Document:

Credit Agreement, dated as of May 25, 2011

 Exhibit 10.2 
 Execution Version 
 U.S. $1,500,000,000  

CREDIT AGREEMENT 
 Dated as of May 25, 2011 
 Among  

APPLIED MATERIALS, INC. 
 as Borrower  
 THE INITIAL LENDERS NAMED HEREIN 

as Initial Lenders 

and 
 JPMORGAN
CHASE BANK, N.A., 
 as Administrative Agent 

 
  

MORGAN STANLEY SENIOR FUNDING, INC. 
 CITIBANK, N.A. 
 THE BANK OF TOKYO-MITSUBISHI UFJ, LTD. 

Syndication Agents, 
 BNP PARIBAS 
 GOLDMAN SACHS BANK USA 

Documentation Agents 
 J.P. MORGAN SECURITIES LLC 
 MORGAN STANLEY SENIOR FUNDING, INC.

 CITIGROUP GLOBAL MARKETS INC. 
 and 
 THE BANK OF TOKYO-MITSUBISHI UFJ, LTD. 

Joint Lead Arrangers and Joint Bookrunners 

 TABLE OF CONTENTS 

 
  

 

							
	 	  	 	  	PAGE	 
	
	ARTICLE 1	  
	DEFINITIONS AND ACCOUNTING TERMS	  
			
	Section 1.01.	  	Certain Defined Terms	  	 	1	  
	Section 1.02.	  	Computation of Time Periods	  	 	18	  
	Section 1.03.	  	Accounting Terms	  	 	18	  
	
	ARTICLE 2	  
	THE CREDITS	  
			
	Section 2.01.	  	Commitments	  	 	19	  
	Section 2.02.	  	Loans and Borrowing	  	 	19	  
	Section 2.03.	  	Requests for Borrowings	  	 	20	  
	Section 2.04.	  	Letters of Credit	  	 	20	  
	Section 2.05.	  	Funding Borrowings	  	 	25	  
	Section 2.06.	  	Interest Elections	  	 	26	  
	Section 2.07.	  	Termination and Reduction of Commitments	  	 	27	  
	Section 2.08.	  	Repayment of Loans; Evidence of Debt	  	 	28	  
	Section 2.09.	  	Prepayment of Loans	  	 	29	  
	Section 2.10.	  	Fees	  	 	29	  
	Section 2.11.	  	Interest	  	 	30	  
	Section 2.12.	  	Alternate Rate of Interest	  	 	31	  
	Section 2.13.	  	Increased Costs; Illegality	  	 	32	  
	Section 2.14.	  	Break Funding Payments	  	 	34	  
	Section 2.15.	  	Taxes	  	 	34	  
	Section 2.16.	  	Payment Generally; Pro Rata Treatment; Sharing of Set-offs	  	 	37	  
	Section 2.17.	  	Mitigation Obligations; Replacement of Lenders	  	 	39	  
	Section 2.18.	  	Defaulting Lenders	  	 	40	  
	Section 2.19.	  	Increase in the Aggregate Commitments	  	 	43	  
	Section 2.20.	  	Extension of Termination Date	  	 	45	  
	
	ARTICLE 3	  
	CONDITIONS TO EFFECTIVENESS AND CREDITS	  
			
	Section 3.01.	  	Conditions Precedent to Effectiveness of Commitments	  	 	48	  
	Section 3.02.	  	Existing Credit Agreement	  	 	50	  
	Section 3.03.	  	Conditions Precedent to Each Borrowing, Issuance, Commitment Increase and Extension Date	  	 	50	  
	Section 3.04.	  	Determinations Under Section 3.01	  	 	51	  

  
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	ARTICLE 4	  
	REPRESENTATIONS AND WARRANTIES	  
			
	Section 4.01.	  	Representations and Warranties of the Borrower	  	 	51	  
	
	ARTICLE 5	  
	COVENANTS OF THE BORROWER	  
			
	Section 5.01.	  	Affirmative Covenants	  	 	54	  
	Section 5.02.	  	Negative Covenants	  	 	58	  
	Section 5.03.	  	Financial Covenant	  	 	62	  
	
	ARTICLE 6	  
	EVENTS OF DEFAULT	  
			
	Section 6.01.	  	Events of Default	  	 	63	  
	
	ARTICLE 7	  
	THE ADMINISTRATIVE AGENT	  
	
	ARTICLE 8	  
	MISCELLANEOUS	  
			
	Section 8.01.	  	Notices	  	 	68	  
	Section 8.02.	  	Waivers; Amendments	  	 	69	  
	Section 8.03.	  	Expenses; Indemnity; Damage Waiver	  	 	70	  
	Section 8.04.	  	Successors and Assigns	  	 	72	  
	Section 8.05.	  	Survival	  	 	77	  
	Section 8.06.	  	Counterparts; Integration; Effectiveness	  	 	77	  
	Section 8.07.	  	Severability	  	 	77	  
	Section 8.08.	  	Right of Set-off	  	 	77	  
	Section 8.09.	  	Governing Law; Jurisdiction; Consent to Service of Process	  	 	78	  
	Section 8.10.	  	Waiver of Jury Trial	  	 	79	  
	Section 8.11.	  	Headings	  	 	79	  
	Section 8.12.	  	Confidentiality	  	 	79	  
	Section 8.13.	  	USA Patriot Act	  	 	80	  
	Section 8.14.	  	No Fiduciary Duty	  	 	80	  
			
	Schedules	  		  			
		
	 Schedule 2.01 – Commitments
	  			
		
	 Schedule 2.04 – Issuing Banks
	  			
		
	 Schedule 5.02(a) – Existing Liens
	  			

  
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 Exhibits 
  

					
	Exhibit A	 	-	  	Form of Assignment and Assumption
			
	Exhibit B	 	-	  	Form of Notice of Borrowing
			
	Exhibit C	 	-	  	Form of Interest Election Request
			
	Exhibit D	 	-	  	Form of Section 2.15(e) Certificate
			
	Exhibit E	 	-	  	Form of Opinion of Vice President, Legal Affairs of the Borrower
			
	Exhibit F	 	-	  	Form of Opinion of Dewey & LeBoeuf LLP
			
	Exhibit G	 	-	  	Form of Opinion of Vice President, Legal Affairs of the Borrower (Commitment Increase)

  
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 CREDIT AGREEMENT dated as of May 25, 2011 among APPLIED MATERIALS, INC., a Delaware
corporation (the “Borrower”), the banks, financial institutions and other institutional lenders (the “Initial Lenders”) listed on the signature pages hereof, and JPMORGAN CHASE BANK, N.A. (“JPMCB”),
as Administrative Agent. 
 The Borrower has requested that the Lenders, on the terms and subject to the conditions set forth
herein, extend credit to the Borrower to enable it to borrow on a revolving credit basis on and after the date hereof and at any time and from time to time prior to the latest Termination Date (as defined below) a principal amount not in excess of
$1,500,000,000 (as such amount may be increased pursuant to Section 2.19). The proceeds of such borrowings are to be used for general corporate purposes (including, without limitation, commercial paper backstop, acquisitions and share
repurchases). The Lenders are willing to extend such credit on the terms and subject to the conditions herein set forth. 

Accordingly, the parties hereto agree as follows: 
 ARTICLE 1 
 DEFINITIONS AND ACCOUNTING
TERMS 
 Section 1.01. Certain Defined Terms. As used in this Agreement, the following terms shall
have the following meanings (such meanings to be equally applicable to both the singular and plural forms of the terms defined): 
 “ABR” when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, are bearing interest at a rate determined by reference to the
Alternate Base Rate. 
 “Adjusted LIBO Rate” means, with respect to any Eurodollar Borrowing for any Interest
Period, an interest rate per annum (rounded upwards, if necessary, to the next 1/16 of 1%) equal to (a) the LIBO Rate for such Interest Period multiplied by (b) the Statutory Reserve Rate. 

“Administrative Agent” means JPMorgan Chase Bank, N.A., in its capacity as administrative agent for the Lenders
hereunder. 
 “Administrative Questionnaire” means an Administrative Questionnaire in a form supplied by the
Administrative Agent. 
 “Affected Lender” shall mean any Lender whose credit ratings from Moody’s and
S&P fall below *** or ***, respectively, but only if the Borrower 

  
  

	***	INFORMATION HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS.

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notifies the Administrative Agent of Borrower’s designation of such Lender as an “Affected Lender” hereunder. 

“Affiliate” means, as to any Person, any other Person that, directly or indirectly, controls, is controlled by or is
under common control with such Person (but excluding, for purposes of Section 5.02(f), the Borrower or any Subsidiary). For purposes of this definition, the term “control” (including the terms “controlling”, “controlled
by” and “under common control with”) of a Person means the possession, direct or indirect, of the power to vote, for purposes of Section 5.02(f) 10%, and for all other purposes 5%, or more of the Voting Stock of such Person or to
direct or cause the direction of the management and policies of such Person, whether through the ownership of Voting Stock, by contract or otherwise. 
 “Agent” means the Administrative Agent and each of the Persons listed on the cover page to this Agreement as a Syndication Agent or a Documentation Agent, in such capacity. 

“Alternate Base Rate” means, for any day, a rate per annum equal to the greatest of (a) the
Prime Rate in effect on such day, (b) the Federal Funds Effective Rate in effect on such day plus
 1/2 of 1% and (c) the Adjusted LIBO Rate
for a one month Interest Period on such day (or if such day is not a Business Day, the immediately preceding Business Day) plus 1%; provided that, for the avoidance of doubt, the Adjusted LIBO Rate for any day shall be based on the rate
appearing on the Reuters BBA LIBOR Rates Page LIBOR01 (or on any successor or substitute page of such page) at approximately 11:00 a.m. London time on such day. Any change in the Alternate Base Rate due to a change in the Prime Rate, the
Federal Funds Effective Rate or the Adjusted LIBO Rate shall be effective from and including the effective date of such change in the Prime Rate, the Federal Funds Effective Rate or the Adjusted LIBO Rate, respectively. 

“Applicable Lending Office” means, with respect to each Lender, such Lender’s Domestic Lending Office in the case
of ABR Borrowings and such Lender’s Eurodollar Lending Office in the case of Eurodollar Borrowings. 
 “Applicable
Margin” means, as of any date, a percentage per annum determined by reference to the Public Debt Rating in effect on such date as set forth below: 
  

					
	 Public Debt Rating

S&P/Moody’s
	  	 Applicable Margin for

ABR Loans
	  	 Applicable Margin for

Eurodollar Loans

			
	 Level 1
 A+/A1 or
above
	  	***	  	***

  
  

	***	INFORMATION HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS.

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	 Public Debt Rating

S&P/Moody’s
	  	 Applicable Margin for

ABR Loans
	  	 Applicable Margin for

Eurodollar Loans

			
	 Level 2

A/A2
	  	***	  	***
			
	 Level 3

A-/A3
	  	***	  	***
			
	 Level 4

BBB+/Baa1
	  	***	  	***
			
	 Level 5
 Lower than
Level 4 or unrated
	  	***	  	***

 “Applicable
Percentage” means, with respect to any Lender, the percentage of the total Commitments represented by such Lender’s Commitment, as adjusted from time to time in accordance with Section 2.18. If the Commitments have terminated or
expired in their entirety, the Applicable Percentages shall be determined based upon the Commitments most recently in effect, giving effect to any assignments. 
 “Applicable Rate” means, as of any date, a percentage per annum determined by reference to the Public Debt Rating in effect on such date as set forth below: 

 

			
	 Public Debt Rating

S&P/Moody’s
	  	 Applicable

Rate

		
	 Level 1

A+/A1 or above
	  	***
		
	 Level 2

A/A2
	  	***
		
	 Level 3

A-/A3
	  	***
		
	 Level 4

BBB+/Baa1
	  	***
		
	 Level 5

Lower than Level 4 or unrated
	  	***

 “Approved
Fund” has the meaning assigned to such term in Section 8.04. 
 “Arranger” means each of the
Persons listed on the cover page of this Agreement as a Joint Lead Arranger and Joint Bookrunner. 

  
  

	***	INFORMATION HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS.

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 “Assignment and Assumption” means an assignment and assumption entered into
by a Lender and an assignee (with the consent of any party whose consent is required by Section 8.04), and accepted by the Administrative Agent, in the form of Exhibit A or any other form approved by the Administrative Agent.

 “Assuming Lender” has the meaning specified in Section 2.19(d). 

“Assumption Agreement” has the meaning specified in Section 2.19(d)(ii). 

“Availability Period” means the period from and including the Effective Date to but excluding the Termination Date.

 “Benefit Arrangement” means at any time an employee benefit plan within the meaning of Section 3(3) of
ERISA which is not a Plan or a Multiemployer Plan and which is maintained or otherwise contributed to by any member of the ERISA Group. 
 “Board” means the Board of Governors of the Federal Reserve System of the United States of America. 
 “Borrower” has the meaning assigned to such term in the preamble to this Agreement. 
 “Borrowing” means Loans of the same Type made, converted or continued on the same date and, in the case of Eurodollar Loans, as to which a single Interest Period is in effect. 

“Borrowing Request” means a request by the Borrower for a Borrowing in accordance with Section 2.03. 

“Business Day” means any day that is not a Saturday, Sunday or other day on which commercial banks in New York City are
authorized or required by law to remain closed; provided that, when used in connection with a Eurodollar Loan, the term “Business Day” shall also exclude any day on which banks are not open for dealings in dollar deposits in
the London interbank market. 
 “Capitalized Lease” means any lease the obligation for rentals with respect to
which is required to be capitalized on a Consolidated balance sheet of the lessee and its Subsidiaries in accordance with GAAP. 

“Capitalized Rentals” of any Person means at any date the amount at which the aggregate rentals due and to become due
under all Capitalized Leases under which such Person is a lessee would be reflected as a liability on a Consolidated balance sheet of such Person. 
 “Cash Collateralize” means to post cash collateral in accordance with Section 2.04(j). 

  
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 “Change in Law” means (a) the adoption of any law, rule or regulation
after the date of this Agreement, (b) any change in any law, rule or regulation or in the interpretation or application thereof by any Governmental Authority after the date of this Agreement or (c) compliance by any Lender or Issuing Bank
(or, for purposes of Section 2.13(b), by any lending office of such Lender or by such Lender’s or Issuing Bank’s holding company, if any) with any request, guideline or directive (whether or not having the force of law) of any
Governmental Authority made or issued after the date of this Agreement; provided, however, 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 in Tax Law” means the enactment, promulgation, execution or ratification of, or any change in or
amendment to, any law (including the Code), treaty, regulation or rule (or in the official application or interpretation of any law, treaty, regulation or rule, including a holding, judgment or order by a court of competent jurisdiction)
relating to United States income taxation. 
 “Code” means the Internal Revenue Code of 1986, as amended
from time to time. 
 “Commitment” means as to any Lender (a) the amount set forth opposite such
Lender’s name on Schedule 2.01, (b) if such Lender has become a Lender hereunder pursuant to an Assumption Agreement, the amount set forth in such Assumption Agreement or (c) if such Lender has entered into an Assignment and
Assumption, the amount set forth for such Lender in the Register maintained by the Agent pursuant to Section 8.04, as such amount may be reduced pursuant to Section 2.07 or increased pursuant to Section 2.19. 

“Commitment Date” has the meaning specified in Section 2.19(b). 

“Commitment Increase” has the meaning specified in Section 2.19(a). 

“Consenting Lender” has the meaning specified in Section 2.20(b). 

“Consolidated” refers to the consolidation of accounts in accordance with GAAP. 

“Consolidated Debt” means all Debt of the Borrower and its Subsidiaries, determined in accordance with GAAP on a
consolidated basis after eliminating intercompany items. 

  
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 “Consolidated Net Tangible Assets” means, at any date, the total amount of
all Tangible Assets of the Borrower and its Subsidiaries after deducting therefrom all liabilities which in accordance with GAAP would be included on their consolidated balance sheet, except Consolidated Debt. 

“Consolidated Total Assets” means, at any date, the total assets of the Borrower and its Subsidiaries on a consolidated
basis determined in accordance with GAAP. 
 “Credit Exposure” means, with respect to any Lender at any time,
the sum of such Lender’s Loan Exposure and LC Exposure at such time. 
 “Debt” of any Person means,
without duplication, (a) all Indebtedness of such Person for borrowed money, (b) all obligations of such Person for the deferred and unpaid purchase price of property or services (other than trade payables and accrued expenses incurred in
the ordinary course of such Person’s business), (c) all Indebtedness of such Person evidenced by notes, bonds, debentures or other similar evidences of indebtedness, (d) all obligations of such Person created or arising under any
conditional sale or other title retention agreement with respect to property acquired by such Person (even though the rights and remedies of the seller or lender under such agreement in the event of default are limited to repossession or sale of
such property) including, without limitation, obligations secured by Liens arising from the sale or transfer of notes or accounts receivable; provided that Debt shall not include any sale or transfer of notes or accounts receivable whether or
not precautionary Liens are filed or recorded in connection with such sale or transfer of such notes or accounts receivable, if and only if such sale or transfer (A) is accounted for as true sale under GAAP and (B) pursuant to which there
is no recourse (other than recourse for breach of customary representations and warranties or in connection with any such sales or transfers) to the seller of such notes or accounts receivable (as evidenced by there being no accounting reserve taken
or required to be taken, which in the event a reserve is taken, the amount of Debt shall be deemed to be the amount of such reserve), and provided, further, that all trade payables and accrued expenses constituting current liabilities shall
be excluded, (e) all Capitalized Rentals, (f) reimbursement obligations of such Person in respect of credit enhancement instruments, which reimbursement obligations are then due and payable by such Person, (g) all Debt of others
referred to in clauses (a) through (f) above or clause (h) below guaranteed directly or indirectly in any manner by such Person, or in effect guaranteed directly or indirectly by such Person through an agreement (1) to pay or
purchase such Debt or to advance or supply funds for the payment or purchase of such Debt, (2) to purchase, sell or lease (as lessee or lessor) property, or to purchase or sell services, primarily for the purpose of enabling the debtor to make
payment of such Debt or to assure the holder of such Debt against loss, (3) to supply funds to or in any other manner invest in the debtor (including any agreement to pay for property or services irrespective of whether such property is
received or such services are rendered) or (4) otherwise to assure a creditor against loss, and (h) all Debt referred to in 

  
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clauses (a) through (g) above secured by (or for which the holder of such Debt has an existing right, contingent or otherwise, to be secured by) any Lien on property (including, without
limitation, accounts and contract rights) owned by such Person, even though such Person has not assumed or become liable for the payment of such Debt, including, without limitation, obligations secured by Liens arising from the sale or transfer of
notes, accounts receivable or other assets; provided, however, that so long as such Person is not personally liable for such Debt, the amount of such Debt shall be deemed to be the lesser of the fair market value at such date of the property
subject to the Lien securing such liability and the amount of the liability secured; provided further, that obligations of such Person secured by Liens on notes, accounts receivable or other assets sold or transferred in a transaction which
is accounted for as a true sale under GAAP shall not be Debt under this definition. 
 The Borrower’s obligations under
operating leases and Off-Balance Sheet Leases shall be excluded from this definition of Debt; provided that (A) no such exclusion shall be made if and to the extent that GAAP would require such obligations to be classified as debt for
borrowed money and (B) in any event the term “Debt” shall include the Excess Lease Financed Amount (if any). 

“Default” means any Event of Default or any event that would constitute an Event of Default but for the requirement that
notice be given or time elapse or both. 
 “Defaulting Lender” means any Lender, as reasonably determined by
the Administrative Agent, that has (a) failed to comply with its obligation to fund any portion of its Loans or any portion of its participation in Letters of Credit as required hereunder, unless such requirement to fund is subject to a good
faith dispute, (b) notified the Borrower or the Administrative Agent in writing that it does not intend to comply with any of its funding obligations under this Agreement (unless such requirement to fund is subject to a good faith dispute), or
has made a public statement to the effect that it does not intend to comply with its funding obligations under this Agreement (unless such requirement to fund is subject to a good faith dispute), (c) failed, within three Business Days after
written request by the Administrative Agent, to confirm that it will comply with the terms of this Agreement relating to its obligations to fund prospective Loans and participations in then outstanding Letters of Credit under this Agreement;
provided that any such Lender shall cease to be a Defaulting Lender under this clause (c) upon receipt of such confirmation by the Administrative Agent, (d) otherwise failed to pay over to the Administrative Agent or any other
Lender any other amount required to be paid by it hereunder within three Business Days of the date when due unless the subject of a good faith dispute, or (e) (i) has been or has a parent company that has been adjudicated as, or determined
by any Governmental Authority having regulatory authority over such Person or its assets to be, insolvent or (ii) become the subject of a bankruptcy or insolvency proceeding, or has had a receiver, conservator, trustee, administrator, assignee
for the benefit of creditors or similar Person charged with reorganization or 

  
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liquidation of its business or custodian, appointed for it, or has taken any action in furtherance of, or indicating its consent to, approval of or acquiescence in any such proceeding or
appointment or has a parent company that has become the subject of a bankruptcy or insolvency proceeding, or has had a receiver, conservator, trustee, administrator, assignee for the benefit of creditors or similar Person charged with reorganization
or liquidation of its business or custodian appointed for it, or has taken any action in furtherance of, or indicating its consent to, approval of or acquiescence in any such proceeding or appointment; provided that a Lender shall not be a
Defaulting Lender solely by virtue of the ownership or acquisition of an equity interest in such Lender or a parent company thereof by a Governmental Authority or an instrumentality thereof. 

“dollars” or “$” refers to lawful money of the United States of America. 

“Domestic Lending Office” means, with respect to any Lender, the office of such Lender specified as its “Domestic
Lending Office” in such Lender’s Administrative Questionnaire, or such other office of such Lender as such Lender may from time to time notify the Borrower and the Administrative Agent. 

“Effective Date” has the meaning specified in Section 3.01. 

“Eligible Assignee” means (i) a Lender; (ii) an Affiliate of a Lender; and (iii) any other Person that
(x) is approved by each Issuing Bank and (y) so long as no Default has occurred and is continuing, has a rating for any class of non-credit enhanced long-term senior unsecured debt of not lower than A by S&P or A2 by Moody’s and
is approved by the Borrower, such approval not to be unreasonably withheld or delayed; provided, however, that none of the Borrower, an Affiliate of the Borrower or a Defaulting Lender shall qualify as an Eligible Assignee. 

“Environmental Action” means any action, suit, demand, demand letter, claim, notice of non-compliance or violation,
notice of liability or potential liability, investigation, proceeding, consent order or consent agreement relating in any way to any Environmental Law, Environmental Permit or Hazardous Substances or arising from alleged injury or threat of injury
to health, safety or the environment, including, without limitation, (a) by any governmental or regulatory authority for enforcement, cleanup, removal, response, remedial or other actions or damages and (b) by any governmental or
regulatory authority or any third party for damages, contribution, indemnification, cost recovery, compensation or injunctive relief. 
 “Environmental Laws” means any and all federal, state, local and foreign statutes, laws, regulations, ordinances, rules, judgments, orders, decrees, injunctions and other governmental
restrictions relating to the environment or the effect of the environment on human health or to emissions, discharges or releases of pollutants, contaminants, Hazardous Substances or wastes into the environment

  
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including, without limitation, ambient air, surface water, ground water or land, or otherwise relating to the manufacture, processing, distribution, use, treatment, storage, disposal, transport
or handling of pollutants, contaminants, Hazardous Substances or wastes or the clean-up or other remediation thereof. 

“Environmental Permit” means any permit, approval, identification number, license or other authorization required under
any Environmental Law. 
 “ERISA” means the Employee Retirement Income Security Act of 1974, as amended, or any
successor statute. 
 “ERISA Affiliate” means any member of the ERISA Group. 

“ERISA Group” means the Borrower, any Subsidiary and all members of a controlled group of corporations and all trades or
businesses (whether or not incorporated) under common control which, together with the Borrower or any Subsidiary, are treated as a single employer under Section 414 of the Internal Revenue Code. 

“Eurodollar,” when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such
Borrowing, are bearing interest at a rate determined by reference to the Adjusted LIBO Rate. 
 “Eurodollar Lending
Office” means, with respect to any Lender, the office of such Lender specified as its “Eurodollar Lending Office” in such Lender’s Administrative Questionnaire (or, if no such office is specified, its Domestic Lending
Office), or such other office of such Lender as such Lender may from time to time notify the Borrower and the Administrative Agent. 
 “Events of Default” has the meaning specified in Section 6.01. 
 “Excess Lease Financed Amount” means the amount (if any) by which the Lease Financed Amount exceeds (a) *** at any time when the Borrower’s Public Debt Rating is lower than
BBB+ by S&P and Baa1 by Moody’s or (b) *** at any time when the Borrower’s Public Debt rating is at least BBB+ by S&P or Baa1 by Moody’s. 
 “Excluded Taxes” means, with respect to the Administrative Agent, any Lender, any Issuing Bank or any other recipient of any payment to be made by or on account of any obligation of the
Borrower hereunder or under any of the other Loan Documents, (a) income or franchise taxes in each case imposed on (or measured by) its net income by (i) the United States of America, (ii) the jurisdiction under the laws of which such
recipient is organized or in which its principal office is located, or (iii) in the case of any Lender, the jurisdiction in which its Applicable Lending Office is located, (b) any Taxes imposed, deducted

  
  

	***	INFORMATION HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS.

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or withheld by reason of any present or former connection between the Administrative Agent or such Lender or other recipient (as the case may be) and the jurisdiction imposing such Taxes (other
than solely on account of the execution and performance of, the enforcement of any right under or the receipt of any payment under, this Agreement or any of the other Loan Documents), (c) any branch profits taxes imposed by the United States of
America or any comparable tax imposed by any foreign jurisdiction, (d) in the case of a Foreign Lender, any Tax imposed, deducted or withheld (i) that is attributable to such Foreign Lender’s failure, inability or ineligibility at any
time during which such Foreign Lender is a party to this Agreement to deliver the Internal Revenue Service forms and the Section 2.15(e) Certificate (as applicable) described in Section 2.15(e) certifying that such Foreign Lender is
entitled to complete exemption from United States withholding taxation, except to the extent such Foreign Lender’s failure is due to a Change in Tax Law occurring after the date on which such Foreign Lender became a party to this Agreement or
the date (if any) on which such Foreign Lender changed its Applicable Lending Office, or (ii) that is imposed on accrued amounts payable to such Foreign Lender at the time of the assignment to such Foreign Lender and its becoming a party to
this Agreement, except to the extent that such Foreign Lender’s assignor was entitled, at the time of such assignment, to receive additional payments from the Borrower with respect to such accrued amounts pursuant to Section 2.15(a)
and(e) taxes resulting from FATCA. 
 “Existing Credit Agreement” means the Credit Agreement dated as of
January 26, 2007 among the Borrower, the lenders party thereto, and Citigroup USA, Inc., as administrative agent, as amended. 
 “Extension Date” has the meaning specified in Section 2.20(b). 
 “FATCA” means Sections 1471 through 1474 of the Code, as of the date of this Agreement (or any amended versions of Sections 1471 through 1474 of the Code that are substantively comparable
and not materially more onerous to comply with) and any regulations or official interpretations thereof. 
 “Federal
Funds Effective Rate” means, for any day, the weighted average (rounded upwards, if necessary, to the next 1/100 of 1%) of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by
Federal funds brokers, as published on the next succeeding Business Day by the Federal Reserve Bank of New York, or, if such rate is not so published for any day that is a Business Day, the average (rounded upwards, if necessary, to the
next 1/100 of 1%) of the quotations for such day for such transactions received by the Administrative Agent from three Federal funds brokers of recognized standing selected by it. 

“Fee Letter” means, collectively, the respective fee letters between the Borrower and the Arrangers relating to this
Agreement. 

  
 10 

 “Foreign Lender” means any Lender that is not a United States Person.

 “Funded Debt” means, with respect to any Person for such Person and its Subsidiaries, determined on a
consolidated basis in accordance with GAAP, at the time of determination, the sum of the outstanding principal amount of all Debt which would be reflected as liabilities on the balance sheet of such Person, other than the following items which shall
not be included in Funded Debt: (a) Debt or other obligations of others guaranteed by such Person and its Subsidiaries; (b) all reimbursement obligations (whether contingent or otherwise) in respect of the undrawn portion of letters of
credit, bankers’ acceptances, surety or other bonds, and similar instruments (including, without limitation, those outstanding with respect to letters of credit); and (c) all liabilities in respect of unfunded vested benefits under any
Plan. 
 “GAAP” means at any time generally accepted accounting principles as then in effect, applied on a
basis consistent (except for changes concurred in by the Borrower’s independent public accountants) with the most recent audited consolidated financial statements of the Borrower and its Subsidiaries delivered to the Lenders; provided
that, if the Borrower notifies the Agent that the Borrower wishes to amend any covenant in Article V or any definition of a term used in any such covenant to eliminate the effect of any change in generally accepted accounting principles on the
operation of such covenant (or if the Agent (with the consent or at the direction of the Required Lenders) notifies the Borrower that it wishes to amend any such covenant or definition for such purpose), then, for purposes of such covenant or
definition only, “GAAP” shall mean GAAP as in effect immediately before the relevant change in generally accepted accounting principles became effective, until either such notice is withdrawn or such covenant or definition is amended in a
manner satisfactory to the Borrower and the Required Lenders. 
 “Governmental Authority” means the government
of the United States of America, any other nation or any political subdivision thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative,
judicial, taxing, regulatory or administrative powers or functions of or pertaining to government. 
 “Hazardous
Substances” means any substance or waste defined as “toxic” or “hazardous” under any Environmental Laws, including, without limitation, petroleum, its derivatives, by-products and other hydrocarbons. 

“Hedge Agreements” means interest rate swap, cap or collar agreements, interest rate future or option contracts,
currency swap agreements, currency future or option contracts and other similar agreements. 
 “Increase Date”
has the meaning specified in Section 2.19(a). 
 “Increasing Lender” has the meaning specified in
Section 2.19(b). 

  
 11 

 “Indebtedness” of any Person means and includes all obligations of such
Person which in accordance with GAAP should be classified upon a balance sheet of such Person as liabilities of such Person. 

“Indemnified Taxes” means Taxes other than Excluded Taxes. 

“Intangible Assets” means at any date the total amount of all assets of the Borrower and its Subsidiaries that are
properly classified as “intangible assets” in accordance with GAAP and, in any event, shall include, without limitation, goodwill, patents, trade names, trademarks, copyrights, franchises, experimental expense, organization expense,
unamortized debt discount and expense, and deferred charges other than prepaid insurance, prepaid leases and prepaid taxes and current deferred taxes which are classified on the balance sheet of the Borrower and its Subsidiaries as a current asset
in accordance with GAAP and in which classification the Borrower’s independent public accountants concur; provided that the foregoing Intangible Assets shall be deemed to be in an amount equal to zero at all times during which such
Intangible Assets, in the aggregate, are less than 2% of stockholders’ equity of the Borrower. 
 “Interest
Election Request” means a request by the Borrower to convert or continue a Borrowing in accordance with Section 2.07. 
 “Interest Payment Date” means (a) with respect to any ABR Loan, the last day of each March, June, September and December and (b) with respect to any Eurodollar Loan, the last
day of the Interest Period applicable to the Borrowing of which such Loan is a part. 
 “Interest Period” means
the period commencing on the date of such Borrowing and ending on the numerically corresponding day in the calendar month that is one, two or three months thereafter, as the Borrower may elect; provided that (i) if any Interest Period
would end on a day other than a Business Day, such Interest Period shall be extended to the next succeeding Business Day unless such next succeeding Business Day would fall in the next calendar month, in which case such Interest Period shall end on
the next preceding Business Day and (ii) any Interest Period that commences on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the last calendar month of such Interest Period) shall
end on the last Business Day of the last calendar month of such Interest Period. For purposes hereof, the date of a Borrowing initially shall be the date on which such Borrowing is made and thereafter shall be the effective date of the most recent
conversion or continuation of such Borrowing. 
 “Issuing Bank” means the Persons listed on Schedule 2.04 and
any other Lender that may agree to issue Letters of Credit hereunder as provided in Section 2.04(i), in each case in its capacity as an issuer of Letters of Credit hereunder. An Issuing Bank may, in its discretion, arrange for one or more
Letters of Credit to be issued by Affiliates of such Issuing Bank reasonably acceptable to the Borrower, 

  
 12 

 
in which case the term “Issuing Bank” shall include any such Affiliate with respect to Letters of Credit issued by such Affiliate. 

“LC Commitment” means, with respect to each Issuing Bank, the commitment of such Issuing Bank to issue Letters of Credit
pursuant to Section 2.04. The initial amount of each Issuing Bank’s LC Commitment is set forth on Schedule 2.04. 

“LC Disbursement” means a payment made by the Issuing Bank pursuant to a Letter of Credit. 

“LC Exposure” means, at any time, the sum of (a) the aggregate undrawn amount of all outstanding Letters of Credit
at such time plus (b) the aggregate amount of all LC Disbursements that have not yet been reimbursed by or on behalf of the Borrower at such time. The LC Exposure of any Lender at any time shall be its Applicable Percentage of the total LC
Exposure at such time. 
 “Lease Financed Amount” means, with respect to Off-Balance Sheet Leases, the
outstanding principal amount of the loan attributable to such Off-Balance Sheet Lease. 
 “Lenders” means the
Persons listed on Schedule 2.01 and any other Person that shall have become a party hereto pursuant to an Assignment and Assumption or an Assumption Agreement, other than any such Person that ceases to be a party hereto pursuant to an
Assignment and Assumption. 
 “Letter of Credit” means any letter of credit issued pursuant to this Agreement.

 “LIBO Rate” means, with respect to any Eurodollar Borrowing for any Interest Period, the rate per annum
equal to the British Bankers Association LIBOR Rate (“BBA LIBOR”) from LIBOR01 Page, as published by Reuters (or other commercially available source providing quotations of BBA LIBOR as 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, as the rate for dollar deposits with a maturity comparable to such Interest Period. In the event that such rate is not
available at such time for any reason, then the “LIBO Rate” with respect to such Eurodollar Borrowing for such Interest Period shall be the rate at which dollar deposits of $5,000,000 and for a maturity comparable to such Interest
Period are offered by the principal London office of the Administrative Agent in immediately available funds in the London interbank market at approximately 11:00 a.m., London time, two Business Days prior to the commencement of such Interest
Period. 

  
 13 

 “Lien” means any lien, security interest or other charge or encumbrance of
any kind, or any other type of preferential arrangement, including, without limitation, the lien or retained security title of a conditional vendor and any easement, right of way or other encumbrance on title to real property. Off-Balance Sheet
Leases and the arrangements set forth therein shall be excluded from this definition; provided that: 
 (a) if any
portion of the Lease Financed Amount is included in Debt under the last sentence of the definition of Debt, then for purposes of Section 5.02(a), Off-Balance Sheet Leases and the arrangements set forth therein shall be deemed to create a Lien
securing the Excess Lease Financed Amount; and 
 (b) if Off-Balance Sheet Leases and the arrangements set forth therein create
a lien on any property or assets other than (i) the property and assets leased pursuant to Off-Balance Sheet Leases, (ii) rights of the Borrower as sublessor of any portion of such property and assets and (iii) Permitted Lease
Collateral, such lien shall not be excluded from this definition. 
 “Loan Documents” means this Agreement, the
Notes (if any), and the Fee Letter. 
 “Loan Exposure” means, with respect to any Lender at any time, the sum
of the outstanding principal amount of such Lender’s Loans at such time. 
 “Loans” means the loans made
by the Lenders to the Borrower pursuant to this Agreement. 
 “Margin Stock” means “margin stock” as
such term is defined in Regulation U. 
 “Material Adverse Effect” means any material adverse change in the
business, financial condition or operations of the Borrower or the Borrower and its Subsidiaries taken as a whole. 

“Material Debt” means Debt (other than the Note) of the Borrower and/or one or more of its Subsidiaries, arising in one
or more related or unrelated transactions, in an aggregate principal or face amount exceeding ***. 
 “Material
Financial Obligations” means a principal or face amount of Debt and/or payment obligations (calculated after giving effect to any applicable netting agreements) in respect of Hedge Agreements of the Borrower and/or one or more of its
Subsidiaries, arising in one or more related or unrelated transactions, exceeding in the aggregate ***. 

  
  

	***	INFORMATION HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS.

 14 

 “Material Plan” means, at any time, a Plan or Plans having aggregate
Unfunded Liabilities in excess of ***. 
 “Moody’s” means Moody’s Investors Service, Inc. or its
successors. 
 “Multiemployer Plan” means, at any time, an employee pension benefit plan within the meaning of
Section 4001(a)(3) of ERISA to which any member of the ERISA Group is then making or accruing an obligation to make contributions or has within the preceding five plan years made contribution, including for these purposes any Person which
ceased to be a member of the ERISA Group during such five year period. 
 “Non-Consenting Lender” has the
meaning specified in Section 2.20(b). 
 “Note” has the meaning specified in Section 2.08(e).

