Document:

EXHIBIT
10.1

 

OPERATING
AGREEMENT

OF

GMDOC,
LLC

 

THIS
OPERATING AGREEMENT of GMDOC, LLC, (the “Company”), a Kansas limited liability company, is entered into effective as of the
Effective Time, by and among the Company and all of its Members.

 

ARTICLE
1

FORMATION
OF THE COMPANY

 

1.1 Formation.
The Company was formed upon the filing of the Articles of Organization. In consideration of the mutual promises and covenants contained
herein, and other good and valuable consideration, the parties hereto agree that the rights and obligations of the parties and the administration
and termination of the Company shall be governed by this Agreement, the Articles of Organization and the Act.

 

1.2 Name.
The name of the Company is GMDOC, LLC. The Company may operate under that name or any variation, or any other name or names deemed advisable
by the Managers.

 

1.3 Registered
Office and Resident Agent. The Company’s registered office and resident agent is as set forth in the Articles of Organization.

 

1.4 Principal
Place of Business. The principal place of business of the Company shall initially be at 1700 Waterfront Street, #600, Wichita, Kansas,
67206, and thereafter shall be at such place or places as the Managers shall from time to time deem necessary or advisable.

 

1.5 Purposes
and Powers.

 

(a) The
purpose of the Company it to own certain oil and gas interests in Kansas, and to engage in any other activity, and do all things necessary,
convenient or incident to carrying out such purpose.

 

(b) The
Company shall have any and all powers that are necessary or desirable to carry out the purposes and business of the Company, to the extent
the same may be legally exercised by limited liability companies under the Act.

 

1.6 Term.
The Company shall continue in perpetual existence from the date of its formation, unless the Company is earlier dissolved and its affairs
wound up in accordance with the provisions of this Agreement or the Act.

 

1.7 Nature
of Members’ Interests. The interests of the Members in the Company shall be personal property for all purposes. Legal title
to all Company Property shall be held in the name of the Company, and no Member shall have any right to any Property of the Company except
as provided for herein.

 

    	 

    	 

    

 

1.8 Waiver
of Rights of Partition. Each Member, on behalf of itself, its heirs, successors, representatives and assigns, hereby waives the right
to partition the Company and any Property owned by the Company.

 

1.9 No
State Law Partnership. The Company shall not be a partnership (including, without limitation, a limited partnership, joint venture,
or mining partnership) for any purpose other than for federal and state tax purposes. No Member shall be a partner, joint venturer, or
mining partner of any other Member by virtue of this Agreement, and neither this Agreement nor any other agreement entered into by the
Company or any Member shall be construed to suggest otherwise.

 

1.9 Operation
as a Single-Member LLC. If for any reason, including, without limitation, due to one or more Transfers, events or otherwise, all
of the Units of the Company become beneficially owned by one Member, the Company may, in the discretion of the sole Member, continue
in existence as a single member limited liability company under the Act until dissolved by said Member.

 

ARTICLE
2

DEFINITIONS

 

2.1 Definitions.
The following terms used in this Agreement shall have the following meanings (unless otherwise expressly provided herein):

 

(a) “Act”
means the Kansas revised limited liability company act, as the same may be amended from time to time.

 

(b) “Adjusted
Capital Account Deficit” means, with respect to any Member, the deficit balance, if any, in such Member’s Capital Account
as of the end of the relevant Fiscal Year, after giving effect to the following adjustments:

 

(i) Credit
to such Capital Account any amounts to which such Member is obligated to restore or is deemed to be obligated to restore pursuant to
the penultimate sentences of Treasury Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5); and

 

(ii) Debit
to such Capital Account the items described in Sections 1.704-l(b)(2)(ii)(d)(4), 1.704-l(b)(2)(ii)(d)(5), and 1.704-l(b)(2)(ii)(d)(6)
of the Treasury Regulations.

 

The
foregoing definition of Adjusted Capital Account Deficit is intended to comply with the provisions of Section 1.704-l(b)(2)(ii)(d) of
the Treasury Regulations and shall be interpreted consistently therewith.

 

    	 

    	 

    

 

(c) “Affiliate”
of a specified Person means (i) any Person directly or indirectly controlling, controlled by or under common control with the specified
Person; (ii) any officer, director, member, or partner of the specified Person; or (iii) any entity if the specified Person is an officer,
director, member, partner, or employee, of the entity.

 

(d) “Agreement”
means this Operating Agreement, as amended from time to time.

 

(e)
“Annual Business Plan” means a development plan and budget report for the next fiscal year to be prepared by Managers
and presented to the Members by November 30 of each preceding fiscal year.

 

(f) “Articles
of Organization” means the Articles of Organization of the Company filed with the Secretary of State of Kansas on February
25, 2022, as amended or restated from time to time.

 

(g) “Capital
Account” means, with respect to any Member, the capital account maintained for such Member in accordance with Section 3.2 of
this Agreement.

 

(h) “Capital
Contribution” means all contributions of cash, property or rights (valued for this purpose at initial Gross Asset Value) made
by a Member or its predecessor in interest, and may include the proceeds of any financing obtained by a Member to acquire one or more
Units.

 

(i) “Capital
Transaction” means any transactions undertaken by the Company or by any entity in which the Company owns an interest, which,
were it to generate proceeds, would produce Company Sales Proceeds or Company Refinancing Proceeds.

 

(j) “Code”
means the Internal Revenue Code, as amended from time to time (and any corresponding provisions of succeeding law).

 

(k) “Depreciation”
means, for each Fiscal Year, an amount equal to the depreciation, amortization, or other cost recovery deduction allowable with respect
to an asset for such Fiscal Year, except that if the Gross Asset Value of an asset differs from its adjusted basis for federal income
tax purposes at the beginning of such Fiscal Year, Depreciation shall be an amount which bears the same ratio to such beginning Gross
Asset Value as the federal income tax depreciation, amortization, or other cost recovery deduction for such Fiscal Year bears to such
beginning adjusted tax basis; provided, however, that if the adjusted basis for federal income tax purposes of an asset
at the beginning of such Fiscal Year is zero, Depreciation shall be determined with reference to such beginning Gross Asset Value using
any reasonable method selected by the Managers.

 

(l) “Distribution”
means any money or other Property distributed to a Member with respect to the Member’s Membership Interest, but shall not include
any payment to a Member for materials or services rendered nor any reimbursement to a Member for expenses permitted in accordance with
this Agreement.

 

    	 

    	 

    

 

(m) “Encumbrance”
means any lien, mortgage, pledge, negative pledge, encumbrance, collateral assignment or hypothecation.

 

(n) “Effective
Time” means the File date and File time indicated on the Limited Liability Company Articles of Organization filed with the
Secretary of State of Kansas.

 

(o) “Fiscal
Quarter” means a three-month period, four periods of which running consecutively comprise the entirety of a Fiscal Year.

 

(p) “Fiscal
Year” means an annual accounting period of each year during the term of the Company as specified by the Managers.

 

(q) “Gains
from Capital Transactions” means the gains realized by the Company as a result of or upon any sale, exchange, condemnation
or other disposition of capital assets of the Company or any entity in which the Company shall own an interest (which assets shall include
Code Section 1231 assets and all real and personal property) or as a result of or upon damage to or destruction of such capital assets.

 

(r) “Gross
Asset Value” means, with respect to any asset, the asset’s adjusted basis for federal income tax purposes, except as
follows:

 

(i) The
initial Gross Asset Value of any asset contributed by a Member to the Company shall be the gross fair market value of such asset, as
determined by the contributing Member and the Managers; provided that, if the contributing Member and the Managers cannot agree on the
fair market value of a contributed asset, such determination shall be made by appraisal;

 

(ii) The
Gross Asset Values of all Company assets shall be adjusted to equal their respective gross fair market values, as determined by the Managers,
as of the following times: (a) the acquisition of an additional interest in the Company (other than upon the initial formation of the
Company) by any new or existing Member in exchange for more than a de minimis Capital Contribution; (b) the Distribution by the Company
to a Member of more than a de minimis amount of Property as consideration for an interest in the Company; and (c) the liquidation of
the Company within the meaning of Treasury Regulations Section 1.704-l(b)(2)(ii)(g); provided, however, that the adjustments
pursuant to clauses (a) and (b) above shall be made only if the Managers reasonably determine that such adjustments are necessary or
appropriate to reflect the relative economic interests of the Members in the Company;

 

(iii) The
Gross Asset Value of any Company asset distributed to any Member shall be adjusted to equal the gross fair market value of such asset
on the date of distribution as determined by the distributee and the Managers; provided that, if the distributee and the Managers cannot
agree on the determination of the fair market value of the distributed asset, such determination shall be made by appraisal; and

 

(iv) The
Gross Asset Values of Company assets shall be increased (or decreased) to reflect any adjustments to the adjusted basis of such assets
pursuant to Code Section 734(b) or Code Section 743(b), but only to the extent that such adjustments are taken into account in determining
Capital Accounts pursuant to Treasury Regulations Section 1.704-l(b)(2)(iv)(m) and subsection (vi) under “Profits and Losses”
as defined hereunder and 10.11 hereof; provided, however, that Gross Asset Values shall not be adjusted pursuant to this
subsection (iv) to the extent the Managers determine that an adjustment pursuant to subsection (ii) hereof is necessary or appropriate
in connection with a transaction that would otherwise result in an adjustment pursuant to this subsection (iv).

 

    	 

    	 

    

 

If
the Gross Asset Value of an asset has been determined or adjusted pursuant to subsections (ii), (iii), or (iv) hereof, such Gross Asset
Value shall thereafter be adjusted by the Depreciation taken into account with respect to such asset for purposes of computing Profits,
Gains from Capital Transactions or Losses.

 

(s) “Majority
in Interest” means any Member or Members holding an aggregate of more than fifty percent (50%) of the Percentage Interests
held by all Members. Whenever this Agreement provides that a Majority in Interest is to be determined by excluding a Member(s) or is
to be determined out of only certain Members, then Majority in Interest means any Member or group of Members holding an aggregate of
more than fifty percent (50%) of the Percentage Interests held by all Members other than the excluded Member or Members.

 

(t) “Manager”
means each Person so designated as a Manager of the Company pursuant to Section 5.1 of this Agreement. “Managers”
refers to such Persons as a group.

 

(u) “Member”
means each Person designated as a Member of the Company, as set forth on Schedule 1 attached hereto, or any other Person admitted
as a Member of the Company in accordance with this Agreement or the Act. “Members” refers to such Persons as a group.

 

(v) “Member
Minimum Gain” means an amount, with respect to each Member Nonrecourse Debt, equal to the Minimum Gain that would result if
such Member Nonrecourse Debt were treated as a Nonrecourse Liability, determined in accordance with Treasury Regulations Section 1.704-2(i).

 

(w) “Member
Nonrecourse Debt” has the same meaning as either “partner nonrecourse debt” or “partner nonrecourse liability”
as defined in Treasury Regulations Section 1.704-2(b)(4), and means any nonrecourse debt (for the purposes of Treasury Regulations Section
1.1001-2) of the Company for which any Member bears the “economic risk of loss,” within the meaning of Treasury Regulations
Section 1.752-2.

 

(x) “Member
Nonrecourse Deductions” has the same meaning as “partner nonrecourse deductions” as described in Treasury Regulations
Section 1.704-2(i). The amount of Member Nonrecourse Deductions with respect to Member Nonrecourse Debt for any Fiscal Year equals the
excess, if any, of (a) the net increase, if any, in the amount of Member Minimum Gain attributable to such Member Nonrecourse Debt during
Fiscal Year, over (b) the aggregate amount of any Distributions during that Fiscal Year to the Member that bears the economic risk of
loss of such Member Nonrecourse Debt to the extent such Distributions are from the proceeds of such Member Nonrecourse Debt and are allocable
to an increase in Member Minimum Gain attributable to such Member Nonrecourse Debt, determined in accordance with Treasury Regulations
Section 1.704-2(i).

 

    	 

    	 

    

 

(y) “Membership
Interest” or “Interest” means all of a Member’s rights in the Company, including without limitation,
the Member’s share of the Profits and Losses of the Company, the right to receive Distributions of the Company’s assets (including
such Member’s Capital Account and all incidents thereto under this Agreement), any right to vote and any right to participate in
the management of the Company as provided in the Act and this Agreement.

 

(z) “Minimum
Gain” has the same meaning as “partnership minimum gain” as defined in Treasury Regulations Section 1.704-2(d).

 

(aa)
“Nonrecourse Deductions” means “nonrecourse deductions” as set forth in Treasury Regulations Section
1.704-2(b)(1). The amount of Nonrecourse Deductions for a given Fiscal Year equals the excess, if any, of (a) the net increase, if
any, in the amount of Minimum Gain during such Fiscal Year, over (b) the aggregate amount of any Distributions during such Fiscal
Year of proceeds of a Nonrecourse Liability that are allocable to an increase in Minimum Gain, determined according to the
provisions of Treasury Regulations Section 1.704-2(h).

 

(bb)
“Nonrecourse Liability” has the same meaning as set forth in Treasury Regulations Section 1.704-2(b)(3), and
means any Company liability (or portion thereof) for which no Member bears the “economic risk of loss,” within the
meaning of Treasury Regulations Section 1.752-2.

 

(cc)
“Percentage Interest” means, with respect to each Member, the number of Units owned, in whole or in fraction, by
such Member divided by the total number of issued and outstanding Units. The initial Percentage Interests of the Members are set
forth on Schedule 1.

 

(dd)
“Person” means an individual, a trust, an estate, a domestic or foreign corporation, partnership, limited
partnership, limited liability company, or an unincorporated association or other entity.

 

(ee)
“Profits” and “Losses” means, for each Fiscal Year, an amount equal to the Company’s taxable
income or loss for such year or period (excluding Gains from Capital Transactions), determined in accordance with Code Section 703(a)
(for this purpose, all items of income, gain, loss, or deduction required to be stated separately pursuant to Code Section 703(a)(1)
shall be included in taxable income or loss), with the following adjustments:

 

(i) Any
income of the Company that is exempt from federal income tax and not otherwise taken into account in computing Profits and Losses pursuant
to this subsection (excluding Gains from Capital Transactions) shall be added to such taxable income or loss;

 

    	 

    	 

    

 

(ii) Any
expenditures of the Company described in Code Section 705(a)(2)(B) or treated as Code Section 705(a)(2)(B) expenditures pursuant to Treasury
Regulations Section 1.704-l(b)(2)(iv)(i), and not otherwise taken into account in computing Profits or Losses pursuant to this subsection
shall be subtracted from such taxable income or loss;

 

(iii) In
the event the Gross Asset Value of any Company asset is adjusted pursuant to subsection (ii) or (iii) of the definition of Gross Asset
Value, the amount of such adjustment shall be taken into account as gain or loss from the disposition of such asset for purpose of computing
Profits or Losses;

 

(iv) Gain
or loss resulting from any disposition of Property with respect to which gain or loss is recognized for federal income tax purposes shall
be computed by reference to the Gross Asset Value of the Property disposed of, notwithstanding that the adjusted tax basis of such Property
differs from its Gross Asset Value;

 

(v) In
lieu of the depreciation, amortization and other cost recovery deductions taken into account in computing such taxable income or loss,
there shall be taken into account Depreciation for such fiscal year or other period, computed in accordance with this agreement;

 

(vi) To
the extent an adjustment to the adjusted tax basis of any Company asset pursuant to Code Section 734(b) or Code Section 743(b) is required
pursuant to Treasury Regulations Section 1.704-l(b)(2)(iv)(m)(4) to be taken into account in determining Capital Accounts as a result
of a Distribution other than in liquidation of a Member’s interest in the Company, the amount of such adjustment shall be treated
as an item of gain (if the adjustment increases the basis of the asset) or loss (if the adjustment decreases the basis of the asset)
from the disposition of the asset and shall be taken into account for purposes of computing Profits and Losses; and

 

(vii) Notwithstanding
any other provision of this subsection, any items which are specially allocated pursuant to Sections 4.3 and 4.4 shall not be taken into
account in computing Profits and Losses.

 

The
amounts of the items of Company income, gain, loss or deduction available to be specially allocated pursuant to Sections 4.3 and 4.4
shall be determined by applying rules analogous to those set forth in subsections (i) through (vi) above.

 

(ff)
“Property” means (i) any and all assets and property acquired by the Company, whether real or personal, or mixed (including,
without limitation, intangible property, possessory and non-possessory interests in property, working interests, and wells, pipeline
and appurtenant equipment), and (ii) any and all of the improvements constructed on any real property.

 

    	 

    	 

    

 

(gg)
“Refinancing Proceeds” means (i) the cash realized from the financing or refinancing of all or any portion of the
Property or other Company assets, less the retirement of any related loans secured by the Property (e.g., a mortgage) or other Company
assets, or any interest therein, and the payment of all expenses relating to the transaction and a reasonable reserve for future expenditures
as provided herein and (ii) the Company’s allocable portion of cash realized by an entity in which the Company owns an interest
from such entity financing or refinancing all or any portion of such entity’s assets, less the retirement of any related loans
secured by the Property or other Company assets, or any interest therein, and the payment of all expenses relating to such transaction
and a reasonable reserve for future expenditures as provided herein.

 

(hh)
“Regulations” means the regulations promulgated by the United States Department of the Treasury under the Code (or
under any applicable successor thereto).

 

(ii)
“Sales Proceeds” means (i) the cash realized from the sale, exchange, condemnation, casualty or other disposition
of all or any portion of the Property or other Company assets, less the retirement of any related loans secured by the Property (e.g.,
a mortgage) or other Company assets, or any interest therein, and the payment of all expenses relating to the transaction and a reasonable
reserve for future expenditures as provided herein and (ii) the Company’s allocable portion of cash realized by an entity in which
the Company owns an interest from the sale, exchange, condemnation, casualty or other disposition of all or any portion of such entity’s
assets, less the retirement of any related loans secured by the Property or other Company assets, or any interest therein, and the payment
of all expenses relating to such transaction and a reasonable reserve for future expenditures as provided for herein.

 

(jj)
“Super-Majority in Interest” means any Member or Members holding an aggregate of more than eighty percent (80%) of
the Percentage Interests held by all Members. Whenever this Agreement provides that a Super-Majority in Interest is to be determined
by excluding a Member(s) or is to be determined out of only certain Members, then Super-Majority in Interest means any Member or group
of Members holding an aggregate of more than eighty percent (80%) of the Percentage Interests held by all Members other than the excluded
Member or Members.

 

(kk)
“Transfer” means the sale, conveyance, pledge, hypothecation or transfer by any other means a Unit or Membership Interest
in the Company. “Transferor” refers to the Member effecting the Transfer. “Transferee” means the
Person to whom the Transfer is intended.

 

(ll)
“Unit” or “Units” means the increments of Membership Interest offered, issued, or authorized under
the provisions of this Agreement.

 

    	 

    	 

    

 

ARTICLE
3

CAPITALIZATION

 

3.1 Membership Units. There shall initially be twenty-eight (28) authorized Units in the Company,
which Units shall be issued to the Members as reflected on Schedule 1, and outstanding. Ownership of a fraction of a Unit shall
be permitted. Each Member shall be entitled to vote its Percentage Interest. The Managers, in their discretion, may from time to time
authorize additional Units in the Company.

 

3.2 Member
Capital Accounts. An individual Capital Account shall be maintained by the Company for each Member. Such Capital Account shall be
maintained in accordance with the provisions of Regulation § 1.704-1(b)(2)(iv). In accordance with Code § 704(c) and the Regulations,
income, gain, loss, and deduction (under the provisions of Article 4) with respect to any property contributed to the capital of the
Company (and, in the event the value of any Company asset is adjusted to its gross fair market value, subsequent allocations of income,
gain, loss, and deduction with respect to such asset) shall be allocated among the Members so as to take account of any variation between
the adjusted basis of such property to the Company for federal income tax purposes and its fair market value as reflected on the books
of the Company. It is the intention of the Members by this provision to comply with the provisions of Code § 704(c), and all computations
for income tax purposes with respect to such contributed property shall be made in accordance with the Regulations. Provisions concerning
Capital Accounts and other provisions of this Agreement relating to the maintenance of Capital Accounts are intended to comply with applicable
Regulations and shall be interpreted and applied in a manner consistent with such Regulations. The Members shall make such adjustments
as are necessary or appropriate to maintain equality between the Capital Accounts of the Members and the amount of Company capital reflected
on the Company’s balance sheet as computed for book purposes, in accordance with applicable Regulations, and shall make such other
appropriate modifications in the event unanticipated events might cause this Agreement not to comply with applicable Regulations.

 

3.3 Initial
Capital Contributions. The initial Units will be issued to: (1) the Persons listed as Members on the attached Schedule 1 who
shall deliver the assigned corresponding initial Capital Contribution as described and set forth on Schedule 1.

 

3.4 Company
Capital. Except as otherwise expressly provided in this Agreement (i) no Member shall be entitled to withdraw, receive any return
of, or reduce such Member’s Capital Contribution or Capital Account or to receive any distributions from the Company, (ii) no Member
shall be entitled to demand or receive Property or any asset other than cash in return for such Member’s Capital Contribution or
as part of any distribution, (iii) no Member shall be entitled to receive or be credited with any interest on any Capital Contribution
or the balance in such Member’s Capital Account at any time, and (iv) no Member shall have any priority over any other Member as
to the return of the Capital Contribution of such Member or the balance in such Member’s Capital Account.

 

3.5 Additional
Capital Contributions. No Member shall be required to make any Capital Contribution to the Company beyond their initial contribution
as described in Section 3.3. The Managers, in their sole discretion, may do one or more of the following:

 

(a)
Issue additional Units for sale to existing Members to raise additional capital for the Company;

 

(b)
Issue additional Units for sale to new members to raise additional capital for the Company, and admit said new members to the
Company on such terms as the Manager may determine. Existing Members shall have no preemptive rights to acquire additional Units if
the sale of additional Units to new members are authorized; and

 

(c)
Authorize additional Units to issue in connection with the capital raising activities described in Sections 3.5(a) and
3.5(b).

 

    	 

    	 

    

 

If
additional Units are issued to any new or existing Member, then each Member’s Percentage Interest may or may not be diluted in
accordance with the number of additional Units issued and the proportions to which said additional Units are issued to each new or existing
Member. The Percentage Interest of any Member who does not participate in the issuance of new Units will be reduced on the same basis,
and if additional Units are issued to new Member(s), then each existing Member’s Percentage Interest will be reduced on the same
basis. The Managers shall, following the issuance of any additional Units, prepare an updated schedule of Members that tabulates the
number Units issued to each Member, each Member’s respective contributions to the Company and current Percentage Interest, and
the value of each Member’s Capital Account.

 

3.6 Member
Loans. Any Member may (but shall not be obligated to) make a loan to the Company in such amounts, at such times, and on such terms
and conditions as may be approved as provided for herein. Loans by any Member to the Company shall not be considered as contributions
to the capital of the Company.

 

ARTICLE
4

MEMBER
ALLOCATIONS AND DISTRIBUTIONS

 

4.1 Non-Liquidation
Distributions. Cash, which the Managers determine is available for distribution to the Members, shall be distributed on a quarterly
basis, provided, that the Managers may retain a reasonable reserve of cash for anticipated operating and capital expenditures of the
Company.

 

Except
for liquidating distributions, which shall be made in accordance with Section 9.4, all amounts distributed shall be distributed to the
Members in accordance with their Percentage Interests as of the time of such distribution. All distributions to the Members shall be
made in cash, and no Member shall have the right to receive distributions of Property other than cash either during the term of the Company
or upon its dissolution. No Member may be compelled to accept a distribution of any Property other than cash from the Company except
to the extent all Members receive undivided ownership interests therein that are in proportion to their respective Percentage Interests.

 

4.2
Allocation of Income and Loss. After giving effect to the special allocations set forth in Sections 4.3 and 4.4, income, gain, loss,
deduction, and credits for each taxable year shall be allocated among the Members in accordance with their respective Percentage Interests.
To the extent there is a change in the respective Percentage Interests of the Members during the year, income, gain, loss, deduction,
and credits shall be allocated among the pre-adjustment and post-adjustment periods as provided in the Code and the Regulations.

 

    	 

    	 

    

 

4.3 Special
Allocations. The following special allocations shall be made in the following order:

 

(a) Company Minimum Gain Chargeback. Notwithstanding any other provision of this Article
4, if there is a net decrease in Company minimum gain during any Company fiscal year, each Member shall be specially allocated items
of Company income and gain for such year (and, if necessary, subsequent years) in an amount equal to such Member’s share of the
net decrease in Company minimum gain, determined in accordance with Regulation ‘ 1.704-2(g). Allocations pursuant to the previous
sentence shall be made in proportion to the respective amounts required to be allocated to each Member pursuant thereto. The items to
be so allocated shall be determined in accordance with Regulations §§ 1.704-2(f)(6) and 1.704-2(j)(2). This Section 4.3(a)
is intended to comply with the minimum gain chargeback requirement in Regulation ‘ 1.704-2(f) and shall be interpreted consistently
therewith.

 

(b) Member Minimum Gain Chargeback. Except as otherwise provided in Regulation § 1.704-2(i)(4),
notwithstanding any other provision of this Article 4, if there is a net decrease in Member Nonrecourse Debt minimum gain attributable
to a Member nonrecourse debt during any Company fiscal year, each Member who has a share of the Member Nonrecourse Debt Minimum Gain
attributable to such Member nonrecourse debt, determined in accordance with Regulation § 1.704-2(i)(5), shall be specially allocated
items of Company income and gain for such fiscal year (and, if necessary, subsequent fiscal years) in an amount equal to such Member’s
share of the net decrease in Member Nonrecourse Debt Minimum Gain attributable to such Member Nonrecourse Debt, determined in accordance
with Regulations § 1.704-2(i)(4). Allocations pursuant to the previous sentence shall be made in proportion to the respective amounts
required to be allocated to each Member pursuant thereto. The items to be so allocated shall be determined in accordance with Regulations
§§ 1.704-2(i)(4) and 1.704-2(j)(2). This Section 4.3(b) is intended to comply with the Minimum Gain chargeback requirement
in Regulation § 1.704-2(i)(4) and shall be interpreted consistently therewith.

 

(c) Qualified Income Offset. In the event any Member receives any adjustment, allocation,
or distribution described in Regulations §§ 1.704-1(b)(2)(ii)(d)(4) through 1.704-1(b)(2)(ii)(d)(6), which causes or increases
a deficit in such Member’s Capital Account as of the end of the tax year to which the adjustment, allocation or distribution relates,
items of Company income and gain shall be specially allocated to each such Member in an amount and manner sufficient to eliminate, to
the extent required by the Regulations, the Capital Account deficit of such Member as quickly as possible, provided that an allocation
pursuant to this Section 4.3(c) shall be made if and only to the extent that such Member would have a Capital Account deficit after all
other allocations provided for in this Article 4 have been tentatively made as if this Section 4.3(c) were not in this Agreement. This
Section 4.3(c) is intended to comply with the qualified income offset requirement in Regulation § 1.704-1(b)(2)(ii)(d) and shall
be interpreted consistently therewith.

 

(d) Nonrecourse Deductions. Nonrecourse deductions for any Fiscal Year shall be specially
allocated to the Members in accordance with their respective Percentage Interests.

 

    	 

    	 

    

 

(e) Member Nonrecourse Deductions. Any Member Nonrecourse Deductions for any Fiscal Year
shall be specially allocated to the Member who bears the economic risk of loss with respect to the Member Nonrecourse Debt to which such
Member Nonrecourse Deductions are attributable in accordance with Regulation § 1.704-2(i).

 

(f)  Section 754 Adjustments. To the extent an adjustment to the adjusted tax basis of any
Company asset pursuant to Code § 734(b) or Code § 743(b) is required, pursuant to Regulation § 1.704-1(b)(2)(iv)(m), to
be taken into account in determining Capital Accounts as the result of a distribution to a Member in complete liquidation of such Member’s
interest in the Company, the amount of such adjustment to the Capital Accounts shall be treated as an item of gain (if the adjustment
increases the basis of the asset) or loss (if the adjustment decreases such basis) and such gain or loss shall be specially allocated
to the Members in a manner consistent with which their Capital Accounts are required to be adjusted pursuant to such section of the Regulations.

 

4.4 Curative
Allocations. The allocations set forth in Section 4.3 (the “Regulatory Allocations”) are intended to comply with
certain requirements of the Regulations. It is the intent of the Members that, to the extent reasonably possible, all Regulatory Allocations
shall be offset either with other Regulatory Allocations or with special allocations of other items of Company income, gain, loss, and
deduction pursuant to this Section 4.4. Therefore, notwithstanding any other provision of this Article 4 (other than the Regulatory Allocations),
the Company shall make such offsetting special allocations in whatever manner the Managers determine appropriate so that, after such
offsetting allocations are made, each Member’s Capital Account balance is, to the extent reasonably possible, equal to the Capital
Account balance such Member would have had if the Regulatory Allocations were not part of this Agreement and all Company items had been
allocated pursuant to Section 4.2. In exercising the discretion under this Section 4.4, the Managers shall take into account future Regulatory
Allocations under Sections 4.3(a) and 4.3(b) that, although not yet made, are likely to offset other Regulatory Allocations previously
made under Sections 4.3(d) and 4.3(e). Any determination made pursuant to this Section 4.4 shall be by the Managers.

 

4.5 Section
704(c). Under Regulations prescribed pursuant to § 704(c), income, gain, loss and deduction with respect to property contributed
to the Company by a Member shall be shared among Members so as to take account of the variation between the basis of the property to
the Company and its fair market value at the time of contribution. Any items allocated under this Section 4.5 shall not be debited or
credited to Capital Accounts to the extent that such item is already taken into account (upon formation or otherwise) in determining
a Member’s Capital Account.

 

4.6 Miscellaneous
Allocation Rules. If and to the extent that any Member is deemed to recognize income as a result of §§ 482, 483, 1272 through
1274, or 7872 of the Code, or any similar provision now or hereafter in effect, any corresponding resulting loss or deduction of the
Company shall be allocated to the Member who is charged with the income under such section of the Code.

 

4.7 Tax
Credits. All tax credits for federal or state income tax purposes shall be allocated among the Members in the same manner as income.

 

    	 

    	 

    

 

4.8 Decision
by Managers. Any elections or other decisions relating to distributions and allocations under this Article 4 shall be made by the
Managers in any manner that reasonably reflects the purpose and intention of this Agreement.

 

4.9 Partnership
Representative. For any year for which Company qualifies to opt out of the centralized partnership audit regime under § 6221
of the Code, the Company shall do so on its yearly tax return. For any year for which it is not eligible to opt out under § 6221,
the remaining provisions of this section shall apply.

 

The
Members hereby appoint Michael J. Reilly as the partnership representative of the Company pursuant to § 6223(a) of the Code
(the “Partnership Representative”). The relationship of the Partnership Representative to the Members shall be that of a
fiduciary, and the Partnership Representative shall have a fiduciary obligation to perform his duties in such manner as will serve the
best interests of the Members. The Partnership Representative shall receive no fees or compensation for its services in such capacity
but shall be reimbursed by the Company for all reasonable costs and expenses incurred by him in discharging his duties and responsibilities
as Partnership Representative.

 

The
Partnership Representative shall provide prompt notice to the Members of any inquiry or other communication received from the IRS regarding
the tax treatment of the Company or Members, of the commencement of an IRS audit, options concerning certain elections available under
the Code, confirmation certain elections have been made, when any assessment has been made by the IRS, when any and all meetings with
the IRS shall occur, and information on options available to appeal the assessment. In the event an IRS assessment is made affecting
the Members or the Company, the Members each hereby agree to file an amended return under § 6225 of the Code to reflect the tax
as it should have been for the year that is being audited. Each Member acknowledges that, notwithstanding the transfer or liquidation
of all or any portion of its Interest in the Company, it may remain liable for taxes with respect to its allocable share of income and
gain of the Company for the Company’s taxable years (or portions thereof) prior to such transfer or liquidation. The obligations
of each Member or Former Member under this Section shall survive the transfer or redemption by such Member of its Interest and the termination
of this Agreement or the dissolution of the Company.

 

To
the extent that a portion of the taxes imposed under § 6225 relates to a former Member, the former Member shall indemnify the Company
for its allocable portion of such tax (including any penalties, additions to tax, additional amounts, and interest). Each Member acknowledges
that, notwithstanding the transfer or liquidation of all or any portion of its Interest in the Company, it may remain liable for taxes
with respect to its allocable share of income and gain of the Company for the Company’s taxable years (or portions thereof) prior
to such transfer or liquidation.

 

The
Partnership Representative shall not, without consent of the Managers and a Majority in Interest, do any or all of the following: (a)
engage attorneys, accountants, experts or other personnel; (b) send written correspondence to the IRS or file or authorizing filing on
the Company’s behalf with any court without prior notice of and a reasonable opportunity to review and comment upon any such document;
(c) make a Push-Out Election under § 6226 of the Code; (d) file an administrative adjustment request under § 6227 of the Code;
(e) enter into a settlement with the IRS; or (f) extend the statute of limitations with the IRS. The Partnership Representative must
also consult regularly with the Managers concerning audit and litigation strategy.

 

In
the event of death, disability, or resignation of Michael J. Reilly as Partnership Representative, William Darrah shall
serve as successor Partnership Representative. In the event of death, disability, or resignation of William Darrah as Partnership
Representative, a successor Partnership Representative shall be selected by the Managers.

 

    	 

    	 

    

 

ARTICLE
5

MANAGERS

 

5.1 General
Powers of Managers. The Members hereby delegate management of the business and affairs of the Company to the discretion of the Managers,
except as otherwise provided in this Agreement or the Act. The Company shall have two Managers, and the initial Managers shall be: (1)
Darrah Oil Company, LLC and (2) Grand Mesa Operating Company. Except as otherwise provided by this Agreement or the Act,
each Manager, acting alone, shall have full and complete authority, power and discretion to manage and control the ordinary affairs and
business of the Company, to make all decisions regarding those matters and to perform any and all other acts customary or incident to
the management of the Company’s business. Each Manager shall use reasonable efforts to carry out the business of the Company as
set forth herein.

 

The
Managers shall serve in such capacity until the earlier to occur of (i) such Person’s resignation in accordance of Section 5.6;
of (ii) such Person’s removal in accordance with Section 5.5.

 

5.2 Powers
Requiring Consent from Both Managers. The following actions and/or omissions shall require the consent of both Managers; provided,
however, that any expenditure reasonably anticipated to be less than twenty-five thousand dollars ($25,000) shall not require the
consent of both Managers. In the event the Managers cannot agree as to whether such action and/or omission should be taken, then the
matter shall be presented to the Members and may only be taken if approved by a Majority in Interest.

 

(a)
Appoint subordinate officers of the Company from time to time, and delegate any authority delegated to the Managers under the Agreement
to such officer;

 

(b)
Establish reserves to cover operating deficits, anticipated operating and capital expenditures, and other future needs of the Company,
and to expend the capital and revenues of the Company;

 

(c)
Cause the Company to borrow funds for the needs of the Company, including borrowing funds from Members, on such terms and conditions
as the Managers deem appropriate under the circumstances, and to mortgage, pledge, encumber or grant a security interest in any or all
of the Property of the Company in connection therewith;

 

(d)
Distribute available cash to Members;

 

    	 

    	 

    

 

(e)
Authorize additional Units and to issue authorized Units to raise capital through the sale Units to existing Members and/or new members,
and admit those new members;

 

(f)
Enter into any agreement or contract, and authorize any activity or omission related to the stated purpose of Company, including to sign
such further instruments incident to the ownership of any Property of Company, including farmin/farmout agreements, joint operating agreements,
crude oil and gas purchase or sale contracts, and to sign division and transfer orders, and any curative title instruments, including
declarations, affidavits, stipulations, cross-conveyances of interests;

 

(g)
Enter into contracts and other agreements to purchase, own and sell, in whole or in part, any working interest, overriding royalty, mineral
or royalty interest related to the Property;

 

(i)
Provide the Members with such information and documents as the Members may reasonably request, including, without limitation, such information
and documents as necessary or convenient to comply with any applicable law or any federal, state, or local governmental regulatory requirements;

 

(j)
From time to time, make themselves and cause their respective representatives to be available for consultation with the Members; and

 

(k)
Exercise Company rights of first refusal, options and preferential rights of first purchase, including as described herein.

 

For
the avoidance of doubt, the Managers shall be entitled to reimbursement of all of the expenses it incurs in managing the Property of
the Company, including the payment of taxes, recording fees, postage and courier fees, and any and all legal fees and costs associated
with owning or perfecting ownership of the Property of the Company, including the investigation of assets for acquisition, acquiring
and divesting assets, and with issuing Units, whether they are the initial Units authorized hereunder and Units authorized and issued
in the future.

 

5.3 Reporting
to Members. Upon the written request of any Member, the Managers shall: (i) provide such information and documents as the Members
may reasonably request, including, without limitation, such information and documents as necessary or convenient to comply with any applicable
law or any federal, state, or local governmental regulatory requirements, and (ii) make themselves and cause their respective representatives
to be available for consultation with the Members. Additionally, the Managers shall prepare and provide the following information and
reports to the Members periodically, and not less often than as described below:

 

(a)
Annual Business Plan in the form and containing the content as reasonably requested by the Members;

 

(b) Not
later than the last day of February, an annual report containing a balance sheet as of the end of the preceding Fiscal Year, statements
of income, Members’ equity, changes in financial position and cash flow; and

 

(c) As
soon as practicable after the end of each Fiscal Year, all necessary tax information for the preceding Fiscal Year.

 

    	 

    	 

    

 

5.4
Limitations on Power and Authority of Managers. In addition to the limitations set forth above, without the consent of the
Members holding a Super-Majority in Interest, the Managers shall not:

 

(a) Change
the business of the Company, as it is described in this Agreement;

 

(b) Engage
in transactions that could result in the termination or reorganization of the Company or a partial or total dissolution of all Members’
interests in the Company;

 

(c) Merge
or consolidate with another entity, or sell all or substantially all of the Property of the Company;

 

(d) Borrow
money on behalf of the Company outside the ordinary course of business, or grant any lien, mortgage or other encumbrance in the Assets
of the Company (except as described in Schedule 1); or

 

(e) Amend
this Operating Agreement.

 

5.5 Removal
of the Managers. A Manager may be removed from office only by a vote of a Super-Majority in Interest of the Members for self-dealing
or other willful misconduct.

 

5.6 Resignation.
A Manager may resign at any time by giving written notice to the Members. A Manager shall be deemed to have resigned if the Manager terminates
its legal existence, becomes insolvent, bankrupt or is placed in receivership. The resignation of the Manager shall take effect at 7:00
o’clock a.m. on the first day of the calendar month following the expiration of thirty (30) days after the giving of notice of
resignation by Manager or the Manager is deemed to have resigned, unless a successor Manager has been selected and assumes the duties
of Manager at an earlier time; and, unless otherwise specified therein, the acceptance of such resignation shall not be necessary to
make it effective. The resignation of a Manager who is also a Member shall not affect the Manager’s rights as a Member.

 

5.7 Successor
Manager. If a Manager is removed pursuant to Section 5.5, or resigns or is deemed to resign pursuant to Section 5.6, a successor
manager shall be appointed by the other Manager. If there is no other Manager, then the successor Manager shall be determined by a Majority
in Interest of Members.

 

5.8 Consent
to Joint Operating Agreement. The Members hereby authorize the Managers to enter into that certain Operating Agreement, Castelli
Acquisition (“JOA”), a copy of which is attached hereto as Exhibit A, and hereby ratify, approve and consent to the
JOA.

 

5.9  Insurance. The Managers shall cause the Company to obtain and maintain insurance coverage
in such amounts, with provisions for such deductible amounts and for such purposes as the Managers determine. Any changes (including
changes as to form and limits) to the Company’s insurance coverage (including by reason of a change in the Company’s risk
profile) shall be reviewed and agreed to in writing by the Managers.

 

    	 

    	 

    

 

ARTICLE
6

RIGHTS
AND OBLIGATIONS OF MEMBERS

 

6.1 Eligibility
Requirements of Members. Except as otherwise provided within this Agreement, no Person shall be admitted as a Member unless approved
by the Managers.

