the other Borrowers or any other Person directly or contingently liable for the Obligations hereunder, or against or with respect to the
other Borrowers’ property (including, without limitation, any property which is Collateral for the Obligations), arising from the existence or performance of this Agreement. 

2.17 Interrelated Businesses. 
 Loan Parties hereby represent and warrant to Agent and Lenders that (a) Loan Parties and their respective Subsidiaries make up a related organization of various entities constituting a single
economic and business enterprise so that Loan Parties and their respective Subsidiaries share an identity of interests such that any benefit received by any Loan Party or any Subsidiary of any Loan Party benefits each other Loan Party and each other
Subsidiary of Loan Parties; (b) certain of Loan Parties and their respective Subsidiaries render services to or for the benefit of other Loan Parties and Subsidiaries, as the case may be, purchase or sell and supply goods to or from or for the
benefit of the others, make loans, advances and provide other financial accommodations to or for the benefit of the other Loan Parties and Subsidiaries (including, inter alia, the payment by Loan Parties and Subsidiaries of creditors of the other
Loan Parties and Subsidiaries and guarantees by Loan Parties and Subsidiaries of indebtedness of the other Loan Parties and Subsidiaries and provide administrative, marketing, payroll and management services to or for the benefit of the other Loan
Parties and Subsidiaries), and (c) Loan Parties and their Subsidiaries have centralized accounting and legal service, common officers and directors and are identified to creditors as a single economic and business enterprise. 

2.18 Appointment of Administrative Borrower as Agent for Requesting Advances and Letters of Credit and Receipts of Advances and
Statements and Receipts and Sending of Notices. 
 (a) Each Borrower hereby irrevocably appoints and constitutes
Administrative Borrower as its agent to request and receive Advances and Letters of Credit pursuant to this Agreement and the Other Documents from Agent or any Lender in the name or on behalf of such Borrower. Agent and Lenders may disburse the
Advances to such bank account of Administrative Borrower or a Borrower or otherwise make such Loans to a Borrower, and provide such Letters of Credit for the account of a Borrower, in each case as Administrative Borrower may designate or direct,
without notice to any other Borrower or Loan Party. Notwithstanding anything to the contrary contained herein, Agent may at any time and from time to time require that Advances (including without limitation Protective Advances) be disbursed directly
to an operating account of a Borrower or to any other Person. 

  
 54 

 (b) Each Loan Party hereby irrevocably appoints and constitutes Administrative Borrower as
its agent to receive statements on account and all other notices from Agent and Lenders with respect to the Obligations or otherwise under or in connection with this Agreement and the Other Documents. 

(c) Any notice, election, representation, warranty, agreement or undertaking by or on behalf of any Loan Party by Administrative Borrower
shall be deemed for all purposes to have been made by such Loan Party and shall be binding upon and enforceable against such Loan Party to the same extent as if made directly by such Loan Party. 

(d) Administrative Borrower hereby accepts the appointment by each Loan Party to act as the agent of the Borrowers pursuant to this
Section 2.18. Administrative Borrower shall ensure that the disbursement of any Advances to each Borrower requested by or paid to or for the account of the Borrowers, or the issuance of any Letters of Credit for the account of a Borrower
hereunder, shall be paid to or issued for the account of such Borrower. 
 (e) No purported termination of the appointment of
Administrative Borrower as agent as aforesaid shall be effective, except after ten (10) days’ prior written notice to Agent. 
 2.19 Increase in Maximum Credit. 
 (a) Subject to Section 2.19(f)
below, Administrative Borrower may, one (1) time during the Term, deliver a written request to Agent to increase the Maximum Credit; provided, that, (i) any such increase shall be subject to the consent of Agent and
satisfaction of each of the conditions set forth in Section 2.19(c) below, (ii) any such written request shall specify the request by the Administrative Borrower to the increase in the Maximum Credit by $5,000,000 to an aggregate amount of
$25,000,000, and (iii) any such request shall be irrevocable. 
 (b) Upon the receipt by Agent of any such written request,
Agent shall notify each of the Lenders of such request and each Lender (other than Defaulting Lenders, Impacted Lenders and Prior Defaulting/Impacted Lender) shall have the option (but not the obligation) to increase the amount of its Revolver
Commitment by an amount approved by Agent in its sole discretion of the amount of the increase in the Maximum Credit requested by Administrative Borrower as set forth in the notice from Agent to such Lender. Each Lender shall notify Agent within ten
(10) days after the receipt of such notice from Agent whether it is willing to so increase its Revolver Commitment, and if so, the amount of such increase; provided, that, (i) the minimum increase in the Revolving Commitment
of each such Lender providing the additional Revolver Commitment shall equal or exceed $1,000,000, and (ii) no Lender shall be obligated to provide such increase in its Revolver Commitment and the determination to increase the Revolver
Commitment of a Lender shall be within the sole and absolute discretion of such Lender. If the aggregate amount of the increases in the Revolver Commitments received from the Lenders does not equal or exceed the amount of the increase in the Maximum
Revolving Advances Amount requested by Administrative Borrower, Agent or Administrative Borrower may seek additional increases from Lenders (other than Defaulting Lenders, Impacted Lenders or Prior Defaulting/Impacted Lender) or Revolver Commitments
from such Qualified Assignees as it may determine, after, in the case of Administrative Borrower, consultation with Agent. In the event Lenders (or Lenders and any such Qualified Assignees, as the case may be) have committed in writing to provide
increases in their Revolver Commitments or new Revolver Commitments in an aggregate amount in excess of the increase in the Maximum Credit requested by Administrative Borrower or permitted hereunder, Agent shall then have the right to allocate such
commitments, first to Lenders and then to Qualified Assignees, in such amounts and manner as Agent may determine, after consultation with Administrative Borrower. 

  
 55 

 (c) The Maximum Credit shall be increased by the amount of the increase in Revolver
Commitments from Lenders or new Commitments from Qualified Assignees, in each case selected in accordance with Section 2.19(b) above, for which Agent has received written confirmation in from and substance satisfactory to Agent from such
Lenders or Qualified Assignees, as applicable, on the date requested by Administrative Borrower for the increase or such other date as Agent and Administrative Borrower may agree (but subject to the satisfaction of the conditions set forth below),
whether or not the aggregate amount of the increase in Revolver Commitments and new Revolver Commitments, as the case may be, equal or exceed the amount of the increase in the Maximum Credit requested by Administrative Borrower in accordance with
the terms hereof (but in no event shall the Maximum Revolver Amount be increased above the amounts described in Section 2.19(a)), effective on the date that Agent notifies Administrative Borrower that each of the following conditions have been
satisfied (such date being the “Maximum Credit Increase Effective Date”): 
 (i) Agent shall have received from each
Lender or Qualified Assignee that is providing an additional Revolver Commitment as part of the increase in the Maximum Credit, a written confirmation described above duly executed by such Lender or Qualified Assignee, Agent and Administrative
Borrower; 
 (ii) the conditions precedent to the making of Advances set forth in Section 8.2 shall be satisfied as of the
date of the increase in the Maximum Credit, both before and after giving effect to such increase whether or not an Advance is then being made; 
 (iii) upon the request of Agent, Agent shall have received an opinion of counsel to Loan Parties in form and substance and from counsel reasonably satisfactory to Agent addressing such matters as Agent
may reasonably request (including an opinion that such increase shall not violate Material Contracts of Loan Parties) and any other documents and agreements required by Agent with respect thereto; 

(iv) such increase in the Maximum Credit on the date of the effectiveness thereof shall not violate any term or provisions of any
applicable law, regulation or order or decree of any court or other Governmental Body and shall not be enjoined, temporarily, preliminarily or permanently; 

  
 56 

 (v) there shall have been paid to each Lender and Qualified Assignee, in each case,
providing an additional Revolver Commitment in connection with such increase in the Maximum Credit all fees and expenses due and payable to such Person on or before the effectiveness of such increase, including, without limitation, all such fees
payable pursuant to the Fee Letter; and 
 (vi) Agent shall have received evidence satisfactory to Agent in its sole discretion
that such increase in the Maximum Credit shall not violate any of the terms of the Term Loan Documents and that all Obligations at any time arising hereunder, after giving effect to such increase in the Maximum Credit, shall constitute permitted
indebtedness under and as defined therein. 
 (d) There shall have been paid to Agent, for the account of the Agent and Lenders
(in accordance with any agreement among them) all fees and expenses (including reasonable fees and expenses of counsel) due and payable pursuant to any of the Other Documents on or before the effectiveness of such increase to the extent relating to
such increase. 
 (e) As of a Maximum Credit Increase Effective Date, each reference to the term Maximum Credit herein, and in
any of the Other Documents shall be deemed amended to mean the amount of the Maximum Credit specified in the written notice from Agent to Administrative Borrower of the increase in the Maximum Credit. 

(f) As of the Closing Date, each Loan Party acknowledges, confirms and agrees that Agent and Lenders do not have credit approval to
increase the Maximum Credit as in effect on the Closing Date and the terms and provisions of this Section 2.19 shall not constitute or be deemed to constitute a commitment by Agent or any Lender to increase the Maximum Credit as in effect on
the Closing Date. 
 3. INTEREST AND FEES. 
 3.1 Interest. 
 Interest on Advances shall be payable to
Agent for the benefit of Lenders in arrears on the first
(1st) day of each month with respect to Base Rate
Loans and, with respect to LIBOR Rate Loans (including, without limitation, Swingline Loan Advances), in arrears at the end of each Interest Period or, for LIBOR Rate Loans with an Interest Period in excess of three (3) months, at the earlier
of each date that is three (3) months following date of the commencement of such Interest Period and at the end of such Interest Period. Interest charges shall be computed on the actual principal amount of Advances outstanding at a rate per
annum equal to the applicable Interest Rate. Concurrent with any increase or decrease in the Base Rate, the Interest Rate for Base Rate Loans shall be similarly changed without notice or demand of any kind by an amount equal to the amount of such
change in the Base Rate. At the election of Agent or the Required Lenders, upon and after the occurrence of an Event of Default, and during the continuation thereof, the outstanding Advances and all other Obligations shall bear interest at the
applicable Interest Rate plus two (2) percentage points per annum (as applicable, the “Default Rate”). At the election of Agent or the Required Lenders, such Default Rate shall be applied retroactively to commence on the date
of the first (1st) occurrence of the event giving
rise to such Event of Default. 

  
 57 

 3.2 Letter of Credit Fees; Cash Collateral. 

(a) The Borrowers shall pay (i) to Agent, for the benefit of Lenders according to their applicable Commitment
Percentages, fees for each Letter of Credit for the period from and excluding the date of issuance of same to and including the date of expiration or termination, equal to the average daily face amount of each outstanding Letter of Credit multiplied
by the Applicable Margin for LIBOR Rate Loans, such fees to be calculated on the basis of a three hundred sixty (360) day year for the actual number of days elapsed and to be payable monthly in arrears on the first (1st) day of each month and for so long as any Letter of Credit
remains outstanding, and (ii) to Agent for the benefit of the Issuer, any and all fees and expenses as agreed upon by the Issuer and the Borrowers in connection with any Letter of Credit, including, without limitation, in connection with the
opening, amendment or renewal of any such Letter of Credit and shall reimburse Agent for any and all fees and expenses, if any, paid by Agent to the Issuer (all of the foregoing fees described in clauses (i) and (ii) above, the
“Letter of Credit Fees”). Any such charge in effect at the time of a particular transaction shall be the charge for that transaction, notwithstanding any subsequent change in the Issuer’s prevailing charges for that type of
transaction. At the election of Agent or the Required Lenders, upon the occurrence of an Event of Default, and during the continuation thereof, Agent may, and at the direction of the Required Lenders Agent shall, increase the Letter of Credit Fees
by two (2) percentage points per annum. At the election of Agent or the Required Lenders, such increased Letter of Credit Fee shall be applied retroactively to commence on the first (1st) date of the occurrence of the event giving rise to such Event of Default. All Letter of Credit Fees payable
hereunder shall be deemed earned in full on the date when the same are due and payable hereunder and shall not be subject to rebate or proration upon the termination of this Agreement for any reason. 

(b) (i) At the election of Agent or the Required Lenders, at any time when a Default or an Event of Default has occurred and is
continuing and (ii) on the Termination Date, the Borrowers will cause cash to be deposited and maintained in a non-interest bearing account with Agent, as cash collateral, in an amount equal to one hundred five (105%) percent of the
outstanding Letters of Credit and, if requested by Agent, Bank Product Obligations, and the Borrowers hereby irrevocably authorize Agent, in its discretion, on the Borrowers’ behalf and in the Borrowers’ or Agent’s name, to open such
an account and to make and maintain deposits therein, or in an account opened by the Borrowers, in the amounts required to be made by the Borrowers, out of the proceeds of Receivables or other Collateral or out of any other funds of the Borrowers
coming into Agent or any Lender’s possession at any time. The Borrowers may not withdraw amounts credited to any such account except upon Payment in Full of all of the Obligations. 

3.3 Loan Fees. 
 (a) Unused Line Fee. If, for any month during the Term, the average daily unpaid balance of the Revolving Advances and Letters of Credit for each day of such month does not equal the Maximum
Credit, then the Borrowers shall pay to Agent, for the ratable benefit of Lenders (other than any Defaulting Lenders) according to their Commitment Percentages, a fee at a rate equal to one-half of one (0.50%) percent per annum on the amount by
which the Maximum Credit exceeds such average daily unpaid balance. Such fee shall be payable to Agent in arrears on the first (1st) day of each month, commencing May 1, 2012. 

  
 58 

 (b) Other Fees. The Borrowers shall pay to Agent, for Agent’s own account (and
not for the account of any Lender), the other fees and amounts set forth in the Fee Letter in the amounts and at the times specified therein. 
 3.4 Computation of Interest and Fees. 
 Interest and fees hereunder shall be
computed on the basis of a year of three hundred sixty (360) days and for the actual number of days elapsed; except, that, interest on Base Rate Loans shall be computed on the basis of a year of three hundred sixty-five
(365) or three hundred sixty-six (366) days, as applicable, and for the actual number of days elapsed. If any payment to be made hereunder becomes due and payable on a day other than a Business Day, the due date thereof shall be extended
to the next succeeding Business Day and interest thereon shall be payable at the applicable Interest Rate for Base Rate Loans during such extension. 
 3.5 Maximum Charges. 
 In no event whatsoever shall interest and other
charges charged hereunder exceed the highest rate permissible under law. For greater certainty, in the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under law, such excess amount shall be
first applied to any unpaid principal balance owed by the Borrowers, and if the then remaining excess amount is greater than the previously unpaid principal balance, Lenders shall promptly refund such excess amount to the Borrowers and the
provisions hereof shall be deemed amended to provide for such permissible rate. 
 3.6 Increased Costs. 

In the event that any applicable law, treaty or governmental regulation, or any change therein or in the interpretation or application
thereof is effected after the Closing Date (provided, however, that, notwithstanding anything herein to the contrary, this Section 3.6 shall be deemed to apply to the Dodd-Frank Wall Street Reform and Consumer Protection
Act and to The Basel III Accord published by The Basel Committee on Banking Supervision, and to all requests, rules, regulations, guidelines or directives under either of the foregoing or issued in connection therewith, regardless of the date
enacted, adopted or issued, even if enacted, adopted or issued before the Closing Date), or compliance by any Lender (for purposes of this Section 3.6, the term “Lender” shall include Agent or any Lender and any corporation or bank
controlling Agent or any Lender or any Subsidiary of Agent or any Lender) and the office or branch where any Lender makes or maintains any LIBOR Rate Loans with any request or directive (whether or not having the force of law) from any central bank
or other financial, monetary or other authority, in each case adopted after the Closing Date, shall: 
 (a) subject any Lender to
any tax (other than any Excluded Tax) of any kind whatsoever, as a result of a Change in Tax Law, with respect to this Agreement or any Other Document or change the basis of taxation of payments to any Lender of principal, fees, interest or any
other amount payable in respect thereof (except for changes in any Excluded Tax); 
 (b) impose, modify or hold applicable any
reserve, special deposit, assessment or similar requirement against assets held by, or deposits in or for the account of, advances or loans by, or other credit extended by, any office of any Lender, including (without limitation) pursuant to
Regulation D of the Board of Governors of the Federal Reserve System; or 

  
 59 

 (c) impose on any Lender any other condition with respect to this Agreement or any Other
Document; 
 and the result of any of the foregoing is to increase the cost to any Lender of making, renewing or maintaining its Advances
hereunder or to reduce the amount of any payment (whether of principal, interest or otherwise) in respect of any of the Advances or the Lender’s overall capital, then, in any case the Borrowers shall promptly pay such Lender, upon its demand,
such additional amount as will compensate such Lender for such additional cost or such reduction, as the case may be. Such Lender shall certify the amount of such additional cost or reduced amount to Administrative Borrower and Agent, and such
certification shall be conclusive absent manifest error. Notwithstanding anything to the contrary in this Section 3.6, Loan Parties shall not be required to compensate a Lender pursuant to this Section 3.6 for any amounts incurred more
than one hundred eighty (180) days prior to the date that such Lender notifies Administrative Borrower of such Lender’s intention to claim compensation therefor; provided, that, if the circumstances giving rise to such claim have a
retroactive effect, then such one hundred eighty (180) day period shall be extended to include the period of such retroactive effect. 
 If
any Lender requests compensation under this Section 3.6, then such Lender shall use reasonable efforts to designate a different lending office for funding or booking such Lender’s Advances or to assign its rights and obligations hereunder
to another of its offices, branches or affiliates if, in the judgment of Agent, such designation or assignment (i) would eliminate or reduce amounts payable pursuant to this Section 3.6 in the future, and (ii) in each case, would not
subject such Lender to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender. Borrowers hereby agree to pay all reasonable costs and expenses incurred by Agent or such Lender in connection with any such
designation or assignment. 
 3.7 Basis For Determining Interest Rate Inadequate or Unfair. 

In the event that Agent or any Lender shall have determined that: 
 (a) reasonable means do not exist for ascertaining LIBOR applicable pursuant to Section 2.2 for any Interest Period; or 
 (b) Dollar deposits in the relevant amount and for the relevant maturity are not available to Agent or such Lender in the London interbank market, with respect to an outstanding LIBOR Rate Loan, a
proposed LIBOR Rate Loan, or a proposed conversion of a Base Rate Loan into a LIBOR Rate Loan; or 
 (c) the LIBOR for any
requested Interest Period with respect to a proposed LIBOR Rate Loan does not adequately and fairly reflect the cost to Agent or any Lender of funding such LIBOR Rate Loan, 

  
 60 

 then Agent, on behalf of itself or at the direction of such Lender, shall give Administrative Borrower
prompt written, telephonic or telegraphic notice of such determination. If such notice is given, (i) any such requested LIBOR Rate Loan shall be made as a Base Rate Loan, unless Administrative Borrower shall notify Agent no later than 10:00
a.m. (New York time) two (2) Business Days prior to the date of such proposed borrowing, that its request for such borrowing (A) shall be cancelled, (B) shall be made as a LIBOR Rate Loan with a different Interest Period for which
LIBOR can be ascertained (if such notice is given solely with respect to clause (a) above), (C) shall be made as a LIBOR Rate Loan with a different Interest Period which is available in the London interbank market to Agent or such Lender
(if such notice is given solely with respect to clause (b) above) or (D) shall be made as a LIBOR Rate Loan with a different Interest Period which does adequately and fairly reflect the cost to Agent or such Lender (if such notice is given
solely with respect to clause (c) above), and (ii) any Base Rate Loan or LIBOR Rate Loan which was to have been continued as or converted to an affected type of LIBOR Rate Loan shall be continued as or converted into a Base Rate Loan, or,
if Administrative Borrower shall notify Agent, no later than 10:00 a.m. (New York time) two (2) Business Days prior to the proposed conversion, such Base Rate Loan or LIBOR Rate Loan, (A) shall be continued or converted as a LIBOR Rate
Loan with a different Interest Period for which LIBOR can be ascertained (if such notice is given solely with respect to clause (a) above), (B) shall be continued or converted as a LIBOR Rate Loan with a different Interest Period which is
available in the London interbank market to Agent or such Lender (if such notice is given solely with respect to clause (b) above) or (C) shall be continued or converted as a LIBOR Rate Loan with a different Interest Period which does
adequately and fairly reflect the cost to Agent or such Lender (if such notice is given solely with respect to clause (c) above), and (iii) any outstanding affected LIBOR Rate Loans shall be converted into a Base Rate Loan, or, if
Administrative Borrower shall notify Agent, no later than 10:00 a.m. (New York time) two (2) Business Days prior to the last Business Day of the then current Interest Period applicable to such affected LIBOR Rate Loan, shall be converted into
(A) a LIBOR Rate Loan with a different Interest Period for which LIBOR can be ascertained (if such notice is given solely with respect to clause (a) above), (B) a LIBOR Rate Loan with a different Interest Period which is available in
the London interbank market to Agent or such Lender (if such notice is given solely with respect to clause (b) above) or (C) a LIBOR Rate Loan with a different Interest Period which does adequately and fairly reflect the cost to Agent or
such Lender (if such notice is given solely with respect to clause (c) above). Until such notice has been withdrawn, Lenders shall have no obligation to make an affected type of LIBOR Rate Loan or maintain outstanding affected LIBOR Rate Loans
and the Borrowers (or Administrative Borrower on behalf of Borrowers) shall have no right to convert a Base Rate Loan or an unaffected type of LIBOR Rate Loan into an affected type of LIBOR Rate Loan. 

3.8 Capital Adequacy. 
 (a) In the event that any Lender (for purposes of this Section 3.8, the term “Lender” shall include Agent or any Lender and any corporation or bank controlling Agent or any Lender) shall
have determined that any applicable law, rule, regulation or guideline regarding capital adequacy in effect on the Closing Date, or any change therein effected after the Closing Date, or any change in the interpretation or administration thereof by
any Governmental Body, central bank or other financial, monetary or other authority, in each case adopted after the Closing Date, charged with the interpretation or administration thereof, or compliance by any Lender and the office or branch where
any Lender (as so defined) makes or maintains any LIBOR Rate Loans with any request or directive regarding capital adequacy (whether or not having the force of law) of any such authority, central bank or comparable agency, has or would have the
effect of reducing the rate of return on any Lender’s capital as a consequence of its obligations hereunder to a level below that which such Lender could have achieved but for such adoption, change or compliance (taking into consideration each
Lender’s policies with respect to capital adequacy), then, from time to time, the Borrowers shall pay upon demand to such Lender such additional amount or amounts as will compensate such Lender for such reduction; provided,
however, that, notwithstanding anything herein to the contrary, this Section 3.8 shall be deemed to apply to the Dodd-Frank Wall Street Reform and Consumer Protection Act and to The Basel III Accord published by The Basel
Committee on Banking Supervision, and to all requests, rules, regulations, guidelines or directives under either of the foregoing or issued in connection therewith, regardless of the date enacted, adopted or issued, even if enacted, adopted or
issued before the Closing Date. In determining such amount or amounts, such Lender may use any reasonable averaging or attribution methods. Such Lender shall certify the amount of such reduction and provide a reasonably detailed calculation thereof
to Administrative Borrower and Agent. Notwithstanding anything to the contrary in this Section 3.8, Loan Parties shall not be required to compensate a Lender pursuant to this Section 3.8 for any amounts incurred more than one hundred
eighty (180) days prior to the date that such Lender notifies Administrative Borrower of such Lender’s intention to claim compensation therefor; provided, that, if the circumstances giving rise to such claim have a
retroactive effect, then such one hundred eighty (180) day period shall be extended to include the period of such retroactive effect. The protection of this Section 3.8 shall be available to each Lender regardless of any possible
contention of invalidity or inapplicability with respect to the applicable law, regulation or condition. 

  
 61 

 (b) A certificate of such Lender setting forth such amount or amounts as shall be necessary
to compensate such Lender with respect to Section 3.8(a) when delivered to Administrative Borrower and Agent shall be conclusive absent manifest error. 
 3.9 Withholding Taxes. 
 Except as otherwise required by law and subject to
Section 16.3, each payment by the Borrowers or the Guarantors under this Agreement or the Other Documents shall be made without withholding or deduction for or on account of any present or future Taxes or Charges (other than Excluded Taxes). If
any such withholding or deduction for Taxes or Charges is so required, the Borrowers or Guarantors, as applicable, shall promptly upon becoming aware that such withholding or deduction is necessary, notify the Agent and shall make the withholding or
deduction, pay the amount withheld to the appropriate Governmental Body before penalties attach thereto or interest accrues thereon and except with respect to Excluded Taxes forthwith pay such additional amount as may be necessary to ensure that the
net amount actually received by Agent and each Lender free and clear of such taxes (including such taxes on such additional amount) is equal to the amount which that Agent or such Lender (as the case may be) would have received had such withholding
or deduction not been made. Within thirty (30) days of paying any amount withheld or deducted on account of tax, Administrative Borrower shall, or shall procure that the other relevant Borrower shall, deliver to the Agent evidence (reasonably
satisfactory to the Agent) that the appropriate payment has been paid to the relevant tax authority. If the Agent or any Lender pays any amount in respect of any such Taxes (other than Excluded Taxes), the Borrowers and Guarantors shall reimburse
the Agent or such Lender for that payment on demand in the currency in which such payment was made. If the Borrowers or Guarantors pay any such Taxes, it shall deliver official tax receipts evidencing that payment or certified copies thereof to the
Agent or Lender on whose account such withholding was made (with a copy to the Agent if not the recipient of the original) on or before the thirtieth (30th) day after payment. 

  
 62 

 4. GRANT OF SECURITY INTEREST; COLLATERAL COVENANTS. 

4.1 Security Interest in the Collateral. 
 To secure the prompt payment and performance of all of the Obligations to each Secured Party, each Loan Party hereby collaterally assigns, pledges and grants to Agent, for the ratable benefit of each
Secured Party, a continuing Lien in and to all of its Collateral, whether now owned or existing or hereafter acquired or arising and wheresoever located. Each Loan Party shall mark its books and records as may be necessary or appropriate to
evidence, protect and perfect Agent’s Lien and shall cause its financial statements, where applicable, to reflect such Lien. 
 4.2 Perfection of Security Interest. 
 (a) Each Loan Party shall take all
action that may be necessary or desirable, or that Agent may request in its Permitted Discretion, so as at all times to maintain the validity, perfection, enforceability and priority of Agent’s Lien in the Collateral to the extent required by
this Agreement or any Other Documents. 
 (b) Agent may, and each Loan Party hereby authorizes Agent to, at any time and from
time to time file in accordance with Section 9-509 of the UCC and with the PPSA, financing statements and amendments thereto that describe the Collateral as “all assets” or similar language of the applicable Loan Party and which
contain any other information required by the UCC or the PPSA (as applicable) for the sufficiency or filing office acceptance of any financing statements, continuation statements or amendments. Each Loan Party agrees to furnish any such information
to Agent promptly upon request. 
 (c) Each Loan Party shall, at any time and from time to time, take such commercially
reasonable steps as Agent may request in its Permitted Discretion to (i) obtain an acknowledgment, in form and substance reasonably satisfactory to Agent, of any bailee having possession of any of the Collateral, stating that the bailee holds
such Collateral for Agent, (ii) obtain “control” of any letter-of-credit rights, deposit accounts (other than Restricted Accounts) or electronic chattel paper (as such terms are defined in the UCC with corresponding provisions thereof
defining what constitutes “control” for such items of Collateral), and any investment property, securities entitlements, securities accounts, futures contracts, future accounts (as such terms are defined in the PPSA or the Securities
Transfer Act (British Columbia), as applicable, with corresponding provisions thereof defining what constitutes “control” for such items of Collateral), in each case, with any agreements establishing control to be in form and substance
reasonably satisfactory to Agent, and (iii) otherwise insure the continued perfection and priority of Agent’s Liens in any of the Collateral for the benefit of the Lenders and of its rights therein. If any Loan Party shall at any time,
acquire a “commercial tort claim” (as such term is defined in the UCC) in excess of $250,000, such Loan Party shall promptly notify Agent thereof in writing (which notice shall be deemed to be an update of Schedule 5.8(b)),
therein providing a reasonable description and summary thereof, and upon delivery thereof to Agent, such Loan Party shall be deemed to thereby have granted to Agent, for the ratable benefit of each Secured Party (and each Loan Party hereby grants to
Agent, for the ratable benefit of each Secured Party) a Lien in and to each such commercial tort claim and all proceeds thereof, all upon the terms of and governed by this Agreement to secure the prompt payment and performance of all of the
Obligations. 

  
 63 

 (d) Each Loan Party hereby confirms and ratifies all UCC and PPSA financing statements filed
by Agent with respect to such Loan Party on or prior to the date of the Agreement. 
 (e) All charges, expenses and fees Agent
may incur in doing any of the foregoing, and any taxes relating thereto, shall be charged to the Borrowers’ Account as a Revolving Advance and added to the Obligations, or, at Agent’s option, shall be paid by Loan Parties to Agent promptly
upon demand. 
 4.3 Preservation of Collateral. 
 Following the occurrence and during the continuance of an Event of Default, in addition to the rights and remedies set forth in Section 11.1, and subject to the terms of the Term Loan Intercreditor
Agreement, Agent: (a) may at any time take such steps as Agent deems necessary or appropriate to protect Agent’s Lien in and to preserve the Collateral, including, without limitation, the hiring of such security guards or the placing of
other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any Loan Party’s premises a custodian who shall have full authority to do all acts necessary to protect Agent’s interests in the
Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any Loan Party’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the
Collateral; (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any Loan Party’s owned or leased property; and (f) shall have a
non-exclusive, royalty-free, license to use each Loan Party’s Intellectual Property for the purposes of the completion, processing and sale of such Loan Party’s Inventory and other assets. At such time, each Loan Party shall cooperate
fully with all of Agent’s commercially reasonable efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct in connection therewith. All of Agent’s expenses of preserving the Collateral,
including, without limitation, any expenses relating to any actions by Agent described in this Section 4.3, may, at the election of the Agent, be charged to the Borrowers’ Account and added to the Obligations. 

4.4 Ownership and Location of Collateral. 
 (a) At the time the Collateral becomes subject to Agent’s Lien, each Loan Party shall be the sole owner of and fully authorized and able to sell, transfer, pledge and/or grant a first priority Lien
(other than with respect to the Term Loan Priority Collateral (subject to the Term Loan Intercreditor Agreement) and except for Permitted Encumbrances) the Collateral shall be free and clear of all Liens and encumbrances whatsoever. 

(b) Each Loan Party’s books and records, Equipment, Inventory and all other assets (other than (i) motor vehicles and
(ii) Equipment out for repair in the ordinary course of business) shall be located at one of the locations set forth on Schedule 4.4 (as such Schedule may from time to time be updated in accordance with Section 7.18) and shall
not be removed from such location(s) without the prior written consent of Agent. 

  
 64 

 4.5 Defense of Agent’s and Lenders’ Interests. 

Until all of the Obligations have been Paid in Full, Agent’s Liens in the Collateral shall continue in full force and effect. For so
long as Agent’s Liens in the Collateral continue in full force and effect, no Loan Party shall, without Agent’s prior written consent, pledge, assign, transfer, create, charge or suffer to exist a Lien upon any part of the Collateral,
except for Permitted Encumbrances. Each Loan Party shall defend Agent’s Liens in the Collateral against any and all Persons whatsoever (other than holders of Permitted Encumbrances). At any time following demand by Agent for payment of all
Obligations in accordance with Section 11.1, in addition to and not in limitation of Agent’s rights and remedies set forth in Section 11.1, and subject to the terms of the Term Loan Intercreditor Agreement: (a) Agent shall have
the right to take possession of the indicia of the Collateral and the Collateral, (b) Loan Parties shall, upon Agent’s demand, assemble the Collateral in the best manner possible and make it available to Agent at a place reasonably
convenient to Agent, and (c) upon demand by Agent each Loan Party shall, and Agent may, at its option, instruct all suppliers, carriers, forwarders, warehouses or others receiving or holding cash, checks, Inventory, documents or instruments of
such Loan Party to deliver same to Agent (or any Person designated by Agent) and/or subject to Agent’s order and if they shall come into any Loan Party’s possession, all such Collateral shall be held by such Loan Party in trust as
Agent’s trustee, and such Loan Party will immediately deliver such Collateral to Agent (or any Person designated by Agent) in their original form, together with any necessary endorsement. 

4.6 Books and Records. 
 Each Loan Party shall, and shall cause each of its Subsidiaries to, (a) keep proper books of record and account in which full, true and correct entries will be made of all dealings or transactions of
or in relation to its business and affairs; (b) set up on its books accruals with respect to all taxes, assessments, charges, levies and claims; and (c) on a reasonably current basis set up on its books, from its earnings, allowances
against doubtful Receivables, advances and investments and all other proper accruals (including without limitation by reason of enumeration, accruals for premiums, if any, due on required payments and accruals for depreciation, obsolescence, or
amortization of properties), which should be set aside from such earnings in connection with its business. All determinations pursuant to this subsection shall be made in accordance with, or as required by, GAAP consistently applied. 

4.7 Financial Disclosure. 
 Each Loan Party hereby irrevocably authorizes and directs all Accountants and auditors employed by such Loan Party at any time during the Term to exhibit and deliver to Agent copies of any of such Loan
Party’s and each of its Subsidiaries’ financial statements, trial balances or other accounting records of any sort in the Accountant’s or auditor’s possession, and to disclose to Agent any information such Accountants may have
concerning such Loan Party’s and each of its Subsidiaries’ financial status and business operations. Each Loan Party hereby authorizes all federal, state, provincial and municipal authorities to furnish to Agent copies of reports or
examinations relating to such Loan Party or to any of its Subsidiaries, whether made by such Loan Party or otherwise. Notwithstanding the foregoing authorization, so long as no Default or Event if Default is in existence, Agent will attempt to
obtain such information or materials directly from such Loan Party prior to obtaining such information or materials from such Accountants, auditors or such authorities. 

  
 65 

 4.8 Compliance with Laws. 

Each Loan Party shall, and shall cause each of its Subsidiaries to, comply in all respects with all acts, rules, regulations and orders of
any Governmental Body applicable to its respective Collateral or any part thereof or to the operation of such Person’s business the non-compliance with which could reasonably be expected to have, either individually or in the aggregate, a
Material Adverse Effect. Each Loan Party may, however, contest or dispute any acts, rules, regulations, orders and directions of those bodies or officials in any reasonable manner; provided, that, if as a result of such contest or
dispute commenced at the option of any Loan Party, any related Lien is inchoate or stayed and, at Agent’s option, sufficient Reserves shall be established to the satisfaction of Agent to protect Agent’s Lien in the Collateral. The
Collateral at all times shall be maintained in accordance in all material respects with the requirements of all insurance carriers which provide insurance with respect to the Collateral so that such insurance shall remain in full force and effect.

 4.9 Inspection of Premises/Appraisals. 
 At any time during the existence of an Event of Default, and otherwise at all reasonable times during normal business hours, Agent shall have the right, at Borrowers’ expense (subject to
Section 16.10(c)), (a) to audit, check, inspect and make abstracts and copies from each Loan Party’s books, records, audits, correspondence and all other papers relating to the Collateral and the operation of each Loan Party’s
business and (b) to enter, or to have their agents enter, upon any Loan Party’s premises at any time during business hours and at any other reasonable time, and from time to time, for the purpose of inspecting the Collateral (and/or with
respect to Agent (and Persons designated by Agent) appraising the Collateral) and any and all records pertaining thereto and the operation of such Loan Party’s business. From time to time as determined by Agent, Agent shall have the right to
conduct appraisals (or have other Persons selected by Agent conduct appraisals) of the Inventory, Equipment, Real Property and other Collateral, in each case, at all times subject to Section 16.10(c). 

4.10 Insurance. 
 Each Loan Party shall bear the full risk of any loss of any nature whatsoever with respect to the Collateral. At each Loan Party’s own cost and expense, each Loan Party shall, and shall cause each of
its Subsidiaries to, maintain insurance in amounts, types and with carriers in each case acceptable to Agent. Without limiting the foregoing, each Loan Party shall, and shall cause each of its Subsidiaries to, (a) keep all its insurable
properties insured against the hazards of fire, flood, those hazards covered by extended coverage insurance and such other hazards, and for such amounts, not less than as is customary in the case of companies engaged in businesses similar to such
Loan Party’s business, including, without limitation, business interruption insurance; (b) maintain liability insurance against claims for personal injury, death or property damage suffered by others; and (c) maintain all such
worker’s compensation or similar insurance as may be required under the laws of any state, province or jurisdiction in which Loan Party is engaged in business. Each Loan Party shall (i) furnish Agent with copies of all policies and
evidence of the maintenance of such policies required hereby upon the request of Agent and (ii) cause all such policies to include appropriate loss payable endorsements, and/or additional insured endorsements, in form and substance reasonably
satisfactory to Agent, providing with respect to loss payable endorsements that (A) all proceeds thereunder shall be payable to Agent, (B) no such insurance shall be affected by any act or neglect of the insured or owner of the property
described in such policy, and (C) that such policy and loss payable clauses may not be cancelled, amended or terminated unless at least thirty (30) days’ prior written notice is given to Agent (or such shorter period as Agent may
agree). If any insurance losses are paid by check, draft or other instrument payable to any Loan Party and Agent jointly, Agent may endorse such Loan Party’s name thereon and do such other things as Agent may deem advisable to reduce the same
to cash and apply the same in accordance with this Agreement. 

  
 66 

 4.11 Failure to Pay Insurance. 

If any Loan Party fails to obtain insurance as hereinabove provided, or to keep the same in force, Agent, at its option, may obtain such
insurance and pay the premium therefor for the Borrowers’ Account, and charge the Borrowers’ Account therefor and such expenses so paid shall be part of the Obligations. 

4.12 Payment of Taxes. 
 Each Loan Party shall, and shall cause each of its Subsidiaries to, pay, when due, all federal, state, provincial and other material Taxes and other Charges lawfully levied or assessed upon such Person or
any of the Collateral, except for those Taxes and Charges that are being contested in good faith by appropriate proceedings diligently pursued and available to such Loan Party, which proceedings (or orders entered in connection with such
proceedings) stay the forfeiture or sale of, or other enforcement against, the property subject to any such taxes, assessments, fees and other governmental charges and with respect to which adequate reserves have been set aside on the books of such
Loan Party in accordance with GAAP consistently applied. If any Tax or other Charges remain unpaid after the date fixed for their payment, or if any claim shall be made which, in Agent’s opinion, may possibly create a valid Lien on the
Collateral (which is not otherwise a Permitted Encumbrance), Agent may without notice to Loan Parties pay such Taxes or other Charges and each Loan Party hereby indemnifies and holds Agent and each Lender harmless in respect thereof. The amount of
any payment by Agent under this Section 4.12 may, at the election of Agent, be charged to the Borrowers’ Account and added to the Obligations and, until Loan Parties shall furnish Agent with an indemnity therefor (or supply Agent with
evidence satisfactory to Agent that due provision for the payment thereof has been made), Agent may hold without interest any balance standing to Loan Parties’ credit and Agent shall retain its Lien in any and all Collateral held by Agent.

 4.13 Payment of Leasehold Obligations. 
 Each Loan Party shall, and shall cause each of its Subsidiaries to, at all times pay, when and as due, its rental obligations under all leases under which it is a tenant, and shall otherwise comply, in
all material respects, with all other terms of such leases and keep them in full force and effect and, at Agent’s request will provide evidence of having done so, except, in each case, where the failure to do so could not reasonably be expected
to have, either individually or in the aggregate, a Material Adverse Effect. 

  
 67 

 4.14 Accounts and other Receivables. 

(a) Nature of Accounts. Each of the Accounts that Administrative Borrower or any Borrower reports as being an Eligible Account or
requests be treated as an Eligible Account shall (i) be a bona fide and valid Account representing a bona fide Indebtedness incurred by the Customer therein named, for a fixed sum as set forth in the invoice relating thereto (provided
immaterial or unintentional invoice errors shall not be deemed to be a breach hereof) with respect to an absolute sale or lease and delivery of Inventory upon stated terms of a Borrower, or work, labor or services theretofore rendered by a Borrower
as of the date each Account is created, (ii) be due and owing in accordance with the invoice (excepting immaterial invoice errors) evidencing such Accounts without dispute, setoff or counterclaim, except as may be stated on the Accounts
schedules delivered by Loan Parties to Agent (provided, that, immaterial errors in the Accounts schedules shall not be deemed to be a breach hereof), and (iii) satisfy each of the criteria set forth in the definition of
“Eligible Accounts” set forth in this Agreement to qualify as an Eligible Account. 
 (b) Solvency of
Customers. Each Customer, to the best of each Loan Party’s knowledge, as of the date each Account (that Administrative Borrower or any Borrower reports as being an Eligible Account or requests be treated as an Eligible Account) is created,
is and will be Solvent and able to pay all Accounts on which the Customer is obligated in full when due or with respect to such Customers of any Loan Party who are not Solvent such Loan Party has set up on its books and in its financial records bad
debt reserves adequate to cover such Accounts. 
 (c) Locations of Chief Executive Office. Each Loan Party’s chief
executive office is located at the addresses set forth on Schedule 4.14(c)) (as such schedule may from time to time be updated in accordance with Section 7.18). Until written notice is given to Agent by Administrative Borrower of
any other office at which any Loan Party keeps its records pertaining to Accounts and the other Receivables, all such records shall be kept at such executive office or otherwise as set forth on Schedule 4.14(c). 

(d) Collection of Accounts and other Receivables. Until any Loan Party’s authority to do so is terminated by Agent (which
notice of termination Agent may give at any time following the occurrence and during the continuance of an Event of Default), each Loan Party will, at such Loan Party’s sole cost and expense, collect all amounts received on Accounts and other
Receivables. From and after the occurrence and during the continuance of an Event of Default, upon Agent’s demand, each Loan Party shall deliver to Agent, in original form and on the date of receipt thereof, all checks, drafts, notes, money
orders, acceptances, cash and other evidences of Indebtedness at any time received by Loan Parties. 
 (e) Notification of
Assignment of Accounts and other Receivables; Verification. Whether or not an Event of Default exists, Agent shall have the right (i) to send notice of the assignment of, and Agent’s Lien in, the Accounts and other Receivables of each
Loan Party to any and all Customers, any other Person obligated on such Accounts and other Receivables or any third party holding or otherwise concerned with any of the Collateral (which notice may include a direction by Agent to make all payments
thereon to an account designated by Agent) and (ii) at any time, in the name of Agent, any designee of Agent or any Borrower or any other Loan Party, to verify the validity, amount or any other matter relating to any Accounts and other
Receivables of any Loan Party by mail, telephone or otherwise. Each Loan Party shall cooperate fully with Agent in an effort to facilitate and promptly conclude any such verification process. Following the occurrence and during the continuance of
any Event of Default, at its option, Agent shall have the exclusive right to collect the Accounts and other Receivables of each Loan Party, take possession of the Collateral, or both. In such case, Agent’s actual collection expenses, including,
but not limited to, stationery and postage, telephone and facsimile, secretarial and clerical expenses and the salaries of any collection personnel used for collection, may be charged to the Borrowers’ Account and added to the Obligations.

  
 68 

 (f) Power of Agent to Act on Loan Parties’ Behalf. Agent shall have the right to
receive, endorse, assign and/or deliver in the name of Agent or any Loan Party any and all checks, drafts and other instruments for the payment of money relating to the Accounts and other Receivables of each Loan Party, and each Loan Party hereby
waives notice of presentment, protest and non-payment of any instrument so endorsed. Each Loan Party hereby constitutes Agent or Agent’s designee as such Loan Party’s attorney with power (i) to endorse such Loan Party’s name upon
any notes, acceptances, checks, drafts, money orders or other evidences of payment or Collateral; (ii) upon the occurrence and during the continuance of an Event of Default, to sign such Loan Party’s name on any invoice or bill of lading
relating to any of the Accounts and other Receivables of each such Loan Party, drafts against Customers, assignments and verifications of Accounts and other Receivables of each such Loan Party; (iii) at any time, to send verifications of
Accounts and other Receivables of each such Loan Party to any Customer or Person; (iv) at any time, to sign such Loan Party’s name on all financing statements or any other documents or instruments deemed necessary or appropriate by Agent
to preserve, protect, or perfect Agent’s interest in the Collateral and to file same; (v) after the occurrence and during the continuance of an Event of Default, to demand payment of the Accounts and other Receivables of each such Loan
Party; (vi) after the occurrence and during the continuance of an Event of Default, to enforce payment of the Accounts and other Receivables of each such Loan Party by legal proceedings or otherwise; (vii) after the occurrence and during
the continuance of an Event of Default, to exercise all of Loan Parties’ rights and remedies with respect to the collection of the Accounts, Receivables and any other Collateral; (viii) after the occurrence and during the continuance of an
Event of Default, to settle, adjust, compromise, extend or renew the Accounts and other Receivables of each such Loan Party; (ix) after the occurrence and during the continuance of an Event of Default, to settle, adjust or compromise any legal
proceedings brought to collect Accounts and other Receivables of each such Loan Party; (x) after the occurrence and during the continuance of an Event of Default, to prepare, file and sign such Loan Party’s name on a proof of claim in
bankruptcy or similar document against any Customer or any other Person obligated with respect to an Account or other Receivable of each such Loan Party; (xi) to prepare, file and sign such Loan Party’s name on any notice of Lien,
assignment or satisfaction of Lien or similar document in connection with the Accounts and other Receivables of each such Loan Party; and (xii) after the occurrence and during the continuance of an Event of Default, to do all other acts and
things necessary to carry out this Agreement. All acts of said attorney or designee are hereby ratified and approved, and said attorney or designee shall not be liable for any acts of omission or commission nor for any error of judgment or mistake
of fact or of law, unless done maliciously or with gross (not mere) negligence, as determined pursuant to a final, non-appealable order of a court of competent jurisdiction; this power being coupled with an interest is irrevocable at all times until
all of the Obligations have been Paid in Full. Agent shall have the right at any time following the occurrence and during the continuance of an Event of Default, to change the address for delivery of mail addressed to any Loan Party to such address
as Agent may designate and to receive, open and dispose of all mail addressed to any Loan Party. 

  
 69 

 (g) No Liability. Neither Agent nor any Lender shall, under any circumstances or in
any event whatsoever (other than damages caused by Agent or any Lender’s gross (not mere) negligence or willful misconduct, as determined pursuant to a final, non-appealable order of a court of competent jurisdiction), have any liability for
any error or omission or delay of any kind occurring in the settlement, collection or payment of any of the Accounts, other Receivables or any instrument received in payment thereof, or for any damage resulting therefrom. Following the occurrence
and at any time during the continuance of an Event of Default, Agent may, without notice or consent from any Loan Party, sue upon or otherwise collect, extend the time of payment of, compromise or settle for cash, credit or upon any terms any of the
Accounts, other Receivables or any other securities, instruments or insurance applicable thereto and/or release any obligor thereof. Agent is authorized and empowered to accept following the occurrence and during the continuance of an Event of
Default the return of the goods represented by any of the Accounts and other Receivables, without notice to or consent by any Loan Party, all without discharging or in any way affecting any Loan Party’s liability hereunder. 

(h) Establishment of a Lockbox Account, Dominion Account; Cash Dominion. As of the Closing Date and at all times thereafter, each
Loan Party shall establish and maintain a lockbox account, dominion account or such other “blocked account” (together with the Cash Receipt Accounts and the Operating Accounts, collectively, the “Blocked Accounts”) with TD Bank
or, with Agent’s prior written consent, such banks as may be selected by each such Loan Party and reasonably acceptable to Agent (it being understood and agreed that, as of the Closing Date, the Existing Deposit Banks are reasonably acceptable
to Agent despite the fact that the deposit accounts maintained at such Existing Deposit Banks (the “Existing Deposit Accounts”) are not lockbox accounts, dominion accounts or “blocked accounts”). As of the Closing Date and at all
times thereafter, all proceeds of Collateral and all other cash and Cash Equivalents of each such Loan Party (other than amounts properly on deposit in Restricted Accounts) shall at all times be deposited by each Loan Party in the Blocked Accounts,
and Loan Parties shall (as agent and trustee for the Agent) cause each of their Customers and all other applicable Persons to at all times send payments on all Accounts and other Receivables of Loan Parties into the Blocked Accounts (it being
understood and agreed that, notwithstanding the foregoing, on or before the date that is ninety (90) days after the date hereof (or such later date as Agent shall agree in writing), all Customers of Borrowers shall be remitting all payments to
Existing Deposit Accounts maintained with Wells Fargo Bank, N.A. or Bank of America, N.A., or to a Blocked Account). If, for any reason any Customer makes payments on any Account or other Receivable directly to any Loan Party, such Loan Party shall
collect (as agent and trustee for the Agent) all such amounts and immediately pay all such amounts into a Blocked Account (it being understood and agreed that, notwithstanding the foregoing, on or before the date that is ninety (90) days after
the date hereof (or such later date as Agent shall agree in writing), all amounts shall be remitted to Existing Deposit Accounts maintained with Wells Fargo Bank, N.A. or Bank of America, N.A., or to a Blocked Account); provided,
however, that, until such payment into a Blocked Account or an Existing Deposit Account maintained with Wells Fargo Bank, N.A. or Bank of America, N.A., all moneys so received will be held upon trust for and promptly remitted to the
Agent. Each Loan Party shall instruct all of its Customers to make all payments into a Blocked Account (it being understood and agreed that, notwithstanding the foregoing, on or before the date that is ninety (90) days after the date hereof (or
such later date as Agent shall agree in writing), all Customers of Borrowers shall be remitting all payments to the Existing Deposit Accounts maintained with Wells Fargo Bank, N.A. or Bank of America, N.A., or to a Blocked Account). All of the
Blocked Accounts (but not the Restricted Accounts) shall be governed by “control” or other agreements in form and substance acceptable to Agent satisfactory to, among other things, establish Agent’s perfection and rights in such
Blocked Accounts or other accounts under the UCC, PPSA and other applicable law. All invoices for sales of Inventory or services by 

  
 70 

 
Loan Parties shall contain the address of the Blocked Accounts constituting Cash Receipt Accounts as the address for remittance of payment (it being understood and agreed that, notwithstanding
the foregoing, on or before the date that is ninety (90) days after the date hereof (or such later date as Agent shall agree in writing), all such invoices may contain the address of the Existing Deposit Accounts maintained with Wells Fargo
Bank, N.A. or Bank of America, N.A.). The “control” agreements covering the Blocked Accounts constituting Operating Accounts (other than Restricted Accounts) shall provide that (i) after delivery of a Control Notice (which may be
delivered by Agent upon the occurrence and during the continuance of an Event of Default), (A) such bank or other institution shall comply with the instructions given by Agent with respect to such Blocked Accounts and funds therein without
further consent by Loan Parties and (B) all amounts in such Blocked Accounts shall be transferred on a daily basis by such bank or other institution to the Payment Account or such other account as may be designated by Agent, and (ii) such
bank or other institution shall waive any offset rights against the funds so deposited into such Blocked Accounts, subject to exceptions to such waiver of offset rights as shall be reasonably acceptable to Agent. The “control” agreements
covering the Blocked Accounts constituting Cash Receipt Accounts shall provide that all amounts in such Cash Receipt Accounts shall be transferred on a daily basis by such bank or other institution to an Operating Account subject to a
“control” agreement. Neither Agent nor any Lender assumes any responsibility for any Blocked Account arrangement, including without limitation, any claim of accord and satisfaction or release with respect to deposits accepted by any bank
thereunder. Alternatively, upon the occurrence and during the continuance of an Event of Default, Agent may establish depository accounts (collectively, the “Depository Accounts”) in the name of Agent at a bank or banks for the deposit of
such funds and Loan Parties shall deposit all proceeds of Collateral or cause same to be deposited, in kind, in such Depository Accounts of Agent in lieu of depositing same to the Blocked Accounts. Notwithstanding the foregoing, no
“control” agreement shall be required for (1) Restricted Accounts and (2) any deposit accounts maintained at the Existing Deposit Banks so long as (w) the existing cash management arrangements at the Existing Deposit Banks
are terminated within ninety (90) days after the Closing Date (subject to Section 6.8), (x) with respect to all deposit accounts maintained at Wells Fargo Bank, N.A. (other that the deposit account set forth in clause (y) below),
Loan Parties shall, on each Business Day, remit all amounts in such deposit accounts directly to the Payment Account, (y) with respect to deposit account no. 2000026543086 maintained at Wells Fargo Bank, N.A., Loan Parties shall, on each
Business Day, remit all amounts in excess of $500,000 in such deposit account directly to the Payment Account, and (z) with respect to all lockbox and collection accounts maintained at Bank of America, N.A., Loan Parties shall, on each Business
Day, remit all amounts in excess of C$400,000 in such accounts directly to the Payment Account. 
 (i) Adjustments. No
Loan Party will, without Agent’s consent, compromise or adjust any Accounts or other Receivables (or extend the time for payment thereof) of any such Loan Party or accept any returns of merchandise or grant any additional discounts, allowances
or credits thereon except for those compromises, adjustments, returns, discounts, credits and allowances in the ordinary course of business of such Loan Party, as previously disclosed to Agent. 

4.15 Inventory. 
 All Inventory manufactured in the United States of America and held for sale or lease by any Loan Party, has been and will be produced by such Loan Party in accordance with the Federal Fair Labor
Standards Act of 1938, as amended, and all rules, regulations and orders thereunder. 

  
 71 

 4.16 Maintenance of Equipment. 

All Equipment used or useful in the conduct of any Loan Party’s business shall be maintained in good operating condition and repair
(reasonable wear and tear excepted) and all necessary replacements of and repairs thereto shall be made so that the value and operating efficiency of such Equipment shall be maintained and preserved (reasonable wear and tear excepted). Each Loan
Party shall use or operate any Equipment in compliance with Section 4.8. No Loan Party shall sell or otherwise Dispose of any of its Equipment, except to the extent set forth in Section 7.1. 

4.17 Exculpation of Liability. 
 Nothing herein contained shall be construed to constitute Agent or any Lender as any Loan Party’s agent for any purpose whatsoever, nor shall Agent or any Lender be responsible or liable for any
shortage, discrepancy, damage, loss or destruction of any part of the Collateral wherever the same may be located and regardless of the cause thereof (other than caused by Agent’s or any Lender’s gross (not mere) negligence or willful
misconduct, as determined pursuant to a final, non-appealable order of a court of competent jurisdiction). Neither Agent nor any Lender, whether by anything herein or in any assignment or otherwise, assumes any of Loan Party’s obligations under
any contract or agreement to which it is a party, and neither Agent nor any Lender shall be responsible in any way for the performance by Loan Party of any of the terms and conditions thereof. 

4.18 Environmental Matters. 
 (a) Loan Parties shall ensure any Real Property remains in compliance with all Environmental Laws and they shall not place or permit to be placed any Hazardous Substances on any such Real Property, except
as not prohibited by applicable law or appropriate Governmental Body and except where any such noncompliance or placement could not reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect. 

(b) Loan Parties shall assure and monitor continued compliance with all applicable Environmental Laws, except where any failure to comply
could reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect. 
 (c) Loan Parties
shall (i) employ in connection with the use of any Real Property appropriate technology necessary to maintain compliance with any applicable Environmental Laws, except where any such noncompliance could not reasonably be expected to have,
either individually or in the aggregate, a Material Adverse Effect and (ii) dispose of any and all Hazardous Waste generated at such Real Property only at facilities and with carriers that maintain valid permits under RCRA and any other
applicable Environmental Laws, except where the failure to do so could not reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect. Loan Parties shall use their best efforts to obtain certificates of
disposal, such as hazardous waste manifest receipts, from all treatment, transport, storage or disposal facilities or operators employed by Loan Parties in connection with the transport or disposal of any Hazardous Waste generated at such Real
Property, except where the failure to do so could not reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect. 

  
 72 

 (d) In the event any Loan Party obtains, gives or receives notice of any Release or threat
of Release of a reportable quantity of any Hazardous Substances at any Real Property (any such event being hereinafter referred to as a “Hazardous Discharge”) or receives any notice of violation, request for information or notification
that it is potentially responsible for investigation or cleanup of environmental conditions at such Real Property, demand letter or complaint, order, citation, or other written notice with regard to any Hazardous Discharge or violation of
Environmental Laws affecting such Real Property or any Loan Party’s interest therein (any of the foregoing is referred to herein as an “Environmental Complaint”) from any Person, including any state agency responsible in whole or in
part for environmental matters in the state in which such Real Property is located or the United States Environmental Protection Agency (any such Person hereinafter the “Authority”), then the Borrowers shall promptly (but in any case
within five (5) Business Days) give written notice of same to Agent detailing facts and circumstances of which any Loan Party is aware giving rise to the Hazardous Discharge or Environmental Complaint. Such information is to be provided to
allow Agent to protect its Lien in such Real Property and is not intended to create nor shall it create any obligation upon Agent or any Lender with respect thereto. 
 (e) Loan Parties shall respond promptly to any Hazardous Discharge or Environmental Complaint and take all necessary action in order to safeguard the health of any Person and to avoid subjecting the
Collateral or any Real Property to any Lien, except where the failure to do so could not reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect. 

(f) During the continuation of an Event of Default, promptly upon the written request of Agent, Loan Parties shall provide Agent, at Loan
Parties’ expense, with an environmental site assessment or environmental audit report prepared by an environmental engineering firm acceptable in the reasonable opinion of Agent, to assess with a reasonable degree of certainty the existence of
a Hazardous Discharge and the potential costs in connection with abatement, cleanup and removal of any Hazardous Substances found on, under, at or within any Real Property. 
 (g) Loan Parties shall defend and indemnify Agent and Lenders and hold Agent, Lenders and their respective employees, agents, directors and officers harmless from and against all loss, liability, damage
and expense, claims, costs, fines and penalties, including attorney’s fees, suffered or incurred by Agent or Lenders under or on account of any Environmental Laws, including, without limitation, the assertion of any Lien thereunder, with
respect to any Hazardous Discharge, the presence of any Hazardous Substances affecting any Real Property, whether or not the same originates or emerges from such Real Property or any contiguous real estate, except to the extent such loss, liability,
damage and expense is attributable to any Hazardous Discharge resulting from actions on the part of Agent or any Lender caused by their gross (not mere) negligence or willful misconduct, as determined pursuant to a final, non-appealable order of a
court of competent jurisdiction. Loan Parties’ obligations under this Section 4.18 shall arise upon the discovery of the presence of any Hazardous Substances at Real Property, whether or not any federal, state, provincial or local
environmental agency has taken or threatened any action in connection with the presence of any Hazardous Substances. Loan Parties’ obligation and the indemnifications hereunder shall survive the termination of this Agreement. 

  
 73 

 (h) For purposes of Sections 4.18 and 5.7, all references to any Real Property shall be
deemed to include all of Loan Parties’ and their respective Subsidiaries’ right, title and interest in and to their respective owned and leased premises. 
 4.19 Financing Statements. 
 As of the Closing Date, except for the
financing statements filed by Agent and the other financing statements described on Schedule 7.2 (if any), no financing statement covering any of the Collateral or any proceeds thereof is on file in any public office. 

5. REPRESENTATIONS AND WARRANTIES. 
 Each Loan Party represents and warrants as follows: 
 5.1 Authority, Etc.

 Each Loan Party has the requisite limited liability company or corporate power and authority and legal right to enter into
this Agreement and the Other Documents and to perform all its respective Obligations hereunder and thereunder. The execution, delivery and performance of this Agreement and of the Other Documents (a) are within such Loan Party’s limited
liability company, partnership or corporate powers, as applicable, have been duly authorized, are not in contravention of law or the terms of such Loan Party’s certificate of formation, limited liability company agreement, certificate or
articles of incorporation, by-laws, partnership agreement or other applicable documents relating to such Loan Party’s formation and governance or to the conduct of such Loan Party’s business or of any material agreement or undertaking to
which such Loan Party is a party or by which such Loan Party is bound, and (b) will not conflict with nor result in any breach in any of the provisions of or constitute a default under or result in the creation of any Lien except Permitted
Encumbrances upon any asset of such Loan Party under the provisions of any agreement or instrument to which such Loan Party or its property is a party or by which it may be bound. The execution, delivery, and performance by each Loan Party of this
Agreement and the Other Documents to which such Loan Party is a party and the consummation of the transactions contemplated by this Agreement and the Other Documents do not and will not require any registration with, Consent, or approval of, or
notice to, or other action with or by, any Government Body, other than Consents or approvals that have been obtained or waived and that are still in force and effect or complied with, except for filings and recordings with respect to the Collateral
to be made, or otherwise delivered to the Agent for filing or recordation, as of the Closing Date. This Agreement and each Other Document has been duly executed and delivered by each Loan Party that is a party thereto and is a legally valid and
binding obligation of such Loan Party, enforceable against such Loan Party in accordance with its respective terms, except as enforcement may be limited by equitable principles or by bankruptcy, insolvency, reorganization, moratorium, or similar
laws relating to or limiting creditors’ rights generally. 

  
 74 

 5.2 Formation and Qualification. 

(a) Each Loan Party is duly formed or incorporated and in good standing under the laws of its respective state, province or other
jurisdiction of organization or incorporation listed on Schedule 5.2(a) (as such schedule may from time to time be updated in accordance with Section 7.18) and each Loan Party is qualified to do business and is in good standing in
the states, provinces and other jurisdictions listed with respect to that Loan Party on Schedule 5.2(a) (as such schedule may from time to time be updated in accordance with Section 7.18), which constitute all states, provinces and
other jurisdictions in which qualification and good standing are necessary for such Loan Party to conduct its business and own its property and where the failure to so qualify could reasonably be expected to have, either individually or in the
aggregate, a Material Adverse Effect. The state or provincial organizational number of each Loan Party is set forth on Schedule 5.2(a) (as such schedule may from time to time be updated in accordance with Section 7.18). Each Loan
Party has delivered to Agent true and complete copies of its certificate of formation, limited liability company agreement, certificate of incorporation, by-laws, partnership agreement or other applicable documents relating to such Loan Party’s
formation and governance, as the case may be, and will promptly notify Agent of any amendment or changes thereto. 
 (b) All of
the Subsidiaries of each Loan Party are listed on Schedule 5.2(b) (as such schedule may from time to time be updated in accordance with Section 7.12(a)). 
 5.3 Survival of Representations and Warranties. 
 All representations and
warranties of such Loan Party contained in this Agreement and the Other Documents shall be true at the time of such Loan Party’s execution of this Agreement and the Other Documents, and shall survive the execution, delivery and acceptance
thereof by the parties thereto and the closing of the transactions described therein or related thereto. 
 5.4 Tax
Returns. 
 Each Loan Party’s federal tax identification number (to the extent applicable) is set forth on
Schedule 5.4. Except as otherwise expressly permitted by this Agreement, each Loan Party and each of its Subsidiaries has (a) filed all federal and all other material state, provincial, local and other tax returns, reports and
statements, including information returns, it is required by law to file and (b) paid all federal and all other material state, provincial, local and other Taxes that are due and payable with respect thereto or otherwise owing. No federal or
any other material state, provincial, local or other income tax return of any Loan Party or Subsidiary that has been filed is known by any Loan Party to be under examination as of the Closing Date. All federal and all other material income tax
returns have been timely filed as of the Closing Date. The provisions for Taxes on the books of each Loan Party and each of its Subsidiaries are adequate in all material respects for all years not closed by applicable statutes, and for its current
fiscal year, and no Loan Party nor any of its Subsidiaries has any knowledge of any material deficiency or additional assessment in connection therewith not provided for on its books. 

5.5 Financial Statements. 
 (a) The pro forma balance sheet of Loan Parties and their Subsidiaries on a consolidated basis (the “Pro Forma Balance Sheet”) furnished to Agent on the Closing Date reflects the consummation of
the transactions contemplated under this Agreement and the Related Transactions and is accurate, complete and correct in all material respects and fairly reflects the financial condition of Loan Parties and their Subsidiaries on a consolidated basis
as of the Closing Date after giving effect to the transactions under this Agreement and the Related Transactions, and has been prepared in accordance with GAAP, consistently applied. 

  
 75 

 (b) The projections, dated March 30, 2012, for the fiscal years ending 2012 through
2017 of Loan Parties and their Subsidiaries on a consolidated basis and their projected balance sheets as of the Closing Date were prepared by a Responsible Officer of Administrative Borrower and are based on underlying assumptions which Loan
Parties believe provide a reasonable basis for the projections contained therein in light of conditions and facts known to Loan Parties at the time such projections were made and reflect Loan Parties’ good faith judgment. 

(c) The consolidated balance sheets of Loan Parties, their Subsidiaries and such other Persons described therein as of December 31,
2011 and the related statements of income, changes in stockholders’ equity, and changes in cash flow for the period ended on such date, all accompanied by reports thereon containing opinions without qualification by independent certified public
accountants, copies of which have been delivered to Agent, have been prepared in accordance with GAAP consistently applied (except for changes in application in which such accountants concur and present fairly the financial position of Loan Parties
and their Subsidiaries at such date and the results of their operations and changes in stockholders’ equity and cash flow for such period) and fairly reflects the financial condition of Loan Parties, their Subsidiaries and such other Persons on
a consolidated basis as of the date thereof. 
 (d) The consolidated balance sheets of Loan Parties, their Subsidiaries and such
other Persons described therein as of March 31, 2012 and the related statements of income, changes in stockholders’ equity, and changes in cash flow for the period ended on such date, copies of which have been delivered to Agent, have been
prepared in accordance with GAAP, consistently applied and such balance sheet presents fairly the financial condition of Loan Parties, their Subsidiaries and such other Persons on a consolidated basis as of such date, subject to normal year-end
audit adjustments and absence of footnotes, the statement of cash flows and the statement of changes in shareholders’ equity. 
 (e) Since December 31, 2011, there has been no change in the condition, financial or otherwise, of any Borrower (individually), or Loan Parties and their Subsidiaries taken as a whole, except changes
which could not reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect. 
 5.6
Corporate Name. 
 The exact legal name of each Loan Party is set forth in the first paragraph to this Agreement (or, if such
Loan Party is not listed in such first paragraph, such exact legal name is set forth on Schedule 5.6 (as such schedule may from time to time be updated in accordance with Section 7.18)). No Loan Party has been known by any other
corporate, limited liability company or partnership name in the past five (5) years and no Loan Party sells Inventory or has submitted tax returns under any other name except as set forth on Schedule 5.6 (as such schedule may from
time to time be updated in accordance with Section 7.18), nor has any Loan Party been the surviving corporation of a merger, amalgamation or consolidation or acquired all or substantially all of the assets of any Person or has acquired any
assets of any Person outside the ordinary course of business during the preceding five (5) years except as set forth on Schedule 5.6 (as such schedule may from time to time be updated in accordance with Section 7.18).

