Document:

Exhibit 4.1

 

Execution Version

 

THIRD SUPPLEMENTAL INDENTURE

 

THIRD SUPPLEMENTAL INDENTURE (this “Third
Supplemental Indenture”), dated as of May 3, 2021, among Basic Energy Services, Inc. (together with its
successors and assigns, the “Company”), each Guarantor under the Indenture referred to below, and UMB Bank, N.A., as
Trustee (in such capacity, the “Trustee”) and Collateral Agent (in such capacity, the “Collateral Agent”)
under the Indenture referred to below.

 

W I T N E S S E T H

 

WHEREAS, the Company, the Guarantors, the Trustee
and the Collateral Agent have heretofore executed and delivered an Indenture, dated as of October 2, 2018 (as amended, supplemented,
waived or otherwise modified, the “Indenture”), pursuant to which the Company has issued an aggregate principal amount
of $347,500,000 of 10.75% of Senior Secured Notes due 2023 of the Company (the “Notes”);

 

WHEREAS, the Company and the Guarantors intend
to enter into the Super Priority Bridge Credit Agreement, providing for borrowings of up to $10,000,000 as to which Liens on the Collateral
securing the same shall rank senior to the Liens on the Collateral for the benefit of the Notes;

 

WHEREAS, certain beneficial owners of the Notes
(collectively, the “Consenting Notes Owners”) have delivered one or more consent letters executed by Cede &
Co, the registered holder (the “Holder”) of the Notes (collectively, the “Noteholder Consents”),
to amend and supplement the Indenture as set forth in Sections 2, 3, 4, 5 and 6 of this Third Supplemental Indenture (collectively, the
 “Amendments”) on the terms set forth herein;

 

WHEREAS, subject to certain exceptions, Section 9.2
of the Indenture provides, among other things, that the Indenture and the other Notes Documents may be amended or supplemented with the
consent of the Holders of at least a majority in aggregate principal amount of the Notes then outstanding (the “Majority Requirement”);

 

WHEREAS, Section 9.2 of the Indenture also
provides, among other things, that the Liens on all or substantially all of the Collateral for the benefit of the Holders of the Notes
may be released with the consent of the Holders of at least two-thirds of the aggregate principal amount of the Notes then outstanding
(the “Super-majority Requirement”);

 

WHEREAS, Ascribe III Investment LLC (“Ascribe”)
has represented that it is the beneficial owner of $81,850,000 of Notes and is an Affiliate of the Company, and, accordingly, Section 12.6
of the Indenture provides that such Notes shall be disregarded and deemed not to be outstanding in determining whether the Holders of
the required principal amount of Notes have concurred in consenting to the Amendments;

 

WHEREAS, the Consenting Notes Owners beneficially
own $178,984,000, or 67% of the $265,650,000.00 aggregate principal amount of the issued and outstanding Notes, Cede & Co.
has executed the Noteholder Consents in respect of such aggregate principal amount, and accordingly the Holders of an aggregate principal
amount of the outstanding Notes satisfying the Majority Requirement and (without conceding that it is applicable to the Amendments) the
Super-majority Requirement have duly consented to this Third Supplemental Indenture and the Amendments; and

 

WHEREAS, pursuant to Section 9.2 of the Indenture,
the Trustee, the Collateral Agent, the Guarantors and the Company are authorized to execute and deliver this Third Supplemental Indenture;

 

NOW, THEREFORE, in consideration of the foregoing
and for other good and valuable consideration, the receipt of which is hereby acknowledged, the Company, the Guarantors, the Collateral
Agent and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders of the Notes as follows:

 

    1 

     

    

 

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

 

2.            Effectiveness;
Authorizing Grant. This Third Supplemental Indenture shall become effective, and its provisions shall become operative, immediately
upon receipt by the Trustee of this Third Supplemental Indenture executed and delivered by the Company, the Guarantors, the Trustee and
the Collateral Agent, and every Holder of Notes shall be bound hereby.

 

Notwithstanding
anything in the Indenture or any other Notes Document to the contrary, (i) the Trustee and the Collateral Agent are hereby authorized,
instructed and directed to execute and deliver (A) the Super Priority Intercreditor Agreement and any other Notes Document required
by the Super Priority Bridge Credit Agreement or the Super Priority Intercreditor Agreement to be executed and delivered on the closing
date of the Super Priority Bridge Credit Agreement and (B) any amendment, supplement or modification to, or joinder to, any Notes
Document required or determined by the Company to be advisable in connection with the entry into the Super Priority Bridge Credit Agreement
or any Super Priority Security Document, in each case as and to the extent expressed to be a party thereto and whether executed and delivered
on the date hereof or any date hereafter, without any further consent of the Holders to any such amendment, modification, supplement or
joinder, and (ii) each of the Notes Documents not so amended, supplemented or modified is, automatically and unconditionally, amended,
waived, supplemented or modified solely to the extent necessary to not be in conflict with the Super Priority Bridge Credit Agreement,
any Super Priority Bridge Security Document and this Third Supplemental Indenture without any further action required by the Trustee,
the Collateral Agent or any other Person. In executing and delivering any document under clause
(i)(B) above, the Trustee and the Collateral Agent shall receive an Officers’ Certificate and an Opinion of Counsel from the
Company, each stating that execution of such amendment, supplement, modification or joinder is permitted by the Indenture (including this
Third Supplemental Indenture) and that all conditions precedent under the Indenture (including this Third Supplemental Indenture) and
the other Notes Documents to the execution and delivery thereof have been complied with, and the Trustee and the Collateral Agent shall
be entitled to and shall rely solely upon such Officers’ Certificate as conclusive evidence of whether execution and delivery of
such document is required or advisable.

 

3.            Amendments
to Section 1.1 (Definitions) of the Indenture.

 

(a)          Section 1.1
of the Indenture is hereby amended by inserting in alphabetical order the following definitions:

 

“Ascribe” means Ascribe III Investment
LLC.

 

“Bridge Note” means that certain Senior
Secured Promissory Note issued by the Company and payable to Ascribe dated as of March 9, 2020.

 

“Super Priority Agent” means the Administrative
Agent as defined in the Super Priority Bridge Credit Agreement.

 

“Super Priority Bridge Credit Agreement”
means the Super Priority Credit Agreement, dated on or about the date hereof, among the Company, the Super Priority Agent, and the Term
Loan Lenders party thereto from time to time as the same may be as amended, restated, amended and restated, modified, renewed, extended,
increased, refunded, replaced in any manner or refinanced (including through one or more Debt Issuances) in whole or in part from time
to time.

 

“Super Priority Bridge Guarantee Agreement”
means the Guaranty, dated on or about the date hereof, among the Guarantors named therein and the Super Priority Agent, as the same may
be as amended, restated, amended and restated, modified, renewed, extended, increased, refunded, replaced in any manner or refinanced
(including through one or more Debt Issuances) in whole or in part from time to time

 

    2 

     

    

 

“Super Priority Intercreditor Agreement”
means the Super Priority Intercreditor Agreement, dated on or about the date hereof, among the Company, the Guarantors from time to time
party thereto, the Super Priority Agent, the Collateral Agent and Ascribe as the payee and secured party under the Bridge Note, as the
same may be as amended, restated, amended and restated, modified, renewed, extended, increased, refunded, or replaced in any manner in
whole or in part from time to time.

 

“Super Priority Patent Security Agreement”
means the Patent Security Agreement Supplement referred to in the Super Priority Security Agreement.

 

“Super
Priority Security Agreement” means among the Security Agreement, dated on or about
the date hereof, among the Company, the Debtors (as defined therein) and the Super Priority Agent for the
benefit of the holders of the Secured Obligations (as defined therein).

 

“Super Priority Trademark Security Agreement”
means the Trademark Security Agreement Supplement referred to in the Super Priority Security Agreement.

 

“Super Priority Security Documents” means
the Super Priority Security Agreement, the Super Priority Patent Security Agreement, the Super Priority Trademark Security Agreement,
the Super Priority Intercreditor Agreement, and all security agreements, pledge agreements, Mortgages, deeds of trust, collateral assignments,
collateral agency agreements, debentures, control agreements or other grants or transfers for security executed and delivered by the Company
or any Guarantor (including, without limitation, financing statements under the Uniform Commercial Code of the relevant state) creating
(or purporting to create) a Lien (whether or not on Collateral or secured on a basis senior to Priority Lien Debt) in favor of the Super
Priority Collateral Agent or notice of such pledge, grant or assignment is given, in each case, as the same may be amended, restated,
amended and restated, modified, renewed, extended or replaced in any manner in whole or in part from time to time.

 

(b)          Section 1.1
of the Indenture is hereby further amended by amending and restating the following definitions as set forth below:

 

“Notes Documents” means, collectively,
this Indenture, the Notes, the Collateral Agency Agreement and the Security Documents, in each case as the same may be amended, restated,
supplemented, modified, renewed, extended, replaced or refinanced in any manner in whole or in part from time to time.

 

“Security Documents” means the Collateral
Agency Agreement, the ABL Collateral Rights Agreement (as defined in the Collateral Agency Agreement), the Intercreditor Agreement, the
Super Priority Intercreditor Agreement, the Security Agreement and all security agreements, pledge agreements, Mortgages, deeds of trust,
collateral assignments, collateral agency agreements, debentures, control agreements or other grants or transfers for security executed
and delivered by the Company or any Guarantor (including, without limitation, financing statements under the Uniform Commercial Code of
the relevant state) creating (or purporting to create) a Lien upon Collateral in favor of the Collateral Agent or notice of such pledge,
grant or assignment is given, in each case, as the same may be amended, restated, modified, renewed, extended, replaced or refinanced
in any manner in whole or in part from time to time.

 

    3 

     

    

 

(c)          Section 1.1
of the Indenture is further amended by deleting the “and” at the end of clause (16) and the “.” at the end of
clause (17) of the definition of “Permitted Lien” and adding at the end of such clause (17):

 

“; and

 

(18) Liens (whether or not on Collateral or secured on a
basis senior to Priority Lien Debt) securing Indebtedness and other Obligations under the Super Priority Bridge Credit Agreement pursuant
to the Super Priority Bridge Credit Agreement and any Super Priority Security Document (whether or not such Liens are provided to secure
such Indebtedness and other Obligations on the date of the Third Supplemental Indenture or thereafter).

 

4.            Amendment
to Section 3.2 (Limitation on Indebtedness and Preferred Stock) of the Indenture.

 

Section 3.2(b) of the Indenture is amended by deleting
the “and” at the end of clause 3.2(b)(16) and the “.” at the end of clause 3.2(b)(17) and adding at the end of
such clause (b)(17):

 

“; and

 

(18) the incurrence by the Company or any of its Subsidiaries
of Indebtedness under the Super Priority Bridge Credit Agreement in an aggregate principal amount (or accreted value, as applicable) at
any one time outstanding under this clause (18) not to exceed $10.0 million (plus, for the avoidance of doubt, the amount of interest
that is capitalized and added to the principal amount thereunder).”

 

5.            Amendment
to Section 3.4 (Limitation on Restrictions on Distributions from Restricted Subsidiaries) of the Indenture.

 

Section 3.4(b) of the Indenture is amended by deleting
the “and” at the end of clause 3.4(b)(15) and the “.” at the end of clause 3.4(b)(16) and adding at the end of
such clause (b)(16):

 

“; and

 

(17) the Super Priority Bridge Credit Agreement or any Super
Priority Security Documents and any amendments, restatements, modifications, renewals, supplements, refundings, replacements or refinancings
thereof or, if entered into pursuant to the Super Priority Bridge Credit Agreement or any Super Priority Security Document, any agreement
governing other indebtedness existing on the date hereof.”

 

6.            Amendment
to Section 3.8 (Limitation on Affiliate Transactions) of the Indenture.

 

The proviso in Section 3.8 of the Indenture is
amended by deleting the “and” at the end of clause (12) and the “.” at the end of clause (13) and adding at the
end of such clause (13):

 

“; and

 

(14) entering into and performance of any agreement, amendment,
restatement, modification, renewal, supplement, refunding, replacement or refinancing described in Section 3.2(b)(18), and any payment,
disposition, action or transaction in respect thereof.”

 

7.            Governing
Law. THIS THIRD SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW
YORK.

 

8.            Severability
Clause. In case any provision in this Third Supplemental Indenture shall be invalid, illegal or unenforceable, the validity,
legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby and such provision shall
be ineffective only to the extent of such invalidity, illegality or unenforceability.

 

    4 

     

    

 

9.            Ratification
of indenture; supplemental indentures part of indenture. Except as expressly amended hereby, the Indenture is in all respects
ratified and confirmed and all the terms, conditions and provisions thereof shall remain in full force and effect. This Third Supplemental
Indenture shall form a part of the Indenture for all purposes, and every Holder of Notes heretofore or hereafter authenticated and delivered
shall be bound hereby.

 

10.          Counterparts.
The parties hereto may sign one or more copies of this Third Supplemental Indenture in counterparts, all of which together shall constitute
one and the same agreement. The exchange of copies of this Third Supplemental Indenture and related documentation, and of signature pages thereof,
by facsimile, PDF, or DocuSign or other electronic means shall constitute effective execution and delivery of this Third Supplemental
Indenture and related documentation as to the parties hereto and may be used in lieu of the original instrument for all purposes. Signatures
of the parties hereto transmitted by facsimile, PDF or DocuSign, in addition to other electronic means, shall be deemed to be their original
signatures for all purposes and shall be valid and binding on all parties. UMB Bank, N.A., as Trustee and Collateral Agent, may conclusively
rely upon any such signatures in performing its duties hereunder and shall in no instance be liable for any loss or damages resulting
from its reliance upon the same.

 

11.          Effect
of Headings. The headings of the Articles and the sections in this Third Supplemental Indenture are for convenience of reference
only and shall not be deemed to alter or affect the meaning or interpretation of any provisions hereof.

 

12.          Incorporation
of Indenture. All the provisions of this Third Supplemental Indenture shall be deemed to be incorporated in, and made a part
of, the Indenture; and the Indenture, as supplemented and amended by this Third Supplemental Indenture, shall be read, taken and construed
as one and the same instrument.

 

13.          The
Trustee and the Collateral Agent. Each of the Trustee and the Collateral Agent accepts the Amendments set forth in this Third
Supplemental Indenture, but on the terms and conditions set forth in the Indenture, including the terms and provisions defining and limiting
the liabilities and responsibilities of the Trustee and the Collateral Agent. Without limiting the generality of the foregoing, neither
the Trustee nor the Collateral Agent shall be responsible in any manner whatsoever for or with respect to (i) any of the recitals
or statements contained in this Third Supplemental Indenture, (ii) the proper authorization hereof by the Company or the Guarantors
by action or otherwise, (iii) the due execution hereof by the Company or the Guarantors, or (iv) the consequences of any amendment
herein provided for, and each of the Trustee and the Collateral Agent makes no representation with respect to any such matters.

 

[Signature pages follow]

 

    5 

     

    

 

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

 

	 	THE COMPANY
	 	 	 	 
	 	BASIC ENERGY SERVICES, INC.
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Keith
    L. Schilling 
	 	 	Name:	Keith L. Schilling
	 	 	Title:	President and Chief Executive Officer

 

	 	GUARANTORS
	 	 
	 	BASIC ENERGY SERVICES LP, LLC
	 	BASIC ENERGY SERVICES GP, LLC
	 	BASIC ENERGY SERVICES, L.P.
	 	TAYLOR INDUSTRIES, LLC
	 	BASIC ESA, INC.
	 	SCH DISPOSAL, L.L.C.
	 	AGUA LIBRE HOLDCO LLC
	 	AGUA LIBRE ASSET CO LLC
	 	AGUA LIBRE MIDSTREAM LLC
	 	C&J WELL SERVICES, INC.
	 	KVS TRANSPORTATION, INC.
	 	INDIGO INJECTION #3, LLC

 

	 	By:	/s/ Keith
    L. Schilling 
	 	 	Name:	Keith L. Schilling
	 	 	Title:	President and Chief Executive Officer

 

[Signature
Page to Third Supplemental Indenture]

 

     

     

    

 

	 	TRUSTEE
	 	 	 
	 	UMB BANK, N.A., as Trustee
	 	 	 
	 	 	 
	 	By:	/s/ Michael G. Slade
	 	 	Name: Michael G. Slade
	 	 	Title: Senior Vice President
	 	 	 
	 	COLLATERAL AGENT
	 	 	 
	 	UMB BANK, N.A., as Collateral Agent
	 	 	 
	 	 	 
	 	By:	/s/ Michael
    G. Slade
	 	 	Name: Michael G. Slade
	 	 	Title: Senior Vice President

 

[Signature
Page to Third Supplemental Indenture]Exhibit 10.1

 

EXECUTION VERSION

 

Super
Priority CREDIT AGREEMENT

 

Dated as of May 3, 2021

 

among

 

BASIC
ENERGY SERVICES, INC.,

as the Borrower,

 

CANTOR
FITZGERALD SECURITIES,

as Administrative Agent

 

and

 

The Term Loan Lenders Party Hereto

 

     

     

    

 

TABLE OF CONTENTS

 

ARTICLE I

DEFINITIONS AND ACCOUNTING TERMS

 

		1.01	Defined Terms	1
		1.02	Other Interpretive Provisions	25
		1.03	Accounting Terms	25
		1.04	Rounding	26
		1.05	Times of Day	26
		1.06	[Reserved]	26
		1.07	Currency Equivalents Generally	26
		1.08	Uniform Commercial Code	26
		1.09	Divisions	26

 

ARTICLE II

the COMMITMENTS

 

		2.01	The Loans	26
		2.02	Borrowings, Conversions and Continuations of Loans	27
		2.03	[Reserved]	28
		2.04	[Reserved]	28
		2.05	Prepayments	28
		2.06	[Reserved]	29
		2.07	Repayment of Loans	29
		2.08	Interest	29
		2.09	Fees	30
		2.10	Computation of Interest and Fees	30
		2.11	Evidence of Debt	30
		2.12	Payments Generally; Administrative Agent’s Clawback	31
		2.13	Sharing of Payments by Term Loan Lenders	32
		2.14	[Reserved]	33
		2.15	[Reserved]	33
		2.16	Defaulting Lenders	33
		2.17	[Reserved]	33
		2.18	[Reserved]	33

 

ARTICLE III

TAXES, YIELD PROTECTION AND ILLEGALITY

 

		3.01	Taxes	34
		3.02	Illegality	37
		3.03	Inability to Determine Rates	37
		3.04	Increased Costs; Capital Adequacy	40
		3.05	Compensation for Losses	41
		3.06	Mitigation Obligations; Replacement of Lenders	42
		3.07	Survival	42

 

ARTICLE IV

CONDITIONS PRECEDENT

 

		4.01	Conditions to the Closing Date	42

 

    ii 

     

    

 

ARTICLE V

REPRESENTATIONS AND WARRANTIES

 

		5.01	Existence, Qualification and Power	45
		5.02	Authorization; No Contravention	45
		5.03	Governmental Authorization; Other Consents	45
		5.04	Binding Effect	46
		5.05	Financial Statements; No Material Adverse Effect	46
		5.06	Litigation	46
		5.07	No Default	46
		5.08	Ownership of Property; Liens; Investments	46
		5.09	Environmental Compliance	46
		5.10	Insurance	47
		5.11	Taxes	47
		5.12	ERISA Compliance	47
		5.13	Subsidiaries; Equity Interests; Loan Parties	48
		5.14	Margin Regulations; Investment Company Act	48
		5.15	Disclosure	49
		5.16	Compliance with Laws	49
		5.17	Intellectual Property; Licenses, Etc	49
		5.18	[Reserved]	49
		5.19	Casualty, Etc	49
		5.20	Labor Matters	49
		5.21	Collateral Documents	49
		5.22	Sanctions Concerns	49
		5.23	EEA Financial Institutions	49
		5.24	Debt Documents Compliance	50

 

ARTICLE VI

AFFIRMATIVE COVENANTS

 

		6.01	Financial Statements	50
		6.02	Certificates; Other Information	50
		6.03	Notices	52
		6.04	Payment of Taxes	53
		6.05	Preservation of Existence, Etc	53
		6.06	Maintenance of Properties	53
		6.07	Maintenance of Insurance	53
		6.08	Compliance with Laws	53
		6.09	Books and Records	54
		6.10	Inspection Rights	54
		6.11	Use of Proceeds	54
		6.12	Covenant to Guarantee Obligations and Give Security	54
		6.13	Compliance with Environmental Laws	57
		6.14	Preparation of Environmental Reports	57
		6.15	Further Assurances	58
		6.16	Compliance with Terms of Leaseholds	58
		6.17	Material Contracts	58
		6.18	Post-Closing Matters	58
		6.19	Designation of Unrestricted Subsidiaries	58
		6.20	Approved Budget	59
		6.21	Weekly Conference Calls	59
		6.22	Milestones	59

 

    iii 

     

    

 

ARTICLE VII

NEGATIVE COVENANTS

 

		7.01	Liens	60
		7.02	Indebtedness	61
		7.03	Investments	62
		7.04	Fundamental Changes	63
		7.05	Dispositions	63
		7.06	Restricted Payments	63
		7.07	Change in Nature of Business	63
		7.08	Transactions with Affiliates	63
		7.09	Burdensome Agreements	64
		7.10	Use of Proceeds	64
		7.11	Variance Reports Compliance; Professional Fees	64
		7.12	Amendments of Organization Documents	64
		7.13	Accounting Changes	64
		7.14	Prepayments, Etc	64
		7.15	Amendment, Etc	65
		7.16	Sanctions	65

 

ARTICLE VIII

EVENTS OF DEFAULT AND REMEDIES

 

		8.01	Events of Default	65
		8.02	Remedies upon Event of Default	67
		8.03	Application of Funds	67

 

ARTICLE IX

ADMINISTRATIVE AGENT

 

		9.01	Appointment and Authority	68
		9.02	Rights as a Lender	68
		9.03	Exculpatory Provisions	69
		9.04	Reliance by Administrative Agent	70
		9.05	Delegation of Duties	70
		9.06	Resignation of Administrative Agent	70
		9.07	Non-Reliance on Administrative Agent and Other Lenders	71
		9.08	[Reserved]	72
		9.09	Administrative Agent May File Proofs of Claim; Credit Bidding	72
		9.10	Collateral and Guaranty Matters	73
		9.11	Super Priority Intercreditor Agreement	74
		9.12	Certain ERISA Matters	74
		9.13	Erroneous Payments	76

 

    iv 

     

    

 

ARTICLE X

MISCELLANEOUS

 

		10.01	Amendments, Etc	76
		10.02	Notices; Effectiveness; Electronic Communications	78
		10.03	No Waiver; Cumulative Remedies; Enforcement	79
		10.04	Expenses; Indemnity; Damage Waiver	80
		10.05	Payments Set Aside	81
		10.06	Successors and Assigns	82
		10.07	Treatment of Certain Information; Confidentiality	87
		10.08	Right of Setoff	87
		10.09	Interest Rate Limitation	87
		10.10	Counterparts; Integration; Effectiveness	88
		10.11	Survival of Representations and Warranties	88
		10.12	Severability	88
		10.13	Replacement of Lenders	89
		10.14	Governing Law; Jurisdiction; Etc	89
		10.15	Waiver of Jury Trial	90
		10.16	No Advisory or Fiduciary Responsibility	90
		10.17	Electronic Execution of Assignments and Certain Other Documents	90
		10.18	USA PATRIOT Act	91
		10.19	[Reserved]	91
		10.20	Credit Inquiries	91
		10.21	Performance of Borrower’s Obligations	91
		10.22	Waivers by Borrower	91
		10.23	ENTIRE AGREEMENT	92
		10.24	Acknowledgement and Consent to Bail-In of Affected Financial Institutions	92

 

    v 

     

    

 

SCHEDULES

	 	1.01(a)	Commitments and Applicable Percentages
	 	1.01(b)	Guarantors
	 	2.05(c)	Extraordinary Receipts
	 	5.13	Subsidiaries and Other Equity Investments; Loan Parties
	 	6.18	Post-Closing Matters
	 	7.01	Existing Liens
	 	7.02	Existing Indebtedness
	 	7.03	Investments
	 	7.05	Dispositions
	 	7.08	Affiliate Transactions
	 	7.09	Burdensome Agreements
	 	10.02	Administrative Agent’s Office, Certain Addresses for Notices

 

EXHIBITS

	 	Form of
	 	A	Conversion/Continuation Notice
	 	B	Funding Notice
	 	C	Note
	 	D	Compliance Certificate
	 	E-1	Assignment and Assumption
	 	E-2	Affiliated Lender Assignment and Assumption
	 	E-3	Administrative Questionnaire
	 	F	Form of Super Priority Intercreditor Agreement
	 	G	Reserved
	 	H	Reserved
	 	I-1 –I-4	U.S. Tax Compliance Certificates

 

    vi 

     

    

 

 

Super
Priority CREDIT AGREEMENT

 

This
SUPER PRIORITY CREDIT AGREEMENT (“Agreement”) is entered into as of May 3, 2021 among Basic Energy Services, Inc.,
a Delaware corporation (the “Borrower”), each Term Loan lender from time to time party hereto (collectively, the “Term
Loan Lenders” and individually, a “Term Loan Lender”), and Cantor Fitzgerald Securities, as Administrative
Agent.

 

PRELIMINARY
STATEMENTS:

 

The
Borrower has requested that the Term Loan Lenders extend credit in the form of Term Loans in an aggregate principal amount of $10,000,000.

 

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:

 

“ABL
Administrative Agent” means Bank of America, N.A., as administrative agent under the ABL Credit Agreement, or any successor
administrative agent.

 

“ABL
Collateral” has the meaning assigned such term in the Security Agreement.

 

“ABL
Credit Agreement” has the meaning assigned such term in the definition of ABL Facility.

 

“ABL
Facility” means the revolving credit facility provided pursuant to that certain ABL Credit Agreement, dated October 2,
2018 (as amended by that certain Limited Consent and First Amendment to ABL Credit Agreement dated as of March 9, 2020, as further
amended by that certain Second Amendment to ABL Credit Agreement dated as of June 15, 2020, as further amended by that certain Third
Amendment to ABL Credit Agreement dated as of October 14, 2020, the “ABL Credit Agreement”) by and among the
Borrower, the lenders from time to time party thereto and the ABL Administrative Agent, as amended, restated, amended and restated, supplemented
or otherwise modified as permitted by this Agreement.

 

“ABL
Forbearance Agreement” means that certain forbearance agreement, dated as of April 14, 2021, among the ABL Administrative
Agent, the Borrower, certain of the Borrower’s Subsidiaries and the Required Lenders (as defined in the ABL Credit Agreement),
as in effect on the date hereof and as amended by the Closing Date ABL Amendment (or as amended, restated, amended and restated, supplemented
or otherwise modified as permitted by this Agreement).

 

“ABL
Loan Document” means the “Loan Documents” as defined in the ABL Credit Agreement.

 

“Actual
Cash Receipts” means with respect to any period, the actual amount that corresponds to the line item “Total Operating
Receipts” as determined by reference to the Approved Budget as then in effect.

 

“Acquisition”
means the acquisition, directly or indirectly, by any Person of (a) at least a majority of the Equity Interests of another Person,
(b) all or substantially all of the assets of another Person or (c) all or substantially all of a line of business or division
of another Person, in each case (i) whether or not involving a merger or a consolidation with such other Person and (ii) whether
in one transaction or a series of related transactions.

 

     

     

    

 

“Actual
Debtor Professional Fee Amounts” means, with respect to any period, the actual amount of “Debtor Professional Fees”
described in the supporting materials provided with the Approved Budget as then in effect.

 

“Actual
Operating Disbursement Amounts” means with respect to any period, the actual amount that corresponds to the line item “Total
Operational Disbursements” in the Approved Budget as then in effect.

 

“Ad
Hoc Group of Term Loan Lenders” means, collectively, all existing Term Loan Lenders (and any of their Affiliates) that were
represented by the Specified Lender Advisors and identified to the Administrative Agent as of the Closing Date (and each individually,
an “Ad Hoc Group Term Loan Lender”).

 

“Administrative
Agent” means Cantor Fitzgerald Securities in its capacity as administrative agent and collateral agent under any of the Loan
Documents, or any successor administrative agent and collateral agent.

 

“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 Term Loan
Lenders.

 

“Administrative
Questionnaire” means an Administrative Questionnaire in substantially the form of Exhibit E-3 or any other form
approved by the Administrative Agent.

 

“Affected
Financial Institution” means (a) any EEA Financial Institution or (b) any UK Financial Institution.

 

“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.

 

“Affiliated
Lender” means (i) Ascribe or any of its Affiliates and (ii) any Term Loan Lender that is an Affiliate of the Borrower
or any of its Subsidiaries, in each case other than the Borrower or any of its Subsidiaries.

 

“Affiliated
Lender Assignment and Assumption” means an Affiliated Lender Assignment and Assumption substantially in the form of Exhibit E-2.

 

“Agency
Fee Letter” means, that certain fee letter, dated as of the Closing Date, between the Borrower and the Administrative Agent.

 

“Agent
Parties” has the meaning specified in Section 10.02(c).

 

“Agreement”
means this Super Priority Credit Agreement.

 

“Anti-Terrorism
Law” means any law relating to terrorism or money laundering, including the Patriot Act.

 

“Applicable
Percentage” means, with respect to any Term Loan Lender at any time, the percentage (carried out to the ninth decimal place)
of the Commitments represented by (i) such Term Loan Lender’s Commitment at such time and (ii) after the funding of the
Term Loans, the principal amount of such Term Loan Lender’s Loans, subject to adjustment as provided in Section 2.16.
The initial Applicable Percentage of each Term Loan Lender is set forth opposite the name of such Term Loan Lender on Schedule 1.01
or in the Assignment and Assumption pursuant to which such Term Loan Lender becomes a party hereto, as applicable.

 

“Applicable
Rate” means 10.0% per annum for Base Rate Loans and 11.0% per annum for LIBOR Loans.

 

    -2- 

     

    

 

“Approved
Budget” shall mean the then most current budget prepared by the Borrower and approved by the Required Lenders in accordance
with Section 6.20.

 

“Approved
Budget Variance Report” shall mean a report provided by the Borrower to the Administrative Agent and the Term Loan Lender Advisors
(a) showing, in each case, on a line item by line item and a cumulative basis, the Actual Cash Receipts, the Actual Operating Disbursement
Amounts and the Actual Debtor Professional Fee Amounts as of the last day of the Variance Testing Period then most recently ended, noting
therein (i) all variances, on a cumulative basis, from the Budgeted Cash Receipts, the Budgeted Operating Disbursement Amounts and
the Budgeted Debtor Professional Fee Amounts for such period as set forth in the Approved Budget as in effect for such period and (ii) containing
an indication as to whether each variance is temporary or permanent and analysis and explanations for all material variances, (iii) certifying
compliance or non-compliance in such Variance Testing Period with the Permitted Variances and (iv) including explanations for all
material variances and violations, if any, of such covenant and if any such violation exists, setting forth the actions which the Borrower
has taken or intend to take with respect thereto and (b) which such reports shall contain supporting information, satisfactory to
the Required Lenders in their sole discretion (which satisfaction may be communicated via email by any of the Specified Lender Advisors).

 

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

 

“Ascribe”
means Ascribe III Investments LLC, a Delaware limited liability company.

 

“Ascribe
Consent Letter” means that certain letter, dated as of the Closing Date, by Ascribe and acknowledged by the Administrative
Agent, which shall be in form and substance satisfactory to the Ad Hoc Group of Term Loan Lenders, and which shall permit the entry into
this Agreement, the Super Priority Intercreditor Agreement, and all the transactions contemplated hereby and thereby, as amended, restated,
amended and restated supplemented, or otherwise modified as permitted by this Agreement.

 

“Assignment
and Assumption” means an assignment and assumption entered into by a Term Loan Lender (other than an Affiliated Lender) and
an Eligible 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 E-1 or any other form (including an electronic documentation form generated by
use of an electronic platform) approved by the Administrative Agent.

 

“Attributable
Indebtedness” means, on any date, (a) in respect of any Capitalized 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, (b) in respect of any Synthetic
Lease Obligation, the capitalized amount of the remaining lease or similar payments under the relevant lease or other applicable agreement
or instrument that would appear on a balance sheet of such Person prepared as of such date in accordance with GAAP if such lease or other
agreement or instrument were accounted for as a Capitalized Lease and (c) all Synthetic Debt of such Person.

 

“Audited
Financial Statements” means the audited consolidated balance sheet of the Borrower and its Subsidiaries for the fiscal year
ended December 31, 2020, 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.

 

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

 

    -3- 

     

    

 

“Bail-In
Legislation” means (a) 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, regulation rule or requirement for such
EEA Member Country from time to time which is described in the EU Bail-In Legislation Schedule and (b) with respect to the United
Kingdom, Part I of the United Kingdom Banking Act 2009 (as amended from time to time) and any other law, regulation or rule applicable
in the United Kingdom relating to the resolution of unsound or failing banks, investment firms or other financial institutions or their
affiliates (other than through liquidation, administration or other insolvency proceedings).

