Document:

avt_Ex_10-1

		

			Exhibit 10.1 

		

		
			AMENDMENT NO. 2 AND WAIVER TO 
SENIOR UNSECURED BRIDGE CREDIT AGREEMENT
		

		
			 
		

		
			AMENDMENT NO. 2 AND WAIVER TO SENIOR UNSECURED BRIDGE CREDIT AGREEMENT (this “Amendment”), dated as of October 24,  2016, is entered into by and among AVNET, INC., a New York corporation  (the “Borrower”), BANK OF AMERICA, N.A., as administrative agent (in such capacity,  the “Administrative Agent”), and the Lenders.  Capitalized terms not otherwise defined in this Amendment have the same meanings as specified in the Credit Agreement (as defined below).
		

		
			PRELIMINARY STATEMENTS:
		

			
	
			
				 (1)
			The Borrower, the Administrative Agent and the Lenders from time to time party thereto entered into that certain Senior Unsecured Bridge Credit Agreement, dated as of July 27, 2016 (such Senior Unsecured Bridge Credit Agreement, as amended by that certain Amendment No. 1 to Senior Unsecured Bridge Credit Agreement, dated as of September 13, 2016 and as in effect immediately prior to giving effect to this Amendment, the “Credit Agreement”).

			
	
			
				 (2)
			The Borrower has requested that the Lenders approve the amendments and the waiver to the Credit Agreement set forth in this Amendment.

			
	
			
				 (3)
			In accordance with Section 10.01 of the Credit Agreement, the Administrative Agent, the Lenders and the Borrower have agreed, subject to the terms and conditions stated below, to amend the Credit Agreement as herein set forth.

		
			SECTION 1.Amendments to Credit Agreement. The Credit Agreement is, effective as of the Amendment No. 2 Effective Date (as defined below), hereby amended  to delete the struck text (indicated textually in the same manner as the following example: struck text) and to add the double-underlined text (indicated textually in the same manner as the following example: double-underlined text) as set forth in the text of the Credit Agreement attached as Exhibit A hereto, except that any Schedule, Exhibit or other attachment to the Credit Agreement not amended pursuant to the terms of this Amendment or otherwise included as part of said Exhibit A shall remain in effect without any amendment or other modification thereto.
		

		
			 
		

		
			SECTION 2Waiver.  Effective as of the Amendment No. 2 Effective Date, the Lenders hereby agree, with respect to the termination of the Tranche A-1 Commitments contemplated by the Borrower, to waive the five Business Day notice period required by Section 2.04(a) of the Credit Agreement, such that the Tranche A-1 Commitments are terminated effective as of October 24, 2016.
		

		
			SECTION 3.Reference to and Effect on the Loan Documents.    
		

		
			 
		

			
	
			
				 (a)
			On and after the Amendment No. 2 Effective Date, each reference in the Credit Agreement to “this Agreement”, “hereunder”, “hereof” or words of like import referring to the Credit Agreement, and each reference in the other Loan Documents to “the Credit Agreement”, “thereunder”, “thereof” or words of like import referring to the Credit Agreement, shall mean and be a reference to the Credit Agreement, as amended by this Amendment.

			
	
			
				 (b)
			The Credit Agreement, as specifically amended by this Amendment, and the other Loan Documents are, and shall continue to be, in full force and effect, and are hereby in all respects ratified and confirmed. 

		
			

		 

 

		

			 

		

		

			
	
			
				 (c)
			Except as expressly provided herein, the execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of any Lender or the Administrative Agent under the Credit Agreement or any other Loan Document, nor shall it constitute a waiver of any provision of the Credit Agreement or any Loan Document.

			
	
			
				 (d)
			This Amendment is a Loan Document for the purposes of the provisions of the other Loan Documents.  Without limiting the foregoing, any breach of representations and warranties under this Amendment may be a Default or Event of Default under other Loan Documents as provided therein.

		
			SECTION 4.Conditions of Effectiveness.    This Amendment shall become effective as of the first date upon which each of the conditions precedent set forth below in this Section 4 shall be satisfied or waived (such date, the “Amendment No. 2 Effective Date”):
		

		
			 
		

		
			 
		

			
	
			
				 (a)
			Amendment Documents.  The Administrative Agent shall have received the following, each of which shall be originals or telecopies (followed promptly by originals) unless otherwise specified and each in form and substance satisfactory to the Administrative Agent:

			
	
			
				i.
			

			
	
			
			counterparts of this Amendment executed by the Lenders and a Responsible Officer of the Borrower, sufficient in number for distribution to the Administrative Agent and the Lenders; and

			
	
			
				ii.
			

			
	
			
			a certificate, dated as of the Amendment No. 2 Effective Date, signed by a Responsible Officer of the Borrower certifying (A) that no Default or Event of Default as of the Amendment No. 2 Effective Date has occurred and is continuing and (B) that the representations and warranties of the Borrower contained in Article V of the Credit Agreement and each other Loan Document or in any document furnished under or in connection herewith or therewith are true and correct on and as of the Amendment No. 2 Effective Date, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct as of such earlier date.

			
	
			
				 (b)
			Fees and Expenses.  The Borrower shall have paid any and all fees and expenses of the Administrative Agent, the Arranger, the Lenders and their respective Affiliates required to be paid before the Amendment No. 2 Effective Date.

		
			SECTION 5.Representations and Warranties.    The Borrower hereby represents and warrants, as of the Amendment No. 2 Effective Date, that:
		

		
			(a)The execution, delivery and performance by the Borrower of this Amendment have been duly authorized by all necessary corporate or other organizational action, and do not and, in the case of performance by the Borrower of the Credit Agreement as amended hereby, will not (A) contravene the terms of any of the Borrower’s Organization Documents; (B) conflict with or result in any breach or contravention of, or the creation of any Lien under, or require any payment to be made under (i) any Contractual Obligation to which the Borrower is a party or to which the Borrower or the properties of the Borrower or any of its Subsidiaries is subject or (ii) any order, injunction, writ or decree of any Governmental Authority or any arbitral award to which the Borrower or its property is subject; or (C) violate any Law in any material respect, except, in the case of immediately preceding clauses (B) and (C), to the extent that failure to do so would not reasonably be expected to have a Material Adverse Effect.  The Borrower and each Subsidiary thereof is in compliance with all Contractual Obligations referred to in clause (B)(i), except to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect.
		

		
			

		 

		

			2

		

		

			 

		

 

		

			 

		

		

		
			(b)This Amendment has been duly executed and delivered by the Borrower.  This Amendment and the Credit Agreement as amended hereby constitute a legal, valid and binding obligation of the Borrower, enforceable against the Borrower in accordance with their terms.
		

		
			SECTION 6.Execution in Counterparts.    This Amendment may be executed in counterparts (and by different parties hereto in different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract.  The Credit Agreement, as amended hereby, constitutes the entire contract among the parties relating to the subject matter hereof and supersedes any and all previous agreements and understandings, oral or written, relating to the subject matter hereof.  Delivery of an executed counterpart of a signature page of this Amendment by telecopy or other electronic imaging means shall be effective as delivery of a manually executed counterpart of this Amendment.
		

		
			 
		

		
			SECTION 7.Governing Law. Jurisdiction. Waiver of Jury Trial. This Amendment shall be governed by, and construed in accordance with,  the law of the  State of New York.  The provisions of Section 10.14(b), (c) and (d) and Section 10.15 of the Credit Agreement are hereby incorporated mutatis mutandis.
		

		
			 
		

		
			 
		

		
			[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]
		

		
			 
		

		
			

		 

		

			3

		

		

			 

		

 

		

			 

		

		

		
			IN WITNESS WHEREOF, the parties hereto have caused this Amendment No. 2 to Senior Unsecured Bridge Credit Agreement to be duly executed by their respective authorized officers as of the day and year first above written.
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

				
	
					
						BORROWER:

				
	
					
						 

				
	
					
						AVNET, INC.

				
	
					
						a New York corporation

				
	
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/ Kevin Moriarty

				
	
					
						 

					
					
						Name:

					
					
						Kevin Moriarty

				
	
					
						 

					
					
						Title:

					
					
						Senior Vice President and Chief

				
	
					
						 

					
					
						 

					
					
						Financial Officer

				
	
					
						 

					
					
						 

				

		
			 
		

		
			 
		

		
			 
		

		
			
		

		

		 

		

			[Signature Page]

		

		

			 

		

 

		

			 

		

	
					
						

					
						 

					
					
						 

					
					
						 

				
	
					
						BANK OF AMERICA, N.A.,

				
	
					
						as Administrative Agent

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/ Angela Larkin

				
	
					
						 

					
					
						Name:

					
					
						Angela Larkin

				
	
					
						 

					
					
						Title:

					
					
						Assistant Vice President

				
	
					
						 

					
					
						 

				

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		

		 

		

			[Signature Page]

		

		

			 

		

 

		

			 

		

	
					
						

					
						 

					
					
						 

					
					
						 

				
	
					
						BANK OF AMERICA, N.A.,

				
	
					
						as Lender

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/ Mukesh Singh

				
	
					
						 

					
					
						Name:

					
					
						Mukesh Singh

				
	
					
						 

					
					
						Title:

					
					
						Vice President

				
	
					
						 

					
					
						 

				

		
			 
		

		
			 
		

		
			 
		

		

		 

		

			[Signature Page]

		

		

			 

		

 

		

			 

		

	
					
						

					
						 

					
					
						 

					
					
						 

				
	
					
						JPMORGAN CHASE BANK, N.A.,

				
	
					
						as Lender

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/ Peter Thauer

				
	
					
						 

					
					
						Name:

					
					
						Peter Thauer

				
	
					
						 

					
					
						Title:

					
					
						Managing Director

				
	
					
						 

					
					
						 

				

		
			 
		

		
			 
		

		
			 
		

		

		 

		

			[Signature Page]

		

		

			 

		

 

		

			 

		

	
					
						

					
						 

					
					
						 

					
					
						 

				
	
					
						The Bank of Tokyo-Mitsubishi UFJ, Ltd.,

				
	
					
						as Lender

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/ Matthew Antioco

				
	
					
						 

					
					
						Name:

					
					
						Matthew Antioco

				
	
					
						 

					
					
						Title:

					
					
						Vice President

				
	
					
						 

					
					
						 

				

		
			 
		

		
			 
		

		
			 
		

		

		 

		

			[Signature Page]

		

		

			 

		

 

		

			 

		

	
					
						

					
						 

					
					
						 

					
					
						 

				
	
					
						THE BANK OF NOVA SCOTIA,

				
	
					
						as Lender

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/ Winston Lua

				
	
					
						 

					
					
						Name:

					
					
						Winston Lua

				
	
					
						 

					
					
						Title:

					
					
						Director

				
	
					
						 

					
					
						 

				

		
			 
		

		
			 
		

		
			 
		

		

		 

		

			[Signature Page]

		

		

			 

		

 

		

			 

		

	
					
						

					
						 

					
					
						 

					
					
						 

				
	
					
						MIZUHO BANK, LTD.,

				
	
					
						as Lender

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/ Daniel Guevara

				
	
					
						 

					
					
						Name:

					
					
						Daniel Guevara

				
	
					
						 

					
					
						Title:

					
					
						Authorized Signatory

				
	
					
						 

					
					
						 

				

		
			 
		

		
			 
		

		
			 
		

		

		 

		

			[Signature Page]

		

		

			 

		

 

		

			 

		

	
					
						

					
						 

					
					
						 

					
					
						 

				
	
					
						BNP Paribas,

				
	
					
						as Lender

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/ Charles de Clapiers

				
	
					
						Name:

					
					
						Charles de Clapiers

				
	
					
						Title:

					
					
						Director

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/ Liz Cheng

				
	
					
						Name:

					
					
						Liz Cheng

				
	
					
						Title:

					
					
						Vice President

				
	
					
						 

					
					
						 

				

		
			 
		

		
			 
		

		
			 
		

		

		 

		

			[Signature Page]

		

		

			 

		

 

		

			 

		

	
					
						

					
						 

					
					
						 

					
					
						 

				
	
					
						U.S. BANK NATIONAL ASSOCIATION,

				
	
					
						as Lender

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/ Brian Seipke

				
	
					
						Name:

					
					
						Brian Seipke

				
	
					
						Title:

					
					
						Vice President

				
	
					
						 

					
					
						 

				

		
			 
		

		
			 
		

		
			 
		

		

		 

		

			[Signature Page]

		

		

			 

		

 

		

			 

		

	
					
						

					
						 

					
					
						 

					
					
						 

				
	
					
						HSBC Bank USA, National Association,

				
	
					
						as Lender

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/ Ilene Hernandez

				
	
					
						Name:

					
					
						Ilene Hernandez

				
	
					
						Title:

					
					
						Assistant Vice President

				
	
					
						 

					
					
						 

				

		
			 
		

		
			 
		

		
			 
		

		

		 

		

			[Signature Page]

		

		

			 

		

 

		

			 

		

	
					
						

					
						 

					
					
						 

					
					
						 

				
	
					
						Sumitomo Mitsui Banking Corporation,

				
	
					
						as Lender

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/ Manabu Hirabayashi

				
	
					
						Name:

					
					
						Manabu Hirabayashi

				
	
					
						Title:

					
					
						Managing Director

				
	
					
						 

					
					
						 

				

		
			 
		

		
			 
		

		
			 
		

		

		 

		

			[Signature Page]

		

		

			 

		

 

		

			 

		

	
					
						

					
						 

					
					
						 

					
					
						 

				
	
					
						WELLS FARGO BANK, N.A.,

				
	
					
						as Lender

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/ Peter Martinets

				
	
					
						Name:

					
					
						Peter Martinets

				
	
					
						Title:

					
					
						Managing Director

				
	
					
						 

					
					
						 

				

		
			 
		

		
			 
		

		
			 
		

		

		 

		

			[Signature Page]

		

		

			 

		

 

		

			 

		

	
					
						

					
						 

					
					
						 

					
					
						 

				
	
					
						PNC Bank National Association,

				
	
					
						as Lender

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/ Brian Prettyman

				
	
					
						Name:

					
					
						Brian Prettyman

				
	
					
						Title:

					
					
						Senior Vice President

				
	
					
						 

					
					
						 

				

		
			 
		

		
			 
		

		
			 
		

		
			

		 

		

			[Signature Page]

		

		

			 

		

 

		

			Conformed Copy through Amendment No. 1 (dated as of September 13, 2016)

		

		

		
			EXHIBIT A
		

		
			 
		

		
			AMENDMENTS TO THE SENIOR UNSECURED BRIDGE Credit Agreement
		

		
			 
		

		
			 
		

		
			[Attached On Following Pages]
		

		
			
		

		
			

		 

		

			NYDOCS03/1048584.7

		

 

		

			 

		

		

		
			 
		

		
			 
		

		
			 
		

		
			SENIOR UNSECURED BRIDGE CREDIT AGREEMENT 
		

		
			Dated as of July 27, 2016,  
		

		
			among 
		

		
			AVNET, INC. 
		

		
			as the Borrower,
		

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

		
			and
		

		
			The Other Lenders Party Hereto
		

		
			MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED, 
as 
Sole Lead Arranger and Sole Bookrunner
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		

		 

		

			NYDOCS03/1048584.7

		

 

		

			 

		

	
					
						

					
						 

					
					
						 

					
					
						 

				
	
					
						Article I.

					
					
						 

					
					
						 

				
	
					
						DEFINITIONS AND ACCOUNTING TERMS

					
					
						 

				
	
					
						1.01

					
					
						Defined Terms

					
1
				
	
					
						1.02

					
					
						Other Interpretive Provisions

					
32
				
	
					
						1.03

					
					
						Accounting Terms

					
32
				
	
					
						1.04

					
					
						Exchange Rates; Currency Equivalents

					
33
				
	
					
						1.05

					
					
						Change of Currency

					
33
				
	
					
						1.06

					
					
						Times of Day

					
34
				
	
					
						1.07

					
					
						Rounding

					
34
				
	
					
						Article II.

					
					
						 

					
					
						 

				
	
					
						THE COMMITMENTS AND BORROWINGS

					
					
						 

				
	
					
						2.01

					
					
						Loans

					
34
				
	
					
						2.02

					
					
						Borrowings, Conversions and Continuations of Loans

					
34
				
	
					
						2.03

					
					
						Prepayments

					
36
				
	
					
						2.04

					
					
						Termination or Reduction of Commitments

					
37
				
	
					
						2.05

					
					
						Repayment of Loans

					
39
				
	
					
						2.06

					
					
						Interest

					
39
				
	
					
						2.07

					
					
						Fees

					
40
				
	
					
						2.08

					
					
						Computation of Interest and Fees

					
41
				
	
					
						2.09

					
					
						Evidence of Debt

					
41
				
	
					
						2.10

					
					
						Payments Generally; Administrative Agent’s Clawback

					
41
				
	
					
						2.11

					
					
						Sharing of Payments by Lenders

					
43
				
	
					
						2.12

					
					
						Defaulting Lenders

					
44
				
	
					
						Article III.

					
					
						 

					
					
						 

				
	
					
						TAXES, YIELD PROTECTION AND ILLEGALITY

					
					
						 

				
	
					
						3.01

					
					
						Taxes

					
45
				
	
					
						3.02

					
					
						Illegality

					
50
				
	
					
						3.03

					
					
						Inability to Determine Rates

					
51
				
	
					
						3.04

					
					
						Increased Costs; Reserves on Tranche A Loans and Eurocurrency Rate Tranche B Loans

					
52
				
	
					
						3.05

					
					
						Compensation for Losses

					
53
				
	
					
						3.06

					
					
						Mitigation Obligations; Replacement of Lenders

					
54
				
	
					
						3.07

					
					
						Survival

					
55
				
	
					
						Article IV.

					
					
						 

					
					
						 

				
	
					
						CONDITIONS PRECEDENT TO BORROWING

					
					
						 

				
	
					
						4.01

					
					
						Conditions to Effectiveness

					
55
				
	
					
						4.02

					
					
						Conditions to Closing

					
57
				
	
					
						4.03

					
					
						Actions During the Certain Funds Period

					
59
				
	
					
						Article V.

					
					
						 

					
					
						 

				
	
					
						REPRESENTATIONS AND WARRANTIES

					
					
						 

				
	
					
						5.01

					
					
						Existence, Qualification and Power; Compliance with Laws

					
60
				
	
					
						5.02

					
					
						Authorization; No Contravention

					
61
				
	
					
						5.03

					
					
						Governmental Authorization; Other Consents

					
61
				
	
					
						5.04

					
					
						Binding Effect

					
61
				
	
					
						5.05

					
					
						Financial Statements; No Material Adverse Effect

					
61
				
	
					
						5.06

					
					
						Litigation

					
62
				
	
					
						5.07

					
					
						No Default

					
62
				
	
					
						5.08

					
					
						Ownership of Property; Liens

					
62
				
	
					
						5.09

					
					
						Environmental Compliance

					
62
				
	
					
						5.10

					
					
						Insurance

					
63
				
	
					
						5.11

					
					
						Taxes

					
63
				

		 

		

			NYDOCS03/1048584.7i

		

 

		

			 

		

	
					
						

					
						5.12

					
					
						ERISA Compliance

					
63
				
	
					
						5.13

					
					
						Subsidiaries; Equity Interests

					
64
				
	
					
						5.14

					
					
						Margin Regulations; Investment Company Act

					
64
				
	
					
						5.15

					
					
						Disclosure

					
64
				
	
					
						5.16

					
					
						Compliance with Laws

					
64
				
	
					
						5.17

					
					
						Intellectual Property; Licenses, Etc.

					
65
				
	
					
						5.18

					
					
						Solvency..

					
65
				
	
					
						5.19

					
					
						Taxpayer Identification Number; Other Identifying Information

					
65
				
	
					
						5.20

					
					
						OFAC

					
65
				
	
					
						5.21

					
					
						Anti-Corruption Laws

					
65
				
	
					
						5.22

					
					
						EEA Financial Institutions

					
65
				
	
					
						5.23

					
					
						Target Acquisition Documents

					
65
				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						Article VI.

					
					
						 

					
					
						 

				
	
					
						AFFIRMATIVE COVENANTS

					
					
						 

				
	
					
						6.01

					
					
						Financial Statements

					
66
				
	
					
						6.02

					
					
						Certificates; Other Information

					
67
				
	
					
						6.03

					
					
						Notices

					
68
				
	
					
						6.04

					
					
						Payment of Obligations

					
69
				
	
					
						6.05

					
					
						Preservation of Existence, Etc.

					
69
				
	
					
						6.06

					
					
						Maintenance of Properties

					
70
				
	
					
						6.07

					
					
						Maintenance of Insurance

					
70
				
	
					
						6.08

					
					
						Compliance with Laws

					
70
				
	
					
						6.09

					
					
						Books and Records

					
70
				
	
					
						6.10

					
					
						Inspection Rights

					
70
				
	
					
						6.11

					
					
						Anti-Corruption and Anti-Terrorism Laws

					
70
				
	
					
						6.12

					
					
						Scheme and Offer Affirmative Covenants

					
70
				
	
					
						6.13

					
					
						Effective Date Fees and Expenses.

					
72
				
	
					
						Article VII.

					
					
						 

				
	
					
						NEGATIVE COVENANTS

					
					
						 

				
	
					
						7.01

					
					
						Liens

					
72
				
	
					
						7.02

					
					
						[Reserved]

					
74
				
	
					
						7.03

					
					
						Indebtedness

					
74
				
	
					
						7.04

					
					
						Fundamental Changes

					
75
				
	
					
						7.05

					
					
						Restricted Payments

					
75
				
	
					
						7.06

					
					
						Change in Nature of Business

					
76
				
	
					
						7.07

					
					
						Transactions with Affiliates

					
76
				
	
					
						7.08

					
					
						Limitation on Restrictions Affecting the Borrower or any Subsidiary

					
77
				
	
					
						7.09

					
					
						Use of Proceeds

					
78
				
	
					
						7.10

					
					
						Financial Covenants

					
78
				
	
					
						7.11

					
					
						Acquisitions

					
78
				
	
					
						7.12

					
					
						Sanctions

					
78
				
	
					
						7.13

					
					
						Anti-Corruption and Anti-Terrorism Laws

					
78
				
	
					
						7.14

					
					
						Maintenance of Government Approvals

					
79
				
	
					
						7.15

					
					
						Permitted Transactions

					
79
				
	
					
						7.16

					
					
						Scheme and Offer Negative Covenants

					
79
				
	
					
						Article VIII.

					
					
						 

				
	
					
						EVENTS OF DEFAULT AND REMEDIES

					
					
						 

				
	
					
						8.01

					
					
						Events of Default

					
80
				

		 

		

			NYDOCS03/1048584.7ii

		

 

		

			 

		

	
					
						

					
						8.02

					
					
						Remedies Upon Event of Default

					
82
				
	
					
						8.03

					
					
						Application of Funds

					
83
				
	
					
						8.04

					
					
						Clean-Up Period

					
83
				
	
					
						Article IX.

					
					
						 

					
					
						 

				
	
					
						ADMINISTRATIVE AGENT

					
					
						 

				
	
					
						9.01

					
					
						Appointment and Authority

					
84
				
	
					
						9.02

					
					
						Rights as a Lender

					
84
				
	
					
						9.03

					
					
						Exculpatory Provisions

					
84
				
	
					
						9.04

					
					
						Reliance by Administrative Agent

					
85
				
	
					
						9.05

					
					
						Delegation of Duties

					
85
				
	
					
						9.06

					
					
						Resignation of Administrative Agent

					
86
				
	
					
						9.07

					
					
						Non-Reliance on Administrative Agent and Other Lenders

					
87
				
	
					
						9.08

					
					
						No Other Duties, Etc.

					
87
				
	
					
						9.09

					
					
						Administrative Agent May File Proofs of Claim

					
87
				
	
					
						Article X.

					
					
						 

					
					
						 

				
	
					
						MISCELLANEOUS

					
					
						 

				
	
					
						10.01

					
					
						Amendments, Etc.

					
88
				
	
					
						10.02

					
					
						Notices; Effectiveness; Electronic Communication

					
89
				
	
					
						10.03

					
					
						No Waiver; Cumulative Remedies; Enforcement

					
91
				
	
					
						10.04

					
					
						Expenses; Indemnity; Damage Waiver

					
92
				
	
					
						10.05

					
					
						Payments Set Aside

					
94
				
	
					
						10.06

					
					
						Successors and Assigns

					
94
				
	
					
						10.07

					
					
						Treatment of Certain Information; Confidentiality

					
98
				
	
					
						10.08

					
					
						Right of Setoff

					
99
				
	
					
						10.09

					
					
						Interest Rate Limitation

					
100
				
	
					
						10.10

					
					
						Counterparts; Integration; Effectiveness

					
100
				
	
					
						10.11

					
					
						Survival of Representations and Warranties

					
100
				
	
					
						10.12

					
					
						Severability

					
101
				
	
					
						10.13

					
					
						Replacement of Lenders

					
101
				
	
					
						10.14

					
					
						Governing Law; Jurisdiction; Etc.

					
102
				
	
					
						10.15

					
					
						WAIVER OF JURY TRIAL

					
103
				
	
					
						10.16

					
					
						No Advisory or Fiduciary Responsibility

					
103
				
	
					
						10.17

					
					
						USA PATRIOT Act Notice

					
104
				
	
					
						10.18

					
					
						Judgment Currency

					
104
				
	
					
						10.19

					
					
						Electronic Execution of Assignments and Certain Other Documents

					
104
				
	
					
						10.20

					
					
						Acknowledgment and Consent to Bail-In of EEA Financial Institutions

					
105
				

		
			 
		

		
			 
		

		
			
		

		
			

		 

		

			NYDOCS03/1048584.7iii

		

 

		

			 

		

		

		
			SCHEDULES
		

		
			1.01     Existing Subsidiary Indebtedness
		

		
			2.01Commitments and Applicable Percentages
		

		
			5.06Litigation
		

		
			5.13Subsidiaries and Other Equity Investments
		

		
			7.01Existing Liens
		

		
			7.03Existing Indebtedness
		

		
			10.02Administrative Agent’s Office; Certain Addresses for Notices
		

		
			EXHIBITS
		

		
			Form of
		

		
			ALoan Notice
		

		
			BNote
		

		
			CCompliance Certificate
		

		
			D-1Assignment and Assumption
		

		
			D-2Administrative Questionnaire
		

		
			E-1Form of Opinion of Covington & Burling LLP
		

		
			E-2Form of Opinion of Vice President and Corporate Secretary of the Borrower
		

		
			FForms of U.S. Tax Compliance Certificates
		

		
			 
		

		
			 
		

		
			 
		

		
			

		 

		

			NYDOCS03/1048584.7iv

		

 

		

			 

		

		

		
			SENIOR UNSECURED BRIDGE CREDIT AGREEMENT
		

		
			This SENIOR UNSECURED BRIDGE CREDIT AGREEMENT (“Agreement”) is entered into as of July 27, 2016, among AVNET, INC., a New York corporation (the “Borrower”), each lender from time to time party hereto (collectively, the “Lenders” and individually, a “Lender”), and BANK OF AMERICA, N.A., as Administrative Agent.
		

		
			WHEREAS, the Borrower will make an announcement under Rule 2.7 (the “2.7 Announcement”) of the City Code on Takeovers and Mergers in the United Kingdom (the “City Code”), announcing its firm intention to make an offer to acquire (the “Target Acquisition”) the entire issued and to be issued share capital of Premier Farnell plc, a public limited company organized under the laws of England and Wales (the “Target”).
		

		
			WHEREAS, in connection with the Target Acquisition, the Borrower intends to finance the cash consideration and any fees and expenses related to the Target Acquisition with the proceeds of up to £707.0 million and $250.0 million from borrowings under the commitments hereunder.
		

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

			
	
			
				Article I.
			

DEFINITIONS AND ACCOUNTING TERMS

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

		
			 
		

		
			“Acquisition” means the acquisition of (i) a controlling equity or other ownership interest in another Person (including upon the exercise of an option, warrant or convertible or similar type security to acquire such a controlling interest), whether by purchase of such equity or other ownership interest or upon exercise of an option or warrant for, or conversion of securities into, such equity or other ownership interest, or (ii) assets of another Person (whether by purchase, merger or otherwise) which constitute all or substantially all of the assets of such Person or of a line or lines of business conducted by such Person.
		

		
			“Adjusted Receivables Amount” means, as of any date of determination, the greater of (a) the aggregate net book value of all Excluded Receivables minus $75,000,000, and (b) $0.
		

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

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

		
			

		 

		

			NYDOCS03/1048584.71

		

 

		

			 

		

		

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

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

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

		
			“Agreement” has the meaning specified in the introductory paragraph.
		

		
			“Applicable Percentage” means with respect to any Lender at any time, the percentage (carried out to the ninth decimal place) of the Aggregate Commitments (or of the Tranche A-1 Commitments, the Tranche A-2 Commitments and/or the Tranche B Commitments, as applicable) or total Loans (or total Tranche A-1 Loans, Tranche A-2 Loans and/or Tranche B Loans, as applicable)  represented by such Lender’s Commitment (or Tranche A-1 Commitment, Tranche A-2 Commitment and/or Tranche B Commitment, as applicable)  or Loan (or Tranche A-1 Loan, Tranche A-2 Loan and/or Tranche B Loan, as applicable)  at such time, subject to adjustment as provided in Section 2.12.  The initial Applicable Percentage of each Lender is set forth opposite the name of such Lender on Schedule 2.01 or in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable.
		

		
			“Applicable Rate” means, from time to time, the following percentages per annum, based upon the Debt Rating as set forth below:
		

			
					
						Pricing Level

					
					
						Debt Ratings S&P/Moody’s

					
					
						Eurocurrency Rate 

				
	
					
						 

					
					
						 

					
					
						Target Acquisition Closing Date -

					
						Day 89

					
					
						Day 90 -

					
						Day 179

					
					
						Day 180 -

					
						Day 269

					
					
						Day 270 -

					
						Maturity Date

				
	
					
						1

					
					
						BBB/Baa2 or better

					
					
						1.250%

					
					
						1.500%

					
					
						1.750%

					
					
						2.000%

				
	
					
						2

					
					
						BBB-/Baa3

					
					
						1.500%

					
					
						1.750%

					
					
						2.000%

					
					
						2.250%

				
	
					
						3

					
					
						Crossover Rating

					
					
						1.750%

					
					
						2.125%

					
					
						2.500%

					
					
						2.875%

				
	
					
						4

					
					
						2 Non-Investment Grade Ratings

					
					
						2.500%

					
					
						3.000%

					
					
						3.500%

					
					
						4.000%

				

		
			 
		

			
					
						Pricing Level

					
					
						Debt Ratings S&P/Moody’s

					
					
						Base Rate 

				
	
					
						 

					
					
						 

					
					
						Target Acquisition Closing Date -

					
						Day 89

					
					
						Day 90 -

					
						Day 179

					
					
						Day 180 -

					
						Day 269

					
					
						Day 270 -

					
						Maturity Date

				
	
					
						1

					
					
						BBB/Baa2 or better

					
					
						0.250%

					
					
						0.500%

					
					
						0.750%

					
					
						1.000%

				
	
					
						2

					
					
						BBB-/Baa3

					
					
						0.500%

					
					
						0.750%

					
					
						1.000%

					
					
						1.250%

				
	
					
						3

					
					
						Crossover Rating

					
					
						0.750%

					
					
						1.125%

					
					
						1.500%

					
					
						1.875%

				
	
					
						4

					
					
						2 Non-Investment Grade Ratings

					
					
						1.500%

					
					
						2.000%

					
					
						2.500%

					
					
						3.000%

				

		
			 
		

		
			

		 

		

			NYDOCS03/1048584.72

		

 

		

			 

		

		

		
			“Crossover Rating” means, as of any date of determination, one Investment Grade Rating and one Debt Rating that is not an Investment Grade Rating.
		

		
			“Debt Rating” means, as of any date of determination, the rating as determined by either S&P or Moody’s (collectively, the “Debt Ratings”) of the Borrower’s non-credit-enhanced, senior unsecured long-term debt; provided that (a) if a Debt Rating is issued by each of the foregoing rating agencies, then the higher of such Debt Ratings shall apply (with the Debt Rating for Pricing Level 1 being the highest and the Debt Rating for Pricing Level 4 being the lowest); (b) if the Borrower has only one Debt Rating, the Pricing Level of such Debt Level shall apply; and (c) if the Borrower does not have any Debt Rating, Pricing Level 4 shall apply.
		

		
			“Investment Grade Rating” means, as of any date of determination, the Debt Rating of BBB- or better from S&P and the Debt Rating of Baa3 or better from Moody’s.
		

		
			“Non-Investment Grade Rating” means, as of any date of determination, a Debt Rating that is not an Investment Grade Rating.
		

		
			Initially, the Applicable Rate shall be determined based upon the Debt Ratings in effect on the  Closing Date or the Tranche B Closing Date, as applicable, each of which shall be specified in the certificate delivered pursuant to Section 4.02(I)(d) or Section 4.02(III)(c)(D), as applicable.  Thereafter, each change in the Applicable Rate resulting from a publicly announced change in any Debt Rating shall be effective during the period commencing on the date of the public announcement thereof and ending on the date immediately preceding the effective date of the next such change.
		

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

		
			“Arranger” means Merrill Lynch, Pierce, Fenner & Smith Incorporated (or any other registered broker-dealer wholly-owned by Bank of America Corporation to which all or substantially all of Bank of America Corporation’s or any of its subsidiaries’ investment banking, commercial lending services or related businesses may be transferred following the date of this Agreement), in its capacity as sole lead arranger and sole bookrunner.
		

		
			“Asset Sale” means any non-ordinary course sale, transfer or other disposition of assets or series of related non-ordinary course sales, transfers or other dispositions by the Borrower or any of its Material Subsidiaries other than any sale, transfer or disposition (i) by the Borrower to any of its Subsidiaries or by any Subsidiary of the Borrower to the Borrower or any other Subsidiary of the Borrower, (ii) of accounts receivable under any Permitted Securitization Facility and (iii) of worn-out or obsolete assets.
		

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

		
			“Assignment and Assumption” means an assignment and assumption entered into by a Lender and an Eligible Assignee (with the consent of any party whose consent is required by 

		 

		

			NYDOCS03/1048584.73

		

 

		

			 

		

Section 10.06(b)), and accepted by the Administrative Agent, in substantially the form of Exhibit D-1 or any other form (including electronic documentation generated by use of an electronic platform) approved by the Administrative Agent.
		

		
			“Attributable Indebtedness” means, on any date:
		

		
			(a)in respect of any capital lease of any Person, the capitalized amount thereof that would appear on a balance sheet of such Person prepared as of such date in accordance with GAAP;
		

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

		
			(c)in respect of any asset securitization transaction of any Person, (i) the actual amount of any unrecovered investment of purchasers or transferees of assets so transferred, plus (ii) in the case of any other recourse, repurchase, or debt obligation described in clause (a) of the definition of “Off-Balance Sheet Liabilities,” the capitalized amount of such obligation that would appear on a balance sheet of such Person prepared on such date in accordance with GAAP if such sale or transfer or assets were accounted for as a secured loan.
		

		
			“Audited Financial Statements” means the audited consolidated balance sheet of the Borrower and its Subsidiaries for the fiscal year ended June 29, 2015, and the related consolidated statements of income or operations, shareholders’ equity and cash flows for such fiscal year of the Borrower and its Subsidiaries, including the notes thereto.
		

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

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

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

		
			“Base Rate” means for any day a fluctuating rate per annum equal to the highest of (a) the Federal Funds Rate plus 0.50%, (b) the rate of interest in effect for such day as publicly announced from time to time by Bank of America as its “prime rate,” and (c) the Eurocurrency Rate plus 1.00%.  The “prime rate” is a rate set by Bank of America based upon various factors including Bank of America’s costs and desired return, general economic conditions and other factors, and is used as a reference point for pricing some loans, which may be priced at, above, or below such announced rate.  Any change in such prime rate announced by Bank of America shall take effect at the opening of business on the day specified in the public announcement of such change.    
		

		
			

		 

		

			NYDOCS03/1048584.74

		

 

		

			 

		

		

		
			“Base Rate Tranche B Loan” means a Tranche B Loan that bears interest based on the Base Rate.  For the avoidance of doubt, Tranche A Loans shall only bear interest based on the Eurocurrency Rate.
		

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

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

		
			“Borrowing” means a borrowing consisting of simultaneous Loans and having the same Interest Period made by each of the Lenders pursuant to Section 2.01.
		

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

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

		
			(b)if such day relates to any interest rate settings as to a Tranche A Loan, means any such day on which dealings in deposits in Sterling are conducted by and between banks in the London interbank market for Sterling.
		

		
			“Cash Confirmation Advisor” means Merrill Lynch International.
		

		
			“Certain Funds Conditions” means each of the following:
		

			
	
			
				 (a)
			the Effective Date has occurred; 

			
	
			
				 (b)
			no Certain Funds Default is continuing or would result from the making of any Borrowing; 

			
	
			
				 (c)
			it is not unlawful for the Borrower to perform any of its material obligations under this Agreement; and

			
	
			
				 (d)
			it is not unlawful under the laws of England and Wales, New York or U.S. Federal laws for any Lender to make a Loan.

		
			“Certain Funds Covenant” means, in each case, solely in relation to the Borrower (and excluding the Target and its Subsidiaries and excluding any covenant or procurement obligation with respect to the Target and its Subsidiaries), the covenants set forth in Sections 6.05(a),  6.12(a),  6.12(b),  6.12(c),  6.12(e) (with respect to delivery of any material Offer Documents or material Scheme Documents only, as applicable), Sections  7.01 (solely to the extent of Liens voluntarily created by the Borrower), 7.03,  7.04,  7.05,  7.06(b) (other than with respect to 7.06(b)(i), to the extent that such breaches, taken as a whole, would not reasonably be expected to materially and 

		 

		

			NYDOCS03/1048584.75

		

 

		

			 

		

adversely affect the Borrower’s ability to consummate the Target Acquisition), 7.09(b),  7.11 (other than in respect of the Target Acquisition) and 7.16 (other than clause (c) thereof).
		

		
			“Certain Funds Default” means any continuing Event of Default, in each case relating to the Borrower (and excluding the Target and its Subsidiaries and excluding any Event of Default or procurement obligation with respect to the Target and its Subsidiaries), arising under Sections 8.01(a)(i),  8.01(a)(ii),  8.01(b),  8.01(c) (in the case of clauses (b) and (c) of Section 8.01, in relation to a Certain Funds Covenant only), 8.01(d) (in relation to a Certain Funds Representation only), 8.01(f),  8.01(g) and 8.01(j) (in the case of the Borrower contesting the validity or enforceability of a Loan Document, denying its obligations or liabilities thereunder, or purporting to revoke, terminate or rescind a Loan Document in circumstances that would otherwise be a breach of Section 8.01(j), only to the extent that such action is unambiguous and made in writing).
		

		
			“Certain Funds Period” means the period from and including the Effective Date and ending on the earliest of:
		

			
	
			
				 (a)
			11:59 p.m. (London time) on the date falling 7 calendar months after the date of this Agreement;

			
	
			
				 (b)
			if the Target Acquisition is to be effected by way of an Offer, the earliest of (i) the date which falls 14 days after the Offer has closed for acceptances or, if the Offer has closed in circumstances where Target is entitled or obliged to conduct a Squeeze-out Procedure such longer period as is necessary to complete such Squeeze-out Procedure, (ii) the date on which the Offer lapses or is withdrawn or terminated or the bid has lapsed, in each case, in compliance with the City Code, the requirements of the Panel and all applicable laws (and the Borrower will notify the Administrative Agent in writing as soon as reasonably practicable once it becomes aware of any such lapse, withdrawal or termination), or (iii) the date on which the Target becomes a direct or indirect wholly-owned subsidiary of the Borrower and the Borrower has paid for all the shares in the Target beneficially owned by it; and    

			
	
			
				 (c)
			if the Target Acquisition is to be effected by a Scheme, the earliest of (i) the first Business Day falling 14 days after the Scheme Effective Date, (ii) the date on which the Scheme lapses or is withdrawn or terminated, in each case, in compliance with the City Code, the requirements of the Panel and all applicable laws (and the Borrower will notify the Administrative Agent in writing as soon as reasonably practicable once it becomes aware of any such lapse, withdrawal or termination), (iii) at a court approved meeting of the Scheme Shareholders (which is not adjourned or postponed), the Scheme is not approved in accordance with the Companies Act by the requisite majority of the Scheme Shareholders (and the Borrower will notify the Administrative Agent in writing as soon as reasonably practicable once it becomes aware of such event),  (iv) a court of competent jurisdiction refuses (in its final judgment) to sanction the Scheme (and the Borrower will notify the Administrative Agent in writing as soon as reasonably practicable once it becomes aware of such event) or (v) the date on which the Target becomes a direct or indirect wholly-owned subsidiary of the Borrower and the Borrower has paid for all the shares in the Target beneficially owned by it.

		
			

		 

		

			NYDOCS03/1048584.76

		

 

		

			 

		

		

		
			“Certain Funds Representations” means, solely with respect to statements made in relation to the Borrower (and, for the avoidance of doubt, excluding the Target and its Subsidiaries and excluding any representation or procurement obligation with respect to the Target and its Subsidiaries), the representations and warranties set forth in (1) Sections 5.01(a),  5.01(b), (2) the first sentence of Section 5.02, (3) Sections 5.03,  5.04,  5.14 (insofar as it relates to a Tranche A Loan), 5.20 and 5.21(a) and (4) clause (x) of Section 5.21(b) (but only to the extent as it relates to compliance with respect to the use of proceeds of the Loans with the United States Foreign Corrupt Practices Act of 1977, the UK Bribery Act 2010, and other similar anti-corruption legislation in other jurisdictions).
		

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

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

		
			(a)any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Securities Exchange Act, but excluding any employee benefit plan of such person or its subsidiaries, and any person or entity acting in its capacity as trustee, agent or other fiduciary or administrator of any such plan) becomes the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Securities Exchange Act, except that a person or group shall be deemed to have “beneficial ownership” of all securities that such person or group has the right to acquire (such right, an “option right”), whether such right is exercisable immediately or only after the passage of time), directly or indirectly, of 35% or more of the equity securities of the Borrower entitled to vote for members of the board of directors or equivalent governing body of the Borrower on a fully-diluted basis (and taking into account all such securities that such person or group has the right to acquire pursuant to any option right); or
		

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

		 

		

			NYDOCS03/1048584.77

		

 

		

			 

		

constituting at the time of such election or nomination at least a majority of that board or equivalent governing body.
		

		
			“City Code” has the meaning specified in the recitals.
		

		
			“Clean-Up Period” has the meaning specified in Section 8.04.
		

		
			“Closing Date” means the date after the Effective Date and on or prior to the end of the Certain Funds Period on which all of the applicable conditions precedent in Section 4.02 are satisfied or waived in accordance with Section 10.01 and all or a portion of the Loans are made to the Borrower; provided,  however, that the Tranche B Closing Date shall not constitute a Closing Date.
		

		
			“Code” means the Internal Revenue Code of 1986.
		

		
			“Commitments” means, collectively, the Tranche A Commitments and the Tranche B Commitments.
		

		
			“Companies Act” means the Companies Act of 2006 of the United Kingdom, as amended.
		

		
			“Companies House” means the office for company administration and registrations in England and Wales operated by the Registrar of Companies.
		

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

		
			“Connection Income Taxes” means Other Connection Taxes that are imposed on or measured by net income (however denominated) or that are franchise Taxes or branch profits Taxes.
		

		
			“Consolidated EBITDA” means, for any period, for the Borrower and its Subsidiaries on a consolidated basis, an amount equal to Consolidated Net Income for such period plus (a) the following (to the extent deducted in calculating such Consolidated Net Income, without duplication):  (i) Consolidated Interest Charges for such period, (ii) the provision for Federal, state, local and foreign income taxes payable by the Borrower and its Subsidiaries for such period, (iii) depreciation and amortization expense, (iv) gains or losses related to the early extinguishment of notes, bonds or other fixed income obligations and (v) other non-cash or nonrecurring expenses of the Borrower and its Subsidiaries (including non-cash expenses consisting of compensation paid in the form of Equity Interests of the Borrower or its Subsidiaries and non-cash charges due to impairments recorded in such period in accordance with the Financial Accounting Standards Board’s Accounting Standards Codification 350), reducing such Consolidated Net Income and minus (b) all non-cash items increasing Consolidated Net Income for such period.
		

		
			“Consolidated Funded Indebtedness” means, as of any date of determination, for the Borrower and its Subsidiaries on a consolidated basis, the sum of (a) the outstanding principal amount of all obligations, whether current or long-term, for borrowed money (including such Obligations hereunder) and all obligations evidenced by bonds, debentures, notes, loan agreements 

		 

		

			NYDOCS03/1048584.78

		

 

		

			 

		

or other similar instruments, (b) all purchase money Indebtedness, (c) all direct obligations arising under letters of credit (including standby letters of credit), bankers’ acceptances, bank guaranties, surety bonds and similar instruments (other than, and without expanding this clause (c), commercial letters of credit and bankers’ acceptances incurred to support commercial or lease transactions, bid bonds, payment bonds and performance bonds arising in the ordinary course of business), in each case net of the amount of cash collateral securing such direct obligations, (d) all obligations in respect of the deferred purchase price of property or services (other than trade accounts payable in the ordinary course of business), (e) Attributable Indebtedness in respect of capital leases, Synthetic Lease Obligations and other Off-Balance Sheet Liabilities, (f) without duplication, all Guarantees with respect to outstanding Indebtedness of the types specified in clauses (a) through (e) above of Persons other than the Borrower or any Subsidiary, and (g) all Indebtedness of the types referred to in clauses (a) through (f) above of any partnership or joint venture (other than a joint venture that is itself a corporation or limited liability company) in which the Borrower or a Subsidiary is a general partner or joint venturer, if, and to the extent that, the fair value of the assets of such partnership or joint venture is less than its probable liability in respect of its obligations, net of any right to contribution from other reasonably creditworthy Persons which the Borrower or such Subsidiary has in respect thereof, unless such Indebtedness is expressly made non-recourse to the Borrower or such Subsidiary.
		

		
			“Consolidated Interest Charges” means, for any period, for the Borrower and its Subsidiaries on a consolidated basis, the sum, without duplication, of (a) consolidated interest expense determined in accordance with GAAP and (b) all implicit interest in connection with Synthetic Lease Obligations and other Off-Balance Sheet Liabilities minus (c) the amount of non-cash interest (including interest paid by the issuance of additional securities) included in the foregoing clause (a).
		

		
			“Consolidated Interest Coverage Ratio” means, as of any date of determination, the ratio of (a) Consolidated EBITDA for the period of the four prior fiscal quarters ending on such date to (b) Consolidated Interest Charges for such period.
		

		
			“Consolidated Leverage Ratio” means, as of any date of determination, the ratio of (a) Consolidated Funded Indebtedness as of such date to (b) Consolidated EBITDA for the period of the four fiscal quarters most recently ended.
		

		
			“Consolidated Net Income” means, for any period, for the Borrower and its Subsidiaries on a consolidated basis, the net income of the Borrower and its Subsidiaries (excluding extraordinary gains but including extraordinary losses) for that period.
		

		
			“Consolidated Tangible Net Worth” means, as of any date of determination, for the Borrower and its Subsidiaries on a consolidated basis, Shareholders’ Equity minus Intangible Assets on that date.
		

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

		
			

		 

		

			NYDOCS03/1048584.79

		

 

		

			 

		

		

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

		
			“Conversion Notice” means a written notice by the Borrower to the Administrative Agent that the Borrower intends to switch the Target Acquisition from a Scheme to an Offer (or vice versa).
		

		
			“Cost of Acquisition” means, with respect to any Acquisition, as at the date of entering into any agreement therefor, the sum of the following (without duplication):  (a) the amount of any cash and fair market value of property (excluding capital stock, warrants or options to acquire capital stock of the Borrower and the unpaid principal amount of any debt instrument) given as consideration, (b) the amount (determined by using the face amount or the amount payable at maturity, whichever is greater) of any Indebtedness incurred, assumed, acquired or repaid by the Borrower or any Subsidiary in connection with such Acquisition, (c) all additional purchase price amounts in the form of earnouts and other contingent obligations that should be recorded on the balance sheet of the Borrower and its Subsidiaries in accordance with GAAP, (d) all amounts paid in respect of covenants not to compete or consulting agreements that should be recorded on financial statements of the Borrower and its Subsidiaries in accordance with GAAP, (e) the aggregate fair market value of all other consideration given by the Borrower or any Subsidiary in connection with such Acquisition, and (f) out-of-pocket transaction costs for the services and expenses of attorneys, accountants and other consultants incurred in effecting such transaction, and other similar transaction costs so incurred and capitalized in accordance with GAAP.
		

		
			“Crossover Rating” has the meaning specified in the definition of Applicable Rate.
		

		
			“Debt Issuance” means the issuance or incurrence of Indebtedness referred to in clause (a)  of the definition thereof by the Borrower or any of its Subsidiaries (other than equity-linked securities of the Borrower that are accorded any level of equity treatment by each of S&P and Moody’s), including, for the avoidance of doubt, any issuance or incurrence of Indebtedness referred to in clause (a) of the definition thereof in connection with or to finance the Transactions (or refinance any such Indebtedness) whether or not issued and deposited in an escrow account, but excluding (i) Excluded Debt, (ii) the Loans and (iii) any trade, vendor, or customer-related financing in the ordinary course of business.
		

		
			“Debt Rating” has the meaning specified in the definition of Applicable Rate.
		

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

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

		
			

		 

		

			NYDOCS03/1048584.710

		

 

		

			 

		

		

		
			“Default Rate” means (a) when used with respect to Obligations, an interest rate equal to (i) the Base Rate plus (ii) the Applicable Rate, if any, applicable to Base Rate Loans plus 2% per annum; provided, however, that with respect to a Tranche A Loan, the Default Rate shall be an interest rate equal to the interest rate (including any Applicable Rate) applicable to such Tranche A Loan plus 2% per annum.
		

		
			“Defaulting Lender” means, subject to Section 2.12(b), any Lender that (a) has failed to (i) fund all or any portion of its Loans within two Business Days of the date such Loans were required to be funded hereunder unless such Lender notifies the Administrative Agent and the Borrower in writing that such failure is the result of such Lender’s determination that one or more conditions precedent to funding (each of which conditions precedent, together with any applicable default, shall be specifically identified in such writing) has not been satisfied, or (ii) pay to the Administrative Agent or any other Lender any other amount required to be paid by it hereunder within two Business Days of the date when due, (b) has notified the Borrower or the Administrative Agent in writing that it does not intend to comply with its funding obligations hereunder, or has made a public statement to that effect (unless such writing or public statement relates to such Lender’s obligation to fund a Loan hereunder and states that such position is based on such Lender’s determination that a condition precedent to funding (which condition precedent, together with any applicable default, shall be specifically identified in such writing or public statement) cannot be satisfied), (c) has failed, within three Business Days after written request by the Administrative Agent or the Borrower, to confirm in writing to the Administrative Agent and the Borrower that it will comply with its prospective funding obligations hereunder (provided that such Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon receipt of such written confirmation by the Administrative Agent and the Borrower), or (d) has, or has a direct or indirect parent company that has, (i) become the subject of a proceeding under any Debtor Relief Law, (ii) had appointed for it a receiver, custodian, conservator, trustee, administrator, assignee for the benefit of creditors or similar Person charged with reorganization or liquidation of its business or assets, including the Federal Deposit Insurance Corporation or any other state or federal regulatory authority acting in such a capacity or (iii) become the subject of a Bail-In Action;  provided that a Lender shall not be a Defaulting Lender solely by virtue of the ownership or acquisition of any Equity Interest in that Lender or any direct or indirect parent company thereof by a Governmental Authority so long as such ownership interest does not result in or provide such Lender with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit such Lender (or such Governmental Authority) to reject, repudiate, disavow or disaffirm any contracts or agreements made with such Lender.  Any determination by the Administrative Agent that a Lender is a Defaulting Lender under any one or more of clauses (a) through (d) above, and of the effective date of such status, shall be conclusive and binding absent manifest error, and such Lender shall be deemed to be a Defaulting Lender (subject to Section 2.12(b)) as of the date established therefor by the Administrative Agent in a written notice of such determination, which shall be delivered by the Administrative Agent to the Borrower and each other Lender promptly following such determination.
		

		
			“Designated Jurisdiction” means any country or territory to the extent that such country or territory itself is the subject of any Sanction.
		

		
			

		 

		

			NYDOCS03/1048584.711

		

 

		

			 

		

		

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

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

		
			“Dollar Equivalent” means, at any time, (a) with respect to any amount denominated in Dollars, such amount, and (b) with respect to any amount denominated in Sterling, the equivalent amount thereof in Dollars as determined by the Administrative Agent at such time on the basis of the Spot Rate (determined in respect of the most recent Revaluation Date) for the purchase of Dollars with Sterling.
		

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

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

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

		
			“Effective Date” has the meaning set forth in Section 4.01.  
		

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

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

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

		
			

		 

		

			NYDOCS03/1048584.712

		

 

		

			 

		

		

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

		
			“Equity Issuance” means the issuance of Equity Interests of the Borrower or any of its Subsidiaries to any Person following the Effective Date, other than (i) by any Subsidiary of the Borrower to the Borrower or any other Subsidiary of the Borrower and (ii) pursuant to any employee equity compensation plan, employee benefit plan, stock option or stock purchase plan, management equity plans, or other similar benefit plans or compensation arrangements or accommodations for current or former directors, officers, employees or consultants of the Borrower or any of its Subsidiaries existing on the Effective Date or established thereafter in the ordinary course of business or pursuant to dividend reinvestment plans established for the benefit of the common stockholders of the Borrower.
		

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

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

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

		
			

		 

		

			NYDOCS03/1048584.713

		

 

		

			 

		

		

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

		
			“Eurocurrency Rate” means  with respect to any Borrowing:
		

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

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

		
			provided that to the extent a comparable or successor rate is approved by the Administrative Agent in connection with any rate set forth in this definition, the approved rate shall be applied in a manner consistent with market practice; provided,  further, that to the extent such market practice is not administratively feasible for the Administrative Agent, such approved rate shall be applied in a manner as otherwise reasonably determined by the Administrative Agent and if the Eurocurrency Rate shall be less than zero, such rate shall be deemed zero for purposes of this Agreement
		

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

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

		
			“Excluded Debt” means (i) intercompany Indebtedness between or among the Borrower and any of its Subsidiaries, (ii) credit extensions under the Existing Credit Agreement and the Existing Securitization Facility, (iii) (x) credit extensions under any Indebtedness of any Subsidiary of the Borrower arising from cash pooling and related overdraft arrangements in the ordinary course of business  and (y) credit extensions under any Indebtedness of any Subsidiary of the Borrower set forth on Schedule 1.01 (for the avoidance of doubt, excluding debt securities and syndicated credit facilities) and any refinancing, renewal, refunding, extension or replacement thereof (in each case, except to the extent constituting Indebtedness of the Borrower (other than a Guarantee by the Borrower) and excluding debt securities and syndicated credit facilities) in an aggregate principal amount not to exceed the refinanced, renewed, refunded, extended or replaced funded amount thereof plus accrued and unpaid interest or premiums thereon and fees and expenses incurred in connection therewith plus (without duplication) an amount equal to any commitment unutilized thereunder and (iv) other Indebtedness (other than debt securities and syndicated credit facilities) not included in clauses (i),  (ii) and (iii) above in an outstanding aggregate principal amount not to exceed $150,000,000; provided,  further, in no event shall any 

		 

		

			NYDOCS03/1048584.714

		

 

		

			 

		

Indebtedness (other than credit extensions pursuant to immediately preceding clause (ii)) which gives effect (whether in whole or in part) to the refinancing, renewal, refunding, extension or replacement of the Borrower’s existing 6.625% Notes due 2016 constitute “Excluded Debt”.
		

		
			“Excluded Receivables” means, as of any date of determination, all accounts receivable referred to in Item 1 of Schedule 7.01.
		

		
			“Excluded Taxes” means any of the following Taxes imposed on or with respect to any Recipient or required to be withheld or deducted from a payment to a Recipient, (a) Taxes imposed on or measured by net income (however denominated), franchise Taxes, and branch profits Taxes, in each case, (i) imposed as a result of such Recipient being organized under the laws of, or having its principal office or, in the case of any Lender, its Lending Office located in, the jurisdiction imposing such Tax (or any political subdivision thereof) or (ii) that are Other Connection Taxes, (b) in the case of a Lender, U.S. federal withholding Taxes imposed on amounts payable to or for the account of such Lender with respect to an applicable interest in a Loan or Commitment pursuant to a law in effect on the date on which (i) such Lender acquires such interest in the Loan or Commitment (other than pursuant to an assignment request by the Borrower under Section 10.13) or (ii) such Lender changes its Lending Office, except in each case to the extent that, pursuant to Section 3.01(a)(ii),  (a)(iii) or (c), amounts with respect to such Taxes were payable either to such Lender’s assignor immediately before such Lender became a party hereto or to such Lender immediately before it changed its Lending Office, (c) Taxes attributable to such Recipient’s failure to comply with Section 3.01(e) and (d) any U.S. federal withholding Taxes imposed pursuant to FATCA.
		

		
			“Existing Credit Agreement” means that certain Credit Agreement dated as of July 9, 2014 among the Borrower, certain subsidiaries of the Borrower, the lenders from time to time party thereto, and Bank of America, N.A., as Administrative Agent, the L/C Issuer and the Swing Line Lender.
		

		
			“Existing Securitization Facility” means the account receivable securitization pursuant to the second amended and restated receivables purchase agreement dated as of August 26, 2010, as amended, among Avnet Receivables Corporation, the Borrower as servicer, the financial institutions party thereto as purchasers, and JPMorgan Chase Bank, N.A. (successor by merger to Bank One, NA) as agent for the purchasers, as amended, restated, supplemented or otherwise modified from time to time, including any extensions, renewals, replacements and refinancings thereof; provided, that each such agreement (as amended, restated, supplemented or otherwise modified from time to time) or extension, renewal, replacement or refinancing, as the case may be, satisfies the requirements set forth in clause (b) of the definition of Permitted Securitization Facility.
		

		
			“Existing Target Notes” means (i) the 5.2% Dollar Guaranteed Senior Notes payable 2017, (ii) the 4.4% Dollar Guaranteed Senior Notes payable 2018, (iii) the 4.8% Dollar Guaranteed Senior Notes payable 2021 and (iv) the 4.0% Dollar Guaranteed Senior Notes payable 2024.
		

		
			“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 

		 

		

			NYDOCS03/1048584.715

		

 

		

			 

		

materially more onerous to comply with) and any current or future regulations or official interpretations thereof and any agreements entered into pursuant to Section 1471 (b) (1) of the Code.
		

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

		
			“Fee Letter” means the Fee Letter dated as of the date hereof, between the Borrower and the Arranger, as amended, modified, restated or otherwise supplemented from time to time.
		

		
			“Financing Transactions” means the execution, delivery and performance by the Borrower of this Agreement and the borrowings of Loans by the Borrower. 
		

		
			“Foreign Lender” means any Lender that is not a U.S. Person.  For purposes of this definition, the United States, each State thereof and the District of Columbia shall be deemed to constitute a single jurisdiction.
		

		
			“Foreign Subsidiary” means any Subsidiary that is organized under the laws of a jurisdiction other than the United States, a State thereof or the District of Columbia.
		

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

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

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

		
			“Governmental Authority” means the government of the United States or any other nation, or of any political subdivision thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to 

		 

		

			NYDOCS03/1048584.716

		

 

		

			 

		

government (including any supra-national bodies such as the European Union or the European Central Bank).
		

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

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

		
			“HMT” has the meaning set forth in the definition of “Sanction(s)”.
		

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

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

		
			(b)all direct or contingent obligations of such Person arising under letters of credit (including standby letters of credit), bankers’ acceptances, bank guaranties, surety bonds and similar instruments (other than commercial letters of credit and bankers’ acceptances incurred to support commercial transactions, bid bonds, payment bonds and performance bonds arising in the ordinary course of business);
		

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

		
			

		 

		

			NYDOCS03/1048584.717

		

 

		

			 

		

		

		
			(d)all obligations of such Person to pay the deferred purchase price of property or services (other than current trade accounts payable in the ordinary course of business);
		

		
			(e)indebtedness (excluding prepaid interest thereon) secured by a Lien on property owned or being purchased by such Person (including indebtedness arising under conditional sales or other title retention agreements), whether or not such indebtedness shall have been assumed by such Person or is limited in recourse;
		

		
			(f)capital leases, Synthetic Lease Obligations and other Off-Balance Sheet Liabilities;
		

		
			(g)all obligations of such Person to purchase, redeem, retire, defease or otherwise make any payment in respect of any Equity Interest in such Person or any other Person, valued, in the case of a redeemable preferred interest, at the greater of its voluntary or involuntary liquidation preference plus accrued and unpaid dividends; and
		

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

		
			For all purposes hereof, the Indebtedness of any Person shall include the Indebtedness of any partnership or joint venture (other than a joint venture that is itself a corporation or limited liability company) in which such Person is a general partner or a joint venturer, if, and to the extent that, the fair value of the assets of such partnership or joint venture is less than its probable liability in respect of its obligations, net of any right to contribution from other reasonably creditworthy Persons which the Borrower or such Subsidiary has in respect thereof,  unless such Indebtedness is expressly made non-recourse to such Person.  The amount of any net obligation under any Swap Contract on any date shall be deemed to be the Swap Termination Value thereof as of such date.  The amount of any capital lease, Synthetic Lease Obligation or other Off-Balance Sheet Liability as of any date shall be deemed to be the amount of Attributable Indebtedness in respect thereof as of such date.  
		

		
			Notwithstanding the foregoing, for purposes of this Agreement, the term Indebtedness shall not include any liability of the Borrower or a Subsidiary under any deferred compensation plan or similar arrangement covering employees or members of the board of directors of the Borrower.
		

		
			“Indemnified Taxes” means (a) Taxes, other than Excluded Taxes, imposed on or with respect to any payment made by or on account of any obligation of the Borrower under any Loan Document and (b) to the extent not otherwise described in clause (a), Other Taxes.
		

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

		
			“Information” has the meaning specified in Section 10.07.
		

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

		
			

		 

		

			NYDOCS03/1048584.718

		

 

		

			 

		

		

		
			“Inter-Company Indebtedness” has the meaning specified in Section 7.03(j).
		

		
			“Interest Payment Date” means (a) as to any Loan other than a Base Rate Tranche B Loan, the last day of each Interest Period applicable to such Loan and the relevant Maturity Date; provided, however, that if any Interest Period for any Tranche A Loan or any Eurocurrency Tranche B Loan, as applicable, exceeds three months, the respective dates that fall every three months after the beginning of such Interest Period shall also be Interest Payment Dates and (b) as to any Base Rate Tranche B Loan, the last Business Day of each March, June, September and December and the Tranche B Maturity Date.
		

		
			“Interest Period” means, as to each Tranche A Loan and each Eurocurrency Rate Tranche B Loan, the period commencing on the date such Loan is disbursed or converted to (solely in the case of Eurocurrency Rate Tranche B Loans), or continued and ending (a) in the case of any Eurocurrency Rate Tranche B Loan, on the date one, two, three or six months thereafter or (if the Administrative Agent determines that such Interest Period is available) seven or fourteen days thereafter or (b) as to any Tranche A Loan, on the date one, two, or three months thereafter, in each case subject to availability and as selected by the Borrower in its Loan Notice; provided that:
		

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

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

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

		
			“Investment Grade Rating” has the meaning specified in the definition of Applicable Rate.
		

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

		
			“IRS” means the United States Internal Revenue Service.
		

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

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

		
			

		 

		

			NYDOCS03/1048584.719

		

 

		

			 

		

		

		
			“Lending Office” means, as to any Lender, the office or offices of such Lender described as such in such Lender’s Administrative Questionnaire, or such other office or offices as a Lender may from time to time notify the Borrower and the Administrative Agent, which office may include any Affiliate of such Lender or any domestic or foreign branch of such Lender or such Affiliate.  Unless the context otherwise requires each reference to a Lender shall include its applicable Lending Office.
		

		
			“LIBOR” has the meaning specified in the definition of Eurocurrency Rate.
		

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

		
			“Loan Documents” means this Agreement, each Note and the Fee Letter.
		

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

		
			“Loans” means collectively, the Tranche A Loans and the Tranche B Loans. 
		

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

		
			“Material Adverse Effect” means (a) a material adverse change in, or a material adverse effect upon, the operations, business, properties or condition (financial or otherwise) of the Borrower; (b) a material impairment of the ability of the Borrower to perform its obligations under the Loan Documents; (c) a material adverse effect upon the rights or remedies of the Administrative Agent or any Lender under the Loan Documents; or (d) a material adverse effect upon the legality, validity, binding effect or enforceability against the Borrower of any Loan Document.
		

		
			“Material Subsidiary” means, at any time, any Subsidiary which had total revenues in the four fiscal quarter period most recently ended in excess of 5% of the total revenues of the Borrower and its Subsidiaries on a consolidated basis.
		

		
			“Maturity Date” means the Tranche A-1 Maturity Date, the Tranche A-2 Maturity Date or the Tranche B Maturity Date, as applicable; provided,  however, that if such date is not a Business Day, the applicable Maturity Date shall be the immediately preceding Business Day.
		

		
			“Minimum Acceptance Level” means receipt of valid acceptances (which have not been withdrawn) in respect of shares in the Target such that following acquisition of such shares, 

		 

		

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the Borrower will hold not less than 75% (or such lesser percentage (but in no event less than 50.1%) as elected by the Borrower after, to the extent necessary, consultation with the Panel) of each class of shares in the Target on a fully diluted basis.
		

		
			“MNPI Information” has the meaning specified in Section 6.02.
		

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

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

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

		
			“Net Cash Proceeds” means the proceeds actually received by the Borrower or any of its Subsidiaries in the form of cash or cash equivalents (it being understood that cash equivalents will not include Equity Interests) from any Debt Issuance, Equity Issuance or Asset Sale or, in the case of any Recovery Event, any insurance proceeds or condemnation awards in respect of such Recovery Event, in each case net of (i) brokers’, investment bankers’ and advisors’ (including legal, accountants, consultants and financial advisors) fees and other discounts, commissions, placement fees and other fees, costs and expenses incurred in connection with any such transaction (provided that, for purposes of calculating the Net Cash Proceeds from any Debt Issuance issued and deposited into an escrow account, the Net Cash Proceeds shall be net of a reasonable amount of fees, costs and expenses estimated in good faith by the Borrower to be deducted from the proceeds deposited into such escrow account upon release from escrow) and (ii) in the case of any Asset Sale or Recovery Event, (A) amounts required to be applied to the repayment of any Indebtedness (or other obligations) secured by a Lien on an asset which is the subject of such Asset Sale or Recovery Event, (B) Taxes paid or reasonably estimated to be payable as a result thereof, (C) the amount of any reserves established to fund contingent liabilities reasonably estimated to be payable as a result thereof (provided that, upon any termination of such reserves, all such amounts not paid out in connection therewith shall be deemed to be “Net Cash Proceeds” of such Asset Sale), (D) proceeds of any Asset Sale or Recovery Event by Foreign Subsidiaries to the extent the repatriation of such proceeds to the United States is prohibited or delayed by applicable local law or would in the reasonable judgment of the Borrower have a materially adverse tax consequence (provided that upon the cessation of such delay, the proceeds subject to such delay shall be deemed to be “Net Cash Proceeds” of such Asset Sale or Recovery Event), and (E) the amount of any short-term liabilities directly associated with such asset and retained by the Borrower or any of its Subsidiaries; provided that no proceeds of an Asset Sale or Recovery Event shall constitute Net Cash Proceeds except to the extent in excess of $100,000,000 in the aggregate for all Asset Sales and Recovery Events. Any such proceeds received by a Subsidiary that is not wholly owned shall only be “Net Cash Proceeds” to the extent that the Borrower may cause such proceeds to be distributed to it or to a wholly owned Subsidiary under applicable law and subject to any contractual restriction binding on or affecting such Subsidiary.
		

		
			

		 

		

			NYDOCS03/1048584.721

		

 

		

			 

		

		

		
			“Non-Investment Grade Rating” has the meaning specified in the definition of Applicable Rate.
		

		
			“Non-Material Subsidiary” means any Subsidiary which is not a Material Subsidiary.
		

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

		
			“Obligations” means all advances to, and debts, liabilities, obligations, covenants and duties of, the Borrower arising under any Loan Document or otherwise with respect to any Loan, whether direct or indirect (including those acquired by assumption), absolute or contingent, due or to become due, now existing or hereafter arising and including interest and fees that accrue after the commencement by or against the Borrower or any Affiliate thereof of any proceeding under any Debtor Relief Laws naming such Person as the debtor in such proceeding, regardless of whether such interest and fees are allowed claims in such proceeding.
		

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

		
			“Offer” means a contractual takeover offer within the meaning of Section 974 of the Companies Act made by the Borrower to effect the Target Acquisition (as that offer may be amended, added to, revised, renewed or waived in a manner permitted by this Agreement).
		

		
			“Offer Documents” means any offer document sent by the Borrower to the shareholders of the Target in respect of the Offer (along with any revision to the Offer) or any document to reflect a change from a Scheme to an Offer and any other document designated as such by the Borrower and the Arranger.
		

		
			“Offer Press Release” means the press release announcing, in compliance with Rule 2.7 of the City Code, a firm intention to make the Offer, which shall be consistent in all material respects with the press release provided to the Administrative Agent pursuant to Section 4.01(c).
		

		
			“Offer Unconditional Date” means the date on which the Offer becomes or is declared unconditional in all respects.
		

		
			“Off-Balance Sheet Liabilities” means, with respect to any Person as of any date of determination thereof, without duplication and to the extent not included as a liability on the consolidated balance sheet of such Person and its Subsidiaries in accordance with GAAP:  (a) with respect to any asset securitization transaction (including any accounts receivable purchase facility), the unrecovered investment of purchasers or transferees of assets so transferred and the principal amount of any recourse, repurchase or debt obligations incurred in connection therewith; and (b) the monetary obligations under any financing lease or so-called “synthetic,” tax retention or off-balance sheet lease transaction which, upon the application of any Debtor Relief Law to such Person or any of its Subsidiaries, would be characterized as indebtedness.
		

		
			

		 

		

			NYDOCS03/1048584.722

		

 

		

			 

		

		

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

		
			“Other Connection Taxes” means, with respect to any Recipient, Taxes imposed as a result of a present or former connection between such Recipient and the jurisdiction imposing such Tax (other than connections arising from such Recipient having executed, delivered, become a party to, performed its obligations under, received payments under, received or perfected a security interest under, engaged in any other transaction pursuant to or enforced any Loan Document, or sold or assigned an interest in any Loan or Loan Document).
		

		
			“Other Taxes” means all present or future stamp, court or documentary, intangible, recording, filing or similar Taxes that arise from any payment made under, from the execution, delivery, performance, enforcement or registration of, from the receipt or perfection of a security interest under, or otherwise with respect to, any Loan Document, except any such Taxes that are Other Connection Taxes imposed with respect to an assignment (other than an assignment made pursuant to Section 3.06).
		

		
			“Outstanding Amount” means with respect to Loans on any date, the aggregate outstanding principal amount thereof after giving effect to any borrowings and prepayments or repayments of such Loans occurring on such date.
		

		
			“Overnight Rate” means, for any day, (a) with respect to any amount denominated in Dollars, the greater of (i) the Federal Funds Rate and (ii) an overnight rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation and (b) with respect to any amount denominated in Sterling, the rate of interest per annum at which overnight deposits in Sterling, in an amount approximately equal to the amount with respect to which such rate is being determined, would be offered for such day by a branch or Affiliate of Bank of America in the applicable London interbank market for Sterling to major banks in such interbank market.
		

		
			“Panel” means the Panel on Takeovers and Mergers in the United Kingdom.
		

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

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

		
			“PATRIOT Act” has the meaning specified in Section 10.17.
		

		
			“PBGC” means the Pension Benefit Guaranty Corporation, and any successor entity performing similar functions with respect to ERISA.
		

		
			

		 

		

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

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

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

		
			“Permitted Acquisition” means any Acquisition that is permitted by the terms of Section 7.11.
		

		
			“Permitted Business” means any type of business in which the Borrower and its Subsidiaries were engaged on the Target Acquisition Closing Date and any business reasonably related or incidental thereto.    
		

		
			“Permitted Securitization Facilities” means, collectively, (a) the Existing Securitization Facility and (b) any other account receivable securitization facility so long as the Indebtedness thereunder and other payment obligations with respect thereto are nonrecourse to the Borrower and its Subsidiaries (other than any Special Purpose Finance Subsidiary), other than limited recourse provisions that are customary for transactions of such type and do not have the effect of Guaranteeing the repayment of any such Indebtedness or limiting the loss or credit risk of lenders or purchasers with respect to payment or performance by the obligors of the accounts receivable so transferred; provided, that (i) the aggregate outstanding Attributable Indebtedness under the Existing Securitization Facility and any other account receivable securitization facilities described in clause (b) plus (ii) the Adjusted Receivables Amount, shall not at any time exceed the greater of (x) $800,000,000, and (y) 35% of the aggregate net book value of all accounts receivable of the Borrower and its Subsidiaries (including those accounts receivable subject to the Existing Securitization Facility or any other account receivable securitization facilities described in clause (b)).
		

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

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

		
			“Platform” has the meaning specified in Section 6.02.
		

		
			“Press Release” means (in relation to the Offer), the Offer Press Release or (in relation to the Scheme), the Scheme Press Release.
		

		
			

		 

		

			NYDOCS03/1048584.724

		

 

		

			 

		

		

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

		
			“Qualifying Term Loan Facility” means a term loan facility (whether the borrower thereunder is the Borrower or a Subsidiary of the Borrower), the proceeds of which will be applied to pay a portion of the cash consideration payable in connection with the Target Acquisition, Transaction Costs and/or to refinance the Loans made hereunder and which is subject to conditions precedent to funding and limitations on assignments prior to the Closing Date (collectively, the “certain funds conditionality provisions”) that are no less favorable (subject to the immediately succeeding proviso) to the Borrower or the borrower under such Qualifying Term Loan Facility than the conditions precedent to the funding of the Loans and the limitations on assignments prior to the Closing Date set forth herein, as reasonably determined by the Borrower (provided that it is understood and agreed that the certain funds conditionality provisions shall be permitted to be modified to be expanded to also include the Borrower to the extent it is a parent guarantor thereunder, as well as the borrower(s) under such term loan facility, and any other guarantor (if any) thereunder).
		

		
			“Rate Determination Date” means two (2) Business Days prior to the commencement of an Interest Period (or such other day as is generally treated as the rate fixing day by market practice in the applicable interbank market, as determined by the Administrative Agent); provided that to the extent such market practice is not administratively feasible for the Administrative Agent, such other day as otherwise reasonably determined by the Administrative Agent.
		

		
			“Receiving Agent” means the receiving agent appointed in accordance with the Receiving Agent’s Letter.
		

		
			“Receiving Agent’s Letter” means the letter appointing the Receiving Agent in respect of the Offer.
		

		
			“Recipient” means the Administrative Agent, any Lender or any other recipient of any payment to be made by or on account of any obligation of the Borrower hereunder.
		

		
			“Recovery Event” means (i) any damage to, destruction of, or other casualty or loss involving any property or asset or (ii) any seizure, condemnation, confiscation or taking under the power of eminent domain of, or any relinquishing of title or use of or relating to, or any similar event in respect of, any property or asset, in each case of the Borrower or any of its Subsidiaries.
		

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

		
			“Registered Public Accounting Firm” has the meaning specified in the Securities Laws and shall be independent of the Borrower as prescribed by the Securities Laws.
		

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

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

		
			

		 

		

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			“Required Lenders” means, as of any date of determination, Lenders having more than 50% of the Aggregate Commitments or Lenders holding in the aggregate more than 50% of the aggregate Outstanding Amount of all Loans, as applicable; provided that the Commitment of, and the portion of the Outstanding Amount of all Loans held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Required Lenders.
		

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

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

		
			“Revaluation Date” means, with respect to any Tranche A Loan, each of the following:  (a) the date of a Borrowing of a Tranche A Loan, (b) each date of a continuation of a Tranche A Loan pursuant to Section 2.02, and (c) such additional dates as the Administrative Agent shall determine or the Required Lenders shall require.
		

		
			“S&P” means Standard & Poor’s Financial Services LLC and any successor thereto.
		

		
			“Same Day Funds” means (a) with respect to disbursements and payments in Dollars, immediately available funds, and (b) with respect to disbursements and payments in Sterling, same day or other funds as may be determined by the Administrative Agent to be customary in the place of disbursement or payment for the settlement of international banking transactions in Sterling.
		

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

		
			“Sarbanes-Oxley” means the Sarbanes-Oxley Act of 2002.
		

		
			“Scheme” means a scheme of arrangement made pursuant to Part 26 of the Companies Act proposed by the Target to the Scheme Shareholders in connection with the acquisition by the Borrower of the Target Shares as contemplated by the Scheme Circular (as such 

		 

		

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Scheme may be amended, added to, revised, renewed or waived in a manner permitted by this Agreement).
		

		
			“Scheme Circular” means the circular to the Scheme Shareholders to be issued by or on behalf of the Target setting out the proposals for the Scheme stating the recommendation with respect to the Target Acquisition and the relevant Scheme to the Scheme Shareholders by the board of directors of the Target which is consistent in all material respects with the Scheme Press Release and convening a court approved meeting of the Scheme Shareholders in order to seek their approval of the Scheme.
		

		
			“Scheme Documents” means the Scheme Press Release, the Scheme Resolution and the Scheme Circular and any other document designated as a Scheme Document by the Borrower and the Administrative Agent.
		

		
			“Scheme Effective Date” means the date on which a copy of the court order sanctioning the Scheme is duly filed on behalf of the Target with the Registrar of Companies in accordance with section 899 of the Companies Act.
		

		
			“Scheme Press Release” means the press release announcing the terms of the Scheme in compliance with Rule 2.7 of the City Code, which shall be consistent in all material respects with the press release provided to the Administrative Agent pursuant to Section 4.01(c).
		

		
			“Scheme Resolution” means the resolution referred to and in the form set out in the Scheme Circular.
		

		
			“Scheme Shareholders” means all the holders of the Scheme Shares.
		

		
			“Scheme Shares” means the shares in the Target subject to the Scheme being all of the Target Shares.
		

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

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

		
			“Securities Laws” means the Securities Act of 1933, the Securities Exchange Act, Sarbanes-Oxley and the applicable accounting and auditing principles, rules, standards and practices promulgated, approved or incorporated by the SEC or the Public Company Accounting Oversight Board, as each of the foregoing may be amended and in effect on any applicable date hereunder.
		

		
			“Shareholders’ Equity” means, as of any date of determination, consolidated shareholders’ equity of the Borrower and its Subsidiaries as of that date determined in accordance with GAAP.
		

		
			“Solvent” means, with respect to any Person, that the value of the assets of such Person (both at fair value and present fair saleable value) is, on the date of determination, greater than the total amount of liabilities (including contingent and unliquidated liabilities) of such 

		 

		

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Person as of such date and that, as of such date, such Person is able to pay all liabilities of such Person as such liabilities mature and does not have unreasonably small capital.  In computing the amount of contingent or unliquidated liabilities at any time, such liabilities will be computed at the amount which, in light of all the facts and circumstances existing at such time, represents the amount that can reasonably be expected to become an actual or matured liability.
		

		
			“Special Purpose Finance Subsidiary” means any Subsidiary of the Borrower created solely for the purposes of, and whose sole activity shall consist of, acquiring and financing accounts receivable of the Borrower and its Subsidiaries pursuant to a Permitted Securitization Facility.
		

		
			“Specified Transaction Agreement Representations” means such of the representations and warranties made by the Target and its Subsidiaries in the Target Acquisition Documents as are material to the interests of the Lenders, but only to the extent the Borrower (or any of its Subsidiaries or Affiliates) has, or would have, the right not to consummate the Offer or Scheme, as the case may be, or otherwise not to consummate the Target Acquisition, or the Borrower (or any of its Subsidiaries or Affiliates) has, or would have, the right to terminate its obligations to consummate the Offer or Scheme, as the case may be, or otherwise not consummate the Target Acquisition as a result of a breach of such representations and warranties in the Target Acquisition Documents.
		

		
			“Specified Representations” means those representations and warranties set forth in Sections 5.01 (solely as to the Borrower), 5.02,  5.03,  5.04,  5.14,  5.18,  5.20, 5.21(a) and 5.21(b).
		

		
			“Spot Rate” for a currency means the rate determined by the Administrative Agent to be the rate quoted by the Person acting in such capacity as the spot rate for the purchase by such Person of such currency with another currency through its principal foreign exchange trading office at approximately 9:00 a.m. on the date two Business Days prior to the date as of which the foreign exchange computation is made; provided that the Administrative Agent may obtain such spot rate from another financial institution designated by the Administrative Agent if the Person acting in such capacity does not have as of the date of determination a spot buying rate for any such currency.
		

		
			“Squeeze-Out Procedures” means any step or transaction arising as a result or part of the implementation or completion of the procedures contained in sections 979-982 of the Companies Act pursuant to which the Borrower may acquire any remaining Target Shares.
		

		
			“Sterling” and “£” mean the lawful currency of the United Kingdom.
		

		
			“Subsidiary” of a Person means a corporation, partnership, joint venture, limited liability company or other business entity (a) of which a majority of the shares of securities or other interests having ordinary voting power for the election of directors or other governing body (other than securities or interests having such power only by reason of the happening of a contingency) are at the time beneficially owned, or the management of which is otherwise controlled, directly, or indirectly through one or more intermediaries, or both, by such Person, or (b) the accounts of which are consolidated with those of the Borrower in its consolidated financial 

		 

		

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statements.  Unless otherwise specified, all references herein to a “Subsidiary” or to “Subsidiaries” shall refer to a Subsidiary or Subsidiaries of the Borrower.
		

		
			“Swap Contract” means any and all rate swap transactions, basis swaps, credit derivative transactions, forward rate transactions, commodity swaps, commodity options, forward commodity contracts, equity or equity index swaps or options, bond or bond price or bond index swaps or options or forward bond or forward bond price or forward bond index transactions, interest rate options, forward foreign exchange transactions, cap transactions, floor transactions, collar transactions, currency swap transactions, cross-currency rate swap transactions, currency options, spot contracts, or any other similar transactions or any combination of any of the foregoing (including any options to enter into any of the foregoing), whether or not any such transaction is governed by or subject to any master agreement.
		

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

		
			“Synthetic Lease Obligation” means the monetary obligation of a Person under (a) a so-called synthetic, off-balance sheet or tax retention lease, or (b) an agreement for the use or possession of property creating obligations that do not appear on the balance sheet of such Person but which, upon the insolvency or bankruptcy of such Person, would be characterized as the indebtedness of such Person (without regard to accounting treatment).
		

		
			“Target” has the meaning set forth in the recitals.
		

		
			“Target Acquisition” has the meaning set forth in the recitals.
		

		
			“Target Acquisition Closing Date” means the date on which the cash consideration for the Target Acquisition is paid by the trustee to the existing shareholders of the Target.
		

		
			“Target Acquisition Documents” means the Offer Documents or the Scheme Documents, as the case may be.
		

		
			“Target Debt Refinancing” means refinancing, repayment, redemption, defeasance or other discharge of the Existing Target Notes, the release and extinguishment of any liens and security interests securing such obligations and the release and extinguishment of any guarantees in respect of such obligations.
		

		
			“Target Shares” means any or all of the shares in the capital of the Target.
		

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

		
			

		 

		

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			“Tranche A Commitment” means, collectively, the Tranche A-1 Commitments and the Tranche A-2 Commitments.
		

		
			“Tranche A Lenders” means, collectively, the Tranche A-1 Lenders and the Tranche A-2 Lenders.
		

		
			“Tranche A Loans” means, collectively, the Tranche A-1 Loans and the Tranche A-2 Loans.
		

		
			“Tranche A-1 Commitment” means, as to each Tranche A-1 Lender, its obligation to make Tranche A-1 Loans to the Borrower pursuant to Section 2.01(a), in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Tranche A-1 Lender’s name on Schedule 2.01 or in the Assignment and Assumption pursuant to which such Tranche A-1 Lender becomes a party hereto, as applicable, as such amount may be reduced from time to time in accordance with this Agreement.  The aggregate amount of Tranche A-1 Commitments as of the Effective Date is £557,000,000.
		

		
			“Tranche A-1 Lender” means each Lender identified as such on Schedule 2.01 or pursuant to the Assignment and Assumption of a Tranche A-1 Commitment or a Tranche A-1 Loan pursuant to which such Lender becomes a party hereto.
		

		
			“Tranche A-1 Loan” has the meaning set forth in Section 2.01(a).
		

		
			“Tranche A-1 Maturity Date” means the date that is 364 calendar days after the Closing Date; provided,  however, that, if such date is not a Business Day, the Tranche A-1 Maturity Date shall be the immediately preceding Business Day.
		

		
			“Tranche A-2 Commitment” means, as to each Tranche A-2 Lender, its obligation to make Tranche A-2 Loans to the Borrower pursuant to Section 2.01(b), in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Tranche A-2 Lender’s name on Schedule 2.01 or in the Assignment and Assumption pursuant to which such Tranche A-2 Lender becomes a party hereto, as applicable, as such amount may be reduced from time to time in accordance with this Agreement.  The aggregate amount of Tranche A-2 Commitments as of the Effective Date is £150,000,000.
		

		
			“Tranche A-2 Lender” means each Lender identified as such on Schedule 2.01 or pursuant to the Assignment and Assumption of a Tranche A-2 Commitment or a Tranche A-2 Loan pursuant to which such Lender becomes a party hereto.
		

		
			“Tranche A-2 Loan” has the meaning set forth in Section 2.01(b).
		

		
			“Tranche A-2 Maturity Date” means the date that is 90 calendar days after the Closing Date; provided,  however, that, if such date is not a Business Day, the Tranche A-2 Maturity Date shall be the immediately preceding Business Day.
		

		
			“Tranche B Availability Period” means the period from but excluding the Target Acquisition Closing Date and ending on December 5, 2016.
		

		
			

		 

		

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			“Tranche B Closing Date” means the date after the Target Acquisition Closing Date and on or prior to the end of the Tranche B Availability Period on which all of the conditions precedent in Section 4.02(III) are satisfied or waived in accordance with Section 10.01 and the Tranche B Loans are made to the Borrower.    
		

		
			“Tranche B Commitment” means, as to each Tranche B Lender, its obligation to make Tranche B Loans to the Borrower pursuant to Section 2.01(c), in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Tranche B Lender’s name on Schedule 2.01 or in the Assignment and Assumption pursuant to which such Tranche B Lender becomes a party hereto, as applicable, as such amount may be reduced from time to time in accordance with this Agreement.  The aggregate amount of Tranche B Commitments as of the Effective Date is $250,000,000.
		

		
			“Tranche B Lender” means each Lender identified as such on Schedule 2.01 or pursuant to the Assignment and Assumption of a Tranche B Commitment or a Tranche B Loan pursuant to which such Lender becomes a party hereto.
		

		
			“Tranche B Loan” has the meaning set forth in Section 2.01(c).
		

		
			“Tranche B Maturity Date” means the date that is 364 calendar days after the Target Acquisition Closing Date;  provided,  however, that if such date is not a Business Day, the Tranche B Maturity Date shall be the immediately preceding Business Day.
		

		
			“Transaction Costs”  means fees (including the fees payable under the Loan Documents and the Fee Letter) and expenses (including taxes thereon) and all stamp, documentary, registration or similar taxes and duties, in any such case payable by or incurred by or on behalf of the Borrower or any of its Affiliates in connection with the Transactions and the Target Acquisition and the other transactions contemplated by this Agreement and the 2.7 Announcement, including, without limitation, the preparation of, negotiation of and entry into this Agreement, the other Loan Documents, the Fee Letter,  the 2.7 Announcement and the Target Acquisition Documents.
		

		
			“Transactions” means, collectively, (i) the Financing Transactions, (ii) the Target Acquisition and the consummation of the other transactions contemplated by the 2.7 Announcement, the Target Acquisition Documents, the Loan Documents, the Fee Letter and any other agreements related to the foregoing, (iii) the refinancing of any Indebtedness of the Target, (iv) the consummation of any other transactions contemplated by any of the foregoing and (v) the payment of any Transaction Costs in connection with the foregoing.
		

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

		
			“Unencumbered Cash and Cash Equivalents” means cash or cash equivalents owned by Borrower and its Subsidiaries on a consolidated basis (excluding assets of any retirement plan) which (a) are not the subject of any Lien, and (b) may be converted to cash within thirty (30) days.
		

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

		
			

		 

		

			NYDOCS03/1048584.731

		

 

		

			 

		

		

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

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

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

			
	
			
				 3.01
			Other Interpretive Provisions.   With reference to this Agreement and each other Loan Document, unless otherwise specified herein or in such other Loan Document:

		
			 
		

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

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

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

			
	
			
				 3.02
			Accounting Terms.

		
			 
		

			
	
			
				 (a)
			Generally.  All accounting terms not specifically or completely defined herein shall be construed in conformity with, and all financial data (including financial ratios and other 

		 

		

			NYDOCS03/1048584.732

		

 

		

			 

		

	financial calculations) required to be submitted pursuant to this Agreement shall be prepared in conformity with, GAAP applied on a consistent basis, as in effect from time to time, applied in a manner consistent with that used in preparing the Audited Financial Statements, except as otherwise specifically prescribed herein.

			
	
			
				 (b)
			Changes in GAAP.    If at any time any change in GAAP would affect the computation of any financial ratio or requirement set forth in any Loan Document, and either the Borrower or the Required Lenders shall so request, the Administrative Agent, the Lenders and the Borrower shall negotiate in good faith to amend such ratio or requirement to preserve the original intent thereof in light of such change in GAAP (subject to the approval of the Required Lenders); provided that, until so amended, (i) such ratio or requirement shall continue to be computed in accordance with GAAP prior to such change therein and (ii) the Borrower shall provide to the Administrative Agent and the Lenders financial statements and other documents required under this Agreement or as reasonably requested hereunder setting forth a reconciliation between calculations of such ratio or requirement made before and after giving effect to such change in GAAP.  Without limiting the foregoing, leases shall continue to be classified and accounted for on a basis consistent with that reflected in the Audited Financial Statements for all purposes of this Agreement, notwithstanding any change in GAAP relating thereto, unless the parties hereto shall enter into a mutually acceptable amendment addressing such changes, as provided for above.

			
	
			
				 (c)
			Consolidation of Variable Interest Entities.  All references herein to consolidated financial statements of the Borrower and its Subsidiaries or to the determination of any amount for the Borrower and its Subsidiaries on a consolidated basis or any similar reference shall, in each case, be deemed to include each variable interest entity that the Borrower is required to consolidate pursuant to FASB ASC 810 as if such variable interest entity were a Subsidiary as defined herein.

			
	
			
				 (d)
			Pro Forma Basis.  For purposes of computing the Consolidated Leverage Ratio and the Consolidated Interest Coverage Ratio, such ratios (and any financial calculations or components required to be made or included therein) shall be determined, with respect to the relevant period, after giving pro forma effect to each Acquisition consummated during such period (including any incurrence, assumption, refinancing or repayment of Indebtedness), as if such Acquisition had been consummated on the first day of such period, based on historical results accounted for in accordance with GAAP.

			
	
			
				 3.03
			Exchange Rates; Currency Equivalents.   The Administrative Agent shall determine the Spot Rates as of each Revaluation Date to be used for calculating Dollar Equivalent amounts of Borrowings and Outstanding Amounts denominated in Sterling.  Such Spot Rates shall become effective as of such Revaluation Date and shall be the Spot Rates employed in converting any amounts between the applicable currencies until the next Revaluation Date to occur.  Except for purposes of financial statements delivered by the Borrower hereunder or calculating financial covenants hereunder or except as otherwise provided herein, the applicable amount of any currency (other than Dollars) for purposes of the Loan Documents shall be such Dollar Equivalent amount as so determined by the Administrative Agent.

		
			 
		

			
	
			
				 (a)
			The Administrative Agent does not warrant, nor accepts responsibility, nor shall the Administrative Agent have any liability with respect to the administration, submission or any action or determination related to the rate in the definition of “Eurocurrency Rate” or with respect 

		 

		

			NYDOCS03/1048584.733

		

 

		

			 

		

	to any comparable or successor rate thereto in the absence of the Administrative Agent’s own gross negligence or willful misconduct as determined by a court of competent jurisdiction by final and nonappealable judgment.

			
	
			
				 3.04
			Change of Currency.  Each provision of this Agreement shall be subject to such reasonable changes of construction as the Administrative Agent may from time to time specify to be appropriate to reflect a change in currency of any country and any relevant market conventions or practices relating to the change in currency.

		
			 
		

			
	
			
				 3.05
			Times of Day.  Unless otherwise specified, all references herein to times of day shall be references to Pacific time (daylight or standard, as applicable).

		
			 
		

			
	
			
				 3.06
			Rounding.  Any financial ratios required to be maintained by the Borrower and its Subsidiaries pursuant to this Agreement shall be calculated by dividing the appropriate component by the other component, carrying the result to one place more than the number of places by which such ratio is expressed herein and rounding the result up or down to the nearest number (with a rounding up if there is no nearest number).

		
			 
		

			
	
			
				Article II.
			
THE COMMITMENTS AND BORROWINGS

			
	
			
				 2.01
			Loans.   (a) Subject to the terms and conditions set forth herein, each Tranche A-1 Lender severally agrees to make loans (each such loan, a “Tranche A-1 Loan”) to the Borrower during the Certain Funds Period in Sterling in a single drawing on the Closing Date in an aggregate amount not to exceed the amount of such Tranche A-1 Lender’s Tranche A-1 Commitment.  Tranche A-1 Loans may not be reborrowed once repaid or prepaid.  

		
			 
		

		
			(b) Subject to the terms and conditions set forth herein, each Tranche A-2 Lender severally agrees to make loans (each such loan, a “Tranche A-2 Loan”) to the Borrower during the Certain Funds Period in Sterling in a single drawing on the Closing Date in an aggregate amount not to exceed the amount of such Tranche A-2 Lender’s Tranche A-2 Commitment.  Tranche A-2 Loans may not be reborrowed once repaid or prepaid.  
		

		
			(c) Subject to the terms and conditions set forth herein, each Tranche B Lender severally agrees to make loans (each such loan, a “Tranche B Loan”) to the Borrower either (x) during the Certain Funds Period in Dollars in a single drawing on the Closing Date or (y) during the Tranche B Availability Period in Dollars in a single drawing on the Tranche B Closing Date, in the case of each of clause (x) and (y), in an aggregate amount not to exceed the amount of such Tranche B Lender’s Tranche B Commitment.  Tranche B Loans may not be reborrowed once repaid or prepaid.  
		