  
 76 

 5.7 O.S.H.A. and Environmental Compliance. 

(a) Each Loan Party and each of their Subsidiaries has duly complied, and each of their facilities, businesses, assets, properties and
leaseholds are in compliance, in all material respects with the provisions of the Federal Occupational Safety and Health Act, RCRA and any other applicable Environmental Laws; there have been no outstanding citations, notices or orders of
non-compliance issued to any Loan Party or any of their Subsidiaries or relating to its business, assets, property or leaseholds under any such laws, rules or regulations, except as could not reasonably be expected to have, either individually or in
the aggregate, a Material Adverse Effect. 
 (b) Each Loan Party and each of their Subsidiaries has been issued all required
federal, state, provincial and local licenses, certificates or permits relating to all applicable Environmental Laws, except as could not reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect. 

(c) (i) There are no visible signs of releases, spills, discharges, leaks or disposal (each, a “Release”) of Hazardous
Substances at, upon, under or within any Real Property or any premises leased by any Loan Party or any of their Subsidiaries; (ii) there are no underground storage tanks or polychlorinated biphenyls on the Real Property or any premises leased
by any Loan Party or any of their Subsidiaries; (iii) neither the Real Property nor any premises leased by any Loan Party or any of their Subsidiaries has ever been used as a treatment, storage or disposal facility of Hazardous Waste; and
(iv) no Hazardous Substances are present on the Real Property or any premises leased by any Loan Party or any of their Subsidiaries, excepting such quantities as are handled in accordance with all applicable manufacturer’s instructions and
governmental regulations and in proper storage containers and as are necessary for the operation of the commercial business of any Loan Party or any of their Subsidiaries or of their respective tenants, in each case under clauses (c)(i), (ii),
(iii) and (iv), except as could not reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect. 
 5.8 Solvency; No Litigation, Violation of Law; No ERISA Issues. 
 (a) After
giving effect to the transactions contemplated by this Agreement and the Related Transactions, each Borrower is Solvent and Loan Parties and their Subsidiaries taken as a whole are Solvent. 

(b) No Loan Party nor any of their Subsidiaries has (i) except as disclosed in Schedule 5.8(b), any pending (or, to the
knowledge of any Loan Party, threatened in writing) litigation, arbitration, actions or proceedings which involve the possibility of having a Material Adverse Effect, (ii) except as disclosed in Schedule 5.8(b), as of the Closing
Date, any pending (or, to the knowledge of any Loan Party, threatened in writing) litigation, arbitration, actions or proceedings which involve the possibility of having liability in excess of $250,000, (iii) except as disclosed in
Schedule 5.8(b) (as such schedule may from time to time be updated by Administrative Borrower providing written notice to Agent of any new commercial tort claims reasonably estimated to exceed $250,000), any commercial tort claims, and
(iv) except as disclosed in Schedule 5.8(b), as of the Closing Date, any Money Borrowed other than the Obligations. 

  
 77 

 (c) No Loan Party nor any of their Subsidiaries is in violation of any applicable statute,
regulation or ordinance in any respect which could reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect, nor is any Loan Party or any of their Subsidiaries in violation of any order of any court or
Governmental Body which could reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect. 
 (d) Except with respect to Multiemployer Plans, each plan that is intended to qualify under Section 401 of the Code has been determined by the IRS to qualify under Section 401 of the Code, the
trusts created thereunder have been determined to be exempt from tax under the provisions of Section 501 of the Code, and nothing has occurred that would cause the loss of such qualification or tax exempt status. Each Plan is in compliance with
the applicable provisions of ERISA and the Code, except to the extent that the failure to comply, individually or in the aggregate, could not reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect. Neither
any Loan Party nor ERISA Affiliate has failed to make any material contribution or pay any material amount due as required by either Section 412 of the Code or Section 302 of ERISA or the terms of any such Plan. Neither any Loan Party nor
ERISA Affiliate has engaged in a “prohibited transaction,” as defined in Section 406 of ERISA and Section 4975 of the Code, in connection with any Plan, that would subject any Loan Party to a material tax on prohibited
transactions imposed by Section 502(i) of ERISA or Section 4975 of the Code. Except as set forth in Schedule 5.8(d): (i) no Title IV Plan has any Unfunded Pension Liability; (ii) no ERISA Event with respect to any
Title IV Plan has occurred or is reasonably expected to occur; (iii) there are no pending, or to the knowledge of any Loan Party, threatened claims (other than claims for benefits in the normal course), sanctions, actions or lawsuits, asserted
or instituted against any Title IV Plan or any Person as fiduciary or sponsor of any Title IV Plan; (iv) no Loan Party or ERISA Affiliate has incurred or reasonably expects to incur any liability as a result of a complete or partial withdrawal
from a Multiemployer Plan; (v) within the last five (5) years no Title IV Plan of any Loan Party or ERISA Affiliate has been terminated, whether or not in a “standard termination” as that term is used in Section 4041(b)(1)
of ERISA, nor has any Title IV Plan of any Loan Party or any ERISA Affiliate (determined at any time within the last five (5) years) with Unfunded Pension Liabilities been transferred outside of the “controlled group” (within the
meaning of Section 4001(a)(14) of ERISA) of any Loan Party or ERISA Affiliate (determined at such time); (vi) except in the case of any ESOP, Equity Interests of all Loan Parties and their ERISA Affiliates makes up, in the aggregate, no
more than ten (10%) percent of fair market value of the assets of any Title IV Plan measured on the basis of fair market value as of the latest valuation date of any Title IV Plan; and (vii) no liability under any Title IV Plan has been
satisfied with the purchase of a contract from an insurance company that is not rated AAA by the Standard & Poor’s Corporation or an equivalent rating by another nationally recognized rating agency. 

  
 78 

 5.9 Patents, Trademarks, Copyrights and Licenses. 

All patents, patent applications, trademarks, trademark applications, service marks, service mark applications, copyrights, copyright
applications, design rights, trade names, assumed names, trade secrets and licenses owned or utilized by any Loan Party or any of their Subsidiaries are set forth on Schedule 5.9 (as such schedule may from time to time be updated by
Administrative Borrower providing written notice to Agent of any newly acquired Intellectual Property rights, so long as Loan Parties have taken (or caused to be taken) all steps required by Agent to perfect Agent’s Lien therein), are valid and
have been duly registered or filed with all appropriate Governmental Body and constitute all of the Intellectual Property rights which are necessary for the operation of its business; there is no objection to or pending challenge to the validity of
any such material patent, trademark, copyright, design right, trade name, trade secret or license and no Loan Party nor any Subsidiary of any Loan Party is aware of any grounds for any challenge. Each patent, patent application, patent license,
trademark, trademark application, trademark license, service mark, service mark application, service mark license, copyright, copyright application and copyright license owned or held by any Loan Party or any such Subsidiary and all trade secrets
used by any Loan Party or any such Subsidiary consist of original material or property developed by such Loan Party or such Subsidiary or was lawfully acquired by such Loan Party or such Subsidiary from the proper and lawful owner thereof. Each of
such items has been maintained so as to preserve the value thereof from the date of creation or acquisition thereof. With respect to all software used by any Loan Party, such Loan Party is in possession of all source and object codes related to each
piece of software or is the beneficiary of a source code escrow agreement, each such source code escrow agreement being listed on Schedule 5.9 (as such schedule may from time to time be updated by Administrative Borrower providing
written notice to Agent of any newly acquired Intellectual Property rights, so long as Loan Parties have taken (or caused to be taken) all steps required by Agent with respect thereto). 

5.10 Licenses and Permits. 
 Each Loan Party and each Subsidiary of each Loan Party (a) is in compliance with and (b) has procured and is now in possession of, all material licenses or permits required by any applicable
federal, state, provincial, local or other law or regulation for the operation of its business in each jurisdiction wherein it is now conducting or proposes to conduct business and where the failure to procure such licenses or permits could
reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect. 
 5.11 No Contractual
Default. 
 No Loan Party is in default in the payment or performance of any of its contractual obligations with respect to
which a default thereunder could be reasonably expected to have, either individually or in the aggregate, a Material Adverse Effect. 
 5.12 No Burdensome Restrictions/No Liens. 
 No Loan Party nor any Subsidiary
of any Loan Party is party to any contract or agreement the performance of which could reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect. No Loan Party nor any Subsidiary of any Loan Party has agreed
or consented to cause or permit in the future (upon the happening of a contingency or otherwise) any of its property, whether now owned or hereafter acquired, to be subject to a Lien which is not a Permitted Encumbrance. 

  
 79 

 5.13 No Labor Disputes. 

No Loan Party nor any Subsidiary of any Loan Party is involved in any labor dispute; there are no strikes or walkouts or union
organization of any Loan Party’s or any of such Subsidiary’s employees in existence or threatened in writing and no labor contract is scheduled to expire during the Term other than as set forth on Schedule 5.13 (as such
schedule may from time to time be updated by Administrative Borrower providing written notice to Agent of any newly arising item, so long as (i) Loan Parties have taken (or caused to be taken) all steps reasonably required by Agent with respect
thereto and (ii) such items could not reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect). 
 5.14 Margin Regulations. 
 No Loan Party nor any Subsidiary of any Loan
Party is engaged, nor will it engage, principally or as one of its important activities, in the business of extending credit for the purpose of “purchasing” or “carrying” any “margin stock” within the meaning of the
quoted term under Regulation U of the Board of Governors of the Federal Reserve System as now and from time to time hereafter in effect. No part of the proceeds of any Advance will be used for “purchasing” or “carrying”
“margin stock” as defined in Regulation U of such Board of Governors. 
 5.15 Investment Company Act.

 No Loan Party nor any Subsidiary of any Loan Party is an “investment company” registered or required to be
registered under the Investment Company Act of 1940, as amended, nor is it controlled by such a company. 
 5.16
Disclosure. 
 No representation or warranty made by or on behalf of any Loan Party or any Subsidiary of any Loan Party in
this Agreement, any Other Document or in any financial statement, report, certificate or any other document furnished in connection herewith and no information at any time furnished by or on behalf of any Loan Party or any Subsidiary of any Loan
Party to Agent or any Lender pursuant hereto or in connection herewith contains any untrue statement of a material fact or omits to state any material fact necessary to make the statements herein or therein not misleading in light of the
circumstances under which they were made. 
 5.17 Real Property. 

Each Loan Party and each of its Subsidiaries owns record title in fee simple or the leasehold interest to the Real Property described on
Schedule R-1 (as such Schedule may from time to time be updated by written notice from Administrative Borrower to Agent, so long as Loan Parties have taken (or caused to be taken) all steps reasonably required by Agent with respect
thereto), free and clear of all Liens, except Permitted Encumbrances. The Real Property described on Schedule R-1 (as such Schedule may from time to time be updated by written notice from Administrative Borrower to Agent, so long as Loan
Parties have taken (or caused to be taken) all steps reasonably required by Agent with respect thereto) constitutes all of the Real Property of Loan Parties. 
 5.18 Hedging Agreements. 
 No Loan Party nor any Subsidiary of any Loan
Party is a party to any Hedging Agreement as of the Closing Date. 

  
 80 

 5.19 Conflicting Agreements. 

No provision of any mortgage, indenture, contract, agreement, judgment, decree or order binding on any Loan Party or affecting the
Collateral conflicts with, or requires any Consent which has not already been obtained, or would in any way prevent the execution, delivery or performance of the terms of this Agreement or the Other Documents. 

5.20 Business and Property of Loan Parties. 
 Upon and after the Closing Date, Loan Parties and their Subsidiaries do not propose to engage in any business other than as currently conducted and related activities necessary to conduct the foregoing.
Each Loan Party and each Subsidiary of a Loan Party owns or leases all the property and possesses all of the rights and consents necessary for the conduct of the business of such Loan Party and such Subsidiary except as could not reasonably be
expected to have, either individually or in the aggregate, a Material Adverse Effect. 
 5.21 Material Contracts.

 Except for the Related Agreements and the other agreements set forth on Schedule 5.21 (collectively with the
Related Agreements, the “Material Contracts”, as such schedule may from time to time be updated by Administrative Borrower providing written notice to Agent of any new contracts, so long as Loan Parties have taken (or caused to be taken)
all steps required by Agent with respect thereto), as of the Closing Date there are no (a) employment agreements covering the management of any Loan Party or any Subsidiary, (b) collective bargaining agreements or other labor agreements
covering any employees of any Loan Party or any Subsidiary, (c) agreements for managerial, consulting or similar services to which any Loan Party or any Subsidiary is a party or by which it is bound, (d) agreements regarding any Loan Party
or any Subsidiary, its assets or operations or any investment therein to which any of its equity holders is a party, (e) patent licenses, trademark licenses, copyright licenses or other lease or license agreements in respect of intellectual
property to which any Loan Party or any Subsidiary is a party, either as lessor or lessee, or as licensor or licensee, (f) distribution, marketing or supply agreements to which any Loan Party or any Subsidiary is a party, (g) customer
agreements to which any Loan Party or any Subsidiary is a party, (h) real estate leases to which any Loan Party or any Subsidiary is a party, (in each case with respect to any agreement of the type described in the preceding clauses (a), (b),
(c), (d), (e), (f), (g) and (h) requiring payment of more than $250,000 in the aggregate in any year), (i) partnership agreements to which any Loan Party or any Subsidiary is a partner, limited liability company agreements to which
any Loan Party or any Subsidiary is a member or manager, or joint venture agreements to which any Loan Party or any Subsidiary is a party, or (j) any other agreements or instruments to which any Loan Party or any Loan Party is a party the
breach, nonperformance or cancellation of which, would reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect. The consummation of the transactions contemplated by this Agreement and the Other Documents
and the other Related Agreements will not give rise to a right of termination in favor of any party to any Material Contract which would reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect. Each
Material Contract is in full force and effect and no defaults enforceable against any Loan Party or any Subsidiary exist thereunder, except as could not reasonably be expected to have, either individually or in the aggregate, a Material Adverse
Effect. No Loan Party nor any Subsidiary of any Loan Party has received notice from any party to any Material Contract stating that it intends to terminate or amend such contract, except to the extent such termination could not reasonably be
expected to have, either individually or in the aggregate, a Material Adverse Effect. 

  
 81 

 5.22 Capital Structure. 

Schedule 5.22 sets forth the authorized Equity Interests, and owner thereof, of each of Loan Parties and each of their
Subsidiaries as of the Closing Date. All of the Equity Interests of each of Loan Parties (other than Parent) and each of their Subsidiaries are owned directly or indirectly by one of the Borrowers. All issued and outstanding Equity Interests of each
of Loan Parties and each of their Subsidiaries are duly authorized and validly issued, fully paid and non-assessable, and such Equity Interests were issued in compliance with all applicable laws. All issued and outstanding Equity Interests of each
Loan Party and each of their Subsidiaries are free and clear of all Liens other than Permitted Encumbrances and the Lien in favor of Agent for the benefit of Agent and Lenders. The identity of the holders of the Equity Interests of each of the Loan
Parties and each of their Subsidiaries and the percentage of their fully diluted ownership of the Equity Interests of each of Loan Parties and each of their Subsidiaries as of the Closing Date is set forth on Schedule 5.22. No shares of
the Equity Interests of any Loan Party or any of their Subsidiaries, other than those described above, are issued and outstanding as of the Closing Date. As of the Closing Date there are no preemptive or other outstanding rights, options, warrants,
conversion rights or similar agreements or understandings for the purchase or acquisition from any Loan Party or any of their Subsidiaries of any Equity Interests of any such entity. 

5.23 Bank Accounts, Security Accounts, Etc. 
 No Loan Party has any bank accounts, deposit accounts, investments accounts, securities accounts or any other similar accounts other than the accounts set forth Schedule 5.23 (as such Schedule
may from time to time be updated by Administrative Borrower delivering a written update thereto to Agent, so long as such updates are approved by Agent and Loan Parties take all action required by Section 4.14(h) with respect thereto). The
purpose and type of each such account is specified on Schedule 5.23. 

  
 82 

 5.24 Related Agreements. 

Administrative Borrower has furnished Agent a true and correct copy of each the Related Agreements, along with all agreements, side
letters and other documents executed by any Loan Party, Subsidiary or Affiliate thereof in connection therewith. Each of Loan Parties and their respective Subsidiaries and, to Loan Party’s knowledge, each other party to the Related Agreements,
has duly taken all necessary organizational action to authorize the execution, delivery and performance of the Related Agreements and the consummation of transactions contemplated thereby. As of the Closing Date, the Related Transactions have been
consummated (or are being consummated substantially contemporaneously with the initial credit extension hereunder) in accordance with the terms of the Related Agreements. The Related Transactions will comply with all applicable legal requirements,
and all necessary Consents required to be obtained by a Loan Party or a Subsidiary thereof and, to each Loan Party’s knowledge, each other party to the Related Agreements in connection with the Related Transactions will be, prior to
consummation of the Related Transactions, duly obtained and will be in full force and effect. As of the date of the Related Agreements, all applicable waiting periods with respect to the Related Transactions will have expired without any action
being taken by any competent Governmental Body which restrains, prevents or imposes material adverse conditions upon the consummation of the Related Transactions. The execution and delivery of the Related Agreements did not, and the consummation of
the Related Transactions will not, violate any statute or regulation of the United States (including any securities law), Canada or of any state, province or other applicable jurisdiction, or any order, judgment or decree of any court or
Governmental Body binding on any Loan Party or Subsidiary or, to each Loan Party’s knowledge, any other party to the Related Agreements, or result in a breach of, or constitute a default under, any material agreement, indenture, instrument or
other document, or any judgment, order or decree, to which any Loan Party or Subsidiary is a party or by which any Loan Party or Subsidiary is bound or, to each Loan Party’s knowledge, to which any other party to the Related Agreements is a
party or by which any such party is bound. No statement or representation made in the Related Agreements by any Loan Party or Subsidiary or, to Loan Party’s knowledge, any other Person, contains any untrue statement of a material fact or omits
to state any material fact required to be stated therein or necessary in order to make the statements made therein, in light of the circumstances under which they are made, not misleading as of the time that such statement or representation is made.
As of the Closing Date and any other date on which such representations and warranties are otherwise remade or deemed remade hereunder, (a) each of the representations and warranties contained in the Related Agreements made by a Loan Party or
any Subsidiary is true and correct in all material respects and (b) to each Loan Party’s knowledge, each of the representations and warranties contained in the Related Agreements made by any Person other than a Loan Party is true and
correct in all material respects. 
 5.25 OFAC. 
 None of Borrower, any Subsidiary of Borrower or any Affiliate of Borrower: (a) is a Sanctioned Person, (b) has more than ten (10%) percent of its assets in Sanctioned Entities or
(c) derives more than ten (10%) percent of its operating income from investments in, or transactions with Sanctioned Persons or Sanctioned Entities. The proceeds of any Loan will not be used and have not been used to fund any operations
in, finance any investments or activities in, or make any payments to, a Sanctioned Person or a Sanctioned Entity. 
 6. AFFIRMATIVE
COVENANTS. 
 Each Loan Party shall at all times until all of the Obligations have been Paid in Full: 

6.1 Payment of Fees. 
 Promptly following demand, pay to Agent all usual and customary fees and expenses which Agent incurs in connection with (a) the forwarding of Advance proceeds and (b) the establishment and
maintenance of any Blocked Accounts or Depository Accounts as provided for in Section 4.14(h). Agent may, without making demand, charge the Borrowers’ Account for all such fees and expenses. 

  
 83 

 6.2 Conduct of Business; Compliance with Laws and Maintenance of Existence and
Assets. 
 Conduct, and cause each Subsidiary of each Loan Party to conduct, continuously and operate actively its business
according to business practices and maintain, and cause each Subsidiary of each Loan Party to maintain, all of its properties useful or necessary in its business in good working order and condition in all material respects (reasonable wear and tear
excepted and except as may be Disposed of in accordance with the terms of this Agreement (including, without limitation, Section 7.1)), including, without limitation, all Intellectual Property and take all actions necessary to enforce and
protect the validity of its Intellectual Property. Each Loan Party shall, and shall cause each Subsidiary of each Loan Party to, (a) keep in full force and effect its existence and its material rights and franchises, except as expressly
permitted by this Agreement (including pursuant to Section 7.1), (b) comply in all material respects with the laws and regulations governing the conduct of its business where the failure to do so could reasonably be expected to have,
either individually or in the aggregate, a Material Adverse Effect, and (c) except as expressly permitted hereunder, make all such reports and pay all such franchise and other taxes and license fees and do all such other acts and things as may
be lawfully required to maintain its rights, licenses, leases, powers and franchises under the laws of the United States, Canada or any of their political subdivisions or, based on commercially reasonable efforts, to do so in any applicable foreign
jurisdiction or any political subdivision of any of such foreign jurisdictions. 
 6.3 Violations. 

Promptly after becoming aware of the same, notify Agent in writing of any violation of any law, statute, regulation or ordinance of any
Governmental Body, or of any agency thereof, applicable to any Loan Party or any of their Subsidiaries which could reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect. 

6.4 Government Receivables. 
 If Administrative Borrower or any Borrower reports as being an Eligible Account or requests be treated as an Eligible Account any Accounts in excess of $50,000 owing by the United States, Canada, any
state, any province or any department, agency or instrumentality of any of them (collectively, “Government Receivables”), or upon Agent’s request at any time following the occurrence and during the continuance of a Default or Event of
Default with respect to any other Governmental Receivables, take all steps necessary to protect Agent’s interest in the such Government Receivables under the Federal Assignment of Claims Act, the Financial Administration Act (Canada) or other
applicable state, provincial or local statutes or ordinances and deliver to Agent appropriately endorsed, any instrument or chattel paper connected with any Government Receivables. 

  
 84 

 6.5 Execution of Supplemental Instruments; Further Assurances. 

Promptly upon request by Agent, each Loan Party shall take such additional actions (including, without limitation, execution and delivery
of such supplemental agreements or instruments, statements, assignments and transfers, or instructions or documents relating to the Collateral) as Agent may require in its Permitted Discretion from time to time in order (a) to carry out more
effectively the purposes of this Agreement or any Other Document, (b) to subject all of the existing or hereinafter acquired personal and real property (other than Excluded Assets) of each Loan Party to first-priority perfected Liens (other
than with respect to the Term Loan Priority Collateral (subject to the Term Loan Intercreditor Agreement) and subject to Permitted Encumbrances) in favor of Agent to secure the Obligations, (c) to perfect and maintain the validity,
effectiveness and priority of any of the Liens created, or intended to be created thereby, by this Agreement or any Other Document to the extent required herein or therein, and (d) to better assure, convey, grant, assign, transfer, preserve,
protect and confirm to Agent and Lenders the rights granted or now or hereafter intended to be granted to Agent and the Lenders under this Agreement or any Other Document. Without limiting the generality of the foregoing, each Loan Party shall (and
shall cause each other Loan Party to) guarantee (to the extent not already directly obligated with respect thereto) all of the Obligations and to grant to Agent, for the benefit of Agent, Lenders, Bank Product Provider and Issuer, a Lien in all of
such Loan Party’s existing or hereinafter acquired personal and real property (other than Excluded Assets) to secure all of the Obligations; provided, that, no such guarantee or grant shall be required by a Non-US Subsidiary that
is a CFC to the extent such guarantee or grant would result in material adverse tax consequences to Loan Parties under Treas. Reg. Section 1.956-2. 
 6.6 Payment of Indebtedness. 
 Each Loan Party shall, and shall cause each
Subsidiary of each Loan Party to, subject at all times to any applicable subordination or intercreditor arrangement in favor of Agent and/or Lenders, pay, discharge or otherwise satisfy at or before maturity (subject, where applicable, to specified
grace periods and, in the case of the trade payables, to normal payment practices) all its Indebtedness of whatever nature, except when the failure to do so could not reasonably be expected to have, either individually or in the aggregate, a
Material Adverse Effect or when the amount or validity thereof is currently being contested in good faith by appropriate proceedings and each Loan Party and each of their Subsidiaries shall have provided for such reserves as Agent may reasonably
deem proper and necessary. 
 6.7 Standards of Financial Statements. 

Each Loan Party shall, and shall cause each Subsidiary of each Loan Party to, cause all financial statements referred to in Sections 9.7
and 9.9 as to which GAAP is applicable to be true and correct in all material respects (subject, in the case of interim financial statements, to normal year-end audit adjustments) and to be prepared in reasonable detail and in accordance with GAAP
consistently applied. 
 6.8 Post-Closing Deliveries. 

Without limiting any other obligation of Loan Parties set forth herein or in any of the Other Documents, Loan Parties shall deliver or
cause to be delivered to Agent, in form and substance reasonably satisfactory to Agent, as promptly as possible following the Closing Date, but in any event no later than the dates referred to in Schedule 6.8 hereto with respect to each such item
(or such later date as Agent shall agree in writing), each of the items referred to in such Schedule. 

  
 85 

 7. NEGATIVE COVENANTS. 
 No Loan Party shall, nor shall any Loan Party permit any of its Subsidiaries to, at any time prior to the Payment in Full of all of the Obligations: 

7.1 Merger, Amalgamation, Consolidation, Acquisition and Sale of Assets. 

(a) Consummate any merger, amalgamation, consolidation or other reorganization with or into any other Person or acquire all or a
substantial portion of the assets or Equity Interests of any Person or permit any other Person to consolidate with, amalgamate with or merge with it; except, that, (i) a Loan Party may merge, amalgamate or consolidate into another
Loan Party so long as (A) no Event of Default shall have occurred and be continuing, (B) Administrative Borrower shall give Agent at least ten (10) Business Days prior notice thereof, (C) if a Borrower is a party to such merger,
amalgamation or consolidation a Borrower shall be the surviving entity; provided, that, any assets of the Person so acquired from any Person that was not a Borrower prior thereto shall only be eligible for inclusion into the Borrowing
Base to the extent that Agent has completed an appraisal, collateral audit and/or field examination (as the case may be) with respect thereto and the criteria for eligibility set forth herein (or such other or additional criteria as Agent may, at
its option, establish with respect thereto in accordance with this Agreement and subject to such Reserves as Agent may establish in connection with the assets of the Person so acquired) are satisfied with respect thereto in a manner acceptable to
Agent, (D) no Loan Party shall merge, amalgamate or consolidate with a Loan Party that exists under the laws of a country different than the country in which such Loan Party exists and (E) prior to such merger, amalgamation or
consolidation Loan Parties have taken (or caused to be taken) all steps required by Agent with respect thereto (including without limitation all steps required by Agent to maintain Agent’s Lien on the Collateral granted by such Loan Parties, as
well as the priority and effectiveness of such Lien); and (ii) a Subsidiary of the Borrowers that is not a Loan Party may merge, amalgamate or consolidate into another Subsidiary of the Borrowers that is not a Loan Party so long as (A) no
Event of Default shall have occurred and be continuing, (B) Administrative Borrower shall give Agent at least ten (10) Business Days prior notice thereof, and (C) prior to such merger, amalgamation or consolidation Loan Parties have
taken (or caused to be taken) all steps required by Agent with respect thereto. 
 (b) Acquire all or a substantial portion of
the assets or Equity Interests of any Person except for investments permitted by Section 7.4. 
 (c) Directly or
indirectly, sell, assign, lease, transfer, abandon or otherwise dispose of any of its assets or properties (including, without limitation, the Collateral) to any other Person (each, a “Disposition”), except for: 

(i) the sale of Inventory in the ordinary course of business, 
 (ii) provided no Default or Event of Default shall have occurred and be continuing or result therefrom, the Disposition of assets (other than equity interests of any of its Subsidiaries) having a fair
market value not to exceed $250,000 in the aggregate in any fiscal year; 
 (iii) the sale, lease, transfer or other
Disposition of property by a Loan Party or a Subsidiary of a Loan Party to any other Loan Party or Subsidiary of a Loan Party; provided, that, (A) if a Borrower or any of its assets is subject to a Disposition, all parties to such
Disposition must be Borrowers, (B) if a Loan Party or any of its assets is subject to a Disposition, all parties to such Disposition must be Loan Parties, (C) if a US Loan Party or any of its assets is subject to a Disposition, all parties
to such Disposition must be US Loan Parties, (D) to the extent such transaction constitutes an investment, such transaction must be permitted under Section 7.4 and (E) any Lien in favor of Agent on such property shall continue in all
respects and shall not be deemed released or terminated as a result of such sale, lease, transfer or other Disposition and Loan Parties shall execute and deliver such agreements, documents and instruments as Agent may reasonably request with respect
thereto; 

  
 86 

 (iv) the sale, lease, transfer or Disposition of used, worn-out or obsolete machinery and
equipment and machinery and equipment no longer used or useful in the conduct of business of Loan Parties or any of their Subsidiaries having a fair market value not to exceed $250,000 in the aggregate in any fiscal year; 

(v) the grant in the ordinary course of business by any Loan Party or any of their Subsidiaries after the date hereof of a non-exclusive
license of any Intellectual Property or any exclusive license of any Intellectual Property in a particular territory; provided, that, the rights of the licensee shall be subject to the rights of Agent, and shall not adversely affect, limit or
restrict the rights of Agent to use such Intellectual Property or to sell or otherwise dispose of any Inventory or other Collateral in connection with the exercise by Agent of any rights or remedies hereunder or under any of the Other Documents, or
otherwise adversely limit or interfere in any material respect with the use of any such Intellectual Property by Agent in connection with the exercise of its rights or remedies hereunder or under any of the Other Documents or by any Loan Party or
Subsidiary; 
 (vi) the issuance of Equity Interests by Loan Parties; provided, that, no Loan Party or Subsidiary shall be
required to pay any cash dividends, distributions or repurchase or redeem such Equity Interests or make any other payments in respect thereof, except as otherwise expressly permitted in Section 7.7; 

(vii) the issuance of Equity Interests by Parent consisting of common stock (or its equivalent) pursuant to an employee stock option
plan or grant or similar equity plan or 401(k) plan of Loan Parties and their Subsidiaries for the benefit of their employees, directors and officers; 
 (viii) the abandonment or other disposition of Intellectual Property that is not material and is no longer used or useful in any material respect in the business of any Loan Party or any of its
Subsidiaries and does not appear on or is otherwise not affixed to or incorporated in any Inventory or Equipment or have any material value; 
 (ix) involuntary Dispositions occurring by reason of casualty or condemnation; 

(x) the leasing, occupancy agreements or sub-leasing of Real Property or Equipment in the ordinary course of business consistent with
past practices that would not materially interfere with the required use of such Real Property or Equipment by any Loan Party or any of its Subsidiaries; 
 (xi) transfers of condemned real property as a result of the exercise of “eminent domain” or other similar policies to the respective governmental authority or agency that has condemned the same
(whether by deed in lieu of condemnation or otherwise), and transfers of properties that have been subject to a casualty to the respective insurer of such real property as part of an insurance settlement; and 

  
 87 

 (xii) any Disposition of property or assets, or issuance of Equity Interests, that is
permitted under Sections 7.1(a) and 7.7. 
 7.2 Creation of Liens. 

Create or suffer to exist any Lien or transfer upon or against any of its property or assets now owned or hereafter acquired, except for
Permitted Encumbrances. 
 7.3 Guarantees. 
 Become liable upon the obligations of any Person by assumption, endorsement or guarantee thereof or otherwise (other than with respect to the Obligations) except: 

(a) for the endorsement of checks in the ordinary course of business; and 

(b) that (i) Loan Parties and their Subsidiaries may guarantee Indebtedness or other obligations of Borrowers and their US
Subsidiaries that are Loan Parties and (ii) a Non-US Subsidiary may guarantee Indebtedness or other obligations of another Non-US Subsidiary (provided if the Non-US Subsidiary that is providing such guarantee is a Loan Party such other Non-US
Subsidiary must also be a Loan Party); 
 (c) that Loan Parties and their Subsidiaries may guarantee Indebtedness under the Term
Loan Documents; and 
 (d) guarantees not permitted under clauses (a) through (b) above in an aggregate outstanding
amount not to exceed $100,000 at any time. 
 7.4 Investments. 

Purchase or acquire Indebtedness or Equity Interests of, or any other interest in, any Person, except: 

(a) cash or Cash Equivalents; 
 (b) as expressly permitted pursuant to Section 7.1, Section 7.5, Section 7.7 and Section 7.8; 
 (c) the endorsement of instruments for collection or deposit in the ordinary course of business; 
 (d) obligations under Hedging Agreements permitted under Section 7.8(e); 

(e) Equity Interests or other obligations issued to Loan Parties by any Person (or the representative of such Person) in compromise or
settlement of Indebtedness of such Person owing to Loan Parties (whether or not in connection with the insolvency, bankruptcy, receivership or reorganization of such a Person or a composition or readjustment of the debts of such Person) or upon the
foreclosure, perfection or enforcement of any Lien in favor of a Loan Party securing any such obligations; 

  
 88 

 (f) obligations of account debtors to Loan Parties and their Subsidiaries arising from
Accounts which are evidenced by a promissory note made by such account debtor payable to the applicable Loan Party or Subsidiary; provided, that, promptly upon the receipt of the original of any such promissory note issued to any Loan
Party from any account debtor in excess of $250,000 in the aggregate (or regardless of the amount after an Event of Default exists or has occurred and is continuing, at the request of Agent), such promissory note(s) shall, upon the request of Agent,
be endorsed to the order of Agent by Loan Parties and promptly delivered to Agent as so endorsed; 
 (g) investments by Loan
Parties and their Subsidiaries in the form of Equity Interests received as part or all of the consideration for the sale of assets pursuant to a Disposition by any such Loan Party of Subsidiary to the extent permitted under Section 7.1(c);

 (h) the existing investments of any Loan Party or Subsidiary thereof as of the date hereof in their respective Subsidiaries;

 (i) investments made after the date hereof by (i) Parent in another Loan Party, (ii) a Loan Party (other than
Parent) in another Loan Party, (iii) a US Subsidiary of a Loan Party in a US Subsidiary of another Loan Party and (iv) a Non-US Subsidiary of a Loan Party in a Non-US Subsidiary of a Loan Party; provided, that, in no such
case shall a Loan Party make an investment in a Person that is not a Loan Party; 
 (j) Permitted Acquisitions; 

(k) loans or advances to employees, officers and directors to the extent permitted in Section 7.5(c); and 

(l) investments not permitted under clauses (a) through (k) above in an aggregate outstanding amount not to exceed the $100,000
at any time; provided, that, as of the date of such investment or any payment made in respect thereof and after giving effect to such investment or payment, no Default or Event of Default shall exist or have occurred and be continuing.

 7.5 Loans. 
 Make advances, loans or other extensions of credit to any Person, including, without limitation, any Subsidiary or Affiliate, except with respect to: 

(a) the extension of commercial trade credit in connection with the sale of Inventory or the provision of services, each in the ordinary
course of its business; 
 (b) deposits of cash for leases, utilities, worker’s compensation and similar matters in the
ordinary course of business; 
 (c) advances or loans by a Loan Party or any Subsidiary of a Loan Party to its employees,
officers or directors in the ordinary course of business in an aggregate amount not to exceed $75,000 at any time outstanding for: (i) reasonable and necessary work-related travel or other ordinary business expenses to be incurred by such
employee, officer or director in connection with their work for such Loan Party or Subsidiary and (ii) reasonable and necessary relocation expenses of such employees, officers and directors (including home mortgage financing for relocated
employees, officers and directors); and 

  
 89 

 (d) advances, loans or extensions of credit made by (i) Parent to another Loan Party,
(ii) a Loan Party (other than Parent) to another Loan Party, (iii) a US Subsidiary of a Loan Party in a US Subsidiary of another Loan Party and (iv) a Non-US Subsidiary of a Loan Party to a Non-US Subsidiary of a Loan Party;
provided, that, in no such case shall a Loan Party make an advance, loan or extension of credit in a Person that is not a Loan Party. 
 7.6 Capital Expenditures. 
 Contract for, purchase or make any Capital
Expenditures during any fiscal year set forth below in an aggregate amount in excess of the amount set forth below for such fiscal year: 
  

					
	 Fiscal Year
	  	Maximum Capital Expenditures	 
	 Fiscal year ended December 31, 2012
	  	$	5,500,000	  
	 Fiscal year ended December 31, 2013 (and each fiscal year thereafter)
	  	$	6,000,000	  

 Notwithstanding the foregoing, with respect to the fiscal year ended December 31, 2013 and each fiscal year
thereafter, Loan Parties may make Capital Expenditures in an aggregate amount in excess of the amount set forth above for such fiscal year (the “Maximum Capital Expenditures Amount”) so long as, at all times following the date that the
Maximum Capital Expenditures Amount for such fiscal year has been exceeded (the “Maximum Capital Expenditures Determination Date”) through and including the end of such fiscal year, Loan Parties shall have a Fixed Charge Coverage Ratio,
calculated as of the last day of each fiscal month for the trailing twelve (12) month period then ended (commencing with the last day of the fiscal month immediately preceding the Maximum Capital Expenditures Determination Date), equal to or
greater than 1.1:1.0. 
 7.7 Dividends and Distributions. 

Declare, pay or make any dividend or distribution or payment with respect to: 

(a) any shares of the Equity Interests of any Loan Party or any of their Subsidiaries (other than dividends or distributions payable in
its Equity Interests permitted hereunder) or apply any of its funds, property or assets to the purchase, redemption or other retirement of any such Equity Interests; except, that, (i) in lieu of making tax payments directly, Loan
Parties and their Subsidiaries may make dividends and distributions to Parent from time to time for the sole purpose of allowing Parent to, and Parent shall promptly upon receipt thereof use the proceeds thereof solely to, pay federal, state and
provincial income taxes and franchise taxes solely arising out of the consolidated operations of Parent, Borrowers and their Subsidiaries, after taking into account all available credits and deductions (provided, that, no Borrower or
Subsidiary thereof shall make any distribution to Parent in any amount greater than the share of such taxes arising out of Borrowers and their Subsidiaries’ consolidated net income); (ii) Loan Parties and their Subsidiaries may make
dividends and distributions to any Loan Party from time to time in respect of any Equity Interests owned by any Loan Party; and (iii) Parent may purchase and redeem its Equity Interests for the sole purpose of providing proceeds to Equity
Interest Option Holders in order to permit such Equity Interest Option Holders to pay federal, state and provincial income taxes solely arising out of and relating to options and warrants owned by such Equity Interest Option Holders;
provided, that, the aggregate amount of purchases and redemptions under this clause (iii) shall not exceed $150,000 during any fiscal year, and 

  
 90 

 (b) any redemption, prepayment (whether mandatory or optional), defeasance, repurchase or
any other payment in respect of any Subordinated Debt, or apply any of its funds, property or assets to the purchase, redemption or other retirement of any Subordinated Debt; except, that, mandatory payments may be made on Subordinated
Debt to the extent expressly permitted in any subordination or intercreditor agreement executed by Agent with respect thereto. 

7.8 Indebtedness. 
 Create, incur, assume or suffer to exist any Indebtedness (exclusive of trade payables incurred in the ordinary course of business consistent with past practices outstanding no more than thirty
(30) days past its due date) except in respect of: 
 (a) the Obligations; 

(b) Indebtedness (other than the Obligations) to the extent incurred after the Closing Date to finance Capital Expenditures in an
aggregate amount not to exceed $500,000 at any one time outstanding; 
 (c) Indebtedness existing on the Closing Date as set
forth on Schedule 7.8 and any refinancings, refundings, renewals or extensions thereof (without shortening the maturity thereof or increasing the principal amount thereof (excluding accrued interest, fees, discounts, premiums and
expenses)); 
 (d) Indebtedness expressly permitted by Section 7.3 and Section 7.5; 

(e) Indebtedness arising under Hedging Agreements which are not entered into for speculative purposes and are intended to provide
protection against fluctuations in interest rates or foreign currency exchange rates; provided, that, if such Indebtedness arising under any Hedging Agreement is not provided by a Bank Product Provider or any of its Affiliates, the
Indebtedness under such Hedging Agreement shall only be Indebtedness permitted under this Section 7.8(e) if (i) prior to entering into any such Hedging Agreement, the applicable Loan Party shall have offered to a Bank Product Provider or
any of its Affiliates the right of first refusal to enter such Hedging Agreement on substantially the same economic terms, and (ii) a Bank Product Provider or any of its Affiliates shall have elected not to exercise its right of first refusal
and enter into such Hedging Agreement on substantially the same or, with respect to any Loan Party, better, economic terms; 

(f) Indebtedness in respect of netting services, overdraft protections, employee credit card programs and otherwise in connection with
deposit accounts and Indebtedness arising from the honoring by a bank or other financial institution of a check, draft or similar instrument inadvertently (except in the case of daylight overdrafts) drawn against insufficient funds in the ordinary
course of business; provided, that, such Indebtedness is extinguished within five (5) Business Days of incurrence; 

  
 91 

 (g) Indebtedness in respect of bid, performance and surety bonds, including guarantees or
obligations of Loan Parties with respect to letters of credit supporting such bid, performance and surety bonds or other forms of credit enhancement supporting performance obligations under services contracts, workers’ compensation claims,
self-insurance obligations, unemployment insurance, health, disability and other employee benefits or property, casualty or liability insurance in each case incurred in the ordinary course of business; provided, that, upon Agent’s
request, Agent shall have received true, correct and complete copies of all material agreements, documents or instruments evidencing or otherwise related to such Indebtedness, as duly authorized, executed and delivered by the parties thereto;

 (h) unsecured Indebtedness arising from agreements to provide for customary indemnification, adjustment of purchase price or
similar obligations, earn-outs or other similar obligations, in each case, incurred in connection with a Permitted Acquisition or Disposition permitted hereunder and in the case of earn-outs or other similar obligations so long as they have been
subordinated to the Obligations pursuant to a subordination agreement in favor of Agent on terms and conditions reasonably satisfactory to Agent; 
 (i) unsecured subordinated Indebtedness of Loan Parties and their Subsidiaries arising after the date hereof to any third person not otherwise permitted in this Section 7.8, in an aggregate
outstanding principal amount not to exceed $100,000 at any time and any refinancings, refundings, renewals or extensions thereof (without shortening the maturity thereof or increasing the principal amount thereof (excluding accrued interest, fees,
discounts, premiums and expenses)); provided, that, (i) as of the date of incurring such Indebtedness and after giving effect thereto, no Default or Event of Default shall exist or have occurred and be continuing, (ii) the
terms and provisions of such Indebtedness shall provide that no principal or interest (other than interest payable in kind (i.e., non-cash interest)) shall be paid in respect thereof until after all of the Obligations are Paid in Full,
and (iii) such third person shall have entered into a subordination agreement with Agent on terms and conditions reasonably satisfactory to Agent; 
 (j) Indebtedness arising pursuant to financing of insurance premiums payable on insurance policies maintained by or for the benefit of Loan Parties or any of their Subsidiaries; provided,
that, upon Agent’s request, Agent shall have received true, correct and complete copies of all material agreements, documents and instruments evidencing or otherwise related to such Indebtedness; 

(k) subject to the terms and conditions of the Term Loan Intercreditor Agreement, Indebtedness of any Loan Party under the Term Loan
Documents; and 
 (l) additional unsecured Indebtedness of Loan Parties and their Subsidiaries in an aggregate principal amount
not to exceed $100,000 at any one time outstanding. 

  
 92 

 7.9 Nature of Business. 

Substantially change the nature of the business in which it is presently engaged, and similar, related or complementary businesses
subsequently engaged in, nor except as specifically permitted hereby purchase or invest, directly or indirectly, in any assets or property other than in the ordinary course of business for assets or property which are useful in, necessary or
appropriate for and are to be used in its business as presently conducted or similar, related or complementary businesses. 

7.10 Transactions with Affiliates. 
 Directly or indirectly, purchase, acquire or lease any property from, or sell, transfer or lease any property to, or otherwise deal with, any Affiliate, except for: 

(a) transactions, arrangements and other business activities entered into in the ordinary course of business, on an arm’s-length
basis on terms no less favorable than terms which would have been obtainable from a Person other than an Affiliate; 
 (b) any
employment or compensation arrangement or agreement, employee benefit plan or arrangement, officer or director indemnification agreement or any similar arrangement or other compensation arrangement entered into in good faith, for actual services
rendered to any Loan Party or any Subsidiary, by any Loan Party and the Subsidiaries in the ordinary course of business and non-cash payments, issuance of securities or awards pursuant thereto, and including the grant of stock options, restricted
stock, stock appreciation rights, phantom stock awards or similar rights to employees and directors in each case approved by the Board of Directors of such Loan Party; and 
 (c) transactions among Loan Parties and their Subsidiaries expressly permitted by Section 7.1(c), Section 7.3(b), Section 7.4(i), Section 7.5(c), Section 7.5(d) and
Section 7.7. 
 7.11 Leases. 
 After the Closing Date, enter as lessee into any lease arrangement for Equipment or Real Property (unless capitalized and permitted under Sections 7.6 and 7.8) if after giving effect thereto, aggregate
annual rental payments for all leased property would exceed $500,000 in any one (1) fiscal year for all Loan Parties and their Subsidiaries (or such higher amount as Agent may approve in its sole discretion). Any renewal, replacement or
extension of any lease or lease arrangement that exists as of the Closing Date shall not be taken into account for the purposes of this Section 7.11. 
 7.12 Subsidiaries. 
 (a) Form any Subsidiary unless (i) such Subsidiary
expressly joins in this Agreement as a Loan Party, becomes jointly and severally liable for, or otherwise guaranties, all of the Obligations and grants a Lien on substantially all of its assets to secure all of the Obligations and consents to the
pledge of its Equity Interests to secure all of the Obligations in form and substance reasonably satisfactory to Agent (in each case, except (A) to the extent that such assets constitute Excluded Assets and (B) no such guarantee or grant
shall be required by a Non-US Subsidiary that is a CFC to the extent such guarantee or grant would result in material adverse tax consequences to Loan Parties under Treas. Reg. Section 1.956-2), (ii) Agent is provided with a pledge of all
of the outstanding Equity Interests of such Subsidiary to secure all of the Obligations in form and substance reasonably satisfactory to Agent (except to the extent that such Equity Interests constitutes Excluded Assets), and (iii) Agent shall
have received fifteen (15) days prior written notice thereof (along with an update of Schedule 5.2(b)) and all documents, including collateral documents, guaranties, corporate authority documents and legal opinions, as Agent may
require in its Permitted Discretion in connection therewith, all in form and substance reasonably satisfactory to Agent; provided, that, investments in any Subsidiary which Loan Parties may form in accordance with this
Section 7.12(a) may only be made to the extent permitted by Section 7.4. 

  
 93 

 (b) Enter into any partnership, joint venture or similar arrangement. 

7.13 Fiscal Year and Accounting Changes. 
 Change its fiscal year-end from December 31, or make any change (a) in accounting treatment and reporting practices except as required by GAAP consistently applied or (b) in tax reporting
treatment except as required by law. 
 7.14 Pledge of Credit. 

Now or hereafter pledge Agent’s or any Lender’s credit on any purchases or for any purpose. 

7.15 Amendment of Organizational Documents; Term Loan Documents; and other Related Agreements. 

(a) Amend, modify or waive any term or provision of its certificate of formation, limited liability company agreement, certificate of
incorporation, by-laws, partnership agreement or other applicable documents relating to such Loan Party’s or Subsidiary’s formation or governance, or any shareholders agreement, unless Agent is provided prior five (5) Business
Days’ prior written notice of any such amendment, modification or waiver and such amendment, modification or waiver is not materially adverse in any respect to Agent and the Lenders. 

(b) Amend, modify or waive any term or provision of any Term Loan Documents, unless Agent is provided prior five (5) Business
Days’ prior written notice of any such amendment, modification or waiver and such amendment, modification or waiver is permitted by the Term Loan Intercreditor Agreement. 
 (c) Amend, modify or waive any term or provision of any Related Agreement or Material Contract not specified in another clause of this Section 7.15, unless Agent is provided prior five
(5) Business Days’ prior written notice of any such amendment, modification or waiver and such amendment, modification or waiver is not materially adverse in any respect to Agent and the Lenders. 

7.16 Compliance with ERISA. 
 (a) Maintain, or permit any member of the Controlled Group to maintain, or become obligated to contribute, or permit any member of the Controlled Group to become obligated to contribute, to any Title IV
Plan, other than those Title IV Plans disclosed on Schedule 5.8(d), (b) engage, or permit any member of the Controlled Group to engage, in any non-exempt “prohibited transaction”, as that term is defined in
Section 406 of ERISA and Section 4975 of the Code, (c) incur, or permit any member of the Controlled Group to fail the applicable “minimum funding standard”, as that term is defined in Section 302 of ERISA or
Section 412 of the Code, (d) terminate, or permit any member of the Controlled Group to terminate, any Title IV Plan where such event could result in any liability of any Loan Party or any member of the Controlled Group or the imposition
of a Lien on the property of any Loan Party or any member of the Controlled Group pursuant to Section 4068 of ERISA, (e) assume, or permit any member of the Controlled Group to assume, any obligation to contribute to any Multiemployer Plan
not disclosed on Schedule 5.8(d), (f) incur, or permit any member of the Controlled Group to incur, any withdrawal liability to any Multiemployer Plan, except to the extent that the failure to comply, individually or in the
aggregate, could not reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect, (g) fail promptly to notify Agent of the occurrence of any Termination Event, (h) fail to comply, or permit a member
of the Controlled Group to fail to comply, with the requirements of ERISA or the Code or other applicable laws in respect of any Plan, or (i) fail to meet, or permit any member of the Controlled Group to fail to meet, all minimum funding
requirements under ERISA or the Code or postpone or delay or allow any member of the Controlled Group to postpone or delay any funding requirement with respect of any Title IV Plan. 

  
 94 

 7.17 Prepayment, Etc. of Money Borrowed. 

At any time, directly or indirectly, voluntarily prepay any Money Borrowed (other than the Obligations), or voluntarily repurchase,
redeem, retire or otherwise acquire any Money Borrowed of any Loan Party or any Subsidiary, in each case prior to the due date thereof. 
 7.18 State of Organization/Names/Locations. 
 Change the jurisdiction in
which it is incorporated or otherwise organized, or change its legal name (or use a different name), location of chief executive office or location of any of the Collateral, unless Administrative Borrower has given Agent not less than thirty
(30) days prior written notice thereof (along with an update of Schedule 4.4, Schedule 4.14(c), Schedule 5.2(a) and Schedule 5.6, as applicable) and Loan Parties have taken (or caused to be taken)
all steps required by Agent with respect thereto (including without limitation all steps required by Agent to maintain Agent’s Lien on such Collateral, as well as the priority and effectiveness of such Lien); provided, that, no
Loan Party shall change its jurisdiction of incorporation or organization or location of any of its Collateral to a jurisdiction or location from (a) the continental United States to outside of the continental United States or (b) one
country to another country. 
 7.19 Foreign Assets Control Regulations, Etc. 

None of the requesting or borrowing of the Loans or the requesting or issuance, extension or renewal of any Letters of Credit or the use
of the proceeds of any thereof will violate the Trading With the Enemy Act (50 U.S.C. §1 et seq., as amended) (the “Trading With the Enemy Act”) or any of the foreign assets control regulations of the United States Treasury Department
(31 C.F.R., Subtitle B, Chapter V, as amended) (the “Foreign Assets Control Regulations”) or any enabling legislation or executive order relating thereto (including, but not limited to (a) Executive order 13224 of September 21,
2001 Blocking Property and Prohibiting Transactions With Persons Who Commit, Threaten to Commit, or Support Terrorism (66 Fed. Reg. 49079 (2001)) (the “Executive Order”) and (b) the Uniting and Strengthening America by Providing
Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 (Public Law 107-56). Neither Borrower nor any other Loan Party is or will become a Sanctioned Entity or Sanctioned Person as described in the Executive Order, the Trading
with the Enemy Act or the Foreign Assets Control Regulations or engages or will engage in any dealings or transactions, or be otherwise associated, with any such Sanctioned Entity or Sanctioned Person. 

  
 95 

 8. CONDITIONS PRECEDENT. 
 8.1 Conditions to Initial Advances. 
 The agreement of Lenders to make the
initial Advances and Letters of Credit requested to be made on the Closing Date is subject to the satisfaction, or waiver by Lenders, immediately prior to or concurrently with the making of such Advances and Letters of Credit, of the following
conditions precedent, all in form and substance acceptable to Agent: 
 (a) Agreement. Agent shall have received this
Agreement duly executed and delivered by an authorized officer of each of the parties hereto; 
 (b) Notes. Agent, to the
extent required by Lenders, shall have received the Notes duly executed and delivered by an authorized officer of the Borrowers in favor of such Lenders; 
 (c) Filings, Registrations, Recordings and Searches. Each document (including, without limitation, any UCC and PPSA financing statements) required by this Agreement, any Other Document or under law
or reasonably requested by Agent to be filed, registered or recorded in order to create, in favor of Agent, a perfected Lien upon the Collateral shall have been properly filed, registered or recorded in each jurisdiction in which the filing,
registration or recordation thereof is so required or requested, and Agent shall have received an acknowledgment copy, or other evidence satisfactory to it, of each such filing, registration or recordation and satisfactory evidence of the payment of
any necessary fee, tax or expense relating thereto. Agent shall also have received UCC, PPSA, tax, judgment and other Lien searches with respect to each Loan Party in such jurisdictions as Agent shall require, and the results of such searches shall
be satisfactory to Agent; 
 (d) Payoff Letters; Releases. Fully executed payoff letters (or other evidence of repayment)
from all creditors being repaid (in whole or in part) in connection with the making of the initial Advances, along with appropriate Lien releases; 
 (e) Corporate Proceedings of Loan Parties. Agent shall have received a copy of the resolutions of the board of directors (or equivalent authority) of each Loan Party authorizing (i) the
execution, delivery and performance of this Agreement and the Other Documents to which it is a party, and (ii) the granting by each Loan Party of the Liens upon the Collateral in each case certified by the Secretary or an Assistant Secretary of
each Loan Party as of the Closing Date; and, such certificate shall state that the resolutions thereby certified have not been amended, modified, revoked or rescinded as of the date of such certificate; 

(f) Incumbency Certificates of Loan Parties. Agent shall have received a certificate of the Secretary or an Assistant Secretary of
each Loan Party, dated as of the Closing Date, as to the incumbency and signature of the officers of each Loan Party executing this Agreement, any certificate or Other Documents to be delivered by it pursuant hereto, together with evidence of the
incumbency of such Secretary or Assistant Secretary; 

  
 96 

 (g) Certificates. Agent shall have received a copy of the certificate of formation,
limited liability company agreement, certificate of incorporation, by-laws, partnership agreement or other applicable documents relating to each Loan Party’s formation and governance, and all amendments thereto, certified in the case of
formation documents filed with a Governmental Body by the Secretary of State or other appropriate official of its jurisdiction of incorporation or formation and certified in the case of other formation and governance documents as accurate and
complete by the Secretary or Assistant Secretary of each Loan Party; 
 (h) Good Standing Certificates. Agent shall have
received good standing certificates or certificates of status or certificates of compliance, as applicable, for each Loan Party dated not more than thirty (30) days prior to the Closing Date, issued by the Secretary of State or other
appropriate official of each such Loan Party’s jurisdiction of incorporation or formation and each jurisdiction in which qualification and good standing are necessary for each such Loan Party to conduct its business and own its property and
where the failure to so qualify could reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect; 
 (i) Legal Opinion. Agent shall have received the executed legal opinions of Loan Parties’ legal counsel, which shall cover such matters incident to the transactions contemplated by this
Agreement and the Other Documents as Agent may reasonably require and each Loan Party hereby authorizes and directs such counsel to deliver such opinions to Agent and Lenders; 
 (j) No Litigation. (i) No litigation, investigation or proceeding before or by any arbitrator or Governmental Body shall be continuing or threatened in writing against any Loan Party or
against the officers or directors of any Loan Party in connection with this Agreement and/or the Other Documents or any of the transactions contemplated thereby and which, in the reasonable opinion of Agent, is deemed material and (ii) no
injunction, writ, restraining order or other order of any nature materially adverse to any Loan Party or the conduct of its business or inconsistent with the due consummation of the transactions contemplated by this Agreement or any of the other
Related Transactions shall have been issued by any Governmental Body; 
 (k) Collateral Examination. Agent shall have
completed Collateral examinations and received appraisals, the results of which shall be satisfactory in form and substance to Lenders, of the Collatera of each Loan Party and all books and records in connection therewith; 

(l) Fees and Expenses. Agent shall have received all fees payable to Agent and Lenders on or prior to the Closing Date pursuant to
Section 3.3 and the Fee Letter and all reimbursable expenses of Agent invoiced to date in accordance with this Agreement; 

(m) Financial Statements. Agent shall have received a copy of the financial statements referred to in Section 5.5; 

(n) Other Documents. Agent shall have received fully executed copies of all Other Documents to the extent required to be executed
on the Closing Date; 
 (o) Insurance. Agent shall have received insurance certificates and loss payable endorsements
naming Agent as loss payee or additional insured, as applicable, with respect to Loan Parties’ property and liability insurance policies; 

  
 97 

 (p) Payment Instructions. Agent shall have received written instructions from
Administrative Borrower directing the application of proceeds of the initial Advances made pursuant to this Agreement; 
 (q)
Blocked Accounts; Cash Management. Loan Parties shall have established deposit accounts and cash management arrangements in form and substance reasonably satisfactory to Agent (it being understood and agreed that, as of the Closing Date, the
cash management arrangements maintained at the Existing Deposit Banks are reasonably satisfactory to Agent); 
 (r)
Consents. Agent shall have received any and all Consents necessary to permit the effectuation of the transactions contemplated by this Agreement and the Related Transactions; and, Agent shall have received such Consents and waivers of such
third parties as might assert claims with respect to the Collateral, as Agent and its counsel shall deem necessary; 
 (s) No
Adverse Material Change. Since December 31, 2011, there shall not have occurred any event, condition or state of facts which could reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect;

 (t) Collateral Access Agreements. Agent shall have received duly executed Collateral Access Agreements with respect to
all third party Collateral locations required by Agent; 
 (u) Equity Interests Pledge. Agent shall have received a
pledge agreement, executed by each applicable Loan Party in favor of Agent, pursuant to which such Loan Party shall pledge to Agent and grant to Agent a Lien upon all of the outstanding Equity Interests of each Subsidiary (other than Equity
Interests, if any, constituting Excluded Assets) of such Loan Party, together with share powers duly executed in blank and originals of any related share, membership or other similar certificates; 

(v) Term Loan Documents. Agent shall have received executed copies of the Term Loan Intercreditor Agreement and all of the Term
Loan Documents, and evidence that Loan Parties have received $15,000,000 in the aggregate from advances made on or about the date hereof as proceeds thereof; 
 (w) Related Transactions. Loan Parties and their Subsidiaries shall have completed (or concurrently with the initial credit extension hereunder will complete) the Related Transactions in accordance
with the terms of the Related Agreements (without any amendment thereto or waiver thereunder unless consented to by Agent). Agent shall have received copies of the Related Agreements (including a consent to the collateral assignment of rights and
indemnities under the appropriate Related Agreements in favor of Agent and Lenders) certified by Administrative Borrower’s secretary or an assistant secretary (or similar officer) as being in true, accurate and complete; 

(x) Contract Review. Agent shall have reviewed all Material Contracts of Loan Parties, including, without limitation, and to the
extent required by Agent, leases, union contracts, labor contracts, vendor supply contracts, license agreements and distributorship agreements and such contracts and agreements shall be satisfactory in all respects to Agent; 

  
 98 

 (y) Borrowing Base. Agent shall have received a duly executed Borrowing Base
Certificate which shall indicate that the aggregate amount of Eligible Accounts and Eligible Inventory is sufficient in value and amount to support Revolving Advances and Letters of Credit in the amount requested by the Borrowers on the Closing
Date; 
 (z) Excess Availability. After giving effect to the initial Advances and Letters of Credit and all fees and
expenses pertaining to the closing of this Agreement and the Related Transactions, the Borrowers shall have Excess Availability of at least $5,000,000; 
 (aa) Due Diligence. Agent and its counsel shall have completed its business and legal due diligence with results satisfactory to Agent and its counsel, including without limitation
(i) pre-funding field examination of the business and collateral of each Loan Party in accordance with Agent’s customary procedures and practices and as otherwise required by the nature and circumstances of the businesses of each Loan
Party, (ii) favorable trade and customer references and (iii) background checks with respect to such individuals as Agent determines issued by investigatory firms satisfactory to Agent; and Agent shall be satisfied with the corporate and
capital structure and management of each Loan Party’s license agreements and with all legal, tax, accounting and other matters relating to each Loan Party; and 
 (bb) Other. All corporate and other proceedings, and all documents, instruments and other legal matters in connection with the transactions contemplated by this Agreement and the other Related
Transactions shall be satisfactory in form and substance to Agent and its counsel. 
 8.2 Conditions to Each Advance.

 The agreement of Lenders to make or to issue or to cause to be issued any Advance or Letter of Credit requested to be made or
issued on any date (including, without limitation, the initial Advance(s) or Letter(s) of Credit), is subject to the satisfaction of the following conditions precedent as of the date such Advance or Letter of Credit is made or issued: 

(a) Representations and Warranties. Each of the representations and warranties made by any Loan Party in or pursuant to this
Agreement and any Other Document to which it is a party, and each of the representations and warranties contained in any certificate, document or financial or other statement furnished at any time under or in connection with this Agreement or any
Other Document shall be true and correct in all material respects (without duplication of any materiality qualifiers already set forth therein; or in all respects with respect to representations and warranties made on the Closing Date) on and as of
such date as if made on and as of such date, except to the extent that such representations and warranties expressly relate solely to an earlier date (in which case such representations and warranties shall have been true and correct in all material
respects (without duplication of any materiality qualifiers already set forth therein) on and as of such earlier date); provided, however, that, each Lender, in its sole discretion, may (and at the direction of Agent and
Required Lenders, shall) continue to make Advances and participate in Letters of Credit notwithstanding the failure to make such representations and warranties and that any Advances so made and Letters of Credit so issued shall not be deemed a
waiver of any applicable Default or Event of Default; 

  
 99 

 (b) No Default. No Event of Default or Default shall have occurred and be continuing
on such date, or would exist after giving effect to the Advances requested to be made, on such date; provided, however, that, each Lender, in its sole discretion, may (and at the direction of Agent and Required Lenders, shall)
continue to make Advances and participate in Letters of Credit notwithstanding the existence of a Default or Event of Default and that any Advances so made and Letters of Credit so issued shall not be deemed a waiver of any such Default or Event of
Default; and 
 (c) Maximum Revolving Advances/Letters of Credit. The limits set forth in Section 2.1(b) are not
exceeded after giving effect to such Advances or Letters or Credit, as applicable. 
 Each request for an Advance or Letter of Credit by
Administrative Borrower (on behalf of the Borrowers) hereunder shall constitute a representation and warranty by the Borrowers as of the date of such Advance or Letter of Credit that the conditions contained in this subsection shall have been
satisfied. 
 9. INFORMATION AS TO LOAN PARTIES. 
 Until all of the Obligations are Paid in Full, each Loan Party shall: 
 9.1
Disclosure of Material Matters Pertaining to Collateral. 
 Immediately upon learning thereof, report to Agent all matters
materially affecting the value, enforceability or collectability of any portion of the Collateral including, without limitation, any Loan Party’s reclamation or repossession of, or the return to any Loan Party of, a material amount of goods or
claims or disputes asserted by any Customer or other obligor. 
 9.2 Collateral and Related Reports. 