 

6.2 Names
and Addresses of Members. The names, addresses, and Percentage Interests of the Members are as reflected in Schedule 1, attached
hereto and made a part hereof, which Schedule shall be amended as of the effectiveness of any permitted transfer or subsequent issuance
or redemption of any Units.

 

6.3 No
Management by Members. The Members in their capacity as Members shall not take part in the management or control of the business,
nor transact any business for the Company, nor shall they have power to sign for or to bind the Company, unless otherwise expressly authorized
under the Agreement or by action of the Company.

 

6.4 Meetings
of Members. Meetings of the Members may be called at any time by the Managers.

 

6.5 Notice
of Meetings. At least ten (10) and no more than fifty (50) days prior to any annual or special meeting of Members, the Company shall
notify Members of the date, time and place of the meeting and, in the case of a special or substitute annual meeting, shall briefly describe
the purpose or purposes of the meeting. If a meeting is adjourned to a different date, time or place, notice thereof need not be given
if the new date, time or place is announced at the meeting before adjournment. If the adjournment is for more than thirty (30) days,
a notice of the adjourned meeting shall be given to each Member entitled to vote at the meeting. If mailed, such notice shall be deemed
to be effective when deposited in the United States mail with postage prepaid, correctly addressed to the Members’ addresses shown
in the Company’s current record of Members.

 

6.6
Quorum. Members owning a Super-Majority in Interest and represented in person or by proxy at a meeting of Members shall
constitute a quorum. Once the Percentage Interests of a Member are represented for any purpose at a meeting, such Percentage
Interests are deemed present for quorum purposes for the remainder of the meeting and any adjournment thereof, unless a new record
date is or must be set for the adjournment. In the absence of a quorum at the opening of any meeting of Members, such meeting may be
adjourned from time to time by a vote of Members holding a majority of the Percentage Interests represented at the meeting to
adjourn.

 

6.7
Members’ List. After a record date is fixed for a meeting, the Manager shall prepare an alphabetical list of the names of
all Members who are entitled to notice of the Members’ meeting. Such list shall show the address and Percentage Interests of
each Member. The Members’ list shall be made available for inspection by any Member beginning five (5) business days after
notice of the meeting is given for which the list was prepared and continuing through the meeting, at the Company’s principal
office. The Company shall make the Members’ list available at the meeting, and any Member or its agent or attorney is entitled
to inspect the list at any time during the meeting or any adjournment.

 

    	 

    	 

    

 

6.8
Voting of Members. Except with respect to actions for which a greater vote or approval is otherwise specifically required
elsewhere in this Agreement or the Act, action by the Members shall be made by action of a Majority in Interest of the Members
represented at the meeting. Voting on all matters shall be by voice vote or by a show of hands, unless the holders of one-tenth of
the Percentage Interests represented at the meeting shall demand a ballot vote on a particular matter. Each Member shall be entitled
to vote its Percentage Interest and may not bifurcate the vote of its Percentage Interest.

 

6.9
Action Without Meeting. Any action which the Members could take at a meeting may be taken without a meeting if one or more
written consents, setting forth the action taken, shall be signed, before or after such action, by Members holding in the aggregate
Percentage Interests at least equal to the vote required to approve the action. The consent shall be delivered to the Company for
inclusion in the minutes for filing with the Company’s records. Any action approved by written consent shall be deemed
effective following the issuance of written notice to the Members of the Company who or which have not signed the
consent.

 

6.10  Limited Liability. The Members shall not be required to make any contribution to the capital
of the Company except as otherwise provided in this Agreement, nor shall the Members be bound by, or liable for, any expense, liability
or obligation of the Company except to the extent of: (i) their Capital Contribution, (ii) their proportionate share of the undistributed
profits of the Company, and (iii) the amount of certain Distributions received from the Company as provided by the Act. The Members shall
be under no obligation to restore a deficit Capital Account upon the dissolution of the Company or the liquidation of any of their Units.

 

6.11  Voting Rights of a Member. A Member shall cease to have any power as a Member or any voting
rights or rights of approval hereunder upon bankruptcy, insolvency, dissolution, assignment for the benefit of creditors, death or legal
incompetence, or assignment or transfer by divorce decree, and the Member, its personal representative, guardian, conservator, assignee
or successor upon the occurrence of any such event shall have only the rights, powers and privileges of a transferee enumerated in Article
8, and shall be liable for all obligations of the Member under this Agreement. In no event, shall a personal representative guardian,
conservator, assignee or successor become a substitute Member unless the requirements of Article 8 are satisfied.

 

6.12  Books and Records. The Company shall keep adequate books and records at its place of business,
setting forth a true and accurate account of all business transactions arising out of and in connection with the conduct of the Company.
Any Member or its designated representative shall have the right, at any reasonable time and at such Member’s own expense to have
access to and inspect and copy the contents of such books or records. Provided, no Member shall have any rights under this provision
when it is in default or breach of this Agreement.

 

    	 

    	 

    

 

6.13  Informational Rights of a Member. Upon request, the Manager shall supply to the Member
any information requested regarding the Company or its activities at the cost and expense of the requesting Member. At a time during
ordinary business hours mutually agreed upon by the Managers and Member, a Member and its authorized agents and representatives shall
have reasonable access to all records of the Company, including, but not limited to agreements, contracts, leases, records of operations
conducted, area maps, insurance policies and other materials in the Company’s offices regarding the Company or its activities and,
at the sole risk of the Member, to the drill site of each Company well. Provided, no Member shall have any rights under this provision
when it is in default or breach of this Agreement.

 

6.14  Other Business and Activities; Conflicts of Interest. Each Member and that Member’s
Affiliates may engage, invest in or possess an interest in other business ventures, investments, or transactions of any kind, nature
or description, independently or with others, notwithstanding that such ventures, investments or transactions are directly or indirectly
competitive with the Company. The fact that a Member or any Affiliate of such Member may take advantage of any such business opportunities,
either alone or with other Persons, including organizations in which the Member or its Affiliates has an interest, and not offer such
opportunities to the Company or to the other Members, shall not subject such Member or its Affiliates to liability to the Company or
to the other Members on account of any lost opportunity. Neither the Company nor any Member shall have any right by virtue of this Agreement,
or the relationships created hereby, in or to such other ventures, investments, transactions or opportunities, or to the income or profits
derived therefrom; and the pursuit of such other ventures, investments, transactions or opportunities, even though competitive with the
business of the Company, shall not be deemed wrongful or improper or in violation of this Agreement or any rights of the Company or the
Members under the Act or other applicable law.

 

6.15 Public
Announcements. Unless provided otherwise in this Agreement, the Members shall NOT issue any press release or otherwise make
any public statement with respect to this Company or its activities without the prior written approval of the Managers or other Members.
Any such press release or public statement required by applicable law or by obligations pursuant to any listing agreement with any national
securities exchange shall only be made after reasonable notice to the other party.

 

ARTICLE
7

INDEMINIFICATION

 

7.1 Limitation
on Liability. Except in the case of fraud, breach of fiduciary duty, bad faith, willful breach of this Agreement, or other willful
misconduct, a Member or Manager shall not be liable for damages or otherwise to the Company or to any Member or Manager by reason of
any act or omission of such Member or Manager reasonably believed to be exercised, or not exercised, within the scope of authority granted
to such Member or Manager by this Agreement and in the interest of the Company.

 

    	 

    	 

    

 

 

7.2. Company
Indemnification. The Company shall indemnify each Member or Manager (“Indemnitee”) from and against any liability, judgment,
fine, settlement amount, cost, expense (including attorneys’ fees incurred in defense of any claim) or other amount asserted, awarded,
threatened against, or incurred by such Indemnitee as a result of any act or omission of such Indemnitee within the scope of the authority
granted to such Indemnitee pursuant to this Agreement. Notwithstanding the foregoing, the Company shall not indemnify any Indemnitee
for liability arising as a result of such Indemnitee’s fraud, breach of fiduciary duty, bad faith, willful breach of this Agreement,
or other willful misconduct.

 

7.3 Member
Indemnification. Subject to Section 6.10, each Member shall indemnify and hold the Company, the Managers and the other Members harmless
from and against any liability, judgment, fine, settlement amount, cost, expense (including attorneys’ fees incurred in defense
of any claim) or other amount asserted, awarded, threatened against, or incurred by the Company, the Managers or other Member as a result
of any act of such Members outside the scope of the authority granted to such Member pursuant to this Agreement or otherwise unauthorized.

 

ARTICLE
8

TRANSFER
OF INTERESTS AND ADMISSION OF MEMBERS

 

8.1 Conditions
Precedent to Transfers. Any purported Transfer or Encumbrance will be ineffective until the Transferor and his or her Transferee
furnish to the Company the instruments and assurances the Managers may request, including without limitation, if requested, an opinion
of counsel satisfactory to the Company that the interest in the Company being Transferred or Encumbered has been registered or is exempt
from registration under the Securities Act, and applicable state securities laws. Further, the terms of the option to purchase set forth
in Section 8.4 shall be complied with before any Transfer is effective.

 

8.2
Substituted Members. No Transferee of a Unit or Membership Interest shall be admitted as a substitute Member of the Company
unless, in addition to compliance with the conditions set forth in Sections 8.1, all of the following conditions are
satisfied:

 

(a) The
Transferee has executed and delivered all documents deemed appropriate by the Managers to reflect the assignee’s admission to the
Company and its agreement to be bound by this Agreement;

 

(b) The
Managers have consented in writing to admission of the Transferee as a Substituted Member; and

 

(c) If
requested by the Managers, payment has been made to the Company of all costs and expenses of admitting any such Transferee or assignee
as a substituted Member.

 

8.3
Rights of Transferee. Unless admitted to the Company in accordance with Section 8.2, the Transferee shall not be entitled to any
of the rights, powers or privileges of its predecessor in interest, except that it shall be entitled to receive and be credited or
debited with its proportionate share of Profits, Losses, Gains from Capital Transactions, Sales Proceeds, Refinancing Proceeds and
Distributions in liquidation (as adjusted for the Capital Account).

 

    	 

    	 

    

 

8.4 Right
of First Refusal. Before any Member may Transfer by sale any Unit to any Person:

 

(a) Right
of First Refusal. The Units must first be offered for sale according to the procedure described below by Notice. Such Notice must
specify the number of Units proposed to be Transferred, the price and terms at which the Transferring Member has agreed, subject to this
Article 8, to Transfer, the name, address, and principal occupation of the proposed Transferee, the date of the proposed Transfer, and
the present cash value of the entire consideration included in the offer by the offering party and/or the seller (including any consideration
for assets included other that the Units, and all assumptions used in deriving said present value), together with true and correct copies
of the written offer and all documents related to the offer to purchase the Units.

 

(b) Right
of Company to Buy. At any time within 14 days after delivery of the Notice the Company may purchase any or all of the Units proposed
to be Transferred upon the terms and price stated in the Notice. In the event the terms of the proposed Transfer contemplate an installment
purchase, the Company may elect to either pay an agreed upon present cash value of the installment obligation in cash at closing, or
may elect to match the terms of said proposed installment purchase obligation.

 

(c) Right
of Members to Buy. If the Company does not elect to purchase the Units proposed to be Transferred within 14 days after the delivery
of the Notice, then the Members, or any of them, may purchase any or all of the Units proposed to be Transferred upon the terms and price
stated in the Notice at any time within 14 days after the expiration of the Company’s 30 day time period to purchase. In the event
the terms of the proposed Transfer contemplate an installment purchase, the Company may elect to either pay an agreed upon present cash
value of the installment obligation in cash at closing, or may elect to match the terms of said proposed installment purchase obligation.
The Managers shall be permitted to participate in the purchase with the consent of the purchasing Members.

 

(d) Right
to Offer to Third Party. If the Company and Members fail to purchase all of said Units in the time and manner aforesaid, such Units
not purchased may then be Transferred to the proposed Transferee only on the same terms and conditions as described in the Notice, provided
the Transferee satisfies the requirements of this Article 8.

 

(e) Failure
to Consummate Sale. If a Transfer is not effected within 15 days following the expiration of the 14 day option periods set out above,
no such Units may be Transferred to any party at any price without again complying with the aforesaid procedure, if applicable, in the
same manner as if such Units had never before been offered for purchase as described above.

 

(f) Closing.
If the Company or Members exercise their option hereunder to purchase said Units proposed to be Transferred for the price provided in
the Notice, the transaction shall close within thirty (30) days after the expiration of the option periods described in Sections 8.4(b)
and (c), whichever is applicable. At closing, the selling Member will assign the Units, and the purchaser(s) shall pay the purchase price.

 

    	 

    	 

    

 

8.5 Estate
Planning Transfers. A Member who is an individual may assign such Member’s Interest to such Member (or to such Member and one
or more other persons) as trustee of a revocable trust created by such Member for purposes of estate planning without any consent of
the Manager. During the period that such Member remains a trustee of such trust, such Member shall continue to have the right to vote
with respect to the Interest so assigned into trust. The right to vote in the affairs of the Company, however, shall not inure to any
successor trustee or co-trustee of the trust other than the Member unless approved by the Manager. Such transfers shall not be subject
to Section 8.4.

 

8.6 Restrictions
on Transfer. No transfer of any Member’s Interest in the Company shall be made if the transfer: (a) would violate applicable
federal or state securities laws or rules, including regulations of the Securities and Exchange Commission, any state securities commission,
or any other governmental authority with jurisdiction over the transfer; or (b) would affect the Company’s qualification as a limited
liability company under the laws under which the Company is formed or operates.

 

8.7 Resignation
of a Member. No Member shall have the right to resign from the Company at any time without the unanimous affirmative vote of the
other Members.

 

ARTICLE
9

DISSOLUTION
AND TERMINATION

 

9.1 Events
Causing Dissolution. The Company shall be dissolved upon the first to occur of the following events:

 

(a) The
agreement in writing to dissolve by a Super Majority in Interest of the Members and the Managers; or

 

(b) Any
other event causing a dissolution of the Company under the provisions of the Act; provided that the death, retirement, bankruptcy or
dissolution of a Member or the occurrence of any other event that terminates the continued membership of a Member shall not cause the
Company to be dissolved or its affairs to be wound up.

 

9.2 Winding
Up. Upon an event giving rise to dissolution as provided in Section 9.1, the Company shall cease to carry on its business, except
insofar as may be necessary for the winding up of its business and affairs. The Managers (or a person designated by the Managers) shall
proceed to collect the Company’s Property and assets; discharge the Company’s liabilities (or make adequate provision for
discharge thereof); and do all other acts required to liquidate the Property and other Company assets, and wind up the business and affairs
of the Company. The Managers shall determine whether the Property and other Company assets are to be sold or whether the Property and
other Company assets are to be distributed to the Members in kind. If any Property or other Company assets are distributed to the Members,
a hypothetical gain or loss on the assets shall be computed. All such Property and assets to be distributed shall be valued at their
then fair market value as determined by the Managers and the difference, if any, of the fair market value over (or under) the adjusted
bases of such property to the Company shall be credited (or charged) to the capital accounts of the Members in accordance with their
Percentage Interests in the Company.

 

    	 

    	 

    

 

9.3 Profits
or Losses in Winding Up. The Members shall continue to share profits and losses during the winding up in the same proportion as before
liquidation.

 

9.4 Distributions
at Liquidation. Subject to the right to set up such cash reserve as may be deemed reasonably necessary for any contingent or unforeseen
liabilities or obligations of the Company, the proceeds of liquidation and any remaining assets of the Company shall be distributed in
the following order of preference:

 

(a) To
creditors of the Company, in order of priority as provided by law, including any loans or advances by any of the Members to the extent
permitted under the Act;

 

(b) To
the extent such payment and discharge is not permitted under the Act to be made pursuant to Section 9.4(a), to the repayment of loans
or advances by any of the Members, but if the amount available for such repayment is insufficient, then pro rata on account of such loans
or advances;

 

(c) To
the Members, ratably, in accordance with the positive capital account balances of the Members, after giving effect to all contributions,
distributions and allocations for all periods; and

 

(d) The
balance, if any, to the Members in accordance with their respective Percentage Interests.

 

9.5 Deficit
Capital Accounts. In the event the Company is liquidated within the meaning of Regulations ‘ 1.704-1(b)(2)(ii)(g), if any Member’s
Capital Account has a deficit balance (after giving effect to all contributions, distributions, and allocations for all fiscal years,
including the fiscal year during which such liquidation occurs), such Member shall have no obligation to make any contribution to the
capital of the Company with respect to such deficit balance, and such deficit shall not be considered a debt owed the Company or any
other person for any purpose whatsoever.

 

9.6 Liquidation
Statement. Each Member shall be provided with a statement prepared by the Managers (or person designated by them to cause the liquidation
and winding up of the Company), which shall set forth an accounting of the liquidation and distribution of assets of the Company. Upon
compliance with this Section 9.6, the Managers (or person designated by the Managers to cause the liquidation and winding up of the Company)
shall execute, acknowledge and cause to be filed a certificate of cancellation with the Kansas Secretary of State.

 

    	 

    	 

    

 

ARTICLE
10

MISCELLANEOUS
PROVISIONS

 

10.1 Notices.
Unless a Member approves another medium of communication (e.g., email), any notice, demand, request, call, offer or other communication
required or permitted to be given by this Agreement or by the Act shall be sufficient if in writing and if hand delivered or sent by
generally recognized overnight courier to the Members of record of the Company at the address set forth in any Schedule hereto. All communications
delivered physically or by overnight courier shall be deemed to be given when received. All communications delivered electronically shall
be deemed to be given when sent. Any costs and fees associated with delivery by generally recognized overnight courier shall be borne
by and charged to the receiving Member.

 

10.2 Confidentiality.
Members shall at all times treat the books, records, agreements, reports, plans, opinions, schedules, financial information, knowledge,
know-how, techniques, trade secrets, and methods of operation of the Company or any other information which otherwise comes to the attention
of or within the knowledge or control of a Member (“Confidential Information”) as confidential and shall maintain such information
as secret and confidential. Except as required to comply with any law or governmental regulation, no Member shall at any time copy, duplicate,
record or otherwise reproduce the Confidential Information in part, or otherwise for the purposes of disclosing or making the same available
to any unauthorized person, or use the Confidential Information for any unauthorized purpose. Notwithstanding the foregoing, any Member
may disclose any Confidential Information to any of its representative provided such representative is aware of the provisions of this
Agreement. Any failure to comply with the requirements of this Section 10.2 shall constitute a breach of this Agreement. It is understood,
that such breach may cause the Company irreparable injury; money damages may not adequately compensate for such injury; and the Company
may be intitled to seek specific performance of, or an injunction against a violation of the requirements of this Agreement, in addition
to any other available remedies, without the necessity of posting bond. Any Member who violates any provision of this Section 10.2 agrees
to pay all court costs and reasonable attorney’s fees incurred by the Company in enforcing its rights hereunder.

 

10.3 Governing
Law. This Agreement and the obligations of the Members hereunder shall be interpreted, construed and enforced in accordance with
the laws of the State of Kansas.

 

10.4 Counterparts.
This Agreement may be executed in any number of counterparts, each of which is identical, all of which shall be deemed to be an original,
and all of which shall be construed together as a single agreement. Notwithstanding the execution of this Agreement, this Agreement shall
not be effective with respect to or binding upon any party hereto until all of the parties to this Agreement have executed at least one
counterpart of this Agreement. Signatures delivered by electronic transmission or in electronic formats, including electronic images,
shall be enforceable the same as original signatures.

 

10.5 Severability.
If any provision of this Agreement or the application thereof to any person or circumstance shall be invalid or unenforceable to any
extent or shall be construed such that the Company is taxed as a corporation instead of a partnership for federal income tax purposes,
then such provisions shall be deemed severable and the remainder of this Agreement and the application of such provision to other persons
or circumstances shall not be affected thereby and shall be enforced to the greatest extent permitted by law.

 

10.6 Binding
Agreement. Subject to the restrictions on transfers and encumbrances set forth herein, this Agreement shall inure to the benefit
of and be binding upon the Members and their respective successors and assigns. This Agreement may only be amended in a writing signed
by all the Members.

 

10.7 Amendments.
No amendment to this Agreement shall be effective unless approved by a Super-Majority in Interest of the Members and by the Managers.

 

10.8 Headings.
The section headings of this Agreement are included solely for convenience and shall in no event affect or be used in connection with
the interpretation of this Agreement.

 

10.9 Entire
Agreement. This Agreement shall constitute the entire contract between the parties, and there are no other or further agreements
outstanding not specifically mentioned herein.

 

10.10 Venue.
The Members agree that the State District Court of Sedgwick County, Kansas shall have exclusive jurisdiction of any dispute arising out
of or under this Agreement; that venue is proper in such court in Sedgwick County, Kansas.

 

SIGNATURE
PAGES TO FOLLOW

 

    	 

    	 

    

 

IN
WITNESS WHEREOF, the undersigned Persons have entered into this Agreement effective as of the Effective Time.

 

	Company:	 
	 	 
	GMDOC, LLC	 
	 	 
	By its Manager DARRAH OIL	 
	COMPANY, LLC	 
	 	 
	By:	 	 
	 	William Darrah, Manager	 
	 	 
	By its Manager GRAND MESA	 
	OPERATING COMPANY	 
	 	 
	By:	 	 
	 	Michael J. Reilly, President	 
	 	 
	Members:	 
	 	 
	SAAZ, LLC	 
	 	 
	By:	 	 
	 		 
	 	 
	ROBERT GUTRU, LP	 
	 	 
	By:	 	 
	 		 

 

American
Noble Gas, Inc.

 

	By:	 	 
	 	Name, TitleEX-10.1

 Exhibit 10.1 
  

 
  

SENIOR SECURED, PRIMING AND SUPERPRIORITY 

DEBTOR-IN-POSSESSION CREDIT AGREEMENT 

dated as of 
 May 19, 2022,

 among 
 PARETEUM
CORPORATION 
 and its Subsidiaries party hereto, 

as debtors and debtors-in-possession, 

as Borrowers, 
 CIRCLES MVNE
PTE. LTD. 
 and each party that becomes a lender hereto, 

as Lenders, 
 and 

CIRCLES MVNE PTE. LTD., 
 as
Administrative Agent. 
  
  

 
  

					
	 ARTICLE I
  

DEFINITIONS

							
	SECTION 1.01.	 	 Defined Terms
	  	 	1	 
	SECTION 1.02.	 	 Terms Generally
	  	 	20	 
	SECTION 1.03.	 	 Accounting Terms; GAAP
	  	 	21	 

 ARTICLE II 

THE COMMITMENTS 
  

							
	SECTION 2.01.	 	 NM Term Loans; Roll-Up Loans
	  	 	22	 
	SECTION 2.02.	 	 [RESERVED.]
	  	 	22	 
	SECTION 2.03.	 	 Requests for Borrowings
	  	 	22	 
	SECTION 2.04.	 	 Extension of Stated Maturity Date
	  	 	23	 
	SECTION 2.05.	 	 Funding of Borrowings
	  	 	23	 
	SECTION 2.06.	 	 Termination and Reduction of Commitments
	  	 	24	 
	SECTION 2.07.	 	 Repayment of Loans; Evidence of Debt
	  	 	24	 
	SECTION 2.08.	 	 Prepayment of Loans
	  	 	25	 
	SECTION 2.09.	 	 Interest
	  	 	25	 
	SECTION 2.10.	 	 Fees
	  	 	26	 
	SECTION 2.11.	 	 [RESERVED]
	  	 	26	 
	SECTION 2.12.	 	 Taxes
	  	 	26	 
	SECTION 2.13.	 	 Payments Generally; Allocation of Proceeds; Sharing of
Set-offs
	  	 	30	 
	SECTION 2.14.	 	 Mitigation Obligations; Replacement of Lenders
	  	 	32	 
	SECTION 2.15.	 	 Defaulting Lenders
	  	 	33	 
	SECTION 2.16.	 	 Returned Payments
	  	 	33	 
	SECTION 2.17.	 	 Security and Priorities
	  	 	33	 

 ARTICLE III 

REPRESENTATIONS AND WARRANTIES 
  

							
	SECTION 3.01.	 	 Organization; Powers
	  	 	34	 
	SECTION 3.02.	 	 Authorization; Enforceable Obligations
	  	 	35	 
	SECTION 3.03.	 	 Financial Statements
	  	 	35	 
	SECTION 3.04.	 	 Title to Properties; Intellectual Property
	  	 	35	 
	SECTION 3.05.	 	 Litigation
	  	 	36	 
	SECTION 3.06.	 	 Labor Matters
	  	 	36	 
	SECTION 3.07.	 	 Compliance with ERISA
	  	 	36	 

  
 -i- 

 TABLE OF CONTENTS 

(continued) 
  

							
	 	 	 	  	Page	 
	SECTION 3.08.	 	 Federal Reserve Regulations; Use of Proceeds
	  	 	36	 
	SECTION 3.09.	 	 Approval
	  	 	37	 
	SECTION 3.10.	 	 Subsidiaries
	  	 	37	 
	SECTION 3.11.	 	 Investment Company Act
	  	 	37	 
	SECTION 3.12.	 	 Collateral Documents; Liens
	  	 	37	 
	SECTION 3.13.	 	 No Default
	  	 	37	 
	SECTION 3.14.	 	 Permits and Licenses
	  	 	37	 
	SECTION 3.15.	 	 Compliance with Law
	  	 	37	 
	SECTION 3.16.	 	 Full Disclosure
	  	 	37	 
	SECTION 3.17.	 	 Insurance
	  	 	38	 
	SECTION 3.18.	 	 Anti-Corruption Laws, Anti-Money Laundering Laws and Sanctions
	  	 	38	 
	SECTION 3.19.	 	 Reorganization Matters
	  	 	38	 
	
	ARTICLE IV	  

	
	CONDITIONS	  

			
	SECTION 4.01.	 	 Closing Date
	  	 	39	 
	SECTION 4.02.	 	 Each Credit Event
	  	 	40	 
	
	ARTICLE V	  

	
	AFFIRMATIVE COVENANTS	  

			
	SECTION 5.01.	 	 Existence; Properties; Insurance
	  	 	42	 
	SECTION 5.02.	 	 Payment of Obligations and Taxes
	  	 	42	 
	SECTION 5.03.	 	 Financial Statements; Other Information
	  	 	42	 
	SECTION 5.04.	 	 Books and Records; Access to Premises
	  	 	44	 
	SECTION 5.05.	 	 Notices of Material Events
	  	 	44	 
	SECTION 5.06.	 	 Compliance with Applicable Laws
	  	 	44	 
	SECTION 5.07.	 	 Use of Proceeds
	  	 	44	 
	SECTION 5.08.	 	 Guarantors; Collateral; Further Assurances
	  	 	45	 
	SECTION 5.09.	 	 Section 363 Sales
	  	 	46	 
	SECTION 5.10.	 	 Post-Closing Actions
	  	 	46	 
	SECTION 5.11.	 	 Financial Advisor
	  	 	47	 
	SECTION 5.12.	 	 Lender and Advisor Calls
	  	 	47	 
	SECTION 5.13.	 	 Case Milestones
	  	 	47	 
	SECTION 5.14.	 	 Certain Other Bankruptcy Matters
	  	 	48	 

  
 -ii- 

 TABLE OF CONTENTS 

(continued) 
  

							
	 	 	 	  	Page	 
	
	ARTICLE VI	  

	
	NEGATIVE COVENANTS	  

			
	SECTION 6.01.	 	 Liens
	  	 	48	 
	SECTION 6.02.	 	 Financial Covenants; Budget Compliance Covenants
	  	 	49	 
	SECTION 6.03.	 	 Indebtedness
	  	 	50	 
	SECTION 6.04.	 	 Sale of Assets
	  	 	51	 
	SECTION 6.05.	 	 Loans; Investments and Acquisitions
	  	 	51	 
	SECTION 6.06.	 	 Nature of Business
	  	 	51	 
	SECTION 6.07.	 	 Federal Reserve Regulations
	  	 	51	 
	SECTION 6.08.	 	 Limitations on Fundamental Changes
	  	 	51	 
	SECTION 6.09.	 	 Existing Indebtedness
	  	 	52	 
	SECTION 6.10.	 	 Restricted Payments
	  	 	52	 
	SECTION 6.11.	 	 Transactions with Affiliates
	  	 	52	 
	SECTION 6.12.	 	 Governmental Regulation
	  	 	52	 
	SECTION 6.13.	 	 Restrictive Agreements
	  	 	52	 
	SECTION 6.14.	 	 Deposit and Securities Accounts
	  	 	53	 
	SECTION 6.15.	 	 Reclamation Claims
	  	 	53	 
	SECTION 6.16.	 	 Chapter 11 Claims
	  	 	53	 
	SECTION 6.17.	 	 Additional Bankruptcy Matters
	  	 	53	 
	SECTION 6.18.	 	 Other Superpriority Claims
	  	 	53	 
	
	ARTICLE VII	  

	
	EVENTS OF DEFAULT	  

			
	SECTION 7.01.	 	 Events of Default
	  	 	54	 
	
	ARTICLE VIII	  

	
	THE ADMINISTRATIVE AGENT	  

			
	SECTION 8.01.	 	 Appointment
	  	 	57	 
	SECTION 8.02.	 	 Rights as a Lender
	  	 	57	 
	SECTION 8.03.	 	 Duties and Obligations
	  	 	58	 
	SECTION 8.04.	 	 Reliance
	  	 	58	 
	SECTION 8.05.	 	 Actions through Sub-Agents
	  	 	58	 
	SECTION 8.06.	 	 Resignation
	  	 	59	 
	SECTION 8.07.	 	 Non-Reliance
	  	 	60	 
	SECTION 8.08.	 	 Other Agency Titles
	  	 	60	 
	SECTION 8.09.	 	 Not Partners or Co-Venturers; Administrative Agent as
Representative of the Secured Parties
	  	 	60	 
	SECTION 8.10.	 	 No Other Duties, Etc.
	  	 	61	 

  
 -iii- 

 TABLE OF CONTENTS 

(continued) 
  

							
	 	 	 	  	Page	 
	
	ARTICLE IX	  

	
	MISCELLANEOUS	  

			
	SECTION 9.01.	 	 Notices
	  	 	61	 
	SECTION 9.02.	 	 Waivers; Amendments
	  	 	63	 
	SECTION 9.03.	 	 Expenses; Indemnity; Damage Waiver
	  	 	65	 
	SECTION 9.04.	 	 Successors and Assigns
	  	 	66	 
	SECTION 9.05.	 	 Survival
	  	 	68	 
	SECTION 9.06.	 	 Counterparts; Integration; Effectiveness; Electronic Execution
	  	 	69	 
	SECTION 9.07.	 	 Severability
	  	 	69	 
	SECTION 9.08.	 	 Right of Setoff
	  	 	69	 
	SECTION 9.09.	 	 Governing Law; Jurisdiction; Consent to Service of Process
	  	 	70	 
	SECTION 9.10.	 	 WAIVER OF JURY TRIAL
	  	 	70	 
	SECTION 9.11.	 	 Headings
	  	 	70	 
	SECTION 9.12.	 	 Confidentiality
	  	 	70	 
	SECTION 9.13.	 	 Several Obligations; Nonreliance; Violation of Law
	  	 	71	 
	SECTION 9.14.	 	 USA PATRIOT Act
	  	 	71	 
	SECTION 9.15.	 	 Disclosure
	  	 	72	 
	SECTION 9.16.	 	 Appointment for Perfection
	  	 	72	 
	SECTION 9.17.	 	 Interest Rate Limitation
	  	 	72	 
	SECTION 9.18.	 	 No Advisory or Fiduciary Responsibility
	  	 	72	 
	SECTION 9.19.	 	 Marketing Consent
	  	 	72	 
	SECTION 9.20.	 	 Joint and Several Liability; Borrower Representative
	  	 	73	 
	SECTION 9.21.	 	 Credit Bid
	  	 	75	 
	
	ARTICLE X	  

	
	LOAN GUARANTY	  

			
	SECTION 10.01.	 	 Loan Guaranty
	  	 	75	 
	SECTION 10.02.	 	 Guaranty of Payment
	  	 	75	 
	SECTION 10.03.	 	 No Discharge or Diminishment of Loan Guaranty.
	  	 	76	 
	SECTION 10.04.	 	 Defenses Waived
	  	 	76	 
	SECTION 10.05.	 	 Rights of Subrogation
	  	 	77	 

  
 -iv- 

 TABLE OF CONTENTS 

(continued) 
  

							
	 	 	 	  	Page	 
	SECTION 10.06.	 	 Reinstatement; Stay of Acceleration
	  	 	77	 
	SECTION 10.07.	 	 Information
	  	 	77	 
	SECTION 10.08.	 	 Termination
	  	 	77	 
	SECTION 10.09.	 	 Taxes
	  	 	77	 
	SECTION 10.10.	 	 Maximum Liability
	  	 	78	 
	SECTION 10.11.	 	 Contribution
	  	 	78	 
	SECTION 10.12.	 	 Liability Cumulative
	  	 	79	 
	
	ARTICLE IX	  

	
	SECURITY AND ADMINISTRATIVE PRIORITY	  

			
	SECTION 11.01.	 	 Pre-Petition Obligations
	  	 	79	 
	SECTION 11.02.	 	 Acknowledgement of Security Interests
	  	 	79	 
	SECTION 11.03.	 	 Binding Effect of Documents
	  	 	79	 
	SECTION 11.04.	 	 Collateral; Grant of Lien and Security Interest
	  	 	79	 
	SECTION 11.05.	 	 Administrative Priority
	  	 	80	 
	SECTION 11.06.	 	 Grants, Rights and Remedies
	  	 	80	 
	SECTION 11.07.	 	 No Filings Required
	  	 	80	 
	SECTION 11.08.	 	 Survival
	  	 	80	 

  
 -v- 

					
	SCHEDULES:	 		  	
			
	Schedule 2.01	 	–	  	NM Commitments and Roll-Up Commitments
	Schedule 3.04	 	–	  	Intellectual Property
	Schedule 3.05	 	–	  	Litigation
	Schedule 3.10	 	–	  	Subsidiaries
	Schedule 3.17	 	–	  	Insurance
	Schedule 6.01	 	–	  	Prepetition Liens
	Schedule 6.02	 	–	  	Prepetition Indebtedness
	Schedule 6.04	 	–	  	Prepetition Investments
	Schedule 6.13	 	–	  	Prepetition Restrictive Agreements

  

					
	EXHIBITS:	 		  	
			
	Exhibit A	 	–	  	Form of Assignment and Assumption
	Exhibit B-1	 	–	  	U.S. Tax Compliance Certificate (Foreign Lenders That Are Not Partnerships)
	Exhibit B-2	 	–	  	U.S. Tax Compliance Certificate (Foreign Participants That Are Not Partnerships)
	Exhibit B-3	 	–	  	U.S. Tax Compliance Certificate (Foreign Participants That Are Partnerships)
	Exhibit B-4	 	–	  	U.S. Tax Compliance Certificate (Foreign Lenders That Are Partnerships)
	Exhibit C	 	–	  	Form of Compliance Certificate
	Exhibit D	 	–	  	Form of Joinder Agreement
	Exhibit E	 	–	  	Form of Borrowing Request
	Exhibit F	 	–	  	Form of Note
	Exhibit G	 	–	  	Form of Interim Order

 SENIOR SECURED, PRIMING AND SUPERPRIORITY DEBTOR-IN-POSSESSION CREDIT AGREEMENT dated as of May 19, 2022 (as it may be amended or modified from time to time, this “Agreement”), among PARETEUM CORPORATION (the
“Company”), each of the Subsidiaries of the Company party hereto (together with the Company, jointly and severally, each a “Borrower”), CIRCLES MVNE PTE. LTD., as lender (in such capacity, the
“Lender”, and each person who becomes a lender party hereto after the date hereof, each a “Lender”) and CIRCLES MVNE PTE. LTD., as administrative agent for the Lenders (in such capacity, the “Administrative
Agent”). Capitalized terms used and not otherwise defined herein have the respective meanings provided in Article I. 

RECITALS 
 WHEREAS, on
May 15, 2022 (the “Petition Date”), the Borrowers commenced chapter 11 case numbers 22-10615 through 22-10623, as administratively consolidated at
chapter 11 case number 22-10615 (each a “Chapter 11 Case” and collectively, the “Chapter 11 Cases”), by filing separate voluntary petitions for relief under chapter 11 of the
Bankruptcy Code (as defined below) with the United States Bankruptcy Court for the Southern District of New York (the “Bankruptcy Court”); 

WHEREAS, prior to the Petition Date, the Company, as issuer, issued the Prepetition Bridge Notes to the Lender, and certain of the other
Borrowers, as guarantors, have guaranteed the Prepetition Bridge Notes; 
 WHEREAS, prior to the Petition Date, the Company, as issuer,
issued the Prepetition First Lien Notes to the Prepetition First Lien Holders, and certain of the other Borrowers, as guarantors, have guaranteed the Prepetition First Lien Notes; 

WHEREAS, prior to the Petition Date, the Company, as issuer, issued the Prepetition Second Lien Notes to the Prepetition Second Lien Holders,
and certain of the other Borrowers, as guarantors, have guaranteed the Prepetition Second Lien Notes; 
 WHEREAS, the Borrowers continue to
operate their businesses and manage their properties as debtors and debtors in possession pursuant to sections 1107(a) and 1108 of the Bankruptcy Code; and 

WHEREAS, the Borrowers have requested that the Lenders provide a senior secured, priming superpriority debtor-in-possession term loan facility to the Borrowers, in an aggregate principal amount of $33,720,930 consisting of (a) new money term loans in the aggregate principal amount of $6,000,000 and (b) Roll-Up Loans in the aggregate principal amount of $27,720,930, in each case, for the purposes set forth in Section 5.07; 

NOW, THEREFORE, in consideration of the premises and the mutual covenants contained herein, the parties hereto hereby agree as follows: 

ARTICLE I 
 Definitions 

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

“Acceptable Plan of Reorganization” means a plan of reorganization for each of the Chapter 11 Cases that (a) provides for
the termination of the unused NM Commitments and the payment in full in cash and full discharge of any outstanding Obligations at emergence, (b) contains releases and other exculpatory provisions for the Administrative Agent and the Lenders in
form and substance reasonably satisfactory to the Administrative Agent and the Lenders, and (c) is otherwise in form and substance reasonably satisfactory to the Administrative Agent and the Lenders. 

 “Actual Collections” has the meaning set forth in Section 6.02(b).

 “Actual Disbursements” has the meaning set forth in Section 6.02(c). 

“Administrative Agent” has the meaning assigned to such term in the Preamble. 

“Administrative Questionnaire” means an Administrative Questionnaire in a form supplied by the Administrative Agent. 

“Affected Foreign Subsidiary” means any Foreign Subsidiary to the extent that the pledge of
662⁄3% or more of such Foreign Subsidiary’s Equity Interests as Collateral to secure the Secured Obligations could reasonably be expected to result in material
adverse tax consequences to the Borrowers or any Domestic Subsidiary. For purposes of the definition of Affected Foreign Subsidiary, a Foreign Subsidiary shall include any Domestic Subsidiary substantially all of the assets of which consist of
Equity Interests in one or more Foreign Subsidiaries that are “controlled foreign corporations” within the meaning of Section 957 of the Code, so long as such Domestic Subsidiary (i) does not conduct any business or activities
other than the ownership of such Equity Interests and (ii) does not incur, and is not otherwise liable for, any Indebtedness or other liabilities. 

“Affiliate” means, with respect to a specified Person, another Person that directly, or indirectly through one or more
intermediaries, Controls or is Controlled by or is under common Control with the specified Person. 
 “Agent Party” has the
meaning assigned to such term in Section 9.01(d). 
 “Aggregate Credit Exposure” means, at any
time, the aggregate Credit Exposure of all the Lenders at such time. 
 “Agreement” is defined in the recitals hereof. 

“Anti-Corruption Laws” means all laws, rules, and regulations of any jurisdiction applicable to the Borrowers or their
Subsidiaries from time to time concerning or relating to bribery or corruption including, without limitation, the United States Foreign Corrupt Practices Act of 1977, as amended, and the rules and regulations thereunder. 