 

“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 Prime Rate, and (c) LIBOR for a 30 day interest period as of such day plus 1.00%; provided that
in no event shall the Base Rate be less than zero.

 

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

 

“Beneficial
Ownership Certification” means a certification regarding beneficial ownership as required by the Beneficial Ownership Regulation,
in form and substance satisfactory to Administrative Agent.

 

“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”.

 

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

 

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

 

“Borrower
Competitor” means any Person that competes with the business of the Borrower or any of its Subsidiaries or any of their respective
known Affiliates or Affiliates identified in writing to the Administrative Agent from time to time or otherwise readily identifiable
as such by name.

 

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

 

“Borrower
Notice” has the meaning specified in Section 6.12(f)(v).

 

“Borrowing”
means Term Loans of the same Type, made, converted, or continued on the same date and, in the case of LIBOR Loans, as to which a single
Interest Period is in effect.

 

“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 is located and, if such day relates to any LIBOR
Loan, means any such day that is also a London Banking Day.

 

“Budgeted
Debtor Professional Fee Amounts” means, with respect to any period, the amount of “Debtor Professional Fees” described
in the supporting materials provided with the Approved Budget as then in effect.

 

“Budgeted
Cash Receipts” means with respect to any period, the amount that corresponds to the line item “Total Operating Receipts”
in the Approved Budget, as then in effect.

 

“Budgeted
Operating Disbursement Amounts” shall mean with respect to any period, the amount that corresponds to the line item “Total
Operational Disbursements” in the Approved Budget.

 

    -4- 

     

    

 

“C&J
Acquisition Agreement” means that certain Purchase Agreement dated as of March 9, 2020, by and among the Borrower, Ascribe,
NexTier Holding Co., a Delaware corporation and C&J Well Services Inc., a Delaware corporation
and the related documents contemplated thereby.

 

“Capital
Lease Obligations” means, at the time any determination thereof is to be made, the amount of the liability in respect of one
or more Capital Leases that would at such time be required to be capitalized on a balance sheet in accordance with GAAP, and the stated
maturity thereof shall be the date of the last payment of rent or any other amount due under such lease prior to the first date upon
which such lease may be prepaid by the lessee without payment of a penalty. Notwithstanding the foregoing, any lease (whether entered
into before or after the Issue Date) that would have been classified as an operating lease pursuant to GAAP as in effect on the issue
date of the Senior Notes will be deemed not to represent a Capital Lease Obligation.

 

“Capitalized
Leases” means all leases that have been or should be, in accordance with GAAP, recorded as capitalized leases.

 

“Cash
Equivalents” means any of the following types of Investments, to the extent owned by the Borrower or any of its Restricted
Subsidiaries free and clear of all Liens (other than Liens created under the Collateral Documents and other Liens permitted hereunder):

 

(a)            readily
marketable obligations issued or directly and fully guaranteed or insured by the United States of America or any agency or instrumentality
thereof having maturities of not more than 360 days from the date of acquisition thereof; provided that the full faith and credit
of the United States of America is pledged in support thereof;

 

(b)            time
deposits with, or insured certificates of deposit or bankers’ acceptances of, any commercial bank that (i) (A) is a Lender
or (B) is organized under the laws of the United States of America, any state thereof or the District of Columbia or is the principal
banking subsidiary of a bank holding company organized under the laws of the United States of America, any state thereof or the District
of Columbia, and is a member of the Federal Reserve System, (ii) issues (or the parent of which issues) commercial paper rated as
described in clause (c) of this definition and (iii) has combined capital and surplus of at least $1,000,000,000, in each case
with maturities of not more than 180 days from the date of acquisition thereof;

 

(c)            commercial
paper issued by any Person organized under the laws of any state of the United States of America and rated at least “Prime-1”
(or the then equivalent grade) by Moody’s or at least “A-1” (or the then equivalent grade) by S&P,
in each case with maturities of not more than 180 days from the date of acquisition thereof; and

 

(d)            Investments,
classified in accordance with GAAP as current assets of the Borrower or any of its Restricted Subsidiaries, in money market investment
programs registered under the Investment Company Act of 1940, which are administered by financial institutions that have the highest
rating obtainable from either Moody’s or S&P, and the portfolios of which are comprised of least 95% of Investments of the
character, quality and maturity described in clauses (a), (b) and (c) of this definition.

 

“CERCLA”
means the Comprehensive Environmental Response Compensation and Liability Act (42 U.S.C. § 9601 et seq.).

 

“CFC”
means a Person that is a controlled foreign corporation under Section 957 of the Code.

 

“Change
in Law” means the occurrence, after the Closing Date, 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, guideline or directive
(whether or not having the force of law) by any Governmental Authority, provided that notwithstanding anything herein to the contrary,
(i) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines, or directives thereunder
or issued in connection therewith and (ii) 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 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 or issued.

 

    -5- 

     

    

 

“Change
of Control” means an event or series of events by which a “change of control” or any comparable term under, and
as defined in, any of the Senior Notes Documents, the March 2020 Note, the Second Lien Note and/or the ABL Credit Agreement.

 

“Chapter
11 Cases” has the meaning specified in Section 6.22(d).

 

“Chapter
11 Filing” has the meaning specified in Section 6.22(e).

 

“Claims
Pool” has the meaning specified in Section 6.22(d).

 

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

 

“Closing
Date ABL Amendment” means that certain amendment to the ABL Credit Agreement and the ABL Forbearance, dated as of the Closing
Date, among the Borrower, the lenders holding at least a majority of the commitments under the ABL Facility, and the ABL Administrative
Agent, which shall be in form and substance satisfactory to each of the Term Loan Lenders, as amended, restated, amended and restated,
supplemented or otherwise modified as permitted by this Agreement.

 

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

 

“Collateral”
means all of the “Collateral” referred to in the Collateral Documents and all of the other property that is or is
intended under the terms of the Collateral Documents to be subject to Liens in favor of the Administrative Agent for the benefit of the
Secured Parties.

 

“Collateral
Account” has the meaning set forth in the Security Agreement.

 

“Collateral
Documents” means, collectively, the Security Agreement, Security Agreement Supplements, security agreements, pledge agreements,
Mortgages, deeds of trust, intellectual property security agreements, or other similar agreements delivered to the Administrative Agent
pursuant to Section 4.01 and Section 6.12, and each of the other agreements, instruments or documents that creates
or purports to create a Lien in favor of the Administrative Agent for the benefit of the Secured Parties.

 

“Commitment”
means, as to each Term Loan Lender, the commitment, if any, of such Term Loan Lender to make a Loan hereunder on the Closing Date expressed
as an amount representing the maximum principal amount of the Loan to be made by such Term Loan Lender hereunder. The amount of each
Term Loan Lender’s Commitment as of the Closing Date is set forth on Schedule 1.01 under the caption “Commitment”
or opposite such caption in the Assignment and Assumption pursuant to which such Term Loan Lender becomes a party hereto, as applicable,
as such amount may be adjusted from time to time in accordance with this Agreement. The aggregate principal amount of the Commitment
on the Closing Date is $10,000,000. Once funded on the Closing Date, the Commitments shall be reduced to zero and be terminated.

 

“Communication”
has the meaning specified in Section 10.17.

 

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

 

    -6- 

     

    

 

“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.

 

“Consolidated
Tangible Assets” means, with respect to any Person as of any date, the amount which, in accordance with GAAP, would be set
forth under the caption “Total Assets” (or any like caption) on a consolidated balance sheet of such Person and its consolidated
Subsidiaries, less all 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.

 

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

 

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

 

“Covered
Entity” means (a) a “covered entity”, as defined and interpreted in accordance with 12 C.F.R. §252.82(b);
(b) a “covered bank”, as defined in and interpreted in accordance with 12 C.F.R. §47.3(b); or (c) a “covered
FSI”, as defined in and interpreted in accordance with 12 C.F.R. §382.2(b).

 

“Covered
Party” has the meaning set forth in Section 10.25.

 

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

 

“Conversion/Continuation
Notice” means a notice of (a) a conversion of Loans from one Type to the other, or (c) a continuation of LIBOR 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 and the Borrower (including any form on an electronic platform or electronic transmission
system, including electronic mail, as shall be approved by the Administrative Agent), appropriately completed and signed by a Responsible
Officer of the Borrower.

 

“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.

 

“Declined
Amounts” has the meaning specified in Section 2.05(g).

 

“Declining
Lender” has the meaning specified in Section 2.05(g).

 

“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 when used with respect to Obligations an interest rate equal to (i) the Base Rate plus (ii) the
Applicable Rate applicable to Base Rate Loans plus (iii) 2% per annum; provided, however, that with respect
to a LIBOR 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.

 

“Default
Right” shall have 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.

 

    -7- 

     

    

 

“Defaulting
Lender” means, subject to Section 2.16(b), any Term Loan Lender that (a) has failed to (i) fund all or
any portion of its Loans within two (2) Business Days of the date such Loans were required to be funded hereunder unless such Term
Loan Lender notifies the Administrative Agent and the Borrower in writing that such failure is the result of such Term Loan 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 or any other Term
Loan Lender any other amount required to be paid by it within two (2) Business Days of the date when due, (b) has notified
the Borrower, the Administrative Agent in writing that it does not intend to comply with its funding obligations hereunder, or has made
a public statement to that effect (unless such writing or public statement relates to such Term Loan Lender’s obligation to fund
a Loan hereunder and states that such position is based on such Term Loan 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 (3) Business Days after written request by the Administrative
Agent or the Borrower, to confirm in writing to the Administrative Agent and the Borrower that it will comply with its prospective funding
obligations hereunder (provided that such Term Loan 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, (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) becomes subject of a Bail-In Action; provided that a Term Loan Lender shall not be a
Defaulting Lender solely by virtue of the ownership or acquisition of any Equity Interest in that Term Loan 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 Term Loan 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 Term Loan Lender (or such Governmental Authority) to reject, repudiate, disavow or disaffirm any contracts
or agreements made with such Term Loan Lender. Any determination by the Administrative Agent that a Term Loan Lender is a Defaulting
Lender under any one or more of clauses (a) through (d) above, and the effective date of such status, shall be conclusive and
binding absent manifest error, and such Term Loan Lender shall be deemed to be a Defaulting Lender (subject to Section 2.16(b))
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 and each other Term Loan Lender promptly following such determination.

 

“Designated
Jurisdiction” means any country or territory that is the target of a Sanction.

 

“Disqualified
Capital Stock” means any Equity Interest which, by its terms (or by the terms of any security into which it is convertible
or for which it is exchangeable), or upon the happening of any event, (a) matures (excluding any maturity as the result of an optional
redemption by the issuer thereof) or is mandatorily redeemable for any consideration other than solely an Equity Interest in such Person
(which would constitute Qualified Capital Stock), pursuant to a sinking fund obligation or otherwise, or is redeemable at the option
of the holder thereof for any consideration other than solely an Equity Interest in such Person (which would constitute Qualified Capital
Stock) at the option of the holder thereof, in whole or in part on or prior to the date that is 181 days after the earlier of the Maturity
Date and payment in full of the Obligations, (b) is convertible into or exchangeable (unless at the sole option of the issuer thereof)
for (i) debt securities or (ii) any Equity Interests referred to in (a) above, or (c) contains any repurchase obligation
on or prior to the date that is 181 days after the earlier of the Maturity Date and payment in full of the Obligations.

 

“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.

 

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

 

    -8- 

     

    

 

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

 

“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 an EEA Member Country (including any delegee) having responsibility for the resolution of any EEA Financial Institution.

 

“Electronic
Copy” has the meaning specified in Section 10.17.

 

“Electronic
Record” has the meaning specified in Section 10.17.

 

“Electronic
Signature” has the meaning specified in Section 10.17.

 

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

 

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

 

“Environmental
Permit” means any permit, approval, identification number, license or other authorization required under any Environmental
Law.

 

“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 (provided, however, that debt securities that are or by their terms may be convertible
or exchangeable into or for Equity Interests shall not constitute Equity Interests prior to conversion or exchange thereof).

 

    -9- 

     

    

 

“Equity
Proceeds” means cash proceeds from the issuance of Qualified Capital Stock.

 

“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 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; (d) the filing of a notice of intent to terminate, 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.

 

“Erroneous
Payment” has the meaning assigned to it in Section 9.13(a).

 

“Erroneous
Payment Notice” has the meaning assigned to it in Section 9.13(b).

 

“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.

 

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

 

“Excluded
Property” means:

 

(a)            ABL
Collateral;

 

(b)            any
real property that is not Material Real Property;

 

(c)            any
lease, license, permit, agreement or instrument that would otherwise constitute Collateral (referred to solely for purpose of this paragraph
as a “Contract”), in each case in existence on the Closing Date or upon acquisition of the relevant Guarantor party
thereto, to the extent that a grant of a security interest therein would violate or invalidate such Contract or create a right of termination
in favor of any other party thereto or otherwise require consent thereunder (in each case, other than to the extent that any such term
would be rendered ineffective pursuant to Sections 9-406, 9-407, 9-408 or 9-409 of the Uniform Commercial Code (or any successor provision
or provisions) of any relevant jurisdiction or any other applicable law (including the Bankruptcy Code) or principles of equity and only
so long as such prohibition or consent requirement was not created in contemplation or anticipation of the Collateral requirements under
this Agreement and remains in effect); provided that: (x) rights to payment under any such Contract otherwise constituting
Excluded Property shall be included in the Collateral to the extent permitted under such Contract or by Section 9-406 or Section 9-408
of the Uniform Commercial Code and (y)  all proceeds paid or payable to the Borrower or any Guarantor from any sale, transfer or
assignment of such Contract and all rights to receive such proceeds shall be included in the Collateral;

 

(d)            [Reserved];

 

    -10- 

     

    

 

(e)            any
property which is subject to a Capital Lease Obligation, purchase money obligation or other debt obligation if and to the extent that
(i) such Capital Lease Obligation, purchase money obligation or other debt obligation was incurred pursuant to Section 7.2(f) and
the agreements or documents granting or governing such Capital Lease Obligation, purchase money obligation or other debt obligation validly
prohibit, or otherwise require any consent (but only so long as such prohibition or consent requirement was not created in contemplation
or anticipation of the Collateral requirements under this Agreements and remain outstanding, and in each case after giving effect to
Sections 9-406, 9-407, 9-408 or 9-409 of the Uniform Commercial Code (or any successor provision or provisions) of any relevant jurisdiction
or any other applicable law (including the Bankruptcy Code) or principles of equity) and (ii) such restriction described in clause
(i) above relates only to the asset or assets acquired by the Borrower or any Guarantor and attachments and accessions thereto,
improvements thereof or substitutions therefor; provided that all proceeds paid or payable to the Borrower or any Guarantor from
any sale, transfer or assignment or other voluntary or involuntary disposition of such assets and all rights to receive such proceeds
shall be included in the Collateral to the extent not otherwise required to be paid to the holder of such Capital Lease Obligations,
purchase money obligations or other debt obligations secured by such assets;

 

(f)            any
asset in which a pledge or security interest is prohibited by applicable law, rule or regulation (other than to the extent that
any such prohibition would be rendered ineffective pursuant to Sections 9-406, 9-407, 9-408 or 9-409 of the Uniform Commercial Code (or
any successor provision or provisions) or any other applicable law (including the Bankruptcy Code));

 

(g)            [reserved];

 

(h)            any
intent-to-use trademark application prior to the filing of a “Statement of Use” or “Amendment to Allege Use”
with respect thereto, to the extent, if any, that, and solely during the period, if any, in which, the grant of a security interest therein
would impair the validity or enforceability of such intent-to-use trademark application under applicable federal law;

 

(i)            any
governmental licenses or state or local franchises, charters and authorizations to the extent the granting of security interests therein
are prohibited or restricted thereby (after giving effect to Sections 9-406, 9-407, 9-408 or 9-409 of the Uniform Commercial Code (or
any successor provision or provisions) of any relevant jurisdiction or any other applicable law (including the Bankruptcy Code); and

 

(j)            any
letter of credit rights to the extent a Lien thereon cannot be perfected by the filing of a financing statement under the Uniform Commercial
Code.

 

Notwithstanding
the foregoing, other than as provided in clause (a) above, no property that constitutes collateral under any of the Senior
Notes, the other Senior Notes Documents and the March 2020 Note shall constitute Excluded Property.

 

In
addition, Excluded Property shall include any “Building” (as defined in 39 C.F.R. §339.2, as such may be amended from
time to time) owned by the Borrower or any Guarantor that constitutes Material Real Property unless and until the Administrative Agent
(acting at the direction of the Required Lenders) (i) shall have received Flood Documentation, (ii) determined (at the direction
of the Required Lenders) that it is not Flood Hazard Property or (C) determined is otherwise not subject to the Federal Emergency
Management Agency’s flood insurance requirement.

 

“Excluded
Taxes” means, with respect to any 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), 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 Term Loan Lender, its applicable 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, any United
States federal withholding Tax that is imposed on amounts payable to or for the account of such Term Loan Lender pursuant to the Laws
in effect on the date on which (i) such Term Loan Lender acquires an interest in the Loan or Commitment (other than pursuant to
an assignment request by the Borrower under Section 10.13), or (ii) such Term Loan Lender designates a new Lending Office,
except to the extent that such Term Loan 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),
(c) Taxes attributable to such Recipient’s failure to comply with Section 3.01(e), and (d) any U.S. federal
withholding Taxes imposed by FATCA.

 

    -11- 

     

    

 

“Extraordinary
Receipts” means an amount equal to (a) any cash payments or proceeds (including permitted Investments) received (directly
or indirectly) by or on behalf of the Borrower or any of its Subsidiaries not in the ordinary course of business and not consisting of
Net Cash Proceeds described in Section 2.05(b) in respect of (i) insurance proceeds in connection with a casualty
event, (ii) foreign, United States, state or local tax refunds, (iii) pension plan reversions, (iv) judgments, proceeds
of settlements or other consideration of any kind in connection with any cause of action (other than receipts from settlements with customers),
(v) indemnity payments (other than to the extent such indemnity payments are (A) immediately payable to a Person that is not
an Affiliate of the Borrower or any of its Subsidiaries or (B) received by the Borrower or its Subsidiaries as reimbursement for
any payment previously made to such Person) and (vi) any purchase price adjustment received in connection with any purchase agreement
to the extent not constituting Net Cash Proceeds, minus (b) (A) any selling and settlement costs and out-of-pocket expenses
(including reasonable broker’s fees or commissions and legal fees) and any taxes paid or reasonably estimated to be payable by
the Borrower or any of its Subsidiaries (after taking into account any tax credits or deductions actually realized by the Borrower or
any of its Subsidiaries with respect to the transactions described in clause (a) of this definition) in connection with the transactions
described in clause (a) of this definition, and (B) for purposes of determining Extraordinary Receipts under Section 2.05,
any funding loss expenses incurred by the Borrower under Section 3.05 as a result of a mandatory prepayment required by Section 2.05.

 

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

 

“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, (a) the weighted average per annum interest rate on overnight federal funds transactions
with members of the Federal Reserve System on the applicable day (or the preceding Business Day, if the applicable day is not a Business
Day), as published by the Federal Reserve Bank of New York on the next Business Day; or (b) if the rate is not so published, the
average per annum rate (rounded up to the nearest 1/8 of 1%) a national banking institution on the applicable day on such transactions,
as determined by the Administrative Agent; provided, that in no event shall the Federal Funds Rate be less than zero.

 

“Fee
Letters” means, individually or collectively, as the context may require, the Agency Fee Letter and the Lender Fee Letter.

 

“Flood
Documentation” means, with respect to each parcel of real property and located in the United States of America or any territory
thereof, the documents described in Section 6.12(f)(v).

 

“Flood
Hazard Property” means any improved real property that is in an area designated by the Federal Emergency Management Agency
as having special flood hazards.

 

    -12- 

     

    

 

“Flood
Insurance Laws” means, collectively, (i) the National Flood Insurance Reform Act of 1994 (which comprehensively revised
the National Flood Insurance Act of 1968 and the Flood Disaster Protection Act of 1973) as now or hereafter in effect or any successor
statute thereto, (ii) the Flood Insurance Reform Act of 2004 as now or hereafter in effect or any successor statute thereto and
(iii) the Biggert-Waters Flood Insurance Reform Act of 2012 as now or hereafter in effect or any successor statute thereto.

 

“Foreign
Lender” means any Term Loan Lender that is not a U.S. Person.

 

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

 

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

 

“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.

 

“Funding
Notice” means a notice substantially in the form of Exhibit B.

 

“GAAP”
means generally accepted accounting principles in the United States set forth from time to time 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 agencies with similar functions of comparable stature and authority within the accounting profession)
including, without limitation, the FASB ASC, that are applicable to the circumstances as of the date of determination, consistently applied
and subject to Section 1.03.

 

“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 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 (or any right, contingent or otherwise, of any holder
of such Indebtedness to obtain any such Lien). The amount of any Guarantee shall be deemed to be an amount equal to the stated or determinable
amount of the related primary obligation, or portion thereof, in respect of which such Guarantee is made or, if not stated or determinable,
the maximum reasonably anticipated liability in respect thereof as determined by the guaranteeing Person in good faith. The term “Guarantee”
as a verb has a corresponding meaning.

 

“Guarantors”
means, collectively, (a) the Domestic Subsidiaries of the Borrower listed on Schedule 101(b) and each other Domestic
Subsidiary of the Borrower that shall be required to execute and deliver a guaranty or guaranty supplement pursuant to Section 6.12
and (b) each Subsidiary of the Borrower (including each Foreign Subsidiary) that is guarantor or obligor under any of the Senior
Notes, the other Senior Notes Documents, the ABL Facility, the March 2020 Note, the Second Lien Note or any other Indebtedness.

 

    -13- 

     

    

 

“Guaranty”
means the Guaranty made by the Guarantors in favor of the Secured Parties, together with each other guaranty and guaranty supplement
delivered pursuant to Section 6.12.

 

“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.

 

“Immaterial
Domestic Subsidiary” means Basic Energy Services International LLC; provided that Basic Energy Services International
LLC shall no longer constitute an Immaterial Domestic Subsidiary if either (i) it owns net assets that have an aggregate fair market
value of equal to or greater than 0.25% of Consolidated Tangible Assets of the Borrower as of the end of the fiscal quarter most recently
ended or generates revenue that is greater than 0.25% of the consolidated revenue of the Borrower and its Subsidiaries or (ii) it
is or becomes a guarantor or obligor under any of the Senior Notes, the other Senior Notes Documents, the ABL Facility, the March 2020
Note, the Second Lien Note or any other Indebtedness.

 

“Indebtedness”
means, as to any Person at a particular time, without duplication, all of the following, whether or not included as indebtedness or liabilities
in accordance with GAAP:

 

(a)            all
obligations of such Person for borrowed money and all obligations of such Person evidenced by bonds, debentures, notes, loan agreements
or other similar instruments;

 

(b)            the
maximum amount of all direct or contingent obligations of such Person arising under letters of credit (including standby and commercial),
bankers’ acceptances, bank guaranties, surety bonds and similar instruments;

 

(c)            net
obligations of such Person under any swap contract;

 

(d)            all
obligations of such Person to pay the deferred purchase price of property or services (other than trade accounts payable in the ordinary
course of business and not past due for more than 90 days after the date on which such trade account was created);

 

(e)            indebtedness
(excluding prepaid interest thereon) secured by a Lien on property owned or being purchased by such Person (including indebtedness arising
under conditional sales or other title retention agreements), whether or not such indebtedness shall have been assumed by such Person
or is limited in recourse; provided that, if such indebtedness is limited in recourse, then the amount of such indebtedness for
purposes of this Agreement will not exceed the fair market value of such property;

 

(f)            all
Attributable Indebtedness with respect to Capitalized Leases and Synthetic Lease Obligations of such Person and all Synthetic Debt of
such Person;

 

(g)            all
Disqualified Capital Stock; and

 

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

 

(i)            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.

 

“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 the Borrower under any Loan Document and (b) to the extent not otherwise described in (a), Other Taxes.

 

    -14- 

     

    

 

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

 

“Information”
has the meaning specified in Section 10.07.

 

“Initial
Approved Budget” shall mean the Approved Budget delivered to the Administrative Agent and the Term Loan Lender Advisors on
the Closing Date.

 

“Insolvency
Proceeding” means any case or proceeding commenced by or against a Person under any state, federal or foreign law for, or any
agreement of such Person to, (a) the entry of an order for relief under the Bankruptcy Code of the United States, or any other insolvency,
debtor relief or debt adjustment law; (b) the appointment of a receiver, trustee, liquidator, administrator, conservator or other
custodian for such Person or any part of its property; or (c) an assignment or trust mortgage for the benefit of creditors.

 

“Intercreditor
Agreements” means, individually or collectively, as the context may require, (i) the Super Priority Intercreditor Agreement
and (ii) the intercreditor agreement in substantially the form attached to the Collateral Rights Agreement, with such changes therefrom
as may be agreed to by the Required Lenders and the Borrower or as are contemplated by Section 10.01.

 

“Interest
Payment Date” means, (a) as to any LIBOR Loan, the last day of each Interest Period applicable to such Loan and the Maturity
Date and (b) as to any Base Rate Loan, the first day of each month and the Maturity Date.

 

“Interest
Period” means, as to each LIBOR Loan, the period commencing on the date such LIBOR Loan is disbursed or converted to or continued
as a LIBOR Loan and ending on the date one month thereafter or such shorter period as agreed by the Required Lenders (in each case, subject
to availability), as selected by the Borrower in its Funding 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.

 

“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 Interests of another Person, (b) a loan, advance or capital contribution to, Guarantee or assumption
of debt of, or purchase or other acquisition of any other debt or interest in, another Person, or (c) an Acquisition. 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.

 

“IP
Rights” has the meaning specified in Section 5.17.

 

“IRS”
means the United States Internal Revenue Service.

 

“ISDA
Definitions” means the 2006 ISDA Definitions published by the International Swaps and Derivatives Association, Inc. or
any successor thereto, as amended or supplemented from time to time, or any successor definitional booklet for interest rate derivatives
published from time to time by the International Swaps and Derivatives Association, Inc. or such successor thereto.

 

    -15- 

     

    

 

“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.

 

“Lender
Fee Letter” means that certain fee letter, dated as of the Closing Date, among the Borrower and the Term Loan Lenders.

 

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

 

“LIBOR”
means the per annum rate of interest (rounded up to the nearest 1/8th of 1%) determined by the Administrative Agent at or about 11:00
a.m. (London time) two Business Days prior to an Interest Period, for a term equivalent to such period, equal to the London interbank
offered rate, or comparable or successor rate approved by the Administrative Agent (acting at the direction of the Required Lenders),
as published on the applicable Reuters screen page (or other commercially available source designated by the Administrative Agent
from time to time, including IHS Markit WSO); provided that any comparable or successor rate shall be determined in accordance
with Section 3.03 and applied by the Administrative Agent, if administratively feasible, in a manner consistent with market
practice; provided further, that in no event shall LIBOR be less than zero.

 

“LIBOR
Loan” means a Loan that bears interest based on LIBOR or each set of Loans bearing interest based on LIBOR having a common
length and commencement of Interest Period, as context requires.

 

“LIBOR
Replacement Date” has the meaning specified in Section 3.03(b).

 

“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 including IHS Markit WSO).

 

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

 

“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 technical,
administrative or operational matters (including, for the avoidance of doubt, the definition of Business Day, timing of borrowing requests
or prepayment, conversion or continuation notices and length of lookback periods) as may be appropriate, in the discretion of the Required
Lenders, to reflect the adoption and implementation 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 or Required Lenders determine 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 or the Required Lenders determine is reasonably
necessary in connection with the administration of this Agreement and any other Loan Document).

 

“Lien”
means, with respect to any asset, any mortgage, lien (statutory or otherwise), pledge, license, hypothecation, charge, security interest
or encumbrance of any kind in respect of such asset, regardless of whether filed, recorded or otherwise perfected under applicable law,
including (i) any conditional sale or other title retention agreement, (ii) any lease in the nature thereof, (iii) any
option or other agreement to sell or give a security interest, (iv) any filing, authorized by or on behalf of the relevant grantor,
of any financing statement under the UCC (or equivalent statutes) of any jurisdiction and (v) any obligation under any joint venture
agreement to transfer all or a portion of the shares or assets of such joint venture upon the occurrence of a default or event of default
under any Indebtedness.

 

    -16- 

     

    

 

 

“Loan”
means a Term Loan.

 

“Loan Documents”
means, collectively, (a) this Agreement, (b) the Notes, (c) the Guaranty, (d) the Intercreditor Agreements, (e) the
Collateral Documents and (f) the Fee Letters.

 

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

 

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

 

“Make-Whole Payment”
shall have the meaning set forth in the C&J Acquisition Agreement.

 

“March 2020
Note” means that certain Senior Secured Promissory Note, dated as of March 9, 2020, executed by the Borrower and payable
to Ascribe, and guaranteed by the Guarantors, in the principal amount of $15,000,000.00, as amended, restated, amended and restated,
supplemented or otherwise modified as permitted by this Agreement.

 

“Material Adverse
Effect” means (a) a material adverse change in, or a material adverse effect upon, the operations, business, properties,
liabilities (actual or contingent), or financial condition of the Borrower or the Borrower and its Restricted Subsidiaries taken as a
whole (other than events disclosed in Borrower’s public filings prior to the Closing Date); (b) a material impairment of the
rights and remedies of the Administrative Agent or any Term Loan Lender under any Loan Document, or of the ability of the Loan Parties,
taken as a whole, to perform their obligations under the Loan Documents; or (c) a material adverse effect upon the legality, validity,
binding effect or enforceability against any Loan Party of any Loan Document to which it is a party.

 

“Material Real Property”
(a) any individual real property that secures the obligations under the Senior Notes, (b) any individual real property owned
in fee by the Borrower or any Guarantor if the fair market value is greater than or equal to $500,000 and (c) to the extent that
the aggregate fair market value of all real property owned by the Borrower or any Guarantors not then subject to a Mortgage in favor
of the Administrative Agent exceeds $2,000,000 in the aggregate, any one or more individual real properties such that the remaining real
property not then subject to a Mortgage in favor of the Administrative Agent has an aggregate fair market value of not more than $2,000,000.

 

“Material Contract”
means, with respect to any Person, any agreement or instrument to which such Person is a party (other than the Loan Documents) (a) that
is deemed to be a material contract under any securities law applicable to such Person, including the Securities Act of 1933, (b) that
relates to Indebtedness of such Person with an aggregate principal amount in excess of $500,000 or (c) for which breach, termination,
nonperformance or failure to renew could reasonably be expected to have a Material Adverse Effect.

 

“Maturity Date”
means May 15, 2021; provided that such date may be extended for up to thirty (30) days with the prior written consent of
Term Loan Lenders (other than Defaulting Lenders and Affiliated Lenders) holding Term Loans representing more than 66 2/3% of the aggregate
outstanding amount of the Term Loans of all the Lenders at such time (excluding the Term Loans of Defaulting Lenders and Affiliated Lenders).

 

“Milestone”
has the meaning specified in Section 6.22.

 

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

 

    -17-

     

    

 

“Mortgages”
means the mortgages, deeds of trust, deeds to secure debt or other similar documents securing Liens on the Premises, as well as the other
Collateral secured by and described in the mortgages, deeds of trust, deeds to secure Indebtedness or other similar documents.

 

“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 (a) with respect to any Disposition, the cash proceeds received by the Borrower or any of its Subsidiaries (including cash
proceeds subsequently received (as and when received) in respect of non-cash consideration initially received and including all insurance
settlements and condemnation awards), net of (i) transaction expenses (including reasonable broker’s fees or commissions,
legal fees, accounting fees, investment banking fees and other professional fees, transfer and similar taxes and the Borrower’s
good faith estimate of income taxes paid or payable in connection with the receipt of such cash proceeds), (ii) amounts provided
as a reserve, in accordance with GAAP, including pursuant to any escrow arrangement, against any liabilities under any indemnification
obligations or purchase price adjustment associated with such Disposition (provided that, to the extent and at the time any such amounts
are released from such reserve, such amounts shall constitute Net Cash Proceeds), (iii) in the case of insurance settlements and
condemnation awards, amounts previously paid by the Borrower and any of its Subsidiaries consistent with the Approved Budget to replace
or restore the affected property, and (iv) the principal amount, premium or penalty, if any, interest and other amounts on any Indebtedness
for borrowed money which is secured by the asset sold in such Disposition and is required to be repaid with such proceeds (other than
any such Indebtedness assumed by the purchaser of such asset or Indebtedness that is secured by a Lien on the Collateral that is junior
to the Liens on the Collateral securing the Obligations), (b) with respect to any issuance or incurrence of Indebtedness, the cash
proceeds thereof, net of all taxes and customary fees, commissions, costs and other expenses (including reasonable broker’s fees
or commissions, legal fees, accounting fees, investment banking fees and other professional fees, and underwriter’s discounts and
commissions) incurred in connection therewith and (c) with respect to any Extraordinary Receipts, 100% of such cash or proceeds
received by the Borrower or any of its Subsidiaries.