(a) Deliver to Agent on or before the third (3rd) Business Day of each calendar week (or on a daily basis, current as of the end of
the immediately preceding day, after the occurrence and during the continuance of a Reporting Trigger Event), the following reports, which shall be current as of the close of business on the last Business Day of the calendar week immediately prior
to such date: 
 (i) a rollforward of Accounts, including gross billings, cash receipts, credit memos (reported separately by
dilutive and non-dilutive categories) and other adjustments issued (recorded directly to the Accounts receivable aging), write-offs, other debit and credit adjustments (including an explanation of all such adjustments); and 

(ii) a perpetual Inventory summary report as of the end of the immediately preceding week; 

(b) Deliver to Agent on or before the twentieth (20th) day of each calendar month (or more frequently if required by Agent after the
occurrence and during the continuance of a Reporting Trigger Event) a report, in form and substance reasonably satisfactory to Agent, detailing the amount on deposit in all Restricted Accounts; 

  
 100

 (c) Deliver to Agent on or before the twentieth (20th) day of each calendar month (or
more frequently if required by Agent after the occurrence and during the continuance of a Reporting Trigger Event) a Borrowing Base Certificate substantially in the form attached hereto as Exhibit A executed by a Responsible Officer of
Administrative Borrower (on behalf of the Borrowers), which shall be calculated as of the last day of the immediately preceding calendar month (which shall not be binding upon Agent or restrictive of Agent’s rights under this Agreement, and
which shall not restrict the rights of Agent to recalculate the Borrowing Base or any of the related components), setting forth an updated calculation of all components of the Borrowing Base including without limitation Reserves that Administrative
Borrower is aware of (it being understood that Agent may institute additional Reserves), the Borrowing Base and Excess Availability, if any, and supported by schedules showing the derivation thereof and containing such detail and such other
information as Agent may request from time to time; 
 (d) Deliver to Agent on or before the twentieth (20th) day of each
calendar month (or more frequently if required by Agent after the occurrence and during the continuance of a Reporting Trigger Event) the following reports, which shall be current as of the close of business on the last Business Day of the calendar
month immediately prior to such date: 
 (i) with respect to each Borrower, a detail and summary Accounts receivable aging by
Customer, along with a listing of related Contra Claims; 
 (ii) with respect to each Borrower, an Accounts
receivable rollforward report, which shall separately identify (A) the Accounts receivable aging balance as of the first (1st) day of such immediately preceding calendar month, (B) gross billings, cash receipts, credit memos and other
adjustments issued (recorded directly to the Accounts receivable aging), write-offs, other debit and credit adjustments on a cumulative basis for such calendar month (together with an explanation for all such adjustments that individually exceed
$100,000) during such immediately preceding calendar month, and (C) Accounts receivable aging balance as of the last day of such immediately preceding calendar month, supported by the following information for such immediately preceding
calendar month: 
 (1) Accounts receivable aging summary totals; 

(2) total amount of sales and invoices issued; 

(3) total amount of cash receipts; and 

(4) total amount of credits and adjustments (including credit memos issued, write-offs, returns, discounts and other
credit adjustments); 
 (iii) (A) a reconciliation of the Accounts receivable aging balance, together with a copy of
Borrowers’ detailed trial balance, as of the last day of such immediately preceding calendar month to each of the following for such calendar month: (1) Accounts receivable balance delivered to Agent, (2) each Borrower’s general
ledger (tied to corresponding trial balance accounts), and (3) each Borrower’s balance sheet, together with supporting documentation for any reconciling items, and (B) notice of all claims, offsets, or disputes or other Contra Claims
asserted by Customers with respect to any Borrower’s Accounts receivable; 

  
 101

 (iv) for each of the Borrowers’ ten (10) largest Customers, the payment terms of
such Customer’s Accounts receivable, its address, credit ratings and an aging for such Customers’ Accounts receivable balances as set forth in the accounts receivable aging most recently delivered to Agent; 

(v) with respect to each Borrower, a perpetual Inventory report, current as of the close of business on the last Business Day of the
immediately preceding calendar month, and reconciliation to each Borrower’s general ledger and balance sheet and Inventory reporting for the same calendar month; 
 (vi) with respect to each Borrower, an Inventory report by location, category and component (i.e., raw materials, work in process and finished goods), including Inventory aging report (and
including the amounts of Inventory and the value thereof at any leased locations and at premises of warehouses, processors or other third parties); 
 (vii) with respect to each Loan Party’s accounts payable and expenses for the immediately preceding calendar month, a report including an accounts payable aging, accrued expenses, and listing of
checks held, together with a reconciliation to each Loan Party’s general ledger and balance sheet for such calendar month; 
 (viii) (A) a detailed report of accrued and other liabilities of Loan Parties as of the end of such immediately preceding calendar month reconciled to the balance sheet for such calendar month;
(B) listing of (1) past due amounts owing to owners and lessors of leased premises, warehouses, processors and other third parties from time to time in possession of any Collateral of Loan Parties, (2) monthly rent, lease, warehouse
and other amounts payable to the Persons referred to in the foregoing clause (1), and (3) cost of all Inventory and other Collateral then located at each of the locations referred to in the foregoing clause (1); and (C) confirmation that
all sales, personal property and payroll and other taxes of Loan Parties are currently paid; 
 (ix) (A) a reconciliation of
outstanding Advances and undrawn Letters of Credit as of the end of such immediately preceding calendar month to each Borrower’s general ledger and balance sheet for such calendar month; and (B) a detailed list of Letters of Credit
outstanding, including for each Letter of Credit the undrawn principal amount thereof, beneficiary name, issuer name, and expiration date; and 
 (x) notice of termination or breach of any Material Contract of a Loan Party or any of their Subsidiaries (A) which could reasonably be expected to result in a Material Adverse Effect or
(B) with respect to a contract in which the aggregate payments thereunder by any Loan Party or any of their Subsidiaries exceed $500,000 in any fiscal year; 
 (e) Deliver to Agent on or before the sixtieth (60th) day after the end of each the Borrowers’ fiscal years: 
 (i) current certificates of insurance and loss payee endorsements for all insurance policies which Loan Parties and their Subsidiaries are required to maintain pursuant to Section 4.10; and

  
 102

 (ii) a list of all Customers of Loan Parties owing Accounts receivable as of the end of
such fiscal year, including such Customers’ respective name, address, phone number, and e-mail address; 
 (f) Promptly,
upon the request of Agent in its Permitted Discretion, in each case to the extent available, (i) copies of customer statements, customer purchase orders, customer sales invoices, credit memos, remittance advices and reports, and copies of
deposit slips and bank statements, (ii) copies of customer purchase orders, invoices and delivery documents for Accounts or other Receivables created by any Loan Party, (iii) copies of shipping and delivery documents for Inventory and
Equipment acquired by any Loan Party, and (iv) test verifications; 
 (g) Promptly, deliver to Agent (i) current
certificates of insurance and loss payee endorsements for all insurance policies which Loan Parties and their Subsidiaries are required to maintain pursuant to Section 4.10, immediately following the renewal of each such policy and any
amendments thereto; and (ii) such other reports and information as to the Collateral, Loan Parties or their Subsidiaries as Agent shall request from time to time in its Permitted Discretion; and 

(h) Promptly upon the occurrence thereof, deliver to Agent notice of termination or breach of any Material Contract of a Loan Party or
any of their Subsidiaries which could reasonably be expected to result in a Material Adverse Effect; 
 (i) All Collateral
reporting which shall be provided to Agent pursuant to this Sections 9.2 shall be delivered to Agent electronically (or other manner reasonably satisfactory to Agent) and in form and substance satisfactory to Agent. All such reports are solely for
Agent’s convenience in maintaining records of the Collateral, and any Loan Party’s failure to deliver any of such reports to Agent shall not affect, terminate, modify or otherwise limit Agent’s Lien with respect to the Collateral.
Agent shall have the right to confirm and verify all Receivables by any manner and through any medium it considers advisable and do whatever it may deem reasonably necessary to protect its interests hereunder. 

9.3 Environmental Reports. 
 Furnish Agent, concurrently with the delivery of the financial statements referred to in Sections 9.7 and 9.8, with a certificate signed by a Responsible Officer of Administrative Borrower stating, to the
best of such officer’s knowledge, that each Loan Party and each of their respective Subsidiaries is in compliance in all material respects with all Environmental Laws. To the extent any Loan Party or any Subsidiary of any Loan Party is not in
compliance with any Environmental Laws, the certificate shall set forth with specificity all areas of non-compliance and the proposed action such Loan Party or Subsidiary, as applicable, will implement in order to achieve full compliance.

 9.4 Litigation. 
 Promptly (but in any event within five (5) Business Days thereafter) notify Agent in writing of (or of any judgment, settlement or other material development in) any litigation, suit or
administrative proceeding affecting any Loan Party or any Subsidiary, whether or not the claim is covered by insurance, and of (or of any material development in) any suit or administrative proceeding, which in any such matter could reasonably be
expected to (i) result in liability in excess of $250,000 or (ii) have a Material Adverse Effect. 

  
 103

 9.5 Material Occurrences. 

Promptly (but in any event within five (5) Business Days thereafter) notify Agent in writing upon the occurrence of (a) any
Event of Default or Default; (b) any event, development or circumstance whereby any financial statements or other reports furnished to Agent fail in any material respect to present fairly, in accordance with GAAP consistently applied, the
financial condition or operating results of any Loan Party or any Subsidiary of any Loan Party as of the date of such statements; (c) any accumulated retirement plan funding deficiency which, if such deficiency continued for two (2) plan
years and was not corrected as provided in Section 4971 of the Code, could subject any Loan Party or any Subsidiary of any Loan Party to a tax imposed by Section 4971 of the Code; (d) each and every default by any Loan Party or any
Subsidiary of any Loan Party which might result in the acceleration of the maturity of any Indebtedness, including the names and addresses of the holders of such Indebtedness with respect to which there is a default existing or with respect to which
the maturity has been or could be accelerated, and the amount of such Indebtedness; and (e) any other development in the business or affairs of any Loan Party or any Subsidiary of any Loan Party which could reasonably be expected to have,
either individually or in the aggregate, a Material Adverse Effect; in each case describing the nature thereof and the action Loan Parties or such Subsidiaries propose to take with respect thereto. 

9.6 Government Receivables. 
 Notify Agent promptly of any Government Receivables in excess of $250,000 in any one case. 
 9.7 Annual Financial Statements. 
 Furnish Agent and each Lender within one
hundred twenty (120) days after the end of each fiscal year of Loan Parties, financial statements of Loan Parties and their Subsidiaries on a consolidated basis, including, but not limited to, statements of income and stockholders’ equity
and cash flow from the beginning of the current fiscal year to the end of such fiscal year and the balance sheet as at the end of such fiscal year, all prepared in accordance with GAAP applied on a basis consistent with prior practices, and in
reasonable detail and reported upon without qualification by an independent certified public accounting firm selected by Loan Parties and satisfactory to Agent (the “Accountants”). The report of the Accountants shall be accompanied by
(a) copies of all management letters, exception reports or similar letters or reports received by Loan Parties or their Subsidiaries from the Accountants, and (b) a statement of the Accountants certifying that (i) they have caused
this Agreement to be reviewed, and (ii) in making the examination upon which such report was based, either no information came to their attention which to their knowledge constituted an Event of Default or a Default under this Agreement or any
related agreement or, if such information came to their attention, specifying any such Default or Event of Default, its nature, when it occurred and whether it is continuing, and such report shall contain or have appended thereto calculations which
set forth Loan Parties’ compliance with the requirements or restrictions imposed by Section 7.6. In addition, the reports shall be accompanied by a Compliance Certificate of a Responsible Officer of Administrative Borrower which shall
state that, based on an examination sufficient to permit such Responsible Officer to make an informed statement, no Default or Event of Default exists, or, if such is not the case, specifying such Default or Event of Default, its nature, when it
occurred, whether it is continuing and the steps being taken by Loan Parties with respect to such event, and such Compliance Certificate shall have appended thereto calculations which set forth Loan Parties’ compliance with the requirements or
restrictions imposed by Section 7.6. The Compliance Certificate shall also set forth a calculation of Quarterly Average Excess Availability for the purposes of determining the Applicable Margin with respect to the then current calculation
period. 

  
 104

 9.8 [Reserved.] 

9.9 Monthly Financial Statements. 
 Furnish Agent and each Lender within thirty (30) days after the end of each month or within forty-five (45) days after the end of each month that is the end of a fiscal quarter, an unaudited
balance sheet of Loan Parties and their Subsidiaries on a consolidated basis and unaudited statements of income and stockholders’ equity and cash flow of Loan Parties and their Subsidiaries on a consolidated basis reflecting results of
operations from the beginning of the fiscal year to the end of such month and for such month, prepared on a basis consistent with prior practices and complete and correct in all material respects, subject to normal and recurring year end adjustments
that individually and in the aggregate are not material to the business of Loan Parties or their Subsidiaries. Each such balance sheet, statement of income and stockholders’ equity and statement of cash flow shall set forth a comparison of the
figures for (a) the current fiscal period and the current year-to-date with the figures for the same fiscal period and year-to-date period of the immediately preceding fiscal year and (b) the projections for such fiscal period and
year-to-date period delivered pursuant to Section 5.5(b) or Section 9.12, as applicable, and shall be accompanied by an analysis and discussion of results (including a summary, discussion and analysis of all variances from the relevant
budget) prepared by senior management of Loan Parties with respect thereto, satisfactory to Agent. The financial statements shall be accompanied by a Compliance Certificate signed by a Responsible Officer of Administrative Borrower, which shall
state that, based on an examination sufficient to permit such Responsible Officer to make an informed statement, no Default or Event of Default exists, or, if such is not the case, specifying such Default or Event of Default, its nature, when it
occurred, whether it is continuing and the steps being taken by Loan Parties with respect to the events giving risk to such Default or Event of Default and, such Compliance Certificate shall have appended thereto calculations which set forth Loan
Parties’ compliance with the requirements or restrictions imposed by Section 7.6. 
 9.10 Notices re Equity
Holders; the Term Loan Documents. 
 Furnish promptly to Agent (a) with copies of such financial statements, reports and
returns as each Loan Party and their Subsidiaries shall send to its equity holders and (b) copies of all notices or reports sent or received by any Loan Party or any Subsidiary in connection with, along with all amendments, modifications and
new documents with respect to the Term Loan Documents. 

  
 105

 9.11 Additional Information. 

Furnish promptly to Agent or any requesting Lender with such additional information as Agent or such Lender shall reasonably request in
order to enable Agent or such Lender to determine whether Loan Parties are in compliance with the terms, covenants, provisions and conditions of this Agreement and the Other Documents. 

9.12 Projected Operating Budget. 
 Furnish Agent, no later than twenty (20) days prior to the beginning of each Loan Party’s fiscal years, commencing with Loan Party’s fiscal year ending December 31, 2013, a month by
month projected operating budget and cash flow of Loan Parties and their Subsidiaries on a consolidated basis for such fiscal year (including an income statement for each month and a balance sheet as at the end of the last month in each fiscal
quarter), such projections to be accompanied by a certificate signed by a Responsible Officer of Administrative Borrower to the effect that such projections have been prepared in good faith on the basis of sound financial planning practice
consistent with past budgets and financial statements. 
 9.13 Variances From Operating Budget. 

Furnish Agent and each Lender, concurrently with the delivery of the financial statements referred to in Section 9.7 and
Section 9.9, or more frequently if requested by Agent, a written report summarizing all material variances from budgets submitted by Loan Parties pursuant to Section 9.12 and a discussion and analysis by management with respect to such
variances. 
 9.14 Notice of Governmental Body Items. 

Furnish Agent with prompt (and, in any event, not more than five (5) Business Days) notice of (a) any lapse or other termination
of any Consent issued to any Loan Party or any Subsidiary of any Loan Party by any Governmental Body or any other Person that is material to the operation of any Loan Party’s or such Subsidiaries’ business, (b) any refusal by any
Governmental Body or any other Person to renew or extend any such Consent; and (c) copies of any periodic or special reports filed by any Loan Party or any Subsidiary of any Loan Party with any Governmental Body or Person, if such reports
indicate any material change in the business, operations, affairs or condition of any Loan Party or any such Subsidiary, or if copies thereof are requested by Agent or any Lender, (d) copies of any material notices and other communications from
any Governmental Body or Person which specifically relate to any Loan Party or any Subsidiary of any Loan Party and (e) any federal, state, local or other income tax return of any Loan Party or Subsidiary that has been filed becoming the
subject of an audit. 

  
 106

 9.15 ERISA Notices and Requests. 

Furnish Agent with immediate written notice in the event that (a) any Loan Party, any Subsidiary of any Loan Party or any member of
the Controlled Group knows or has reason to know that a Termination Event has occurred, together with a written statement describing such Termination Event and the action, if any, which such Loan Party, such Subsidiary of any Loan Party or member of
the Controlled Group has taken, is taking, or proposes to take with respect thereto and, when known, any action taken or threatened by the IRS, Department of Labor or PBGC with respect thereto, (b) any Loan Party, any Subsidiary of any Loan
Party or any member of the Controlled Group knows or has reason to know that a prohibited transaction (as defined in Sections 406 of ERISA and 4975 of the Code) has occurred, together with a written statement describing such transaction and the
action which such Loan Party, such Subsidiary of any Loan Party or any member of the Controlled Group has taken, is taking or proposes to take with respect thereto, (c) a funding waiver request has been filed with respect to any Title IV Plan
together with all communications received by any Loan Party, any Subsidiary of any Loan Party or any member of the Controlled Group with respect to such request, (d) any increase in the benefits of any existing Title IV Plan or the
establishment of any new Title IV Plan or the commencement of contributions to any Title IV Plan to which any Loan Party, any Subsidiary of any Loan Party or any member of the Controlled Group was not previously contributing shall occur,
(e) any Loan Party, any Subsidiary of any Loan Party or any member of the Controlled Group shall receive from the PBGC a notice of intention to terminate a Title IV Plan or to have a trustee appointed to administer a Title IV Plan, together
with copies of each such notice, (f) any Loan Party, any Subsidiary of any Loan Party or any member of the Controlled Group shall receive any favorable or unfavorable determination letter from the IRS regarding the qualification of a Title IV
Plan, together with copies of each such letter; (g) any Loan Party, any Subsidiary of any Loan Party or any member of the Controlled Group shall receive a notice regarding the imposition of withdrawal liability, together with copies of each
such notice; (h) any Loan Party, any Subsidiary of any Loan Party or any member of the Controlled Group shall fail to make a required installment or any other required payment under Section 412 of the Code on or before the due date for
such installment or payment; (i) any Loan Party, any Subsidiary of any Loan Party or any member of the Controlled Group knows that a (i) Multiemployer Plan has been terminated, (ii) the administrator or plan sponsor of a Multiemployer
Plan intends to terminate a Multiemployer Plan, or (iii) the PBGC has instituted or will institute proceedings under Section 4042 of ERISA to terminate a Multiemployer Plan. 

9.16 Notice of Change in Management, Etc. 
 Furnish Agent with prompt (and, in any event, not more than five (5) Business Days) notice of any person becoming after the date hereof an officer, director or member of the senior management of any
Loan Party. 
 9.17 Additional Documents. 
 Execute and deliver to Agent, upon request, such documents and agreements as Agent may, from time to time, request in its Permitted Discretion from any Loan Party to carry out the purposes, terms or
conditions of this Agreement and the Other Documents. 
 10. EVENTS OF DEFAULT. 

The occurrence of any one or more of the following events shall constitute an “Event of Default”: 

10.1 Failure by any Loan Party to pay (a) the principal or interest payment when due and payable, and (b) any other Obligations
within three (3) days of when such Obligations are due and payable, whether at maturity or by reason of acceleration pursuant to the terms of this Agreement or any Other Document; 

  
 107

 10.2 Failure by Loan Parties to perform, keep or observe: 

(a) any provision of Sections 4.9, 4.10, 4.14(h), 7, 9.2(a), 9.2(b), 9.2(c), 9.5(a), 9.7 or 9.9; 

(b) any provision of Sections 4.2, 9.2 (other than Sections specified in the foregoing clause (a)), 9.4, 9.5, 9.12 or 9.13, which is not
cured within five (5) days after the date thereof; provided, that, such five (5) day period shall not apply in the case of any failure to observe any such provision which is not capable of being cured at all; or 

(c) any other provision of this Agreement or any provision of any Other Document (to the extent such breach is not otherwise embodied in
any other provision of this Section 10 for which a different grace or cure period is specified or which constitute an immediate Event of Default under this Agreement or the Other Documents), which is not cured within thirty (30) days after
the date thereof; provided, that, such thirty (30) day period shall not apply in the case of any failure to observe any such provision which is not capable of being cured at all; 

10.3 Any representation or warranty made or deemed made by any Loan Party in this Agreement or any Other Document or in any certificate,
document or financial or other statement furnished at any time in connection herewith or therewith shall prove to have been misleading in any material respect (without duplication of any materiality qualifiers already set forth herein) on the date
when made or deemed to have been made; 
 10.4 Except for Permitted Encumbrances, issuance of a notice of Lien, levy,
assessment, injunction or attachment against a material portion of any Loan Party’s or any Subsidiary of any Loan Party’s property which is not stayed or bonded pending appeal or lifted within thirty (30) days; 

10.5 Any judgment or judgments for payment of money are rendered or judgment Liens for payment of money filed against one or more Loan
Parties or Subsidiaries of Loan Parties for an amount, individually or in the aggregate (to the extent not covered by independent third party insurance where the insurer has not denied or disputed coverage in writing), in excess of $1,000,000, which
within thirty (30) days of such rendering or filing is not either satisfied, stayed or discharged of record; or any action is taken to enforce any Lien over the assets of any Loan Party (or any analogous procedure or step is taken in any
jurisdiction) for an amount, individually or in the aggregate, in excess of $1,000,000; 
 10.6 Any Loan Party or any Subsidiary
of any Loan Party shall (a) apply for, consent to or suffer the appointment of, or the taking of possession by, a receiver, custodian, trustee, liquidator or similar fiduciary of itself or of all or a substantial part of its property,
(b) admit in writing its inability, or be generally unable, to pay its debts as they become due or cease operations of its present business, (c) make a general assignment for the benefit of creditors, (d) commence a voluntary case
under any state, federal or other bankruptcy laws (as now or hereafter in effect), (e) be adjudicated a bankrupt or insolvent, (f) file a petition seeking to take advantage of any other law providing for the relief of debtors,
(g) acquiesce to, or fail to have dismissed, within forty-five (45) days, any petition filed against it in any involuntary case under such bankruptcy laws, or (h) take any action for the purpose of effecting any of the foregoing;

  
 108

 10.7 Any Lien created hereunder or provided for hereby or under any Other Document in any
Collateral having a value in excess of $750,000 for any reason ceases to be or is not a valid and perfected Lien having a first priority interest (except with respect to the Term Loan Priority Collateral (subject to the Term Loan Intercreditor
Agreement) and except for Permitted Encumbrances and as otherwise expressly permitted herein); 
 10.8 Any default under
(a) any of the Term Loan Documents, which default continues for more than the applicable cure period, if any, with respect thereto, or (b) any other documents, instruments or agreements to which any Loan Party, any Subsidiary or any Loan
Party is a party or by which any of its properties is bound, relating to any Indebtedness (other than the Obligations) individually or in aggregate in excess of $500,000, which default continues for more than the applicable cure period, if any, with
respect thereto; 
 10.9 Any of the Obligations for any reason shall cease to be permitted debt under the Term Loan Documents;

 10.10 Any Change of Control shall occur; 
 10.11 Any material provision hereof or of any of the Other Documents (other than provisions relating to the creation, validity, or perfection of a Lien) shall for any reason cease to be valid, binding and
enforceable with respect to any Loan Party hereto or thereto in accordance with its terms, or any such Loan Party shall challenge the enforceability hereof or thereof, or shall assert in writing, or take any action or fail to take any action based
on the assertion that any material provision hereof or of any of the Other Documents (other than provisions relating to the creation, validity, or perfection of a Lien) has ceased to be or is otherwise not valid, binding or enforceable in accordance
with its terms; 
 10.12 The indictment by any Governmental Body of any Loan Party or any Subsidiary of any Loan Party of which
any Loan Party, such Subsidiary or Agent receives notice, in either case, as to which there is a reasonable possibility of an adverse determination, in the good faith determination of Agent, under any criminal statute, or commencement or threatened
commencement of criminal proceedings against such Loan Party or such Subsidiary, pursuant to which criminal statute or proceedings the penalties or remedies sought or available include forfeiture of (a) any of the Collateral having a value in
excess of $500,000 or (b) any other property of any Borrower, or of Loan Parties and their Subsidiaries taken as a whole, which is necessary or material to the conduct of any Borrower’s business or Loan Parties and their Subsidiaries taken
as a whole; 
 10.13 Any material portion of the Collateral shall be seized or taken by a Governmental Body, or any Loan Party
or the title and rights of any Loan Party in and to any material portion of the Collateral shall have become the subject matter of litigation which might, in the opinion of Agent, upon final determination, result in impairment or loss of the
security provided by this Agreement or the Other Documents; 
 10.14 The operations of any Loan Party’s or any
Subsidiary’s facilities is interrupted in any material respect by virtue of any determination, ruling, decision, decree or order of any court or Governmental Authority of competent jurisdiction, and such interruption could reasonably be
expected to have, either individually or in the aggregate, a Material Adverse Effect; or 

  
 109

 10.15 An event or condition specified in Section 7.16 or Section 9.15 shall occur
or exist with respect to any Plan and, as a result of such event or condition, together with all other such events or conditions, any Loan Party or any member of the Controlled Group shall incur a liability to a Plan or the PBGC (or both) in excess
of $500,000. 
 11. LENDERS’ RIGHTS AND REMEDIES AFTER EVENT OF DEFAULT. 

11.1 Rights and Remedies. 
 (a) Upon the occurrence of (i) an Event of Default pursuant to Section 10.6, all Obligations shall be immediately due and payable and this Agreement and the obligation of Lenders to make
Advances shall be deemed terminated, (ii) any of the other Events of Default and at any time thereafter, Agent may (and at the direction of Required Lenders, shall) declare that all or any portion of the Obligations shall be immediately due and
payable and Agent or Required Lenders shall have the right to terminate this Agreement and to terminate or limit the obligation of Lenders to make Advances (including, without limitation, reducing the lending formulas or amounts of Revolving
Advances and Letters of Credit available to the Borrowers), and (iii) a filing of a petition against any Loan Party in any involuntary case under any state, federal or other bankruptcy laws, the obligation of Lenders to make Advances hereunder
shall be terminated other than as may be required by an appropriate order of the bankruptcy court having jurisdiction over any Loan Party. Upon the occurrence and during the continuance of any Event of Default, Agent shall have the right to exercise
any and all other rights and remedies provided for herein, under the UCC, the PPSA and at law or equity generally, including, without limitation, the right to foreclose the Liens granted herein and in the Other Documents and to realize upon any
Collateral by any available judicial procedure and/or to take possession of and sell any or all of the Collateral with or without judicial process. Agent may enter any Loan Party’s premises or other premises without legal process and without
incurring liability to any Loan Party therefor, and Agent may thereupon, or at any time thereafter, in its discretion, without notice or demand, take the Collateral and remove the same to such place as Agent may deem advisable and Agent may require
Loan Parties to make the Collateral available to Agent at a convenient place. With or without having the Collateral at the time or place of sale, Agent may sell the Collateral, or any part thereof, at public or private sale, at any time or place, in
one or more sales, at such price or prices, and upon such terms, either for cash, credit or future delivery, as Agent may elect. Except as to that part of the Collateral which is perishable or threatens to decline speedily in value or is of a type
customarily sold on a recognized market, Agent shall give Loan Parties reasonable notification of such sale or sales, it being agreed that in all events written notice mailed to Loan Parties at least ten (10) days prior to such sale or sales is
reasonable notification. At any public sale Agent or any Lender may bid for and become the purchaser, and Agent, any Lender or any other purchaser at any such sale thereafter shall hold the Collateral sold absolutely free from any claim or right of
whatsoever kind, including any equity of redemption and such right and equity are hereby expressly waived and released by each Loan Party. Agent may specifically disclaim any warranties of title or the like at any sale of Collateral. In connection
with the exercise of the foregoing remedies, Agent shall have the right to use all of each Loan Party’s Intellectual Property and other proprietary rights (subject to any licenses and other usage rights therein granted in favor of other
Persons) which are used in connection with (A) Inventory for the purpose of disposing of such Inventory and (B) Equipment for the purpose of completing the manufacture of unfinished goods, in each case without any obligation to compensate
any Loan Party therefor. 

  
 110

 (b) Agent may seek the appointment of a receiver, interim receiver, manager or receiver and
manager (a “Receiver”) under the laws of Canada or any province thereof to take possession of all or any portion of the Collateral of Canadian Guarantor or to operate same and, to the maximum extent permitted by law, may seek the
appointment of such a Receiver without the requirement of prior notice or a hearing. Any such Receiver shall, to the extent permitted by law, so far as concerns responsibility for his/her acts, be deemed agent of Canadian Guarantor and not Agent and
the Lenders, and Agent and the Lenders shall not be in any way responsible for any misconduct, negligence or non-feasance on the part of any such Receiver, his/her servants or employees, absent the gross negligence or willful misconduct of the Agent
or the Lenders as determined pursuant to a final, non-appealable order of a court of competent jurisdiction. Subject to the provisions of the instrument appointing him/her, any such Receiver shall have power to take possession of Collateral of
Canadian Guarantor, to preserve Collateral of Canadian Guarantor or its value, to carry on or concur in carrying on all or any part of the business of such Loan Party and to sell, lease, license or otherwise dispose of or concur in selling, leasing,
licensing or otherwise disposing of Collateral of Canadian Guarantor. To facilitate the foregoing powers, any such Receiver may, to the exclusion of all others, including Canadian Guarantor, enter upon, use and occupy all premises owned or occupied
by Canadian Guarantor wherein Collateral of Canadian Guarantor may be situated, maintain Collateral of Canadian Guarantor upon such premises, borrow money on a secured or unsecured basis and use Collateral of Canadian Guarantor directly in carrying
on Canadian Guarantor’s business or as security for loans or advances to enable the Receiver to carry on Canadian Guarantor’s business or otherwise, as such Receiver shall, in its discretion, determine. Except as may be otherwise directed
by Agent, all money received from time to time by such Receiver in carrying out his/her appointment shall be received in trust for and paid over to Agent. Every such Receiver may, in the discretion of Agent, be vested with all or any of the rights
and powers of Agent and the Lenders. Agent may, either directly or through its nominees, exercise any or all powers and rights given to a Receiver by virtue of the foregoing provisions of this paragraph. 

(c) Agent may execute any of its rights and remedies under this Agreement by or through agents, employees or attorneys-in-fact and shall
be entitled to advice of counsel and other consultants or experts concerning all matters pertaining to such rights and remedies. Agent shall not be responsible for the negligence or misconduct of any agents or attorneys-in-fact selected by Agent
with reasonable care absent the gross (not mere) negligence or willful misconduct of the Agent or the Lenders as determined pursuant to a final, non-appealable order of a court of competent jurisdiction. Agent may also from time to time, when the
Agent deems it to be necessary or desirable, appoint one or more trustees, co-trustees, collateral co-agents, collateral subagents or attorneys-in-fact (each, a “Subagent”) with respect to all or any part of the Collateral of Canadian
Guarantor; provided, that, no such Subagent shall be authorized to take any action with respect to any such Collateral unless and except to the extent expressly authorized in writing by Agent. Should any instrument in writing from
Agent be required by any Subagent so appointed by Agent to more fully or certainly vest in and confirm to such Subagent such rights, powers, privileges and duties, Canadian Guarantor shall execute, acknowledge and deliver any and all such
instruments promptly upon request by Agent. If any Subagent, or successor thereto, shall die, become incapable of acting, resign or be removed, all rights, powers, privileges and duties of such Subagent, to the extent permitted by law, shall
automatically vest in and be exercised by Agent until the appointment of a new Subagent. Agent shall not be responsible for the negligence or misconduct of any agent, attorney-in-fact or Subagent that it selects in accordance with the foregoing
provisions of this Section in the absence of Agent’s gross (not mere) negligence or willful misconduct as determined pursuant to a final, non-appealable order of a court of competent jurisdiction (but such agent, attorney-in-fact or Subagent
may be responsible for their own gross (not mere) negligence or willful misconduct as determined pursuant to a final, non-appealable order of a court of competent jurisdiction). 

  
 111

 11.2 Waterfall. 

(a) So long as no Waterfall Event has occurred and is continuing and except as otherwise provided with respect to Defaulting Lenders, all
principal and interest payments, shall be apportioned ratably among the Lenders (according to their Commitment Percentages thereof) and all payments of fees, costs and expenses (other than fees, costs or expenses that are for Agent’s or any
Lender’s separate account) shall be apportioned ratably among the Lenders according to their Commitment Percentages thereof (it being understood that all costs and expenses due and owing to Agent, and all principal and interest of Advances
(including Protective Advances) made by Agent and not reimbursed by Lenders, shall first be paid in full before any such payments are made to any of the Lenders). Payments for the purposes of this clause (a) shall include proceeds of Collateral
received by Agent. 
 (b) At any time that a Waterfall Event has occurred and is continuing and except as otherwise provided
with respect to Defaulting Lenders, all payments remitted to Agent and all proceeds of Collateral received by Agent shall be applied to the Obligations as follows (it being understood that in the event that any Lender, as opposed to Agent, receives
such payment or proceeds from any source other than Agent, such Lender shall remit such payment or proceeds, as applicable to Agent for application to the Obligations as provided in this Agreement): first, to the Obligations consisting
of costs and expenses (including attorneys’ fees and expenses) incurred by Agent in connection with this Agreement or any Other Document and to the principal and interest of Advances (including Protective Advances and Swingline Loan Advances)
made by Agent and not reimbursed by Lenders until paid in full; second, pro rata to interest due to Lenders upon any of the Advances and to the Obligations consisting of costs and expenses (including attorneys’ fees and expenses)
incurred by Lenders in connection with (and to the extent payable or reimbursable to Lenders under) this Agreement or any Other Document according to their respective Commitment Percentages thereof until paid in full; third, pro rata
to fees due to Agent and the Lenders in connection with this Agreement or any Other Document according to their respective Commitment Percentages thereof until paid in full; fourth, to the principal of the Swingline Loan Advances made
by the Swingline Lender; fifth, pro rata to the principal of the Advances made by each Lender according to their respective Commitment Percentages thereof and, after an Event of Default pursuant to Section 10.6 or if requested by
Agent or Required Lenders after the occurrence of any other Event of Default, on a pro rata basis, to furnish to Agent cash collateral in an amount not less than one hundred five (105%) percent of the aggregate undrawn amount of all Letters of
Credit, such cash collateral arrangements to be in form and substance reasonably satisfactory to Agent until paid in full; sixth, pro rata to any other Obligations (other than Bank Product Obligations) until paid in full; and
seventh, pro rata to any Bank Product Obligations until paid in full. 
 (c) If any deficiency shall arise, Loan
Parties shall remain liable to Agent and Lenders therefor. If it is determined by an authority of competent jurisdiction that a disposition by Agent did not occur in a commercially reasonably manner, Agent may obtain a deficiency judgment for the
difference between the amount of the Obligation and the amount that a commercially reasonable sale would have yielded. Agent will not be considered to have offered to retain the Collateral in satisfaction of the Obligations unless Agent has entered
into a written agreement with Loan Party to that effect. 

  
 112

 11.3 Agent’s Discretion. 

Agent shall have the right in its Permitted Discretion to determine which rights, Liens or remedies Agent may at any time pursue,
relinquish, subordinate, or modify or to take any other action with respect thereto and such determination will not in any way modify or affect any of Agent’s or Lenders’ rights hereunder. 

11.4 Setoff. 
 In addition to any other rights and remedies which Agent, any Lender or any Issuer may have under applicable law, this Agreement or any Other Document, upon the occurrence and during the continuance of an
Event of Default hereunder, Agent, such Lender, such Issuer and their Affiliates shall have a right to setoff and apply any Loan Party’s property held by Agent, such Lender, such Issuer or such Affiliate to reduce the Obligations, all without
notice to Loan Parties. No Lender, Issuer or Affiliate shall setoff or apply such property without the prior written consent of Agent. 
 11.5 Rights and Remedies not Exclusive. 
 The enumeration of the foregoing
rights and remedies is not intended to be exhaustive and the exercise of any right or remedy shall not preclude the exercise of any other right or remedies provided for herein or otherwise provided by law, all of which shall be cumulative and not
alternative. 
 11.6 Commercial Reasonableness. 
 To the extent that applicable law imposes duties on Agent or any Lender to exercise remedies in a commercially reasonable manner (which duties cannot be waived under such law), each Loan Party
acknowledges and agrees that it is not commercially unreasonable for Agent or any Lender (a) to fail to incur expenses reasonably deemed necessary or appropriate by Agent or any Lender to prepare Collateral for disposition or otherwise to
complete raw material or work in process into finished goods or other finished products for disposition, (b) to fail to obtain third party consents for access to Collateral to be disposed of, or to obtain or, if not required by other law, to
fail to obtain consents of any Governmental Body or other third party for the collection or disposition of Collateral to be collected or disposed of, (c) to fail to exercise collection remedies against account debtors, secondary obligors or
other Persons obligated on Collateral or to remove Liens or encumbrances on or any adverse claims against Collateral, (d) to exercise collection remedies against account debtors and other Persons obligated on Collateral directly or through the
use of collection agencies and other collection specialists, (e) to advertise dispositions of Collateral through publications or media of general circulation, whether or not the Collateral is of a specialized nature, (f) to contact other
Persons, whether or not in the same business as any Loan Party, for expressions of interest in acquiring all or any portion of the Collateral, (g) to hire one or more professional auctioneers to assist in the disposition of Collateral, whether
or not the collateral is of a specialized nature, (h) to dispose of Collateral by utilizing Internet sites that provide for the auction of assets of the types included in the Collateral or that have the reasonable capability of doing so, or
that match buyers and sellers of assets, (i) to dispose of assets in wholesale rather than retail markets, (j) to disclaim disposition warranties, (k) to purchase insurance or credit enhancements to insure Agent or Lenders against
risks of loss, collection or disposition of Collateral or to provide to Agent or Lenders a guaranteed return from the collection or disposition of Collateral, or (l) to the extent deemed appropriate by Agent, to obtain the services of other
brokers, investment bankers, consultants and other professionals to assist Agent in the collection or disposition of any of the Collateral. Each Loan Party acknowledges that the purpose of this Section is to provide non-exhaustive indications of
what actions or omissions by Agent or any Lender would not be commercially unreasonable in the exercise by Agent or any Lender of remedies against the Collateral and that other actions or omissions by Agent or any Lender shall not be deemed
commercially unreasonable solely on account of not being indicated in this Section. Without limitation of the foregoing, nothing contained in this Section shall be construed to grant any rights to any Loan Party or to impose any duties on Agent or
Lenders that would not have been granted or imposed by this Agreement or by applicable law in the absence of this Section. 

  
 113

 12. WAIVERS AND JUDICIAL PROCEEDINGS. 

12.1 Waiver of Notice. 
 Each Loan Party hereby waives notice of non-payment of any of the Receivables, demand, presentment, protest and notice thereof with respect to any and all instruments, notice of acceptance hereof, notice
of loans or advances made, credit extended, Collateral received or delivered, or any other action taken in reliance hereon, and all other demands and notices of any description, except such as are expressly provided for herein or as otherwise by
law. 
 12.2 Delay. 
 No delay or omission on Agent’s or any Lender’s part in exercising any right, remedy or option shall operate as a waiver of such or any other right, remedy or option or of any Default or Event
of Default. 
 12.3 Jury Waiver. 
 EACH PARTY TO THIS AGREEMENT HEREBY EXPRESSLY WAIVES ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION OR CAUSE OF ACTION (A) ARISING UNDER THIS AGREEMENT OR ANY OTHER DOCUMENT, OR (B) IN
ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO OR ANY OF THEM WITH RESPECT TO THIS AGREEMENT OR ANY OTHER DOCUMENT, OR THE TRANSACTIONS RELATED HERETO OR THERETO IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER
ARISING, AND WHETHER SOUNDING IN CONTRACT OR TORT OR OTHERWISE AND EACH PARTY HEREBY CONSENTS THAT ANY SUCH CLAIM, DEMAND, ACTION OR CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY, AND THAT ANY PARTY TO THIS AGREEMENT MAY FILE AN
ORIGINAL COUNTERPART OR A COPY OF THIS SECTION WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENTS OF THE PARTIES HERETO TO THE WAIVER OF THEIR RIGHT TO TRIAL BY JURY. 

  
 114

 12.4 Waiver of Counterclaims. 

Each Loan Party waives all rights to interpose any claims, deductions, setoffs or counterclaims of any nature (other then compulsory
counterclaims) in any action or proceeding with respect to this Agreement, the Obligations, the Collateral or any matter arising therefrom or relating hereto or thereto. 
 13. EFFECTIVE DATE AND TERMINATION. 
 13.1 Term. 

This Agreement, which shall inure to the benefit of and shall be binding upon the respective successors and permitted assigns of each Loan
Party, Agent and each Lender, shall become effective on the date hereof and shall continue in full force and effect until the earliest of (a) April 30, 2017 (the “Original Term”), (b) the date that is six (6) months
prior to the stated maturity date under the Term Loan Documents, (c) the acceleration of all Obligations pursuant to the terms of this Agreement or (d) the date on which this Agreement shall be terminated in accordance with the provisions
hereof or by operation of law (the “Termination Date”). Loan Parties may terminate this Agreement at any time upon ninety (90) days’ prior written notice upon Payment in Full of all of the Obligations. 

13.2 Termination. 
 The termination of the Agreement shall not affect any Loan Party’s, Agent’s or any Lender’s rights, or any of the Obligations arising or incurred prior to the effective date of such
termination, and each of the provisions of this Agreement and of the Other Documents shall continue to be fully operative until all of the Obligations have been Paid in Full. The Liens and rights granted to Agent and Lenders hereunder and the
financing statements filed hereunder shall continue in full force and effect, notwithstanding the termination of this Agreement or the fact that the Borrowers’ Account may from time to time be temporarily in a zero or credit position, until all
of the Obligations have been Paid in Full. Accordingly, each Loan Party waives any rights which it may have under Section 9-513 of the UCC to demand the filing of termination statements with respect to the Collateral, and Agent shall not be
required to send such termination statements to each Loan Party, or to file them with any filing office, until all of the Obligations have been Paid in Full. All representations, warranties, covenants, waivers and agreements contained herein and in
the Other Documents shall survive termination hereof until all of the Obligations have been Paid in Full. 
 14. REGARDING AGENT.

 14.1 Appointment. 
 Each Lender hereby designates TD Bank to act as Agent for such Lender under this Agreement and the Other Documents. Each Lender hereby irrevocably authorizes Agent to take such action on its behalf under
the provisions of this Agreement and the Other Documents and to exercise such powers and to perform such duties hereunder and thereunder as are specifically delegated to or required of Agent by the terms hereof and thereof and such other powers as
are reasonably incidental thereto. Agent may perform any of its duties hereunder by or through its agents or employees. As to any matters not expressly provided for by this Agreement (including without limitation, collection of the Notes) Agent
shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Lenders, and such
instructions shall be binding; provided, however, that, Agent shall not be required to take any action which exposes Agent to liability or which is contrary to this Agreement or the Other Documents or applicable law unless Agent
agrees to do so in its Permitted Discretion and is furnished with an indemnification satisfactory to Agent in its Permitted Discretion with respect thereto. 

  
 115

 14.2 Nature of Duties. 

Agent shall have no duties or responsibilities except those expressly set forth in this Agreement and the Other Documents. None of Agent,
any Lender, or any Issuer nor any of their respective officers, directors, employees or agents shall be (a) liable for any action taken or omitted by them as such under this Agreement or any Other Document or in connection herewith or
therewith, unless caused by their gross (not mere) negligence or willful misconduct, as determined pursuant to a final, non-appealable order of a court of competent jurisdiction, or (b) responsible in any manner for any recitals, statements,
representations or warranties made by any Loan Party or any officer thereof contained in this Agreement, or in any of the Other Documents or in any certificate, report, statement or other document referred to or provided for in, or received by Agent
under or in connection with, this Agreement or any of the Other Documents or for the value, validity, effectiveness, genuineness, enforceability or sufficiency of this Agreement, or any of the Other Documents or for any failure of Loan Party to
perform its obligations hereunder. Agent shall not be under any obligation to any Lender to ascertain or to inquire as to the observance or performance of any of the agreements contained in, or conditions of, this Agreement or any of the Other
Documents, or to inspect or appraise the properties, books or records of any Loan Party or any other Person. The duties of Agent in respect of the Advances shall be mechanical and administrative in nature; Agent shall not have by reason of this
Agreement or any Other Document a fiduciary relationship in respect of any Secured Party, nor shall the Agent constitute a trustee in respect of any Secured Party; and nothing in this Agreement or any Other Document, expressed or implied, is
intended to or shall be so construed as to impose upon Agent any obligations in respect of this Agreement or any Other Document except as expressly set forth herein or therein. 

14.3 Lack of Reliance on Agent and Resignation. 
 (a) Independently and without reliance upon Agent, any Issuer or any other Lender, each Lender has made and shall continue to make (i) its own independent investigation of the financial condition and
affairs of each Loan Party and each other Person in connection with the making and the continuance of the Advances hereunder and the taking or not taking of any action in connection with this Agreement or any Other Document, and (ii) its own
appraisal of the creditworthiness of each Loan Party and each other Person. Agent shall have no duty or responsibility, either initially or on a continuing basis, to provide any Lender with any credit or other information with respect thereto,
whether coming into its possession before making of the Advances or at any time or times thereafter except to the extent, if any, expressly required in this Agreement. Agent shall not be responsible to any Lender for any recitals, statements,
information, representations or warranties herein or in any agreement, document, certificate or a statement delivered in connection with or for the execution, effectiveness, genuineness, validity, enforceability, perfection, priority, collectability
or sufficiency of this Agreement or any Other Document, the Collateral, or of the financial condition of any Loan Party or any other Person, or be required to make any inquiry concerning either the performance or observance of any of the terms,
provisions or conditions of this Agreement, the Note, the Other Documents, the Collateral, or the financial condition of any Loan Party or any other Person, or the existence of any Event of Default or any Default. 

  
 116

 (b) Agent may resign on thirty (30) days’ written notice to each of Lenders and
Administrative Borrower and upon such resignation, the Required Lenders will promptly designate a successor Agent with the consent to Administrative Borrower, which consent of Administrative Borrower shall not be unreasonably withheld, conditioned
or delayed (provided, that, if an Event of Default has occurred and is continuing, no such consent of Administrative Borrower shall be required). If no such successor Agent is appointed at the end of such thirty (30) day period,
Agent may designate one of the Lenders as a successor Agent, and shall give Administrative Borrower prompt notice of such appointment. If no Lender accepts such designation, Required Lenders shall serve as the successor Agent, and Agent shall remain
entitled to so resign. 
 (c) Any such successor Agent shall succeed to the rights, powers and duties of Agent, and the term
“Agent” shall mean such successor agent effective upon its appointment, and the former Agent’s powers and duties as Agent shall be terminated, without any other or further act or deed on the part of such former Agent. After any
Agent’s resignation as Agent, the provisions of this Section 14, Section 16.5 and Section 16.10 shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Agent under this Agreement. 

14.4 Certain Rights of Agent. 
 If Agent shall request instructions from Lenders with respect to any act or action (including failure to act) in connection with this Agreement or any Other Document, Agent shall be entitled to refrain
from such act or taking such action unless and until Agent shall have received instructions from the Required Lenders; and Agent shall not incur liability to any Person by reason of so refraining. Without limiting the foregoing, Lenders shall not
have any right of action whatsoever against Agent as a result of its acting or refraining from acting hereunder in accordance with the instructions of the Required Lenders. 
 14.5 Reliance. 
 Agent shall be entitled to rely, and shall be fully
protected in relying, upon any note, writing, resolution, notice, statement, certificate, telex, teletype or facsimile message, cablegram, email, order or other document or telephone message believed by it to be genuine and correct and to have been
signed, sent or made by the proper Person, and, with respect to all legal matters pertaining to this Agreement and the Other Documents and its duties hereunder, upon advice of counsel selected by it. Agent may employ agents and attorneys-in-fact and
shall not be liable for the default or misconduct of any such agents or attorneys-in-fact selected by Agent with reasonable care. 

  
 117

 14.6 Notice of Default. 

Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under the Other
Documents, unless Agent has received notice from a Lender or Administrative Borrower referring to this Agreement or the Other Documents, describing such Default or Event of Default and stating that such notice is a “notice of default”. In
the event that Agent receives such a notice, Agent shall give notice thereof to Lenders. Subject to Section 14.1, Agent shall take such action with respect to such Default or Event of Default (including, without limitation, the institution of
the Default Rate pursuant to Section 3.1) as shall be reasonably directed by the Required Lenders; provided, that, unless and until Agent shall have received such directions, Agent may (but shall not be obligated to) take such
action, or refrain from taking such action, with respect to such Default or Event of Default (including, without limitation, the institution of the Default Rate pursuant to Section 3.1) as it shall deem advisable in the best interests of
Lenders. 
 14.7 Indemnification. 
 To the extent Agent and/or Issuer, as applicable, is not timely reimbursed and indemnified by Loan Parties, each Lender promptly will reimburse and indemnify Agent and each Issuer and each of their
respective officers, directors, Affiliates, employees, representatives and agents in proportion to its respective Commitment Percentage from and against any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits,
costs, expenses and disbursements of any kind or nature whatsoever (including, without limitation, fees and disbursements of counsel) arising from any action, litigation, proceeding, dispute or investigation which may be imposed on, incurred by, or
asserted against Agent or such Issuer in any litigation, proceeding, dispute or investigation instituted or conducted by any Governmental Body or any other Person with respect to any aspect of, or any transaction contemplated by, or referred to in,
or any matter related to, this Agreement or the Other Documents, on in connection with performing any of its duties, functions or activities under this Agreement or under any Other Document, or in any way relating to or arising out of this Agreement
or any Other Document whether or not Agent or any Issuer is a party thereto, except to the extent that any of the foregoing arises out of the gross (not mere) negligence or willful misconduct of Agent or such Issuer, as determined pursuant to a
final, non-appealable order of a court of competent jurisdiction. Nothing contained in this Section 14.7 shall in any manner limit, impair, waive or otherwise affect Loan Parties’ reimbursement and indemnification Obligations at any time
owing to Agent. 
 14.8 Agent in its Individual Capacity. 

With respect any Advances made by Agent, except as otherwise provided in this Agreement, the Advances made by Agent shall have the same
rights and powers hereunder as any other Lender and as if it were not performing the duties as Agent specified herein. Agent may engage in business with any Loan Party as if it were not performing the duties specified herein, and may accept fees and
other consideration from any Loan Party for services in connection with this Agreement or otherwise without having to account for the same to Lenders. 
 14.9 Actions in Concert. 
 Anything in this Agreement to the contrary
notwithstanding, each Lender hereby agrees with each other Lender and Agent that (a) Agent shall have the exclusive right to enforce and exercise all rights and remedies of Agent and Lenders hereunder and under the Other Documents at all times
following the occurrence and during the continuance of an Event of Default, on behalf of Agent and all Lenders, subject to the direction of Required Lenders as provided for herein, and (b) no Lender shall take any action to protect or enforce
its rights arising out of this Agreement or the Other Documents (including exercising any rights of setoff or compensation) without first obtaining the prior written consent of Agent or Required Lenders, it being the intent of Lenders that any such
action to protect or enforce rights under this Agreement and the Notes shall be taken in concert and at the direction or with the consent of Agent or Required Lenders. 

  
 118

 14.10 Intercreditor Agreements/Subordination Agreements. 

The Lenders, Issuer and any other holder of any Obligations acknowledge that the Indebtedness under the Term Loan Documents are secured by
Liens on the Collateral and that the exercise of certain of the rights and remedies of Agent under the Loan Documents may be subject to the provisions of the Term Loan Intercreditor Agreement and any other subordination or intercreditor agreement
pertaining to any Subordinated Debt. Each Lender and Issuer irrevocably (a) consents to the terms and conditions of the Term Loan Intercreditor Agreement and any other subordination or intercreditor agreement pertaining to any Subordinated
Debt, (b) authorizes and directs Agent to execute and deliver the Term Loan Intercreditor Agreement, any documents relating thereto and any other subordination or intercreditor agreement pertaining to any other Subordinated Debt, in each case,
on behalf of such Lender or such Issuer and to take all actions (and execute all documents) required (or deemed advisable) by it in accordance with the terms of the Interecreditor Agreement and any other subordination or intercreditor agreement
pertaining to any other Subordinated Debt, in each case, and without any further consent, authorization or other action by such Lender or Issuer, (c) agrees that, upon the execution and delivery thereof, such Lender and Issuer will be bound by
the provisions of the Term Loan Intercreditor Agreement and any other subordination or intercreditor agreement pertaining to any other Subordinated Debt as if it were a signatory thereto and will take no actions contrary to the provisions of the
Term Loan Intercreditor Agreement and any other subordination or intercreditor agreement pertaining to any other Subordinated Debt, (d) agrees that no Lender or Issuer shall have any right of action whatsoever against Agent as a result of any
action taken by Agent pursuant to this Section or in accordance with the terms of the Term Loan Intercreditor Agreement and any other subordination or intercreditor agreement pertaining to any other Subordinated Debt, and (e) acknowledges (or
is deemed to acknowledge) that a copy of the Term Loan Intercreditor Agreement has been delivered, or made available, to such Lender and Issuer. Each Lender hereby further irrevocably authorizes and directs Agent to enter into such amendments,
supplements or other modifications to the Term Loan Intercreditor Agreement and any other subordination or intercreditor agreement pertaining to any other Subordinated Debt as are approved by Agent and the Required Lenders (except as to any
amendment that expressly requires the approval of all Lenders as set forth in Section 16.2(b)), provided, that, Agent may execute and deliver such amendments, supplements and modifications thereto as are contemplated by the Term
Loan Intercreditor Agreement and any other subordination or intercreditor agreement pertaining to any other Subordinated Debt in connection with any extension, renewal, refinancing or replacement of this Agreement or any refinancing of the
Obligations, in each case, on behalf of such Lender and Issuer and without any further consent, authorization or other action by any Lender or Issuer. Agent shall have the benefit of each of the provisions of Section 14 with respect to all
actions taken by it pursuant to this Section 14.10 or in accordance with the terms of the Term Loan Intercreditor Agreement and any other subordination or intercreditor agreement pertaining to any other Subordinated Debt to the full extent
thereof. 

  
 119

 15. GUARANTEE. 
 15.1 Guarantee; Contribution Rights. 
 Each Guarantor hereby unconditionally
guarantees, as a primary obligor and not merely as a surety, jointly and severally with each other Guarantor when and as due, whether at maturity, by acceleration, by notice of prepayment or otherwise, the due (whether at the stated maturity, by
acceleration or otherwise) and punctual performance of all Obligations. Each payment made by any Guarantor pursuant to this Guarantee shall be made in lawful money of the United States in immediately available funds without offset, counterclaim or
deduction of any kind. 
 Anything herein this Section 15 to the contrary notwithstanding, the maximum liability of each
Guarantor this Section 15 shall in no event exceed the amount which can be guaranteed by such Guarantor under applicable federal and state laws relating to the insolvency of debtors (after giving effect to the right of contribution established
in the following paragraph). It being understood that no amendments or other modifications to any of the Loan Documents need to be made to implement the provisions of this paragraph and instead the implementation of the provisions of this paragraph
shall occur automatically. 
 Each Guarantor hereby agrees that to the extent that a Guarantor shall have paid more than its
proportionate share of any payment made hereunder, such Guarantor shall be entitled to seek and receive contribution from and against any other Guarantor hereunder which has not paid its proportionate share of such payment. Each Guarantor’s
right of contribution shall be subject to the terms and conditions of Section 15.9(d). The provisions of this paragraph shall in no respect limit the obligations and liabilities of any Guarantor to Agent and Lenders, and each Guarantor shall
remain liable to Agent and Lenders for the full amount guaranteed by such Guarantor hereunder. 
 15.2 Waivers.

 Each Guarantor hereby absolutely, unconditionally and irrevocably waives (a) promptness, diligence, notice of acceptance,
notice of presentment of payment and any other notice hereunder, (b) demand of payment, protest, notice of dishonor or nonpayment, notice of the present and future amount of the Obligations and any other notice with respect to the Obligations,
(c) any requirement that Agent or any Lender protect, secure, perfect or insure any Lien or any property subject thereto or exhaust any right or take any action against any other Loan Party, or any Person or any Collateral, (d) any other
action, event or precondition to the enforcement hereof or the performance by each such Guarantor of the Obligations, (e) any defense arising by any lack of capacity or authority or any other defense of any Loan Party or any notice, demand or
defense by reason of cessation from any cause of Obligations other than Payment in Full of all of the Obligations, (f) any defense that any other guarantee or security was or was to be obtained by Agent or any Lender, and (g) any other
defense. 
 15.3 No Defense. 
 No invalidity, irregularity, voidableness, voidness or unenforceability of this Agreement or any Other Document or any other agreement or instrument relating thereto, or of all or any part of the
Obligations or of any collateral security therefor shall affect, impair or be a defense hereunder. 

  
 120

 15.4 Guarantee of Payment. 

The Guarantee hereunder is one of payment and performance, not collection, and the obligations of each Guarantor hereunder are independent
of the Obligations of the other Loan Parties, and a separate action or actions may be brought and prosecuted against any Guarantor to enforce the terms and conditions of this Section 15, irrespective of whether any action is brought against any
other Loan Party or other Persons or whether any other Loan Party or other Persons are joined in any such action or actions. Each Guarantor waives any right to require that any resort be had by Agent or any Lender to any security held for payment of
the Obligations or to any balance of any deposit account or credit on the books of Agent or any Lender in favor of any Loan Party or any other Person. No election to proceed in one form of action or proceedings, or against any Person, or on any
Obligations, shall constitute a waiver of Agent’s right to proceed in any other form of action or proceeding or against any other Person unless Agent has expressed any such right in writing. Without limiting the generality of the foregoing, no
action or proceeding by Agent against any Loan Party under any document evidencing or securing Indebtedness of any Loan Party to Agent shall diminish the liability of any Guarantor hereunder, except to the extent Agent receives actual payment on
account of Obligations by such action or proceeding, notwithstanding the effect of any such election, action or proceeding upon the right of subrogation of any Guarantor in respect of any Loan Party and/or otherwise. 

15.5 Liabilities Absolute. 
 The liability of each Guarantor hereunder shall be absolute, unlimited and unconditional and shall not be subject to any reduction, limitation, impairment, discharge or termination for any reason,
including, without limitation, any claim of waiver, release, surrender, alteration or compromise, and shall not be subject to any claim, defense or setoff, counterclaim, recoupment or termination whatsoever by reason of the invalidity, illegality or
unenforceability of any Obligation or otherwise. Without limiting the generality of the foregoing, the obligations of each Guarantor shall not be discharged or impaired, released, limited or otherwise affected by: 

(a) any change in the manner, place or terms of payment or performance, and/or any change or extension of the time of payment or
performance of, release, renewal or alteration of, or any new agreements relating to any Obligation, any security therefor, or any liability incurred directly or indirectly in respect thereof, or any rescission of, or amendment, waiver or other
modification of, or any consent to departure from, this Agreement or any Other Document, including any increase in the Obligations resulting from the extension of additional credit to the Borrowers or otherwise; 

(b) any sale, exchange, release, surrender, loss, abandonment, realization upon any property by whomsoever at any time pledged or
mortgaged to secure, or howsoever securing, all or any of the Obligations, and/or any offset there against, or failure to perfect, or continue the perfection of, any Lien in any such property, or delay in the perfection of any such Lien, or any
amendment or waiver of or consent to departure from any other guarantee for all or any of the Obligations; 
 (c) the failure of
Agent or any Lender to assert any claim or demand or to enforce any right or remedy against the Borrowers or any other Loan Party or any other Person under the provisions of this Agreement or any Other Document or any other document or instrument
executed and delivered in connection herewith or therewith; 

  
 121

 (d) any settlement or compromise of any Obligation, any security therefor or any liability
(including any of those hereunder) incurred directly or indirectly in respect thereof or hereof, and any subordination of the payment of all or any part thereof to the payment of any obligation (whether due or not) of any Loan Party to creditors of
any Loan Party other than any other Loan Party; 
 (e) any manner of application of Collateral, or proceeds thereof, to all or
any of the Obligations, or any manner of sale or other disposition of any Collateral for all or any of the Obligations or any other assets of any Loan Party; and 
 (f) any other agreements or circumstance of any nature whatsoever that may or might in any manner or to any extent vary the risk of any Guarantor, or that might otherwise at law or in equity constitute a
defense available to, or a discharge of, the Guarantee hereunder and/or the obligations of any Guarantor, or a defense to, or discharge of, any Loan Party or any other Person or party hereto or the Obligations or otherwise with respect to the
Advances, Letters of Credit or other financial accommodations to the Borrowers pursuant to this Agreement and/or the Other Documents or otherwise. 
 15.6 Waiver of Notice. 
 Except as otherwise contemplated hereunder, Agent
shall have the right to do any of the above without notice to or the consent of any Guarantor and each Guarantor expressly waives any right to notice of, consent to, knowledge of and participation in any agreements relating to any of the above or
any other present or future event relating to Obligations whether under this Agreement or otherwise or any right to challenge or question any of the above and waives any defenses of such Guarantor which might arise as a result of such actions.

 15.7 Agent’s Discretion. 
 Agent may at any time and from time to time (whether prior to or after the revocation or termination of this Agreement) without the consent of, or notice to, any Guarantor, and without incurring
responsibility to any Guarantor or impairing or releasing the Obligations, apply any sums by whomsoever paid or howsoever realized to any Obligations regardless of what Obligations remain unpaid. 

15.8 Reinstatement. 
 The Guarantee provisions herein contained shall continue to be effective or be reinstated, as the case may be, if claim is ever made upon Agent or any Lender for repayment or recovery of any amount or
amounts received by Agent or such Lender in payment or on account of any of the Obligations and Agent or such Lender repays all or part of said amount for any reason whatsoever, including, without limitation, by reason of any judgment, decree or
order of any court or administrative body having jurisdiction over Agent or such Lender or the respective property of each, or any settlement or compromise of any claim effected by Agent or such Lender with any such claimant (including any Loan
Party); and in such event each Guarantor hereby agrees that any such judgment, decree, order, settlement or compromise or other circumstances shall be binding upon such Guarantor, notwithstanding any revocation hereof or the cancellation of any note
or other instrument evidencing any Obligation, and each Guarantor shall be and remain liable to Agent and/or Lenders for the amount so repaid or recovered to the same extent as if such amount had never originally been received by Agent or such
Lenders. 

  
 122

 15.9 No Marshalling, Etc. 

(a) Agent shall not be required to marshal any assets in favor of any Guarantor, or against or in payment of Obligations. 

(b) No Guarantor shall be entitled to claim against any present or future security held by Agent or any Lender from any Person for
Obligations in priority to or equally with any claim of Agent or any Lender, or assert any claim for any liability of any Loan Party to any Guarantor in priority to or equally with claims of Agent or any Lender for Obligations, and no Guarantor
shall be entitled to compete with Agent or any Lender with respect to, or to advance any equal or prior claim to any security held by Agent or any Lender for Obligations. 
 (c) If any Loan Party makes any payment to Agent or any Lender, which payment is wholly or partly subsequently invalidated, declared to be fraudulent or preferential, set aside or required to be repaid to
any Person under any federal or provincial or other statute or at common law or under equitable principles, then to the extent of such payment, the Obligation intended to be paid shall be revived and continued in full force and effect as if the
payment had not been made, and the resulting revived Obligation shall continue to be guaranteed, uninterrupted, by each Guarantor hereunder. 
 (d) All present and future monies payable by any Loan Party or any other Guarantor to any Guarantor, whether arising out of a right of subrogation, contribution or otherwise, are assigned to Agent for its
benefit and for the ratable benefit of Lenders as security for such Guarantor’s liability to Agent and Lenders hereunder and are postponed and subordinated to Agent’s and Lenders’ prior right to Payment in Full of all of the
Obligations. Except to the extent prohibited otherwise by this Agreement, all monies received by any Guarantor from any Loan Party shall be held by such Guarantor as agent and trustee for Agent and Lenders. This assignment, postponement and
subordination shall only terminate when all of the Obligations are Paid in Full. 
 (e) Each Loan Party acknowledges this
assignment, postponement and subordination and, except as otherwise set forth herein, agrees to make no payments to any Guarantor without the prior written consent of Agent. Each Loan Party agrees to give full effect to the provisions hereof.

  
 123

 15.10 Action Upon Event of Default. 

Upon the occurrence and during the continuance of any Event of Default, Agent may and upon written request of the Required Lenders shall,
without notice to or demand upon any Loan Party, any Guarantor or any other Person, declare all or any portion of the Obligations of such Guarantor hereunder immediately due and payable, and shall be entitled to enforce the Obligations of each
Guarantor. Upon such declaration by Agent, Agent, Lenders and any of their Affiliates are hereby authorized at any time and from time to time to set off and apply any and all deposits (general or special, time or demand, provisional or final) at any
time held and other Indebtedness at any time owing by Agent or Lenders to or for the credit or the account of any Guarantor against any and all of the Obligations of each Guarantor now or hereafter existing hereunder in accordance with the terms of
this Agreement, whether or not Agent or Lenders shall have made any demand hereunder against any other Loan Party and although such Obligations may be contingent and unmatured. The rights of Agent and Lenders hereunder are in addition to other
rights and remedies (including other rights of set-off) which Agent and Lenders may have. Upon such declaration by Agent, with respect to any claims (other than those claims referred to in the immediately preceding paragraph) of any Guarantor
against any Loan Party (the “Claims”), Agent shall have the full right on the part of Agent in its own name or in the name of such Guarantor to collect and enforce such Claims by legal action, proof of debt in bankruptcy or other
liquidation proceedings, vote in any proceeding for the arrangement of debts at any time proposed, or otherwise, Agent and each of its officers being hereby irrevocably constituted attorneys-in-fact for each Guarantor for the purpose of such
enforcement and for the purpose of endorsing in the name of each Guarantor any instrument for the payment of money. Each Guarantor will receive as trustee for Agent and will pay to Agent forthwith upon receipt thereof any amounts which such
Guarantor may receive from any Loan Party on account of the Claims. Each Guarantor agrees that at no time hereafter will any of the Claims be represented by any notes or other negotiable instruments or writings, except and in such event they shall
either be made payable to Agent, or if payable to any Guarantor, shall forthwith be endorsed by such Guarantor to Agent. Each Guarantor agrees that no payment on account of the Claims or any Lien therein shall be created, received, accepted or
retained during the continuance of any Event of Default nor shall any financing statement be filed with respect thereto by any Guarantor. 
 15.11 Statute of Limitations. 
 Any acknowledgment or new promise, whether
by payment of principal or interest or otherwise and whether by any Loan Party or others (including any Lenders) with respect to any of the Obligations shall, if the statute of limitations in favor of any Guarantor against Agent or Lenders shall
have commenced to run, toll the running of such statute of limitations and, if the period of such statute of limitations shall have expired, prevent the operation of such statute of limitations. 

15.12 Interest. 
 All amounts due, owing and unpaid from time to time by any Guarantor hereunder shall bear interest at the interest rate per annum then chargeable with respect to Base Rate Loans constituting Revolving
Advances. 
 15.13 Guarantor’s Investigation. 

Each Guarantor acknowledges receipt of a copy of each of this Agreement and the Other Documents. Each Guarantor has made an independent
investigation of Loan Parties and of the financial condition of Loan Parties. Neither Agent nor any Lender has made, Agent and Lenders do not hereby make, any representations or warranties as to the income, expense, operation, finances or any other
matter or thing affecting any Loan Party nor has Agent or any Lender made any representations or warranties as to the amount or nature of the Obligations of any Loan Party to which this Section 15 applies as specifically herein set forth, nor
has Agent or any Lender or any officer, agent or employee of Agent or any Lender or any representative thereof, made any other oral representations, agreements or commitments of any kind or nature, and each Guarantor hereby expressly acknowledges
that no such representations or warranties have been made and such Guarantor expressly disclaims reliance on any such representations or warranties. 