 “Off-Balance Sheet Leases” means one or more lease agreements and related agreements entered into by the
Borrower or any of its Subsidiaries from time to time, in each case in a transaction which the Borrower or such Subsidiary intends to be treated as an “operating lease” for financial reporting purposes but as a loan for one or more of the
following purposes: (a) federal, state and local income or franchise tax, (b) bankruptcy, (c) real estate law and (d) commercial law (including uniform commercial law). 

“Other Taxes” means any and all present or future stamp or documentary taxes or any other excise or property taxes,
charges or similar levies arising from any payment made hereunder or from the execution, delivery or enforcement of, or otherwise with respect to, the Loan Documents that are imposed by a Governmental Authority in a jurisdiction in which the
Borrower is incorporated, organized, managed and controlled or otherwise has a connection (other than solely as a result of entering into, performing any obligations, receiving any payments or enforcing any rights under, this Agreement or any of the
other Loan Documents). 
 “Participant” has the meaning assigned to such term in Section 8.04(c).

 “Participant Register” has the meaning assigned to such term in Section 8.04(c). 

“PATRIOT Act” has the meaning assigned to such term in Section 8.13. 

“PBGC” means the Pension Benefit Guaranty Corporation (or any successor). 

  
  

	***	INFORMATION HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS.

 15 

 “Permitted Lease Collateral” means any cash or cash equivalents securing
the obligations of the Borrower or its Subsidiaries in any Off-Balance Sheet Lease. 
 “Person” means an
individual, partnership, corporation (including a business trust), joint stock company, trust, unincorporated association, joint venture, limited liability company or other entity, or a government or any political subdivision or agency thereof.

 “Plan” means, at any time, an employee pension benefit plan (other than a Multiemployer Plan) which is
covered by Title IV of ERISA or subject to the minimum funding standards under Section 412 of the Internal Revenue Code and either (i) is maintained, or contributed to, by any member of the ERISA Group for employees of any member of the
ERISA Group or (ii) has at any time within the preceding five years been maintained, or contributed to, by any Person which was at such time a member of the ERISA Group for employees of any Person which was at such time a member of the ERISA
Group. 
 “Prime Rate” means the rate of interest announced publicly by JPMorgan Chase Bank, N.A. in New York,
New York, from time to time, as its Prime Rate; each change in the Prime Rate shall be effective from and including the date such change is publicly announced as being effective. 

“Public Debt Rating” means, as of any date for S&P, the lowest rating that has been most recently announced by
S&P for any class of non-credit enhanced long-term senior unsecured debt issued by the Borrower and, as of any date for Moody’s, the lowest rating that has been most recently announced by Moody’s for any class of non-credit enhanced
long-term senior unsecured debt issued by the Borrower. For purposes of the foregoing, (a) if only one of S&P and Moody’s shall have in effect a Public Debt Rating, the Applicable Margin and the Applicable Rate shall be determined by
reference to the available rating; (b) if neither S&P nor Moody’s shall have in effect a Public Debt Rating, the Applicable Margin and the Applicable Rate will be set in accordance with Level 5 under the definition of “Applicable
Margin” or “Applicable Rate”, as the case may be; (c) if the ratings established by S&P and Moody’s shall fall within different levels, the Applicable Margin and the Applicable Rate shall be based upon the higher rating
unless the such ratings differ by two or more levels, in which case the applicable level will be deemed to be one level above the lower of such levels; (d) if any rating established by S&P or Moody’s shall be changed, such change shall
be effective as of the date on which such change is first announced publicly by the rating agency making such change; and (e) if S&P or Moody’s shall change the basis on which ratings are established, each reference to the Public Debt
Rating announced by S&P or Moody’s, as the case may be, shall refer to the then equivalent rating by S&P or Moody’s, as the case may be. 
 “Register” has the meaning specified in Section 8.04. 

  
 16 

 “Regulation D” and “Regulation U” means,
respectively, Regulations D and U of the Board (or any successor), as the same may be amended or supplemented from time to time. 
 “Related Parties” means, with respect to any specified Person, such Person’s Affiliates and the respective directors, officers, employees, agents and advisors of such Person and such
Person’s Affiliates. 
 “Required Lenders” means, at any time, subject to Section 2.18(b) Lenders
having (i) Credit Exposures representing more than 50% of the total Credit Exposures or (ii) if none of the Lenders have any Credit Exposure, unused Commitments at such time representing more than 50% of the sum of the total unused
Commitments. 
 “Reportable Event” means any “reportable event” as defined in section 4043 of ERISA
for which the 30-day notice requirement has not been waived under applicable regulations. 
 “S&P” means
Standard & Poor’s, a division of The McGraw-Hill Companies, Inc. or its successors. 
 “SEC”
means the Securities and Exchange Commission. 
 “Section 2.15(e) Certificate” has the meaning assigned to
such term in Section 2.15(e). 
 “Statutory Reserve Rate” means a fraction (expressed as a decimal), the
numerator of which is the number one and the denominator of which is the number one minus the aggregate of the maximum reserve percentages (including any marginal, special, emergency or supplemental reserves) expressed as a decimal established by
the Board to which the Administrative Agent is subject with respect to the Adjusted LIBO Rate, for eurocurrency funding (currently referred to as “Eurocurrency Liabilities” in Regulation D of the Board). Such reserve
percentages shall include those imposed pursuant to such Regulation D. Eurodollar Loans shall be deemed to constitute eurocurrency funding and to be subject to such reserve requirements without benefit of or credit for proration, exemptions or
offsets that may be available from time to time to any Lender under such Regulation D or any comparable regulation. The Statutory Reserve Rate shall be adjusted automatically on and as of the effective date of any change in any reserve
percentage. 
 “Subsidiary” means, as to any Person, any corporation or other entity of which securities or
other ownership interests having ordinary voting power to elect a majority of the board of directors or other persons performing similar functions are at the time directly or indirectly owned by such Person; unless otherwise specified,
“Subsidiary” means a Subsidiary of the Borrower. 

  
 17 

 “Tangible Assets” means, at any date, Consolidated Total Assets (less
depreciation, depletion and other properly deductible valuation reserves) after deducting (but without duplication) Intangible Assets. 
 “Taxes” means any and all present or future taxes, levies, imposts, duties, deductions, charges or withholdings imposed by any Governmental Authority. 

“Termination Date” means the earlier of (a) May 25, 2015, subject to the extension thereof pursuant to
Section 2.20 and (b) the date of termination in whole of the Commitments pursuant to Section 2.07 or 6.01; provided, however, that the Termination Date of any Lender that is a Non-Consenting Lender to any requested
extension pursuant to Section 2.20 shall be the Termination Date in effect immediately prior to the applicable Extension Date for all purposes of this Agreement. 
 “Type,” when used in reference to any Loan or Borrowing, refers to whether the rate of interest on such Loan, or on the Loans comprising such Borrowing, is determined by reference to the
Adjusted LIBO Rate or the Alternate Base Rate. 
 “United States” and “United States Person”
have the meaning specified in Section 7701 of the Code. 
 “Unfunded Liabilities” means, with respect to
any Plan at any time, the amount (if any) by which (i) the value of all benefit liabilities under such Plan, determined on a plan termination basis using the assumptions prescribed by the PBGC for purposes of Section 4044 of ERISA, exceeds
(ii) the fair market value of all Plan assets allocable to such liabilities under Title IV of ERISA (excluding any accrued but unpaid contributions), all determined as of the then most recent valuation date for such Plan, but only to the extent
that such excess represents a potential liability of a member of the ERISA Group to the PBGC or any other Person under Title IV of ERISA. 
 “Voting Stock” means capital stock issued by a corporation, or equivalent interests in any other Person, the holders of which are ordinarily, in the absence of contingencies, entitled to
vote for the election of directors (or persons performing similar functions) of such Person, even if the right so to vote has been suspended by the happening of such a contingency. 

Section 1.02. Computation of Time Periods. In this Agreement in the computation of periods of time from a specified date to a
later specified date, the word “from” means “from and including” and the words “to” and “until” each mean “to but excluding”. 
 Section 1.03. Accounting Terms. All accounting terms not specifically defined herein shall be construed in accordance with GAAP. 

  
 18 

 ARTICLE 2 
 THE CREDITS 
 Section 2.01.
Commitments. Subject to the terms and conditions set forth herein, each Lender agrees to make Loans to the Borrower from time to time during the Availability Period in an aggregate principal amount that will not result in such Lender’s
Credit Exposure exceeding such Lender’s Commitment. Within the foregoing limits and subject to the terms and conditions set forth herein, the Borrower may borrow, prepay and reborrow Loans.  

Section 2.02. Loans and Borrowing. (a) Each Loan shall be made as part of a Borrowing consisting of Loans made by the
Lenders ratably in accordance with their respective Commitments. The failure of any Lender to make any Loan required to be made by it shall not relieve any other Lender of its obligations hereunder; provided that the Commitments of the
Lenders are several and no Lender shall be responsible for any other Lender’s failure to make Loans as required. 
 (b)
Subject to Section 2.12, each Borrowing shall be comprised entirely of ABR Loans or Eurodollar Loans as the Borrower may request in accordance herewith. Each Lender at its option may make any Eurodollar Loan by causing any domestic or foreign
branch or Affiliate of such Lender to make such Loan; provided that (i) any exercise of such option shall not affect the obligation of the Borrower to repay such Loan in accordance with the terms of this Agreement and (ii) in the
case of any such Loan made by an Affiliate of such Lender, such Lender shall not be entitled to receive any greater payment under Section 2.13 or 2.15 than it would have received had the Lender, and not such Affiliate, funded such Loan,
and such Lender shall not be entitled to the benefits of Section 2.15 with respect to any payments on or with respect to such Loan unless such Affiliate complies with Section 2.15(e) as if it were the Lender. 

(c) At the commencement of each Interest Period for any Eurodollar Borrowing, such Borrowing shall be in an aggregate amount that is an
integral multiple of $1,000,000 and not less than $10,000,000. At the time that each ABR Borrowing is made, such Borrowing shall be in an aggregate amount that is an integral multiple of $1,000,000 and not less than $10,000,000; provided that
an ABR Borrowing may be in an aggregate amount that is equal to the entire unused balance of the total Commitments or that is required to finance the reimbursement of an LC Disbursement as contemplated by Section 2.04(e). Borrowings of more
than one Type may be outstanding at the same time. 
 (d) Notwithstanding any other provision of this Agreement, the Borrower
shall not be entitled to request, or to elect to convert or continue, any Borrowing if the Interest Period requested with respect thereto would end after the Termination Date. 

  
 19 

 Section 2.03. Requests for Borrowings. To request a Borrowing, the Borrower
shall notify the Administrative Agent of such request by telephone (a) in the case of a Eurodollar Borrowing, not later than 1:00 p.m., New York City time, three Business Days before the date of the proposed Borrowing or (b) in the
case of an ABR Borrowing, not later than 12:00 noon, New York City time, on the date of the proposed Borrowing. Each such telephonic Borrowing Request shall be irrevocable and shall be confirmed promptly by hand delivery or telecopy to the
Administrative Agent of a written Borrowing Request in the form of Exhibit B hereto and signed by the Borrower. Each such telephonic and written Borrowing Request shall specify the following information in compliance with
Section 2.02: 
 (i) the aggregate amount of the requested Borrowing; 

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

(iii) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing; 

(iv) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period
contemplated by the definition of the term “Interest Period;” and 
 (v) the location and number of the
Borrower’s account to which funds are to be disbursed, which shall comply with the requirements of Section 2.05. 
 If
no election as to the Type of Borrowing is specified, then the requested Borrowing shall be an ABR Borrowing. If no Interest Period is specified with respect to any requested Eurodollar Borrowing, then the Borrower shall be deemed to have selected
an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan
to be made as part of the requested Borrowing. 
 Section 2.04. Letters of Credit. (a) Subject to the terms and
conditions set forth herein, the Borrower may request the issuance of Letters of Credit for (x) its own account or (y) for the account of any of its Subsidiaries, in a form reasonably acceptable to the Administrative Agent and the Issuing
Bank, at any time and from time to time during the Availability Period. In the event of any inconsistency between the terms and conditions of this Agreement and the terms and conditions of any form of letter of credit application or other agreement
submitted by the Borrower to, or entered into by the Borrower with, the Issuing Bank relating to any Letter of Credit, the terms and conditions of this Agreement shall control. It is understood and agreed that, in connection with any Letter of
Credit referred to in clause (y) above, (i) the Borrower shall be deemed to be a primary account party under, and obligated in respect of, each Letter of Credit 

  
 20 

 
issued at the request of the Borrower hereunder, notwithstanding the fact that a Subsidiary may be listed as the account party in the Letter of Credit, and (ii) the Borrower unconditionally
and irrevocably agrees that it will be fully responsible for the reimbursement of LC Disbursements, the payment of interest thereon and the payment of participation fees and other fees due hereunder to the same extent as if it were the sole account
party in respect of such Letter of Credit (the Borrower hereby irrevocably waiving any defenses that might otherwise be available to it as a guarantor of the obligations of any Subsidiary that shall be an account party in respect of any such Letter
of Credit). 
 (b) To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding
Letter of Credit), the Borrower shall hand deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank) to the Issuing Bank and the Administrative Agent (reasonably in advance of
the requested date of issuance, amendment, renewal or extension) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal
or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount of such Letter of Credit, the name and address of the beneficiary thereof and
such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Issuing Bank, the Borrower also shall submit a letter of credit application on the Issuing Bank’s standard form in
connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and
warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $400,000,000, (ii) the portion of the LC Exposure attributable to Letters of Credit issued by the applicable Issuing
Bank shall not exceed the LC Commitment of such Issuing Bank and (iii) the total Credit Exposures shall not exceed the total Commitments. 
 (c) Each Letter of Credit shall expire at or prior to the close of business on the earlier of (i) the date one year after the date of the issuance of such Letter of Credit (or, in the case of any
renewal or extension thereof, one year after such renewal or extension) and (ii) the date that is five Business Days prior to the Termination Date; provided that any Letter of Credit with a one-year tenor may provide for the renewal
thereof for additional one-year periods (which shall in no event extend beyond the date referred to in clause (ii) above). 

(d) By the issuance of a Letter of Credit (or an amendment to a Letter of Credit increasing the amount thereof) and without any further
action on the part of the Issuing Bank or the Lenders, the Issuing Bank hereby grants to each Lender, and each Lender hereby acquires from the Issuing Bank, a participation in such Letter of Credit equal to such Lender’s Applicable Percentage
of the aggregate amount available to be drawn under such Letter of Credit. In consideration and in 

  
 21 

 
furtherance of the foregoing, each Lender hereby absolutely and unconditionally agrees to pay to the Administrative Agent, for the account of the Issuing Bank, such Lender’s Applicable
Percentage of each LC Disbursement made by the Issuing Bank and not reimbursed by the Borrower on the date due as provided in paragraph (e) of this Section, or of any reimbursement payment required to be refunded to the Borrower for any reason.
Each Lender acknowledges and agrees that its obligation to acquire participations pursuant to this paragraph in respect of Letters of Credit is absolute and unconditional and shall not be affected by any circumstance whatsoever, including any
amendment, renewal or extension of any Letter of Credit or the occurrence and continuance of a Default or reduction or termination of the Commitments, and that each such payment shall be made without any offset, abatement, withholding or reduction
whatsoever. 
 (e) If the Issuing Bank shall make any LC Disbursement in respect of a Letter of Credit, the Borrower shall
reimburse such LC Disbursement by paying to the Administrative Agent an amount equal to such LC Disbursement not later than 12:00 noon, New York City time, on the date that is one Business Day after such LC Disbursement is made, if the Borrower has
received notice of such LC Disbursement prior to 10:00 a.m., New York City time, on the date of such disbursement, or, if such notice has not been received by the Borrower prior to such time on such date, then not later than 12:00 noon, New York
City time, on (i) the Business Day following the date that the Borrower receives such notice, if such notice is received prior to 10:00 a.m., New York City time, on the preceding Business Day, or (ii) the second Business Day following the
day that the Borrower receives such notice, if such notice is not received by such 10:00 a.m. on the preceding Business Day; provided that unless Borrower otherwise notifies the Administrative Agent, such payment shall be automatically
financed with an ABR Borrowing in an equivalent amount and, to the extent so financed, the Borrower’s obligation to make such payment shall be discharged and replaced by the resulting ABR Borrowing. If the Borrower fails to make such payment
when due, the Administrative Agent shall notify each Lender of the applicable LC Disbursement, the payment then due from the Borrower in respect thereof and such Lender’s Applicable Percentage thereof. Promptly following receipt of such notice,
each Lender shall pay to the Administrative Agent its Applicable Percentage of the payment then due from the Borrower, in the same manner as provided in Section 2.05 with respect to Loans made by such Lender (and Section 2.05 shall apply,
mutatis mutandis, to the payment obligations of the Lenders), and the Administrative Agent shall promptly pay to the Issuing Bank the amounts so received by it from the Lenders. Promptly following receipt by the Administrative Agent of any
payment from the Borrower pursuant to this paragraph, the Administrative Agent shall distribute such payment to the Issuing Bank or, to the extent that Lenders have made payments pursuant to this paragraph to reimburse the Issuing Bank, then to such
Lenders and the Issuing Bank as their interests may appear. Any payment made by a Lender pursuant to this paragraph to reimburse the Issuing Bank for any LC Disbursement (other than the funding of ABR Loans as contemplated above) shall not
constitute a Loan and 

  
 22 

 
shall not relieve the Borrower of its obligation to reimburse such LC Disbursement. 
 (f) The Borrower’s obligation to reimburse LC Disbursements as provided in paragraph (e) of this Section shall be absolute, unconditional and irrevocable, and shall be performed strictly in
accordance with the terms of this Agreement under any and all circumstances whatsoever and irrespective of (i) any lack of validity or enforceability of any Letter of Credit or this Agreement, or any term or provision therein, (ii) any
draft or other document presented under a Letter of Credit proving to be forged, fraudulent or invalid in any respect or any statement therein being untrue or inaccurate in any respect, (iii) payment by the Issuing Bank under a Letter of Credit
against presentation of a draft or other document that does not comply with the terms of such Letter of Credit, or (iv) any other event or circumstance whatsoever, whether or not similar to any of the foregoing, that might, but for the
provisions of this Section, constitute a legal or equitable discharge of, or provide a right of set-off against, the Borrower’s obligations hereunder. Neither the Administrative Agent, the Lenders nor the Issuing Bank, nor any of their Related
Parties, shall have any liability or responsibility by reason of or in connection with the issuance or transfer of any Letter of Credit or any payment or failure to make any payment thereunder (irrespective of any of the circumstances referred to in
the preceding sentence), or any error, omission, interruption, loss or delay in transmission or delivery of any draft, notice or other communication under or relating to any Letter of Credit (including any document required to make a drawing
thereunder), any error in interpretation of technical terms or any consequence arising from causes beyond the control of the Issuing Bank; provided that the foregoing shall not be construed to excuse the Issuing Bank from liability to the
Borrower to the extent of any direct damages (as opposed to consequential damages, claims in respect of which are hereby waived by the Borrower to the extent permitted by applicable law) suffered by the Borrower that are caused by the Issuing
Bank’s failure to exercise care when determining whether drafts and other documents presented under a Letter of Credit comply with the terms thereof. The parties hereto expressly agree that, in the absence of gross negligence or willful
misconduct on the part of the Issuing Bank (as finally determined by a court of competent jurisdiction), the Issuing Bank shall be deemed to have exercised care in each such determination. In furtherance of the foregoing and without limiting the
generality thereof, the parties agree that, with respect to documents presented which appear on their face to be in substantial compliance with the terms of a Letter of Credit, the Issuing Bank may, in its sole discretion, either accept and make
payment upon such documents without responsibility for further investigation, regardless of any notice or information to the contrary, or refuse to accept and make payment upon such documents if such documents are not in strict compliance with the
terms of such Letter of Credit. 
 (g) The Issuing Bank shall, promptly following its receipt thereof, examine all documents
purporting to represent a demand for payment under a Letter of Credit. The Issuing Bank shall promptly notify the Administrative 

  
 23 

 
Agent and the Borrower by telephone (confirmed by telecopy) of such demand for payment and whether the Issuing Bank has made or will make an LC Disbursement thereunder; provided that any
failure to give or delay in giving such notice shall not relieve the Borrower of its obligation to reimburse the Issuing Bank and the Lenders with respect to any such LC Disbursement. 

(h) If the Issuing Bank shall make any LC Disbursement, then, unless the Borrower shall reimburse such LC Disbursement in full on the
date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that the Borrower reimburses such LC Disbursement, at the rate per
annum then applicable to ABR Loans; provided that, if the Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.11(c) shall apply. Interest accrued pursuant to this
paragraph shall be for the account of the Issuing Bank, except that interest accrued on and after the date of payment by any Lender pursuant to paragraph (e) of this Section to reimburse the Issuing Bank shall be for the account of such Lender
to the extent of such payment. 
 (i) From time to time, the Borrower may with the consent of the Administrative Agent (which
consent shall not be unreasonably withheld or delayed) and by notice to the Lenders designate as additional Issuing Banks one or more Lenders that agree to serve in such capacity as provided below. The acceptance by a Lender of any appointment as an
Issuing Bank hereunder shall be evidenced by an instrument, which shall be in a form reasonably satisfactory to the Borrower, such Lender and the Administrative Agent, shall set forth the LC Commitment of such Lender and shall be executed by such
Lender, the Borrower and the Administrative Agent and, from and after the effective date of such agreement, (i) such Lender shall have all the rights and obligations of an Issuing Bank under this Agreement and (ii) references herein to the
term “Issuing Bank” shall be deemed to include such Lender in its capacity as an Issuing Bank. 
 (j) If any Event of
Default shall occur and be continuing, on the Business Day that the Borrower receives notice from the Administrative Agent or the Required Lenders (or, if the maturity of the Loans has been accelerated, Lenders with LC Exposure representing greater
than 50% of the total LC Exposure) demanding the deposit of cash collateral pursuant to this paragraph, the Borrower shall deposit in an account with the Administrative Agent, in the name of the Administrative Agent and for the benefit of the
Lenders, an amount in cash equal to the LC Exposure as of such date plus any accrued and unpaid interest thereon; provided that the obligation to Cash Collateralize shall become effective immediately, and such deposit shall become immediately
due and payable, without demand or other notice of any kind, upon the occurrence of any Event of Default with respect to the Borrower described in clause (d) of Section 6.01. Such deposit shall be held by the Administrative Agent as
collateral for the payment and performance of the obligations of the Borrower under this Agreement. The Administrative Agent shall have exclusive dominion and 

  
 24 

 
control, including the exclusive right of withdrawal, over such account. Other than any interest earned on the investment of such deposits, which investments shall be made at the option and sole
discretion of the Administrative Agent and at the Borrower’s risk and expense, such deposits shall not bear interest. Interest or profits, if any, on such investments shall accumulate in such account. Moneys in such account shall be applied by
the Administrative Agent to reimburse the Issuing Bank for LC Disbursements for which it has not been reimbursed and, to the extent not so applied, shall be held for the satisfaction of the reimbursement obligations of the Borrower for the LC
Exposure at such time or, if the maturity of the Loans has been accelerated (but subject to the consent of Lenders with LC Exposure representing greater than 50% of the total LC Exposure), be applied to satisfy other obligations of the Borrower
under this Agreement. If the Borrower is required to Cash Collateralize LC Exposure hereunder as a result of the occurrence of an Event of Default, such amount (to the extent not applied as aforesaid) shall be returned to the Borrower within three
Business Days after all Events of Default have been cured or waived. 
 Section 2.05. Funding Borrowings.
(a) Each Lender shall make each Loan to be made by it hereunder on the proposed date thereof by wire transfer of immediately available funds by (x) in the case of a Eurodollar Borrowing, 12:00 noon, New York City time and (y) in
the case of an ABR Borrowing, 3:00 p.m., New York City time, to the account of the Administrative Agent most recently designated by it for such purpose by notice to the Lenders. The Administrative Agent will make such Loans available to the Borrower
by promptly crediting the amounts so received, in like funds, to an account designated by the Borrower in the Borrowing Request; provided that ABR Loans made to finance the reimbursement of an LC Disbursement as provided in
Section 2.04(e) shall be remitted by the Administrative Agent to the Issuing Bank. 
 (b) Unless the Administrative Agent
shall have received notice from a Lender prior to the proposed date of any Borrowing that such Lender will not make available to the Administrative Agent such Lender’s share of such Borrowing, the Administrative Agent may assume that such
Lender has made such share available on such date in accordance with paragraph (a) of this Section and may, in reliance upon such assumption, make available to the Borrower a corresponding amount. In such event, if a Lender has not in fact made
its share of the applicable Borrowing available to the Administrative Agent, then the applicable Lender and the Borrower severally agree to pay to the Administrative Agent forthwith on demand such corresponding amount with interest thereon, for each
day from and including the date such amount is made available to the Borrower to but excluding the date of payment to the Administrative Agent, at (i) in the case of such Lender, the greater of the Federal Funds Effective Rate and a rate
determined by the Administrative Agent in accordance with banking industry rules on interbank compensation or (ii) in the case of the Borrower, the interest rate applicable to ABR Loans. If such Lender pays such amount to the Administrative
Agent, then such amount shall constitute such Lender’s Loan included in such Borrowing. Nothing herein shall be deemed to relieve any 

  
 25 

 
Lender from its obligation to fulfill its Commitment or to prejudice any rights which the Administrative Agent, any Lender or the Borrower may have against any Lender as a result of any default
by such Lender hereunder. 
 Section 2.06. Interest Elections. (a) Each Borrowing initially shall be of the
Type specified in the applicable Borrowing Request and, in the case of a Eurodollar Borrowing, shall have an initial Interest Period as specified in such Borrowing Request. Thereafter, the Borrower may elect to convert such Borrowing to a different
Type or to continue such Borrowing and, in the case of a Eurodollar Borrowing, may elect Interest Periods therefor, all as provided in this Section. The Borrower may elect different options with respect to different portions of the affected
Borrowing, in which case each such portion shall be allocated ratably among the Lenders holding the Loans comprising such Borrowing, and the Loans comprising each such portion shall be considered a separate Borrowing. 

(b) To make an election pursuant to this Section, the Borrower shall notify the Administrative Agent of such election by telephone by the
time that a Borrowing Request would be required under Section 2.03 if the Borrower were requesting a Borrowing of the Type resulting from such election to be made on the effective date of such election. Each such telephonic Interest Election
Request shall be irrevocable and shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written Interest Election Request in the form of Exhibit C hereto and signed by the Borrower. 

(c) Each telephonic and written Interest Election Request shall specify the following information in compliance with Section 2.02:

 (i) the Borrowing to which such Interest Election Request applies and, if different options are being elected
with respect to different portions thereof, the portions thereof to be allocated to each resulting Borrowing (in which case the information to be specified pursuant to clauses (iii) and (iv) below shall be specified for each resulting
Borrowing); 
 (ii) the effective date of the election made pursuant to such Interest Election Request, which
shall be a Business Day; 
 (iii) whether the resulting Borrowing is to be an ABR Borrowing or a Eurodollar
Borrowing; and 
 (iv) if the resulting Borrowing is a Eurodollar Borrowing, the Interest Period to be applicable
thereto after giving effect to such election, which shall be a period contemplated by the definition of the term “Interest Period.” 

  
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 If any such Interest Election Request requests a Eurodollar Borrowing but does not specify
an Interest Period, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. 
 (d)
Promptly following receipt of an Interest Election Request, the Administrative Agent shall advise each Lender of the details thereof and of such Lender’s portion of each resulting Borrowing. 

(e) If the Borrower fails to deliver a timely Interest Election Request with respect to a Eurodollar Borrowing prior to the end of the
Interest Period applicable thereto, then, unless such Borrowing is repaid as provided herein, at the end of such Interest Period such Borrowing shall be converted to an ABR Borrowing. Notwithstanding any contrary provision hereof, if an Event of
Default has occurred and is continuing and the Administrative Agent, at the request of the Required Lenders, so notifies the Borrower, then, so long as an Event of Default is continuing (i) no outstanding Borrowing may be converted to or
continued as a Eurodollar Borrowing without the prior consent of the Required Lenders and (ii) unless repaid, each Eurodollar Borrowing shall be converted to an ABR Borrowing at the end of the Interest Period applicable thereto. 

Section 2.07. Termination and Reduction of Commitments. (a) Unless previously terminated, the Commitments shall
terminate on the Termination Date. 
 (b) The Borrower may at any time terminate, or from time to time reduce, the Commitments;
provided that (i) each reduction of the Commitments shall be in an amount that is an integral multiple of $1,000,000 and not less than $10,000,000 and (ii) the Borrower shall not terminate or reduce the Commitments if, after giving
effect to any concurrent prepayment of the Loans in accordance with Section 2.09 the sum of the Credit Exposures would exceed the total Commitments. Notwithstanding the foregoing but subject to Section 2.07(d), the Borrower, at its sole
discretion, shall have the right, but not the obligation, at any time so long as no Event of Default has occurred and is continuing, to terminate in whole (but not in part), any Affected Lender’s Commitment; provided, however,
that (i) the Borrower shall simultaneously prepay all outstanding Loans from such Affected Lender hereunder, together with accrued interest thereon, accrued fees and all other amounts payable for the account of such Affected Lender hereunder,
and (ii) the termination of such Affected Lender’s Commitment shall not affect such Lender’s rights hereunder as to matters occurring prior to such date. 
 (c) The Borrower shall notify the Administrative Agent of any election to terminate or reduce the Commitments under paragraph (b) of this Section at least three Business Days prior to the effective
date of such termination or reduction, specifying such election and the effective date thereof. Promptly following receipt of any notice, the Administrative Agent shall advise the Lenders of the contents thereof. Each notice delivered by the
Borrower pursuant to this Section shall be irrevocable; provided that a notice of termination of the Commitments delivered by the Borrower may state that such notice is conditioned 

  
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upon the effectiveness of other credit facilities, in which case such notice may be revoked by the Borrower (by notice to the Administrative Agent on or prior to the specified effective date) if
such condition is not satisfied. 
 (d) Simultaneously with the termination of the Commitment of an Affected Lender pursuant to
the last sentence of paragraph (b) of this Section: 
 (i) the LC Exposure of such Affected Lender shall be
automatically reallocated among the other Lenders (other than Defaulting Lenders) in accordance with their respective Applicable Percentages but only to the extent that each such Lender’s Credit Exposure does not exceed such Lender’s
Commitment; and 
 (ii) if the reallocation described in clause (i) cannot be effected, such Commitment
termination shall not be effective unless the Borrower, at its option, shall have Cash Collateralized the amount of the LC Exposure of such Affected Lender that has not been reallocated to the other Lenders pursuant to clause (i). 

Upon (and subject to) such reallocation and Cash Collateralization, the participating interest of the Affected Lender in any outstanding
Letters of Credit shall terminate. 
 (e) Any termination or reduction of the Commitments shall be permanent, except to the
extent such Commitments are subsequently increased pursuant to Section 2.19. Each reduction of the Commitments shall be made ratably among the Lenders in accordance with their respective Commitments, except in the event of an Affected Lender
whose Commitment is terminated pursuant to the last sentence of paragraph (b) of this Section, in which case the Commitment of such Affected Lender may be terminated without reducing the Commitments of the other Lenders. 

Section 2.08. Repayment of Loans; Evidence of Debt. (a) The Borrower hereby unconditionally promises to pay to the
Administrative Agent for the account of each Lender the then unpaid principal amount of each Loan on the Termination Date. 

(b) Each Lender shall maintain in accordance with its usual practice an account or accounts evidencing the indebtedness of the Borrower
to such Lender resulting from each Loan made by such Lender, including the amounts of principal and interest payable and paid to such Lender from time to time hereunder. 
 (c) The Administrative Agent shall maintain accounts in which it shall record (i) the amount of each Loan made hereunder, the Type thereof and the Interest Period applicable thereto, (ii) the
amount of any principal or interest due and payable or to become due and payable from the Borrower to each Lender 

  
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hereunder and (iii) the amount of any sum received by the Administrative Agent hereunder for the account of the Lenders and each Lender’s share thereof. 

(d) The entries made in the accounts maintained pursuant to paragraph (b) or (c) of this Section shall be prima facie
evidence of the existence and amounts of the obligations recorded therein; provided that the failure of any Lender or the Administrative Agent to maintain such accounts or any error therein shall not in any manner affect the obligation of the
Borrower to repay the Loans in accordance with the terms of this Agreement. 
 (e) Any Lender may request, through the
Administrative Agent, that Loans made by it be evidenced by a promissory note. In such event, the Borrower shall prepare, execute and deliver to such Lender through the Administrative Agent a promissory note payable to the order of such Lender (or,
if requested by such Lender, to such Lender and its registered assigns) and in a form approved by the Administrative Agent (each such promissory note, a “Note”). Thereafter, the Loans evidenced by such promissory note and interest
thereon shall at all times (including after assignment pursuant to Section 8.04) be represented by one or more Notes in such form payable to the order of the payee named therein (or, if such Note is a registered note, to such payee and its
registered assigns). 
 Section 2.09. Prepayment of Loans. (a) The Borrower shall have the right at any time
and from time to time to prepay any Borrowing in whole or in part, subject to prior notice in accordance with paragraph (b) of this Section. 
 (b) The Borrower shall notify the Administrative Agent by telephone of any prepayment hereunder (i) in the case of prepayment of a Eurodollar Borrowing, not later than 12:00 noon, New York City
time, two Business Days before the date of prepayment and (ii) in the case of prepayment of an ABR Borrowing, not later than 12:00 noon, New York City time, on the date of prepayment. Each such notice shall be irrevocable and shall specify
the prepayment date and the principal amount of each Borrowing or portion thereof to be prepaid; provided that, if a notice of prepayment is given in connection with a conditional notice of termination of the Commitments as contemplated by
Section 2.07, then such notice of prepayment may be revoked if such notice of termination is revoked in accordance with Section 2.07. Promptly following receipt of any such notice relating to a Borrowing, the Administrative Agent shall
advise the Lenders of the contents thereof. Each partial prepayment of any Borrowing shall be in an amount that would be permitted in the case of an advance of a Borrowing of the same Type as provided in Section 2.02. Each prepayment of a
Borrowing shall be applied ratably to the Loans included in the prepaid Borrowing. Prepayments shall be accompanied by accrued interest to the extent required by Section 2.11. 

Section 2.10. Fees. (a) The Borrower agrees to pay to the Administrative Agent for the account of each Lender (other
than, subject to Section 2.18, a Defaulting Lender) a commitment fee, which shall accrue at the Applicable Rate 

  
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on the daily amount by which the Commitment of such Lender exceeds such Lender’s Credit Exposure during the period from and including the Effective Date to but excluding the Termination
Date. Accrued commitment fees shall be payable in arrears on the last day of March, June, September and December of each year and on the date on which the Commitments terminate, commencing on the first such date to occur after the date hereof. All
commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). 

(b) The Borrower agrees to pay (i) to the Administrative Agent for the account of each Lender a participation fee with respect to
its participations in Letters of Credit, which shall accrue at a per annum rate equal to the Applicable Margin used to determine the interest rate applicable to Eurodollar Loans on the average daily amount of such Lender’s LC Exposure
(excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Effective Date to but excluding the later of the date on which such Lender’s Commitment terminates and the date on which such
Lender ceases to have any LC Exposure, and (ii) to each Issuing Bank a fronting fee, which shall accrue at the rate of *** per annum on the average daily amount of the LC Exposure (excluding any portion thereof attributable to unreimbursed
LC Disbursements) with respect to Letters of Credit issued by such Issuing Bank during the period from and including the Effective Date to but excluding the later of the date of termination of the Commitments and the date on which there ceases to be
any LC Exposure, as well as such Issuing Bank’s standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued through and
including the last day of March, June, September and December of each year shall be payable on such last day, commencing on the first such date to occur after the date hereof; provided that all such fees shall be payable on the date on which
the Commitments terminate and any such fees accruing after the date on which the Commitments terminate shall be payable on demand. Any other fees payable to any Issuing Bank pursuant to this paragraph shall be payable within 10 days after demand.
All participation fees and fronting fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). 

(c) The Borrower agrees to pay to the Persons entitled thereto, fees payable in the amounts and at the times set forth in the Fee Letter.

 (d) All fees payable hereunder shall be paid on the dates due, in immediately available funds, to the Administrative Agent
(or to an Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees, to the Lenders. Fees paid shall not be refundable under any circumstances. 

Section 2.11. Interest. (a) The Loans comprising each ABR Borrowing shall bear interest at the Alternate Base Rate plus
the Applicable Margin. 

  
  

	***	INFORMATION HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS.

 30 

 (b) The Loans comprising each Eurodollar Borrowing shall bear interest at the Adjusted LIBO
Rate for the Interest Period in effect for such Borrowing plus the Applicable Margin. 
 (c) Notwithstanding the foregoing, if
any principal of or interest on any Loan or any fee or other amount payable by the Borrower hereunder is not paid when due, whether at stated maturity, upon acceleration or otherwise, such overdue amount shall bear interest, after as well as before
judgment, at a rate per annum equal to (i) in the case of overdue principal of any Loan, 2% plus the rate otherwise applicable to such Loan as provided in the preceding paragraphs of this Section or (ii) in the case of any other amount, 2%
plus the rate applicable to ABR Loans as provided in paragraph (a) of this Section. 
 (d) Accrued interest on each Loan
shall be payable in arrears on each Interest Payment Date for such Loan and upon termination of the Commitments; provided that (i) interest accrued pursuant to paragraph (c) of this Section shall be payable on demand, (ii) in
the event of any repayment or prepayment of any Loan (other than a prepayment of an ABR Loan prior to the end of the Availability Period), accrued interest on the principal amount repaid or prepaid shall be payable on the date of such repayment or
prepayment and (iii) in the event of any conversion of any Eurodollar Loan prior to the end of the current Interest Period therefor, accrued interest on such Loan shall be payable on the effective date of such conversion. 