 

“NFIP”
has the meaning specified in Section 6.12(f)(v).

 

“Non-Consenting
Lender” means any Term Loan Lender that does not approve any consent, waiver or amendment that (a) requires the approval
of all Term Loan Lenders or all affected Lenders in accordance with the terms of Section 10.01 and (b) has been approved
by the Required Lenders.

 

“Non-Defaulting
Lender” means, at any time, each Term Loan Lender that is not a Defaulting Lender at such time.

 

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

 

“NPL”
means the National Priorities List under CERCLA.

 

“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, in each case whether direct or indirect (including those acquired by assumption), absolute or contingent,
due or to become due, now existing or hereafter arising and including interest and fees that accrue after the commencement by or against
any 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.

 

    -18-

     

    

 

“OFAC”
means the Office of Foreign Assets Control of the United States Department of the Treasury.

 

“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 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(b)).

 

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

 

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

 

“Patriot Act”
means the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001,
Pub. L. No. 107-56, 115 Stat. 272 (2001).

 

“PBGC”
means the Pension Benefit Guaranty Corporation.

 

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

 

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

 

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

 

“Permitted Variance”
shall mean, commencing with the applicable Permitted Variance Commencement Date, (a) in respect of the aggregate amount of Actual
Operating Disbursement Amounts and Actual Debtor Professional Fee Amounts, 10% for each Variance Testing Period and (b) in respect
of Actual Cash Receipts, 15% for each Variance Testing Period.

 

    -19-

     

    

 

“Permitted Variance
Commencement Date” means the calendar week ending April 30, 2021.

 

“Person”
means any natural person, corporation, limited liability company, trust, joint venture, association, company, partnership, Governmental
Authority or other entity.

 

“Plan”
means any employee benefit plan within the meaning of Section 3(3) of ERISA (including a Pension Plan), 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 6.02.

 

“Pre-Adjustment
Successor Rate” has the meaning specified in Section 3.03(b).

 

“Premises”
means any property that is required hereunder to be subject to a Mortgage in favor of the Administrative Agent.

 

“Prime Rate”
means the rate of interest announced by a national banking institution from time to time as its prime rate. Such rate is set by a national
banking institution on the basis of various factors, including its costs and desired return, general economic conditions and other factors,
and is used as a reference point for pricing some loans, which may be priced at, above or below such rate. Any change in such rate publicly
announced by such institution shall take effect at the opening of business on the day specified in the announcement.

 

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

 

“Public Lender”
has the meaning specified in Section 6.02.

 

“QFC”
means a “qualified financial contract”, as defined in and interpreted in accordance with 12 U.S.C. §5390(c)(8)(D).

 

“QFC Credit Support”
has the meaning set forth in Section 10.25.

 

“Qualified Capital
Stock” of any Person means any capital stock of such person that is not Disqualified Capital Stock; provided that such
capital stock shall not be deemed Qualified Capital Stock to the extent sold or owed to a Subsidiary of such person or financed, directly
or indirectly, using funds (1) borrowed from such person or any Subsidiary of such person until and to the extent such borrowing
is repaid or (2) contributed, extended, guaranteed or advanced by such person or any Subsidiary of such person (including, without
limitation, in respect of any employee stock ownership or benefit plan). Unless otherwise specified, Qualified Capital Stock refers to
Qualified Capital Stock of Borrower.

 

“Recipient”
means (a) any Term Loan Lender and (b) the Administrative Agent, as applicable.

 

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

 

“Rejection Notice”
 “has the meaning specified in Section 2.05(g).

 

“Related Adjustment”
means, in determining any LIBOR Successor Rate, the first relevant available alternative set forth in the order below that can be determined
by the Required Lenders and the Administrative Agent applicable to such LIBOR Successor Rate: the spread adjustment, or method for calculating
or determining such spread adjustment, that has been selected or recommended by the Relevant Governmental Body for the relevant Pre-Adjustment
Successor Rate (taking into account the interest period, interest payment date or payment period for interest calculated and/or tenor
thereto) and which adjustment or method (x) is published on an information service as selected by the Administrative Agent from
time to time in its discretion and in consultation with the Required Lenders or (y) solely with respect to Term SOFR, if not currently
published, which was previously so recommended for Term SOFR and published on an information service acceptable to the Required Lenders
and available to the Administrative Agent.

 

    -20-

     

    

 

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

 

“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.

 

“Removal Effective
Date” has the meaning set forth in Section 9.06.

 

“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.

 

“Required Lenders”
means, as of any date of determination, Term Loan Lenders holding more than 50% of the sum of the Commitments or Term Loans, as applicable;
provided that the Commitments and Term Loans held or deemed held by, any Defaulting Lender shall be excluded for purposes of making
a determination of Required Lenders.

 

“Resignation Effective
Date” has the meaning set forth in Section 9.06.

 

“Resolution Authority”
means an EEA Resolution Authority or, with respect to any UK Financial Institution, a UK Resolution Authority.

 

“Responsible Officer”
means the chief executive officer, president, chief financial officer, treasurer, assistant treasurer or controller of a Loan Party,
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. To the extent requested by the Administrative Agent, each Responsible Officer will
provide an incumbency certificate and to the extent requested by the Administrative Agent, appropriate authorization documentation, in
form and substance satisfactory to the Administrative Agent.

 

“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 any Person or any of its Subsidiaries, or any payment (whether in cash, securities or other property), including any sinking
fund or similar deposit, on account of the purchase, redemption, retirement, defeasance, acquisition, cancellation or termination of
any such capital stock or other Equity Interest, or on account of any return of capital to any Person’s stockholders, partners
or members (or the equivalent of any thereof), or any option, warrant or other right to acquire any such dividend or other distribution
or payment.

 

“Restricted Subsidiary”
means any direct or indirect Subsidiary of the Borrower.

 

“RSA”
has the meaning specified in Section 6.22(e).

 

    -21-

     

    

 

“S&P”
means Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc., and any successor thereto.

 

“Sanction”
means any sanction administered or enforced by the United States Government (including, without limitation, OFAC), the United Nations
Security Council, the European Union, Her Majesty’s Treasury or other relevant sanctions authority.

 

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

 

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

 

“Second Lien Loans”
means one or more term loans in an aggregate amount not to exceed $15,000,000 made by Ascribe to the Borrower pursuant to the Second
Lien Note.

 

“Second Lien Note”
means that certain Second Lien Delayed Draw Promissory Note dated as of October 15, 2020, by the Borrower and the Guarantors in
favor of Ascribe, as amended, restated, amended and restated, supplemented or otherwise modified as permitted by this Agreement.

 

“Secured Parties”
means, collectively, the Administrative Agent, the Term Loan Lenders, each co-agent or sub-agent appointed by the Administrative Agent
from time to time pursuant to Section 9.05, and the other Persons the Obligations owing to which are or are purported to
be secured by the Collateral under the terms of the Collateral Documents.

 

“Security Agreement”
means that certain Security Agreement dated as of the Closing Date, as amended and supplemented from time to time, executed by each of
the Loan Parties in favor of the Administrative Agent.

 

“Security Agreement
Supplement” means the form of supplement attached to the Security Agreement as Annex I.

 

“SEMS”
means the Superfund Enterprise Management System maintained by the U.S. Environmental Protection Agency.

 

“Senior Notes”
means (a) those certain 10.75% Senior Secured Notes due 2023 of the Borrower and (b) any Additional Notes (as defined in the
Senior Notes Indenture).

 

“Senior Notes Collateral
Agency Agreement” means the “Collateral Agency Agreement” as defined in the Senior Notes Indenture.

 

“Senior Notes Documents”
means the “Note Documents” as defined in the Senior Notes Indenture.

 

“Senior Notes Indenture”
means the Indenture for the Senior Notes dated as of October 2, 2018 between the Borrower and the Senior Notes Trustee.

 

“Senior Notes Trustee”
means UMB Bank, N.A., in its capacity as trustee under the Senior Notes Indenture or as collateral agent under the Senior Notes Collateral
Agency Agreement.

 

“SOFR”
with respect to any Business 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) at approximately 8:00 a.m. on the immediately succeeding Business Day and, in each case, that has been selected
or recommended by the Relevant Governmental Body.

 

    -22-

     

    

 

“Specified Lender
Advisors” shall mean (i) Davis Polk & Wardwell LLP, as legal counsel and (ii) Ducera Partners LLP, as financial
advisor, in each case to the Ad Hoc Group of Term Loan Lenders.

 

“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,
or the management of which is otherwise controlled, directly, or indirectly through one or more intermediaries, or both, by such Person.
Unless otherwise specified, all references herein to a “Subsidiary” or to “Subsidiaries” shall
refer to a Subsidiary or Subsidiaries of the Borrower.

 

“Super Priority
Intercreditor Agreement” means the intercreditor agreement in substantially the form set forth in Exhibit F hereto.

 

“Supported QFC”
has the meaning set forth in Section 10.25.

 

“Synthetic Debt”
means, with respect to any Person as of any date of determination thereof, all obligations of such Person in respect of transactions
entered into by such Person that are intended to function primarily as a borrowing of funds (including any minority interest transactions
that function primarily as a borrowing) but are not otherwise included in the definition of “Indebtedness” or as a
liability on the consolidated balance sheet of such Person and its Subsidiaries in accordance with GAAP.

 

“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 (including sale and leaseback transactions), in each case, creating
obligations that do not appear on the balance sheet of such Person but which, upon the application of any Debtor Relief Laws to such
Person, would be characterized as the indebtedness of such Person (without regard to accounting treatment).

 

“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 Loan”
has the meaning specified in Section 2.01.

 

“Term Loan Lender”
has the meaning specified in the introductory paragraph hereto.

 

“Term Loan Lender Advisors”
means (i) the Specified Lender Advisors and (ii) as long as Ascribe remains a Term Loan Lender, Fried, Frank, Harris, Shriver
and Jacobson LLP, as legal counsel to Ascribe.

 

“Term SOFR”
means the forward-looking term rate for any period that is approximately (as determined by the Required Lenders 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 available to the Administrative
Agent and approved by the Required Lenders from time to time in its discretion.

 

“Third Supplemental
Indenture” means the Third Supplemental Indenture, dated as of the Closing Date, between the Borrower and the Senior Notes
Trustee, which shall be in form and substance satisfactory to each of the Term Loan Lenders, and which shall have been consented to by
holders (other than Affiliates of the Borrower) of not less than 66 2/3% of the aggregate principal amount of the Senior Notes and permit
the entry into this Agreement and all the transactions contemplated hereby.

 

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

 

    -23-

     

    

 

“UCC”
means the Uniform Commercial Code as in effect in the State of New York; provided that, if perfection or the effect of perfection
or non-perfection or the priority of any security interest in any Collateral is governed by the Uniform Commercial Code as in effect
in a jurisdiction other than the State of New York, “UCC” means the Uniform Commercial Code as in effect from time
to time in such other jurisdiction for purposes of the provisions hereof relating to such perfection, effect of perfection or non-perfection
or priority.

 

“UK Financial Institution”
means any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended form time to time) promulgated by the United Kingdom
Prudential Regulation Authority) or any person falling within IFPRU 11.6 of the FCA Handbook (as amended from time to time) promulgated
by the United Kingdom Financial Conduct Authority, which includes certain credit institutions and investment firms, and certain affiliates
of such credit institutions or investment firms.

 

“UK Resolution Authority”
means the Bank of England or any other public administrative authority having responsibility for the resolution of any UK Financial Institution.

 

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

 

“Unreimbursed Amount”
has the meaning specified in Section 2.03(c)(i).

 

“Unrestricted Subsidiary”
means any Subsidiary which is not a Restricted Subsidiary.

 

“U.S. Loan Party”
means any Loan Party that is organized under the laws of one of the states of the United States of America and that is not a CFC.

 

“U.S. Person”
means any Person that is a “United States person” as defined in Section 7701(a)(30) of the Code.

 

“U.S. Special Resolutions
Regimes” has the meaning specified in Section 10.25.

 

“U.S. Tax Compliance
Certificate” has the meaning specified in Section 3.01(e)(ii).

 

“Variance Testing
Period” means, as applicable, with respect to each testing date thereafter, the cumulative period of two weeks ending on April 30,
2021 and every two week period ending on the last date of each calendar week thereafter.

 

“Write-Down and
Conversion Powers” means, (a) 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 (b) with respect to the United Kingdom, any powers of
the applicable Resolution Authority under the Bail-In Legislation to cancel, reduce, modify or change the form of a liability of any
UK Financial Institution or any contract or instrument under which that liability arises, to convert all or part of that liability into
shares, securities or obligations of that person or any other person, to provide that any such contract or instrument is to have effect
as if a right had been exercised under it or to suspend any obligation in respect of that liability or any of the powers under that Bail-In
Legislation that are related to or ancillary to any of those powers.

 

    -24-

     

    

 

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 the Loan Documents and any Organization
Document) shall be construed as referring to such agreement, instrument or other document as from time to time amended, modified, extended,
restated, replaced or supplemented from time to time (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,
Preliminary Statements, Exhibits and Schedules shall be construed to refer to Articles and Sections of, and Preliminary Statements, Exhibits
and Schedules to, the Loan Document in which such references appear, (v) any reference to any law shall include all statutory and
regulatory rules, regulations, orders and provisions consolidating, amending, replacing or interpreting such law and any reference to
any law or regulation shall, unless otherwise specified, refer to such law or regulation as amended, modified, extended, restated, replaced
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.

 

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. Notwithstanding the foregoing, for purposes of determining compliance with any covenant (including the
computation of any financial covenant) contained herein, Indebtedness of the Borrower and its Subsidiaries shall be deemed to be
carried at 100% of the outstanding principal amount thereof, and the effects of FASB ASC 825 and FASB ASC 470-20 on financial liabilities
shall be disregarded.

 

(b)            Changes
in GAAP. If at any time any change in GAAP would affect the computation of any financial ratio or requirement set forth in any Loan
Document, and either the Borrower or the Required Lenders shall so request, the Term Loan Lenders and the Borrower shall negotiate in
good faith to amend such ratio or requirement to preserve the original intent thereof in light of such change in GAAP (subject to the
approval of the Required Lenders); provided that, until so amended, (i) such ratio or requirement shall continue to be computed
in accordance with GAAP prior to such change therein and (ii) the Borrower shall provide to the Administrative Agent and the Term
Loan 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. 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 all purposes of this Agreement, notwithstanding any change in GAAP relating thereto, unless the parties hereto
shall enter into a mutually acceptable amendment addressing such changes, as provided for above.

 

(c)            Consolidation
of Variable Interest Entities. 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 the Borrower is required to consolidate pursuant to FASB ASC 810 as if
such variable interest entity were a Subsidiary as defined herein.

 

    -25-

     

    

 

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

 

1.06         [Reserved]

 

1.07         Currency
Equivalents Generally.

 

(a)            Any
amount specified in this Agreement (other than in Articles II and IX) or any of the other Loan Documents to be in Dollars
shall also include the equivalent of such amount in any currency other than Dollars, such equivalent amount thereof in the applicable
currency to be determined by the Administrative Agent at such time on the basis of the Spot Rate (as defined below) for the purchase
of such currency with Dollars. For purposes of this Section 1.07, the “Spot Rate” for a currency means
the rate determined by the Administrative Agent 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
10:00 a.m. on the date two Business Days prior to the date of such determination; provided that the Administrative Agent
may obtain such spot rate from another financial institution designated by the Administrative Agent if the Person acting in such capacity
does not have as of the date of determination a spot buying rate for any such currency.

 

(b)            The
Administrative Agent does not warrant or accept responsibility for, nor shall the Administrative Agent have any liability with respect
to, the administration, submission or any other matter related to any rate used in determining LIBOR, Term SOFR or with respect to any
comparable or successor rate thereto. The Required Lenders and the Borrower agree to cooperate with the Administrative Agent in making
any determinations with respect to the comparable or successor rate to LIBOR or any other benchmark.

 

1.08         Uniform
Commercial Code. Terms relating to Collateral used and not otherwise defined herein that are
defined in the UCC shall have the meanings set forth in the UCC, as applicable and as the context requires.

 

1.09         Divisions.
For all purposes under this Agreement or any of the other Loan Documents, if pursuant to any division or plan of division under the Delaware
Limited Liability Company Act (or any comparable event under comparable laws of a different jurisdiction): (a) if any asset, right,
obligation or liability of any Person becomes the asset, right, obligation or liability of a different Person created as part of such
division, then it shall be deemed to have been transferred from the original Person to the subsequent Person, and (b) if any new
Person comes into existence as part of such division, such new Person shall be deemed to have been organized on the first date of its
existence by the holders of its capital stock at such time.

 

ARTICLE II

the COMMITMENTS

 

2.01         The
Loans. Subject to the terms and conditions set forth herein, each Term Loan Lender severally
agrees to make loans (each such loan, a “Term Loan”) to the Borrower on the Closing Date, in an aggregate amount not
to exceed the amount of such Term Loan Lender’s Commitment. The Term Loans made on the Closing Date shall be deposited into the
Collateral Account in accordance with Section 2.02(b). Each Term Loan Lender’s Commitment shall terminate immediately
and without any further action upon the making of the Term Loans on the Closing Date by such Term Loan Lender or, if earlier, at 5:00
p.m. on the Business Day following the Closing Date. The Term Loans funded on the Closing Date shall constitute 100% of the Commitments
but shall be funded net of any original issue discount agreed to by the parties hereto pursuant to the Lender Fee Letter.

 

    -26-

     

    

 

2.02         Borrowings,
Conversions and Continuations of Loans. (a) Each Borrowing, each conversion of Loans from
one Type to the other, and each continuation of LIBOR Loans shall be made upon the Borrower’s irrevocable notice to the Administrative
Agent, which may be given by: (i) electronic submission, (ii) a Funding Notice or (ii) a Conversion/Continuation Notice.
Each such notice must be received by the Administrative Agent not later than 12:00 p.m. (i) three Business Days (or such shorter
period as agreed to by the Administrative Agent (acting at the direction of the Required Lenders) prior to the requested date of any
Borrowing of, conversion to or continuation of LIBOR Loans or of any conversion of LIBOR Loans to Base Rate Loans (except in the case
of the initial Borrowing, which shall be received one Business Day prior to the requested date of such Borrowing), and (ii) one
Business Day prior to the requested date of any Borrowing of Base Rate 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 Funding Notice or Conversion/Continuation
Notice, as applicable, appropriately completed and signed by a Responsible Officer of the Borrower. Each conversion to or continuation
of LIBOR Loans shall be in a principal amount of $2,500,000 or a whole multiple of $1,000,000 in excess thereof. Except as provided in
Sections 2.03(c) and 2.04(c), each conversion to Base Rate Loans shall be in a principal amount of $500,000 or a whole
multiple of $100,000 in excess thereof. Each Funding Notice or Conversion/Continuation Notice, as applicable, and each electronic notice
shall specify (i) whether the Borrower is requesting a Borrowing, conversion of Loans from one Type to the other, or a continuation
of LIBOR Loans, as applicable, (ii) the requested date of the Borrowing, conversion or continuation, as the case may be (which shall
be a Business Day), as applicable, (iii) the principal amount of Loans to be borrowed, converted or continued, as applicable, (iv) the
Type of Loans to be borrowed or which existing Loans are to be converted, as applicable, (v) if applicable, the duration of the
Interest Period with respect thereto and (vi) the account to which funds shall be disbursed. If the Borrower fails to specify a
Type of Loan in a Funding Notice or Conversion/Continuation Notice, as applicable, or if the Borrower fails to give a timely notice requesting
a conversion or continuation, then the 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 LIBOR Loans. If
the Borrower requests a Borrowing of, conversion to, or continuation of LIBOR Loans in any such Funding Notice or Conversion/Continuation
Notice, as applicable, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one month.

 

(b)            Following
receipt of a Funding Notice or Conversion/Continuation Notice, as applicable, the Administrative Agent shall promptly notify each Term
Loan Lender of the amount of its Applicable Percentage of the Loans, and if no timely notice of a conversion or continuation is provided
by the Borrower, the Administrative Agent shall notify each Term Loan Lender of the details of any automatic conversion to Base Rate
Loans described in Section 2.02(a). In the case of the Borrowing on the Closing Date, each Term Loan Lender shall make the
amount of its Loan available to the Administrative Agent in immediately available funds at the Administrative Agent’s Office not
later than 12:00 noon on the Closing Date, which shall be the Business Day specified in the Funding Notice. On the Closing Date, upon
satisfaction of the conditions set forth in Section 4.01, 100% of the net proceeds of the Term Loans (net of any original
issue discount agreed to by the parties hereto pursuant to the Lender Fee Letter) shall be wire transferred to an account of the Borrower
that constitutes a Collateral Account in accordance with the funds flow memorandum approved by the Term Loan Lender Advisors and delivered
to the Administrative Agent prior to the Closing Date.

 

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

 

(d)            The
Administrative Agent shall promptly notify the Borrower and the Term Loan Lenders of the interest rate applicable to any Interest Period
for LIBOR 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 Term Loan Lenders of any change in the prime rate used by the Administrative Agent in determining the
Base Rate promptly following the public announcement of such change.

 

    -27-

     

    

 

(e)            After
giving effect to all Borrowings, all conversions of Loans from one Type to the other, and all continuations of Loans as the same Type,
there shall not be more than five (5) Interest Periods in effect with respect to LIBOR Loans.

 

2.03         [Reserved].

 

2.04         [Reserved].

 

2.05         Prepayments.
(a) Optional. The Borrower may not at any time voluntarily prepay Loans in whole or in part without the prior written consent
of Ad Hoc Group of Term Loan Lenders; provided that notwithstanding the foregoing, the Borrower may voluntarily prepay Loans in
whole upon prior written notice to the Administrative Agent so long as the Borrower simultaneously prepays in full the aggregate outstanding
principal amount of the Senior Notes and the March 2020 Note, plus accrued and unpaid interest thereunder and all other Obligations
(as defined in the Senior Notes Indenture and the March 2020 Note, as applicable) that are due and payable thereunder.

 

(b)            Dispositions.
Not later than the second Business Day following the receipt of Net Cash Proceeds in excess of $25,000 by the Borrower or any of its
Subsidiaries in respect of any Disposition made pursuant to Section 7.05(f), the Borrower shall apply 100% of the Net Cash
Proceeds received with respect thereto to prepay outstanding Loans in an aggregate principal amount equal to 100% of such Net Cash Proceeds;
provided that, in no event shall the proceeds of any ABL Collateral be required to prepay the Loans.

 

(c)            Extraordinary
Receipts. Not later than the second Business Day following the receipt of Net Cash Proceeds by the Borrower or any of its Subsidiaries
in respect of Extraordinary Receipts in excess of $25,000 in the aggregate for all such Extraordinary Receipts during the term of this
Agreement, the Borrower shall cause to be prepaid an aggregate principal amount of Loans in an amount equal to 100% of all such excess
Net Cash Proceeds received therefrom; provided that in no event shall the Borrower or any of its Subsidiaries be required to prepay
the Loans under this Section 2.05(c) with the proceeds of the Extraordinary Receipts described on Schedule 2.05(c) (it
being understood and agreed that such proceeds shall be deposited into a Collateral Account upon receipt and disbursed from such Collateral
Account solely in accordance with the Approved Budget (subject to Permitted Variances)); provided, further, that, in no
event shall the proceeds of any ABL Collateral be required to prepay the Loans.

 

(d)            Issuance
of Indebtedness. In the event that the Borrower or any of its Subsidiaries shall receive Net Cash Proceeds from the issuance or incurrence
of any Indebtedness by the Borrower or any of its Subsidiaries (other than any cash proceeds from the issuance or incurrence of Indebtedness
permitted pursuant to Section 7.02), then the Borrower shall, substantially simultaneously with the receipt of such Net Cash
Proceeds by the Borrower or any of its Subsidiaries, apply an amount equal to 100% of such Net Cash Proceeds to prepay outstanding Loans.

 

(e)            Notice
and Certificate. The Borrower shall deliver to the Administrative Agent, at the time of each prepayment required under this Section 2.05,
(i) a certificate signed by a Responsible Officer of the Borrower setting forth in reasonable detail the calculation of the amount
of such prepayment and (ii) to the extent practicable, at least two Business Days’ prior written notice of such prepayment.
Each notice of prepayment shall specify the prepayment date, the Type of each Loan being prepaid and the principal amount of each Loan
(or portion thereof) to be prepaid. All prepayments of under this Section 2.05 shall be applied in accordance with Section 2.13
and subject to Sections 3.04 and 3.05, but shall otherwise be without premium or penalty. All prepayments of Borrowings
under this Section 2.05 shall be accompanied by accrued and unpaid interest on the principal amount to be prepaid to but
excluding the date of payment. Prior to the applicable of any prepayment required under this Section 2.05, all Net Cash Proceeds
received by the Borrower or any of its Subsidiaries shall be deposited into a Collateral Account in accordance with Security Agreement.

 

    -28-

     

    

 

(f)             Obligations
under Other Debt Instruments. Notwithstanding anything in this Section 2.05 to the contrary, in the event and on each
occasion that the Borrower or any of its Subsidiaries would be required pursuant to the terms of the ABL Facility, as in effect on the
date hereof, to repay or prepay, or to make an offer to repay or prepay, any such Indebtedness as a result of the receipt of any Net
Cash Proceeds by the Borrower or any of its Subsidiaries in connection with a Disposition of any ABL Collateral or other event in respect
of any ABL Collateral that would otherwise require a prepayment of the Loans pursuant to this Section 2.05, then, to the
extent of any such requirement to make such repayment or prepayment, or to make such offer, the Borrower and any of its Subsidiaries
shall not be required to make any prepayments pursuant to this Section 2.05.

 

(g)            Declining
Lenders. Notwithstanding any of the other provisions of this Section 2.05, any Term Loan Lender may elect not to accept
all (but not less than all) of its pro rata percentage of any mandatory prepayment (any such Term Loan Lender, a “Declining
Lender”, and any such declined amounts, the “Declined Amounts”) of Loans required to be made pursuant to
clauses (b) and (c) of this Section 2.05 by providing written notice (each, a “Rejection Notice”)
to the Administrative Agent no later than 5:00 p.m. on the Business Day of such Term Loan Lender’s receipt of notice from
the Administrative Agent regarding such prepayment. If a Lender fails to deliver a Rejection Notice to the Administrative Agent within
the time frame specified above such failure will be deemed an acceptance of the total amount of such mandatory prepayment of Loans. Any
Declined Amounts shall be offered to Lenders that are not Declining Lenders on a pro rata basis, and any Declined Amounts remaining thereafter
shall be retained by the Borrower.

 

2.06         [Reserved].

 

2.07         Repayment
of Loans. The Borrower shall repay to the Term Loan Lenders on the Maturity Date the aggregate
principal amount of all Loans outstanding on such date.

 

2.08         Interest.
(a) Subject to the provisions of Section 2.08(b), (i) each LIBOR Loan shall bear interest on the outstanding principal
amount thereof for each Interest Period at a rate per annum equal to LIBOR for such Interest Period plus the Applicable Rate and (ii) each
Base Rate Loan shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per annum
equal to the Base Rate plus the Applicable Rate. For the avoidance of doubt, 100% of the Loans shall begin to accrue interest on the
Closing Date.

 

(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 Administrative
Agent (at the direction of the Required Lenders) or 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 Administrative Agent (at the direction of the Required Lenders) or the Required Lenders, while any Event of Default
exists or automatically upon the occurrence of an Event of Default under Section 8.01(a) or Section 8.01(f),
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.

 

    -29-

     

    

 

(iv)          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; provided, that such interest shall be paid solely by capitalizing, compounding and adding such accrued amounts to the
unpaid principal amount of the Term Loans outstanding at such time. 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.

 

(a)            Fees.
(i) The Borrower shall pay to the Administrative Agent for its own account fees in the amounts and at the times specified in the
Agency 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 Administrative Agent for the benefit of the Term Loan Lenders such fees as shall have been separately agreed
upon in the Fee Letter. Such fees shall be fully earned when paid and shall not be refundable for any reason whatsoever.

 

2.10         Computation
of Interest and Fees. (a) All computations of interest for Base Rate Loans (excluding Base
Rate Loans determined by reference to LIBOR) 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 2.12(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 Loans made by each Term Loan Lender shall be evidenced by one or more
accounts or records maintained by such Term Loan Lender and by the Administrative Agent in the ordinary course of business. The accounts
or records maintained by the Administrative Agent and each Term Loan Lender shall be conclusive absent manifest error of the amount of
the Loans made by the Term Loan 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 Term Loan 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 Term Loan Lender, the Borrower shall execute and deliver to such Term Loan
Lender a Note, which shall evidence such Term Loan Lender’s Loans in addition to such accounts or records. Each Term Loan 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 Section 2.11(a), each Term Loan Lender and the Administrative Agent shall
maintain in accordance with its usual practice accounts or records evidencing the purchases and sales by such Term Loan Lender. In the
event of any conflict between the accounts and records maintained by the Administrative Agent, any Note and the accounts and records
of any Term Loan Lender in respect of such matters, the accounts and records of the Administrative Agent shall control in the absence
of manifest error.

 

    -30-

     

    

 

2.12         Payments
Generally; Administrative Agent’s Clawback. (a) General. All payments to be
made by the Borrower shall be made free and clear and 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 Term Loan 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 Term Loan Lender its Applicable Percentage (or other applicable share as provided herein) of such payment in like
funds as received by wire transfer to such Term Loan 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 on computing interest or fees, as the case may be.

 

(b)       (i)         Funding
by Term Loan Lenders; Presumption by Administrative Agent. Unless the Administrative Agent shall have received notice from a Term
Loan Lender prior to the proposed date of any Borrowing of LIBOR Loans (or, in the case of any Borrowing of Base Rate Loans, prior to
1:00 p.m. on the date of such Borrowing) that such Term Loan Lender will not make available to the Administrative Agent such Term
Loan Lender’s share of such Borrowing, the Administrative Agent may assume that such Term Loan Lender has made such share available
on such date in accordance with Section 2.02 (or, in the case of a Borrowing of Base Rate Loans, that such Term Loan Lender
has made such share available in accordance with and at the time required by Section 2.02) and may (but shall not be obligated
to), in reliance upon such assumption, make available to the Borrower a corresponding amount. In such event, if a Term Loan Lender has
not in fact made its share of the applicable Borrowing available to the Administrative Agent, then the applicable Term Loan 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 Term Loan 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 Term Loan 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 Term
Loan Lender pays its share of the applicable Borrowing to the Administrative Agent, then the amount so paid shall constitute such Term
Loan Lender’s Loan included in such Borrowing. Any payment by the Borrower shall be without prejudice to any claim the Borrower
may have against a Term Loan 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 time at which any payment is due to the Administrative Agent for the account of the Term Loan Lenders 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 (but shall not be obligated to), in reliance upon such assumption, distribute to the Term Loan Lenders the amount due. In such
event, if the Borrower has not in fact made such payment, then each of the Term Loan Lenders severally agrees to repay to the Administrative
Agent forthwith on demand the amount so distributed to such Term Loan Lender 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.

 

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

 

    -31-

     

    

 

(c)            Failure
to Satisfy Conditions Precedent. If any Term Loan Lender makes available to the Administrative Agent funds for any Loan to be made
by such Term Loan 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 Borrowing 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
Term Loan Lender) to such Term Loan Lender, without interest.

 

(d)            Obligations
of Term Loan Lenders Several. The obligations of the Term Loan Lenders hereunder to make Loans and to make payments pursuant to Section 10.04(c) are
several and not joint. The failure of any Term Loan Lender to make any Loan or to make any payment under Section 10.04(c) on
any date required hereunder shall not relieve any other Term Loan Lender of its corresponding obligation to do so on such date, and no
Term Loan Lender shall be responsible for the failure of any other Term Loan Lender to so make its 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 Term Loan Lender to obtain the funds for any Loan in any particular place
or manner or to constitute a representation by any Term Loan Lender that it has obtained or will obtain the funds for any Loan in any
particular place or manner.

 

(f)             Insufficient
Funds. If at any time insufficient funds are received by and available to the Administrative Agent to pay fully all amounts of principal,
interest and fees then due hereunder, such funds shall be applied (i) first, to the 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 this Article II) payable to the Administrative Agent in its capacity as such, (ii) second,
toward payment of interest and fees then due hereunder, ratably among the parties entitled thereto in accordance with the amounts of
interest and fees then due to such parties, and (iii) third, toward payment of principal then due hereunder, ratably among
the parties entitled thereto in accordance with the amounts of principal then due to such parties.