  
 124

 15.14 Termination of Guarantee. 

Subject to reinstatement as provided in Section 15.8, the provisions of this Section 15 shall remain in effect until all of
Obligations have been Paid in Full. 
 15.15 Extension of Guarantee. 

Without prejudice to the generality of this Section 15, each Guarantor expressly confirms that it intends that the guarantee provided
in this Section 15 shall extend from time to time to any (however fundamental) variation, increase, extension or addition of or to any of the provisions of this Agreement or any Other Document and/or any facility or amount made available
hereunder or thereunder. 
 15.16 Applicability to Borrowers. 

Without limiting any of any Borrower’s obligations under this Agreement or any Other Document, each Borrower shall also be considered
a Guarantor for purposes of this Section 15 to the extent such Borrower is not directly and primarily obligated with respect to the Obligations. 
 16. MISCELLANEOUS. 
 16.1 Governing Law; Consent to Jurisdiction;
Etc. 
 This Agreement shall be governed by and construed in accordance with the laws of the State of New York applied to
contracts to be performed wholly within the State of New York, without regard to conflicts of laws principles; provided, that, the exercise of any rights and remedies with respect to the Collateral of Canadian Guarantor shall be
governed by and construed in accordance with the laws of the Province of British Columbia and the federal laws of Canada applicable thereto. Any judicial proceeding brought by or against any Loan Party with respect to any of the Obligations, this
Agreement or any Other Document may be brought in any court of competent jurisdiction located in the County and State of New York, United States of America, and, by execution and delivery of this Agreement, each Loan Party accepts for itself and in
connection with its properties, generally and unconditionally, the non-exclusive jurisdiction of the aforesaid courts, and irrevocably agrees to be bound by any judgment rendered thereby in connection with this Agreement. Each Loan Party hereby
waives personal service of any and all process upon it and consents that all such service of process may be made by registered mail (return receipt requested) directed to Administrative Borrower (on behalf of the Borrowers) at its address set forth
in Section 16.6 and service so made shall be deemed completed five (5) days after the same shall have been so deposited in the mails of the United States of America, or, at Agent’s and/or any Lender’s option, by service upon
Administrative Borrower (on behalf of the Borrowers) which each Loan Party irrevocably appoints as such Loan Party’s agent for the purpose of accepting service within the State of New York. Nothing herein shall affect the right to serve process
in any manner permitted by law or shall limit the right of Agent or any Lender to bring proceedings against any Loan Party in the courts of any other jurisdiction. Each Loan Party waives any objection to jurisdiction and venue of any action
instituted hereunder and shall not assert any defense based on lack of jurisdiction or venue or based upon forum non conveniens. Any judicial proceeding by any Loan Party against Agent or any Lender involving, directly or indirectly, any matter or
claim in any way arising out of, related to or connected with this Agreement or any Other Document (except to the extent, if any, expressly provided otherwise in any Other Document), shall be brought only in a federal or state court located in the
City of New York, State of New York. 

  
 125

 16.2 Entire Understanding; Amendments; Lender Replacements; Overadvances. 

(a) This Agreement and the Other Documents executed concurrently herewith or on or after the Closing Date contain the entire understanding
between each Loan Party, Agent and each Lender and supersedes all prior agreements and understandings, if any, relating to the subject matter hereof or thereof. Any promises, representations, warranties or guarantees of Agent or any Lender to any
Loan Party not herein contained or not contained in any Other Document executed on or after the Closing Date shall have no force and effect. Neither this Agreement nor any portion or provisions hereof may be changed, modified, amended, waived,
supplemented, discharged, cancelled or terminated orally or by any course of dealing, or in any manner other than by an agreement in writing pursuant to clause (b) below. Any Default or Event of Default that occurs hereunder shall continue
unless and until expressly waived in writing pursuant to clause (b) below. Each Loan Party acknowledges that it has been advised by counsel in connection with the execution of this Agreement and Other Documents and is not relying upon oral
representations or statements inconsistent with the terms and provisions of this Agreement. 
 (b) Agent and the Required
Lenders (or Agent with the consent in writing of the Required Lenders), and the Borrowers may, subject to the provisions of this Section 16.2(b), from time to time enter into written amendments and supplemental agreements to this Agreement or
the Other Documents executed by the Borrowers, for the purpose of adding or deleting any provisions or otherwise changing, varying or waiving in any manner the rights of Lenders, Agent or Loan Parties hereunder or thereunder or the conditions,
provisions or terms hereof or thereof or waiving any Default or Event of Default hereunder or thereunder, but only to the extent specified in such written agreements; provided, however, that, no such amendment or supplemental
agreement shall: 
 (i) increase the Commitment of any Lender without the consent of Agent and the affected Lender; 

(ii) increase the Maximum Credit without the consent of Agent and all Lenders; 

(iii) extend the Term or the final scheduled maturity of any Advance or the due date for any amount payable hereunder, or decrease the
rate of interest (other than the waiver of any default rate), reduce the principal amount of any outstanding Advances, or reduce any scheduled (as opposed to mandatory prepayment) principal payment or fee payable by the Borrowers to Agent or a
Lender pursuant to this Agreement or any Other Document, without the consent of Agent and each such Lender directly affected thereby; 
 (iv) alter the definition of the term Required Lenders or alter, amend or modify this Section 16.2(b) without the consent of Agent and all Lenders; 

  
 126

 (v) release any Collateral during any calendar year (other than in accordance with the
provisions of this Agreement, including any Disposition thereof permitted by this Agreement) having an aggregate value in excess of $5,000,000 without the consent of Agent and all Lenders; 

(vi) change the rights and duties of Agent without the consent of Agent; or 

(vii) increase the Advance Rates above the Advance Rates in effect on the Closing Date without the consent of Agent and all Lenders;

 (viii) alter the definition of the terms Borrowing Base, Eligible Accounts or Eligible Equipment in any manner which would
have the effect of increasing availability of Advances, without the consent of Agent and all Lenders; 
 (ix) release of any
Loan Party from its Obligations hereunder, except in accordance with the terms of this Agreement; 
 (x) subordinate the
priority of the Liens in the Collateral in favor of Agent, for the benefit of Secured Parties, to any Liens therein held by any other Person, without the consent of Agent and all Lenders; or 

(xi) alter the priority of allocation of payments and proceeds of Collateral provided for in Section 11.2(b) without the consent of
Agent and all Lenders. 
 Any such amendment or supplemental agreement shall apply equally to each Lender and shall be binding upon Loan
Parties, Lenders and Agent and all future holders of the Obligations. In the case of any waiver of a Default or Event of Default pursuant to a waiver provided in accordance with the above provisions of this Section 16.2(b), Loan Parties, Agent
and Lenders shall be restored to their former positions and rights, and any Default or Event of Default waived shall be deemed to be cured and not continuing, but no waiver of a specific Default or Event of Default shall extend to any other Default
or Event of Default or any subsequent Default or Event of Default (whether or not the subsequent Default or Event of Default is the same as the Default or Event of Default which was waived), or impair any right consequent thereon. 

(c) In the event that (i) Agent requests the consent of a Lender pursuant to this Section 16.2 and such consent is denied,
(ii) a Lender is a Defaulting Lender, (iii) a Lender is an Impacted Lender or (iv) a Lender is a Prior Defaulting/Impacted Lender, then, in each case, Agent or Administrative Borrower (on behalf of Borrowers) may, at its option,
require such Lender to assign its Advances and Commitments to Agent or to another Lender or to any other Person (a “Designated Lender”) designated by Agent or Administrative Borrower (on behalf of Borrowers), for a price equal to the then
outstanding principal amount of all Advances held by such Lender plus accrued and unpaid interest and fees owing to such Lender, which interest and fees shall be paid when, and if, collected from the Borrowers. In the event Agent or
Administrative Borrower (on behalf of Borrowers) elects to require any Lender to assign such Lender’s Advances and Commitments to Agent or to a Designated Lender, Agent or Administrative Borrower (on behalf of Borrowers)will so notify such
Lender in writing within one hundred and eighty (180) days following such Lender’s denial (or with respect to clauses (ii), (iii) or (iv)) above, during the time that such Lender is a Defaulting Lender, an Impacted Lender or a Prior
Defaulting/Impacted Lender, as applicable, or within one hundred and eighty (180) days thereafter), and such Lender will assign its interest to Agent or the Designated Lender no later than five (5) days following receipt of such notice
pursuant to a Commitment Transfer Supplement executed by such Lender (or Agent on behalf of such Lender if such Lender refuses to execute such Commitment Transfer Supplement within such time period; and each Lender hereby irrevocable authorizes
Agent to so execute such a Commitment Transfer Supplement on its behalf), Agent or the Designated Lender, as appropriate, and Agent (if Agent is not the Designated Lender). 

  
 127

 (d) Notwithstanding the foregoing (and in addition to the Agent’s
rights to make Protective Advances hereunder), Agent may at its discretion and without the consent of the Required Lenders, voluntarily permit the outstanding Revolving Advances and Letters of Credit at any time to exceed the Borrowing Base (but not
to exceed the Maximum Credit) by up to ten (10%) percent of the Borrowing Base for up to thirty (30) consecutive Business Days; provided, that, any such overadvance shall still constitute an Event of Default as of the first
(1st) day of such overadvance regardless of the
reason for or amount of such overadvance. For purposes of the preceding sentence, the discretion granted to Agent hereunder shall not preclude involuntary overadvances that may result from time to time due to the fact that the Borrowing Base was
unintentionally exceeded for any reason, including, but not limited to, Collateral previously deemed to be eligible for inclusion in the Borrowing Base, becomes ineligible, collections of Receivables applied to reduce outstanding Advances are
thereafter returned for insufficient funds or overadvances are made to protect or preserve the Collateral; provided, that, any such overadvance shall still constitute an Event of Default as of the first (1st) day of such overadvance regardless of the reason for or amount
of such overadvance. In the event Agent involuntarily permits the outstanding Revolving Advances and Letters of Credit to exceed the Borrowing Base by more than ten (10%) percent of the Borrowing Base, Borrowers shall decrease such excess in as
expeditious a manner as is practicable under the circumstances and not inconsistent with the reason for such excess; provided, that, any Event of Default resulting therefrom shall remain in existence. Revolving Advances made or Letters
of Credit issued after Agent has determined the existence of involuntary overadvances shall be deemed to be involuntary overadvances and shall be decreased in accordance with the preceding sentence, and in all events shall constitute an Event of
Default. 
 16.3 Successors and Assigns; Participations; New Lenders; Taxes; Syndication. 

(a) This Agreement and the Other Documents shall be binding upon and inure to the benefit of each Loan Party, Agent, each Lender, all
future holders of the Obligations and their respective successors and assigns; except, that, no Loan Party may assign or transfer any of its rights or obligations under this Agreement or any Other Document (other than pursuant to a
merger or consolidation of Loan Parties permitted hereunder) without the prior written consent of Agent and each Lender. 

  
 128

 (b) Each Loan Party acknowledges that one or more Lenders may at any time and from time to
time sell participating interests in the Advances to other Persons with the prior written consent of Agent, which consent of Agent shall not be unreasonably withheld, conditioned or delayed (each such transferee or purchaser of a participating
interest, a “Transferee”); provided, that, no participating interest may be sold to a Person organized under the laws of a jurisdiction outside the United States that cannot make the certifications required by
Section 16.3(f) or meet the requirements required by Section 16.3(h). Each Transferee may exercise all rights of payment with respect to the portion of such Advances held by it or other Obligations payable hereunder as fully as if such
Transferee were the direct holder thereof; provided, that, Loan Parties shall not be required to pay to any Transferee more than the amount which it would have been required to pay to the Lender which granted an interest in its
Advances or other Obligations payable hereunder to such Transferee, had such Lender retained such interest in the Advances hereunder or other Obligations payable hereunder, and in no event shall Loan Parties be required to pay any such amount
arising from the same circumstances and with respect to the same Advances or other Obligations payable hereunder to both such Lender and such Transferee. Transferee’s rights under Section 16.2 shall be limited to those items in
Section 16.2(b) which require consent of each Lender or each directly affected Lender, as applicable. Neither Agent, any Lender (other than the Lender selling a participation) nor any Loan Party shall have any duty to any Transferee (except as
specifically provided in this Section 16.3(b)) and may continue to deal solely with the Lender selling a participation as if no such sale had occurred. 
 (c) Any Lender may sell, assign or transfer all or any part of its Advances and Commitments (and related rights and obligations under this Agreement and the Other Documents) to Qualified Assignees (each a
“Purchasing Lender”), in minimum amounts of not less than $5,000,000 (except such minimum amount shall not apply to (i) a sale, assignment or transfer by any Lender to an Affiliate of such Lender or to a group of new Lenders, each of
which is an Affiliate of each other to the extent that the aggregate amount to be assigned to all such new Lenders is at least $5,000,000 or (ii) a sale, assignment or transfer by any Lender of all of its Commitments and all of its Advances),
pursuant to a Commitment Transfer Supplement, executed by a Purchasing Lender, the transferor Lender, and Agent and delivered to Agent for recording. Upon such execution, delivery, acceptance and recording, from and after the transfer effective date
determined pursuant to such Commitment Transfer Supplement, (A) Purchasing Lender thereunder shall be a party to this Agreement and the Other Documents as a Lender and, to the extent transferred pursuant to such Commitment Transfer Supplement,
have Commitments and outstanding Advances, and (B) the transferor Lender thereunder shall, to the extent its Advances and Commitments have been transferred pursuant to such Commitment Transfer Supplement, be released from its obligations under
this Agreement and the Other Documents. Such Commitment Transfer Supplement shall be deemed to amend this Agreement to the extent, and only to the extent, necessary to reflect the addition of such Purchasing Lender as a Lender and the resulting
adjustment of the Commitment Percentages arising from the purchase by such Purchasing Lender of all or a portion of the Advances and Commitments of such transferor Lender under this Agreement and the Other Documents. Loan Parties hereby consent to
the addition of such Purchasing Lender as a Lender and the resulting adjustment of the Commitment Percentages arising from the purchase by such Purchasing Lender of all or a portion of the Advances and Commitments of such transferor Lender. Loan
Parties shall execute and deliver such further documents and do such further acts and things in order to effectuate the foregoing. Notwithstanding the foregoing, any Lender may assign all or any portion of the Advances or Notes held by it to any
Federal Reserve Bank or the United States Treasury as collateral security pursuant to Regulation A of the Board of Governors of the Federal Reserve System and any Operating Circular issued by such Federal Reserve Bank; provided, that,
any payment in respect of such assigned Advances or Notes made by the Borrowers to or for the account of the assigning or pledging Lender in accordance with the terms of this Agreement shall satisfy the Borrowers’ obligations hereunder in
respect to such assigned Advances or Notes to the extent of such payment. No such assignment described in the immediately preceding sentence shall release the assigning Lender from its obligations hereunder. 

  
 129

 (d) Agent, acting solely in this situation as a non-fiduciary agent of the Borrower, shall
maintain at its address a copy of each Commitment Transfer Supplement delivered to it and a register (the “Register”) for the recordation of the names and addresses of the Advances owing to each Lender from time to time. The entries in the
Register shall be conclusive, in the absence of manifest error, and Loan Parties, Agent and Lenders may treat each Person whose name is recorded in the Register as the owner of the Advance recorded therein for the purposes of this Agreement. The
Register shall be available for inspection by Loan Parties or any Lender at any reasonable time and from time to time upon reasonable prior notice. Agent shall receive a fee in the amount of $3,500 payable by the applicable Purchasing Lender upon
the effective date of each transfer or assignment to such Purchasing Lender. 
 (e) Loan Parties authorize each Lender, the
Arranger and the Syndication Agent to disclose to any Transferee or Purchasing Lender and any prospective Transferee or Purchasing Lender (who agrees in writing or through electronic media to treat the information as confidential and use it solely
in connection with a proposed transfer under this Section 16.3) any and all financial and other information in such Lender’s possession concerning Loan Parties which has been delivered to Agent or such Lender by or on behalf of Loan
Parties pursuant to this Agreement or in connection with Agent’s or such Lender’s credit evaluation of Loan Parties. 

(f) Each Lender or Participant organized under the laws of a jurisdiction outside the United States, and from time to time thereafter if
either requested by the Borrowers (or Administrative Borrower on behalf of the Borrowers) or Agent or upon the obsolescence or expiration of any previously delivered form, shall provide Agent and Administrative Borrower (on behalf of the Borrowers)
with (i) two (2) original executed copies of a correct and completed IRS Form W-8BEN, W-8ECI, or W-8IMY (with appropriate attachments), as appropriate, or any successor or other form prescribed by the IRS, certifying that payments to such
Lender or Participant are not subject to United States federal withholding tax under the Code because such payment is either effectively connected with the conduct by such Lender or Participant of a trade or business in the United States or totally
exempt from United States federal withholding tax by reason of the application of an income tax treaty to which the United States is a party or such Lender is otherwise exempt, (ii) or to the extent permitted by law, each such Lender or
Participant may provide Administrative Borrower (on behalf of the Borrowers) and Agent with two original executed copies of IRS Form W-8BEN, or any successor form prescribed by the IRS, certifying that such Lender is exempt from United States
federal withholding tax pursuant to Section 871(h) or 881(c) of the Code, together with an annual certificate stating that such Lender or Participant is not a “person” described in Section 871(h)(3) or 881(c)(3) of the Code and
(iii) a duly completed and executed IRS Form W-8BEN or W 9, as appropriate, or any successor or other form establishing an exemption from United States federal backup withholding tax. Each such Lender further agrees to complete and deliver to
Administrative Borrower (on behalf of the Borrowers), upon its request, such other forms or other documentation as may be appropriate to minimize any withholding tax on payments pursuant to this Agreement under the laws of any other jurisdiction
unless such completion and delivery may in any event be disadvantageous for such Lender. For purposes of this subsection (f), the term “United States” shall have the meaning specified in Section 7701 of the Code. Each Lender that is a
United States person, shall provide the Agent and Administrative Borrower with two original executed IRS Form W-9s, certifying as to status for United States federal back up withholding tax purposes. 

  
 130

 (g) At the request of Agent from time to time both before and after the Closing Date, Loan
Parties will assist Agent in the syndication of the credit facility provided pursuant to this Agreement and the Other Documents. Such assistance shall include, but not be limited to (i) prompt assistance in the preparation of an information
memorandum and the verification of the completeness and accuracy of the information and the reasonableness of the projections contained therein, (ii) preparation of offering materials and financial projections by Loan Parties and their
advisors, (iii) providing Agent with all information reasonably deemed necessary by Agent to successfully complete the syndication, (iv) confirmation as to the accuracy and completeness of such offering materials and information and
confirmation that management’s projections are based on assumptions believed by Loan Parties to be reasonable at the time made, and (v) participation of Loan Parties’ senior management in meetings and conference calls with potential
lenders at such times and places as Agent may reasonably request. 
 (h) If a payment made to Agent or any Lender hereunder or
under any Other Document would be subject to withholding tax imposed by FATCA if Agent or such Lender fails to comply with applicable reporting and other requirements of FATCA, Agent or such Lender shall deliver to Administrative Borrower and Agent,
at the time or times prescribed by applicable law or as reasonably requested by Administrative Borrower or Agent, (i) two (2) accurate, complete and signed certifications prescribed by applicable law or reasonably satisfactory to
Administrative Borrower and Agent that establish that such payment is exempt from withholding tax imposed by FATCA and (ii) any other documentation reasonably requested by Administrative Borrower or Agent sufficient for Administrative Borrower
and Agent to comply with their obligations under FATCA and to determine that Agent or such Lender has complied with such applicable reporting and other requirements of FATCA. 
 16.4 Application of Payments. 
 Agent shall have the continuing and
exclusive right to apply or reverse and re-apply any payment and any and all proceeds of Collateral to any portion of the Obligations. To the extent that any Loan Party makes a payment or Agent or any Lender receives any payment or proceeds of the
Collateral for any Loan Party’s benefit, which are subsequently invalidated, declared to be fraudulent or preferential, set aside or required to be repaid to a trustee, debtor in possession, receiver, custodian or any other party under any
bankruptcy law, common law or equitable cause, then, to such extent, the Obligations or part thereof intended to be satisfied shall be revived and continue as if such payment or proceeds had not been received by Agent or such Lender. 

16.5 Indemnity/Currency Indemnity. 
 (a) Each Loan Party shall indemnify Agent, each Issuer, each Lender and each of their respective officers, directors, Affiliates, employees, representatives and agents (each, an “Indemnitee”)
from and against any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses and disbursements of any kind or nature whatsoever (including, without limitation, fees and disbursements of counsel)
arising from any action, litigation, proceeding, dispute or investigation which may be imposed on, incurred by, or asserted against Agent, such Issuer or any Lender in any litigation, proceeding, dispute or investigation instituted or conducted by
any Governmental Body or any other Person with respect to any aspect of, or any transaction contemplated by, or referred to in, or any matter related to, this Agreement or the Other Documents, whether or not Agent, any Issuer or any Lender is a
party thereto; except, that, no Indemnitee shall be entitled to indemnification hereunder to the extent that any of the foregoing arises out of the gross (not mere) negligence or willful misconduct of such Indemnitee as determined
pursuant to a final, non-appealable order of a court of competent jurisdiction. Upon learning of any matter described above for which any Indemnitee may want to seek indemnity from any Loan Party, such Indemnitee shall promptly notify Administrative
Borrower of such matter; provided, that, the failure to do so shall not in any manner limit, impair or affect Loan Parties’ indemnification obligations hereunder. Nothing contained herein or in any Other Document shall prohibit
any Loan Party from seeking contribution or indemnity from any Person other than Agent or a Lender. 

  
 131

 (b) If for the purposes of obtaining or enforcing judgment in any court in any jurisdiction
with respect to this Agreement or any Other Document, it becomes necessary to convert into the currency of such jurisdiction (the “Judgment Currency”) any amount due under this Agreement or under any Other Document in any currency other
than the Judgment Currency (the “Currency Due”) (including any Currency Due for the purposes of Section 2.5) then, to the extent permitted by law, conversion shall be made at the exchange rate selected by Agent on the Business Day
before the day on which judgment is given (or for the purposes of Section 2.5 on the Business Day on which the payment was received by the Agent). In the event that there is a change in such exchange rate between the Business Day before the day
on which the judgment is given and the date of receipt by the Agent of the amount due, Borrowers shall to the extent permitted by law, on the date of receipt by Agent, pay such additional amounts, if any, or be entitled to receive reimbursement of
such amount, if any, as may be necessary to ensure that the amount received by Agent on such date is the amount in the Judgment Currency which (when converted at such exchange rate on the date of receipt by Agent in accordance with normal banking
procedures in the relevant jurisdiction) is the amount then due under this Agreement or such Other Document in the Currency Due. If the amount of the Currency Due (including any Currency Due for purposes of Section 2.5) which the Agent is so
able to purchase is less than the amount of the Currency Due (including any Currency Due for purposes of Section 2.5) originally due to it, Borrowers shall to the extent permitted by law jointly and severally indemnify and save Agent and
Lenders harmless from and against loss or damage arising as a result of such deficiency. 
 16.6 Notice. 

Any notice or request required to be given hereunder to any Loan Party or to Agent or any Lender shall be in writing (except as expressly
provided herein) at their respective addresses set forth below or at such other address as may hereafter be specified in a notice designated as a notice of change of address under this Section 16.6. Any notice or request required to be given
hereunder shall be given by (a) hand delivery, (b) overnight courier, (c) registered or certified mail, return receipt requested, or (d) facsimile to the number set out below (or such other number as may hereafter be specified in
a notice designated as a notice of change of address) with electronic confirmation of its receipt. Any notice or request required to be given hereunder shall be deemed given on the earlier of (i) actual receipt thereof, and
(ii) (A) one Business Day following posting thereof by a recognized overnight courier, (B) three (3) days following posting thereof by registered or certified mail, return receipt requested, or (C) upon the sending thereof
when sent by facsimile with electronic confirmation of its receipt, in each case addressed to each party at its address set forth below or at such other address as has been furnished in writing by a party to the other by like notice: 

  
 132

			
	 If to Agent or to TD Bank as Lender at:
	 	 TD Bank, N.A.
 317 Madison
Avenue, 3rd Floor
 New York, New York 10017
Attention:    Account Manager - Primo Water

Telephone:   212-299-5711
 Facsimile:
  856-533-7124

 If to a Lender other than TD Bank, as specified on the signature pages hereof or in
the applicable Commitment Transfer Supplement. 
  

			
	 If to any Borrower or any Loan Party:
	 	 Primo Water Corporation
 104
Cambridge Plaza Drive
 Winston-Salem, North Carolina 27104
 Attention:   Mark Castaneda
 Telephone: 336-331-4047

Facsimile:   336-331-4247

 16.7 Survival. 
 The obligations of Loan Parties under Sections 2.2(g), 3.6,
3.9, 14.7, 16.5 and 16.10 shall survive termination of this Agreement and the Other Documents and Payment in Full of the Obligations. 
 16.8 Postponement of Subrogation, Etc. Rights. 
 Each Loan Party expressly
agrees not to exercise, until Payment in Full of all of the Obligations, any and all rights of subrogation, reimbursement, indemnity, exoneration, contribution of any other claim which such Loan Party may now or hereafter have against the other Loan
Parties or other Person directly or contingently liable for the Obligations hereunder, or against or with respect to the other Loan Parties’ property (including, without limitation, any property which is Collateral for the Obligations), arising
from the existence or performance of this Agreement. 
 16.9 Severability. 

If any part of this Agreement is contrary to, prohibited by, or deemed invalid under applicable laws or regulations, such provision shall
be inapplicable and deemed omitted to the extent so contrary, prohibited or invalid, but the remainder hereof shall not be invalidated thereby and shall be given effect so far as possible. 

16.10 Expenses. 
 The Borrowers shall reimburse Agent (and, with respect to clause (a) below, Lenders) for all costs and expenses (including without limitation, travel expenses) paid or incurred by Agent (and, with
respect to clause (a) below, Lenders) in connection with this Agreement and the Other Documents, including, without limitation: 

  
 133

 (a) reasonable attorneys’ fees and disbursements incurred by Agent and, during the
continuance of a Default or Event of Default, by Lenders (i) in all efforts made to enforce payment of any Obligations or collection of or other realization upon any Collateral, (ii) in defending or prosecuting any actions or proceedings
arising out of or relating to this Agreement and the Other Documents, (iii) in connection with the enforcement of this Agreement or any Other Document, and (iv) in enforcing Agent’s security interest in or Lien on any of the
Collateral, whether through judicial proceedings or otherwise; 
 (b) reasonable attorneys’ fees and expenses, fees and
expenses of financial accountants, advisors, consultants, appraisers and other professionals incurred by Agent and other costs and expenses incurred by Agent (i) in connection with the preparing, negotiating, entering into, performing or
syndicating this Agreement and/or the Other Documents, any amendment, waiver, consent or other modification with respect thereto and the administration, work-out or enforcement of this Agreement and the Other Documents, (ii) in instituting,
maintaining, preserving and foreclosing on Liens on any of the Collateral, whether through judicial proceedings or otherwise, (iii) in connection with any advice given to Agent with respect to its rights and obligations under this Agreement and
all Other Documents or (iv) that Agent reasonably deems necessary or appropriate for the performance and fulfillment of its functions, powers, and obligations pursuant to this Agreement and the Other Documents; and 

(c) reasonable fees and disbursements incurred by Agent in connection with any appraisals of Inventory, Equipment or other Collateral,
field examinations, collateral analysis or monitoring or other business analysis conducted by outside Persons in connection with this Agreement and the Other Documents (it being understood that Borrowers shall not be responsible for more than
(i) one (1) appraisal of Inventory during such year unless (A) a Reporting Trigger Event has occurred, in which case Borrowers shall be responsible for a second (2nd) appraisal of Inventory during such year or (B) an Event
of Default has occurred and is continuing, in which case Borrowers shall be responsible for such appraisals of Inventory as Agent may request; (ii) two (2) field examinations during such year unless (A) a Reporting Trigger Event has
occurred, in which case Borrowers shall be responsible for a third (3rd) field examination during such year or (b) an Event of Default has occurred and is continuing, in which case Borrowers shall be responsible for such field examinations
as Agent may request). 
 16.11 Injunctive Relief. 

Each Loan Party recognizes that, in the event any Loan Party fails to perform, observe or discharge any of its obligations or liabilities
under this Agreement, any remedy at law may prove to be inadequate relief to Agent and the Lenders; therefore, Agent, if Agent so requests, shall be entitled to temporary and permanent injunctive relief in any such case without the necessity of
proving that actual damages are not an adequate remedy. 
 16.12 Consequential Damages. 

None of Agent, any Issuer, any Lender, any Loan Party nor any agent or attorney for any of them, shall be liable for special, punitive,
exemplary, indirect or consequential damages arising from any breach of contract, tort or other wrong relating to the establishment, administration or collection of the Obligations. 

  
 134

 16.13 Captions. 

The captions at various places in this Agreement are intended for convenience only and do not constitute and shall not be interpreted as
part of this Agreement. 
 16.14 Counterparts; Facsimile or Emailed Signatures. 

This Agreement may be executed in any number of and by different parties hereto on separate counterparts, all of which, when so executed,
shall be deemed an original, but all such counterparts shall constitute one and the same agreement. Any signature delivered by a party by facsimile or email transmission shall be deemed to be an original signature hereto. 

16.15 Construction. 
 The parties acknowledge that each party and its counsel have reviewed this Agreement and that the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting
party shall not be employed in the interpretation of this Agreement or any amendments, schedules or exhibits thereto. 

16.16 Confidentiality; Sharing Information. 
 (a) Agent, each Lender and each Transferee shall hold all non-public information designated as confidential and obtained by Agent, such Lender or such Transferee pursuant to the requirements of this
Agreement in accordance with Agent’s, such Lender’s and such Transferee’s customary procedures for handling confidential information of this nature; provided, however, that, Agent, each Lender and each Transferee
may disclose such confidential information (i) to its examiners, affiliates, outside auditors, counsel and other professional advisors, (ii) to Agent, any Lender or to any prospective Transferees and Purchasing Lenders (who agrees in
writing or through electronic media to treat the information as confidential and use it solely in connection with a proposed transfer under Section 16.3), (iii) that ceases to be non-public information through no fault of Agent or any
Lender, and (iv) as required or requested by any Governmental Body or representative thereof or pursuant to legal process; provided, further, that, (A) unless specifically prohibited by applicable law or court order,
Agent, each Lender and each Transferee shall use reasonable efforts prior to disclosure thereof, to notify Administrative Borrower (on behalf of the Borrowers) of the applicable request for disclosure of such non-public information (1) by a
Governmental Body or representative thereof (other than any such request in connection with an examination of the financial condition of Agent, a Lender or a Transferee by such Governmental Body) or (2) pursuant to legal process, and
(B) in no event shall Agent, any Lender or any Transferee be obligated to return any materials furnished by any Loan Party other than those documents and instruments in possession of Agent or any Lender constituting possessory Collateral once
all of the Obligations have been Paid in Full. 
 (b) Each Loan Party acknowledges that from time to time financial advisory,
investment banking and other services may be offered or provided to such Loan Party or one or more of its Affiliates (in connection with this Agreement or otherwise) by Agent, any Lender or by one or more Subsidiaries or Affiliates of Agent or such
Lender and each Loan Party hereby authorizes Agent and each Lender to share any information delivered to Agent or such Lender by such Loan Party and its Subsidiaries pursuant to this Agreement, or in connection with the decision of Agent or such
Lender to enter into this Agreement, to any such Subsidiary or Affiliate of Agent or such Lender, it being understood that any such Subsidiary or Affiliate of Agent or any Lender receiving such information shall be bound by the provision of this
Section 16.16 as if it were a Lender hereunder. Such authorization shall survive the repayment of the Obligations and the termination of this Agreement. 

  
 135

 16.17 Publicity. 

Agent shall not make any announcements of the financial arrangement entered into among Loan Parties, Agent and Lenders, including,
without limitation, announcements which are commonly known as tombstones, unless the Administrative Borrower provides its prior written consent. In addition, Agent shall not include, without the prior written consent of the Administrative Borrower,
any Loan Party’s name or logo in select transaction profiles and client testimonials prepared by Agent for use in publications, company brochures and other marketing materials of Agent. Subject to Agent’s prior written approval (which
shall not be unreasonably withheld or delayed), Loan Parties shall have the right to make appropriate announcements of the financial arrangement entered into among Loan Parties, Agent and Lenders in such publications and to such selected parties as
Loan Parties deem appropriate; except, that, Loan Parties shall have the right to make any disclosure required by law or by applicable SEC regulations without any requirement to obtain prior written approval. 

16.18 Patriot Act Notice. 
 Each Lender subject to the USA Patriot Act of 2001 (31 U.S.C. 5318 et seq.) hereby notifies Loan Parties that, pursuant to Section 326 thereof, it is required to obtain, verify and record information
that identifies Loan Parties, including the name and address of each Loan Party and other information allowing such Lender to identify Loan Parties in accordance with such act. 

16.19 Agent Titles. 
 Each Lender or other Person that is designated (in the preamble of this Agreement or otherwise) as “Arranger”, “Syndication Agent”, “Bookrunner” or any title of any similar
type shall not have any right, power, responsibility or duty under this Agreement or any of the Other Documents, other than those applicable to all Lenders (in the case of a Lender), and shall in no event be deemed to have any fiduciary relationship
with any other Lender. 
 16.20 Conflict with Term Loan Intercreditor Agreement. 

Each of the parties hereto acknowledge and agree that whenever (a) any term or provision of this Agreement or any term or provision
of any Other Document are incapable of being performed or complied with if the Loan Parties are also required to perform and comply with the terms and provisions of the Term Loan Documents, and (b) such conflict is resolved pursuant to the
terms and provisions of the Term Loan Intercreditor Agreement, the terms and provisions of the Term Loan Intercreditor Agreement shall govern and control, and the failure of the Loan Parties to comply with the terms and provisions of this Agreement
and the Other Documents shall not constitute a breach of any such terms or provisions of this Agreement and such Other Documents. 
 [SIGNATURE PAGES FOLLOW] 

  
 136

 Each of the parties has signed this Agreement as of the day and year first above written.

  

			
	BORROWERS:
	
	PRIMO WATER CORPORATION
		
	By:	 	/s/ Mark Castaneda
	Name:	 	Mark Castaneda
	Title:	 	Chief Financial Officer
	
	PRIMO PRODUCTS, LLC
		
	By:	 	/s/ Mark Castaneda
	Name:	 	Mark Castaneda
	Title:	 	Chief Financial Officer
	
	PRIMO DIRECT, LLC
		
	By:	 	/s/ Mark Castaneda
	Name:	 	Mark Castaneda
	Title:	 	Chief Financial Officer
	
	PRIMO REFILL, LLC
		
	By:	 	/s/ Mark Castaneda
	Name:	 	Mark Castaneda
	Title:	 	Chief Financial Officer
	
	PRIMO ICE, LLC
		
	By:	 	/s/ Mark Castaneda
	Name:	 	Mark Castaneda
	Title:	 	Chief Financial Officer

 [SIGNATURES CONTINUED ON NEXT PAGE] 

 [SIGNATURES CONTINUED FROM PREVIOUS PAGE] 

 

			
	GUARANTOR:
	
	PRIMO REFILL CANADA CORPORATION
		
	By:	 	/s/ Mark Castaneda
	Name:	 	Mark Castaneda
	Title:	 	Chief Financial Officer

 [SIGNATURES CONTINUED ON NEXT PAGE] 

 [SIGNATURES CONTINUED FROM PREVIOUS PAGE] 

 

			
	AGENT AND LENDERS:
	
	TD BANK, N.A.,
	as Agent, Swingline Lender, Issuing Bank and a Lender
		
	By:	 	/s/ Andrew Loughlin
	Name:	 	Andrew Loughlin
	Title:	 	Vice PresidentEX-10.2

 Exhibit 10.2 
 EXECUTION VERSION 
 CREDIT AND SECURITY AGREEMENT 

by and among 
 PRIMO WATER CORPORATION 
 PRIMO PRODUCTS, LLC 

PRIMO DIRECT, LLC 
 PRIMO REFILL, LLC 
 and 

PRIMO ICE, LLC 
 (as Borrowers) 
 and 

PRIMO REFILL CANADA CORPORATION 
 (as Guarantor) 
 and 

COMVEST CAPITAL II, L.P. 
 (as Lender) 
 April 30, 2012 

 

 TABLE OF CONTENTS 

 

					
	 	  	Page	 
	 1. DEFINITIONS
	  	 	1	  
		
	 1.1 Accounting Terms
	  	 	1	  
	 1.2 General Terms
	  	 	1	  
	 1.3 Uniform Commercial Code Terms
	  	 	27	  
	 1.4 Certain Matters of Construction
	  	 	27	  
		
	 2. TERM LOAN, PAYMENTS
	  	 	27	  
		
	 2.1 Term Loan
	  	 	27	  
	 2.2 Fees and Premiums
	  	 	28	  
	 2.3 Repayment of Term Loan
	  	 	28	  
	 2.4 Statement of Account
	  	 	29	  
	 2.5 Mandatory Prepayments
	  	 	29	  
	 2.6 Use of Proceeds
	  	 	30	  
	 2.7 Further Obligations / Maximum Lawful Rate
	  	 	31	  
	 2.8 Application of Payments
	  	 	31	  
	 2.9 Reversal of Payments
	  	 	32	  
	 2.10 Joint and Several Liability
	  	 	32	  
	 2.11 Interrelated Businesses
	  	 	33	  
	 2.12 Appointment of Administrative Borrower as Agent for Receipt of Term Loan and Statements and Receipt and Sending of
Notices
	  	 	33	  
	 2.13 Increased Costs
	  	 	34	  
	 2.14 Capital Adequacy
	  	 	35	  
	 2.15 Withholding Taxes
	  	 	36	  
		
	 3. RESERVED
	  	 	36	  
		
	 4. GRANT OF SECURITY INTEREST; COLLATERAL COVENANTS
	  	 	36	  
		
	 4.1 Security Interest in the Collateral
	  	 	36	  
	 4.2 Perfection of Security Interest
	  	 	37	  
	 4.3 Preservation of Collateral
	  	 	38	  
	 4.4 Ownership and Location of Collateral
	  	 	38	  
	 4.5 Defense of Lender’s Interests
	  	 	39	  
	 4.6 Books and Records
	  	 	39	  
	 4.7 Financial Disclosure
	  	 	39	  
	 4.8 Compliance with Laws
	  	 	40	  
	 4.9 Inspection of Premises/Appraisals
	  	 	40	  
	 4.10 Insurance
	  	 	40	  
	 4.11 Failure to Pay Insurance
	  	 	41	  

  
 (i)

					
	 4.12 Payment of Taxes
	  	 	41	  
	 4.13 Payment of Leasehold Obligations
	  	 	41	  
	 4.14 Accounts and other Receivables
	  	 	41	  
	 4.15 Inventory
	  	 	45	  
	 4.16 Maintenance of Equipment
	  	 	45	  
	 4.17 Exculpation of Liability
	  	 	45	  
	 4.18 Environmental Matters
	  	 	46	  
	 4.19 Financing Statements
	  	 	47	  
		
	 5. REPRESENTATIONS AND WARRANTIES
	  	 	48	  
		
	 5.1 Authority, Etc.
	  	 	48	  
	 5.2 Formation and Qualification
	  	 	48	  
	 5.3 Survival of Representations and Warranties
	  	 	49	  
	 5.4 Tax Returns
	  	 	49	  
	 5.5 Financial Statements
	  	 	49	  
	 5.6 Corporate Name
	  	 	50	  
	 5.7 O.S.H.A. and Environmental Compliance
	  	 	50	  
	 5.8 Solvency; No Litigation, Violation of Law; No ERISA Issues
	  	 	51	  
	 5.9 Patents, Trademarks, Copyrights and Licenses
	  	 	52	  
	 5.10 Licenses and Permits
	  	 	53	  
	 5.11 No Contractual Default
	  	 	53	  
	 5.12 No Burdensome Restrictions/No Liens
	  	 	53	  
	 5.13 No Labor Disputes
	  	 	53	  
	 5.14 Margin Regulations
	  	 	53	  
	 5.15 Investment Company Act
	  	 	54	  
	 5.16 Disclosure
	  	 	54	  
	 5.17 Real Property
	  	 	54	  
	 5.18 Hedging Agreements
	  	 	54	  
	 5.19 Conflicting Agreements
	  	 	54	  
	 5.20 Business and Property of Loan Parties
	  	 	54	  
	 5.21 Material Contracts
	  	 	55	  
	 5.22 Capital Structure
	  	 	55	  
	 5.23 Bank Accounts, Security Accounts, Etc.
	  	 	56	  
	 5.24 Related Agreements
	  	 	56	  
	 5.25 OFAC
	  	 	57	  
		
	 6. AFFIRMATIVE COVENANTS
	  	 	57	  
		
	 6.1 Payment of Fees
	  	 	57	  
	 6.2 Conduct of Business; Compliance with Laws and Maintenance of Existence and Assets
	  	 	57	  
	 6.3 Violations
	  	 	58	  
	 6.4 Board Observation Rights
	  	 	58	  
	 6.5 Execution of Supplemental Instruments; Further Assurances
	  	 	58	  
	 6.6 Payment of Indebtedness
	  	 	59	  
	 6.7 Standards of Financial Statements
	  	 	59	  

  
 (ii)

					
	 6.8 Post-Closing Deliveries
	  	 	59	  
		
	 7. NEGATIVE COVENANTS
	  	 	60	  
		
	 7.1 Merger, Amalgamation, Consolidation, Acquisition and Sale of Assets
	  	 	60	  
	 7.2 Creation of Liens
	  	 	62	  
	 7.3 Guarantees
	  	 	62	  
	 7.4 Investments
	  	 	62	  
	 7.5 Loans
	  	 	64	  
	 7.6 Financial Covenants
	  	 	64	  
	 7.7 Dividends and Distributions
	  	 	65	  
	 7.8 Indebtedness
	  	 	66	  
	 7.9 Nature of Business
	  	 	67	  
	 7.10 Transactions with Affiliates
	  	 	67	  
	 7.11 Leases
	  	 	68	  
	 7.12 Subsidiaries
	  	 	68	  
	 7.13 Fiscal Year and Accounting Changes
	  	 	68	  
	 7.14 Pledge of Credit
	  	 	69	  
	 7.15 Amendment of Organizational Documents; Revolving Loan Documents; and other Related Agreements
	  	 	69	  
	 7.16 Compliance with ERISA
	  	 	69	  
	 7.17 Prepayment, Etc. of Money Borrowed
	  	 	70	  
	 7.18 State of Organization/Names/Locations
	  	 	70	  
	 7.19 Foreign Assets Control Regulations, Etc.
	  	 	70	  
		
	 8. CONDITIONS PRECEDENT
	  	 	70	  
		
	 8.1 Conditions to Term Loan
	  	 	70	  
		
	 9. INFORMATION AS TO LOAN PARTIES
	  	 	74	  
		
	 9.1 Disclosure of Material Matters Pertaining to Collateral
	  	 	74	  
	 9.2 Collateral and Related Reports
	  	 	74	  
	 9.3 Environmental Reports
	  	 	75	  
	 9.4 Litigation
	  	 	76	  
	 9.5 Material Occurrences
	  	 	76	  
	 9.6 Retail Store Locations
	  	 	76	  
	 9.7 Annual Financial Statements
	  	 	77	  
	 9.8 [Reserved.]
	  	 	77	  
	 9.9 Monthly Financial Statements
	  	 	77	  
	 9.10 Notices re Equity Holders; the Revolving Loan Documents
	  	 	78	  
	 9.11 Additional Information
	  	 	78	  
	 9.12 Projected Operating Budget
	  	 	78	  
	 9.13 Variances From Operating Budget
	  	 	78	  
	 9.14 Notice of Governmental Body Items
	  	 	78	  
	 9.15 ERISA Notices and Requests
	  	 	79	  
	 9.16 Notice of Change in Management, Etc.
	  	 	79	  
	 9.17 Additional Documents
	  	 	80	  

  
 (iii)

					
	 10. EVENTS OF DEFAULT
	  	 	80	  
		
	 11. LENDER’S RIGHTS AND REMEDIES AFTER EVENT OF DEFAULT
	  	 	82	  
		
	 11.1 Rights and Remedies
	  	 	82	  
	 11.2 Waterfall
	  	 	84	  
	 11.3 Lender’s Discretion
	  	 	84	  
	 11.4 Setoff
	  	 	84	  
	 11.5 Rights and Remedies not Exclusive
	  	 	85	  
	 11.6 Commercial Reasonableness
	  	 	85	  
		
	 12. WAIVERS AND JUDICIAL PROCEEDINGS
	  	 	86	  
		
	 12.1 Waiver of Notice
	  	 	86	  
	 12.2 Delay
	  	 	86	  
	 12.3 Jury Waiver
	  	 	86	  
	 12.4 Waiver of Counterclaims
	  	 	86	  
		
	 13. EFFECTIVE DATE AND TERMINATION
	  	 	86	  
		
	 13.1 Term
	  	 	86	  
	 13.2 Termination
	  	 	87	  
		
	 14. RESERVED
	  	 	87	  
		
	 15. GUARANTEE
	  	 	87	  
		
	 15.1 Guarantee; Contribution Rights
	  	 	87	  
	 15.2 Waivers
	  	 	88	  
	 15.3 No Defense
	  	 	88	  
	 15.4 Guarantee of Payment
	  	 	88	  
	 15.5 Liabilities Absolute
	  	 	88	  
	 15.6 Waiver of Notice
	  	 	89	  
	 15.7 Lender’s Discretion
	  	 	90	  
	 15.8 Reinstatement
	  	 	90	  
	 15.9 No Marshalling, Etc.
	  	 	90	  
	 15.10 Action Upon Event of Default
	  	 	91	  
	 15.11 Statute of Limitations
	  	 	91	  
	 15.12 Interest
	  	 	92	  
	 15.13 Guarantor’s Investigation
	  	 	92	  
	 15.14 Termination of Guarantee
	  	 	92	  
	 15.15 Extension of Guarantee
	  	 	92	  
	 15.16 Applicability to Borrowers
	  	 	92	  

  
 (iv)

					
	 16. MISCELLANEOUS
	  	 	93	  
		
	 16.1 Governing Law; Consent to Jurisdiction; Etc.
	  	 	93	  
	 16.2 Entire Understanding; Amendments
	  	 	93	  
	 16.3 Successors and Assigns; Participations; New Lenders; Taxes
	  	 	94	  
	 16.4 Application of Payments
	  	 	97	  
	 16.5 Indemnity/Currency Indemnity
	  	 	97	  
	 16.6 Notice
	  	 	98	  
	 16.7 Survival
	  	 	99	  
	 16.8 Postponement of Subrogation, Etc. Rights
	  	 	99	  
	 16.9 Severability
	  	 	99	  
	 16.10 Expenses
	  	 	99	  
	 16.11 Injunctive Relief
	  	 	100	  
	 16.12 Consequential Damages
	  	 	100	  
	 16.13 Captions
	  	 	100	  
	 16.14 Counterparts; Facsimile or Emailed Signatures
	  	 	100	  
	 16.15 Construction
	  	 	100	  
	 16.16 Confidentiality; Sharing Information
	  	 	101	  
	 16.17 Publicity
	  	 	101	  
	 16.18 Patriot Act Notice
	  	 	102	  
	 16.19 Conflict with Intercreditor Agreement
	  	 	102	  

  
 (v)

 List of Exhibits and Schedules 

Exhibits 
  

			
	Exhibit A	  	Form of Term Note
	Exhibit 9.7	  	Form of Compliance Certificate
	
	 Schedules

		
	Schedule R-1	  	Real Property
	Schedule 4.4	  	Equipment, Inventory and Books and Records Locations
	Schedule 4.14(c)	  	Location of Chief Executive Offices
	Schedule 5.2(a)	  	Jurisdictions of Qualification and Good Standing
	Schedule 5.2(b)	  	Subsidiaries
	Schedule 5.4	  	Federal Tax Identification Number
	Schedule 5.6	  	Corporate Names
	Schedule 5.8(b)	  	Litigation / Commercial Tort Claims / Money Borrowed
	Schedule 5.8(d)	  	Plans
	Schedule 5.9	  	Intellectual Property, Source Code Escrow Agreements
	Schedule 5.13	  	Labor Disputes
	Schedule 5.21	  	Material Contracts
	Schedule 5.22	  	Capital Structure
	Schedule 5.23	  	Bank Accounts
	Schedule 6.8	  	Post-Closing Deliveries
	Schedule 7.2	  	Existing Liens
	Schedule 7.8	  	Existing Indebtedness

  
 -i-

 CREDIT AND SECURITY AGREEMENT 

This CREDIT AND SECURITY AGREEMENT (this “Agreement”), dated April 30, 2012, is entered into by and among PRIMO WATER
CORPORATION, a corporation organized under the laws of the State of Delaware (“Parent”), PRIMO PRODUCTS, LLC, a limited liability company organized under the laws of the State of North Carolina (“Products”), PRIMO DIRECT, LLC, a
limited liability company organized under the laws of the State of North Carolina (“Direct”), PRIMO REFILL, LLC, a limited liability company organized under the laws of the State of North Carolina (“Refill”), PRIMO ICE, LLC, a
limited liability company organized under the laws of the State of North Carolina (“ICE”; and together with Parent, Products, Direct, Refill and any other Person that at any time after the date hereof becomes a Borrower, each a
“Borrower” and collectively, the “Borrowers”), PRIMO REFILL CANADA CORPORATION, a corporation organized under the laws of the Province of British Columbia, Canada (“Canadian Guarantor”; and together with any other
Person that at any time after the date hereof becomes a Guarantor, each a “Guarantor” and collectively, the “Guarantors”), and COMVEST CAPITAL II, L.P., a Delaware limited partnership (in its individual capacity,
“Comvest”), in its capacity as lender (in such capacity, the “Lender” and collectively with any other lender which may hereafter become a party hereto, the “Lenders”). 

IN CONSIDERATION of the mutual covenants and undertakings herein contained, Loan Parties and the Lender hereby agree as follows:

  

	1.	DEFINITIONS. 

  

	 	1.1	Accounting Terms. 

 As
used in this Agreement, the Term Note, any Other Document, or any certificate, report or other document made or delivered pursuant to this Agreement, accounting terms not defined in Section 1.2 or elsewhere in this Agreement and accounting
terms partly defined in Section 1.2 to the extent not defined, shall have the respective meanings given to them under GAAP. 
  

	 	1.2	General Terms. 

 For
purposes of this Agreement the following terms shall have the following meanings: 
 “Accountants” shall have the
meaning set forth in Section 9.7. 
 “Accounts” shall mean and include as to each Loan Party and each of its
Subsidiaries, all of such Loan Party’s and Subsidiary’s “accounts” as defined in the UCC whether now owned or hereafter acquired including, without limitation all present and future rights of such Loan Party to payment of a
monetary obligation, whether or not earned by performance, which is not evidenced by chattel paper or an instrument, (a) for property that has been or is to be sold, leased, licensed, assigned, or otherwise disposed of, (b) for services
rendered or to be rendered, (c) for a secondary obligation incurred or to be incurred, or (d) arising out of the use of a credit or charge card or information contained on or for use with any such card. 

“Acquisition Pro Forma” shall have the meaning set forth in the definition of Permitted Acquisition. 

 “Administrative Borrower” shall mean Parent, in its capacity as Administrative
Borrower on behalf of itself and the other Borrowers pursuant to Section 2.12 hereof, and its successors and assigns in such capacity. 
 “Affiliate” of any Person shall mean (a) any Person (other than a Subsidiary) which, directly or indirectly, is in control of, is controlled by, or is under common control with such Person,
or (b) any Person who is a director, manager or officer (i) of such Person, (ii) of any Subsidiary of such Person or (iii) of any Person described in clause (a) above. For purposes of this definition, control of a Person
shall mean the power, direct or indirect, (A) to vote twenty (20%) percent or more of the Equity Interests having ordinary voting power for the election of directors or managers (or other comparable body) of such Person, or (B) to
direct or cause the direction of the management and policies of such Person whether by contract or otherwise. 

“Agreement” shall mean this Credit and Security Agreement, as amended, restated, modified and supplemented from time to time.

 “Approved Fund” shall mean (a) any fund, trust or similar entity that invests in commercial loans in the
ordinary course of business and is advised or managed by (i) the Lender, (ii) a Controlled Affiliate of the Lender, (iii) the same investment advisor that manages the Lender or (iv) a Controlled Affiliate of an investment advisor
that manages the Lender or (b) any finance company, insurance company or other financial institution which temporarily warehouses loans for the Lender or any Person described in clause (a) above. 

“Assignee Lender” shall have the meaning set forth in Section 16.3(c). 

“Authority” shall have the meaning set forth in Section 4.18(d). 

“Bankruptcy Code” shall have the meaning set forth in Section 2.10(a) and shall include, with respect to Canadian
Guarantor, the Bankruptcy & Insolvency Act, the Companies’ Creditors Arrangement Act, the Winding Up and Restructuring Act and the Business Corporations Act (Ontario) and any other statute with similar application regarding the
restructuring, reorganization, winding up or liquidation of a debtor. 
 “BIA” shall mean the Bankruptcy and
Insolvency Act (Canada), R.S.C. 1985, c. B-3, as the same now exists or may from time to time hereafter be amended, modified, recodified or supplemented, together with all official rules, regulations and interpretations thereunder or related
thereto. 
 “Blocked Accounts” shall have the meaning set forth in Section 4.14(h). 

“Borrower” or “Borrowers” shall have the meanings set forth in the preamble to this Agreement and shall extend to all
permitted successors and assigns of such Persons. 
 “Borrowers’ Account” shall have the meaning set forth in
Section 2.4. 
 “Business Day” shall mean a day other than (a) a Saturday, (b) a Sunday, or (c) a
day on which banking institutions in the State of Florida, the State of New York, the State of New Jersey or the State of New Hampshire are authorized or required by applicable law or executive order to close. 

  
 2 

 “Business Reduction Event” shall mean either (a) the complete discontinuation
of the sale of all product lines of the Loan Parties in any Walmart retail location or any Lowes retail location (each a “retail store location reduction”), which results in a net retail store location reduction for Walmart or Lowes,
individually relating to each such company and not in the aggregate, of 600 or more at any time following the Closing Date or (b) the complete discontinuation of the sale of the Refill product line in any Walmart retail location (each a
“Refill retail store location reduction”), which results in a net Refill retail store location reduction for Walmart of 600 or more at any time following the Closing Date. For purposes of determining whether or not a Business Reduction
Event has occurred, as of the Closing Date, the Loan Parties sell product lines in (a) 2,759 Walmart retail locations and (b) 1,697 Lowes retail locations. 
 “Canadian Dollars” or “C$” shall mean the lawful currency of Canada. 
 “Canadian Guarantor” shall have the meaning set forth in the preamble to this Agreement. 
 “Capital Expenditures” shall mean, with respect to any Person, without duplication, all expenditures (including deposits) made by such Person for, or contracts for expenditures with respect to
any fixed assets or improvements, or for replacements, substitutions or additions thereto, which have a useful life of more than one (1) year, including the direct or indirect acquisition of such assets by way of increased product or service
charges, offset items or otherwise, as determined in accordance GAAP consistently applied and all other expenditures which, in accordance with GAAP, would be required to be capitalized and shown on the consolidated balance sheet of such Person.

 “Capital Lease” shall mean any lease of any property (whether real, personal or mixed) that, in conformity with
GAAP consistently applied, should be accounted for as a capital lease. 
 “Cash Equivalents” shall mean:
(a) marketable direct obligations issued or unconditionally guaranteed by the United States Government or issued by any agency thereof and backed by the full faith and credit of the United States, in each case maturing within one (1) year
from the date of acquisition thereof; (b) commercial paper maturing no more than six (6) months from the date issued and, at the time of acquisition, having a rating of at least A-1 from Standard & Poor’s Corporation or at
least P-1 from Moody’s Investors Service, Inc.; (c) certificates of deposit or bankers’ acceptances maturing within one (1) year from the date of issuance thereof issued by, or overnight reverse repurchase agreements from, any
commercial bank organized under the laws of the United States of America or any state thereof or the District of Columbia having combined capital and surplus of not less than $500,000,000 and whose debt obligations, or those of a holding company of
which it is a Subsidiary, are rated not less than A (or the equivalent rating) by a nationally recognized investment rating agency (an “A Rated Bank”); (d) time deposits maturing no more than thirty (30) days from the date of
creation thereof with A Rated Banks; (e) mutual funds that invest solely in one or more of the investments described in clauses (a) through (d) above; and (f) with respect to such investments in currencies other than Dollars or
in jurisdictions other than the United States, other investments reasonably deemed by a Loan Party to be equivalent to the investments described in clauses (a) through (e) above. 

“Cash Interest Expense” shall mean, without duplication, for any period, Interest Expense (excluding the following non-cash
components of Interest Expense: (a) the amortization of fees and costs with respect to the transactions contemplated by this Agreement which have been capitalized as transaction costs, and (b) interest paid in kind). 

  
 3 

 “Cash Receipt Account” or “Cash Receipt Accounts” shall mean,
individually or collectively, all lockbox accounts, dominion accounts or other deposit accounts established and maintained by Loan Parties for the purpose of collecting or depositing cash, checks, notes, instruments, and other items of payment
(including insurance proceeds, cash proceeds of asset sales, rental proceeds, and tax refunds), and which are designated as such and listed on Schedule 5.23. 
 “CERCLA” shall mean the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended, 42 U.S.C. §§9601 et seq. 

“CFC” shall mean a “controlled foreign corporation” as defined in Section 957 of the Code. 

“Change in Tax Law” shall mean a change in the treaty, law or regulation after the date on which the applicable Lender becomes
a party to this Agreement (or, if such Lender is a non-U.S. intermediary or flow-through entity for U.S. federal income tax purposes, after the relevant beneficiary or member of such Lender became such a beneficiary or member, if later);
provided, however, such term does not include regulations or other guidance issued by the IRS or U.S. Treasury implementing or interpreting laws already enacted, but not yet effective. 

“Change of Control” shall mean the occurrence of any event (whether in one or more transactions) which results in
(a) fifty-one (51%) percent or more of the Voting Equity Interests of Parent owned and controlled by a single Person (as such term is used in Section 13(d)(3) of the Exchange Act), (b) one hundred (100%) percent of the
Equity Interests of each Borrower (other than Parent) is no longer owned and controlled by Parent, (c) one hundred (100%) percent of the Equity Interests of each Loan Party (other than Borrowers and Parent) is no longer owned and
controlled directly or indirectly by Borrowers or Parent or (d) a “Change of Control” or other similar event shall occur, as defined in, or under, the Revolving Loan Documents. 

“Charges” shall mean all taxes, charges, fees, imposts, levies or other assessments, including, without limitation, all net
income, gross income, gross receipts, sales, use, ad valorem, value added, transfer, franchise, profits, inventory, capital stock, license, withholding, payroll, employment, social security, unemployment, excise, severance, stamp, occupation and
property taxes, custom duties, fees, assessments, Liens, claims and charges of any kind whatsoever, together with any interest and any penalties, additions to tax or additional amounts, imposed by any taxing or other authority, domestic or foreign
(including, without limitation, the PBGC or any environmental agency or superfund), upon the Collateral, any Loan Party or any Subsidiary of any Loan Party. 
 “Closing Date” shall mean April 30, 2012. 
 “Closing Fee”
shall mean the closing fee payable in accordance with the Fee Letter. 
 “Code” shall mean the Internal Revenue Code
of 1986, as amended from time to time and the regulations promulgated thereunder. 

  
 4 

 “Collateral” shall mean any and all collateral granted under this Agreement or any
Other Document to secure any and all of the Obligations, including without limitation all tangible and intangible property of each Loan Party, all personal and real property of each Loan Party, all movable and immovable property of each Loan Party,
in each case whether now owned or hereafter acquired and wherever located, including, but not limited to, the following of each Loan Party: 
 (a) all Accounts and other Receivables; 
 (b) all certificated and uncertificated
securities; 
 (c) all chattel paper, including electronic chattel paper; 

(d) all Computer Hardware and Software and all rights with respect thereto, including, any and all licenses, options, warranties, service
contracts, program services, test rights, maintenance rights, supporting information, improvement rights, renewal rights and indemnifications, and any substitutions, replacements, additions or model conversions of any of the foregoing; 

(e) all Contract Rights; 
 (f) all commercial tort claims, (including, without limitation any commercial tort claims from time to time described on Schedule 5.8(b) (as such Schedule 5.8(b) may from time to
time be updated)); 
 (g) all deposit accounts; 
 (h) all documents; 
 (i) all financial assets; 

(j) all General Intangibles, including payment intangibles and software; 

(k) all goods (including all Equipment and Inventory), and all embedded software, accessions, additions, attachments, improvements,
substitutions and replacements thereto and therefor; 
 (l) all instruments; 

(m) all Intellectual Property; 
 (n) all Investment Property; 
 (o) all of the Equity Interests issued by each Loan
Party (other than Parent) and each of their Subsidiaries; 
 (p) all leasehold interests; 

(q) all cash, cash equivalents or other money; 
 (r) all letter of credit rights; 
 (s) all security entitlements; 

  
 5 

 (t) all supporting obligations; 

(u) all of each Loan Party’s right, title and interest in and to (i) all of its respective goods and other property including,
but not limited to, all merchandise returned or rejected by Customers, relating to or securing any of the Receivables; (ii) all of each Loan Party’s rights as a consignor, a consignee, an unpaid vendor, mechanic, artisan, or other lienor,
including stoppage in transit, setoff, compensation, detinue, replevin, reclamation and repurchase; (iii) all supporting obligations and all additional amounts due to any Loan Party from any Customer relating to the Receivables; (iv) all
other property of any kind whatsoever of each Loan Party, including, but not limited to, warranty claims, relating to any goods; (v) all of each Loan Party’s Contract Rights, rights of payment which have been earned under a Contract Right,
letter of credit rights (whether or not the letter of credit is evidenced by a writing), instruments (including promissory notes), documents, chattel paper (whether tangible or electronic), warehouse receipts, deposit accounts, money and securities;
(vi) if and when obtained by any Loan Party, all real, immovable, movable and personal property of third parties in which such Loan Party has been granted a Lien; and (vii) any other goods, movable or personal property or real or immovable
property of any kind or description, wherever located, now or hereafter owned or acquired by any Loan Party; and 
 (v) all
books, records, writings, data bases, information and other property relating to, used or useful in connection with, or evidencing, embodying, incorporating or referring to any of the foregoing, and all proceeds, products, offspring, rents, issues,
profits and returns of and from any of the foregoing; 
 provided, however, that, no Excluded Assets shall be included in
Collateral. 
 “Collateral Access Agreement” shall mean an agreement in writing, in form and substance reasonably
satisfactory to the Lender, from any lessor of premises to any Loan Party, or any other Person to whom any Collateral is consigned or who has custody, control or possession of any such Collateral or is otherwise the owner or operator of any premises
on which any of such Collateral is located, duly executed and delivered in favor of the Lender with respect to the Collateral at such premises or otherwise in the custody, control or possession of such lessor, consignee or other Person. 

“Compliance Certificate” shall mean the Compliance Certificate executed and delivered by a Responsible Officer of
Administrative Borrower pursuant to Sections 9.7 and 9.9 in the form of Exhibit 9.7 appended hereto. 

“Computer Hardware and Software” shall mean all of each Loan Party’s and each of its Subsidiary’s rights (including
rights as licensee and lessee) with respect to (a) computer and other electronic data processing hardware, including all integrated computer systems, central processing units, memory units, display terminals, printers, computer elements, card
readers, tape drives, hard and soft disk drives, cables, electrical supply hardware, generators, power equalizers, accessories, peripheral devices and other related computer hardware; (b) all software and all software programs designed for use
on the computers and electronic data processing hardware described in clause (a) above, including all operating system software, utilities and application programs in whatsoever form (source code and object code in magnetic tape, disk or hard
copy format or any other listings whatsoever); (c) any firmware associated with any of the foregoing; and (d) any documentation for hardware, software and firmware described in clauses (a), (b) and (c) above, including flow
charts, logic diagrams, manuals, specifications, training materials, charts and pseudo codes. 

  
 6 

 “Comvest” shall have the meaning set forth in the preamble to this Agreement and
shall include its successors and assigns. 
 “Consents” shall mean all filings and all licenses, permits, consents,
approvals, authorizations, qualifications and orders of Governmental Bodies and other third parties, domestic or foreign, necessary to carry on any Loan Party’s business or to permit the effectuation and performance of this Agreement, the Other
Documents and the Related Transactions, including, without limitation, any Consents required under all applicable federal, state or other applicable law. 
 “Contract Right” shall mean any right of each Loan Party to payment under a contract for the sale or lease of goods or the rendering of services, which right is at the time not yet earned by
performance. 
 “Control Notice” shall mean a written notice delivered by the Lender pursuant to a “control”
or other agreements instructing the depository bank to comply with instructions originated by the Lender with respect to the Blocked Account that is covered thereby without further consent of Loan Parties. 

“Controlled Affiliate” of any Person shall mean any Person which, directly or indirectly, is in control of, is controlled by,
or is under common control with such Person. For purposes of this definition, control of a Person shall mean the power, direct or indirect, to (a) vote fifty-one (51%) percent or more of the Equity Interests having ordinary voting power
for the election of directors or managers (or other comparable body) of such Person, and (b) to direct or cause the direction of the management and policies of such Person whether by contract or otherwise. 

“Controlled Group” shall mean all members of a controlled group of corporations and all trades or businesses (whether or not
incorporated) under common control which, together with any Loan Party, are treated as a single employer under Section 414 of the Code. 
 “Currency Due” shall have the meaning set forth in Section 16.5. 

“Customer” shall mean and include the account debtor with respect to any Receivable and/or the prospective purchaser of goods,
services or both with respect to any contract or Contract Right, and/or any party who enters into or proposes to enter into any contract or other arrangement with any Loan Party, pursuant to which such Loan Party is to deliver any personal property
or perform any services. 
 “Customs” shall mean the United States of America Customs and Border Protection Agency of
the United States Department of Homeland Security. 
 “Default” shall mean an event which, with the giving of notice
or passage of time or both, would constitute an Event of Default. 
 “Default Rate” shall have the meaning set forth
in the Term Note. 

