Document:

Exhibit 4.1

 

EXECUTION VERSION

 

AMENDMENT NO. 9

 

TO

 

CREDIT AGREEMENT

 

This AMENDMENT NO. 9
to CREDIT AGREEMENT (this “Amendment”), dated as of September 25, 2019, is entered into by and among AAR CORP.
(the “Borrower”), the financial institutions party hereto (the “Lenders”), BANK OF AMERICA,
N.A., as Administrative Agent (the “Administrative Agent”), WELLS FARGO BANK, N.A., as Syndication Agent, HSBC
BANK USA, NATIONAL ASSOCIATION (the “New Lender”), and CITIBANK, N.A. and SUNTRUST BANK, as Co-Documentation
Agents. Each capitalized term used herein and not otherwise defined herein shall have the meaning given to it in the below-defined
Credit Agreement.

 

WITNESSETH

 

WHEREAS, the Borrower,
the Lenders and the Administrative Agent are parties to that certain Credit Agreement dated as of April 12, 2011 (as the same has
been or may be amended, restated, supplemented or otherwise modified prior to the date hereof, the “Existing Credit Agreement”,
and, as amended by this Amendment, the “Amended Credit Agreement”); and

 

WHEREAS, the Borrower
wishes to amend the Existing Credit Agreement in certain respects, and in connection therewith the New Lender has agreed to extend
a new Commitment in the amount of $40,000,000, and the Lenders and the Administrative Agent are willing to amend the Existing Credit
Agreement on the terms and conditions set forth herein;

 

NOW, THEREFORE, in consideration
of the premises set forth above, the terms and conditions contained herein, and other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the Borrower, the Administrative Agent and the Lenders hereby agree as follows:

 

SECTION 1.         
Amendments to Existing Credit Agreement. Effective as of the date first above written, and subject to the satisfaction
of the conditions to effectiveness set forth in Section 2 below, the Existing Credit Agreement is hereby amended as follows:

 

(a)               
 to delete the stricken text (indicated textually in the same manner as the following example: stricken
text) and to add the double-underlined text (indicated textually in the same manner as the following example: double-underlined
text) as set forth in the Amended Credit Agreement attached hereto as Exhibit A; and

 

(b)               
to replace Schedule 2.01 to the Existing Credit Agreement in its entirety with the schedule attached hereto as Exhibit
B.

 

SECTION 2.         
Conditions of Effectiveness. This Amendment shall become effective and be deemed effective as of the date hereof,
subject to the satisfaction of the conditions precedent that the Administrative Agent shall have received each of the following:

 

(a)               
counterparts of this Amendment executed by the Borrower and the Lenders;

 

     

     

    

 

(b)               
counterparts of the consent, amendment and reaffirmation agreement (the “Consent, Amendment and Reaffirmation”),
substantially in the form of Exhibit C attached hereto, executed by the Guarantors;

 

(c)               
any amended and restated notes executed by the Borrower in favor of each Lender requesting a note;

 

(d)              
a certificate of the Secretary or Assistant Secretary of each Loan Party certifying as to and attaching: (i) such Loan Party’s
certificate or articles of incorporation or certificate of formation, as applicable, and all amendments thereto, certified as of
a recent date by the Secretary of State (or other appropriate governmental official) of the jurisdiction of its organization (other
than the certified articles of incorporation for each of AAR International, Inc. and AAR Supply Chain, Inc. which the Borrower
shall promptly deliver to the Administrative Agent after the date hereof), (ii) such Loan Party’s bylaws, limited liability
company agreement or other equivalent governing documents, as applicable, and all amendments thereto, (iii) resolutions duly adopted
by the Board of Directors or equivalent governing body of such Loan Party authorizing the execution, delivery and performance of
each Loan Document to which it is a party and (iv) the incumbency and signatures of the officers or representatives of such Loan
Party executing this Amendment, the Consent, Amendment and Reaffirmation and the other Loan Documents, as applicable;

 

(e)               
a good standing certificate for each Loan Party from the Secretary of State (or other appropriate governmental official)
of its jurisdiction of organization, dated as of a recent date;

 

(f)                
a certificate of the Borrower certifying that (i) the representations and warranties set forth in Section 3 below are true
and correct on and as of the date hereof, except to the extent that such representations and warranties specifically refer to an
earlier date, in which case they shall be true and correct as of such earlier date, (ii) since July 18, 2019, no event or condition
has occurred that has had or could be reasonably expected, either individually or in the aggregate, to have a Material Adverse
Effect, and (iii) no Event of Default or Default has occurred and is continuing;

 

(g)               
(i) an opinion of Debevoise & Plimpton LLP, counsel to the Loan Parties, and (ii) an opinion of Robert J. Regan, Vice
President, General Counsel and Secretary of the Borrower, in each case, in form and substance acceptable to the Administrative
Agent, relating to, among other things, the enforceability of the Amended Credit Agreement;

 

(h)               
at least five business days prior to the date hereof, all documentation and other information required by bank regulatory
authorities under applicable “know-your-customer” and anti-money laundering rules and regulations, including the Patriot
Act, to the extent requested at least ten days prior to the date hereof; and

 

(i)                
payment of the fees prescribed to be paid on the date hereof in that certain fee letter, dated as of September 13, 2019
between the Borrower and the Administrative Agent.

 

SECTION 3.         
Representations and Warranties of the Borrower. The Borrower hereby represents and warrants as follows:

 

(a)               
The Amended Credit Agreement constitutes the legal, valid and binding obligation of the Borrower and is enforceable against
the Borrower in accordance with its terms, subject to bankruptcy, insolvency and similar laws affecting the enforceability of creditors’
rights generally and to general principles of equity; and

 

    2

     

    

 

(b)               
Upon the effectiveness of this Amendment, the Borrower hereby (i) represents that no Event of Default or Default exists
under the terms of the Amended Credit Agreement, and (ii) represents that the representations and warranties contained in the Amended
Credit Agreement (other than the representations and warranties set forth in Section 5.04(b) and 5.05 of the Amended
Credit Agreement) are true and correct on and as of the date hereof with the same effect as if made on and as of the date hereof
except to the extent that such representations and warranties expressly relate to an earlier date and in such case as of such date.
The execution, delivery and effectiveness of this Amendment shall not, except as expressly provided herein, operate as a waiver
of any right, power, or remedy of the Lenders or the Administrative Agent under the Amended Credit Agreement or any related document,
instrument or agreement. The Administrative Agent and the Lenders expressly reserve all of their rights and remedies, including
the right to institute enforcement actions in consequence of any existing Events of Default or Default not waived hereunder or
otherwise at any time without further notice, under the Amended Credit Agreement, all other documents, instruments and agreements
executed in connection therewith, and applicable law.

 

SECTION 4.         
Effect on the Existing Credit Agreement.

 

(a)               
Upon the effectiveness of this Amendment, on and after the date hereof, each reference in the Existing Credit Agreement
to “this Agreement,” “hereunder,” “hereof,” “herein” or words of like import shall
mean and be a reference to the Amended Credit Agreement.

 

(b)               
Except as specifically amended and modified above, the Existing Credit Agreement and all other documents, instruments and
agreements executed and/or delivered in connection therewith shall remain in full force and effect, and are hereby ratified and
confirmed.

 

(c)               
The execution, delivery and effectiveness of this Amendment shall neither, except as expressly provided herein, operate
as a waiver of any right, power or remedy of the Lenders or the Administrative Agent, nor constitute a waiver of any provision
of the Existing Credit Agreement or any other documents, instruments and agreements executed and/or delivered in connection therewith.

 

SECTION 5.         
New Lender; Reallocation of Outstanding Loans. On the date hereof, (a) each Lender party to the Credit Agreement
prior to the effectiveness of this Amendment (each an “Existing Lender”) shall be deemed to sell, grant, assign
and convey to the New Lender, without recourse, warranty, or representation of any kind, except as specifically provided herein,
an undivided percentage in such Existing Lender’s right, title and interest in and to its outstanding Loans in the respective
dollar amounts and percentages necessary so that, from and after such sale, each such Existing Lender’s outstanding Loans
shall equal such Existing Lender’s pro rata share (calculated after giving effect to this Amendment) of the outstanding Loans,
and (b) the New Lender hereby purchases and accepts such grant, assignment and conveyance from the Existing Lenders. The New Lender
hereby agrees that its respective purchase price for the portion of the outstanding Loans purchased hereby shall equal the respective
dollar amount necessary so that, from and after such payments, the New Lender’s outstanding Loans shall equal the New Lender’s
pro rata share (calculated after giving effect to this Amendment) of the outstanding Loans. The New Lender shall pay such amount
on the date hereof by wire transfer of immediately available funds to the Administrative Agent, for the account of the Existing
Lenders. The New Lender hereby acknowledges and agrees that it has entered into this Amendment and the Credit Agreement on the
basis of its own independent investigation and has not relied upon, and will not rely upon, any explicit or implicit written or
oral representation, warranty or other statement of the Lenders or the Agent concerning the authorization, execution, legality,
validity, effectiveness, genuineness, enforceability or sufficiency of this Amendment or the other Loan Documents.

 

    3

     

    

 

SECTION 6.         
Consent to Amendment to Guaranty. Each of the Lenders hereby consents to the execution and delivery of that certain
Consent, Amendment and Reaffirmation, substantially in the form of Exhibit C attached hereto, with respect to the amendment
of that certain Guaranty, dated as of April 12, 2011, among the Borrower and the Guarantors in favor of the Administrative Agent,
pursuant thereto and as described therein.

 

SECTION 7.         
Costs and Expenses. The Borrower agrees to pay all reasonable costs, fees and out-of-pocket expenses (including reasonable
attorneys’ fees, costs and expenses charged to the Administrative Agent) incurred by the Administrative Agent in connection
with the preparation, arrangement and execution of this Amendment.

 

SECTION 8.         
GOVERNING LAW. THIS AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH THE LAWS OF
THE STATE OF NEW YORK (INCLUDING, WITHOUT LIMITATION, SECTION 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW, BUT OTHERWISE
WITHOUT REGARD TO CONFLICTS OF LAW PRINCIPLES THEREOF).

 

SECTION 9.         
Headings. Section headings in this Amendment are included herein for convenience of reference only and shall not
constitute a part of this Amendment for any other purpose.

 

SECTION 10.     
Counterparts. This Amendment may be executed by one or more of the parties to the Amendment on any number of separate
counterparts and all of said counterparts taken together shall be deemed to constitute one and the same instrument. An electronic
or facsimile copy of a signature hereto shall have the same effect as the original thereof.

 

The remainder of this page is intentionally
blank.

 

    4

     

    

 

IN WITNESS WHEREOF, this Amendment has been
duly executed as of the day and year first above written.

 

	 	AAR CORP.,
	 	as Borrower
	 	 
	 	 
	 	By:	/s/ Jason Secore
	 	Name: 	Jason Secore
	 	Title:	Vice President and Treasurer

 

Signature Page to Amendment No. 9 to

AAR Corp. Credit Agreement

 

     

     

    

 

	 	BANK OF AMERICA, N.A., 
	 	as Administrative Agent 
	 	 
	 	 
	 	By:	/s/ Christine Trotter
	 	Name:	 Christine Trotter
	 	Title:	Assistant Vice President

 

Signature Page to Amendment No. 9 to

AAR Corp. Credit Agreement

 

     

     

    

 

	 	BANK OF AMERICA, N.A., 
	 	as a Lender and an L/C Issuer
	 	 
	 	 
	 	By:	/s/ Quinn Richardson, A.
	 	Name:	Quinn Richardson, A.
	 	Title:	Senior Vice President

 

Signature Page to Amendment No. 9 to

AAR Corp. Credit Agreement

 

     

     

    

 

	 	WELLS FARGO BANK, N.A.,
	 	as Syndication Agent, an L/C Issuer and a Lender
	 	 
	 	By:	 /s/ Brett T. Rausch
	 	Name:	Brett T. Rausch
	 	Title:	Senior Vice President

 

Signature Page to Amendment No. 9 to

AAR Corp. Credit Agreement

 

     

     

    

 

	 	CITIBANK, N.A.,
	 	as Co-Documentation Agent, a Lender and an L/C Issuer
	 	 
	 	 
	 	By: 	/s/ Brian Reed
	 	Name:	Brian Reed
	 	Title:	Vice President

 

Signature Page to Amendment No. 9 to

AAR Corp. Credit Agreement

 

     

     

    

 

	 	SUNTRUST BANK, 
	 	as Co-Documentation Agent and a Lender
	 	 
	 	 
	 	By: 	/s/ Carlos Cruz
	 	Name:	Carlos Cruz
	 	Title:	Director

 

Signature Page to Amendment No. 9 to

AAR Corp. Credit Agreement

 

     

     

    

 

	 	U.S. BANK NATIONAL ASSOCIATION,
	 	as a Lender
	 	 
	 	 
	 	By: 	/s/ Kathleen D. Schurr
	 	Name:	Kathleen D. Schurr
	 	Title:	Vice President

 

Signature Page to Amendment No. 9 to

AAR Corp. Credit Agreement

 

     

     

    

 

	 	PNC BANK, NATIONAL ASSOCIATION,
	 	as a Lender
	 	 
	 	 
	 	By: 	/s/ Patrick Burnside
	 	Name:	Patrick Burnside
	 	Title:	Assistant Vice President

 

Signature Page to Amendment No. 9 to

AAR Corp. Credit Agreement

 

     

     

    

 

	 	CIBC Bank USA, 
	 	as a Lender
	 	 
	 	 
	 	By: 	/s/ Anne Howaniec
	 	Name:	Anne Howaniec
	 	Title: 	Managing Director

 

Signature Page to Amendment No. 9 to

AAR Corp. Credit Agreement

 

     

     

    

 

	 	ASSOCIATED BANK, NATIONAL ASSOCIATION,
	 	as a Lender
	 	 
	 	 
	 	By: 	/s/ Lisa Hufford
	 	Name:	Lisa Hufford
	 	Title: 	Vice President

 

Signature Page to Amendment No. 9 to

AAR Corp. Credit Agreement

 

     

     

    

 

	 	HSBC BANK USA, NATIONAL ASSOCIATION,
	 	as the New Lender
	 	 
	 	 
	 	By: 	/s/ Amy Franzen
	 	Name:	Amy Franzen
	 	Title: 	Global Relationship Manager

 

Signature Page to Amendment No. 9 to

AAR Corp. Credit Agreement

 

     

     

    

 

EXHIBIT A

 

Conformed Copy of Amended Credit Agreement

 

[attached]

 

     

     

    

 

CONFORMED COPY

Incorporating: 

Amendment No. 1 to Credit Agreement, dated
as of August 26, 2011

Amendment No. 2 to Credit Agreement, dated
as of October 13, 2011

Amendment No. 3 to Credit Agreement, dated
as of December 30, 2011

Amendment No. 4 to Credit Agreement, dated
as of April 8, 2013

Amendment No. 5 to Credit Agreement, dated
as of April 24, 2013

Amendment No. 6 to Credit Agreement, dated
as of March 24, 2015

Amendment No. 7 to Credit Agreement, dated
as of November 1, 2016

Amendment No. 8 to Credit Agreement, dated
as of February 23, 2018

Amendment No. 9 to Credit
Agreement, dated as of September 25, 2019

 

 

 

CREDIT AGREEMENT

 

Dated as of April 12, 2011

 

among

 

AAR CORP.,

as the Borrower,

 

BANK OF AMERICA, N.A.,

as Administrative Agent, Swing Line Lender

and

L/C Issuer,

WELLS FARGO BANK, N.A.,

as Syndication Agent and L/C Issuer,

CITIBANK, N.A.,

and

 

SUNTRUST BANK,

as Co-Documentation Agents,

 

The Other Lenders Party Hereto

 

and

 

MERRILL LYNCH, PIERCE, FENNER &
SMITH INCORPORATED,

 

and

 

WELLS FARGO SECURITIES,
LLC

 

as

 

Joint Lead Arrangers and Joint Book Managers

 

 

 

     

     

     

Table of
Contents

 

	 	 	 	Page
	ARTICLE I. DEFINITIONS AND ACCOUNTING TERMS	1
	 	 
	 	1.01	Defined Terms	1
	 	1.02	Other Interpretive Provisions	29
	 	1.03	Accounting Terms	2930
	 	1.04	Rounding	30
	 	1.05	Times of Day	30
	 	1.06	Letter of Credit Amounts	3031
	 	1.07	Interest Rates	31
	ARTICLE II. THE COMMITMENTS AND CREDIT EXTENSIONS	3031
	 	 
	 	2.01	Committed Loans	3031
	 	2.02	Borrowings, Conversions and Continuations of Committed Loans	31
	 	2.03	[Reserved]	3233
	 	2.04	Letters of Credit	3233
	 	2.05	Swing Line Loans	4041
	 	2.06	Prepayments	4344
	 	2.07	Termination or Reduction of Commitments	44
	 	2.08	Repayment of Loans	4445
	 	2.09	Interest	4445
	 	2.10	Fees	4546
	 	2.11	Computation of Interest and Fees; Retroactive Adjustments of Applicable Rate	46
	 	2.12	Evidence of Debt	4647
	 	2.13	Payments Generally; Administrative Agent’s Clawback	4748
	 	2.14	Sharing of Payments by Lenders	49
	 	2.15	[Reserved]	4950
	 	2.16	Increase in Commitments	4950
	 	2.17	Cash Collateral	51
	 	2.18	Defaulting Lenders	5253
	ARTICLE III. TAXES, YIELD PROTECTION AND ILLEGALITY	5354
	 	 
	 	3.01	Taxes	5354
	 	3.02	Illegality	5758
	 	3.03	Inability to Determine Rates	5859
	 	3.04	Increased Costs; Reserves on Eurodollar Rate Loans	5861
	 	3.05	Compensation for Losses	6063
	 	3.06	Mitigation Obligations; Replacement of Lenders	6063
	 	3.07	Survival	6164
	ARTICLE IV. CONDITIONS PRECEDENT TO CREDIT EXTENSIONS	6164
	 	 
	 	4.01	Conditions of Initial Credit Extension	6164
	 	4.02	Conditions to all Credit Extensions	6265

 

 

     

     

     

TABLE OF CONTENTS (cont’d)

 

	 	 	 	Page
	ARTICLE V. REPRESENTATIONS AND WARRANTIES	6366
	 	 
	 	5.01	Organization	6366
	 	5.02	Authorization; No Conflict	6366
	 	5.03	Validity and Binding Nature	6466
	 	5.04	Financial Condition; No Material Adverse Effect	6467
	 	5.05	Litigation and Contingent Liabilities	6467
	 	5.06	Ownership of Properties; Liens	6467
	 	5.07	Equity Ownership; Subsidiaries	6467
	 	5.08	Pension Plans	6568
	 	5.09	Investment Company Act	6568
	 	5.10	Regulation U	6669
	 	5.11	Taxes	6669
	 	5.12	Solvency; Etc.	6669
	 	5.13	Environmental Matters	6669
	 	5.14	Insurance	6770
	 	5.15	Information	6770
	 	5.16	Intellectual Property	6770
	 	5.17	No Default	6770
	 	5.18	Taxpayer Identification Number	6770
	 	5.19	Anti-Corruption Laws; Sanctions; Anti-Terrorism Laws	6770
	 	5.20	EEA Financial Institutions	71
	ARTICLE VI. AFFIRMATIVE COVENANTS	6871
	 	 
	 	6.01	Reports, Certificates and Other Information	6871
	 	6.02	Books, Records and Inspections	7174
	 	6.03	Maintenance of Property; Insurance	7175
	 	6.04	Compliance with Laws; Payment of Taxes and Liabilities	7175
	 	6.05	Maintenance of Existence, Etc.	7275
	 	6.06	Use of Proceeds	7275
	 	6.07	Additional Guarantors	7276
	 	6.08	PATRIOT Act Compliance 72; Policies and Procedures	76
	ARTICLE VII. NEGATIVE COVENANTS	7376
	 	 
	 	7.01	Debt	7376
	 	7.02	Liens	7478
	 	7.03	Restricted Payments	7680
	 	7.04	Mergers and Consolidations	7680
	 	7.05	Sale of Assets, Etc.	7780
	 	7.06	Acquisitions	7881
	 	7.07	[Reserved]	7982
	 	7.08	Transactions with Affiliates	7982
	 	7.09	Inconsistent Agreements	7982
	 	7.10	Business Activities	7983
	 	7.11	Investments	7983
	 	7.12	Fiscal Year	8084

 

 

    ii

     

     

TABLE OF CONTENTS (cont’d)

 

	 	 	 	Page
	 	7.13	Financial Covenants	8084
	ARTICLE VIII. EVENTS OF DEFAULT AND REMEDIES	8184
	 	 
	 	8.01	Events of Default	8184
	 	8.02	Remedies Upon Event of Default	8386
	 	8.03	Application of Funds	8387
	ARTICLE IX. ADMINISTRATIVE AGENT	8488
	 	 
	 	9.01	Appointment and Authority	8488
	 	9.02	Rights as a Lender	8488
	 	9.03	Exculpatory Provisions	8588
	 	9.04	Reliance by Administrative Agent	8589
	 	9.05	Delegation of Duties	8689
	 	9.06	Resignation of Administrative Agent	8690
	 	9.07	Non-Reliance on Administrative Agent and Other Lenders	8790
	 	9.08	No Other Duties, Etc.	8790
	 	9.09	Administrative Agent May File Proofs of Claim	8791
	 	9.10	Guaranty Matters	8892
	 	9.11	Syndication Agents; Documentation Agents	8892
	 	9.12	Certain ERISA Matters	92
	ARTICLE X. MISCELLANEOUS	8893
	 	 
	 	10.01	Amendments, Etc.	8893
	 	10.02	Notices; Effectiveness; Electronic Communication	8994
	 	10.03	No Waiver; Cumulative Remedies; Enforcement	9197
	 	10.04	Expenses; Indemnity; Damage Waiver	9297
	 	10.05	Payments Set Aside	9499
	 	10.06	Successors and Assigns	9499
	 	10.07	Treatment of Certain Information; Confidentiality	98104
	 	10.08	Right of Setoff	99105
	 	10.09	Interest Rate Limitation	100105
	 	10.10	Counterparts; Integration; Effectiveness	100105
	 	10.11	Survival of Representations and Warranties	100106
	 	10.12	Severability	101106
	 	10.13	Replacement of Lenders	101106
	 	10.14	Governing Law; Jurisdiction; Etc.	101107
	 	10.15	Waiver of Jury Trial	102108
	 	10.16	No Advisory or Fiduciary Responsibility	102108
	 	10.17	Electronic Execution of Assignments and Certain Other Documents	103109
	 	10.18	USA PATRIOT Act	103109
	 	10.19	Acknowledgement and Consent to Bail-In of EEA Financial Institutions	110
	 	10.20	Acknowledgement Regarding Any Supported QFCs	110

 

 

 

    iii

     

     

TABLE OF CONTENTS
(cont’d)

 

	 	 	 	Page

 

	 	SCHEDULES
	 	 	 
	 	2.01	Commitments and Applicable Percentages
	 	2.04	Existing Letters of Credit
	 	5.05	Litigation
	 	5.07	Subsidiaries; Other Equity Investments; Equity Interests in the Borrower
	 	7.01	Existing Debt
	 	7.11	Investments
	 	10.02	Administrative Agent’s Office; Certain Addresses for Notices
	 	 	 
	 	EXHIBITS
	 	 
	 	A	Form of Committed Loan Notice  
	 	C	Form of Swing Line Loan Notice
	 	D	Form of Note
	 	E	Form of Compliance Certificate
	 	F-1	Form of Assignment and Assumption
	 	F-2	Form of Administrative Questionnaire
	 	G	Form of Guaranty
	 	H	Form of Opinion of Loan Parties’ Counsel

 

 

 

    iv

     

     

 

 

CREDIT AGREEMENT

 

This CREDIT AGREEMENT
(“Agreement”) is entered into as of April 12, 2011, among AAR CORP., a Delaware corporation (the “Borrower”),
each lender from time to time party hereto (collectively, the “Lenders” and individually, a “Lender”),
BANK OF AMERICA, N.A., as Administrative Agent, Swing Line Lender and a L/C Issuer, WELLS FARGO BANK, N.A., as a Co-Syndication
Agent and a L/C Issuer, RBS CITIZENS, N.A., as a Co-Syndication Agent, and U.S. BANK NATIONAL ASSOCIATION, as Documentation Agent.

 

The Borrower has requested
that the Lenders provide a revolving credit facility, and the Lenders are willing to do so on the terms and conditions set forth
herein.

 

In consideration of
the mutual covenants and agreements herein contained, the parties hereto covenant and agree as follows:

 

ARTICLE
I. DEFINITIONS AND ACCOUNTING TERMS

 

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

 

“AAR AESL
Group” has the meaning given in the definition of Unrestricted Subsidiary.

 

“AAR IFS Group”
has the meaning given in the definition of Unrestricted Subsidiary.

 

“Acquired
Debt” means Debt of a Person existing at the time such Person became a Restricted Subsidiary or assumed by the Borrower
or a Restricted Subsidiary of the Borrower pursuant to an Acquisition permitted hereunder (and not created or incurred in connection
with or in anticipation of such Acquisition) which is otherwise permitted by the terms of this Agreement.

 

“Acquisition”
means any transaction or series of related transactions for the purpose of or resulting, directly or indirectly, in (a) the acquisition
of all or substantially all of the assets of a Person, or of all or substantially all of any business or division of a Person,
(b) the acquisition of in excess of 50% of the Equity Interests of any Person, or otherwise causing any Person to become a Subsidiary,
or (c) a merger or consolidation or any other combination with another Person (other than a Person that is already a Subsidiary).

 

“Acquisition
Holiday” has the meaning specified in Section 7.13(b).

 

“Adjusted
Total Debt to EBITDA Ratio” means, as of the last day of any Fiscal Quarter, the ratio of (a) the excess of Total Debt as
of such day over Unrestricted Cash as of such day to (b) EBITDA for the Computation Period ending on such day.

 

“Administrative
Agent” means Bank of America, N.A. in its capacity as administrative agent under any of the Loan Documents, or any successor
administrative agent.

 

    1

     

    

 

“Administrative
Agent’s Office” means the Administrative Agent’s address and, as appropriate, account as set forth on Schedule 10.02,
or such other address or account as the Administrative Agent may from time to time notify to the Borrower and the Lenders.

 

“Administrative
Questionnaire” means an Administrative Questionnaire in substantially the form of Exhibit F-2 or any other
form approved by the Administrative Agent.

 

“Adjusted
Total Debt to EBITDA Ratio” means, as of the last day of any Fiscal Quarter, the ratio of (a) the excess
of Total Debt as of such day over Unrestricted Cash as of such day to (b) EBITDA for the Computation Period ending on such day.

 

“Affiliate”
means, with respect to any Person, another Person that directly, or indirectly through one or more intermediaries, Controls or
is Controlled by or is under common Control with the Person specified.

 

“Aggregate
Commitments” means the Commitments of all the Lenders.

 

“Agreement”
means this Credit Agreement.

 

“Amendment
No. 9 Effective Date” means September 25, 2019.

 

“Anti-Corruption
Laws” means all laws, rules, and regulations of any jurisdiction applicable to the Borrower or its Subsidiaries from
time to time concerning or relating to bribery or corruption, including,
without limitation, the United States Foreign Corrupt Practices Act of 1977 and the UK Bribery Act 2010.

 

“Applicable
Percentage” means with respect to any Lender at any time, the percentage (carried out to the ninth decimal place) of
the Aggregate Commitments represented by such Lender’s Commitment at such time, subject to adjustment as provided in Section 2.18.
If the commitment of each Lender to make Loans and the obligation of the L/C Issuer to make L/C Credit Extensions have been terminated
pursuant to Section 8.02 or if the Aggregate Commitments have expired, then the Applicable Percentage of each Lender
shall be determined based on the Applicable Percentage of such Lender most recently in effect, giving effect to any subsequent
assignments and to any Lender’s status as a Defaulting Lender
at the time of determination. The initial Applicable Percentage of each Lender is set forth opposite the name of such
Lender on Schedule 2.01 or in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as
applicable.

 

    2

     

    

 

“Applicable
Rate” means the following percentages per annum, based upon the Adjusted Total Debt to EBITDA Ratio as set forth in the
most recent Compliance Certificate received by the Administrative Agent pursuant to Section 6.01(c):

 

	Applicable Rate
	Pricing Level	 	Adjusted Total Debt 

to EBITDA Ratio	 	Commitment 

Fee	 	Eurodollar and 

Letters of Credit	 	Base Rate
	1	 	< 1.00:1.00	 	0.125%	 	0.875%	 	0.00%
	12	 	>1.00:1.00 but < 1.75:11.00	 	0.200.15%	 	1.00%	 	0.00%
	23	 	≥>1.75:11.00 but < 2.75:11.00	 	0.250.20%	 	1.25%	 	0.25%
	34	 	≥>2.75:11.00 but

                                                                                                                               
 < 3.25:11.00
  
	 	0.300.25%	 	1.50%	 	0.50%
	45	 	≥>3.25:11.00	 	0.350.30%	 	2.001.75%	 	1.000.75%

 

Any increase or decrease in the Applicable
Rate resulting from a change in the Adjusted Total Debt to EBITDA Ratio shall become effective as of the first Business Day immediately
following the date a Compliance Certificate is delivered pursuant to Section 6.01(c); provided, however, that
if a Compliance Certificate is not delivered when due in accordance with such Section, then, upon the request of the Required Lenders,
Pricing Level 4 shall apply as of the first Business Day after the date on which such Compliance Certificate was required to have
been delivered and shall remain in effect until the date on which such Compliance Certificate is delivered. The Applicable Rate
in effect from the Amendment No. 69
Effective Date through the date on which the Compliance Certificate for the period ended May 31,
2015February 29, 2020 is delivered to the
Administrative Agent shall be determined based upon Pricing Level 2.

 

“Approved
Fund” means any Fund that is administered or managed by (a) a Lender, (b) an Affiliate of a Lender or (c) an
entity or an Affiliate of an entity that administers or manages a Lender.

 

“Arranger”
or “Arrangers” means Merrill Lynch, Pierce, Fenner & Smith Incorporated, Wells Fargo Securities, LLC, Citigroup
Global Markets, Inc. and SunTrust Robinson Humphrey, Inc., each in its capacity as joint lead arranger.

 

 

“Asset Disposition”
means any Transfer of property having a Disposition Value of $5,000,000 or more except:

 

(a)              
any

 

    3

     

    

 

(i)                
Transfer from a Restricted Subsidiary to the Borrower or a Wholly-Owned Restricted Subsidiary;

 

(ii)             
Transfer from the Borrower to a Wholly-Owned Restricted Subsidiary;

 

(iii)           
Transfer from the Borrower to a Restricted Subsidiary (other than a Wholly-Owned Restricted Subsidiary) or from a
Restricted Subsidiary to another Restricted Subsidiary (other than a Wholly-Owned Restricted Subsidiary), which in either case
is for Fair Market Value; and

 

(iv)            
Transfer of property from the Borrower or any Restricted Subsidiary in connection with a sale-and-leaseback transaction
entered into within 365 days after the initial acquisition or construction of such property by the Borrower or any Restricted Subsidiary,

 

so long as,
with respect to each of the foregoing, immediately before and immediately after the consummation of any such Transfer and after
giving effect thereto, no Default or Event of Default exists; and

 

(b)              
any Transfer made in the ordinary course of business and involving only property that is either (i) inventory held
for rent or sale or (ii) equipment, fixtures, supplies or materials no longer required in the operation of the business of the
Borrower or any of its Restricted Subsidiaries or that is obsolete.

 

“Assignee
Group” means two or more Eligible Assignees that are Affiliates of one another or two or more Approved Funds managed
by the same investment advisor.

 

“Assignment
and Assumption” means an assignment and assumption entered into by a Lender and an assignee (with the consent of any
party whose consent is required by Section 10.06(b)), and accepted by the Administrative Agent, in substantially the
form of Exhibit F-1 or any other form (including electronic
documentation generated by use of an electronic platform) approved by the Administrative Agent.

 

“Attorney
Costs” means, with respect to any Person, all reasonable fees and charges of any counsel to such Person and all court
costs and similar legal expenses.

 

“Audited Financial
Statements” means the audited consolidated balance sheet of the Borrower and its Subsidiaries for the fiscal year ended
May 31, 2010, and the related consolidated statements of income or operations, shareholders’ equity and cash flows for such
fiscal year of the Borrower and its Subsidiaries, including the notes thereto.

 

“Availability
Period” means the period from and including the Closing Date to the earliest of (a) the Maturity Date, (b) the
date of termination of the Aggregate Commitments pursuant to Section 2.07, and (c) the date of termination of
the commitment of each Lender to make Loans and of the obligation of the L/C Issuer to make L/C Credit Extensions pursuant to Section 8.02.

 

    4

     

    

 

“Avborne
IRB Documents” means (i) that certain Letter of Credit Reimbursement Agreement dated as of September
1, 2011 between AAR Aircraft Services, Inc., an Illinois corporation, as successor by merger with Avborne Heavy Maintenance, Inc.,
a Florida corporation (formerly known as Professional Modification Services, Inc.) and Wells Fargo Bank, National Association,
a national banking association; (ii) that certain Loan Agreement dated as of August 1, 1998, between the Miami-Dade Industrial
Development Authority, a public body corporate and politic created and existing under the laws
of the State of Florida (particularly Chapter 159, Part III, Florida Statutes), and AAR Aircraft
Services, Inc., an Illinois corporation, as successor by merger with Avborne Heavy Maintenance, Inc., a Florida corporation (formerly
known as Professional Modification Services, Inc.), as amended by that certain First Amendment and Supplement to Loan Agreement,
dated as of May 1, 2000 and (iii) that certain Guaranty of Payment and Performance dated as of September 1, 2011 by AAR CORP.,
a Delaware corporation, to and for the benefit of Wells Fargo Bank, National Association, a national banking association, each
as amended, restated, supplemented or otherwise modified from time to time, and any replacements, substitutions or refinancing
of any of the foregoing.

 

“Aviation
Worldwide Acquisition” means the acquisition of Aviation Worldwide Services, L.L.C. and EP Aviation,
LLC and their subsidiaries pursuant to the Membership Interest Purchase Agreement, dated as of March 25, 2010, by and among Xe
Services LLC, AAR Airlift, LLC and AAR Corp., as amended as of April 7, 2010.

 

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

 

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

 

“Bank
of America” means Bank of America, N.A. and its successors.

 

“Bank Product
Agreements” means those certain cash management service agreements entered into from time to time between the Borrower
or any Restricted Subsidiary and a Lender or its Affiliates in connection with any of the Bank Products.

 

“Bank Product
Obligations” means all obligations, liabilities, contingent reimbursement obligations, fees, and expenses owing by the
Borrower or any Restricted Subsidiary to any Lender or its Affiliates 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 the Borrower or any Restricted Subsidiary is obligated to reimburse
to the Administrative Agent or any Lender as a result of the Administrative Agent or such Lender purchasing participations or executing
indemnities or reimbursement obligations with respect to the Bank Products provided to the Borrower or any Restricted Subsidiary
pursuant to the Bank Product Agreements.

 

    5

     

    

 

“Bank Products”
means any service or facility extended to the Borrower or any Restricted Subsidiary by any Lender or its Affiliates including:
(a) credit cards, (b) credit card processing services, (c) debit cards, (d) purchase cards, (e) ACH transactions, (f) cash management,
including controlled disbursement, accounts or services, or (g) Hedging Agreements.

 

“Bank
of America” means Bank of America, N.A. and its successors.

 

“Base Rate”
means for any day a fluctuating rate per annum equal to the highest of (a) the Federal Funds Rate plus 1/2 of 1%, (b) the
rate of interest in effect for such day as publicly announced from time to time by Bank of America as its “prime rate,”
and (c) the Eurodollar Rate plus 1.00%. The “prime rate” is a rate set by Bank of America based upon various factors
including Bank of America’s costs and desired return, general economic conditions and other factors, and is used as a reference
point for pricing some loans, which may be priced at, above, or below such announced rate. Any change in such prime rate announced
by Bank of America shall take effect at the opening of business on the day specified in the public announcement of such change.
If the Base Rate is being used as an alternate rate of interest pursuant
to Section 3.03 hereof, then the Base Rate shall be the greater of clauses (a) and (b) above and shall be determined without reference
to clause (c) above.

 

“Base Rate
Committed Loan” means a Committed Loan that is a Base Rate Loan.

 

“Base Rate
Loan” means a Loan that bears interest based on the Base Rate.

 

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

 

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

 

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

 

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

 

“Borrower
Materials” means any materials and/or information provided by or on behalf of the Borrower to the Lenders and L/C Issuer
under Section 6.01.

 

“Borrowing”
means a Committed Borrowing or a Swing Line Borrowing, as the context may require.

 

“Business
Day” means any day other than a Saturday, Sunday or other day on which commercial banks are authorized to close under
the Laws of, or are in fact closed in, the state where the Administrative Agent’s office with respect to Obligations denominated
in Dollars is located and if such day relates to any interest rate settings as to a Eurodollar Rate Loan denominated in dollars,
any fundings, disbursements, settlements and payments in Dollars in respect of any such Eurodollar Rate Loan, or any other dealings
in Dollars to be carried out pursuant to this Credit Agreement in respect of any such Eurodollar Rate Loan, means any such day
that is also a London Banking Day.

 

    6

     

    

 

“Capital Expenditures”
means all expenditures which, in accordance with GAAP, would be required to be capitalized and shown on the consolidated balance
sheet of the Borrower, including expenditures in respect of Capital Leases, but excluding expenditures made in connection with
the replacement, substitution or restoration of assets to the extent financed (a) from insurance proceeds (or other similar recoveries)
paid on account of the loss of or damage to the assets being replaced or restored or (b) with awards of compensation arising from
the taking by eminent domain or condemnation of the assets being replaced.

 

“Capital Lease”
means, with respect to any Person, any lease of (or other agreement conveying the right to use) any real or personal property by
such Person that, in conformity with GAAP, is accounted for as a capital lease on the balance sheet of such Person.

 

“Cargo/Precision
Companies” means Telair International GmbH and its Subsidiaries, Nordisk Aviation Products AS and its Subsidiaries, the
AAR Cargo (Telair US) business and the Precision Systems Manufacturing business (including Aerostructures & Interiors).

 

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

 

“Cash Equivalent
Investment” means, at any time, (a) any evidence of Debt, maturing not more than one year after such time, issued or
guaranteed by the United States Government or any agency thereof, (b) commercial paper, maturing not more than one year from the
date of issue, or corporate demand notes, in each case (unless issued by a Lender or its holding company) rated at least A-l by
Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc. or P-l by Moody’s Investors Service,
Inc., (c) any deposit account, certificate of deposit, time deposit or banker’s acceptance, maturing not more than one year
after such time, or any overnight Federal Funds transaction that is issued or sold by any Lender or its holding company (or by
a commercial banking institution that is a member of the Federal Reserve System and has a combined capital and surplus and undivided
profits of not less than $500,000,000), (d) any repurchase agreement entered into with any Lender (or commercial banking institution
of the nature referred to in clause (c)) which (i) is secured by a fully perfected security interest in any obligation of the type
described in any of clauses (a) through (c) above and (ii) has a market value at the time such repurchase agreement is entered
into of not less than 100% of the repurchase obligation of such Lender (or other commercial banking institution) thereunder, (e)
money market accounts or mutual funds which invest exclusively in assets satisfying the foregoing requirements, and (f) other short
term liquid investments approved in writing by the Administrative Agent.

 

    7

     

    

 

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

 

“Change of
Control” means the occurrence of any one or more of the following events: (a) any person (as such term is used in Section
13(d) of the Exchange Act), or two or more persons acting in concert, acquires beneficial ownership (as that term is defined in
Rule 13d-3 under the Exchange Act), of more than 50% of the outstanding capital stock of the Borrower entitled to vote for the
election of directors; or (b) either (x) a merger or consolidation or other business combination of the Borrower with one or more
other corporations as a result of which the beneficial owners of the outstanding voting stock of the Borrower immediately prior
to such business combination beneficially own (either by remaining outstanding or by being converted into voting securities of
the surviving or resulting corporation or any parent thereof) less than 60% of the outstanding voting stock of the Borrower or
the surviving or resulting corporation or any parent thereof immediately after such merger or consolidation or business combination,
or (y) a transfer of substantially all of the assets of the Borrower other than to an entity of which the Borrower owns at least
80% of the voting stock; or (c) the election, over any period of time, to the Board of Directors of the Borrower without the recommendation
or approval of the incumbent Board of Directors of the Borrower, of the lesser of (x) three directors, or (y) directors constituting
a majority of the number of directors of the Borrower then in office.

 

“Closing Date”
means the first date all the conditions precedent in Section 4.01
are satisfied or waived in accordance with Section 10.01April
12, 2011.

 

“Code”
means the Internal Revenue Code of 1986.

 

“Commitment”
means, as to each Lender, its obligation to (a) make Committed Loans to the Borrower pursuant to Section 2.01,
(b) purchase participations in L/C Obligations, and (c) purchase participations in Swing Line Loans, in an aggregate
principal amount at any one time outstanding not to exceed the amount set forth opposite such Lender’s name on Schedule 2.01
or in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable, as such amount may be
adjusted from time to time in accordance with this Agreement.

    8

     

    

 

“Committed
Borrowing” means a borrowing consisting of simultaneous Committed Loans of the same Type and, in the case of Eurodollar
Rate Committed Loans, having the same Interest Period made by each of the Lenders pursuant to Section 2.01.

 

“Committed
Loan” has the meaning specified in Section 2.01.

 

“Committed
Loan Notice” means a notice of (a) a Committed Borrowing, (b) a conversion of Committed Loans from one Type
to the other, or (c) a continuation of Eurodollar Rate Committed Loans, pursuant to Section 2.02(a), which, if
in writing, shall be substantially in the form of Exhibit A or such other form as may be approved by the Administrative
Agent (including any form on an electronic platform or electronic transmission system as shall be approved by the Administrative
Agent), appropriately completed and signed by a Responsible Officer of the Borrower.

 

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

 

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

 

“Computation
Period” means the period of four consecutive Fiscal Quarters ending on the last day of each Fiscal Quarter.

 

“Consolidated
Assets” means, at any time, the total assets of the Borrower and its Restricted Subsidiaries which would be shown as
assets on a consolidated balance sheet of the Borrower and its Restricted Subsidiaries as of such time prepared in accordance with
GAAP, after eliminating all amounts properly attributable to minority interests, if any, in the stock and surplus of Restricted
Subsidiaries.

 

“Consolidated
Net Income” means, with respect to the Borrower and its Restricted Subsidiaries for any period, the net income (or loss)
of the Borrower and its Restricted Subsidiaries for such period (taken as a cumulative whole), as determined in accordance with
GAAP, after eliminating all offsetting debits and credits between the Borrower and its Restricted Subsidiaries and all other items
required to be eliminated in the course of the preparation of consolidated financial statements of the Borrower and its Restricted
Subsidiaries in accordance with GAAP.

 

“Consolidated
Rentals” means, for any Computation Period for the Borrower and its Restricted Subsidiaries, the aggregate fixed amounts
payable by the Borrower and its Restricted Subsidiaries, determined on a consolidated basis, under Operating Leases.

 

“Contingent
Liabilities” means, with respect to any Person, any obligation (except the endorsement in the ordinary course of business
of negotiable instruments for deposit or collection) of such Person guaranteeing or in effect guaranteeing any Debt, dividend or
other obligation of any other Person in any manner, whether directly or indirectly, including obligations incurred through an agreement,
contingent or otherwise, by such Person: (a) to purchase such Debt or obligation or any property constituting security therefor;
(b) to advance or supply funds (i) for the purchase or payment of such Debt or obligation, or (ii) to maintain any working capital
or other balance sheet condition or any income statement condition of any other Person or otherwise to advance or make available
funds for the purchase or payment of such Debt or obligation; (c) to lease properties or to purchase properties or services primarily
for the purpose of assuring the owner of such Debt or obligation of the ability of any other Person to make payment of the Debt
or obligation; or (d) otherwise to assure the owner of such Debt or obligation against loss in respect thereof. In any computation
of the Debt or other liabilities of the obligor under any Contingent Liability, the Debt or other obligations that are the subject
of such Contingent Liability shall be assumed to be direct obligations of such obligor.

 

    9

     

    

 

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

 

“Covenant
Capital Expenditures” means Capital Expenditures minus, Excluded
New Contract Aircraft Purchases.

 

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

 

“Debt”
of any Person means, without duplication, (a) its liabilities for borrowed money determined in accordance with GAAP; (b) its liabilities
for the deferred purchase price of property acquired by such Person (excluding accounts payable and other accrued liabilities arising
in the ordinary course of business but including all liabilities created or arising under any conditional sale or other title retention
agreement with respect to any such property); (c) its Capital Lease obligations; (d) all liabilities for borrowed money (other
than Nonrecourse Debt) secured by any Lien with respect to any property owned by such Person (whether or not it has assumed or
otherwise become liable for such liabilities); (e) all obligations, contingent or otherwise, with respect to the face amount of
all letters of credit (whether or not drawn), bankers’ acceptances and similar obligations issued for the account of such
Person (including the Letters of Credit); (f) all Hedging Obligations of such Person; and (g) any Contingent Liability of such
Person with respect to liabilities of a type described in any of clauses (a) through (f) hereof. Debt of any Person shall include
all obligations of such Person of the character described in clauses (a) through (g) to the extent such Person remains legally
liable in respect thereof notwithstanding that any such obligation is deemed to be extinguished under GAAP. For further certainty,
obligations of the Borrower and its Restricted Subsidiaries as lessee in respect of operating leases (including “leveraged
leases” and “synthetic leases” that are accounted for as operating leases) under GAAP shall not constitute “Debt”
and obligations of the Borrower and its Subsidiaries in respect of intercompany expenses, billings and other charges between and
among the Borrower and its Subsidiaries consistent with their historical business practices shall not constitute “Debt”.

 

“Debt Prepayment
Application” means, with respect to any Transfer of property, the application by the Borrower or its Restricted Subsidiaries
of cash in an amount equal to the Net Proceeds Amount with respect to such Transfer to pay Debt of the Borrower (other than (i)
Subordinated Debt and (ii) Debt owing to the Borrower, any of its Subsidiaries or any Affiliate).

 

    10

     

    

 

“Debt
Securities” means securities evidencing the indebtedness of the Borrower or a Subsidiary issued in the
public capital markets.

 

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

 

“Default”
means any event or condition that constitutes an Event of Default or that, with the giving of any notice, the passage of time,
or both, would be an Event of Default.

 

“Default Rate”
means (a) when used with respect to Obligations other than Letter of Credit Fees, an interest rate equal to (i) the Base
Rate plus (ii) the Applicable Rate, if any, applicable to Base Rate Loans plus (iii) 2% per annum; provided,
however, that with respect to a Eurodollar Rate Loan, the Default Rate shall be an interest rate equal to the interest rate
(including any Applicable Rate) otherwise applicable to such Loan plus 2% per annum, and (b) when used with respect to Letter
of Credit Fees, a rate equal to the Applicable Rate plus 2% per annum.

 

“Defaulting
Lender” means, subject to Section 2.18(b), any Lender that (a) has failed to (i) fund all or any portion
of its Loans within two Business Days of the date such Loans were required to be funded hereunder unless such Lender notifies the
Administrative Agent and the Borrower in writing that such failure is the result of such Lender’s determination that one
or more conditions precedent to funding (each of which conditions precedent, together with any applicable default, shall be specifically
identified in such writing) has not been satisfied, or (ii) pay to the Administrative Agent, any L/C Issuer, and Swing Line Lender
or any other Lender any other amount required to be paid by it hereunder (including in respect of its Loans or participations in
respect of Letters of Credit or Swing Line Loans) within two Business Days of the date required to be funded by it hereunder, (b) has
notified the Borrower, the Administrative Agent or any L/C Issuer or Swing Line Lender in writing that it does not intend to comply
with its funding obligations, or has made a public statement to that effect with respect to its funding obligations hereunder or
under other agreements in which it commits to extend credit (unless such writing or public statement relates to such Lender’s
obligation to fund a Loan hereunder and states that such position is based on such Lender’s determination that a condition
precedent to funding (which condition precedent, together with any applicable default, shall be specifically identified in such
writing or public statement) cannot be satisfied), (c) has failed, within three Business Days after request by the Administrative
Agent or the Borrower, to confirm in a writing to the Administrative Agent and the Borrower that it will comply with its funding
obligations hereunder (provided that such Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon receipt
of such written confirmation by the Administrative Agent and the Borrower), or (d) has, or has a direct or indirect parent
company that has, (i) become the subject of a proceeding under any Debtor Relief Law, or
(ii) had appointed for it a receiver, custodian, conservator, trustee, administrator, assignee for the benefit
of creditors or similar Person charged with reorganization or liquidation of its business or assets, including the Federal Deposit
Insurance Corporation or any other state or federal regulatory authority acting in such a capacity or
(iii) become the subject of a Bail-In Action; provided that a Lender shall not be a Defaulting Lender solely
by virtue of the ownership or acquisition of any Equity Interest in that Lender or any direct or indirect parent company thereof
by a Governmental Authority so long as such ownership interest does not result in or provide such Lender with immunity from the
jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit
such Lender (or such Governmental Authority) to reject, repudiate, disavow or disaffirm any contracts or agreements made with such
Lender. Any determination by the Administrative Agent that a Lender is a Defaulting Lender under clauses (a) through (d) above
shall be conclusive and binding absent manifest error, and such Lender shall be deemed to be a Defaulting Lender (subject to Section
2.18(b)) upon delivery of written notice of such determination to the Borrower, each L/C Issuer, each Swing Line Lender and each
Lender.

 

    11

     

    

 

“Disposition”
or “Dispose” means the sale, transfer, license, lease or other disposition (including any sale and leaseback
transaction) of any property by any Person, including any sale, assignment, transfer or other disposal, with or without recourse,
of any notes or accounts receivable or any rights and claims associated therewith.

 

“Disposition
Value” means, at any time, with respect to any property

 

(a)       in
the case of property that does not constitute Restricted Subsidiary Stock, the book value thereof, valued at the time of such Disposition
in good faith by the Borrower, and

 

(b)       in
the case of property that constitutes Restricted Subsidiary Stock, an amount equal to that percentage of book value of the assets
of the Restricted Subsidiary that issued such stock as is equal to the percentage that the book value of such Restricted Subsidiary
Stock represents of the book value of all of the outstanding capital stock of such Restricted Subsidiary (assuming, in making such
calculations, that all securities convertible into such capital stock are so converted and giving full effect to all transactions
that would occur or be required in connection with such conversion) determined at the time of the Disposition thereof, in good
faith by the Borrower.

 

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

 

“Domestic
Subsidiary” means any Subsidiary that is organized under the laws of any political subdivision of the United States.

 

    12

     

    

 

“EBITDA”
means, for any period, without duplication, Consolidated
Net Income for such period plus, to the extent deducted in determining such Consolidated Net Income, the
sum of (i) Interest Expense, (ii) income and franchise
tax expense, (iii) depreciation and amortization, losses
(less gains) from Asset Dispositions, other expenses and fees in connection with the consummation of the transaction evidenced
by this Agreement, extraordinary losses (less extraordinary gains), and transaction costs incurred in connection with the issuance
by the Borrower of high-yield debt or equity for such period, plus, to the extent deducted in determining such Consolidated Net
Income, (x) any losses or charges relating to the sale or disposition of the Cargo/Precision Companies, (y) any losses or expenses,
including any make-whole paid, relating to the early redemption of the Borrower’s 71⁄4% Senior Notes due 2022 and (z)
any costs associated with the Borrower’s repurchase of up to $250,000,000 of its common stock pursuant to a tender offer,
accelerated stock buyback or open market purchase program, and minus, to the extent included in determining such Consolidated Net
Income, any gains relating to the sale or disposition of the Cargo/Precision Companies or the early redemption of the Borrower’s
71⁄4% Senior Notes due 2022(iv) any non-cash charges
and/or losses (including any impairment charge or asset write-off or write-down (including related to intangible assets (including
goodwill), long-lived assets, and investments in debt and equity securities)), (v) except to the extent added back pursuant to
the foregoing clause (iv), unusual, non-recurring or exceptional expenses, losses or charges (including any unusual, non-recurring
or exceptional operating expenses, losses or charges directly attributable to the implementation of cost savings initiatives),
severance, relocation costs, integration and facilities’ opening costs and other business optimization expenses and operating
improvements (including related to new product introductions), systems development and establishment costs, recruiting fees, signing
costs, retention or completion bonuses, transition costs, costs related to closure/consolidation of facilities, internal costs
in respect of strategic initiatives and curtailments or modifications to pension and post-retirement employee benefit plans (including
any settlement of pension liabilities), contract terminations and professional and consulting fees incurred in connection with
any of the foregoing, provided that the aggregate amount of expenses, losses and charges added back pursuant to this clause (v)
for any applicable period (A) shall not exceed 10% of EBITDA for such period and (B) when combined with any amounts added back
pursuant to clauses (vi) and (vii) below for such period, shall not exceed 20% of EBITDA for such period (before giving effect
to any amounts added back pursuant to this clause (v) and such clauses (vi) and (vii), but without giving effect to any proviso
contained in this clause (v) or such clauses (vi) and (vii)), (vi) except to the extent added back pursuant to the foregoing clause
(iv), expected pro forma “run rate” cost savings, operational expense reductions, other operating improvements or synergies
related to any acquisitions, mergers and other business combinations, divestitures, restructurings, or other initiatives after
the Closing Date, in each case projected by the Borrower in good faith to be realized as the result of actions taken or with respect
to which substantial steps have been taken (in the good faith determination of the Borrower) within 18 months after such transaction
or initiative is consummated, net of the amount of actual benefits realized during such period from such actions, provided that
(A) such “run rate” cost savings, expense reductions, improvements and synergies are reasonably identifiable and factually
supportable (in the good faith determination of the Borrower) and certified by the chief financial officer or other Responsible
Officer of the Borrower, and (B) the aggregate amount of “run rate” cost savings, expense reductions, improvements
and synergies added back pursuant to this clause (vi) for any applicable period (I) shall not exceed 10% of EBITDA for such period
and (II) when combined with any amounts added back pursuant to clause (v) above and clause (vii) below for such period, shall not
exceed 20% of EBITDA for such period (before giving effect to any amounts added back pursuant to this clause (vi) and such clauses
(v) and (vii), but without giving effect to any proviso contained in this clause (vi) or such clauses (v) and (vii)), (vii) except
to the extent added back pursuant to the foregoing clause (iv), restructuring charges, accruals or reserves (including restructuring
and integration costs related to acquisitions and adjustments to existing reserves), whether or not classified as a restructuring
expense on the consolidated financial statements, provided that the aggregate amount of restructuring charges, accruals or reserves
added back pursuant to this clause (vii) for any applicable period (A) shall not exceed 10% of EBITDA for such period and (B) when
combined with any amounts added back pursuant to clauses (v) and (vi) above for such period, shall not exceed 20% of EBITDA for
such period (before giving effect to any amounts added back pursuant to this clause (vii) and such clauses (v) and (vi), but without
giving effect to any proviso contained in this clause (vii) or such clauses (v) and (vi)), (viii) non-controlling or minority interest
expense consisting of income attributable to third parties in non-wholly owned subsidiaries, (ix) accruals, payments, fees, costs,
charges and expenses with respect to any transaction not prohibited by the Credit Agreement, including, without limitation, permitted
dispositions, investments, issuance of equity interests or indebtedness or early extinguishment of indebtedness, hedging agreements
or other derivative instruments, in each case whether or not consummated, (x) earn-out and contingent consideration obligations
(including to the extent accounted for as bonuses or otherwise) and adjustments thereof and purchase price adjustments, in each
case in connection with acquisitions or Investments and (xi) losses or discounts on sales of receivables and related assets in
connection with any receivables financings. EBITDA shall be calculated on a pro forma basis to give effect to (a)
any Acquisition by the Borrower or any of its Restricted Subsidiaries consummated at any time on or after the first day of a Computation
Period as if such Acquisition had been consummated on the first day of such Computation Period and (b) any Disposition or
discontinuance of operations by the Borrower or any of its Restricted Subsidiaries consummated at any time on or after the first
day of a Computation Period as if such Disposition or discontinuance had been consummated on the first day of such Computation
Period.

 

    13

     

    

 

“EBITDAR”
means, for any period, EBITDA plus, to the extent deducted from Consolidated Net Income when determining EBITDA, Consolidated Rentals
for such period.

 

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

 

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

 

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

 

“Eligible
Assignee” means any Person that meets the requirements to be an assignee under Section 10.06(b)(iii), and
(v) (subject to such consents, if any, as may be required under Section 10.06(b)(iii)).

 

“Environmental
Claim” means all claims, however asserted, by any governmental, regulatory or judicial authority or other Person alleging
potential liability or responsibility for violation of any Environmental Law, or for release or injury to the environment.

 

“Environmental
Laws” means any and all Federal, state, local, and foreign statutes, laws, regulations, ordinances, rules, judgments,
interpretations, orders, decrees, permits, concessions, grants,
franchises, licenses, agreements or governmental restrictions relating to pollution and the protection of human
health and safety, the environment and natural resources
or the release of any materials into the environment, including those related to hazardous substances or wastes, air emissions
and discharges to waste or public systems.

 

    14

     

    

 

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

 

“Equity Interests”
means, with respect to any Person, all of the shares of capital stock of (or other ownership or profit interests in) such Person,
all of the warrants, options or other rights for the purchase or acquisition from such Person of shares of capital stock of (or
other ownership or profit interests in) such Person, all of the securities convertible into or exchangeable for shares of capital
stock of (or other ownership or profit interests in) such Person or warrants, rights or options for the purchase or acquisition
from such Person of such shares (or such other interests), and all of the other ownership or profit interests in such Person (including
partnership, member or trust interests therein), whether voting or nonvoting, and whether or not such shares, warrants, options,
rights or other interests are outstanding on any date of determination.

 

“ERISA”
means the Employee Retirement Income Security Act of 1974, as amended,
and the rules and regulations promulgated thereunder.

 

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

 

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

 

    15

     

    

 

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

 

“Eurodollar
Rate” means:

 

(a) for any
Interest Period with respect to a Eurodollar Rate Loan, the rate per annum equal to the London Interbank Offered Rate (“LIBOR”)
or a comparable or successor rate, which rate is approved by the Administrative Agent, as published on the applicable Bloomberg
screen page (or such other commercially available source providing such quotations as may designated by the Administrative Agent
from time to time) at approximately 11:00 a.m., London time, two Business Days prior to the commencement of such Interest Period,
for Dollar deposits (for delivery on the first day of such Interest Period) with a term equivalent to such Interest Period; and

 

(b) for any
interest rate calculation with respect to a Base Rate Loan on any date, the rate per annum equal to LIBOR, at approximately 11:00
a.m. London time, determined two Business Days prior to such date for Dollar deposits with a term of one month commencing that
date;

 

provided, that,
(i) to the extent a comparable or successor rate is approved by the Administrative Agent in connection herewith, the approved rate
shall be applied to the applicable Interest Period in a manner consistent with market practice; provided, further,
that, to the extent such market practice is not administratively feasible for the Administrative Agent, such approved rate
shall be applied to the applicable Interest Period as otherwise reasonably determined by the Administrative Agent and (ii) if the
Eurodollar Rate shall be less than zero, such rate shall be deemed to be zero for purposes of this Agreement.

 

“Eurodollar
Rate Committed Loan” means a Committed Loan that bears interest at a rate based on clause (a) of the definition
of “Eurodollar Rate.”

 

“Eurodollar
Rate Loan” means a Eurodollar Rate Committed Loan.

 

“Event of
Default” has the meaning specified in Section 8.01.

 

“Exchange
Act” means the Securities Exchange Act of 1934.

 

“Excluded
New Contract Aircraft Purchases” means New Aircraft Purchases not to exceed $100,000,000 at any point
during the immediately preceding twelve month period.

 

“Excluded Swap
Obligation” means, with respect to any Guarantor, any Swap Obligation if, and only to the extent that, all or a portion
of the guaranty of such Guarantor of, or the grant by such Guarantor of a security interest to secure, such Swap Obligation (or
any guaranty thereof) is or becomes illegal under the Commodity Exchange Act or any rule, regulation or order of the Commodity
Futures Trading Commission (or the application or official interpretation of any thereof), including by virtue of such Guarantor’s
failure for any reason to constitute an “eligible contract participant” as defined in the Commodity Exchange Act and
the regulations thereunder at the time the guaranty of such Guarantor or the grant of such security interest becomes effective
with respect to such Swap Obligation. If a Swap Obligation arises under a master agreement governing more than one swap, such exclusion
shall apply only to the portion of such Swap Obligation that is attributable to swaps for which such guaranty or security interest
is or becomes illegal.

 

    16

     

    

 

“Excluded
Taxes” means, with respect to the Administrative Agent, any Lender, the L/C Issuer or any other recipient of any payment
to be made by or on account of any obligation of the Borrower hereunder, (a) taxes imposed on or measured by its overall net
income (however denominated), and franchise taxes imposed on it (in lieu of net income taxes), by the jurisdiction (or any political
subdivision thereof) under the Laws of which such recipient is organized or in which its principal office is located or, in the
case of any Lender, in which its applicable Lending Office is located, (b) any branch profits taxes imposed by the United
States or any similar tax imposed by any other jurisdiction in which the Borrower is located, (c) any backup withholding tax
that is required by the Code to be withheld from amounts payable to a Lender that has failed to comply with clause (A) of
Section 3.01(e)(ii), and (d) in the case of a Foreign Lender
(other than an assignee pursuant to a request by the Borrower under Section 10.13), any United States withholding tax
that (i) is required to be imposed on amounts payable to such Foreign Lender pursuant to the Laws in force at the time such
Foreign Lender becomes a party hereto (or designates a new Lending Office) or (ii) is attributable to such Foreign Lender’s
failure or inability (other than as a result of a Change in Law) to comply with clause (B) of Section 3.01(e)(ii),
except to the extent that such Foreign Lender (or its assignor, if any) was entitled, at the time of designation of a new Lending
Office (or assignment), to receive additional amounts from the Borrower with respect to such withholding tax pursuant to Section 3.01(a)(ii)
or (c), and (e) any United States withholding tax imposed pursuant to FATCA.

 

“Existing
Credit Agreement” means that certain Credit Agreement, dated as of August 31, 2006, among AAR Corp., the lenders
from time to time party thereto and Bank of America, N.A. (as successor by merger to LaSalle Bank National Association) as amended
from time to time.

 

“Existing
Letters of Credit” means those letters of credit set forth on Schedule 2.04 which shall be deemed to have been
issued pursuant to the terms and conditions hereof and shall constitute Letters of Credit hereunder.

 

“Fair Market
Value” means, at any time and with respect to any property, the sale value of such property that would be realized in
an arm’s-length sale at such time between an informed and willing buyer and an informed and willing seller (neither being
under a compulsion to buy or sell).

 

“FASB ASC”
means the Accounting Standards Codification of the Financial Accounting Standards Board.

 

“FATCA”
means Sections 1471 through 1474 of the Code, as of March 24, 2015 (or any amended or successor version that is substantively comparable
and not materially more onerous to comply with), any current or future regulations or official interpretations thereof and any
agreement entered into pursuant to Section 1471(b)(1) of the Code and
any fiscal or regulatory legislation, rules or practices adopted pursuant to any intergovernmental agreement, treaty or convention
among Governmental Authorities and implementing such Sections of the Code.

 

    17

     

    

 

“Federal Funds
Rate” means, for any day, the rate per annum equal to the weighted average of the rates on overnight Federal funds transactions
with members of the Federal Reserve System arranged by Federal funds brokers on such day, as published by the Federal Reserve Bank
of New York on the Business Day next succeeding such day; provided that (a) if such day is not a Business Day, the
Federal Funds Rate for such day shall be such rate on such transactions on the next preceding Business Day as so published on the
next succeeding Business Day, and (b) if no such rate is so published on such next succeeding Business Day, the Federal Funds
Rate for such day shall be the average rate (rounded upward, if necessary, to a whole multiple of 1/100 of 1%) charged to Bank
of America on such day on such transactions as determined by the Administrative Agent.

 

“Fee Letter”
means the letter agreement, dated March 12September
13, 20152019,
among the Borrower, the Administrative Agent and the Arranger.

 

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

 

“Fiscal Year”
means the fiscal year of the Borrower and its Subsidiaries, which period shall be the 12-month period ending on May 31st of each
year. References to a Fiscal Year with a number corresponding to any calendar year (e.g., “Fiscal Year 2011”) refer
to the Fiscal Year ending on May 31st of such calendar year.

 

“Fixed
Charge Coverage Ratio” means, for any Computation Period, the ratio of (a) the total for such period
of EBITDAR for the Borrower and its Restricted Subsidiaries minus the sum of net income
taxes paid in cash by the Borrower and its Restricted Subsidiaries and all Covenant Capital Expenditures incurred by the Borrower
and its Restricted Subsidiaries to (b) the sum for such period of (i) cash Interest Expense paid by the Borrower and its Restricted
Subsidiaries plus (ii) required payments of principal of Funded Debt for the Borrower
and its Restricted Subsidiaries (excluding (A) the Loans and revolving loans under the Huntington Debt), (B) required principal
payments under the Borrower’s notes due May 15, 2011, the aggregate initial principal amount of which is $55,000,000, (C)
required principal payments under the Borrower’s convertible notes due March 1, 2014 and March 1, 2016, (D) required repurchases
of the Borrower’s convertible notes due February 1, 2026, and (E) the loans under the Wood Dale Mortgage Documents) plus
(iii) Consolidated Rentals paid by the Borrower and its Restricted Subsidiaries plus (iv) Restricted Payments paid by the
Borrower during such Computation Period.

 

“Foreign Lender”
means any Lender that is organized under the Laws of a jurisdiction other than that in which the Borrower is resident for tax purposes
(including such a Lender when acting in the capacity of the L/C Issuer). For purposes of this definition, the United States, each
State thereof and the District of Columbia shall be deemed to constitute a single jurisdiction.

 

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

 

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

 

    18

     

    

 

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

 

“Funded Debt”
means, as to any Person, all Debt of such Person that matures more than one year from the date of its creation (or is renewable
or extendible, at the option of such Person, to a date more than one year from such date).

 

“GAAP”
means generally accepted accounting principles in the United States set forth in the opinions and pronouncements of the Accounting
Principles Board and the American Institute of Certified Public Accountants and statements and pronouncements of the Financial
Accounting Standards Board or such other principles as may be approved by a significant segment of the accounting profession in
the United States, that are applicable to the circumstances as of the date of determination, consistently applied.

 

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

 

“Guarantee”
means, as to any Person, (a) any obligation, contingent or otherwise, of such Person guaranteeing or having the economic effect
of guaranteeing any Debt or other obligation payable or performable by another Person (the “primary obligor”) in any
manner, whether directly or indirectly, and including any obligation of such Person, direct or indirect, (i) to purchase or
pay (or advance or supply funds for the purchase or payment of) such Debt or other obligation, (ii) to purchase or lease property,
securities or services for the purpose of assuring the obligee in respect of such Debt or other obligation of the payment or performance
of such Debt or other obligation, (iii) to maintain working capital, equity capital or any other financial statement condition
or liquidity or level of income or cash flow of the primary obligor so as to enable the primary obligor to pay such Debt or other
obligation, or (iv) entered into for the purpose of assuring in any other manner the obligee in respect of such Debt or other
obligation of the payment or performance thereof or to protect such obligee against loss in respect thereof (in whole or in part),
or (b) any Lien on any assets of such Person securing any Debt or other obligation of any other Person, whether or not such
Debt or other obligation is assumed by such Person (or any right, contingent or otherwise, of any holder of such Debt to obtain
any such Lien). The amount of any Guarantee shall be deemed to be an amount equal to the stated or determinable amount of the related
primary obligation, or portion thereof, in respect of which such Guarantee is made or, if not stated or determinable, the maximum
reasonably anticipated liability in respect thereof as determined by the guaranteeing Person in good faith. The term “Guarantee”
as a verb has a corresponding meaning.

 

    19

     

    

 

“Guarantors”
means, collectively, each existing and future direct and indirect Significant Subsidiary that is a Domestic Subsidiary and each
other Domestic Subsidiary that from time to time shall upon the request of the Borrower become a party to the Guaranty.

 

“Guaranty”
means the Guaranty made by the Guarantors in favor of the Administrative Agent and the Lenders, substantially in the form of Exhibit G.

 

“Hazardous
Materials” means all explosive or radioactive substances or wastes and all hazardous or toxic substances, wastes or other
pollutants, including petroleum or petroleum distillates, asbestos or asbestos-containing materials, polychlorinated biphenyls,
radon gas, infectious or medical wastes and all other substances or wastes of any nature regulated pursuant to any Environmental
Law.

 

“Hedging Agreement”
means any interest rate, currency or commodity swap agreement, cap agreement or collar agreement, and any other agreement or arrangement
designed to protect a Person against fluctuations in interest rates, currency exchange rates or commodity prices.

 

“Hedging Obligation”
means, with respect to any Person, any liability of such Person under any Hedging Agreement.

 

“Hedging Termination
Value” means, in respect of any one or more Hedging Agreements, after taking into account the effect of any legally enforceable
netting agreement relating to such Hedging Agreements, (a) for any date on or after the date such Hedging Agreements have been
closed out and termination value(s) determined in accordance therewith, such termination value(s), and (b) for any date prior to
the date referenced in clause (a), the amount(s) determined as the mark-to-market value(s) for such Hedging Agreements, as determined
based upon one or more mid-market or other readily available quotations provided by any recognized dealer in such Hedging Agreements
(which may include a Lender or any Affiliate of a Lender).

 

“Huntington
Debt” means the Debt outstanding under that certain Master Loan Agreement dated as of April 22, 2010 between EP Aviation,
LLC and The Huntington National Bank, and its successors and assigns, as amended, restated, supplemented or otherwise modified
from time to time.

 

“Impacted
Loans” has the meaning specified in Section 3.03(a).

 

“Indemnified
Taxes” means Taxes other than Excluded Taxes.

 

“Indemnitees”
has the meaning specified in Section 10.04(b).

 

“Information”
has the meaning specified in Section 10.07.

 

“Intangible
Assets” means assets that are considered to be intangible assets under GAAP, including customer lists, goodwill, computer
software, copyrights, trade names, trademarks, patents, franchises, licenses, unamortized deferred charges, unamortized debt discount
and capitalized research and development costs.

 

    20

     

    

 

 

“Integration
Expenses” means anticipated capitalized expenses related to the integration of an Acquisition permitted
pursuant to this Agreement up to a maximum amount of 5% of the purchase price of an Acquisition expected to be incurred within
the first six months following the consummation of such Acquisition as described in a schedule provided by the Borrower describing
such expenses, with such schedule subject to approval by the Administrative Agent.

 

“Interest
Coverage Ratio” means, for any Computation Period, the ratio of (a) the total for such period of EBITDA for the Borrower
and its Restricted Subsidiaries to (b) the total for such period of required payments of cash Interest Expense by the Borrower
and its Restricted Subsidiaries.

 

“Interest
Expense” means for any period the consolidated net interest expense of the Borrower and its Restricted Subsidiaries for
such period (including all imputed interest on Capital Leases).

 

“Interest
Payment Date” means, (a) as to any Loan other than a Base Rate Loan, the last day of each Interest Period applicable
to such Loan and the Maturity Date; provided, however, that if any Interest Period for a Eurodollar Rate Loan exceeds
three months, the respective dates that fall every three months after the beginning of such Interest Period shall also be Interest
Payment Dates; and (b) as to any Base Rate Loan (including a Swing Line Loan), the last Business Day of each calendar month
and the Maturity Date.

 

“Interest
Period” means, as to each Eurodollar Rate Loan, the period commencing on the date such Eurodollar Rate Loan is disbursed
or (in the case of any Eurodollar Rate Committed Loan) converted to or continued as a Eurodollar Rate Loan and ending on the date
one, two, three or six months thereafter, as selected by the Borrower in its Committed Loan Notice; provided that:

 

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

 

(ii)              any
Interest Period pertaining to a Eurodollar Rate Loan that begins on the last Business Day of a calendar month (or on a day for
which there is no numerically corresponding day in the calendar month at the end of such Interest Period) shall end on the last
Business Day of the calendar month at the end of such Interest Period; and

 

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

 

“Investment”
means, as to any Person, any direct or indirect acquisition or investment by such Person, whether by means of (a) the purchase
or other acquisition of Equity Interest of another Person, (b) a loan, advance or capital contribution to, or Guarantee or
assumption of Debt of, another Person or (c) the purchase or other acquisition (in one transaction or a series of transactions)
of assets of another Person that constitute a business unit. For purposes of covenant compliance, the amount of any Investment
shall be the amount actually invested, without adjustment for subsequent increases or decreases in the value of such Investment.

 

 

    21

     

     

“IRS”
means the United States Internal Revenue Service.

 

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

 

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

 

“January
2012 Debt Securities” means the unsecured notes issued in the capital markets by the Borrower through
January 31, 2012.

 

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

 

“L/C Advance”
means, with respect to each Lender, such Lender’s funding of its participation in any L/C Borrowing in accordance with its
Applicable Percentage.

 

“L/C Borrowing”
means an extension of credit resulting from a drawing under any Letter of Credit which has not been reimbursed on the date when
made or refinanced as a Committed Borrowing.

 

“L/C Credit
Extension” means, with respect to any Letter of Credit, the issuance thereof or extension of the expiry date thereof,
or the increase of the amount thereof.

 

“L/C Issuer”
means Bank of America, Wells Fargo Bank, N.A., Citibank, N.A. or another Lender designated by the Borrower and approved by the
Administrative Agent, in its capacity as issuer of Letters of Credit hereunder, or any successor issuer of Letters of Credit hereunder.

 

“L/C Obligations”
means, as at any date of determination, the aggregate amount available to be drawn under all outstanding Letters of Credit plus
the aggregate of all Unreimbursed Amounts, including all L/C Borrowings. For purposes of computing the amount available to be drawn
under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06.
For all purposes of this Agreement, if on any date of determination a Letter of Credit has expired by its terms but any amount
may still be drawn thereunder by reason of the operation of Rule 3.14 of the ISP, such Letter of Credit shall be deemed to
be “outstanding” in the amount so remaining available to be drawn.

 

 

    22

     

     

“Lender”
has the meaning specified in the introductory paragraph hereto and, as the context requires, includes the Swing Line Lender.

 

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

 

“Letter of
Credit” means any commercial letter of credit or any standby letter of credit issued hereunder and shall include the
Existing Letters of Credit.

 

“Letter of
Credit Application” means an application and agreement for the issuance or amendment of a Letter of Credit in the form
from time to time in use by the L/C Issuer.

 

“Letter of
Credit Expiration Date” means the day that is seven days prior to the Maturity Date then in effect (or, if such day is
not a Business Day, the next preceding Business Day).

 

“Letter of
Credit Fee” has the meaning specified in Section 2.04(h).

 

“Letter of
Credit Sublimit” means an amount equal to $50,000,00060,000,000.
The Letter of Credit Sublimit is part of, and not in addition to, the Aggregate Commitments.

 

“LIBOR
Screen Rate” means the LIBOR quote on the applicable screen page the Administrative Agent designates to determine LIBOR (or
such other commercially available source providing such quotations as may be designated by the Administrative Agent from time to
time).

 

“LIBOR
Successor Rate” has the meaning specified in Section 3.03(c).

 

“LIBOR
Successor Rate Conforming Changes” has the meaning specified in Section 3.03(c).

 

“Lien”
means any mortgage, pledge, hypothecation, assignment, deposit arrangement, encumbrance, lien (statutory or other), charge, or
preference, priority or other security interest or preferential arrangement in the nature of a security interest of any kind or
nature whatsoever (including any conditional sale or other title retention agreement, any easement, right of way or other encumbrance
on title to real property, and any financing lease having substantially the same economic effect as any of the foregoing).

 

“Loan”
means an extension of credit by a Lender to the Borrower under Article II in the form of a Committed Loan or a Swing
Line Loan.

 

“Loan Documents”
means this Agreement, including schedules and exhibits hereto, each Note, each Issuer Document,
any agreement creating or perfecting rights in Cash Collateral pursuant to the provisions of Section 2.17 of this Agreement,
the Fee Letter, and the Guaranty and any amendments, modifications or supplements hereto or to any
other Loan Document or waivers hereof or to any other Loan Document.

 

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

 

 

    23

     

     

“London Banking
Day” means any day on which dealings in Dollar deposits are conducted by and between banks in the London interbank eurodollar
market.

 

“Material”
means material in relation to the business, operations, affairs, financial condition, assets, properties or prospects of the Borrower
and its Restricted Subsidiaries taken as a whole.

 

“Material
Adverse Effect” means (a) a material adverse change in, or a material adverse effect upon, the financial condition,
operations, assets, business, or properties of the Borrower and its Restricted Subsidiaries taken as a whole; (b) a material
impairment of the ability of the Borrower to perform any of the obligations under any Loan Document to which it is a party; or
(c) a material adverse effect upon the legality, validity, binding effect or enforceability against the Borrower of any Loan
Document to which it is a party.

 

“Maturity
Date” means November 1, 2021September 25,
2024; provided, however, that if such date is not a Business Day, the Maturity Date shall be the next
preceding Business Day.

 

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

 

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

 

“Net
Cash Proceeds” means, with respect to any issuance
of Equity Interests or Debt Securities by the Borrower, the aggregate cash proceeds received by the Borrower pursuant to such issuance,
net of the direct costs relating to such issuance (including sales and underwriters’ commissions).

 

“Net
Debt Securities Proceeds” means, with respect to any issuance
of Debt Securities, the aggregate cash proceeds received by the Borrower pursuant to such issuance, net of the direct costs relating
to such issuance (including sales and underwriters’ commissions).

 

“Net Proceeds
Amount” means, with respect to any Transfer of any property by any Person, an amount equal to the difference of (a) the
aggregate amount of the consideration (valued at the Fair Market Value of such consideration at the time of the consummation of
such Transfer) received by such Person in respect of such Transfer, minus (b) all ordinary and reasonable out-of-pocket costs and
expenses actually incurred by such Person in connection with such Transfer.

 

“Net
Worth” means, as of any date, (a) the sum of (i) the par value (or value stated on the books of the
corporation) of the capital stock (but excluding the par value of treasury stock and capital stock subscribed and unissued) of
the Borrower and its Restricted Subsidiaries plus
(ii) the amount of the paid-in capital and retained earnings of the Borrower and its Restricted Subsidiaries, in each case
as such amounts would be shown on a consolidated balance sheet of the Borrower and its Restricted Subsidiaries as of such time
prepared in accordance with GAAP, minus (b) to the extent included in clause (a), all
amounts properly attributable to minority interests, if any, in the stock and surplus of Restricted Subsidiaries and excluding
the effect of write-offs or write-downs of certain aged inventory of the AAR Parts Trading Inc. business unit and aircraft purchased,
or aircraft for which commitments to purchase were entered into, prior to September 11, 2001 (with the aggregate amount of such
write-offs and write-downs not to exceed $5,690,000).

 

 

    24

     

     

“New
Aircraft Purchases” means the purchase price paid for new aircraft acquired for purposes of supporting
new contracts awarded to the Borrower or a Restricted Subsidiary (documented by a schedule provided by the Borrower to the Administrative
Agent outlining a list of acquired aircraft, the purchase price, purchase date, and documents disclosing the award of a new contract
(or an amendment to an existing contract) to be serviced by such acquired aircraft). For purposes of calculating Fixed Charge Coverage
Ratio, New Aircraft Purchases (i) for the Fiscal Quarter ended May 31, 2010 was $0, (ii) for the Fiscal Quarter ended August 31,
2010 was $26,000,000, (iii) for the Fiscal Quarter ended November 30, 2010 was $16,450,000, (iv) for the Fiscal Quarter ended February
28, 2011 was $6,985,000, and (v) for the Fiscal Quarter ended May 31, 2011 is $21,365,140.

 

“Nonrecourse
Debt” means any Debt of any Person which, by the terms thereof, does not represent a claim against any general assets
or revenues of such Person other than the specific assets that are subject to a Lien securing such Debt.