“Anti-Money Laundering Laws” means any and all laws, statutes, regulations or obligatory government orders, decrees,
ordinances or rules applicable to a Credit Party, its Subsidiaries or Affiliates related to terrorism financing or money laundering, including any applicable provision of the USA PATRIOT Act and The Currency and Foreign Transactions Reporting Act
(also known as the “Bank Secrecy Act,” 31 U.S.C. §§ 5311-5330 and 12 U.S.C. §§ 1818(s), 1820(b) and 1951-1959). 

“Applicable Percentage” means, at any time with respect to any Lender, (a) with respect to Loans requested or made
pursuant to Section 2.01(a), a percentage equal to a fraction the numerator of which is such Lender’s NM Commitment at such time and the denominator of which is the aggregate NM Commitments at such time (provided that,
if the NM Commitments have terminated or expired, the Applicable Percentages shall be determined based upon such Lender’s share of the Aggregate Credit Exposure at such time); provided that, in accordance with
Section 2.15, so long as any Lender shall be a 

  
 2 

 Defaulting Lender, such Defaulting Lender’s NM Commitment shall be disregarded in the calculations
above; and (b) with respect to the Roll-Up Loans, a percentage equal to a fraction the numerator of which is such Lender’s Roll-Up Commitment at such time and
the denominator of which is the aggregate Roll- Up Commitments at such time. 
 “Applicable Pledge Percentage” means 100%,
but 65% in the case of a pledge by any Loan Party of its Equity Interests in an Affected Foreign Subsidiary. 
 “Applicable
Rate” means 9.00% per annum. 
 “Approved Budget” means each of (a) the aggregate, without duplication, of
all items approved by the Administrative Agent in its reasonable discretion that are set forth in the 13-week (i) cash flow forecast with respect to cash balances, receipts and disbursements of the
Borrowers and (ii) fee and expense incurrence forecast with respect to fees and expenses of professionals representing the Borrowers and any Committee in the Chapter 11 Cases projected to be incurred during each month (irrespective of the
projected disbursement date for such professional fees and expenses), in each case, attached to the Interim Order submitted to the Bankruptcy Court, or otherwise provided to the Administrative Agent in connection therewith, and in each case, in form
and substance satisfactory to the Administrative Agent in all respects, and (b) each updated such 13-week cash flow forecast and fee and expense incurrence forecast delivered to the Administrative Agent
pursuant to Section 5.03(f) or otherwise provided to the Administrative Agent in connection therewith, and in each case, in form and substance satisfactory to the Administrative Agent in all respects; provided that,
for the avoidance of doubt, any fee and expense incurrence forecast constituting an Approved Budget will be deemed to include, as part of such Approved Budget, approval of (i) the amounts set forth therein for professional fees and expenses to
be incurred by the Borrowers and any Committee for any period ending on or prior to delivery of a Carve-Out Trigger Notice or any such applicable revocation of approval following a Prepayment Event,
irrespective of when approved for payment by the Bankruptcy Court or paid, (ii) such amounts for such periods shall be viewed on a cumulative basis, with any unused amounts from one such period to be rolled forward or back, as applicable to
other such period(s) where the actual incurred amounts exceed the budgeted amounts, and (iii) the budgeted amounts approved for any week in any month shall be the prorated portion of the approved monthly amount included in the Approved Budget
for such month. 
 “Assignment and Assumption” means an assignment and assumption agreement entered into by a Lender and an
assignee (with the consent of any party whose consent is required by Section 9.04), and accepted by the Administrative Agent, in the form of Exhibit A or any other form approved by the Administrative Agent. 

“Availability Period” means the period from and including the Closing Date to but excluding the earlier of the Maturity Date
and the date of termination of the NM Commitments. 
 “Avoidance Actions” means the Loan Parties’ claims and causes of
action under chapter 5 of the Bankruptcy Code and similar laws. 
 “Avoidance Proceeds” means any proceeds and property
received from an Avoidance Action, whether by judgment, settlement or otherwise. 
 “Bankruptcy Code” means title 11 of the
United States Code, as in effect from time to time and applicable to the Chapter 11 Cases. 
 “Bankruptcy Court” has the
meaning ascribed to it in the recitals to the Agreement. 

  
 3 

 “Bankruptcy Court Orders” mean the Interim Order and Final Order. 

“Bankruptcy Event” means, with respect to any Person, when such Person becomes the subject of a bankruptcy or insolvency
proceeding, or has had a receiver, conservator, trustee, administrator, custodian, assignee for the benefit of creditors or similar Person charged with the reorganization or liquidation of its business, appointed for it, or, in the good faith
determination of the Administrative Agent, has taken any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any such proceeding or appointment, provided that a Bankruptcy Event shall not result solely by virtue
of any ownership interest, or the acquisition of any ownership interest, in such Person by a Governmental Authority or instrumentality thereof, unless such ownership interest results in or provides such Person with immunity from the jurisdiction of
courts within the U.S. or from the enforcement of judgments or writs of attachment on its assets or permits such Person (or such Governmental Authority or instrumentality) to reject, repudiate, disavow or disaffirm any contracts or agreements made
by such Person. 
 “Bankruptcy Rules” shall mean the Federal Rules of Bankruptcy Procedure, as the same may from time to
time be in effect and applicable to the Chapter 11 Cases. 
 “Bankruptcy Schedules” means the schedules and statement of
financial affairs of the Borrowers filed or to be filed with the Bankruptcy Court in the Chapter 11 Cases. 
 “Beneficial
Owner” means, for purposes of any U.S. federal withholding Tax, the beneficial owner upon which the incidence of such tax is borne directly in whole or in part. 

“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 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”. 
 “Board” means the Board of Governors of the
Federal Reserve System of the U.S. 
 “Borrower” has the meaning ascribed to it in the recitals to the Agreement. 

“Borrower Representative” means the Company. 

“Borrowing” means Loans of the same Type made on the same date. 

“Borrowing Request” means a request by the Borrower Representative for a Borrowing in accordance with
Section 2.03 the form attached hereto as Exhibit E. 
 “Budgeted Collections” has the
meaning set forth in Section 6.02(b). 
 “Budgeted Disbursements” has the meaning set forth in Section 6.02(c).

 “Business Day” means any day that is not a Saturday, Sunday or other day on which commercial banks in New York City are
authorized or required by law to remain closed. 
 “Capital Expenditures” means, without duplication, any expenditure or
commitment to expend money for any purchase or other acquisition of any asset which would be classified as a fixed or capital asset on a consolidated balance sheet of the Borrowers and their Subsidiaries prepared in accordance with GAAP.
Notwithstanding the foregoing, Capital Expenditures shall not include the following: 
 (a) expenditures made with any Net Proceeds to the
extent such proceeds are not then required to be applied to prepay the Loans pursuant to Section 2.08(c); 

  
 4 

 (b) expenditures that are accounted for as capital expenditures of such person and that
actually are paid for by a third party (excluding a Loan Party or Subsidiary thereof) and for which none of any Loan Party or any Subsidiary thereof has provided or is required to provide or incur, directly or indirectly, any consideration or
obligation to such third party or any other person (whether before, during or after such period); or 
 (c) the purchase price of equipment
purchased during such period to the extent that the consideration therefor consists of any combination of (i) used or surplus equipment traded in at the time of such purchase and (ii) the proceeds of a concurrent sale of used or surplus
equipment, in each case, in the ordinary course of business and to the extent permitted by the terms of this Agreement. 
 “Capital
Lease” shall mean any lease the obligations of which are required to be capitalized on the balance sheet of the Borrowers and their Subsidiaries in accordance with GAAP. 

“Capital Lease Obligations” of any Person means the obligations of such Person to pay rent or other amounts under any lease
of (or other arrangement conveying the right to use) real or personal property, or a combination thereof, which obligations are required to be classified and accounted for as capital leases on a balance sheet of such Person under GAAP, and the
amount of such obligations shall be the capitalized amount thereof determined in accordance with GAAP. 
 “Carve-Out” shall have the meaning assigned to the term “Carve-Out”, as such term is defined in the Interim Order or the Final Order, as applicable. 

“Carve-Out Escrow Account” means a reserve account in the name of the Borrower
Representative, c/o King & Spalding LLP, as bankruptcy counsel to the Borrowers, identified pursuant to Section 4.01(i). 

“Carve-Out Trigger Notice” shall have the meaning assigned to the term “Carve-Out Trigger Notice”, as such term is defined in the Interim Order or the Final Order, as applicable. 

“Challenge Period” means the “Challenge Period” as defined in the Interim Order or Final Order as in effect at the
relevant time. 
 “Challenge Proceeding” means a “Challenge Proceeding” as defined in the Interim Order or Final
Order. 
 “Change in Law” means the occurrence, after the date of this Agreement (or with respect to any Lender, if later,
the date on which such Lender becomes a Lender), 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, rules, guideline, requirement or directive (whether or not having the force of law) by any Governmental
Authority; provided however, that notwithstanding anything herein to the contrary, (i) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines, requirements and directives thereunder,
issued in connection therewith or in implementation thereof, and (ii) all requests, rules, guidelines, requirements and directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any
successor or similar authority) or the U.S. or foreign regulatory authorities, in each case pursuant to Basel III, shall in each case be deemed to be a “Change in Law” regardless of the date enacted, adopted, issued or implemented. 

  
 5 

 “Chapter 11 Case” and “Chapter 11 Cases” each have the
meaning ascribed to them in the recitals. 
 “Charges” has the meaning assigned to such term in
Section 9.17. 
 “Closing Date” means the date on which the conditions specified in
Section 4.01 are satisfied (or waived in accordance with Section 9.02). 

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

“Collateral” means any and all property owned by a Person covered by the Collateral Documents and any and all other property
of any Loan Party, now existing or hereafter acquired, that may at any time be or become, subject to a security interest or Lien in favor of the Administrative Agent, on behalf of itself and the Lenders and other Secured Parties, to secure the
Secured Obligations; provided that the Collateral shall exclude Excluded Property. 
 “Collateral Documents” means,
collectively, the Security Agreement, the Bankruptcy Court Orders and any other agreements, instruments and documents executed in connection with this Agreement that are intended to create, perfect or evidence Liens to secure the Secured
Obligations, including, without limitation, all other security agreements, pledge agreements, mortgages, loan agreements, notes, guarantees, subordination agreements, pledges, powers of attorney, consents, assignments, contracts, fee letters,
notices, leases, financing statements and all other written matter whether theretofore, now or hereafter executed by the Borrowers of any of their Subsidiaries and delivered to the Administrative Agent in connection with this Agreement. 

“Commitment” means, with respect to each Lender, such Lender’s NM Loan Commitment and
Roll-Up Commitment.. 
 “Committees” shall mean collectively, the official
committee of unsecured creditors and any other official committee appointed or approved in any Chapter 11 Case and each of such Committees shall be referred to herein as a Committee. 

“Communications” has the meaning assigned to such term in Section 9.01(d)(ii). 

“Company” has the meaning assigned to such term in the preamble to this Agreement. 

“Compliance Certificate” has the meaning assigned to such term in Section 5.03(c). 

“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. “Controlled” has the meaning correlative thereto. 

“Credit Event” means a Borrowing. 

“Credit Exposure” means, as to any Lender at any time, the sum of the aggregate outstanding principal amount of such
Lender’s NM Term Loans at such time. 
 “Credit Party” means the Administrative Agent or any Lender. 

“Default” means any event or condition which constitutes an Event of Default or which upon notice, lapse of time or both
would, unless cured or waived, become an Event of Default. 

  
 6 

 “Defaulting Lender” means any Lender that (a) has failed, within two
(2) Business Days of the date required to be funded or paid, to (i) fund any portion of its Loans, or (ii) pay over to any Credit Party any other amount required to be paid by it hereunder, unless, in the case of clause
(i) above, such Lender notifies the Administrative Agent in writing that such failure is the result of such Lender’s good faith determination that a condition precedent to funding (specifically identified and including the particular
default, if any) has not been satisfied, (b) has notified the Borrower Representative or any Credit Party in writing, or has made a public statement to the effect, that it does not intend or expect to comply with any of its funding obligations
under this Agreement (unless such writing or public statement indicates that such position is based on such Lender’s good faith determination that a condition precedent (specifically identified and including the particular default, if any) to
funding a Loan under this Agreement cannot be satisfied) or generally under other agreements in which it commits to extend credit, (c) has failed, within three (3) Business Days after request by a Credit Party, acting in good faith, to
provide a certification in writing from an authorized officer of such Lender that it will comply with its obligations (and is financially able to meet such obligations) to fund prospective Loans under this Agreement, provided that such Lender shall
cease to be a Defaulting Lender pursuant to this clause (c) upon such Credit Party’s receipt of such certification in form and substance satisfactory to it and the Administrative Agent, or (d) has become the subject of a Bankruptcy
Event. 
 “Domestic Subsidiary” means a Subsidiary organized under the laws of a jurisdiction located in the U.S. 

“dollars” or “$” refers to lawful money of the U.S. 

“Electronic Signature” means an electronic sound, symbol, or process attached to, or associated with, a contract or other
record and adopted by a Person with the intent to sign, authenticate or accept such contract or record. 
 “Electronic
System” means any electronic system, including e-mail, e-fax, Intralinks®, ClearPar® and any other Internet or extranet-based site, whether such electronic system is owned, operated or hosted by the Administrative Agent and any of its Related Parties or any other Person,
providing for access to data protected by passcodes or other security system. 
 “Eligible Investments” shall mean
(a) direct obligations of the U.S. or any governmental agency thereof which are fully guaranteed by the U.S., provided that such obligations mature within one year from the date of acquisition thereof; or (b) dollar denominated
certificates of time deposit maturing within one year issued by any bank organized and existing under the laws of the U.S. or any state thereof and having aggregate capital and surplus in excess of $1,000,000,000; or (c) money market mutual
funds having assets in excess of $2,500,000,000; or (d) commercial paper rated not less than P-1 or A-1 or their equivalent by Moody’s or S&P,
respectively; or (e) tax exempt securities of a U.S. issuer rated A or better by S&P or Moody’s; or (f) in respect of any Foreign Subsidiary, the substantial equivalent (including in respect of credit quality thereof) of any of
the foregoing in any jurisdiction in which such Foreign Subsidiary is organized or formed or doing business. 
 “Equity
Interests” means shares of capital stock, partnership interests, membership interests in a limited liability company, beneficial interests in a trust or other equity ownership interests in a Person, and any warrants, options or other rights
entitling the holder thereof to purchase or acquire any of the foregoing. 
 “ERISA” means the Employee Retirement Income
Security Act of 1974, as amended from time to time. 

  
 7 

 “ERISA Affiliate” means any trade or business (whether or not incorporated)
that, together with the Borrower, is treated as a single employer under Section 414(b) or (c) of the Code or, solely for purposes of Section 302 of ERISA and Section 412 of the Code, is treated as a single employer under
Section 414 of the Code. 
 “Event of Default” has the meaning assigned to such term in Article VII. 

“Excluded Property” means: 

(a) assets in respect of which pledges and security interests are prohibited by applicable U.S. law, rule or regulation or agreements with any
Governmental Authority; 
 (b) Equity Interests in any Person other than wholly owned subsidiaries to the extent not permitted by the terms
of such Person’s organizational or joint venture documents; 
 (c) any lease, license or other agreement to the extent that a grant of
a security interest therein would violate or invalidate such lease, license or agreement or create a right of termination in favor of any other party thereto (other than a Borrower or a Loan Guarantor) after giving effect to the applicable
anti-assignment provisions of the UCC, the Bankruptcy Code or other applicable law, other than proceeds and receivables thereof, the assignment of which is expressly deemed effective under the UCC notwithstanding such prohibition; 

(d) Specified Accounts; provided, that, to the full extent of each Borrower’s interest therein, any escrow account maintained
under the Stalking Horse Agreement or any other purchase agreement in respect of the Subject Assets and any deposit maintained therein, shall not constitute “Specified Accounts” or “Excluded Property”; 

(e) any application for registration of a trademark filed with the United States Patent and Trademark Office (“PTO”), on an intent-to-use basis, if the grant of a security interest therein would impair the validity or enforceability of such intent to use trademark applications under applicable
federal law until such time (if any) as a statement of use or amendment to allege use is accepted by the PTO, at which time such trademark shall automatically become part of the Collateral; and 

(n) any directors and officers insurance policy of any Borrower and the proceeds thereof; 

(m) Avoidance Actions, but excluding, effective upon entry of the Final Order, Avoidance Proceeds; 

provided that, for the avoidance of doubt, “Excluded Property” shall not include any proceeds, products, substitutions or replacements of
Excluded Property (unless such proceeds, products, substitutions or replacements would otherwise constitute Excluded Property). 

“Excluded Taxes” means any of the following Taxes imposed on or with respect to a Recipient or required to be withheld or
deducted from a payment to a Recipient: (a) Taxes imposed on or measured by net income (however denominated), franchise Taxes, and branch profits Taxes, in each case, (i) imposed as a result of such Recipient being organized under the laws
of, or having its principal office or, in the case of any Lender, its 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, U.S. federal withholding Taxes imposed on amounts payable to or for the account of such Lender with respect to an applicable interest in a Loan or Commitment pursuant to a law in effect on the date on which (i) such Lender 

  
 8 

 acquires such interest in the Loan or Commitment (other than pursuant to an assignment request by a Borrower
under Section 2.14(b)) or (ii) such Lender changes its lending office, except in each case to the extent that, pursuant to Section 2.12, amounts with respect to such Taxes were payable either
to such Lender’s assignor immediately before such Lender acquired the applicable interest in a Loan or Commitment or to such Lender immediately before it changed its lending office, (c) Taxes attributable to such Recipient’s failure
to comply with Section 2.12(f) and (d) any U.S. federal withholding Taxes imposed under FATCA. 

“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, any agreement entered into pursuant to Section 1471(b)(1) of the Code and any
intergovernmental agreements to implement such Sections of the Code entered into between any relevant authorities on behalf of the U.S. and such jurisdiction. 

“Federal Funds Effective Rate” means, for any day, the weighted average of the rates on overnight Federal funds transactions
with members of the Federal Reserve System, as published on the next succeeding Business Day by the FRBNY, or, if such rate is not so published for any day that is a Business Day, the average of the quotations for such day for such transactions
received by the Administrative Agent from three Federal funds brokers of recognized standing selected by it. 
 “Final
Order” means, collectively, one or more orders of the Bankruptcy Court entered in the Chapter 11 Cases after a final hearing in accordance with Bankruptcy Rule 4001(c)(2) or such other procedures as approved by the Bankruptcy Court, which
order shall be reasonably satisfactory in form and substance to Administrative Agent, and which order is in effect and not stayed, together with all extensions, modifications and amendments thereto, in form and substance reasonably satisfactory to
Administrative Agent, which, among other matters (but not by way of limitation), authorizes the Borrowers to obtain credit, incur (or guaranty) Indebtedness (including, without limitation, the Roll-Up Loans),
and grant Liens under this Agreement and the other Loan Documents, as the case may be, perfects such Liens with the priority provided herein, provides for the super priority of the Secured Parties’ claims and authorizes the use of cash
collateral and provides for adequate protection. 
 “Financial Officer” means the chief financial officer, principal
accounting officer or treasurer of the Borrower Representative. 
 “First Tier Foreign Subsidiary” means each Foreign
Subsidiary with respect to which any one or more of the Company and its Domestic Subsidiaries directly owns or Controls more than 50% of such Foreign Subsidiary’s issued and outstanding Equity Interests. 

“Foreign Lender” means (a) if a Borrower is a U.S. Person, a Lender, with respect to such Borrower, that is not a U.S.
Person, and (b) if a Borrower is not a U.S. Person, a Lender, with respect to such Borrower, that is resident or organized under the laws of a jurisdiction other than that in which a Borrower is resident for tax purposes. 

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

“FRBNY” means the Federal Reserve Bank of New York. 

“Funding Account” has the meaning assigned to such term in Section 4.01(i). 

“GAAP” means generally accepted accounting principles in the U.S. 

  
 9 

 “Governmental Authority” means the government of the U.S., any other nation
or 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. 
 “Guarantee” of or by any Person (the “guarantor”) means
any obligation, contingent or otherwise, of the guarantor guaranteeing or having the economic effect of guaranteeing any Indebtedness or other obligation of any other Person (the “primary obligor”) in any manner, whether directly or
indirectly, and including any obligation of the guarantor, direct or indirect, (a) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other obligation or to purchase (or to advance or supply
funds for the purchase of) any security for the payment thereof, (b) to purchase or lease property, securities or services for the purpose of assuring the owner of such Indebtedness or other obligation of the payment thereof, (c) to
maintain working capital, equity capital or any other financial statement condition or liquidity of the primary obligor so as to enable the primary obligor to pay such Indebtedness or other obligation or (d) as an account party in respect of
any letter of credit or letter of guaranty issued to support such Indebtedness or obligation; provided that the term Guarantee shall not include endorsements for collection or deposit in the ordinary course of business. 

“Guaranteed Obligations” has the meaning assigned to such term in Section 10.01. 

“Guarantor Payment” has the meaning assigned to such term in Section 10.11(a). 

“Guarantors” means all Loan Guarantors, and the term “Guarantor” means each or any one of them individually. 

“Indebtedness” of any Person means, without duplication, (a) all obligations of such Person for borrowed money,
(b) all obligations of such Person evidenced by bonds, debentures, notes or similar instruments, (c) all obligations of such Person under conditional sale or other title retention agreements relating to property acquired by such Person,
(d) all obligations of such Person in respect of the deferred purchase price of property or services (excluding accounts payable incurred in the ordinary course of business), (e) all Indebtedness of others secured by (or for which the holder of
such Indebtedness has an existing right, contingent or otherwise, to be secured by) any Lien on property owned by such Person, whether or not the Indebtedness secured thereby has been assumed, (f) all Guarantees by such Person of Indebtedness
of others, (g) all Capital Lease Obligations of such Person, and (h) all obligations, contingent or otherwise, of such Person as an account party in respect of letters of credit and letters of guaranty. The Indebtedness of any Person shall
include the Indebtedness of any other entity (including any partnership in which such Person is a general partner) to the extent such Person is liable therefor as a result of such Person’s ownership interest in or other relationship with such
entity, except to the extent the terms of such Indebtedness provide that such Person is not liable therefor. 
 “Indemnified
Taxes” means (a) Taxes, other than Excluded Taxes, imposed on or with respect to any payment made by or on account of any obligation of any Loan Party under any Loan Document and (b) to the extent not otherwise described in the
foregoing clause (a), Other Taxes. 
 “Indemnitee” has the meaning assigned to such term in
Section 9.03(b). 
 “Information” has the meaning assigned to such term in
Section 9.12. 

  
 10 

 “Intellectual Property” means (i) patents, trademarks, trade secrets,
copyrights, know-how and all rights thereunder or in respect thereof that are either owned by or licensed to any Borrower or any Subsidiary, including but not limited to those identified on Schedule
3.04(b), and (ii) including but not limited to, all income, royalties, damages, and payments now or hereafter due or payable with respect thereto, including, without limitation, damages, claims, and payments for past, present, and future
infringements thereof, and all rights to sue for past, present, and future infringements of the foregoing, including the right to settle suits involving claims and demands for royalties owing, and rights of priority and protection of interests
therein under the laws of any jurisdiction worldwide and all tangible embodiments thereof. 
 “Interest Payment Date” means
with respect to any Loan, the first day of each calendar quarter, the Maturity Date, and any day any prepayment is made on such Loan. 

“Interim Availability Amount” means the lesser of (a) $3,000,000 and (b) such amount of NM Term Loans authorized to be
borrowed by the Borrowers pursuant to the terms of the Interim Order. 
 “Interim Order” means, collectively, one or more
orders of the Bankruptcy Court entered in the Chapter 11 Cases after an interim hearing (assuming satisfaction of the standards prescribed in Section 364 of the Bankruptcy Code and Bankruptcy Rule 4001 and of other applicable law or such other
procedures as approved by the Bankruptcy Court), together with all extensions, modifications, substantially in the form of Exhibit G hereto, or otherwise in form and substance reasonably satisfactory to the Administrative Agent, which, among
other matters but not by way of limitation, authorizes, on an interim basis, the Borrowers and Guarantors to execute and perform under the terms of this Agreement and the other Loan Documents. 

“IRS” means the United States Internal Revenue Service. 

“Joinder Agreement” means a Joinder Agreement in substantially the form of Exhibit D. 

“Knowledge” means knowledge of material information actually possessed, or which should in the reasonable course of business
be possessed, by a managing executive or person in charge of Intellectual Property matters of any Borrower or any Subsidiary. 

“Lenders” means the Persons listed on Schedule 2.01 and any other Person that shall have become a Lender hereunder
pursuant to an Assignment and Assumption, other than any such Person that ceases to be a Lender hereunder pursuant to an Assignment and Assumption. 

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

“Loan Documents” means, collectively, this Agreement, each promissory note issued pursuant to this Agreement, each Collateral
Document, the Loan Guaranty and each other agreement, instrument, document and certificate identified in Section 4.01 executed and delivered to, or in favor of, the Administrative Agent or any Lender and including each
other pledge, power of attorney, consent, assignment, contract, notice and each other written matter whether heretofore, now or hereafter executed by or on behalf of any Loan Party, or any employee of any Loan Party, and delivered to the
Administrative Agent or any Lender in connection with this Agreement. Any reference in this Agreement or any other Loan Document to a Loan Document shall include all appendices, exhibits or schedules thereto, and all amendments, restatements,
supplements or other modifications thereto, and shall refer to this Agreement or such Loan Document as the same may be in effect at any and all times such reference becomes operative. 

“Loan Guarantor” means each Loan Party. 

  
 11 

 “Loan Guaranty” means Article X of this Agreement. 

“Loan Parties” means, collectively, the Borrowers and any other borrower who becomes a party to this Agreement pursuant to a
Joinder Agreement and their successors and assigns, and the term “Loan Party” shall mean any one of them or all of them individually, as the context may require. 

“Loans” means the loans and advances made (or deemed made) by the Lenders pursuant to this Agreement, including but not
limited to all NM Term Loans and all Roll-Up Loans. 
 “Material Adverse Effect”
means a material adverse effect on (a) the business, operations, property or condition, financial or otherwise, of the Company and its Subsidiaries taken as a whole, or (b) the validity or enforceability of (i) this Agreement or any
of the other Loan Documents or (ii) the rights of or remedies available to the Administrative Agent or the Lenders under any of the Loan Documents; provided, that the filing of the Chapter 11 Cases and the facts, events, circumstances or
conditions that arise after the Petition Date that customarily occur or arise in connection with the filing of a bankruptcy case shall not constitute a Material Adverse Effect for purposes of this Agreement. 

“Maturity Date” means the earliest of the following: (a) December 12, 2022 (the “Stated Maturity
Date”), as such date may be extended pursuant to Section 2.04; (b) the close of the sale of the Subject Assets pursuant to a Sale Order; and (c) the acceleration of the maturity of the Loans and the
termination of the Commitments pursuant to Article VII hereof after the occurrence and during the continuance of an Event of Default hereunder. 

“Maximum Rate” has the meaning assigned to such term in Section 9.17. 

“Moody’s” means Moody’s Investors Service, Inc. 

“Multiemployer Plan” means a multi-employer plan as defined in Section 4001(a)(3) of ERISA. 

“Net Proceeds” means, with respect to any event, (a) the cash proceeds received in respect of such event including
(i) any cash received in respect of any non-cash proceeds (including any cash payments received by way of deferred payment of principal pursuant to a note or installment receivable or purchase price
adjustment receivable or otherwise, but excluding any interest payments), but only as and when received, (ii) in the case of a casualty, insurance proceeds and (iii) in the case of a condemnation or similar event, condemnation awards and
similar payments, minus (b) the sum of (i) all fees, costs and out-of-pocket expenses paid or to be paid to third parties (other than Affiliates) in connection
with such event including, without limitation, attorneys’ fees, investment banking fees (including, any and all success fees approved by the Bankruptcy Court, including sale transaction fees payable to the Borrowers’ and/or
Committee’s professional advisors retained by Bankruptcy Court order), accountant fees, underwriting discounts and commissions and other customary costs, fees and expenses incurred in connection with such event, (ii) in the case of a sale,
transfer or other disposition of an asset (including a casualty or a condemnation or similar proceeding), the amount of all payments required to be made as a result of such event to repay Indebtedness (other than Loans) secured by such asset or
otherwise subject to mandatory prepayment as a result of such event, and the amounts required, pursuant to section 365 of the Bankruptcy Code, to cure defaults in any executory contracts that that are assumed and assigned by the Borrowers, and
(iii) the amount of all taxes paid (or taxes (which pursuant to applicable law are senior in payment and Lien priority to the Secured Obligations or the Prepetition Obligations, but in any case, excluding any federal or state income taxes)
reasonably estimated to be payable), the amount of any reserves established to fund contingent liabilities reasonably estimated to be payable and any purchase price adjustments associated with such event, in each case during the year that such event
occurred or the next succeeding year and that are directly attributable to such event (as determined reasonably and in good faith by a Financial Officer). 

  
 12 

 “NM Commitment” means, with respect to each Lender, the commitment, of such
Lender pursuant to Section 2.01(a) and set forth on Schedule 2.01, to make NM Term Loans hereunder, expressed as an amount representing the maximum aggregate permitted amount of such Lender’s Credit Exposure
hereunder, as such commitment may be (a) reduced or terminated from time to time pursuant to Section 2.06, and (b) reduced or increased from time to time pursuant to assignments by or to such Lender pursuant to
Section 9.04. For the avoidance of doubt, the NM Commitment of each Lender does not include any Roll-Up Commitment of such Lender. 

“NM Term Loan” means the term loan made to the Borrowers pursuant to Section 2.01. 

“Non-Consenting Lender” has the meaning assigned to such term in
Section 9.02(d). 
 “Obligated Party” has the meaning assigned to such term in
Section 10.02. 
 “Obligations” means all unpaid principal of and accrued and unpaid interest on
the Loans, all accrued and unpaid fees and all expenses, reimbursements, indemnities and other obligations and indebtedness (including interest and fees accruing during the pendency of any bankruptcy, insolvency, receivership or other similar
proceeding, regardless of whether allowed or allowable in such proceeding), obligations and liabilities of any of the Borrowers and their Subsidiaries to any of the Lenders, the Administrative Agent or any indemnified party, individually or
collectively, existing on the Closing Date or arising thereafter, direct or indirect, joint or several, absolute or contingent, matured or unmatured, liquidated or unliquidated, secured or unsecured, arising by contract, operation of law or
otherwise, arising or incurred under this Agreement or any of the other Loan Documents or in respect of any of the Loans made or reimbursement or other obligations incurred or instruments at any time evidencing any thereof. 

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

“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 Taxes (other than a connection 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 any 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 2.14). 

“Participant” has the meaning assigned to such term in Section 9.04(c). 

“Participant Register” has the meaning assigned to such term in Section 9.04(c). 

“Permitted Liens” shall mean the Liens specified in Section 6.01. 

“Permitted Priority Liens” shall mean Permitted Liens that were valid, properly perfected,
non- avoidable, and senior in priority to the Prepetition Bridge Agent’s Liens or the Prepetition First Lien Agent’s Liens on the Petition Date. 

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

  
 13 

 “Petition Date” has the meaning ascribed to it in the recitals to this
Agreement. 
 “Plan” means any employee pension benefit plan (other than a Multiemployer Plan) subject to the provisions of
Title IV of ERISA or Section 412 of the Code or Section 302 of ERISA, and in respect of which any Borrower or any ERISA Affiliate is (or, if such plan were terminated, would under Section 4069 of ERISA be deemed to be) an
“employer” as defined in Section 3(5) of ERISA. 
 “Pledge Subsidiary” means (a) each Domestic
Subsidiary and (b) each First Tier Foreign Subsidiary. 
 “Prepayment Event” means each of the following events (other
than any such event that the Administrative Agent has agreed in writing does not constitute a “Prepayment Event”): 
 (a) any sale,
transfer or other disposition (including pursuant to a sale and leaseback transaction) of any property or asset of any Borrower or any Subsidiary, other than dispositions described in (and permitted by) Sections 6.04(a) and (b); 

(b) any casualty or other insured damage to, or any taking under power of eminent domain or by condemnation or similar proceeding of, any
property or asset of the Borrowers or any Subsidiary with a fair value immediately prior to such event equal to or greater than $1,000,000; or 

(c) the incurrence by any Borrower or any Subsidiary of any Indebtedness, other than Indebtedness permitted under
Section 6.03. 
 “Prepetition” means the time period ending immediately prior to the filing of
the Chapter 11 Cases. 
 “Prepetition Agent” means the Prepetition Bridge Loan Agent, the Prepetition First Lien Agent or
the Prepetition Second Lien Agent, as applicable. 
 “Prepetition Agents’ Liens” means, collectively, the Prepetition
Bridge Loan Agent’s Liens, the Prepetition First Lien Agent’s Liens and the Prepetition Second Lien Agents’ Liens. 

“Prepetition Agents’ Adequate Protection Liens” means, collectively, the Prepetition Bridge Loan Agent’s Adequate
Protection Liens, the Prepetition First Lien Agent’s Adequate Protection Liens and the Prepetition Second Lien Agents’ Adequate Protection Liens. 

“Prepetition Bridge Loan Agent” means Circles MVNE Pte. Ltd., in its capacity as administrative agent and collateral agent
for the Prepetition Bridge Note Holders. 
 “Prepetition Bridge Loan Agent’s Adequate Protection Liens” shall have the
meaning ascribed to the term “Prepetition Bridge Loan Adequate Protection Liens”, as such term is defined in the Interim Order or the Final Order, as applicable. 

“Prepetition Bridge Loan Agent’s Liens” means the Liens in favor of the Prepetition Bridge Loan Agent for the benefit of
itself and the Prepetition Bridge Loan Holders granted pursuant to the Prepetition Bridge Note Documents by the Prepetition Bridge Note Parties in the Collateral (as therein defined) to secure the Prepetition Bridge Loan Obligations. 

“Prepetition Bridge Loan Holder” means each Holder as defined in the Prepetition Bridge Notes. 

  
 14 

 “Prepetition Bridge Note” means the Bridge Notes issued pursuant to, and as
defined in, the Prepetition Bridge Loan Securities Purchase Agreement. 
 “Prepetition Bridge Note Documents” means the
Note Documents as defined in the Prepetition Bridge Loan Security Agreement. 
 “Prepetition Bridge Note Parties” means the
Grantors as defined in the Prepetition Bridge Loan Security Agreement. 
 “Prepetition Bridge Loan Obligations” shall mean
all indebtedness, obligations and liabilities of the Company and the other Prepetition Bridge Note Parties to the Prepetition Bridge Loan Agent and each Prepetition Bridge Loan Holder that constitute Obligations (as defined in the Prepetition Bridge
Loan Security Agreement), including, without limitation, all such Obligations arising from or related to the Prepetition Bridge Note Documents including fees, interest, (including expense reimbursement obligations and indemnities due thereunder and
interest thereon accruing both before and after the Petition Date), whether such indebtedness, obligations or liabilities are direct or indirect, joint or several, absolute or contingent, due or to become due, whether for payment or performance, now
existing or hereafter arising. 
 “Prepetition Bridge Loan Secured Parties” means, collectively, the Prepetition Bridge
Loan Holders and the Prepetition Bridge Loan Agent. 
 “Prepetition Bridge Loan Securities Purchase Agreement” means
that certain Securities Purchase Agreement dated as of April 25, 2022, among the Company, the Prepetition Bridge Note Holders and the Prepetition Bridge Note Agent. 

“Prepetition Bridge Loan Security Agreement” means that certain Security Agreement dated as of April 25, 2022, among the
Company, the other Prepetition Bridge Note Parties and the Prepetition Bridge Note Agent. 
 “Prepetition First Lien Agent”
means Circles MVNE Pte. Ltd., in its capacity as administrative agent and collateral agent for the Prepetition First Lien Holders, as successor to High Trail Investments SA LLC in such capacities. 

“Prepetition First Lien Agent’s Adequate Protection Liens” shall have the meaning ascribed to the term “Prepetition
First Lien Adequate Protection Liens”, as such term is defined in the Interim Order or the Final Order, as applicable. 

“Prepetition First Lien Agent’s Liens” means the Liens in favor of the Prepetition First Lien Agent for the benefit of
itself and the Prepetition First Lien Holders granted pursuant to the Prepetition First Lien Note Documents by the Prepetition First Lien Note Parties in the Collateral (as therein defined) to secure the Prepetition First Lien Obligations. 

“Prepetition First Lien Holder” means each Holder as defined in the Prepetition First Lien Notes. 

“Prepetition First Lien Note” means the Notes issued pursuant to, and as defined in, the Prepetition First Lien Securities
Purchase Agreement. 
 “Prepetition First Lien Note Documents” means the Note Documents as defined in the Prepetition First
Lien Security Agreement. 

  
 15 

 “Prepetition First Lien Note Parties” means the Grantors as defined in the
Prepetition First Lien Security Agreement. 
 “Prepetition First Lien Obligations” shall mean all indebtedness, obligations
and liabilities of the Company and the other Prepetition First Lien Note Parties to the Prepetition First Lien Agent and each Prepetition First Lien Holder that constitute Obligations (as defined in the Prepetition First Lien Security Agreement),
including, without limitation, all such Obligations arising from or related to the Prepetition First Lien Note Documents including fees, interest, (including expense reimbursement obligations and indemnities due thereunder and interest thereon
accruing both before and after the Petition Date), whether such indebtedness, obligations or liabilities are direct or indirect, joint or several, absolute or contingent, due or to become due, whether for payment or performance, now existing or
hereafter arising. 
 “Prepetition First Lien Secured Parties” means, collectively, the Prepetition First Lien Holders and
the Prepetition First Lien Agent. 
 “Prepetition First Lien Securities Purchase Agreement” means that certain Securities
Purchase Agreement dated as of June 8, 2020, among the Company, the Prepetition First Lien Holders and the Prepetition First Lien Agent. 

“Prepetition First Lien Security Agreement” means that certain Security Agreement dated as of June 8, 2020, among the
Company, the other Prepetition First Lien Note Parties and the Prepetition First Lien Agent. 
 “Prepetition Holders”
means, collectively, the Prepetition Bridge Note Holders, the Prepetition First Lien Holders and the Prepetition Second Lien Holders. 

“Prepetition Note Documents” means collectively, the Prepetition Notes and the other Prepetition Bridge Loan Note Documents,
Prepetition First Lien Note Documents and Prepetition Second Lien Note Documents. 
 “Prepetition Note Parties” means,
collectively, the Borrowers, in their capacity as borrowers under the Prepetition Obligations. 
 “Prepetition Notes”
means, collectively, the Prepetition Bridge Notes, Prepetition First Lien Notes and the Prepetition Second Lien Notes. 

“Prepetition Obligations” means, together, the Prepetition Bridge Loan Obligations and the Prepetition First Lien
Obligations. 
 “Prepetition Second Lien Agent” means Circles MVNE Pte. Ltd., in its capacity as administrative agent and
collateral agent for the Prepetition Second Lien Holders, as successor to B.M.F. De Kroes- Brinkers and Hoving & Partners S.A. in such capacities. 

“Prepetition Second Lien Agent’s Adequate Protection Liens” shall have the meaning ascribed to the term
“Prepetition Second Lien Adequate Protection Liens”, as such term is defined in the Interim Order or the Final Order, as applicable. 

“Prepetition Second Lien Agent’s Liens” means the Liens in favor of the Prepetition Second Lien Agent for the benefit of
itself and the Prepetition Second Lien Holders granted pursuant to the Prepetition Second Lien Note Documents by the Prepetition Second Lien Note Parties in the Collateral (as therein defined) to secure the Prepetition Second Lien Obligations. 