  
 7 

 “Depository Accounts” shall have the meaning set forth in Section 4.14(h).

 “Disposition” shall have the meaning set forth in Section 7.1; and “Dispose” shall have the
correlative meaning. 
 “Dollar” and the sign “$” shall mean lawful money of the United States of America.

 “Dollar Equivalent” shall mean, at any time, (a) as to any amount denominated in Dollars, the amount thereof
at such time, and (b) as to any amount denominated in a currency other than Dollars, the equivalent amount in Dollars as reasonably determined by the Lender at such time that such amount could be converted into Dollars by the Lender according
to prevailing exchange rates selected by the Lender. 
 “EBITDA” shall mean for any period, without duplication, the
total of the following for Loan Parties and their Subsidiaries on a consolidated basis, each calculated for such period: 
 (a)
Net Income; plus 
 (b) (without duplication), to the extent included in the calculation of Net Income, the sum of
(i) income and franchise taxes paid or accrued, (ii) Interest Expense, net of interest income, paid or accrued, (iii) amortization and depreciation, (iv) non-cash impairment charges, (v) non-cash compensation expense in an
amount not to exceed $2,000,000 in the aggregate during any fiscal year, (vi) non-cash equity charges, (vii) non-cash charges related to acquisition, severance and reserves in an amount not to exceed $500,000 in the aggregate during any
fiscal year and (viii) severance costs paid during such period in an amount not to exceed $375,000 in the aggregate during any fiscal year; less 
 (c) (without duplication), to the extent included in the calculation of Net Income, the sum of (i) the income of any Person (other than a Loan Party or a Subsidiary of any Loan Party) in which any
Loan Party or a Subsidiary of any Loan Party has an ownership interest except to the extent such income is received by any Loan Party or such Subsidiary in a cash distribution during such period, (ii) gains or losses from sales or other
dispositions of assets (other than sales of Inventory in the normal course of business) and (iii) the greater of (A) $0 and (B) the sum of extraordinary or non-recurring gains less extraordinary or non-recurring losses; 

provided that notwithstanding the foregoing, for purposes of the calculations set forth in Section 7.6(b) and (c), EBITDA shall be deemed to
be (i) $2,300,000 for the fiscal quarter ended June 30, 2011, (ii) $1,600,000 for the fiscal quarter ended September 30, 2011 and (iii) ($400,000) for the fiscal quarter ended December 31, 2011. 

“Environmental Complaint” shall have the meaning set forth in Section 4.18(d). 

“Environmental Laws” shall mean all federal, state, provincial, local and other environmental, land use, zoning, health,
chemical use, safety and sanitation laws, statutes, ordinances and codes relating to the protection of the environment and/or governing the use, storage, treatment, generation, transportation, processing, handling, production or disposal of
Hazardous Substances and the rules, regulations, policies, formal agency, interpretations, decisions, orders and directives of federal, state, local and other Governmental Body with respect thereto. 

  
 8 

 “Equipment” shall mean and include as to each Loan Party and each of its
Subsidiaries, all of such Loan Party’s and Subsidiary’s, whether now owned or hereafter acquired and wherever located equipment, machinery, apparatus, motor vehicles, fittings, furniture, furnishings, fixtures, parts, accessories, and all
other goods (other than Inventory) and all replacements and substitutions therefor or accessions thereto. 
 “Equity
Interest Option Holders” shall mean those directors, officers and employees holding options and/or warrants in respect of the Equity Interests of Parent. 
 “Equity Interests” shall mean, with respect to any Person, any and all shares, interests, participations or other equivalents (however designated) of such Person’s capital stock or
partnership, limited liability company or other equity interests at any time outstanding, and any and all rights, warrants or options exchangeable for or convertible into such capital stock or other interests (but excluding any debt security that is
exchangeable for or convertible into such capital stock or other equity interests). 
 “ERISA” shall mean the Employee
Retirement Income Security Act of 1974, as amended from time to time and the rules and regulations promulgated thereunder. 

“ERISA Affiliate” shall mean, with respect to any Loan Party, any trade or business (whether or not incorporated) that,
together with such Loan Party, are treated as a single employer within the meaning of Sections 414(b), (c), (m) or (o) of the Code. 
 “ERISA Event” shall mean, with respect to any Loan Party or any ERISA Affiliate, (a) any event described in Section 4043(c) of ERISA with respect to a Title IV Plan; (b) the
withdrawal of any Loan Party or ERISA Affiliate from a Title IV Plan subject to Section 4063 of ERISA during a plan year in which it was a substantial employer, as defined in Section 4001(a)(2) of ERISA; (c) the complete or partial
withdrawal of any Loan Party or any ERISA Affiliate from any Multiemployer Plan; (d) the filing of a notice of intent to terminate a Title IV Plan or the treatment of a plan amendment as a termination under Section 4041 of ERISA;
(e) the institution of proceedings to terminate a Title IV Plan or Multiemployer Plan by the PBGC; (f) the failure by any Loan Party or ERISA Affiliate to make when due required contributions to a Multiemployer Plan or Title IV Plan unless
such failure is cured within thirty (30) days; (g) the imposition of a lien under Section 412 or 430 of the Code or Section 303 or 4068 of ERISA on any property (or rights to property, whether real or personal) of any ERISA
Affiliate; (h) a Title IV Plan is in “at risk status” within the meaning of Code Section 430(i), (i) a Multiemployer Plan is in “endangered status” or “critical status” within the meaning of Code
Section 432(b); (j) an ERISA Affiliate incurs a substantial cessation of operations within the meaning of ERISA Section 4062(e), with respect to a Title IV Plan; (k) any other event or condition that might reasonably be expected
to constitute grounds under Section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any Title IV Plan or Multiemployer Plan or for the imposition of liability under Section 4069 or 4212(c) of ERISA;
(l) the termination of a Multiemployer Plan under Section 4041A of ERISA or the reorganization or insolvency of a Multiemployer Plan under Section 4241 or 4245 of ERISA; or (m) the revocation or threatened revocation of a
Qualified Plan’s qualification or tax exempt status; or (n) the termination of a Plan described in Section 4064 of ERISA. 

  
 9 

 “ESOP” shall mean a Plan that is intended to satisfy the requirements of
Section 4975(e)(7) of the Code. 
 “Event of Default” shall mean the occurrence of any of the events set forth in
Section 10. 
 “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended, together with all
rules, regulations and interpretations thereunder or related thereto. 
 “Excess Availability” shall have the meaning
set forth in the Revolving Loan Agreement. 
 “Excluded Assets” shall mean: 

(a) any Excluded Equity Interests; 
 (b) each instrument, contract (including each Intellectual Property-related contract and any Accounts and other Receivables arising under such contract), chattel paper, license, permit, General
Intangible, and other agreement that is with, or issued by, a Person that is not a Loan Party or Affiliate of any Loan Party, but only while, and only to the extent that, the grant of a security interest therein pursuant to this Agreement would
result in a default or penalty under, or a breach, violation or termination of, such instrument, contract, chattel paper, license, permit, General Intangible, or other agreement (any such provisions that would result in any of the foregoing being
referred to herein as a “Restriction”; and any such asset or property, or interest thereon, that is at any time subject to a Restriction being referred to herein as a “Restricted Asset”), except, in each case, to the extent that,
pursuant to the Code or other applicable law, the grant of a security interest therein can be made without resulting in a default or penalty thereunder or breach, violation or termination thereof; provided, that, none of the foregoing
assets and properties, or interests therein, shall constitute Excluded Assets if (i) the Restriction applicable thereto has been waived or such other Person has otherwise consented to the creation hereunder of a security interest in such
Restricted Asset, or (ii) such Restriction would be rendered ineffective pursuant to Section 9-406, 9-407, 9-408 or 9-409 of Article 9 of the UCC, as applicable, and as then in effect in any relevant jurisdiction, or any other applicable
law (including the Bankruptcy Code or the PPSA) or principles of equity; provided further, that, (A) immediately upon the ineffectiveness, lapse or termination of any such Restriction with respect to a Restricted Asset (a
“Non-Restricted Asset”), such Loan Party shall be deemed to have automatically, without further act by any Loan Party, the Lender or any other Person, granted a security interest in, all its rights, title and interests in and to such
Non-Restricted Asset as if such Restriction had never been in effect; and (B) the foregoing exclusion shall in no way be construed so as to limit, impair or otherwise affect the Lender’s unconditional continuing security interest in and to
all rights, title and interests of such Loan Party in or to any payment obligations or other rights to receive monies due or to become due under any such Restricted Asset and in any such monies and other proceeds of such Restricted Asset;

 (c) applications for any trademarks that have been filed with the U.S. Patent and Trademark Office on the basis of an
“intent-to-use” with respect to such marks, unless and until a statement of use or amendment to allege use is filed and accepted by the U.S. Patent and Trademark Office or any other filing is made or circumstances otherwise change so that
the interests of a Loan Party in such marks is no longer on an “intent-to-use” basis, at which time such marks shall automatically and without further action by the parties be subject to the security interests and liens granted by a Loan
Party to the Lender hereunder; 

  
 10 

 (d) any Restricted Account but only while, and only to the extent that, the grant of a
security interest therein pursuant to this Agreement is prohibited under applicable law; 
 (e) any “consumer goods”
within the meaning of the PPSA of Canadian Guarantor; 
 (f) the last day of any term of any lease (whether oral or written) or
any agreement to lease (but Canadian Guarantor will stand possessed of any such revision in trust for the Lender or as the Lender may direct and Canadian Guarantor will assign and dispose thereof in accordance with such directions); and 

(g) any property of any Loan Party to the extent that the Lender shall determine in its sole discretion that the costs of obtaining a
Lien in such property is excessive in relation to the value of the security to be afforded thereby. 
 “Excluded Equity
Interests” shall mean (a) voting Equity Interests issued by a Non-US Subsidiary that is a CFC and a “first-tier” foreign Subsidiary (other than the Canadian Guarantor) representing in excess of sixty-six (66%) percent (or
such greater percentage to the extent such greater percentage would not result in a material adverse tax consequence to Loan Parties under Treas. Reg. Section 1.956-2) of the voting Equity Interests of such Non-US Subsidiary and (b) the
Equity Interests of any Non-US Subsidiary that is not a “first-tier” foreign Subsidiary. 
 “Excluded Tax”
shall mean, (a) with respect to the Lender (as defined in Section 2.13) any Tax imposed on (or measured by) the Lender’s gross revenues or net income (however denominated) and any franchise tax (in each case imposed in lieu of a net
income tax) by any jurisdiction (or any political subdivision thereof) under the laws of which the Lender is organized or in which its principal office or its applicable lending office is located, and any branch profits taxes imposed on the Lender
by the United States or any similar tax imposed on the Lender by a jurisdiction in which the Lender is resident for tax purposes, and (b) in the case of a Lender organized under the laws of a jurisdiction outside the United States, any federal
withholding Taxes resulting from any law in effect (including FATCA) on the date such Lender becomes a party to this Agreement (or designates a new lending office) or is attributable to such Lender’s failure to comply with Section 16.3(f)
or Section 16.3(h). 
 “Existing Deposit Accounts” shall have the meaning set forth in Section 4.14(h).

 “Existing Deposit Banks” shall mean, collectively, Wells Fargo Bank, N.A., Bank of America, N.A. and Royal Bank of
Canada. 
 “Extraordinary Receipts” shall mean any cash received by any Loan Party or any of their respective
Subsidiaries consisting of (a) proceeds of judgments, proceeds of settlements or other consideration of any kind in connection with any cause of action, (b) indemnity payments (other than to the extent such indemnity payments are
(i) immediately payable to a Person that is not a Loan Party or any of their respective Subsidiaries, or (ii) received by a Loan Party or any of their respective Subsidiaries as reimbursement for any payment previously made to such
Person), (c) any purchase price adjustment received in connection with any purchase or other acquisition agreement, (d) tax refunds, (e) pension plan reversions, (f) proceeds of insurance (other than such proceeds described in
Section 2.5(a)) and (g) at any time that an Event of Default has occurred and is continuing, at the sole discretion of the Lender, any other cash received by any Loan Party or any of their respective Subsidiaries not in the ordinary course
of business (and not consisting of proceeds described in Section 2.5(a) of this Agreement). 

  
 11 

 “FATCA” shall mean Sections 1471 through 1474 of the Code and any regulations or
official interpretations thereof (including any Revenue Ruling, Revenue Procedure, Notice or similar guidance issued by the U.S. Internal Revenue Service thereunder as a precondition to relief or exemption from taxes under such provisions).

 “Fee Letter” shall mean the Fee Letter, dated as of the date hereof, by and among the Borrowers and the Lender, as
amended, restated, modified and supplemented from time to time. 
 “Fixed Charge Coverage Ratio” shall mean, with
respect to Loan Parties and their Subsidiaries on a consolidated basis, for any applicable period, the ratio of (a) EBITDA for such period minus all unfinanced Capital Expenditures (other than Capital Expenditures financed with proceeds of
debt, asset Dispositions (other than sales of inventory) and insurance and condemnation proceeds in an amount not to exceed the amount of any such proceeds) made during such period minus cash taxes paid during such period, to (b) Fixed Charges
for such period. 
 “Fixed Charges” shall mean, as to Loan Parties and their Subsidiaries determined on a
consolidated basis, with respect to any period, the sum of, without duplication, (a) all Cash Interest Expense during such period, plus (b) all regularly scheduled (as determined at the beginning of the respective period) principal
payments of Money Borrowed, Indebtedness with respect to earn-outs and similar obligations and Indebtedness with respect to Capital Leases, in each case made or required to be made during such period (and without duplicating items in (a) and
(b) of this definition, the interest component with respect to Indebtedness under Capital Leases paid in cash), plus (c) all taxes paid or required to be paid during such period in cash, plus (d) all cash dividends or
other cash distributions made or required to be made on account of Equity Interests (other than those made to a Loan Party) and all repurchases or redemptions of Equity Interests (other than those made to a Loan Party) made or required to be made
during such period, plus (e) all management and similar fees paid in cash to any Affiliate of Loan Parties and their Subsidiaries for such period. 
 “GAAP” shall mean generally accepted accounting principles in the United States of America in effect from time to time, as may be amended from time to time by the Financial Accounting Standards
Board; except, that, if there occurs after the date of this Agreement any change in GAAP that affects in any respect the calculation of any covenant contained in Section 7.6 hereof, the Lender and the Borrowers shall negotiate in
good faith amendments to the provisions of this Agreement that relate to the calculation of such covenants with the intent of having the respective positions of the Lender and the Borrowers, after such change in GAAP conform as nearly as possible to
their respective positions as of the date of this Agreement and, until any such amendments have been agreed upon, the covenants in Section 7.6 hereof shall be calculated on the basis of such principles in effect prior to such change and
consistent with those used in the preparation of the most recent audited financial statements delivered to the Lender prior to the date of such change. 

  
 12 

 “General Intangibles” shall mean and include as to each Loan Party and each of its
Subsidiaries, all of such Loan Party’s and Subsidiary’s general intangibles (as such term is defined in the UCC) and intangibles (as such term is defined in the PPSA), whether now owned or hereafter acquired including, without limitation,
all payment intangibles, choses in action, commercial tort claims, causes of action, corporate or other business records, inventions, designs, patents, patent applications, equipment formulations, manufacturing procedures, quality control
procedures, trademarks, service marks, trade secrets, goodwill, copyrights, design rights, registrations, licenses, franchises, customer lists, tax refunds, tax refund claims, computer programs and computer software, all claims under guaranties,
Liens or other security held by or granted to such Loan Party or Subsidiary to secure payment of any of the Receivables by a Customer, all rights of indemnification and all other intangible property of every kind and nature (other than Receivables).

 “Governmental Body” shall mean any nation or government, any state, province or other political subdivision thereof
or any entity exercising the legislative, judicial, regulatory or administrative functions of or pertaining to a government. 

“Gross Profit” of any Person shall mean the total revenue of such Person for the applicable period less the cost of goods sold,
as determined in accordance with GAAP consistently applied as in effect on the Closing Date. 
 “Guarantee” shall mean
the guarantee set forth in Section 15 of this Agreement and any other guarantee of the Obligations of the Borrowers now or hereafter executed by a Guarantor in favor of the Lender. 

“Guarantor” or “Guarantors” shall have the meaning set forth in the preamble to this Agreement and shall extend to
all permitted successors and assigns of such Persons as well as each other Subsidiary of Parent and the Borrowers that becomes a guarantor of any of the Obligations after the Closing Date pursuant to Section 7.12(a) or otherwise. 

“Hazardous Discharge” shall have the meaning set forth in Section 4.18(d). 

“Hazardous Substance” shall mean, without limitation, any flammable explosives, radon, radioactive materials, asbestos, urea
formaldehyde foam insulation, polychlorinated biphenyls, petroleum and petroleum products, methane, hazardous materials, Hazardous Wastes, hazardous or Toxic Substances or related materials as defined in CERCLA, the Hazardous Substances
Transportation Act, as amended (49 U.S.C. Sections 1801, et seq.), RCRA, Articles 15 and 27 of the New York State Environmental Conservation Law or any other applicable Environmental Law and in the regulations adopted pursuant thereto. 

“Hazardous Wastes” shall mean all waste materials subject to regulation under CERCLA, RCRA or applicable state or other law,
and any other applicable federal, state, provincial or other laws now in force or hereafter enacted relating to hazardous waste disposal. 
 “Hedging Agreements” shall mean an agreement between any Loan Party and any financial institution that is a rate swap agreement, basis swap, forward rate agreement, commodity swap, interest rate
option, forward foreign exchange agreement, spot foreign exchange agreement, rate cap agreement rate, floor agreement, rate collar agreement, currency swap agreement, cross-currency rate swap agreement, currency option, any other similar agreement
(including any option to enter into any of the foregoing or a master agreement for any of the foregoing together with all supplements thereto) for the purpose of protecting against fluctuations in or managing exposure with respect to interest or
exchange rates, currency valuations or commodity prices. 

  
 13 

 “Indebtedness” of a Person at a particular date shall mean (a) all
indebtedness for Money Borrowed of such Person whether direct or guaranteed; (b) that portion of obligations with respect to Capital Leases that is properly classified as a liability on a balance sheet in conformity with GAAP consistently
applied; (c) notes payable and drafts accepted representing extensions of credit; (d) any obligation owed for all or any part of the deferred purchase price of property or services if the purchase price is due more than six (6) months
from the date the obligation is incurred or is evidenced by a note or similar written instrument (including, without limitation, the maximum potential amount of all earn-outs and similar deferred payment obligations regardless of the length of
deferral); (e) all indebtedness secured by any Lien on any property or asset owned or held by that Person regardless of whether the indebtedness secured thereby shall have been assumed by that Person or is non-recourse to the credit of that
Person; (f) any contractual obligation, contingent or otherwise, of such Person to pay or be liable for the payment of any indebtedness described in this definition of another Person, including, without limitation, any such indebtedness,
directly or indirectly guaranteed, or any agreement to purchase, repurchase, or otherwise acquire such indebtedness, obligation or liability or any security therefor, or to provide funds for the payment or discharge thereof, or to maintain solvency,
assets, level of income, or other financial condition; (g) all obligations evidenced by bonds, debentures, notes or similar instruments; (h) all reimbursement obligations and other liabilities of such Person with respect to surety bonds
(whether bid, performance or otherwise), letters of credit, banker’s acceptances, drafts or similar documents or instruments issued for such Person’s account; (i) all obligations, liabilities and indebtedness of such Person (marked to
market) arising under Hedging Agreements; and (j) the principal and interest portions of all rental obligations of such Person under any synthetic lease or similar off-balance sheet financing where such transaction is considered to be borrowed
money for tax purposes but is classified as an operating lease in accordance with GAAP consistently applied, in each case whether such liabilities are present or future, actual or contingent and whether owned jointly or severally. 

“Intellectual Property” shall mean all trade secrets and other proprietary information; trademarks, service marks, business
names, Internet domain names, designs, logos, trade dress, slogans, indicia and other source and/or business identifiers, and the goodwill of the business relating thereto and all registrations or applications for registrations which have heretofore
been or may hereafter be issued thereon throughout the world; copyrights (including copyrights for computer programs and software) and copyright registrations or applications for registrations which have heretofore been or may hereafter be issued
throughout the world and all tangible property embodying the copyrights; unpatented inventions (whether or not patentable); patent applications and patents; industrial designs, industrial design applications and registered industrial designs;
license agreements related to any of the foregoing and income therefrom; books, records, writings, computer tapes or disks, flow diagrams, specification sheets, source codes, object codes and other physical manifestations, embodiments or
incorporations of any of the foregoing; the right to sue for all infringements of any of the foregoing; and all common law and other rights throughout the world in and to all of the foregoing. 

  
 14 

 “Intercreditor Agreement” shall mean that certain Intercreditor Agreement, dated
as of the date hereof, by and between the Lender and the Revolving Loan Agent, and acknowledged and agreed to by Loan Parties. 

“Interest Expense” shall mean, for any period, as to any Person, as determined in accordance with GAAP consistently applied,
the total interest expense of such Person, whether paid or accrued during such period but without duplication (including the interest component of Capital Leases for such period). 

“Inventory” shall mean and include as to each Loan Party and each Subsidiary of each Loan Party, all of such Loan Party’s
and Subsidiary’s now owned or hereafter acquired inventory (as such term is defined in the UCC or the PPSA, as applicable), goods, merchandise and other personal property, wherever located, to be furnished under any contract of service or held
for sale or lease, all raw materials, work in process, finished goods and materials and supplies of any kind, nature or description which are or might be used or consumed in such Loan Party’s or Subsidiary’s business or used in selling or
furnishing such goods, merchandise and other personal property, all other inventory of such Loan Party or Subsidiary, and all documents of title or other documents representing them. 

“Investment Property” shall mean any “investment property” as such term is defined in Section 9-102 of the UCC
or the PPSA, as applicable, now owned or hereafter acquired by any Loan Party or any of its Subsidiaries, wherever located, including (a) all securities, whether certificated or uncertificated, including stocks, bonds, interests in limited
liability companies, partnership interests, treasuries, certificates of deposit, and mutual fund shares; (b) all securities entitlements of any Loan Party or Subsidiary, including the rights of any Loan Party or Subsidiary to any securities
account and the financial assets held by a securities intermediary in such securities account and any free credit balance or other money owing by any securities intermediary with respect to that account; (c) all securities accounts of any Loan
Party or Subsidiary; (d) all commodity contracts of any Loan Party or Subsidiary; and (e) all commodity accounts held by any Loan Party or Subsidiary. 
 “IRS” shall mean the United States Internal Revenue Service. 

“Judgment Currency” shall have the meaning set forth in Section 16.5. 

“Lender” and “Lender” shall have the meaning ascribed to such term in the preamble to this Agreement and shall
include each Person which becomes a transferee, successor or assign of any Lender. 
 “Lien” shall mean any mortgage,
deed of trust, pledge, hypothecation, assignment, security interest, lien (whether statutory or otherwise), charge, claim or encumbrance, or preference, priority or other security agreement or preferential arrangement held or asserted in respect of
any asset of any kind or nature whatsoever including, without limitation, any conditional sale or other title retention agreement, any lease having substantially the same economic effect as any of the foregoing, and the filing of, or agreement to
give, any financing statement under the UCC, PPSA or comparable law of any jurisdiction. Any reference to the Lien of the Lender shall be construed in the broadest sense possible and shall in each case include a security interest and other Lien as
the context implies. 

  
 15 

 “Loan Party” shall mean, individually, each Borrower and each Guarantor, and
“Loan Parties” shall mean, collectively, the Borrowers and the Guarantors. 
 “Lowes” shall mean Lowes
Companies, Inc. 
 “Material Adverse Effect” shall mean a material adverse effect on (a) the financial condition,
operations, assets or business of any Borrower on an individual basis and/or Loan Parties and their Subsidiaries taken as a whole, (b) any Loan Party’s ability to pay the Obligations or to comply with this Agreement or any Other Document
in accordance with the terms hereof or thereof, (c) the value of the Collateral, or the Lender’s Liens on the Collateral or the priority of any such Lien or (d) the Lender’s ability to realize on the Collateral or otherwise
enforce the terms of this Agreement or any of the Other Documents. 
 “Material Contracts” shall have the meaning set
forth in Section 5.21. 
 “Maximum Credit” shall have the meaning as defined in the Revolving Loan Agreement as
in effect on the date hereof; it being understood and agreed that after the date hereof, the Maximum Credit may be increased in accordance with Section 2.19 of the Revolving Loan Agreement as in effect on the date hereof and the term
“Maximum Credit” as used herein shall mean the Maximum Credit as so increased. 
 “Maximum Lawful Rate”
shall have the meaning set forth in Section 2.7. 
 “Money Borrowed” shall mean (a) Indebtedness for
borrowed money arising from the lending of money by any Person to any Loan Party or any of their respective Subsidiaries, (b) Indebtedness, whether or not in any such case arising from the lending by any Person of money to any Loan Party or any
of their respective Subsidiaries, (i) which is represented by notes payable or drafts accepted that evidence extensions of credit, (ii) which constitutes obligations evidenced by bonds, debentures, notes or similar instruments, or
(iii) upon which interest charges are customarily paid (other than accounts payable) or that was issued or assumed as full or partial payment for property, (c) reimbursement obligations with respect to letters of credit or guaranties of
letters of credit, and (d) Indebtedness of any Loan Party or any of their respective Subsidiaries under any guarantee of obligations that would constitute Indebtedness for Money Borrowed under clauses (a), (b) or (c) hereof, if owed
directly by any Loan Party or any of their respective Subsidiaries. 
 “Multiemployer Plan” shall mean a
“multiemployer plan” as defined in Sections 3(37) and 4001(a)(3) of ERISA. 
 “Net Income” shall mean, for
any period, the aggregate income (or loss) of Loan Parties and their Subsidiaries for such period, all computed and calculated in accordance with GAAP consistently applied on a consolidated basis. 

“Non-Restricted Asset” shall have the meaning as set forth in the definition of Excluded Assets. 

“Non-US Loan Party” shall mean a Loan Party other than a US Loan Party. 

“Non-US Subsidiary” shall mean any Subsidiary other than a US Subsidiary. 

  
 16 

 “Obligations” shall mean and include any and all of each Loan Party’s
Indebtedness and/or liabilities pursuant to or evidenced by this Agreement, the Term Note, the Warrants or any Other Documents to the Lender of every kind, nature and description, direct or indirect, secured or unsecured, joint, several, joint and
several, absolute or contingent, due or to become due, now existing or hereafter arising, contractual or tortious, liquidated or unliquidated, regardless of how such indebtedness or liabilities arise (including all interest accruing after the
commencement of any bankruptcy or similar proceeding whether or not enforceable in such proceeding) and all obligations of any Loan Party to the Lender to perform acts or refrain from taking any action under this Agreement or any Other Documents.

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

“Operating Account” or “Operating Accounts” shall mean, individually or collectively, the operating accounts
established and maintained by Loan Parties and which are designated as such and listed on Schedule 5.23. 

“Original Term” shall have the meaning set forth in Section 13.1. 

“Other Documents” shall mean the Term Note, the Questionnaire, any Guarantee, any Collateral Access Agreement, the
Intercreditor Agreement, the Warrants, the Registration Rights Agreement and any and all other agreements, instruments and documents, including, without limitation, guaranties, pledges, security agreements, mortgages, deeds of trust, debentures,
control agreements, other collateral documents, subordination agreements, intercreditor agreements, powers of attorney, consents, and all other writings heretofore, now or hereafter executed and/or delivered by any Loan Party to the Lender in
respect of the transactions contemplated by this Agreement, in each case, as such agreements, instruments and documents are amended, restated, modified or supplemented from time to time. 

“Parent” shall have the meaning set forth in the preamble to this Agreement and shall include its successors and assigns.

 “Participant” shall have the meaning set forth in Section 16.3(b). 

“Payment in Full” or “Paid in Full” shall mean all of the Obligations have been paid in full in cash or, in the case
of any contingent Obligations, each Loan Party shall have furnished the Lender with cash collateral from a Person, and pursuant to terms and conditions which are satisfactory to the Lender in all respects, or indemnification from a Person consistent
with the terms and provisions of this Agreement. 
 “PBGC” shall mean the Pension Benefit Guaranty Corporation.

 “Permitted Acquisition” shall mean the purchase by a Borrower or wholly-owned US Subsidiary of Borrower that is a
Loan Party after the date hereof of all or substantially all of the assets or property or all of the Equity Interests of any Person or any business unit or division of such Person (such assets or Person being referred to herein as the
“Target”), subject to the satisfaction of each of the following conditions: 

  
 17 

 (a) the Lender shall receive at least thirty (30) days’ prior written notice of
such proposed Permitted Acquisition, which notice shall include a reasonably detailed description of such proposed Permitted Acquisition; 
 (b) the Target’s assets shall only comprise a business of the type engaged in by Loan Parties as of the date hereof or ancillary businesses reasonably related to the business engaged in by Loan
Parties as of the date hereof, and which business would not subject the Lender to regulatory or third party approvals in connection with the exercise of its rights and remedies under this Agreement or any Other Documents other than approvals
applicable to the exercise of such rights and remedies with respect to Loan Parties prior to such proposed Permitted Acquisition; 
 (c) the total cash and non-cash consideration paid by Loan Parties and their Subsidiaries (including, without limitation, assumption or incurrence of all Indebtedness (including without limitation
earn-outs and deferred purchase price obligations)) for (i) all Permitted Acquisitions shall not exceed $10,000,000 in the aggregate during the Term or (ii) any Permitted Acquisition shall not exceed $3,000,000; 

(d) subject to the limitation in clause (c) immediately above and all of the other terms and conditions of this Agreement, Borrowers
may use proceeds of Revolving Advances in an aggregate amount not to exceed (i) $3,000,000 in the aggregate during the Term to fund the consideration paid by Loan Parties in all Permitted Acquisitions or (ii) $1,000,000 to fund the
consideration paid by Loan Parties in any single Permitted Acquisition; provided, that, at the time of any such proposed usage of Revolving Advances and after giving effect thereto, Excess Availability (i) for the thirty
(30) consecutive day period immediately prior to the date of the consummation of such proposed Permitted Acquisition is not less than $7,500,000 and (ii) is not less than $7,500,000 on the date of and after giving effect to any such
proposed Permitted Acquisition; 
 (e) Loan Parties and their Subsidiaries (including the Target), on a consolidated basis,
shall have a Fixed Charge Coverage Ratio of 1.1:1.0 on the date of and on a pro forma basis for the trailing twelve (12) month period after giving effect to such proposed Permitted Acquisition; 

(f) Target must have had a positive EBITDA on a cumulative basis for the immediately preceding four (4) fiscal quarters and no more
than one (1) fiscal quarter during such four fiscal quarter period may have a negative EBITDA; 
 (g) at or prior to the
closing of such proposed Permitted Acquisition, the Lender will be granted a second priority perfected security interest and lien (subject to Permitted Encumbrances) in all assets and Equity Interests (other than Excluded Assets) acquired in
connection therewith and each Person acquired in connection therewith shall have joined this Agreement as a Guarantor and each Loan Party and each Person acquired in connection therewith shall have executed (or caused to be executed) such documents
and taken such actions as may be required by the Lender in its Permitted Discretion in connection therewith; 
 (h) such
proposed Permitted Acquisition shall not be hostile and, prior to its closing, shall have been approved by the board of directors (or other similar body) and/or the stockholders or other equity holders of the Target; 

  
 18 

 (i) such proposed Permitted Acquisition shall only involve assets located in the United
States; 
 (j) all material consents necessary for such proposed Permitted Acquisition (including such consents as the Lender
deems reasonably necessary) have been acquired and such proposed Permitted Acquisition is consummated in accordance with the applicable acquisition documents and applicable law; 

(k) each of the representations and warranties made by any Loan Party in or pursuant to this Agreement and any Other Document to which it
is a party, and each of the representations and warranties contained in any certificate, document or financial or other statement furnished at any time under or in connection with this Agreement or any Other Document shall be true and correct in all
material respects (without duplication of any materiality qualifiers already set forth therein) on and as of such date such proposed Permitted Acquisition is consummated both before and after giving effect thereto as if made on and as of such date,
except to the extent that such representations and warranties expressly relate solely to an earlier date (in which case such representations and warranties shall have been true and correct in all material respects (without duplication of any
materiality qualifiers already set forth therein) on and as of such earlier date); 
 (l) Administrative Borrower shall have
delivered to the Lender, in form and substance reasonably satisfactory to the Lender: 
 (A) a pro forma
consolidated balance sheet, income statement and cash flow statement of Parent and its Subsidiaries (the “Acquisition Pro Forma”), based on recent financial statements, which shall be complete and shall fairly present in all material
respects the assets, liabilities, financial condition and results of operations of Parent and its Subsidiaries in accordance with GAAP consistently applied, but taking into account such proposed Permitted Acquisition and the funding of all Revolving
Advances in connection therewith, and such Acquisition Pro Forma shall reflect that (x) Excess Availability criteria set forth above has been satisfied, and (y) on a pro forma basis, no Default or Event of Default has occurred and is
continuing or would result after giving effect to such proposed Permitted Acquisition and Borrowers would have been in compliance with the financial covenants set forth in Section 7.6 for the four (4) quarter period reflected in the
Compliance Certificate most recently delivered to the Lender pursuant to Section 9.7 prior to the consummation of such proposed Permitted Acquisition (after giving effect to such proposed Permitted Acquisition and all Revolving Advances funded
in connection therewith as if made on the first
(1st) day of such period); 

(B) updated versions of the most recently delivered projections delivered pursuant to Section 5.5(b) covering the one (1) year
period commencing on the date of such proposed Permitted Acquisition and otherwise prepared in accordance with such projections (the “Acquisition Projections”) and based upon historical financial data of a recent date reasonably
satisfactory to the Lender, taking into account such proposed Permitted Acquisition; and 

  
 19 

 (C) a certificate of the chief financial officer of Administrative Borrower to the effect
that: (w) each Loan Party (after taking into consideration all rights of contribution and indemnity such Loan Party has against each other Loan Party) will be Solvent upon the consummation of such proposed Permitted Acquisition; (x) the
Acquisition Pro Forma fairly presents the financial condition of Loan Parties and their Subsidiaries (on a consolidated and consolidating basis) as of the date thereof after giving effect to such proposed Permitted Acquisition; (y) the
Acquisition Projections are reasonable estimates of the future financial performance of Loan Parties and their Subsidiaries subsequent to the date thereof based upon the historical performance of Loan Parties, their Subsidiaries and the Target and
show that Loan Parties and their Subsidiaries shall continue to be in compliance with the financial covenants set forth in Section 6.8 for the remainder of the Term; and (z) Loan Parties have completed their due diligence investigation
with respect to the Target and such proposed Permitted Acquisition, which investigation was conducted in a manner similar to that which would have been conducted by a prudent purchaser of a comparable business and the results of which investigation
were delivered to the Lender; 
 (m) on or prior to the date of such proposed Permitted Acquisition, the Lender shall have
received, in form and substance reasonably satisfactory to the Lender, copies of the acquisition agreement (which shall allow collateral assignments of Loan Parties rights thereunder in favor of the Lender) or merger agreement, as applicable, and
all related agreements and instruments, and all opinions, certificates, lien search results and other documents reasonably requested by the Lender; and 
 (n) concurrently with consummation of such proposed Permitted Acquisition, Administrative Borrower shall have delivered to the Lender a certificate stating that the foregoing conditions have been
satisfied. 
 “Permitted Discretion” shall mean a determination made by the Lender in the exercise of reasonable (from
the perspective of a secured lender) business judgment. 
 “Permitted Encumbrances” shall mean: 

(a) Liens in favor of the Lender, which, in each case, secure Obligations; 

(b) Liens for taxes, assessments or other governmental charges (“Tax Lien”) not delinquent or being contested in good faith and
by appropriate proceedings by the applicable Loan Party or Subsidiary of a Loan Party and with respect to which proper reserves have been taken by Loan Parties and the Subsidiaries; provided, that, the Tax Lien shall have no effect on
the priority of the Liens in favor of the Lender or the value of the Collateral in which the Lender has such a Lien (taking into account any such reserves taken by the Loan Parties) and a stay of enforcement of any such Tax Lien shall be in effect;

 (c) deposits or pledges to secure obligations under worker’s compensation, social security or similar laws, or under
unemployment insurance, in each case made in the ordinary course of business and excluding deposits, liens or pledges under ERISA; 
 (d) deposits or pledges of cash to secure bids, tenders, contracts (other than contracts for the payment of money), leases, statutory obligations, surety and appeal bonds and other obligations of like
nature arising in the ordinary course of the applicable Loan Party’s or Subsidiary’s business; 
 (e) mechanics’,
workers’, materialmen’s, carriers’, warehousemen’s, landlords or other like Liens arising in the ordinary course of the applicable Loan Party’s or Subsidiary’s business with respect to obligations which are (i) not
due or (ii) being contested in good faith and by appropriate proceedings by the applicable Loan Party or Subsidiary of a Loan Party and with respect to which proper reserves have been taken by Loan Parties and the Subsidiaries; provided,
that, the such Lien shall have no effect on the priority of the Liens in favor of the Lender or the value of the Collateral in which the Lender has such a Lien and a stay of enforcement of any such Lien shall be in effect; 

  
 20 

 (f) Liens placed upon fixed assets and intellectual property related to such fixed assets
hereafter acquired by any Loan Party or any Subsidiary to secure a portion of the purchase price thereof; provided, that, (i) any such Lien shall not encumber any other property of Loan Parties or their Subsidiaries and
(ii) the aggregate amount secured by such Liens shall not exceed the applicable amount provided for in Section 7.8(b); 
 (g) Liens in existence on the date hereof that are disclosed on Schedule 7.2; 
 (h) Liens on amounts not exceeding $100,000 in the aggregate deposited as security for surety or appeal bonds in connection with obtaining such bonds in the ordinary course of business; 

(i) with respect to any Real Property, Liens consisting of easements, rights of way and zoning restrictions that do not materially
interfere with or impair the use or operation thereof; 
 (j) Liens on Depository Accounts granted or arising in the ordinary
course of business in favor of depositary banks maintaining such Depository Accounts solely to the extent they secure customary account fees and charges payable in respect of such Depository Accounts; 

(k) non-consensual statutory Liens (other than Liens securing the payment of taxes or ERISA matters) arising in the ordinary course of a
Loan Party or Subsidiary’s business; provided, that, such Liens do not secure Indebtedness or any other amounts in excess of $100,000 in the aggregate which are past due; 

(l) Liens arising from (i) operating leases with respect to assets which are not owned by any Loan Party or any Subsidiary and the
precautionary UCC and PPSA financing statement filings in respect thereof and (ii) equipment or other materials which are not owned by any Loan Party or Subsidiary located on the premises of such Loan Party or Subsidiary (but not in connection
with, or as part of, the financing thereof) from time to time in the ordinary course of business and consistent with current practices of Loan Parties and their Subsidiaries and the precautionary UCC and PPSA financing statement filings in respect
thereof; 
 (m) judgments and other similar Liens arising in connection with court proceedings that do not constitute an Event
of Default; 
 (n) Liens of a collection bank arising under Section 4-210 of the UCC on items in the course of collection;

 (o) Liens in favor of customs and revenue authorities arising as a matter of law to secure custom duties which are not past
due in connection with the importation of goods by Loan Parties or their Subsidiaries in the ordinary course of business; 
 (p)
Liens on specific fixed assets and intellectual property related to such specific fixed assets (as opposed to any blanket lien on any asset type) acquired pursuant to a Permitted Acquisition in existence at the time such assets are acquired pursuant
to such Permitted Acquisition and not created in contemplation thereof; provided, that, such Liens do not attach to any assets other than the assets acquired pursuant to such Permitted Acquisition; 

  
 21 

 (q) receipt of deposits and advances from customers in the ordinary course of business which
may create an interest in the Inventory to be sold to such customers, but which do not constitute contractual Liens granted by a Loan Party or any Subsidiary; 
 (r) Liens securing Indebtedness of any Loan Party under the Revolving Loan Documents, subject in all respect to the Intercreditor Agreement; 

(s) Liens of any counterparty to a Hedging Agreement to secure the Indebtedness permitted under Section 7.8(e); and 

(t) Liens on amounts not exceeding $100,000 in the aggregate deposited as security for corporate credit card programs maintained in the
ordinary course of business. 
 “Person” shall mean any individual, sole proprietorship, partnership, corporation,
company, business trust, joint stock company, trust, unincorporated organization, association, limited liability company, institution, public benefit corporation, joint venture, entity or government (whether federal, state, provincial, county, city,
municipal or otherwise, including any instrumentality, division, agency, body or department thereof). 
 “Plan” shall
mean any employee benefit plan within the meaning of Section 3(3) of ERISA, maintained for employees of Loan Parties or any member of the Controlled Group or any such Plan to which any Loan Party or any member of the Controlled Group is
required to contribute on behalf of any of its employees. 
 “PPSA” shall mean the Personal Property Security Act
(British Columbia) or any other like applicable federal or provincial statute pertaining to the granting, perfecting, priority or ranking of security interests, liens, hypothecs on personal property, and any successor statutes, together with any
regulations thereunder, in each case as in effect from time to time. References to sections of the PPSA shall be construed to also refer to any successor sections. 
 “Pro Forma Balance Sheet” shall have the meaning set forth in Section 5.5(a). 
 “Qualified Plan” shall mean a Plan that is intended to be tax qualified under Section 401(a) of the Code. 
 “Questionnaire” shall mean each of the Information Certificates, each dated as of the date hereof, executed by each Loan Party in favor of the Lender. 

“RCRA” shall mean the Resource Conservation and Recovery Act, 42 U.S.C. §§ 6901 et seq., as same may be amended from
time to time. 
 “Real Property” shall mean all of each Loan Party and each of their Subsidiary’s right, title
and interest in and to its owned and leased premises. 

  
 22 

 “Receivables” shall mean and include, as to each Loan Party and each Subsidiary of
each Loan Party, all of such Loan Party’s and Subsidiary’s Accounts, Contract Rights, instruments (including promissory notes and instruments evidencing indebtedness owed to Loan Parties and their Subsidiaries by their Affiliates),
documents, chattel paper (whether tangible or electronic), general intangibles relating to Accounts, drafts and acceptances, and all other forms of obligations owing to such Loan Party and Subsidiary arising out of or in connection with the sale,
lease or other disposition of Inventory or the rendition of services, all guarantees and other security therefor, whether secured or unsecured, now existing or hereafter created, and whether or not specifically sold or assigned to the Lender
hereunder. 
 “Refill Division” shall mean the filtered drinking water refill business of the Borrowers, whether
operated by one or more of the Borrowers, including, without limitation, the assets owned by any of the Borrowers and acquired from Culligan of Canada, Ltd. and Culligan International Company pursuant to an Asset Purchase Agreement dated as of
March 8, 2011 and from Culligan Store Solutions, LLC pursuant to an Asset Purchase Agreement dated as of June 1, 2010. 
 “Register” shall have the meaning set forth in Section 16.3(d). 

“Registration Rights Agreement” shall mean the Registration Rights Agreement, dated as of the Closing Date, made by the Parent
for the benefit of the Lender and any subsequent holders, as same may be amended, modified, supplemented and/or restated from time to time. 
 “Related Agreements” shall mean the Revolving Loan Documents. 

“Related Transactions” shall mean the transactions contemplated by the Related Agreements. 

“Release” shall have the meaning set forth in Section 5.7(c). 

“Reportable Event” shall mean a reportable event described in Section 4043(b) of ERISA or the regulations promulgated
thereunder. 
 “Responsible Officer” shall mean with respect to any Person, such Person’s chief executive
officer, president, chief operating officer, chief financial officer or other officer having substantially the same authority and responsibility with respect to the matters at hand (or having substantially the same knowledge of the contents of the
certificate, document or other document being delivered). 
 “Restricted Accounts” shall mean deposit accounts or
other accounts (a) established and used (and at all times will be used) solely for the purpose of paying current payroll obligations of Loan Parties (and which do not (and will not at any time) contain any deposits other than those necessary to
fund current payroll), in each case in the ordinary course of business, (b) maintained (and at all times will be maintained) solely in connection with an employee benefit plan, but solely to the extent that all funds on deposit therein are
solely held for the benefit of, and owned by, employees (and will continue to be so held and owned) pursuant to such plan, and (c) used in the ordinary course of business for petty cash, the balance of which shall not exceed $25,000 in the
aggregate at any time; provided, that, without limiting the foregoing, in order for any such deposit account or other account to constitute a “Restricted Account”, such deposit or other account must be expressly designated as
a “Restricted Account” on Schedule 5.23 (as such schedule may from time to time be updated in accordance with Section 5.23), which designation shall constitute a representation and warranty by each Loan Party that such
deposit account or other account satisfies the criteria set forth in this definition to constitute a “Restricted Account”. 

  
 23 

 “Restricted Asset” shall have the meaning as set forth in the definition of
Excluded Assets. 
 “Restriction” shall have the meaning as set forth in the definition of Excluded Assets.

 “Revolving Advances” shall mean all “Advances” as such term is defined in the Revolving Loan Agreement.

 “Revolving Loan Agent” shall mean T.D. Bank, N.A., a national banking association, and its successors and assigns.

 “Revolving Loan Agreement” shall mean that certain Loan and Security Agreement, dated as of the date hereof, by and
among the Revolving Loan Agent, the lenders from time to time party thereto, the Borrowers, and the other Loan Parties party thereto. 
 “Revolving Loan Documents” shall mean the “Other Documents” as defined in the Revolving Loan Agreement. 
 “Revolving Loan Priority Collateral” shall mean the “Revolving Loan Priority Collateral”, as such term is defined in the Intercreditor Agreement. 

“Sanctioned Entity” shall mean (a) an agency of the government of, (b) an organization directly or indirectly
controlled by, or (c) a person resident in, a country that is subject to a sanctions program identified on the list maintained and published by OFAC and available at http://www.treas.gov/offices/enforcement/ofac/programs, or as otherwise
published from time to time as such program may be applicable to such agency, organization or person. 
 “Sanctioned
Person” shall mean a person named on the list of Specially Designated Nationals or Blocked Persons maintained by OFAC available at http://www.treas.gov/offices/enforcement/ofac/sdn/index.html or as otherwise published from time to time.

 “Solvent” shall mean, at any time with respect to any Person, that at such time such Person (a) is able to pay
its debts as they mature and has (and has a reasonable basis to believe it will continue to have) sufficient capital (and not unreasonably small capital) to carry on its business consistent with its practices as of the date hereof, and (b) the
assets and properties of such Person at a fair valuation (and including as assets for this purpose at a fair valuation all rights of subrogation, contribution or indemnification arising pursuant to any guarantees given by such Person) are greater
than the Indebtedness of such Person, and including subordinated and contingent liabilities computed at the amount which, such Person has a reasonable basis to believe, represents an amount which can reasonably be expected to become an actual or
matured liability (and including as to contingent liabilities arising pursuant to any guarantee the face amount of such liability as reduced to reflect the probability of it becoming a matured liability). 

“Stated Rate” shall have the meaning set forth in Section 2.7. 

  
 24 

 “Subordinated Debt” shall mean the subordinated Indebtedness described in
Section 7.8 (i). 
 “Subsidiary” shall mean, with respect to any Person, a corporation, partnership, limited
liability company or other entity of which such Person owns, directly or indirectly, such number of outstanding shares or other equity interests as to have more than 50% of the ordinary voting power for the election of directors or other managers of
such corporation, partnership, limited liability company or other entity. Unless the context otherwise requires, each reference to Subsidiaries herein shall be a reference to Subsidiaries of Borrowers. 

“Target” shall have the meaning as set forth in the definition of Permitted Acquisition. 

“Tax” or “Taxes” shall mean any tax, fee, premium, charge, duty, escheat or other amount imposed by a Governmental
Body and any interest, penalty, or addition to tax imposed with respect thereto or any applicable law, treaty, regulation or directive. 
 “Tax Lien” shall have the meaning as set forth in the definition of Permitted Encumbrances. 
 “Term” shall mean the period commencing on the Closing Date and ending on the Termination Date. 
 “Term Loan” shall mean the term loan made pursuant to Section 2.1(a). 
 “Term Note” shall mean the promissory note of Borrowers issued to the Lender as described in Section 2.1(c) below. 
 “Termination Date” shall have the meaning set forth in Section 13.1. 
 “Termination Event” shall mean (a) a Reportable Event with respect to any Plan or Multiemployer Plan; (b) the withdrawal of any Loan Party or any of their Subsidiaries or any member of
the Controlled Group from a Plan or Multiemployer Plan during a plan year in which such entity was a “substantial employer” as defined in Section 4001(a)(2) of ERISA; (c) the providing of notice of intent to terminate a Plan in a
distress termination described in Section 4041(c) of ERISA; (d) the institution by the PBGC of proceedings to terminate a Plan or Multiemployer Plan; (e) any event or condition (i) which might constitute grounds under
Section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any Plan or Multiemployer Plan, or (ii) that may result in termination of a Multiemployer Plan pursuant to Section 4041A of ERISA; or
(f) the partial or complete withdrawal within the meaning of Sections 4203 and 4205 of ERISA, of any Loan Party, any Subsidiary thereof or any member of the Controlled Group from a Multiemployer Plan. 

“Title IV Plan” shall mean a Plan (other than a Multiemployer Plan), that is covered by Title IV of ERISA, and that any Loan
Party or ERISA Affiliate maintains, contributes to or has an obligation to contribute to on behalf of participants who are or were employed by any of them. 
 “Toxic Substance” shall mean and include any material present on the Real Property or the leasehold interests which has been shown to have significant adverse effect on human health or which is
subject to regulation under the Toxic Substances Control Act (TSCA), 15 U.S.C. §§ 2601 et seq., or any other applicable federal, state, provincial or other laws now in force or hereafter enacted relating to toxic substances. “Toxic
Substance” includes but is not limited to asbestos, polychlorinated biphenyls (PCBs) and lead-based paints. 

  
 25 

 “UCC” shall mean the Uniform Commercial Code as in effect in the State of New York
from time to time; provided, that, when used with respect to Canadian Guarantor or when the context so requires, the term “UCC” shall mean the PPSA. 
 “Unfunded Pension Liability” shall mean, at any time, the aggregate amount, if any, of the sum of (a) the amount by which the present value of all accrued benefits under each Title IV Plan
exceeds the fair market value of all assets of such Title IV Plan allocable to such benefits in accordance with Title IV of ERISA, all determined as of the most recent valuation date for each such Title IV Plan using the actuarial assumptions for
funding purposes in effect under such Title IV Plan, and (b) for a period of five (5) years following a transaction which might reasonably be expected to be covered by Section 4069 of ERISA, the liabilities (whether or not accrued)
that could be avoided by any Loan Party or any ERISA Affiliate as a result of such transaction. 
 “US Loan Party”
shall mean a Loan Party organized, incorporated or otherwise formed under the laws of the United States or any state thereof or the District of Columbia. 
 “US Subsidiary” shall mean a Subsidiary organized, incorporated or otherwise formed under the laws of the United States or any state thereof or the District of Columbia. 

“Voting Equity Interests” shall mean with respect to any Person, (a) one (1) or more classes of Equity Interests of
such Person having general voting powers to elect at least a majority of the board of directors, managers or trustees of such Person, irrespective of whether at the time Equity Interests of any other class or classes have or might have voting power
by reason of the happening of any contingency, and (b) any Equity Interests of such Person convertible or exchangeable without restriction at the option of the holder thereof into Equity Interests of such Person described in clause (a) of
this definition. 
 “Walmart” shall mean Wal-Mart Stores, Inc. 

“Warrants” shall mean the warrants to purchase shares of common equity interests (such warrants covering an aggregate of one
million seven hundred thirty-one thousand four hundred twenty-nine (1,731,429) fully paid non-assessable shares of common stock, with a par value of $.001 per share, of the Parent to be issued by the Parent to the Lender and certain
Participants on the Closing Date. 
 “Waterfall Event” shall mean the occurrence of (a) failure by Borrowers to
repay all of the Obligations as of the end of the Term or after the Obligations have been accelerated, or (b) an Event of Default and the election by the Lender to require that payments and proceeds of Collateral be applied pursuant to
Section 11.2(a). 

  
 26 

 1.3 Uniform Commercial Code Terms. 

All terms used herein and defined in the UCC or, solely with respect to the Canadian Guarantor, in the PPSA, including, as the case may
be, the terms accessions, account debtor, certificated security, chattel paper, commercial tort claim, deposit account, document, electronic chattel paper, equipment, financial asset, fixtures, goods, health-care-insurance receivable, inventory,
instrument, investment property, letter-of-credit rights, payment intangibles, proceeds, securities accounts, security, security entitlement, software, supporting obligations and uncertificated security, shall (i) with respect to any US Loan
Party, have the meaning given in the UCC, or (ii) with respect to the Canadian Guarantor, have the meaning given in the PPSA, in each case, unless otherwise defined herein or unless the context provides otherwise. 

1.4 Certain Matters of Construction. 
 The terms “herein”, “hereof” and “hereunder” and other words of similar import refer to this Agreement as a whole and not to any particular section, paragraph or subdivision.
Each reference to a Section, an Exhibit or a Schedule shall be deemed to refer to a Section, an Exhibit or a Schedule, as applicable, of this Agreement unless otherwise specified. The terms “including” and other words of similar import
refer to “including, but not limited” unless otherwise specified. Any pronoun used shall be deemed to cover all genders. Wherever appropriate in the context, terms used herein in the singular also include the plural and vice versa. All
references to statutes (including the UCC and the PPSA) and related regulations shall include any amendments of same and any successor statutes and regulations. Unless otherwise provided, all references to any instruments or agreements, including,
without limitation, references to this Agreement or any of the Other Documents, shall include any and all modifications or amendments thereto and any and all extensions or renewals thereof to the extent not prohibited by this Agreement or any Other
Document. Unless otherwise provided Dollar ($) baskets set forth in the representations and warranty, covenants and event of default provisions of this Agreement (and other similar baskets) are calculated as of each date of measurement by the
Dollar Equivalents thereof as of such date of measurement. 
 2. TERM LOAN, PAYMENTS. 

2.1 Term Loan. 
 (a) Subject at all times to all of the terms and conditions of this Agreement, the Lender hereby agrees to extend to the Borrowers a Term Loan in the principal amount of $15,150,000. The Term Loan shall
be borrowed in a single borrowing on the Closing Date, and any principal amounts repaid in respect of the Term Loan may not be reborrowed. The Term Loan shall be due and payable in full on the Termination Date, subject to earlier prepayment as
herein provided. 
 (b) The Borrowers shall pay the Lender interest on the principal balance of the Term Loan at the rate(s) per
annum as in effect from time to time in accordance with the Term Note. Such interest shall be payable monthly in arrears on or before the fifth day of each calendar month and on the Termination Date, and shall be computed on the daily unpaid balance
of the Term Loan, based on a three hundred sixty (360) day year, counting the actual number of days elapsed. If any payment to be made hereunder becomes due and payable on a day other than a Business Day, the due date thereof shall be extended
to the next succeeding Business Day and interest thereon shall be payable during such extension. The Borrowers hereby authorize the Lender to charge the Borrowers’ Account for all such interest and/or for any or all principal amounts due and
payable in respect of the Term Loan. 

  
 27 

 (c) The Term Loan shall be evidenced by a secured Term Note of the Borrowers payable,
jointly and severally, to the Lender or its registered assigns substantially in the form of Exhibit A attached hereto. The terms of the Term Note are incorporated into this Agreement by this reference. 

2.2 Fees and Premiums. 
 (a) The Borrowers shall pay the Closing Fee to the Lender on the Closing Date upon the execution and delivery of this Agreement in accordance with the Fee Letter. The Closing Fee shall be deemed fully
earned upon the parties’ execution and delivery of this Agreement, and shall not be refundable in whole or in part and shall not be subject to reduction or set-off under any circumstances. 

(b) In the event of any prepayment of all or any portion of the Term Loan for any reason whatsoever (including
without limitation as a result of any acceleration of the Term Loan resulting from an Event of Default, any mandatory prepayment or any voluntary prepayment), in addition to the payment of the subject principal amount and all unpaid accrued interest
thereon, the Borrowers, jointly and severally, shall be required to pay to the Lender a prepayment premium in an amount equal to (i) seven (7%) percent of the principal amount being prepaid if such prepayment is made or required to be made
on or before the first (1st) anniversary of the
Closing Date, (ii) four (4%) percent of the principal amount being prepaid if such prepayment is made or required to be made after the first (1st) anniversary of the Closing Date but on or before the second (2nd) anniversary of the Closing Date, or (iii) two
(2%) percent of the principal amount being prepaid if such prepayment is made or required to be made after the second
(2nd) anniversary of the Closing Date but on or
before the third (3rd) anniversary of the Closing
Date; provided that, notwithstanding the foregoing, if Parent’s publicly traded stock price exceeds $4.00 per share for each day during the sixty (60) day period prior to the date of any such prepayment, (x) the prepayment
premium for the period after the first
(1st) anniversary of the Closing Date but on or
before the second (2nd) anniversary of the Closing
Date shall be an amount equal to two (2%) percent of the principal amount being prepaid and (y) the prepayment premium for the period after the second (2nd) anniversary of the Closing Date but on or before the third (3rd) anniversary of the Closing Date shall be an amount equal to
one (1%) percent of the principal amount being prepaid. 
 2.3 Repayment of Term Loan. 

(a) Payments received in respect of the Obligations after 12:00 Noon Eastern Time on any day shall be deemed to be received on the next
succeeding Business Day, and if any payment is received other than by wire transfer of immediately available funds, such payment shall be subject to three (3) Business Days’ clearance prior to being credited to the Obligations for interest
calculation purposes. 
 (b) The Borrowers shall pay principal, interest, and all other amounts payable hereunder and under each
Other Document without any deduction whatsoever, including, but not limited to, any deduction for any setoff or counterclaim. 

  
 28 

 (c) If, notwithstanding the terms of this Agreement or any Other Document, the Lender
receives any payment from or on behalf of any Borrower or any other Loan Party in a currency other than the Currency Due (including, without limitation, payments in respect of any Account in the lawful currency of Canada), the Lender may convert the
payment (including the monetary proceeds of realization upon any Collateral and any funds then held in a cash collateral account) into the Currency Due at exchange rate selected by the Lender in the manner contemplated by Section 16.5 and
Borrowers shall reimburse the Lender on demand for all costs they incur with respect thereto. To the extent permitted by law, the obligation shall be satisfied only to the extent of the amount actually received by the Lender upon such conversion.

 2.4 Statement of Account. 
 The Lender shall maintain, in accordance with its customary procedures, a loan account (the “Borrowers’ Account”) in the name of the Borrowers in which shall be recorded the date and amount
of the Term Loan made by the Lender and the date and amount of each payment in respect thereof; provided, however, that, the failure by the Lender to record the date or amount of payment or any other item shall not adversely
affect the Lender under this Agreement or any Other Document or diminish any obligation of any Loan Party under this Agreement or any Other Document. The records of the Lender with respect to Borrowers’ Account shall be conclusive evidence
absent manifest error of the amounts of the Term Loan and other charges thereto and of payments applicable thereto. 
 2.5
Mandatory Prepayments. 
 Notwithstanding the following and subject to the terms of the Intercreditor Agreement,
(i) during a Waterfall Event, the order of application to the Obligations shall be made pursuant to Section 11.2 rather than as is provided in this Section 2.5 and (ii) the amount of any prepayments required to be made under this
Section 2.5 shall be reduced by the amount of proceeds which are required to be paid under the corresponding mandatory prepayment provisions of the Revolving Loan Agreement and which are in fact paid and applied to permanently reduce the
Maximum Credit under the Revolving Loan Agreement and any commitment thereunder. 
 (a) When any Loan Party or any of their
Subsidiaries Disposes of any Collateral or other assets (other than sales of Inventory in the ordinary course of business) or receives proceeds of property or casualty insurance, within one (1) Business Day thereof, Loan Parties shall prepay
the Term Loan in an amount equal to one hundred (100%) percent of the net cash proceeds of such sale (i.e., gross cash proceeds less the reasonable out-of-pocket costs and expenses in respect of such Dispositions (including any
taxes and similar amounts)) or all of the cash proceeds of such insurance, as applicable, such repayments to be made promptly but in no event more than one (1) Business Day following receipt of such proceeds, and until the date of payment, such
proceeds shall be held in trust for the Lender. Notwithstanding the foregoing, unless and until an Event of Default has occurred and is continuing or would result therefrom, such proceeds from Dispositions and insurance payments that do not exceed
$250,000 in the aggregate in any fiscal year may be retained by Loan Parties solely to acquire replacement assets without making a mandatory prepayment hereunder so long as (1) the fair market value of the acquired assets is equal to or greater
than the fair market value of the assets which were Disposed or subject to the insurance payment, as applicable, (2) the acquired assets are purchased by the applicable Loan Party within one hundred twenty (120) days of the Disposal of the
assets or receipt of the insurance payment, as applicable, (3) the acquired assets are acceptable to the Lender in its Permitted Discretion, (4) if the assets that were Disposed or that were the subject of the insurance payment, as
applicable, were Collateral, the acquired assets must all be Collateral and shall be subject to the Lender’s first priority Lien created hereunder (other than with respect to the Revolving Loan Priority Collateral (subject to the Intercreditor
Agreement) or subject to Permitted Encumbrances), and (5) until such time as the proceeds are used to acquire such replacement assets, at the Lender’s option, either (x) such proceeds shall be held by the Lender as cash collateral for
the Obligations pursuant to terms acceptable to the Lender in its sole discretion or (y) such proceeds shall be applied as a prepayment of the Term Loan. Such cash collateral shall be released by the Lender to be used by the Borrowers solely
for the purposes of funding the acquisition of replacement assets pursuant to the terms of this Section 2.5. If a Loan Party fails to meet the conditions set forth above, Loan Parties hereby authorize the Lender to apply the proceeds held by
the Lender as a prepayment of the Term Loan in the manner set forth above. The provisions of this Section 2.5(a) shall not be deemed to be implied consent to any such Disposition otherwise prohibited by the terms and conditions of this
Agreement or any Other Document. 

  
 29 

 (b) Within one (1) Business Day of the date of receipt by any Loan Party or any of its
Subsidiaries of any Extraordinary Receipts in excess of $50,000 individually or in the aggregate, Borrowers shall prepay the outstanding amount of the Term Loan in an amount equal to one hundred (100%) percent of such Extraordinary Receipts,
net of any reasonable out of pocket fees and expenses incurred in collecting such Extraordinary Receipts. The provisions of this Section 2.5(b) shall not be deemed to be implied consent to any event giving rise to such Extraordinary Receipts
otherwise prohibited by the terms and conditions of this Agreement. 
 (c) Within one (1) Business Day of the date of the
issuance by any Loan Party or any of its Subsidiaries of any shares of its or their Equity Interests (other than (i) the issuance of Equity Interests to another Loan Party or Subsidiary thereof, (ii) the issuance of Equity Interests of
Parent to directors, officers and employees of a Loan Party and any of their respective Subsidiaries pursuant to employee stock option plans (or other employee incentive plans or other compensation arrangements) approved by the board of directors of
Parent and (iii) the issuance of Equity Interests of Parent, to the extent the proceeds thereof are used concurrently with the issuance thereof to fund the purchase price of a Permitted Acquisition) or the receipt by any Loan Party or any of
its Subsidiaries of any capital contribution from any Person (other than (i) from another Loan Party or Subsidiary thereof and (ii) to the extent the proceeds thereof are used concurrently to fund the purchase price of a Permitted
Acquisition), Borrowers shall prepay the outstanding amount of the Term Loan in an amount equal to fifty (50%) percent of the net cash proceeds of such sale or contribution (i.e., gross cash proceeds less the reasonable
out-of-pocket costs and expenses in respect of such issuance or contribution (including any taxes and similar amounts)) received by such Person in connection with such issuance or contribution. The provisions of this Section 2.5(c) shall not be
deemed to be implied consent to any such issuance otherwise prohibited by the terms and conditions of this Agreement. 
 2.6
Use of Proceeds. 
 The Borrowers shall use the proceeds of the Term Loan hereunder only for: (a) payments on the
Closing Date to each of the Persons listed in the disbursement direction letter furnished by the Borrowers to the Lender on or about the Closing Date and (b) costs, expenses and fees incurred on or prior to the Closing Date in connection with
the preparation, negotiation, execution and delivery of this Agreement and the Other Documents. Further, none of the proceeds will be used, directly or indirectly, for the purpose of purchasing or carrying any margin security or for the purposes of
reducing or retiring any Indebtedness which was originally incurred to purchase or carry any margin security or for any other purpose which might cause the Term Loan to be considered a “purpose credit” within the meaning of Regulation U of
the Board of Governors of the Federal Reserve System, as amended. 

  
 30 

 2.7 Further Obligations / Maximum Lawful Rate. 

With respect to all Obligations for which the interest rate is not otherwise specified herein (whether such Obligations arise hereunder,
pursuant to the Term Note or Other Documents, or otherwise), such Obligations shall bear interest at the rate(s) in effect from time to time pursuant to the Term Note. In no event shall the interest charged with respect to the Term Loan or any other
Obligation exceed the maximum amount permitted under the laws of the State of New York or of any other applicable jurisdiction. Notwithstanding anything to the contrary herein or elsewhere, if at any time the rate of interest payable or other
amounts hereunder or under the Term Note or Other Documents (the “Stated Rate”) would exceed the highest rate of interest or other amount permitted under any applicable law to be charged (the “Maximum Lawful Rate”), then for so
long as the Maximum Lawful Rate would be so exceeded, the rate of interest and other amounts payable shall be equal to the Maximum Lawful Rate; provided, that if at any time thereafter the Stated Rate is less than the Maximum Lawful Rate,
Borrowers shall, to the extent permitted by applicable law, continue to pay interest and such other amounts at the Maximum Lawful Rate until such time as the total interest and other such amounts received is equal to the total interest and other
such amounts which would have been received had the Stated Rate been (but for the operation of this provision) the interest rate payable or such other amounts payable. Thereafter, the interest rate and such other amounts payable shall be the Stated
Rate unless and until the Stated Rate again would exceed the Maximum Lawful Rate, in which event this provision shall again apply. In no event shall the total interest or other such amounts received by the Lender exceed the amount which it could
lawfully have received had the interest and other such amounts been calculated for the full term hereof at the Maximum Lawful Rate. If, notwithstanding the prior sentence, the Lender has received interest or other such amounts hereunder in excess of
the Maximum Lawful Rate, such excess amount shall be applied to the reduction of the principal balance of the Term Loan or to other amounts (other than interest) payable hereunder, and if no such principal or other amounts are then outstanding, such
excess or part thereof remaining shall be paid to Borrowers. In computing interest payable with reference to the Maximum Lawful Rate applicable to the Lender, such interest shall be calculated at a daily rate equal to the Maximum Lawful Rate divided
by the number of days in the year in which such calculation is made. 
 2.8 Application of Payments. 