(e) All interest hereunder shall be computed on the basis of a year of 360 days, except that interest computed by reference to
the Alternate Base Rate at times when the Alternate Base Rate is based on the Prime Rate shall be computed on the basis of a year of 365 days (or 366 days in a leap year), and in each case shall be payable for the actual number
of days elapsed (including the first day but excluding the last day). The applicable Alternate Base Rate, Adjusted LIBO Rate or LIBO Rate shall be determined by the Administrative Agent, and such determination shall be conclusive absent manifest
error. 
 Section 2.12. Alternate Rate of Interest. If prior to the commencement of any Interest Period for a
Eurodollar Borrowing: 
 (a) the Administrative Agent determines (which determination shall be conclusive absent manifest error)
that adequate and reasonable means do not exist for ascertaining the Adjusted LIBO Rate for such Interest Period; or 
 (b) the
Administrative Agent is advised by the Required Lenders that the Adjusted LIBO Rate for such Interest Period will not adequately and fairly reflect the cost to such Lenders of making or maintaining their Loans included in such Borrowing for such
Interest Period; 
 then the Administrative Agent shall give notice thereof to the Borrower and the Lenders by telephone or telecopy as promptly
as practicable thereafter and, until 

  
 31 

 
the Administrative Agent notifies the Borrower and the Lenders that the circumstances giving rise to such notice no longer exist, (i) any Interest Election Request that requests the
conversion of any Borrowing to, or continuation of any Borrowing as, a Eurodollar Borrowing shall be ineffective and (ii) if any Borrowing Request requests a Eurodollar Borrowing, such Borrowing shall be made as an ABR Borrowing. 

Section 2.13. Increased Costs; Illegality. (a) If any Change in Law shall: 

(i) impose, modify or deem applicable any reserve, special deposit or similar requirement against assets of, deposits with
or for the account of, or credit extended by, any Lender (except any such reserve requirement reflected in the Adjusted LIBO Rate) or any Issuing Bank; or 
 (ii) impose on any Lender or any Issuing Bank or the London interbank market any other condition affecting this Agreement or Eurodollar Loans made by such Lender or any Letter of Credit or participation
therein; 
 and the result of any of the foregoing shall be to increase the cost to such Lender of making or maintaining any Eurodollar Loan (or
of maintaining its obligation to make any such Loan) or to increase the cost to such Lender or Issuing Bank of participating in, issuing or maintaining any Letter of Credit or to reduce the amount of any sum received or receivable by such Lender or
Issuing Bank hereunder (whether of principal, interest or otherwise), then the Borrower will pay to such Lender or Issuing Bank, as the case may be, such additional amount or amounts as will compensate such Lender or Issuing Bank, as the case may
be, for such additional costs incurred or reduction suffered. 
 (b) If any Lender or Issuing Bank determines that any Change in
Law regarding capital requirements has or would have the effect of reducing the rate of return on such Lender’s or Issuing Bank’s capital or on the capital of such Lender’s or Issuing Bank’s holding company, if any, as a
consequence of this Agreement or the Loans made by, or participations in Letters of Credit held by, such Lender, or the Letters of Credit issued by such Issuing Bank, to a level below that which such Lender or Issuing Bank or such Lender’s or
Issuing Bank’s holding company could have achieved but for such Change in Law (taking into consideration such Lender’s or Issuing Bank’s policies and the policies of such Lender’s or Issuing Bank’s holding company with
respect to capital adequacy), then from time to time the Borrower will pay to such Lender or Issuing Bank, as the case may be, such additional amount or amounts as will compensate such Lender or Issuing Bank or such Lender’s or Issuing
Bank’s holding company for any such reduction suffered. 
 (c) If after the date of this Agreement, a Change in Law shall
subject any Lender or Issuing Bank to any Taxes as a result of a change in the basis of 

  
 32 

 
taxation by the United States or by the foreign jurisdiction under the laws of which such Lender or Issuing Bank is organized or has its Applicable Lending Office or any political subdivision
thereof (other than (i) Taxes due to a change in the rate of taxation or (ii) Taxes imposed on or with respect to any payment made by any Borrower hereunder and Excluded Taxes) on its loans, loan principal, letters of credit, commitments,
or other obligations, or its deposits, reserves, other liabilities or capital attributable thereto, and the result shall be to increase the cost to such Lender of making or maintaining any Loan (or of maintaining its obligation to make any such
Loan) or to increase the cost to such Lender or Issuing Bank of participating in, issuing or maintaining any Letter of Credit or to reduce the amount of any sum received or receivable by such Lender or Issuing Bank hereunder (whether of principal,
interest or otherwise), then such Borrower will pay to such Lender or Issuing Bank such additional amount or amounts as will compensate such Lender or Issuing Bank for such additional costs incurred or reduction suffered. 

(d) A certificate of a Lender or an Issuing Bank setting forth in reasonable detail the basis for such claim and the amount or amounts
necessary to compensate such Lender or Issuing Bank or its holding company, as the case may be, as specified in paragraph (a) or (b) of this Section shall be delivered to the Borrower and shall be conclusive absent manifest error. The
Borrower shall pay such Lender or Issuing Bank, as the case may be, the amount shown as due on any such certificate within 10 days after receipt thereof. 
 (e) Failure or delay on the part of any Lender or Issuing Bank to demand compensation pursuant to this Section shall not constitute a waiver of such Lender’s or Issuing Bank’s right to demand
such compensation; provided that the Borrower shall not be required to compensate a Lender or an Issuing Bank pursuant to this Section for any increased costs or reductions incurred more than 180 days prior to the date that such
Lender or Issuing Bank notifies the Borrower of the Change in Law giving rise to such increased costs or reductions and of such Lender’s or Issuing Bank’s intention to claim compensation therefor; provided further that, if the
Change in Law giving rise to such increased costs or reductions is retroactive, then the 180-day period referred to above shall be extended to include the period of retroactive effect thereof. 

(f) Anything in this Agreement to the contrary notwithstanding, if any Change in Law shall make it unlawful for any Lender to make or
maintain Eurodollar Loans as contemplated by this Agreement or to obtain in the London interbank market the funding for Eurodollar Loans, then (i) such Lender shall promptly notify the Administrative Agent and the Borrower thereof,
(ii) the obligation of such Lender hereunder to make Eurodollar Loans and to continue Eurodollar Loans shall forthwith terminate, and (iii) such Lender’s Eurodollar Loans then outstanding shall be converted on the last day of the then
current Interest Period for such Eurodollar Loans (or on such earlier date as may be required by law) to ABR Loans. 

  
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 Section 2.14. Break Funding Payments. In the event of (a) the payment of
any principal of any Eurodollar Loan other than on the last day of an Interest Period applicable thereto (including as a result of an Event of Default), (b) the conversion of any Eurodollar Loan other than on the last day of the Interest Period
applicable thereto, (c) the failure to borrow, convert, continue or prepay any Eurodollar Loan on the date specified in any notice delivered pursuant hereto (regardless of whether such notice may be revoked under Section 2.09(b) and is
revoked in accordance therewith), or (d) the assignment of any Eurodollar Loan other than on the last day of the Interest Period applicable thereto as a result of a request by the Borrower pursuant to Section 2.17, then, in any such event,
the Borrower shall compensate each Lender for the loss (other than loss of applicable margin), cost and expense attributable to such event. In the case of a Eurodollar Loan, such loss, cost or expense to any Lender shall be deemed to include an
amount determined by such Lender to be the excess, if any, of (i) the amount of interest which would have accrued on the principal amount of such Loan had such event not occurred, at the Adjusted LIBO Rate that would have been applicable to
such Loan, for the period from the date of such event to the last day of the then current Interest Period therefor (or, in the case of a failure to borrow, convert or continue, for the period that would have been the Interest Period for such Loan),
over (ii) the amount of interest which would accrue on such principal amount for such period at the interest rate which such Lender would bid were it to bid, at the commencement of such period, for dollar deposits of a comparable amount and
period from other banks in the eurodollar market. A certificate of any Lender setting forth any amount or amounts that such Lender is entitled to receive pursuant to this Section 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 days after receipt thereof. 
 Section 2.15. Taxes. (a) Any and all payments by or on account of any obligation of the Borrower hereunder or under any other Loan Document shall be made free and clear of and without
deduction for any Taxes unless deduction of such Taxes is required by law (or by the interpretation or administration thereof); provided that if the Borrower shall be required by law (or by the interpretation or administration thereof) to
deduct any Indemnified Taxes or Other Taxes from such payments, then (i) the sum payable shall be increased as necessary so that after making all required deductions of such Indemnified Taxes or Other Taxes (including deductions of such
Indemnified Taxes or Other Taxes applicable to additional sums payable under this Section 2.15(a)) the Administrative Agent, any Issuing Bank or any Lender (as the case may be) receives an amount equal to the sum it would have received had no
such deductions of such Indemnified Taxes or Other Taxes been made, (ii) the Borrower shall make such deductions of such Indemnified Taxes or Other Taxes, and (iii) the Borrower shall pay the full amount deducted to the relevant
Governmental Authority in accordance with applicable law. 
 (b) In addition, the Borrower shall pay any Other Taxes to the
relevant Governmental Authority in accordance with applicable law. 

  
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 (c) The Borrower shall indemnify the Administrative Agent, each Issuing Bank and each
Lender, within 30 days after written demand therefor, which written demand shall be made within 60 days of the date the Administrative Agent, such Issuing Bank or such Lender received written demand for payment of any Indemnified
Taxes or Other Taxes from the relevant Governmental Authority, for the full amount of such Indemnified Taxes or Other Taxes (including Indemnified Taxes or Other Taxes properly imposed or asserted on or attributable to amounts payable under this
Section 2.15(c)) paid by the Administrative Agent or such Lender, as the case may be, and any penalties, interest and reasonable out-of-pocket expenses arising therefrom or with respect thereto. A certificate setting forth the amount of such
payment or liability and, in reasonable detail, the manner in which such amount shall have been determined, delivered to the Borrower by a Lender or an Issuing Bank, or by the Administrative Agent on its own behalf or on behalf of a Lender, shall be
presumptive evidence of such payment or liability absent manifest error. 
 (d) As soon as practicable after any payment of
Indemnified Taxes or Other Taxes by the Borrower to any Governmental Authority, the Borrower shall deliver to the Administrative Agent the original or a certified copy of a receipt issued by such Governmental Authority evidencing such payment, a
copy of the return reporting such payment or other evidence of such payment reasonably satisfactory to the Administrative Agent. 
 (e) Each Foreign Lender shall deliver to the Borrower and the Administrative Agent on or before the date such Foreign Lender becomes a party to this Agreement and on or before the date, if any, such
Foreign Lender changes its Applicable Lending Office (i) two duly executed and properly completed Internal Revenue Service Forms W-8ECI or W-8BEN (with respect to the benefit of an income tax treaty), or successor forms, certifying to such
Foreign Lender’s entitlement to a complete exemption from United States withholding tax with respect to all payments to be made to it under the Loan Documents, or (ii) if such Foreign Lender is not a “bank” within the meaning of
Section 881(c)(3)(A) of the Code, either (x) the forms referred to in clause (i) above certifying to such Foreign Lender’s entitlement to a complete exemption from United States withholding tax with respect to all payments to be
made to it under the Loan Documents, or (y) two duly executed and properly completed Internal Revenue Service Forms W-8BEN (or successor forms) and a duly executed certificate substantially in the form of Exhibit D (any such
certificate, a “Section 2.15(e) Certificate”); provided that in the event that a Foreign Lender is not classified as a corporation for United States federal income tax purposes, such Foreign Lender shall take any actions
necessary and shall deliver to the Borrower and the Administrative Agent all additional (or alternative) Internal Revenue Service forms and Section 2.15(e) Certificates necessary to fully establish such Foreign Lender’s entitlement to a
complete exemption from United States withholding tax on all payments to be made to it under the Loan Documents (including causing its partners, members, beneficiaries or owners, or their beneficial owners, to take any actions and deliver any
Internal Revenue Service forms and Section 2.15(e) 

  
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Certificates necessary to establish such exemption). In addition, each Foreign Lender shall deliver such Internal Revenue Service forms and the Section 2.15 (e) Certificate (as
applicable) to the Borrower and the Administrative Agent promptly upon the obsolescence, inaccuracy or invalidity of any such Internal Revenue Service forms or Section 2.15 (e) Certificate previously delivered by such Foreign Lender
pursuant to this Section 2.15(e) unless such Foreign Lender is not legally able to deliver such Internal Revenue Service forms or Section 2.15 (e) Certificate. 
 (f) If a payment made to a Lender under this Agreement or any Assignment and Assumption would be subject to U.S. federal withholding Tax imposed by FATCA if such Lender were to fail to comply with the
applicable 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 Section 2.15(f), “FATCA” shall include any amendments made to FATCA after the date of this Agreement. 

(g) Each Lender agrees that, before making a demand under this Section 2.15, it shall use reasonable efforts (consistent with its
legal and regulatory restrictions) to designate a different Applicable Lending Office or assign its rights and obligations hereunder to another of its offices, branches or affiliates if the making of such a designation or assignment will avoid the
need for, or reduce the amount of, any additional amounts that would otherwise thereafter accrue and will not, in the reasonable judgment of such Lender, require such Lender to incur a cost or expense, or legal or regulatory disadvantage, determined
by such Lender to be material. Upon any such change in any Applicable Lending Office or assignment, such Lender shall provide or cause to be provided to the Administrative Agent and the Borrower the appropriate form specified in
Section 2.15(e). 
 (h) If the Borrower pays any additional amount or indemnity payment pursuant to this Section 2.15
with respect to the Administrative Agent, any Lender, any Issuing Bank or any other recipient, the Administrative Agent or such Lender, Issuing Bank or other recipient, as the case may be, shall use reasonable efforts to obtain a refund of tax or
credit against its tax liabilities on account of such payment; provided that the Administrative Agent or such Lender, Issuing Bank or other recipient, as the case may be, shall have no obligation to use such reasonable efforts if either
(i) it is in an excess foreign tax credit position, (ii) it 

  
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believes in good faith, in its sole discretion, that claiming a refund or credit would cause adverse tax consequences to it or (iii) no such refund or credit is available under applicable
laws. In the event that the Administrative Agent or such Lender, Issuing Bank or other recipient, as the case may be, receives such a refund or credit, the Administrative Agent or such Lender, Issuing Bank or other recipient, as the case may be,
shall promptly pay to the Borrower an amount that the Administrative Agent or such Lender, Issuing Bank or other recipient, as the case may be, reasonably determines is equal to the net tax benefit obtained by the Administrative Agent or such
Lender, Issuing Bank or other recipient, as the case may be, as a result of such payment by the Borrower. Nothing contained in this Section 2.15(h) shall require the Administrative Agent or such Lender, Issuing Bank or other recipient, as the
case may be, to disclose or detail the basis of its calculation of the amount of any net tax benefit or its determination referred to in the proviso to the first sentence of this Section 2.15(h) to the Borrower or any other party. 

(i) Should a Lender become subject to Taxes because of its failure to deliver a form required hereunder, the Borrower shall take such
steps as the Lender shall reasonably request to assist the Lender to recover such Taxes; provided that, in the judgment of the Borrower, such steps shall not subject the Borrower to any unreimbursed cost or expense and would not otherwise be
disadvantageous to the Borrower. 
 Section 2.16. Payment Generally; Pro Rata Treatment; Sharing of Set-offs.
(a) The Borrower shall make each payment required to be made by it hereunder (whether of principal, interest or fees, or of amounts payable under Section 2.13, 2.14 and 2.15 or otherwise) prior to 12:00 noon, New York City time,
on the date when due, in immediately available funds, without set-off or counterclaim. Any amounts received after such time on any date may, in the discretion of the Administrative Agent, be deemed to have been received on the next succeeding
Business Day for purposes of calculating interest thereon. All such payments shall be made to the Administrative Agent, except payments to be made directly to the Issuing Bank as expressly provided herein and except that payments pursuant to
Section 2.13, 2.14, 2.15 or 8.03 shall be made directly to the Persons entitled thereto. The Administrative Agent shall distribute any such payments received by it for the account of any other Person to the appropriate recipient promptly
following receipt thereof. If any payment hereunder shall be due on a day that is not a Business Day, the date for payment shall be extended to the next succeeding Business Day, and, in the case of any payment accruing interest, interest thereon
shall be payable for the period of such extension. All payments hereunder shall be made in dollars. 
 (b) If at any time
insufficient funds are received by and available to the Administrative Agent to pay fully all amounts of principal, interest and fees then due hereunder, such funds shall be applied (i) first, towards payment of interest and fees then due
hereunder, ratably among the parties entitled thereto in accordance with the amounts of interest and fees then due to such parties and 

  
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(ii) second, towards payment of principal then due hereunder, ratably (except as otherwise provided in Section 2.18(e)) among the parties entitled thereto in accordance with the amounts
of principal then due to such parties. 
 (c) If any Lender shall, by exercising any right of set off or counterclaim or
otherwise, obtain payment in respect of any principal of or interest on any of its Loans or funded participations in LC Disbursements resulting in such Lender receiving payment of a greater proportion of the aggregate amount of its Loans or funded
participations in LC Disbursements and accrued interest thereon than the proportion received by any other Lender (other than in connection with the payment of Loans or LC Disbursements of an Affected Lender in connection with the termination of the
Commitment of such Lender hereunder), then the Lender receiving such greater proportion shall purchase (for cash at face value) participations in the Loans or LC Disbursements of other Lenders to the extent necessary 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 funded participations in LC Disbursements; provided that (i) if any such
participations are purchased and all or any portion of the payment giving rise thereto is recovered, such participations shall be rescinded and the purchase price restored to the extent of such recovery, without interest, and (ii) the
provisions of this paragraph shall not be construed to apply to any payment made by the Borrower pursuant to and in accordance with the express terms of this Agreement or any payment obtained by a Lender as consideration for the assignment of or
sale of a participation in any of its Loans to any assignee or participant, other than to the Borrower or any Subsidiary or Affiliate thereof (as to which the provisions of this paragraph shall apply). 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 set-off 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. 
 (d)
Unless the Administrative Agent shall have received notice from the Borrower prior to the date on which any payment is due to the Administrative Agent for the account of the Lenders or any Issuing Bank hereunder that the Borrower will not make such
payment, the Administrative Agent may assume that the Borrower has made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Lenders or such Issuing Bank, as the case may be, the amount due.
In such event, if the Borrower has not in fact made such payment, then each of the Lenders or such Issuing Bank, as the case may be, severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such Lender
or Issuing Bank with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the greater of the Federal Funds Effective Rate and a rate
determined by the Administrative Agent in accordance with banking industry rules on interbank compensation. 

  
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 (e) Subject to Section 2.18(e), if any Lender shall fail to make any payment required
to be made by it pursuant to Section 2.04(c), 2.05(b), 2.16(d) or 8.03(c), then the Administrative Agent may, in its discretion (notwithstanding any contrary provision hereof), apply any amounts thereafter received by the Administrative Agent
for the account of such Lender to satisfy such Lender’s obligations under such Sections until all such unsatisfied obligations are fully paid. 
 Section 2.17. Mitigation Obligations; Replacement of Lenders. (a) If any Lender becomes aware of the occurrence of an event or the existence of a condition that would entitle such Lender
to receive any compensation from the Borrower pursuant to Section 2.13 or that would require the Borrower to make a payment to such Lender or any Governmental Authority for the account of such Lender pursuant to Section 2.15, then (unless
in the case of Section 2.13 such Lender determines in its discretion not to request compensation therefor) such Lender shall use reasonable efforts to designate a different lending office for funding or booking its Loans hereunder or to assign
its rights and obligations hereunder to another of its offices, branches or affiliates, if, in the judgment of such Lender, such designation or assignment (i) would eliminate or reduce amounts payable by the Borrower pursuant to
Section 2.13 or Section 2.15 in the future and (ii) would not subject such Lender to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender. The Borrower hereby agrees to pay all reasonable costs
and expenses incurred by any Lender in connection with any such designation or assignment. 
 (b) If any Lender
(i) requests compensation under Section 2.13, (ii) requests that the Borrower make a payment to such Lender or any Governmental Authority for the account of such Lender pursuant to Section 2.15, (iii) becomes a Defaulting
Lender, (iv) becomes an Affected Lender, or (v) refuses to consent to any amendment, waiver or other modification of any Loan Document requested by the Borrower that requires the consent of a greater percentage of the Lenders than the
Required Lenders and such amendment, waiver or other modification is consented to by the Required Lenders; 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 Section 8.04, with the Borrower or the replacement Lender paying the processing and recording fee), all of its interests, rights and obligations
under this Agreement to an assignee that shall assume such obligations (which assignee may be another Lender, if a Lender accepts such assignment); provided that (w) the Borrower shall have received the prior written consent of the
Administrative Agent and each Issuing Bank to such assignment, which consent shall not unreasonably be withheld, (x) such Lender shall have received payment of an amount equal to the outstanding principal of its Loans and funded participations
in LC Disbursements, accrued interest thereon, accrued fees and all other amounts payable to it hereunder, from the assignee (to the extent of such outstanding principal and accrued interest and fees) or the Borrower (in the case of all other
amounts) (in the case of a Defaulting Lender, excluding, for the 

  
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avoidance of doubt, any amount to which such Defaulting Lender is not entitled in accordance with Section 2.18), (y) in the case of any such assignment resulting from a claim for
compensation under Section 2.13 or payments required to be made pursuant to Section 2.15 such assignment will result in a reduction in or elimination of such compensation or payments in the future and (z) in the case of
clause (v) above, such assignee consents to such amendment, waiver or other modification. A Lender shall not be required to make any such assignment and delegation if, prior thereto, as a result of a waiver by such Lender or otherwise, the
circumstances entitling the Borrower to require such assignment and delegation cease to apply. Each Lender agrees that an assignment required to be made by it pursuant to this paragraph may be effected pursuant to an Assignment and Assumption
executed by the Borrower, the Administrative Agent and the assignee and that the Lender required to make such assignment need not be a party thereto. 
 Section 2.18. Defaulting Lenders. If any Lender becomes a Defaulting Lender, then the following provisions shall apply for so long as such Lender is a Defaulting Lender, to the extent
permitted by applicable law: 
 (a) fees shall cease to accrue on the unused portion of the Commitment of such Defaulting Lender
pursuant to Section 2.10(a); 
 (b) the Commitment and Credit Exposure of such Defaulting Lender shall not be included in
determining whether the Required Lenders have taken or may take any action hereunder (including any consent to any amendment, waiver or other modification permitted to be effected by the Required Lenders pursuant to Section 8.02), and,
notwithstanding Section 8.02, any such Defaulting Lender shall not have the right to vote on or consent to any amendment or waiver under this Agreement if such amendment or waiver does not disproportionately in an adverse manner affect the
rights of such Defaulting Lender or increase or extend such Defaulting Lender’s Commitment hereunder; 
 (c) if any LC
Exposure exist at the time such Lender becomes a Defaulting Lender then: 
 (i) the LC Exposure of such
Defaulting Lender shall be automatically reallocated among the non-Defaulting Lenders in accordance with their respective Applicable Percentages but only to the extent the total of all non-Defaulting Lenders’ Credit Exposures does not exceed
the total of all non-Defaulting Lenders’ Commitments; 
 (ii) if the reallocation described in clause
(i) above cannot, or can only partially, be effected, the Borrower shall within ten Business Days following notice by the Administrative Agent (x) procure the reduction or termination of the Defaulting Lender’s LC Exposure (after
giving effect to any partial reallocation pursuant to clause (i) above) and/or (y) Cash Collateralize for the benefit of the Issuing Banks only the 

  
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Borrower’s obligations corresponding to such Defaulting Lender’s LC Exposure (after giving effect to any partial reallocation pursuant to clause (i) above and any reduction of the
Defaulting Lender’s LC Exposure pursuant to subclause (x) above) in accordance with the procedures set forth in Section 2.04(j) for so long as such LC Exposure is outstanding; 

(iii) if the Borrower Cash Collateralizes any portion of such Defaulting Lender’s LC Exposure pursuant to clause
(ii) above, the Borrower shall not be required to pay any fees to such Defaulting Lender pursuant to Section 2.10(b) with respect to such Defaulting Lender’s LC Exposure during the period such Defaulting Lender’s LC Exposure are
Cash Collateralized; 
 (iv) to the extent that the LC Exposure of the non-Defaulting Lenders are reallocated
pursuant to clause (i) above, then the letter of credit fees payable to the Lenders pursuant to Section 2.10(b) shall to the same extent be adjusted in accordance with such non-Defaulting Lenders’ Applicable Percentages; 

(v) if all or any portion of such Defaulting Lender’s LC Exposure is not reallocated, reduced, terminated nor Cash
Collateralized pursuant to clause (i) or (ii) above, then, without prejudice to any rights or remedies of the Issuing Banks or any other Lender hereunder, all letter of credit fees payable under Section 2.10(b) with respect to such
Defaulting Lender’s LC Exposure shall be payable to the Issuing Banks until and to the extent that such LC Exposure is reallocated, reduced, terminated and/or Cash Collateralized; and 

(vi) Cash Collateral (or the appropriate portion thereof) provided with respect to any Defaulting Lender’s LC
Exposure shall no longer be required to be held as Cash Collateral pursuant to this Section 2.18 and shall be released to the Person providing such Cash Collateral following (A) the elimination of the applicable LC Exposure of such
Defaulting Lender, (B) the termination of the Defaulting Lender status of the applicable Lender, or (C) the determination by the Administrative Agent and each Issuing Bank that there exists excess Cash Collateral; provided that the Person
providing Cash Collateral and each Issuing Bank may agree that Cash Collateral shall be held to support future anticipated LC Exposure or other obligations of a Defaulting Lender. 

(d) so long as such Lender is a Defaulting Lender, no Issuing Bank shall be required to issue, extend, renew or increase any Letter of
Credit, unless the related exposure and the Defaulting Lender’s then outstanding LC Exposure after giving effect thereto will be 100% covered by the Commitments of the non-Defaulting Lenders and/or reduced, terminated and/or Cash Collateralized
in accordance with Section 2.19(c), and participating interests in any newly issued or increased Letter of Credit shall be allocated among non-Defaulting Lenders in a 

  
 41 

 
manner consistent with Section 2.18(c)(i) (and such Defaulting Lender shall not participate therein). 
 If any Issuing Bank has a good faith belief that any Lender has defaulted in fulfilling its funding obligations under one or more other agreements in which such Lender commits to extend credit, such
Issuing Bank shall not be required to issue, extend, renew or increase any Letter of Credit, unless such Issuing Bank shall have entered into arrangements with the Borrower or such Lender, reasonably satisfactory to such Issuing Bank to defease any
risk to such Issuing Bank in respect of such Lender hereunder relating to LC Exposure. 
 In the event that the Administrative
Agent, the Borrower and each Issuing Bank agree that a Defaulting Lender has adequately remedied all matters that caused such Lender to be a Defaulting Lender, then the LC Exposure of the Lenders shall be readjusted to reflect the inclusion of such
Lender’s Commitment and on such date such Lender shall purchase at par such of the Loans of the other Lenders as the Administrative Agent shall determine is necessary in order for such Lender to hold such Loans in accordance with its Applicable
Percentage; provided that there shall be no retroactive effect on fees reallocated pursuant to Section 2.18(c)(iv) and (v). 
 (e) Any payment of principal, interest, fees or other amounts received by the Administrative Agent for the account of a Defaulting Lender (whether voluntary or mandatory, at maturity, pursuant to Article
6 or otherwise) or received by the Administrative Agent from a Defaulting Lender pursuant to Section 8.08 shall, unless the Administrative Agent determines that such application entails a material risk of violation of applicable law or order,
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 such Defaulting Lender to the Administrative Agent hereunder; second, to the payment on a pro
rata basis of any amounts owing by such Defaulting Lender to any Issuing Bank hereunder; third, to Cash Collateralize for the benefit of the Issuing Banks such Defaulting Lender’s LC Exposure (on a pro rata basis to all then outstanding
Letters of Credit issued by all Issuing Banks); fourth, as the Borrower may request (so long as no Default or Event of Default exists), to the funding of any Loan in respect of which such Defaulting Lender has failed to fund its portion
thereof as required by this Agreement, as determined by the Administrative Agent; fifth, if so determined by the Administrative Agent and the Borrower, to be held in a deposit account and released pro rata in order to (x) satisfy such
Defaulting Lender’s potential future funding obligations with respect to Loans under this Agreement and (y) Cash Collateralize such Defaulting Lender’s LC Exposure with respect to future Letters of Credit issued under this Agreement;
sixth, to the payment of any amounts owing to the Lenders or the Issuing Banks as a result of any judgment of a court of competent jurisdiction obtained by any Lender or Issuing Bank against such Defaulting Lender as a result of such
Defaulting Lender’s breach of its obligations under this Agreement; seventh, so long as no Default or Event of Default exists, to the payment of any amounts owing to the Borrower as a result of any judgment

  
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of a court of competent jurisdiction obtained by the Borrower against such Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations under this Agreement; and
eighth, to such Defaulting Lender or as otherwise directed by a court of competent jurisdiction; provided that if (x) such payment is a payment of the principal amount of any Loans or LC Disbursements in respect of which such Defaulting
Lender has not fully funded its appropriate share, and (y) such Loans were made or the related Letters of Credit were issued at a time when the conditions set forth in Section 3.02 were satisfied or waived, such payment shall be applied
solely to pay the Loans of, and LC Disbursements owed to, all non-Defaulting Lenders on a pro rata basis prior to being applied to the payment of any Loans of, or LC Disbursements owed to, such Defaulting Lender until such time as all Credit
Exposure of each Lender is held in accordance with such Lender’s Commitment without giving effect to Section 2.18(c)(i). Any payments, prepayments or other amounts paid or payable to a Defaulting Lender that are applied (or held) to pay
amounts owed by a Defaulting Lender or to post Cash Collateral pursuant to this Section 2.18(e) shall be deemed paid to and redirected by such Defaulting Lender, and each Lender irrevocably consents hereto. 

Section 2.19. Increase in the Aggregate Commitments. (a) The Borrower may, at any time but in any event not more than
once in any calendar year prior to the Termination Date, by notice to the Administrative Agent, request that the aggregate amount of the Commitments be increased by an amount of $10,000,000 or an integral multiple thereof (each a “Commitment
Increase”) to be effective as of a date that is not later than 90 days prior to the scheduled Termination Date then in effect (the “Increase Date”) as specified in the related notice to the Administrative Agent;
provided, however that (i) in no event shall the aggregate amount of the Commitments at any time exceed $2,000,000,000 and (ii) on the date of any request by the Borrower for a Commitment Increase and on the related Increase Date,
the applicable conditions set forth in Section 3.03 shall be satisfied. 
 (b) The Administrative Agent shall promptly
notify the Lenders of a request by the Borrower for a Commitment Increase, which notice shall include (i) the proposed amount of such requested Commitment Increase, (ii) the proposed Increase Date and (iii) the date by which Lenders
wishing to participate in the Commitment Increase must commit to an increase in the amount of their respective Commitments (the “Commitment Date”). Each Lender that is willing to participate in such requested Commitment Increase
(each an “Increasing Lender”) shall, in its sole discretion, give written notice to the Administrative Agent on or prior to the Commitment Date of the amount by which it is willing to increase its Commitment. If the Lenders notify
the Administrative Agent that they are willing to increase the amount of their respective Commitments by an aggregate amount that exceeds the amount of the requested Commitment Increase, the requested Commitment Increase shall be allocated among the
Lenders willing to participate therein in such amounts as are agreed between the Borrower and the Administrative Agent, provided that no Lender shall be subject to a Commitment Increase in excess of the amount by which it is willing to

  
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increase its Commitment as indicated in its notice to the Administrative Agent. It is understood and agreed that no Lender shall have any obligation whatsoever to agree to any increase in its
Commitment. 
 (c) Promptly following each Commitment Date, the Administrative Agent shall notify the Borrower as to the amount,
if any, by which the Lenders are willing to participate in the requested Commitment Increase. If the aggregate amount by which the Lenders are willing to participate in any requested Commitment Increase on any such Commitment Date is less than the
requested Commitment Increase, then the Borrower may extend offers to one or more Eligible Assignees to participate in any portion of the requested Commitment Increase that has not been committed to by the Lenders as of the applicable Commitment
Date; provided, however, that the Commitment of each such Eligible Assignee shall be in an amount of $15,000,000 or more. 
 (d) On each Increase Date, each Eligible Assignee that accepts an offer to participate in a requested Commitment Increase in accordance with Section 2.19(b) (each such Eligible Assignee and each
Eligible Assignee that agrees to an extension of the Termination Date in accordance with Section 2.20(c), an “Assuming Lender”) shall become a Lender party to this Agreement as of such Increase Date and the Commitment of each
Increasing Lender for such requested Commitment Increase shall be so increased by such amount (or by the amount allocated to such Lender pursuant to the last sentence of Section 2.19(b)) as of such Increase Date; provided, however, that
the Administrative Agent shall have received on or before such Increase Date the following, each dated such date: 
 (i) (A) certified copies of resolutions of the Board of Directors of the Borrower or the Executive Committee of such Board approving the Commitment Increase and the corresponding modifications to this
Agreement and (B) an opinion of counsel for the Borrower (which may be in-house counsel), in substantially the form of Exhibit G hereto; 
 (ii) an assumption agreement from each Assuming Lender, if any, in form and substance satisfactory to the Borrower and the Agent (each an “Assumption Agreement”), duly executed by such
Eligible Assignee, the Administrative Agent and the Borrower; and 
 (iii) confirmation from each Increasing
Lender of the increase in the amount of its Commitment in a writing satisfactory to the Borrower and the Administrative Agent. 
 On each
Increase Date, upon fulfillment of the conditions set forth in the immediately preceding sentence of this Section 2.19(d), the Administrative Agent shall notify the Lenders (including, without limitation, each Assuming Lender) and the Borrower,
on or before 1:00 p.m. (New York City time), by telecopier, of the occurrence of the Commitment Increase to be effected on such Increase Date and shall record in the Register the relevant information with respect to each

  
 44 

 
Increasing Lender and each Assuming Lender on such date. Each Increasing Lender and each Assuming Lender shall, before 2:00 p.m. (New York City time) on the Increase Date, make available for the
account of its Applicable Lending Office to the Administrative Agent, in same day funds, in the case of such Assuming Lender, an amount equal to such Assuming Lender’s ratable portion of the Borrowings then outstanding (calculated based on its
Commitment as a percentage of the aggregate Commitments outstanding after giving effect to the relevant Commitment Increase) and, in the case of such Increasing Lender, an amount equal to the excess of (i) such Increasing Lender’s ratable
portion of the Borrowings then outstanding (calculated based on its Commitment as a percentage of the aggregate Commitments outstanding after giving effect to the relevant Commitment Increase) over (ii) such Increasing Lender’s ratable
portion of the Borrowings then outstanding (calculated based on its Commitment (without giving effect to the relevant Commitment Increase) as a percentage of the aggregate Commitments (without giving effect to the relevant Commitment Increase).
After the Administrative Agent’s receipt of such funds from each such Increasing Lender and each such Assuming Lender, the Administrative Agent will promptly thereafter cause to be distributed like funds to the other Lenders for the account of
their respective Applicable Lending Offices in an amount to each other Lender such that the aggregate amount of the outstanding Loans owing to each Lender after giving effect to such distribution equals such Lender’s ratable portion of the
Borrowings then outstanding (calculated based on its Applicable Percentage after giving effect to the relevant Commitment Increase). The respective LC Exposures of the Lenders shall be redetermined as of the effective date of such increase in
proportion to their respective Commitments after giving effect to such increase. 
 Section 2.20. Extension of
Termination Date. (a) At least 30 days but not more than 45 days prior to any anniversary of the Effective Date, the Borrower, by written notice to the Administrative Agent, may request an extension of the Termination Date in effect at such
time by one year from its then scheduled expiration. The Administrative Agent shall promptly notify each Lender of such request, and each Lender shall in turn, in its sole discretion, not later than 20 days prior to such anniversary date, notify the
Borrower and the Administrative Agent in writing as to whether such Lender will consent to such extension. If any Lender shall fail to notify the Administrative Agent and the Borrower in writing of its consent to any such request for extension of
the Termination Date at least 20 days prior to the applicable anniversary date, such Lender shall be deemed to be a Non-Consenting Lender with respect to such request. The Administrative Agent shall notify the Borrower not later than 15 days prior
to the applicable anniversary date of the decision of the Lenders regarding the Borrower’s request for an extension of the Termination Date. 
 (b) If all the Lenders consent in writing to any such request in accordance with subsection (a) of this Section 2.20, the Termination Date in effect at such time shall, effective as at the
applicable anniversary date (the “Extension Date”), be extended for one year; provided that on each Extension Date the 