 

“Note”
means a promissory note made by the Borrower in favor of a Lender evidencing Loans made by such Lender, substantially in the form
of Exhibit D.

 

“Notice of
Committed Loan Prepayment” means a notice of prepayment with respect to a Committed Loan, which shall be in such form
as may be approved by the Administrative Agent (including any form on an electronic platform or electronic transmission system
as shall be approved by the Administrative Agent), appropriately completed and signed by a Responsible Officer.

 

“Obligations”
means all obligations (monetary (including post-petition interest, allowed or not) or otherwise) of the Borrower and other Loan
Parties under this Agreement and any other Loan Document including Attorney Costs and any reimbursement obligations of the Borrower
in respect of Letters of Credit and surety bonds, all Hedging Obligations permitted hereunder which are owed to any Lender or its
Affiliate or the Administrative Agent, and all Bank Products Obligations, all in each case howsoever created, arising or evidenced,
whether direct or indirect, absolute or contingent, now or hereafter existing, or due or to become due, provided that the Obligations
shall exclude any Excluded Swap Obligations.

 

“OFAC”
means the U.S. Department of the Treasury’s Office of Foreign Assets Control, and any successor thereto.

 

“Operating
Leases” means any lease of (or other agreement conveying the right to use) any real or personal property by the Borrower
or any Restricted Subsidiary, as lessee, other than any Capital Lease.

 

 

    25

     

     

“Organization
Documents” means, (a) with respect to any corporation, the certificate or articles of incorporation and the bylaws
(or equivalent or comparable constitutive documents with respect to any non-U.S. jurisdiction); (b) with respect to any
limited liability company, the certificate or articles of formation or organization and operating agreement; and (c) with
respect to any partnership, joint venture, trust or other form of business entity, the partnership, joint venture or other applicable
agreement of formation or organization and any agreement, instrument, filing or notice with respect thereto filed in connection
with its formation or organization with the applicable Governmental Authority in the jurisdiction of its formation or organization
and, if applicable, any certificate or articles of formation or organization of such entity.

 

“Other Taxes”
means all present or future stamp or documentary taxes or any other excise or property taxes, charges or similar levies arising
from any payment made hereunder or under any other Loan Document or from the execution, delivery or enforcement of, or otherwise
with respect to, this Agreement or any other Loan Document.

 

“Outstanding
Amount” means (i) with respect to Committed Loans and Swing Line Loans on any date, the aggregate outstanding principal
amount thereof after giving effect to any borrowings and prepayments or repayments of Committed Loans and Swing Line Loans, as
the case may be, occurring on such date; and (ii) with respect to any L/C Obligations on any date, the amount of such L/C
Obligations on such date after giving effect to any L/C Credit Extension occurring on such date and any other changes in the aggregate
amount of the L/C Obligations as of such date, including as a result of any reimbursements by the Borrower of Unreimbursed Amounts.

 

“Overage
Amounts” means the amount of Net Debt Securities Proceeds received by the Borrower or a Subsidiary to
the extent such amount is not used to refinance convertible bonds previously issued by the Borrower.

 

“Participant”
has the meaning specified in Section 10.06(d).

 

“PBGC”
means the Pension Benefit Guaranty Corporation.

 

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

 

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

 

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

 

 

    26

     

     

“Permitted
Receivables Transactions” means any sale of notes or accounts receivable by the Borrower or a Restricted Subsidiary so
long as such sale constitutes a “true sale” under GAAP and recourse to the Borrower and its Restricted Subsidiaries
in connection with such sale is limited to (a) the retained portion of the notes or accounts receivable or (b) such other recourse
as the Borrower determines in good faith (which determination shall be conclusive) is customary or otherwise necessary or advisable
in connection with such transaction.

 

“Person”
means any natural person, corporation, firm, joint venture, partnership, limited liability company, association, enterprise, trust
or other entity or organization, or any government or political subdivision or any agency, department or instrumentality thereof.

 

“Plan”
means any employee benefit plan within the meaning of Section 3(3) of ERISA (including a Pension Plan), maintained for employees
of the Borrower or any ERISA Affiliate or any such Plan to which the Borrower or any ERISA Affiliate is required to contribute
on behalf of any of its employees.

 

“Platform”
has the meaning specified in Section 10.02(b).

 

“Priority
Debt” means without duplication the sum of (a) all Debt of the Borrower and/or the Restricted Subsidiaries
secured by Liens other than those permitted by paragraphs (a) through (m), both inclusive, of Section 7.02,
and (b) all other Debt of Restricted Subsidiaries other than (i) Debt owed to the Borrower or other Restricted Subsidiaries and
(ii) Debt outstanding at the time such Person became a Subsidiary.

 

“Property
Reinvestment Application” means, with respect to any Transfer of property, the application of an amount equal to the
Net Proceeds Amount with respect to such Transfer to acquire, develop or maintain assets used in the ordinary course of the Borrower’s
or Restricted Subsidiaries’ business.

 

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

 

“Register”
has the meaning specified in Section 10.06(c).

 

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

 

“Reportable
Event” means any of the events set forth in Section 4043(c) of ERISA, other than events for which the 30 day
notice period has been waived.

 

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

 

“Required
Lenders” means, as of any date of determination, not less than three Lenders having more than 50% of the Aggregate Commitments
or, if the commitment of each Lender to make Loans and the obligation of the L/C Issuer to make L/C Credit Extensions have been
terminated pursuant to Section 8.02, not less than three Lenders holding in the aggregate more than 50% of the Total
Outstandings (with the aggregate amount of each Lender’s risk participation and funded participation in L/C Obligations and
Swing Line Loans being deemed “held” by such Lender for purposes of this definition); provided that the Commitment
of, and the portion of the Total Outstandings held or deemed held by, any Defaulting Lender shall be excluded for purposes of making
a determination of Required Lenders.

 

 

    27

     

     

“Responsible
Officer” means the chief executive officer, the chief financial officer, the president and chief operating officer, the
chief accounting officer, the treasurer or the assistant treasurer of a Loan Party and solely for purposes of the delivery of incumbency
certificates pursuant to Section 4.01, the secretary or any assistant secretary of a Loan Party and, solely for purposes
of notices given pursuant to Article II, any other officer or employee of the applicable Loan Party so designated by any of the
foregoing officers in a notice to the Administrative Agent or any other officer or employee of the applicable Loan Party designated
in or pursuant to an agreement between the applicable Loan Party and the Administrative Agent. Any document delivered hereunder
that is signed by a Responsible Officer of a Loan Party shall be conclusively presumed to have been authorized by all necessary
corporate, partnership and/or other action on the part of such Loan Party and such Responsible Officer shall be conclusively presumed
to have acted on behalf of such Loan Party.

 

“Restricted
Payment” means any dividend or other distribution (whether in cash, securities or other property) with respect to any
capital stock or other Equity Interest of the Borrower or any Restricted Subsidiary, or any payment (whether in cash, securities
or other property), including any sinking fund or similar deposit, on account of the purchase, redemption, retirement, acquisition,
cancellation or termination of any such capital stock or other Equity Interest, or on account of any return of capital to the Borrower’s
stockholders, partners or members (or the equivalent Person thereof).

 

“Restricted
Subsidiary” means each Subsidiary of the Borrower other than an Unrestricted Subsidiary.

 

“Restricted
Subsidiary Stock” means, with respect to any Person, the stock (or any options or warrants to purchase stock or other
Equity Interests exchangeable for or convertible into stock) of any Restricted Subsidiary of such Person.

 

“Sanctioned
Country” means, at any time, any country or territory which is itself the subject or target of any comprehensive Sanctions.

 

“Sanctioned
Person” means, at any time, (a) any Person or group listed in any Sanctions-related list of designated Persons maintained
by OFAC or the U.S. Department of State, the United Nations Security Council, the European Union or any EU member state, (b) any
Person or group operating, organized or resident in a Sanctioned Country, (c) any agency, political subdivision or instrumentality
of the government of a Sanctioned Country, or (d) any Person 50% or more owned
or Controlled, directly or indirectly, by any of the above.

 

 

    28

     

     

“Sanctions”
means economic or financial sanctions or trade embargoes imposed, administered or enforced from time to time by (a) the U.S. government,
including those administered by OFAC or the U.S. Department of State or (b) the United Nations Security Council, the European Union
or Her Majesty’s Treasury of the United Kingdom.

 

“Scheduled
Unavailability Date” has the meaning specified in Section 3.03(c).

 

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

 

“SEC Filings”
means, as at any date, the Borrower’s Annual Report on Form 10-K prepared in compliance with the requirements therefor and
filed with the SEC most recently prior to such date, and all of the Borrower’s Quarterly Reports on Forms 10-Q and/or other
reports, including on Form 8-K, in each case prepared in compliance with the requirements therefor and filed with the SEC since
the date of such Form 10-K filing.

 

“Significant
Subsidiary” means at any time any Restricted Subsidiary which accounts for more than (i) 10% of the Consolidated Assets
of the Borrower and its Restricted Subsidiaries or (ii) 10% of the consolidated revenue of the Borrower and its Restricted Subsidiaries;
provided, however, that if no single Restricted Subsidiary qualifies as a Significant Subsidiary under clauses (i)
or (ii), but two or more Restricted Subsidiaries, when taken together, account for more than 10% of the Consolidated Assets or
the consolidated revenue of the Borrower and its Restricted Subsidiaries, then the Borrower shall designate Restricted Subsidiaries
as Significant Subsidiaries until the remaining Restricted Subsidiaries that have not been so designated account, on an a combined
basis, for less than 10% of Consolidated Assets and consolidated revenue for the Borrower and all of the Restricted Subsidiaries.

 

 

“Specified
Debt Securities” means the January 2012 Debt Securities and
any other unsecured Debt of the Borrower permitted underAcquisition” has the
meaning specified in Section 7.017.13(b).

 

“Subordinated
Debt” means any Debt of the Borrower that is (i) junior and subordinate in right of payment to the Loans and other Obligations
pursuant to subordination provisions that have been approved in writing by the Required Lenders and (ii) has a final maturity no
earlier than any of the Loans and a weighted average life to maturity (determined in accordance with standard financial practice)
that is no shorter than any of the Loans.

 

“Subsidiary”
of a Person means a corporation, partnership, joint venture, limited liability company or other business entity of which a majority
of the shares of securities or other interests having ordinary voting power for the election of directors or other governing body
(other than securities or interests having such power only by reason of the happening of a contingency) are at the time beneficially
owned by such Person. Unless otherwise specified, all references herein to a “Subsidiary” or to “Subsidiaries”
shall refer to a Subsidiary or Subsidiaries of the Borrower.

 

“Swap Obligation”
means, with respect to any Guarantor, any obligation to pay or perform under any agreement, contract or transaction that constitutes
a “swap” within the meaning of section 1a(47) of the Commodity Exchange Act.

 

 

    29

     

     

“Swing Line
Borrowing” means a borrowing of a Swing Line Loan pursuant to Section 2.05.

 

“Swing Line
Lender” means Bank of America in its capacity as provider of Swing Line Loans, or any successor swing line lender hereunder.

 

“Swing Line
Loan” has the meaning specified in Section 2.05(a).

 

“Swing Line
Loan Notice” means a notice of a Swing Line Borrowing pursuant to Section 2.05(b), which, if in writing,
shall be substantially in the form of Exhibit C or such other form as approved by the Administrative Agent (including
any form on an electronic platform or electronic transmissions system as shall be approved by the Administrative Agent), appropriately
completed and signed by a Responsible Officer of the Borrower.

 

“Swing Line
Sublimit” means an amount equal to the lesser of (a) $20,000,00030,000,000
and (b) the Aggregate Commitments. The Swing Line Sublimit is part of, and not in addition to, the Aggregate Commitments.

 

“Tangible
Net Worth” means for the Borrower and both its Restricted Subsidiaries and Unrestricted Subsidiaries
on a consolidated basis an amount equal to: (a) Net Worth; plus (b) the aggregate principal
amount of Subordinated Debt; less (c) Intangible Assets; less
(d) the excess of the aggregate of the Borrower’s and the Restricted Subsidiaries’ Investments under clause
(l) of Section 7.11 over an amount equal to 30% of Net Worth as reported by the Borrower
in accordance with the terms hereof for the Fiscal Quarter immediately preceding the Fiscal Quarter in which such determination
is being made.

 

“Taxes”
means all present or future taxes, levies, imposts, duties, deductions, withholdings (including backup withholding), assessments,
fees or other charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto.

 

“Total Debt”
means all Debt (other than Nonrecourse Debt) of the Borrower and its Restricted Subsidiaries, determined on a consolidated basis,
excluding (a) Contingent Liabilities in respect of Debt of the Borrower or any Restricted Subsidiary, (b) Hedging Obligations,
and (c) Debt of the Borrower to Restricted Subsidiaries and Debt of Restricted Subsidiaries to the Borrower or to other Restricted
Subsidiaries (including all offsetting debits and credits between the Borrower and the Restricted Subsidiaries and all other items
required to be eliminated in the course of preparing consolidated financial statements for the Borrower and the Restricted Subsidiaries
in accordance with GAAP).

 

“Total Outstandings”
means the aggregate Outstanding Amount of all Loans and all L/C Obligations.

 

“Transfer”
means, with respect to any Person, any transaction in which such Person sells, conveys, transfers or leases (as lessor) any of
its property, including Restricted Subsidiary Stock. For purposes of determining the application of the Net Proceeds Amount in
respect of any Transfer, the Borrower may designate any Transfer as one or more separate Transfers each yielding a separate Net
Proceeds Amount. In any such case, the Disposition Value of any property subject to each such separate Transfer shall be determined
by ratably allocating the aggregate Disposition Value of all property subject to all such separate Transfers to each such separate
Transfer on a proportionate basis.

 

 

    30

     

     

“Type”
means with respect to a Committed Loan, its character as a Base Rate Loan or a Eurodollar Rate Loan.

 

“Unfunded
Liability” means the amount (if any) by which the present value of all vested and unvested accrued benefits under all
Pension Plans exceeds the fair market value of all assets allocable to those benefits, all determined as of the then most recent
valuation date for each Pension Plan, based on the actuarial assumptions currently being used for funding each Pension Plan on
an on-going basis.

 

“United States”
and “U.S.” mean the United States of America.

 

“Unreimbursed
Amount” has the meaning specified in Section 2.04(c)(i).

 

“Unrestricted
Cash” means, on any date, that portion of the Borrower’s and its domestic Restricted Subsidiaries’ cash and
Cash Equivalent Investments held with any Lender in excess of $10,000,000 that is not encumbered by or subject to any Lien (including
Liens permitted hereunder), setoff (other than ordinary course setoff rights of a depository bank arising under a bank depository
agreement for customary fees, charges and other account-related expenses due to such depository bank thereunder), counterclaim,
recoupment, defense or other right in favor of any Person.

 

“Unrestricted
Subsidiary” means each of AAR Aircraft & Engine Sales & Leasing, Inc., each Subsidiary thereof (the “AAR
AESL Group”), AAR International Financial Services, L.L.C., each Subsidiary thereof (the “AAR IFS Group”),
and each other Subsidiary of the Borrower designated as such in a written notice to the Administrative Agent and the Lenders by
the Borrower; provided, however, that (i) no such designation shall take effect until the receipt of such notice
by the Administrative Agent and the Lenders, (ii) no such designation shall be made if a Default or Event of Default would result
therefrom, and (iii) no such designation shall be made without the Required Lenders’ prior written consent if, after giving
effect to such designation on a pro forma basis, EBITDA for the Borrower and the Restricted Subsidiaries, on a consolidated basis,
would be reduced by more than 10% of consolidated EBITDA for the Borrower and the Restricted Subsidiaries for the four Fiscal Quarter
period immediately preceding the Fiscal Quarter in which such designation is made. If at any time a Subsidiary that is designated
as an Unrestricted Subsidiary represents (i) more that 10% of the consolidated assets of the Borrower and its Subsidiaries or (ii)
more than 10% of the consolidated revenue of the Borrower and its Subsidiaries, such Unrestricted Subsidiary shall automatically
be redesignated as a Restricted Subsidiary; provided, however, that this sentence shall not apply to any Subsidiary
that is a part of the AAR AESL Group or the AAR IFS Group.

 

“Wholly-Owned
Restricted Subsidiary” means a Restricted Subsidiary of the Borrower that is a Wholly-Owned
Subsidiary.

 

“Wholly-Owned
Subsidiary” means, as to any Person, a Subsidiary all of the Equity Interests of which (except directors’ qualifying
Equity Interests) are at the time directly or indirectly owned by such Person and/or another Wholly-Owned Subsidiary of such Person.

 

 

    31

     

     

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

 

“Wholly-Owned
Restricted Subsidiary” means a Restricted Subsidiary of the Borrower that is a Wholly
Owned Subsidiary.

 

“Wood
Dale Mortgage Documents” means (i) that certain Loan Agreement between AAR Wood Dale LLC and Principal
Commercial Funding dated as of July 15, 2005, (ii) that certain Guaranty by AAR CORP. in favor of Principal Commercial Funding
dated as of July 15, 2005 and (iii) that certain Lease Agreement between AAR CORP. and AAR Wood Dale LLC dated as of July 1, 2003,
each as amended, restated or otherwise modified from time to time.

 

1.02       
Other Interpretive Provisions. With reference to this Agreement and each other Loan Document, unless otherwise
specified herein or in such other Loan Document:

 

(a)           
The definitions of terms herein shall apply equally to the singular and plural forms of the terms defined. Whenever
the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include,”
“includes” and “including” shall be deemed to be followed by the phrase “without limitation.”
The word “will” shall be construed to have the same meaning and effect as the word “shall.”
Unless the context requires otherwise, (i) any definition of or reference to any agreement, instrument or other document (including
any Organization Document) shall be construed as referring to such agreement, instrument or other document as from time to time
amended, supplemented or otherwise modified (subject to any restrictions on such amendments, supplements or modifications set forth
herein or in any other Loan Document), (ii) any reference herein to any Person shall be construed to include such Person’s
successors and assigns, (iii) the words “hereto,” “herein,” “hereof”
and “hereunder,” and words of similar import when used in any Loan Document, shall be construed to refer to
such Loan Document in its entirety and not to any particular provision thereof, (iv) all references in a Loan Document to
Articles, Sections, Exhibits and Schedules shall be construed to refer to Articles and Sections of, and Exhibits and Schedules
to, the Loan Document in which such references appear, (v) any reference to any law shall include all statutory and regulatory
provisions consolidating, amending, replacing or interpreting such law and any reference to any law,
rule or regulation shall, unless otherwise specified, refer to such law, rule
or regulation as amended, modified or supplemented from time to time, and (vi) the words “asset” and “property”
shall be construed to have the same meaning and effect and to refer to any and all tangible and intangible assets and properties,
including cash, securities, accounts and contract rights.

 

(b)          
In the computation of periods of time from a specified date to a later specified date, the word “from”
means “from and including;” the words “to” and “until” each mean “to
but excluding;” and the word “through” means “to and including.”

 

(c)          
Section headings herein and in the other Loan Documents are included for convenience of reference only and shall
not affect the interpretation of this Agreement or any other Loan Document.

 

 

    32

     

     

(d)          
Any reference herein to a merger, transfer, consolidation, amalgamation, consolidation, assignment, sale, disposition
or transfer, or similar term, shall be deemed to apply to a division of or by a limited liability company, or an allocation of
assets to a series of a limited liability company (or the unwinding of such a division or allocation), as if it were a merger,
transfer, consolidation, amalgamation, consolidation, assignment, sale, disposition or transfer, or similar term, as applicable,
to, of or with a separate Person. Any division of a limited liability company shall constitute a separate Person hereunder (and
each division of any limited liability company that is a Subsidiary, joint venture or any other like term shall also constitute
such a Person or entity).

 

1.03        
Accounting Terms.

 

(a)          
Generally. All accounting terms not specifically or completely defined herein shall be construed in conformity
with, and all financial data (including financial ratios and other financial calculations) required to be submitted pursuant to
this Agreement shall be prepared in conformity with, GAAP applied on a consistent basis, as in effect from time to time, applied
in a manner consistent with that used in preparing the Audited Financial Statements, except as otherwise specifically prescribed
herein.

 

(b)          
Changes in GAAP. If the Borrower notifies the Administrative Agent that the Borrower wishes to amend any covenant
in Section 6 or Section 7.11 (or any related definition) to eliminate or to take into account the effect of any change
in GAAP on the operation of such covenant (or if the Administrative Agent notifies the Borrower that the Required Lenders wish
to amend Section 6 or Section 7.13 (or any related definition) for such purpose), then the Borrower’s compliance
with such covenant shall be determined on the basis of GAAP in effect immediately before the relevant change in GAAP became effective,
until either such notice is withdrawn or such covenant (or related definition) is amended in a manner satisfactory to the Borrower
and the Required Lenders. Without limiting the foregoing, leases shall continue to be classified and
accounted for on a basis consistent with that reflected in the Audited Financial Statements for purposes of calculating the financial
covenants in Section 7.13, notwithstanding any change in GAAP relating thereto, unless the parties hereto shall enter into a mutually
acceptable amendment addressing such changes.

 

1.04        
Rounding. Any financial ratios required to be maintained by the Borrower pursuant to this Agreement shall
be calculated by dividing the appropriate component by the other component, carrying the result to three places more than the number
of places by which such ratio is expressed herein and rounding the result up or down to the nearest number (with a rounding-up
if there is no nearest number).

 

1.05        
Times of Day. Unless otherwise specified, all references herein to times of day shall be references to
Central time (daylight or standard, as applicable).

 

1.06        
Letter of Credit Amounts. Unless otherwise specified herein, the amount of a Letter of Credit at any time
shall be deemed to be the stated amount of such Letter of Credit in effect at such time; provided, however, that
with respect to any Letter of Credit that, by its terms or the terms of any Issuer Document related thereto, provides for one or
more automatic increases in the stated amount thereof, the amount of such Letter of Credit shall be deemed to be the maximum stated
amount of such Letter of Credit after giving effect to all such increases, whether or not such maximum stated amount is in effect
at such time and provided further that the amount of any Letter of Credit and of any L/C Obligations with respect to any Letter
of Credit issued in a currency other than Dollars is such amount calculated on the basis of the arithmetical mean of the buy and
sell spot rates of exchange of the Administrative Agent for such currency on the London market at 11:00 a.m. London time on or
as of the most recent date of computation of such amount by the Administrative Agent.

 

 

    33

     

     

1.07        
Interest Rates. The Administrative Agent does not
warrant, nor accept responsibility, nor shall the Administrative Agent have any liability with respect to the administration, submission
or any other matter related to the rates in the definition of “Eurodollar Rate” or with respect to any comparable or
successor rate thereto.

 

ARTICLE
II. THE COMMITMENTS AND CREDIT EXTENSIONS

 

2.01       
Committed Loans. Subject to the terms and conditions set forth herein, each Lender severally agrees to
make loans (each such loan, a “Committed Loan”) to the Borrower from time to time, on any Business Day during
the Availability Period, in an aggregate amount not to exceed at any time outstanding the amount of such Lender’s Commitment;
provided, however, that after giving effect to any Committed Borrowing, (i) the Total Outstandings shall not
exceed the Aggregate Commitments, and (ii) the aggregate Outstanding Amount of the Committed Loans of any Lender, plus
such Lender’s Applicable Percentage of the Outstanding Amount of all L/C Obligations, plus such Lender’s Applicable
Percentage of the Outstanding Amount of all Swing Line Loans shall not exceed such Lender’s Commitment. Within the limits
of each Lender’s Commitment, and subject to the other terms and conditions hereof, the Borrower may borrow under this Section 2.01,
prepay under Section 2.06, and reborrow under this Section 2.01. Committed Loans may be Base Rate Loans
or Eurodollar Rate Loans, as further provided herein.

 

2.02        
Borrowings, Conversions and Continuations of Committed Loans.

 

(a)           
Each Committed Borrowing, each conversion of Committed Loans from one Type to the other, and each continuation of
Eurodollar Rate Committed Loans shall be made upon the Borrower’s irrevocable notice to the Administrative Agent, which may
be given by (A) telephone or (B) a Committed Loan Notice; provided that any telephonic notice must be confirmed promptly
by delivery to the Administrative Agent of a Committed Loan Notice. Each such notice must be received by the Administrative Agent
not later than 11:00 a.m. (i) three Business Days prior to the requested date of any Borrowing of, conversion to or continuation
of Eurodollar Rate Committed Loans or of any conversion of Eurodollar Rate Committed Loans to Base Rate Committed Loans, and (ii) on
the requested date of any Borrowing of Base Rate Committed Loans. Each telephonic notice by the Borrower pursuant to this Section 2.02(a)
must be confirmed promptly by delivery to the Administrative Agent of a written Committed Loan Notice, appropriately completed
and signed by a Responsible Officer of the Borrower. Each Borrowing of, conversion to or continuation of Eurodollar Rate Committed
Loans shall be in a principal amount of $5,000,000 or a whole multiple of $1,000,000 in excess thereof. Except as provided in Sections 2.04(c)
and 2.05(c), each Borrowing of or conversion to Base Rate Committed Loans shall be in a principal amount of $2,000,000 or
a whole multiple of $1,000,000 in excess thereof. Each Committed Loan Notice (whether telephonic or written) shall specify (i) whether
the Borrower is requesting a Committed Borrowing, a conversion of Committed Loans from one Type to the other, or a continuation
of Eurodollar Rate Committed Loans, (ii) the requested date of the Borrowing, conversion or continuation, as the case may
be (which shall be a Business Day), (iii) the principal amount of Committed Loans to be borrowed, converted or continued,
(iv) the Type of Committed Loans to be borrowed or to which existing Committed Loans are to be converted, and (v) if
applicable, the duration of the Interest Period with respect thereto. If the Borrower fails to specify a Type of Committed Loan
in a Committed Loan Notice or if the Borrower fails to give a timely notice requesting a conversion or continuation, then the applicable
Committed Loans shall be made as, or converted to, Base Rate Loans. Any such automatic conversion to Base Rate Loans shall be effective
as of the last day of the Interest Period then in effect with respect to the applicable Eurodollar Rate Committed Loans. If the
Borrower requests a Borrowing of, conversion to, or continuation of Eurodollar Rate Committed Loans in any such Committed Loan
Notice, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one month.

 

 

    34

     

     

(b)          
Following receipt of a Committed Loan Notice, the Administrative Agent shall promptly notify each Lender of the amount
of its Applicable Percentage of the applicable Committed Loans, and if no timely notice of a conversion or continuation is provided
by the Borrower, the Administrative Agent shall notify each Lender of the details of any automatic conversion to Base Rate Loans
described in the preceding subsection. In the case of a Committed Borrowing, each Lender shall make the amount of its Committed
Loan available to the Administrative Agent in immediately available funds at the Administrative Agent’s Office not later
than 1:00 p.m. on the Business Day specified in the applicable Committed Loan Notice. Upon satisfaction of the applicable
conditions set forth in Section 4.02 (and, if such Borrowing is the initial Credit Extension, Section 4.01),
the Administrative Agent shall make all funds so received available to the Borrower in like funds as received by the Administrative
Agent either by (i) crediting the account of the Borrower on the books of Bank of America with the amount of such funds or
(ii) wire transfer of such funds, in each case in accordance with instructions provided to (and reasonably acceptable to)
the Administrative Agent by the Borrower; provided, however, that if, on the date the Committed Loan Notice with
respect to such Borrowing is given by the Borrower, there are L/C Borrowings outstanding, then the proceeds of such Borrowing,
first, shall be applied to the payment in full of any such L/C Borrowings, and second, shall be made available to
the Borrower as provided above.

 

(c)           
Except as otherwise provided herein, a Eurodollar Rate Committed Loan may be continued or converted only on the last
day of an Interest Period for such Eurodollar Rate Committed Loan. During the existence of a Default, no Loans may be requested
as, converted to or continued as Eurodollar Rate Committed Loans without the consent of the Required Lenders.

 

(d)          
The Administrative Agent shall promptly notify the Borrower and the Lenders of the interest rate applicable to any
Interest Period for Eurodollar Rate Committed Loans upon determination of such interest rate. At any time that Base Rate Loans
are outstanding, the Administrative Agent shall notify the Borrower and the Lenders of any change in Bank of America’s prime
rate used in determining the Base Rate promptly following the public announcement of such change.

 

 

    35

     

     

(e)           
After giving effect to all Committed Borrowings, all conversions of Committed Loans from one Type to the other, and
all continuations of Committed Loans as the same Type, there shall not be more than ten Interest Periods in effect with respect
to Committed Loans.

 

2.03       
[Reserved].

 

2.04       
Letters of Credit.

 

(a)        
  The Letter of Credit Commitment.

 

(i)           
Subject to the terms and conditions set forth herein, (A) the L/C Issuer agrees, in reliance upon the agreements
of the Lenders set forth in this Section 2.04, (1) from time to time on any Business Day during the period from
the Closing Date until the Letter of Credit Expiration Date, to issue Letters of Credit for the account of the Borrower or its
Subsidiaries, and to amend Letters of Credit previously issued by it, in accordance with subsection (b) below, and (2) to
honor drawings under the Letters of Credit; and (B) the Lenders severally agree to participate in Letters of Credit issued
for the account of the Borrower or its Subsidiaries and any drawings thereunder; provided that after giving effect to any
L/C Credit Extension with respect to any Letter of Credit, (x) the Total Outstandings shall not exceed the Aggregate Commitments,
(y) the aggregate Outstanding Amount of the Committed Loans of any Lender, plus such Lender’s Applicable Percentage
of the Outstanding Amount of all L/C Obligations, plus such Lender’s Applicable Percentage of the Outstanding Amount
of all Swing Line Loans shall not exceed such Lender’s Commitment, and (z) the Outstanding Amount of the L/C Obligations
shall not exceed the Letter of Credit Sublimit. Each request by the Borrower for the issuance or amendment of a Letter of Credit
shall be deemed to be a representation by the Borrower that the L/C Credit Extension so requested complies with the conditions
set forth in the proviso to the preceding sentence. Within the foregoing limits, and subject to the terms and conditions hereof,
the Borrower’s ability to obtain Letters of Credit shall be fully revolving, and accordingly the Borrower may, during the
foregoing period, obtain Letters of Credit to replace Letters of Credit that have expired or that have been drawn upon and reimbursed.
All Existing Letters of Credit shall be deemed to have been issued pursuant hereto, and from and after the Closing Date shall be
subject to and governed by the terms and conditions hereof.

 

(ii)          
The L/C Issuer shall not issue any Letter of Credit, if:

 

(A)            
the expiry date of the requested Letter of Credit would occur more than twelve months after the date of issuance,
unless the Required Lenders have approved such expiry date; or

 

(B)             
the expiry date of the requested Letter of Credit would occur after the Letter of Credit Expiration Date, unless
all the Lenders have approved such expiry date.

 

 

    36

     

     

(iii)         
The L/C Issuer shall not be under any obligation to issue any Letter of Credit if:

 

(A)            
any order, judgment or decree of any Governmental Authority or arbitrator shall by its terms purport to enjoin or
restrain the L/C Issuer from issuing the Letter of Credit, or any Law applicable to the L/C Issuer or any request or directive
(whether or not having the force of law) from any Governmental Authority with jurisdiction over the L/C Issuer shall prohibit,
or request that the L/C Issuer refrain from, the issuance of letters of credit generally or the Letter of Credit in particular
or shall impose upon the L/C Issuer with respect to the Letter of Credit any restriction, reserve or capital requirement (for which
the L/C Issuer is not otherwise compensated hereunder) not in effect on the Closing Date, or shall impose upon the L/C Issuer any
unreimbursed loss, cost or expense which was not applicable on the Closing Date and which the L/C Issuer in good faith deems material
to it;

 

(B)             
the issuance of the Letter of Credit would violate one or more policies of the L/C Issuer applicable to letters of
credit generally;

 

(C)             
except as otherwise agreed by the Administrative Agent and the L/C Issuer, the Letter of Credit is in an initial
stated amount less than $10,000;

 

(D)            
the Letter of Credit is to be denominated in a currency other than Dollars, euros, British pounds sterling or UAE
dirhams or a currency in which the applicable L/C Issuer can and is willing to issue Letters of Credit;

 

(E)             
any Lender is at that time a Defaulting Lender, unless the L/C Issuer has entered into arrangements, including the
delivery of Cash Collateral, satisfactory to the L/C Issuer (in its sole discretion) with the Borrower or such Lender to eliminate
the L/C Issuer’s actual or potential Fronting Exposure (after giving effect to Section 2.18(a)(iv)) with respect
to the Defaulting Lender arising from either the Letter of Credit then proposed to be issued or that Letter of Credit and all other
L/C Obligations as to which the L/C Issuer has actual or potential Fronting Exposure, as it may elect in its sole discretion; or

 

(F)           
the Letter of Credit contains any provisions for automatic reinstatement of the stated amount after any drawing thereunder.

 

(iv)         
The L/C Issuer shall not amend any Letter of Credit if the L/C Issuer would not be permitted at such time to issue
the Letter of Credit in its amended form under the terms hereof.

 

(v)          
The L/C Issuer shall be under no obligation to amend any Letter of Credit if (A) the L/C Issuer would have no
obligation at such time to issue the Letter of Credit in its amended form under the terms hereof, or (B) the beneficiary of
the Letter of Credit does not accept the proposed amendment to the Letter of Credit.

 

 

    37

     

     

(vi)         
The L/C Issuer shall act on behalf of the Lenders with respect to any Letters of Credit issued by it and the documents
associated therewith, and the L/C Issuer shall have all of the benefits and immunities (A) provided to the Administrative
Agent in Article IX with respect to any acts taken or omissions suffered by the L/C Issuer in connection with Letters
of Credit issued by it or proposed to be issued by it and Issuer Documents pertaining to such Letters of Credit as fully as if
the term “Administrative Agent” as used in Article IX included the L/C Issuer with respect to such acts
or omissions, and (B) as additionally provided herein with respect to the L/C Issuer.

 

(b)           
Procedures for Issuance and Amendment of Letters of Credit.

 

(i)           
Each Letter of Credit shall be issued or amended, as the case may be, upon the request of the Borrower delivered
to the L/C Issuer (with a copy to the Administrative Agent) in the form of a Letter of Credit Application, appropriately completed
and signed by a Responsible Officer of the Borrower. Such Letter of Credit Application must be received by the L/C Issuer and the
Administrative Agent not later than 11:00 a.m. at least two Business Days (or such later date and time as the Administrative
Agent and the L/C Issuer may agree in a particular instance in their sole discretion) prior to the proposed issuance date or date
of amendment, as the case may be. In the case of a request for an initial issuance of a Letter of Credit, such Letter of Credit
Application shall specify in form and detail satisfactory to the L/C Issuer: (A) the proposed issuance date of the requested
Letter of Credit (which shall be a Business Day); (B) the amount thereof; (C) the expiry date thereof; (D) the name
and address of the beneficiary thereof; (E) the documents to be presented by such beneficiary in case of any drawing thereunder;
(F) the full text of any certificate to be presented by such beneficiary in case of any drawing thereunder; (G) the purpose
and nature of the requested Letter of Credit; and (H) such other matters as the L/C Issuer may require. In the case of a request
for an amendment of any outstanding Letter of Credit, such Letter of Credit Application shall specify in form and detail satisfactory
to the L/C Issuer (A) the Letter of Credit to be amended; (B) the proposed date of amendment thereof (which shall be
a Business Day); (C) the nature of the proposed amendment; and (D) such other matters as the L/C Issuer may require.
Additionally, the Borrower shall furnish to the L/C Issuer and the Administrative Agent such other documents and information
pertaining to such requested Letter of Credit issuance or amendment, including any Issuer Documents, as the L/C Issuer or the Administrative
Agent may require.

 

(ii)          
Promptly after receipt of any Letter of Credit Application, the L/C Issuer will confirm with the Administrative Agent
(by telephone or in writing) that the Administrative Agent has received a copy of such Letter of Credit Application from the Borrower
and, if not, the L/C Issuer will provide the Administrative Agent with a copy thereof. Unless the L/C Issuer has received written
notice from any Lender, the Administrative Agent or any Loan Party, at least one Business Day prior to the requested date of issuance
or amendment of the applicable Letter of Credit, that one or more applicable conditions contained in Article IV shall
not then be satisfied, then, subject to the terms and conditions hereof, the L/C Issuer shall, on the requested date, issue a Letter
of Credit for the account of the Borrower (or the applicable Subsidiary) or enter into the applicable amendment, as the case may
be, in each case in accordance with the L/C Issuer’s usual and customary business practices. Immediately upon the issuance
of each Letter of Credit, each Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the
L/C Issuer a risk participation in such Letter of Credit in an amount equal to the product of such Lender’s Applicable Percentage
times the amount of such Letter of Credit. In the event that the L/C Issuer issues a Letter of Credit denominated in a currency
other than Dollars, euros, British pounds sterling or UAE dirhams (or amends such a Letter of Credit to increase the stated amount)
the L/C Issuer shall promptly notify each Lender of such issuance or amendment.

 

 

    38

     

     

(iii)         
Promptly after its delivery of any Letter of Credit or any amendment to a Letter of Credit to an advising bank with
respect thereto or to the beneficiary thereof, the L/C Issuer will also deliver to the Borrower and the Administrative Agent a
true and complete copy of such Letter of Credit or amendment.

 

(c)           
Drawings and Reimbursements; Funding of Participations.

 

(i)           
Upon receipt from the beneficiary of any Letter of Credit of any notice of a drawing under such Letter of Credit
together with, in the case of a commercial Letter of Credit, a sight draft from the beneficiary, the
L/C Issuer shall examine such drawing documents within the period specified by the terms and conditions of such Letter of Credit,
and after such examination, the L/C Issuer shall notify the Borrower and the Administrative Agent thereof. Not later
than 11:00 a.m. on the date of any payment by the L/C Issuer under a Letter of Credit (each such date, an “Honor
Date”), the Borrower shall reimburse the L/C Issuer through the Administrative Agent in an amount equal to the amount
of such drawing as determined by the L/C Issuer. If the Borrower fails to so reimburse the L/C Issuer by such time, the Administrative
Agent shall promptly notify each Lender of the Honor Date, the amount of the unreimbursed drawing (the “Unreimbursed Amount”),
and the amount of such Lender’s Applicable Percentage thereof. In such event, the Borrower shall be deemed to have requested
a Committed Borrowing of Base Rate Loans to be disbursed on the Honor Date in an amount equal to the Unreimbursed Amount, without
regard to the minimum and multiples specified in Section 2.02 for the principal amount of Base Rate Loans, but subject
to the amount of the unutilized portion of the Aggregate Commitments and the conditions set forth in Section 4.02 (other
than the delivery of a Committed Loan Notice) as determined by the Administrative Agent. Any notice given by the L/C Issuer or
the Administrative Agent pursuant to this Section 2.04(c)(i) may be given by telephone if immediately confirmed in
writing; provided that the lack of such an immediate confirmation shall not affect the conclusiveness or binding effect
of such notice.

 

(ii)          
Each Lender shall upon any notice pursuant to Section 2.04(c)(i) make funds available (and the Administrative
Agent may apply Cash Collateral provided for this purpose) for the account of the L/C Issuer at the Administrative Agent’s
Office in an amount equal to its Applicable Percentage of the Unreimbursed Amount not later than 1:00 p.m. on the Business
Day specified in such notice by the Administrative Agent, whereupon, subject to the provisions of Section 2.04(c)(iii),
each Lender that so makes funds available shall be deemed to have made a Base Rate Committed Loan to the Borrower in such amount.
The Administrative Agent shall remit the funds so received to the L/C Issuer.

 

 

    39

     

     

(iii)         
With respect to any Unreimbursed Amount that is not fully refinanced by a Committed Borrowing of Base Rate Loans
because the conditions set forth in Section 4.02 cannot be satisfied or for any other reason, the Borrower shall be
deemed to have incurred from the L/C Issuer an L/C Borrowing in the amount of the Unreimbursed Amount that is not so refinanced,
which L/C Borrowing shall be due and payable on demand (together with interest) and shall bear interest at the Default Rate. In
such event, each Lender’s payment to the Administrative Agent for the account of the L/C Issuer pursuant to Section 2.04(c)(ii)
shall be deemed payment in respect of its participation in such L/C Borrowing and shall constitute an L/C Advance from such Lender
in satisfaction of its participation obligation under this Section 2.04.

 

(iv)        
Until each Lender funds its Committed Loan or L/C Advance pursuant to this Section 2.04(c) to reimburse
the L/C Issuer for any amount drawn under any Letter of Credit, interest in respect of such Lender’s Applicable Percentage
of such amount shall be solely for the account of the L/C Issuer.

 

(v)          
Each Lender’s obligation to make Committed Loans or L/C Advances to reimburse the L/C Issuer for amounts drawn
under Letters of Credit, as contemplated by this Section 2.04(c), shall be absolute and unconditional and shall not
be affected by any circumstance, including (A) any setoff, counterclaim, recoupment, defense or other right which such Lender
may have against the L/C Issuer, the Borrower or any other Person for any reason whatsoever; (B) the occurrence or continuance
of a Default, or (C) any other occurrence, event or condition, whether or not similar to any of the foregoing; provided,
however, that each Lender’s obligation to make Committed Loans pursuant to this Section 2.04(c) is subject
to the conditions set forth in Section 4.02 (other than delivery by the Borrower of a Committed Loan Notice). No such
making of an L/C Advance shall relieve or otherwise impair the obligation of the Borrower to reimburse the L/C Issuer for the amount
of any payment made by the L/C Issuer under any Letter of Credit, together with interest as provided herein.

 

(vi)         
If any Lender fails to make available to the Administrative Agent for the account of the L/C Issuer any amount required
to be paid by such Lender pursuant to the foregoing provisions of this Section 2.04(c) by the time specified in Section 2.04(c)(ii),
then, without limiting the other provisions of this Agreement, the L/C Issuer shall be entitled to recover from such Lender (acting
through the Administrative Agent), on demand, such amount with interest thereon for the period from the date such payment is required
to the date on which such payment is immediately available to the L/C Issuer at a rate per annum equal to the greater of the Federal
Funds Rate and a rate determined by the L/C Issuer in accordance with banking industry rules on interbank compensation, plus any
administrative, processing or similar fees customarily charged by the L/C Issuer in connection with the foregoing. If such Lender
pays such amount (with interest and fees as aforesaid), the amount so paid shall constitute such Lender’s Committed Loan
included in the relevant Committed Borrowing or L/C Advance in respect of the relevant L/C Borrowing, as the case may be. A certificate
of the L/C Issuer submitted to any Lender (through the Administrative Agent) with respect to any amounts owing under this clause (vi)
shall be conclusive absent manifest error.

 

 

    40

     

     

 

(d)       
    Repayment of Participations.

 

(i)             
At any time after the L/C Issuer has made a payment under any Letter of Credit and has received from any Lender such
Lender’s L/C Advance in respect of such payment in accordance with Section 2.04(c), if the Administrative Agent
receives for the account of the L/C Issuer any payment in respect of the related Unreimbursed Amount or interest thereon (whether
directly from the Borrower or otherwise, including proceeds of Cash Collateral applied thereto by the Administrative Agent), the
Administrative Agent will distribute to such Lender its Applicable Percentage thereof in the same funds as those received by the
Administrative Agent.

 

(ii)             
If any payment received by the Administrative Agent for the account of the L/C Issuer pursuant to Section 2.04(c)(i)
is required to be returned under any of the circumstances described in Section 10.05 (including pursuant to any settlement
entered into by the L/C Issuer in its discretion), each Lender shall pay to the Administrative Agent for the account of the L/C
Issuer its Applicable Percentage thereof on demand of the Administrative Agent, plus interest thereon from the date of such demand
to the date such amount is returned by such Lender, at a rate per annum equal to the Federal Funds Rate from time to time in effect.
The obligations of the Lenders under this clause shall survive the payment in full of the Obligations and the termination of this
Agreement.

 

(e)           
Obligations Absolute. The obligation of the Borrower to reimburse the L/C Issuer for each drawing under each
Letter of Credit and to repay each L/C Borrowing shall be absolute, unconditional and irrevocable, and shall be paid strictly in
accordance with the terms of this Agreement under all circumstances, including the following:

 

(i)             
any lack of validity or enforceability of such Letter of Credit, this Agreement, or any other Loan Document;

 

(ii)            
the existence of any claim, counterclaim, setoff, defense or other right that the Borrower or any Subsidiary may
have at any time against any beneficiary or any transferee of such Letter of Credit (or any Person for whom any such beneficiary
or any such transferee may be acting), the L/C Issuer or any other Person, whether in connection with this Agreement, the transactions
contemplated hereby or by such Letter of Credit or any agreement or instrument relating thereto, or any unrelated transaction;

 

(iii)           
any draft, demand, certificate or other document presented under such Letter of Credit proving to be forged, fraudulent,
invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; or any loss or delay
in the transmission or otherwise of any document required in order to make a drawing under such Letter of Credit;

 

(iv)           
any payment by the L/C Issuer under such Letter of Credit against presentation of a draft or certificate that does
not strictly comply with the terms of such Letter of Credit; or any payment made by the L/C Issuer under such Letter of Credit
to any Person purporting to be a trustee in bankruptcy, debtor-in-possession, assignee for the benefit of creditors, liquidator,
receiver or other representative of or successor to any beneficiary or any transferee of such Letter of Credit, including any arising
in connection with any proceeding under any Debtor Relief Law; or

 

    41

     

    

 

(v)            
any other circumstance or happening whatsoever, whether or not similar to any of the foregoing, including any other
circumstance that might otherwise constitute a defense available to, or a discharge of, the Borrower or any Subsidiary.

 

The Borrower shall
promptly examine a copy of each Letter of Credit and each amendment thereto that is delivered to it and, in the event of any claim
of noncompliance with the Borrower’s instructions or other irregularity, the Borrower will immediately notify the L/C Issuer.
The Borrower shall be conclusively deemed to have waived any such claim against the L/C Issuer and its correspondents unless such
notice is given as aforesaid.

 

(f)            
Role of L/C Issuer. Each Lender and the Borrower agree that, in paying any drawing under a Letter of Credit,
the L/C Issuer shall not have any responsibility to obtain any document (other than any sight draft, certificates and documents
expressly required by the Letter of Credit) or to ascertain or inquire as to the validity or accuracy of any such document or the
authority of the Person executing or delivering any such document. None of the L/C Issuer, the Administrative Agent, any of their
respective Related Parties nor any correspondent, participant or assignee of the L/C Issuer shall be liable to any Lender for (i) any
action taken or omitted in connection herewith at the request or with the approval of the Lenders or the Required Lenders, as applicable;
(ii) any action taken or omitted in the absence of gross negligence or willful misconduct; or (iii) the due execution,
effectiveness, validity or enforceability of any document or instrument related to any Letter of Credit or Issuer Document. The
Borrower hereby assumes all risks of the acts or omissions of any beneficiary or transferee with respect to its use of any Letter
of Credit; provided, however, that this assumption is not intended to, and shall not, preclude the Borrower’s
pursuing such rights and remedies as it may have against the beneficiary or transferee at law or under any other agreement. None
of the L/C Issuer, the Administrative Agent, any of their respective Related Parties nor any correspondent, participant or assignee
of the L/C Issuer shall be liable or responsible for any of the matters described in clauses (i) through (v) of Section 2.04(e);
provided, however, that anything in such clauses to the contrary notwithstanding, the Borrower may have a claim against
the L/C Issuer, and the L/C Issuer may be liable to the Borrower, to the extent, but only to the extent, of any direct, as opposed
to consequential or exemplary, damages suffered by the Borrower which the Borrower proves were caused by the L/C Issuer’s
willful misconduct or gross negligence or the L/C Issuer’s willful failure to pay under any Letter of Credit after the presentation
to it by the beneficiary of a sight draft and certificate(s) strictly complying with the terms and conditions of a Letter of Credit.
In furtherance and not in limitation of the foregoing, the L/C Issuer may accept documents that appear on their face to be in order,
without responsibility for further investigation, regardless of any notice or information to the contrary, and the L/C Issuer shall
not be responsible for the validity or sufficiency of any instrument transferring or assigning or purporting to transfer or assign
a Letter of Credit or the rights or benefits thereunder or proceeds thereof, in whole or in part, which may prove to be invalid
or ineffective for any reason. Each L/C Issuer shall provide to the Administrative Agent a list of outstanding Letters of Credit
(together with amounts) issued by it on a monthly basis; the Administrative Agent shall provide a copy of such list to any Lender
upon request.

 

    42

     

    

 

(g)           
Applicability of ISP and UCP. Unless otherwise expressly agreed by the L/C Issuer and the Borrower when a
Letter of Credit is issued (including any such agreement applicable to an Existing Letter of Credit), (i) the rules of the ISP
shall apply to each standby Letter of Credit, and (ii) the rules of the Uniform Customs and Practice for Documentary Credits, as
most recently published by the International Chamber of Commerce at the time of issuance shall apply to each commercial Letter
of Credit.

 

(h)           
Letter of Credit Fees. The Borrower shall pay to the Administrative Agent for the account of each Lender in
accordance with its Applicable Percentage a Letter of Credit fee (the “Letter of Credit Fee”) for each Letter
of Credit equal to the Applicable Rate times the daily amount available to be drawn under such Letter of Credit; provided,
however, any Letter of Credit Fees otherwise payable for the account of a Defaulting Lender with respect to any Letter of Credit
as to which such Defaulting Lender has not provided Cash Collateral satisfactory to the L/C Issuer pursuant to this Section 2.04
shall be payable, to the maximum extent permitted by applicable Law, to the other Lenders in accordance with the upward adjustments
in their respective Applicable Percentages allocable to such Letter of Credit pursuant to Section 2.18(a)(iv), with
the balance of such fee, if any, payable to the L/C Issuer for its own account. For purposes of computing the daily amount available
to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06.
Letter of Credit Fees shall be (i) due and payable on the first Business Day after the end of each Fiscal Quarter, commencing
with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter
on demand and (ii) computed on a quarterly basis in arrears. If there is any change in the Applicable Rate during any quarter,
the daily amount available to be drawn under each standby Letter of Credit shall be computed and multiplied by the Applicable Rate
separately for each period during such quarter that such Applicable Rate was in effect. Notwithstanding anything to the contrary
contained herein, upon the request of the Required Lenders, while any Event of Default exists, all Letter of Credit Fees shall
accrue at the Default Rate.

 

(i)            
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrower shall pay directly
to the L/C Issuer for its own account a fronting fee with respect to each Letter of Credit, at the rate of 0.125% per annum, computed
on the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee shall
be due and payable on the tenth Business Day after the end of each March, June, September and December in respect of the most recently-ended
quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the
issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing
the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance
with Section 1.06. In addition, the Borrower shall pay directly to the L/C Issuer for its own account the customary
issuance, presentation, amendment and other processing fees, and other standard costs and charges, of the L/C Issuer relating to
letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand
and are nonrefundable.

 

    43

     

    

 

(j)           
Conflict with Issuer Documents. In the event of any conflict between the terms hereof and the terms of any
Issuer Document, the terms hereof shall control.

 

(k)          
Letters of Credit Issued for Subsidiaries. Notwithstanding that a Letter of Credit issued or outstanding hereunder
is in support of any obligations of, or is for the account of, a Subsidiary, the Borrower shall be obligated to reimburse the L/C
Issuer hereunder for any and all drawings under such Letter of Credit. The Borrower hereby acknowledges that the issuance of Letters
of Credit for the account of Subsidiaries inures to the benefit of the Borrower, and that the Borrower’s business derives
substantial benefit from the businesses of such Subsidiaries.

 

2.05        
Swing Line Loans.

 

(a)          
The Swing Line. Subject to the terms and conditions set forth herein, the Swing Line Lender, in reliance upon
the agreements of the other Lenders set forth in this Section 2.05, may in its sole discretion make loans (each such
loan, a “Swing Line Loan”) to the Borrower from time to time on any Business Day during the Availability Period
in an aggregate amount not to exceed at any time outstanding the amount of the Swing Line Sublimit, notwithstanding the fact that
such Swing Line Loans, when aggregated with the Applicable Percentage of the Outstanding Amount of Committed Loans and L/C Obligations
of the Lender acting as Swing Line Lender, may exceed the amount of such Lender’s Commitment; provided, however,
that after giving effect to any Swing Line Loan, (i) the Total Outstandings shall not exceed the Aggregate Commitments, and
(ii) the aggregate Outstanding Amount of the Committed Loans of any Lender, plus such Lender’s Applicable Percentage
of the Outstanding Amount of all L/C Obligations, plus such Lender’s Applicable Percentage of the Outstanding Amount
of all Swing Line Loans shall not exceed such Lender’s Commitment, and provided, further, that the Borrower
shall not use the proceeds of any Swing Line Loan to refinance any outstanding Swing Line Loan. Within the foregoing limits, and
subject to the other terms and conditions hereof, the Borrower may borrow under this Section 2.05, prepay under Section 2.06,
and reborrow under this Section 2.05. Each Swing Line Loan shall be a Base Rate Loan. Immediately upon the making of
a Swing Line Loan, each Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the Swing
Line Lender a risk participation in such Swing Line Loan in an amount equal to the product of such Lender’s Applicable Percentage
times the amount of such Swing Line Loan.

 

(b)          
Borrowing Procedures. Each Swing Line Borrowing shall be made upon the Borrower’s irrevocable notice
to the Swing Line Lender and the Administrative Agent, which may be given by (A) telephone or (B) a Swing Line Loan Notice; provided
that any telephonic notice must be confirmed promptly by delivery to the Swing Line Lender and the Administrative Agent of a Swing
Line Loan Notice. Each such notice must be received by the Swing Line Lender and the Administrative Agent not later than 1:00 p.m.
on the requested borrowing date, and shall specify (i) the amount to be borrowed, which shall be a minimum of $100,000, and
(ii) the requested borrowing date, which shall be a Business Day. Each such telephonic notice must be confirmed promptly by
delivery to the Swing Line Lender and the Administrative Agent of a written Swing Line Loan Notice, appropriately completed and
signed by a Responsible Officer of the Borrower. Promptly after receipt by the Swing Line Lender of any telephonic Swing Line Loan
Notice, the Swing Line Lender will confirm with the Administrative Agent (by telephone or in writing) that the Administrative Agent
has also received such Swing Line Loan Notice and, if not, the Swing Line Lender will notify the Administrative Agent (by telephone
or in writing) of the contents thereof. Unless the Swing Line Lender has received notice (by telephone or in writing) from the
Administrative Agent (including at the request of any Lender) prior to 2:00 p.m. on the date of the proposed Swing Line Borrowing
(A) directing the Swing Line Lender not to make such Swing Line Loan as a result of the limitations set forth in the first
proviso to the first sentence of Section 2.05(a), or (B) that one or more of the applicable conditions specified
in Article IV is not then satisfied, then, subject to the terms and conditions hereof, the Swing Line Lender will,
not later than 3:00 p.m. on the borrowing date specified in such Swing Line Loan Notice, make the amount of its Swing Line
Loan available to the Borrower.

 

    44

     

    

 

(c)           
Refinancing of Swing Line Loans.

 

(i)            
The Swing Line Lender at any time in its sole discretion may request, on behalf of the Borrower (which hereby irrevocably
authorizes the Swing Line Lender to so request on its behalf), that each Lender make a Base Rate Committed Loan in an amount equal
to such Lender’s Applicable Percentage of the amount of Swing Line Loans then outstanding. Such request shall be made in
writing (which written request shall be deemed to be a Committed Loan Notice for purposes hereof) and in accordance with the requirements
of Section 2.02, without regard to the minimum and multiples specified therein for the principal amount of Base Rate
Loans, but subject to the unutilized portion of the Aggregate Commitments and the conditions set forth in Section 4.02.
The Swing Line Lender shall furnish the Borrower with a copy of the applicable Committed Loan Notice promptly after delivering
such notice to the Administrative Agent. Each Lender shall make an amount equal to its Applicable Percentage of the amount specified
in such Committed Loan Notice available to the Administrative Agent in immediately available funds (and the Administrative Agent
may apply Cash Collateral available with respect to the applicable Swing Line Loan) for the account of the Swing Line Lender at
the Administrative Agent’s Office not later than 1:00 p.m. on the day specified in such Committed Loan Notice, whereupon,
subject to Section 2.05(c)(ii), each Lender that so makes funds available shall be deemed to have made a Base Rate
Committed Loan to the Borrower in such amount. The Administrative Agent shall remit the funds so received to the Swing Line Lender.

 

(ii)             
If for any reason any Swing Line Loan cannot be refinanced by such a Committed Borrowing in accordance with Section 2.05(c)(i),
the request for Base Rate Committed Loans submitted by the Swing Line Lender as set forth herein shall be deemed to be a request
by the Swing Line Lender that each of the Lenders fund its risk participation in the relevant Swing Line Loan and each Lender’s
payment to the Administrative Agent for the account of the Swing Line Lender pursuant to Section 2.05(c)(i) shall be
deemed payment in respect of such participation.

 

(iii)           
If any Lender fails to make available to the Administrative Agent for the account of the Swing Line Lender any amount
required to be paid by such Lender pursuant to the foregoing provisions of this Section 2.05(c) by the time specified
in Section 2.05(c)(i), the Swing Line Lender shall be entitled to recover from such Lender (acting through the Administrative
Agent), on demand, such amount with interest thereon for the period from the date such payment is required to the date on which
such payment is immediately available to the Swing Line Lender at a rate per annum equal to the greater of the Federal Funds Rate
and a rate determined by the Swing Line Lender in accordance with banking industry rules on interbank compensation, plus any administrative,
processing or similar fees customarily charged by the Swing Line Lender in connection with the foregoing. If such Lender pays such
amount (with interest and fees as aforesaid), the amount so paid shall constitute such Lender’s Committed Loan included in
the relevant Committed Borrowing or funded participation in the relevant Swing Line Loan, as the case may be. A certificate of
the Swing Line Lender submitted to any Lender (through the Administrative Agent) with respect to any amounts owing under this clause (iii)
shall be conclusive absent manifest error.

 

    45

     

    

 

(iv)            
Each Lender’s obligation to make Committed Loans or to purchase and fund risk participations in Swing Line
Loans pursuant to this Section 2.05(c) shall be absolute and unconditional and shall not be affected by any circumstance,
including (A) any setoff, counterclaim, recoupment, defense or other right which such Lender may have against the Swing Line
Lender, the Borrower or any other Person for any reason whatsoever, (B) the occurrence or continuance of a Default, or (C) any
other occurrence, event or condition, whether or not similar to any of the foregoing; provided, however, that each
Lender’s obligation to make Committed Loans pursuant to this Section 2.05(c) is subject to the conditions set
forth in Section 4.02. No such funding of risk participations shall relieve or otherwise impair the obligation of the
Borrower to repay Swing Line Loans, together with interest as provided herein.

 

(d)           
Repayment of Participations.

 

(i)             
At any time after any Lender has purchased and funded a risk participation in a Swing Line Loan, if the Swing Line
Lender receives any payment on account of such Swing Line Loan, the Swing Line Lender will distribute to such Lender its Applicable
Percentage thereof in the same funds as those received by the Swing Line Lender.

 

(ii)           
If any payment received by the Swing Line Lender in respect of principal or interest on any Swing Line Loan is required
to be returned by the Swing Line Lender under any of the circumstances described in Section 10.05 (including pursuant
to any settlement entered into by the Swing Line Lender in its discretion), each Lender shall pay to the Swing Line Lender its
Applicable Percentage thereof on demand of the Administrative Agent, plus interest thereon from the date of such demand to the
date such amount is returned, at a rate per annum equal to the Federal Funds Rate. The Administrative Agent will make such demand
upon the request of the Swing Line Lender. The obligations of the Lenders under this clause shall survive the payment in full of
the Obligations and the termination of this Agreement.

 

(e)           
Interest for Account of Swing Line Lender. The Swing Line Lender shall be responsible for invoicing the Borrower
for interest on the Swing Line Loans. Until each Lender funds its Base Rate Committed Loan or risk participation pursuant to this
Section 2.05 to refinance such Lender’s Applicable Percentage of any Swing Line Loan, interest in respect of
such Applicable Percentage shall be solely for the account of the Swing Line Lender.

 

    46

     

    

 

(f)           
Payments Directly to Swing Line Lender. The Borrower shall make all payments of principal and interest in
respect of the Swing Line Loans directly to the Swing Line Lender.

 

2.06       
Prepayments.

 

(a)          
The Borrower may, upon delivery of a Notice of Committed Loan Prepayment to the Administrative Agent, at any time
or from time to time voluntarily prepay Committed Loans in whole or in part without premium or penalty; provided that (i) such
notice must be received by the Administrative Agent not later than 11:00 a.m. (A) three Business Days prior to any date
of prepayment of Eurodollar Rate Committed Loans and (B) on the date of prepayment of Base Rate Committed Loans; (ii) any
prepayment of Eurodollar Rate Committed Loans shall be in a principal amount of $5,000,000 or a whole multiple of $1,000,000 in
excess thereof; and (iii) any prepayment of Base Rate Committed Loans shall be in a principal amount of $500,000 or a whole
multiple of $100,000 in excess thereof or, in each case, if less, the entire principal amount thereof then outstanding. Each such
notice shall specify the date and amount of such prepayment and the Type(s) of Committed Loans to be prepaid and, if Eurodollar
Rate Committed Loans are to be prepaid, the Interest Period(s) of such Loans. The Administrative Agent will promptly notify each
Lender of its receipt of each such notice, and of the amount of such Lender’s Applicable Percentage of such prepayment. If
such notice is given by the Borrower, the Borrower shall make such prepayment and the payment amount specified in such notice shall
be due and payable on the date specified therein. Any prepayment of a Eurodollar Rate Loan shall be accompanied by all accrued
interest on the amount prepaid, together with any additional amounts required pursuant to Section 3.05. Subject to
Section 2.18, each such prepayment shall be applied to the Committed Loans of the Lenders in accordance with their
respective Applicable Percentages.

 

(b)           
[Reserved].

 

(c)          
The Borrower may, upon notice to the Swing Line Lender (with a copy to the Administrative Agent), at any time or
from time to time, voluntarily prepay Swing Line Loans in whole or in part without premium or penalty; provided that (i) such
notice must be received by the Swing Line Lender and the Administrative Agent not later than 1:00 p.m. on the date of the
prepayment, and (ii) any such prepayment shall be in a minimum principal amount of $100,000. Each such notice shall specify
the date and amount of such prepayment. If such notice is given by the Borrower, the Borrower shall make such prepayment and the
payment amount specified in such notice shall be due and payable on the date specified therein.

 

(d)          
If for any reason the Total Outstandings at any time exceed the Aggregate Commitments then in effect, the Borrower
shall immediately prepay Loans and/or Cash Collateralize the L/C Obligations in an aggregate amount equal to such excess; provided,
however, that the Borrower shall not be required to Cash Collateralize the L/C Obligations pursuant to this Section 2.06(d)
unless after the prepayment in full of the Committed Loans and Swing Line Loans the Total Outstandings exceed the Aggregate Commitments
then in effect.

 

2.07      
Termination or Reduction of Commitments.
The Borrower may, upon notice to the Administrative Agent, terminate the Aggregate Commitments, or from time to time permanently
reduce the Aggregate Commitments; provided that (i) any such notice shall be received by the Administrative Agent not
later than 11:00 a.m. five Business Days prior to the date of termination or reduction, (ii) any such partial reduction
shall be in an aggregate amount of $2,000,000 or any whole multiple of $1,000,000 in excess thereof, (iii) the Borrower shall
not terminate or reduce the Aggregate Commitments if, after giving effect thereto and to any concurrent prepayments hereunder,
the Total Outstandings would exceed the Aggregate Commitments, and (iv) if, after giving effect to any reduction of the Aggregate
Commitments, the Letter of Credit Sublimit or the Swing Line Sublimit exceeds the amount of the Aggregate Commitments, such Sublimit
shall be automatically reduced by the amount of such excess. The Administrative Agent will promptly notify the Lenders of any such
notice of termination or reduction of the Aggregate Commitments. Any reduction of the Aggregate Commitments shall be applied to
the Commitment of each Lender according to its Applicable Percentage. All fees accrued until the effective date of any termination
of the Aggregate Commitments shall be paid on the effective date of such termination.

 

    47

     

    

 

2.08       
Repayment of Loans.

 

(a)           
The Borrower shall repay to the Lenders on the Maturity Date the aggregate principal amount of Committed Loans outstanding
on such date.

 

(b)          
The Borrower shall repay each Swing Line Loan on the earlier to occur of (i) the date ten Business Days after
such Loan is made and (ii) the Maturity Date.

 

2.09        
Interest.

 

(a)           
Subject to the provisions of subsection (b) below, (i) each Eurodollar Rate Committed Loan shall bear interest
on the outstanding principal amount thereof for each Interest Period at a rate per annum equal to the Eurodollar Rate for such
Interest Period plus the Applicable Rate; (ii) each Base Rate Committed Loan shall bear interest on the outstanding
principal amount thereof from the applicable borrowing date at a rate per annum equal to the Base Rate plus the Applicable
Rate; and (iii) each Swing Line Loan shall bear interest on the outstanding principal amount thereof from the applicable borrowing
date at a rate per annum equal to the Base Rate plus the Applicable Rate.

 

(b)           
(i)            If any amount of principal of any Loan is not paid when due (without regard to any applicable grace periods),
whether at stated maturity, by acceleration or otherwise, such amount shall thereafter bear interest at a fluctuating interest
rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws.

 

(ii)             
If any amount (other than principal of any Loan) payable by the Borrower under any Loan Document is not paid when
due (without regard to any applicable grace periods), whether at stated maturity, by acceleration or otherwise, then upon the request
of the Required Lenders, such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal
to the Default Rate to the fullest extent permitted by applicable Laws.

 

(iii)          
Upon the request of the Required Lenders, while any Event of Default exists, the Borrower shall pay interest on the
principal amount of all outstanding Obligations hereunder at a fluctuating interest rate per annum at all times equal to the Default
Rate to the fullest extent permitted by applicable Laws.

 

    48

     

    

 

(iv)          
Accrued and unpaid interest on past due amounts (including interest on past due interest to the extent permitted
by applicable Law) shall be due and payable upon demand.

 

(c)           
Interest on each Loan shall be due and payable in arrears on each Interest Payment Date applicable thereto and at
such other times as may be specified herein. Interest hereunder shall be due and payable in accordance with the terms hereof before
and after judgment, and before and after the commencement of any proceeding under any Debtor Relief Law.

 

2.10        
Fees. In addition to certain fees described in subsections (h) and
(i) of Section 2.04:

 

(a)          
Commitment Fee. The Borrower shall pay to the Administrative Agent for the account of each Lender in accordance
with its Applicable Percentage, a commitment fee equal to the Applicable Rate times the actual daily amount by which the
Aggregate Commitments exceed the sum of (i) the Outstanding Amount of Committed Loans and (ii) the Outstanding Amount
of L/C Obligations, subject to adjustment as provided in Section 2.18. The commitment fee shall accrue at all times
during the Availability Period, including at any time during which one or more of the conditions in Article IV is not
met, and shall be due and payable quarterly in arrears on the last Business Day of each Fiscal Quarter, commencing with the first
such date to occur after the Closing Date, and on the last day of the Availability Period. The commitment fee shall be calculated
quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed
and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.

 

(b)          
Other Fees. (i) The Borrower shall pay to the Arranger and the Administrative Agent for their own respective
accounts fees in the amounts and at the times specified in the Fee Letter. Such fees shall be fully earned when paid and shall
not be refundable for any reason whatsoever.

 

(ii)           
The Borrower shall pay to the Lenders such fees as shall have been separately agreed upon in writing in the amounts
and at the times so specified. Such fees shall be fully earned when paid and shall not be refundable for any reason whatsoever.

 

2.11       
Computation of Interest and Fees; Retroactive Adjustments of Applicable Rate.

 

(a)          
All computations of interest for Base Rate Loans (including Base Rate Loans determined by reference to the Eurodollar
Rate) shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations
of fees and interest shall be made on the basis of a 360-day year and actual days elapsed (which results in more fees or interest,
as applicable, being paid than if computed on the basis of a 365-day year). Interest shall accrue on each Loan for the day on which
the Loan is made, and shall not accrue on a Loan, or any portion thereof, for the day on which the Loan or such portion is paid,
provided that any Loan that is repaid on the same day on which it is made shall, subject to Section 2.13(a),
bear interest for one day. Each determination by the Administrative Agent of an interest rate or fee hereunder shall be conclusive
and binding for all purposes, absent manifest error.

 

    49

     

    

 

(b)          
If, as a result of any restatement of or other adjustment to the financial statements of the Borrower or for any
other reason, the Borrower or the Lenders determine that (i) the Adjusted Total Debt to EBITDA Ratio as calculated by the
Borrower as of any applicable date was inaccurate and (ii) a proper calculation of the Adjusted Total Debt to EBITDA Ratio
would have resulted in higher pricing for such period, the Borrower shall immediately and retroactively be obligated to pay to
the Administrative Agent for the account of the applicable Lenders or the L/C Issuer, as the case may be, promptly on demand by
the Administrative Agent (or, after the occurrence of an actual or deemed entry of an order for relief with respect to the Borrower
under the Bankruptcy Code of the United States, automatically and without further action by the Administrative Agent, any Lender
or the L/C Issuer), an amount equal to the excess of the amount of interest and fees that should have been paid for such period
over the amount of interest and fees actually paid for such period. This paragraph shall not limit the rights of the Administrative
Agent, any Lender or the L/C Issuer, as the case may be, under Section 2.04(c)(iii), 2.04(h) or 2.09(b)
or under Article VIII. The Borrower’s obligations under this paragraph shall survive the termination of the Aggregate
Commitments and the repayment of all other Obligations hereunder.

 

2.12        
Evidence of Debt.

 

(a)          
The Credit Extensions made by each Lender shall be evidenced by one or more accounts or records maintained by such
Lender and by the Administrative Agent in the ordinary course of business. The accounts or records maintained by the Administrative
Agent and each Lender shall be conclusive absent manifest error of the amount of the Credit Extensions made by the Lenders to the
Borrower and the interest and payments thereon. Any failure to so record or any error in doing so shall not, however, limit or
otherwise affect the obligation of the Borrower hereunder to pay any amount owing with respect to the Obligations. In the event
of any conflict between the accounts and records maintained by any Lender and the accounts and records of the Administrative Agent
in respect of such matters, the accounts and records of the Administrative Agent shall control in the absence of manifest error.
Upon the request of any Lender made through the Administrative Agent, the Borrower shall execute and deliver to such Lender (through
the Administrative Agent) a Note, which shall evidence such Lender’s Loans in addition to such accounts or records. Each
Lender may attach schedules to its Note and endorse thereon the date, Type (if applicable), amount and maturity of its Loans and
payments with respect thereto.

 

(b)          
In addition to the accounts and records referred to in subsection (a), each Lender and the Administrative Agent
shall maintain in accordance with its usual practice accounts or records evidencing the purchases and sales by such Lender of participations
in Letters of Credit and Swing Line Loans. In the event of any conflict between the accounts and records maintained by the Administrative
Agent and the accounts and records of any Lender in respect of such matters, the accounts and records of the Administrative Agent
shall control in the absence of manifest error.

 

    50

     

    

 

2.13        
Payments Generally; Administrative Agent’s Clawback.

 

(a)           
General. All payments to be made by the Borrower shall be made without condition or deduction for any counterclaim,
defense, recoupment or setoff. Except as otherwise expressly provided herein, all payments by the Borrower hereunder shall be made
to the Administrative Agent, for the account of the respective Lenders to which such payment is owed, at the Administrative Agent’s
Office in Dollars and in immediately available funds not later than 2:00 p.m. on the date specified herein. The Administrative
Agent will promptly distribute to each Lender its Applicable Percentage (or other applicable share as provided herein) of such
payment in like funds as received by wire transfer to such Lender’s Lending Office. All payments received by the Administrative
Agent after 2:00 p.m. shall be deemed received on the next succeeding Business Day and any applicable interest or fee shall
continue to accrue. If any payment to be made by the Borrower shall come due on a day other than a Business Day, payment shall
be made on the next following Business Day, and such extension of time shall be reflected in computing interest or fees, as the
case may be.

 

(b)          
(i)            Funding by Lenders; Presumption by Administrative Agent. Unless the Administrative Agent shall have received
notice from a Lender prior to the proposed date of any Committed Borrowing of Eurodollar Rate Loans (or, in the case of any Committed
Borrowing of Base Rate Loans, prior to 12:00 noon on the date of such Committed Borrowing) that such Lender will not make available
to the Administrative Agent such Lender’s share of such Committed Borrowing, the Administrative Agent may assume that such
Lender has made such share available on such date in accordance with Section 2.02 (or, in the case of a Committed Borrowing
of Base Rate Loans, that such Lender has made such share available in accordance with and at the time required by Section 2.02)
and may, in reliance upon such assumption, make available to the Borrower a corresponding amount. In such event, if a Lender has
not in fact made its share of the applicable Committed Borrowing available to the Administrative Agent, then the applicable Lender
and the Borrower severally agree to pay to the Administrative Agent forthwith on demand such corresponding amount in immediately
available funds with interest thereon, for each day from and including the date such amount is made available to the Borrower to
but excluding the date of payment to the Administrative Agent, at (A) in the case of a payment to be made by such Lender,
the greater of the Federal Funds Rate and a rate determined by the Administrative Agent in accordance with banking industry rules
on interbank compensation, plus any administrative, processing or similar fees customarily charged by the Administrative Agent
in connection with the foregoing, and (B) in the case of a payment to be made by the Borrower, the interest rate applicable
to Base Rate Loans. If the Borrower and such Lender shall pay such interest to the Administrative Agent for the same or an overlapping
period, the Administrative Agent shall promptly remit to the Borrower the amount of such interest paid by the Borrower for such
period. If such Lender pays its share of the applicable Committed Borrowing to the Administrative Agent, then the amount so paid
shall constitute such Lender’s Committed Loan included in such Committed Borrowing. Any payment by the Borrower shall be
without prejudice to any claim the Borrower may have against a Lender that shall have failed to make such payment to the Administrative
Agent.

 

(ii)            
Payments by Borrower; Presumptions by Administrative Agent. Unless the Administrative Agent shall have received
notice from the Borrower prior to the date on which any payment is due to the Administrative Agent for the account of the Lenders
or the L/C Issuer hereunder that the Borrower will not make such payment, the Administrative Agent may assume that the Borrower
has made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Lenders
or the L/C Issuer, as the case may be, the amount due. In such event, if the Borrower has not in fact made such payment, then each
of the Lenders or the L/C Issuer, as the case may be, severally agrees to repay to the Administrative Agent forthwith on demand
the amount so distributed to such Lender or the L/C Issuer, in immediately available funds with interest thereon, for each day
from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent,
at the greater of the Federal Funds Rate and a rate determined by the Administrative Agent in accordance with banking industry
rules on interbank compensation.

 

    51

     

    

 

A notice of the Administrative
Agent to any Lender or the Borrower with respect to any amount owing under this subsection (b) shall be conclusive, absent
manifest error.

 

(c)            
Failure to Satisfy Conditions Precedent. If any Lender makes available to the Administrative Agent funds for
any Loan to be made by such Lender as provided in the foregoing provisions of this Article II, and such funds are not
made available to the Borrower by the Administrative Agent because the conditions to the applicable Credit Extension set forth
in Article IV are not satisfied or waived in accordance with the terms hereof, the Administrative Agent shall return
such funds (in like funds as received from such Lender) to such Lender, without interest.

 

(d)          
Obligations of Lenders Several. The obligations of the Lenders hereunder to make Committed Loans, to fund
participations in Letters of Credit and Swing Line Loans and to make payments pursuant to Section 10.04(c) are several
and not joint. The failure of any Lender to make any Committed Loan, to fund any such participation or to make any payment under
Section 10.04(c) on any date required hereunder shall not relieve any other Lender of its corresponding obligation
to do so on such date, and no Lender shall be responsible for the failure of any other Lender to so make its Committed Loan, to
purchase its participation or to make its payment under Section 10.04(c).

 

(e)           
Funding Source. Nothing herein shall be deemed to obligate any Lender to obtain the funds for any Loan in
any particular place or manner or to constitute a representation by any Lender that it has obtained or will obtain the funds for
any Loan in any particular place or manner.

 

2.14        
Sharing of Payments by Lenders. If any Lender shall, by exercising any
right of setoff or counterclaim or otherwise, obtain payment in respect of any principal of or interest on any of the Committed
Loans made by it, or the participations in L/C Obligations or in Swing Line Loans held by it resulting in such Lender’s receiving
payment of a proportion of the aggregate amount of such Committed Loans or participations and accrued interest thereon greater
than its pro rata share thereof as provided herein, then the Lender receiving such greater proportion shall (a) notify
the Administrative Agent of such fact, and (b) purchase (for cash at face value) participations in the Committed Loans and
subparticipations in L/C Obligations and Swing Line Loans of the other Lenders, or make such other adjustments as shall be equitable,
so that the benefit of all such payments shall be shared by the Lenders ratably in accordance with the aggregate amount of principal
of and accrued interest on their respective Committed Loans and other amounts owing them, provided that:

 

    52

     

    

 

(i)             
if any such participations or subparticipations are purchased and all or any portion of the payment giving rise thereto
is recovered, such participations or subparticipations shall be rescinded and the purchase price restored to the extent of such
recovery, without interest; and

 

(ii)            
the provisions of this Section shall not be construed to apply to (x) any payment made by or on behalf of the
Borrower pursuant to and in accordance with the express terms of this Agreement (including the application of funds arising from
the existence of a Defaulting Lender), (y) the application of Cash Collateral provided for in Section 2.17, or
(z) any payment obtained by a Lender as consideration for the assignment of or sale of a participation in any of its Committed
Loans or subparticipations in L/C Obligations or Swing Line Loans to any assignee or participant, other than an assignment to the
Borrower or any Affiliate thereof (as to which the provisions of this Section shall apply).

 

Each Loan Party consents
to the foregoing and agrees, to the extent it may effectively do so under applicable law, that any Lender acquiring a participation
pursuant to the foregoing arrangements may exercise against such Loan Party rights of setoff and counterclaim with respect to such
participation as fully as if such Lender were a direct creditor of such Loan Party in the amount of such participation.

 

2.15       
[Reserved].

 

2.16   
    Increase in Commitments.

 

(a)          
Request for Increase. Provided there exists no Default, upon notice to the Administrative Agent (which shall
promptly notify the Lenders), the Borrower may from time to time, request an increase in the Aggregate Commitments by an amount
(for all such requests) not exceeding $250,000,000300,000,000;
provided that (i) any such request for an increase shall be in a minimum amount of $5,000,000. At the time of sending such
notice, the Borrower (in consultation with the Administrative Agent) shall specify the time period within which each Lender is
requested to respond (which shall in no event be less than ten Business Days from the date of delivery of such notice to the Lenders).

 

(b)           
Lender Elections to Increase. Each Lender shall notify the Administrative Agent within such time period whether
or not it agrees to increase its Commitment and, if so, whether by an amount equal to, greater than, or less than its Applicable
Percentage of such requested increase. Any Lender not responding within such time period shall be deemed to have declined to increase
its Commitment.

 

(c)           
Notification by Administrative Agent; Additional Lenders. The Administrative Agent shall notify the Borrower
and each Lender of the Lenders’ responses to each request made hereunder. To achieve the full amount of a requested increase
and subject to the approval of the Administrative Agent, the L/C Issuer and the Swing Line Lender (which approvals shall not be
unreasonably withheld), the Borrower may also invite additional Eligible Assignees to become Lenders pursuant to a joinder agreement
in form and substance satisfactory to the Administrative Agent and its counsel.

 

    53

     

    

 

(d)          
Effective Date and Allocations. If the Aggregate Commitments are increased in accordance with this Section,
the Administrative Agent and the Borrower shall determine the effective date (the “Increase Effective Date”)
and the final allocation of such increase. The Administrative Agent shall promptly notify the Borrower and the Lenders of the final
allocation of such increase and the Increase Effective Date.