  
 16 

 “Prepetition Second Lien Holder” means each Holder as defined in the
Prepetition Second Lien Notes. 
 “Prepetition Second Lien Note” means the convertible notes issued pursuant to, and as
defined in, the Prepetition Second Lien Securities Purchase Agreements. 
 “Prepetition Second Lien Note Documents” means
the Note Documents as defined in the Prepetition Second Lien Security Agreement. 
 “Prepetition Second Lien Note Parties”
means the Grantors as defined in the Prepetition Second Lien Security Agreement. 
 “Prepetition Second Lien Obligations”
shall mean all indebtedness, obligations and liabilities of the Company and the other Prepetition Second Lien Note Parties to the Prepetition Second Lien Agent and each Prepetition Second Lien Holder that constitute Obligations (as defined in the
Prepetition Second Lien Security Agreement), including, without limitation, all such Obligations arising from or related to the Prepetition Second Lien Note Documents including fees, interest, (including expense reimbursement obligations and
indemnities due thereunder and interest thereon accruing both before and after the Petition Date), whether such indebtedness, obligations or liabilities are direct or indirect, joint or several, absolute or contingent, due or to become due, whether
for payment or performance, now existing or hereafter arising. 
 “Prepetition Second Lien Secured Parties” means,
collectively, the Prepetition Second Lien Holders and the Prepetition Second Lien Agent. 
 “Prepetition Second Lien Securities
Purchase Agreements” means, collectively, that certain Securities Purchase Agreement dated as of February 22, 2021, among the Company, B.M.F. De Kroes- Brinkers and the Prepetition Second Lien Agent, and that certain Securities
Purchase Agreement dated as of April 13, 2021, among the Company, the Prepetition Second Lien Holders and the prepetition Second Lien Agent. 

“Prepetition Second Lien Security Agreement” means that certain Security Agreement dated as of February 22, 2021, among the
Company, the other Prepetition Second Lien Note Parties and the Prepetition Second Lien Agent. 
 “Recipient” means, as
applicable, (a) the Administrative Agent, and (b) any Lender, or any combination thereof (as the context requires). 

“Register” has the meaning assigned to such term in Section 9.04(b). 

“Related Agreements” has the meaning assigned to such term in Section 9.20(d). 

“Related Lender” means (a) with respect to any NM Lender, (i) any of its Affiliates that are Prepetition Holders on
the date of this Agreement or any other applicable date of determination in connection with the transactions contemplated by Section 2.01(b) or 2.01(c) or (ii) if and to the extent that such NM Lender is acting
as a “fronting lender” (or similar role) for any Person that is a Prepetition Holder, in accordance with the procedures separately agreed among the Administrative Agent, such NM Lender, and such Prepetition Holder and any of its
Affiliates, and (b) with respect to any Prepetition Holder, (i) any of their Affiliates that are Prepetition Holders on the date of this Agreement or any other applicable date of determination in connection with the transactions
contemplated by Section 2.01(b) or 2.01(c) or (ii) any NM Lender acting as a “fronting lender” (or similar role) for such Prepetition First Lien Lender, in accordance with the procedures separately
agreed among the Administrative Agent and such NM Lender. 

  
 17 

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

“Remaining Prepetition Bridge Note Obligations” means, at any time, (a) for any Prepetition Bridge Note Holder, the
outstanding Prepetition Bridge Notes and other Prepetition Bridge Note Obligations of such Prepetition Bridge Note Holder that have not been converted to Roll-Up Loans at such time, and (b) for any other
Prepetition Bridge Note Secured Party, the Prepetition Bridge Note Obligations of such Prepetition Bridge Note Secured Party at such time. 

“Remaining Prepetition First Lien Obligations” means, at any time, (a) for any Prepetition First Lien Holder, the
outstanding Prepetition First Lien Notes and other Prepetition First Lien Obligations of such Prepetition First Lien Holder that have not been converted to Roll-Up Loans at such time, and (b) for any
other Prepetition First Lien Secured Party, the Prepetition First Lien Obligations of such Prepetition First Lien Secured Party at such time. 

“Repayment Financing” has the meaning assigned to such term in Section 7.01(i)(i). 

“Report” means reports prepared by the Administrative Agent or another Person showing the results of appraisals, field
examinations or audits pertaining to the Borrowers’ assets from information furnished by or on behalf of the Borrowers, after the Administrative Agent has exercised its rights of inspection pursuant to this Agreement, which Reports may be
distributed to the Lenders by the Administrative Agent. 
 “Reportable Event” is as defined in Section 4043 of ERISA
or the regulations issued thereunder with respect to a Plan (other than an event for which the thirty (30) day notice requirement is waived). 

“Required Lenders” means, at any time, if there are more than two lenders, at least two (2) Lenders (other than
Defaulting Lenders) having Credit Exposure and unused Commitments representing greater than 50% of the sum of the Aggregate Credit Exposure and unused Commitments at such time. 

“Requirement of Law” means, with respect to any Person, (a) the charter, articles or certificate of organization or
incorporation and bylaws or operating, management or partnership agreement, or other organizational or governing documents of such Person and (b) any statute, law (including common law), treaty, rule, regulation, code, ordinance, order, decree,
writ, judgment, injunction or determination of any arbitrator or court or other Governmental Authority, in each case applicable to or binding upon such Person or any of its property or to which such Person or any of its property is subject. 

“Restricted Payment” has the meaning assigned to such term in Section 6.10. 

“Roll-Up Commitment” means, with respect to each Lender, the commitment of such
Lender to accept a “roll-up” of the principal amount of the Prepetition Obligations due to such Lender identified on Schedule 2.01 pursuant to Section 2.01(b). 

“Roll-Up Loans” has the meaning set forth in Section 2.01(b). 

“S&P” means Standard & Poor’s Ratings Services, a Standard & Poor’s Financial Services LLC
business. 
 “Sale Order” has the meaning provided in Section 5.09(c). 

  
 18 

 “Sale Procedure Motion” means a motion seeking to sell the Subject Assets
in one or more sales under Section 363 of the Bankruptcy Code, together with (a) a copy of a form asset purchase agreement for the Subject Assets, and (b) a proposed Sale Procedure Order, each in form and substance reasonably
satisfactory to the Administrative Agent. 
 “Sale Procedure Order” means any order issued by the Bankruptcy Court
establishing an auction process and bid procedures for the sale of the Subject Assets, in form and substance reasonably satisfactory to Administrative Agent, including, without limitation, that contains a bid deadline that is consistent with
milestones provided in Section 5.09. 
 “Sanctioned Country” means, at any time, a country,
region or territory which is the subject or target of any Sanctions (as of the date of this Agreement, only Crimea, Cuba, Iran, North Korea, Sudan and Syria are Sanctioned Countries). 

“Sanctioned Person” means, at any time, (a) any Person listed in any Sanctions-related list of designated Persons
maintained by OFAC, the U.S. Department of State, the United Nations Security Council, the European Union or any EU member state, (b) any Person operating, organized or resident in a Sanctioned Country or (c) any Person owned or controlled
by any such Person. 
 “Sanctions” means economic or financial sanctions or trade embargoes imposed, administered or
enforced from time to time by (a) the U.S. government, including those administered by OFAC or the U.S. Department of State or (b) the United Nations Security Council, the European Union, any European Union member state or Her
Majesty’s Treasury of the United Kingdom. 
 “SEC” means the Securities and Exchange Commission of the U.S. 

“Secured Obligations” means all Obligations. 

“Secured Parties” means (a) the Lenders, (b) the Administrative Agent, (c) the beneficiaries of each
indemnification obligation undertaken by any Loan Party under any Loan Document and (d) the successors and assigns of each of the foregoing. 

“Security Agreement” means that certain Security Agreement (including any and all supplements thereto), dated as of the date
hereof, among the Loan Parties and the Administrative Agent, for the benefit of the Administrative Agent and the other Secured Parties, and any other security agreement entered into, after the date of this Agreement by any other Loan Party (as
required by this Agreement or any other Loan Document) or any other Person for the benefit of the Administrative Agent and the other Secured Parties, as the same may be amended, restated, supplemented or otherwise modified from time to time. 

“Specified Accounts” means trust accounts, payroll accounts and escrow accounts of the Loan Parties. 

“Stalking Horse Agreement” means the Asset Purchase Agreement dated as of May 15, 2022, among the Borrowers, as sellers,
and Circles MVNE Pte. Ltd., and Channel Ventures Group, LLC, as purchasers, for the purchase in the aggregate of substantially all the Subject Assets, in form and substance reasonably satisfactory to the Administrative Agent; provided, that,
if the aggregate Net Proceeds to be received by the Borrowers from the consummation of the transactions thereunder is less than 100% of the sum of the projected amount required to fully fund the Carve-Out and
to fully repay the Secured Obligations and the Prepetition Obligations as of the Stated Maturity Date, then such agreement shall also be in form and substance reasonably satisfactory to the Required Lenders. 

  
 19 

 “Stated Maturity Date” has the meaning ascribed to such term in the
definition of Maturity Date. 
 “Statement” has the meaning assigned to such term in
Section 2.13(g). 
 “Subject Assets” means the business and assets of the Borrowers. 

“Subsidiary” means any direct or indirect subsidiary of a Borrower or of any other Loan Party, as applicable. 

“Taxes” means any and 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. 

“Testing Period” shall mean the first four weeks after the Closing Date and on a rolling four-week basis thereafter, to be
tested commencing the fifth Friday following the Closing Date and every other Friday thereafter. 
 “Transactions” means
the execution, delivery and performance by the Loan Parties of this Agreement and the other Loan Documents, the borrowing of Loans and other credit extensions and the use of the proceeds thereof. 

“Type” means (a) with respect to Commitments, either a NM Commitment or a
Roll-Up Commitment and (b) with respect to Loans, either a NM Term Loan made pursuant to Section 2.01(a) or a Roll-Up Loans made pursuant
to Section 2.01(b). 
 “UCC” means the Uniform Commercial Code as in effect from time to time in
the State of New York or in any other state, the laws of which are required to be applied in connection with the issue of perfection of security interests. 

“Unliquidated Obligations” means, at any time, any Secured Obligations (or portion thereof) that are contingent in nature or
unliquidated at such time, including any Secured Obligation that is: (i) any obligation (including any guarantee) that is contingent in nature at such time; or (ii) an obligation to provide collateral to secure any of the foregoing types
of obligations. 
 “U.S.” means the United States of America. 

“U.S. Person” means a “United States person” within the meaning of Section 7701(a)(30) of the Code. 

“U.S. Tax Compliance Certificate” has the meaning assigned to such term in Section 2.12(f)(ii)(B)(3). 

“USA PATRIOT Act” means the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and
Obstruct Terrorism Act of 2001. 
 SECTION 1.02. Terms Generally. 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 “law” shall be construed as referring to all statutes, rules, regulations, codes and other laws (including official rulings and interpretations thereunder having the
force of law or with which affected Persons customarily comply) and 

  
 20 

 all judgments, orders and decrees of all Governmental Authorities. The word “will” shall be
construed to have the same meaning and effect as the word “shall.” Unless the context requires otherwise (a) any definition of or reference to any agreement, instrument or other document herein shall be construed as referring to such
agreement, instrument or other document as from time to time amended, restated, supplemented or otherwise modified (subject to any restrictions on such amendments, restatements, supplements or modifications set forth herein), (b) any definition of
or reference to any statute, rule or regulation shall be construed as referring thereto as from time to time amended, supplemented or otherwise modified (including by succession of comparable successor laws), (c) any reference herein to any Person
shall be construed to include such Person’s successors and assigns (subject to any restrictions on assignments set forth herein) and, in the case of any Governmental Authority, any other Governmental Authority that shall have succeeded to any
or all functions thereof, (d) the words “herein,” “hereof” and “hereunder,” and words of similar import, shall be construed to refer to this Agreement in its entirety and not to any particular provision hereof,
(e) all references herein to Articles, Sections, Exhibits and Schedules shall be construed to refer to Articles and Sections of, and Exhibits and Schedules to, this Agreement, (f) any reference in any definition to the phrase “at any
time” or “for any period” shall refer to the same time or period for all calculations or determinations within such definition, and (g) 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. 

SECTION 1.03. Accounting Terms; GAAP. Except as otherwise expressly provided herein, all terms of an accounting or financial nature
shall be construed in accordance with GAAP, as in effect from time to time; provided that, if after the date hereof there occurs any change in GAAP or in the application thereof on the operation of any provision hereof and the Borrower
Representative notifies the Administrative Agent that the Borrowers request an amendment to any provision hereof to eliminate the effect of such change in GAAP or in the application thereof (or if the Administrative Agent notifies the Borrower
Representative that the Required Lenders request an amendment to any provision hereof for such purpose), regardless of whether any such notice is given before or after such change in GAAP or in the application thereof, then such provision shall be
interpreted on the basis of GAAP as in effect and applied immediately before such change shall have become effective until such notice shall have been withdrawn or such provision amended in accordance herewith. Notwithstanding any other provision
contained herein, all terms of an accounting or financial nature used herein shall be construed, and all computations of amounts and ratios referred to herein shall be made (i) without giving effect to any election under Financial Accounting
Standards Board Accounting Standards Codification 825-10-25 (or any other Accounting Standards Codification or Financial Accounting Standard having a similar result or
effect) to value any Indebtedness or other liabilities of the Borrowers or any Subsidiary at “fair value,” as defined therein, (ii) without giving effect to any treatment of Indebtedness in respect of convertible debt instruments
under Financial Accounting Standards Board Accounting Standards Codification 470-20 (or any other Accounting Standards Codification or Financial Accounting Standard having a similar result or effect) to value
any such Indebtedness in a reduced or bifurcated manner as described therein, and such Indebtedness shall at all times be valued at the full stated principal amount thereof and (iii) with respect to capital leases, the amounts of Capital Lease
Obligations, any lease that was classified or accounted for as an operating lease as of (and any similar lease entered into after) the Closing Date in accordance with GAAP shall be classified or accounted for as an operating lease and not a capital
lease, even though, as a result of a change in GAAP or the Borrowers’ implementation of Financial Accounting Standards Board Accounting Standards Codification 840, such lease would be classified and accounted for as a capital lease under GAAP.

  
 21 

 ARTICLE II 

The Commitments 
 SECTION
2.01. NM Term Loans; Roll-Up Loans. Subject to compliance with the terms and conditions in this Agreement and the Bankruptcy Court Orders: 

(a) NM Term Loans. Subject to the terms and applicable conditions set forth herein (including without limitation the conditions
set forth in Article IV), each Lender agrees to make NM Term Loans to the Borrower during the Availability Period in an aggregate principal amount not to exceed such Lender’s NM Commitment; provided that (i) the aggregate
principal amount of NM Term Loans made prior to the entry of the Final Order shall not exceed the Interim Availability Amount and (ii) if for any reason the full amount of any Lender’s NM Term Loan Commitment is not fully drawn on the
expiration of the Availability Period, the undrawn portion thereof shall automatically be cancelled and shall terminate immediately and without further action. Each Borrowing shall consist of NM Term Loans made simultaneously by the Lenders in
accordance with their respective NM Commitments. Amounts borrowed under this Section 2.01(a) and repaid or prepaid may not be reborrowed. 

(b) The Roll-Up Loans. 

(i) On the Closing Date and prior to entry of the Final Order, and without any further action of any Person, each Lender having
a NM Commitment as of such date or Related Lender thereof shall be deemed to have made Loans (each, a “Roll-Up Loan”; and collectively, the
“Roll-Up Loans”) hereunder with the proceeds thereof being applied to the Prepetition Bridge Loan Obligations in respect of such Lenders’ and/or Related Lenders’ then-outstanding
Prepetition Bridge Loan Obligations on a dollar-for-dollar basis for every dollar of NM Term Loans disbursed by such Lender. 

(ii) On the date of the entry of the Final Order and without any further action of any Person, the balance of the Prepetition
Obligations outstanding as of such date held by each Lender having an NM Commitment as of such date or Related Lender thereof shall be rolled up and Roll-Up Loans shall be deemed made hereunder in such amount
by each of the Prepetition Holders holding such Prepetition Obligations. 
 SECTION 2.02. [RESERVED.] 

SECTION 2.03. Requests for Borrowings. To request a Borrowing pursuant to Section 2.01(a), the Borrower
Representative shall notify the Administrative Agent of such request by delivering a written Borrowing Request signed by the Borrower Representative not later than 9:00 a.m., New York City time, three (3) Business Days before the date of the
proposed Borrowing. Each such written Borrowing Request shall be irrevocable upon delivery. Each such written Borrowing Request shall specify the following information in compliance with this Section 2.03: 

(i) the aggregate amount of the requested Borrowing (with each requested Borrowing totaling no more than $1,000,000); 

(ii) the date of such Borrowing, which shall be a Business Day; and 

(iii) the location and number of the Borrower Representative’s account to which funds are to be disbursed, which shall
comply with the requirements of Section 2.05. 

  
 22 

 Promptly following receipt of a Borrowing Request in accordance with this Section, the Administrative Agent
shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing. For the avoidance of doubt, there shall be no more than one request for a Borrowing during any calendar week.

 SECTION 2.04. Extension of Stated Maturity Date. 

(a) Subject to the terms of this Section 2.04, the Borrowers may make a
one-time election to extend the Stated Maturity Date by written notice to the Administrative Agent (who shall promptly notify the Lenders) not earlier than 30 days and not later than 15 days prior to the
existing Stated Maturity Date (the “Existing Stated Maturity Date”). 
 (b) Each Lender, acting in its sole and individual
discretion, shall, by notice to the Administrative Agent not later than 10 days prior to the Existing Stated Maturity Date advise the Administrative Agent whether or not such Lender agrees to such extension. The election of any Lender to agree to
such extension shall not obligate any other Lender to so agree. 
 (c) The Administrative Agent shall notify the Borrowers of each
Lender’s determination under this Section no later than the date 7 days prior to the Existing Stated Maturity Date (or, if such date is not a Business Day, on the next preceding Business Day). If Lenders holding greater than 50% of the
aggregate Commitments and Credit Exposure agree to such extension, the Existing Stated Maturity Date shall automatically, and without any further action by any Person, be extended 30 days. 

(d) Notwithstanding the foregoing, the extension of the Stated Maturity Date pursuant to this Section shall not be effective unless: 

(i) no Default or Event of Default shall have occurred and be continuing on the date of such extension and after giving effect
thereto; and 
 (ii) the representations and warranties contained in this Agreement are true and correct in all material
respects on and as of the date of such extension and after giving effect thereto, as though made on and as of such date (or, if any such representation or warranty is expressly stated to have been made as of a specific date, as of such specific
date). 
 SECTION 2.05. Funding of Borrowings. 

(a) Subject to the terms and applicable conditions set forth herein (including without limitation the conditions set forth in Article
IV), each Lender shall make each Loan to be made by such Lender pursuant to Section 2.01(a) hereof on the proposed date thereof by wire transfer of immediately available funds by 2:00 p.m., New York City time, to the
account of the Administrative Agent most recently designated by it for such purpose by notice to the Lenders in an amount equal to such Lender’s Applicable Percentage. The Administrative Agent will make such Loans available to the Borrowers by
promptly crediting the amounts so received, in like funds, to the Funding Account(s). 
 (b) Unless the Administrative Agent shall have
received notice from a Lender prior to the proposed date of any Borrowing pursuant to Section 2.01(a) hereof that such Lender will not make available to the Administrative Agent such Lender’s share of such Borrowing,
the Administrative Agent may assume that such Lender has made such share available on such date in accordance with paragraph (a) of this Section and may, in reliance upon such assumption, make available to the Borrowers a corresponding amount.
In such event, if a Lender has not in fact made its share of the applicable Borrowing available to the Administrative Agent, then the applicable Lender and the Borrowers severally agree to pay to the

  
 23 

 Administrative Agent forthwith on demand such corresponding amount with interest thereon, for each day from
and including the date such amount is made available to the Borrowers to but excluding the date of payment to the Administrative Agent, at the Applicable Rate. If such Lender pays such amount to the Administrative Agent, then such amount shall
constitute such Lender’s Loan included in such Borrowing. 
 SECTION 2.06. Termination and Reduction of Commitments. 

(a) Unless previously terminated, all the NM Commitments shall terminate on the Maturity Date. 

(b) The Borrower may at any time terminate the NM Commitments upon (i) the payment in full of all outstanding Loans, together with
accrued and unpaid interest thereon, (ii) the payment in full of the accrued and unpaid fees and (iii) the payment in full of all reimbursable expenses and other Obligations together with accrued and unpaid interest thereon. 

(c) The Borrowers may from time to time reduce the NM Commitments; provided that each reduction of the NM Commitments shall be in an
amount that is an integral multiple of $500,000 and not less than $500,000. 
 (d) The Borrower Representative shall notify the
Administrative Agent of any election to terminate or reduce the NM Commitments under paragraph (b) or (c) of this Section at least three (3) Business Days prior to the effective date of such termination or reduction, specifying such
election and the effective date thereof. Promptly following receipt of any notice, the Administrative Agent shall advise the Lenders of the contents thereof. Each notice delivered by the Borrower Representative pursuant to this Section shall be
irrevocable; provided that a notice of termination of the NM Commitments delivered by the Borrower Representative may state that such notice is conditioned upon the effectiveness of other credit facilities or other transactions specified
therein, in which case such notice may be revoked by the Borrower Representative (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied. Any termination or reduction of the NM
Commitments shall be permanent. Each reduction of the NM Commitments shall be made ratably among the Lenders in accordance with their respective Applicable Percentage. 

SECTION 2.07. Repayment of Loans; Evidence of Debt. 

(a) The Borrowers hereby unconditionally promise to pay to the Administrative Agent for the account of each Lender the then unpaid principal
amount of each Loan, together with all accrued interest, fees and expenses payable hereunder, on the Maturity Date. 
 (b) Each Lender shall
maintain in accordance with its usual practice an account or accounts evidencing the Indebtedness of the Borrowers to such Lender resulting from each Loan made by such Lender, including the amounts of principal and interest payable and paid to such
Lender from time to time hereunder. 
 (c) The Administrative Agent shall maintain accounts in which it shall record (i) the amount of
each Loan made hereunder and the Type thereof, (ii) the amount of any principal or interest due and payable or to become due and payable from the Borrowers to each Lender hereunder and (iii) the amount of any sum received by the
Administrative Agent hereunder for the account of the Lenders and each Lender’s share thereof. 
 (d) The entries made in the accounts
maintained pursuant to paragraph (b) or (c) of this Section shall be prima facie evidence of the existence and amounts of the obligations recorded therein; provided that the failure of any Lender or the Administrative Agent to
maintain such accounts or any error therein shall not in any manner affect the Obligations. 

  
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 (e) Any Lender may request that Loans made by it be evidenced by a promissory note. In such
event, the Borrowers shall prepare, execute and deliver to such Lender a promissory note payable to the order of such Lender (or, if requested by such Lender, to such Lender and its registered assigns) and in the form attached hereto as Exhibit
F. Thereafter, the Loans evidenced by such promissory note and interest thereon shall at all times (including after assignment pursuant to Section 9.04) be represented by one or more promissory notes in such form
payable to the order of the payee named therein (or, if such promissory note is a registered note, to such payee and its registered assigns). 

SECTION 2.08. Prepayment of Loans. 

(a) The Borrowers shall have the right at any time and from time to time to prepay any Borrowing in whole, but not in part, together with all
accrued interest, fees and premiums. 
 (b) In the event and on such occasion that the Aggregate Credit Exposure (exclusive of any
capitalized interest) exceeds the aggregate Commitments, the Borrowers shall prepay the Loans. 
 (c) In the event and on each occasion that
any Net Proceeds are received by or on behalf of any Loan Party or any Subsidiary in respect of any Prepayment Event, the Borrowers shall, immediately after such Net Proceeds are received by any Loan Party or Subsidiary, apply an aggregate amount
equal to 100% of such Net Proceeds as provided in Section 2.13(b)(i) hereof. 
 (d) The Borrower Representative
shall notify the Administrative Agent by telephone (confirmed by fax) of any prepayment under this Section not later than 11:00 a.m., New York City time, three (3) Business Days before the date of prepayment. Each such notice shall be
irrevocable and shall specify the prepayment date and the principal amount of each Borrowing or portion thereof to be prepaid; provided that if a notice of prepayment is given in connection with a conditional notice of termination of the
Commitments as contemplated by Section 2.06, then such notice of prepayment may be revoked if such notice of termination is revoked in accordance with Section 2.06. Promptly following receipt of
any such notice, the Administrative Agent shall advise the Lenders of the contents thereof. Each partial prepayment of any Borrowing shall be in minimum amounts of at least $1,000,000 and multiples $1,000,000 in excess thereof (or, if less, the
outstanding principal balance of such Borrowing), except as necessary to apply fully the required amount of a mandatory prepayment. Each prepayment of Loans shall be applied ratably to the Loans. Prepayments shall be accompanied by accrued interest
to the extent required by Section 2.09. 
 SECTION 2.09. Interest. 

(a) The Loans shall bear interest at the Applicable Rate. 

(b) Notwithstanding the foregoing, during the occurrence and continuance of an Event of Default, the Administrative Agent or the Required
Lenders may, at their option, by notice to the Borrower Representative (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 9.02 requiring the consent of “each
Lender directly affected thereby” for reductions in interest rates), declare that (i) all Loans shall bear interest at 2% plus the Applicable Rate or (ii) in the case of any other amount outstanding hereunder, such amount shall accrue
at 2% plus the Applicable Rate. 
 (c) Accrued interest on each Loan shall be paid-in-kind by the Company in arrears on each Interest Payment Date by adding the then amount of such accrued interest to the outstanding principal balance of such Loan, and after such Interest Payment Date,
interest shall accrue as provided hereunder on the principal balance of such for such Loan as so increased; provided that in the event of any repayment or prepayment of any Loan, accrued interest on the principal amount repaid or prepaid
shall be payable in cash on the date of such repayment or prepayment. 

  
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 (d) All interest hereunder shall be computed on the basis of a year of 365 days (or 366 days
in a leap year), and in each case shall be payable for the actual number of days elapsed (including the first day but excluding the last day). 

SECTION 2.10. Fees. 
 (a)
Commitment Fee. The Borrower agrees to pay to each Lender (other than any Defaulting Lender), through the Administrative Agent, on or before the date that is three (3) Business Days after the last Business Day of each month (and the date
that is three (3) Business Days after the last day of the Availability Period), a commitment fee (the “NM Commitment Fee”) on the daily average unused amount of the NM Commitments (whether or not then available) of such Lender
during the preceding month at the rate equal to 0.5% per annum, payable in kind. The NM Commitment Fee due to each Lender shall commence to accrue on the Closing Date and shall cease to accrue on the last day of the Availability Period. 

(b) The Borrower agrees to pay the following fees in respect of the NM Term Loans and NM Commitments (the “Lender Fees”):

 (i) Upfront Fee. To the Administrative Agent, for the account of each Lender, an upfront fee (the “Upfront
Fee”), payable in kind, in an amount equal to 2.00% of the aggregate principal amount of such Lender’s NM Commitments on the Closing Date, such fee to be earned, due and payable on the Closing Date. 

(ii) Exit Fee. To the Administrative Agent, for the account of each Lender, an exit fee (the “Exit
Fee”), payable in cash, in an amount equal to 1.50% of the aggregate principal amount of such Lender’s NM Commitment as of the Closing Date, such fee to be earned, due and payable on the earlier of (a) the Termination Date (other
than in connection with the sale of the Subject Assets to the DIP Lender) or (b) repayment in full or in part (including upon any refinancing or replacement of the Loans or any optional or mandatory prepayment of Loans (in whole or in part)
pursuant to Section 2.05(a) or Section 2.05(b)) of all Obligations (other than inchoate indemnification obligations). 

SECTION 2.11. [RESERVED]. 

SECTION 2.12. Taxes. 

(a) Withholding Taxes; Gross-Up; Payments Free of Taxes. Any and all payments by or on account
of any obligation of any Loan Party under any Loan Document shall be made without deduction or withholding for any Taxes, except as required by applicable law. If any applicable law (as determined in the good faith discretion of an applicable
withholding agent) requires the deduction or withholding of any Tax from any such payment by a withholding agent, then the applicable withholding agent shall be entitled to make such deduction or withholding and shall timely pay the full amount
deducted or withheld to the relevant Governmental Authority in accordance with applicable law and, if such Tax is an Indemnified Tax, then the sum payable by the applicable Loan Party shall be increased as necessary so that after such deduction or
withholding has been made (including such deductions and withholdings applicable to additional sums payable under this Section 2.12), the applicable Recipient receives an amount equal to the sum it would have received had
no such deduction or withholding been made. 

  
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 (b) Payment of Other Taxes by Loan Parties. The Loan Parties shall timely pay to the
relevant Governmental Authority in accordance with applicable law, or at the option of the Administrative Agent timely reimburse it for, Other Taxes. 

(c) Evidence of Payments. As soon as practicable after any payment of Taxes by any Loan Party to a Governmental Authority pursuant to
this Section 2.12, such Loan Party shall deliver to the Administrative Agent the original or a certified copy of a receipt issued by such Governmental Authority evidencing such payment, a copy of the return reporting such
payment, or other evidence of such payment reasonably satisfactory to the Administrative Agent. 
 (d) Indemnification by the Loan
Parties. The Loan Parties shall jointly and severally indemnify each Recipient, within ten (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) payable or paid by such Recipient or required to be withheld or deducted from a payment to such Recipient and any reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified
Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to the Borrowers by a Lender (with a copy to the Administrative Agent), or by the
Administrative Agent on its own behalf or on behalf of a Lender, shall be conclusive absent manifest error. 
 (e) Indemnification by the
Lenders. Each Lender shall severally indemnify the Administrative Agent, within ten (10) days after demand therefor, for (i) any Indemnified Taxes attributable to such Lender (but only to the extent that any Loan Party has not already
indemnified the Administrative Agent for such Indemnified Taxes and without limiting the obligation of the Loan Parties to do so), (ii) any Taxes attributable to such Lender’s failure to comply with the provisions of
Section 9.04(c) relating to the maintenance of a Participant Register and (iii) any Excluded Taxes attributable to such Lender, in each case, that are payable or paid by the Administrative Agent in connection with any
Loan Document, and any reasonable expenses arising therefrom or with respect thereto, whether or not such Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or
liability delivered to any Lender by the Administrative Agent shall be conclusive absent manifest error. Each Lender hereby authorizes the Administrative Agent to set off and apply any and all amounts at any time owing to such Lender under any Loan
Document or otherwise payable by the Administrative Agent to such Lender from any other source against any amount due to the Administrative Agent under this paragraph (e). 

(f) Status of Lenders. 

(i) Any Lender that is entitled to an exemption from or reduction of withholding Tax with respect to payments made under any
Loan Document shall deliver to the Borrower Representative and the Administrative Agent, at the time or times reasonably requested by any Borrower or the Administrative Agent, such properly completed and executed documentation reasonably requested
by such 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 Lender, if reasonably requested by any Borrower or the Administrative Agent, shall deliver
such other documentation prescribed by applicable law or reasonably requested by such Borrower or the Administrative Agent as will enable the Borrowers or the Administrative Agent to determine whether or not such Lender is subject to backup
withholding or information reporting requirements. Notwithstanding anything to the contrary in the preceding two sentences, the completion, execution and submission of such documentation (other than such documentation set forth in
Section 2.12(f)(ii)(A), (ii)(B) and (ii)(D) below) shall not be required if in the Lender’s reasonable judgment such completion, execution or submission would subject such Lender to any material unreimbursed
cost or expense or would materially prejudice the legal or commercial position of such Lender. 

  
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 (ii) Without limiting the generality of the foregoing, in the event that any
Borrower is a U.S. Person: 
 (A) any Lender that is a U.S. Person shall deliver to the Borrower Representative and the
Administrative Agent on or prior to the date on which such Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower Representative or the Administrative Agent), executed originals of
IRS Form W-9 certifying that such 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 Representative and the
Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the
Borrower Representative 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 U.S. is a party (x) with respect to payments of interest under any Loan Document, executed originals of IRS Form W-8BEN or W-8BEN-E, as applicable (or successor form), 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 W-8BEN-E, as
applicable (or successor form), 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) in the case of a Foreign Lender claiming that its extension of credit will generate U.S. effectively connected income,
executed originals 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 B-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 any 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 originals of IRS Form W-8BEN or
W-8BEN-E , as applicable (or successor form); or 

(4) to the extent a Foreign Lender is not the Beneficial Owner, executed originals of IRS Form
W-8IMY, accompanied by IRS Form W- 8ECI, IRS Form W-8BEN (or successor form), IRS Form W-8BEN-E (or successor form), a U.S. Tax Compliance Certificate substantially in the form of Exhibit B-2 or Exhibit
B-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
B-4 on behalf of each such direct and indirect partner; 

  
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 (C) any Foreign Lender shall, to the extent it is legally entitled to do so,
deliver to the Borrower Representative and the Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time
thereafter upon the reasonable request of the Borrower Representative or the Administrative Agent), executed originals 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 Representative or the Administrative Agent to determine the withholding or deduction required to be made; and 

(D) if a payment made to a Lender under any Loan Document would be subject to U.S. federal withholding Tax imposed by FATCA if
such Lender were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as applicable), such Lender shall deliver to the Borrower Representative and the
Administrative Agent at the time or times prescribed by law and at such time or times reasonably requested by the Borrower Representative 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 Representative or the Administrative Agent as may be necessary for the Borrower Representative and the Administrative Agent to comply
with their obligations under FATCA and to determine that such Lender has complied with such Lender’s obligations under FATCA or to determine the amount to deduct and withhold from such payment. Solely for purposes of this clause (D),
“FATCA” shall include any amendments made to FATCA after the date of this Agreement. 
 Each 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 Representative and the Administrative Agent in writing of its legal inability
to do so. 
 (g) Treatment of Certain Refunds. If any party determines, in its sole discretion exercised in good faith, that it has
received a refund of any Taxes as to which it has been indemnified pursuant to this Section 2.12 (including by the payment of additional amounts pursuant to this Section 2.10), it shall pay to the
indemnifying party an amount equal to such refund (but only to the extent of indemnity payments made under this Section 2.12 with respect to the Taxes giving rise to such refund), net of all
out- of-pocket expenses (including Taxes) of such indemnified party and without interest (other than any interest paid by the relevant Governmental Authority with
respect to such refund). Such indemnifying party, upon the request of such indemnified party, shall repay to such indemnified party the amount paid over pursuant to this paragraph (g) (plus any penalties, interest or other charges imposed by the
relevant Governmental Authority) in the event that such indemnified party is required to repay such refund to such Governmental Authority. Notwithstanding anything to the contrary in this paragraph (g), in no event will the indemnified party be
required to pay any amount to an indemnifying party pursuant to this paragraph (g) the payment of which would place the indemnified party in a less favorable net after-Tax position than the indemnified
party 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 giving rise to such refund had never been paid.
This paragraph (g) shall not be construed to require any indemnified party to make available its Tax returns (or any other information relating to its Taxes that it deems confidential) to the indemnifying party or any other Person. 

  
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 (h) Survival. Each party’s obligations under this
Section 2.12 shall survive the resignation or replacement of the Administrative Agent or any assignment of rights by, or the replacement of, a Lender, the termination of the Commitments and the repayment, satisfaction or
discharge of all obligations under any Loan Document. 
 (i) Defined Terms. For purposes of this
Section 2.12, the term “applicable law” includes FATCA. 
 (j) Certain FATCA Matters. For
purposes of determining withholding Taxes imposed under FATCA, from and after the Closing Date, the Borrowers and the Administrative Agent shall treat (and the Lenders hereby authorize the Administrative Agent to treat) this Agreement and the Loans
as not qualifying as “grandfathered obligations” within the meaning of Treasury Regulation Section 1.1471- 2(b)(2)(i) or 1.1471-2T(b)(2)(i). 

SECTION 2.13. Payments Generally; Allocation of Proceeds; Sharing of Set-offs. 

(a) The Borrowers shall make each payment required to be made by them hereunder (whether of principal, interest, fees or of amounts payable
under Section 2.10, or otherwise) prior to 2:00 p.m., New York City time, on the date when due, in immediately available funds, without set off or counterclaim. Any amounts received after such time on any date may, in the
discretion of the Administrative Agent, be deemed to have been received on the next succeeding Business Day for purposes of calculating interest thereon. All such payments shall be made to the Administrative Agent at its offices set forth in
Section 9.01(a)(ii), and except that payments pursuant to Sections 2.10 and 9.03 shall be made directly to the Persons entitled thereto. The Administrative Agent shall distribute any such payments received by
it for the account of any other Person to the appropriate recipient promptly following receipt thereof. If any payment hereunder shall be due on a day that is not a Business Day, the date for payment shall be extended to the next succeeding Business
Day, and, in the case of any payment accruing interest, interest thereon shall be payable for the period of such extension. All payments hereunder shall be made in dollars. 

(b) Any proceeds of Collateral received by the Administrative Agent (whether from the Borrowers or from any other Person) that do not
constitute a specific payment of principal, interest, fees or other sum payable under any other provision of the Loan Documents (which shall be applied as specified by the Borrower Representative) and that (i) are Net Proceeds of a Prepayment
Event pursuant to Section 2.08(c) hereof occurring prior to delivery of a Carve-Out Trigger Notice or (ii) are received after delivery of a
Carve-Out Trigger Notice, shall be applied ratably, as follows: (A) first, to fund the Carve-Out as expressly provided in the Bankruptcy Court Orders
(including, as provided in the Bankruptcy Court Orders, to fund any portion of the Carve-Out related to professional fees that have been incurred and are included for the applicable period in the Approved
Budget but are not yet approved for payment by the Bankruptcy Court, to the Carve-Out Escrow Account, and amounts deposited to such account may be applied to pay such fees as are approved by the Bankruptcy
Court); (B) second, to pay any fees, indemnities, or expense reimbursements including amounts then due to the Administrative Agent from the Borrowers; (C) third, to pay any fees or expense reimbursements then due to the Lenders
from the Borrowers; (D) fourth, to pay interest then due and payable on the Loans ratably; (E) fifth, to prepay principal on the Loans, ratably; (F) sixth, to the payment of any other Secured Obligation due to the
Administrative Agent or any Secured Party from the Borrowers or any other Loan Party or Subsidiary; and (G) seventh, (1) in the case of any remaining unapplied Net Proceeds of a Prepayment Event that occurs prior to delivery of a Carve-Out Trigger Notice, if such Net Proceeds would not be sufficient to pay the Prepetition Obligations in full and no Event of 

  
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 Default has occurred and is continuing, then such remaining Net Proceeds shall be held by the Borrowers
until the earliest to occur of (x) the next Prepayment Event, (y) an Event of Default and (z) the Maturity Date, and on such earliest date any such undisbursed cash Collateral again shall be applied as provided in clauses
(A) through (G) of this Section 2.13(b) with any other proceeds of Collateral then being so applied, and prior to such earliest date such cash Collateral shall be applied by the Borrowers in lieu of Loans
requested by the Borrower hereunder, in each case, subject to the Approved Budget and all the other terms and conditions of this Agreement, or (2) otherwise, to the Prepetition Obligations as provided in the Prepetition Note Documents. The
Administrative Agent and the Lenders shall have the continuing and exclusive right to apply and reverse and reapply any and all such proceeds and payments described in clauses (B) through (G) to any portion of the Secured
Obligations. 
 (c) At the election of the Administrative Agent, all payments of principal, interest, fees, premiums, reimbursable expenses
(including, without limitation, all reimbursement for fees, costs and expenses pursuant to Section 9.03), and other sums payable under the Loan Documents, may be paid from the proceeds of Borrowings made hereunder, whether
made following a request by the Borrower Representative pursuant to Section 2.03 or a deemed request as provided in this Section or may be deducted from any deposit account of the Borrowers maintained with the
Administrative Agent. Each Borrower hereby irrevocably authorizes (i) the Administrative Agent to make a Borrowing for the purpose of paying each payment of principal, interest and fees as it becomes due hereunder or any other amount due under
the Loan Documents and agrees that all such amounts charged shall constitute Loans, and that all such Borrowings shall be deemed to have been requested pursuant to Sections 2.03, and (ii) the Administrative Agent to charge any deposit
account of the Borrowers maintained with the Administrative Agent for each payment of principal, interest and fees as it becomes due hereunder or any other amount due under the Loan Documents. 