  
 45 

 
applicable conditions set forth in Section 3.03 shall be satisfied. If less than all of the Lenders consent in writing to any such request in accordance with subsection (a) of this
Section 2.20, the Termination Date in effect at such time shall, effective as at the applicable Extension Date and subject to subsection (d) of this Section 2.20, be extended as to those Lenders that so consented (each a
“Consenting Lender”) but shall not be extended as to any other Lender (each a “Non-Consenting Lender”). To the extent that the Termination Date is not extended as to any Lender pursuant to this Section 2.20 and
the Commitment of such Lender is not assumed in accordance with subsection (c) of this Section 2.20 on or prior to the applicable Extension Date, the Commitment of such Non-Consenting Lender shall automatically terminate in whole on such
unextended Termination Date without any further notice or other action by the Borrower, such Lender or any other Person; provided that such Non-Consenting Lender’s rights under Sections 2.13, 2.15 and 8.03, and its obligations under
Section 8.03(c), shall survive the Termination Date for such Lender as to matters occurring prior to such date. It is understood and agreed that no Lender shall have any obligation whatsoever to agree to any request made by the Borrower for any
requested extension of the Termination Date. 
 (c) If less than all of the Lenders consent to any such request pursuant to
subsection (a) of this Section 2.20, the Administrative Agent shall promptly so notify the Consenting Lenders, and each Consenting Lender may, in its sole discretion, give written notice to the Administrative Agent not later than 10 days
prior to the Extension Date of the amount of the Non-Consenting Lenders’ Commitments for which it is willing to accept an assignment. If the Consenting Lenders notify the Administrative Agent that they are willing to accept assignments of
Commitments in an aggregate amount that exceeds the amount of the Commitments of the Non-Consenting Lenders, such Commitments shall be allocated among the Consenting Lenders willing to accept such assignments in such amounts as are agreed between
the Borrower and the Administrative Agent, provided that no Lender shall be subject to an increase in its Commitment in excess of the Commitment amount which it indicated it is willing to assume. If after giving effect to the assignments of
Commitments described above there remains any Commitments of Non-Consenting Lenders, the Borrower may arrange for one or more Consenting Lenders or other Eligible Assignees as Assuming Lenders to assume, effective as of the Extension Date, any
Non-Consenting Lender’s Commitment and all of the obligations of such Non-Consenting Lender under this Agreement thereafter arising, without recourse to or warranty by, or expense to, such Non-Consenting Lender; provided, however, that
the amount of the Commitment of any such Assuming Lender as a result of such substitution shall in no event be less than $15,000,000 unless the amount of the Commitment of such Non-Consenting Lender is less than $15,000,000, in which case such
Assuming Lender shall assume all of such lesser amount; and provided further that: 
 (i) any such
Consenting Lender or Assuming Lender shall have paid to such Non-Consenting Lender (A) the aggregate principal 

  
 46 

 
amount of, and any interest accrued and unpaid to the effective date of the assignment on, the outstanding Loans, if any, of such Non-Consenting Lender plus (B) any accrued but unpaid
facility fees owing to such Non-Consenting Lender as of the effective date of such assignment; 
 (ii) all
additional costs reimbursements, expense reimbursements and indemnities payable to such Non-Consenting Lender, and all other accrued and unpaid amounts owing to such Non-Consenting Lender hereunder, as of the effective date of such assignment shall
have been paid to such Non-Consenting Lender; and 
 (iii) with respect to any such Assuming Lender, the
applicable processing and recordation fee required under Section 8.04 for such assignment shall have been paid; 
 provided further
that such Non-Consenting Lender’s rights under Sections 2.13, 2.15 and 8.03, and its obligations under Section 8.03(c), shall survive such substitution as to matters occurring prior to the date of substitution. At least three Business Days
prior to any Extension Date, (A) each such Assuming Lender, if any, shall have delivered to the Borrower and the Administrative Agent an Assumption Agreement, duly executed by such Assuming Lender, such Non-Consenting Lender, the Borrower and
the Administrative Agent, (B) any such Consenting Lender shall have delivered confirmation in writing satisfactory to the Borrower and the Administrative Agent as to the increase in the amount of its Commitment and (C) each Non-Consenting
Lender being replaced pursuant to this Section 2.20 shall have delivered to the Administrative Agent any Note held by such Non-Consenting Lender. Upon the payment or prepayment of all amounts referred to in clauses (i), (ii) and
(iii) of the immediately preceding sentence, each such Consenting Lender or Assuming Lender, as of the Extension Date, will be substituted for such Non-Consenting Lender under this Agreement and shall be a Lender for all purposes of this
Agreement, without any further acknowledgment by or the consent of the other Lenders, and the obligations of each such Non-Consenting Lender hereunder (other than its obligations under Section 8.03(c) as to matters occurring prior to the date
of substitution) shall, by the provisions hereof, be released and discharged. 
 (d) If (after giving effect to any assignments
or assumptions pursuant to subsection (c) of this Section 2.20) Lenders having Commitments equal to at least 50% of the Commitments in effect immediately prior to the Extension Date consent in writing to a requested extension (whether by
execution or delivery of an Assumption Agreement or otherwise) not later than one Business Day prior to such Extension Date, the Administrative Agent shall so notify the Borrower, and, subject to the satisfaction of the applicable conditions in
Section 3.03, the Termination Date then in effect, with respect to each Consenting Lender and Assuming Lender therefor, shall be extended for the additional one-year period as described in subsection (a) of this Section 2.20, and all
references in this Agreement, and in the Notes, if any, to the “Termination Date” shall, with 

  
 47 

 
respect to each Consenting Lender and each Assuming Lender for such Extension Date, refer to the Termination Date as so extended. Promptly following each Extension Date, the Administrative Agent
shall notify the Lenders (including, without limitation, each Assuming Lender) of the extension of the scheduled Termination Date in effect immediately prior thereto and shall thereupon record in the Register the relevant information with respect to
each such Consenting Lender and each such Assuming Lender. 
 (e) As to any Non-Consenting Lender that is not replaced pursuant
to this Section 2.20 in connection with any Extension Date, its Commitment shall terminate on the Termination Date without giving effect to such Extension Date, and the respective LC Exposures of the other Lenders shall be redetermined on such
date on the basis of their respective Commitments after giving effect to such termination and the LC Exposure of each Lender whose Commitment terminates at that time shall terminate; provided that the Borrower shall, if and to the extent
necessary to permit such redetermination of the respective LC Exposures of the Lenders within the limits of the Commitments which are not terminated, prepay on such date all or a portion of the outstanding Loans, and such redetermination and
termination of LC Exposures shall be conditioned upon its having done so. 
 ARTICLE 3 

CONDITIONS TO EFFECTIVENESS AND CREDITS 

Section 3.01. Conditions Precedent to Effectiveness of Commitments. The Commitments of the Lenders under this Agreement shall
become effective on and as of the first date (the “Effective Date”) on which the following conditions precedent have been satisfied: 
 (a) There shall have occurred no material adverse change in the properties, business, or financial condition of the Borrower and its Subsidiaries taken as a whole since October 31, 2010, except as
disclosed in the Borrower’s filings with the SEC or as disclosed in writing to the Lenders prior to the date hereof. 
 (b)
Except as set forth under the heading “Legal Proceedings” in the Borrower’s 2010 Form 10-K and other SEC filings filed by Borrower prior to the Effective Date, there shall exist no action, suit or proceeding pending against, or to the
knowledge of the Borrower threatened against or affecting, the Borrower or any of its Subsidiaries before any court or arbitrator or any governmental body, agency or official (i) in which there is a reasonable possibility of an adverse
determination which would have a Material Adverse Effect, or (ii) which in any manner draws into question the validity of this Agreement or the Note. 
 (c) All governmental and third party consents and approvals necessary in connection with the transactions contemplated hereby shall have been obtained (without the imposition of any conditions that are
not acceptable to the Lenders) and shall remain in effect, and no law, regulation or provision in an existing 

  
 48 

 
agreement shall be applicable in the reasonable judgment of the Lenders that restrains, prevents or imposes materially adverse conditions upon the transactions contemplated hereby. 

(d) The Borrower shall have notified each Lender and the Administrative Agent in writing as to the proposed Effective Date. 

(e) The Borrower shall have paid (i) all fees then due in accordance with the Fee Letter and (ii) all invoiced expenses of the
Administrative Agent and the Arrangers (including the accrued reasonable fees and expenses of counsel to the Administrative Agent). 
 (f) On the Effective Date, the following statements shall be true and the Administrative Agent shall have received a certificate signed by a duly authorized officer of the Borrower, dated the Effective
Date, stating that: 
 (i) The representations and warranties contained in Section 4.01 are correct on and
as of the Effective Date, and 
 (ii) No event exists that constitutes a Default. 

(g) The Administrative Agent shall have received on or before the Effective Date the following, each dated such day, in form and
substance reasonably satisfactory to the Administrative Agent: 
 (i) The Notes to the order of the Lenders to
the extent requested by any Lender pursuant to Section 2.08. 
 (ii) Certified copies of the general
resolutions of the Board of Directors of the Borrower which authorize the Borrower to enter into this Agreement and the Notes, and of all documents evidencing other necessary corporate action and governmental approvals, if any, with respect to this
Agreement and the Notes. 
 (iii) A certificate of the Secretary or an Assistant Secretary of the Borrower
certifying the names and true signatures of the officers of the Borrower authorized to sign this Agreement and the Notes and the other documents to be delivered hereunder. 

(iv) A favorable opinion of the Vice President, Legal Affairs of the Borrower, substantially in the form of
Exhibit E hereto. 
 (v) A favorable opinion of Dewey & LeBoeuf LLP, counsel for the
Borrower, substantially in the form of Exhibit F hereto. 
 (h) The commitments of the lenders under the Existing
Credit Agreement shall have been terminated and all the obligations under the Existing 

  
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Credit Agreement shall have been repaid or prepaid (which repayment or prepayment may be made with the proceeds of the initial Borrowing hereunder). 

(i) The Lenders shall have received all documentation and other information required by regulatory authorities under applicable
“know your customer” and anti-money laundering rules and regulations, including, without limitation, the USA Patriot Act. 
 Section 3.02. Existing Credit Agreement. (a) On the Effective Date, the “Commitments” as defined in the Existing Credit Agreement shall terminate, without further action by any
party thereto. 
 (b) The Lenders which are parties to the Existing Credit Agreement, comprising the “Required
Lenders” as defined in the Existing Credit Agreement hereby waive any requirement of prior notice of termination of the Commitments (as defined in the Existing Credit Agreement) pursuant to Section 2.04 thereof and of prepayment of loans
thereunder, to the extent necessary to give effect to Section 3.01(h) hereof, provided that any such prepayment of loans thereunder shall be subject to Section 2.12 of the Existing Credit Agreement. 

Section 3.03. Conditions Precedent to Each Borrowing, Issuance, Commitment Increase and Extension Date. The obligation of
each Lender to make a Loan on the occasion of each Borrowing, the obligation of any Issuing Bank to issue a Letter of Credit, each Commitment Increase and each extension of Commitments pursuant to Section 2.20 shall be subject to the conditions
precedent that the Effective Date shall have occurred and on the date of such Borrowing or issuance, the applicable Increase Date or the applicable Extension Date (a) the following statements shall be true (and each of the giving of the
applicable Notice of Borrowing, request for issuance, request for Commitment Increase or request for Commitment extension and the acceptance by the Borrower of the proceeds of such Borrowing shall constitute a representation and warranty by the
Borrower that on the date of such Borrowing or issuance, such Increase Date or such Extension Date such statements are true): 
 (i) the representations and warranties contained in Section 4.01 (except, in the case of Borrowings, the representations set forth in Sections 4.01(d)(ii), 4.01(e) and 4.01(g)) are correct on and as
of such date, before and after giving effect to such Borrowing or issuance, such Commitment Increase or such Extension Date, as though made on and as of such date, and 

(ii) no event has occurred and is continuing, or would result from such Borrowing or issuance, such Commitment Increase or
such Extension Date or from the application of the proceeds therefrom, that constitutes a Default; 

  
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 and (b) the Administrative Agent shall have received such other approvals, opinions or documents as
any Lender through the Administrative Agent may reasonably request. 
 Section 3.04. Determinations Under
Section 3.01. For purposes of determining compliance with the conditions specified in Section 3.01, each Lender 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 the Lenders unless an officer of the Administrative Agent responsible for the transactions contemplated by this Agreement shall have received notice from such Lender prior
to the date that the Borrower, by notice to the Lenders, designates as the proposed Effective Date, specifying its objection thereto. The Administrative Agent shall promptly notify the Lenders of the occurrence of the Effective Date. 

ARTICLE 4 

REPRESENTATIONS AND WARRANTIES 

Section 4.01. Representations and Warranties of the Borrower. The Borrower represents and warrants as follows: 

(a) Corporate Existence and Power. Each of the Borrower and each Subsidiary: 

(i) is a corporation duly organized and validly existing under the laws of its jurisdiction of incorporation, except,
solely with respect to Subsidiaries, where failure to be duly organized and validly existing under the laws of the applicable jurisdiction of incorporation would not in the aggregate have a Material Adverse Effect; 

(ii) has all requisite power and authority and all necessary licenses and permits to own and operate its properties and to
carry on its business as now conducted and as presently proposed to be conducted, except where failures to have such licenses and permits would not, in the aggregate, have a Material Adverse Effect; and 

(iii) is duly licensed or qualified and is in good standing as a foreign corporation in each jurisdiction wherein the
nature of the business transacted by it or the nature of the property owned or leased by it makes such licensing or qualification necessary, except where failures to be so licensed, qualified or in good standing would not, in the aggregate, have a
Material Adverse Effect. 
 (b) Corporate and Governmental Authorization; No Contravention. The execution, delivery and
performance by the Borrower of this Agreement and the Notes are within the Borrower’s corporate powers, have been duly authorized by all necessary corporate action, require no action by or in respect of, or filing

  
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with, any governmental body, agency or official and do not contravene, or constitute a default under (i) the certificate of incorporation or by-laws of the Borrower, (ii) any agreement
that purports to affect the Borrower’s ability to borrow money or the Borrower’s obligations under this Agreement or the Notes, or any judgment, injunction, order or decree binding upon the Borrower or any of its Subsidiaries,
(iii) any provision of material applicable law or regulation or result in the creation or imposition of any Lien on any asset of the Borrower or any of its Subsidiaries not otherwise permitted by Section 5.02(a). 

(c) Binding Effect. This Agreement constitutes a valid and binding agreement of the Borrower and the Notes, when executed and
delivered in accordance with this Agreement, will constitute a valid and binding obligation of the Borrower, in each case enforceable in accordance with its terms, except as limited by (i) bankruptcy, insolvency or similar laws affecting
creditors’ rights generally and (ii) general principles of equity. 
 (d) Financial Information. (i) The
consolidated balance sheet of the Borrower and its Subsidiaries as of October 31, 2010, and the related consolidated statements of operations and cash flows for the fiscal year then ended, reported on by KPMG LLP and set forth in the
Borrower’s 2010 Form 10-K (or an exhibit thereto), a copy of which has been obtained by each of the Lenders, fairly present, in conformity with generally accepted accounting principles, the consolidated financial position of the Borrower and
its Subsidiaries as of such date and their consolidated results of operations and cash flows for such fiscal year. 
 (ii) There
has been no material adverse change since October 31, 2010, in the business, financial position or results of operations of the Borrower and its Subsidiaries, considered as a whole, except as disclosed in the Borrower’s filings with the
SEC prior to the Effective Date. 
 (e) Litigation. Except as set forth under the heading “Legal Proceedings”
in the Borrower’s 2010 Form 10-K and as disclosed in any SEC filings of the Borrower made prior to the Effective Date, and then only to the extent that there have been no adverse developments with respect to such “Legal Proceedings”
since such Form 10-K or in such SEC filings, there is no action, suit or proceeding pending against, or to the knowledge of the Borrower any investigation, action, suit or proceeding threatened against or affecting, the Borrower or any of its
Subsidiaries before any court or arbitrator or any governmental body, agency or official (i) in which there is a reasonable possibility of an adverse determination which would have a Material Adverse Effect, or (ii) which in any manner
draws into question the validity of this Agreement or the Notes. 
 (f) Compliance with ERISA. Each member of the ERISA
Group has fulfilled its obligations under the minimum funding standards of ERISA and the Internal Revenue Code with respect to each Plan and is in compliance in all material respects with the presently applicable provisions of ERISA and the

  
 52 

 
Internal Revenue Code with respect to each Plan. No member of the ERISA Group has (i) sought a waiver of the minimum funding standard under Section 412 of the Internal Revenue Code in
respect of any Plan, (ii) failed to make any contribution or payment to any Plan or Multiemployer Plan or in respect of any Benefit Arrangement, or made any amendment to any Plan or Benefit Arrangement, which has resulted or could result in the
imposition of a Lien or the posting of a bond or other security under ERISA or the Internal Revenue Code which will violate Section 5.02(a) hereof or (iii) incurred any unpaid liability in excess of $*** under Title IV of ERISA other than
a liability to the PBGC for premiums under Section 4007 of ERISA. 
 (g) Environmental Matters. The Borrower has a
process of conducting periodic internal reviews relating to compliance by the Borrower and its Subsidiaries with Environmental Laws and liabilities thereunder. On the basis of such reviews and other business processes, except as set forth in the
Borrower’s 2010 Form 10-K and as disclosed in any SEC filings of the Borrower prior to the date hereof, nothing has come to the attention of the Borrower which would lead it to believe that costs associated with compliance with Environmental
Laws or liabilities thereunder (including, without limitation, any capital or operating expenses required for cleanup, closure of properties or compliance with Environmental Laws or any permit, license or approval, any related constraints on
operating activities and any potential liabilities to third parties) would have a Material Adverse Effect. 
 (h) Taxes.
All federal and state income tax returns required to be filed by the Borrower or any Subsidiary in any jurisdiction have, in fact, been filed and all other tax returns required to be filed in any other jurisdiction have, in fact, been filed, except
where the failure to so file in such jurisdictions (other than in connection with federal or state income tax returns) would not have a Material Adverse Effect, and all taxes, assessments, fees and other governmental charges upon the Borrower or any
Subsidiary or upon any of their respective properties, income or franchises, which are shown to be due and payable in such returns, have been paid. The provisions for taxes on the books of the Borrower and each Subsidiary are adequate for all open
years, and for its current fiscal period. 
 (i) Investment Company Act. The Borrower is not an “investment
company” as defined in, or subject to regulation under, the Investment Company Act of 1940. 
 (j) Full Disclosure.
All written information heretofore furnished by the Borrower to the Agent and the Lenders for purposes of or in connection with this Agreement or any transaction contemplated hereby does not, and all such written information hereafter furnished by
the Borrower to the Agent and the Lenders will not, when taken as a whole and including any filings made with the SEC, contain any untrue statement of a material fact or in the aggregate omit a material fact necessary to make the statements therein
not misleading on the date as of which such information is stated or certified; provided that with respect to projected 

  
  

	***	INFORMATION HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS.

 53 

 
financial information, the Borrower represents only that such information was prepared in good faith based upon assumptions believed to be reasonable at the time (it being understood that such
projections and forecasts are subject to uncertainties and contingencies and no assurances can be given that such projections or forecasts will be realized). 
 ARTICLE 5 
 COVENANTS OF THE
BORROWER 
 Section 5.01. Affirmative Covenants. So long as any Lender shall have any Credit Exposure
or any Commitment hereunder, the Borrower will: 
 (a) Compliance with Laws, Etc. Comply, and cause each Subsidiary to
comply, in all material respects with all applicable laws, ordinances, rules, regulations, and requirements of governmental authorities (including, without limitation, Environmental Laws and ERISA and the rules and regulations thereunder) except
(A) where the necessity of compliance therewith is contested in good faith by appropriate proceedings or (B) where the violation of which, individually or in the aggregate, would not reasonably be expected to (x) result in a Material
Adverse Effect or (y) if such violation is not remedied, result in any Lien not permitted under Section 5.02(a). 

(b) Payment of Obligations. Pay and discharge, and cause each Subsidiary to pay and discharge, at or before maturity, all their
respective material obligations and liabilities, including, without limitation, tax liabilities, except where the same may be contested in good faith by appropriate proceedings, and maintain, and cause each Subsidiary to maintain, in accordance with
GAAP, appropriate reserves for the accrual of any of the same. 
 (c) Maintenance of Property; Insurance. (i) Keep,
and cause each Subsidiary to keep, all property material to its business in good working order and condition (ordinary wear and tear excepted) except to the extent that failure to do so could not be reasonably expected to result in a Material
Adverse Effect; provided that nothing in this Section 5.01(c)(i) shall prevent the abandonment of any property if such abandonment does not result in any Default hereunder and the Borrower determines, in the exercise of its reasonable business
judgment, that such abandonment is in the interest of the Borrower. 
 (ii) Maintain, and cause each Subsidiary
to maintain, insurance coverage by financially sound and reputable insurers and in such forms and amounts and against such risks as are customary for corporations of similar size engaged in the same or a similar business and owning and operating
similar properties in similar locations. 
 (d) Preservation of Corporate Existence, Etc. Preserve, renew and keep in
full force and effect, and cause each Subsidiary to preserve, renew and keep in full force and effect, their respective corporate existence and their respective 

  
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rights, privileges and franchises, except to the extent that failures to maintain their respective rights, privileges and franchises could not, in the aggregate, reasonably be expected to have a
Material Adverse Effect; provided that nothing in this Section 5.01(d) shall prohibit (A) the merger of a Subsidiary into the Borrower or the merger or consolidation of a Subsidiary with or into another Person if the corporation
surviving such consolidation or merger is a Subsidiary and if, in each case, after giving effect thereto, no Event of Default shall have occurred and be continuing or (B) the termination of the corporate existence of any Subsidiary if such
termination does not result in any Default hereunder and the Borrower determines, in the exercise of its reasonable business judgment, that such termination is in the interest of the Borrower. 

(e) Visitation Rights. Permit the Administrative Agent and the Lenders (i) to visit and inspect during normal business hours
(at the expense of such Lender unless an Event of Default has occurred and is continuing), under the Borrower’s guidance and upon reasonable prior notice if a Default shall have occurred and be continuing or, so long as no Default shall have
occurred and be continuing, upon not less than three Business Days prior notice, any of the properties of the Borrower or any Subsidiary, (ii) to examine (to the extent material to ascertaining compliance with the terms and provisions hereof or
to the extent reasonably related to the financial condition or material operations of the Borrower or a Subsidiary) all of their books of account, records, reports and other papers, and to make copies and extracts therefrom (other than
attorney-client privileged and attorney work-product documents) and (iii) to the extent material to ascertaining compliance with the terms and provisions hereof or to the extent reasonably related to the financial condition or material
operations of the Borrower or a Subsidiary, to discuss their respective affairs, finances and accounts with their respective officers, employees (who are managers or officers), and independent public accountants and by this provision the Borrower
authorizes said accountants to discuss with the Administrative Agent and the Lenders the finances and affairs of the Borrower and its Subsidiaries; provided that the Administrative Agent or the applicable Lender shall have given prior written
notice to the Borrower of its intention to discuss such finances and affairs with such accountants and have given the Borrower the opportunity to participate in such discussions, all at such reasonable times and as often as may be reasonably
requested. Such inspection and other rights are subject to the provisions of Section 8.12 and applicable law, and shall not extend to trade secrets of the Borrower or its Subsidiaries, to information covered by attorney-client or other
privilege or to information subject to third party confidentiality agreements or privacy rights. 
 (f) Keeping of Books.
Keep, and cause each of its Subsidiaries to keep, proper books of record and account, in which full, true and correct entries shall be made of all dealings and transactions in relation to its business and activities in accordance with generally
accepted accounting principles in effect from time to time. 

  
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 (g) Reporting Requirements. Deliver in writing or by email to the Administrative
Agent (except as stated in clauses (i), (ii), (iv), (vi) and (vii) below and Section 8.01(b)) or make available electronically: 
 (i) as soon as available and in any event within 45 days after the end of each quarterly fiscal period (except the last) of each fiscal year, copies of: 

(A) a consolidated balance sheet of the Borrower and its Subsidiaries as of the close of such quarterly fiscal period,
setting forth in comparative form the consolidated figures as of the close of the fiscal year then most recently ended, 
 (B) consolidated statements of operations of the Borrower and its Subsidiaries for such quarterly fiscal period and for the portion of the fiscal year ending with such quarterly fiscal period, in each
case setting forth in comparative form the consolidated figures for the corresponding period and portion of the preceding fiscal year and 
 (C) a consolidated statement of cash flows of the Borrower and its Subsidiaries for the portion of the fiscal year ending with such quarterly fiscal period, setting forth in comparative form the
consolidated figures for the corresponding period of the preceding fiscal year, 
 it being agreed that (1) delivery of such
financial statements shall be deemed to be a representation by the Borrower that such financial statements fairly present, in conformity with GAAP, the consolidated financial position of the Borrower and its Subsidiaries as of the close of such
quarterly fiscal period and their consolidated results of operations and cash flows for the portion of the fiscal year ending at the end of such quarterly fiscal period (subject to normal year-end adjustments) and (2) the Borrower may satisfy
the requirements of this Section 5.01(g)(i) by filing its Quarterly Report on Form 10-Q with the SEC; provided that such Form 10-Q satisfies the foregoing requirements of this paragraph (i); 

(ii) as soon as available and in any event within 90 days after the close of each fiscal year of the Borrower, copies of:

 (A) a consolidated balance sheet of the Borrower and its Subsidiaries as of the close of such fiscal year, and

 (B) consolidated statements of operations and cash flows of the Borrower and its Subsidiaries for such fiscal
year, 
 in each case setting forth in comparative form the consolidated figures for the two preceding fiscal years, all in
reasonable detail and accompanied by 

  
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a report thereon of a firm of independent public accountants of recognized national standing selected by the Borrower to the effect that the consolidated financial statements present fairly, in
all material respects, the consolidated financial position of the Borrower and its Subsidiaries as of the end of the fiscal year being reported on and their consolidated results of operations and cash flows for said year in conformity with GAAP and
that the examination of such accountants in connection with such financial statements has been conducted in accordance with generally accepted auditing standards, it being agreed that the Borrower may satisfy the requirements of this
Section 5.01(g)(ii) by filing its Annual Report on Form 10-K with the SEC; provided that such Form 10-K (including the exhibits filed therewith) satisfies the requirements of this paragraph (ii); 

(iii) promptly upon receipt thereof, one copy of each interim or special audit made by independent accountants of the
books of the Borrower or any Subsidiary, in all cases, material to the financial condition or operations of the Borrower or of the Borrower and its Subsidiaries taken as a whole, and any management letter received from such accountants for the
Borrower or such Subsidiary that is material to the financial condition or operations of the Borrower or of the Borrower and its Subsidiaries taken as a whole; 
 (iv) promptly upon their becoming available, (A) one copy of each financial statement, report, notice or proxy statement sent by the Borrower to stockholders generally and of each regular or periodic
report, and any registration statement or prospectus (other than those on Form S-8) filed by the Borrower or any Subsidiary with any securities exchange or the SEC or any successor agency; provided that the filing of such document with the
SEC shall satisfy such requirement, and (B) one copy of any orders in any proceedings to which the Borrower or any of its Subsidiaries is a party, issued by any governmental agency, Federal or state, having jurisdiction over the Borrower or any
of its Subsidiaries, which orders are material to the financial condition or operations of the Borrower or the Borrower and its Subsidiaries taken as a whole; 
 (v) promptly upon the occurrence thereof, written notice of (A) a Reportable Event with respect to any Plan; (B) the institution of any steps by the Borrower, any ERISA Affiliate, the PBGC or
any other person to terminate any Plan if such termination were to result in a liability of the Borrower or any Subsidiary to the PBGC in an amount which could materially and adversely affect the condition, financial or otherwise, of the Borrower or
of the Borrower and its Subsidiaries taken as a whole; (C) the institution of any steps by the Borrower or any ERISA Affiliate to withdraw from any Plan or any Multiemployer Plan if such withdrawal would result in a liability of the Borrower or
any Subsidiary in an amount which could materially and adversely affect the condition, financial or otherwise, of the Borrower or of the Borrower and its 

  
 57 

 
Subsidiaries taken as a whole; (D) a “prohibited transaction” within the meaning of Section 406 of ERISA (which has not been exempted under or pursuant to Section 408 of
ERISA) in connection with any Plan if such “prohibited transaction” would result in a liability of the Borrower or any Subsidiary in an amount which could materially and adversely affect the condition, financial or otherwise, of the
Borrower or of the Borrower and its Subsidiaries taken as a whole; (E) any increase in the contingent liability of the Borrower or any Subsidiary with respect to any post-retirement welfare liability in an amount that could have a Material
Adverse Effect; or (F) the taking of any action by, or the threat in writing of the taking of any action by, the Internal Revenue Service, the Department of Labor or the PBGC with respect to any of the foregoing; 

(vi) within the periods provided in paragraphs (i) and (ii) above, a certificate of an authorized financial
officer of the Borrower stating that such officer has reviewed the provisions of this Agreement and (A) setting forth the information and computations (in sufficient detail) required in order to establish whether the Borrower was in compliance
with the requirements of Sections 5.02(a) and 5.03 at the end of the period covered by the financial statements then being furnished and (B) stating whether there existed as of the date of such financial statements and whether, to the best of
such officer’s knowledge, there exists on the date of the certificate or existed at any time during the period covered by such financial statements any Default and, if any such condition or event exists on the date of the certificate,
specifying the nature and period of existence thereof and the action the Borrower is taking and proposes to take with respect thereto; provided, that the email of such certificate in accordance with Section 8.01(b) shall satisfy the delivery
requirements of this paragraph; 
 (vii) within five days after any officer of the Borrower obtains knowledge of
any Default, if such Default is then continuing, a certificate of the chief financial officer or the chief accounting officer of the Borrower setting forth the details thereof and the action which the Borrower is taking and proposes to take with
respect thereto; 
 (viii) promptly upon any change in the Public Debt Rating, a notice reporting such change and
stating the date on which such change was publicly announced by the relevant rating agency; and 
 (ix) from time
to time such additional information regarding the financial position or business of the Borrower and its Subsidiaries as any Lender through the Agent may reasonably request. 
 Section 5.02. Negative Covenants. So long as any Lender shall have any Credit Exposure or any Commitment hereunder, the Borrower will not: 

  
 58 

 (a) Liens, Etc. Create, incur or suffer to exist, or permit any of its Subsidiaries
to create, incur or suffer to exist, any Lien on or with respect to any of its properties, whether now owned or hereafter acquired, or upon any income or profits therefrom, or acquire or agree to acquire, or permit any Subsidiary to acquire, any
property or assets upon conditional sales agreements or other title retention devices, except: 
 (i) Liens for
taxes and assessments or governmental charges or levies and Liens securing claims or demands of mechanics and materialmen, provided that payment thereof is not at the time required by Section 5.01(a) or (b); 

(ii) any Lien of or resulting from any judgment or award; provided that either (A) the amount secured thereby does
not exceed *** or (B) if the amount secured thereby does exceed ***, the time for the appeal or petition for rehearing of such judgment or award shall not have expired, or the Borrower or a Subsidiary shall in good faith be prosecuting an
appeal or proceeding for a review thereof, and execution of such judgment or award shall be stayed pending such appeal or proceeding for review; 
 (iii) Liens incidental to the conduct of business conducted by the Borrower and its Subsidiaries in the ordinary course of business or the ownership of properties and assets owned by the Borrower and its
Subsidiaries (including Liens in connection with worker’s compensation, unemployment insurance and other like laws, warehousemen’s and attorneys’ liens and statutory landlords’ liens) and Liens to secure the performance of bids,
tenders or trade contracts, or to secure statutory obligations, surety or appeal bonds or other Liens of like general nature incurred in the ordinary course of business of the Borrower and its Subsidiaries and not in connection with the borrowing of
money, provided in each case, the obligation secured is not overdue or, if overdue, is being contested in good faith by appropriate actions or proceedings; 
 (iv) survey exceptions or encumbrances, encroachments, easements or reservations, or rights of others for rights-of-way, utilities and other similar purposes, zoning restrictions, declarations of
covenants, conditions and restrictions, other title exceptions or other restrictions as to the use of real properties, which are necessary or appropriate in the good faith judgment of the Borrower for the conduct of the business of the Borrower and
its Subsidiaries and which, individually or in the aggregate, do not in any event materially impair their use in the operation of the business of the Borrower or of the Borrower and its Subsidiaries taken as a whole; 

 
  

	***	INFORMATION HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS.

  
 59 

 (v) Liens securing Indebtedness of a Subsidiary to the Borrower or to
another Subsidiary; 
 (vi) Liens existing as of the Effective Date and reflected in Schedule 5.02(a) hereto,
including any renewals, extensions or replacements of any such Lien, provided that: 
 (A) no additional property
is encumbered in connection with any such renewal, extension or replacement of any such Lien; and 
 (B) there is
no increase in the aggregate principal amount of Debt secured by any such Lien from that which was outstanding or permitted to be outstanding with respect to such Lien as of the Effective Date or the date of such renewal, extension or replacement,
whichever is greater, other than increases attributable to accrued interest, premiums, fees and expenses payable by the Borrower in connection with such renewal, extension or replacement; 

(vii) (x) Liens incurred after the Effective Date given to secure the payment of the purchase price and/or other direct
costs incurred in connection with the acquisition, construction, improvement or rehabilitation of assets (including Liens incurred by the Borrower or any Subsidiary securing Debt incurred in connection with industrial development bond and pollution
control financings), and (y) Liens existing on assets at the time of acquisition thereof or at the time of acquisition by the Borrower or a Subsidiary of any business entity (including a Subsidiary) then owning such assets, whether or not such
existing Liens were given to secure the payment of the purchase price of the assets to which they attach, provided that (A) except in the case of Liens existing on assets at the time of acquisition thereof or at the time of acquisition by the
Borrower or a Subsidiary of any business entity (including a Subsidiary) then owning such assets, the Lien shall be created within twelve (12) months of the later of the acquisition of, or the completion of the construction, improvement or
rehabilitation in respect of, such assets and shall attach solely to the assets acquired, purchased, or financed, and (B) except in the case of Liens existing on assets at the time of acquisition thereof or at the time of acquisition by the
Borrower or a Subsidiary of any business entity (including a Subsidiary) then owning such assets or Liens in connection with industrial development bond or pollution control financings, at the time of the incurrence of such Lien, the aggregate
amount remaining unpaid on all Debt secured by Liens on such assets whether or not assumed by the Borrower or a Subsidiary shall not exceed an amount equal to 75% of the lesser of the total purchase price or

  
 60 

 
fair market value, at the time such Debt is incurred, of such assets (as determined in good faith by the Board of Directors of the Borrower); Liens arising from the sale or transfer of accounts
receivable and notes of the Borrower and its Subsidiaries, provided that the Borrower and its Subsidiaries shall receive adequate consideration therefor; 
 (viii) Liens on notes or accounts receivable sold or transferred in a transaction which is accounted for as a true sale under GAAP; 

(ix) Liens securing Debt, to the extent that such Liens are not otherwise permitted by this Section 5.02(a), provided
that immediately after giving effect to the incurrence of any such Lien, the sum of the aggregate principal amount of all outstanding Debt secured by Liens permitted solely by reason of this Section 5.02(a)(ix) (together with any renewals,
extensions, refinancings or refundings thereof) shall not exceed the higher of (A) 15% of Consolidated Net Tangible Assets and (B) ***; and 
 (x) Liens incurred in connection with any renewals, extensions, refinancings or refundings of any Debt secured by Liens described in Sections 5.02(a)(vii), 0, 0 or (ix), provided that there is no
increase in the aggregate principal amount of Debt secured thereby, other than increases attributable to accrued interest, premiums, fees and expenses payable by the Borrower in connection with such renewal, extension or refinancing or refunding,
and no additional property is encumbered. 
 In the event that any property of the Borrower or its Subsidiaries is subjected to a lien in
violation of this Section 5.02(a), but no other provision of this Agreement (the Indebtedness secured by such lien being referred to as “Prohibited Secured Indebtedness”), such violation shall not constitute an Event of Default
hereunder if the Borrower, substantially simultaneously with the incurrence of such lien, makes or causes to be made a provision whereby the obligations of the Borrower under the Loan Documents will be secured equally and ratably with all Prohibited
Secured Indebtedness and delivers to the Agent and the Lenders an opinion to that effect, and, in any case, such obligations shall have the benefit, to the full extent that, and with such priority as, the Lenders may be entitled to under applicable
law, of an equitable lien to secure such obligations on such property of the Borrower or its Subsidiaries that secures Prohibited Secured Indebtedness. The opinion referred to in the preceding sentence shall be addressed to the Administrative Agent
and the Lenders, shall contain such qualifications and limitations as are reasonably acceptable to the Administrative Agent and the Required Lenders and shall be delivered by counsel of nationally recognized standing selected by the Borrower and
satisfactory to the Administrative Agent and the Required Lenders. Such counsel shall be deemed to be satisfactory to the 

  
  

	***	INFORMATION HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS.

  
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Administrative Agent and the Required Lenders unless, during the 15 day period after the Agent has received written notice identifying such counsel, the Administrative Agent shall have objected
to such selection in writing to the Borrower. 
 (b) Consolidations, Mergers and Sales of Assets. Consolidate or merge
with or into any other Person or sell, lease or otherwise transfer, directly or indirectly, all or substantially all of its assets to any other Person; provided that the Borrower may merge with another Person if immediately after giving
effect to such merger (x) no Default shall exist, and (y) the Borrower is the surviving entity. 
 (c) Accounting
Changes. Make or permit, or permit any of its Subsidiaries to make or permit, any change in accounting policies or reporting practices, except as required or permitted by GAAP. 