 

(e)           
Conditions to Effectiveness of Increase. As a condition precedent to such increase, (i)
the Borrower shall deliver to the Administrative Agent a certificate of each Loan Party dated as of the Increase Effective Date
(in sufficient copies for each Lender) signed by a Responsible Officer of such Loan Party (x) certifying and attaching the
resolutions adopted by such Loan Party approving or consenting to such increase, and (y) in the case of the Borrower, certifying
that, before and after giving effect to such increase, (A) the representations and warranties contained in Article V
and the other Loan Documents are true and correct on and as of the Increase Effective Date, except to the extent that such representations
and warranties specifically refer to an earlier date, in which case they are true and correct as of such earlier date, and except
that for purposes of this Section 2.16, the representations and warranties contained in subsections (a) and (b) of
Section 5.05 shall be deemed to refer to the most recent statements furnished pursuant to clauses (a) and (b),
respectively, of Section 6.01, and (B) no Default exists,
(ii) (x) upon the reasonable request of any Lender made at least five (5) days prior to the Increase Effective Date, the Borrower
shall have provided to such Lender, and such Lender shall be reasonably satisfied with, the documentation and other information
so requested in connection with applicable “know your customer” and anti-money-laundering rules and regulations, including,
without limitation, the PATRIOT Act, in each case at least five (5) days prior to the Increase Effective Date and (y) at least
five (5) days prior to the Increase Effective Date, any Loan Party that qualifies as a “legal entity customer” under
the Beneficial Ownership Regulation shall have delivered, to each Lender that so requests, a Beneficial Ownership Certification
in relation to such Loan Party, and (iii) to the extent that the increase of the Aggregate Commitments shall take the form of a
term loan tranche, this Agreement shall be amended, in form and substance satisfactory to the Administrative Agent to include such
terms as are customary for a term loan commitment. The Borrower shall prepay any Committed Loans outstanding on the
Increase Effective Date (and pay any additional amounts required pursuant to Section 3.05) to the extent necessary
to keep the outstanding Committed Loans ratable with any revised Applicable Percentages arising from any nonratable increase in
the Commitments under this Section.

 

(f)            
Conflicting Provisions. This Section shall supersede any provisions in Section 2.14 or 10.01
to the contrary.

 

2.17       
Cash Collateral.

 

(a)           
Certain Credit Support Events. Upon the request of the Administrative Agent or the L/C Issuer (i) if
the L/C Issuer has honored any full or partial drawing request under any Letter of Credit and such drawing has resulted in an L/C
Borrowing, or (ii) if, as of the Letter of Credit Expiration Date, any L/C Obligation for any reason remains outstanding,
the Borrower shall, in each case, immediately Cash Collateralize the then Outstanding Amount of all L/C Obligations. At any time
that there shall exist a Defaulting Lender, immediately upon the request of the Administrative Agent, the L/C Issuer or the Swing
Line Lender, the Borrower shall deliver to the Administrative Agent Cash Collateral in an amount sufficient to cover all Fronting
Exposure (after giving effect to Section 2.18(a)(iv) and any Cash Collateral provided by the Defaulting Lender).

 

    54

     

    

 

(b)          
Grant of Security Interest. All Cash Collateral (other than credit support not constituting funds subject
to deposit) shall be maintained in blocked, interest bearing deposit accounts at the L/C Issuer. The Borrower, and to the extent
provided by any Lender, such Lender, hereby grants to (and subjects to the control of) the Administrative Agent, for the benefit
of the Administrative Agent, the L/C Issuer and the Lenders (including the Swing Line Lender), and agrees to maintain, a first
priority security interest in all such cash, deposit accounts and all balances therein, and all other property so provided as collateral
pursuant hereto, and in all proceeds of the foregoing, all as security for the obligations to which such Cash Collateral may be
applied pursuant to Section 2.17(c). If at any time the Administrative Agent determines that Cash Collateral is subject
to any right or claim of any Person other than the Administrative Agent as herein provided, or that the total amount of such Cash
Collateral is less than the applicable Fronting Exposure and other obligations secured thereby, the Borrower or the relevant Defaulting
Lender will, promptly upon demand by the Administrative Agent, pay or provide to the Administrative Agent additional Cash Collateral
in an amount sufficient to eliminate such deficiency.

 

(c)           
Application. Notwithstanding anything to the contrary contained in this Agreement, Cash Collateral provided
under any of this Section 2.17 or Sections 2.04, 2.05, 2.06, 2.18 or 8.02 in
respect of Letters of Credit or Swing Line Loans shall be held and applied to the satisfaction of the specific L/C Obligations,
Swing Line Loans, obligations to fund participations therein (including, as to Cash Collateral provided by a Defaulting Lender,
any interest accrued on such obligation) and other obligations for which the Cash Collateral was so provided, prior to any other
application of such property as may be provided for herein.

 

(d)          
Release. Cash Collateral (or the appropriate portion thereof) provided to reduce Fronting Exposure or other
obligations shall be released promptly following (i) the elimination of the applicable Fronting Exposure or other obligations
giving rise thereto (including by the termination of Defaulting Lender status of the applicable Lender (or, as appropriate, its
assignee following compliance with Section 10.06(b)(vi))) or (ii) the Administrative Agent’s good faith
determination that there exists excess Cash Collateral; provided, however, (x) that Cash Collateral furnished by or
on behalf of a Loan Party shall not be released during the continuance of a Default or Event of Default (and following application
as provided in this Section 2.17 may be otherwise applied in accordance with Section 8.03), and (y) the
Person providing Cash Collateral and the L/C Issuer or Swing Line Lender, as applicable, may agree that Cash Collateral shall not
be released but instead held to support future anticipated Fronting Exposure or other obligations.

 

    55

     

    

 

2.18        
Defaulting Lenders.

 

(a)          
Adjustments. Notwithstanding anything to the contrary contained in this Agreement, if any Lender becomes a
Defaulting Lender, then, until such time as that Lender is no longer a Defaulting Lender, to the extent permitted by applicable
Law:

 

(i)            
Waivers and Amendments. That Defaulting Lender’s right to approve or disapprove any amendment, waiver
or consent with respect to this Agreement shall be restricted as set forth in Section 10.01.

 

(ii)            
Reallocation of Payments. Any payment of principal, interest, fees or other amounts received by the Administrative
Agent for the account of that Defaulting Lender (whether voluntary or mandatory, at maturity, pursuant to Article VIII
or otherwise, and including any amounts made available to the Administrative Agent by that Defaulting Lender pursuant to Section 10.08),
shall be applied at such time or times as may be determined by the Administrative Agent as follows: first, to the payment
of any amounts owing by that Defaulting Lender to the Administrative Agent hereunder; second, to the payment on a pro rata
basis of any amounts owing by that Defaulting Lender to the L/C Issuer or Swing Line Lender hereunder; third, if so determined
by the Administrative Agent or requested by the L/C Issuer or Swing Line Lender, to be held as Cash Collateral for future funding
obligations of that Defaulting Lender of any participation in any Swing Line Loan or Letter of Credit; fourth, as the Borrower
may request (so long as no Default or Event of Default exists), to the funding of any Loan in respect of which that Defaulting
Lender has failed to fund its portion thereof as required by this Agreement, as determined by the Administrative Agent; fifth,
if so determined by the Administrative Agent and the Borrower, to be held in a non-interest bearing deposit account and released
in order to satisfy obligations of that Defaulting Lender to fund Loans under this Agreement; sixth, to the payment
of any amounts owing to the Lenders, the L/C Issuer or Swing Line Lender as a result of any judgment of a court of competent jurisdiction
obtained by any Lender, the L/C Issuer or Swing Line Lender against that Defaulting Lender as a result of that Defaulting Lender’s
breach of its obligations under this Agreement; seventh, so long as no Default or Event of Default exists, to the payment
of any amounts owing to the Borrower as a result of any judgment of a court of competent jurisdiction obtained by the Borrower
against that Defaulting Lender as a result of that Defaulting Lender’s breach of its obligations under this Agreement; and
eighth, to that Defaulting Lender or as otherwise directed by a court of competent jurisdiction; provided that if
(x) such payment is a payment of the principal amount of any Loans or L/C Borrowings in respect of which that Defaulting Lender
has not fully funded its appropriate share and (y) such Loans or L/C Borrowings were made at a time when the conditions set
forth in Section 4.02 were satisfied or waived, such payment shall be applied solely to pay the Loans of, and L/C Borrowings
owed to, all non-Defaulting Lenders on a pro rata basis prior to being applied to the payment of any Loans of, or L/C Borrowings
owed to, that Defaulting Lender. Any payments, prepayments or other amounts paid or payable to a Defaulting Lender that are applied
(or held) to pay amounts owed by a Defaulting Lender or to post Cash Collateral pursuant to this Section 2.18(a)(ii)
shall be deemed paid to and redirected by that Defaulting Lender, and each Lender irrevocably consents hereto.

 

    56

     

    

 

(iii)          
Certain Fees. That Defaulting Lender (x) shall not be entitled to receive any commitment fee pursuant
to Section 2.10(a) (and the Borrower shall not be required to pay any such fee that otherwise would have been required
to have been paid to that Defaulting Lender) for any period during which that Lender is a Defaulting Lender and (y) shall
be limited in its right to receive Letter of Credit Fees as provided in Section 2.04(h).

 

(iv)          
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a
Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or
fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.04 and 2.05, the “Applicable
Percentage” of each non-Defaulting Lender shall be computed without giving effect to the Commitment of that Defaulting Lender;
provided, that, (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes
a Defaulting Lender, no Default or Event of Default exists; and (ii) the aggregate obligation of each non-Defaulting Lender
to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference,
if any, of (1) the Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount of the
Committed Loans of that Lender.

 

(b)          
Defaulting Lender Cure. If the Borrower, the Administrative Agent, Swing Line Lender and the L/C Issuer agree
in writing in their sole discretion that a Defaulting Lender should no longer be deemed to be a Defaulting Lender, the Administrative
Agent will so notify the parties hereto, whereupon as of the effective date specified in such notice and subject to any conditions
set forth therein (which may include arrangements with respect to any Cash Collateral), that Lender will, to the extent applicable,
purchase that portion of outstanding Loans of the other Lenders or take such other actions as the Administrative Agent may determine
to be necessary to cause the Committed Loans and funded and unfunded participations in Letters of Credit and Swing Line Loans to
be held on a pro rata basis by the Lenders in accordance with their Applicable Percentages (without giving effect to Section 2.18(a)(iv)),
whereupon that Lender will cease to be a Defaulting Lender; provided that no adjustments will be made retroactively with
respect to fees accrued or payments made by or on behalf of the Borrower while that Lender was a Defaulting Lender; and provided,
further, that except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting
Lender to Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender’s having
been a Defaulting Lender.

 

ARTICLE
III. TAXES, YIELD PROTECTION AND ILLEGALITY

 

3.01        
Taxes.

 

(a)          
Payments Free of Taxes; Obligation to Withhold; Payments on Account of Taxes. (i) Any and all payments
by or on account of any obligation of the Borrower hereunder or under any other Loan Document shall to the extent permitted by
applicable Laws be made free and clear of and without reduction or withholding for any Taxes. If, however, applicable Laws require
the Borrower or the Administrative Agent to withhold or deduct any Tax, such Tax shall be withheld or deducted in accordance with
such Laws as determined by the Borrower or the Administrative Agent, as the case may be, upon the basis of the information and
documentation to be delivered pursuant to subsection (e) below.

 

    57

     

    

 

(ii)             
If the Borrower or the Administrative Agent shall be required by the Code to withhold or deduct any Taxes, including
both United States Federal backup withholding and withholding taxes, from any payment, then (A) the Administrative Agent shall
withhold or make such deductions as are determined by the Administrative Agent to be required based upon the information and documentation
it has received pursuant to subsection (e) below, (B) the Administrative Agent shall timely pay the full amount withheld
or deducted to the relevant Governmental Authority in accordance with the Code, and (C) to the extent that the withholding
or deduction is made on account of Indemnified Taxes or Other Taxes, the sum payable by the Borrower shall be increased as necessary
so that after any required withholding or the making of all required deductions (including deductions applicable to additional
sums payable under this Section) the Administrative Agent, Lender or L/C Issuer, as the case may be, receives an amount equal to
the sum it would have received had no such withholding or deduction been made.

 

(b)          
Payment of Other Taxes by the Borrower. Without limiting the provisions of subsection (a) above, the
Borrower shall timely pay any Other Taxes to the relevant Governmental Authority in accordance with applicable Laws.

 

(c)          
Tax Indemnifications. (i) Without limiting the provisions of subsection (a) or (b) above, the Borrower
shall, and does hereby, indemnify the Administrative Agent, each Lender and the L/C Issuer, and shall make payment in respect thereof
within 10 days after demand therefor, for the full amount of any Indemnified Taxes or Other Taxes (including Indemnified Taxes
or Other Taxes imposed or asserted on or attributable to amounts payable under this Section) withheld or deducted by the Borrower
or the Administrative Agent or paid by the Administrative Agent, such Lender or the L/C Issuer, as the case may be, and any penalties,
interest and reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes or Other Taxes
were correctly or legally imposed or asserted by the relevant Governmental Authority. The Borrower shall also, and does hereby,
indemnify the Administrative Agent, and shall make payment in respect thereof within 10 days after demand therefor, for any
amount which a Lender or the L/C Issuer for any reason fails to pay indefeasibly to the Administrative Agent as required by clause (ii)
of this subsection. A certificate as to the amount of any such payment or liability delivered to the Borrower by a Lender or the
L/C Issuer (with a copy to the Administrative Agent), or by the Administrative Agent on its own behalf or on behalf of a Lender
or the L/C Issuer, shall be conclusive absent manifest error.

 

(ii)           
Without limiting the provisions of subsection (a) or (b) above, each Lender and the L/C Issuer shall, and
does hereby, indemnify the Borrower and the Administrative Agent, and shall make payment in respect thereof within 10 days
after demand therefor, against any and all Taxes and any and all related losses, claims, liabilities, penalties, interest and expenses
(including the fees, charges and disbursements of any counsel for the Borrower or the Administrative Agent) incurred by or asserted
against the Borrower or the Administrative Agent by any Governmental Authority as a result of the failure by such Lender or the
L/C Issuer, as the case may be, to deliver, or as a result of the inaccuracy, inadequacy or deficiency of, any documentation required
to be delivered by such Lender or the L/C Issuer, as the case may be, to the Borrower or the Administrative Agent pursuant to subsection (e).
Each Lender and the L/C Issuer hereby authorizes the Administrative Agent to set off and apply any and all amounts at any time
owing to such Lender or the L/C Issuer, as the case may be, under this Agreement or any other Loan Document against any amount
due to the Administrative Agent under this clause (ii). The agreements in this clause (ii) shall survive the resignation
and/or replacement of the Administrative Agent, any assignment of rights by, or the replacement of, a Lender or the L/C Issuer,
the termination of the Aggregate Commitments and the repayment, satisfaction or discharge of all other Obligations.

 

    58

     

    

 

(d)          
Evidence of Payments. Upon request by the Borrower or the Administrative Agent, as the case may be, after
any payment of Taxes by the Borrower or by the Administrative Agent to a Governmental Authority as provided in this Section 3.01,
the Borrower shall deliver to the Administrative Agent or the Administrative Agent shall deliver to the Borrower, as the case may
be, the original or a certified copy of a receipt issued by such Governmental Authority evidencing such payment, a copy of any
return required by Laws to report such payment or other evidence of such payment reasonably satisfactory to the Borrower or the
Administrative Agent, as the case may be.

 

(e)          
Status of Lenders; Tax Documentation. (i) Each Lender shall deliver to the Borrower and to the Administrative
Agent, at the time or times prescribed by applicable Laws or when reasonably requested by the Borrower or the Administrative Agent,
such properly completed and executed documentation prescribed by applicable Laws or by the taxing authorities of any jurisdiction
and such other reasonably requested information as will permit the Borrower or the Administrative Agent, as the case may be, to
determine (A) whether or not payments made hereunder or under any other Loan Document are subject to Taxes, (B) if applicable,
the required rate of withholding or deduction, and (C) such Lender’s entitlement to any available exemption from, or
reduction of, applicable Taxes in respect of all payments to be made to such Lender by the Borrower pursuant to this Agreement
or otherwise to establish such Lender’s status for withholding tax purposes in the applicable jurisdiction.

 

(ii)           
Without limiting the generality of the foregoing, if the Borrower is resident for tax purposes in the United States,

 

(A)            
any Lender that is a “United States person” within the meaning of Section 7701(a)(30) of the Code
shall deliver to the Borrower and the Administrative Agent executed originals of Internal Revenue Service Form W-9 or such
other documentation or information prescribed by applicable Laws or reasonably requested by the Borrower or the Administrative
Agent as will enable the Borrower or the Administrative Agent, as the case may be, to determine whether or not such Lender is subject
to backup withholding or information reporting requirements; and

 

(B)             
each Foreign Lender that is entitled under the Code or any applicable treaty to an exemption from or reduction of
withholding tax with respect to payments hereunder or under any other Loan Document shall deliver to the Borrower and the Administrative
Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes
a Lender under this Agreement (and from time to time thereafter upon the request of the Borrower or the Administrative Agent, but
only if such Foreign Lender is legally entitled to do so), whichever of the following is applicable:

 

    59

     

    

 

(I)           
executed originals of Internal Revenue Service Form W-8BEN or
Form W-8BEN-E claiming eligibility for benefits of an income tax treaty to which the United States is a party,

 

(II)          
executed originals of Internal Revenue Service Form W-8ECI,

 

(III)         
executed originals of Internal Revenue Service Form W-8IMY and all required supporting documentation,

 

(IV)         
in the case of a Foreign Lender claiming the benefits of the exemption for portfolio interest under section 881(c)
of the Code, (x) a certificate to the effect that such Foreign Lender is not (A) a “bank” within the meaning
of section 881(c)(3)(A) of the Code, (B) a “10 percent shareholder” of the Borrower within the meaning of section
881(c)(3)(B) of the Code, or (C) a “controlled foreign corporation” described in section 881(c)(3)(C) of the Code
and (y) executed originals of Internal Revenue Service Form W-8BEN or
Form W-8BEN-E, or

 

(V)           
executed originals of any other form prescribed by applicable Laws as a basis for claiming exemption from or a reduction
in United States Federal withholding tax together with such supplementary documentation as may be prescribed by applicable Laws
to permit the Borrower or the Administrative Agent to determine the withholding or deduction required to be made.

 

(iii)           
Each Lender shall promptly (A) notify the Borrower and the Administrative Agent of any change in circumstances
which would modify or render invalid any claimed exemption or reduction, and (B) take such steps as shall not be materially
disadvantageous to it, in the reasonable judgment of such Lender, and as may be reasonably necessary (including the re-designation
of its Lending Office) to avoid any requirement of applicable Laws of any jurisdiction that the Borrower or the Administrative
Agent make any withholding or deduction for taxes from amounts payable to such Lender.

 

    60

     

    

 

 

(f)             
Treatment of Certain Refunds. Unless required by applicable Laws, at no time shall the Administrative Agent
have any obligation to file for or otherwise pursue on behalf of a Lender or the L/C Issuer, or have any obligation to pay to any
Lender or the L/C Issuer, any refund of Taxes withheld or deducted from funds paid for the account of such Lender or the L/C Issuer,
as the case may be. If the Administrative Agent, any Lender or the L/C Issuer determines, in its sole discretion, that it has received
a refund of any Taxes or Other Taxes as to which it has been indemnified by the Borrower or with respect to which the Borrower
has paid additional amounts pursuant to this Section, it shall pay to the Borrower an amount equal to such refund (but only to
the extent of indemnity payments made, or additional amounts paid, by the Borrower under this Section with respect to the Taxes
or Other Taxes giving rise to such refund), net of all out-of-pocket expenses incurred by the Administrative Agent, such Lender
or the L/C Issuer, as the case may be, and without interest (other than any interest paid by the relevant Governmental Authority
with respect to such refund), provided that the Borrower, upon the request of the Administrative Agent, such Lender or the
L/C Issuer, agrees to repay the amount paid over to the Borrower (plus any penalties, interest or other charges imposed by the
relevant Governmental Authority) to the Administrative Agent, such Lender or the L/C Issuer in the event the Administrative Agent,
such Lender or the L/C Issuer is required to repay such refund to such Governmental Authority. This subsection shall not be construed
to require the Administrative Agent, any Lender or the L/C Issuer to make available its tax returns (or any other information relating
to its taxes that it deems confidential) to the Borrower or any other Person.

 

(g)            
For purposes of determining withholding Taxes imposed under FATCA, from and after March 24, 2015, the Borrower and
the Administrative Agent shall treat (and the Lenders hereby authorize the Administrative Agent to treat) the Credit Agreement
as not qualifying as a “grandfathered obligation” within the meaning of Treasury Regulation Section 1.1471-2(b)(2)(l).

 

3.02         
Illegality. If any Lender determines that any Law has made it unlawful, or that any Governmental Authority
has asserted that it is unlawful, for any Lender or its applicable Lending Office to make, maintain or fund Loans whose interest
is determined by reference to the Eurodollar Rate, or to determine or charge interest rates based upon the Eurodollar Rate, or
any Governmental Authority has imposed material restrictions on the authority of such Lender to purchase or sell, or to take deposits
of, Dollars in the London interbank market, then, on notice thereof by such Lender to the Borrower through the Administrative Agent,
(i) any obligation of such Lender to make or continue Eurodollar Rate Loans or to convert Base Rate Committed Loans to Eurodollar
Rate Committed Loans shall be suspended, and (ii) if such notice asserts the illegality of such Lender making or maintaining
Base Rate Loans the interest rate on which is determined by reference to the Eurodollar Rate component of the Base Rate, the interest
rate on which Base Rate Loans of such Lender shall, if necessary to avoid such illegality, be determined by the Administrative
Agent without reference to the Eurodollar Rate component of the Base Rate, in each case until such Lender notifies the Administrative
Agent and the Borrower that the circumstances giving rise to such determination no longer exist. Upon receipt of such notice, (x) the
Borrower shall, upon demand from such Lender (with a copy to the Administrative Agent), prepay or, if applicable, convert all Eurodollar
Rate Loans of such Lender to Base Rate Loans (the interest rate on which Base Rate Loans of such Lender shall, if necessary to
avoid such illegality, be determined by the Administrative Agent without reference to the Eurodollar Rate component of the Base
Rate), either on the last day of the Interest Period therefor, if such Lender may lawfully continue to maintain such Eurodollar
Rate Loans to such day, or immediately, if such Lender may not lawfully continue to maintain such Eurodollar Rate Loans and (y) if
such notice asserts the illegality of such Lender determining or charging interest rates based upon the Eurodollar Rate, the Administrative
Agent shall during the period of such suspension compute the Base Rate applicable to such Lender without reference to the Eurodollar
Rate component thereof until the Administrative Agent is advised in writing by such Lender
that it is no longer illegal for such Lender to determine or charge interest rates based upon the Eurodollar Rate. Upon any such
prepayment or conversion, the Borrower shall also pay accrued interest on the amount so prepaid or converted.

 

 

    61

     

     

3.03         
Inability to Determine Rates.

 

(a)            
If the Required Lenders determine that for any reason in connection with
any request for a Eurodollar Rate Loan or a conversion to or continuation thereof, (i) the Administrative
Agent determines that (a) Dollar deposits are not being offered to banks in the London interbank eurodollar market
for the applicable amount and Interest Period of such Eurodollar Rate Loan, (b) (x) adequate
and reasonable means do not exist for determining the Eurodollar Rate for any requested Interest Period with respect to a proposed
Eurodollar Rate Committed Loan or in connection with an existing or proposed Base Rate Loan, or
(c) and (y) the circumstances described in Section 3.03(c)(i) do not apply (in each
case with respect to this clause (i), “Impacted Loans”), or (ii) the Required Lenders determine for any reason
the Eurodollar Rate for any requested Interest Period with respect to a proposed Eurodollar Rate Committed Loan does not adequately
and fairly reflect the cost to such Lenders of funding such Loan, the Administrative Agent will promptly so notify the Borrower
and each Lender. Thereafter, (x) the obligation of the Lenders to make or maintain Eurodollar Rate Loans shall be suspended,
and (y) in the event of a determination described in the preceding sentence with respect to the Eurodollar Rate component
of the Base Rate, the utilization of the Eurodollar Rate component in determining the Base Rate shall be suspended, in each case
until the Administrative Agent (or, in the case of a determination by the Required Lenders described
in clause (ii) of Section 3.03(a), until the Administrative Agent upon the instruction of the Required Lenders) revokes
such notice. Upon receipt of such notice, the Borrower may revoke any pending request for a Borrowing of, conversion to or continuation
of Eurodollar Rate Committed Loans or, failing that, will be deemed to have converted such request into a request for a Committed
Borrowing of Base Rate Loans in the amount specified therein.

 

(b)           
Notwithstanding the foregoing, if the Administrative Agent has made the determination described in clause (i) of Section
3.03(a), the Administrative Agent, in consultation in good faith with the Borrower, may establish an alternative interest rate
for the Impacted Loans, in which case, such alternative rate of interest shall apply with respect to the Impacted Loans until (i)
the Administrative Agent revokes the notice delivered with respect to the Impacted Loans under clause (i) of the first sentence
of Section 3.03(a), (ii) the Required Lenders notify the Administrative Agent and the Borrower that such alternative interest rate
does not adequately and fairly reflect the cost to such Lenders of funding the Impacted Loans, or (iii) any Lender determines that
any Law has made it unlawful, or that any Governmental Authority has asserted that it is unlawful, for such Lender or its applicable
Lending Office to make, maintain or fund Loans whose interest is determined by reference to such alternative rate of interest or
to determine or charge interest rates based upon such rate or any Governmental Authority has imposed material restrictions on the
authority of such Lender to do any of the foregoing and provides the Administrative Agent and the Borrower written notice thereof.

 

(c)            
Notwithstanding anything to the contrary in this Agreement or any other Loan Documents, if the Administrative Agent determines
(which determination shall be conclusive absent manifest error), or the Borrower or Required Lenders notify the Administrative
Agent (with, in the case of the Required Lenders, a copy to Borrower) that the Borrower or Required Lenders (as applicable) have
determined, that:

 

 

    62

     

     

(i)             
adequate and reasonable means do not exist for ascertaining LIBOR for any requested Interest Period, including, without
limitation, because the LIBOR Screen Rate is not available or published on a current basis and such circumstances are unlikely
to be temporary; or 

 

(ii)            
the administrator of the LIBOR Screen Rate or a Governmental Authority having jurisdiction over the Administrative Agent
has made a public statement identifying a specific date after which LIBOR or the LIBOR Screen Rate shall no longer be made available,
or used for determining the interest rate of loans (such specific date, the “Scheduled Unavailability Date”), or

 

(iii)           
syndicated loans currently being executed, or that include language similar to that contained in this Section 3.03, are
being executed or amended (as applicable) to incorporate or adopt a new benchmark interest rate to replace LIBOR,

 

then, reasonably promptly
after such determination by the Administrative Agent or receipt by the Administrative Agent of such notice, as applicable, the
Administrative Agent and the Borrower may amend this Agreement to replace LIBOR with an alternate benchmark rate (including any
mathematical or other adjustments to the benchmark (if any) incorporated therein), giving due consideration to any evolving or
then existing convention for similar U.S. dollar denominated syndicated credit facilities for such alternative benchmarks (any
such proposed rate, a “LIBOR Successor Rate”), together with any proposed LIBOR Successor Rate Conforming Changes (as
defined below) and any such amendment shall become effective at 5:00 p.m. on the fifth Business Day after the Administrative
Agent shall have posted such proposed amendment to all Lenders and the Borrower unless, prior to such time, Lenders comprising
the Required Lenders have delivered to the Administrative Agent written notice that such Required Lenders do not accept such amendment.
Such LIBOR Successor Rate shall be applied in a manner consistent with market practice; provided that to the extent such
market practice is not administratively feasible for the Administrative Agent, such LIBOR Successor Rate shall be applied in a
manner as otherwise reasonably determined by the Administrative Agent.

 

If
no LIBOR Successor Rate has been determined and the circumstances under clause (i) above exist or the Scheduled Unavailability
Date has occurred (as applicable), the Administrative Agent will promptly so notify the Borrower and each Lender.  Thereafter,
(x) the obligation of the Lenders to make or maintain Eurodollar Rate Loans shall be suspended, (to the extent of the affected
Eurodollar Rate Loans or Interest Periods), and (y) the Eurodollar Rate component shall no longer be utilized in determining
the Base Rate.  Upon receipt of such notice, the Borrower may revoke any pending request for a Borrowing of, conversion to
or continuation of Eurodollar Rate Loans (to the extent of the affected Eurodollar Rate Loans or Interest Periods) or, failing
that, will be deemed to have converted such request into a request for a Committed Borrowing of Base Rate Loans (subject to the
foregoing clause (y)) in the amount specified therein.

 

 

    63

     

     

Notwithstanding
anything else herein, any definition of LIBOR Successor Rate shall provide that in no event shall such LIBOR Successor Rate be
less than zero for purposes of this Agreement.

 

For
purposes hereof, “LIBOR Successor Rate Conforming Changes” means, with respect
to any proposed LIBOR Successor Rate, any conforming changes to the definition of Base Rate, Interest
Period, timing and frequency of determining rates and making payments of interest and other administrative matters as may be appropriate,
in the discretion of the Administrative Agent in consultation in good faith with the Borrower, to reflect the adoption of such
LIBOR Successor Rate and to permit the administration thereof by the Administrative Agent in a manner substantially consistent
with market practice (or, if the Administrative Agent determines that adoption of any portion of such market practice is not administratively
feasible or that no market practice for the administration of such LIBOR Successor Rate exists, in such other manner of administration
as the Administrative Agent determines is reasonably necessary in connection with the administration of this Agreement).

 

3.04        
Increased Costs; Reserves on Eurodollar Rate Loans.

 

(a)           
Increased Costs Generally. If any Change in Law shall:

 

(i)            
impose, modify or deem applicable any reserve, special deposit, compulsory loan, insurance charge or similar requirement
against assets of, deposits with or for the account of, or credit extended or participated in by, any Lender (except any reserve
requirement contemplated by Section 3.04(e)) or the L/C Issuer;

 

(ii)           
subject any Lender or the L/C Issuer to any tax of any kind whatsoever with respect to this Agreement, any Letter
of Credit, any participation in a Letter of Credit or any Eurodollar Rate Loan made by it, or change the basis of taxation of payments
to such Lender or the L/C Issuer in respect thereof (except for Indemnified Taxes or Other Taxes covered by Section 3.01
and the imposition of, or any change in the rate of, any Excluded Tax payable by such Lender or the L/C Issuer); or

 

(iii)          
impose on any Lender or the L/C Issuer or the London interbank market any other condition, cost or expense affecting
this Agreement or Eurodollar Rate Loans made by such Lender or any Letter of Credit or participation therein;

 

and the result of any of the foregoing
shall be to increase the cost to such Lender of making or maintaining any Loan the interest on which is determined by reference
to the Eurodollar Rate (or of maintaining its obligation to make any such Loan), or to increase the cost to such Lender or the
L/C Issuer of participating in, issuing or maintaining any Letter of Credit (or of maintaining its obligation to participate in
or to issue any Letter of Credit), or to reduce the amount of any sum received or receivable by such Lender or the L/C Issuer hereunder
(whether of principal, interest or any other amount) then, upon request of such Lender or the L/C Issuer, the Borrower will pay
to such Lender or the L/C Issuer, as the case may be, such additional amount or amounts as will compensate such Lender or the L/C
Issuer, as the case may be, for such additional costs incurred or reduction suffered.

 

 

    64

     

     

(b)            
Capital Requirements. If any Lender or the L/C Issuer determines that any Change in Law affecting such Lender
or the L/C Issuer or any Lending Office of such Lender or such Lender’s or the L/C Issuer’s holding company, if any,
regarding capital or liquidity requirements has or would have the effect of reducing the rate of return on such Lender’s
or the L/C Issuer’s capital or on the capital of such Lender’s or the L/C Issuer’s holding company, if any, as
a consequence of this Agreement, the Commitments of such Lender or the Loans made by, or participations in Letters of Credit held
by, such Lender, or the Letters of Credit issued by the L/C Issuer, to a level below that which such Lender or the L/C Issuer or
such Lender’s or the L/C Issuer’s holding company could have achieved but for such Change in Law (taking into consideration
such Lender’s or the L/C Issuer’s policies and the policies of such Lender’s or the L/C Issuer’s holding
company with respect to capital adequacy or liquidity), then from time to time the Borrower will pay to such Lender or the L/C
Issuer, as the case may be, such additional amount or amounts as will compensate such Lender or the L/C Issuer or such Lender’s
or the L/C Issuer’s holding company for any such reduction suffered.

 

(c)            
Certificates for Reimbursement. A certificate of a Lender or the L/C Issuer setting forth the amount or amounts
necessary to compensate such Lender or the L/C Issuer or its holding company, as the case may be, as specified in subsection (a)
or (b) of this Section and delivered to the Borrower shall be conclusive absent manifest error. The Borrower shall pay such
Lender or the L/C Issuer, as the case may be, the amount shown as due on any such certificate within 10 days after receipt
thereof.

 

(d)            
Delay in Requests. Failure or delay on the part of any Lender or the L/C Issuer to demand compensation pursuant
to the foregoing provisions of this Section shall not constitute a waiver of such Lender’s or the L/C Issuer’s right
to demand such compensation, provided that the Borrower shall not be required to compensate a Lender or the L/C Issuer pursuant
to the foregoing provisions of this Section for any increased costs incurred or reductions suffered more than nine months prior
to the date that such Lender or the L/C Issuer, as the case may be, notifies the Borrower of the Change in Law giving rise to such
increased costs or reductions and of such Lender’s or the L/C Issuer’s intention to claim compensation therefor (except
that, if the Change in Law giving rise to such increased costs or reductions is retroactive, then the nine-month period referred
to above shall be extended to include the period of retroactive effect thereof).

 

(e)            
Reserves on Eurodollar Rate Loans. The Borrower shall pay to each Lender, as long as such Lender shall be
required to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits (currently
known as “Eurocurrency liabilities”), additional interest on the unpaid principal amount of each Eurodollar Rate Loan
equal to the actual costs of such reserves allocated to such Loan by such Lender (as determined by such Lender in good faith, which
determination shall be conclusive), which shall be due and payable on each date on which interest is payable on such Loan, provided
the Borrower shall have received at least 10 days’ prior notice (with a copy to the Administrative Agent) of such additional
interest from such Lender. If a Lender fails to give notice 10 days prior to the relevant Interest Payment Date, such additional
interest shall be due and payable 10 days from receipt of such notice.

 

 

    65

     

     

3.05         
Compensation for Losses. Upon demand of any Lender (with a copy to the Administrative Agent) from time
to time, the Borrower shall promptly compensate such Lender for and hold such Lender harmless from any loss, cost or expense incurred
by it as a result of:

 

(a)            
any continuation, conversion, payment or prepayment of any Loan other than a Base Rate Loan on a day other than the
last day of the Interest Period for such Loan (whether voluntary, mandatory, automatic, by reason of acceleration, or otherwise);

 

(b)            
any failure by the Borrower (for a reason other than the failure of such Lender to make a Loan) to prepay, borrow,
continue or convert any Loan other than a Base Rate Loan on the date or in the amount notified by the Borrower; or

 

(c)            
any assignment of a Eurodollar Rate Loan on a day other than the last day of the Interest Period therefor as a result
of a request by the Borrower pursuant to Section 10.13;

 

including any loss of anticipated profits
and any loss or expense arising from the liquidation or reemployment of funds obtained by it to maintain such Loan or from fees
payable to terminate the deposits from which such funds were obtained. The Borrower shall also pay any customary administrative
fees charged by such Lender in connection with the foregoing.

 

For purposes of calculating
amounts payable by the Borrower to the Lenders under this Section 3.05, each Lender shall be deemed to have funded
each Eurodollar Rate Committed Loan made by it at the Eurodollar Rate for such Loan by a matching deposit or other borrowing in
the London interbank eurodollar market for a comparable amount and for a comparable period, whether or not such Eurodollar Rate
Committed Loan was in fact so funded.

 

3.06         
Mitigation Obligations; Replacement of Lenders.

 

(a)             
Designation of a Different Lending Office. If any Lender requests compensation under Section 3.04,
or the Borrower is required to pay any additional amount to any Lender, the L/C Issuer, or any Governmental Authority for the account
of any Lender or the L/C Issuer pursuant to Section 3.01, or if any Lender gives a notice pursuant to Section 3.02,
then such Lender or the L/C Issuer shall, as applicable, use reasonable efforts to designate a different Lending Office for funding
or booking its Loans hereunder or to assign its rights and obligations hereunder to another of its offices, branches or affiliates,
if, in the judgment of such Lender or the L/C Issuer, such designation or assignment (i) would eliminate or reduce amounts
payable pursuant to Section 3.01 or 3.04, as the case may be, in the future, or eliminate the need for the notice
pursuant to Section 3.02, as applicable, and (ii) in each case, would not subject such Lender or the L/C Issuer,
as the case may be, to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender or the L/C Issuer,
as the case may be. The Borrower hereby agrees to pay all reasonable costs and expenses incurred by any Lender or the L/C Issuer
in connection with any such designation or assignment.

 

(b)            
Replacement of Lenders. If any Lender requests compensation under Section 3.04, or if the Borrower
is required to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to
Section 3.01, the Borrower may replace such Lender in accordance with Section 10.13.

 

 

    66

     

     

3.07         
Survival. All of the Borrower’s obligations under this Article III shall survive termination
of the Aggregate Commitments, repayment of all other Obligations hereunder, and resignation of the Administrative Agent.

 

ARTICLE
IV. CONDITIONS PRECEDENT TO CREDIT EXTENSIONS

 

4.01         
Conditions of Initial Credit Extension. The obligation of the L/C Issuer and each Lender to make its initial
Credit Extension hereunder is subject to satisfaction of the following conditions precedent:

 

(a)            
The Administrative Agent’s receipt of the following, each of which shall be originals or telecopies (followed
promptly by originals) unless otherwise specified, each properly executed by a Responsible Officer of the signing Loan Party, each
dated the Closing Date (or, in the case of certificates of governmental officials, a recent date before the Closing Date) and each
in form and substance satisfactory to the Administrative Agent and each of the Lenders:

 

(i)            
executed counterparts of this Agreement and the Guaranty, sufficient in number for distribution to the Administrative
Agent, each Lender and the Borrower;

 

(ii)           
a Note executed by the Borrower in favor of each Lender requesting a Note;

 

(iii)           such
certificates of resolutions or other action, incumbency certificates and/or other certificates of Responsible Officers of each
Loan Party as the Administrative Agent may require evidencing the identity, authority and capacity of each Responsible Officer
thereof authorized to act as a Responsible Officer in connection with this Agreement and the other Loan Documents to which such
Loan Party is a party;

 

(iv)           such
documents and certifications as the Administrative Agent may reasonably require to evidence that each Loan Party is duly organized
or formed, and that each of the Borrower and Loan Parties is validly existing, in good standing and qualified to engage in business
in its state of incorporation (or formation) and in each other state requested by the Administrative Agent;

 

(v)            a
favorable opinion of Schiff Hardin LLP, counsel to the Loan Parties, addressed to the Administrative Agent and each Lender, substantially
in the form attached hereto as Exhibit H;

 

(vi)           a
certificate of a Responsible Officer of each Loan Party either (A) attaching copies of all consents, licenses and approvals
required in connection with the execution, delivery and performance by such Loan Party and the validity against such Loan Party
of the Loan Documents to which it is a party, and such consents, licenses and approvals shall be in full force and effect, or (B) stating
that no such consents, licenses or approvals are so required;

 

(vii)         
a certificate signed by a Responsible Officer of the Borrower certifying (A) that the conditions specified in
Sections 4.02(a) and (b) have been satisfied, and (B) that there has been no event or circumstance since
the date of the Audited Financial Statements that has had or could be reasonably expected to have, either individually or in the
aggregate, a Material Adverse Effect;

 

 

    67

     

     

(viii)         
evidence that all insurance required to be maintained pursuant to the Loan Documents has been obtained and is in
effect;

 

(ix)          
evidence that the Existing Credit Agreement has been or concurrently with the Closing Date is being terminated and
all Liens securing obligations under the Existing Credit Agreement have been or concurrently with the Closing Date are being released;
and

 

(x)           
such other assurances, certificates, documents, consents or opinions as the Administrative Agent, the L/C Issuer,
the Swing Line Lender or the Required Lenders reasonably may require.

 

(b)            
Any fees required to be paid on or before the Closing Date shall have been paid.

 

(c)           
Unless waived by the Administrative Agent, the Borrower shall have paid all fees, charges and disbursements of counsel
to the Administrative Agent (directly to such counsel if requested by the Administrative Agent) to the extent invoiced prior to
or on the Closing Date, plus such additional amounts of such fees, charges and disbursements as shall constitute its reasonable
estimate of such fees, charges and disbursements incurred or to be incurred by it through the closing proceedings (provided
that such estimate shall not thereafter preclude a final settling of accounts between the Borrower and the Administrative Agent).

 

(d)            
The Closing Date shall have occurred on or before April 12, 2011.

 

Without limiting the
generality of the provisions of the last paragraph of Section 9.03, for purposes of determining compliance with the
conditions specified in this Section 4.01, each Lender that has signed this Agreement shall be deemed to have consented
to, approved or accepted or to be satisfied with, each document or other matter required thereunder to be consented to or approved
by or acceptable or satisfactory to a Lender unless the Administrative Agent shall have received notice from such Lender prior
to the proposed Closing Date specifying its objection thereto.

 

4.02         
Conditions to all Credit Extensions. The obligation of each Lender to honor any Request for Credit Extension
(other than a Committed Loan Notice requesting only a conversion of Committed Loans to the other Type, or a continuation of Eurodollar
Rate Committed Loans) is subject to the following conditions precedent:

 

(a)             
The representations and warranties of the Borrower and each other Loan Party contained in Article V (other
than those contained in Section 5.04(b) and Section 5.05) or any other Loan Document, or which are contained in any
document furnished at any time under or in connection herewith or therewith, shall be true and correct on and as of the date of
such Credit Extension, except to the extent that such representations and warranties specifically refer to an earlier date, in
which case they shall be true and correct as of such earlier date, and except that for purposes of this Section 4.02,
the representations and warranties contained in subsection (a) of Section 5.04 shall be deemed to refer to the most
recent statements furnished pursuant to clauses (a) and (b), respectively, of Section 6.01.

 

 

    68

     

     

(b)              
No Default shall exist, or would result from such proposed Credit Extension or from the application of the proceeds
thereof.

 

(c)              
The Administrative Agent and, if applicable, the L/C Issuer or the Swing Line Lender shall have received a Request
for Credit Extension in accordance with the requirements hereof.

 

Each Request for Credit
Extension (other than a Committed Loan Notice requesting only a conversion of Committed Loans to the other Type or a continuation
of Eurodollar Rate Committed Loans) submitted by the Borrower shall be deemed to be a representation and warranty that the conditions
specified in Sections 4.02(a) and (b) have been satisfied on and as of the date of the applicable Credit
Extension.

 

ARTICLE
V. REPRESENTATIONS AND WARRANTIES

 

The Borrower represents
and warrants to the Administrative Agent and the Lenders that:

 

5.01         
Organization. Each of the Borrower and each Restricted Subsidiary is validly existing and in good standing
under the laws of its jurisdiction of organization; and each of the Borrower and each Restricted Subsidiary is duly qualified to
do business in each jurisdiction where, because of the nature of its activities or properties, such qualification is required,
except for such jurisdictions where the failure to so qualify could not reasonably be expected to have a Material Adverse Effect.

 

5.02         
Authorization; No Conflict. The Borrower and each Restricted Subsidiary is duly authorized to execute
and deliver each Loan Document to which such Person is a party and perform its Obligations under each Loan Document to which it
is a party. The Borrower is duly authorized to borrow monies hereunder. The execution, delivery and performance by the Borrower
and each Restricted Subsidiary of each Loan Document to which such Person is a party, and the borrowings by the Borrower hereunder,
do not and will not (a) require any consent or approval of any governmental agency or authority (other than any consent or approval
which has been obtained and is in full force and effect) or which the failure to so obtain could not reasonably be expected to
have a Material Adverse Effect, (b) conflict with (i) any provision of law, (ii) the Organization Documents or material agreements
disclosed in the Borrower’s most recent filing with the SEC on Form 10-K or (iii) any material agreement, indenture, instrument
or other document, or any judgment, order or decree, which is binding upon the Borrower or any Restricted Subsidiary or any of
their respective properties or (c) require, or result in, the creation or imposition of any Lien on any asset of the Borrower or
any Restricted Subsidiary (other than Liens, if any, in favor of the Administrative Agent created pursuant to the Loan Documents).

 

5.03         
Validity and Binding Nature. This Agreement has been, and each other Loan Document, when delivered hereunder,
will have been, duly executed and delivered by each Loan Party that is party thereto and is, or when so delivered will be, the
legal, valid and binding obligation of such Person, enforceable against such Person in accordance with its terms, subject to bankruptcy,
insolvency and similar laws affecting the enforceability of creditors’ rights generally and to general principles of equity.

 

 

    69

     

     

5.04         
Financial Condition; No Material Adverse Effect.

 

(a)             
The Audited Financial Statements, copies of which have been delivered to each Lender, were prepared in accordance
with GAAP (subject, in the case of such unaudited statements, to the absence of footnotes and to normal year-end adjustments) and
present fairly the consolidated financial condition of the Borrower and its Subsidiaries as at such dates and the results of their
operations for the periods then ended.

 

(b)            
Since the date of the Audited Financial Statements, there has been no change in the financial condition, operations,
assets, business or properties of the Borrower and the Restricted Subsidiaries, taken as a whole that has had or could reasonably
be expected to have a Material Adverse Effect.

 

5.05         
Litigation and Contingent Liabilities. Except as set forth on Schedule 5.05, no litigation (including
derivative actions), arbitration proceeding or governmental investigation or proceeding is pending or, to the Borrower’s
knowledge, threatened against the Borrower or any Restricted Subsidiary which could reasonably be expected to have a Material Adverse
Effect. Other than any liability incident to such litigation or proceedings, neither the Borrower nor any Restricted Subsidiary
has any material contingent liabilities not listed on Schedule 5.05 or permitted by Section 7.01.

 

5.06         
Ownership of Properties; Liens. Each of the Borrower and each of its Restricted Subsidiaries owns good
and, in the case of real property, sufficient title to all of its properties and assets, real and personal, tangible and intangible,
of any nature whatsoever (including patents, trademarks, trade names, service marks and copyrights) that individually or in the
aggregate are Material, free and clear of all Liens, charges and claims (including infringement claims with respect to patents,
trademarks, service marks, copyrights and the like) except as permitted by Section 7.02.

 

5.07         
Equity Ownership; Subsidiaries. All issued and outstanding Equity Interests of the Borrower and each Restricted
Subsidiary are duly authorized and validly issued, fully paid, non-assessable, and free and clear of all Liens other than those
in favor of the Administrative Agent (if any), and such securities were issued in compliance with all applicable state and federal
laws concerning the issuance of securities. Schedule 5.07 sets forth the authorized Equity Interests of each Restricted
Subsidiary and each Unrestricted Subsidiary as of the Closing Date and identifies each owner of such Equity Interests and their
percentage of the total Equity Interests which each owner owns. Each Restricted Subsidiary is a Wholly-Owned Subsidiary except
as set forth on Schedule 5.07. As of the Closing Date, except as set forth on Schedule 5.07, there are no pre-emptive
or other outstanding rights, options, warrants, conversion rights or other similar agreements or understandings for the purchase
or acquisition of any Equity Interests of the Borrower or any Restricted Subsidiary. The Borrower shall update Schedule 5.07
promptly after (a) the creation or acquisition by the Borrower or a Subsidiary thereof of a new Subsidiary, (b) any change in the
ownership structure of any Wholly-Owned Restricted Subsidiary that results in such Restricted Subsidiary no longer being a Wholly-Owned
Subsidiary or (c) any change in a Subsidiary’s designation as an Unrestricted Subsidiary or a Restricted Subsidiary; provided,
such update in and of itself shall not cause such action to be permitted hereunder if such action is otherwise prohibited hereunder.

 

 

    70

     

     

5.08         
Pension Plans.

 

(a)            
Each Pension Plan complies in all material respects with all applicable requirements of law and regulations. No contribution
failure under Section 412 of the Code, Section 302 of ERISA or the terms of any Pension Plan has occurred with respect to any Pension
Plan, sufficient to give rise to a Lien under Section 302(f) of ERISA, or otherwise to have a Material Adverse Effect. There are
no pending or, to the knowledge of the Borrower, threatened, claims, actions, investigations or lawsuits against any Pension Plan,
any fiduciary of any Pension Plan, the Borrower or any ERISA Affiliate with respect to a Pension Plan or
a Multiemployer Plan which could reasonably be expected to have a Material Adverse Effect. Neither the Borrower
nor any ERISA Affiliate has engaged in any prohibited transaction (as defined in Section 4975 of the Code or Section 406 of ERISA)
in connection with any Pension Plan or Multiemployer Plan which would subject
that Person to any material liability. Within the past five years, neither the Borrower nor any ERISA Affiliate has engaged in
a transaction which resulted in a Pension Plan with an Unfunded Liability being transferred out of the group of ERISA Affiliates,
which could reasonably be expected to have a Material Adverse Effect. No ERISA Event has occurred or is reasonably expected to
occur with respect to any Pension Plan, which could reasonably be expected to have a Material Adverse Effect.

 

(b)            
All contributions (if any) have been made to any Multiemployer Plan that are required to be made by the Borrower
or any ERISA Affiliate under the terms of the plan or of any collective bargaining agreement or by applicable law; neither the
Borrower nor any ERISA Affiliate has withdrawn or partially withdrawn from any Multiemployer Plan, incurred any withdrawal liability
with respect to any such plan or received notice of any claim or demand for withdrawal liability or partial withdrawal liability
from any such plan, and no condition has occurred which, if continued, could result in a withdrawal or partial withdrawal from
any such plan; and neither the Borrower nor any ERISA Affiliate has received any notice that any Multiemployer Plan is in reorganizationendangered
or critical status within the meaning of Section 432 of the Code or Section 305 of ERISA, that increased contributions
may be required to avoid a reduction in plan benefits or the imposition of any excise tax, that any such plan is or has been funded
at a rate less than that required under Section 412 of the Code, that any such plan is or may be terminated, or that any such plan
is or may become insolvent.

 

5.09         
Investment Company Act. Neither the Borrower nor any Restricted Subsidiary is an “investment company”
or a company “controlled” by an “investment company” or a “subsidiary” of an “investment
company,” within the meaning of the Investment Company Act of 1940.

 

5.10         
Regulation U. The Borrower is not engaged principally, or as one of its important activities, in the business
of extending credit for the purpose of purchasing or carrying “margin stock” as defined in Regulation U of the FRB.

 

 

    71

     

     

5.11         
Taxes. Each of the Borrower and each Restricted Subsidiary has timely filed all tax returns and reports
required by law to have been filed by it and has paid all taxes and governmental charges due and payable with respect to such return,
except any such taxes or charges (a) which are being diligently contested in good faith by appropriate proceedings and for which
adequate reserves in accordance with GAAP shall have been set aside on its books or (b) the filing or amount of which is not individually
or in the aggregate Material. The Borrower and the Restricted Subsidiaries have made adequate reserves on their books and records
in accordance with GAAP for all taxes that have accrued but which are not yet due and payable. Neither the Borrower nor any Restricted
Subsidiary has participated in any transaction that relates to a year of the taxpayer (which is still open under the applicable
statute of limitations) which is a “reportable transaction” within the meaning of Treasury Regulation Section 1.6011-4(b)(2)
(irrespective of the date when the transaction was entered into).

 

5.12         
Solvency; Etc.. On the Closing Date, and immediately prior to and after giving effect to the issuance
of each Letter of Credit and each borrowing hereunder and the use of the proceeds thereof, with respect to the Borrower and the
Restricted Subsidiaries, taken as a whole, (a) the fair value of their assets is greater than the amount of their liabilities as
such value and liabilities are established in accordance with GAAP, and (b) the present fair saleable value of their assets is
not less than the amount that will be required to pay the probable liability on their debts as they become absolute and matured.

 

5.13         
Environmental Matters. As of the Closing Date, except as disclosed in the most recent SEC Filings, neither
the Borrower nor any Restricted Subsidiary has knowledge of any liability or has received any notice of any liability, and no proceeding
has been instituted raising any liability against the Borrower or any of its Restricted Subsidiaries or any of their respective
real properties now or formerly owned, leased or operated by any of them or other assets, alleging any damage to the environment
or violation of any Environmental Laws, except, in each case, such as could not reasonably be expected to result in a Material
Adverse Effect individually or in the aggregate. As of the Closing Date, except as disclosed in the most recent SEC Filings, and
except as otherwise disclosed in writing:

 

(a)              
neither the Borrower nor any Restricted Subsidiary has knowledge of any facts which would give rise to any liability,
public or private, for violation of Environmental Laws or damage to the environment emanating from, occurring on or in any way
related to real properties now or formerly owned, leased or operated by any of them or to other assets or their use, except, in
each case, such as could not reasonably be expected to result in a Material Adverse Effect;

 

(b)              
neither the Borrower nor any of its Restricted Subsidiaries has stored any Hazardous Materials on real properties
now or formerly owned, leased or operated by any of them or has disposed of any Hazardous Materials in a manner contrary to any
Environmental Laws in each case in any manner that could reasonably be expected to result in a Material Adverse Effect; and

 

(c)              
all buildings on all real properties now owned, leased or operated by the Borrower or any of its Restricted Subsidiaries
are in compliance with applicable Environmental Laws, except where failure to comply could not reasonably be expected to result
in a Material Adverse Effect.

 

 

    72

     

     

5.14         
Insurance. The Borrower and each Restricted Subsidiary and their respective properties are insured with
financially sound and reputable insurance companies which are not Affiliates of the Borrower and the Restricted Subsidiaries, in
such amounts, with such deductibles and covering such risks as are customarily carried by companies engaged in similar businesses
and owning similar properties in localities where the Borrower and the Restricted Subsidiaries operate.

 

5.15         
Information. All information heretofore or contemporaneously herewith furnished in writing by the Borrower
to the Administrative Agent or any Lender for purposes of or in connection with this Agreement and the transactions contemplated
hereby is, and all written information hereafter furnished by or on behalf of the Borrower to the Administrative Agent or any Lender
pursuant hereto or in connection herewith will be, true and accurate in every material respect on the date as of which such information
is dated or certified, and none of such information is or will be incomplete by omitting to state any material fact necessary to
make such information not misleading in light of the circumstances under which made (it being recognized by the Administrative
Agent and the Lenders that any projections and forecasts provided by the Borrower are based on good faith estimates and assumptions
believed by the Borrower to be reasonable as of the date of the applicable projections or assumptions and that actual results during
the period or periods covered by any such projections and forecasts may differ from projected or forecasted results).

 

5.16         
Intellectual Property. Each of the Borrower and each Restricted Subsidiary owns and possesses or has a
license or other right to use all patents, patent rights, trademarks, trademark rights, trade names, trade name rights, service
marks, service mark rights, and copyrights as are necessary for the conduct of the businesses of the Borrower or such Restricted
Subsidiary, as applicable, except to the extent the lack of such rights could not reasonably be expected to have a Material Adverse
Effect, without any infringement upon rights of others which could reasonably be expected to have a Material Adverse Effect.

 

5.17         
No Default. No Event of Default or Default exists or would result from the incurrence by the Borrower
or any Restricted Subsidiary of any Debt hereunder or under any other Loan Document.

 

5.18         
Taxpayer Identification Number. The Borrower’s true and correct U.S. taxpayer identification
number is set forth on Schedule 10.02.

 

5.19         
Anti-Corruption Laws; Sanctions; Anti-Terrorism Laws.

 

(a)              
The Borrower, its Subsidiaries and their respective officers and employees, and to the knowledge of the Borrower
its directors and agents, are in compliance with Anti-Corruption Laws and applicable Sanctions in all material respects,
and each of the Borrower and its Subsidiaries has in
effect policies and procedures designed to promote and achieve compliance with Anti-Corruption Laws and applicable Sanctions.
None of the Borrower, any Subsidiary or to the knowledge of the Borrower or such Subsidiary any of their respective directors,
officers or, employees or
agents is a Sanctioned Person. No Loan or Letter of Credit, use of the proceeds of any Loan or Letter of Credit or other
transactions contemplated hereby will violate Anti-Corruption Laws or applicable Sanctions.

 

 

    73

     

     

(b)              
Neither the making of the Loans hereunder nor the use of the proceeds thereof will violate the PATRIOT Act, the Trading
with the Enemy Act, as amended, or any of the foreign assets control regulations of the United States Treasury Department (31 C.F.R.,
Subtitle B, Chapter V, as amended) or any enabling legislation or executive order relating thereto or successor statute
thereto. The Borrower and its Subsidiaries are in compliance in all material respects with the PATRIOT Act.

 

5.20         
EEA Financial Institutions. No Loan Party is an
EEA Financial Institution.

 

ARTICLE
VI. AFFIRMATIVE COVENANTS

 

Until the expiration
or termination of the Commitments and thereafter until all Obligations hereunder and under the other Loan Documents are paid in
full (other than contingent or indemnification obligations which survive the termination of this Agreement) and all Letters of
Credit have been terminated, the Borrower agrees that, unless at any time the Required Lenders shall otherwise expressly consent
in writing, it will:

 

6.01         
Reports, Certificates and Other Information. Furnish to the Administrative Agent and each Lender:

 

(a)            
Annual Report. (i) Promptly when available and in any event within 90 days after the close of each Fiscal
Year, a copy of the annual audit report of the Borrower and its Subsidiaries for such Fiscal Year, including therein consolidated
balance sheets and statements of earnings and cash flows of the Borrower and its Subsidiaries as at the end of such Fiscal Year,
together with a Report of Independent Registered Public Accounting Firm thereon without adverse reference to going concern value
and without qualification by KPMG LLP or such other independent auditors of recognized standing selected by the Borrower and reasonably
acceptable to the Administrative Agent; provided that the availability on EDGAR or the internet within the time period specified
above of the Borrower’s Annual Report on Form 10-K for such Fiscal Year (together with the Borrower’s annual report
to shareholders, if any, prepared pursuant to Rule 14a-3 under the Exchange Act) prepared in accordance with the requirements therefor
and filed with the SEC shall be deemed to satisfy the requirements of this Section 6.01(a)(i), and (ii) promptly when available
and in any event within 100 days after the close of each Fiscal Year, a written statement from the Borrower’s accountants
to the effect that in making the examination necessary for the signing of such annual audit report by such accountants, nothing
came to their attention that caused them to believe that the Borrower was not in compliance with any provision of Sections 7.01,
7.03, 7.04 or 7.13 of this Agreement insofar as such provision relates to accounting matters or, if something
has come to their attention that caused them to believe that the Borrower was not in compliance with any such provision, describing
such non-compliance in reasonable detail. The Borrower shall also furnish to the Administrative Agent and each Lender promptly
when available and in any event within 90 days after the close of each Fiscal Year consolidated balance sheets and statements of
earnings and cash flows of the Borrower and all Restricted Subsidiaries as at the end of such Fiscal Year prepared in accordance
with GAAP and a consolidated balance sheet and statement of earnings and cash flows of all of the Borrower’s Unrestricted
Subsidiaries as at the end of such Fiscal Year prepared in accordance with GAAP, together with information on elimination entries
(subject, in the case of the financial statements for the Borrower and its Restricted Subsidiaries and the financial statements
for the Borrower’s Unrestricted Subsidiaries, to the absence of footnotes and other deviations from GAAP that are to be listed
or itemized by the Borrower upon submission of such financial statements).

 

 

    74

     

     

(b)             
Interim Reports. Promptly when available and in any event within 45 days after the end of each Fiscal Quarter,
consolidated balance sheets of the Borrower and its Subsidiaries as of the end of such Fiscal Quarter, together with consolidated
statements of earnings and cash flows for such Fiscal Quarter and for the period beginning with the first day of such Fiscal Year
and ending on the last day of such Fiscal Quarter, together with a comparison with the corresponding period of the previous Fiscal
Year certified by a Responsible Officer of the Borrower; provided, that the availability on EDGAR or the internet
within the time period specified above of copies of the Borrower’s Quarterly Report on Form 10-Q prepared in compliance with
the requirements therefor and filed with the SEC shall be deemed to satisfy the requirements of this Section 6.01(b). The
Borrower shall also furnish to the Administrative Agent and each Lender promptly when available and in any event within 45 days
after the close of each Fiscal Quarter consolidated balance sheets of the Borrower and its Restricted Subsidiaries as of the end
of such Fiscal Quarter, together with consolidated statements of earnings and cash flows for such Fiscal Quarter, and consolidated
balance sheets of the Borrower’s Unrestricted Subsidiaries as of the end of such Fiscal Quarter, together with a consolidated
statement of earnings and cash flows and information on elimination entries reasonably satisfactory to the Administrative Agent.
All deliveries under this Section shall be prepared in accordance with GAAP (subject, in the case of the financial statements for
the Borrower and its Restricted Subsidiaries and the financial statements for the Borrower’s Unrestricted Subsidiaries, to
the absence of footnotes and other deviations from GAAP that are to be listed or itemized by the Borrower upon submission of such
financial statements).

 

(c)             
Compliance Certificates. Within 20 Business Days of the furnishing of a copy of or the making available on
EDGAR or the internet of, as the case may be, each annual audit report of Form 10-K pursuant to Section 6.01(a) and each
set of quarterly statements or Form 10-Q pursuant to Section 6.01(b), a duly completed Compliance Certificate in the form
of Exhibit E, with appropriate insertions, dated the date of such annual report or such quarterly statements and signed
by a Responsible Officer of the Borrower, containing a computation of each of the financial ratios and restrictions set forth in
Section 7.13 and to the effect that such Responsible Officer has not become aware of any Event of Default or Default that
has occurred and is continuing or, if there is any such event, describing it and the steps, if any, being taken to cure it. As
a schedule to any Compliance Certificate delivered pursuant to Section 6.01(a), the Borrower shall also provide a listing
of each of its Subsidiaries (excluding AAR International, Inc., the AAR AESL Group and the AAR IFS Group) that represents 5% or
more of the Borrower’s consolidated revenues for the Fiscal Year then ended and/or 5% or more of the Borrower’s Consolidated
Assets as of the last day of such Fiscal Year. Such schedule shall set forth the Dollar amount of each such Subsidiary’s
assets and revenues and the percentage of the Borrower’s Consolidated Assets and consolidated revenues represented by such
Subsidiary’s assets and revenues.

 

(d)             
Reports to the SEC and to Shareholders. Promptly upon the filing or sending thereof, copies of all regular,
periodic or special reports of the Borrower filed with the SEC; copies of all registration statements of the Borrower filed with
the SEC (other than on Form S-8); and copies of all proxy statements or other communications made to security holders generally,
provided that the availability on EDGAR or the internet of any such report, statement or communication shall be deemed to
satisfy the requirements of this Section 6.01(d) with respect to such report, statement or communication.

 

 

    75

     

     

(e)              
Notice of Default, Litigation and ERISA Matters. Promptly upon any Responsible Officer becoming aware of any
of the following, written notice describing the same and the steps being taken by the Borrower or the Subsidiary affected thereby
with respect to:

 

(i)             
the occurrence of an Event of Default or a Default;

 

(ii)           
any litigation, arbitration or governmental investigation or proceeding not previously disclosed by the Borrower
to the Lenders and which will not be disclosed in the next applicable SEC Filings in accordance with the requirements thereof,
which has been instituted or, to the knowledge of the Borrower, is threatened against the Borrower or any Restricted Subsidiary
or to which any of the properties of any thereof is subject which might reasonably be expected to have a Material Adverse Effect;

 

(iii)           
the institution of any steps by the Borrower, any ERISA Affiliate or any
other Person to terminate any Pension Plan, or the failure of the Borrower or any ERISA
Affiliate to make a required contribution to any Pension Plan (if such failure is sufficient to give rise to a Lien under Section
302(f) of ERISA) or to any Multiemployer Plan, or the taking of any action with respect to a Pension Plan which could result in
the requirement that the Borrower furnish a bond or other security to the PBGC or such Pension Plan, or the occurrence of any event
with respect to any Pension Plan or Multiemployer Plan which could result in the
incurrence by the Borrower or any ERISA Affiliate of any material liability, fine or penalty
(including any claim or demand for withdrawal liability or partial withdrawal from any Multiemployer Plan), or any material increase
in the contingent liability of the Borrower with respect to any post-retirement welfare benefit plan or other employee benefit
plan of the Borrower or another ERISA Affiliate, or any notice that any Multiemployer Plan is in reorganizationendangered
or critical status within the meaning of Section 432 of the Code or Section 305 of ERISA, that increased contributions
may be required to avoid a reduction in plan benefits or the imposition of an excise tax, that any such plan is or has been funded
at a rate less than that required under Section 412 of the Code, that any such plan is or may be terminated, or that any such plan
is or may become insolvent; or

 

(iv)          
any other event (including (i) any violation of any Environmental Law or the assertion of any Environmental Claim
or (ii) the enactment or effectiveness of any law, rule or regulation) which might reasonably be expected to have a Material Adverse
Effect and which will not be disclosed in the next applicable SEC Filings in accordance with the requirements thereof.

 

(f)             
Projections. As soon as reasonably practicable but no later than 60 days after the beginning of a Fiscal Year,
provided that financial projections have been approved by the board of directors of the Borrower for such Fiscal Year, the financial
projections of the Borrower and its Restricted Subsidiaries for such Fiscal Year, with each set of financial projections to be
prepared and delivered in the form approved by the board of directors of the Borrower.

 

 

    76

     

     

(g)            
Other Information. Promptly from time to time, such other information concerning the Borrower and the Restricted
Subsidiaries as any Lender or the Administrative Agent may reasonably request.

 

The
Borrower hereby acknowledges that (a) the Administrative Agent and/or the Arranger may, but shall not be obligated to, make available
to the Lenders and the L/C Issuer materials and/or information provided by or on behalf of the Borrower hereunder (collectively,
“Borrower Materials”) by posting the Borrower Materials on a Platform and (b) certain of the Lenders (each, a “Public
Lender”) may have personnel who do not wish to receive material non-public information with respect to the Borrower or its
Affiliates, or the respective securities of any of the foregoing,
and who may be engaged in investment and other market-related activities with respect to such Persons’ securities. The Borrower
hereby agrees that (w) all Borrower Materials that are to be made available to Public Lenders shall be clearly and conspicuously
marked “PUBLIC” which, at a minimum, shall mean that the word “PUBLIC” shall appear prominently on the
first page thereof; (x) by marking Borrower Materials “PUBLIC,” the Borrower shall be deemed to have authorized the
Administrative Agent, the Arranger, the L/C Issuer and the Lenders to treat such Borrower Materials as not containing any material
non-public information with respect to the Borrower or its securities for purposes of United States Federal and state securities
laws (provided, however, that to the extent such Borrower Materials constitute Information, they shall be treated as set forth
in Section 10.07); (y) all Borrower Materials marked “PUBLIC” are permitted to be made available through a portion
of the Platform designated “Public Side Information”; and (z) the Administrative Agent and the Arranger shall be entitled
to treat any Borrower Materials that are not marked “PUBLIC” as being suitable only for posting on a portion of the
Platform not designated “Public Side Information.”

 

6.02         
Books, Records and Inspections. Keep, and cause each Restricted Subsidiary to keep, its books and records
in accordance with sound business practices sufficient to allow the preparation of financial statements in accordance with GAAP;
permit, and cause each Restricted Subsidiary to permit, any Lender or the Administrative Agent or any representative thereof to
inspect the properties and operations of the Borrower or any Restricted Subsidiary; and permit, and cause each Restricted Subsidiary
to permit, at any reasonable time and with reasonable notice (or at any time without notice if an Event of Default exists), any
Lender or the Administrative Agent or any representative thereof to visit any or all of its offices, to discuss its financial matters
with its officers and its independent auditors (and the Borrower hereby authorizes such independent auditors to discuss such financial
matters with any Lender or the Administrative Agent or any representative thereof), and to examine (and, at the expense of the
Borrower and the Restricted Subsidiaries, photocopy extracts from) any of its books or other records. All such inspections or audits
by the Administrative Agent shall be at the Lenders’ ratable expense, provided that so long as no Event of Default
or Default exists, the Borrower shall not be required to reimburse the Lenders for any inspections or audits.

 

6.03         
Maintenance of Property; Insurance.

 

(a)              
Keep, and cause each Restricted Subsidiary to keep, all property useful and necessary in the business of the Borrower
and the Restricted Subsidiaries in good working order and condition, ordinary wear and tear excepted.

 

 

    77

     

     

(b)              
Maintain, and cause each Restricted Subsidiary to maintain, with responsible insurance companies, such insurance
coverage as may be required by any law or governmental regulation or court decree or order applicable to it and such other insurance,
to such extent and against such hazards and liabilities, as is customarily maintained by companies similarly situated.

 

6.04         
Compliance with Laws; Payment of Taxes and Liabilities. (a) Comply, and cause each Restricted Subsidiary
to comply, in all material respects with all applicable Laws (including Environmental Laws and requirements of laws and regulations
applicable to Pension Plans and Multiemployer Plans and Anti-Corruption Laws and applicable Sanctions), except where failure to
comply could not reasonably be expected to have a Material Adverse Effect; (b) without limiting clause (a) above, ensure,
and cause each Restricted Subsidiary to ensure, that no Person who owns a controlling interest in or otherwise controls a Restricted
Subsidiary is or shall be (i) listed on the Specially Designated Nationals and Blocked Person List maintained by the Office of
Foreign Assets Control (“OFAC”), Department of the Treasury, and/or any other similar lists maintained by OFAC
pursuant to any authorizing statute, Executive Order or regulation or (ii) a person designated under Section 1(b), (c) or (d) of
Executive Order No. 13224 (September 23, 2001), any related enabling legislation or any other similar Executive Orders,;
and (c) without limiting clause (a) above, comply, and cause each Restricted Subsidiary to comply, with all applicable
Bank Secrecy Act (“BSA”) and anti-money laundering laws and regulations and
(d) pay, and cause each Restricted Subsidiary to pay, prior to delinquency, all taxes and other governmental charges against it,
other than those (i) which are being diligently contested in good faith by appropriate proceedings and for which adequate reserves
in accordance with GAAP shall have been set aside on its books or (ii) the filing or amount of which is not individually or in
the aggregate Material..

 

6.05         
Maintenance of Existence, Etc. Maintain and preserve, and (subject to a merger permitted under Section
7.04) cause each Restricted Subsidiary to maintain and preserve (a) its existence and good standing in the jurisdiction of
its organization, except in connection with a merger of any Restricted Subsidiary into the Borrower or a Wholly-Owned Restricted
Subsidiary and (b) its qualification to do business and good standing in each jurisdiction where the nature of its business makes
such qualification necessary (other than such jurisdictions in which the failure to be qualified or in good standing could not
reasonably be expected to have a Material Adverse Effect).

 

6.06         
Use of Proceeds. Use the proceeds of the Loans, and the Letters of Credit, solely for working capital
purposes, for Acquisitions permitted by Section 7.05 and for other general business purposes and other legal purposes; and
not use or permit any proceeds of any Loan to be used, either directly or indirectly, for the purpose, whether immediate, incidental
or ultimate, of “purchasing or carrying” any margin stock (within the meaning of Regulation U issued by the FRB),
except to the extent such purchase or carrying would not cause a violation of any Law by the Borrower or any Lender. The Borrower
shall ensure that its Subsidiaries and its or their respective directors, officers, employees and agents shall not use the proceeds
of any Loan or Letter of Credit (i) in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving
of money, or anything else of value, to any Person in violation of any Anti-Corruption Laws or (ii) in any manner that would result
in the violation by any Person of any applicable Sanctions.

 

 

    78

     

     

6.07         
Additional Guarantors. Notify the Administrative Agent at the time that any Person that is a Domestic
Subsidiary becomes a Significant Subsidiary, and promptly thereafter (and in any event within 15 days), cause such Person to (a) become
a Guarantor by executing and delivering to the Administrative Agent a counterpart of the Guaranty or such other document as the
Administrative Agent shall deem appropriate for such purpose, and (b) deliver to the Administrative Agent documents of the
types referred to in clauses (iii) and (iv) of Section 4.01(a) and favorable opinions of counsel to such
Person (which shall cover, among other things, the legality, validity, binding effect and enforceability of the documentation referred
to in clause (a)), all in form, content and scope reasonably satisfactory to the Administrative Agent.

 

6.08         
PATRIOT Act Compliance; Policies and Procedures. The Borrower
shall, and shall cause each Subsidiary to, provide such information and take such actions as are reasonably requested by the Administrative
Agent or any Lender in order to assist the Administrative Agent and the Lenders in maintaining compliance with the PATRIOT Act
and the Beneficial Ownership Regulation. The Borrower shall, and shall cause each Subsidiary to, maintain
policies and procedures designed to promote and achieve compliance with the Anti-Corruption Laws and applicable Sanctions.

 

ARTICLE
VII. NEGATIVE COVENANTS

 

Until the expiration
or termination of the Commitments and thereafter until all Obligations hereunder and under the other Loan Documents are paid in
full (other than contingent or indemnification obligations which survive the termination of this Agreement) and all Letters of
Credit have been terminated, the Borrower agrees that, unless at any time the Required Lenders shall otherwise expressly consent
in writing, it will:

 

7.01         
Debt. Not, and not permit any Restricted Subsidiary to, create, incur, assume or suffer to exist any Debt,
except:

 

(a)             
Obligations under this Agreement and the other Loan Documents;

 

(b)            
Nonrecourse Debt secured by Liens permitted by Section 7.02(d), and extensions, renewals and refinancings
thereof; provided that the aggregate amount of all such Nonrecourse Debt at any time outstanding shall not exceed $100,000,000125,000,000;

 

(c)            
Debt of the Borrower to any domestic Restricted Subsidiary or Debt of any domestic Restricted Subsidiary of which
the Borrower owns, directly or indirectly, not less than 80% of the Equity Interests of such Subsidiary to the Borrower or another
domestic Restricted Subsidiary; provided that such Debt shall be evidenced by a demand note and the obligations under such
demand note shall be subordinated to the Obligations of the Borrower hereunder in a manner reasonably satisfactory to the Administrative
Agent;

 

(d)            
Subordinated Debt provided, that immediately before and immediately after the incurrence of such Subordinated Debt,
no Event of Default or Default exists;

 

(e)              
Hedging Obligations incurred for bona fide hedging purposes and not for speculation;

 

 

    79

     

     

(f)              
Debt described on Schedule 7.01 and any extension, renewal or refinancing thereof so long as the aggregate
principal amount thereof is not increased;

 

(g)            
Contingent Liabilities arising with respect to customary indemnification obligations in favor of purchasers in connection
with dispositions permitted under Section 7.05;

 

(h)            
Except as provided in Section 7.01(i) below, up to $75,000,000100,000,000
of Acquired Debt assumed in Acquisitions permitted under Section 7.06 provided that any such Debt of any Subsidiary is without
any recourse to the Borrower or any other Subsidiary (including any other Guarantor);

 

(i)             
Acquired Debt arising under Acquisitions permitted under Section 7.06 where the primary obligor thereof is
a Guarantor so long as (i) such Acquired Debt is unsecured, and (ii) such Acquired Debt is without recourse to the Borrower or
any other Subsidiary (including any other Guarantor);

 

(j)             
Debt of the Borrower or a Subsidiary incurred pursuant to Permitted Receivables Transactions; provided, that
the unpaid principal or equivalent amount thereunder shall not exceed an aggregate amount of $150,000,000175,000,000
at any time outstanding;

 

(k)             
secured Debt existing on the Closing Date evidenced by the Wood Dale Mortgage Documents
and the Debt evidenced by the Avborne IRB Documents[reserved];

 

(l)             
other secured Debt secured by any Lien permitted under clauses (k) or (l) of Section 7.02;

 

(m)           
Debt of the Borrower consisting of the 7 1⁄4% Senior Notes due 2022, and Debt
of any Restricted Subsidiary to Guarantee such Notes, provided that if such Notes are not called for redemption within 180 days
after the Closing Date, such Restricted Subsidiary shall guarantee the Borrower’s Obligations under this Agreement pursuant
to a Guaranty substantially identical to the Guaranty;[reserved]; 

 

(n)            
other secured or unsecured Debt of the Borrower or any of its Restricted Subsidiaries in an aggregate unpaid principal
amount not to exceed $30,000,00050,000,000
at any time outstanding;

 

(o)            
other unsecured Debt incurred by the Borrower provided, that, immediately before and immediately after the incurrence
of such Debt, no Event of Default or Default exists; and

 

(p)            
other unsecured Debt incurred by any Restricted Subsidiary to Guarantee Debt incurred by the Borrower as permitted
by Section 7.01(o) provided that such Subsidiary also contemporaneously Guarantees the Borrower’s Obligations under
this Agreement pursuant to a Guaranty substantially identical to the Guaranty.

 

 

    80

     

     

 

7.02         
Liens. Not, and not permit any Restricted Subsidiary to, create or permit
to exist any Lien on any of its real or personal properties, assets or rights of whatsoever nature (whether now owned or hereafter
acquired), except:

 

(a)             
Liens for taxes, assessments or other governmental charges which are not yet due and payable or the payment of which
is not at the time required by Section 6.04;

 

(b)             
statutory Liens of landlords and Liens of carriers, warehousemen, mechanics, materialmen and other similar Liens,
in each case incurred in the ordinary course of business and not in connection with borrowed money, for sums not yet due and payable
or the payment of which is being contested in good faith by appropriate proceedings;

 

(c)              
Liens (other than any Lien imposed by ERISA) incurred or deposits made in the ordinary course of business (i) in
connection with workers’ compensation, unemployment insurance and other types of social security or retirement benefits,
or (ii) to secure (or to obtain letters of credit that secure) the performance of tenders, statutory obligations, surety bonds,
appeal bonds, bids, leases (other than Capital Leases), performance bonds, purchase, construction or sales contracts and other
similar obligations, in each case not incurred or made in connection with the borrowing of money, the obtaining of advances or
credit or the payment of the deferred purchase price of property;

 

(d)             
Liens securing Nonrecourse Debt incurred by the Borrower or any Restricted Subsidiary (or any Person in which the
Borrower or any Restricted Subsidiary shall be the beneficial owner), provided that such Lien is restricted to aircraft
and engines and the lease thereof to a Person other than the Borrower or a Restricted Subsidiary;

 

(e)             
any attachment or judgment Lien; provided, that the judgment it secures shall, within 60 days after the entry
thereof, have been discharged or execution thereof stayed pending appeal, or shall have been discharged within 60 days after the
expiration of any such stay, or could not reasonably be expected to have a Material Adverse Effect;

 

(f)              
Liens on property or assets of the Borrower or any of its Restricted Subsidiaries securing Debt owing to the Borrower
or to another Restricted Subsidiary;

 

(g)              
Liens existing on the date of this Agreement (i) securing the Debt of the Borrower
and its Restricted Subsidiaries under the Wood Dale Mortgage Documents, (ii) securing the Avborne IRB Documents and (iii) securing
the Huntington Debt;

 

(h)              
leases or subleases (including aircraft or engine leases) granted to others, easements, rights-of-way, restrictions
and other similar charges, encumbrances or survey exceptions, in each case incidental to, and not interfering with, the ordinary
conduct of the business of the Borrower or any of its Restricted Subsidiaries, provided that such Liens do not, in the aggregate,
Materially detract from the value of such property;

 

(i)                
the interest of the lessor of any property subject to a lease (other than a Capital Lease) of such property under
which the Borrower or any Restricted Subsidiary is lessee, whether or not such interest is protected by a precautionary filing;

 

    81

     

    

 

(j)                
any Lien existing on property of a Person immediately prior to its being consolidated with or merged into the Borrower
or a Restricted Subsidiary or its becoming a Restricted Subsidiary, or any Lien existing on any property acquired by the Borrower
or any Restricted Subsidiary at the time such property is so acquired (whether or not the Debt secured thereby shall have been
assumed), provided that (i) no such Lien shall have been created or assumed in contemplation of such consolidation or merger
or such Person’s becoming a Restricted Subsidiary or such acquisition of property, and (ii) each such Lien shall extend solely
to the item or items of property so acquired and, if required by the terms of the instrument originally creating such Lien, other
property which is an improvement to or is acquired for specific use in connection with such acquired property;

 

(k)               
any Lien created to secure all or any part of the purchase price, or to secure Debt incurred or assumed to pay all
or any part of the purchase price or cost of construction, of property (or any improvement thereon) acquired or constructed by
the Borrower or a Restricted Subsidiary after the date of the Closing Date,
provided that:

 

(i)              
any such Lien shall extend solely to the item or items of such property (or improvement thereon) so acquired or constructed
and, if required by the terms of the instrument originally creating such Lien, other property (or improvement thereon) which is
an improvement to or is acquired for specific use in connection with such acquired or constructed property (or improvement thereon)
or which is real property being improved by such acquired or constructed property (or improvement thereon),

 

(ii)             
the principal amount of the Debt secured by any such Lien shall at no time exceed an amount equal to the lesser of
(A) the cost to the Borrower or such Restricted Subsidiary of the property (or improvement thereon) so acquired or constructed
and (B) the fair market value (as determined in good faith by a Responsible Officer of the Borrower) of such property (or improvement
thereon) at the time of such acquisition or construction,

 

(iii)            
in the case of inventory, the net book value, net of applicable reserves, of all inventory subject to such Liens
shall not at any time exceed 20% of the aggregate net book value, net of applicable reserves, of all inventory of the Borrower
and its Restricted Subsidiaries, and

 

(iv)            
any such Lien shall be created contemporaneously with, or within 365 days after, the acquisition or construction
of such property;

 

(l)             
any Lien renewing, extending or refunding any Lien permitted by paragraphs (g), (j) and (k) of this Section 7.02,
provided that (i) the principal amount of Debt secured by such Lien immediately prior to such extension, renewal or refunding
is not increased or the maturity thereof reduced, (ii) such Lien is not extended to any other property, and (iii) immediately after
such extension, renewal or refunding no Default or Event of Default would exist;

 

(m)            
Liens on notes or accounts receivable sold by the Borrower or any Restricted Subsidiary (or any related security,
collections or proceeds with respect thereto or, if applicable, any segregated bank account established for the purpose of holding,
among other things, collections and proceeds with respect to such accounts receivable), incurred pursuant to Permitted Receivables
Transactions; provided, that the unpaid principal amount of Debt or other obligations secured by such Liens shall not exceed
$150,000,000 at any time outstanding; and

 

    82

     

    

 

(n)              
Liens securing Debt of the Borrower or any of its Restricted Subsidiaries that is permitted under Section 7.01(n).