 

2.13         Sharing
of Payments by Term Loan Lenders. If any Term Loan Lender shall, by exercising any right of
setoff or counterclaim or otherwise, obtain payment in respect of (a) Obligations due and payable to such Term Loan Lender hereunder
and under the other Loan Documents at such time in excess of its ratable share (according to the proportion of (i) the amount of
such Obligations due and payable to such Term Loan Lender at such time to (ii) the aggregate amount of the Obligations due and payable
to all Term Loan Lenders hereunder and under the other Loan Documents at such time) of payments on account of the Obligations due and
payable to all Term Loan Lenders hereunder and under the other Loan Documents at such time obtained by all the Term Loan Lenders at such
time or (b) Obligations owing (but not due and payable) to such Term Loan Lender hereunder and under the other Loan Documents at
such time in excess of its ratable share (according to the proportion of (i) the amount of such Obligations owing (but not due and
payable) to such Term Loan Lender at such time to (ii) the aggregate amount of the Obligations owing (but not due and payable) to
all Term Loan Lenders hereunder and under the other Loan Parties at such time) of payment on account of the Obligations owing (but not
due and payable) to all Term Loan Lenders hereunder and under the other Loan Documents at such time obtained by all of the Term Loan
Lenders at such time then, in each case under clause (a) and (b) above, the Term Loan 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 Loans
of the other Term Loan Lenders, or make such other adjustments as shall be equitable, so that the benefit of all such payments shall
be shared by the Term Loan Lenders ratably in accordance with the aggregate amount of Obligations then due and payable to the Term Loan
Lenders or owing (but not due and payable) to the Term Loan Lenders, as the case may be, provided that:

 

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

 

    -32-

     

    

 

(ii)           the
provisions of this Section 2.13 shall not be construed to apply to (A) 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) or (B) any payment obtained by a Term Loan Lender as consideration for the assignment of or sale of a participation
in any of its Loans or to any assignee or participant, other than an assignment to the Borrower or any Subsidiary or Affiliate thereof
(as to which the provisions of this Section 2.13 shall apply).

 

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

 

2.14         [Reserved]
.

 

2.15         [Reserved].

 

2.16         Defaulting
Lenders. Notwithstanding anything to the contrary contained in this Agreement:

 

(a)            Waivers
and Amendments. A 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.

 

(b)            Reallocation
of Payments and Applicable Percentages. For purposes of determining Term Loan Lenders’ obligations or rights to fund, participate
in or receive collections with respect to Loans, the Administrative Agent may in its discretion reallocate Applicable Percentages by
excluding a Defaulting Lender’s Commitments and Loans from the calculation of thereof.

 

(c)            Payments;
Fees. The Administrative Agent may, in its discretion, receive and retain any amounts payable to a Defaulting Lender under the Loan
Documents, and a Defaulting Lender shall be deemed to have assigned to the Administrative Agent such amounts until all Obligations owing
to the Administrative Agent, non-Defaulting Lenders and other Secured Parties have been paid in full. The Administrative Agent may use
such amounts to cover the Defaulting Lender’s defaulted obligations, to readvance the amounts to the Borrower or to repay Obligations.
A Term Loan Lender shall not be entitled to receive any fees accruing hereunder while it is a Defaulting Lender.

 

(d)            Defaulting
Lender Cure. If the Borrower and the Administrative Agent agree in writing in their sole discretion that a Defaulting Lender is no
longer 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, that Term Loan Lender will, to the extent applicable, purchase at par
that portion of outstanding Loans of the other Term Loan Lenders or take such other actions as the Administrative Agent may determine
to be necessary to cause the Loans to be held on a pro rata basis by the Term Loan Lenders in accordance with their Applicable Percentages
(without giving effect to Section 2.16(b)), whereupon that Term Loan 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.

 

2.17         [Reserved].

 

2.18         [Reserved].

 

    -33-

     

    

 

 

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 a Loan Party 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 an applicable withholding
agent to withhold or deduct any Tax, such Tax shall be withheld or deducted in accordance with such Laws as determined by the Loan Party
or the Administrative Agent, as the case may be, upon the basis of the information and documentation to be delivered pursuant to subsection
(e) below.

 

(ii)            If
any applicable withholding agent shall be required by applicable Law to withhold or deduct any Taxes, including both United States federal
backup withholding and withholding Taxes, from any payment, then (A) such withholding agent shall withhold or make such deductions
as are determined by such withholding agent to be required based upon the information and documentation it has received pursuant to subsection
(e) below, (B) such withholding agent shall timely pay the full amount withheld or deducted to the relevant Governmental Authority
in accordance with applicable Law, and (C) if such Tax subject to withholding or deduction is an Indemnified Tax, 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 withholding or deductions applicable to additional sums payable under this Section) the applicable Recipient 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 applicable Loan Party. Without limiting the provisions of subsection (a) above, the applicable Loan Party
shall timely pay any Other Taxes 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)           Tax
Indemnifications. (i) Without limiting the provisions of subsection (a) or (b) above, any Loan Party shall, and does
hereby, 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) withheld
or deducted by applicable Loan Party or the Administrative Agent or paid by the applicable 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. The applicable Loan Party 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 Term Loan Lender 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 applicable Loan Party by a Recipient (with a copy to the Administrative
Agent), or by the Administrative Agent on its own behalf or on behalf of a Term Loan Lender, shall be conclusive absent manifest error.

 

(ii)            Without
limiting the provisions of subsection (a) or (b) above, each Term Loan Lender and shall, and does hereby, indemnify 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 Administrative
Agent) incurred by or asserted against the Administrative Agent by any Governmental Authority as a result of the failure by such Term
Loan Lender to deliver, or as a result of the inaccuracy, inadequacy or deficiency of, any documentation required to be delivered by
such Term Loan Lender to the Administrative Agent pursuant to subsection (e). Each Term Loan Lender hereby authorizes the Administrative
Agent to set off and apply any and all amounts at any time owing to such Term Loan Lender under this Agreement or any other Loan Document
against any amount due to the Administrative Agent under this clause (ii).

 

    -34-

     

    

 

(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 applicable
Loan Party or 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) Any Term Loan 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 Borrower and the Administrative Agent, at the time or times
reasonably requested by the Borrower or the Administrative Agent, such properly completed and executed documentation reasonably requested
by the Borrower or the Administrative Agent as will permit such payments to be made without withholding or at a reduced rate of withholding.
In addition, any Term Loan Lender, if reasonably requested by the Borrower or the Administrative Agent, shall deliver such other documentation
prescribed by applicable Law or reasonably requested by the Borrower or the Administrative Agent as will enable the Borrower or the Administrative
Agent to determine whether or not such Term Loan 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 set forth in Section 3.01(e)(ii)(A), (ii)(B) and (ii)(D) below) shall not be required
if in the Term Loan Lender’s reasonable judgment such completion, execution or submission would subject such Term Loan Lender to
any material unreimbursed cost or expense or would materially prejudice the legal or commercial position of such Term Loan Lender.

 

(ii)            Without
limiting the generality of the foregoing,

 

(A)          any
Term Loan Lender that is a U.S. Person shall deliver to the Borrower and the Administrative Agent on or prior to the date on which such
Term Loan Lender becomes a Term Loan Lender under this Agreement (and from time to time thereafter upon the reasonable request of the
Borrower or the Administrative Agent), executed copies of IRS Form W-9 certifying that such Term Loan Lender is exempt from U.S.
federal backup withholding Tax;

 

(B)           any
Foreign Lender shall, to the extent it is legally entitled to do so, 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 Term Loan Lender under
this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative Agent), whichever
of the following is applicable:

 

(1)            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-8BEN or IRS Form W-8BEN-E 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-8BEN or IRS Form W-8BEN-E 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;

 

(2)            executed
copies of IRS Form W-8ECI;

 

(3)            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 I-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 Borrower within the meaning
of Section 881(c)(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-8BEN or IRS Form W-8BEN-E
(as applicable); or

 

    -35-

     

    

 

(4)            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-8BEN or IRS Form W-8BEN-E (as applicable), a U.S. Tax Compliance Certificate substantially in the form of Exhibit I-2
or Exhibit I-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 I-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 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 Term Loan Lender under
this Agreement (and from time to time thereafter upon the reasonable request of the Borrower 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 Borrower or the Administrative
Agent to determine the withholding or deduction required to be made; and

 

(D)           if
a payment made to a Recipient under any Loan Document would be subject to U.S. federal withholding Tax imposed by FATCA if such Recipient
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 Recipient shall deliver to the Borrower and the Administrative Agent at the time or times
prescribed by Law and at such time or times reasonably requested by the Borrower or the Administrative Agent such documentation prescribed
by applicable Law (including as prescribed by Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably
requested by the Borrower or the Administrative Agent as may be necessary for the Borrower and the Administrative Agent to comply with
their obligations under FATCA and to determine that such Recipient has complied with such Recipient’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.

 

Each Term Loan Lender agrees
that if any form or certification it previously delivered expires or becomes obsolete or inaccurate in any respect, it shall update such
form or certification or promptly notify the Borrower and the Administrative Agent in writing of its legal inability to do so.

 

(f)           Treatment
of Certain Refunds. If the Administrative Agent or any Term Loan Lender 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 3.01, 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 3.01 with respect to
the Taxes giving rise to such refund), net of all out-of-pocket expenses (including Taxes) incurred by the Administrative Agent or such
Term Loan Lender and without interest (other than any interest paid by the relevant Governmental Authority with respect to such refund),
provided that the applicable Loan Party, upon the request of the Administrative Agent or such Term Loan Lender agrees to repay
the amount paid over to applicable Loan Party (plus any penalties, interest or other charges imposed by the relevant Governmental Authority)
to the Administrative Agent or such Term Loan Lender in the event the Administrative Agent or such Term Loan Lender is required to repay
such refund to such Governmental Authority. Notwithstanding anything to the contrary in this subsection (f), in no event will the Administrative
Agent or such Term Loan Lender be required to pay any amount to the applicable Loan Party pursuant to this subsection (f) the payment
of which would place the Administrative Agent or such Term Loan Lender in a less favorable net after-Tax position than the Administrative
Agent or such Term Loan Lender 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 the Administrative Agent, any Term Loan Lender 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.

 

    -36-

     

    

 

(g)           Survival.
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 Term Loan Lender, the termination of the Commitments and the repayment,
satisfaction or discharge of all other Obligations.

 

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

 

3.03       Inability
to Determine Rates.

 

(a)           The
Administrative Agent will promptly notify the Borrower and the Term Loan Lenders if, in connection with any Loan or request with respect
to a Loan, (i) the Administrative Agent or the Required Lenders determine that (A) Dollar deposits are not being offered to
banks in the London interbank eurodollar market for the applicable Loan amount or Interest Period, or (B) adequate and reasonable
means do not exist for determining LIBOR for the Loan or Interest Period (including with respect to calculation of the Base Rate); or
(ii) the Administrative Agent or the Required Lenders determine for any reason that LIBOR for the Interest Period does not adequately
and fairly reflect the cost to Lenders of funding or maintaining the Loan. Thereafter, the Term Loan Lenders’ obligations to make
or maintain affected LIBOR Loans and utilization of the LIBOR component (if affected) in determining Base Rate shall be suspended until
the Administrative Agent determines (or at the instruction of the Required Lenders) to withdraw the notice. Upon receipt of such notice,
the Borrower may revoke any pending request for funding, conversion or continuation of a LIBOR Loan or, failing that, will be deemed
to have requested a Base Rate Loan, and the Administrative Agent shall, upon request by the Required Lenders, immediately convert any
affected LIBOR Loan to a Base Rate Loan and/or disregard the use of LIBOR in determining Base Rate.

 

    -37-

     

    

 

(b)           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 the Borrower) that the Borrower or Required Lenders (as applicable) have determined, that:

 

(i)            adequate
and reasonable means do not exist for ascertaining LIBOR for any Interest Period hereunder or any other tenors of LIBOR, 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 or such administrator
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, provided that, at the time of such statement, there is no successor administrator
that is satisfactory to the Administrative Agent (acting at the direction of the Required Lenders), that will continue to provide LIBOR
after such specific date (such specific date, the “Scheduled Unavailability Date”); or

 

(iii)           the
administrator of the LIBOR Screen Rate or a Governmental Authority having jurisdiction over such administrator has made a public statement
announcing that all Interest Periods and other tenors of LIBOR are no longer representative; or

 

(iv)          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,
(x) in the case of clauses (i)-(iii) above, on a date and time determined by the Administrative Agent (any such date, the “LIBOR
Replacement Date”), which date shall be at the end of an Interest Period or on the relevant interest payment date, as applicable,
for interest calculated and shall occur reasonably promptly upon the occurrence of any of the events or circumstances under clauses
(i), (ii) or (iii) above and, solely with respect to clause (ii) above, no later than the Scheduled Unavailability Date,
LIBOR will be replaced hereunder and under the other Loan Documents with, subject to the proviso below, the first available alternative
set forth in the order below for any payment period for interest calculated that can be determined by the Administrative Agent, in each
case, without any amendment to, or further action or consent of any other party to, this Agreement or any other Loan Document (the “LIBOR
Successor Rate”; and any such rate before giving effect to the Related Adjustment, the “Pre-Adjustment Successor Rate”):

 

(A)          Term
SOFR plus the Related Adjustment; and

 

(B)           SOFR
plus the Related Adjustment;

 

    -38-

     

    

 

and
(y) in the case of clause (iv) above, the Borrower and Administrative Agent (acting at the direction of the Required
Lenders) may amend this Agreement solely for the purpose of replacing LIBOR under this Agreement and under the other Loan Documents in
accordance with the definition of “LIBOR Successor Rate” and such amendment will become effective at 5:00 p.m., on the fifth
Business Day after the Administrative Agent shall have notified all Term Loan Lenders and the Borrower of the occurrence of the circumstances
described in clause (iv) above unless, prior to such time, Term Loan Lenders comprising the Required Lenders have delivered to the
Administrative Agent written notice that such Required Lenders object to the implementation of a LIBOR Successor Rate pursuant to such
clause;

 

provided
that, if the Administrative Agent and the Required Lenders determine that Term SOFR has become available, is administratively
feasible for the Administrative Agent and would have been identified as the Pre-Adjustment Successor Rate in accordance with the foregoing
if it had been so available at the time that the LIBOR Successor Rate then in effect was so identified, and the Administrative Agent
notifies the Borrower and each Term Loan Lender of such availability, then from and after the beginning of the Interest Period, relevant
interest payment date or payment period for interest calculated, in each case, commencing no less than thirty (30) days after the date
of such notice, the Pre-Adjustment Successor Rate shall be Term SOFR and the LIBOR Successor Rate shall be Term SOFR plus the
relevant Related Adjustment.

 

The
Administrative Agent will promptly (in one or more notices prepared by the Borrower and/or the Required Lenders) notify the Borrower
and each Term Loan Lender of (x) any occurrence of any of the events, periods or circumstances under clauses (i) through
(iii) above, (y) a LIBOR Replacement Date and (z) the LIBOR Successor Rate. Any 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 and the Required Lenders. Notwithstanding anything else herein, if at any time any LIBOR Successor Rate as so determined would
otherwise be less than 1.00%, the LIBOR Successor Rate will be deemed to be 1.00% for the purposes of this Agreement and the other Loan
Documents. In connection with the implementation of a LIBOR Successor Rate, the Administrative Agent (at the direction of the Required
Lenders) will have the right to make LIBOR 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 LIBOR 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 Borrower or the Required Lenders shall prepare the text of such amendment and Administrative Agent shall post each such
amendment implementing such LIBOR Successor Rate Conforming Changes to the Borrower and the Term Loan Lenders reasonably promptly after
such amendment becomes effective. If the events or circumstances of the type described in Section 3.03(b)(i)-(iii) have
occurred with respect to the LIBOR Successor Rate then in effect, then the successor rate thereto shall be determined in accordance with
the definition of “LIBOR Successor Rate.”

 

    -39-

     

    

 

(c)            Notwithstanding
anything to the contrary herein, (i) after any such determination by the Administrative Agent or receipt by the Administrative Agent
of any such notice described under Section 3.03(b)(i)-(iii), as applicable, if the Administrative Agent or the Required Lenders
determine that none of the LIBOR Successor Rates is available on or prior to the LIBOR Replacement Date, (ii) if the events or circumstances
described in Section 3.03(b)(iv) have occurred but none of the LIBOR Successor Rates is available, or (iii) if
the events or circumstances of the type described in Section 3.03(b)(i)-(iii) have occurred with respect to the LIBOR
Successor Rate then in effect and the Administrative Agent determines that none of the LIBOR Successor Rates is available, then in each
case, the Administrative Agent (at the direction of the Required Lenders) and the Borrower may amend this Agreement solely for the purpose
of replacing LIBOR or any then current LIBOR Successor Rate in accordance with this Section 3.03 at the end of any Interest
Period, relevant interest payment date or payment period for interest calculated, as applicable, with another alternate benchmark rate
giving due consideration to any evolving or then existing convention for similar U.S. dollar denominated syndicated credit facilities
for such alternative benchmarks and, in each case, including any Related Adjustments and any other mathematical or other adjustments
to such benchmark giving due consideration to any evolving or then existing convention for similar U.S. dollar denominated syndicated
credit facilities for such benchmarks, which adjustment or method for calculating such adjustment shall be published on an information
service as selected by the Required Lenders and available to the Administrative Agent and may be periodically updated. For the avoidance
of doubt, any such proposed rate and adjustments shall constitute a LIBOR Successor Rate. 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 Term Loan 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 object to such amendment.

 

(d)           If,
at the end of any Interest Period, relevant interest payment date or payment period for interest calculated, no LIBOR Successor Rate
has been determined in accordance with clauses (b) or (c) of this Section 3.03 and the circumstances
under clauses (b)(i) or (b)(iii) above exist or the Scheduled Unavailability Date has occurred (as applicable),
the Administrative Agent will promptly so notify the Borrower and each Term Loan Lender. Thereafter, (x) the obligation of the Term
Loan Lenders to make or maintain LIBOR Loans shall be suspended (to the extent of the affected LIBOR Loans, Interest Periods, interest
payment dates or payment periods), and (y) the LIBOR component shall no longer be utilized in determining the Base Rate, until the
LIBOR Successor Rate has been determined in accordance with clauses (b) or (c). Upon receipt of such notice, the Borrower
may revoke any pending request for a Borrowing of, conversion to or continuation of LIBOR Loans (to the extent of the affected LIBOR
Loans, Interest Periods, interest payment dates or payment 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 specified therein.

 

3.04        Increased
Costs; Capital Adequacy. (a) Increased Costs Generally. If any Change in Law shall:

 

(i)             impose,
modify or deem applicable any reserve, liquidity, 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 Term Loan Lender (except any reserve requirement
reflected in calculating LIBOR);

 

(ii)            subject
any Recipient to any Taxes (other than (A) Indemnified Taxes, (B) Taxes described in clauses (b) through (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

 

(iii)           impose
on any Term Loan Lender or the London interbank market any other condition, cost or expense affecting this Agreement or LIBOR Loans made
by such Term Loan Lender;

 

    -40-

     

    

 

and the result of any of the foregoing shall
be to increase the cost to such Term Loan Lender of making, converting to, continuing or maintaining any Loan the interest on which is
determined by reference to LIBOR (or of maintaining its obligation to make any such Loan), or to increase the cost to such Term Loan
Lender, or to reduce the amount of any sum received or receivable by such Term Loan Lender (whether of principal, interest or any other
amount) then, upon request of such Term Loan Lender the Borrower will pay to such Term Loan Lender such additional amount or amounts
as will compensate such Term Loan Lender for such additional costs incurred or reduction suffered.

 

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

 

(c)           Certificates
for Reimbursement. A certificate of a Term Loan Lender setting forth the amount or amounts necessary to compensate such Term Loan
Lender or its holding company, as the case may be, as specified in subsection (a) or (b) of this Section 3.04 and
delivered to the Borrower (with a copy to the Administrative Agent) shall be conclusive absent manifest error. The Borrower shall pay
such Term Loan Lender 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 Term Loan Lender to demand compensation pursuant to the foregoing provisions of
this Section shall not constitute a waiver of such Term Loan Lender’s right to demand such compensation, provided that
the Borrower shall not be required to compensate a Term Loan Lender pursuant to the foregoing provisions of this Section 3.04
for any increased costs incurred or reductions suffered more than 180 days prior to the date that such Term Loan Lender notifies
the Borrower of the Change in Law giving rise to such increased costs or reductions and of such Term Loan Lender’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 180-day period referred to above shall be extended to include the period of retroactive effect thereof).

 

(e)           Reserves
on LIBOR Loans. The Borrower shall pay to each Term Loan Lender, (i) as long as such Term Loan 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 LIBOR Loan equal to the actual costs of such reserves
allocated to such Loan by such Term Loan Lender (as determined by such Term Loan Lender in good faith, which determination shall be conclusive)
and (ii) as long as such Term Loan Lender shall be required to comply with any reserve ratio requirement or analogous requirement
of any central banking or financial regulatory authority imposed in respect of the maintenance of the Commitments or the funding of the
Loans, 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 Term Loan Lender (as determined by such Term Loan 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 Term Loan 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.

 

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

 

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

 

    -41-

     

    

 

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

 

(c)           any
assignment of a LIBOR 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 Term Loan Lender in connection with the foregoing.

 

For purposes of calculating amounts payable by
the Borrower to the Term Loan Lenders under this Section 3.05, each Term Loan Lender shall be deemed to have funded each
LIBOR Loan made by it at LIBOR 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 LIBOR Loan was in fact so funded.

 

3.06        Mitigation
Obligations; Replacement of Lenders. (a) Designation of a Different Lending Office.
If any Term Loan Lender requests compensation under Section 3.04, or the Borrower is required to pay any additional amount
to any Term Loan Lender, or any Governmental Authority for the account of any Term Loan Lender pursuant to Section 3.01,
or if any Term Loan Lender gives a notice pursuant to Section 3.02, then such Term Loan Lender 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 or branches, if, in the judgment of such Term Loan Lender 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 Term
Loan Lender to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Term Loan Lender. The Borrower hereby
agrees to pay all reasonable costs and expenses incurred by any Term Loan Lender in connection with any such designation or assignment.

 

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

 

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

 

ARTICLE IV

CONDITIONS PRECEDENT

 

4.01       Conditions
to the Closing Date. The obligation of each Term Loan Lender to make any Loan hereunder is subject
to satisfaction (or waiver) of the following conditions precedent:

 

(a)           The
Administrative Agent’s receipt of the following, 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 Term Loan Lenders:

 

(i)            executed
counterparts of this Agreement and the Guaranty;

 

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

 

    -42-

     

    

 

(iii)          the
Super Priority Intercreditor Agreement, duly executed by each of the parties thereto;

 

(iv)          the
Fee Letters, duly executed by each of the parties thereto;

 

(v)           the
Security Agreement, duly executed by each Loan Party, together with:

 

(A)          proper
Financing Statements in form appropriate for filing under the Uniform Commercial Code of all jurisdictions that the Required Lenders
may deem necessary or desirable in order to perfect the Liens created under the Security Agreement, covering the Collateral described
in the Security Agreement,

 

(B)           UCC
and Lien searches and other evidence satisfactory to the Administrative Agent (acting at the direction of the Required Lenders) that
Liens in favor of the Administrative Agent are the only Liens upon the Collateral, except Liens permitted under Section 7.01;
and

 

(C)           Evidence
of the completion of all other actions, recordings and filings of or with respect to the Security Agreement that the Required Lenders
may deem necessary or desirable in order to perfect the Liens created thereby (including the receipt of duly executed intellectual property
security agreements with respect to the issued, registered and applied for IP Rights included in the Collateral);

 

(vi)          such
certificates of resolutions or other action, incumbency certificates and/or other certificates of Responsible Officers of each Loan Party
as the Required Lenders 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 or is
to be a party;

 

(vii)         a
favorable written opinion of Weil, Gotshal & Manges LLP, counsel to the Loan Parties, addressed to the Administrative Agent
and each Term Loan Lender, as to the matters concerning the Loan Parties and the Loan Documents as the Required Lenders may reasonably
request;

 

(viii)        such
documents and certifications as the Required Lenders may reasonably require to evidence that each Loan Party is duly organized or formed,
and that the Borrower and each Guarantor is validly existing, in good standing and qualified to engage in business in each jurisdiction
where its ownership, lease or operation of properties or the conduct of its business requires such qualification, except to the extent
that failure to do so could not reasonably be expected to have a Material Adverse Effect;

 

(ix)            a
certificate signed by a Responsible Officer of the Borrower certifying that (A) the representations and warranties of the Borrower
and each other Loan Party 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 in all material respects on and as of the Closing
Date except to the extent that (i) such representations and warranties are qualified by materiality or reference to “Material
Adverse Effect,” in which case such representations and warranties shall be true and correct in all respects, and (ii) that
such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct in all material
respects (without duplication of any materiality qualification applicable thereto) as of such earlier date; provided that for
purposes of this clause (viii), the representations and warranties contained in Sections 5.05(a) and (b) shall
be deemed to refer to the most recent statements furnished pursuant to Section 6.01(b), and (B) no Default or Event
of Default shall exist, or would result from any proposed Borrowing or from the application of the proceeds thereof;

 

    -43-

     

    

 

(x)            a
Funding Notice in accordance with the requirements hereof;

 

(xi)           the
Initial Approved Budget;

 

(xii)          [reserved];

 

(xiii)        Subject
to Section 6.18, evidence that all insurance required to be maintained pursuant to the Loan Documents has been obtained and
is in effect;

 

(xiv)        evidence
that the Third Supplemental Indenture, Ascribe Consent Letter and Closing Date ABL Amendment shall have been (or shall concurrently be)
entered into by the Borrower, in each case on terms and conditions satisfactory to each of the Term Loan Lenders; and

 

(xv)         such
other assurances, certificates, documents, consents, or opinions as the Administrative Agent or the Required Lenders reasonably may require.

 

(b)           [Reserved.]

 

(c)           (i) All
fees and expenses required to be paid to the Administrative Agent on or before the Closing Date pursuant to the Agency Fee Letter shall
have been paid and (ii) all fees required to be paid to the Administrative Agent on behalf of the Term Loan Lenders on or before
the Closing Date pursuant to the Fee Letters shall have been paid.

 

(d)          The
Borrower shall have paid all reasonable and documented out-of-pocket fees, charges and disbursements of counsel to the Administrative
Agent (directly to such counsel if requested by the Administrative Agent), the Specified Lender Advisors, the Ad Hoc Group of Term Loan
Lenders and, solely on account of its reasonable fees relating to this Agreement, the Super Priority Intercreditor Agreement and all
related documentation, Fried, Frank, Harris, Shriver & Jacobson LLP, as counsel to Ascribe, to the extent invoiced at least
one Business Day prior to or on the Closing Date pursuant to the Fee Letters or otherwise.

 

(e)           All
consents, licenses, approvals, waivers, acknowledgements and other agreements 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 shall be in full
force and effect.

 

(f)           There
shall have been appointed one (1) independent director to the board of directors of the Borrower and the existing special restructuring
committee of its board of directors acceptable to the Borrower and the Ad Hoc Group of Term Loan Lenders.

 

(g)          The
Borrower shall have provided, in form and substance satisfactory to the Ad Hoc Group of Term Loan Lenders, all non-privileged minutes
of meetings of the board of directors of the Borrower, all non-privileged presentations and materials provided during such meetings,
and any other non-privileged documents presented to the board of directors of the Borrower at any time within the period that is two
(2) years prior to the Closing Date.

 

(h)            The
Borrower shall have provided, in form and substance satisfactory to the Administrative Agent or any Term Loan Lender, as applicable,
all documentation and other information as the Administrative Agent or any Term Loan Lender deems appropriate in connection with applicable
 "know your customer" and anti-money-laundering rules and regulations, including the Patriot Act and Beneficial Ownership
Regulation. If the Borrower or any other Loan Party qualifies as a "legal entity customer" under the Beneficial Ownership Regulation,
it shall deliver a Beneficial Ownership Certification to the Administrative Agent and the Term Loan Lenders upon request.

 

    -44-

     

    

 

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 Term Loan 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 Term Loan Lender prior to the proposed Closing Date specifying its objection
thereto.

 

The acceptance by the Borrower of the Loans shall
conclusively be deemed to constitute a representation by the Borrower that each of the conditions precedent set forth in this Section 4.01
shall have been satisfied in accordance with its respective terms or has been irrevocably and expressly waived by the applicable
Person.

 

ARTICLE V

REPRESENTATIONS AND WARRANTIES

 

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

 

5.01        Existence,
Qualification and Power. Each Loan Party and each of its Restricted Subsidiaries (a) is
duly organized or formed, validly existing and, as applicable, in good standing under the Laws of the jurisdiction of its incorporation
or organization, (b) has all requisite power and authority and all requisite governmental licenses, authorizations, consents and
approvals to (i) own or lease its assets and carry on its business and (ii) execute, deliver and perform its obligations under
the Loan Documents to which it is a party, and (c) is duly qualified and is licensed and, as applicable, in good standing under
the Laws of each jurisdiction where its ownership, lease or operation of properties or the conduct of its business requires such qualification
or license; except in each case referred to in clause (b)(i) or (c), to the extent that failure to do so could not reasonably be
expected to have a Material Adverse Effect. As of the Closing Date, all information included in any Beneficial Ownership Certification
is true and complete in all respects.

 

5.02        Authorization;
No Contravention. The execution, delivery and performance by each Loan Party of each Loan Document
to which such Person is or is to be a party have been duly authorized by all necessary corporate or other organizational action, and
do not and will not (a) contravene the terms of any of such Person’s Organization Documents; (b) conflict with or result
in any breach or contravention of, under, or require any payment to be made under any Contractual Obligation to which such Person is
a party or affecting such Person or the properties of such Person or any of its Restricted Subsidiaries, except for conflicts, breaches
or contraventions that could not reasonably be expected to result in a Material Adverse Effect, (c) violate any Law or any order,
injunction, writ or decree of any Governmental Authority or any arbitral award to which such Person or its property is subject; or (d) result
in the creation or imposition of any Lien on any property of the Borrower or any Restricted Subsidiary except Liens created under the
Loan Documents.

 

5.03        Governmental
Authorization; Other Consents. No approval, consent, exemption, authorization, or other action
by, or notice to, or filing with, any Governmental Authority or any other Person is necessary or required in connection with (a) the
execution, delivery or performance by, or enforcement against, any Loan Party of this Agreement or any other Loan Document, (b) the
grant by any Loan Party of the Liens granted by it pursuant to the Collateral Documents, (c) the perfection or continuance of the
Liens created under the Collateral Documents (including the first priority nature thereof) or (d) the exercise by the Administrative
Agent or any Term Loan Lender of its rights under the Loan Documents or the remedies in respect of the Collateral pursuant to the Collateral
Documents, except for the authorizations, approvals, actions, notices and filings which (i) have been duly obtained, taken, given
or made and are in full force and effect, (ii) are required by the Loan Documents or (iii) in the case of any authorization,
approval, action, notice or filing from or with a Person other than a Governmental Authority, the failure to have could not, individually
or in the aggregate, reasonably be expected to have a Material Adverse Effect.

 

    -45-

     

    

 

5.04        Binding
Effect. 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. This Agreement constitutes, and each other Loan Document
when so delivered will constitute, a legal, valid and binding obligation of such Loan Party, enforceable against each Loan Party that
is party thereto in accordance with its terms except as such enforcement may be limited by bankruptcy, insolvency or similar Laws of
general application relating to the enforcement of creditors’ rights and by general principles of equity.

 

5.05        Financial
Statements; No Material Adverse Effect. (a) The Audited Financial Statements (i) were
prepared in accordance with GAAP consistently applied throughout the period covered thereby, except as otherwise expressly noted therein;
(ii) fairly present in all material respects the financial condition of the Borrower and its Subsidiaries as of the date thereof
and their results of operations for the period covered thereby in accordance with GAAP consistently applied throughout the period covered
thereby, except as otherwise expressly noted therein; and (iii) show or describe all material indebtedness and other liabilities,
direct or contingent, of the Borrower and its Subsidiaries as of the date thereof, including liabilities for taxes, material commitments
and Indebtedness.

 

(b)           There
has been no Material Adverse Effect since December 31, 2020.

 

(c)           The
consolidated forecasted balance sheet, statements of income and cash flows of the Borrower and its Subsidiaries delivered pursuant to
Section 6.01(c) were prepared in good faith on the basis of the assumptions stated therein, which assumptions were fair
in light of the conditions existing at the time of delivery of such forecasts, and represented, at the time of delivery, the Borrower’s
best estimate of its future financial condition and performance, recognizing that there are industry-wide risks normally associated with
the types of business conducted by the Borrower and its Subsidiaries and that the Borrower does not warrant that such forecasts and estimates
will ultimately prove to have been accurate.