(d) Change in Nature of Business. Engage, or permit any of its Subsidiaries to engage, in any business if, as a result, the
primary business, taken on a consolidated basis, which would then be engaged in by the Borrower and its Subsidiaries would be substantially different from those lines of business conducted by the Borrower and its Subsidiaries immediately prior
thereto or in connection with any business reasonably related or ancillary thereto. 
 (e) Use of Proceeds. Use proceeds
of the Loans made under this Agreement, directly or indirectly, for the purpose, whether immediate, incidental or ultimate, of buying or carrying Margin Stock that would result in a violation of Regulation U of the Board of Governors of the Federal
Reserve System, as in effect from time to time. 
 (f) Transactions with Affiliates. Enter into or be a party to, or
permit any Subsidiary to enter into or be a party to, any transaction or arrangement with any Affiliate (including, without limitation, the purchase from, sale to or exchange of property with, or the rendering of any service by or for, any
Affiliate), except in the ordinary course of and pursuant to the reasonable requirements of the Borrower’s or such Subsidiary’s (as the case may be) business and upon fair and reasonable terms or on terms no less favorable to the Borrower
or such Subsidiary than would be obtained in a comparable arm’s-length transaction with a Person other than an Affiliate, except where failure to do so would not have a Material Adverse Effect. 

Section 5.03. Financial Covenant. So long as any Lender shall have any Credit Exposure or any Commitment hereunder, the
Borrower will maintain, as of the last day of each fiscal quarter, a ratio of Consolidated Funded Debt to the sum of Consolidated Funded Debt plus Consolidated shareholders’ equity of not

  
 62 

 
greater than *** to ***. 
 ARTICLE 6 

EVENTS OF DEFAULT 
 Section 6.01. Events of Default. If any of the following events (“Events of Default”) shall occur and be continuing: 

(a) the Borrower shall fail to pay any principal of any Loan or to reimburse any LC Disbursement when due or shall fail to pay any
interest, fee, or other amount payable hereunder within three Business Days or five days after it becomes due, whichever is later; 
 (b) any representation, warranty, certification or statement made by the Borrower in this Agreement or in any certificate, financial statement or other document delivered pursuant to this Agreement shall
prove to have been incorrect in any material respect when made (or deemed made); 
 (c) the Borrower shall fail to perform or
observe any other term, covenant or agreement contained in this Agreement on its part to be performed or observed (other than clause (a) above) if such failure shall remain unremedied for 30 days after written notice thereof shall have been
given to the Borrower by the Agent or any Lender; 
 (d) the Borrower or any Subsidiary shall fail to make any payment in
respect of any Material Financial Obligations when due or within any applicable grace period; 
 (e) any event or condition
shall occur which results in the acceleration of the maturity of any Material Debt or enables (after the lapse of any cure period and the receipt of any required notices) the holder of such Debt or any Person acting on such holder’s behalf to
accelerate the maturity thereof; 
 (f) the Borrower or any Subsidiary shall commence a voluntary case or other proceeding
seeking liquidation, reorganization or other relief with respect to itself or its debts under any bankruptcy, insolvency or other similar law now or hereafter in effect or seeking the appointment of a trustee, receiver, liquidator, custodian or
other similar official of it or any substantial part of its property, or shall consent to any such relief or to the appointment of or taking possession by any such official in an involuntary case or other proceeding commenced against it, or shall
make a general assignment for the benefit of creditors, or shall fail generally to pay its debts as they become due, or shall admit in writing its inability to pay its debts generally, or shall take any corporate action to authorize any of the
foregoing; provided that no event otherwise constituting an Event of 

  
  

	***	INFORMATION HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS.

  
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Default under this clause (f) shall be an Event of Default if the total assets of all entities with respect to which an event has occurred which would otherwise have constituted an Event of
Default under this clause (f) or clause (g) do not exceed *** in the aggregate; 
 (g) an involuntary case or other
proceeding shall be commenced against the Borrower or any Subsidiary seeking liquidation, reorganization or other relief with respect to it or its debts under any bankruptcy, insolvency or other similar law now or hereafter in effect or seeking the
appointment of a trustee, receiver, liquidator, custodian or other similar official of it or any substantial part of its property, and such involuntary case or other proceeding shall remain undismissed and unstayed for a period of 60 days; or an
order for relief shall be entered against the Borrower or any Subsidiary under the federal bankruptcy laws as now or hereafter in effect; provided that no event otherwise constituting an Event of Default under this clause (g) shall be an Event
of Default if the total assets of all entities with respect to which an event has occurred which would otherwise have constituted an Event of Default under clause (f) or this clause (g) do not exceed *** in the aggregate; 

(h) any ERISA Affiliate shall fail to pay when due (or in the case of an ERISA Affiliate acquired by the Borrower or a Subsidiary after
the due date thereof, within 30 days after such ERISA Affiliate is so acquired) an amount or amounts aggregating in excess of *** which it shall have become liable to pay under Title IV of ERISA; or notice of intent to terminate a Material Plan
shall be filed under Title IV of ERISA by any ERISA Affiliate, any plan administrator or any combination of the foregoing; or the PBGC shall institute proceedings under Title IV of ERISA to terminate, to impose liability (other than for premiums
under Section 4007 of ERISA) in respect of, or to cause a trustee to be appointed to administer any Material Plan; or there shall occur a complete or partial withdrawal from, or a default, within the meaning of Section 4219(c)(5) of ERISA,
with respect to, one or more Multiemployer Plans which could cause one or more ERISA Affiliates to incur a current payment obligation in excess of ***; 
 (i) final judgments or orders for the payment of money in excess of *** in the aggregate (excluding amounts with respect to which a financially sound and reputable insurer has admitted liability as
provided below) shall be rendered against the Borrower or any Subsidiary and such judgments or orders shall continue unsatisfied, unbonded, unvacated or unstayed for a period of 60 consecutive days; provided, however, that any such judgment or order
shall not be an Event of Default under this Section 6.01(i) if and for so long as and to the extent that (i) the amount of such judgment or order is covered (subject to deductibles) by a valid and binding policy of insurance between the
defendant and the insurer or insurers covering payment thereof, (ii) such insurer shall be rated, or , if more than one insurer, at least 90% of such insurers as measured by the 

  
  

	***	INFORMATION HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS.

  
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amount of risk insured shall be rated, at least “A-” by A.M. Best Company or its successor or successors, and (iii) such insurer(s) has been notified of, and has not refused the
claim made for payment of, the amount of such judgment or order; or 
 (j) either (i) any person or group of persons
(within the meaning of Section 13 or 14 of the Exchange Act) shall have acquired beneficial ownership (within the meaning of Rule 13d-3 promulgated by the SEC under said Act) of 30% or more of the outstanding shares of Voting Stock of the
Borrower; or (ii) during any period of 12 consecutive calendar months, commencing before or after the date of this Agreement, individuals who were directors of the Borrower on the first day of such period (the “Initial Directors”)
shall cease for any reason to constitute a majority of the board of directors of the Borrower unless the Persons replacing such individuals were nominated or elected by a majority of the directors (x) who were Initial Directors at the time of
such nomination or election and/or (y) who were nominated or elected by a majority of directors who were Initial Directors at the time of such nomination or election; 
 then, and in any such event, the Agent (i) shall at the request, or may with the consent, of the Required Lenders, by notice to the Borrower, declare the obligation of each Lender to make Loans to be
terminated, whereupon the same shall forthwith terminate, and (ii) shall at the request, or may with the consent, of the Required Lenders, by notice to the Borrower, declare the Loans, all interest thereon and all other amounts payable under
this Agreement to be forthwith due and payable, whereupon the Loans, all such interest and all such amounts shall become and be forthwith due and payable, without presentment, demand, protest or further notice of any kind, all of which are hereby
expressly waived by the Borrower; provided, however, that in the case of any of the Events of Default specified in clause (f) or (g) above with respect to the Borrower, (A) the obligation of each Lender to make Loans shall be
automatically terminated and (B) the Loans, all such interest and all such amount shall automatically, without any notice to the Borrower or any other act by the Agent or any Lender, become and be due and payable, without presentment, demand,
protest or any notice of any kind, all of which are hereby expressly waived by the Borrower. 
 ARTICLE 7 

THE ADMINISTRATIVE AGENT 

Each of the Lenders and the Issuing Banks hereby irrevocably appoints the Administrative Agent as its agent 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, together with such actions and powers as are reasonably incidental thereto. 

The bank 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 such bank and its Affiliates may accept deposits from, lend money to and generally engage 

  
 65 

 
in any kind of business with the Borrower or any of its Subsidiaries or other Affiliate thereof as if it were not the Administrative Agent hereunder. 

The Administrative Agent shall not have any duties or obligations except those expressly set forth herein. Without limiting the
generality of the foregoing, (a) the Administrative Agent shall not be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is continuing, (b) the Administrative Agent shall not have any duty
to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby that the Administrative Agent is required to exercise in writing as directed by the Required Lenders (or such
other number or percentage of the Lenders as shall be necessary under the circumstances as provided in Section 8.02), and (c) except as expressly set forth herein, the Administrative Agent shall not have any duty to disclose, and shall not
be liable for the failure to disclose, any information relating to the Borrower or any of its Subsidiaries that is communicated to or obtained by the bank serving as Administrative Agent or any of its Affiliates in any capacity. The Administrative
Agent shall not be liable for any action taken or not taken by it with the consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary under the circumstances as provided in
Section 8.02) or in the absence of its own gross negligence or willful misconduct. The Administrative Agent shall be deemed not to have knowledge of any Default unless and until written notice thereof is given to the Administrative Agent by the
Borrower or a Lender, and the Administrative Agent shall not be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or representation made in or in connection with any Loan Document, (ii) the contents
of any certificate, report or other document delivered hereunder or in connection herewith, (iii) the performance or observance of any of the covenants, agreements or other terms or conditions set forth herein, (iv) the validity,
enforceability, effectiveness or genuineness of any Loan Document or any other agreement, instrument or document, or (v) the satisfaction of any condition set forth in Article 3 or elsewhere herein, other than to confirm receipt of items
expressly required to be delivered to the 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 believed by it to be genuine and to have been signed or sent by the proper Person. The Administrative Agent
also may rely upon any statement made to it orally or by telephone and believed by it to be made by the proper Person, and shall not incur any liability for relying thereon. 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. 

The Administrative Agent may perform any and all its duties and exercise its rights and powers by or through any one or more sub-agents
appointed by the 

  
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Administrative Agent. The Administrative Agent and any such sub-agent may perform any and all its duties and exercise its rights and powers through their respective Related Parties. The
exculpatory provisions of the preceding paragraphs shall apply to any such sub-agent and to the Related Parties of the Administrative Agent and any such sub-agent, and shall apply to their respective activities in connection with the syndication of
the credit facilities provided for herein as well as activities as Administrative Agent. 
 Subject to the appointment and
acceptance of a successor Administrative Agent as provided in this paragraph, the Administrative Agent may resign at any time by giving at least fifteen days advance written notice thereof to the Lenders, the Issuing Banks and the Borrower. Upon any
such resignation, the Required Lenders shall have the right to appoint a successor, which successor shall be approved by the Borrower (such approval (x) not to be unreasonably withheld or delayed and (y) not to be required following the
occurrence and during the continuance of an Event of Default; provided that during the continuance of an Event of Default, such appointment shall be made in consultation with the Borrower). If no successor shall have been so appointed by the
Required Lenders and shall have accepted such appointment within 30 days after the retiring Administrative Agent gives notice of its resignation, then the retiring Administrative Agent may, on behalf of the Lenders and the Issuing Banks, appoint a
successor Administrative Agent which shall be a bank with an office in New York, New York, or an Affiliate of any such bank. Upon the acceptance of its appointment as Administrative Agent hereunder by a successor, such successor shall succeed to and
become vested with all the rights, powers, privileges and duties of the retiring Administrative Agent, and the retiring Administrative Agent shall be discharged from its duties and obligations hereunder. 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 Administrative Agent’s resignation hereunder, the provisions of this Article and
Section 8.03 shall continue in effect for the benefit of such retiring Administrative Agent, its sub agents and their respective Related Parties in respect of any actions taken or omitted to be taken by any of them while it was acting as
Administrative Agent. 
 Each Lender acknowledges that it has, independently and without reliance upon any Agent or any other
Lender and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement. Each Lender also acknowledges that it will, independently and without reliance upon any Agent or
any other Lender 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, any related
agreement or any document furnished hereunder or thereunder. 

  
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 Nothing in the Loan Documents shall impose on any Agent other than the Administrative
Agent, in its capacity as an Agent, or on any Arranger, other than in its capacity, as applicable, as a Lender, any obligation or liability whatsoever. 
 ARTICLE 8 
 MISCELLANEOUS 

Section 8.01. Notices. (a) All notices, requests and other communications to any party hereunder shall be in writing
(including bank wire, facsimile transmission or similar writing) and shall be given to such party: (i) in the case of the Borrower at its address or facsimile number set forth below; provided that notices to the Borrower given pursuant
to Sections 6.01, 8.04 or 8.08 shall be delivered by mail or express delivery to the address set forth below (and not by facsimile or other electronic means), (ii) in the case of the Administrative Agent, at its address or facsimile number set
forth below, (iii) in the case of any Lender or Issuing Bank, at its address or facsimile number set forth in its Administrative Questionnaire or (iv) in the case of any party, such other address or facsimile number as such party may
hereafter specify for the purpose by notice to the Administrative Agent and the Borrower. Each such notice, request or other communication shall be effective (x) if given by facsimile, when such facsimile is transmitted to the facsimile number
specified in this Section 8.01 and the appropriate answerback is received, (ii) if given by mail, three Business Days after such communication is deposited in the mails with first class postage prepaid, addressed as aforesaid or
(iii) if given by any other means, when delivered at the address specified in this Section 8.01; provided that notices to the Administrative Agent or an Issuing Bank under Article 2 shall not be effective until received. 

Borrower’s Address: 
 Applied Materials, Inc. 
 3050 Bowers Avenue, M/S 1234 

P.O. Box 58039 

Santa Clara, CA 95052-8039 
 Attention:    Robert M. Friess, 

                    Vice President and
Treasurer 
 Fax:     (408) 986-7825 

Email: Robert_Friess@amat.com 
 and 
 Applied Materials, Inc. 

3050 Bowers Avenue, M/S 1241 
 P.O. Box 58039 
 Santa Clara, CA 95052-8039 

  
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 Attention:    Joseph J. Sweeney, 

                    Senior Vice
President, 

                    General Counsel
and Corporate Secretary 
 Fax:     (408) 563-4635 

Email: Joseph_Sweeney@amat.com 
 Administrative Agent’s Address: 
 JPMorgan Chase Bank, N.A. 

Attention: Talitha L. Humes 
 1111 Fannin, 10th Floor 
 Houston, TX 77002-6925 

Fax: (713) 750-2878 
 Email: talitha.l.humes@jpmchase.com 
 Copy to: 

JPMorgan Chase Bank, N.A. 
 Attention: Kinjal Icecreamwala 
 383 Madison Avenue 

New York, NY 10017 
 Fax: (212) 270-5127 
 Email: kinjal.h.icecreamwala@jpmchase.com 

(b) Notices and other communications to the Lenders hereunder may be delivered or furnished by electronic communications pursuant to
procedures approved by the Administrative Agent; provided that the foregoing shall not apply to notices pursuant to Article 2 unless otherwise agreed by the Administrative Agent and the applicable Lender. 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. 
 Section 8.02. Waivers; Amendments. (a) No failure or delay by the Administrative
Agent, any Issuing Bank or any Lender in exercising any right or power under any Loan Document shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to
enforce such a right or power, preclude any other or further exercise thereof or the exercise of any other right or power. The rights and remedies of the Administrative Agent, the Issuing Banks and the Lenders under the Loan Documents are cumulative
and are not exclusive of any rights or remedies that they would otherwise have. No waiver of any provision of any Loan Document or consent to any departure by the Borrower therefrom shall in any event be effective unless the same shall be permitted
by paragraph (b) of this Section, and then such waiver or consent shall be effective only in the specific instance and for the purpose for which given. Without limiting the generality of the foregoing, the making of a Loan or the issuance of a
Letter of Credit shall not 

  
 69 

 
be construed as a waiver of any Default, regardless of whether the Administrative Agent, any Lender or any Issuing Bank may have had notice or knowledge of such Default at the time. 

(b) No Loan Document (other than the Fee Letter) nor any provision thereof may be waived, amended or modified except pursuant to an
agreement or agreements in writing entered into by the Borrower and the Required Lenders or by the Borrower and the Administrative Agent with the consent of the Required Lenders; provided that, subject to Section 2.18(b), no such
agreement shall (i) increase the Commitment of any Lender without the written consent of such Lender, (ii) reduce the principal amount of any Loan or LC Disbursement, or rate of interest thereon, or reduce any fees payable hereunder,
without the written consent of each Lender affected thereby, (iii) postpone the scheduled date of payment of the principal amount of any Loan, or any interest thereon, or any fees payable hereunder, or reduce the amount of, waive or excuse any
such payment, or postpone the scheduled date of expiration of any Commitment, without the written consent of each Lender affected thereby, (iv) change Section 2.16 in a manner that would alter the pro rata sharing of payments required
thereby, without the written consent of each Lender, or (v) change any of the provisions of this Section or the definition of “Required Lenders” or any other provision hereof specifying the number or percentage of Lenders required to
waive, amend or modify any rights hereunder or make any determination or grant any consent hereunder, including Section 2.18(b), without the written consent of each Lender; provided further that no such agreement shall amend, modify or
otherwise affect the rights or duties of the Administrative Agent or any Issuing Bank hereunder without the prior written consent of the Administrative Agent or such Issuing Bank, as the case may be; and provided further that the
Administrative Agent may, with the written consent of the Borrower but without the consent of any other Lender, amend, modify or supplement the Loan Documents to cure any ambiguity, omission, defect or inconsistency, so long as such amendment,
modification or supplement does not adversely affect the rights of any Lender. 
 Section 8.03. Expenses; Indemnity;
Damage Waiver. (a) The Borrower shall pay (i) all reasonable out-of-pocket expenses incurred by the Administrative Agent and its Affiliates, including the reasonable fees, charges and disbursements of counsel for the Administrative
Agent, in connection with the syndication of the credit facilities provided for herein, the preparation and administration of the Loan Documents or any amendments, modifications or waivers of the provisions hereof (whether or not the transactions
contemplated hereby or thereby shall be consummated), (ii) all reasonable out-of-pocket expenses incurred by any Issuing Bank in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment
thereunder and (iii) all out-of-pocket expenses incurred by the Administrative Agent, any Issuing Bank or any Lender, including the fees, charges and disbursements of any counsel for the Administrative Agent, any Issuing Bank or any Lender, in
connection with the enforcement or protection of its rights in connection with the Loan Documents, including its rights under this Section, or in connection with the Loans made or 

  
 70 

 
Letters of Credit issued hereunder, including all such out-of-pocket expenses incurred during any workout, restructuring or negotiations in respect of such Loans or Letters of Credit;
provided that the Borrower shall not be required to reimburse the legal fees and expenses of more than one outside counsel (in addition to any special counsel and up to one local counsel in each applicable local jurisdiction) for all Persons
indemnified under this clause (a) unless, (w) in the written opinion of outside counsel reasonably satisfactory to the Borrower and the Administrative Agent, representation of all such indemnified persons would be inappropriate due to the
existence of an actual or potential conflict of interest; (x) the Administrative Agent, any such Issuing Bank or any such Lender shall have reasonably concluded that there may be legal defenses available to it that are different from or
additional to those available to the other indemnified persons; (y) the Administrative Agent, any such Issuing Bank or any such Lender shall have reasonably concluded that it otherwise has interests divergent from those of the indemnified
persons; or (z) the Borrower shall authorize in writing the Administrative Agent, any such Issuing Bank or any such Lender to employ separate counsel at the Borrower’s expense. 

(b) The Borrower shall indemnify the Administrative Agent, each Issuing Bank 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, incurred by or asserted against any Indemnitee arising out of, in connection with, or as a result, of (i) the execution or delivery of the Loan Documents or any agreement or instrument
contemplated thereby, the performance by the parties hereto of their respective obligations thereunder or the consummation of the transactions contemplated thereby, (ii) any Loan or Letter of Credit or the use of the proceeds therefrom
(including any refusal by any Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) the actual or
alleged presence of Hazard Substances on any property of the Borrower or any of its Subsidiaries or any Environmental Action relating 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 and regardless of whether any Indemnitee is a party thereto; provided that such indemnity shall not, as to any Indemnitee, be
available to the extent (A) that such losses, claims, damages, liabilities or related expenses (x) are determined by a court of competent jurisdiction by final and nonappealable judgment to have resulted from the gross negligence or
willful misconduct of such Indemnitee or (y) result from a claim brought by the Borrower or any Subsidiary against any Indemnitee for material breach of such Indemnitee’s express obligations hereunder (including, for the avoidance of
doubt, any failure by such Indemnitee to comply with its obligation to fund any portion of its Loans as required hereby) or under any other Loan Document, if the Borrower or such Subsidiary has obtained a final and non-appealable judgment in its
favor on such claim as 

  
 71 

 
determined by a court of competent jurisdiction, or (B) any settlement with respect to such losses, claims, damages, liabilities or related expenses is entered into by such Indemnitee
without Borrower’s written consent (such consent not to be unreasonably withheld or delayed). 
 (c) To the extent that the
Borrower fails to pay any amount required to be paid by it to the Administrative Agent or the Issuing Bank under paragraph (a) or (b) of this Section, each Lender severally agrees to pay to the Administrative Agent or the Issuing Bank, as
the case may be, such Lender’s Applicable Percentage (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought) of such unpaid amount; provided that the unreimbursed expense or indemnified loss,
claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent or the Issuing Bank in its capacity as such; and provided further that any such payment by any Lender shall not
affect the Borrower’s obligations pursuant to paragraph (a) or (b) of this Section. 
 (d) To the extent
permitted by applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising
out of, in connection with, or as a result of, any Loan Document or any agreement or instrument contemplated thereby, any Loan or Letter of Credit or the use of the proceeds thereof. 

(e) All amounts due under this Section shall be payable promptly after written demand therefor. 

Section 8.04. Successors and Assigns. (a) The provisions of this Agreement shall be binding upon and inure to the
benefit of the parties hereto and their respective successors and assigns permitted hereby (including any Affiliate of any Issuing Bank that issues any Letter of Credit), except that (i) the Borrower may not assign or otherwise transfer any of
its rights or obligations hereunder without the prior written consent of each Lender (and any attempted assignment or transfer by the Borrower without such consent shall be null and void) and (ii) no Lender may assign or otherwise transfer its
rights or obligations hereunder except in accordance with this Section. Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted
hereby (including any Affiliate of any Issuing Bank that issues any Letter of Credit), Participants (to the extent provided in paragraph (c) of this Section) and, to the extent expressly contemplated hereby, the Related Parties of each of the
Administrative Agent, the Issuing Banks and the Lenders) any legal or equitable right, remedy or claim under or by reason of this Agreement. 
 (b) (i) Subject to the conditions set forth in paragraph (b)(ii) below, any Lender may assign to one or more assignees all or a portion of its rights and obligations under this Agreement (including all or
a portion of its Commitment 

  
 72 

 
and the Loans at the time owing to it) with the prior written consent (such consent not to be unreasonably withheld or delayed) of: 

(A) the Borrower; provided that (x) no consent of the Borrower shall be required under this subclause
(A) for an assignment to a Lender, an Affiliate of a Lender, an Approved Fund or, if an Event of Default has occurred and is continuing, any other assignee and (y) the Borrower shall be deemed to have consented to any such assignment
unless it shall object thereto by written notice to the Administrative Agent within five Business Days after its actual receipt of written notice thereof; 
 (B) each Issuing Bank; and 
 (C) the Administrative Agent.

 (ii) Assignments shall be subject to the following additional conditions: 

(A) each assignment shall be to an Eligible Assignee; 

(B) except in the case of an assignment to a Lender or an Affiliate of a Lender or an assignment of the entire remaining
amount of the assigning Lender’s Commitment or Loans, the amount of the Commitment or Loans of the assigning Lender subject to each such assignment (determined as of the date the Assignment and Assumption with respect to such assignment is
delivered to the Administrative Agent) shall not be less than $10,000,000 (or an integral multiple of $1,000,000 in excess thereof) unless each of the Borrower and the Administrative Agent otherwise consent; provided that the Borrower shall
be deemed to have consented to any such assignment unless it shall object thereto by written notice to the Administrative Agent within five Business Days after its actual receipt of written notice thereof and provided, further, that no
such consent of the Borrower shall be required if an Event of Default has occurred and is continuing; 
 (C) 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; 
 (D) the parties to each assignment (except for the assigning Lender, if such Lender is being replaced pursuant to Section 2.17(b)) shall execute and deliver to the Administrative Agent an Assignment
and Assumption, together with (except in the case of an assignment by a Lender to an Affiliate of such Lender) a processing and recordation fee of $3,500; 

  
 73 

 (E) the assignee, if it shall not be a Lender, shall deliver to the
Administrative Agent an Administrative Questionnaire in which the assignee designates one or more credit contacts to whom all syndicate-level information (which may contain material non-public information about the Borrower and its Subsidiaries)
will be made available and who may receive such information in accordance with the assignee’s compliance procedures and applicable laws, including Federal and state securities laws; and 

(F) without the written consent of the Borrower, in no event shall any assignment to any Person (other than an Arranger or
Affiliate of an Arranger) result in the assignee (together with its Affiliates) holding more than 25% of the aggregate amount of the Commitments. 
 For the purposes of this Section 8.04(b), the term “Approved Fund” has the following meaning: 
 “Approved Fund” means any Person (other than a natural person) that is engaged in making, purchasing, holding or investing in bank loans and similar extensions of credit in the ordinary
course of its business and 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. 

(iii) Subject to acceptance and recording thereof pursuant to paragraph (b)(iv) of this Section, from and after the
effective date specified in each Assignment and Assumption the assignee thereunder shall be a party hereto and, to the extent of the interest assigned by such Assignment and Assumption, have the rights and obligations of a Lender under this
Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its obligations under this Agreement (and, in the case of an Assignment and Assumption covering all of
the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto but shall continue to be entitled to the benefits of Sections 2.13, 2.14, 2.15 and 8.03; 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). Any assignment or
transfer by a Lender of rights or obligations under this Agreement that does not comply with this Section 8.04 shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in
accordance with paragraph (c) of this Section. 

  
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 (iv) The Administrative Agent, acting for this purpose as an agent of the
Borrower, shall maintain at one of its offices a copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and addresses of the Lenders, and the Commitment of, and the principal amount 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, the Issuing Banks and the Lenders shall treat each Person
whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. The Register shall be available for inspection by the Borrower, any Issuing Bank
and any Lender, at any reasonable time and from time to time upon reasonable prior notice. 
 (v) Upon its
receipt of a duly completed Assignment and Assumption executed by an assigning Lender (unless such Lender is being replaced pursuant to Section 2.17(b)) and an assignee, the assignee’s completed Administrative Questionnaire (unless the
assignee shall already be a Lender hereunder), the processing and recordation fee referred to in paragraph (b) of this Section and any written consent to such assignment required by paragraph (b) of this Section, the Administrative Agent
shall accept such Assignment and Assumption and record the information contained therein in the Register; provided that if either the assigning Lender or the assignee shall have failed to make any payment required to be made by it pursuant to
Section 2.05(b), 2.16(d) or 8.03(c), the Administrative Agent shall have no obligation to accept such Assignment and Assumption and record the information therein in the Register unless and until such payment shall have been made in full,
together with all accrued interest thereon. No assignment shall be effective for purposes of this Agreement unless it has been recorded in the Register as provided in this paragraph. 

(c) (i) Any Lender may, without the consent of the Borrower, the Administrative Agent or the Issuing Banks, sell participations to one or
more banks or other entities (a “Participant”) in all or a portion of such Lender’s rights and obligations under this Agreement (including all or a portion of its Commitment and the Loans owing to it); provided that
(A) such Lender’s obligations under this Agreement shall remain unchanged, (B) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations and (C) the Borrower, the
Administrative Agent, the Issuing Banks and the other Lenders shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under this Agreement. Any agreement or instrument pursuant to
which a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; provided that such
agreement or instrument may provide that such Lender will not, without the consent of the Participant, agree to 

  
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any amendment, modification or waiver described in clauses (i) through (iv) in the first proviso to Section 8.02(b) that affects such Participant. Subject to paragraph (c)(ii) of
this Section, the Borrower agrees that each Participant shall be entitled to the benefits of Sections 2.13, 2.14 and 2.15 to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to paragraph (b) of this
Section. To the extent permitted by law, each Participant also shall be entitled to the benefits of Section 8.08 as though it were a Lender, provided such Participant agrees to be subject to Section 2.16(c) as though it were a Lender.

 (ii) A Participant shall not be entitled to receive any greater payment under Section 2.13 or 2.15 than
the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant. A Participant that would be a Foreign Lender if it were a Lender shall not be entitled to the benefits of Section 2.15 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 2.15(e) as though it were a Lender. A Participant shall be subject to the mitigation
obligations and the right of replacement by the Borrower under Section 2.17 to the same extent as if it were a Lender. 
 (iii) 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 to any Person (including the identity of any Participant or any information relating to a Participant’s interest in any commitments, loans, letters of credit or its other obligations under any Loan
Document) except to the extent that such disclosure is necessary to establish that such commitment, loan, letter of credit or other obligation is in registered form under Section 5f.103-1(c) of the United States Treasury Regulations. The
entries in the Participant Register shall be conclusive, 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. 
 (d) Any Lender may at any time pledge or assign a security interest in all or any portion of its rights under
this Agreement to secure obligations of such Lender, including without limitation any pledge or assignment to secure obligations to a Federal Reserve Bank or any central bank having jurisdiction over such Lender, and this Section shall not apply to
any such pledge or assignment of a security interest; provided that no such pledge or assignment of a security interest shall release a Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as
a party hereto. 

  
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 Section 8.05. Survival. All covenants, agreements, representations and
warranties made by the Borrower herein and in the certificates or other instruments delivered in connection with or pursuant to the Loan Documents shall be considered to have been relied upon by the other parties hereto and shall survive the
execution and delivery of the Loan Documents and the making of any Loans regardless of any investigation made by any such other party or on its behalf and notwithstanding that the Administrative Agent, any Issuing Bank or any Lender may have had
notice or knowledge of any Default or incorrect representation or warranty at the time any credit is extended hereunder, and shall continue in full force and effect as long as the principal of or any accrued interest on any Loan or any fee or any
other amount payable under this Agreement is outstanding and unpaid or any Letter of Credit is outstanding and so long as the Commitments have not expired or terminated. The provisions of Sections 2.13, 2.15 and Article 8 shall survive and remain in
full force and effect regardless of the consummation of the transactions contemplated hereby, the repayment of the Loans, the expiration or termination of the Commitments or the termination of this Agreement or any provision hereof. 

Section 8.06. Counterparts; Integration; Effectiveness. This Agreement may be executed in counterparts (and by different
parties hereto on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This Agreement and the other Loan Documents constitute the entire contract among the
parties relating to the subject matter hereof and supersede any and all previous agreements and understandings, oral or written, relating to the subject matter hereof. Except as provided in Section 4.01, this Agreement shall become effective
when it shall have been executed by the Administrative Agent and when the Administrative Agent shall have received counterparts hereof which, when taken together, bear the signatures of each of the other parties hereto, and thereafter shall be
binding upon and inure to the benefit of the parties hereto and their respective successors and assigns. Delivery of an executed counterpart of a signature page of this Agreement by telecopy or electronic mail shall be effective as delivery of a
manually executed counterpart of this Agreement. 
 Section 8.07. Severability. Any provision of any Loan Document
held to be invalid, illegal or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the validity, legality and enforceability of the
remaining provisions hereof; and the invalidity of a particular provision in a particular jurisdiction shall not invalidate such provision in any other jurisdiction. 
 Section 8.08. Right of Set-off. If an Event of Default shall have occurred and be continuing, each Lender and each of its Affiliates is hereby authorized at any time and from time to time, to
the fullest extent permitted by law, to set off and apply any and all deposits (general or special, time or demand, provisional or final) at any time held and other obligations at any time owing by such Lender or Affiliate to or for the credit or
the account of the Borrower against any of and all 

  
 77 

 
the obligations of the Borrower now or hereafter existing under this Agreement held by such Lender, irrespective of whether or not such Lender shall have made any demand under this Agreement and
although such obligations may be unmatured; provided that in the event that any Defaulting Lender shall exercise any such right of set-off, all amounts so set off shall be paid over immediately to the Administrative Agent for further
application in accordance with the provisions of Section 2.18(e) 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, the Issuing
Banks, and the Lenders. The rights of each Lender under this Section are in addition to other rights and remedies (including other rights of set-off) which such Lender may have. Each Lender agrees promptly to notify the Borrower and the
Administrative Agent after any such set-off and application made by such Lender; provided, however, that the failure to give such notice shall not affect the validity of such set-off and application. 

Section 8.09. Governing Law; Jurisdiction; Consent to Service of Process. (a) This Agreement shall be construed in
accordance with and governed by the law of the State of New York. 
 (b) Each party hereto irrevocably and unconditionally
submits, for itself and its Property, to the exclusive jurisdiction of the Supreme Court 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 any Loan Document, or for recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably and unconditionally agrees that all claims in respect of
any such action or proceeding may be heard and determined in such New York State or, to the extent permitted by 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 shall affect any right that the Administrative Agent, any Issuing Bank or any Lender may otherwise have to bring any
action or proceeding relating to any Loan Document against the Borrower or its properties in the courts of any jurisdiction. 

(c) Each party hereto irrevocably and unconditionally waives, to the fullest extent it may legally and effectively do so, any objection
which it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to any Loan Document in any court referred to in paragraph (b) of this Section. Each of the parties hereto hereby irrevocably
waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court. 
 (d) Each party to this Agreement irrevocably consents to service of process in the manner provided for notices in Section 8.01. Nothing in any Loan Document will affect the right of any party to this
Agreement to serve process in any other manner permitted by law. 

  
 78 

 Section 8.10. Waiver of Jury Trial. EACH PARTY HERETO HEREBY WAIVES, TO THE
FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY (WHETHER BASED ON CONTRACT, TORT
OR ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE
FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION. 

Section 8.11. Headings. Article and Section headings and the Table of Contents used herein are for convenience of reference
only, are not part of this Agreement and shall not affect the construction of, or be taken into consideration in interpreting, this Agreement. 
 Section 8.12. Confidentiality. Each of the Administrative Agent, the Issuing Banks and the Lenders agrees to maintain the confidentiality of the Information (as defined below), except that
Information may be disclosed (a) to its and its Affiliates’ directors, officers, employees and agents, including accountants, legal counsel and other advisors (it being understood that the Persons to whom such disclosure is made will be
informed of the confidential nature of such Information and instructed to keep such Information confidential), (b) to the extent requested by any regulatory authority; provided that, except with respect to any audit or examination
conducted by bank accountants or by any governmental bank regulatory authority exercising examination or regulatory authority, the Administrative Agent, such Issuing Bank or such Lender, as applicable, shall use reasonable efforts to promptly notify
the Borrower of such disclosure (unless such disclosure is not legally permissible), (c) (i) to the extent required by applicable laws or regulations or by any subpoena or similar legal process or (ii) in connection with any pledge or
assignment permitted under Section 8.04(d), it being understood that, in the case of this subclause (ii), 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), (d) to any other party to this Agreement, (e) in connection with the exercise of any remedies hereunder or any suit, action or proceeding relating to this Agreement or the enforcement of rights hereunder,
(f) subject to an agreement containing provisions substantially the same as those of this Section, to (i) any assignee of or Participant in, or any prospective assignee of or Participant in, any of its rights or obligations under this
Agreement or (ii) any actual or prospective counterparty (or its advisors) to any swap or derivative transaction, or any actual or prospective credit insurance provider, relating to the Borrower and its obligations, (g) with the consent of
the Borrower or (h) to the extent such Information (i) becomes publicly available 

  
 79 

 
other than as a result of a breach of this Section or (ii) becomes available to the Administrative Agent, any Issuing Bank or any Lender on a nonconfidential basis from a source other than
the Borrower. For the purposes of this Section, “Information” means all information received from the Borrower relating to the Borrower and its Subsidiaries or their respective businesses, other than any such information that is
available to the Administrative Agent, any Issuing Bank or any Lender on a nonconfidential basis prior to disclosure by the Borrower; provided that, in the case of information received from the Borrower 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. 
 Section 8.13. USA Patriot Act. Each Lender that is subject to the requirements of the USA PATRIOT Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)) (the
“PATRIOT Act”) hereby notifies the Borrower that pursuant to the requirements of 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 to identify the Borrower in accordance with the PATRIOT Act. The Borrower and each of its Subsidiaries shall provide such information and take such actions as are reasonably requested
by the Administrative Agent or any Lender in order to assist the Administrative Agent and the Lenders in maintaining compliance with applicable “know your customer” and anti-money laundering rules and regulations, including, without
limitation, the USA Patriot Act. 
 Section 8.14. No Fiduciary Duty. The Borrower agrees that in connection with all
aspects of the Loans and Letters of Credit contemplated by this Agreement and any communications in connection therewith, the Borrower and its Subsidiaries, on the one hand, and the Administrative Agent, the Lenders and their Affiliates, on the
other hand, will have a business relationship that does not create, by implication or otherwise, any fiduciary duty on the part of the Administrative Agent, the Lenders or their Affiliates, and no such duty will be deemed to have arisen in
connection with any such transactions or communications. 