All amounts paid to or received by the Lender in respect of the Term Loan, from whatever source (whether from any Loan Party, any
realization upon any Collateral, or otherwise) shall, unless otherwise directed by the Borrowers with respect to any particular payment (unless an Event of Default shall then be continuing, in which event the Lender may disregard the Borrowers’
direction), be applied by the Lender to the Obligations in such order as the Lender may elect, and absent such election shall be applied as follows: (a) first, to reimburse the Lender for all out-of-pocket costs and expenses incurred by the
Lender which are reimbursable to the Lender in accordance with this Agreement, the Term Note and/or any of the Other Documents, (b) next, to any accrued but unpaid fees or prepayment premiums owing under this Agreement, the Term Note and/or any
Other Document, (c) next, to any unpaid accrued interest on the Obligations, (d) next, to the outstanding principal of the Term Loan, to the extent then due and payable, and (e) finally, to the payment of any other outstanding
Obligations; and after payment in full of the Obligations, any further amounts paid to or received by the Lender in respect of the Term Loan shall be paid over to the Borrowers or such other Person(s) as may be legally entitled thereto. 

  
 31 

 2.9 Reversal of Payments. 

To the extent that any payment or payments made to or received by the Lender pursuant to this Agreement or any Other Document are
subsequently invalidated, declared to be fraudulent or preferential, set aside, or required to be repaid to any trustee, receiver or other Person under any state, federal or other bankruptcy or other such applicable law, then, to the extent thereof,
such amounts (and all Liens, rights and remedies therefore) shall be revived as Obligations and continue in full force and effect under this Agreement and under the Other Documents as if such payment or payments had not been received by the Lender.
This Section 2.9 shall remain operative and in full force and effect regardless of the expiration or any termination of this Agreement. 
 2.10 Joint and Several Liability. 
 (a) All Borrowers shall be liable, on a
joint and several basis, for all Obligations, including, without limitation, all amounts due to the Lender under this Agreement and the Other Documents, regardless of which Borrower actually receives the Term Loan or other proceeds of the
Obligations or the manner in which the Lender accounts for the Term Loan or other Obligations on its books and records or for any other reason. The Obligations with respect to the Term Loan made to a Borrower, and the Obligations arising as a result
of the joint and several liability of a Borrower hereunder, with respect to the Term Loan made to the other Borrowers hereunder, shall be separate and distinct obligations, but all such Obligations shall be primary obligations of all Borrowers. The
Obligations arising as a result of the joint and several liability of a Borrower hereunder with respect to the Term Loan or other Obligations shall, to the fullest extent permitted by law, be unconditional irrespective of (i) the validity or
enforceability, avoidance or subordination of the Obligations of the other Borrowers or of any promissory note or other document evidencing all or any part of the Obligations of the other Borrowers, (ii) any incapacity or lack of power,
authority or legal personality of any other Borrower or other Person, (iii) the absence of any attempt to collect the Obligations from the other Borrowers or any other security therefor, or the absence of any other action to enforce or failure
to realize the full value of the same, (iv) any amendment (however fundamental) replacement variation, assignment termination and/or the waiver, consent, extension, forbearance or granting of any indulgence by the Lender with respect to any
provisions of any instrument evidencing the Obligations of the other Borrowers, or any part thereof, or any other agreement now or hereafter executed by the other Borrowers and delivered to the Lender, (v) the failure by the Lender or any other
Person to take any steps to perfect and maintain its Lien in, or to preserve its rights and maintain its security or collateral for the Obligations of the other Borrowers, (vi) the election of the Lender or any other Person in any proceeding
instituted under Title 11 of the United States Code, as amended (“Bankruptcy Code”), of the application of Section 1111(b)(2) of the Bankruptcy Code, (vii) the disallowance of all or any portion of the claim(s) of the Lender or
any other Person for the repayment of the Obligations of the other Borrowers under Section 502 of the Bankruptcy Code, (viii) any insolvency, liquidation, administration or similar procedure or corporate action in respect of any other
Borrower and/or any legal proceedings or procedures by any of the other Borrowers’ creditors or (ix) any other circumstances which might constitute a legal or equitable discharge or defense of the other Borrowers. With respect to the
Obligations arising as a result of the joint and several liability of a Borrower hereunder with respect to the Term Loan or other Obligations, each Borrower waives, until all of the Obligations have been Paid in Full, any right to enforce any right
of subrogation or any remedy which the Lender or any other Person now has or may hereafter have against Borrowers, any endorser or any guarantor of all or any part of the Obligations, and any benefit of, and any right to participate in, any security
or collateral given to the Lenders or any other Person. Upon any Event of Default and for so long as the same is continuing, the Lender may proceed directly and at once, without notice, against any Borrower to collect and recover the full amount, or
any portion of the Obligations, without first proceeding against the other Borrowers or any other Person, or against any security or collateral for the Obligations. Each Borrower consents and agrees that neither the Lender nor any other Person shall
be under any obligation to marshal any assets in favor of Borrowers or any other Person or against or in payment of any or all of the Obligations. 

  
 32 

 (b) Each Borrower expressly waives any and all rights of subrogation, reimbursement,
indemnity, exoneration, contribution of any other claim which such Borrower may now or hereafter have against the other Borrowers or any other Person directly or contingently liable for the Obligations hereunder, or against or with respect to the
other Borrowers’ property (including, without limitation, any property which is Collateral for the Obligations), arising from the existence or performance of this Agreement. 

2.11 Interrelated Businesses. 
 Loan Parties hereby represent and warrant to the Lender that (a) Loan Parties and their respective Subsidiaries make up a related organization of various entities constituting a single economic and
business enterprise so that Loan Parties and their respective Subsidiaries share an identity of interests such that any benefit received by any Loan Party or any Subsidiary of any Loan Party benefits each other Loan Party and each other Subsidiary
of Loan Parties; (b) certain of Loan Parties and their respective Subsidiaries render services to or for the benefit of other Loan Parties and Subsidiaries, as the case may be, purchase or sell and supply goods to or from or for the benefit of
the others, make loans, advances and provide other financial accommodations to or for the benefit of the other Loan Parties and Subsidiaries (including, inter alia, the payment by Loan Parties and Subsidiaries of creditors of the other Loan Parties
and Subsidiaries and guarantees by Loan Parties and Subsidiaries of indebtedness of the other Loan Parties and Subsidiaries and provide administrative, marketing, payroll and management services to or for the benefit of the other Loan Parties and
Subsidiaries), and (c) Loan Parties and their Subsidiaries have centralized accounting and legal service, common officers and directors and are identified to creditors as a single economic and business enterprise. 

2.12 Appointment of Administrative Borrower as Agent for Receipt of Term Loan and Statements and Receipt and Sending of Notices.

 (a) Each Borrower hereby irrevocably appoints and constitutes Administrative Borrower as its agent to request and receive
the Term Loan pursuant to this Agreement and the Other Documents from the Lender in the name or on behalf of such Borrower. The Lender may disburse the Term Loan to such bank account of Administrative Borrower or a Borrower or otherwise make the
Term Loan to a Borrower as Administrative Borrower may designate or direct, without notice to any other Borrower or Loan Party. 

  
 33 

 (b) Each Loan Party hereby irrevocably appoints and constitutes Administrative Borrower as
its agent to receive statements on account and all other notices from the Lender with respect to the Obligations or otherwise under or in connection with this Agreement and the Other Documents. 

(c) Any notice, election, representation, warranty, agreement or undertaking by or on behalf of any Loan Party by Administrative Borrower
shall be deemed for all purposes to have been made by such Loan Party and shall be binding upon and enforceable against such Loan Party to the same extent as if made directly by such Loan Party. 

(d) Administrative Borrower hereby accepts the appointment by each Loan Party to act as the agent of the Borrowers pursuant to this
Section 2.12. 
 (e) No purported termination of the appointment of Administrative Borrower as agent as aforesaid shall be
effective, except after ten (10) days’ prior written notice to the. 
 2.13 Increased Costs. 

In the event that any applicable law, treaty or governmental regulation, or any change therein or in the interpretation or application
thereof is effected after the Closing Date (provided, however, that, notwithstanding anything herein to the contrary, this Section 2.13 shall be deemed to apply to the Dodd-Frank Wall Street Reform and Consumer Protection Act and
to The Basel III Accord published by The Basel Committee on Banking Supervision, and to all requests, rules, regulations, guidelines or directives under either of the foregoing or issued in connection therewith, regardless of the date enacted,
adopted or issued, even if enacted, adopted or issued before the Closing Date), or compliance by the Lender (for purposes of this Section 2.13, the term “Lender” shall include the Lender and any corporation or bank controlling the
Lender or any Subsidiary of the Lender) with any request or directive (whether or not having the force of law) from any central bank or other financial, monetary or other authority, in each case adopted after the Closing Date, shall: 

(a) subject the Lender to any tax (other than any Excluded Tax) of any kind whatsoever, as a result of a Change in Tax Law, with respect
to this Agreement or any Other Document or change the basis of taxation of payments to the Lender of principal, fees, interest or any other amount payable in respect thereof (except for changes in any Excluded Tax); 

(b) impose, modify or hold applicable any reserve, special deposit, assessment or similar requirement against assets held by, or deposits
in or for the account of, advances or loans by, or other credit extended by, any office of the Lender, including (without limitation) pursuant to Regulation D of the Board of Governors of the Federal Reserve System; or 

(c) impose on the Lender any other condition with respect to this Agreement or any Other Document; 

  
 34 

 and the result of any of the foregoing is to increase the cost to the Lender of making, renewing or
maintaining the Term Loan hereunder or to reduce the amount of any payment (whether of principal, interest or otherwise) in respect of any of the Term Loan or the Lender’s overall capital, then, in any case the Borrowers shall promptly pay the
Lender, upon its demand, such additional amount as will compensate the Lender for such additional cost or such reduction, as the case may be. The Lender shall certify the amount of such additional cost or reduced amount to Administrative Borrower,
and such certification shall be conclusive absent manifest error. Notwithstanding anything to the contrary in this Section 2.13, Loan Parties shall not be required to compensate the Lender pursuant to this Section 2.13 for any amounts
incurred more than one hundred eighty (180) days prior to the date that the Lender notifies Administrative Borrower of its intention to claim compensation therefor; provided, that, if the circumstances giving rise to such claim have a
retroactive effect, then such one hundred eighty (180) day period shall be extended to include the period of such retroactive effect. 
 If
the Lender requests compensation under this Section 2.13, then the Lender shall use reasonable efforts to designate a different lending office for funding or booking the Term Loan or to assign its rights and obligations hereunder to another of
its offices, branches or affiliates if, in the judgment of the Lender, such designation or assignment (i) would eliminate or reduce amounts payable pursuant to this Section 2.13 in the future, and (ii) in each case, would not subject
the Lender to any unreimbursed cost or expense and would not otherwise be disadvantageous to the Lender. Borrowers hereby agree to pay all reasonable costs and expenses incurred by the Lender in connection with any such designation or assignment.

 2.14 Capital Adequacy. 
 (a) In the event that the Lender (for purposes of this Section 2.14, the term “Lender” shall include the Lender and any corporation or bank controlling the Lender) shall have determined
that any applicable law, rule, regulation or guideline regarding capital adequacy in effect on the Closing Date, or any change therein effected after the Closing Date, or any change in the interpretation or administration thereof by any Governmental
Body, central bank or other financial, monetary or other authority, in each case adopted after the Closing Date, charged with the interpretation or administration thereof, or compliance by the Lender with any request or directive regarding capital
adequacy (whether or not having the force of law) of any such authority, central bank or comparable agency, has or would have the effect of reducing the rate of return on the Lender’s capital as a consequence of its obligations hereunder to a
level below that which the Lender could have achieved but for such adoption, change or compliance (taking into consideration each Lender’s policies with respect to capital adequacy), then, from time to time, the Borrowers shall pay upon demand
to the Lender such additional amount or amounts as will compensate the Lender for such reduction; provided, however, that, notwithstanding anything herein to the contrary, this Section 2.14 shall be deemed to apply to the
Dodd-Frank Wall Street Reform and Consumer Protection Act and to The Basel III Accord published by The Basel Committee on Banking Supervision, and to all requests, rules, regulations, guidelines or directives under either of the foregoing or issued
in connection therewith, regardless of the date enacted, adopted or issued, even if enacted, adopted or issued before the Closing Date. In determining such amount or amounts, the Lender may use any reasonable averaging or attribution methods. The
Lender shall certify the amount of such reduction and provide a reasonably detailed calculation thereof to Administrative Borrower. Notwithstanding anything to the contrary in this Section 2.14, Loan Parties shall not be required to compensate
the Lender pursuant to this Section 2.14 for any amounts incurred more than one hundred eighty (180) days prior to the date that the Lender notifies Administrative Borrower of the Lender’s intention to claim compensation therefor;
provided, that, if the circumstances giving rise to such claim have a retroactive effect, then such one hundred eighty (180) day period shall be extended to include the period of such retroactive effect. The protection of this
Section 2.14 shall be available to the Lender regardless of any possible contention of invalidity or inapplicability with respect to the applicable law, regulation or condition. 

  
 35 

 (b) A certificate of the Lender setting forth such amount or amounts as shall be necessary
to compensate the Lender with respect to Section 2.14(a) when delivered to Administrative Borrower shall be conclusive absent manifest error. 
 2.15 Withholding Taxes. 
 Except as otherwise required by law and subject
to Section 16.3, each payment by the Borrowers or the Guarantors under this Agreement or the Other Documents shall be made without withholding or deduction for or on account of any present or future Taxes or Charges (other than Excluded Taxes).
If any such withholding or deduction for Taxes or Charges is so required, the Borrowers or Guarantors, as applicable, shall promptly upon becoming aware that such withholding or deduction is necessary, notify the Lender and shall make the
withholding or deduction, pay the amount withheld to the appropriate Governmental Body before penalties attach thereto or interest accrues thereon and except with respect to Excluded Taxes forthwith pay such additional amount as may be necessary to
ensure that the net amount actually received by the Lender free and clear of such taxes (including such taxes on such additional amount) is equal to the amount which that the Lender (as the case may be) would have received had such withholding or
deduction not been made. Within thirty (30) days of paying any amount withheld or deducted on account of tax, Administrative Borrower shall, or shall procure that the other relevant Borrower shall, deliver to the Lender evidence (reasonably
satisfactory to the Lender) that the appropriate payment has been paid to the relevant tax authority. If the Lender pays any amount in respect of any such Taxes (other than Excluded Taxes), the Borrowers and Guarantors shall reimburse the Lender for
that payment on demand in the currency in which such payment was made. If the Borrowers or Guarantors pay any such Taxes, it shall deliver official tax receipts evidencing that payment or certified copies thereof to the Lender on whose account such
withholding was made on or before the thirtieth (30th) day after payment. 
 3. RESERVED. 

4. GRANT OF SECURITY INTEREST; COLLATERAL COVENANTS. 
 4.1 Security Interest in the Collateral. 
 To secure the prompt payment and
performance of all of the Obligations to the Lender, each Loan Party hereby collaterally assigns, pledges and grants to the Lender a continuing Lien in and to all of its Collateral, whether now owned or existing or hereafter acquired or arising and
wheresoever located. Each Loan Party shall mark its books and records as may be necessary or appropriate to evidence, protect and perfect the Lender’s Lien and shall cause its financial statements, where applicable, to reflect such Lien.

  
 36 

 4.2 Perfection of Security Interest. 

(a) Each Loan Party shall take all action that may be necessary or desirable, or that the Lender may request in its Permitted Discretion,
so as at all times to maintain the validity, perfection, enforceability and priority of the Lender’s Lien in the Collateral to the extent required by this Agreement or any Other Documents. 

(b) The Lender may, and each Loan Party hereby authorizes the Lender to, at any time and from time to time file in accordance with
Section 9-509 of the UCC and with the PPSA, financing statements and amendments thereto that describe the Collateral as “all assets” or similar language of the applicable Loan Party and which contain any other information required by
the UCC or the PPSA, as applicable, for the sufficiency or filing office acceptance of any financing statements, continuation statements or amendments. Each Loan Party agrees to furnish any such information to the Lender promptly upon request.

 (c) Each Loan Party shall, at any time and from time to time, take such commercially reasonable steps as the Lender may
request in its Permitted Discretion to (i) obtain an acknowledgment, in form and substance reasonably satisfactory to the Lender, of any bailee having possession of any of the Collateral, stating that the bailee holds such Collateral for the
Lender, (ii) obtain “control” of any letter-of-credit rights, deposit accounts (other than Restricted Accounts) or electronic chattel paper (as such terms are defined in the UCC with corresponding provisions thereof defining what
constitutes “control” for such items of Collateral), and any investment property, securities entitlements, securities accounts, futures contracts, future accounts (as such terms are defined in the PPSA or the Securities Transfer Act
(British Columbia), as applicable, with corresponding provisions thereof defining what constitutes “control” for such items of Collateral), in each case, with any agreements establishing control to be in form and substance reasonably
satisfactory to the Lender, and (iii) otherwise insure the continued perfection and priority of the Lender’s Liens in any of the Collateral for the benefit of the Lenders and of its rights therein. If any Loan Party shall at any time,
acquire a “commercial tort claim” (as such term is defined in the UCC) in excess of $250,000, such Loan Party shall promptly notify the Lender thereof in writing (which notice shall be deemed to be an update of
Schedule 5.8(b)), therein providing a reasonable description and summary thereof, and upon delivery thereof to the Lender, such Loan Party shall be deemed to thereby have granted to the Lender (and each Loan Party hereby grants to the
Lender) a Lien in and to each such commercial tort claim and all proceeds thereof, all upon the terms of and governed by this Agreement to secure the prompt payment and performance of all of the Obligations. 

(d) Each Loan Party hereby confirms and ratifies all UCC and PPSA financing statements filed by the Lender with respect to such Loan
Party on or prior to the date of the Agreement. 
 (e) All charges, expenses and fees the Lender may incur in doing any of the
foregoing, and any taxes relating thereto, shall be charged to the Borrowers’ Account and added to the Obligations, or, at the Lender’s option, shall be paid by Loan Parties to the Lender promptly upon demand. 

  
 37 

 4.3 Preservation of Collateral. 

Following the occurrence and during the continuance of an Event of Default, in addition to the rights and remedies set forth in
Section 11.1 but subject to the terms of the Intercreditor Agreement, the Lender: (a) may at any time take such steps as the Lender deems necessary or appropriate to protect the Lender’s Lien in and to preserve the Collateral,
including, without limitation, the hiring of such security guards or the placing of other security protection measures as the Lender may deem appropriate; (b) may employ and maintain at any Loan Party’s premises a custodian who shall have
full authority to do all acts necessary to protect the Lender’s interests in the Collateral; (c) may lease warehouse facilities to which the Lender may move all or part of the Collateral; (d) may use any Loan Party’s owned or
leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and
through any Loan Party’s owned or leased property; and (f) shall have a non-exclusive, royalty-free, license to use each Loan Party’s Intellectual Property for the purposes of the completion, processing and sale of such Loan
Party’s Inventory and other assets. At such time, each Loan Party shall cooperate fully with all of the Lender’s commercially reasonable efforts to preserve the Collateral and will take such actions to preserve the Collateral as the Lender
may direct in connection therewith. All of the Lender’s expenses of preserving the Collateral, including, without limitation, any expenses relating to any actions by the Lender described in this Section 4.3, may, at the election of the
Lender, be charged to the Borrowers’ Account and added to the Obligations. 
 4.4 Ownership and Location of Collateral.

 (a) At the time the Collateral becomes subject to the Lender’s Lien, each Loan Party shall be the sole owner of and
fully authorized and able to sell, transfer, pledge and/or grant a first priority Lien (other than with respect to the Revolving Loan Priority Collateral (subject to the Intercreditor Agreement) and, except for Permitted Encumbrances, the Collateral
shall be free and clear of all Liens and encumbrances whatsoever. 
 (b) Each Loan Party’s books and records, Equipment,
Inventory and all other assets (other than (i) motor vehicles and (ii) Equipment out for repair in the ordinary course of business) shall be located at one of the locations set forth on Schedule 4.4 (as such Schedule may from
time to time be updated in accordance with Section 7.18) and shall not be removed from such location(s) without the prior written consent of the Lender. 

  
 38 

 4.5 Defense of Lender’s Interests. 

Until all of the Obligations have been Paid in Full, the Lender’s Liens in the Collateral shall continue in full force and effect.
For so long as the Lender’s Liens in the Collateral continue in full force and effect, no Loan Party shall, without the Lender’s prior written consent, pledge, assign, transfer, create, charge or suffer to exist a Lien upon any part of the
Collateral, except for Permitted Encumbrances. Each Loan Party shall defend the Lender’s Liens in the Collateral against any and all Persons whatsoever (other than holders of Permitted Encumbrances in such Collateral). At any time following
demand by the Lender for payment of all Obligations in accordance with Section 11.1, in addition to and not in limitation of the Lender’s rights and remedies set forth in Section 11.1, but subject to the terms of the Intercreditor
Agreement: (a) the Lender shall have the right to take possession of the indicia of the Collateral and the Collateral, (b) Loan Parties shall, upon the Lender’s demand, assemble the Collateral in the best manner possible and make it
available to the Lender at a place reasonably convenient to the Lender, and (c) upon demand by the Lender each Loan Party shall, and the Lender may, at its option, instruct all suppliers, carriers, forwarders, warehouses or others receiving or
holding cash, checks, Inventory, documents or instruments of such Loan Party to deliver same to the Lender (or any Person designated by the Lender) and/or subject to the Lender’s order and if they shall come into any Loan Party’s
possession, all such Collateral shall be held by such Loan Party in trust as the Lender’s trustee, and such Loan Party will immediately deliver such Collateral to the Lender (or any Person designated by the Lender) in their original form,
together with any necessary endorsement. 
 4.6 Books and Records. 

Each Loan Party shall, and shall cause each of its Subsidiaries to, (a) keep proper books of record and account in which full, true
and correct entries will be made of all dealings or transactions of or in relation to its business and affairs; (b) set up on its books accruals with respect to all taxes, assessments, charges, levies and claims; and (c) on a reasonably
current basis set up on its books, from its earnings, allowances against doubtful Receivables, advances and investments and all other proper accruals (including without limitation by reason of enumeration, accruals for premiums, if any, due on
required payments and accruals for depreciation, obsolescence, or amortization of properties), which should be set aside from such earnings in connection with its business. All determinations pursuant to this subsection shall be made in accordance
with, or as required by, GAAP consistently applied. 
 4.7 Financial Disclosure. 

Each Loan Party hereby irrevocably authorizes and directs all Accountants and auditors employed by such Loan Party at any time during the
Term to exhibit and deliver to the Lender copies of any of such Loan Party’s and each of its Subsidiaries’ financial statements, trial balances or other accounting records of any sort in the Accountant’s or auditor’s possession,
and to disclose to the Lender any information such Accountants may have concerning such Loan Party’s and each of its Subsidiaries’ financial status and business operations. Each Loan Party hereby authorizes all federal, state, provincial
and municipal authorities to furnish to the Lender copies of reports or examinations relating to such Loan Party or to any of its Subsidiaries, whether made by such Loan Party or otherwise. Notwithstanding the foregoing authorization, so long as no
Default or Event of Default is in existence, the Lender will attempt to obtain such information or materials directly from such Loan Party prior to obtaining such information or materials from such Accountants, auditors or such authorities.

  
 39 

 4.8 Compliance with Laws. 

Each Loan Party shall, and shall cause each of its Subsidiaries to, comply in all respects with all acts, rules, regulations and orders
of any Governmental Body applicable to its respective Collateral or any part thereof or to the operation of such Person’s business the non-compliance with which could reasonably be expected to have, either individually or in the aggregate, a
Material Adverse Effect. Each Loan Party may, however, contest or dispute any acts, rules, regulations, orders and directions of those bodies or officials in any reasonable manner; provided, that, if as a result of such contest or
dispute commenced at the option of any Loan Party, any related Lien is inchoate or stayed, at the Lender’s option, sufficient reserves shall be established to the satisfaction of the Lender to protect the Lender’s Lien in the Collateral.
The Collateral at all times shall be maintained in accordance in all material respects with the requirements of all insurance carriers which provide insurance with respect to the Collateral so that such insurance shall remain in full force and
effect. 
 4.9 Inspection of Premises/Appraisals. 

At any time during the existence of an Event of Default, and otherwise at all reasonable times during normal business hours, the Lender
shall have the right, at Borrowers’ expense (subject to Section 16.10(c)), (a) to audit, check, inspect and make abstracts and copies from each Loan Party’s books, records, audits, correspondence and all other papers relating to
the Collateral and the operation of each Loan Party’s business and (b) to enter, or to have their agents enter, upon any Loan Party’s premises at any time during business hours and at any other reasonable time, and from time to time,
for the purpose of inspecting the Collateral (and/or with respect to the Lender (and Persons designated by the Lender) appraising the Collateral) and any and all records pertaining thereto and the operation of such Loan Party’s business. From
time to time as determined by the Lender, the Lender shall have the right to conduct appraisals (or have other Persons selected by the Lender conduct appraisals) of the Inventory, Equipment, Real Property and other Collateral, in each case, at all
times subject to Section 16.10(c). 
 4.10 Insurance. 

Each Loan Party shall bear the full risk of any loss of any nature whatsoever with respect to the Collateral. At each Loan Party’s
own cost and expense, each Loan Party shall, and shall cause each of its Subsidiaries to, maintain insurance in amounts, types and with carriers in each case acceptable to the Lender. Without limiting the foregoing, each Loan Party shall, and shall
cause each of its Subsidiaries to, (a) keep all its insurable properties insured against the hazards of fire, flood, those hazards covered by extended coverage insurance and such other hazards, and for such amounts, not less than as is
customary in the case of companies engaged in businesses similar to such Loan Party’s business, including, without limitation, business interruption insurance; (b) maintain liability insurance against claims for personal injury, death or
property damage suffered by others; and (c) maintain all such worker’s compensation or similar insurance as may be required under the laws of any state, province or jurisdiction in which Loan Party is engaged in business. Each Loan Party
shall (i) furnish the Lender with copies of all policies and evidence of the maintenance of such policies required hereby upon the request of the Lender and (ii) cause all such policies to include appropriate loss payable endorsements,
and/or additional insured endorsements, in form and substance reasonably satisfactory to the Lender, providing with respect to loss payable endorsements that (A) all proceeds thereunder shall be payable to the Lender, (B) no such insurance
shall be affected by any act or neglect of the insured or owner of the property described in such policy, and (C) that such policy and loss payable clauses may not be cancelled, amended or terminated unless at least thirty (30) days’
prior written notice is given to the Lender (or such shorter period as the Lender may agree). If any insurance losses are paid by check, draft or other instrument payable to any Loan Party and the Lender jointly, the Lender may endorse such Loan
Party’s name thereon and do such other things as the Lender may deem advisable to reduce the same to cash and apply the same in accordance with this Agreement. 

  
 40 

 4.11 Failure to Pay Insurance. 

If any Loan Party fails to obtain insurance as hereinabove provided, or to keep the same in force, the Lender, at its option, may obtain
such insurance and pay the premium therefor for the Borrowers’ Account, and charge the Borrowers’ Account therefor and such expenses so paid shall be part of the Obligations. 

4.12 Payment of Taxes. 
 Each Loan Party shall, and shall cause each of its Subsidiaries to, pay, when due, all federal, state, provincial and other material Taxes and other Charges lawfully levied or assessed upon such Person or
any of the Collateral, except for those Taxes and Charges that are being contested in good faith by appropriate proceedings diligently pursued and available to such Loan Party, which proceedings (or orders entered in connection with such
proceedings) stay the forfeiture or sale of, or other enforcement against, the property subject to any such taxes, assessments, fees and other governmental charges and with respect to which adequate reserves have been set aside on the books of such
Loan Party in accordance with GAAP consistently applied. If any Tax or other Charges remain unpaid after the date fixed for their payment, or if any claim shall be made which, in the Lender’s opinion, may possibly create a valid Lien on the
Collateral (which is not otherwise a Permitted Encumbrance), the Lender may without notice to Loan Parties pay such Taxes or other Charges and each Loan Party hereby indemnifies and holds the Lender harmless in respect thereof. The amount of any
payment by the Lender under this Section 4.12 may, at the election of the Lender, be charged to the Borrowers’ Account and added to the Obligations and, until Loan Parties shall furnish the Lender with an indemnity therefor (or supply the
Lender with evidence satisfactory to the Lender that due provision for the payment thereof has been made), the Lender may hold without interest any balance standing to Loan Parties’ credit and the Lender shall retain its Lien in any and all
Collateral held by the Lender. 
 4.13 Payment of Leasehold Obligations. 

Each Loan Party shall, and shall cause each of its Subsidiaries to, at all times pay, when and as due, its rental obligations under all
leases under which it is a tenant, and shall otherwise comply, in all material respects, with all other terms of such leases and keep them in full force and effect and, at the Lender’s request will provide evidence of having done so, except, in
each case, where the failure to do so could not reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect. 
 4.14 Accounts and other Receivables. 
 (a) Reserved. 

  
 41 

 (b) Reserved. 
 (c) Locations of Chief Executive Office. Each Loan Party’s chief executive office is located at the addresses set forth on Schedule 4.14(c)) (as such schedule may from time to time
be updated in accordance with Section 7.18). Until written notice is given to the Lender by Administrative Borrower of any other office at which any Loan Party keeps its records pertaining to Accounts and the other Receivables, all such records
shall be kept at such executive office or otherwise as set forth on Schedule 4.14(c). 
 (d) Collection of
Accounts and other Receivables. Until any Loan Party’s authority to do so is terminated by the Lender (which notice of termination the Lender may give at any time following the occurrence and during the continuance of an Event of Default),
each Loan Party will, at such Loan Party’s sole cost and expense, collect all amounts received on Accounts and other Receivables. From and after the occurrence and during the continuance of an Event of Default, upon the Lender’s demand,
each Loan Party shall deliver to the Lender, in original form and on the date of receipt thereof, all checks, drafts, notes, money orders, acceptances, cash and other evidences of Indebtedness at any time received by Loan Parties. 

(e) Notification of Assignment of Accounts and other Receivables; Verification. Subject to the terms of the Intercreditor
Agreement and so long as an Event of Default exists, the Lender shall have the right (i) to send notice of the assignment of, and the Lender’s Lien in, the Accounts and other Receivables of each Loan Party to any and all Customers, any
other Person obligated on such Accounts and other Receivables or any third party holding or otherwise concerned with any of the Collateral (which notice may include a direction by the Lender to make all payments thereon to an account designated by
the Lender) and (ii) at any time, in the name of the Lender, any designee of the Lender or any Borrower or any other Loan Party, to verify the validity, amount or any other matter relating to any Accounts and other Receivables of any Loan Party
by mail, telephone or otherwise. Each Loan Party shall cooperate fully with the Lender in an effort to facilitate and promptly conclude any such verification process. Following the occurrence and during the continuance of any Event of Default, at
its option and subject to the terms of Intercreditor Agreement, the Lender shall have the exclusive right to collect the Accounts and other Receivables of each Loan Party, take possession of the Collateral, or both. In such case, the Lender’s
actual collection expenses, including, but not limited to, stationery and postage, telephone and facsimile, secretarial and clerical expenses and the salaries of any collection personnel used for collection, may be charged to the Borrowers’
Account and added to the Obligations. 

  
 42 

 (f) Power of the Lender to Act on Loan Parties’ Behalf. The Lender shall have
the right to receive, endorse, assign and/or deliver in the name of the Lender or any Loan Party any and all checks, drafts and other instruments for the payment of money relating to the Accounts and other Receivables of each Loan Party, and each
Loan Party hereby waives notice of presentment, protest and non-payment of any instrument so endorsed. Each Loan Party hereby constitutes the Lender or the Lender’s designee as such Loan Party’s attorney with power, subject to the terms of
the Intercreditor Agreement, (i) to endorse such Loan Party’s name upon any notes, acceptances, checks, drafts, money orders or other evidences of payment or Collateral; (ii) upon the occurrence and during the continuance of an Event
of Default, to sign such Loan Party’s name on any invoice or bill of lading relating to any of the Accounts and other Receivables of each such Loan Party, drafts against Customers, assignments and verifications of Accounts and other Receivables
of each such Loan Party; (iii) at any time, to send verifications of Accounts and other Receivables of each such Loan Party to any Customer or Person; (iv) at any time, to sign such Loan Party’s name on all financing statements or any
other documents or instruments deemed necessary or appropriate by the Lender to preserve, protect, or perfect the Lender’s interest in the Collateral and to file same; (v) after the occurrence and during the continuance of an Event of
Default, to demand payment of the Accounts and other Receivables of each such Loan Party; (vi) after the occurrence and during the continuance of an Event of Default, to enforce payment of the Accounts and other Receivables of each such Loan
Party by legal proceedings or otherwise; (vii) after the occurrence and during the continuance of an Event of Default, to exercise all of Loan Parties’ rights and remedies with respect to the collection of the Accounts, Receivables and any
other Collateral; (viii) after the occurrence and during the continuance of an Event of Default, to settle, adjust, compromise, extend or renew the Accounts and other Receivables of each such Loan Party; (ix) after the occurrence and
during the continuance of an Event of Default, to settle, adjust or compromise any legal proceedings brought to collect Accounts and other Receivables of each such Loan Party; (x) after the occurrence and during the continuance of an Event of
Default, to prepare, file and sign such Loan Party’s name on a proof of claim in bankruptcy or similar document against any Customer or any other Person obligated with respect to an Account or other Receivable of each such Loan Party;
(xi) to prepare, file and sign such Loan Party’s name on any notice of Lien, assignment or satisfaction of Lien or similar document in connection with the Accounts and other Receivables of each such Loan Party; and (xii) after the
occurrence and during the continuance of an Event of Default, to do all other acts and things necessary to carry out this Agreement. All acts of said attorney or designee are hereby ratified and approved, and said attorney or designee shall not be
liable for any acts of omission or commission nor for any error of judgment or mistake of fact or of law, unless done maliciously or with gross (not mere) negligence, as determined pursuant to a final, non-appealable order of a court of competent
jurisdiction; this power being coupled with an interest is irrevocable at all times until all of the Obligations have been Paid in Full. Subject to the terms of the Intercreditor Agreement, the Lender shall have the right at any time following the
occurrence and during the continuance of an Event of Default, to change the address for delivery of mail addressed to any Loan Party to such address as the Lender may designate and to receive, open and dispose of all mail addressed to any Loan
Party. 
 (g) No Liability. The Lender shall not, under any circumstances or in any event whatsoever (other than damages
caused by the Lender’s gross (not mere) negligence or willful misconduct, as determined pursuant to a final, non-appealable order of a court of competent jurisdiction), have any liability for any error or omission or delay of any kind occurring
in the settlement, collection or payment of any of the Accounts, other Receivables or any instrument received in payment thereof, or for any damage resulting therefrom. Following the occurrence and at any time during the continuance of an Event of
Default and subject to the terms of the Intercreditor Agreement, the Lender may, without notice or consent from any Loan Party, sue upon or otherwise collect, extend the time of payment of, compromise or settle for cash, credit or upon any terms any
of the Accounts, other Receivables or any other securities, instruments or insurance applicable thereto and/or release any obligor thereof. The Lender is authorized and empowered to accept following the occurrence and during the continuance of an
Event of Default the return of the goods represented by any of the Accounts and other Receivables, without notice to or consent by any Loan Party, all without discharging or in any way affecting any Loan Party’s liability hereunder. 

  
 43 

 (h) Establishment of a Lockbox Account, Dominion Account; Cash Dominion. As of the
Closing Date and at all times thereafter, each Loan Party shall establish and maintain a lockbox account, dominion account or such other “blocked account” (together with the Cash Receipt Accounts and the Operating Accounts, collectively,
the “Blocked Accounts”) with TD Bank, N.A. or, with the Lender’s prior written consent, such banks as may be selected by each such Loan Party and reasonably acceptable to the Lender (it being understood and agreed that, as of the
Closing Date, the Existing Deposit Banks are reasonably acceptable to the Lender despite the fact that the deposit accounts maintained at such Existing Deposit Banks (the “Existing Deposit Accounts”) are not lockbox accounts, dominion
accounts or “blocked accounts”). As of the Closing Date and at all times thereafter, all proceeds of Collateral and all other cash and Cash Equivalents of each such Loan Party (other than amounts properly on deposit in Restricted Accounts)
shall at all times be deposited by each Loan Party in the Blocked Accounts, and Loan Parties shall (as agent and trustee for the Lender) cause each of their Customers and all other applicable Persons to at all times send payments on all Accounts and
other Receivables of Loan Parties into the Blocked Accounts (it being understood and agreed that, notwithstanding the foregoing, on or before the date that is ninety (90) days after the date hereof (or such later date as the Lender shall agree
in writing), all Customers of Borrowers shall be remitting all payments to the Existing Deposit Accounts maintained with Wells Fargo Bank, N.A. or Bank of America, N.A. or to a Blocked Account). If, for any reason any Customer makes payments on any
Account or other Receivable directly to any Loan Party, such Loan Party shall collect (as agent and trustee for the Lender) all such amounts and immediately pay all such amounts into a Blocked Account (it being understood and agreed that,
notwithstanding the foregoing, on or before the date that is ninety (90) days after the date hereof (or such later date as the Lender shall agree in writing), all amounts shall be remitted to Existing Deposit Accounts maintained with Wells
Fargo Bank, N.A. or Bank of America, N.A., or to a Blocked Account); provided, however, that, until such payment into a Blocked Account or an Existing Deposit Account maintained with Wells Fargo Bank, N.A. or Bank of America,
N.A., all moneys so received will be held upon trust for and promptly remitted to the Lender. Each Loan Party shall instruct all of its Customers to make all payments into a Blocked Account (it being understood and agreed that, notwithstanding the
foregoing, on or before the date that is ninety (90) days after the date hereof (or such later date as the Lender shall agree in writing), all Customers of Borrowers shall be remitting all payments to the Existing Deposit Accounts maintained
with Wells Fargo Bank, N.A. or Bank of America, N.A. or to a Blocked Account). All of the Blocked Accounts (but not the Restricted Accounts) shall be governed by “control” or other agreements in form and substance acceptable to the Lender
satisfactory to, among other things, establish the Lender’s perfection and rights in such Blocked Accounts or other accounts under the UCC, PPSA and other applicable law. All invoices for sales of Inventory or services by Loan Parties shall
contain the address of the Blocked Accounts constituting Cash Receipt Accounts as the address for remittance of payment (it being understood and agreed that, notwithstanding the foregoing, on or before the date that is ninety (90) days after
the date hereof (or such later date as the Lender shall agree in writing), all such invoices may contain the address of the Existing Deposit Accounts maintained with Wells Fargo Bank, N.A. or Bank of America, N.A.). The “control”
agreements covering the Blocked Accounts constituting Operating Accounts (other than Restricted Accounts) shall provide that (i) after delivery of a Control Notice (which may be delivered by the Lender upon the occurrence and during the
continuance of an Event of Default), (A) such bank or other institution shall comply with the instructions given by the Lender with respect to such Blocked Accounts and funds therein without further consent by Loan Parties and (B) all
amounts in such Blocked Accounts shall be transferred on a daily basis by such bank or other institution to the such account as may be designated by the Lender, and (ii) such bank or other institution shall waive any offset rights against the
funds so deposited into such Blocked Accounts, subject to exceptions to such waiver of offset rights as shall be reasonably acceptable to the Lender. The “control” agreements covering the Blocked Accounts constituting Cash Receipt Accounts
shall provide that all amounts in such Cash Receipt Accounts shall be transferred on a daily basis by such bank or other institution to an Operating Account subject to a “control” agreement. The Lender assumes no responsibility for any
Blocked Account arrangement, including without limitation, any claim of accord and satisfaction or release with respect to deposits accepted by any bank thereunder. Alternatively, upon the occurrence and during the continuance of an Event of
Default, the Lender may establish depository accounts (collectively, the “Depository Accounts”) in the name of the Lender at a bank or banks for the deposit of such funds and Loan Parties shall deposit all proceeds of Collateral or cause
same to be deposited, in kind, in such Depository Accounts of the Lender in lieu of depositing same to the Blocked Accounts. Notwithstanding the foregoing, no “control” agreement shall be required for (1) Restricted Accounts and
(2) any deposit accounts maintained at the Existing Deposit Banks so long as (w) the existing cash management arrangements at the Existing Deposit Banks are terminated within ninety (90) days after the Closing Date (subject to
Section 6.8), (x) with respect to all deposit accounts maintained at Wells Fargo Bank, N.A. (other that the deposit account set forth in clause (y) below), Loan Parties shall, on each Business Day, remit all amounts in such deposit
accounts directly to the Payment Account (as defined in the Revolving Loan Agreement), (y) with respect to deposit account no. 2000026543086 maintained at Wells Fargo Bank, N.A., Loan Parties shall, on each Business Day, remit all amounts in
excess of $500,000 in such deposit account directly to the Payment Account, and (z) with respect to all lockbox and collection accounts maintained at Bank of America, N.A., the Loan Parties shall, on each Business Day, remit all amounts in
excess of C$400,000 in such accounts directly to the Payment Account. 

  
 44 

 (i) Adjustments. No Loan Party will, without the Lender’s consent, compromise or
adjust any Accounts or other Receivables (or extend the time for payment thereof) of any such Loan Party or accept any returns of merchandise or grant any additional discounts, allowances or credits thereon except for those compromises, adjustments,
returns, discounts, credits and allowances in the ordinary course of business of such Loan Party, as previously disclosed to the Lender. 
 4.15 Inventory. 
 All Inventory manufactured in the United States of
America and held for sale or lease by any Loan Party, has been and will be produced by such Loan Party in accordance with the Federal Fair Labor Standards Act of 1938, as amended, and all rules, regulations and orders thereunder. 

4.16 Maintenance of Equipment. 
 All Equipment used or useful in the conduct of any Loan Party’s business shall be maintained in good operating condition and repair (reasonable wear and tear excepted) and all necessary replacements
of and repairs thereto shall be made so that the value and operating efficiency of such Equipment shall be maintained and preserved (reasonable wear and tear excepted). Each Loan Party shall use or operate any Equipment in compliance with
Section 4.8. No Loan Party shall sell or otherwise Dispose of any of its Equipment, except to the extent set forth in Section 7.1. 
 4.17 Exculpation of Liability. 
 Nothing herein contained shall be
construed to constitute the Lender as any Loan Party’s agent for any purpose whatsoever, nor shall the Lender be responsible or liable for any shortage, discrepancy, damage, loss or destruction of any part of the Collateral wherever the same
may be located and regardless of the cause thereof (other than caused by the Lender’s gross (not mere) negligence or willful misconduct, as determined pursuant to a final, non-appealable order of a court of competent jurisdiction). The Lender,
whether by anything herein or in any assignment or otherwise, does not assume any of Loan Party’s obligations under any contract or agreement to which it is a party, and the Lender shall not be responsible in any way for the performance by any
Loan Party of any of the terms and conditions thereof. 

  
 45 

 4.18 Environmental Matters. 

(a) Loan Parties shall ensure any Real Property remains in compliance with all Environmental Laws and they shall not place or permit to
be placed any Hazardous Substances on any such Real Property, except as not prohibited by applicable law or appropriate Governmental Body and except where any such noncompliance or placement could not reasonably be expected to have, either
individually or in the aggregate, a Material Adverse Effect. 
 (b) Loan Parties shall assure and monitor continued compliance
with all applicable Environmental Laws, except where any failure to comply could reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect. 

(c) Loan Parties shall (i) employ in connection with the use of any Real Property appropriate technology necessary to maintain
compliance with any applicable Environmental Laws, except where any such noncompliance could not reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect and (ii) dispose of any and all Hazardous Waste
generated at such Real Property only at facilities and with carriers that maintain valid permits under RCRA and any other applicable Environmental Laws, except where the failure to do so could not reasonably be expected to have, either individually
or in the aggregate, a Material Adverse Effect. Loan Parties shall use their best efforts to obtain certificates of disposal, such as hazardous waste manifest receipts, from all treatment, transport, storage or disposal facilities or operators
employed by Loan Parties in connection with the transport or disposal of any Hazardous Waste generated at such Real Property, except where the failure to do so could not reasonably be expected to have, either individually or in the aggregate, a
Material Adverse Effect. 
 (d) In the event any Loan Party obtains, gives or receives notice of any Release or threat of
Release of a reportable quantity of any Hazardous Substances at any Real Property (any such event being hereinafter referred to as a “Hazardous Discharge”) or receives any notice of violation, request for information or notification that
it is potentially responsible for investigation or cleanup of environmental conditions at such Real Property, demand letter or complaint, order, citation, or other written notice with regard to any Hazardous Discharge or violation of Environmental
Laws affecting such Real Property or any Loan Party’s interest therein (any of the foregoing is referred to herein as an “Environmental Complaint”) from any Person, including any state agency responsible in whole or in part for
environmental matters in the state in which such Real Property is located or the United States Environmental Protection Agency (any such Person hereinafter the “Authority”), then the Borrowers shall promptly (but in any case within five
(5) Business Days) give written notice of same to the Lender detailing facts and circumstances of which any Loan Party is aware giving rise to the Hazardous Discharge or Environmental Complaint. Such information is to be provided to allow the
Lender to protect its Lien in such Real Property and is not intended to create nor shall it create any obligation upon the Lender with respect thereto. 

  
 46 

 (e) Loan Parties shall respond promptly to any Hazardous Discharge or Environmental
Complaint and take all necessary action in order to safeguard the health of any Person and to avoid subjecting the Collateral or any Real Property to any Lien, except where the failure to do so could not reasonably be expected to have, either
individually or in the aggregate, a Material Adverse Effect. 
 (f) During the continuation of an Event of Default, promptly
upon the written request of the Lender, Loan Parties shall provide the Lender, at Loan Parties’ expense, with an environmental site assessment or environmental audit report prepared by an environmental engineering firm acceptable in the
reasonable opinion of the Lender, to assess with a reasonable degree of certainty the existence of a Hazardous Discharge and the potential costs in connection with abatement, cleanup and removal of any Hazardous Substances found on, under, at or
within any Real Property. 
 (g) Loan Parties shall defend and indemnify the Lender and hold the Lender and its employees,
agents, directors and officers harmless from and against all loss, liability, damage and expense, claims, costs, fines and penalties, including attorney’s fees, suffered or incurred by the Lender under or on account of any Environmental Laws,
including, without limitation, the assertion of any Lien thereunder, with respect to any Hazardous Discharge, the presence of any Hazardous Substances affecting any Real Property, whether or not the same originates or emerges from such Real Property
or any contiguous real estate, except to the extent such loss, liability, damage and expense is attributable to any Hazardous Discharge resulting from actions on the part of the Lender caused by their gross (not mere) negligence or willful
misconduct, as determined pursuant to a final, non-appealable order of a court of competent jurisdiction. Loan Parties’ obligations under this Section 4.18 shall arise upon the discovery of the presence of any Hazardous Substances at Real
Property, whether or not any federal, state, provincial or local environmental agency has taken or threatened any action in connection with the presence of any Hazardous Substances. Loan Parties’ obligation and the indemnifications hereunder
shall survive the termination of this Agreement. 
 (h) For purposes of Sections 4.18 and 5.7, all references to any Real
Property shall be deemed to include all of Loan Parties’ and their respective Subsidiaries’ right, title and interest in and to their respective owned and leased premises. 

4.19 Financing Statements. 
 As of the Closing Date, except for the financing statements filed by the Lender and the other financing statements described on Schedule 7.2 (if any), no financing statement covering any of
the Collateral or any proceeds thereof is on file in any public office. 

  
 47 

 5. REPRESENTATIONS AND WARRANTIES. 

Each Loan Party represents and warrants as follows: 
 5.1 Authority, Etc. 
 Each Loan Party has the requisite limited liability
company or corporate power and authority and legal right to enter into this Agreement and the Other Documents and to perform all its respective Obligations hereunder and thereunder. The execution, delivery and performance of this Agreement and of
the Other Documents (a) are within such Loan Party’s limited liability company, partnership or corporate powers, as applicable, have been duly authorized, are not in contravention of law or the terms of such Loan Party’s certificate
of formation, limited liability company agreement, certificate or articles of incorporation, by-laws, partnership agreement or other applicable documents relating to such Loan Party’s formation and governance or to the conduct of such Loan
Party’s business or of any material agreement or undertaking to which such Loan Party is a party or by which such Loan Party is bound, and (b) will not conflict with nor result in any breach in any of the provisions of or constitute a
default under or result in the creation of any Lien except Permitted Encumbrances upon any asset of such Loan Party under the provisions of any agreement or instrument to which such Loan Party or its property is a party or by which it may be bound.
The execution, delivery, and performance by each Loan Party of this Agreement and the Other Documents to which such Loan Party is a party and the consummation of the transactions contemplated by this Agreement and the Other Documents do not and will
not require any registration with, Consent, or approval of, or notice to, or other action with or by, any Government Body, other than Consents or approvals that have been obtained or waived and that are still in force and effect or complied with,
except for filings and recordings with respect to the Collateral to be made, or otherwise delivered to the Lender for filing or recordation, as of the Closing Date. This Agreement and each Other Document has been duly executed and delivered by each
Loan Party that is a party thereto and is a legally valid and binding obligation of such Loan Party, enforceable against such Loan Party in accordance with its respective terms, except as enforcement may be limited by equitable principles or by
bankruptcy, insolvency, reorganization, moratorium, or similar laws relating to or limiting creditors’ rights generally. 

5.2 Formation and Qualification. 
 (a) Each Loan Party is duly formed or incorporated and in good standing under the laws of its respective state, province or other jurisdiction of organization or incorporation listed on
Schedule 5.2(a) (as such schedule may from time to time be updated in accordance with Section 7.18) and each Loan Party is qualified to do business and is in good standing in the states, provinces and other jurisdictions listed with
respect to that Loan Party on Schedule 5.2(a) (as such schedule may from time to time be updated in accordance with Section 7.18), which constitute all states, provinces and other jurisdictions in which qualification and good
standing are necessary for such Loan Party to conduct its business and own its property and where the failure to so qualify could reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect. The state or
provincial organizational number of each Loan Party is set forth on Schedule 5.2(a) (as such schedule may from time to time be updated in accordance with Section 7.18). Each Loan Party has delivered to the Lender true and complete
copies of its certificate of formation, limited liability company agreement, certificate of incorporation, by-laws, partnership agreement or other applicable documents relating to such Loan Party’s formation and governance, as the case may be,
and will promptly notify the Lender of any amendment or changes thereto. 
 (b) All of the Subsidiaries of each Loan Party are
listed on Schedule 5.2(b) (as such schedule may from time to time be updated in accordance with Section 7.12(a)). 

  
 48 

 5.3 Survival of Representations and Warranties. 

All representations and warranties of such Loan Party contained in this Agreement and the Other Documents shall be true at the time of
such Loan Party’s execution of this Agreement and the Other Documents, and shall survive the execution, delivery and acceptance thereof by the parties thereto and the closing of the transactions described therein or related thereto. 

5.4 Tax Returns. 
 To the extent applicable, each Loan Party’s federal tax identification number is set forth on Schedule 5.4. Except as otherwise expressly permitted by this Agreement, each Loan Party and
each of its Subsidiaries has (a) filed all federal and all other material state, provincial, local and other tax returns, reports and statements, including information returns, it is required by law to file and (b) paid all federal and all
other material state, provincial, local and other Taxes that are due and payable with respect thereto or otherwise owing. No federal or any other material state, provincial, local or other income tax return of any Loan Party or Subsidiary that has
been filed is known by any Loan Party to be under examination as of the Closing Date. All federal and all other material income tax returns have been timely filed as of the Closing Date. The provisions for Taxes on the books of each Loan Party and
each of its Subsidiaries are adequate in all material respects for all years not closed by applicable statutes, and for its current fiscal year, and no Loan Party nor any of its Subsidiaries has any knowledge of any material deficiency or additional
assessment in connection therewith not provided for on its books. 
 5.5 Financial Statements. 

(a) The pro forma balance sheet of Loan Parties and their Subsidiaries on a consolidated basis (the “Pro Forma Balance Sheet”)
furnished to the Lender on the Closing Date reflects the consummation of the transactions contemplated under this Agreement and the Related Transactions and is accurate, complete and correct in all material respects and fairly reflects the financial
condition of Loan Parties and their Subsidiaries on a consolidated basis as of the Closing Date after giving effect to the transactions under this Agreement and the Related Transactions, and has been prepared in accordance with GAAP, consistently
applied. 
 (b) The projections, dated March 30, 2012, for the fiscal years ending 2012 through 2017 of Loan Parties and
their Subsidiaries on a consolidated basis and their projected balance sheets as of the Closing Date were prepared by a Responsible Officer of Administrative Borrower and are based on underlying assumptions which Loan Parties believe provide a
reasonable basis for the projections contained therein in light of conditions and facts known to Loan Parties at the time such projections were made and reflect Loan Parties’ good faith judgment. 

(c) The consolidated balance sheets of Loan Parties, their Subsidiaries and such other Persons described therein as of December 31,
2011 and the related statements of income, changes in stockholders’ equity, and changes in cash flow for the period ended on such date, all accompanied by reports thereon containing opinions without qualification by independent certified public
accountants, copies of which have been delivered to the Lender, have been prepared in accordance with GAAP consistently applied (except for changes in application in which such accountants concur and present fairly the financial position of Loan
Parties and their Subsidiaries at such date and the results of their operations and changes in stockholders’ equity and cash flow for such period) and fairly reflects the financial condition of Loan Parties, their Subsidiaries and such other
Persons on a consolidated basis as of the date thereof. 

  
 49 

 (d) The consolidated balance sheets of Loan Parties, their Subsidiaries and such other
Persons described therein as of March 31, 2012 and the related statements of income, changes in stockholders’ equity, and changes in cash flow for the period ended on such date, copies of which have been delivered to the Lender, have been
prepared in accordance with GAAP, consistently applied and such balance sheet presents fairly the financial condition of Loan Parties, their Subsidiaries and such other Persons on a consolidated basis as of such date, subject to normal year-end
audit adjustments and absence of footnotes, the statement of cash flows and the statement of changes in shareholders’ equity. 
 (e) Since December 31, 2011, there has been no change in the condition, financial or otherwise, of any Borrower (individually), or Loan Parties and their Subsidiaries taken as a whole, except changes
which could not reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect. 
 5.6
Corporate Name. 
 The exact legal name of each Loan Party is set forth in the first paragraph to this Agreement (or, if
such Loan Party is not listed in such first paragraph, such exact legal name is set forth on Schedule 5.6 (as such schedule may from time to time be updated in accordance with Section 7.18)). No Loan Party has been known by any
other corporate, limited liability company or partnership name in the past five (5) years and no Loan Party sells Inventory or has submitted tax returns under any other name except as set forth on Schedule 5.6 (as such schedule may
from time to time be updated in accordance with Section 7.18), nor has any Loan Party been the surviving corporation of a merger, amalgamation or consolidation or acquired all or substantially all of the assets of any Person or has acquired any
assets of any Person outside the ordinary course of business during the preceding five (5) years except as set forth on Schedule 5.6 (as such schedule may from time to time be updated in accordance with Section 7.18).

 5.7 O.S.H.A. and Environmental Compliance. 
 (a) Each Loan Party and each of their Subsidiaries has duly complied, and each of their facilities, businesses, assets, properties and leaseholds are in compliance, in all material respects with the
provisions of the Federal Occupational Safety and Health Act, RCRA and any other applicable Environmental Laws; there have been no outstanding citations, notices or orders of non-compliance issued to any Loan Party or any of their Subsidiaries or
relating to its business, assets, property or leaseholds under any such laws, rules or regulations, except as could not reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect. 

(b) Each Loan Party and each of their Subsidiaries has been issued all required federal, state, provincial and local licenses,
certificates or permits relating to all applicable Environmental Laws, except as could not reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect. 

  
 50 

 (c) (i) There are no visible signs of releases, spills, discharges, leaks or disposal (each,
a “Release”) of Hazardous Substances at, upon, under or within any Real Property or any premises leased by any Loan Party or any of their Subsidiaries; (ii) there are no underground storage tanks or polychlorinated biphenyls on the
Real Property or any premises leased by any Loan Party or any of their Subsidiaries; (iii) neither the Real Property nor any premises leased by any Loan Party or any of their Subsidiaries has ever been used as a treatment, storage or disposal
facility of Hazardous Waste; and (iv) no Hazardous Substances are present on the Real Property or any premises leased by any Loan Party or any of their Subsidiaries, excepting such quantities as are handled in accordance with all applicable
manufacturer’s instructions and governmental regulations and in proper storage containers and as are necessary for the operation of the commercial business of any Loan Party or any of their Subsidiaries or of their respective tenants, in each
case under clauses (c)(i), (ii), (iii) and (iv), except as could not reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect. 
 5.8 Solvency; No Litigation, Violation of Law; No ERISA Issues. 
 (a) After
giving effect to the transactions contemplated by this Agreement and the Related Transactions, each Borrower is Solvent and Loan Parties and their Subsidiaries taken as a whole are Solvent. 

(b) No Loan Party nor any of their Subsidiaries has (i) except as disclosed in Schedule 5.8(b), any pending (or, to the
knowledge of any Loan Party, threatened in writing) litigation, arbitration, actions or proceedings which involve the possibility of having a Material Adverse Effect, (ii) except as disclosed in Schedule 5.8(b), as of the Closing
Date, any pending (or, to the knowledge of any Loan Party, threatened in writing) litigation, arbitration, actions or proceedings which involve the possibility of having liability in excess of $250,000, (iii) except as disclosed in
Schedule 5.8(b) (as such schedule may from time to time be updated by Administrative Borrower providing written notice to the Lender of any new commercial tort claims reasonably estimated to exceed $250,000), any commercial tort claims,
and (iv) except as disclosed in Schedule 5.8(b), as of the Closing Date, any Money Borrowed other than the Obligations. 
 (c) No Loan Party nor any of their Subsidiaries is in violation of any applicable statute, regulation or ordinance in any respect which could reasonably be expected to have, either individually or in the
aggregate, a Material Adverse Effect, nor is any Loan Party or any of their Subsidiaries in violation of any order of any court or Governmental Body which could reasonably be expected to have, either individually or in the aggregate, a Material
Adverse Effect. 

  
 51 

 (d) Except with respect to Multiemployer Plans, each plan that is intended to qualify under
Section 401 of the Code has been determined by the IRS to qualify under Section 401 of the Code, the trusts created thereunder have been determined to be exempt from tax under the provisions of Section 501 of the Code, and nothing has
occurred that would cause the loss of such qualification or tax exempt status. Each Plan is in compliance with the applicable provisions of ERISA and the Code, except to the extent that the failure to comply, individually or in the aggregate, could
not reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect. Neither any Loan Party nor ERISA Affiliate has failed to make any material contribution or pay any material amount due as required by either
Section 412 of the Code or Section 302 of ERISA or the terms of any such Plan. Neither any Loan Party nor ERISA Affiliate has engaged in a “prohibited transaction,” as defined in Section 406 of ERISA and Section 4975 of
the Code, in connection with any Plan, that would subject any Loan Party to a material tax on prohibited transactions imposed by Section 502(i) of ERISA or Section 4975 of the Code. Except as set forth in Schedule 5.8(d):
(i) no Title IV Plan has any Unfunded Pension Liability; (ii) no ERISA Event with respect to any Title IV Plan has occurred or is reasonably expected to occur; (iii) there are no pending, or to the knowledge of any Loan Party,
threatened claims (other than claims for benefits in the normal course), sanctions, actions or lawsuits, asserted or instituted against any Title IV Plan or any Person as fiduciary or sponsor of any Title IV Plan; (iv) no Loan Party or ERISA
Affiliate has incurred or reasonably expects to incur any liability as a result of a complete or partial withdrawal from a Multiemployer Plan; (v) within the last five (5) years no Title IV Plan of any Loan Party or ERISA Affiliate has
been terminated, whether or not in a “standard termination” as that term is used in Section 4041(b)(1) of ERISA, nor has any Title IV Plan of any Loan Party or any ERISA Affiliate (determined at any time within the last five
(5) years) with Unfunded Pension Liabilities been transferred outside of the “controlled group” (within the meaning of Section 4001(a)(14) of ERISA) of any Loan Party or ERISA Affiliate (determined at such time); (vi) except
in the case of any ESOP, Equity Interests of all Loan Parties and their ERISA Affiliates makes up, in the aggregate, no more than ten (10%) percent of fair market value of the assets of any Title IV Plan measured on the basis of fair market
value as of the latest valuation date of any Title IV Plan; and (vii) no liability under any Title IV Plan has been satisfied with the purchase of a contract from an insurance company that is not rated AAA by the Standard & Poor’s
Corporation or an equivalent rating by another nationally recognized rating agency. 
 5.9 Patents, Trademarks, Copyrights
and Licenses. 
 All patents, patent applications, trademarks, trademark applications, service marks, service mark
applications, copyrights, copyright applications, design rights, trade names, assumed names, trade secrets and licenses owned or utilized by any Loan Party or any of their Subsidiaries are set forth on Schedule 5.9 (as such schedule may
from time to time be updated by Administrative Borrower providing written notice to the Lender of any newly acquired Intellectual Property rights, so long as Loan Parties have taken (or caused to be taken) all steps required by the Lender to perfect
the Lender’s Lien therein), are valid and have been duly registered or filed with all appropriate Governmental Body and constitute all of the Intellectual Property rights which are necessary for the operation of its business; there is no
objection to or pending challenge to the validity of any such material patent, trademark, copyright, design right, trade name, trade secret or license and no Loan Party nor any Subsidiary of any Loan Party is aware of any grounds for any challenge.
Each patent, patent application, patent license, trademark, trademark application, trademark license, service mark, service mark application, service mark license, copyright, copyright application and copyright license owned or held by any Loan
Party or any such Subsidiary and all trade secrets used by any Loan Party or any such Subsidiary consist of original material or property developed by such Loan Party or such Subsidiary or was lawfully acquired by such Loan Party or such Subsidiary
from the proper and lawful owner thereof. Each of such items has been maintained so as to preserve the value thereof from the date of creation or acquisition thereof. With respect to all software used by any Loan Party, such Loan Party is in
possession of all source and object codes related to each piece of software or is the beneficiary of a source code escrow agreement, each such source code escrow agreement being listed on Schedule 5.9 (as such schedule may from time to
time be updated by Administrative Borrower providing written notice to the Lender of any newly acquired Intellectual Property rights, so long as Loan Parties have taken (or caused to be taken) all steps required by the Lender with respect thereto).

  
 52 

 5.10 Licenses and Permits. 

Each Loan Party and each Subsidiary of each Loan Party (a) is in compliance with and (b) has procured and is now in possession
of, all material licenses or permits required by any applicable federal, state, provincial, local or other law or regulation for the operation of its business in each jurisdiction wherein it is now conducting or proposes to conduct business and
where the failure to procure such licenses or permits could reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect. 
 5.11 No Contractual Default. 
 No Loan Party is in default in the payment
or performance of any of its contractual obligations with respect to which a default thereunder could be reasonably expected to have, either individually or in the aggregate, a Material Adverse Effect. 

5.12 No Burdensome Restrictions/No Liens. 
 No Loan Party nor any Subsidiary of any Loan Party is party to any contract or agreement the performance of which could reasonably be expected to have, either individually or in the aggregate, a Material
Adverse Effect. No Loan Party nor any Subsidiary of any Loan Party has agreed or consented to cause or permit in the future (upon the happening of a contingency or otherwise) any of its property, whether now owned or hereafter acquired, to be
subject to a Lien which is not a Permitted Encumbrance. 
 5.13 No Labor Disputes. 

No Loan Party nor any Subsidiary of any Loan Party is involved in any labor dispute; there are no strikes or walkouts or union
organization of any Loan Party’s or any of such Subsidiary’s employees in existence or threatened in writing and no labor contract is scheduled to expire during the Term other than as set forth on Schedule 5.13 (as such
schedule may from time to time be updated by Administrative Borrower providing written notice to the Lender of any newly arising item, so long as (i) Loan Parties have taken (or caused to be taken) all steps reasonably required by the Lender
with respect thereto and (ii) such items could not reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect). 
 5.14 Margin Regulations. 
 No Loan Party nor any Subsidiary of any Loan
Party is engaged, nor will it engage, principally or as one of its important activities, in the business of extending credit for the purpose of “purchasing” or “carrying” any “margin stock” within the meaning of the
quoted term under Regulation U of the Board of Governors of the Federal Reserve System as now and from time to time hereafter in effect. No part of the proceeds of the Term Loan will be used for “purchasing” or “carrying”
“margin stock” as defined in Regulation U of such Board of Governors. 

  
 53 

 5.15 Investment Company Act. 

No Loan Party nor any Subsidiary of any Loan Party is an “investment company” registered or required to be registered under the
Investment Company Act of 1940, as amended, nor is it controlled by such a company. 
 5.16 Disclosure. 

No representation or warranty made by or on behalf of any Loan Party or any Subsidiary of any Loan Party in this Agreement, any Other
Document or in any financial statement, report, certificate or any other document furnished in connection herewith and no information at any time furnished by or on behalf of any Loan Party or any Subsidiary of any Loan Party to the Lender pursuant
hereto or in connection herewith contains any untrue statement of a material fact or omits to state any material fact necessary to make the statements herein or therein not misleading in light of the circumstances under which they were made.