 

5.06        Litigation.
There are no actions, suits, proceedings, claims or disputes pending or, to the knowledge of the Borrower, threatened or contemplated,
at law, in equity, in arbitration or before any Governmental Authority, by or against the Borrower or any of its Subsidiaries or against
any of their properties or revenues, of the Borrower or the Restricted Subsidiaries, that (a) purport to affect or pertain to this
Agreement or any other Loan Document, or (b) either individually or in the aggregate, if determined adversely, could reasonably
be expected to have a Material Adverse Effect.

 

5.07        No
Default. No Default or Event of Default has occurred and is continuing.

 

5.08       Ownership
of Property; Liens; Investments. Each Loan Party and each of its Restricted Subsidiaries has
good title to, or valid leasehold interests in, all of their respective property necessary or used in the ordinary conduct of its business,
except for such defects in title as could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.

 

5.09        Environmental
Compliance. (a) The Loan Parties and their respective Subsidiaries conduct in the ordinary
course of business a review of the effect of existing Environmental Laws and claims alleging potential liability or responsibility for
violation of any Environmental Law on their respective businesses, operations and properties, and as a result thereof the Borrower has
reasonably concluded that such Environmental Laws and claims could not, individually or in the aggregate, reasonably be expected to have
a Material Adverse Effect.

 

    -46-

     

    

 

(b)           None
of the properties currently owned or operated or, to the knowledge of any Loan Party, formerly owned or operated, by any Loan Party or
any of its Subsidiaries is listed or proposed for listing on the NPL or on the SEMS or any analogous foreign, state or local list or
is adjacent to any such property. Except as in accordance in all material respects with the requirements of all Environmental Laws: (i) there
are no and never have been any underground or above-ground storage tanks or any surface impoundments, septic tanks, pits, sumps or lagoons
in which Hazardous Materials are being or have been treated, stored or disposed on any property currently owned or operated by any Loan
Party or any of its Subsidiaries or, to the best of the knowledge of the Loan Parties, on any property formerly owned or operated by
any Loan Party or any of its Subsidiaries and (ii) Hazardous Materials have not been released, discharged or disposed of on any
property currently or formerly owned or operated by or otherwise arising from the operations of any Loan Party or any of its Subsidiaries.
Except as could not, individually or in the aggregate, reasonably be expected to cause a Material Adverse Effect, there is no asbestos
or asbestos-containing material on any property currently owned or operated by any Loan Party or any of its Subsidiaries.

 

(c)           Neither
any Loan Party nor any of its Subsidiaries is undertaking, and has not completed, either individually or together with other potentially
responsible parties, any investigation or assessment or remedial or response action relating to any actual or threatened release, discharge
or disposal of Hazardous Materials at any site, location or operation, either voluntarily or pursuant to the order of any Governmental
Authority or the requirements of any Environmental Law except for any investigations, assessments or remedial or response actions not
reasonably expected to result in any material liability to any Loan Party or any of its Subsidiaries. All Hazardous Materials generated,
used, treated, handled or stored at, or transported to or from, any property currently or formerly owned or operated by any Loan Party
or any of its Subsidiaries have been disposed of in accordance with the requirements of all Environmental Laws in all material respects
and in a manner not reasonably expected to result in material liability to any Loan Party or any of its Subsidiaries.

 

(d)          The
Borrower and each of its Subsidiaries have obtained all Environmental Permits necessary for the ownership and operation of its properties
and assets and the conduct of its business except where the failure to do so could, either individually or in the aggregate, reasonably
be expected to result in material liability to any Loan Party or any of its Subsidiaries. Except where the failure to do so could not,
either individually or in the aggregate, reasonably be expected to cause a Material Adverse Effect, the Borrower and each of its Subsidiaries
have been and are in compliance with all terms and conditions of such Environmental Permits. There are no pending or, to the knowledge
of the Borrower, threatened, claims against the Borrower or any Subsidiary under any Environmental Laws and neither the Borrower
nor any Subsidiary has received any written notice of alleged non-compliance with applicable Environmental Laws or Environmental Permits
which could, in each case, either individually or in the aggregate, reasonably be expected to (i) cause a Material Adverse Effect
or (ii) result in material liability to any Loan Party or any of its Subsidiaries.

 

5.10        Insurance.
The properties of the Borrower and its Restricted Subsidiaries are insured with financially sound and reputable insurance companies not
Affiliates of the Borrower, in such amounts (after giving effect to any self-insurance compatible with the following standards), 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 or the applicable Restricted Subsidiary operates.

 

5.11        Taxes.
The Borrower and its Restricted Subsidiaries have 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 the Borrower or any Restricted Subsidiary that would, if made, have a Material Adverse Effect. Neither any Loan Party
nor any Subsidiary thereof is party to any Tax sharing agreement.

 

5.12        ERISA
Compliance.

 

(a)           There
are no pending or, to the best knowledge of the Borrower, threatened claims, actions or lawsuits, or action by any Governmental Authority,
with respect to any Plan that could reasonably be expected to have a Material Adverse Effect. There has been no prohibited transaction
or violation of the fiduciary responsibility rules with respect to any Plan that has resulted or could reasonably be expected to
result in a Material Adverse Effect.

 

    -47-

     

    

 

(b)           Except
as could not, either individually or in the aggregate, reasonably be expected to cause a Material Adverse Effect: (i) no ERISA Event
has occurred, and neither the Borrower nor any ERISA Affiliate is aware of any fact, event or circumstance that could reasonably be expected
to constitute or result in an ERISA Event with respect to any Pension Plan; (ii) the Borrower and each ERISA Affiliate has met all
applicable requirements under the Pension Funding Rules in respect of each Pension Plan, and no waiver of the minimum funding standards
under the Pension Funding Rules has been applied for or obtained; (iii) as of the most recent valuation date for any Pension
Plan, the funding target attainment percentage (as defined in Section 430(d)(2) of the Code) is 60% or higher and neither the
Borrower nor any ERISA Affiliate knows of any facts or circumstances that could reasonably be expected to cause the funding target attainment
percentage for any such plan to drop below 60% as of the most recent valuation date; (iv) neither the Borrower nor any ERISA Affiliate
has incurred any liability to the PBGC other than for the payment of premiums, and there are no premium payments which have become due
that are unpaid; (v) neither the Borrower nor any ERISA Affiliate has engaged in a transaction that could be subject to Section 4069
or Section 4212(c) of ERISA; (vi) no Pension Plan has been terminated by the plan administrator thereof nor by the PBGC,
and no event or circumstance has occurred or exists that could reasonably be expected to cause the PBGC to institute proceedings under
Title IV of ERISA to terminate any Pension Plan; and (vii) the Borrower and each ERISA Affiliate have maintained each Plan (other
than a Multiemployer Plan) in compliance with the applicable provisions of ERISA, the Code and other federal or state laws.

 

5.13        Subsidiaries;
Equity Interests; Loan Parties. As of the Closing Date, no Loan Party has any Subsidiaries other
than those specifically disclosed in Part (a) of Schedule 5.13, and all of the outstanding Equity Interests in such
Subsidiaries have been validly issued, are fully paid and non-assessable and are owned by a Loan Party in the amounts specified on Part (a) of
Schedule 5.13 free and clear of all Liens except those permitted under Section 7.01. As of the Closing Date,
no Loan Party has any equity investments in any other corporation or entity other than those specifically disclosed in Part (b) of
Schedule 5.13. Set forth on Part (c) of Schedule 5.13 is a complete and accurate list of all Loan Parties, showing
as of the Closing Date (as to each Loan Party) the jurisdiction of its incorporation, the address of its principal place of business
and its U.S. taxpayer identification number or, in the case of any non-U.S. Loan Party that does not have a U.S. taxpayer identification
number, its unique identification number issued to it by the jurisdiction of its incorporation. As of the Closing Date, there are no
Unrestricted Subsidiaries.

 

5.14        Margin
Regulations; Investment Company Act. (a) The Borrower is not engaged and will not engage,
principally or as one of its important activities, in the business of purchasing or carrying margin stock (within the meaning of Regulation
U issued by the FRB), or extending credit for the purpose of purchasing or carrying margin stock. Following the application of the proceeds
of the initial Loan, not more than 25% of the value of the assets (either of the Borrower only or of the Borrower and its Subsidiaries
on a consolidated basis) subject to the provisions of Section 7.01 or Section 7.05 or subject to any restriction
contained in any agreement or instrument between the Borrower and any Term Loan Lender or any Affiliate of any Term Loan Lender relating
to Indebtedness and within the scope of Section 8.01(e) will be margin stock.

 

(b)           None
of the Borrower, any Person Controlling the Borrower, or any Subsidiary is or is required to be registered as an “investment company”
under the Investment Company Act of 1940.

 

    -48-

     

    

 

5.15        Disclosure.
The Borrower has disclosed to the Administrative Agent and the Term Loan Lenders all agreements, instruments and corporate or other restrictions
to which it or any of its Subsidiaries or any other Loan Party is subject, and all other matters known to it, that, individually or in
the aggregate, could reasonably be expected to result in a Material Adverse Effect. No report, financial statement, certificate or other
information furnished by or on behalf of any Loan Party to the Administrative Agent or any Term Loan Lender in connection with the transactions
contemplated hereby and the negotiation of this Agreement or delivered hereunder or under any other Loan Document (in each case as modified
or supplemented by other information so furnished), when taken as a whole, contains any material misstatement of fact or omits to state
any material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading;
provided that, with respect to projections, budgets, estimates and other forward looking statements, the Borrower represents only
that such information was prepared in good faith based upon assumptions believed to be reasonable at the time, recognizing that there
are industry-wide risks normally associated with the types of business conducted by the Borrower and its Subsidiaries and that the Borrower
does not warrant that such projections, budgets, estimates and other forward looking statements will ultimately prove to have been accurate.

 

5.16        Compliance
with Laws. Each Loan Party and each Restricted Subsidiary thereof is in compliance in all material
respects with the requirements of all Laws and all orders, writs, injunctions and decrees applicable to it or to its properties, except
in such instances in which (a) such requirement of Law or order, writ, injunction or decree is being contested in good faith by
appropriate proceedings diligently conducted or (b) the failure to comply therewith, either individually or in the aggregate, could
not reasonably be expected to have a Material Adverse Effect.

 

5.17        Intellectual
Property; Licenses, Etc.. The Borrower and each of its Restricted Subsidiaries own, or possess
the right to use, all of the trademarks, service marks, trade names, copyrights, patents, patent rights, franchises, licenses and other
intellectual property rights (collectively, “IP Rights”) that are reasonably necessary for the operation of their
respective businesses, without conflict with the rights of any other Person to the extent such conflict could reasonably be expected
to have a Material Adverse Effect. To the best knowledge of the Borrower, no slogan or other advertising device, product, process, service,
method, substance, part or other material now employed, or now contemplated to be employed, by the Borrower or any of its Restricted
Subsidiaries infringes upon, misappropriates or otherwise violates any rights held by any other Person. No claim or litigation regarding
any of the foregoing is pending or, to the best knowledge of the Borrower, threatened, which, either individually or in the aggregate,
could reasonably be expected to have a Material Adverse Effect.

 

5.18   
     [Reserved].

 

5.19        Casualty,
Etc. Neither the businesses nor the properties of any Loan Party or any of its Restricted Subsidiaries
are affected by any fire, explosion, accident, strike, lockout or other labor dispute, drought, storm, hail, earthquake, embargo, act
of God or of the public enemy or other casualty (whether or not covered by insurance) that, either individually or in the aggregate,
could reasonably be expected to have a Material Adverse Effect.

 

5.20        Labor
Matters. There are no collective bargaining agreements or Multiemployer Plans covering the employees
of the Borrower or any of its Restricted Subsidiaries as of the Closing Date and neither the Borrower nor any Restricted Subsidiary has
suffered any strikes, walkouts, work stoppages or other material labor difficulty within the last five years.

 

5.21        Collateral
Documents. The provisions of the Collateral Documents are effective to create in favor of the
Administrative Agent for the benefit of the Secured Parties a legal, valid and enforceable first priority Lien (subject to Liens permitted
by Section 7.01) on all right, title and interest of the respective Loan Parties in the Collateral described therein. Except
for filings completed prior to the Closing Date and as contemplated hereby and by the Collateral Documents and for such other action
completed on or prior to the Closing Date, no filing or other action will be necessary to perfect or protect such Liens.

 

5.22        Sanctions
Concerns. No Loan Party, nor any Subsidiary, nor, to the knowledge of the Loan Parties and their
Subsidiaries, any director, officer, employee, agent, affiliate or representative thereof, is an individual or entity that is, or is
owned or controlled by any individual or entity that is, (a) currently the subject or target of any Sanctions or (b) located,
organized or resident in a Designated Jurisdiction.

 

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

 

    -49-

     

    

 

 

5.24        Debt
Documents Compliance. None of (a) the execution or performance of the Loan Documents, (b) the
incurrence of any Obligations by the Loan Parties, (c) the granting of any Liens securing the Obligations, or (d) any of the
transactions contemplated by this Agreement or any other Loan Document violates the Senior Notes Indenture, the other Senior Notes Documents,
the ABL Facility, the March 2020 Note, the Second Lien Note, or any other Indebtedness for borrowed money.

 

ARTICLE VI

AFFIRMATIVE COVENANTS

 

So long as any Term Loan
Lender shall have any Commitment hereunder, any Term Loan or other Obligation hereunder shall remain unpaid or unsatisfied, the Borrower
shall, and shall (except in the case of the covenants set forth in Sections 6.01, 6.02, 6.03 and 6.11) cause
each Restricted Subsidiary to:

 

6.01        Financial
Statements. Deliver to the Administrative Agent and Term Loan Lender Advisors:

 

(a)            [reserved];

 

(b)            as
soon as available, but in any event within 45 days after the end of each of the first three fiscal quarters of each fiscal year of the
Borrower (or, if earlier, 5 days after the date required to be filed with the SEC (without giving effect to any extension permitted by
the SEC)) (commencing with the fiscal quarter ending June 30, 2021), a consolidated balance sheet of the Borrower and its Subsidiaries
as at the end of such fiscal quarter, and the related consolidated statements of income or operations, changes in shareholders’
equity, and cash flows for such fiscal quarter and for the portion of the Borrower’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, certified by the chief executive officer, chief financial officer, treasurer or controller
of the Borrower as fairly presenting in all material respects the financial condition, results of operations, shareholders’ equity
and cash flows of the Borrower and its Subsidiaries in accordance with GAAP, subject only to normal year-end audit adjustments and the
absence of footnotes;

 

(c)            [reserved];
and

 

(d)            commencing
with the month ending April 30, 2021, as soon as available but in any event not later than the thirtieth (30th) day after the end
of month, a consolidated balance sheet of the Borrower and its Subsidiaries as at the end of such month, and the related consolidated
income statement in the form previously agreed to by the Term Loan Lender Advisors and the Borrower, which statement shall include capital
expenditures.

 

6.02        Certificates;
Other Information. Deliver to the Administrative Agent and the Term Loan Lender Advisors:

 

(a)            [reserved];

 

(b)            concurrently
with the delivery of the financial statements referred to in Section 6.01(b), a duly completed Compliance Certificate, signed
by a Responsible Officer of the Borrower (which delivery may, unless the Administrative Agent, or a Term Loan Lender requests executed
originals, be by electronic communication including fax or email and shall be deemed to be an original authentic counterpart thereof
for all purposes);

 

(c)            promptly
after any request by the Administrative Agent or any Term Loan Lender, copies of any detailed audit reports, management letters or recommendations
submitted to the board of directors (or the audit committee of the board of directors) of any Loan Party by independent accountants in
connection with the accounts or books of any Loan Party or any of its Subsidiaries, or any audit of any of them;

 

    -50-

     

    

 

(d)           [reserved];

 

(e)            promptly
after the furnishing thereof, copies of any statement or report furnished to any holder of debt securities of any Loan Party or of any
of its Restricted Subsidiaries pursuant to the terms of the Senior Notes Indenture or any other indenture, loan or credit or similar
agreement (including, without limitation, the ABL Credit Agreement, the March 2020 Note and/or the Second Lien Note) and not otherwise
required to be furnished to the Term Loan Lenders pursuant to Section 6.01 or any other clause of this Section 6.02;

 

(f)            [reserved];

 

(g)            promptly,
and in any event within five (5) Business Days after receipt thereof by any Loan Party or any Restricted Subsidiary thereof, copies
of each notice or other correspondence received from the SEC (or comparable agency in any applicable non-U.S. jurisdiction) concerning
any investigation or possible investigation or other inquiry by such agency regarding financial or other operational results of any Loan
Party or any Subsidiary thereof;

 

(h)            not
later than five (5) Business Days after receipt thereof by any Loan Party or any Subsidiary thereof, copies of all material notices,
requests and other documents (including amendments, waivers and other modifications) received under or pursuant to the Senior Notes Indenture
or any other instrument, indenture, loan or credit or similar agreement (including, without limitation, the ABL Credit Agreement, the
March 2020 Note and/or the Second Lien Note) and, from time to time upon request by the Administrative Agent (at the direction of
the Required Lenders), such information and reports regarding the Senior Notes Indenture and such other instruments, indentures and loan
and credit and similar agreements (including, without limitation, the ABL Credit Agreement, the March 2020 Note and/or the Second
Lien Note) as the Administrative Agent (at the direction of the Required Lenders) may reasonably request;

 

(i)             promptly
after the assertion or occurrence thereof, notice of any action or proceeding against or of any noncompliance by any Loan Party or any
of its Subsidiaries with any Environmental Law or Environmental Permit that could reasonably be expected to have a Material Adverse Effect;

 

(j)             promptly
after the request of any Term Loan Lender Advisor, (x) all legal and business due diligence reasonably requested by such Term Loan
Lender Advisor and (y) subject to privilege, all emails and all other documents and communications related to historical transactions
and arrangements requested by any Term Loan Lender Advisor; and

 

(k)            promptly,
such additional information regarding the business, financial, legal or corporate affairs of any Loan Party or any Subsidiary thereof,
or compliance with the terms of the Loan Documents, as the Administrative Agent or any Term Loan Lender may from time to time reasonably
request, including without limitation, information 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.

 

Documents required to be delivered pursuant to
Section 6.01(b) (to the extent any such documents are included in materials otherwise filed with the SEC) may be delivered
electronically and if so delivered, shall be deemed to have been delivered on the date (i) on which the Borrower posts such documents,
or provides a link thereto on the Borrower’s website on the Internet at the website address listed on Schedule 10.02; or
(ii) on which such documents are posted on the Borrower’s behalf on an Internet or intranet website, if any, to which each
Term Loan Lender and the Administrative Agent have access (whether a commercial, third-party website or whether sponsored by the Administrative
Agent); provided that: (i) the Borrower shall deliver paper copies of such documents to the Administrative Agent or any Term
Loan Lender upon its request to the Borrower to deliver such paper copies until a written request to cease delivering paper copies is
given by the Administrative Agent or such Term Loan Lender and (ii) the Borrower shall notify the Administrative Agent and each
Term Loan Lender (by fax transmission or e-mail) of the posting of any such documents and provide to the Administrative Agent by electronic
mail electronic versions (i.e., soft copies) of such documents. The Administrative Agent shall have no obligation to request the delivery
of or to maintain paper copies of the documents referred to above, and in any event shall have no responsibility to monitor the contents
of such documents or the compliance by the Borrower with any such request by a Term Loan Lender for delivery, and each Term Loan Lender
shall be solely responsible for requesting delivery to it or maintaining its copies of such documents.

 

    -51-

     

    

 

The Borrower hereby acknowledges that (a) the
Administrative Agent will make available to the Term Loan Lenders materials and/or information provided by or on behalf of the Borrower
hereunder (collectively, “Borrower Materials”) by posting the Borrower Materials on IntraLinks, Debt Domain, Syndtrak,
ClearPar, or another similar electronic system (the “Platform”) and (b) certain of the Term Loan 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 it will use commercially reasonable efforts
to identify that portion of the Borrower Materials that may be distributed to the Public Lenders and that (w) all such Borrower
Materials shall be clearly and conspicuously marked “PUBLIC” which, at a minimum, shall mean that the word “PUBLIC”
shall appear prominently on the first page thereof; (x) by marking Borrower Materials “PUBLIC,” the Borrower
shall be deemed to have authorized the Administrative Agent and the Term Loan Lenders to treat such Borrower Materials as not containing
any material non-public information (although it may be sensitive and proprietary) 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 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”.

 

6.03        Notices.
Promptly notify the Administrative Agent and each Term Loan Lender:

 

(a)            of
the occurrence of any Default or Event of Default;

 

(b)           (i) the
breach or non-performance of, or any default under, a Contractual Obligation of the Borrower or any Restricted Subsidiary; (ii) any
dispute, litigation, investigation, proceeding or suspension between the Borrower or any Restricted Subsidiary and any Governmental Authority;
(iii) the commencement of, or any development in, any litigation or proceeding affecting the Borrower or any Restricted Subsidiary,
including pursuant to any applicable Environmental Laws, or (iv) any other matter, in each case, that has resulted or could reasonably
be expected to result in a Material Adverse Effect;

 

(c)            the
commencement of, or any material development in, any investigation, litigation or proceeding affecting the Borrower or any Restricted
Subsidiary pursuant to any applicable Environmental Laws which could, either individually or in the aggregate, reasonably be expected
to result in material liability to any Loan Party or any of its Restricted Subsidiaries;

 

(d)            of
the occurrence of any ERISA Event; and

 

(e)            of
any material change in accounting policies or financial reporting practices by any Loan Party or any Subsidiary thereof.

 

Each notice pursuant to Section 6.03
shall be accompanied by a statement of a Responsible Officer of the Borrower setting forth details of the occurrence referred to
therein and stating what action the Borrower 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.

 

    -52-

     

    

 

6.04        Payment
of Taxes. 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, 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 Borrower or such Restricted
Subsidiary or if failure to make such payment could not reasonably be expected to have a Material Adverse Effect.

 

6.05        Preservation
of Existence, Etc.. (a) Preserve, renew and maintain in full force and effect the Borrower’s
and the Loan Parties’ legal existence and good standing under the Laws of the jurisdiction of its organization except in a transaction
permitted by Section 7.04 or 7.05; (b) take all reasonable action to maintain all rights, privileges, permits,
licenses and franchises necessary or desirable in the normal conduct of its business, except to the extent that failure to do so could
not reasonably be expected to have a Material Adverse Effect; and (c) preserve or renew all of its registered patents, trademarks,
trade names and service marks, the non-preservation or non-renewal of which could reasonably be expected to have a Material Adverse Effect.

 

6.06        Maintenance
of Properties. (a) Maintain, preserve and protect all of its material properties and equipment
necessary in the operation of its business in good working order and condition, ordinary wear and tear excepted; (b) make all necessary
repairs thereto and renewals and replacements thereof except where the failure to do so could not reasonably be expected to have a Material
Adverse Effect; and (c) use the standard of care typical in the industry in the operation and maintenance of its facilities.

 

6.07        Maintenance
of Insurance. (a) Maintain insurance with respect to the Collateral, covering casualty,
hazard, theft, malicious mischief, flood and other risks, in amounts, with endorsements and with insurers (with a Best’s Financial
Strength Rating of at least A+, unless otherwise approved by the Required Lenders in their discretion) satisfactory to the Required Lenders.
All proceeds under each policy covering Collateral shall be payable to the Administrative Agent as a lender loss payee/mortgagee. From
time to time upon request, the Borrower shall deliver to the Administrative Agent the originals or certified copies of its insurance
policies. Unless the Administrative Agent (at the direction of the Required Lenders) shall agree otherwise, each policy shall include
satisfactory endorsements that (i) provide for not less than 30 days prior notice to the Administrative Agent of termination, lapse
or cancellation of such insurance, (ii) with respect to insurance covering Collateral, name the Administrative Agent as loss payee/mortgagee
and additional insured, and (iii) specify that the interest of the Administrative Agent shall not be impaired or invalidated by
any act or negligence of any Loan Party or the owner of the property, nor by the occupation of the premises for purposes more hazardous
than are permitted by the policy. If the Borrower fails to provide and pay for any insurance, the Administrative Agent may, at its option,
but shall not be required to, procure the insurance and charge the Borrower therefor. The Borrower agrees to deliver to the Administrative
Agent, promptly as rendered, copies of all reports made to insurance companies. While no Event of Default exists, the Loan Parties may
settle, adjust or compromise any insurance claim, as long as the proceeds are delivered to the Administrative Agent. If an Event of Default
exists, only the Administrative Agent (at the direction of the Required Lenders) shall be authorized to settle, adjust and compromise
such claims.

 

(b)           In
addition to the insurance required under clause (a) with respect to Collateral, maintain insurance with insurers (with a Best’s
Financial Strength Rating of at least A+, unless otherwise approved by the Required Lenders in their discretion) satisfactory to the
Required Lenders, with respect to the properties and business of the Loan Parties, of such type (including product liability, workers’
compensation, larceny, embezzlement, or other criminal misappropriation insurance), in such amounts, and with such coverages and deductibles
as are at the time of placing such insurance customary for companies similarly situated and which are available at commercially reasonable
rates.

 

6.08        Compliance
with Laws. Comply in all material respects with the requirements of all Laws (including Anti-Terrorism
Laws) and all orders, writs, injunctions and decrees applicable to it or to its business or property, except in such instances in which
(a) such requirement of Law or order, writ, injunction or decree is being contested in good faith by appropriate proceedings diligently
conducted; or (b) the failure to comply (other than failure to comply with Anti-Terrorism Laws) therewith could not reasonably be
expected to have a Material Adverse Effect.

 

    -53-

     

    

 

6.09        Books
and Records.     (a)      Maintain proper books of record and account,
in which full, true and correct entries in conformity with GAAP consistently applied shall be made of all financial transactions and
matters involving the assets and business of the Borrower or such Restricted Subsidiary, as the case may be; and (b) maintain
such books of record and account in material conformity with all applicable requirements of any Governmental Authority having
regulatory jurisdiction over the Borrower or such Restricted Subsidiary, as the case may be.

 

6.10        Inspection
Rights.        (a)     Permit representatives and independent contractors of the Administrative Agent
and each Term Loan 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 as often as may be reasonably desired, upon reasonable
advance notice to the Borrower; provided, however, that when an Event of Default exists the Administrative Agent or any Term Loan Lender
(or any of their respective representatives or independent contractors) may do any of the foregoing at the expense of the Borrower at
any time during normal business hours and without advance notice.

 

(b)           [Reserved].

 

6.11        Use
of Proceeds. Use the proceeds of the Loans for working capital and other general corporate purposes,
including any use permitted by the Loan Documents in each case not in contravention of any Law or of any Loan Document and in accordance
with the Approved Budget (subject to Permitted Variances). Until the disbursement of the proceeds of the Loans in accordance with this
Section 6.11, the Borrower shall at all times hold such proceeds in a Collateral Account.

 

6.12        Covenant
to Guarantee Obligations and Give Security. (a) With respect to any Person that becomes
a direct or indirect Subsidiary after the Closing Date, the Borrower shall, at the Borrower’s expense:

 

(i)             within
fifteen (15) days after such formation, acquisition or a Subsidiary ceasing to be an Immaterial Domestic Subsidiary (or such longer period
as may be agreed by the Administrative Agent (acting at the direction of the Required Lenders in their sole discretion), cause such Subsidiary,
and cause each direct and indirect parent of such Subsidiary (if it has not already done so), to duly execute and deliver to the Administrative
Agent a guaranty or guaranty supplement, in form and substance satisfactory to the Required Lenders, guaranteeing the other Loan Parties’
obligations under the Loan Documents;

 

(ii)            within
15 days after such formation, acquisition or such Subsidiary ceasing to be an Immaterial Domestic Subsidiary (or such longer period as
may be agreed by the Administrative Agent (acting at the direction of the Required Lenders in their sole discretion), cause such Subsidiary
and each direct and indirect parent of such Subsidiary (if it has not already done so) to duly execute and deliver to the Administrative
Agent a Security Agreement Supplement and other security and pledge agreements, as specified by and in form and substance satisfactory
to the Required Lenders (including delivery of other instruments of the type specified in Section 4.01(a)(iv)), securing
payment of all the Obligations of such Subsidiary or such parent, as the case may be, under the Loan Documents and constituting Liens
on all such property (other than Excluded Properties) purported to be subject to such Collateral Document;

 

    -54-

     

    

 

(iii)           within
fifteen (15) days after such formation, acquisition or such Subsidiary ceasing to be an Immaterial Domestic Subsidiary (or such longer
period as may be agreed by the Administrative Agent (acting at the direction of the Required Lenders in their sole discretion), cause
such Subsidiary and each direct and indirect parent of such Subsidiary (if it has not already done so) to take whatever action (including
the filing of Uniform Commercial Code financing statements, the execution and filing of intellectual property security agreements, the
giving of notices and the endorsement of notices on title documents) may be necessary or advisable or otherwise reasonably requested
by the Administrative Agent (acting at the direction of the Required Lenders) to vest in the Administrative Agent (or in any representative
of the Administrative Agent designated by it) valid and subsisting Liens on the properties purported to be subject to the Security Agreement
Supplement and security and pledge agreements delivered pursuant to this Section 6.12, enforceable against all third parties
in accordance with their terms, and

 

(iv)          [reserved].

 

(b)           Upon
the acquisition of any property by any Loan Party of a type that is intended to be Collateral (or acquisition of any Subsidiary owning
such property), if such property, shall not already be subject to a perfected security interest in favor of the Administrative Agent
for the benefit of the Secured Parties, then the Borrower shall, at the Borrower’s expense:

 

(i)             within
fifteen (15) days after such acquisition (or such longer period as may be agreed by the Administrative Agent (acting at the direction
of the Required Lenders in their sole discretion), furnish to the Administrative Agent a description of the property so acquired in detail
satisfactory to the Required Lenders,

 

(ii)            within
fifteen (15) days after such acquisition (or such longer period as may be agreed by the Required Lenders in their sole discretion), (A) cause
the applicable Loan Party to duly execute and deliver to the Administrative Agent Security Agreement Supplements and other security and
pledge agreements, as specified by and in form and substance satisfactory to the Required Lenders, securing payment of all the Obligations
of the applicable Loan Party under the Loan Documents and constituting Liens on all such personal properties and (B) cause the applicable
Loan Party to take whatever action (including the filing of Uniform Commercial Code financing statements, the execution and filing of
intellectual property security agreements, the giving of notices and the endorsement of notices on title documents) may be necessary
or reasonably requested by the Administrative Agent at the direction of the Required Lenders to vest in the Administrative Agent (or
in any representative of the Administrative Agent designated by it) valid and subsisting Liens on such property, enforceable against
all third parties, and

 

(iii)           [reserved].

 

(c)           At
any time upon request of the Administrative Agent (at the direction of the Required Lenders), promptly execute and deliver any and all
further instruments and documents and take all such other action as is necessary or that the Administrative Agent (acting at the direction
of the Required Lenders) may reasonably request in obtaining the full benefits of, or (as applicable) in perfecting and preserving the
Liens of, such guaranties, Security Agreement Supplements and other security and pledge agreements.

 

(d)           Upon
any Subsidiary that becoming a guarantor or obligor of the ABL Facility, the Senior Notes, the other Senior Notes Documents, the March 2020
Note, the Second Lien Note or any other Indebtedness, such Person shall be deemed to be a “Guarantor” for purposes of this
Agreement and the Borrower shall promptly cause such Person to duly execute and deliver to the Administrative Agent a guaranty or guaranty
supplement, in form and substance satisfactory to the Required Lenders, guaranteeing the other Loan Parties’ obligations under
the Loan Documents and to deliver such other Loan Documents and take such other actions specified in clause (a) above within the
time frames specified therein.