			
	
			
				 2.02
			Borrowings, Conversions and Continuations of Loans.

		
			 
		

			
	
			
				 (a)
			Each Borrowing, each conversion of Tranche B Loans from one Type to the other, and each continuation of Loans shall be made upon the Borrower’s irrevocable notice to the Administrative Agent, which may be given by (A) telephone or (B) a Loan Notice; provided that any telephonic notice must be confirmed no later than two hours thereafter by delivery to the Administrative Agent of a Loan Notice.  Each such Loan Notice must be received by the 

		 

		

			NYDOCS03/1048584.734

		

 

		

			 

		

	Administrative Agent not later than 8:00 a.m. with respect to the Borrowing of (i) Tranche A Loans and Eurocurrency Rate Tranche B Loans on the Closing Date or the Tranche B Closing Date, as applicable, three Business Days prior to the Closing Date or the Tranche B Closing Date, as applicable and (ii) of Base Rate Tranche B Loans, on the Closing Date or the Tranche B Closing Date, as applicable. Each such Loan Notice must be received by the Administrative Agent not later than 8:00 a.m. three Business Days prior to the requested date of conversion of any Tranche B Loans from one Type to the other or of any continuation of any Tranche A Loan or any Eurocurrency Rate Tranche B Loan.  Each conversion of Tranche B Loans from one Type to the other and each continuation of Tranche A Loans and Eurocurrency Rate Tranche B Loans shall be in a principal amount of £5,000,000 or $5,000,000, as applicable, or a whole multiple of £1,000,000 or $1,000,000, as applicable, in excess thereof.  Each Loan Notice shall specify (i) whether the Borrower is requesting a Borrowing, a conversion of Tranche B Loans from one Type to the other or a continuation of Tranche A Loans or Eurocurrency Rate Tranche B Loans, (ii) the requested date of the Borrowing (which shall be the Closing Date or the Tranche B Closing Date, as applicable), conversion or continuation, as the case may be (which in each case shall be a Business Day), (iii) the principal amount of Loans to be borrowed, converted or continued, (iv) the Type of Tranche B Loans to be Borrowed or to which existing Tranche B Loans are to be converted, (v) if applicable, the duration of the Interest Period with respect thereto and (vi) the currency (i.e., whether Sterling or Dollars, as the case may be) of the Loans to be borrowed.  If the Borrower fails to specify a Type of Tranche B Loan in a Loan Notice or if the Borrower fails to give a timely notice requesting a conversion of Tranche B Loans, then the applicable Tranche B Loans shall be made as, or converted to, Base Rate Tranche B Loans.  If the Borrower fails to give a timely notice requesting a continuation of a Tranche A Loan or a Eurocurrency Rate Tranche B Loan, then the applicable Loans shall be continued as Loans with an Interest Period of one month.  Any automatic conversion to Base Rate Tranche B Loans shall be effective as of the last day of the Interest Period then in effect with respect to the applicable Eurocurrency Rate Tranche B Loans.  If the Borrower requests a Borrowing, conversion of Tranche B Loans from one Type to the other or continuation of Tranche A Loans or Eurocurrency Rate Tranche B Loans, but fails to specify an Interest Period in any Loan Notice, it will be deemed to have specified an Interest Period of one month.  

			
	
			
				 (b)
			Following receipt of a Loan Notice, the Administrative Agent shall promptly notify each Lender of the amount (and currency) of its Applicable Percentage of the applicable Loans, and if no timely notice of a conversion or continuation is provided by the Borrower, the Administrative Agent shall notify each Lender of the details of any automatic conversion to Base Rate Tranche B Loans or continuation of Tranche A Loans or Eurocurrency Rate Tranche B Loans, in each case as described in the preceding subsection.  In the case of a Borrowing, each Lender shall make the amount of its Loan available to the Administrative Agent in Same Day Funds  not later than 10:00 a.m. on the Closing Date or the Tranche B Closing Date, as applicable.   Upon satisfaction of the conditions set forth in Section 4.02(I) (in the case of Tranche A Loans), Section 4.02(I) and (II) (in the case of Tranche B Loans to be made on the Closing Date, if any) or Section 4.02(III) (in the case of Tranche B Loans to be made on the Tranche B Closing Date, if any), the Administrative Agent shall make all funds so received available to the Borrower in like funds as received by the Administrative Agent either by (i) crediting the account of the Borrower on the books of Bank of America with the amount of such funds or (ii) wire transfer of such funds, in each case in accordance with instructions provided to (and reasonably acceptable to) the Administrative Agent by the Borrower.

		
			

		 

		

			NYDOCS03/1048584.735

		

 

		

			 

		

		

			
	
			
				 (c)
			Except as otherwise provided herein, a Tranche A Loan or a Eurocurrency Rate Tranche B Loan may be continued or converted (in the case of Eurocurrency Rate Tranche B Loans) only on the last day of an Interest Period for such Loan.  During the existence of a Default or an Event of Default, no Tranche B Loans may be converted to or continued as Eurocurrency Rate Tranche B Loans and no Tranche A Loans may be continued, in each case without the consent of the Required Lenders, and the Required Lenders may demand that any or all of the then outstanding Tranche A Loans be prepaid, or redenominated into Dollars in the amount of the Dollar Equivalent thereof, on the last day of the then current Interest Period with respect thereto.    

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

			
	
			
				 (e)
			After giving effect to all Borrowings, all conversions of Tranche B Loans from one Type to the other, and all continuations of Tranche A Loans and Eurocurrency Rate Tranche B Loans, there shall not be more than three Interest Periods in effect with respect to Loans.

			
	
			
				 2.03
			Prepayments.      The Borrower may, upon notice to the Administrative Agent, at any time or from time to time voluntarily prepay Loans (whether Tranche A-1 Loans, Tranche A-2 Loans or Tranche B Loans)  in whole or in part without premium or penalty; provided that (i) such notice must be received by the Administrative Agent not later than 8:00 a.m. (A) three Business Days prior to any date of prepayment of Tranche A Loans and Eurocurrency Rate Tranche B Loans and (B) on the date of prepayment of Base Rate Tranche B Loans and (ii) any prepayment shall be in a principal amount of £5,000,000 or $5,000,000, as applicable, or a whole multiple of £1,000,000 or $1,000,000, as applicable, in excess thereof or, if less, the entire principal amount thereof then outstanding.  Each such notice shall specify the date and amount of such prepayment, the tranche(s) to be prepaid (i.e., whether Tranche A-1 Loans, Tranche A-2 Loans and/or Tranche B Loans) and, if applicable, the Type(s) of Tranche B Loans to be prepaid and, if Tranche A Loans or Eurocurrency Rate Tranche B Loans are to be prepaid, the Interest Period(s) of such Loans.  The Administrative Agent will promptly notify each Lender of its receipt of each such notice, and of the amount of such Lender’s Applicable Percentage (or other applicable share as provided herein) of such prepayment.  The payment amount specified in such notice shall be due and payable on the date specified therein.  Any prepayment of a Tranche A Loan or a Eurocurrency Rate Tranche B Loan shall be accompanied by all accrued interest on the amount prepaid, together with any additional amounts required pursuant to Section 3.05.  Subject to Section 2.12,  each such prepayment shall be applied to the Loans of the Lenders in accordance with their respective Applicable Percentages.

		
			 
		

			
	
			
				 (b)
			Upon receipt by the Borrower or any of its Subsidiaries, after the earlier of the Closing Date or the Tranche B Closing Date, of Net Cash Proceeds arising from any Debt Issuance, Equity Issuance, Asset Sale or Recovery Event, the Borrower shall promptly (and in any event within two Business Days) notify the Administrative Agent thereof in writing and within five Business Days of such receipt, prepay the Loans (including any accrued interest) in an amount equal to 100% of such Net Cash Proceeds.  All prepayments pursuant to this clause (b) with Net 

		 

		

			NYDOCS03/1048584.736

		

 

		

			 

		

	Cash Proceeds from Asset Sales, Debt Issuances, Equity Issuances and Recovery Events shall be applied (x) if such Net Cash Proceeds are denominated in currencies other than Dollars (it being understood that the Administrative Agent shall convert such Net Cash Proceeds into Sterling or Dollars, as applicable, at the Spot Rate in effect on each date of receipt of such Net Cash Proceeds by the Borrower or any of its Subsidiaries), first, to the Tranche A-1 Loans of the Lenders in accordance with their respective Applicable Percentages until Tranche A-1 Loans have been paid in full, second, to the Tranche A-2 Loans of the Lenders in accordance with their respective Applicable Percentages until the Tranche A-2 Loans have been paid in full and third, to the Tranche B Loans, if any, of the Lenders in accordance with their respective Applicable Percentages and (y) if such Net Cash Proceeds are denominated in Dollars, first, to the Tranche B Loans, if any, of the Lenders in accordance with their respective Applicable Percentages until the Tranche B Loans have been paid in full, second, to the Tranche A-1 Loans of the Lenders in accordance with their respective Applicable Percentages until the Tranche A-1 have been paid in full and third, to the Tranche A-2 Loans of the Lenders in accordance with their respective Applicable Percentages; provided that in the case of immediately preceding clause (y), after the Tranche B Loans have been paid in full, the Administrative Agent shall convert any remaining Net Cash Proceeds into Sterling at the Spot Rate in effect on the date of receipt of such Net Cash Proceeds by the Borrower or any of its Subsidiaries; provided,  further that in the case of each of immediately preceding clauses (x) and (y), the Borrower or any of its Subsidiaries may reinvest all or any portion of such Net Cash Proceeds from a Recovery Event in assets useful to the business of the Borrower or any Subsidiary; provided,  in addition, that such reinvestment is consummated within 12 months of the date of receipt of such Net Cash Proceeds, or in the event such reinvestment is committed to in writing by the Borrower or such Subsidiary within such 12-month period, such Net Cash Proceeds are used to consummate the reinvestment within 18 months of receipt thereof.  

			
	
			
				 2.04
			Termination or Reduction of Commitments.  (a) The Borrower may, upon notice to the Administrative Agent, terminate the Aggregate Commitments, terminate the Tranche A-1 Commitments, the Tranche A-2 Commitments and/or the Tranche B Commitments, or from time to time permanently reduce the Aggregate Commitments and/or permanently reduce the Tranche A-1 Commitments, the Tranche A-2 Commitments and/or the Tranche B Commitments;  provided that (i) any such notice shall be received by the Administrative Agent not later than 8:00 a.m. five Business Days prior to the date of termination or reduction and (ii) any such partial reduction shall be in an aggregate amount of £5,000,000 or $5,000,000, as applicable, or any whole multiple of £1,000,000 or $1,000,000, as applicable, in excess thereof.  The Administrative Agent will promptly notify the Lenders of any such notice of termination or reduction of the Aggregate Commitments and/or the Tranche A-1 Commitments, the Tranche A-2 Commitments and/or the Tranche B Commitments, as the case may be.  Any reduction of the Aggregate Commitments (and/or the Tranche A-1 Commitments, the Tranche A-2 Commitments and/or the Tranche B Commitments, as the case may be) shall be applied to the Commitment of each Lender according to its Applicable Percentage of the Aggregate Commitments (and/or the Tranche A-1 Commitments, the Tranche A-2 Commitments and/or the Tranche B Commitments, as the case may be).  All fees accrued until the effective date of any termination of the Aggregate Commitments (and/or the Tranche A-1 Commitments, the Tranche A-2 Commitments and/or the Tranche B Commitments, as the case may be) shall be paid on the effective date of such termination.

		
			 
		

		
			

		 

		

			NYDOCS03/1048584.737

		

 

		

			 

		

		

		
			(b) Unless previously terminated, the Tranche A-1 Commitment and the Tranche A-2 Commitment of each Lender shall automatically terminate in full at 5:00 p.m. (New York City time) on the earlier of (i) the termination of the Certain Funds Period and (ii) the Closing Date (after giving effect to the Borrowings on such date).  Unless previously terminated, the Tranche B Commitment of each Lender shall automatically terminate in full at 5:00 p.m. (New York City time) on the earliest of (i) the end of the Tranche B Availability Period, (ii) the Closing Date (after giving effect to the Borrowings on such date, if the Tranche B Loans are made to the Borrower on such date) and (iii) the Tranche B Closing Date (after giving effect to the Borrowings on such date, if the Tranche B Loans are made to the Borrower on such date).
		

		
			(c) Upon receipt by the Borrower or any of its Subsidiaries, on or after the Effective Date but prior to the Closing Date (or, in the case of the Tranche B Commitments, the Tranche B Closing Date, if applicable), of Net Cash Proceeds arising from any Asset Sale, Debt Issuance or any Equity Issuance, the Aggregate Commitments shall be reduced no later than the Business Day following the receipt of such Net Cash Proceeds in an amount equal to 100% of such Net Cash Proceeds.  Any reduction of the Aggregate Commitments pursuant to this clause (c) shall be applied (i) if such Net Cash Proceeds are denominated in currencies other than Dollars (it being understood that the Administrative Agent shall convert such Net Cash Proceeds into Sterling or Dollars, as applicable, at the Spot Rate in effect on the date of receipt of such Net Cash Proceeds by the Borrower or any of its Subsidiaries) first, to the Tranche A-1 Commitments of the Lenders in accordance with their respective Applicable Percentages until Tranche A-1 Commitments have been reduced to zero, second, to the Tranche A-2 Commitments of the Lenders in accordance with their respective Applicable Percentages until the Tranche A-2 Commitments have been reduced to zero and third, to the Tranche B Commitments of the Lenders in accordance with their respective Applicable Percentages and (y) if such Net Cash Proceeds are denominated in Dollars, first, to the Tranche B Commitments of the Lenders in accordance with their respective Applicable Percentages until the Tranche B Commitments have been reduced to zero, second, to the Tranche A-1 Commitments of the Lenders in accordance with their respective Applicable Percentages until the Tranche A-1 Commitments have been reduced to zero and third, to the Tranche A-2 Commitments of the Lenders in accordance with their respective Applicable Percentages; provided that in the case of immediately preceding clause (y), after the Tranche B Commitments have been reduced to zero, the Administrative Agent shall  convert such excess Net Cash Proceeds into Sterling at the Spot Rate in effect on the date of receipt of such Net Cash Proceeds by the Borrower or any of its Subsidiaries. At the Borrower’s option, so long as the Tranche A-1 Commitments and the Tranche B Commitments have been reduced to zero, the Borrower may retain the Net Cash Proceeds of any Debt Issuance arising from issuance of senior unsecured notes to the extent used promptly (and, in all events, within 5 Business Days) to refinance (on a dollar-for-dollar basis) the Borrower’s existing 6.63% Notes due 2016.
		

		
			(d) The Borrower shall promptly notify the Administrative Agent of receipt of such Net Cash Proceeds, and the Administrative Agent will promptly notify each Lender of its receipt of each such notice. 
		

		
			(e) In the event and on each occasion that the Borrower or any of its Subsidiaries enters into any term loan facility, the Commitments shall be automatically and permanently reduced ratably in an amount equal to 100% of the committed amount under such term loan facility (or, if less, by an amount equal to the aggregate amount of the Commitments then in effect), such 

		 

		

			NYDOCS03/1048584.738

		

 

		

			 

		

reduction to be effective upon the effectiveness of the definitive documentation for such term loan facility and receipt by (x) the Administrative Agent of a notice from the Borrower that such term loan facility constitutes a Qualifying Term Loan Facility and (y) the Administrative Agent and the Cash Confirmation Advisor of evidence, in form and substance reasonably satisfactory to the Administrative Agent and the Cash Confirmation Advisor that the Borrower will have sufficient resources available to it following such reduction of the Commitments to complete the Target Acquisition (which may include, but is not limited to, the written consent of the Cash Confirmation Advisor prior to the date of such reduction). Such reduction shall be applied to the Tranche A-1 Commitments, and, if no Tranche A-1 Commitments are outstanding at such time, the Tranche B Commitments and, if no Tranche A-1 Commitments and no Tranche B Commitments are outstanding at such time, Tranche A-2 Commitments, in each case in accordance with the Lenders’ respective Applicable Percentages.  
		

			
	
			
				 2.05
			Repayment of Loans.    The Borrower shall repay to the Tranche A-1 Lenders on the Tranche A-1 Maturity Date the aggregate principal amount of Tranche A-1 Loans outstanding on such date.

		
			 
		

			
	
			
				 (a)
			The Borrower shall repay to the Tranche A-2 Lenders on the Tranche A-2 Maturity Date the aggregate principal amount of Tranche A-2 Loans outstanding on such date.

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

			
	
			
				 2.06
			Interest.     Subject to the provisions of subsection (b) below,  each Tranche A Loan and each Eurocurrency Rate Tranche B Loan shall bear interest on the outstanding principal amount thereof for each Interest Period at a rate per annum equal to the Eurocurrency Rate for such Interest Period plus the Applicable Rate and  each Base Rate Tranche B Loan shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal to the Base Rate plus the Applicable Rate with respect to Base Rate Tranche B Loans.

		
			 
		

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

			
	
			
				 (i)
			If any amount (other than principal of any Loan) payable by the Borrower under any Loan Document is not paid when due (without regard to any applicable grace periods), whether at stated maturity, by acceleration or otherwise, then upon the request of the Required Lenders, such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws  (provided, that upon the occurrence of an actual or deemed entry of an order for relief with respect to the Borrower under the Bankruptcy Code of the United States, such amount(s) shall automatically bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws, without further act of the Administrative Agent or any Lender).

		
			

		 

		

			NYDOCS03/1048584.739

		

 

		

			 

		

		

			
	
			
				 (ii)
			Upon the request of the Required Lenders, while any Event of Default exists (other than as set forth in clauses (b)(i) and (b)(ii) above), the Borrower shall pay interest on the principal amount of all outstanding Obligations hereunder at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws  (provided, that upon the occurrence of an actual or deemed entry of an order for relief with respect to the Borrower under the Bankruptcy Code of the United States, such principal amount of all outstanding Obligations shall automatically bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws, without further act of the Administrative Agent or any Lender).

			
	
			
				 (iii)
			Accrued and unpaid interest on past due amounts (including interest on past due interest) shall be due and payable upon demand.

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

			
	
			
				 2.07
			Fees.   

		
			 
		

			
	
			
				 (a)
			Duration Fee.  The Borrower shall pay to the Administrative Agent for the account of each Lender holding Tranche A-1 Loans and Tranche B Loans, a duration fee in Sterling (in the case of Tranche A-1 Loans) and Dollars (in the case of Tranche B Loans) on each date set forth below in an amount equal to the applicable percentage set forth opposite such date of the principal amount of the Tranche A-1 Loans and Tranche B Loans owed to such Lender and outstanding on such date (such duration fee to be earned and payable in full on such applicable date):

			
					
						Date

					
					
						 

					
					
						Percentage

				
	
					
						 

					
						 

					
						 

					
						90 days after the Target Acquisition Closing Date

					
					
						 

					
						 

					
					
						2 Investment Grade Ratings

					
						 

					
					
						Crossover Rating

					
						 

					
					
						2 Non-Investment Grade Ratings

					
						 

				
	
					
						0.50%

					
					
						0.50%

					
					
						0.50%

				
	
					
						180 days after the Target Acquisition Closing Date

					
					
						 

					
					
						0.75%

					
					
						0.75%

					
					
						1.00%

				
	
					
						270 days after the Target Acquisition Closing Date

					
					
						 

					
					
						1.00%

					
					
						1.25%

					
					
						1.50%

				

		
			 
		

			
	
			
				 (b)
			Ticking Interest.    The Borrower shall pay to the Administrative Agent for the account of each Lender ticking interest (the “Ticking Interest”) at a rate per annum equal to 0.20% (provided that such rate shall be 0.30% at any time there are two Non-Investment Grade Ratings).  The Ticking Interest shall accrue on the Tranche A-1 Commitments and the Tranche A-2 Commitments beginning on August 27, 2016 until the earlier of (x) the Closing Date and (y) the termination of the Commitments.  Accrued Ticking Interest on the Tranche A-1 Commitments and the Tranche A-2 Commitments shall be due and payable on the earlier of (x) the Closing Date and 

		 

		

			NYDOCS03/1048584.740

		

 

		

			 

		

	(y) the termination of the Tranche A-1 and Tranche A-2 Commitments.  The Ticking Interest shall accrue on the Tranche B Commitments beginning on August 27, 2016 until the earliest of (x) the Closing Date if the Tranche B Loans are made to the Borrower on such date, (y) the Tranche B Closing Date if the Tranche B Loans are made to the Borrower on such date and (z) the termination of the Tranche B Commitments.  Accrued Ticking Interest on the Tranche B Commitments shall be due and payable on the earliest of (x) the Closing Date if the Tranche B Loans are made to the Borrower on such date, (y) the Tranche B Closing Date if the Tranche B Loans are made to the Borrower on such date and (z) the termination of the Tranche B Commitments.

			
	
			
				 (c)
			Other Fees.  The Borrower shall pay to the Arranger and the Administrative Agent for their own respective accounts or for the account of the Lenders, as applicable, fees in the amounts and currencies and at the times specified in the Fee Letter.  Such fees shall be fully earned when paid and shall not be refundable for any reason whatsoever.

			
	
			
				 2.08
			Computation of Interest and Fees.  All computations of interest for Base Rate Tranche B Loan (including Base Rate Tranche B Loans determined by reference to the Eurocurrency Rate) and Tranche A Loans shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed.  All other computations of fees and interest shall be made on the basis of a 360-day year and actual days elapsed (which results in more fees or interest, as applicable, being paid than if computed on the basis of a 365-day year).  Interest shall accrue on each Loan for the day on which the Loan is made, and shall not accrue on a Loan, or any portion thereof, for the day on which the Loan or such portion is paid, provided that any Loan that is repaid on the same day on which it is made shall, subject to Section 2.10(a), bear interest for one day.  Each determination by the Administrative Agent of an interest rate or fee hereunder shall be conclusive and binding for all purposes, absent manifest error.  

		
			 
		

			
	
			
				 2.09
			Evidence of Debt.  The Loans made by each Lender shall be evidenced by one or more accounts or records maintained by such Lender and by the Administrative Agent in the ordinary course of business.  The accounts or records maintained by the Administrative Agent and each Lender shall be conclusive absent manifest error of the amount of the Loans made by the Lenders to the Borrower and the interest and payments thereon.  Any failure to so record or any error in doing so shall not, however, limit or otherwise affect the obligation of the Borrower hereunder to pay any amount owing with respect to the Obligations.  In the event of any conflict between the accounts and records maintained by any Lender and the accounts and records of the Administrative Agent in respect of such matters, the accounts and records of the Administrative Agent shall control in the absence of manifest error.  Upon the request of any Lender to the Borrower made through the Administrative Agent, the Borrower shall execute and deliver to such Lender (through the Administrative Agent) a Note, which shall evidence such Lender’s Loans to the Borrower in addition to such accounts or records.  Each Lender may attach schedules to a Note and endorse thereon the date, Type (if applicable), amount, currency and maturity of its Loans and payments with respect thereto.

		
			 
		

			
	
			
				 2.10
			Payments Generally; Administrative Agent’s Clawback.       General.   All payments to be made by the Borrower shall be made free and clear of and without condition or deduction for any counterclaim, defense, recoupment or setoff.  Except as otherwise expressly provided herein, all payments by the Borrower hereunder shall be made to the Administrative Agent, for the account of the respective Lenders to which such payment is owed, at the 

		 

		

			NYDOCS03/1048584.741

		

 

		

			 

		

	Administrative Agent’s Office in Dollars or Sterling, as applicable, and in Same Day Funds not later than 11:00 a.m. on the date specified herein.  Without limiting the generality of the foregoing, the Administrative Agent may require that any payments due under this Agreement be made in the United States.  If, for any reason, the Borrower is prohibited by any Law from making any required payment hereunder in Sterling, the Borrower shall make such payment in Dollars in the Dollar Equivalent of the Sterling payment amount.  The Administrative Agent will promptly distribute to each Lender its Applicable Percentage (or other applicable share as provided herein) of such payment in like funds as received by wire transfer to such Lender’s Lending Office.  All payments received by the Administrative Agent after 11:00 a.m. shall be deemed received on the next succeeding Business Day and any applicable interest or fee shall continue to accrue.  If any payment to be made by the Borrower shall come due on a day other than a Business Day, payment shall be made on the next following Business Day, and such extension of time shall be reflected in computing interest or fees, as the case may be.

		
			 
		

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

			
	
			
				 (i)
			Payments by the Borrower; Presumptions by Administrative Agent.  Unless the Administrative Agent shall have received notice from the Borrower prior to the date on which any payment is due to the Administrative Agent for the account of the Lenders hereunder that the Borrower will not make such payment, the Administrative Agent may assume that the Borrower has made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Lenders the amount due.  In such event, if the Borrower has not in fact made such payment, then each of the Lenders severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such Lender, in Same Day Funds with interest thereon, for each day from and 

		 

		

			NYDOCS03/1048584.742

		

 

		

			 

		

	including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the Overnight Rate.

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

			
	
			
				 (b)
			Failure to Satisfy Conditions Precedent.  If any Lender makes available to the Administrative Agent funds for any Loan to be made by such Lender to the Borrower as provided in the foregoing provisions of this Article II, and such funds are not made available to the Borrower by the Administrative Agent because the applicable conditions to a Borrowing set forth in Section 4.02 are not satisfied or waived in accordance with the terms hereof, the Administrative Agent shall promptly return such funds (in like funds as received from such Lender) to such Lender, without interest.

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

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

			
	
			
				 2.11
			Sharing of Payments by Lenders.  If any Lender shall, by exercising any right of setoff or counterclaim or otherwise, obtain payment in respect of any principal of or interest on any of the Loans made by it resulting in such Lender’s receiving payment of a proportion of the aggregate amount of such Loans and accrued interest thereon greater than its pro rata share thereof as provided herein, then the Lender receiving such greater proportion shall (a) notify the Administrative Agent of such fact, and (b) purchase (for cash at face value) participations in the Loans of the other Lenders, or make such other adjustments as shall be equitable, so that the benefit of all such payments shall be shared by the Lenders ratably in accordance with the aggregate amount of principal of and accrued interest on their respective Loans and other amounts owing them, 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 Section shall not be construed to apply to (x) any payment made by the Borrower pursuant to and in accordance with the express terms of this Agreement (including the application of funds arising from the existence of a Defaulting Lender) or (y) 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 an assignment to the Borrower or any Subsidiary thereof (as to which the provisions of this Section shall apply).

		
			

		 

		

			NYDOCS03/1048584.743

		

 

		

			 

		

		

		
			The 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 the Borrower rights of setoff and counterclaim with respect to such participation as fully as if such Lender were a direct creditor of the Borrower in the amount of such participation.
		

			
	
			
				 2.12
			Defaulting Lenders.

		
			 
		

			
	
			
				 (a)
			Adjustments.  Notwithstanding anything to the contrary contained in this Agreement, if any Lender becomes a Defaulting Lender, then, until such time as that Lender is no longer a Defaulting Lender or is replaced pursuant to Section 10.13, to the extent permitted by applicable Law:

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

			
	
			
				 (ii)
			Reallocation of Payments.  Any payment of principal, interest, fees or other amounts received by the Administrative Agent for the account of that Defaulting Lender (whether voluntary or mandatory, at maturity, pursuant to Article VIII or otherwise, and including any amounts made available to the Administrative Agent by that Defaulting Lender pursuant to Section 10.08), shall be applied at such time or times as may be determined by the Administrative Agent as follows:  first, to the payment of any amounts owing by that Defaulting Lender to the Administrative Agent hereunder; second, as the Borrower may request (so long as no Default or Event of Default exists), to the funding of any Loan in respect of which that Defaulting Lender has failed to fund its portion thereof as required by this Agreement, as determined by the Administrative Agent; third, if so determined by the Administrative Agent and the Borrower, to be held in a non-interest bearing deposit account and released in order to satisfy obligations of that Defaulting Lender to fund Loans under this Agreement; fourth, to the payment of any amounts owing to the Lenders as a result of any judgment of a court of competent jurisdiction obtained by any Lender against that Defaulting Lender as a result of that Defaulting Lender’s breach of its obligations under this Agreement; fifth, so long as no Default or Event of Default exists, to the payment of any amounts owing to the Borrower as a result of any judgment of a court of competent jurisdiction obtained by the Borrower against that Defaulting Lender as a result of that Defaulting Lender’s breach of its obligations under this Agreement; and sixth, to that Defaulting Lender or as otherwise directed by a court of competent jurisdiction; provided that if (x) such payment is a payment of the principal amount of any Loans in respect of which that Defaulting Lender has not fully funded its appropriate share and (y) such Loans were made at a time when the applicable conditions precedent set forth in Section 4.02 were satisfied or waived, such payment shall be applied solely to pay the Loans of all non-Defaulting Lenders on a pro rata basis prior to being applied to the payment of any Loans owed to, that Defaulting Lender.  Any payments, prepayments or other amounts paid or payable to a Defaulting Lender that are applied (or held) to pay amounts owed by a Defaulting Lender pursuant to this Section 2.12(a)(ii) shall be deemed paid to and redirected by that Defaulting Lender, and each Lender irrevocably consents hereto.

		
			

		 

		

			NYDOCS03/1048584.744

		

 

		

			 

		

		

			
	
			
				 (iii)
			Certain Fees.  If any Lender becomes a Defaulting Lender, then for so long as such Lender is a Defaulting Lender, the Ticking Interest shall cease to accrue on the Commitment of such Defaulting Lender pursuant to Section 2.07(b).

			
	
			
				 (b)
			Defaulting Lender Cure.  If the Borrower and the Administrative Agent agree in writing in their sole discretion that a Defaulting Lender should no longer be deemed to be a Defaulting Lender, the Administrative Agent will so notify the parties hereto, whereupon as of the effective date specified in such notice and subject to any conditions set forth therein, that Lender will, to the extent applicable, purchase that portion of outstanding Loans of the other Lenders or take such other actions as the Administrative Agent may determine to be necessary to cause the Loans to be held on a pro rata basis by the Lenders in accordance with their Applicable Percentages, whereupon that Lender will cease to be a Defaulting Lender; provided that no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of the Borrower while that Lender was a Defaulting Lender; and provided,  further, that except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Lender to Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender’s having been a Defaulting Lender.

			
	
			
				Article III.
			

TAXES, YIELD PROTECTION AND ILLEGALITY

			
	
			
				 3.01
			Taxes.

		
			 
		

			
	
			
				 (a)
			Payments Free of Taxes; Obligation to Withhold; Payments on Account of Taxes.

			
	
			
				 (i)
			Any and all payments by or on account of any obligation of the Borrower under any Loan Document shall be made without deduction or withholding for any Taxes, except as required by applicable Laws.  If any applicable Laws (as determined in the good faith discretion of the Administrative Agent) require the deduction or withholding of any Tax from any such payment by the Administrative Agent or the Borrower, then the Administrative Agent or the Borrower shall be entitled to make such deduction or withholding, upon the basis of the information and documentation to be delivered pursuant to subsection (e) below.

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

		
			

		 

		

			NYDOCS03/1048584.745

		

 

		

			 

		

		

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

			
	
			
				 (b)
			Payment of Other Taxes by the Borrower.  Without limiting the provisions of subsection (a) above, the Borrower shall timely pay to the relevant Governmental Authority in accordance with applicable law, or at the option of the Administrative Agent timely reimburse it for the payment of, any Other Taxes.

			
	
			
				 (c)
			Tax Indemnifications.

			
	
			
				 (i)
			Without limiting the provisions of subsection (a) or (b) above, the Borrower shall, and does hereby indemnify each Recipient and shall make payment in respect thereof within 10 days after demand therefor, for the full amount of any Indemnified Taxes (including Indemnified Taxes imposed or asserted on or attributable to amounts payable under this Section 3.01) payable or paid by such Recipient or required to be withheld or deducted from payment to such Recipient, and any penalties, interest and reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority.  A certificate as to the amount of such payment or liability delivered to the Borrower 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.  The Borrower shall, and does hereby, indemnify the Administrative Agent, and shall make payment in respect thereof within 10 days after demand therefor, for any amount which a Lender for any reason fails to pay indefeasibly to the Administrative Agent as required pursuant to Section 3.01(c)(ii) below.

			
	
			
				 (ii)
			Each Lender shall, and does hereby, severally indemnify, and shall make payment in respect thereof within 10 days after demand therefor, (x) the Administrative Agent against any Indemnified Taxes attributable to such Lender (but only to the extent that the Borrower has not already indemnified the Administrative Agent for such Indemnified Taxes and without limiting the obligation of the Borrower to do so), (y) the Administrative Agent and the Borrower, as applicable, against any Taxes attributable to such Lender’s failure to comply with the provisions of Section 10.06(e) relating to the maintenance of a Participant Register and (z) the Administrative Agent and the Borrower, as applicable, against any Excluded Taxes attributable to such Lender, in each case, that are payable or paid by the Administrative Agent or the Borrower in connection with any Loan 

		 

		

			NYDOCS03/1048584.746

		

 

		

			 

		

	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 this Agreement or any other Loan Document against any amount due to the Administrative Agent under this clause (ii).

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

			
	
			
				 (e)
			Status of Lenders; Tax Documentation.

			
	
			
				 (i)
			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 and the Administrative Agent, at the time or times reasonably requested by the Borrower or the Administrative Agent, such properly completed and executed documentation reasonably requested by the Borrower or the Administrative Agent as will permit such payments to be made without withholding or at a reduced rate of withholding.  In addition, any Lender, shall deliver such other documentation prescribed by applicable law or the taxing authority of a jurisdiction pursuant to such applicable law or reasonably requested by the Borrower or the Administrative Agent as will enable the Borrower or the Administrative Agent to determine whether or not such Lender is subject to backup withholding or information reporting requirements.  Notwithstanding anything to the contrary in the preceding two sentences, the completion, execution, and submission of such documentation (other than such documentation either (A) set forth in Section 3.01(e)(ii)(A), (ii)(B) and (ii)(D) below or (B) required by applicable law other than the Code or the taxing authorities of the jurisdiction pursuant to such applicable law to comply with the requirements for exemption or reduction of withholding tax in that jurisdiction) shall not be required if in the Lender’s reasonable judgment such completion, execution or submission would subject such Lender to any material unreimbursed cost or expense or would materially prejudice the legal or commercial position of such Lender.

			
	
			
				 (ii)
			Without limiting the generality of the foregoing, 

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

		
			

		 

		

			NYDOCS03/1048584.747

		

 

		

			 

		

		

			
	
			
				 (B)
			any Foreign Lender shall, to the extent it is legally entitled to do so, deliver to the Borrower and the Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter upon the request of the Borrower or the Administrative Agent), whichever of the following is applicable:

			
	
			
				 (I)
			in the case of a Foreign Lender claiming the benefits of an income tax treaty to which the United States is a party, (x) with respect to payments of interest under any Loan Document, executed originals of IRS Form W-8BEN (or Form W-8BEN-E, as applicable) establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the “interest” article of such tax treaty and (y) with respect to any other applicable payments under any Loan Document, IRS Form W-8BEN (or Form W-8BEN-E, as applicable) establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the “business profits” or “other income” article of such tax treaty;

			
	
			
				 (II)
			executed originals of IRS Form W-8ECI;

			
	
			
				 (III)
			in the case of a Foreign Lender claiming the benefits of the exemption for portfolio interest under Section 881(c) of the Code, (x) a certificate substantially in the form of Exhibit F-1 to the effect that such Foreign Lender is not (A) a “bank” within the meaning of Section 881(c)(3)(A) of the Code, (B) a “10 percent shareholder” of the Borrower within the meaning of Sections 871(h)(3)(B) or 881(c)(3)(B) of the Code, or (C) 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 Form W-8BEN-E, as applicable); or

			
	
			
				 (IV)
			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 Form W-8BEN-E, as applicable), a U.S. Tax Compliance Certificate substantially in the form of Exhibit F-2 or Exhibit F-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 F-4 on behalf of each such direct and indirect partner;

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

		
			

		 

		

			NYDOCS03/1048584.748

		

 

		

			 

		

		

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

			
	
			
				 (D)
			if a payment made to a 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 and the Administrative Agent at the time or times prescribed by law and at such time or times reasonably requested by the Borrower or the Administrative Agent such documentation prescribed by applicable law (including as prescribed by Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably requested by the Borrower or the Administrative Agent as may be necessary for the Borrower and the Administrative Agent to comply with their obligations under FATCA and to determine that such Lender has complied with such Lender’s obligations under FATCA or to determine the amount to deduct and withhold from such payment.  Solely for purposes of this clause (D), “FATCA” shall include any amendments made to FATCA after the date of this Agreement.

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

			
	
			
				 (iv)
			The Borrower shall promptly deliver to the Administrative Agent or any Lender, as the Administrative Agent or such Lender shall reasonably request, on or prior to the Effective Date, and in a timely fashion thereafter, such documents and forms required by any relevant taxing authorities under the Laws of any jurisdiction, duly executed and completed by the Borrower, as are required to be furnished by such Lender or the Administrative Agent under such Laws in connection with any payment by the Administrative Agent or any Lender of Taxes, or otherwise in connection with the Loan Documents, with respect to such jurisdiction.

			
	
			
				 (v)
			Each Lender agrees that if any form or certification it previously delivered pursuant to this Section 3.01 expires or becomes obsolete or inaccurate in any respect, it 

		 

		

			NYDOCS03/1048584.749

		

 

		

			 

		

	shall update such form or certification or promptly notify the Borrower and the Administrative Agent in writing of its legal inability to do so.

			
	
			
				 (f)
			Treatment of Certain Refunds.  Unless required by applicable Laws, at no time shall the Administrative Agent have any obligation to file for or otherwise pursue on behalf of a Lender, or have any obligation to pay to any Lender, any refund of Taxes withheld or deducted from funds paid for the account of such Lender.  If any Recipient determines, in its sole discretion, that it has received a refund of any Taxes as to which it has been indemnified by the Borrower or with respect to which the Borrower has paid additional amounts pursuant to this Section, it shall pay to the Borrower an amount equal to such refund (but only to the extent of indemnity payments made, or additional amounts paid, by the Borrower under this Section 3.01 with respect to the Taxes giving rise to such refund), net of all out-of-pocket expenses (including Taxes) incurred by such Recipient and net of any loss or gain realized in the conversion of such funds from or to another currency incurred by the Recipient, and without interest (other than any interest paid by the relevant Governmental Authority with respect to such refund), provided that the Borrower, upon the request of the Recipient agrees to repay the amount paid over to the Borrower (plus any penalties, interest or other charges imposed by the relevant Governmental Authority) to the Recipient in the event the Recipient is required to repay such refund to such Governmental Authority.  Notwithstanding anything to the contrary in this subsection, in no event will the Recipient be required to pay any amount to the Borrower pursuant to this subsection the payment of which would place the Recipient in a less favorable net after-Tax position than the Recipient would have been in if the Tax subject to indemnification and giving rise to such refund had not been deducted, withheld or otherwise imposed and the indemnification payments or additional amounts with respect to such Tax had never been paid.  This subsection shall not be construed to require any Recipient to make available its tax returns (or any other information relating to its taxes that it deems confidential) to the Borrower or any other Person.

			
	
			
				 (g)
			Survival.  Each party’s obligations under this Section 3.01 shall survive the resignation or replacement of the Administrative Agent or any assignment of rights by, or the replacement of, a Lender, the termination of the Commitments and the repayment, satisfaction or discharge of all other Obligations.

			
	
			
				 3.02
			Illegality.  If any Lender determines that any Law has made it unlawful, or that any Governmental Authority has asserted that it is unlawful, for any Lender or its applicable Lending Office to make, maintain or fund Loans whose interest is determined by reference to the Eurocurrency Rate (whether denominated in Dollars or Sterling), or to determine or charge interest rates based upon the Eurocurrency Rate, or any Governmental Authority has imposed material restrictions on the authority of such Lender to purchase or sell, or to take deposits of, Dollars or Sterling in the applicable interbank market, then, on notice thereof by such Lender to the Borrower through the Administrative Agent, (i) any obligation of such Lender to make or continue Tranche A Loans or Eurocurrency Rate Tranche B Loans in the affected currency or currencies or, in the case of Eurocurrency Rate Tranche B Loans, to convert Base Rate Tranche B Loans to Eurocurrency Rate Tranche B Loans shall be suspended and (ii) if such notice asserts the illegality of such Lender making or maintaining Base Rate Tranche B Loans the interest rate on which is determined by reference to the Eurocurrency Rate component of the Base Rate, the interest rate on which Base Rate Tranche B Loans of such Lender shall, if necessary to avoid such illegality, be determined by the Administrative Agent without reference to the Eurocurrency Rate component of 

		 

		

			NYDOCS03/1048584.750

		

 

		

			 

		

	the Base Rate, in each case until such Lender notifies the Administrative Agent and the Borrower that the circumstances giving rise to such determination no longer exist.  Upon receipt of such notice, (x) the Borrower shall, upon demand from such Lender (with a copy to the Administrative Agent), prepay or, if applicable and in the case of Eurocurrency Rate Tranche B Loans, convert all such Eurocurrency Rate Tranche B Loans of such Lender to Base Rate Tranche B Loans (the interest rate on which Base Rate Tranche B Loans of such Lender shall, if necessary to avoid such illegality, be determined by the Administrative Agent without reference to the Eurocurrency Rate component of the Base Rate), either on the last day of the Interest Period therefor, if such Lender may lawfully continue to maintain such Tranche A Loans or Eurocurrency Rate Tranche B Loans to such day, or immediately, if such Lender may not lawfully continue to maintain such Tranche A Loans or Eurocurrency Rate Tranche B Loans and (y) if such notice asserts the illegality of such Lender determining or charging interest rates based upon the Eurocurrency Rate, the Administrative Agent shall during the period of such suspension compute the Base Rate applicable to such Lender without reference to the Eurocurrency Rate component thereof until the Administrative Agent is advised in writing by such Lender that it is no longer illegal for such Lender to determine or charge interest rates based upon the Eurocurrency Rate.   Upon any such prepayment or conversion, the Borrower shall also pay accrued interest on the amount so prepaid or converted.

		
			 
		

			
	
			
				 3.03
			Inability to Determine Rates.  If in connection with any request for a Tranche A Loan or a Eurocurrency Rate Tranche B Loan, continuation thereof or a conversion of a Eurocurrency Tranche B Loan (a) the Administrative Agent determines that deposits (whether in Dollars or in Sterling) are not being offered to banks in the London interbank market for the applicable amount and Interest Period of such Tranche A Loan or Eurocurrency Rate Tranche B Loan, (b) adequate and reasonable means do not exist for determining the Eurocurrency Rate for any requested Interest Period with respect to a proposed Tranche A Loan or a Eurocurrency Rate Tranche B Loan or in connection with an existing or proposed Base Rate Tranche B Loan, or (c) the Administrative Agent or the Required Lenders determine that, for any reason, the Eurocurrency Rate for any requested Interest Period with respect to a proposed Tranche A Loan or a Eurocurrency Rate Tranche B Loan does not adequately and fairly reflect the cost to such Lenders of funding such Tranche A Loan or Eurocurrency Rate Tranche B Loan, the Administrative Agent will promptly so notify the Borrower and each Lender.  Thereafter, (x) the obligation of the Lenders to make or maintain Tranche A Loans and Eurocurrency Rate Tranche B Loans in the affected currency or currencies shall be suspended (to the extent of the affected Tranche A Loans or Eurocurrency Rate Tranche B Loans or Interest Periods), and (y) in the event of a determination described in the preceding sentence with respect to the Eurocurrency Rate component of the Base Rate, the utilization of the Eurocurrency Rate component in determining the Base Rate shall be suspended, in each case until the Administrative Agent (upon the instruction of the Required Lenders) revokes such notice.  Upon receipt of such notice, the Borrower may revoke any pending request for a Borrowing of, or continuation of Tranche A Loans or Eurocurrency Rate Tranche B Loans or conversion to Eurocurrency Rate Tranche B Loans, in each case in the affected currency or currencies (to the extent of the affected Tranche A Loans or Eurocurrency Rate Tranche B Loans or Interest Periods), or, failing that, will be deemed to have converted such request in respect of Eurocurrency Rate Tranche B Loans into a request for a Borrowing of Base Rate Tranche B Loans in the amount specified therein.

		
			 
		

		
			

		 

		

			NYDOCS03/1048584.751

		

 

		

			 

		

		

		
			Notwithstanding the foregoing, if the Administrative Agent has made the determination described in this Section, the Administrative Agent, in consultation with the Borrower and the affected Lenders, may establish an alternative interest rate for any loans subject to clauses (a),  (b) or (c) above (any “Impacted Loans”), in which case such alternative rate of interest shall apply with respect to the Impacted Loans until (1) the Administrative Agent revokes the notice delivered with respect to the Impacted Loans under clause (a) of the first sentence of this section, (2) the Administrative Agent or the affected Lenders notify the Administrative Agent and the Borrower that such alternative interest rate does not adequately and fairly reflect the cost to such Lenders of funding the Impacted Loans, or (3) any Lender determines that any Law has made it unlawful, or that any Governmental Authority has asserted that it is unlawful, for such Lender or its applicable Lending Office to make, maintain or fund Loans whose interest is determined by reference to such alternative rate of interest or to determine or charge interest rates based upon such rate or any Governmental Authority has imposed material restrictions on the authority of such Lender to do any of the foregoing and provides the Administrative Agent and the Borrower written notice thereof.
		

			
	
			
				 3.04
			Increased Costs; Reserves on Tranche A Loans and Eurocurrency Rate Tranche B Loans.

		
			 
		

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

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

			
	
			
				 (ii)
			subject any Recipient to any Taxes (other than (A) Indemnified Taxes, (B) Taxes described in clauses (b) through (d) of the definition of Excluded Taxes and (C) Connection Income Taxes) on its loans, loan principal, letters of credit, commitments, or other obligations, or its deposits, reserves, other liabilities or capital attributable thereto; or

			
	
			
				 (iii)
			impose on any Lender or the London interbank market any other condition, cost or expense affecting this Agreement or Tranche A Loans or Eurocurrency Rate Tranche B Loans made by such Lender;

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

			
	
			
				 (b)
			Capital Requirements.  If any Lender determines that any Change in Law affecting such Lender or any Lending Office of such Lender or such Lender’s holding company, if any, regarding capital or liquidity requirements has or would have the effect of reducing the rate of return on such Lender’s capital or on the capital of such Lender’s holding company, if any, as a consequence of this Agreement, the Commitments of such Lender or the Loans made by such 

		 

		

			NYDOCS03/1048584.752

		

 

		

			 

		

	Lender to a level below that which such Lender or such Lender’s holding company could have achieved but for such Change in Law (taking into consideration such Lender’s policies and the policies of such Lender’s holding company with respect to capital adequacy), then from time to time the Borrower will pay to such Lender such additional amount or amounts as will compensate such Lender or such Lender’s holding company for any such reduction suffered.

			
	
			
				 (c)
			Certificates for Reimbursement.  A certificate (which shall include calculations in reasonable detail) of a Lender setting forth the amount or amounts necessary to compensate such Lender or its holding company, as the case may be, as specified in subsection (a) or (b) of this Section (which notice shall contain an explanation of the computation of the requested compensation) shall be delivered to the Borrower and shall be conclusive absent manifest error.  The Borrower shall pay such Lender the amount shown as due on any such certificate within 10 Business Days after receipt thereof.

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

			
	
			
				 (e)
			Additional Reserve Requirements.  The Borrower shall pay to each Lender, (i) as long as such Lender shall be required, as a result of a Change in Law, to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits (currently known as “Eurocurrency liabilities”), additional interest on the unpaid principal amount of each Tranche A Loan or Eurocurrency Rate Tranche B Loan equal to the actual costs of such reserves allocated to such Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive), and (ii) as long as such Lender shall be required, as a result of a Change in Law, to comply with any reserve ratio requirement or analogous requirement of any other central banking or financial regulatory authority imposed in respect of the maintenance of the Commitments or the funding of the Tranche A Loans or the Eurocurrency Rate Tranche B Loans, such additional costs (expressed as a percentage per annum and rounded upwards, if necessary, to the nearest five decimal places) equal to the actual costs allocated to such Commitment or Loan by such Lender (as determined reasonably by such Lender in good faith, which determination shall be conclusive), which in each case shall be due and payable on each date on which interest is payable on such Loan, provided the Borrower shall have received at least 10 Business Days’ prior notice (with a copy to the Administrative Agent) of such additional interest or costs from such Lender, and an explanation of the computation thereof.  If a Lender fails to give notice 10 Business Days prior to the relevant Interest Payment Date, such additional interest or cost shall be due and payable 10 Business Days from receipt of such notice and explanation.

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

		
			 
		

		
			

		 

		

			NYDOCS03/1048584.753

		

 

		

			 

		

		

			
	
			
				 (a)
			any continuation, conversion, payment or prepayment of any Loan other than a Base Rate Tranche B Loan on a day other than the last day of the Interest Period for such Loan (whether voluntary, mandatory, automatic, by reason of acceleration, or otherwise, but excluding any conversion, payment or prepayment to the extent such Lender, pursuant to Section 3.03, has required the Borrower to make such conversion, payment or prepayment before the end of the applicable Interest Period with respect to such Loan);

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

			
	
			
				 (c)
			any failure by the Borrower to make payment of any Loan (or interest due thereon) on its scheduled due date or any payment thereof in a different currency; or

			
	
			
				 (d)
			any assignment of a Tranche A Loan or a Eurocurrency Rate Tranche B Loan on a day other than the last day of the Interest Period therefor as a result of a request by the Borrower pursuant to Section 10.13;

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

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

			
	
			
				 3.06
			Mitigation Obligations; Replacement of Lenders.

		
			 
		

			
	
			
				 (a)
			Designation of a Different Lending Office.  Each Lender may make a Loan to the Borrower through any Lending Office, provided that the exercise of this option shall not affect the obligation of the Borrower to repay the Loans in accordance with the terms of this Agreement.  If any Lender requests compensation under Section 3.04, or the 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 3.01, or if any Lender gives a notice pursuant to Section 3.02, then at the request of the Borrower such Lender shall, as applicable, use reasonable efforts to designate a different Lending Office for funding or booking its Loans hereunder or to assign its rights and obligations hereunder to another of its offices, branches or affiliates, if, in the judgment of such Lender, such designation or assignment (i) would eliminate or reduce amounts payable pursuant to Section 3.01 or 3.04, as the case may be, in the future, or eliminate the need for the notice pursuant to Section 3.02, as applicable, and (ii) in each case, would not subject such 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.

		
			

		 

		

			NYDOCS03/1048584.754

		

 

		

			 

		

		

			
	
			
				 (b)
			Replacement of Lenders.  If any Lender requests compensation under Section 3.04, or if the 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 3.01 and, in each case, such Lender has declined or is unable to designate a different Lending Office in accordance with Section 3.06(a), the Borrower may replace such Lender in accordance with Section 10.13.

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

		
			 
		

			
	
			
				Article IV.
			
CONDITIONS PRECEDENT TO BORROWING

			
	
			
				 4.01
			Conditions to Effectiveness.  This Agreement shall become effective on the date (the “Effective Date”) on which each of the following conditions is satisfied (or waived in accordance with Section 10.01:

		
			 
		

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

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

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

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

			
	
			
				 (iv)
			opinions of Covington & Burling LLP, counsel to the Borrower, and of the Vice President and Corporate Secretary of the Borrower, each addressed to the Administrative Agent and each Lender, in substantially the forms of Exhibits E-1 and E-2, respectively;

			
	
			
				 (v)
			a certificate of a Responsible Officer of the Borrower either (A) attaching copies of all consents, licenses and approvals required in connection with the execution, delivery and performance by the Borrower and the validity against the Borrower of the 

		 

		

			NYDOCS03/1048584.755

		

 

		

			 

		

	Loan Documents, and such consents, licenses and approvals shall be in full force and effect, or (B) stating that no such consents, licenses or approvals are so required;

			
	
			
				 (vi)
			a certificate signed by a Responsible Officer of the Borrower certifying (A) that no Default or Event of Default as of the Effective Date has occurred and is continuing, (B) that the representations and warranties of the Borrower contained in Article V and each other Loan Document or in any document furnished under or in connection herewith or therewith are true and correct on and as of the Effective Date,  except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct as of such earlier date, (C) that there has been no event or circumstance since the date of the Audited Financial Statements that has had or could be reasonably expected to have, either individually or in the aggregate, a Material Adverse Effect; (D) that there is no action, suit, investigation or proceeding pending or, to the knowledge of the Borrower, threatened in any court or before any arbitrator or Governmental Authority that has had or could be reasonably expected to have, either individually or in the aggregate, a Material Adverse Effect and (E) the current Debt Rating; 

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

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

			
	
			
				 (b)
			The Administrative Agent and the Lenders shall have received from the Borrower all documentation and other information requested by the Administrative Agent or any Lender at least 3 Business Days prior to the Effective Date that is required to satisfy applicable “know your customer” and anti-money laundering rules and regulations, including without limitation the PATRIOT Act.

			
	
			
				 (c)
			The Administrative Agent shall have received the proposed Offer Press Release or Scheme Press Release, as applicable, in each case dated as of or about the date hereof, certified by a Responsible Officer of the Borrower and in form and substance reasonably satisfactory to the Administrative Agent.

		
			The Administrative Agent shall promptly notify the Borrower, the Lenders and the Cash Confirmation Advisor of the occurrence of the Effective Date and such notice shall be conclusive and binding absent manifest error.  Other than to the extent that the Required Lenders notify the Administrative Agent in writing to the contrary before the Administrative Agent gives the notification described in the immediately preceding sentence, the Lenders hereby authorize (but do not require) the Administrative Agent to give that notification.  The Administrative Agent shall not be liable for any damages, costs or losses whatsoever as a result of giving any such notification.  Without limiting the generality of the provisions of the last paragraph of Section 9.03, for purposes of determining compliance with the conditions specified in this Section 4.01, each Lender that has signed this Agreement shall be deemed to have consented to, approved or accepted or to be satisfied with, each document or other matter required thereunder to be consented to or approved by or acceptable or satisfactory to a Lender unless the Administrative Agent shall have 

		 

		

			NYDOCS03/1048584.756

		

 

		

			 

		

received notice from such Lender prior to the proposed Effective Date specifying its objection thereto.
		

			
	
			
				 4.02
			Conditions to Closing.  

		
			 
		

		
			 (I) The obligation of each Lender to make a Loan on the Closing Date is subject to satisfaction (or waiver in accordance with Section 10.01) of the following conditions:
		

			
	
			
				 (a)
			the Effective Date shall have occurred and the Certain Funds Period shall not have ended;

			
	
			
				 (b)
			the Administrative Agent shall have received a Loan Notice in accordance with Section 2.02;

			
	
			
				 (c)
			the Administrative Agent shall have received Notes executed by the Borrower in favor of each Lender requesting Notes, which shall be originals or telecopies (followed promptly by originals), each properly executed by a Responsible Officer of the Borrower, each dated the Closing Date;

			
	
			
				 (d)
			the Administrative Agent shall have received a certificate signed by a Responsible Officer of the Borrower certifying the current Debt Ratings;

			
	
			
				 (e)
			(x) any and all fees and expenses of the Administrative Agent, the Arranger, the Lenders and their respective Affiliates required to be paid on or before the Closing Date shall have been paid (which amounts the Borrower hereby irrevocably and unconditionally authorizes the Administrative Agent to net or otherwise off-set against the proceeds of the Loans) and (y) the Borrower shall have paid all reasonable and documented fees, expenses and disbursements of Shearman & Sterling LLP, as counsel to the Administrative Agent, to the extent invoiced prior to or on the Closing Date (which amounts the Borrower hereby irrevocably and unconditionally authorizes the Administrative Agent to net or otherwise off-set against the proceeds of the Loans)  (provided that the Borrower shall remain liable for any additional reasonable fees and expenses of such counsel to the Administrative Agent in accordance with Section 10.04);  provided further that, in each of preceding clauses (x) and (y), to the extent that the Administrative Agent has been irrevocably and unconditionally authorized by the Borrower to net or otherwise deduct all such fees, expenses and disbursements from the proceeds of the Loans hereunder on the Closing Date, then, once immediately preceding clause (b) has been satisfied (but only to the extent that such Loan Notice requests the borrowing of all Tranche A Commitments on the Closing Date), this clause (e) shall be deemed satisfied only for the purpose of this Section 4.02 (it being understood and agreed that this proviso shall not limit or otherwise satisfy the obligation of the Borrower (or other applicable Person) to pay such fees, expenses and disbursements, to the extent any of such fees, expenses and disbursements are not actually paid on the Closing Date);

			
	
			
				 (f)
			a certificate by a Responsible Officer of the Borrower (x) confirming and certifying that the Certain Funds Conditions other than the condition set forth in clause (d) of the definition of Certain Funds Conditions shall have been, or substantially concurrently with the Closing Date, shall be, satisfied or waived in accordance with the terms of this Agreement and (y) certifying that on the Closing Date, the Borrower is, and the Borrower and its Subsidiaries on a consolidated basis 

		 

		

			NYDOCS03/1048584.757

		

 

		

			 

		

	are, Solvent, both before and after giving effect to the Loans and the disbursements of the proceeds thereof on such date and the consummation of the Transactions;

			
	
			
				 (g)
			in the case of an Offer, the Offer Unconditional Date shall have occurred and the Administrative Agent shall have received copies of the following documents, in each case certified by a Responsible Officer of the Borrower: (i) the Offer Press Release, (ii) the Offer Document (which shall be consistent in all material respects with the Offer Press Release), (iii) the Receiving Agent’s Letter, (iv) a certificate from the Receiving Agent issued in accordance with Note 7 on Rule 10 of the City Code and indicating (x) the total issued share capital of the Target, (y) the number of Target Shares held by the Borrower prior to the commencement of the Offer and (z) the number of Target Shares purchased by the Borrower pursuant to the Offer, and the Administrative Agent shall have received a certificate from a Responsible Officer of the Borrower confirming that (1) the Certain Funds Conditions have been complied with, (2) the Minimum Acceptance Level has been achieved, (3) all conditions to closing specified in the Offer Documents (other than the payment for the consideration for the Target Shares) have been satisfied or waived in accordance with Section 7.15 and (4) if the Borrower has purchased any Target Shares other than pursuant to the Offer, the details of such purchases; and

			
	
			
				 (h)
			in the case of a Scheme, the Scheme Effective Date shall have occurred and the Administrative Agent shall have received certified copies of (i) the court order confirming sanction of the Scheme as required by Part 26 of the Companies Act, (ii) the confirmation-of-delivery of the court order to Companies House (or a copy of the cover letter from the Target’s solicitors delivering the court order to Companies House), (iii) the Scheme Press Release, (iv) the Scheme Circular (which shall be consistent in all material respects with the Scheme Press Release) and (v) the Scheme Resolution referred to and in the form set out in the Scheme Circular passed at the meetings of the shareholders of the Target required to be held to sanction the Scheme under Part 26 of the Companies Act; and the Administrative Agent shall have received a certificate from a Responsible Officer of the Borrower confirming that all conditions to the Scheme (other than the payment for the consideration for the Target Shares) have been satisfied or waived in accordance with Section 7.15.

		
			(II)The obligation of each Lender to make a Tranche B Loan on the Closing Date is subject to satisfaction (or waiver in accordance with Section 10.01) of the conditions set forth in immediately preceding clause (I) of this Section 4.02 and the following additional conditions:
		

		
			(a)the Specified Target Acquisition Representations shall be true and correct to the extent that the Borrower (or any of its Subsidiaries or Affiliates) has, or would have, the right not to consummate the Offer or the Scheme, as the case may be,  or otherwise not to consummate the Target Acquisition, or the Borrower (or any of its Subsidiaries or Affiliates) has, or would have, the right to terminate its obligations to consummate Offer or the Scheme, as the case may be, or otherwise have the right to terminate its obligations to consummate the Target Acquisition as a result of a breach of such representations and warranties in the Target Acquisition Documents, and the Specified Representations shall be true and correct in all material respects (or in all respects if qualified by materiality or material adverse effect or similar);
		

		
			(b) since June 29, 2015, there has not occurred any change, development, circumstance, event, occurrence or effect (each an “Effect”) that, when considered either 

		 

		

			NYDOCS03/1048584.758

		

 

		

			 

		

individually or in the aggregate together with all other Effects, has, directly or indirectly,  caused or otherwise given rise to a Material Adverse Effect;
		

		
			(c)  the Administrative Agent shall have received a Loan Notice in accordance with Section 2.02 with respect to such Tranche B Loan;
		

		
			(d)the Administrative Agent and the Lenders shall have received from the Borrower all documentation and other information requested by the Administrative Agent or any Lender at least 3 Business Days prior to the Closing Date that is required to satisfy applicable “know your customer” and anti-money laundering rules and regulations, including without limitation the PATRIOT Act.
		

		
			(III)The obligation of each Lender to make a Tranche B Loan on the Tranche B Closing Date is subject to satisfaction (or waiver in accordance with Section 10.01) of the following conditions:
		

			
	
			
				 (a)
			the Administrative Agent shall have received a Loan Notice in accordance with Section 2.02;

			
	
			
				 (b)
			the Administrative Agent shall have received Notes executed by the Borrower in favor of each Lender requesting Notes, which shall be originals or telecopies (followed promptly by originals), each properly executed by a Responsible Officer of the Borrower, each dated the Tranche B Closing Date;

			
	
			
				 (c)
			the Administrative Agent shall have received a certificate signed by a Responsible Officer of the Borrower certifying (A) that no  Event of Default as of the Tranche B Closing Date has occurred and is continuing, (B) that the Specified Representations shall be true and correct in all material respects (or in all respects if qualified by materiality or material adverse effect or similar), (C) that there has been no event or circumstance since the date of the Audited Financial Statements that has had or could be reasonably expected to have, either individually or in the aggregate, a Material Adverse Effect and  (D)  the current Debt Ratings; and

			
	
			
				 (d)
			(x) any and all fees and expenses of the Administrative Agent, the Arranger, the Lenders and their respective Affiliates required to be paid on or before the Tranche B Closing Date shall have been paid (which amounts the Borrower hereby irrevocably and unconditionally authorizes the Administrative Agent to net or otherwise off-set against the proceeds of the Tranche B Loans) and (y) the Borrower shall have paid all reasonable and documented fees, expenses and disbursements of Shearman & Sterling LLP, as counsel to the Administrative Agent, to the extent invoiced prior to or on the Tranche B Closing Date (which amounts the Borrower hereby irrevocably and unconditionally authorizes the Administrative Agent to net or otherwise off-set against the proceeds of the Tranche B Loans)  (provided that the Borrower shall remain liable for any additional reasonable fees and expenses of such counsel to the Administrative Agent in accordance with Section 10.04).

			
	
			
				 4.03
			Actions During the Certain Funds Period.  During the Certain Funds Period (unless (x) the conditions precedent set forth in clause (I) of Section 4.02 have not been satisfied or waived in which case no Lender is obliged to honor any Loan Notice or (y) the conditions precedent set 

		 

		

			NYDOCS03/1048584.759

		

 

		

			 

		

	forth in clause (II) of Section 4.02 have not been satisfied or waived in which case no Lender is obliged to honor any Loan Notice in respect to Tranche B Commitments) and notwithstanding any provision of any Loan Document to the contrary, no Lender shall be entitled to (nor shall any Lender be entitled to request the Administrative Agent to):

		
			 
		

			
	
			
				 (a)
			rescind, cancel or terminate its Tranche A Commitments hereunder (subject to any Commitment reductions made pursuant to Section 2.04);

			
	
			
				 (b)
			rescind, exercise any right, power or discretion to terminate or cancel this Agreement or exercise any similar right or remedy or make or enforce any claim under the Loan Documents it may have to the extent to do so would prevent or limit the making of a Borrowing under the Tranche A Commitments;

			
	
			
				 (c)
			refuse to participate in the making of a Borrowing under the Tranche A Commitments (including, without limitation, by virtue of operation of Section 3.03);

			
	
			
				 (d)
			exercise any right of set-off or counterclaim or similar rights or remedy which it may exercise in respect of a Borrowing under the Tranche A Commitments to the extent to do so would prevent or limit the making of a Borrowing under the Tranche A Commitments;

			
	
			
				 (e)
			cancel, accelerate or cause repayment or prepayment of any amounts owing hereunder or under any other Loan Document to the extent to do so would prevent or limit the making of a Borrowing under the Tranche A Commitments or exercise any enforcement or other rights under any Loan Document; or

			
	
			
				 (f)
			take any other action or make or enforce any claim to the extent that such action, claim or enforcement would directly or indirectly prevent or limit the making of a Borrowing under the Tranche A Commitments;

		
			provided that immediately upon expiry of the Certain Funds Period, all rights, remedies and entitlements shall be available to the Administrative Agent and the Lenders notwithstanding that they may not have been used or been available for use during the Certain Funds Period. 
		

			
	
			
				Article V.
			

REPRESENTATIONS AND WARRANTIES

		
			The Borrower represents and warrants to the Administrative Agent and the Lenders as of the Effective Date, the Closing Date (after giving effect to the consummation of the Transactions) and the Tranche B Closing Date that:
		

			
	
			
				 5.01
			Existence, Qualification and Power; Compliance with Laws.  The Borrower and each Subsidiary thereof (a) is duly organized or formed, validly existing and in good standing under the Laws of the jurisdiction of its incorporation or organization, (b) has all requisite power and authority and all requisite governmental licenses, authorizations, consents and approvals to (i) own or lease its assets and carry on its business and (ii) execute, deliver and perform its obligations under the Loan Documents, (c) is duly qualified and is licensed and (to the extent the concept of “good standing” exists under such Laws) in good standing under the Laws of each jurisdiction where its ownership, lease or operation of properties or the conduct of its business requires such 

		 

		

			NYDOCS03/1048584.760

		

 

		

			 

		

	qualification or license, and (d) is in compliance with all Laws; except in each case referred to in clause (b)(i),  (c) or (d) (or, with respect to any Subsidiary, in each case referred to in clause (a),  (b),  (c) or (d)), to the extent that failure to do so would not reasonably be expected to have a Material Adverse Effect.

		
			 
		

			
	
			
				 5.02
			Authorization; No Contravention.  The execution, delivery and performance by the Borrower of each Loan Document have been duly authorized by all necessary corporate or other organizational action, and do not and, in the case of performance by the Borrower of each Loan Document, will not (a) contravene the terms of any of the Borrower’s Organization Documents; (b) conflict with or result in any breach or contravention of, or the creation of any Lien under, or require any payment to be made under (i) any Contractual Obligation to which the Borrower is a party or to which the Borrower or the properties of the Borrower or any of its Subsidiaries is subject or (ii) any order, injunction, writ or decree of any Governmental Authority or any arbitral award to which the Borrower or its property is subject; or (c) violate any Law in any material respect, except, in the case of immediately preceding clauses (b) and (c), to the extent that failure to do so would not reasonably be expected to have a Material Adverse Effect.  The Borrower and each Subsidiary thereof is in compliance with all Contractual Obligations referred to in clause (b)(i), except to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect.

		
			 
		

			
	
			
				 5.03
			Governmental Authorization; Other Consents.  No approval, consent, exemption, authorization, or other action by, or notice to, or filing with, any Governmental Authority or any other Person is necessary or required in connection with the execution, delivery or performance by, or enforcement against, the Borrower of this Agreement or any other Loan Document.

		
			 
		

			
	
			
				 5.04
			Binding Effect.  This Agreement has been, and each other Loan Document, when delivered hereunder, will have been, duly executed and delivered by the Borrower.  This Agreement constitutes, and each other Loan Document when so delivered will constitute, a legal, valid and binding obligation of the Borrower, enforceable against the Borrower in accordance with its terms.

		
			 
		

			
	
			
				 5.05
			Financial Statements; No Material Adverse Effect.

		
			 
		

			
	
			
				 (a)
			The Audited Financial Statements (i) were prepared in accordance with GAAP consistently applied throughout the period covered thereby, except as otherwise expressly noted therein; (ii) fairly present the financial condition of the Borrower and its Subsidiaries as of the date thereof and their results of operations for the period covered thereby in accordance with GAAP consistently applied throughout the period covered thereby, except as otherwise expressly noted therein; and (iii) show all material indebtedness and other liabilities, direct or contingent, of the Borrower and its Subsidiaries as of the date thereof, including liabilities for taxes, material commitments and Indebtedness.  From the date of the Audited Financial Statements through the Effective Date, the Closing Date and the Tranche B Closing Date, as the case may be, the Borrower and its consolidated Subsidiaries have not incurred any additional material indebtedness or other liabilities, direct or contingent, including liabilities for taxes, material commitments and Indebtedness, except for such indebtedness and liabilities reflected on Schedule 7.03, Inter-Company Indebtedness, other indebtedness and liabilities incurred in the ordinary course of business and, with respect to the Tranche B Closing Date, (x) indebtedness and liabilities under a 

		 

		

			NYDOCS03/1048584.761

		

 

		

			 

		

	Qualifying Term Loan Facility and (y) Indebtedness of the Target and any Guarantee thereof by the Borrower, each as permitted under Section 7.03, or in each case a refinancing thereof.

			
	
			
				 (b)
			The unaudited consolidated and consolidating balance sheet of the Borrower and its Subsidiaries dated April 2, 2016, and the related consolidated statements of income or operations, shareholders’ equity and cash flows, and consolidating statements of income or operations for the fiscal quarter ended on that date (i) were prepared in accordance with GAAP consistently applied throughout the period covered thereby, except as otherwise expressly noted therein, and (ii) fairly present the financial condition of the Borrower and its Subsidiaries as of the date thereof and their results of operations for the period covered thereby, subject, in the case of clauses (i) and (ii), to the absence of footnotes and to normal year-end audit adjustments.

			
	
			
				 (c)
			Since the date of the Audited Financial Statements, there has been no event or circumstance, either individually or in the aggregate, that has had or could reasonably be expected to have a Material Adverse Effect.

			
	
			
				 (d)
			Schedule 7.03 sets forth all Indebtedness owed by the Borrower to any Subsidiary as of the Effective Date (other than Indebtedness owed by the Borrower to Avnet Receivables Corporation in connection with the Existing Securitization Facility).

			
	
			
				 5.06
			Litigation.  Except as disclosed on Schedule 5.06, there are no actions, suits, proceedings, claims or disputes pending or, to the knowledge of the Borrower after due and diligent investigation, threatened, at law, in equity, in arbitration or before any Governmental Authority, by or against the Borrower or any of its Subsidiaries or against any of their properties or revenues that (a) purport to affect or pertain to this Agreement or any other Loan Document, or any of the transactions contemplated hereby, or (b) either individually or in the aggregate, is reasonably likely to be determined adversely and, if so determined, could reasonably be expected to have a Material Adverse Effect.

		
			 
		

			
	
			
				 5.07
			No Default.  No Default or Event of Default has occurred and is continuing or would result from the consummation of the transactions contemplated by this Agreement or any other Loan Document.

		
			 
		

			
	
			
				 5.08
			Ownership of Property; Liens.  Each of the Borrower and each Subsidiary has good record and marketable title in fee simple to, or valid leasehold interests in, all real property necessary or used in the ordinary conduct of its business, except for such defects in title as could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.  The property of the Borrower and its Subsidiaries is subject to no Liens, other than Liens permitted by Section 7.01.

		
			 
		

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

		
			 
		

		
			

		 

		

			NYDOCS03/1048584.762

		

 

		

			 

		

		

			
	
			
				 5.10
			Insurance.  The Borrower and its Subsidiaries maintain, with financially sound and responsible insurance companies or through self-insurance, insurance on all their respective properties in at least such amounts and against such risks (and with such risk retention) as are usually insured against in the same general area by companies of established repute engaged in the same or a similar business.

		
			 
		

			
	
			
				 5.11
			Taxes.  The Borrower and its Subsidiaries have filed all Federal, state and other material tax returns and reports required to be filed, and have paid all Federal, state and other material taxes, assessments, fees and other governmental charges levied or imposed upon them or their properties, income or assets otherwise due and payable, except those which are being contested in good faith by appropriate proceedings diligently conducted and for which adequate reserves have been provided in accordance with GAAP, and except (in the case of Non-Material Subsidiaries) where the failure to file such returns or reports or to make such payments could not reasonably be expected to have a Material Adverse Effect.  To the knowledge of the Borrower, there is no proposed tax assessment against the Borrower or any Subsidiary that would, if made, have a Material Adverse Effect.  Neither the Borrower nor any Material Subsidiary thereof is party to any tax sharing agreement.  No Non-Material Subsidiary is a party to any tax sharing agreement that could reasonably be expected to have a Material Adverse Effect.

		
			 
		

			
	
			
				 5.12
			ERISA Compliance.

		
			 
		

			
	
			
				 (a)
			Each Plan is in compliance in all material respects with the applicable provisions of ERISA, the Code and other U.S. Federal or state Laws.  Each Pension Plan that is intended to be a qualified plan under Section 401(a) of the Code has received a favorable determination letter from the IRS to the effect that the form of such Plan is qualified under Section 401(a) of the Code and the trust related thereto has been determined by the IRS to be exempt from federal income tax under Section 501(a) of the Code, or an application for such a letter is currently being processed by the IRS with respect thereto.  To the best knowledge of the Borrower, nothing has occurred which would cause the loss of such qualification that could reasonably be expected to have a Material Adverse Effect.  The Borrower and each ERISA Affiliate have made all required contributions to each Plan subject to Section 412 of the Code, and no application for a funding waiver or an extension of any amortization period pursuant to Section 412 of the Code has been made with respect to any Plan.

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

			
	
			
				 (c)
			(i) No ERISA Event has occurred, and neither the Borrower nor any ERISA Affiliate is aware of any fact, event or circumstance that is reasonably expected to constitute or result in an ERISA Event with respect to any Pension Plan; (ii) the Borrower and each ERISA Affiliate has met all applicable requirements under the Pension Funding Rules in respect of each Pension Plan, and no waiver of the minimum funding standards under the Pension Funding Rules has been applied for or obtained; (iii) as of the most recent valuation date for any Pension Plan, the funding target attainment percentage (as defined in Section 430(d)(2) of the Code) is 60% or 

		 

		

			NYDOCS03/1048584.763

		

 

		

			 

		

	higher and neither the Borrower nor any ERISA Affiliate knows of any facts or circumstances that could reasonably be expected to cause the funding target attainment percentage for any such plan to drop below 60% as of the most recent valuation date; (iv) neither the Borrower nor any ERISA Affiliate has incurred any liability to the PBGC other than for the payment of premiums, and there are no premium payments which have become due that are unpaid; (v) neither the Borrower nor any ERISA Affiliate has engaged in a transaction that could be subject to Section 4069 or Section 4212(c) of ERISA; and (vi) no Pension Plan has been terminated by the plan administrator thereof nor by the PBGC, and no event or circumstance has occurred or exists that could reasonably be expected to cause the PBGC to institute proceedings under Title IV of ERISA to terminate any Pension Plan.

			
	
			
				 5.13
			Subsidiaries; Equity Interests.   As of the Effective Date, the Borrower has no Subsidiaries with any material assets, material liabilities or ongoing operations other than those specifically disclosed in Schedule 5.13, and all of the outstanding Equity Interests in such Subsidiaries have been validly issued, are fully paid and nonassessable and are owned by the Borrower in the amounts specified on Part (a) of Schedule 5.13 free and clear of all Liens.  As of the Effective Date, the Borrower has no equity investments in any other corporation or entity other than (a) those specifically disclosed in Schedule 5.13 and (b) equity investments in any corporation or entity where the aggregate amount invested in such Person by the Borrower is less than $5,000,000.  All of the outstanding Equity Interests in the Borrower have been validly issued, and are fully paid and nonassessable.

		
			 
		

			
	
			
				 5.14
			Margin Regulations; Investment Company Act.

		
			 
		

			
	
			
				 (a)
			The proceeds of any Loan will not be used by the Borrower for purchasing or carrying margin stock (within the meaning of Regulation U issued by the FRB), or extending credit for the purpose of purchasing or carrying margin stock.

			
	
			
				 (b)
			The Borrower is not and is not required to be registered as an “investment company” under the Investment Company Act of 1940.

			
	
			
				 5.15
			Disclosure.  No report, financial statement, certificate or other information furnished (whether orally by a Responsible Officer or in writing) by or on behalf of the Borrower to the Administrative Agent or any Lender in connection with the transactions contemplated hereby and the negotiation of this Agreement or delivered hereunder or under any other Loan Document (in each case as modified or supplemented by other information so furnished) contains any material misstatement of fact or omits to state any material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided that, with respect to projected financial information, the Borrower represents only that such information was prepared in good faith based upon assumptions believed to be reasonable at the time.

		
			 
		

			
	
			
				 5.16
			Compliance with Laws.  Each of the Borrower and each Subsidiary is in compliance in all material respects with the requirements of all Laws and all orders, writs, injunctions and decrees applicable to it or to its properties, except in such instances in which (a) such requirement of Law or order, writ, injunction or decree is being contested in good faith by appropriate proceedings diligently conducted or (b) the failure to comply therewith, either 

		 

		

			NYDOCS03/1048584.764

		

 

		

			 

		

	individually or in the aggregate, could not reasonably be expected to have a Material Adverse Effect.

		
			 
		

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

		
			 
		

			
	
			
				 5.18
			Solvency. On the Effective Date, the Borrower is, and, on the Closing Date and the Tranche B Closing Date, as the case may be, the Borrower and its Subsidiaries on a consolidated basis will be, Solvent, both before and after giving effect to the Loans and the disbursements of the proceeds thereof on such date and the consummation of the Transactions.        

			
	
			
				 5.19
			Taxpayer Identification Number; Other Identifying Information.  The true and correct U.S. taxpayer identification number of the Borrower is set forth on Schedule 10.02.

		
			 
		

			
	
			
				 5.20
			OFAC.   Neither the Borrower, nor any of its Subsidiaries, nor any director or officer thereof, nor, to the knowledge of the Borrower and its Subsidiaries, any employee, agent, affiliate or representative thereof, is an individual or entity that is (i) currently the subject or target of any Sanctions, (ii) included on OFAC’s List of Specially Designated Nationals, HMT’s Consolidated List of Financial Sanctions Targets and the Investment Ban List, or any similar list enforced by any other relevant sanctions authority,  (iii) 10% or more owned by an individual or entity that is on a list described in immediately preceding clause (ii) or (iv) located, organized or resident in a Designated Jurisdiction.

		
			 
		

			
	
			
				 5.21
			Anti-Corruption Laws.   (a)  The Borrower and its Subsidiaries have conducted their businesses in compliance in all material respects with the Patriot Act.

		
			 
		

		
			(b)  The Borrower and its Subsidiaries (x) have conducted their businesses in compliance in all material respects with the United States Foreign Corrupt Practices Act of 1977, the UK Bribery Act 2010, and other similar anti-corruption legislation in other jurisdictions and (y) have instituted and maintained reasonable and customary policies and procedures designed to promote and achieve compliance with such laws in all material respects.
		

			
	
			
				 5.22
			EEA Financial Institutions.    The Borrower is not an EEA Financial Institution.

		
			 
		

			
	
			
				 5.23
			Target Acquisition Documents.  The Administrative Agent and the Lenders shall have been furnished complete copies of each Target Acquisition Document to the extent executed and delivered on or prior to the Effective Date or the Closing Date, as applicable.  In the case of a Scheme, the Scheme Press Release contains all the material terms of the Scheme and the Scheme Circular reflects the Scheme Press Release in all material respects; and in the case of an Offer, the 

		 

		

			NYDOCS03/1048584.765

		

 

		

			 

		

	Offer Documents (taken as a whole) contain all material terms of the Offer and reflect the Offer Press Release in all material respects.  

		
			 
		

			
	
			
				Article VI.
			

AFFIRMATIVE COVENANTS

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

			
	
			
				 6.01
			Financial Statements.  Deliver to the Administrative Agent and each Lender, in form and detail satisfactory to the Administrative Agent and the Required Lenders:

		
			 
		

			
	
			
				 (a)
			as soon as available, but in any event within fifteen days after the date on which consolidated financial statements for such year are required to be delivered to the SEC under the Securities Exchange Act, a consolidated balance sheet of the Borrower and its Subsidiaries as at the end of each fiscal year of the Borrower, and the related consolidated statements of income or operations, shareholders’ equity and cash flows for such fiscal year, setting forth in each case in comparative form the figures for the previous fiscal year, all in reasonable detail and prepared in accordance with GAAP, audited and accompanied by a report and opinion of a Registered Public Accounting Firm of nationally recognized standing reasonably acceptable to the Required Lenders, which report and opinion shall be prepared in accordance with audit standards of the Public Company Accounting Oversight Board and applicable Securities Laws and shall not be subject to any “going concern” or like qualification or exception or any qualification or exception as to the scope of such audit or with respect to the absence of material misstatement;

			
	
			
				 (b)
			as soon as available, but in any event within fifteen days after the date on which consolidated financial statements for such period are required to be delivered to the SEC under the Securities Exchange Act, a consolidated balance sheet of the Borrower and its Subsidiaries as at the end of each fiscal quarter of the Borrower (commencing with the fiscal quarter ending October 1, 2016), and the related consolidated statements of income or operations, shareholders’ equity and cash flows for such fiscal quarter and for the portion of the Borrower’s fiscal year then ended, setting forth in each case in comparative form the figures for the corresponding fiscal quarter of the previous fiscal year and the corresponding portion of the previous fiscal year, all in reasonable detail, such statements to be certified by a Responsible Officer of the Borrower as fairly presenting the financial condition and results of operations of the Borrower and its Subsidiaries in accordance with GAAP, subject only to normal year-end audit adjustments and the absence of footnotes; and

			
	
			
				 (c)
			as soon as available, but in any event on the date on which the financial statements referred to in Sections 6.01(a) and (b) for such period are required to be delivered to the Administrative Agent and the Lenders, a consolidating balance sheet of the Borrower and its Subsidiaries, based on each geographic region,  as at the end of such period and the related consolidating statements of income or operations, for such period, setting forth in each case in comparative form the figures for the previous fiscal year, all in reasonable detail and prepared in accordance with GAAP, such statements to be certified by a Responsible Officer of the Borrower to the effect that such statements are fairly stated in all material respects when considered in relation to the applicable consolidated financial statements of the Borrower and its Subsidiaries.

		
			

		 

		

			NYDOCS03/1048584.766

		

 

		

			 

		

		

		
			As to any information contained in materials furnished pursuant to Section 6.02(c), the Borrower shall not be separately required to furnish such information under clause (a) or (b) above, but the foregoing shall not be in derogation of the obligation of the Borrower to furnish the information and materials described in clauses (a) and (b) above at the times specified therein.
		

			
	
			
				 6.02
			Certificates; Other Information.   Deliver to the Administrative Agent and each Lender, in form and detail satisfactory to the Administrative Agent and the Required Lenders:

		
			 
		

			
	
			
				 (a)
			concurrently with the delivery of the financial statements referred to in Section 6.01(a), a certificate of its independent certified public accountants certifying such financial statements and stating that in making the examination necessary therefor no knowledge was obtained of any Default or Event of Default under the financial covenants set forth herein or, if any such Default or Event of Default shall exist, stating the nature and status of such event;

			
	
			
				 (b)
			concurrently with the delivery of the financial statements referred to in Sections 6.01(a) and (b) (commencing with the fiscal quarter ending October 1, 2016), a duly completed Compliance Certificate signed by a Responsible Officer of the Borrower (which delivery may, unless the Administrative Agent or a Lender requests executed originals, be by electronic communication including fax or email and shall be deemed to be an original authentic counterpart thereof for all purposes);

			
	
			
				 (c)
			promptly after the same are available, copies of each annual report, proxy or financial statement or other report or communication sent to the stockholders of the Borrower, and copies of all annual, regular, periodic and special reports and registration statements (other than registration statements on Form S-8 or any successor form thereto) which the Borrower may file or be required to file with the SEC under Section 13 or 15(d) of the Securities Exchange Act, and not otherwise required to be delivered to the Administrative Agent pursuant hereto;

			
	
			
				 (d)
			promptly after the furnishing thereof, copies of any correspondence, notice, statement or report furnished to any holder of debt securities of the Borrower or any Subsidiary thereof with respect to any default or event of default under any indenture, loan or credit or similar agreement and not otherwise required to be furnished to the Lenders pursuant to Section 6.01 or any other clause of this Section 6.02;

			
	
			
				 (e)
			promptly, and in any event within five Business Days after the Borrower is aware of receipt by the Borrower or any Subsidiary thereof, copies of each notice received from the SEC concerning any investigation by such agency regarding material financial or other operational results of the Borrower or any Material Subsidiary; and

			
	
			
				 (f)
			promptly, such additional information regarding the business, financial or corporate affairs of the Borrower or any Subsidiary, or compliance with the terms of the Loan Documents, as the Administrative Agent or any Lender may from time to time reasonably request.

		
			Documents required to be delivered pursuant to Section 6.01(a) or (b) or Section 6.02 (to the extent any such documents are included in materials otherwise filed with the SEC) may be delivered electronically and if so delivered, shall be deemed to have been delivered on the date (i) on which the Borrower posts such documents, or provides a link thereto on the Borrower’s website on the Internet at the website address listed on Schedule 10.02; or (ii) on which such 

		 

		

			NYDOCS03/1048584.767

		

 

		

			 

		

documents are posted on the Borrower’s behalf on an Internet or intranet website, if any, to which each Lender and the Administrative Agent have access (whether a commercial, third-party website or whether sponsored by the Administrative Agent); provided that:  (i) the Borrower shall deliver paper copies of such documents to the Administrative Agent or any Lender that requests the Borrower to deliver such paper copies until a written request to cease delivering paper copies is given by the Administrative Agent or such Lender and (ii) the Borrower shall notify the Administrative Agent and each Lender (by telecopier or electronic mail) of the posting of any such documents and provide to the Administrative Agent by electronic mail electronic versions (i.e., soft copies) of such documents.  The Administrative Agent shall have no obligation to request the delivery or to maintain copies of the documents referred to above, and in any event shall have no responsibility to monitor compliance by the Borrower with any such request for delivery, and each Lender shall be solely responsible for requesting delivery to it or maintaining its copies of such documents.
		

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

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

		
			 
		

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

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

		 

		

			NYDOCS03/1048584.768

		

 

		

			 

		

	Environmental Laws, in each case that has resulted or could reasonably be expected to result in a Material Adverse Effect;

			
	
			
				 (c)
			of the occurrence of any ERISA Event;

			
	
			
				 (d)
			of any material change in accounting policies or financial reporting practices by the Borrower and its Subsidiaries on a consolidated basis; and

			
	
			
				 (e)
			of any public announcement by (or written announcement received by the Borrower from) Moody’s or S&P of any change in a Debt Rating.

		
			Each notice pursuant to this Section shall be accompanied by a statement of a Responsible Officer of the Borrower setting forth details of the occurrence referred to therein and stating what action the Borrower has taken and proposes to take with respect thereto.  Each notice pursuant to Section 6.03(a) shall describe with particularity any and all provisions of this Agreement and any other Loan Document that have been breached, if any.
		

			
	
			
				 6.04
			Payment of Obligations.  Pay and discharge as the same shall become due and payable, all its obligations and liabilities, including (a) all tax liabilities, assessments and governmental charges or levies upon it or its properties or assets, unless the same are being contested in good faith by appropriate proceedings diligently conducted and adequate reserves in accordance with GAAP are being maintained by the Borrower or such Subsidiary; (b) all lawful claims which, if unpaid, would by law become a Lien upon its property; and (c) all Indebtedness, as and when due and payable, but subject to any subordination provisions contained in any instrument or agreement evidencing such Indebtedness, except, in the case of clauses (b) and (c), where the failure to do so, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect.

		
			 
		

			
	
			
				 6.05
			Preservation of Existence, Etc. 

		
			 
		

			
	
			
				 (a)
			Preserve, renew and maintain in full force and effect its legal existence, except in a transaction permitted by Section 7.04;

			
	
			
				 (b)
			to the extent the concept of “good standing” exists under the Laws of the jurisdiction of its organization, preserve, renew and maintain in full force and effect its good standing under such Laws, except (i) in a transaction permitted by Section 7.04 or (ii) in the case of one or more immaterial Subsidiaries, to the extent that failure to maintain such good standing could not reasonably be expected to have a Material Adverse Effect, either individually or in the aggregate;

			
	
			
				 (c)
			take all reasonable action to maintain all rights, privileges, permits, licenses and franchises necessary or desirable in the normal conduct of its business, except to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect; and

			
	
			
				 (d)
			preserve or renew all of its registered patents, trademarks, trade names and service marks, the non-preservation of which could reasonably be expected to have a Material Adverse Effect.

		
			

		 

		

			NYDOCS03/1048584.769

		

 

		

			 

		

		

			
	
			
				 6.06
			Maintenance of Properties.  (a) Maintain, preserve and protect all of its properties and equipment in good working order and condition, ordinary wear and tear excepted; and (b) make all necessary repairs thereto and renewals and replacements thereof, in each case except where the failure to do so could not reasonably be expected to have a Material Adverse Effect.

		
			 
		

			
	
			
				 6.07
			Maintenance of Insurance.  Maintain, with financially sound and responsible insurance companies or through self-insurance, insurance on all their respective properties in at least such amounts and against such risks (and with such risk retention) as are usually insured against in the same general area by companies of established repute engaged in the same or a similar business; and furnish to the Lenders, upon request from the Administrative Agent, information presented in reasonable detail as to the insurance so carried.

		
			 
		

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

		
			 
		

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

		
			 
		

			
	
			
				 6.10
			Inspection Rights.  Permit representatives of the Administrative Agent and each Lender to visit and inspect any of its properties, to examine its corporate, financial and operating records, and make copies thereof or abstracts therefrom, and to discuss its affairs, finances and accounts with its directors, officers, and independent public accountants, all at such reasonable times during normal business hours and as often as may be reasonably desired, upon reasonable advance notice to the Borrower;  provided, however, that when an Event of Default exists the Administrative Agent or any Lender (or any of their respective representatives or independent contractors) may do any of the foregoing at the expense of the Borrower at any time during normal business hours and without advance notice.

		
			 
		

			
	
			
				 6.11
			Anti-Corruption and Anti-Terrorism Laws.  Conduct its businesses in compliance in all material respects with the Patriot Act, the United States Foreign Corrupt Practices Act of 1977, the UK Bribery Act 2010, and other similar anti-corruption legislation in other jurisdictions and maintain policies and procedures designed to promote and achieve compliance with such laws.

		
			 
		

			
	
			
				 6.12
			Scheme and Offer Affirmative Covenants.  (a) Ensure that, in the case of an Offer, the terms of the Offer as set out in the Offer Press Release are consistent in all material respects with the press release provided to the Administrative Agent pursuant to terms of Section 4.01(c) or, in the case of a Scheme, that the terms of the Scheme as set out in the Scheme Press Release are consistent in all material respects with the press release provided to the Administrative Agent pursuant to terms of Section 4.01(c), subject in either such case to any variations which are not 

		 

		

			NYDOCS03/1048584.770

		

 

		

			 

		

	materially adverse to the interests of the Lenders (or where the prior written consent of the Administrative Agent has been given).

		
			 
		

			
	
			
				 (a)
			Procure that (x) any Scheme Circular or Offer Document is issued and dispatched in accordance with the timetable set out in the relevant Press Release and in any event within 28 days (or such longer period permitted by the Panel) and (y) except as consented to by the Administrative Agent in writing (such consent not to be unreasonably withheld or delayed) or otherwise required by the Panel, any Scheme Circular or Offer Document reflects the latest Press Release in all material respects except for any variation that if done by amendment to the Scheme Circular or Offer Document would not contravene Section 7.16(b).

			
	
			
				 (b)
			Comply in all material respects with the City Code, subject to any waivers granted by the Panel, and all other applicable laws and regulations in relation to any Offer or Scheme where failure to do so would be materially adverse to the interests of the Lenders or where the prior written consent of the Administrative Agent is given.

			
	
			
				 (c)
			Keep the Administrative Agent informed as to the status and progress with the Scheme or Offer and promptly provide the Administrative Agent with such information as it may reasonably request regarding the status of the Target Acquisition (including, in the case of an Offer, the current level of acceptances and, in the case of a Scheme, the details of the current level of proxies received) subject to any confidentiality, regulatory or other restrictions relating to the supply of such information.

			
	
			
				 (d)
			Deliver to the Administrative Agent copies of each Press Release, each Offer Document, any Receiving Agent’s Letter, any written agreement between the Borrower and the Target with respect to the Scheme, any other Scheme Documents, all other material announcements and documents published or delivered by the Borrower pursuant to the Offer or Scheme (other than the cash confirmation) and all material legally binding agreements entered into by the Borrower in connection with an Offer or Scheme, in each case except to the extent it is prohibited by law, regulation or confidentiality restrictions from doing so.

			
	
			
				 (e)
			In the event that an Offer is to be switched to a Scheme or a Scheme is to be switched to an Offer in accordance with Section 7.15, (i) promptly inform the Administrative Agent thereof in writing (the “Switch Notice”); (ii) within 5 Business Days of the Switch Notice procure that the relevant Press Release is issued, and deliver a copy to the Administrative Agent and (iii) except as consented to by the Administrative Agent in writing or otherwise required by the Panel, ensure that the terms and condition of the Offer or Scheme, as applicable, contained in the Offer Press Release and any Offer Document or the Scheme Press Release and any Scheme Document, as applicable, are consistent in all material respects with those contained in the Scheme Press Release and any Scheme Document or the Offer Press Release and any Offer Document, as the case may be (to the extent applicable thereto) and, in the case of an Offer, include the Minimum Acceptance Level.

			
	
			
				 (f)
			In the case of an Offer, (x) procure that such Offer is a “takeover offer” as defined in Section 974 of the Companies Act and that such Offer applies to all of the Target Shares, unless otherwise consented to by the Administrative Agent and (y) promptly upon becoming entitled to give any notice under Section 979(2) or Section 979(4) of the Companies Act, ensure that all such 

		 

		

			NYDOCS03/1048584.771

		

 

		

			 

		

	notices that may be given under section 979 of the Companies Act at that time are issued and implemented and that the relevant provisions of the Companies Act are complied with.

			
	
			
				 (g)
			Within 30 days after the Target Acquisition Closing Date procure that the Target takes such action as is necessary to ensure that the Target (and any other relevant members of the Target and its Subsidiaries) is re‐registered as a private limited company in accordance with the Companies Act.

			
	
			
				 (i)
			In relation to a Scheme, on the Target Acquisition Closing Date procure that the Target will apply to the Financial Conduct Authority for the cancellation of the listing of the Target Shares on the Official List of the Financial Conduct Authority and to the London Stock Exchange for the cancellation of trading of Target Shares on its main market for listed securities in each case to take effect no later than 5 Business Days after the Target Acquisition Closing Date and, in relation to an Offer, as soon as reasonably practicable after the Target Acquisition Closing Date and in any event within 5 Business Days thereof, procure that the Target notifies the Stock Exchange of the preferred date of the cancellation of the listing of the Target Shares on its main market for listed securities, such date being not later than 21 Business Days following such notification.

			
	
			
				 (h)
			Without prejudice to any other provision of this Agreement, not waive, vary or release any term or condition of the Offer Documents or the Scheme Documents (as applicable) without the consent of the Administrative Agent unless (A) such waiver, variation or release would not be reasonably likely to be materially prejudicial to the interests of the Lenders under the Loan Documents or (B) the Borrower is required to so waive, vary or release by the Panel.

			
	
			
				 6.13
			Effective Date Fees and Expenses.

			
	
			
				 (a)
			The Borrower shall pay within two Business Days from the Effective Date any and all fees and expenses of the Administrative Agent, the Arranger, the Lenders and their respective Affiliates required to be paid on or before the Effective Date.

			
	
			
				 (b)
			The Borrower shall pay within two Business Days from the Effective Date all reasonable and documented fees, expenses and disbursements of Shearman & Sterling LLP, as counsel to the Administrative Agent, to the extent invoiced prior to or on the Effective Date (provided that the Borrower shall remain liable for any additional reasonable fees and expenses of such counsel to the Administrative Agent in accordance with Section 10.04).

			
	
			
				Article VII.
			