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

			
	APPLIED MATERIALS, INC.
		
	By:	 	   /s/ Robert M. Friess

		 	Name: Robert M. Friess
		 	Title:   Vice President and Treasurer

 [Signature Page to Revolving Credit Agreement] 

 
			
	 JPMORGAN CHASE BANK, N.A.,
as Administrative Agent and Lender

		
	By:	 	   /s/ John G. Kowalczuk

		 	Name: John G. Kowalczuk
		 	Title:   Executive Director

  
 [Signature
Page to Revolving Credit Agreement] 

 
			
	 MORGAN STANLEY BANK, N.A.,
as Lender

		
	By:	 	   /s/ Subhalakshmi Ghosh-Kohli

		 	Name: Subhalakshmi Ghosh-Kohli
		 	Title:   Authorized Signatory

  
 [Signature
Page to Revolving Credit Agreement] 

 
			
	CITIBANK, N.A., as Lender
		
	By:	 	   /s/ Susan M. Olsen

		 	Name: Susan M. Olsen
		 	Title:   Vice President

  
 [Signature
Page to Revolving Credit Agreement] 

 
			
	 THE BANK OF TOKYO-MITSUBISHI
UFJ, LTD., as Lender

		
	By:	 	   /s/ Victor Pierzchalski

		 	Name: Victor Pierzchalski
		 	Title:   Authorized Signatory

  
 [Signature
Page to Revolving Credit Agreement] 

 
			
	BNP PARIBAS, as Lender
		
	By:	 	   /s/ Renaud-Franck Falce

		 	Name: Renaud-Franck Falce
		 	Title:   Managing Director
		
	By:	 	   /s/ Nicolas Rabier

		 	Name: Nicolas Rabier
		 	Title:   Director

  
 [Signature
Page to Revolving Credit Agreement] 

 
			
	 GOLDMAN SACHS BANK USA,
as Lender

		
	By:	 	   /s/ Mark Walton

		 	Name: Mark Walton
		 	Title:   Authorized Signatory

  
 [Signature
Page to Revolving Credit Agreement] 

 
			
	 KEYBANK NATIONAL
ASSOCIATION, as Lender

		
	By:	 	   /s/ Raed Y. Alfayoumi

		 	Name: Raed Y. Alfayoumi
		 	Title:   Vice President

  
 [Signature
Page to Revolving Credit Agreement] 

 
			
	 THE BANK OF NEW YORK MELLON,
as Lender

		
	By:	 	   /s/ Robert Besser

		 	Name: Robert Besser
		 	Title:   Managing Director

  
 [Signature
Page to Revolving Credit Agreement] 

 
			
	 DBS BANK LTD., LOS ANGELES
AGENCY, as Lender

		
	By:	 	   /s/ James McWalters

		 	Name: James McWalters
		 	Title:   General Manager

  
 [Signature
Page to Revolving Credit Agreement] 

 
			
	 MIZUHO CORPORATE BANK (USA),
as Lender

		
	By:	 	   /s/ Bertram H. Tang

		 	Name: Bertram H. Tang
		 	Title:   Senior Vice President

  
 [Signature
Page to Revolving Credit Agreement] 

 
			
	 U.S. BANK NATIONAL
ASSOCIATION, as Lender

		
	By:	 	   /s/ Richard J. Ameny Jr.

		 	Name: Richard J. Ameny Jr.
		 	Title:   Vice President

  
 [Signature
Page to Revolving Credit Agreement] 

 
			
	 WELLS FARGO BANK, N.A.,
as Lender

		
	By:	 	   /s/ Sid Khanolkar

		 	Name: Sid Khanolkar
		 	Title:   Vice President

  
 [Signature
Page to Revolving Credit Agreement] 

 Schedule 2.01 – Commitments 

 

					
	 Lender
	  	Commitment	 
	 JPMorgan Chase Bank, N.A.
	  	$	190,000,000.00	  
	 Morgan Stanley Bank, N.A.
	  	$	190,000,000.00	  
	 Citibank, N.A.
	  	$	190,000,000.00	  
	 The Bank of Tokyo-Mitsubishi UFJ, Ltd.
	  	$	190,000,000.00	  
	 BNP Paribas
	  	$	130,000,000.00	  
	 Goldman Sachs Bank USA
	  	$	130,000,000.00	  
	 KeyBank National Association
	  	$	80,000,000.00	  
	 The Bank of New York Mellon
	  	$	80,000,000.00	  
	 DBS Bank Ltd., Los Angeles Agency
	  	$	80,000,000.00	  
	 Mizuho Corporate Bank (USA)
	  	$	80,000,000.00	  
	 U.S. Bank National Association
	  	$	80,000,000.00	  
	 Wells Fargo Bank, N.A.
	  	$	80,000,000.00	  
		  	 	 	 
	 Total
	  	$	1,500,000,000.00	  
		  	 	 	 

 Schedule 2.04 – Issuing Banks 

 

					
	 Issuing Bank
	  	LC Commitment	 
	 JPMorgan Chase Bank, N.A.
	  	$	100,000,000.00	  
	 Citibank, N.A.
	  	$	100,000,000.00	  
	 BNP Paribas
	  	$	100,000,000.00	  

 Schedule 5.02(a) – Existing Liens 

None. 

 EXHIBIT A 
 ASSIGNMENT AND ASSUMPTION 
 This Assignment and Assumption (the
“Assignment and Assumption”) is dated as of the Effective Date set forth below and is entered into by and between [Insert name of Assignor] (the “Assignor”) and [Insert name of Assignee] (the
“Assignee”). Capitalized terms used but not defined herein shall have the meanings given to them in the Credit Agreement identified below (as amended, the “Credit Agreement”), receipt of a copy of which is hereby
acknowledged by the Assignee. The Standard Terms and Conditions set forth in Annex 1 attached hereto are hereby agreed to and incorporated herein by reference and made a part of this Assignment and Assumption as if set forth herein in full.

 For an agreed consideration, the Assignor hereby irrevocably sells and assigns to the Assignee, and the Assignee hereby
irrevocably purchases and assumes from the Assignor, subject to and in accordance with the Standard Terms and Conditions and the Credit Agreement, as of the Effective Date inserted by the Administrative Agent as contemplated below (i) all of
the Assignor’s rights and obligations in its capacity as a Lender under the Credit Agreement and any other documents or instruments delivered pursuant thereto to the extent related to the amount and percentage interest identified below of all
of such outstanding rights and obligations of the Assignor under the respective facilities identified below (including guarantees included in such facilities) and (ii) to the extent permitted to be assigned under applicable law, all claims,
suits, causes of action and any other right of the Assignor (in its capacity as a Lender) against any Person, whether known or unknown, arising under or in connection with the Credit Agreement, any other documents or instruments delivered pursuant
thereto or the loan transactions governed thereby or in any way based on or related to any of the foregoing, including contract claims, tort claims, malpractice claims, statutory claims and all other claims at law or in equity related to the rights
and obligations sold and assigned pursuant to clause (i) above (the rights and obligations sold and assigned pursuant to clauses (i) and (ii) above being referred to herein collectively as the “Assigned Interest”).
Such sale and assignment is without recourse to the Assignor and, except as expressly provided in this Assignment and Assumption, without representation or warranty by the Assignor. 

1. Assignor:
                                        

 2. Assignee:
                                        

 [and is an Affiliate/Approved Fund of [identify Lender]1] 

3. Borrower: Applied Materials, Inc. 
 4. Administrative Agent: JPMorgan Chase Bank, N.A., as the administrative agent under the Credit Agreement 

 

	1 	 Select as applicable. 

 5. Credit Agreement: The Credit Agreement dated as of May [_], 2011 among Applied Materials,
Inc., the Lenders parties thereto, and JPMorgan Chase Bank, N.A., as Administrative Agent. 
 6. Assigned Interest: 

 

													
	Facility Assigned	  	Aggregate Amount of
Commitment/Loans for
all Lenders	 	  	Amount of
Commitment/Loans
Assigned	 	  	Percentage Assigned of
Commitment/Loans2	 
		  	$	 	  	  	$	 	  	  	 	%	  
		  	$	 	  	  	$	 	  	  	 	%	  
		  	$	 	  	  	$	 	  	  	 	%	  

 Effective Date:
                     , 20     [TO BE INSERTED BY ADMINISTRATIVE AGENT AND WHICH SHALL BE THE EFFECTIVE DATE
OF RECORDATION OF TRANSFER IN THE REGISTER THEREFOR.] 
 The Assignee agrees to deliver to the Administrative Agent a completed
Administrative Questionnaire in which the Assignee designates one or more credit contacts to whom all syndicate-level information (which may contain material non-public information about the Borrower and its Related Parties or their respective
securities) will be made available and who may receive such information in accordance with the Assignee’s compliance procedures and applicable laws, including Federal and state securities laws. 

The terms set forth in this Assignment and Assumption are hereby agreed to: 

 

			
	ASSIGNOR
	
	[NAME OF ASSIGNOR]
		
	By:	 	  

		 	Title:

  

	2 	 Set forth, to at least 9 decimals, as a percentage of the Commitment/Loans of all Lenders thereunder. 

 
			
	ASSIGNEE
	
	 [NAME OF ASSIGNEE]

		
	 By:
	 	  

		 	Title:

 Consented to and Accepted: 

 

					
		 	 JPMORGAN CHASE BANK, N.A.,
 as Administrative Agent

			
		 	By:	 	  

		 		 	Title:
		
		 	[ISSUING BANK]
			
		 	By:	 	  

		 		 	Title:
		
		 	[Consented to:]3
		
		 	[APPLIED MATERIALS, INC.]
			
		 	By:	 	  

		 		 	Title:

  

	3 	 To be added only if the consent of the Borrower is required by the terms of the Credit Agreement. 

 ANNEX 1 
 STANDARD TERMS AND CONDITIONS FOR 
 ASSIGNMENT AND ASSUMPTION 

1. Representations and Warranties. 
 1.1. Assignor. The Assignor (a) represents and warrants that (i) it is the legal and beneficial owner of the Assigned Interest, (ii) the Assigned Interest is free and clear of any
lien, encumbrance or other adverse claim and (iii) it has full power and authority, and has taken all action necessary, to execute and deliver this Assignment and Assumption and to consummate the transactions contemplated hereby; and
(b) assumes no responsibility with respect to (i) any statements, warranties or representations made in or in connection with the Credit Agreement or any other Loan Document, (ii) the execution, legality, validity, enforceability,
genuineness, sufficiency or value of the Loan Documents or any collateral thereunder, (iii) the financial condition of the Borrower, any of its Subsidiaries or Affiliates or any other Person obligated in respect of any Loan Document or
(iv) the performance or observance by the Borrower, any of its Subsidiaries or Affiliates or any other Person of any of their respective obligations under any Loan Document. 

1.2. Assignee. The Assignee (a) represents and warrants that (i) it has full power and authority, and has taken all
action necessary, to execute and deliver this Assignment and Assumption and to consummate the transactions contemplated hereby and to become a Lender under the Credit Agreement, (ii) it is an Eligible Assignee and satisfies the other
requirements, if any, specified in the Credit Agreement that are required to be satisfied by it in order to acquire the Assigned Interest and become a Lender, (iii) from and after the Effective Date, it shall be bound by the provisions of the
Credit Agreement as a Lender thereunder and, to the extent of the Assigned Interest, shall have the obligations of a Lender thereunder, (iv) it has received a copy of the Credit Agreement, together with copies of the most recent financial
statements delivered pursuant to Section 5.01(g) thereof, as applicable, and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Assignment and Assumption and to
purchase the Assigned Interest on the basis of which it has made such analysis and decision independently and without reliance on the Administrative Agent or any other Lender and (v) if it is a Foreign Lender, attached to the Assignment and
Assumption is any documentation required to be delivered by it pursuant to the terms of the Credit Agreement, duly completed and executed by the Assignee; and (b) agrees that (i) it will, independently and without reliance on the
Administrative Agent, the Assignor or any other Lender, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Loan Documents and
(ii) it will perform in accordance with their terms 

 
all of the obligations which by the terms of the Loan Documents are required to be performed by it as a Lender. 
 2. Payments. From and after the Effective Date, the Administrative Agent shall make all payments in respect of the Assigned Interest (including payments of principal, interest, fees and other
amounts) to the Assignor for amounts which have accrued to but excluding the Effective Date and to the Assignee for amounts which have accrued from and after the Effective Date. 

3. General Provisions. This Assignment and Assumption shall be binding upon, and inure to the benefit of, the parties hereto and
their respective successors and assigns. This Assignment and Assumption may be executed in any number of counterparts, which together shall constitute one instrument. Delivery of an executed counterpart of a signature page of this Assignment and
Assumption by telecopy shall be effective as delivery of a manually executed counterpart of this Assignment and Assumption. This Assignment and Assumption shall be governed by, and construed in accordance with, the law of the State of New York.

  
 8 

 EXHIBIT B 
 [Form of Borrowing Request] 
 NOTICE OF BORROWING4 
 JPMorgan Chase Bank, N.A., 
 as Administrative Agent 

for the Lenders referred to below, 
 c/o JPMorgan Chase Bank, N.A. 
 [Attention:
[                    ] 
 1111 Fannin, 10th Floor 
 Houston, TX 77002-6925 

Fax: (713) 427-6307 
 Email: [                    ]] 

[Date] 
 Ladies
and Gentlemen: 
 We refer to the Credit Agreement dated as of May [    ], 2011 (the “Credit
Agreement”; capitalized terms that are used herein but not otherwise defined herein shall have the meaning ascribed to them in the Credit Agreement) among the undersigned, certain lenders party thereto and JPMorgan Chase Bank, N.A., as
Administrative Agent, and hereby give you notice pursuant to Section 2.03 of the Credit Agreement as follows: 
  

					
	Principal Amount5:	 		 	  

	Date of the Borrowing6:	 		 	  

	Type7:	 		 	  

 

	4 	 This letter shall be delivered no later than (x) in the case of an ABR Borrowing, 12:00 noon (New York City time) on the date of such Borrowing
(which shall be a Business Day), and (y) in the case of a Eurodollar Borrowing, 1:00 p.m. (New York City time) on the date three Business Days before the date of such Borrowing. 

	5 	 Such amounts shall be in an aggregate amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof. 

	6 	 On any Business Day. 

  
 9 

					
	Initial Interest Period8:	 		 	  

	Account Information9:	 		 	  

 

			
	Very truly yours,
	
	APPLIED MATERIALS, INC.
		
	By:	 	  

		 	Name:
		 	Title:

  

(continued...) 

	7 	 Either, “ABR Borrowing” or “Eurodollar Borrowing.” 

	8 	 Only for Eurodollar Borrowings. 

	9 	 The location and number of the account to which funds are to be disbursed. 

  
 10 

 EXHIBIT C 
 [Form of Interest Election Request] 
 NOTICE OF INTEREST
ELECTION10 

JPMorgan Chase Bank, N.A., 
 as
Administrative Agent 
 for the Lenders referred to below, 

c/o JPMorgan Chase Bank, N.A. 
 [[Attention: [                    ] 

1111 Fannin, 10th Floor 
 Houston, TX 77002-6925 
 Fax: (713) 427-6307 

Email: [                    ]]

 [Date] 
 Ladies and Gentlemen: 
 We refer to the Credit Agreement dated as of May
[    ], 2011 (the “Credit Agreement”; capitalized terms that are used herein but not otherwise defined herein shall have the meaning ascribed to them in the Credit Agreement) among the undersigned, certain
lenders party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent, and hereby give you notice pursuant to Section 2.06 of the Credit Agreement as follows: 

 

					
	Applicable Borrowing11:	 		 	  

	Effective Date12:	 		 	  

 

	10 	 This letter shall be delivered no later than (x) in the case of an ABR Borrowing, 12:00 noon (New York City time) on the date of such Borrowing
(which shall be a Business Day), and (y) in the case of a Eurodollar Borrowing, 1:00 p.m. (New York City time) on the date three Business Days before the date of such Borrowing. 

	11 	 The Borrowing to which this Interest Election Request applies and, if different options are being elected with respect to different portions of the
Borrowing, the portions thereof to be allocated to each resulting Borrowing (in which case the Type and applicable Interest Period shall be specified for each resulting Borrowing). 

  
 11 

					
	Type13:	 		 	  

	Applicable Interest Period14:	 		 	  

 

			
	Very truly yours,
	
	APPLIED MATERIALS, INC.
		
	By:	 	  

		 	Name:
		 	Title:

  

(continued...) 

	12 	 The effective date of the election made pursuant to this Interest Election Request, which shall be a Business Day. 

	13 	 Whether the resulting Borrowing is to be an ABR Borrowing or Eurodollar Borrowing. 

	14 	 Only for Eurodollar Borrowings. 

  
 12 

 EXHIBIT D 
 [Form of Section 2.15(e) Certificate] 
 CERTIFICATE 

Reference is made to the Credit Agreement dated as of May [    ], 2011 (as from time to time amended, the
“Credit Agreement”) among Applied Materials, Inc., certain lenders parties thereto and JPMorgan Chase Bank, N.A., as Administrative Agent (in such capacity, the “Administrative Agent”). Capitalized terms used herein
that are not defined herein shall have the meanings ascribed to them in the Credit Agreement. Pursuant to Section 2.15(e) of the Credit Agreement, [name of Foreign Lender] (the “Lender”) hereby certifies that: 

 

	 	1.	The Lender is the sole record and beneficial owner of the interest in the Loans, LC Disbursements, Commitments and LC Commitments (the “Interest”) in
respect of which it is providing this certificate. 

  

	 	2.	The Lender is not a “bank” for purposes of Section 881(c)(3)(A) of the Code, including that the Lender is not subject to regulatory or other legal
requirements as a bank in any jurisdiction and has not been treated as a bank for purposes of any tax, securities law or other filing or submission made to any Governmental Authority, any application made to a rating agency or qualification for any
exemption from tax, securities law or other legal requirements. 

  

	 	3.	The Lender meets all of the requirements under Section 871(h) or 881(c) of the Code and the U.S. Treasury regulations thereunder to be eligible for a complete
exemption from withholding of United States federal income tax on interest payments made to it under the Loan Documents, including without limitation, that (i) it is not a 10-percent shareholder (within the meaning of Section 871(h)(3)(B)
of the Code) of the Borrower, (ii) it is not a “controlled foreign corporation” with respect to which the Borrower is a related person within the meaning of Section 864(d)(4) of the Code, and (iii) amounts received by it
pursuant to the Loan Documents are not effectively connected with its conduct of a trade or business in the United States. 

  

	 	4.	The Lender shall promptly notify the Borrower and the Administrative Agent in writing if any of the certifications made herein are no longer true and correct.

  
 13 

 IN WITNESS WHEREOF, the undersigned has duly executed this certificate. 

 

			
	[NAME OF FOREIGN LENDER]
		
	By:	 	  

		 	Name:
		 	Title:

 Date:
                     

  
 14 

 EXHIBIT E 
 [Form of Opinion of Vice President, Legal Affairs of the Borrower] 
 [Effective
Date] 
 To each of the Lenders parties 
 to the Credit Agreement dated 
 as of May [    ], 2011

 among Applied Materials, Inc., 
 said Lenders and JPMorgan Chase Bank, N.A., 
 as Administrative Agent. 

Applied Materials, Inc. 

Ladies and Gentlemen: 
 I am
the Vice President, Legal Affairs of Applied Materials, Inc. (the “Borrower”) and have acted as its counsel in connection with the execution and delivery of the Credit Agreement, dated as of May [    ],
2011 (the “Credit Agreement”), among the Borrower, certain lenders party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent. Terms defined in the Credit Agreement are used herein with the same meaning. 

In connection with this opinion, I have examined executed copies of the Credit Agreement and the Notes and such other documents, records,
agreements and certificates as I have deemed appropriate. I have also reviewed such matters of law as I have considered relevant for the purpose of this opinion. 
 Based upon the foregoing, I am of the opinion that: 
 1. The Borrower is a
corporation duly incorporated, validly existing and in good standing under the laws of the State of Delaware, and has the corporate power and authority to own its assets and to transact the business in which it is now engaged or proposes to be
engaged. 
 2. The execution, delivery and performance by the Borrower of the Credit Agreement and the Notes are within the
Borrower’s corporate powers, have been duly authorized by all necessary corporate action, require no action by or in respect of, or filing with, any governmental body, agency or official and do not contravene, or constitute a default under, any
provision of applicable law or regulation or of the certificate of incorporation or by-laws of the Borrower or, to the best of my knowledge, of (i) any judgment, injunction, order or decree or
(ii)

  
 15 

 
any material agreement or other material instrument binding upon the Borrower, or result in the creation or imposition of any Lien on any asset of the Borrower. 

3. To the best of my knowledge, except as set forth under the heading “Legal Proceedings” in the Borrower’s 2010 Form 10-K
and other SEC filings filed by the Borrower prior to the date of this opinion, there are no pending or threatened actions, suits or proceedings against or affecting the Borrower or any of its Subsidiaries before any court, governmental agency or
arbitrator in which there is a reasonable possibility of an adverse determination which would have a Material Adverse Effect, or which in any manner draws into question the validity of the Credit Agreement or the Notes. 

Certain Assumptions 
 With your permission I have assumed the following: (a) the authenticity of original documents and the genuineness of all signatures; (b) the conformity to the originals of all documents
submitted to me as copies and the truth, accuracy, and completeness of the information, representations and warranties contained in the records, documents, instruments and certificates I have reviewed; and (c) the absence of any evidence
extrinsic to the provisions of the written agreements between the parties that the parties intended a meaning contrary to that expressed by those provisions. 
 Certain Limitations and Qualifications 
 I express no opinion as to laws other than
laws of the State of California, the federal law of the United States of America and the General Corporation Law of the State of Delaware. I am licensed to practice law only in the State of California. 

The phrase “to the best of my knowledge” is intended to indicate that, during the course of the performance of my duties as
Vice President, Legal Affairs, of the Borrower, no information that would give me current actual knowledge of the inaccuracy of such statement has come to my attention. 
 Use of Opinion 
 This opinion is solely for your benefit (and the benefit of any
assignee) in connection with the transaction covered by the first paragraph of this letter and may not be relied upon, used, circulated, quoted or referred to, nor may copies hereof be delivered to, any other person without my prior written
approval. I disclaim any obligation to update this opinion for events occurring or coming to my attention after the date hereof. 

  
 16 

 
	
	Very truly yours,
	
	Vice President, Legal Affairs

  
 17 

 EXHIBIT F 
 [Form of Opinion of Dewey & LeBoeuf LLP] 
 [Effective Date] 

To the Administrative Agent and each of the Lenders party to the Credit 
 Agreement referred to below 
 Ladies and Gentlemen: 

We have acted as special New York counsel to Applied Materials, Inc., a Delaware corporation (“Borrower”), in connection with
the Revolving Credit Agreement, dated as of May 25, 2011 (the “Credit Agreement”), by and among the Borrower, the financial institutions from time to time parties thereto as Lenders and JPMorgan Chase Bank, N.A., as administrative
agent (the “Administrative Agent”). This opinion is furnished to you pursuant to Section 3.01(g)(v) of the Credit Agreement. Capitalized terms used herein without definition shall have the respective meanings ascribed to them in the Credit
Agreement. 
 We have examined each of the following documents: 

(a) the Credit Agreement; and 
 (b) each of the Notes dated as of May 25, 2011, made by Borrower in favor of Lenders who requested them (collectively, the “Notes” and together with the Credit Agreement, the “Loan
Documents”); 
 We have examined such matters of fact and questions of law as we have considered appropriate for purposes
of rendering the opinions expressed below. We have assumed, with your permission and without independent verification of any kind: (a) that the signatures of persons signing all documents in connection with which this opinion is rendered are
genuine; (b) the legal capacity of all natural persons; (c) that all documents submitted to us as originals or duplicate originals are authentic; and (d) that all documents submitted to us as copies, whether certified or not, conform
to authentic original documents. As to questions of fact relevant to this opinion, we have assumed, without independent investigation or verification of any kind, the accuracy of the representations and warranties in the Loan Documents and have
relied upon certificates and written statements and other written information of public officials, officers and representatives of the Borrower. 
 In rendering the opinions expressed below, we have assumed, with your 

 
permission and without any independent investigation or verification of any kind, that: (i) each party to any Loan Document has been duly organized and is validly existing and in good
standing under the laws of its jurisdiction of incorporation and is duly qualified in each other jurisdiction in which the conduct of its business or the ownership of its property makes such qualification necessary; (ii) each party to any Loan
Document has full power and authority to execute, deliver and perform such Loan Documents to which it is a party; (iii) the execution, delivery and performance of the Loan Documents by each party thereto have been duly authorized by all
requisite action (corporate or otherwise) on the part of such party; (iv) the Loan Documents have been duly executed and delivered by each party thereto and other than with respect to the Borrower, constitute legal, valid and binding
obligations of each party thereto, enforceable against such party in accordance with their respective terms; (v) the execution, delivery and performance of the Loan Documents by each party thereto do not and will not violate the charter,
by-laws or other organizational documents of such party; and (vi) no consent or authorization of, filing with, notice to or other similar act by or in respect of, any federal or state court or governmental authority pursuant to any federal or state
statute is required to be obtained or made by or on behalf of any Person on or prior to the date hereof in connection with its execution, delivery or performance of the Loan Documents, or the performance of its obligations thereunder. 

On the basis of and subject to the foregoing, and subject to the additional limitations, qualifications and exceptions set forth below,
we are of the opinion that each Loan Document constitutes a legal, valid and binding obligation of the Borrower, enforceable against the Borrower in accordance with its terms. 
 Our opinion expressed herein are subject to the following qualifications: 
 A. Our
opinion is subject to applicable bankruptcy, insolvency, reorganization, fraudulent transfer or conveyance, moratorium, rearrangement, liquidation, conservatorship or other laws relating to or affecting creditor rights generally and to general
principles of equity (regardless of whether such principles are considered in a proceeding at law or in equity). These principles include, without limitation, concepts of commercial reasonableness, materiality and good faith and fair dealing.
Without limiting the foregoing qualifications, the opinions expressed herein do not purport to cover, and we express no opinion with respect to, the applicability of Section 548 of the federal Bankruptcy Code or any comparable provision of
state law, including the provisions relating to fraudulent conveyances. 
 B. Certain rights, remedies, waivers, releases or
disclaimers contained in the Loan Documents may be limited or rendered unenforceable by applicable law. 

  
 19 

 C. Indemnities, rights of contribution, exculpatory provisions, waivers and provisions
requiring arbitration of disputes may be limited by statute or public policy. 
 D. We express no opinion with respect to the
enforceability of any provisions of the Loan Documents that purport to require payment or reimbursement of attorneys’ fees or litigation expenses of another party. 
 E. We express no opinion, either directly or indirectly, as to the laws of any jurisdiction other than (i) the laws of the State of New York and (ii) the federal laws of the United States of
America, as currently in effect. Notwithstanding the foregoing, we express no opinion as to (i) any federal or state securities or “blue sky” laws, (ii) any tax laws, (iii) any state or United States federal laws relating to
environmental, energy regulatory, land use, health, safety, or welfare matters, (iv) any local laws or ordinances, (v) any intellectual property laws, (vi) the enforceability of the choice of law provisions in the Loan Documents
except insofar as such provisions designate New York law and enforcement of the Loan Documents is sought in the courts of the State of New York, (vii) the subject matter jurisdiction of any United States District Court or (viii) the
enforceability of any provision regarding the conclusive effect of any judgment or the enforcement thereof in any jurisdiction other than the jurisdiction in which rendered. 
 This opinion is being furnished to you in connection with the transactions evidenced by the Loan Documents. The Administrative Agent and each Lender (and their permitted successors and assigns) may rely
upon our opinion set forth herein in connection with those transactions. None of the Administrative Agent or any Lender may rely upon our opinion set forth herein for any other purpose. Our opinion set forth herein may not be relied upon by any
other person, firm, corporation, partnership or other entity without our prior written consent except that it may be disclosed (i) to your bank examiners and any other Governmental Authority or self-regulatory body to which you report or to
which you are subject to review, (ii) as required by law or pursuant to legal process, and (iii) to your accountants, lawyers and other advisors so long as such accountants, lawyers and other advisors agree not to disclose, quote or file
this opinion, but no such person may rely upon this opinion without our prior written consent. 
 The foregoing opinions are
rendered as of the date hereof, and we assume no obligation to update such opinions to reflect any facts or circumstances which may hereafter come to our attention or any changes in the law which may hereafter occur. 

 

	
	Very truly yours,

  
 20 

 EXHIBIT G 
 [Form of Opinion of Vice President, Legal Affairs of the Borrower (Commitment Increase)] 
 [Effective Date of Commitment Increase] 
 To each of the Lenders parties 

to the Credit Agreement dated 
 as of May [    ], 2011 
 among Applied Materials, Inc.,

 said Lenders and JPMorgan Chase Bank, N.A., 
 as Administrative Agent 
 Applied Materials, Inc. 

Ladies and Gentlemen: 
 I am the Vice President, Legal Affairs of Applied Materials, Inc. (the “Borrower”) and have acted as its counsel in connection with the execution and delivery of, and the increase of the
aggregate Commitments of the Lenders under, the Credit Agreement, dated as of May [    ], 2011, [as amended by [            ],]15 ([as so amended,]16 the “Credit Agreement”), among the Borrower, certain lenders party thereto and JPMorgan Chase Bank,
N.A., as Administrative Agent. Terms defined in the Credit Agreement are used herein with the same meaning. 
 In connection
with this opinion, I have examined executed copies of the Credit Agreement and the Notes and such other documents, records, agreements and certificates as I have deemed appropriate. I have also reviewed such matters of law as I have considered
relevant for the purpose of this opinion. 
 Based upon the foregoing, I am of the opinion that: 

 

	15 
	 Insert specific references to amendments only if Credit Agreement has been amended after the original closing date. 

	16 	 Delete this language if the Credit Agreement has not been amended since the original closing date. 

  
 21 

 1. The Borrower is a corporation duly incorporated, validly existing and in good standing
under the laws of the State of Delaware, and has the corporate power and authority to own its assets and to transact the business in which it is now engaged or proposes to be engaged. 

2. The execution, delivery and performance by the Borrower of the Credit Agreement and the Notes, after giving effect to the Commitment
Increase, are within the Borrower’s corporate powers, have been duly authorized by all necessary corporate action, require no action by or in respect of, or filing with, any governmental body, agency or official and do not contravene, or
constitute a default under, any provision of applicable law or regulation or of the certificate of incorporation or by-laws of the Borrower or, to the best of my knowledge, of (i) any judgment, injunction, order or decree, or (ii) any
material agreement or other material instrument binding upon the Borrower, or result in the creation or imposition of any Lien on any asset of the Borrower. 
 Certain Assumptions 
 With your permission I have assumed the following:
(a) the authenticity of original documents and the genuineness of all signatures; (b) the conformity to the originals of all documents submitted to me as copies and the truth, accuracy, and completeness of the information, representations
and warranties contained in the records, documents, instruments and certificates I have reviewed; and (c) the absence of any evidence extrinsic to the provisions of the written agreements between the parties that the parties intended a meaning
contrary to that expressed by those provisions. 
 Certain Limitations and Qualifications 

I express no opinion as to laws other than laws of the State of California, the federal law of the United States of America and the
General Corporation Law of the State of Delaware. I am licensed to practice law only in the State of California. 
 Use of
Opinion 
 This opinion is solely for your benefit (and the benefit of any assignee) in connection with the transaction covered
by the first paragraph of this letter and may not be relied upon, used, circulated, quoted or referred to, nor may copies hereof be delivered to, any other person without my prior written approval. I disclaim any obligation to update this opinion
for events occurring or coming to my attention after the date hereof. 
  

	
	Very truly yours,

  
 22 

 
	
	Vice President, Legal Affairs

  
 23Second Amended and Restated Commitment Letter, dated April 26, 2011

 Exhibit 10.2 

 

 

  

Execution Version 
  

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED BANK OF AMERICA, N.A. ONE BRYANT PARK NEW YORK,
NEW YORK 10036 DEUTSCHE BANK AG NEW YORK BRANCH 
  
 DEUTSCHE BANK SECURITIES INC. 
  

60 Wall Street 
  

New York, New York 10005 CITIGROUP GLOBAL MARKETS INC. 390 Greenwich Street New York, New York 10013
WELLS FARGO SECURITIES, LLC 
  
 One Wells Fargo Center 
  
 301 South College Street 
 Charlotte, NC 28288

 WELLS FARGO BANK, N.A. 
 375 Park Avenue, 3rd Floor 
 New York, New York
10152 
 April 26, 2011 
 Silgan Holdings Inc. 

	 4
	  
	 Landmark Square 

 Suite 400 
 Stamford, CT 06901 

Project Sailfish Amended and Restated Commitment Letter 

Ladies and Gentlemen: 
 This Second Amended and Restated Commitment Letter amends and restates in its entirety the Amended and Restated Commitment Letter dated as of April 12, 2011 (the “Original
Commitment Letter”) by and among Silgan, Bank of America and Merrill Lynch (each as defined below) and supersedes it in all respects, and the Original Commitment Letter shall be of no further force and effect. 

You have advised Bank of America, N.A. (“Bank of America”), Merrill Lynch, Pierce, Fenner & Smith
Incorporated (“Merrill Lynch” and, together with Bank of America, “BAML”), Deutsche Bank AG New York Branch (“DBNY”), Deutsche Bank Securities Inc. (“DBSI” and, together with DBNY, “DB”),
Citigroup Global Markets Inc. (“CGMI” and, together with Citibank, N.A., Citicorp USA, Inc. and Citicorp North America, Inc., “Citi”), Wells Fargo Bank, N.A. (“Wells Fargo”) and Wells Fargo Securities, LLC (“Wells
Fargo Securities” and, together with BAML, DB, Citi and Wells Fargo, “we” or “us” or the “Commitment Parties”) that Silgan Holdings Inc. (“Silgan” or “you”), a Delaware corporation, intends to
acquire (the “Acquisition”) Graham Packaging Company Inc., a Delaware corporation (the “Acquired Business”) from its current equity holders. The Acquisition will be effected through the merger of the Acquired Business with and
into Silgan, with Silgan surviving such merger. After giving effect to the Transaction (as hereinafter defined), Silgan will own all of the assets of the Acquired Business immediately prior to the consummation of the Transaction, including the
equity in any subsidiaries owned by the Acquired Business immediately prior to the consummation of the Transaction, and will continue to hold all assets held by Silgan as of immediately prior to the consummation of the Transaction, including the
equity in any subsidiaries owned by Silgan. Silgan, the Acquired Business and their respective subsidiaries are sometimes collectively referred to herein as the “Companies”. 