 

7.03         
Restricted Payments. Not, and not permit any Restricted Subsidiary to,
(a) make any distribution to any holders of its Equity Interests, (b) purchase or redeem any of its Equity Interests, or (c) set
aside funds for any of the foregoing. Notwithstanding the foregoing, (i) any Subsidiary may pay dividends or make other distributions
to, and purchase or redeem Equity Interests from, the Borrower or a domestic Wholly-Owned Subsidiary; (ii) any foreign Subsidiary
may pay dividends or make other distributions to, and purchase or redeem Equity Interests from, the Borrower or any other Subsidiary;
and (iii) so long as no Event of Default or Default exists or would result therefrom, the Borrower may pay dividends or make other
distributions to, and purchase or redeem Equity Interests from, the holders of its Equity Interests.

 

7.04         
Mergers and Consolidations. Not, and not permit any Restricted Subsidiary
to, consolidate with or merge with any other corporation or convey, transfer or lease substantially all of its assets in a single
transaction or series of transactions to any Person (except that a Restricted Subsidiary of the Borrower may (x) consolidate with
or merge with, or convey, transfer or lease substantially all of its assets in a single transaction or series of transactions to,
the Borrower or another Restricted Subsidiary of the Borrower or any other Person that will, after giving effect to the consummation
of such transaction or series of transactions, constitute a Restricted Subsidiary and (y) convey, transfer or lease all of its
assets in compliance with the provisions of Section 7.05), provided that the foregoing restriction does not apply
to the consolidation or merger of the Borrower with, or the conveyance, transfer or lease of substantially all of the assets of
the Borrower in a single transaction or series of transactions to, any Person so long as (i) the successor formed by such consolidation
or the survivor of such merger or the Person that acquires by conveyance, transfer or lease substantially all of the assets of
the Borrower, as the case may be (the “Successor Corporation”), shall be a solvent corporation, limited liability
company or other limited liability entity organized and existing under the laws of the United States of America, any State thereof
or the District of Columbia, (ii) the Successor Corporation (if not the Borrower) agrees in writing to assume all of the obligations
of the Borrower under this Agreement and each other Loan Document to which the Borrower is a party, and (iii) immediately after
giving effect to such transaction no Default or Event of Default would exist. No such conveyance, transfer or lease of substantially
all of the assets of the Borrower shall have the effect of releasing the Borrower or any Successor Corporation from its liability
under this Agreement or the Loan Documents.

 

7.05         
Sale of Assets, Etc.. Except as permitted under Section 7.04 or
in connection with an Acquisition not prohibited by Section 7.06, not, and not permit any of its Restricted Subsidiaries
to, make any Asset Dispositions unless:

 

(a)              
in the good faith opinion of the Borrower, the Asset Disposition is in exchange for consideration having a Fair Market
Value at least equal to that of the property exchanged and is in the best interest of the Borrower or such Restricted Subsidiary;

 

    83

     

    

 

(b)              
immediately after giving effect to the Asset Disposition, no Default or Event of Default would exist; and

 

(c)              
immediately after giving effect to the Asset Disposition, the Disposition Value of all property that was the subject
of any Asset Disposition (other than any Transfers pursuant to clause
(ii) below) occurring in the then current Fiscal Year of the Borrower would not exceed 10% of Consolidated Assets as
of the end of the then most recently ended Fiscal Year of the Borrower.

 

If the Net Proceeds Amount for any Transfer
is applied to a Debt Prepayment Application or a Property Reinvestment Application within 365 days after such Transfer,
then or, if a letter of intent or binding commitment
to reinvest such Net Proceeds Amount is entered into within such 365-day period, within 545 days after such Transfer,
then, in each case, such Transfer, only for the purpose of determining compliance with subsection (c) of this Section
as of a date on or after the Net Proceeds Amount is so applied, shall be deemed not to be an Asset Disposition.

 

Notwithstanding the foregoing, the Borrower
and its Restricted Subsidiaries may (i) Transfer their interests in the Cargo/Precision Companies and,
(ii) make Transfers related to the Disposition of AAR Airlift Group,
Inc. with an aggregate Disposition Value not to exceed $90,000,000, and (iii) enter into any Permitted Receivables Transaction
permitted under Section 7.01.

 

7.06         
Acquisitions. Not, and not permit any Restricted Subsidiary to, acquire
all or substantially all of the assets or any Equity Interests of any class of, or any partnership or joint venture interest in,
any other Person, except for any Acquisition by the Borrower or any domestic Wholly-Owned Subsidiary that is a Restricted Subsidiary
where:

 

(a)              
the business or division acquired are for use, or the Person acquired is engaged, in a business which would not cause
the general nature of the business in which the Borrower and its Restricted Subsidiaries, taken as a whole, are engaged immediately
after giving effect to such Acquisition to be substantially changed from the general nature of the business in which the Borrower
and its Restricted Subsidiaries, taken as a whole, are engaged on or immediately prior to the Closing Date;

 

(b)             
immediately before and after giving effect to such Acquisition, no Event of Default or Default shall exist;

 

(c)             
immediately after giving effect to such Acquisition, the Borrower is in pro forma compliance with all the financial
ratios and restrictions set forth in Section 7.13; provided, that (x) the Borrower shall calculate such pro forma
compliance based upon the most-recent trailing twelve month historical financial statements for the Borrower and the target to
be acquired, (y) all such information for the Borrower and the target shall be used and shall comply with the defined terms (such
as, for example, Consolidated Net Income) used in this Agreement to calculate, among other things, financial covenants, and (z)
the following formula shall be used to determine the target’s EBITDA: Consolidated Net Income plus, to the extent
deducted in determining such Consolidated Net Income, Interest Expense, income and franchise tax expense, depreciation and amortization;
and

 

    84

     

    

 

(d)            
in the case of the Acquisition of any Person, the board of directors or similar governing body of such Person has
approved such Acquisition prior to the occurrence thereof;

 

(e)             
to the extent available, reasonably prior to such Acquisition, the Administrative Agent shall have received complete
executed or conformed copies of each material document, instrument and agreement to be executed in connection with such Acquisition
together with all lien search reports and lien release letters and other documents as the Administrative Agent may require to evidence
the termination of Liens on the assets or business to be acquired (except to the extent the Borrower or a Restricted Subsidiary
is assuming such Liens pursuant to the Acquisition);

 

(f)             
to the extent available, Borrower shall use reasonable efforts prior to such Acquisition to provide the Administrative
Agent an acquisition summary with respect to the Person and/or business or division to be acquired, such summary to include a reasonably
detailed description thereof (including financial information) and operating results (including financial statements for the most
recent 12 month period for which they are available and as otherwise available), the terms and conditions, including economic terms,
of the proposed Acquisition, and the Borrower’s calculation of pro forma EBITDA relating thereto; and

 

(g)              
if the Acquisition is structured as a merger, the Borrower or a Restricted Subsidiary is the surviving entity (including
a surviving entity that becomes a Restricted Subsidiary);

 

provided, that clauses
(e) and (f) shall apply only if the consideration paid in connection with the Acquisition is greater than $25,000,000.

 

7.07         
[Reserved]. 

 

7.08         
Transactions with Affiliates. Not, and not permit any Restricted Subsidiary
to, enter into, or cause, suffer or permit to exist any transaction, arrangement or contract with any of its Affiliates (other
than its Subsidiaries) which is on terms which are materially less favorable than are obtainable from any Person which is not one
of its Affiliates.

 

7.09         
Inconsistent Agreements. Not, and not permit any Restricted Subsidiary
to, enter into any agreement, document or instrument after the Closing Date containing any provision which would (a) be violated
or breached by any borrowing by the Borrower hereunder or by the performance by the Borrower of any of its Obligations hereunder
or under any other Loan Document, (b) prohibit the Borrower or any Restricted Subsidiary from granting to the Administrative Agent
and the Lenders, a Lien on any of its assets (other than any provision in any agreement relating to Debt secured by Liens permitted
under Section 7.02(k), Acquired Debt, the Huntington Debt, Nonrecourse Debt or Permitted Receivables Transactions that prohibits
the Borrower or such Restricted Subsidiary from granting a Lien to the Administrative Agent and the Lenders upon the asset or assets
which secure such Debt or otherwise directly corresponding with such financing), or (c) create or permit to exist or become effective
any encumbrance or restriction on the ability of any Restricted Subsidiary to (i) pay dividends or make other distributions to
the Borrower or any Wholly-Owned Subsidiary, or pay any Debt owed to the Borrower or any other Restricted Subsidiary, (ii) make
loans or advances to the Borrower or any Restricted Subsidiary or (iii) transfer any of its assets or properties to the Borrower
or any Restricted Subsidiary, other than (A) customary restrictions and conditions contained in agreements relating to the sale
of all or a substantial part of the assets of any Subsidiary pending such sale, provided that such restrictions and conditions
apply only to the Subsidiary to be sold and such sale is permitted hereunder, (B) restrictions or conditions, other than those
prohibited by clause (b), imposed by any agreement relating to Debt secured by Liens permitted under Section 7.02(k), Acquired
Debt, the Huntington Debt, Nonrecourse Debt, Permitted Receivables Transactions and other secured Debt permitted by this Agreement
and (C) customary provisions in leases and other contracts restricting the assignment thereof.

 

    85

     

    

 

7.10         
Business Activities. Not, and not permit any of its Restricted Subsidiaries
to, engage in any business if, as a result, the general nature of the business in which the Borrower and its Restricted Subsidiaries,
taken as a whole, would then be engaged would be substantially changed from the general nature of the business in which the Borrower
and its Restricted Subsidiaries, taken as a whole, are engaged on the Closing Date.

 

7.11         
Investments. Not, and not permit any Restricted Subsidiary to, make or
permit to exist any Investment in any other Person, except the following:

 

(a)              
contributions by the Borrower to the capital of any Wholly-Owned Subsidiary, or by any Subsidiary to the capital
of any other domestic Wholly-Owned Subsidiary; provided, however, that neither the Borrower nor any Restricted Subsidiary
shall make an Investment in an Unrestricted Subsidiary to finance in whole or in part an Acquisition;

 

(b)              
Investments in any Person that concurrently with such Investment becomes a Restricted Subsidiary;

 

(c)              
Investments in property to be used in the ordinary course of business of the Borrower and its Restricted Subsidiaries;

 

(d)              
Investments constituting Debt permitted by Section 7.01;

 

(e)              
Contingent Liabilities constituting Debt permitted by Section 7.01 or Liens permitted by Section 7.02;

 

(f)               
Cash Equivalent Investments;

 

(g)              
bank deposits in the ordinary course of business;

 

(h)             
Investments in securities of account debtors received pursuant to any plan of reorganization or similar arrangement
upon the bankruptcy or insolvency of such account debtors;

 

(i)                
Investments in a Restricted Subsidiary to permit the Restricted Subsidiary to consummate Acquisitions permitted by
Section 7.06;

 

(j)                
Investments listed on Schedule 7.11 as of the Closing Date;

 

    86

     

    

 

(k)              
treasury stock; and

 

(l)              
Investments in Unrestricted Subsidiaries and other Investments, provided that immediately after giving effect to
any such Investment the Borrower is in compliance with Section 7.13 and no Event of Default or Default exists;

 

provided that
(x) any Investment which when made complies with the requirements of the definition of the term “Cash Equivalent Investment”
may continue to be held notwithstanding that such Investment if made thereafter would not comply with such requirements; (y) no
Investment otherwise permitted by clause (d), (e), or (i) shall be permitted to be made if, immediately before or after giving
effect thereto, any Event of Default or Default exists.

 

7.12         
Fiscal Year. Not change its Fiscal Year.

 

7.13         
Financial Covenants.

 

(a)             
Minimum Interest Coverage Ratio. Not permit the Interest Coverage Ratio for any Computation Period to be less
than 3.00 to 1.00.

 

(b)            
Maximum Adjusted Total Debt to EBITDA Ratio. Not permit the Adjusted Total Debt to EBITDA Ratio for any Computation
Period to be greater than 3.50 to 1.00.;
provided, that in connection with any Acquisition (whether by direct purchase, merger or otherwise and whether in a single
transaction or series of related transactions) for which the aggregate purchase price in respect thereof is greater than or equal
to $75,000,000 (any such acquisition, a “Specified Acquisition”), the Adjusted Total Debt to EBITDA Ratio with respect
to any Computation Period ending on the last day of each of the four consecutive Fiscal Quarters commencing with the Fiscal Quarter
in which such Specified Acquisition occurs (each such period, an “Acquisition Holiday”) shall not exceed 4.00:1.00;
provided, further that (w) at the time of commencement of any such Acquisition Holiday, no Event of Default shall have occurred
and be continuing, (x) no Acquisition Holiday shall be available during the two (2) consecutive Fiscal Quarters occurring immediately
after any Acquisition Holiday shall have concluded and (y) for the avoidance of doubt, for all Computation Periods after the end
of an Acquisition Holiday prior to any subsequent Acquisition Holiday, the maximum permitted Adjusted Total Debt to EBITDA Ratio
shall revert to 3.50 to 1.00.

 

ARTICLE
VIII. EVENTS OF DEFAULT AND REMEDIES

 

8.01         
Events of Default. Any of the following shall constitute an Event of Default:

 

(a)              
Non-Payment. The Borrower or any other Loan Party fails to pay (i) when and as required to be paid herein
or under the Guaranty, any amount of principal of any Loan, any L/C Obligation or any payment due under the Guaranty, or (ii) within
five days after the same becomes due and the Borrower or any other Loan Party shall have received notice of the amount due, any
interest on any Loan or on any L/C Obligation, or any fee due hereunder, or (iii) within five days after the same becomes
due, any other amount payable hereunder or under any other Loan Document; or

 

    87

     

    

 

(b)              
Non-Payment of Other Debt. Any default shall occur under the terms applicable to any Debt of the Borrower
or any Significant Subsidiary in an aggregate amount (for all such Debt so affected and including undrawn committed or available
amounts and amounts owing to all creditors under any combined or syndicated credit arrangement) exceeding $20,000,000 and such
default shall (i) consist of the failure to pay such Debt when due, whether by acceleration or otherwise, or (ii) accelerate the
maturity of such Debt or permit the holder or holders thereof, or any trustee or agent for such holder or holders, to cause such
Debt to become due and payable (or require the Borrower or any Restricted Subsidiary to purchase or redeem such Debt or post cash
collateral in respect thereof) prior to its expressed maturity; or

 

(c)              
Specific Covenants. The Borrower fails to perform or observe any term, covenant or agreement contained in
any of Section 6.01(e), 6.05, 7.01, 7.02, 7.03, 7.04, 7.05, 7.06
or 7.13; or

 

(d)              
Other Defaults. Any Loan Party fails to perform or observe any other covenant or agreement (not specified
in subsection (a) or (c) above) contained in any Loan Document on its part to be performed or observed and such failure
continues for 30 days; or

 

(e)              
Hedging Agreements. There occurs under any Hedging Agreement an early termination date resulting from (A)
any event of default under such Hedging Agreement as to which the Borrower or any Subsidiary is the defaulting party or (B) any
termination event under such Hedging Agreement as to which the Borrower or any Subsidiary is an affected party and, in either event,
the Hedging Termination Value owed by the Borrower or such Subsidiary as a result thereof is greater than the $15,000,000; or

 

(f)               
Representations and Warranties. Any representation, warranty, certification or statement of fact made or deemed
made by or on behalf of the Borrower or any other Loan Party herein, in any other Loan Document, or in any document delivered in
connection herewith or therewith shall be incorrect or misleading in any material respect when made or deemed made; or

 

(g)              
Insolvency Proceedings, Etc. The Borrower or any of its Significant Subsidiaries institutes or consents to
the institution of any proceeding under any Debtor Relief Law, or makes an assignment for the benefit of creditors; or applies
for or consents to the appointment of any receiver, trustee, custodian, conservator, liquidator, rehabilitator or similar officer
for it or for all or any material part of its property; or any receiver, trustee, custodian, conservator, liquidator, rehabilitator
or similar officer is appointed without the application or consent of such Person and the appointment continues undischarged or
unstayed for 60 calendar days; or any proceeding under any Debtor Relief Law relating to any such Person or to all or any material
part of its property is instituted without the consent of such Person and continues undismissed or unstayed for 60 calendar days,
or an order for relief is entered in any such proceeding; or

 

(h)              
Inability to Pay Debts; Attachment. (i) The Borrower or any Significant Subsidiary becomes unable or
admits in writing its inability or fails generally to pay its debts as they become due, or (ii) any writ or warrant of attachment
or execution or similar process is issued or levied against all or any material part of the property of any such Person and is
not released, vacated or fully bonded within 60 days after its issue or levy; or

 

    88

     

    

 

(i)                
Judgments. There is entered against the Borrower or any Significant Subsidiary one or more final judgments
or orders for the payment of money in an aggregate amount (as to all such judgments or orders) exceeding $20,000,000 (to the extent
not covered by independent third-party insurance as to which the insurer does not dispute coverage) and (i) enforcement proceedings
are commenced by any creditor upon such judgment or order, or (ii) there is a period of 60 consecutive days during which a
stay of enforcement of such judgment, by reason of a pending appeal or otherwise, is not in effect; or

 

(j)                
ERISA. (i) An ERISA Event occurs with respect to a Pension Plan or Multiemployer Plan which has resulted or
would reasonably be expected to result in liability of the Borrower under Title IV of ERISA to the Pension Plan, Multiemployer
Plan or PBGC in an aggregate amount in excess of $20,000,000, or (ii) the Borrower or any ERISA Affiliate fails to pay when due,
after the expiration of any applicable grace period, any installment payment with respect to its withdrawal liability under Section
4201 of ERISA under a Multiemployer Plan in an aggregate amount in excess of $20,000,000; or

 

(k)              
Invalidity of Loan Documents; Effectiveness of Guaranty. (i) Any material provision of any Loan Document,
at any time after its execution and delivery and for any reason other than as expressly permitted hereunder or thereunder or satisfaction
in full of all the Obligations, ceases to be in full force and effect; or any Loan Party or any other Person contests in any manner
the validity or enforceability of any material provision of any Loan Document; or any Loan Party denies that it has any or further
liability or obligation under any Loan Document, or purports to revoke, terminate or rescind any material provision of any Loan
Document, or (ii) the Guaranty fails to become effective on May 16, 2011; or

 

(l)                
Change of Control. There occurs any Change of Control.

 

8.02         
Remedies Upon Event of Default. If any Event of Default occurs and is
continuing, the Administrative Agent shall, at the request of, or may, with the consent of, the Required Lenders, take any or all
of the following actions:

 

(a)              
declare the Commitment of each Lender to make Loans and any obligation of the L/C Issuer to make L/C Credit Extensions
to be terminated, whereupon such Commitments and obligation shall be terminated;

 

(b)              
declare the unpaid principal amount of all outstanding Loans, all interest accrued and unpaid thereon, and all other
amounts owing or payable hereunder or under any other Loan Document to be immediately due and payable, without presentment, demand,
protest or other notice of any kind, all of which are hereby expressly waived by the Borrower;

 

(c)               
require that the Borrower Cash Collateralize the L/C Obligations (in an amount equal to the then Outstanding Amount
thereof); and

 

(d)               
exercise on behalf of itself, the Lenders and the L/C Issuer all rights and remedies available to it, the Lenders
and the L/C Issuer under the Loan Documents;

 

provided, however, that upon
the occurrence of an actual or deemed entry of an order for relief with respect to the Borrower under the Bankruptcy Code of the
United States, the obligation of each Lender to make Loans and any obligation of the L/C Issuer to make L/C Credit Extensions shall
automatically terminate, the unpaid principal amount of all outstanding Loans and all interest and other amounts as aforesaid shall
automatically become due and payable, and the obligation of the Borrower to Cash Collateralize the L/C Obligations as aforesaid
shall automatically become effective, in each case without further act of the Administrative Agent or any Lender.

 

    89

     

    

 

8.03         
Application of Funds. After the exercise of remedies provided for in Section 8.02
(or after the Loans have automatically become immediately due and payable and the L/C Obligations have automatically been required
to be Cash Collateralized as set forth in the proviso to Section 8.02), any amounts received on account of the Obligations
shall, subject to the provisions of Sections 2.17 and 2.18, be applied by the Administrative Agent in the following
order:

 

First, to payment
of that portion of the Obligations constituting fees, indemnities, expenses and other amounts (including fees, charges and disbursements
of counsel to the Administrative Agent and amounts payable under Article III) payable to the Administrative Agent in
its capacity as such;

 

Second, to payment
of that portion of the Obligations constituting fees, indemnities and other amounts (other than principal, interest and Letter
of Credit Fees) payable to the Lenders and the L/C Issuer (including fees, charges and disbursements of counsel to the respective
Lenders and the L/C Issuer and amounts payable under Article III), ratably among them in proportion to the respective
amounts described in this clause Second payable to them;

 

Third, to payment
of that portion of the Obligations constituting accrued and unpaid Letter of Credit Fees and interest on the Loans, L/C Borrowings
and other Obligations, ratably among the Lenders and the L/C Issuer in proportion to the respective amounts described in this clause
Third payable to them;

 

Fourth, to payment
of that portion of the Obligations constituting unpaid principal of the Loans, L/C Borrowings, Hedging Obligations and Bank Product
Obligations, ratably among the Lenders or their Affiliates and the L/C Issuer in proportion to the respective amounts described
in this clause Fourth held by them;

 

Fifth, to the
Administrative Agent for the account of the L/C Issuer, to Cash Collateralize that portion of L/C Obligations comprised of the
aggregate undrawn amount of Letters of Credit to the extent not otherwise Cash Collateralized by the Borrower pursuant to Sections 2.04
and 2.17; and

 

Last, the balance,
if any, after all of the Obligations have been indefeasibly paid in full, to the Borrower or as otherwise required by Law.

 

Subject to Sections 2.04(c) and
2.17, amounts used to Cash Collateralize the aggregate undrawn amount of Letters of Credit pursuant to clause Fifth
above shall be applied to satisfy drawings under such Letters of Credit as they occur. If any amount remains on deposit as Cash
Collateral after all Letters of Credit have either been fully drawn or expired, such remaining amount shall be applied to the other
Obligations, if any, in the order set forth above.

 

    90

     

    

 

ARTICLE
IX. ADMINISTRATIVE AGENT

 

9.01         
Appointment and Authority. Each of the Lenders and the L/C Issuer hereby
irrevocably appoints Bank of America to act on its behalf as the Administrative Agent hereunder and under the other Loan Documents
and authorizes the Administrative Agent to take such actions on its behalf and to exercise such powers as are delegated to the
Administrative Agent by the terms hereof or thereof, together with such actions and powers as are reasonably incidental thereto.
The provisions of this Article are solely for the benefit of the Administrative Agent, the Lenders and the L/C Issuer, and neither
the Borrower nor any other Loan Party shall have rights as a third party beneficiary of any of such provisions. It
is understood and agreed that the use of the term “agent” herein or in any other Loan Documents (or any other similar
term) with reference to the Administrative Agent is not intended to connote any fiduciary or other implied (or express) obligations
arising under agency doctrine of any applicable Law. Instead such term is used as a matter of market custom, and is intended to
create or reflect only an administrative relationship between contracting parties.

 

9.02         
Rights as a Lender. The Person serving as the Administrative Agent hereunder
shall have the same rights and powers in its capacity as a Lender as any other Lender and may exercise the same as though it were
not the Administrative Agent and the term “Lender” or “Lenders” shall, unless otherwise expressly indicated
or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity.
Such Person and its Affiliates may accept deposits from, lend money to, act as the financial advisor or in any other advisory capacity
for and generally engage in any kind of business with the Borrower or any Subsidiary or other Affiliate thereof as if such Person
were not the Administrative Agent hereunder and without any duty to account therefor to the Lenders.

 

9.03         
Exculpatory Provisions. The Administrative Agent shall not have any duties
or obligations except those expressly set forth herein and in the other Loan Documents. Without limiting the generality of the
foregoing, the Administrative Agent:

 

(a)             
shall not be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is
continuing;

 

(b)             
shall not have any duty to take any discretionary action or exercise any discretionary powers, except discretionary
rights and powers expressly contemplated hereby or by the other Loan Documents that the Administrative Agent is required to exercise
as directed in writing by the Required Lenders (or such other number or percentage of the Lenders as shall be expressly provided
for herein or in the other Loan Documents), provided that the Administrative Agent shall not be required to take any action
that, in its opinion or the opinion of its counsel, may expose the Administrative Agent to liability or that is contrary to any
Loan Document or applicable law; and

 

(c)             
shall not, except as expressly set forth herein and in the other Loan Documents, have any duty to disclose, and shall
not be liable for the failure to disclose, any information relating to the Borrower or any of its Affiliates that is communicated
to or obtained by the Person serving as the Administrative Agent or any of its Affiliates in any capacity.

 

    91

     

    

 

The Administrative
Agent shall not be liable for any action taken or not taken by it (i) with the consent or at the request of the Required Lenders
(or such other number or percentage of the Lenders as shall be necessary, or as the Administrative Agent shall believe in good
faith shall be necessary, under the circumstances as provided in Sections 10.01 and 8.02) or (ii) in the
absence of its own gross negligence or willful misconduct. The Administrative Agent shall be deemed not to have knowledge of any
Default unless and until notice describing such Default is given to the Administrative Agent by the Borrower, a Lender or the L/C
Issuer.

 

The Administrative
Agent shall not be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or representation
made in or in connection with this Agreement or any other Loan Document, (ii) the contents of any certificate, report or other
document delivered hereunder or thereunder or in connection herewith or therewith, (iii) the performance or observance of
any of the covenants, agreements or other terms or conditions set forth herein or therein or the occurrence of any Default, (iv) the
validity, enforceability, effectiveness or genuineness of this Agreement, any other Loan Document or any other agreement, instrument
or document or (v) the satisfaction of any condition set forth in Article IV or elsewhere herein, other than to
confirm receipt of items expressly required to be delivered to the Administrative Agent.

 

9.04         
Reliance by Administrative Agent. The Administrative Agent shall be entitled
to rely upon, and shall not incur any liability for relying upon, any notice, request, certificate, consent, statement, instrument,
document or other writing (including any electronic message, internet or intranet website posting or other distribution) believed
by it to be genuine and to have been signed, sent or otherwise authenticated by the proper Person. The Administrative Agent also
may rely upon any statement made to it orally or by telephone and believed by it to have been made by the proper Person, and shall
not incur any liability for relying thereon. In determining compliance with any condition hereunder to the making of a Loan, or
the issuance of a Letter of Credit, that by its terms must be fulfilled to the satisfaction of a Lender or the L/C Issuer, the
Administrative Agent may presume that such condition is satisfactory to such Lender or the L/C Issuer unless the Administrative
Agent shall have received notice to the contrary from such Lender or the L/C Issuer prior to the making of such Loan or the issuance
of such Letter of Credit. The Administrative Agent may consult with legal counsel (who may be counsel for the Borrower), independent
accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in accordance with
the advice of any such counsel, accountants or experts.

 

9.05         
Delegation of Duties. The Administrative Agent may perform any and all
of its duties and exercise its rights and powers hereunder or under any other Loan Document by or through any one or more sub-agents
appointed by the Administrative Agent. The Administrative Agent and any such sub-agent may perform any and all of its duties and
exercise its rights and powers by or through their respective Related Parties. The exculpatory provisions of this Article shall
apply to any such sub-agent and to the Related Parties of the Administrative Agent and any such sub-agent, and shall apply to their
respective activities in connection with the syndication of the credit facilities provided for herein as well as activities as
Administrative Agent. The Administrative Agent shall not be responsible
for the negligence or misconduct of any sub-agents except to the extent that a court of competent jurisdiction determines in a
final and non-appealable judgment that the Administrative Agent acted with gross negligence or willful misconduct in the selection
of such sub-agents.

 

    92

     

    

 

9.06         
Resignation of Administrative Agent. The Administrative Agent may at any
time give notice of its resignation to the Lenders, the L/C Issuer and the Borrower. Upon receipt of any such notice of resignation,
the Required Lenders shall have the right, in consultation with the Borrower, to appoint a successor, which shall be a bank with
an office in the United States, or an Affiliate of any such bank with an office in the United States. If no such successor shall
have been so appointed by the Required Lenders and shall have accepted such appointment within 30 days after the retiring
Administrative Agent gives notice of its resignation, then the retiring Administrative Agent may on behalf of the Lenders and the
L/C Issuer, appoint a successor Administrative Agent meeting the qualifications set forth above; provided that if the Administrative
Agent shall notify the Borrower and the Lenders that no qualifying Person has accepted such appointment, then such resignation
shall nonetheless become effective in accordance with such notice and (1) the retiring Administrative Agent shall be discharged
from its duties and obligations hereunder and under the other Loan Documents and (2) all payments, communications and determinations
provided to be made by, to or through the Administrative Agent shall instead be made by or to each Lender and the L/C Issuer directly,
until such time as the Required Lenders appoint a successor Administrative Agent as provided for above in this Section. Upon the
acceptance of a successor’s appointment as Administrative Agent hereunder, such successor shall succeed to and become vested
with all of the rights, powers, privileges and duties of the retiring (or retired) Administrative Agent, and the retiring Administrative
Agent shall be discharged from all of its duties and obligations hereunder or under the other Loan Documents (if not already discharged
therefrom as provided above in this Section). The fees payable by the Borrower to a successor Administrative Agent shall be the
same as those payable to its predecessor unless otherwise agreed between the Borrower and such successor. After the retiring Administrative
Agent’s resignation hereunder and under the other Loan Documents, the provisions of this Article and Section 10.04
shall continue in effect for the benefit of such retiring Administrative Agent, its sub-agents and their respective Related Parties
in respect of any actions taken or omitted to be taken by any of them while the retiring Administrative Agent was acting as Administrative
Agent.

 

9.07         
Non-Reliance on Administrative Agent and Other Lenders. Each Lender and
the L/C Issuer acknowledges that it has, independently and without reliance upon the Administrative Agent or any other Lender or
any of their Related Parties and based on such documents and information as it has deemed appropriate, made its own credit analysis
and decision to enter into this Agreement. Each Lender and the L/C Issuer also acknowledges that it will, independently and without
reliance upon the Administrative Agent or any other Lender or any of their Related Parties and based on such documents and information
as it shall from time to time deem appropriate, continue to make its own decisions in taking or not taking action under or based
upon this Agreement, any other Loan Document or any related agreement or any document furnished hereunder or thereunder.

 

9.08         
No Other Duties, Etc. Anything herein to the contrary notwithstanding,
no Arrangers listed on the cover page hereof shall have any powers, duties or responsibilities under this Agreement or any of the
other Loan Documents, except in its capacity, as applicable, as the Administrative Agent, a Lender or the L/C Issuer hereunder.

 

    93

     

    

 

9.09         
Administrative Agent May File Proofs of Claim. In
case of the pendency of any proceeding under any Debtor Relief Law or any other judicial proceeding relative to any Loan Party,
the Administrative Agent (irrespective of whether the principal of any Loan or L/C Obligation shall then be due and payable as
herein expressed or by declaration or otherwise and irrespective of whether the Administrative Agent shall have made any demand
on the Borrower) shall be entitled and empowered, by intervention in such proceeding or otherwise:

 

(a)              
to file and prove a claim for the whole amount of the principal and interest owing and unpaid in respect of the Loans,
L/C Obligations and all other Obligations that are owing and unpaid and to file such other documents as may be necessary or advisable
in order to have the claims of the Lenders, the L/C Issuer and the Administrative Agent (including any claim for the reasonable
compensation, expenses, disbursements and advances of the Lenders, the L/C Issuer and the Administrative Agent and their respective
agents and counsel and all other amounts due the Lenders, the L/C Issuer and the Administrative Agent under Sections 2.04(h)
and (i), 2.10 and 10.04) allowed in such judicial proceeding; and

 

(b)              
to collect and receive any monies or other property payable or deliverable on any such claims and to distribute the
same;

 

and any custodian, receiver, assignee,
trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Lender
and the L/C Issuer to make such payments to the Administrative Agent and, in the event that the Administrative Agent shall consent
to the making of such payments directly to the Lenders and the L/C Issuer, to pay to the Administrative Agent any amount due for
the reasonable compensation, expenses, disbursements and advances of the Administrative Agent and its agents and counsel, and any
other amounts due the Administrative Agent under Sections 2.10 and 10.04.

 

Nothing contained herein shall be deemed
to authorize the Administrative Agent to authorize or consent to or accept or adopt on behalf of any Lender or the L/C Issuer any
plan of reorganization, arrangement, adjustment or composition affecting the Obligations or the rights of any Lender or the L/C
Issuer to authorize the Administrative Agent to vote in respect of the claim of any Lender or the L/C Issuer in any such proceeding.

 

    94

     

    

 

9.10         
Guaranty Matters. The Lenders and
the L/C Issuer irrevocably authorize the Administrative Agent, at its option and in its discretion, to release any Guarantor from
its obligations under the Guaranty if such Person ceases to be a Restricted Subsidiary as a result of a transaction permitted hereunder.
Upon request by the Administrative Agent at any time, the Required Lenders will confirm in writing the Administrative Agent’s
authority to release any Guarantor from its obligations under the Guaranty pursuant to this Section 9.10.

 

9.11         
Syndication Agents; Documentation Agents. None
of the Lenders identified in this Agreement as a Syndication Agent or Documentation Agent shall have any right, power, obligation,
liability, responsibility or duty under this Agreement other than those applicable to all Lenders as such. Without limiting the
foregoing, none of such Lenders shall have or be deemed to have a fiduciary relationship with any Lender. Each Lender hereby makes
the same acknowledgments with respect to such Lenders as it makes with respect to the Administrative
Agent in Section 9.07.

 

9.12         
Certain ERISA Matters. 

 

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

 

(i)                
such Lender is not using “plan assets” (within the meaning of
Section 3(42) of ERISA or otherwise) of one or more Benefit Plans with respect to such Lender’s entrance into, participation
in, administration of and performance of the Loans, the Letters of Credit, the Commitments or this Agreement,

 

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

 

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

 

    95

     

    

 

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

 

(b)              
In addition, unless either (1) sub-clause (i) in the immediately preceding
clause (a) is true with respect to a Lender or (2) a Lender has provided another representation, warranty and covenant in accordance
with sub-clause (iv) in the immediately preceding clause (a), such Lender further (x) represents and warrants, as of the date
such Person became a Lender party hereto, to, and (y) covenants, from the date such Person became a Lender party hereto to the
date such Person ceases being a Lender party hereto, for the benefit of, the Administrative Agent and the Arrangers and their
respective Affiliates and not, for the avoidance of doubt, to or for the benefit of the Borrower or any other Loan Party, that
the Administrative Agent is not a fiduciary with respect to the assets of such Lender involved in such Lender’s entrance
into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement
(including in connection with the reservation or exercise of any rights by the Administrative Agent under this Agreement, any
Loan Document or any documents related hereto or thereto).

 

ARTICLE
X. MISCELLANEOUS

 

10.01      
Amendments, Etc. NoSubject
to Section 3.03(c), no amendment or waiver of any provision of this Agreement or any
other Loan Document, and no consent to any departure by the Borrower or any other Loan Party therefrom, shall be effective unless
in writing signed by the Required Lenders and the Borrower or the applicable Loan Party, as the case may be, and acknowledged by
the Administrative Agent, and each such waiver or consent shall be effective only in the specific instance and for the specific
purpose for which given; provided, however, that no such amendment, waiver or consent shall:

 

(a)              
waive any condition set forth in Section 4.01(a) without the written consent of each Lender;

 

(b)              
extend or increase the Commitment of any Lender (or reinstate any Commitment terminated pursuant to Section 8.02)
without the written consent of such Lender;

 

(c)              
postpone any date fixed by this Agreement or any other Loan Document for any payment of principal, interest, fees
or other amounts due to the Lenders (or any of them) hereunder or under any other Loan Document without the written consent of
each Lender directly affected thereby;

 

(d)              
reduce the principal of, or the rate of interest specified herein on, any Loan or L/C Borrowing, or (subject to clause
(iv) of the second proviso to this Section 10.01) any fees or other amounts payable hereunder or under any other Loan
Document without the written consent of each Lender directly affected thereby; provided, however, that only the consent
of the Required Lenders shall be necessary (i) to amend the definition of “Default Rate” or to waive any obligation
of the Borrower to pay interest or Letter of Credit Fees at the Default Rate or (ii) to amend any financial covenant hereunder
(or any defined term used therein) even if the effect of such amendment would be to reduce the rate of interest on any Loan or
L/C Borrowing or to reduce any fee payable hereunder;

 

    96

     

    

 

(e)              
change Section 8.03 in a manner that would alter the pro rata sharing of payments required thereby
without the written consent of each Lender;

 

(f)               
change any provision of this Section or the definition of “Required Lenders” or any other provision hereof
specifying the number or percentage of Lenders required to amend, waive or otherwise modify any rights hereunder or make any determination
or grant any consent hereunder, without the written consent of each Lender; or

 

(g)              
except in accordance with Section 9.10, release all or substantially all of the value of the Guaranty without
the written consent of each Lender;

 

and, provided further, that (i) no
amendment, waiver or consent shall, unless in writing and signed by the L/C Issuer in addition to the Lenders required above, affect
the rights or duties of the L/C Issuer under this Agreement or any Issuer Document relating to any Letter of Credit issued or to
be issued by it; (ii) no amendment, waiver or consent shall, unless in writing and signed by the Swing Line Lender in addition
to the Lenders required above, affect the rights or duties of the Swing Line Lender under this Agreement; (iii) no amendment,
waiver or consent shall, unless in writing and signed by the Administrative Agent in addition to the Lenders required above, affect
the rights or duties of the Administrative Agent under this Agreement or any other Loan Document; and (iv) the Fee Letter may be
amended, or rights or privileges thereunder waived, in a writing executed only by the parties thereto. Notwithstanding anything
to the contrary herein, no Defaulting Lender shall have any right to approve or disapprove any amendment, waiver or consent hereunder
(and any amendment, waiver or consent which by its terms requires the consent of all Lenders or each affected Lender may be effected
with the consent of the applicable Lenders other than Defaulting Lenders), except that (x) the Commitment of any Defaulting
Lender may not be increased or extended without the consent of such Lender and (y) any waiver, amendment or modification requiring
the consent of all Lenders or each affected Lender that by its terms affects any Defaulting Lender more adversely than other affected
Lenders shall require the consent of such Defaulting Lender.

 

10.02       
Notices; Effectiveness; Electronic Communication.

 

(a)              
Notices Generally. Except in the case of notices and other communications expressly permitted to be given
by telephone (and except as provided in subsection (b) below), all notices and other communications provided for herein shall
be in writing and shall be delivered by hand or overnight courier service, mailed by certified or registered mail or sent by telecopierfacsimile
or electronic mail as follows, and all notices and other communications expressly permitted hereunder to be given by
telephone shall be made to the applicable telephone number, as follows:

 

    97

     

    

 

(i)               
if to the Borrower, the Administrative Agent, the L/C Issuer or the Swing Line Lender, to the address, telecopier
number, electronic mail address or telephone number specified for such Person on Schedule 10.02; and

 

(ii)             
if to any other Lender, to the address, telecopier number, electronic mail address or telephone number specified
in its Administrative Questionnaire (including, as appropriate, notices delivered solely to the Person designated by a Lender on
its Administrative Questionnaire then in effect for the delivery of notices that may contain material non-public information relating
to the Borrower).

 

Notices and other communications sent by
hand or overnight courier service, or mailed by certified or registered mail, shall be deemed to have been given when received;
notices and other communications sent by telecopier shall be deemed to have been given when sent (except that, if not given during
normal business hours for the recipient, shall be deemed to have been given at the opening of business on the next business day
for the recipient). Notices and other communications delivered through electronic communications to the extent provided in subsection (b)
below, shall be effective as provided in such subsection (b).

 

(b)              
Electronic Communications. Notices and other communications to the Lenders and the L/C Issuer hereunder may
be delivered or furnished by electronic communication (including e-mail and internet or intranet websites including IntraLinks
or another similar electronic system (the “Platform”)) pursuant to procedures approved by the Administrative
Agent, provided that the foregoing shall not apply to notices to any Lender or the L/C Issuer pursuant to Article II
if such Lender or the L/C Issuer, as applicable, has notified the Administrative Agent that it is incapable of receiving notices
under such Article by electronic communication. The Administrative Agent or the Borrower may, in its discretion, agree to accept
notices and other communications to it hereunder by electronic communications pursuant to procedures approved by it, provided
that approval of such procedures may be limited to particular notices or communications.

 

Unless the Administrative
Agent otherwise prescribes, (i) notices and other communications sent to an e-mail address shall be deemed received upon the
sender’s receipt of an acknowledgement from the intended recipient (such as by the “return receipt requested”
function, as available, return e-mail or other written acknowledgement), provided that if such notice or other communication
is not sent during the normal business hours of the recipient, such notice or communication shall be deemed to have been sent at
the opening of business on the next business day for the recipient, and (ii) notices or communications posted to an Internet
or intranet website shall be deemed received upon the deemed receipt by the intended recipient at its e-mail address as described
in the foregoing clause (i) of notification that such notice or communication is available and identifying the website address
therefor.

 

(c)              
The Platform. THE PLATFORM IS PROVIDED “AS IS” AND “AS AVAILABLE.” THE AGENT
PARTIES (AS DEFINED BELOW) DO NOT WARRANT THE ACCURACY OR COMPLETENESS OF THE BORROWER MATERIALS OR THE ADEQUACY OF THE PLATFORM,
AND EXPRESSLY DISCLAIM LIABILITY FOR ERRORS IN OR OMISSIONS FROM THE BORROWER MATERIALS. NO WARRANTY OF ANY KIND, EXPRESS, IMPLIED
OR STATUTORY, INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF THIRD PARTY RIGHTS
OR FREEDOM FROM VIRUSES OR OTHER CODE DEFECTS, IS MADE BY ANY AGENT PARTY IN CONNECTION WITH THE BORROWER MATERIALS OR THE PLATFORM.
In no event shall the Administrative Agent or any of its Related Parties (collectively, the “Agent Parties”)
have any liability to the Borrower, any Lender, the L/C Issuer or any other Person for losses, claims, damages, liabilities or
expenses of any kind (whether in tort, contract or otherwise) arising out of the Borrower’s or the Administrative Agent’s
transmission of Borrower Materials through the internet, except to the extent that such losses, claims, damages, liabilities or
expenses are determined by a court of competent jurisdiction by a final and nonappealable judgment to have resulted from the gross
negligence or willful misconduct of such Agent Party; provided, however, that in no event shall any Agent Party have
any liability to the Borrower, any Lender, the L/C Issuer or any other Person for indirect, special, incidental, consequential
or punitive damages (as opposed to direct or actual damages).

 

    98

     

    

 

(d)            
Change of Address, Etc. Each of the Borrower, the Administrative Agent, the L/C Issuer and the Swing Line
Lender may change its address, telecopier or telephone number for notices and other communications hereunder by notice to the other
parties hereto. Each other Lender may change its address, telecopier or telephone number for notices and other communications hereunder
by notice to the Borrower, the Administrative Agent, the L/C Issuer and the Swing Line Lender. In addition, each Lender agrees
to notify the Administrative Agent from time to time to ensure that the Administrative Agent has on record (i) an effective
address, contact name, telephone number, telecopier number and electronic mail address to which notices and other communications
may be sent and (ii) accurate wire instructions for such Lender. Furthermore,
each Public Lender agrees to cause at least one individual at or on behalf of such Public Lender to at all times have selected
the “Private Side Information” or similar designation on the content declaration screen of the Platform in order to
enable such Public Lender or its delegate, in accordance with such Public Lender’s compliance procedures and Applicable Law,
including United States Federal and state securities Laws, to make reference to Borrower Materials that are not made available
through the “Public Side Information” portion of the Platform and that may contain material non-public information
with respect to the Borrower or its securities for purposes of United States Federal or state securities laws.

 

(e)             
Reliance by Administrative Agent, L/C Issuer and Lenders. The Administrative Agent, the L/C Issuer and the
Lenders shall be entitled to rely and act upon any notices (including telephonic Committed Loan Notices and Swing Line Loan Notices)
purportedly given by or on behalf of the Borrower even if (i) such notices were not made in a manner specified herein, were
incomplete or were not preceded or followed by any other form of notice specified herein, or (ii) the terms thereof, as understood
by the recipient, varied from any confirmation thereof. The Borrower shall indemnify the Administrative Agent, the L/C Issuer,
each Lender and the Related Parties of each of them from all losses, costs, expenses and liabilities resulting from the reliance
by such Person on each notice purportedly given by or on behalf of the Borrower. All telephonic notices to and other telephonic
communications with the Administrative Agent may be recorded by the Administrative Agent, and each of the parties hereto hereby
consents to such recording.

 

    99

     

    

 

10.03       
No Waiver; Cumulative Remedies; Enforcement. No failure by any Lender,
the L/C Issuer or the Administrative Agent to exercise, and no delay by any such Person in exercising, any right, remedy, power
or privilege hereunder shall operate as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power
or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege.
The rights, remedies, powers and privileges herein provided are cumulative and not exclusive of any rights, remedies, powers and
privileges provided by law.

 

Notwithstanding anything
to the contrary contained herein or in any other Loan Document, the authority to enforce rights and remedies hereunder and under
the other Loan Documents against the Loan Parties or any of them shall be vested exclusively in, and all actions and proceedings
at law in connection with such enforcement shall be instituted and maintained exclusively by, the Administrative Agent in accordance
with Section 8.02 for the benefit of all the Lenders and the L/C Issuer; provided, however, that the
foregoing shall not prohibit (a) the Administrative Agent from exercising on its own behalf the rights and remedies that inure
to its benefit (solely in its capacity as Administrative Agent) hereunder and under the other Loan Documents, (b) the L/C
Issuer or the Swing Line Lender from exercising the rights and remedies that inure to its benefit (solely in its capacity as L/C
Issuer or Swing Line Lender, as the case may be) hereunder and under the other Loan Documents, (c) any Lender from exercising
setoff rights in accordance with Section 10.08 (subject to the terms of Section 2.14), or (d) any
Lender from filing proofs of claim or appearing and filing pleadings on its own behalf during the pendency of a proceeding relative
to any Loan Party under any Debtor Relief Law; and provided, further, that if at any time there is no Person acting
as Administrative Agent hereunder and under the other Loan Documents, then (i) the Required Lenders shall have the rights
otherwise ascribed to the Administrative Agent pursuant to Section 8.02 and (ii) in addition to the matters set
forth in clauses (b), (c) and (d) of the preceding proviso and subject to Section 2.14, any Lender may,
with the consent of the Required Lenders, enforce any rights and remedies available to it and as authorized by the Required Lenders.

 

10.04       
Expenses; Indemnity; Damage Waiver.

 

(a)              
Costs and Expenses. The Borrower shall pay (i) all reasonable out-of-pocket expenses incurred by the
Administrative Agent and its Affiliates (including the reasonable fees, charges and disbursements of counsel for the Administrative
Agent), in connection with the syndication of the credit facilities provided for herein, the preparation, negotiation, execution,
delivery and administration of this Agreement and the other Loan Documents or any amendments, modifications or waivers of the provisions
hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii) all reasonable
out-of-pocket expenses incurred by the L/C Issuer in connection with the issuance, amendment, renewal or extension of any Letter
of Credit or any demand for payment thereunder and (iii) all reasonable out-of-pocket expenses incurred by the Administrative
Agent, any Lender or the L/C Issuer (including the reasonable fees, charges and disbursements of any counsel for the Administrative
Agent, any Lender or the L/C Issuer), and shall pay all fees and time charges for attorneys who may be employees of the Administrative
Agent, any Lender or the L/C Issuer, in connection with the enforcement or protection of its rights (A) in connection with
this Agreement and the other Loan Documents, including its rights under this Section, or (B) in connection with the Loans
made or Letters of Credit issued hereunder, including all such out-of-pocket expenses incurred during any workout, restructuring
or negotiations in respect of such Loans or Letters of Credit.

 

    100

     

    

 

 

(b)              
Indemnification by the Borrower. The Borrower shall indemnify the Administrative Agent (and any sub-agent
thereof), each Lender and the L/C Issuer, and each Related Party of any of the foregoing Persons (each such Person being called
an “Indemnitee”) against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities
and related expenses (including the reasonable fees, charges and disbursements of any counsel for any Indemnitee), incurred
by any Indemnitee or asserted against any Indemnitee by any third party or by the Borrower or any other Loan Party arising out
of, in connection with, or as a result of (i) the execution or delivery of this Agreement, any other Loan Document or any
agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder
or thereunder, the consummation of the transactions contemplated hereby or thereby, or, in the case of the Administrative Agent
(and any sub-agent thereof) and its Related Parties only, the administration of this Agreement and the other Loan Documents (including
in respect of any matters addressed in Section 3.01), (ii) any Loan or Letter of Credit or the use or proposed
use of the proceeds therefrom (including any refusal by the L/C Issuer to honor a demand for payment under a Letter of Credit if
the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any
actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrower or any of
its Subsidiaries, or any Environmental Liability related in any way to the Borrower or any of its Subsidiaries, or (iv) any
actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract,
tort or any other theory, whether brought by a third party or by the Borrower or any other Loan Party, and regardless of whether
any Indemnitee is a party thereto; provided that such indemnity shall not, as to any Indemnitee, be available to the extent
that such losses, claims, damages, liabilities or related expenses (x) are determined by a court of competent jurisdiction
by final and nonappealable judgment to have resulted from the gross negligence or willful misconduct of such Indemnitee or (y) result
from a claim brought by the Borrower or any other Loan Party against an Indemnitee for breach in bad faith of such Indemnitee’s
obligations hereunder or under any other Loan Document, if the Borrower or such other Loan Party has obtained a final and nonappealable
judgment in its favor on such claim as determined by a court of competent jurisdiction.

 

(c)              
Reimbursement by Lenders. To the extent that the Borrower for any reason fails to indefeasibly pay any amount
required under subsection (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent
thereof), the L/C Issuer or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative
Agent (or any such sub-agent), the L/C Issuer or such Related Party, as the case may be, such Lender’s Applicable Percentage
(determined as of the time that the applicable unreimbursed expense or indemnity payment is sought) of such unpaid amount, provided
that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred
by or asserted against the Administrative Agent (or any such sub-agent) or the L/C Issuer in its capacity as such, or against any
Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent) or L/C Issuer in connection with
such capacity. The obligations of the Lenders under this subsection (c) are subject to the provisions of Section 2.13(d).

 

 

    101

     

     

(d)              
Waiver of Consequential Damages, Etc. To the fullest extent permitted by applicable law, the Borrower shall
not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential
or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement,
any other Loan Document or any agreement or instrument contemplated hereby, the transactions contemplated hereby or thereby, any
Loan or Letter of Credit or the use of the proceeds thereof. No Indemnitee referred to in subsection (b) above shall be liable
for any damages arising from the use by unintended recipients of any information or other materials distributed to such unintended
recipients by such Indemnitee through telecommunications, electronic or other information transmission systems in connection with
this Agreement or the other Loan Documents or the transactions contemplated hereby or thereby other than for direct or actual damages
resulting from the gross negligence or willful misconduct of such Indemnitee as determined by a final and nonappealable judgment
of a court of competent jurisdiction.

 

(e)              
Payments. All amounts due under this Section shall be payable not later than ten Business Days after demand
therefor.

 

(f)               
Survival. The agreements in this Section shall survive the resignation of the Administrative Agent, the L/C
Issuer and the Swing Line Lender, the replacement of any Lender, the termination of the Aggregate Commitments and the repayment,
satisfaction or discharge of all the other Obligations.

 

10.05     
Payments Set Aside. To the extent that any payment by or on behalf of the Borrower is made to the Administrative
Agent, the L/C Issuer or any Lender, or the Administrative Agent, the L/C Issuer or any Lender exercises its right of setoff, and
such payment or the proceeds of such setoff or any part thereof is subsequently invalidated, declared to be fraudulent or preferential,
set aside or required (including pursuant to any settlement entered into by the Administrative Agent, the L/C Issuer or such Lender
in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any proceeding under any Debtor Relief
Law or otherwise, then (a) to the extent of such recovery, the obligation or part thereof originally intended to be satisfied
shall be revived and continued in full force and effect as if such payment had not been made or such setoff had not occurred, and
(b) each Lender and the L/C Issuer severally agrees to pay to the Administrative Agent upon demand its applicable share (without
duplication) of any amount so recovered from or repaid by the Administrative Agent, plus interest thereon from the date of such
demand to the date such payment is made at a rate per annum equal to the Federal Funds Rate from time to time in effect. The obligations
of the Lenders and the L/C Issuer under clause (b) of the preceding sentence shall survive the payment in full of the Obligations
and the termination of this Agreement.

 

10.06     
Successors and Assigns.

 

(a)              
Successors and Assigns Generally. The provisions of this Agreement shall be binding upon and inure to the
benefit of the parties hereto and their respective successors and assigns permitted hereby, except that neither the Borrower nor
any other Loan Party may assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent
of the Administrative Agent and each Lender and no Lender may assign or otherwise transfer any of its rights or obligations hereunder
except (i) to an assignee in accordance with the provisions of subsection (b) of this Section, (ii) by way of participation
in accordance with the provisions of subsection (d) of this Section, or (iii) by way of pledge or assignment of a security
interest subject to the restrictions of subsection (f) of this Section (and any other attempted assignment or transfer by
any party hereto shall be null and void). Nothing in this Agreement, expressed or implied, shall be construed to confer upon any
Person (other than the parties hereto, their respective successors and assigns permitted hereby, Participants to the extent provided
in subsection (d) of this Section and, to the extent expressly contemplated hereby, the Related Parties of each of the Administrative
Agent, the L/C Issuer and the Lenders) any legal or equitable right, remedy or claim under or by reason of this Agreement.

 

 

    102

     

     

(b)              
Assignments by Lenders. Any Lender may at any time assign to one or more assignees all or a portion of its
rights and obligations under this Agreement (including all or a portion of its Commitment and the Loans (including for purposes
of this subsection (b), participations in L/C Obligations and in Swing Line Loans) at the time owing to it); provided
that any such assignment shall be subject to the following conditions:

 

(i)                
Minimum Amounts.

 

(A)            
in the case of an assignment of the entire remaining amount of the assigning Lender’s Commitment and the Loans
at the time owing to it or in the case of an assignment to a Lender, an Affiliate of a Lender or an Approved Fund, no minimum amount
need be assigned; and

 

(B)             
in any case not described in subsection (b)(i)(A) of this Section, the aggregate amount of the Commitment (which
for this purpose includes Loans outstanding thereunder) or, if the Commitment is not then in effect, the principal outstanding
balance of the Loans of the assigning Lender subject to each such assignment, determined as of the date the Assignment and Assumption
with respect to such assignment is delivered to the Administrative Agent or, if “Trade Date” is specified in the Assignment
and Assumption, as of the Trade Date, shall not be less than $5,000,000 unless each of the Administrative Agent and, so long as
no Event of Default has occurred and is continuing, the Borrower otherwise consents (each such consent not to be unreasonably withheld
or delayed); provided, however, that concurrent assignments to members of an Assignee Group and concurrent assignments
from members of an Assignee Group to a single Eligible Assignee (or to an Eligible Assignee and members of its Assignee Group)
will be treated as a single assignment for purposes of determining whether such minimum amount has been met.

 

(ii)             
Proportionate Amounts. Each partial assignment shall be made as an assignment of a proportionate part of all
the assigning Lender’s rights and obligations under this Agreement with respect to the Loans or the Commitment assigned,
except that this clause (ii) shall not apply to rights in respect of the Swing Line Lender’s rights and obligations
in respect of Swing Line Loans;

 

 

    103

     

     

(iii)             Required
Consents. No consent shall be required for any assignment except to the extent required by subsection (b)(i)(B)
of this Section and, in addition:

 

(A)            
the consent of the Borrower (such consent not to be unreasonably withheld) shall be required unless (1) an Event
of Default has occurred and is continuing at the time of such assignment or (2) such assignment is to a Lender, an Affiliate
of a Lender or an Approved Fund; provided that the Borrower shall be deemed to have consented to any such assignment unless
it shall object thereto by written notice to the Administrative Agent within five (5) Business Days after having received
notice thereof;

 

(B)             
the consent of the Administrative Agent (such consent not to be unreasonably withheld or delayed) shall be required
if such assignment is to a Person that is not a Lender, an Affiliate of such Lender or an Approved Fund with respect to such Lender;

 

(C)             
the consent of the L/C Issuer (such consent not to be unreasonably withheld or delayed) shall be required for any
assignment that increases the obligation of the assignee to participate in exposure under one or more Letters of Credit (whether
or not then outstanding); and

 

(D)            
the consent of the Swing Line Lender (such consent not to be unreasonably withheld or delayed) shall be required
for any assignment.

 

(iv)             Assignment
and Assumption. The parties to each assignment shall execute and deliver to the Administrative Agent an Assignment and Assumption,
together with a processing and recordation fee in the amount of $3,500; provided, however, that the Administrative
Agent may, in its sole discretion, elect to waive such processing and recordation fee in the case of any assignment. The assignee,
if it is not a Lender, shall deliver to the Administrative Agent an Administrative Questionnaire.

 

(v)              No
Assignment to Certain Persons. No such assignment shall be made (A) to the Borrower or any of the Borrower’s Affiliates
or Subsidiaries, or (B) to any Defaulting Lender or any of its Subsidiaries, or any Person who, upon becoming a Lender hereunder,
would constitute any of the foregoing Persons described in this clause (B), or (C) to a natural person.

 

(vi)            
Certain Additional Payments. In connection with any assignment of rights and obligations of any Defaulting
Lender hereunder, no such assignment shall be effective unless and until, in addition to the other conditions thereto set forth
herein, the parties to the assignment shall make such additional payments to the Administrative Agent in an aggregate amount sufficient,
upon distribution thereof as appropriate (which may be outright payment, purchases by the assignee of participations or subparticipations,
or other compensating actions, including funding, with the consent of the Borrower and the Administrative Agent, the applicable
pro rata share of Loans previously requested but not funded by the Defaulting Lender, to each of which the applicable assignee
and assignor hereby irrevocably consent), to (x) pay and satisfy in full all payment liabilities then owed by such Defaulting
Lender to the Administrative Agent or any Lender hereunder (and interest accrued thereon) and (y) acquire (and fund as appropriate)
its full pro rata share of all Loans and participations in Letters of Credit and Swing Line Loans in accordance with its Applicable
Percentage. Notwithstanding the foregoing, in the event that any assignment of rights and obligations of any Defaulting Lender
hereunder shall become effective under applicable Law without compliance with the provisions of this paragraph, then the assignee
of such interest shall be deemed to be a Defaulting Lender for all purposes of this Agreement until such compliance occurs.

 

 

    104

     

     

Subject to acceptance and recording thereof
by the Administrative Agent pursuant to subsection (c) of this Section, from and after the effective date specified in each
Assignment and Assumption, the assignee thereunder shall be a party to this Agreement and, to the extent of the interest assigned
by such Assignment and Assumption, have the rights and obligations of a Lender under this Agreement, and the assigning Lender thereunder
shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its obligations under this Agreement
(and, in the case of an Assignment and Assumption covering all of the assigning Lender’s rights and obligations under this
Agreement, such Lender shall cease to be a party hereto) but shall continue to be entitled to the benefits of Sections 3.01,
3.04, 3.05, and 10.04 with respect to facts and circumstances occurring prior to the effective date of such
assignment. Upon request, the Borrower (at its expense) shall execute and deliver a Note to the assignee Lender. Any assignment
or transfer by a Lender of rights or obligations under this Agreement that does not comply with this subsection shall be treated
for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with subsection (d)
of this Section.

 

(c)              
Register. The Administrative Agent, acting solely for this purpose as an agent of the Borrower (and such agency
being solely for tax purposes), shall maintain at the Administrative Agent’s Office a copy of each Assignment and Assumption
delivered to it and a register for the recordation of the names and addresses of the Lenders, and the Commitments of, and principal
amounts (and stated interest) of the Loans and L/C Obligations owing to, each Lender pursuant
to the terms hereof from time to time (the “Register”). The entries in the Register shall be conclusive, and
the Borrower, the Administrative Agent and the Lenders may treat each Person whose name is recorded in the Register pursuant to
the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. In addition,
the Administrative Agent shall maintain on the Register information regarding the designation, and revocation of designation, of
any Lender as a Defaulting Lender. The Register shall be
available for inspection by the Borrower and any Lender, at any reasonable time and from time to time upon reasonable prior notice.

 

(d)              
Participations. Any Lender may at any time, without the consent of, or notice to, the Borrower or the Administrative
Agent, sell participations to any Person (other than a natural person, a Defaulting Lender or the Borrower or any of the Borrower’s
Affiliates or Subsidiaries) (each, a “Participant”) in all or a portion of such Lender’s rights and/or
obligations under this Agreement (including all or a portion of its Commitment and/or the Loans (including such Lender’s
participations in L/C Obligations and/or Swing Line Loans) owing to it); provided that (i) such Lender’s obligations
under this Agreement shall remain unchanged, (ii) such Lender shall remain solely responsible to the other parties hereto
for the performance of such obligations and (iii) the Borrower, the Administrative Agent, the Lenders and the L/C Issuer shall
continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under this
Agreement.

 

 

    105

     

     

Any agreement or instrument
pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce this
Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; provided that such agreement
or instrument may provide that such Lender will not, without the consent of the Participant, agree to any amendment, waiver or
other modification described in the first proviso to Section 10.01 that affects such Participant. Subject to subsection (e)
of this Section, the Borrower agrees that each Participant shall be entitled to the benefits of Sections 3.01, 3.04
and 3.05 to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to subsection (b)
of this Section. To the extent permitted by law, each Participant also shall be entitled to the benefits of Section 10.08
as though it were a Lender, provided such Participant agrees to be subject to Section 2.14 as though it were
a Lender.

 

(e)              
Limitations upon Participant Rights. A Participant shall not be entitled to receive any greater payment under
Section 3.01 or 3.04 than the applicable Lender would have been entitled to receive with respect to the participation
sold to such Participant, unless the sale of the participation to such Participant is made with the Borrower’s prior written
consent. A Participant that would be a Foreign Lender if it were a Lender shall not be entitled to the benefits of Section 3.01
unless the Borrower is notified of the participation sold to such Participant and such Participant agrees, for the benefit of the
Borrower, to comply with Section 3.01(e) as though it were a Lender.

 

(f)               
Certain Pledges. Any Lender may at any time pledge or assign a security interest in all or any portion of
its rights under this Agreement (including under its Note, if any) to secure obligations of such Lender, including any pledge or
assignment to secure obligations to a Federal Reserve Bank; provided that no such pledge or assignment shall release such
Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto.

 

(g)              
Resignation as L/C Issuer or Swing Line Lender after Assignment. Notwithstanding anything to the contrary
contained herein, if at any time Bank of America assigns all of its Commitment and Loans pursuant to subsection (b) above,
Bank of America may, (i) upon 30 days’ notice to the Borrower and the Lenders, resign as L/C Issuer and/or (ii) upon
30 days’ notice to the Borrower, resign as Swing Line Lender. In the event of any such resignation as L/C Issuer or Swing
Line Lender, the Borrower shall be entitled to appoint from among the Lenders a successor L/C Issuer or Swing Line Lender hereunder;
provided, however, that no failure by the Borrower to appoint any such successor shall affect the resignation of
Bank of America as L/C Issuer or Swing Line Lender, as the case may be. If Bank of America resigns as L/C Issuer, it shall retain
all the rights, powers, privileges and duties of the L/C Issuer hereunder with respect to all Letters of Credit outstanding as
of the effective date of its resignation as L/C Issuer and all L/C Obligations with respect thereto (including the right to require
the Lenders to make Base Rate Committed Loans or fund risk participations in Unreimbursed Amounts pursuant to Section 2.04(c)).
If Bank of America resigns as Swing Line Lender, it shall retain all the rights of the Swing Line Lender provided for hereunder
with respect to Swing Line Loans made by it and outstanding as of the effective date of such resignation, including the right to
require the Lenders to make Base Rate Committed Loans or fund risk participations in outstanding Swing Line Loans pursuant to Section 2.05(c).
Upon the appointment of a successor L/C Issuer and/or Swing Line Lender, (a) such successor shall succeed to and become vested
with all of the rights, powers, privileges and duties of the retiring L/C Issuer or Swing Line Lender, as the case may be, and
(b) the successor L/C Issuer shall issue letters of credit in substitution for the Letters of Credit, if any, outstanding
at the time of such succession or make other arrangements satisfactory to Bank of America to effectively assume the obligations
of Bank of America with respect to such Letters of Credit.

 

 

    106

     

     

10.07     
Treatment of Certain Information; Confidentiality. Each of the Administrative Agent, the Lenders and the
L/C Issuer agrees to maintain the confidentiality of the Information (as defined below), except that Information may be disclosed
(a) to its Affiliates and to its and its Affiliates’ respective partners, directors, officers, employees, agents, trustees,
advisors and representatives with a need to know (it being understood that the Persons to whom such disclosure is made will be
informed of the confidential nature of such Information and instructed to keep such Information confidential), (b) to the
extent requested by any regulatory authority purporting to have jurisdiction over it (including any self-regulatory authority,
such as the National Association of Insurance Commissioners), (c) to the extent required by applicable laws or regulations
or by any subpoena or similar legal process, (d) to any other party hereto, (e) in connection with the exercise of any
remedies hereunder or under any other Loan Document or any action or proceeding relating to this Agreement or any other Loan Document
or the enforcement of rights hereunder or thereunder, (f) subject to an agreement containing provisions substantially the
same as those of this Section, to (i) any assignee of or Participant in, or any prospective assignee of or Participant in,
any of its rights or obligations under this Agreement or any Eligible Assignee invited to be a Lender pursuant to Section 2.16(c)
or (ii) any actual or prospective counterparty (or its advisors) to any swap or derivative transaction relating to the Borrower
and its obligations, (g) with the consent of the Borrower or (h) to the extent such Information (x) becomes publicly
available other than as a result of a breach of this Section or (y) becomes available to the Administrative Agent, any Lender,
the L/C Issuer or any of their respective Affiliates on a nonconfidential basis from a source other than the Borrower. For purposes
of this Section, “Information” means all information received from the Borrower or any Subsidiary relating to the Borrower
or any Subsidiary or any of their respective businesses, other than any such information that is available to the Administrative
Agent, any Lender or the L/C Issuer on a nonconfidential basis prior to disclosure by the Borrower or any Subsidiary, provided
that, in the case of information received from the Borrower or any Subsidiary after the date hereof, such information is clearly
identified at the time of delivery as confidential. Any Person required to maintain the confidentiality of Information as provided
in this Section shall be considered to have complied with its obligation to do so if such Person has exercised the same degree
of care to maintain the confidentiality of such Information as such Person would accord to its own confidential information.

 

Each of the Administrative
Agent, the Lenders and the L/C Issuer acknowledges that (a) the Information may include material non-public information concerning
the Borrower or a Subsidiary, as the case may be, (b) it has developed compliance procedures regarding the use of material
non-public information and (c) it will handle such material non-public information in accordance with applicable Law, including
United States Federal and state securities Laws.

 

 

    107

     

     

10.08     
Right of Setoff. If an Event of Default shall have occurred and be continuing, each Lender, the L/C Issuer
and each of their respective Affiliates is hereby authorized at any time and from time to time, to the fullest extent permitted
by applicable law, to set off and apply any and all deposits (general or special, time or demand, provisional or final, in whatever
currency) at any time held and other obligations (in whatever currency) at any time owing by such Lender, the L/C Issuer or any
such Affiliate to or for the credit or the account of the Borrower or any other Loan Party against any and all of the obligations
of the Borrower or such Loan Party now or hereafter existing under this Agreement or any other Loan Document to such Lender or
the L/C Issuer, irrespective of whether or not such Lender or the L/C Issuer shall have made any demand under this Agreement or
any other Loan Document and although such obligations of the Borrower or such Loan Party may be contingent or unmatured or are
owed to a branch or office of such Lender or the L/C Issuer different from the branch or office holding such deposit or obligated
on such indebtedness; provided, that in the event that any Defaulting Lender shall exercise any such right of setoff, (x) all
amounts so set off shall be paid over immediately to the Administrative Agent for further application in accordance with the provisions
of Section 2.18 and, pending such payment, shall be segregated by such Defaulting Lender from its other funds and deemed
held in trust for the benefit of the Administrative Agent and the Lenders, and (y) the Defaulting Lender shall provide promptly
to the Administrative Agent a statement describing in reasonable detail the Obligations owing to such Defaulting Lender as to which
it exercised such right of setoff. The rights of each Lender, the L/C Issuer and their respective Affiliates under this Section
are in addition to other rights and remedies (including other rights of setoff) that such Lender, the L/C Issuer or their respective
Affiliates may have. Each Lender and the L/C Issuer agrees to notify the Borrower and the Administrative Agent promptly after any
such setoff and application, provided that the failure to give such notice shall not affect the validity of such setoff
and application.

 

10.09     
Interest Rate Limitation. Notwithstanding anything to the contrary contained in any Loan Document, the
interest paid or agreed to be paid under the Loan Documents shall not exceed the maximum rate of non-usurious interest permitted
by applicable Law (the “Maximum Rate”). If the Administrative Agent or any Lender shall receive interest in
an amount that exceeds the Maximum Rate, the excess interest shall be applied to the principal of the Loans or, if it exceeds such
unpaid principal, refunded to the Borrower. In determining whether the interest contracted for, charged, or received by the Administrative
Agent or a Lender exceeds the Maximum Rate, such Person may, to the extent permitted by applicable Law, (a) characterize any
payment that is not principal as an expense, fee, or premium rather than interest, (b) exclude voluntary prepayments and the
effects thereof, and (c) amortize, prorate, allocate, and spread in equal or unequal parts the total amount of interest throughout
the contemplated term of the Obligations hereunder.

 

10.10     
Counterparts; Integration; Effectiveness. This Agreement may be executed in counterparts (and by different
parties hereto in different counterparts), each of which shall constitute an original, but all of which when taken together shall
constitute a single contract. This Agreement and the other Loan Documents constitute the entire contract among the parties relating
to the subject matter hereof and supersede any and all previous agreements and understandings, oral or written, relating to the
subject matter hereof. Except as provided in Section 4.01, this Agreement shall become effective when it shall have
been executed by the Administrative Agent and when the Administrative Agent shall have received counterparts hereof that, when
taken together, bear the signatures of each of the other parties hereto. Delivery of an executed counterpart of a signature page
of this Agreement by telecopy or other electronic imaging means shall be effective as delivery of a manually executed counterpart
of this Agreement.

 

    108

     

     

10.11     
Survival of Representations and Warranties. All representations and warranties made hereunder and in any
other Loan Document or other document delivered pursuant hereto or thereto or in connection herewith or therewith shall survive
the execution and delivery hereof and thereof. Such representations and warranties have been or will be relied upon by the Administrative
Agent and each Lender, regardless of any investigation made by the Administrative Agent or any Lender or on their behalf and notwithstanding
that the Administrative Agent or any Lender may have had notice or knowledge of any Default at the time of any Credit Extension,
and shall continue in full force and effect as long as any Loan or any other Obligation hereunder shall remain unpaid or unsatisfied
or any Letter of Credit shall remain outstanding.

 

10.12     
Severability. If any provision of this Agreement or the other Loan Documents is held to be illegal, invalid
or unenforceable, (a) the legality, validity and enforceability of the remaining provisions of this Agreement and the other
Loan Documents shall not be affected or impaired thereby and (b) the parties shall endeavor in good faith negotiations to
replace the illegal, invalid or unenforceable provisions with valid provisions the economic effect of which comes as close as possible
to that of the illegal, invalid or unenforceable provisions. The invalidity of a provision in a particular jurisdiction shall not
invalidate or render unenforceable such provision in any other jurisdiction. Without limiting the foregoing provisions of this
Section 10.12, if and to the extent that the enforceability of any provisions in this Agreement relating to Defaulting
Lenders shall be limited by Debtor Relief Laws, as determined in good faith by the Administrative Agent, the L/C Issuer or the
Swing Line Lender, as applicable, then such provisions shall be deemed to be in effect only to the extent not so limited.

 

10.13     
Replacement of Lenders. If any Lender requests compensation under Section 3.04, or if the
Borrower is required to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant
to Section 3.013.06,
or if any Lender is a Defaulting Lender, then the Borrower may, at its sole expense and effort, upon notice to such Lender and
the Administrative Agent, require such Lender to assign and delegate, without recourse (in accordance with and subject to the restrictions
contained in, and consents required by, Section 10.06), all of its interests, rights and obligations under this Agreement
and the related Loan Documents to an assignee that shall assume such obligations (which assignee may be another Lender, if a Lender
accepts such assignment), provided that:

 

(a)              
the Borrower shall have paid to the Administrative Agent the assignment fee specified in Section 10.06(b);

 

(b)              such
Lender shall have received payment of an amount equal to 100% of the outstanding principal of its Loans and L/C Advances, accrued
interest thereon, accrued fees and all other amounts payable to it hereunder and under the other Loan Documents (including any
amounts under Section 3.05) from the assignee (to the extent of such outstanding principal and accrued interest and
fees) or the Borrower (in the case of all other amounts);

 

    109

     

     

(c)              
in the case of any such assignment resulting from a claim for compensation under Section 3.04 or payments
required to be made pursuant to Section 3.01, such assignment will result in a reduction in such compensation or payments
thereafter; and

 

(d)              such
assignment does not conflict with applicable Laws.

 

A Lender shall not
be required to make any such assignment or delegation if, prior thereto, as a result of a waiver by such Lender or otherwise, the
circumstances entitling the Borrower to require such assignment and delegation cease to apply.

 

10.14     
Governing Law; Jurisdiction; Etc.

 

(a)              
GOVERNING LAW. THIS AGREEMENTThis
Agreement and the other Loan Documents and any claims, controversy, dispute or cause of action (whether in contract or tort or
otherwise) based upon, arising out of or relating to this Agreement or any other Loan Document (except, as to any other Loan Document,
as expressly set forth therein) and the transactions contemplated hereby and thereby SHALL BE GOVERNED BY,
AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH,
THE LAWLAWS OF THE STATE OF ILLINOISNEW
YORK (INCLUDING, WITHOUT LIMITATION, SECTION 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW, BUT OTHERWISE WITHOUT REGARD
TO CONFLICTS OF LAW PRINCIPLES THEREOF).

 

(b)              
SUBMISSION TO JURISDICTION. THE BORROWER AND EACH OTHER LOAN PARTY IRREVOCABLY AND UNCONDITIONALLY SUBMITS,
FOR ITSELF AND ITS PROPERTY, TO THE EXCLUSIVE JURISDICTION OFagrees
that it will not commence any action, litigation or proceeding of any kind or description, whether in law or equity, whether in
contract or in tort or otherwise, against the Administrative Agent, any Lender, THE l/c Issuer, or any Related Party of the foregoing
in any way relating to this Agreement or any other Loan Document or the transactions relating hereto or thereto, in any forum other
than THE COURTS OF THE STATE OF ILLINOISNEW
YORK SITTING IN COOKNEW YORK
COUNTY AND OF THE UNITED STATES DISTRICT COURT OF THE NORTHERNSOUTHERN
DISTRICT OF ILLINOISNEW YORK, AND ANY
APPELLATE COURT FROM ANY THEREOF, IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING
TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT, OR FOR RECOGNITION OR ENFORCEMENT OF ANY JUDGMENT,
AND EACH OF THE PARTIES HERETO IRREVOCABLY AND UNCONDITIONALLY SUBMITS TO THE JURISDICTION
OF SUCH COURTS AND AGREES THAT ALL CLAIMS IN RESPECT OF ANY SUCH ACTION, LITIGATION
OR PROCEEDING SHALLMAY BE HEARD AND DETERMINED
IN SUCH ILLINOISNEW YORK STATE COURT OR,
TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, IN SUCH FEDERAL COURT. EACH OF THE PARTIES HERETO
AGREES THAT A FINAL JUDGMENT IN ANY SUCH ACTION, LITIGATION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS
BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW. NOTHING IN THIS AGREEMENT OR IN ANY OTHER LOAN DOCUMENT SHALL AFFECT
ANY RIGHT THAT THE ADMINISTRATIVE AGENT, ANY LENDER OR THE L/C ISSUER MAY OTHERWISE HAVE TO BRING ANY ACTION OR PROCEEDING RELATING
TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT AGAINST THE BORROWER OR ANY OTHER LOAN PARTY OR ITS
PROPERTIES IN THE COURTS OF ANY JURISDICTION.

 

    110

     

     

(c)              WAIVER
OF VENUE. THE BORROWER AND EACH OTHER LOAN
PARTY HERETO IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT
PERMITTED BY APPLICABLE LAW, ANY OBJECTION THAT IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY ACTION OR PROCEEDING
ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT IN ANY COURT REFERRED TO IN PARAGRAPH (B) OF
THIS SECTION. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THE DEFENSE
OF AN INCONVENIENT FORUM TO THE MAINTENANCE OF SUCH ACTION OR PROCEEDING IN ANY SUCH COURT.

 

(d)              SERVICE
OF PROCESS. EACH PARTY HERETO IRREVOCABLY CONSENTS TO SERVICE OF PROCESS IN THE MANNER PROVIDED FOR NOTICES IN SECTION 10.02.
NOTHING IN THIS AGREEMENT WILL AFFECT THE RIGHT OF ANY PARTY HERETO TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE
LAW.

 

10.15     
Waiver of Jury Trial. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY
APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING
TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT
OR ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED,
EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PERSON WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND
(B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS
BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.