 

(e)            [reserved]

 

    -55-

     

    

 

(f)            Subject
in all respects to Section 6.18 and the requirements set forth on Schedule 6.18, with respect to any Material Real
Property owned by the Borrower or a Guarantor on the Closing Date or acquired after the Closing Date (or owned by a Subsidiary acquired
after the Closing Date), within 15 days after the request of the Administrative Agent (acting at the direction of the Required Lenders):

 

(i)             the Administrative Agent shall have received (A) fully
executed counterparts of a Mortgage creating a valid, perfected Lien, subject to no Liens other than Liens permitted by Section 7.01,
against the property purported to be covered thereby (other than any Material Real Property or portion thereof that constitutes
Excluded Property pursuant to the last paragraph of the definition thereof) as security for the Obligations, (B) a
fully-executed subordination confirmation in recordable form from the mortgagee or similar party under any existing mortgage or deed
of trust of record with respect to such Material Real Property, and (C) confirmation from the title insurance company insuring
the lien of such Mortgage of completion (or reasonably satisfactory arrangements for the completion) of all recordings and filings
of such Mortgage;

 

(ii)            with
respect to each Mortgage, the Administrative Agent shall have received a lender’s title insurance policy in favor of the Administrative
Agent, and its successors and/or assigns, in the form necessary, with respect to the property purported to be covered by the applicable
Mortgages, to insure that the interests created by such Mortgages constitute valid Liens thereon free and clear of all Liens, defects
and encumbrances other than Liens permitted by Section 7.01, provided, however, no such title insurance policy
will be required to be delivered with respect to such Mortgage where the property encumbered thereby consists primarily of easements,
rights of way, licenses and other similar possessory and use instruments. All such title policies shall be in amounts equal to 110% of
the estimated fair market value of the Premises covered thereby, and such policies shall include, to the extent available at a commercially
reasonable premium, all endorsements as shall be reasonably required in transactions of similar size and purpose and shall be accompanied
by evidence of the payment in full by the Borrower or the applicable Guarantor of all premiums thereon (or that satisfactory arrangements
for such payment have been made);

 

(iii)           the
Borrower shall, or shall cause the Guarantors to, deliver to the title company such filings, surveys (or any updates or affidavits that
the title company may reasonably require in connection with the issuance of the title insurance), fixture filings and such other documents,
instruments, certificates, agreements and/or other documents as reasonably required by the Administrative Agent (acting at the direction
of the Required Lenders);

 

(iv)           an
opinion of local counsel, with respect to the Mortgages and fixture filings, that the applicable Mortgage (i) has been duly authorized,
executed and delivered by the Borrower or applicable Guarantor, (ii) is an enforceable agreement against the Borrower or applicable
Guarantor, as the case may be, and (iii) is in form sufficient to create a valid Lien with respect to the Material Real Estate Property
described in the Mortgage;

 

(v)            if
requested by any Required Lenders, no later than three (3) Business Days prior to the delivery of the Mortgage, the following documents
and instruments, in order to comply with the Flood Insurance Laws and related legislation (including the regulations of the Board of
Governors of the Federal Reserve System): (A) a completed standard flood hazard determination form and (B) if the improvement(s) to
the improved real property is located in a special flood hazard area, a notification to the Borrower (“Borrower Notice”)
and, if applicable, notification to the Borrower that flood insurance coverage under the National Flood Insurance Program (“NFIP”)
is not available because the community does not participate in the NFIP, documentation evidencing the Borrower’s receipt of the
Borrower Notice and (C) if the Borrower Notice is required to be given and flood insurance is available in the community in which
the property is located, a copy of the flood insurance policy, the Borrower’s application for a flood insurance policy plus proof
of premium payment, a declaration page confirming that flood insurance has been issued, or such other evidence of flood insurance
satisfactory to the Required Lenders; and

 

    -56-

     

    

 

(vi)          the
title insurance company shall have received, with respect to the applicable Mortgage, such affidavits, certificates, information (including
publicly-available financial data) and instruments of indemnification (including a so-called “gap” indemnification) as shall
be reasonably requested by the title insurance company to issue the mortgagee’s title insurance policies contemplated above.

 

(g)           With
respect to any Material Real Property acquired by the Borrower or a Guarantor after the Closing Date that is required to be mortgaged
to the Administrative Agent within 15 days of the date of Acquisition, the Borrower or the applicable Guarantor shall deliver to the
Administrative Agent those items required by Section 6.12(f):

 

(h)           The
Borrower and the Guarantors shall be required to deliver to the Administrative Agent originals of the certificates of title or ownership
for the motor vehicles (and any other equipment covered by certificates of title or ownership) owned by it, with the Administrative Agent
listed as lienholder therein; provided that such requirement shall not apply with respect to any such titled vehicles and other
equipment that individually have a book value (as determined by the Borrower in good faith) of less than $25,000. Moreover, delivery
of certificates of title or ownership documentation to the Administrative Agent as described above shall be done, with respect to the
motor vehicles and other equipment owned by the Borrower and the Guarantors as of the Closing Date, as promptly as reasonable practicable
but in no event later than one (1) month after the Closing Date (or such longer period as may be agreed by the Administrative Agent
(acting at the direction of the Required Lenders in their sole discretion)), and with respect to motor vehicles and other equipment acquired
by the Borrower and the Guarantors after the Closing Date, within 30 days after such acquisition.

 

6.13        Compliance
with Environmental Laws. Comply, and cause all lessees and other Persons operating or occupying
its properties to comply, in all material respects, with all applicable Environmental Laws and Environmental Permits; obtain and renew
all Environmental Permits necessary for its operations and properties; and conduct any investigation, study, sampling and testing, and
undertake any cleanup, removal, remedial or other action necessary to remove and clean up all Hazardous Materials from any of its properties,
in accordance with the requirements of all Environmental Laws in all material respects; provided, however, that neither the Borrower
nor any of its Restricted Subsidiaries shall be required to undertake any such cleanup, removal, remedial or other action to the extent
that its obligation to do so is being contested in good faith and by proper proceedings and appropriate reserves are being maintained
with respect to such circumstances in accordance with GAAP.

 

6.14        Preparation
of Environmental Reports. At the request of the Required Lenders during the existence of any
Default, provide to the Term Loan Lenders within 30 days (or such longer period as the Administrative Agent may agree (at the direction
of the Required Lenders)) after such request, at the expense of the Borrower, an environmental site assessment report for any of its
properties described in such request, prepared by an environmental consulting firm acceptable to the Administrative Agent, indicating
the presence or absence of Hazardous Materials and the estimated cost of any compliance, removal or remedial action in connection with
any Hazardous Materials on such properties. Without limiting the generality of the foregoing, if the Administrative Agent determines
at any time that a material risk exists that any such report will not be provided within the time referred to above, the Administrative
Agent may retain an environmental consulting firm to prepare such report at the expense of the Borrower, and the Borrower hereby grants
and agrees to cause any Restricted Subsidiary that owns any property described in such request to grant at the time of such request to
the Administrative Agent, the Term Loan Lenders, such firm and any agents or representatives thereof an irrevocable non-exclusive license,
subject to the rights of tenants, to enter onto their respective properties to undertake such an assessment.

 

    -57-

     

    

 

6.15        Further
Assurances. Promptly upon the reasonable request by the Administrative Agent, or any Term Loan
Lender through the Administrative Agent, (a) correct any material defect or error that may be discovered in any Loan Document or
in the execution, acknowledgment, filing or recordation thereof, and (b) do, execute, acknowledge, deliver, record, re-record, file,
re-file, register and re-register any and all such further acts, deeds, certificates, assurances and other instruments (including filings
with the United States Patent and Trademark Office and the United States Copyright Office) as are necessary or advisable or that the
Administrative Agent, or any Term Loan Lender through the Administrative Agent, may reasonably require from time to time in order to
(i) carry out more effectively the purposes of the Loan Documents, (ii) to the fullest extent permitted by applicable Law,
subject any Loan Party’s or any of its Restricted Subsidiaries’ properties, assets, rights or interests to the Liens now
or hereafter intended to be covered by any of the Collateral Documents, (iii) perfect and maintain the validity, effectiveness and
priority of any of the Collateral Documents and any of the Liens intended to be created thereunder and (iv) assure, convey, grant,
assign, transfer, preserve, protect and confirm more effectively unto the Secured Parties the rights granted or now or hereafter intended
to be granted to the Secured Parties under any Loan Document or under any other instrument executed in connection with any Loan Document
to which any Loan Party or any of its Restricted Subsidiaries is or is to be a party, and cause each of its Restricted Subsidiaries to
do so.

 

6.16        Compliance
with Terms of Leaseholds. (i) Make all payments and otherwise perform all obligations in
respect of all leases of real property to which the Borrower or any of its Restricted Subsidiaries is a party, (ii) keep such leases
in full force and effect, (iii) not allow such leases to lapse or be terminated or any rights to renew such leases to be forfeited
or cancelled, (iv) notify the Administrative Agent of any default by any party with respect to such leases and (v) cooperate
with the Administrative Agent in all respects to cure any such default, and cause each of its Restricted Subsidiaries to do so, except,
in the case of clauses (i) through (v), where the failure to do so, either individually or in the aggregate, could not be reasonably
likely to have a Material Adverse Effect.

 

6.17        Material
Contracts. (i) Perform and observe all the terms and provisions of each Material Contract
to be performed or observed by it, (ii) maintain each such Material Contract in full force and effect, (iii) enforce each such
Material Contract in accordance with its terms, (iv) take all such action to such end as may be from time to time requested by the
Administrative Agent (at the direction of the Required Lenders) and (v) upon request of the Administrative Agent (acting at the
direction of the Required Lenders), make to each other party to each such Material Contract such demands and requests for information
and reports or for action as any Loan Party or any of its Restricted Subsidiaries is entitled to make under such Material Contract, and
cause each of its Restricted Subsidiaries to do so, except, in the case of clauses (i) through (v), where the failure to do so,
either individually or in the aggregate, could not reasonably be expected to have a Material Adverse Effect.

 

6.18        Post-Closing
Matters. Perform and observe all of the actions listed on Schedule 6.18 hereto within
the time periods specified therein (as such time periods may be extended by the Administrative Agent upon the direction of the Required
Lenders).

 

6.19        Designation
of Unrestricted Subsidiaries. No Person that is or becomes a Subsidiary of the Borrower or any
of its Restricted Subsidiaries shall be classified or designated as an Unrestricted Subsidiary.

 

    -58-

     

    

 

6.20        Approved
Budget.

 

(a)            The
Approved Budget shall be approved by and in form and substance satisfactory to the Required Lenders (which satisfaction of the Required
Lenders may be communicated via an email from any of the Specified Lender Advisors); provided that it is acknowledged and agreed
by the parties hereto that the Initial Approved Budget is approved by and satisfactory to the Required Lenders and is and shall be the
Approved Budget unless and until replaced in accordance with terms of this Section, and that with respect to any subsequent Approved
Budget, such approval and satisfaction of the Required Lenders may be communicated via an email from any of the Specified Lender Advisors.
The Approved Budget shall be updated, modified or supplemented by the Borrower from time to time in writing transmitted to the Administrative
Agent and the Term Loan Lender Advisors with the written consent of and/or at the request of the Required Lenders (with a copy of such
written consent or request concurrently delivered to the Administrative Agent) (which consent may be communicated via an email from any
of the Specified Lender Advisors) (any such proposed budget, the “Proposed Budget”), but in any event not less than
one time in each two (2) consecutive week period, commencing with the first full week after the Closing Date, and each Proposed
Budget shall be substantially in the form of the Initial Approved Budget and otherwise satisfactory to the Required Lenders, and no such
Proposed Budget shall be effective unless acceptable to the Required Lenders (which acceptance may be communicated via an email from
any of the Specified Lender Advisors); and upon delivery of such acceptance by the Required Lenders, such Proposed Budget shall be deemed
the newly approved Approved Budget.

 

(b)            [reserved].

 

(c)            The
Borrower shall deliver to the Administrative Agent and the Term Loan Lender Advisors on or before Thursday of every week (commencing
with the week ending May 7, 2021), a certificate which shall include such detail as is reasonably satisfactory to the Required Lenders
(which satisfaction may be communicated via an email from any of the Specified Lender Advisors), signed by a Responsible Officer of the
Borrower (i) certifying that the Loan Parties are in compliance with the covenants contained in Section 7.11 and (ii) certifying
that no Default or Event of Default has occurred or, if such a Default or Event of Default has occurred, specifying the nature and extent
thereof and any corrective action taken or proposed to be taken with respect thereto, and attaching thereto the Approved Budget Variance
Report which shall be prepared by the Borrower as of the last day of the most recently ended Variance Testing Period.

 

6.21        Weekly
Conference Calls. No less than once per week, the Borrower shall make its senior management
and its financial advisors available to the Term Loan Lender Advisors and, to the extent restricted, any Term Loan Lender via teleconference
to discuss the financial position, cash flows, variances and operations of the Borrower and its Subsidiaries.

 

6.22        Milestones.
The Loan Parties shall ensure the satisfaction of the following milestones (collectively, the “Milestones” and each
a “Milestone”), unless waived or extended with the consent of the Required Lenders or the Administrative Agent (with
the written consent of the Required Lenders (which may be by email)):

 

    -59-

     

    

 

(a)            By
no later than May 3, 2021, the Borrower shall have delivered to the Term Loan Lender Advisors drafts of all "first day"
motions, including a first day declaration, for a chapter 11 filing in the Southern District of Texas (the “Chapter 11 Filing"”
in form and substance reasonably acceptable to the Ad Hoc Group of Term Loan Lenders and such other documents to be agreed between the
Borrower and the Ad Hoc Group of Term Loan Lenders;

 

(b)            By no later than May 10, 2021, the Borrower shall have delivered to each of the Term Loan Lenders a budget relating to debtor-in-possession
financing in form and substance reasonably acceptable to the Ad Hoc Group of Term Loan Lenders;

 

(c)             By no later than May 10, 2021, the Borrower shall have entered into a
Restructuring Support Agreement (the “RSA”) with the Ad Hoc Group of Term Loan Lenders pursuant to which the
Borrower agrees to pursue a transaction acceptable in all respects to the Ad Hoc Group of Term Loan Lenders and the Borrower by
commencing voluntary Chapter 11 Cases or otherwise agreeing to a mutually acceptable out of court restructuring; and

 

(d)            By
no later than May 14, 2021, if Chapter 11 Cases are anticipated, the Borrower and the Ad Hoc Group of Term Loan Lenders shall have
agreed upon the form of a debtor-in-possession credit agreement, which form shall provide, among other things, that all Loans of the
Ad Hoc Group of Term Loan Lenders shall roll into loans under the debtor-in-possession facility and otherwise be satisfactory to the
Ad Hoc Group of Term Loan Lenders and the Borrower.

 

ARTICLE VII

NEGATIVE COVENANTS

 

So long as any Term Loan
Lender shall have any Commitment hereunder, any Loan or other Obligation hereunder shall remain unpaid or unsatisfied, the Borrower shall
not, nor shall it permit any Restricted Subsidiary to, directly or indirectly:

 

7.01        Liens.
Create, incur, assume or suffer to exist any Lien upon any of its property, assets or revenues, whether now owned or hereafter acquired,
or sign or file or suffer to exist under the Uniform Commercial Code of any jurisdiction a financing statement that names the Borrower
or any of its Restricted Subsidiaries as debtor, or assign any accounts or other right to receive income, other than the following:

 

(a)            Liens
pursuant to any Loan Document;

 

(b)            Liens
existing on the date hereof and listed on Schedule 7.01 and any renewals or extensions thereof, provided that (i) the
property covered thereby is not changed, (ii) [reserved], (iii) the direct or any contingent obligor with respect thereto is
not changed, and (iv) [reserved];

 

(c)            Liens
for Taxes 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’,
landlord’s, warehousemen’s, mechanics’, materialmen’s, repairmen’s, laborer’s, or other like Liens
arising in the ordinary course of business which do not secure Indebtedness for borrowed money and which are not overdue for a period
of more than 30 days 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;

 

(e)            pledges
or deposits in the ordinary course of business in connection with workers’ compensation, self-insurance obligations, unemployment
insurance and other social security legislation, other than any Lien imposed by ERISA;

 

    -60-

     

    

 

(f)            deposits
to secure the performance of bids, trade contracts and leases (other than Indebtedness), statutory obligations, surety and appeal bonds,
performance bonds and other obligations of a like nature incurred in the ordinary course of business;

 

(g)            easements,
rights-of-way, restrictions and other similar encumbrances affecting real property which, in the aggregate, are not substantial in amount,
and which do not in any case materially detract from the value of the property subject thereto or materially interfere with the ordinary
conduct of the business of the applicable Person;

 

(h)            Liens
securing judgments for the payment of money not constituting an Event of Default under Section 8.01(h);

 

(i)             Liens
securing Indebtedness permitted under Section 7.02(f), including such Liens outstanding on the date hereof; provided
that (i) such Liens do not at any time encumber any property other than the property financed by such Indebtedness and (ii) the
Indebtedness secured thereby does not exceed the cost or fair market value, whichever is lower, of the property being acquired on the
date of acquisition;

 

(j)             Leases
with respect to the assets or properties of any of the Borrower or any Restricted Subsidiary, in each case entered into in the ordinary
course of such Person’s business so long as such leases do not apply to Collateral or are subordinate in all respects to the Liens
granted and evidenced by the Collateral Documents and do not, individually or in the aggregate, (i) interfere in any material respect
with the ordinary conduct of the business of the Borrower or any Restricted Subsidiary or (ii) materially impair the use (for its
intended purposes) or the value of the property subject thereto;

 

(k)            Liens
arising out of conditional sale, title retention, consignment or similar arrangements for the sale of goods entered into by the Borrower
or any Restricted Subsidiary in the ordinary course of business in accordance with the past practices of such Person;

 

(l)             Liens
on property of the Borrower and the Guarantors securing Indebtedness existing on the Closing Date and permitted under Section 7.02(g),
7.02(o), 7.02(p) and, solely with respect to the ABL Collateral, 7.02(q);

 

(m)           [reserved];

 

(n)            rights
of setoff or bankers’ liens upon deposits of funds in favor of banks or other depository institutions, solely to the extent incurred
in connection with the maintenance of such deposit accounts in the ordinary course of business;

 

(o)            [reserved];
and

 

(p)            other
Liens securing Indebtedness outstanding in an aggregate principal amount not to exceed $250,000; provided that no such Liens shall
extend to or cover any Collateral.

 

7.02         Indebtedness.
Create, incur, assume or suffer to exist any Indebtedness, except:

 

(a)            [reserved];

 

(b)            Indebtedness
among the Borrower and Loan Parties, which Indebtedness shall (i) be on terms (including subordination terms) acceptable to the
Required Lenders and (ii) be otherwise permitted under the provisions of Section 7.03;

 

(c)            Indebtedness
under the Loan Documents;

 

    -61-

     

    

 

(d)            Indebtedness
outstanding on the date hereof and listed on Schedule 7.02;

 

(e)            Guarantees
of the Borrower or any Restricted Subsidiary in respect of Indebtedness otherwise permitted hereunder of the Borrower or any Guarantor;

 

(f)             Indebtedness
in respect of Capitalized Leases, Synthetic Lease Obligations and purchase money obligations for fixed or capital assets within the limitations
set forth in Section 7.01(i); provided that the aggregate amount of all such Indebtedness shall not exceed at any
time outstanding the amount of Indebtedness outstanding as of the Closing Date plus an additional amount not to exceed $500,000;

 

(g)            the
Senior Notes in an amount not to exceed the sum of (A) the aggregate principal amount of $300,000,000 plus (B) the aggregate
principal amount of Senior Notes issued to Ascribe in lieu of any cash reimbursement with respect to the Make-Whole Payment plus (C) any
interest paid in-kind thereon;

 

(h)            [reserved];

 

(i)             Indebtedness
in respect of (i) self-insurance obligations or completion, bid, performance, appeal or surety bonds issued for the account of the
Borrower or any wholly-owned Restricted Subsidiary in the ordinary course of business, including guarantees or obligations of the Borrower
or any wholly-owned Restricted Subsidiary with respect to letters of credit supporting such self-insurance, completion, bid, performance,
appeal or surety obligations (in each case other than for an obligation for money borrowed) or (ii) workers compensation claims
or obligations represented by letters of credit for the account of the Borrower or any wholly-owned Restricted Subsidiary, as the case
may be, in order to provide security for workers’ compensation claims;

 

(j)             [reserved];

 

(k)            [reserved];

 

(l)             endorsements
of negotiable instruments for collection in the ordinary course of business;

 

(m)           unsecured
Indebtedness not otherwise permitted under this Section 7.02 in an aggregate principal amount not to exceed $250,000 at any
time outstanding;

 

(n)            [reserved];

 

(o)            Indebtedness
outstanding on the Closing Date evidenced by the March 2020 Note as in effect on the Closing Date;

 

(p)            Indebtedness
outstanding on the Closing Date evidenced by the Second Lien Note as in effect on the Closing Date; and

 

(q)            Indebtedness
under the ABL Facility as in effect on the Closing Date.

 

7.03        Investments.
Make or hold any Investments, except:

 

(a)            Investments
held by the Borrower and its Restricted Subsidiaries in the form of Cash Equivalents;

 

(b)            advances
to officers and employees of the Borrower and its Restricted Subsidiaries for relocation expenses in an aggregate amount not to exceed
$100,000 at any time outstanding;

 

(c)            (i) Investments
by the Borrower and its Restricted Subsidiaries in their respective Restricted Subsidiaries outstanding on the date hereof, (ii) additional
Investments by the Borrower and its Restricted Subsidiaries in Loan Parties, (iii) additional Investments by Restricted Subsidiaries
of the Borrower that are not Loan Parties in other Restricted Subsidiaries that are not Loan Parties and (iv) [reserved];

 

    -62-

     

    

 

(d)            Investments
consisting of extensions of credit in the nature of accounts receivable or notes receivable arising from the grant of trade credit in
the ordinary course of business, and Investments received in satisfaction or partial satisfaction thereof from financially troubled account
debtors to the extent reasonably necessary in order to prevent or limit loss;

 

(e)            Guarantees
permitted by Section 7.02;

 

(f)             Investments
existing on the date hereof (other than those referred to in Section 7.03(c)(i)) and identified on Schedule 7.03 or
otherwise set forth on Schedule 7.03;

 

(g)            [reserved];

 

(h)            [reserved];

 

(i)             [reserved];
and

 

(j)             other
Investments not exceeding $100,000 in the aggregate following the Closing Date.

 

7.04        Fundamental
Changes. Merge, dissolve, liquidate, consolidate with or into another Person, or Dispose of
(whether in one transaction or in a series of transactions) all or substantially all of its assets (whether now owned or hereafter acquired)
to or in favor of any Person.

 

7.05        Dispositions.
Make any Disposition or enter into any agreement to make any Disposition except:

 

(a)            Dispositions
of (i) obsolete or worn out property and (ii) equipment that is no longer useful, in each case in the ordinary course of business
whether now owned or hereafter acquired;

 

(b)            Dispositions
of inventory in the ordinary course of business;

 

(c)            Dispositions
of property by any Restricted Subsidiary to the Borrower or to any wholly-owned Restricted Subsidiary; provided that if the transferor
of such property is a Guarantor, the transferee thereof must either be the Borrower or a Guarantor;

 

(d)            Dispositions
set forth on Schedule 7.05; provided that the proceeds of any such Disposition shall be deposited into the Collateral Account
promptly upon receipt thereof by the Borrower or any of its Subsidiaries (regardless of whether the property subject to such Disposition
constitutes Collateral at the time of such Disposition) and shall be disbursed from such Collateral Account solely in accordance with
the Approved Budget (subject to Permitted Variances);

 

(e)            [Reserved];

 

(f)            Dispositions
by the Borrower and its Restricted Subsidiaries not otherwise permitted under this Section 7.05; provided that (i) at
the time of such Disposition, no Default shall exist or would result from such Disposition, (ii) the aggregate book value of all
property Disposed of in reliance on this clause (e) since the Closing Date shall not exceed $250,000 (or such greater amount as
may be approved by the Required Lenders), and (iv) at least 75% of the purchase price for such asset shall be paid to the Borrower
or such Restricted Subsidiary in cash; and

 

    -63-

     

    

 

(g)           [reserved].

 

provided
that any Disposition (other than Dispositions to a Loan Party) shall be for fair market value.

 

7.06        Restricted
Payments. Declare or make, directly or indirectly, any Restricted Payment, or incur any obligation
(contingent or otherwise) to do so, except that each Restricted Subsidiary may make Restricted Payments to the Borrower or any Restricted
Subsidiaries of the Borrower that are Guarantors.

 

7.07        Change
in Nature of Business. Engage in any material line of business substantially different from
those lines of business conducted by the Borrower and its Restricted Subsidiaries on the Closing Date, any other business or businesses
in the oilfield services industry and other businesses reasonably related or ancillary thereto.

 

7.08        Transactions
with Affiliates. Enter into any transaction of any kind with any Affiliate of the Borrower,
whether or not in the ordinary course of business, other than on fair and reasonable terms substantially as favorable to the Borrower
or such Restricted Subsidiary as would be obtainable by the Borrower or such Restricted Subsidiary at the time in a comparable arm’s
length transaction with a Person other than an Affiliate; provided that the foregoing restriction shall not apply to (a) transactions
solely between or among the Loan Parties, (b) subject to Section 7.17, compensation to, and the terms of any employment
contracts with, individuals who are officers, managers or directors of the Loan Parties in the ordinary course of business, provided
that, to the extent such approval is required, such compensation is approved by such Loan Party’s board of directors (or equivalent
governing body), (c) [reserved], (d) [reserved], and (e) transactions existing on the date hereof and identified on Schedule
7.08 or otherwise set forth on Schedule 7.08. Notwithstanding anything to the contrary herein or in any other Loan Document,
the Borrower shall not, and shall not permit any of its Subsidiaries to (i) enter into any new agreements with Ascribe or any of
its Affiliates or (ii) make any payments of any amounts in cash or otherwise to Ascribe or any of its Affiliates (including, without
limitation, any fees or expenses payable to directors on the board of the Borrower appointed by Ascribe or interest or other payments
on account of the March 2020 Note, the Second Lien Note or any other indebtedness of the Borrower or any of its Subsidiaries held
by Ascribe of any of its Affiliates).

 

7.09        Burdensome
Agreements. Enter into or permit to exist any Contractual Obligation (other than this Agreement,
any other Loan Document, the ABL Loan Documents and any Senior Notes Document that (a) limits the ability (i) of any Restricted
Subsidiary to make Restricted Payments to the Borrower or any Guarantor or to otherwise transfer property to or invest in the Borrower
or any Guarantor, except for any agreement in effect on the date hereof and set forth on Schedule 7.09, (ii) of any Restricted
Subsidiary to Guarantee the Obligations or (iii) of the Borrower or any Restricted Subsidiary to create, incur, assume or suffer
to exist Liens on its property to secure the Obligations; provided that (x) this clause (iii) shall not prohibit any
negative pledge incurred or provided in favor of any holder of Indebtedness permitted under Section 7.02(f) solely to
the extent any such negative pledge relates to the property financed by or the subject of such Indebtedness or customary restrictions
on assignment, encumbrances or subletting in leases and other contracts and (y) this clause (iii) and the preceding clause
(i) shall not prohibit customary restrictions and conditions contained in agreements relating to the sale of a Loan Party or an
asset pending such sale; provided that such restrictions and conditions apply only to such Loan Party or such asset that is to
be sold and such sale is permitted under this Agreement; or (b) requires the grant of a Lien to secure an obligation of such Person
if a Lien is granted to secure the Obligations.

 

7.10        Use
of Proceeds. Use the proceeds of any Loan, whether directly or indirectly, and whether immediately,
incidentally or ultimately, to purchase or carry margin stock (within the meaning of Regulation U of the FRB) or to extend credit to
others for the purpose of purchasing or carrying margin stock or to refund indebtedness originally incurred for such purpose.

 

7.11        Variance
Reports Compliance; Professional Fees. For each most recently ended Variance Testing Period,
the Borrower shall not permit: (x) the Actual Cash Receipts to be less than Budgeted Cash Receipts (each calculated on a cumulative
basis as opposed to on a line by line basis), in each case, for such Variance Testing Period, by more than the Permitted Variance for
such Variance Testing Period, and (y) the aggregate amount of Actual Operating Disbursement Amounts and Actual Debtor Professional
Fee Amounts to exceed the aggregate amount of Budgeted Operating Disbursement Amounts and Budgeted Debtor Professional Fee Amounts (each
calculated on a cumulative basis as opposed to on a line by line basis), in each case, for such Variance Testing Period, by more than
the Permitted Variance.

 

    -64-

     

    

 

 

7.12            Amendments
of Organization Documents. Amend any of its Organization Documents or the Ascribe Consent Letter,
in each case without the consent of the Required Lenders.

 

7.13            Accounting
Changes. Make any change in (a) its accounting policies or reporting practices, except
as required by GAAP, or (b) its fiscal year.

 

7.14            Prepayments,
Etc. of Indebtedness. Prepay, redeem, purchase, defease or otherwise satisfy, or make any payment
of principal, interest or other amount in respect of, or any payment in violation of any subordination terms of, any Indebtedness, except
(a) the prepayment of the Loans in accordance with the terms of this Agreement, (b) [reserved], (c) [reserved], (d) [reserved],
(e) [reserved], (f) [reserved], (h) [reserved], and (i) prepayments of Indebtedness relating to the repayment of
Capitalized Leases in accordance with the Approved Budget (subject to the Permitted Variance).

 

7.15            Amendment,
Etc. of Indebtedness.

 

(a)               Amend,
modify or change in any manner any term or condition of the Senior Notes or the Senior Notes Documents (including, without limitation,
the Third Supplemental Indenture), except for (i) [reserved], (ii) any amendments or modifications made to (1) cure any
ambiguity, defect or inconsistency, or (2) evidence or provide for the acceptance of appointment by a successor trustee or effect
any similar immaterial administrative modifications, or (B) any other amendment, modification or change thereto, provided
that such amendment, modification or change could not reasonably be expected to adversely affect the interests of the Administrative Agent
or the Term Loan Lenders under the Loan Documents.

 

(b)               Amend,
modify or change in any manner any term or condition of the ABL Facility (including, without limitation, the Closing Date ABL Amendment),
the March 2020 Note, the Second Lien Note or any other Indebtedness except for any amendments or modifications made to cure any ambiguity,
defect or inconsistency and such amendment or modification could not reasonably be expected to adversely affect the interests of the Administrative
Agent or the Term Loan Lenders under the Loan Documents.

 

7.16            Sanctions.
Directly or indirectly, use any Loans or the proceeds of any Loans, or lend, contribute or otherwise make available such Loan or the
proceeds of any Loan to any Person, to fund any activities of or business with any Person, 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 Person (including
any Person participating in the transaction, whether as Term Loan Lender, Administrative Agent or otherwise) of Sanctions.

 

7.17            Compensation
Plans and Payments. (i) Modify the payment of any existing bonus or other non-ordinary course executive or other employee
compensation, or modify the terms of employment with senior management of the Borrower or any Subsidiary or (ii) Enter into or make
any payment under any new, existing or modified bonus or non-ordinary course executive or other employee, without the consent of the
Ad Hoc Group of Term Loan Lenders.

 

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 (i) pay when and as required to be paid herein, any amount of principal of any Loan
or (ii) pay within three days after the same becomes due, any interest on any Loan or any fee due hereunder, or (iii) pay within
five days after the same becomes due, any other amount payable hereunder or under any other Loan Document; or

 

    -65-

     

    

 

(b)               Specific
Covenants. (i) The Borrower fails to perform or observe any term, covenant or agreement contained in any of Section 6.01,
6.02(a), 6.02(b), 6.03(a), 6.03(b), 6.05, 6.07, 6.10, 6.11, 6.12, 6.14,
6.18, 6.19, 6.20, 6.21, 6.22 or Article VII or (ii) the Borrower fails to perform
or observe any term, covenant or agreement contained in Section 6.02 (other than Section 6.02(a) and 6.02(b)),
Section 6.03 (other than Section 6.03(a) and 6.03(b)) or 6.22 and such failure continues for
two (2) Business Days; or

 

(c)                Other
Defaults. Any Loan Party fails to perform or observe any other covenant or agreement (not specified in Section 8.01(a) or
(b) above) contained in any Loan Document on its part to be performed or observed and such failure continues for five (5) days;
or

 

(d)               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

 

(e)                Cross-Default.
Any Loan Party or any Restricted Subsidiary thereof defaults under any mortgage, Indenture or instrument (including, without limitation,
the Senior Notes, the other Senior Notes Documents, the ABL Facility, the March 2020 Note and/or the Second Lien Note) under which
there may be issued or by which there may be secured or evidenced any Indebtedness for money borrowed by the Borrower or any of its Restricted
Subsidiaries (or the payment of which is Guaranteed by the Borrower or any of its Restricted Subsidiaries), whether such Indebtedness
or Guarantee now exists, or is created after the Closing Date, which default (i) is caused by a failure to pay principal of or premium,
if any, or interest on such Indebtedness prior to the expiration of the grace period provided in such Indebtedness (for purposes of this
provision, a “payment default”); or (ii) results in the acceleration of such Indebtedness prior to its express
maturity or permits the holders of such Indebtedness (with the giving of notice or the passage of time or both) to accelerate such Indebtedness
prior to its express maturity, and, in each case, the principal amount of any such Indebtedness, together with the principal amount of
any other such Indebtedness under which there has been a payment default or the maturity of which has been so accelerated or as otherwise
set forth in clause (ii) above, aggregates without duplication $50,000 or more; provided that notwithstanding the foregoing,
in no event shall (x) the failure of the Borrower to pay interest in respect of the Senior Notes on April 15, 2021 constitute
an Event of Default under this clause (e) unless and until the grace period applicable to such failure to pay interest under the
Senior Notes Indenture has expired and (y) any default or event of default under the ABL Facility that is, as of the Closing Date,
subject to a forbearance under the ABL Forbearance Agreement constitute an Event of Default unless and until the forbearance with respect
thereto shall have been terminated or expired); or

 

(f)                Insolvency
Proceedings, Etc. Any Loan Party or any Restricted Subsidiary thereof 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

 

(g)               Inability
to Pay Debts; Attachment. (i) Any Loan Party or any Restricted Subsidiary thereof 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
30 days after its issue or levy; or

 

    -66-

     

    

 

(h)               Judgments.
Failure by the Borrower or any of its Restricted Subsidiaries to pay final judgments aggregating in excess of $50,000 (excluding amounts
covered by insurance), which judgments are not paid, discharged or stayed for a period of 60 days; or

 

(i)                 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 a Material Adverse Effect or the imposition of a Lien on the assets of a Loan Party, 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 and such failure to pay has resulted or could reasonably be expected
to result in a Material Adverse Effect or the imposition of a Lien on the assets of a Loan Party; or

 

(j)                 Invalidity
of Loan Documents. Any 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 provision of any Loan Document; or
any Loan Party denies that it has any or further liability or obligation under any provision of any Loan Document, or purports to revoke,
terminate or rescind any provision of any Loan Document; or

 

(k)                Change
of Control. There occurs any Change of Control; or

 

(l)                 Collateral
Documents. Any Collateral Document after delivery thereof pursuant to Section 4.01 or 6.12 shall for any reason
(other than pursuant to the terms hereof or thereof) ceases for any reason to be fully enforceable in any material respect; provided
that it will not be an Event of Default under this clause (l) if the sole result of the failure of one or more Collateral
Documents to be fully enforceable in any material respect is that any Lien purported to be granted under such Collateral Documents on
Collateral, individually or in the aggregate, having a fair market value of not more than $100,000 ceases to be an enforceable and perfected
first-priority Lien; or

 

(m)              ABL
Forbearance Agreement. There occurs a termination of the forbearance period set forth in the ABL Forbearance Agreement; or

 

(n)               Ascribe
Consent Letter. There occurs a termination of the forbearance period set forth in the Ascribe Consent Letter; or

 

(o)               RSA. There occurs a breach or termination of the RSA
(if outstanding).