	 1
	  
	 

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	 8 

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14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 

 

 

  
 You have also
advised us that you intend to finance the Acquisition, the repayment or redemption of certain existing indebtedness of the Companies (the “Refinancing”), the costs and expenses related to the Transaction and the ongoing working capital and
other general corporate purposes of the Companies after consummation of the Acquisition from the following sources (and that no financing other than the financing described herein will be required in connection with the Transaction): (a) common
equity of Silgan in an aggregate amount not less than 20% of the total consideration paid for the equity of the Acquired Business; (b) up to $4,000 million in senior secured credit facilities of Silgan (collectively, the “Senior Credit
Facilities”), comprised of (i) term loan facilities of $3,200 million, consisting of a term loan A facility of $900 million and a term loan B facility (which, at the option of Silgan and the Commitment Parties, may be replaced by one or
more senior note facilities that will reduce the principal amount of the term loan B facility on a dollar-for dollar basis) of $2,300 million, and (ii) a revolving credit facility of up to $800 million; (c) in the event any holder of the
Acquired Business’ 8.25% Senior Unsecured Notes due 2017 and 8.25% Senior Unsecured Notes (the “Existing Senior Notes”) tender their Existing Senior Notes pursuant to the Change of Control Offer (as defined in the indenture governing
the Existing Senior Notes) to be made in connection with the Transactions (the “Put”), an amount equal to the principal of Existing Senior Notes tendered pursuant to the Put, but in no event more than $500 million in gross proceeds from
the issuance and sale by Silgan of senior unsecured notes (the “Senior Notes”) or, if the Senior Notes are not issued and sold on or prior to the date of redemption in connection with the Change of Control Offer, an amount equal to the
face amount of Existing Senior Notes tendered pursuant to the Put, but in no event more than $500 million, in senior unsecured loans (the “Senior Bridge Loans” and, together with any Senior Rollover Loans and Senior Exchange Notes (each as
defined in Annex II hereto), the “Senior Bridge Facility”, as interim financing for the mandatory redemption of Existing Senior Notes pursuant to the Put, (d) up to $400 million in gross proceeds from the issuance and sale by Silgan
of senior subordinated unsecured notes (the “Subordinated Notes”) or, if the Subordinated Notes are not issued and sold on or prior to the date of consummation of the Acquisition, $400 million in senior subordinated unsecured loans (the
“Subordinated Bridge Loans” and, together with any Subordinated Rollover Loans and Subordinated Exchange Notes (each as defined in Annex III hereto), the “Subordinated Bridge Facility”) and (e) available cash on hand of
Silgan. The Subordinated Bridge Loans together with the Senior Bridge Loans are hereinafter collectively referred to as the “Bridge Loans”. The Senior Notes and the Subordinated Notes are hereinafter collectively referred to as the
“Notes”. The Subordinated Bridge Facility and the Senior Bridge Facility are hereinafter collectively referred to as the “Bridge Facilities”. The Bridge Facilities together with the Senior Credit Facilities are hereinafter
collectively referred to as the “Facilities”. The Acquisition, the Refinancing, the entering into and funding of the Senior Credit Facilities, the issuance and sale of the Notes or the entering into and funding of the Bridge Loans and all
related transactions are hereinafter collectively referred to as the “Transaction”. The date of consummation of the Acquisition is referred to herein as the “Closing Date”. 

1. Commitments. In connection with the foregoing, (a)(i) Bank of America is pleased to advise you of its commitment to
provide 45% of the principal amount of each of the Senior Credit Facilities and its willingness to act as the sole and exclusive syndication agent (in such capacity, the “Senior Syndication Agent”) for the Senior Credit Facilities
(ii) DBNY is pleased to advise you of its commitment to provide 25% of the principal amount of each of the Senior Credit Facilities, (iii) Citi is please to advise you of its commitment to provide 15% of the principal amount of each of the
Senior Credit Facilities, (iv) Wells Fargo is pleased to advise you of its commitment to provide 15% of the principal amount of each of the Senior Credit Facilities (Wells Fargo, together with Bank of America, DBNY and Citi, in such capacity,
the “Initial Senior Lenders”), all upon the terms of this Commitment Letter and subject only to the conditions set forth in the first sentence of Section 5 of this Commitment Letter and in Annex IV hereto (the “Funding
Conditions”) (collectively, the “Senior Financing Summary of Terms”), (b) each of Merrill Lynch, DBSI, CGMI and Wells Fargo Securities is pleased to advise you of its willingness, and you hereby engage Merrill Lynch, DBSI, CGMI
and Wells Fargo Securities to act as 
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66 67 68 69 70 71 72 73 74 75 76 77 78 

 

 

  
 
joint lead arrangers and joint bookrunning managers (in such capacity, the “Senior Joint Lead Arrangers” and “Senior Joint Bookrunning Managers”) for the Senior Credit
Facilities, and in connection therewith to form a syndicate of lenders for the Senior Credit Facilities (collectively, the “Senior Lenders”) in consultation with you, including Bank of America, DBNY, Citi and Wells Fargo, (c) Bank of
America is pleased to advise you of its commitment to provide the full principal amount of the Senior Bridge Loans (in such capacity, the “Initial Senior Bridge Lender”) and its willingness to act as the sole and exclusive syndication
agent (in such capacity, the “Senior Bridge Syndication Agent”) for the Senior Bridge Loans, all upon the terms of this Commitment Letter and subject only to the Funding Conditions (collectively, the “Senior Bridge Summary of
Terms”), (d) Merrill Lynch is also pleased to advise you of its willingness, and you hereby engage Merrill Lynch, to act as lead arranger and bookrunning manager (in such capacity, the “Senior Bridge Lead Arranger” and
“Senior Bridge Bookrunning Manager”) for the Senior Bridge Loans, and in connection therewith to form a syndicate of lenders for the Senior Bridge Loans (collectively, the “Senior Bridge Lenders”) in consultation with you,
including Bank of America, (e) Bank of America is pleased to advise you of its commitment to provide the full principal amount of the Senior Subordinated Bridge Loans (in such capacity, the “Initial Subordinated Bridge Lender” and,
together with the Initial Senior Bridge Lender, the “Initial Bridge Lenders”; the Initial Bridge Lenders together with the Initial Senior Lenders, the “Initial Lenders”) and its willingness to act as the sole and exclusive
syndication agent (in such capacity, the “Subordinated Bridge Syndication Agent” and, together with the Senior Syndication Agent and the Senior Bridge Syndication Agent, each, a “Syndication Agent” and, together, the
“Syndication Agents”) for the Subordinated Bridge Loans, all upon the terms of this Commitment Letter and subject only to the Funding Conditions (collectively, the “Subordinated Bridge Summary of Terms” and, together with the
Senior Financing Summary of Terms and the Senior Bridge Summary of Terms, the “Summaries of Terms”), (f) Merrill Lynch is also pleased to advise you of its willingness, and you hereby engage Merrill Lynch, to act as lead arranger and
bookrunning manager (in such capacity, the “Subordinated Bridge Lead Arranger” and “Subordinated Bridge Bookrunning Manager”) for the Subordinated Bridge Loans, and in connection therewith to form a syndicate of lenders for the
Subordinated Bridge Loans (collectively, the “Subordinated Bridge Lenders” and, together with the Senior Lenders and the Senior Bridge Lenders, the “Lenders”) in consultation with you, including Bank of America. Merrill Lynch
acting in its capacity as Senior Bridge Lead Arranger and/or Subordinated Bridge Lead Arranger are sometimes referred to herein as the “Bridge Lead Arrangers”. The Senior Joint Lead Arrangers together with the Bridge Lead Arrangers are
sometimes referred to herein as the “Lead Arrangers”. This letter agreement, together with the Summaries of Terms, is herein called the “Commitment Letter”. It is understood and agreed that DBNY and DBSI will have “lead
left” placement on all marketing materials relating to the Senior Credit Facilities and will perform the duties and exercise the authority customarily performed and exercised by them in such role, including acting as sole manager of the
physical books. It is understood and agreed that Bank of America and Merrill Lynch will have “lead left” placement on all marketing materials relating to the Bridge Facilities and will perform the duties and exercise the authority
customarily performed and exercised by them in such role, including acting as sole manager of the physical books. No other compensation shall be paid by Silgan in connection with the Facilities except as set forth in this Commitment Letter and the
Fee Letter (as hereinafter defined). The commitments of the Initial Lenders in respect of the Facilities and the undertaking of the Lead Arrangers to provide the services described herein are subject to the satisfaction of each of the conditions
precedent set forth herein and in the Summaries of Terms. All capitalized terms used and not otherwise defined herein shall have the same meanings as specified therefor in the Summaries of Terms. 

2. Syndication. The Lead Arrangers intend to commence syndication of the Facilities promptly after your acceptance of the
terms of this Commitment Letter and the Fee Letter. You agree to actively assist, and to use your commercially reasonable efforts to cause the Acquired Business and its subsidiaries to actively assist, the Lead Arrangers in achieving a syndication
of each such Facility that is satisfactory to the applicable Lead Arrangers. Such assistance shall include (a) your providing and caus 
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123 124 125 126 127 

 

 

  
 
ing your advisors to provide, and using your commercially reasonable efforts to cause the Acquired Business, its subsidiaries and its advisors to provide, the Lead Arrangers and the Lenders upon
request with all information reasonably deemed necessary by the Lead Arrangers to complete such syndication, including, but not limited to, information and evaluations prepared by you, the Acquired Business and your and its advisors, or on your or
its behalf, relating to the Transaction (including the Projections (as hereinafter defined), (b) your preparation, within 20 business days of the date hereof, of an information memorandum with respect to each of the Facilities in form and
substance customary for transactions of this type and otherwise reasonably satisfactory to the Lead Arrangers (each, an “Information Memorandum”) and other customary materials to be used in connection with the syndication of each such
Facility (collectively with the Summaries of Terms and any additional summary of terms prepared for distribution to Public Lenders (as hereinafter defined)), the “Information Materials”), (c) your using your commercially reasonable
efforts to ensure that the syndication efforts of the Lead Arrangers benefit from your existing lending relationships and the existing banking relationships of the Acquired Business, (d) your using your commercially reasonable efforts to obtain
monitored public corporate credit or family ratings of Silgan after giving effect to the Transaction and ratings of the Senior Credit Facilities, the Senior Bridge Loans, the Subordinated Bridge Loans, the Senior Notes and the Subordinated Notes
from Moody’s Investors Service, Inc. (“Moody’s”) and Standard & Poor’s, a division of The McGraw-Hill Companies, Inc. (“S&P”) (collectively, the “Ratings”) and (e) your otherwise
assisting the Lead Arrangers in their syndication efforts, including by making your officers and advisors, and using your commercially reasonable efforts to make the officers and advisors of the Acquired Business, available from time to time to
attend and make presentations regarding the business and prospects of the Companies and the Transaction at one or more meetings of prospective Lenders. 
 It is understood and agreed that none of the Companies shall syndicate or issue, attempt to syndicate or issue, announce or authorize the announcement of the syndication or issuance of, or
engage in discussions concerning the syndication or issuance of, any debt of the Companies (other than the Facilities and the Notes), including any renewals or refinancings of any existing debt, without the prior written consent of the Lead
Arrangers (it being understood that this condition shall survive the Closing Date as a covenant until the Successful Syndication (as defined in the Fee Letter) of the Facilities). It is further understood and agreed that the Lead Arrangers will
manage and control all aspects of the syndication of the Facilities in consultation with you, including decisions as to the selection of prospective Lenders and any titles offered to proposed Lenders, when commitments will be accepted and the final
allocations of the commitments among the Lenders. It is understood that no Lender participating in the Facilities will receive compensation from you in order to obtain its commitment, except on the terms contained herein and in the Summaries of
Terms. It is also understood and agreed that the amount and distribution of the fees among the Lenders will be at the sole and absolute discretion of the Lead Arrangers. 
 Without limiting your obligation to assist with the syndication efforts as set forth above, it is understood and agreed that the commitments of the Initial Lenders hereunder are not
subject to the commencement or completion of the syndication of the Facilities or any of them. 
 3. Information
Requirements. You hereby represent, warrant and covenant that (a) all written information, other than Projections (as defined below), that has been or is hereafter made available to any of the Lead Arrangers or any of the Lenders by or on
behalf of you or any of your representatives or, to your knowledge, by or on behalf of the Acquired Business or any of its representatives in connection with any aspect of the Transaction (the “Information”) is or will, when furnished, be,
taken as a whole (and after giving effect to all supplements and updates thereto), complete and correct in all material respects and does not and will not contain any untrue statement of a material fact or omit to state a material fact necessary to
make the statements contained therein not misleading and (b) all financial projections concerning the Companies that have been or are hereafter made available to any of the Lead Arrangers or any of the Lenders by or on behalf of you or any of
your representatives or, to our knowledge, 
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163 164 165 
 166 167 168 169 170 171 172 173 174 175 

 

 

  
 
by or on behalf of the Acquired Business or its representatives (the “Projections”) have been or will be prepared in good faith based upon assumptions that you believe to be reasonable
at the time made and at the time such Projections are made available to the Lead Arrangers or any of the Lenders, it being recognized by the Lead Arrangers and the Lenders that such Projections are not to be viewed as facts, are subject to
significant uncertainties, that actual results during the period or periods covered by any such Projections may differ from the projected results and such differences may be material, and that no assurance can be given that the projected results
will be realized. You agree that if at any time prior to the Closing Date and, if requested by us, for such period thereafter as is necessary to complete the syndication of the Facilities any of the representations in the preceding sentence would be
incorrect in any material respect if the Information and Projections were being prepared and furnished, and such representations were being made, at such time, then you will promptly supplement, or cause to be supplemented, the Information and
Projections so that such representations will be correct at such time. In issuing this commitment and in arranging and syndicating each of the Facilities, the Commitment Parties are and will be using and relying on the Information and the
Projections without independent verification thereof. The Information and Projections provided to the Lead Arrangers prior to the date hereof are hereinafter referred to as the “Pre-Commitment Information”. 

You acknowledge that (a) the Lead Arrangers on your behalf will make available Information Materials to the proposed
syndicate of Lenders by posting the Information Materials on IntraLinks or another similar electronic system and (b) certain prospective Lenders (such Lenders, “Public Lenders”; all other Lenders, “Private Lenders”) may have
personnel that do not wish to receive material non-public information (within the meaning of the United States federal securities laws, “MNPI”) with respect to the Companies, their respective affiliates or any other entity, or the
respective securities of any of the foregoing, and who may be engaged in investment and other market-related activities with respect to such entities’ securities. If requested, you will assist us in preparing an additional version of the
Information Materials not containing MNPI (the “Public Information Materials”) to be distributed to prospective Public Lenders. 
 Before distribution of any Information Materials (a) to prospective Private Lenders, you shall provide us with a customary letter authorizing the dissemination of the Information
Materials and (b) to prospective Public Lenders, you shall provide us with a customary letter authorizing the dissemination of the Public Information Materials and confirming the absence of MNPI therefrom. In addition, at our request, you shall
identify Public Information Materials by clearly and conspicuously marking the same as “PUBLIC”. 
 You
agree that the Lead Arrangers on your behalf may distribute the following documents to all prospective Lenders, unless you advise the Lead Arrangers in writing (including by email) within a reasonable time prior to their intended distributions that
such material should only be distributed to prospective Private Lenders: (a) administrative materials for prospective Lenders such as lender meeting invitations and funding and closing memoranda, (b) term sheets with respect to each of the
Facilities and notifications of changes to the terms of the Facilities and (c) other materials intended for prospective Lenders after the initial distribution of the Information Materials, including drafts and final versions of definitive
documents with respect to the Facilities. If you advise us that any of the foregoing items should be distributed only to Private Lenders, then the Lead Arrangers will not distribute such materials to Public Lenders without further discussions with
you. You agree that Information Materials made available to prospective Public Lenders in accordance with this Commitment Letter shall not contain MNPI. 
 4. Fees and Indemnities. 
 (a) You agree to pay the
fees set forth in the separate fee letter addressed to you dated the date hereof from the Commitment Parties (the “Fee Letter”). You also agree to reimburse the Commit 

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ment Parties from time to time on demand for all reasonable out-of-pocket fees and expenses (including, but not limited to, the reasonable fees, disbursements and other charges of (i) a
single law firm as counsel to the Senior Joint Lead Arrangers and the Senior Syndication Agent, (ii) a single law firm as counsel to the Senior Bridge Syndication Agent and the Subordinated Bridge Syndication Agent, and (iii) any local
counsel to the Lenders retained by the Lead Arrangers and due diligence expenses) incurred in connection with the Facilities, the syndication thereof, the preparation of the Credit Documentation therefor and the other transactions contemplated
hereby, whether or not the Closing Date occurs or any Credit Documentation is executed and delivered or any extensions of credit are made under either of the Facilities. You acknowledge that we may receive a benefit, including without limitation, a
discount, credit or other accommodation, from any of such counsel based on the fees such counsel may receive on account of their relationship with us including, without limitation, fees paid pursuant hereto. 

(b) You also agree to indemnify and hold harmless each of the Commitment Parties, the Syndication Agents, each Lead
Arranger, each Senior Joint Bookrunning Manager, the Senior Bridge Bookrunning Manager, the Subordinated Bridge Bookrunning Manager, each other Lender and each of their affiliates, successors and assigns and their respective officers, directors,
employees, agents, advisors and other representatives (each, an “Indemnified Party”) from and against (and will reimburse each Indemnified Party as the same are incurred for) any and all claims, damages, losses, liabilities and expenses
(including, without limitation, the reasonable fees, disbursements and other charges of counsel) that may be incurred by or asserted or awarded against any Indemnified Party, in each case arising out of or in connection with or by reason of
(including, without limitation, in connection with any investigation, litigation or proceeding or preparation of a defense in connection therewith) (a) any aspect of the Transaction and any of the other transactions contemplated thereby or
(b) the Facilities, or any use made or proposed to be made with the proceeds thereof (in all cases, whether or not caused or arising, in whole or in part, out of the comparative, contributory or sole negligence of the Indemnified Party), except
to the extent such claim, damage, loss, liability or expense is found in a final, non-appealable judgment by a court of competent jurisdiction to have resulted from such Indemnified Party’s gross negligence, willful misconduct or bad faith. In
the case of any claim, litigation, investigation or proceeding (any of the foregoing, a “Proceeding”) to which the indemnity in this paragraph applies, such indemnity shall be effective whether or not such Proceeding is brought by you,
your equity holders or creditors or an Indemnified Party, whether or not an Indemnified Party is otherwise a party thereto and whether or not any aspect of the Transaction is consummated. You also agree that no Indemnified Party shall have any
liability (whether direct or indirect, in contract or tort or otherwise) to you, or your subsidiaries or affiliates or to your respective equity holders or creditors or any other person arising out of, related to or in connection with any aspect of
the Transaction, except, in your and your subsidiaries’ case only, to the extent of direct (as opposed to special, indirect, consequential or punitive) damages determined in a final, non-appealable judgment by a court of competent jurisdiction
to have resulted from such Indemnified Party’s gross negligence, willful misconduct or bad faith. It is further agreed that the Commitment Parties shall only have liability to you (as opposed to any other person), and that the Commitment
Parties shall be severally liable solely in respect of their respective commitments to the Facilities, on a several, and not joint, basis with any other Lender, and that such liability shall only arise to the extent damages have been caused by
breach of the Commitment Parties’ respective obligations hereunder to negotiate in good faith the Credit Documentation on the terms set forth in this Commitment Letter and the Fee Letter, as determined in a final, non-appealable judgment by a
court of competent jurisdiction. Notwithstanding any other provision of this Commitment Letter, no Indemnified Party shall be liable for any damages arising from the use by others of information or other materials obtained through electronic
telecommunications or other information transmission systems, other than for direct, actual damages resulting from the gross negligence, willful misconduct or bad faith of such Indemnified Party as determined by a final, non-appealable judgment of a
court of competent jurisdiction. You shall not, without the prior written consent of an Indemnified Party (which consent shall not be unreasonably withheld or delayed), effect any settlement of any pending or 

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threatened Proceeding against an Indemnified Party in respect of which indemnity could have been sought hereunder by such Indemnified Party unless (i) such settlement includes an
unconditional release of such Indemnified Party from all liability or claims that are the subject matter of such Proceeding and (ii) does not include any statement as to any admission. You shall not be responsible or liable for any indirect,
special, exemplary, incidental, punitive or consequential damages (including, without limitation, any loss of profits, business or anticipated savings) which may be alleged as a result of this letter, the Fee Letter or the financing contemplated
hereby except to the extent such damages would otherwise be subject to indemnification pursuant to the terms of this paragraph. 
 5. Conditions to Financing. The commitment of the Initial Senior Lenders in respect of the Senior Credit Facilities, the commitment of the Initial Senior Bridge Lender in respect of the
Senior Bridge Loans, the commitment of the Initial Subordinated Bridge Lender in respect of the Subordinated Bridge Loans and the undertaking of the Lead Arrangers to provide the services described herein are subject to the satisfaction of each of
the conditions set forth in Annex IV hereto and to the negotiation, execution and delivery of definitive documentation with respect to each such Facility consistent with this Commitment Letter and Section 3 of the Fee Letter (the “Credit
Documentation”), it being understood and agreed that there are no conditions (implied or otherwise) to the commitments hereunder (including compliance with the terms of the Commitment Letter, Fee Letter and Credit Documentation) other than the
Funding Conditions and, upon satisfaction of the Funding Conditions, the initial funding under the Facilities shall occur. 
 Notwithstanding anything in this Commitment Letter, the Fee Letter, the Credit Documentation or any other letter agreement or other undertaking concerning the financing of the Transaction
to the contrary, the only representations relating to the Acquired Business, its subsidiaries and its businesses the accuracy of which shall be a condition to the availability of the Facilities on the Closing Date shall be (i) the
representations made by or with respect to the Acquired Business and its subsidiaries in the Acquisition Agreement (as hereinafter defined) as are material to the interests of the Lenders, but only to the extent that you have the right to terminate
your obligations under the Acquisition Agreement, or to decline to consummate the Acquisition pursuant to the Acquisition Agreement, as a result of a breach of such representations in the Acquisition Agreement (the “Acquisition Agreement
Representations”) and (ii) the Specified Representations (as hereinafter defined). For purposes hereof, “Specified Representations” means the representations and warranties set forth in the Credit Documentation relating to
corporate status, corporate power and authority to enter into the Credit Documentation, due authorization, execution, delivery and enforceability of the Credit Documentation, no conflicts with or consents under laws or the charter documents of
Silgan and its subsidiaries (in each case with respect to the Transaction) (other than consents that have been obtained), solvency, absence of litigation with respect to the Facilities or the Notes, Federal Reserve margin regulations, the U.S.A.
Patriot Act, the Investment Company Act, status of the Senior Credit Facility and Senior Bridge Facility as senior debt, the creation, validity, priority and perfection of the security interests granted in the intended collateral (it being
understood that to the extent any security interest in the intended collateral (other than any collateral the security interest in which may be perfected by the filing of a UCC financing statement, the filing of short-form security agreements with
the United States Patent and Trademark Office or the United States Copyright Office or the delivery of certificates evidencing equity interests) is not provided on the Closing Date after your use of commercially reasonable efforts to do so, the
provision of such perfected security interest(s) shall not constitute a condition precedent to the availability of the Facilities on the Closing Date but shall be required to be delivered after the Closing Date pursuant to arrangements to be
mutually agreed). It is understood and agreed that the terms of the Credit Documentation and the closing deliverables enumerated in Annex IV shall be in a form such that they do not impair the availability of the Facilities on the Closing Date if
the Funding Conditions are satisfied. This paragraph is referred to as the “Funding Provision.” 
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 6.
Confidentiality and Other Obligations. This Commitment Letter and the Fee Letter and the contents hereof and thereof are confidential and, may not be disclosed in whole or in part to any person or entity without our prior written consent except
(i) on a confidential basis to your accountants, attorneys and other professional advisors in connection with the Transactions, (ii) pursuant to the order of any court or administrative agency in any pending legal or administrative
proceeding, or otherwise as required by applicable law or compulsory legal process based on the advice of your legal counsel (in which case you agree to inform us promptly thereof, to the extent not prohibited by law, rule or regulations), and
(iii) this Commitment Letter and the Fee Letter (redacted in a customary manner) may be disclosed on a confidential basis to the board of directors, attorneys, independent auditors, and advisors of the Acquired Business in connection with their
consideration of the Transaction, and (iv) to the extent that such information becomes publicly available other than by reason of disclosure in violation of this agreement by the Commitment Parties. 

The Commitment Parties shall use all confidential information provided to them by or on behalf of you hereunder solely for
the purpose of providing the services which are the subject of this letter agreement and otherwise in connection with the Transactions and shall treat confidentially all such information; provided, however, that nothing herein shall prevent the
Commitment Parties from disclosing any such information (i) pursuant to the order of any court or administrative agency or in any pending legal or administrative proceeding, or otherwise as required by applicable law or compulsory legal process
(in which case the Commitment Parties agree to inform you promptly thereof prior to such disclosure to the extent not prohibited by law, rule or regulation), (ii) upon the request or demand of any regulatory authority having jurisdiction over
the Commitment Parties or any of their respective affiliates, (iii) to the extent that such information becomes publicly available other than by reason of disclosure in violation of this agreement by the Commitment Parties, (iv) to the
Commitment Parties’ affiliates, employees, legal counsel, independent auditors and other experts or agents, including any ratings agencies, who need to know such information in connection with the Transactions and are informed of the
confidential nature of such information, (v) for purposes of establishing a “due diligence” defense, (vi) to the extent that such information is received by the Commitment Parties from a third party that is not to the Commitment
Parties’ knowledge subject to confidentiality obligations to you, (vii) to the extent that such information is independently developed by the Commitment Parties or (viii) to potential Lenders, participants or assignees who agree to be
bound by the terms of this paragraph (or language substantially similar to this paragraph or as otherwise reasonably acceptable to you and each Commitment Party, including as may be agreed in any confidential information memorandum or other
marketing material). This paragraph shall terminate on the first anniversary of the date hereof. 
 You
acknowledge that the Commitment Parties or their affiliates may be providing financing or other services to parties whose interests may conflict with yours. The Commitment Parties agree that they will not furnish confidential information obtained
from you to any of their other customers and will treat confidential information relating to the Companies and their respective affiliates with the same degree of care as they treat their own confidential information. The Commitment Parties further
advise you that they will not make available to you confidential information that they have obtained or may obtain from any other customer. In connection with the services and transactions contemplated hereby, you agree that the Commitment Parties
are permitted to access, use and share with any of their bank or non-bank affiliates, agents, advisors (legal or otherwise) or representatives who need to know such information in connection with the services and transactions contemplated hereby,
any information concerning the Companies or any of their respective affiliates that is or may come into the possession of the Commitment Parties or any of such affiliates. 
 In connection with all aspects of each transaction contemplated by this Commitment Letter, you acknowledge and agree, and acknowledge your affiliates’ understanding, that:
(i) each of the Facilities and any related arranging or other services described in this Commitment Letter is an arm’s-length 
 -8- 318 319 320 321 322 323 324 325 326 327 328 329 

330 331 332 333 334 335 336 337 338 339 340 341 342 343 344 345 346 347 348 349 350 

351 352 353 354 355 356 357 358 359 360 361 362 
 363 364 365 

 

 

  
 
commercial transaction between you and your affiliates, on the one hand, and the Commitment Parties, on the other hand, (ii) the Commitment Parties have not provided any legal, accounting,
regulatory or tax advice with respect to any of the transactions contemplated hereby and you have consulted your own legal, accounting, regulatory and tax advisors to the extent you have deemed appropriate, (iii) you are capable of evaluating,
and understand and accept, the terms, risks and conditions of the transactions contemplated hereby, (iv) in connection with each transaction contemplated hereby and the process leading to such transaction, each of the Commitment Parties has
been, is, and will be acting solely as a principal and, except as otherwise 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 you or any of your affiliates,
stockholders, creditors or employees or any other party, (v) the Commitment Parties have not assumed and will not assume an advisory, agency or fiduciary responsibility in your or your affiliates’ favor with respect to any of the
transactions contemplated hereby or the process leading thereto (irrespective of whether any of the Commitment Parties has advised or is currently advising you or your affiliates on other matters) and the Commitment Parties have no obligation to you
or your affiliates with respect to the transactions contemplated hereby except those obligations expressly set forth in this Commitment Letter and (vi) the Commitment Parties and their respective affiliates may be engaged in a broad range of
transactions that involve interests that differ from yours and those of your affiliates, and the Commitment Parties have no obligation to disclose any of such interests to you or your affiliates. To the fullest extent permitted by law, you hereby
waive and release any claims that you may have against the Commitment Parties with respect to any breach or alleged breach of agency or fiduciary duty in connection with any aspect of any transaction contemplated by this Commitment Letter.

 The Commitment Parties hereby notify you that pursuant to the requirements of the USA PATRIOT Act, Title III
of Pub. L. 107-56 (signed into law October 26, 2001) (the “U.S.A. Patriot Act”), each of them is required to obtain, verify and record information that identifies you, which information includes your and each of the Guarantors’
name and address and other information that will allow the Commitment Parties, as applicable, to identify you and each of the Guarantors in accordance with the U.S.A. Patriot Act. 

7. Survival of Obligations. The provisions of Sections 2, 3, 4, 6 and 8 shall remain in full force and effect regardless
of whether any Credit Documentation shall be executed and delivered and notwithstanding the termination of this Commitment Letter or any commitment or undertaking of the Commitment Parties hereunder, except that the provisions of paragraphs 2 and 3
shall not survive if the commitments and undertakings of the Commitment Parties are terminated prior to the effectiveness of the Senior Credit Facilities and funding of the Bridge Facility. 

8. Miscellaneous. This Commitment Letter and the Fee Letter may be executed in multiple counterparts and by different
parties hereto in separate counterparts, all of which, taken together, shall constitute an original. Delivery of an executed counterpart of a signature page to this Commitment Letter or the Fee Letter by telecopier, facsimile or other electronic
transmission (e.g., a “pdf” or “tiff”) shall be effective as delivery of a manually executed counterpart thereof. Headings are for convenience of reference only and shall not affect the construction of, or be taken into
consideration when interpreting, this Commitment Letter or the Fee Letter. 
 This Commitment Letter and the Fee
Letter shall be governed by, and construed in accordance with, the laws of the State of New York. Each party hereto hereby irrevocably waives any and all right to trial by jury in any action, proceeding or counterclaim (whether based on contract,
tort or otherwise) arising out of or relating to this Commitment Letter, the Fee Letter, the Transaction and the other transactions contemplated hereby and thereby or the actions of the Commitment Parties in the negotiation, performance or
enforcement hereof. Each party hereto hereby irrevocably and unconditionally submits to the exclusive jurisdiction of any New York State court or Federal court of the United States of America 

-9- 366 367 368 369 370 371 372 373 374 375 376 377 378 379 380 381 382 383 384 385 386 

387 388 389 390 391 392 
 393 394 395 396 397 398 
 399 400 401 402 403 404
405 
 406 407 408 409 410 411 412 

 

 

  
 
sitting in the Borough of Manhattan in New York City in respect of any suit, action or proceeding arising out of or relating to the provisions of this Commitment Letter, the Fee Letter, the
Transaction and the other transactions contemplated hereby and thereby and irrevocably agrees that all claims in respect of any such suit, action or proceeding may be heard and determined in any such court. The parties hereto agree that service of
any process, summons, notice or document by registered mail addressed to you shall be effective service of process against you for any suit, action or proceeding relating to any such dispute. Each party hereto waives, to the fullest extent permitted
by applicable law, any objection that it may now or hereafter have to the laying of the venue of any such suit, action or proceedings brought in any such court, and any claim that any such suit, action or proceeding brought in any such court has
been brought in an inconvenient forum. A final judgment in any such suit, action or proceeding brought in any such court may be enforced in any other courts to whose jurisdiction you are or may be subject by suit upon judgment. 

This Commitment Letter, together with the Fee Letter, embodies the entire agreement and understanding among the parties
hereto and your affiliates with respect to the Facilities and supersedes all prior agreements and understandings relating to the subject matter hereof. No party has been authorized by the Commitment Parties to make any oral or written statements
that are inconsistent with this Commitment Letter. Neither this Commitment Letter (including the attachments hereto) nor the Fee Letter may be amended or any term or provision hereof or thereof waived or modified except by an instrument in writing
signed by each of the parties hereto. 
 This Commitment Letter may not be assigned by you without our prior
written consent (and any purported assignment without such consent will be null and void), is intended to be solely for the benefit of the parties hereto and is not intended to confer any benefits upon, or create any rights in favor of, any person
other than the parties hereto (and the Indemnified Parties). Each Commitment Party may assign its commitment hereunder, in whole or in part, to any of its affiliates. 
 Please indicate your acceptance of the terms of the Facilities set forth in this Commitment Letter and the Fee Letter by returning to us executed counterparts of this Commitment Letter and
the Fee Letter not later than 5:00 p.m. (New York City time) on April 27, 2011, whereupon the undertakings of the parties with respect to the Facilities shall become effective to the extent and in the manner provided hereby. This offer
shall terminate with respect to the Facilities if not so accepted by you at or prior to that time. Thereafter, all commitments and undertakings of the Commitment Parties hereunder will expire on the earliest of (a) January 20, 2012, unless
the Closing Date occurs on or prior thereto, (b) the closing of the Acquisition without the use of the Senior Credit Facilities and the Subordinated Bridge Facility, (c) the acceptance by the Acquired Business or any of its affiliates of
an offer for all or any substantial part of the capital stock or property and assets of the Acquired Business or any of its subsidiaries, other than as part of the Transaction, and (d) the termination of the Acquisition Agreement. If the
Closing Date occurs and the Senior Credit Facility and the Subordinated Bridge Loans (or the Subordinated Notes) are funded or issued, then the commitments of the Senior Bridge Lenders shall survive until the later of the Change of Control Purchase
Date (as defined in the indenture governing the Existing Senior Notes) and the expiration of the Change of Control Offer period in respect of the Put. 
 [The remainder of this page intentionally left blank.] 
 -10- 413 414 415 416 417 418 419 420 421 422 423 424 
 425 426 427 428 429 430 431 
 432 433 434 435 436

 437 438 439 440 441 442 443 444 445 446 447 448 449 450 451 

452 

 

 

  
 We are pleased
to have the opportunity to work with you in connection with this important financing. 
 Very truly yours,

 BANK OF AMERICA, N.A. 
 By: /s/ Michael Grimes 
 Name: Michael Grimes

 Title: Director 
 MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED 
  

By: /s/ Michael Grimes Name: Michael Grimes 

Title: Director 
 Signature Page to Commitment Letter 
 453 454

 455 
 456 
 457 458 459 

460 461 
 462 463 464 

 

 

  
 DEUTSCHE BANK
AG NEW YORK BRANCH 
 By: /s/ Sabrina Gill 

________________________________________ 
 Name: Sabrina Gill 
 Title: Director 

By: /s/ Enrique Landaeta 
 ________________________________________ 
 Name:
Enrique Landaeta 
 Title: Director 
 DEUTSCHE BANK SECURITIES INC.
 By: /s/ Nicholas
Hayes 
 ________________________________________ 

Name: 
 Title: Vice President 
 By: /s/ Manfred Affenzeller

 ________________________________________ 

Name: Manfred Affenzeller 
 Title: Director 
 Signature Page to Commitment
Letter 
 465 466 467 468 469 
 470 471 472 
 473 

474 
 475 476 477 
 478 479 480 

 

 

  
 CITIGROUP
GLOBAL MARKETS INC. 
 By /s/ Paul M. Burroughs Jr. 

__________________________ 
 Name: Paul M. Burroughs Jr. 
 Title: Managing
Director 
 Signature Page to Commitment Letter 

481 482 483 484 485 486 487 488 489 

 

 

  
 WELLS FARGO
SECURITIES, LLC 
 By: /s/ Jeffrey M. Foley 

Name: Jeffrey M. Foley 
 Title: Managing Director 
 WELLS FARGO BANK, N.A.
By: /s/ Tom Molitor Name: Tom Molitor Title: Director 
 Signature Page to Commitment Letter 

490 491 492 493 494 495 496 497 498 499 500 501 502 503 

 

 

  
 The provisions
of this Commitment Letter are accepted and agreed to as of the date first written above: 
 SILGAN HOLDINGS INC.

 By: /s/ Robert B. Lewis 
 Name: Robert B. Lewis 
 Title: Executive Vice
President and Chief Financial Officer 
 Signature Page to Commitment Letter 

504 505 
 506 
 507 508 509 

 

 

  

ANNEX I 
 SUMMARY OF TERMS AND CONDITIONS SENIOR CREDIT FACILITIES 
 Capitalized terms not otherwise defined herein have the same meanings as specified therefor in the Commitment Letter to which this Annex I is attached. In this Commitment Letter, including
the Annexes thereto, the phrase “substantially consistent with the provisions of the Existing Bank Credit Documentation” means substantially consistent with the senior bank credit agreement of Silgan as in effect on the date hereof (the
“Existing Bank Credit Agreement”) and the related credit and collateral documentation, in each case subject to modifications (i) reasonably determined by the Senior Joint Lead Arrangers in consultation with Silgan to be necessary in
order to ensure a Successful Syndication (as defined in the Fee Letter) of the Facilities, (ii) to reflect the Acquisition, the size of the business of Silgan and its subsidiaries pro forma for the Acquisition, the structure of the new senior
secured credit facilities, prevailing market conditions and the operational requirements of Silgan upon consummation of the Transaction as may be agreed to by the Senior Joint Lead Arrangers and Silgan and (iii) with such improvements in favor
of the Borrowers as may be agreed to by the Senior Joint Lead Arrangers and Silgan (it being understood that the provisions of Section 3 of the Fee Letter shall govern the modifications that may be made with respect to those terms that are the
subject of such Section 3). 
 Borrower: Silgan Holdings Inc. (“Silgan”), Silgan Containers LLC
(“Containers”), Silgan Plastics LLC (“Plastics”), Silgan Containers Manufacturing Corporation (“Manufacturing”), Silgan Can Company (“CanCo”), Silgan Plastics Canada Inc. (“Canada”) and such other
Revolving Borrowers (as defined below) as may be party to the credit agreement governing the Senior Credit Facilities (the “Credit Agreement”) from time to time, (together with Silgan, Containers, Plastics, Manufacturing, CanCo, Canada and
each other Revolving Borrower, the “Borrowers” and each individually, a “Borrower”). 