 

    111

     

     

10.16     
No Advisory or Fiduciary Responsibility. In connection with all aspects of each transaction contemplated
hereby (including in connection with any amendment, waiver or other modification hereof or of any other Loan Document), the Borrower
and each other Loan Party acknowledges and agrees, and acknowledges its Affiliates’ understanding, that: (i) (A) the
arranging and other services regarding this Agreement provided by the Administrative Agent and the Arrangers are arm’s-length
commercial transactions between the Borrower, each other Loan Party and their respective Affiliates, on the one hand, and the Administrative
Agent and the Arrangers, on the other hand, (B) each of the Borrower and the other Loan Parties has consulted its own legal,
accounting, regulatory and tax advisors to the extent it has deemed appropriate, and (C) the Borrower and each other Loan
Party is capable of evaluating, and understands and accepts, the terms, risks and conditions of the transactions contemplated hereby
and by the other Loan Documents; (ii) (A) the Administrative Agent and, the Arrangers, each is and has been acting solely
as a principal and, except as expressly agreed in writing by the relevant parties, has not been, is not, and will not be acting
as an advisor, agent or fiduciary for the Borrower, any other Loan Party or any of their respective Affiliates, or any other Person
and (B) neither the Administrative Agent nor the Arrangers has any obligation to the Borrower, any other Loan Party or any
of their respective Affiliates with respect to the transactions contemplated hereby except those obligations expressly set forth
herein and in the other Loan Documents; and (iii) the Administrative Agent and the Arrangers and their respective Affiliates
may be engaged in a broad range of transactions that involve interests that differ from those of the Borrower, the other Loan Parties
and their respective Affiliates, and neither the Administrative Agent nor the Arrangers has any obligation to disclose any of such
interests to the Borrower, any other Loan Party or any of their respective Affiliates. To the fullest extent permitted by law,
each of the Borrower and the other Loan Parties hereby waives and releases any claims that it may have against the Administrative
Agent and the Arrangers with respect to any breach or alleged breach of agency or fiduciary duty in connection with any aspect
of any transaction contemplated hereby.

 

10.17     
Electronic Execution of Assignments and Certain Other Documents. The words “delivery,” “execute,”
“execution,” “signed,” “signature,” and words of like import in any Loan Document or any other
document executed in connection herewith shall be deemed to include electronic signatures, the electronic matching of assignment
terms and contract formations on electronic platforms approved by the Administrative Agent, or the keeping of records in electronic
form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature, physical delivery
thereof or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable
Law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures
and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act; provided that notwithstanding
anything contained herein to the contrary neither the Administrative Agent, the L/C Issuer nor any Lender is under any obligation
to agree to accept electronic signatures in any form or in any format unless expressly agreed to by the Administrative Agent, the
L/C Issuer or such Lender pursuant to procedures approved by it and provided further without limiting the foregoing, upon
the request of any party, any electronic signature shall be promptly followed by such manually executed counterpart.

 

10.18     
USA PATRIOT Act. Each Lender that is subject to the Act (as hereinafter defined) and the Administrative
Agent (for itself and not on behalf of any Lender) hereby notifies the Borrower that pursuant to the requirements of the USA PATRIOT
Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)) (the “Act”), it is
required to obtain, verify and record information that identifies the Borrower, which information includes the name and address
of the Borrower and other information that will allow such Lender or the Administrative Agent, as applicable, to identify the Borrower
in accordance with the Act. The Borrower shall, promptly following a request by the Administrative Agent or any Lender, provide
all documentation and other information that the Administrative Agent or such Lender requests in order to comply with its ongoing
obligations under applicable “know your customer” and anti-money laundering rules and regulations, including the Act.

 

    112

     

     

10.19     
Acknowledgement and Consent to Bail-In of EEA Financial Institutions.
Solely to the extent any Lender or L/C Issuer that is an EEA Financial Institution is a party to this Agreement and notwithstanding
anything to the contrary in any Loan Document or in any other agreement, arrangement or understanding among any such parties, each
party hereto acknowledges that any liability of any Lender or L/C Issuer that is an EEA Financial Institution arising under any
Loan Document, to the extent such liability is unsecured, may be subject to the write-down and conversion powers of an EEA Resolution
Authority and agrees and consents to, and acknowledges and agrees to be bound by:

 

 

(a)              
the application of any Write-Down and Conversion Powers by an EEA Resolution Authority to any such liabilities arising
hereunder which may be payable to it by any Lender or L/C Issuer that is an EEA Financial Institution; and

 

(b)              
the effects of any Bail-In Action on any such liability, including, if applicable:

 

(i)               a
reduction in full or in part or cancellation of any such liability;

 

(ii)             
a conversion of all, or a portion of, such liability into shares or other instruments of ownership in such EEA Financial
Institution, its parent undertaking, or a bridge institution that may be issued to it or otherwise conferred on it, and that such
shares or other instruments of ownership will be accepted by it in lieu of any rights with respect to any such liability under
this Agreement or any other Loan Document; or

 

(iii)           
the variation of the terms of such liability in connection with the exercise of the write-down and conversion powers
of any EEA Resolution Authority.

 

10.20     
Acknowledgement Regarding Any Supported QFCs. To the extent that the
Loan Documents provide support, through a guarantee or otherwise, for any swap agreement or any other agreement or instrument that
is a QFC (such support, “QFC Credit Support”, and each such QFC, a “Supported QFC”), the parties acknowledge
and agree as follows with respect to the resolution power of the Federal Deposit Insurance Corporation under the Federal Deposit
Insurance Act and Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act (together with the regulations promulgated
thereunder, the “U.S. Special Resolution Regimes”) in respect of such Supported QFC and QFC Credit Support (with the
provisions below applicable notwithstanding that the Loan Documents and any Supported QFC may in fact be stated to be governed
by the laws of the State of New York and/or of the United States
or any other state of the United States): 

 

    113

     

     

(a)       In
the event a Covered Entity that is party to a Supported QFC (each, a “Covered Party”) becomes subject to a proceeding
under a U.S. Special Resolution Regime, the transfer of such Supported QFC and the benefit of such QFC Credit Support (and any
interest and obligation in or under such Supported QFC and such QFC Credit Support, and any rights in property securing such Supported
QFC or such QFC Credit Support) from such Covered Party will be effective to the same extent as the transfer would be effective
under the U.S. Special Resolution Regime if the Supported QFC and such QFC Credit Support (and any such interest, obligation and
rights in property) were governed by the laws of the United States or a state of the United States. In the event a Covered Party
or a BHC Act Affiliate of a Covered Party becomes subject to a proceeding under a U.S. Special Resolution Regime, Default Rights
under the Loan Documents that might otherwise apply to such Supported QFC or any QFC Credit Support that may be exercised against
such Covered Party are permitted to be exercised to no greater extent than such Default Rights could be exercised under the U.S.
Special Resolution Regime if the Supported QFC and the Loan Documents were governed by the laws of the United States or a state
of the United States. Without limitation of the foregoing, it is understood and agreed that rights and remedies of the parties
with respect to a Defaulting Lender shall in no event affect the rights of any Covered Party with respect to a Supported QFC or
any QFC Credit Support. 

  

(b)       As
used in this Section 10.20, the following terms have the following meanings:

 

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

 

“Covered
Entity” means any of the following: (i) a “covered entity” as that term is defined in, and interpreted in accordance
with, 12 C.F.R. § 252.82(b); (ii) a “covered bank” as that term is defined in, and interpreted in accordance with,
12 C.F.R. § 47.3(b); or (iii) a “covered FSI” as that term is defined in, and interpreted in accordance with,
12 C.F.R. § 382.2(b).

 

“Default
Right” has the meaning assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R. §§ 252.81,
47.2 or 382.1, as applicable.

 

“QFC”
has the meaning assigned to the term “qualified financial contract” in, and shall be interpreted in accordance with,
12 U.S.C. 5390(c)(8)(D).

 

    114

     

     

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

 

[Signature Pages on File
with Administrative Agent]

 

     

     

    

 

EXHIBIT B

 

Schedule 2.01 Commitments

 

	Lender	 	Revolving Commitment
 Amount	 
	 	 	 	 
	Bank of America, N.A.	 	$	125,000,000.00	 
	Wells Fargo Bank, N.A.	 	$	125,000,000.00	 
	Citibank, N.A.	 	$	75,000,000.00	 
	SunTrust Bank	 	$	75,000,000.00	 
	U.S. Bank National Association	 	$	50,000,000.00	 
	PNC Bank, National Association	 	$	50,000,000.00	 
	HSBC Bank USA, National Association	 	$	40,000,000.00	 
	CIBC BANK USA	 	$	30,000,000.00	 
	Associated Bank, National Association	 	$	30,000,000.00	 
	TOTAL	 	$	600,000,000.00	 

 

    

     

     

EXHIBIT C

 

Consent, Amendment and Reaffirmation

 

Each of the undersigned
(the “Guarantors”) hereby acknowledges receipt of a copy of the foregoing Amendment No. 9 to Credit Agreement,
dated as of the date hereof (the “Amendment”) by and among AAR Corp. (the “Borrower”), the
financial institutions party thereto (the “Lenders”), Bank of America, N.A., as Administrative Agent (the “Administrative
Agent”), Wells Fargo Bank, N.A., as Syndication Agent, and Citibank, N.A. and SunTrust Bank, as Co-Documentation Agents,
amending that certain Credit Agreement, dated as of April 12, 2011 (as the same has been or may be amended, restated, supplemented
or otherwise modified prior to the date hereof, the “Existing Credit Agreement”, and, as amended by this Amendment,
the “Amended Credit Agreement”), by and among the Borrower, the Administrative Agent, the Lenders from time
to time party thereto, Wells Fargo Bank, N.A., as Syndication Agent, and Citibank, N.A. and SunTrust Bank, N.A., as Co-Documentation
agents. Capitalized terms used herein and not otherwise defined herein shall have the meanings ascribed to such terms in the Amended
Credit Agreement.

 

Reference is hereby
made to that certain Guaranty, dated as of April 12, 2011 (as the same has been or may be amended, restated, supplemented or otherwise
modified prior to the date hereof, the “Existing Guaranty”, and, as supplemented or otherwise modified by this
Consent, Amendment and Reaffirmation, the “Amended Guaranty”). Each of the undersigned Guarantors and the Administrative
Agent hereby agrees that Section 17 of the Existing Guaranty is hereby amended and restated in its entirety as follows:

 

17.       GOVERNING
LAW; Assignment; Jurisdiction; Notices. THIS GUARANTY SHALL BE GOVERNED BY AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH
THE LAWS OF THE STATE OF NEW YORK (INCLUDING, WITHOUT LIMITATION, SECTION 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS
LAW, BUT OTHERWISE WITHOUT REGARD TO CONFLICTS OF LAW PRINCIPLES THEREOF). This Guaranty shall (a) bind each Guarantor and
its successors and assigns, provided that such Guarantor may not assign its rights or obligations under this Guaranty without the
prior written consent of the Administrative Agent (and any attempted assignment without such consent shall be void), and (b) inure
to the benefit of the Administrative Agent and its successors and assigns and the Administrative Agent may, without notice to such
Guarantor and without affecting such Guarantor’s obligations hereunder, assign, sell or grant participations in the Guaranteed
Obligations and this Guaranty, in whole or in part. Each Guarantor hereby irrevocably (i) submits to the exclusive jurisdiction
of the courts of the State of New York sitting in New York County and of the United States District Court of the Southern District
of New York, and any appellate court thereof, in any action or proceeding arising out of or relating to this Guaranty, and (ii)
waives to the fullest extent permitted by law any defense asserting an inconvenient forum in connection therewith. Service of process
by the Administrative Agent or any Lender in connection with such action or proceeding shall be binding on the Guarantors if sent
to the applicable Guarantor by registered or certified mail at its address specified below or such other address as from time to
time notified by the applicable Guarantor. Each Guarantor agrees that the Administrative Agent or any Lender may disclose to any
assignee of or participant in, or any prospective assignee of or participant in, any of its rights or obligations of all or part
of the Guaranteed Obligations any and all information in the Administrative Agent’s or Lender’s possession concerning
such Guarantor, this Guaranty and any security for this Guaranty. All notices and other communications to the Guarantors under
this Guaranty shall be in writing and shall be delivered by hand or overnight courier service, mailed by certified or registered
mail or sent by telecopier to the applicable Guarantor at its address set forth below or at such other address in the United States
as may be specified by the applicable Guarantor in a written notice delivered to the Administrative Agent at such office as the
Administrative Agent may designate for such purpose from time to time in a written notice to the Guarantors.

 

    

     

     

Each of the undersigned
Guarantors hereby (1) ratifies and reaffirms all of its obligations and covenants under the Amended Guaranty, (2) agrees that neither
such ratification and reaffirmation provided for in clause (1), nor the Administrative Agent’s or any Lender’s solicitation
of such ratification and reaffirmation, constitutes a course of dealing giving rise to any obligation or condition requiring a
similar or any other ratification or reaffirmation from such Guarantor with respect to any subsequent modifications to the Amended
Credit Agreement or the other Loan Documents, (3) agrees that none of the terms and conditions of the Amendment shall limit or
diminish its payment and performance obligations, contingent or otherwise, under the Amended Credit Agreement and the Amended Guaranty
and (4) agrees that both the Amended Credit Agreement and the Amended Guaranty remain in full force and effect and each is hereby
reaffirmed, ratified and confirmed.

 

Date: September 25, 2019

 

[Signature Page Follows]

 

    

     

     

	 	AAR AIRCRAFT SERVICES, INC.
	 	 
	 	By:___________________________
	 	Name:
	 	Title:
	 	 
	 	 
	 	AAR SUPPLY CHAIN, INC.
	 	 
	 	By:___________________________
	 	Name:
	 	Title:
	 	 
	 	 
	 	AAR INTERNATIONAL, INC.
	 	 
	 	By:___________________________
	 	Name:
	 	Title:
	 	 
	 	 
	 	AAR ALLEN SERVICES, INC.
	 	 
	 	By:___________________________
	 	Name:
	 	Title:
	 	 
	 	 
	 	AAR MANUFACTURING, INC.
	 	 
	 	By:___________________________
	 	Name:
	 	Title:
	 	 
	 	 
	 	AAR AIRLIFT GROUP, INC.
	 	 
	 	By:___________________________
	 	Name:
	 	Title:

 

Signature Page to Consent, Amendment and Reaffirmation

 

    

     

     

	 	EP AVIATION, LLC
	 	 
	 	By:___________________________
	 	Name:
	 	Title:

 

Signature Page to
Consent, Amendment and Reaffirmation

 

    

     

     

 

	Accepted and Agreed:
	 
	 
	BANK OF AMERICA, N.A., 

as Administrative Agent
	 
	 
	By: ______________________________
	Name:
	Title:

 

Signature Page to
Consent, Amendment and ReaffirmationEX-10.1

 Exhibit 10.1 

EXECUTION VERSION 
 Published
Deal CUSIP: 58155CAL8 
 Revolver CUSIP: 58155CAM6 

CREDIT AGREEMENT 
 Dated as
of September 25, 2019 
 McKESSON CORPORATION 

and 
 CERTAIN SUBSIDIARIES

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

BARCLAYS BANK PLC, 

CITIBANK, N.A., 
 WELLS
FARGO BANK, NATIONAL ASSOCIATION, 
 GOLDMAN SACHS BANK USA, 

JPMORGAN CHASE BANK, N.A. 

and 
 HSBC SECURITIES (USA) INC.,

 as Co-Syndication Agents, 

and 
 The Other Lenders and L/C
Issuers Party Hereto 
 BOFA SECURITIES, INC., 

BARCLAYS BANK PLC, 

CITIBANK, N.A., 
 GOLDMAN
SACHS BANK USA, 
 JPMORGAN CHASE BANK, N.A., 

WELLS FARGO SECURITIES, LLC 

and 
 HSBC SECURITIES (USA) INC.,

 as Joint Lead Arrangers and Joint Book Runners 

 TABLE OF CONTENTS 

 
  

 

							
	 	  	 	  	PAGE	 
	 CREDIT AGREEMENT
	  	 	1	 
			
	 ARTICLE I
	  	DEFINITIONS AND ACCOUNTING TERMS	  	 	1	 
			
	 1.01
	  	Defined Terms	  	 	1	 
			
	 1.02
	  	Other Interpretive Provisions	  	 	28	 
			
	 1.03
	  	Accounting Terms	  	 	29	 
			
	 1.04
	  	Rounding	  	 	30	 
			
	 1.05
	  	References to Agreements and Laws	  	 	30	 
			
	 1.06
	  	Times of Day	  	 	30	 
			
	 1.07
	  	Letter of Credit Amounts	  	 	30	 
			
	 1.08
	  	Exchange Rates; Currency Equivalents	  	 	31	 
			
	 1.09
	  	Change of Currency	  	 	31	 
		
	 ARTICLE II THE COMMITMENTS AND CREDIT EXTENSIONS
	  	 	32	 
			
	 2.01
	  	Committed Loans	  	 	32	 
			
	 2.02
	  	Borrowings, Conversions and Continuations of Committed Loans	  	 	32	 
			
	 2.03
	  	Letters of Credit	  	 	34	 
			
	 2.04
	  	[Reserved]	  	 	44	 
			
	 2.05
	  	Prepayments	  	 	44	 
			
	 2.06
	  	Termination or Reduction of Commitments	  	 	45	 
			
	 2.07
	  	Repayment of Loans	  	 	45	 
			
	 2.08
	  	Interest	  	 	46	 
			
	 2.09
	  	Fees	  	 	46	 
			
	 2.10
	  	Computation of Interest and Fees	  	 	47	 
			
	 2.11
	  	Evidence of Debt	  	 	47	 
			
	 2.12
	  	Payments Generally	  	 	48	 
			
	 2.13
	  	Sharing of Payments	  	 	49	 
			
	 2.14
	  	[Reserved]	  	 	50	 
			
	 2.15
	  	Increase in Commitments	  	 	50	 
			
	 2.16
	  	Designation of Borrowers	  	 	52	 
			
	 2.17
	  	Extension of Maturity Date	  	 	54	 
			
	 2.18
	  	Defaulting Lenders	  	 	55	 

							
	 ARTICLE III
	  	TAXES, YIELD PROTECTION AND ILLEGALITY	  	 	58	 
			
	 3.01
	  	Taxes	  	 	58	 
			
	 3.02
	  	Illegality	  	 	62	 
			
	 3.03
	  	Inability to Determine Rates	  	 	63	 
			
	 3.04
	  	Increased Cost and Reduced Return; Capital Adequacy	  	 	65	 
			
	 3.05
	  	Funding Losses	  	 	67	 
			
	 3.06
	  	Matters Applicable to Illegality and all Requests for Compensation	  	 	67	 
			
	 3.07
	  	Survival	  	 	68	 
			
	 ARTICLE IV
	  	CONDITIONS PRECEDENT TO CREDIT EXTENSIONS	  	 	68	 
			
	 4.01
	  	Conditions to Effectiveness	  	 	68	 
			
	 4.02
	  	Existing Revolving Credit Agreement	  	 	70	 
			
	 4.03
	  	Conditions to all Credit Extensions	  	 	71	 
			
	 ARTICLE V
	  	REPRESENTATIONS AND WARRANTIES	  	 	71	 
			
	 5.01
	  	Corporate Existence and Power	  	 	71	 
			
	 5.02
	  	Corporate Authorization; No Contravention	  	 	72	 
			
	 5.03
	  	Governmental Authorization	  	 	72	 
			
	 5.04
	  	Binding Effect	  	 	72	 
			
	 5.05
	  	Litigation	  	 	72	 
			
	 5.06
	  	No Default	  	 	73	 
			
	 5.07
	  	Use of Proceeds; Margin Regulations	  	 	73	 
			
	 5.08
	  	Financial Condition	  	 	73	 
			
	 5.09
	  	Regulated Entities	  	 	73	 
			
	 5.10
	  	Taxes	  	 	73	 
			
	 5.11
	  	Sanctions	  	 	74	 
			
	 5.12
	  	Anti-Corruption Laws and Anti-Money Laundering Laws	  	 	74	 
			
	 5.13
	  	ERISA	  	 	74	 
			
	 5.14
	  	Beneficial Ownership Certification	  	 	74	 
			
	 ARTICLE VI
	  	AFFIRMATIVE COVENANTS	  	 	74	 
			
	 6.01
	  	Financial Statements	  	 	74	 
			
	 6.02
	  	Certificates; Other Information	  	 	75	 
			
	 6.03
	  	Notices	  	 	76	 
			
	 6.04
	  	Preservation of Existence, Etc.	  	 	77	 
			
	 6.05
	  	Maintenance of Insurance	  	 	77	 
			
	 6.06
	  	Payment of Taxes	  	 	77	 
			
	 6.07
	  	Compliance with Laws	  	 	77	 
			
	 6.08
	  	Books and Records	  	 	77	 
			
	 6.09
	  	Inspection Rights	  	 	78	 
			
	 6.10
	  	Use of Proceeds	  	 	78	 
			
	 6.11
	  	Anti-Corruption Laws; Sanctions	  	 	78	 

							
	 ARTICLE VII
	  	NEGATIVE COVENANTS	  	 	78	 
			
	7.01	  	Liens	  	 	78	 
			
	7.02	  	Consolidations and Mergers	  	 	80	 
			
	7.03	  	Use of Proceeds	  	 	81	 
			
	7.04	  	Financial Covenant	  	 	81	 
			
	7.05	  	Sanctions	  	 	81	 
			
	7.06	  	Anti-Corruption Laws	  	 	81	 
			
	 ARTICLE VIII
	  	EVENTS OF DEFAULT AND REMEDIES	  	 	82	 
			
	8.01	  	Events of Default	  	 	82	 
			
	8.02	  	Remedies Upon Event of Default	  	 	84	 
			
	8.03	  	Application of Funds	  	 	84	 
			
	 ARTICLE IX
	  	ADMINISTRATIVE AGENT	  	 	85	 
			
	9.01	  	Appointment and Authorization of Agents	  	 	85	 
			
	9.02	  	Rights as a Lender	  	 	86	 
			
	9.03	  	Exculpatory Provisions	  	 	86	 
			
	9.04	  	Delegation of Duties	  	 	87	 
			
	9.05	  	Reliance by Agent	  	 	87	 
			
	9.06	  	Successor Agents	  	 	88	 
			
	9.07	  	Non-Reliance on Agent and Other Lenders	  	 	89	 
			
	9.08	  	No Other Duties, Etc.	  	 	89	 
			
	9.09	  	Administrative Agent May File Proofs of Claim	  	 	89	 
			
	9.10	  	Certain ERISA Matters	  	 	90	 

							
	 ARTICLE X
	  	[Reserved]	  	 	91	 
			
	 ARTICLE XI
	  	MISCELLANEOUS	  	 	91	 
			
	 11.01
	  	 Amendments, Etc.
	  	 	91	 
			
	 11.02
	  	 Notices and Other Communications; Facsimile Copies
	  	 	92	 
			
	 11.03
	  	 No Waiver; Cumulative Remedies; Enforcement
	  	 	94	 
			
	 11.04
	  	 Expenses; Indemnity; Damage Waiver
	  	 	95	 
			
	 11.05
	  	 Payments Set Aside
	  	 	97	 
			
	 11.06
	  	 Successors and Assigns
	  	 	97	 
			
	 11.07
	  	 Treatment of Certain Information; Confidentiality
	  	 	103	 
			
	 11.08
	  	 Set-off
	  	 	104	 
			
	 11.09
	  	 Interest Rate Limitation
	  	 	105	 
			
	 11.10
	  	 Counterparts
	  	 	105	 
			
	 11.11
	  	 Integration
	  	 	105	 
			
	 11.12
	  	 Survival of Representations and Warranties
	  	 	105	 
			
	 11.13
	  	 Severability
	  	 	106	 
			
	 11.14
	  	 [Reserved]
	  	 	106	 
			
	 11.15
	  	 Replacement of Lenders
	  	 	106	 
			
	 11.16
	  	 Governing Law
	  	 	107	 
			
	 11.17
	  	 Waiver of Right to Trial by Jury
	  	 	107	 
			
	 11.18
	  	 No Advisory or Fiduciary Responsibility
	  	 	108	 
			
	 11.19
	  	 USA Patriot Act Notice
	  	 	108	 
			
	 11.20
	  	 Judgment
	  	 	108	 
			
	 11.21
	  	 Acknowledgment and Consent to Bail-In of EEA Financial
Institutions.
	  	 	109	 
			
	 11.22
	  	 Acknowledgement Regarding Any Supported QFCs
	  	 	110	 

			
	SCHEDULES
		
	  2.01	  	Commitments, Pro Rata Shares and Affiliate Banks
		
	11.02	  	Administrative Agent’s Office, Certain Addresses for Notices
	
	EXHIBITS
		
	A	  	Form of Committed Loan Notice
		
	B	  	Form of Note
		
	C	  	Form of Compliance Certificate
		
	D	  	Form of Assignment and Assumption
		
	E-1	  	Form of Designated Borrower Request and Assumption Agreement
		
	E-2	  	Form of Designated Borrower Notice
		
	F	  	Form of Joinder Agreement
		
	G	  	Form of Borrower Notice
		
	H	  	[Reserved]
		
	I	  	Form of Guaranty
		
	J-1	  	Form of U.S. Tax Compliance Certificate (Foreign Lenders That Are Not Partnerships)
		
	J-2	  	Form of U.S. Tax Compliance Certificate (Foreign Participants That Are Not Partnerships)
		
	J-3	  	Form of U.S. Tax Compliance Certificate (Foreign Participants That Are Partnerships)
		
	J-4	  	Form of U.S. Tax Compliance Certificate (Foreign Lenders That Are Partnerships)
		
	K	  	Form of Letter of Credit Report

  

 CREDIT AGREEMENT 

This CREDIT AGREEMENT (“Agreement”) is entered into as of September 25, 2019, among McKESSON CORPORATION, a Delaware
corporation (the “Company”), any Designated Borrower (as defined below) or any Subsidiary of the Company that has executed and delivered to the Administrative Agent a joinder agreement in the form of Exhibit F hereto pursuant
to Section 7.02(d), as applicable (together with the Company and any Designated Borrower, the “Borrowers” and each a “Borrower”), each lender from time to time party hereto (collectively,
the “Lenders” and each individually, a “Lender”), each L/C Issuer from time to time party hereto and BANK OF AMERICA, N.A., as Administrative Agent. 

The Borrowers have requested that the Lenders make available, for the purposes specified in this Agreement, a revolving credit facility, and
the Lenders are willing to make available to the Borrowers such revolving credit facility upon the terms and subject to the conditions set forth herein. 

In consideration of the mutual covenants and agreements herein contained, the parties hereto covenant and agree as follows: 

ARTICLE I 
 DEFINITIONS
AND ACCOUNTING TERMS 
 1.01    Defined Terms. As used in this Agreement (including the introductory clauses hereto),
the following terms shall have the meanings set forth below: 
 “Acquired Debt Default” means an event of default under a
Relevant Obligation of a Person which becomes a Subsidiary after the date hereof, which event of default occurs by reason of the change of control of such Person by virtue of the transaction pursuant to which it becomes a Subsidiary. For avoidance
of doubt, an event of default under another Relevant Obligation of the Company or a Subsidiary by virtue of a cross default to an event of default described in the preceding sentence is not an Acquired Debt Default. 

“Additional Commitment Lender” has the meaning specified in Section 2.17. 

“Administrative Agent” means Bank of America, N.A. in its capacity as administrative agent under any of the Loan Documents,
or any successor administrative agent. 
 “Administrative Agent’s Office” means, with respect to any
currency, the Administrative Agent’s address and, as appropriate, account as set forth on Schedule 11.02 with respect to such currency, or such other address or account with respect to such currency as the Administrative Agent may from
time to time notify the Borrowers and the Lenders. 
 “Administrative Questionnaire” means, with respect to any currency,
an Administrative Questionnaire in a form supplied by the Administrative Agent. 

 “Affiliate” means, with respect to any Person, another Person that
directly, or indirectly through one or more intermediaries, Controls or is Controlled by or is under common Control with the Person specified. “Control” means the possession, directly or indirectly, of the power to direct or cause
the direction of the management or policies of a Person, whether through the ability to exercise voting power, by contract or otherwise. “Controlling” and “Controlled” have meanings correlative thereto.
Notwithstanding the foregoing, in relation to National Westminster Bank plc, the term “Affiliate” shall not include (i) the UK government or any member or instrumentality thereof, including Her Majesty’s Treasury and UK Financial
Investments Limited (or any directors, officers, employees or entities thereof) or (ii) any persons or entities controlled by or under common control with the UK government or any member or instrumentality thereof (including Her Majesty’s
Treasury and UK Financial Investments Limited) and which are not part of The Royal Bank of Scotland Group plc and its subsidiaries or subsidiary undertakings. 

“Agent Parties” has the meaning specified in Section 11.02(c). 

“Agent” means the Administrative Agent. 

“Aggregate Commitments” means the aggregate Commitments of all the Lenders. The Aggregate Commitments as of the Closing Date
are equal to $4,000,000,000. 
 “Agreement” means this Credit Agreement. 

“Alternative Currency” means each of the following currencies: Euro, Sterling, and Canadian Dollars. 

“Alternative Currency Sublimit” means an amount equal $3,600,000,000.00. The Alternative Currency Sublimit is part of, and
not in addition to, the Aggregate Commitments. 
 “Anniversary Date” has the meaning specified in
Section 2.17. 
 “Anti-Money Laundering Laws” means laws and regulations related to terrorism
financing or money laundering, including the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 (Title III of Pub. L. 107-56), and The
Currency and Foreign Transactions Reporting Act (also known as the “Bank Secrecy Act”, 31 U.S.C. §§ 5311-5330 and 12 U.S.C. §§ 1818(s), 1820(b) and 1951-1959). 

“Applicable Rate” means, from time to time, the rate, expressed in basis points per annum, corresponding to the applicable
Debt Rating as set forth below: 
  

															
	 Pricing
Level
	  	 Debt Ratings

S&P/Moody’s/Fitch
	  	Facility
Fee	 	  	Eurocurrency Rate
Loans and Letters of
Credit	 	  	Base Rate Loans	 
	 1
	  	 Greater than or equal
 to A/A2/A
	  	 	7.0	 	  	 	68.0	 	  	 	0	 
	 2
	  	A-/A3/A-	  	 	8.0	 	  	 	79.5	 	  	 	0	 
	 3
	  	BBB+/Baa1/BBB+	  	 	9.0	 	  	 	91.0	 	  	 	0	 
	 4
	  	BBB/Baa2/BBB	  	 	11.0	 	  	 	101.5	 	  	 	1.5	 
	 5
	  	 Less than or equal to
 BBB-/Baa3/BBB-
	  	 	15.0	 	  	 	110.0	 	  	 	10.0	 

  
 2 

 “Debt Rating” means, as of any date of determination, the
available ratings as determined by S&P, Moody’s and/or Fitch (collectively, the “Debt Ratings”) of the Company’s non-credit-enhanced, senior unsecured long-term debt;
provided that (1) if the Company shall maintain a Debt Rating from all three of S&P, Moody’s and Fitch and there is a difference in such Debt Ratings, (a) if there is a Debt Rating differential of (i) one Pricing Level
between the highest and lowest Debt Ratings or (ii) more than one Pricing Level between the highest and lowest Debt Ratings, with two Debt Ratings that are equivalent and the third Debt Rating lower, in each case, the higher Pricing Level shall
apply and (b) otherwise, one Pricing Level below the Pricing Level corresponding to the highest of the three Debt Ratings shall apply, (2) if the Company shall maintain Debt Ratings from only two of S&P, Moody’s and Fitch,
(a) if there is a split in Debt Ratings of more than one Pricing Level, the Pricing Level that is one Pricing Level lower than the higher of the Company’s two Debt Ratings shall apply and (b) otherwise, the higher of such two Debt
Ratings shall apply, (3) if the Company shall maintain Debt Ratings from only one of S&P, Moody’s and Fitch, then that single Debt Rating shall apply or (4) if the Company shall maintain Debt Ratings from none of S&P,
Moody’s and Fitch, then the Applicable Rate shall be based on Pricing Level 5. 
 Initially, the Applicable Rate
shall be determined based upon the Debt Rating specified in the certificate delivered pursuant to Section 4.01(a)(vi). Thereafter, each change in the Applicable Rate shall be effective during the period commencing on the
effective date of such change in the Debt Rating and ending on the date immediately preceding the effective date of the next such change. 

“Applicable Time” means, with respect to any borrowings and payments in any Alternative Currency, the local time in the place
of settlement for such Alternative Currency as may be determined by the Administrative Agent or the applicable L/C Issuer, as the case may be, to be necessary for timely settlement on the relevant date in accordance with normal banking procedures in
the place of payment. 
 “Applicant Borrower” shall have the meaning specified in
Section 2.16(a). 
 “Approved Fund” means any Fund that is administered or managed by (a) a
Lender, (b) an Affiliate of a Lender or (c) an entity or an Affiliate of an entity that administers or manages a Lender. 

“Arrangers” means BofA Securities, Inc., Barclays Bank PLC, Citibank, N.A., Goldman Sachs Bank USA, JPMorgan Chase Bank,
N.A., Wells Fargo Securities, LLC and HSBC Securities (USA) Inc., each in its capacity as joint lead arranger and joint book runner. 

“Assignment and Assumption” means an Assignment and Assumption substantially in the form of Exhibit D. 

  
 3 

 “Attorney Costs” means and includes all reasonable fees, expenses and
disbursements of any law firm or other external counsel and, without duplication, the reasonable allocated cost of internal legal services and all reasonable expenses and disbursements of internal counsel; provided that no fees, expenses or
disbursements shall qualify as Attorney Costs unless written evidence, prepared in reasonable detail, substantiating such fees, expenses and disbursements is available to the Company upon request. 

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

“Audited Financial Statements” means the audited consolidated balance sheet of the Company and its Subsidiaries for the
fiscal year ended March 31, 2019, and the related consolidated statements of operations, shareholders’ equity and cash flows for such fiscal year of the Company and its Subsidiaries, including the notes thereto. 

“Availability Period” means the period from and including the date hereof to the earliest of (a) the Maturity Date,
(b) the date of termination of the Aggregate Commitments pursuant to Section 2.06, and (c) the date of termination of the commitment of each Lender to make Loans and of the obligation of the of the L/C Issuers to
make L/C Credit Extensions pursuant to Section 8.02. 
 “Bail-In
Action” means the exercise of any Write-Down and Conversion Powers by the applicable EEA Resolution Authority in respect of any liability of an EEA Financial Institution. 

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

“Base Rate” means for any day a fluctuating rate per annum equal to the highest of (a) the Federal Funds Rate plus 1/2
of 1%, (b) the rate of interest in effect for such day as publicly announced from time to time by Bank of America as its “prime rate,” and (c) the Eurocurrency Rate plus 1%; and if the Base Rate shall be less than zero, such rate
shall be deemed zero for purposes of this Agreement. The “prime rate” is a rate set by Bank of America based upon various factors including Bank of America’s costs and desired return, general economic conditions and other factors, and
is used as a reference point for pricing some loans, which may be priced at, above, or below such announced rate. Any change in such rate announced by Bank of America shall take effect at the opening of business on the day specified in the public
announcement of such change. If the Base Rate is being used as an alternate rate of interest pursuant to Section 3.03 hereof, then the Base Rate shall be the greater of clauses (a) and (b) above and shall be determined without reference to
clause (c) above. 
 “Base Rate Committed Loan” means a Committed Loan that is a Base Rate Loan. 

  
 4 

 “Base Rate Loan” means a Loan made to a Borrower that is a U.S. Person that
bears interest based on the Base Rate. All Base Rate Loans shall be denominated in Dollars. 
 “Beneficial Ownership
Certification” means a certification regarding beneficial ownership required by the Beneficial Ownership Regulation. 

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

“Beneficiary” means, in relation to a Letter of Credit, from time to time, the initial beneficiary, a transferee beneficiary,
a successor beneficiary, a nominated bank, a negotiating bank or a confirming bank with respect to such Letter of Credit, as applicable. 

“Benefit Plan” means any of (a) an “employee benefit plan” (as defined in ERISA) that is subject to Title I of
ERISA, (b) a “plan” as defined in and subject to Section 4975 of the Code or (c) any Person whose assets include (for purposes of ERISA Section 3(42) or otherwise for purposes of Title I of ERISA or Section 4975 of
the Code) the assets of any such “employee benefit plan” or “plan”. 
 “BHC Act Affiliate” of a party
means an “affiliate” (as such term is defined under, and interpreted in accordance with, 12 U.S.C. 1841(k)) of such party. 

“Borrower” and “Borrowers” each have the meaning specified in the introductory paragraph hereto. 

“Borrower Materials” has the meaning specified in Section 6.02. 

“Borrower Notice” has the meaning specified in Section 7.02(d). 

“Borrowing” means a Committed Borrowing. 

“Business Day” means any day other than a Saturday, Sunday or other day on which commercial banks are authorized to close
under the Laws of, or are in fact closed in, the state where the Administrative Agent’s Office with respect to Obligations denominated in Dollars is located and: 

(a) if such day relates to any interest rate settings as to a Eurocurrency Rate Loan denominated in Dollars, any fundings, disbursements,
settlements and payments in Dollars in respect of any such Eurocurrency Rate Loan, or any other dealings in Dollars to be carried out pursuant to this Agreement in respect of any such Eurocurrency Rate Loan, means any such day that is also a London
Banking Day; 
 (b) if such day relates to any interest rate settings as to a Eurocurrency Rate Loan denominated in Euro, any fundings,
disbursements, settlements and payments in Euro in respect of any such Eurocurrency Rate Loan, or any other dealings in Euro to be carried out pursuant to this Agreement in respect of any such Eurocurrency Rate Loan, means a TARGET Day; 

(c) if such day relates to any interest rate settings as to a Eurocurrency Rate Loan denominated in a currency other than Dollars or Euro,
means any such day on which dealings in deposits in the relevant currency are conducted by and between banks in the London or other applicable offshore interbank market for such currency; and 

  
 5 

 (d) if such day relates to any fundings, disbursements, settlements and payments in a
currency other than Dollars or Euro in respect of a Eurocurrency Rate Loan denominated in a currency other than Dollars or Euro, or any other dealings in any currency other than Dollars or Euro to be carried out pursuant to this Agreement in respect
of any such Eurocurrency Rate Loan (other than any interest rate settings), means any such day on which banks are open for foreign exchange business in the principal financial center of the country of such currency. 

“Canadian Dollars” and “Cdn.$” each means the lawful money of Canada. 

“Cash Collateralize” has the meaning specified in Section 2.03(g). 

“Cash Collateral” has the meaning specified in Section 2.03(g). 

“CDOR” has the meaning set forth in the definition of “Eurocurrency Base Rate”. 

“Change in Law” means the occurrence, after the date of this Agreement, of any of the following: (a) the adoption or
taking effect of any law, rule, regulation or treaty, (b) any change in any law, rule, regulation or treaty or in the administration, interpretation, implementation or application thereof by any Governmental Authority or (c) the making or
issuance of any request, rule, guideline or directive (whether or not having the force of law) by any Governmental Authority; provided that notwithstanding anything herein to the contrary, (x) the Dodd-Frank Wall Street Reform and
Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued in connection therewith or in the implementation thereof and (y) all requests, rules, guidelines or directives promulgated by the Bank for
International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority), the United States or foreign regulatory authorities, in each case pursuant to Basel III, shall in each case be deemed to be a “Change
in Law”, regardless of the date enacted, adopted, issued or implemented. 
 “Change of Control” means an event or
series of events by which: 
 (a)    (i) with respect to the Company, any “person” or
“group” (as such terms are used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, but excluding any employee benefit plan of such person or its subsidiaries, and any person or entity acting in its capacity as trustee,
agent or other fiduciary or administrator of any such plan) becomes the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Securities Exchange
Act of 1934, except that a person or group shall be deemed to have “beneficial ownership” of all securities that such person or group has the right to acquire, whether such right is exercisable immediately or only after the passage of time
(such right, an “option right”)), directly or indirectly, of 51% or more of the equity securities of the Company entitled to vote for members of the board of directors or equivalent governing body of the Company on a fully-diluted
basis (and taking into account all such securities that such person or group has the right to acquire pursuant to any option right) (provided that “Change of Control” shall not include any such acquisition which occurs as part of a
transaction consisting of (x) the Company becoming a wholly owned subsidiary of a holding company and (y) the holders of the voting stock of such holding company immediately following such transaction are substantially the same as the
holders of the Company’s voting stock immediately prior to such transaction) and (ii) with respect to the Domestic Subsidiary that becomes a Borrower pursuant to Section 7.02(d), any “person” or
“group” other than the Company becomes the “beneficial owner”, directly or indirectly, of any equity securities of such Domestic Subsidiary entitled to vote for members of the board of directors or equivalent governing body of
such Domestic Subsidiary on a fully-diluted basis; or 

  
 6 

 (b)    during any period of 12 consecutive months, a
majority of the members of the board of directors or other equivalent governing body of the Company cease to be composed of individuals (i) who were members of that board or equivalent governing body on the first day of such period,
(ii) whose election or nomination to that board or equivalent governing body was approved by individuals referred to in clause (i) above constituting at the time of such election or nomination at least a majority of that board or
equivalent governing body or (iii) whose election or nomination to that board or other equivalent governing body was approved by individuals referred to in clauses (i) and (ii) above constituting at the time of such election or nomination
at least a majority of that board or equivalent governing body. 
 “Closing Date” means September 25, 2019. 

“Code” means the Internal Revenue Code of 1986. 

“Commitment” means, as to each Lender, its obligation to (a) make Committed Loans to the Borrowers pursuant to
ARTICLE II or (b) purchase participations in L/C Obligations, in an aggregate principal amount at any one time outstanding not to exceed the Dollar amount set forth opposite such Lender’s name on
Schedule 2.01 or in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement. The Commitment for
any Lender that has an Affiliate is a single value for such Lender and its Affiliate taken together. 
 “Committed
Borrowing” means a borrowing consisting of simultaneous Committed Loans of the same Type, in the same currency and, in the case of Eurocurrency Rate Loans, having the same Interest Period made by each of the Lenders pursuant to
Section 2.01. 
 “Committed Loan” has the meaning specified in
Section 2.01. 
 “Committed Loan Notice” means a notice of (a) a Committed Borrowing,
(b) a conversion of Committed Loans from one Type to the other, or (c) a continuation of Eurocurrency Rate Loans, pursuant to Section 2.02(a), which, if in writing, shall be substantially in the form of Exhibit
A or such other form as may be approved by the Administrative Agent (including any form on an electronic platform or electronic transmission system as shall be approved by the Administrative Agent), appropriately completed and signed by a
Responsible Officer of the applicable Borrower. 

  
 7 

 “Company” has the meaning specified in the introductory clause hereto. 

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

“Connection Income Taxes” means Other Connection Taxes that are imposed on or measured by net income (however denominated) or
that are franchise Taxes or branch profits Taxes. 
 “Contractual Obligation” means, as to any Person, any provision of any
security issued by such Person or of any agreement, instrument or other undertaking to which such Person is a party or by which it or any of its property is bound. 

“Control” has the meaning specified in the definition of “Affiliate.” 

“Covered Entity” means any of the following: (a) a “covered entity” as that term is defined in, and
interpreted in accordance with, 12 C.F.R. § 252.82(b), (b) a “covered bank” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 47.3(b) or (c) a “covered FSI” as that term is defined in, and
interpreted in accordance with, 12 C.F.R. § 382.2(b). 
 “Credit Extension” means each of the following: (a) a
Borrowing and (b) an L/C Credit Extension. 
 “Debt Rating” has the meaning specified in the definition of
“Applicable Rate.” 
 “Debtor Relief Laws” means the Bankruptcy Code of the United States and all other
liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief Laws of the United States or other applicable jurisdictions from time to
time in effect and affecting the rights of creditors generally. 
 “Default” means any event or condition that constitutes
an Event of Default or that, with the giving of any notice, the passage of time, or both, would be an Event of Default. 
 “Default
Rate” means an interest rate equal to (a) the Base Rate plus (b) the Applicable Rate, if any, applicable to Base Rate Loans plus (c) 2% per annum; provided, however that, with respect to a
Eurocurrency Rate Loan, the Default Rate shall be an interest rate equal to the interest rate (including any Applicable Rate) otherwise applicable to such Loan plus 2% per annum, in each case to the fullest extent permitted by applicable Laws. 

“Default Right” has the meaning assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R. §§
252.81, 47.2 or 382.1, as applicable. 

  
 8 

 “Defaulting Lender” means, subject to
Section 2.18, any Lender that (i) has failed to fund any portion of the Committed Loans or participations in L/C Obligations required to be funded by it hereunder within two Business Days of the date required to be
funded by it hereunder, unless such Lender notifies the Administrative Agent in writing that such failure is the result of such Lender’s determination that one or more conditions precedent to funding (which conditions precedent, together with
the applicable default, if any, shall be specifically identified in such writing) has not been satisfied, (ii) has otherwise failed to pay over to the Administrative Agent or any other Lender any other amount required to be paid by it hereunder
within two Business Days of the date when due, unless the subject of a good faith dispute, (iii) has notified any Borrower, the Administrative Agent or any other Lender in writing that it does not intend to comply with its funding obligations
or has made a public statement to that effect with respect to its funding obligations hereunder (unless such writing or public statement relates to such Lenders’ obligation to fund a Loan hereunder and states that such position is based on such
Lender’s determination that a condition precedent to funding (which condition precedent, together with the applicable default, if any, shall be specifically identified in such writing or public statement) cannot be satisfied) or generally under
other agreements in which it commits to extend credit, (iv) has failed, within three (3) Business Days after request by the Administrative Agent, to confirm in a manner reasonably satisfactory to the Administrative Agent that it will
comply with its funding obligations hereunder (provided that such Lender shall cease to be a Defaulting Lender pursuant to this clause (iv) upon receipt of such written confirmation by the Administrative Agent) or (v) has, or has a
direct or indirect parent company that has, (w) become the subject of an Insolvency Proceeding, (x) had a receiver, conservator, trustee, administrator, assignee for the benefit of creditors or similar Person charged with reorganization or
liquidation of its business or a custodian appointed for it, or (y) taken any action in furtherance of, or indicated its consent to, approval of or acquiescence in any such proceeding or appointment (provided that a Lender shall not be a
Defaulting Lender solely by virtue of the ownership or acquisition of any equity interest in that Lender or any direct or indirect parent company thereof by a Governmental Authority so long as such ownership interest does not result in or provide
such Lender with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit such Lender (or such Governmental Authority) to reject, repudiate, disavow or
disaffirm any contracts or agreements made with such Lender) or (z) has become the subject of a Bail-In Action. Any determination by the Administrative Agent that a Lender is a Defaulting Lender under any
one or more of clauses (i) through (v) above, and of the effective date of such status, shall be conclusive and binding absent manifest error, and such Lender shall be deemed to be a Defaulting Lender (subject to Section 2.18) as of the
date established therefor by the Administrative Agent in a written notice of such determination, which shall be delivered by the Administrative Agent to the Borrower, each L/C Issuer and each other Lender promptly following such determination. 

“Designated Borrower” means any consolidated Subsidiary of the Company that becomes eligible to receive Loans hereunder
pursuant to Section 2.16. 
 “Designated Borrower Effective Date” has the meaning specified in
Section 2.16(a). 
 “Designated Borrower Jurisdiction” means the United States, any state thereof
or the District of Columbia, Canada, United Kingdom, Germany, Ireland, Luxembourg, The Netherlands or other jurisdictions approved by each Lender. 

“Designated Borrower Notice” shall have the meaning specified in Section 2.16(a). 

“Designated Borrower Request and Assumption Agreement” shall have the meaning specified in
Section 2.16(a). 

  
 9 

 “Designated Foreign Borrower” shall have the meaning specified in
Section 2.16. 
 “Designated Jurisdiction” means any country or territory that itself is the
subject of any comprehensive territorial Sanctions, currently, Cuba, Crimea region of Ukraine, Iran, North Korea and Syria. 

“Disqualified Institution” means at any time any Person that is a competitor of the Company or an affiliate of a competitor
of the Company, in each case as so identified on a list provided by the Company to the Administrative Agent on or after the date hereof. The Company may update such list from time to time with any competitor of the Company or any affiliate of a
competitor of the Company by providing written notice to the Administrative Agent. 
 “Dollar” and “$”
mean lawful money of the United States. 
 “Dollar Equivalent” means, at any time, (a) as to any amount denominated in
Dollars, the amount thereof as such time, and (b) as to any amount denominated in any Alternative Currency, the equivalent amount thereof in Dollars as determined by the Administrative Agent or the applicable L/C Issuer, as the case may be, at
such time on the basis of the Spot Rate (determined in respect of the most recent Revaluation Date) for the purchase of Dollars with such Alternative Currency. 

“Domestic Subsidiary” means each Subsidiary that is not a Foreign Subsidiary or a FSHCO. 

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

“EEA Member Country” means any of the member states of the European Union, Iceland, Liechtenstein, and Norway;
provided, that to the extent that the United Kingdom is no longer an EEA Member Country, the definition of “EEA Member Country” hereunder shall nevertheless continue to include the United Kingdom. 

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

“Eligible Assignee” has the meaning specified in Section 11.06(g). 

“Environmental Laws” means any and all federal, state, provincial, municipal, local, and foreign statutes, laws (including
common law), regulations, ordinances, rules, judgments, orders, decrees, permits, concessions, grants, franchises, licenses, agreements or governmental restrictions relating to pollution or the protection of the environment or the release of any
materials into the environment, including those related to hazardous substances or wastes, air emissions and discharges to waste or public systems. 

  
 10 

 “Environmental Liability” means any liability, contingent or otherwise
(including any liability for damages, costs of environmental remediation, fines or penalties), of the Company or any of its Subsidiaries directly or indirectly resulting from or based upon (a) violation of any Environmental Law, (b) the
generation, use, handling, transportation, storage, treatment or disposal of any Hazardous Materials, (c) exposure to any Hazardous Materials or (d) the release or threatened release of any Hazardous Materials into the environment. 

“Equity Interests” of any Person mean any and all shares, interests, rights to purchase, warrants, options, participation or
other equivalents of or interests in (however designated) equity of such Person, including any preferred stock, any limited or general partnership interest and any limited liability company membership interest. 

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

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

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

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

“Euro” and “€” mean the single currency of the Participating Member States. 

“Eurocurrency Base Rate” means, with respect to any Credit Extension: 

(a)    for any rate calculation with respect to a Eurocurrency Rate Loan on any date: 

(i) denominated in Dollars, Euro and Sterling, the rate per annum equal to the London Interbank Offered Rate as administered by ICE Benchmark
Administration (or any other Person that takes over the administration of such rate for the relevant currency for a period equal in length to such Interest Period) (“LIBOR”) or a comparable or successor rate which rate is approved
by the Administrative Agent, as published on the applicable Bloomberg screen page (or such other commercially available source providing such quotations as may be designated by the Administrative Agent from time to time) at approximately 11:00 a.m.,
London time, two Business Days prior to the commencement of such Interest Period, for deposits in the relevant currency (for delivery on the first day of such Interest Period) with a term equivalent to such Interest Period; or 

  
 11 

 (ii) denominated in Canadian dollars, the rate per annum equal to the Canadian Dealer
Offered Rate (“CDOR”), or a comparable or successor rate which rate is approved by the Administrative Agent, as published on the applicable Bloomberg screen page (or such other commercially available source providing such quotations
as may be designated by the Administrative Agent from time to time) at or about 10:00 a.m. (Toronto, Ontario time) on the Rate Determination Date with a term equivalent to such Interest Period; 

(b)    for any rate calculation with respect to a Base Rate Loan on any date, the rate per annum equal to LIBOR, at or
about 11:00 a.m., London time determined two Business Days prior to such date for U.S. Dollar deposits with a term of one month commencing that day; 

provided that to the extent a comparable or successor rate is approved by the Administrative Agent in connection with any rate set
forth in this definition, the approved rate shall be applied in a manner consistent with market practice; provided, further that to the extent such market practice is not administratively feasible for the Administrative Agent, such
approved rate shall be applied in a manner as otherwise reasonably determined by the Administrative Agent; and if the Eurocurrency Base Rate shall be less than zero, such rate shall be deemed zero for purposes of this Agreement. 

“Eurocurrency Rate” means, with respect to any Eurocurrency Rate Loan, a rate per annum determined by the Administrative
Agent pursuant to the following formula: 
  

									
		  	Eurocurrency Rate	 	=	 	 Eurocurrency Base Rate
	  	
		  		 		 	1.00 — Eurocurrency Reserve Percentage	  	

 “Eurocurrency Rate Loan” means a Committed Loan that bears interest at the Eurocurrency Rate
calculated at a rate based on clause (a) of the definition of “Eurocurrency Base Rate”. Eurocurrency Rate Loans may be denominated in Dollars or in an Alternative Currency. All Committed Loans denominated in an Alternative Currency
must be Eurocurrency Rate Loans. 
 “Eurocurrency Reserve Percentage” means, for any day during any Interest Period, the
reserve percentage (expressed as a decimal, carried out to five decimal places) in effect on such day, whether or not applicable to any Lender, under regulations issued from time to time by the FRB for determining the maximum reserve requirement
(including any emergency, supplemental or other marginal reserve requirement) with respect to Eurocurrency funding (currently referred to as “Eurocurrency liabilities” in Regulation D of the FRB). The Eurocurrency Rate for each outstanding
Eurocurrency Rate Loan shall be adjusted automatically as of the effective date of any change in the Eurocurrency Reserve Percentage. 

  
 12 

 “Eurocurrency Successor Rate” has the meaning specified in
Section 3.03(c). 
 “Eurocurrency Successor Rate Conforming Changes” means, with respect to any
proposed Eurocurrency Successor Rate, any conforming changes to the definition of Base Rate, Interest Period, timing and frequency of determining rates and making payments of interest and other technical, administrative or operational matters as may
be appropriate, in the discretion of the Administrative Agent, to reflect the adoption and implementation of such Eurocurrency Successor Rate and to permit the administration thereof by the Administrative Agent in a manner substantially consistent
with market practice (or, if the Administrative Agent determines that adoption of any portion of such market practice is not administratively feasible or that no market practice for the administration of such Eurocurrency Successor Rate exists, in
such other manner of administration as the Administrative Agent determines is reasonably necessary in connection with the administration of this Agreement). 

“Event of Default” has the meaning specified in Section 8.01. 

“Excluded Taxes” means any of the following Taxes imposed on or with respect to any Recipient or required to be withheld or
deducted from a payment to a Recipient, (a) Taxes imposed on or measured by net income (however denominated), franchise Taxes, and branch profits Taxes, in each case, (i) imposed as a result of such Recipient being organized under the laws
of, or having its principal office or, in the case of any Lender, its Lending Office located in, the jurisdiction imposing such Tax (or any political subdivision thereof) or (ii) that are Other Connection Taxes, (b) in the case of a
Lender, U.S. federal withholding Taxes imposed on amounts payable to or for the account of such Lender with respect to an applicable interest in a Loan or Commitment pursuant to a law in effect on the date on which (i) such Lender acquires such
interest in the Loan or Commitment (other than pursuant to an assignment request by the Company under Section 11.15) or (ii) such Lender changes its Lending Office, except in each case to the extent that, pursuant to
Section 3.01(a)(iii) or (c), amounts with respect to such Taxes were payable either to such Lender’s assignor immediately before such Lender became a party hereto or to such Lender immediately before it changed its
Lending Office, (c) Taxes attributable to such Recipient’s failure to comply with Section 3.01(e) and (d) any U.S. federal withholding Taxes imposed pursuant to FATCA. 

“Existing Letters of Credit” means those letters of credit issued prior to the date hereof for the account of the Company or
one of its Subsidiaries, as identified by the applicable L/C Issuer to the Administrative Agent in a writing confirmed by the Company on or prior to the date hereof. 

“Existing Maturity Date” has the meaning specified in Section 2.17. 

“Existing Revolving Credit Agreement” means that certain Credit Agreement dated as of October 22, 2015 among the
Company, any designated borrower, each lender from time to time party thereto, Bank of America, N.A., as administrative agent, Wells Fargo Bank, National Association, as L/C issuer, and Bank of America, N.A. (acting through its Canada branch),
Citibank N.A. and Barclays Bank PLC, each as swing line lender, as amended to date. 

  
 13 

 “Extending Lender” has the meaning specified in
Section 2.17. 
 “FATCA” means Sections 1471 through 1474 of the Code, as of the date of this
Agreement (or any amended or successor version that is substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof and any agreements entered into pursuant to
Section 1471(b)(1) of the Code. 
 “Federal Funds Rate” means, for any day, the rate per annum calculated by the
Federal Reserve Bank of New York based on such day’s federal funds transactions by depository institutions (as determined in such manner as the Federal Reserve Bank of New York shall set forth on its public website from time to time) and
published on the next succeeding Business Day by the Federal Reserve Bank of New York as the federal funds effective rate; provided that if the Federal Funds Rate as so determined would be less than zero, such rate shall be deemed to be zero for
purposes of this Agreement. 
 “Fee Letter” means, collectively, (a) the letter agreement, dated August 26, 2019,
between the Company and Bank of America and (b) any fee letter agreement entered into among the Company and the Arrangers in connection with this Agreement. 

“Fitch” means Fitch Ratings Inc., and any successor thereto. 

“Foreign Designated Borrower Sublimit” means an amount equal to the lesser of the Aggregate Commitments and $3,600,000,000.
The Foreign Designated Borrower Sublimit is part of, and not in addition to, the Aggregate Commitments. 
 “Foreign Lender”
means, with respect to any Borrower, (a) if such Borrower is a U.S. Person, a Lender that is not a U.S. Person, and (b) if such Borrower is not a U.S. Person, a Lender that is resident or organized under the laws of a jurisdiction other
than that in which such Borrower is resident for tax purposes. For purposes of this definition, the United States, each State thereof and the District of Columbia shall be deemed to constitute a single jurisdiction. 

“Foreign Subsidiary” means any Subsidiary that (a) is a “controlled foreign corporation” within the meaning of
the Code or (b) is a “disregarded as an entity separate from its owner” within the meaning of Treasury Regulation Section 301.7701-3 and is a direct Subsidiary of a “controlled foreign
corporation” within the meaning of the Code. 
 “FRB” means the Board of Governors of the Federal Reserve System of
the United States. 
 “FSHCO” means any Subsidiary (i) that is organized under the laws of the United States, any
state thereof or the District of Columbia and (ii) substantially all of the assets of which constitute the Equity Interests of Foreign Subsidiaries. 

“Fronting Exposure” means, at any time there is a Defaulting Lender, such Defaulting Lender’s Pro Rata Share of the
outstanding L/C Obligations other than L/C Obligations as to which such Defaulting Lender’s participation obligation has been reallocated to other Lenders or Cash Collateralized in accordance with the terms hereof. 

  
 14 

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

“GAAP” means generally accepted accounting principles in the United States set forth in the opinions and pronouncements of
the Accounting Principles Board and the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or such other principles as may be approved by a significant segment of the
accounting profession in the United States, that are applicable to the circumstances as of the date of determination, consistently applied; provided that, to the extent related to McKesson Europe, “GAAP” means either the foregoing
or IFRS, consistently applied. 
 “Governmental Authority” means any nation or government, any state or other political
subdivision thereof, any agency, authority, instrumentality, regulatory body, court, administrative tribunal, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or
pertaining to government (including any supra national bodies such as the European Union or the European Central Bank). 
 “Granting
Lender” has the meaning specified in Section 11.06(h). 
 “Guarantee” means, as to any
Person, any (a) any obligation, contingent or otherwise, of such Person guaranteeing or having the economic effect of guaranteeing any Indebtedness or other obligation payable or performable by another Person (the “primary obligor”)
in any manner, whether directly or indirectly, and including any obligation of such Person, direct or indirect, (i) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other obligation,
(ii) to purchase or lease property, securities or services for the purpose of assuring the obligee in respect of such Indebtedness or other obligation of the payment or performance of such Indebtedness or other obligation, (iii) to
maintain working capital, equity capital or any other financial statement condition or liquidity or level of income or cash flow of the primary obligor so as to enable the primary obligor to pay such Indebtedness or other obligation, or
(iv) entered into for the purpose of assuring in any other manner the obligee in respect of such Indebtedness or other obligation of the payment or performance thereof or to protect such obligee against loss in respect thereof (in whole or in
part), or (b) any Lien on any assets of such Person securing any Indebtedness or other obligation of any other Person, whether or not such Indebtedness or other obligation is assumed by such Person. The amount of any Guarantee shall be deemed
to be an amount equal to the stated or determinable amount of the related primary obligation, or portion thereof, in respect of which such Guarantee is made or, if not stated or determinable, the maximum reasonably anticipated liability in respect
thereof as determined by the guaranteeing Person in good faith. The term “Guarantee” as a verb has a corresponding meaning. 

“Guaranty” means, collectively, (a) a document substantially in the form of Exhibit I and (b) each other
guaranty and guaranty supplement delivered pursuant to Section 2.16(b). 

  
 15 

 “Hazardous Materials” means all explosive or radioactive substances or
wastes and all hazardous or toxic substances, wastes or other pollutants, including petroleum or petroleum distillates, asbestos or asbestos-containing materials, polychlorinated biphenyls, radon gas, infectious or medical wastes and all other
substances or wastes of any nature regulated pursuant to any Environmental Law due to their toxic or deleterious nature. 

“Impacted Loans” has the meaning given to such term in Section 3.03. 

“Indebtedness” means, as to any Person at a particular time, without duplication, all of the following: 

(a)    all obligations of such Person for borrowed money; 

(b)    all obligations of such Person to pay the deferred purchase price of property or services (other than trade
accounts payable in the ordinary course of business); 
 (c)    all
non-contingent reimbursement or payment obligations of such Person arising under letters of credit (including standby and commercial), bankers’ acceptances, bank guaranties, shipside bonds, surety bonds
and similar instruments; 
 (d)    all obligations of such Person evidenced by bonds, debentures, notes, loan agreements
or other similar instruments; 
 (e)    capital or finance leases and Synthetic Lease Obligations; 

(f)    all indebtedness created or arising under any conditional sale or other title retention agreement, or incurred as
financing, in either case with respect to property acquired by the Person (even though the rights and remedies of the seller or bank under such agreement in the event of default are limited to repossession or sale of such property); and 

(g)    all indebtedness referred to in clauses (a) through (f) above (excluding prepaid interest
thereon) secured by a Lien on property owned or being purchased by such Person, whether or not such indebtedness shall have been assumed by such Person or is limited in recourse. 

For all purposes hereof, the Indebtedness of any Person shall include the Indebtedness of any partnership or joint venture (other than a joint
venture that is itself a corporation or limited liability company) in which such Person is a general partner or a joint venturer, unless such Indebtedness is expressly made non-recourse to such Person. The
amount of any capital or finance lease or Synthetic Lease Obligation as of any date shall be deemed to be the amount of Attributable Indebtedness in respect thereof as of such date. 

“Indemnified Liabilities” has the meaning set forth in Section 11.04. 

“Indemnified Taxes” means (a) Taxes, other than Excluded Taxes, imposed on or with respect to any payment made by or on
account of any obligation of any Loan Party under any Loan Document and (b) to the extent not otherwise described in clause (a), Other Taxes. 

  
 16 

 “Indemnitees” has the meaning set forth in
Section 11.04. 
 “Insolvency Proceeding” means (a) any case, action or proceeding before
any court or other Governmental Authority relating to bankruptcy, reorganization, insolvency, liquidation, receivership, dissolution, winding-up or relief of debtors, or (b) any general assignment for the
benefit of creditors, composition, marshalling of assets for creditors, or other similar arrangement in respect of its creditors generally or any substantial portion of its creditors; undertaken under any Debtor Relief Law. 

“Interest Payment Date” means, (a) as to any Loan other than a Base Rate Loan, the last day of each Interest Period
applicable to such Loan and the Maturity Date; provided, however that if any Interest Period exceeds three months, the respective dates that fall every three months after the beginning of such Interest Period shall also be Interest
Payment Dates; and (b) as to any Base Rate Loan, (i) the tenth calendar day following the end of each calendar quarter and (ii) the Maturity Date. 

“Interest Period” means, as to each Eurocurrency Rate Loan, the period commencing on the date such Eurocurrency Rate Loan is
disbursed or converted to or continued as a Eurocurrency Rate Loan and ending on the date one, two, three or six months thereafter, as selected by the applicable Borrower in its Committed Loan Notice; provided that: 

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

(b)    any Interest Period that begins on the last Business Day of a calendar month (or on a day for which there is no
numerically corresponding day in the calendar month at the end of such Interest Period) shall end on the last Business Day of the calendar month at the end of such Interest Period; and 

(c)    no Interest Period shall extend beyond the Maturity Date. 

“IRS” means the United States Internal Revenue Service. 

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

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

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

  
 17 

 “L/C Advance” means, with respect to each Lender, such Lender’s
funding of its participation in any L/C Borrowing in accordance with its Pro Rata Share. All L/C Advances shall be denominated in Dollars. 

“L/C Borrowing” means an extension of credit resulting from a drawing under any Letter of Credit which has not been
reimbursed on the date when made or refinanced as a Borrowing. All L/C Borrowings shall be denominated in Dollars. 
 “L/C Credit
Extension” means, with respect to any Letter of Credit, the issuance thereof or extension of the expiry date thereof, or the renewal or increase of the amount thereof. 

“L/C Issuer” means each of Bank of America, N.A., Barclays Bank PLC, Citibank, N.A., Wells Fargo Bank, National Association,
Goldman Sachs Bank USA, JPMorgan Chase Bank, N.A. and HSBC Bank USA, National Association, in each case, in its capacity as issuer of Letters of Credit hereunder, or any successor issuer of Letters of Credit hereunder and each Lender that shall have
become an L/C Issuer hereunder as provided in Section 2.03(n). If there is more than one L/C Issuer at any given time, the term L/C Issuer shall refer to the relevant L/C Issuers(s). 

“L/C Obligations” means, as at any date of determination, the aggregate undrawn amount of all outstanding Letters of Credit
plus the aggregate of all Unreimbursed Amounts, including all L/C Borrowings. For purposes of computing the amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with
Section 1.07. For all purposes of this Agreement, if on any date of determination a Letter of Credit has expired by its terms but any amount may still be drawn thereunder by reason of the operation of Rule 3.14 of the ISP,
such Letter of Credit shall be deemed to be “outstanding” in the amount so remaining available to be drawn. 

“Lender” has the meaning specified in the introductory paragraph hereto and, as the context requires, includes each L/C
Issuer. 
 “Lending Office” means, as to any Lender, the office or offices of such Lender described as such in such
Lender’s Administrative Questionnaire, or such other office or offices as a Lender may from time to time notify the Company and the Administrative Agent which office may include any Affiliate of such Lender or any domestic or foreign branch of
such Lender or such Affiliate. Unless the context otherwise requires each reference to a Lender shall include its applicable Lending Office. 

“Letter of Credit” means (a) any letter of credit issued hereunder and (b) each of the Existing Letters of Credit.
A Letter of Credit may be a commercial letter of credit or a standby letter of credit and may be issued in Dollars or in an Alternative Currency; provided that (i) Barclays Bank PLC and Goldman Sachs Bank USA shall only be required to
issue standby Letters of Credit and (ii) Letters of Credit denominated in Alternative Currencies shall be issued by Bank of America. 

  
 18 

 “Letter of Credit Application” means an application and agreement for the
issuance or amendment of a Letter of Credit in the form from time to time in use by the applicable L/C Issuer. 
 “Letter of Credit
Expiration Date” means the day that is five Business Days prior to the Maturity Date then in effect. 
 “Letter of Credit
Sublimit” means an amount equal to $175,000,000. The Letter of Credit Sublimit is part of, and not in addition to, the Aggregate Commitments. 

“LIBOR” has the meaning specified in the definition of Eurocurrency Base Rate. 

“Lien” means any mortgage, pledge, hypothecation, assignment, deposit arrangement, encumbrance, lien (statutory or other),
charge, or preference, priority or other security interest of any kind or nature whatsoever (including any conditional sale or other title retention agreement, and any financing lease having substantially the same economic effect as any of the
foregoing); provided that “Lien” shall not include (i) the interest of a lessor under an operating lease or (ii) the sale of accounts receivable. 

“Loan” means an extension of credit by a Lender to a Borrower under ARTICLE II in the form of a Committed Loan. 

“Loan Documents” means this Agreement, any Guaranty, any joinder agreement delivered pursuant to
Section 2.16 (including any Designated Borrower Notice or any Designated Borrower Request and Assumption Agreement) or 7.02(d), any Notes, Letter of Credit Applications and Letters of Credit and the Fee Letter. 

“Loan Parties” means, collectively, the Borrowers. 

“Local Time” means with respect to a Loan, Borrowing or Letter of Credit denominated in (a) Dollars, New York City time,
(b) Sterling or Euros, London time and (c) Canadian Dollars, Toronto time. 
 “London Banking Day” means any day
on which dealings in Dollar deposits are conducted by and between banks in the London interbank Eurodollar market. 
 “Margin
Stock” means “margin stock” as such term is defined in Regulation T, U or X of the FRB. 
 “Master
Agreement” has the meaning set forth in the definition of “Swap Contract.” 
 “Material Adverse Effect”
means (a) a material adverse change in, or a material adverse effect upon, the operations, business, properties or condition (financial or otherwise) of the Company and its Subsidiaries taken as a whole; (b) a material impairment of the
ability of any Borrower to perform its obligations under any Loan Document to which it is a party; or (c) a material adverse effect upon the legality, validity, binding effect or enforceability against any Borrower of any Loan Document to which
it is a party. 

  
 19 

 “Material Subsidiary” means, at any time, (a) any Subsidiary that is a
Borrower hereunder and (b) any other Subsidiary having at such time 10% or more of the Company’s consolidated total (gross) revenues for the preceding four fiscal quarter period, as of the last day of the preceding fiscal quarter based
upon the Company’s most recent annual or quarterly financial statements delivered to the Administrative Agent under Section 6.01. 

“Maturity Date” means the later of (a) September 25, 2024 or (b) if the term of this Agreement is extended pursuant
to Section 2.17, such extended termination date as determined pursuant to such Section; provided, however that, in each case, if such date is not a Business Day, the next preceding Business Day;
provided, further that with respect to any Non-Extending Lender, the Maturity Date of such Non-Extending Lender’s Commitment shall be the Existing
Maturity Date notwithstanding the extension of Commitments by any other Lender pursuant to Section 2.17. 

“McKesson Europe” means McKesson Europe AG, a stock corporation organized under the laws of Germany. 

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

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

“Net Worth” means the shareholders’ equity of the Company and its consolidated Subsidiaries on any date of determination
as set forth on the consolidated balance sheet of the Company and its Subsidiaries most recently delivered to the Administrative Agent on or prior to such date of determination pursuant to Section 6.01. 

“Non-Extending Lender” has the meaning specified in
Section 2.17. 
 “Note” means a promissory note executed by a Borrower in favor of a Lender
pursuant to Section 2.11, substantially in the form of Exhibit B with respect to Loans. 
 “Notice
Date” has the meaning specified in Section 2.17. 
 “Obligations” means all advances to,
and debts, liabilities, obligations, covenants and duties of, any Loan Party arising under any Loan Document or otherwise with respect to any Loan or Letter of Credit, whether direct or indirect (including those acquired by assumption), absolute or
contingent, due or to become due, now existing or hereafter arising and including interest and fees that accrue after the commencement by or against any Loan Party or any Affiliate thereof of any proceeding under any Debtor Relief Laws naming such
Person as the debtor in such proceeding, regardless of whether such interest and fees are allowed claims in such proceeding. 

  
 20 

 “OFAC” means the Office of Foreign Assets Control of the United States
Department of the Treasury. 
 “Organization Documents” means, with respect to (a) any corporation, the certificate or
articles of incorporation and the bylaws, (b) any limited liability company, the certificate of formation and limited liability company agreement or operating agreement, (c) any partnership, the certificate of formation and partnership
agreement, and (d) any organization incorporated or formed in any non-U.S. jurisdiction, constitutive documents with respect to such organization that are equivalent or comparable to the foregoing, as may
be applicable. 
 “Other Connection Taxes” means, with respect to any Recipient, Taxes imposed as a result of a present or
former connection between such Recipient and the jurisdiction imposing such Tax (other than connections arising from such Recipient having executed, delivered, become a party to, performed its obligations under, received payments under, received or
perfected a security interest under, engaged in any other transaction pursuant to or enforced any Loan Document, or sold or assigned an interest in any Loan or Loan Document). 

“Other Taxes” means all present or future stamp, court or documentary, intangible, recording, filing or similar Taxes that
arise from any payment made under, from the execution, delivery, performance, enforcement or registration of, from the receipt or perfection of a security interest under, or otherwise with respect to, any Loan Document, except any such Taxes that
are Other Connection Taxes imposed with respect to an assignment (other than an assignment made pursuant to Section 3.06). 

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

  
 21 

 “Participant Register” has the meaning specified in
Section 11.06(d)(ii). 
 “Participating Member State” means any member state of the European
Union that has the Euro as its lawful currency in accordance with legislation of the European Union relating to Economic and Monetary Union 

“PBGC” means the Pension Benefit Guaranty Corporation. 

“Pension Plan” means any “employee pension benefit plan” (as such term is defined in Section 3(2) of ERISA),
other than a Multiemployer Plan, that is subject to Title IV of ERISA and is sponsored or maintained by the Company or any ERISA Affiliate or to which the Company or any ERISA Affiliate contributes or has an obligation to contribute, or in the case
of a multiple employer or other plan described in Section 4064(a) of ERISA, has made contributions at any time during the immediately preceding five plan years. 

“Person” means any natural person, corporation, limited liability company, trust, joint venture, association, company,
partnership, Governmental Authority or other entity. 
 “PF2 JV” means PF2 NewCo LLC, a Delaware limited liability company,
formed on June 17, 2016. 
 “Plan” means any “employee benefit plan” (as such term is defined in
Section 3(3) of ERISA) established by any Borrower or, with respect to any such plan that is subject to Section 412 of the Code or Title IV of ERISA, any ERISA Affiliate. 

“Pro Rata Share” means, with respect to each Lender at any time, a fraction (expressed as a percentage, carried out to the
ninth decimal place), the numerator of which is the amount of the Commitment of such Lender at such time and the denominator of which is the amount of the Aggregate Commitments at such time; provided that if the Commitment of each Lender to
make Loans and the obligation of any L/C Issuer to make L/C Credit Extensions have been terminated pursuant to Section 8.02 or if the Aggregate Commitments have expired, then the Pro Rata Share of each Lender shall be
determined based on the Pro Rata Share of such Lender immediately prior to such termination and after giving effect to any subsequent assignments made pursuant to the terms hereof. The initial Pro Rata Share of each Lender is set forth opposite the
name of such Lender on Schedule 2.01 or in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable. 

“Protesting Lender” has the meaning set forth in Section 2.16. 

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

  
 22 

 “Qualified Receivables Transaction” means any transaction or series of
transactions entered into by the Company or any of its Subsidiaries pursuant to which the Company or any of its Subsidiaries sells, conveys or otherwise transfers to (i) a Receivables Subsidiary (in the case of a transfer by the Company or any
of its Subsidiaries) and (ii) any other Person (in the case of a transfer by a Receivables Subsidiary), or grants a security interest in (all of the following constituting “Receivables Program Assets”), any accounts receivable
(whether now existing or arising in the future) of the Company or any of its Subsidiaries, and any assets related thereto including, without limitation, all collateral securing such accounts receivable, all contracts and all guarantees or other
obligations in respect of such accounts receivable, proceeds of such accounts receivable and other assets which are customarily transferred or in respect of which security interests are customarily granted in connection with asset securitization
transactions involving accounts receivable. 
 “QFC” has the meaning assigned to the term “qualified financial
contract” in, and shall be interpreted in accordance with, 12 U.S.C. 5390(c)(8)(D). 
 “Rate Determination Date”
means two (2) Business Days prior to the commencement of such Interest Period (or such other day as is generally treated as the rate fixing day by market practice in such interbank market, as determined by the Administrative Agent;
provided that to the extent such market practice is not administratively feasible for the Administrative Agent, such other day as otherwise reasonably determined by the Administrative Agent). 

“Receivables Subsidiary” means a Subsidiary of the Company which engages in no activities other than in connection with the
financing of accounts receivable or inventory (a) no portion of the Indebtedness or any other obligations (contingent or otherwise) of which (i) is guaranteed by the Company or any Subsidiary of the Company (excluding guarantees of
obligations (other than the principal of, and interest on, Indebtedness) pursuant to representations, warranties, covenants and indemnities entered into in the ordinary course of business in connection with a Qualified Receivables Transaction),
(ii) is recourse or obligates the Company or any Subsidiary of the Company in any way other than pursuant to representations, warranties, covenants and indemnities entered into in the ordinary course of business in connection with a Qualified
Receivables Transaction or (iii) subjects any property or asset of the Company or any Subsidiary of the Company (other than accounts receivable or inventory and related assets as provided in the definition of “Qualified Receivables
Transaction”), directly or indirectly, contingently or otherwise, to the satisfaction thereof, other than pursuant to representations, warranties, covenants and indemnities entered into in the ordinary course of business in connection with a
Qualified Receivables Transaction, (b) with which neither the Company nor any Subsidiary of the Company has any material contract, agreement, arrangement or understanding other than on terms customary for securitization of receivables or
inventory and (c) with which neither the Company nor any Subsidiary of the Company has any obligations to maintain or preserve such Subsidiary’s financial condition or cause such Subsidiary to achieve certain levels of operating results.
CGSF Funding Corporation, a Delaware corporation, shall be deemed a Receivables Subsidiary. 
 “Recipient” means the
Administrative Agent, any Lender, any L/C Issuer or any other recipient of any payment to be made by or on account of any obligation of any Loan Party hereunder. 

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

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

  
 23 

 “Relevant Governmental Body” means the Federal Reserve Board and/or the
Federal Reserve Bank of New York, or a committee officially endorsed or convened by the Federal Reserve Board and/or the Federal Reserve Bank of New York for the purpose of recommending a benchmark rate to replace LIBOR in loan agreements similar to
this Agreement. 
 “Relevant Obligation” has the meaning set forth in Section 8.01(e). 

“Reportable Event” means any of the events set forth in Section 4043(c) of ERISA, other than events for which the 30 day
notice period has been waived. 
 “Request for Credit Extension” means (a) with respect to a Committed Borrowing,
conversion or continuation of Committed Loans, a Committed Loan Notice and (b) with respect to an L/C Credit Extension, a Letter of Credit Application. 

“Request Period” has the meaning specified in Section 2.17. 

“Required Lenders” means, as of any date of determination, Lenders having Total Credit Exposures representing more than 50%
of the Total Credit Exposures of all Lenders; provided that the Total Credit Exposures held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Required Lenders; provided, further
that, the amount of any Unreimbursed Amounts that such Defaulting Lender has failed to fund that have not been reallocated to and funded by another Lender shall be deemed to be held by the Lender that is the L/C Issuer, in making such determination.

 “Requirement of Law” means, as to any Person, any law (statutory or common), treaty, rule or regulation or
determination, decree or order of an arbitrator or of a Governmental Authority, in each case applicable to or binding upon the Person or any of its property or to which the Person or any of its property is subject, including but not limited to any
Environmental Law. 
 “Resignation Effective Date” has the meaning specified in Section 9.06.

 “Response Deadline” has the meaning specified in Section 2.17. 

“Responsible Officer” means the chief executive officer, president, chief financial officer, corporate vice president or the
treasurer of a Loan Party and, solely for purposes of notices given pursuant to Article II, any other officer, employee or other designated representative of the applicable Loan Party so designated by any of the foregoing officers in a notice to the
Administrative Agent or any other officer or employee of the applicable Loan Party designated in or pursuant to an agreement between the applicable Loan Party and the Administrative Agent. Any document delivered hereunder that is signed by a
Responsible Officer of a Loan Party shall be conclusively presumed to have been authorized by all necessary corporate, partnership and/or other action on the part of such Loan Party and such Responsible Officer shall be conclusively presumed to have
acted on behalf of such Loan Party. 