(d) If, except as otherwise expressly provided herein, any Lender shall, by exercising any right of set off or counterclaim or otherwise,
obtain payment in respect of any principal of or interest on any of its Loans resulting in such Lender receiving payment of a greater proportion of the aggregate amount of its Loans and accrued interest thereon than the proportion received by any
other similarly situated Lender, then the Lender receiving such greater proportion shall purchase (for cash at face value) participations in the Loans of other Lenders to the extent necessary so that the benefit of all such payments shall be shared
by all such Lenders ratably in accordance with the aggregate amount of principal of and accrued interest on their respective Loans; 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 (ii) the provisions of this paragraph shall not be construed to apply to any payment made by
the Borrowers pursuant to and in accordance with the express terms of this Agreement or any payment obtained by a Lender as consideration for the assignment of or sale of a participation in any of its Loans to any assignee or participant, other than
to the Borrowers or any Subsidiary or Affiliate thereof (as to which the provisions of this paragraph shall apply). Each Borrower consents to the foregoing and agrees, to the extent it may effectively do so under applicable law, that any Lender
acquiring a participation pursuant to the foregoing arrangements may exercise against any Borrower rights of set-off and counterclaim with respect to such participation as fully as if such Lender were a direct
creditor of a Borrower in the amount of such participation. 
 (e) Unless the Administrative Agent shall have received notice from the
Borrower Representative prior to the date on which any payment is due to the Administrative Agent for the account of the relevant Lenders hereunder that the Borrowers will not make such payment, the Administrative Agent may assume that the Borrowers
have made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the relevant Lenders, as the case may be, the amount due. In such event, if the Borrowers have not in fact made such payment, then
each of the relevant Lenders, as the case may be, severally agrees to repay to the Administrative Agent forthwith on demand the amount so 

  
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 distributed to such Lender 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 Effective Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank
compensation. 
 (f) If any Lender shall fail to make any payment required to be made by it pursuant to
Section 2.05(b), 2.13(e) or 9.03(c), then the Administrative Agent may, in its discretion (notwithstanding any contrary provision hereof), (i) apply any amounts thereafter received by the Administrative Agent
for the account of such Lender to satisfy such Lender’s obligations hereunder until all such unsatisfied obligations are fully paid and/or (ii) hold any such amounts in a segregated account as cash collateral for, and application to, any
future funding obligations of such Lender hereunder. Application of amounts pursuant to (i) and (ii) above shall be made in such order as may be determined by the Administrative Agent in its discretion. 

(g) The Administrative Agent may from time to time provide the Borrower Representative with account statements or invoices with respect to any
of the Secured Obligations (the “Statements”). The Administrative Agent is under no duty or obligation to provide Statements, which, if provided, will be solely for the Borrower’s convenience. Statements may contain estimates
of the amounts owed during the relevant billing period, whether of principal, interest, fees or other Secured Obligations. If the Borrowers pay the full amount indicated on a Statement on or before the due date indicated on such Statement, the
Borrowers shall not be in default of payment with respect to the billing period indicated on such Statement; provided, that acceptance by the Administrative Agent, on behalf of the Lenders, of any payment that is less than the total amount actually
due at that time (including but not limited to any past due amounts) shall not constitute a waiver of the Administrative Agent’s or the Lenders’ right to receive payment in full at another time. 

SECTION 2.14. Mitigation Obligations; Replacement of Lenders. 

(a) If any Borrower is required to pay any Indemnified Taxes or additional amounts to any Lender or any Governmental Authority for the account
of any Lender pursuant to Section 2.12, then such Lender shall use reasonable efforts to designate a different lending office for funding or booking its Loans hereunder or to assign its rights and obligations hereunder to
another of its offices, branches or affiliates, if, in the judgment of such Lender, such designation or assignment (i) would eliminate or reduce amounts payable pursuant to Section 2.12, in the future and
(ii) would not subject such Lender to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender. The Borrower hereby agrees to pay all reasonable costs and expenses incurred by any Lender in connection with any
such designation or assignment. 
 (b) If any Borrower is required to pay any Indemnified Taxes or additional amounts to any Lender or any
Governmental Authority for the account of any Lender) pursuant to Section 2.12, or if any Lender becomes a Defaulting Lender, then the Borrowers may, at their sole expense and effort, upon notice to such Lender and the
Administrative Agent, require such Lender to assign and delegate, without recourse (in accordance with and subject to the restrictions contained in Section 9.04), all its interests, rights (other than its existing rights to
payments pursuant to Section 2.12) and obligations under this Agreement and other Loan Documents to an assignee that shall assume such obligations (which assignee may be another Lender, if a Lender accepts such assignment);
provided that (i) the Borrower Representative shall have received the prior written consent of the Administrative Agent, which consent shall not unreasonably be withheld, (ii) such Lender shall have received payment of an amount
equal to the outstanding principal of its Loans, accrued interest thereon, accrued fees and all other amounts payable to it hereunder, 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) and (iii) in the case of any such assignment resulting from a claim for payments 

  
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 required to be made pursuant to Section 2.12, such assignment will result in a
reduction in such compensation or payments. A Lender shall not be required to make any such assignment and delegation if, prior thereto, as a result of a waiver by such Lender or otherwise, the circumstances entitling the Borrowers to require such
assignment and delegation cease to apply. 
 SECTION 2.15. Defaulting Lenders. Notwithstanding any provision of this Agreement to the
contrary, if any Lender becomes a Defaulting Lender, then the following provisions shall apply for so long as such Lender is a Defaulting Lender, such Defaulting Lender shall not have the right to vote on any issue on which voting is required (other
than to the extent expressly provided in Section 9.02(b)) and the Commitment and Credit Exposure of such Defaulting Lender shall not be included in determining whether the Required Lenders have taken or may take any action
hereunder or under any other Loan Document; provided that, except as otherwise provided in Section 9.02, this clause (b) shall not apply to the vote of a Defaulting Lender in the case of an amendment, waiver or other
modification requiring the consent of such Lender or each Lender directly affected thereby. 
 SECTION 2.16. Returned Payments. If,
after receipt of any payment which is applied to the payment of all or any part of the Obligations (including a payment effected through exercise of a right of setoff), the Administrative Agent or any Lender is for any reason compelled to surrender
such payment or proceeds to any Person because such payment or application of proceeds is invalidated, declared fraudulent, set aside, determined to be void or voidable as a preference, impermissible setoff, or a diversion of trust funds, or for any
other reason (including pursuant to any settlement entered into by the Administrative Agent or such Lender in its discretion), then the Obligations or part thereof intended to be satisfied shall be revived and continued and this Agreement shall
continue in full force as if such payment or proceeds had not been received by the Administrative Agent or such Lender. The provisions of this Section 2.16 shall be and remain effective notwithstanding any contrary action
which may have been taken by the Administrative Agent or any Lender in reliance upon such payment or application of proceeds. The provisions of this Section 2.16 shall survive the termination of this Agreement. 

SECTION 2.17. Security and Priorities. All of the Obligations shall, subject to the Carve- Out and pursuant to and to the extent
provided in the Interim Order and the Final Order, at all times: 
 (a) Pursuant to Section 364(c)(1) of the Bankruptcy Code, constitute
allowed superpriority administrative expense claims against the Borrowers (without the need to file any proof of claim) with priority over any and all claims against the Borrowers, now existing or hereafter arising, of any kind whatsoever,
including, without limitation, all administrative expenses of the kind specified in Sections 503(b) and 507(b) of the Bankruptcy Code and any and all administrative expenses or other claims arising under Sections 105, 326, 328, 330, 331, 364, 365,
503(b), 506(c), 507(a), 507(b), 726, 1113 or 1114 of the Bankruptcy Code (including any adequate protection obligations), whether or not such expenses or claims may become secured by a judgment lien or other
non-consensual lien, levy or attachment, which allowed claims (the “DIP Superpriority Claims”) shall for purposes of Section 1129(a)(9)(A) of the Bankruptcy Code be considered
administrative expenses allowed under section 503(b) of the Bankruptcy Code, and which DIP Superpriority Claims shall be payable from and have recourse to all pre- and post-petition property of the Borrowers
and all proceeds thereof (excluding Avoidance Actions but including, effective upon entry of the Final Order, Avoidance Proceeds), subject only to the Liens thereon and the Carve-Out. The DIP Superpriority
Claims shall be entitled to the full protection of Section 364(e) of the Bankruptcy Code in the event that the Interim Order (or, after entry thereof, the Final Order) or any provision thereof is vacated, reversed, amended or otherwise
modified, on appeal or otherwise. 

  
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 (b) Pursuant to Section 364(c)(2) of the Bankruptcy Code, be secured by a valid,
perfected, continuing, enforceable, non-avoidable first priority security interest and lien on all present and after acquired property of the Debtors, wherever located, not subject to a lien or security
interest as of the Petition Date other than property constituting Excluded Property. 
 (c) Pursuant to Section 364(c)(3) of the
Bankruptcy Code, be secured by a valid, perfected, continuing, enforceable, non-avoidable security interest and lien on the Collateral of each Borrower, to the extent that such Collateral, as applicable, is
subject to (x) valid, perfected and unavoidable liens in favor of third parties that were in existence and permitted under the Prepetition Bridge Loan immediately prior to the Petition Date, or (y) valid and unavoidable liens in favor of
third parties that were in existence and permitted under the Prepetition Bridge Loan immediately prior to the Petition Date that were perfected subsequent to the Petition Date as permitted by Section 546(b) of the Bankruptcy Code, subject as to
priority to Prepetition Prior Liens; provided that this clause (c) shall not apply to the Primed Liens, which existing liens will be primed by the liens described in clause (d) below, as applicable. 

(d) Pursuant to Section 364(d)(1) of the Bankruptcy Code, be secured by a perfected first priority priming security interest and lien on
the Collateral of each Borrower (the “Priming Liens”) to the extent that such Collateral is subject to the Primed Liens, which Priming Liens pursuant to this clause (d) shall, for the avoidance of doubt, be senior to (x) any
current and future liens granted on such property of (i) the Prepetition Bridge Note Holder under the Prepetition Bridge Note (the “Prepetition Bridge Note Primed Parties”); (ii) the Prepetition First Lien Lenders under
the Prepetition First Lien Notes and the other “secured parties” referred to therein (the “Prepetition First Lien Primed Parties”), (iii) the holders of Second Lien Notes and the other “secured parties” under the
Second Lien Notes Indenture and related security agreements (the “Second Lien Notes Primed Parties”), and (iv) any liens granted to provide adequate protection in respect of any of the Primed Liens; provided that the liens
pursuant to this clause (d) shall be subject as to priority only to (x) the Carve-Out and (y) Permitted Liens on cash collateral securing Cash Management Agreements with a Cash Management Bank.

 Notwithstanding anything to the contrary in this Section 2.17, with respect to any Collateral consisting of the proceeds of any
sale, transfer or other disposition of Collateral, the relative priorities of the liens securing Obligations with respect to the NM Term Loans and Obligations with respect to the Roll-Up Loans shall be
preserved in all respects, and (a) the liens securing Roll-Up Loans shall be entitled to the priorities otherwise applicable to the liens securing NM Term Loans and (b) the liens securing Term Loans
shall be entitled to the priorities otherwise applicable to the liens securing Roll-Up Loans, if any. 

ARTICLE III 
 Representations
and Warranties 
 Each Loan Party represents and warrants to the Lenders that (and where applicable, agrees): 

SECTION 3.01. Organization; Powers. Each Loan Party (a) is duly organized, validly existing and in good standing under the laws of
the jurisdiction of its incorporation or formation (other than Devicescape Holdings, Inc., IPASS Inc., IPASS IP LLC, and Pareteum North America Corp., which are not in good standing as of the Closing Date), (b) subject to the Bankruptcy Code, the
Bankruptcy Rules, entry of the Interim Order or the Final Order, as applicable, and such other orders as have been or may hereafter be entered by the Bankruptcy Court in the Chapter 11 Cases, has the power and authority to own its properties and to
carry on its business as now being conducted, (c) is duly qualified to do business in every jurisdiction wherein the conduct of its business or the ownership of its properties are such as to require such qualification except those jurisdictions
in which the failure to be so qualified could not reasonably be expected to have a Material Adverse Effect and except where the failure to so qualify is the result of the status of the Loan Parties as debtors-in-possession in the Chapter 11 Cases, and (d) has the power to execute, deliver and perform each of the Loan Documents to which it is a party. 

  
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 SECTION 3.02. Authorization; Enforceable Obligations. Subject to entry of the Interim
Order (or the Final Order, as applicable), the execution, delivery and performance by each Loan Party of this Agreement, and the other Loan Documents to which it is a party and the borrowings and the other extensions of credit to the Borrowers
hereunder, (a) have been duly authorized by all requisite corporate or limited liability company action, (b) will not violate (i) any provision of law applicable to any Loan Party, any rule or regulation of any Governmental Authority
applicable to any Loan Party or (ii) the certificate of incorporation, by-laws, or other organizational documents, as applicable, of any Loan Party or (iii) any order of any court or other
Governmental Authority binding on any Loan Party or any indenture, agreement or other instrument to which any Loan Party is a party, or by which any Loan Party or any of their respective properties are bound, and (c) will not be in conflict
with, result in a breach of or constitute (with due notice and/or lapse of time) a default under, any such indenture, agreement or other instrument, or result in the creation or imposition of any Lien, of any nature whatsoever upon any of the
property or assets of any Loan Party other than as contemplated by this Agreement or the other Loan Documents. This Agreement and each other Loan Document to which each Loan Party is a party, subject to entry of the Interim Order (or the Final
Order, as applicable), constitutes a legal, valid and binding obligation of such Loan Party enforceable, as the case may be, against such Loan Party in accordance with its terms except to the extent that enforcement may be limited by applicable
bankruptcy, reorganization, moratorium, insolvency and similar laws affecting creditors’ rights generally or by equitable principles of general application, regardless of whether considered in a proceeding in equity or at law. 

SECTION 3.03. Financial Statements. The Loan Parties have heretofore furnished to the Administrative Agent and each Lender the audited
consolidated balance sheet of the Company and its Subsidiaries and the related audited consolidated statements of income, retained earnings and cash flow of the Company and its Subsidiaries audited by the Company’s independent certified public
accountants, for the fiscal year ended December 31, 2020. Such financial statements were prepared in conformity with GAAP, applied on a consistent basis, and fairly present the financial condition and results of operations of the Company and
its Subsidiaries as of the date of such financial statements and for the periods to which they relate. As of the Closing Date, other than obligations and liabilities arising in the ordinary course of business and obligations under the Prepetition
Obligations, since December 31, 2020, there are no material obligations or liabilities contingent or otherwise, of the Company or its Subsidiaries which are not reflected or disclosed on such audited statements, in the Schedules to this Agreement or
in the Bankruptcy Schedules (other than obligations of the Company and any of its Subsidiaries incurred in the ordinary course of business and the Obligations hereunder). 

SECTION 3.04. Title to Properties; Intellectual Property. 

(a) The Company and each of its Subsidiaries has good title to its respective properties and assets, except for such properties and assets as
have been disposed of in accordance with Section 6.04. Each of the Loan Parties and each Subsidiary has good and indefeasible title to, or valid leasehold interests in, all of its real and personal property, free and clear
of all Liens other than Permitted Liens. 
 (b) Each Loan Party and each Subsidiary owns, or is licensed to use, all Intellectual Property
necessary to its business as currently conducted, a correct and complete list of the owned Intellectual Property (described in clause (i) of such definition), as of the date of this Agreement, is set forth on Schedule 3.04. Such
Intellectual Property is valid, subsisting, unexpired (where registered) and enforceable and has not been abandoned or adjudged invalid or unenforceable. There are no assertions or claims challenging the validity of any of the foregoing, and the
business of each Loan Party and each Subsidiary as now conducted does not, to the Knowledge of these Loan Parties, infringe in any material respect the rights of any other Person. 

  
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 SECTION 3.05. Litigation. Except as set forth on Schedule 3.05 hereto and the
Chapter 11 Cases, (a) there are no actions, suits or proceedings (whether or not purportedly on behalf of any Borrower or any of its Subsidiaries) pending or, to the knowledge of each Loan Party, threatened against any Borrower or any of its
Subsidiaries at law or in equity or before or by any Governmental Authority, which involve any of the transactions contemplated herein or which, if adversely determined against any Borrower or any of its Subsidiaries, could reasonably be expected to
have a Material Adverse Effect; and (b) neither the Borrowers nor any of their Subsidiaries is in default with respect to any judgment, writ, injunction, decree, rule or regulation of any Governmental Authority which default could reasonably be
expected to have a Material Adverse Effect. 
 SECTION 3.06. Labor Matters. As of the Closing Date, there are no strikes, lockouts or
slowdowns against any Loan Party or any Subsidiary pending or, to the knowledge of any Loan Party, threatened. Except for violations that could not reasonably be expected to have a Material Adverse Effect, the hours worked by and payments made to
employees of the Loan Parties and their Subsidiaries have not been in violation of the Fair Labor Standards Act or any other applicable federal, state, local or foreign law dealing with such matters. Except as could not reasonably be expected to
have a Material Adverse Effect, all payments due from any Loan Party or any Subsidiary, or for which any claim may be made against any Loan Party or any Subsidiary, on account of wages and employee health and welfare insurance and other benefits,
have been paid or accrued as a liability on the books of such Loan Party or such Subsidiary. 
 SECTION 3.07. Compliance with ERISA.
Except as could not reasonably be expected to have a Material Adverse Effect: (i) each Plan is in compliance with ERISA; (ii) no Multiemployer Plan is insolvent or in reorganization; (iii) no Plan has failed to satisfy the
“minimum funding standard” (as defined in Section 412 of the Code or Section 302 of ERISA); (iv) neither the Borrower, any of its Subsidiaries, nor any ERISA Affiliate has incurred any material liability to or on account of a
Plan or Multiemployer Plan pursuant to Section 515, 4062, 4063, 4064, 4201 or 4204 of ERISA or expects to incur any liability under any of the foregoing sections on account of the prior termination of participation in, or contributions to, any
such Plan or Multiemployer Plan; (v) no proceedings have been instituted to terminate any Plan; and (vi) no lien imposed under the Code or ERISA on the assets of the Borrower, any of its Subsidiaries or any of its ERISA Affiliates exists
or is likely to arise on account of any Plan. Except to the extent that any Lender uses “plan assets” (within the meaning of 29 CFR § 2510.3-101, as modified by Section 3(42) of ERISA) of
one or more Benefit Plans in connection with the Loans, or the Commitments, the Borrower is not nor will be using “plan assets” (within the meaning of 29 CFR § 2510.3-101, as modified by
Section 3(42) of ERISA) of one or more Benefit Plans in connection with the Loans or the Commitments. 
 SECTION 3.08. Federal
Reserve Regulations; Use of Proceeds. 
 (a) Neither the Borrowers nor any of their Subsidiaries is engaged principally in, nor has as
one of its important activities, the business of extending credit for the purpose of purchasing or carrying any “margin stock” (within the meaning of Regulation U of the Board, as amended from time to time). 

(b) No part of the proceeds of any Loan and no other extension of credit hereunder will be used, whether directly or indirectly, and whether
immediately, incidentally or ultimately, (i) to purchase or to carry margin stock or to extend credit to others for the purpose of purchasing or carrying margin stock, or to refund indebtedness originally incurred for such purposes, or
(ii) for any purpose which violates or is inconsistent with the provisions of Regulation T, U, or X. 

  
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 SECTION 3.09. Approval. No registration with or consent or approval of, or other
action by, any Governmental Authority or any other Person is required in connection with the execution, delivery and performance of this Agreement by the Loan Parties, or with the execution and delivery of other Loan Documents to which it is a party
or with respect to the Loan Parties, the Borrowings and each other extension of credit hereunder, other than (a) registration, consents and approvals received prior to the date hereof and disclosed to the Lenders and which are in full force and
effect, (b) filings to be made in connection with the Liens contemplated by this Agreement or the Loan Documents and (c) consent or approval of the Bankruptcy Court. 

SECTION 3.10. Subsidiaries. Attached hereto on Schedule 3.10 is the correct and complete list of each of the Company’s
Subsidiaries as of the Closing Date identifying as to each such Subsidiary its name, the jurisdiction of incorporation or formation, each member or shareholder or other owner of an interest in such Subsidiary, the number of outstanding shares or
other ownership interest owned by each such shareholder, member or other owner. 
 SECTION 3.11. Investment Company Act. No Borrower
nor any of its Subsidiaries is an “investment company,” or a company “controlled” by an “investment company,” within the meaning of the Investment Company Act of 1940, as amended. 

SECTION 3.12. Collateral Documents; Liens. Each Collateral Document executed by each Loan Party shall constitute a valid and continuing
lien on and security interest in the collateral referred to in such Collateral Document in favor of the Administrative Agent for the ratable benefit of the Secured Parties and, upon entry of the Bankruptcy Court Orders, shall be prior to all other
Liens, claims and right of all other Persons, except as provided in Section 3.19(c), and shall be enforceable as such against all other Persons. 

SECTION 3.13. No Default. No Default or Event of Default has occurred and is continuing. 

SECTION 3.14. Permits and Licenses. The Borrower and each of its Subsidiaries has all permits, licenses, certifications, authorizations
and approvals required for it lawfully to own and operate their respective businesses except those the failure of which to have could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

SECTION 3.15. Compliance with Law. Each Borrower and each of its Subsidiaries is in compliance, with all laws, rules, regulations,
orders and decrees which are applicable to such Borrower or such Subsidiary, or to any of their respective properties, which the failure to comply with could, individually or in the aggregate, have a Material Adverse Effect. 

SECTION 3.16. Full Disclosure. Neither this Agreement, any other Loan Document, nor any other document, certificate or written
statement furnished to the Administrative Agent and the Lenders by or on behalf of the Borrowers or any of their Subsidiaries for use in connection with the transactions contemplated by this Agreement, when taken as a whole, contains any untrue
statement of material fact or omits to state a material fact necessary in order to make the statements contained herein or therein not misleading in light of the circumstances in which they were made. The Approved Budget as in effect on the Closing
Date and as from time to time supplemented pursuant to Section 5.03(f) represents Borrowers’ good faith estimate, on the date each such cash-flow forecast was delivered, of the Loan Parties’ and their
Subsidiaries’ future performance for the periods covered thereby based upon facts available to the Borrowers and assumptions believed by Borrowers to be reasonable at the time of the delivery thereof to the Administrative Agent. 

  
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 SECTION 3.17. Insurance. Schedule 3.17 sets forth a description of all
insurance maintained by or on behalf of the Loan Parties and their Subsidiaries as of the Closing Date. As of the Closing Date, all premiums in respect of such insurance have been paid. The Loan Parties believe that the insurance maintained by or on
behalf of the Loan Parties and their Subsidiaries is adequate and is customary for companies engaged in the same or similar businesses operating in the same or similar locations. 

SECTION 3.18. Anti-Corruption Laws, Anti-Money Laundering Laws and Sanctions. Each Loan Party has implemented and maintains in effect
policies and procedures designed to ensure compliance by such Loan Party, its Subsidiaries and their respective directors, officers, employees and agents with Anti-Corruption Laws, Anti-Money Laundering Laws and applicable Sanctions, and such Loan
Party, its Subsidiaries and their respective officers and employees and to the knowledge of such Loan Party its directors and agents, are in compliance with Anti-Corruption Laws and applicable Sanctions in all material respects. None of (a) any
Loan Party, any Subsidiary or, to the knowledge of any such Loan Party or Subsidiary, any of their respective directors, officers or employees, or (b) to the knowledge of any such Loan Party or Subsidiary, any agent of such Loan Party or any
Subsidiary that will act in any capacity in connection with or benefit from the credit facility established hereby, (A) is a Sanctioned Person or currently the subject or target of any Sanctions, (B) has its assets located in a Sanctioned
Country in violation of any Sanctions applicable to any party to this Agreement, (C) directly or, to the knowledge of any such Loan Party, indirectly derives revenues from investments in, or transactions with, Sanctioned Persons in violation of
any Sanctions applicable to any party to this Agreement, (D) has taken any action, directly or indirectly, that would result in a violation by such Persons of any Anti-Corruption Laws, except with respect to this clause (D) where such
violation could not reasonably be expected to result in a Material Adverse Effect or (E) has violated any Anti-Money Laundering Laws, except with respect to this clause (E) where such violation could not reasonably be expected to result in
a Material Adverse Effect. No Borrowing, use of proceeds or other Transactions will violate Anti-Corruption Laws, Anti-Money Laundering Laws or applicable Sanctions. 

SECTION 3.19. Reorganization Matters. 

(a) The Chapter 11 Cases were commenced on the Petition Date in accordance with applicable law and proper notice thereof and proper notice for
(i) the motion seeking approval of the Loan Documents and entry of the Interim Order and the Final Order, (ii) the hearing for the approval of the Interim Order, and (iii) the hearing for the approval of the Final Order will be given.
Borrowers shall give, on a timely basis as specified in the Interim Order or the Final Order, as applicable, all notices required to be given to all parties specified in the Interim Order or Final Order, as applicable. 

(b) After the entry of the Interim Order, and pursuant to and to the extent permitted in the Interim Order and the Final Order and consistent
with Section 2.17 hereof, the Secured Obligations will constitute allowed superpriority administrative expense claims against the Debtors (without the need to file any proof of claim) in the Chapter 11 Cases having priority over all
administrative expense claims and unsecured claims against the Borrowers now existing or hereafter arising, of any kind whatsoever, including, without limitation, all administrative expense claims of the kind specified in any provision of the
Bankruptcy Code or otherwise, as provided under section 364(c)(1) of the Bankruptcy Code, subject to the exception for the Carve-Out as is expressly set forth in the Interim Order or the Final Order. 

(c) After the entry of the Interim Order and pursuant to and to the extent provided in the Interim Order and the Final Order and consistent
with Section 2.17 hereof, the Secured Obligations will be secured by a valid and perfected first priority Lien on all of the Collateral, subject, as to priority only, to the Carve-Out as expressly
provided in the applicable Bankruptcy Court Order and Permitted Priority Liens; and such perfected first priority lien shall prime, and shall be prior to, the Prepetition Bridge Note Agent’s Liens and the Prepetition Bridge Note Agent’s
Adequate Protection Liens securing the Remaining 

  
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 Prepetition Bridge Note Obligations, the Prepetition First Lien Agent’s Liens and the Prepetition First
Lien Agent’s Adequate Protection Liens securing the Remaining Prepetition First Lien Obligations and the Prepetition Second Lien Agent’s Liens and the Prepetition Second Lien Agent’s Adequate Protection Liens securing the Prepetition
Second Lien Obligations. 
 (d) The Interim Order (with respect to the period prior to entry of the Final Order) or the Final Order (with
respect to the period on and after entry of the Final Order), as the case may be, is in full force and effect and has not been reversed, stayed, modified or amended without the Administrative Agent’s and Borrowers’ consent. 

ARTICLE IV 
 Conditions 

SECTION 4.01. Closing Date. The obligations of the Lenders to make Initial Term Loans hereunder on the Closing Date shall not become
effective until the date on which each of the following conditions is satisfied (or waived in accordance with Section 9.02): 

(a) The Administrative Agent (or its counsel) shall have received (i) from each party hereto either (A) a counterpart of this
Agreement signed on behalf of such party or (B) written evidence satisfactory to the Administrative Agent (which may include telecopy or electronic transmission of a signed signature page of this Agreement) that such party has signed a
counterpart of this Agreement, (ii) to the extent requested by a Lender pursuant to Section 2.07(e), Notes executed by the Borrowers in favor of such Lender, and (iii) duly executed copies of the other Loan
Documents and such other certificates, documents, instruments and agreements as the Administrative Agent shall reasonably request in connection with the Transactions, all in form and substance reasonably satisfactory to the Administrative Agent and
its counsel. 
 (b) The Administrative Agent shall have received such documents and certificates as the Administrative Agent or its counsel
may reasonably request relating to the organization, existence and good standing of the initial Loan Parties, the authorization of the Transactions and any other legal matters relating to such Loan Parties, the Loan Documents or the Transactions,
all in form and substance reasonably satisfactory to the Administrative Agent and its counsel. 
 (c) The Administrative Agent shall have
received the following, each in form and substance reasonably satisfactory to the Administrative Agent: (i) copies of all motions, pleadings and other documents to be filed by the Company or any of its Subsidiaries with, and submitted to, the
Bankruptcy Court on or prior to the Closing Date; and (ii) the proposed initial Approved Budget. 
 (d) The Administrative Agent shall
have received a copy of the Stalking Horse Agreement, certified as true and correct by the Company; and the Stalking Horse Agreement shall be in full force and effect. 

(e) The petition date shall have occurred and the Borrowers shall have commenced the Chapter 11 Cases and no trustee, examiner or receiver
shall have been appointed or designated with respect to the Borrowers or their business, properties or assets and no motion shall be pending seeking any such relief. 

(f) The Interim Order shall have been entered by the Bankruptcy Court and the Administrative Agent shall have received a true and correct
signed copy of such order as so entered on or prior to 9:00 a.m., New York City time, on the Closing Date (or such later time as the Administrative Agent may agree), and such order shall be in full force and effect and shall not have been reversed,
modified, 

  
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amended, stayed or vacated without the prior written consent of the Administrative Agent and the Required Lenders; and the Administrative Agent and Required Lenders shall (i) be reasonably
satisfied with all “first- day orders” and any other order entered by the Bankruptcy Court on or prior to the Closing Date and (ii) be satisfied with the form and substance of the Interim Order; provided that that such
Interim Order shall, among other things, (i) have been entered on such prior notice to such parties as may be reasonably satisfactory to the Required Lenders, (ii) authorize the Loans, each in the amounts and on the terms set forth herein,
(iii) grant the DIP Superpriority Claim status, (iv) authorize and perfect the Liens on the Collateral with the priority referred to herein and in the other Loan Documents, (v) approve the payment by the Debtors of the fees provided
for herein, (vi) approve the repayment in of the Prepetition Obligations from the proceeds of the Roll-Up Loans to the extent provided in Section 2.01(b), (vii) grant such
adequate protection in respect of the claims secured by the Primed Liens as shall be reasonably acceptable to the Required Lenders, and (viii) not have been (A) stayed, vacated or reversed, or (B) amended or modified except as
otherwise agreed to in writing by Administrative Agent and the Required Lenders in their sole discretion. Notwithstanding anything to the contrary contained herein, an Interim Order in the form of Exhibit H shall, if entered by the Bankruptcy
Court, be deemed acceptable to the Administrative Agent and Required Lenders. 
 (g) All necessary governmental and third-party consents and
approvals necessary in connection with the making of the Loans and the transactions contemplated thereby shall have been obtained (without the imposition of any adverse conditions that are not reasonably acceptable to the Administrative Agent and
the Required Lenders) and shall remain in effect unless non-compliance is permitted under the Bankruptcy Code. 

(h) The Administrative Agent shall have received, at least three (3) Business Days prior to the Closing Date, all documentation and other
information required by regulatory authorities under applicable “know your customer” and anti-money laundering rules and regulations, including, without limitation, the USA PATRIOT Act, to the extent requested prior to the Petition Date.

 (i) The Administrative Agent shall have received a notice setting forth (i) the deposit account of the Borrowers (the
“Funding Account”) to which the Administrative Agent is authorized by the Borrower Representative to transfer the proceeds of any Borrowings requested or authorized pursuant to this Agreement and (ii) the Carve-Out Escrow Account. 
 For purpose of determining compliance with the conditions specified in this
Section 4.01, each Lender that has signed this Agreement shall be deemed to have accepted, and to be satisfied with, each document or other matter required under this Section 4.01 unless the
Administrative Agent shall have received written notice from such Lender prior to the proposed Closing Date specifying its objection thereto. The Administrative Agent shall notify the Borrower Representative, the Lenders of the Closing Date, and
such notice shall be conclusive and binding. Notwithstanding the foregoing, the obligations of the Lenders to make Loans hereunder shall not become effective unless each of the foregoing conditions is satisfied (or waived pursuant to
Section 9.02). 
 SECTION 4.02. Each Credit Event. The obligation of each Lender to make a Loan on the
occasion of any Borrowing, in each case, including the funding on the Closing Date, is subject to the satisfaction of the following conditions: 

(a) The representations and warranties of the Loan Parties set forth in the Loan Documents shall be true and correct in all material respects
(or, in the case of any representation or warranty qualified by materiality or Material Adverse Effect, in all respects) with the same effect as though made on and as of the date of such Borrowing (it being understood and agreed that any
representation or warranty which by its terms is made as of a specified date shall be required to be true and correct only as of such specified date). 

  
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 (b) At the time of and immediately after giving effect to such Borrowing, no Default shall
have occurred and be continuing. 
 (c) After giving effect to any Borrowing, the Aggregate Credit Exposure (exclusive of any capitalized
interest) shall not exceed the aggregate Commitments. 
 (d) With respect to any Borrowing of NM Term Loans in excess of the Interim
Availability Amount, the Bankruptcy Court shall have entered the Final Order authorizing and approving the DIP Facility, in form and substance satisfactory to the Administrative Agent and the Required Lenders, 

(e) All necessary governmental and third party consents and approvals necessary in connection with the making of the Loans and the
transactions contemplated thereby shall have been obtained (without the imposition of any adverse conditions that are not reasonably acceptable to the Administrative Agent and the Required Lenders) and shall remain in effect unless non-compliance is permitted under the Bankruptcy Code. Since the Petition Date, no Requirement of Law shall be applicable to the Loan Parties that could reasonably be expected to result in a Material Adverse Effect.

 (f) The Administrative Agent shall have received a fully executed Borrowing Request. 

(g) For any Borrowing requested on or after May 25, 2022, the Borrowers shall have delivered to Circles MVNE Pte. Ltd. all documents
required to be delivered under the Stalking Horse Agreement to the reasonable satisfaction of the Administrative Agent. 
 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 4.02, each of the Administrative Agent and each Lender
that has signed this Agreement shall be deemed to have consented to, approved or accepted or to be satisfied with, each document or other matter required thereunder to be consented to or approved by or acceptable or satisfactory to a Lender unless,
in the case of a Lender, the Administrative Agent shall have received notice from such Lender prior to the proposed Closing Date specifying its objection thereto. 

Each Borrowing after the Closing Date shall be deemed to constitute a representation and warranty by each Borrower on the date thereof as to the matters
specified in this Section. 
 Notwithstanding the failure to satisfy the conditions precedent set forth in this Section, unless otherwise directed by the
Required Lenders, the Administrative Agent may, but shall have no obligation to, continue to make Loans for the ratable account and risk of Lenders from time to time if the Administrative Agent believes that making such Loans is in the best
interests of the Lenders. 
 ARTICLE V 

Affirmative Covenants 

Until the Commitments shall have expired or been terminated and the principal of and interest on each Loan and all fees payable hereunder
shall have been paid in full, each Loan Party executing this Agreement covenants and agrees, jointly and severally with all of the other Loan Parties, with the Lenders that: 

  
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 SECTION 5.01. Existence; Properties; Insurance. Subject to the exceptions set forth
in Section 6.08, each Loan Party will, and will cause each Subsidiary to, do or cause to be done all things necessary to preserve and keep in full force and effect its corporate, partnership or limited liability existence
as applicable, rights, qualifications, licenses, permits, franchises, governmental authorizations, intellectual property rights, licenses and permits material to the conduct of its business and comply in all material respect with all laws applicable
to (except where the failure to so qualify is the result of the status of the Loan Parties as debtors-in-possession in the Chapter 11 Cases); at all times maintain,
preserve and protect all franchises and trade names material to its business and preserve all of its property used or useful in and material to the conduct of its business, and keep the same in good repair, working order and condition, normal wear
and tear excepted, and from time to time make, or cause to be made, all needful and proper repairs, renewals, replacements, betterments and improvements thereto so that the business carried on in connection therewith may be properly and
advantageously conducted in the ordinary course at all times; and at all times maintain insurance covering its assets and its businesses with financially sound and reputable insurance companies or associations in such amounts and against such risks
(including, without limitation, hazard, business interruption, public liability and product liability) as are usually carried by companies engaged in the same or similar business. Each such policy of insurance of the Loan Parties shall name the
Administrative Agent as loss payee and additional insured and shall provide for at least thirty (30) days’ prior written notice to the Administrative Agent of any modification or cancellation of such policies. Each Loan Party shall provide
to the Administrative Agent promptly upon receipt thereof evidence of the annual renewal of each such policy. 
 SECTION 5.02. Payment of
Obligations and Taxes. 
 Each Loan Party will, and will cause each Subsidiary to, pay all material obligations, now existing (except
for any non-performance resulting in a default, the enforcement of which is stayed by the Chapter 11 Cases (other than as may be permitted by order of the Bankruptcy Court)) or hereafter arising, as and when
due and payable in accordance with the Approved Budget, and pay and discharge or cause to be paid and discharged promptly all taxes, assessments and government charges or levies imposed upon it or upon its income and profits, or upon any of its
property, real, personal or mixed, or upon any part thereof, before the same shall become in default, as well as all lawful claims for labor, materials and supplies or otherwise which, if unpaid, might become a lien or charge upon such properties or
any part thereof; provided, however, that no Borrower nor any of its Subsidiaries shall be required to pay and discharge or cause to be paid and discharged any such tax, assessment, charge, levy or claim (a) with respect to Prepetition periods
for which payment cannot be made as a result of any Borrower’s status as a debtor and debtor-in-possession under its Chapter 11 Case (other than as may be permitted
by order of the Bankruptcy Court) or (b) so long as the validity thereof shall be contested in good faith by appropriate proceedings, and the Borrower or such Subsidiary, as the case may be, shall have set aside on its books adequate reserves
determined in accordance with GAAP with respect to any such tax, assessment, charge, levy or claim so contested; further, provided that, subject to the foregoing proviso, the Borrowers and each of their Subsidiaries shall pay or cause to be paid all
such taxes, assessments, charges, levies or claims upon the commencement of proceedings to foreclose any lien which has attached as security therefor. 

SECTION 5.03. Financial Statements; Other Information. 