NEGATIVE COVENANTS

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

			
	
			
				 7.01
			Liens.  Create, incur, assume or suffer to exist any Lien upon any of its property, assets or revenues, whether now owned or hereafter acquired, other than the following:

		
			 
		

			
	
			
				 (a)
			Liens pursuant to any Loan Document;

		
			

		 

		

			NYDOCS03/1048584.772

		

 

		

			 

		

		

			
	
			
				 (b)
			Liens existing on the date hereof and listed on Schedule 7.01 and any renewals or extensions thereof, provided that (i) the property covered thereby is not changed, (ii) the amount secured or benefited thereby is not increased, and (iii) any renewal or extension of the obligations secured or benefited thereby is permitted by Section 7.03(b);

			
	
			
				 (c)
			Liens for taxes, assessments or other governmental charges not yet due or which are being contested in good faith and by appropriate proceedings diligently conducted, if adequate reserves with respect thereto are maintained on the books of the applicable Person in accordance with GAAP;

			
	
			
				 (d)
			carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s or other like Liens arising in the ordinary course of business;

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

			
	
			
				 (f)
			deposits to secure the performance of bids, trade contracts and leases (other than Indebtedness for borrowed money), statutory obligations, surety bonds (other than bonds related to judgments or litigation), performance bonds and other obligations of a like nature incurred in the ordinary course of business;

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

			
	
			
				 (h)
			Liens securing judgments for the payment of money not constituting an Event of Default under Section 8.01(h) or securing appeal or other surety bonds related to such judgments;

			
	
			
				 (i)
			Liens securing Indebtedness permitted under Section 7.03(d);  provided that (i) such Liens do not at any time encumber any property other than the property financed by such Indebtedness, (ii) the Indebtedness secured thereby does not exceed the cost of the property being acquired on the date of acquisition, and (iii) such Lien attached concurrently with, or within 270 days after, the acquisition of the property encumbered thereby;

			
	
			
				 (j)
			Liens on accounts receivable subject to Permitted Securitization Facilities which Liens secure (or encumber such accounts receivable to provide credit support for) such facilities;

			
	
			
				 (k)
			Liens on inventory acquired in the ordinary course of business to secure the purchase price of such inventory or to secure Indebtedness incurred solely for the purpose of financing the acquisition of such inventory, provided that the Indebtedness secured thereby does not exceed the cost of such inventory;

			
	
			
				 (l)
			any Lien arising out of the refinancing, extension, renewal or refunding of any secured Indebtedness, provided that (i) prior to such refinancing, extension, renewal or refunding, the collateral for such secured Indebtedness (the “original Indebtedness”) is permitted by this Section 7.01, (ii) after giving effect to such refinancing, extension, renewal or refunding, the 

		 

		

			NYDOCS03/1048584.773

		

 

		

			 

		

	property covered by such Lien is not changed from the property securing the original Indebtedness, (iii) the amount secured or benefited by such Lien is not increased above the amount secured by such property under the original Indebtedness, and (iv) any such refinancing, extension, renewal or refunding of Indebtedness is permitted by Section 7.03;

			
	
			
				 (m)
			Liens on cash collateral or government securities to secure Swap Contracts, provided that the aggregate fair market value of such cash collateral and government securities does not exceed $25,000,000 at any time;

			
	
			
				 (n)
			Liens on assets of Foreign Subsidiaries to secure Indebtedness of such Foreign Subsidiaries, provided that the aggregate principal amount of Indebtedness secured by such Liens does not exceed $50,000,000 at any time; and

			
	
			
				 (o)
			Liens not otherwise permitted under clauses (a)-(n) of this Section 7.01, provided that the aggregate fair market value of all assets subject to such Liens does not exceed 10.0% of Consolidated Tangible Net Worth at any time.

			
	
			
				 7.02
			[Reserved].

		
			 
		

			
	
			
				 7.03
			Indebtedness.  Create, incur, assume or suffer to exist any Indebtedness, except:

		
			 
		

			
	
			
				 (a)
			Indebtedness under the Loan Documents and under the Existing Credit Agreement and the Existing Target Notes;

			
	
			
				 (b)
			Indebtedness outstanding on the date hereof listed on Schedule 7.03 and any renewal or replacement thereof, so long as such renewal or replacement does not increase the amount of such Indebtedness;

			
	
			
				 (c)
			obligations (contingent or otherwise) of the Borrower or any Subsidiary existing or arising under any Swap Contract, provided that (i) such obligations are (or were) entered into by such Person in the ordinary course of business for the purpose of directly mitigating risks associated with liabilities, commitments, investments, assets, or property held or reasonably anticipated by such Person, or changes in the value of securities issued by such Person, and not for purposes of speculation or taking a “market view;” and (ii) such Swap Contract does not contain any provision exonerating the non-defaulting party from its obligation to make payments on outstanding transactions to the defaulting party;

			
	
			
				 (d)
			Indebtedness in respect of capital leases, Synthetic Lease Obligations and purchase money obligations for fixed or capital assets within the limitations set forth in the proviso to Section 7.01(i);

			
	
			
				 (e)
			Indebtedness of Subsidiaries in an aggregate principal amount not to exceed $500,000,000 at any time outstanding;

			
	
			
				 (f)
			any Guarantee by the Borrower of Indebtedness of any Subsidiary permitted by this Section 7.03;

			
	
			
				 (g)
			Indebtedness under Permitted Securitization Facilities;

		
			

		 

		

			NYDOCS03/1048584.774

		

 

		

			 

		

		

			
	
			
				 (h)
			Indebtedness of a Person, or in respect of assets, acquired pursuant to a Permitted Acquisition and existing at the time of such Acquisition; provided that (I) such Indebtedness (x) shall not have been incurred in contemplation of such Acquisition, (y) may not be extended, renewed or refunded except as otherwise permitted by this Agreement, and (z) in the case of Indebtedness secured by a Lien on the assets acquired pursuant to a Permitted Acquisition (or on the assets of a Person that becomes a Subsidiary as a result of a Permitted Acquisition), such Indebtedness, together with any other secured Indebtedness permitted by this clause (h), shall not exceed $50,000,000 in the aggregate outstanding at any time and (II) neither the Borrower nor any Subsidiary (other than a Person acquired as part of such Permitted Acquisition) is directly or indirectly liable for such Indebtedness, whether through any Guarantee or otherwise, other than liability with respect to which recourse is limited to the assets so acquired;

			
	
			
				 (i)
			unsecured Indebtedness of the Borrower;  

			
	
			
				 (j)
			Indebtedness owed by any Subsidiary to the Borrower or any other Subsidiary (“Inter-Company Indebtedness”);  

			
	
			
				 (k)
			Indebtedness of the Borrower or any Subsidiary in respect of a Qualifying Term Loan Facility in an aggregate principal amount not to exceed $700,000,000.

			
	
			
				 7.04
			Fundamental Changes.  Merge, dissolve, liquidate, consolidate with or into another Person, or Dispose of (whether in one transaction or in a series of transactions) all or substantially all of its assets (whether now owned or hereafter acquired) to or in favor of any Person, except that, so long as no Default or Event of Default exists or would result therefrom:

		
			 
		

			
	
			
				 (a)
			any Subsidiary may merge with (i) the Borrower,  provided that the Borrower shall be the continuing or surviving Person, or (ii) any one or more other Subsidiaries;

			
	
			
				 (b)
			any Subsidiary may Dispose of all or substantially all of its assets (upon voluntary liquidation or otherwise) to the Borrower or to another Subsidiary;

			
	
			
				 (c)
			any Subsidiary (other than a Material Subsidiary) may merge, dissolve, liquidate, consolidate with or into another Person subject to compliance with Section 7.11, if applicable, or Dispose of (whether in one transaction or in a series of transactions) all or substantially all of its assets (upon voluntary liquidation or otherwise) (whether now owned or hereafter acquired) to or in favor of any Person; and

			
	
			
				 (d)
			(i) the Borrower may merge with any other Person (including a Material Subsidiary) so long as the Borrower is the surviving entity and such merger complies with Section 7.11, if applicable; and (ii) a Material Subsidiary may merge with any other Person (other than the Borrower) so long as the Material Subsidiary is the surviving entity and such merger complies with Section 7.11, if applicable.

			
	
			
				 7.05
			Restricted Payments.  Declare or make, directly or indirectly, any Restricted Payment, or incur any obligation to do so, except that, so long as no Default or Event of Default shall have occurred and be continuing at the time of any action described below or would result therefrom:

		
			 
		

		
			

		 

		

			NYDOCS03/1048584.775

		

 

		

			 

		

		

			
	
			
				 (a)
			each Subsidiary may make Restricted Payments to the Borrower and any other Person that owns an Equity Interest in such Subsidiary, ratably according to their respective holdings of the type of Equity Interest in respect of which such Restricted Payment is being made;

			
	
			
				 (b)
			the Borrower and each Subsidiary may declare and make dividend payments or other distributions payable solely in the common stock or other common Equity Interests of such Person;

			
	
			
				 (c)
			the Borrower and each Subsidiary may purchase, redeem or otherwise acquire Equity Interests with the proceeds received from the substantially concurrent issue of new shares of its common stock or other common Equity Interests;

			
	
			
				 (d)
			the Borrower may declare and pay cash dividends and purchase, redeem or otherwise acquire for cash Equity Interests issued by it so long as the Consolidated Leverage Ratio is less than or equal to 3.50 to 1.00 (as determined both before and after giving effect to such payment, purchase redemption or acquisition); 

			
	
			
				 (e)
			in addition to the Restricted Payments permitted by clause (d) of this Section 7.05, the Borrower may (when Consolidated Leverage Ratio is greater than 3.50 to 1.00) declare and pay cash dividends and purchase, redeem or otherwise acquire for cash Equity Interests issued by it; provided that, the aggregate of such dividends plus the aggregate consideration paid for all such purchases, redemptions and acquisitions after the Effective Date at times when the Consolidated Leverage Ratio is greater than 3.50 to 1.00 (other than in respect of shares purchased for the purpose of satisfying the Borrower’s obligations under employee or director stock purchase, stock grant and stock option plans) shall not exceed $25,000,000;

			
	
			
				 (f)
			the Borrower and each Subsidiary may make Restricted Payments to consummate the Transactions.

			
	
			
				 7.06
			Change in Nature of Business.  (a) Engage in any material line of business substantially different from a Permitted Business.  For the avoidance of doubt, the Target shall be deemed a Permitted Business.  

		
			 
		

		
			(b)During the Certain Funds Period and until the Target Acquisition Closing Date, the Borrower shall not engage in any business or activity other than (i) any business or activity materially consistent with the Borrower’s past practice, (ii) the execution and delivery of the Loan Documents and the performance of its obligations thereunder, (iii) the performance of its obligations under the Target Acquisition Documents, (iv) taking all actions, including executing and delivering any related agreements, for the purpose of consummating any Debt Issuance that will reduce the Commitments and/or refinance the Loans outstanding under this Agreement or the Existing Credit Agreement, (v) activities incidental to the consummation of the Transactions (including for the avoidance of doubt, any intercompany loans) and (vi) activities necessary or advisable for or incidental to the businesses or activities described in clauses (i) to and including clause (v) of this Section 7.06(b).
		

			
	
			
				 7.07
			Transactions with Affiliates.  Enter into any transaction of any kind with any Affiliate of the Borrower, whether or not in the ordinary course of business, other than (a) on fair and reasonable terms substantially as favorable to the Borrower or such Subsidiary as would be 

		 

		

			NYDOCS03/1048584.776

		

 

		

			 

		

	obtainable by the Borrower or such Subsidiary at the time in a comparable arm’s length transaction with a Person other than an Affiliate, or (b) transactions among the Borrower and its Subsidiaries so long as such transactions do not, either individually or in the aggregate, have a Material Adverse Effect.

		
			 
		

			
	
			
				 7.08
			Limitation on Restrictions Affecting the Borrower or any Subsidiary.  Enter into any Contractual Obligation (other than this Agreement, any other Loan Document, the Existing Credit Agreement or any Qualifying Term Loan Facility) that limits the ability (a) of any Subsidiary to make Restricted Payments to the Borrower or to otherwise transfer property to the Borrower, or (b) of the Borrower or any Subsidiary to create, incur, assume or suffer to exist Liens on property of such Person; provided, however, that this Section 7.08 shall not prohibit:

		
			 
		

			
	
			
				 (i)
			any negative pledge incurred or provided in favor of any holder of Indebtedness permitted under Section 7.03(d) solely to the extent any such negative pledge relates to the property financed by or the subject of such Indebtedness;

			
	
			
				 (ii)
			restrictions imposed by other permitted Indebtedness ranking pari passu with the Obligations, provided that such restrictions are no more restrictive than those imposed by this Agreement;

			
	
			
				 (iii)
			restrictions imposed by applicable Law;

			
	
			
				 (iv)
			restrictions imposed by Indebtedness outstanding on the date hereof and listed on Schedule 7.03;

			
	
			
				 (v)
			restrictions imposed by Indebtedness relating to any property acquired by the Borrower or any Subsidiary (or restrictions imposed by Indebtedness of a third party which third party is acquired by the Borrower or any Subsidiary) in an acquisition permitted by this Agreement, provided in each case that such restrictions existed at the time of such acquisition, were not put in place in connection with or in anticipation of such acquisition and are not applicable to any Person other than the Person so acquired, or to any property other than the property so acquired;

			
	
			
				 (vi)
			restrictions with respect solely to any Subsidiary imposed pursuant to a binding agreement which has been entered into for the sale of all or substantially all of the Equity Interests or assets of such Subsidiary, provided that such restrictions apply solely to the Equity Interests or assets of such Subsidiary which are being sold;

			
	
			
				 (vii)
			in connection with and pursuant to any refinancing of Indebtedness, replacements of restrictions imposed pursuant to clauses (ii),  (iv),  (v) or (vii) of this Section, provided that (A) such refinancing is permitted by Section 7.03, and (B) the replacement restrictions are not more restrictive than those being replaced and do not apply to any Person or assets other than those that would have been covered by the restrictions in the Indebtedness so refinanced;

			
	
			
				 (viii)
			restrictions on any Special Purpose Finance Subsidiary and assets of such Special Purpose Finance Subsidiary, which restrictions are contained in the applicable Permitted Securitization Facility for which such Subsidiary was created;

		
			

		 

		

			NYDOCS03/1048584.777

		

 

		

			 

		

		

			
	
			
				 (ix)
			in connection with any permitted lease of property entered into in the ordinary course of business, customary provisions restricting the subletting or assignment of, or Liens on, the property subject to such lease, consistent with industry practice; and

			
	
			
				 (x)
			in connection with any Lien permitted by Section 7.01, customary restrictions on the transfer or disposition of, or imposition of further Liens on, the asset subject to such Lien.

			
	
			
				 7.09
			Use of Proceeds.   (a) Use the proceeds of any Loan, whether directly or indirectly, and whether immediately, incidentally or ultimately, to purchase or carry margin stock (within the meaning of Regulation U of the FRB) or to extend credit to others for the purpose of purchasing or carrying margin stock or to refund indebtedness originally incurred for such purpose, in each case in violation of, or for a purpose which violates or would be inconsistent with, Regulation T, U or X of the FRB,  (b) use the proceeds of the Tranche A Loans for any purpose other than financing the Transactions and the Transaction Costs or (c) use the proceeds of the Tranche B Loans for any purpose other than to consummate the Target Debt Refinancing.

		
			 
		

			
	
			
				 7.10
			Financial Covenants.

		
			 
		

			
	
			
				 (a)
			Consolidated Interest Coverage Ratio.   Permit the Consolidated Interest Coverage Ratio as of the end of any period of four fiscal quarters of the Borrower to be less than 3.00 to 1.00.

			
	
			
				 (b)
			Consolidated Leverage Ratio.  Permit the Consolidated Leverage Ratio at any time to be greater than 4.00 to 1.00.

			
	
			
				 7.11
			Acquisitions.  Consummate any Acquisition (other than the Target Acquisition), unless (i) no Default or Event of Default shall have occurred and be continuing either immediately before or immediately after giving effect to such Acquisition, and (ii) both immediately before and immediately after such Acquisition (after giving pro forma effect to the consummation of such Acquisition as if the Acquisition occurred on the first day of the four fiscal quarters most recently ended, and giving pro forma effect to the incurrence, repayment, prepayment, redemption or defeasance of any Indebtedness in connection therewith), the Borrower is in compliance with each of the covenants set forth in Section 7.10.

		
			 
		

			
	
			
				 7.12
			Sanctions.  Directly or indirectly, use the proceeds of any Loan, or lend, contribute or otherwise knowingly make available such proceeds to any Subsidiary, joint venture partner or other individual or entity, to fund any activities of or business with any individual or entity, or in any Designated Jurisdiction, that, at the time of such funding, is the subject of Sanctions, or in any other manner that will result in a violation by any individual or entity (including any individual or entity participating in the transaction, whether as Lender, Arranger, Administrative Agent or otherwise) of Sanctions.

		
			 
		

			
	
			
				 7.13
			Anti-Corruption and Anti-Terrorism Laws.  Directly or indirectly use the proceeds of any Loan for any purpose which would breach the Patriot Act, the United States Foreign Corrupt Practices Act of 1977, the UK Bribery Act 2010, and other similar anti-corruption legislation in other jurisdictions.

		
			 
		

		
			

		 

		

			NYDOCS03/1048584.778

		

 

		

			 

		

		

			
	
			
				 7.14
			Maintenance of Government Approvals.  Fail to maintain any authorizations, consents, approvals, licenses from, exemptions of, or filings and registrations with, each Governmental Authority required in connection the Loan Documents, except to the extent that such failure to maintain such authorizations, consents, approvals, licenses from, exemptions of, or filings and registrations could not reasonably be expected to have a Material Adverse Effect.

		
			 
		

			
	
			
				 7.15
			Permitted Transactions.  Notwithstanding anything else contained in the Loan Documents, the Borrower and its Subsidiaries shall be permitted to:

		
			 
		

			
	
			
				 (a)
			if the Target Acquisition is initially implemented by way of an Offer, withdraw or lapse such Offer and instead proceed with the Target Acquisition by way of a Scheme and, thereafter, switch to a further Offer or further Scheme (which the Borrower may do on multiple occasions without restriction) subject to compliance by the Borrower with Section 6.12(f);

			
	
			
				 (b)
			implement the Squeeze-Out Procedures; and

			
	
			
				 (c)
			re-register the Target as a private limited company and take any step or enter into any transaction arising as a result or part of the re-registration of the Target as a private limited company.

			
	
			
				 7.16
			   Scheme and Offer Negative Covenants.  The Borrower covenants and agrees with the Administrative Agent and the Lenders that it will not:

		
			 
		

			
	
			
				 (a)
			     except as consented to by the Administrative Agent in writing (such consent not to be unreasonably withheld or delayed) and subject to the Panel’s consent where required by the City Code or other Applicable Law, increase or decrease, or announce an increase or a decrease in, the price per share at which the Offer or Scheme (as the case may be) is proposed as set out in the Press Release (and not knowingly permit any Person acting in concert (as defined by the Panel and the City Code) to take an action requiring an increase or a decrease in such price, including, without limitation, not knowingly permitting any Person to purchase any Target Shares in excess of the purchase price set forth in the Offer before the Target Acquisition Closing Date), or otherwise increase or decrease the Target Acquisition consideration, but excluding any increase or decrease in an aggregate amount not to exceed 10% of the Target Acquisition consideration;

			
	
			
				 (b)
			amend, vary, waive or otherwise modify the terms and conditions of the Offer or Scheme set out in the relevant Press Release or Offer Document or Scheme Document (save as contemplated by clause (a) above or clause (e) below), or treat as satisfied any condition, the satisfaction of which involves an assessment regarding the acceptability or otherwise to the Borrower of conditions imposed by any regulatory body, if such amendment, variation, waiver, modification or treating as satisfied is material and is reasonably likely to be materially prejudicial to the interests of the Lenders under the Loan Documents, in each case except as consented to by the Administrative Agent in writing (such consent not to be unreasonably withheld or delayed), or except to the extent required by the Panel, the court or any other applicable law, regulation or regulatory body (and, in the case of any such requirement, the Borrower will consult with the Administrative Agent regarding making such representations to the Panel or court if circumstances permit);

		
			

		 

		

			NYDOCS03/1048584.779

		

 

		

			 

		

		

			
	
			
				 (c)
			make any public announcement or public statement (other than in the relevant Press Release, Scheme Documents or Offer Documents) concerning this Agreement or the parties to this Agreement (other than the Borrower) in connection with the financing of the Target Acquisition without the prior written consent of the Administrative Agent (such consent not to be unreasonably withheld, delayed or conditioned) or unless required to do so by the City Code or the Panel, the court, any regulation, any applicable stock exchange, any applicable governmental or other regulatory authority to the extent such public announcement or public statement is material and is reasonably likely to be prejudicial to the interests of the Lenders under the Loan Documents;

			
	
			
				 (d)
			become obliged, or take any action to knowingly permit any Person acting in concert (as defined by the Panel and the City Code) with it or its Affiliates to become obliged, to make an offer to the shareholders of the Target under Rule 9 of the City Code; and

			
	
			
				 (e)
			in the case of an Offer, (1) without the prior agreement of the Required Lenders, declare the Offer unconditional as to acceptances until the Minimum Acceptance Level is achieved or (2) without the prior agreement of the Required Lenders, unless required to do so by the Panel, a court of competent jurisdiction or by other applicable law, extend the Offer Unconditional Date beyond the date falling 81 days after posting of the Offer Document.

			
	
			
				Article VIII.
			

EVENTS OF DEFAULT AND REMEDIES

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

		
			 
		

			
	
			
				 (a)
			Non-Payment.   The Borrower fails to pay (i) when and as required to be paid herein, and in the currency required hereunder, any amount of principal of any Loan, or (ii) within three (3) Business Days after the same becomes due, any interest on any Loan, or any fee due hereunder, or (iii) within five (5) Business Days after the same becomes due, any other amount payable hereunder or under any other Loan Document; or

			
	
			
				 (b)
			Specific Covenants.   The Borrower fails to perform or observe any term, covenant or agreement contained in Section 2 of the Fee Letter or any of Section 6.03, 6.05(a) (to the extent it relates to preservation of legal existence of the Borrower), 6.10 or 6.12 or Article VII, and with respect to Section 7.01 or 7.03, such failure continues for a period of 20 days; or

			
	
			
				 (c)
			Other Defaults.   The Borrower fails to perform or observe any other covenant or agreement (not specified in subsection (a) or (b) above) contained in any Loan Document on its part to be performed or observed and such failure continues for 30 days after the Borrower has knowledge thereof; or

			
	
			
				 (d)
			Representations and Warranties.  Any representation or warranty of the Borrower, or any written certification or other material written statement of fact made or deemed made by the Borrower or by a Responsible Officer on behalf of the Borrower herein, in any other Loan Document, or in any document delivered in connection herewith or therewith shall be incorrect or misleading in any material respect when made or deemed made, except to the extent such representation, warranty, written certification or other written statement of fact already contains a materiality qualifier in which case an Event of Default shall exist if such representation, warranty, 

		 

		

			NYDOCS03/1048584.780

		

 

		

			 

		

	written certification or other written statement of fact shall be incorrect or misleading in any respect when made or deemed made; or

			
	
			
				 (e)
			Cross-Default.  (i) The Borrower or any Subsidiary (A) fails to make any payment of principal when due (whether at scheduled maturity, by required prepayment, acceleration, demand or otherwise) in respect of any Indebtedness or Guarantee (other than Indebtedness hereunder and Indebtedness under Swap Contracts) having an aggregate principal amount (including amounts owing to all creditors under any combined or syndicated credit arrangement) of more than $50,000,000, or (B) fails to observe or perform any other agreement or condition (including any obligation to make any payment of interest, fees or other amounts) relating to any Indebtedness or Guarantee (other than Indebtedness hereunder and Indebtedness under Swap Contracts) having an aggregate principal amount (including undrawn committed or available amounts and including amounts owing to all creditors under any combined or syndicated credit arrangement) of more than $50,000,000 or contained in any instrument or agreement evidencing, securing or relating thereto, or any other event occurs, the effect of which default or other event is to cause, or to permit the holder or holders of such Indebtedness or the beneficiary or beneficiaries of such Guarantee (or a trustee or agent on behalf of such holder or holders or beneficiary or beneficiaries) to cause, with the giving of notice if required, such Indebtedness to be demanded or to become due or to be repurchased, prepaid, defeased or redeemed (automatically or otherwise), or an offer to repurchase, prepay, defease or redeem such Indebtedness to be made, prior to its stated maturity, or such Guarantee to become payable or cash collateral in respect thereof to be demanded; or (ii) there occurs under any Swap Contract an Early Termination Date (as defined in such Swap Contract) resulting from (A) any event of default under such Swap Contract as to which the Borrower or any Subsidiary is the Defaulting Party (as defined in such Swap Contract) or (B) any Termination Event (as so defined) under such Swap Contract as to which the Borrower or any Subsidiary is an Affected Party (as so defined) and, in either event, the Swap Termination Value owed by the Borrower or such Subsidiary as a result thereof is greater than $50,000,000; or

			
	
			
				 (f)
			Insolvency Proceedings, Etc.  The Borrower or any Material Subsidiary institutes or consents to the institution of any proceeding under any Debtor Relief Law, or makes an assignment for the benefit of creditors; or applies for or consents to the appointment of any receiver, trustee, custodian, conservator, liquidator, rehabilitator or similar officer for it or for all or any material part of its property; or any receiver, trustee, custodian, conservator, liquidator, rehabilitator or similar officer is appointed without the application or consent of such Person and the appointment continues undischarged or unstayed for 60 calendar days as to the Borrower or 90 calendar days as to any Material Subsidiary; or any proceeding under any Debtor Relief Law relating to any such Person or to all or any material part of its property is instituted without the consent of such Person and continues undismissed or unstayed for 60 calendar days as to the Borrower or 90 calendar days as to any Material Subsidiary, or an order for relief is entered in any such proceeding; or

			
	
			
				 (g)
			Inability to Pay Debts; Attachment.  (i) The Borrower or any Material Subsidiary becomes unable or admits in writing its inability or fails generally to pay its debts as they become due, or (ii) any writ or warrant of attachment or execution or similar process is issued or levied against all or any material part of the property of any such Person and is not released, vacated or fully bonded within 30 days after its issue or levy; or

		
			

		 

		

			NYDOCS03/1048584.781

		

 

		

			 

		

		

			
	
			
				 (h)
			Judgments.  There is entered against the Borrower or any Subsidiary one or more final judgments or orders for the payment of money in an aggregate amount (as to all such judgments or orders) exceeding $50,000,000 (to the extent not covered by independent third-party insurance as to which the insurer does not dispute coverage), and (A) such judgments or orders have remained unsatisfied for a period of 30 days or more, (B) enforcement proceedings are commenced by any creditor upon such judgments or orders, or (C) there is a period of 30 consecutive days during which a stay of enforcement of such judgments or orders, by reason of a pending appeal or otherwise, is not in effect; or

			
	
			
				 (i)
			ERISA.  (i) An ERISA Event occurs with respect to a Pension Plan or Multiemployer Plan which has resulted or could reasonably be expected to result in liability of the Borrower under Title IV of ERISA to the Pension Plan, Multiemployer Plan or the PBGC in an aggregate amount in excess of $50,000,000, or (ii) the Borrower or any ERISA Affiliate fails to pay when due, after the expiration of any applicable grace period, any installment payment with respect to its withdrawal liability under Section 4201 of ERISA under a Multiemployer Plan in an aggregate amount in excess of $25,000,000; or

			
	
			
				 (j)
			Invalidity of Loan Documents.  Any Loan Document, at any time after its execution and delivery and for any reason other than (x) as expressly permitted hereunder or satisfaction in full of all the Obligations or (y) on or prior to the Closing Date, except as set out in any qualification in any legal opinion delivered pursuant to Section 4.01, ceases to be in full force and effect; or the Borrower or any Subsidiary of the Borrower contests in any manner the validity or enforceability of any Loan Document; or the Borrower denies that it has any or further liability or obligation under any Loan Document, or purports to revoke, terminate or rescind any Loan Document; or

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

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

		
			 
		

			
	
			
				 (a)
			declare the commitment of each Lender to make Loans to be terminated, whereupon such commitments and obligation shall be terminated;

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

			
	
			
				 (c)
			exercise on behalf of itself and the Lenders all rights and remedies available to it and the Lenders under the Loan Documents;

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

		
			

		 

		

			NYDOCS03/1048584.782

		

 

		

			 

		

		

			
	
			
				 8.03
			Application of Funds.  After the exercise of remedies provided for in Section 8.02 (or after the Loans have automatically become immediately due and payable as set forth in the proviso to Section 8.02), any amounts received by the Administrative Agent on account of the Obligations shall, subject to the provisions of Section 2.12 be applied by the Administrative Agent in the following order:

		
			 
		

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

		
			Second, to payment of that portion of the Obligations constituting fees, indemnities and other amounts (other than principal and interest) payable to the Lenders (including fees, charges and disbursements of counsel to the respective Lenders (including fees and time charges for attorneys who may be employees of any Lender) and amounts payable under Article III), ratably among them in proportion to the respective amounts described in this clause Second payable to them;
		

		
			Third, to payment of that portion of the Obligations constituting accrued and unpaid interest on the Loans and other Obligations, ratably among the Lenders in proportion to the respective amounts described in this clause Third payable to them;
		

		
			Fourth, to payment of that portion of the Obligations constituting unpaid principal of the Loans, ratably among the Lenders in proportion to the respective amounts described in this clause Fourth held by them; and
		

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

			
	
			
				 8.04
			Clean-Up Period.        

		
			 
		

			
	
			
				 (a)
			Subject to clause (b) below, notwithstanding any other provision of any Loan Document, a matter or circumstance relating exclusively to the Target or any of its Subsidiaries in connection with the Target Acquisition which would otherwise constitute a Default or Event of Default will not constitute a Default or Event of Default (other than with respect to Sections 8.01(a) or 8.01(b) (solely with respect to Section 7.10)) during the ninety day period immediately following the Target Acquisition Closing Date (the “Clean-Up Period”); provided that: (i) it is capable of remedy and appropriate steps are being taken to remedy it, (ii) the circumstances giving rise to it have not been procured by or approved by the Borrower or any of its Subsidiaries, (iii) it would not reasonably be expected to have a Material Adverse Effect and (iv) no Event of Default of the type described in Sections 8.01(f) or (g) has occurred and is continuing in respect of the Target.

			
	
			
				 (b)
			If the relevant circumstances are continuing after the Clean-Up Period, there shall be a breach of representations or warranties, breach of covenant or Event of Default, as the case may be, notwithstanding the above (and without prejudice to the rights and remedies of the Lenders).

		
			

		 

		

			NYDOCS03/1048584.783

		

 

		

			 

		

		

			
	
			
				Article IX.
			

ADMINISTRATIVE AGENT

			
	
			
				 9.01
			Appointment and Authority.  Each of the Lenders hereby irrevocably appoints Bank of America to act on its behalf as the Administrative Agent hereunder and under the other Loan Documents and authorizes the Administrative Agent to take such actions on its behalf and to exercise such powers as are delegated to the Administrative Agent by the terms hereof or thereof, together with such actions and powers as are reasonably incidental thereto.  The provisions of this Article are solely for the benefit of the Administrative Agent and the Lenders, and the Borrower shall not have any rights as a third party beneficiary of any of such provisions.  It is understood and agreed that the use of the term “agent” herein or in any other Loan Documents (or any other similar term) with reference to the Administrative Agent is not intended to connote any fiduciary or other implied (or express) obligations arising under agency doctrine of any applicable Law.  Instead, such term is used as a matter of market custom, and is intended to create or reflect only an administrative relationship between contracting parties.

		
			 
		

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

		
			 
		

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

		
			 
		

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

			
	
			
				 (b)
			shall not have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby or by the other Loan Documents that the Administrative Agent is required to exercise as directed in writing by the Required Lenders (or such other number or percentage of the Lenders as shall be expressly provided for herein or in the other Loan Documents), provided that the Administrative Agent shall not be required to take any action that, in its opinion or the opinion of its counsel, may expose the Administrative Agent to liability or that is contrary to any Loan Document or applicable law, including, for the avoidance of doubt, any action that may be in violation of the automatic stay under any Debtor Relief Law or that may effect a forfeiture, modification or termination of a property of a Defaulting Lender in violation of any Debtor Relief Law; and

			
	
			
				 (c)
			shall not, except as expressly set forth herein and in the other Loan Documents, have any duty to disclose, and shall not be liable for the failure to disclose, any information 

		 

		

			NYDOCS03/1048584.784

		

 

		

			 

		

	relating to the Borrower or any of its Affiliates that is communicated to or obtained by the Person serving as the Administrative Agent or any of its Affiliates in any capacity.

		
			The Administrative Agent shall not be liable for any action taken or not taken by it (i) with the consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary, or as the Administrative Agent shall believe in good faith shall be necessary, under the circumstances as provided in Sections 10.01 and 8.02) or (ii) in the absence of its own gross negligence or willful misconduct as determined by a court of competent jurisdiction by final and non-appealable judgment.  The Administrative Agent shall be deemed not to have knowledge of any Default or Event of Default unless and until notice describing such Default or Event of Default, as the case may be, is given in writing to the Administrative Agent by the Borrower or a Lender.
		

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

			
	
			
				 9.04
			Reliance by Administrative Agent.  The Administrative Agent shall be entitled to rely upon, and shall not incur any liability for relying upon, any notice, request, certificate, consent, statement, instrument, document or other writing (including any electronic message, Internet or intranet website posting or other distribution) believed by it to be genuine and to have been signed, sent or otherwise authenticated by the proper Person.  The Administrative Agent also may rely upon any statement made to it orally or by telephone and believed by it to have been made by the proper Person, and shall not incur any liability for relying thereon.  In determining compliance with any condition hereunder to the making of a Loan 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.

		
			 
		

			
	
			
				 9.05
			Delegation of Duties.  The Administrative Agent may perform any and all of its duties and exercise its rights and powers hereunder or under any other Loan Document by or through any one or more sub agents appointed by the Administrative Agent.  The Administrative Agent and any such sub agent may perform any and all of its duties and exercise its rights and powers by or through their respective Related Parties.  The exculpatory provisions of this Article shall apply to any such sub agent and to the Related Parties of the Administrative Agent and any such sub agent, and shall apply to their respective activities in connection with the syndication of the credit facilities provided for herein as well as activities as Administrative Agent. 

		
			 
		

		
			

		 

		

			NYDOCS03/1048584.785

		

 

		

			 

		

		

			
	
			
				 9.06
			Resignation of Administrative Agent.

		
			 
		

			
	
			
				 (a)
			The Administrative Agent may at any time give notice of its resignation to the Lenders and the Borrower.  Upon receipt of any such notice of resignation, the Required Lenders shall have the right, in consultation with the Borrower, to appoint a successor, which shall be a bank with an office in the United States, or an Affiliate of any such bank with an office in the United States.  If no such successor shall have been so appointed by the Required Lenders and shall have accepted such appointment within 30 days after the retiring Administrative Agent gives notice of its resignation (or such earlier day as shall be agreed by the Required Lenders) (the “Resignation Effective Date”), then the retiring Administrative Agent may (but shall not be obligated to) on behalf of the Lenders, appoint a successor Administrative Agent meeting the qualifications set forth above;  provided that in no event shall any such successor Administrative Agent be a Defaulting Lender.   Whether or not a successor has been appointed, such resignation shall become effective in accordance with such notice on the Resignation Effective Date.

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

			
	
			
				 (c)
			With effect from the Resignation Effective Date or the Removal Effective Date (as applicable) (1) the retiring or removed Administrative Agent shall be discharged from its duties and obligations hereunder and under the other Loan Documents (except that in the case of any collateral security held by the Administrative Agent on behalf of the Lenders under any of the Loan Documents, the retiring or removed Administrative Agent shall continue to hold such collateral security until such time as a successor Administrative Agent is appointed) and (2) except for any indemnity payments or other amounts then owed to the retiring or removed Administrative Agent, all payments, communications and determinations provided to be made by, to or through the Administrative Agent shall instead be made by or to each Lender directly, until such time, if any, as the Required Lenders appoint a successor Administrative Agent as provided for above in this Section 9.06.  Upon the acceptance of a successor’s appointment as Administrative Agent hereunder, such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring (or removed) Administrative Agent, (other than as provided in Section 3.01(g) and other than any rights to indemnity payments or other amounts owed to the retiring or removed Administrative Agent as of the Resignation Effective Date or the Removal Effective Date, as applicable), and the retiring or removed Administrative Agent shall be discharged from all of its duties and obligations hereunder or under the other Loan Documents (if not already discharged therefrom as provided above in this Section).  The fees payable by the Borrower to a successor Administrative Agent shall be the same as those payable to its predecessor unless otherwise agreed between the Borrower and such successor.  After the retiring or removed Administrative Agent’s resignation or removal hereunder and under the other Loan Documents, the provisions of this Article and Section 10.04 shall continue in effect for the benefit of such 

		 

		

			NYDOCS03/1048584.786

		

 

		

			 

		

	retiring or removed Administrative Agent, its sub agents and their respective Related Parties in respect of any actions taken or omitted to be taken by any of them (i) while the retiring or removed Administrative Agent was acting as Administrative Agent and (ii) after such resignation or removal for as long as any of them continues to act in any capacity hereunder or under the other Loan Documents, including (a) acting as collateral agent or otherwise holding any collateral security on behalf of any of the Lenders and (b) in respect of any actions taken in connection with transferring the agency to any successor Administrative Agent.

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

		
			 
		

			
	
			
				 9.08
			No Other Duties, Etc.  Anything herein to the contrary notwithstanding, neither the Bookrunner nor the Arranger 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.

		
			 
		

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

		
			 
		

			
	
			
				 (a)
			file and prove a claim for the whole amount of the principal and interest owing and unpaid in respect of the Loans and all other Obligations that are owing and unpaid and to file such other documents as may be necessary or advisable in order to have the claims of the Lenders and the Administrative Agent (including any claim for the reasonable compensation, expenses, disbursements and advances of the Lenders and the Administrative Agent and their respective agents and counsel and all other amounts due the Lenders and the Administrative Agent under Sections 2.07 and 10.04) allowed in such judicial proceeding; and

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

		
			and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Lender to make such payments to the Administrative Agent and, in the event that the Administrative Agent shall consent to the making of such payments directly to the Lenders, to pay to the Administrative Agent any amount due for the reasonable compensation, expenses, disbursements and advances of the Administrative Agent 

		 

		

			NYDOCS03/1048584.787

		

 

		

			 

		

and its agents and counsel, and any other amounts due the Administrative Agent under Sections 2.07 and 10.04.
		

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

			
	
			
				Article X.
			

MISCELLANEOUS

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

		
			 
		

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

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

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

			
	
			
				 (d)
			reduce the principal of, or the rate or amount of interest specified herein on, any Loan, or (subject to clause (iv) of the second proviso to this Section 10.01) any fees or other amounts payable hereunder or under any other Loan Document, without the written consent of each Lender directly affected thereby; provided, however, that only the consent of the Required Lenders shall be necessary to amend the definition of “Default Rate” or to waive any obligation of the Borrower to pay interest at the Default Rate;

			
	
			
				 (e)
			change Section 2.11 or Section 8.03 in a manner that would alter the pro rata sharing of payments required thereby without the written consent of each Lender; 

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

			
	
			
				 (g)
			change in any way the allocation of any reduction in Commitments and/or prepayments of Loans between (i) the Tranche A-1 Commitments, the Tranche A-2 Commitments and Tranche B Commitments or (ii) the Tranche A-1 Loans, the Tranche A-2 Loans and Tranche B Loans, as applicable, in each case, without consent of the Lenders holding more than 50% of (i) the 

		 

		

			NYDOCS03/1048584.788

		

 

		

			 

		

	Tranche A-1 Commitments or Tranche A-1 Loans, as applicable, (ii) the Tranche A-2 Commitments or Tranche A-2 Loans, as applicable, and (iii) the Tranche B Commitments or Tranche B Loans, as applicable,

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

		
			Notwithstanding the foregoing, in the event that the terms of this Agreement are required to be modified as specified in the applicable provisions of the Fee Letter, then this Agreement may be amended (to the extent not adverse to the interests of the Lenders) by the Administrative Agent and the Borrower without the need to obtain the consent of any Lender; provided however, that if the Borrower shall fail to execute any amendment that the Arranger reasonably determines is necessary to effect the changes contemplated by the Fee Letter within five Business Days from the date of delivery to the Borrower of a draft thereof, then the Administrative Agent is and shall be authorized to execute such amendment on behalf of the Borrower and such amendment shall become effective without further action by any Person.  In furtherance of the foregoing, each of the Borrower and the Administrative Agent agree that it will enter into any amendment to this Agreement requested by the Arranger in compliance with the terms of the Fee Letter.
		

			
	
			
				 10.02
			Notices; Effectiveness; Electronic Communication.

		
			 
		

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

			
	
			
				 (i)
			if to the Borrower or the Administrative Agent, to the address, facsimile number, electronic mail address or telephone number specified for such Person on Schedule 10.02; and

			
	
			
				 (ii)
			if to any other Lender, to the address, facsimile number, electronic mail address or telephone number specified in its Administrative Questionnaire (including, as appropriate, notices delivered solely to the Person designated by a Lender on its 

		 

		

			NYDOCS03/1048584.789

		

 

		

			 

		

	Administrative Questionnaire then in effect for the delivery of notices that may contain material non-public information relating to the Borrower).

		
			Notices and other communications sent by hand or overnight courier service, or mailed by certified or registered mail, shall be deemed to have been given when received; notices and other communications sent by 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).  Notices and other communications delivered through electronic communications to the extent provided in subsection (b) below, shall be effective as provided in such subsection (b).
		

			
	
			
				 (b)
			Electronic Communications.  Notices and other communications to the Lenders hereunder may be delivered or furnished by electronic communication (including e mail, FpML messaging and Internet or intranet websites) pursuant to procedures approved by the Administrative Agent, provided that the foregoing shall not apply to notices to any Lender pursuant to Article II if such Lender has notified the Administrative Agent that it is incapable of receiving notices under such Article by electronic communication.  The Administrative Agent or the Borrower may, in its discretion, agree to accept notices and other communications to it hereunder by electronic communications pursuant to procedures approved by it, provided that approval of such procedures may be limited to particular notices or communications.

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

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

		 

		

			NYDOCS03/1048584.790

		

 

		

			 

		

	Agent Party; provided, however, that in no event shall any Agent Party have any liability to the Borrower, any Lender or any other Person for indirect, special, incidental, consequential or punitive damages (as opposed to direct or actual damages).

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

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

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

		
			 
		

		
			Notwithstanding anything to the contrary contained herein or in any other Loan Document, the authority to enforce rights and remedies hereunder and under the other Loan Documents against the Borrower or any of them shall be vested exclusively in, and all actions and proceedings at law in connection with such enforcement shall be instituted and maintained exclusively by, the 

		 

		

			NYDOCS03/1048584.791

		

 

		

			 

		

Administrative Agent in accordance with Section 8.02 for the benefit of all the Lenders; provided,  however, that the foregoing shall not prohibit (a) the Administrative Agent from exercising on its own behalf the rights and remedies that inure to its benefit (solely in its capacity as Administrative Agent) hereunder and under the other Loan Documents, (b) any Lender from exercising setoff rights in accordance with Section 10.08 (subject to the terms of Section 2.11), or (c) any Lender from filing proofs of claim or appearing and filing pleadings on its own behalf during the pendency of a proceeding relative to the Borrower under any Debtor Relief Law; and provided, further, that if at any time there is no Person acting as Administrative Agent hereunder and under the other Loan Documents, then (i) the Required Lenders shall have the rights otherwise ascribed to the Administrative Agent pursuant to Section 8.02 and (ii) in addition to the matters set forth in clauses (b),  (c) and (d) of the preceding proviso and subject to Section 2.11, any Lender may, with the consent of the Required Lenders, enforce any rights and remedies available to it and as authorized by the Required Lenders.
		

			
	
			
				 10.04
			Expenses; Indemnity; Damage Waiver.

		
			 
		

			
	
			
				 (a)
			Costs and Expenses.  The Borrower shall pay (i) all reasonable and documented out of pocket costs and expenses incurred by the Administrative Agent and its Affiliates (including the reasonable fees, charges and disbursements of counsel for the Administrative Agent and Merrill Lynch, Pierce, Fenner & Smith Incorporated; provided that such counsel’s reasonable fees, charges and disbursements shall be limited to (i) one law firm acting as transaction counsel for the Administrative Agent and Merrill Lynch, Pierce, Fenner & Smith Incorporated and (ii) one law firm acting as special and local counsel in each applicable jurisdiction in which the Administrative Agent reasonably determines such local counsel to be necessary), in connection with the syndication of the credit facilities provided for herein, the preparation, negotiation, execution, delivery and administration of this Agreement and the other Loan Documents or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated) and (ii) all out of pocket expenses incurred by the Administrative Agent or any Lender (including the fees, charges and disbursements of any counsel for the Administrative Agent or any Lender), and shall pay all fees and time charges for attorneys who may be employees of the Administrative Agent or any Lender, in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Section, or (B) in connection with the Loans made hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Loans.

			
	
			
				 (b)
			Indemnification by the Borrower.  The Borrower shall indemnify the Administrative Agent (and any sub-agent thereof) and 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 reasonable fees, charges and disbursements of any counsel for any Indemnitee), and shall jointly and severally indemnify and hold harmless each Indemnitee from all fees and time charges and disbursements for attorneys who may be employees of any Indemnitee, incurred by any Indemnitee or asserted against any Indemnitee by any third party or by the Borrower arising out of, in connection with, or as a result of (i) the execution or delivery of this Agreement, any other Loan Document or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby or, in the case of the 

		 

		

			NYDOCS03/1048584.792

		

 

		

			 

		

	Administrative Agent (and any sub-agent thereof) and its Related Parties only, the administration of this Agreement and the other Loan Documents (including in respect of any matters addressed in Section 3.01), (ii) any Loan or any use made (or proposed to be made) of proceeds therefrom, (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrower or any of its Subsidiaries, or any Environmental Liability related in any way to the Borrower or any of its Subsidiaries, or (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, and regardless of whether any Indemnitee is a party thereto, in all cases, whether or not caused by or arising, in whole or in part, out of the comparative, contributory or sole negligence of the Indemnitee; provided that such indemnity shall not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related expenses (x) are determined by a court of competent jurisdiction by final and nonappealable judgment to have resulted from the gross negligence or willful misconduct of such Indemnitee or (y) result from a claim brought by the Borrower against an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document, if the Borrower has obtained a final and nonappealable judgment in its favor on such claim as determined by a court of competent jurisdiction.

			
	
			
				 (c)
			Reimbursement by Lenders.  To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under subsection (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof) or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent) or such Related Party, as the case may be, such Lender’s pro rata share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s Applicable Percentage at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender), such payment to be made severally among them based on such Lenders’ Applicable Percentage (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought), provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such subagent) in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent) in connection with such capacity.  The obligations of the Lenders under this subsection (c) are subject to the provisions of Section 2.10(d).

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

		 

		

			NYDOCS03/1048584.793

		

 

		

			 

		

	misconduct of such Indemnitee as determined by a final nonappealable judgment of a court of competent jurisdiction.

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

			
	
			
				 (f)
			Survival.  The agreements in this Section and the indemnity provisions of Section 10.02(e) shall survive the resignation of the Administrative Agent, the replacement of any Lender, the termination of the Aggregate Commitments and the repayment, satisfaction or discharge of all the other Obligations.

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

		
			 
		

			
	
			
				 10.06
			Successors and Assigns.

		
			 
		

			
	
			
				 (a)
			Successors and Assigns Generally.  The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns permitted hereby, except that the Borrower may not assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of the Administrative Agent and each Lender and no Lender may assign or otherwise transfer any of its rights or obligations hereunder except (i) to an assignee in accordance with the provisions of subsection (b) of this Section, (ii) by way of participation in accordance with the provisions of subsection (d) of this Section, or (iii) by way of pledge or assignment of a security interest subject to the restrictions of subsection (f) of this Section (and any other attempted assignment or transfer by any party hereto shall be null and void).  Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted hereby, Participants to the extent provided in subsection (d) of this Section and, to the extent expressly contemplated hereby, the Related Parties of each of the Administrative Agent and the Lenders) any legal or equitable right, remedy or claim under or by reason of this Agreement.

			
	
			
				 (b)
			Assignments by Lenders.  Any Lender may at any time assign to one or more assignees all or a portion of its rights and obligations under this Agreement (including all or a 

		 

		

			NYDOCS03/1048584.794

		

 

		

			 

		

	portion of its Commitment and the Loans) at the time owing to it); provided that any such assignment shall be subject to the following conditions:

			
	
			
				 (i)
			Minimum Amounts:

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

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

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

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

			
	
			
				 (A)
			the consent of the Borrower (such consent, after the Target Acquisition Closing Date, not to be unreasonably withheld or delayed) shall be required unless (1) during the Certain Funds Period, a Certain Funds Default has occurred and is continuing, and at any time thereafter, an Event of Default has occurred and is continuing, in each case at the time of such assignment, (2) such assignment is to a Lender (or after the Target Acquisition Closing Date, an Affiliate of a Lender or an Approved Fund) or (3) such assignment occurs after the date on which the primary syndication has been completed but before the Target Acquisition Closing Date, and such assignment is to a commercial or investment bank, in each case, whose senior, unsecured, long term Indebtedness has an “investment grade” rating by S&P and Moody’s,  provided that the Borrower shall be deemed to have consented to any such assignment unless it shall have objected thereto by written notice to the Administrative Agent within ten (10) Business Days after having received notice thereof; and

		
			

		 

		

			NYDOCS03/1048584.795

		

 

		

			 

		

		

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

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

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

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

		
			Subject to acceptance and recording thereof by the Administrative Agent pursuant to subsection (c) of this Section, from and after the effective date specified in each Assignment and Assumption, the assignee thereunder shall be a party to this Agreement and, to the extent of the interest assigned by such Assignment and Assumption, have the rights and obligations of a Lender under this Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its obligations under this Agreement (and, in the case of an Assignment and Assumption covering all of the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto) but shall continue to be entitled to the benefits of Sections 3.01, 3.04, 3.05, and 10.04 with respect to facts and 

		 

		

			NYDOCS03/1048584.796

		

 

		

			 

		

circumstances occurring prior to the effective date of such assignment, provided that, except to the extent otherwise expressly agreed by the affected parties, no assignment by a Defaulting Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender’s having been a Defaulting Lender.  Upon request, the Borrower (at its expense) shall execute and deliver a Note to the assignee Lender.  Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this subsection shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with subsection (d) of this Section.
		

			
	
			
				 (c)
			Register.   The Administrative Agent, acting solely for this purpose as an agent of the Borrower (and such agency being solely for tax purposes), shall maintain at the Administrative Agent’s Office a copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and addresses of the Lenders, and the Commitments of, and principal amounts 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 Borrower, the Administrative Agent and the Lenders may treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary.  In addition, the Administrative Agent shall maintain on the Register information regarding the designation, and revocation of designation, of any Lender as a Defaulting Lender.  The Register shall be available for inspection by the Borrower and any Lender at any reasonable time and from time to time upon reasonable prior notice.  In addition, at any time that a request for a consent for a material or substantive change to the Loan Documents is pending, any Lender wishing to consult with other Lenders in connection therewith may request and receive from the Administrative Agent a copy of the Register.

			
	
			
				 (d)
			Participations.  Any Lender may at any time, without the consent of, or notice to, the Borrower or the Administrative Agent, sell participations to any Person (other than a natural person, or a holding company, investment vehicle or trust for, or owned and operated for the primary benefit of a natural person, a Defaulting Lender or the Borrower or any of the Borrower’s Affiliates or Subsidiaries) (each, a “Participant”) in all or a portion of such Lender’s rights and/or obligations under this Agreement (including all or a portion of its Commitment and/or the Loans 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 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, waiver or other modification described in the first proviso to Section 10.01 that affects such Participant.  The Borrower agrees that each Participant shall be entitled to the benefits of Sections 3.01, 3.04 and 3.05 to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to subsection (b) of this Section (it being understood that the documentation required under Section 3.01(e) shall be delivered to the Lender who sells the participation) to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to paragraph (b) of this Section; provided that such Participant (A) agrees to be subject to the provisions of Sections 3.06 and 10.13 as if it were an assignee under paragraph (b) of this Section and (B) shall not be entitled to receive any greater 

		 

		

			NYDOCS03/1048584.797

		

 

		

			 

		

	payment under Sections 3.01 or 3.04, with respect to any participation, than the Lender from whom it acquired the applicable participation would have been entitled to receive, except to the extent such entitlement to receive a greater payment results from a Change in Law that occurs after the Participant acquired the applicable participation.  Each Lender that sells a participation agrees, at the Borrower’s request and expense, to use reasonable efforts to cooperate with the Borrower to effectuate the provisions of Section 3.06 with respect to any Participant.  To the extent permitted by law, each Participant also shall be entitled to the benefits of Section 10.08 as though it were a Lender, provided that such Participant agrees to be subject to Section 2.11 as though it were a Lender.

			
	
			
				 (e)
			Participant Register.   Each Lender that sells a participation shall, acting solely for this purpose as an agent of the Borrower, maintain a register on which it enters the name and address of each Participant and the principal amounts (and stated interest) of each Participant’s interest in the Loans or other obligations under the Loan Documents (the “Participant Register”); provided that no 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.

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

			
	
			
				 (g)
			Certain Pledges.  Any Lender may at any time, without notice to or consent of any Person, pledge or assign a security interest in all or any portion of its rights under this Agreement (including under its Note(s), if any) to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank; provided that no such pledge or assignment shall release such Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto.

			
	
			
				 10.07
			Treatment of Certain Information; 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 Affiliates and to its and its Affiliates’ respective partners, directors, officers, employees, agents, trustees, advisors and representatives (it being understood that the Persons to whom such disclosure is made will be informed of the confidential nature of such Information and instructed to keep such Information confidential), (b) to the extent 

		 

		

			NYDOCS03/1048584.798

		

 

		

			 

		

	requested by any regulatory authority purporting to have jurisdiction over it (including any self-regulatory authority, such as the National Association of Insurance Commissioners), (c) to the extent required by applicable laws or regulations or by any subpoena or similar legal process, (d) to any other party hereto, (e) in connection with the exercise of any remedies hereunder or under any other Loan Document or any action or proceeding relating to this Agreement or any other Loan Document or the enforcement of rights hereunder or thereunder, (f) subject to an agreement containing provisions substantially the same as those of this Section, to (i) any assignee of or Participant in, or any prospective assignee of or Participant in, any of its rights or obligations under this Agreement or any Eligible Assignee invited to be a Lender pursuant to Section 2.15(a) or (ii) any actual or prospective counterparty (or its advisors) to any swap or derivative transaction relating to the Borrower and its obligations, (g) on a confidential basis to (i) any rating agency in connection with rating the Borrower or its Subsidiaries or the credit facilities provided hereunder or (ii) the CUSIP Service Bureau or any similar agency in connection with the issuance and monitoring of CUSIP numbers or other market identifiers with respect to the credit facilities provided hereunder, (h) with the consent of the Borrower or (i) to the extent such Information (x) is or becomes publicly available other than as a result of a breach of this Section or (y) is or becomes available to the Administrative Agent, any Lender or any of their respective Affiliates on a nonconfidential basis from a source other than the Borrower or any of its Subsidiaries.  In addition, the Administrative Agent and the Lenders may disclose the existence of this Agreement and information about the terms and conditions of this Agreement (excluding, in all cases, information about the present or prospective businesses of the Borrower, the Target and any of their Subsidiaries, including, without limitation, any financial projections related to the Borrower, the Target or any of their subsidiaries) to market data collectors, similar service providers to the lending industry and service providers to the Administrative Agent and the Lenders in connection with the administration of this Agreement, the other Loan Documents and the Commitments.

		
			 
		

		
			For purposes of this Section, “Information” means all information received from the Borrower or any Subsidiary relating to the Borrower or any Subsidiary or any of their respective businesses, other than any such information that is available to the Administrative Agent or any Lender on a nonconfidential basis prior to disclosure by the Borrower or any Subsidiary, provided that, in the case of information received from the Borrower or any Subsidiary after the date hereof, such information is clearly identified at the time of delivery as confidential.  Any Person required to maintain the confidentiality of Information as provided in this Section shall be considered to have complied with its obligation to do so if such Person has exercised the same degree of care to maintain the confidentiality of such Information as such Person would accord to its own confidential information.
		

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

			
	
			
				 10.08
			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 applicable law, to set off and apply any and all deposits (general or special, time or demand, provisional or final, in whatever currency) at any time held and other 

		 

		

			NYDOCS03/1048584.799

		

 

		

			 

		

	obligations (in whatever currency) at any time owing by such Lender or any such Affiliate to or for the credit or the account of the Borrower against any and all of the obligations of the Borrower now or hereafter existing under this Agreement or any other Loan Document to such Lender, irrespective of whether or not such Lender shall have made any demand under this Agreement or any other Loan Document and although such obligations of the Borrower may be contingent or unmatured or are owed to a branch or office of such Lender different from the branch or office holding such deposit or obligated on such indebtedness; provided, that in the event that any Defaulting Lender shall exercise any such right of setoff hereunder, (x) all amounts so set off shall be paid over immediately to the Administrative Agent for further application in accordance with the provisions of Section 2.12 and, pending such payment, shall be segregated by such Defaulting Lender from its other funds and deemed held in trust for the benefit of the Administrative Agent and the Lenders, and (y) the Defaulting Lender shall provide promptly to the Administrative Agent a statement describing in reasonable detail the Obligations owing to such Defaulting Lender as to which it exercised such right of setoff.  The rights of each Lender and its Affiliates under this Section are in addition to other rights and remedies (including other rights of setoff) that such Lender or its Affiliates may have.  Each Lender agrees to notify the Borrower and the Administrative Agent promptly after any such setoff and application, provided that the failure to give such notice shall not affect the validity of such setoff and application.

		
			 
		

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

		
			 
		

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

		
			 
		

			
	
			
				 10.11
			Survival of Representations and Warranties.  All representations and warranties made hereunder and in any other Loan Document or other document delivered pursuant hereto or 

		 

		

			NYDOCS03/1048584.7100

		

 

		

			 

		

	thereto or in connection herewith or therewith shall survive the execution and delivery hereof and thereof.  Such representations and warranties have been or will be relied upon by the Administrative Agent and each Lender, regardless of any investigation made by the Administrative Agent or any Lender or on their behalf and notwithstanding that the Administrative Agent or any Lender may have had notice or knowledge of any Default or Event of Default at the time of any Borrowing, and shall continue in full force and effect as long as any Loan or any other Obligation hereunder shall remain unpaid or unsatisfied.

		
			 
		

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

		
			 
		

			
	
			
				 10.13
			Replacement of Lenders.  If any Lender requests compensation under Section 3.04, or if the Borrower is required to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 3.01, or if any Lender is a Defaulting Lender or a Non-Consenting Lender (as defined below), then the Borrower may, at its sole expense and effort, upon notice to such Lender and the Administrative Agent, require such Lender to assign and delegate, without recourse (in accordance with and subject to the restrictions contained in, and consents required by, Section 10.06), all of its interests, rights and obligations under this Agreement and the related Loan Documents to an assignee that shall assume such obligations (which assignee may be another Lender, if a Lender accepts such assignment), provided that:

		
			 
		

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

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

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

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

		
			

		 

		

			NYDOCS03/1048584.7101

		

 

		

			 

		

		

			
	
			
				 (e)
			with respect to the replacement of a Non-Consenting Lender, such assignment is requested within ninety (90) days of such Lender’s failure to approve the applicable amendment, waiver or consent.

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

		
			For purposes of this Section 10.13, a “Non-Consenting Lender” means a Lender that fails to approve an amendment, waiver or consent requested by the Borrower pursuant to Section 10.01 that has received the written approval of not less than the Required Lenders but also requires the approval of such Lender.
		

			
	
			
				 10.14
			Governing Law; Jurisdiction; Etc. 

		
			 
		

			
	
			
				 (a)
			GOVERNING LAW.  THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

			
	
			
				 (b)
			SUBMISSION TO JURISDICTION.   THE BORROWER IRREVOCABLY AND UNCONDITIONALLY SUBMITS, FOR ITSELF AND ITS PROPERTY, TO THE EXCLUSIVE JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK SITTING IN NEW YORK COUNTY AND OF THE UNITED STATES DISTRICT COURT OF THE SOUTHERN DISTRICT OF NEW YORK, AND ANY APPELLATE COURT FROM ANY THEREOF, IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT, OR FOR RECOGNITION OR ENFORCEMENT OF ANY JUDGMENT, AND EACH OF THE PARTIES HERETO IRREVOCABLY AND UNCONDITIONALLY AGREES THAT ALL CLAIMS IN RESPECT OF ANY SUCH ACTION OR PROCEEDING SHALL BE HEARD AND DETERMINED IN SUCH NEW YORK STATE COURT OR, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, IN SUCH FEDERAL COURT.  EACH OF THE PARTIES HERETO AGREES THAT A FINAL JUDGMENT IN ANY SUCH ACTION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW.  NOTHING IN THIS AGREEMENT OR IN ANY OTHER LOAN DOCUMENT SHALL AFFECT ANY RIGHT THAT THE ADMINISTRATIVE AGENT OR ANY LENDER MAY OTHERWISE HAVE TO BRING ANY ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT AGAINST THE BORROWER OR ITS PROPERTIES IN THE COURTS OF ANY JURISDICTION.

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

		 

		

			NYDOCS03/1048584.7102

		

 

		

			 

		

	BY APPLICABLE LAW, THE DEFENSE OF AN INCONVENIENT FORUM TO THE MAINTENANCE OF SUCH ACTION OR PROCEEDING IN ANY SUCH COURT.

			
	
			
				 (d)
			SERVICE OF PROCESS.  EACH PARTY HERETO IRREVOCABLY CONSENTS TO SERVICE OF PROCESS IN THE MANNER PROVIDED FOR NOTICES IN SECTION 10.02(a).  NOTHING IN THIS AGREEMENT WILL AFFECT THE RIGHT OF ANY PARTY HERETO TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE LAW; PROVIDED, THAT NO ELECTRONIC COMMUNICATION SHALL CONSTITUTE SERVICE OF PROCESS HEREUNDER.

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

		
			 
		

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

		 

		

			NYDOCS03/1048584.7103

		

 

		

			 

		

	breach of agency or fiduciary duty in connection with any aspect of any transaction contemplated hereby.  Nothing contained herein shall relieve any Person of its written contractual obligations under the Loan Documents.

		
			 
		

			
	
			
				 10.17
			USA PATRIOT Act Notice.  Each Lender that is subject to the Act (as hereinafter defined) and the Administrative Agent (for itself and not on behalf of any Lender) hereby notifies the Borrower that pursuant to the requirements of the USA PATRIOT Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)) (the “PATRIOT Act”), it is required to obtain, verify and record information that identifies the Borrower, which information includes the name and address of the Borrower and other information that will allow such Lender or the Administrative Agent, as applicable, to identify the Borrower in accordance with the PATRIOT Act.  The Borrower shall, promptly following a request by the Administrative Agent or any Lender, provide all documentation and other information that the Administrative Agent or such Lender requests in order to comply with its ongoing obligations under applicable “know your customer” and anti-money laundering rules and regulations, including the PATRIOT Act.

		
			 
		

			
	
			
				 10.18
			Judgment Currency.   If, for the purposes of obtaining judgment in any court, it is necessary to convert a sum due hereunder or any other Loan Document in one currency into another currency, the rate of exchange used shall be that at which in accordance with normal banking procedures the Administrative Agent could purchase the first currency with such other currency on the Business Day preceding that on which final judgment is given.  The obligation of the Borrower in respect of any such sum due from it to the Administrative Agent or any Lender hereunder or under the other Loan Documents shall, notwithstanding any judgment in a currency (the “Judgment Currency”) other than that in which such sum is denominated in accordance with the applicable provisions of this Agreement (the “Agreement Currency”), be discharged only to the extent that on the Business Day following receipt by the Administrative Agent or such Lender, as the case may be, of any sum adjudged to be so due in the Judgment Currency, the Administrative Agent or such Lender, as the case may be, may in accordance with normal banking procedures purchase the Agreement Currency with the Judgment Currency.  If the amount of the Agreement Currency so purchased is less than the sum originally due to the Administrative Agent or any Lender from the Borrower in the Agreement Currency, the Borrower agrees, as a separate obligation and notwithstanding any such judgment, to indemnify the Administrative Agent or such Lender, as the case may be, against such loss.  If the amount of the Agreement Currency so purchased is greater than the sum originally due to the Administrative Agent or any Lender in such currency, the Administrative Agent or such Lender, as the case may be, agrees to return the amount of any excess to the Borrower (or to any other Person who may be entitled thereto under applicable law).

		
			 
		

			
	
			
				 10.19
			Electronic Execution of Assignments and Certain Other Documents.  The words “execute,” “execution,” “signed,” “signature,” and words of like import in or related to any document to be signed in connection with this Agreement and the transactions contemplated hereby (including without limitation Assignment and Assumptions, amendments or other modifications, Loan Notices, waivers and consents) shall be deemed to include electronic signatures, the electronic matching of assignment terms and contract formations on electronic platforms approved by the Administrative Agent, or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as 

		 

		

			NYDOCS03/1048584.7104

		

 

		

			 

		

	provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act;  provided that notwithstanding anything contained herein to the contrary, the Administrative Agent is under no obligation to agree to accept electronic signatures in any form or in any format unless expressly agreed to by the Administrative Agent pursuant to procedures approved by it.

		
			 
		

			
	
			
				 10.20
			Acknowledgment and Consent to Bail-In of EEA Financial Institutions.  Solely to the extent any Lender that is an EEA Financial Institution is a party to this Agreement and notwithstanding anything to the contrary in any Loan Document or in any other agreement, arrangement or understanding among any such parties related thereto, each party hereto acknowledges that any liability of any Lender that is an EEA Financial Institution arising under any Loan Document, to the extent such liability is unsecured, may be subject to the Write-down and Conversion Powers of an EEA Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by:

		
			 
		

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

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

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

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

			
	
			
				 (iii)
			the variation of the terms of such liability in connection with the exercise of the Write-Down and Conversion Powers of any EEA Resolution Authority.

		
			[Remainder of page is intentionally left blank; signature pages follow]
		

		
			 
		

		
			

		 

		

			NYDOCS03/1048584.7105

		

 

		

			 

		

		

		
			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.
		

			
					
						 

					
						BORROWER:

					
					
						AVNET, INC.

				
	
					
						 

					
					
						a New York corporation

				
	
					
						 

					
					
						By:_____________________________________

				
	
					
						 

					
					
						Name:

				
	
					
						 

					
					
						Title:

				
	
					
						 

					
					
						 

				
	
					
						 

				
	
					
						 

				

		
			 
		

		

		 

		

			NYDOCS03/1048584.7

		

 

		

			 

		

	
					
						

					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						LENDERS:

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

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						By:

					
					
						 

					
					
						 

				
	
					
						 

					
					
						Name:

					
					
						 

				
	
					
						 

					
					
						Title:

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						BANK OF AMERICA, N.A.,
as Lender

				
	
					
						 

					
					
						By:

					
					
						 

					
					
						 

				
	
					
						 

					
					
						Name:

					
					
						 

				
	
					
						 

					
					
						Title:EX-4.2

 Exhibit 4.2 

EXECUTION VERSION 
 ALLIED SPECIALTY
VEHICLES, INC., 
 THE GUARANTORS PARTIES HERETO 

AND 
 WELLS FARGO BANK, NATIONAL
ASSOCIATION, 
 AS TRUSTEE AND NOTES COLLATERAL AGENT 

8.500% Senior Secured Notes due 2019 

INDENTURE 
 Dated as of
October 21, 2013 

 Table of Contents 

 

							
	 	 	 	  	Page	 
	ARTICLE I	  
	DEFINITIONS AND INCORPORATION BY REFERENCE	  
			
	 SECTION 1.1.
	 	 Definitions
	  	 	1	  
	 SECTION 1.2.
	 	 Other Definitions
	  	 	28	  
	 SECTION 1.3.
	 	 Incorporation by Reference of Trust Indenture Act
	  	 	29	  
	 SECTION 1.4.
	 	 Rules of Construction
	  	 	29	  
	
	 ARTICLE II

THE NOTES
	   
   

			
	 SECTION 2.1.
	 	 Form, Dating and Terms
	  	 	30	  
	 SECTION 2.2.
	 	 Execution and Authentication
	  	 	37	  
	 SECTION 2.3.
	 	 Registrar and Paying Agent
	  	 	38	  
	 SECTION 2.4.
	 	 Paying Agent to Hold Money in Trust
	  	 	38	  
	 SECTION 2.5.
	 	 Holder Lists
	  	 	39	  
	 SECTION 2.6.
	 	 Transfer and Exchange
	  	 	39	  
	 SECTION 2.7.
	 	 [Reserved]
	  	 	41	  
	 SECTION 2.8.
	 	 [Reserved]
	  	 	41	  
	 SECTION 2.9.
	 	 [Reserved]
	  	 	41	  
	 SECTION 2.10.
	 	 Mutilated, Destroyed, Lost or Stolen Notes
	  	 	41	  
	 SECTION 2.11.
	 	 Outstanding Notes
	  	 	42	  
	 SECTION 2.12.
	 	 Temporary Notes
	  	 	42	  
	 SECTION 2.13.
	 	 Cancellation
	  	 	42	  
	 SECTION 2.14.
	 	 Payment of Interest
	  	 	43	  
	 SECTION 2.15.
	 	 Computation of Interest
	  	 	44	  
	 SECTION 2.16.
	 	 CUSIP, Common Code and ISIN Numbers
	  	 	44	  
	
	 ARTICLE III

COVENANTS
	   
   

			
	 SECTION 3.1.
	 	 Payment of Notes
	  	 	44	  
	 SECTION 3.2.
	 	 Incurrence of Indebtedness and Issuance of Disqualified Stock and Preferred Stock
	  	 	44	  
	 SECTION 3.3.
	 	 Restricted Payments
	  	 	48	  
	 SECTION 3.4.
	 	 Dividend and Other Payment Restrictions Affecting Subsidiaries
	  	 	51	  
	 SECTION 3.5.
	 	 Limitation on Sales of Assets and Subsidiary Stock
	  	 	53	  
	 SECTION 3.6.
	 	 Limitation on Liens
	  	 	58	  
	 SECTION 3.7.
	 	 Limitation on Sale and Leaseback Transactions
	  	 	58	  
	 SECTION 3.8.
	 	 Limitation on Affiliate Transactions
	  	 	59	  
	 SECTION 3.9.
	 	 Covenant Suspension
	  	 	60	  
	 SECTION 3.10.
	 	 Change of Control
	  	 	61	  
	 SECTION 3.11.
	 	 Reports
	  	 	63	  
	 SECTION 3.12.
	 	 Future Guarantors
	  	 	64	  
	 SECTION 3.13.
	 	 Maintenance of Office or Agency
	  	 	65	  
	 SECTION 3.14.
	 	 Corporate Existence
	  	 	65	  
	 SECTION 3.15.
	 	 Payment of Taxes
	  	 	65	  
	 SECTION 3.16.
	 	 Payments for Consent
	  	 	65	  
	 SECTION 3.17.
	 	 Compliance Certificate
	  	 	65	  
	 SECTION 3.18.
	 	 [Reserved]
	  	 	66	  
	 SECTION 3.19.
	 	 Designation of Restricted and Unrestricted Subsidiaries
	  	 	66	  
	 SECTION 3.20.
	 	 Stay, Extension and Usury Laws
	  	 	66	  

  
 -i- 

							
	 	 	 	  	Page	 
	 ARTICLE IV

SUCCESSOR COMPANY
	   
   

			
	 SECTION 4.1.
	 	 Merger; Consolidation or Sale of Assets
	  	 	67	  
	
	 ARTICLE V

REDEMPTION AND PREPAYMENT
	   
   

			
	 SECTION 5.1.
	 	 Notices to Trustee
	  	 	69	  
	 SECTION 5.2.
	 	 Selection of Notes to Be Redeemed or Purchased
	  	 	69	  
	 SECTION 5.3.
	 	 Notice of Redemption
	  	 	70	  
	 SECTION 5.4.
	 	 Effect of Notice of Redemption
	  	 	71	  
	 SECTION 5.5.
	 	 Deposit of Redemption or Purchase Price
	  	 	71	  
	 SECTION 5.6.
	 	 Notes Redeemed or Purchased in Part
	  	 	71	  
	 SECTION 5.7.
	 	 Optional Redemption
	  	 	71	  
	 SECTION 5.8.
	 	 Mandatory Redemption
	  	 	72	  
	
	 ARTICLE VI

DEFAULTS AND REMEDIES
	   
   

			
	 SECTION 6.1.
	 	 Events of Default
	  	 	72	  
	 SECTION 6.2.
	 	 Acceleration
	  	 	74	  
	 SECTION 6.3.
	 	 Other Remedies
	  	 	74	  
	 SECTION 6.4.
	 	 Waiver of Past Defaults
	  	 	75	  
	 SECTION 6.5.
	 	 Control by Majority
	  	 	75	  
	 SECTION 6.6.
	 	 Limitation on Suits
	  	 	75	  
	 SECTION 6.7.
	 	 Rights of Holders to Receive Payment
	  	 	75	  
	 SECTION 6.8.
	 	 Collection Suit by Trustee
	  	 	76	  
	 SECTION 6.9.
	 	 Trustee May File Proofs of Claim
	  	 	76	  
	 SECTION 6.10.
	 	 Priorities
	  	 	76	  
	 SECTION 6.11.
	 	 Undertaking for Costs
	  	 	76	  
	
	 ARTICLE VII

TRUSTEE
	   
   

			
	 SECTION 7.1.
	 	 Duties of Trustee
	  	 	77	  
	 SECTION 7.2.
	 	 Rights of Trustee
	  	 	78	  
	 SECTION 7.3.
	 	 Individual Rights of Trustee
	  	 	80	  
	 SECTION 7.4.
	 	 Trustee’s Disclaimer
	  	 	80	  
	 SECTION 7.5.
	 	 Notice of Defaults
	  	 	80	  
	 SECTION 7.6.
	 	 Reports by Trustee to Holders
	  	 	80	  
	 SECTION 7.7.
	 	 Compensation and Indemnity
	  	 	80	  
	 SECTION 7.8.
	 	 Replacement of Trustee
	  	 	81	  
	 SECTION 7.9.
	 	 Successor Trustee by Merger
	  	 	82	  
	 SECTION 7.10.
	 	 Eligibility; Disqualification
	  	 	82	  
	 SECTION 7.11.
	 	 Preferential Collection of Claims Against the Company
	  	 	82	  
	
	ARTICLE VIII	  
	LEGAL DEFEASANCE AND COVENANT DEFEASANCE	  
			
	 SECTION 8.1.
	 	 Option to Effect Legal Defeasance or Covenant Defeasance; Defeasance
	  	 	82	  
	 SECTION 8.2.
	 	 Legal Defeasance and Discharge
	  	 	82	  
	 SECTION 8.3.
	 	 Covenant Defeasance
	  	 	83	  
	 SECTION 8.4.
	 	 Conditions to Legal or Covenant Defeasance
	  	 	83	  

  
 -ii- 

							
	 	 	 	  	Page	 
	 SECTION 8.5.
	 	 Deposited Money and Government Securities to Be Held in Trust; Other Miscellaneous
Provisions
	  	 	84	  
	 SECTION 8.6.
	 	 Repayment to the Company
	  	 	84	  
	 SECTION 8.7.
	 	 Reinstatement
	  	 	84	  
	
	 ARTICLE IX

AMENDMENTS
	   
   

			
	 SECTION 9.1.
	 	 Without Consent of Holders
	  	 	85	  
	 SECTION 9.2.
	 	 With Consent of Holders
	  	 	86	  
	 SECTION 9.3.
	 	 [Reserved]
	  	 	87	  
	 SECTION 9.4.
	 	 Revocation and Effect of Consents and Waivers
	  	 	87	  
	 SECTION 9.5.
	 	 Notation on or Exchange of Notes
	  	 	87	  
	 SECTION 9.6.
	 	 Trustee to Sign Amendments
	  	 	87	  
	
	 ARTICLE X

NOTE GUARANTEE
	   
   

			
	 SECTION 10.1.
	 	 Note Guarantee
	  	 	88	  
	 SECTION 10.2.
	 	 Limitation on Liability; Termination; Release and Discharge
	  	 	89	  
	 SECTION 10.3.
	 	 Right of Contribution
	  	 	90	  
	 SECTION 10.4.
	 	 No Subrogation
	  	 	90	  
	 SECTION 10.5.
	 	 Execution and Delivery of a Note Guarantee
	  	 	90	  
	
	 ARTICLE XI

COLLATERAL AND SECURITY
	   
   

			
	 SECTION 11.1.
	 	 The Collateral
	  	 	91	  
	 SECTION 11.2.
	 	 Further Assurances
	  	 	91	  
	 SECTION 11.3.
	 	 After-Acquired Property
	  	 	92	  
	 SECTION 11.4.
	 	 Impairment of Security Interest by Company or Its Restricted Subsidiaries
	  	 	92	  
	 SECTION 11.5.
	 	 Real Estate Mortgages and Filings
	  	 	92	  
	 SECTION 11.6.
	 	 Release of Liens on the Collateral
	  	 	94	  
	 SECTION 11.7.
	 	 Authorization of Actions to Be Taken by the Trustee or the Notes Collateral Agent Under the
Collateral Documents
	  	 	95	  
	 SECTION 11.8.
	 	 [Reserved]
	  	 	96	  
	 SECTION 11.9.
	 	 Appointment and Authorization of Wells Fargo Bank, National Association, as Notes Collateral
Agent
	  	 	96	  
	
	 ARTICLE XII

SATISFACTION AND DISCHARGE
	   
   

			
	 SECTION 12.1.
	 	 Satisfaction and Discharge
	  	 	97	  
	 SECTION 12.2.
	 	 Application of Trust Money
	  	 	98	  
	
	 ARTICLE XIII

MISCELLANEOUS
	   
   

			
	 SECTION 13.1.
	 	 Notices
	  	 	98	  
	 SECTION 13.2.
	 	 Communication by Holders with Other Holders
	  	 	99	  
	 SECTION 13.3.
	 	 Certificate and Opinion as to Conditions Precedent
	  	 	99	  
	 SECTION 13.4.
	 	 Statements Required in Certificate or Opinion
	  	 	99	  
	 SECTION 13.5.
	 	 USA PATRIOT ACT
	  	 	99	  
	 SECTION 13.6.
	 	 Rules by Trustee
	  	 	100	  
	 SECTION 13.7.
	 	 Business Days
	  	 	100	  

  
 -iii- 

							
	 	 	 	  	Page	 
	 SECTION 13.8.
	 	 GOVERNING LAW
	  	 	100	  
	 SECTION 13.9.
	 	 No Recourse Against Others
	  	 	100	  
	 SECTION 13.10.
	 	 Successors
	  	 	100	  
	 SECTION 13.11.
	 	 Multiple Originals
	  	 	100	  
	 SECTION 13.12.
	 	 Table of Contents; Headings
	  	 	101	  
	 SECTION 13.13.
	 	 WAIVERS OF JURY TRIAL
	  	 	101	  
	 SECTION 13.14.
	 	 Intercreditor Agreement Controls
	  	 	101	  
	 SECTION 13.15.
	 	 Force Majeure
	  	 	101	  
	 SECTION 13.16.
	 	 Severability
	  	 	101	  
			
	 EXHIBIT A
	 	 Form of Initial Note
	  			
			
	 EXHIBIT B
	 	 Form of Notation of Note Guarantee
	  			
			
	 EXHIBIT C
	 	 Form of Indenture Supplement to Add Guarantors
	  			
			
	 EXHIBIT D
	 	 Form of Certificate to be Delivered upon Termination of Restricted Period
	  			
			
	 EXHIBIT E
	 	 Form of Certificate to be Delivered in Connection with Transfers Pursuant to Regulation
S
	  			
			
	 EXHIBIT F
	 	 Form of Junior Lien Intercreditor Agreement
	  			
			
	 SCHEDULE I
	 	 Mortgaged Property
	  			

  
 -iv- 

 INDENTURE dated as of October 21, 2013, among ALLIED SPECIALTY VEHICLES, INC., a Delaware
corporation (the “Company”), THE GUARANTORS (as defined herein) parties hereto and WELLS FARGO BANK, NATIONAL ASSOCIATION, a national banking association, as trustee (the “Trustee”), and Notes Collateral Agent (as
defined herein). 
 Each party agrees as follows for the benefit of the other parties and for the equal and ratable benefit of the Holders
of (i) the Company’s 8.500% Senior Secured Notes due 2019 issued on the date hereof and the guarantees thereof by the Guarantors parties hereto (the “Initial Notes”), and (ii) if and when issued, additional notes,
issued pursuant to Article II and otherwise in compliance with the provisions of this Indenture, having identical terms and conditions as the Notes other than issue date, issue price and the first interest payment date (the
“Additional Notes,” and together with the Initial Notes, the “Notes”): 
 ARTICLE I 

DEFINITIONS AND INCORPORATION BY REFERENCE 

SECTION 1.1. Definitions. 

“ABL Agent” means Deutsche Bank AG New York Branch, acting in its capacity as administrative agent and collateral agent
under the New ABL Revolving Credit Facility, or any successor thereto in such capacity. 
 “ABL Collateral” has the
meaning assigned to the term “Revolving Priority Collateral” in the Intercreditor Agreement. 
 “ABL
Obligations” means (i) Indebtedness outstanding under any Debt Facility that is secured by a Permitted Lien so long as any Liens in respect of such Indebtedness comply with the provisos to clause (1) of the definition of
“Permitted Liens”, and all other Obligations (not constituting Indebtedness) of the Company or any Guarantor under such Debt Facility and (ii) all cash management Obligations and Hedging Obligations owed to an agent, arranger or
lender or other secured party under such Debt Facility (even if the respective agent, arranger or lender or other secured party subsequently ceases to be an agent arranger or lender or other secured party under such Debt Facility for any reason) or
any of their respective affiliates, assigns or successors and more particularly described in the Intercreditor Agreement. 

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

(1) Indebtedness of any other Person existing at the time such other Person is merged with or into or became a Subsidiary of
such specified Person, whether or not such Indebtedness is incurred in connection with, or in contemplation of, such other Person merging with or into, or becoming a Restricted Subsidiary of, such specified Person; and 

(2) Indebtedness secured by a Lien encumbering any asset acquired by such specified Person. 

“Additional Notes” has the meaning set forth in the second introductory paragraph of this Indenture. 

“Affiliate” of any specified Person means any other Person directly or indirectly controlling or controlled by or
under direct or indirect common control with such specified Person. For purposes of this definition, “control,” as used with respect to any Person, means the possession, directly or indirectly, of the power to direct or cause the direction
of the management or policies of such Person, whether through the ownership of voting securities, by agreement or otherwise; provided that beneficial ownership of 10% or more of the Voting Stock of a Person will be deemed to be control. For
purposes of this definition, the terms “controlling,” “controlled by” and “under common control with” have correlative meanings. 

 “Applicable Premium” means, with respect to any Note on any
redemption date, the greater of: 
 (1) 1.0% of the principal amount of the Note; or 

(2) the excess of: 

(a) the present value at such redemption date of (i) the redemption price of the Note at November 1, 2016 (such
redemption price being set forth in the table appearing in Section 5.7(e) plus (ii) all required interest payments due on the Note through November 1, 2016 (excluding accrued but unpaid interest to the redemption date), computed
using a discount rate equal to the Treasury Rate as of such redemption date plus 50 basis points; over 
 (b) the principal
amount of the Note, if greater. 
 “Applicable Procedures” means, with respect to any transfer or exchange of or for
beneficial interests in any Global Note, the rules and procedures of DTC, Euroclear and Clearstream that apply to such transfer or exchange. 

“Asset Acquisition” means: 

(1) an Investment by any specified Person or any of its Restricted Subsidiaries in any other Person if, as a result of such
Investment, such Person shall become a Restricted Subsidiary of such specified Person, or shall be merged with or into such specified Person or any Restricted Subsidiary of such specified Person, or 

(2) the acquisition by any specified Person or any Restricted Subsidiary of such specified Person of all or substantially all
of the assets of any other Person, any division or line of business of any other Person or any operating assets of any other Person, in each case having a Fair Market Value in excess of $1.0 million. 

“Asset Disposition” means: 

(1) the sale, lease, conveyance or other disposition of any assets or rights; provided that the sale, lease, conveyance
or other disposition of all or substantially all of the assets of the Company and its Restricted Subsidiaries taken as a whole will be governed by the provisions of this Indenture described in Section 3.10 and/or the provisions described
in Section 4.1 and not by the provisions described in Section 3.5; and 
 (2) the issuance of Equity
Interests in any of the Company’s Restricted Subsidiaries or the sale of Equity Interests in any of its Restricted Subsidiaries (other than directors’ qualifying shares or nominal shares required to be held by local nationals). 

Notwithstanding the preceding, none of the following items will be deemed to be an Asset Disposition: 

(1) any single transaction or series of related transactions that involves assets having a Fair Market Value of less than $5.0
million; 
 (2) a transfer of assets between or among the Company and its Restricted Subsidiaries; 

(3) an issuance of Equity Interests by a Restricted Subsidiary of the Company to the Company or to a Restricted Subsidiary of
the Company; 
 (4) the sale or lease of inventory, products or accounts receivable in the ordinary course of business; 

(5) the licensing of intellectual property in the ordinary course of business; 

(6) any sale or other disposition of damaged, worn-out or obsolete assets in the ordinary course of business; 

  
 -2- 

 (7) the sale or other disposition of cash or Cash Equivalents; 

(8) a Restricted Payment that does not violate Section 3.3 or a Permitted Investment; 

(9) sales of accounts receivable and related assets of the type specified in the definition of “Qualified Receivables
Transaction” to a Receivables Subsidiary, each for the Fair Market Value thereof, less amounts required to be established as reserves and customary discounts pursuant to contractual agreements with entities that are not Affiliates of the
Company entered into as part of a Qualified Receivables Transaction; 
 (10) transfers of accounts receivable and related
assets of the type specified in the definition of “Qualified Receivables Transaction” (or a fractional undivided interest therein) by a Receivables Subsidiary in a Qualified Receivables Transaction; 

(11) to the extent allowable under Section 1031 of the Code, any exchange of like property (excluding any boot thereon)
for use in a Permitted Business; 
 (12) any issuance or sale of Equity Interests in, or Indebtedness or other securities of,
an Unrestricted Subsidiary, provided that the Company and its Restricted Subsidiaries receive Fair Market Value for such issuance or sale; and 

(13) an Asset Swap effected in compliance with Section 3.5. 

“Asset Swap” means a concurrent purchase and sale or exchange of assets (other than assets constituting Collateral)
used in a Permitted Business between the Company or any of its Restricted Subsidiaries and another Person; provided that any cash received must be applied in accordance with Section 3.5. 

“Attributable Debt” in respect of a sale and leaseback transaction means, at the time of determination, the present
value of the obligation of the lessee for net rental payments during the remaining term of the lease included in such sale and leaseback transaction. Such present value shall be calculated using a discount rate equal to the rate of interest implicit
in such transaction, determined in accordance with GAAP; provided, however, that if such sale and leaseback transaction results in a Capital Lease Obligation, the amount of Indebtedness represented thereby will be determined in
accordance with the definition of “Capital Lease Obligation.” 
 “Bankruptcy Law” means Title 11,
U.S. Code, as amended, or any similar federal or state law for the relief of debtors. 
 “Beneficial Owner”
has the meaning assigned to such term in Rule 13d-3 and Rule 13d-5 under the Exchange Act, except that in calculating the beneficial ownership of any particular “person” (as that term is used in Section 13(d)(3) of the Exchange Act),
such “person” will be deemed to have beneficial ownership of all securities that such “person” has the right to acquire by conversion or exercise of other securities, whether such right is currently exercisable or is exercisable
only after the passage of time. The terms “Beneficially Owns” and “Beneficially Owned” have a corresponding meaning. 

“Board of Directors” means: 

(1) with respect to a corporation, the board of directors of the corporation or any committee thereof duly authorized to act on
behalf of such board; 
 (2) with respect to a partnership, the Board of Directors of the general partner of the partnership;

 (3) with respect to a limited liability company, the managing member or members or any controlling committee of managing
members thereof; and 
 (4) with respect to any other Person, the board or committee of such Person serving a similar
function. 

  
 -3- 

 “Board Resolution” means a copy of a resolution certified by the
Secretary or an Assistant Secretary of a Person to have been duly adopted by the Board of Directors of such Person and to be in full force and effect on the date of such certification, and delivered to the Trustee. 

“Borrowing Base” means, as of the date of determination, an amount equal to the sum, without duplication of: 

(1) 85% of the net book value of the Company’s and its Restricted Subsidiaries’ accounts receivable at such date;

 (2) the lesser of (x) 70% of the net book value of the Company’s and its Restricted Subsidiaries inventory as of
such date and (y) 85% of the appraised net orderly liquidation value of such inventory at such date; and 
 (3) 100% of
qualified cash that is held in a control account with the ABL Agent; 
 all calculated on a consolidated basis in accordance with GAAP and shall be
calculated using amounts reflected on the most recent available balance sheet (it being understood that the accounts receivable and inventories of an acquired business may be included if such acquisition has been completed on or prior to the date of
determination). 
 “Business Day” means each day that is not a Saturday, Sunday or other day on which banking
institutions in New York, New York are authorized or required by law to close. 
 “Calculation Date” means the date
on which the event for which the calculation of the Consolidated First Lien Secured Leverage Ratio, Consolidated Secured Leverage Ratio or the Fixed Charge Coverage Ratio shall occur. 

“Capital Lease Obligation” means, at the time any determination is to be made, the amount of the liability in respect
of a capital lease that would at that time be required to be capitalized on a balance sheet prepared in accordance with GAAP, and the Stated Maturity thereof shall be the date of the last payment of rent or any other amount due under such lease
prior to the first date upon which such lease may be prepaid by the lessee without payment of a penalty. 
 “Capital
Stock” means: 
 (1) in the case of a corporation, corporate stock; 

(2) in the case of an association or business entity, any and all shares, interests, participations, rights or other
equivalents (however designated) of corporate stock; 
 (3) in the case of a partnership or limited liability company,
partnership interests (whether general or limited) or membership interests; and 
 (4) any other interest or participation
that confers on a Person the right to receive a share of the profits and losses of, or distributions of assets of, the issuing Person, but excluding from all of the foregoing any debt securities convertible into Capital Stock, whether or not such
debt securities include any right of participation with Capital Stock. 

  
 -4- 

 “Cash Equivalents” means: 

(1) United States dollars; 

(2) securities issued or directly and fully guaranteed or insured by the United States government or any agency or
instrumentality of the United States government, Canada or any member of the European Union (provided that the full faith and credit of the United States, Canada or such member of the European Union is pledged in support of those securities)
having maturities of not more than twelve months from the date of acquisition; 
 (3) certificates of deposit and Eurodollar
time deposits with maturities of one year or less from the date of acquisition, bankers’ acceptances with maturities not exceeding twelve months from the date of acquisition and overnight bank deposits, in each case, with any lender party to
the New ABL Revolving Credit Facility or with any domestic commercial bank having capital and surplus in excess of $500.0 million and a Thomson Bank Watch Rating of “B” or better; 

(4) repurchase obligations with a term of not more than seven days for underlying securities of the types described in clauses
(2) and (3) above entered into with any financial institution meeting the qualifications specified in clause (3) above; 

(5) commercial paper having one of the two highest ratings obtainable from Moody’s or S&P, in each case, maturing
within twelve months after the date of acquisition; 
 (6) money market funds, substantially all of the assets of which
constitute Cash Equivalents of the kinds described in clauses (1) through (5) of this definition; 
 (7)
instruments equivalent to those referred to in clauses (1) to (6) of this definition denominated in Euros or any other foreign currency comparable in credit quality and tenor to those referred to above and customarily used by corporations
for cash management purposes in any jurisdiction outside the United States to the extent reasonably required in connection with any business conducted by any Restricted Subsidiary organized in such jurisdiction and not for speculative purposes; and

 (8) marketable direct obligations issued by any state of the United States of America or any political subdivision of any
such state or any public instrumentality thereof, in each case maturing within one year after such date and having, at the time of the acquisition thereof, a rating of at least A-1 from S&P or at least P-1 from Moody’s. 

“Change of Control” means the occurrence of any of the following: 

(1) the direct or indirect sale, lease, transfer, conveyance or other disposition (other than by way of merger or
consolidation), in one or a series of related transactions, of all or substantially all of the properties or assets of the Company and its Subsidiaries taken as a whole to any “person” or “group” (as such terms are used in
Section 13(d) or 14(d) of the Exchange Act or any successor provision) other than a Principal or a Related Party of a Principal; 

(2) the adoption of a plan relating to the liquidation or dissolution of the Company; 

(3) the consummation of any transaction (including, without limitation, any merger, consolidation or other business
combination), the result of which is that any “person” or “group” (as defined above), other than the Principals and their Related Parties or a Permitted Group, becomes the Beneficial Owner in a single transaction or a series of
related transactions, directly or indirectly, of more than 50% of the Voting Stock of the Company or any direct or indirect parent of the Company, measured by voting power rather than number of shares; or 

(4) after an initial public offering of Capital Stock of the Company or any direct or indirect parent of the Company, the first
day on which a majority of the members of the Board of Directors of the Company are not Continuing Directors. 

  
 -5- 

 “Closing Date Mortgaged Property” means each real property designated on
Schedule I to this Indenture and more particularly defined in the Mortgage for such real property. 
 “Code”
means the Internal Revenue Code of 1986, as amended from time to time. 
 “Collateral” means all property and
assets, whether now owned or hereafter acquired, in which Liens are, from time to time, purported to be granted to secure the Notes Obligations pursuant to the Collateral Documents. 

“Collateral Documents” means the Mortgages, the Notes Pledge and Security Agreement, security agreements, pledge
agreements, agency agreements, the Intercreditor Agreement, the Junior Lien Intercreditor Agreement and any other intercreditor agreement executed and delivered pursuant to this Indenture, and other instruments and documents executed and delivered
pursuant to this Indenture or any of the foregoing, as the same may be amended, supplemented or otherwise modified from time to time and pursuant to which Collateral is, or is purported to be, pledged, assigned or granted to or on behalf of the
Notes Collateral Agent for the benefit of the Notes Secured Parties or notice of such pledge, assignment or grant is given. 

“Consolidated Cash Flow” means, with respect to any specified Person for any period, the Consolidated Net Income of
such Person for such period plus, without duplication: 
 (1) taxes paid and provision for taxes based on income or profits
of such Person and its Restricted Subsidiaries for such period, to the extent that such taxes or provision for taxes was deducted in computing such Consolidated Net Income; plus 

(2) the Fixed Charges of such Person and its Restricted Subsidiaries for such period, to the extent that such Fixed Charges
were deducted in computing such Consolidated Net Income; plus 
 (3) depreciation, amortization (including
amortization of intangibles and amortization of deferred financing costs (whether or not classified as interest expense, but in each case that has been deducted in computing Consolidated Net Income) but excluding amortization of prepaid cash
expenses that were paid in a prior period) and other non-cash expenses (excluding any such non-cash expense to the extent that it represents an accrual of or reserve for cash expenses in any future period or amortization of a prepaid cash expense
that was paid in a prior period) of such Person and its Restricted Subsidiaries for such period to the extent that such depreciation, amortization and other non-cash expenses were deducted in computing such Consolidated Net Income; plus 

(4) any non-recurring fees, charges or other expenses made or incurred in connection with any acquisition, investment, issuance
of Equity Interest or incurrence or refinancing of Indebtedness (including the Transactions) prior to or after the Issue Date, to the extent deducted in computing Consolidated Net Income; plus 

(5) any other non-recurring fees, charges or other expenses made or incurred in connection with the restructuring charges or
reserves (which, for the avoidance of doubt, shall include retention, severance, systems establishment cost, contract termination costs, including future lease commitments, and costs to consolidate facilities and relocate employees) that were
deducted in computing Consolidated Net Income; provided that the aggregate amount of such non-recurring fees, charges or other expenses added to Consolidated Net Income pursuant to this clause (5) shall not exceed $10.0 million in any
twelve month period; plus 
 (6) any management fees incurred by the Company with respect to such period pursuant to
the Management Agreement, to the extent that such management fees were deducted in computing such Consolidated Net Income; plus 

  
 -6- 

 (7) without duplication, for those fiscal periods completed prior to the Issue
Date, all adjustments to “EBITDA” for such period used to calculate “Adjusted EBITDA” for such period as disclosed in the “Offering Memorandum Summary—Summary Historical and Unaudited Pro Forma Consolidated Financial
and Other Data” section of the Offering Memorandum; minus 
 (8) non-cash items increasing such Consolidated Net
Income for such period, other than the accrual of revenue or the reversal of reserves in the ordinary course of business, 
 in each case, on a consolidated
basis and determined in accordance with GAAP. 
 “Consolidated First Lien Secured Leverage Ratio” means, with
respect to any specified Person on any Calculation Date, the ratio, on a pro forma basis, of (1) the sum of the aggregate outstanding amount of Indebtedness of such Person and its Restricted Subsidiaries secured by a Lien (other than Junior
Lien Indebtedness and any other such Indebtedness in which all Liens on any assets of the Company and the Guarantors are expressly subordinated or junior to the Liens securing the Obligations under the Notes, this Indenture and the Note Guarantees),
determined on a consolidated basis as of the last day of the most recent fiscal quarter for which internal financial statements are available immediately preceding the Calculation Date, to (2) the Consolidated Cash Flow of such Person and its
Restricted Subsidiaries for the most recently ended four fiscal quarters for which internal financial statements are available immediately preceding the Calculation Date. 