  
 24 

 “Revaluation Date” means (a) with respect to any Loan, each of the
following: (i) each date of a Borrowing of a Eurocurrency Rate Loan denominated in an Alternative Currency, (ii) each date of a continuation of a Eurocurrency Rate Loan denominated in an Alternative Currency pursuant to
Section 2.02, and (iii) such additional dates as the Administrative Agent shall determine or the Required Lenders shall require; and (b) with respect to any Letter of Credit, each of the following: (i) each
date of issuance of a Letter of Credit denominated in an Alternative Currency, (ii) each date of an amendment of any such Letter of Credit having the effect of increasing the amount thereof, (iii) each date of any payment by the L/C Issuer
under any Letter of Credit denominated in an Alternative Currency, and (iv) such additional dates as the Administrative Agent or the applicable L/C Issuer shall determine or the Required Lenders shall require. 

“Revolving Credit Exposure” means, as to any Lender at any time, the aggregate Outstanding Amount at such time of its
Committed Loans and the aggregate Outstanding Amount of such Lender’s participation in L/C Obligations at such time. 

“S&P” means Standard & Poor’s Financial Services LLC, a subsidiary of S&P Global Inc., and any
successor thereto. 
 “SEC” means the Securities and Exchange Commission, or any Governmental Authority succeeding to any
of its principal functions. 
 “SOFR” with respect to any day means the secured overnight financing rate published for such
day by the Federal Reserve Bank of New York, as the administrator of the benchmark (or a successor administrator) on the Federal Reserve Bank of New York’s website (or any successor source) and, in each case, that has been selected or
recommended by the Relevant Governmental Body. 
 “SOFR-Based Rate” means SOFR or Term SOFR. 

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

“Same Day Funds” means (a) with respect to disbursements and payments in Dollars, immediately available funds, and
(b) with respect to disbursements and payments in an Alternative Currency, same day or other funds as may be determined by the Administrative Agent or the L/C Issuer, as the case may be, to be customary in the place of disbursement or payment
for the settlement of international banking transactions in the relevant Alternative Currency. 
 “Sanction(s)” means any
sanction or restrictive measures enacted, administered, imposed or enforced by the United States Government (including without limitation, OFAC and the U.S. Department of State), the United Nations Security Council, the European Union, Her
Majesty’s Treasury (“HMT”) or Canada. 
 “Scheduled Unavailability Date” has the meaning specified in
Section 3.03(c)(ii). 

  
 25 

 “Specified L/C Sublimit” means, with respect to any L/C Issuer, (i) in
the case of Bank of America, $25,000,000, (ii) in the case of Barclays Bank PLC, $25,000,000, (iii) in the case of Citibank, N.A., $25,000,000, (iv) in the case of Wells Fargo Bank, National Association, $25,000,000 and, with respect to the Existing
Letters of Credit as of the Closing Date, the additional amount of such Existing Letters of Credit (provided that Wells Fargo Bank, National Association shall have no obligation to issue, extend or renew Letters of Credit the outstanding face amount
of which aggregate to in excess of $25,000,000), (v) in the case of Goldman Sachs Bank USA, $25,000,000, (vi) in the case of JPMorgan Chase Bank, N.A., $25,000,000, (vii) in the case of HSBC Bank USA, National Association, $25,000,000 or
(viii) in each case, such other amount as specified in the agreement pursuant to which such person becomes an L/C Issuer hereunder or, in each case, as each of the foregoing amounts may be decreased or increased from time to time with the
written consent of the Company and the L/C Issuers (provided that any increase in the Specified L/C Sublimit with respect to any L/C Issuer shall require the consent of only the Company and such L/C Issuer). Any successor L/C Issuer appointed
pursuant to Section 2.03(p) or (q) shall assume the Specified L/C Sublimit of such replaced or resigning L/C Issuer, as applicable. 

“Spot Rate” for a currency means the rate determined by the Administrative Agent or the applicable L/C Issuer, as applicable,
to be the rate quoted by the Person acting in such capacity as the spot rate for the purchase by such Person of such currency with another currency through its principal foreign exchange trading office at approximately 11:00 a.m. Local Time on the
date two Business Days prior to the date as of which the foreign exchange computation is made; provided that the Administrative Agent or the applicable L/C Issuer may obtain such spot rate from another financial institution designated
by the Administrative Agent or the L/C Issuer if the Person acting in such capacity does not have as of the date of determination a spot buying rate for any such currency; and provided, further that the applicable L/C Issuer may use
such spot rate quoted on the date as of which the foreign exchange computation is made in the case of any Letter of Credit denominated in an Alternative Currency. 

“Sterling” and “£” mean the lawful currency of the United Kingdom. 

“Subsidiary” of a Person means a corporation, partnership, joint venture, limited liability company, unlimited liability
company or other business entity of which a majority of the shares of securities or other interests having ordinary voting power for the election of directors or other governing body (other than securities or interests having such power only by
reason of the happening of a contingency) are at the time beneficially owned, or the management of which is otherwise controlled, directly, or indirectly through one or more intermediaries, or both, by such Person; provided, for the avoidance
of doubt, that, for so long as the Company does not have the power to elect a majority of the board of directors or other governing body of PF2 JV, neither PF2 JV nor any of its subsidiaries shall constitute a Subsidiary of the Company for purposes
of this Agreement. Unless otherwise specified, all references herein to a “Subsidiary” or to “Subsidiaries” shall refer to a Subsidiary or Subsidiaries of the Company. 

  
 26 

 “Swap Contract” means (a) any and all rate swap transactions, basis
swaps, credit derivative transactions, forward rate transactions, commodity swaps, commodity options, forward commodity contracts, equity or equity index swaps or options, bond or bond price or bond index swaps or options or forward bond or forward
bond price or forward bond index transactions, interest rate options, forward foreign exchange transactions, cap transactions, floor transactions, collar transactions, currency swap transactions, cross-currency rate swap transactions, currency
options, spot contracts, or any other similar transactions or any combination of any of the foregoing (including any options to enter into any of the foregoing), whether or not any such transaction is governed by or subject to any master agreement,
and (b) any and all transactions of any kind (other than Eligible ASRs, as defined below), and the related confirmations, which are subject to the terms and conditions of, or governed by, any form of master agreement published by the
International Swaps and Derivatives Association, Inc., any International Foreign Exchange Master Agreement, or any other master agreement relating to any of the foregoing (any such master agreement, together with any related schedules, a
“Master Agreement”), including any such obligations or liabilities under any Master Agreement (other than Eligible ASRs). “Eligible ASR” shall mean any accelerated share repurchase documented under a Master
Agreement. 
 “Swap Termination Value” means, in respect of any one or more Swap Contracts, after taking into account the
effect of any legally enforceable netting agreement relating to such Swap Contracts, (a) for any date on or after the date such Swap Contracts have been closed out and termination value(s) determined in accordance therewith, such termination
value(s), and (b) for any date prior to the date referenced in clause (a), the amount(s) determined as the mark-to-market value(s) for such Swap Contracts, as
determined based upon one or more mid-market or other readily available quotations provided by any recognized dealer in such Swap Contracts (which may include a Lender or any Affiliate of a Lender). 

“Synthetic Lease Obligation” means the monetary obligation of a Person under (a) a
so-called synthetic, off-balance sheet or tax retention lease, or (b) an agreement for the use or possession of property creating obligations that do not appear on
the balance sheet of such Person but which, upon the insolvency or bankruptcy of such Person, would be characterized as the indebtedness of such Person (without regard to accounting treatment). 

“TARGET2” means the Trans-European Automated Real-time Gross Settlement Express Transfer payment system which utilizes a
single shared platform and which was launched on November 19, 2007. 
 “TARGET Day” means any day on which TARGET2
(or, if such payment system ceases to be operative, such other payment system, if any, determined by the Administrative Agent to be a suitable replacement) is open for the settlement of payments in Euro. 

“Taxes” means all present or future taxes, levies, imposts, duties, deductions, withholdings (including backup withholding),
assessments, fees or other charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto. 

“Term SOFR” means the forward-looking term rate for any period that is approximately (as determined by the Administrative
Agent) as long as any of the Interest Period options set forth in the definition of “Interest Period” and that is based on SOFR and that has been selected or recommended by the Relevant Governmental Body, in each case as published on an
information service as selected by the Administrative Agent from time to time in its reasonable discretion. 

  
 27 

 “Total Capitalization” means, on any date, the sum of (a) Total Debt
and (b) the Net Worth on such date. 
 “Total Credit Exposure” means, as to any Lender at any time, the unused
Commitments and Revolving Credit Exposure of such Lender at such time. 
 “Total Debt” means, on any date, the difference
of (a) all Indebtedness of the Company and its Subsidiaries determined on a consolidated basis on such date, minus (b) Indebtedness incurred by any Receivables Subsidiary in connection with a Qualified Receivables Transaction. 

“Total Outstandings” means the aggregate Outstanding Amount of all Loans and all L/C Obligations. 

“Trade Date” has the meaning set forth in Section 11.06(b). 

“Type” means with respect to a Committed Loan, its character as a Base Rate Loan or a Eurocurrency Rate Loan. 

“UK Bail-In Legislation” means (to the extent that the United Kingdom is not an EEA
Member Country (excluding the proviso to the definition thereof) which has implemented, or implements, Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union) Part I of the United Kingdom Banking Act
2009 and any other law or regulation applicable in the United Kingdom relating to the resolution of unsound or failing banks, investment firms or other financial institutions or their affiliates (otherwise than through liquidation, administration or
other insolvency proceedings). 
 “United States” and “U.S.” mean the United States of America. 

“Unreimbursed Amount” has the meaning set forth in Section 2.03(c)(i). 

“Wholly-Owned Subsidiary” means any Subsidiary in which (other than directors’ qualifying shares required by law) 100%
of the capital stock of each class or other interests having ordinary voting power, and 100% of the capital stock of every other class or other interests, in each case, at the time as of which any determination is being made, is owned, beneficially
and of record, by the Company, or by one or more of the other Wholly-Owned Subsidiaries, or both. 
 “Write-Down and Conversion
Powers” means, (i) with respect to any EEA Resolution Authority, the write-down and conversion powers of such EEA Resolution Authority from time to time under the Bail-In Legislation for the
applicable EEA Member Country, which write-down and conversion powers are described in the EU Bail-In Legislation Schedule and (ii) the write down and conversion powers from time to time under the UK Bail-In Legislation. 
 1.02    Other Interpretive Provisions 

With reference to this Agreement and each other Loan Document, unless otherwise specified herein or in such other Loan Document: 

  
 28 

 (a)    The meanings of defined terms are equally applicable to the
singular and plural forms of the defined terms. 
 (b)    (i) The words “herein,”
“hereto,” “hereof” and “hereunder” and words of similar import when used in any Loan Document shall refer to such Loan Document as a whole and not to any particular provision thereof. 

(ii)    Article, Section, Exhibit and Schedule references are to the Loan Document in which
such reference appears. 
 (iii)    The term “including” is by way of example and not limitation. 

(iv)    The term “documents” includes any and all instruments, documents, agreements, certificates,
notices, reports, financial statements and other writings, however evidenced, whether in physical or electronic form. 

(c)    In the computation of periods of time from a specified date to a later specified date, the word
“from” means “from and including”; the words “to” and “until” each mean “to but excluding;” and the word “through” means “to and
including”. 
 (d)    Section headings herein and in the other Loan Documents are included for convenience of
reference only and shall not affect the interpretation of this Agreement or any other Loan Document. 
 (e)    Any
reference herein to a merger, transfer, consolidation, amalgamation, consolidation, assignment, sale, disposition or transfer, or similar term, shall be deemed to apply to a division of or by a limited liability company, or an allocation of assets
to a series of a limited liability company (or the unwinding of such a division or allocation), as if it were a merger, transfer, consolidation, amalgamation, consolidation, assignment, sale, disposition or transfer, or similar term, as applicable,
to, of or with a separate Person. Any division of a limited liability company shall constitute a separate Person hereunder (and each division of any limited liability company that is a Subsidiary, joint venture or any other like term shall also
constitute such a Person or entity). 
 1.03    Accounting Terms. (a) All accounting terms not specifically or
completely defined herein shall be construed in conformity with, and all financial data (including financial ratios and other financial calculations) required to be submitted pursuant to this Agreement shall be prepared in conformity with, GAAP
applied on a consistent basis, as in effect from time to time, applied in a manner consistent with that used in preparing the Audited Financial Statements, except as otherwise specifically prescribed herein. 

(b)    If at any time any change in GAAP would affect the computation of any financial ratio or requirement set forth in
any Loan Document, and either the Company or the Required Lenders shall so request, the Administrative Agent, the Lenders and the Company shall negotiate in good faith to amend such ratio or requirement to preserve the original intent thereof in
light of such change in GAAP (subject to the approval of the Required Lenders); provided that, until so amended, (i) such ratio or requirement shall continue to be computed in accordance with GAAP prior to such change therein and
(ii) the Company shall provide to the Administrative Agent and the Lenders financial statements and other documents required under this Agreement or as reasonably requested hereunder setting forth a reconciliation between calculations of such
ratio or requirement made before and after giving effect to such change in GAAP. 

  
 29 

 (c)    If the Company shall elect as of the end of any financial
reporting period to prepare financial statements in accordance with International Financial Reporting Standards, as published by the International Accounting Standards Board (“IFRS”), rather than GAAP, then, following delivery to
Administrative Agent of a completed Compliance Certificate attaching the information required to be delivered for such financial reporting period, the parties hereto shall use their best efforts to amend (in a manner mutually satisfactory to Lenders
and Borrowers) the thresholds or methods of calculation of any financial ratio or requirement set forth in any Loan Document such that compliance therewith is neither more nor less burdensome (as determined by the Required Lenders in their sole
discretion) to Borrowers as a result of such conversion to IFRS and, thereafter, all references in the Loan Documents to GAAP shall be deemed references to IFRS. 

(d)    All references herein to consolidated financial statements of the Borrower and its Subsidiaries or to the
determination of any amount for the Borrower and its Subsidiaries on a consolidated basis or any similar reference shall, in each case, be deemed to include each variable interest entity that such Borrower is required to consolidate pursuant to FASB
ASC 810 as if such variable interest entity were a Subsidiary as defined herein. 
 1.04    Rounding. Any financial ratios
required to be maintained by the Company pursuant to this Agreement shall be calculated by dividing the appropriate component by the other component, carrying the result to one place more than the number of places by which such ratio is expressed
herein and rounding the result up or down to the nearest number (with a rounding-up if there is no nearest number). 

1.05    References to Agreements and Laws. Unless otherwise expressly provided herein, (a) references to Organization
Documents, agreements (including the Loan Documents) and other contractual instruments shall be deemed to include all subsequent amendments, restatements, extensions, supplements and other modifications thereto, but only to the extent that such
amendments, restatements, extensions, supplements and other modifications are not prohibited by any Loan Document; and (b) references to any Law shall include all statutory and regulatory provisions consolidating, amending, replacing,
supplementing or interpreting such Law. 
 1.06    Times of Day. Unless otherwise specified, all references herein to
times of day shall be references to Pacific time (daylight or standard, as applicable). 
 1.07    Letter of Credit
Amounts. Unless otherwise specified herein, the amount of a Letter of Credit at any time shall be deemed to be the stated amount of such Letter of Credit in effect at such time; provided, however, that with respect to any Letter of
Credit that, by its terms or the terms of any Issuer Document related thereto, provides for one or more automatic increases in the stated amount thereof, the amount of such Letter of Credit shall be deemed to be the maximum stated amount of such
Letter of Credit after giving effect to all such increases, whether or not such maximum stated amount is in effect at such time. 

  
 30 

 1.08    Exchange Rates; Currency Equivalents. 

(a)     The Administrative Agent or the applicable L/C Issuer, as applicable, shall determine the Spot Rates as of
each Revaluation Date to be used for calculating Dollar Equivalent amounts of Credit Extensions and Outstanding Amounts denominated in Alternative Currencies. Such Spot Rates shall become effective as of such Revaluation Date and shall be the Spot
Rates employed in converting any amounts between the applicable currencies until the next Revaluation Date to occur. Except for purposes of financial statements delivered by Loan Parties hereunder or calculating financial covenants hereunder or
except as otherwise provided herein, the applicable amount of any currency (other than Dollars) for purposes of the Loan Documents shall be such Dollar Equivalent amount as so determined by the Administrative Agent or the applicable L/C Issuer, as
applicable. 
 (b)    Wherever in this Agreement in connection with a Borrowing, conversion, continuation or prepayment
of a Eurocurrency Rate Loan, the issuance, amendment or extension of a Letter of Credit or any assignment, any required minimum or multiple amount, is expressed in Dollars, but such Borrowing, Eurocurrency Rate Loan or Letter of Credit or any such
assignment is denominated in an Alternative Currency, such amount expressed in Dollars shall be deemed to be an amount expressed in the applicable Alternative Currency. 

(c)    The Administrative Agent does not warrant, nor accept responsibility, nor shall the Administrative Agent have any
liability with respect to the administration, submission or any other matter related to the rates in the definition of “Eurocurrency Base Rate” or “Eurocurrency Rate” or with respect to any comparable or successor rate thereto.

 1.09    Change of Currency. 

(a)    Each obligation of the Borrowers to make a payment denominated in the national currency unit of any member state of
the European Union that adopts the Euro as its lawful currency after the date hereof shall be redenominated into Euro at the time of such adoption. If, in relation to the currency of any such member state, the basis of accrual of interest expressed
in this Agreement in respect of that currency shall be inconsistent with any convention or practice in the London interbank market for the basis of accrual of interest in respect of the Euro, such expressed basis shall be replaced by such convention
or practice with effect from the date on which such member state adopts the Euro as its lawful currency; provided that if any Committed Borrowing in the currency of such member state is outstanding immediately prior to such date, such
replacement shall take effect, with respect to such Committed Borrowing, at the end of the then current Interest Period. 

(b)    Each provision of this Agreement shall be subject to such reasonable changes of construction as the Administrative
Agent may from time to time specify to be appropriate to reflect the adoption of the Euro by any member state of the European Union and any relevant market conventions or practices relating to the Euro. 

(c)    Each provision of this Agreement also shall be subject to such reasonable changes of construction as the
Administrative Agent may from time to time specify to be appropriate to reflect a change in currency of any other country and any relevant market conventions or practices relating to the change in currency. 

  
 31 

 ARTICLE II 

THE COMMITMENTS AND CREDIT EXTENSIONS 

2.01    Committed Loans. 

Subject to the terms and conditions set forth herein, each Lender severally agrees to make loans (each such loan, a “Committed
Loan”) to the Borrowers in Dollars or in one or more Alternative Currencies from time to time, on any Business Day during the Availability Period, in an aggregate amount not to exceed at any time outstanding the amount of such Lender’s
Commitment; provided, however, that after giving effect to any Borrowing, (i) the Total Outstandings shall not exceed the Aggregate Commitments, (ii) the Total Outstandings denominated in Alternative Currencies shall not
exceed the Alternative Currency Sublimit, (iii) the Revolving Credit Exposure of any Lender shall not exceed such Lender’s Commitment and (iv) the Total Outstandings of Designated Borrowers that are Foreign Subsidiaries of the
Company shall not exceed the Foreign Designated Borrower Sublimit. Within the limits of each Lender’s Commitment, and subject to the other terms and conditions hereof, the Borrowers may borrow under this Section 2.01,
prepay under Section 2.05, and reborrow under this Section 2.01. Committed Loans may be Base Rate Loans or Eurocurrency Rate Loans, as further provided herein. 

2.02    Borrowings, Conversions and Continuations of Committed Loans. 

(a)    Each Committed Borrowing, each conversion of Committed Loans from one Type to the other, and each continuation of
Eurocurrency Rate Loans shall be made upon the applicable Borrower’s irrevocable notice to the Administrative Agent, which may be given by telephone. Each Committed Loan Notice must be received by the Administrative Agent not later than 11:00
a.m. (i) three Business Days prior to the requested date of any Borrowing of, conversion to or continuation of Eurocurrency Rate Loans denominated in Dollars or of any conversion of Eurocurrency Rate Loans denominated in Dollars to Base Rate
Committed Loans, (ii) four Business Days prior to the requested date of any Borrowing or continuation of Eurocurrency Rate Loans denominated in Alternative Currencies and (iii) on the requested date of any Borrowing of Base Rate Committed
Loans. Each telephonic notice by a Borrower pursuant to this Section 2.02(a) must be confirmed promptly by delivery to the Agent of a written Committed Loan Notice, appropriately completed and signed by a Responsible
Officer of the applicable Borrower. Each Borrowing, conversion or continuation of Loans shall be in a principal amount of $5,000,000 or a whole multiple of $1,000,000 in excess thereof. Except as provided in Sections 2.03(c) and
2.04(c), each Committed Loan Notice (whether telephonic or written) shall specify (i) whether the applicable Borrower is requesting a Borrowing, a conversion of Committed Loans from one Type to the other, or a continuation of
Eurocurrency Rate Loans, (ii) the identity of the Borrower and the requested date of the Borrowing, conversion or continuation, as the case may be (which shall be a Business Day), (iii) the principal amount of Committed Loans to be
borrowed, converted or continued, (iv) the Type of Committed Loans to be borrowed or to which existing Committed Loans are to be converted, (v) if applicable, the duration of the Interest Period with respect thereto and (vi) the
requested currency of such Borrowing. If the applicable Borrower fails to specify a currency in a Committed Loan Notice requesting a Borrowing, then the Committed Loan so requested shall be made in Dollars. If the Borrower fails to specify a Type of
Committed Loan in a Committed Loan Notice or if the Borrower fails to give a timely notice requesting a conversion or continuation, then the applicable Committed Loans shall be made as, or converted to, Base Rate Loans; provided,
however, that in the case of a failure to timely request a continuation of Committed Loans denominated in Sterling or Euro, such Loans shall be continued as Eurocurrency Rate Loans in their original currency with an Interest Period of one
month. Any such automatic conversion to Base Rate Loans shall be effective as of the last day of the Interest Period then in effect with respect to the applicable Eurocurrency Rate Loans. If the Borrower requests a Borrowing of, conversion to, or
continuation of Eurocurrency Rate Loans in any such Committed Loan Notice, but fails to specify an Interest Period, they will be deemed to have specified an Interest Period of one month. No Committed Loan may be converted to or continued as a Loan
denominated in a different currency but instead must be prepaid in the original currency of such Committed Loan and reborrowed in the other currency. 

  
 32 

 (b)    Following receipt of a Committed Loan Notice, the Administrative
Agent shall promptly notify each Lender of the amount (and currency) of its Pro Rata Share of the applicable Loans, and if no timely notice of a conversion or continuation is provided by the applicable Borrower, the Administrative Agent shall notify
each Lender of the details of any automatic conversion to Base Rate Loans, or continuation of Committed Loans denominated in Sterling or Euro, in each case described in Section 2.02(a). In the case of a Borrowing, each
Lender shall make the amount of its Loan available to the Administrative Agent in Same Day Funds at the Administrative Agent’s Office not later than 1:00 p.m. in the case of any Committed Loan denominated in Dollars, and not later than the
Applicable Time specified by the Administrative Agent in the case of any Committed Loan in an Alternative Currency, in each case on the Business Day specified in the applicable Committed Loan Notice. Upon satisfaction of the applicable conditions
set forth in Section 4.03 (and, if such Borrowing is the initial Credit Extension, Section 4.01), the Agent shall make all funds so received available to the applicable Borrower in like funds as
received by the Agent either by (i) crediting the account of the such Borrower on the books of Bank of America with the amount of such funds or (ii) wire transfer of such funds, in each case in accordance with instructions provided to (and
reasonably acceptable to) the Agent by the applicable Borrower; provided, however, that if, on the date the Committed Loan Notice with respect to such Borrowing is given by a Borrower, there are unpaid amounts due in respect of L/C
Borrowings outstanding, then the proceeds of such Borrowing shall be applied, first to the payment in full of any such unpaid amounts and L/C Borrowings, and second, to the applicable Borrower as provided above. 

(c)    Except as otherwise provided herein, a Eurocurrency Rate Loan may be continued or converted only on the last day of
an Interest Period for such Eurocurrency Rate Loan. During the existence of a Default, no Loans may be requested as, converted to or continued as Eurocurrency Rate Loans (whether in Dollars or any Alternative Currency) without the consent of the
Required Lenders, and the Required Lenders may demand that any or all of the then outstanding Eurocurrency Rate Loans denominated in an Alternative Currency be prepaid, or redenominated into Dollars in the amount of the Dollar Equivalent thereof, on
the last day of the then current Interest Period with respect thereto. 

  
 33 

 (d)    The Administrative Agent shall promptly notify the Borrowers and
the Lenders of the interest rate applicable to any Interest Period for Eurocurrency Rate Loans upon determination of such interest rate. The determination of the Eurocurrency Rate by the Administrative Agent shall be conclusive in the absence of
manifest error. At any time that Base Rate Loans are outstanding, the Administrative Agent shall notify the Borrowers and the Lenders of any change in Bank of America’s prime rate used in determining the Base Rate promptly following the public
announcement of such change. 
 (e)    After giving effect to all Borrowings, all conversions of Committed Loans from
one Type to the other, and all continuations of Committed Loans as the same Type, there shall not be more than ten Interest Periods in effect at any time with respect to Committed Loans. 

2.03    Letters of Credit. 

(a)    The Letter of Credit Commitment. 

(i)    Subject to the terms and conditions set forth herein, (A) each L/C Issuer agrees, in reliance upon the
agreements of the Lenders set forth in this Section 2.03, (1) from time to time on any Business Day during the period from the date hereof until the Letter of Credit Expiration Date, to issue Letters of Credit
denominated in Dollars or one or more Alternative Currencies for the account of the Borrowers or certain Subsidiaries, and to amend or extend Letters of Credit previously issued by it, in accordance with Section 2.03(b),
and (2) to honor drafts under the Letters of Credit; and (B) the Lenders severally agree to participate in Letters of Credit issued for the account of the Borrowers; provided that after giving effect to any L/C Credit Extension with
respect to any Letter of Credit (i) the Total Outstandings shall not exceed the Aggregate Commitments, (ii) the Total Outstandings denominated in Alternative Currencies shall not exceed the Alternative Currency Sublimit, (iii) the
Revolving Credit Exposure of any Lender shall not exceed such Lender’s Commitment, (iv) the Outstanding Amount of the L/C Obligations shall not exceed the Letter of Credit Sublimit, (v) with respect to the applicable L/C Issuer, the
stated amount of all outstanding Letters of Credit issued by such L/C Issuer shall not exceed the applicable Specified L/C Sublimit of such L/C Issuer then in effect and (vi) in the case of the Lender acting as the L/C Issuer with respect to
such Letter of Credit (whether directly or through an Affiliate), unless such Lender shall agree otherwise in its sole discretion, such Lender’s Revolving Credit Exposure plus (without duplication) the aggregate face amount of outstanding
Letters of Credit issued by such L/C Issuer shall not exceed such Lender’s Commitment. Within the foregoing limits, and subject to the terms and conditions hereof, each Borrower’s ability to obtain Letters of Credit shall be fully
revolving, and accordingly each Borrower may, during the foregoing period, obtain Letters of Credit to replace Letters of Credit that have expired or that have been drawn upon and reimbursed. 

  
 34 

 (ii)    An L/C Issuer shall be under no obligation to issue any Letter
of Credit if: 
 (A)    any order, judgment or decree of any Governmental Authority or arbitrator shall by its terms
purport to enjoin or restrain such L/C Issuer from issuing such Letter of Credit, or any Law applicable to such L/C Issuer or any request or directive (whether or not having the force of law) from any Governmental Authority with jurisdiction over
such L/C Issuer shall prohibit, or request that such L/C Issuer refrain from, the issuance of letters of credit generally or such Letter of Credit in particular or shall impose upon such L/C Issuer with respect to such Letter of Credit any
restriction, reserve or capital requirement (for which such L/C Issuer is not otherwise compensated hereunder) not in effect on the date hereof, or shall impose upon such L/C Issuer any unreimbursed loss, cost or expense which was not applicable on
the date hereof and which such L/C Issuer in good faith deems material to it; 
 (B)    the issuance of such Letter of
Credit would violate one or more policies of such L/C Issuer applicable to letters of credit and letter of credit applicants generally; 

(C)    subject to Section 2.03(b)(iii), the expiry date of such requested Letter of Credit
would occur more than twelve months after the date of issuance or last extension, unless the Required Lenders have approved such expiry date; 

(D)    the expiry date of such requested Letter of Credit would occur after the Letter of Credit Expiration Date, unless
arrangements have been made to cash collateralize such Letter of Credit on or before such Letter of Credit Expiration Date or all the Lenders have approved such expiry date; 

(E)    such Letter of Credit is in an initial amount less than $100,000, in the case of a commercial Letter of Credit, or
$500,000, in the case of a standby Letter of Credit, or is to be denominated in a currency other than Dollars or an Alternative Currency; provided that the $500,000 minimum amount relating to a standby Letter of Credit shall not be applicable
if the applicable Borrower pays to such L/C Issuer in respect of such Letter of Credit an additional issuance fee in an amount to be agreed between such Borrower and such L/C Issuer from time to time; or 

(F)    a default of any Lender’s obligations to fund under Section 2.03(c) exists or any
Lender is at such time a Defaulting Lender hereunder, unless (i) the applicable Borrower shall have Cash Collateralized an amount equal to such Lender’s Pro Rata Share of the full amount of such Letter of Credit, provided that the Cash
Collateral in respect of such Lender’s Pro Rata Share shall be released to such Borrower promptly upon request after the effective date of the replacement of such Lender in accordance with Section 11.15, or
(ii) such L/C Issuer has otherwise entered into satisfactory arrangements with such Borrower or such Lender to eliminate such L/C Issuer’s actual or potential Fronting Exposure. 

(iii)    An L/C Issuer shall be under no obligation to amend any Letter of Credit if (A) such L/C Issuer would have
no obligation at such time to issue such Letter of Credit in its amended form under the terms hereof, or (B) the Beneficiary of such Letter of Credit does not accept the proposed amendment to such Letter of Credit. 

  
 35 

 (iv)    On and after the date hereof, the Existing Letters of Credit
shall be deemed for all purposes, including for purposes of the fees and charges to be collected pursuant to this Section 2.03 for periods on and after the date hereof, and reimbursement of costs and expenses to the extent
provided herein, to be Letters of Credit outstanding under this Agreement and entitled to the benefits of this Agreement and the other Loan Documents, and shall be governed by the applications and agreements pertaining thereto and by this Agreement;
provided, however, that, notwithstanding any other provision of this Agreement, no fees with respect to the initial issuance of the Existing Letters of Credit shall be due hereunder. 

(b)    Procedures for Issuance and Amendment of Letters of Credit; Auto-Extension Letters of Credit. 

(i)    Each Letter of Credit shall be issued or amended, as the case may be, upon the request of the applicable Borrower
delivered to the L/C Issuer (with a copy to the Administrative Agent) in the form of a Letter of Credit Application, appropriately completed and signed by a Responsible Officer of such Borrower. Such Letter of Credit Application must be received by
the L/C Issuer and the Administrative Agent not later than 11:00 a.m. at least three Business Days (or such later date and time as the Administrative Agent and the L/C Issuer may agree in a particular instance in their sole discretion) prior to the
proposed issuance date or date of amendment, as the case may be. In the case of a request for an initial issuance of a Letter of Credit, such Letter of Credit Application shall specify in form and detail satisfactory to the L/C Issuer: (A) the
proposed issuance date of the requested Letter of Credit (which shall be a Business Day); (B) the amount thereof; (C) the expiry date thereof; (D) the name and address of the Beneficiary thereof; (E) the documents to be presented
by such Beneficiary in case of any drawing thereunder; (F) the full text of any certificate to be presented by such Beneficiary in case of any drawing thereunder; (G) the purpose and nature of the requested Letter of Credit; (H) the
proposed currency and (I) such other matters as the L/C Issuer may require. In the case of a request for an amendment of any outstanding Letter of Credit, such Letter of Credit Application shall specify in form and detail satisfactory to the
L/C Issuer (A) the Letter of Credit to be amended; (B) the proposed date of amendment thereof (which shall be a Business Day); (C) the nature of the proposed amendment; and (D) such other matters as the L/C Issuer may require.
Additionally, the applicable Borrower shall furnish to the L/C Issuer and the Administrative Agent such other documents and information pertaining to such requested Letter of Credit issuance or amendment, including any Issuer Documents, as the L/C
Issuer or the Administrative Agent may require. 
 (ii)    Promptly after receipt of any Letter of Credit Application,
the L/C Issuer will confirm with the Administrative Agent (by telephone or in writing) that the Administrative Agent has received a copy of such Letter of Credit Application from the applicable Borrower and, if not, the L/C Issuer will provide the
Administrative Agent with a copy thereof. Unless the L/C Issuer has received written notice from any Lender, the Administrative Agent or any Loan Party, at least one Business Day prior to the requested date of issuance or amendment of the applicable
Letter of Credit, that one or more applicable conditions contained in ARTICLE IV shall not then be satisfied, then, subject to the terms and conditions hereof, the L/C Issuer shall, on the requested date, issue a Letter of Credit for the
account of the applicable Borrower (or the applicable Subsidiary) or enter into the applicable amendment, as the case may be, in each case in accordance with the L/C Issuer’s usual and customary business practices. Immediately upon the issuance
of each Letter of Credit, each Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the L/C Issuer a risk participation in such Letter of Credit in an amount equal to the product of such Lender’s Pro
Rata Share times the amount of such Letter of Credit. 

  
 36 

 (iii)    If the applicable Borrower so requests in any applicable Letter
of Credit Application, the L/C Issuer shall issue a Letter of Credit that has automatic extension provisions (each, an “Auto-Extension Letter of Credit”); provided that any such Auto-Extension Letter of Credit must permit the
L/C Issuer to prevent any such extension at least once in each twelve-month period (commencing with the date of issuance of such Letter of Credit) by giving prior notice to the Beneficiary thereof not later than a day (the “Non-Extension Notice Date”) in each such twelve-month period to be agreed upon at the time such Letter of Credit is issued; provided, further that the L/C issuer shall not exercise its right
to prevent any such renewal unless the L/C Issuer determines that it would have no obligation at such time to issue such Letter of Credit in its renewed form under the terms of this Agreement. Unless otherwise directed by the L/C Issuer, the
applicable Borrower shall not be required to make a specific request to the L/C Issuer for any such extension. Once an Auto-Extension Letter of Credit has been issued, the Lenders shall be deemed to have authorized (but may not require) the L/C
Issuer to permit the extension of such Letter of Credit at any time to an expiry date not later than the Letter of Credit Expiration Date; provided, however, that the L/C Issuer shall not permit any such extension if (A) the L/C
Issuer has determined that it would not be permitted, or would have no obligation, at such time to issue such Letter of Credit in its revised form (as extended) under the terms hereof (by reason of the provisions of clause (ii) of
Section 2.03(a) or otherwise), or (B) it has received notice (which may be by telephone or in writing) on or before the day that is seven Business Days before the Non-Extension
Notice Date (1) from the Administrative Agent that the Required Lenders have elected not to permit such extension or (2) from the Administrative Agent, any Lender or the applicable Borrower that one or more of the applicable conditions
specified in Section 4.03 is not then satisfied, and in each such case directing the L/C Issuer not to permit such extension. 

(iv)    Promptly after its delivery of any Letter of Credit or any amendment to a Letter of Credit to an advising bank
with respect thereto or to the Beneficiary thereof, the L/C Issuer will also deliver to the applicable Borrower and the Administrative Agent a true and complete copy of such Letter of Credit or amendment. 

  
 37 

 (c)    Drawings and Reimbursements; Funding of Participations.

 (i)    Upon receipt from the Beneficiary of any Letter of Credit of any notice of a drawing under such Letter of
Credit, the L/C Issuer shall notify the applicable Borrower and the Administrative Agent thereof; provided that any failure to give or delay in giving such notice shall not relieve the applicable Borrower of its obligation to reimburse such
L/C Issuer with respect to any such disbursement. In the case of a Letter of Credit denominated in an Alternative Currency, the applicable Borrower shall reimburse the L/C Issuer in such Alternative Currency, unless (A) the L/C Issuer (at its
option) shall have specified in such notice that it will require reimbursement in Dollars, or (B) in the absence of any such requirement for reimbursement in Dollars, the applicable Borrower shall have notified the L/C Issuer promptly following
receipt of the notice of drawing that applicable Borrower will reimburse the L/C Issuer in Dollars. In the case of any such reimbursement in Dollars of a drawing under a Letter of Credit denominated in an Alternative Currency, the L/C Issuer shall
notify the applicable Borrower of the Dollar Equivalent of the amount of the drawing promptly following the determination thereof. Not later than 12:00 noon Local Time on the Business Day following the date of any payment by the L/C Issuer under a
Letter of Credit to be reimbursed in Dollars, or the Applicable Time (to be specified by the L/C Issuer to the applicable Borrower prior to such date of payment) on the date of any payment by the L/C Issuer under a Letter of Credit to be reimbursed
in an Alternative Currency (each such date, an “Honor Date”), such Borrower shall reimburse the L/C Issuer through the Administrative Agent in an amount equal to the amount of such drawing. In the event that (A) a drawing
denominated in an Alternative Currency is to be reimbursed in Dollars pursuant to the second sentence in this Section 2.03(c)(i) and (B) the Dollar amount paid by the applicable Borrower, whether on or after the Honor
Date, shall not be adequate on the date of that payment to purchase in accordance with normal banking procedures a sum denominated in the Alternative Currency equal to the drawing, the applicable Borrower agrees, as a separate and independent
obligation, to indemnify the L/C Issuer for the loss resulting from its inability on that date to purchase the Alternative Currency in the full amount of the drawing. If the applicable Borrower fails to so reimburse the L/C Issuer by such time, the
Administrative Agent shall promptly notify each Lender of the Honor Date, the amount of the unreimbursed drawing (expressed in Dollars in the amount of the Dollar Equivalent thereof in the case of a Letter of Credit denominated in an Alternative
Currency) (the “Unreimbursed Amount”), and the amount of such Lender’s Pro Rata Share thereof. In such event, the applicable Borrower shall be deemed to have requested a Borrowing of Base Rate Loans to be disbursed on the Honor
Date in an amount equal to the Unreimbursed Amount, without regard to the minimum and multiples specified in Section 2.02 for the principal amount of Base Rate Loans, but subject to the amount of the unutilized portion of
the Aggregate Commitments and the conditions set forth in Section 4.03 (other than the delivery of a Committed Loan Notice). Any notice given by the L/C Issuer or the Administrative Agent pursuant to this
Section 2.03(c)(i) may be given by telephone if immediately confirmed in writing; provided that the lack of such an immediate confirmation shall not affect the conclusiveness or binding effect of such notice. 

(ii)    Each Lender shall upon any notice pursuant to Section 2.03(c)(i) make funds available to
the Administrative Agent for the account of the L/C Issuer at the Administrative Agent’s Office for Dollar denominated payments in an amount equal to its Pro Rata Share of the Unreimbursed Amount not later than 1:00 p.m. Local Time on the
Business Day specified in such notice by the Administrative Agent, whereupon, subject to the provisions of Section 2.03(c)(iii), each Lender that so makes funds available shall be deemed to have made a Base Rate Committed
Loan to the applicable Borrower in such amount. The Administrative Agent shall remit the funds so received to the L/C Issuer in Dollars. 

  
 38 

 (iii)    With respect to any Unreimbursed Amount that is not fully
refinanced by a Borrowing of Base Rate Loans because the conditions set forth in Section 4.03 cannot be satisfied or for any other reason, the applicable Borrower shall be deemed to have incurred from the L/C Issuer an L/C
Borrowing in the amount of the Unreimbursed Amount that is not so refinanced, which L/C Borrowing shall be due and payable on demand (together with interest) and shall bear interest at the Default Rate. In such event, each Lender’s payment to
the Administrative Agent for the account of the L/C Issuer pursuant to Section 2.03(c)(ii) shall be deemed payment in respect of its participation in such L/C Borrowing and shall constitute an L/C Advance from such Lender
in satisfaction of its participation obligation under this Section 2.03. 
 (iv)    Until each
Lender funds its Committed Loan or L/C Advance pursuant to this Section 2.03(c) to reimburse the L/C Issuer for any amount drawn under any Letter of Credit, interest in respect of such Lender’s Pro Rata Share of such
amount shall be solely for the account of the L/C Issuer. 
 (v)    Each Lender’s obligation to make Committed
Loans or L/C Advances to reimburse the L/C Issuer for amounts drawn under Letters of Credit, as contemplated by this 2.03(c), shall be absolute and unconditional and shall not be affected by any circumstance, including (A) any setoff,
counterclaim, recoupment, defense or other right which such Lender may have against the L/C Issuer, the applicable Borrower or any other Person for any reason whatsoever; (B) the occurrence or continuance of a Default, or (C) any other
occurrence, event or condition, whether or not similar to any of the foregoing; provided, however, that each Lender’s obligation to make Committed Loans pursuant to this Section 2.03(c) is subject to the
conditions set forth in Section 4.03 (other than delivery by the applicable Borrower of a Committed Loan Notice). No such making of an L/C Advance shall relieve or otherwise impair the obligation of the applicable Borrower
to reimburse the L/C Issuer for the amount of any payment made by the L/C Issuer under any Letter of Credit, together with interest as provided herein. 

(vi)    If any Lender fails to make available to the Administrative Agent for the account of the L/C Issuer any amount
required to be paid by such Lender pursuant to the foregoing provisions of this Section 2.03(c) by the time specified in Section 2.03(c)(ii), the L/C Issuer shall be entitled to recover from such
Lender (acting through the Administrative Agent), on demand, such amount with interest thereon for the period from the date such payment is required to the date on which such payment is immediately available to the L/C Issuer at a rate per annum
equal to the applicable Overnight Rate from time to time in effect, plus any administrative, processing or similar fees customarily charged by the L/C Issuer in connection with the foregoing. A certificate of the L/C Issuer submitted to any Lender
(through the Administrative Agent) with respect to any amounts owing under this clause (vi) shall be conclusive absent manifest error. 

(d)    Repayment of Participations. 

(i)    At any time after the L/C Issuer has made a payment under any Letter of Credit and has received from any Lender
such Lender’s L/C Advance in respect of such payment in accordance with Section 2.03(c), if the Administrative Agent receives for the account of the L/C Issuer any payment in respect of the related Unreimbursed Amount
or interest thereon (whether directly from the applicable Borrower or otherwise, including proceeds of Cash Collateral applied thereto by the Administrative Agent), the Administrative Agent will distribute to such Lender its Pro Rata Share thereof
(appropriately adjusted, in the case of interest payments, to reflect the period of time during which such Lender’s L/C Advance was outstanding) in Dollars and in the same funds as those received by the Administrative Agent. 

  
 39 

 (ii)    If any payment received by the Administrative Agent for the
account of the L/C Issuer pursuant to Section 2.03(c)(i) is required to be returned under any of the circumstances described in Section 11.05 (including pursuant to any settlement entered into by
the L/C Issuer in its discretion), each Lender shall pay to the Administrative Agent for the account of the L/C Issuer its Pro Rata Share thereof on demand of the Administrative Agent, plus interest thereon from the date of such demand to the date
such amount is returned by such Lender, at a rate per annum equal to the applicable Overnight Rate from time to time in effect. The obligations of the Lenders under this clause shall survive the payment in full of the Obligations and the termination
of this Agreement. 
 (e)    Obligations Absolute. The obligation of the applicable Borrower to reimburse the L/C
Issuer for each drawing under each Letter of Credit and to repay each L/C Borrowing shall be absolute, unconditional and irrevocable, and shall be paid strictly in accordance with the terms of this Agreement under all circumstances, including the
following: 
 (i)    any lack of validity or enforceability of such Letter of Credit, this Agreement, or any other Loan
Document; 
 (ii)    the existence of any claim, counterclaim, setoff, defense or other right that the applicable
Borrower or any Subsidiary may have at any time against any Beneficiary or any transferee of such Letter of Credit (or any Person for whom any such Beneficiary or any such transferee may be acting), the L/C Issuer or any other Person, whether in
connection with this Agreement, the transactions contemplated hereby or by such Letter of Credit or any agreement or instrument relating thereto, or any unrelated transaction; 

(iii)    any draft, demand, certificate or other document presented under such Letter of Credit proving to be forged,
fraudulent, invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; or any loss or delay in the transmission or otherwise of any document required in order to make a drawing under such Letter of
Credit; 
 (iv)    any payment by the L/C Issuer under such Letter of Credit against presentation of a draft or
certificate that does not strictly comply with the terms of such Letter of Credit; or any payment made by the L/C Issuer under such Letter of Credit to any Person purporting to be a trustee in bankruptcy, debtor-in-possession, assignee for the benefit of creditors, liquidator, receiver or other representative of or successor to any Beneficiary or any transferee of such Letter of Credit, including any arising
in connection with any proceeding under any Debtor Relief Law; 
 (v)     any adverse change in the relevant exchange
rates or in the availability of the relevant Alternative Currency to the Company or any Subsidiary or in the relevant currency markets generally; or 

  
 40 

 (vi)    any other circumstance or happening whatsoever, whether or not
similar to any of the foregoing, including any other circumstance that might otherwise constitute a defense available to, or a discharge of, the applicable Borrower or any Subsidiary. 

The applicable Borrower shall promptly examine a copy of each Letter of Credit and each amendment thereto that is delivered to it and, in the
event of any claim of noncompliance with the Company’s instructions or other irregularity, the Company will immediately notify the L/C Issuer. Each Borrower shall be conclusively deemed to have waived any such claim against the L/C Issuer and
its correspondents unless such notice is given as aforesaid. 
 (f)    Role of L/C Issuer. Each Lender and each
Borrower agrees that, in paying any drawing under a Letter of Credit, the L/C Issuer shall not have any responsibility to obtain any document (other than any sight draft, certificates and documents expressly required by the Letter of Credit) or to
ascertain or inquire as to the validity or accuracy of any such document or the authority of the Person executing or delivering any such document. None of the L/C Issuer, the Administrative Agent, any of their respective Related Parties nor any
correspondent, participant or assignee of the L/C Issuer shall be liable to any Lender for (i) any action taken or omitted in connection herewith at the request or with the approval of the Lenders or the Required Lenders, as applicable;
(ii) any action taken or omitted in the absence of gross negligence or willful misconduct as determined by a court of competent jurisdiction by final and nonappealable judgment; or (iii) the due execution, effectiveness, validity or
enforceability of any document or instrument related to any Letter of Credit or Issuer Document. Each Borrower hereby assumes all risks of the acts or omissions of any Beneficiary or transferee with respect to its use of any Letter of Credit;
provided, however, that this assumption is not intended to, and shall not, preclude the applicable Borrower’s pursuing such rights and remedies as it may have against the Beneficiary or transferee at law or under any other
agreement. None of the L/C Issuer, the Administrative Agent, any of their respective Related Parties nor any correspondent, participant or assignee of the L/C Issuer shall be liable or responsible for any of the matters described in clauses
(i) through (vi) of Section 2.03(e); provided, however, that anything in such clauses to the contrary notwithstanding, the applicable Borrower may have a claim against the L/C Issuer, and the L/C
Issuer may be liable to such Borrower, to the extent, but only to the extent, of any direct, as opposed to consequential or exemplary, damages suffered by such Borrower which such Borrower proves were caused by, as determined by a court of competent
jurisdiction by final and nonappealable judgment, the L/C Issuer’s willful misconduct or gross negligence or the L/C Issuer’s willful failure to pay under any Letter of Credit after the presentation to it by the Beneficiary of a sight
draft and certificate(s) strictly complying with the terms and conditions of a Letter of Credit. In furtherance and not in limitation of the foregoing, the L/C Issuer may accept documents that appear on their face to be in order, without
responsibility for further investigation, regardless of any notice or information to the contrary, and the L/C Issuer shall not be responsible for the validity or sufficiency of any instrument transferring or assigning or purporting to transfer or
assign a Letter of Credit or the rights or benefits thereunder or proceeds thereof, in whole or in part, which may prove to be invalid or ineffective for any reason. 

  
 41 

 (g)    Cash Collateral. Upon the request of the Administrative
Agent, (i) if the L/C Issuer has honored any full or partial drawing request under any Letter of Credit and such drawing has resulted in an L/C Borrowing or (ii) if, as of the Letter of Credit Expiration Date, any L/C Obligation for any
reason remains outstanding, the applicable Borrowers shall, in each case, immediately Cash Collateralize the then Outstanding Amount of all L/C Obligations. Sections 2.03(a)(ii)(F), 2.05, 2.18(a)(v) and 8.02(c) set forth certain
additional requirements to deliver Cash Collateral hereunder. For purposes of this Sections 2.03, 2.05, 2.18(a)(v) and Section 8.02(c), “Cash Collateralize” means to pledge and
deposit with or deliver to the Administrative Agent, for the benefit of the L/C Issuer and the Lenders, as collateral for the L/C Obligations, as applicable, cash or deposit account balances pursuant to documentation in form and substance
satisfactory to the Administrative Agent and the L/C Issuer (which documents are hereby consented to by the Lenders). Derivatives of such term have corresponding meanings. Each Borrower hereby grants to the Administrative Agent for the benefit of
the L/C Issuer and the Lenders, a security interest in all such cash, deposit accounts and all balances therein and all proceeds of the foregoing. Cash Collateral shall be maintained in blocked, non-interest
bearing deposit accounts at Bank of America. For purposes of this Section 2.03, “Cash Collateral” means the cash and deposit account balances pledged and deposited with or delivered to the Agent, pursuant
to a requirement to Cash Collateralize the L/C Obligations. Additionally, if the Administrative Agent notifies the Company at any time that the Outstanding Amount of all L/C Obligations at such time exceeds the Letter of Credit Sublimit then in
effect, then, within two Business Days after receipt of such notice, the Company shall provide Cash Collateral for the Outstanding Amount of the L/C Obligations in an amount not less than the amount by which the Outstanding Amount of all L/C
Obligations exceeds the Letter of Credit Sublimit. 
 (h)    Applicability of ISP and UCP. Unless otherwise
expressly agreed by the L/C Issuer and the applicable Borrower when a Letter of Credit is issued (including any such agreement applicable to an Existing Letter of Credit), (i) the rules of the ISP, with the exception of Rule 5.09 thereof, shall
apply to each standby Letter of Credit, and (ii) the rules of the Uniform Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce at the time of issuance shall apply to each commercial
Letter of Credit. 
 (i)    Letter of Credit Fees. The applicable Borrower shall pay to the Administrative Agent
for the account of each Lender in accordance with its Pro Rata Share a letter of credit fee for each Letter of Credit equal to the Applicable Rate times the daily maximum amount available to be drawn under such Letter of Credit (whether or
not such maximum amount is then in effect under such Letter of Credit). Such letter of credit fees shall be computed on a quarterly basis in arrears. Such letter of credit fees shall be due and payable on the tenth calendar day following the end of
each calendar quarter, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. If there is any change in the Applicable Rate during any quarter, the
daily maximum amount of each Letter of Credit shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect. 

  
 42 

 (j)    Fronting Fee and Documentary and Processing Charges Payable to
L/C Issuer. The applicable Borrower shall pay directly to the L/C Issuer for its own account a fronting fee with respect to each Letter of Credit in an amount equal to 0.125 % per annum times the daily maximum amount available to be
drawn under such Letter of Credit. Such fronting fees shall be computed on a quarterly basis in arrears. Such fronting fees shall be due and payable on the first Business Day after the end of each calendar quarter, commencing with the first such
date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of
Credit shall be determined in accordance with Section 1.07. In addition, the applicable Borrower shall pay directly to the L/C Issuer for its own account the customary issuance, presentation, amendment and other processing
fees, and other standard costs and charges (including reasonable out-of-pocket expenses relating to issuances, amendments, renewals, extensions and any demands for
payment), of the L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable. 

(k)    Conflict with Issuer Document. In the event of any conflict between the terms hereof and the terms of any
Issuer Document, the terms hereof shall control. 
 (l)    Letters of Credit Issued for Subsidiaries.
Notwithstanding that a Letter of Credit issued or outstanding hereunder is in support of any obligations of, or is for the account of, a Subsidiary, the applicable Borrower shall be obligated to reimburse the L/C Issuer hereunder for any and all
drawings under such Letter of Credit and to make any Cash Collateral deposits required hereunder. The Company hereby acknowledges that the issuance of Letters of Credit for the account of Subsidiaries inures to the benefit of the Company, and that
the Company’s business derives substantial benefits from the businesses of such Subsidiaries. 
 (m)    Reports
to Administrative Agent. The L/C Issuer shall deliver to the Administrative Agent, upon each calendar month end, a report setting forth for such period the daily aggregate amount available to be drawn under the Letters of Credit that were
outstanding during such month. 
 (n)    Designation of L/C Issuer. The Company may, at any time and from time to
time, upon notice to the Administrative Agent, designate as an L/C Issuer one or more Lenders that agree to serve in such capacity as provided below. The acceptance by a Lender of an appointment as an L/C Issuer hereunder shall be evidenced by an
agreement, which shall be in form and substance reasonably satisfactory to such L/C Issuer, executed by each Borrower, the Administrative Agent and such designated Lender and, from and after the effective date of such agreement, as the case may be,
(x) such Lender shall have all the rights and obligations of an L/C Issuer under this Agreement and (y) references herein to the term “L/C Issuer” shall be deemed to include such Lender in its capacity as an issuer of Letters of
Credit hereunder. 
 (o)    Letter of Credit Reports. On (i) the last Business Day of each calendar
month, and (ii) each date that an L/C Credit Extension occurs with respect to any Letter of Credit, the L/C Issuer shall deliver to the Administrative Agent a written report in the form of Exhibit K hereto, appropriately completed with
the information for every Letter of Credit issued by the L/C Issuer that is outstanding hereunder. 

  
 43 

 (p)    Replacement of an L/C Issuer. An L/C Issuer may be
replaced at any time by written agreement among the Company, the Administrative Agent, the replaced L/C Issuer and the successor L/C Issuer. The Administrative Agent shall notify the Lenders of any such replacement of an L/C Issuer. From and after
the effective date of any such replacement, (x) the successor L/C Issuer shall have all the rights and obligations of the L/C Issuer being replaced under this Agreement with respect to Letters of Credit to be issued thereafter and
(y) references herein to the term “L/C Issuer” shall be deemed to refer to such successor or to any previous L/C Issuer, or to such successor and all current and previous L/C Issuers, as the context shall require. After the
replacement of an L/C Issuer hereunder, the replaced L/C Issuer shall remain a party hereto and shall continue to have all the rights and obligations of an L/C Issuer under this Agreement with respect to Letters of Credit issued by it prior to such
replacement, but shall not be required to issue additional Letters of Credit. 
 (q)    Resignation of an L/C
Issuer. Notwithstanding anything to the contrary contained herein, any L/C Issuer may, upon 30 days’ notice to the Administrative Agent, the Company and the Lenders, resign as an L/C Issuer. In the event of any such resignation as an
L/C Issuer, the Company shall be entitled to appoint from among the Lenders a successor L/C Issuer willing to accept its appointment as successor L/C Issuer hereunder; provided, that no failure by the Company to appoint any such successor
shall affect the resignation of the applicable L/C Issuer as an L/C Issuer. If the applicable L/C Issuer resigns as an L/C Issuer, it shall retain all the rights, powers, privileges and duties of an L/C Issuer hereunder with respect to all Letters
of Credit issued by it and outstanding as of the effective date of its resignation as an L/C Issuer and all L/C Obligations with respect thereto (including the right to require the Lenders to make Base Rate Committed Loans or fund risk
participations in Unreimbursed Amounts pursuant to Section 2.03(c)). Upon the appointment of a successor L/C Issuer, (x) such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the
resigning L/C Issuer and (y) the successor L/C Issuer shall issue letters of credit in substitution for the Letters of Credit, if any, outstanding at the time of such succession or make other arrangements satisfactory to the applicable
resigning L/C Issuer to effectively assume the obligations of the applicable resigning L/C Issuer with respect to such Letters of Credit. 

2.04    [Reserved]. 

2.05    Prepayments. 

(a)    Any Borrower may, upon notice (in a form acceptable by the Administrative Agent) to the Agent, at any time or from
time to time voluntarily prepay Committed Loans, as the case may be, in whole or in part without premium or penalty; provided that (i) such notice must be received by the Agent not later than 9:00 a.m., in the case of a prepayment of
Loans, (A) three Business Days prior to any date of prepayment of Eurocurrency Rate Loans denominated in Dollars, (B) four Business Days prior to any date of prepayment of Eurocurrency Rate Loans denominated in Alternative Currencies and
(C) on the date of prepayment of Base Rate Committed Loans; and (ii) any prepayment of Committed Loans shall be in a principal amount of $5,000,000 or a whole multiple of $1,000,000 in excess thereof or, if less, the entire principal
amount thereof then outstanding. Each such notice shall specify the date and amount of such prepayment and the Type(s) and currency of Committed Loans to be prepaid. The Agent will promptly notify each Lender of its receipt of each such notice, and
of the amount of such Lender’s Pro Rata Share of such prepayment. If such notice is given by a Borrower, such Borrower shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified
therein. Any prepayment of a Eurocurrency Rate Loan shall be accompanied by all accrued interest thereon, together with any additional amounts required pursuant to Section 3.05. Each such prepayment shall be applied to the
Committed Loans of the Lenders in accordance with their respective Pro Rata Shares. 

  
 44 

 (b)    If for any reason (other than a change in exchange rates, in
which case clause (d) shall apply) the Total Outstandings at any time exceed the Aggregate Commitments then in effect, the applicable Borrower shall immediately prepay Loans and/or Cash Collateralize the L/C Obligations in an aggregate amount
equal to such excess; provided, however, that the Borrowers shall not be required to Cash Collateralize the L/C Obligations pursuant to this Section 2.05(b) unless after the prepayment in full of the Committed
Loans the Total Outstandings exceed the Aggregate Commitments then in effect. 
 (c)    [Reserved]. 

(d)    (i) If the Administrative Agent notifies the Company at any time that the Outstanding Amount of all Loans
denominated in Alternative Currencies at such time exceeds the Alternative Currency Sublimit then in effect, then, within two Business Days after receipt of such notice, the Borrowers shall prepay Loans and/or Cash Collateralize L/C Obligations in
an aggregate amount sufficient to reduce such Outstanding Amount as of such date of payment to an amount not to exceed the Alternative Currency Sublimit then in effect. 

(ii)    If at any time, solely as a result of fluctuations in currency exchange rates, the sum of the aggregate principal
amount of all of the Revolving Credit Exposures exceeds the Aggregate Commitments, the applicable Borrower shall (x) immediately repay Loans or (y) Cash Collateralize L/C Obligations in an account with the Administrative Agent pursuant to
and within the time period required by Section 2.03(g), in the case of each of clauses (x) and (y) in an aggregate principal amount sufficient to cause the aggregate amount of all Revolving Credit Exposure to be less
than or equal to the Aggregate Commitments. 
 2.06    Termination or Reduction of Commitments. The Company may, upon
notice to the Agent, terminate the Aggregate Commitments, or from time to time permanently reduce the Aggregate Commitments; provided that (i) any such notice shall be received by the Agent not later than 9:00 a.m. five Business Days
prior to the date of termination or reduction, (ii) any such partial reduction shall be in an aggregate amount of $10,000,000 or any whole multiple of $1,000,000 in excess thereof, (iii) the Company shall not terminate or reduce the
Aggregate Commitments if, after giving effect thereto and to any concurrent prepayments hereunder, the Total Outstandings would exceed the Aggregate Commitments, and (iv) if, after giving effect to any reduction of the Aggregate Commitments,
the Alternative Currency Sublimit, the Letter of Credit Sublimit or the Foreign Designated Borrower Sublimit exceeds the amount of the Aggregate Commitments, such sublimit shall be automatically reduced by the amount of such excess. The
Administrative Agent will promptly notify the Lenders of any such notice of termination or reduction of the Aggregate Commitments. Any reduction of the Aggregate Commitments shall be applied to the Commitment of each Lender, according to its Pro
Rata Share. All facility fees accrued until the effective date of any termination of the Aggregate Commitments shall be paid on the effective date of such termination. 

2.07    Repayment of Loans. Each Borrower shall repay to the Lenders on the Maturity Date the aggregate principal amount of
its Committed Loans outstanding on such date. 

  
 45 

 2.08    Interest. 

(a)    Subject to the provisions of Section 2.08(b), (i) each Eurocurrency Rate Committed
Loan shall bear interest on the outstanding principal amount thereof for each Interest Period at a rate per annum equal to the Eurocurrency Rate for such Interest Period plus the Applicable Rate and (ii) each Base Rate Committed Loan shall bear
interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal to the Base Rate plus the Applicable Rate. 

(b)    If any amount payable by a Borrower under any Loan Document is not paid when due (without regard to any applicable
grace periods), whether at stated maturity, by acceleration or otherwise, such amount shall, upon the request of the Required Lenders (provided no such request shall be required in the case of an Event of Default under
Section 8.01(f) or 8.01(g)) thereafter bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws. Furthermore, upon the request
of the Required Lenders, while any Event of Default exists, the Borrowers shall pay interest on the principal amount of all outstanding Obligations hereunder at a fluctuating interest rate per annum at all times equal to the Default Rate to the
fullest extent permitted by applicable Laws. Accrued and unpaid interest on past due amounts (including interest on past due interest) shall be due and payable upon demand. 

(c)    Interest on each Loan shall be due and payable in arrears on each Interest Payment Date applicable thereto and at
such other times as may be specified herein. Interest hereunder shall be due and payable in accordance with the terms hereof before and after judgment, and before and after the commencement of any proceeding under any Debtor Relief Law. 

2.09    Fees. In addition to certain fees described in Sections 2.03(i) and 2.03(j): 

(a)    Facility Fee. The Company shall pay to the Administrative Agent for the account of each Lender in accordance
with its Pro Rata Share, a facility fee payable in Dollars on the tenth calendar day following the end of each calendar quarter, which shall be equal to the Applicable Rate times the actual daily amount of the Aggregate Commitments (or, if the
Aggregate Commitments have terminated, on the Outstanding Amount of all Committed Loans and L/C Obligations), regardless of usage. The facility fee shall accrue at all times during the Availability Period (and thereafter so long as any Committed
Loans or L/C Obligations remain outstanding), including at any time during which one or more of the conditions in ARTICLE IV are not met, and shall be due and payable quarterly in arrears on each date specified above following the end of each
calendar quarter, commencing with the first such date to occur after the date hereof, and on the last day of the Availability Period (and, if applicable, thereafter on demand). The facility fee shall be calculated on a calendar quarter basis in
arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.

 (b)    Other Fees. (i) The Company shall pay to the Arrangers and the Administrative Agent for their own
respective accounts fees in the amounts and at the times specified in the Fee Letter. Such fees shall be fully earned when paid and, except to the extent expressly otherwise agreed, shall not be refundable for any reason whatsoever. 

  
 46 

 (ii)    The Borrowers shall pay to the Lenders such fees as shall have
been separately agreed upon in writing in the amounts and at the times so specified. Such fees shall be fully earned when paid and, except to the extent expressly otherwise agreed, shall not be refundable for any reason whatsoever. 

2.10    Computation of Interest and Fees. All computations of interest for Base Rate Loans when the Base Rate is determined
by Bank of America’s “prime rate” shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of fees and interest shall be made on the basis of a 360-day year and actual days elapsed (which results in more fees or interest, as applicable, being paid than if computed on the basis of a 365-day year) or, in the case of
interest in respect of other Loans denominated in Alternative Currencies as to which market practice differs from the foregoing, in accordance with such market practice. Interest shall accrue on each Loan for the day on which the Loan is made, and
shall not accrue on a Loan, or any portion thereof, for the day on which the Loan or such portion is paid, provided that any Loan that is repaid on the same day on which it is made shall, subject to Section 2.12(a),
bear interest for one day. Each determination by the Administrative Agent of an interest rate or fee hereunder shall be conclusive and binding for all purposes, absent manifest error. 

2.11    Evidence of Debt. 

(a)    The Credit Extensions made by each Lender shall be evidenced by one or more accounts or records maintained by such
Lender and by the Agent in the ordinary course of business. The accounts or records maintained by the Administrative Agent and each Lender shall be conclusive absent manifest error of the amount of the Credit Extensions made by the Lenders to the
Borrowers and the interest and payments thereon. Any failure to so record or any error in doing so shall not, however, limit or otherwise affect the obligation of the Borrowers hereunder to pay any amount owing with respect to the Obligations. In
the event of any conflict between the accounts and records maintained by any Lender and the accounts and records of the Agent in respect of such matters, the accounts and records of the Agent shall control in the absence of manifest error. Upon the
request of any Lender made through the Agent, the applicable Borrower shall execute and deliver to such Lender (through the Agent) a Note, which shall evidence such Lender’s Loans in addition to such accounts or records. Each Lender may attach
Schedules to its Note and endorse thereon the date, Type (if applicable), amount, currency and maturity of its Loans and payments with respect thereto. 

(b)    In addition to the accounts and records referred to in Section 2.11(a), each Lender and
the Administrative Agent shall maintain in accordance with its usual practice accounts or records evidencing the purchases and sales by such Lender of participations in Letters of Credit. In the event of any conflict between the accounts and records
maintained by the Administrative Agent and the accounts and records of any Lender in respect of such matters, the accounts and records of the Administrative Agent shall control in the absence of manifest error. 

  
 47 

 2.12    Payments Generally. 

(a)    All payments to be made by the Borrowers shall be made without condition or deduction for any counterclaim, defense,
recoupment or setoff. Except as otherwise expressly provided herein and except with respect to principal of and interest on Loans denominated in an Alternative Currency, all payments by the Borrowers hereunder shall be made to the Administrative
Agent, for the account of the respective Lenders to which such payment is owed, at the applicable Administrative Agent’s Office in Dollars and in Same Day Funds not later than 12:00 p.m. on the date specified herein. Except as otherwise
expressly provided herein, all payments by the Borrowers hereunder with respect to principal and interest on Loans denominated in an Alternative Currency shall be made to the Administrative Agent, for the account of the respective Lenders to which
such payment is owed, at the applicable Administrative Agent’s Office in such Alternative Currency and in Same Day Funds not later than the Applicable Time specified by the Administrative Agent on the dates specified herein. Without limiting
the generality of the foregoing, the Administrative Agent may require that any payments due under this Agreement be made in the United States or such other address as the Administrative Agent specifies from time to time. If, for any reason, any
Borrower is prohibited by any Law from making any required payment hereunder in an Alternative Currency, such Borrower shall make such payment in Dollars in the Dollar Equivalent amount of the Alternative Currency payment amount. The Agent will
promptly distribute to each Lender its Pro Rata Share (or other applicable share as provided herein) of such payment in like funds as received by wire transfer to such Lender’s Lending Office. All payments received by an Agent after the
applicable time specified in this Section 2.12(a) shall be deemed received on the next succeeding Business Day and any applicable interest or fee shall continue to accrue. If any payment to be made by a Borrower shall come
due on a day other than a Business Day, payment shall be made on the next following Business Day, and such extension of time shall be reflected in computing interest or fees, as the case may be. 

(b)    (i) Unless the Agent shall have received notice from a Lender prior to (a) the proposed date of any Borrowing
of Eurocurrency Rate Loans or (b) two hours prior to the proposed time of any Borrowing of Base Rate Loans that such Lender will not make available to the Agent such Lender’s share of such Borrowing, the Agent may assume that such Lender
has made such share available on such date in accordance with Section 2.02 and may, in reliance upon such assumption, make available to the applicable Borrower a corresponding amount. In such event, if a Lender has not in
fact made its share of the applicable Borrowing available to the Agent, then such Lender and the applicable Borrower severally agree to pay to the Agent forthwith on demand such corresponding amount in Same Day Funds with interest thereon, for each
day from and including the date such amount is made available to the applicable Borrower to but excluding the date of payment to the Agent, at (A) in the case of a payment to be made by such Lender, a rate per annum equal to the applicable
Overnight Rate from time to time in effect plus any administrative, processing or similar fees customarily charged by the Agent in connection with the foregoing, and (B) in the case of a payment to be made by any Borrower, the interest rate
applicable to the applicable Borrowing. If the applicable Borrower and such Lender shall pay such interest to the Agent for the same or an overlapping period, the Agent shall promptly remit to the applicable Borrower the amount of such interest paid
by the applicable Borrower for such period. If such Lender pays its share of the applicable Borrowing to the Agent, then the amount so paid shall constitute such Lender’s Committed Loan included in such Borrowing. Any payment by the applicable
Borrower shall be without prejudice to any claim the applicable Borrower may have against a Lender that shall have failed to make such payment to the Agent. 

  
 48 

 (ii)    Unless the Agent shall have received notice from the applicable
Borrower prior to the date on which any payment is due to the Agent for the account of the Lenders or the L/C Issuers hereunder that the applicable Borrower will not make such payment, the Agent may assume that the applicable Borrower has made such
payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Lenders or the L/C Issuers, as the case may be, the amount due. In such event, if the applicable Borrower has not in fact made such payment,
then each of the Lenders or the L/C Issuers, as the case may be, severally agrees to repay to the Agent forthwith on demand the amount so distributed to such Lender or L/C Issuer, in Same Day Funds with interest thereon, for each day from and
including the date such amount is distributed to it to but excluding the date of payment to the Agent, at rate per annum equal to the applicable Overnight Rate from time to time in effect. 

A notice of the Agent to any Lender or the applicable Borrower with respect to any amount owing under this subsection
(b) shall be conclusive, absent manifest error. 
 (c)    If any Lender makes available to the Agent
funds for any Loan to be made by such Lender as provided in the foregoing provisions of this ARTICLE II, and such funds are not made available to the applicable Borrower by the Agent because the conditions to the applicable Credit Extension
set forth in ARTICLE IV are not satisfied or waived in accordance with the terms hereof, the Agent shall return such funds (in like funds as received from such Lender) to such Lender, without interest. 

(d)    The obligations of the Lenders hereunder to make Committed Loans, to fund participations in Letters of Credit and
to make payments pursuant to Section 11.04(c) are several and not joint. The failure of any Lender to make any Committed Loan, to fund any such participation, to make any such purchase or to make any payment under
Section 11.04(c) on any date required hereunder shall not relieve any other Lender of its corresponding obligation to do so on such date, and no Lender shall be responsible for the failure of any other Lender to so make its
Committed Loan, fund any participation or to make any purchase or payment. 
 (e)    Nothing herein shall be deemed to
obligate any Lender to obtain the funds for any Loan in any particular place or manner or to constitute a representation by any Lender that it has obtained or will obtain the funds for any Loan in any particular place or manner. 

2.13    Sharing of Payments. If, other than as expressly provided elsewhere herein, any Lender shall obtain on account of
the Committed Loans made by it, or the participations in L/C Obligations held by it, any payment (whether voluntary, involuntary, through the exercise of any right of set-off, or otherwise) in excess of its
ratable share (or other share contemplated hereunder) thereof, such Lender shall immediately (a) notify the Administrative Agent of such fact, and (b) purchase from the other Lenders such participations in the Committed Loans made by them
and/or such subparticipations in the participations in L/C Obligations held by them, as the case may be, as shall be necessary to cause such purchasing Lender to share the excess payment in respect of such Committed Loans, or such participations, as
the case may be, pro rata with each of them; provided, however, that if all or any portion of such excess payment is thereafter recovered from the purchasing Lender under any of the circumstances described in
Section 11.05 (including pursuant to any settlement entered into by the purchasing Lender in its discretion), such purchase shall to that extent be rescinded and each other Lender shall repay to the purchasing Lender the
purchase price paid therefor, together with an amount equal to such paying Lender’s ratable share (according to the proportion of (i) the amount of such paying Lender’s required repayment to (ii) the total amount so recovered
from the purchasing Lender) of any interest or other amount paid or payable by the purchasing Lender in respect of the total amount so recovered, without further interest thereon. Each Borrower agrees that any Lender so purchasing a participation
from another Lender may, to the fullest extent permitted by law, exercise all its rights of payment (including the right of set-off, but subject to Section 11.08) with respect to such
participation as fully as if such Lender were the direct creditor of such Borrower in the amount of such participation. The Administrative Agent will keep records (which shall be conclusive and binding in the absence of manifest error) of
participations purchased under this Section 2.13 and will in each case notify the Lenders following any such purchases or repayments. Each Lender that purchases a participation pursuant to this
Section 2.13 shall from and after such purchase have the right to give all notices, requests, demands, directions and other communications under this Agreement with respect to the portion of the Obligations purchased to the
same extent as though the purchasing Lender were the original owner of the Obligations purchased. 

  
 49 

 2.14    [Reserved]. 

2.15    Increase in Commitments. 

(a)    Provided there exists no Default, upon notice to the Administrative Agent (which shall promptly notify the Lenders),
the Company may from time to time, request an increase in the Aggregate Commitments by an aggregate amount (for all such requests) not exceeding $1,000,000,000. At the time of sending such notice, the Company (in consultation with the Administrative
Agent) shall specify the time period within which each Lender is requested to respond (which shall in no event be less than ten Business Days from the date of delivery of such notice to the Lenders). Each Lender shall notify the Administrative Agent
within such time period whether or not it agrees to increase its Commitment (and, for the avoidance of doubt, no such Lender shall have an obligation to so agree) and, if so, whether by an amount equal to, greater than, or less than its Pro Rata
Share of such requested increase. Any Lender not responding within such time period shall be deemed to have declined to increase its Commitment. The Administrative Agent shall notify the Company and each Lender of the Lenders’ responses to each
request made hereunder. To achieve the full amount of a requested increase, the Company may also invite additional Eligible Assignees to become Lenders pursuant to a joinder agreement in form and substance satisfactory to the Administrative Agent
and its counsel. Notwithstanding the foregoing provisions of this Section 2.15(a), during the first 90 days following the date hereof, the Company may invite Eligible Assignees to become Lenders under this Agreement in
connection with a requested increase without first providing any Lender with the opportunity to increase its Commitment as provided above. 

  
 50 

 (b)    If the Aggregate Commitments are increased in accordance with
this Section 2.15, the Administrative Agent and the Company shall determine the effective date (the “Increase Effective Date”) and the final allocation of such increase. The Administrative Agent shall
promptly notify the Company and the Lenders of the final allocation of such increase and the Increase Effective Date. As a condition precedent to such increase, the Company shall deliver to the Administrative Agent a certificate of each Loan Party
dated as of the Increase Effective Date signed by a Responsible Officer of such Loan Party (i) certifying and attaching the resolutions adopted by such Loan Party approving or consenting to such increase, and (ii) in the case of the
Company, certifying that, before and after giving effect to such increase, (A) the representations and warranties contained in ARTICLE V and the other Loan Documents are true and correct on and as of the Increase Effective Date, except
to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct as of such earlier date, and except that, for purposes of this Section 2.15, (1) the
representation and warranty contained in Section 5.08(a) shall be deemed to refer to the most recent statements furnished pursuant to Section 6.01(a) and 6.01(b), respectively, and
(2) the reference to the date hereof in Section 5.05(b) and Section 5.08(b) shall be deemed to refer to the Increase Effective Date and (B) no Default exists. The Company shall prepay any
Committed Loans outstanding on the Increase Effective Date (and pay any additional amounts required pursuant to Section 3.05) to the extent necessary to keep the outstanding Committed Loans ratable with any revised Pro Rata
Shares arising from any nonratable increase in the Commitments under this Section 2.15. 

(c)    In the event of an increase in Commitments pursuant to this Section 2.15, the provisions
of this Section 2.15 shall govern any conflicts with provisions in Sections 2.13 or 11.01. 

  
 51 

 2.16    Designation of Borrowers. 

(a)    The Company may at any time, upon not less than 15 Business Days’ notice from the Company to the Administrative
Agent (or such shorter period as may be agreed by the Administrative Agent in its sole discretion), designate any consolidated Subsidiary of the Company that is organized in a Designated Borrower Jurisdiction and that is engaged in a line of
business that is substantially similar to those lines of businesses conducted by the Company and its Subsidiaries on the date hereof (an “Applicant Borrower”) as a Designated Borrower to receive Loans hereunder by delivering to the
Administrative Agent (which shall promptly deliver counterparts thereof to each Lender) a duly executed notice and agreement in substantially the form of Exhibit E-1 (a “Designated Borrower
Request and Assumption Agreement”). The parties hereto acknowledge and agree that prior to any Applicant Borrower becoming entitled to utilize the credit facilities provided for herein the Administrative Agent and the Lenders shall have
received such “know your customer” information, Beneficial Ownership Certification, supporting resolutions, incumbency certificates, opinions of counsel and other documents or information, in form, content and scope reasonably satisfactory
to the Administrative Agent, as may be required by the Administrative Agent or the Required Lenders (or in the case of “know your customer” information and Beneficial Ownership Certification, each Lender) in their sole discretion,
including, without limitation, with respect to an Applicant Borrower that is organized under the laws of Germany, evidence satisfactory to the Administrative Agent that such Applicant Borrower (i) is an entity incorporated under the laws of the
Federal Republic of Germany as a limited liability company (Gesellschaft mit beschränkter Haftung) and (ii) satisfies asset, revenue, and minimum employee tests required under the laws of Germany to permit a U.S.
Lender to lend to such Applicant Borrower and Notes signed by such new Borrowers to the extent any Lenders so require. If the Administrative Agent and the Required Lenders agree that an Applicant Borrower shall be entitled to receive Loans
hereunder, then promptly following receipt of all such requested resolutions, incumbency certificates, opinions of counsel and other documents or information, the Administrative Agent shall send a notice in substantially the form of Exhibit E-2 (a “Designated Borrower Notice”) to the Company and the Lenders specifying the effective date upon which the Applicant Borrower shall constitute a Designated Borrower for purposes hereof
(the “Designated Borrower Effective Date”), whereupon each of the Lenders agrees to permit such Designated Borrower to receive Loans hereunder, on the terms and conditions set forth herein, and each of the parties agrees that such
Designated Borrower otherwise shall be a Borrower for all purposes of this Agreement; provided that no Committed Loan Notice or Letter of Credit Application may be submitted by or on behalf of such Designated Borrower until the date five
Business Days after the Designated Borrower Effective Date applicable to such Designated Borrower. 
 (b)    The
Obligations of the Company and each Designated Borrower that is a Domestic Subsidiary shall be joint and several in nature. The Obligations of all Designated Borrowers that are Foreign Subsidiaries shall be several in nature. The Company shall
execute a Guaranty in respect of any Designated Borrower prior to or on the Designated Borrower Effective Date applicable to such Designated Borrower. Any Designated Borrower that is a Domestic Subsidiary shall execute a Guaranty in respect of the
Company’s and any other Designated Borrower’s Obligations hereunder prior to or on the Designated Borrower Effective Date applicable to such Designated Borrower. In the case the Company designates a Designated Borrower, the Company and
each Designated Borrower that is a Domestic Subsidiary shall execute and deliver to the Administrative Agent a reaffirmation agreement in form and substance reasonably satisfactory to the Administrative Agent in respect of such Person’s
Guaranty prior to or on the Designated Borrower Effective Date applicable to such Designated Borrower so designated by the Company. 

(c)    Each Subsidiary of the Company that becomes a “Designated Borrower” pursuant to this
Section 2.16 hereby irrevocably appoints the Company as its agent for all purposes relevant to this Agreement and each of the other Loan Documents, including (i) the giving and receipt of notices, (ii) the
execution and delivery of all documents, instruments and certificates contemplated herein and all modifications hereto, and (iii) the receipt of the proceeds of any Loans made by the Lenders to any such Designated Borrower hereunder. Any
acknowledgment, consent, direction, certification or other action which might otherwise be valid or effective only if given or taken by all Borrowers, or by each Borrower acting singly, shall be valid and effective if given or taken only by the
Company, whether or not any such other Borrower joins therein. Any notice, demand, consent, acknowledgement, direction, certification or other communication delivered to the Company in accordance with the terms of this Agreement shall be deemed to
have been delivered to each Designated Borrower. 