 

8.02            Remedies
upon Event of Default. If any Event of Default occurs and is continuing, the Administrative
Agent shall, at the request of (subject to Article IX hereof), or may, with the consent of, the Required Lenders, take any or all
of the following actions:

 

(a)                declare
the commitment of each Term Loan Lender to be terminated, whereupon such commitments and obligations 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)                [reserved];
and

 

(d)               exercise
on behalf of itself, the Term Loan Lenders all rights and remedies available to it, the Term Loan Lenders under the Term Loan Documents
or applicable Law or equity;

 

    -67-

     

    

 

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 Term Loan Lender to make Loans 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 without further act
of the Administrative Agent or any Term Loan Lender.

 

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), any amounts received on account of the Obligations shall, subject to
the provisions of Sections 2.16, 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 payable to the Term Loan Lenders (including
fees, charges and disbursements of counsel to the respective Term Loan Lenders arising under the Loan Documents 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 interest on the Term Loans and other Obligations arising
under the Loan Documents, ratably among the Term Loan Lenders 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 ratably among the Term Loan Lenders in proportion
to the respective amounts described in this clause Fourth held by them;

 

Fifth,
to payment of all other Obligations ratably among the Secured Parties; 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.

 

ARTICLE IX

ADMINISTRATIVE AGENT

 

9.01            Appointment
and Authority. (a) Each Secured Party hereby irrevocably appoints, designates and authorizes
Cantor Fitzgerald Securities 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 Term Loan, and the Borrower shall not 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.

 

(b)               The
Administrative Agent shall also act as the “collateral agent” under the Loan Documents, and each of the Term Loan Lenders
hereby irrevocably appoints and authorizes the Administrative Agent to act as the agent of such Term Loan Lender for purposes of acquiring,
holding and enforcing any and all Liens on Collateral granted by any of the Loan Parties to secure any of the Obligations, together with
such powers and discretion as are reasonably incidental thereto. In this connection, the Administrative Agent, as “collateral
agent” and any co-agents, sub-agents and attorneys-in-fact appointed by the Administrative Agent pursuant to Section 9.05
for purposes of holding or enforcing any Lien on the Collateral (or any portion thereof) granted under the Collateral Documents, or for
exercising any rights and remedies thereunder at the direction of the Administrative Agent), shall be entitled to the benefits of all
provisions of this Article IX and Article X (including Section 10.04(c), as though such co-agents,
sub-agents and attorneys-in-fact were the “collateral agent” under the Loan Documents) as if set forth in full herein
with respect thereto.

 

    -68-

     

    

 

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 Term Loan Lender as any other Term Loan Lender and may exercise the same as though it were not the Administrative
Agent and the term “Term Loan Lender” or “Term Loan 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 banking, trust, financial, advisory, underwriting or other 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 Term Loan Lenders or to provide notice to or consent of the Term Loan Lenders with respect thereto.

 

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, and its duties hereunder shall be administrative in nature. Without limiting the generality
of the foregoing, each of the Administrative Agent and its Related Parties:

 

(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 Term Loan Lenders as shall be expressly provided for herein or in the other
Loan Documents), including instructions by e-mail from the Specified Lender Advisors or the Required Lenders, and in each case, accompanied
by indemnity or security satisfactory to the Administrative Agent, 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, 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 or responsibility 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.

 

(d)               Neither
the Administrative Agent nor any of its Related Parties shall be liable for any action taken or not taken by the Administrative Agent
under or in connection with this Agreement or any other Loan Document or the transactions contemplated hereby or thereby (i) with
the consent or at the request of the Required Lenders (or such other number or percentage of the Term Loan 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 as determined by a court of competent jurisdiction
by final and nonappealable judgment. The Administrative Agent shall be deemed not to have knowledge of any Default or Event of Default
unless and until notice describing such Default or Event of Default is given in writing to the Administrative Agent by the Borrower or
a Term Loan Lender.

 

    -69-

     

    

 

(e)                Notwithstanding
anything herein to the contrary or in any of the other Loan Documents, in each instance where the Loan Documents confer discretionary
rights or powers upon the Administrative Agent which may be exercised or refrained from being exercised herein or in any of the Loan Documents,
the Administrative Agent shall not be required to take any action in the absence of direction from the Required Lenders (accompanied by
indemnity, if requested by the Administrative Agent), and shall have the absolute right, in its sole discretion, to consult with, or seek
the affirmative or negative vote from the Required Lenders or, if otherwise applicable, the Term Loan Lenders, and it may do so pursuant
to a negative notice, negative consent or otherwise.

 

(f)                In
no event shall the Administrative Agent be responsible or liable for any failure or delay in the performance of their obligations hereunder
arising out of or caused by, directly or indirectly, forces beyond its control, including strikes, work stoppages, accidents, acts of
war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God, future changes in applicable law or
regulation, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services; it being
understood that the Administrative Agent shall use commercially reasonable efforts consistent with accepted practices in the banking industry
to resume performance as soon as practicable under the circumstances.

 

(g)               Neither
the Administrative Agent nor any of its Related Parties have any duty or obligation to any Term Loan Lender or participant or any other
Person 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 financial statements or other reports, certificates, or other documents 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 the creation, perfection
or priority of any Lien purported to be created by the Collateral Documents, (v) the value or the sufficiency of any Collateral,
or (vi) 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.

 

(h)           Neither
the Administrative Agent nor any of its Related Parties shall be responsible or have any liability for, or have any duty to ascertain,
inquire into monitor or enforce, compliance with the provisions relating to Borrower Competitors. 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 Company Competitor or (y) have any liability with respect to or arising out of any assignment
or participation of Term Loans, or disclosure of confidential information, to, or the restriction on any exercise of rights or remedies
of, any Borrower Competitor.

 

9.04            Reliance
by Administrative Agent. The Administrative Agent shall be entitled to rely upon, and shall
be fully protected in relying upon and shall not incur any liability for relying upon, any notice, request, certificate, communication,
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 be fully protected in relying and shall not incur any liability for relying thereon. In determining compliance with
any condition hereunder to the making of a Loan that by its terms must be fulfilled to the satisfaction of a Term Loan Lender the Administrative
Agent may presume that such condition is satisfactory to such Term Loan Lender unless the Administrative Agent shall have received notice
to the contrary from such Term Loan Lender prior to the making of such Loan. 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. For purposes of determining compliance
with the conditions specified in Section 4.01, each Term Loan 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 Term Loan Lender unless the Administrative Agent shall have received notice from such Term Loan
Lender prior to the proposed Closing Date specifying its objections.

 

    -70-

     

    

 

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 nonappealable judgment that the Administrative Agent acted with gross negligence or willful misconduct in the selection of such sub-agents.

 

9.06            Resignation
of Administrative Agent.

 

(a)                Notice.
The Administrative Agent may at any time give notice of its resignation to the Term Loan Lenders, 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 thirty (30) days after
the retiring Administrative 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 Administrative Agent may (but shall not be obligated to) on behalf
of the Term Loan Lenders, appoint a successor Administrative Agent meeting the qualifications set forth above. Whether or not a successor
has been appointed, such resignation shall become effective in accordance with such notice on the Resignation Effective Date.

 

(b)               Defaulting
Lender. If the Person serving as Administrative Agent is a Defaulting Lender pursuant to clause (d) of the definition thereof,
the Required Lenders may, to the extent permitted by applicable Law, by notice in writing to the Borrower and such Person remove such
Person as Administrative Agent and, in consultation with the Borrower, appoint a successor. If no such successor shall have been so appointed
by the Required Lenders and shall have accepted such appointment within thirty (30) days after the Required Lenders give notice of removal
(or such earlier day as shall be agreed by the Required Lenders) (the “Removal Effective Date”), then such removal
shall nonetheless become effective in accordance with such notice on the Removal Effective Date.

 

(c)                Effect
of Resignation or Removal. With effect from the Resignation Effective Date or the Removal Effective Date (as applicable), (i) the
retiring or removed Administrative Agent shall be discharged from its duties and obligations hereunder and under the other Loan Documents
(except that in the case of any collateral security held by the Administrative Agent on behalf of the Term Loan Lenders under any of the
Loan Documents, the retiring or removed Administrative Agent shall continue to hold such collateral security until such time as a successor
Administrative Agent is appointed) and (ii) except for any indemnity payments or other amounts then owed to the retiring or removed
Administrative Agent, all payments, communications and determinations provided to be made by, to or through the Administrative Agent
shall instead be made by or to each Term Loan Lender directly, until such time, if any, as the Required Lenders appoint a successor Administrative
Agent as provided for above. 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 removed) Administrative Agent
(other than as provided in Section 3.01(h) and other than any rights to indemnity payments or other amounts owed to the
retiring or removed Administrative Agent as of the Resignation Effective Date or the Removal Effective Date, as applicable), and the retiring
or removed 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 or removed Administrative Agent’s resignation or removal 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 or removed 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
or removed Administrative Agent was acting as Administrative Agent.

 

    -71-

     

    

 

(d)               [Reserved].

 

9.07            Non-Reliance
on Administrative Agent and Other Lenders. Each Term Loan Lender acknowledges that it has, independently
and without reliance upon the Administrative Agent or any other Term Loan 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 Term Loan
Lender also acknowledges that it will, independently and without reliance upon the Administrative Agent or any other Term Loan 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. The Administrative Agent shall not have any duty or responsibility, either initially
or on a continuing basis, to make any such investigation or any such analysis on behalf of the Term Loan Lenders or to provide any Term
Loan Lender with any credit or other information with respect thereto, whether coming into its possession before the making of the Loans
or at any time or times thereafter, and the Administrative Agent shall not have any responsibility with respect to the accuracy of or
the completeness of any information provided to the Term Loan Lenders. Each Term Loan Lender, by delivering its signature page to
this Agreement or an Assignment and Assumption and funding its Term Loan on the Closing Date, shall be deemed to have acknowledged receipt
of, and consented to and approved, each Loan Document and each other document required to be approved by the Administrative Agent, Required
Lenders or Term Loan Lenders, as applicable on the Closing Date.

 

9.08            [Reserved].

 

9.09            Administrative
Agent May File Proofs of Claim; Credit Bidding. 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 shall then be due and payable as herein expressed or by declaration or otherwise and irrespective of whether
the Administrative Agent shall have made any demand on the Borrower) shall be entitled and empowered, by intervention in such proceeding
or otherwise

 

(a)                to
file and prove a claim for the whole amount of the principal and interest owing and unpaid in respect of the Loans and all other Obligations
that are owing and unpaid and to file such other documents as may be necessary or advisable in order to have the claims of the Term Loan
Lenders and the Administrative Agent (including any claim for the reasonable compensation, expenses, disbursements and advances of the
Term Loan Lenders and the Administrative Agent and their respective agents and counsel and all other amounts due the Term Loan Lenders
and the Administrative Agent under Sections 2.03(h) and (i), 2.09 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 Term Loan Lender to make
such payments to the Administrative Agent and, if the Administrative Agent shall consent to the making of such payments directly to the
Term Loan 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 10.04. To the extent that the payment of any such compensation, expenses, disbursements and advances of the Administrative
Agent, its agents and counsel, and any other amounts due the Administrative Agent under Sections 2.09 and 10.04 out of the estate in any
such proceeding, shall be denied for any reason, payment of the same shall be secured by a Lien on, and shall be paid out of, any and
all distributions, dividends, money, securities and other properties that the Term Loan Lenders may be entitled to receive in such proceeding
whether in liquidation or under any plan of reorganization or arrangement or otherwise.

 

    -72-

     

    

 

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

 

The Secured Parties hereby
irrevocably authorize the Administrative Agent, at the direction of the Required Lenders, to credit bid all or any portion of the Obligations
(including accepting some or all of the Collateral in satisfaction of some or all of the Obligations pursuant to a deed in lieu of foreclosure
or otherwise) and in such manner purchase (either directly or through one or more acquisition vehicles) all or any portion of the Collateral
(a) at any sale thereof conducted under the provisions of the Bankruptcy Code of the United States, including under Sections 363,
1123 or 1129 of the Bankruptcy Code of the United States, or any similar Laws in any other jurisdictions to which a Loan Party is subject
or (b) at any other sale or foreclosure or acceptance of collateral in lieu of debt conducted by (or with the consent or at the direction
of) the Administrative Agent (whether by judicial action or otherwise) in accordance with any applicable Law.  In connection with
any such credit bid and purchase, the Obligations owed to the Secured Parties shall be entitled to be, and shall be, credit bid on a ratable
basis (with Obligations with respect to contingent or unliquidated claims receiving contingent interests in the acquired assets on a ratable
basis that would vest upon the liquidation of such claims in an amount proportional to the liquidated portion of the contingent claim
amount used in allocating the contingent interests) in the asset or assets so purchased (or in the Equity Interests or debt instruments
of the acquisition vehicle or vehicles that are used to consummate such purchase).  In connection with any such bid (i) the
Administrative Agent shall be authorized to form one or more acquisition vehicles to make a bid, (ii) to adopt documents providing
for the governance of the acquisition vehicle or vehicles (provided that any actions by the Administrative Agent with respect to
such acquisition vehicle or vehicles, including any disposition of the assets or Equity Interests thereof shall be governed, directly
or indirectly, by the vote of the Required Lenders, irrespective of the termination of this Agreement and without giving effect to the
limitations on actions by the Required Lenders contained in clauses (a) through (h) of Section 10.01 of this Agreement,
and (iii) to the extent that Obligations that are assigned to an acquisition vehicle are not used to acquire Collateral for any reason
(as a result of another bid being higher or better, because the amount of Obligations assigned to the acquisition vehicle exceeds the
amount of debt credit bid by the acquisition vehicle or otherwise), such Obligations shall automatically be reassigned to the Term Loan
Lenders pro rata and the Equity Interests and/or debt instruments issued by any acquisition vehicle on account of the Obligations that
had been assigned to the acquisition vehicle shall automatically be cancelled, without the need for any Secured Party or any acquisition
vehicle to take any further action.

 

9.10            Collateral
and Guaranty Matters. Each of the Term Loan Lenders irrevocably authorize the Administrative
Agent, at its option and in its discretion,

 

(a)                to
release any Lien on any property granted to or held by the Administrative Agent under any Loan Document (i) upon termination of the
Commitments and payment in full of all Obligations in cash (other than contingent indemnification obligations), (ii) that is sold
or to be sold as part of or in connection with any sale permitted hereunder or under any other Loan Document, (iii) [reserved], or
(iv) if approved, authorized or ratified in writing in accordance with Section 10.01; and

 

(b)               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.

 

    -73-

     

    

 

(c)                [reserved].

 

Upon request by the Administrative Agent at any
time, the Required Lenders will confirm in writing the Administrative Agent’s authority to release its interest in particular types
or items of property, or to release any Guarantor from its obligations under the Guaranty pursuant to this Section 9.10. Subject
in each case to this Section 9.10, upon any Loan Party’s request, the Administrative Agent shall be entitled to a certificate
of a Responsible Officer of the Borrower stating that such release is authorized and permitted upon which the Administrative Agent may
conclusively rely, and shall (and is hereby irrevocably authorized by each Term Loan Lender (including in its capacity as a Secured Party)
to), at the Borrower’s expense, execute and deliver to the applicable Loan Party such documents as such Loan Party may reasonably
request to evidence the release of such item of Collateral from the assignment and security interest granted under the Collateral Documents
or to subordinate its interest in such item, or to release such Guarantor from its obligations under the Guaranty, in each case in accordance
with the terms of the Loan Documents and this Section 9.10.

 

The Administrative Agent shall not be responsible
for or have a duty to ascertain or inquire into any representation or warranty regarding the existence, value or collectability of the
Collateral, the existence, priority or perfection of the Administrative Agent’s Lien thereon, or any certificate prepared by any
Loan Party in connection therewith, nor shall the Administrative Agent be responsible or liable to the Term Loan Lenders for any failure
to monitor or maintain any portion of the Collateral. Each party to this Agreement acknowledges and agrees that the Administrative Agent
shall have no obligation to file financing statements, amendments to financing statements, or continuation statements, or to perfect or
maintain the perfection of any Administrative Agent’s Lien on the Collateral, other than, in each case, as instructed by the Required
Lenders or the Specified Lender Advisors, together with the form of such financing statement to be filed.

 

9.11            Super
Priority Intercreditor Agreement

 

(a)                Each
Term Loan Lender (and each Person that becomes a Term Loan Lender hereunder pursuant to Section 10.06) hereby authorizes and
directs the Administrative Agent to enter into the Super Priority Intercreditor Agreement on behalf of such Term Loan Lender needed to
effectuate the transactions permitted by this Agreement and agrees that the Administrative Agent may take such actions on its behalf as
is contemplated by the terms of such Super Priority Intercreditor Agreement. Without limiting the provisions of Sections 9.03 and
10.04, each Term Loan Lender hereby consents to (i) Cantor Fitzgerald Securities and any successor serving in the capacity
of Administrative Agent and agrees not to assert any claim (including as a result of any conflict of interest) against Cantor Fitzgerald
Securities, or any such successor, arising from the role of the Administrative Agent or other agent under the Collateral Documents or
the Super Priority Intercreditor Agreement so long as it is either acting in accordance with the terms of such documents or otherwise
has not engaged in gross negligence or willful misconduct and (ii) Cantor Fitzgerald Securities or any such successor, arising from
its role as the Administrative Agent under the Collateral Documents or the Super Priority Intercreditor Agreement so long as it is either
acting in accordance with the terms of such documents or otherwise has not engaged in gross negligence or willful misconduct. In addition,
Cantor Fitzgerald Securities or any such successors, shall be authorized, without the consent of any Term Loan Lender, to execute or to
enter into amendments of, and amendments and restatements of, the Collateral Documents, the Super Priority Intercreditor Agreement and
any additional and replacement intercreditor agreements, in each case, in order to effect the subordination of and to provide for certain
additional rights, obligations and limitations in respect of, any Liens required by the terms of this Agreement to be Liens junior to,
or pari passu with, the Obligations, that are incurred as permitted by this Agreement, and to establish certain relative rights
as between the holders of the Obligations and the holders of the Indebtedness secured by such Liens junior or pari passu with the
Obligations.

 

(b)               The
Term Loan Lenders irrevocably authorize the Administrative Agent to enter into any amendment contemplated by this Agreement and the other
Loan Documents.

 

(c)                Notwithstanding
anything to the contrary in this Agreement, the Administrative Agent shall be entitled to refrain entering into the Super Priority Intercreditor
Agreement, or to execute or to enter into amendments of, and amendments and restatements of, the Collateral Documents, the Super Priority
Intercreditor Agreement and any additional and replacement intercreditor agreements, unless it has received the consent of the Required
Lenders.

 

    -74-

     

    

 

9.12            Certain
ERISA Matters.

 

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

 

(i)             such
Term Loan 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 Term Loan Lender’s entrance into, participation in, administration of and performance of the
Loans the Commitments or this Agreement,

 

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

 

(iii)           (A) such
Term Loan 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 Term Loan Lender to enter
into, participate in, administer and perform the Loans, Commitments and this Agreement, (C) the entrance into, participation in,
administration of and performance of the Loans, the Commitments and this Agreement satisfies the requirements of sub-sections (b) through
(g) of Part I of PTE 84-14 and (D) to the best knowledge of such Term Loan Lender, the requirements of subsection (a) of
Part I of PTE 84-14 are satisfied with respect to such Term Loan Lender’s entrance into, participation in, administration of
and performance of the Loans, the Commitments and this Agreement, or

 

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

 

(b)               In
addition, unless either (1) sub-clause (i) in the immediately preceding clause (a) is true with respect to a Term Loan
Lender or (2) a Term Loan Lender has provided another representation, warranty and covenant in accordance with sub-clause (iv) in
the immediately preceding clause (a), such Term Loan Lender further (x) represents and warrants, as of the date such Person became
a Term Loan Lender party hereto, to, and (y) covenants, from the date such Person became a Term Loan Lender party hereto to the date
such Person ceases being a Term Loan 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 Term Loan Lender involved in such Term Loan Lender’s entrance into, participation in, administration of and performance
of the Loans, the Commitments and this Agreement (including in connection with the reservation or exercise of any rights by the Administrative
Agent under this Agreement, any Loan Document or any documents related hereto or thereto).

 

    -75-

     

    

 

9.13            Erroneous
Payments.

 

(a)                Each
Term Loan Lender hereby agrees that (i) if the Administrative Agent notifies such Term Loan Lender that the Administrative Agent
has determined in its sole discretion that any funds received by such Term Loan Lender from the Administrative Agent or any of its
Affiliates were erroneously transmitted to, or otherwise erroneously or mistakenly received by, such Term Loan Lender (whether or not
known to such Term Loan Lender) (whether as a payment, prepayment or repayment of principal, interest, fees or otherwise; individually
and collectively, an “Erroneous Payment”) and demands the return of such Erroneous Payment (or a portion thereof),
such Term Loan Lender shall promptly, but in no event later than one Business Day thereafter, return to the Administrative Agent the amount
of any such Erroneous Payment (or portion thereof) as to which such a demand was made, in same day funds (in the currency so received),
together with interest thereon in respect of each day from and including the date such Erroneous Payment (or portion thereof) was received
by such Term Loan Lender to the date such amount is repaid to the Administrative Agent in same day funds 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
from time to time in effect and (ii) to the extent permitted by applicable law, such Term Loan Lender shall not assert any right
or claim to the Erroneous Payment, and hereby waives, any claim, counterclaim, defense or right of set-off or recoupment with respect
to any demand, claim or counterclaim by the Administrative Agent for the return of any Erroneous Payments received, including without
limitation waiver of any defense based on “discharge for value” or any similar doctrine. A notice of the Administrative Agent
to any Term Loan Lender under this clause (a) shall be conclusive, absent manifest error.

 

(b)               Without
limiting immediately preceding clause (a), each Term Loan Lender hereby further agrees that if it receives an Erroneous Payment
from the Administrative Agent (or any of its Affiliates) (x) that is in a different amount than, or on a different date from, that
specified in a notice of payment sent by the Administrative Agent (or any of its Affiliates) with respect to such Erroneous Payment (an
 “Erroneous Payment Notice”), (y) that was not preceded or accompanied by an Erroneous Payment Notice, or (z) that
such Term Loan Lender otherwise becomes aware was transmitted, or received, in error or by mistake (in whole or in part), in each case,
an error has been made (and that it is deemed to have knowledge of such error at the time of receipt of such Erroneous Payment) with respect
to such Erroneous Payment, and to the extent permitted by applicable law, such Term Loan Lender shall not assert any right or claim to
the Erroneous Payment, and hereby waives, any claim, counterclaim, defense or right of set-off or recoupment with respect to any demand,
claim or counterclaim by the Administrative Agent for the return of any Erroneous Payments received, including without limitation waiver
of any defense based on “discharge for value” or any similar doctrine.  Each Term Loan Lender agrees that, in each such
case, it shall promptly (and, in all events, within one Business Day of its knowledge (or deemed knowledge) of such error) notify the
Administrative Agent of such occurrence and, upon demand from the Administrative Agent, it shall promptly, but in all events no later
than one Business Day thereafter, return to the Administrative Agent the amount of any such Erroneous Payment (or portion thereof) as
to which such a demand was made in same day funds (in the currency so received), together with interest thereon in respect of each day
from and including the date such Erroneous Payment (or portion thereof) was received by such Term Loan Lender to the date such amount
is repaid to the Administrative Agent in same day funds 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 from time to time in effect.

 

(c)               The
Borrower and each other Loan Party hereby agrees that (x) in the event an Erroneous Payment (or portion thereof) is not recovered
from any Term Loan Lender that has received such Erroneous Payment (or portion thereof) for any reason, the Administrative Agent shall
be subrogated to all the rights of such Term Loan Lender with respect to such amount and (y) an Erroneous Payment shall not pay,
prepay, repay, discharge or otherwise satisfy any Obligations owed by the Borrower or any other Loan Party; except, in each case,
to the extent such Erroneous Payment is, and solely with respect to the amount of such Erroneous Payment that is, comprised of funds received
by the Administrative Agent from the Borrower or any other Loan Party for the purpose of making such Erroneous Payment.

 

(d)               Each
party’s obligations under this Section 9.13 shall survive the resignation or replacement of the Administrative Agent,
the termination of the Commitments or the repayment, satisfaction or discharge of all Obligations (or any portion thereof) under any Loan
Document.

 

    -76-

     

    

 

ARTICLE X

MISCELLANEOUS

 

10.01          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 Borrower or any other Loan Party therefrom, shall be effective unless in writing signed by the
Administrative Agent, the Required Lenders and the Borrower or the applicable Loan Party, as the case may be, and each such waiver or
consent shall be effective only in the specific instance and for the specific purpose for which given; provided that no such amendment,
waiver or consent shall:

 

(a)                [reserved];

 

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

 

(c)                postpone
any date fixed by this Agreement or any other Loan Document for any payment (excluding mandatory prepayments) of principal, interest,
fees or other amounts due to any Term Loan Lender without the written consent of such Term Loan Lender;

 

(d)                reduce
the principal of, or the rate of interest specified herein on, any Loan 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 (including interest accruing at
the Default Rate pursuant to Section 2.08(b)) without the written consent of each Term Loan Lender entitled to such amount;

 

(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 Term Loan Lender;

 

(f)                change
any provision of this Section 10.01 or the definitions of “Required Lenders” or any other provision hereof
specifying the number or percentage of Term Loan 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 Term Loan Lender;

 

(g)               release
all or substantially all of the Collateral in any transaction or series of related transactions, without the written consent of each Term
Loan Lender;

 

(h)               [reserved];

 

(i)                 [reserved];
or

 

(j)                 release
all or substantially all of the value of the Guaranty, without the written consent of each Term Loan Lender, except to the extent the
release of any Subsidiary from the Guaranty is permitted pursuant to Section 9.10 (in which case such release may be made
by the Administrative Agent acting alone upon receipt of a certificate from a Responsible Officer stating that such release is permitted
pursuant to the Loan Documents);

 

provided,
further, that (i) no amendment, waiver or consent shall, unless in writing and signed by the Administrative Agent in addition
to the Term Loan Lenders required above, affect the rights or duties of the Administrative Agent under this Agreement or any other Loan
Document; (ii) the Fee Letters may be amended, or rights or privileges thereunder waived, in a writing executed only by the parties
thereto and (iii) the right of any Affiliated Lender to approve or disapprove any amendment, waiver or consent or take any other
action or provide any direction hereunder or under any other Loan Document shall be set forth in Section 10.06(f).

 

    -77-

     

    

 

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 Term Loan Lenders or each affected Term Loan Lender may
be effected with the consent of the applicable Term Loan 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 Defaulting Lender and (y) any waiver, amendment
or modification requiring the consent of all Term Loan Lenders or each affected Term Loan Lender that by its terms affects any Defaulting
Lender disproportionately adversely relative to the other affected Term Loan Lenders shall require the consent of such Defaulting Lender.

 

If any Term Loan Lender does
not consent to a proposed amendment, waiver, consent or release with respect to any Loan Document that requires the consent of each Term
Loan Lender and that has been approved by the Required Lenders, the Borrower may replace such Non-Consenting Lender in accordance with
Section 10.13; provided that such amendment, waiver, consent or release can be effected as a result of the assignment
contemplated by such Section (together with all other such assignments required by the Borrower to be made pursuant to this paragraph).

 

10.02          Notices;
Effectiveness; Electronic Communications. (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 fax transmission or e-mail transmission 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 the Borrower or the Administrative Agent to the address, fax number, e-mail address or telephone number specified for such Person on
Schedule 10.02; and

 

(ii)            if
to any other Term Loan Lender, to the address, fax number, e-mail address or telephone number specified in its Administrative Questionnaire
(including, as appropriate, notices delivered solely to the Person designated by a Term Loan 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 fax transmission 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). Notwithstanding anything to the contrary herein, a Borrowing Notice and a Funding Notice shall be
deemed to have been given only when received by the Administrative Agent.

 

(b)               Electronic
Communications. Notices and other communications to the Administrative Agent and the Term Loan Lenders hereunder may be delivered
or furnished by electronic communication (including e-mail, FPML messaging and Internet or intranet websites) pursuant to procedures approved
by the Administrative Agent, provided that the foregoing shall not apply to notices to any Term Loan Lender pursuant to Article II
if such Term Loan Lender has notified the Administrative Agent that it is incapable of receiving notices under such Article by electronic
communication. The Administrative Agent or the Borrower may each, 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 acknowledgment from the intended recipient (such as by the “return receipt requested” function, as available,
return e-mail or other written acknowledgement) and (ii) notices and other communications posted to an Internet or intranet website
shall be deemed received by the intended recipient 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 address or other written acknowledgement) indicating
that such notice or communication is available and identifying the website address therefor; provided that for both clauses (i) and
(ii), if such notice or other communication is not sent during the normal business hours of the recipient, such notice, email or communication
shall be deemed to have been sent at the opening of business on the next Business Day for the recipient.

 

    -78-

     

    

 

(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 Term
Loan Lender 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 or notices through the Platform,
any other electronic platform or electronic messaging services, or through the Internet.

 

(d)               Change
of Address, Etc. Each of the Borrower and the Administrative Agent may change its address, fax number or telephone number or e-mail
address for notices and other communications hereunder by notice to the other parties hereto. Each other Term Loan Lender may change its
address, fax number or telephone number or e-mail address for notices and other communications hereunder by notice to the Borrower and
the Administrative Agent. In addition, each Term Loan 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, fax number and e- mail address to
which notices and other communications may be sent and (ii) accurate wire instructions for such Term Loan 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 and Term Loan Lenders. The Administrative Agent and the Term Loan Lenders shall be entitled to rely and act
upon any notices (including, without limitation, telephonic or electronic notices, Funding Notice, or Conversion/Continuation Notice)
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, each Term Loan 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.

 

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

 

    -79-

     

    

 

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 Term Loan Lenders; provided 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 Term Loan Lender from exercising setoff rights in accordance with Section 10.08
(subject to the terms of Section 2.13), or (c) any Term Loan 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) and (c) of the preceding proviso and subject to Section 2.13,
any Term Loan 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 the Ad
Hoc Group of Term Loan Lenders (including, without limitation, the Specified Lender Advisors), in connection with 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), including those out-of-pocket
expenses of the Administrative Agent in connection with the Platform and for providing accounting for the Lenders, and (ii) all out-of-pocket
expenses incurred by the Administrative Agent and any Ad Hoc Term Loan Lender (including the fees, charges and disbursements of any counsel),
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 Loans made hereunder, including all such out-of-pocket expenses
incurred during any workout, restructuring or negotiations in respect of such Loans. Expenses being reimbursed by the Loan Parties under
this Section 10.04(a) include, without limiting the generality of the foregoing, fees, costs and expense incurred in
connection with collateral monitoring, collateral reviews, appraisals and insurance reviews. All expenses of protecting, storing, warehousing,
insuring, handling, maintaining and shipping any Collateral, all Taxes payable with respect to any Collateral (including any sale thereof),
and all other payments required to be made by the Administrative Agent to any Person to realize upon any Collateral, shall be borne and
paid by the Borrower. The Administrative Agent shall not be liable or responsible in any way for the safekeeping of any Collateral, for
any loss or damage thereto (except for reasonable care in its custody while Collateral is in the Administrative Agent's actual possession),
for any diminution in the value thereof, or for any act or default of any warehouseman, carrier, forwarding agency or other Person whatsoever,
but the same shall be at Borrower's sole risk.