For purposes of calculating the Consolidated First Lien Secured Leverage Ratio: 

(1) (A) acquisitions that have been made by the specified Person or any of its Restricted Subsidiaries, including through
mergers or consolidations, or any Person or any of its Restricted Subsidiaries acquired by the specified Person or any of its Restricted Subsidiaries, and including any related financing transactions and including increases in ownership of
Restricted Subsidiaries, (B) discontinued operations (as determined in accordance with GAAP), and (C) operations or businesses (and ownership interests therein) disposed of prior to the Calculation Date, in each case, during the
four-quarter reference period or subsequent to such reference period and on or prior to the Calculation Date will be given pro forma effect (as determined in good faith by the chief financial officer of the Company calculated on a basis that is
consistent with Regulation S-X under the Securities Act of 1933, as amended and including Pro Forma Cost Savings, if applicable) as if they had occurred on the first day of the four-quarter reference period; 

(2) in the event that such Person or any Restricted Subsidiary incurs, assumes, guarantees, redeems, repays, retires or
extinguishes any Indebtedness (other than Indebtedness incurred or repaid under any revolving credit facility in the ordinary course of business for working capital purposes) or issues, redeems, repays or retires Disqualified Stock or Preferred
Stock, in each case, subsequent to the end of the most recent fiscal quarter for which internal financial statements are available but on or prior to or simultaneously with the Calculation Date, then the Consolidated First Lien Secured Leverage
Ratio shall be calculated giving pro forma effect to such incurrence, assumption, guarantee, redemption, repayment, retirement or extinguishment of Indebtedness, or such issuance, redemption, repayment or retirement of Disqualified Stock or
Preferred Stock, as if the same had occurred on the last day of such most recent fiscal quarter; and 
 (3) the U.S.
dollar-equivalent principal amount of any Indebtedness denominated in a foreign currency will reflect the currency translation effects, determined in accordance with GAAP, of Hedging Obligations for currency exchange risks with respect to the
applicable currency in effect on the date of determination of the U.S. dollar equivalent principal amount of such Indebtedness. 

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

(1) the Net Income of any Person that is not a Restricted Subsidiary or that is accounted for by the equity method of
accounting will be included only to the extent of the amount of dividends or similar distributions paid in cash to the specified Person or a Restricted Subsidiary of the Person (and if such Net Income is a loss it will be included only to the extent
that such loss has been funded with cash by the specified Person or a Restricted Subsidiary of the specified Person); 

  
 -7- 

 (2) solely for the purpose of determining the amount available for Restricted
Payments under clause (A) of Section 3.3(a)(iii), the Net Income of any Restricted Subsidiary will be excluded to the extent that the declaration or payment of dividends or similar distributions by that Restricted Subsidiary of that
Net Income is not at the date of determination permitted without any prior governmental approval (that has not been obtained) or, directly or indirectly, by operation of the terms of its charter or any agreement (other than Debt Facilities whose
sole restriction on such declaration or payment occurs only upon the occurrence of or during the existence or continuance of a Default or Event of Default), instrument, judgment, decree, order, statute, rule or governmental regulation applicable to
that Restricted Subsidiary or its stockholders, unless such restriction with respect to the payment of dividends or similar distributions has been legally waived; provided, however, that Consolidated Net Income will be increased by the
amount of dividends or other distributions or other payments actually paid in cash (or to the extent converted into cash) to the Company in such period in lieu of the Net Income of such Restricted Subsidiary that would otherwise be excluded, to the
extent not already included therein; 
 (3) the cumulative effect of a change in accounting principles will be excluded; 

(4) notwithstanding clause (1) above, the Net Income of any Unrestricted Subsidiary will be excluded, whether or not
distributed to the specified Person or one of its Subsidiaries; 
 (5) non-cash compensation charges or other non-cash
expenses or charges arising from the grant of or issuance or repricing of stock, stock options or other equity-based awards to the directors, officers and employees of the Company and its Restricted Subsidiaries will be excluded; 

(6) the after-tax effect of any extraordinary gain or loss will be excluded; 

(7) any net gain (or loss) realized upon sales or other dispositions of any assets of such Person or any of its Restricted
Subsidiaries, other than in the ordinary course of business, will be excluded; 
 (8) any impairment charge or asset
write-off pursuant to Accounting Standards Codification Topic No. 350 and No. 360 and the amortization of intangibles arising pursuant to Accounting Standards Codification Topic No. 805 will be excluded; 

(9) any non-cash Accounting Standards Codification Topic No. 815 income (or loss) related to hedging activities will be
excluded; 
 (10) any inventory purchase accounting adjustments and any increase in amortization or depreciation or other
non-cash charges resulting from the application of purchase accounting in relation to the Transactions or any acquisition that is consummated prior to or after the Issue Date, net of taxes, will be excluded; and 

(11) any net after-tax effect of income (loss) from the early extinguishment or conversion of Indebtedness will be excluded.

 In addition, Consolidated Net Income shall be reduced by the amount of any Tax Payment to the extent Consolidated Net Income is not
already reduced thereby. 

  
 -8- 

 “Consolidated Secured Leverage Ratio” means, with respect to any
specified Person on any Calculation Date, the ratio, on a pro forma basis, of (1) the sum of the aggregate outstanding amount of Indebtedness of such Person and its Restricted Subsidiaries secured by a Lien, determined on a consolidated basis
as of the last day of the most recent fiscal quarter for which internal financial statements are available immediately preceding the Calculation Date, to (2) the Consolidated Cash Flow of such Person and its Restricted Subsidiaries for the most
recently ended four fiscal quarters for which internal financial statements are available immediately preceding the Calculation Date. For purposes of calculating the Consolidated Secured Leverage Ratio: 

(1) (A) acquisitions that have been made by the specified Person or any of its Restricted Subsidiaries, including through
mergers or consolidations, or any Person or any of its Restricted Subsidiaries acquired by the specified Person or any of its Restricted Subsidiaries, and including any related financing transactions and including increases in ownership of
Restricted Subsidiaries, (B) discontinued operations (as determined in accordance with GAAP), and (C) operations or businesses (and ownership interests therein) disposed of prior to the Calculation Date, in each case, during the
four-quarter reference period or subsequent to such reference period and on or prior to the Calculation Date will be given pro forma effect (as determined in good faith by the chief financial officer of the Company calculated on a basis that is
consistent with Regulation S-X under the Securities Act of 1933, as amended and including Pro Forma Cost Savings, if applicable) as if they had occurred on the first day of the four-quarter reference period; 

(2) in the event that such Person or any Restricted Subsidiary incurs, assumes, guarantees, redeems, repays, retires or
extinguishes any Indebtedness (other than Indebtedness incurred or repaid under any revolving credit facility in the ordinary course of business for working capital purposes) or issues, redeems, repays or retires Disqualified Stock or Preferred
Stock, in each case, subsequent to the end of the most recent fiscal quarter for which internal financial statements are available but on or prior to or simultaneously with the Calculation Date, then the Consolidated Secured Leverage Ratio shall be
calculated giving pro forma effect to such incurrence, assumption, guarantee, redemption, repayment, retirement or extinguishment of Indebtedness, or such issuance, redemption, repayment or retirement of Disqualified Stock or Preferred Stock, as if
the same had occurred on the last day of such most recent fiscal quarter; and 
 (3) the U.S. dollar equivalent principal
amount of any Indebtedness denominated in a foreign currency will reflect the currency translation effects, determined in accordance with GAAP, of Hedging Obligations for currency exchange risks with respect to the applicable currency in effect on
the date of determination of the U.S. dollar equivalent principal amount of such Indebtedness. 
 “Continuing
Directors” means, as of any date of determination, any member of the Board of Directors of the Company who: 

(1) was a member of such Board of Directors on the Issue Date; or 

(2) was nominated for election or elected to such Board of Directors by the Principals or a Related Party of the Principals or
with the approval of a majority of the Continuing Directors who were members of such Board of Directors at the time of such nomination or election. 

“Dealer” means any Person that has entered into a dealer sales and service agreement or other similar agreement with
the Company or any of its Subsidiaries. 
 “Debt Facility” or “Debt Facilities” means, with
respect to the Company or any of its Restricted Subsidiaries, one or more debt facilities (including, without limitation, the New ABL Revolving Credit Facility) or commercial paper facilities with banks or other lenders providing for revolving
credit loans, term loans, receivables financing (including through the sale of receivables to such lenders or to special purpose entities formed to borrow from such lenders against such receivables), letters of credit, or bankers’ acceptances
or issuances of debt securities evidenced by notes, debentures, bonds or similar instruments, in each case, as amended, restated, supplemented, modified, renewed, refunded, replaced or refinanced (including by means of sales of debt securities to
institutional investors) in whole or in part from time to time (and whether or not with the original trustee, administrative agent, holders and lenders or another trustee, administrative agent or agents or other holders or lenders and whether
provided under the New ABL Revolving Credit Facility or any other credit agreement or other agreement or indenture). 

“Default” means any event that is, or with the passage of time or the giving of notice or both would be, an Event of
Default. 
 “Definitive Notes” means certificated Notes registered in the name of the Holder thereof and issued in
accordance with Section 2.6 hereof, substantially in the form of Exhibit A hereto, except that such Note shall not bear the Global Note Legend and shall not have the “Schedule of Increases or Decreases in Global
Security” attached thereto. 

  
 -9- 

 “Designated Non-cash Consideration” means the Fair Market Value of
non-cash consideration received by the Company or a Restricted Subsidiary in connection with an Asset Disposition that is so designated as Designated Non-cash Consideration pursuant to an Officer’s Certificate, setting forth the basis of such
valuation, less the amount of Cash Equivalents received in connection with a subsequent sale of such Designated Non-cash Consideration. 

“Disqualified Stock” means any Capital Stock that, by its terms (or by the terms of any security into which it is
convertible, or for which it is exchangeable, in each case, at the option of the holder of the Capital Stock), or upon the happening of any event, matures or is mandatorily redeemable, pursuant to a sinking fund obligation or otherwise, or
redeemable at the option of the holder of the Capital Stock, in whole or in part, on or prior to the date that is 91 days after the date on which the Notes mature. Notwithstanding the preceding sentence, any Capital Stock that would constitute
Disqualified Stock solely because the holders of the Capital Stock have the right to require the Company to repurchase such Capital Stock upon the occurrence of a change of control or an asset sale will not constitute Disqualified Stock if the terms
of such Capital Stock provide that the Company may not repurchase or redeem any such Capital Stock pursuant to such provisions unless such repurchase or redemption complies with Section 3.3 hereof. The amount of Disqualified Stock deemed to
be outstanding at any time for purposes of this Indenture will be the maximum amount that the Company and its Restricted Subsidiaries may become obligated to pay upon the maturity of, or pursuant to any mandatory redemption provisions of, such
Disqualified Stock, exclusive of accrued dividends. 
 “Domestic Subsidiary” means any Restricted Subsidiary
of the Company that was formed under the laws of the United States or any state of the United States or the District of Columbia. 

“DTC” means The Depository Trust Company, its nominees and their respective successors and assigns, or such other
depository institution hereinafter appointed by the Company. 
 “Equity Interests” means Capital Stock and all
warrants, options or other rights to acquire Capital Stock (but excluding any debt security that is convertible into, or exchangeable for, Capital Stock). 

“Equity Offering” means an offering or sale of Equity Interests (other than Disqualified Stock) of the Company or any
Parent (whether offered or sold independently or as part of an offering or sale of units), other than: 
 (1) public
offerings with respect to the Company’s common stock registered on Form S-4 or Form S-8; and 
 (2) issuances to any
Subsidiary of the Company. 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules
and regulations of the SEC promulgated thereunder. 
 “Excluded Assets” has the meaning assigned to such term in the
Notes Pledge and Security Agreement. 
 “Excluded Subsidiaries” means (i) any direct or indirect Foreign
Subsidiary of the Company; (ii) any Domestic Subsidiary that is treated as a partnership or a disregarded entity for U.S. income tax purposes that has no material assets other than the equity (as determined for U.S. income tax purposes) of one
or more direct or indirect Foreign Subsidiaries of the Company; (iii) any Domestic Subsidiary of a Foreign Subsidiary (other than a Foreign Subsidiary that is disregarded as a separate entity for U.S. tax purposes) and (iv) any Subsidiary
of a Person described in the foregoing (i), (ii) or (iii). 
 “Existing Indebtedness” means indebtedness
of the Company and its Subsidiaries (other than Indebtedness under the New ABL Revolving Credit Facility or the Notes) in existence on the Issue Date, until such amounts are repaid. 

  
 -10- 

 “Fair Market Value” means the value that would be paid by a willing buyer
to an unaffiliated willing seller in a transaction not involving distress or necessity of either party, and, in the case of any transaction involving aggregate consideration in excess of $10.0 million, as determined in good faith by the Board of
Directors of the Company and set forth in an Officer’s Certificate delivered to the Trustee (unless otherwise expressly provided in this Indenture). 

“Fixed Charge Coverage Ratio” means with respect to any specified Person for any period, the ratio of the Consolidated
Cash Flow of such Person for such period to the Fixed Charges of such Person for such period. In the event that the specified Person or any of its Restricted Subsidiaries incurs, assumes, guarantees, repays, repurchases, redeems, defeases or
otherwise discharges any Indebtedness (other than ordinary working capital borrowings unless such Indebtedness has been permanently repaid and has not been replaced) or issues, repurchases or redeems Preferred Stock subsequent to the commencement of
the period for which the Fixed Charge Coverage Ratio is being calculated and on or prior to the Calculation Date, then the Fixed Charge Coverage Ratio will be calculated giving pro forma effect to such incurrence, assumption, guarantee, repayment,
repurchase, redemption, defeasance or other discharge of Indebtedness, or such issuance, repurchase or redemption of Preferred Stock, and the use of the proceeds therefrom, as if the same had occurred at the beginning of the applicable four-quarter
reference period. 
 In addition, for purposes of calculating the Fixed Charge Coverage Ratio: 

(1) acquisitions that have been made by the specified Person or any of its Restricted Subsidiaries, including through mergers
or consolidations, or any Person or any of its Restricted Subsidiaries acquired by the specified Person or any of its Restricted Subsidiaries, and including any related financing transactions and including increases in ownership of Restricted
Subsidiaries, during the four-quarter reference period or subsequent to such reference period and on or prior to the Calculation Date will be given pro forma effect all as determined in good faith by the chief financial officer of the Company
(calculated on a basis that is consistent with Regulation S-X under the Securities Act of 1933, as amended and including Pro Forma Cost Savings, if applicable) as if they had occurred on the first day of the four-quarter reference period; 

(2) the Consolidated Cash Flow attributable to discontinued operations, as determined in accordance with GAAP, and operations
or businesses (and ownership interests therein) disposed of prior to the Calculation Date, will be excluded; 
 (3) the Fixed
Charges attributable to discontinued operations, as determined in accordance with GAAP, and operations or businesses (and ownership interests therein) disposed of prior to the Calculation Date, will be excluded, but only to the extent that the
obligations giving rise to such Fixed Charges will not be obligations of the specified Person or any of its Restricted Subsidiaries following the Calculation Date; and 

(4) if any Indebtedness bears a floating rate of interest, the interest expense on such Indebtedness will be calculated as if
the rate in effect on the Calculation Date had been the applicable rate for the entire period (taking into account any Hedging Obligation applicable to such Indebtedness). 

“Fixed Charges” means, with respect to any specified Person for any period, the sum, without duplication, of: 

(1) the consolidated interest expense of such Person and its Restricted Subsidiaries for such period, whether paid or accrued,
including, without limitation, amortization of debt issuance cost and original issue discount, non-cash interest payments, the interest component of any deferred payment obligations, the interest component of all payments associated with Capital
Lease Obligations, imputed interest with respect to Attributable Debt, commissions, discounts and other fees and charges incurred in respect of letter of credit or bankers’ acceptance financings, and net of the effect of all payments made or
received pursuant to Hedging Obligations in respect of interest rates; plus 

  
 -11- 

 (2) the consolidated interest expense of such Person and its Restricted
Subsidiaries that was capitalized during such period; plus 
 (3) any interest on Indebtedness of another Person that
is guaranteed by such Person or one of its Restricted Subsidiaries or secured by a Lien on assets of such Person or one of its Restricted Subsidiaries, whether or not such guarantee or Lien is called upon; plus 

(4) the product of (a) all dividends, whether paid or accrued and whether or not in cash, on any series of Preferred Stock
of such Person or any of its Restricted Subsidiaries, other than dividends on Equity Interests payable solely in Equity Interests of such Person (other than Disqualified Stock) or to such Person or a Restricted Subsidiary of such Person, times
(b) a fraction, the numerator of which is one and the denominator of which is one minus the then current combined federal, state and local statutory tax rate of such Person, expressed as a decimal, in each case, determined on a consolidated
basis in accordance with GAAP; minus 
 (5) non-cash interest expense and amortization/accretion of original issue
discount (including any original issue discount created by fair value adjustments to Indebtedness of such Person or any of its Restricted Subsidiaries as a result of purchase accounting); minus 

(6) the amortization and write-off of deferred financing costs of Indebtedness. 

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

“GAAP” means (1) generally accepted accounting principles in the United States of America which are in effect on
the Issue Date or (2) after the Issue Date, if elected by the Company by written notice to the Trustee in connection with the delivery of financial statements and information, the accounting standards and interpretations
(“IFRS”) adopted by the International Accounting Standard Board, as in effect on the first date of the period for which the Company is making such election; provided that (a) any such election once made shall be
irrevocable, (b) all financial statements and reports required to be provided after such election pursuant to this Indenture shall be prepared on the basis of IFRS, (c) from and after such election, all ratios, computations and other
determinations based on GAAP contained in this Indenture shall be computed in conformity with IFRS, and (d) in connection with the delivery of financial statements (x) for any of its first three financial quarters of any fiscal year, it
shall restate its consolidated interim financial statements for such interim financial period and the comparable period in the prior year to the extent previously prepared in accordance with GAAP as in effect on the Issue Date and (y) for
delivery of audited annual financial information, it shall provide consolidated historical financial statements prepared in accordance with IFRS for the prior most recent fiscal year to the extent previously prepared in accordance with GAAP as in
effect on the Issue Date. For purposes of this Indenture, the term “consolidated” with respect to any Person means such Person consolidated with its Restricted Subsidiaries and does not include any Unrestricted Subsidiaries. 

“Global Note Legend” means the legend set forth in Section 2.1(d)(3) hereof, which is required to be
placed on all Global Notes issued under this Indenture. 
 “Government Securities” means securities that are: 

(1) direct obligations of the United States of America for the timely payment of which its full faith and credit is pledged; or

 (2) obligations of a Person controlled or supervised by and acting as an agency or instrumentality of the United States of
America the timely payment of which is unconditionally guaranteed as a full faith and credit obligation by the United States of America, which, in either case, are not callable or redeemable at the option of the issuers thereof, and shall also
include a depository receipt issued by a bank (as defined in Section 3(a)(2) of the Securities Act), as custodian with respect to any such Government Securities or a specific payment of principal of or interest on any such Government Securities
held by such custodian for the account of the holder of such depository receipt; provided that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depository receipt
from any amount received by the custodian in respect of the Government Securities or the specific payment of principal of or interest on the Government Securities evidenced by such depository receipt. 

  
 -12- 

 “Grantors” has the meaning assigned to such term in the Notes Pledge and
Security Agreement. 
 “guarantee” means a guarantee other than by endorsement of negotiable instruments for
collection in the ordinary course of business, direct or indirect, in any manner including, without limitation, by way of a pledge of assets or through letters of credit or reimbursement agreements in respect thereof, of all or any part of any
Indebtedness (whether arising by virtue of partnership arrangements, or by agreements to keep-well, to purchase assets, goods, securities or services, to take or pay or to maintain financial statement conditions or otherwise). 

“Guarantor” means: 

(1) each Wholly Owned Domestic Subsidiary of the Company, other than any Excluded Subsidiary, on the Issue Date; and 

(2) any other Restricted Subsidiary of the Company that executes a Note Guarantee in accordance with the provisions of this
Indenture, 
 and their respective successors and assigns, in each case, until the Note Guarantee of such Person has been released in
accordance with the provisions of this Indenture. 
 “Hedging Obligation” means, with respect to any specified
Person, the obligations of such Person under: 
 (1) interest rate swap agreements (whether from fixed to floating or from
floating to fixed), interest rate cap agreements and interest rate collar agreements, in each case, designed to manage interest rates or interest rate risk; 

(2) other agreements or arrangements designed to manage interest rates or interest rate risk; and 

(3) other agreements or arrangements designed to protect such Person against fluctuations in currency exchange rates or
commodity prices. 
 “Holder” means a person in whose name a Note is registered. 

“Immaterial Subsidiary” means, as of any date, any Restricted Subsidiary whose Total Assets, as of that date, are less
than 1.5% of the Total Assets of the Company and the Restricted Subsidiaries (taken as a whole) and whose total revenues for the most recent twelve-month period do not exceed 1.5% of the total revenues of the Company and the Restricted Subsidiaries
(taken as a whole); provided that a Restricted Subsidiary will not be considered an Immaterial Subsidiary if it, as of any date, together with all other Immaterial Subsidiaries, has Total Assets as of such date in excess of 3.0% of the Total
Assets of the Company and the Restricted Subsidiaries (taken as a whole) or has total revenues for the most recent twelve-month period in excess of 3.0% of the total revenues of the Company and the Restricted Subsidiaries (taken as a whole). 

“Indebtedness” means, with respect to any specified Person, any indebtedness of such Person (excluding accrued
expenses and trade payables), whether or not contingent: 
 (1) in respect of borrowed money; 

(2) evidenced by bonds, notes, debentures or similar instruments or letters of credit (or reimbursement agreements in respect
thereof); 
 (3) in respect of banker’s acceptances; 

  
 -13- 

 (4) representing Capital Lease Obligations or Attributable Debt in respect of
sale and leaseback transactions; 
 (5) representing the balance deferred and unpaid of the purchase price of any property or
services due more than six months after such property is acquired or such services are completed, except any such balance that constitutes an accrued expense or trade payable; or 

(6) representing any Hedging Obligations, if and to the extent any of the preceding items (other than letters of credit,
Attributable Debt and Hedging Obligations) would appear as a liability upon a balance sheet of the specified Person prepared in accordance with GAAP. In addition, the term “Indebtedness” includes all Indebtedness of others secured by a
Lien on any asset of the specified Person (whether or not such Indebtedness is assumed by the specified Person) and, to the extent not otherwise included, the guarantee by the specified Person of any Indebtedness of any other Person. For the
avoidance of doubt, representations, warranties, covenants, indemnities, reimbursement obligations and repurchase obligations of the Company or its Restricted Subsidiaries and any guarantees thereof incurred in connection with floorplan financing
arrangements, other similar retail financing arrangements and Qualified Receivables Transactions shall not constitute Indebtedness for purposes of this Indenture. 

“Indenture” means this Indenture, as amended or supplemented from time to time. 

“Initial Notes” has the meaning ascribed to it in the second introductory paragraph of this Indenture. 

“Initial Purchasers” means, collectively, Deutsche Bank Securities Inc., Morgan Stanley & Co. LLC and
Goldman, Sachs & Co. 
 “Intercreditor Agreement” means the Intercreditor Agreement to be entered into
among the Company, the Guarantors, the Notes Collateral Agent, on behalf of itself, the Trustee, the Holders and the holders of certain Pari Passu Lien Indebtedness, and the ABL Agent, on behalf of itself and the holders of the ABL Obligations and
thereafter joined by any other representative of any Pari Passu Lien Indebtedness on behalf of the holders thereof, as the same may be amended, restated, supplemented or otherwise modified from time to time. 

“Investment” means, with respect to any Person, all direct or indirect investments by such Person in other Persons
(including Affiliates) in the forms of loans (including guarantees or other obligations), advances or capital contributions (excluding commission, travel and similar advances to officers and employees made in the ordinary course of business),
purchases or other acquisitions for consideration of Indebtedness, Equity Interests or other securities, together with all items that are or would be classified as investments on a balance sheet prepared in accordance with GAAP. If the Company or
any Subsidiary of the Company sells or otherwise disposes of any Equity Interests of any direct or indirect Subsidiary of the Company such that, after giving effect to any such sale or disposition, such Person is no longer a Subsidiary of the
Company, the Company will be deemed to have made an Investment on the date of any such sale or disposition equal to the Fair Market Value of the Company’s Investments in such Subsidiary that were not sold or disposed of in an amount determined
as provided in Section 3.3(c) hereof, The acquisition by the Company or any Subsidiary of the Company of a Person that holds an Investment in a third Person will be deemed to be an Investment by the Company or such Subsidiary in such
third Person in an amount equal to the Fair Market Value of the Investments held by the acquired Person in such third Person in an amount determined as provided in Section 3.3(c) hereof. Except as otherwise provided in this Indenture,
the amount of any Investment outstanding at any time shall be the original cost of such Investment, reduced (at the Company’s option) by any dividend, distribution, interest payment, return of capital, repayment or other amount or value
received in respect of such Investment. 
 “Investment Grade Rating” means a rating equal to or higher than Baa3 (or
the equivalent) by Moody’s and BBB- (or the equivalent) by S&P), or an equivalent rating by any other Rating Agency. 

“Issue Date” means the date on which the Initial Notes are issued. 

  
 -14- 

 “Junior Lien Indebtedness” means any Secured Indebtedness that is
permitted to be incurred pursuant to clause (12)(ii) of the definition of “Permitted Liens” and the covenant described under Section 3.2 hereof, and that is secured by a Lien on the Collateral junior in priority to the
Lien on the Collateral securing the Notes Obligations, all amounts owing pursuant to the terms of such indebtedness, including, without limitation, the obligation (including guarantee obligations) to pay principal, interest (including interest that
accrues after the commencement of a case under Bankruptcy Law, as amended or any similar federal or state law for the relief of debtors, regardless of whether such interest is an allowed claim under such case), letter of credit commissions,
reimbursement obligations, charges, expenses, fees, attorneys costs, indemnities and other amounts payable by the Company under any promissory notes, indentures, collateral documents or other operative agreements evidencing or governing such
indebtedness; provided that the holders of such Junior Lien Indebtedness (or their authorized representatives, on their behalf) shall be a party to or otherwise bound by the Junior Lien Intercreditor Agreement. 

“Junior Lien Intercreditor Agreement” means an intercreditor agreement to be entered into among the Company, the
Guarantors, the Notes Collateral Agent, on behalf of itself, the Trustee, the Holders and the holders of certain Pari Passu Lien Indebtedness, and the applicable agents or trustees, on behalf of themselves and holders of Junior Lien Indebtedness, in
substantially the form attached as Exhibit F to this Indenture, as such form may be amended, restated, supplemented or otherwise modified from time to time. 

“Lien” means, with respect to any asset, any mortgage, lien, pledge, charge, security interest or encumbrance of any
kind in respect of such asset, whether or not filed, recorded or otherwise perfected under applicable law, including any conditional sale or other title retention agreement, any lease in the nature thereof, any option or other agreement to sell or
give a security interest in and any filing of or agreement to give any financing statement under the Uniform Commercial Code (or equivalent statutes) of any jurisdiction. 

“Management Agreement” means the Management Agreement, in effect on the Issue Date among the Company and AIP IV, LLC
or any amendment, restatement or replacement thereof to the extent that the terms of any such amendment, restatement or replacement are not, taken as a whole, disadvantageous to the Holders in any material respect, as determined in good faith by the
Board of Directors of the Company. 
 “Moody’s” means Moody’s Investors Service, Inc. 

“Mortgaged Property” means (i) the Closing Date Mortgaged Property and (ii) each real property encumbered by
a Mortgage delivered after the date hereof, if any, pursuant to this Indenture. 
 “Net Award” means any awards or
proceeds in respect of any condemnation or other eminent domain proceeding relating to any Notes Collateral. 
 “Net
Income” means, with respect to any specified Person, the net income (loss) of such Person, determined in accordance with GAAP and before any reduction in respect of Preferred Stock dividends, excluding, however: 

(1) any gain or loss, together with any related provision for taxes on such gain or loss, realized in connection with: 

(a) any Asset Disposition; or 

(b) the disposition of any securities by such Person or any of its Restricted Subsidiaries or the extinguishment of any
Indebtedness of such Person or any of its Restricted Subsidiaries; and 
 (2) any extraordinary gain or loss, together with
any related provision for taxes on such extraordinary gain or loss. 
 “Net Insurance Proceeds” means any awards or
proceeds in respect of any casualty insurance or title insurance claim relating to any Notes Collateral. 

  
 -15- 

 “Net Proceeds” means the aggregate cash proceeds received by the Company
or any of its Restricted Subsidiaries in respect of any Asset Disposition (including, without limitation, any cash received upon the sale or other disposition of any non-cash consideration received in any Asset Disposition), net of the direct costs
relating to such Asset Disposition, including, without limitation, legal, accounting and investment banking fees, and sales commissions, and any relocation expenses incurred as a result of the Asset Disposition, taxes paid or payable as a result of
the Asset Disposition or as a result of any transactions occurring or deemed to occur in connection with a prepayment hereunder, in each case, after taking into account any available tax credits or deductions and any tax sharing arrangements, and
all payments made on any Indebtedness that is secured by any assets subject to such Asset Disposition, in accordance with the terms of any Lien upon such assets, or that must by its terms, or in order to obtain a necessary consent to such Asset
Disposition, or by applicable law, be repaid out of the proceeds from such Asset Disposition and any reserve for adjustment in respect of the sale price of such asset or assets established in accordance with GAAP. 

“New ABL Revolving Credit Facility” means the Credit Agreement, dated as of October 21, 2013, among the Company,
the Subsidiaries of the Company that borrow or guarantee obligations under such agreement from time to time, the lenders parties thereto from time to time, and the ABL Agent, together with related notes, letters of credit, guarantees and security
documents, and as it may be amended, restated, amended and restated, supplemented or modified from time to time and any renewal, increase, extension, refunding, restructuring, replacement or refinancing thereof (whether with the original
administrative agent and lenders or another administrative agent, collateral agent or agents or one or more other lenders and whether provided under the original New ABL Revolving Credit Facility or one or more other credit or other agreements or
indentures). 
 “Non-Recourse Debt” means Indebtedness: 

(1) as to which neither the Company nor any of its Restricted Subsidiaries (a) provides credit support of any kind
(including any undertaking, agreement or instrument that would constitute Indebtedness), (b) is directly or indirectly liable as a guarantor or otherwise, or (c) constitutes the lender, except, in each case, to the extent constituting
(i) a Restricted Payment that does not violate Section 3.3 hereof or (ii) a Permitted Investment; 
 (2) no
default with respect to which (including any rights that the holders of the Indebtedness may have to take enforcement action against an Unrestricted Subsidiary) would permit upon notice, lapse of time or both any holder of any other Indebtedness
(other than the Notes) of the Company or any of its Restricted Subsidiaries to declare a default on such other Indebtedness or cause the payment of the Indebtedness to be accelerated or payable prior to its Stated Maturity; and 

(3) as to which the lenders have been notified in writing that they will not have any recourse to the stock or assets of the
Company or any of its Restricted Subsidiaries. 
 “Non-U.S. Person” means a Person who is not a U.S. Person (as
defined in Regulation S). 
 “Note” has the meaning ascribed to it in the second introductory paragraph of this
Indenture. 
 “Notes Documents” means, collectively, this Indenture, the Notes, the Note Guarantees and the
Collateral Documents. 
 “Note Guarantee” means the guarantee by each Guarantor of the Company’s obligations
under this Indenture and the Notes, executed pursuant to the provisions of this Indenture. 
 “Notes Collateral” has
the meaning assigned to the term “Notes Priority Collateral” in the Intercreditor Agreement. 
 “Notes Collateral
Agent” means Wells Fargo Bank, National Association, acting in its capacity as collateral agent under the Collateral Documents, or any successor thereto. 

  
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 “Notes Custodian” means the custodian with respect to the Global Note (as
appointed by DTC), or any successor Person thereto and shall initially be the Trustee. 
 “Notes Obligations” means,
collectively, the Obligations of the Company and the Guarantors, as applicable, under the Notes, this Indenture, the Note Guarantees and the Collateral Documents. 

“Notes Pledge and Security Agreement” means the Pledge and Security Agreement dated as of October 21, 2013 among
the Notes Collateral Agent, the Company and the other Grantors from time to time party thereto, as amended, restated, supplemented or otherwise modified from time to time. 

“Notes Secured Parties” means, collectively, the Trustee, the Notes Collateral Agent and the Holders. 

“Obligations” means all principal, premium, interest (including any interest, fees and expenses accruing subsequent to
the filing of a petition in bankruptcy, reorganization or similar proceeding at the rate provided for in the documentation with respect thereto, whether or not such interest, fees or expenses are an allowed or allowable claim under any such
proceeding or under applicable state, federal or foreign law), penalties, fees, indemnifications, reimbursements (including reimbursement obligations with respect to letters of credit and banker’s acceptances), damages and other liabilities,
and guarantees of payment of such principal, premium, interest, penalties, fees, indemnifications, reimbursements, damages and other liabilities, payable under the documentation governing any Indebtedness. 

“Offering Memorandum” means that certain offering memorandum dated October 16, 2013 relating to the
Company’s $200,000,000 aggregate principal amount of 8.500% Senior Secured Notes due 2019. 
 “Officer” means
anyone of the Chairman of the Board, the Chief Executive Officer, the President, the Chief Financial Officer, the Chief Operating Officer, any Vice President, the Treasurer, the Secretary or the Controller of the Company. 

“Officer’s Certificate” means a certificate signed by any one of the principal executive officer, principal financial
officer or principal accounting officer of the Company or a Guarantor, as applicable. 
 “Opinion of Counsel” means
an opinion from legal counsel which is reasonably acceptable to the Trustee, that meets the requirements of Section 13.4 hereof. The counsel may be an employee of or counsel to the Company or any Subsidiary of the Company. 

“Parent” means any direct or indirect parent company of the Company. 

“Pari Passu Lien Indebtedness” means any Additional Notes and any additional Secured Indebtedness that is secured
pari passu with the Notes and is permitted to be incurred pursuant to Section 3.2 and clause (12)(i) of the definition of “Permitted Liens”; provided that (i) the representative of such Pari Passu Lien
Indebtedness executes a joinder agreement to the applicable Collateral Documents or, if applicable, a joinder agreement to the Intercreditor Agreement, in each case in the form attached thereto, agreeing to be bound thereby and (ii) the Company
has designated such Indebtedness as “Pari Passu Lien Indebtedness” thereunder. 
 “Permitted Business”
means any business conducted by the Company and its Restricted Subsidiaries on the Issue Date and any business reasonably related, ancillary or complimentary to, or reasonable extensions of, the business of the Company or any of its Restricted
Subsidiaries on the Issue Date. 
 “Permitted Group” means any group of investors that is deemed to be a
“person” (as that term is used in Section 13(d)(3) of the Exchange Act), by virtue of the Stockholders Agreement, as the same may be amended, modified or supplemented from time to time; provided that no single Person (other
than the Principals and their Related Parties) Beneficially Owns (together with its Affiliates) more of the Voting Stock of the Company that is Beneficially Owned by such group of investors than is then collectively Beneficially Owned by the
Principals and their Related Parties in the aggregate. 

  
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 “Permitted Investments” means: 

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

(2) any Investment in Cash Equivalents; 

(3) any Investment by the Company or any Restricted Subsidiary of the Company in a Person, if as a result of such Investment:

 (a) such Person becomes a Restricted Subsidiary of the Company; or 

(b) such Person is merged, consolidated or amalgamated with or into, or transfers or conveys substantially all of its assets
to, or is liquidated into, the Company or a Restricted Subsidiary of the Company; 
 (4) any Investment made as a result of
the receipt of non-cash consideration from an Asset Disposition that was made pursuant to and in compliance with Section 3.5 hereof; 

(5) any acquisition of assets or Capital Stock solely in exchange for the issuance of Equity Interests (other than Disqualified
Stock of the Company) of the Company or of Parent; 
 (6) any Investments received in compromise or resolution of
(A) obligations of trade creditors or customers that were incurred in the ordinary course of business of the Company or any of its Restricted Subsidiaries, including pursuant to any plan of reorganization or similar arrangement upon the
bankruptcy or insolvency of any trade creditor or customer; or (B) litigation, arbitration or other disputes with Persons who are not Affiliates; 

(7) Investments represented by Hedging Obligations; 

(8) loans or advances to or on behalf of directors, officers and employees of the Company and its Restricted Subsidiaries
(a) made in the ordinary course of business in connection with the relocation of such directors, officers or employees, (b) made in the ordinary course of business of the Company or any Restricted Subsidiary of the Company in an aggregate
principal amount not to exceed $1.0 million at any one time outstanding or (c) to finance the purchase by such person of Capital Stock of Parent, the Company or any of its Restricted Subsidiaries; provided that the aggregate amount of
loans or advances made pursuant to clause (c) shall not exceed $1.0 million in any twelve-month period; 
 (9)
receivables owing to the Company or any Restricted Subsidiary, if created or acquired in the ordinary course of business; 

(10) payroll, travel and similar advances to cover matters that are expected at the time of such advances ultimately to be
treated as expenses for accounting purposes and that are made in the ordinary course of business; 
 (11) guarantees
otherwise permitted by the terms of this Indenture; 
 (12) Investments existing on the Issue Date; 

(13) repurchases of the Notes; 

(14) the acquisition by a Receivables Subsidiary in connection with a Qualified Receivables Transaction of Equity Interests of
a trust or other Person established by such Receivables Subsidiary to effect such Qualified Receivables Transaction; and any other Investment by the Company or a Subsidiary of the Company in a Receivables Subsidiary or any Investment by a
Receivables Subsidiary in any other Person in connection with a Qualified Receivables Transaction customary for such transactions; 

  
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 (15) loans or advances to Dealers, when taken together with all guarantees
provided pursuant to Section 3.2(b)(20) hereof that are at the time outstanding, not to exceed the greater of $10.0 million and 1.5% of Total Assets at any time outstanding; and 

(16) other Investments in any Person other than an Affiliate (other than such Persons that are Affiliates of the Company solely
by virtue of the Company’s Investments in such Persons) of the Company having an aggregate Fair Market Value (measured on the date each such Investment was made and without giving effect to subsequent changes in value), when taken together with
all other Investments made pursuant to this clause (16) that are at the time outstanding not to exceed the greater of (a) $25.0 million and (b) 3.75% of Total Assets. 

The amount of Investments outstanding at any time pursuant to clause (16) above shall be reduced by (A) the net reduction after the Issue
Date in Investments made after the Issue Date pursuant to such clause relating from dividends, repayments of loans or advances or other transfers of property, net cash proceeds realized on the sale of any such Investments and net cash proceeds
representing the return of the capital, in each case to the Company or any Restricted Subsidiary in respect of any such Investment, less the cost of the disposition of any such Investment (provided that, in each case, the amount of any such
net cash proceeds that are applied to reduce the amount of Investments outstanding at any time pursuant to clause (16) above will be excluded from
 clause (iii)(C) or (iii)(E), as applicable, of Section 3.3(a) hereof), and
(B) the portion (proportionate to the Company’s equity interest in such Unrestricted Subsidiary) of the Fair Market Value of the net assets of an Unrestricted Subsidiary that was designated after the Issue Date as an Unrestricted
Subsidiary pursuant to clause (16) at the time such Unrestricted Subsidiary is designated a Restricted Subsidiary (provided that, in each case, the amount applied to reduce the amount of Investments outstanding at any time pursuant to
clause (16) above will be excluded from clause (iii)(D) of Section 3.3(a) hereof); provided, however, that the foregoing sum shall not exceed, in the case of any Person, the amount of Investments previously made by the
Company or any Restricted Subsidiary pursuant to clause (16). 
 If any Investment pursuant to clause (16) above, or pursuant to
Section 3.3(b)(13) hereof, as applicable, is made in any Person that is not a Restricted Subsidiary and such Person thereafter (A) becomes a Restricted Subsidiary or (B) is merged or consolidated into, or transfers or conveys
all or substantially all of its assets to, or is liquidated into, the Company or a Restricted Subsidiary, then such Investment shall thereafter be deemed to have been made pursuant to clause (1) or (3) above, respectively, and not clause
(16) above, or pursuant to Section 3.3(b)(13) hereof, as applicable (and, in the case of the foregoing clause (A), for so long as such Person continues to be a Restricted Subsidiary unless and until such Person is merged or
consolidated into or transfers or conveys all or substantially all its assets to, or is liquidated into, the Company or a Restricted Subsidiary). 

“Permitted Liens” means: 

(1) Liens securing Obligations (including ABL Obligations) in respect of Indebtedness incurred pursuant to

Section 3.2(b)(1) and any other ABL Obligations specified in clause (ii) of the definition of “ABL Obligations”; provided, however, that (A) any Liens on the Notes Collateral granted pursuant to this
clause (1) must be junior in priority to the Liens on such Notes Collateral granted in favor of the Notes Collateral Agent for the benefit of the Notes Secured Parties pursuant to the Collateral Documents and the terms of such junior interest
may be no more favorable to the beneficiaries thereof than the terms contained in the Intercreditor Agreement as in effect from time to time and (B) no other Liens may be granted pursuant to this clause (1) (other than such assets
expressly permitted to secure such Indebtedness without securing the Notes in accordance with the Intercreditor Agreement) unless the Notes are secured by a second-priority Lien that is junior in priority to the Liens on such Collateral (other than
Notes Collateral) securing such Indebtedness but senior in priority to any other Liens granted on such Collateral; provided, further, that the preceding proviso shall not be given effect with respect to any Debt Facilities sharing on a
pro rata basis first priority security interest in all the ABL Collateral and Notes Collateral with the Obligations under the Notes, the Note Guarantees and this Indenture; 

(2) Liens in favor of the Company or the Guarantors; 

  
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 (3) Liens on property of a Person existing at the time such Person is merged with
or into or consolidated with the Company or any Subsidiary of the Company; provided that such Liens were in existence prior to, and were not incurred in contemplation of, such merger or consolidation and do not extend to any assets other than
those of the Person merged into or consolidated with the Company or the Subsidiary; 
 (4) Liens on property (including
Capital Stock) existing at the time of acquisition of the property by the Company or any Subsidiary of the Company; provided that such Liens were in existence prior to and not incurred in contemplation of such acquisition; provided,
further, however, that the Lien may not extend to any other assets or property owned by the Company or any Restricted Subsidiary; 

(5) Liens in favor of issuers of performance, surety, bid, indemnity, warranty, release, appeal or similar bonds or with
respect to other regulatory requirements or letters of credit or bankers acceptances issued, and completion guarantees provided for, in each case, issued pursuant to the request of and for the account of such Person in the ordinary course of its
business or consistent with past practice prior to the Issue Date; 
 (6) Liens to secure Indebtedness (including Capital
Lease Obligations) permitted by clause (4) of the definition of Permitted Debt covering only the assets acquired with or financed by such Indebtedness; 

(7) Liens existing on the Issue Date; 

(8) Liens for taxes, assessments or governmental charges or claims that are not yet delinquent or that are being contested in
good faith by appropriate proceedings promptly instituted and diligently conducted provided appropriate reserves required pursuant to GAAP have been made in respect thereof and in the case of the Notes Collateral; 

(9) Liens imposed by law, such as carriers’, warehousemen’s, landlord’s and mechanics’ Liens, in each case,
incurred in the ordinary course of business for sums not yet due or being contested in good faith by appropriate proceedings or other Liens arising out of judgments or awards against such Person with respect to which such Person shall then be
proceeding in good faith with an appeal or other appropriate proceedings for review and for which adequate reserves are being maintained, to the extent required by GAAP and in the case of the Notes Collateral, such proceedings have the effect of
preventing the forfeiture or sale of the property or assets subject to any such Lien; 
 (10) survey exceptions, easements or
reservations of, or rights of others for, licenses, rights-of-way, sewers, electric lines, telegraph and telephone lines and other similar purposes, or zoning or other restrictions as to the use of real property that were not incurred in connection
with Indebtedness and that do not, individually or in the aggregate, materially adversely affect the value of said properties or materially impair their use in the operation of the business of such Person; 

(11) Liens securing the Notes and the related Note Guarantees issued on the Issue Date; 

(12) (i) Liens securing Pari Passu Lien Indebtedness of the Company or any of the Guarantors, so long as after giving pro forma
effect to such incurrence, the Consolidated First Lien Secured Leverage Ratio of the Company would be no greater than 3.85 to 1.00 as of the end of the Company’s most recently ended four full fiscal quarters for which internal financial
statements are available immediately preceding such incurrence, and (ii) Liens securing Junior Lien Indebtedness of the Company or any of the Guarantors, so long as after giving pro forma effect to such incurrence, the Consolidated Secured
Leverage Ratio of the Company would be no greater than 5.0 to 1.00 as of the end of the Company’s most recently ended four full fiscal quarters for which internal financial statements are available immediately preceding such incurrence; 

(13) Liens arising by reward of any judgment, decree or order of any court but not giving rise to an Event of Default so long
as such Liens are adequately bonded and any appropriate legal proceedings 

  
 -20- 

 
which may have been duly initiated for the review of such judgment, decree or order shall not have been finally terminated or the period within which such proceedings may be initiated shall not
have expired; provided that any reserve or other appropriate provision as is required in conformity with GAAP has been made therefor; 

(14) Liens upon specific items of inventory or other goods and proceeds of the Company or any of its Restricted Subsidiaries
securing such Person’s obligations in respect of bankers’ acceptances issued or created for the account of such Person to facilitate the purchase, shipment or storage of such inventory or other goods; 

(15) Liens securing Hedging Obligations incurred pursuant to clause (8) of the definition of “Permitted Debt” so
long as the related Indebtedness is, and is permitted to be under this Indenture, secured by a Lien on the same property securing such Hedging Obligations; 

(16) Liens on the assets of Restricted Subsidiaries of the Company that are not Guarantors securing Indebtedness and other
obligations of such Restricted Subsidiaries of the Company permitted to be incurred under this Indenture; 
 (17) any
provision for the retention of title to an asset by the vendor or transferor of such asset which asset is acquired by the Company or any Restricted Subsidiary of the Company in a transaction entered into in the ordinary course of business of the
Company or such Restricted Subsidiary; 
 (18) any extension, renewal or replacement, in whole or in part, of any Lien
described in clauses (3), (4), (6) or (7) of this definition; provided that (A) any such extension, renewal or replacement is no more restrictive in any material respect that the Lien so extended, renewed or replaced and does
not extend to any additional property or assets and (B) the Indebtedness secured by such Lien at such time is not increased to any amount greater than the outstanding principal amount of the Indebtedness described under such clauses (3), (4),
(6) or (7) at the time the original Lien became a Permitted Lien under this Indenture; 
 (19) Liens to secure any
Permitted Refinancing Indebtedness permitted to be incurred under this Indenture to renew, refund, refinance, replace, defease or discharge other Secured Indebtedness (other than Indebtedness secured by Liens described in clauses (1) and
(26) of this definition); provided, however, that: 
 (a) the new Lien shall be limited to all or part of
the same property and assets that secured or, under the written agreements pursuant to which the original Lien arose, could secure the original Lien (plus improvements and accessions to, such property or proceeds or distributions thereof); and 

(b) the Indebtedness secured by the new Lien is not increased to any amount greater than the sum of (x) the outstanding
principal amount, or, if greater, committed amount, of the Permitted Refinancing Indebtedness and (y) an amount necessary to pay any fees and expenses, including premiums, related to such renewal, refunding, refinancing, replacement, defeasance
or discharge; 
 (20) leases, licenses, subleases or sublicenses granted to others in the ordinary course of business that do
not (x) interfere in any material respect with the business of the Company or any of its Restricted Subsidiaries or (y) secure any Indebtedness; 

(21) Liens (i) of a collection bank arising under Section 4-210 of the Uniform Commercial Code on items in the course
of collection and (ii) in favor of a banking institution arising as a matter of law encumbering deposits (including the right of set-off) and which are within the general parameters customary in the banking industry; 

  
 -21- 

 (22) Liens encumbering reasonable customary initial deposits and margin deposits
and similar Liens attaching to brokerage accounts incurred in the ordinary course of business and not for speculative purposes; 

(23) Liens on property or shares of stock of a Person (including after-acquired property of the same type) at the time such
Person becomes a Restricted Subsidiary; provided, however, that such Liens are not created or incurred in connection with, or in contemplation of, such other Person becoming such a Restricted Subsidiary; provided,
further, that such Liens may not extend to any other property owned by the Company or any Restricted Subsidiary; 

(24) Liens securing Indebtedness incurred by the Company or any Restricted Subsidiary constituting reimbursement obligations
with respect to letters of credit issued in the ordinary course of business, including without limitation letters of credit in respect of workers’ compensation claims, health, disability or other employee benefits or property, casualty or
liability insurance or self-insurance or other Indebtedness with respect to reimbursement-type obligations regarding workers’ compensation claims; provided, however, that upon the drawing of such letters of credit or the
incurrence of such Indebtedness, such obligations are reimbursed within 30 days following such drawing or incurrence; 
 (25)
Liens solely on any cash earnest money deposits made by the Company or any of its Restricted Subsidiaries in connection with any letter of intent or purchase agreement permitted under this Indenture; 

(26) Liens incurred in connection with a Qualified Receivables Transaction (which, in the case of the Company and its
Restricted Subsidiaries (other than Receivables Subsidiaries) shall be limited to receivables and related assets referred to in the definition of Qualified Receivables Transaction); and 

(27) Liens incurred securing Indebtedness and other obligations in an aggregate principal amount not to exceed $20.0 million at
any one time outstanding. 
 For purposes of determining compliance with this definition, (x) a Lien need not be incurred solely by
reference to one category of Permitted Liens described in this definition but may be incurred under any combination of such categories (including in part under one such category and in part under any other such category) and (y) in the event
that a Lien (or any portion thereof) meets the criteria of one or more of such categories of Permitted Liens, the Company shall, in its sole discretion, classify or reclassify such Lien (or any portion thereof) in any manner that complies with this
definition. 
 “Permitted Payments to Parent” means, without duplication as to amounts: 

(1) payments to Parent to permit Parent to pay general corporate operating and overhead costs of Parent, including reasonable
accounting, legal and administrative expenses, franchise and similar taxes required to maintain its corporate existence, fees, other expenses and indemnification claims made by directors and officers, and costs with respect to filing with the
Securities and Exchange Commission, to the extent such expenses are attributable to the ownership and operation of the Company and its Subsidiaries; provided that such payments shall not exceed $2.5 million in any fiscal year; 

(2) for any taxable period with respect to which (a) the Company or any of its Subsidiaries is a member of a group filing
a consolidated, combined, unitary or similar income tax return of which Parent or any direct or indirect parent of Parent is the common parent (a “Tax Group”) or (b) the Company is a disregarded entity whose income flows
through to Parent or a direct or indirect corporate parent of Parent (a “Corporate Owner”), payments to Parent in respect of the applicable portion of the income tax liabilities of such Tax Group or Corporate Owner, as
applicable, that is attributable to the income of the Company and/or any of its Subsidiaries (“Tax Payments”); provided that Tax Payments attributable to the income of any Unrestricted Subsidiary shall be permitted
only to the extent such Unrestricted Subsidiary shall have made cash distributions for such purpose to the Company or any of its Restricted Subsidiaries. The Tax Payments with respect to any taxable period shall not exceed the lesser of (i) the
amount of the relevant income tax 

  
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that the Company and/or its applicable Subsidiaries would have owed if such entities had filed a separate income tax return or as a separate income tax group, as applicable, taking into account
any carryovers and carrybacks of tax attributes (such as net operating losses) of such entities from other taxable years (as if such entities were a stand-alone corporation or a stand-alone corporate group (as applicable) in all such taxable years),
less any income tax payments made directly by such entities and (ii) the net amount of the relevant income tax that the Tax Group or Corporate Owner actually owes to the appropriate taxing authority. Any Tax Payments received from the Company
shall be paid over to the appropriate taxing authority within 60 days of Parent’s receipt of such Tax Payments or refunded to the Company; 

(3) payments to Parent to permit Parent to pay management fees to the Principals pursuant to the Management Agreement; and 

(4) payments to Parent to permit Parent to pay the costs of any equity or debt offerings of Parent (whether or not
successful); provided that the aggregate amount of such payments shall not exceed $5.0 million. 
 “Permitted Refinancing
Indebtedness” means any Indebtedness of the Company or any of its Restricted Subsidiaries issued in exchange for, or the net proceeds of which are used to renew, refund, refinance, replace, defease or discharge other Indebtedness of the
Company or any of its Restricted Subsidiaries (other than intercompany Indebtedness); provided that: 
 (1) the
principal amount (or accreted value, if applicable) of such Permitted Refinancing Indebtedness does not exceed the principal amount (or accreted value, if applicable) of the indebtedness renewed, refunded, refinanced, replaced, defeased or
discharged (plus all accrued interest on the Indebtedness and the amount of all fees and expenses, including premiums, incurred in connection therewith); 

(2) such Permitted Refinancing Indebtedness has a final maturity date later than the final maturity date of, and has a Weighted
Average Life to Maturity equal to or greater than the Weighted Average Life to Maturity of, the Indebtedness being renewed, refunded, refinanced, replaced, defeased or discharged; 

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

(4) such Indebtedness is incurred either by the Company or by the Restricted Subsidiary who is the obligor on the Indebtedness
being renewed, refunded, refinanced, replaced, defeased or discharged. 
 “Person” means any individual,
corporation, partnership, joint venture, association, joint-stock company, trust, unincorporated organization, limited liability company or government or other entity. 

“Preferred Stock” means, as applied to the Capital Stock of any corporation, Capital Stock of any class or classes
(however designated) that is preferred as to the payment of dividends, or as to the distribution of assets upon any voluntary or involuntary liquidation or dissolution of such Person, over shares of Capital Stock of any other class of such Person.

 “Principals” means (i) AIPCF IV, LLC and its Affiliates (including, without limitation, any investment
partnership under common control with AIPCF IV, LLC but excluding any of its or its Affiliates’ portfolio companies) and (ii) any officer, director, employee, partner, member or stockholder of the manager or general partner of the
foregoing Persons. 
 “Pro Forma Cost Savings” means, with respect to any period, the reduction in net costs and
related adjustments that (i) were directly attributable to an Asset Acquisition that occurred during the four-quarter period or after 

  
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 the end of the four-quarter period and on or prior to the Calculation Date and calculated on a basis that is
consistent with Regulation S-X under the Securities Act as in effect and applied as of the Issue Date, (ii) were actually implemented by the business that was the subject of any such Asset Acquisition within twelve months after the date of the
Asset Acquisition and prior to the Calculation Date that are supportable and quantifiable by the underlying accounting records of such business or (iii) relate to the business that is the subject of any such Asset Acquisition and that the
specified Person reasonably determines are probable based upon specifically identifiable actions to be taken within twelve months of the date of the Asset Acquisition and, in the case of each of (i), (ii) and (iii), are described, as provided
below, in an Officer’s Certificate, as if all such reductions in costs had been effected as of the beginning of such period. Pro Forma Cost Savings described above shall be accompanied by a certificate delivered to the Trustee from the
Company’s principal financial officer that outlines the specific actions taken or to be taken, the net cost savings achieved or to be achieved from each such action and that, in the case of clause (iii) above, such savings have been
determined to be probable. 
 “Purchase Agreement” means the Purchase Agreement dated as of October 16, 2013
among the Company, the Guarantors party thereto and Deutsche Bank Securities Inc. on behalf of itself and as representative of the Initial Purchasers, as supplemented by the Purchase Agreement Joinder Agreement, dated as of the Issue Date, by and
among the Guarantors party thereto. 
 “QIB” means any “qualified institutional buyer” as such term is
defined in Rule 144A. 
 “Qualified Receivables Transaction” means any transaction or series of transactions entered
into by the Company or any of its Subsidiaries pursuant to which the Company or any of its Subsidiaries sells, conveys or otherwise transfers, or grants a security interest, to: 

(1) a Receivables Subsidiary (in the case of a transfer by the Company or any of its Subsidiaries, which transfer may be
effected through the Company or one or more of its Subsidiaries); and 
 (2) if applicable, any other Person (in the case of
a transfer by a Receivables Subsidiary), 
 in each case, in any accounts receivable, instruments, chattel paper, general intangibles and similar assets
(whether now existing or arising in the future, the “Receivables”) of the Company or any of its Subsidiaries, and any assets related thereto, including, without limitation, all collateral securing such Receivables, all
contracts, contract rights and all guarantees or other obligations in respect of such Receivables, proceeds of such Receivables and any other assets, which are customarily transferred or in respect of which security interests are customarily granted
in connection with receivables financings and asset securitization transactions of such type, together with any related transactions customarily entered into in a receivables financings and asset securitizations, including servicing arrangements.

 “Rating Agency” means (1) each of Moody’s and S&P and (2) if Moody’s or S&P ceases to
rate the notes for reasons outside of the Company’s control, a “nationally recognized statistical rating organization” within the meaning of Rule 15c3-1(c)(2)(vi)(F) under the Exchange Act selected by the Company as a replacement
agency for Moody’s or S&P, as the case may be. 
 “Receivables Subsidiary” means a Subsidiary of the
Company which engages in no activities other than in connection with the financing of accounts receivable and in businesses related or ancillary thereto and that is designated by the Board of Directors of the Company (as provided below) as a
Receivables Subsidiary 
 (A) no portion of the Indebtedness or any other Obligations (contingent or otherwise) of
which: 
 (1) is guaranteed by the Company or any Subsidiary of the Company (excluding guarantees of Obligations (other than
the principal of, and interest on, Indebtedness) pursuant to representations, warranties, covenants and indemnities entered into in the ordinary course of business in connection with a Qualified Receivables Transaction); 

  
 -24- 

 (2) is recourse to or obligates the Company or any Subsidiary of the Company in
any way other than pursuant to representations, warranties, covenants and indemnities customarily entered into in connection with a Qualified Receivables Transaction; or 

(3) subjects any property or asset of the Company or any Subsidiary of the Company (other than accounts receivable and related
assets as provided in the definition of Qualified Receivables Transaction), directly or indirectly, contingently or otherwise, to the satisfaction thereof, other than pursuant to representations, warranties, covenants and indemnities customarily
entered into in connection with a Qualified Receivables Transaction; 
 (B) with which neither the Company nor any Subsidiary
of the Company has any material contract, agreement, arrangement or understanding other than on terms no less favorable to the Company or such Subsidiary than those that might be obtained at the time from Persons who are not Affiliates of the
Company, other than as may be customary in a Qualified Receivables Transaction including for fees payable in the ordinary course of business in connection with servicing accounts receivable; and 

(C) with which neither the Company nor any Subsidiary of the Company has any obligation to maintain or preserve such
Subsidiary’s financial condition or cause such Subsidiary to achieve certain levels of operating results. 
 Any such designation by
the Board of Directors of the Company will be evidenced to the Trustee by filing with the Trustee a certified copy of the resolution of the Board of Directors of the Company giving effect to such designation and an Officer’s Certificate
certifying that such designation complied with the foregoing conditions. 
 “Recovery Event” means any event,
occurrence, claim or proceeding that results in any Net Award or Net Insurance Proceeds. 
 “Redemption Date” means, with
respect to any redemption of Notes, the date of redemption with respect thereto. 
 “Regulation S” means Regulation
S under the Securities Act. 
 “Related Party” means: 

(1) immediate family member (in the case of an individual) of any Principal; or 

(2) any trust, corporation, partnership, limited liability company or other entity, the beneficiaries, stockholders, partners,
members, owners or Persons beneficially holding an 80% or more controlling interest of which consist of any one or more Principals and/or such other Persons referred to in the immediately preceding clause (1). 

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

“Restricted Notes” means Initial Notes and Additional Notes bearing one of the restrictive legends described in
Section 2.1(d). 
 “Restricted Notes Legend” means the legend set forth in Section 2.1(d)(1)
or (d)(2), as applicable, and, in the case of the Temporary Regulation S Global Note, the additional legend set forth in Section 2.1(d)(2). 

“Restricted Subsidiary” of a Person means any Subsidiary of the referent Person that is not an Unrestricted
Subsidiary. 
 “Rule 144A” means Rule 144A under the Securities Act. 

  
 -25- 

 “S&P” means Standard & Poor’s, a division of The
McGraw-Hill Companies, Inc., and any successor to its rating agency business. 
 “SEC” means the Securities and
Exchange Commission. 
 “Secured Indebtedness” means any Indebtedness of the Company or any of its Restricted
Subsidiaries secured by a Lien. 
 “Securities Act” means the Securities Act of 1933, as amended, and the rules and
regulations of the SEC promulgated thereunder. 
 “Significant Subsidiary” means any Subsidiary that would be a
“significant subsidiary” as defined in Article 1, Rule 1-02 of Regulation S-X, promulgated pursuant to the Securities Act, as such Regulation is in effect on the Issue Date. 

“Stated Maturity” means, with respect to any installment of interest or principal on any series of Indebtedness, the
date on which the payment of interest or principal was scheduled to be paid in the documentation governing such Indebtedness as of the Issue Date, and will not include any contingent obligations to repay, redeem or repurchase any such interest or
principal prior to the date originally scheduled for the payment thereof. 
 “Stockholders Agreement” means that
certain stockholders agreement, dated August 4, 2008 as amended and restated on February 17, 2010, by and among AIP/E1 Holdings, Inc., E-One, Inc., the individuals identifies as employees therein, American Industrial Partners Capital Fund
IV, L.P, J.P. Morgan Corporate Finance Private Investors III LLC and the stockholders party thereto, as the same may be amended, modified or supplemented from time to time. 

“Subsidiary” means, with respect to any specified Person: 

(1) any corporation, association or other business entity of which more than 50% of the total voting power of shares of Capital
Stock entitled (without regard to the occurrence of any contingency and after giving effect to any voting agreement or stockholders’ agreement that effectively transfers voting power) to vote in the election of directors, managers or trustees
of the corporation, association or other business entity is at the time owned or controlled, directly or indirectly, by that Person or one or more of the other Subsidiaries of that Person (or a combination thereof); and 

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

“Tax Payment” has the meaning set forth in the definition of “Permitted Payments to Parent.” 

“TIA” or “Trust Indenture Act” means the Trust Indenture Act of 1939, as in effect on the
Issue Date (15 U.S.C. §§ 77aaa-77bbbb). 
 “Total Assets” means, unless the context otherwise requires,
the total consolidated assets of the Company and its Restricted Subsidiaries as set forth on the most recent consolidated balance sheet of the Company and its Subsidiaries. 

“Transactions” means, the transactions described in the “Offering Memorandum Summary—The Transactions”
section of the Offering Memorandum. 
 “Treasury Rate” means, as of any redemption date, the yield to maturity as of
such redemption date of United States Treasury securities with a constant maturity (as compiled and published in the most recent Federal Reserve Statistical Release H.15 (519) that has become publicly available at least two business days prior
to the redemption date (or, if such Statistical Release is no longer published, any publicly available source of similar market 

  
 -26- 

 data)) most nearly equal to the period from the redemption date to November 1, 2016; provided,
however, that if the period from the redemption date to November 1, 2016 is less than one year, the weekly average yield on actively traded United States Treasury securities adjusted to a constant maturity of one year will be used. 

“Trust Officer” means, when used with respect to the Trustee, any officer within the corporate trust department of the
Trustee, including any vice president, assistant vice president, assistant secretary, assistant treasurer, trust officer or any other officer of the Trustee who customarily performs functions similar to those performed by the Persons who at the time
shall be such officers, respectively, or to whom any corporate trust matter is referred because of such person’s knowledge of and familiarity with the particular subject and who shall have direct responsibility for the administration of this
Indenture. 
 “Trustee” means the party named as such in this Indenture until a successor replaces it and,
thereafter, means the successor. 
 “Unrestricted Subsidiary” means (a) ASV/MRV, Inc., Towables Co. LLC and
Monaco RV LLC and (b) any other Subsidiary of the Company that is designated by the Board of Directors of the Company as an Unrestricted Subsidiary pursuant to a resolution of the Board of Directors, but only to the extent that such Subsidiary:

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

(2) except as permitted by Section 3.8 is not party to any agreement, contract, arrangement or understanding with
the Company or any Restricted Subsidiary of the Company unless the terms of any such agreement, contract, arrangement or understanding are no less favorable to the Company or such Restricted Subsidiary than those that might be obtained at the time
from Persons who are not Affiliates of the Company; 
 (3) is a Person with respect to which neither the Company nor any of
its Restricted Subsidiaries has any direct or indirect obligation (a) to subscribe for additional Equity Interests or (b) to maintain or preserve such Person’s financial condition or to cause such Person to achieve any specified
levels of operating results; and 
 (4) has not guaranteed or otherwise directly or indirectly provided credit support for
any Indebtedness of the Company or any of its Restricted Subsidiaries. 
 “Voting Stock” of any specified Person as
of any date means the Capital Stock of such Person that is at the time entitled to vote in the election of the Board of Directors of such Person. 

“Weighted Average Life to Maturity” means, when applied to any Indebtedness at any date, the number of years obtained
by dividing: 
 (1) the sum of the products obtained by multiplying (a) the amount of each then remaining installment,
sinking fund, serial maturity or other required payments of principal, including payment at final maturity, in respect of the Indebtedness, by (b) the number of years (calculated to the nearest onetwelfth) that will elapse between such date and
the making of such payment; by 
 (2) the then outstanding principal amount of such Indebtedness. 

“Wholly Owned Domestic Subsidiary” of any specified Person means a Domestic Subsidiary of such Person all of the
outstanding Capital Stock or other ownership interest of which (other than directors’ qualifying shares), shall at the time be owned by such Person or by one or more Wholly Owned Restricted Subsidiaries of such Person. 

“Wholly Owned Restricted Subsidiary” of any specified Person means a Restricted Subsidiary of such Person all of the
outstanding Capital Stock or other ownership interests of which (other than directors’ qualifying shares or Investments by foreign nationals mandated by applicable law) shall at the time be owned by such Person or by one or more Wholly Owned
Restricted Subsidiaries of such Person and one or more Wholly Owned Restricted Subsidiaries of such Person. 

  
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 SECTION 1.2. Other Definitions. 

 

			
	 Term
	  	Defined in
Section
	 “Additional Restricted Notes”
	  	2.1(b)
	 “Affiliate Transaction”
	  	3.8(a)
	 “Agent Members”
	  	2.1(e)(3)
	 “Asset Disposition Offer”
	  	3.5(i)
	 “Asset Disposition Offer Amount”
	  	3.5(j)
	 “Asset Disposition Offer Period”
	  	3.5(j)
	 “Asset Disposition Purchase Date”
	  	3.5(j)
	 “Authenticating Agent”
	  	2.2
	 “Change of Control Offer”
	  	3.10(a)
	 “Change of Control Payment”
	  	3.10(a)
	 “Change of Control Payment Date”
	  	3.10(a)(2)
	 “Clearstream”
	  	2.1(b)
	 “Collateral Disposition Offer”
	  	3.5(e)
	 “Collateral Proceeds Second Commitment”
	  	3.5(c)
	 “Company Order”
	  	2.2
	 “Covenant Defeasance”
	  	8.3
	 “Covenant Suspension Event”
	  	3.9(a)
	 “Defaulted Interest”
	  	2.14
	 “Euroclear”
	  	2.1(b)
	 “Event of Default”
	  	6.1
	 “Excess Collateral Proceeds”
	  	3.5(e)
	 “Excess Proceeds”
	  	3.5(i)
	 “Global Notes”
	  	2.1(b)
	 “Guaranteed Obligations”
	  	10.1(a)
	 “incur”
	  	3.2(a)
	 “Legal Defeasance”
	  	8.2
	 “Mortgage Policies”
	  	11.5(d)
	 “Mortgages”
	  	11.5(b)
	 “Notes Register”
	  	2.3
	 “Paying Agent”
	  	2.3
	 “Payment Default”
	  	6.1(5)(a)
	 “Permanent Regulation S Global Note”
	  	2.1(b)
	 “Permitted Debt”
	  	3.2(b)
	 “Permitted Parties”
	  	3.11(b)
	 “protected purchaser”
	  	2.10
	 “Redemption Date”
	  	5.7(b)
	 “Registrar”
	  	2.3
	 “Regulation S Global Note”
	  	2.1(b)
	 “Regulation S Notes”
	  	2.1(b)
	 “Resale Restriction Termination Date”
	  	2.6(b)
	 “Restricted Payments”
	  	3.3(a)
	 “Restricted Period”
	  	2.1(b)
	 “Reversion Date”
	  	3.9(b)
	 “Rule 144A Global Note”
	  	2.1(b)
	 “Rule 144A Notes”
	  	2.1(b)
	 “Second Commitment”
	  	3.5(g)
	 “Secure Website”
	  	3.11(b)
	 “Special Interest Payment Date”
	  	2.14(a)
	 “Special Record Date”
	  	2.14(a)
	 “Successor Company”
	  	4.1(a)(2)
	 “Successor Guarantor”
	  	4.1(b)(1)
	 “Suspended Covenants”
	  	3.9(a)
	 “Suspension Period”
	  	3.9(c)
	 “Temporary Regulation S Global Note”
	  	2.1(b)

  
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 SECTION 1.3. Incorporation by Reference of Trust Indenture Act. The following TIA terms
have the following meanings: 
 “Commission” means the SEC. 

“indenture securities” means the Notes. 

“indenture security holder” means a Holder. 

“indenture to be qualified” means this Indenture. 

“indenture trustee” or “institutional trustee” means the Trustee. 

“obligor” on the Indenture securities means the Company and any other obligor on the Indenture securities. 

All other TIA terms used in this Indenture that are defined by the TIA, defined in the TIA by reference to another statute or defined by SEC
rule have the meanings assigned to them by such definitions. For the avoidance of doubt, the Company shall not be required to qualify this Indenture under the TIA. 

SECTION 1.4. Rules of Construction. Unless the context otherwise requires: 

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

(2) an accounting term not otherwise defined has the meaning assigned to it in accordance with GAAP; 

(3) “or” is not exclusive; 

(4) the words “including,” “includes” and similar words shall be deemed to be followed by “without
limitation”; 
 (5) words in the singular include the plural and words in the plural include the singular; 

(6) the principal amount of any non-interest bearing or other discount security at any date shall be the principal amount
thereof that would be shown on a balance sheet of the issuer dated such date prepared in accordance with GAAP; 
 (7) the
principal amount of any Preferred Stock shall be (i) the maximum liquidation value of such Preferred Stock or (ii) the maximum mandatory redemption or mandatory repurchase price with respect to such Preferred Stock, whichever is greater;

 (8) all amounts expressed in this Indenture or in any of the Notes in terms of money refer to the lawful currency of the
United States of America; 

  
 -29- 

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

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

(11) provisions apply to successive events and transactions; 

(12) references to sections of, or rules under, the Securities Act or the Exchange Act will be deemed to include substitute,
replacement or successor sections or rules adopted by the SEC from time to time; 
 (13) unless the context otherwise
requires, any reference to an “Article,” “Section” or “clause” refers to an Article, Section or clause, as the case may be, of this Indenture; and 

(14) words used herein implying any gender shall apply to both genders. 

ARTICLE II 
 THE
NOTES 
 SECTION 2.1. Form, Dating and Terms. 

(a) The aggregate principal amount of Notes that may be authenticated and delivered under this Indenture is unlimited. The Initial Notes issued
on the date hereof will be in an aggregate principal amount of $200,000,000. In addition, the Company may issue, from time to time in accordance with the provisions of this Indenture, Additional Notes (as provided herein). Furthermore, Notes may be
authenticated and delivered upon registration of transfer, exchange or in lieu of, other Notes pursuant to Sections 2.2, 2.6, 2.10, 2.12, 5.6, or 9.5 in connection with a Collateral Disposition Offer or an
Asset Disposition Offer pursuant to Section 3.5 or in connection with a Change of Control Offer pursuant to Section 3.10. 

Notwithstanding anything to the contrary contained herein, the Company may not issue any Additional Notes, unless: 

(1) Immediately after giving effect to such issuance, no Default or Event of Default shall have occurred and be continuing; and

 (2) Prior to and immediately after giving effect to such issuance, the Company is in compliance with the covenants
contained in this Indenture. 
 The Initial Notes shall be known and designated as “8.500% Senior Secured Notes due 2019” of the
Company. Any Additional Notes shall be known and designated as “8.500% Senior Secured Notes due 2019” of the Company. 
 With
respect to any Additional Notes, the Company shall set forth in (i) an Officer’s Certificate or (ii) one or more indentures supplemental hereto, the following information: 

(1) the aggregate principal amount of such Additional Notes to be authenticated and delivered pursuant to this Indenture; and

 (2) the issue price and the issue date of such Additional Notes, including the date from which interest shall accrue. 

In authenticating and delivering Additional Notes, the Trustee shall receive and shall be fully protected in conclusively relying upon, in
addition to the Opinion of Counsel and Officer’s Certificate required by Section 13.3 an Opinion of Counsel as to the due authorization, execution, delivery, validity and enforceability of such Additional Notes. 

  
 -30- 

 The Initial Notes and the Additional Notes shall be considered collectively as a single class for
all purposes of this Indenture. Holders of the Initial Notes and the Additional Notes will vote and consent together on all matters to which such Holders are entitled to vote or consent as one class, and none of the Holders of the Initial Notes or
the Additional Notes shall have the right to vote or consent as a separate class on any matter to which such Holders are entitled to vote or consent. 

The terms of any Additional Notes shall be established by action taken pursuant to Board Resolutions of the Company and a copy of an
appropriate record of such action shall be certified by the Secretary or any Assistant Secretary of the Company and delivered to the Trustee at or prior to the delivery of the Officer’s Certificate or the Indenture supplemental hereto setting
forth the terms of the Additional Notes. 
 (b) The Initial Notes are being offered and sold by the Company pursuant to the Purchase
Agreement. The Initial Notes and any Additional Notes (if issued as Restricted Notes) (the “Additional Restricted Notes”) will be resold initially only to (A) QIBs in reliance on Rule 144A and (B) Non-U.S. Persons
in reliance on Regulation S. Such Initial Notes and Additional Restricted Notes may thereafter be transferred to, among others, QIBS, purchasers in reliance on Regulation S, in each case, in accordance with the procedure described herein. Additional
Notes offered after the date hereof may be offered and sold by the Company from time to time pursuant to one or more purchase agreements in accordance with applicable law. 

Initial Notes and Additional Restricted Notes offered and sold to QIBs in the United States of America in reliance on Rule 144A (the
“Rule 144A Notes”) shall be issued in the form of a permanent global Note, substantially in the form of Exhibit A, which is hereby incorporated by reference and made a part of this Indenture, including appropriate
legends as set forth in Section 2.1(d) (the “Rule 144A Global Note”), deposited with the Trustee, as custodian for DTC, duly executed by the Company and authenticated by the Trustee as hereinafter provided. The
Rule 144A Global Note may be represented by more than one certificate, if so required by DTC’s rules regarding the maximum principal amount to be represented by a single certificate. The aggregate principal amount of the Rule 144A Global Note
may from time to time be increased or decreased by adjustments made on the records of the Trustee, as custodian for DTC or its nominee, as hereinafter provided. 

Initial Notes and any Additional Restricted Notes offered and sold outside the United States of America in reliance on Regulation S (the
“Regulation S Notes”) shall initially be issued in the form of a temporary global Note (the “Temporary Regulation S Global Note”). Beneficial interests in the Temporary Regulation S Global Note will be
exchanged for beneficial interests in a corresponding permanent global Note, without interest coupons, substantially in the form of Exhibit A including appropriate legends as set forth in Section 2.1(d) (the “Permanent
Regulation S Global Note” and, together with the Temporary Regulation S Global Note, each a “Regulation S Global Note”) within a reasonable period after the expiration of the Restricted Period (as defined below)
and upon (i) delivery of the certification contemplated by Exhibit D or (ii) receipt by the Trustee of an Officer’s Certificate certifying as to the expiration of the Restricted Period and instructing the Trustee to
authenticate a Permanent Regulation S Global Note. Each Regulation S Global Note will be deposited upon issuance with, or on behalf of, the Trustee as custodian for DTC in the manner described in this Article II for credit to the respective
accounts of the purchasers (or to such other accounts as they may direct), including, but not limited to, accounts at Euroclear Bank S.A./N.V. (“Euroclear”) or Clearstream Banking, société anonyme
(“Clearstream”). Prior to the 40th day after the later of the commencement of the offering of the Initial Notes and the Issue Date (such period through and including such 40th day, the “Restricted
Period”), interests in the Temporary Regulation S Global Note may only be transferred to non- U.S. persons pursuant to Regulation S, unless exchanged for interests in a Rule 144A Global Note in accordance with the transfer and
certification requirements described herein. 
 Investors may hold their interests in the Regulation S Global Note through organizations
other than Euroclear or Clearstream that are participants in DTC’s system or directly through Euroclear or Clearstream, if they are participants in such systems, or indirectly through organizations which are participants in such systems. If
such interests are held through Euroclear or Clearstream, Euroclear and Clearstream will hold such interests in the applicable Regulation S Global Note on behalf of their participants through customers’ securities accounts in their respective
names on the books of their respective depositaries. Such depositaries, in turn, will hold such interests in the applicable Regulation S Global Note in customers’ securities accounts in the depositaries’ names on the books of DTC. 

  
 -31- 

 The Regulation S Global Note may be represented by more than one certificate, if so required by
DTC’s rules regarding the maximum principal amount to be represented by a single certificate. The aggregate principal amount of the Regulation S Global Note may from time to time be increased or decreased by adjustments made on the records of
the Trustee, as custodian for DTC or its nominee, as hereinafter provided. 
 The Rule 144A Global Note and the Regulation S Global Note are
sometimes collectively herein referred to as the “Global Notes.” 
 The principal of (and premium, if any) and
interest on the Notes shall be payable at the office or agency of the Paying Agent or Registrar designated by the Company in the Borough of Manhattan, The City of New York, or at such other office or agency of the Company as may be maintained for
such purpose pursuant to Section 2.3; provided, however, that, at the option of the Company, each installment of interest may be paid by (i) check mailed to Holders at their registered addresses as they appear on the
Notes Register (as defined in Section 2.3) or (ii) wire transfer to an account located in the United States maintained by the payee, subject to the last sentence of this paragraph. Payments in respect of Notes represented by a
Global Note (including principal, premium, if any, and interest) will be made by wire transfer of immediately available funds to the accounts specified by DTC. Payments in respect of Notes represented by Definitive Notes (including principal,
premium, if any, and interest) held by a Holder of at least $1,000,000 aggregate principal amount of Notes represented by Definitive Notes will be made by wire transfer to a U.S. dollar account maintained by the payee with a bank in the United
States if such Holder elects payment by wire transfer by giving written notice to the Trustee or the Paying Agent to such effect designating such account no later than 15 days immediately preceding the relevant due date for payment (or such other
date as the Trustee may accept in its discretion). 
 The Notes may have notations, legends or endorsements required by law, stock exchange
rule or usage, in addition to those set forth on Exhibit A and in Section 2.1(d). The Company shall approve any notation, endorsement or legend on the Notes. Each Note shall be dated the date of its authentication. The terms of
the Notes set forth in Exhibit A are part of the terms of this Indenture and, to the extent applicable, the Company, the Guarantors and the Trustee and the Notes Collateral Agent, by their execution and delivery of this Indenture, expressly
agree to be bound by such terms. 
 (c) Denominations. The Notes shall be issuable only in fully registered form, without coupons,
and only in minimum denominations of $2,000 and any integral multiples of $1,000 in excess of $2,000. 
 (d) Restrictive Legends.
Unless and until an Initial Note or an Additional Note issued as a Restricted Note is sold under an effective registration statement: 

(1) each Rule 144A Global Note shall bear the following legend on the face thereof: 

THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR THE SECURITIES LAWS OF
ANY STATE OR OTHER JURISDICTION. NEITHER THIS SECURITY NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH
TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, SUCH REGISTRATION. THE HOLDER OF THIS SECURITY, BY ITS ACCEPTANCE HEREOF, AGREES ON ITS OWN BEHALF AND ON BEHALF OF ANY INVESTOR ACCOUNT FOR WHICH IT HAS PURCHASED SECURITIES, TO OFFER, SELL OR
OTHERWISE TRANSFER SUCH SECURITY, PRIOR TO THE DATE (THE “RESALE RESTRICTION TERMINATION DATE”) THAT IS ONE YEAR AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF, THE ORIGINAL ISSUE DATE OF THE ISSUANCE OF ANY ADDITIONAL NOTES AND THE
LAST DATE ON WHICH THE COMPANY OR ANY AFFILIATE OF THE COMPANY WAS THE OWNER OF THIS SECURITY (OR ANY PREDECESSOR OF SUCH SECURITY) ONLY (A) TO THE COMPANY OR ANY SUBSIDIARY THEREOF, (B) PURSUANT TO A REGISTRATION STATEMENT THAT HAS BEEN
DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (C) FOR SO LONG AS THE SECURITIES ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”), TO A PERSON IT 

  
 -32- 

 
REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE
IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (D) PURSUANT TO OFFERS AND SALES TO NON-U.S. PERSONS THAT OCCUR OUTSIDE THE UNITED STATES WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT, (E) TO AN
INSTITUTIONAL “ACCREDITED INVESTOR” WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) UNDER THE SECURITIES ACT THAT IS NOT A QUALIFIED INSTITUTIONAL BUYER AND THAT IS PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF
ANOTHER INSTITUTIONAL ACCREDITED INVESTOR, IN EACH CASE IN A MINIMUM PRINCIPAL AMOUNT OF SECURITIES OR (F) PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO THE COMPANY’S AND THE
TRUSTEE’S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO CLAUSES (D), (E) OR (F) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/ OR OTHER INFORMATION SATISFACTORY TO EACH OF THEM. THIS LEGEND WILL BE
REMOVED UPON THE REQUEST OF THE HOLDER AFTER THE RESALE RESTRICTION TERMINATION DATE. 
 BY ACQUIRING THIS NOTE OR ANY INTEREST THEREIN, EACH
HOLDER AND EACH TRANSFEREE IS DEEMED TO REPRESENT, WARRANT AND AGREE THAT AT THE TIME OF ITS ACQUISITION AND THROUGHOUT THE PERIOD THAT IT HOLDS THIS NOTE OR ANY INTEREST THEREIN: (1) EITHER (A) IT IS NOT ACQUIRING THE NOTE OR ANY INTEREST
THEREIN FOR OR ON BEHALF OF (AND FOR SO LONG AS IT HOLDS THIS NOTE OR ANY INTEREST THEREIN WILL NOT BE AND WILL NOT BE ACTING ON BEHALF OF) (I) ANY EMPLOYEE BENEFIT PLAN (AS DEFINED IN SECTION 3(3) OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT
OF 1974, AS AMENDED (“ERISA”)) THAT IS SUBJECT TO TITLE I OF ERISA, (II) ANY “PLAN” (AS DEFINED IN SECTION 4975(e)(1) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (“CODE”)) THAT IS SUBJECT TO SECTION 4975 OF THE
CODE (INCLUDING AN INDIVIDUAL RETIREMENT ACCOUNT UNDER SECTION 408 OF THE CODE), OR (III) ANY ENTITY OF WHICH THE UNDERLYING ASSETS ARE CONSIDERED TO INCLUDE “PLAN ASSETS” OF ANY PLANS DESCRIBED IN THE FOREGOING CLAUSES (I) OR (II)
(AS DETERMINED PURSUANT TO U.S. DEPARTMENT OF LABOR REGULATIONS, AS MODIFIED BY SECTION 3(42) OF ERISA), OR (IV) ANY PLAN, SUCH AS A FOREIGN PLAN, GOVERNMENTAL PLAN (AS DEFINED IN SECTION 3(32) OF ERISA) OR CHURCH PLAN (AS DEFINED IN SECTION 3(33)
OF ERISA) THAT IS NOT SUBJECT TO TITLE I OF ERISA, BUT THAT IS SUBJECT TO ANY FEDERAL, STATE, LOCAL, FOREIGN OR OTHER LAWS OR REGULATIONS THAT ARE SIMILAR TO TITLE I OF ERISA OR SECTION 4975 OF THE CODE (EACH, A “SIMILAR LAW”), OR
(B) THE ACQUISITION, HOLDING AND DISPOSITION OF THIS NOTE OR ANY INTEREST THEREIN WILL NOT CONSTITUTE A NONEXEMPT PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE OR A VIOLATION UNDER ANY PROVISION OF A SIMILAR LAW;
AND (2) IT WILL NOT SELL OR OTHERWISE TRANSFER THIS NOTE OR ANY INTEREST THEREIN OTHER THAN TO A PURCHASER OR TRANSFEREE THAT IS DEEMED TO MAKE THESE SAME REPRESENTATIONS, WARRANTIES AND AGREEMENTS WITH RESPECT TO ITS ACQUISITION, HOLDING AND
DISPOSITION OF THIS NOTE. 
 (2) each Regulation S Global Note shall bear the following legend on the face thereof: 

THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR THE SECURITIES LAWS OF
ANY STATE OR OTHER JURISDICTION. NEITHER THIS SECURITY NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH
TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, SUCH REGISTRATION. THE HOLDER OF THIS SECURITY, BY ITS ACCEPTANCE HEREOF, AGREES ON ITS OWN BEHALF AND ON BEHALF OF ANY INVESTOR ACCOUNT FOR WHICH IT HAS PURCHASED SECURITIES, 

  
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 TO OFFER, SELL OR OTHERWISE TRANSFER SUCH SECURITY, PRIOR TO THE DATE (THE “RESALE
RESTRICTION TERMINATION DATE”) THAT IS 40 DAYS AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF AND THE DATE ON WHICH THIS SECURITY (OR ANY PREDECESSOR OF SUCH SECURITY) WAS FIRST OFFERED TO PERSONS OTHER THAN DISTRIBUTORS (AS DEFINED IN RULE
902 OF REGULATION S) IN RELIANCE ON REGULATION S, ONLY (A) TO THE COMPANY OR ANY SUBSIDIARY THEREOF, (B) PURSUANT TO A REGISTRATION STATEMENT THAT HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (C) FOR SO LONG AS THE SECURITIES
ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”), TO A PERSON IT REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE
ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (D) PURSUANT TO OFFERS AND SALES TO NON-U.S. PERSONS THAT OCCUR OUTSIDE THE UNITED STATES WITHIN THE MEANING OF
REGULATION S UNDER THE SECURITIES ACT, (E) TO AN INSTITUTIONAL “ACCREDITED INVESTOR” WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) UNDER THE SECURITIES ACT THAT IS NOT A QUALIFIED INSTITUTIONAL BUYER AND THAT IS
PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF ANOTHER INSTITUTIONAL ACCREDITED INVESTOR, IN EACH CASE IN A MINIMUM PRINCIPAL AMOUNT OF SECURITIES OR (F) PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE
SECURITIES ACT, SUBJECT TO THE COMPANY’S AND THE TRUSTEE’S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO CLAUSES (D), (E) OR (F) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/ OR OTHER
INFORMATION SATISFACTORY TO EACH OF THEM. THIS LEGEND WILL BE REMOVED UPON THE REQUEST OF THE HOLDER AFTER THE RESALE RESTRICTION TERMINATION DATE. BY ITS ACQUISITION HEREOF, THE HOLDER HEREOF REPRESENTS THAT IT IS NOT A U.S. PERSON NOR IS IT
PURCHASING FOR THE ACCOUNT OF A U.S. PERSON AND IS ACQUIRING THIS SECURITY IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH REGULATION S UNDER THE SECURITIES ACT. 

BY ACQUIRING THIS NOTE OR ANY INTEREST THEREIN, EACH HOLDER AND EACH TRANSFEREE IS DEEMED TO REPRESENT, WARRANT AND AGREE THAT AT THE TIME OF
ITS ACQUISITION AND THROUGHOUT THE PERIOD THAT IT HOLDS THIS NOTE OR ANY INTEREST THEREIN: (1) EITHER (A) IT IS NOT ACQUIRING THE NOTE OR ANY INTEREST THEREIN FOR OR ON BEHALF OF (AND FOR SO LONG AS IT HOLDS THIS NOTE OR ANY INTEREST
THEREIN WILL NOT BE AND WILL NOT BE ACTING ON BEHALF OF) (I) ANY EMPLOYEE BENEFIT PLAN (AS DEFINED IN SECTION 3(3) OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”)) THAT IS SUBJECT TO TITLE I OF ERISA, (II)
ANY “PLAN” (AS DEFINED IN SECTION 4975(e)(1) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (“CODE”)) THAT IS SUBJECT TO SECTION 4975 OF THE CODE (INCLUDING AN INDIVIDUAL RETIREMENT ACCOUNT UNDER SECTION 408 OF THE CODE), OR
(III) ANY ENTITY OF WHICH THE UNDERLYING ASSETS ARE CONSIDERED TO INCLUDE “PLAN ASSETS” OF ANY PLANS DESCRIBED IN THE FOREGOING CLAUSES (I) OR (II) (AS DETERMINED PURSUANT TO U.S. DEPARTMENT OF LABOR REGULATIONS, AS MODIFIED BY
SECTION 3(42) OF ERISA), OR (IV) ANY PLAN, SUCH AS A FOREIGN PLAN, GOVERNMENTAL PLAN (AS DEFINED IN SECTION 3(32) OF ERISA) OR CHURCH PLAN (AS DEFINED IN SECTION 3(33) OF ERISA) THAT IS NOT SUBJECT TO TITLE I OF ERISA, BUT THAT IS SUBJECT TO ANY
FEDERAL, STATE, LOCAL, FOREIGN OR OTHER LAWS OR REGULATIONS THAT ARE SIMILAR TO TITLE I OF ERISA OR SECTION 4975 OF THE CODE (EACH, A “SIMILAR LAW”), OR (B) THE ACQUISITION, HOLDING AND DISPOSITION OF THIS NOTE OR ANY INTEREST THEREIN
WILL NOT CONSTITUTE A NONEXEMPT PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE OR A VIOLATION UNDER ANY PROVISION OF A SIMILAR LAW; AND (2) IT WILL NOT SELL OR OTHERWISE TRANSFER THIS NOTE OR ANY INTEREST THEREIN
OTHER THAN TO A PURCHASER OR TRANSFEREE THAT IS DEEMED TO MAKE THESE SAME REPRESENTATIONS, WARRANTIES AND AGREEMENTS WITH RESPECT TO ITS ACQUISITION, HOLDING AND DISPOSITION OF THIS NOTE. 

  
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 The Temporary Regulation S Global Note shall bear the following additional legend on the face
thereof: 
 THIS NOTE IS A TEMPORARY GLOBAL NOTE. PRIOR TO THE EXPIRATION OF THE RESTRICTED PERIOD APPLICABLE HERETO, BENEFICIAL INTERESTS
HEREIN MAY NOT BE HELD BY ANY PERSON OTHER THAN (1) A NON-U.S. PERSON OR (2) A U.S. PERSON THAT PURCHASED SUCH INTEREST IN A TRANSACTION EXEMPT FROM REGISTRATION UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”). BENEFICIAL INTERESTS HEREIN ARE NOT EXCHANGEABLE FOR PHYSICAL NOTES OTHER THAN A PERMANENT GLOBAL NOTE IN ACCORDANCE WITH THE TERMS OF THE INDENTURE. TERMS IN THIS LEGEND ARE USED AS USED IN REGULATION S UNDER THE SECURITIES ACT. 

(3) Each Global Note, whether or not an Initial Note, shall bear the following legend on the face thereof: 

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”),
NEW YORK, NEW YORK, TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF
DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE
REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN
WHOLE, BUT NOT IN PART, TO DTC, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE
INDENTURE REFERRED TO ON THE REVERSE HEREOF. 
 Each Note issued hereunder that has more than a de minimis amount of original issue discount for U.S.
federal income tax purposes shall bear a legend in substantially the following form: 
 THIS NOTE IS ISSUED WITH ORIGINAL ISSUE DISCOUNT FOR
PURPOSES OF SECTION 1271 ET SEQ. OF THE INTERNAL REVENUE CODE. A HOLDER MAY OBTAIN THE ISSUE PRICE, AMOUNT OF ORIGINAL ISSUE DISCOUNT, ISSUE DATE AND YIELD TO MATURITY FOR SUCH NOTE BY SUBMITTING A WRITTEN REQUEST FOR SUCH INFORMATION TO: 

Allied Specialty Vehicles, Inc. 

4776 New Broad Street 
 Orlando,
Florida 32814 
 Attention: Chief Financial Officer 

(e) Book-Entry Provisions. 

(1) This Section 2.1(e) shall apply only to Global Notes deposited with the Trustee, as custodian for DTC. 

(2) Each Global Note initially shall (x) be registered in the name of DTC or the nominee of DTC, (y) be delivered to the Trustee as
custodian for DTC and (z) bear legends as set forth in Section 2.1(d). Transfers of a Global Note (but not a beneficial interest therein) will be limited to transfers thereof in whole, but not in part, to

  
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DTC, its successors or their respective nominees, except as set forth in Section 2.1(e)(5) and 2.1(f). If a beneficial interest in a Global Note is transferred or exchanged for
a beneficial interest in another Global Note, the Trustee will (x) record a decrease in the principal amount of the Global Note being transferred or exchanged equal to the principal amount of such transfer or exchange and (y) record a like
increase in the principal amount of the other Global Note. Any beneficial interest in one Global Note that is transferred to a Person who takes delivery in the form of an interest in another Global Note, or exchanged for an interest in another
Global Note, will, upon transfer or exchange, cease to be an interest in such Global Note and become an interest in the other Global Note and, accordingly, will thereafter be subject to all transfer and exchange restrictions, if any, and other
procedures applicable to beneficial interests in such other Global Note for as long as it remains such an interest. 
 (3) Members of, or
participants in, DTC (“Agent Members”) shall have no rights under this Indenture with respect to any Global Note held on their behalf by DTC or by the Trustee as the custodian of DTC or under such Global Note, and DTC shall
be treated by the Company, the Trustee and any agent of the Company or the Trustee as the absolute owner of such Global Note for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Company, the Trustee or any
agent of the Company or the Trustee from giving effect to any written certification, proxy or other authorization furnished by DTC or impair, as between DTC and its Agent Members, the operation of customary practices of DTC governing the exercise of
the rights of a holder of a beneficial interest in any Global Note. 
 (4) In connection with any transfer of a portion of the beneficial
interest in a Global Note pursuant to Section 2.1(f) to beneficial owners who are required to hold Definitive Notes, the Notes Custodian shall reflect on its books and records the date and a decrease in the principal amount of such
Global Note in an amount equal to the principal amount of the beneficial interest in the Global Note to be transferred, and the Company shall execute, and the Trustee shall authenticate and make available for delivery, one or more Definitive Notes
of like tenor and amount. 
 (5) In connection with the transfer of an entire Global Note to beneficial owners pursuant to
Section 2.1(f), such Global Note shall be deemed to be surrendered to the Trustee for cancellation, and the Company shall execute, and the Trustee shall authenticate and make available for delivery, to each beneficial owner identified by
DTC in exchange for its beneficial interest in such Global Note, an equal aggregate principal amount of Definitive Notes of authorized denominations. 