The Loan Parties will furnish to the Administrative Agent for distribution to each Lender: 

(a) as soon as available, but in any event within 90 days after the end of each fiscal year of the Borrowers, the audited consolidated balance
sheet of the Borrowers and their Subsidiaries as of the end of such year and the related audited consolidated statements of income, shareholders equity and cash flow for such year, setting forth in each case in comparative form the respective
figures as of the end of and for the previous fiscal year, and accompanied by a report thereon of the Company’s independent 

  
 42 

 certified public accountants, which report shall be unqualified (other than as a result of the Chapter 11
Cases) and which statements shall be prepared in accordance with GAAP, applied on a consistent basis and (ii) the corresponding consolidating balance sheets of the Borrowers and their Subsidiaries and the consolidating statements of income for the
Borrowers and their Subsidiaries, all prepared under the supervision of the chief financial officer of the Borrower Representative in accordance with GAAP; 

(b) as soon as available, but in any event not later than 45 days after the end of the first, second and third fiscal quarters of the
Borrowers, the unaudited interim consolidated and consolidating balance sheet of the Borrowers and their Subsidiaries as of the end of each such quarter and the related unaudited interim consolidated and consolidating statements of income for such
quarter and the portion of the fiscal year through such date and setting forth in each case in comparative form the respective figures for the corresponding date and period in the previous fiscal year, in each case prepared by the chief financial
officer of the Borrower Representative in accordance with GAAP, applied on a consistent basis; 
 (c) certificates prepared and signed by
the chief financial officer of the Borrower Representative, in each case substantially in the form of Exhibit C (each, a “Compliance Certificate”), with each delivery required by clause (a) and clause (b), as to whether
or not, as of the close of such preceding period and all times during such preceding period, the Borrowers and their Subsidiaries were in compliance with all the provisions in this Agreement, showing computation of quantitative negative covenants,
and if the chief financial officer of the Borrower Representative shall have obtained knowledge of any Default or Event of Default, it shall disclose in such certificate such Default or Event of Default and the nature thereof; 

(d) promptly after submission to any government or regulatory agency, all documents and information furnished to such government or regulatory
agency other than such documents and information prepared in the normal course of business and which could not result in any adverse action to be taken by such agency which action could reasonably be expected to have a Material Adverse Effect; 

(e) no later than Friday of each week (commencing on the Friday following the week of the Closing Date), of a report in form and detail
reasonably satisfactory to the Administrative Agent comparing the Borrowers’ actual results under the then applicable Approved Budget for the immediately preceding week on a line-item basis compared to the projections in the Approved Budget and
an analysis of any budget variances; 
 (f) no later than the first Wednesday of each month (commencing the first Wednesday of the month
following the month in which the Interim Order is entered), an updated thirteen-week cash flow and fee and expense incurrence forecast, in form and detail reasonably satisfactory to the Administrative Agent, covering the thirteen-week period
commencing with the then current week to supplement the then Approved Budget (the substance of which shall be reasonably satisfactory to the Administrative Agent); 

(g) as soon as reasonably practicable prior to the filing thereof (and in any event, except in the case of emergency motions, not less than
one (1) Business Day prior to the filing thereof), copies of all pleadings, motions, applications, financial information and other papers and documents (including, in each case, all attachments thereto) filed by any Borrower in the Chapter 11
Cases; 
 (h) unless already so delivered to the Administrative Agent prior to delivery to any Committee, concurrently with or as soon as
reasonably practicable after the sending thereof (and in any event, not less than one (1) Business Day after the sending thereof), copies of all written reports (including, in each case, all attachments thereto) delivered by the Borrowers to
any Committee related to the operations, business, assets, properties or financial condition of the Company or any of its Subsidiaries (including, without limitation, audits, appraisals, valuations, projections and other financial reports); and 

  
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 (i) promptly, from time to time, such other information regarding the operations, business
affairs and condition (financial or otherwise) of the Loan Parties or the Subsidiaries as any Lender may reasonably request. 
 SECTION
5.04. Books and Records; Access to Premises. Maintain financial records in accordance with GAAP and permit representatives of any Lender, in coordination with the Administrative Agent, to have access during normal business hours to the
premises of each Loan Party and the Subsidiaries upon prior written request, and to examine and make excerpts from the minute books, books of accounts, reports and other records and to discuss the affairs, finances and accounts of each Loan Party
and the Subsidiaries with their respective principal officers or with their respective independent accountants, and permit representatives of the Administrative Agent to conduct such audits (including, without limitation, field audits of each Loan
Party and each Subsidiary’s accounts receivable and inventory) as the Administrative Agent reasonably deems necessary. 
 SECTION 5.05.
Notices of Material Events. The Borrowers will furnish to the Administrative Agent for distribution to each Lender: 
 (a) Notice
of Adverse Change. (i) prompt written notice of any change in the business or the operations of any Loan Party or any Subsidiary which could reasonably be expected to have a Material Adverse Effect, and (ii) any information which
indicates that any financial statements which are the subject of any representation contained in this Agreement, or which are furnished to the Administrative Agent or the Lenders pursuant to this Agreement, fail, in any material respect, to present
fairly, the financial condition and results of operations purported to be presented therein, disclosing the nature thereof; 
 (b) Notice
of Default. prompt written notice of any Default or Event of Default which shall have occurred, which notice shall include a written statement as to such occurrence, specifying the nature thereof and the action, if any, which is proposed to be
taken with respect thereto; 
 (c) Notice of Litigation. prompt written notice of any action, suit or proceeding at law or in equity
or by or before any governmental instrumentality or other agency which, if adversely determined against any Loan Party or any Subsidiary on the basis of the allegations and information set forth in the complaint or other notice of such action, suit
or proceeding, or in the amendments thereof, if any, could reasonably be expected to have a Material Adverse Effect; and 
 (d) Notice of
Default in Other Agreements. prompt written notice of any default in the performance, observance or fulfillment of any of the obligations, covenants or conditions contained in any agreement or instrument to which any Loan Party or any Subsidiary
is a party (except for any non- performance resulting in a default, the enforcement of which is stayed by the Chapter 11 Cases) which default could reasonably be expected to have a Material Adverse Effect.

 SECTION 5.06. Compliance with Applicable Laws. Each Loan Party will, and will cause each Subsidiary to, comply with the
requirements of all applicable laws, rules, regulations and orders of any Governmental Authority, the breach of which could reasonably be expected to have a Material Adverse Effect. Each Loan Party will maintain in effect and enforce policies and
procedures designed to ensure compliance by such Loan Party, its Subsidiaries and their respective directors, officers, employees and agents with Anti-Corruption Laws and applicable Sanctions. 

SECTION 5.07. Use of Proceeds. The proceeds of the Loans will be used only (a) in the case of the proceeds of Loans advanced
pursuant to Section 2.01(a), (i) to pay expenses of the Borrowers of the types, and in the amounts, as provided the Approved Budget (including to fund any professional fees that are included for the applicable period in the
Approved Budget but are not yet approved for payment by 

  
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 the Bankruptcy Court, to the Carve-Out Escrow Account, and amounts
deposited to such account may be applied to pay such fees as are approved by the Bankruptcy Court), and (ii) to make adequate protection payments in respect of the Prepetition Obligations as provided for in the Bankruptcy Court Orders; and
(b) in the case of the proceeds of Loans advanced pursuant to Section 2.01(b), to refinance the Prepetition Notes of the Lenders identified on Schedule 2.01. No part of the proceeds of any Loans will be used for
the payment of the fees and expenses of any person incurred in challenging any liens or claims of, or the initiation or prosecution of any claim or cause of action against, any Prepetition Holder, any Prepetition Agent, any Lender or the
Administrative Agent. No part of the proceeds of any Loan will be used, whether directly or indirectly, for any purpose that entails a violation of any of the Regulations of the Board, including Regulations T, U and X. The Borrower Representative
will not request any Borrowing, and each Borrower shall not use, and shall procure that its Subsidiaries and its or their respective directors, officers, employees and agents shall not use, the proceeds of any Borrowing (i) in furtherance of an
offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any Person in violation of any Anti-Corruption Laws, (ii) for the purpose of funding, financing or facilitating any activities,
business or transaction of or with any Sanctioned Person, or in any Sanctioned Country or (iii) in any manner that would result in the violation of any Anti-Money Laundering Laws or Sanctions applicable to any party hereto. 

SECTION 5.08. Guarantors; Collateral; Further Assurances. 

(a) As promptly as possible but in any event not later than five (5) Business Days after the date any Person becomes a Domestic
Subsidiary after the Closing Date (or such later date as may be agreed upon by the Administrative Agent), the Borrowers shall provide the Administrative Agent with written notice thereof setting forth information in reasonable detail describing the
material assets of such Person and shall cause each such Subsidiary to execute and deliver to the Administrative Agent a Joinder Agreement pursuant to which such Subsidiary agrees to be bound by the terms and provisions of this Agreement and the
other Loan Documents, and upon execution and delivery thereof such Subsidiary shall automatically become a Loan Guarantor hereunder and thereupon shall have all of the rights, benefits, duties, and obligations in such capacity under the Loan
Documents, such Joinder Agreement to be accompanied by appropriate corporate resolutions and other corporate documentation in form and substance reasonably satisfactory to the Administrative Agent and its counsel. 

(b) Subject to the Interim Order or Final Order, as applicable, the Borrowers will cause, and will cause each other Loan Party to cause, all
of its owned property (whether personal, tangible, intangible, or mixed (other than Excluded Property)) to be subject at all times to first priority, perfected Liens in favor of the Administrative Agent for the benefit of the Secured Parties to
secure the Secured Obligations in accordance with the terms and conditions of the Collateral Documents, subject in any case to Liens permitted by Section 6.01. Without limiting the generality of the foregoing, the Borrowers
will cause the Applicable Pledge Percentage of the issued and outstanding Equity Interests (other than Excluded Property) of each Pledge Subsidiary directly or indirectly owned by the Borrowers or any other Loan Party to be subject at all times to a
first priority, perfected Lien in favor of the Administrative Agent to secure the Secured Obligations in accordance with the terms and conditions of the Collateral Documents or such other pledge and security documents as the Administrative Agent
shall reasonably request, such pledge agreement or similar pledge document to be accompanied by appropriate corporate resolutions, other corporate documentation and legal opinions in form and substance reasonably satisfactory to the Administrative
Agent and its counsel. 
 (c) Without limiting the foregoing, each Borrower will execute and deliver, or cause to be executed and delivered,
to the Administrative Agent such documents, agreements and instruments, and will take or cause to be taken such further actions (including the filing and recording of financing statements and other documents and such other actions or deliveries of
the type required by Section 4.01, 

  
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 as applicable), which may be required by any Requirement of Law or which the Administrative Agent may, from
time to time, reasonably request to carry out the terms and conditions of this Agreement and the other Loan Documents and to ensure perfection and priority of the Liens created or intended to be created by the Collateral Documents, all at the
expense of the Borrowers. 
 (d) If any assets (other than Excluded Property) are acquired by a Loan Party after the Closing Date (other
than assets constituting Collateral under the Security Agreement that become subject to the Lien under the Security Agreement upon acquisition thereof), the Borrowers will notify the Administrative Agent thereof, and, if requested by the
Administrative Agent, the Borrowers will cause such assets to be subjected to a Lien securing the Secured Obligations and will take, and cause the other Loan Parties to take, such actions as shall be necessary or reasonably requested by the
Administrative Agent to grant and perfect such Liens, including actions described in paragraph (c) of this Section, all at the expense of the Borrowers. 

SECTION 5.09. Section 363 Sales. The Loan Parties shall, not later than the number of days following the Closing
Date set forth below for the applicable action set forth below (or, in each case, such later date for such action as the Administrative Agent may agree): 

(a) not later than seven (7) days following the Closing Date, cause the Sale Procedure Motion to be filed with the Bankruptcy Court,
seeking to allow the Lender or an affiliate thereof to credit bid up to the full amount of its claims (whether arising under this Agreement or the Prepetition Bridge Note and which credit bid may provide for the assignment of the right to purchase
the Acquired Assets) (the “363 Sale”); 
 (b) not later than thirty (30) days following the Closing Date,
obtain entry of the Sale Procedure Order; 
 (c) not later than forty-five (45) days following the entry of the Sale Procedure Order,
obtain the approval of the Bankruptcy Court for the sale of the Subject Assets pursuant to an asset purchase agreement and an order of the Bankruptcy Court, each in form and substance reasonably satisfactory to Administrative Agent and the Required
Lenders (such order, a “Sale Order”); and 
 (d) not later than twenty (20) days following the entry of a Sale Order,
consummate the sale of the Subject Assets pursuant to Section 363 of the Bankruptcy Code on the terms of the applicable asset purchase agreement and order of the Bankruptcy Court, as such asset purchase agreement and order may be amended or
otherwise modified in a manner reasonably satisfactory to Administrative Agent and the Required Lenders. 
 SECTION 5.10. Post-Closing
Actions. The Loan Parties shall deliver to the Administrative Agent: 
 (a) within five (5) days of the Closing Date (or such later
date as agreed to by the Required Lenders in writing), evidence that all insurance required to be maintained pursuant to the Loan Documents has been obtained and is in effect, together with the certificates of insurance, naming the Administrative
Agent, on behalf of the Lenders, as an additional insured or loss payee, as the case may be, under all insurance policies maintained with respect to the assets and properties of the Loan Parties (other than Foreign Subsidiaries) that constitutes
Collateral; 

  
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 (b) within fifteen (15) days of entry of the Final Order (or such later date as agreed
to by the Administrative Agent in writing), (i) to the extent all of the Prepetition Bridge Loan Obligations have been repaid as of such date, use commercially reasonable efforts to cause all existing control agreements with respect to Deposit
Accounts and Securities Accounts, in each case, delivered in connection with the Prepetition Bridge Note to be assigned to the Administrative Agent or (ii) to the extent all of the Prepetition Bridge Loan Obligations have not been repaid as of
such date or if such existing control agreements cannot be assigned, use commercially reasonable efforts to deliver such control agreements with respect to Deposit Accounts (other than Excluded Accounts (as defined in the Security Agreement)) and
Securities Accounts, in each case as referred to in the Security Agreement (in each case, to the extent required by the Administrative Agent (at the direction of the Required Lenders)), duly executed by the appropriate parties as the Required
Lenders may request. 
 (c) within fifteen (15) days of entry of the Final Order (or such later date as agreed to by the Administrative
Agent in writing), use commercially reasonable efforts to obtain certificates representing the Pledged Stock referred to therein accompanied by undated stock powers executed in blank and instruments evidencing any pledged debt instruments indorsed
in blank. 
 (d) Within fifteen (15) days of the entry of the Final Order (or such later date as agreed to by the Administrative Agent
in writing), (i) use commercially reasonable efforts to enter into such security agreement over secured liabilities in Netherlands (the “Dutch Security Agreement”), (ii) register such Dutch Security Agreement with applicable
authorities (the “Dutch Tax Authorities”), and (ii) to the extent applicable, notify debtors of the disclosed security over the relevant receivables. 

(e) Within fifteen (15) days of the entry of the Final Order (or such later date as agreed to by the Administrative Agent in writing),
(i) use commercially reasonable efforts to enter into such security agreement over secured liabilities in the United Kingdom (the “UK Security Agreement”) and (ii) register such UK Security Agreement with the applicable
authorities in the United Kingdom, such being the UK Companies House. 
 SECTION 5.11. Financial Advisor. The Loan Parties shall
continuously retain during the term of this Agreement a restructuring advisor, chief restructuring officer, or a financial advisor, which is reasonably satisfactory to the Required Lenders (with FTI Consulting, Inc. deemed an acceptable
restructuring advisor or financial advisor to the Required Lenders), and the Loan Parties shall provide the Lenders and their advisors with reasonable access to the Loan Parties’ restructuring and financial advisors; provided that, if a
restructuring advisor, chief restructuring officer or a financial advisor ceases to be retained, the Borrower will retain a new restructuring advisor, or chief restructuring officer or financial advisor, as the case may be, reasonably satisfactory
to the Required Lenders within thirty (30) days (which period may be extended by up to fifteen (15) days with the approval of the Required Lenders in their sole discretion) of such cessation. 

SECTION 5.12. Lender and Advisor Calls. The Borrower shall arrange for, once per month, upon reasonable prior notice (unless waived by
the Required Lenders), a conference call with the Lenders discussing and analyzing the financial condition and results of operations of each of the Loan Parties for the prior fiscal quarter, status of the Chapter 11 Cases and progress in achieving
the milestones set forth in Section 5.13, and the monthly operating report most recently filed with the Bankruptcy Court. 

SECTION 5.13. Case Milestones. Each Loan Party shall ensure that each of the milestones set forth below is achieved in accordance with
the applicable timing referred to below (or such later dates as approved by the Required Lenders): 
 (a) Not later than the date that is 15
days following the Petition Date, the Debtors shall have obtained entry of an order approving bidding procedures for a sale of substantially all of their assets under section 363 of the Bankruptcy Code. 

  
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 (b) Not later than the date that is 29 days following the Petition Date, the Debtors shall
have received all “Qualified Bids” for a purchase of substantially all of their assets. 
 (c) Not later than the date that is 38
days following the Petition Date, the Bankruptcy Court shall have held a hearing to approve the sale of substantially all of the Debtors’ assets. 

(d) Not later than the date that is 40 days after the Petition Date, the Bankruptcy Court shall have entered an order approving the sale to
the winning bidder in the auction for substantially all of the Debtors’ assets. 
 (e) Not later than July 12, 2022, the Debtors
shall have consummated the sale of the Stalking Horse Package to the winning bidder at the auction. 
 SECTION 5.14. Certain Other
Bankruptcy Matters. 
 (a) Holdings, the Borrower and the Subsidiaries shall comply in all respects, after entry thereof, with all of
the requirements and obligations set forth in the Bankruptcy Court Orders, as such order is amended and in effect from time to time in accordance with this Agreement. 

(b) The Borrower shall provide at least five (5) Business Days’ (or such shorter notice acceptable to the Required Lenders in their
sole discretion) prior written notice to the Administrative Agent and its advisors prior to any assumption or rejection of any Debtor’s material contracts or material non- residential real property leases
pursuant to Section 365 of the Bankruptcy Code, and no such contract or lease shall be assumed or rejected, if such assumption or rejection adversely impacts (i) the Collateral, any Liens thereon or any DIP Superpriority Claims payable
therefrom (including, without limitation, any sale or other disposition of Collateral or the priority of any such Liens or DIP Superpriority Claims) or (ii) any transaction outside of the ordinary course of business with any Loan Party, if the
Required Lenders inform the Borrower in writing within three (3) Business Days of receipt of the notice from the Borrower referenced above that they object to such assumption or rejection, as applicable. 

ARTICLE VI 
 Negative Covenants

 Until the Commitments shall have expired or been terminated and the principal of and interest on each Loan and all fees, expenses and
other amounts payable under any Loan Document shall have been paid in full (other than contingent indemnification Obligations to the extent no claim giving rise thereto has been asserted), each Loan Party executing this Agreement covenants and
agrees, jointly and severally with all of the other Loan Parties, with the Lenders that: 
 SECTION 6.01. Liens. No Loan Party will,
nor will it permit any Subsidiary to, create, incur, assume or permit to exist any Lien on any property or asset now owned or hereafter acquired by it, or assign or sell any income or revenues or rights in respect of any thereof, except: 

(a) (i) the Prepetition Agents’ Liens; (ii) other Liens existing on the Petition Date as set forth on Schedule 6.01 attached
hereto or in the Bankruptcy Schedules; and (iii) the Prepetition Agents’ Adequate Protection Liens; 
 (b) Liens for taxes,
assessments or other governmental charges or levies not yet delinquent or which are being contested in good faith by appropriate proceedings; provided that adequate reserves with respect thereto are maintained on the books of the Loan Parties
or the Subsidiaries in accordance with GAAP; 

  
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 (c) carriers’, warehousemens’, mechanics’, suppliers’ or other like
Liens arising in the ordinary course of business and, to the extent the aggregate of such Liens secure obligations in excess of $600,000 in the aggregate, such Liens are not overdue for a period of more than 60 days or which are being contested in
good faith by appropriate proceedings in a manner which will not jeopardize or diminish the interest of the Administrative Agent in any of the Collateral subject to the Collateral Documents; 

(d) Liens incurred or deposits to secure the performance of tenders, bids, trade contracts (other than for borrowed money), leases, statutory
obligations, surety, performance and appeal bonds, and other obligations of similar nature incurred in the ordinary course of business or consistent with past practices prior to the Closing Date; 

(e) easements, rights of way, restrictions and other similar charges or encumbrances which in the aggregate do not interfere in any material
respect with the occupation, use and enjoyment by any Loan Party or any Subsidiary of the property or assets encumbered thereby in the normal course of their respective business or materially impair the value of the property subject thereto; 

(f) deposits under workmen’s compensation, unemployment insurance and social security laws; 

(g) Liens granted to the Administrative Agent, for the ratable benefit of the Secured Parties, under this Agreement or any other Loan
Document; 
 (h) purchase money liens for fixed or capital assets acquired in the ordinary course of business after the Closing Date if the
debt service in respect of the Indebtedness secured thereby is permitted by the Approved Budget, if any, including such obligations with respect to Capital Leases; provided in each case (i) no Default or Event of Default shall have
occurred and be continuing or shall occur after giving effect to such lien, (ii) such purchase money lien does not exceed 100% of the purchase price of and encumbers only, the asset acquired and (iii) such purchase money Lien does not
secure any Indebtedness other than in respect of the purchase price of the asset acquired; 
 (i) Liens on Equity Interests in joint
ventures arising solely under the organizational documents for such joint ventures and not debt for borrowed money; and 
 (j) Liens in
favor of customs and revenue authorities arising as a matter of law to secure payment of customs duties in connection with the importation of goods. 

SECTION 6.02. Financial Covenants; Budget Compliance Covenants. No Loan Party will, nor will it permit any Subsidiary to, directly or
indirectly: 
 (a) Pay any expense or other disbursement other than those set forth in the Approved Budget outside of the following variances
(the “Permitted Variance”); 
 (i) Permit the actual aggregate cash receipts (excluding proceeds from NM
Term Loans that may be deemed a receipt) (the “Actual Collections”) during any Testing Period to be less than the aggregate amount of cash receipts set forth in the Approved Budget (the “Budgeted
Collections”) for such Testing Period by more than eighty-five percent (85%); provided that, if Actual Collections are less than eighty-five percent (85%) of Budgeted Collections for any Testing Period set forth in the
Approved Budget solely as a result of a delay in receipt of one or more 

  
 49 

 identifiable receivable(s) that were projected to be received during such Testing Period in
the Approved Budget, so long as such receivable(s) are received not more than fourteen (14) days after the end of such Testing Period, such receivable(s) shall be treated as having being received during such Testing Period solely for purposes
of compliance with this Section 6.02(b)(i); and 
 (ii) Permit actual aggregate disbursements (including professional
fees when funded to the Carve-Out Escrow Account) (“Actual Disbursements”) during any Testing Period to be more than the sum of (A) 115% of the aggregate amount of disbursements set forth in
the Approved Budget (the “Budgeted Disbursements”), and (B) the excess of Budgeted Disbursements over Actual Disbursements in the Approved Budget for the immediately prior Testing Period (i.e., expenses permitted by the
Approved Budged but not actually dispersed in such period). 
 SECTION 6.03. Indebtedness. No Loan Party will, nor will it permit any
Subsidiary to, create, incur, assume or suffer to exist any Indebtedness, except for the following to the extent in accordance with the Approved Budget: 

(a) (i) the Prepetition Obligations; and (ii) other Indebtedness incurred prior to the Petition Date as described in Schedule 6.02
attached hereto or in the Bankruptcy Schedules; 
 (b) the Secured Obligations; 

(c) Indebtedness for trade payables incurred in the ordinary course of business provided such payables shall be paid or discharged when due;

 (d) Indebtedness (including in respect of Capital Leases) incurred after the Closing Date secured by purchase money liens as permitted
under Section 6.01(h); provided that debt service with respect to such Indebtedness is permitted by the Approved Budget; 

(e) unsecured Indebtedness of Foreign Subsidiaries (i) in an amount not to exceed $250,000, in the aggregate, at any time, or
(ii) in respect of any unsecured Indebtedness that is in exchange for or replacement of the Indebtedness referred to in the immediately preceding clause (e)(i); 

(f) Indebtedness owing from one Loan Party to another Loan Party and other Indebtedness of any Subsidiary of the Company to the extent the
corresponding investment is permitted under Section 6.05; 
 (g) Indebtedness consisting of loans and advances
permitted pursuant to Sections 6.05(c) and 6.05(e); 
 (h) Indebtedness in respect of performance bonds, bid bonds,
appeal bonds, custom bonds, surety bonds and completion guarantees and similar obligations, or otherwise provided in the ordinary course of business of the Loan Parties or consistent with past practices, including those incurred to secure health,
safety, insurance and environmental obligations in the ordinary course of business or consistent with past practices in each case incurred after the Closing Date and for which related debt service is provided for in the Approved Budget; and 

(i) such other Indebtedness permitted pursuant to the Interim Order or the Final Order, as applicable, or any other order of the Bankruptcy
Court that is in form and substance reasonably satisfactory to the Administrative Agent. 

  
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 (j) Notwithstanding any of the foregoing, no Indebtedness permitted under this
Section 6.03 shall be permitted to have administrative expense claim status under the Bankruptcy Code that is senior to or pari passu with the superpriority administrative expense claims with respect to the Secured
Obligations and the Prepetition Obligations to the extent expressly permitted by the Interim Order or Final Order, as applicable. 
 SECTION
6.04. Sale of Assets. No Loan Party will, nor will it permit any Subsidiary to, sell, assign, lease, transfer or otherwise dispose of any of their now owned or hereafter acquired respective properties and assets, whether or not pursuant to an
order of a federal agency or commission, except for: 
 (a) the sale of inventory disposed of in the ordinary course of business; 

(b) the sale or other disposition of used, obsolete, worn out or surplus equipment or property in the ordinary course of their business; and

 (c) the sales pursuant to any Sale Order. 

SECTION 6.05. Loans; Investments and Acquisitions. No Loan Party will, nor will it permit any Subsidiary to, make or commit to make any
advance, loan, extension of credit, or capital contribution to, or purchase or hold beneficially any stock or other securities, or evidence of Indebtedness of, purchase or acquire all or a substantial part of the assets except: 

(a) investments (other than Eligible Investments) owned by the Company or any of its Subsidiaries on the Petition Date and described in
Schedule 6.04; 
 (b) Eligible Investments; 

(c) deposits in deposit accounts; 

(d) investments, loans or advances made on or after the Closing Date by the Loan Parties in Subsidiaries that are Loan Parties; and 

(e) investments, loans and advances by Subsidiaries that are not Loan Parties to other Subsidiaries that are not Loan Parties. 

SECTION 6.06. Nature of Business. No Loan Party will, nor will it permit any Subsidiary to, change or alter, in any material respect,
the nature of its business from the nature of the business engaged in by it on the date hereof, and businesses ancillary or reasonably related thereto. 

SECTION 6.07. Federal Reserve Regulations. No Loan Party will, nor will it permit any Subsidiary to, permit any Loan or the proceeds of
any Loan to be used for any purpose which violates or is inconsistent with the provisions of Regulation T, U or X of the Board. 
 SECTION
6.08. Limitations on Fundamental Changes. No Loan Party will, nor will it permit any Subsidiary to, change its organizational form, merge or consolidate with, or sell, assign, lease or otherwise dispose of (whether in one transaction or in a
series of transactions) all or substantially all of its assets (whether now or hereafter acquired) to, any Person, acquire all of the stock or all or substantially all of the assets or the business of any Person or liquidate, wind up or dissolve or
suffer any liquidation or dissolution, except if at the time thereof and immediately after giving effect thereto no Default or Event of Default shall have occurred and be continuing or would result therefrom, (i) the merger, consolidation or
amalgamation of any Subsidiary into or with any Loan Party in a transaction in which the surviving or resulting entity is or becomes a Loan Party, (ii) the merger, consolidation or amalgamation of any Subsidiary that is not a Loan Party into or
with any other Subsidiary that is not a Loan Party, and (iii) the sales pursuant to the Sales Orders. 

  
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 SECTION 6.09. Existing Indebtedness. No Loan Party will, nor will it permit any
Subsidiary to, directly or indirectly prepay, defease, purchase, redeem, or otherwise acquire any existing Indebtedness outstanding on the Petition Date) or amend, supplement or otherwise modify any of the terms thereof without the prior written
consent of the Administrative Agent other than the Prepetition Obligations as set forth in this Agreement. 
 SECTION 6.10. Restricted
Payments. No Loan Party will, nor will it permit any Subsidiary to, declare any dividend on, or make any payment on account of, or set apart assets for a sinking or other analogous fund for the purchase, redemption, defeasance, retirement or
other acquisition of, any shares of any class of stock of the Company or any of its Subsidiaries or any warrant to purchase any class of stock of the Company or any of its Subsidiaries, whether now or hereafter outstanding, or make any other
distribution in respect thereof, either directly or indirectly, whether in cash, securities or property or in obligations of the Company or any of its Subsidiaries or in any combination thereof, or permit any Affiliate to make any payment on account
of, or purchase or otherwise acquire, any shares of any class of the stock of the Company or any of its Subsidiaries or any warrant to purchase any class of stock of the Company or any of its Subsidiaries from any Person (any of the foregoing, a
“Restricted Payment”); provided that, any wholly owned Subsidiary of the Company may make dividends or distributions to its shareholders or members. 

SECTION 6.11. Transactions with Affiliates. No Loan Party will, nor will it permit any Subsidiary to, enter into any transaction,
including, without limitation, the purchase, sale, or exchange of property or the rendering of any service, with any Affiliate (other than any Loan Party), except (a) in the ordinary course of and pursuant to the reasonable requirements of the
Borrowers or any of theirs Subsidiaries’ business and upon fair and reasonable terms no less favorable to such Borrower or such Subsidiary than they would obtain in a comparable arm’s-length
transaction with a Person not an Affiliate (other than any Loan Party) and (b) as expressly permitted by this Article VI. 

SECTION 6.12. Governmental Regulation. No Loan Party will, nor will it permit any Subsidiary to, (i) be or become subject at any
time to any law, regulation, or list of any government agency (including, without limitation, the U.S. Office of Foreign Asset Control list) that prohibits or limits any Lender from making any advance or extension of credit to the Borrowers or from
otherwise conducting business with the Loan Parties, or (ii) fail to provide documentary and other evidence of the Loan Parties’ identity as may be requested by Lender at any time to enable Lender to verify any Loan Party’s identity
or to comply with any applicable law or regulation, including, without limitation, the USA PATRIOT Act. 
 SECTION 6.13. Restrictive
Agreements. No Loan Party will, nor will it permit any Subsidiary to, directly or indirectly enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of
such Loan Party or any Subsidiary to create, incur or permit to exist any Lien upon any of its property or assets, or (b) the ability of any Subsidiary to pay dividends or other distributions with respect to any Equity Interests or to make or
repay loans or advances to the Borrowers or any other Subsidiary or to Guarantee Indebtedness of the Borrowers or any other Subsidiary; provided that (i) the foregoing shall not apply to restrictions and conditions imposed by any
Requirement of Law or by any Loan Document or by any Prepetition Note Document, (ii) the foregoing shall not apply to restrictions and conditions existing on the date hereof identified on Schedule 6.13 (but shall apply to any
extension or renewal of, or any amendment or modification expanding the scope of, any such restriction or condition), (iii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of the
Subject Assets pending such sale, provided 

  
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 such restrictions and conditions apply only to the business and assets that are to be sold and such sale is
permitted hereunder and customary provisions in joint venture agreements, (iv) clause (a) of the foregoing shall not apply to restrictions or conditions imposed by any agreement relating to secured Indebtedness permitted by this Agreement if
such restrictions or conditions apply only to the property or assets securing such Indebtedness and (v) clause (a) of the foregoing shall not apply to customary provisions in leases and other contracts restricting the assignment thereof. 

SECTION 6.14. Deposit and Securities Accounts. Each Loan Party, and each direct or indirect Domestic Subsidiary of a Loan Party, will
not open any new Deposit Account (as defined in the Security Agreement) or securities account without the prior written consent of the Administrative Agent. 

SECTION 6.15. Reclamation Claims. Except as set forth in the Approved Budget, no Loan Party shall enter into any agreement to return
any goods to any of its creditors for application against any Prepetition obligations, Prepetition trade payables or other Prepetition claims under section 546(c) of the Bankruptcy Code or allow any creditor to take any setoff or recoupment against
any of its Prepetition Indebtedness, Prepetition trade payables or other Prepetition claims based upon any such return pursuant to section 553(b)(1) of the Bankruptcy Code. 

SECTION 6.16. Chapter 11 Claims. No Loan Party shall incur, create, assume, suffer to exist or permit any other superpriority
administrative claim which is pari passu with or senior to the claims against the Borrowers in respect of the Secured Obligations and the Prepetition Obligations, except as otherwise expressly set forth in the Interim Order or the Final
Order, as applicable, in respect of the Carve- Out. 
 SECTION 6.17. Additional Bankruptcy Matters. No Loan Party shall: 

(a) Assert or prosecute any claim or cause of action against any of the Secured Parties (in their capacities as such), unless such claim or
cause of action is in connection with the enforcement of the Loan Documents against the Administrative Agent or Lenders; 
 (b) Subject to
the terms of the Bankruptcy Court Orders and subject to Section 8.01, use proceeds from the Loans or the DIP Collateral to object to, contest, delay, prevent or interfere with in any material manner the exercise of rights
and remedies by the Administrative Agent or the Lenders with respect to the Collateral following the occurrence of an Event of Default; or 

(c) Except as expressly provided or permitted hereunder (including, without limitation, to the extent expressly identified in any line item in
the Approved Budget or pursuant to any “first day” or “second day” orders complying with the terms of this Agreement) or, with the prior consent of the Required Lenders, make any payment or distribution to any Affiliate that is
not a Loan Party or to any insider of the Company outside of the ordinary course of business. 
 SECTION 6.18. Other Superpriority
Claims. No Loan Party shall incur, create, assume, suffer to exist or permit any Superpriority Claim which is pari passu with or senior to the DIP Superpriority Claim, except for the Carve-Out. 

  
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 ARTICLE VII 

Events of Default 
 SECTION
7.01. Events of Default. If any of the following events (“Events of Default”) shall occur: 
 (a) the Loan Parties
shall fail to pay the principal of, or interest on, any Loan, or any fee or other amount due under this Agreement, as and when due and payable; 

(b) any Loan Party shall fail to observe or perform (i) any covenant, condition or agreement of such Loan Party or any of its
Subsidiaries to be performed pursuant to Section 5.01 (with respect to a Loan Party’s existence), 5.03, 5.05(b), 5.07, 5.08, 5.09, 5.10, 5.11, 5.12, 5.13, 5.14 or Article VI of
this Agreement or (ii) any other covenant, condition or agreement of the Loan Parties or any of their Subsidiaries to be performed pursuant to this Agreement or any other Loan Document (other than those specified in clause (a) of this
Article VII) and, in the case of this clause (b)(ii), such default, if capable of cure, shall continue unremedied for a period of thirty (30) days from the date of such default; 

(c) any representation or warranty made or deemed made in this Agreement or any other Loan Document shall prove to be false or misleading in
any material respect when made or given or when deemed made or given; 
 (d) any Loan Party or any Subsidiary shall fail to make any
adequate protection payment (whether of interest, fees or as reimbursement of expense and regardless of amount) in respect of any Remaining Prepetition Bridge Note Obligation or Remaining Prepetition First Lien Obligation pursuant to the Bankruptcy
Court Orders, in each case when and as the same shall become due and payable; 
 (e) one or more orders, judgments or decrees for the
payment of money in excess of $1,000,000 in the aggregate (not fully covered, but subject to customary deductibles, by insurance coverage provided by a creditworthy unaffiliated insurer that has not denied coverage), and to the extent not stayed
pursuant to section 362 of the Bankruptcy Code, shall be rendered against any Borrower or any of its Subsidiaries and the same shall not have been paid in accordance with such judgment, order or decree or settlement and either (i) an
enforcement proceeding shall have been commenced by any creditor upon such judgment, order or decree, or (ii) there shall have been a period of forty-five (45) consecutive days with respect to any Borrower or any Domestic Subsidiary or
ninety (90) consecutive days with respect to any Foreign Subsidiary during which a stay of enforcement, by the Bankruptcy Court or such other court having jurisdiction, of such judgment, order or decree, by reason of pending appeal or
otherwise, was not in effect; 
 (f) (I) any Plan shall fail to maintain the minimum funding standard required for any Plan year or part
thereof or a waiver of such standard or extension of any amortization period is applied for or granted under Section 412 of the Code, (II) any Plan is terminated by any Borrower or any ERISA Affiliate or the subject of termination
proceedings under ERISA, (III) a Reportable Event shall have occurred with respect to a Plan, or (IV) the Borrower, any of its Subsidiaries or any ERISA Affiliate shall have incurred a liability to or on account of a Plan under
Section 515, 4062, 4063, 4201 or 4204 of ERISA; and the occurrence of any such event described in the foregoing clauses (I) through (IV), when taken together with all other events described in the foregoing clauses (I) through (IV)
that have occurred, could reasonably be expected to result in a Material Adverse Effect; 
 (g) any material provision of any Loan Document
shall for any reason cease to be in full force and effect in accordance with its terms or any Borrower or any of its Subsidiaries shall so assert in writing; 

(h) any of the Liens purported to be granted pursuant to any Collateral Document shall fail or cease for any reason to be legal, valid and
enforceable liens on the Collateral purported to be covered thereby or shall fail or cease to have the priority purported to be created thereby; or 

  
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 (i) the occurrence of any of the following in any Chapter 11 Case: 

(i) the bringing of a motion or the filing of any plan of reorganization or disclosure statement attendant thereto, or the
entry of any order by the Bankruptcy Court in any Chapter 11 Case: (A) that (in the case of Borrowers, any other Loan Party or any bankruptcy estate representative (which shall not include any Committee)) requests or seeks authority for
Borrowers or any other Loan Party to obtain additional financing under sections 364(c) or (d) of the Bankruptcy Code not otherwise permitted pursuant to this Agreement, and in the case of any such request or application from any Committee, such
request or application is not dismissed with prejudice or otherwise resolved to the satisfaction of the Administrative Agent in its exclusive judgment prior to the Challenge Deadline (as defined in the Final Order), unless such additional financing
seeks to immediately and indefeasibly repay all Obligations to the Lenders in full in cash (“Repayment Financing”); (B) except as expressly provided in the Interim Order and/or the Final Order (as applicable) in respect of the Carve-Out, to grant any Lien other than Prepetition Agents’ Adequate Protection Liens upon or affecting any Collateral (other than a Lien to secure a Repayment Financing); (C) that (in the case of Borrowers,
any other Loan Party or any bankruptcy estate representative (which shall not include any Committee)), and except as expressly provided in the Interim Order or the Final Order, as the case may be, in respect of the
Carve-Out, to use cash collateral or Collateral of the Administrative Agent under section 363(c) of the Bankruptcy Code without the prior written consent of the Administrative Agent; (D) that (in the case
of any Borrower or any other Loan Party) requests or seeks authority for or that (in the case of an order entered by the Bankruptcy Court on account of a request by any Borrower or any other Loan Party) approves or provides authority to take any
other action or actions materially adverse to the Administrative Agent, the Lenders, or their rights and remedies hereunder or their interest in the Collateral or an of the Prepetition Agents, the Prepetition Holders, or their rights and remedies
under the Prepetition Note Documents or the Bankruptcy Court Orders or the interests of the Prepetition Agents or the Prepetition Holders in the Collateral; or (E) the entry of any order by the Bankruptcy Court in any Chapter 11 Case granting
relief as described in subclauses (A) through (D) of this clause (i)(i); 
 (ii) the filing by a Borrower of any
plan of reorganization or disclosure statement attendant thereto, or any direct or indirect amendment to such plan or disclosure statement, that does not provide for the payment (or cash collateralization) in full in cash of all Secured Obligations
hereunder and all Prepetition Obligations under the Prepetition Note Documents on the effective date of such plan, or the loss by Borrowers or any other Loan Party of the exclusive right to file and solicit acceptances of a plan of reorganization;

 (iii) the entry of an order in any of the Chapter 11 Cases confirming a plan or plans of reorganization that does not
contain a provision for termination of the Commitments and repayment (or cash collateralization) in full in cash of all of the Secured Obligations under this Agreement on or before the effective date of such plan or plans; 

(iv) the entry of an order amending, supplementing, staying, vacating or otherwise modifying the Loan Documents or the Interim
Order or the Final Order without the written consent of the Administrative Agent; 
 (v) the Interim Order is not entered
within three (3) Business Days following the Petition Date; 
 (vi) the Final Order is not entered on or before the date
that is 40 days after the Petition Date; 

  
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 (vii) the payment of, or application by Borrowers or any other Loan Party
for authority to pay, any pre-petition claim without the Administrative Agent’s prior written consent other than as provided in the Interim Order, the Final Order or any other order of the Bankruptcy
Court in form and substance reasonably acceptable to the Administrative Agent and as set forth in the Approved Budget or unless otherwise permitted under this Agreement; 

(viii) the appointment of an interim or permanent trustee in any Chapter 11 Case or the appointment of a receiver or an
examiner under section 1104 of the Bankruptcy Code in any Chapter 11 Case with expanded powers (beyond those set forth in sections 1106(a)(3) and 1106(a)(4) of the Bankruptcy Code) to operate or manage the financial affairs, the business, or
reorganization of Borrowers or with the power to conduct an investigation of (or compel discovery from) the Administrative Agent or Lenders or against the Prepetition Agents or Prepetition Holders; or a sale (other than the sale contemplated by a
Sale Order) without the Administrative Agent’s consent, of all or substantially all of Borrowers’ assets either through a sale under section 363 of the Bankruptcy Code, through a confirmed plan of reorganization in the Chapter 11 Cases, or
otherwise that does not provide for payment (or cash collateralization) in full in cash of the Secured Obligations hereunder, the termination of the Commitments and the payment in full in cash of all Prepetition Obligations under the Prepetition
Note Documents; 
 (ix) the dismissal of any Chapter 11 Case, or the conversion of any Chapter 11 Case from one under chapter
11 to one under chapter 7 of the Bankruptcy Code or Borrowers or any other Loan Party shall file a motion or other pleading seeking the dismissal of any Chapter 11 Case under section 1112 of the Bankruptcy Code or otherwise; 

(x) the entry of an order by the Bankruptcy Court granting relief from or modifying the automatic stay of section 362 of the
Bankruptcy Code (A) to allow any creditor to execute upon or enforce a Lien on any Collateral, or (B) with respect to any Lien on any Collateral of, or the granting of any Lien on any Collateral to, any state or local environmental or
regulatory agency or authority, which in either case would have a Material Adverse Effect; 
 (xi) the entry of an order in
any Chapter 11 Case avoiding or requiring disgorgement or repayment of any portion of the payments made on account of the Secured Obligations owing under this Agreement or the other Loan Documents or the Prepetition Obligations owing under the
Prepetition Notes or the other Prepetition Note Documents; 
 (xii) the failure of Borrowers to perform any of its material
obligations under the Interim Order or the Final Order or any violation of any of the material terms of the Interim Order or the Final Order; 

(xiii) the challenge by Borrowers, any other Loan Party or any Committee to the validity, extent, perfection or priority of any
Liens granted under the Prepetition Notes or any of the other Prepetition Note Documents, the Liens granted under the Loan Documents or the filing by any such Person of any claim or cause of action against the Administrative Agent, any Lender, any
Prepetition Agent or any Prepetition Holder, and in the case of any such challenge, claim or cause of action by any Committee, such challenge, claim or cause of action is not dismissed with prejudice or otherwise resolved to the satisfaction of the
Administrative Agent in its exclusive judgment prior to the Challenge Deadline (as defined in the Interim Order); 
 (xiv)
the remittance, use or application of the proceeds of Collateral other than in accordance in all material respects with the Approved Budget, the Bankruptcy Court Orders and this Agreement; or 

  
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 (xv) the entry of an order in any of the Chapter 11 Cases granting any other
super priority administrative claim or Lien (other than the Prepetition Agents’ Adequate Protection Liens and as are expressly set forth in the Interim Order and/or the Final Order (as applicable) with respect to the Carve-Out) equal or superior to that granted to the Administrative Agent, on behalf of itself and Lenders without the consent in writing of the Administrative Agent; 

then, and in every such event, and at any time thereafter during the continuance of such event, the Administrative Agent may, and at the request of the
Required Lenders shall, by notice to the Borrower’s Representative, take any or all of the following actions, at the same or different times: (i) terminate the Commitments, whereupon the Commitments shall terminate immediately;
(ii) declare the Loans then outstanding to be due and payable in whole (or in part, in which case any principal not so declared to be due and payable may thereafter be declared to be due and payable), whereupon the principal of the Loans so
declared to be due and payable, together with accrued interest thereon and all fees and other obligations of any Borrower accrued hereunder, shall become due and payable immediately, in each case without presentment, demand, protest or other notice
of any kind, all of which are hereby waived by the Borrower; (iii) increase the rate of interest applicable to the Loans and other Obligations as set forth in Section 2.09(c) of this Agreement; (iv) deliver a Carve-Out Trigger Notice; and (v) exercise any other rights and remedies provided to the Administrative Agent and the Lenders under the Loan Documents or at law or equity, including all remedies provided under
the UCC. 
 ARTICLE VIII 
 The
Administrative Agent 
 SECTION 8.01. Appointment. On the Closing Date, each Lender, on behalf of itself and any of its
Affiliates that are Secured Parties hereby irrevocably appoints the Administrative Agent as its agent and authorizes the Administrative Agent to take such actions on its behalf, including execution of the other Loan Documents, and to exercise such
powers as are delegated to the Administrative Agent by the terms of the Loan Documents, together with such actions and powers as are reasonably incidental thereto. In addition, to the extent required under the laws of any jurisdiction other than the
U.S., each of the Lenders hereby grant to the Administrative Agent any required powers of attorney to execute any Collateral Document governed by the laws of such jurisdiction on such Lender’s behalf. The provisions of this Article are solely
for the benefit of the Administrative Agent and the Lenders, and the Loan Parties 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” as used herein or
in any other Loan Documents (or any 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 independent contracting parties. 