 5.17 Real Property. 
 Each Loan Party and each of its Subsidiaries owns record title in fee simple or the leasehold interest to the Real Property described on Schedule R-1 (as such Schedule may from time to time be
updated by written notice from Administrative Borrower to the Lender, so long as Loan Parties have taken (or caused to be taken) all steps reasonably required by the Lender with respect thereto), free and clear of all Liens, except Permitted
Encumbrances. The Real Property described on Schedule R-1 (as such Schedule may from time to time be updated by written notice from Administrative Borrower to the Lender, so long as Loan Parties have taken (or caused to be taken) all
steps reasonably required by the Lender with respect thereto) constitutes all of the Real Property of Loan Parties. 
 5.18
Hedging Agreements. 
 No Loan Party nor any Subsidiary of any Loan Party is a party to any Hedging Agreement as of the
Closing Date. 
 5.19 Conflicting Agreements. 
 No provision of any mortgage, indenture, contract, agreement, judgment, decree or order binding on any Loan Party or affecting the Collateral conflicts with, or requires any Consent which has not already
been obtained, or would in any way prevent the execution, delivery or performance of the terms of this Agreement or the Other Documents. 
 5.20 Business and Property of Loan Parties. 
 Upon and after the Closing
Date, Loan Parties and their Subsidiaries do not propose to engage in any business other than as currently conducted and related activities necessary to conduct the foregoing. Each Loan Party and each Subsidiary of a Loan Party owns or leases all
the property and possesses all of the rights and consents necessary for the conduct of the business of such Loan Party and such Subsidiary except as could not reasonably be expected to have, either individually or in the aggregate, a Material
Adverse Effect. 

  
 54 

 5.21 Material Contracts. 

Except for the Related Agreements and the other agreements set forth on Schedule 5.21 (collectively with the Related
Agreements, the “Material Contracts”, as such schedule may from time to time be updated by Administrative Borrower providing written notice to the Lender of any new contracts, so long as Loan Parties have taken (or caused to be taken) all
steps required by the Lender with respect thereto), as of the Closing Date there are no (a) employment agreements covering the management of any Loan Party or any Subsidiary, (b) collective bargaining agreements or other labor agreements
covering any employees of any Loan Party or any Subsidiary, (c) agreements for managerial, consulting or similar services to which any Loan Party or any Subsidiary is a party or by which it is bound, (d) agreements regarding any Loan Party
or any Subsidiary, its assets or operations or any investment therein to which any of its equity holders is a party, (e) patent licenses, trademark licenses, copyright licenses or other lease or license agreements in respect of intellectual
property to which any Loan Party or any Subsidiary is a party, either as lessor or lessee, or as licensor or licensee, (f) distribution, marketing or supply agreements to which any Loan Party or any Subsidiary is a party, (g) customer
agreements to which any Loan Party or any Subsidiary is a party, (h) real estate leases to which any Loan Party or any Subsidiary is a party, (in each case with respect to any agreement of the type described in the preceding clauses (a), (b),
(c), (d), (e), (f), (g) and (h) requiring payment of more than $250,000 in the aggregate in any year), (i) partnership agreements to which any Loan Party or any Subsidiary is a partner, limited liability company agreements to which
any Loan Party or any Subsidiary is a member or manager, or joint venture agreements to which any Loan Party or any Subsidiary is a party, or (j) any other agreements or instruments to which any Loan Party or any Loan Party is a party the
breach, nonperformance or cancellation of which, would reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect. The consummation of the transactions contemplated by this Agreement and the Other Documents
and the other Related Agreements will not give rise to a right of termination in favor of any party to any Material Contract which would reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect. Each
Material Contract is in full force and effect and no defaults enforceable against any Loan Party or any Subsidiary exist thereunder, except as could not reasonably be expected to have, either individually or in the aggregate, a Material Adverse
Effect. No Loan Party nor any Subsidiary of any Loan Party has received notice from any party to any Material Contract stating that it intends to terminate or amend such contract, except to the extent such termination could not reasonably be
expected to have, either individually or in the aggregate, a Material Adverse Effect. 
 5.22 Capital Structure.

 Schedule 5.22 sets forth the authorized Equity Interests, and owner thereof, of each of Loan Parties and each
of their Subsidiaries as of the Closing Date. All of the Equity Interests of each of Loan Parties (other than Parent) and each of their Subsidiaries are owned directly or indirectly by one of the Borrowers. All issued and outstanding Equity
Interests of each of Loan Parties and each of their Subsidiaries are duly authorized and validly issued, fully paid and non-assessable, and such Equity Interests were issued in compliance with all applicable laws. All issued and outstanding Equity
Interests of each Loan Party and each of their Subsidiaries are free and clear of all Liens other than Permitted Encumbrances and the Lien in favor of the Lender. The identity of the holders of the Equity Interests of each of the Loan Parties and
each of their Subsidiaries and the percentage of their fully diluted ownership of the Equity Interests of each of Loan Parties and each of their Subsidiaries as of the Closing Date is set forth on Schedule 5.22. No shares of the Equity
Interests of any Loan Party or any of their Subsidiaries, other than those described above, are issued and outstanding as of the Closing Date. As of the Closing Date there are no preemptive or other outstanding rights, options, warrants, conversion
rights or similar agreements or understandings for the purchase or acquisition from any Loan Party or any of their Subsidiaries of any Equity Interests of any such entity. 

  
 55 

 5.23 Bank Accounts, Security Accounts, Etc. 

No Loan Party has any bank accounts, deposit accounts, investments accounts, securities accounts or any other similar accounts other than
the accounts set forth Schedule 5.23 (as such Schedule may from time to time be updated by Administrative Borrower delivering a written update thereto to the Lender, so long as such updates are approved by the Lender and Loan Parties
take all action required by Section 4.14(h) with respect thereto). The purpose and type of each such account is specified on Schedule 5.23. 
 5.24 Related Agreements. 
 Administrative Borrower has furnished the Lender
a true and correct copy of each the Related Agreements, along with all agreements, side letters and other documents executed by any Loan Party, Subsidiary or Affiliate thereof in connection therewith. Each of Loan Parties and their respective
Subsidiaries and, to Loan Party’s knowledge, each other party to the Related Agreements, has duly taken all necessary organizational action to authorize the execution, delivery and performance of the Related Agreements and the consummation of
transactions contemplated thereby. As of the Closing Date, the Related Transactions have been consummated (or are being consummated substantially contemporaneously with the initial credit extension hereunder) in accordance with the terms of the
Related Agreements. The Related Transactions will comply with all applicable legal requirements, and all necessary Consents required to be obtained by a Loan Party or a Subsidiary thereof and, to each Loan Party’s knowledge, each other party to
the Related Agreements in connection with the Related Transactions will be, prior to consummation of the Related Transactions, duly obtained and will be in full force and effect. As of the date of the Related Agreements, all applicable waiting
periods with respect to the Related Transactions will have expired without any action being taken by any competent Governmental Body which restrains, prevents or imposes material adverse conditions upon the consummation of the Related Transactions.
The execution and delivery of the Related Agreements did not, and the consummation of the Related Transactions will not, violate any statute or regulation of the United States (including any securities law), Canada or of any state, province or other
applicable jurisdiction, or any order, judgment or decree of any court or Governmental Body binding on any Loan Party or Subsidiary or, to each Loan Party’s knowledge, any other party to the Related Agreements, or result in a breach of, or
constitute a default under, any material agreement, indenture, instrument or other document, or any judgment, order or decree, to which any Loan Party or Subsidiary is a party or by which any Loan Party or Subsidiary is bound or, to each Loan
Party’s knowledge, to which any other party to the Related Agreements is a party or by which any such party is bound. No statement or representation made in the Related Agreements by any Loan Party or Subsidiary or, to Loan Party’s
knowledge, any other Person, contains any untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary in order to make the statements made therein, in light of the circumstances under which they
are made, not misleading as of the time that such statement or representation is made. As of the Closing Date and any other date on which such representations and warranties are otherwise remade or deemed remade hereunder, (a) each of the
representations and warranties contained in the Related Agreements made by a Loan Party or any Subsidiary is true and correct in all material respects and (b) to each Loan Party’s knowledge, each of the representations and warranties
contained in the Related Agreements made by any Person other than a Loan Party is true and correct in all material respects. 

  
 56 

 5.25 OFAC. 
 None of Borrowers, any Subsidiary of any Borrower or any Affiliate of any Borrower: (a) is a Sanctioned Person, (b) has more than ten (10%) percent of its assets in Sanctioned Entities or
(c) derives more than ten (10%) percent of its operating income from investments in, or transactions with Sanctioned Persons or Sanctioned Entities. The proceeds of any Loan will not be used and have not been used to fund any operations
in, finance any investments or activities in, or make any payments to, a Sanctioned Person or a Sanctioned Entity. 
 6. AFFIRMATIVE
COVENANTS. 
 Each Loan Party shall at all times until all of the Obligations have been Paid in Full: 

6.1 Payment of Fees. 
 Promptly following demand, pay to the Lender all usual and customary fees and expenses which the Lender incurs in connection with (a) the forwarding of the Term Loan proceeds and (b) the
establishment and maintenance of any Blocked Accounts or Depository Accounts as provided for in Section 4.14(h). The Lender may, without making demand, charge the Borrowers’ Account for all such fees and expenses. 

6.2 Conduct of Business; Compliance with Laws and Maintenance of Existence and Assets. 

Conduct, and cause each Subsidiary of each Loan Party to conduct, continuously and operate actively its business according to business
practices and maintain, and cause each Subsidiary of each Loan Party to maintain, all of its properties useful or necessary in its business in good working order and condition in all material respects (reasonable wear and tear excepted and except as
may be Disposed of in accordance with the terms of this Agreement (including, without limitation, Section 7.1)), including, without limitation, all Intellectual Property and take all actions necessary to enforce and protect the validity of its
Intellectual Property. Each Loan Party shall, and shall cause each Subsidiary of each Loan Party to, (a) keep in full force and effect its existence and its material rights and franchises, except as expressly permitted by this Agreement
(including pursuant to Section 7.1), (b) comply in all material respects with the laws and regulations governing the conduct of its business where the failure to do so could reasonably be expected to have, either individually or in the
aggregate, a Material Adverse Effect, and (c) except as expressly permitted hereunder, make all such reports and pay all such franchise and other taxes and license fees and do all such other acts and things as may be lawfully required to
maintain its rights, licenses, leases, powers and franchises under the laws of the United States, Canada or any of their political subdivisions or, based on commercially reasonable efforts, to do so in any applicable foreign jurisdiction or any
political subdivision of any of such foreign jurisdictions. 

  
 57 

 6.3 Violations. 

Promptly after becoming aware of the same, notify the Lender in writing of any violation of any law, statute, regulation or ordinance of
any Governmental Body, or of any agency thereof, applicable to any Loan Party or any of their Subsidiaries which could reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect. 

6.4 Board Observation Rights. 
 Parent shall cause the Lender to have the right to designate one representative, who shall: (a) receive prior notice (no later than such notice is given to the members of the board of directors, the
equityholders, and the committee members, as applicable) of all meetings (both regular and special) of the board of directors and of the equityholders of Parent and each committee of such board of directors; (b) be entitled to attend (or, at
the option of such representative, monitor by telephone) all such meetings; (c) receive all notices, information, reports and minutes of meetings, which are furnished (or made available) to the members of the Parent board of directors and/or
any committee of such board of directors and/or equityholders of Parent at the same time and in the same manner as the same is furnished (or made available) to such members and equity holders; and (d) be entitled to participate in all
discussions conducted at such meetings. If any action is proposed to be taken by the Parent board of directors, equityholders and/or committee by written consent in lieu of a meeting, the Parent shall give, or shall cause to be given, written notice
thereof to such representative of the Lender, which notice shall describe in reasonable detail the nature and substance of such proposed action and shall be delivered not later than the date upon which any member of any such board of directors,
equityholders and/or committee receives the same. Parent shall furnish, or shall cause to be furnished, to such representative a copy of each such written consent not later than five (5) days after it has been signed by a sufficient number of
signatories to make it effective. Parent’s board shall meet at least two times per fiscal year and a customary board package shall be provided to each person who participates in each meeting, including to the representative of the Lender.
Notwithstanding the foregoing, the Lender may be excluded from access to any material or meeting or portion thereof if Parent’s board determines in good faith, upon advice of counsel, that such exclusion is reasonably necessary to preserve the
attorney-client privilege or Parent’s board wishes to discuss the Lender with respect to this Agreement or any Other Document. Any information and materials received pursuant to this Section 6.4 shall be subject to the terms of
Section 16.16. Each representative of the Lender referred to in this Section 6.4 shall acknowledge the confidentiality provisions contained in Section 16.16 hereof and agree in writing to be bound by the terms of Section 16.16 as
if such representative was a party to this Agreement. 
 6.5 Execution of Supplemental Instruments; Further Assurances.

 Promptly upon request by the Lender, each Loan Party shall take such additional actions (including, without limitation,
execution and delivery of such supplemental agreements or instruments, statements, assignments and transfers, or instructions or documents relating to the Collateral) as the Lender may require in its Permitted Discretion from time to time in order
(a) to carry out more effectively the purposes of this Agreement or any Other Document, (b) to subject all of the existing or hereinafter acquired personal and real property (other than Excluded Assets) of each Loan Party to first-priority
perfected Liens (other than with respect to the Revolving Loan Priority Collateral (subject to the Intercreditor Agreement) and subject to Permitted Encumbrances) in favor of the Lender to secure the Obligations, (c) to perfect and maintain the
validity, effectiveness and priority of any of the Liens created, or intended to be created thereby, by this Agreement or any Other Document to the extent required herein or therein, and (d) to better assure, convey, grant, assign, transfer,
preserve, protect and confirm to the Lender the rights granted or now or hereafter intended to be granted to the Lender under this Agreement or any Other Document. Without limiting the generality of the foregoing, each Loan Party shall (and shall
cause each other Loan Party to) guarantee (to the extent not already directly obligated with respect thereto) all of the Obligations and to grant to the Lender, a Lien in all of such Loan Party’s existing or hereinafter acquired personal and
real property (other than Excluded Assets) to secure all of the Obligations; provided, that, no such guarantee or grant shall be required by a Non-US Subsidiary that is a CFC (other than the Canadian Guarantor) to the extent such
guarantee or grant would result in material adverse tax consequences to Loan Parties under Treas. Reg. Section 1.956-2. 

  
 58 

 6.6 Payment of Indebtedness. 

Each Loan Party shall, and shall cause each Subsidiary of each Loan Party to, subject at all times to any applicable subordination or
intercreditor arrangement in favor of the Lender, pay, discharge or otherwise satisfy at or before maturity (subject, where applicable, to specified grace periods and, in the case of the trade payables, to normal payment practices) all its
Indebtedness of whatever nature, except when the failure to do so could not reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect or when the amount or validity thereof is currently being contested in
good faith by appropriate proceedings and each Loan Party and each of their Subsidiaries shall have provided for such reserves as the Lender may reasonably deem proper and necessary. 

6.7 Standards of Financial Statements. 
 Each Loan Party shall, and shall cause each Subsidiary of each Loan Party to, cause all financial statements referred to in Sections 9.7 and 9.9 as to which GAAP is applicable to be true and correct in
all material respects (subject, in the case of interim financial statements, to normal year-end audit adjustments) and to be prepared in reasonable detail and in accordance with GAAP consistently applied. 

6.8 Post-Closing Deliveries. 
 Without limiting any other obligation of the Loan Parties set forth herein or in any of the Other Documents, the Loan Parties shall deliver or cause to be delivered to the Lender, in form and substance
reasonably satisfactory to the Lender, as promptly as possible following the Closing Date, but in any event no later than the dates referred to in Schedule 6.8 hereto with respect to each such item (or such later date as the Lender shall
agree in writing), each of the items referred to in such Schedule. 

  
 59 

 7. NEGATIVE COVENANTS. 
 No Loan Party shall, nor shall any Loan Party permit any of its Subsidiaries to, at any time prior to the Payment in Full of all of the Obligations: 

7.1 Merger, Amalgamation, Consolidation, Acquisition and Sale of Assets. 

(a) Consummate any merger, amalgamation, consolidation or other reorganization with or into any other Person or acquire all or a
substantial portion of the assets or Equity Interests of any Person or permit any other Person to consolidate or amalgamate with or merge with it; except, that, (i) a Loan Party may merge, amalgamate or consolidate into another
Loan Party so long as (A) no Event of Default shall have occurred and be continuing, (B) Administrative Borrower shall give the Lender at least ten (10) Business Days prior notice thereof, (C) if a Borrower is a party to such
merger, amalgamation or consolidation, a Borrower shall be the surviving entity, (D) no Loan Party shall merge, amalgamate or consolidate with a Loan Party that exists under the laws of a country different than the country in which such Loan
Party exists and (E) prior to such merger, amalgamation or consolidation Loan Parties have taken (or caused to be taken) all steps required by the Lender with respect thereto (including without limitation all steps required by the Lender to
maintain the Lender’s Lien on the Collateral granted by such Loan Parties, as well as the priority and effectiveness of such Lien); and (ii) a Subsidiary of the Borrowers that is not a Loan Party may merge, amalgamate or consolidate into
another Subsidiary of the Borrowers that is not a Loan Party so long as (A) no Event of Default shall have occurred and be continuing, (B) Administrative Borrower shall give the Lender at least ten (10) Business Days prior notice
thereof, and (C) prior to such merger, amalgamation or consolidation Loan Parties have taken (or caused to be taken) all steps required by the Lender with respect thereto. 

(b) Acquire all or a substantial portion of the assets or Equity Interests of any Person except for investments permitted by
Section 7.4. 
 (c) Directly or indirectly, sell, assign, lease, transfer, abandon or otherwise dispose of any of its
assets or properties (including, without limitation, the Collateral) to any other Person (each, a “Disposition”), except for: 
 (i) the sale of Inventory in the ordinary course of business, 
 (ii) provided no
Default or Event of Default shall have occurred and be continuing or result therefrom, the Disposition of assets (other than equity interests of any of its Subsidiaries) having a fair market value not to exceed $250,000 in the aggregate in any
fiscal year; 
 (iii) the sale, lease, transfer or other Disposition of property by a Loan Party or a Subsidiary of a Loan
Party to any other Loan Party or Subsidiary of a Loan Party; provided, that, (A) if a Borrower or any of its assets is subject to a Disposition, all parties to such Disposition must be Borrowers, (B) if a Loan Party or any of
its assets is subject to a Disposition, all parties to such Disposition must be Loan Parties, (C) if a US Loan Party or any of its assets is subject to a Disposition, all parties to such Disposition must be US Loan Parties, (D) to the
extent such transaction constitutes an investment, such transaction must be permitted under Section 7.4 and (E) any Lien in favor of the Lender on such property shall continue in all respects and shall not be deemed released or terminated
as a result of such sale, lease, transfer or other Disposition and Loan Parties shall execute and deliver such agreements, documents and instruments as the Lender may reasonably request with respect thereto; 

(iv) the sale, lease, transfer or Disposition of used, worn-out or obsolete machinery and equipment and machinery and equipment no
longer used or useful in the conduct of business of Loan Parties or any of their Subsidiaries having a fair market value not to exceed $250,000 in the aggregate in any fiscal year; 

  
 60 

 (v) the grant in the ordinary course of business by any Loan Party or any of their
Subsidiaries after the date hereof of a non-exclusive license of any Intellectual Property or any exclusive license of any Intellectual Property in a particular territory; provided, that, the rights of the licensee shall be subject to
the rights of the Lender, and shall not adversely affect, limit or restrict the rights of the Lender to use such Intellectual Property or to sell or otherwise dispose of any Inventory or other Collateral in connection with the exercise by the Lender
of any rights or remedies hereunder or under any of the Other Documents, or otherwise adversely limit or interfere in any material respect with the use of any such Intellectual Property by the Lender in connection with the exercise of its rights or
remedies hereunder or under any of the Other Documents or by any Loan Party or Subsidiary; 
 (vi) the issuance of Equity
Interests by Loan Parties; provided, that, no Loan Party or Subsidiary shall be required to pay any cash dividends, distributions or repurchase or redeem such Equity Interests or make any other payments in respect thereof, except as
otherwise expressly permitted in Section 7.7; 
 (vii) the issuance of Equity Interests by Parent consisting of common
stock (or its equivalent) pursuant to an employee stock option plan or grant or similar equity plan or 401(k) plan of Loan Parties and their Subsidiaries for the benefit of their employees, directors and officers; 

(viii) the abandonment or other disposition of Intellectual Property that is not material and is no longer used or useful in any
material respect in the business of any Loan Party or any of its Subsidiaries and does not appear on or is otherwise not affixed to or incorporated in any Inventory or Equipment or have any material value; 

(ix) involuntary Dispositions occurring by reason of casualty or condemnation; 

(x) the leasing, occupancy agreements or sub-leasing of Real Property or Equipment in the ordinary course of business consistent with
past practices that would not materially interfere with the required use of such Real Property or Equipment by any Loan Party or any of its Subsidiaries; 
 (xi) transfers of condemned real property as a result of the exercise of “eminent domain” or other similar policies to the respective governmental authority or agency that has condemned the same
(whether by deed in lieu of condemnation or otherwise), and transfers of properties that have been subject to a casualty to the respective insurer of such real property as part of an insurance settlement; and 

(xii) any Disposition of property or assets, or issuance of Equity Interests, that is permitted under Sections 7.1(a) and 7.7.

  
 61 

 7.2 Creation of Liens. 

Create or suffer to exist any Lien or transfer upon or against any of its property or assets now owned or hereafter acquired, except for
Permitted Encumbrances. 
 7.3 Guarantees. 
 Become liable upon the obligations of any Person by assumption, endorsement or guarantee thereof or otherwise (other than with respect to the Obligations) except: 

(a) for the endorsement of checks in the ordinary course of business; 

(b) that (i) Loan Parties and their Subsidiaries may guarantee Indebtedness or other obligations of Borrowers and their US
Subsidiaries that are Loan Parties and (ii) a Non-US Subsidiary may guarantee Indebtedness or other obligations of another Non-US Subsidiary (provided if the Non-US Subsidiary that is providing such guarantee is a Loan Party such other Non-US
Subsidiary must also be a Loan Party); 
 (c) that Loan Parties and their Subsidiaries may guarantee Indebtedness under the
Revolving Loan Documents; and 
 (d) guarantees not permitted under clauses (a) through (b) above in an aggregate
outstanding amount not to exceed $100,000 at any time. 
 7.4 Investments. 

Purchase or acquire Indebtedness or Equity Interests of, or any other interest in, any Person, except: 

(a) cash or Cash Equivalents; 
 (b) as expressly permitted pursuant to Section 7.1, Section 7.5, Section 7.7 and Section 7.8; 
 (c) the endorsement of instruments for collection or deposit in the ordinary course of business; 
 (d) obligations under Hedging Agreements permitted under Section 7.8(e); 

(e) Equity Interests or other obligations issued to Loan Parties by any Person (or the representative of such Person) in compromise or
settlement of Indebtedness of such Person owing to Loan Parties (whether or not in connection with the insolvency, bankruptcy, receivership or reorganization of such a Person or a composition or readjustment of the debts of such Person) or upon the
foreclosure, perfection or enforcement of any Lien in favor of a Loan Party securing any such obligations; 
 (f) obligations of
account debtors to Loan Parties and their Subsidiaries arising from Accounts which are evidenced by a promissory note made by such account debtor payable to the applicable Loan Party or Subsidiary; provided, that, promptly upon the
receipt of the original of any such promissory note issued to any Loan Party from any account debtor in excess of $250,000 in the aggregate (or regardless of the amount after an Event of Default exists or has occurred and is continuing, at the
request of the Lender) and to the extent not delivered to the Revolving Loan Agent in accordance with the terms of the Revolving Loan Documents, such promissory note(s) shall, upon the request of the Lender, be endorsed to the order of the Lender by
Loan Parties and promptly delivered to the Lender as so endorsed; 

  
 62 

 (g) investments by Loan Parties and their Subsidiaries in the form of Equity Interests
received as part or all of the consideration for the sale of assets pursuant to a Disposition by any such Loan Party of Subsidiary to the extent permitted under Section 7.1(c); 

(h) the existing investments of any Loan Party or Subsidiary thereof as of the date hereof in their respective Subsidiaries; 

(i) investments made after the date hereof by (i) Parent in another Loan Party, (ii) a Loan Party (other than Parent) in
another Loan Party, (iii) a US Subsidiary of a Loan Party in a US Subsidiary of another Loan Party and (iv) a Non-US Subsidiary of a Loan Party in a Non-US Subsidiary of a Loan Party; provided, that, in no such case shall a
Loan Party make an investment in a Person that is not a Loan Party; 
 (j) Permitted Acquisitions; 

(k) loans or advances to employees, officers and directors to the extent permitted in Section 7.5(c); and 

(l) investments not permitted under clauses (a) through (k) above in an aggregate outstanding amount not to exceed the $100,000
at any time; provided, that, as of the date of such investment or any payment made in respect thereof and after giving effect to such investment or payment, no Default or Event of Default shall exist or have occurred and be continuing.

 7.5 Loans. 
 Make advances, loans or other extensions of credit to any Person, including, without limitation, any Subsidiary or Affiliate, except with respect to: 

(a) the extension of commercial trade credit in connection with the sale of Inventory or the provision of services, each in the ordinary
course of its business; 
 (b) deposits of cash for leases, utilities, worker’s compensation and similar matters in the
ordinary course of business; 
 (c) advances or loans by a Loan Party or any Subsidiary of a Loan Party to its employees,
officers or directors in the ordinary course of business in an aggregate amount not to exceed $75,000 at any time outstanding for: (i) reasonable and necessary work-related travel or other ordinary business expenses to be incurred by such
employee, officer or director in connection with their work for such Loan Party or Subsidiary and (ii) reasonable and necessary relocation expenses of such employees, officers and directors (including home mortgage financing for relocated
employees, officers and directors); and 

  
 63 

 (d) advances, loans or extensions of credit made by (i) Parent to another Loan Party,
(ii) a Loan Party (other than Parent) to another Loan Party, (iii) a US Subsidiary of a Loan Party in a US Subsidiary of another Loan Party and (iv) a Non-US Subsidiary of a Loan Party to a Non-US Subsidiary of a Loan Party;
provided, that, in no such case shall a Loan Party make an advance, loan or extension of credit in a Person that is not a Loan Party. 
 7.6 Financial Covenants. 
 (a) Capital Expenditures. Contract for,
purchase or make any Capital Expenditures during any fiscal year set forth below in an aggregate amount in excess of the amount set forth below for such year: 
  

					
	 Fiscal Year
	  	Maximum Capital Expenditures	 
	 Fiscal year ended December 31, 2012
	  	$	5,500,000	  
	 Fiscal year ended December 31, 2013 and each fiscal year thereafter
	  	$	12,000,000	  

 (b) Minimum EBITDA. Permit EBITDA for the preceding twelve (12) month period ending on any
date set forth below to be less than the amount set forth below for such date: 
  

					
	 Date
	  	Minimum EBITDA	 
	 March 31, 2012
	  	$	3,800,000	  
	 June 30, 2012
	  	$	4,000,000	  
	 September 30, 2012
	  	$	5,500,000	  
	 December 31, 2012
	  	$	8,000,000	  
	 March 31, 2013
	  	$	9,000,000	  
	 June 30, 2013
	  	$	10,000,000	  
	 September 30, 2013
	  	$	11,000,000	  
	 December 31, 2013
	  	$	12,000,000	  
	 March 31, 2014
	  	$	12,000,000	  
	 June 30, 2014
	  	$	12,000,000	  
	 September 30, 2014
	  	$	12,000,000	  
	 December 31, 2014
	  	$	12,000,000	  
	 March 31, 2015
	  	$	12,000,000	  
	 June 30, 2015
	  	$	12,000,000	  
	 September 30, 2015
	  	$	12,000,000	  
	 December 31, 2015
	  	$	12,000,000	  
	 March 31, 2016
	  	$	14,000,000	  
	 June 30, 2016
	  	$	14,000,000	  

  
 64 

 (c) Total Debt to EBITDA Ratio. Permit the ratio of total Indebtedness of the Loan
Parties on a consolidated basis to EBITDA for the preceding twelve (12) month period ending on any date set forth below to exceed the ratio set forth below for such date: 

 

					
	 Date
	  	Ratio	 
	 June 30, 2012
	  	 	5.5 : 1.00	  
	 September 30, 2012
	  	 	4.7 : 1.00	  
	 December 31, 2012
	  	 	4.3 : 1.00	  
	 March 31, 2013
	  	 	4.0 : 1.00	  
	 June 30, 2013
	  	 	3.9 : 1.00	  
	 September 30, 2013
	  	 	3.8 : 1.00	  
	 December 31, 2013
	  	 	3.7 : 1.00	  
	 March 31, 2014
	  	 	3.5 : 1.00	  
	 June 30, 2014
	  	 	3.5 : 1.00	  
	 September 30, 2014
	  	 	3.5 : 1.00	  
	 December 31, 2014
	  	 	3.5 : 1.00	  
	 March 31, 2015
	  	 	3.3 : 1.00	  
	 June 30, 2015
	  	 	3.3 : 1.00	  
	 September 30, 2015
	  	 	3.3 : 1.00	  
	 December 31, 2015
	  	 	3.3 : 1.00	  
	 March 31, 2016
	  	 	3.0 : 1.00	  
	 June 30, 2016
	  	 	3.0 : 1.00	  

 (d) Minimum Refill Gross Profit. Permit the Gross Profit of the Refill Division for the preceding
twelve (12) month period ending on March 31, June 30, September 30 and December 31 of each calendar year to be less than $10,500,000. For purposes of this Section 7.6(d), the Gross Profit of the Refill
Division shall be deemed to be (i) $3,527,999 for the fiscal quarter ended June 30, 2011, (ii) $3,998,874 for the fiscal quarter ended September 30, 2011 and (iii) $2,707,596 for the fiscal quarter ended December 31,
2011. 
 7.7 Dividends and Distributions. 
 Declare, pay or make any dividend or distribution or payment with respect to: 

(a) any shares of the Equity Interests of any Loan Party or any of their Subsidiaries (other than dividends or distributions payable in
its Equity Interests permitted hereunder) or apply any of its funds, property or assets to the purchase, redemption or other retirement of any such Equity Interests; except, that, (i) in lieu of making tax payments directly, Loan
Parties and their Subsidiaries may make dividends and distributions to Parent from time to time for the sole purpose of allowing Parent to, and Parent shall promptly upon receipt thereof use the proceeds thereof solely to, pay federal, state and
provincial income taxes and franchise taxes solely arising out of the consolidated operations of Parent, Borrowers and their Subsidiaries, after taking into account all available credits and deductions (provided, that, no Borrower or
Subsidiary thereof shall make any distribution to Parent in any amount greater than the share of such taxes arising out of Borrowers and their Subsidiaries’ consolidated net income); (ii) Loan Parties and their Subsidiaries may make
dividends and distributions to any Loan Party from time to time in respect of any Equity Interests owned by any Loan Party; and (iii) Parent may purchase and redeem its Equity Interests for the sole purpose of providing proceeds to Equity
Interest Option Holders in order to permit such Equity Interest Option Holders to pay federal, state and provincial income taxes solely arising out of and relating to options and warrants owned by such Equity Interest Option Holders;
provided, that the aggregate amount of purchases and redemptions under this clause (iii) shall not exceed $150,000 during any fiscal year; and 

  
 65 

 (b) any redemption, prepayment (whether mandatory or optional), defeasance, repurchase or
any other payment in respect of any Subordinated Debt, or apply any of its funds, property or assets to the purchase, redemption or other retirement of any Subordinated Debt; except, that, mandatory payments may be made on Subordinated
Debt to the extent expressly permitted in any subordination or intercreditor agreement executed by the Lender with respect thereto. 
 7.8 Indebtedness. 
 Create, incur, assume or suffer to exist any
Indebtedness (exclusive of trade payables incurred in the ordinary course of business consistent with past practices outstanding no more than thirty (30) days past its due date) except in respect of: 

(a) the Obligations; 
 (b) Indebtedness (other than the Obligations) to the extent incurred after the Closing Date to finance Capital Expenditures in an aggregate amount not to exceed $500,000 at any one time outstanding;

 (c) Indebtedness existing on the Closing Date as set forth on Schedule 7.8 and any refinancings, refundings,
renewals or extensions thereof (without shortening the maturity thereof or increasing the principal amount thereof (excluding accrued interest, fees, discounts, premiums and expenses)); 

(d) Indebtedness expressly permitted by Section 7.3 and Section 7.5; 

(e) Indebtedness arising under Hedging Agreements which are not entered into for speculative purposes and are intended to provide
protection against fluctuations in interest rates or foreign currency exchange rates; 
 (f) Indebtedness in respect of netting
services, overdraft protections, employee credit card programs and otherwise in connection with deposit accounts and Indebtedness arising from the honoring by a bank or other financial institution of a check, draft or similar instrument
inadvertently (except in the case of daylight overdrafts) drawn against insufficient funds in the ordinary course of business; provided, that, such Indebtedness is extinguished within five (5) Business Days of incurrence;

 (g) Indebtedness in respect of bid, performance and surety bonds, including guarantees or obligations of Loan Parties with
respect to letters of credit supporting such bid, performance and surety bonds or other forms of credit enhancement supporting performance obligations under services contracts, workers’ compensation claims, self-insurance obligations,
unemployment insurance, health, disability and other employee benefits or property, casualty or liability insurance in each case incurred in the ordinary course of business; provided, that, upon the Lender’s request, the Lender
shall have received true, correct and complete copies of all material agreements, documents or instruments evidencing or otherwise related to such Indebtedness, as duly authorized, executed and delivered by the parties thereto; 

  
 66 

 (h) unsecured Indebtedness arising from agreements to provide for customary indemnification,
adjustment of purchase price or similar obligations, earn-outs or other similar obligations, in each case, incurred in connection with a Permitted Acquisition or Disposition permitted hereunder and in the case of earn-outs or other similar
obligations so long as they have been subordinated to the Obligations pursuant to a subordination agreement in favor of the Lender on terms and conditions reasonably satisfactory to the Lender; 

(i) unsecured subordinated Indebtedness of Loan Parties and their Subsidiaries arising after the date hereof to any third person not
otherwise permitted in this Section 7.8, in an aggregate outstanding principal amount not to exceed $100,000 at any time and any refinancings, refundings, renewals or extensions thereof (without shortening the maturity thereof or increasing the
principal amount thereof (excluding accrued interest, fees, discounts, premiums and expenses)); provided, that, (i) as of the date of incurring such Indebtedness and after giving effect thereto, no Default or Event of Default
shall exist or have occurred and be continuing, (ii) the terms and provisions of such Indebtedness shall provide that no principal or interest (other than interest payable in kind (i.e., non-cash interest)) shall be paid in
respect thereof until after all of the Obligations are Paid in Full, and (iii) such third person shall have entered into a subordination agreement with the Lender on terms and conditions reasonably satisfactory to the Lender; 

(j) Indebtedness arising pursuant to financing of insurance premiums payable on insurance policies maintained by or for the benefit of
Loan Parties or any of their Subsidiaries; provided, that, upon the Lender’s request, the Lender shall have received true, correct and complete copies of all material agreements, documents and instruments evidencing or otherwise
related to such Indebtedness; 
 (k) subject to the terms and conditions of the Intercreditor Agreement, Indebtedness of any
Loan Party under the Revolving Loan Documents; and 
 (l) additional unsecured Indebtedness of Loan Parties and their
Subsidiaries in an aggregate principal amount not to exceed $100,000 at any one time outstanding. 
 7.9 Nature of Business.

 Substantially change the nature of the business in which it is presently engaged, and similar, related or complementary
businesses subsequently engaged in, nor except as specifically permitted hereby purchase or invest, directly or indirectly, in any assets or property other than in the ordinary course of business for assets or property which are useful in, necessary
or appropriate for and are to be used in its business as presently conducted or similar, related or complementary businesses. 

7.10 Transactions with Affiliates. 
 Directly or indirectly, purchase, acquire or lease any property from, or sell, transfer or lease any property to, or otherwise deal with, any Affiliate, except for: 

(a) transactions, arrangements and other business activities entered into in the ordinary course of business, on an arm’s-length
basis on terms no less favorable than terms which would have been obtainable from a Person other than an Affiliate; 

  
 67 

 (b) any employment or compensation arrangement or agreement, employee benefit plan or
arrangement, officer or director indemnification agreement or any similar arrangement or other compensation arrangement entered into in good faith, for actual services rendered to any Loan Party or any Subsidiary, by any Loan Party and the
Subsidiaries in the ordinary course of business and non-cash payments, issuance of securities or awards pursuant thereto, and including the grant of stock options, restricted stock, stock appreciation rights, phantom stock awards or similar rights
to employees and directors in each case approved by the Board of Directors of such Loan Party; and 
 (c) transactions among
Loan Parties and their Subsidiaries expressly permitted by Section 7.1(c), Section 7.3(b), Section 7.4(i), Section 7.5(c), Section 7.5(d) and Section 7.7. 

7.11 Leases. 
 After the Closing Date, enter as lessee into any lease arrangement for Equipment or Real Property (unless capitalized and permitted under Sections 7.6 and 7.8) if after giving effect thereto, aggregate
annual rental payments for all leased property would exceed $500,000 in any one (1) fiscal year for all Loan Parties and their Subsidiaries (or such higher amount as the Lender may approve in its sole discretion). Any renewal, replacement or
extension of any lease or lease arrangement that exists as of the Closing Date shall not be taken into account for the purposes of this Section 7.11. 
 7.12 Subsidiaries. 
 (a) Form any Subsidiary unless (i) such
Subsidiary expressly joins in this Agreement as a Loan Party, becomes jointly and severally liable for, or otherwise guaranties, all of the Obligations and grants a Lien on substantially all of its assets to secure all of the Obligations and
consents to the pledge of its Equity Interests to secure all of the Obligations in form and substance reasonably satisfactory to the Lender (in each case, except (A) to the extent that such assets constitute Excluded Assets and (B) no such
guarantee or grant shall be required by a Non-US Subsidiary that is a CFC to the extent such guarantee or grant would result in material adverse tax consequences to Loan Parties under Treas. Reg. Section 1.956-2), (ii) the Lender is
provided with a pledge of all of the outstanding Equity Interests of such Subsidiary to secure all of the Obligations in form and substance reasonably satisfactory to the Lender (except to the extent that such Equity Interests constitutes Excluded
Assets), and (iii) the Lender shall have received fifteen (15) days prior written notice thereof (along with an update of Schedule 5.2(b)) and all documents, including collateral documents, guaranties, corporate authority
documents and legal opinions, as the Lender may require in its Permitted Discretion in connection therewith, all in form and substance reasonably satisfactory to the Lender; provided, that, investments in any Subsidiary which Loan
Parties may form in accordance with this Section 7.12(a) may only be made to the extent permitted by Section 7.4. 

(b) Enter into any partnership, joint venture or similar arrangement. 

7.13 Fiscal Year and Accounting Changes. 
 Change its fiscal year-end from December 31, or make any change (a) in accounting treatment and reporting practices except as required by GAAP consistently applied or (b) in tax reporting
treatment except as required by law. 

  
 68 

 7.14 Pledge of Credit. 

Now or hereafter pledge the Lender’s credit on any purchases or for any purpose. 

7.15 Amendment of Organizational Documents; Revolving Loan Documents; and other Related Agreements. 

(a) Amend, modify or waive any term or provision of its certificate of formation, limited liability company agreement, certificate of
incorporation, by-laws, partnership agreement or other applicable documents relating to such Loan Party’s or Subsidiary’s formation or governance, or any shareholders agreement, unless the Lender is provided prior five (5) Business
Days’ prior written notice of any such amendment, modification or waiver and such amendment, modification or waiver is not materially adverse in any respect to the Lender. 

(b) Amend, modify or waive any term or provision of any Revolving Loan Documents, unless the Lender is provided prior five
(5) Business Days’ prior written notice of any such amendment, modification or waiver and such amendment, modification or waiver is permitted by the Intercreditor Agreement. 

(c) Amend, modify or waive any term or provision of any Related Agreement or Material Contract not specified in another clause of this
Section 7.15, unless the Lender is provided prior five (5) Business Days’ prior written notice of any such amendment, modification or waiver and such amendment, modification or waiver is not materially adverse in any respect to the
Lender. 
 7.16 Compliance with ERISA. 
 (a) Maintain, or permit any member of the Controlled Group to maintain, or become obligated to contribute, or permit any member of the Controlled Group to become obligated to contribute, to any Title IV
Plan, other than those Title IV Plans disclosed on Schedule 5.8(d), (b) engage, or permit any member of the Controlled Group to engage, in any non-exempt “prohibited transaction”, as that term is defined in
Section 406 of ERISA and Section 4975 of the Code, (c) incur, or permit any member of the Controlled Group to fail the applicable “minimum funding standard”, as that term is defined in Section 302 of ERISA or
Section 412 of the Code, (d) terminate, or permit any member of the Controlled Group to terminate, any Title IV Plan where such event could result in any liability of any Loan Party or any member of the Controlled Group or the imposition
of a Lien on the property of any Loan Party or any member of the Controlled Group pursuant to Section 4068 of ERISA, (e) assume, or permit any member of the Controlled Group to assume, any obligation to contribute to any Multiemployer Plan
not disclosed on Schedule 5.8(d), (f) incur, or permit any member of the Controlled Group to incur, any withdrawal liability to any Multiemployer Plan, except to the extent that the failure to comply, individually or in the
aggregate, could not reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect, (g) fail promptly to notify the Lender of the occurrence of any Termination Event, (h) fail to comply, or permit a
member of the Controlled Group to fail to comply, with the requirements of ERISA or the Code or other applicable laws in respect of any Plan, or (i) fail to meet, or permit any member of the Controlled Group to fail to meet, all minimum funding
requirements under ERISA or the Code or postpone or delay or allow any member of the Controlled Group to postpone or delay any funding requirement with respect of any Title IV Plan. 

  
 69 

 7.17 Prepayment, Etc. of Money Borrowed. 

At any time, directly or indirectly, voluntarily prepay any Money Borrowed (other than the Obligations), or voluntarily repurchase,
redeem, retire or otherwise acquire any Money Borrowed of any Loan Party or any Subsidiary, in each case prior to the due date thereof. 
 7.18 State of Organization/Names/Locations. 
 Change the jurisdiction in
which it is incorporated or otherwise organized, or change its legal name (or use a different name), location of chief executive office or location of any of the Collateral, unless Administrative Borrower has given the Lender not less than thirty
(30) days prior written notice thereof (along with an update of Schedule 4.4, Schedule 4.14(c), Schedule 5.2(a) and Schedule 5.6, as applicable) and Loan Parties have taken (or caused to be taken)
all steps required by the Lender with respect thereto (including without limitation all steps required by the Lender to maintain the Lender’s Lien on such Collateral, as well as the priority and effectiveness of such Lien); provided,
that, no Loan Party shall change its jurisdiction of incorporation or organization or location of any of its Collateral to a jurisdiction or location from (a) the continental United States to outside of the continental United States or
(b) one country to another country. 
 7.19 Foreign Assets Control Regulations, Etc. 

None of the requesting or borrowing of the Term Loan or the use of the proceeds of thereof will violate the Trading With the Enemy Act
(50 U.S.C. §1 et seq., as amended) (the “Trading With the Enemy Act”) or any of the foreign assets control regulations of the United States Treasury Department (31 C.F.R., Subtitle B, Chapter V, as amended) (the “Foreign Assets
Control Regulations”) or any enabling legislation or executive order relating thereto (including, but not limited to (a) Executive order 13224 of September 21, 2001 Blocking Property and Prohibiting Transactions With Persons Who
Commit, Threaten to Commit, or Support Terrorism (66 Fed. Reg. 49079 (2001)) (the “Executive Order”) and (b) the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of
2001 (Public Law 107-56). Neither Borrowers nor any other Loan Party is or will become a Sanctioned Entity or Sanctioned Person as described in the Executive Order, the Trading with the Enemy Act or the Foreign Assets Control Regulations or engages
or will engage in any dealings or transactions, or be otherwise associated, with any such Sanctioned Entity or Sanctioned Person. 
 8.
CONDITIONS PRECEDENT. 
 8.1 Conditions to Term Loan. 

The agreement of the Lender to make the Term Loan requested to be made on the Closing Date is subject to the satisfaction, or waiver by
the Lender, immediately prior to or concurrently with the making of the Term Loan, of the following conditions precedent, all in form and substance acceptable to the Lender: 
 (a) Agreement. The Lender shall have received this Agreement duly executed and delivered by an authorized officer of each of the parties hereto; 

(b) Term Note. The Lender shall have received the Term Note duly executed and delivered by an authorized officer of the Borrowers
in favor of the Lender; 

  
 70 

 (c) Warrants. The Lender shall have received the Warrants duly executed and delivered
by an authorized officer of the Parent in favor of the Lender; 
 (d) Registration Rights Agreement. The Lender shall
have received the Registration Rights Agreement duly executed and delivered by an authorized officer of the Parent in favor of the Lender; 
 (e) Filings, Registrations, Recordings and Searches. Each document (including, without limitation, any UCC and PPSA financing statements) required by this Agreement, any Other Document or under law
or reasonably requested by the Lender to be filed, registered or recorded in order to create, in favor of the Lender, a perfected Lien upon the Collateral shall have been properly filed, registered or recorded in each jurisdiction in which the
filing, registration or recordation thereof is so required or requested, and the Lender shall have received an acknowledgment copy, or other evidence satisfactory to it, of each such filing, registration or recordation and satisfactory evidence of
the payment of any necessary fee, tax or expense relating thereto. The Lender shall also have received UCC, PPSA, tax, judgment and other Lien searches with respect to each Loan Party in such jurisdictions as the Lender shall require, and the
results of such searches shall be satisfactory to the Lender; 
 (f) Payoff Letters; Releases. Fully executed payoff
letters (or other evidence of repayment) from all creditors being repaid (in whole or in part) in connection with the making of the Term Loan, along with appropriate Lien releases; 

(g) Corporate Proceedings of Loan Parties. The Lender shall have received a copy of the resolutions of the board of directors (or
equivalent authority) of each Loan Party authorizing (i) the execution, delivery and performance of this Agreement and the Other Documents to which it is a party, and (ii) the granting by each Loan Party of the Liens upon the Collateral in
each case certified by the Secretary or an Assistant Secretary of each Loan Party as of the Closing Date; and, such certificate shall state that the resolutions thereby certified have not been amended, modified, revoked or rescinded as of the date
of such certificate; 
 (h) Incumbency Certificates of Loan Parties. The Lender shall have received a certificate of the
Secretary or an Assistant Secretary of each Loan Party, dated as of the Closing Date, as to the incumbency and signature of the officers of each Loan Party executing this Agreement, any certificate or Other Documents to be delivered by it pursuant
hereto, together with evidence of the incumbency of such Secretary or Assistant Secretary; 
 (i) Certificates. The
Lender shall have received a copy of the certificate of formation, limited liability company agreement, certificate of incorporation, by-laws, partnership agreement or other applicable documents relating to each Loan Party’s formation and
governance, and all amendments thereto, certified in the case of formation documents filed with a Governmental Body by the Secretary of State or other appropriate official of its jurisdiction of incorporation or formation and certified in the case
of other formation and governance documents as accurate and complete by the Secretary or Assistant Secretary of each Loan Party; 

  
 71 

 (j) Good Standing Certificates. The Lender shall have received good standing
certificates or certificates of status or certificates of compliance, as applicable, for each Loan Party dated not more than thirty (30) days prior to the Closing Date, issued by the Secretary of State or other appropriate official of each such
Loan Party’s jurisdiction of incorporation or formation and each jurisdiction in which qualification and good standing are necessary for each such Loan Party to conduct its business and own its property and where the failure to so qualify could
reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect; 
 (k) Legal Opinion.
The Lender shall have received the executed legal opinions of Loan Parties’ legal counsel, which shall cover such matters incident to the transactions contemplated by this Agreement and the Other Documents as the Lender may reasonably require
and each Loan Party hereby authorizes and directs such counsel to deliver such opinions to the Lender; 
 (l) No
Litigation. (i) No litigation, investigation or proceeding before or by any arbitrator or Governmental Body shall be continuing or threatened in writing against any Loan Party or against the officers or directors of any Loan Party in
connection with this Agreement and/or the Other Documents or any of the transactions contemplated thereby and which, in the reasonable opinion of the Lender, is deemed material and (ii) no injunction, writ, restraining order or other order of
any nature materially adverse to any Loan Party or the conduct of its business or inconsistent with the due consummation of the transactions contemplated by this Agreement or any of the other Related Transactions shall have been issued by any
Governmental Body; 
 (m) Collateral Examination. The Lender shall have completed Collateral examinations and received
appraisals, the results of which shall be satisfactory in form and substance to Lender, of the Collateral of each Loan Party and all books and records in connection therewith; 
 (n) Fees and Expenses. The Lender shall have received the Closing Fee on or prior to the Closing Date pursuant to Section 2.2(a) and all reimbursable expenses of the Lender invoiced to date in
accordance with this Agreement; 
 (o) Financial Statements. The Lender shall have received a copy of the financial
statements referred to in Section 5.5; 
 (p) Other Documents. The Lender shall have received fully executed copies
of all Other Documents to the extent required to be executed on the Closing Date; 
 (q) Insurance. The Lender shall have
received insurance certificates and loss payable endorsements naming the Lender as loss payee or additional insured, as applicable, with respect to Loan Parties’ property and liability insurance policies; 

(r) Payment Instructions. The Lender shall have received written instructions from Administrative Borrower directing the
application of proceeds of the Term Loan made pursuant to this Agreement; 
 (s) Blocked Accounts; Cash Management. Loan
Parties shall have established deposit accounts and cash management arrangements in form and substance reasonably satisfactory to the Lender (it being understood and agreed that, as of the Closing Date, the cash management arrangements maintained at
the Existing Deposit Banks are reasonably satisfactory to the Lender); 

  
 72 

 (t) Consents. The Lender shall have received any and all Consents necessary to permit
the effectuation of the transactions contemplated by this Agreement and the Related Transactions; and, the Lender shall have received such Consents and waivers of such third parties as might assert claims with respect to the Collateral, as the
Lender and its counsel shall deem necessary; 
 (u) No Adverse Material Change. Since December 31, 2011, there shall
not have occurred any event, condition or state of facts which could reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect; 
 (v) Collateral Access Agreements. The Lender shall have received duly executed Collateral Access Agreements with respect to all third party Collateral locations required by the Lender; 

(w) Equity Interests Pledge. The Lender shall have received a pledge agreement, executed by each applicable Loan Party in favor of
the Lender, pursuant to which such Loan Party shall pledge to the Lender and grant to the Lender a Lien, subject to the terms of the Intercreditor Agreement, upon all of the outstanding Equity Interests of each Subsidiary (other than Equity
Interests, if any, constituting Excluded Assets) of such Loan Party, together with share powers duly executed in blank and originals of any related share, membership or other similar certificates; 

(x) Revolving Loan Documents. The Lender shall have received executed copies of the Intercreditor Agreement and all of the
Revolving Loan Documents, and evidence that Loan Parties have received $25,000,000 in the aggregate from advances made on or about the date hereof as proceeds thereof; 
 (y) Related Transactions. Loan Parties and their Subsidiaries shall have completed (or concurrently with the initial credit extension hereunder will complete) the Related Transactions in accordance
with the terms of the Related Agreements (without any amendment thereto or waiver thereunder unless consented to by the Lender). The Lender shall have received copies of the Related Agreements (including a consent to the collateral assignment of
rights and indemnities under the appropriate Related Agreements in favor of the Lender) certified by Administrative Borrower’s secretary or an assistant secretary (or similar officer) as being in true, accurate and complete; 

(z) Contract Review. The Lender shall have reviewed all Material Contracts of Loan Parties, including, without limitation, and to
the extent required by the Lender, leases, union contracts, labor contracts, vendor supply contracts, license agreements and distributorship agreements and such contracts and agreements shall be satisfactory in all respects to the Lender;

 (aa) Due Diligence. The Lender and its counsel shall have completed its business and legal due diligence with results
satisfactory to the Lender and its counsel, including without limitation (i) pre-funding field examination of the business and collateral of each Loan Party in accordance with the Lender’s customary procedures and practices and as
otherwise required by the nature and circumstances of the businesses of each Loan Party, (ii) favorable trade and customer references and (iii) background checks with respect to such individuals as the Lender determines issued by
investigatory firms satisfactory to the Lender; and the Lender shall be satisfied with the corporate and capital structure and management of each Loan Party’s license agreements and with all legal, tax, accounting and other matters relating to
each Loan Party; 

  
 73 

 (bb) Representations and Warranties. Each of the representations and warranties made
by any Loan Party in or pursuant to this Agreement and any Other Document to which it is a party, and each of the representations and warranties contained in any certificate, document or financial or other statement furnished at any time under or in
connection with this Agreement or any Other Document shall be true and correct in all material respects (without duplication of any materiality qualifiers already set forth therein; or in all respects with respect to representations and warranties
made on the Closing Date) on and as of such date as if made on and as of such date, except to the extent that such representations and warranties expressly relate solely to an earlier date (in which case such representations and warranties shall
have been true and correct in all material respects (without duplication of any materiality qualifiers already set forth therein) on and as of such earlier date); 
 (cc) No Default. No Event of Default or Default shall have occurred and be continuing on such date, or would exist after giving effect to the Term Loan requested to be made on the Closing Date; and

 (dd) Other. All corporate and other proceedings, and all documents, instruments and other legal matters in connection
with the transactions contemplated by this Agreement and the other Related Transactions shall be satisfactory in form and substance to the Lender and its counsel. 
 9. INFORMATION AS TO LOAN PARTIES. 
 Until all of the Obligations are Paid
in Full, each Loan Party shall: 
 9.1 Disclosure of Material Matters Pertaining to Collateral. 

Immediately upon learning thereof, report to the Lender all matters materially affecting the value, enforceability or collectability of
any portion of the Collateral including, without limitation, any Loan Party’s reclamation or repossession of, or the return to any Loan Party of, a material amount of goods or claims or disputes asserted by any Customer or other obligor.

 9.2 Collateral and Related Reports. 
 (a) Deliver to the Lender on or before the twentieth (20th) day of each calendar month (or more frequently if required by the Lender after the occurrence and during the continuance of an Event of
Default) the following reports, which shall be current as of the close of business on the last Business Day of the calendar month immediately prior to such date: 
 (i) with respect to each Loan Party’s accounts payable and expenses for the immediately preceding calendar month, a report including an accounts payable aging, accrued expenses, and listing of checks
held, together with a reconciliation to each Loan Party’s general ledger and balance sheet for such calendar month; 

  
 74 

 (ii) (A) a detailed report of accrued and other liabilities of Loan Parties as of the end
of such immediately preceding calendar month reconciled to the balance sheet for such calendar month; (B) listing of (1) past due amounts owing to owners and lessors of leased premises, warehouses, processors and other third parties from
time to time in possession of any Collateral of Loan Parties, (2) monthly rent, lease, warehouse and other amounts payable to the Persons referred to in the foregoing clause (1), and (3) cost of all Inventory and other Collateral then
located at each of the locations referred to in the foregoing clause (1); and (C) confirmation that all sales, personal property and payroll and other taxes of Loan Parties are currently paid; and 

(iii) notice of termination or breach of any Material Contract of a Loan Party or any of their Subsidiaries (A) which could
reasonably be expected to result in a Material Adverse Effect or (B) with respect to a contract in which the aggregate payments thereunder by any Loan Party or any of their Subsidiaries exceed $500,000 in any fiscal year; 

(b) Deliver to the Lender on or before the sixtieth (60th) day after the end of each the Borrowers’ fiscal years: 

(i) current certificates of insurance and loss payee endorsements for all insurance policies which Loan Parties and their Subsidiaries
are required to maintain pursuant to Section 4.10; and 
 (ii) a list of all Customers of Loan Parties owing Accounts
receivable as of the end of such fiscal year, including such Customers’ respective name, address, phone number, and e-mail address; 
 (c) Promptly, deliver to the Lender (i) current certificates of insurance and loss payee endorsements for all insurance policies which Loan Parties and their Subsidiaries are required to maintain
pursuant to Section 4.10, immediately following the renewal of each such policy and any amendments thereto; and (ii) such other reports and information as to the Collateral, Loan Parties or their Subsidiaries as the Lender shall request
from time to time in its Permitted Discretion; 
 (d) Promptly upon the occurrence thereof, deliver to the Lender notice of
termination or breach of any Material Contract of a Loan Party or any of their Subsidiaries which could reasonably be expected to result in a Material Adverse Effect; and 
 (e) All Collateral reporting which shall be provided to the Lender pursuant to this Sections 9.2 shall be delivered to the Lender electronically (or other manner reasonably satisfactory to the Lender) and
in form and substance satisfactory to the Lender. All such reports are solely for the Lender’s convenience in maintaining records of the Collateral, and any Loan Party’s failure to deliver any of such reports to the Lender shall not
affect, terminate, modify or otherwise limit the Lender’s Lien with respect to the Collateral. 
 9.3 Environmental
Reports. 
 Furnish the Lender, concurrently with the delivery of the financial statements referred to in Sections 9.7 and
9.9, with a certificate signed by a Responsible Officer of Administrative Borrower stating, to the best of such officer’s knowledge, that each Loan Party and each of their respective Subsidiaries is in compliance in all material respects with
all Environmental Laws. To the extent any Loan Party or any Subsidiary of any Loan Party is not in compliance with any Environmental Laws, the certificate shall set forth with specificity all areas of non-compliance and the proposed action such Loan
Party or Subsidiary, as applicable, will implement in order to achieve full compliance. 

  
 75 

	 	9.4	Litigation. 

 Promptly
(but in any event within five (5) Business Days thereafter) notify the Lender in writing of (or of any judgment, settlement or other material development in) any litigation, suit or administrative proceeding affecting any Loan Party or any
Subsidiary, whether or not the claim is covered by insurance, and of (or of any material development in) any suit or administrative proceeding, which in any such matter could reasonably be expected to (i) result in liability in excess of
$250,000 or (ii) have a Material Adverse Effect. 
  

	 	9.5	Material Occurrences. 

Promptly (but in any event within five (5) Business Days thereafter) notify the Lender in writing upon the occurrence of
(a) any Event of Default or Default; (b) any event, development or circumstance whereby any financial statements or other reports furnished to the Lender fail in any material respect to present fairly, in accordance with GAAP consistently
applied, the financial condition or operating results of any Loan Party or any Subsidiary of any Loan Party as of the date of such statements; (c) any accumulated retirement plan funding deficiency which, if such deficiency continued for two
(2) plan years and was not corrected as provided in Section 4971 of the Code, could subject any Loan Party or any Subsidiary of any Loan Party to a tax imposed by Section 4971 of the Code; (d) each and every default by any Loan
Party or any Subsidiary of any Loan Party which might result in the acceleration of the maturity of any Indebtedness, including the names and addresses of the holders of such Indebtedness with respect to which there is a default existing or with
respect to which the maturity has been or could be accelerated, and the amount of such Indebtedness; and (e) any other development in the business or affairs of any Loan Party or any Subsidiary of any Loan Party which could reasonably be
expected to have, either individually or in the aggregate, a Material Adverse Effect; in each case describing the nature thereof and the action Loan Parties or such Subsidiaries propose to take with respect thereto. 

 

	 	9.6	Retail Store Locations. 

Furnish the Lender, concurrently with the delivery of the financial statements referred to in Section 9.9 for each fiscal quarter
end of the Loan Parties, with a report as of such fiscal quarter end including (a) the number and location of all new Walmart or Lowes retail store locations in which the sale of any product lines of the Loan Parties was added during such
fiscal quarter, (b) the number and location of all Walmart or Lowes retail store locations in which the sale of all product lines of the Loan Parties was discontinued during such fiscal quarter and (c) the net number of retail store
locations for each of Walmart and Lowes in which any product lines of the Loan Parties are sold as of such fiscal quarter end. 

  
 76 

 9.7 Annual Financial Statements. 

Furnish the Lender within one hundred twenty (120) days after the end of each fiscal year of Loan Parties, financial statements of
Loan Parties and their Subsidiaries on a consolidated basis, including, but not limited to, statements of income and stockholders’ equity and cash flow from the beginning of the current fiscal year to the end of such fiscal year and the balance
sheet as at the end of such fiscal year, all prepared in accordance with GAAP applied on a basis consistent with prior practices, and in reasonable detail and reported upon without qualification by an independent certified public accounting firm
selected by Loan Parties and satisfactory to the Lender (the “Accountants”). The report of the Accountants shall be accompanied by (a) copies of all management letters, exception reports or similar letters or reports received by Loan
Parties or their Subsidiaries from the Accountants, and (b) a statement of the Accountants certifying that (i) they have caused this Agreement to be reviewed, and (ii) in making the examination upon which such report was based, either
no information came to their attention which to their knowledge constituted an Event of Default or a Default under this Agreement or any related agreement or, if such information came to their attention, specifying any such Default or Event of
Default, its nature, when it occurred and whether it is continuing, and such report shall contain or have appended thereto calculations which set forth Loan Parties’ compliance with the requirements or restrictions imposed by Section 7.6.
In addition, the reports shall be accompanied by a Compliance Certificate of a Responsible Officer of Administrative Borrower which shall state that, based on an examination sufficient to permit such Responsible Officer to make an informed
statement, no Default or Event of Default exists, or, if such is not the case, specifying such Default or Event of Default, its nature, when it occurred, whether it is continuing and the steps being taken by Loan Parties with respect to such event,
and such Compliance Certificate shall have appended thereto calculations which set forth Loan Parties’ compliance with the requirements or restrictions imposed by Section 7.6. 

9.8 [Reserved.] 
 9.9 Monthly Financial Statements. 
 Furnish the Lender within thirty
(30) days after the end of each month or within forty-five (45) days after the end of each month that is the end of a fiscal quarter, an unaudited balance sheet of Loan Parties and their Subsidiaries on a consolidated basis and unaudited
statements of income and stockholders’ equity and cash flow of Loan Parties and their Subsidiaries on a consolidated basis reflecting results of operations from the beginning of the fiscal year to the end of such month and for such month,
prepared on a basis consistent with prior practices and complete and correct in all material respects, subject to normal and recurring year end adjustments that individually and in the aggregate are not material to the business of Loan Parties or
their Subsidiaries. Each such balance sheet, statement of income and stockholders’ equity and statement of cash flow shall set forth a comparison of the figures for (a) the current fiscal period and the current year-to-date with the
figures for the same fiscal period and year-to-date period of the immediately preceding fiscal year and (b) the projections for such fiscal period and year-to-date period delivered pursuant to Section 5.5(b) or Section 9.12, as
applicable, and shall be accompanied by an analysis and discussion of results (including a summary, discussion and analysis of all variances from the relevant budget) prepared by senior management of Loan Parties with respect thereto, satisfactory
to the Lender. The financial statements shall be accompanied by a Compliance Certificate signed by a Responsible Officer of Administrative Borrower, which shall state that, based on an examination sufficient to permit such Responsible Officer to
make an informed statement, no Default or Event of Default exists, or, if such is not the case, specifying such Default or Event of Default, its nature, when it occurred, whether it is continuing and the steps being taken by Loan Parties with
respect to the events giving risk to such Default or Event of Default and, such Compliance Certificate shall have appended thereto calculations which set forth Loan Parties’ compliance with the requirements or restrictions imposed by
Section 7.6. Such Compliance Certificate shall also set forth a calculation of EBITDA for the preceding twelve (12) month period ending on the date of the financial statements delivered with such Compliance Certificate for purposes of
determining the applicable interest rate on the Term Loan in accordance with the Term Note. 

  
 77 

 9.10 Notices re Equity Holders; the Revolving Loan Documents. 

Furnish promptly to the Lender (a) with copies of such financial statements, reports and returns as each Loan Party and their
Subsidiaries shall send to its equity holders and (b) copies of all notices or reports sent or received by any Loan Party or any Subsidiary in connection with, along with all amendments, modifications and new documents with respect to the
Revolving Loan Documents. 
 9.11 Additional Information. 

Furnish promptly to the Lender with such additional information as the Lender shall reasonably request in order to enable the Lender to
determine whether Loan Parties are in compliance with the terms, covenants, provisions and conditions of this Agreement and the Other Documents. 
 9.12 Projected Operating Budget. 
 Furnish the Lender, no later than twenty
(20) days prior to the beginning of each Loan Party’s fiscal years, commencing with Loan Party’s fiscal year ending December 31, 2013, a month by month projected operating budget and cash flow of Loan Parties and their
Subsidiaries on a consolidated basis for such fiscal year (including an income statement for each month and a balance sheet as at the end of the last month in each fiscal quarter), such projections to be accompanied by a certificate signed by a
Responsible Officer of Administrative Borrower to the effect that such projections have been prepared in good faith on the basis of sound financial planning practice consistent with past budgets and financial statements. 

9.13 Variances From Operating Budget. 
 Furnish the Lender, concurrently with the delivery of the financial statements referred to in Section 9.7 and Section 9.9, or more frequently if requested by the Lender, a written report
summarizing all material variances from budgets submitted by Loan Parties pursuant to Section 9.12 and a discussion and analysis by management with respect to such variances. 

9.14 Notice of Governmental Body Items. 
 Furnish the Lender with prompt (and, in any event, not more than five (5) Business Days) notice of (a) any lapse or other termination of any Consent issued to any Loan Party or any Subsidiary of
any Loan Party by any Governmental Body or any other Person that is material to the operation of any Loan Party’s or such Subsidiaries’ business, (b) any refusal by any Governmental Body or any other Person to renew or extend any such
Consent; and (c) copies of any periodic or special reports filed by any Loan Party or any Subsidiary of any Loan Party with any Governmental Body or Person, if such reports indicate any material change in the business, operations, affairs or
condition of any Loan Party or any such Subsidiary, or if copies thereof are requested by the Lender, (d) copies of any material notices and other communications from any Governmental Body or Person which specifically relate to any Loan Party
or any Subsidiary of any Loan Party and (e) any federal, state, local or other income tax return of any Loan Party or Subsidiary that has been filed becoming the subject of an audit. 