(6) The registered Holder of a Global Note may grant proxies and otherwise authorize any person, including Agent Members and persons that may
hold interests through Agent Members, to take any action which a Holder is entitled to take under this Indenture or the Notes. 
 (7) Any
Holder of a Global Note shall, by acceptance of such Global Note, agree that transfers of beneficial interests in such Global Note may be effected only through a book-entry system maintained by (a) the Holder of such Global Note (or its agent)
or (b) any holder of a beneficial interest in such Global Note, and that ownership of a beneficial interest in such Global Note shall be required to be reflected in a book entry. 

(f) Definitive Notes. 

(1) Except as provided below, owners of beneficial interests in Global Notes will not be entitled to receive Definitive Notes. If required to
do so pursuant to any applicable law or regulation, beneficial owners may obtain Definitive Notes in exchange for their beneficial interests in a Global Note upon written request in accordance with DTC’s and the Registrar’s procedures. In
addition, Definitive Notes shall be transferred to all beneficial owners in exchange for their beneficial interests in a Global Note if (A) DTC notifies the Company that it is unwilling or unable to continue as depositary for such Global Note
or DTC ceases to be a clearing agency registered under the Exchange Act, at a time when DTC is required to be so registered in order to act as depositary, and in each case a successor depositary is not appointed by the Company within 120 days of
such notice, (B) the Company in its sole discretion executes and delivers to the Trustee and Registrar an Officer’s Certificate stating that such Global Note shall be so exchangeable or (C) an Event of Default has occurred and is
continuing and the Registrar has received a request from DTC. In the event of the occurrence of any of the events specified in the second preceding sentence or in clause (A), (B) or (C) of the preceding sentence, the Company shall promptly
make available to the Trustee a reasonable supply of Definitive Notes. 

  
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 (2) Any Definitive Note delivered in exchange for an interest in a Global Note pursuant to
Section 2.1(e)(4) shall, (i) except as otherwise provided by Section 2.6(d), bear the applicable legend regarding transfer restrictions applicable to the Definitive Note set forth in Section 2.1(d) and
(ii) be registered in the name of the Holder of the Definitive Note. 
 (3) If a Definitive Note is transferred or exchanged for a
beneficial interest in a Global Note, the Trustee will (x) cancel such Definitive Note, (y) record an increase in the principal amount of such Global Note equal to the principal amount of such transfer or exchange and (z) in the event
that such transfer or exchange involves less than the entire principal amount of the canceled certificated Note, the Company shall execute, and the Trustee shall authenticate and make available for delivery, to the transferring Holder a new
Definitive Note representing the principal amount not so transferred. 
 (4) If a Definitive Note is transferred or exchanged for another
Definitive Note, (x) the Trustee will cancel the Definitive Note being transferred or exchanged, (y) the Company shall execute, and the Trustee shall authenticate and make available for delivery, one or more new Definitive Notes in
authorized denominations having an aggregate principal amount equal to the principal amount of such transfer or exchange to the transferee (in the case of a transfer) or the Holder of the canceled Definitive Note (in the case of an exchange),
registered in the name of such transferee or Holder, as applicable, and (z) if such transfer or exchange involves less than the entire principal amount of the canceled Definitive Note, the Company shall execute, and the Trustee shall
authenticate and make available for delivery to the Holder thereof, one or more Definitive Notes in authorized denominations having an aggregate principal amount equal to the untransferred or unexchanged portion of the canceled Definitive Notes,
registered in the name of the Holder thereof. 
 (5) Notwithstanding anything to the contrary in this Indenture, in no event shall a
Definitive Note be delivered upon exchange or transfer of a beneficial interest in the Temporary Regulation S Global Note prior to (x) the end of the Restricted Period and (y) the receipt of any certificates required under the provisions
of Regulation S. 
 SECTION 2.2. Execution and Authentication. One Officer shall sign the Notes for the Company by manual, facsimile
or electronic (including “pdf”) signature. If the Officer whose signature is on a Note no longer holds that office at the time the Trustee authenticates the Note, the Note shall be valid nevertheless. 

A Note shall not be valid until an authorized officer of the Trustee manually authenticates the Note. The signature of the Trustee on a Note
shall be conclusive evidence that such Note has been duly and validly authenticated and issued under this Indenture. A Note shall be dated the date of its authentication. 

At any time and from time to time after the execution and delivery of this Indenture, the Trustee shall authenticate and make available for
delivery: (1) Initial Notes for original issue on the Issue Date in an aggregate principal amount of $200,000,000, (2) subject to the terms of this Indenture, Additional Notes for original issue in an unlimited principal amount and
(3) under the circumstances set forth in Section 2.6(e), Initial Notes in the form of an Unrestricted Global Note, in each case upon a written order of the Company signed by one Officer of the Company (the “Company
Order”). Such Company Order shall specify whether the Notes will be in the form of Definitive Notes or Global Notes, the amount of the Notes to be authenticated and the date on which the original issue of Notes is to be authenticated
and whether the Notes are to be Initial Notes or Additional Notes. 
 The Trustee may appoint an agent (the “Authenticating
Agent”) reasonably acceptable to the Company to authenticate the Notes. Any such appointment shall be evidenced by an instrument signed by a Trust Officer, a copy of which shall be furnished to the Company. Unless limited by the terms
of such appointment, any such Authenticating Agent may authenticate Notes whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by the Authenticating Agent. An Authenticating Agent
has the same rights as any Registrar, Paying Agent or agent for service of notices and demands. 

  
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 In case the Company or any Guarantor, pursuant to Article IV or Section 10.2
as applicable, shall be consolidated or merged with or into any other Person or shall convey, transfer, lease or otherwise dispose of its properties and assets substantially as an entirety to any Person, and the successor Person resulting from such
consolidation, or surviving such merger, or into which the Company or any Guarantor shall have been merged, or the Person which shall have received a conveyance, transfer, lease or other disposition as aforesaid, shall have executed an indenture
supplemental hereto with the Trustee pursuant to Article IV, as applicable, any of the Notes authenticated or delivered prior to such consolidation, merger, conveyance, transfer, lease or other disposition may, from time to time, at the
request of the successor Person, be exchanged for other Notes executed in the name of the successor Person with such changes in phraseology and form as may be appropriate, but otherwise in substance of like tenor as the Notes surrendered for such
exchange and of like principal amount; and the Trustee, upon Company Order of the successor Person, shall authenticate and make available for delivery Notes as specified in such order for the purpose of such exchange. If Notes shall at any time be
authenticated and delivered in any new name of a successor Person pursuant to this Section 2.2 in exchange or substitution for or upon registration of transfer of any Notes, such successor Person, at the option of the Holders but without
expense to them, shall provide for the exchange of all Notes at the time outstanding for Notes authenticated and delivered in such new name. 

SECTION 2.3. Registrar and Paying Agent. The Company shall maintain in the Borough of Manhattan, The City of New York, New York an
office or agency where Notes may be presented for registration of transfer or for exchange (the “Registrar”) and an office or agency where Notes may be presented for payment (the “Paying Agent”). The
Registrar shall keep a register of the Notes and of their transfer and exchange (the “Notes Register”). The Company may have one or more co-registrars and one or more additional paying agents. The term “Paying
Agent” includes any additional paying agent and the term “Registrar” includes any co-registrar. 
 The Company shall enter
into an appropriate agency agreement with any Registrar or Paying Agent not a party to this Indenture. The agreement shall implement the provisions of this Indenture that relate to such agent. The Company shall notify the Trustee in writing of the
name and address of each such agent. If the Company fails to maintain a Registrar or Paying Agent, the Trustee shall act as such and shall be entitled to appropriate compensation therefor pursuant to Section 7.7. The Company or any of
its wholly owned Restricted Subsidiaries organized in the Unites States may act as Paying Agent, Registrar or transfer agent. 
 The Company
initially appoints the Trustee as Registrar and Paying Agent for the Notes. The Company may remove any Registrar or Paying Agent without prior notice to the Holders, but upon written notice to such Registrar or Paying Agent and to the Trustee;
provided, however, that no such removal shall become effective until (i) acceptance of any appointment by a successor as evidenced by an appropriate agreement entered into by the Company and such successor Registrar or Paying Agent,
as the case may be, and delivered to the Trustee or (ii) notification to the Trustee that the Trustee shall serve as Registrar or Paying Agent until the appointment of a successor in accordance with clause (i) above. The Registrar or
Paying Agent may resign at any time upon written notice to the Company and the Trustee. 
 SECTION 2.4. Paying Agent to Hold Money in
Trust. By no later than 10:00 a.m. (New York City time) on the date on which any principal of, premium, if any, or interest on any Note is due and payable, the Company shall deposit with the Paying Agent a sum sufficient in immediately available
funds to pay such principal, premium or interest when due. The Company shall require each Paying Agent (other than the Trustee) to agree in writing that such Paying Agent shall hold in trust for the benefit of Holders or the Trustee all money held
by such Paying Agent for the payment of principal of, premium, if any, or interest on the Notes (whether such assets have been distributed to it by the Company or other obligors on the Notes), shall notify the Trustee in writing of any default by
the Company or any Guarantor in making any such payment and shall during the continuance of any default by the Company (or any other obligor upon the Notes) in the making of any payment in respect of the Notes, upon the written request of the
Trustee, forthwith deliver to the Trustee all sums held in trust by such Paying Agent for payment in respect of the Notes together with a full accounting thereof. If the Company or a Subsidiary of the Company acts as Paying Agent, it shall segregate
the money held by it as Paying Agent and hold it as a separate trust fund. The Company at any time may require a Paying Agent (other than the Trustee) to pay all money held by it to the Trustee and to account for any funds or assets disbursed by
such Paying Agent. Upon complying with this Section 2.4 the Paying Agent (if other than the Company or a Subsidiary of the Company) shall have no further liability for the money delivered to the Trustee. Upon any bankruptcy,
reorganization or similar proceeding with respect to the Company, the Trustee shall serve as Paying Agent for the Notes. 

  
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 SECTION 2.5. Holder Lists. The Trustee shall preserve in as current a form as is
reasonably practicable the most recent list available and known to it of the names and addresses of Holders. If the Trustee is not the Registrar, or to the extent otherwise required under the TIA, the Company, on its own behalf and on behalf of each
of the Guarantors, shall furnish or cause the Registrar to furnish to the Trustee, in writing at least five Business Days before each interest payment date and at such other times as the Trustee may request in writing, a list in such form and as of
such date as the Trustee may reasonably require of the names and addresses of Holders. 
 SECTION 2.6. Transfer and Exchange. 

(a) A Holder may transfer a Note (or a beneficial interest therein) to another Person or exchange a Note (or a beneficial interest therein) for
another Note or Notes of any authorized denomination by presenting to the Trustee a written request therefor stating the name of the proposed transferee or requesting such an exchange, accompanied by any certification, opinion or other document
required by this Section 2.6. The Trustee will promptly register any transfer or exchange that meets the requirements of this Section 2.6 by noting the same in the register maintained by the Trustee for the purpose, and no
transfer or exchange will be effective until it is registered in such register. The transfer or exchange of any Note (or a beneficial interest therein) may only be made in accordance with this Section 2.6 and Section 2.1(e)
and 2.1(f), as applicable, and, in the case of a Global Note (or a beneficial interest therein), the applicable rules and procedures of DTC, Euroclear and Clearstream. The Trustee shall refuse to register any requested transfer or exchange
that does not comply with this paragraph. 
 (b) Transfers of Rule 144A Notes. The following provisions shall apply with respect to
any proposed registration of transfer of a Rule 144A Note prior to the date which is one year after the later of the date of its original issue and the last date on which the Company or any Affiliate of the Company was the owner of such Notes or the
relevant beneficial interest therein (or any predecessor thereto) (the “Resale Restriction Termination Date”): 

(1) a registration of transfer of a Rule 144A Note or a beneficial interest therein to a QIB shall be made upon the representation of the
transferee in the form as set forth on the reverse of the Note that it is purchasing for its own account or an account with respect to which it exercises sole investment discretion and that it and any such account is a “qualified institutional
buyer” within the meaning of Rule 144A, and is aware that the sale to it is being made in reliance on Rule 144A and acknowledges that it has received such information regarding the Company as the undersigned has requested pursuant to Rule 144A
or has determined not to request such information and that it is aware that the transferor is relying upon its foregoing representations in order to claim the exemption from registration provided by Rule 144A; provided that no such written
representation or other written certification shall be required in connection with the transfer of a beneficial interest in the Rule 144A Global Note to a transferee in the form of a beneficial interest in that Rule 144A Global Note in accordance
with this Indenture and the applicable procedures of DTC; and 
 (2) a registration of transfer of a Rule 144A Note or a beneficial interest
therein to a Non U.S. Person shall be made upon receipt by the Trustee or its agent of a certificate substantially in the form set forth in Exhibit E from the proposed transferee and, if requested by the Company, the delivery of an opinion of
counsel, certification and/or other information satisfactory to it. 
 (c) Transfers of Regulations S Notes. The following provisions
shall apply with respect to any proposed transfer of a Regulation S Note prior to the expiration of the Restricted Period: 
 (1) a transfer
of a Regulation S Note or a beneficial interest therein to a QIB shall be made upon the representation of the transferee, in the form of assignment on the reverse of the certificate, that it is purchasing the Note for its own account or an account
with respect to which it exercises sole investment discretion and that it and any such account is a “qualified institutional buyer” within the meaning of Rule 144A, is aware that the sale to it is being made in reliance on Rule 144A and
acknowledges that it has received such information regarding the Company as the undersigned has requested pursuant to Rule 144A or has determined not to request such information and that it is aware that the transferor is relying upon its foregoing
representations in order to claim the exemption from registration provided by Rule 144A; and 

  
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 (2) a transfer of a Regulation S Note or a beneficial interest therein to a Non-U.S. Person shall
be made upon receipt by the Trustee or its agent of a certificate substantially in the form set forth in Exhibit E hereof from the proposed transferee and, if requested by the Company, receipt by the Trustee or its agent of an opinion of
counsel, certification and/or other information satisfactory to the Company. 
 After the expiration of the Restricted Period, interests in
the Regulation S Note may be transferred in accordance with applicable law without requiring the certification set forth in Exhibit E or any additional certification. 

(d) Restricted Notes Legend. Upon the transfer, exchange or replacement of Notes not bearing a Restricted Notes Legend, the Registrar
shall deliver Notes that do not bear a Restricted Notes Legend. Upon the transfer, exchange or replacement of Notes bearing a Restricted Notes Legend, the Registrar shall deliver only Notes that bear a Restricted Notes Legend unless (i) an
Initial Note is being transferred pursuant to an effective registration statement, (ii) Initial Notes are being exchanged for Notes that do not bear the Restricted Notes Legend in accordance with Section 2.6(e) or (iii) there
is delivered to the Registrar an Opinion of Counsel reasonably satisfactory to the Company and the Trustee to the effect that neither such legend nor the related restrictions on transfer are required in order to maintain compliance with the
provisions of the Securities Act. Any Additional Notes sold in a registered offering shall not be required to bear the Restricted Notes Legend. 

(e) [Reserved]. 
 (f)
Retention of Written Communications. The Registrar shall retain copies of all letters, notices and other written communications received pursuant to Section 2.1 or this Section 2.6. The Company shall have the right to
inspect and make copies of all such letters, notices or other written communications at any reasonable time upon the giving of reasonable prior written notice to the Registrar. 

(g) Obligations with Respect to Transfers and Exchanges of Notes. 

(1) To permit registrations of transfers and exchanges, the Company shall, subject to the other terms and conditions of this Article II,
execute and the Trustee shall authenticate Definitive Notes and Global Notes at the Registrar’s request. 
 (2) No service charge shall
be made to a Holder for any registration of transfer or exchange, but the Company may require the Holder to pay a sum sufficient to cover any transfer tax assessments or similar governmental charge payable in connection therewith (other than any
such transfer taxes, assessments or similar governmental charges payable upon exchange or transfer pursuant to Section 2.2, 2.6, 2.10, 2.12, 3.5, 3.10, 5.6 or 9.5). 

(3) The Company (and the Registrar) shall not be required to register the transfer of or exchange of any Note (A) for a period beginning
(1) 15 days before the mailing of a notice of an offer to repurchase or redeem Notes and ending at the close of business on the day of such mailing or (2) 15 days before an interest payment date and ending on such interest payment date or
(B) called for redemption, except the unredeemed portion of any Note being redeemed in part. 
 (4) Prior to the due presentation for
registration of transfer of any Note, the Company, the Trustee, the Paying Agent or the Registrar may deem and treat the person in whose name a Note is registered as the owner of such Note for the purpose of receiving payment of principal of,
premium, if any, and (subject to paragraph 2 of the forms of Notes attached hereto as Exhibit A and a) interest on such Note and for all other purposes whatsoever, including without limitation the transfer or exchange of such Note, whether or
not such Note is overdue, and none of the Company, the Trustee, the Paying Agent or the Registrar shall be affected by notice to the contrary. 

  
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 (5) Any Definitive Note delivered in exchange for an interest in a Global Note pursuant to
Section 2.1(f) shall, except as otherwise provided by Section 2.6(d), bear the applicable legend regarding transfer restrictions applicable to the Definitive Note set forth in Section 2.1(d). 

(6) All Notes issued upon any transfer or exchange pursuant to the terms of this Indenture shall evidence the same debt and shall be entitled
to the same benefits under this Indenture as the Notes surrendered upon such transfer or exchange. 
 (h) No Obligation of the
Trustee. 
 (1) The Trustee shall have no responsibility or obligation to any beneficial owner of a Global Note, a member of, or a
participant in, DTC or other Person with respect to the accuracy of the records of DTC or its nominee or of any participant or member thereof, with respect to any ownership interest in the Notes or with respect to the delivery to any participant,
member, beneficial owner or other Person (other than DTC) of any notice (including any notice of redemption or purchase) or the payment of any amount or delivery of any Notes (or other security or property) under or with respect to such Notes. All
notices and communications to be given to the Holders and all payments to be made to Holders in respect of the Notes shall be given or made only to the registered Holders (which shall be DTC or its nominee in the case of a Global Note). The rights
of beneficial owners in any Global Note shall be exercised only through DTC subject to the applicable rules and procedures of DTC. The Trustee may rely and shall be fully protected in relying upon information furnished by DTC with respect to its
members, participants and any beneficial owners. 
 (2) The Trustee shall have no obligation or duty to monitor, determine or inquire as to
compliance with any restrictions on transfer imposed under this Indenture or under applicable law with respect to any transfer of any interest in any Note (including any transfers between or among DTC participants, members or beneficial owners in
any Global Note) other than to require delivery of such certificates and other documentation or evidence as are expressly required by, and to do so if and when expressly required by, the terms of this Indenture, and to examine the same to determine
substantial compliance as to form with the express requirements hereof. 
 (i) Affiliate Holders. By accepting a beneficial interest
in a Global Note, any Person that is an Affiliate of the Company agrees to give notice to the Company, the Trustee and the Registrar of the acquisition and its Affiliate status. 

SECTION 2.7. [Reserved]. 

SECTION 2.8. [Reserved]. 

SECTION 2.9. [Reserved]. 

SECTION 2.10. Mutilated, Destroyed, Lost or Stolen Notes. If a mutilated Note is surrendered to the Registrar or if the Holder of a
Note claims that the Note has been lost, destroyed or wrongfully taken, the Company shall issue and the Trustee shall authenticate a replacement Note if the requirements of Section 8-405 of the Uniform Commercial Code are met, such that the
Holder (a) satisfies the Company or the Trustee that such Note has been lost, destroyed or wrongfully taken within a reasonable time after such Holder has notice of such loss, destruction or wrongful taking and the Registrar has not registered
a transfer prior to receiving such notification, (b) makes such request to the Company or Trustee prior to the Note being acquired by a protected purchaser as defined in Section 8-303 of the Uniform Commercial Code (a “protected
purchaser”) and (c) satisfies any other reasonable requirements of the Trustee; provided, however, if after the delivery of such replacement Note, a protected purchaser of the Note for which such replacement Note was
issued presents for payment or registration such replaced Note, the Trustee or the Company shall be entitled to recover such replacement Note from the Person to whom it was issued and delivered or any Person taking therefrom, except a protected
purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense incurred by the Company or the Trustee in connection therewith. Such Holder shall furnish an indemnity
bond sufficient in the judgment of the Company and the Trustee to protect the Company, the Trustee, the Paying Agent and the Registrar from any loss which any of them may suffer if a Note is replaced, and, in the absence of notice to the Company,
any Guarantor or 

  
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the Trustee that such Note has been acquired by a protected purchaser, the Company shall execute, and upon receipt of a Company Order the Trustee shall authenticate and make available for
delivery, in exchange for any such mutilated Note or in lieu of any such destroyed, lost or stolen Note, a new Note of like tenor and principal amount, bearing a number not contemporaneously outstanding. 

In case any such mutilated, destroyed, lost or stolen Note has become or is about to become due and payable, the Company in its discretion
may, instead of issuing a new Note, pay such Note. 
 Upon the issuance of any new Note under this Section 2.10, the Company may
require that such Holder pay a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of counsel and of the Trustee) in connection therewith. 

Subject to the proviso in the initial paragraph of this Section 2.10 every new Note issued pursuant to this Section in lieu of any
mutilated, destroyed, lost or stolen Note shall constitute an original additional contractual obligation of the Company, any Guarantor (if applicable) and any other obligor upon the Notes, whether or not the mutilated, destroyed, lost or stolen Note
shall be at any time enforceable by anyone, and shall be entitled to all benefits of this Indenture equally and proportionately with any and all other Notes duly issued hereunder. 

The provisions of this Section 2.10 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with
respect to the replacement or payment of mutilated, destroyed, lost or stolen Notes. 
 SECTION 2.11. Outstanding Notes. Notes
outstanding at any time are all Notes authenticated by the Trustee except for those cancelled by it, those delivered to it for cancellation and those described in this Section as not outstanding. A Note does not cease to be outstanding in the event
the Company or an Affiliate of the Company holds the Note; provided, however, that in determining whether the Trustee shall be protected in making a determination whether the Holders of the requisite principal amount of outstanding
Notes are present at a meeting of Holders for quorum purposes or have consented to or voted in favor of any request, demand, authorization, direction, notice, consent, waiver, amendment or modification hereunder, or relying upon any such quorum,
consent or vote, only Notes which a Trust Officer of the Trustee actually knows to be held by the Company or a Subsidiary of the Company shall not be considered outstanding. If a Note is replaced pursuant to Section 2.10 (other than a
mutilated Note surrendered for replacement), it ceases to be outstanding unless the Trustee and the Company receive proof satisfactory to them that the replaced Note is held by a protected purchaser. A mutilated Note ceases to be outstanding upon
surrender of such Note and replacement pursuant to Section 2.10. 
 If the Paying Agent segregates and holds in trust, in
accordance with this Indenture, on a Redemption Date or maturity date money sufficient to pay all principal, premium, if any, and accrued interest payable on that date with respect to the Notes (or portions thereof) to be redeemed or maturing, as
the case may be, and the Paying Agent is not prohibited from paying such money to the Holders on that date pursuant to the terms of this Indenture, then on and after that date such Notes (or portions thereof) cease to be outstanding and interest on
them ceases to accrue. 
 SECTION 2.12. Temporary Notes. In the event that Definitive Notes are to be issued under the terms of this
Indenture, until such Definitive Notes are ready for delivery, the Company may prepare and the Trustee shall authenticate temporary Notes, which shall be maintained in registered form in accordance with Section 2.3. Temporary Notes shall
be substantially in the form, and shall carry all rights, of Definitive Notes but may have variations that the Company considers appropriate for temporary Notes. Without unreasonable delay, the Company shall prepare and the Trustee shall
authenticate Definitive Notes. After the preparation of Definitive Notes, the temporary Notes shall be exchangeable for Definitive Notes upon surrender of the temporary Notes at any office or agency maintained by the Company for that purpose and
such exchange shall be without charge to the Holder. Upon surrender for cancellation of any one or more temporary Notes, the Company shall execute, and the Trustee shall authenticate and make available for delivery in exchange therefor, one or more
Definitive Notes representing an equal principal amount of Notes. Until so exchanged, the Holder of temporary Notes shall in all respects be entitled to the same benefits under this Indenture as a Holder of Definitive Notes. 

SECTION 2.13. Cancellation. The Company at any time may deliver Notes to the Trustee for cancellation. The Registrar and the Paying
Agent shall forward to the Trustee any Notes surrendered to them for registration 

  
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of transfer, exchange or payment. The Trustee and no one else shall cancel all Notes surrendered for registration of transfer, exchange, payment or cancellation and dispose of such Notes in
accordance with its internal policies and customary procedures including delivery of evidence of disposal (subject to the record retention requirements of the Exchange Act) upon the Company’s written request. If the Company or any Guarantor
acquires any of the Notes, such acquisition shall not operate as a redemption or satisfaction of the Indebtedness represented by such Notes unless and until the same are surrendered to the Trustee for cancellation pursuant to this
Section 2.13. The Company may not issue new Notes to replace Notes it has paid or delivered to the Trustee for cancellation for any reason other than in connection with a transfer or exchange. 

At such time as all beneficial interests in a Global Note have either been exchanged for Definitive Notes, transferred, redeemed, repurchased
or canceled, such Global Note shall be returned by DTC to the Trustee for cancellation or retained and canceled by the Trustee. At any time prior to such cancellation, if any beneficial interest in a Global Note is exchanged for Definitive Notes,
transferred in exchange for an interest in another Global Note, redeemed, repurchased or canceled, the principal amount of Notes represented by such Global Note shall be reduced and an adjustment shall be made on the books and records of the Trustee
(if it is then the Notes Custodian for such Global Note) with respect to such Global Note, by the Trustee or the Notes Custodian, to reflect such reduction. 

SECTION 2.14. Payment of Interest. Defaulted Interest. Interest on any Note which is payable, and is punctually paid or duly provided
for, on any interest payment date shall be paid to the Person in whose name such Note (or one or more predecessor Notes) is registered at the close of business on the regular record date for such payment at the office or agency of the Company
maintained for such purpose pursuant to Section 2.3. 
 Any interest on any Note which is payable, but is not paid when the same
becomes due and payable and such nonpayment continues for a period of 30 days shall forthwith cease to be payable to the Holder on the regular record date, and such defaulted interest and (to the extent lawful) interest on such defaulted interest at
the rate borne by the Notes (such defaulted interest and interest thereon herein collectively called “Defaulted Interest”) shall be paid by the Company, at its election in each case, as provided in clause (a) or
(b) below: 
 (a) The Company may elect to make payment of any Defaulted Interest to the Persons in whose names the
Notes (or their respective predecessor Notes) are registered at the close of business on a Special Record Date (as defined below) for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Company shall notify the
Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note and the date (not less than 25 days after such notice) of the proposed payment (the “Special Interest Payment Date”), and at the same
time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of
the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Company shall fix a record date (the “Special Record
Date”) for the payment of such Defaulted Interest, which date shall be not more than 15 days and not less than 10 days prior to the Special Interest Payment Date and not less than 10 days after the receipt by the Trustee of the notice
of the proposed payment. The Company shall promptly notify the Trustee in writing of such Special Record Date, and in the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and
the Special Record Date and Special Interest Payment Date therefor to be given in the manner provided for in Section 13.1, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest
and the Special Record Date and Special Interest Payment Date therefor having been so given, such Defaulted Interest shall be paid on the Special Interest Payment Date to the Persons in whose names the Notes (or their respective predecessor Notes)
are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (b). 

(b) The Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of
any securities exchange on which the Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be
deemed practicable by the Trustee. 

  
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 Subject to the foregoing provisions of this Section 2.14, each Note delivered under
this Indenture upon registration of, transfer of or in exchange for or in lieu of any other Note shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Note. 

SECTION 2.15. Computation of Interest. Interest on the Notes shall be computed on the basis of a 360-day year of twelve 30-day months.

 SECTION 2.16. CUSIP, Common Code and ISIN Numbers. The Company in issuing the Notes may use “CUSIP”, “Common
Code” and “ISIN” numbers and, if so, the Trustee shall use “CUSIP”, “Common Code” and “ISIN” numbers in notices of redemption or purchase as a convenience to Holders; provided, however, that
any such notice may state that no representation is made as to the correctness of such numbers either as printed on the Notes or as contained in any notice of a redemption or purchase and that reliance may be placed only on the other identification
numbers printed on the Notes, and any such redemption or purchase shall not be affected by any defect in or omission of such CUSIP, Common Code and ISIN numbers. The Company shall promptly notify the Trustee in writing of any change in the CUSIP,
Common Code and ISIN numbers. 
 ARTICLE III 

COVENANTS 
 SECTION 3.1.
Payment of Notes. The Company will pay or cause to be paid the principal of, premium, if any, and interest on, the Notes on the dates and in the manner provided in the Notes. Principal of, premium, if any, and interest on, the Notes will be
considered paid on the date due if the Paying Agent, if other than the Company or a Subsidiary thereof, holds as of 10:00 a.m. Eastern Time on the due date money deposited by the Company in immediately available funds and designated for and
sufficient to pay all principal, premium, if any, and interest then due. 
 The Company will pay interest (including post-petition interest
in any proceeding under any Bankruptcy Law) on overdue principal at the then applicable interest rate on the Notes to the extent lawful; it will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue
installments of interest (without regard to any applicable grace period) at the same rate to the extent lawful. 
 SECTION 3.2.
Incurrence of Indebtedness and Issuance of Disqualified Stock and Preferred Stock. 
 (a) The Company will not, and will not permit
any of its Restricted Subsidiaries to, directly or indirectly, create, incur, issue, assume, guarantee or otherwise become directly or indirectly liable, contingently or otherwise, with respect to (collectively, “incur”) any
Indebtedness (including Acquired Debt), and the Company will not issue any Disqualified Stock and will not permit any of its Restricted Subsidiaries to issue any shares of Preferred Stock; provided, however, that the Company may incur
Indebtedness (including Acquired Debt) or issue Disqualified Stock, and the Guarantors may incur Indebtedness (including Acquired Debt) or issue Preferred Stock, if the Fixed Charge Coverage Ratio for the Company’s most recently ended four full
fiscal quarters for which internal financial statements are available immediately preceding the date on which such additional Indebtedness is incurred or such Disqualified Stock or Preferred Stock is issued, as the case may be, would have been at
least 2.00 to 1.00, determined on a pro forma basis (including a pro forma application of the net proceeds therefrom), as if the additional Indebtedness had been incurred or the Disqualified Stock or Preferred Stock had been issued, as the case may
be, and the proceeds thereof applied at the beginning of such four-quarter period. 
 (b) The provisions of Section 3.2(a)
hereof will not prohibit the incurrence of any of the following items of Indebtedness (collectively, “Permitted Debt”): 

(1) the incurrence by the Company and any Restricted Subsidiaries of Indebtedness (including letters of credit) under Debt
Facilities in an aggregate principal amount at any one time outstanding under this clause (1) (with letters of credit being deemed to have a principal amount equal to the maximum potential liability of the Company and its Restricted
Subsidiaries thereunder) not to exceed (A) the greater of (i) $175.0 million less the aggregate amount of all Net Proceeds of Asset Dispositions applied by the Company or any of its Restricted Subsidiaries since the Issue Date to
permanently repay any Indebtedness 

  
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 under a Debt Facility (and, in the case of any revolving credit Indebtedness, to effect a
corresponding permanent commitment reduction thereunder) and (ii) the Borrowing Base; plus (B) in the event of any refinancing of such Indebtedness, the aggregate amount of fees, underwriting discounts, premiums and other costs and
expenses incurred in connection with such refinancing; 
 (2) the incurrence by the Company and the Guarantors of
Indebtedness represented by the Notes and the related Note Guarantees to be issued on the Issue Date; 
 (3) the incurrence
by the Company and its Restricted Subsidiaries of the Existing Indebtedness; 
 (4) the incurrence by the Company or any of
its Restricted Subsidiaries of Indebtedness represented by Capital Lease Obligations, mortgage financings or purchase money obligations, in each case, incurred within 360 days of the acquisition or completion of construction or installation for the
purpose of financing all or any part of the purchase price or cost of design, construction, installation or improvement of property, plant or equipment used in the business of the Company or any of its Restricted Subsidiaries, or Attributable Debt
relating to a sale and leaseback transaction, in an aggregate principal amount, including all Permitted Refinancing Indebtedness incurred to renew, refund, refinance, replace, defease or discharge any Indebtedness incurred pursuant to this clause
(4), not to exceed the greater of $25.0 million and 3.75% of Total Assets at any time outstanding; 
 (5) the incurrence by
the Company or any of its Restricted Subsidiaries of Permitted Refinancing Indebtedness in exchange for, or the net proceeds of which are used to renew, refund, refinance, replace, defease or discharge any Indebtedness (other than intercompany
Indebtedness) that was permitted by this Indenture to be incurred under Section 3.2(a) or clauses (2), (3), (5), (15) or (16) of this Section 3.2(b); 

(6) the incurrence by the Company or any of its Restricted Subsidiaries of intercompany Indebtedness between or among the
Company and any of its Restricted Subsidiaries; provided, however, that: 
 (A) if the Company or any Guarantor
is the obligor on such Indebtedness and the payee is not the Company or a Guarantor, such Indebtedness must be expressly subordinated to the prior payment in full in cash of all Obligations then due with respect to the Notes, in the case of the
Company, or the Note Guarantee, in the case of a Guarantor; and 
 (B) (i) any subsequent issuance or transfer of Equity
Interests that results in any such Indebtedness being held by a Person other than the Company or a Restricted Subsidiary of the Company and (ii) any sale or other transfer of any such Indebtedness to a Person that is not either the Company or a
Restricted Subsidiary of the Company, will be deemed, in each case, to constitute an incurrence of such Indebtedness by the Company or such Restricted Subsidiary, as the case may be, that was not permitted by this clause (6); 

(7) the issuance by any of the Company’s Restricted Subsidiaries to the Company or to any of its Restricted Subsidiaries
of shares of Preferred Stock; provided, however, that: 
 (A) any subsequent issuance or transfer of Equity
Interests that results in any such Preferred Stock being held by a Person other than the Company or a Restricted Subsidiary of the Company; and 

(B) any sale or other transfer of any such Preferred Stock to a Person that is not either the Company or a Restricted
Subsidiary of the Company, will be deemed, in each case, to constitute an issuance of such Preferred Stock by such Restricted Subsidiary that was not permitted by this clause (7); 

  
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 (8) the incurrence by the Company or any of its Restricted Subsidiaries of
Hedging Obligations in the ordinary course of business and not for speculative purposes; 
 (9) the guarantee by the Company
or any of the Restricted Subsidiaries of Indebtedness of the Company or a Restricted Subsidiary of the Company that was permitted to be incurred by another provision of this Section 3.2; provided that if the Indebtedness being
guaranteed is subordinated to or pari passu with the Notes, then the guarantee shall be subordinated or pari passu, as applicable, to the same extent as the Indebtedness guaranteed; 

(10) the incurrence by the Company or any of its Restricted Subsidiaries of Indebtedness in respect of reimbursement
obligations with respect to letters of credit, bank guarantees, banker’s acceptances, warehouse receipts, performance and surety bonds and other similar instruments issued or created in the ordinary course of business; including in respect of
workers’ compensation claims, health, disability or other employee benefits or property, casualty or liability insurance or self-insurance obligations; 

(11) Indebtedness arising from agreements of the Company or a Restricted Subsidiary of the Company providing for
indemnification, adjustment of purchase price, earn-out or other similar obligations, in each case, incurred or assumed in connection with the disposition of any business, assets or a Restricted Subsidiary of the Company, other than guarantees of
Indebtedness incurred by any Person acquiring all or any portion of such business, assets or Restricted Subsidiary for the purpose of financing such acquisition; provided that the maximum assumable liability in respect of all such
Indebtedness shall at no time exceed the gross proceeds actually received by the Company and its Restricted Subsidiaries in connection with such disposition; 

(12) Indebtedness of the Company’s Restricted Subsidiaries that are not Guarantors in an aggregate principal amount not to
exceed $10.0 million at any time outstanding; 
 (13) the incurrence by the Company or any of its Restricted Subsidiaries of
Indebtedness arising from the honoring by a bank or other financial institution of a check, draft or similar instrument inadvertently drawn against insufficient funds, so long as such Indebtedness is covered within five business days; 

(14) the incurrence by the Company or any of the Guarantors of Indebtedness in connection with the repurchase, redemption or
other acquisition or retirement of Equity Interests held by any current or former officer, director or employee of any Parent, the Company or any of its Restricted Subsidiaries; provided that such repurchase, redemption or other acquisition
or retirement is permitted by Section 3.3(b)(5); provided, further, that such Indebtedness must be expressly subordinated to the prior payment in full in cash of all Obligations then due with respect to the Notes or the
Note Guarantees and any payment on, or with respect to, a repurchase, redemption, defeasance, acquisition or retirement for value or otherwise shall be deemed a Restricted Payment, as the case may be; 

(15) Indebtedness or Disqualified Stock of the Company and Indebtedness or preferred stock of any Restricted Subsidiary in an
aggregate amount since the Issue Date equal to 100% of the net cash proceeds received by the Company since immediately after the Issue Date from the issue or sale of Equity Interests of the Company or cash contributed to the common equity capital of
the Company as determined in accordance with Section 3.3(a)(iii)(B) to the extent such net cash proceeds or cash have not been applied pursuant to such clauses to make Restricted Payments or to make other Investments, payments or
exchanges pursuant to Section 3.3(b) or to make Permitted Investments (other than Permitted Investments specified in clauses (1) and (3) of the definition thereof); 

(16) (x) the incurrence by the Company of Indebtedness or Disqualified Stock, or the incurrence by a Restricted Subsidiary of
Indebtedness, Disqualified Stock or Preferred Stock, to finance the acquisition of a Permitted Business or the Capital Stock of a Person engaged in a Permitted Business or (y) the assumption by the Company or a Restricted Subsidiary of
Indebtedness, Disqualified Stock or Preferred Stock of Persons that are acquired by the Company or any Restricted Subsidiary or merged into the 

  
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Company or a Restricted Subsidiary in accordance with the terms of this Indenture; provided that in the case of (x) and (y), after giving effect to such acquisition or merger, on a
pro forma basis for the most recently ended four fiscal quarters for which internal financial statements are available immediately preceding the date on which such additional Indebtedness is incurred or such Disqualified Stock or Preferred Stock is
issued, (A) the Company would be permitted to incur at least $1.00 of additional Indebtedness pursuant to the Fixed Charge Coverage Ratio test or (B) the Fixed Charge Coverage Ratio of the Company is no less than the Fixed Charge Coverage
Ratio of the Company immediately prior to such acquisition or merger; 
 (17) the incurrence by a Receivables Subsidiary of
Indebtedness in a Qualified Receivables Transaction; provided that the aggregate amount of Indebtedness under this clause (17), when aggregated with all Indebtedness outstanding under clause (b)(1) of this Section 3.2, shall not
exceed the maximum amount permitted under clause (b)(1) of this Section 3.2; 
 (18) the incurrence of
Indebtedness of the Company or any Restricted Subsidiary of the Company supported by a letter of credit issued under the Debt Facilities in a principal amount not in excess of the stated amount of such letter of credit; provided that the
stated amount of such letter of credit shall reduce the amount available to be borrowed under the Debt Facilities pursuant to either clause (1), (12) or (21) of this Section 3.2; 

(19) to the extent constituting Indebtedness, customer deposits and advance payments (including progress premiums) received in
the ordinary course of business; 
 (20) guarantees of or the assumption of Indebtedness of Dealers, when taken together with
all Investments made pursuant to clause (15) of the definition of Permitted Investments that are at the time outstanding, not to exceed the greater of $10.0 million and 1.5% of Total Assets at any time outstanding; and 

(21) the incurrence by the Company or any of its Restricted Subsidiaries of additional Indebtedness (which additional
Indebtedness may be incurred, in whole or in part, under the New ABL Revolving Credit Facility) in an aggregate principal amount (or accreted value, as applicable) at any time outstanding, including all Permitted Refinancing Indebtedness incurred to
renew, refund, refinance, replace, defease or discharge any Indebtedness incurred pursuant to this clause (21), not to exceed $25.0 million. 

(c) For purposes of determining compliance with this Section 3.2, in the event that an item of proposed Indebtedness meets the
criteria of more than one of the categories of Permitted Debt described in clauses (1) through (21) above, or is entitled to be incurred pursuant to paragraph (a) of this Section 3.2, the Company will be permitted to
classify such item of Indebtedness on the date of its incurrence, or later reclassify all or a portion of such item of Indebtedness, in any manner that complies with this Section 3.2. Notwithstanding the foregoing, the committed amount
of Indebtedness under the Debt Facilities on the date on which Notes are first issued and authenticated under this Indenture will be deemed when incurred to have been incurred on such date in reliance on the exception provided by clause (b)(1) of
this Section 3.2 and may not later be reclassified. 
 The accrual of interest, the accretion or amortization of original issue
discount, the payment of interest on any Indebtedness in the form of additional Indebtedness with the same terms, the reclassification of Preferred Stock as Indebtedness due to a change in accounting principles, and the payment of dividends on
Disqualified Stock in the form of additional shares of the same class of Disqualified Stock will not be deemed to be an incurrence of Indebtedness or an issuance of Disqualified Stock for purposes of this Section 3.2; provided, in
each such case, that the amount of any such accrual, accretion or payment is included in Fixed Charges of the Company as accrued. Notwithstanding any other provision of this Section 3.2, the maximum amount of Indebtedness that the
Company or any Restricted Subsidiary may incur pursuant to this Section 3.2 shall not be deemed to be exceeded solely as a result of fluctuations in exchange rates or currency values. 

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

(1) the accreted value of the Indebtedness, in the case of any Indebtedness issued with original issue discount; and 

(2) the principal amount of the Indebtedness, in the case of any other Indebtedness. 

The Company will not, and will not permit any Guarantor to, directly or indirectly, incur, create, issue, assume, guarantee or otherwise
become liable for any Indebtedness (including Acquired Debt) that is subordinated or junior in right of payment to any Indebtedness of the Company or any Guarantor, unless such Indebtedness is expressly subordinated in right of payment to the Notes
or such Guarantor’s Note Guarantee to the extent and in the same manner as such Indebtedness is subordinated to other Indebtedness of the Company or such Guarantor, as the case may be. For the purposes of this Indenture, (1) unsecured
Indebtedness shall not be treated as subordinated or junior to secured Indebtedness merely because it is unsecured and (2) senior Indebtedness shall not be treated as subordinated or junior to any other senior Indebtedness merely because it has
a junior priority with respect to the same collateral. 
 SECTION 3.3. Restricted Payments. 

(a) The Company will not, and will not permit any of its Restricted Subsidiaries to, directly or indirectly: 

(1) declare or pay any dividend or make any other payment or distribution on account of the Company’s or any of its
Restricted Subsidiaries’ Equity Interests (including, without limitation, any payment in connection with any merger or consolidation involving the Company or any of its Restricted Subsidiaries) or to the direct or indirect holders of the
Company’s or any of its Restricted Subsidiaries’ Equity Interests in their capacity as such (other than dividends or distributions payable in Equity Interests (other than Disqualified Stock) of the Company and other than dividends or
distributions payable to the Company or a Restricted Subsidiary of the Company); 
 (2) purchase, redeem or otherwise acquire
or retire for value (including, without limitation, in connection with any merger or consolidation involving the Company) any Equity Interests of the Company or any direct or indirect parent of the Company (other than any such Equity Interests owned
by the Company or any Restricted Subsidiary of the Company); 
 (3) make any payment on or with respect to, or purchase,
redeem, defease or otherwise acquire or retire for value any Indebtedness of the Company or any Guarantor that is contractually subordinated to the Notes or to any Note Guarantee (excluding any intercompany Indebtedness between or among the Company
and any of the Guarantors), except (A) a payment of interest or the payment of principal at the Stated Maturity thereof or (B) the purchase, redemption, defeasance or other acquisition or retirement of any such subordinated Indebtedness in
anticipation of satisfying a sinking fund obligation, principal installment or payment at final maturity, in each case due within one year; or 

(4) make any Restricted Investment 

(all such payments and other actions set forth in clauses (1) through (4) being collectively referred to as “Restricted
Payments”), unless, at the time of and immediately after giving effect to such Restricted Payment: 
 (i) no
Default or Event of Default has occurred and is continuing or would occur as a consequence of such Restricted Payment; 

(ii) the Company would, at the time of such Restricted Payment and after giving pro forma effect thereto as if such Restricted
Payment had been made at the beginning of the applicable four-quarter period, have been permitted to incur at least $1.00 of additional Indebtedness pursuant to the Fixed Charge Coverage Ratio test set forth in Section 3.2(a) hereof; and

  
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 (iii) such Restricted Payment, together with the aggregate amount of all other
Restricted Payments made by the Company and its Restricted Subsidiaries since the Issue Date (excluding Restricted Payments permitted by clauses (2), (3), (4), (5), (6), (7), (8), (9), (11) (solely to the extent deducted in calculating
Consolidated Net Income) and (13) of Section 3.3(b) hereof), is less than the sum, without duplication, of: 

(A) 50% of the Consolidated Net Income of the Company for the period (taken as one accounting period) from the beginning of the
first fiscal quarter commencing after the Issue Date to the end of the Company’s most recently ended fiscal quarter for which internal financial statements are available at the time of such Restricted Payment (or, if such Consolidated Net
Income for such period is a deficit, less 100% of such deficit); plus 
 (B) 100% of the aggregate net cash proceeds,
and the Fair Market Value of any property other than cash, received by the Company since the Issue Date as a contribution to its common equity capital or from the issue or sale of Equity Interests of the Company (other than Disqualified Stock) or
from the issue or sale of convertible or exchangeable Disqualified Stock or convertible or exchangeable debt securities of the Company that have been converted into or exchanged for such Equity Interests (other than Equity Interests (or Disqualified
Stock or debt securities) sold to a Subsidiary of the Company); plus 
 (C) to the extent that any Restricted
Investment that was made after the Issue Date is sold for cash or otherwise liquidated or repaid for cash, the cash return of capital with respect to such Restricted Investment (less the cost of disposition, if any); plus 

(D) to the extent that any Unrestricted Subsidiary of the Company designated as such after the Issue Date is redesignated as a
Restricted Subsidiary after the Issue Date, the Fair Market Value of the Company’s Investment in such Subsidiary as of the date of such redesignation; plus 

(E) any dividends or other distributions received by the Company or a Restricted Subsidiary of the Company that is a Guarantor
after the date of the of this Indenture from an Unrestricted Subsidiary of the Company or any Restricted Investment made after the Issue Date, to the extent that such dividends were not otherwise included in the Consolidated Net Income of the
Company for such period and were not used to reduce Investments made pursuant to clause (14) of the definition of “Permitted Investments”; 

provided, however, that the sum of clauses (C), (D) and (E) above shall not exceed the aggregate amount of all such
Investments made subsequent to the Issue Date. 
 (b) The provisions of Section 3.3(a) hereof shall not prohibit: 

(1) the payment of any dividend or the consummation of any irrevocable redemption within 60 days after the date of declaration
of the dividend or giving of the redemption notice, as the case may be, if at the date of declaration or notice, the dividend or redemption payment would have complied with the provisions of this Indenture; 

(2) the making of any Restricted Payment in exchange for, or out of the net cash proceeds of the substantially concurrent sale
(other than to a Subsidiary of the Company) of, Equity Interests of the Company (other than Disqualified Stock) or from the substantially concurrent cash contribution of common equity capital to the Company; provided that the amount of any
such net cash proceeds that are utilized for any such Restricted Payment will be excluded from Section 3.3(a)(iii)(B) hereof; 

(3) the repurchase, redemption, defeasance or other acquisition or retirement for value of Indebtedness of the Company or any
Guarantor that is contractually subordinated to the Notes or to any Note Guarantee with the net cash proceeds from a substantially concurrent incurrence of Permitted Refinancing Indebtedness; 

  
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 (4) the payment of any dividend (or, in the case of any partnership or limited
liability company, any similar distribution) by a Restricted Subsidiary of the Company to the holders of its Equity Interests on a pro rata basis; 

(5) the repurchase, redemption or other acquisition or retirement for value of any Equity Interests of the Company or any
Restricted Subsidiary of the Company or any distribution, loan or advance to Parent for the repurchase, redemption or other acquisition or retirement for value of any Equity Interests of Parent, in each case held by any current or former officer,
director or employee of the Company or any of its Restricted Subsidiaries pursuant to any equity subscription agreement, stock option agreement, shareholders’ agreement or other agreement; provided that the aggregate price paid for all
such repurchased, redeemed, acquired or retired Equity Interests may not exceed (a) $5.0 million in any twelve-month period (plus the net cash proceeds from the issuance of Equity Interests to officers, directors or employees) and (b) $10.0
million (plus the net cash proceeds from the issuance of Equity Interests to officers, directors or employees) in the aggregate since the Issue Date (provided that, in each case, the amount of any such net cash proceeds that are utilized for
any such Restricted Payment pursuant to clauses (a) or (b) will be excluded from Section 3.3(a)(iii)(B) hereof; provided, further, that the Company may carry over and make in the two immediately subsequent
twelve-month periods, in addition to the amounts permitted for such twelve-month period, the amount of such repurchases, redemptions or other acquisitions or retirements for value permitted to have been made but not made in the two immediately
preceding twelve-month periods; it being understood that the cancellation of Indebtedness owed by management to the Company in connection with such repurchase or redemption will not be deemed to be a Restricted Payment; 

(6) the repurchase of Equity Interests deemed to occur upon the exercise of stock options to the extent such Equity Interests
represent a portion of the exercise price of those stock options; 
 (7) the declaration and payment of regularly scheduled
or accrued dividends to holders of any class or series of Disqualified Stock of the Company or any Restricted Subsidiary of the Company issued on or after the Issue Date in accordance with the Fixed Charge Coverage Ratio test described in Section
3.2(a) hereof to the extent such dividends are included in the calculation of Fixed Charges; 
 (8) Permitted Payments to
Parent; 
 (9) the repayment or repurchase of Indebtedness that is subordinated in right of payment to the Notes or the Note
Guarantees upon an asset sale (provided that the amount of any net proceeds from such asset sale that are utilized for any Restricted Payment pursuant to this clause (9) shall be excluded from clause (iii)(C) of
Section 3.3(a) hereof) or Change of Control if and to the extent that such repayment or repurchase was required by the provisions of such Indebtedness; provided that, prior to such repayment or repurchase, the Company shall have
made the Collateral Disposition Offer, the Asset Disposition Offer or Change of Control Offer, as applicable, with respect to the Notes as required by this Indenture, and the Company shall have repurchased all Notes validly tendered for payment and
not validly withdrawn in connection with such Collateral Disposition Offer, Asset Disposition Offer or Change of Control Offer, as applicable; 

(10) the payment of dividends on common stock of the Company or any direct or indirect parent entity following the first bona
fide underwritten public offering of common stock of the Company or any direct or indirect parent entity after the Issue Date of up to 6% per annum of the net cash proceeds received by the Company from all public offerings; provided,
however, that the aggregate amount of all such dividends shall not exceed the aggregate amount of net cash proceeds received by the Company from all public offerings; 

  
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 (11) the distribution, dividend or otherwise, of shares of Capital Stock of or
Indebtedness owed to the Company or a Restricted Subsidiary by Unrestricted Subsidiaries (other than Unrestricted Subsidiaries the primary assets of which are cash and/or Cash Equivalents); 

(12) the payment of management, consulting, monitoring, transaction, advisory fees or other fees and related expenses
(including indemnification and similar amounts) pursuant to the Management Agreement; and 
 (13) other Restricted Payments
in an aggregate amount not to exceed $15.0 million since the Issue Date; 
 provided, that in the case of Restricted Payments pursuant to clauses
(5), (7), (9), (10), (11) and (13) above, no Default has occurred and is continuing or would be caused as a consequence of such payment. 

(c) The amount of all Restricted Payments (other than cash) will be the Fair Market Value on the date of the Restricted Payment of the
asset(s) or securities proposed to be transferred or issued by the Company or such Restricted Subsidiary, as the case may be, pursuant to the Restricted Payment. The Fair Market Value of any assets or securities that are required to be valued by
this Section 3.3 will be determined by the Board of Directors of the Company, whose resolution with respect thereto shall be delivered to the Trustee. The Board of Directors’ determination must be based upon an opinion or appraisal
issued by an accounting, appraisal or investment banking firm of national standing if the Fair Market Value exceeds $20.0 million. The Company, in its sole discretion, may classify any Investment or other Restricted Payment as being made in part
under one of the provisions of Section 3.3(b) hereof (or, in the case of any Investment, the clauses of Permitted Investments) and in part under one or more such provisions (or, as applicable, clauses). 

SECTION 3.4. Dividend and Other Payment Restrictions Affecting Subsidiaries. 

(a) The Company will not, and will not permit any of its Restricted Subsidiaries to, directly or indirectly, create or permit to exist or
become effective any consensual encumbrance or restriction on the ability of any Restricted Subsidiary to: 
 (1) pay
dividends or make any other distributions on its Capital Stock to the Company or any of its Restricted Subsidiaries, or with respect to any other interest or participation in, or measured by, its profits, or pay any indebtedness owed to the Company
or any of its Restricted Subsidiaries; 
 (2) make loans or advances to the Company or any of its Restricted Subsidiaries; or

 (3) sell, lease or transfer any of its properties or assets to the Company or any of its Restricted Subsidiaries. 

(b) The restrictions in Section 3.4(a) will not apply to encumbrances or restrictions existing under or by reason of: 

(1) agreements governing Existing Indebtedness and Debt Facilities as in effect on the Issue Date and any amendments,
restatements, modifications, renewals, supplements, refundings, replacements or refinancings of those agreements; provided that the amendments, restatements, modifications, renewals, supplements, refundings, replacements or refinancings are
not materially more restrictive, taken as a whole, with respect to such dividend and other payment restrictions than those contained in those agreements on the Issue Date as determined in good faith by the Board of Directors of the Company; 

(2) this Indenture, the Notes, the Note Guarantees, the Collateral Documents and the Intercreditor Agreement; 

(3) applicable law, rule, regulation or administrative or court order; 

  
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 (4) any instrument governing Indebtedness, Capital Stock or assets of a Person
acquired by the Company or any of its Restricted Subsidiaries as in effect at the time of such acquisition (except to the extent such Indebtedness or Capital Stock was incurred in connection with or in contemplation of such acquisition), which
encumbrance or restriction is not applicable to any Person, or the properties or assets of any Person, other than the Person, or the property or assets of the Person, so acquired; provided that, in the case of Indebtedness, such Indebtedness
was permitted by the terms of this Indenture to be incurred; 
 (5) customary non-assignment provisions in contracts, leases
or licenses; 
 (6) purchase money obligations and Capital Lease Obligations that impose restrictions on the property
purchased or leased of the nature described in Section 3.4(a)(3) hereof; 
 (7) any agreement for the sale or
other disposition of a Restricted Subsidiary that restricts distributions by that Restricted Subsidiary pending the sale or other disposition; 

(8) Permitted Refinancing Indebtedness; provided that the restrictions contained in the agreements governing such
Permitted Refinancing Indebtedness are not materially more restrictive, taken as a whole, than those contained in the agreements governing the Indebtedness being refinanced as determined in good faith by the Board of Directors of the Company; 

(9) Liens permitted to be incurred under the provisions of Section 3.6 hereof and restrictions in the agreements
relating thereto that limit the right of the debtor to dispose of the assets subject to such Liens; 
 (10) customary
provisions limiting the disposition or distribution of assets or property in joint venture agreements, asset sale agreements, sale-leaseback agreements, stock sale agreements and other similar agreements entered into with the approval of the
Company’s Board of Directors and otherwise permitted under this Indenture, which limitation is applicable only to the assets that are the subject of such agreements; 

(11) restrictions on cash or other deposits or net worth imposed by customers under contracts entered into in the ordinary
course of business; 
 (12) any encumbrance or restriction in connection with an acquisition of property, so long as such
encumbrance or restriction relates solely to the property so acquired and was not created in connection with or in anticipation of such acquisition; 

(13) provisions in agreements or instruments which prohibit the payment of dividends or the making of other distributions with
respect to any class of Capital Stock of a Person other than on a pro rata basis; 
 (14) restrictions on the transfer of
assets subject to any Lien permitted under this Indenture imposed by the holder of such Lien; 
 (15) customary provisions in
partnership agreements, limited liability company organizational governance documents, joint venture agreements and other similar agreements that restrict the transfer of ownership interests in such partnership, limited liability company, joint
venture or similar Person; 
 (16) restrictions on the ability of any Guarantor, any Foreign Subsidiary or, provided
that such encumbrances or restrictions will not materially affect the Company’s ability to make anticipated principal and interest payments on the Notes (as determined in good faith by the Board of Directors of the Company), any Domestic
Subsidiary that is not a Guarantor, to make dividends or other distributions resulting from the operation of payment defaults and reasonable financial covenants contained in documentation governing Indebtedness of such Guarantor or Foreign
Subsidiary permitted to be incurred under this Indenture; 

  
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 (17) Indebtedness or other contractual requirements of a Receivables Subsidiary
in connection with a Qualified Receivables Transaction; provided that such restrictions apply only to such Receivables Subsidiary; 

(18) solely with respect to clause (3) of Section 3.4(a) hereof, Indebtedness or other contractual
requirements of the Company or its Restricted Subsidiaries in connection with a floorplan financing arrangement or other similar retail financing arrangement; 

(19) any encumbrances or restrictions imposed by any amendments, modifications, restatements, renewals, increases, supplements,
refundings, replacements or refinancings of the contracts, instruments or obligations referred to in clauses (1) through (18) above permitted to be incurred subsequent to the Issue Date; provided that the encumbrances or
restrictions in such amendments, modifications, restatements, renewals, increases, supplements, refundings, replacements or refinancings are not materially more restrictive, taken as a whole, than the encumbrances or restrictions prior to such
amendment, modification, restatement, renewal, increase, supplement, refunding, replacement or refinancing, as determined in good faith by the Board of Directors of the Company; and 

(20) agreements governing other Indebtedness permitted to be incurred pursuant to Section 3.2 hereof and any
amendments, restatements, modifications, renewals, supplements, refundings, replacements or refinancings of those agreements; provided that the restrictions therein either (i) are not materially more restrictive than those contained in
agreements governing Indebtedness in effect on the Issue Date, or (ii) are not materially more disadvantageous to Holders than is customary in comparable financings (as determined by the Company in good faith) and in the case of
(ii) either (x) the Company determines (in good faith) that such encumbrance or restriction will not affect the Company’s ability to make principal or interest payments on the notes or (y) such encumbrances or restrictions apply
only during the continuance of a default in respect of payment or a financial maintenance covenant relating to such Indebtedness. 
 SECTION
3.5. Limitation on Sales of Assets and Subsidiary Stock. 
 (a) The Company will not, and will not permit any of its Restricted
Subsidiaries to, make any Asset Disposition of Notes Collateral unless: 
 (1) the Company or such Restricted Subsidiary, as
the case may be, receives consideration at least equal to the Fair Market Value (such Fair Market Value to be determined on the date of contractually agreeing to such Asset Disposition) of the Notes Collateral subject to such Asset Disposition; 

(2) at least 75% of the consideration from such Asset Disposition received by the Company or such Restricted Subsidiary, as the
case may be, is in the form of cash or Cash Equivalents; provided that any Designated Non-cash Consideration received by the Company or any Restricted Subsidiary in an Asset Disposition having an aggregate Fair Market Value, taken together
with all other Designated Non-cash Consideration received pursuant to this clause (2) that is at that time outstanding, not to exceed the greater of $10.0 million and 1.5% of Total Assets at the time of the receipt of such Designated Non-cash
Consideration (with the Fair Market Value of each item of Designated Non-cash Consideration being measured at the time received and without giving effect to subsequent changes in value), shall be deemed to be Cash Equivalents for purposes of this
clause (2) and clause (b)(2)(a) below; and 
 (3) the remaining consideration from such Asset Disposition that is not in
the form of cash or Cash Equivalents is thereupon with its acquisition pledged as the Notes Collateral to secure the Notes. 
 (b) For
purposes of Section 3.5(a)(2) hereof, the following shall be deemed to be cash: (a) the repayment or assumption of Indebtedness secured by Liens with a priority to the Liens in favor of the Notes and the Note Guarantees (other than
Indebtedness incurred in contemplation of such Asset Disposition) and (b) any securities, notes or other obligations received by the Company or any such Restricted Subsidiary from such transferee that are, within 180 days of the disposition of
Collateral, converted by the Company or such Restricted Subsidiary into cash or Cash Equivalents, to the extent of the cash or Cash Equivalents (of the variety described in clauses (1) through (7) of the definition thereof) received in that
conversion. 

  
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 (c) Any Net Proceeds from any Asset Disposition or Recovery Event in respect of Notes Collateral
may be (1) invested by the Company or a Restricted Subsidiary in additional assets constituting Notes Collateral (including, without limitation, through capital expenditures or acquisitions of assets constituting Notes Collateral other than
Capital Stock of Foreign Subsidiaries, or in the case of Net Proceeds from any Recovery Event, the performance of a restoration of the affected Collateral) within 365 days of the date of such Asset Disposition or Recovery Event, which additional
assets are thereupon with their acquisition added to the Notes Collateral securing the Notes or (2) used to repay (and correspondingly reduce commitments with respect to) Pari Passu Lien Indebtedness; provided, that the Company will
equally and ratably reduce Indebtedness under the Notes by making an offer to all Holders to purchase at a purchase price equal to 100% of the principal amount thereof, plus accrued and unpaid interest, such offer to be conducted in accordance with
the procedures set forth below for a Collateral Disposition Offer but without any further limitation in amount; provided, further, that in the case of clause (1) above, a binding commitment shall be treated as a permitted
application of the Net Proceeds from the date of such commitment so long as the Company or such Restricted Subsidiary enters into such commitment with the good faith expectation that such Net Proceeds will be applied to satisfy such commitment
within 180 days of such commitment and, in the event that such commitment is later cancelled or terminated for any reason before the Net Proceeds are applied in connection therewith, the Company or such Restricted Subsidiary enters into another
binding commitment (a “Collateral Proceeds Second Commitment”) within 180 days of such cancellation or termination (or, if later, 365 days after the receipt of such Net Proceeds); provided, further, that if any
Collateral Proceeds Second Commitment is later cancelled or terminated for any reason before such Net Proceeds are applied, then such Net Proceeds shall constitute Excess Collateral Proceeds. 

(d) The Company and the Guarantors shall not reinvest the proceeds of Asset Dispositions of ABL Collateral in the Capital Stock of Foreign
Subsidiaries. 
 (e) Any Net Proceeds from Asset Dispositions of Notes Collateral or Recovery Events that are not applied or invested as
provided in this subsection (a) or in accordance with the Collateral Documents will be deemed to constitute “Excess Collateral Proceeds.” When the aggregate amount of Excess Collateral Proceeds exceeds $20.0 million,
within 15 days thereof the Company will be required to make an offer (“Collateral Disposition Offer”) to all Holders and all holders of other Pari Passu Lien Indebtedness containing provisions similar to those set forth in
this Indenture with respect to offers to purchase or redeem with the proceeds of sales of Notes Collateral to purchase the maximum principal amount of the Notes and such Pari Passu Lien Indebtedness (on a pro rata basis) to which the Collateral
Disposition Offer applies that may be purchased out of the Excess Collateral Proceeds, at an offer price in cash in an amount equal to 100% of the principal amount of the Notes, plus accrued and unpaid interest to the date of purchase, in accordance
with the procedures set forth in this Indenture; provided that to the extent the Excess Collateral Proceeds relate to Asset Dispositions of ABL Collateral, the Company may, prior to making a Collateral Disposition Offer, make a prepayment
with respect to the maximum principal amount of Indebtedness that is secured by such Notes Collateral on a first-priority basis that may be prepaid out of such Excess Collateral Proceeds, at a price in cash in an amount equal to 100% of the
principal amount of such Indebtedness, plus accrued and unpaid interest, to the date of prepayment, with any Excess Collateral Proceeds not used to prepay such Indebtedness offered to Holders in accordance with this Section 3.5(e). To
the extent that the aggregate amount of Notes and other Pari Passu Lien Indebtedness so validly tendered and not properly withdrawn pursuant to a Collateral Disposition Offer is less than the Excess Collateral Proceeds (after giving effect to the
prepayment of Indebtedness secured on a first-priority basis in the case of an Asset Disposition of ABL Collateral), the Company may use any remaining Excess Collateral Proceeds for general corporate purposes, subject to the other covenants
contained in this Indenture. If the aggregate principal amount of Notes surrendered by Holders and Pari Passu Lien Indebtedness tendered into such Collateral Disposition Offer exceeds the amount of Excess Collateral Proceeds, the Notes and Pari
Passu Lien Indebtedness to be purchased shall be selected on a pro rata basis. Upon completion of such Collateral Disposition Offer, the amount of Excess Collateral Proceeds shall be reset at zero. 

  
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 (f) The Company will not, and will not permit any Restricted Subsidiary to, make any Asset
Disposition (other than Asset Dispositions of Notes Collateral which shall be treated in the manner set forth in Section 3.5(a) above) unless: 

(1) the Company (or the Restricted Subsidiary, as the case may be) receives consideration at the time of the Asset Disposition
at least equal to the Fair Market Value of the assets or Equity Interests issued or sold or otherwise disposed of; and 
 (2)
at least 75% of the consideration received in the Asset Disposition by the Company or such Restricted Subsidiary is in the form of cash. For purposes of this provision, each of the following will be deemed to be cash: 

(a) Cash Equivalents; provided that any Designated Non-cash Consideration received by the Company or any Restricted
Subsidiary in an Asset Disposition having an aggregate Fair Market Value, taken together with all other Designated Non-cash Consideration received pursuant to this clause (a) that is at that time outstanding, not to exceed the greater of $10.0
million and 1.5% of Total Assets at the time of the receipt of such Designated Non-cash Consideration (with the Fair Market Value of each item of Designated Non-cash Consideration being measured at the time received and without giving effect to
subsequent changes in value), shall be deemed to be Cash Equivalents for purposes of this clause (a) and Section 3.5(a)(2) above; 

(b) any liabilities, as shown on the Company’s most recent consolidated balance sheet, of the Company or any Restricted
Subsidiary (other than contingent liabilities and liabilities that are by their terms subordinated to the Notes or any Note Guarantee and Indebtedness incurred in contemplation of such Asset Disposition) that are assumed by the transferee of any
such assets pursuant to a customary novation agreement that releases the Company or such Restricted Subsidiary from further liability; 

(c) any securities, notes or other obligations received by the Company or any such Restricted Subsidiary from such transferee
that are, within 180 days of the Asset Disposition, converted by the Company or such Restricted Subsidiary into cash or Cash Equivalents, to the extent of the cash or Cash Equivalents (of the variety described in clauses (1) through (7) of
the definition thereof) received in that conversion; and 
 (d) any stock or assets of the kind referred to in clause
(3) or (5) of Section 3.5(g). 
 (g) Within 365 days after the receipt of any Net Proceeds from an Asset Disposition
subject to Section 3.5(f), the Company (or the applicable Restricted Subsidiary, as the case may be) may apply such Net Proceeds at its option: 

(1) to repay Secured Indebtedness secured by a Permitted Lien on the assets (provided that such Permitted Lien is not
pari passu with or subordinate to the Lien on such assets in favor of the Holders) subject to such Asset Disposition or Indebtedness of the applicable Restricted Subsidiary of the Company (if such Restricted Subsidiary is not a Guarantor) and if
such Indebtedness is revolving credit Indebtedness, to correspondingly reduce commitments with respect thereto; 
 (2) to
repay (and correspondingly reduce commitments with respect to) Pari Passu Lien Indebtedness; provided that the Company will equally and ratably reduce Indebtedness under the Notes by making an offer to all Holders to purchase at a purchase
price equal to 100% of the principal amount thereof, plus accrued and unpaid interest, such offer to be conducted in accordance with the procedures set forth below for an Asset Disposition Offer but without further limitation in amount; 

(3) to acquire all or substantially all of the assets of, or any Capital Stock of, another Permitted Business, if, after giving
effect to any such acquisition of Capital Stock, the Permitted Business is or becomes a Restricted Subsidiary of the Company; 

(4) to make a capital expenditure; or 

(5) to acquire other assets that are not classified as current assets under GAAP and that are used or useful in a Permitted
Business; 

  
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 provided, however, that in the cause of clauses (3), (4) and (5) above, a
binding commitment shall be treated as a permitted application of the Net Proceeds from the date of such commitment so long as the Company or such Restricted Subsidiary enters into such commitment with the good faith expectation that such Net
Proceeds will be applied to satisfy such commitment within 180 days of such commitment and, in the event that such commitment is later cancelled or terminated for any reason before the Net Proceeds are applied in connection therewith, the Company or
such Restricted Subsidiary enters into another binding commitment (a “Second Commitment”) within 180 days of such cancellation or termination (or, if later, 365 days after the receipt of such Net Proceeds); provided,
further, that if any Second Commitment is later cancelled or terminated for any reason before such Net Proceeds are applied, then such Net Proceeds shall constitute Excess Proceeds; 

(h) Pending the final application of any Net Proceeds, the Company may temporarily reduce revolving credit borrowings or otherwise invest the
Net Proceeds in any manner that is not prohibited by this Indenture. 
 (i) Any Net Proceeds from Asset Dispositions that are not applied or
invested as provided above will constitute “Excess Proceeds.” When the aggregate amount of Excess Proceeds exceeds $20.0 million, within 15 days thereof, the Company will make an offer (“Asset Disposition
Offer”) to all Holders and all holders of Pari Passu Lien Indebtedness containing provisions similar to those set forth in this Indenture with respect to offers to purchase or redeem with the proceeds of sales of assets to purchase the
maximum principal amount of Notes and such other Pari Passu Lien Indebtedness that may be purchased out of the Excess Proceeds. The offer price in any Asset Disposition Offer will be equal to 100% of the principal amount plus accrued and unpaid
interest to the date of purchase, and will be payable in cash. If any Excess Proceeds remain after consummation of an Asset Disposition Offer, the Company may use those Excess Proceeds for any purpose not otherwise prohibited by this Indenture. If
the aggregate principal amount of Notes and other Pari Passu Lien Indebtedness tendered into such Asset Disposition Offer exceeds the amount of Excess Proceeds, the Trustee will select the Notes and such other Pari Passu Lien Indebtedness to be
purchased on a pro rata basis. Upon completion of each Asset Disposition Offer, the amount of Excess Proceeds will be reset at zero. 
 (j)
The Collateral Disposition Offer or Asset Disposition Offer will remain open for a period of 20 Business Days following its commencement, except to the extent that a longer period is required by applicable law (the “Asset Disposition
Offer Period”). No later than five Business Days after the termination of the Asset Disposition Offer Period (the “Asset Disposition Purchase Date”), the Company will purchase the principal amount of Notes (and
other Indebtedness required to be purchased pursuant to Section 3.5(e)) and Pari Passu Lien Indebtedness required to be purchased pursuant to this Section 3.5 (the “Asset Disposition Offer Amount”) or,
if less than the Asset Disposition Offer Amount has been so validly tendered, all Notes (and other Indebtedness required to be purchased pursuant to Section 3.5(e)) and Pari Passu Lien Indebtedness, if applicable, validly tendered in
response to the Collateral Disposition Offer or Asset Disposition Offer, as applicable. If the Asset Disposition Purchase Date is on or after an interest record date and on or before the related interest payment date, any accrued and unpaid interest
will be paid on such Asset Disposition Purchase Date to the Person in whose name a Note is registered at the close of business on such record date, and no additional interest will be payable to Holders who tender Notes pursuant to the Collateral
Disposition Offer or Asset Disposition Offer. 
 (k) Upon the commencement of a Collateral Disposition Offer or Asset Disposition Offer, as
applicable, the Company will send, by first class mail, a notice to the Trustee and each of the Holders. The notice will contain all instructions and materials necessary to enable such Holders to tender Notes pursuant to the Collateral Disposition
Offer or Asset Disposition Offer, as applicable. The notice, which will govern the terms of the Collateral Disposition Offer or Asset Disposition Offer, as applicable, will state: 

(1) that the Collateral Disposition Offer or Asset Disposition Offer is being made pursuant to this Section 3.5 and
the length of time the Collateral Disposition Offer or Asset Disposition Offer will remain open; 

  
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 (2) the Asset Disposition Offer Amount, the purchase price and the Asset
Disposition Purchase Date; 
 (3) that any Security not tendered or accepted for payment will continue to accrue interest;

 (4) that, unless the Company defaults in making such payment, any Note accepted for payment pursuant to the Collateral
Disposition Offer or Asset Disposition Offer will cease to accrue interest after the Asset Disposition Purchase Date; 
 (5)
that Holders electing to have a Note purchased pursuant to a Collateral Disposition Offer or Asset Disposition Offer, as applicable, may elect to have Notes purchased in minimum denominations of $2,000 or integral multiples of $1,000 in excess of
$2,000, only; 
 (6) that Holders electing to have a Note purchased pursuant to any Collateral Disposition Offer or Asset
Disposition Offer, as applicable, will be required to surrender the Note, with the form entitled “Option of Holder to Elect Purchase” attached to the Note completed, or transfer its interest in such Note by book-entry transfer, to the
Company or a Paying Agent at the address specified in the notice at least three Business Days before the Asset Disposition Purchase Date; 

(7) that Holders will be entitled to withdraw their election if the Company or the Paying Agent, as the case may be, receives,
not later than the expiration of the Asset Disposition Offer Period, a telegram, telex, facsimile or electronic transmission in the form of a “pdf” on letterhead (if applicable) and signed by an authorized signer or letter setting forth
the name of the Holder, the principal amount of the Note the Holder delivered for purchase and a statement that such Holder is withdrawing his election to have such Note purchased; 

(8) that, if the aggregate principal amount of Notes and, if applicable, other Indebtedness required to be purchased pursuant
to Section 3.5(e) and other Pari Passu Lien Indebtedness surrendered by the Holders thereof exceeds the Asset Disposition Offer Amount, the Company will select the Notes and, if applicable, such other Indebtedness and Pari Passu Lien
Indebtedness to be purchased on a pro rata basis based on the principal amount of Notes and such other Indebtedness and Pari Passu Lien Indebtedness surrendered (with such adjustments as may be deemed appropriate so that only Notes in denominations
of $2,000, or integral multiples of $1,000 in excess thereof, will be purchased); and 
 (9) that Holders whose Notes were
purchased only in part will be issued new Notes equal in principal amount to the unpurchased portion of the Notes surrendered (or transferred by book-entry transfer). 

(l) If the Asset Disposition Purchase Date is on or after an interest record date and on or before the related interest payment date, any
accrued and unpaid interest will be paid on such Asset Disposition Purchase Date to the Person in whose name a Note is registered at the close of business on such record date, and no additional interest will be payable to Holders who tender Notes
pursuant to the Collateral Disposition Offer or Asset Disposition Offer. 
 (m) On or before the Asset Disposition Purchase Date, the
Company will, to the extent lawful, accept for payment, on a pro rata basis to the extent necessary, the Asset Disposition Offer Amount of Notes (and other Indebtedness required to be purchased pursuant to Section 3.5(e)) and Pari Passu
Lien Indebtedness or portions of Notes (and other Indebtedness required to be purchased pursuant to Section 3.5 (e)) and Pari Passu Lien Indebtedness so validly tendered and not properly withdrawn pursuant to the Collateral Disposition
Offer or Asset Disposition Offer, or if less than the Asset Disposition Offer Amount has been validly tendered and not properly withdrawn, all Notes (and other Indebtedness required to be purchased pursuant to Section 3.5(e)) and Pari
Passu Lien Indebtedness so validly tendered and not properly withdrawn, in each case in integral multiples of $1,000; provided that no Notes of $2,000 or less can be repurchased in part. The Company or the Paying Agent, as the case may be,
will promptly (but in any case not later than five Business Days after termination of the Asset Disposition Offer Period) mail or deliver to each tendering Holder or holder or lender of such other Indebtedness or Pari Passu Lien Indebtedness, as the
case may be, an amount equal to the purchase price of the Notes, such other Indebtedness or Pari Passu 

  
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 Lien Indebtedness so validly tendered and not properly withdrawn by such holder or lender, as the case may be,
and accepted by the Company for purchase, and the Company will promptly issue a new Note, and the Trustee, upon delivery of an Officer’s Certificate from the Company, will authenticate and mail or deliver such new Note to such Holder, in a
principal amount equal to any unpurchased portion of the Note surrendered; provided that each such new Note will be in a principal amount of $2,000 or an integral multiple of $1,000 in excess thereof. Any Note not so accepted will be promptly
mailed or delivered by the Company to the Holder thereof. The Company will publicly announce the results of the Collateral Disposition Offer or Asset Disposition Offer, as the case may be, on the Asset Disposition Purchase Date. 

(n) The Company will comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations
thereunder to the extent those laws and regulations are applicable in connection with each repurchase of Notes pursuant to a Collateral Disposition Offer or an Asset Disposition Offer. To the extent that the provisions of any securities laws or
regulations conflict with the provisions of this Section 3.5, the Company shall comply with the applicable securities laws and regulations and will not be deemed to have breached its obligations under this Section 3.5 by
virtue of such compliance. 
 (o) The Company will not, and will not permit any Restricted Subsidiary to, engage in any Asset Swaps, unless:

 (1) at the time of entering into such Asset Swap and immediately after giving effect to such Asset Swap, no Default or
Event of Default shall have occurred and be continuing or would occur as a consequence thereof; 
 (2) in the event such
Asset Swap involves the transfer by the Company or any Restricted Subsidiary of assets having an aggregate fair market value, as determined by the Board of Directors of the Company in good faith, in excess of $10.0 million, the terms of such Asset
Swap have been approved by a majority of the members of the Board of Directors of the Company; and 
 (3) in the event such
Asset Swap involves the transfer by the Company or any Restricted Subsidiary of assets having an aggregate fair market value, as determined by the Board of Directors of the Company in good faith, in excess of $20.0 million, the Company has received
a written opinion from an independent investment banking firm of nationally recognized standing that such Asset Swap is fair to the Company or such Restricted Subsidiary, as the case may be, from a financial point of view. 

SECTION 3.6. Limitation on Liens. The Company will not, and will not permit any of its Restricted Subsidiaries to, create, incur,
assume or otherwise cause or suffer to exist or become effective any Lien of any kind (other than Permitted Liens) securing Indebtedness, Attributable Debt or trade payables, in each case, including any guarantee of such Restricted Subsidiary, upon
any property or assets of the Company or such Restricted Subsidiary, now owned or hereafter acquired, or upon any income or profits therefrom. 

SECTION 3.7. Limitation on Sale and Leaseback Transactions. The Company will not, and will not permit any of its Restricted
Subsidiaries to, enter into any sale and leaseback transaction; provided that the Company or any Restricted Subsidiary may enter into a sale and leaseback transaction if: 

(1) the Company or that Restricted Subsidiary, as applicable, could have (a) incurred Indebtedness in an amount equal to
the Attributable Debt relating to such sale and leaseback transaction under (i) the Fixed Charge Coverage Ratio test in Section 3.2(a) hereof or (ii) clauses (4) or (17) of Section 3.2(b) hereof and
(b) incurred a Lien to secure such Indebtedness pursuant to Section 3.6 hereof, 
 (2) the gross cash
proceeds of that sale and leaseback transaction are at least equal to the Fair Market Value of the property that is the subject of that sale and leaseback transaction; and 

(3) the transfer of assets in that sale and leaseback transaction is permitted by, and the Company applies the proceeds of such
transaction in compliance with Section 3.5 hereof. 

  
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 SECTION 3.8. Limitation on Affiliate Transactions. 

(a) The Company will not, and will not permit any of its Restricted Subsidiaries to, make any payment to, or sell, lease, transfer or otherwise
dispose of any of its properties or assets to, or purchase any property or assets from, or enter into or make or amend any transaction, contract, agreement, understanding, loan, advance or guarantee with, or for the benefit of, any Affiliate of the
Company involving aggregate consideration in excess of $2.0 million (each, an “Affiliate Transaction”), unless: 

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

(2) the Company delivers to the Trustee: 

(A) with respect to any Affiliate Transaction or series of related Affiliate Transactions involving aggregate consideration in
excess of $10.0 million, a resolution of the Board of Directors of the Company set forth in an Officer’s Certificate certifying that such Affiliate Transaction complies with this Section 3.8(a) and that such Affiliate Transaction
has been approved by a majority of the disinterested members of the Board of Directors of the Company; and 
 (B) with
respect to any Affiliate Transaction or series of related Affiliate Transactions involving aggregate consideration in excess of $20.0 million, an opinion as to the fairness to the Company or such Subsidiary of such Affiliate Transaction from a
financial point of view issued by an accounting, appraisal or investment banking firm of national standing. 
 (b) The following items will
not be deemed to be Affiliate Transactions and, therefore, will not be subject to the provisions of Section 3.8(a) hereof: 

(1) any employment agreement, employee benefit plan, officer or director indemnification agreement or any similar arrangement
entered into by the Company or any of its Restricted Subsidiaries in the ordinary course of business and payments pursuant thereto; 

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

(3) transactions with a Person (other than an Unrestricted Subsidiary of the Company) that is an Affiliate of the Company
solely because the Company owns, directly or through a Restricted Subsidiary, an Equity Interest in, or controls, such Person; 

(4) payment of reasonable directors’ fees to Persons who are not otherwise Affiliates of the Company; 

(5) any issuance of Equity Interests (other than Disqualified Stock) of the Company to Affiliates of the Company and the
granting of registration rights in connection therewith; 
 (6) Restricted Payments that do not violate
Section 3.3 hereof; 
 (7) Permitted Investments; 

(8) any transaction pursuant to any agreement in existence on the Issue Date and described in the Offering Memorandum or any
amendment or replacement thereof that, taken in its entirety, is no less favorable to the Company than the agreement as in effect on the Issue Date; 

(9) the payment of indemnities provided for by the Company’s charter, by-laws and written agreements and reasonable fees
to directors of the Company, any Parent and the Restricted Subsidiaries who are not employees of the Company, any Parent or the Restricted Subsidiaries; 

  
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 (10) any tax sharing agreement or arrangement and payments pursuant thereto among
the Company and its Subsidiaries and any other Person with which the Company or its Subsidiaries files a consolidated, combined or unitary tax return or with which the Company or any of its Restricted Subsidiaries is part of a consolidated, combined
or unitary group for tax purposes in amounts not otherwise prohibited by this Indenture; 
 (11) transactions with a joint
venture engaged in a Permitted Business; provided that all the outstanding ownership interests of such joint venture are owned only by the Company, its Restricted Subsidiaries and Persons who are not Affiliates of the Company; 

(12) transactions with customers, clients, suppliers or purchasers or sellers of goods, in each case in the ordinary course of
business; 
 (13) transactions which have been approved by a majority of the disinterested members of the Board of Directors
and with respect to which an independent financial advisor has delivered an opinion as to the fairness to the Company or such Restricted Subsidiary of such transaction from a financial point of view; 

(14) transactions pursuant to the Management Agreement; 

(15) any agreement between any Person and an Affiliate of such Person existing at the time such Person is acquired by or merged
into the Company or a Restricted Subsidiary of the Company; provided that such agreement was not entered into contemplation of such acquisition or merger, or any amendment thereto (so long as any such amendment is not disadvantageous to the
Holders when taken as a whole as compared to the applicable agreement as in effect on the date of such acquisition or merger); 

(16) any Qualified Receivables Transaction; and 

(17) any floorplan financing arrangements or other similar retail financing arrangements that are made in the ordinary course
of the Company’s business or consistent with past practice prior to the Issue Date. 
 SECTION 3.9. Covenant Suspension.
(a) If on any date following Issue Date (i) the Notes have Investment Grade Ratings from both Rating Agencies and (ii) no Default has occurred and is continuing under this Indenture (the occurrence of the events described in the
foregoing clauses (i) and (ii) being collectively referred to as a “Covenant Suspension Event”), the Company and its Restricted Subsidiaries will not be subject to the following covenants (collectively, the
“Suspended Covenants”): 
  

	 	(1)	Section 3.2; 

  

	 	(2)	Section 3.3; 

  

	 	(3)	Section 3.4; 

  

	 	(4)	Section 3.5; 

  

	 	(5)	Section 3.8; 

  

	 	(6)	Section 3.12; and 

  

	 	(7)	Section 4.1(a)(4). 

 (b) In the event that the Company and its Restricted
Subsidiaries are not subject to the Suspended Covenants under this Indenture for any period of time as a result of the foregoing, and on any subsequent date (the “Reversion Date”) one or both of the Rating Agencies
(i) withdraw their Investment Grade Rating or downgrade the 

  
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rating assigned to the Notes below an Investment Grade Rating and/or (ii) the Company or any of its Affiliates enters into an agreement to effect a transaction and one or more of the Rating
Agencies indicate that if consummated, such transaction (alone or together with any related recapitalization or refinancing transactions) would cause such Rating Agency to withdraw its Investment Grade Rating, then the Company and its Restricted
Subsidiaries will thereafter again be subject to the Suspended Covenants under this Indenture with respect to future events, including, without limitation, a proposed transaction described in clause (ii) above. 

(c) The period of time between the occurrence of a Covenant Suspension Event and the Reversion Date is referred to in this description as the
“Suspension Period.” Additionally, upon the occurrence of a Covenant Suspension Event, the amount of Excess Proceeds from Net Proceeds shall be reset at zero. In the event of any such reinstatement, no action taken or omitted
to be taken by the Company or any of its Restricted Subsidiaries prior to such reinstatement will give rise to a Default or Event of Default under this Indenture with respect to Notes; provided that with respect to Restricted Payments made
after any such reinstatement, the amount of Restricted Payments made will be calculated as though Section 3.3 had been in effect prior to, but not during, the Suspension Period. No Subsidiaries shall be designated as Unrestricted
Subsidiaries during the Suspension Period. All Indebtedness incurred, or Disqualified Stock or Preferred Stock issued, during the Suspension Period will be classified to have been incurred or issued pursuant to Section 3.2(b)(3). 

SECTION 3.10. Change of Control. 

(a) Upon the occurrence of a Change of Control, each Holder shall have the right to require the Company to repurchase all or any part (equal to
an integral multiple of $1,000) of such Holder’s Notes pursuant to a Change of Control Offer at a purchase price in cash equal to 101% of the aggregate principal amount of Notes repurchased plus accrued and unpaid interest on the Notes
repurchased to the date of purchase, subject to the rights of Holders on the relevant record date to receive interest due on the relevant interest payment date (the “Change of Control Payment”); provided that no Notes
of $2,000 or less can be repurchased in part. 
 Within 30 days following any Change of Control, the Company shall mail a notice (the
“Change of Control Offer”) to each Holder describing the transaction or transactions that constitute the Change of Control and stating: 

(1) that the Change of Control Offer is being made pursuant to this Section 3.10 and that all Notes tendered will
be accepted for payment; 
 (2) the purchase price and the purchase date, which shall be no earlier than 30 days and no later
than 60 days from the date such notice is mailed (the “Change of Control Payment Date”); 
 (3) that
any Note not tendered will continue to accrue interest; 
 (4) that, unless the Company defaults in the payment of the Change
of Control Payment, all Notes accepted for payment pursuant to the Change of Control Offer will cease to accrue interest after the Change of Control Payment Date; 

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

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

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

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

(2) deposit with the Paying Agent an amount equal to the Change of Control Payment in respect of all Notes or portions of Notes
properly tendered; and 
 (3) deliver or cause to be delivered to the Trustee the Notes properly accepted together with an
Officer’s Certificate stating the aggregate principal amount of Notes or portions of Notes being purchased by the Company. 
 The Paying
Agent will promptly mail or deliver (but in any case not later than five days after the Change of Control Payment Date) to each Holder properly tendered the Change of Control Payment to the extent it has been received for such Notes, and the
Trustee, upon delivery of the Officer’s Certificate referred to in clause (3) above, will promptly authenticate and mail (or cause to be transferred by book entry) to each Holder a new Note equal in principal amount to any unpurchased
portion of the Notes surrendered, if any; provided that each such new security will be in a principal amount of at least $2,000 or an integral multiple of $1,000 in excess thereof. The Company will publicly announce the results of the Change
of Control Offer on or as soon as practicable after the Change of Control Payment Date. 
 In the event that at the time of such Change of
Control the terms of any Indebtedness restrict or prohibit the repurchase of Notes, then prior to the mailing of the notice to Holders but in any event within 30 days following any Change of Control, the Company shall either (i) repay in full
all such Indebtedness or offer to repay in full all such Indebtedness and repay the Indebtedness of each lender who has accepted such offer or (ii) obtain the requisite consent under the agreements governing such Indebtedness to permit the
repurchase of the Notes as provided for in Section 3.10(c). The Company will first comply with the requirement described in the preceding sentence before making the Change of Control Offer to purchase the Notes pursuant to the provisions
described herein; provided that such compliance will not extend the time periods set forth in this Indenture for the Company to make an offer to repurchase the Notes in connection with a Change of Control. 

(c) Notwithstanding anything to the contrary in this Section 3.10. the Company will not be required to make a Change of Control
Offer upon a Change of Control if (1) a third party makes the Change of Control Offer in the manner, at the times and otherwise in compliance with the requirements set forth in this Section 3.10 applicable to a Change of Control
Offer made by the Company and purchases all Notes properly tendered and not withdrawn under the Change of Control Offer, or (2) notice of redemption has been given pursuant to Section 5.3 hereof, unless and until there is a default
in payment of the applicable redemption price. Notwithstanding anything to the contrary herein, a Change of Control Offer may be made in advance of a Change of Control, conditional upon such Change of Control, if a definitive agreement is in place
for the Change of Control at the time of making of the Change of Control Offer. 
 (d) The Company shall comply with the requirements of
Rule 14e-l under the Exchange Act and any other securities laws and regulations thereunder to the extent those laws and regulations are applicable in connection with the repurchase of the Notes as a result of a Change of Control. To the extent that
the provisions of any securities laws or regulations conflict with this Section 3.10 the Company will comply with the applicable securities laws and regulations and will not be deemed to have breached its obligations under this
Section 3.10 by virtue of such compliance. 
 (e) The provisions of this Section 3.10 shall be applicable whether or
not any other provisions of this Indenture are applicable as a result of a Change of Control. 

  
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 SECTION 3.11. Reports. (a) So long as any Notes are outstanding, the Company will
furnish to the Holders and/or file with the Trustee and cause the Trustee to furnish to the Holders: 
 (1) within 90 days
after the end of each fiscal year of the Company, (or 120 days for the fiscal year ending October 31, 2013), annual reports of the Company and its Subsidiaries (including a balance sheet, statement of operations and statement of cash flows)
containing the information required to be contained on Form 10-K, or any successor or comparable form, if the Company was a reporting company under the Exchange Act (but only to the extent similar information is included in the Offering Memorandum),
including a report on the annual financial statements by the Company’s certified independent accountants; 
 (2) within
45 days after the end of each of the first three fiscal quarters of each fiscal year of the Company, quarterly reports of the Company and its Subsidiaries containing the information required to be contained on Form 10-Q, or any successor or
comparable form, if the Company was a reporting company under the Exchange Act (but only to the extent similar information is included in the Offering Memorandum); and 

(3) promptly from time to time after the occurrence of an event that would have been required to be therein reported, such
other reports containing substantially the same information that would have been required to be contained in a Current Report on Form 8-K under the Exchange Act if the Company had been a reporting company under the Exchange Act; provided,
however, that no such report shall be required to be furnished if the Company determines in its good faith judgment that such event is not material to the Holders or the business, assets, operations, financial positions or prospects of the
Company and its Restricted Subsidiaries, taken as a whole. 
 The reports required pursuant to clauses (1), (2) and (3) above will
not be required to include any exhibits that would have been required to be filed pursuant to Item 601 of Regulation S-K, and will not be required to comply with (i) Section 302, Section 404 or Section 906 of the
Sarbanes-Oxley Act of 2002 and related Items 307 and 308 of Regulation S-K and (ii) Rule 3-10 or Rule 3-16 of Regulation S-X, except that summary guarantor/nonguarantor information consistent with the disclosure in the Offering Memorandum will
be provided. 
 (b) The Company shall maintain a website (which may be nonpublic) (a “Secure Website”) to which
holders, prospective investors that certify that they are qualified institutional buyers, securities analysts and market makers (“Permitted Parties”) are given access and to which such information is posted. In addition, the
Company shall use its reasonable efforts to participate in quarterly and annual private conference calls to discuss results of operations with Holders within 15 business days after the date on which quarterly and annual, as the case may be, reports
are required to be furnished under this Indenture. The Company shall employ commercially reasonably means expected to reach Permitted Parties (it being understood that a posting on the Secure Website shall be sufficient) no fewer than three business
days prior to the date of the conference call required to be held to announce the time and date of such conference call and either including all information necessary to access the call or directing Permitted Parties to contact the appropriate
person at the Company to obtain such information. 
 (c) In addition, the Company has agreed that, for so long as any Notes remain
outstanding, it will furnish to the Holders and to securities analysts and prospective investors, upon their request, the information required to be delivered pursuant to Rule 144A(d)(4) under the Securities Act. 

(d) To the extent that any reports or other information is not furnished within the time periods specified above and such reports or other
information is subsequently furnished prior to the time such failure results in an Event of Default, the Company will be deemed to have satisfied its obligations with respect thereto and any Default with respect thereto shall be deemed to have been
cured. The Company may satisfy its obligation to furnish any reports or other information to the Trustee and Holders at any time by filing or furnishing, as applicable, such information with the Securities and Exchange Commission, it being
understood that the Trustee shall have no obligation to determine if such filings have been made. 
 (e) If the Company has designated any
of its Subsidiaries (other than Immaterial Subsidiaries) as Unrestricted Subsidiaries, then the quarterly and annual reports required by this Section 3.11 will include information for the Unrestricted Subsidiaries in the aggregate for
the relevant periods consistent with the disclosure in the Offering Memorandum with respect to Subsidiaries that are not Guarantors and/or Unrestricted Subsidiaries. 

  
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 (f) In addition, if at any time Parent becomes a Guarantor (there being no obligation of Parent
to do so), and Parent holds no material assets other than cash, Cash Equivalents and the Capital Stock of the Company or any direct or indirect parent of the Company (and performs the related incidental activities associated with such ownership) and
would comply with the requirements of Rule 3-10 of Regulation S-X promulgated by the Securities and Exchange Commission (or any successor provision), the reports, information and other documents required to be filed and furnished to Holders pursuant
to this covenant may, at the option of the Company, be furnished by and be those of Parent rather than the Company. 
 (g) Delivery of such
reports, information and documents to the Trustee is for informational purposes only and the Trustee’s receipt of such shall not constitute constructive notice of any information contained therein or determinable from information contained
therein, including the Company’s compliance with any of its covenants hereunder (as to which the Trustee is entitled to rely exclusively on an Officer’s Certificates). 

SECTION 3.12. Future Guarantors. 

(a) If the Company or any of its Restricted Subsidiaries acquires or creates another Wholly Owned Domestic Subsidiary (other than an Excluded
Subsidiary) on or after the Issue Date or if any Wholly Owned Domestic Subsidiary ceases to be an Excluded Subsidiary then, within 45 days of the date of such acquisition or creation, as applicable, such Subsidiary must become a Guarantor and
execute a supplemental indenture substantially in the form of Exhibit C hereto and deliver an Officer’s Certificate to the Trustee as to the satisfaction of all conditions precedent to such execution under this Indenture. For the
avoidance of doubt, no opinion of counsel shall be required to be delivered to the Trustee in connection with the execution of such supplemental indenture. 