  
 52 

 (d)    The Company may from time to time, upon not less than 15 Business
Days’ notice from the Company to the Administrative Agent (or such shorter period as may be agreed by the Administrative Agent in its sole discretion), terminate a Designated Borrower’s status as such, provided that there are no
outstanding Loans payable by such Designated Borrower, or other amounts payable by such Designated Borrower on account of any Loans made to it, as of the effective date of such termination. The Administrative Agent will promptly notify the Lenders
of any such termination of a Designated Borrower’s status. 
 (e)    Notwithstanding the foregoing, with respect to
any Designated Borrower not organized under the laws of the United States or any State thereof (a “Designated Foreign Borrower”), no Lender shall be required to make Loans to such Designated Foreign Borrower and no L/C Issuer shall
be required to issue or amend any Letter of Credit for such Designated Foreign Borrower in the event that the making of such Loans or issuance or amendment of such Letter of Credit would reasonably be expected to (a) breach or violate any
internal policy of such Lender or L/C Issuer or any law or regulation to which such Lender or L/C Issuer is subject, or would be upon the making of such Loan or issuance or amendment of such Letter of Credit or (b) result in materially adverse
tax consequences to such Lender (any such Lender, a “Protesting Lender”); provided that (i) any Protesting Lender, which is relying solely on such internal policies as the basis for not making Loans or issuing or amending
Letters of Credit may do so only if such internal policies are being applied by such Protesting Lender to all similarly situated borrowers seeking loans, letters of credit or other extensions of credit from or with respect to such jurisdiction; and
(ii) each Protesting Lender shall use reasonable efforts to designate (or identify) a different lending office for funding or booking its Loans to such Designated Foreign Borrower or issuing or amending Letters of Credit for the account of such
Designated Foreign Borrower or to assign (or identify for purposes of assignment of) its rights and obligations hereunder to make its Loans to, or issue or amend Letters of Credit for the account of, such Designated Foreign Borrower to another of
its offices, branches or affiliates, if, in the good faith judgment of such Protesting Lender, such designation or assignment would permit it to make Loans to such Designated Foreign Borrower or issue or amend Letters of Credit for the account of
such Designated Foreign Borrower and would not otherwise be materially disadvantageous to such Protesting Lender, as applicable (and the Company and the relevant Designated Foreign Borrower shall agree to pay all reasonable out-of-pocket costs and expenses incurred by such Lender or L/C Issuer in connection with any such designation or assignment). As soon as practicable (but in any event not
more than five Business Days) after receipt of notice from the Company or the Administrative Agent of the Company’s intent to designate a Designated Foreign Borrower, any Protesting Lender shall notify the Company and the Administrative Agent
in writing of its inability to lend to such Designated Foreign Borrower. The Company shall, effective on or before the date that such Designated Foreign Borrower shall have the right to borrow hereunder, either (A) with respect to each
Protesting Lender, replace such Protesting Lender with Lenders willing (in their sole discretion) to increase their existing Commitments, or other financial institutions willing (in their sole discretion) to become Lenders and extend new
commitments, on terms consistent with Section 11.15, or (B) cancel its request to designate such Designated Foreign Borrower as a “Designated Borrower”. 

  
 53 

 2.17    Extension of Maturity Date. 

(a)    Requests for Extension. The Company may, by notice to the Administrative Agent, given not earlier than 90
days and not later than 65 days prior to each of the first, second and third anniversaries of the date hereof (each such anniversary being referred to herein as an “Anniversary Date” and each such 25 day period prior to an
Anniversary Date being referred to herein as a “Request Period”), request that each Lender and L/C Issuer, effective as of the first, second or third Anniversary Date, as the case may be, extend its Commitment and/or availability of
Letters of Credit hereunder beyond the Maturity Date then in effect (the “Existing Maturity Date”) for an additional one-year period from the Existing Maturity Date; provided that no
more than one such request may be made during each Request Period. The Administrative Agent shall promptly notify each Lender and L/C Issuer of the Company’s request for such extension (the date such notice is given being referred to herein as
the “Notice Date”). 
 (b)    Lender Elections to Extend. Each Lender and L/C Issuer, in each
case, acting in its sole discretion, shall, by notice to the Administrative Agent given not later than 10 days following the Notice Date (the “Response Deadline”), advise the Administrative Agent whether or not such Lender or L/C
Issuer agrees to such extension (each such Lender or L/C Issuer that determines not to so extend its Commitment being referred to as a “Non-Extending Lender”). Any Lender or L/C Issuer that
does not so advise the Administrative Agent on or before the Response Deadline shall be deemed to be a Non-Extending Lender. The election of any Lender or L/C Issuer to agree to such extension of the Maturity
Date shall not obligate any other Lender to so agree. 
 (c)    Notification by Administrative Agent. The
Administrative Agent shall notify the Company of each Lender’s and L/C Issuer’s determination under this Section 2.17 within five Business Days after the Response Deadline. 

(d)    Additional Commitment Lenders. The Company shall have the right on or before the related Anniversary Date to
replace each Non-Extending Lender with, and add as “Lender” and/or “L/C Issuer”, as applicable, under this Agreement in place thereof, one or more Eligible Assignees (each, an
“Additional Commitment Lender”) as provided in Section 11.06, provided that each such Additional Commitment Lender shall enter into an Assignment and Assumption Agreement pursuant to which
such Additional Commitment Lender shall undertake a Commitment (and, if any such Additional Commitment Lender is already a Lender, its Commitment shall be in addition to such Lender’s Commitment hereunder on such date). 

(e)    Minimum Extension Requirement. If (and only if) the total of the Commitments of the Lenders (including L/C
Issuers) that have agreed to so extend the Maturity Date (each, an “Extending Lender”) and the Commitments of the Additional Commitment Lenders shall be more than 51% of the aggregate amount of the Commitments in effect immediately
prior to the related Anniversary Date, then, effective as of the related Anniversary Date (but subject to the prior satisfaction of the conditions set forth in clause (f) below), the Maturity Date of this Agreement and the Maturity Date with
respect to the Commitments of each Extending Lender and of each Additional Commitment Lender shall be extended to the date falling one year after the Existing Maturity Date (except that, if such date is not a Business Day, such Maturity Date as so
extended shall be the next preceding Business Day) and each Additional Commitment Lender shall thereupon become a “Lender” and/or “L/C Issuer”, as applicable, for all purposes of this Agreement. Notwithstanding anything herein to
the contrary, the Commitment of each Non-Extending Lender shall remain in full force and effect until and shall terminate on the Existing Maturity Date for such
Non-Extending Lender, unless such Non-Extending Lender is replaced prior to the related Anniversary Date by an Additional Commitment Lender as provided in clause
(d) above. 

  
 54 

 (f)    Conditions to Effectiveness of Extensions. Notwithstanding
the foregoing, the extension of the Maturity Date pursuant to this Section shall not be effective with respect to any Lender or L/C Issuer unless: 

(i)    no Default shall exist, or would result from such extension; 

(ii)    the representations and warranties of the Borrowers contained in this Agreement or any other Loan Document, or
which are contained in any document furnished at any time under or in connection herewith or therewith, shall be true and correct on and as of the date of such extension, except to the extent that such representations and warranties specifically
refer to an earlier date, in which case they shall be true and correct as of such earlier date; 
 (iii)    as of the
Anniversary Date, with respect to such extension no Material Adverse Effect has occurred since March 31, 2019; and 

(iv)    the chief financial officer of the Company shall have delivered to the Administrative Agent a certificate, dated
the Anniversary Date with respect to such extension, as to the matters referred to in clauses (i) through (iii) above. 

(g)    Payment of Non-Extending Lenders. On the Maturity Date of any Non-Extending Lender, the Company shall repay any outstanding Loans and L/C Advances, accrued interest and fees thereon and other amounts payable to such Non-Extending Lender
hereunder and under the other Loan Documents (and pay any additional amounts required pursuant to Sections 2.09 and 3.05). 

(h)    Conflicting Provisions. This Section shall supersede any provisions in
Section 11.01 to the contrary. 
 2.18    Defaulting Lenders. 

(a)    Adjustments. Notwithstanding anything to the contrary contained in this Agreement, if any Lender becomes a
Defaulting Lender, then, until such time as that Lender is no longer a Defaulting Lender, to the extent permitted by applicable law: 

(i)    Waivers and Amendments. Such Defaulting Lender’s right to approve or disapprove any amendment, waiver
or consent with respect to this Agreement shall be restricted as set forth in Section 11.01. 

  
 55 

 (ii)    Reallocation of Payments. Any payment of principal,
interest, fees or other amounts received by Administrative Agent for the account of that Defaulting Lender (whether voluntary or mandatory, at maturity, pursuant to Article VIII or otherwise, and including any amounts made available to the
Agent by that Defaulting Lender pursuant to Section 11.08), will be applied at such time or times as may be determined by the Agent as follows: FIRST, to the payment of any amounts owing by that Defaulting Lender to the
Agent hereunder; SECOND, to the payment on a pro rata basis of any amounts owing by that Defaulting Lender to any L/C Issuer hereunder; THIRD, if so determined by Administrative Agent or requested by any L/C Issuer, to be held as Cash Collateral for
future funding obligations of that Defaulting Lender of any participation in any Letter of Credit; FOURTH, as the Company may request (so long as no Default or Event of Default exists), to the funding of any Loan in respect of which that Defaulting
Lender has failed to fund its portion thereof as required by this Agreement, as determined by Administrative Agent; FIFTH, if so determined by Administrative Agent and the Company and subject to Section 2.03(g), to be held
in a non-interest bearing deposit account and released in order to satisfy obligations of that Defaulting Lender to fund Loans under this Agreement; SIXTH, to the payment of any amounts owing to the Lenders or
any L/C Issuer as a result of any judgment of a court of competent jurisdiction obtained by any Lender or such L/C Issuer against that Defaulting Lender as a result of that Defaulting Lender’s breach of its obligations under this Agreement;
SEVENTH, so long as no Default or Event of Default exists, to the payment of any amounts owing to the Borrowers as a result of any judgment of a court of competent jurisdiction obtained by the Borrowers against that Defaulting Lender as a result of
that Defaulting Lender’s breach of its obligations under this Agreement; and EIGHTH, to that Defaulting Lender or as otherwise directed by a court of competent jurisdiction; provided that if (1) such payment is a payment of the
principal amount of any Loans or L/C Borrowings in respect of which that Defaulting Lender has not fully funded its appropriate share and (2) such Loans or L/C Borrowings were made at a time when the conditions set forth in
Section 4.03 were satisfied or waived, such payment will be applied solely to pay the Loans of, and L/C Borrowings owed to, all non-Defaulting Lenders on a pro rata basis prior to
being applied to the payment of any Loans of, or L/C Borrowings owed to, that Defaulting Lender. Any payments, prepayments or other amounts paid or payable to a Defaulting Lender that are applied (or held) to pay amounts owed by a Defaulting Lender
or to post Cash Collateral pursuant to this Section 2.18(a)(ii) will be deemed paid to and redirected by that Defaulting Lender, and each Lender irrevocably consents hereto. 

(iii)    Certain Fees. A Defaulting Lender (x) shall be entitled to receive any facility fee pursuant to
Section 2.09(a) for any period during which that Lender is a Defaulting Lender only to extent allocable to the sum of (1) the Outstanding Amount of the Committed Loans funded by it and (2) its Pro Rata Share of
the stated amount of Letters of Credit for which it has provided Cash Collateral (and the Borrowers shall (A) be required to pay to each L/C Issuer the amount of such fee allocable to its Fronting Exposure arising from that Defaulting Lender
and (B) not be required to pay the remaining amount of such fee that otherwise would have been required to have been paid to that Defaulting Lender) and (y) shall be limited in its right to receive letter of credit fees as provided in
Section 2.03(i). Each Defaulting Lender shall be entitled to receive letter of credit fees for any period during which that Lender is a Defaulting Lender only to the extent allocable to its Pro Rata Share of the stated
amount of Letters of Credit for which it has provided Cash Collateral. With respect to any facility fee or letter of credit fee not required to be paid to any Defaulting Lender, the Borrowers shall (x) pay to each
non-Defaulting Lender that portion of any such fee otherwise payable to such Defaulting Lender with respect to such Defaulting Lender’s participation in L/C Obligations that has been reallocated to such non-Defaulting Lender pursuant to clause (iv) below, (y) pay to each L/C Issuer the amount of any such fee otherwise payable to such Defaulting Lender to the extent allocable to such L/C Issuer’s Fronting
Exposure to such Defaulting Lender, and (z) not be required to pay the remaining amount of any such fee. 

  
 56 

 (iv)    Reallocation of Pro Rata Shares to Reduce Fronting
Exposure. All or any part of such Defaulting Lender’s participation in L/C Obligations shall be reallocated among the non-Defaulting Lenders in accordance with their respective Pro Rata Shares
(calculated without regard to such Defaulting Lender’s Commitment), but only to the extent that such reallocation does not cause the aggregate Revolving Credit Exposure of any non-Defaulting Lender to
exceed such non-Defaulting Lender’s Commitment and provided that each such reallocation will be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default or Event of
Default exists. No reallocation hereunder shall constitute a waiver or release of any claim of any party hereunder against a Defaulting Lender arising from that Lender having become a Defaulting Lender, including any claim of a non-Defaulting Lender as a result of such non-Defaulting Lender’s increased exposure following such reallocation. 

(v)    Cash Collateral. If the reallocation described in clause (a)(iv) above cannot, or can only partially, be
effected, the Company shall, without prejudice to any right or remedy available to it hereunder or under applicable Law, Cash Collateralize the applicable L/C Issuers’ Fronting Exposure. 

(b)    Defaulting Lender Cure. If the Company, Administrative Agent and each L/C Issuer agree in writing in their
sole discretion that a Defaulting Lender should no longer be deemed to be a Defaulting Lender, Administrative Agent will so notify the parties hereto, whereupon as of the effective date specified in such notice and subject to any conditions set
forth therein (which may include arrangements with respect to any Cash Collateral), that Lender will, to the extent applicable, purchase that portion of outstanding Loans of the other Lenders or take such other actions as Administrative Agent may
determine to be necessary to cause the Loans and funded and unfunded participations in Letters of Credit to be held on a pro rata basis by the Lenders in accordance with their Pro Rata Shares (without giving effect to
Section 2.18(a)(iv)), whereupon that Lender will cease to be a Defaulting Lender; provided that (x) to the extent that any non-Defaulting Lender incurs any loss, cost or
expense as a result of such purchase of any Eurocurrency Rate Loan on a day other than the last day of the Interest Period for such Loan, such Defaulting Lender shall reimburse such non-Defaulting Lenders for
any such loss, cost or expense, (y) no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of the Borrowers while that Lender was a Defaulting Lender and (z) except to the extent otherwise
expressly agreed by the affected parties, no change hereunder from Defaulting Lender to Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender’s having been a Defaulting Lender. 

  
 57 

 ARTICLE III 

TAXES, YIELD PROTECTION AND ILLEGALITY 

3.01    Taxes. 

(a)    (i) Any and all payments by or on account of any obligation of any Loan Party under any Loan Document shall be
made without deduction or withholding for any Taxes, except as required by applicable Laws. If any applicable Laws (as determined in the good faith discretion of the Administrative Agent) require the deduction or withholding of any Tax from any such
payment by the Administrative Agent or a Loan Party, then the Administrative Agent or such Loan Party shall be entitled to make such deduction or withholding. 

(ii)     [reserved] 

(iii)    If any Loan Party or the Administrative Agent shall be required by any applicable Laws to withhold
or deduct any Taxes from any payment, then (A) such Loan Party or the Administrative Agent, as required by such Laws, shall withhold or make such deductions as are determined by it to be required, (B) such Loan Party or the Administrative
Agent, to the extent required by such Laws, shall timely pay the full amount withheld or deducted to the relevant Governmental Authority in accordance with such Laws, and (C) to the extent that the withholding or deduction is made on account of
Indemnified Taxes, the sum payable by the applicable Loan Party shall be increased as necessary so that after any required withholding or the making of all required deductions (including deductions and withholdings applicable to additional sums
payable under this Section 3.01) the applicable Recipient receives an amount equal to the sum it would have received had no such withholding or deduction been made. 

(b)    Without limiting the provisions of subsection (a) above, the Loan Parties shall timely
pay to the relevant Governmental Authority in accordance with applicable law, or at the option of the Administrative Agent timely reimburse it for the payment of, any Other Taxes. 

(c)    (i) Each of the Loan Parties shall, and does hereby, jointly and severally indemnify each Recipient, and shall make
payment in respect thereof within 10 days after demand therefor, for the full amount of any Indemnified Taxes (including Indemnified Taxes imposed or asserted on or attributable to amounts payable under this Section 3.01)
payable or paid by such Recipient or required to be withheld or deducted from a payment to such Recipient, and any penalties, interest and reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes were
correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to the Company by a Lender or an L/C Issuer (with a copy to the Administrative Agent), or by the
Administrative Agent on its own behalf or on behalf of a Lender or an L/C Issuer, shall be conclusive absent manifest error. 

  
 58 

 (ii)    Each Lender and L/C Issuer shall, and does
hereby, severally indemnify, and shall make payment in respect thereof within 10 days after demand therefor, (x) the Administrative Agent against any Indemnified Taxes attributable to such Lender or the L/C Issuer (but only to the extent that
any Loan Party has not already indemnified the Administrative Agent for such Indemnified Taxes and without limiting the obligation of the Loan Party to do so), (y) the Administrative Agent and the Loan Party, as applicable, against any Taxes
attributable to such Lender’s failure to comply with the provisions of Section 11.06(d) relating to the maintenance of a Participant Register and (z) the Administrative Agent and the Loan Party, as applicable,
against any Excluded Taxes attributable to such Lender or L/C Issuer, in each case, that are payable or paid by the Administrative Agent or a Loan Party in connection with any Loan Document, and any reasonable expenses arising therefrom or with
respect thereto, whether or not such Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to any Lender by the Administrative Agent shall be
conclusive absent manifest error. Each Lender and L/C Issuer hereby authorizes the Administrative Agent to set off and apply any and all amounts at any time owing to such Lender or L/C Issuer, as the case may be, under this Agreement or any other
Loan Document against any amount due to the Administrative Agent under this clause (ii). 

(d)    As soon as practicable after any payment of Taxes by any Loan Party to a Governmental Authority as provided in this
Section 3.01, the Company shall deliver to the Administrative Agent the original or a certified copy of a receipt issued by such Governmental Authority evidencing such payment, a copy of any return required by Laws to
report such payment or other evidence of such payment reasonably satisfactory to the Administrative Agent. 

(e)    (i) Any Lender that is entitled to an exemption from or reduction of withholding Tax with respect to payments
made under any Loan Document shall deliver to the Company and the Administrative Agent, at the time or times reasonably requested by the Company or the Administrative Agent, such properly completed and executed documentation prescribed by applicable
law or the taxing authorities of a jurisdiction pursuant to such applicable law or reasonably requested by the Company or the Administrative Agent as will permit such payments to be made without withholding or at a reduced rate of withholding. In
addition, any Lender, if reasonably requested by the Company or the Administrative Agent, shall deliver such other documentation prescribed by applicable law or reasonably requested by the Company or the Administrative Agent as will enable the
Company or the Administrative Agent to determine whether or not such Lender is subject to backup withholding or information reporting requirements. Notwithstanding anything to the contrary in the preceding two sentences, the completion, execution
and submission of such documentation (other than such documentation either (A) set forth in Section 3.01(e)(ii)(A), (ii)(B) and (ii)(D) below or (B) required by applicable law other than the Code, or
by the taxing authorities of the jurisdiction that promulgated such applicable law to satisfy the requirements for exemption or reduction of withholding tax in that jurisdiction) shall not be required if in the Lender’s reasonable judgment such
completion, execution or submission would subject such Lender to any material unreimbursed cost or expense or would materially prejudice the legal or commercial position of such Lender. 

(ii)    Without limiting the generality of the foregoing, in the event that a Borrower is a U.S. Person,

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

  
 59 

 (B)    any Foreign Lender shall, to the extent it is
legally entitled to do so, deliver to the Company and the Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from
time to time thereafter upon the reasonable request of the Company or the Administrative Agent), whichever of the following is applicable: 

(I)    in the case of a Foreign Lender claiming the benefits of an income tax treaty to which the United
States is a party (x) with respect to payments of interest under any Loan Document, executed copies of IRS Form W-8BENE (or W-8BEN, as applicable) establishing an
exemption from, or reduction of, U.S. federal withholding Tax pursuant to the “interest” article of such tax treaty and (y) with respect to any other applicable payments under any Loan Document, IRS Form
W-8BENE (or W-8BEN, as applicable) establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the “business profits” or
“other income” article of such tax treaty; 
 (II) executed copies of IRS Form
W-8ECI; 
 (III)    in the case of a Foreign Lender claiming the
benefits of the exemption for portfolio interest under Section 881(c) of the Code, (x) a certificate substantially in the form of Exhibit J-1 to the effect that such Foreign Lender is not a
“bank” within the meaning of Section 881(c)(3)(A) of the Code, a “10 percent shareholder” of the Company within the meaning of Section 871(h)(3)(B) of the Code, or a “controlled foreign corporation”
described in Section 881(c)(3)(C) of the Code (a “U.S. Tax Compliance Certificate”) and (y) executed copies of IRS Form W-8BENE (or W-8BEN, as
applicable); or 
 (IV)    to the extent a Foreign Lender is not the beneficial owner, executed copies
of IRS Form W-8IMY, accompanied by IRS Form W-8ECI, IRS Form W-8BENE (or W-8BEN, as
applicable), a U.S. Tax Compliance Certificate substantially in the form of Exhibit J-2 or Exhibit J-3, IRS Form W-9, and/or other certification documents from each beneficial owner, as applicable; provided that if the Foreign Lender is a partnership and one or more direct or indirect partners of such Foreign Lender are
claiming the portfolio interest exemption, such Foreign Lender may provide a U.S. Tax Compliance Certificate substantially in the form of Exhibit J-4 on behalf of each such direct and indirect partner;

 (C)    any Foreign Lender shall, to the extent it is legally entitled to do so, deliver to the Company
and the Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request
of the Company or the Administrative Agent), executed copies of any other form prescribed by applicable law as a basis for claiming exemption from or a reduction in U.S. federal withholding Tax, duly completed, together with such supplementary
documentation as may be prescribed by applicable law to permit the Company or the Administrative Agent to determine the withholding or deduction required to be made; and 

  
 60 

 (D)    if a payment made to a Lender under any Loan
Document would be subject to U.S. federal withholding Tax imposed by FATCA if such Lender were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as
applicable), such Lender shall deliver to the Company and the Administrative Agent at the time or times prescribed by law and at such time or times reasonably requested by the Company or the Administrative Agent such documentation prescribed by
applicable law (including as prescribed by Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably requested by the Company or the Administrative Agent as may be necessary for the Company and the Administrative Agent
to comply with their obligations under FATCA and to determine that such Lender has complied with such Lender’s obligations under FATCA or to determine the amount to deduct and withhold from such payment. Solely for purposes of this
clause (D), “FATCA” shall include any amendments made to FATCA after the date of this Agreement. 

(iii)    Each Lender agrees that if any form or certification it previously delivered pursuant to this
Section 3.01 expires or becomes obsolete or inaccurate in any respect, it shall update such form or certification or promptly notify the Company and the Administrative Agent in writing of its legal inability to do so. 

(f)    Unless required by applicable Laws, at no time shall the Administrative Agent have any obligation to file for or
otherwise pursue on behalf of a Lender or an L/C Issuer, or have any obligation to pay to any Lender or L/C Issuer, any refund of Taxes withheld or deducted from funds paid for the account of such Lender or L/C Issuer, as the case may be. If any
Recipient determines, in its sole discretion exercised in good faith, that it has received a refund of any Taxes as to which it has been indemnified by any Loan Party or with respect to which any Loan Party has paid additional amounts pursuant to
this Section 3.01, it shall pay to such Loan Party an amount equal to such refund (but only to the extent of indemnity payments made, or additional amounts paid, by a Loan Party under this
Section 3.01 with respect to the Taxes giving rise to such refund), net of all out-of-pocket expenses (including Taxes) incurred by such
Recipient, and without interest (other than any interest paid by the relevant Governmental Authority with respect to such refund), provided that each Loan Party, upon the request of the Recipient, agrees to repay the amount paid over to such
Loan Party (plus any penalties, interest or other charges imposed by the relevant Governmental Authority) to the Recipient in the event the Recipient is required to repay such refund to such Governmental Authority. Notwithstanding anything to the
contrary in this subsection, in no event will the applicable Recipient be required to pay any amount to such Loan Party pursuant to this subsection the payment of which would place the Recipient in a less favorable net
after-Tax position than such Recipient would have been in if the Tax subject to indemnification and giving rise to such refund had not been deducted, withheld or otherwise imposed and the indemnification
payments or additional amounts with respect to such Tax had never been paid. This subsection shall not be construed to require any Recipient to make available its tax returns (or any other information relating to its taxes that it deems
confidential) to any Loan Party or any other Person. 

  
 61 

 (g)    Each party’s obligations under this
Section 3.01 shall survive the resignation or replacement of the Administrative Agent or any assignment of rights by, or the replacement of, a Lender or an L/C Issuer, the termination of the Commitments and the repayment,
satisfaction or discharge of all other Obligations. 
 3.02    Illegality. If any Lender determines that any Law has made
it unlawful, or that any Governmental Authority has asserted that it is unlawful, for any Lender or its applicable Lending Office to perform any of its obligations hereunder or make, maintain or fund Eurocurrency Rate Loans (whether denominated in
Dollars or an Alternative Currency), or charge interest with respect to Credit Extensions or to determine or charge interest rates based upon the Eurocurrency Rate or any Governmental Authority has imposed material restrictions on the authority of
such Lender to purchase or sell, or to take deposits of, Dollars or any Alternative Currency in the applicable interbank market, then, on notice thereof by such Lender to the Company through the Agent, (i) any obligation of such Lender to
issue, make, maintain, fund or charge interest with respect to any such Credit Extension or to make or continue Eurocurrency Rate Loans in the affected currency or currencies or to convert Base Rate Committed Loans to Eurocurrency Rate Loans shall
be suspended and (ii) if such notice asserts the illegality of such Lender making or maintaining Base Rate Loans the interest rate on which is determined by reference to the Eurocurrency Rate component of the Base Rate, the interest rate on
which Base Rate Loans of such Lender shall, if necessary to avoid such illegality, be determined by the Administrative Agent without reference to the Eurocurrency Rate component of the Base Rate, in each case until such Lender notifies the Agent and
the Company that the circumstances giving rise to such determination no longer exist. Upon receipt of such notice, (x) the Borrowers shall, upon demand from such Lender (with a copy to the Agent), prepay or, solely in the case of Eurocurrency
Rate Loans denominated in Dollars convert all Eurocurrency Rate Loans of such Lender to Base Rate Loans (the interest rate on which Base Rate Loans of such Lender shall, if necessary to avoid such illegality, be determined by the Agent without
reference to the Eurocurrency Rate component of the Base Rate), either on the last day of the Interest Period therefor, if such Lender may lawfully continue to maintain such Eurocurrency Rate Loans to such day, or immediately, if such Lender may not
lawfully continue to maintain such Eurocurrency Rate Loans and (y) if such notice asserts the illegality of such Lender determining or charging interest rates based upon the Eurocurrency Rate, the Administrative Agent shall during the period of
such suspension compute the Base Rate applicable to such Lender without reference to the Eurocurrency Rate component thereof until the Administrative Agent is advised in writing by such Lender that it is no longer illegal for such Lender to
determine or charge interest rates based upon the Eurocurrency Rate. If any of the circumstances set forth above arise with respect to Loans denominated in an Alternative Currency, such Alternative Currency denominated Loans shall be made or
maintained, as applicable, at a rate for short term borrowings of such Alternative Currency determined in a customary manner in good faith by the Administrative Agent in consultation with the Company. Upon any such prepayment or conversion, the
Borrowers shall also pay accrued interest on the amount so prepaid or converted. 

  
 62 

 3.03    Inability to Determine Rates. 

(a)    If in connection with any request for a Eurocurrency Rate Loan or a conversion to or continuation thereof,
(i) the Administrative Agent determines that deposits (whether in Dollars or an Alternative Currency) are not being offered to banks in the applicable offshore interbank market for such currency for the applicable amount and Interest Period of
such Eurocurrency Rate Loan, or (ii) adequate and reasonable means do not exist for determining the Eurocurrency Rate for any requested Interest Period with respect to a proposed Eurocurrency Rate Loan (whether denominated in Dollars or an
Alternative Currency) or in connection with an existing or proposed Base Rate Loan (in each case with respect to clause (a) above, the “Impacted Loans”) or (b) the Administrative Agent or the Required Lenders determine
that for any reason the Eurocurrency Rate for any requested Interest Period with respect to a proposed Eurocurrency Rate Loan does not adequately and fairly reflect the cost to such Lenders of funding such Loan, the Administrative Agent will
promptly so notify the Company and each Lender. Thereafter, (x) the obligation of the Lenders to make or maintain Eurocurrency Rate Loans in the affected currency or currencies shall be suspended, (to the extent of the affected Eurocurrency
Rate Loans or Interest Periods), and (y) in the event of a determination described in the preceding sentence with respect to the Eurocurrency Rate component of the Base Rate, the utilization of the Eurocurrency Rate component in determining the
Base Rate shall be suspended, in each case until the Administrative Agent (upon the instruction of the Required Lenders) revokes such notice. Upon receipt of such notice, the applicable Borrower may revoke any pending request for a Borrowing of,
conversion to or continuation of Eurocurrency Rate Loans in the affected currency or currencies (to the extent of the affected Eurocurrency Rate Loans or Interest Periods) without cost or penalty or, failing that, will be deemed to have converted
such request into a request for a Committed Borrowing of Base Rate Loans in the amount specified therein. 

(b)    Notwithstanding the foregoing, if the Administrative Agent has made the determination described in
Section 3.03(a), the Administrative Agent in consultation with the Company and the Required Lenders, may establish an alternative interest rate for the Impacted Loans, in which case, such alternative rate of interest shall
apply with respect to the Impacted Loans until (1) the Administrative Agent revokes the notice delivered with respect to the Impacted Loans under clause (a) of the first sentence of Section 3.03(a), (2) the
Administrative Agent or the Required Lenders notify the Administrative Agent and the Company that such alternative interest rate does not adequately and fairly reflect the cost to such Lenders of funding the Impacted Loans, or
(3) any Lender determines that any Law has made it unlawful, or that any Governmental Authority has asserted that it is unlawful, for such Lender or its applicable Lending Office to make, maintain or fund Loans whose interest is determined by
reference to such alternative rate of interest or to determine or charge interest rates based upon such rate or any Governmental Authority has imposed material restrictions on the authority of such Lender to do any of the foregoing and provides the
Administrative Agent and the Company written notice thereof. 

  
 63 

 (c)    Notwithstanding anything to the contrary in this Agreement or any
other Loan Documents, if the Administrative Agent determines (which determination shall be conclusive absent manifest error), or the Company or Required Lenders notify the Administrative Agent (with, in the case of the Required Lenders, a copy to
the Company) that the Company or Required Lenders (as applicable) have determined, that: 

(i)    adequate and reasonable means do not exist for ascertaining Eurocurrency Rate for the applicable
currency for any requested Interest Period, including, without limitation, because the applicable Eurocurrency Rate is not available or published on a current basis and such circumstances are unlikely to be temporary; or 

(ii)    the administrator of LIBOR and/or CDOR or a Governmental Authority having jurisdiction over the
Administrative Agent has made a public statement identifying a specific date after which the applicable Eurocurrency Rate shall no longer be made available, or used for determining the interest rate of loans, provided that, at the time of such
statement, there is no successor administrator that is satisfactory to the Administrative Agent, that will continue to provide the applicable Eurocurrency Rate after such specific date (such specific date, the “Scheduled Unavailability
Date”); or 
 (iii)    syndicated loans currently being executed, or that include language
similar to that contained in this Section 3.03, are being executed or amended (as applicable) to incorporate or adopt a new benchmark interest rate to replace the applicable Eurocurrency Rate, 

then, reasonably promptly after such determination by the Administrative Agent or receipt by the Administrative Agent of such notice, as
applicable, the Administrative Agent and the Company may amend this Agreement solely for the purpose of replacing the applicable Eurocurrency Rate in accordance with this Section 3.03 with (x) with respect to any Eurocurrency Loans
denominated in Dollars, one or more SOFR-Based Rates or (y) another alternate benchmark rate giving due consideration to any evolving or then existing convention for similar syndicated credit facilities in the applicable currency for such
alternative benchmarks and, in each case, including any mathematical or other adjustments to such benchmark giving due consideration to any evolving or then existing convention for similar syndicated credit facilities in the applicable currency for
such benchmarks, which adjustment or method for calculating such adjustment shall be published on an information service as selected by the Administrative Agent from time to time in its reasonable discretion and may be periodically updated (the
“Adjustment”, and any such proposed rate, a “Eurocurrency Successor Rate”), and any such amendment shall become effective at 5:00 p.m. on the fifth Business Day after the Administrative Agent shall have posted such
proposed amendment to all Lenders and the Company unless, prior to such time, Lenders comprising the Required Lenders have delivered to the Administrative Agent written notice that such Required Lenders (A) in the case of an amendment to
replace LIBOR with a rate described in clause (x), object to the Adjustment; or (B) in the case of an amendment to replace the applicable Eurocurrency Rate with a rate described in clause (y), object to such amendment; provided that for
the avoidance of doubt, in the case of clause (A), the Required Lenders shall not be entitled to object to any SOFR-Based Rate contained in any such amendment.    Such Eurocurrency Successor Rate shall be applied in a manner
consistent with market practice; provided that to the extent such market practice is not administratively feasible for the Administrative Agent, such Eurocurrency Successor Rate shall be applied in a manner as otherwise reasonably determined
by the Administrative Agent. 

  
 64 

 If no Eurocurrency Successor Rate has been determined and the circumstances under clause
(i) above exist or the Scheduled Unavailability Date has occurred (as applicable), the Administrative Agent will promptly so notify the Company and each Lender. Thereafter, (x) the obligation of the Lenders to make or maintain the
applicable Eurocurrency Rate Loans shall be suspended, (to the extent of the affected Eurocurrency Rate Loans or Interest Periods), and (y) the Eurocurrency Rate component shall no longer be utilized in determining the Base Rate. Upon
receipt of such notice, the Company may revoke any pending request for a Borrowing of, conversion to or continuation of the applicable Eurocurrency Rate Loans (to the extent of the affected Eurocurrency Rate Loans or Interest Periods) or, failing
that, will be deemed to have converted such request into a request for a Borrowing of Base Rate Loans (subject to the foregoing clause (y)) in the amount of (i) for Eurocurrency Rate Loans denominated in Dollars, the amount specified therein
and (ii) for Eurocurrency Rate Loans denominated in Alternative Currencies, the Dollar Equivalent of the amount specified therein. 

Notwithstanding anything else herein, any definition of Eurocurrency Successor Rate shall provide that in no event shall such Eurocurrency
Successor Rate be less than zero for purposes of this Agreement. 
 In connection with the implementation of a Eurocurrency Successor Rate,
the Administrative Agent will have the right to make Eurocurrency Successor Rate Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any other Loan Document, any amendments implementing such Eurocurrency
Successor Rate Conforming Changes will become effective without any further action or consent of any other party to this Agreement; provided that, with respect to any such amendment effected, the Administrative Agent shall post each such
amendment implementing such Eurocurrency Successor Rate Conforming Changes to the Lenders reasonably promptly after such amendment becomes effective. 

3.04    Increased Cost and Reduced Return; Capital Adequacy. 

(a)    Increased Costs Generally. If any Change in Law shall: 

(i)    impose, modify or deem applicable any reserve, special deposit, compulsory loan, insurance charge or similar
requirement against assets of, deposits with or for the account of, or credit extended or participated in by, any Lender (except any reserve requirement reflected in the Eurocurrency Rate) or L/C Issuer; 

(ii)    subject any Lender or Agent to any taxes of any kind whatsoever (other than (A) Indemnified Taxes,
(B) Taxes described in clauses (b)-(d) of the definition of Excluded Taxes and (C) Connection Income Taxes) on its loans, loan principal, letters of credit, commitments, or other obligations, or its deposits, reserves, other
liabilities or capital attributable thereto; or 

  
 65 

 (iii)    impose on any Lender or L/C Issuer or the London interbank
market any other condition, cost or expense affecting this Agreement or Eurocurrency Rate Loans made by such Lender or any Letter of Credit or participation therein; 

and the result of any of the foregoing shall be to increase the cost to such Lender of making, converting to, continuing or maintaining any
Eurocurrency Rate Loan or of maintaining its obligation to make any such Loan, or to increase the cost to such Lender or L/C Issuer of participating in, issuing or maintaining any Letter of Credit (or of maintaining its obligation to participate in
or to issue any Letter of Credit), or to reduce the amount of any sum received or receivable by such Lender or L/C Issuer hereunder (whether of principal, interest or any other amount) then, upon request of such Lender or L/C Issuer, the Borrowers
will pay to such Lender or L/C Issuer, as the case may be, such additional amount or amounts as will compensate such Lender or L/C Issuer, as the case may be, for such additional costs incurred or reduction suffered. 

(b)    Capital Requirements. If any Lender or L/C Issuer determines that any Change in Law affecting such Lender or
L/C Issuer or any Lending Office of such Lender or such Lender’s or L/C Issuer’s holding company, if any, regarding capital or liquidity requirements, has or would have the effect of reducing the rate of return on such Lender’s or L/C
Issuer’s capital or on the capital of such Lender’s or L/C Issuer’s holding company, if any, as a consequence of this Agreement, the Commitments of such Lender or the Loans made by, or participations in Letters of Credit held by, such
Lender, or the Letters of Credit issued by such L/C Issuer, to a level below that which such Lender or L/C Issuer or such Lender’s or L/C Issuer’s holding company could have achieved but for such Change in Law (taking into consideration
such Lender’s or L/C Issuer’s policies and the policies of such Lender’s or L/C Issuer’s holding company with respect to capital adequacy), then from time to time the Borrowers will pay to such Lender or L/C Issuer, as the case
may be, such additional amount or amounts as will compensate such Lender or L/C Issuer or such Lender’s or L/C Issuer’s holding company for any such reduction suffered. 

(c)    The Company shall pay (or cause the applicable Designated Borrower to pay) to each Lender, as long as such Lender
shall be required to comply with any reserve ratio requirement or analogous requirement of any other central banking or financial regulatory authority imposed as a result of a Change in Law in respect of the maintenance of the Commitments or the
funding of the Eurocurrency Rate Loans denominated in a currency other than U.S. Dollars, such additional costs (expressed as a percentage per annum and rounded upwards, if necessary, to the nearest five decimal places) equal to the actual costs
allocated to such Commitment or Loan by such Lender (as determined by such Lender in good faith), which in each case shall be due and payable on each date on which interest is payable on such Loan, provided the Company shall have received at least
30 days’ prior notice (with a copy to the Administrative Agent) of such additional costs from such Lender. If a Lender fails to give notice 30 days prior to the relevant Interest Payment Date, such additional costs shall be due and payable 30
days from receipt of such notice. 
 (d)    Failure or delay on the part of any Lender to demand compensation pursuant
to this Section 3.04 shall not constitute a waiver of such Lender’s right to demand such compensation; provided that, notwithstanding the provisions of Sections 3.04(a), 3.04(b) and 3.04(c),
(i) the Borrowers shall only be liable for amounts in respect of increased costs or reductions for the period beginning up to six months prior to the date on which such demand was made (except that, if the Change in Law giving rise to such
increased costs or reductions is retroactive, then the six month period referred to above shall be extended to include the period of retroactive effect thereof), and (ii) the Lender claiming compensation therefor shall have applied consistent
return metrics applied to other similarly situated borrowers or obligors with respect to such increased costs or reductions. 

  
 66 

 3.05    Funding Losses. Upon demand of any Lender (with a copy to the
Administrative Agent) from time to time, the Company shall promptly compensate such Lender for and hold such Lender harmless from any loss, cost or expense incurred by it as a result of: 

(a)    any continuation, conversion, payment or prepayment of any Eurocurrency Rate Loan on a day other than the last day
of the Interest Period for such Loan (whether voluntary, mandatory, automatic, by reason of acceleration, or otherwise); 

(b)    any failure by a Borrower (for a reason other than the failure of such Lender to make a Loan) to prepay, borrow,
continue or convert any Eurocurrency Rate Loan on the date or in the amount notified by such Borrower; 
 (c)    any
failure by any Borrower to make payment of any Loan or drawing under any Letter of Credit (or interest due thereon) denominated in an Alternative Currency on its scheduled due date or any payment thereof in a different currency; or 

(d)    any assignment of a Eurocurrency Rate Loan on a day other than the last day of the Interest Period therefor as a
result of a request by the Company pursuant to Section 11.15; 
 including any foreign exchange losses and any
loss or expense arising from the liquidation or reemployment of funds obtained by it to maintain such Loan or from fees payable to terminate the deposits from which such funds were obtained for the performance of any foreign exchange contracts, in
each case, excluding loss of any anticipated profits; 
 provided that the Company shall have no obligation to pay to any Lender any
of the foregoing amounts incurred in connection with such Lender being a Defaulting Lender. 
 For purposes of calculating amounts payable
by the Company to the Lenders under this Section 3.05, each Lender shall be deemed to have funded each Eurocurrency Rate Loan made by it at the Eurocurrency Base Rate used in determining the Eurocurrency Rate for such Loan
by a matching deposit or other borrowing in the London interbank eurodollar market for a comparable amount and for a comparable period, whether or not such Eurocurrency Rate Loan was in fact so funded. 

3.06    Matters Applicable to Illegality and all Requests for Compensation. 

(a)    A certificate of the Administrative Agent or any Lender claiming compensation under this ARTICLE III
and setting forth the additional amount or amounts to be paid to it hereunder shall be conclusive in the absence of manifest error; provided that, in the case of any such certificate delivered pursuant to
Section 3.04, such certificate (i) sets forth in reasonable detail the amount or amounts payable to such Lender pursuant to Section 3.04(a) and 3.04(b) and the basis for determining
such amount or amounts and (ii) explains the methodology used to determine such amount. The Borrowers shall pay such Lender the amount shown as due on any such certificate within 10 days after receipt thereof. In determining such amount, the
Administrative Agent or such Lender may use any reasonable averaging and attribution methods. 

  
 67 

 (b)    Each Lender may make any Credit Extension to any Borrower through
any Lending Office, provided that the exercise of this option shall not affect the obligation of the applicable Borrower to repay the Credit Extension in accordance with the terms of this Agreement. If any Lender requests compensation under
Section 3.04, or requires any Borrower to pay any Indemnified Taxes or additional amounts to any Lender, L/C Issuer, or any Governmental Authority for the account of any Lender or L/C Issuer pursuant to
Section 3.01, or if any Lender gives a notice pursuant to Section 3.02, then at the request of the Company such Lender or L/C Issuer shall, as applicable, use reasonable efforts to designate a
different Lending Office for funding or booking its Loans hereunder or to assign its rights and obligations hereunder to another of its offices, branches or affiliates, if, in the judgment of such Lender or L/C Issuer, such designation or assignment
(i) would eliminate or reduce amounts payable pursuant to Section 3.01 or Section 3.04, as the case may be, in the future, or eliminate the need for notice pursuant to
Section 3.02, as applicable, and (ii) in each case, would not subject such Lender or L/C Issuer, as the case may be, to any unreimbursed cost or expense and would not, in the good faith judgment of such Lender or L/C
Issuer, as the case may be, otherwise be materially disadvantageous to such Lender or L/C Issuer, as the case may be. The Company hereby agrees to pay (or cause the applicable Designated Borrower to pay) all reasonable costs and expenses incurred by
any Lender or L/C Issuer in connection with any such designation or assignment requested by the Company. 
 (c)    Upon
any Lender’s making a claim for compensation under Section 3.04 or if any Borrower is required to pay amounts to any Lender under Section 3.01 as a result of any Taxes or Other Taxes, in each
case the Company may, subject to Section 3.06(b), replace such Lender in accordance with Section 11.15. Upon any Lender’s giving notice and suspending its obligations relating to Eurocurrency Rate Loans in
accordance with Section 3.02(a), the Company may replace such Lender in accordance with Section 11.15. 

3.07    Survival. All of the Borrowers’ obligations under this ARTICLE III shall survive termination of the
Aggregate Commitments and repayment of all other Obligations hereunder. 
 ARTICLE IV 

CONDITIONS PRECEDENT TO CREDIT EXTENSIONS 

4.01    Conditions to Effectiveness. Effectiveness of this Agreement is subject to satisfaction of the following conditions
precedent: 
 (a)    The Administrative Agent’s receipt of the following, each of which shall be originals,
facsimiles or PDFs (followed promptly by originals) unless otherwise specified, each properly executed by a Responsible Officer of the signing Loan Party, each dated the date hereof (or, in the case of certificates of governmental officials, a
recent date before the date hereof) and each in form and substance satisfactory to the Administrative Agent and each of the Lenders: 
 (i)
executed counterparts of this Agreement, sufficient in number for distribution to the Administrative Agent, each Lender and each Loan Party; 

  
 68 

 (ii)    if requested by any Lender at least two Business Days before the
date hereof, a Note executed by the Borrowers in favor of each Lender so requesting a Note; 
 (iii)    such
certificates of resolutions or other action, incumbency certificates and/or other certificates of Responsible Officers or the corporate secretary or assistant secretary of the Company as the Administrative Agent may require evidencing the identity,
authority and capacity of each Responsible Officer thereof authorized to act as a Responsible Officer in connection with this Agreement and the other Loan Documents to which such Loan Party is a party; 

(iv)    each of the following documents: 

(A)    the Articles or certificate of incorporation and the bylaws of the Company as in effect on the date hereof,
certified by the Secretary or Assistant Secretary of the Company as of the date hereof; and 
 (B)    a good standing
and tax good standing certificate for the Company from the applicable Secretary of State (or similar, applicable Governmental Authority) of the States of Delaware and California dated as of a recent date; 

(v)    favorable opinions, addressed to the Agent and the Lenders, of (A) Michele Lau, SVP, Corporate Secretary and
Associate General Counsel of the Company, in form and substance satisfactory to the Administrative Agent regarding such matters as the Administrative Agent may reasonably request; and (B) Morrison & Foerster LLP, special counsel to the
Company, as to certain matters of New York law; 
 (vi)    a certificate signed by a Responsible Officer of the Company:

 (A)    certifying that: 

(1)    the representations and warranties contained in ARTICLE V and the other Loan Documents are true and correct
on and as of such date, as though made on and as of such date; 
 (2)    no Default or Event of Default exists or, if
applicable, would result from the initial Borrowing; 
 (3)    there has occurred since March 31, 2019, no event or
circumstance that has resulted or could reasonably be expected to result in a Material Adverse Effect; 
 (4)    each of
the conditions in Sections 4.01(a) and 4.01(b) has been satisfied on the part of the Company as of the date hereof; 

(B)    designating the date hereof; and 

  
 69 

 (C)    indicating the Debt Ratings; 

(vii)    such other assurances, certificates, documents, consents or opinions as the Administrative Agent, the L/C Issuers
or the Required Lenders reasonably may require. 
 (b)    Any fees required by the Loan Documents to be paid, and all
reimbursable expenses for which invoices have been presented, to the Agent, the L/C Issuers, the Arrangers or any Lender on or before the date hereof shall have been paid, to the extent that such invoices have been presented to the Company on or
before the date hereof. 
 (c)    Unless waived by the Administrative Agent, the Company shall have paid all Attorney
Costs of the Administrative Agent to the extent invoiced to the Company prior to or on the date hereof, plus such additional amounts of Attorney Costs as shall constitute its reasonable estimate of Attorney Costs incurred or to be incurred by it
through the proceedings (provided that such estimate shall not thereafter preclude a final settling of accounts between the Company and the Administrative Agent). 

(d)    Since March 31, 2019, no Material Adverse Effect shall have occurred or become known to the Administrative
Agent. 
 (e)    The commitments of the lenders under the Existing Revolving Credit Agreement shall have been terminated
and all the obligations under the Existing Revolving Credit Agreement shall have been repaid or prepaid (which repayment or prepayment may be made with the proceeds of the initial Credit Extension hereunder), and the Administrative Agent shall have
received evidence satisfactory to it thereof. 
 (f)    The Administrative Agent shall have received, (i) at least
three (3) Business Days prior to the Closing Date, all documentation and other information required by regulatory authorities under applicable “know your customer” and anti-money laundering rules and regulations, including the PATRIOT
Act, as is reasonably requested in writing by the Administrative Agent at least ten (10) Business Days prior to the Closing Date and (ii) at least three (3) Business Days prior to the Closing Date, any Loan Party that qualifies as a
“legal entity customer” under the Beneficial Ownership Regulation shall have delivered, to each Lender that so requests at least ten (10) Business Days prior to the Closing Date, a Beneficial Ownership Certification in relation to
such Loan Party. 
 Without limiting the generality of the provisions of Section 9.05, for purposes of determining
compliance with the conditions specified in this Section 4.01, each Lender that has signed this Agreement shall be deemed to have consented to, approved or accepted or to be satisfied with, each document or other matter
explicitly required under this Section 4.01 to be consented to or approved by or acceptable or satisfactory to a Lender unless the Administrative Agent shall have received notice from such Lender prior to the proposed date
hereof specifying its objection thereto. 
 4.02    Existing Revolving Credit Agreement (a) On the date hereof, the
“Commitments” as defined in the Existing Revolving Credit Agreement shall terminate, without further action by any party thereto. 

  
 70 

 (b)    The Lenders which are parties to the Existing Revolving Credit
Agreement, comprising the “Required Lenders” as defined in the Existing Revolving Credit Agreement hereby waive any requirement of prior notice of termination of the Commitments (as defined in the Existing Revolving Credit Agreement)
pursuant to Section 2.06 thereof and of prepayment of loans thereunder, to the extent necessary to give effect to 4.01(e) hereof, provided that any such prepayment of loans thereunder shall be subject to
Section 2.05 of the Existing Revolving Credit Agreement. 
 4.03    Conditions to all Credit
Extensions. The obligation of each Lender to honor any Request for Credit Extension (other than a Committed Loan Notice requesting only a conversion of Committed Loans to the other Type, or a continuation of Eurocurrency Rate Loans) is subject
to the following conditions precedent: 
 (a)    The representations and warranties of each Borrower contained in
ARTICLE V or any other Loan Document, or which are contained in any document furnished at any time under or in connection herewith or therewith, shall be true and correct on and as of the date of such Credit Extension, except to the extent
that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct as of such earlier date, and except that for purposes of this Section 4.03, the representations
and warranties contained in Section 5.08(a) shall be deemed to refer to the most recent statements furnished pursuant Sections 6.01(a) and 6.01(b), respectively. 

(b)    No Default shall exist, or would result from such proposed Credit Extension. 

(c)    The Administrative Agent and, if applicable, any L/C Issuer, shall have received a Request for Credit Extension in
accordance with the requirements hereof. 
 (d)    If the applicable Borrower is a Designated Borrower, then the
conditions of Section 2.16 related to the designation of such Borrower as a Designated Borrower shall have been met to the satisfaction of the Administrative Agent. 

Each Request for Credit Extension (other than a Committed Loan Notice requesting only a conversion of Committed Loans to the other Type or a
continuation of Eurocurrency Rate Loans) submitted by the Company, shall be deemed to be a representation and warranty that the conditions specified in Sections 4.03(a), (b) and (d) have been satisfied on and as of the date of the
applicable Credit Extension. 
 ARTICLE V 

REPRESENTATIONS AND WARRANTIES 

Each Borrower represents and warrants (which representations and warranties in the case of any Borrower other than the Company shall be
limited to such Borrower and its Subsidiaries and other facts and circumstances known to such Borrower and its Subsidiaries) to the Administrative Agent and each Lender that: 

5.01    Corporate Existence and Power. Each Borrower: 

(a)    is duly organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation or
organization; 

  
 71 

 (b)    has the power and authority and all required governmental
licenses, authorizations, consents and approvals to own its assets, carry on its business and to execute, deliver, and perform its obligations under the Loan Documents to which it is a party; 

(c)    is duly qualified and is licensed and in good standing under the laws of each jurisdiction where its ownership,
lease or operation of property or the conduct of its business requires such qualification or license; and 
 (d)    is
in compliance with all Requirements of Law; 
 except, with respect to clause (c) or clause (d), to the extent that the failure to do so could not
reasonably be expected to have a Material Adverse Effect. 
 5.02    Corporate Authorization; No Contravention. The
execution, delivery and performance by each Borrower of this Agreement and each other Loan Document to which such Borrower is party, and any Borrowing as of the date of such Borrowing have been duly authorized by all necessary corporate action, and
do not and will not: 
 (a)    contravene the terms of any Borrower’s Organization Documents; 

(b)    conflict with or result in any breach or contravention of, or the creation of any Lien under, any document
evidencing any Contractual Obligation to which any Borrower is a party or any order, injunction, writ or decree of any Governmental Authority to which any Borrower or its property is subject; or 

(c)    violate any Requirement of Law. 

5.03    Governmental Authorization. No approval, consent, exemption, authorization, or other action by, or notice to, or
filing with, any Governmental Authority (each of the foregoing, an “Authorization”) is necessary or required in connection with the execution, delivery or performance by, or enforcement against, any Borrower of the Agreement or any other
Loan Document, except to the extent that failure to have obtained or completed, as applicable, such Authorization would not result in a Material Adverse Effect. 

5.04    Binding Effect. This Agreement and each other Loan Document to which each Borrower is a party constitute the legal,
valid and binding obligations of such Borrower, enforceable against such Borrower in accordance with their respective terms, except as enforceability may be limited by applicable bankruptcy, insolvency, or similar laws affecting the enforcement of
creditors’ rights generally or by equitable principles relating to enforceability. 
 5.05    Litigation. There are
no actions, suits, proceedings, claims or disputes pending, or to the best knowledge of each Borrower, threatened or contemplated, at law, in equity, in arbitration or before any Governmental Authority, against any Borrower, or its Subsidiaries or
any of their respective properties which: 
 (a)    purport to pertain to this Agreement or any other Loan Document, or
any of the transactions contemplated hereby or thereby; or 

  
 72 

 (b)    if determined adversely to the Company or its Subsidiaries, would
reasonably be expected to have a Material Adverse Effect which has not been disclosed in the Company’s annual report for period ending March 31, 2019 on Form 10-K. No injunction, writ, temporary
restraining order or any order of any nature has been issued by any court or other Governmental Authority purporting to enjoin or restrain the execution, delivery or performance of this Agreement or any other Loan Document, or directing that the
transactions provided for herein or therein not be consummated as herein or therein provided. 
 5.06    No Default. No
Default or Event of Default exists or would result from the incurring of any Obligations by any Borrower. As of the date hereof, neither the Company nor any Subsidiary is in default under or with respect to any Contractual Obligation in any respect
which, individually or together with all such defaults, could reasonably be expected to have a Material Adverse Effect as of the date hereof, or that would, if such default had occurred after the date hereof, create an Event of Default under
Section 8.01(e). 
 5.07    Use of Proceeds; Margin Regulations. The proceeds of the Loans are
to be used solely for the purposes set forth in Section 6.10. Neither the Company nor any Subsidiary is generally engaged in the business of purchasing or carrying Margin Stock (other than the Company’s own treasury
stock) or extending credit for the purpose of purchasing or carrying Margin Stock. 
 5.08    Financial Condition.
(a) The Audited Financial Statements: 
 (A)    were prepared in accordance with GAAP consistently applied
throughout the period covered thereby, except as otherwise expressly noted therein, subject in the case of the unaudited statements to ordinary, good faith year end audit adjustments; 

(B)    fairly present the financial condition of the Company and its Subsidiaries as of the date thereof and results of
operations for the period covered thereby; and 
 (C)    show all material indebtedness and other liabilities, direct
or contingent, of the Company and its consolidated Subsidiaries as of the date thereof required to be shown in accordance with GAAP. 

(b)    As of the date hereof, since March 31, 2019, there has been no Material Adverse Effect. 

5.09    Regulated Entities. None of the Company, any Person controlling the Company, or any Subsidiary, is or is required to
be registered as an “investment company” within the meaning of the Investment Company Act of 1940. 

5.10    Taxes. Except to the extent that failure to have so filed or paid would not result in a Material Adverse
Effect, each Borrower and its Subsidiaries have timely filed or caused to be filed all Federal, state and other material tax returns and reports required to be filed, and have paid all Federal, state and other material taxes, assessments, fees and
other governmental charges levied or imposed upon them or their properties, income or assets otherwise due and payable, except those which are being contested in good faith by appropriate proceedings diligently conducted and for which adequate
reserves have been provided in accordance with GAAP. There is no proposed tax assessment against any Borrower or any Subsidiary that would, if made, have a Material Adverse Effect. Neither any Borrower nor any Subsidiary thereof is party to any tax
sharing agreement other than an agreement solely between one or more Borrowers or Subsidiaries. 

  
 73 

 5.11    Sanctions. No Borrower, nor any of its Subsidiaries, nor, to the
knowledge of the Company, any director, officer, or employee thereof, nor, to the knowledge of the Company, any agent thereof that will act in any capacity in connection with or directly benefit from the credit facility established hereby, is an
individual or entity that is, or is owned or controlled by one or more individuals or entities that are (i) currently the subject or target of any Sanctions, (ii) included on OFAC’s List of Specially Designated Nationals, HMT’s
Consolidated List of Financial Sanctions Targets and the Investment Ban List, or any similar list enforced by OFAC or HMT or (iii) located, organized or resident in a Designated Jurisdiction. Each Borrower and its Subsidiaries conduct
their businesses in compliance in all material respects with all applicable Sanctions. Each Borrower and its Subsidiaries have instituted and maintain policies and procedures designed to promote and achieve compliance with all applicable
Sanctions. 
 5.12    Anti-Corruption Laws and Anti-Money Laundering Laws. Each Borrower and its Subsidiaries are in
compliance in all material respects with the United States Foreign Corrupt Practices Act of 1977, the UK Bribery Act 2010, and other similar anti-corruption legislation in other jurisdictions in which the Borrowers or any of their Subsidiaries
conduct business and with all applicable Anti-Money Laundering Laws. Each Borrower and its Subsidiaries have instituted and maintain policies and procedures designed to promote and achieve compliance with all applicable anti-corruption laws. 

5.13    ERISA. No ERISA Event has occurred or is reasonably expected to occur that, when taken together with all other such
ERISA Events, would reasonably be expected to result in a Material Adverse Effect. 
 5.14    Beneficial Ownership
Certification. As of the Closing Date, the information included in the Beneficial Ownership Certification, if applicable, is true and correct in all respects. 

ARTICLE VI     

AFFIRMATIVE COVENANTS 
 So
long as any Lender shall have any Commitment hereunder, any Loan or other Obligation (other than Obligations under Section 11.04(b) that remain contingent after termination of the Commitments and payment of all other
Obligations) hereunder shall remain unpaid or unsatisfied, or any Letter of Credit shall remain outstanding, unless the Required Lenders waive compliance in writing: 

6.01    Financial Statements. The Company shall deliver to the Administrative Agent, in form and detail satisfactory to the
Administrative Agent and the Required Lenders: 
 (a)    as soon as available, but in any event within 70 days after the
end of each fiscal year of the Company, a consolidated balance sheet of the Company and its Subsidiaries as at the end of such fiscal year, and the related consolidated statements of operations, shareholders’ equity and cash flows for such
fiscal year, setting forth in each case in comparative form the figures for the previous fiscal year, all in reasonable detail and prepared in accordance with GAAP, audited and accompanied by a report and opinion of Deloitte & Touche LLP or
another nationally recognized independent certified public accountant, which report and opinion shall be prepared in accordance with GAAP and shall not be subject to any “going concern” or like qualification or exception or any
qualification or exception as to the scope of such audit; and 

  
 74 

 (b)    as soon as available, but in any event within 55 days after the
end of each of the first three fiscal quarters of each fiscal year of the Company, a consolidated balance sheet of the Company and its Subsidiaries as at the end of such fiscal quarter, and the related consolidated statements of operations,
shareholders’ equity and cash flows for such fiscal quarter and for the portion of the Company’s fiscal year then ended, setting forth in each case in comparative form the figures for the corresponding fiscal quarter of the previous fiscal
year and the corresponding portion of the previous fiscal year, all in reasonable detail and certified by a Responsible Officer of the Company as fairly presenting the financial condition, results of operations, shareholders’ equity and cash
flows of the Company and its Subsidiaries in accordance with GAAP, subject only to normal year-end audit adjustments and the absence of footnotes. As to any information contained in materials furnished
pursuant to Section 6.02(b), the Company shall not be separately required to furnish such information under clause (a) or (b) above, but the foregoing shall not be in derogation of the obligation of the Company to
furnish the information and materials described in Sections 6.01(a) and 6.01(b) at the times specified therein. 

6.02    Certificates; Other Information. The Company shall deliver to the Administrative Agent: 

(a)    concurrently with the delivery of the financial statements referred to in Sections 6.01(a) and
6.01(b), a duly completed Compliance Certificate signed by a Responsible Officer of the Company; 

(b)    promptly after the same are available, copies of each annual report, proxy or financial statement or other report
or communication sent to the stockholders of the Company, and copies of all annual, regular, periodic and special reports and registration statements which the Company may file or be required to file with the SEC under Section 13 or 15(d) of
the Securities Exchange Act of 1934, and not otherwise required to be delivered to the Administrative Agent pursuant hereto; 

(c)    promptly, such additional information regarding the business, financial or corporate affairs of the Borrowers or
any Subsidiary, or compliance with the terms of the Loan Documents, as the Administrative Agent or any Lender may from time to time reasonably request; and 

(d)    promptly following any request therefor, provide information and documentation reasonably requested by the
Administrative Agent or any Lender for purposes of compliance with applicable “know your customer” and anti-money-laundering rules and regulations, including, without limitation, the PATRIOT Act and the Beneficial Ownership Regulation.

  
 75 

 Documents required to be delivered pursuant to Sections 6.01(a) or
6.01(b) or 6.02(b) or Section 6.03 may be delivered electronically and if so delivered, shall be deemed to have been delivered on the date (i) on which it is publicly available at no charge on the
EDGAR system of the United States Securities and Exchange Commission, (ii) on which the Company posts such documents, or provides a link thereto on the Company’s website on the Internet at the website address listed on Schedule
11.02; or (iii) on which such documents are posted on the Company’s behalf on IntraLinks, SyndTrak or another similar electronic system (a “Platform”), if any, to which each Lender and the Administrative Agent have
access (whether a commercial, third-party website or whether sponsored by the Administrative Agent). The Administrative Agent shall have no obligation to request the delivery or to maintain copies of the documents referred to above, and in any event
shall have no responsibility to monitor compliance by the Company with any such request for delivery, and each Lender shall be solely responsible for requesting delivery to it or maintaining its copies of such documents. 

The Borrowers hereby acknowledge that (a) the Administrative Agent may make available to the Lenders and the L/C Issuers materials and/or
information provided by or on behalf of the Borrowers under Sections 6.01(a), 6.01(b), 6.02(a), 6.02(b), and Section 6.03 (and any other such materials and/or information to the extent the
applicable Borrower has previously consented in writing) (collectively, “Borrower Materials”) by posting the Borrower Materials on a Platform and (b) certain of the Lenders (each, a “Public Lender”) may have
personnel who do not wish to receive material non-public information with respect to any of the Borrowers or their respective affiliates, or the respective securities of any of the foregoing, and who may be
engaged in investment and other market-related activities with respect to such Persons’ securities. The Borrowers hereby agree that (a) all Borrower Materials that are to be made available to Public Lenders shall be clearly and
conspicuously marked “PUBLIC” which, at a minimum, shall mean that the word “PUBLIC” shall appear prominently on the first page thereof; (b) by marking Borrower Materials “PUBLIC,” the Borrowers shall be deemed to
have authorized the Administrative Agent, the L/C Issuers and the Lenders to treat such Borrower Materials as publicly available information with respect to the Borrowers or their respective securities for purposes of United States Federal and state
securities laws; (c) all Borrower Materials marked “PUBLIC” are permitted to be made available through a portion of a Platform designated “Public Investor”; and (d) the Administrative Agent shall be entitled to treat
any Borrower Materials that are not marked “PUBLIC” as being suitable only for posting on a portion of a Platform not designated “Public Investor”. 

6.03    Notices. Each Borrower shall promptly notify the Administrative Agent: 

(a)    of the occurrence of any Default; 

(b)    of any matter that has resulted or could reasonably be expected to result in a Material Adverse Effect; 

(c)    of (i) the occurrence of any ERISA Event with respect to a Pension Plan or Multiemployer Plan which has
resulted or could reasonably be expected to result in liability of any Borrower or any of its Subsidiaries in an aggregate amount in excess of $50,000,000 during the term of this Agreement, or (ii) the existence of an amount of unfunded benefit
liabilities (as defined in Section 4001(a)(18) of ERISA), individually or in the aggregate for all Pension Plans (excluding for purposes of such computation any Pension Plans with respect to which assets exceed benefit liabilities), which
exceeds 3% of Net Worth. 

  
 76 

 Notification delivered to the Administrative Agent and each Lender by any Borrower under
this Section 6.03 shall satisfy the notice obligation of all Borrowers hereunder. Each notice pursuant to this Section 6.03 shall be accompanied by a statement of a Responsible Officer of the
Company setting forth details of the occurrence referred to therein and stating what action the Company has taken and proposes to take with respect thereto. Each notice pursuant to Section 6.03(a) shall describe with
particularity any and all provisions of this Agreement and any other Loan Document that have been breached. 

6.04    Preservation of Existence, Etc. Each Borrower shall, and shall cause each of its Material Subsidiaries to,
(a) preserve, renew and maintain in full force and effect its legal existence and good standing under the Laws of the jurisdiction of its organization except in a transaction permitted by Section 7.02 and (b) take
all reasonable action to maintain all governmental rights, privileges, permits, licenses and franchises necessary in the normal conduct of its business, except in connection with transactions permitted by Section 7.02 and
except to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect. 

6.05    Maintenance of Insurance. Each Borrower shall, and shall cause each of its Material Subsidiaries to, maintain with
financially sound and reputable insurance companies, insurance (including self-insurance) with respect to its properties and business against loss or damage of the kinds customarily insured against by Persons engaged in the same or similar business,
of such types and in such amounts as the Company reasonably deems prudent from time to time. 
 6.06    Payment of Taxes.
Each Borrower shall, and shall cause each of its Material Subsidiaries to, pay and discharge as the same shall become due and payable, all tax liabilities, assessments and governmental charges or levies upon it or its properties or assets (other
than obligations that a Responsible Officer is not aware of or are of a nominal amount), unless the same are being contested in good faith by appropriate proceedings diligently conducted and adequate reserves in accordance with GAAP are being
maintained by the Company or such Material Subsidiary, and except to the extent that failure to so pay and discharge, either individually or in the aggregate, would not result in a Material Adverse Effect. 

6.07    Compliance with Laws. Each Borrower shall, and shall cause each of its Material Subsidiaries to, comply in all
material respects with the Requirements of Law applicable to it or to its business, except in such instances in which (a) a Requirement of Law is being contested in good faith by appropriate proceedings diligently conducted; or (b) the
failure to comply therewith could not reasonably be expected to have a Material Adverse Effect. 
 6.08    Books and
Records. Each Borrower shall, and shall cause each of its Material Subsidiaries to, maintain in all material respects proper books of record and account, in which full, true and correct entries in conformity with GAAP consistently applied shall
be made of all financial transactions and matters involving the assets and business of the Company and such Material Subsidiary, as the case may be. 

  
 77 

 6.09    Inspection Rights. Each Borrower shall, and shall cause each of
its Material Subsidiaries to, permit representatives and independent contractors of the Administrative Agent, on behalf of itself or a request of any Lender, to visit and inspect any of its properties, to examine its corporate, financial and
operating records, and make copies thereof or abstracts therefrom, and to discuss its affairs, finances and accounts with its directors, officers, and independent public accountants, all at such reasonable times during normal business hours and upon
reasonable advance notice to the Company and the applicable Borrower that is the subject of such inspection; provided, however, that when an Event of Default exists the representatives and independent contractors of the Administrative
Agent may do any of the foregoing at the reasonable expense of the Borrowers at any time during normal business hours and upon reasonable advance notice to the Company and the applicable Borrower that is the subject of such inspection; provided,
further, that so long as no Event of Default exists, no Borrower shall be required to or to cause any Material Subsidiary to, permit more than one such visit or inspection on more than one occasion in any twelve-month period. 

6.10    Use of Proceeds. The Borrowers shall use the proceeds of the Credit Extensions for general corporate purposes
(including the refinancing of existing indebtedness and acquisitions) not in contravention of any Law or of any Loan Document. 

6.11    Anti-Corruption Laws; Sanctions. The Borrowers shall, and shall cause each Subsidiary to, (i) conduct its
businesses in compliance in all material respects with the United States Foreign Corrupt Practices Act of 1977, the UK Bribery Act 2010, and other similar anti-corruption legislation in other jurisdictions in which any Borrower or any of its
Subsidiaries conduct business, all applicable Sanctions and all applicable Anti-Money Laundering Laws and (ii) maintain policies and procedures designed to promote and achieve compliance with all applicable anti-corruption laws and all
applicable Sanctions. 
 ARTICLE VII 

NEGATIVE COVENANTS 
 So
long as any Lender shall have any Commitment hereunder, any Loan or other Obligation (other than Obligations under subsection 11.04(b) that remain contingent after termination of the Commitments and payment of all other Obligations) hereunder shall
remain unpaid or unsatisfied, or any Letter of Credit shall remain outstanding, unless the Required Lenders waive compliance in writing: 

7.01    Liens. No Borrower shall, or shall suffer or permit any of its Material Subsidiaries to, directly or indirectly,
create, incur, assume or suffer to exist any Lien upon any of its property, whether now owned or hereafter acquired, other than the following (“Permitted Liens”): 

(a)    any Lien existing on property of the Company or any Material Subsidiary on the date hereof securing Indebtedness
outstanding on such date; 

  
 78 

 (b)    any Lien created under any Loan Document; 

(c)    Liens for taxes, fees, assessments or other governmental charges not yet due or which are being contested in good
faith and by appropriate proceedings diligently conducted, if adequate reserves with respect thereto are maintained on the books of the applicable Person in accordance with GAAP; 

(d)    carriers’, warehousemen’s, mechanics’, materialmen’s, landlords’, repairmen’s or
other like Liens arising in the ordinary course of business which are not delinquent or remain payable without penalty; 

(e)    pledges or deposits required in the ordinary course of business in connection with workers’ compensation,
unemployment insurance and other social security legislation, other than any Lien imposed by ERISA; 
 (f)    Liens on
the property of any Borrower or any Material Subsidiary securing (i) the non-delinquent performance of bids, trade contracts (other than for borrowed money), leases, statutory obligations,
(ii) contingent obligations on surety and appeal bonds, and (iii) other non-delinquent obligations of a like nature; in each case, incurred in the ordinary course of business, provided all such Liens
in the aggregate would not (even if enforced) cause a Material Adverse Effect; 
 (g)    easements, rights-of-way, restrictions and other similar encumbrances which, in the aggregate, are not substantial in amount, and which do not in any case materially detract from the
value of the property subject thereto or materially interfere with the ordinary conduct of the business of the applicable Person; 

(h)    Liens arising solely by virtue of any statutory or common law provision relating to banker’s liens, rights of set-off or similar rights and remedies as to deposit accounts or other funds maintained with a creditor depository institution; provided that (i) such deposit account is not a dedicated cash collateral
account and is not subject to restrictions against access by the Company in excess of those set forth by regulations promulgated by the FRB, and (ii) such deposit account is not intended by any Borrower or any Material Subsidiary to provide
collateral to the depository institution; 
 (i)    Liens arising out of any Qualified Receivables Transaction; 

(j)    Liens existing on any property or asset prior to the acquisition thereof by any Borrower or any Material Subsidiary
or existing on a property or asset of a Person prior to such Person becoming a Subsidiary; provided that (x) such Liens were not granted in connection with, or in contemplation of, the acquisition of such property or such asset or such
Person becoming a Subsidiary, (y) such Liens secure only the obligations secured immediately prior to the acquisition of such property or asset or Person becoming a Subsidiary (and any modifications, extensions, renewals, replacements or
refinancings thereof that does not increase the amount of such original obligations) and (z) such Liens shall not apply to any other property or assets of any Borrower or the Subsidiaries, other than the proceeds of such acquired property or
assets and related books and records; 

  
 79 

 (k)    Liens existing on equipment, computers or software acquired by
any Borrower or any Material Subsidiary at the time of Borrower’s or Material Subsidiary’s, as applicable, acquisition thereof, provided that such Liens are confined solely to the property so acquired or the proceeds thereof and related
books and records; 
 (l)    Liens on deposit or securities accounts (and cash and cash equivalents and other financial
assets held therein) established in the ordinary course of business in favor of the financial institution at which such account is held, arising pursuant to such financial institution’s standard terms and conditions governing such account and
not securing Indebtedness; and 
 (m)    Liens securing Indebtedness and other obligations (other than Indebtedness and
other obligations secured by Liens described in any of the foregoing Section 7.01(a) through (l)) in an aggregate principal amount that, at the time of incurrence of such secured Indebtedness or obligations, together with
all other Indebtedness or obligations secured by Liens permitted in reliance on this clause (m) at such time, does not exceed the greater of (x) $2,000,000,000 or (y) 25% of Net Worth at such time. 

7.02    Consolidations and Mergers. No Borrower shall directly or indirectly, liquidate, dissolve, merge, amalgamate,
consolidate with or into, or convey, transfer, lease or otherwise dispose of (whether in one transaction or in a series of transactions) all or substantially all of its assets (whether now owned or hereafter acquired) to or in favor of any Person,
except: 
 (a)    any Borrower (other than the Company) may merge with the Company, provided that the Company shall be
the continuing or surviving corporation, or with any one or more Wholly-Owned Subsidiaries; provided that a Borrower shall be the continuing or surviving corporation and the jurisdiction of incorporation of such Borrower shall be a Designated
Borrower Jurisdiction; 
 (b)    any Borrower (other than the Company) may amalgamate with any one or more of the
Company’s Wholly-Owned Subsidiaries; provided that a Borrower shall be the continuing or surviving corporation and the jurisdiction of incorporation of such Borrower shall be a Designated Borrower Jurisdiction; 

(c)    any Borrower (other than the Company) may sell, transfer or exchange all or substantially all of its assets (upon
voluntary liquidation or otherwise) to the Company or another Borrower; 
 (d)    the Company may convey, transfer,
lease or otherwise dispose of all or substantially all of its pharmacology distribution business to a wholly-owned Domestic Subsidiary that, simultaneously therewith, executes and delivers to the Administrative Agent a joinder agreement in the form
of Exhibit F hereto and becomes a Borrower under this Agreement; provided that the parties hereto acknowledge and agree that prior to such Borrower becoming entitled to utilize the credit facilities provided for herein the
Administrative Agent and the Lenders shall have received such supporting resolutions, incumbency certificates, opinions of counsel and other documents or information, in form, content and scope reasonably satisfactory to the Administrative Agent, as
may reasonably be required by the Administrative Agent or the Required Lenders, and Notes signed by such new Borrower to the extent any Lenders so require. If the Administrative Agent and the Required Lenders agree that such Borrower shall be
entitled to receive Loans hereunder, then promptly following receipt of all such requested resolutions, incumbency certificates, opinions of counsel and other documents or information, the Administrative Agent shall send a notice in substantially
the form of Exhibit G (a “Borrower Notice”) to the Company and the Lenders specifying the effective date upon which such Borrower shall constitute a Borrower for purposes hereof, whereupon each of the
Lenders agrees to permit such Borrower to receive Loans hereunder, on the terms and conditions set forth herein, and each of the parties agrees that such Borrower otherwise shall be a Borrower for all purposes of this Agreement; provided that
no Committed Loan Notice or Letter of Credit Application may be submitted by or on behalf of such Borrower until the date five Business Days after such effective date; and 

  
 80 

 (e)    the Company may merge or consolidate with or into another Person,
provided that (i) either (x) the Company shall be the continuing or surviving corporation or (y) (A) the successor Person (if other than the Company) formed by such consolidation or into which the Company is merged (the
“Successor”) is a corporation, limited liability company or limited partnership organized or existing under the laws of the United States, any state of the United States or the District of Columbia, and (B) the Successor (if
any) shall have expressly assumed all of the Company’s Obligations pursuant to documentation in form satisfactory to the Administrative Agent, and (ii) no Default or Event of Default is in effect immediately prior to or on the date of or
would result from such merger or consolidation. 
 7.03    Use of Proceeds. No Borrower shall, or shall suffer or permit
any of its Subsidiaries to, use any Credit Extension, directly or indirectly, (a) to purchase or carry Margin Stock in contravention of Regulation U issued by the Board of Governors of the Federal Reserve, (b) to repay or otherwise
refinance indebtedness of the Company or others incurred to purchase or carry Margin Stock in contravention of said Regulation U, (c) to extend credit for the purpose of purchasing or carrying any Margin Stock in contravention of said
Regulation U, or (d) to acquire any security in any transaction that is subject to Section 13 or 14 of the Securities Exchange Act of 1934, in contravention of said Regulation U. 

7.04    Financial Covenant. The Company shall not permit the ratio of Total Debt to Total Capitalization (excluding from the
calculation of “Net Worth” thereunder, for purposes of this Section 7.04, accumulated other comprehensive income or loss set forth on such consolidated balance sheet) as of the last day of any calendar month to
exceed 0.65 to 1.00 
 7.05    Sanctions. No Borrower shall, nor shall it permit any Subsidiary to, directly or, to the
knowledge of such Borrower, indirectly, use the proceeds of any Credit Extension, or lend, contribute or otherwise make available such proceeds to any Subsidiary, joint venture partner or other individual or entity, to fund any activities of or
business of or with any individual or entity, or in any Designated Jurisdiction, that, at the time of such funding, is the subject of Sanctions, or in any other manner that will result in a violation by any individual or entity (including any
individual or entity participating in the transaction, whether as Lender, Arranger, Administrative Agent, L/C Issuer, or otherwise) of Sanctions. 

7.06    Anti-Corruption Laws. No Borrower shall, nor shall it permit any Subsidiary to, directly or, to the knowledge of
such Borrower, indirectly use the proceeds of any Credit Extension for any purpose which would breach the United States Foreign Corrupt Practices Act of 1977, the UK Bribery Act 2010, and other similar anti-corruption legislation in other
jurisdictions in which any Borrower or any of its Subsidiaries conduct business. 