SECTION 8.02. Rights as a Lender. The Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender
as any other Lender and may exercise the same as though it were not the Administrative Agent, and the term “Lender” or “Lenders” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the
Person serving as the Administrative Agent hereunder in its individual capacity. Such bank and its Affiliates may accept deposits from, lend money to, own securities of, act as the financial advisor or in any other advisory capacity for and
generally engage in any kind of business with any Loan Party or any Subsidiary or any Affiliate thereof as if it were not the Administrative Agent hereunder and without any duty to account therefor to the Lenders. 

  
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 SECTION 8.03. Duties and Obligations. The Administrative Agent shall not have any
duties or obligations except those expressly set forth in the Loan Documents, and its duties hereunder and thereunder shall be administrative in nature. Without limiting the generality of the foregoing, (a) the Administrative Agent shall not be
subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is continuing, (b) the Administrative Agent shall not have any duty to take any discretionary action or exercise any discretionary powers, except
discretionary rights and powers expressly contemplated by the Loan Documents that the Administrative Agent is required to exercise as directed in writing by the Required Lenders (or such other number or percentage of the Lenders as shall be
necessary under the circumstances as provided in Section 9.02); 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 applicable bankruptcy, reorganization, moratorium,
insolvency and similar laws affecting creditors’ rights generally or that may effect a forfeiture, modification or termination of property of a Defaulting Lender in violation of any applicable bankruptcy, reorganization, moratorium, insolvency
and similar laws affecting creditors’ rights generally, and (c) except as expressly set forth in the Loan Documents, the Administrative Agent shall not have any duty to disclose, and shall not be liable for the failure to disclose, any
information relating to any Loan Party or any Subsidiary that is communicated to or obtained by the bank serving as Administrative Agent or any of its Affiliates in any capacity. The Administrative Agent shall not be liable for any action taken or
not taken by it with the consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary, or as the Administrative Agent shall believe in good faith to be necessary, under the circumstances
as provided in Section 9.02 and Article VII) or in the absence of its own gross negligence or willful misconduct as determined by a final nonappealable judgment of a court of competent jurisdiction. The
Administrative Agent shall be deemed not to have knowledge of any Default unless and until written notice thereof is given to the Administrative Agent by any Borrower or a Lender, and the Administrative Agent shall not be responsible for or have any
duty to ascertain or inquire into (i) any statement, warranty or representation made in or in connection with any Loan Document, (ii) the contents of any certificate, report or other document delivered hereunder or in connection with any
Loan Document, (iii) the performance or observance of any of the covenants, agreements or other terms or conditions set forth in any Loan Document or the occurrence of any Default, (iv) the validity, enforceability, effectiveness or
genuineness of any Loan Document or any other agreement, instrument or document, (v) the creation, perfection or priority of Liens on the Collateral or the existence of the Collateral, or (vi) the satisfaction of any condition set forth in
Article IV or elsewhere in any Loan Document, other than to confirm receipt of items expressly required to be delivered to the Administrative Agent. 

SECTION 8.04. Reliance. The Administrative Agent shall be entitled to rely upon, and shall not incur any liability for relying upon,
any notice, request, certificate, consent, statement, instrument, document or other writing (including any electronic message, Internet or intranet website posting or other distribution) believed by it to be genuine and to have been signed, sent or
otherwise authenticated by the proper Person. The Administrative Agent also may rely upon any statement made to it orally or by telephone and believed by it to be made by the proper Person, and shall not incur any liability for relying thereon. In
determining compliance with any condition hereunder to the making of a Loan, that by its terms must be fulfilled to the satisfaction of a Lender, the Administrative Agent may presume that such condition is satisfactory to such Lender unless the
Administrative Agent shall have received notice to the contrary from such 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. 

SECTION 8.05. Actions through Sub-Agents. The Administrative Agent may perform any and all of
its duties and exercise its rights and powers under the Loan Documents 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 through their respective 

  
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 Related Parties. The exculpatory provisions of the preceding paragraphs 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 the 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. 
 SECTION 8.06. Resignation. Subject to the appointment and acceptance of a
successor Administrative Agent as provided in this paragraph, the Administrative Agent may resign at any time by notifying the Lenders and the Borrower. Upon any such resignation, the Required Lenders shall have the right, in consultation with the
Borrower, to appoint a successor. If no 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,
then the retiring Administrative Agent may, on behalf of the Lenders, appoint a successor Administrative Agent which shall be a Lender with an office in New York, New York, or an Affiliate of any such Lender. Upon the acceptance of its appointment
as Administrative Agent hereunder by its successor, such successor shall succeed to and become vested with all the rights, powers, privileges and duties of the retiring Administrative Agent, and the retiring Administrative Agent shall be discharged
from its duties and obligations hereunder and under the other Loan Documents. The fees payable by the Borrowers to a successor Administrative Agent shall be the same as those payable to its predecessor, unless otherwise agreed by the Borrowers and
such successor. Notwithstanding the foregoing, in the event no successor Administrative Agent shall have been so appointed and shall have accepted such appointment within thirty (30) days after the retiring Administrative Agent gives notice of
its intent to resign, the retiring Administrative Agent may give notice of the effectiveness of its resignation to the Lenders and the Borrower, whereupon, on the date of effectiveness of such resignation stated in such notice, (a) the retiring
Administrative Agent shall be discharged from its duties and obligations hereunder and under the other Loan Documents, provided that, solely for purposes of maintaining any security interest granted to the Administrative Agent under any Collateral
Document for the benefit of the Secured Parties, the retiring Administrative Agent shall continue to be vested with such security interest as collateral agent for the benefit of the Secured Parties and, in the case of any Collateral in the
possession of the Administrative Agent, shall continue to hold such Collateral, in each case until such time as a successor Administrative Agent is appointed and accepts such appointment in accordance with this paragraph (it being understood and
agreed that the retiring Administrative Agent shall have no duly or obligation to take any further action under any Collateral Document, including any action required to maintain the perfection of any such security interest), and (b) the
Required Lenders shall succeed to and become vested with all the rights, powers, privileges and duties of the retiring Administrative Agent, provided that (i) all payments required to be made hereunder or under any other Loan Document to the
Administrative Agent for the account of any Person other than the Administrative Agent shall be made directly to such Person and (ii) all notices and other communications required or contemplated to be given or made to the Administrative Agent
shall also directly be given or made to each Lender. Following the effectiveness of the Administrative Agent’s resignation from its capacity as such, the provisions of this Article, Section 2.12(d) and
Section 9.03, as well as any exculpatory, reimbursement and indemnification provisions set forth in any other Loan Document, shall continue in effect for the benefit of such retiring Administrative Agent, its sub-agents and their respective Related Parties in respect of any actions taken or omitted to be taken by any of them while it was acting as Administrative Agent and in respect of the matters referred to in the
proviso under clause (a) above. 

  
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 SECTION 8.07. Non-Reliance. 

(a) Each Lender acknowledges and agrees that the extensions of credit made hereunder are commercial loans and not investments in a business
enterprise or securities. Each Lender further represents that it is engaged in making, acquiring or holding commercial loans in the ordinary course of its business and has, independently and without reliance upon the Administrative Agent or any
other Lender and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement as a Lender, and to make, acquire or hold Loans hereunder. Each Lender shall, independently
and without reliance upon the Administrative Agent or any other Lender and based on such documents and information (which may contain material, non-public information within the meaning of the U.S. securities
laws concerning the Borrowers and any of their Affiliates) 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, any related
agreement or any document furnished hereunder or thereunder and in deciding whether or to the extent to which it will continue as a Lender or assign or otherwise transfer its rights, interests and obligations hereunder. 

(b) Each Lender hereby agrees that (i) it has requested a copy of each Report prepared by or on behalf of the Administrative Agent;
(ii) the Administrative Agent (A) makes no representation or warranty, express or implied, as to the completeness or accuracy of any Report or any of the information contained therein or any inaccuracy or omission contained in or relating
to a Report and (B) shall not be liable for any information contained in any Report; (iii) the Reports are not comprehensive audits or examinations, and that any Person performing any field examination will inspect only specific
information regarding the Loan Parties and will rely significantly upon the Loan Parties’ books and records, as well as on representations of the Loan Parties’ personnel and that the Administrative Agent undertakes no obligation to update,
correct or supplement the Reports; (iv) it will keep all Reports confidential and strictly for its internal use, not share the Report with any Loan Party or any other Person except as otherwise permitted pursuant to this Agreement; and
(v) without limiting the generality of any other indemnification provision contained in this Agreement, (A) it will hold the Administrative Agent and any such other Person preparing a Report harmless from any action the indemnifying Lender
may take or conclusion the indemnifying Lender may reach or draw from any Report in connection with any extension of credit that the indemnifying Lender has made or may make to the Borrower, or the indemnifying Lender’s participation in, or the
indemnifying Lender’s purchase of, a Loan or Loans; and (B) it will pay and protect, and indemnify, defend, and hold the Administrative Agent and any such other Person preparing a Report harmless from and against, the claims, actions,
proceedings, damages, costs, expenses, and other amounts (including reasonable attorneys’ fees) incurred by the Administrative Agent or any such other Person as the direct or indirect result of any third parties who might obtain all or part of
any Report through the indemnifying Lender. 
 SECTION 8.08. Other Agency Titles. None of the Lenders, if any, identified in this
Agreement as a syndication agent, documentation agent or managing agent shall have any right, power, obligation, liability, responsibility or duty under this Agreement other than those applicable to all Lenders as such. Without limiting the
foregoing, none of such Lenders shall have or be deemed to have a fiduciary relationship with any Lender. Each Lender hereby makes the same acknowledgments with respect to the relevant Lenders in their respective capacities as syndication agent,
documentation agent or managing agent as it makes with respect to the Administrative Agent in the preceding paragraph. 
 SECTION 8.09.
Not Partners or Co-Venturers; Administrative Agent as Representative of the Secured Parties. 

(a) The Lenders are not partners or co-venturers, and no Lender shall be liable for the acts or
omissions of, or (except as otherwise set forth herein in case of the Administrative Agent) authorized to act for, any other Lender. The Administrative Agent shall have the exclusive right on behalf of the Lenders to enforce the payment of the
principal of and interest on any Loan after the date such principal or interest has become due and payable pursuant to the terms of this Agreement. 

  
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 (b) In its capacity, the Administrative Agent is a “representative” of the Secured
Parties within the meaning of the term “secured party” as defined in the UCC. Each Lender authorizes the Administrative Agent to enter into each of the Collateral Documents to which it is a party and to take all action contemplated by such
documents. Each Lender agrees that no Secured Party (other than the Administrative Agent) shall have the right individually to seek to realize upon the security granted by any Collateral Document, it being understood and agreed that such rights and
remedies may be exercised solely by the Administrative Agent for the benefit of the Secured Parties upon the terms of the Collateral Documents. In the event that any Collateral is hereafter pledged by any Person as collateral security for the
Secured Obligations, the Administrative Agent is hereby authorized, and hereby granted a power of attorney, to execute and deliver on behalf of the Secured Parties any Loan Documents necessary or appropriate to grant and perfect a Lien on such
Collateral in favor of the Administrative Agent on behalf of the Secured Parties. 
 SECTION 8.10. No Other Duties, Etc. Anything
herein to the contrary notwithstanding, none of the syndication agents, documentation agents, co-agents, arrangers or bookrunners listed on the cover page hereof shall have any powers, duties or
responsibilities under this Agreement or any of the other Loan Documents, except in its capacity, as applicable, as the Administrative Agent or a Lender hereunder. 

ARTICLE IX 
 Miscellaneous

 SECTION 9.01. Notices. 

(a) Except in the case of notices and other communications expressly permitted to be given by telephone (and except as provided in paragraph
(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 facsimile or email as follows: 

(i) if to the Borrower, to Pareteum Corporation, 1185 Avenue of the Americas, 37th Floor, New York, NY 10036, Attention of
Laura Thomas, Interim Chief Financial Officer, Email laura.thomas@pareteum.com), with a copy to (i) King & Spalding LLP, as counsel to the Loan Parties, 1180 Peachtree Street, NE, Suite 1600, Atlanta, GA, 30309, attn: Thaddeus
Wilson, Esq. (thadwilson@kslaw.com) and Michael R. Handler, Esq. (mhandler@kslaw.com) and (ii) Togut, Segal & Segal, as counsel for the Loan Parties, One Pennsylvania Plaza Suite 3335, New York, NY 10119, attn: Frank Oswald, Esq.
(frankoswald@teamtogut.com); 
 (ii) if to the Administrative Agent, to Circles MVNE Pte. Ltd., at 221 Henderson Road #06-10, Henderson Building, Singapore 159557, Attention: Legal; Email legal@circles.asia), with a copy to DLA Piper LLP (US) as counsel for the Administrative Agent, 1251 Avenue of the Americas, 27th Floor, New York, New York 10020, attn: Jamila Justine Willis, Esq. (jamila.willis@us.dlapiper.com) and Shmuel Klahr, Esq. (shmuel.klahr@us.dlapiper.com); and 

(iii) if to any Lender, to it at its address (or telecopy number) set forth in its Administrative Questionnaire. 

Notices sent by hand or overnight courier service, or mailed by certified or registered mail, shall be deemed to have been given when
received; notices sent by facsimile 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). 

  
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 Unless the Administrative Agent otherwise prescribes, (i) notices and other
communications sent to an e-mail address shall be deemed received upon the sender’s receipt of an acknowledgement from the intended recipient (such as by the “return receipt requested” function,
as available, return e-mail or other written acknowledgement), and (ii) notices or communications posted to an Internet or intranet website shall be deemed received upon the deemed receipt by the intended
recipient, at its e-mail address as described in the foregoing clause (i), of notification that such notice or communication is available and identifying the website address therefor; provided that, for
both clauses (i) and (ii) above, if such notice, email or other communication is not sent during the normal business hours of the recipient, such notice or communication shall be deemed to have been sent at the opening of business on the next
business day for the recipient. 
 (b) Notices and other communications to the Lenders hereunder may be delivered or furnished by Electronic
Systems pursuant to procedures approved by the Administrative Agent; provided that the foregoing shall not apply to notices pursuant to Article II unless otherwise agreed by the Administrative Agent and the applicable Lender. Each of the
Administrative Agent and the Borrower Representative (on behalf of the Loan Parties) may, in its discretion, agree to accept notices and other communications to it hereunder by Electronic Systems 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 proscribes, all such notices and other communications (i) sent to an e-mail
address shall be deemed received upon the sender’s receipt of an acknowledgement from the intended recipient (such as by the “return receipt requested” function, as available, return e-mail or
other written acknowledgement), provided that if not given during the normal business hours of the recipient, shall be deemed to have been given at the opening of business on the next Business Day for the recipient, and (ii) posted to an
Internet or intranet website shall be deemed received upon the deemed receipt by the intended recipient, at its e-mail address as described in the foregoing clause (i), of notification that such notice or
communication is available and identifying the website address therefor; provided that, for both clauses (i) and (ii) above, if such notice, e-mail or other communication is not sent during the normal
business hours of the recipient, such notice or communication shall be deemed to have been sent at the opening of business on the next Business Day of the recipient. 

(c) Any party hereto may change its address, facsimile number or e-mail address for notices and other
communications hereunder by notice to the other parties hereto. All notices and other communications given to any party hereto in accordance with the provisions of this Agreement shall be deemed to have been given on the date of receipt. 

(d) Electronic Systems. 

(i) Each Loan Party agrees that the Administrative Agent may, but shall not be obligated to, make Communications (as defined
below) available to the Lenders by posting the Communications on Debt Domain, Intralinks, Syndtrak, ClearPar or a substantially similar Electronic System. 

(ii) Any Electronic System used by the Administrative Agent is provided “as is” and “as available.” The
Agent Parties (as defined below) do not warrant the adequacy of such Electronic Systems and expressly disclaim liability for errors or omissions in the Communications. No warranty of any kind, express, implied or statutory, including any warranty of
merchantability, fitness for a particular purpose, non-infringement of third-party rights or freedom from viruses or other code defects, is made by any Agent Party in connection with the Communications or any
Electronic System. In no event shall the Administrative Agent or any of its Related Parties (each, an “Agent Party”; and collectively, the “Agent Parties”) have any liability to the Loan Parties, any Lender or any
other Person or entity for damages of any kind, including direct or indirect, special, 

  
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 incidental or consequential damages, losses or expenses (whether in tort, contract or
otherwise) arising out of the Borrower’s, any Loan Party’s or the Administrative Agent’s transmission of communications through an Electronic System. “Communications” means, collectively, any notice, demand,
communication, information, document or other material provided by or on behalf of any Loan Party pursuant to any Loan Document or the transactions contemplated therein which is distributed by the Administrative Agent or any Lender by means of
electronic communications pursuant to this Section, including through an Electronic System. 
 SECTION 9.02. Waivers; Amendments.

 (a) No failure or delay by the Administrative Agent or any Lender in exercising any right or power hereunder or under any other Loan
Document shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such a right or power, preclude any other or further exercise thereof or the
exercise of any other right or power. The rights and remedies of the Administrative Agent and the Lenders hereunder and under any other Loan Document are cumulative and are not exclusive of any rights or remedies that they would otherwise have. No
waiver of any provision of any Loan Document or consent to any departure by any Loan Party therefrom shall in any event be effective unless the same shall be permitted by paragraph (b) of this Section, and then such waiver or consent shall be
effective only in the specific instance and for the purpose for which given. Without limiting the generality of the foregoing, the making of a Loan shall not be construed as a waiver of any Default, regardless of whether the Administrative Agent,
any Lender may have had notice or knowledge of such Default at the time. 
 (b) Neither this Agreement nor any provision hereof may be
waived, amended or modified except pursuant to an agreement or agreements in writing entered into by the Borrowers and the Required Lenders; provided that no such agreement shall (A) increase the Commitment of any Lender without the written
consent of such Lender (including any such Lender that is a Defaulting Lender), (B) reduce or forgive the principal amount of any Loan or reduce the rate of interest thereon, or reduce or forgive any interest or fees payable hereunder, without the
written consent of each Lender (including any such Lender that is a Defaulting Lender) directly affected thereby, (C) other than as contemplated by Section 2.04, postpone any scheduled date of payment of the principal
amount of any Loan, or any date for the payment of any interest, fees or other Obligations payable hereunder, or reduce the amount of, waive or excuse any such payment, or postpone the scheduled date of expiration of any Commitment, without the
written consent of each Lender (including any such Lender that is a Defaulting Lender) directly affected thereby, (D) change Section 2.13(b) or (d) in a manner that would alter the manner in which payments
are shared, without the written consent of each Lender (other than any Defaulting Lender), (E) change any of the provisions of this Section or the definition of “Required Lenders” or any other provision of any Loan Document specifying the
number or percentage of Lenders required to waive, amend or modify any rights thereunder or make any determination or grant any consent thereunder, without the written consent of each Lender (other than any Defaulting Lender) directly affected
thereby, (F) change Section 2.15, without the consent of each Lender (other than any Defaulting Lender), (G) release any Loan Guarantor from its obligation under its Loan Guaranty (except as otherwise permitted herein
or in the other Loan Documents), without the written consent of each Lender (other than any Defaulting Lender), or (H) except as provided in clause (c) of this Section or in any Collateral Document, release all or substantially all of the
Collateral without the written consent of each Lender (other than any Defaulting Lender); provided further that no such agreement shall amend, modify or otherwise affect the rights or duties of the Administrative Agent without the prior written
consent of the Administrative Agent. The Administrative Agent may also amend Schedule 2.01 to reflect assignments entered into pursuant to Section 9.04. Notwithstanding the foregoing, no consent with respect to any
amendment, waiver or other modification of this Agreement shall be required of any Defaulting Lender, except with respect to any amendment, waiver or other modification referred to in clause (A), (B) or (C) of the first proviso of this
paragraph and then only in the event such Defaulting Lender shall be directly affected by such amendment, waiver or other modification. 
  

  
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 (c) The Lenders hereby irrevocably authorize the Administrative Agent, at its option and in
its sole discretion, to release any Liens granted to the Administrative Agent by the Loan Parties on any Collateral (i) upon the termination of all of the Commitments, payment and satisfaction in full in cash of all Secured Obligations (other
than Unliquidated Obligations), and the cash collateralization of all Unliquidated Obligations in a manner satisfactory to each affected Lender, (ii) constituting property being sold or disposed of if the Loan Party disposing of such property
certifies to the Administrative Agent that the sale or disposition is made in compliance with the terms of this Agreement (and the Administrative Agent may rely conclusively on any such certificate, without further inquiry), and to the extent that
the property being sold or disposed of constitutes 100% of the Equity Interests of a Subsidiary or 100% of the assets owned by such Subsidiary, and the Administrative Agent is hereby authorized to release any Loan Guaranty provided by such
Subsidiary, (iii) constituting property leased to a Loan Party under a lease which has expired or been terminated in a transaction permitted under this Agreement, or (iv) as required to effect any sale or other disposition of such
Collateral in connection with any exercise of remedies of the Administrative Agent and the Lenders pursuant to Article VII. Except as provided in the preceding sentence, the Administrative Agent will not release any Liens on Collateral
without the prior written authorization of the Required Lenders. Any such release shall not in any manner discharge, affect, or impair the Obligations or any Liens (other than those expressly being released) upon (or obligations of the Loan Parties
in respect of) all interests retained by the Loan Parties, including the proceeds of any sale, all of which shall continue to constitute part of the Collateral. Any execution and delivery by the Administrative Agent of documents in connection with
any such release shall be without recourse to or warranty by the Administrative Agent. 
 (d) If, in connection with any proposed amendment,
waiver or consent requiring the consent of “each Lender” or “each Lender directly affected thereby,” the consent of the Required Lenders is obtained, but the consent of other necessary Lenders is not obtained (any such Lender
whose consent is necessary but has not been obtained being referred to herein as a “Non-Consenting Lender”), then the Borrowers may elect to replace a
Non-Consenting Lender as a Lender party to this Agreement, provided that, concurrently with such replacement, (i) another bank or other entity which is reasonably satisfactory to the Borrowers, the
Administrative Agent shall agree, as of such date, to purchase for cash the Loans and other Obligations due to the Non-Consenting Lender pursuant to an Assignment and Assumption and to become a Lender for all
purposes under this Agreement and to assume all obligations of the Non-Consenting Lender to be terminated as of such date and to comply with the requirements of clause (b) of
Section 9.04, and (ii) the Borrowers shall pay to such Non-Consenting Lender in same day funds on the day of such replacement all interest, fees and other amounts then accrued
but unpaid to such Non-Consenting Lender by the Borrowers hereunder to and including the date of termination, including without limitation payments due to such
Non-Consenting Lender under Section 2.12. 
 (e) Notwithstanding the
foregoing, this Agreement and any other Loan Document may be amended (or amended and restated) with the written consent of the Required Lenders, the Administrative Agent and the Borrowers (x) to add one or more credit facilities to this
Agreement and to permit extensions of credit from time to time outstanding thereunder and the accrued interest and fees in respect thereof to share ratably in the benefits of this Agreement and the other Loan Documents with the Loans and the accrued
interest and fees in respect thereof and (y) to include appropriately the Lenders holding such credit facilities in any determination of the Required Lenders and Lenders. 

(f) Notwithstanding anything to the contrary herein the Administrative Agent may, with the consent of the Borrower Representative only, amend,
modify or supplement this Agreement or any of the other Loan Documents to cure any ambiguity, omission, mistake, defect or inconsistency. 

  
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 SECTION 9.03. Expenses; Indemnity; Damage Waiver. 

(a) The Borrowers shall pay (i) all reasonable
out-of-pocket expenses incurred by the Administrative Agent and its Affiliates (limited, in the case of counsel, to the reasonable fees, charges and disbursements of one
primary counsel and one additional local counsel in each applicable jurisdiction for the Administrative Agent and its Affiliates) in connection with the syndication and distribution (including, without limitation, via the internet or through a
service such as Intralinks) of the credit facilities provided for herein, the preparation 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), and (ii) all out-of-pocket expenses incurred by the Administrative Agent or any Lender
and all reasonable out-of-pocket expenses incurred by advisors and other professionals hired by the Administrative Agent (limited, in the case of counsel, to the fees,
charges and disbursements of one primary counsel and one additional local counsel in each applicable jurisdiction for the Administrative Agent and one additional counsel for all of the Lenders and additional counsel in light of actual or potential
conflicts of interest or the availability of different claims or defenses) in connection with the enforcement or protection of its rights in connection with this Agreement and any other Loan Document, including its rights under this Section, or in
connection with the Loans made, including all such out-of-pocket expenses incurred during any workout, restructuring or negotiations in respect of such Loans. 

(b) The Borrowers shall indemnify the Administrative Agent, each 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 or asserted against any Indemnitee arising out of, in connection with, or as a result of (i) the execution or delivery of any Loan Document or any agreement or instrument contemplated thereby, the performance by the
parties hereto of their respective obligations thereunder or the consummation of the Transactions or any other transactions contemplated hereby, (ii) any Loan or the use of the proceeds therefrom, (iii) the failure of a Loan Party to
deliver to the Administrative Agent the required receipts or other required documentary evidence with respect to a payment made by such Loan Party for Taxes pursuant to Section 2.12 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 any Borrower or any of its Subsidiaries, and regardless of whether any
Indemnitee is a party thereto; provided that such indemnity shall not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related expenses are determined by a court of competent jurisdiction by
final and nonappealable judgment to have resulted from (x) the gross negligence or willful misconduct of such Indemnitee or (y) a material breach in bad faith by such Indemnitee of its express obligations under the Loan Documents pursuant
to a claim initiated by the Borrower. This Section 9.03(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims or damages arising from any non-Tax
claim. 
 (c) To the extent that any Loan Party fails to pay any amount required to be paid by it to the Administrative Agent (or any sub-agent thereof or any Related Party of any of the foregoing) under paragraph (a) or (b) of this Section, each Lender severally agrees to pay to the Administrative Agent (or any such Related Party), as the
case may be, such Lender’s Applicable Percentage (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought) of such unpaid amount (it being understood that a Borrower’s failure to pay any such
amount shall not relieve such Borrower of any default in the payment thereof); provided that the unreimbursed expense or indemnified loss, claim, damage, penalty, liability or related expense, as the case may be, was incurred by or asserted
against the Administrative Agent. 

  
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 (d) To the extent permitted by applicable law, no Loan Party shall assert, and each Loan
Party hereby waives, any claim against any Indemnitee, (i) for any damages arising from the use by others of information or other materials obtained through telecommunications, electronic or other information transmission systems (including the
Internet), or (ii) 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 or thereby, the Transactions, any Loan or the use of the proceeds thereof. 
 (e) All
amounts due under this Section shall be payable not later than fifteen (15) days after written demand therefor. 
 SECTION 9.04.
Successors and Assigns. (a) The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns permitted hereby, except that (i) no Borrower may assign
or otherwise transfer any of its rights or obligations hereunder without the prior written consent of each Lender (and any attempted assignment or transfer by any Borrower without such consent shall be null and void) and (ii) no Lender may
assign or otherwise transfer its rights or obligations hereunder except in accordance with this Section. 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 paragraph (c) of this Section) and, to the extent expressly contemplated hereby, the Related Parties of each of the Administrative Agent and the Lenders) any legal
or equitable right, remedy or claim under or by reason of this Agreement. 
 (b) (i) Subject to the conditions set forth in paragraph
(b)(ii) below, any Lender may assign to one or more Persons all or a portion of its rights and obligations under this Agreement (including all or a portion of its Commitment and the Loans at the time owing to it) with the prior written consent (such
consent not to be unreasonably withheld) of: 
 (A) the Borrowers; provided that the Borrowers shall be deemed to
have consented to any such assignment unless the Borrower Representative shall object thereto by written notice to the Administrative Agent within five (5) Business Days after having received notice thereof, and provided, further
that no consent of any Borrower shall be required for an assignment to a Lender or an Affiliate of a Lender or, if an Event of Default has occurred and is continuing, any other assignee; and 

(B) the Administrative Agent; provided that no consent of the Administrative Agent shall be required for an assignment
of all or any portion of Loans or Commitments to a Lender hereunder. 
 (ii) Assignments shall be subject to the following additional
conditions: 
 (A) except in the case of an assignment to a Lender or an assignment of the entire remaining amount of the
assigning Lender’s Commitment or Loans, the amount of the Commitment or 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) shall not be less than $250,000 unless each of the Borrower Representative and the Administrative Agent otherwise consent; provided that no such consent of the Borrower Representative shall be required if an Event of
Default has occurred and is continuing; 

  
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 (B) each partial assignment shall be made as an assignment of a
proportionate part of all the assigning Lender’s rights and obligations under this Agreement; and 
 (C) the assignee,
if it shall not be a Lender, shall deliver to the Administrative Agent an Administrative Questionnaire in which the assignee designates one or more credit contacts to whom all syndicate-level information (which may contain material non-public information about the Borrower, the other Loan Parties and their Related Parties or their respective securities) will be made available and who may receive such information in accordance with the
assignee’s compliance procedures and applicable laws, including federal and state securities laws. 
 (iii) Subject to
acceptance and recording thereof pursuant to paragraph (b)(iv) of this Section, from and after the effective date specified in each Assignment and Assumption, the assignee thereunder shall be a party hereto and, to the extent of the interest
assigned by such Assignment and Assumption, have the rights and obligations of a Lender under this Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its
obligations under this Agreement (and, in the case of an Assignment and Assumption covering all of the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto but shall continue to be
entitled to the benefits of Sections 2.12 and 9.03). Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this Section 9.04 shall be treated for
purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with paragraph (c) of this Section. 

(iv) The Administrative Agent, acting for this purpose as a non-fiduciary agent of the
Borrowers, shall maintain at one of its offices a copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and addresses of the Lenders, and the Commitment of, and principal amount (and stated interest)
of the Loans owing to, each Lender pursuant to the terms hereof from time to time (the “Register”). The entries in the Register shall be conclusive, and the Borrowers, the Administrative Agent and the Lenders shall treat each Person
whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. The Register shall be available for inspection by any Borrower and any Lender, at
any reasonable time and from time to time upon reasonable prior notice. 
 (v) Upon its receipt of a duly completed
Assignment and Assumption executed by an assigning Lender and an assignee, the assignee’s completed Administrative Questionnaire (unless the assignee shall already be a Lender hereunder), the processing and recordation fee referred to in
paragraph (b) of this Section and any written consent to such assignment required by paragraph (b) of this Section, the Administrative Agent shall accept such Assignment and Assumption and record the information contained therein in the
Register; provided that if either the assigning Lender or the assignee shall have failed to make any payment required to be made by it pursuant to Section 2.05(b), 2.13(d) or 9.03(c), the Administrative
Agent shall have no obligation to accept such Assignment and Assumption and record the information therein in the Register unless and until such payment shall have been made in full, together with all accrued interest thereon. No assignment shall be
effective for purposes of this Agreement unless it has been recorded in the Register as provided in this paragraph. 

  
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 (c) Any Lender may, without the consent of the Borrower or the Administrative Agent, sell
participations to one or more banks or other entities (a “Participant”) in all or a portion of such Lender’s rights and obligations under this Agreement (including all or a portion of its Commitment and the Loans owing to it);
provided that (i) such Lender’s obligations under this Agreement shall remain unchanged; (ii) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations; and (iii) the
Borrower, the Administrative Agent and the other Lenders shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under this Agreement. Any agreement or instrument pursuant to which a
Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; provided that such agreement or
instrument may provide that such Lender will not, without the consent of the Participant, agree to any amendment, modification or waiver described in the first proviso to Section 9.02(b) that affects such Participant. The
Borrower agrees that each Participant shall be entitled to the benefits of Section 2.12 (subject to the requirements and limitations therein, including the requirements under Sections 2.12(f) and (g) (it being
understood that the documentation required under Section 2.12(f) shall be delivered to the participating Lender and the information and documentation required under Section 2.12(g) will be
delivered to the Borrower Representative and the Administrative Agent)) to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to paragraph (b) of this Section; provided that such Participant
(A) agrees to be subject to the provisions of Sections 2.13 and 2.14 as if it were an assignee under paragraph (b) of this Section; and (B) shall not be entitled to receive any greater payment under
Section 2.12 with respect to any participation than its participating Lender 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 Lender that sells a participation agrees, at the Borrowers’
request and expense, to use reasonable efforts to cooperate with the Borrowers to effectuate the provisions of Section 2.14(b) with respect to any Participant. To the extent permitted by law, each Participant also shall be
entitled to the benefits of Section 9.08 as though it were a Lender, provided such Participant agrees to be subject to Section 2.13(d) as though it were a Lender. Each Lender that sells a participation
shall, acting solely for this purpose as a non-fiduciary agent of the Borrowers, 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 this Agreement or any other Loan Document (the “Participant Register”); provided that no Lender shall have any obligation to disclose all or any
portion of the Participant Register (including the identity of any Participant or any information relating to a Participant’s interest in any Commitments, Loans, 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 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. 

(d) Any Lender may at any time pledge or assign a security interest in all or any portion of its rights under this Agreement to secure
obligations of such Lender, including without limitation any pledge or assignment to secure obligations to a Federal Reserve Bank, and this Section shall not apply to any such pledge or assignment of a security interest; provided that no such
pledge or assignment of a security interest shall release a Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto. 

SECTION 9.05. Survival. All covenants, agreements, representations and warranties made by the Loan Parties in the Loan Documents and in
the certificates or other instruments delivered in connection with or pursuant to this Agreement or any other Loan Document shall be considered to have been relied upon by the other parties hereto and shall survive the execution and delivery of the
Loan 

  
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 Documents and the making of any Loans, regardless of any investigation made by any such other party or on
its behalf and notwithstanding that the Administrative Agent or any Lender may have had notice or knowledge of any Default or incorrect representation or warranty at the time any credit is extended hereunder, and shall continue in full force and
effect as long as the principal of or any accrued interest on any Loan or any fee or any other amount payable under this Agreement is outstanding and unpaid and so long as the Commitments have not expired or terminated. The provisions of Sections
2.12 and 9.03 and Article VIII shall survive and remain in full force and effect regardless of the consummation of the transactions contemplated hereby, the repayment of the Loans, the expiry of the Commitments or the termination
of this Agreement or any other Loan Document or any provision hereof or thereof. 
 SECTION 9.06. Counterparts; Integration;
Effectiveness; Electronic Execution. (a) This Agreement may be executed in counterparts (and by different parties hereto on different counterparts), each of which shall constitute an original, but all of which when taken together shall
constitute a single contract. This Agreement, the other Loan Documents and any separate letter agreements with respect to fees payable to the Administrative Agent 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 which, when taken together, bear the signatures of each of the other parties hereto, and thereafter shall be binding upon and inure to the
benefit of the parties hereto and their respective successors and assigns. 
 (b) Delivery of an executed counterpart of a signature page of
this Agreement by telecopy, emailed pdf. or any other electronic means that reproduces an image of the actual executed signature page shall be effective as delivery of a manually executed counterpart of this Agreement. The words
“execution,” “signed,” “signature,” “delivery,” and words of like import in or relating to any document to be signed in connection with this Agreement and the transactions contemplated hereby or thereby shall
be deemed to include Electronic Signatures, deliveries or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature, physical delivery thereof or the use
of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records
Act, or any other similar state laws based on the Uniform Electronic Transactions Act. 
 SECTION 9.07. Severability. Any provision
of any Loan Document held to be invalid, illegal or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the validity, legality and
enforceability of the remaining provisions thereof; and the invalidity of a particular provision in a particular jurisdiction shall not invalidate such provision in any other jurisdiction. 