(b) The Company will not permit any of its Restricted Subsidiaries, directly or indirectly, to guarantee any other Indebtedness of the Company
or any Guarantor (including, but not limited to, any Indebtedness under any Debt Facility) unless such Restricted Subsidiary is a Guarantor or substantially simultaneously executes and delivers a supplemental indenture substantially in the form of
Exhibit C hereto providing for the guarantee of the payment of the Notes by such Restricted Subsidiary, which guarantee shall be (i) senior in right of payment to such Restricted Subsidiary’s guarantee of such other Indebtedness if
such other Indebtedness is by its express terms subordinated in right of payment to the Notes or such guarantee of the Notes and (ii) pari passu in right of payment with such Restricted Subsidiary’s guarantee of such other
Indebtedness if otherwise. 
 (c) The obligations of each Guarantor will be limited to the maximum amount as will, after giving effect to
all other contingent and fixed liabilities of such Guarantor (including, without limitation, any guarantees under the New ABL Revolving Credit Facility) and after giving effect to any collections from or payments made by or on behalf of any other
Guarantor in respect of the obligations of such other Guarantor under its Note Guarantee or pursuant to its contribution obligations under this Indenture, result in the obligations of such Guarantor under its Note Guarantee not constituting a
fraudulent conveyance or fraudulent transfer under federal or state law. 
 (d) Each Restricted Subsidiary that becomes a Guarantor on or
after the Issue Date shall also become a party to the Collateral Documents and the Intercreditor Agreement and any Junior Lien Intercreditor Agreement and shall as promptly as practicable execute and deliver such security instruments, financing
statements, mortgages, deeds of trust and certificates as may be necessary to vest in the Notes Collateral Agent a perfected first or second priority security interest, as the case may be, (subject to Permitted Liens) upon all its properties and
assets (other than Excluded Assets) as security for the Notes Obligations and as may be necessary to have such property or asset added to the Collateral as required under the Collateral Documents and this Indenture, and thereupon all provisions of
this Indenture relating to the Collateral shall be deemed to relate to such properties and assets to the same extent and with the same force and effect; provided, however, that if granting such first or second priority security
interest, as the case may be, in any such property or asset requires the consent of a third party, the Company will use commercially reasonable efforts to obtain such consent for the benefit of the Notes Collateral Agent on behalf of the Notes
Secured Parties. 

  
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 SECTION 3.13. Maintenance of Office or Agency. The Company will maintain in the Borough of
Manhattan, the City of New York, an office or agency (which may be an office of the Trustee or an affiliate of the Trustee, Registrar or co-registrar) where Notes may be surrendered for registration of transfer or for exchange and where notices and
demands to or upon the Company in respect of the Notes and this Indenture may be served. The Company will give prompt written notice to the Trustee of the location, and any change in the location, of such office or agency. If at any time the Company
fails to maintain any such required office or agency or fails to furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands may be made or served at the corporate trust office of the Trustee. 

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

The Company hereby designates the corporate trust office of the Trustee as one such office or agency of the Company in accordance with
Section 2.3 hereof. 
 SECTION 3.14. Corporate Existence. Subject to Article IV, hereof, the Company shall do or
cause to be done all things necessary to preserve and keep in full force and effect: 
 (1) its corporate existence, and the
corporate, partnership or other existence of each of its Restricted Subsidiaries, in accordance with the respective organizational documents (as the same may be amended from time to time) of the Company or any such Subsidiary; and 

(2) the rights (charter and statutory), licenses and franchises of the Company and its Restricted Subsidiaries; 

provided, however, that the Company shall not be required to preserve any such right, license or franchise, or the corporate, partnership or
other existence of any of its Subsidiaries, if the Board of Directors shall determine and evidenced by an Officer’s Certificate to the Trustee that (a) the preservation thereof is no longer desirable in the conduct of the business of the
Company and its Subsidiaries, taken as a whole, and (b) the loss thereof is not adverse in any material respect to the Holders. 

SECTION 3.15. Payment of Taxes. The Company will pay, and will cause each of its Restricted Subsidiaries to pay or discharge, prior to
delinquency, all material taxes, lawful assessments, and governmental levies except such as are contested in good faith and by appropriate actions or where the failure to effect such payment is not adverse in any material respect to the Holders.

 SECTION 3.16. Payments for Consent. The Company will not, and will not permit any of its Restricted Subsidiaries to, directly or
indirectly, pay or cause to be paid any consideration to or for the benefit of any Holder for or as an inducement to any consent, waiver or amendment of any of the terms or provisions of this Indenture or the Notes unless such consideration is
offered to be paid and is paid to all Holders that consent, waive or agree to amend in the time frame set forth in the solicitation documents relating to such consent, waiver or agreement. 

SECTION 3.17. Compliance Certificate. 

(a) The Company shall deliver to the Trustee, within 120 days after the end of each fiscal year, an Officer’s Certificate stating that a
review of the activities of the Company and its Subsidiaries during the preceding fiscal year has been made under the supervision of the signing Officer with a view to determining whether the Company has kept, observed, performed and fulfilled in
all material respects its obligations under this Indenture, and further stating, as to each such Officer signing such certificate, that to his or her knowledge the Company has kept, observed, performed and fulfilled in all material respects each and
every covenant contained in this Indenture and is not in default in the performance or observance of any of the terms, provisions and conditions of this Indenture (or, 

  
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 if a Default or Event of Default has occurred and is continuing, describing all such Defaults or Events of
Default of which he or she may have knowledge and what action the Company is taking or proposes to take with respect thereto) and that to his or her knowledge no event has occurred and remains in existence by reason of which payments on account of
the principal of or interest, if any, on the Notes is prohibited or if such event has occurred, a description of the event and what action the Company is taking or proposes to take with respect thereto. 

(b) So long as any of the Notes are outstanding, the Company will deliver to the Trustee, forthwith upon any Officer becoming aware of any
Default or Event of Default, an Officer’s Certificate specifying such Default or Event of Default and what action the Company is taking or proposes to take with respect thereto. 

SECTION 3.18. [Reserved]. 

SECTION 3.19. Designation of Restricted and Unrestricted Subsidiaries. 

(a) The Board of Directors of the Company may designate any Restricted Subsidiary to be an Unrestricted Subsidiary if that designation would
not cause a Default. If a Restricted Subsidiary is designated as an Unrestricted Subsidiary after the Issue Date, the aggregate Fair Market Value of all outstanding Investments owned by the Company and its Restricted Subsidiaries in the Subsidiary
designated as Unrestricted will be deemed to be an Investment made as of the time of the designation and will be treated as a Restricted Payment under Section 3.3 hereof or a Permitted Investment under one or more clauses of the
definition of Permitted Investments, as determined by the Company. That designation will only be permitted if the Investment would be permitted at that time and if the Restricted Subsidiary otherwise meets the definition of an Unrestricted
Subsidiary. The Board of Directors of the Company may redesignate any Unrestricted Subsidiary to be a Restricted Subsidiary if that redesignation would not cause a Default. 

(b) Any designation of a Subsidiary of the Company as an Unrestricted Subsidiary will be evidenced to the Trustee by filing with the Trustee a
certified copy of a resolution of the Board of Directors giving effect to such designation and an Officer’s Certificate certifying that such designation complied with the preceding conditions and was permitted by Section 3.3 hereof.
If, at any time, any Unrestricted Subsidiary would fail to meet the preceding requirements as an Unrestricted Subsidiary, it will thereafter cease to be an Unrestricted Subsidiary for purposes of this Indenture and any Indebtedness of such
Subsidiary will be deemed to be incurred by a Restricted Subsidiary of the Company as of such date and, if such Indebtedness is not permitted to be incurred as of such date under Section 3.2 hereof, the Company will be in default of such
covenant. 
 (c) The Board of Directors of the Company may at any time designate any Unrestricted Subsidiary to be a Restricted Subsidiary
of the Company; provided that such designation will be deemed to be an incurrence of Indebtedness by a Restricted Subsidiary of the Company of any outstanding Indebtedness of such Unrestricted Subsidiary, and such designation will only be
permitted if (1) such Indebtedness is permitted under Section 3.2 hereof, calculated on a pro forma basis as if such designation had occurred at the beginning of the four-quarter reference period; and (2) no Default or Event of
Default would be in existence following such designation. 
 SECTION 3.20. Stay, Extension and Usury Laws. The Company and each of
the Guarantors covenants (to the extent that it may lawfully do so) that it will not at any time insist upon, plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay, extension or usury law wherever enacted, now or at
any time hereafter in force, that may affect the covenants or the performance of this Indenture; and the Company and each of the Guarantors (to the extent that it may lawfully do so) hereby expressly waives all benefit or advantage of any such law,
and covenants that it will not, by resort to any such law, hinder, delay or impede the execution of any power herein granted to the Trustee, but will suffer and permit the execution of every such power as though no such law has been enacted. 

  
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 ARTICLE IV 

SUCCESSOR COMPANY 
 SECTION
4.1. Merger; Consolidation or Sale of Assets. 
 (a) The Company will not, directly or indirectly: (1) consolidate or merge with
or into another Person (whether or not the Company is the surviving corporation); or (2) sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of the properties or assets of the Company and its Restricted
Subsidiaries taken as a whole, in one or more related transactions, to another Person, unless: 
 (1) either: (a) the
Company is the surviving corporation; or (b) the Person formed by or surviving any such consolidation or merger (if other than the Company) or to which such sale, assignment, transfer, conveyance or other disposition has been made is a
corporation, limited liability company or limited partnership organized or existing under the laws of the United States, any state of the United States or the District of Columbia (provided that if such Person is not a corporation, such
Person shall be required to cause a subsidiary of such Person that is a corporation to be a co-obligor under the Notes); 

(2) the Person formed by or surviving any such consolidation or merger (if other than the Company) or the Person to which such
sale, assignment, transfer, conveyance or other disposition has been made (such entity, the “Successor Company”) assumes all the obligations of the Company under the Notes, this Indenture, the Collateral Documents (as
applicable) and the Intercreditor Agreement, in each case, pursuant to agreements reasonably satisfactory to the Trustee, and shall cause such amendments, supplements or other instruments to be executed, filed, and recorded in such jurisdictions as
may be required by applicable law to preserve and protect the Lien on the Collateral owned by or transferred to the Successor Company, together with such financing statements or comparable documents as may be required to perfect any security
interests in such Collateral which may be perfected by the filing of a financing statement or a similar document under the Uniform Commercial Code or other similar statute or regulation of the relevant states or jurisdictions; 

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

(4) the Company or the Person formed by or surviving any such consolidation or merger (if other than the Company), or to which
such sale, assignment, transfer, conveyance or other disposition has been made, on the date of such transaction after giving pro forma effect thereto and any related financing transactions as if the same had occurred at the beginning of the
applicable four-quarter period, either 
 (A) would be permitted to incur at least $1.00 of additional Indebtedness pursuant
to the Fixed Charge Coverage Ratio test set forth in Section 3.2(a) hereof, or 
 (B) would have a Fixed Charge
Coverage Ratio greater than the Fixed Charge Coverage Ratio of the Company immediately prior to such transaction; 
 (5) each
Guarantor (unless the Company is the surviving corporation, or unless such Guarantor is the other party to the transactions above, in which case Section 4.1(b)(1)(B) shall apply) shall have by supplemental indenture (substantially in the
form of Exhibit C hereto) confirmed that its Note Guarantee shall apply to such Person’s Obligations in respect of this Indenture and the Notes and its obligations under the Collateral Documents and the Intercreditor Agreement shall
continue to be in effect and shall cause such amendments, supplements or other instruments to be executed, filed, and recorded in such jurisdictions as may be required by applicable law to preserve and protect the Lien on the Collateral owned by
such Guarantor, together with such financing statements or comparable documents as may be required to perfect any security interests in such Collateral which may be perfected by the filing of a financing statement or a similar document under the
Uniform Commercial Code or other similar statute or regulation of the relevant states or jurisdictions; 

  
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 (6) the Company (or, if applicable, the Successor Company) shall have delivered
to the Trustee an Officer’s Certificate stating that such consolidation, merger or transfer and such supplemental indentures, if any, comply with this Indenture; 

(7) the Collateral transferred to the Successor Company will (A) continue to constitute Collateral under this Indenture
and the Collateral Documents, (B) be subject to the Lien in favor of the Notes Collateral Agent for the benefit of the Holders, and (C) not be subject to any Lien, other than Liens permitted by the terms of this Indenture; and 

(8) to the extent that the assets of the Person which is merged or consolidated with or into the Successor Company are assets
of the type which would constitute Collateral under the Collateral Documents, the Successor Company will take such other actions as may be reasonably necessary to cause such property and assets to be made subject to the Lien of the Collateral
Documents in the manner and to the extent required in this Indenture. 
 In addition, the Company will not, directly or indirectly, lease
all or substantially all of the properties and assets of it and its Restricted Subsidiaries taken as a whole, in one or more related transactions, to any other Person. 

The foregoing clauses (3) and (4) of this Section 4.1(a) will not apply to: 

(1) a merger of the Company with an Affiliate solely for the purpose of reincorporating the Company in another jurisdiction;

 (2) any consolidation or merger, or any sale, assignment, transfer, conveyance, lease or other disposition of assets
between or among the Company and the Guarantors; or 
 (3) transfers of accounts receivable and related assets of the type
specified in the definition of “Qualified Receivables Transaction” (or a fractional undivided interest therein) by a Receivables Subsidiary in a Qualified Receivables Transaction. 

(b) The Company will not permit any Guarantor to consolidate with or merge with or into or wind up into (whether or not the Guarantor is the
surviving corporation), or sell, assign, convey, transfer, lease, convey or otherwise dispose of all or substantially all of its properties and assets, in one or more related transactions, to any Person (other than to the Company or another
Guarantor) unless: 
 (1) if such entity remains a Guarantor, (A) the resulting, surviving or transferee Person (the
“Successor Guarantor”) will be a corporation, partnership, trust or limited liability company organized and existing under the laws of the United States of America, any State of the United States, the District of Columbia or
any other territory thereof; (B) the Successor Guarantor, if other than such Guarantor, expressly assumes in writing by supplemental indenture (and other applicable documents), executed and delivered to the Trustee, in form satisfactory to the
Trustee, all the obligations of such Guarantor under the Note Guarantee, this Indenture, the Collateral Documents (as applicable) and the Intercreditor Agreement and shall cause such amendments, supplements or other instruments to be executed,
filed, and recorded in such jurisdictions as may be required by applicable law to preserve and protect the Lien on the Collateral owned by or transferred to the Successor Guarantor, together with such financing statements or comparable documents as
may be required to perfect any security interests in such Collateral which may be perfected by the filing of a financing statement or a similar document under the Uniform Commercial Code or other similar statute or regulation of the relevant states
or jurisdictions; (C) immediately after giving effect to such transaction (and treating any Indebtedness which becomes an obligation of the Successor Guarantor or any Restricted Subsidiary as a result of such transaction as having been Incurred
by the Successor Guarantor or such Restricted Subsidiary at the time of such transaction), no Default of Event of Default shall have occurred and be continuing; and (D) the Company will have delivered to the Trustee an Officer’s
Certificate and an Opinion of Counsel, stating that such consolidation, merger or transfer and such supplemental indenture (if any) comply with this Indenture and all conditions precedent are satisfied; and 

(2) the transaction is made in compliance with Section 3.5 hereof to the extent applicable. 

  
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 Notwithstanding the foregoing, any Guarantor may (1) merge with or into or transfer all or
part of its properties and assets to another Guarantor or the Company, (2) merge with a Restricted Subsidiary of the Company solely for the purpose of reincorporating the Guarantor in a State of the United States or the District of Columbia, as
long as the amount of Indebtedness of such Guarantor and its Restricted Subsidiaries is not increased thereby, (3) convert into a corporation, partnership, limited partnership, limited liability corporation or trust organized or existing under
the laws of the jurisdiction of organization of such Guarantor or (4) liquidate or dissolve if the Company determines in good faith that such action is in the best interests of the Company and is not materially disadvantageous to the Holders.

 (c) For purposes of this Section 4.1 the sale, lease, conveyance, assignment, transfer, or other disposition of all or
substantially all of the properties and assets of one or more Subsidiaries of the Company, which properties and assets, if held by the Company instead of such Subsidiaries, would constitute all or substantially all of the properties and assets of
the Company on a consolidated basis, shall be deemed to be the transfer of all or substantially all of the properties and assets of the Company. 

(d) The Company and a Guarantor, as the case may be, will be released from its obligations under this Indenture and the Successor Company and
the Successor Guarantor, as the case may be, will succeed to, and be substituted for, and may exercise every right and power of, the Company or a Guarantor, as the case may be, under this Indenture, the Collateral Documents (as applicable) and the
Intercreditor Agreement, but, in the case of a lease of all or substantially all its assets, the predecessor Company will not be released from the obligation to pay the principal of and interest on the Notes and a Guarantor will not be released from
its obligations under its Note Guarantee. 
 ARTICLE V 

REDEMPTION AND PREPAYMENT 

SECTION 5.1. Notices to Trustee. If the Company elects to redeem Notes pursuant to the optional redemption provisions of
Section 5.7 hereof, it must furnish to the Trustee, at least 30 days but not more than 60 days before a redemption date, an Officer’s Certificate setting forth: 

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

(2) the redemption date; 

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

(4) the redemption price. 

Any redemption referenced in such Officer’s Certificate may be cancelled by the Company at any time prior to notice of redemption being
mailed to any Holder and thereafter shall be null and void. 
 SECTION 5.2. Selection of Notes to Be Redeemed or Purchased. If less
than all of the Notes are to be redeemed pursuant to Section 5.7 hereof or purchased in an Asset Disposition Offer or a Collateral Disposition Offer pursuant to Section 3.5 hereof or a Change of Control Offer pursuant to
Section 3.10 hereof, the Trustee will select Notes for redemption or purchase: 
 (1) if the Notes are listed on
any national securities exchange, in compliance with the requirements of the principal national securities exchange on which the Notes are listed; 

(2) if the Notes are not listed on any national securities exchange, on a pro rata basis to the extent practicable, or, to the
extent that selection on a pro rata basis is not practicable for any reason, by lot or by such other method the Trustee shall deem fair and appropriate and in accordance with the rules of DTC; or 

(3) as otherwise required by law. 

  
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 No Notes of $2,000 or less can be redeemed in part. In the event of partial redemption, the
particular Notes to be redeemed or purchased will be selected, unless otherwise provided herein, not less than 30 days nor more than 60 days prior to the redemption or purchase date by the Trustee from the outstanding Notes not previously called for
redemption or purchase. 
 The Trustee will promptly notify the Company in writing of the Notes selected for redemption or purchase and, in
the case of any Note selected for partial redemption or purchase, the principal amount thereof to be redeemed or purchased. Notes and portions of Notes selected will be in amounts of $2,000 or whole multiples of $1,000 in excess thereof; except that
if all of the Notes of a Holder are to be redeemed or purchased, the entire outstanding amount of Notes held by such Holder, even if not a multiple of $1,000, shall be redeemed or purchased. Except as provided in the preceding sentence, provisions
of this Indenture that apply to Notes called for redemption or purchase also apply to portions of Notes called for redemption or purchase. 

SECTION 5.3. Notice of Redemption. At least 30 days but not more than 60 days before a redemption date, the Company will deliver by
electronic transmission (including “pdf” on letterhead (if applicable) and signed by an authorized signer), mail or cause to be mailed, by first class mail, a notice of redemption to each Holder whose Notes are to be redeemed at its
registered address, except that redemption notices may be mailed more than 60 days prior to a redemption date if the notice is issued in connection with a defeasance of the Notes or a satisfaction and discharge of this Indenture pursuant to
Article VIII or XII hereof. 
 The notice will identify the Notes (including the CUSIP number) to be redeemed and will state:

 (1) the redemption date; 

(2) the redemption price; 

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

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

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

(6) that, unless the Company defaults in making such redemption payment, interest on Notes or portions of Notes called for
redemption ceases to accrue on and after the redemption date; 
 (7) the paragraph or sub-paragraph of the Notes and/or
Section of this Indenture pursuant to which the Notes called for redemption are being redeemed; 
 (8) that no representation
is made as to the correctness or accuracy of the CUSIP number, if any, listed in such notice or printed on the Notes; and 

(9) if such redemption is pursuant to Section 5.7(a), any conditions to such redemption. 

At the Company’s request, the Trustee will give the notice of redemption in the Company’s name and at its expense;
provided, however, that the Company has delivered to the Trustee, at least 35 days prior to the redemption date (or such shorter period as the Trustee shall agree), an Officer’s Certificate requesting that the Trustee give such
notice and setting forth the information to be stated in such notice as provided in the preceding paragraph. 
 Notice of any redemption of
Notes described herein, whether in connection with an Equity Offering or otherwise, may be given prior to such redemption, and any such redemption or notice may, at the Company’s discretion, 

  
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be subject to one or more conditions precedent, including, but not limited to, completion of the related Equity Offering. In addition, if such redemption is subject to satisfaction of one or more
conditions precedent, such notice of redemption shall describe each such condition and, if applicable, shall state that, in the Company’s discretion, the redemption date may be delayed until such time as any or all such conditions shall be
satisfied (or waived by the Company in its sole discretion), or such redemption may not occur and such notice may be rescinded in the event that any or all such conditions shall not have been satisfied (or waived by the Company in its sole
discretion) by the redemption date as stated in such notice, or by the redemption date as so delayed. The Company may provide in such notice that payment of the redemption price and performance of the Company’s obligations with respect to such
redemption may be performed by another Person. 
 SECTION 5.4. Effect of Notice of Redemption. Once notice of redemption is mailed in
accordance with Section 5.3 hereof, Notes called for redemption become due and payable on the redemption date at the redemption price (subject to the last paragraph in Section 5.3). A notice of redemption may not be conditional
except that optional redemptions pursuant to Section 5.7(a) hereof may, at the Company’s discretion, be subject to one or more conditions precedent, including, but not limited to, completion of an Equity Offering. 

SECTION 5.5. Deposit of Redemption or Purchase Price. Prior to 11:00 a.m. Eastern Time on the redemption or purchase date, the Company
will deposit with the Trustee or with the Paying Agent money sufficient to pay the redemption or purchase price of and accrued and unpaid interest, if any, on, all Notes to be redeemed or purchased on that date. The Trustee or the Paying Agent will
promptly return to the Company any money deposited with the Trustee or the Paying Agent by the Company in excess of the amounts necessary to pay the redemption or purchase price of, and accrued and unpaid interest, if any, on, all Notes to be
redeemed or purchased. 
 If the Company complies with the provisions of the preceding paragraph, on and after the redemption or purchase
date, interest will cease to accrue on the Notes or the portions of Notes called for redemption or purchase. If a Note is redeemed or purchased on or after an interest record date but on or prior to the related interest payment date, then any
accrued and unpaid interest to the redemption date or purchase date shall be paid to the Person in whose name such Note was registered at the close of business on such record date. If any Note called for redemption or purchase is not so paid upon
surrender for redemption or purchase because of the failure of the Company to comply with the preceding paragraph, interest shall be paid on the unpaid principal, from the redemption or purchase date until such principal is paid, and to the extent
lawful on any interest accrued to the redemption or purchase date not paid on such unpaid principal, in each case at the rate provided in the Notes and in Section 3.1 hereof 

SECTION 5.6. Notes Redeemed or Purchased in Part. Upon cancellation of a Note that is redeemed or purchased in part, the Company will
issue and, upon receipt of a Company Order, the Trustee will authenticate and make available for delivery for the Holder at the expense of the Company a new Note equal in principal amount to the unredeemed or unpurchased portion of the Note
cancelled; provided, that each such new Note will be in a principal amount of $2,000 or integral multiples of $1,000 in excess thereof. It is understood that, notwithstanding anything in this Indenture to the contrary, only a Company Order
and not an Opinion of Counsel or Officer’s Certificate is required for the Trustee to authenticate such new Note. 
 SECTION 5.7.
Optional Redemption. 
 (a) At any time prior to November 1, 2016 the Company may on any one or more occasions redeem up to 35%
of the aggregate principal amount of Notes issued under this Indenture at a redemption price of 108.500% of the principal amount, plus accrued and unpaid interest to the redemption date, with the net cash proceeds of one or more Equity Offerings of
the Company (or of any Parent, to the extent such proceeds are contributed to the Company’s common equity capital); provided that: 

(1) at least 65% of the aggregate principal amount of the Initial Notes (excluding Notes held by the Company and its
Subsidiaries) remains outstanding immediately after the occurrence of such redemption; and 
 (2) the redemption occurs
within 90 days of the date of the closing of such Equity Offering or contribution. 

  
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 (b) At any time prior to November 1, 2016 the Company may redeem all or a part of the Notes,
upon not less than 30 days’ nor more than 60 days’ prior notice mailed by first-class mail to each Holder’s registered address or otherwise in accordance with the procedures of DTC, at a redemption price equal to 100% of the principal
amount of Notes redeemed plus the Applicable Premium as of, and accrued and unpaid interest to, the date of redemption (the “Redemption Date”), subject to the rights of Holders on the relevant record date to receive interest
due on the relevant interest payment date. 
 (c) [Reserved]. 

(d) Except pursuant to Section 5.7(a) or (b), the Notes shall not be redeemable at the Company’s option prior to
November 1, 2016. 
 (e) On or after November 1, 2016 the Company may redeem all or a part of the Notes upon not less than 30
days’ nor more than 60 days’ notice, at the redemption prices (expressed as percentages of principal amount) set forth below plus accrued and unpaid interest on the Notes redeemed, to the applicable redemption date, if redeemed during the
twelve-month period beginning on November 1 of the years indicated below, subject to the rights of Holders on the relevant record date to receive interest on the relevant interest payment date: 

 

					
	 Year
	  	Percentage	 
	 2016
	  	 	104.250	% 
	 2017
	  	 	102.125	% 
	 2018
	  	 	100.000	% 

 (f) Unless the Company defaults in the payment of the redemption price, interest will cease to accrue on the
Notes or portions thereof called for redemption on the applicable redemption date. 
 (g) Any redemption pursuant to this
Section 5.7 shall be made pursuant to the provisions of Sections 5.1 through 5.6 hereof. 
 SECTION 5.8.
Mandatory Redemption. Except to the extent the Company may be required to offer to purchase the Notes pursuant to Sections 3.5 and 3.10 hereof, the Company is not required to make mandatory repurchase, redemption or sinking fund
payments with respect to the Notes. However, the Company may at any time and from time to time purchase Notes in the open market or otherwise. 

ARTICLE VI 
 DEFAULTS AND
REMEDIES 
 SECTION 6.1. Events of Default. Each of the following is an “Event of Default”: 

(1) default for 30 days in the payment when due of interest on the Notes; 

(2) default in the payment when due (at maturity, upon redemption or otherwise) of the principal of, or premium, if any, on,
the Notes; 
 (3) failure by the Company or any of its Restricted Subsidiaries to comply with the provisions of
Section 3.5, 3.10 or 4.1 hereof; 
 (4) failure by the Company or any of its Restricted
Subsidiaries for 60 days after notice to the Company by the Trustee or the Holders of at least 25% in aggregate principal amount of the Notes then outstanding voting as a single class to comply with any of the other agreements in this Indenture, the
Notes, the Collateral Documents or the Intercreditor Agreement; 

  
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 (5) default under any mortgage, indenture or instrument under which there may be
issued or by which there may be secured or evidenced any Indebtedness for money borrowed by the Company or any of its Restricted Subsidiaries (or the payment of which is guaranteed by the Company or any of its Restricted Subsidiaries), whether such
Indebtedness or guarantee now exists, or is created after the Issue Date, if that default: 
 (a) is caused by a failure to
pay any such Indebtedness at its final Stated Maturity (after giving effect to any applicable grace period) (a “Payment Default”); or 

(b) results in the acceleration of such Indebtedness prior to its final Stated Maturity, 

and, in each case, the principal amount of any such Indebtedness, together with the principal amount of any other such Indebtedness under which
there has been a Payment Default or the maturity of which has been so accelerated, aggregates $15.0 million or more; 

(6) failure by the Company or any of its Significant Subsidiaries to pay final and nonappealable judgments entered by a court
or courts of competent jurisdiction aggregating in excess of $15.0 million (net of any amount covered by insurance issued by a national insurance company that has not contested coverage), which judgments are not paid, discharged or stayed for a
period of 60 days and in the event such judgment is covered by insurance, an enforcement proceeding has been commenced by any creditor upon such judgment or decree which is not promptly stayed; 

(7) any (x) Note Guarantee, (y) Collateral Document governing a security interest with respect to any Collateral
having a fair market value in excess of $15.0 million or (z) obligation under the Intercreditor Agreement, in each case, of the Company or a Significant Subsidiary or group of Restricted Subsidiaries that taken together as of the date of the
latest audited consolidated financial statements for the Company and its Restricted Subsidiaries would constitute a Significant Subsidiary ceases to be in full force and effect (except as contemplated by the terms of this Indenture and the Note
Guarantees) or is declared null and void in a judicial proceeding or the Company or any Guarantor that is a Significant Subsidiary or group of Guarantors that taken together as of the date of the latest audited consolidated financial statements of
the Company and its Restricted Subsidiaries would constitute a Significant Subsidiary denies or disaffirms its obligations under this Indenture; 

(8) the Company or any of its Restricted Subsidiaries that is a Significant Subsidiary or any group of Restricted Subsidiaries
that, taken together, would constitute a Significant Subsidiary, pursuant to or within the meaning of any Bankruptcy Law: 

(A) commences proceedings to be adjudicated bankrupt or insolvent, 

(B) consents to the institution of bankruptcy or insolvency proceedings against it, or the filing by it of a petition or answer
or consent seeking reorganization or relief under applicable Bankruptcy Law, 
 (C) consents to the appointment of a
custodian of it or for all or substantially all of its property, 
 (D) makes a general assignment for the benefit of its
creditors, or 
 (E) generally is not paying its debts as they become due; 

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

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

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

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

(10) with respect to any Collateral having a fair market value in excess of $15.0 million, individually or in the aggregate,
(A) the failure of the security interest with respect to such Collateral under the Collateral Documents, at any time, to be in full force and effect for any reason other than in accordance with their terms and the terms of this Indenture and
other than the satisfaction in full of all obligations under this Indenture and discharge of this Indenture if such Default continues for 60 days, (B) the declaration that the security interest with respect to such Collateral created under the
Collateral Documents or under this Indenture is invalid or unenforceable, if such Default continues for 60 days or (C) the assertion by the Company or any Guarantor, in any pleading in any court of competent jurisdiction, that any such security
interest is invalid or unenforceable. 
 SECTION 6.2. Acceleration. In the case of an Event of Default specified in clauses
(8) or (9) of Section 6.1 hereof, with respect to the Company, any Restricted Subsidiary of the Company that is a Significant Subsidiary or any group of Restricted Subsidiaries of the Company that, taken together, would constitute a
Significant Subsidiary, all outstanding Notes will become due and payable immediately without further action or notice. 
 If an Event of
Default (other than an Event of Default described in clause (8) or (9) of Section 6.1 hereof) occurs and is continuing, the Trustee by written notice to the Company, or the Holders of at least 25% in aggregate principal amount
of the then-outstanding Notes by notice to the Company and the Trustee, may, and the Trustee at the request of such Holders shall, declare the principal of, premium, if any, and accrued and unpaid interest, if any, on all the Notes to be due and
payable. Upon such a declaration, such principal, premium and accrued and unpaid interest shall be due and payable immediately. 
 In the
case of an Event of Default specified in clause (5) of Section 6.1 hereof, such Event of Default and all consequences thereof (excluding, however, any resulting payment default) will be annulled, waived and rescinded, automatically
and without any action by the Trustee or the Holders, if within 20 days after such Event of Default arose the Company delivers an Officer’s Certificate to the Trustee stating that (x) the Indebtedness that is the basis for such Event of
Default has been discharged or (y) the holders thereof have rescinded or waived the acceleration, notice or action (as the case may be) giving rise to such Event of Default or (z) the default that is the basis for such Event of Default has
been cured, it being understood that in no event shall an acceleration of the principal amount of the Notes as described above be annulled, waived or rescinded upon the happening of such events. 

SECTION 6.3. Other Remedies. If an Event of Default occurs and is continuing, the Trustee may pursue any available remedy by proceeding
at law or in equity to collect the payment of principal of (or premium, if any) or interest on the Notes or to enforce the performance of any provision of the Notes, this Indenture, the Note Guarantees, the Collateral Documents or the Intercreditor
Agreement. 
 The Trustee may maintain a proceeding even if it does not possess any of the Notes or does not produce any of them in the
proceeding. A delay or omission by the Trustee or any Holder in exercising any right or remedy accruing upon an Event of Default shall not impair the right or remedy or constitute a waiver of or acquiescence in the Event of Default. No remedy is
exclusive of any other remedy. All available remedies are cumulative to the extent provided by law; provided that once all amounts due to Holders under this Indenture and the Notes, including, without limitation, principal, premium and
interest, shall have been paid, there shall be no duplication of any recovery provided by such remedies. 

  
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 SECTION 6.4. Waiver of Past Defaults. Holders of not less than a majority in aggregate
principal amount of the then outstanding Notes by written notice to the Trustee may, on behalf of the Holders of all of the Notes, (i) waive an existing Default or Event of Default and its consequences hereunder, except a continuing Default or
Event of Default in the payment of the principal of, premium or interest on, the Notes and (ii) rescind an acceleration and its consequences. Upon any such waiver, such Default shall cease to exist, and any Event of Default arising therefrom
shall be deemed to have been cured for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other Default or impair any right consequent thereon. 

SECTION 6.5. Control by Majority. Subject to the terms of the Notes Pledge and Security Agreement and the Intercreditor Agreement, the
Holders of a majority in aggregate principal amount of the then outstanding Notes may direct the time, method and place of conducting any proceeding for exercising any remedy available to the Trustee or of exercising any trust or power conferred on
the Trustee. However, the Trustee may refuse to follow any direction that conflicts with law or this Indenture, the Notes, the Note Guarantees, the Collateral Documents or the Intercreditor Agreement or, subject to Sections 7.1 and 7.2
that the Trustee determines is unduly prejudicial to the rights of other Holders or would involve the Trustee in personal liability; provided, however, that the Trustee may take any other action deemed proper by the Trustee that is not
inconsistent with such direction. 
 The Trustee may withhold from Holders notice of any continuing Default or Event of Default if it
determines that withholding notice is in their interest, except a Default or Event of Default relating to the payment of principal, interest or premium. 

Subject to the provisions of this Indenture relating to the duties of the Trustee or the Notes Collateral Agent, in case an Event of Default
occurs and is continuing, the Trustee or the Notes Collateral Agent will be under no obligation to exercise any of the rights or powers under this Indenture, the Notes, the Note Guarantees, the Collateral Documents and the Intercreditor Agreement at
the request or direction of any Holders unless such Holders have offered to the Trustee or the Notes Collateral Agent indemnity or security satisfactory to it against any loss, liability or expense. 

SECTION 6.6. Limitation on Suits. Except to enforce the right to receive payment of principal, premium, if any, or interest when due,
no Holder of a Note may pursue any remedy with respect to this Indenture or the Notes unless: 
 (1) such Holder has
previously given the Trustee written notice that an Event of Default is continuing; 
 (2) Holders of at least 25% in
aggregate principal amount of the then outstanding Notes have requested the Trustee in writing to pursue the remedy; 
 (3)
such Holders have offered the Trustee security or indemnity satisfactory to it against any loss, liability or expense; 
 (4)
the Trustee has not complied with such request within 60 days after the receipt of the written request and the offer of security or indemnity; and 

(5) Holders of a majority in aggregate principal amount of the then outstanding Notes have not given the Trustee a direction
inconsistent with such request within such 60-day period. 
 SECTION 6.7. Rights of Holders to Receive Payment. Notwithstanding any
other provision of this Indenture (including, without limitation, Section 6.6(1)), the right of any Holder to receive payment of principal of, premium (if any) or interest on the Notes held by such Holder, on or after the respective due
dates expressed or provided for in the Notes, or to bring suit for the enforcement of any such payment on or after such respective dates, shall not be impaired or affected without the consent of such Holder; provided that a Holder shall not
have the right to institute any such suit for the enforcement of payment if and to the extent that the institution or prosecution thereof or the entry of judgment therein would, under applicable law, result in the surrender, impairment, waiver or
loss of the lien of this Indenture under any property subject to such Lien. 

  
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 SECTION 6.8. Collection Suit by Trustee. If an Event of Default specified in
Section 6.1(1) or (2) hereof occurs and is continuing, the Trustee is authorized to recover judgment in its own name and as trustee of an express trust against the Company for the whole amount of principal of, premium and
interest remaining unpaid on, the Notes and interest on overdue principal and, to the extent lawful, interest and such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation,
expenses, disbursements and advances of the Trustee, its agents and counsel. 
 SECTION 6.9. Trustee May File Proofs of Claim. The
Trustee may file such proofs of claim and other papers or documents as may be necessary or advisable in order to have the claims of the Trustee (including any claim for the reasonable compensation, expenses, disbursements and advances of the
Trustee, its agents and counsel) and the Holders allowed in any judicial proceedings relative to the Company, its Subsidiaries or its or their respective creditors or properties and, unless prohibited by law or applicable regulations, may be
entitled and empowered to participate as a member of any official committee of creditors appointed in such matter and may vote on behalf of the Holders in any election of a trustee in bankruptcy or other Person performing similar functions, and any
custodian in any such judicial proceeding is hereby authorized by each Holder to make payments to the Trustee and, in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any amount
due it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and its counsel, and any other amounts due the Trustee under Section 7.7. 

No provision of this Indenture shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder
any plan of reorganization, arrangement, adjustment or composition affecting the Notes or the rights of any Holder thereof or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding. 

SECTION 6.10. Priorities. 

(a) Subject to the terms of the Notes Pledge and Security Agreement and the Intercreditor Agreement, if the Trustee collects any money or
property pursuant to this Article VI, or pursuant to the foreclosure or other remedial provisions contained in the Collateral Documents or the Intercreditor Agreement, it shall pay out the money or proceeds of property in the following order:

 FIRST: to the Trustee for amounts due to it under Section 7.7 and to the Notes Collateral Agent for fees and
expenses, including reasonable attorneys’ fees and expenses, incurred under this Indenture, the Collateral Documents, the Intercreditor Agreement or any Junior Lien Intercreditor Agreement; 

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

THIRD: without duplication, to the Holders for any other Notes Obligations owing to the Holders under the Notes Documents; and

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

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

SECTION 6.11. Undertaking for Costs. In any suit for the enforcement of any right or remedy under this Indenture or in any suit against
the Trustee for any action taken or omitted by it as Trustee, a court in its discretion may require the filing by any party litigant in the suit of an undertaking to pay the costs of the suit, and the court in its discretion may assess reasonable
costs, including reasonable attorneys’ fees and expenses, against any party litigant in the suit, having due regard to the merits and good faith of the claims or defenses made by the party litigant. This Section 6.11 does not apply
to a suit by the Trustee, a suit by the Company, a suit by a Holder pursuant to Section 6.7 or a suit by Holders of more than 10% in outstanding principal amount of the Notes. 

  
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 ARTICLE VII 

TRUSTEE 
 SECTION 7.1.
Duties of Trustee. 
 (a) If an Event of Default has occurred and is continuing, the Trustee shall exercise the rights and powers
vested in it by this Indenture and use the same degree of care and skill in its exercise as a prudent Person would exercise or use under the circumstances in the conduct of such person’s own affairs; provided that the Trustee will be
under no obligation to exercise any of the rights or powers under this Indenture, the Notes, the Note Guarantees, the Collateral Documents or the Intercreditor Agreement at the request or direction of any of the Holders unless such Holders have
offered the Trustee indemnity or security reasonably satisfactory to it against loss, liability or expense. 
 (b) Except during the
continuance of an Event of Default: 
 (1) the Trustee undertakes to perform such duties and only such duties as are
specifically set forth in this Indenture and no implied covenants or obligations shall be read into this Indenture against the Trustee; and 

(2) in the absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the statements and the
correctness of the opinions expressed therein, upon certificates, opinions or orders furnished to the Trustee and conforming to the requirements of this Indenture, the Notes, the Note Guarantees, the Collateral Documents or the Intercreditor
Agreement, as applicable. However, in the case of any such certificates or opinions which by any provisions hereof or thereof are specifically required to be furnished to the Trustee, the Trustee shall examine such certificates and opinions to
determine whether or not they conform to the requirements of this Indenture, the Notes, the Note Guarantees, the Collateral Documents or the Intercreditor Agreement, as the case may be (but need not confirm or investigate the accuracy of
mathematical calculations or other facts stated therein). 
 (c) The Trustee may not be relieved from liability for its own negligent
action, its own negligent failure to act or its own willful misconduct, except that: 
 (1) this Section 7.1(c)
does not limit the effect of Section 7.1(b); 
 (2) the Trustee shall not be liable for any error of judgment
made in good faith by a Trust Officer of the Trustee unless it is proved that the Trustee was negligent in ascertaining the pertinent facts; 

(3) the Trustee shall not be liable with respect to any action it takes or omits to take in good faith in accordance with a
direction received by it pursuant to Section 6.5 and 
 (4) No provision of this Indenture, the Notes, the Note
Guarantees, the Collateral Documents or the Intercreditor Agreement shall require the Trustee to expend or risk its own funds or otherwise incur financial liability in the performance of any of its duties hereunder or thereunder or in the exercise
of any of its rights or powers, if it shall have reasonable grounds to believe that repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured to it. 

(d) Every provision of this Indenture that in any way relates to the Trustee is subject to clauses (a), (b) and (c) of this Section.

 (e) The Trustee shall not be liable for interest on any money received by it except as the Trustee may agree in writing with the Company.

 (f) Money held in trust by the Trustee need not be segregated from other funds except to the extent required by law, the Collateral
Documents, the Intercreditor Agreement or by Section 11.8. 

  
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 (g) Every provision of this Indenture relating to the conduct or affecting the liability of or
affording protection to the Trustee shall be subject to the provisions of this Section. 
 (h) Unless otherwise specifically provided in
this Indenture, any demand, request, direction or notice from the Company shall be sufficient if signed by one Officer of the Company. 

SECTION 7.2. Rights of Trustee. Subject to Section 7.1: 

(a) The Trustee may conclusively rely on any document (whether in its original or facsimile form) reasonably believed by it to
be genuine and to have been signed or presented by the proper person. The Trustee need not investigate any fact or matter stated in the document. The Trustee shall receive and retain financial reports and statements of the Company as provided
herein, but shall have no duty to review or analyze such reports or statements to determine compliance with covenants or other obligations of the Company. 

(b) Before the Trustee acts or refrains from acting, it may require an Officer’s Certificate and/or an Opinion of Counsel.
The Trustee shall not be liable for any action it takes or omits to take in good faith in reliance on an Officer’s Certificate or Opinion of Counsel. 

(c) The Trustee may act through its attorneys, custodians, nominees and agents and shall not be responsible for the misconduct
or negligence of any attorney, custodian, nominee or agent appointed with due care. 
 (d) Subject to
Section 7.1(c), the Trustee shall not be liable for any action it takes or omits to take in good faith which it believes to be authorized or within its rights or powers. 

(e) The Trustee may consult with counsel of its selection, and the advice or opinion of counsel with respect to legal matters
relating to this Indenture, the Notes, the Note Guarantees, the Collateral Documents or the Intercreditor Agreement shall be full and complete authorization and protection from liability in respect of any action taken, omitted or suffered by it
hereunder or under the Notes, the Note Guarantees, the Collateral Documents or the Intercreditor Agreement in good faith and in accordance with the advice or opinion of such counsel. 

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

(g) The Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture, the Notes,
the Note Guarantees, the Collateral Documents or the Intercreditor Agreement at the request, order or direction of any of the Holders pursuant to the provisions of this Indenture, unless such Holders shall have offered to the Trustee security or
indemnity reasonably satisfactory to it against the costs, expenses and liabilities which may be incurred therein or thereby. 

(h) Except as provided for herein, the Trustee shall not be deemed to have knowledge of any fact or matter unless such fact or
matter is actually known to a Trust Officer of the Trustee or such Trust Officer has received written notice of such fact at its corporate trust office. 

(i) Whenever in the administration of or in connection with this Indenture, the Notes, the Note Guarantees, the Collateral
Documents or the Intercreditor Agreement, the Company is required to provide an Officer’s Certificate, the Trustee shall deem it desirable that a matter be proved or established prior to taking, suffering or omitting any action hereunder or
thereunder, the Trustee (unless other evidence be herein specifically prescribed) may, as the case may be, request and in the absence of bad faith or willful misconduct on its part, rely upon such Officer’s Certificate. 

  
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 (j) In no event shall the Trustee be responsible or liable for any special,
indirect, punitive or consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit), irrespective of whether the Trustee has been advised of the likelihood of such loss or damage and regardless of the form of
action. 
 (k) The Trustee may request that the Company delivers an Officer’s Certificate setting forth the names of
individuals and/or titles of officers authorized at such time to take specified actions pursuant to this Indenture. 
 (l)
The Trustee shall not be bound to make any investigation into (i) the performance or observance of any of the covenants, agreements or other terms or conditions set forth herein or in any Collateral Documents, (ii) the occurrence of any
default, or the validity, enforceability, effectiveness or genuineness of this Indenture, any Collateral Documents or any other agreement, instrument or document, (iii) the creation, perfection or priority of any Lien purported to be created by
the Collateral Documents, (iv) the value or the sufficiency of any Collateral, or (v) the satisfaction of any condition set forth in any Collateral Documents, other than to confirm receipt of items expressly required to be delivered to the
Trustee. 
 (m) No provision of this Indenture, the Notes, or the Collateral Documents shall require the Trustee to expend or
risk its own funds or otherwise incur any financial liability in the performance of any of its duties hereunder or thereunder or in the exercise of any of its rights or powers, if it shall have reasonable grounds to believe that repayment of such
funds or adequate indemnity against such risk or liability is not reasonably assured to it. 
 (n) In the event that the
Trustee (in such capacity or in any other capacity hereunder or under any Collateral Document) is unable to decide between alternative courses of action permitted or required by the terms of this Indenture or any Collateral Document, or in the event
that the Trustee is unsure as to the application of any provision of this Indenture or any Collateral Document, or believes any such provision is ambiguous as to its application, or is, or appears to be, in conflict with any other application
provision, or in the event that this Indenture or any Collateral Document permits any determination by or the exercise of discretion on the part of the Trustee or is silent or is incomplete as to the course of action that the Trustee is required to
take with respect to a particular set of facts, the Trustee shall promptly give notice (in such form as shall be appropriate under the circumstances) to the Holders requesting instruction as to the course of action to be adopted, and to the extent
the Trustee acts in good faith in accordance with any written instructions received from a majority in aggregate principal amount of the then outstanding Notes, the Trustee shall not be liable on account of such action to any Person. If the Trustee
shall not have received appropriate instruction within 10 days of such notice (or such shorter period as reasonably may be specified in such notice or as may be necessary under the circumstances) it may, but shall be under no duty to, take or
refrain from taking such action as it shall deem to be in the best interests of the Holders and the Trustee shall have no liability to any Person for such action or inaction. 

(o) The Trustee shall not be liable with respect to any action taken or omitted to be taken by it in good faith in accordance
with any direction of the holders of a majority in aggregate principal amount of the then outstanding Notes permitted to be given by them under this Indenture. 

(p) The permissive rights of the Trustee to do things enumerated in this Indenture shall not be construed as a duty to take
such action. 
 (q) The rights, privileges, protections, immunities and benefits (except for as mentioned in
Section 11.9(c) herein) given to Wells Fargo Bank, National Association, including, without limitation, its right to be indemnified, are extended to, and shall be enforceable by, Wells Fargo Bank, National Association in each of its
capacities hereunder, including, without limitation, as Notes Collateral Agent, and to each agent, custodian and other Person employed to act hereunder (except for as mentioned in Section 11.9(c) herein). 

  
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 (r) The Trustee shall not be deemed to have notice of any Default or Event of
Default unless an officer of the Trustee has actual knowledge thereof or unless written notice of any event which is in fact such a default is received by the Trustee at the corporate trust office of the Trustee, and such notice references the Notes
and this Indenture. 
 (s) The Trustee shall not be required to give any bond or surety in respect of the performance of its
powers and duties hereunder. 
 SECTION 7.3. Individual Rights of Trustee. The Trustee in its individual or any other capacity may
become the owner or pledgee of Notes and may otherwise deal with the Company, Guarantors or their Affiliates with the same rights it would have if it were not Trustee. Any Paying Agent, Registrar, co-registrar or co-paying agent may do the same with
like rights. However, the Trustee must comply with Sections 7.10 and 7.11. In addition, the Trustee shall be permitted to engage in transactions with the Company; provided, however, that if the Trustee acquires any
conflicting interest under the TIA, the Trustee must (i) eliminate such conflict within 90 days of acquiring such conflicting interest or (ii) resign. 

SECTION 7.4. Trustee’s Disclaimer. The Trustee shall not be responsible for and makes no representation as to the validity or
adequacy of this Indenture, the Note Guarantees, the Collateral Documents, the Intercreditor Agreement or the Notes, shall not be accountable for the Company’s use of the proceeds from the sale of the Notes, shall not be responsible for the use
or application of any money received by any Paying Agent other than the Trustee or any money paid to the Company or upon the Company’s direction pursuant to the terms of this Indenture and shall not be responsible for any statement of the
Company in this Indenture or in any document issued in connection with the sale of the Notes (including without limitation any preliminary or final offering memorandum) or in the Notes other than the Trustee’s certificate of authentication.

 SECTION 7.5. Notice of Defaults. If a Default or Event of Default occurs and is continuing and if a Trust Officer receives written
notice of such event, the Trustee shall mail by first class mail to each Holder at the address set forth in the Notes Register notice of the Default or Event of Default within 90 days after it receives written notice to a Trust Officer. Except in
the case of a Default or Event of Default in payment of principal of, premium (if any), or interest on any Note (including payments pursuant to the optional redemption or required repurchase provisions of such Note), the Trustee may withhold the
notice if and so long as it in good faith determines that withholding the notice is in the interests of Holders. 
 SECTION 7.6. Reports
by Trustee to Holders. Within 60 days after each May 15 beginning May 15, 2014, the Trustee shall mail to each Holder a brief report dated as of such May 15 that complies with TIA § 313(a) (but if no event described in TIA
§ 313(a) has occurred within the 12 months preceding the reporting date, no report need be transmitted). The Trustee shall also comply with TIA § 313(b) and shall transmit by mail all reports as required by TIA § 313(c). 

A copy of each report at the time of its mailing to Holders shall be mailed by the Trustee to the Company. The Company agrees to notify
promptly the Trustee in writing whenever the Notes become listed on any stock exchange and of any delisting thereof. 
 SECTION 7.7.
Compensation and Indemnity. The Company and Guarantors shall pay to the Trustee from time to time compensation for its services hereunder and under the Notes, the Note Guarantees, the Collateral Documents and the Intercreditor Agreement as
the Company and the Trustee shall from time to time agree in writing. The Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Company and Guarantors shall jointly and severally reimburse
the Trustee upon request for all reasonable out-of-pocket expenses incurred or made by it, including, but not limited to, costs of collection, costs of preparing reports, certificates and other documents, costs of preparation and mailing of notices
to Holders. Such expenses shall include the reasonable compensation and expenses, disbursements and advances of the Trustee’s agents, counsel, accountants, custodians, nominees and experts. The Company and Guarantors shall jointly and severally
indemnify the Trustee, its directors, officers, employees and agents against any and all loss, liability, damages, claims or expense (including reasonable attorneys’ fees and expenses) incurred by it without willful misconduct, negligence or
bad faith on its part in connection with the administration of this trust and the performance of its duties hereunder 

  
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and under the Notes, the Note Guarantees, the Collateral Documents and the Intercreditor Agreement, including the costs and expenses of enforcing this Indenture (including this
Section 7.7, the Notes, the Note Guarantees, the Collateral Documents and the Intercreditor Agreement and of defending itself against any claims (whether asserted by any Holder, the Company or otherwise). The Trustee shall notify the
Company promptly of any claim for which it may seek indemnity of which it has received written notice. Failure by the Trustee to so notify the Company shall not relieve the Company of its obligations hereunder. The Company and Guarantors shall
defend the claim and the Trustee shall provide reasonable cooperation at the Company’s expense in the defense. The Trustee may have separate counsel and the Company and Guarantors shall pay the reasonable fees and expenses of such counsel;
provided that neither the Company nor any Guarantor need pay for any such settlement made without its consent (such consent not to be unreasonably withheld, conditioned or delayed); and provided further that the Company and Guarantors
shall not be required to pay the fees and expenses of such separate counsel if it assumes the Trustee’s defense, and, in the reasonable judgment of outside counsel to the Trustee, there is no conflict of interest between the Company and the
Trustee in connection with such defense. 
 To secure the Company’s and Guarantors’ payment obligations in this
Section 7.7, the Trustee shall have a lien prior to the Notes on all money or property held or collected by the Trustee other than money or property held in trust to pay principal of and interest on particular Notes. Such lien shall
survive the satisfaction and discharge of this Indenture. The Trustee’s right to receive payment of any amounts due under this Section 7.7 shall not be subordinate to any other liability or Indebtedness of the Company or Guarantors.

 The Company’s and Guarantors payment obligations pursuant to this Section shall survive the discharge of this Indenture, final
payment in full of the Notes and the resignation or removal of the Trustee. Without prejudice to any other rights available to the Trustee under applicable law, when the Trustee incurs expenses after the occurrence of a Default specified in clause
(8) or clause (9) of Section 6.1 the expenses are intended to constitute expenses of administration under any Bankruptcy Law. 

SECTION 7.8. Replacement of Trustee. The Trustee may resign at any time by so notifying the Company in writing. The Holders of a
majority in aggregate principal amount of the Notes may remove the Trustee by so notifying the removed Trustee in writing and may appoint a successor Trustee with the Company’s written consent, which consent will not be unreasonably withheld.
The Company shall remove the Trustee if: 
 (1) the Trustee fails to comply with Section 7.10 hereof; 

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

(4) the Trustee otherwise becomes incapable of acting. 

If the Trustee resigns or is removed by the Company or by the Holders of a majority in aggregate principal amount of the Notes (the Trustee in
such event being referred to herein as the retiring Trustee) and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason, the Company shall promptly appoint a successor
Trustee. 
 A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon
the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to
Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.7. 

If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the
Holders of at least 10% in aggregate principal amount of the Notes may petition, at the Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. 

  
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 If the Trustee fails to comply with Section 7.10, any Holder, who has been a bona
fide Holder of a Note for at least six months, may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. 

Notwithstanding the replacement of the Trustee pursuant to this Section 7.8 the Company’s obligations under
Section 7.7 shall continue for the benefit of the retiring Trustee. 
 SECTION 7.9. Successor Trustee by Merger. If the
Trustee consolidates with, merges or converts into, or transfers all or substantially all of its corporate trust business or assets to, another corporation or banking association, the resulting, surviving or transferee corporation without any
further act shall be the successor Trustee. 
 In case at the time such successor or successors by merger, conversion or consolidation to
the Trustee shall succeed to the trusts created by this Indenture, any of the Notes shall have been authenticated but not delivered, any such successor to the Trustee may adopt the certificate of authentication of any predecessor trustee, and
deliver such Notes so authenticated; and in case at that time any of the Notes shall not have been authenticated, any successor to the Trustee may authenticate such Notes either in the name of any predecessor hereunder or in the name of the
successor to the Trustee; provided that the right to adopt the certificate of authentication of any predecessor Trustee or authenticate Notes in the name of any predecessor Trustee shall only apply to its successor or successors by merger,
consolidation or conversion. 
 SECTION 7.10. Eligibility; Disqualification. This Indenture shall always have a Trustee that
satisfies the requirements of TIA § 310(a)(1), (2) and (5) in every respect. The Trustee shall have a combined capital and surplus of at least $100 million as set forth in its most recent published annual report of condition. The
Trustee shall comply with TIA § 310(b); provided, however, that there shall be excluded from the operation of TIA § 310(b)(1) any indenture or indentures under which other securities or certificates of interest or
participation in other securities of the Company are outstanding if the requirements for such exclusion set forth in TIA § 310(b)(1) are met. 

SECTION 7.11. Preferential Collection of Claims Against the Company. The Trustee shall comply with TIA § 311(a), excluding any
creditor relationship listed in TIA § 311(b). A Trustee who has resigned or been removed shall be subject to TIA § 311 (a) to the extent indicated therein. 

ARTICLE VIII 
 LEGAL DEFEASANCE
AND COVENANT DEFEASANCE 
 SECTION 8.1. Option to Effect Legal Defeasance or Covenant Defeasance; Defeasance. The Company may at
any time, at the option of its Board of Directors evidenced by a resolution set forth in an Officer’s Certificate delivered to the Trustee, elect to have either Section 8.2 or 8.3 hereof be applied to all outstanding Notes
and Note Guarantees upon compliance with the conditions set forth below in this Article VIII. 
 SECTION 8.2. Legal Defeasance and
Discharge. Upon the Company’s exercise under Section 8.1 hereof of the option applicable to this Section 8.2 the Company and each of the Guarantors will, subject to the satisfaction of the conditions set forth in
Section 8.4 hereof, be deemed to have been discharged from their obligations with respect to all outstanding Notes (including the Note Guarantees) on the date the conditions set forth below are satisfied (hereinafter, “Legal
Defeasance”). For this purpose, Legal Defeasance means that the Company and the Guarantors will be deemed to have paid and discharged the entire Indebtedness represented by the outstanding Notes (including the Note Guarantees), which
will thereafter be deemed to be “outstanding” only for the purposes of Section 8.5 hereof and the other Sections of this Indenture referred to in clauses (1) and (2) below, and to have satisfied all of their other
obligations under such Notes, the Note Guarantees and this Indenture (and the Trustee, on demand of and at the expense of the Company, shall execute proper instruments acknowledging the same), except for the following provisions which will survive
until otherwise terminated or discharged hereunder: 
 (1) the rights of Holders of outstanding Notes to receive payments in
respect of the principal of, or interest or premium on, such Notes when such payments are due from the trust referred to in Section 8.4 hereof; 

  
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 (2) the Company’s obligations with respect to such Notes under Article
II and Section 3.13 hereof; 
 (3) the rights, powers, trusts, duties and immunities of the Trustee, Paying
Agent and Registrar hereunder and the Company’s and the Guarantors’ obligations in connection therewith; and 
 (4)
this Section 8.2. 
 Subject to compliance with this Article VIII the Company may exercise its option under this
Section 8.2 notwithstanding the prior exercise of its option under Section 8.3 hereof. 
 SECTION 8.3. Covenant
Defeasance. Upon the Company’s exercise under Section 8.1 hereof of the option applicable to this Section 8.3 the Company and each of the Guarantors will, subject to the satisfaction of the conditions set forth in
Section 8.4 hereof, be released from each of their obligations under the covenants contained in Sections 3.2, 3.3, 3.4, 3.5, 3.6, 3.7, 3.8, 3.10, 3.11, 3.12,
3.16 and Section 4.1(a)(4) hereof with respect to the outstanding Notes on and after the date the conditions set forth in Section 8.4 hereof are satisfied (hereinafter, “Covenant Defeasance”),
and the Notes will thereafter be deemed not “outstanding” for the purposes of any direction, waiver, consent or declaration or act of Holders (and the consequences of any thereof) in connection with such covenants, but will continue to be
deemed “outstanding” for all other purposes hereunder (it being understood that such Notes will not be deemed outstanding for accounting purposes). For this purpose, Covenant Defeasance means that, with respect to the outstanding Notes and
Note Guarantees, the Company and the Guarantors may omit to comply with and will have no liability in respect of any term, condition or limitation set forth in any such covenant, whether directly or indirectly, by reason of any reference elsewhere
herein to any such covenant or by reason of any reference in any such covenant to any other provision herein or in any other document and such omission to comply will not constitute a Default or an Event of Default under Section 6.1
hereof, but, except as specified above, the remainder of this Indenture and such Notes and Note Guarantees will be unaffected thereby. In addition, upon the Company’s exercise under Section 8.1 hereof of the option applicable to
this Section 8.3 subject to the satisfaction of the conditions set forth in Section 8.4 hereof, Sections 6.1(3) through 6.1(7) and 6.1(10) hereof will not constitute Events of Default. 

SECTION 8.4. Conditions to Legal or Covenant Defeasance. In order to exercise either Legal Defeasance or Covenant Defeasance under
either Section 8.2 or 8.3 hereof: 
 (1) the Company must irrevocably deposit with the Trustee, in trust,
for the benefit of the Holders, cash in U.S. dollars, non-callable Government Securities, or a combination of cash in U.S. dollars and non-callable Government Securities, in amounts as will be sufficient, in the opinion of a nationally recognized
investment bank, appraisal firm or firm of independent public accountants, to pay the principal of, or interest and premium on, the outstanding Notes on the stated date for payment thereof or on the applicable redemption date, as the case may be,
and the Company must specify whether the Notes are being defeased to such stated date for payment or to a particular redemption date; 

(2) in the case of an election under Section 8.2 hereof, the Company must deliver to the Trustee an Opinion of
Counsel reasonably acceptable to the Trustee confirming that (a) the Company has received from, or there has been published by, the Internal Revenue Service a ruling or (b) since the Issue Date, there has been a change in the applicable
federal income tax law, in either case to the effect that, and based thereon such Opinion of Counsel shall confirm that, the Holders of the outstanding Notes will not recognize income, gain or loss for federal income tax purposes as a result of such
Legal Defeasance and will be subject to federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such Legal Defeasance had not occurred; 

(3) in the case of an election under Section 8.3 hereof, the Company must deliver to the Trustee an Opinion of
Counsel reasonably acceptable to the Trustee confirming that the Holders of the outstanding Notes will not recognize income, gain or loss for federal income tax purposes as a result of such Covenant Defeasance and will be subject to federal income
tax on the same amounts, in the same manner and at the same times as would have been the case if such Covenant Defeasance had not occurred; 

  
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 (4) no Default or Event of Default shall have occurred and be continuing on the
date of such deposit (other than a Default or Event of Default resulting from the borrowing of funds to be applied to such deposit and the granting of liens securing such funds) and the deposit will not result in a breach or violation of, or
constitute a default under, any Debt Facility or other material instrument to which the Company or any Guarantor is a party or by which the Company or any Guarantor is bound; 

(5) such Legal Defeasance or Covenant Defeasance will not result in a breach or violation of, or constitute a default under,
any material agreement or instrument (other than this Indenture) to which the Company or any of its Subsidiaries is a party or by which the Company or any of its Subsidiaries is bound; 

(6) the Company must deliver to the Trustee an Officer’s Certificate stating that the deposit was not made by the Company
with the intent of defeating, hindering, delaying or defrauding any creditors of the Company or others; and 
 (7) the
Company must deliver to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that all conditions precedent relating to the Legal Defeasance or the Covenant Defeasance have been complied with. 

SECTION 8.5. Deposited Money and Government Securities to Be Held in Trust; Other Miscellaneous Provisions. Subject to
Section 8.6 hereof, all money and non-callable Government Securities (including the proceeds thereof) deposited with the Trustee (or other qualifying trustee, collectively for purposes of this Section 8.5, the
“Trustee”) pursuant to Section 8.4 hereof in respect of the outstanding Notes will be held in trust and applied by the Trustee, in accordance with the provisions of such Notes and this Indenture, to the payment,
either directly or through any Paying Agent (including the Company acting as Paying Agent) as the Trustee may determine, to the Holders of such Notes of all sums due and to become due thereon in respect of principal, premium, and interest, but such
money need not be segregated from other funds except to the extent required by law. 
 The Company will pay and indemnify the Trustee
against any tax, fee or other charge imposed on or assessed against the cash or non-callable Government Securities deposited pursuant to Section 8.4 hereof or the principal and interest received in respect thereof other than any such
tax, fee or other charge which by law is for the account of the Holders of the outstanding Notes. 
 Notwithstanding anything in this
Article VIII to the contrary, the Trustee will deliver or pay to the Company from time to time upon the request of the Company any money or non-callable Government Securities held by it as provided in Section 8.4 hereof which, in
the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee (which may be the opinion delivered under Section 8.4(1) hereof), are in excess of the
amount thereof that would then be required to be deposited to effect an equivalent Legal Defeasance or Covenant Defeasance. 
 SECTION 8.6.
Repayment to the Company. Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal of, premium or interest on, any Note and remaining unclaimed for two years after such
principal, premium or interest has become due and payable shall be paid to the Company on its request unless an abandoned property law designates another Person or (if then held by the Company) will be discharged from such trust; and the Holder of
such Note will thereafter be permitted to look only to the Company for payment thereof unless an abandoned property law designates another Person, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all
liability of the Company as trustee thereof, will thereupon cease; provided, however, that the Trustee or such Paying Agent, before being required to make any such repayment, may at the expense of the Company cause to be published
once, in the New York Times and The Wall Street Journal (national edition), notice that such money remains unclaimed and that, after a date specified therein, which will not be less than 30 days from the date of such notification or publication, any
unclaimed balance of such money then remaining will be repaid to the Company. 
 SECTION 8.7. Reinstatement. If the Trustee or Paying
Agent is unable to apply any U.S. dollars or non-callable Government Securities in accordance with Section 8.2 or 8.3 hereof, as the case may be, by reason of any order or judgment of any court or governmental authority enjoining,
restraining or otherwise prohibiting such application, 

  
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then the Company’s and the Guarantors’ obligations under this Indenture and the Notes and the Note Guarantees will be revived and reinstated as though no deposit had occurred pursuant
to Section 8.2 or 8.3 hereof until such time as the Trustee or Paying Agent is permitted to apply all such money in accordance with Section 8.2 or 8.3 hereof, as the case may be; provided, however,
that, if the Company makes any payment of principal of, premium or interest on, any Note following the reinstatement of its obligations, the Company will be subrogated to the rights of the Holders of such Notes to receive such payment from the money
held by the Trustee or Paying Agent. 
 ARTICLE IX 

AMENDMENTS 
 SECTION 9.1.
Without Consent of Holders. Notwithstanding Section 9.2 of this Indenture, the Company, the Trustee and the Guarantors (with respect to its Note Guarantee) may amend or supplement this Indenture, the Notes, the Note Guarantees,
the Collateral Documents and the Intercreditor Agreement without the consent of any Holder: 
 (1) to cure any ambiguity,
defect or inconsistency; 
 (2) to provide for uncertificated Notes in addition to or in place of certificated Notes; 

(3) to provide for the assumption of the Company’s or a Guarantor’s obligations to Holders and Note Guarantees in the
case of a merger or consolidation or sale of all or substantially all of the Company’s or such Guarantor’s assets, as applicable; 

(4) to make any change that would provide any additional rights or benefits to the Holders or that does not adversely affect
the legal rights hereunder or under the Notes, the Note Guarantees, the Collateral Documents and the Intercreditor Agreement of any such Holder; 

(5) to conform the text of this Indenture, the Note Guarantees, the Notes, the Collateral Documents or the Intercreditor
Agreement to any provision of the “Description of Notes” section of the Offering Memorandum to the extent that such provision in that “Description of Notes” section was intended to be a verbatim recitation of a provision of this
Indenture, the Note Guarantees, the Notes, the Collateral Documents or the Intercreditor Agreement, as provided to the Trustee in an Officer’s Certificate; 

(6) to provide for the issuance of Additional Notes in accordance with the limitations set forth in this Indenture as of the
date hereof; 
 (7) to allow any Guarantor to execute a supplemental indenture substantially in the form of Exhibit C
hereto and/or a Note Guarantee with respect to the Notes; 
 (8) to secure any Pari Passu Lien Indebtedness under the
Collateral Documents and to appropriately include the same in the Intercreditor Agreement; 
 (9) to add additional
Collateral to secure the Notes Obligations; or 
 (10) to release Liens in favor of the Notes Collateral Agent in the
Collateral as provided in Section 11.6 hereof or release any Guarantor from its Note Guarantee as provided under Article X. 

Subject to Section 9.2 upon the request of the Company accompanied by a resolution of its Board of Directors authorizing the
execution of any such amended or supplemental indenture, and upon receipt by the Trustee of the documents described in Section 7.2 hereof, the Trustee will join with the Company and the Guarantors in the execution of such amended or
supplemental indenture unless such amended or supplemental indenture directly affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise, in which case the Trustee may in its discretion, but will not be obligated
to, enter into such amended or supplemental indenture. 

  
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 After an amendment or supplement under this Section becomes effective, the Company shall mail to
Holders a notice briefly describing such amendment or supplement. The failure to give such notice to all Holders, or any defect therein, shall not impair or affect the validity of an amendment or supplement under this Section. 

The Trustee shall be entitled to receive an Officer’s Certificate and Opinion of Counsel (other than with respect to a supplemental
indenture to add a Guarantor) confirming that all conditions precedent are satisfied with respect to any supplemental indenture and that such supplemental indenture is authorized or permitted. 

SECTION 9.2. With Consent of Holders. Except as provided below in this Section 9.2 the Company and the Trustee may amend or
supplement this Indenture, the Notes, the Note Guarantees, the Collateral Documents and the Intercreditor Agreement with the consent of the Holders of at least a majority in aggregate principal amount of the then outstanding Notes (including,
without limitation, Additional Notes, if any) voting as a single class (including, without limitation, consents obtained in connection with a tender offer or exchange offer for, or purchase of, the Notes), and, subject to Sections 6.4 and
6.7 hereof, any existing Default or Event of Default or compliance with any provision of this Indenture, the Notes, the Note Guarantees, the Collateral Documents or the Intercreditor Agreement may be waived with the consent of the Holders of
a majority in aggregate principal amount of the then outstanding Notes (including, without limitation, Additional Notes, if any) voting as a single class (including, without limitation, consents obtained in connection with a tender offer or exchange
offer for, or purchase of, the Notes). Section 2.11 hereof shall determine which Notes are considered to be “outstanding” for purposes of this Section 9.2. 

Upon the request of the Company accompanied by a resolution of its Board of Directors authorizing the execution of any such amended or
supplemental indenture, and upon the filing with the Trustee of evidence satisfactory to the Trustee of the consent of the Holders as aforesaid, and upon receipt by the Trustee of the documents described in Section 7.2 hereof, the Trustee
will join with the Company and the Guarantors in the execution of such amended or supplemental indenture unless such amended or supplemental indenture directly affects the Trustee’s own rights, duties or immunities under this Indenture or
otherwise, in which case the Trustee may in its discretion, but will not be obligated to, enter into such amended or supplemental Indenture. 

Without the consent of each Holder affected, an amendment, supplement or waiver may not (with respect to Notes held by a non-consenting
holder): 
 (1) reduce the principal amount of Notes whose Holders must consent to an amendment, supplement or waiver; 

(2) reduce the principal of or change the fixed maturity of any Note or alter the provisions with respect to the redemption of
the Notes (other than provisions relating to the covenants described in Section 3.5 and 3.10 and reductions in the required notice period); 

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

(4) waive a Default or Event of Default in the payment of principal of, or interest or premium on, the Notes (except a
rescission of acceleration of the Notes by the Holders of at least a majority in aggregate principal amount of the then outstanding Notes and a waiver of the payment default that resulted from such acceleration); 

(5) make any Note payable in money other than that stated in the Notes; 

(6) make any change in Section 6.4 or 6.7: 

(7) waive a redemption payment with respect to any Note (other than a payment required by Sections 3.5 and 3.10);

 (8) release any Guarantor from any of its obligations under its Note Guarantee or this Indenture, except in accordance
with the terms of this Indenture; or 
 (9) make any change in the preceding amendment and waiver provisions. 

  
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 Without the consent of Holders of 75% in aggregate principal amount of Notes then outstanding, an
amendment, supplement or waiver may not: 
 (1) modify any Collateral Document or the provisions in this Indenture dealing
with Collateral Documents or application of trust moneys in any manner, taken as a whole, materially adverse to the Holders as determined by the Company acting in good faith or otherwise release any Collateral other than in accordance with this
Indenture, the Collateral Documents and the Intercreditor Agreement; or 
 (2) modify the Intercreditor Agreement in any
manner adverse to the Holders in any material respect other than in accordance with the terms of this Indenture, the Collateral Documents and the Intercreditor Agreement. 

It shall not be necessary for the consent of the Holders under this Section to approve the particular form of any proposed amendment,
supplement or waiver, but it shall be sufficient if such consent approves the substance thereof. A consent to any amendment, supplement or waiver under this Indenture by any Holder given in connection with a tender or exchange of such Holder’s
Notes will not be rendered invalid by such tender or exchange. 
 After an amendment or supplement under this Section becomes effective, the
Company shall mail to Holders a notice briefly describing such amendment or supplement. The failure to give such notice to all Holders, or any defect therein, shall not impair or affect the validity of an amendment or supplement under this Section.

 SECTION 9.3. [Reserved]. 

SECTION 9.4. Revocation and Effect of Consents and Waivers. 

(a) Until an amendment, supplement or waiver becomes effective, a consent to it by a Holder of a Note is a continuing consent by the Holder of
a Note and every subsequent Holder of a Note or portion of a Note that evidences the same debt as the consenting Holder’s Note, even if notation of the consent is not made on any Note. However, any such Holder of a Note or subsequent Holder of
a Note may revoke the consent as to its Note if the Trustee receives written notice of revocation before the date the amendment, supplement or waiver becomes effective. An amendment, supplement or waiver becomes effective in accordance with its
terms and thereafter binds every Holder. 
 (b) The Company may, but shall not be obligated to, fix a record date for the purpose of
determining the Holders entitled to give their consent or take any other action described above or required or permitted to be taken pursuant to this Indenture. If a record date is fixed, then notwithstanding anything herein to the contrary, those
Persons, who were Holders at such record date (or their duly designated proxies), and only those Persons, shall be entitled to give such consent or to revoke any consent previously given or to take any such action, whether or not such Persons
continue to be Holders after such record date. No such consent shall be valid or effective for more than 120 days after such record date. 

SECTION 9.5. Notation on or Exchange of Notes. The Trustee may place an appropriate notation about an amendment, supplement or waiver
on any Note thereafter authenticated. The Company in exchange for all Notes may issue and the Trustee shall, upon receipt of an authentication order, authenticate new Notes that reflect the amendment, supplement or waiver. 

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

 SECTION 9.6. Trustee to Sign Amendments. The Trustee will sign any amended or supplemental indenture authorized pursuant to this
Article IX if the amendment or supplement does not adversely affect the rights, duties, liabilities or immunities of the Trustee. The Company may not sign an amended or supplemental indenture until the Board of Directors of the Company
approves it. In executing any amended or supplemental indenture, the 

  
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Trustee will be entitled to receive and (subject to Sections 7.1 and 7.2 hereof) will be fully protected in relying upon, in addition to the documents required by
Section 13.3 hereof, an Officer’s Certificate and an Opinion of Counsel stating that the execution of such amended or supplemental indenture is authorized or permitted by this Indenture and that all conditions precedent are
satisfied with respect to any such supplemental indenture. 
 ARTICLE X 

NOTE GUARANTEE 
 SECTION
10.1. Note Guarantee. 
 (a) Subject to the provisions of this Article X, each Guarantor hereby fully, unconditionally and
irrevocably guarantees, on a senior secured basis, as primary obligor and not merely as surety, jointly and severally with each other Guarantor, to each Holder, to the extent lawful, and the Trustee, the full and punctual payment when due, whether
at maturity, by acceleration, by redemption or otherwise, of the principal of, premium, if any, and interest on the Notes, expenses, indemnification or otherwise and all other Obligations and liabilities of the Company under this Indenture and the
Notes (including without limitation interest accruing after the filing of any petition in bankruptcy, or the commencement of any insolvency, reorganization or like proceeding relating to the Company or any Guarantor, whether or not a claim for
post-filing or post-petition interest is allowed in such proceeding, and the obligations under Section 7.7 hereof), the Notes, the Collateral Documents and the Intercreditor Agreement (all the foregoing being hereinafter collectively
called the “Guaranteed Obligations”). 
 (b) Each Note Guarantee will be secured on a first-priority basis by the
Notes Collateral, subject to Permitted Liens, owned by such Guarantor and on a second-priority basis by the ABL Collateral owned by such Guarantor. Such Guarantors will also agree to pay any and all costs and expenses (including reasonable counsel
fees and expenses) incurred by the Trustee, the Notes Collateral Agent or the Holders in enforcing any rights under the Note Guarantees. The obligations of the Guarantors under the Note Guarantees will rank equally in right of payment with other
Indebtedness of such Guarantors, except to the extent such other Indebtedness is expressly subordinated to the obligations arising under the Note Guarantees, in which case the obligations of the Guarantors under the Note Guarantees will rank senior
in right of payment to such other Indebtedness. 
 (c) Each Guarantor agrees (to the extent permitted by law) that the Guaranteed
Obligations may be extended or renewed, in whole or in part, without notice or further assent from it, and that it will remain bound under this Article X notwithstanding any extension or renewal of any Guaranteed Obligation. 

(d) To the fullest extent permitted by law, each Guarantor waives presentation to, demand of payment from and protest to the Company of any of
the Guaranteed Obligations and also waives notice of protest for nonpayment. To the fullest extent permitted by law, each Guarantor waives notice of any default under the Notes or the Guaranteed Obligations. 

(e) Each Guarantor further agrees that its Note Guarantee herein constitutes a guarantee of payment when due (and not a guarantee of
collection) and waives any right to require that any resort be had by any Holder to any security held for payment of the Guaranteed Obligations. 

(f) Except as set forth in Section 10.2, the obligations of each Guarantor hereunder shall not be subject to any reduction,
limitation, impairment or termination for any reason (other than payment of the Guaranteed Obligations in full), including any claim of waiver, release, surrender, alteration or compromise, and shall not be subject to any defense of setoff,
counterclaim, recoupment or termination whatsoever or by reason of the invalidity, illegality or unenforceability of the Guaranteed Obligations or otherwise. Without limiting the generality of the foregoing, the obligations of each Guarantor herein
shall not be discharged or impaired or otherwise affected by (i) the failure of any Holder to assert any claim or demand or to exercise or enforce any right or remedy against the Company or any other person under this Indenture, the Notes or
any other agreement or otherwise; (ii) any extension or renewal of any thereof; (iii) any rescission, waiver, amendment or modification of any of the terms or provisions of this Indenture, the Notes or any other agreement; (iv) the
release of any security held by any Holder or the Notes Collateral Agent for the Guaranteed Obligations or any of them; (v) any change in the ownership of the Company; (vi) any default, failure or delay, willful or otherwise, in the
performance of the Guaranteed Obligations; or (vii) any other act or thing or omission or delay to do any other act or thing which may or might in any manner or to any extent vary the risk of any Guarantor or would otherwise operate as a
discharge of such Guarantor as a matter of law or equity. 

  
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 (g) Each Guarantor agrees that its Note Guarantee herein shall remain in full force and effect
until payment in full of all the Guaranteed Obligations or such Guarantor is released from its Note Guarantee in compliance with Section 10.2, Article VIII or Article XII. Each Guarantor further agrees that its Note
Guarantee herein shall continue to be effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of principal of, premium, if any, or interest on any of the Guaranteed Obligations is rescinded or must otherwise be
restored by any Holder upon the bankruptcy or reorganization of the Company or otherwise. 
 (h) In furtherance of the foregoing and not in
limitation of any other right which any Holder has at law or in equity against any Guarantor by virtue hereof, upon the failure of the Company to pay any of the Guaranteed Obligations when and as the same shall become due, whether at maturity, by
acceleration, by redemption or otherwise, each Guarantor hereby promises to and will, upon receipt of written notice by the Trustee, forthwith pay, or cause to be paid, in cash, to the Trustee or the Trustee on behalf of the Holders an amount equal
to the sum of (i) the unpaid amount of such Guaranteed Obligations then due and owing and (ii) accrued and unpaid interest on such Guaranteed Obligations then due and owing (but only to the extent not prohibited by law). 

(i) Each Guarantor further agrees that, as between such Guarantor, on the one hand, and the Holders, on the other hand, (x) the maturity
of the Guaranteed Obligations may be accelerated as provided in this Indenture for the purposes of its Note Guarantee herein, notwithstanding any stay, injunction or other prohibition preventing such acceleration in respect of the Guaranteed
Obligations and (y) in the event of any such declaration of acceleration of such Guaranteed Obligations, such Obligations (whether or not due and payable) shall forthwith become due and payable by the Guarantor for the purposes of this Note
Guarantee. 
 (j) Neither the Company nor the Guarantors shall be required to make a notation on the Notes to reflect any Note Guarantee or
any release, termination or discharge thereof and any such notation shall not be a condition to the validity of any Note Guarantee. 
 (k)
Any Guarantor that makes a payment under its Note Guarantee will be entitled upon payment in full of all Guaranteed Obligations under this Indenture to a contribution from each other Guarantor in an amount equal to such other Guarantor’s pro
rata portion of such payment based on the respective net assets of all the Guarantors at the time of such payment as determined in accordance with GAAP. 

SECTION 10.2. Limitation on Liability; Termination; Release and Discharge. 

(a) Any term or provision of this Indenture to the contrary notwithstanding, the obligations of each Guarantor hereunder will be limited to the
maximum amount as will, after giving effect to all other contingent and fixed liabilities of such Guarantor and after giving effect to any collections from or payments made by or on behalf of any other Guarantor in respect of the obligations of such
other Guarantor under its Note Guarantee or pursuant to its contribution obligations under this Indenture, result in the obligations of such Guarantor under its Note Guarantee not constituting a fraudulent conveyance or fraudulent transfer under
federal or state law and not otherwise being void or voidable under any similar laws affecting the rights of creditors generally. 
 (b)
Upon the sale, exchange, transfer or disposition of such Guarantor (by merger, amalgamation, consolidation, or the sale of the Capital Stock of such Guarantor after which the applicable Guarantor is no longer a Restricted Subsidiary or the sale of
all or substantially all of its assets (other than by lease)) and whether or not the Guarantor is the surviving corporation in such transaction, to a Person which is not the Company or a Restricted Subsidiary, such Guarantor will be automatically
and unconditionally released and discharged from all its obligations under this Indenture and its Note Guarantee, the Collateral Documents to which it is a party and the Intercreditor Agreement and such Note Guarantee shall terminate and be of no
further force and effect and the Liens, if any, on the Collateral pledged by such Guarantor pursuant to the Collateral Documents shall be released with respect to the Notes if (x) such sale, exchange, transfer or disposition is made in
compliance with this Indenture, including Section 3.5 and Section 4.1 and (y) all the obligations of such Guarantor under all Indebtedness of the Company or its Restricted Subsidiaries terminate upon consummation of such
transaction. 

  
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 (c) In addition, each Note Guarantee by a Guarantor will be automatically and unconditionally
released and discharged, and shall thereupon terminate and be of no further force and effect, and each Subsidiary and its obligations under the Note Guarantee, this Indenture, the Collateral Documents and the Intercreditor Agreement will be released
and discharged, upon: 
 (1) the proper designation of any Restricted Subsidiary that is a Guarantor as an Unrestricted
Subsidiary; or 
 (2) the Company exercising its legal defeasance option or covenant defeasance option as described in
Section 8.1 or the Company’s Obligations under this Indenture being discharged in accordance with Article XII. 

(d) Such Guarantor must deliver to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that all conditions
precedent provided for in this Indenture relating to such transaction have been complied with. 
 SECTION 10.3. Right of
Contribution. Each Guarantor hereby agrees that, upon payment in full of all Guaranteed Obligations, to the extent that any Guarantor shall have made a payment on the obligations under the Note Guarantees, such Guarantor shall be entitled to
seek and receive contribution from and against any other Guarantor who has not paid its proportionate share (based on the respective net assets of all the Guarantors at the time of such payment as determined in accordance with GAAP) of such payment.
The provisions of this Section 10.3 shall in no respect limit the obligations and liabilities of each Guarantor to the Trustee and the Holders and each Guarantor shall remain liable to the Trustee and the Holders for the full amount
guaranteed by such Guarantor hereunder. 
 SECTION 10.4. No Subrogation. Notwithstanding any payment or payments made by each
Guarantor hereunder, no Guarantor shall be entitled to be subrogated to any of the rights of the Trustee or any Holder against the Company or any other Guarantor or any collateral security or guarantee or right of offset held by the Trustee or any
Holder for the payment of the Guaranteed Obligations, nor shall any Guarantor seek or be entitled to seek any contribution or reimbursement from the Company or any other Guarantor in respect of payments made by such Guarantor hereunder, until all
amounts owing to the Trustee and the Holders by the Company on account of the Guaranteed Obligations are paid in full. If any amount shall be paid to any Guarantor on account of such subrogation rights at any time when all of the Guaranteed
Obligations shall not have been paid in full, such amount shall be held by such Guarantor in trust for the Trustee and the Holders, segregated from other funds of such Guarantor, and shall, forthwith upon receipt by such Guarantor, be turned over to
the Trustee in the exact form received by such Guarantor (duly indorsed by such Guarantor to the Trustee, if required), to be applied against the Guaranteed Obligations. 

SECTION 10.5. Execution and Delivery of a Note Guarantee. 

(a) To further evidence the Note Guarantee set forth in Article X, each of the Guarantors hereby agrees that a notation relating to such
Note Guarantee, as set forth in Exhibit B, shall be endorsed on each Note entitled to the benefits of the Note Guarantee authenticated and delivered by the Trustee and executed by either manual or facsimile signature of an officer of such
Guarantor, or in the case of a Guarantor that is a limited partnership, an officer of the general partner of each Guarantor. Each of the Guarantors hereby agrees that the Note Guarantee set forth in Article X shall remain in full force and
effect notwithstanding any failure to endorse on each Note a notation relating to the Note Guarantee. If any officer of the Guarantor, or in the case of a Guarantor that is a limited partnership, any officer of the general partner of the Guarantor,
whose signature is on this Indenture or a Note no longer holds that office at the time the Trustee authenticates such Note or at any time thereafter, the Note Guarantee of such Note shall be valid nevertheless. The delivery of any Note by the
Trustee, after the authentication thereof hereunder, shall constitute due delivery of the Note Guarantee set forth in this Indenture on behalf of the Guarantors. 

(b) The Trustee hereby accepts the trusts in this Indenture upon the terms and conditions herein set forth. 

  
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 ARTICLE XI 

COLLATERAL AND SECURITY 

SECTION 11.1. The Collateral. 

(a) The due and punctual payment of the principal of, premium, if any, and interest on the Notes and the Note Guarantees an all other Notes
Obligations when and as the same shall be due and payable, whether on an interest payment date, at maturity, by acceleration, repurchase, redemption or otherwise, interest on the overdue principal of and interest (to the extent permitted by law), if
any, on the Notes and the Note Guarantees and performance of all other obligations under this Indenture, including, without limitation, the obligations of the Company set forth in Section 7.7 and Section 8.5 herein, the
Notes, the Note Guarantees and the Collateral Documents shall be secured by Liens and security interests with the priority required by the Intercreditor Agreement, in each case subject to Permitted Liens, as provided in the Collateral Documents that
the Company and the Guarantors, as the case may be, have entered into simultaneously with the execution of this Indenture and will be secured by all Collateral Documents hereafter delivered as required or permitted by this Indenture, the Collateral
Documents and the Intercreditor Agreement. 
 (b) The Company and the Guarantors hereby agree that the Notes Collateral Agent shall hold the
Collateral in trust for the benefit of all of the Notes Secured Parties, in each case pursuant to the terms of the Collateral Documents, the Intercreditor Agreement and any Junior Lien Intercreditor Agreement, and the Notes Collateral Agent is
hereby authorized to execute and deliver the Collateral Documents, the Intercreditor Agreement and any Junior Lien Intercreditor Agreement. 

(c) Each Holder, by its acceptance of any Notes and the Note Guarantees, consents and agrees to the terms of Section 11.9 hereof,
the Collateral Documents, the Intercreditor Agreement (including, without limitation, the provisions providing for foreclosure) and any Junior Lien Intercreditor Agreement as the same may be in effect or may be amended from time to time in
accordance with their terms and authorizes and directs the Notes Collateral Agent to perform its obligations and exercise its rights under the Collateral Documents and the Intercreditor Agreement in accordance therewith. 

(d) The Trustee and each Holder, by accepting the Notes and the Note Guarantees, acknowledges that, as more fully set forth in the Collateral
Documents and the Intercreditor Agreement, the Collateral as now or hereafter constituted shall be held for the benefit of all the Holders and the Trustee, and that the Lien of this Indenture and the Collateral Documents in respect of the Trustee
and the Holders is subject to and qualified and limited in all respects by the Collateral Documents and the Intercreditor Agreement and actions that may be taken thereunder. 

SECTION 11.2. Further Assurances. 

(a) Subject to the limitations set forth in the Collateral Documents, the Company and each of the Guarantors shall execute any and all further
documents, financing statements, agreements and instruments, and take all further action that may be reasonably required under applicable law, or that the Notes Collateral Agent may reasonably (but shall have no duty to) request, in order to grant,
preserve, protect and perfect the validity and priority of the security interests and Liens created or intended to be created by the Collateral Documents in the Collateral, including, without limitation, by making all filings (including filings of
continuation statements and amendments to financing statements that may be necessary to continue the effectiveness of such financing statements). In addition, from time to time, the Company shall and shall cause each of its Restricted Subsidiaries
to reasonably promptly secure the Notes Obligations by pledging or creating, or causing to be pledged or created, perfected security interests with respect to the Collateral. 

(b) The Company shall, and shall cause each of the Restricted Subsidiaries to, (i) at all times maintain, preserve and protect all
Collateral material to the conduct of its business and keep such property in good repair, 

  
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working order and condition (other than wear and tear occurring in the ordinary course of business); (ii) from time to time make, or cause to be made, all necessary repairs, renewals,
additions, improvements and replacements thereto necessary in order to maintain and preserve the Collateral; and (iii) maintain all material insurance coverages thereon. 

SECTION 11.3. After-Acquired Property. Upon the acquisition by the Company or any Guarantor after the Issue Date of any after-acquired
property, including, but not limited to, any after-acquired real property or any equipment or fixtures that constitute accretions, additions or technological upgrades to the equipment or fixtures or any working capital assets that, in any such case,
are required to be subject to the Lien of the Collateral Documents, the Company or such Guarantor shall execute and deliver, (i) with regard to any real property (other than Excluded Assets) with a fair market value of more than $5.0 million,
the items described in Section 11.5 below within 90 days of the date of acquisition, and (ii) to the extent required by the Collateral Documents and the Intercreditor Agreement, such Mortgages and any information, documentation or
other certificates (including but not limited to financing statements, certificates and Opinions of Counsel) to the Notes Collateral Agent as may be reasonably necessary or appropriate to vest in the Notes Collateral Agent a perfected security
interest, subject only to Permitted Liens, and confirm the validity and priority of the Notes Collateral Agent’s perfected security interest in and lien on such after-acquired property (other than Excluded Assets) and to have such
after-acquired property added to the Collateral, and thereupon all provisions of this Indenture, the Notes, the Collateral Documents and the Intercreditor Agreement relating to the Collateral shall be deemed to relate to such after-acquired property
to the same extent and with the same force and effect. Additionally, if the Company or any Guarantor creates any additional security interest upon any property or asset in the nature of assets constituting ABL Collateral to secure any ABL
Obligations after the Issue Date, it must concurrently grant a security interest (subject to Permitted Liens, including, to the extent applicable, the first-priority lien that secures the ABL Obligations) upon such property as security for the Notes
Obligations and any Pari Passu Lien Indebtedness with the priority required by the Intercreditor Agreement. If granting a security interest in such property requires the consent of a third party, the Company and the applicable Guarantor may not be
required to obtain such consent with respect to the security interest for the benefit of the Notes Collateral Agent on behalf of the Notes Secured Parties under the Collateral Documents to the extent such consent is not required to be obtained under
the terms of the documents governing such ABL Obligations. If any required third party consent is not obtained, the Company or applicable Guarantor will not be required to provide such security interest. 

SECTION 11.4. Impairment of Security Interest by Company or Its Restricted Subsidiaries. Neither the Company nor any of its Restricted
Subsidiaries is permitted to take, or knowingly or negligently omit to take, any action which act or omission would or could reasonably be expected to have the result of materially impairing the security interest in the Liens in favor of the Notes
Collateral Agent for the benefit of the Trustee and the Holders with respect to the Collateral. Neither the Company nor any of its Restricted Subsidiaries shall grant to any Person, or permit any Person to retain (other than the Notes Collateral
Agent or the collateral agent under the New ABL Revolving Credit Facility), any interest whatsoever in the Collateral, other than Permitted Liens. Neither the Company nor any of its Restricted Subsidiaries will enter into any agreement that requires
the proceeds received from any sale of Collateral to be applied to repay, redeem, defease or otherwise acquire or retire any Indebtedness of any Person, other than as permitted by this Indenture, the Notes, the Note Guarantees, the Collateral
Documents and the Intercreditor Agreement. The Company shall, and shall cause each Guarantor to, at its sole cost and expense, execute and deliver all such agreements and instruments as necessary, or as the Trustee or the Notes Collateral Agent
reasonably requests, to more fully or accurately describe the assets and property intended to be Collateral or the obligations intended to be secured by the Collateral Documents. 

SECTION 11.5. Real Estate Mortgages and Filings. The Company and the Guarantors will use commercially reasonable efforts in order to
deliver the following documents (which shall be reasonably satisfactory in form to the Notes Collateral Agent and its counsel with respect to each Closing Date Mortgaged Property) to the Notes Collateral Agent within ninety (90) days after the
Issue Date. For the avoidance of doubt, the Notes Collateral Agent shall not be responsible for the failure of any Person to deliver the documents below, for monitoring such delivery or for the content or correctness of any document delivered to it:

 (a) Insurance. Policies or certificates of insurance (including evidence of flood insurance, if applicable)
covering the Closing Date Mortgaged Property and assets of the Grantors thereon, which policies or certificates shall be in form reasonably acceptable to the Notes Collateral Agent and reflect the 

  
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Notes Collateral Agent for its benefit and the benefit of the Notes Secured Parties, as additional insured and loss payee and mortgagee and shall otherwise bear endorsements of such type and in
such amounts as are customarily carried under similar circumstances for properties engaged in the same or similar businesses as the applicable Closing Date Mortgaged Properties and are otherwise acceptable to the Notes Collateral Agent; 

(b) Mortgages. Fully executed counterparts of the mortgages, deeds of trust or deeds to secure debt evidencing the liens
on the Closing Date Mortgaged Properties of the Grantors that will secure the Notes reasonably satisfactory to the Notes Collateral Agent and, in each case, with such schedules and including such provisions as shall be necessary to conform such
documents to applicable local or foreign law or as shall be customary under applicable local or foreign law (the “Mortgages”), which Mortgages shall cover each Closing Date Mortgaged Property, together with evidence that
counterparts of all the Mortgages have been delivered to the title insurance company for recording in all places to the extent necessary or, in the reasonable opinion of the Initial Purchasers, desirable to effectively create a valid and enforceable
first priority mortgage lien on each Closing Date Mortgaged Property in favor of the Notes Collateral Agent for its benefit and the benefit of the Notes Secured Parties, securing the Obligations related to the Notes subject to the Permitted
Encumbrances (as defined in the Mortgages); provided, however, that if a mortgage tax will be owed on the entire amount of the indebtedness evidenced by the Notes, then the amount secured by the Mortgage for each such Closing Date
Mortgaged Property shall be limited to 100% of the fair market value of such property at the time such Mortgage is entered into; 

(c) Counsel Opinions. Opinions, addressed to the Notes Collateral Agent, of local counsel in each jurisdiction where
Closing Date Mortgaged Property is located with respect to the enforceability and perfection of the Mortgages and other matters customarily included in such opinions and opinions of counsel for the Company regarding due authorization, execution and
delivery of the Mortgages; 
 (d) Title Insurance. With respect to each Mortgage encumbering any Closing Date
Mortgaged Property, a policy of title insurance (or commitment to issue such a policy having the effect of a policy of title insurance) insuring (or committing to insure) the lien of such Mortgage as a valid and enforceable first priority mortgage
or deed of trust lien on the Closing Date Mortgaged Property described therein, in an amount not less than 100% of the fair market value of such Closing Date Mortgaged Property (such policies collectively, the “Mortgage
Policies”) issued by such title insurance company, which insures the Notes Collateral Agent that the Mortgages on such Closing Date Mortgaged Properties are valid and enforceable mortgage liens on the respective Closing Date Mortgaged
Properties, free and clear of all defects and encumbrances except Permitted Encumbrances and such Mortgage Policies shall otherwise be in form reasonably satisfactory to the Notes Collateral Agent and shall include such title endorsements as are
customary and appropriate, to the extent available at commercially reasonable rates (excluding endorsements or coverage related to creditors’ rights); 

(e) Survey. The appropriate Grantors shall deliver to the title insurance company any and all surveys, customary title
and survey affidavits or zoning report as may be reasonable to cause the title insurance company to issue Mortgage Policies and to remove the standard survey exception or modify the standard survey exception in the manner permitted in the applicable
jurisdiction; provided, however, that notwithstanding anything herein to the contrary, no surveys, or survey coverage, including, without limitation, deletion of the survey exception and survey related endorsements, are required with
respect to the vacant land adjoining 415 W. 6th Avenue, South Hutchinson, Kansas; 
 (f) Fixture Filings. Proper
fixture filings under the Uniform Commercial Code on Form UCC-1 for filing under the Uniform Commercial Code in the appropriate jurisdictions in which the Mortgaged Properties are located, desirable to perfect the security interests in fixtures
purported to be created by the Mortgages in favor of the Notes Collateral Agent for its benefit and the benefit of the Notes Secured Parties (unless with respect to a Mortgaged Property, the applicable Mortgage is sufficient to constitute a fixture
filing under applicable law); 

  
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 (g) Consents. With respect to the Mortgaged Property, such consents,
approvals, amendments, supplements, estoppels, tenant subordination agreements or other instruments as necessary to consummate the transactions and as are necessary to issue the Mortgage Policies; 

(h) Mortgaged Property Indemnification. With respect to each Mortgaged Property, such affidavits, certificates,
instruments of indemnification and other items as shall be reasonably required to induce the title insurance company to issue the Mortgage Policies and endorsements contemplated above; and 

(i) Collateral Fees and Expenses. Evidence of payment by the Company of all Mortgage Policy premiums, search and
examination charges, mortgage recording taxes, fees, charges, costs and expenses required for the recording of the Mortgages, fixture filings, if applicable, and issuance of the Mortgage Policies referred to above. 