  
 81 

 ARTICLE VIII     

EVENTS OF DEFAULT AND REMEDIES 

8.01    Events of Default. Any of the following shall constitute an Event of Default: 

(a)    Non-Payment. Any Borrower fails to pay (i) when and as required
to be paid herein, any amount of principal of any Loan, L/C Obligation, or (ii) within five days after the same becomes due, any interest on any Loan, L/C Obligation, or any facility fee or other fee due hereunder, or any other amount payable
hereunder or under any other Loan Document; or 
 (b)    Specific Covenants. The Company fails to perform or
observe any term, covenant or agreement contained in any of Section 6.03(a), Section 6.04(a) or ARTICLE VII; or 

(c)    Other Defaults. Any Borrower fails to perform or observe any other covenant or agreement (not specified in
Section 8.01(a) or 8.01(b)) contained in any Loan Document on its part to be performed or observed and such failure continues for 30 days after the date upon which written notice thereof is given to the Company by
the Administrative Agent or any Lender; or 
 (d)    Representations and Warranties. Any representation,
warranty, certification or statement of fact made or deemed made by or on behalf of any Borrower herein, in any other Loan Document, or in any document delivered in connection herewith or therewith shall be incorrect or misleading in any material
respect when made or deemed made; or 
 (e)    Cross-Default. (i) The Company or any Subsidiary
(A) fails to make any payment when due (whether by scheduled maturity, required prepayment, acceleration, demand, or otherwise) in respect of any Indebtedness or Guarantee (other than any intercompany Indebtedness or any Indebtedness hereunder)
having an aggregate principal amount (including undrawn committed or available amounts and including amounts owing to all creditors under any combined or syndicated credit arrangement) of more than $200,000,000 (such Indebtedness or Guarantee being
a “Relevant Obligation”) and such failure continues after the applicable grace or notice period, if any, specified in the relevant document on the date of such failure, or (B) fails to observe or perform any other agreement or
condition relating to, or contained in any instrument or agreement evidencing, securing or relating to, any Relevant Obligation, and such failure continues after the applicable grace or notice period, if any, specified in the relevant document on
the date of such failure, or any other event occurs, the effect of which default or other event is to cause such Relevant Obligation to be demanded or to become due or to be repurchased, prepaid, defeased or redeemed (automatically or otherwise), or
an offer to repurchase, prepay, defease or redeem such Relevant Obligation to be made, prior to its stated maturity, or such cash collateral in respect of such Relevant Obligation to be demanded (provided that an Acquired Debt Default shall not
constitute an Event of Default pursuant to this clause (i)(B) so long as such Acquired Debt Default is waived or cured, or the Relevant Obligation giving rise thereto is repaid, within 30 days of consummation of the transaction giving rise thereto)
or (ii) there occurs under any Swap Contract an Early Termination Date (as defined in such Swap Contract) resulting from (A) any event of default under such Swap Contract as to which the Company or any Subsidiary is the Defaulting Party
(as defined in such Swap Contract) or (B) any Termination Event (as so defined) under such Swap Contract as to which the Company or any Subsidiary is an Affected Party (as so defined) and, in either event, the Swap Termination Value owed by the
Company or such Subsidiary as a result thereof is greater than $200,000,000; or 

  
 82 

 (f)    Insolvency; Voluntary Proceedings. The Company or any
Material Subsidiary (i) ceases or fails to be solvent, or generally fails to pay, or admits in writing its inability to pay, its debts as they become due, subject to applicable grace periods, if any, whether at stated maturity or otherwise;
(ii) voluntarily ceases to conduct its business in the ordinary course; (iii) commences any Insolvency Proceeding with respect to itself; or (iv) takes any action to effectuate or authorize any of the foregoing; or 

(g)    Involuntary Proceedings. (i) Any involuntary Insolvency Proceeding is commenced or filed against the
Company or any Material Subsidiary, or any writ, judgment, warrant of attachment, execution or similar process, is issued or levied against a substantial part of the Company’s or any Material Subsidiary’s properties, and any such
proceeding or petition shall not be dismissed, or such writ, judgment, warrant of attachment, execution or similar process shall not be released, vacated or fully bonded within sixty (60) days after commencement, filing or levy; (ii) the
Company or any Material Subsidiary admits the material allegations of a petition against it in any Insolvency Proceeding, or an order for relief (or similar order under non-U.S. law) is ordered in any
Insolvency Proceeding; or (iii) the Company or any Material Subsidiary acquiesces in the appointment of a receiver, trustee, custodian, conservator, liquidator, mortgagee in possession (or agent therefor), or other similar Person for itself or
a substantial portion of its property or business; or 
 (h)    ERISA. (i) An ERISA Event occurs with
respect to a Pension Plan or Multiemployer Plan which has resulted or could reasonably be expected to result in liability of the Company or any of its Subsidiaries in an aggregate amount in excess of $100,000,000 during the term of this Agreement,
or (ii) there shall exist an amount of unfunded benefit liabilities (as defined in Section 4001(a)(18) of ERISA), individually or in the aggregate for all Pension Plans (excluding for purposes of such computation any Pension Plans with
respect to which assets exceed benefit liabilities), which exceeds 7% of Net Worth; or  

(i)    Invalidity of Loan Documents. Any Loan Document, at any time after its execution and delivery and for any
reason other than as expressly permitted hereunder or thereunder or satisfaction in full of all the Obligations, ceases to be in full force and effect; or any Loan Party contests in any manner the validity or enforceability of any provision of any
Loan Document; or any Loan Party denies that it has any or further liability or obligation under any Loan Document, or purports to revoke, terminate or rescind any provision of any Loan Document; or 

(j)    Change of Control. There occurs any Change of Control. 

  
 83 

 8.02    Remedies Upon Event of Default. If any Event of Default occurs and
is continuing, the Administrative Agent shall, at the request of, or may, with the consent of, the Required Lenders, take any or all of the following actions: 

(a)    declare the commitment of each Lender to make Loans and any obligation of each L/C Issuer to make L/C Credit
Extensions to be terminated, whereupon such commitments and obligation shall be terminated; 
 (b)    declare the unpaid
principal amount of all outstanding Loans, all interest accrued and unpaid thereon, and all other amounts owing or payable hereunder or under any other Loan Document to be immediately due and payable, without presentment, demand, protest or other
notice of any kind, all of which are hereby expressly waived by each Borrower; 
 (c)    require that the Company Cash
Collateralize the L/C Obligations (in an amount equal to the then Outstanding Amount thereof); and 
 (d)    exercise on
behalf of itself and the Lenders all rights and remedies available to it and the Lenders under the Loan Documents or applicable law; 

provided, however, that upon the occurrence of an actual or deemed entry of an order for relief with respect to any Borrower
under the Bankruptcy Code of the United States, except in the case of Section 8.01(g)(i), in which case upon the expiration of the 60-day period mentioned therein if the curative
action mentioned in such clause is not taken, the obligation of each Lender to make Loans and any obligation of each L/C Issuer to make L/C Credit Extensions shall automatically terminate, the unpaid principal amount of all outstanding Loans and all
interest and other amounts as aforesaid shall automatically become due and payable, and the obligation of the Company to Cash Collateralize the L/C Obligations as aforesaid shall automatically become effective, in each case without further act of
the Administrative Agent or any Lender. 
 8.03    Application of Funds. After the exercise of remedies provided for in
Section 8.02 (or after the Loans and other Obligations have automatically become immediately due and payable and the L/C Obligations have automatically been required to be Cash Collateralized as set forth in the proviso to
Section 8.02), any amounts received on account of the Obligations shall be applied by the Administrative Agent in the following order: 

First, to payment of that portion of the Obligations constituting fees, indemnities, expenses and other amounts (including Attorney
Costs and amounts payable under ARTICLE III) payable to the Administrative Agent and the L/C Issuers in their respective capacities as such; 

Second, to payment of that portion of the Obligations constituting fees, indemnities and other amounts (other than principal and
interest) payable to the Lenders (including Attorney Costs and amounts payable under ARTICLE III), ratably among them in proportion to the amounts described in this clause Second payable to them; 

Third, to payment of that portion of the Obligations constituting accrued and unpaid interest on the Loans and L/C Borrowings, ratably
among the Lenders in proportion to the respective amounts described in this clause Third payable to them; 

  
 84 

 Fourth, to payment of that portion of the Obligations constituting unpaid principal
of the Loans and L/C Borrowings, in each case ratably among the Lenders in proportion to the respective amounts described in this clause Fourth held by them; 

Fifth, to the Administrative Agent for the account of the applicable L/C Issuers to Cash Collateralize that portion of L/C Obligations
comprised of the aggregate undrawn amount of Letters of Credit; and 
 Last, the balance, if any, after all of the Obligations have
been indefeasibly paid in full, to the Company or as otherwise required by Law. 
 Subject to Section 2.03(c),
amounts used to Cash Collateralize the aggregate undrawn amount of Letters of Credit pursuant to clause Fifth above shall be applied to satisfy drawings under such Letters of Credit as they occur. If any amount remains on deposit as Cash
Collateral after all Letters of Credit have either been fully drawn or expired, such remaining amount shall be applied to the other Obligations, if any, in the order set forth above. 

ARTICLE IX     

ADMINISTRATIVE AGENT 

9.01    Appointment and Authorization of Agents. 

(a)    Each of the Lenders and L/C Issuers hereby irrevocably appoints Bank of America to act on its behalf as the
Administrative Agent hereunder and under the other Loan Documents and authorizes the Agent to take such actions on its behalf under the provisions of this Agreement and each other Loan Document and to exercise such powers as are delegated to the
Agent by the terms hereof or thereof, together with such actions and powers as are reasonably incidental thereto. The provisions of this ARTICLE IX are solely for the benefit of the Administrative Agent, the Lenders and the L/C Issuers, and
the Borrowers shall not have rights as a third party beneficiary of any of such provisions other than the provisions of Section 9.06 relating to the Company’s consultation and notice rights. 

(b)    Notwithstanding any provision to the contrary contained elsewhere herein or in any other Loan Document, the Agent
shall not have any duties or responsibilities, except those expressly set forth herein, nor shall the Agent have or be deemed to have any fiduciary relationship with any Lender or participant, and no implied covenants, functions, responsibilities,
duties, obligations or liabilities shall be read into this Agreement or any other Loan Document or otherwise exist against the Agent. Without limiting the generality of the foregoing sentence, the use of the term “agent” herein and in the
other Loan Documents with reference to the Administrative Agent is not intended to connote any fiduciary or other implied (or express) obligations arising under agency doctrine of any applicable Law. Instead, such term is used merely as a matter of
market custom, and is intended to create or reflect only an administrative relationship between independent contracting parties. 

(c)    Each L/C Issuer shall act on behalf of the Lenders with respect to any Letters of Credit issued by it and the
documents associated therewith, and each L/C Issuer shall have all of the benefits and immunities (A) provided to the Administrative Agent in this ARTICLE IX with respect to any acts taken or omissions suffered by such L/C Issuer in
connection with Letters of Credit issued by it or proposed to be issued by it and the Issuer Documents pertaining to such Letters of Credit as fully as if the term “Administrative Agent” as used in this ARTICLE IX included such L/C
Issuer with respect to such acts or omissions, and (B) as additionally provided herein with respect to each L/C Issuer. 

  
 85 

 9.02    Rights as a Lender. The Person serving as the Administrative Agent
hereunder shall have the same rights and powers in its capacity as a Lender as any other Lender and may exercise the same as though it were not the Agent and the term “Lender” or “Lenders” shall, unless otherwise expressly
indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity. Such Person and its Affiliates may accept deposits from, lend money to, own securities of, act as the
financial advisor or in any other advisory capacity for and generally engage in any kind of business with the Borrowers or any Subsidiary or other Affiliate thereof as if such Person was not the Agent hereunder and without any duty to account
therefor to the Lenders. 
 9.03    Exculpatory Provisions. The Agent shall not have any duties or obligations except
those expressly set forth herein and in the other Loan Documents, and its duties hereunder shall be administrative in nature. Without limiting the generality of the foregoing, the Agent: 

(a)    shall not be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is
continuing; 
 (b)    shall not have any duty to take any discretionary action or exercise any discretionary powers,
except discretionary rights and powers expressly contemplated hereby or by the other Loan Documents that the Agent is required to exercise as directed in writing by the Required Lenders (or such other number or percentage of the Lenders as shall be
expressly provided for herein or in the other Loan Documents), provided that the Agent shall not be required to take any action that, in its opinion or the opinion of its counsel, may expose the Agent to liability or that is contrary to any
Loan Document or applicable law, including for the avoidance of doubt any action that may be in violation of the automatic stay under any Debtor Relief Law or that may effect a forfeiture, modification or termination of property of a Defaulting
Lender in violation of any Debtor Relief Law; and 
 (c)    shall not, except as expressly set forth herein and in the
other Loan Documents, have any duty to disclose, and shall not be liable for the failure to disclose, any information relating to the Borrowers or any of their Affiliates that is communicated to or obtained by the Person serving as the Agent or any
of its Affiliates in any capacity. 
 (d)    The Agent shall not be liable for any action taken or not taken by it
(i) with the consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary, or as the Agent shall believe in good faith shall be necessary, under the circumstances as provided in
Sections 11.01 and 8.02) or (ii) in the absence of its own gross negligence or willful misconduct as determined by a court of competent jurisdiction by final and nonappealable judgment. The Agent shall be deemed not to have
knowledge of any Default unless and until notice describing such Default is given in writing to the Agent by a Borrower, a Lender or an L/C Issuer. 

  
 86 

 (e)    The Agent shall not be responsible for or have any duty to
ascertain or inquire into (i) any statement, warranty or representation made in or in connection with this Agreement or any other Loan Document, (ii) the contents of any certificate, report or other document delivered hereunder or
thereunder or in connection herewith or therewith, (iii) the performance or observance of any of the covenants, agreements or other terms or conditions set forth herein or therein or the occurrence of any Default, (iv) the validity,
enforceability, effectiveness or genuineness of this Agreement, any other Loan Document or any other agreement, instrument or document or (v) the satisfaction of any condition set forth in ARTICLE IV or elsewhere herein, other than to
confirm receipt of items expressly required to be delivered to the Agent. 
 9.04    Delegation of Duties. The Agent may
perform any and all of its duties and exercise its rights and powers hereunder or any other Loan Document by or through any one or more sub-agents appointed by the Agent. The Agent and any such sub-agent may perform any and all of its duties and exercise its rights and powers by or through their respective Related Parties. The exculpatory provisions of this Article shall apply to any such sub-agent and to the Related Parties of the Agent and any such sub-agent, and shall apply to their respective activities in connection with the syndication of the credit
facilities provided for herein as well as activities as Administrative Agent. 
 9.05    Reliance by Agent. The Agent
shall be entitled to rely upon, and shall not incur any liability for relying upon, any notice (including without limitation, telephonic or electronic notice, Committed Loan Notices, Letter of Credit Applications and notices of prepayment), request,
certificate, consent, statement, instrument, document or other writing (including any electronic message, internet or intranet website posting or other distribution) believed by it to be genuine and to have been signed, sent or otherwise
authenticated by the proper Person or Persons. The Agent also may rely upon any statement made to it orally or by telephone and believed by it to have been made by the proper Person, and shall not incur any liability for relying thereon. In
determining compliance with any condition hereunder to the making of a Loan, or the issuance of a Letter of Credit, that by its terms must be fulfilled to the satisfaction of a Lender or an L/C Issuer, the Agent may presume that such condition is
satisfactory to such Lender or L/C Issuer unless the Agent shall have received notice to the contrary from such Lender or L/C Issuer prior to the making of such Loan or the issuance of such Letter of Credit. The Agent may consult with legal counsel
(who may be counsel for the Company), independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts. 

  
 87 

 9.06    Successor Agents. 

(a)    The Agent may at any time give notice of its resignation to the Lenders, the L/C Issuers and the Company. Upon
receipt of any such notice of resignation, the Required Lenders shall have the right, in consultation with the Company, to appoint a successor, which shall be a bank with an office in the United States, or an Affiliate of any such bank with an
office in the United States. If no such successor shall have been so appointed by the Required Lenders and shall have accepted such appointment within 30 days after the retiring Agent gives notice of its resignation (or such earlier day as shall be
agreed by the Required Lenders) (the “Resignation Effective Date”), then the retiring Agent may on behalf of the Lenders and the L/C Issuers (if applicable) appoint a successor Agent meeting the qualifications set forth above;
provided that if the Agent shall notify the Company and the Lenders that no qualifying Person has accepted such appointment, then such resignation shall nonetheless become effective as of the Resignation Effective Date in accordance with such
notice and (a) the retiring Agent shall be discharged from its duties and obligations hereunder and under the other Loan Documents and (b) except for any indemnity payments or other amounts then owed to the retiring Administrative Agent
all payments, communications and determinations provided to be made by, to or through the Agent shall instead be made by or to each Lender and L/C Issuer directly, until such time as the Required Lenders appoint a successor Agent as provided for
above in this Section. Upon the acceptance of a successor’s appointment as Administrative Agent hereunder, such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring (or retired)
Administrative Agent (other than any rights to indemnity payments or other amounts owed to the retiring (or retired) Administrative Agent as of the Resignation Effective Date), and the retiring Agent shall be discharged from all of its duties and
obligations hereunder or under the other Loan Documents (if not already discharged therefrom as provided above in this Section). The fees payable by the Company to a successor Agent shall be the same as those payable to its predecessor unless
otherwise agreed between the Company and such successor. After the retiring Administrative Agent’s resignation hereunder and under the other Loan Documents, the provisions of this Article and Section 11.04 shall
continue in effect for the benefit of such retiring Agent, its sub-agents and their respective Related Parties in respect of any actions taken or omitted to be taken by any of them (i) while the retiring
Administrative Agent was acting as Administrative Agent and (ii) after such resignation for as long as any of them continues to act in any capacity hereunder or under the other Loan Documents, including (a) acting as collateral agent or
otherwise holding any collateral security on behalf of any of the Lenders and (b) in respect of any actions taken in connection with transferring the agency to any successor Administrative Agent. 

(b)    Any resignation by Bank of America as Administrative Agent pursuant to this Section shall also constitute its
resignation as an L/C Issuer. If Bank of America resigns as an L/C Issuer, it shall retain all the rights, powers, privileges and duties of an L/C Issuer hereunder with respect to all Letters of Credit outstanding as of the effective date of
its resignation as an L/C Issuer and all L/C Obligations with respect thereto, including the right to require the Lenders to make Base Rate Loans or fund risk participations in Unreimbursed Amounts pursuant to Section 2.03(c). Upon the
appointment by the Company of a successor L/C Issuer hereunder (which successor shall in all cases be a Lender other than a Defaulting Lender), (a) such successor shall succeed to and become vested with all of the rights, powers, privileges and
duties of the resigning L/C Issuer, (b) the resigning L/C Issuer shall be discharged from all of its duties and obligations hereunder or under the other Loan Documents and (c) the successor L/C Issuer shall issue letters of credit in
substitution for the Letters of Credit, if any, outstanding at the time of such succession or make other arrangements satisfactory to Bank of America to effectively assume the obligations of Bank of America with respect to such Letters of Credit.

  
 88 

 9.07    Non-Reliance on Agent and
Other Lenders. Each Lender and L/C Issuer acknowledges that it has, independently and without reliance upon the Administrative Agent or any other Lender or any of their Related Parties and based on such documents and information as it has deemed
appropriate, made its own credit analysis and decision to enter into this Agreement. Each Lender and L/C Issuer also acknowledges that it will, independently and without reliance upon the Agent or any other Lender or any of their Related Parties and
based on such documents and information as it shall from time to time deem appropriate, continue to make its own decisions in taking or not taking action under or based upon this Agreement, any other Loan Document or any related agreement or any
document furnished hereunder or thereunder. 
 9.08    No Other Duties, Etc. Anything herein to the contrary
notwithstanding, none of the documentation agents, syndication agents, book managers or arrangers listed on the cover page hereof shall have any powers, duties or responsibilities under this Agreement or any of the other Loan Documents, except in
its capacity, as applicable, as the Administrative Agent or a Lender hereunder. Without limiting the foregoing, none of the Lenders or other Persons so listed shall have or be deemed to have any fiduciary relationship with any Lender. Each Lender
acknowledges that it has not relied, and will not rely, on any of the Lenders or other Persons so listed in deciding to enter into this Agreement or in taking or not taking action hereunder. 

9.09    Administrative Agent May File Proofs of Claim. In case of the pendency of any proceeding under any Debtor Relief Law
or any other judicial proceeding relative to any Loan Party, the Administrative Agent (irrespective of whether the principal of any Loan, or L/C Obligation shall then be due and payable as herein expressed or by declaration or otherwise and
irrespective of whether the Administrative Agent shall have made any demand on any Borrower) shall be entitled and empowered, by intervention in such proceeding or otherwise: 

(a)    to file and prove a claim for the whole amount of the principal and interest owing and unpaid in respect of the
Loans, L/C Obligations and all other Obligations that are owing and unpaid and to file such other documents as may be necessary or advisable in order to have the claims of the Lenders and the Administrative Agent (including any claim for the
reasonable compensation, expenses, disbursements and advances of the Lenders and the Administrative Agent and their respective agents and counsel and all other amounts due the Lenders and the Administrative Agent under
Sections 2.03(i) and 2.03(j), 2.09 and 11.04) allowed in such judicial proceeding; and 

(b)    to collect and receive any monies or other property payable or deliverable on any such claims and to distribute the
same; and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Lender to make such payments to the Administrative Agent and, in the event that the
Administrative Agent shall consent to the making of such payments directly to the Lenders, to pay to the Administrative Agent any amount due for the reasonable compensation, expenses, disbursements and advances of the Administrative Agent and its
agents and counsel, and any other amounts due the Administrative Agent under Sections 2.09 and 11.04. 
 Nothing
contained herein shall be deemed to authorize the Administrative Agent to authorize or consent to or accept or adopt on behalf of any Lender any plan of reorganization, arrangement, adjustment or composition affecting the Obligations or the rights
of any Lender or to authorize the Administrative Agent to vote in respect of the claim of any Lender in any such proceeding. 

  
 89 

 9.10    Certain ERISA Matters. 

(a)    Each Lender (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and
(y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the Administrative Agent and not, for the avoidance of doubt, to or for the benefit of the
Company or any other Loan Party, that at least one of the following is and will be true: 
 (i)    such Lender is not
using “plan assets” (within the meaning of Section 3(42) of ERISA or otherwise) of one or more Benefit Plans with respect to such Lender’s entrance into, participation in, administration of and performance of the Loans, the
Letters of Credit, the Commitments or this Agreement, 
 (ii)    the transaction exemption set forth in one or more
PTEs, such as PTE 84-14 (a class exemption for certain transactions determined by independent qualified professional asset managers), PTE 95-60 (a class exemption for
certain transactions involving insurance company general accounts), PTE 90-1 (a class exemption for certain transactions involving insurance company pooled separate accounts), PTE 91-38 (a class exemption for certain transactions involving bank collective investment funds) or PTE 96-23 (a class exemption for certain transactions determined by in-house asset managers), is applicable with respect to such Lender’s entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement,

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

(iv)    such other representation, warranty and covenant as may be agreed in writing between the Administrative Agent, in
its sole discretion, and such Lender. 
 (b)    In addition, unless either
(1) sub-clause (i) in the immediately preceding clause (a) is true with respect to a Lender or (2) a Lender has provided another representation, warranty and covenant in accordance with sub-clause (iv) in the immediately preceding clause (a), such Lender further (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from the date
such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the Administrative Agent and not, for the avoidance of doubt, to or for the benefit of the Borrower or any other Loan Party,
that the Administrative Agent is not a fiduciary with respect to the assets of such Lender involved in such Lender’s entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and
this Agreement (including in connection with the reservation or exercise of any rights by the Administrative Agent under this Agreement, any Loan Document or any documents related hereto or thereto). 

  
 90 

 ARTICLE X     

[RESERVED] 
 ARTICLE
XI     
 MISCELLANEOUS 

11.01    Amendments, Etc. No amendment or waiver of any provision of this Agreement or any other Loan Document, and no
consent to any departure by the Company or any other Loan Party therefrom, shall be effective unless in writing signed by the Required Lenders and the Company or the applicable Loan Party, as the case may be, and acknowledged by the Administrative
Agent, and each such waiver or consent shall be effective only in the specific instance and for the specific purpose for which given; provided, however, that no such amendment, waiver or consent shall: 

(a)    waive any condition set forth in Section 4.01(a) (other than any condition pursuant to
Section 4.01(a)(vii)) without the written consent of each Lender; 
 (b)    extend or increase
the Commitment of any Lender (or reinstate any Commitment terminated pursuant to Section 8.02) except as permitted by Section 2.15, in each case without the written consent of such Lender; 

(c)    postpone any date fixed by this Agreement or any other Loan Document for any payment of principal, interest, fees
or other amounts due to the Lenders (or any of them) hereunder or under any other Loan Document without the written consent of each Lender directly affected thereby; 

(d)    reduce the principal of, or the rate of interest specified herein on, any Loan or L/C Borrowing, or (subject to
clause (v) of the second proviso to this Section 11.01) any fees or other amounts payable hereunder or under any other Loan Document without the written consent of each Lender directly affected thereby;
provided, however, that only the consent of the Required Lenders shall be necessary to amend the definition of “Default Rate” or to waive any obligation of the Borrowers to pay interest at the Default Rate; 

(e)    change Sections 2.13 or 8.03 in a manner that would alter the pro rata sharing of payments required
thereby or amend the definition of “Pro Rata Share”, without the written consent of each Lender; 

(f)    change any provision of this Section 11.01 or the definition of “Required
Lenders” or any other provision hereof specifying the number or percentage of Lenders required to amend, waive or otherwise modify any rights hereunder or make any determination or grant any consent hereunder, without the written consent of
each Lender; 
 (g)    release (x) the Company from any Guaranty or (y) substantially all of the value of the
Guarantees without the written consent of each Lender; or 
 (h)    change the definition of Alternative Currency or
Designated Borrower Jurisdiction without the consent of each Lender. 

  
 91 

 and, provided, further, that (i) no amendment, waiver or consent shall,
unless in writing and signed by the L/C Issuers in addition to the Lenders required above, affect the rights or duties of the L/C Issuers under this Agreement or any Issuer Document relating to any Letter of Credit issued or to be issued by it;
(ii) no amendment, waiver or consent shall, unless in writing and signed by the Administrative Agent in addition to the Lenders required above, affect the rights or duties of the Administrative Agent under this Agreement or any other Loan
Document; (iii) Section 11.06(h) may not be amended, waived or otherwise modified without the consent of each Granting Lender all or any part of whose Loans are being funded by an SPC at the time of such amendment, waiver or other
modification; and (iv) the Fee Letter may be amended, or rights or privileges thereunder waived, only in a writing executed by the parties thereto. Notwithstanding anything to the contrary herein, no Defaulting Lender shall have any right to
approve or disapprove any amendment, waiver or consent hereunder, except that the Commitment of such Lender may not be increased or extended without the consent of such Lender. This Agreement and other Loan Documents may be amended or supplemented
by an agreement or agreements in writing entered into by the Administrative Agent and each Borrower as to which such agreement or agreements is to apply, without the need to obtain the consent of any Lender, to implement any modification necessary
to effect the provisions of Section 2.15 and Section 2.16 or to comply with local Law or advice of counsel in connection therewith, in each case so long as such modification does not adversely
affect the rights of any Lender or L/C Issuer; provided that the Administrative Agent shall post such amendment to the Lenders (which may be posted to the approved Platform) reasonably promptly after the effectiveness thereof. 

11.02    Notices and Other Communications; Facsimile Copies. 

(a)    General. Except in the case of notices and other communications expressly permitted to be given by telephone
(and except as provided in subsection (b) below), all notices and other communications provided for hereunder shall be in writing and shall be delivered by hand or overnight courier service, mailed by certified or
registered mail or sent by telecopier as follows, and all notices and other communications expressly permitted hereunder to be given by telephone shall be made to the applicable telephone number, as follows: 

(i)    if to any Borrower, the Administrative Agent or any of the L/C Issuers, to the address, facsimile number,
electronic mail address or telephone number specified for such Person on Schedule 11.02; and 
 (ii)    if to any
other Lender, to the address, facsimile number, electronic mail address or telephone number specified in its Administrative Questionnaire. 

Notices sent by hand or overnight courier service, or mailed by certified or registered mail, shall be deemed to have been given when
received; notices sent by telecopier shall be deemed to have been given when sent (except that, if not given during normal business hours for the recipient, shall be deemed to have been given at the opening of business on the next business day for
the recipient). Notices delivered through electronic communications to the extent provided in subsection (b) below, shall be effective as provided in such subsection (b). 

  
 92 

 (b)    Electronic Communications. All notices hereunder to any
Borrower shall be in writing and shall be delivered by hand or overnight courier service, mailed by certified or registered mail or sent by telecopier (or, to the extent permitted hereunder to be given by telephone, immediately confirmed in a
writing so delivered, mailed or sent). Notices and other communications to the Lenders and the L/C Issuers hereunder may be delivered or furnished by electronic communication (including e-mail and Internet or
intranet websites) pursuant to procedures approved by the Administrative Agent, provided that the foregoing shall not apply to notices to any Lender or L/C Issuer pursuant to ARTICLE II if such Lender or L/C Issuer, as applicable, has
notified the Administrative Agent that it is incapable of receiving notices under such Article by electronic communication. The Administrative Agent or the Company may, in its discretion, agree to accept notices and other communications to it
hereunder by electronic communications pursuant to procedures approved by it, provided that approval of such procedures may be limited to particular notices or communications. 

Unless the Administrative Agent otherwise prescribes, (i) notices and other communications sent to an
e-mail address shall be deemed received upon the sender’s receipt of an acknowledgement from the intended recipient (such as by the “return receipt requested” function, as available, return e-mail or other written acknowledgement), provided that if such notice or other communication is not sent during the normal business hours of the recipient, such notice or communication shall be deemed to
have been sent at the opening of business on the next business day for the recipient, and (ii) notices or communications posted to an Internet or intranet website shall be deemed received upon the deemed receipt by the intended recipient at its
e-mail address as described in the foregoing clause (i) of notification that such notice or communication is available and identifying the website address therefor. 

(c)    The Platform. THE PLATFORM IS PROVIDED “AS IS” AND “AS AVAILABLE.” THE AGENT PARTIES (AS
DEFINED BELOW) DO NOT WARRANT THE ACCURACY OR COMPLETENESS OF THE BORROWER MATERIALS OR THE ADEQUACY OF THE PLATFORM, AND EXPRESSLY DISCLAIM LIABILITY FOR ERRORS IN OR OMISSIONS FROM THE BORROWER MATERIALS. NO WARRANTY OF ANY KIND, EXPRESS, IMPLIED
OR STATUTORY, INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF THIRD PARTY RIGHTS OR FREEDOM FROM VIRUSES OR OTHER CODE DEFECTS, IS MADE BY ANY AGENT PARTY IN
CONNECTION WITH THE BORROWER MATERIALS OR THE PLATFORM. In no event shall the Administrative Agent or any of its Related Parties (collectively, the “Agent Parties”) have any liability to any Borrower, any Lender or any other Person
for losses, claims, damages, liabilities or expenses of any kind (whether in tort, contract or otherwise) arising out of any Borrower’s or the Administrative Agent’s transmission of Borrower Materials or notices through the Platform, any
other electronic platform or electronic messaging service through the internet, except to the extent that such losses, claims, damages, liabilities or expenses are determined by a court of competent jurisdiction by a final and nonappealable judgment
to have resulted from the gross negligence or willful misconduct of such Agent Party; provided, however, that in no event shall any Agent Party have any liability to any Borrower, any Lender or any other Person for indirect, special,
incidental, consequential or punitive damages (as opposed to direct or actual damages). 

  
 93 

 (d)    Change of Address, Etc. Each Borrower, the Administrative
Agent and each L/C Issuer may change its address, facsimile number, electronic mail address or telephone number for notices and other communications hereunder by notice to the other parties hereto. Each other Lender may change its address, facsimile
number, electronic mail address or telephone number for notices and other communications hereunder by notice to the Company, the Administrative Agent and the L/C Issuers. Furthermore, each Public Lender (as defined in
Section 6.02) agrees to cause at least one individual at or on behalf of such Public Lender to at all times have selected the “Private Side Information” or similar designation on the content declaration screen of
the Platform (as defined in Section 6.02) in order to enable such Public Lender or its delegate, in accordance with such Public Lender’s compliance procedures and applicable Law, including United States Federal and
state securities Laws, to make reference to Borrower Materials (as defined in Section 1.01) that are not made available through the “Public Side Information” portion of the Platform and that may contain material non-public information with respect to the Borrowers or their respective securities for purposes of United States Federal or state securities laws. 

(e)    Reliance by Agent and Lenders. The Agent, L/C Issuers and Lenders shall be entitled to rely and act upon any
notices (including telephonic Committed Loan Notices) purportedly given by or on behalf of any Borrower, which the Agent, L/C Issuer or Lender believes in good faith to have been given by a duly authorized officer or other person authorized to
borrow on behalf of any Borrower, even if (i) such notices were not made in a manner specified herein, were incomplete or were not preceded or followed by any other form of notice specified herein, or (ii) the terms thereof, as understood
by the recipient, varied from any confirmation thereof. Each Borrower shall indemnify the Agent, each L/C Issuer, each Lender and the Related Parties of each of them from all losses, costs, expenses and liabilities resulting from the reliance by
such Person on each notice purportedly given by or on behalf of such Borrower. All telephonic notices to and other communications with the Agent may be recorded by the Agent, and each of the parties hereto hereby consents to such recording. 

11.03    No Waiver; Cumulative Remedies; Enforcement. No failure by any Lender or the Agent to exercise, and no delay by any
such Person in exercising, any right, remedy, power or privilege hereunder shall operate as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof
or the exercise of any other right, remedy, power or privilege. The rights, remedies, powers and privileges herein provided are cumulative and not exclusive of any rights, remedies, powers and privileges provided by law. 

Notwithstanding anything to the contrary contained herein or in any other Loan Document, the authority to enforce rights and remedies
hereunder and under the other Loan Documents against the Loan Parties or any of them shall be vested exclusively in, and all actions and proceedings at law in connection with such enforcement shall be instituted and maintained exclusively by, the
Administrative Agent in accordance with Section 8.02 for the benefit of all the Lenders and the L/C Issuers; provided, however, that the foregoing shall not prohibit (a) the Administrative Agent from
exercising on its own behalf the rights and remedies that inure to its benefit (solely in its capacity as Administrative Agent) hereunder and under the other Loan Documents, (b) any L/C Issuer from exercising the rights and remedies that inure
to its benefit (solely in its capacity as L/C Issuer) hereunder and under the other Loan Documents, (c) any Lender from exercising setoff rights in accordance with Section 11.08, or (d) any Lender from filing
proofs of claim or appearing and filing pleadings on its own behalf during the pendency of a proceeding relative to any Loan Party under any Debtor Relief Law; and provided, further, that if at any time there is no Person acting as
Administrative Agent hereunder and under the other Loan Documents, then (i) the Required Lenders shall have the rights otherwise ascribed to the Administrative Agent pursuant to Section 8.02 and (ii) in addition
to the matters set forth in clauses (b), (c) and (d) of the preceding proviso, any Lender may, with the consent of the Required Lenders, enforce any rights and remedies available to it and as authorized by the Required Lenders. 

  
 94 

 11.04    Expenses; Indemnity; Damage Waiver. 

(a)    Costs and Expenses. The Borrowers agree, jointly and severally, (i) to pay or reimburse the Agent for
all costs and expenses incurred in connection with the syndication of the credit facilities provided for herein, the development, preparation, negotiation and execution of this Agreement and the other Loan Documents and any amendment, waiver,
consent or other modification of the provisions hereof and thereof (whether or not the transactions contemplated hereby or thereby are consummated), and the consummation and administration of the transactions contemplated hereby and thereby,
including all Attorney Costs, (ii) to pay each L/C Issuer all fees, costs and charges required under Sections 2.03(j) and 2.04, respectively, and (iii) to pay or reimburse the Agent and each L/C Issuer and each Lender
for all costs and expenses incurred in connection with the enforcement, attempted enforcement, or preservation of any rights or remedies under this Agreement or the other Loan Documents (including all such costs and expenses incurred during any
“workout” or restructuring in respect of the Obligations and during any legal proceeding, including any proceeding under any Debtor Relief Law), including all Attorney Costs. The foregoing costs and expenses shall include all search,
filing, recording, title insurance and appraisal charges and fees and taxes related thereto, and other out-of-pocket expenses incurred by the Agent and the cost of
independent public accountants and other outside experts retained by the Agent or any Lender. All amounts due under this Section 11.04 shall be payable within 20 Business Days after demand therefor. 

(b)    Indemnification by the Borrowers. Whether or not the transactions contemplated hereby are consummated, the
Borrowers shall jointly and severally indemnify and hold harmless the Agent (and any sub-agent thereof), each L/C Issuer, the Arrangers, each Lender and each Related Party of any of the foregoing Persons (each
such Person being called an “Indemnitee”) from and against any and all liabilities, obligations, losses, damages, penalties, claims, demands, actions, judgments, suits, costs, expenses and disbursements (including Attorney Costs) of
any kind or nature whatsoever which may at any time be imposed on, incurred by or asserted against any such Indemnitee in any way relating to or arising out of or in connection with (i) the execution, delivery, enforcement, performance or
administration of any Loan Document or any other agreement, letter or instrument delivered in connection with the transactions contemplated thereby or the consummation of the transactions contemplated thereby, (ii) any Commitment, Loan or
Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by an L/C Issuer to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply
with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned, leased or operated by any Borrower or any of its Subsidiaries, or any Environmental Liability
related in any way to any Borrower or any of its Subsidiaries or (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory (including any
investigation of, preparation for, or defense of any pending or threatened claim, investigation, litigation or proceeding) and regardless of whether any Indemnitee is a party thereto (all the foregoing, collectively, the “Indemnified
Liabilities”); provided that such indemnity shall not, as to any Indemnitee, be available to the extent that such liabilities, obligations, losses, damages, penalties, claims, demands, actions, judgments, suits, costs, expenses or
disbursements (A) are determined by a court of competent jurisdiction by final and nonappealable judgment to have resulted from (i) the gross negligence or willful misconduct of such Indemnitee or (ii) a material breach of the
obligations of such Indemnitee under this Agreement, or (B) result from a claim not involving an act or omission of any Borrower or any of its Subsidiaries and that is brought by an Indemnitee against another Indemnitee (other than against the
Arrangers, L/C Issuers or the Agent in their capacities as such). 

  
 95 

 (c)    Reimbursement by Lenders. To the extent that the Borrowers
for any reason fail to indefeasibly pay any amount required under subsection (a) or (b) of this Section to be paid by it to the Agent (or any sub-agent thereof), any L/C Issuer,
the Arrangers or any Related Party of any of the foregoing (it being acknowledged that, for the avoidance of doubt, such required amounts do not include any fees arising solely from the Fee Letter), each Lender severally agrees to pay to the Agent
(or any such sub-agent), any L/C Issuer, the Arrangers or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or
indemnity payment is sought) of such unpaid amount, provided that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Agent (or any such sub-agent) or any L/C Issuer in its capacity as such, or against any Related Party of any of the foregoing acting for the Agent (or any such sub-agent) or any L/C Issuer in
connection with such capacity. The obligations of the Lenders under this subsection (b) are subject to the provisions of Section 2.12(d). 

(d)    Waiver of Consequential Damages, Etc. To the fullest extent permitted by applicable law, no Borrower shall
assert, and each Borrower hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a
result of, this Agreement, any other Loan Document or any agreement or instrument contemplated hereby, the transactions contemplated hereby or thereby, any Loan or Letter of Credit or the use of the proceeds thereof. No Indemnitee referred to in
subsection (b) above shall be liable for any damages arising from the use by unintended recipients of any information or other materials distributed by it through telecommunications, electronic or other information
transmission systems in connection with this Agreement or the other Loan Documents or the transactions contemplated hereby or thereby. 

(e)    Payments. All amounts due under this Section shall be payable not later than 20 Business Days after demand
therefor. 

  
 96 

 (f)    The agreements in this Section 11.04
shall survive the resignation of the Administrative Agent, the L/C Issuers or the Arrangers, the replacement of any Lender, the termination of the Aggregate Commitments and the repayment, satisfaction or discharge of all the other Obligations. 

11.05    Payments Set Aside. To the extent that any payment by or on behalf of a Borrower is made to the Agent or any
Lender, or the Agent or any Lender exercises its right of set-off, and such payment or the proceeds of such set-off or any part thereof is subsequently invalidated,
declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Agent or such Lender in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any
proceeding under any Debtor Relief Law or otherwise, then (a) to the extent of such recovery, the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not
been made or such set-off had not occurred, and (b) each Lender severally agrees to pay to the Agent upon demand its applicable share of any amount so recovered from or repaid by the Agent, plus interest
thereon from the date of such demand to the date such payment is made at a rate per annum equal to in the case of Loans and L/C Credit Extensions (A) in Dollars, the Federal Funds Rate from time to time in effect, (B) in an Alternative
Currency, the applicable Overnight Rate from time to time in effect. 
 11.06    Successors and Assigns. 

(a)    The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their
respective successors and assigns permitted hereby, except that the Borrowers may not assign or otherwise transfer any of their rights or obligations hereunder (except in a transaction permitted under Section 7.02) without
the prior written consent of the Agent and each Lender and no Lender may assign or otherwise transfer any of its rights or obligations hereunder except (i) to an Eligible Assignee in accordance with the provisions of
Section 11.06(b), (ii) by way of participation in accordance with the provisions of Section 11.06(d), (iii) by way of pledge or assignment of a security interest subject to the
restrictions of Section 11.06(f) and 11.06(i), or (iv) to an SPC in accordance with the provisions of Section 11.06(h) (and any other attempted assignment or transfer by any
party hereto shall be null and void). Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted hereby, Participants to the extent
provided in Section 11.06(d) and, to the extent expressly contemplated hereby, the Indemnitees) any legal or equitable right, remedy or claim under or by reason of this Agreement. 

  
 97 

 (b)    Any Lender may at any time assign to one or more Eligible
Assignees all or a portion of its rights and obligations under this Agreement (including all or a portion of its Commitment and the Loans (including for purposes of this Section 11.06(b), participations in L/C Obligations)
at the time owing to it); provided that (i) except in the case of an assignment of the entire remaining amount of the assigning Lender’s Commitment and the Loans at the time owing to it or in the case of an assignment to a Lender or
an Affiliate of a Lender or an Approved Fund with respect to a Lender, the aggregate amount of the Commitment (which for this purpose includes Loans outstanding thereunder) subject to each such assignment, determined as of the date the Assignment
and Assumption with respect to such assignment is delivered to the Administrative Agent or, if “trade date” is specified in the Assignment and Assumption, as of such date, shall not be less than $5,000,000 unless each of the Administrative
Agent and, so long as no Event of Default has occurred and is continuing, the Company otherwise consents (each such consent not to be unreasonably withheld or delayed); (ii) each partial assignment shall be made as an assignment of a
proportionate part of all the assigning Lender’s rights and obligations under this Agreement with respect to the Loans or the Commitment assigned, (iii) any assignment of a Commitment must be approved by the Administrative Agent (such
approval not to be unreasonably withheld or delayed) unless the Person that is the proposed assignee is itself a Lender or an Affiliate of a Lender or an Approved Fund (whether or not the proposed assignee would otherwise qualify as an Eligible
Assignee), (iv) any assignment of a Commitment must be approved by the L/C Issuers (such approval not to be unreasonably withheld or delayed) and (v) the parties to each assignment shall execute and deliver to the Administrative Agent an
Assignment and Assumption and (except in the case of an assignment by a Lender to its Affiliate) a processing and recordation fee of $3,500, provided, however, that the Administrative Agent may in its sole discretion elect to waive
such processing and recordation fee in the case of any assignment, and the Eligible Assignee, if it shall not be a Lender, shall deliver to the Administrative Agent an Administrative Questionnaire. Subject to acceptance and recording thereof by the
Administrative Agent pursuant to Section 11.06(c), from and after the effective date specified in each Assignment and Assumption, the Eligible Assignee thereunder shall be a party to this Agreement and, to the extent of the
interest assigned by such Assignment and Assumption, have the rights and obligations of a Lender under this Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be released
from its obligations under this Agreement (and, in the case of an Assignment and Assumption covering all of the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto but shall continue to
be entitled to the benefits of Sections 3.01, 3.04, 3.05 and 11.04 with respect to facts and circumstances occurring prior to the effective date of such assignment). Upon request, each Borrower (at its expense)
shall execute and deliver a Note to the assignee Lender. Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this Section 11.06(b) shall be treated for purposes of
this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with Section 11.06(d). 

No assignment or participation shall be made to any Person that was a Disqualified Institution as of the date (the “Trade
Date”) on which the assigning Lender entered into a binding agreement to sell and assign all or a portion of its rights and obligations under this Agreement to such Person (unless the Company has consented to such assignment in writing in
its sole and absolute discretion, in which case such Person will not be considered a Disqualified Institution for the purpose of such assignment or participation). Upon receipt of a list of Disqualified Institutions from the Company (or any updates
thereto), the Administrative Agent shall promptly provide such list or updates, as applicable, to the Lenders (including by posting to a Platform). Any Person shall become a “Disqualified Institution” for purposes of this Agreement two
(2) Business Days after the Administrative Agent provides such list or updates, as applicable, to the Lenders (including by posting to a Platform). For the avoidance of doubt, with respect to any assignee that becomes a Disqualified Institution
after the applicable Trade Date (including as a result of the delivery of a notice pursuant to the definition of “Disqualified Institution”), (x) such assignee shall not retroactively be disqualified from becoming a Lender and (y) the
execution by the Company of an Assignment and Assumption with respect to such assignee will not by itself result in such assignee no longer being considered a Disqualified Institution. Any assignment in violation of this paragraph shall not be void,
but the other provisions of this clause (b) shall apply. 

  
 98 

 If any assignment or participation is made to any Disqualified Institution without the
Company’s prior written consent in violation of the preceding paragraph, or if any Person becomes a Disqualified Institution after the applicable Trade Date, the Company may, at its sole expense and effort, upon notice to the applicable
Disqualified Institution and the Administrative Agent, (A) terminate any Commitment of such Disqualified Institution and repay all obligations of the applicable Borrower owing to such Disqualified Institution in connection with such Commitment,
and/or (B) require such Disqualified Institution to assign, without recourse (in accordance with and subject to the restrictions contained in this Section), all of its interest, rights and obligations under this Agreement to one or more
Eligible Assignees at the lesser of (x) the principal amount thereof and (y) the amount that such Disqualified Institution paid to acquire such interests, rights and obligations, in each case plus accrued interest, accrued fees and all
other amounts (other than principal amounts) payable to it hereunder. 
 Notwithstanding anything to the contrary contained in this
Agreement, Disqualified Institutions (A) will not (x) have the right to receive information, reports or other materials provided to Lenders by the Borrowers, the Administrative Agent or any other Lender, (y) attend or participate in
meetings attended by the Lenders and the Administrative Agent, or (z) access any electronic site established for the Lenders or confidential communications from counsel to or financial advisors of the Administrative Agent or the Lenders and
(B) (x) for purposes of any consent to any amendment, waiver or modification of, or any action under, and for the purpose of any direction to the Administrative Agent or any Lender to undertake any action (or refrain from taking any action)
under this Agreement or any other Loan Document, each Disqualified Institution will be deemed to have consented in the same proportion as the Lenders that are not Disqualified Institutions consented to such matter, and (y) for purposes of
voting on any plan of reorganization, each Disqualified Institution party hereto hereby agrees (1) not to vote on such plan of reorganization, (2) if such Disqualified Institution does vote on such plan of reorganization notwithstanding
the restriction in the foregoing clause (1), such vote will be deemed not to be in good faith and shall be “designated” pursuant to Section 1126(e) of the Bankruptcy Code (or any similar provision in any other Debtor Relief Laws), and
such vote shall not be counted in determining whether the applicable class has accepted or rejected such plan of reorganization in accordance with Section 1126(c) of the Bankruptcy Code (or any similar provision in any other Debtor Relief Laws)
and (3) not to contest any request by any party for a determination by the Bankruptcy Court (or other applicable court of competent jurisdiction) effectuating the foregoing clause (2). 

(c)    The Administrative Agent, acting solely for this purpose as an agent of the Borrowers (and such agency being solely
for tax purposes), shall maintain at the Administrative Agent’s Office a copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and addresses of the Lenders, and the Commitments of, and principal
amounts of the Loans and L/C Obligations owing to, each Lender pursuant to the terms hereof from time to time (the “Register”). The entries in the Register shall be conclusive absent manifest error, and the Borrowers, the
Administrative Agent and the Lenders may treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. The Register shall be
available for inspection by the Company, at any reasonable time and from time to time upon reasonable prior notice. In addition, at any time that a request for a consent for a material or substantive change to the Loan Documents is pending, any
Lender wishing to consult with other Lenders in connection therewith may request and receive from the Administrative Agent a copy of the Register. 

  
 99 

 (d)    (i) Any Lender may at any time, without the consent of, or notice
to, the Administrative Agent, sell participations to any Person (other than a natural person, any Borrower, any of the Borrowers’ Affiliates or Subsidiaries and any Defaulting Lender) (each, a “Participant”) in all or a portion
of such Lender’s rights and/or obligations under this Agreement (including all or a portion of its Commitment and/or the Loans (including such Lender’s participations in L/C Obligations) owing to it); provided that (i) unless a
Default or Event of Default has occurred and is continuing, the Company shall have approved the sale of participations to such Person (such approval not to be unreasonably withheld or delayed); (ii) [Reserved]; (iii) such Lender’s
obligations under this Agreement shall remain unchanged; (iv) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations; (v) the Borrowers, the Agent, the L/C Issuers and the other
Lenders shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under this Agreement; and (vi) such Lender complies with Section 11.06(d)(ii). Any
agreement or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this
Agreement; provided that such agreement or instrument may provide that such Lender will not, without the consent of the Participant, agree to any amendment, waiver or other modification described in the first proviso to
Section 11.01 that directly affects such Participant. Subject to Section 11.06(e), the Borrowers agree that each Participant shall be entitled to the benefits of Sections 3.01,
3.04 and 3.05 to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to Section 11.06(b) (it being understood that the documentation required under
Section 3.01(e) shall be delivered to the Lender who sells the participation) to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to paragraph (b) of this Section. To
the extent permitted by law, each Participant also shall be entitled to the benefits of Section 11.08 as though it were a Lender, provided such Participant agrees to be subject to
Section 2.13 as though it were a Lender. 
 (ii) Each Lender that sells a participation shall,
acting solely for this purpose as a non-fiduciary agent of the Company, maintain a register on which it enters the name and address of each Participant and the principal amounts (and stated interest) of each
Participant’s interest in the Loans or other obligations under the Loan Documents (the “Participant Register”); provided that no Lender shall have any obligation to disclose all or any portion of the Participant Register
(including the identity of any Participant or any information relating to a Participant’s interest in any commitments, loans, letters of credit or its other obligations under any Loan Document) to any Person except to the extent that such
disclosure is necessary to establish that such commitment, loan, letter of credit or other obligation is in registered form under Section 5f.103-1(c) of the United States Treasury Regulations. The entries
in the Participant Register shall be conclusive absent manifest error, and such Lender shall treat each Person whose name is recorded in the Participant Register as the owner of such participation for all purposes of this Agreement notwithstanding
any notice to the contrary. For the avoidance of doubt, the Administrative Agent (in its capacity as Administrative Agent) shall have no responsibility for maintaining a Participant Register. 

  
 100 

 (e)    A Participant shall not be entitled to receive any greater
payment under Sections 3.01 or 3.04, with respect to any participation, than the Lender from whom it acquired the applicable participation would have been entitled to receive, except to the extent such entitlement to receive a greater payment
results from a Change in Law that occurs after the Participant acquired the applicable participation. 
 (f)    Any
Lender may at any time pledge or assign a security interest in all or any portion of its rights under this Agreement (including under its Note, if any) to secure obligations of such Lender, including any pledge or assignment to secure obligations to
a Federal Reserve Bank or other central banking authority; provided that no such pledge or assignment shall release such Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party
hereto. 
 (g)    As used herein, the following terms have the following meanings: 

“Eligible Assignee” means (a) a Lender; (b) an Affiliate of a Lender; (c) an Approved Fund; and (d) any
other Person (other than a natural person) approved by (i) the Administrative Agent and each L/C Issuer and (ii) unless a Default or an Event of Default has occurred and is continuing, the Company (each such approval not to be unreasonably
withheld or delayed); provided that notwithstanding the foregoing, (i) “Eligible Assignee” shall not include (x) any Borrower, any of the Borrowers’ Affiliates or Subsidiaries, or any Defaulting Lender, (y) any
Disqualified Institution or (z) any natural Person (or a holding company, investment vehicle or trust for, or owned and operated for the primary benefit of one or more natural Persons). 

The Administrative Agent shall not be responsible or have any liability for, or have any duty to ascertain, inquire into, monitor or enforce,
compliance with the provisions of this Agreement relating to Disqualified Institutions. Without limiting the generality of the foregoing, the Administrative Agent shall not (x) be obligated to ascertain, monitor or inquire as to whether any
Lender or Participant or prospective Lender or Participant is a Disqualified Institution or (y) have any liability with respect to or arising out of any assignment or participation of Loans, or disclosure of confidential information, to any
Disqualified Institution. 

  
 101 

 (h)    Notwithstanding anything to the contrary contained herein, any
Lender (a “Granting Lender”) may grant to a special purpose funding vehicle identified as such in writing from time to time by the Granting Lender to the Administrative Agent and the Company (an “SPC”) the option to
provide all or any part of any Committed Loan that such Granting Lender would otherwise be obligated to make pursuant to this Agreement; provided that (i) nothing herein shall constitute a commitment by any SPC to fund any Committed
Loan, and (ii) if an SPC elects not to exercise such option or otherwise fails to make all or any part of such Committed Loan, the Granting Lender shall be obligated to make such Committed Loan pursuant to the terms hereof or, if it fails to do
so, to make such payment to the Agent as is required under Section 2.12(b)(ii); provided, further that no such grant to an SPC shall impose Taxes or Other Taxes on any Borrower. Each party hereto hereby agrees
that (i) neither the grant to any SPC nor the exercise by any SPC of such option shall increase the costs or expenses or otherwise increase or change the obligations of the Company under this Agreement (including its obligations under
Section 3.04), (ii) no SPC shall be liable for any indemnity or similar payment obligation under this Agreement for which a Lender would be liable, and (iii) the Granting Lender shall for all purposes, including
the approval of any amendment, waiver or other modification of any provision of any Loan Document, remain the lender of record hereunder. The making of a Committed Loan by an SPC hereunder shall utilize the Commitment of the Granting Lender to the
same extent, and as if, such Committed Loan were made by such Granting Lender. In furtherance of the foregoing, each party hereto hereby agrees (which agreement shall survive the termination of this Agreement) that, prior to the date that is one
year and one day after the payment in full of all outstanding commercial paper or other senior debt of any SPC, it will not institute against, or join any other Person in instituting against, such SPC any bankruptcy, reorganization, arrangement,
insolvency, or liquidation proceeding under the laws of the United States or any State thereof. Notwithstanding anything to the contrary contained herein, any SPC may (i) with notice to, but without prior consent of the Company and the
Administrative Agent and without paying any processing fee therefor, assign all or any portion of its right to receive payment with respect to any Committed Loan to the Granting Lender and (ii) disclose on a confidential basis any non-public information relating to its funding of Committed Loans to any rating agency, commercial paper dealer or provider of any surety or Guarantee or credit or liquidity enhancement to such SPC. 

(i)    Notwithstanding anything to the contrary contained herein, any Lender that is a Fund may create a security interest
in all or any portion of the Loans owing to it and the Note, if any, held by it to the trustee for holders of obligations owed, or securities issued, by such Fund as security for such obligations or securities, provided that unless and until
such trustee actually becomes a Lender in compliance with the other provisions of this Section 11.06, (a) no such pledge shall release the pledging Lender from any of its obligations under the Loan Documents and
(b) such trustee shall not be entitled to exercise any of the rights of a Lender under the Loan Documents even though such trustee may have acquired ownership rights with respect to the pledged interest through foreclosure or otherwise. For
purposes of this Section 11.06(i), “Fund” means any Person (other than a natural person) that is (or will be) engaged in making, purchasing, holding or otherwise investing in commercial loans and similar
extensions of credit in the ordinary course of its business. 
 (j)    [Reserved]. 

  
 102 

 (k)    Electronic Execution of Assignments and Certain Other
Documents. The words “execute,” “execution,” “signed,” “signature,” and words of like import in or related to any document to be signed in connection with this Agreement and the transactions contemplated
hereby (including without limitation Assignment and Assumptions, amendments or other modifications, Committed Loan Notices, waivers and consents) shall be deemed to include electronic signatures, the electronic matching of assignment terms and
contract formations on electronic platforms approved by the Administrative Agent, or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use
of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records
Act, or any other similar state laws based on the Uniform Electronic Transactions Act; provided that notwithstanding anything contained herein to the contrary the Administrative Agent is under no obligation to agree to accept electronic
signatures in any form or in any format unless expressly agreed to by the Administrative Agent pursuant to procedures approved by it. 

(l)    Defaulting Lenders. In connection with any assignment of rights and obligations of any Defaulting Lender
hereunder, no such assignment shall be effective unless and until, in addition to the other conditions thereto set forth herein, the parties to the assignment shall make such additional payments to the Administrative Agent in an aggregate amount
sufficient, upon distribution thereof as appropriate (which may be outright payment, purchases by the assignee of participations or subparticipations, or other compensating actions, including funding, with the consent of the Borrowers and the
Administrative Agent, the applicable pro rata share of Loans previously requested but not funded by the Defaulting Lender, to each of which the applicable assignee and assignor hereby irrevocably consent), to (x) pay and satisfy in full all
payment liabilities then owed by such Defaulting Lender to the Administrative Agent or any Lender hereunder (and interest accrued thereon) and (y) acquire (and fund as appropriate) its full pro rata share of all Loans and participations in
Letters of Credit in accordance with its Pro Rata Share. Notwithstanding the foregoing, in the event that any assignment of rights and obligations of any Defaulting Lender hereunder shall become effective under applicable Law without compliance with
the provisions of this Section 11.06(l), then the assignee of such interest shall be deemed to be a Defaulting Lender for all purposes of this Agreement until such compliance occurs. 

11.07    Treatment of Certain Information; Confidentiality. 

Each Agent, L/C Issuer and Lender agrees to maintain, and to cause its Affiliates (including any Related Parties) to maintain, the
confidentiality of the Information (as defined below), except that Information may be disclosed (a) to its Affiliates and to its and its Affiliates’ respective auditors, partners, directors, officers, employees, agents, advisors and
representatives (it being understood that the Persons to whom such disclosure is made will be informed of the confidential nature of such Information and instructed to keep such Information confidential); (b) to the extent requested by any
regulatory authority purporting to have jurisdiction over it (including any self-regulatory authority, such as the National Association of Insurance Commissioners); (c) to the extent required by applicable laws or regulations or by any subpoena
or similar legal process; (d) to any other party hereto; (e) to the extent reasonably required, in connection with the exercise of any remedies hereunder or under any other Loan Document or any action or proceeding relating to this
Agreement or any other Loan Document or the enforcement of rights hereunder or thereunder; (f) subject to an agreement containing provisions substantially the same as those of this Section, to (i) any assignee of or Participant in, or any
prospective assignee of or Participant in, any of its rights or obligations under this Agreement, or (ii) any actual or prospective counterparty (or its advisors) to any swap or derivative transaction relating to obligations of the Loan Parties
under the Loan Documents; (g) with the consent of the Company; or (h) to the extent such Information (i) becomes publicly available other than as a result of a breach of this Section, (ii) becomes available to the Agent, any L/C
Issuer, any Lender or any of their respective Affiliates on a nonconfidential basis from a source other than the Company, (iii) is independently discovered or developed by such party without utilizing any Information received from any Loan
Party or violating the terms of this Section or (iv) was already in such party’s possession; provided, however, that to the extent permitted by applicable law or regulation, the Agent, the L/C Issuers and the Lenders agree to
notify the Company prior to (if reasonably practicable) or concurrently with its disclosure of such information to any third party pursuant to clauses (b) (other than in the case of routine bank examinations), (c) and (f). In addition, the
Administrative Agent and the Lenders may disclose the existence of this Agreement and public information about this Agreement to market data collectors, similar service providers to the lending industry, and service providers to the Administrative
Agent and the Lenders in connection with the administration and management of this Agreement, the other Loan Documents, the Commitments, and the Credit Extensions. 

  
 103 

 For the purposes of this Section, “Information” means all information
received from any Loan Party relating to any Loan Party or its business, other than any such information that is available to the Agent, any L/C Issuer or any Lender or any of their respective Affiliates on a nonconfidential basis prior to
disclosure by any Loan Party; provided that, in the case of any information received from a Loan Party after the date hereof (other than in connection with Section 6.03, all of which is acknowledged to constitute
“Information” regardless of any marking as confidential), such information is clearly identified at the time of delivery as confidential. Any Person required to maintain the confidentiality of Information as provided in this Section shall
be considered to have complied with its obligation to do so if such Person has exercised the same degree of care to maintain the confidentiality of such Information as such Person would accord to its own confidential information. 

The Agent, each of the L/C Issuers and Lenders acknowledges that (a) the Information may include material
non-public information concerning the Borrowers or a Subsidiary, as the case may be, (b) it has developed compliance procedures regarding the use of material
non-public information and (c) it will handle such material non-public information in accordance with applicable Law, including United States federal and state
securities Laws. 
 11.08    Set-off. In addition to any rights and remedies of
the Lenders provided by law, upon the occurrence and during the continuance of any Event of Default, each Lender is authorized at any time and from time to time, without prior notice to the Borrowers, any such notice being waived by the Borrowers to
the fullest extent permitted by law, to set off and apply any and all deposits (general or special, time or demand, provisional or final) at any time held by, and other indebtedness at any time owing by, such Lender to or for the credit or the
account of the respective Loan Parties against any and all Obligations owing to such Lender hereunder or under any other Loan Document, now or hereafter existing, irrespective of whether or not the Administrative Agent or such Lender shall have made
demand under this Agreement or any other Loan Document and although such Obligations may be contingent or unmatured or denominated in a currency different from that of the applicable deposit or indebtedness. Each Lender agrees promptly to notify the
Borrowers and the Administrative Agent after any such set-off and application made by such Lender; provided, however that (i) the failure to give such notice shall not affect the validity of
such set-off and application and (ii) in the event that any Defaulting Lender shall exercise any such right of setoff, (x) all amounts so set off shall be paid over immediately to the Administrative
Agent for further application in accordance with the provisions of Section 2.18 and, pending such payment, shall be segregated by such Defaulting Lender from its other funds and deemed held in trust for the benefit of the
Administrative Agent and the Lenders, and (y) the Defaulting Lender shall provide promptly to the Administrative Agent a statement describing in reasonable detail the Obligations owing to such Defaulting Lender as to which it exercised such
right of setoff. 

  
 104 

 11.09    Interest Rate Limitation. Notwithstanding anything to the
contrary contained in any Loan Document, the interest paid or agreed to be paid under the Loan Documents shall not exceed the maximum rate of non-usurious interest permitted by applicable Law (the
“Maximum Rate”). If the Agent or any Lender shall receive interest in an amount that exceeds the Maximum Rate, the excess interest shall be applied to the principal of the Loans or, if it exceeds such unpaid principal, refunded to
the Company. In determining whether the interest contracted for, charged, or received by the Administrative Agent or a Lender exceeds the Maximum Rate, such Person may, to the extent permitted by applicable Law, (a) characterize any payment
that is not principal as an expense, fee, or premium rather than interest, (b) exclude voluntary prepayments and the effects thereof, and (c) amortize, prorate, allocate, and spread in equal or unequal parts the total amount of interest
throughout the contemplated term of the Obligations hereunder. 
 11.10    Counterparts. This Agreement may be executed in
one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 

11.11    Integration. This Agreement, together with the other Loan Documents, comprises the complete and integrated
agreement of the parties on the subject matter hereof and thereof and supersedes all prior agreements, written or oral, on such subject matter. In the event of any conflict between the provisions of this Agreement and those of any other Loan
Document, the provisions of this Agreement shall control; provided that the inclusion of supplemental rights or remedies in favor of the Agent or the Lenders in any other Loan Document shall not be deemed a conflict with this Agreement. Each
Loan Document was drafted with the joint participation of the respective parties thereto and shall be construed neither against nor in favor of any party, but rather in accordance with the fair meaning thereof. 

11.12    Survival of Representations and Warranties. All representations and warranties made hereunder and in any other Loan
Document or other document delivered pursuant hereto or thereto or in connection herewith or therewith shall survive the execution and delivery hereof and thereof. Such representations and warranties have been or will be relied upon by the Agent and
each Lender, regardless of any investigation made by the Agent or any Lender or on their behalf and notwithstanding that the Agent or any Lender may have had notice or knowledge of any Default at the time of any Credit Extension, and shall continue
in full force and effect as long as any Loan or any other Obligation hereunder shall remain unpaid or unsatisfied or any Letter of Credit shall remain outstanding. 

  
 105 

 11.13    Severability. If any provision of this Agreement or the other
Loan Documents is held to be illegal, invalid or unenforceable, (a) the legality, validity and enforceability of the remaining provisions of this Agreement and the other Loan Documents shall not be affected or impaired thereby and (b) the
parties shall endeavor in good faith negotiations to replace the illegal, invalid or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the illegal, invalid or unenforceable provisions.
The invalidity of a provision in a particular jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 

11.14    [Reserved] 

11.15    Replacement of Lenders. If (i) any Lender requests compensation under Section 3.04,
(ii) a Borrower is required to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 3.01, (iii) any Lender is a
Non-Extending Lender for any extension of the Maturity Date, (iv) any Lender is a “Defaulting Lender”, (v) any Lender does not consent to an amendment to the definition of Designated Borrower
Jurisdiction that has been consented to by the Required Lenders, (vi) any Lender is a Protesting Lender under Section 2.16 or (vii) any other circumstance exists hereunder that gives any Borrower the right to
replace a Lender as a party hereto, then, subject to Section 3.06(b), such Borrower may, at its sole expense and effort, upon notice to such Lender and the Agent, require such Lender to assign and delegate, without recourse
(in accordance with and subject to the restrictions contained in, and consents required by, Section 11.06), all of its interests, rights and obligations under this Agreement and the related Loan Documents to an assignee
that shall assume such obligations (which assignee may be another Lender, if a Lender accepts such assignment), provided that: 

(a)    the Company shall have paid to the Administrative Agent the assignment fee specified in
Section 11.06(b); 
 (b)    such Lender shall have received payment of an amount equal to the
outstanding principal of its Loans and L/C Advances, accrued interest thereon, accrued fees and all other amounts payable to it hereunder and under the other Loan Documents (including any amounts under Section 3.05) from
the assignee (to the extent of such outstanding principal and accrued interest and fees) or the Company (in the case of all other amounts); 

(c)    in the case of any such assignment resulting from a claim for compensation under
Section 3.04 or payments required to be made pursuant to Section 3.01, such assignment will result in a reduction in such compensation or payments thereafter; 

(d)    in the case of any such assignment resulting from clause (v) above, the applicable assignee shall have
consented to the proposed amendment; 
 (e)    in the case of any such assignment resulting from clause (vi) above,
such assignee shall have consented to make Loans to the applicable Designated Foreign Borrower. 
 (e)    such
assignment does not conflict with applicable Laws. 

  
 106 

 A Lender shall not be required to make any such assignment or delegation if, prior thereto,
as a result of a waiver by such Lender or otherwise, the circumstances entitling the Company to require such assignment and delegation cease to apply. 

11.16    Governing Law. 

(a)    THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK APPLICABLE
TO AGREEMENTS MADE AND TO BE PERFORMED ENTIRELY WITHIN SUCH STATE; PROVIDED THAT THE AGENT, EACH L/C ISSUER AND EACH LENDER SHALL RETAIN ALL RIGHTS ARISING UNDER FEDERAL LAW. 

(b)    ANY LEGAL ACTION OR PROCEEDING WITH RESPECT TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT MAY BE BROUGHT IN THE
COURTS OF THE STATE OF NEW YORK OR OF THE FEDERAL DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK, IN EACH CASE LOCATED IN THE CITY AND COUNTY OF NEW YORK, AND BY EXECUTION AND DELIVERY OF THIS AGREEMENT, THE BORROWERS, THE AGENT, EACH L/C
ISSUER AND EACH LENDER CONSENTS, FOR ITSELF AND IN RESPECT OF ITS PROPERTY, TO THE EXCLUSIVE JURISDICTION OF THOSE COURTS. THE BORROWERS, THE AGENT, EACH L/C ISSUER AND EACH LENDER IRREVOCABLY WAIVES ANY OBJECTION, INCLUDING ANY OBJECTION TO THE
LAYING OF VENUE OR BASED ON THE GROUNDS OF FORUM NON CONVENIENS, WHICH IT MAY NOW OR HEREAFTER HAVE TO THE BRINGING OF ANY ACTION OR PROCEEDING IN SUCH JURISDICTION IN RESPECT OF ANY LOAN DOCUMENT OR OTHER DOCUMENT RELATED THERETO. THE
BORROWERS, THE AGENT, EACH L/C ISSUER AND EACH LENDER WAIVES PERSONAL SERVICE OF ANY SUMMONS, COMPLAINT OR OTHER PROCESS, WHICH MAY BE MADE BY ANY OTHER MEANS PERMITTED BY THE LAW OF SUCH STATE. 

11.17    Waiver of Right to Trial by Jury. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY
APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON
CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PERSON WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO
ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.

  
 107 

 11.18    No Advisory or Fiduciary Responsibility. In connection with all
aspects of each transaction contemplated hereby (including in connection with any amendment, waiver or other modification hereof or of any other Loan Document), each Borrower and each other Loan Party acknowledges and agrees, and acknowledges its
Affiliates’ understanding, that: (i) (A) the arranging and other services regarding this Agreement provided by the Agent, the Lenders and the Arrangers are arm’s-length commercial transactions
between the Borrowers, each other Loan Party and their respective Affiliates, on the one hand, and the Agent, the Lenders and the Arrangers, on the other hand, (B) such Borrower and each other Loan Party has consulted its own legal, accounting,
regulatory and tax advisors to the extent it has deemed appropriate, and (C) such Borrower and each other Loan Party is capable of evaluating, and understands and accepts, the terms, risks and conditions of the transactions contemplated hereby
and by the other Loan Documents; (ii) (A) the Agent, the Lenders and the Arrangers is and has been acting solely as a principal and, except as expressly agreed in writing by the relevant parties, has not been, is not, and will not be
acting as an advisor, agent or fiduciary for any Borrower, any other Loan Party or any of their respective Affiliates, or any other Person and (B) Neither the Agent nor the Lenders nor any of the Arrangers has any obligation to any Borrower,
any other Loan Party or any of their respective Affiliates with respect to the transactions contemplated hereby except those obligations expressly set forth herein and in the other Loan Documents; and (iii) the Agent, the Lenders and the
Arrangers and their respective Affiliates may be engaged in a broad range of transactions that involve interests that differ from those of the Borrowers, the other Loan Parties and their respective Affiliates, and neither the Agent nor the Lenders
nor the Arrangers has any obligation to disclose any of such interests to any Borrower, any other Loan Party or any of their respective Affiliates. To the fullest extent permitted by law, each of the Borrowers and the other Loan Parties hereby
waives and releases any claims that it may have against the Agent, the Lenders or the Arrangers with respect to any breach or alleged breach of agency or fiduciary duty in connection with any aspect of any transaction contemplated hereby. 

11.19    USA Patriot Act Notice. Each Lender that is subject to the Act (as hereinafter defined) and the Administrative
Agent (for itself and not on behalf of any Lender) hereby notifies the Borrowers that pursuant to the requirements of the USA PATRIOT Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001))
(the “Act”), it is required to obtain, verify and record information that identifies the Borrowers, which information includes the name and address of the Borrowers and other information that will allow such Lender or the
Administrative Agent, as applicable, to identify the Borrowers in accordance with the Act. 
 11.20    Judgment. If, for
the purposes of obtaining judgment in any court, it is necessary to convert a sum due hereunder or any other Loan Document in one currency into another currency, the rate of exchange used shall be that at which in accordance with normal banking
procedures the Administrative Agent could purchase the first currency with such other currency on the Business Day preceding that on which final judgment is given. The obligation of a Borrower in respect of any such sum due from it to the
Administrative Agent hereunder or under the other Loan Documents shall, notwithstanding any judgment in a currency (the “Judgment Currency”) other than that in which such sum is denominated in accordance with the applicable
provisions of this Agreement (the “Agreement Currency”), be discharged only to the extent that on the Business Day following receipt by the Administrative Agent of any sum adjudged to be so due in the Judgment Currency, the
Administrative Agent may in accordance with normal banking procedures purchase the Agreement Currency with the Judgment Currency. If the amount of the Agreement Currency so purchased is less than the sum originally due to the Administrative Agent in
the Agreement Currency, the applicable Borrower agrees, as a separate obligation and notwithstanding any such judgment, to indemnify the Administrative Agent or the Person to whom such obligation was owing against such loss. If the amount of the
Agreement currency so purchased is greater than the sum originally due to the Administrative Agent in such currency, the Administrative Agent agrees to return the amount of any excess to such Borrower (or to any other Person who may be entitled
thereto under applicable law). 

  
 108 

 11.21    Acknowledgment and Consent to
Bail-In of EEA Financial Institutions. Solely to the extent any Lender or L/C Issuer that is an EEA Financial Institution is a party to this Agreement and notwithstanding anything to the contrary in any
Loan Document or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any liability of any Lender or L/C Issuer that is an EEA Financial Institution arising under any Loan Document, to the
extent such liability is unsecured, may be subject to the write-down and conversion powers of an EEA Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by: 

(a)    the application of any Write-Down and Conversion Powers by an EEA Resolution Authority to any such liabilities
arising hereunder which may be payable to it by any Lender or L/C Issuer that is an EEA Financial Institution; and 

(b)    the effects of any Bail-In Action on any such liability, including, if
applicable: 
 (i) a reduction in full or in part or cancellation of any such liability; 

(ii) a conversion of all, or a portion of, such liability into shares or other instruments of ownership in such EEA Financial
Institution, its parent undertaking, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or other instruments of ownership will be accepted by it in lieu of any rights with respect to any such
liability under this Agreement or any other Loan Document; or 
 (iii) the variation of the terms of such liability in
connection with the exercise of the write-down and conversion powers of any EEA Resolution Authority. 

  
 109 

 11.22    Acknowledgement Regarding Any Supported QFCs. To the extent that
the Loan Documents provide support, through a guarantee or otherwise, for Swap Contracts or any other agreement or instrument that is a QFC (such support, “QFC Credit Support” and each such QFC a “Supported QFC”),
the parties acknowledge and agree as follows with respect to the resolution power of the Federal Deposit Insurance Corporation under the Federal Deposit Insurance Act and Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act
(together with the regulations promulgated thereunder, the “U.S. Special Resolution Regimes”) in respect of such Supported QFC and QFC Credit Support (with the provisions below applicable notwithstanding that the Loan Documents and
any Supported QFC may in fact be stated to be governed by the laws of the State of New York and/or of the United States or any other state of the United States) that in the event a Covered Entity that is party to a Supported QFC (each, a
“Covered Party”) becomes subject to a proceeding under a U.S. Special Resolution Regime, the transfer of such Supported QFC and the benefit of such QFC Credit Support (and any interest and obligation in or under such Supported QFC
and such QFC Credit Support, and any rights in property securing such Supported QFC) from such Covered Party will be effective to the same extent as the transfer would be effective under the U.S. Special Resolution Regime if the Supported QFC and
such QFC Credit Support (and any such interest, obligation and rights in property) were governed by the laws of the United States or a state of the United States. In the event a Covered Party or a BHC Act Affiliate of a Covered Party becomes subject
to a proceeding under a U.S. Special Resolution Regime, Default Rights under the Loan Documents that might otherwise apply to such Supported QFC or any QFC Credit Support that may be exercised against such Covered Party are permitted to be exercised
to no greater extent than such Default Rights could be exercised under the U.S. Special Resolution Regime if the Supported QFC and the Loan Documents were governed by the laws of the United States or a state of the United States. Without limitation
of the foregoing, it is understood and agreed that rights and remedies of the parties with respect to a Defaulting Lender shall in no event affect the rights of any Covered Party with respect to a Supported QFC or any QFC Credit Support. 

[Signature Pages Follow] 

  
 110 

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

			
	MCKESSON CORPORATION
		
	By:	 	 /s/ Brian P. Moore

	Name:	 	Brian P. Moore
	Title:	 	Senior Vice President and Treasurer

  
 [Signature Page to Credit
Agreement] 

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

			
		
	By:	 	 /s/ Anthea Del Bianco

	Name:	 	Anthea Del Bianco
	Title:	 	Vice President

			
	
	BANK OF AMERICA, N.A., as L/C Issuer and Lender

			
		
	By:	 	 /s/ Joseph L. Corah

	Name:	 	Joseph L. Corah
	Title:	 	Director

  
 [Signature Page to Credit
Agreement] 

			
	BARCLAYS BANK PLC, as L/C Issuer and Lender
		
	By:	 	 /s/ Ronnie Glenn

	Name:	 	Ronnie Glenn
	Title:	 	Director

  
 [Signature Page to Credit
Agreement] 

			
	CITIBANK N.A., as L/C Issuer and Lender
		
	By:	 	 /s/ Richard Rivera

	Name:	 	Richard Rivera
	Title:	 	Vice President

  
 [Signature Page to Credit
Agreement] 

			
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as L/C Issuer and Lender
		
	By:	 	 /s/ Darin Mullis

	Name:	 	Darin Mullis
	Title:	 	Managing Director

  
 [Signature Page to Credit
Agreement] 

			
	GOLDMAN SACHS BANK USA, as L/C Issuer and Lender
		
	By:	 	 /s/ Annie Carr

	Name:	 	Annie Carr
	Title:	 	Authorized Signatory

  
 [Signature Page to Credit
Agreement] 

			
	JPMORGAN CHASE BANK, N.A., as L/C Issuer and Lender
		
	By:	 	 /s/ Joseph McShane

	Name:	 	Joseph McShane
	Title:	 	Vice President

  
 [Signature Page to Credit
Agreement] 

			
	HSBC BANK USA, NATIONAL ASSOCIATION, as L/C Issuer and Lender
		
	By:	 	 /s/ Eric Seltenrich

	Name:	 	Eric Seltenrich
	Title:	 	Managing Director

  
 [Signature Page to Credit
Agreement] 

			
	BNP PARIBAS, as a Lender
		
	By:	 	 /s/ Melissa Dyki

	Name:	 	Melissa Dyki
	Title:	 	Director
		
	By:	 	 /s/ Kyle Fitzpatrick

	Name:	 	Kyle Fitzpatrick
	Title:	 	Vice President

  
 [Signature Page to Credit
Agreement] 

			
	DEUTSCHE BANK AG NEW YORK BRANCH, as a Lender
		
	By:	 	 /s/ Ming K. Chu

	Name:	 	Ming K. Chu
	Title:	 	Director
		
	By:	 	 /s/ Virginia Cosenza

	Name:	 	Virginia Cosenza
	Title:	 	Vice President

  
 [Signature Page to Credit
Agreement] 

			
	PNC BANK NATIONAL ASSOCIATION, as a Lender
		
	By:	 	 /s/ Dawn M. Kondrat

	Name:	 	Dawn M. Kondrat
	Title:	 	SVP, Credit Product Specialist

  
 [Signature Page to Credit
Agreement] 

			
	THE BANK OF NOVA SCOTIA, as a Lender
		
	By:	 	 /s/ Michael Grad

	Name:	 	Michael Grad
	Title:	 	Director

  
 [Signature Page to Credit
Agreement] 

			
	THE TORONTO-DOMINION BANK, NEW YORK BRANCH, as a Lender
		
	By:	 	 /s/ Peter Kuo

	Name:	 	Peter Kuo
	Title:	 	Authorized Signatory

  
 [Signature Page to Credit
Agreement] 

			
	UNICREDIT BANK AG, NEW YORK BRANCH, as a Lender
		
	By:	 	 /s/ Fabio Della Malva

	Name:	 	Fabio Della Malva
	Title:	 	Managing Director
		
	By:	 	 /s/ Laura Shelmerdine

	Name:	 	Laura Shelmerdine
	Title:	 	Associate Director

  
 [Signature Page to Credit
Agreement] 

			
	U.S. BANK NATIONAL ASSOCIATION, as a Lender
		
	By:	 	 /s/ David C. Mruk

	Name:	 	David C. Mruk
	Title:	 	SVP

  
 [Signature Page to Credit
Agreement] 

			
	ING BANK N.V., DUBLIN BRANCH, as a Lender
		
	By:	 	 /s/ Sean Hassett

	Name:	 	Sean Hassett
	Title:	 	Director
		
	By:	 	 /s/ Killian Walsh

	Name:	 	Killian Walsh
	Title:	 	Director

  
 [Signature Page to Credit
Agreement] 

			
	MUFG BANK, LTD., as a Lender
		
	By:	 	 /s/ Steve Aronowitz

	Name:	 	Steve Aronowitz
	Title:	 	Managing Director

  
 [Signature Page to Credit
Agreement] 

			
	NATIONAL WESTMINSTER BANK PLC, as a Lender
		
	By:	 	 /s/ M.A. Collins

	Name:	 	M.A. Collins
	Title:	 	Director

  
 [Signature Page to Credit
Agreement]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00300-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00300-of-00352.parquet"}]]