  
 78 

 9.15 ERISA Notices and Requests. 

Furnish the Lender with immediate written notice in the event that (a) any Loan Party, any Subsidiary of any Loan Party or any
member of the Controlled Group knows or has reason to know that a Termination Event has occurred, together with a written statement describing such Termination Event and the action, if any, which such Loan Party, such Subsidiary of any Loan Party or
member of the Controlled Group has taken, is taking, or proposes to take with respect thereto and, when known, any action taken or threatened by the IRS, Department of Labor or PBGC with respect thereto, (b) any Loan Party, any Subsidiary of
any Loan Party or any member of the Controlled Group knows or has reason to know that a prohibited transaction (as defined in Sections 406 of ERISA and 4975 of the Code) has occurred, together with a written statement describing such transaction and
the action which such Loan Party, such Subsidiary of any Loan Party or any member of the Controlled Group has taken, is taking or proposes to take with respect thereto, (c) a funding waiver request has been filed with respect to any Title IV
Plan together with all communications received by any Loan Party, any Subsidiary of any Loan Party or any member of the Controlled Group with respect to such request, (d) any increase in the benefits of any existing Title IV Plan or the
establishment of any new Title IV Plan or the commencement of contributions to any Title IV Plan to which any Loan Party, any Subsidiary of any Loan Party or any member of the Controlled Group was not previously contributing shall occur,
(e) any Loan Party, any Subsidiary of any Loan Party or any member of the Controlled Group shall receive from the PBGC a notice of intention to terminate a Title IV Plan or to have a trustee appointed to administer a Title IV Plan, together
with copies of each such notice, (f) any Loan Party, any Subsidiary of any Loan Party or any member of the Controlled Group shall receive any favorable or unfavorable determination letter from the IRS regarding the qualification of a Title IV
Plan, together with copies of each such letter, (g) any Loan Party, any Subsidiary of any Loan Party or any member of the Controlled Group shall receive a notice regarding the imposition of withdrawal liability, together with copies of each
such notice, (h) any Loan Party, any Subsidiary of any Loan Party or any member of the Controlled Group shall fail to make a required installment or any other required payment under Section 412 of the Code on or before the due date for
such installment or payment, or (i) any Loan Party, any Subsidiary of any Loan Party or any member of the Controlled Group knows that a (i) Multiemployer Plan has been terminated, (ii) the administrator or plan sponsor of a
Multiemployer Plan intends to terminate a Multiemployer Plan, or (iii) the PBGC has instituted or will institute proceedings under Section 4042 of ERISA to terminate a Multiemployer Plan. 

9.16 Notice of Change in Management, Etc. 
 Furnish the Lender with prompt (and, in any event, not more than five (5) Business Days) notice of any person becoming after the date hereof an officer, director or member of the senior management of
any Loan Party. 

  
 79 

 9.17 Additional Documents. 

Execute and deliver to the Lender, upon request, such documents and agreements as the Lender may, from time to time, request in its
Permitted Discretion from any Loan Party to carry out the purposes, terms or conditions of this Agreement and the Other Documents. 
 10.
EVENTS OF DEFAULT. 
 The occurrence of any one or more of the following events shall constitute an “Event of
Default”: 
 10.1 Failure by any Loan Party to pay (a) the principal or interest payment when due and payable, and
(b) any other Obligations within three (3) days of when such Obligations are due and payable, whether at maturity or by reason of acceleration pursuant to the terms of this Agreement or any Other Document; 

10.2 Failure by Loan Parties to perform, keep or observe: 
 (a) any provision of Sections 4.9, 4.10, 4.14(h), 6.4, 7, 9.5(a), 9.7 or 9.9; 

(b) any provision of Sections 4.2, 9.2 (other than Sections specified in the foregoing clause (a)), 9.4, 9.5, 9.12 or 9.13, which is not
cured within five (5) days after the date thereof; provided, that, such five (5) day period shall not apply in the case of any failure to observe any such provision which is not capable of being cured at all; 

(c) any other provision of this Agreement or any provision of any Other Document (to the extent such breach is not otherwise embodied in
any other provision of this Section 10 for which a different grace or cure period is specified or which constitute an immediate Event of Default under this Agreement or the Other Documents), which is not cured within thirty (30) days after
the date thereof; provided, that, such thirty (30) day period shall not apply in the case of any failure to observe any such provision which is not capable of being cured at all; 

10.3 Any representation or warranty made or deemed made by any Loan Party in this Agreement or any Other Document or in any certificate,
document or financial or other statement furnished at any time in connection herewith or therewith shall prove to have been misleading in any material respect (without duplication of any materiality qualifiers already set forth herein) on the date
when made or deemed to have been made; 
 10.4 Except for Permitted Encumbrances, issuance of a notice of Lien, levy,
assessment, injunction or attachment against a material portion of any Loan Party’s or any Subsidiary of any Loan Party’s property which is not stayed or bonded pending appeal or lifted within thirty (30) days; 

10.5 Any judgment or judgments for payment of money are rendered or judgment Liens for payment of money filed against one or more Loan
Parties or Subsidiaries of Loan Parties for an amount, individually or in the aggregate (to the extent not covered by independent third party insurance where the insurer has not denied or disputed coverage in writing), in excess of $1,000,000, which
within thirty (30) days of such rendering or filing is not either satisfied, stayed or discharged of record; or any action is taken to enforce any Lien over the assets of any Loan Party (or any analogous procedure or step is taken in any
jurisdiction) for an amount, individually or in the aggregate, in excess of $1,000,000; 

  
 80 

 10.6 Any Loan Party or any Subsidiary of any Loan Party shall (a) apply for, consent to
or suffer the appointment of, or the taking of possession by, a receiver, custodian, trustee, liquidator or similar fiduciary of itself or of all or a substantial part of its property, (b) admit in writing its inability, or be generally unable,
to pay its debts as they become due or cease operations of its present business, (c) make a general assignment for the benefit of creditors, (d) commence a voluntary case under any state, federal or other bankruptcy laws (as now or
hereafter in effect), (e) be adjudicated a bankrupt or insolvent, (f) file a petition seeking to take advantage of any other law providing for the relief of debtors, (g) acquiesce to, or fail to have dismissed, within forty-five
(45) days, any petition filed against it in any involuntary case under such bankruptcy laws, or (h) take any action for the purpose of effecting any of the foregoing; 

10.7 Any Lien created hereunder or provided for hereby or under any Other Document in any Collateral having a value in excess of $750,000
for any reason ceases to be or is not a valid and perfected Lien having a first priority interest (except with respect to the Revolving Loan Priority Collateral (subject to the Intercreditor Agreement) and except for Permitted Encumbrances and as
otherwise expressly permitted herein); 
 10.8 Any default under (a) any of the Revolving Loan Documents, which default
continues for more than the applicable cure period, if any, with respect thereto, or (b) any other documents, instruments or agreements to which any Loan Party, any Subsidiary or any Loan Party is a party or by which any of its properties is
bound, relating to any Indebtedness (other than the Obligations) individually or in aggregate in excess of $500,000, which default continues for more than the applicable cure period, if any, with respect thereto; 

10.9 Any of the Obligations for any reason shall cease to be permitted debt under the Revolving Loan Documents; 

10.10 Any Change of Control shall occur; 
 10.11 Any material provision hereof or of any of the Other Documents (other than provisions relating to the creation, validity or perfection of a Lien) shall for any reason cease to be valid, binding and
enforceable with respect to any Loan Party hereto or thereto in accordance with its terms, or any such Loan Party shall challenge the enforceability hereof or thereof, or shall assert in writing, or take any action or fail to take any action based
on the assertion that any material provision hereof or of any of the Other Documents (other than provisions relating to the creation, validity or perfection of a Lien) has ceased to be or is otherwise not valid, binding or enforceable in accordance
with its terms; 
 10.12 The indictment by any Governmental Body of any Loan Party or any Subsidiary of any Loan Party of which
any Loan Party, such Subsidiary or the Lender receives notice, in either case, as to which there is a reasonable possibility of an adverse determination, in the good faith determination of the Lender, under any criminal statute, or commencement or
threatened commencement of criminal proceedings against such Loan Party or such Subsidiary, pursuant to which criminal statute or proceedings the penalties or remedies sought or available include forfeiture of (a) any of the Collateral having a
value in excess of $500,000 or (b) any other property of any Borrower, or of Loan Parties and their Subsidiaries taken as a whole, which is necessary or material to the conduct of any Borrower’s business or Loan Parties and their
Subsidiaries taken as a whole; 

  
 81 

 10.13 Any material portion of the Collateral shall be seized or taken by a Governmental
Body, or any Loan Party or the title and rights of any Loan Party in and to any material portion of the Collateral shall have become the subject matter of litigation which might, in the opinion of the Lender, upon final determination, result in
impairment or loss of the security provided by this Agreement or the Other Documents; 
 10.14 The operations of any Loan
Party’s or any Subsidiary’s facilities is interrupted in any material respect by virtue of any determination, ruling, decision, decree or order of any court or Governmental Authority of competent jurisdiction, and such interruption could
reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect; 
 10.15 An event or
condition specified in Section 7.16 or Section 9.15 shall occur or exist with respect to any Plan and, as a result of such event or condition, together with all other such events or conditions, any Loan Party or any member of the
Controlled Group shall incur a liability to a Plan or the PBGC (or both) in excess of $500,000; or 
 10.17 Any Business
Reduction Event shall occur. 
 11. LENDER’S RIGHTS AND REMEDIES AFTER EVENT OF DEFAULT. 

11.1 Rights and Remedies. 
 (a) Upon the occurrence of (i) an Event of Default pursuant to Section 10.6, all Obligations shall be immediately due and payable and this Agreement shall be deemed terminated, and (ii) any
of the other Events of Default and at any time thereafter, the Lender may declare that all or any portion of the Obligations shall be immediately due and payable and the Lender shall have the right to terminate this Agreement. Upon the occurrence
and during the continuance of any Event of Default, the Lender shall have the right to exercise any and all other rights and remedies provided for herein, under the UCC, the PPSA and at law or equity generally, including, without limitation, the
right to foreclose the Liens granted herein and in the Other Documents and to realize upon any Collateral by any available judicial procedure and/or to take possession of and sell any or all of the Collateral with or without judicial process. The
Lender may enter any Loan Party’s premises or other premises without legal process and without incurring liability to any Loan Party therefor, and the Lender may thereupon, or at any time thereafter, in its discretion, without notice or demand,
take the Collateral and remove the same to such place as the Lender may deem advisable and the Lender may require Loan Parties to make the Collateral available to the Lender at a convenient place. With or without having the Collateral at the time or
place of sale, the Lender may sell the Collateral, or any part thereof, at public or private sale, at any time or place, in one or more sales, at such price or prices, and upon such terms, either for cash, credit or future delivery, as the Lender
may elect. Except as to that part of the Collateral which is perishable or threatens to decline speedily in value or is of a type customarily sold on a recognized market, the Lender shall give Loan Parties reasonable notification of such sale or
sales, it being agreed that in all events written notice mailed to Loan Parties at least ten (10) days prior to such sale or sales is reasonable notification. At any public sale the Lender may bid for and become the purchaser, and the Lender or
any other purchaser at any such sale thereafter shall hold the Collateral sold absolutely free from any claim or right of whatsoever kind, including any equity of redemption and such right and equity are hereby expressly waived and released by each
Loan Party. The Lender may specifically disclaim any warranties of title or the like at any sale of Collateral. In connection with the exercise of the foregoing remedies, the Lender shall have the right to use all of each Loan Party’s
Intellectual Property and other proprietary rights (subject to any licenses and other usage rights therein granted in favor of other Persons) which are used in connection with (A) Inventory for the purpose of disposing of such Inventory and
(B) Equipment for the purpose of completing the manufacture of unfinished goods, in each case without any obligation to compensate any Loan Party therefor. 

  
 82 

 (b) The Lender may seek the appointment of a receiver, interim receiver, manager or receiver
and manager (a “Receiver”) under the laws of Canada or any province thereof to take possession of all or any portion of the Collateral of Canadian Guarantor or to operate same and, to the maximum extent permitted by law, may seek the
appointment of such a Receiver without the requirement of prior notice or a hearing. Any such Receiver shall, to the extent permitted by law, so far as concerns responsibility for his/her acts, be deemed agent of Canadian Guarantor and not the
Lender, and the Lender shall not be in any way responsible for any misconduct, negligence or non-feasance on the part of any such Receiver, his/her servants or employees, absent the gross negligence or willful misconduct of the Lender as determined
pursuant to a final, non-appealable order of a court of competent jurisdiction. Subject to the provisions of the instrument appointing him/her, any such Receiver shall have power to take possession of Collateral of Canadian Guarantor, to preserve
Collateral of Canadian Guarantor or its value, to carry on or concur in carrying on all or any part of the business of such Loan Party and to sell, lease, license or otherwise dispose of or concur in selling, leasing, licensing or otherwise
disposing of Collateral of Canadian Guarantor. To facilitate the foregoing powers, any such Receiver may, to the exclusion of all others, including Canadian Guarantor, enter upon, use and occupy all premises owned or occupied by Canadian Guarantor
wherein Collateral of Canadian Guarantor may be situated, maintain Collateral of Canadian Guarantor upon such premises, borrow money on a secured or unsecured basis and use Collateral of Canadian Guarantor directly in carrying on Canadian
Guarantor’s business or as security for loans or advances to enable the Receiver to carry on Canadian Guarantor’s business or otherwise, as such Receiver shall, in its discretion, determine. Except as may be otherwise directed by the
Lender, all money received from time to time by such Receiver in carrying out his/her appointment shall be received in trust for and paid over to the Lender. Every such Receiver may, in the discretion of the Lender, be vested with all or any of the
rights and powers of the Lender. The Lender may, either directly or through its nominees, exercise any or all powers and rights given to a Receiver by virtue of the foregoing provisions of this paragraph. 

(c) The Lender may execute any of its rights and remedies under this Agreement by or through agents, employees or attorneys-in-fact and
shall be entitled to advice of counsel and other consultants or experts concerning all matters pertaining to such rights and remedies. The Lender shall not be responsible for the negligence or misconduct of any agents or attorneys-in-fact selected
by the Lender with reasonable care absent the gross (not mere) negligence or willful misconduct of the Agent or the Lenders as determined pursuant to a final, non-appealable order of a court of competent jurisdiction. The Lender may also from time
to time, when the Lender deems it to be necessary or desirable, appoint one or more trustees, co-trustees, collateral co-agents, collateral subagents or attorneys-in-fact (each, a “Subagent”) with respect to all or any part of the
Collateral of the Canadian Guarantor; provided, that, no such Subagent shall be authorized to take any action with respect to any such Collateral unless and except to the extent expressly authorized in writing by the Lender. Should any
instrument in writing from the Lender be required by any Subagent so appointed by the Lender to more fully or certainly vest in and confirm to such Subagent such rights, powers, privileges and duties, the Canadian Guarantor shall execute,
acknowledge and deliver any and all such instruments promptly upon request by the Lender. If any Subagent, or successor thereto, shall die, become incapable of acting, resign or be removed, all rights, powers, privileges and duties of such Subagent,
to the extent permitted by law, shall automatically vest in and be exercised by the Lender until the appointment of a new Subagent. The Lender shall not be responsible for the negligence or misconduct of any agent, attorney-in-fact or Subagent that
it selects in accordance with the foregoing provisions of this Section in the absence of the Lender’s gross (not mere) negligence or willful misconduct as determined pursuant to a final, non-appealable order of a court of competent jurisdiction
(but such agent, attorney-in-fact or Subagent may be responsible for their own gross (not mere) negligence or willful misconduct as determined pursuant to a final, non-appealable order of a court of competent jurisdiction). 

  
 83 

 11.2 Waterfall. 

(a) At any time that a Waterfall Event has occurred and is continuing, all payments remitted to the Lender and all proceeds of Collateral
received by the Lender shall be applied to the Obligations as follows: first, to the Obligations consisting of costs and expenses (including attorneys’ fees and expenses) incurred by the Lender in connection with this Agreement or
any Other Document; second, to interest due to the Lender upon the Term Loan and to the Obligations consisting of costs and expenses (including attorneys’ fees and expenses) incurred by the Lender in connection with this Agreement
or any Other Document until paid in full; third, to fees due to the Lender, if any, in connection with this Agreement or any Other Document until paid in full; fourth, to the principal of the Term Loan made by the Lender
until paid in full; and fifth, pro rata to any other Obligations until paid in full. 
 (b) If any deficiency
shall arise, Loan Parties shall remain liable to the Lender therefor. If it is determined by an authority of competent jurisdiction that a disposition by the Lender did not occur in a commercially reasonably manner, the Lender may obtain a
deficiency judgment for the difference between the amount of the Obligation and the amount that a commercially reasonable sale would have yielded. The Lender will not be considered to have offered to retain the Collateral in satisfaction of the
Obligations unless the Lender has entered into a written agreement with Loan Party to that effect. 
 11.3 Lender’s
Discretion. 
 The Lender shall have the right in its Permitted Discretion to determine which rights, Liens or remedies the
Lender may at any time pursue, relinquish, subordinate, or modify or to take any other action with respect thereto and such determination will not in any way modify or affect any of the Lender’s rights hereunder. 

11.4 Setoff. 
 In addition to any other rights and remedies which the Lender may have under applicable law, this Agreement or any Other Document, upon the occurrence and during the continuance of an Event of Default
hereunder, the Lender and its Affiliates shall have a right to setoff and apply any Loan Party’s property held by the Lender or such Affiliate to reduce the Obligations, all without notice to Loan Parties. 

  
 84 

 11.5 Rights and Remedies not Exclusive. 

The enumeration of the foregoing rights and remedies is not intended to be exhaustive and the exercise of any right or remedy shall not
preclude the exercise of any other right or remedies provided for herein or otherwise provided by law, all of which shall be cumulative and not alternative. 
 11.6 Commercial Reasonableness. 
 To the extent that applicable law imposes
duties on the Lender to exercise remedies in a commercially reasonable manner (which duties cannot be waived under such law), each Loan Party acknowledges and agrees that it is not commercially unreasonable for the Lender (a) to fail to incur
expenses reasonably deemed necessary or appropriate by the Lender to prepare Collateral for disposition or otherwise to complete raw material or work in process into finished goods or other finished products for disposition, (b) to fail to
obtain third party consents for access to Collateral to be disposed of, or to obtain or, if not required by other law, to fail to obtain consents of any Governmental Body or other third party for the collection or disposition of Collateral to be
collected or disposed of, (c) to fail to exercise collection remedies against account debtors, secondary obligors or other Persons obligated on Collateral or to remove Liens or encumbrances on or any adverse claims against Collateral,
(d) to exercise collection remedies against account debtors and other Persons obligated on Collateral directly or through the use of collection agencies and other collection specialists, (e) to advertise dispositions of Collateral through
publications or media of general circulation, whether or not the Collateral is of a specialized nature, (f) to contact other Persons, whether or not in the same business as any Loan Party, for expressions of interest in acquiring all or any
portion of the Collateral, (g) to hire one or more professional auctioneers to assist in the disposition of Collateral, whether or not the collateral is of a specialized nature, (h) to dispose of Collateral by utilizing Internet sites that
provide for the auction of assets of the types included in the Collateral or that have the reasonable capability of doing so, or that match buyers and sellers of assets, (i) to dispose of assets in wholesale rather than retail markets,
(j) to disclaim disposition warranties, (k) to purchase insurance or credit enhancements to insure the Lender against risks of loss, collection or disposition of Collateral or to provide to the Lender a guaranteed return from the
collection or disposition of Collateral, or (l) to the extent deemed appropriate by the Lender, to obtain the services of other brokers, investment bankers, consultants and other professionals to assist the Lender in the collection or
disposition of any of the Collateral. Each Loan Party acknowledges that the purpose of this Section is to provide non-exhaustive indications of what actions or omissions by the Lender would not be commercially unreasonable in the exercise by the
Lender of remedies against the Collateral and that other actions or omissions by the Lender shall not be deemed commercially unreasonable solely on account of not being indicated in this Section. Without limitation of the foregoing, nothing
contained in this Section shall be construed to grant any rights to any Loan Party or to impose any duties on the Lender that would not have been granted or imposed by this Agreement or by applicable law in the absence of this Section. 

  
 85 

 12. WAIVERS AND JUDICIAL PROCEEDINGS. 

12.1 Waiver of Notice. 
 Each Loan Party hereby waives notice of non-payment of any of the Receivables, demand, presentment, protest and notice thereof with respect to any and all instruments, notice of acceptance hereof, notice
of loans or advances made, credit extended, Collateral received or delivered, or any other action taken in reliance hereon, and all other demands and notices of any description, except such as are expressly provided for herein or as otherwise by
law. 
 12.2 Delay. 
 No delay or omission on the Lender’s part in exercising any right, remedy or option shall operate as a waiver of such or any other right, remedy or option or of any Default or Event of Default.

 12.3 Jury Waiver. 
 EACH PARTY TO THIS AGREEMENT HEREBY EXPRESSLY WAIVES ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION OR CAUSE OF ACTION (A) ARISING UNDER THIS AGREEMENT OR ANY OTHER DOCUMENT, OR (B) IN
ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO OR ANY OF THEM WITH RESPECT TO THIS AGREEMENT OR ANY OTHER DOCUMENT, OR THE TRANSACTIONS RELATED HERETO OR THERETO IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER
ARISING, AND WHETHER SOUNDING IN CONTRACT OR TORT OR OTHERWISE AND EACH PARTY HEREBY CONSENTS THAT ANY SUCH CLAIM, DEMAND, ACTION OR CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY, AND THAT ANY PARTY TO THIS AGREEMENT MAY FILE AN
ORIGINAL COUNTERPART OR A COPY OF THIS SECTION WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENTS OF THE PARTIES HERETO TO THE WAIVER OF THEIR RIGHT TO TRIAL BY JURY. 
 12.4 Waiver of Counterclaims. 
 Each Loan Party waives all rights to
interpose any claims, deductions, setoffs or counterclaims of any nature (other then compulsory counterclaims) in any action or proceeding with respect to this Agreement, the Obligations, the Collateral or any matter arising therefrom or relating
hereto or thereto. 
 13. EFFECTIVE DATE AND TERMINATION. 
 13.1 Term. 
 This Agreement, which shall inure to the benefit of and shall
be binding upon the respective successors and permitted assigns of each Loan Party and the Lender, shall become effective on the date hereof and shall continue in full force and effect until the earliest of (a) April 30, 2016 (the
“Original Term”), (b) the acceleration of all Obligations pursuant to the terms of this Agreement or (c) the date on which this Agreement shall be terminated in accordance with the provisions hereof or by operation of law (the
“Termination Date”). 

  
 86 

 13.2 Termination. 

The termination of the Agreement shall not affect any Loan Party’s or the Lender’s rights, or any of the Obligations arising or
incurred prior to the effective date of such termination, and each of the provisions of this Agreement and of the Other Documents shall continue to be fully operative until all of the Obligations have been Paid in Full. The Liens and rights granted
to the Lender hereunder and the financing statements filed hereunder shall continue in full force and effect, notwithstanding the termination of this Agreement or the fact that the Borrowers’ Account may from time to time be temporarily in a
zero or credit position, until all of the Obligations have been Paid in Full. Accordingly, each Loan Party waives any rights which it may have under Section 9-513 of the UCC to demand the filing of termination statements with respect to the
Collateral, and the Lender shall not be required to send such termination statements to each Loan Party, or to file them with any filing office, until all of the Obligations have been Paid in Full. All representations, warranties, covenants, waivers
and agreements contained herein and in the Other Documents shall survive termination hereof until all of the Obligations have been Paid in Full. 
 14. RESERVED. 
 15. GUARANTEE. 

15.1 Guarantee; Contribution Rights. 
 Each Guarantor hereby unconditionally guarantees, as a primary obligor and not merely as a surety, jointly and severally with each other Guarantor when and as due, whether at maturity, by acceleration, by
notice of prepayment or otherwise, the due (whether at the stated maturity, by acceleration or otherwise) and punctual performance of all Obligations. Each payment made by any Guarantor pursuant to this Guarantee shall be made in lawful money of the
United States in immediately available funds without offset, counterclaim or deduction of any kind. 
 Anything herein this
Section 15 to the contrary notwithstanding, the maximum liability of each Guarantor this Section 15 shall in no event exceed the amount which can be guaranteed by such Guarantor under applicable federal and state laws relating to the
insolvency of debtors (after giving effect to the right of contribution established in the following paragraph). It being understood that no amendments or other modifications to any of the Loan Documents need to be made to implement the provisions
of this paragraph and instead the implementation of the provisions of this paragraph shall occur automatically. 
 Each
Guarantor hereby agrees that to the extent that a Guarantor shall have paid more than its proportionate share of any payment made hereunder, such Guarantor shall be entitled to seek and receive contribution from and against any other Guarantor
hereunder which has not paid its proportionate share of such payment. Each Guarantor’s right of contribution shall be subject to the terms and conditions of Section 15.9(d). The provisions of this paragraph shall in no respect limit the
obligations and liabilities of any Guarantor to the Lender, and each Guarantor shall remain liable to the Lender for the full amount guaranteed by such Guarantor hereunder. 

  
 87 

 15.2 Waivers. 

Each Guarantor hereby absolutely, unconditionally and irrevocably waives (a) promptness, diligence, notice of acceptance, notice of
presentment of payment and any other notice hereunder, (b) demand of payment, protest, notice of dishonor or nonpayment, notice of the present and future amount of the Obligations and any other notice with respect to the Obligations,
(c) any requirement that the Lender protect, secure, perfect or insure any Lien or any property subject thereto or exhaust any right or take any action against any other Loan Party, or any Person or any Collateral, (d) any other action,
event or precondition to the enforcement hereof or the performance by each such Guarantor of the Obligations, (e) any defense arising by any lack of capacity or authority or any other defense of any Loan Party or any notice, demand or defense
by reason of cessation from any cause of Obligations other than Payment in Full of all of the Obligations, (f) any defense that any other guarantee or security was or was to be obtained by the Lender, and (g) any other defense. 

15.3 No Defense. 
 No invalidity, irregularity, voidableness, voidness or unenforceability of this Agreement or any Other Document or any other agreement or instrument relating thereto, or of all or any part of the
Obligations or of any collateral security therefor shall affect, impair or be a defense hereunder. 
 15.4 Guarantee of
Payment. 
 The Guarantee hereunder is one of payment and performance, not collection, and the obligations of each Guarantor
hereunder are independent of the Obligations of the other Loan Parties, and a separate action or actions may be brought and prosecuted against any Guarantor to enforce the terms and conditions of this Section 15, irrespective of whether any
action is brought against any other Loan Party or other Persons or whether any other Loan Party or other Persons are joined in any such action or actions. Each Guarantor waives any right to require that any resort be had by the Lender to any
security held for payment of the Obligations or to any balance of any deposit account or credit on the books of the Lender in favor of any Loan Party or any other Person. No election to proceed in one form of action or proceedings, or against any
Person, or on any Obligations, shall constitute a waiver of the Lender’s right to proceed in any other form of action or proceeding or against any other Person unless the Lender has expressed any such right in writing. Without limiting the
generality of the foregoing, no action or proceeding by the Lender against any Loan Party under any document evidencing or securing Indebtedness of any Loan Party to the Lender shall diminish the liability of any Guarantor hereunder, except to the
extent the Lender receives actual payment on account of Obligations by such action or proceeding, notwithstanding the effect of any such election, action or proceeding upon the right of subrogation of any Guarantor in respect of any Loan Party
and/or otherwise. 
 15.5 Liabilities Absolute. 
 The liability of each Guarantor hereunder shall be absolute, unlimited and unconditional and shall not be subject to any reduction, limitation, impairment, discharge or termination for any reason,
including, without limitation, any claim of waiver, release, surrender, alteration or compromise, and shall not be subject to any claim, defense or setoff, counterclaim, recoupment or termination whatsoever by reason of the invalidity, illegality or
unenforceability of any Obligation or otherwise. Without limiting the generality of the foregoing, the obligations of each Guarantor shall not be discharged or impaired, released, limited or otherwise affected by: 

  
 88 

 (a) any change in the manner, place or terms of payment or performance, and/or any change or
extension of the time of payment or performance of, release, renewal or alteration of, or any new agreements relating to any Obligation, any security therefor, or any liability incurred directly or indirectly in respect thereof, or any rescission
of, or amendment, waiver or other modification of, or any consent to departure from, this Agreement or any Other Document, including any increase in the Obligations resulting from the extension of additional credit to the Borrowers or otherwise;

 (b) any sale, exchange, release, surrender, loss, abandonment, realization upon any property by whomsoever at any time
pledged or mortgaged to secure, or howsoever securing, all or any of the Obligations, and/or any offset there against, or failure to perfect, or continue the perfection of, any Lien in any such property, or delay in the perfection of any such Lien,
or any amendment or waiver of or consent to departure from any other guarantee for all or any of the Obligations; 
 (c) the
failure of the Lender to assert any claim or demand or to enforce any right or remedy against the Borrowers or any other Loan Party or any other Person under the provisions of this Agreement or any Other Document or any other document or instrument
executed and delivered in connection herewith or therewith; 
 (d) any settlement or compromise of any Obligation, any security
therefor or any liability (including any of those hereunder) incurred directly or indirectly in respect thereof or hereof, and any subordination of the payment of all or any part thereof to the payment of any obligation (whether due or not) of any
Loan Party to creditors of any Loan Party other than any other Loan Party; 
 (e) any manner of application of Collateral, or
proceeds thereof, to all or any of the Obligations, or any manner of sale or other disposition of any Collateral for all or any of the Obligations or any other assets of any Loan Party; and 

(f) any other agreements or circumstance of any nature whatsoever that may or might in any manner or to any extent vary the risk of any
Guarantor, or that might otherwise at law or in equity constitute a defense available to, or a discharge of, the Guarantee hereunder and/or the obligations of any Guarantor, or a defense to, or discharge of, any Loan Party or any other Person or
party hereto or the Obligations or otherwise with respect to the Term Loan or other financial accommodations to the Borrowers pursuant to this Agreement and/or the Other Documents or otherwise. 

15.6 Waiver of Notice. 
 Except as otherwise contemplated hereunder, the Lender shall have the right to do any of the above without notice to or the consent of any Guarantor and each Guarantor expressly waives any right to notice
of, consent to, knowledge of and participation in any agreements relating to any of the above or any other present or future event relating to Obligations whether under this Agreement or otherwise or any right to challenge or question any of the
above and waives any defenses of such Guarantor which might arise as a result of such actions. 

  
 89 

 15.7 Lender’s Discretion. 

The Lender may at any time and from time to time (whether prior to or after the revocation or termination of this Agreement) without the
consent of, or notice to, any Guarantor, and without incurring responsibility to any Guarantor or impairing or releasing the Obligations, apply any sums by whomsoever paid or howsoever realized to any Obligations regardless of what Obligations
remain unpaid. 
 15.8 Reinstatement. 
 The Guarantee provisions herein contained shall continue to be effective or be reinstated, as the case may be, if claim is ever made upon the Lender for repayment or recovery of any amount or amounts
received by the Lender in payment or on account of any of the Obligations and the Lender repays all or part of said amount for any reason whatsoever, including, without limitation, by reason of any judgment, decree or order of any court or
administrative body having jurisdiction over the Lender or the respective property of each, or any settlement or compromise of any claim effected by the Lender with any such claimant (including any Loan Party); and in such event each Guarantor
hereby agrees that any such judgment, decree, order, settlement or compromise or other circumstances shall be binding upon such Guarantor, notwithstanding any revocation hereof or the cancellation of any note or other instrument evidencing any
Obligation, and each Guarantor shall be and remain liable to the Lender for the amount so repaid or recovered to the same extent as if such amount had never originally been received by the Lender. 

15.9 No Marshalling, Etc. 
 (a) The Lender shall not be required to marshal any assets in favor of any Guarantor, or against or in payment of Obligations. 
 (b) No Guarantor shall be entitled to claim against any present or future security held by the Lender from any Person for Obligations in priority to or equally with any claim of the Lender, or assert any
claim for any liability of any Loan Party to any Guarantor in priority to or equally with claims of the Lender for Obligations, and no Guarantor shall be entitled to compete with the Lender with respect to, or to advance any equal or prior claim to
any security held by the Lender for Obligations. 
 (c) If any Loan Party makes any payment to the Lender, which payment is
wholly or partly subsequently invalidated, declared to be fraudulent or preferential, set aside or required to be repaid to any Person under any federal or provincial or other statute or at common law or under equitable principles, then to the
extent of such payment, the Obligation intended to be paid shall be revived and continued in full force and effect as if the payment had not been made, and the resulting revived Obligation shall continue to be guaranteed, uninterrupted, by each
Guarantor hereunder. 
 (d) All present and future monies payable by any Loan Party or any other Guarantor to any Guarantor,
whether arising out of a right of subrogation, contribution or otherwise, are assigned to the Lender as security for such Guarantor’s liability to the Lender hereunder and are postponed and subordinated to the Lender’s prior right to
Payment in Full of all of the Obligations. Except to the extent prohibited otherwise by this Agreement, all monies received by any Guarantor from any Loan Party shall be held by such Guarantor as agent and trustee for the Lender. This assignment,
postponement and subordination shall only terminate when all of the Obligations are Paid in Full. 

  
 90 

 (e) Each Loan Party acknowledges this assignment, postponement and subordination and, except
as otherwise set forth herein, agrees to make no payments to any Guarantor without the prior written consent of the Lender. Each Loan Party agrees to give full effect to the provisions hereof. 

15.10 Action Upon Event of Default. 
 Upon the occurrence and during the continuance of any Event of Default, the Lender may, without notice to or demand upon any Loan Party, any Guarantor or any other Person, declare all or any portion of
the Obligations of such Guarantor hereunder immediately due and payable, and shall be entitled to enforce the Obligations of each Guarantor. Upon such declaration by the Lender, the Lender and any of its Affiliates are hereby authorized at any time
and from time to time to set off and apply any and all deposits (general or special, time or demand, provisional or final) at any time held and other Indebtedness at any time owing by the Lender to or for the credit or the account of any Guarantor
against any and all of the Obligations of each Guarantor now or hereafter existing hereunder in accordance with the terms of this Agreement, whether or not the Lender shall have made any demand hereunder against any other Loan Party and although
such Obligations may be contingent and unmatured. The rights of the Lender hereunder are in addition to other rights and remedies (including other rights of set-off) which the Lender may have. Upon such declaration by the Lender, with respect to any
claims (other than those claims referred to in the immediately preceding paragraph) of any Guarantor against any Loan Party (the “Claims”), the Lender shall have the full right on the part of the Lender in its own name or in the name of
such Guarantor to collect and enforce such Claims by legal action, proof of debt in bankruptcy or other liquidation proceedings, vote in any proceeding for the arrangement of debts at any time proposed, or otherwise, the Lender and each of its
officers being hereby irrevocably constituted attorneys-in-fact for each Guarantor for the purpose of such enforcement and for the purpose of endorsing in the name of each Guarantor any instrument for the payment of money. Each Guarantor will
receive as trustee for the Lender and will pay to the Lender forthwith upon receipt thereof any amounts which such Guarantor may receive from any Loan Party on account of the Claims. Each Guarantor agrees that at no time hereafter will any of the
Claims be represented by any notes or other negotiable instruments or writings, except and in such event they shall either be made payable to the Lender, or if payable to any Guarantor, shall forthwith be endorsed by such Guarantor to the Lender.
Each Guarantor agrees that no payment on account of the Claims or any Lien therein shall be created, received, accepted or retained during the continuance of any Event of Default nor shall any financing statement be filed with respect thereto by any
Guarantor. 
 15.11 Statute of Limitations. 
 Any acknowledgment or new promise, whether by payment of principal or interest or otherwise and whether by any Loan Party or others (including the Lender) with respect to any of the Obligations shall, if
the statute of limitations in favor of any Guarantor against the Lender shall have commenced to run, toll the running of such statute of limitations and, if the period of such statute of limitations shall have expired, prevent the operation of such
statute of limitations. 

  
 91 

 15.12 Interest. 

All amounts due, owing and unpaid from time to time by any Guarantor hereunder shall bear interest at the interest rate per annum then
chargeable with respect to the Term Loan. 
 15.13 Guarantor’s Investigation. 

Each Guarantor acknowledges receipt of a copy of each of this Agreement and the Other Documents. Each Guarantor has made an independent
investigation of Loan Parties and of the financial condition of Loan Parties. The Lender has not made, and the Lender does not hereby make, (a) any representations or warranties as to the income, expense, operation, finances or any other matter
or thing affecting any Loan Party, or (b) any representations or warranties as to the amount or nature of the Obligations of any Loan Party to which this Section 15 applies as specifically herein set forth. Neither the Lender nor any
officer, agent or employee of the Lender or any representative thereof, has made any other oral representations, agreements or commitments of any kind or nature, and each Guarantor hereby expressly acknowledges that no such representations or
warranties have been made and such Guarantor expressly disclaims reliance on any such representations or warranties. 
 15.14
Termination of Guarantee. 
 Subject to reinstatement as provided in Section 15.8, the provisions of this
Section 15 shall remain in effect until all of Obligations have been Paid in Full. 
 15.15 Extension of Guarantee.

 Without prejudice to the generality of this Section 15, each Guarantor expressly confirms that it intends that the
guarantee provided in this Section 15 shall extend from time to time to any (however fundamental) variation, increase, extension or addition of or to any of the provisions of this Agreement or any Other Document and/or any facility or amount
made available hereunder or thereunder. 
 15.16 Applicability to Borrowers. 

Without limiting any of any Borrower’s obligations under this Agreement or any Other Document, each Borrower shall also be
considered a Guarantor for purposes of this Section 15 to the extent such Borrower is not directly and primarily obligated with respect to the Obligations. 

  
 92 

 16. MISCELLANEOUS. 
 16.1 Governing Law; Consent to Jurisdiction; Etc. 
 This Agreement shall be
governed by and construed in accordance with the laws of the State of New York applied to contracts to be performed wholly within the State of New York, without regard to conflicts of laws principles; provided, that the exercise of any rights
and remedies with respect to the Collateral of the Canadian Guarantor shall be governed by and construed in accordance with the laws of the Province of British Columbia and the federal laws of Canada applicable thereto. Any judicial proceeding
brought by or against any Loan Party with respect to any of the Obligations, this Agreement or any Other Document may be brought in any court of competent jurisdiction located in the County and State of New York, United States of America, and, by
execution and delivery of this Agreement, each Loan Party accepts for itself and in connection with its properties, generally and unconditionally, the non-exclusive jurisdiction of the aforesaid courts, and irrevocably agrees to be bound by any
judgment rendered thereby in connection with this Agreement. Each Loan Party hereby waives personal service of any and all process upon it and consents that all such service of process may be made by registered mail (return receipt requested)
directed to Administrative Borrower (on behalf of the Borrowers) at its address set forth in Section 16.6 and service so made shall be deemed completed five (5) days after the same shall have been so deposited in the mails of the United
States of America, or, at the Lender’s option, by service upon Administrative Borrower (on behalf of the Borrowers) which each Loan Party irrevocably appoints as such Loan Party’s agent for the purpose of accepting service within the State
of New York. Nothing herein shall affect the right to serve process in any manner permitted by law or shall limit the right of the Lender to bring proceedings against any Loan Party in the courts of any other jurisdiction. Each Loan Party waives any
objection to jurisdiction and venue of any action instituted hereunder and shall not assert any defense based on lack of jurisdiction or venue or based upon forum non conveniens. Any judicial proceeding by any Loan Party against the Lender
involving, directly or indirectly, any matter or claim in any way arising out of, related to or connected with this Agreement or any Other Document (except to the extent, if any, expressly provided otherwise in any Other Document), shall be brought
only in a federal or state court located in the City of New York, State of New York. 
 16.2 Entire Understanding;
Amendments. 
 (a) This Agreement and the Other Documents executed concurrently herewith or on or after the Closing Date
contain the entire understanding between each Loan Party and the Lender and supersedes all prior agreements and understandings, if any, relating to the subject matter hereof or thereof. Any promises, representations, warranties or guarantees of the
Lender to any Loan Party not herein contained or not contained in any Other Document executed on or after the Closing Date shall have no force and effect. Neither this Agreement nor any portion or provisions hereof may be changed, modified, amended,
waived, supplemented, discharged, cancelled or terminated orally or by any course of dealing, or in any manner other than by an agreement in writing pursuant to clause (b) below. Any Default or Event of Default that occurs hereunder shall
continue unless and until expressly waived in writing pursuant to clause (b) below. Each Loan Party acknowledges that it has been advised by counsel in connection with the execution of this Agreement and Other Documents and is not relying upon
oral representations or statements inconsistent with the terms and provisions of this Agreement. 
 (b) Neither any amendment,
modification or waiver of any provision of this Agreement, the Term Note, or any Other Document, nor any consent to any departure by any Loan Party therefrom, shall in any event be effective unless the same shall be set forth in writing duly signed
or acknowledged by the Lender and all parties to such Other Document, and then such amendment, waiver or consent shall be effective only in the specific instance, and for the specific purpose, for which given. No notice to or demand on any Loan
Party in any instance shall entitle any Loan Party to any other or future notice or demand in the same, similar or other circumstances. 

  
 93 

 16.3 Successors and Assigns; Participations; New Lenders; Taxes. 

(a) This Agreement and the Other Documents shall be binding upon and inure to the benefit of each Loan Party and the Lender, all future
holders of the Obligations and their respective successors and assigns; except, that, no Loan Party may assign or transfer any of its rights or obligations under this Agreement or any Other Document (other than pursuant to a merger or
consolidation of Loan Parties permitted hereunder) without the prior written consent of the Lender. 
 (b) Anything in this
Agreement or any Other Document to the contrary notwithstanding, the Lender may, at any time and from time to time, without in any manner affecting or impairing the validity of any Obligations, sell to one or more Persons participating interests in
its Term Loan and/or other interests hereunder and/or under any Other Document (any such Person, a “Participant”). In the event of a sale by the Lender of a participating interest to a Participant, (a) the Lender’s obligations
hereunder and under the Other Documents shall remain unchanged for all purposes, (b) Loan Parties and the Lender shall continue to deal solely and directly with each other in connection with the Lender’s rights and obligations hereunder
and under the Other Documents and (c) all amounts payable by Loan Parties shall be determined as if the Lender had not sold such participation and shall be paid directly to the Lender. Loan Parties agree that if amounts outstanding under this
Agreement or any Other Document are due and payable (as a result of acceleration or otherwise), each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement and the
other Loan Documents to the same extent as if the amount of its participating interest were owing directly to it as a Lender under this Agreement; provided that such right of set-off shall not be exercised without the prior written consent of
the Lender and shall be subject to the obligation of each Participant to share with the Lender its share thereof. Loan Parties also agree that each Participant shall be entitled to the benefits of Section 2.13 below as if it were the Lender.
Notwithstanding the granting of any such participating interests: (i) Loan Parties shall look solely to the Lender for all purposes of this Agreement, the Other Documents and the transactions contemplated hereby, (ii) Loan Parties shall at
all times have the right to rely upon any waivers or consents signed by the Lender as being binding upon all of the Participants, and (iii) all communications in respect of this Agreement and such transactions shall remain solely between Loan
Parties and the Lender (exclusive of Participants) hereunder. The Lender shall maintain, as a non-fiduciary agent of the Borrowers, a register as to the participations granted and transferred under this Section containing the same information
specified in Section 16.3(d) on the Register as if each Participant were a Lender. 
 (c) Anything in this Agreement or any
Other Document to the contrary notwithstanding, the Lender may, at any time and from time to time, without in any manner affecting or impairing the validity of any Obligations, transfer and assign all or any interests in its Term Loan and/or other
interests hereunder and/or under any Other Document to any Person (an “Assignee Lender”) as the Lender may determine. Upon any such transfer or assignment, the Assignee Lender shall be deemed to succeed (to the extent of the interest
transferred or assigned) to the rights and obligations of the Lender for all purposes of this Agreement and the Other Documents, and in the case of a partial transfer or assignment, the Loan Parties shall, and shall cause each Subsidiary to,
execute, acknowledge and deliver to the Lender and the Assignee Lender all amendments and modifications to this Agreement and the Other Documents required by the Lender and the Assignee Lender in connection therewith, including, without limitation,
to reflect a multi-lender credit facility, including, without limitation, to institute inter-lender voting provisions, waterfall provisions, assignment provisions, and agency provisions, in each in form and substance acceptable to the Lender and the
Assignee Lender. Notwithstanding any provision of this Agreement or any Other Document to the contrary, the Lender may at any time pledge or grant a security interest in all or any portion of its rights under this Agreement and the Other Documents
to secure obligations of the Lender, including, without limitation, any pledge or grant to secure obligations to a Federal Reserve Bank. 

  
 94 

 (d) In respect of any negotiation, transfer or assignment of all or any portion of the
Lender’s interest in this Agreement, the Term Note and/or any Other Documents at any time and from time to time, the following provisions shall be applicable: 

(i) The Administrative Borrower, or any agent appointed by the Administrative Borrower, shall maintain a register (the
“Register”) in which there shall be recorded the name and address of each Person holding any Term Note hereunder, and the principal amount and stated interest payable to such Person under such Person’s Term Note. The Administrative
Borrower hereby irrevocably appoints the Lender (and/or any subsequent Lender appointed by the Lender then maintaining the Register) as the Administrative Borrower’s non-fiduciary agent for the purpose of maintaining the Register. 

(ii) In connection with any negotiation, transfer or assignment as aforesaid, the transferor/assignor shall deliver to the
Lender then maintaining the Register an assignment and assumption agreement executed by the transferor/assignor and the transferee/assignee, setting forth the specifics of the subject transaction, including but not limited to the amount and nature
of Obligations being transferred or assigned (and being assumed, as applicable), and the proposed effective date of such transfer or assignment and the related assumption (if applicable). 

(iii) Subject to receipt of any required tax forms reasonably required by the Lender, such Person shall record the subject
transfer, assignment and assumption in the Register. Anything contained in the Term Note or Other Document to the contrary notwithstanding, no negotiation, transfer or assignment shall be effective until it is recorded in the Register pursuant to
this Section 16.3(d). The entries in the Register shall be conclusive and binding for all purposes, absent manifest error; and the Borrowers and each Lender shall treat each Person whose name is recorded in the Register as a Lender hereunder
for all purposes of this Agreement. The Register shall be available for inspection by the Borrowers and each Lender at any reasonable time and from time to time upon reasonable prior notice. 

(e) Loan Parties authorize the Lender to disclose to any Participant or Assignee Lender and any prospective Participant or Assignee
Lender (who agrees in writing or through electronic media to treat the information as confidential and use it solely in connection with a proposed transfer under this Section 16.3) any and all financial and other information in the
Lender’s possession concerning Loan Parties which has been delivered to the Lender by or on behalf of Loan Parties pursuant to this Agreement or in connection with the Lender’s credit evaluation of Loan Parties. 

  
 95 

 (f) Each Assignee Lender or Participant organized under the laws of a jurisdiction outside
the United States, and from time to time thereafter if either requested by the Borrowers (or Administrative Borrower on behalf of the Borrowers) or the Lender or upon the obsolescence or expiration of any previously delivered form, shall provide the
Lender and Administrative Borrower (on behalf of the Borrowers) with (i) two (2) original executed copies of a correct and completed IRS Form W-8BEN, W-8ECI, or W-8IMY (with appropriate attachments), as appropriate, or any successor or
other form prescribed by the IRS, certifying that payments to such Assignee Lender or Participant are not subject to United States federal withholding tax under the Code because such payment is either effectively connected with the conduct by such
Assignee Lender or Participant of a trade or business in the United States or totally exempt from United States federal withholding tax by reason of the application of an income tax treaty to which the United States is a party or such Assignee
Lender or Participant is otherwise exempt, (ii) or to the extent permitted by law, each such Assignee Lender or Participant may provide Administrative Borrower (on behalf of the Borrowers) and the Lender with two original executed copies of IRS
Form W-8BEN, or any successor form prescribed by the IRS, certifying that such Assignee Lender or Participant is exempt from United States federal withholding tax pursuant to Section 871(h) or 881(c) of the Code, together with an annual
certificate stating that such Assignee Lender or Participant is not a “person” described in Section 871(h)(3) or 881(c)(3) of the Code and (iii) a duly completed and executed IRS Form W-8BEN or W 9, as appropriate, or any
successor or other form establishing an exemption from United States federal backup withholding tax. Each such Assignee Lender or Participant further agrees to complete and deliver to Administrative Borrower (on behalf of the Borrowers), upon its
request, such other forms or other documentation as may be appropriate to minimize any withholding tax on payments pursuant to this Agreement under the laws of any other jurisdiction unless such completion and delivery may in any event be
disadvantageous for such Assignee Lender or Participant. For purposes of this subsection (f), the term “United States” shall have the meaning specified in Section 7701 of the Code. Each Assignee Lender or Participant that is a United
States person, shall provide the Lender and Administrative Borrower with two original executed IRS Form W-9s, certifying as to status for United States federal back up withholding tax purposes. 

(g) At the request of the Lender from time to time both before and after the Closing Date, Loan Parties will assist the Lender in the
syndication of the credit facility provided pursuant to this Agreement and the Other Documents. Such assistance shall include, but not be limited to (i) prompt assistance in the preparation of an information memorandum and the verification of
the completeness and accuracy of the information and the reasonableness of the projections contained therein, (ii) preparation of offering materials and financial projections by Loan Parties and their advisors, (iii) providing the Lender
with all information reasonably deemed necessary by the Lender to successfully complete the syndication, (iv) confirmation as to the accuracy and completeness of such offering materials and information and confirmation that management’s
projections are based on assumptions believed by Loan Parties to be reasonable at the time made, and (v) participation of Loan Parties’ senior management in meetings and conference calls with potential lenders at such times and places as
the Lender may reasonably request. 
 (h) If a payment made to any Lender hereunder or under any Other Document would be subject
to withholding tax imposed by FATCA if such Lender fails to comply with applicable reporting and other requirements of FATCA, such Lender shall deliver to Administrative Borrower, at the time or times prescribed by applicable law or as reasonably
requested by Administrative Borrower, (i) two (2) accurate, complete and signed certifications prescribed by applicable law or reasonably satisfactory to Administrative Borrower that establish that such payment is exempt from withholding
tax imposed by FATCA and (ii) any other documentation reasonably requested by Administrative Borrower sufficient for Administrative Borrower to comply with its obligations under FATCA and to determine that such Lender has complied with such
applicable reporting and other requirements of FATCA. 

  
 96 

 16.4 Application of Payments. 

The Lender shall have the continuing and exclusive right to apply or reverse and re-apply any payment and any and all proceeds of
Collateral to any portion of the Obligations. To the extent that any Loan Party makes a payment or the Lender receives any payment or proceeds of the Collateral for any Loan Party’s benefit, which are subsequently invalidated, declared to be
fraudulent or preferential, set aside or required to be repaid to a trustee, debtor in possession, receiver, custodian or any other party under any bankruptcy law, common law or equitable cause, then, to such extent, the Obligations or part thereof
intended to be satisfied shall be revived and continue as if such payment or proceeds had not been received by the Lender. 

16.5 Indemnity/Currency Indemnity. 
 (a) Each Loan Party shall indemnify the Lender and each of its officers, directors, Affiliates, employees, representatives and agents (each, an “Indemnitee”) from and against any and all
liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses and disbursements of any kind or nature whatsoever (including, without limitation, fees and disbursements of counsel) arising from any action,
litigation, proceeding, dispute or investigation which may be imposed on, incurred by, or asserted against the Lender in any litigation, proceeding, dispute or investigation instituted or conducted by any Governmental Body or any other Person with
respect to any aspect of, or any transaction contemplated by, or referred to in, or any matter related to, this Agreement or the Other Documents, whether or not the Lender is a party thereto; except, that, no Indemnitee shall be
entitled to indemnification hereunder to the extent that any of the foregoing arises out of the gross (not mere) negligence or willful misconduct of such Indemnitee as determined pursuant to a final, non-appealable order of a court of competent
jurisdiction. Upon learning of any matter described above for which any Indemnitee may want to seek indemnity from any Loan Party, such Indemnitee shall promptly notify Administrative Borrower of such matter; provided, that, the
failure to do so shall not in any manner limit, impair or affect Loan Parties’ indemnification obligations hereunder. Nothing contained herein or in any Other Document shall prohibit any Loan Party from seeking contribution or indemnity from
any Person other than the Lender. 
 (b) If for the purposes of obtaining or enforcing judgment in any court in any jurisdiction
with respect to this Agreement or any Other Document, it becomes necessary to convert into the currency of such jurisdiction (the “Judgment Currency”) any amount due under this Agreement or under any Other Document in any currency other
than the Judgment Currency (the “Currency Due”) (including any Currency Due for the purposes of Section 2.3) then, to the extent permitted by law, conversion shall be made at the exchange rate selected by the Lender on the Business
Day before the day on which judgment is given (or for the purposes of Section 2.3 on the Business Day on which the payment was received by the Lender). In the event that there is a change in such exchange rate between the Business Day before
the day on which the judgment is given and the date of receipt by the Lender of the amount due, Borrowers shall to the extent permitted by law, on the date of receipt by the Lender, pay such additional amounts, if any, or be entitled to receive
reimbursement of such amount, if any, as may be necessary to ensure that the amount received by the Lender on such date is the amount in the Judgment Currency which (when converted at such exchange rate on the date of receipt by the Lender in
accordance with normal banking procedures in the relevant jurisdiction) is the amount then due under this Agreement or such Other Document in the Currency Due. If the amount of the Currency Due (including any Currency Due for purposes of
Section 2.3) which the Lender is so able to purchase is less than the amount of the Currency Due (including any Currency Due for purposes of Section 2.3) originally due to it, Borrowers shall to the extent permitted by law jointly and
severally indemnify and save the Lender harmless from and against loss or damage arising as a result of such deficiency. 

  
 97 

 16.6 Notice. 

Any notice or request required to be given hereunder to any Loan Party or to the Lender shall be in writing (except as expressly provided
herein) at their respective addresses set forth below or at such other address as may hereafter be specified in a notice designated as a notice of change of address under this Section 16.6. Any notice or request required to be given hereunder
shall be given by (a) hand delivery, (b) overnight courier, (c) registered or certified mail, return receipt requested, or (d) facsimile to the number set out below (or such other number as may hereafter be specified in a notice
designated as a notice of change of address) with electronic confirmation of its receipt. Any notice or request required to be given hereunder shall be deemed given on the earlier of (i) actual receipt thereof, and (ii) (A) one
Business Day following posting thereof by a recognized overnight courier, (B) three (3) days following posting thereof by registered or certified mail, return receipt requested, or (C) upon the sending thereof when sent by facsimile
with electronic confirmation of its receipt, in each case addressed to each party at its address set forth below or at such other address as has been furnished in writing by a party to the other by like notice: 

 

			
	 If to the Lender at:
	  	 Comvest Capital II, L.P.

525 Okeechobee Blvd., Suite 1050
 West Palm
Beach, Florida 33401
 Attention:          Greg Reynolds

Telephone:        561-727-1830
 Facsimile:          561-727-2100
  

with a copy to:
  
 McDermott Will & Emery LLP
 227 West Monroe Street

Suite 4400
 Chicago, Illinois 60606

Attention:         Michael L. Boykins
 Telephone:        (312) 984-7599

Facsimile:         (312) 277-7630

 If to a Lender other than Comvest, as specified in the applicable assignment agreement. 

 

			
	 If to any Borrower or any Loan Party:
	  	 Primo Water Corporation
 104
Cambridge Plaza Drive
 Winston-Salem, North Carolina 27104
 Attention:         Mark Castaneda

Telephone:        (336) 331-4047
 Facsimile:         (336) 331-4247

  
 98 

 16.7 Survival. 

The obligations of Loan Parties under Sections 2.13, 2.15, 16.5 and 16.10 shall survive termination of this Agreement and the Other
Documents and Payment in Full of the Obligations. 
 16.8 Postponement of Subrogation, Etc. Rights. 

Each Loan Party expressly agrees not to exercise, until Payment in Full of all of the Obligations, any and all rights of subrogation,
reimbursement, indemnity, exoneration, contribution of any other claim which such Loan Party may now or hereafter have against the other Loan Parties or other Person directly or contingently liable for the Obligations hereunder, or against or with
respect to the other Loan Parties’ property (including, without limitation, any property which is Collateral for the Obligations), arising from the existence or performance of this Agreement. 

16.9 Severability. 
 If any part of this Agreement is contrary to, prohibited by, or deemed invalid under applicable laws or regulations, such provision shall be inapplicable and deemed omitted to the extent so contrary,
prohibited or invalid, but the remainder hereof shall not be invalidated thereby and shall be given effect so far as possible. 

16.10 Expenses. 
 The Borrowers shall reimburse the Lender for all costs and expenses (including without limitation, travel expenses) paid or incurred by the Lender in connection with this Agreement and the Other
Documents, including, without limitation: 
 (a) reasonable attorneys’ fees and disbursements incurred by the Lender
(i) in all efforts made to enforce payment of any Obligations or collection of or other realization upon any Collateral, (ii) in defending or prosecuting any actions or proceedings arising out of or relating to this Agreement and the Other
Documents, (iii) in connection with the enforcement of this Agreement or any Other Document, and (iv) in enforcing the Lender’s security interest in or Lien on any of the Collateral, whether through judicial proceedings or otherwise;

 (b) reasonable attorneys’ fees and expenses, fees and expenses of financial accountants, advisors, consultants,
appraisers and other professionals incurred by the Lender and other costs and expenses incurred by the Lender (i) in connection with the preparing, negotiating, entering into or performing this Agreement and/or the Other Documents, any
amendment, waiver, consent or other modification with respect thereto and the administration, work-out or enforcement of this Agreement and the Other Documents, (ii) in instituting, maintaining, preserving and foreclosing on Liens on any of the
Collateral, whether through judicial proceedings or otherwise, (iii) in connection with any advice given to the Lender with respect to its rights and obligations under this Agreement and all Other Documents or (iv) that the Lender
reasonably deems necessary or appropriate for the performance and fulfillment of its functions, powers, and obligations pursuant to this Agreement and the Other Documents; and 

  
 99 

 (c) reasonable fees and disbursements incurred by the Lender in connection with any
appraisals of Inventory, Equipment or other Collateral, field examinations, collateral analysis or monitoring or other business analysis conducted by outside Persons in connection with this Agreement and the Other Documents (it being understood that
Borrowers shall not be responsible for more than (i) one (1) appraisal of Inventory during such year unless an Event of Default has occurred and is continuing, in which case Borrowers shall be responsible for such appraisals of Inventory
as the Lender may request; and (ii) two (2) field examinations during such year unless an Event of Default has occurred and is continuing, in which case Borrowers shall be responsible for such field examinations as the Lender may request).

 16.11 Injunctive Relief. 
 Each Loan Party recognizes that, in the event any Loan Party fails to perform, observe or discharge any of its obligations or liabilities under this Agreement, any remedy at law may prove to be inadequate
relief to the Lender; therefore, the Lender, if the Lender so requests, shall be entitled to temporary and permanent injunctive relief in any such case without the necessity of proving that actual damages are not an adequate remedy. 

16.12 Consequential Damages. 
 None of the Lender, any Loan Party nor any agent or attorney for any of them, shall be liable for special, punitive, exemplary, indirect or consequential damages arising from any breach of contract, tort
or other wrong relating to the establishment, administration or collection of the Obligations. 
 16.13 Captions.

 The captions at various places in this Agreement are intended for convenience only and do not constitute and shall not be
interpreted as part of this Agreement. 
 16.14 Counterparts; Facsimile or Emailed Signatures. 

This Agreement may be executed in any number of and by different parties hereto on separate counterparts, all of which, when so executed,
shall be deemed an original, but all such counterparts shall constitute one and the same agreement. Any signature delivered by a party by facsimile or email transmission shall be deemed to be an original signature hereto. 

16.15 Construction. 
 The parties acknowledge that each party and its counsel have reviewed this Agreement and that the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting
party shall not be employed in the interpretation of this Agreement or any amendments, schedules or exhibits thereto. 

  
 100

 16.16 Confidentiality; Sharing Information. 

(a) The Lender, each Assignee Lender and each Participant shall hold all non-public information designated as confidential and obtained
by the Lender, such Assignee Lender or such Participant pursuant to the requirements of this Agreement in accordance with the Lender’s, such Assignee Lender’s or such Participant’s customary procedures for handling confidential
information of this nature; provided, however, that, the Lender, each Assignee Lender and each Participant may disclose such confidential information (i) to its examiners, affiliates, outside auditors, counsel and other
professional advisors, (ii) to the Lender or to any prospective Assignee Lender or Participant (who agrees in writing or through electronic media to treat the information as confidential and use it solely in connection with a proposed transfer
under Section 16.3), (iii) that ceases to be non-public information through no fault of the Lender, and (iv) as required or requested by any Governmental Body or representative thereof or pursuant to legal process; provided,
further, that, (A) unless specifically prohibited by applicable law or court order, the Lender, each Assignee Lender and each Participant shall use reasonable efforts prior to disclosure thereof, to notify Administrative Borrower
(on behalf of the Borrowers) of the applicable request for disclosure of such non-public information (1) by a Governmental Body or representative thereof (other than any such request in connection with an examination of the financial condition
of the Lender, any Assignee Lender or any Participant by such Governmental Body) or (2) pursuant to legal process, and (B) in no event shall the Lender, any Assignee Lender or any Participant be obligated to return any materials furnished
by any Loan Party other than those documents and instruments in possession of the Lender, any Assignee Lender or any Participant constituting possessory Collateral once all of the Obligations have been Paid in Full. 

(b) Each Loan Party acknowledges that from time to time financial advisory, investment banking and other services may be offered or
provided to such Loan Party or one or more of its Affiliates (in connection with this Agreement or otherwise) by the Lender or by one or more Subsidiaries or Affiliates of the Lender and each Loan Party hereby authorizes the Lender to share any
information delivered to the Lender by such Loan Party and its Subsidiaries pursuant to this Agreement, or in connection with the decision of the Lender to enter into this Agreement, to any such Subsidiary or Affiliate of the Lender, it being
understood that any such Subsidiary or Affiliate of the Lender receiving such information shall be bound by the provision of this Section 16.16 as if it were a Lender hereunder. Such authorization shall survive the repayment of the Obligations
and the termination of this Agreement. 
 16.17 Publicity. 

The Lender shall not make any announcements of the financial arrangement entered into among Loan Parties and the Lender,
including, without limitation, announcements which are commonly known as tombstones, unless the Administrative Borrower provides its prior written consent. In addition, the Lender shall not include, without the prior written consent of the
Administrative Borrower, any Loan Party’s name or logo in select transaction profiles and client testimonials prepared by the Lender for use in publications, company brochures and other marketing materials of the Lender. Subject to the
Lender’s prior written approval (which shall not be unreasonably withheld or delayed), Loan Parties shall have the right to make appropriate announcements of the financial arrangement entered into among Loan Parties and the Lender in such
publications and to such selected parties as Loan Parties deem appropriate; except, that, Loan Parties shall have the right to make any disclosure required by law or by applicable SEC regulations without any requirement to obtain prior
written approval. 

  
 101

 16.18 Patriot Act Notice. 

The Lender, in accordance with the USA Patriot Act of 2001 (31 U.S.C. 5318 et seq.), hereby notifies Loan Parties that, pursuant to
Section 326 thereof, it is required to obtain, verify and record information that identifies Loan Parties, including the name and address of each Loan Party and other information allowing the Lender to identify Loan Parties in accordance with
such act. 
 16.19 Conflict with Intercreditor Agreement. 

Each of the parties hereto acknowledge and agree that whenever (a) any term or provision of this Agreement or any term or provision
of any Other Document are incapable of being performed or complied with if the Loan Parties are also required to perform and comply with the terms and provisions of the Revolving Loan Documents, and (b) such conflict is resolved pursuant to the
terms and provisions of the Intercreditor Agreement, the terms and provisions of the Intercreditor Agreement shall govern and control, and the failure of the Loan Parties to comply with the terms and provisions of this Agreement and the Other
Documents shall not constitute a breach of any such terms or provisions of this Agreement and such Other Documents. 

[SIGNATURE PAGES FOLLOW] 

  
 102

 Each of the parties has signed this Agreement as of the day and year first above written.

  

			
	
	 BORROWERS:

	
	PRIMO WATER CORPORATION
		
	By:	 	/s/ Mark Castaneda
		 	  

	Name:	 	Mark Castaneda
	Title:	 	Chief Financial Officer
	
	 PRIMO PRODUCTS, LLC

		
	By:	 	/s/ Mark Castaneda
		 	  

	Name:	 	Mark Castaneda
	Title:	 	Chief Financial Officer
	
	 PRIMO DIRECT, LLC

		
	By:	 	/s/ Mark Castaneda
		 	  

	Name:	 	Mark Castaneda
	Title:	 	Chief Financial Officer
	
	 PRIMO REFILL, LLC

		
	By:	 	/s/ Mark Castaneda
		 	  

	Name:	 	Mark Castaneda
	Title:	 	Chief Financial Officer
	
	 PRIMO ICE, LLC

		
	By:	 	/s/ Mark Castaneda
		 	  

	Name:	 	Mark Castaneda
	Title:	 	Chief Financial Officer

 [SIGNATURES CONTINUED ON NEXT PAGE] 

 [SIGNATURES CONTINUED FROM PREVIOUS PAGE] 

 

			
	
	 GUARANTOR:

	
	 PRIMO REFILL CANADA CORPORATION

		
	 By:
	 	/s/ Mark Castaneda
		 	  

	 Name:
	 	Mark Castaneda
	 Title:
	 	Chief Financial Officer

 [SIGNATURES CONTINUED ON NEXT PAGE] 

 [SIGNATURES CONTINUED FROM PREVIOUS PAGE] 

 

			
	 LENDER:

	
	 COMVEST CAPITAL II, L.P.,

	 as Lender

		
	By:	 	 ComVest Capital II Partners, L.P., its General Partner

	By:	 	 ComVest Capital II Partners UGP, LLC, its General Partner

		
	By:	 	/s/ Greg Reynolds
		 	  

	Name:	 	
		 	  

	Title:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00203-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00203-of-00352.parquet"}]]