SECTION 11.6. Release of Liens on the Collateral. 

(a) The Liens on the Collateral will be released with respect to the Notes: 

(1) in whole, upon payment in full of the principal of, together with accrued and unpaid interest and premium, if any, on the
Notes and all other Notes Obligations under this Indenture, the Note Guarantees and the Collateral Documents that are due and payable at or prior to the time of such principal, together with accrued and unpaid interest and premiums, if any, is paid;

 (2) in whole, upon satisfaction and discharge of this Indenture as set forth in Article XII hereof; 

(3) in whole, upon a legal defeasance or covenant defeasance as set forth in Section 8.2 hereof; 

(4) in part, as to any property constituting Collateral (A) that is sold or otherwise disposed of by the Company or any of
its Restricted Subsidiaries (other than to the Company or a Guarantor) in a transaction permitted by Section 3.5 and by the Collateral Documents, to the extent of the interest sold or disposed of, and to the extent otherwise not
prohibited by this Indenture and the Collateral Documents, (B) with respect to ABL Collateral pursuant to the terms of the Intercreditor Agreement or (C) that at any time becomes an Excluded Asset pursuant to a transaction permitted by this
Indenture; 
 (5) that is owned by a Guarantor that is released from its Note Guarantee in accordance with this Indenture;
and 
 (6) with the consent of Holders of 75% in aggregate principal amount of the Notes then outstanding in accordance with
Section 9.2 hereof; 
 provided that, in the case of any release in whole pursuant to clauses (1), (2), (3), (5) and (6) above,
all amounts constituting Notes Obligations have been paid in full. 
 (b) To the extent applicable, the Company and each Guarantor will
furnish to the Trustee, prior to each proposed release of Collateral pursuant to the Collateral Documents and this Indenture: 

(1) an Officer’s Certificate requesting such release, including a statement to the effect that all conditions precedent
provided for in this Indenture and the Collateral Documents to such release have been complied with including the delivery to the Trustee of all documents required under this Section 11.6(b); 

(2) a form of such release (which release shall be in form reasonably satisfactory to the Trustee and shall provide that the
requested release is without recourse or warranty to the Trustee); 

  
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 (3) all documents required by this Indenture, the Collateral Documents and the
Intercreditor Agreement; and 
 (4) an Opinion of Counsel to the effect that such accompanying documents constitute all
documents required by this Indenture, the Collateral Documents and the Intercreditor Agreement and such release is authorized or permitted by the Collateral Documents and this Indenture. 

Upon compliance by the Company or the Guarantors, as the case may be, with the conditions precedent set forth above, and upon delivery by the
Company or such Guarantor to the Trustee of an Opinion of Counsel to the effect that such conditions precedent have been complied with, the Trustee or the Notes Collateral Agent shall promptly cause to be released and reconveyed to the Company, or
the Guarantors, as the case may be, the released Collateral. 
 (c) The release of any Collateral in accordance with the terms of this
Indenture and the Collateral Documents shall not be deemed to impair the security under this Indenture in contravention of the provisions hereof or affect the Lien of this Indenture or the Collateral Documents if and to the extent the Collateral is
released pursuant to this Indenture, the Collateral Documents or the Intercreditor Agreement or upon the termination of this Indenture. Any person may rely on this Section 11.6(c) in delivering a certificate requesting release of any
Collateral, so long as all other provisions of this Indenture with respect to such release have been complied with. 
 SECTION 11.7.
Authorization of Actions to Be Taken by the Trustee or the Notes Collateral Agent Under the Collateral Documents. 
 (a) Subject to
the provisions of the Collateral Documents and the Intercreditor Agreement, each of the Trustee or the Notes Collateral Agent may (but shall not be obligated to), in its sole discretion and without the consent of the Holders, on behalf of the
Holders, take all actions it deems necessary or appropriate in order to (a) create or enforce any of its rights or any of the rights of the Holders under the Collateral Documents and the Intercreditor Agreement and (b) collect and receive
any and all amounts payable in respect of the Collateral in respect of the obligations of the Company and the Subsidiaries hereunder and thereunder. Subject to the provisions of the Collateral Documents and the Intercreditor Agreement, the Trustee
or the Notes Collateral Agent shall have the power to institute and to maintain such suits and proceedings as it may deem expedient to prevent any impairment of the Collateral by any acts that may be unlawful or in violation of the Collateral
Documents, the Intercreditor Agreement or this Indenture, and such suits and proceedings as the Trustee or the Notes Collateral Agent may deem expedient to preserve or protect its interest and the interests of the Holders in the Collateral
(including power to institute and maintain suits or proceedings to restrain the enforcement of or compliance with any legislative or other governmental enactment, rule or order that may be unconstitutional or otherwise invalid if the enforcement of,
or compliance with, such enactment, rule or order would impair the security interest hereunder or be prejudicial to the interests of the Holders or the Trustee). 

(b) The Trustee or the Notes Collateral Agent shall not be responsible for the existence, genuineness or value of any of the Collateral or for
the validity, perfection, priority or enforceability of the Liens in any of the Collateral, whether impaired by operation of law or by reason of any action or omission to act on its part hereunder, except (with respect to the Trustee) to the extent
such action or omission constitutes negligence, bad faith or willful misconduct on the part of the Trustee or the Notes Collateral Agent, for the validity or sufficiency of the Collateral or any agreement or assignment contained therein, for the
validity of the title of the Company to the Collateral, for insuring the Collateral or for the payment of taxes, charges, assessments or Liens upon the Collateral or otherwise as to the maintenance of the Collateral. The Trustee or the Notes
Collateral Agent shall have no responsibility for recording, filing, re-recording or refiling any financing statement, continuation statement, document, instrument or other notice in any public office at any time or times or to otherwise take any
action to perfect or maintain the perfection of any security interest granted to it under the Collateral Documents or otherwise. 

  
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 (c) Where any provision of this Indenture requires that additional property or assets be added to
the Collateral, the Company and the relevant Guarantor shall deliver to the Trustee or the Notes Collateral Agent the following: 

(1) a written notice from the Company of such Collateral; 

(2) the form of instrument adding such Collateral, which, based on the type and location of the property subject thereto, shall
be in substantially the form of the applicable Collateral Documents entered into on the Issue Date, with such changes thereto as the Company shall consider appropriate, or in such other form as the Company shall deem proper; provided that any
such changes or such form are administratively satisfactory to the Trustee or the Notes Collateral Agent; 
 (3) an
Officer’s Certificate to the effect that the Collateral being added is in the form, consists of the assets and is in the amount or otherwise has the fair market value required by this Indenture; 

(4) an Officer’s Certificate and, in the case of Collateral being added with respect to a new Note Guarantee, an Opinion
of Counsel to the effect that all conditions precedent provided for in this Indenture to the addition of such Collateral have been complied with, which Opinion of Counsel (if any) shall provide customary opinions as to the creation and perfection of
the Notes Collateral Agent’s Lien on such Collateral and as to the due authorization, execution, delivery, validity and enforceability of the Collateral Document being entered into; and 

(5) such financing statements, if any, as the Company shall deem necessary to perfect the Notes Collateral Agent’s
security interest in such Collateral. 
 (d) The Trustee or the Notes Collateral Agent, in giving any consent or approval under the
Collateral Documents or the Intercreditor Agreement, shall receive, as a condition to such consent or approval, an Officer’s Certificate and an Opinion of Counsel to the effect that the action or omission for which consent or approval is to be
given does not impair the security of the Holders in contravention of the provisions of this Indenture, the Collateral Documents and the Intercreditor Agreement, and the Trustee or the Notes Collateral Agent shall be fully protected in giving such
consent or approval on the basis of such Officer’s Certificate and Opinion of Counsel. 
 SECTION 11.8. [Reserved]. 

SECTION 11.9. Appointment and Authorization of Wells Fargo Bank, National Association, as Notes Collateral Agent. 

(a) Wells Fargo Bank, National Association, is hereby designated and appointed as the Notes Collateral Agent of the Holders under the
Collateral Documents, and is authorized as the Notes Collateral Agent for such Holders to execute and enter into each of the Collateral Documents and all other instruments relating to the Collateral Documents and (i) to take action and exercise
such powers as are expressly required or permitted hereunder and under the Collateral Documents and all instruments relating hereto and thereto, including, without limitation, entering into any amendments, supplements, modifications, joinders or
intercreditor agreements relating thereto, and (ii) to exercise such powers and perform such duties as are, in each case, expressly delegated to the Notes Collateral Agent by the terms hereof and thereof, together with such other powers as are
reasonably incidental hereto and thereto. 
 (b) Notwithstanding any provision to the contrary elsewhere in this Indenture or the Collateral
Documents, the Notes Collateral Agent shall not have any duties or responsibilities except those expressly set forth herein or therein or any fiduciary relationship with any Holder, and no implied covenants, functions, responsibilities, duties,
obligations or liabilities shall be read into this Indenture or any Collateral Document or otherwise exist against the Notes Collateral Agent. 

(c) The Notes Collateral Agent shall incur no liability to anyone in acting upon any signature, instrument, statement, notice, resolution,
request, direction, consent, order, certificate, report, opinion, bond or other document or paper reasonably believed by it to be genuine and reasonably believed by it to be signed by the proper party or parties. The Notes Collateral Agent may
exercise any of its rights or powers hereunder or perform any of its duties hereunder either directly or by or through agents or attorneys, and the Notes Collateral Agent shall not be responsible for any misconduct or negligence on the part of any
agent or attorney appointed hereunder with due care 

  
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 by it. Anything in this Indenture or Collateral Documents notwithstanding, in no event shall the Notes Collateral
Agent be liable for special, indirect, punitive or consequential damage of any kind whatsoever (including but not limited to lost profits), even if the Notes Collateral Agent has been advised of such loss or damage and regardless of the form of
action. The Company and Grantors shall, jointly and severally, indemnify and hold harmless the Notes Collateral Agent, its directors, officers, agents and employees with respect to any and all expenses, losses, damages, liabilities, demands,
charges, causes of action, judgments and claims of any nature (including the reasonable fees and expenses of counsel and other experts) in respect of or arising from any acts or omissions performed or omitted by the Notes Collateral Agent, its
directors, officers, agents or employees hereunder or under the Collateral Documents or under any other agreement executed in connection therewith without willful misconduct, gross negligence or reckless disregard of its duties hereunder or under
the Collateral Documents or under any other agreement executed in connection therewith. 
 ARTICLE XII 

SATISFACTION AND DISCHARGE 

SECTION 12.1. Satisfaction and Discharge. This Indenture will be discharged and will cease to be of further effect as to all Notes
issued hereunder when: 
 (a) either: 

(1) all Notes that have been authenticated, except lost, stolen or destroyed Notes that have been replaced or paid and Notes
for whose payment money has been deposited in trust and thereafter repaid to the Company, have been delivered to the Trustee for cancellation; or 

(2) all Notes that have not been delivered to the Trustee for cancellation have become due and payable by reason of the mailing
of a notice of redemption or otherwise or will become due and payable within one year and the Company or any Guarantor has irrevocably deposited or caused to be deposited with the Trustee as trust funds in trust solely for the benefit of the Holders
cash in U.S. dollars, non-callable Government Securities, or a combination of cash in U.S. dollars and non-callable Government Securities, in such amounts as will be sufficient, without consideration of any reinvestment of interest, to pay and
discharge the entire Indebtedness on the Notes not delivered to the Trustee for cancellation for principal, premium and accrued interest to the date of maturity or redemption; 

(b) no Default or Event of Default has occurred and is continuing on the date of such deposit (other than a Default or Event of
Default resulting from the borrowing of funds to be applied to such deposit) and the deposit will not result in a breach or violation of, or constitute a default under, any other instrument to which the Company or any Guarantor is a party or by
which the Company or any Guarantor is bound; 
 (c) the Company or any Guarantor has paid or caused to be paid all sums
payable by it under this Indenture; and 
 (d) the Company has delivered irrevocable instructions to the Trustee under this
Indenture to apply the deposited money toward the payment of the Notes at maturity or on the redemption date, as the case may be. 
 In
addition, the Company must deliver an Officer’s Certificate and an Opinion of Counsel to the Trustee stating that all conditions precedent to satisfaction and discharge have been satisfied. 

Notwithstanding the satisfaction and discharge of this Indenture, if money has been deposited with the Trustee pursuant to clause (a)(2) of
this Section 12.1, the provisions of Sections 12.2 and 8.6 hereof shall survive. In addition, nothing in this Section 12.1 will be deemed to discharge those provisions of Section 7.7 hereof that, by
their terms, survive the satisfaction and discharge of this Indenture. 

  
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 SECTION 12.2. Application of Trust Money. Subject to the provisions of
Section 8.6 hereof, all money deposited with the Trustee pursuant to Section 12.1 hereof shall be held in trust and applied by it, in accordance with the provisions of the Notes and this Indenture, to the payment, either
directly or through any Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may determine, to the Persons entitled thereto, of the principal (and premium, if any) and interest for whose payment such money has been
deposited with the Trustee; but such money need not be segregated from other funds except to the extent required by law. 
 If the Trustee
or Paying Agent is unable to apply any money or Government Securities in accordance with Section 12.1 hereof by reason of any legal proceeding or by reason of any order or judgment of any court or governmental authority enjoining,
restraining or otherwise prohibiting such application, the Company’s and any Guarantor’s obligations under this Indenture and the Notes shall be revived and reinstated as though no deposit had occurred pursuant to Section 12.1
hereof; provided that if the Company has made any payment of principal of, premium, if any, or interest on, any Notes because of the reinstatement of its obligations, the Company shall be subrogated to the rights of the Holders of such Notes
to receive such payment from the money or Government Securities held by the Trustee or Paying Agent. 
 ARTICLE XIII 

MISCELLANEOUS 
 SECTION
13.1. Notices. Any notice or communication shall be in writing and delivered in person, sent by facsimile or electronic transmission in the form of a “pdf” on letterhead (if applicable) and signed by an authorized signer delivered
by commercial courier service or mailed by first-class mail, postage prepaid, addressed as follows: 
 if to the Company or to any
Guarantor: 
 Allied Specialty Vehicles, Inc. 

4776 New Broad Street 
 Orlando,
Florida 32814 
 Attention: Chief Financial Officer 

with a copy to: 

Ropes & Gray LLP 
 Attn:
Daniel Evans 
 1211 Avenue of the Americas 

New York, New York 10036 
 Fax:
(617) 235-0028 
 if to the Trustee or Notes Collateral Agent, at its corporate trust office, which 

corporate trust office for purposes of this Indenture is at 

the date hereof located at: 

Wells Fargo Bank, National Association 

Corporate Trust Services 
 150
East 42nd Street, 40th Floor 
 New York, New York 10017 

Attention: Yana Kislenko 

Telecopy: (917) 260-1593 

The Company or the Trustee or the Notes Collateral Agent by written notice to the other may designate additional or different addresses for
subsequent notices or communications. 
 Any notice or communication to the Company or the Guarantors shall be deemed to have been given or
made as of the date so delivered if personally delivered; when receipt is acknowledged, if transmitted by facsimile or 

  
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electronic transmission (including “pdf” on letterhead (if applicable) and signed by an authorized signer); the next Business Day after timely delivery to the courier, if sent by
overnight air courier guaranteeing next day delivery; and five calendar days after mailing if sent by registered or certified mail, postage prepaid (except that a notice of change of address shall not be deemed to have been given until actually
received by the addressee). Any notice or communication to the Trustee shall be deemed delivered upon receipt. 
 Any notice or
communication mailed to a Holder shall be mailed to the Holder at the Holder’s address as it appears in the Notes Register and shall be sufficiently given if so mailed within the time prescribed. 

Failure to mail a notice or communication to a Holder or any defect in it shall not affect its sufficiency with respect to other Holders. If a
notice or communication is mailed in the manner provided above, it is duly given, whether or not the addressee receives it, except that notices to the Trustee shall be effective only upon receipt. 

In case by reason of the suspension of regular mail service or by reason of any other cause it shall be impracticable to give such notice by
mail, then such notification as shall be made with the approval of the Trustee shall constitute a sufficient notification for every purpose hereunder. 

SECTION 13.2. Communication by Holders with Other Holders. Holders may communicate pursuant to TIA § 312(b) with other Holders
with respect to their rights under this Indenture or the Notes. The Company, the Trustee, the Notes Collateral Agent, the Registrar and anyone else shall have the protection of TIA § 312(c). 

SECTION 13.3. Certificate and Opinion as to Conditions Precedent. Upon any request or application by the Company to the Trustee to take
or refrain from taking any action under this Indenture, the Collateral Documents or the Intercreditor Agreement, the Company shall furnish to the Trustee: 

(1) an Officer’s Certificate in form reasonably satisfactory to the Trustee stating that, in the opinion of the signers,
all conditions precedent, if any, provided for in this Indenture, the applicable Collateral Documents and the Intercreditor Agreement relating to the proposed action have been complied with; and 

(2) except in connection with the issuance of Initial Notes on the date hereof, an Opinion of Counsel in form reasonably
satisfactory to the Trustee stating that, in the opinion of such counsel, all such conditions precedent have been complied with. 
 SECTION
13.4. Statements Required in Certificate or Opinion. Each certificate or opinion with respect to compliance with a covenant or condition provided for in this Indenture shall include: 

(1) a statement that the individual making such certificate or opinion has read such covenant or condition; 

(2) a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions
contained in such certificate or opinion are based; 
 (3) a statement that, in the opinion of such individual, he or she has
made such examination or investigation as is necessary to enable him or her to express an informed opinion as to whether or not such covenant or condition has been complied with; and 

(4) a statement as to whether or not, in the opinion of such individual, such covenant or condition has been complied with.

 In giving such Opinion of Counsel, counsel may rely as to factual matters on an Officer’s Certificate or on certificates of public
officials. 
 SECTION 13.5. USA PATRIOT ACT. The parties hereto acknowledge that in order to help the government fight the funding of
terrorism and money laundering activities, pursuant to federal regulations that became 

  
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effective on October 1, 2003, Section 326 of the USA PATRIOT Act requires all financial institutions to obtain, verify and record information that identifies each person establishing a
relationship or opening an account with Wells Fargo Bank, National Association. The parties hereto agree that they will provide the Trustee with name, address, tax identification number, if applicable, and other information that will allow the
Trustee to identify the individual or entity who is establishing the relationship, and will further provide the Trustee with formation documents such as articles of incorporation or other identifying documents. 

SECTION 13.6. Rules by Trustee, Paying Agent and Registrar. The Trustee may make reasonable rules for action by, or at meetings of,
Holders. The Registrar and the Paying Agent may make reasonable rules for their functions. 
 SECTION 13.7. Business Days. If a
payment date is not a Business Day, payment shall be made on the next succeeding day that is a Business Day, and no interest shall accrue for the intervening period. If a regular record date is not a Business Day, the record date shall not be
affected. 
 SECTION 13.8. GOVERNING LAW. THIS INDENTURE, THE NOTES, THE NOTE GUARANTEES, THE INTERCREDITOR AGREEMENT AND THE
COLLATERAL DOCUMENTS (OTHER THAN THE MORTGAGES) SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. EACH OF THE PARTIES HERETO AGREES TO SUBMIT TO THE EXCLUSIVE JURISDICTION OF THE STATE COURTS OF, AND THE
FEDERAL COURTS LOCATED IN, THE STATE OF NEW YORK, IN THE BOROUGH OF MANHATTAN, IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE NOTES, THE NOTE GUARANTEES, THE INTERCREDITOR AGREEMENT AND THE COLLATERAL DOCUMENTS (OTHER
THAN THE MORTGAGES). EACH PARTY HERETO IRREVOCABLY WAIVES ANY OBJECTION, INCLUDING ANY OBJECTION TO THE LAYING OF VENUE OR BASED ON THE GROUNDS OF FORUM NON CONVENIENS, WHICH IT MAY NOW OR HEREAFTER HAVE TO THE BRINGING OF ANY ACTION OR PROCEEDING
IN SUCH JURISDICTION IN RESPECT OF THIS INDENTURE, THE NOTES OR ANY OTHER DOCUMENT RELATED HERETO. 
 NOTHING IN THIS INDENTURE SHALL AFFECT
ANY RIGHT THAT THE NOTES COLLATERAL AGENT MAY OTHERWISE HAVE TO BRING ANY ACTION OR PROCEEDING RELATING TO THIS INDENTURE OR THE NOTES AGAINST THE COMPANY, THE GUARANTORS OR THEIR RESPECTIVE PROPERTIES IN THE COURTS OF ANY JURISDICTION (I) FOR
PURPOSES OF ENFORCING A JUDGMENT, (II) IN CONNECTION WITH EXERCISING REMEDIES AGAINST THE COLLATERAL IN A JURISDICTION IN WHICH SUCH COLLATERAL IS LOCATED, (III) IN CONNECTION WITH ANY PENDING BANKRUPTCY, INSOLVENCY OR SIMILAR PROCEEDING IN SUCH
JURISDICTION OR (IV) TO THE EXTENT THE COURTS REFERRED TO IN THE PREVIOUS PARAGRAPH DO NOT HAVE JURISDICTION OVER SUCH LEGAL ACTION OR PROCEEDING OR THE PARTIES OR PROPERTY SUBJECT HERETO. 

SECTION 13.9. No Recourse Against Others. No director, officer, employee, incorporator, member, partner or stockholder of the Company
or any Guarantor, as such, will have any liability for any obligations of the Company or the Guarantors under the Notes, this Indenture and the Note Guarantees or for any claim based on, in respect of, or by reason of, such obligations or their
creation. Each Holder by accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Notes. 

SECTION 13.10. Successors. All agreements of the Company and each Guarantor in this Indenture and the Notes shall bind their respective
successors. All agreements of the Trustee in this Indenture shall bind its successors. 
 SECTION 13.11. Multiple Originals. The
parties may sign any number of copies of this Indenture. Each signed copy shall be an original, but all of them together represent the same agreement. One signed copy is enough to prove this Indenture. The exchange of copies of this Indenture and of
signature pages by facsimile or PDF transmission shall constitute effective execution and delivery of this Indenture as to the parties hereto and may be used in lieu of the original Indenture and signature pages for all purposes. 

  
 -100- 

 SECTION 13.12. Table of Contents; Headings. The table of contents, cross-reference sheet
and headings of the Articles and Sections of this Indenture have been inserted for convenience of reference only, are not intended to be considered a part hereof and shall not modify or restrict any of the terms or provisions hereof. 

SECTION 13.13. WAIVERS OF JURY TRIAL. THE COMPANY, THE GUARANTORS, THE NOTES COLLATERAL AGENT AND THE TRUSTEE HEREBY IRREVOCABLY AND
UNCONDITIONALLY WAIVE TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS INDENTURE, THE NOTES, THE NOTE GUARANTEES, ANY COLLATERAL DOCUMENT OR THE INTERCREDITOR AGREEMENT AND FOR ANY COUNTERCLAIM THEREIN. 

SECTION 13.14. Intercreditor Agreement Controls. Notwithstanding any contrary provision in this Indenture, this Indenture is subject to
the provisions of the Intercreditor Agreement. The Company, the Guarantors, the Notes Collateral Agent and the Trustee acknowledge and agree to be bound by the provisions of the Intercreditor Agreement. 

SECTION 13.15. Force Majeure. In no event shall the Trustee be responsible or liable for any failure or delay in the performance of its
obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural
catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services, it being understood that the Trustee shall use reasonable best efforts that are consistent with accepted
practices in the banking industry to resume performance as soon as practicable under the circumstances. 
 SECTION 13.16.
Severability. In case any provision in this Indenture or in the Notes or the Note Guarantees is invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions will not in any way be affected or
impaired thereby. 

  
 -101- 

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

					
	ALLIED SPECIALTY VEHICLES, INC.
		
	By:	 	 /s/ Hans Heinsen

		 	Name:	 	Hans Heinsen
		 	Title:	 	Treasurer, Vice President Finance & Chief
		 		 	Financial Officer
	
	 AIP/FW FUNDING, INC.
 CAPACITY OF
TEXAS, INC.
 COLLINS BUS CORPORATION
 COLLINS I HOLDING
CORP.
 COLLINS INDUSTRIES , INC.

	 E-ONE, INC.
 FLEETWOOD RV,
INC.

	 GOLDSHIELD FIBERGLASS, INC.
 HALCORE
GROUP, INC.

	 HORTON ENTERPRISES, INC.
 MOBILE
PRODUCTS, INC.

	 WHEELED COACH INDUSTRIES, INC.

CHAMPION BUS, INC.

	 ELDORADO NATIONAL (CALIFORNIA), INC.

ELDORADO NATIONAL (KANSAS), INC.
 GENERAL COACH AMERICA,
INC.

	GOSHEN COACH INC.
		
	By:	 	 /s/ Hans Heinsen

		 	Name:	 	Hans Heinsen
		 	Title:	 	Treasurer

  
 [Signature to Indenture]

 
					
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee
		
	By:	 	 /s/ Yana Kislenko

		 	Name:	 	Yana Kislenko
		 	Title:	 	Vice President
	
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as Notes Collateral
		
	By:	 	 /s/ Yana Kislenko

		 	Name:	 	Yana Kislenko
		 	Title:	 	Vice President

  
 [Signature to Indenture]

 EXHIBIT A 

[FACE OF NOTE]1 

 
  

	1 	Insert any applicable legends from Article II. 

  
 Ex. A-1 

			
	No. [     ]	  	Principal Amount $[             ]
		  	CUSIP NO. [            ]

 ALLIED SPECIALTY VEHICLES, INC. 

8.500% Senior Secured Note due 2019 

Allied Specialty Vehicles, Inc., a Delaware corporation, promises to pay to Cede & Co., or its registered assigns, the principal sum
of [         ] Dollars ($[         ])[, as revised by the Schedule of Increases and Decreases in Global Note attached hereto,]2 on November 1, 2019. 
 Interest Payment Dates: May 1 and November 1 

Record Dates: April 15 and October 15 

Additional provisions of this Note are set forth on the other side of this Note. 

 

	2 	Include only if the Note is issued in global form. 

  
 Ex. A-2 

 
			
	ALLIED SPECIALTY VEHICLES, INC.
		
	By:	 	  

		 	Name:
		 	Title:

  
 Ex. A-3 

			
	 TRUSTEE’S CERTIFICATE OF AUTHENTICATION

	
	 WELLS FARGO BANK, NATIONAL ASSOCIATION,

as Trustee, certifies that this is one of
 the Notes referred to
in the Indenture.

		
	By:	 	  

		 	Authorized Signatory

 Date:             , 2013 

  
 Ex. A-4 

 [REVERSE SIDE OF NOTE] 

ALLIED SPECIALTY VEHICLES, INC. 

8.500% Senior Secured Note due 2019 
  

	1.	Interest 

 Allied Specialty Vehicles, Inc., a Delaware corporation (such corporation, and
its successors and assigns under the Indenture hereinafter referred to, being herein called the “Company”), promises to pay interest on the principal amount of this Note at the rate per annum shown above. 

The Company will pay interest semiannually on May 1 and November 1 of each year commencing May 1, 2014. [Interest on the
Notes will accrue from the most recent date to which interest has been paid on the Notes or, if no interest has been paid, from October 21, 2013.]3 [Interest on this Note will accrue (or will
be deemed to have accrued) from the most recent date to which interest on this Note or any of its predecessor Notes has been paid or duly provided for or, if no such interest has been paid, from
            ,         4.]5
The Company shall pay interest on overdue principal, and on overdue premium, if any (plus interest on such interest to the extent lawful), at the rate borne by the Notes to the extent lawful. Interest will be computed on the basis of a 360-day year
of twelve 30-day months. 
  

	2.	Method of Payment 

 By no later than 10:00 a.m. (New York City time) on the date on which
any principal of, premium, if any, or interest on any Note is due and payable, the Company shall deposit with the Trustee or the Paying Agent money sufficient to pay such principal, premium, if any, and/or interest when due. The Company will pay
interest (except Defaulted Interest) to the Persons who are registered Holders at the close of business on the April 15 or October 15 next preceding the interest payment date even if Notes are cancelled, repurchased or redeemed after the
record date and on or before the interest payment date. Holders must surrender Notes to a Paying Agent to collect principal payments. The Company will pay principal, premium, if any, and interest in money of the United States that at the time of
payment is legal tender for payment of public and private debts. Payments in respect of Notes represented by a Global Note (including principal, premium, if any, and interest) will be made by wire transfer of immediately available funds to the
accounts specified by DTC. The Company will make all payments in respect of a Definitive Note (including principal, premium, if any, and interest) by mailing a check to the registered address of each Holder thereof; provided, however,
that payments on the Notes may also be made, in the case of a Holder of at least $1,000,000 aggregate principal amount of Notes represented by Definitive Notes, by wire transfer to a U.S. dollar account maintained by the payee with a bank in the
United States if such Holder elects payment by wire transfer by giving written notice to the Trustee or the Paying Agent to such effect designating such account no later than 15 days immediately preceding the relevant due date for payment (or such
other date as the Trustee may accept in its discretion). 
  

	3.	Paying Agent and Registrar 

 Initially, Wells Fargo Bank, National Association (the
“Trustee”), will act as Trustee, Paying Agent and Registrar. The Company may appoint and change any Paying Agent, Registrar, co-registrar or transfer agent without notice to any Holder. The Company or any of its domestically
organized, wholly owned Subsidiaries may act as Paying Agent, Registrar or co-registrar. 
  

 

	3 	Included only for Initial Notes. 

	4 	Insert the Interest Payment Date immediately preceding the date of issuance of the applicable Additional Notes, or if the date of issuance of such Additional Notes is an Interest Payment Date, such date of issuance.

	5 	Include only for Additional Notes. 

  
 Ex. A-5 

	4.	Indenture 

 The Company issued the Notes under an Indenture dated as of October 21,
2013 (as it may be amended or supplemented from time to time in accordance with the terms thereof, the “Indenture”), among the Company, the Guarantors, the Trustee and the Notes Collateral Agent. The terms of the Notes include those
stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture Act of 1939 (15 U.S.C. §§ 77aaa-77bbbb) as in effect on the Issue Date (the “Act”). Capitalized terms used herein and
not defined herein have the meanings ascribed thereto in the Indenture. The Notes are subject to all terms and provisions of the Indenture, and Holders are referred to the Indenture and the Act for a statement of those terms. 

The Notes are secured senior obligations of the Company. This Note is one of the 8.500% Senior Secured Notes due 2019 referred to in the
Indenture. The Notes include (i) $200,000,000 aggregate principal amount of the Company’s 8.500% Senior Secured Notes due 2019 issued under the Indenture (herein called “Initial Notes”) and (ii) if and when issued,
additional notes, issued pursuant to Article II of the Indenture and otherwise in compliance with the provisions of the Indenture, having identical terms and conditions as the Notes other than issue date, issue price and the first interest payment
date (herein called “Additional Notes”) as provided in Section 2.1 of the Indenture. The Initial Notes and Additional Notes are treated as a single class of securities under the Indenture and shall be secured by first
and second priority Liens and security interests, subject to Permitted Liens, in the Collateral. The Indenture imposes certain limitations on, among others, the incurrence of indebtedness, the making of restricted payments, the sale of assets, the
incurrence of certain liens, sale-leaseback transactions, transaction with affiliates, the making of payments for consents, designation of restricted and unrestricted subsidiaries, the entering into of agreements that restrict distributions from
restricted subsidiaries and the consummation of mergers and consolidations. The Indenture also imposes requirements with respect to the provision of financial information and the provision of guarantees of the Notes by certain subsidiaries. 

To guarantee the due and punctual payment of the principal, premium, if any, and interest (including postfiling or post-petition interest) on
the Notes and all other amounts payable by the Company under the Indenture, the Notes, the Notes Documents and the Intercreditor Agreement (including expenses and indemnification) when and as the same shall be due and payable, whether at maturity,
by acceleration or otherwise, according to the terms of the Notes and the Indenture, the Guarantors have as primary obligors and not merely as sureties, irrevocably and unconditionally guaranteed (and future guarantors, together with the Guarantors,
will unconditionally guarantee), jointly and severally, on a senior secured basis, all such obligations pursuant to the terms of the Indenture. 
  

	5.	Redemption and Prepayment 

 Except as described below, the Notes will not be redeemable
at the Company’s option prior to November 1, 2016. 
 At any time prior to November 1, 2016, the Company may on any one or
more occasions redeem up to 35% of the aggregate principal amount of Notes issued under the Indenture at a redemption price of 108.500% of the principal amount, plus accrued and unpaid interest to the redemption date, with the net cash proceeds of
one or more Equity Offerings of the Company (or of any Parent, to the extent such proceeds are contributed to the Company’s common equity capital); provided that: 

(1) at least 65% of the aggregate principal amount of the Initial Notes (excluding Notes held by the Company and its
Subsidiaries) remains outstanding immediately after the occurrence of such redemption; and 
 (2) the redemption occurs
within 90 days of the date of the closing of such Equity Offering or contribution. 
 At any time prior to November 1, 2016, the
Company may redeem all or a part of the Notes, upon not less than 30 days’ nor more than 60 days’ prior notice mailed by first-class mail to each Holder’s registered address or 

  
 Ex. A-6 

 
otherwise in accordance with the procedures of DTC, at a redemption price equal to 100% of the principal amount of Notes redeemed plus the Applicable Premium as of, and accrued and unpaid
interest to, the date of redemption (the “Redemption Date”), subject to the rights of Holders on the relevant record date to receive interest due on the relevant interest payment date. 

On or after November 1, 2016, the Company may redeem all or a part of the Notes upon not less than 30 days’ nor more than 60
days’ notice, at the redemption prices (expressed as percentages of principal amount) set forth below plus accrued and unpaid interest on the Notes redeemed, to the applicable redemption date, if redeemed during the twelve-month period
beginning on November 1 of the years indicated below, subject to the rights of Holders on the relevant record date to receive interest on the relevant interest payment date: 

 

					
	 Year
	  	Percentage	 
	 2016
	  	 	104.250	% 
	 2017
	  	 	102.125	% 
	 2018
	  	 	100.000	% 

 Unless the Company defaults in the payment of the redemption price, interest will cease to accrue on the Notes
or portions thereof called for redemption on the applicable redemption date. 
 “Applicable Premium” means, with respect to
any Note on any redemption date, the greater of: 
 (1) 1.0% of the principal amount of the Note; or 

(2) the excess of: 

(a) the present value at such redemption date of (i) the redemption price of the Note at November 1, 2016 (such
redemption price being set forth in the table appearing in Section 5.7(e) of the Indenture plus (ii) all required interest payments due on the Note through November 1, 2016 (excluding accrued but unpaid interest to the redemption date),
computed using a discount rate equal to the Treasury Rate as of such redemption date plus 50 basis points; over 
 (b) the
principal amount of the Note, if greater. 
 “Treasury Rate” means, as of any redemption date, the yield to maturity as of
such redemption date of United States Treasury securities with a constant maturity (as compiled and published in the most recent Federal Reserve Statistical Release H.15 (519) that has become publicly available at least two business days prior
to the redemption date (or, if such Statistical Release is no longer published, any publicly available source of similar market data)) most nearly equal to the period from the redemption date to November 1, 2016; provided,
however, that if the period from the redemption date to November 1, 2016 is less than one year, the weekly average yield on actively traded United States Treasury securities adjusted to a constant maturity of one year will be used. 

The Company may acquire Notes by means other than a redemption, whether by tender offer, open market purchases, negotiated transactions or
otherwise, in accordance with applicable securities laws, so long as such acquisition does not otherwise violate the terms of the Indenture. 

Except as set forth in the next succeeding paragraph, the Company is not required to make any mandatory repurchase, redemption or sinking fund
payments with respect to the Notes. 
  

	6.	Change of Control Repurchase Provisions 

 If a Change of Control occurs, unless the
Company has exercised its right to redeem all of the Notes as described under paragraph 5 hereof, each Holder will have the right to require the Company to repurchase from such Holder all or any part (equal to at least $2,000 or an integral multiple
of $1,000 in excess thereof) of such Holder’s Notes at a purchase price in cash equal to 101% of the aggregate principal amount thereof, plus accrued and unpaid interest, if any, on the Notes repurchased to the date of purchase (subject to the
rights of Holders of record on the relevant record date to receive interest due on the relevant interest payment date) as provided in, and subject to the terms of, the Indenture. 

  
 Ex. A-7 

	7.	Denominations; Transfer; Exchange 

 The Notes are in registered form without coupons in
minimum denominations of principal amount of $2,000 and whole multiples of $1,000 in excess thereof. A Holder may transfer or exchange Notes in accordance with the Indenture. The Registrar may require a Holder, among other things, to furnish
appropriate endorsements or transfer documents and to pay a sum sufficient to cover any taxes and fees required by law or permitted by the Indenture. The Registrar need not register the transfer of or exchange of any Note (A) for a period
beginning (1) 15 days before the mailing of a notice of an offer to repurchase or redeem Notes and ending at the close of business on the day of such mailing or (2) 15 days before an interest payment date and ending on such interest
payment date or (B) called for redemption, except the unredeemed portion of any Note being redeemed in part. 
  

	8.	Persons Deemed Owners 

 The registered Holder of this Note shall be treated as the owner
of it for all purposes. 
  

	9.	Unclaimed Money 

 If money for the payment of principal, premium, if any, or interest on
any Note remains unclaimed for two years after such principal, premium, if any, or interest has become due and payable, the Trustee or any Paying Agent shall pay the money back to the Company at its request unless an abandoned property law
designates another Person. After any such payment, Holders entitled to the money must look only to the Company for payment as general creditors unless an abandoned property law designates another person and not to the Trustee for payment. 

 

	10.	Defeasance 

 Subject to certain exceptions and conditions set forth in the Indenture, the
Company at any time may terminate some or all of its obligations under the Notes, the Indenture, the Collateral Documents and the Intercreditor Agreement if the Company deposits with the Trustee money or Government Securities for the payment of
principal, premium, if any, and interest on the Notes to redemption or maturity, as the case may be. 
  

	11.	Amendment, Supplement, Waiver 

 Subject to certain exceptions set forth in the Indenture,
(i) the Indenture, the Notes, the Note Guarantees, the Collateral Documents or the Intercreditor Agreement may be amended or supplemented by the Company and Trustee with the consent of the Holders of at least a majority in aggregate principal
amount of the then-outstanding Notes and (ii) any default (other than with respect to nonpayment of interest or premium on, or the principal of, the Notes or in respect of a provision that cannot be amended without the consent of each Holder
affected or, in certain cases described in the Indenture, the Collateral Documents and the Intercreditor Agreement, the consent of Holders of 75% in aggregate principal amount of the Notes then outstanding) or noncompliance with any provision may be
waived with the consent of the Holders of a majority in aggregate principal amount of the then-outstanding Notes. 
 Subject to certain
exceptions set forth in the Indenture, without the consent of any Holder, the Company, the Trustee and the Guarantors (with respect to their Note Guarantee) may amend or supplement the Indenture, the Notes, the Note Guarantees, the Collateral
Documents or the Intercreditor Agreement (1) to cure any ambiguity, defect or inconsistency; (2) to provide for uncertificated Notes in addition to or in place of certificated Notes; (3) to provide for the assumption of the
Company’s or a Guarantor’s obligations to Holders and Note Guarantees in the case of a merger or consolidation or sale of all or substantially all of the Company’s or such Guarantor’s assets, as applicable; (4) to make any
change that would provide any additional rights or benefits to the Holders or that does not adversely affect the legal rights under the Indenture, the Notes, the Note Guarantees, the Collateral Documents and the Intercreditor Agreement of any such
Holder; (5) to conform the text of the Indenture, the Note Guarantees, the Notes, the Collateral Documents or the Intercreditor Agreement to any provision of the “Description of Notes” section of the Offering Memorandum to the extent
that such provision in that “Description of Notes” section was 

  
 Ex. A-8 

 
intended to be a verbatim recitation of a provision of the Indenture, the Note Guarantees , the Notes, the Collateral Documents or the Intercreditor Agreement, as provided to the Trustee in an
Officer’s Certificate; (6) to provide for the issuance of Additional Notes in accordance with the limitations set forth in the Indenture as of the Issue Date; (7) to allow any Guarantor to execute a supplemental indenture and/or a
Note Guarantee with respect to the Notes; (8) to secure any Pari Passu Lien Indebtedness under the Collateral Documents and to appropriately include the same in the Intercreditor Agreement; (9) to add additional Collateral to secure the
Notes Obligations; or (10) to release Liens in favor of the Notes Collateral Agent in the Collateral as provided in Section 11.6 of the Indenture or release any Guarantor from its Note Guarantee as provided under Article X of
the Indenture. 
  

	12.	Defaults and Remedies 

 Each of the following is an “Event of Default”:

 (1) default for 30 days in the payment when due of interest on the Notes; 

(2) default in the payment when due (at maturity, upon redemption or otherwise) of the principal of, or premium, if any, on,
the Notes; 
 (3) failure by the Company or any of its Restricted Subsidiaries to comply with the provisions of
Section 3.5, 3.10 or 4.1 of the Indenture; 
 (4) failure by the Company or any of its Restricted
Subsidiaries for 60 days after notice to the Company by the Trustee or the Holders of at least 25% in aggregate principal amount of the Notes then outstanding voting as a single class to comply with any of the other agreements in the Indenture, the
Notes, the Collateral Documents or the Intercreditor Agreement; 
 (5) default under any mortgage, indenture or instrument
under which there may be issued or by which there may be secured or evidenced any Indebtedness for money borrowed by the Company or any of its Restricted Subsidiaries (or the payment of which is guaranteed by the Company or any of its Restricted
Subsidiaries), whether such Indebtedness or guarantee now exists, or is created after the Issue Date, if that default: 
 (a)
is caused by a failure to pay any such Indebtedness at its final Stated Maturity (after giving effect to any applicable grace period) (a “Payment Default”); or 

(b) results in the acceleration of such Indebtedness prior to its final Stated Maturity, 

and, in each case, the principal amount of any such Indebtedness, together with the principal amount of any other such Indebtedness under which
there has been a Payment Default or the maturity of which has been so accelerated, aggregates $15.0 million or more; 
 (6)
failure by the Company or any of its Significant Subsidiaries to pay final and non- appealable judgments entered by a court or courts of competent jurisdiction aggregating in excess of $15.0 million (net of any amount covered by insurance issued by
a national insurance company that has not contested coverage), which judgments are not paid, discharged or stayed for a period of 60 days and in the event such judgment is covered by insurance, an enforcement proceeding has been commenced by any
creditor upon such judgment or decree which is not promptly stayed; 
 (7) any (x) Note Guarantee, (y) Collateral
Document governing a security interest with respect to any Collateral having a fair market value in excess of $15.0 million or (z) obligation under the Intercreditor Agreement, in each case, of the Company or a Significant Subsidiary or group
of Restricted Subsidiaries that taken together as of the date of the latest audited consolidated financial statements for the Company and its Restricted Subsidiaries would constitute a Significant Subsidiary ceases to be in full force and effect
(except as contemplated by the terms of the Indenture and the Note Guarantees) or is declared null and void in a judicial proceeding or the Company or any Guarantor that is a Significant Subsidiary or 

  
 Ex. A-9 

 group of Guarantors that taken together as of the date of the latest audited consolidated
financial statements of the Company and its Restricted Subsidiaries would constitute a Significant Subsidiary denies or disaffirms its obligations under the Indenture; 

(8) certain events of bankruptcy, insolvency or reorganization described in the Indenture with respect to the Company or any of
its Restricted Subsidiaries that is a Significant Subsidiary or any group of Restricted Subsidiaries that, taken together, would constitute a Significant Subsidiary; and 

(9) with respect to any Collateral having a fair market value in excess of $15.0 million, individually or in the aggregate,
(A) the failure of the security interest with respect to such Collateral under the Collateral Documents, at any time, to be in full force and effect for any reason other than in accordance with their terms and the terms of the Indenture and
other than the satisfaction in full of all obligations under the Indenture and discharge of the Indenture if such Default continues for 60 days, (B) the declaration that the security interest with respect to such Collateral created under the
Collateral Documents or under the Indenture is invalid or unenforceable, if such Default continues for 60 days or (C) the assertion by the Company or any Guarantor, in any pleading in any court of competent jurisdiction, that any such security
interest is invalid or unenforceable. 
 If an Event of Default (other than an Event of Default described in clause (8) above) occurs
and is continuing, the Trustee by written notice to the Company, or the Holders of at least 25% in aggregate principal amount of the then-outstanding Notes by notice to the Company and the Trustee, may, and the Trustee at the request of such Holders
shall, declare the principal of, premium, if any, and accrued and unpaid interest, if any, on all the Notes to be due and payable. Upon such a declaration, such principal, premium and accrued and unpaid interest shall be due and payable immediately.

 In the case of an Event of Default specified in clause (5) of the first paragraph above, such Event of Default and all consequences
thereof (excluding, however, any resulting payment default) will be annulled, waived and rescinded, automatically and without any action by the Trustee or the Holders, if within 20 days after such Event of Default arose the Company delivers an
Officer’s Certificate to the Trustee stating that (x) the Indebtedness that is the basis for such Event of Default has been discharged or (y) the holders thereof have rescinded or waived the acceleration, notice or action (as the case
may be) giving rise to such Event of Default or (z) the default that is the basis for such Event of Default has been cured, it being understood that in no event shall an acceleration of the principal amount of the Notes as described above be
annulled, waived or rescinded upon the happening of such events. 
 In the case of an Event of Default specified in clause (8) above,
with respect to the Company, any Restricted Subsidiary of the Company that is a Significant Subsidiary or any group of Restricted Subsidiaries of the Company that, taken together, would constitute a Significant Subsidiary, all outstanding Notes will
become due and payable immediately without further action or notice. 
 The Holders of a majority in aggregate principal amount of the
then-outstanding Notes may direct the time, method and place of conducting any proceeding for exercising any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee. 

The Trustee may withhold from Holders notice of any continuing Default or Event of Default if it determines that withholding notice is in
their interest, except a Default or Event of Default relating to the payment of principal, interest or premium. 
 Subject to the provisions
of the Indenture relating to the duties of the Trustee or the Notes Collateral Agent, in case an Event of Default occurs and is continuing, the Trustee or the Notes Collateral Agent will be under no obligation to exercise any of the rights or powers
under the Indenture, the Notes, the Note Guarantees, the Collateral Documents and the Intercreditor Agreement at the request or direction of any Holders unless such Holders have offered to the Trustee or Notes Collateral Agent indemnity or security
satisfactory to it against any loss, liability or expense. 

  
 Ex. A-10 

	13.	Trustee Dealings with the Company 

 Subject to certain limitations set forth in the
Indenture, the Trustee under the Indenture, in its individual or any other capacity, may become the owner or pledgee of Notes and may otherwise deal with the Company or its Affiliates with the same rights it would have if it were not Trustee. 

 

	14.	No Recourse Against Others 

 No director, officer, employee, incorporator, member,
partner or stockholder of the Company or any Guarantor, as such, will have any liability for any obligations of the Company or the Guarantors under the Notes, the Indenture and the Note Guarantees or for any claim based on, in respect of, or by
reason of, such obligations or their creation. Each Holder by accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Notes. 

 

	15.	Authentication 

 This Note shall not be valid until an authorized officer of the Trustee
(or an authenticating agent acting on its behalf) manually signs the certificate of authentication on the other side of this Note. 
  

	16.	Abbreviations 

 Customary abbreviations may be used in the name of a Holder or an
assignee, such as TEN COM (= tenants in common), TEN ENT (= tenants by the entirety), JT TEN (= joint tenants with rights of survivorship and not as tenants in common), CUST (= custodian) and U/G/M/A (= Uniform Gift to Minors Act). 

 

	17.	CUSIP, Common Code and ISIN Numbers 

 The Company has caused CUSIP, Common Code and ISIN
numbers, if applicable, to be printed on the Notes and has directed the Trustee to use CUSIP, Common Code and ISIN numbers, if applicable, in notices of redemption or purchase as a convenience to Holders. No representation is made as to the accuracy
of such numbers either as printed on the Notes or as contained in any notice of redemption or purchase and reliance may be placed only on the other identification numbers placed thereon. 

 

	18.	Governing Law 

 This Note shall be governed by, and construed in accordance with, the
laws of the State of New York. 
 The Company will furnish to any Holder upon written request and without charge to the Holder a copy of the
Indenture, which has in it the text of this Note in larger type. Requests may be made to: 
 Allied Specialty Vehicles, Inc. 

4776 New Broad Street 
 Orlando,
Florida 32814 
 Attention: Chief Financial Officer 
  

	19.	USA Patriot Act 

 The parties hereto acknowledge that in order to help the government
fight the funding of terrorism and money laundering activities, pursuant to federal regulations that became effective on October 1, 2003, Section 326 of the USA PATRIOT Act requires all financial institutions to obtain, verify and record
information that identifies each person establishing a relationship or opening an account with Wells Fargo Bank, National Association. The parties hereto agree that they will provide the Trustee with name, address, tax identification number, if
applicable, and other information that will allow the Trustee to identify the individual or entity who is establishing the relationship, and will further provide the Trustee with formation documents such as articles of incorporation or other
identifying documents. 

  
 Ex. A-11 

 ASSIGNMENT FORM 

To assign this Note, fill in the form below: 

I or we assign and transfer this Note to: 
  

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

(Insert assignee’s social security or tax I.D. No.) 

and irrevocably
appoint                                        
agent to transfer this Note on the books of the Company. The agent may substitute another to act for him. 
  

									
	Date:	 	  
	 		 	Your Signature:	 	  

									
					
	Signature	 		 		 		 	
	Guarantee:	 	                                   
                                         
        	 		 	
		 	(Signature must be guaranteed)	 		 		 	
			
	  
	 		 	
	Sign exactly as your name appears on the other side of this Note.	 		 	

 The signature(s) should be guaranteed by an eligible guarantor institution (banks, stockbrokers, savings and loan associations
and credit unions with membership in an approved signature guarantee medallion program), pursuant to S.E.C. Rule 17Ad-15. 
 The undersigned hereby
certifies that it ☐ is / ☐ is not an Affiliate of the Company and that, to its knowledge, the proposed transferee ☐ is / ☐ is not an Affiliate of the Company. 

In connection with any transfer or exchange of any of the Notes evidenced by this certificate occurring prior to the date that is one year
after the later of the date of original issuance of such Notes and the last date, if any, on which such Notes were owned by the Company or any Affiliate of the Company, the undersigned confirms that such Notes are being: 

CHECK ONE BOX BELOW: 
  

					
	(1)	 	☐	 	acquired for the undersigned’s own account, without transfer;
			
	(2)	 	☐	 	transferred to the Company;
			
	(3)	 	☐	 	transferred pursuant to and in compliance with Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”);
			
	(4)	 	☐	 	transferred pursuant to and in compliance with Regulation S under the Securities Act (provided that the transferee has furnished to the Trustee a signed letter containing certain representations and agreements, the form of
which letter is attached as Exhibit E to the Indenture); or
			
	(5)	 	☐	 	transferred pursuant to another available exemption from the registration requirements of the Securities Act of 1933, as amended.

  
 Ex. A-12 

 Unless one of the boxes is checked, the Trustee will refuse to register any of the Notes evidenced by this
certificate in the name of any person other than the registered Holder thereof; provided, however, that if box (4), (5) or (6) is checked, the Company may require, prior to registering any such transfer of the Notes, in its
sole discretion, such legal opinions, certifications and other information as the Company may reasonably request to confirm that such transfer is being made pursuant to an exemption from, or in a transaction not subject to, the registration
requirements of the Securities Act of 1933, as amended, such as the exemption provided by Rule 144 under such Act. 
  

					
		 		 	  

		 		 	Signature
			
	Signature Guarantee:	 		 	
			
	  
	 		 	  

	(Signature must be guaranteed)	 		 	Signature

 The signature(s) should be guaranteed by an eligible guarantor institution (banks, stockbrokers, savings and loan associations
and credit unions with membership in an approved signature guarantee medallion program), pursuant to S.E.C. Rule 17Ad-15. 
 TO BE COMPLETED BY PURCHASER IF
BOX (1) OR (3) ABOVE IS CHECKED. 
 The undersigned represents and warrants that it is purchasing this Note for its own account or
an account with respect to which it exercises sole investment discretion and that it and any such account is a “qualified institutional buyer” within the meaning of Rule 144A under the Securities Act of 1933, as amended, and is aware that
the sale to it is being made in reliance on Rule 144A and acknowledges that it has received such information regarding the Company as the undersigned has requested pursuant to Rule 144A or has determined not to request such information and that it
is aware that the transferor is relying upon the undersigned’s foregoing representations in order to claim the exemption from registration provided by Rule 144A. 

 

	
	  

	
	Dated:

  
 Ex. A-13 

 SCHEDULE OF INCREASES OR DECREASES IN GLOBAL SECURITY 

The following increases or decreases in this Global Note have been made: 

 

									
	 	 	Amount of decrease in	 	Amount of increase in	 	Principal Amount of this	 	Signature of authorized
	 	 	Principal Amount of this	 	Principal Amount of this	 	Global Note following	 	signatory of Trustee or
	 Date of Exchange
	 	 Global Note
	 	 Global Note
	 	 such decrease or increase
	 	 Notes Custodian

		 		 		 		 	
		 		 		 		 	
		 		 		 		 	

  
 Ex. A-14 

 OPTION OF HOLDER TO ELECT PURCHASE 

If you elect to have this Note purchased by the Company pursuant to Section 3.5 or 3.10 of the Indenture, check either box:

 ☐    3.5            ☐    
3.10 
 If you want to elect to have only part of this Note purchased by the Company pursuant to Section 3.5 or
Section 3.10 of the Indenture, state the amount in principal amount (must be in minimum denominations of $2,000 or an integral multiple of $1,000 in excess thereof): $         and specify the
denomination or denominations (which shall not be less than the minimum authorized denomination) of the Notes to be issued to the Holder for the portion of the within Note not being repurchased (in the absence of any such specification, one such
Note will be issued for the portion not being repurchased):                     . 

Date:                      

 

					
	Your Signature:	 	                                   
                                         
                                
	 (Sign exactly as your name appears on the other side of this Note)

			
	Signature	 		  	
	Guarantee:
                                         
                                       
	     (Signature must be guaranteed)

 The signature(s) should be guaranteed by an eligible guarantor institution (banks, stockbrokers, savings and
loan associations and credit unions with membership in an approved signature guarantee medallion program), pursuant to S.E.C. Rule 17Ad-15. 

  
 Ex. A-15 

 EXHIBIT B 

FORM OF NOTE GUARANTEE 

Pursuant to the Indenture (the “Indenture”) dated as of October 21, 2013 among Allied Specialty Vehicles, Inc., the
Guarantors party thereto (each a “Guarantor” and collectively the “Guarantors”) and Wells Fargo Bank, National Association, as trustee (the “Trustee”) and as notes collateral agent (“Notes
Collateral Agent”), each Guarantor, subject to the provisions of Article X of the Indenture, hereby fully, unconditionally and irrevocably guarantees, on a senior secured basis, as primary obligor and not merely as surety, jointly
and severally with each other Guarantor, to each Holder of the Notes, to the extent lawful, and the Trustee, the full and punctual payment when due, whether at maturity, by acceleration, by redemption or otherwise, of the principal of, premium, if
any, and interest on the Notes, expenses, indemnification or otherwise and all other Obligations and liabilities of the Company under the Indenture (including without limitation interest accruing after the filing of any petition in bankruptcy, or
the commencement of any insolvency, reorganization or like proceeding relating to the Company or any Guarantor, whether or not a claim for post-filing or post-petition interest is allowed in such proceeding, and the obligations under
Section 7.7 of the Indenture), the Notes, the Collateral Documents and the Intercreditor Agreement (all the foregoing being hereinafter collectively called the “Guaranteed Obligations”). 

Each Note Guarantee will be secured on a first-priority basis by the Notes Collateral owned by such Guarantor and on a second-priority basis
by the ABL Collateral owned by such Guarantor. Such Guarantors will also agree to pay any and all costs and expenses (including reasonable counsel fees and expenses) incurred by the Trustee, the Notes Collateral Agent or the Holders in enforcing any
rights under the Note Guarantees. 
 Each Guarantor agrees (to the extent permitted by law) that the Guaranteed Obligations may be extended
or renewed, in whole or in part, without notice or further assent from it, and that it will remain bound under Article X of the Indenture notwithstanding any extension or renewal of any Guaranteed Obligation. 

To the fullest extent permitted by law, each Guarantor waives presentation to, demand of payment from and protest to the Company of any of the
Guaranteed Obligations and also waives notice of protest for nonpayment. To the fullest extent permitted by law, each Guarantor waives notice of any default under the Notes or the Guaranteed Obligations. 

Each Guarantor further agrees that its Note Guarantee herein constitutes a guarantee of payment when due (and not a guarantee of collection)
and waives any right to require that any resort be had by any Holder to any security held for payment of the Guaranteed Obligations. 

Except as set forth in Section 10.2 of the Indenture, the obligations of each Guarantor hereunder shall not be subject to any
reduction, limitation, impairment or termination for any reason (other than payment of the Guaranteed Obligations in full), including any claim of waiver, release, surrender, alteration or compromise, and shall not be subject to any defense of
setoff, counterclaim, recoupment or termination whatsoever or by reason of the invalidity, illegality or unenforceability of the Guaranteed Obligations or otherwise. Without limiting the generality of the foregoing, the obligations of each Guarantor
herein shall not be discharged or impaired or otherwise affected by (i) the failure of any Holder to assert any claim or demand or to exercise or enforce any right or remedy against the Company or any other person under the Indenture, the Notes
or any other agreement or otherwise; (ii) any extension or renewal of any thereof; (iii) any rescission, waiver, amendment or modification of any of the terms or provisions of the Indenture, the Notes or any other agreement; (iv) the
release of any security held by any Holder or the Notes Collateral Agent for the Guaranteed Obligations or any of them; (v) any change in the ownership of the Company; (vi) any default, failure or delay, willful or otherwise, in the
performance of the Guaranteed Obligations; or (vii) any other act or thing or omission or delay to do any other act or thing which may or might in any manner or to any extent vary the risk of any Guarantor or would otherwise operate as a
discharge of such Guarantor as a matter of law or equity. 

  
 Ex. B-1 

 Each Guarantor agrees that its Note Guarantee herein shall remain in full force and effect until
payment in full of all the Guaranteed Obligations or such Guarantor is released from its Note Guarantee in compliance with Section 10.2, Article VIII or Article XII of the Indenture. Each Guarantor further agrees that its Note
Guarantee herein shall continue to be effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of principal of, premium, if any, or interest on any of the Guaranteed Obligations is rescinded or must otherwise be
restored by any Holder upon the bankruptcy or reorganization of the Company or otherwise. 
 In furtherance of the foregoing and not in
limitation of any other right which any Holder has at law or in equity against any Guarantor by virtue hereof, upon the failure of the Company to pay any of the Guaranteed Obligations when and as the same shall become due, whether at maturity, by
acceleration, by redemption or otherwise, each Guarantor hereby promises to and will, upon receipt of written notice by the Trustee, forthwith pay, or cause to be paid, in cash, to the Trustee or the Trustee on behalf of the Holders an amount equal
to the sum of (i) the unpaid amount of such Guaranteed Obligations then due and owing and (ii) accrued and unpaid interest on such Guaranteed Obligations then due and owing (but only to the extent not prohibited by law). 

Each Guarantor further agrees that, as between such Guarantor, on the one hand, and the Holders, on the other hand, (x) the maturity of
the Guaranteed Obligations may be accelerated as provided in the Indenture for the purposes of its Note Guarantee herein, notwithstanding any stay, injunction or other prohibition preventing such acceleration in respect of the Guaranteed Obligations
and (y) in the event of any such declaration of acceleration of such Guaranteed Obligations, such Obligations (whether or not due and payable) shall forthwith become due and payable by the Guarantor for the purposes of this Note Guarantee. 

Each Guarantor also agrees to pay any and all reasonable costs and expenses (including reasonable counsel fees and expenses) incurred by the
Trustee, the Notes Collateral Agent or the Holders in enforcing any rights under this Note Guarantee. 
 Any Guarantor that makes a payment
under this Note Guarantee will be entitled upon payment in full of all Guaranteed Obligations under the Indenture to a contribution from each other Guarantor in an amount equal to such other Guarantor’s pro rata portion of such payment based on
the respective net assets of all the Guarantors at the time of such payment as determined in accordance with GAAP. 
  

			
	[                    ]
	      as Guarantors
		
	By:	 	  

		 	Name:
		 	Title:

  
 Ex. B-2 

 EXHIBIT C 

FORM OF INDENTURE SUPPLEMENT TO ADD SUBSIDIARY GUARANTORS 

This Supplemental Indenture, dated as of
[                    ] (this “Supplemental Indenture” or “Guarantee”), among [name of future Guarantor] (the
“Guarantor”), Allied Specialty Vehicles, Inc. (together with its successors and assigns, the “Company”), and Wells Fargo Bank, National Association, as Trustee under the Indenture referred to below. 

WITNESSETH: 
 WHEREAS, the
Company, the existing Guarantors, the Notes Collateral Agent and the Trustee have heretofore executed and delivered an Indenture, dated as of October 21, 2013 (as amended, supplemented, waived or otherwise modified, the
“Indenture”), providing for the issuance of an aggregate principal amount of $200.0 million of 8.500% Senior Secured Notes due 2019 of the Company (the “Notes”); 

WHEREAS, Section 3.12 of the Indenture provides that after the Issue Date the Company is required to cause each Restricted
Subsidiary that guarantees any Indebtedness of the Company or any Guarantor to execute and deliver to the Trustee a supplemental indenture pursuant to which such Subsidiary will unconditionally guarantee, on a joint and several basis with the other
Guarantors, the full and prompt payment of the principal of, premium, if any, and interest on the Notes on a secured basis; and 
 WHEREAS,
pursuant to Section 9.1 of the Indenture, the Trustee and the Company are authorized to execute and deliver this Supplemental Indenture to amend or supplement the Indenture, without the consent of any Holder; 

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

ARTICLE I 
 Definitions 

SECTION 1.1 Defined Terms. As used in this Supplemental Indenture, terms defined in the Indenture or in the preamble or recital hereto
are used herein as therein defined. The words “herein,” “hereof’ and “hereby” and other words of similar import used in this Supplemental Indenture refer to this Supplemental Indenture as a whole and not to any
particular section hereof. 
 ARTICLE II 

Agreement to Be Bound; Guarantee 

SECTION 2.1 Agreement to Be Bound. The Guarantor hereby becomes a party to the Indenture as a Guarantor and as such will have all of
the rights and be subject to all of the obligations and agreements of a Guarantor under the Indenture. The Guarantor hereby becomes a party to the Notes Pledge and Security Agreement, pursuant to the terms of such agreement, as a Grantor thereunder
with the same force and effect as if originally named therein as a Grantor and as such hereby assumes all obligations and liabilities of a Grantor thereunder. The Guarantor agrees to be bound by all of the provisions of the Indenture, the Notes
Documents and the Intercreditor Agreement applicable to a Guarantor and to perform all of the obligations and agreements of a Guarantor under the Indenture, the Notes Documents and the Intercreditor Agreement. 

SECTION 2.2 Guarantee. The Guarantor agrees, on a joint and several basis with all the existing Guarantors, to fully, unconditionally
and irrevocably guarantee to each Holder and the Trustee the Obligations pursuant to Article X of the Indenture on a secured basis. 

  
 Ex. C-1 

 ARTICLE III 

Miscellaneous 
 SECTION 3.1
Notices. All notices and other communications to the Guarantor shall be given as provided in the Indenture to the Guarantor, at its address set forth below, with a copy to the Company as provided in the Indenture for notices to the Company.

 SECTION 3.2 Parties. Nothing expressed or mentioned herein is intended or shall be construed to give any Person, firm or
corporation, other than the Holders and the Trustee, any legal or equitable right, remedy or claim under or in respect of this Supplemental Indenture or the Indenture or any provision herein or therein contained. 

SECTION 3.3 Governing Law. This Supplemental Indenture shall be governed by, and construed in accordance with, the laws of the State of
New York. 
 SECTION 3.4 Severability Clause. In case any provision in this Supplemental Indenture shall be invalid, illegal or
unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby and such provision shall be ineffective only to the extent of such invalidity, illegality or unenforceability.

 SECTION 3.5 Ratification of Indenture; Supplemental Indentures Part of Indenture. Except as expressly amended hereby, the
Indenture is in all respects ratified and confirmed and all the terms, conditions and provisions thereof shall remain in full force and effect. This Supplemental Indenture shall form a part of the Indenture for all purposes, and every Holder
heretofore or hereafter authenticated and delivered shall be bound hereby. The Trustee shall not be responsible for and makes no representation or warranty as to the validity, execution, or sufficiency of this Supplemental Indenture or with respect
to the recitals contained herein, all of which recitals are made solely by the other parties hereto. 
 SECTION 3.6 Counterparts. The
parties hereto may sign one or more copies of this Supplemental Indenture in counterparts, all of which together shall constitute one and the same agreement. The exchange of copies of this Supplemental Indenture and of signature pages by facsimile
or PDF transmission shall constitute effective execution and delivery of this Supplemental Indenture as to the parties hereto and may be used in lieu of the original Supplemental Indenture and signature pages for all purposes. 

SECTION 3.7 Headings. The headings of the Articles and the sections in this Supplemental Indenture are for convenience of reference
only and shall not be deemed to alter or affect the meaning or interpretation of any provisions hereof. 
 SECTION 3.8 Execution,
Delivery and Validity. The Company and the Guarantor each represent and warrant to the Trustee that this Supplemental Indenture has been duly and validly executed and delivered by it and constitutes its legal, valid and binding obligation,
enforceable against it in accordance with its terms. 

  
 Ex. C-2 

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

			
	[NEW GUARANTOR],
	as a Guarantor
		
	By:	 	  

		 	Name:
		 	Title:
	
	[Address]
	
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee
		
	By:	 	  

		 	Name:
		 	Title:
	
	ALLIED SPECIALTY VEHICLES, INC.
		
	By:	 	  

		 	Name:
		 	Title:

  
 Ex. C-3 

 EXHIBIT D 

[Date] 
 Allied Specialty Vehicles, Inc. 

c/o Wells Fargo Bank, National Association, 
 as Trustee and
Registrar – DAPS Reorg. 
 MAC N9303-121 
 608 2nd Avenue
South 
 Minneapolis, MN 55479 
 Telephone No.:
(877) 872-4605 
 Fax No.: (866) 969-1290 
 Email:
DAPSReorg@wellsfargo.com 
  

	 	Re:	Allied Specialty Vehicles, Inc. (the “Company”) 

 8.500% Senior
Secured Notes due 2019 (the “Notes”) 
 Ladies and Gentlemen: 

This letter relates to Notes represented by a temporary global note (the “Temporary Regulation S Global Note”). Pursuant to
Section 2.1 of the Indenture dated as of October 21, 2013 relating to the Notes (the “Indenture”), we hereby certify that the persons who are the beneficial owners of
$[        ] principal amount of Notes represented by the Temporary Regulation S Global Note are persons outside the United States to whom beneficial interests in such Notes could be transferred in accordance
with Rule 904 of Regulation S promulgated under the Securities Act of 1933, as amended. Accordingly, you are hereby requested to issue a Permanent Regulation S Global Note representing the undersigned’s interest in the principal amount of Notes
represented by the Temporary Regulation S Global Note, all in the manner provided by the Indenture. We certify that we [are] [are not] an Affiliate of the Company. 

You and the Company are entitled to rely upon this letter and are irrevocably authorized to produce this letter or a copy hereof to any
interested party in any administrative or legal proceedings or official inquiry with respect to the matters covered hereby. Terms used in this letter have the meanings set forth in Regulation S. 

Very truly yours, 
 [Name of Transferor] 

By: 
 Authorized Signature 

  
 Ex. D-1 

 EXHIBIT E 

[Date] 
 Allied Specialty Vehicles, Inc. 

c/o Wells Fargo Bank, National Association, 
 as Trustee and
Registrar – DAPS Reorg. 
 MAC N9303-121 
 608 2nd Avenue
South 
 Minneapolis, MN 55479 
 Telephone No.:
(877) 872-4605 
 Fax No.: (866) 969-1290 
 Email:
DAPSReorg@wellsfargo.com 
  

	 	Re:	Allied Specialty Vehicles, Inc. (the “Company”) 

 8.500% Senior
Secured Notes due 2019 (the “Notes”) 
 Ladies and Gentlemen: 

In connection with our proposed sale of $[        ] aggregate principal amount of the Notes, we
confirm that such sale has been effected pursuant to and in accordance with Regulation S under the United States Securities Act of 1933, as amended (the “Securities Act”), and, accordingly, we represent that: 

(a) the offer of the Notes was not made to a person in the United States; 

(b) either (i) at the time the buy order was originated, the transferee was outside the United States or we and any person
acting on our behalf reasonably believed that the transferee was outside the United States or (ii) the transaction was executed in, on or through the facilities of a designated off-shore securities market and neither we nor any person acting on
our behalf knows that the transaction has been pre-arranged with a buyer in the United States; 
 (c) no directed selling
efforts have been made in the United States in contravention of the requirements of Rule 903(a)(2) or Rule 904(a)(2) of Regulation S, as applicable; and 

(d) the transaction is not part of a plan or scheme to evade the registration requirements of the Securities Act. 

In addition, if the sale is made during a restricted period and the provisions of Rule 903(b)(2), Rule 903(b)(3) or Rule 904(b)(1) of
Regulation S are applicable thereto, we confirm that such sale has been made in accordance with the applicable provisions of Rule 903(b)(2), Rule 903(b)(3) or Rule 904(b)(1), as the case may be. 

We also hereby certify that we [are] [are not] an Affiliate of the Company and, to our knowledge, the transferee of the Notes [is] [is not] an
Affiliate of the Company. 
 You and the Company are entitled to rely upon this letter and are irrevocably authorized to produce this letter
or a copy hereof to any interested party in any administrative or legal proceedings or official inquiry with respect to the matters covered hereby. Terms used in this certificate have the meanings set forth in Regulation S. 

Very truly yours, 
 [Name of Transferor] 

By: 
 Authorized Signature 

  
 Ex. E-1 

 EXHIBIT F 

[FORM OF] 
 JUNIOR LIEN
INTERCREDITOR AGREEMENT 
 among 

ALLIED SPECIALTY VEHICLES, INC., 

as the Issuer, 
 the other
Grantors party hereto, 
 WELLS FARGO BANK, NATIONAL ASSOCIATION, 

as Senior Representative for the Secured Notes Secured Parties, 

[                    ], 

as the Initial Additional Second Priority Representative, 

and 
 each additional
Representative from time to time party hereto 
 dated as of [            ],
201[  ] 

 JUNIOR LIEN INTERCREDITOR AGREEMENT dated as of
[            ], 201[  ] (as amended, supplemented or otherwise modified from time to time, this “Agreement”), among ALLIED SPECIALTY VEHICLES, INC., a Delaware
corporation (the “Issuer”), the other Grantors (as defined below) from time to time party hereto, WELLS FARGO BANK, NATIONAL ASSOCIATION, as Representative for the Secured Notes Secured Parties (in such capacity, the “Senior
Collateral Agent”), [INSERT NAME AND CAPACITY], as Representative for the Initial Second Priority Debt Parties (in such capacity and together with its successors in such capacity, the “Initial Second Priority
Representative”), [[                    ], as Representative for the Additional Senior Debt Parties under the [describe applicable
Additional Senior Debt Facility]], and each additional Second Priority Representative and Senior Representative that from time to time becomes a party hereto pursuant to Section 8.09. 

In consideration of the mutual agreements herein contained and other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the Senior Collateral Agent (for itself and on behalf of the Secured Notes Secured Parties), the Initial Second Priority Representative (for itself and on behalf of the Initial Second Priority Debt Parties) and each additional
Senior Representative (for itself and on behalf of the Additional Senior Debt Parties under the applicable Additional Senior Debt Facility) and each additional Second Priority Representative (for itself and on behalf of the Second Priority Debt
Parties under the applicable Second Priority Debt Facility) agree as follows: 
 ARTICLE I 

Definitions 
 SECTION
1.01. Certain Defined Terms. Capitalized terms used but not otherwise defined herein have the meanings set forth in the Indenture, or, if defined in the New York UCC, the meanings specified therein. As used in this Agreement, the following
terms have the meanings specified below: 
 “ABL Agent” has the meaning assigned to the term “Revolving Collateral
Agent” in the ABL Intercreditor Agreement. 
 “ABL Priority Collateral” has the meaning assigned to the term
“Revolving Priority Collateral” in the ABL Intercreditor Agreement. 
 “ABL Intercreditor Agreement” has the
meaning assigned to the term “Intercreditor Agreement” in the Indenture. 
 “Additional Senior Debt” means any
Indebtedness that is issued or guaranteed by the Issuer, and/or any Guarantor (other than Indebtedness constituting Notes Obligations) which Indebtedness and guarantees are secured by the Senior Collateral (or a portion thereof) on a pari
passu basis (but without regard to control of remedies) with the Notes Obligations; provided, however, that (i) such Indebtedness is permitted to be incurred, secured and guaranteed on such basis by each then extant Senior
Debt Document and Second Priority Debt Document and (ii) the Representative for the holders of such Indebtedness shall have (A) (x) prior to the Discharge of Notes Obligations, executed a joinder agreement to the Security Agreement in
the form attached thereto (or other form reasonably satisfactory to the Senior Collateral Agent) agreeing on behalf of itself and such holders to (1) be bound by the terms of this Agreement applicable to them, (2) appoint the Senior
Collateral Agent to act as their collateral agent and representative hereunder and (3) agree to be bound by the pari passu intercreditor provisions contained in the Security Agreement (which provisions are binding on the Senior Secured Parties
only) or (y) from and after the Discharge of Notes Obligations, either complied with clause (x) above or executed and delivered to each other Representative a Joinder Agreement substantially in the form of Annex IV hereto and
(B) become a party to the ABL Intercreditor Agreement pursuant thereto by satisfying the conditions set forth therein. 

“Additional Senior Debt Documents” means, with respect to any series, issue or class of Additional Senior Debt Obligations,
the notes, credit agreements, indentures, security documents and the other operative agreements evidencing or governing such Additional Senior Debt and each other agreement entered into for the purpose of securing such Additional Senior Debt
Obligations. 

  
 Ex. F-1 

 “Additional Senior Debt Facility” means each debt facility, credit agreement,
indenture or other governing agreement with respect to any Additional Senior Debt. 
 “Additional Senior Debt Obligations”
means, with respect to any series, issue or class of Additional Senior Debt, all amounts owing pursuant to the terms of such Additional Senior Debt, including, without limitation, the obligation (including guarantee obligations) to pay principal,
interest (including interest that accrues after the commencement of an Insolvency or Liquidation Proceeding, regardless of whether such interest is an allowed claim under such Insolvency or Liquidation Proceeding), letter of credit commissions,
reimbursement obligations, charges, expenses, fees, attorneys costs, indemnities and other amounts payable by a Grantor under any Additional Senior Debt Document. 

“Additional Senior Debt Parties” means, with respect to any series, issue or class of Additional Senior Debt, the holders of
such Additional Senior Debt, the Representative with respect thereto, any trustee or agent therefor under any related Additional Senior Debt Documents and the beneficiaries of each indemnification obligation undertaken by the Issuer or any Guarantor
under any related Additional Senior Debt Documents. 
 “Agreement” has the meaning assigned to such term in the
introductory paragraph of this Agreement. 
 “Bankruptcy Code” means Title 11 of the United States Code, as amended. 

“Bankruptcy Law” means the Bankruptcy Code and any similar federal, state or foreign law for the relief of debtors. 

“Class Debt” has the meaning assigned to such term in Section 8.09. 

“Class Debt Parties” has the meaning assigned to such term in Section 8.09. 

“Class Debt Representatives” has the meaning assigned to such term in Section 8.09. 

“Collateral” means the Senior Collateral and the Second Priority Collateral. 

“Collateral Documents” means the Senior Collateral Documents and the Second Priority Collateral Documents. 

“Debt Facility” means any Senior Facility and any Second Priority Debt Facility. 

“Designated Second Priority Representative” means (i) the Initial Second Priority Representative, until such time as the
Second Priority Debt Facility under the Initial Second Priority Debt Documents ceases to be the only Second Priority Debt Facility under this Agreement and (ii) thereafter, the Second Priority Representative designated from time to time by the
Second Priority Representatives, in a notice to the Designated Senior Representative and the Issuer hereunder, as the “Designated Second Priority Representative” for purposes hereof. 

“Designated Senior Representative” means (i) if at any time there is only one Senior Representative for a Senior
Facility with respect to which the Discharge of Senior Obligations has not occurred, such Senior Representative, (ii) at any time when clause (i) does not apply and there is no ABL Intercreditor Agreement in effect, the Senior Collateral
Agent at such time and (iii) at any time when clause (i) does not apply and there is an ABL Intercreditor Agreement in effect, “Designated Senior Representative” means, collectively, (A) with respect to any ABL Priority
Collateral, the ABL Agent and (B) with respect to any Notes Priority Collateral, the Senior Collateral Agent. Each Second Priority Representative may rely on a notice from any Senior Representative as to whether any Collateral constitutes the
ABL Priority Collateral or the Notes Priority Collateral. 
 “DIP Financing” has the meaning assigned to such term in
Section 6.01. 

  
 Ex. F-2 

 “Discharge” means, with respect to any Shared Collateral and any Debt Facility,
the date on which such Debt Facility and the Senior Obligations or Second Priority Debt Obligations thereunder, as the case may be, are no longer secured by such Shared Collateral pursuant to the terms of the documentation governing such Debt
Facility. The term “Discharged” shall have a corresponding meaning. 
 “Discharge of Notes Obligations”
means, with respect to any Shared Collateral, the Discharge of Notes Obligations with respect to such Shared Collateral; provided that the Discharge of Notes Obligations shall not be deemed to have occurred in connection with a Refinancing of
such Notes Obligations with an Additional Senior Debt Facility secured by such Shared Collateral under one or more Additional Senior Debt Documents which has been designated in writing by the Senior Collateral Agent, or by the Issuer, in each case,
to each other Representative as the “Indenture” for purposes of this Agreement. 
 “Discharge of Senior
Obligations” means the date on which the Discharge of Notes Obligations and the Discharge of each Additional Senior Debt Facility has occurred. 

“Grantors” means the Issuer and each of its Subsidiaries which has granted a security interest pursuant to any Collateral
Document to secure any Secured Obligations. The Grantors existing on the date hereof are set forth in Annex I hereto. 

“Guarantors” has the meaning assigned to such term in the Indenture. 

“Indenture” means that certain Indenture, dated as of October 21, 2013, among the Issuer, the Guarantors party thereto
and Wells Fargo Bank, National Association, as trustee and as Senior Collateral Agent, as further amended, restated, amended and restated, extended, supplemented or otherwise modified from time to time. 

“Initial Second Priority Debt” means the Second Priority Debt incurred pursuant to the Initial Second Priority Debt
Documents. 
 “Initial Second Priority Debt Documents” means that certain
[                    ], dated as of [        ], 201[  ], among the Issuer, [the Guarantors
identified therein,] [                    ], as [trustee], [and
[                    ], as [,]] and any notes, security documents and other operative agreements evidencing or governing the Initial Second Priority
Debt Obligations, including any agreement entered into for the purpose of securing the Initial Second Priority Debt Obligations. 

“Initial Second Priority Debt Obligations” means the “[Secured Obligations]” as defined in the Initial Second
Priority Security Agreement. 
 “Initial Second Priority Debt Parties” means the holders of any Initial Second Priority
Debt Obligations and the Initial Second Priority Representative. 
 “Initial Second Priority Representative” has the
meaning assigned to such term in the introductory paragraph to this Agreement. 
 “Initial Second Priority Security
Agreement” means the “[Security Agreement]” as defined in the Initial Second Priority Debt Documents. 

“Insolvency or Liquidation Proceeding” means: 

(1) any case commenced by or against the Issuer or any other Grantor under any Bankruptcy Law, any other proceeding for the
reorganization, recapitalization or adjustment or marshalling of the assets or liabilities of the Issuer or any other Grantor, any receivership or assignment for the benefit of creditors relating to the Issuer or any other Grantor or any similar
case or proceeding relative to the Issuer or any other Grantor or its creditors, as such, in each case whether or not voluntary; 

  
 Ex. F-3 

 (2) any liquidation, dissolution, marshalling of assets or liabilities or other
winding up of or relating to the Issuer or any other Grantor, in each case whether or not voluntary and whether or not involving bankruptcy or insolvency; or 

(3) any other proceeding of any type or nature in which substantially all claims of creditors of the Issuer or any other
Grantor are determined and any payment or distribution is or may be made on account of such claims. 
 “Intellectual
Property” has the meaning assigned to such term in the Security Agreement. 
 “Issuer” has the meaning assigned to
such term in the introductory paragraph of this Agreement. 
 “Joinder Agreement” means a supplement to this Agreement in
substantially the form of Annex III or Annex IV hereof. 
 “Lien” means, with respect to any asset, any mortgage, lien,
pledge, charge, security interest or encumbrance of any kind in respect of such asset, whether or not filed, recorded or otherwise perfected under applicable law, including any conditional sale or other title retention agreement, any lease in the
nature thereof, any option or other agreement to sell or give a security interest in and any filing of or agreement to give any financing statement under the Uniform Commercial Code (or equivalent statutes) of any jurisdiction. 

“Major Second Priority Representative” means, with respect to any Shared Collateral, the Second Priority Representative of
the series of Second Priority Debt that (a) constitutes the largest outstanding principal amount of any then outstanding series of Second Priority Debt with respect to such Shared Collateral and (b) is larger in principal amount than the
largest outstanding principal amount of any then outstanding series of Indebtedness constituting Senior Obligations with respect to such Shared Collateral. 

“New York UCC” means the Uniform Commercial Code as from time to time in effect in the State of New York. 

“Notes” means the Issuer’s 8.5% Senior Secured Notes due 2019, issued under the Indenture in an initial principal
aggregate amount of $200,000,000. 
 “Notes Documents” means the Notes, the Indenture, the Security Agreement, the ABL
Intercreditor Agreement and the other “Notes Documents” as defined in the Indenture. 
 “Notes Obligations” means
the “Notes Obligations” as defined in the Indenture. 
 “Notes Priority Collateral” has the meaning assigned to
that term in the ABL Intercreditor Agreement. 
 “Officer’s Certificate” has the meaning provided to such term in
Section 8.08. 
 “Person” means any natural person, corporation, limited liability company, trust, joint venture,
association, company, partnership, governmental authority or other entity. 
 “Pledged or Controlled Collateral” has the
meaning assigned to such term in Section 5.05(a). 
 “Proceeds” means the proceeds of any sale, collection or other
liquidation of Shared Collateral and any payment or distribution made in respect of Shared Collateral in an Insolvency or Liquidation Proceeding and any amounts received by any Senior Representative or any Senior Secured Party from a Second Priority
Debt Party in respect of Shared Collateral pursuant to this Agreement. 
 “Recovery” has the meaning assigned to such term
in Section 6.04. 

  
 Ex. F-4 

 “Refinance” means, in respect of any indebtedness, to refinance, extend, renew,
defease, amend, increase, modify, supplement, restructure, refund, replace or repay, or to issue other indebtedness or enter into alternative financing arrangements, in exchange or replacement for such indebtedness (in whole or in part), including
by adding or replacing lenders, creditors, agents, borrowers and/or guarantors, and including in each case, but not limited to, after the original instrument giving rise to such indebtedness has been terminated and including, in each case, through
any credit agreement, indenture or other agreement. “Refinanced” and “Refinancing” have correlative meanings. 

“Representatives” means the Senior Representatives and the Second Priority Representatives. 

“Second Priority Class Debt” has the meaning assigned to such term in Section 8.09. 

“Second Priority Class Debt Parties” has the meaning assigned to such term in Section 8.09. 

“Second Priority Class Debt Representative” has the meaning assigned to such term in Section 8.09. 

“Second Priority Collateral” means any “Collateral” as defined in any Second Priority Debt Document or any other
assets of the Issuer or any other Grantor with respect to which a Lien is granted or purported to be granted pursuant to a Second Priority Collateral Document as security for any Second Priority Debt Obligation. 

“Second Priority Collateral Documents” means the Initial Second Priority Collateral Documents and each of the collateral
agreements, security agreements and other instruments and documents executed and delivered by the Issuer or any Grantor for purposes of providing collateral security for any Second Priority Debt Obligation. 

“Second Priority Debt” means any Indebtedness of the Issuer or any other Grantor guaranteed by the Guarantors (and not
guaranteed by any Subsidiary of the Issuer that is not a Guarantor), including the Initial Second Priority Debt, which Indebtedness and guarantees are secured by the Second Priority Collateral on a pari passu basis (but without regard to
control of remedies, other than as provided by the terms of the applicable Second Priority Debt Documents) with any other Second Priority Debt Obligations and the applicable Second Priority Debt Documents which provide that such Indebtedness and
guarantees are to be secured by such Second Priority Collateral on a subordinate basis to the Senior Debt Obligations (and which is not secured by Liens on any assets of the Issuer or any other Grantor other than the Second Priority Collateral or
which are not included in the Senior Collateral); provided, however, that (i) such Indebtedness is permitted to be incurred, secured and guaranteed on such basis by each Senior Debt Document and Second Priority Debt Document and
(ii) except in the case of the Initial Second Priority Debt hereunder, the Representative for the holders of such Indebtedness shall have become party to this Agreement pursuant to, and by satisfying the conditions set forth in,
Section 8.09 hereof. 
 “Second Priority Debt Documents” means, with respect to any series, issue or class of Second
Priority Debt, the promissory notes, indentures, the Second Priority Collateral Documents or other operative agreements evidencing or governing such Indebtedness, including the Initial Second Priority Debt Documents. 

“Second Priority Debt Facility” means each indenture or other governing agreement with respect to any Second Priority Debt.

 “Second Priority Debt Obligations” means, with respect to any series, issue or class of Second Priority Debt, all
amounts owing pursuant to the terms of such Second Priority Debt, including, without limitation, the obligation (including guarantee obligations) to pay principal, interest (including interest that accrues after the commencement of an Insolvency or
Liquidation Proceeding, regardless of whether such interest is an allowed claim under such Insolvency or Liquidation Proceeding), letter of credit commissions, reimbursement obligations, charges, expenses, fees, attorneys costs, indemnities and
other amounts payable by a Grantor under any Second Priority Debt Document. 

  
 Ex. F-5 

 “Second Priority Debt Parties” means the Initial Second Priority Debt Parties
and, with respect to any series, issue or class of Second Priority Debt incurred after the date hereof, the holders of such Indebtedness, the Representative with respect thereto, any trustee or agent therefor under any related Second Priority Debt
Documents and the beneficiaries of each indemnification obligation undertaken by the Issuer or any other Grantor under any related Second Priority Debt Documents. 

“Second Priority Enforcement Date” means, with respect to any Second Priority Representative, the date which is 180 days
(through which 180 day period such Second Priority Representative was the Major Second Priority Representative) after the occurrence of both (i) an Event of Default (under and as defined in the Second Priority Debt Document for which such
Second Priority Representative has been named as Representative) and (ii) the Designated Senior Representative’s and each other Representative’s receipt of written notice from such Second Priority Representative that (x) such
Second Priority Representative is the Major Second Priority Representative and that an Event of Default (under and as defined in the Second Priority Debt Document for which such Second Priority Representative has been named as Representative) has
occurred and is continuing and (y) the Second Priority Debt Obligations of the series with respect to which such Second Priority Representative is the Second Priority Representative are currently due and payable in full (whether as a result of
acceleration thereof or otherwise) in accordance with the terms of the applicable Second Priority Debt Document; provided that the Second Priority Enforcement Date shall be stayed and shall not occur and shall be deemed not to have occurred
with respect to any Shared Collateral (1) at any time the Designated Senior Representative has commenced and is diligently pursuing any enforcement action with respect to such Shared Collateral or (2) at any time the Grantor which has
granted a security interest in such Shared Collateral is then a debtor under or with respect to (or otherwise subject to ) any Insolvency or Liquidation Proceeding. 

“Second Priority Lien” means the Liens on the Second Priority Collateral in favor of Second Priority Debt Parties under
Second Priority Collateral Documents. 
 “Second Priority Majority Representatives” means Second Priority Representatives
representing at least a majority of the then aggregate amount of Second Priority Debt Obligations that agree to vote together. 

“Second Priority Representative” means (i) in the case of the Initial Second Priority Debt Obligations covered hereby,
the Initial Second Priority Representative and (ii) in the case of any Second Priority Debt Facility incurred after the date hereof, the Second Priority Debt Parties thereunder, the trustee, administrative agent, collateral agent, security
agent or similar agent under such Second Priority Debt Facility that is named as the Representative in respect of such Second Priority Debt Facility in the applicable Joinder Agreement. 

“Secured Notes Secured Parties” means the “Secured Notes Secured Parties” as defined in the Security Agreement.

 “Secured Obligations” means the Senior Obligations and the Second Priority Debt Obligations. 

“Secured Parties” means the Senior Secured Parties and the Second Priority Debt Parties. 

“Security Agreement” means the “Notes Pledge and Security Agreement” as defined in the Indenture. 

“Senior Class Debt” has the meaning assigned to such term in Section 8.09. 

“Senior Class Debt Parties” has the meaning assigned to such term in Section 8.09. 

“Senior Class Debt Representative” has the meaning assigned to such term in Section 8.09. 

“Senior Collateral” means any “Collateral” as defined in any Notes Document or any other Senior Debt Document or
any other assets of the Issuer or any other Grantor with respect to which a Lien is granted or purported to be granted pursuant to a Senior Collateral Document as security for any Senior Obligations. 

  
 Ex. F-6 

 “Senior Collateral Agent” (i) prior to the Discharge of Notes Obligations,
has the meaning assigned to such term in the introductory paragraph of this Agreement and shall include any successor Senior Collateral Agent and (ii) from and after the Discharge of Notes Obligations, means the Senior Representative designated
in writing by the holders of a majority of the then outstanding principal amount of the Additional Senior Debt Obligations to act as Senior Collateral Agent hereunder and such Senior Representative shall have become a party to this Agreement (by
executing and delivering to each other Representative a Joinder Agreement) and the other applicable Senior Collateral Documents. 

“Senior Collateral Documents” means the Security Agreement and the other “Collateral Documents” as defined in the
Indenture and each of the collateral agreements, security agreements and other instruments and documents executed and delivered by the Issuer or any other Grantor for purposes of providing collateral security for any Senior Obligation. 

“Senior Debt Documents” means (a) the Notes Documents and (b) any Additional Senior Debt Documents. 

“Senior Facilities” means the Indenture and any Additional Senior Debt Facilities. 

“Senior Lien” means the Liens on the Senior Collateral in favor of the Senior Secured Parties under the Senior Collateral
Documents. 
 “Senior Obligations” means the Notes Obligations and any Additional Senior Debt Obligations. 

“Senior Representative” means (i) in the case of any Notes Obligations or the Secured Notes Secured Parties, the Senior
Collateral Agent and (ii) in the case of any Additional Senior Debt Facility and the Additional Senior Debt Parties thereunder (including with respect to any Additional Senior Debt Facility initially covered hereby on the date of this
Agreement), the trustee, administrative agent, or similar agent under such Additional Senior Debt Facility that is named as the Representative in respect of such Additional Senior Debt Facility hereunder or in the applicable Joinder Agreement. 

“Senior Secured Parties” means the Secured Notes Secured Parties and any Additional Senior Debt Parties. 

“Shared Collateral” means, at any time, Collateral in which the holders of Senior Obligations under at least one Senior
Facility and the holders of Second Priority Debt Obligations under at least one Second Priority Debt Facility (or their Representatives) hold a security interest at such time (or, in the case of the Senior Facilities, are deemed pursuant to Article
II to hold a security interest). If, at any time, any portion of the Senior Collateral under one or more Senior Facilities does not constitute Second Priority Collateral under one or more Second Priority Debt Facilities, then such portion of such
Senior Collateral shall constitute Shared Collateral only with respect to the Second Priority Debt Facilities for which it constitutes Second Priority Collateral and shall not constitute Shared Collateral for any Second Priority Debt Facility which
does not have a security interest in such Collateral at such time. 
 “Subsidiary” of a Person means a corporation,
partnership, joint venture, limited liability company or other business entity of which a majority of the shares of securities or other interests having ordinary voting power for the election of directors or other governing body (other than
securities or interests having such power only by reason of the happening of a contingency) are at the time beneficially owned, or the management of which is otherwise controlled, directly, or indirectly through one or more intermediaries, or both,
by such Person. Unless otherwise specified, all references herein to a “Subsidiary” or to “Subsidiaries” shall refer to a Subsidiary or Subsidiaries of the Issuer. 

“Uniform Commercial Code” or “UCC” means, unless otherwise specified, the Uniform Commercial Code as from
time to time in effect in the State of New York. 

  
 Ex. F-7 

 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 “will” shall be construed to have the same meaning and effect as the word “shall.” Unless the context requires otherwise, (i) any definition of
or reference to any agreement, instrument, other document, statute or regulation herein shall be construed as referring to such agreement, instrument, other document, statute or regulation as from time to time amended, supplemented or otherwise
modified, (ii) any reference herein to any Person shall be construed to include such Person’s successors and assigns, but shall not be deemed to include the Subsidiaries of such Person unless express reference is made to such Subsidiaries,
(iii) 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, (iv) all references
herein to Articles, Sections and Annexes shall be construed to refer to Articles, Sections and Annexes of this Agreement, (v) unless otherwise expressly qualified herein, 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 and (vi) the term “or” is not exclusive. 