SECTION 9.08. Right of Setoff. If an Event of Default shall have occurred and be continuing, each Lender and each of its Affiliates is
hereby authorized at any time and from time to time, to the fullest extent permitted by law, to set off and apply any and all deposits (general or special, time or demand, provisional or final) at any time held and other obligations at any time
owing by such Lender or Affiliate to or for the credit or the account of any Loan Party against any of and all the Secured Obligations held by such Lender, irrespective of whether or not such Lender shall have made any demand under the Loan
Documents and although such obligations may be unmatured. The applicable Lender shall notify the Borrowers and the Administrative Agent of such set-off or application, provided that any failure to give
or any delay in giving such notice shall not affect the validity of any such set-off or application under this Section. The rights of each Lender under this Section are in addition to other rights and remedies
(including other rights of setoff) which such Lender may have. 

  
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 SECTION 9.09. Governing Law; Jurisdiction; Consent to Service of Process. 

(a) The Loan Documents (other than those containing a contrary express choice of law provision) shall be governed by and construed in
accordance with the internal laws (and not the law of conflicts) of the State of New York. 
 (b) Each Loan Party hereby irrevocably and
unconditionally submits, for itself and its property, to the exclusive jurisdiction of the Bankruptcy Court. Each of the parties hereto agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other
jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in this Agreement or any other Loan Document shall affect any right that the Administrative Agent or any Lender may otherwise have following delivery of a notice
to bring any action or proceeding relating to this Agreement or any other Loan Document against any Loan Party or its properties in the courts of any jurisdiction. 

(c) Each Loan Party hereby irrevocably and unconditionally waives, to the fullest extent it may legally and effectively do so, any objection
which it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Agreement or 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 law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court. 

(d) Each party to this Agreement irrevocably consents to service of process in the manner provided for notices in
Section 9.01. Nothing in this Agreement or any other Loan Document will affect the right of any party to this Agreement to serve process in any other manner permitted by law. 

SECTION 9.10. WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT
MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT, 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 OR OTHER AGENT (INCLUDING ANY ATTORNEY) OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE
FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION. 

SECTION 9.11. Headings. Article and Section headings and the Table of Contents used herein are for convenience of reference only, are
not part of this Agreement and shall not affect the construction of, or be taken into consideration in interpreting, this Agreement. 

SECTION 9.12. Confidentiality. Each of the Administrative Agent and the Lenders agrees to maintain the confidentiality of the
Information (as defined below), except that Information may be disclosed (a) to its and its Affiliates’ directors, officers, employees and agents, including accountants, legal counsel and other advisors (it being understood that the
Persons to whom such disclosure is made will be informed of the confidential nature of such Information and instructed to keep such Information confidential), (b) to the extent requested by any regulatory authority (including any self-regulatory
authority, such as the National Association of Insurance Commissioners), (c) to the extent required by any Requirement of Law or by any subpoena or similar legal process, (d) to any other party to this Agreement, (e) in connection with the
exercise of any remedies hereunder or under any other Loan Document or any 

  
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 suit, 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 (x) any assignee of or Participant in, or any prospective assignee of or Participant in, any of its
rights or obligations under this Agreement or (y) any actual or prospective counterparty (or its advisors) to any swap or derivative transaction relating to the Loan Parties and their obligations, (g) with the consent of the Borrowers or
(h) to the extent such Information (x) becomes publicly available other than as a result of a breach of this Section or (y) becomes available to the Administrative Agent or any Lender on a
non-confidential basis from a source other than the Borrowers. For the purposes of this Section, “Information” means all information received from the Borrowers relating to the Borrowers or
their businesses, other than any such information that is available to the Administrative Agent or any Lender on a non-confidential basis prior to disclosure by the Borrowers and other than information
pertaining to this Agreement routinely provided by arrangers to data service providers, including league table providers, that serve the lending industry; provided that, in the case of information received from the Borrowers after the date
hereof, such information is clearly identified at the time of delivery as confidential. Any Person required to maintain the confidentiality of Information as provided in this Section shall be considered to have complied with its obligation to do so
if such Person has exercised the same degree of care to maintain the confidentiality of such Information as such Person would accord to its own confidential information. 

EACH LENDER ACKNOWLEDGES THAT INFORMATION AS DEFINED IN THE IMMEDIATELY PRECEDING PARAGRAPH FURNISHED TO IT PURSUANT TO THIS AGREEMENT MAY
INCLUDE MATERIAL NON-PUBLIC INFORMATION CONCERNING THE BORROWER AND ITS RELATED PARTIES OR THEIR RESPECTIVE SECURITIES, AND CONFIRMS THAT IT HAS DEVELOPED COMPLIANCE PROCEDURES REGARDING THE USE OF MATERIAL NON-PUBLIC INFORMATION AND THAT IT WILL HANDLE SUCH MATERIAL NON-PUBLIC INFORMATION IN ACCORDANCE WITH THOSE PROCEDURES AND APPLICABLE LAW, INCLUDING FEDERAL AND STATE
SECURITIES LAWS. 
 ALL INFORMATION, INCLUDING REQUESTS FOR WAIVERS AND AMENDMENTS, FURNISHED BY THE BORROWERS OR THE ADMINISTRATIVE AGENT
PURSUANT TO, OR IN THE COURSE OF ADMINISTERING, THIS AGREEMENT WILL BE SYNDICATE-LEVEL INFORMATION, WHICH MAY CONTAIN MATERIAL NON-PUBLIC INFORMATION ABOUT THE BORROWERS, THE OTHER LOAN PARTIES AND THEIR
RELATED PARTIES OR THEIR RESPECTIVE SECURITIES. ACCORDINGLY, EACH LENDER REPRESENTS TO THE BORROWER AND THE ADMINISTRATIVE AGENT THAT IT HAS IDENTIFIED IN ITS ADMINISTRATIVE QUESTIONNAIRE A CREDIT CONTACT WHO MAY RECEIVE INFORMATION THAT MAY CONTAIN
MATERIAL NON-PUBLIC INFORMATION IN ACCORDANCE WITH ITS COMPLIANCE PROCEDURES AND APPLICABLE LAW. 

SECTION 9.13. Several Obligations; Nonreliance; Violation of Law. The respective obligations of the Lenders hereunder are several and
not joint and the failure of any Lender to make any Loan or perform any of its obligations hereunder shall not relieve any other Lender from any of its obligations hereunder. Each Lender hereby represents that it is not relying on or looking to any
margin stock (as defined in Regulation U of the Board) for the repayment of the Borrowings provided for herein. Anything contained in this Agreement to the contrary notwithstanding, no Lender shall be obligated to extend credit to the Borrowers in
violation of any Requirement of Law. 
 SECTION 9.14. USA PATRIOT Act. Each Lender that is subject to the requirements of the USA
PATRIOT Act hereby notifies each Loan Party that pursuant to the requirements of the USA PATRIOT Act, it is required to obtain, verify and record information that identifies such Loan Party, which information includes the name and address of such
Loan Party and other information that will allow such Lender to identify such Loan Party in accordance with the USA PATRIOT Act. 

  
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 SECTION 9.15. Disclosure. Each Loan Party and each Lender hereby acknowledges and
agrees that the Administrative Agent and/or its Affiliates from time to time may hold investments in, make other loans to or have other relationships with, any of the Loan Parties and their respective Affiliates. 

SECTION 9.16. Appointment for Perfection. Each Lender hereby appoints each other Lender as its agent for the purpose of perfecting
Liens, for the benefit of the Administrative Agent and the Secured Parties, in assets which, in accordance with Article 9 of the UCC or any other applicable law can be perfected only by possession or control. Should any Lender (other than the
Administrative Agent) obtain possession or control of any such Collateral, such Lender shall notify the Administrative Agent thereof, and, promptly upon the Administrative Agent’s request therefor shall deliver such Collateral to the
Administrative Agent or otherwise deal with such Collateral in accordance with the Administrative Agent’s instructions. 
 SECTION
9.17. Interest Rate Limitation. Notwithstanding anything herein to the contrary, if at any time the interest rate applicable to any Loan, together with all fees, charges and other amounts which are treated as interest on such Loan under
applicable law (collectively the “Charges”), shall exceed the maximum lawful rate (the “Maximum Rate”) which may be contracted for, charged, taken, received or reserved by the Lender holding such Loan in accordance
with applicable law, the rate of interest payable in respect of such Loan hereunder, together with all Charges payable in respect thereof, shall be limited to the Maximum Rate and, to the extent lawful, the interest and Charges that would have been
payable in respect of such Loan but were not payable as a result of the operation of this Section shall be cumulated and the interest and Charges payable to such Lender in respect of other Loans or periods shall be increased (but not above the
Maximum Rate therefor) until such cumulated amount, together with interest thereon at the Federal Funds Effective Rate to the date of repayment, shall have been received by such Lender. 

SECTION 9.18. No Advisory or Fiduciary Responsibility. In connection with all aspects of each transaction contemplated hereby
(including in connection with any amendment, waiver or other modification hereof or of any other Loan Document), each Borrower acknowledges and agrees that: (i) (A) the arranging and other services regarding this Agreement provided by the
Lenders are arm’s-length commercial transactions between each Borrower and its Affiliates, on the one hand, and the Lenders and their Affiliates, on the other hand, (B) each Borrower has consulted
its own legal, accounting, regulatory and tax advisors to the extent it has deemed appropriate, and (C) each Borrower is capable of evaluating, and understands and accepts, the terms, risks and conditions of the transactions contemplated hereby
and by the other Loan Documents; (ii) (A) each of the Lenders and their Affiliates is and has been acting solely as a principal and, except as expressly agreed in writing by the relevant parties, has not been, is not, and will not be acting as
an advisor, agent or fiduciary for any Borrower or any of its Affiliates, or any other Person and (B) no Lender or any of its Affiliates has any obligation to any Borrower or any of its Affiliates with respect to the transactions contemplated
hereby except, in the case of a Lender, those obligations expressly set forth herein and in the other Loan Documents; and (iii) each of the Lenders and their respective Affiliates may be engaged in a broad range of transactions that involve
interests that differ from those of any Borrower and its Affiliates, and no Lender or any of its Affiliates has any obligation to disclose any of such interests to the Borrowers or their Affiliates. To the fullest extent permitted by law, each
Borrower hereby waives and releases any claims that it may have against each of the Lenders and their Affiliates with respect to any breach or alleged breach of agency or fiduciary duty in connection with any aspect of any transaction contemplated
hereby. 
 SECTION 9.19. Marketing Consent. The Borrower hereby authorizes the Administrative Agent and its Affiliates (collectively,
the “Marketing Parties”), at their respective sole expense, but without any prior approval by the Borrower, to include the Borrower’s name and logo in advertising slicks posted on its internet site, in pitchbooks or sent in
mailings to prospective customers and to give such other 

  
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 publicity in this Agreement containing only information that has already been publicly disclosed as each may
from time to time determine in its sole discretion. Notwithstanding the foregoing, the Marketing Parties shall not publish the Borrower’s name in a newspaper or magazine without obtaining the Borrower’s prior written approval. The
foregoing authorization shall remain in effect unless the Borrower Representative notifies the Administrative Agent in writing that such authorization is revoked. 

SECTION 9.20. Joint and Several Liability; Borrower Representative 

(a) Each Borrower hereby directs the Administrative Agent to disburse the proceeds of each Loan as specified by the Borrower Representative,
and such distribution will, in all circumstances, be deemed to be made to, or at the direction of, each Borrower. Each Borrower hereby irrevocably designates, appoints, authorizes and directs the Borrower Representative to act on behalf of such
Borrower for the purposes set forth in this Section 9.20, and to act on behalf of such Borrower for purposes of requesting Loans hereunder and for otherwise giving and receiving notices and certifications under this
Agreement or any other Loan Document and otherwise for taking all other action contemplated to be taken by the Borrower Representative hereunder or under any other Loan Document. Each Borrower further appoints the Borrower Representative as its
agent for any service of process. The Administrative Agent is entitled to rely and act on the instructions of the Borrower Representative on behalf of each Borrower. Each Borrower covenants and agrees to assume joint and several liability for and to
protect, indemnify and hold harmless the Administrative Agent and the Lenders from any and all liabilities, obligations, damages, penalties, claims, causes of action, costs, charges and expenses (including without limitation, attorneys’ fees),
which may be incurred by, imposed or asserted against the Administrative Agent or any Lender, howsoever arising or incurred because of, out of or in connection with the disbursements of the Loans in accordance with this
Section 9.20; provided that the liability of the Borrowers pursuant to this indemnity shall not extend to any liability, obligation, damage, penalty, claim, cause of action, cost, charge or expense determined by a
court of competent jurisdiction by a final and nonappealable judgment to have resulted from the gross negligence or willful misconduct of the Administrative Agent or any Lender. The Borrower Representative shall maintain detailed books and records
of all disbursements and payments made to each Borrower with respect to proceeds of Loans. Not in any way in limitation of any other provisions set forth herein, such books and records may be reviewed and copied by the Administrative Agent in
accordance with any inspection under Section 5.04. 
 (b) Notwithstanding Article X or any other provision
of this Agreement, each Borrower shall be jointly and severally liable with each other Borrower for all Loans and all other Obligations, without regard to the identity of the Borrower in whose name any Loan is made or Obligation is incurred. 

(c) The Obligations of each Borrower under this Section 9.20 are independent, and a separate action or actions may
be brought and prosecuted against any Borrower whether action is brought against any other Borrower or whether any other Borrower is joined in any such action or actions. 

(d) The Obligations of the Borrowers under this Agreement and the other Loan Documents shall be joint and several, absolute and unconditional
irrespective of, and each Borrower hereby expressly waives, to the extent permitted by law, any defense (other than payment, to the extent thereof) to its Secured Obligations under this Agreement and all the other Loan Documents to which it is a
party by reason of: 
 (i) any lack of legality, validity or enforceability of this Agreement, of any of the Notes, of any
other Loan Document, or of any other agreement or instrument creating, providing security for, or otherwise relating to any of the Secured Obligations (the Loan Documents and all such other agreements and instruments being collectively referred to
as the “Related Agreements”); 

  
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 (ii) any action taken in accordance with any of the Related Agreements, any
exercise of any right or power therein conferred, any failure or omission to enforce any right conferred thereby, or any waiver of any covenant or condition therein provided; 

(iii) any acceleration of the maturity of any of the Secured Obligations (whether of such Borrower or of any other Borrower) or
of any other obligations or liabilities of any Person under any of the Related Agreements; 
 (iv) any release, exchange, non-perfection, lapse in perfection, disposal, deterioration in value, or impairment of any security for any of the Secured Obligations (whether of such Borrower or of any other Borrower) or for any other
obligations or liabilities of any Person under any of the Related Agreements; 
 (v) any dissolution of any Borrower or any
Loan Guarantor or any other party to a Related Agreement, or the combination or consolidation of any Borrower or any Loan Guarantor or any other party to a Related Agreement into or with another entity or any transfer or disposition of any assets of
any Borrower or any Loan Guarantor or any other party to a Related Agreement; 
 (vi) any extension (including without
limitation extensions of time for payment), renewal, amendment, restructuring or restatement of, any acceptance of late or partial payments under, or any change in the amount of any borrowings or any credit facilities available under, this
Agreement, any of the Notes or any other Loan Document or any other Related Agreement, in whole or in part; 
 (vii) the
existence, addition, modification, termination, reduction or impairment of value, or release of any other guaranty (or security therefor) of any of the Secured Obligations (whether of such Borrower or of any other Borrower); 

(viii) any waiver of, forbearance or indulgence under, or other consent to any change in or departure from any term or
provision contained in this Agreement, any other Loan Document or any other Related Agreement, including without limitation any term pertaining to the payment or performance of any of the Secured Obligations (whether of such Borrower or of any other
Borrower) or any of the obligations or liabilities of any party to any other Related Agreement; or 
 (ix) any other
circumstance whatsoever (with or without notice to or knowledge of any other Borrower) which may or might in any manner or to any extent vary the risks of such Borrower, or might otherwise constitute a legal or equitable defense available to, or
discharge of, a surety or a guarantor, including without limitation any right to require or claim that resort be had to any Borrower or any other Loan Party or to any collateral in respect of the Secured Obligations. 

(e) Notwithstanding anything to the contrary elsewhere contained herein or in any other Loan Document to which any Borrower is a party, each
Borrower waives any right to assert against any Secured Party as a defense, counterclaim, set-off, recoupment or cross claim in respect of its Secured Obligations, any defense (legal or equitable) or other
claim which such Borrower may now or at any time hereafter have against any other Loan Party or any or all of the Secured Parties without waiving any additional defenses, set-offs, counterclaims or other
claims otherwise available to such Borrower. 

  
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 (f) Each Borrower hereby unconditionally subordinates all present and future debts,
liabilities or obligations now or hereafter owing to such Borrower (a) of any other Borrower, to the payment in full of the Secured Obligations, the termination of the Commitments, and (b) of each other Person now or hereafter constituting
a Loan Party, to the payment in full of the obligations of such Loan Party owing to any Secured Party and arising under the Loan Documents or any Secured Cash Management Agreement or Secured Hedge Agreement. All amounts due under such subordinated
debts, liabilities, or obligations shall, upon the occurrence and during the continuance of an Event of Default, be collected and, upon request by the Administrative Agent, paid over forthwith to the Administrative Agent for the benefit of the
Secured Parties on account of the Secured Obligations or such other obligations, as applicable, and, after such request and pending such payment, shall be held by such Borrower as agent and bailee of the Secured Parties separate and apart from all
other funds, property and accounts of such Borrower. 
 This Section 9.20 shall survive the termination of the
Commitments and the repayment of all Obligations hereunder. 
 SECTION 9.21. Credit Bid. Each Borrower hereby irrevocably authorizes
the Lenders (or their respective designees), to bid and purchase by credit bidding their respective claims or otherwise (either directly or through one or more acquisition vehicles) all or any portion of the Collateral or any of the obligations
under the Loans, the Prepetition First Lien Notes, and the Prepetition Bridge Note at any sale thereof conducted (including the 363 Sale) (i) under the provisions of the UCC, including pursuant to sections
9-610 or 9-620 of the UCC, (ii) under the provisions of the Bankruptcy Code, including sections 363, 365 and 1129 of the Bankruptcy Code or (iii) in accordance
with applicable law. 
 ARTICLE X 

Loan Guaranty 
 SECTION
10.01. Loan Guaranty. Each Loan Guarantor (other than those that have delivered a separate Guarantee) hereby agrees that it is jointly and severally liable for, and, as a primary obligor and not merely as surety, absolutely, unconditionally
and irrevocably guarantees to the Secured Parties, the prompt payment when due, whether at stated maturity, upon acceleration or otherwise, and at all times thereafter, of the Secured Obligations and all costs and expenses including, without
limitation, all court costs and reasonable attorneys’ and paralegals’ fees (including allocated costs of in-house counsel and paralegals) and expenses paid or incurred by the Administrative Agent and
the Lenders in endeavoring to collect all or any part of the Secured Obligations from, or in prosecuting any action against, the Borrower, any Loan Guarantor or any other guarantor of all or any part of the Secured Obligations (such costs and
expenses, together with the Secured Obligations, collectively the “Guaranteed Obligations”). Each Loan Guarantor further agrees that the Guaranteed Obligations may be extended or renewed in whole or in part without notice to or
further assent from it, and that it remains bound upon its guarantee notwithstanding any such extension or renewal. All terms of this Loan Guaranty apply to and may be enforced by or on behalf of any domestic or foreign branch or Affiliate of any
Lender that extended any portion of the Guaranteed Obligations. 
 SECTION 10.02. Guaranty of Payment. This Loan Guaranty is a
guaranty of payment and not of collection. Each Loan Guarantor waives any right to require the Administrative Agent or any Lender to sue the Borrower, any Loan Guarantor, any other guarantor of, or any other Person obligated for all or any part of
the Guaranteed Obligations (each, an “Obligated Party”), or otherwise to enforce its payment against any collateral securing all or any part of the Guaranteed Obligations. 

  
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 SECTION 10.03. No Discharge or Diminishment of Loan Guaranty. 

(a) Except as otherwise provided for herein, the obligations of each Loan Guarantor hereunder are unconditional and absolute and not subject
to any reduction, limitation, impairment or termination for any reason (other than the indefeasible payment in full in cash of the Guaranteed Obligations), including: (i) any claim of waiver, release, extension, renewal, settlement, surrender,
alteration, or compromise of any of the Guaranteed Obligations, by operation of law or otherwise; (ii) any change in the corporate existence, structure or ownership of any Borrower or any other Obligated Party liable for any of the Guaranteed
Obligations; (iii) any insolvency, bankruptcy, reorganization or other similar proceeding affecting any Obligated Party, or their assets or any resulting release or discharge of any obligation of any Obligated Party; or (iv) the existence
of any claim, setoff or other rights which any Loan Guarantor may have at any time against any Obligated Party, the Administrative Agent, any Lender, or any other Person, whether in connection herewith or in any unrelated transactions. 

(b) The obligations of each Loan Guarantor hereunder are not subject to any defense or setoff, counterclaim, recoupment, or termination
whatsoever by reason of the invalidity, illegality, or unenforceability of any of the Guaranteed Obligations or otherwise, or any provision of applicable law or regulation purporting to prohibit payment by any Obligated Party, of the Guaranteed
Obligations or any part thereof. 
 (c) Further, the obligations of any Loan Guarantor hereunder are not discharged or impaired or otherwise
affected by: (i) the failure of the Administrative Agent or any Lender to assert any claim or demand or to enforce any remedy with respect to all or any part of the Guaranteed Obligations; 

(ii) any waiver or modification of or supplement to any provision of any agreement relating to the Guaranteed Obligations; (iii) any
release, non-perfection, or invalidity of any indirect or direct security for the obligations of any Borrower for all or any part of the Guaranteed Obligations or any obligations of any other Obligated Party
liable for any of the Guaranteed Obligations; (iv) any action or failure to act by the Administrative Agent or any Lender with respect to any collateral securing any part of the Guaranteed Obligations; or (v) any default, failure or delay,
willful or otherwise, in the payment or performance of any of the Guaranteed Obligations, or any other circumstance, act, omission or delay that might in any manner or to any extent vary the risk of such Loan Guarantor or that would otherwise
operate as a discharge of any Loan Guarantor as a matter of law or equity (other than the indefeasible payment in full in cash of the Guaranteed Obligations). 

SECTION 10.04. Defenses Waived. To the fullest extent permitted by applicable law, each Loan Guarantor hereby waives any defense based
on or arising out of any defense of any Borrower or any Loan Guarantor or the unenforceability of all or any part of the Guaranteed Obligations from any cause, or the cessation from any cause of the liability of any Borrower, any Loan Guarantor or
any other Obligated Party, other than the indefeasible payment in full in cash of the Guaranteed Obligations. Without limiting the generality of the foregoing, each Loan Guarantor irrevocably waives acceptance hereof, presentment, demand, protest
and, to the fullest extent permitted by law, any notice not provided for herein, as well as any requirement that at any time any action be taken by any Person against any Obligated Party, or any other Person. Each Loan Guarantor confirms that it is
not a surety under any state law and shall not raise any such law as a defense to its obligations hereunder. The Administrative Agent may, at its election, foreclose on any Collateral held by it by one or more judicial or nonjudicial sales, accept
an assignment of any such Collateral in lieu of foreclosure or otherwise act or fail to act with respect to any collateral securing all or a part of the Guaranteed Obligations, compromise or adjust any part of the Guaranteed Obligations, make any
other accommodation with any Obligated Party or exercise any other right or remedy available to it against any Obligated Party, without affecting or impairing in any way the liability of such Loan Guarantor under this Loan Guaranty, except to the
extent the Guaranteed Obligations have been fully and indefeasibly paid in cash. To the fullest extent permitted by applicable law, each Loan Guarantor waives any defense arising out of any such election even though that election may operate,
pursuant to applicable law, to impair or extinguish any right of reimbursement or subrogation or other right or remedy of any Loan Guarantor against any Obligated Party or any security. 

  
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 SECTION 10.05. Rights of Subrogation. No Loan Guarantor will assert any right, claim
or cause of action, including, without limitation, a claim of subrogation, contribution or indemnification that it has against any Obligated Party, or any collateral, until the Loan Parties and the Loan Guarantors have fully performed all their
obligations to the Administrative Agent and the Lenders. 
 SECTION 10.06. Reinstatement; Stay of Acceleration. If at any time any
payment of any portion of the Guaranteed Obligations (including a payment effected through exercise of a right of setoff) is rescinded, or must otherwise be restored or returned upon the insolvency, bankruptcy or reorganization of any Borrower or
otherwise (including pursuant to any settlement entered into by a Secured Party in its discretion), each Loan Guarantor’s obligations under this Loan Guaranty with respect to that payment shall be reinstated at such time as though the payment
had not been made and whether or not the Administrative Agent and the Lenders are in possession of this Loan Guaranty. If acceleration of the time for payment of any of the Guaranteed Obligations is stayed upon the insolvency, bankruptcy or
reorganization of the Borrower, all such amounts otherwise subject to acceleration under the terms of any agreement relating to the Guaranteed Obligations shall nonetheless be payable by the Loan Guarantors forthwith on demand by the Administrative
Agent. 
 SECTION 10.07. Information. Each Loan Guarantor assumes all responsibility for being and keeping itself informed of the
Borrower’s financial condition and assets, and of all other circumstances bearing upon the risk of nonpayment of the Guaranteed Obligations and the nature, scope and extent of the risks that each Loan Guarantor assumes and incurs under this
Loan Guaranty, and agrees that none of the Administrative Agent or any Lender shall have any duty to advise any Loan Guarantor of information known to it regarding those circumstances or risks. 

SECTION 10.08. Termination. Each of the Lenders may continue to make loans or extend credit to the Borrowers based on this Loan
Guaranty until five (5) days after it receives written notice of termination from any Loan Guarantor. Notwithstanding receipt of any such notice, each Loan Guarantor will continue to be liable to the Lenders for any Guaranteed Obligations
created, assumed or committed to prior to the fifth day after receipt of the notice, and all subsequent renewals, extensions, modifications and amendments with respect to, or substitutions for, all or any part of such Guaranteed Obligations.
Notwithstanding anything to the contrary contained in the Loan Documents, this Loan Guaranty and the provisions of this Section 10.08 shall terminate with respect to each Loan Guarantor on the date such Loan Guarantor is
released from its obligations in respect of this Loan Guaranty in accordance with Section 9.02 or upon (i) the indefeasible payment in full in cash of the Guarantor Payment and the Guaranteed Obligations, (ii) the
cash collateralization of all Unliquidated Obligations (other than Unliquidated Obligations that have not yet arisen), and (iii) the termination of all Commitments. 

SECTION 10.09. Taxes. Each payment of the Guaranteed Obligations will be made by each Loan Guarantor without withholding for any Taxes,
unless such withholding is required by law. If any Loan Guarantor determines, in its sole discretion exercised in good faith, that it is so required to withhold Taxes, then such Loan Guarantor may so withhold and shall timely pay the full amount of
withheld Taxes to the relevant Governmental Authority in accordance with applicable law. If such Taxes are Indemnified Taxes, then the amount payable by such Loan Guarantor shall be increased as necessary so that, net of such withholding (including
such withholding applicable to additional amounts payable under this Section), the Administrative Agent or Lender (as the case may be) receives the amount it would have received had no such withholding been made. 

  
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 SECTION 10.10. Maximum Liability. Notwithstanding any other provision of this Loan
Guaranty, the amount guaranteed by each Loan Guarantor hereunder shall be limited to the extent, if any, required so that its obligations hereunder shall not be subject to avoidance under Section 548 of the United States Bankruptcy Code or
under any applicable state Uniform Fraudulent Transfer Act, Uniform Fraudulent Conveyance Act or similar statute or common law. In determining the limitations, if any, on the amount of any Loan Guarantor’s obligations hereunder pursuant to the
preceding sentence, it is the intention of the parties hereto that any rights of subrogation, indemnification or contribution which such Loan Guarantor may have under this Loan Guaranty, any other agreement or applicable law shall be taken into
account. 
 SECTION 10.11. Contribution. 

(a) To the extent that any Loan Guarantor shall make a payment under this Loan Guaranty (a “Guarantor Payment”) which, taking
into account all other Guarantor Payments then previously or concurrently made by any other Loan Guarantor, exceeds the amount which otherwise would have been paid by or attributable to such Loan Guarantor if each Loan Guarantor had paid the
aggregate Guaranteed Obligations satisfied by such Guarantor Payment in the same proportion as such Loan Guarantor’s “Allocable Amount” (as defined below) (as determined immediately prior to such Guarantor Payment) bore to the
aggregate Allocable Amounts of each of the Loan Guarantors as determined immediately prior to the making of such Guarantor Payment, then, following indefeasible payment in full in cash of the Guarantor Payment and the Guaranteed Obligations (other
than Unliquidated Obligations that have not yet arisen), and all Commitments have terminated or expired, and this Agreement has terminated, such Loan Guarantor shall be entitled to receive contribution and indemnification payments from, and be
reimbursed by, each other Loan Guarantor for the amount of such excess, pro rata based upon their respective Allocable Amounts in effect immediately prior to such Guarantor Payment. 

(b) As of any date of determination, the “Allocable Amount” of any Loan Guarantor shall be equal to the excess of the fair saleable
value of the property of such Loan Guarantor over the total liabilities of such Loan Guarantor (including the maximum amount reasonably expected to become due in respect of contingent liabilities, calculated, without duplication, assuming each other
Loan Guarantor that is also liable for such contingent liability pays its ratable share thereof), giving effect to all payments made by other Loan Guarantors as of such date in a manner to maximize the amount of such contributions. 

(c) This Section 10.11 is intended only to define the relative rights of the Loan Guarantors, and nothing set forth
in this Section 10.11 is intended to or shall impair the obligations of the Loan Guarantors, jointly and severally, to pay any amounts as and when the same shall become due and payable in accordance with the terms of this
Loan Guaranty. 
 (d) The parties hereto acknowledge that the rights of contribution and indemnification hereunder shall constitute assets
of the Loan Guarantor or Loan Guarantors to which such contribution and indemnification is owing. 
 (e) The rights of the indemnifying Loan
Guarantors against other Loan Guarantors under this Section 10.11 shall be exercisable upon the full and indefeasible payment of the Guaranteed Obligations in cash (other than Unliquidated Obligations that have not yet
arisen) and the termination or expiry, on terms reasonably acceptable to the Administrative Agent, of the Commitments and the termination of this Agreement. 

  
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 SECTION 10.12. Liability Cumulative. The liability of each Loan Party as a Loan
Guarantor under this Article X is in addition to and shall be cumulative with all liabilities of each Loan Party to the Administrative Agent and the Lenders under this Agreement and the other Loan Documents to which such Loan Party is a party
or in respect of any obligations or liabilities of the other Loan Parties, without any limitation as to amount, unless the instrument or agreement evidencing or creating such other liability specifically provides to the contrary. 

ARTICLE XI 
 Security and
Administrative Priority 
 SECTION 11.01. Pre-Petition Obligations. Each of the Borrowers
hereby acknowledges and confirms and agrees that the Prepetition Note Parties are indebted to the Prepetition Agents and the Prepetition Holders for (a) as of the Petition Date, the Prepetition Obligations in the specific amounts set forth in
the Interim Order, and (b) as of the Closing Date, after giving effect to the Roll-Up Loans hereunder, the Remaining Prepetition Bridge Note Obligations, Remaining Prepetition First Lien Obligations and
the Prepetition Second Lien Obligations, in each case, pursuant to the applicable Prepetition Notes and the other Prepetition Note Documents, without offset, defense or counterclaim of any kind, nature and description whatsoever. 

SECTION 11.02. Acknowledgement of Security Interests. As of the Petition Date, each of the Borrowers hereby acknowledges, confirms and
agrees (and hereby agrees that it will not dispute, challenge or otherwise contest) that (a) each Prepetition Agent, for the benefit of the applicable Prepetition Holders has valid, enforceable and perfected first priority and senior liens
subject only to the Carve-Out, the Liens in favor of the Administrative Agent as provided herein and in the other Loan Documents and Permitted Liens (as defined in the Prepetition Note Documents) upon and
security interests in all of the Collateral (as defined in the Prepetition Note Documents) granted by the Prepetition Note Parties pursuant to the Prepetition Note Documents as in effect on the Petition Date to secure the respective Prepetition
Obligations and (b) such Prepetition Agent’s Liens are not subject to avoidance, reduction, disallowance, impairment or subordination pursuant to the Bankruptcy Code or applicable non-bankruptcy law.

 SECTION 11.03. Binding Effect of Documents. Each of the Borrowers hereby acknowledges, confirms and agrees (and hereby agrees that
it will not dispute, challenge or otherwise contest) that (a) each of the Prepetition Note Documents to which any Prepetition Note Party is a party is in full force and effect as of the date hereof, (b) the agreements and obligations of
the Prepetition Note Parties contained in the Prepetition Note Documents constitute the legal, valid and binding obligations of each of the Prepetition Note Parties enforceable against each of them in accordance with their respective terms and no
Prepetition Note Party has any valid defense, offset or counterclaim to the enforcement of such obligations and (c) the Prepetition Agents and the Prepetition Holders are and shall be entitled to all of the rights, remedies and benefits
provided for in the Prepetition Note Documents except to the extent clauses (b) and (c) above are subject to the automatic stay under the Bankruptcy Code upon commencement of the Chapter 11 Cases. 

SECTION 11.04. Collateral; Grant of Lien and Security Interest. 

(a) Pursuant to the Bankruptcy Court Orders and in accordance with the terms thereof, as security for the full and timely payment and
performance of all of the Secured Obligations, the Loan Parties hereby assign, pledge and grant to the Administrative Agent for the benefit of the Secured Parties a security interest in and to and Lien on all of the Loan Parties’ Collateral.

 (b) Upon entry of the Interim Order or Final Order and subject to the terms thereof, as the case may be, the Liens and security interests
in favor of the Administrative Agent referred to in Section 11.04(a) hereof shall be valid and perfected Liens and security interests in the Collateral, prior to all other Liens and security interests in the Collateral subject to
Permitted Priority Liens and the Carve-Out as expressly provided in the Bankruptcy Court Orders. Such Liens and security interests and their priority shall remain in effect until the total Commitments shall
have been terminated and all Secured Obligations shall have been repaid (or cash collateralized) in cash in full. 

  
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 (c) Notwithstanding anything herein to the contrary (i) all proceeds received by the
Administrative Agent and the Lenders from the Collateral subject to the Liens granted in this Section 11.04 and in each other Loan Document and by the Bankruptcy Court Orders shall be subject to the prior funding of the Carve-Out to the extent expressly set forth in the Bankruptcy Court Orders, and (ii) no Person entitled to the benefits of the Carve-Out shall be entitled to sell or
otherwise dispose of, or seek or object to the sale or other disposition of any Collateral. 
 SECTION 11.05. Administrative
Priority. Each Loan Party agrees that its Secured Obligations shall constitute allowed administrative expenses in the Chapter 11 Cases having priority over all administrative expenses of and unsecured claims against such Person now existing or
hereafter arising, of any kind or nature whatsoever, including, without limitation, all administrative expenses of the kind specified in, or arising under any Section of the Bankruptcy Code, subject only to the
Carve-Out as and to the extent expressly set forth in the Bankruptcy Court Orders. 
 SECTION 11.06.
Grants, Rights and Remedies. The Liens and security interests granted pursuant to Section 11.04(a) hereof and the administrative priority granted pursuant to Section 11.05 hereof may be independently
granted by the Loan Documents, the Bankruptcy Court Orders and by other Loan Documents hereafter entered into. This Agreement, the Bankruptcy Court Orders and such other Loan Documents supplement each other, and the grants, priorities, rights and
remedies of the Administrative Agent and the Lenders hereunder and thereunder are cumulative. 
 SECTION 11.07. No Filings Required.
The Liens and security interests referred to herein shall be deemed valid and perfected by entry of the Interim Order or the Final Order, as the case may be, and entry of the Interim Order shall have occurred on or before the date of any Loan. The
Administrative Agent shall not be required to file any financing statements, mortgages, notices of Lien or similar instruments in any jurisdiction or filing office, take possession or control of any Collateral, or take any other action in order to
validate or perfect the Lien and security interest granted by or pursuant to this Agreement, the Interim Order or the Final Order, as the case may be, or any other Loan Document. 

SECTION 11.08. Survival. The Liens, lien priority, administrative priorities and other rights and remedies granted to the
Administrative Agent and the Lenders pursuant to this Agreement, the Interim Order, the Final Order and the other Loan Documents (specifically including, but not limited to, the existence. perfection and priority of the Liens and security interests
provided herein and therein, and the administrative priority provided herein and therein) shall not be modified, altered or impaired in any manner by any other financing or extension of credit or incurrence of Indebtedness by the Loan Parties
(pursuant to Section 364 of the Bankruptcy Code or otherwise), or by any dismissal or conversion of any of the Chapter 11 Cases, or by any other act or omission whatsoever. Without limitation, notwithstanding any such order, financing,
extension, incurrence, dismissal, conversion, act or omission: 
 (a) except only to the extent of expenses that may be paid from the Carve-Out as provided in Section 11.05, no costs or expenses of administration which have been or may be incurred in the Chapter 11 Cases or any conversion of the same or in any other
proceedings related thereto, and no priority claims, are or will be prior to or on parity with any claim of the Administrative Agent, the Lenders or any other Secured Party against the Loan Parties in respect of any Secured Obligation; 

  
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 (b) the Liens in favor of the Administrative Agent for the benefit of the Secured Parties
set forth in Section 11.04(a) hereof shall constitute valid and perfected first priority Liens and security interests and shall be prior to all other Liens and security interests, now existing or hereafter arising, in favor
of any other creditor or any other Person whatsoever (subject to Permitted Priority Liens, any action required under foreign law with respect to the Capital Stock of Foreign Subsidiaries solely to the extent that such foreign law is applicable, and
as expressly provided in the Bankruptcy Court Orders, the Carve-Out); and 
 (c) the Liens in favor
of the Administrative Agent for the benefit of the Secured Parties set forth herein and in the other Loan Documents shall continue to be valid and perfected without the necessity that the Administrative Agent file financing statements or mortgages,
take possession or control of any Collateral, or otherwise perfect its Lien under applicable non-bankruptcy law. 

[Signature Page Follows] 

  
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 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed by
their respective authorized officers as of the day and year first above written. 
  

			
	 BORROWERS:

	
	 PARETEUM CORPORATION

		
	By:	 	 /s/ Laura W. Thomas

	 Name: Laura W. Thomas

	 Title: Authorized Signatory

	
	 PARETEUM NORTH AMERICA CORP.

		
	 By:
	 	 /s/ Laura W. Thomas

	 Name: Laura W. Thomas

	 Title: Authorized Signatory

	
	 DEVICESCAPE HOLDINGS, INC.

		
	 By:
	 	 /s/ Laura W. Thomas

	 Name: Laura W. Thomas

	 Title: Authorized Signatory

	
	 IPASS, INC.

		
	 By:
	 	 /s/ Laura W. Thomas

	 Name: Laura W. Thomas

	 Title: Authorized Signatory

	
	 IPASS IP LLC

		
	 By:
	 	 /s/ Laura W. Thomas

	 Name: Laura W. Thomas

	 Title: Authorized Signatory

 
			
	 ARTILIUM GROUP LTD

		
	By:	 	 /s/ Bart Weijermars

	 Name: Bart Weijermars

	 Title: Authorized Signatory

	
	 PARETEUM ASIA PTE. LTD.

		
	 By:
	 	 /s/ Bart Weijermars

	 Name: Bart Weijermars

	 Title: Authorized Signatory

	
	 PARETEUM N.V.

		
	 By:
	 	 /s/ Bart Weijermars

	 Name: Bart Weijermars

	 Title: Authorized Signatory

	
	 PARETEUM EUROPE B.V.

		
	 By:
	 	/s/ Bart Weijermars
	 Name: Bart Weijermars

	 Title: Authorized Signatory

 
			
	 CHANNEL MVNE PTE. LTD, as a Lender

		
	By:	 	 /s/ Mak Chee Kiong

	 Name: Mak Chee Kiong

	 Title: Authorized Signatory

	
	CIRCLES MVNE PTE. LTD., as Administrative Agent
		
	 By:
	 	 /s/ Mak Chee Kiong

	 Name: Mak Chee Kiong

	 Title: Authorized Signatory

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