 

    -80-

     

    

 

(b)               Indemnification
by the Borrower. The Borrower shall indemnify the Administrative Agent (and any sub-agent thereof), each Term Loan Lender 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 fees, charges and disbursements
of any counsel for any Indemnitee) incurred by any Indemnitee or asserted against any Indemnitee by any Person (including 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 or 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 the use or proposed use of the proceeds therefrom,
(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 or any of the Borrower’s or such
Loan Party’s directors, shareholders or creditors, and regardless of whether any Indemnitee is a party thereto, IN ALL CASES,
WHETHER OR NOT CAUSED BY OR ARISING, IN WHOLE OR IN PART, OUT OF THE COMPARATIVE, CONTRIBUTORY OR SOLE NEGLIGENCE OF THE INDEMNITEE;
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, (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
(other than a breach by the Administrative Agent in its capacity as such), if the Borrower or such Loan Party has obtained a final and
nonappealable judgment in its favor on such claim as determined by a court of competent jurisdiction or (z) arose out of any claim,
actions, suits, inquiries, litigation, investigation or proceeding that does not involve an act or omission of the Borrower, any other
Loan Party or any of their Affiliates and that is brought solely by an Indemnitee against another Indemnitee; provided that the
Administrative Agent shall remain indemnified in such capacity.

 

(c)                Reimbursement
by Term Loan 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) or any Related Party of any of the foregoing,
each Term Loan Lender severally agrees to pay to the Administrative Agent (or any such sub-agent) or such Related Party, as the case may
be, such Term Loan 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 against
any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent) in connection with such capacity.
The obligations of the Term Loan Lenders under this subsection (c) are subject to the provisions of Section 2.12(d).
Without limitation of the foregoing, each Term Loan Lender agrees to reimburse the Administrative Agent (or any such sub-agent) promptly
upon demand for its applicable Percentage, as set forth above, of any reasonable and documented out-of-pocket expenses (including reasonable
attorney’s fees) incurred by the Administrative Agent (or any such sub-agent) in connection with the preparation, execution, delivery,
administration, modification, amendment or enforcement (whether through negotiation, legal proceeding or otherwise) of, or legal advice
in respect of rights or responsibilities under, this Agreement and each other Loan Document, to the extent that the Administrative Agent
(or any such sub-agent) is not reimbursed for such expenses by the Borrower.

 

(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 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.

 

    -81-

     

    

 

 

(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 and the indemnity provisions of Section 10.02(e) shall survive the resignation or
removal of the Administrative Agent, the replacement of any Term Loan Lender, the termination of the 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 or any Term Loan Lender, or the Administrative Agent or any Term Loan 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 or such Term Loan 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 Term Loan Lender 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 Term Loan Lenders 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
and the other Loan Documents shall be binding upon and inure to the benefit of the parties hereto and thereto and their respective successors
and assigns permitted hereby, except that the Borrower may not assign or otherwise transfer any of its rights or obligations hereunder
without the prior written consent of the Administrative Agent and each Term Loan Lender and no Term Loan Lender may assign or otherwise
transfer any of its rights or obligations hereunder except (i) to an assignee in accordance with the provisions of Section 10.06(b),
(ii) by way of participation in accordance with the provisions of Section 10.06(d), (iii) by way of pledge or assignment
of a security interest subject to the restrictions of Section 10.06(e) (and any other attempted assignment or transfer
by any party hereto shall be null and void) or (iv) to an Affiliated Lender in accordance with the provisions of Section 10.06(f).
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 and the Term Loan Lenders) any legal or
equitable right, remedy or claim under or by reason of this Agreement.

 

(b)            Assignments
by Term Loan Lenders. Any Term Loan 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(s) and the Loans); 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 Term Loan Lender’s Commitment and the Loans at the time
owing to it or contemporaneous assignments to related Approved Funds that equal at least the amount specified in paragraph (b)(i)(B) of
this Section in the aggregate or in the case of an assignment to a Term Loan Lender, an Affiliate of a Term Loan Lender or an Approved
Fund, no minimum amount need be assigned; and

 

    -82-

     

    

 

(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 the “Trade Date” is specified in the Assignment and Assumption, as of the Trade
Date, shall not be less than $500,000, 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);

 

(ii)           Proportionate
Amounts. Each partial assignment shall be made as an assignment of a proportionate part of all the assigning Term Loan Lender’s
rights and obligations under this Agreement and the other Loan Documents with respect to the Loans or the Commitment assigned;

 

(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 or delayed) 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 Term Loan
Lender or an Approved Fund initially; 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; and

 

(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 Term Loan Lender, an Affiliate of a Term Loan Lender or an Approved Fund with respect to a Term Loan Lender.

 

(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 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 Term Loan
Lender, shall deliver to the Administrative Agent an Administrative Questionnaire and such tax documentation as shall be required hereunder.

 

(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 (except to Affiliated Lenders subject to clause (f) below), (B) to any Borrower Competitor(C) to
any Defaulting Lender or any of its Subsidiaries, or any Person who, upon becoming a Term Loan Lender hereunder, would constitute any
of the foregoing Persons described in this clause (C), or (D) 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 Term Loan Lender hereunder
(and interest accrued thereon) and (y) acquire (and fund as appropriate) its full pro rata share of all 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.

 

    -83-

     

    

 

Subject to acceptance and
recording thereof by the Administrative Agent pursuant to subsection (c) of this Section 10.06, 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 Term Loan 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 Term Loan Lender’s
rights and obligations under this Agreement, such Term Loan 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; provided that except to the extent otherwise expressly agreed by the affected
parties, no assignment by a Defaulting Lender will constitute a waiver or release of any claim of any party hereunder arising from that
Lender’s having been a Defaulting Lender. Upon request, the Borrower (at its expense) shall execute and deliver a Note to the assignee
Term Loan Lender. Any assignment or transfer by a Term Loan 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 Term Loan Lender of a participation in such rights
and obligations in accordance with Section 10.06(d).

 

(c)            Register.
The Administrative Agent, acting solely for this purpose as an agent of the Borrower (and such agency being solely for U.S. Tax purposes),
shall maintain at the Administrative Agent’s Office a copy of each Assignment and Assumption delivered to it (or the equivalent
thereof in electronic form) and a register for the recordation of the names and addresses of the Term Loan Lenders, and the Commitments
of, and principal amounts of the Loans owing to, each Term Loan 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 Borrower, the Administrative Agent and the Term Loan Lenders
may treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Term Loan Lender hereunder for all purposes
of this Agreement, notwithstanding notice to the contrary. The Register shall be available for inspection by the Borrower and any Term
Loan Lender, at any reasonable time and from time to time upon reasonable prior notice.

 

(d)            Participations.
Any Term Loan 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 Borrower Competitor, 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 Term Loan Lender’s rights and/or
obligations under this Agreement (including all or a portion of its Commitment and/or the Loans; provided that (i) such Term
Loan Lender’s obligations under this Agreement shall remain unchanged, (ii) such Term Loan Lender shall remain solely responsible
to the other parties hereto for the performance of such obligations and (iii) the Borrower, the Administrative Agent and the Term
Loan Lenders shall continue to deal solely and directly with such Term Loan Lender in connection with such Term Loan Lender’s rights
and obligations under this Agreement. For the avoidance of doubt, each Term Loan Lender shall be responsible for the indemnity under
Section 10.04(c) without regard to the existence of any participations.

 

    -84-

     

    

 

Any agreement or instrument
pursuant to which a Term Loan Lender sells such a participation shall provide that such Term Loan 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 Term Loan 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 (other than those in the proviso in Section 10.01(d))
that affects such Participant. The Borrower agrees that each Participant shall be entitled to the benefits of Sections 3.01, 3.04
and 3.05 (subject to the requirements and limitations therein, including the requirements under Section 3.01(e) (it
being understood that the documentation required under Section 3.01(e) shall be delivered to the Term Loan Lender who
sells the participation)) to the same extent as if it were a Term Loan Lender and had acquired its interest by assignment pursuant to
paragraph (b) of this Section 10.06; provided that such Participant (A) agrees to be subject to the provisions
of Sections 3.06 and 10.13 as if it were an assignee under paragraph (b) of this Section and (B) shall not
be entitled to receive any greater payment under Sections 3.01 or 3.04, with respect to any participation, than the Term
Loan 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. Each
Term Loan Lender that sells a participation agrees, at the Borrower’s request and expense, to use reasonable efforts to cooperate
with the Borrower to effectuate the provisions of Section 3.06 with respect to any Participant. To the extent permitted by
law, each Participant also shall be entitled to the benefits of Section 10.08 as though it were a Term Loan Lender; provided
that such Participant agrees to be subject to Section 2.13 as though it were a Term Loan Lender. Each Term Loan Lender
that sells a participation shall, acting solely for this purpose as a non-fiduciary agent of the Borrower, 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 Term
Loan 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, 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 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 Term Loan 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.

 

(e)            Certain
Pledges. Any Term Loan 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 Term Loan Lender, including any pledge or assignment to secure
obligations to a Federal Reserve Bank (but other than any pledge or assignment to an Affiliated Lender); provided that no such
pledge or assignment shall release such Term Loan Lender from any of its obligations hereunder or substitute any such pledgee or assignee
for such Term Loan Lender as a party hereto.

 

(f)            Affiliated
Lenders.

 

(i)            Subject
to Section 10.06(b)(vii), each Term Loan Lender may assign all or any portion of its Loans hereunder to any Affiliated Lender
that is an Eligible Assignee, but only if: (w) no Default or Event of Default has occurred or is continuing or could result therefrom,
(x) the assigning Term Loan Lender and the Affiliated Lender shall execute and deliver to the Administrative Agent an Affiliated
Lender Assignment and Assumption and (y) after giving effect to such assignment, the aggregate principal amount of all Loans and
Commitments owned or held by Affiliated Lenders shall not exceed the aggregate principal amount of all Loans and Commitments owned or
held by Affiliated Lenders on the Closing Date (it being understood and agreed that in no event shall Affiliated Lenders hold any Loans
or Commitments at any time in excess of the amount of such Loans or Commitments owned or held by Affiliated Lenders on the Closing Date).

 

(ii)            No
Affiliated Lender shall have any right to (i) attend (including by telephone) any meeting, call or discussions (or portion thereof)
among the Administrative Agent or any Term Loan Lender to which representatives of the Borrower are not then present, (ii) receive
any information or material prepared by the Administrative Agent or any Term Loan Lender or any communication by or among the Administrative
Agent and one or more Term Loan Lenders, except to the extent such information or materials have been made available to the Borrower
or its representatives, (iii) make or bring (other than as a passive participant in or recipient of its pro rata benefits of) any
claim, in its capacity as a Term Loan Lender, against the Administrative Agent (except with respect to any rights expressly retained
by such Affiliated Lender under the Loan Documents, which shall not be required to be waived), or (iv) receive advice of counsel
to the Administrative Agent or any Term Loan Lender (other than counsel to an Affiliated Lender), or challenge the Administrative Agent’s
or any Term Loan Lender’s attorney-client privilege.

 

    -85-

     

    

 

(iii)          Notwithstanding
anything in Section 10.01 or the definition of “Required Lenders” to the contrary, for purposes of determining
whether the Required Lenders, all affected Term Loan Lenders or all Term Loan Lenders have (A) consented (or not consented) to any
amendment, modification, waiver, consent or other action with respect to any of the terms of any Loan Document or any departure by any
Loan Party therefrom, (B) otherwise acted on any matter related to any Loan Document, or (C) directed or required the Administrative
Agent or any Term Loan Lender to undertake any action (or refrain from taking any action) with respect to or under any Loan Document,
the Term Loans of such Affiliated Lender shall not be included in the calculation of Required Lenders (or to the extent any non-voting
designation is deemed unenforceable for any reason, an Affiliated Lender shall be deemed to have voted its interest as a Term Loan Lender
without discretion in the same proportion as the allocation of voting with respect to such matter by Term Loans Lenders who are not Affiliated
Lenders); provided that no amendment, modification, waiver, consent or other action with respect to any Loan Document shall increase
the Commitments of such Affiliated Lender, extend the due dates for payments of interest and scheduled amortization (including at maturity)
owed to any Affiliated Lender; reduce the amounts owing to any Affiliated Lender, or otherwise deprive such Affiliated Lender of any
payment to which it is entitled under any Loan Document or otherwise require the express written consent of all Term Loan Lenders pursuant
to Section 10.01, in each case without such Affiliated Lender providing its consent; provided, further, that any Affiliated
Lender shall be permitted to vote on any matter that affects any Affiliated Lender in a disproportionately adverse manner as compared
to other Term Loan Lenders. In furtherance of the foregoing, the Affiliated Lender agrees to execute and deliver to the Administrative
Agent any instrument reasonably requested by the Administrative Agent or the Required Lenders to evidence the voting of its interest
as a Term Loan Lender in accordance with the provisions of this Section 10.06(f); provided that if the Affiliated
Lender fails to promptly execute such instrument such failure shall in no way prejudice any of the Administrative Agent’s or any
Term Loan Lender’s rights under this paragraph; provided, further, that in the case of any amendment, modification,
waiver, consent or other action after giving effect to any voting nullification in respect of any Affiliated Lender, if such vote is
sufficient to effectuate any amendment, modification, waiver, consent or other action, such Affiliated Lender shall be deemed to have
voted affirmatively.

 

(iv)          Each
Affiliated Lender hereby agrees that if a proceeding under any Debtor Relief Law shall be commenced by or against the Borrower or any
of its Subsidiaries, such Affiliated Lender irrevocably authorizes and empowers the Administrative Agent to vote on behalf of such Affiliated
Lender with respect to the Loans held by such Affiliated Lender in any manner in the sole discretion of the Required Lenders, unless
the Administrative Agent (as directed by the Required Lenders) instructs such Affiliated Lender to vote, in which case such Affiliated
Lender shall vote with respect to the Loans held by it as the Administrative Agent (as directed by the Required Lenders) directs; provided
that such Affiliated Lender shall be entitled to vote in accordance with its sole discretion in connection with any plan of reorganization
to the extent any such plan of reorganization proposes to treat any Obligations held by such Affiliated Lender (solely in its capacity
as such) in a disproportionately adverse manner to such Affiliated Lender than the proposed treatment of similar Obligations held by
Term Loan Lenders that are not Affiliated Lenders.

 

    -86-

     

    

 

10.07      Treatment
of Certain Information; Confidentiality. Each of the Administrative Agent, the Term Loan Lenders
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 Related Parties (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 required or requested by any regulatory authority purporting to have jurisdiction over such Person or its Related Parties
(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, in each case that is an Eligible Assignee, any of its rights or obligations under this Agreement, (ii) [reserved] or
(iii) on a confidential basis to (A) any rating agency in connection with rating the Borrower or its Subsidiaries or the credit
facilities provided hereunder, (B) the provider of any Platform or other electronic delivery service used by the Administrative
Agent to deliver Borrower Materials or notices to the Term Loan Lenders or (C) the CUSIP Service Bureau or any similar agency in
connection with the issuance and monitoring of CUSIP numbers or other market identifiers with respect to the credit facilities provided
hereunder, (g) with the consent of the Borrower or (h) to the extent such Information (i) becomes publicly available other
than as a result of a breach of this Section 10.07 or (ii) becomes available to the Administrative Agent, any Term Loan
Lender 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 or any Term Loan
Lender on a nonconfidential basis prior to disclosure by the Borrower or any Subsidiary. 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 and the Term Loan Lenders 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.

 

The Loan Parties and their
Affiliates agree that they will not in the future issue any press releases or other public disclosure using the name of the Administrative
Agent or any Term Loan Lender or their respective Affiliates or referring to this Agreement or any of the Loan Documents without the
prior written consent of the Administrative Agent, unless (and only to the extent that) the Loan Parties or such Affiliate is required
to do so under law and then, in any event the Loan Parties or such Affiliate will use commercial reasonable efforts to consult with such
Person before issuing such press release or other public disclosure.

 

The Loan Parties consent
to the publication by the Administrative Agent or any Term Loan Lender of customary advertising material relating to the transactions
contemplated hereby using the name, product photographs, logo or trademark of the Loan Parties.

 

10.08      Right
of Setoff. If an Event of Default shall have occurred and be continuing, each Term Loan Lender
and each of their 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 Term Loan Lender or any such Affiliate to or for the credit
or the account of the Borrower against any and all of the obligations of the Borrower now or hereafter existing under this Agreement
or any other Loan Document to such Term Loan Lender, irrespective of whether or not such Term Loan Lender shall have made any demand
under this Agreement or any other Loan Document and although such obligations of the Borrower may be contingent or unmatured or are owed
to a branch or office of such Term Loan Lender 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 2.16
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 Term Loan 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 Term Loan Lender and their Affiliates under this Section 10.08 are in addition to other rights
and remedies (including other rights of setoff) that such Term Loan Lender or their Affiliates may have. Each Term Loan Lender agrees
to notify the Borrower and the Administrative Agent promptly after any such setoff and application, provided that the failure
to give such notice shall not affect the validity of such setoff and application.

 

    -87-

     

    

 

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 Term Loan 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 Term
Loan 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 and each of the other Loan Documents 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 or any other Loan Document, or any certificate delivered thereunder, by fax transmission or e-mail transmission (e.g.
 “pdf” or “tif”) shall be effective as delivery of a manually executed counterpart of this Agreement or such other
Loan Document or certificate.

 

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 Term Loan Lender, regardless of any investigation made by the Administrative Agent or any Term Loan Lender or on their
behalf and notwithstanding that the Administrative Agent or any Term Loan Lender may have had notice or knowledge of any Default at the
time of any Borrowing or Withdrawal, and shall continue in full force and effect as long as any Loan or any other Obligation hereunder
shall remain unpaid or unsatisfied.

 

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 then such provisions shall be deemed to be in effect only to the extent not so limited.

 

    -88-

     

    

 

10.13      Replacement
of Lenders. If the Borrower is entitled to replace a Term Loan Lender pursuant to the provisions
of Section 3.06, or if any Term Loan Lender is a Defaulting Lender or a Non-Consenting Lender or if any other circumstance
exists hereunder that gives the Borrower the right to replace a Term Loan Lender as a party hereto, then the Borrower may, at its sole
expense and effort, upon notice to such Term Loan Lender and the Administrative Agent, require such Term Loan 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 (other than its existing rights to payments pursuant to Sections 3.01 and 3.04) and obligations
under this Agreement and the related Loan Documents to an Eligible 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 (if any) specified in Section 10.06(b);

 

(b)            such
Term Loan Lender shall have received payment of an amount equal to 100% of the outstanding principal of its Loans, 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);

 

(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)            such
assignment does not conflict with applicable Laws; and

 

(e)            in
the case of an assignment resulting from a Term Loan Lender becoming a Non-Consenting Lender, the applicable assignee shall have consented
to the applicable amendment, waiver or consent.

 

A Term Loan Lender shall not be required to make
any such assignment or delegation if, prior thereto, as a result of a waiver by such Term Loan 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 AGREEMENT AND THE OTHER LOAN DOCUMENTS
(EXCEPT, AS TO ANY OTHER LOAN DOCUMENT, AS EXPRESSLY SET FORTH THEREIN) 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 IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

 

(b)            SUBMISSION
TO JURISDICTION. THE BORROWER IRREVOCABLY AND UNCONDITIONALLY AGREES THAT IT WILL NOT COMMENCE ANY ACTION, LITIGATION OR PROCEEDING
OF ANY KIND OR DESCRIPTION, WHETHER IN LAW OR EQUITY, WHETHER IN CONTRACT OR IN TORT OR OTHERWISE, AGAINST THE ADMINISTRATIVE AGENT,
ANY TERM LOAN LENDER, 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 NEW YORK SITTING IN NEW YORK COUNTY AND OF THE UNITED
STATES DISTRICT COURT OF THE SOUTHERN DISTRICT OF NEW YORK, AND ANY APPELLATE COURT FROM ANY THEREOF, AND EACH OF THE PARTIES HERETO
IRREVOCABLY AND UNCONDITIONALLY SUBMITS TO THE JURISDICTION OF SUCH COURTS AND AGREES THAT ALL CLAIMS IN RESPECT OF ANY SUCH ACTION,
LITIGATION OR PROCEEDING MAY BE HEARD AND DETERMINED IN SUCH NEW YORK STATE COURT OR, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE
LAW, IN SUCH FEDERAL COURT. EACH OF THE PARTIES HERETO AGREES THAT A FINAL JUDGMENT IN ANY SUCH ACTION, LITIGATION OR PROCEEDING
SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW. NOTHING
IN THIS AGREEMENT OR IN ANY OTHER LOAN DOCUMENT SHALL AFFECT ANY RIGHT THAT THE ADMINISTRATIVE AGENT, ANY TERM LOAN LENDER 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.

 

    -89-

     

    

 

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

 

(d)            SERVICE
OF PROCESS. EACH PARTY HERETO IRREVOCABLY CONSENTS TO SERVICE OF PROCESS IN THE MANNER PROVIDED FOR NOTICES IN SECTION 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.

 

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
acknowledges and agrees, and acknowledges its Affiliates’ understanding, that: (a)(i) the arranging and other services regarding
this Agreement provided by the Administrative Agent and any Affiliate thereof and the Term Loan Lenders 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, as applicable, its Affiliates and the Term Loan Lenders and their Affiliates (collectively, solely for purposes of this Section,
the “Term Loan Lenders”), on the other hand, (ii) 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 (iii) 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; (b)(i) the Administrative Agent and its Affiliates and each Term Loan Lender and its Affiliates
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 (ii) neither the Administrative Agent, any of its Affiliates nor any Term Loan Lender or any of its Affiliates
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 (c) the Administrative Agent and
its Affiliates and the Term Loan Lenders and their 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,
any of its Affiliates nor any Term Loan Lender or its Affiliates 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 each other
Loan Party hereby waives and releases any claims that it may have against the Administrative Agent, any of its Affiliates or any Term
Loan Lender or its Affiliates with respect to any breach or alleged breach of agency or fiduciary duty in connection with any aspect
of any transactions contemplated hereby.

 

    -90-

     

    

 

10.17      Electronic
Execution of Assignments and Certain Other Documents. This Agreement, the Loan Documents and
any other document, amendment, approval, consent, information, notice, certificate, request, statement, disclosure or authorization related
to this Agreement (each a “Communication”), including Communications required to be in writing, may be in the form
of an Electronic Record and may be executed using Electronic Signatures. Each Loan Party agrees that any Electronic Signature on or associated
with any Communication shall be valid and binding on such Loan Party to the same extent as a manual signature, and that any Communication
entered into by Electronic Signature, will constitute the legal, valid and binding obligation of such Loan Party enforceable against
such in accordance with the terms thereof to the same extent as if manually executed. Any Communication may be executed in as many counterparts
as necessary or convenient, including both paper and electronic counterparts, but all such counterparts are one and the same Communication.
For the avoidance of doubt, the authorization under this paragraph may include use or acceptance by Administrative Agent and each of
the Term Loan Lenders of a manually signed paper Communication which has been converted into electronic form (such as scanned into PDF
format), or an electronically signed Communication converted into another format, for transmission, delivery and/or retention. Administrative
Agent and each of the Term Loan Lenders may, at its option, create one or more copies of any Communication in the form of an imaged Electronic
Record (“Electronic Copy”), which shall be deemed created in the ordinary course of such Person’s business,
and destroy the original paper document. All Communications in the form of an Electronic Record, including an Electronic Copy, shall
be considered an original for all purposes, and shall have the same legal effect, validity and enforceability as a paper record. Notwithstanding
anything contained herein to the contrary, Administrative Agent is under no obligation to accept an Electronic Signature in any form
or in any format unless expressly agreed to by Administrative Agent pursuant to procedures approved by it; provided, further, without
limiting the foregoing, (a) to the extent Administrative Agent has agreed to accept such Electronic Signature, Administrative Agent
and each of the Term Loan Lenders shall be entitled to rely on any such Electronic Signature purportedly given by or on behalf of any
Loan Party without further verification and (b) upon the request of Administrative Agent or any Term Loan Lender, any Electronic
Signature shall be promptly followed by such manually executed counterpart. For purposes hereof, “Electronic Record”
and “Electronic Signature” shall have the meanings assigned to them, respectively, by 15 USC §7006, as it may
be amended from time to time.

 

10.18      USA
PATRIOT Act. The Administrative Agent and the Term Loan Lenders hereby notify the Borrower and
the other Loan Parties that pursuant to the Patriot Act, Agent and Lenders are required to obtain, verify and record information that
identifies each Loan Party, including its legal name, address, tax ID number and other information that will allow the Administrative
Agent and the Term Loan Lenders to identify it in accordance with the Patriot Act. The Loan Parties shall, promptly upon request, provide
all documentation and other information as the Administrative Agent or any Term Loan Lender may request from time to time for purposes
of complying with any "know your customer," anti-money laundering rules and regulations, or other requirements of Applicable
Law, including the Patriot Act and Beneficial Ownership Regulation.

 

10.19      [Reserved].

 

10.20      Credit
Inquiries. The Administrative Agent and the Term Loan Lenders may (but shall have no obligation)
to respond to usual and customary credit inquiries from third parties concerning any Loan Party or Subsidiary.

 

    -91-

     

    

 

10.21      Performance
of Borrower’s Obligations. The Administrative Agent may, in its discretion but without
obligation at any time and from time to time, at the Borrower’s expense, pay any amount or do any act required of the Borrower
or any other Loan Party under any Loan Documents or otherwise lawfully requested by the Administrative Agent to (a) enforce any
Loan Documents or collect any Obligations; (b) protect, insure, maintain or realize upon any Collateral; or (c) defend or maintain
the validity or priority of the Administrative Agent's Liens in any Collateral, including any payment of a judgment, insurance premium,
warehouse charge, finishing or processing charge, or landlord claim, or any discharge of a Lien. All payments, costs and expenses of
the Administrative Agent under this Section shall be reimbursed to the Administrative Agent by the Borrower, on demand, with interest
from the date incurred until paid in full, at the Default Rate applicable to Base Rate Loans. Any payment made or action taken by the
Administrative Agent under this Section shall be without prejudice to any right to assert an Event of Default or to exercise any
other rights or remedies under the Loan Documents.

 

10.22      Waivers
by Borrower. To the fullest extent permitted by Applicable Law, the Borrower waives (a) presentment,
demand, protest, notice of presentment, default, non-payment, maturity, release, compromise, settlement, extension or renewal of any
commercial paper, accounts, documents, instruments, chattel paper and guaranties at any time held by the Administrative Agent on which
the Borrower may in any way be liable, and hereby ratifies anything the Administrative Agent may do in this regard; (b) notice prior
to taking possession or control of any Collateral; (c) any bond or security that might be required by a court prior to allowing
the Administrative Agent to exercise any rights or remedies; (d) the benefit of all valuation, appraisement and exemption laws;
(e) any claim against an Indemnitee, on any theory of liability, for special, indirect, consequential, exemplary or punitive damages
(as opposed to direct or actual damages) in any way relating to any enforcement action, Obligations, Loan Documents or transactions relating
thereto; and (f) notice of acceptance hereof. The Borrower acknowledges that the foregoing waivers are a material inducement
to the Administrative Agent and the Term Loan Lenders entering into this Agreement and that they are relying upon the foregoing in their
dealings with the Borrower. The Borrower has reviewed the foregoing waivers, including the waiver of jury trial in Section 10.15,
with its legal counsel and has knowingly and voluntarily waived its jury trial and other rights following consultation with legal counsel.
In the event of litigation, this Agreement may be filed as a written consent to a trial by the court.

 

10.23      ENTIRE
AGREEMENT. THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT AMONG THE
PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE
NO UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES.

 

10.24      Acknowledgement
and Consent to Bail-In of Affected Financial Institutions. Notwithstanding anything to the contrary
in any Loan Document or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that
any liability of any Affected 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 the applicable 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 the applicable Resolution Authority to any such liabilities arising hereunder
which may be payable to it by any party hereto that is an Affected 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 Affected 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 the applicable Resolution
Authority.

 

The provisions of this Section 10.24
are intended to comply with, and shall be interpreted in light of, Article 55 of Directive 2014/59/EU of the European Parliament
and of the Council of the European Union.

 

[Remainder of This Page Intentionally Left
Blank]

 

    -92-

     

    

 

 

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

 

	 	BASIC ENERGY SERVICES, INC.
	 	 
	 	By:	/s/ Keith L. Schilling
	 	Name:	Keith L. Schilling
	 	Title:	President and Chief Executive Officer

 

[Signature
Page to Credit Agreement]

 

     

     

    

 

	 	CANTOR FITZGERALD SECURITIES
 as Administrative Agent
	 	 
	 	By:	/s/ James Buccola
	 	Name:	James Buccola
	 	Title:	Head of Fixed Income

 

[Signature
Page to Credit Agreement]

 

     

     

    

 

	 	CANTOR FITZGERALD SECURITIES
 as Term Loan Lender
	 	 
	 	By:	/s/ James Buccola
	 	Name:	James Buccola
	 	Title:	Head of Fixed Income

 

[Signature
Page to Credit Agreement]

 

     

     

    

 

	 	ASCRIBE III INVESTMENTS LLC
	 	 
	 	By:	/s/ Larry First
	 	Name:	Larry First
	 	Title:	Chief Investment Officer

 

[Signature
Page to Credit Agreement]

 

     

     

    

 

	 	BROAD STREET CREDIT HOLDINGS LLC,
 as Term Loan Lender
	 	 
	 	By:	/s/ Lee D Becker
	 	Name:	Lee D Becker
	 	Title:	Authorized Signatory

 

[Signature
Page to Credit Agreement]

 

     

     

    

 

	 	ARBOUR LANE – TX, L.P.
 By: Arbour Lane –
    TX GP, LLC
 Its General Partner,
 as Term Loan Lender
	 	 
	 	By:	/s/ Dan Galanter
	 	Name:	Dan Galanter
	 	Title:	Manager

 

[Signature
Page to Credit Agreement]

 

     

     

    

 

	 	PRIVATE DEDT INVESTORS FEEDER, LLC
 By: Guggenheim Corporate
    Funding, LLC
 as Manager,
 as Term Loan Lender
	 	 
	 	By:	/s/ John F. Mulreaney
	 	Name:	John F. Mulreaney
	 	Title:	 Attorney-in-Fact
	 	 
	 	GUGGENHEIM CREDIT INCOME FUND
 By: Guggenheim Partners
    Investment

 Management, LLC
 as Term Loan Lender
	 	 
	 	By:	/s/ Kevin M. Robinson
	 	Name:	Kevin M. Robinson
	 	Title:	Attorney-in-Fact
	 	 
	 	MAVERICK ENTERPRISES, INC
 By: Guggenheim Partners
    Investment 

Management, LLC, as Investment Manager,
 as Term Loan Lender
	 	 
	 	By:	/s/ Kevin M. Robinson
	 	Name:	Kevin M. Robinson
	 	Title:	Attorney-in-Fact

 

[Signature
Page to Credit Agreement]

 

     

     

    

 

	 	Whitebox Relative Value Partners, L.P.,
 as Term Loan
    Lender
 By: Whitebox Advisors LLC, its investment manager
	 	 
	 	By:	/s/ Luke Harris
	 	Name:	Luke Harris
	 	Title:	General Counsel – Corporate, Transactions& Litigation
	 	 
	 	Whitebox Credit Partners, L.P.,
 as Term Loan Lender

    By: Whitebox Advisors LLC, its investment manager
	 	 
	 	By:	/s/ Luke Harris
	 	Name:	Luke Harris
	 	Title:	General Counsel – Corporate, Transactions& Litigation
	 	 
	 	Whitebox GT Fund, LP,
 as Term Loan Lender
 By: Whitebox
    Advisors LLC, its investment manager,
	 	 
	 	By:	/s/ Luke Harris
	 	Name:	Luke Harris
	 	Title:	General Counsel – Corporate, Transactions& Litigation
	 	 
	 	Whitebox Multi-Strategy Partners, L.P.,
 as Term Loan Lender

    By: Whitebox Advisors LLC, its investment manager
	 	 
	 	By:	/s/ Luke Harris
	 	Name:	Luke Harris
	 	Title:	General Counsel – Corporate, Transactions& Litigation

 

[Signature
Page to Credit Agreement]

 

     

     

    

 

	 	Pandora Select Partners, L.P.,
 as Term Loan Lender

    By: Whitebox Advisors LLC, its investment manager,
	 	 
	 	By:	/s/ Luke Harris
	 	Name:	Luke Harris
	 	Title:	General Counsel – Corporate, Transactions& Litigation

 

[Signature
Page to Credit Agreement]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00327-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00327-of-00352.parquet"}]]