ARTICLE II 
 Priorities and
Agreements with Respect to Shared Collateral 
 SECTION 2.01. Subordination. 

(a) Notwithstanding the date, time, manner or order of filing or recordation of any document or instrument or grant, attachment or perfection
of any Liens granted to any Second Priority Representative or any Second Priority Debt Parties on the Shared Collateral or of any Liens granted to any Senior Representative or any other Senior Secured Party on the Shared Collateral (or any actual or
alleged defect in any of the foregoing) and notwithstanding any provision of the UCC, any applicable law, any Second Priority Debt Document or any Senior Debt Document or any other circumstance whatsoever, each Second Priority Representative, on
behalf of itself and each Second Priority Debt Party under its Second Priority Debt Facility, hereby agrees that (a) any Lien on the Shared Collateral securing any Senior Obligations now or hereafter held by or on behalf of any Senior
Representative or any other Senior Secured Party or other agent or trustee therefor, regardless of how acquired, whether by grant, statute, operation of law, subrogation or otherwise, shall have priority over and be senior in all respects and prior
to any Lien on the Shared Collateral securing any Second Priority Debt Obligations and (b) any Lien on the Shared Collateral securing any Second Priority Debt Obligations now or hereafter held by or on behalf of any Second Priority
Representative, any Second Priority Debt Parties or any Second Priority Representative or other agent or trustee therefor, regardless of how acquired, whether by grant, statute, operation of law, subrogation or otherwise, shall be junior and
subordinate in all respects to all Liens on the Shared Collateral securing any Senior Obligations. All Liens on the Shared Collateral securing any Senior Obligations shall be and remain senior in all respects and prior to all Liens on the Shared
Collateral securing any Second Priority Debt Obligations for all purposes, whether or not such Liens securing any Senior Obligations are subordinated to any Lien securing any other obligation of the Issuer, any Grantor or any other Person or
otherwise subordinated, voided, avoided, invalidated or lapsed. 
 SECTION 2.02. Nature of Senior Lender Claims. Each Second Priority
Representative, on behalf of itself and each Second Priority Debt Party under its Second Priority Debt Facility, acknowledges that (a) the terms of the Senior Debt Documents and the Senior Obligations may be amended, supplemented or otherwise
modified, and the Senior Obligations, or a portion thereof, may be Refinanced from time to time and (b) the aggregate amount of the Senior Obligations may be increased, in each case, without notice to or consent by the Second Priority
Representatives or the Second Priority Debt Parties and without affecting the provisions hereof. The Lien priorities provided for in Section 2.01 shall not be altered or otherwise affected by any amendment, supplement or other modification, or
any Refinancing, of either the Senior Obligations or the Second Priority Debt Obligations, or any portion thereof. As between the Issuer and the other Grantors and the Second Priority Debt Parties, the foregoing provisions will not limit or
otherwise affect the obligations of the Issuer and the Grantors contained in any Second Priority Debt Document with respect to the incurrence of additional Senior Obligations. 

SECTION 2.03. Prohibition on Contesting Liens. Each of the Second Priority Representatives, for itself and on behalf of each Second
Priority Debt Party under its Second Priority Debt Facility, agrees that 

  
 Ex. F-8 

 
it shall not (and hereby waives any right to) contest or support any other Person in contesting, in any proceeding (including any Insolvency or Liquidation Proceeding), the validity, extent,
perfection, priority or enforceability of any Lien securing any Senior Obligations held (or purported to be held) by or on behalf of any Senior Representative or any of the other Senior Secured Parties or other agent or trustee therefor in any
Senior Collateral, and the each Senior Representative, for itself and on behalf of each Senior Secured Party under its Senior Facility, agrees that it shall not (and hereby waives any right to) contest or support any other Person in contesting, in
any proceeding (including any Insolvency or Liquidation Proceeding), the validity, extent, perfection, priority or enforceability of any Lien securing any Second Priority Debt Obligations held (or purported to be held) by or on behalf of any of any
Second Priority Representative or any of the Second Priority Debt Parties in the Second Priority Collateral. Notwithstanding the foregoing, no provision in this Agreement shall be construed to prevent or impair the rights of any Senior
Representative to enforce this Agreement (including the priority of the Liens securing the Senior Obligations as provided in Section 2.01) or any of the Senior Debt Documents. 

SECTION 2.04. No New Liens. The parties hereto agree that, so long as the Discharge of Senior Obligations has not occurred,
(a) none of the Grantors shall, or shall permit any of its Subsidiaries to, grant or permit any Liens on any asset or property of any Grantor to secure any Second Priority Debt Obligation unless it has granted, or concurrently therewith grants,
a Lien on such asset or property of such Grantor to secure the Senior Obligations; and (b) if any Second Priority Representative or any Second Priority Debt Party shall hold any Lien on any assets or property of any Grantor securing any Second
Priority Obligations that are not also subject to the first-priority Liens securing all Senior Obligations under the Senior Collateral Documents, such Second Priority Representative or Second Priority Debt Party (i) shall notify the Designated
Senior Representative promptly upon becoming aware thereof and, unless such Grantor shall promptly grant a similar Lien on such assets or property to each Senior Representative as security for the Senior Obligations, shall assign such Lien to the
Designated Senior Representative as security for all Senior Obligations for the benefit of the Senior Secured Parties (but may retain a junior lien on such assets or property subject to the terms hereof) and (ii) until such assignment or such
grant of a similar Lien to each Senior Representative, shall be deemed to hold and have held such Lien for the benefit of each Senior Representative and the other Senior Secured Parties as security for the Senior Obligations. To the extent that the
provisions of the immediately preceding sentence are not complied with for any reason, without limiting any other right or remedy available to any Senior Representative or any other Senior Secured Party, each Second Priority Representative agrees,
for itself and on behalf of the other Second Priority Debt Parties, that any amounts received by or distributed to any Second Priority Debt Party pursuant to or as a result of any Lien granted in contravention of this Section 2.04 shall be
subject to Sections 4.01 and 4.02. 
 SECTION 2.05. Perfection of Liens. Except for the limited agreements of the Senior
Representatives pursuant to Section 5.05 hereof, none of the Senior Representatives or the Senior Secured Parties shall be responsible for perfecting and maintaining the perfection of Liens with respect to the Shared Collateral for the benefit
of the Second Priority Representatives or the Second Priority Debt Parties. The provisions of this Agreement are intended solely to govern the respective Lien priorities as between the Senior Secured Parties and the Second Priority Debt Parties and
shall not impose on the Senior Representatives, the Senior Secured Parties, the Second Priority Representatives, the Second Priority Debt Parties or any agent or trustee therefor any obligations in respect of the disposition of Proceeds of any
Shared Collateral which would conflict with prior perfected claims therein in favor of any other Person or any order or decree of any court or governmental authority or any applicable law. 

SECTION 2.06. Similar Liens and Agreements. The parties hereto agree that it is their intention that the Senior Collateral and the
Second Priority Collateral be identical. In furtherance of the foregoing and of Section 8.13, the parties hereto agree, subject to the other provisions of this Agreement: 

(a) upon request by the Designated Senior Representative or the Designated Second Priority Representative, to cooperate in good
faith (and to direct their counsel to cooperate in good faith) from time to time in order to determine the specific items included in the Senior Collateral and the Second Priority Collateral and the steps taken to perfect their respective Liens
thereon and the identity of the respective parties obligated under the Senior Debt Documents and the Second Priority Debt Documents; and 

(b) that the documents and agreements creating or evidencing the Senior Collateral and the Second Priority Collateral and guarantees for the
Senior Obligations and the Second Priority Debt Obligations shall be in all material respects the same forms of documents other than with respect to the senior and subordinate nature of the security interests in the Collateral securing the
respective Obligations thereunder. 

  
 Ex. F-9 

 ARTICLE III 

Enforcement 
 SECTION
3.01. Exercise of Remedies. 
 (a) So long as the Discharge of Senior Obligations has not occurred, whether or not any Insolvency or
Liquidation Proceeding has been commenced by or against the Issuer or any other Grantor, (i) neither any Second Priority Representative nor any Second Priority Debt Party will (x) exercise or seek to exercise any rights or remedies
(including setoff) with respect to any Shared Collateral in respect of any Second Priority Debt Obligations, or institute any action or proceeding with respect to such rights or remedies (including any action of foreclosure), (y) contest,
protest or object to any foreclosure proceeding or action brought with respect to the Shared Collateral or any other Senior Collateral by any Senior Representative or any Senior Secured Party in respect of the Senior Obligations, the exercise of any
right by any Senior Representative or any Senior Secured Party (or any agent or sub-agent on their behalf) in respect of the Senior Obligations under any lockbox agreement, control agreement, landlord waiver or bailee’s letter or similar
agreement or arrangement to which any Senior Representative or any Senior Secured Party either is a party or may have rights as a third party beneficiary, or any other exercise by any such party of any rights and remedies relating to the Shared
Collateral under the Senior Debt Documents or otherwise in respect of the Senior Collateral or the Senior Obligations, or (z) object to the forbearance by the Senior Secured Parties from bringing or pursuing any foreclosure proceeding or action
or any other exercise of any rights or remedies relating to the Shared Collateral in respect of Senior Obligations and (ii) the Senior Representatives and the Senior Secured Parties shall have the exclusive right to enforce rights, exercise
remedies (including setoff and the right to credit bid their debt) and make determinations regarding the release, disposition or restrictions with respect to the Shared Collateral without any consultation with or the consent of any Second Priority
Representative or any Second Priority Debt Party; provided, however, that (A) in any Insolvency or Liquidation Proceeding commenced by or against the Issuer or any other Grantor, any Second Priority Representative may file a claim
or statement of interest with respect to the Second Priority Debt Obligations under its Second Priority Debt Facility, (B) any Second Priority Representative may take any action (not adverse to the prior Liens on the Shared Collateral securing
the Senior Obligations or the rights of the Senior Representatives or the Senior Secured Parties to exercise remedies in respect thereof) in order to create, prove, perfect, preserve or protect (but not enforce) its rights in, and perfection and
priority of its Lien on, the Shared Collateral, (C) any Second Priority Representative and the Second Priority Secured Parties may exercise their rights and remedies as unsecured creditors, to the extent provided in Section 5.04 and
(D) from and after the Second Priority Enforcement Date, the Major Second Priority Representative may exercise or seek to exercise any rights or remedies (including setoff) with respect to any Shared Collateral in respect of any Second Priority
Debt Obligations, or institute any action or proceeding with respect to such rights or remedies (including any action of foreclosure) (in each case of (A) through (D) above, solely to the extent such action is not inconsistent with, or
could not result in a resolution inconsistent with, the terms of this Agreement), but only so long as (1) the Designated Senior Representative has not commenced and is not diligently pursuing any enforcement action with respect to such Shared
Collateral and (2) the Grantor which has granted a security interest in such Shared Collateral is not then a debtor under or with respect to (or otherwise subject to ) any Insolvency or Liquidation Proceeding. In exercising rights and remedies
with respect to the Senior Collateral, the Senior Representatives and the Senior Secured Parties may enforce the provisions of the Senior Debt Documents and exercise remedies thereunder, all in such order and in such manner as they may determine in
the exercise of their sole discretion. Such exercise and enforcement shall include the rights of an agent appointed by them to sell or otherwise dispose of Shared Collateral upon foreclosure, to incur expenses in connection with such sale or
disposition and to exercise all the rights and remedies of a secured lender under the Uniform Commercial Code of any applicable jurisdiction and of a secured creditor under Bankruptcy Laws of any applicable jurisdiction. 

(b) So long as the Discharge of Senior Obligations has not occurred, each Second Priority Representative, on behalf of itself and each Second
Priority Debt Party under its Second Priority Debt Facility, agrees that it will not, in the context of its role as secured creditor, take or receive any Shared Collateral or any Proceeds of Shared Collateral in connection with the exercise of any
right or remedy (including setoff) with respect to any Shared Collateral in respect of Second Priority Debt Obligations. Without limiting the generality of the foregoing, 

  
 Ex. F-10 

 
unless and until the Discharge of Senior Obligations has occurred, except as expressly provided in the proviso in clause (ii) of Section 3.01(a), the sole right of the Second Priority
Representatives and the Second Priority Debt Parties with respect to the Shared Collateral is to hold a Lien on the Shared Collateral in respect of Second Priority Debt Obligations pursuant to the Second Priority Debt Documents for the period and to
the extent granted therein and to receive a share of the Proceeds thereof, if any, after the Discharge of Senior Obligations has occurred. 

(c) Subject to the proviso in clause (ii) of Section 3.01(a), (i) each Second Priority Representative, for itself and on behalf
of each Second Priority Debt Party under its Second Priority Debt Facility, agrees that neither such Second Priority Representative nor any such Second Priority Debt Party will take any action that would hinder any exercise of remedies undertaken by
any Senior Representative or any Senior Secured Party with respect to the Shared Collateral under the Senior Debt Documents, including any sale, lease, exchange, transfer or other disposition of the Shared Collateral, whether by foreclosure or
otherwise, and (ii) each Second Priority Representative, for itself and on behalf of each Second Priority Debt Party under its Second Priority Debt Facility, hereby waives any and all rights it or any such Second Priority Debt Party may have as
a junior lien creditor or otherwise to object to the manner in which the Senior Representatives or the Senior Secured Parties seek to enforce or collect the Senior Obligations or the Liens granted on any of the Senior Collateral, regardless of
whether any action or failure to act by or on behalf of any Senior Representative or any other Senior Secured Party is adverse to the interests of the Second Priority Debt Parties. 

(d) Each Second Priority Representative hereby acknowledges and agrees that no covenant, agreement or restriction contained in any Second
Priority Debt Document shall be deemed to restrict in any way the rights and remedies of the Senior Representatives or the Senior Secured Parties with respect to the Senior Collateral as set forth in this Agreement and the Senior Debt Documents.

 (e) Until the Discharge of Senior Obligations, the Designated Senior Representative shall have the exclusive right to exercise any right
or remedy with respect to the Shared Collateral and shall have the exclusive right to determine and direct the time, method and place for exercising such right or remedy or conducting any proceeding with respect thereto. Following the Discharge of
Senior Obligations, the Designated Second Priority Representative who may be instructed by the Second Priority Majority Representatives shall have the exclusive right to exercise any right or remedy with respect to the Collateral, and the Designated
Second Priority Representative who may be instructed by the Second Priority Majority Representatives shall have the exclusive right to direct the time, method and place of exercising or conducting any proceeding for the exercise of any right or
remedy available to the Second Priority Debt Parties with respect to the Collateral, or of exercising or directing the exercise of any trust or power conferred on the Second Priority Representatives, or for the taking of any other action authorized
by the Second Priority Collateral Documents; provided, however, that nothing in this Section 3.01(e) shall impair the right of any Second Priority Representative or other agent or trustee acting on behalf of the Second Priority
Debt Parties to take such actions with respect to the Collateral after the Discharge of Senior Obligations as may be otherwise required or authorized pursuant to any intercreditor agreement governing the Second Priority Debt Parties or the Second
Priority Debt Obligations. 
 SECTION 3.02. Cooperation. Subject to the proviso in clause (ii) of Section 3.01(a), each
Second Priority Representative, on behalf of itself and each Second Priority Debt Party under its Second Priority Debt Facility, agrees that, unless and until the Discharge of Senior Obligations has occurred, it will not commence, or join with any
Person (other than the Senior Secured Parties and the Senior Representatives upon the request of the Designated Senior Representative) in commencing, any enforcement, collection, execution, levy or foreclosure action or proceeding with respect to
any Lien held by it in the Shared Collateral under any of the Second Priority Debt Documents or otherwise in respect of the Second Priority Debt Obligations. 

SECTION 3.03. Actions upon Breach. Should any Second Priority Representative or any Second Priority Debt Party, contrary to this
Agreement, in any way take, attempt to take or threaten to take any action with respect to the Shared Collateral (including any attempt to realize upon or enforce any remedy with respect to this Agreement) or fail to take any action required by this
Agreement, any Senior Representative or other Senior Secured Party (in its or their own name or in the name of the Issuer or any other Grantor) or the Issuer may obtain relief against such Second Priority Representative or such Second Priority Debt
Party by injunction, specific performance or other appropriate equitable relief. Each Second Priority Representative, on behalf of itself and each Second Priority Debt Party under its Second Priority Debt Facility, hereby (i) agrees that the
Senior Secured Parties’ 

  
 Ex. F-11 

 
damages from the actions of the Second Priority Representatives or any Second Priority Debt Party may at that time be difficult to ascertain and may be irreparable and waives any defense that the
Issuer, any other Grantor or the Senior Secured Parties cannot demonstrate damage or be made whole by the awarding of damages and (ii) irrevocably waives any defense based on the adequacy of a remedy at law and any other defense that might be
asserted to bar the remedy of specific performance in any action that may be brought by any Senior Representative or any other Senior Secured Party. 

ARTICLE IV 
 Payments 

SECTION 4.01. Application of Proceeds. So long as the Discharge of Senior Obligations has not occurred, and regardless of whether an
Insolvency or Liquidation Proceeding has been commenced, the Shared Collateral or Proceeds thereof received in connection with the sale or other disposition of, or collection on, such Shared Collateral upon the exercise of remedies shall be applied
by the Designated Senior Representative to the Senior Obligations in such order as specified in the relevant Senior Debt Documents (including the ABL Intercreditor Agreement) until the Discharge of Senior Obligations has occurred. Upon the Discharge
of Senior Obligations, each applicable Senior Representative shall deliver promptly to the Designated Second Priority Representative any Shared Collateral or Proceeds thereof held by it in the same form as received, with any necessary endorsements,
or as a court of competent jurisdiction may otherwise direct, to be applied by the Designated Second Priority Representative to the Second Priority Debt Obligations in such order as specified in the relevant Second Priority Debt Documents. 

SECTION 4.02. Payments Over. Unless and until the Discharge of Senior Obligations has occurred, and regardless of whether an Insolvency
or Liquidation Proceeding has been commenced, any Shared Collateral or Proceeds thereof received by any Second Priority Representative or any Second Priority Debt Party in connection with the exercise of any right or remedy (including setoff)
relating to the Shared Collateral, in contravention of this Agreement or otherwise, shall be segregated and held in trust for the benefit of and forthwith paid over to the Designated Senior Representative for the benefit of the Senior Secured
Parties in the same form as received, with any necessary endorsements, or as a court of competent jurisdiction may otherwise direct. The Designated Senior Representative is hereby authorized to make any such endorsements as agent for each of the
Second Priority Representatives or any such Second Priority Debt Party. This authorization is coupled with an interest and is irrevocable. 

ARTICLE V 
 Other Agreements

 SECTION 5.01. Releases. 

(a) Each Second Priority Representative, for itself and on behalf of each Second Priority Debt Party under its Second Priority Debt Facility,
agrees that, in the event of a sale, transfer or other disposition of any specified item of Shared Collateral (including all or substantially all of the equity interests of any subsidiary of the Issuer), the Liens granted to the Second Priority
Representatives and the Second Priority Debt Parties upon such Shared Collateral to secure Second Priority Debt Obligations shall terminate and be released, automatically and without any further action, concurrently with the termination and release
of all Liens granted upon such Shared Collateral to secure Senior Obligations; provided, however, that, such release will not occur without the consent of the Second Priority Representative in the case of any such sale, transfer or
other disposition of Shared Collateral that occurs in connection with the exercise of any rights or remedies by any Senior Secured Party with respect to such Shared Collateral in respect of any Senior Obligations to the extent the Proceeds of such
Shared Collateral are not applied to reduce Senior Obligations in accordance with Section 4.01. Upon delivery to a Second Priority Representative of an Officer’s Certificate stating that any such termination and release of Liens securing
the Senior Obligations has become effective (or shall become effective concurrently with such termination and release of the Liens granted to the Second Priority Debt Parties and the Second Priority Representatives) and any necessary or proper
instruments of termination or release prepared by the Issuer or any other Grantor, such Second Priority Representative will promptly execute, deliver or acknowledge, at the Issuer’s or the other Grantor’s sole cost and expense, such
instruments to evidence such termination and release of the Liens. Nothing in this Section 5.01(a) will be deemed to 

  
 Ex. F-12 

 
affect any agreement of a Second Priority Representative, for itself and on behalf of the Second Priority Debt Parties under its Second Priority Debt Facility, to release the Liens on the Second
Priority Collateral as set forth in the relevant Second Priority Debt Documents. 
 (b) Each Second Priority Representative, for itself and
on behalf of each Second Priority Debt Party under its Second Priority Debt Facility, hereby irrevocably constitutes and appoints the Designated Senior Representative and any officer or agent of the Designated Senior Representative, with full power
of substitution, as its true and lawful attorney-in-fact with full irrevocable power and authority in the place and stead of such Second Priority Representative or such Second Priority Debt Party or in the Designated Senior Representative’s own
name, from time to time in the Designated Senior Representative’s discretion, for the purpose of carrying out the terms of Section 5.01(a), to take any and all appropriate action and to execute any and all documents and instruments that
may be necessary or desirable to accomplish the purposes of Section 5.01(a), including any termination statements, endorsements or other instruments of transfer or release. 

(c) Unless and until the Discharge of Senior Obligations has occurred, each Second Priority Representative, for itself and on behalf of each
Second Priority Debt Party under its Second Priority Debt Facility, hereby consents to the application, whether prior to or after an event of default under any Senior Debt Document of proceeds of Shared Collateral to the repayment of Senior
Obligations pursuant to the Senior Debt Documents, provided that nothing in this Section 5.01(c) shall be construed to prevent or impair the rights of the Second Priority Representatives or the Second Priority Debt Parties to receive
proceeds in connection with the Second Priority Debt Obligations not otherwise in contravention of this Agreement. 
 (d) Notwithstanding
anything to the contrary in any Second Priority Collateral Document, in the event the terms of a Senior Collateral Document and a Second Priority Collateral Document each require any Grantor (i) to make payment in respect of any item of Shared
Collateral, (ii) to deliver or afford control over any item of Shared Collateral to, or deposit any item of Shared Collateral with, (iii) to register ownership of any item of Shared Collateral in the name of or make an assignment of
ownership of any Shared Collateral or the rights thereunder to, (iv) cause any securities intermediary, commodity intermediary or other Person acting in a similar capacity to agree to comply, in respect of any item of Shared Collateral, with
instructions or orders from, or to treat, in respect of any item of Shared Collateral, as the entitlement holder, (v) hold any item of Shared Collateral in trust for (to the extent such item of Shared Collateral cannot be held in trust for
multiple parties under applicable law), (vi) obtain the agreement of a bailee or other third party to hold any item of Shared Collateral for the benefit of or subject to the control of or, in respect of any item of Shared Collateral, to follow
the instructions of or (vii) obtain the agreement of a landlord with respect to access to leased premises where any item of Shared Collateral is located or waivers or subordination of rights with respect to any item of Shared Collateral in
favor of, in any case, both the Designated Senior Representative and any Second Priority Representative or Second Priority Debt Party, such Grantor may, until the applicable Discharge of Senior Obligations has occurred, comply with such requirement
under the Second Priority Collateral Document as it relates to such Shared Collateral by taking any of the actions set forth above only with respect to, or in favor of, the Designated Senior Representative. 

SECTION 5.02. Insurance and Condemnation Awards. Unless and until the Discharge of Senior Obligations has occurred, the Designated
Senior Representative and the Senior Secured Parties shall have the sole and exclusive right, subject to the rights of the Grantors under the Senior Debt Documents, (a) to be named as additional insured and loss payee under any insurance
policies maintained from time to time by any Grantor, (b) to adjust settlement for any insurance policy covering the Shared Collateral in the event of any loss thereunder and (c) to approve any award granted in any condemnation or similar
proceeding affecting the Shared Collateral. Unless and until the Discharge of Senior Obligations has occurred, all proceeds of any such policy and any such award, if in respect of the Shared Collateral, shall be paid (i) first, prior to the
occurrence of the Discharge of Senior Obligations, to the Designated Senior Representative for the benefit of Senior Secured Parties pursuant to the terms of the Senior Debt Documents, (ii) second, after the occurrence of the Discharge of
Senior Obligations, to the Designated Second Priority Representative for the benefit of the Second Priority Debt Parties pursuant to the terms of the applicable Second Priority Debt Documents and (iii) third, if no Second Priority Debt
Obligations are outstanding, to the owner of the subject property, such other Person as may be entitled thereto or as a court of competent jurisdiction may otherwise direct. If any Second Priority Representative or any Second Priority Debt Party
shall, at any time, receive any proceeds of any such insurance policy or any such award in contravention of this Agreement, it shall pay such proceeds over to the Designated Senior Representative in accordance with the terms of Section 4.02.

  
 Ex. F-13 

 SECTION 5.03. Amendments to Second Priority Collateral and Debt Documents. 

(a) No Second Priority Collateral Document may be amended, supplemented or otherwise modified or entered into to the extent such amendment,
supplement or modification, or the terms of any new Second Priority Collateral Document, would be prohibited by any of the terms of this Agreement. The Issuer agrees to deliver to the Designated Senior Representative copies of (i) any
amendments, supplements or other modifications to the Second Priority Collateral Documents or Second Priority Debt Documents and (ii) any new Second Priority Collateral Documents or Second Priority Debt Documents promptly after effectiveness
thereof. Each Second Priority Representative, for itself and on behalf of each Second Priority Debt Party under its Second Priority Debt Facility, agrees that each Second Priority Collateral Document under its Second Priority Debt Facility shall
include the following language (or language to similar effect reasonably approved by the Designated Senior Representative): 

“Notwithstanding anything herein to the contrary, (i) the liens and security interests granted to the [Second Priority
Representative] pursuant to this Agreement are expressly subject and subordinate to the liens and security interests granted in favor of the Senior Secured Parties (as defined in the Intercreditor Agreement referred to below), including liens and
security interests granted to Wells Fargo Bank, National Association, as notes collateral agent, pursuant to or in connection with the Indenture, dated as of October 21, 2013, among the Issuer, the Guarantors party thereto and Wells Fargo Bank,
National Association, as trustee and as notes collateral agent, as further amended, restated, amended and restated, extended, supplemented or otherwise modified from time to time and (ii) the exercise of any right or remedy by the [Second
Priority Representative] hereunder is subject to the limitations and provisions of the Junior Lien Intercreditor Agreement dated as of [            ], 201[  ] (as amended,
restated, supplemented or otherwise modified from time to time, the “Intercreditor Agreement”), among Wells Fargo Bank, National Association, as Senior Collateral Agent,
[                    ], Allied Specialty Vehicles, Inc., as the Issuer, and the Guarantors party thereto. In the event of any conflict between the
terms of the Intercreditor Agreement and the terms of this Agreement, the terms of the Intercreditor Agreement shall govern.” 
 (b) In
the event that each applicable Senior Representative and/or the Senior Secured Parties enter into any amendment, waiver or consent in respect of any of the Senior Collateral Documents for the purpose of adding to or deleting from, or waiving or
consenting to any departures from any provisions of, any Senior Collateral Document or changing in any manner the rights of the Senior Representatives, the Senior Secured Parties, the Issuer or any other Grantor thereunder (including the release of
any Liens in Senior Collateral) in a manner that is applicable to all Senior Facilities, then such amendment, waiver or consent shall apply automatically to any comparable provision of each comparable Second Priority Collateral Document without the
consent of any Second Priority Representative or any Second Priority Debt Party and without any action by any Second Priority Representative, the Issuer or any other Grantor; provided, however, that written notice of such amendment,
waiver or consent shall have been given to each Second Priority Representative within 10 Business Days after the effectiveness of such amendment, waiver or consent. 

(c) Without the prior written consent of the Senior Representatives, no Second Priority Debt Document may be amended, restated, amended and
restated, supplemented, extended, renewed, replaced, restructured, or otherwise modified, or entered into, and no Indebtedness under the Second Priority Debt Documents may be Refinanced, to the extent such amendment, restatement, supplement or
modification or Refinancing, or the terms of such new Second Priority Debt Document, would (i) contravene the provisions of this Agreement or (ii) change to earlier dates any scheduled dates for payment of principal (including the final
maturity date) or interest on Indebtedness under such Second Priority Debt Document. 
 SECTION 5.04. Rights as Unsecured Creditors.
Notwithstanding anything to the contrary in this Agreement, the Second Priority Representatives and the Second Priority Debt Parties may exercise rights and remedies as unsecured creditors against the Issuer and any other Grantor in accordance with
the terms of the Second Priority Debt Documents and applicable law so long as such rights and remedies do not violate or are not inconsistent with any express provision of this Agreement. Nothing in this Agreement shall prohibit the receipt by any
Second Priority Representative or any Second Priority Debt Party of the required payments of principal, premium, interest, fees and other amounts due under the Second Priority Debt Documents so long as such receipt is not the direct or indirect
result of the exercise by a Second Priority Representative or any Second Priority Debt Party of 

  
 Ex. F-14 

 
rights or remedies as a secured creditor in respect of Shared Collateral. In the event any Second Priority Representative or any Second Priority Debt Party becomes a judgment lien creditor in
respect of Shared Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt Obligations, such judgment lien shall be subordinated to the Liens securing Senior Obligations on the same basis as
the other Liens securing the Second Priority Debt Obligations are so subordinated to such Liens securing Senior Obligations under this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior
Representatives or the Senior Secured Parties may have with respect to the Senior Collateral. 
 SECTION 5.05. Gratuitous Bailee for
Perfection. 
 (a) Each Senior Representative acknowledges and agrees that if it shall at any time hold a Lien securing any Senior
Obligations on any Shared Collateral that can be perfected by the possession or control of such Shared Collateral or of any account in which such Shared Collateral is held, and if such Shared Collateral or any such account is in fact in the
possession or under the control of such Senior Representative, or of agents or bailees of such Person (such Shared Collateral being referred to herein as the “Pledged or Controlled Collateral”), or if it shall any time obtain any
landlord waiver or bailee’s letter or any similar agreement or arrangement granting it rights or access to Shared Collateral, the applicable Senior Representative shall also hold such Pledged or Controlled Collateral, or take such actions with
respect to such landlord waiver, bailee’s letter or similar agreement or arrangement, as sub-agent or gratuitous bailee for the relevant Second Priority Representatives, in each case solely for the purpose of perfecting the Liens granted under
the relevant Second Priority Collateral Documents and subject to the terms and conditions of this Section 5.05. 
 (b) In the event
that any Senior Representative (or its agents or bailees) has Lien filings against Intellectual Property that is part of the Shared Collateral that are necessary for the perfection of Liens in such Shared Collateral, such Senior Representative
agrees to hold such Liens as sub-agent and gratuitous bailee for the relevant Second Priority Representatives and any assignee thereof, solely for the purpose of perfecting the security interest granted in such Liens pursuant to the relevant Second
Priority Collateral Documents, subject to the terms and conditions of this Section 5.05. 
 (c) Except as otherwise specifically
provided herein, until the Discharge of Senior Obligations has occurred, the Senior Representatives and the Senior Secured Parties shall be entitled to deal with the Pledged or Controlled Collateral in accordance with the terms of the Senior Debt
Documents as if the Liens under the Second Priority Collateral Documents did not exist. The rights of the Second Priority Representatives and the Second Priority Debt Parties with respect to the Pledged or Controlled Collateral shall at all times be
subject to the terms of this Agreement. 
 (d) The Senior Representatives and the Senior Secured Parties shall have no obligation whatsoever
to the Second Priority Representatives or any Second Priority Debt Party to assure that any of the Pledged or Controlled Collateral is genuine or owned by the Grantors or to protect or preserve rights or benefits of any Person or any rights
pertaining to the Shared Collateral, except as expressly set forth in this Section 5.05. The duties or responsibilities of the Senior Representatives under this Section 5.05 shall be limited solely to holding or controlling the Shared
Collateral and the related Liens referred to in paragraphs (a) and (b) of this Section 5.05 as sub-agent and gratuitous bailee for the relevant Second Priority Representative for purposes of perfecting the Lien held by such Second
Priority Representative. 
 (e) The Senior Representatives shall not have by reason of the Second Priority Collateral Documents or this
Agreement, or any other document, a fiduciary relationship in respect of any Second Priority Representative or any Second Priority Debt Party, and each, Second Priority Representative, for itself and on behalf of each Second Priority Debt Party
under its Second Priority Debt Facility, hereby waives and releases the Senior Representatives from all claims and liabilities arising pursuant to the Senior Representatives’ roles under this Section 5.05 as sub-agents and gratuitous bailees
with respect to the Shared Collateral. 
 (f) Upon the Discharge of Senior Obligations, each applicable Senior Representative shall, at the
Grantors’ sole cost and expense, (i) (A) deliver to the Designated Second Priority Representative, to the extent that it is legally permitted to do so, all Shared Collateral, including all proceeds thereof, held or controlled by such
Senior Representative or any of its agents or bailees, including the transfer of possession and control, as applicable, 

  
 Ex. F-15 

 
of the Pledged or Controlled Collateral, together with any necessary endorsements and notices to depositary banks, securities intermediaries and commodities intermediaries, and assign its rights
under any landlord waiver or bailee’s letter or any similar agreement or arrangement granting it rights or access to Shared Collateral, or (B) direct and deliver such Shared Collateral as a court of competent jurisdiction may otherwise
direct and (ii) notify any applicable insurance carrier that it is no longer entitled to be a loss payee or additional insured under the insurance policies of any Grantor issued by such insurance carrier. The Issuer and the other Grantors shall
take such further action as is required to effectuate the transfer contemplated hereby and shall indemnify each Senior Representative for loss or damage suffered by such Senior Representative as a result of such transfer, except for loss or damage
suffered by any such Person as a result of its own willful misconduct, gross negligence or bad faith. The Senior Representatives have no obligations to follow instructions from any Second Priority Representative or any other Second Priority Debt
Party in contravention of this Agreement. 
 (g) None of the Senior Representatives nor any of the other Senior Secured Parties shall be
required to marshal any present or future collateral security for any obligations of the Issuer or any of its Subsidiaries to any Senior Representative or any Senior Secured Party under the Senior Debt Documents or any assurance of payment in
respect thereof, or to resort to such collateral security or other assurances of payment in any particular order, and all of their rights in respect of such collateral security or any assurance of payment in respect thereof shall be cumulative and
in addition to all other rights, however existing or arising. 
 SECTION 5.06. When Discharge of Senior Obligations Deemed To Not Have
Occurred. If, at any time concurrently with or after the Discharge of Senior Obligations has occurred, the Issuer or any of its Subsidiaries enters into any Refinancing of or incurs any Senior Obligations, then such Discharge of Senior
Obligations shall automatically be deemed not to have occurred for all purposes of this Agreement (other than with respect to any actions taken prior to the date of such designation as a result of the occurrence of such first Discharge of Senior
Obligations) and the applicable agreement governing such Senior Obligations shall automatically be treated as a Senior Debt Document for all purposes of this Agreement, including for purposes of the Lien priorities and rights in respect of Shared
Collateral set forth herein and the agent, representative or trustee for the holders of such Senior Obligations shall be the Senior Representative for all purposes of this Agreement. Upon receipt of notice of such incurrence (including the identity
of the new Senior Representative), each Second Priority Representative (including the Designated Second Priority Representative) shall promptly (a) enter into such documents and agreements (at the expense of the Issuer), including amendments or
supplements to this Agreement, as the Issuer or such new Senior Representative shall reasonably request in writing in order to provide the new Senior Representative the rights of a Senior Representative contemplated hereby, (b) deliver to such
Senior Representative, to the extent that it is legally permitted to do so, all Shared Collateral, including all proceeds thereof, held or controlled by such Second Priority Representative or any of its agents or bailees, including the transfer of
possession and control, as applicable, of the Pledged or Controlled Collateral, together with any necessary endorsements and notices to depositary banks, securities intermediaries and commodities intermediaries, and assign its rights under any
landlord waiver or bailee’s letter or any similar agreement or arrangement granting it rights or access to Shared Collateral, (c) notify any applicable insurance carrier that it is no longer entitled to be a loss payee or additional
insured under the insurance policies of any Grantor issued by such insurance carrier and (d) notify any governmental authority involved in any condemnation or similar proceeding involving a Grantor that the new Senior Representative is entitled
to approve any awards granted in such proceeding. Purchase Right Without prejudice to the enforcement of the Senior Secured Parties remedies, the Senior Secured Parties agree that following (a) acceleration of the Senior Obligations in
accordance with the terms of the Indenture, (b) a payment default under the Indenture that has not been cured or waived by the Senior Secured Parties within thirty (30) days of the occurrence thereof or (c) the commencement of an
Insolvency Proceeding (each, a “Purchase Event”), within thirty (30) days of the Purchase Event, one or more of the Second Priority Debt Parties may request, and the Senior Secured Parties hereby offer the Second Priority Debt
Parties the option, to purchase all, but not less than all, of the aggregate amount of outstanding Senior Obligations outstanding at the time of purchase at par, plus any premium that would be applicable upon prepayment of the Senior Obligations and
accrued and unpaid interest and fees, without warranty or representation or recourse. If such right is exercised, the parties shall endeavor to close promptly thereafter but in any event within ten (10) Business Days of the request. If one or
more of the Second Priority Debt Parties exercise such purchase right, it shall be exercised pursuant to documentation mutually acceptable to each of the Senior Representative and the Second Priority Representative. If none of the Second Priority
Debt Parties exercise such right, the Senior Secured Parties shall have no further obligations pursuant to this Section 5.07 for such Purchase Event and may take any further actions in their sole discretion in accordance with the Senior Debt
Documents and this Agreement. 

  
 Ex. F-16 

 ARTICLE VI 

Insolvency or Liquidation Proceedings. 

SECTION 6.01. Financing Issues. Until the Discharge of Senior Obligations has occurred, if the Issuer or any other Grantor shall be
subject to any Insolvency or Liquidation Proceeding and any Senior Representative or any Senior Secured Party shall desire to consent (or not object) to the sale, use or lease of cash or other collateral or to consent (or not object) to the
Issuer’s or any other Grantor’s obtaining financing under Section 363 or Section 364 of the Bankruptcy Code or any similar provision of any other Bankruptcy Law (“DIP Financing”), then each Second Priority
Representative, for itself and on behalf of each Second Priority Debt Party under its Second Priority Debt Facility, agrees that it will raise no (a) objection to and will not otherwise contest such sale, use or lease of such cash or other
collateral or such DIP Financing and, except to the extent permitted by the proviso in clause (ii) of Section 3.01(a) and Section 6.03, will not request adequate protection or any other relief in connection therewith and, to the
extent the Liens securing any Senior Obligations are subordinated or pari passu with such DIP Financing, will subordinate (and will be deemed hereunder to have subordinated) its Liens in the Shared Collateral to (x) such DIP Financing
(and all obligations relating thereto) on the same basis as the Liens securing the Second Priority Debt Obligations are so subordinated to Liens securing Senior Obligations under this Agreement, (y) any adequate protection Liens provided to the
Senior Secured Parties, and (z) to any “carve-out” for professional and United States Trustee fees agreed to by the Senior Representatives, (b) objection to (and will not otherwise contest) any motion for relief from the
automatic stay or from any injunction against foreclosure or enforcement in respect of Senior Obligations or the Shared Collateral made by any Senior Representative or any other Senior Secured Party, (c) objection to (and will not otherwise contest)
any exercise by any Senior Secured Party of the right to credit bid Senior Obligations at any sale in foreclosure of Senior Collateral under Section 363(k) or Section 1129 of the Bankruptcy Code or any similar provision of any other
Bankruptcy Law, (d) objection to (and will not otherwise contest) any other request for judicial relief made in any court by any Senior Secured Party relating to the lawful enforcement of any Lien on Senior Collateral or (e) objection to
(and will not otherwise contest or oppose) any order relating to a sale or other disposition of assets of any Grantor (including pursuant to Section 363 of the Bankruptcy Code or any similar provision of any other applicable Bankruptcy Law) to
which any Senior Representative has consented or not objected that provides, to the extent such sale or other disposition is to be free and clear of Liens, that the Liens securing the Senior Obligations and the Second Priority Debt Obligations will
attach to the proceeds of the sale on the same basis of priority as the Liens on the Shared Collateral securing the Senior Obligations rank to the Liens on the Shared Collateral securing the Second Priority Debt Obligations pursuant to this
Agreement. Each Second Priority Representative, for itself and on behalf of each Second Priority Debt Party under its Second Priority Debt Facility, agrees that notice received two Business Days prior to the entry of an order approving such usage of
cash or other collateral or approving such financing shall be adequate notice. 
 SECTION 6.02. Relief from the Automatic Stay. Until
the Discharge of Senior Obligations has occurred, each Second Priority Representative, for itself and on behalf of each Second Priority Debt Party under its Second Priority Debt Facility, agrees that none of them shall seek relief from the automatic
stay or any other stay in any Insolvency or Liquidation Proceeding or take any action in derogation thereof, in each case in respect of any Shared Collateral, without the prior written consent of the Designated Senior Representative. 

SECTION 6.03. Adequate Protection. Each Second Priority Representative, for itself and on behalf of each Second Priority Debt Party
under its Second Priority Debt Facility, agrees that none of them shall (A) object, contest or support any other Person objecting to or contesting (a) any request by any Senior Representative or any Senior Secured Parties for adequate
protection in any form, (b) any objection by any Senior Representative or any Senior Secured Parties to any motion, relief, action or proceeding based on any Senior Representative’s or Senior Secured Party’s claiming a lack of
adequate protection or (c) the allowance and/or payment of interest, fees, expenses or other amounts of any Senior Representative or any other Senior Secured Party as adequate protection or otherwise under Section 506(b) of the Bankruptcy
Code or any similar provision of any other Bankruptcy Law or (B) assert or support any claim for costs or expenses of preserving or disposing of any Collateral under Section 506(c) of the Bankruptcy Code or any similar provision of any other
Bankruptcy Law. Notwithstanding anything contained in this Section 6.03 or in Section 6.01, in any Insolvency or Liquidation Proceeding, (i) if the Senior Secured Parties (or any subset thereof) are granted adequate protection in the
form of additional collateral or superpriority claims in connection with any DIP Financing or use of cash collateral under Section 363 or 364 of the Bankruptcy Code or any similar provision of any other Bankruptcy Law, then each Second Priority
Representative, for 

  
 Ex. F-17 

 
itself and on behalf of each Second Priority Debt Party under its Second Priority Debt Facility, may seek or request adequate protection in the form of a replacement Lien or superpriority claim
on such additional collateral, which (A) Lien is subordinated to the Liens securing all Senior Obligations and such DIP Financing (and all obligations relating thereto) and any other Liens granted to the Senior Secured Parties as adequate
protection on the same basis as the other Liens securing the Second Priority Debt Obligations are so subordinated to the Liens securing Senior Obligations under this Agreement and (B) superpriority claim is subordinated to all claims of the
Senior Secured Parties on the same basis as the other claims of the Second Priority Debt Parties are so subordinated to the claims of the Senior Secured Parties under this Agreement, (ii) in the event any Second Priority Representatives, for
themselves and on behalf of the Second Priority Debt Parties under their Second Priority Debt Facilities, seek or request adequate protection and such adequate protection is granted (in each instance, to the extent such grant is otherwise
permissible under the terms and conditions of this Agreement) in the form of additional or replacement collateral, then such Second Priority Representatives, for themselves and on behalf of each Second Priority Debt Party under their Second Priority
Debt Facilities, agree that each Senior Representative shall also be granted a senior Lien on such additional or replacement collateral as security for the Senior Obligations and any such DIP Financing and that any Lien on such additional or
replacement collateral securing and/or serving as adequate protection for the Second Priority Debt Obligations shall be subordinated to the Liens on such collateral adequate protection and securing the Senior Obligations and any such DIP Financing
(and all obligations relating thereto) and any other Liens granted to the Senior Secured Parties as adequate protection on the same basis as the other Liens securing the Second Priority Debt Obligations are so subordinated to such Liens securing
Senior Obligations under this Agreement (and, to the extent the Senior Secured Parties are not granted such adequate protection in such form, any amounts recovered by or distributed to any Second Priority Debt Party pursuant to or as a result of any
Lien on such additional or replacement collateral so granted to the Second Priority Debt Parties shall be subject to Section 4.02), and (iii) in the event any Second Priority Representatives, for themselves and on behalf of the Second
Priority Debt Parties under their Second Priority Debt Facilities, seek or request adequate protection and such adequate protection is granted (in each instance, to the extent such grant is otherwise permissible under the terms and conditions of
this Agreement) in the form of a superpriority claim, then such Second Priority Representatives, for themselves and on behalf of each Second Priority Debt Party under their Second Priority Debt Facilities, agree that each Senior Representative shall
also be granted adequate protection in the form of a superpriority claims, which superpriority claim shall be senior to the superpriority claims of the Second Priority Debt Parties (and, to the extent the Senior Secured Parties are not granted such
adequate protection in such form, any amounts recovered by or distributed to any Second Priority Debt Party pursuant to or as a result of any Lien on such additional or replacement collateral so granted to the Second Priority Debt Parties shall be
subject to Section 4.02). 
 SECTION 6.04. Preference Issues. If any Senior Secured Party is required in any Insolvency or
Liquidation Proceeding or otherwise to disgorge, turn over or otherwise pay any amount to the estate of the Issuer or any other Grantor (or any trustee, receiver or similar Person therefor), because the payment of such amount was declared to be
fraudulent or preferential in any respect or otherwise avoided under Chapter 5 of the Bankruptcy Code or any other applicable Bankruptcy Law or for any other reason, any amount (a “Recovery”), whether received as proceeds of
security, enforcement of any right of setoff or otherwise, then the Senior Obligations shall be reinstated to the extent of such Recovery and deemed to be outstanding as if such payment had not occurred and the Senior Secured Parties shall be
entitled to the benefits of this Agreement until a Discharge of Senior Obligations with respect to all such recovered amounts. If this Agreement shall have been terminated prior to such Recovery, this Agreement shall be reinstated in full force and
effect, and such prior termination shall not diminish, release, discharge, impair or otherwise affect the obligations of the parties hereto. Each Second Priority Representative, for itself and on behalf of each Second Priority Debt Party under its
Second Priority Debt Facility, hereby agrees that none of them shall be entitled to benefit from any avoidance action affecting or otherwise relating to any distribution or allocation made in accordance with this Agreement, whether by preference or
otherwise, it being understood and agreed that the benefit of such avoidance action otherwise allocable to them shall instead be allocated and turned over for application in accordance with the priorities set forth in this Agreement. 

SECTION 6.05. Separate Grants of Security and Separate Classifications. Each Second Priority Representative, for itself and on behalf
of each Second Priority Debt Party under its Second Priority Debt Facility, acknowledges and agrees that (a) the grants of Liens pursuant to the Senior Collateral Documents and the Second Priority Collateral Documents constitute separate and
distinct grants of Liens and (b) because of, among other things, their differing rights in the Shared Collateral, the Second Priority Debt Obligations are fundamentally different from the Senior Obligations and must be separately classified in
any plan of reorganization proposed, confirmed 

  
 Ex. F-18 

 
or adopted in an Insolvency or Liquidation Proceeding. To further effectuate the intent of the parties as provided in the immediately preceding sentence, if it is held that any claims of the
Senior Secured Parties and the Second Priority Debt Parties in respect of the Shared Collateral constitute a single class of claims (rather than separate classes of senior and junior secured claims), then each Second Priority Representative, for
itself and on behalf of each Second Priority Debt Party under its Second Priority Debt Facility, hereby acknowledges and agrees that all distributions shall be made as if there were separate classes of senior and junior secured claims against the
Grantors in respect of the Shared Collateral (with the effect being that, to the extent that the aggregate value of the Shared Collateral is sufficient (for this purpose ignoring all claims held by the Second Priority Debt Parties), the Senior
Secured Parties shall be entitled to receive, in addition to amounts distributed to them in respect of principal, pre-petition interest, fees and expenses and other claims, all amounts owing in respect of post-petition interest, fees and expenses
(whether or not allowed or allowable) before any distribution is made in respect of the Second Priority Debt Obligations, with each Second Priority Representative, for itself and on behalf of each Second Priority Debt Party under its Second Priority
Debt Facility, hereby acknowledging and agreeing to turn over to the Designated Senior Representative amounts otherwise received or receivable by them to the extent necessary to effectuate the intent of this sentence, even if such turnover has the
effect of reducing the claim or recovery of the Second Priority Debt Parties. 
 SECTION 6.06. No Waivers of Rights of Senior Secured
Parties. Nothing contained herein shall, except as expressly provided herein, prohibit or in any way limit any Senior Representative or any other Senior Secured Party from objecting in any Insolvency or Liquidation Proceeding or otherwise to any
action taken by any Second Priority Debt Party, including the seeking by any Second Priority Debt Party of adequate protection or the assertion by any Second Priority Debt Party of any of its rights and remedies under the Second Priority Debt
Documents or otherwise. 
 SECTION 6.07. Application. This Agreement, which the parties hereto expressly acknowledge is a
“subordination agreement” under Section 510(a) of the Bankruptcy Code or any similar provision of any other Bankruptcy Law, shall be effective before, during and after the commencement of any Insolvency or Liquidation Proceeding. The
relative rights as to the Shared Collateral and proceeds thereof shall continue after the commencement of any Insolvency or Liquidation Proceeding on the same basis as prior to the date of the petition therefor, subject to any court order approving
the financing of, or use of cash collateral by, any Grantor. All references herein to any Grantor shall include such Grantor as a debtor-in-possession and any receiver or trustee for such Grantor. 

SECTION 6.08. Other Matters. To the extent that any Second Priority Representative or any Second Priority Debt Party has or acquires
rights under Section 363 or Section 364 of the Bankruptcy Code or any similar provision of any other Bankruptcy Law with respect to any of the Shared Collateral, such Second Priority Representative, on behalf of itself and each Second
Priority Debt Party under its Second Priority Debt Facility, or such Second Priority Debt Party agrees not to assert any such rights without the prior written consent of each Senior Representative, provided that if requested by any Senior
Representative, such Second Priority Representative shall timely exercise such rights in the manner requested by the Senior Representatives (acting unanimously), including any rights to payments in respect of such rights. 

SECTION 6.09. 506(c) Claims. Until the Discharge of Senior Obligations has occurred, each Second Priority Representative, on behalf of
itself and each Second Priority Debt Party under its Second Priority Debt Facility, agrees that it will not assert or enforce any claim under Section 506(c) of the Bankruptcy Code or any similar provision of any other Bankruptcy Law senior to
or on a parity with the Liens securing the Senior Obligations for costs or expenses of preserving or disposing of any Shared Collateral. 

SECTION 6.10. Reorganization Securities. (a) If, in any Insolvency or Liquidation Proceeding, debt obligations of the reorganized
debtor secured by Liens upon any property of the reorganized debtor are distributed, pursuant to a plan of reorganization or similar dispositive restructuring plan, on account of both the Senior Obligations and the Second Priority Debt Obligations,
then, to the extent the debt obligations distributed on account of the Senior Obligations and on account of the Second Priority Debt Obligations are secured by Liens upon the same assets or property, the provisions of this Agreement will survive the
distribution of such debt obligations pursuant to such plan and will apply with like effect to the Liens securing such debt obligations. 

  
 Ex. F-19 

 (b) Each Second Priority Debt Party (whether in the capacity of a secured creditor or an
unsecured creditor) shall not propose, vote in favor of, or otherwise directly or indirectly support any plan of reorganization that is inconsistent with the priorities or other provisions of this Agreement, other than with the prior written consent
of the Designated Senior Representative or to the extent any such plan is proposed or supported by the number of Senior Secured Debt Parties required under Section 1126(d) of the Bankruptcy Code. 

SECTION 6.11. Section 1111(b) of the Bankruptcy Code. Each Second Priority Representative, for itself and on behalf of each Second
Priority Debt Party under its Second Priority Debt Facility, shall not object to, oppose, support any objection, or take any other action to impede, the right of any Senior Secured Party to make an election under Section 1111(b)(2) of the
Bankruptcy Code. Each Second Priority Representative, for itself and on behalf of each Second Priority Debt Party under its Second Priority Debt Facility, waives any claim it may hereafter have against any senior claimholder arising out of the
election by any Senior Secured Party of the application of Section 1111(b)(2) of the Bankruptcy Code. 
 ARTICLE VII 

Reliance; Etc. 
 SECTION
7.01. Reliance. All loans and other extensions of credit made or deemed made on and after the date hereof by the Senior Secured Parties to the Issuer or any of its Subsidiaries shall be deemed to have been given and made in reliance upon this
Agreement. Each Second Priority Representative, on behalf of itself and each Second Priority Debt Party under its Second Priority Debt Facility, acknowledges that it and such Second Priority Debt Parties have, independently and without reliance on
any Senior Representative or other Senior Secured Party, and based on documents and information deemed by them appropriate, made their own credit analysis and decision to enter into the Second Priority Debt Documents to which they are party or by
which they are bound, this Agreement and the transactions contemplated hereby and thereby, and they will continue to make their own credit decisions in taking or not taking any action under the Second Priority Debt Documents or this Agreement. 

SECTION 7.02. No Warranties or Liability. Each Second Priority Representative, on behalf of itself and each Second Priority Debt Party
under its Second Priority Debt Facility, acknowledges and agrees that neither any Senior Representative nor any other Senior Secured Party has made any express or implied representation or warranty, including with respect to the execution, validity,
legality, completeness, collectibility or enforceability of any of the Senior Debt Documents, the ownership of any Shared Collateral or the perfection or priority of any Liens thereon. The Senior Secured Parties will be entitled to manage and
supervise their respective loans and extensions of credit under the Senior Debt Documents in accordance with law and as they may otherwise, in their sole discretion, deem appropriate, and the Senior Secured Parties may manage their loans and
extensions of credit without regard to any rights or interests that the Second Priority Representatives and the Second Priority Debt Parties have in the Shared Collateral or otherwise, except as otherwise provided in this Agreement. Neither any
Senior Representative nor any other Senior Secured Party shall have any duty to any Second Priority Representative or Second Priority Debt Party to act or refrain from acting in a manner that allows, or results in, the occurrence or continuance of
an event of default or default under any agreement with the Issuer or any of its Subsidiaries (including the Second Priority Debt Documents), regardless of any knowledge thereof that they may have or be charged with. Except as expressly set forth in
this Agreement, the Senior Representatives, the Senior Secured Parties, the Second Priority Representatives and the Second Priority Debt Parties have not otherwise made to each other, nor do they hereby make to each other, any warranties, express or
implied, nor do they assume any liability to each other with respect to (a) the enforceability, validity, value or collectibility of any of the Senior Obligations, the Second Priority Debt Obligations or any guarantee or security which may have
been granted to any of them in connection therewith, (b) any Grantor’s title to or right to transfer any of the Shared Collateral or (c) any other matter except as expressly set forth in this Agreement. 

SECTION 7.03. Obligations Unconditional. All rights, interests, agreements and obligations of the Senior Representatives, the Senior
Secured Parties, the Second Priority Representatives and the Second Priority Debt Parties hereunder shall remain in full force and effect irrespective of: 

(a) any lack of validity or enforceability of any Senior Debt Document or any Second Priority Debt Document; 

  
 Ex. F-20 

 (b) any change in the time, manner or place of payment of, or in any other terms
of, all or any of the Senior Obligations or Second Priority Debt Obligations, or any amendment or waiver or other modification, including any increase in the amount thereof, whether by course of conduct or otherwise, of the terms of the Indenture or
any other Senior Debt Document or of the terms of any Second Priority Debt Document; 
 (c) any exchange of any security
interest in any Shared Collateral or any other collateral or any amendment, waiver or other modification, whether in writing or by course of conduct or otherwise, of all or any of the Senior Obligations or Second Priority Debt Obligations or any
guarantee thereof; 
 (d) the commencement of any Insolvency or Liquidation Proceeding in respect of the Issuer or any other
Grantor; or 
 (e) any other circumstances that otherwise might constitute a defense available to (i) the Issuer or any
other Grantor in respect of the Senior Obligations (other than the Discharge of Senior Obligations subject to Sections 5.06 and 6.04) or (ii) any Second Priority Representative or Second Priority Debt Party in respect of this Agreement. 

ARTICLE VIII 
 Miscellaneous

 SECTION 8.01. Conflicts. Subject to Section 8.21, in the event of any conflict between the provisions of this Agreement
and the provisions of any Senior Debt Document or any Second Priority Debt Document, the provisions of this Agreement shall govern. Notwithstanding the foregoing, the relative rights and obligations of the Senior Secured Collateral Agent, the Senior
Representatives and the Senior Secured Parties (as amongst themselves) with respect to any Senior Collateral that constitutes Notes Priority Collateral shall be governed by the terms of the ABL Intercreditor Agreement and in the event of any
conflict between the ABL Intercreditor Agreement and this Agreement, the provisions of the ABL Intercreditor Agreement shall control. 

SECTION 8.02. Continuing Nature of this Agreement; Severability. Subject to Section 6.04, this Agreement shall continue to be
effective until the Discharge of Senior Obligations shall have occurred. This is a continuing agreement of Lien subordination, and the Senior Secured Parties may continue, at any time and without notice to the Second Priority Representatives or any
Second Priority Debt Party, to extend credit and other financial accommodations and lend monies to or for the benefit of the Issuer or any of its Subsidiaries constituting Senior Obligations in reliance hereon. The terms of this Agreement shall
survive and continue in full force and effect in any Insolvency or Liquidation Proceeding. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such
prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. The parties shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable
provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. 

SECTION 8.03. Amendments; Waivers. 

(a) No failure or delay on the part of any party hereto in exercising any right or power hereunder 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 parties hereto are cumulative and are not exclusive of any rights or remedies that they would otherwise have. No waiver of any provision of this Agreement or consent to any departure by any 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. No notice or demand on any party hereto in any
case shall entitle such party to any other or further notice or demand in similar or other circumstances. 

  
 Ex. F-21 

 (b) This Agreement may be amended in writing signed by each Representative (in each case, acting
in accordance with the documents governing the applicable Debt Facility); provided that any such amendment, supplement or waiver which by the terms of this Agreement requires the Issuer’s consent or which increases the obligations or
reduces the rights of, or otherwise materially adversely affects, the Issuer or any Grantor, shall require the consent of the Issuer. Any such amendment, supplement or waiver shall be in writing and shall be binding upon the Senior Secured Parties
and the Second Priority Debt Parties and their respective successors and assigns. 
 (c) Notwithstanding the foregoing, without the consent
of any Secured Party (and with respect to any amendment or modification which by the terms of this Agreement requires the Issuer’s consent or which increases the obligations or reduces the rights of the Issuer or any other Grantor, with the
consent of the Issuer), any Representative may become a party hereto by execution and delivery of a Joinder Agreement in accordance with Section 8.09 of this Agreement and upon such execution and delivery, such Representative and the Secured
Parties and Senior Obligations or Second Priority Debt Obligations of the Debt Facility for which such Representative is acting shall be subject to the terms hereof. 

SECTION 8.04. Information Concerning Financial Condition of the Issuer and the Subsidiaries. The Senior Representatives, the Senior
Secured Parties, the Second Priority Representatives and the Second Priority Secured Parties shall each be responsible for keeping themselves informed of (a) the financial condition of the Issuer and its Subsidiaries and all endorsers or
guarantors of the Senior Obligations or the Second Priority Debt Obligations and (b) all other circumstances bearing upon the risk of nonpayment of the Senior Obligations or the Second Priority Debt Obligations. The Senior Representatives, the
Senior Secured Parties, the Second Priority Representatives and the Second Priority Secured Parties shall have no duty to advise any other party hereunder of information known to it or them regarding such condition or any such circumstances or
otherwise. In the event that any Senior Representative, any Senior Secured Party, any Second Priority Representative or any Second Priority Debt Party, in its sole discretion, undertakes at any time or from time to time to provide any such
information to any other party, it shall be under no obligation to (i) make, and the Senior Representatives, the Senior Secured Parties, the Second Priority Representatives and the Second Priority Debt Parties shall not make or be deemed to
have made, any express or implied representation or warranty, including with respect to the accuracy, completeness, truthfulness or validity of any such information so provided, (ii) provide any additional information or to provide any such
information on any subsequent occasion, (iii) undertake any investigation or (iv) disclose any information that, pursuant to accepted or reasonable commercial finance practices, such party wishes to maintain confidential or is otherwise
required to maintain confidential. 
 SECTION 8.05. Subrogation. Each Second Priority Representative, on behalf of itself and each
Second Priority Debt Party under its Second Priority Debt Facility, hereby waives any rights of subrogation it may acquire as a result of any payment hereunder until the Discharge of Senior Obligations has occurred. 

SECTION 8.06. Application of Payments. Except as otherwise provided herein, all payments received by the Senior Secured Parties may be
applied, reversed and reapplied, in whole or in part, to such part of the Senior Obligations as the Senior Secured Parties, in their sole discretion, deem appropriate, consistent with the terms of the Senior Debt Documents. Except as otherwise
provided herein, each Second Priority Representative, on behalf of itself and each Second Priority Debt Party under its Second Priority Debt Facility, assents to any such extension or postponement of the time of payment of the Senior Obligations or
any part thereof and to any other indulgence with respect thereto, to any substitution, exchange or release of any security that may at any time secure any part of the Senior Obligations and to the addition or release of any other Person primarily
or secondarily liable therefor. 
 SECTION 8.07. Additional Grantors. The Issuer agrees that, if any of its Subsidiaries shall become
a Grantor after the date hereof, it will promptly cause such Subsidiary to become party hereto by executing and delivering an instrument in the form of Annex II. Upon such execution and delivery, such Subsidiary will become a Grantor hereunder with
the same force and effect as if originally named as a Grantor herein. The execution and delivery of such instrument shall not require the consent of any other party hereunder, and will be acknowledged by the Designated Second Priority Representative
and the Designated Senior Representative. The rights and obligations of each Grantor hereunder shall remain in full force and effect notwithstanding the addition of any new Grantor as a party to this Agreement. 

  
 Ex. F-22 

 SECTION 8.08. Dealings with Grantors. Upon any application or demand by the Issuer or any
Grantor to any Representative to take or permit any action under any of the provisions of this Agreement or under any Collateral Document (if such action is subject to the provisions hereof), at the request of such Representative, the Issuer or such
Grantor, as appropriate, shall furnish to such Representative a certificate of an authorized officer ( an “Officer’s Certificate”) stating that all conditions precedent, if any, provided for in this Agreement or such Collateral
Document, as the case may be, relating to the proposed action have been complied with, except that in the case of any such application or demand as to which the furnishing of such documents is specifically required by any provision of this Agreement
or any Collateral Document relating to such particular application or demand, no additional certificate or opinion need be furnished. 

SECTION 8.09. Additional Debt Facilities. To the extent, but only to the extent, permitted by the provisions of the then extant Senior
Debt Documents and Second Priority Debt Documents, the Issuer may incur or issue and sell one or more series or classes of Second Priority Debt and one or more series or classes of Additional Senior Debt. Any such additional class or series of
Second Priority Debt (the “Second Priority Class Debt”) may be secured by a second priority, subordinated Lien on Shared Collateral, in each case under and pursuant to the relevant Second Priority Collateral Documents for such
Second Priority Class Debt, if and subject to the condition that the Representative of any such Second Priority Class Debt (each, a “Second Priority Class Debt Representative”), acting on behalf of the holders of such Second
Priority Class Debt (such Representative and holders in respect of any Second Priority Class Debt being referred to as the “Second Priority Class Debt Parties”), becomes a party to this Agreement by satisfying conditions
(i) through (iii), as applicable, of the immediately succeeding paragraph. Any such additional class or series of Senior Facilities (the “Senior Class Debt”; and the Senior Class Debt and Second Priority Class Debt,
collectively, the “Class Debt”) may be secured by a senior Lien on Shared Collateral, in each case under and pursuant to the relevant Senior Collateral Documents, if and subject to the condition that the Representative of any such
Senior Class Debt (each, a “Senior Class Debt Representative”; and the Senior Class Debt Representatives and Second Priority Class Debt Representatives, collectively, the “Class Debt Representatives”), acting on
behalf of the holders of such Senior Class Debt (such Representative and holders in respect of any such Senior Class Debt being referred to as the “Senior Class Debt Parties”; and the Senior Class Debt Parties and Second Priority
Class Debt Parties, collectively, the “Class Debt Parties”), becomes a party to this Agreement by satisfying the conditions set forth in the definition of Additional Senior Debt and clauses (ii) through (iii), as applicable, of
the immediately succeeding paragraph. In order for a Class Debt Representative to become a party to this Agreement: 
 (i)
such Second Priority Class Debt Representative shall have executed and delivered a Joinder Agreement substantially in the form of Annex III (with such changes as may be reasonably approved by the Designated Senior Representative and such Second
Priority Class Debt Representative) pursuant to which it becomes a Representative hereunder, and the Second Priority Class Debt in respect of which such Second Priority Class Debt Representative is the Representative constitutes Second Priority Debt
Obligations and the related Second Priority Class Debt Parties become subject hereto and bound hereby as Second Priority Debt Parties; 

(ii) the Issuer (a) shall have delivered to the Designated Senior Representative an Officer’s Certificate identifying
the obligations to be designated as Additional Senior Debt Obligations or Second Priority Debt Obligations, as applicable, and the initial aggregate principal amount or face amount thereof and certifying that such obligations are permitted to be
incurred and secured (I) in the case of Additional Senior Debt Obligations, on a senior basis under each of the Senior Debt Documents and (II) in the case of Second Priority Debt Obligations, on a junior basis under each of the Second Priority
Debt Documents and (b) if requested, shall have delivered true and complete copies of each of the Second Priority Debt Documents or Senior Debt Documents, as applicable, relating to such Class Debt, certified as being true and correct by an
authorized officer of the Issuer; and 
 (iii) the Second Priority Debt Documents or Senior Debt Documents, as applicable,
relating to such Class Debt shall provide that each Class Debt Party with respect to such Class Debt will be subject to and bound by the provisions of this Agreement in its capacity as a holder of such Class Debt. 

SECTION 8.10. Refinancings. To the extent not prohibited by this Agreement, the Senior Debt Obligations and the Second Priority Debt
may be refinanced or replaced, in whole or in part, in each case, 

  
 Ex. F-23 

 
without notice to, or the consent (except to the extent a consent is otherwise required to permit the refinancing transaction under any Senior Debt Document or any Second Priority Debt Document)
of any Senior Representative or any Secured Party, all without affecting the Lien priorities provided for herein or the other provisions hereof. Second Priority Representative hereby agrees that at the request of the Issuer in connection with
refinancing or replacement of Senior Obligations (“Replacement Senior Obligations”) it will enter into an agreement in form and substance reasonably acceptable to the Second Priority Representative with the agent for the Replacement
Senior Obligations containing terms and conditions substantially similar to the terms and conditions of this Agreement. 
 SECTION 8.11.
Consent to Jurisdiction; Waivers. Each Representative, on behalf of itself and the Secured Parties of the Debt Facility for which it is acting, irrevocably and unconditionally: 

(a) submits for itself and its property in any legal action or proceeding relating to this Agreement and the Collateral
Documents, or for recognition and enforcement of any judgment in respect thereof, to the exclusive jurisdiction of the courts of the State of New York, in the County of New York, the courts of the United States of America for the Southern District
of New York, and appellate courts from any thereof; 
 (b) consents and agrees that any such action or proceeding shall be
brought in such courts and waives any objection that it may now or hereafter have to the venue of any such action or proceeding in any such court or that such action or proceeding was brought in an inconvenient court and agrees not to plead or claim
the same; 
 (c) agrees that service of process in any such action or proceeding may be effected by mailing a copy thereof by
registered or certified mail (or any substantially similar form of mail), postage prepaid, to such Person (or its Representative) at the address referred to in Section 8.12; 

(d) agrees that nothing herein shall affect the right of any other party hereto (or any Secured Party) to effect service of
process in any other manner permitted by law; and 
 (e) waives, to the maximum extent not prohibited by law, any right it
may have to claim or recover in any legal action or proceeding referred to in this Section 8.11 any special, exemplary, punitive or consequential damages. 

SECTION 8.12. Notices. All notices, requests, demands and other communications provided for or permitted hereunder shall be in writing
and shall be sent: 
 (i) if to Issuer or any Grantor, to the Issuer, at its address at: [4776 New Broad Street, Suite 200,
Orlando, Florida, 32814], Attention of [                    ], telecopy
[                    ]; 

(ii) if to the Initial Second Priority Representative to it at:
[                    ], Attention of
[                    ], telecopy
[                    ]; 

(iii) if to the Senior Collateral Agent, to it at: [Wells Fargo Bank, National Association, Corporate Trust Services, MAC
N-9311-115, 625 Marquette Avenue, 11th Floor, Minneapolis, Minnesota, 55479], Attention of [●], (Fax No.: [●]) (e-mail: [●]), with a copy to:
[                    ]; 

(iv) if to any other Senior Representative a party hereto on the date hereof, to it at:
[                    ], Attention of
[                    ], telecopy
[                    ]; 

(v) if to any other Representative, to it at the address specified by it in the Joinder Agreement delivered by it pursuant to
Section 8.09. 
 Unless otherwise specifically provided herein, any notice or other communication herein required or permitted to be given shall be in
writing and, may be personally served, telecopied, electronically mailed or sent by courier service or U.S. mail and shall be deemed to have been given when delivered in person or by courier service, upon receipt of a telecopy or electronic mail or
upon receipt via U.S. mail (registered or certified, with postage prepaid and properly addressed). For the purposes hereof, the addresses of the parties hereto shall be as set forth above or, as to each party, at such other address as may be
designated by such party in a written notice to all of the other parties. 

  
 Ex. F-24 

 SECTION 8.13. Further Assurances. Each Senior Representative, on behalf of itself and each
Senior Secured Party under the Senior Debt Facility for which it is acting, each Second Party Representative, on behalf of itself, and each Second Priority Debt Party under its Second Priority Debt Facility, agrees that it will take such further
action and shall execute and deliver such additional documents and instruments (in recordable form, if requested) as the other parties hereto may reasonably request to effectuate the terms of, and the Lien priorities contemplated by, this Agreement.

 SECTION 8.14. GOVERNING LAW; WAIVER OF JURY TRIAL. 

(A) THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN
ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 
 (B) EACH PARTY HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES TRIAL BY
JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS AGREEMENT AND FOR ANY COUNTERCLAIM THEREIN. 
 SECTION 8.15. Binding on
Successors and Assigns. This Agreement shall be binding upon the Senior Representatives, the Senior Secured Parties, the Second Priority Representatives, the Second Priority Debt Parties, the Issuer, the other Grantors party hereto and their
respective successors and assigns. 
 SECTION 8.16. Section Titles. The section titles contained in this Agreement are and shall be
without substantive meaning or content of any kind whatsoever and are not a part of this Agreement. 
 SECTION 8.17. Counterparts.
This Agreement may be executed in one or more counterparts, including by means of facsimile or other electronic method, each of which shall be an original and all of which shall together constitute one and the same document. Delivery of an executed
signature page to this Agreement by facsimile or other electronic transmission shall be as effective as delivery of a manually signed counterpart of this Agreement. 

SECTION 8.18. Authorization. By its signature, each Person executing this Agreement on behalf of a party hereto represents and warrants
to the other parties hereto that it is duly authorized to execute this Agreement. The Senior Collateral Agent represents and warrants that this Agreement is binding upon Secured Notes Secured Parties. The Initial Second Priority Representative
represents and warrants that this Agreement is binding upon the Initial Second Priority Debt Parties. 
 SECTION 8.19. No Third Party
Beneficiaries; Successors and Assigns. The lien priorities set forth in this Agreement and the rights and benefits hereunder in respect of such lien priorities shall inure solely to the benefit of the Senior Representatives, the Senior Secured
Parties, the Second Priority Representatives and the Second Priority Debt Parties, and their respective permitted successors and assigns, and no other Person (including the Grantors, or any trustee, receiver, debtor in possession or bankruptcy
estate in a bankruptcy or like proceeding) shall have or be entitled to assert such rights. Nothing in this Agreement is intended to or shall impair the rights or obligations of the Issuer or any other Grantor, which obligations are absolute and
unconditional, to pay the Senior Obligations and the Second Priority Debt Obligations as and when the same shall become due and payable in accordance with their terms. 

SECTION 8.20. Effectiveness. This Agreement shall become effective when executed and delivered by the parties hereto. 

SECTION 8.21. Senior Collateral Agent and Initial Second Priority Representative. It is understood and agreed that (a) the Senior
Collateral Agent (as defined in the preamble hereto) is entering into this Agreement in its capacity as notes collateral agent under the Indenture and the provisions of Article XI of the Indenture 

  
 Ex. F-25 

 
applicable to the Notes Collateral Agent (as defined therein) thereunder shall also apply to the Senior Collateral Agent hereunder and (b) the Initial Second Priority Representative is
entering into this Agreement in its capacity as [                    ] under the Initial Second Priority Debt Documents and the provisions of
Article [                    ] of
[                    ] applicable to the Initial Second Priority Representative thereunder shall also apply to the Initial Second Priority
Representative hereunder. 
 SECTION 8.22. Relative Rights. Notwithstanding anything in this Agreement to the contrary (except to the
extent contemplated by Section 5.01(a), 5.01(d) or 5.03(b)), nothing in this Agreement is intended to or will (a) amend, waive or otherwise modify the provisions of the Indenture, any other Senior Debt Document or any Second Priority Debt
Documents, (b) change the relative priorities of the Senior Obligations or the Liens granted under the Senior Collateral Documents on the Shared Collateral (or any other assets) as among the Senior Secured Parties, (c) otherwise change the
relative rights of the Senior Secured Parties in respect of the Shared Collateral as among such Senior Secured Parties or (d) obligate the Issuer or any Grantor to take any action, or fail to take any action, that would otherwise constitute a
breach of, or default under, the Indenture or any other Senior Debt Document or any Second Priority Debt Document. 
 SECTION 8.23.
Survival of Agreement. All covenants, agreements, representations and warranties made by any party in this Agreement shall be considered to have been relied upon by the other parties hereto and shall survive the execution and delivery of this
Agreement. 

  
 Ex. F-26 

 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. 
  

			
	WELLS FARGO BANK, NATIONAL ASSOCIATION,
	as Senior Collateral Agent
		
	By:	 	  

		 	Name:
		 	Title:
	
	[                    ],
	as [                    ] for the holders of [applicable Additional Senior Debt Facility]
		
	By:	 	  

		 	Name:
		 	Title:
	
	[                    ],
	as Initial Second Priority Representative
		
	By:	 	  

		 	Name:
		 	Title:

  
 Ex. F-27 

 
			
	ALLIED SPECIALTY VEHICLES, INC.
		
	By:	 	  

		 	Name:
		 	Title:
	
	THE GRANTORS LISTED ON ANNEX I HERETO
		
	By:	 	  

		 	Name:
		 	Title:

  
 Ex. F-28 

 ANNEX I 

Grantors 

  
 Annex I-1 

 ANNEX II 

SUPPLEMENT NO. dated as of [            ], 20[    ] (this
“Supplement”), to the JUNIOR LIEN INTERCREDITOR AGREEMENT dated as of [            ], 201[  ] (the “Junior Lien Intercreditor Agreement”), among
ALLIED SPECIALTY VEHICLES, INC., a Delaware corporation (the “Issuer”), certain subsidiaries of the Issuer (each a “Grantor”), WELLS FARGO BANK, NATIONAL ASSOCIATION, as notes collateral agent under the Indenture,
[                    ], as Initial Second Priority Representative, and the additional Representatives from time to time party thereto. 

A. Capitalized terms used herein and not otherwise defined herein shall have the meanings assigned to such terms in the Junior Lien
Intercreditor Agreement. 
 B. The Grantors have entered into the Junior Lien Intercreditor Agreement. Pursuant to the Indenture, certain
Additional Senior Debt Documents and certain Second Priority Debt Documents, certain newly acquired or organized Subsidiaries of the Issuer are required to enter into the Junior Lien Intercreditor Agreement. Section 8.07 of the Junior Lien
Intercreditor Agreement provides that such Subsidiaries may become party to the Junior Lien Intercreditor Agreement by execution and delivery of an instrument in the form of this Supplement. The undersigned Subsidiary (the “New
Grantor”) is executing this Supplement in accordance with the requirements of the Indenture, the Second Priority Debt Documents and Additional Senior Debt Documents. 

Accordingly, the Designated Senior Representative and the New Grantor agree as follows: 

SECTION 1. In accordance with Section 8.07 of the Junior Lien Intercreditor Agreement, the New Grantor by its signature below becomes a
Grantor under the Junior Lien Intercreditor Agreement with the same force and effect as if originally named therein as a Grantor, and the New Grantor hereby agrees to all the terms and provisions of the Junior Lien Intercreditor Agreement applicable
to it as a Grantor thereunder. Each reference to a “Grantor” in the Junior Lien Intercreditor Agreement shall be deemed to include the New Grantor. The Junior Lien Intercreditor Agreement is hereby incorporated herein by reference. 

SECTION 2. The New Grantor represents and warrants to the Designated Senior Representative and the other Secured Parties that this Supplement
has been duly authorized, executed and delivered by it and constitutes its legal, valid and binding obligation, enforceable against it in accordance with its terms, except as such enforceability may be limited by Bankruptcy Laws and by general
principles of equity. 
 SECTION 3. This Supplement may be executed in counterparts, each of which shall constitute an original, but all of
which when taken together shall constitute a single contract. This Supplement shall become effective when the Designated Senior Representative shall have received a counterpart of this Supplement that bears the signature of the New Grantor. Delivery
of an executed signature page to this Supplement by facsimile transmission or other electronic method shall be as effective as delivery of a manually signed counterpart of this Supplement. 

SECTION 4. Except as expressly supplemented hereby, the Junior Lien Intercreditor Agreement shall remain in full force and effect. 

SECTION 5. THIS SUPPLEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 

SECTION 6. In case any one or more of the provisions contained in this Supplement should be held invalid, illegal or unenforceable in any
respect, no party hereto shall be required to comply with such provision for so long as such provision is held to be invalid, illegal or unenforceable, but the validity, legality and enforceability of the remaining provisions contained herein and in
the Junior Lien Intercreditor Agreement shall not in any way be affected or impaired. The parties hereto shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions the economic effect
of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. 
 SECTION 7. All communications and
notices hereunder shall be in writing and given as provided in Section 8.12 of the Junior Lien Intercreditor Agreement. All communications and notices hereunder to the New Grantor shall be given to it in care of the Issuer as specified in the
Junior Lien Intercreditor Agreement. 

  
 Annex II-1 

 SECTION 8. The Issuer agrees to reimburse the Designated Senior Representative for its reasonable
out-of-pocket expenses in connection with this Supplement, including the reasonable fees, other charges and disbursements of counsel for the Designated Senior Representative as required by the applicable Senior Debt Documents. 

  
 Annex II-2 

 IN WITNESS WHEREOF, the New Grantor, and the Designated Senior Representative have duly executed
this Supplement to the Junior Lien Intercreditor Agreement as of the day and year first above written. 
  

			
	[NAME OF NEW GRANTOR]
		
	By:	 	  

		 	Name:
		 	Title:

  

			
	Acknowledged by:
	
	[                    ], as Designated Senior Representative
		
	By:	 	  

		 	Name:
		 	Title:
	
	[                    ], as Designated Second Priority Representative
		
	 By:
	 	  

		 	Name:
		 	Title:

  
 Annex II-3 

 ANNEX III 

[FORM OF] REPRESENTATIVE SUPPLEMENT NO. [    ] dated as of
[            ], 201[  ] to the JUNIOR LIEN INTERCREDITOR AGREEMENT dated as of [            ], 201[  ] (the
“Junior Lien Intercreditor Agreement”), among ALLIED SPECIALTY VEHICLES, INC., a Delaware corporation (the “Issuer”), certain subsidiaries the Issuer (each a “Grantor”), WELLS FARGO BANK, NATIONAL
ASSOCIATION, as notes collateral agent under the Indenture, [                    ], as Initial Second Priority Representative, and the additional
Representatives from time to time party thereto. 
 A. Capitalized terms used herein but not otherwise defined herein shall have the
meanings assigned to such terms in the Junior Lien Intercreditor Agreement. 
 B. As a condition to the ability of the Issuer to incur
Second Priority Debt and to secure such Second Priority Class Debt with the Second Priority Lien and to have such Second Priority Class Debt guaranteed by the Grantors, in each case under and pursuant to the Second Priority Collateral Documents
relating thereto, the Second Priority Class Representative in respect of such Second Priority Class Debt is required to become a Representative under, and such Second Priority Class Debt and the Second Priority Class Debt Parties in respect thereof
are required to become subject to and bound by, the Junior Lien Intercreditor Agreement. Section 8.09 of the Junior Lien Intercreditor Agreement provides that such Second Priority Class Debt Representative may become a Representative under, and
such Second Priority Class Debt and such Second Priority Class Debt Parties may become subject to and bound by, the Junior Lien Intercreditor Agreement as Second Priority Debt Obligations and Second Priority Debt Parties, respectively, pursuant to
the execution and delivery by the Second Priority Class Debt Representative of an instrument in the form of this Representative Supplement and the satisfaction of the other conditions set forth in Section 8.09 of the Junior Lien Intercreditor
Agreement. The undersigned Second Priority Class Debt Representative (the “New Representative”) is executing this Supplement in accordance with the requirements of the Senior Debt Documents and the Second Priority Debt Documents.

 Accordingly, the Designated Senior Representative and the New Representative agree as follows: 

SECTION 1. In accordance with Section 8.09 of the Junior Lien Intercreditor Agreement, the New Representative by its signature below
becomes a Representative under, and the related Second Priority Class Debt and Second Priority Class Debt Parties become subject to and bound by, the Junior Lien Intercreditor Agreement as Second Priority Debt Obligations and Second Priority Debt
Parties, respectively, with the same force and effect as if the New Representative had originally been named therein as a Representative, and the New Representative, on behalf of itself and such Second Priority Class Debt Parties, hereby agrees to
all the terms and provisions of the Junior Lien Intercreditor Agreement applicable to it as a Second Priority Representative and to the Second Priority Class Debt Parties that it represents as Second Priority Debt Parties. Each reference to a
“Representative” or “Second Priority Representative” in the Junior Lien Intercreditor Agreement shall be deemed to include the New Representative. The Junior Lien Intercreditor Agreement is hereby incorporated
herein by reference. 
 SECTION 2. The New Representative represents and warrants to the Designated Senior Representative and the other
Secured Parties that (i) it has full power and authority to enter into this Representative Supplement, in its capacity as [agent] [trustee], (ii) this Representative Supplement has been duly authorized, executed and delivered by it and
constitutes its legal, valid and binding obligation, enforceable against it in accordance with the terms of such Agreement and (iii) the Second Priority Debt Documents relating to such Second Priority Class Debt provide that, upon the New
Representative’s entry into this Agreement, the Second Priority Class Debt Parties in respect of such Second Priority Class Debt will be subject to and bound by the provisions of the Junior Lien Intercreditor Agreement as Second Priority Debt
Parties. 
 SECTION 3. This Representative Supplement may be executed in counterparts, each of which shall constitute an original, but all
of which when taken together shall constitute a single contract. This Representative Supplement shall become effective when the Designated Senior Representative shall have received a counterpart of this Representative Supplement that bears the
signature of the New Representative. Delivery of an executed signature page to this Representative Supplement by facsimile transmission or other electronic method shall be effective as delivery of a manually signed counterpart of this Representative
Supplement. 

  
 Annex III-1 

 SECTION 4. Except as expressly supplemented hereby, the Junior Lien Intercreditor Agreement shall
remain in full force and effect. 
 SECTION 5. THIS REPRESENTATIVE SUPPLEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE
LAWS OF THE STATE OF NEW YORK. 
 SECTION 6. In case any one or more of the provisions contained in this Representative Supplement
should be held invalid, illegal or unenforceable in any respect, no party hereto shall be required to comply with such provision for so long as such provision is held to be invalid, illegal or unenforceable, but the validity, legality and
enforceability of the remaining provisions contained herein and in the Junior Lien Intercreditor Agreement shall not in any way be affected or impaired. The parties hereto shall endeavor in good-faith negotiations to replace the invalid, illegal or
unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. 

SECTION 7. All communications and notices hereunder shall be in writing and given as provided in Section 8.12 of the Junior Lien
Intercreditor Agreement. All communications and notices hereunder to the New Representative shall be given to it at the address set forth below its signature hereto. 

SECTION 8. The Issuer agrees to reimburse the Designated Senior Representative for its reasonable out-of-pocket expenses in connection with
this Representative Supplement, including the reasonable fees, other charges and disbursements of counsel for the Designated Senior Representative as required by the applicable Senior Debt Documents. 

  
 Annex III-2 

 IN WITNESS WHEREOF, the New Representative and the Designated Senior Representative have duly
executed this Representative Supplement to the Junior Lien Intercreditor Agreement as of the day and year first above written. 
  

									
		  	[NAME OF NEW REPRESENTATIVE],
		  	as [                    ] for the holders of
[                    ]
			
		  	By:	 	                                   
                                         
                            
		  		 	Name:	  		 	
		  		 	Title:	  		 	
			
		  		 	 Address for notices:

			
		  		 	
                      
                                         
                                 

			
		  		 	
                      
                                         
                                 

									
					
		  		 		  	Attention of:	 	  

					
		  		 		  	Telecopy:	 	  

									
			
		  	[                    ],	 	
		  	as Designated Senior Representative
			
		  	By:	 	                                   
                                         
                            
		  		 	Name:	  		 	
		  		 	Title:	  		 	

  
 Annex III-3 

					
	Acknowledged by:
	
	ALLIED SPECIALTY VEHICLES, INC.
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	
	
	THE GRANTORS
	LISTED ON SCHEDULE I HERETO
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	

  
 Annex III-4 

 Schedule I to the 

Representative Supplement to the 

Junior Lien Intercreditor Agreement 

Grantors 

  
 Annex III-5 

 ANNEX IV 

[FORM OF] REPRESENTATIVE SUPPLEMENT NO. [    ] dated as of
[            ], 201[  ] to the JUNIOR LIEN INTERCREDITOR AGREEMENT dated as of [            ], 201[  ] (the
“Junior Lien Intercreditor Agreement”), among ALLIED SPECIALTY VEHICLES, INC., a Delaware corporation (the “Issuer”), certain subsidiaries of the Issuer (each a “Grantor”), WELLS FARGO BANK,
NATIONAL ASSOCIATION, as notes collateral agent under the Indenture, [                    ], as Initial Second Priority Representative, and the
additional Representatives from time to time party thereto. 
 A. Capitalized terms used herein but not otherwise defined herein shall have
the meanings assigned to such terms in the Junior Lien Intercreditor Agreement. 
 B. As a condition to the ability of the Issuer to incur
Senior Class Debt after the date of the Junior Lien Intercreditor Agreement and to secure such Senior Class Debt with the Senior Lien and to have such Senior Class Debt guaranteed by the Grantors on a senior basis, in each case under and pursuant to
the Senior Collateral Documents relating thereto, the Senior Class Debt Representative in respect of such Senior Class Debt is required to become a Representative under, and such Senior Class Debt and the Senior Class Debt Parties in respect thereof
are required to become subject to and bound by, the Junior Lien Intercreditor Agreement. Section 8.09 of the Junior Lien Intercreditor Agreement provides that such Senior Class Debt Representative may become a Representative under, and such
Senior Class Debt and such Senior Class Debt Parties may become subject to and bound by, the Junior Lien Intercreditor Agreement as Second Priority Debt Obligations and Additional Senior Debt Parties, respectively, pursuant to the execution and
delivery by the Senior Class Debt Representative of an instrument in the form of this Representative Supplement and the satisfaction of the other conditions set forth in the definition of “Additional Senior Debt” in the Junior Lien
Intercreditor Agreement. The undersigned Senior Class Debt Representative (the “New Representative”) is executing this Supplement in accordance with the requirements of the Senior Debt Documents and the Second Priority Debt
Documents. 
 Accordingly, the Designated Senior Representative and the New Representative agree as follows: 

SECTION 1. In accordance with Section 8.09 of the Junior Lien Intercreditor Agreement, the New Representative by its signature below
becomes a Representative under, and the related Senior Class Debt and Senior Class Debt Parties become subject to and bound by, the Junior Lien Intercreditor Agreement as Second Priority Debt Obligations and Additional Senior Debt Parties,
respectively, with the same force and effect as if the New Representative had originally been named therein as a Representative, and the New Representative, on behalf of itself and such Senior Class Debt Parties, hereby agrees to all the terms and
provisions of the Junior Lien Intercreditor Agreement applicable to it as a Senior Representative and to the Senior Class Debt Parties that it represents as Senior Secured Parties. Each reference to a “Representative” or
“Senior Representative” in the Junior Lien Intercreditor Agreement shall be deemed to include the New Representative. The Junior Lien Intercreditor Agreement is hereby incorporated herein by reference. 

SECTION 2. The New Representative represents and warrants to the Designated Senior Representative and the other Secured Parties that
(i) it has full power and authority to enter into this Representative Supplement, in its capacity as [agent] [trustee], (ii) this Representative Supplement has been duly authorized, executed and delivered by it and constitutes its legal,
valid and binding obligation, enforceable against it in accordance with the terms of such Agreement and (iii) the Senior Debt Documents relating to such Senior Class Debt provide that, upon the New Representative’s entry into this
Agreement, the Senior Class Debt Parties in respect of such Senior Class Debt will be subject to and bound by the provisions of the Junior Lien Intercreditor Agreement as Senior Secured Parties. 

SECTION 3. This Representative Supplement may be executed in counterparts, each of which shall constitute an original, but all of which when
taken together shall constitute a single contract. This Representative Supplement shall become effective when the Designated Senior Representative shall have received a counterpart of this Representative Supplement that bears the signature of the
New Representative. Delivery of an executed signature page to this Representative Supplement by facsimile transmission or other electronic method shall be effective as delivery of a manually signed counterpart of this Representative Supplement. 

  
 Annex IV-1 

 SECTION 4. Except as expressly supplemented hereby, the Junior Lien Intercreditor Agreement shall
remain in full force and effect. 
 SECTION 5. THIS REPRESENTATIVE SUPPLEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE
LAWS OF THE STATE OF NEW YORK. 
 SECTION 6. In case any one or more of the provisions contained in this Representative Supplement
should be held invalid, illegal or unenforceable in any respect, no party hereto shall be required to comply with such provision for so long as such provision is held to be invalid, illegal or unenforceable, but the validity, legality and
enforceability of the remaining provisions contained herein and in the Junior Lien Intercreditor Agreement shall not in any way be affected or impaired. The parties hereto shall endeavor in good-faith negotiations to replace the invalid, illegal or
unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. 

SECTION 7. All communications and notices hereunder shall be in writing and given as provided in Section 8.12 of the Junior Lien
Intercreditor Agreement. All communications and notices hereunder to the New Representative shall be given to it at the address set forth below its signature hereto. 

SECTION 8. The Issuer agrees to reimburse the Designated Senior Representative for its reasonable out-of-pocket expenses in connection with
this Representative Supplement, including the reasonable fees, other charges and disbursements of counsel for the Designated Senior Representative as required by the applicable Senior Debt Documents. 

  
 Annex IV-2 

 IN WITNESS WHEREOF, the New Representative and the Designated Senior Representative have duly
executed this Representative Supplement to the Junior Lien Intercreditor Agreement as of the day and year first above written. 
  

									
	[NAME OF NEW REPRESENTATIVE],
	as [                    ] for the holders of
[                    ]
		
	By:	 	  

		 	Name:	 		 		 	
		 	Title:	 		 		 	
			
		 		 	Address for notices:
			
		 		 	  

			
		 		 	  

					
		 		 		 	Attention of:	 	  

					
		 		 		 	Telecopy:	 	  

	
	[                    ],
	as Designated Senior Representative
		
	By:	 	  

		 	Name:	 		 		 	
		 	Title:	 		 		 	

  
 Annex IV-3 

			
	Acknowledged by:
	
	ALLIED SPECIALTY VEHICLES, INC.
		
	By:	 	  

		 	Name:
		 	Title:
	
	THE GRANTORS
	LISTED ON SCHEDULE I HERETO
		
	By:	 	  

		 	Name:
		 	Title:

  
 Annex IV-4 

 Schedule I to the 

Representative Supplement to the 

Junior Lien Intercreditor Agreement 

Grantors 

  
 Annex IV-5 

 Schedule I 

Mortgaged Property 
  

			
	 Address
	  	 Owner

	 15 Compound Drive
 Hutchinson, KS 67502

 
 RENO COUNTY, KS
	  	Collins Industries, Inc.
		
	 415 W. 6th Ave.

South Hutchinson, KS 67505
  

RENO COUNTY, KS
	  	Collins Industries, Inc.
		
	 10.6 acres (approx.) N. Jefferson Street South Hutchinson, KS (property is adjacent to 415 W.
6th Ave).
  
 RENO COUNTY,
KS
	  	Collins Bus Corporation
		
	 2735, 2737 and 2778 N. Forsyth Rd.
 Winter Park,
FL 32792
  
 ORANGE COUNTY, FL
	  	Wheeled Coach Industries, Inc.
		
	 401 Capacity Drive
 Longview, TX 75604

 
 GREGG COUNTY, TX
	  	Capacity of Texas, Inc.
		
	 West Monroe Street
 Decatur, IN 46733

 
 ADAMS COUNTY, IN
	  	Goldshield Fiberglass, Inc.
		
	 2709 Patterson Street
 Decatur, IN 46733

 
 ADAMS COUNTY, IN
	  	Goldshield Fiberglass, Inc.
		
	 2004 Patterson Street
 Decatur, IN 46733

 
 ADAMS COUNTY, IN
	  	Goldshield Fiberglass, Inc.
		
	 1903 Patterson Street
 Decatur, IN 46733

 
 ADAMS COUNTY, IN
	  	Goldshield Fiberglass, Inc.
		
	 1031 US 224 E
 Decatur, IN 46733

 
 ADAMS COUNTY, IN
	  	Fleetwood RV, Inc.
		
	 1802 Winchester Street
 Decatur, IN 46733

 
 ADAMS COUNTY, IN
	  	Fleetwood RV, Inc.

  
 Schedule I 

			
	 Address
	  	 Owner

	 1803 Winchester Street
 Decatur, IN 46733

 
 ADAMS COUNTY, IN
	  	Fleetwood RV, Inc.
		
	 1410 / 1420 Patterson Street
 Decatur, IN
46733
  
 ADAMS COUNTY, IN
	  	Fleetwood RV, Inc.
		
	 1010 Commerce Drive
 Decatur, IN 46733

 
 ADAMS COUNTY, IN
	  	Fleetwood RV, Inc.
		
	 1701 SW 37th Avenue

Ocala, FL 34744
  

MARION COUNTY, FL
	  	E-ONE, Inc.
		
	 1601 SW 37th Avenue

Ocala, FL 34744
  

MARION COUNTY, FL
	  	E-ONE, Inc.
		
	 2929 SW 57th Avenue

Ocala, FL 34744
  

MARION COUNTY, FL
	  	E-ONE, Inc.
		
	 3611 SW 20th Street

Ocala, FL 34474
  

MARION COUNTY, FL
	  	E-ONE, Inc.
		
	 3800 McDowell Road
 Grove City, OH 43123

 
 FRANKLIN COUNTY, OH
	  	Halcore Group, Inc.
		
	 331 Graham Road
 Imlay City, MI 48444-0158

 
 LAPEER COUNTY, MI
	  	Champion Bus, Inc.
		
	 9670 Galena Street
 Riverside, CA 92509

 
 RIVERSIDE COUNTY, CA
	  	ElDorado National (California), Inc.
		
	 1655 Wall Street
 Salina, KS 67401

 
 SALINE COUNTY, KS
	  	ELDORADO NATIONAL (KANSAS), INC.
		
	 25161 Leer Drive
 Elkhart, IN 46514

 
 ELKHART COUNTY, IN
	  	Goshen Coach Inc.
		
	 Lot 18 Park Six Court
 Elkhart, IN 46514

 
 ELKHART COUNTY, IN
	  	Goshen Coach Inc. (f/k/a GC Bus Acquisition Corp.)

  
 Schedule I-2

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