“Revolving Borrowers” means Containers, Plastics, CanCo, and one or more other wholly-owned subsidiaries of
Silgan approved by the Administrative Agent and on a basis substantially consistent with the provisions of the Existing Bank Credit Documentation. 
 Guarantors: Silgan, each other Borrower (except as provided below) and each other existing or newly created or acquired subsidiary of Silgan which is directly or indirectly owned by Silgan
(collectively, the “Credit Parties”) shall be required to provide an unconditional guaranty of all amounts owing under the Senior Credit Facilities, subject to exceptions substantially consistent with the provisions of the Existing Bank
Credit Documentation. Any special purpose subsidiary of Silgan formed to enter into a receivables securitization financing (such financing, the “Receivables Financing”) shall not be required to enter into any guaranty of the Senior Credit
Facilities, CanCo shall not be required to guaranty the obligations of the other Borrowers to the extent that the terms of the Campbell Can Acquisition Documents (as defined in the Existing Bank Credit Agreement) prohibit such a guaranty, no foreign
subsidiary of Silgan shall be required to guaranty the obligations of Silgan or any U.S. subsidiary of Silgan under the Senior Credit Facilities and guaran 
 Annex I-1 
 510 

511 512 
 513 514 515 516 517 518 519 520 521 522 523 524 525 526 
 527 528 529 530 531 532 533 534 535 
 536 537 538
539 
 540 541 542 543 544 545 546 547 548 549 550 551 552 553 554

 

 

  
 
ties by foreign subsidiaries of Silgan shall otherwise be provided on a basis substantially consistent with the provisions of the Existing Bank Credit Documentation. 

Co-Documentation Agents: Citigroup Global Markets Inc. (“CGMI”) and Wells Fargo Bank, N.A. (“Wells
Fargo”). 
 Administrative and 
 Collateral Agent: Deutsche Bank AG New York Branch (“DBNY”) will act as sole and exclusive administrative and collateral agent for the Senior Lenders (the “Administrative
Agent”). 
 Senior Joint Lead Arrangers 

And Senior Joint Bookrunning 
 Managers: Merrill Lynch, Pierce, Fenner & Smith Incorporated, Deutsche Bank Securities Inc., CGMI and Wells Fargo Securities, LLC will act as senior joint lead arrangers and
senior joint bookrunning managers for the Senior Credit Facilities (the “Senior Joint Lead Arrangers”). 
 Syndication Agent: Bank of America, N.A. (“Bank of America”). 
 Senior Lenders: Bank of America, DBNY, CGMI, Wells Fargo and other banks, financial institutions and institutional lenders selected by the Senior Joint Lead Arrangers in consultation with
Silgan. 
 Senior Credit Facilities: An aggregate principal amount of up to $4,000 million will be available
through the following facilities (it being understood and agreed that the Initial Senior Lenders and Silgan may mutually agree to change the allocation between the Term A Facility and the Term B Facility): 

Term A Facility: $900 million in term loan “A” facilities, all of which will be drawn on the Closing Date, in
U.S. Dollars with Silgan as Borrower, and in foreign currencies (including, without limitation, Euros, Pounds Sterling and Canadian Dollars) and with other Borrowers to be determined by mutual agreement of the Senior Joint Lead Arrangers and Silgan.

 Term B Facility: a $2,300 million term loan facility with Silgan as the borrower, all of which will be drawn
on the Closing Date (together with the Term A Facilities, the “Term Loan Facilities”). 
 Revolving
Credit Facility: an $800 million multicurrency revolving credit facility, available to Silgan and the other Revolving Borrowers (provided, that no more than $75 million of the Revolving Credit Facility may be utilized by CanCo) from time to time on
or after the Closing Date until the Revolving Credit Facility Maturity Date, and to include a sublimit to be determined for the issuance of standby and commercial letters of credit (each, a “Letter of Credit”) and a sublimit for swingline
loans (each, a “Swingline Loan”). Letters of Credit will be initially issued by Bank of America (in such capacity, the “Issuing Bank”), and each of the Senior Lenders under the Revolving Credit Facility will 

Annex I-2 
 555 556 557 
 558 559 560 561 562 563 564

 565 566 567 568 569 570 
 571 
 572 573 574 

575 576 577 578 
 579 580 581 582 583 584 
 585 586 587 

588 589 590 591 592 593 594 595 596 597 

 

 

  
 
purchase an irrevocable and unconditional participation in each Letter of Credit and each Swingline Loan. Letters of Credit may be issued on the Closing Date in order to backstop, roll over or
replace letters of credit outstanding under the existing credit facility of Silgan. Each Letter of Credit shall expire not later than the earlier of (a) 12 months after its date of issuance and (b) the business day immediately prior to
final maturity of the Revolving Credit Facility; provided that any Letter of Credit may provide for renewal thereof for additional periods of up to 12 months (which in no event shall extend beyond the date referred to in clause (b) above).

 Borrowings under the Revolving Credit Facility will be available in U.S. Dollars and other foreign currencies
(including, without limitation, Euros, Pounds Sterling and Canadian Dollars) to be determined on a basis substantially consistent with the provisions of the Existing Bank Credit Documentation; provided, however, that no more than $500 million
(determined on a U.S. Dollar equivalent basis) in the aggregate of the Revolving Credit Facility may be incurred in Euros and Pounds Sterling. 
 Swingline Option: Bank of America, N.A., in its capacity as the swingline lender, may make Swingline Loans available on a same day basis. Silgan must repay each Swingline Loan in full no
later than ten (10) business days after such loan is made. 
 Purpose: The proceeds of the borrowings under
the Senior Credit Facilities on the Closing Date, together with proceeds from the Notes or the Bridge Facilities, shall be used (i) to finance in part the Acquisition, (ii) to refinance in full the Existing Bank Credit Agreement of Silgan
and the existing senior bank credit agreement of the Acquired Business and (iii) to pay fees and expenses incurred in connection with the Transaction. The proceeds of the Revolving Credit Facility shall be used to provide ongoing working
capital and for other general corporate purposes of Silgan and its subsidiaries, including without limitation for permitted acquisitions. 
 Interest Rates: At the respective Borrower’s option, Loans denominated in U.S. Dollars may be maintained from time to time as (x) Base Rate Loans, which shall bear interest at
the Base Rate in effect from time to time plus the Applicable Margin (as defined below) or (y) Eurodollar Loans, which shall bear interest at the Eurodollar Rate (adjusted for maximum reserves) as determined by the Administrative Agent for the
respective interest period plus the Applicable Margin. “Base Rate”, “B/A Discount Rate”, “Canadian Prime Rate”, “Eurodollar Rate” and “Euro Rate” will be defined and calculated on a basis
substantially consistent with the provisions of the Existing Credit Documentation; provided that (i) Base Rate will be deemed to be not less than 100 basis points higher than the one-month Eurodollar Rate, and (ii) with respect to the Term
B Facility, the Eurodollar Rate will be deemed to be not less than 1.00% per annum. 
 Annex I-3 

598 599 600 601 602 603 604 605 606 607 
 608 609 610 611 612 613 614 615 
 616 617 618 619

 620 621 622 623 624 625 626 627 628 629 

630 631 632 633 634 635 636 637 638 639 640 641 642 643 

 

 

  

“Applicable Margin” means (a) with respect to the Term A Facility and the Revolving Credit Facility,
2.50% per annum, in the case of Euro Rate Loans and B/A Discount Rate Loans, and 1.50% per annum, in the case of Base Rate Loans or Canadian Prime Rate Loans, or in each case such lesser percentage as shall be set forth in a pricing grid
to be agreed, and (b) with respect to the Term B Facility, 3.25% per annum, in the case of Euro Rate Loans and B/A Discount Rate Loans, and 2.25% per annum, in the case of Base Rate Loans or Canadian Prime Rate Loans. 

Each Swingline Loan shall bear interest at the Base Rate plus the Applicable Margin for Base Rate loans under the
Revolving Credit Facility. 
 Silgan may select interest periods of one, two, three or six months (and, to the
extent available to all Lenders with obligations in respect of the applicable tranche of Loans, twelve-months or a period of less than one month) for Euro Rate advances. Interest shall be payable at the end of the selected interest period, but no
less frequently than quarterly. 
 Overdue principal and, to the extent permitted by law, (i) overdue
interest in respect of each Loan and any other overdue amount shall bear interest at a rate per annum equal to the greater of (x) the rate which is 2% in excess of the rate otherwise applicable to Base Rate Loans maintained pursuant to the
respective tranche from time to time and (y) the rate which is 2% in excess of the rate then borne by the applicable Loans and (ii) all other overdue amounts payable under this Agreement or under any other Credit Document shall bear
interest at a rate per annum which is 2% in excess of the rate applicable to Base Rate Loans under the Revolving Credit Facility. Default interest shall be payable on demand. 
 Commitment Fee: Commencing on the Closing Date, a commitment fee of 0.50% per annum (calculated on a 360-day basis) shall be payable on the actual daily unused portions of the
Revolving Credit Facility, such fee to be payable quarterly in arrears and on the date of termination or expiration of the commitments. Swingline Loans will not be considered utilization of the Revolving Credit Facility for purposes of this
calculation. 
 Calculation of Interest 
 and Fees: All interest and commitment commission and other fee calculations shall be based on a 360-day year and actual days elapsed for all fees and Loans other than Base Rate Loans
determined by reference to the prime lending rates, which shall be based on a 365 or 366 day year, as applicable, and actual days elapsed. 
 Cost and Yield Protection: Customary for transactions and facilities of this type, including, without limitation, in respect of breakage or redeployment costs incurred in connection with
prepayments, changes in capital adequacy and capital requirements or their interpretation, illegality, unavailability, reserves 
 Annex I-4 
 644 645 646 647 648 649 650 651 652

 653 654 655 
 656 657 658 659 660 
 661 662 663 664 665 666 667
668 669 670 671 
 672 673 674 675 676 677 

678 679 680 681 682 683 
 684 685 686 687 

 

 

  
 
without proration or offset and payments free and clear of withholding or other taxes. 
 Letter of Credit Fees: Letter of Credit fees equal to the Applicable Margin from time to time on LIBOR advances under the Revolving Credit Facility on a per annum basis will be payable
quarterly in arrears and shared proportionately by the Senior Lenders under the Revolving Credit Facility. In addition, a fronting fee equal to the greater of (x) US$500 per annum and (y) 0.25% per annum will be payable to the Issuing
Bank for its own account, as well as customary issuance and documentary fees. Both the Letter of Credit fees and the fronting fees will be calculated on the amount available to be drawn under each outstanding Letter of Credit. 

Maturity: Term A Facility Maturity Date: 6 years after the Closing Date, provided that if the existing senior notes of
Silgan due 2016 or the existing senior notes of the Acquired Business due 2017 have not been refinanced in full on or before July 7, 2016, then the Term A Facility will mature on such date. 

Term B Facility Maturity Date: 7 years after the Closing Date. 

Revolving Credit Facility Maturity Date: 5 years after the Closing Date. 

Incremental Facilities: The Credit Documentation will permit Silgan to add one or more incremental term loan facilities to
the Credit Facilities (each, an “Incremental Term Facility”) and/or increase commitments under the Revolving Credit Facility (any such increase, an “Incremental Revolving Facility”; the Incremental Term Facilities and the
Incremental Revolving Facilities are collectively referred to as “Incremental Facilities”) in an aggregate amount of up to US$750 million; provided that (i) no Lender will be required to participate in any such Incremental Facility,
(ii) no event of default or default exists or would exist after giving effect thereto, (iii) the representations and warranties in the Credit Documentation shall be true and correct in all material respects, (iv) on a pro forma basis
on the date of incurrence and after giving effect thereto (assuming, in the case of an Incremental Revolving Facility, the full drawing thereunder), all financial covenants would be satisfied, (v) the maturity date of any such Incremental Term
Facility shall be no earlier than the maturity date for the Term B Facility, (vi) the weighted average life to maturity of any Incremental Term Facility shall be no shorter than the weighted average life to maturity of the Term B Facility,
(vii) the interest margins for the Incremental Term Facility shall be determined by Silgan and the lenders of the Incremental Term Facility; provided, that in the event that the interest margins for any Incremental Term Facility are greater
than the Applicable Margins for the Term B Facility by more than 0.50%, then the Applicable Margins for the Term B Facility shall be increased to the extent necessary so that the interest margins for the Incremental Term Facility are not more than
0.50% 
 Annex I-5 
 688 689 
 690 691 692 693 694 695 696 697 698

 699 700 701 702 703 
 704 
 705 706 

707 
 708 709 710 711 712 713 714 715 716 717 718 719 720 721 722 723 724 725 726 727 728 729 730 731 732 

 

 

  
 
higher than the Applicable Margins for the Term B Facility, and the Applicable Margins for the Revolving Credit Facility and the Term A Facility shall be increased by a like amount; provided,
further, that in determining the interest margins applicable to the Term B Facility and the Applicable Margins for the Incremental Term Facility, (x) original issue discount (“OID”) or upfront fees (which shall be deemed to constitute
like amounts of OID) payable by the applicable Borrower for the account of the Lenders of the Term B Facility or the Incremental Term Facility in the primary syndication thereof shall be included (with OID being equated to interest based on an
assumed four-year life to maturity), (y) customary arrangement or commitment fees payable to the Senior Joint Lead Arrangers (or their affiliates) in connection with the Term B Facility or to one or more arrangers (or their affiliates) of the
Incremental Term Facility shall be excluded, and (z) if the LIBOR or Base Rate floor for the Incremental Term Facility is greater than the LIBOR or Base Rate floor, respectively, for the existing Term B Facility, the difference between such
floor for the Incremental Term Facility and the existing Term B Facility shall be equated to an increase in the Applicable Margin for purposes of this clause (vii), (viii) any Incremental Facility shall be available to only such Borrowers and
in such currencies as may be permitted pursuant to provisions of the Credit Documentation that shall be substantially consistent with the provisions of the Existing Bank Credit Documentation, and (ix) any Incremental Facility shall be subject
to terms, conditions, and limitations consistent with the provisions of the Existing Bank Credit Documentation. 

Scheduled Amortization: Term Loan Facilities: The Term A Facility will be subject to annual amortization, commencing
December 31, 2013, of principal in amounts to be agreed. The Term B Facility will be subject to annual amortization, commencing December 31, 2012, of principal equal to 1.0% of the original aggregate principal amount of the Term B
Facility, with the balance payable at final maturity (collectively, the “Scheduled Amortization”). 

Revolving Credit Facility: None. 
 Annex I-6 
 733 734 735 736 737 738 739 740 741 742
743 744 745 746 747 748 749 750 751 752 753 754 755 756 757 
 758 759 760 761 762 763 764 

765 

 

 

  
 Mandatory
Prepayments 
 and Commitment Reductions: In addition to the amortization set forth above, the Credit Agreement
will contain provisions regarding mandatory prepayments and commitment reductions substantially consistent with the provisions of the Existing Bank Credit Documentation. All such proceeds thereunder shall be applied to the prepayment of (and
permanent reduction of the commitments under) the Senior Credit Facilities in the following manner: first, between the Term Loan Facilities on a pro rata basis, to be applied as to each Term Loan Facility, first to the next annual amortization
payment due December 31 (in the case of prepayments of the Term A Facility) or to the next succeeding four quarterly amortization payments (in the case of prepayments of the Term B Facility) and the balance, if any, ratably to the remaining
principal repayment installments of such Term Loan Facilities and, second, to the Revolving Credit Facility. 

Optional Prepayments and 
 Commitment Reductions: The Senior Credit Facilities may be prepaid voluntarily in whole or in part at any time pursuant to provisions of the Credit Agreement substantially consistent with
the provisions of the Existing Bank Credit Documentation, without prepayment premium other than the Repricing Fee as defined below. 
 Repricing Fee: If on or before the first anniversary of the Closing Date, any (i) amendment, amendment and restatement or other modification of the Credit Agreement is consummated
which reduces the Applicable Margin with respect to some or all of the Term Loan B or (ii) any voluntary prepayment of some or all of the Term Loan B with the proceeds of a substantially concurrent issuance or incurrence of indebtedness bearing
interest with an “effective yield” (taking into account, for example, upfront fees, interest rate spreads, interest rate benchmark floors and original issue discount) less than the “effective yield” applicable to the Term Loan B
(as such comparative yields are determined by the Administrative Agent) (even if all or a portion of the Term Loan B is replaced, converted or re-evidenced with, into or by such new indebtedness) is consummated (any such transaction or event
described in (i) or (ii) above, a “Price Reduction”), then, simultaneously with the consummation of such Price Reduction, Silgan shall pay to the Lenders holding any of the Term Loan B (which shall include any non-consenting
Lender that is required to assign its Loan in pursuant to any “yank-a-bank” provisions in connection with any such Price Reduction, but which shall not include the assignee of any such non-consenting Lender) a fee (the “Repricing
Fee”) in an amount equal to 1.0% of the aggregate principal amount of the Term Loan B so repriced or refinanced in such Price Reduction (such Repricing Fee to be allocated pro rata in accordance with the aggregate amount of Term Loan B of each
such Lender so repriced or refinanced). 
 Security: The Senior Credit Facilities (and all obligations under the
Guarantees) shall be secured by a first priority perfected security interest in all of the following (the “Collateral”): (x) all stock, other equity interests and promissory notes owned by Silgan and the Guarantors, provided, how

 Annex I-7 
 766 767 768 769 770 771 772 773 774 775 776 777 778 779 780 781 782 783 784 785 786 
 787 788 789 790 791 792 793 794 795 796 797 798 799 800 801 802 803 804 805 806 807 808 809 810 
 811 812 813 814 

 

 

  
 
ever, that (i) not more than 65% of the total outstanding voting stock of any non-U.S. subsidiary of Silgan shall be required to be pledged to support the obligations of a Borrower organized
in the United States and (ii) the equity interests in any entity that is not a subsidiary of Silgan shall not be required to be pledged to the extent that the terms of the respective joint venture agreements prohibit such a pledge and
(y) all other tangible and intangible assets (including receivables, contract rights, securities, patents, trademarks, other intellectual property, inventory and equipment) owned by the Silgan and the Guarantors, in each case in a manner, and
subject to exceptions, substantially consistent with the provisions of the Existing Bank Credit Documentation (including with respect to receivables and related assets sold as part of the Receivables Financing). 

Conditions Precedent 
 to Closing: Those specified in the Funding Conditions. 
 Conditions Precedent to 
 Each Borrowing Under the

 Senior Credit Facilities: Each borrowing or issuance or renewal of a Letter of Credit (other than those on the
Closing Date) under the Senior Credit Facilities will be subject to satisfaction of conditions precedent substantially consistent with the provisions of the Existing Bank Credit Documentation. 

Representations and 
 Warranties: Substantially consistent with the provisions of the Existing Bank Credit Documentation. 
 Covenants: Affirmative and Negative Covenants: substantially consistent with the provisions of the Existing Bank Credit Documentation, provided that the restricted payment basket will be
set at the level in effect on the closing date of the Existing Bank Credit Documentation and will not be reduced by restricted payments made pursuant thereto after such closing date and prior to the date of the Commitment Letter. 

Financial Covenants: To include the following: 
 • Maintenance of a minimum Interest Coverage Ratio (defined in a manner substantially consistent with the provisions of the Existing Bank Credit Documentation); and 

• Maintenance of a maximum Total Leverage Ratio (defined in a manner substantially consistent with the provisions of
the Existing Bank Credit Documentation). 
 All of the financial covenants will be calculated on a consolidated
basis and for each consecutive four fiscal quarter period, and pursuant to definitions and provisions substantially consistent with the provisions of the Existing Bank Credit Documentation. 

Annex I-8 
 815 816 817 818 819 820 821 822 823 824 825 826 827 

828 829 
 830 831 832 833 834 835 
 836 837 838 

839 840 841 842 843 844 
 845 
 846 847 848 

849 850 851 
 852 853 854 855 

 

 

  
 Interest Rate
Protection: Silgan shall obtain interest rate protection with one or more Lenders or Senior Joint Lead Arrangers or affiliates thereof for a notional amount and otherwise on terms to be agreed in the Credit Documentation. 

Events of Default: Substantially consistent with the provisions of the Existing Bank Credit Documentation. 

Unrestricted Subsidiaries: Silgan will be permitted to designate one or more existing or subsequently acquired or
organized subsidiaries as “unrestricted subsidiaries” pursuant to provisions and subject to limitations and conditions substantially consistent with the provisions of the Existing Bank Credit Documentation. 

Assignments and 
 Participations: Each Senior Lender will be permitted to sell participations and to make assignments in minimum amounts to be agreed, subject to limitations, approval rights, and
restrictions substantially consistent with the provisions of the Existing Bank Credit Documentation. 

Assignments to Silgan and subsidiaries of Silgan shall not be permitted. 

Waivers and Amendments: Amendments and waivers of the provisions of the Credit Documentation will be subject to provisions
substantially consistent with the provisions of the Existing Bank Credit Documentation, including without limitation provisions relating to the voting rights of Defaulting Lenders and tranche voting for certain matters. 

Indemnification: Silgan will indemnify and hold harmless the Administrative Agent, the Senior Syndication Agent, each
Senior Joint Lead Arranger and each Senior Joint Bookrunning Manager, each Senior Lender and each of their affiliates and their officers, directors, employees, agents and advisors from and against all losses, liabilities, claims, damages or expenses
arising out of or relating to the Transaction, the Senior Credit Facilities, Silgan’s use of loan proceeds and the commitments, including, but not limited to, reasonable attorneys’ fees and settlement costs. This indemnification shall
survive and continue for the benefit of all such persons or entities, notwithstanding any failure of the Senior Credit Facilities to close. 
 Governing Law: New York. 
 Expenses: Silgan will
pay all reasonable costs and expenses associated with the preparation, due diligence, administration, syndication and enforcement of all Credit Documentation, including, without limitation, the legal fees and expenses of a single law firm as counsel
to the Administrative Agent and Senior Joint Lead Arrangers and of any local counsel, regardless of whether or not the Senior Credit Facilities are closed. Silgan will also pay the expenses of each Senior Lender in connection with the enforcement of
any of the Credit Documentation related to the Senior Credit Facilities. 
 Annex I-9 

856 857 858 
 859 860 
 861 862 863 864 865 

866 867 868 869 870 
 871 
 872 873 874 875 876 

877 878 879 880 881 882 883 884 885 886 887 
 888 
 889 890 891 892 893 894 895 896 897

 

 

  
 Counsel to the

 Senior Lead Arrangers: White & Case LLP 

Miscellaneous: Each of the parties shall (i) waive its right to a trial by jury and (ii) submit to New York
jurisdiction. 
 Annex I-10 
 898 899 
 900 901 

 

 

  

ANNEX II-A 
 SUMMARY OF TERMS AND CONDITIONS SENIOR BRIDGE LOANS 

Capitalized terms not otherwise defined herein have the same meanings as specified therefor in the Commitment Letter to
which this Annex II-A is attached. 
 Borrower: Silgan Holdings Inc. (“Silgan”). 

Guarantors: Same subsidiaries of Silgan as the subsidiary guarantors of obligations of Silgan under the Senior Credit
Facilities. 
 Administrative Agent: Bank of America, N.A. or an affiliate thereof will act as sole and exclusive
administrative agent for the Bridge Lenders (the “Administrative Agent”). 
 Sole Lead Arranger and
Sole 
 Bookrunning Manager: Merrill Lynch, Pierce, Fenner & Smith Incorporated (“Merrill
Lynch”) will act as sole and exclusive lead arranger and sole and exclusive bookrunning manager for the Bridge Loans (in such capacity, the “Bridge Lead Arranger”). 

Bridge Lenders: Bank of America, N.A. or an affiliate thereof (“Bank of America”; or the “Initial Bridge
Lender”) and other financial institutions and institutional lenders selected by the Bridge Lead Arranger in consultation with Silgan (the “Bridge Lenders”). 
 Bridge Loans: Up to $500 million of senior unsecured bridge loans (the “Senior Bridge Loans”), less the aggregate gross proceeds of Notes or any other debt other than the
Facilities or disqualified equity securities of the Companies issued on or prior to the date of redemption in connection with the Change of Control Offer. 
 Ranking: The Senior Bridge Loans will be senior unsecured obligations of Silgan and rank pari passu in right of payment with or senior to all other unsecured obligations of Silgan. The
guarantees will be senior unsecured obligations of each Guarantor, ranking pari passu in right of payment with or senior to all other unsecured obligations of such Guarantor. 
 Security: None. 
 Purpose: The Senior Bridge
Facility will be available to purchase Existing Senior Notes tendered in the Change of Control Offer. The proceeds of the Senior Bridge Facility shall be used solely to repurchase Existing Senior Notes. 

Interest Rate: Interest shall be payable quarterly in arrears at a rate per annum equal to one-month LIBOR plus the
Applicable Margin. 
 Annex II-A-1 
 902 
 903 904 

905 906 
 907 
 908 909 

910 911 912 
 913 914 915 916 917 
 918 919 920 921 

922 923 924 925 926 
 927 928 929 930 931 
 932 

933 934 935 936 
 937 938 

 

 

  

“Applicable Margin” shall initially be 550 basis points and will increase by an additional 50 basis points at
the end of each subsequent three-month period for as long as the Senior Bridge Loans are outstanding; provided that the interest rate shall not exceed the Senior Total Cap (as defined in the Fee Letter). 

“LIBOR” shall be deemed to be not less than 1.50% per annum. 

During the continuance of an event of default or a payment default, interest will accrue on the principal of the Senior
Bridge Loans and on any other outstanding amount at a rate of 200 basis points in excess of the rate otherwise applicable to the Senior Bridge Loans (except that following the Senior Rollover Date (as defined below), interest on the Senior Bridge
Loans will accrue at a per annum rate equal to 200 basis points in excess of the Senior Total Cap), and will be payable on demand. 
 All calculations of interest shall be made on the basis of actual number of days elapsed in a 360-day year. 
 Cost and Yield Protection: Customary for transactions and facilities of this type, including, without limitation, in respect of breakage or redeployment costs incurred in connection with
prepayments, changes in capital adequacy and capital requirements or their interpretation, illegality, unavailability, reserves without proration or offset and payments free and clear of withholding or other taxes. 

Amortization: None. 
 Optional Prepayments: The Senior Bridge Loans may be prepaid prior to the first anniversary of the Closing Date (the “Senior Rollover Date”), without premium or penalty, in whole
or in part, upon written notice, at the option of Silgan, at any time, together with accrued interest to the prepayment date. 
 Mandatory Prepayments: Silgan shall prepay the Senior Bridge Loans without premium or penalty and offer to purchase Senior Exchange Notes at the premium for optional redemptions set forth
in Annex II-C (on a pro rata basis) together with accrued interest to the prepayment or purchase date, with (a) all net cash proceeds from (i) sales of property and assets of Silgan or any of its subsidiaries (including sales or issuances
of equity interests by subsidiaries of Silgan but excluding sales of inventory in the ordinary course of business and other exceptions and baskets usual and customary for financings of this type to be agreed), and (ii) insurance, casualty or
condemnation receipts payable upon the occurrence of certain recovery events, in each case, subject to minimum amounts and reinvestment rights to be agreed, (b) all net cash proceeds from the issuance or incurrence after the Closing Date of
additional debt of Silgan or any of its subsidiaries other than the Facilities and certain debt permitted under the Credit Documentation, and (c) 25% of all net cash proceeds from any issuance of equity interest by, or equity contribution to,
Silgan, subject to exceptions to be agreed. Silgan’s obligation to pre pay Senior 
 Annex II-A-2

 939 940 941 942 943 
 944 
 945 946 947 948 949 950 951 952 

953 954 
 955 956 957 958 959 960 
 961 

962 963 964 965 
 966 967 968 969 970 971 972 973 974 975 976 977 978 979 980 981 982 

 

 

  
 
Bridge Loans and purchase Senior Exchange Notes shall be deemed to be satisfied with respect to clause (a) above on a dollar-for-dollar basis to the extent of amounts applied to repay loans
under (i) the Term Loan Facilities or (ii) the Revolving Credit Facility to the extent accompanied by a permanent reduction in commitments thereunder. 
 Change of Control: In the event of a Change of Control (to be defined, but no more restrictive than as set forth in the Existing Bank Credit Agreement), each Bridge Lender will have the
right to require Silgan, and Silgan must offer, to prepay the outstanding principal amount of the Senior Bridge Loans at a price equal to 101% of the principal amount thereof, plus accrued and unpaid interest thereon to the date of prepayment. Prior
to making any such offer, Silgan will, within 30 days of the Change of Control, repay all obligations under the Senior Credit Facilities or obtain any required consent of the Senior Lenders under the Senior Credit Facilities to make such prepayment
of the Senior Bridge Loans. 
 Conversion into Rollover 

Loans: If the Senior Bridge Loans have not been previously prepaid in full for cash on or prior to the Senior Rollover
Date, the principal amount of the Senior Bridge Loans outstanding on the Senior Rollover Date may, subject to the conditions precedent set forth in Annex II-B, be converted into unsecured, senior rollover loans with a maturity of eight years from
the Closing Date and otherwise having the terms set forth in Annex II-B (the “Senior Rollover Loans”). Any Senior Bridge Loans not converted into Senior Rollover Loans shall be repaid in full on the Senior Rollover Date. 

Exchange into 
 Exchange Notes: Each Bridge Lender that is (or will immediately transfer its Exchange Notes to) an Eligible Holder (as defined in Annex II-C) will have the right, at any time on or
after the Senior Rollover Date, to exchange Senior Rollover Loans held by it for unsecured senior exchange notes of Silgan having the terms set forth in Annex II-C (the “Senior Exchange Notes”). Notwithstanding the foregoing, Silgan will
not be required to exchange Senior Rollover Loans for Senior Exchange Notes unless at least $50.0 million of Senior Exchange Notes would be outstanding immediately after such exchange. In connection with each such exchange, or at any time prior
thereto if requested by the Initial Bridge Lender, Silgan shall (i) deliver to the Bridge Lender that is receiving Senior Exchange Notes, and to such other Bridge Lenders as the Initial Bridge Lender requests, an offering memorandum of the type
customarily utilized in a Rule 144A offering of high yield securities covering the resale of such Senior Exchange Notes or Senior Bridge Loans by such Bridge Lenders, in such form and substance as reasonably acceptable to Silgan and the Initial
Bridge Lender, and keep such offering memorandum updated in a manner as would be required pursuant to a customary Rule 144A securities purchase agreement, (ii) execute an exchange agreement containing provisions customary in Rule 144A
transactions (including indemnification provisions) and a registration rights agreement customary in Rule 144A offerings, in each case, if re 
 Annex II-A-3 
 983 984 985 986 987 

988 989 990 991 992 993 994 995 996 997 
 998 999 1000 1001 1002 1003 1004 1005 1006 1007 

1008 1009 1010 1011 1012 1013 1014 1015 1016 1017 1018 1019 1020 1021 1022 1023 1024 1025 1026 1027 1028 1029 1030

 

 

  
 
quested by the Initial Bridge Lender, (iii) deliver or cause to be delivered such opinions and accountants’ comfort letters addressed to the Initial Bridge Lender and such certificates
as the Initial Bridge Lender may request as would be customary in Rule 144A offerings and otherwise in form and substance reasonably satisfactory to the Initial Bridge Lender and (iv) take such other actions, and cause its advisors, auditors
and counsel to take such actions, as reasonably requested by the Initial Bridge Lender in connection with issuances or resales of Senior Exchange Notes or Senior Bridge Loans, including providing such information regarding the business and
operations of Silgan and its subsidiaries as is reasonably requested by any prospective holder of Senior Exchange Notes or Senior Bridge Loans and customarily provided in due diligence investigations in connection with purchases or resales of
securities. 
 Conditions Precedent: Those specified in the Funding Conditions. 

Covenants: Negative covenants that are customary for high yield debt securities of issuers of similar size and credit
quality, including compliance with the Fee Letter, as reasonably determined by the Bridge Lead Arranger in light of prevailing market conditions and other circumstances and substantially similar with, and no more restrictive than, the covenants
contained in the existing Silgan high yield indentures with such changes to be agreed based on prevailing market conditions and the operational requirements of Silgan upon consummation of the Transaction, and with such improvements to reflect the
size of the business of Silgan and its subsidiaries pro forma for the Acquisition; provided that the restricted payments basket will be set at the level in effect on the closing date of the existing Silgan high yield indentures and will not be
reduced by restricted payments made pursuant thereto after such closing date and prior to the date of the Commitment Letter. 
 Representations and 
 Warranties, Events of

 Default, Waivers and 
 Consents: Usual and customary for a transaction of this type, and others deemed reasonably appropriate by the Bridge Lead Arranger, including (without limitation) provisions no more
restrictive than those contained in the Senior Credit Facilities. 
 Assignments and 

Participations: Each Bridge Lender will be permitted to make assignments in minimum amounts to be agreed to other entities
approved by the Administrative Agent, which approval shall not be unreasonably withheld or delayed; provided, however, that no such approval shall be required in connection with assignments to other Bridge Lenders or any of their affiliates. Each
Bridge Lender will also have the right, without any consent, to assign as security all or part of its rights under the Credit Documentation to any Federal Reserve Bank. Bridge Lenders will be permitted to sell participations with voting rights
limited to significant matters such as changes in amount, rate and maturity date. An assign 
 Annex II-A-4

 1031 1032 1033 1034 1035 1036 1037 1038 1039 1040 1041 1042 1043 1044 

1045 
 1046 1047 1048 1049 1050 1051 1052 1053 1054 1055 1056 1057 1058 1059 
 1060 1061 1062 1063 1064 1065 1066 
 1067 1068 1069
1070 1071 1072 1073 1074 1075 1076 1077 

 

 

  
 
ment fee in the amount of $3,500 will be charged to the assignee with respect to each assignment unless waived by the Administrative Agent in its sole discretion. 

If the Initial Bridge Lender makes an assignment of Senior Bridge Loans at a price less than par, the assignment agreement
may provide that, upon any repayment or prepayment of such Senior Bridge Loans with the proceeds of an issuance of securities of Silgan or any of its subsidiaries in which the Initial Bridge Lender or an affiliate thereof acted as underwriter or
initial purchaser (an “Applicable Offering”), (i) Silgan shall pay the holder of such Senior Bridge Loans the price set forth in the assignment agreement as the price (which may be the price at which the Initial Bridge Lender assigned
such Senior Bridge Loans but in any event may not be greater than par) at which the holder of such Senior Bridge Loans will be repaid by Silgan with the proceeds of an Applicable Offering (the “Agreed Price”) and (ii) Silgan shall pay
the Initial Bridge Lender the difference between par and the Agreed Price. Such payments by Silgan shall be in full satisfaction of such Senior Bridge Loans in the case of a repayment or prepayment with proceeds of an Applicable Offering. For the
avoidance of doubt, the repayment by Silgan of the Senior Bridge Loans shall not exceed par and the provisions of this paragraph do not apply to any repayments or prepayments other than with proceeds of an Applicable Offering. 

Governing Law: New York. 
 Indemnification and 
 Expenses: Same as the Senior
Credit Facilities. 
 Counsel to Bridge Lead 
  
 Arranger: Latham & Watkins LLP. 

Annex II-A-5 
 1078 1079 1080 
 1081 1082 1083 1084 1085 1086 1087
1088 1089 1090 1091 1092 1093 1094 1095 1096 1097 1098 1099 
 1100 

1101 1102 
 1103 1104 

 

 

  

ANNEX II-B 
 SUMMARY OF TERMS AND CONDITIONS SENIOR ROLLOVER LOANS 
 Capitalized terms not otherwise defined herein have the same meanings as specified therefor in the Commitment Letter to which this Annex II-B is attached. 

Borrower: Silgan. 
 Guarantors: Same as the Senior Bridge Loans. 

Rollover Loans: Senior Rollover Loans in an initial principal amount equal to 100% of the outstanding principal amount of
the Senior Bridge Loans on the Senior Rollover Date. Subject to the conditions precedent set forth below, the Senior Rollover Loans will be available to Silgan to refinance the Senior Bridge Loans on the Senior Rollover Date. The Senior Rollover
Loans will be governed by the Credit Documentation for the Senior Bridge Loans and, except as set forth below, shall have the same terms as the Senior Bridge Loans. 
 Ranking: Same as Senior Bridge Loans. 
 Interest
Rate: Interest shall be payable quarterly in arrears at a rate per annum equal to the Senior Total Cap. 
 During
the continuance of an event of default or a payment default, interest will accrue on the principal of the Senior Rollover Loans and on any other outstanding amount at a rate of 200 basis points in excess of the rate otherwise applicable to the
Senior Rollover Loans, and will be payable on demand. 
 All calculations of interest shall be made on the basis
of actual number of days elapsed in a 360-day year. 
 Maturity: Eight years after the Closing Date (the
“Senior Rollover Maturity Date”). 
 Optional Prepayments: For so long as the Senior Rollover Loans
have not been exchanged for Senior Exchange Notes of Silgan as provided in Annex II-C, they may be prepaid at the option of Silgan, in whole or in part, at any time, together with accrued and unpaid interest to the prepayment date (but without
premium or penalty). 
 Conditions Precedent to 

Rollover: The ability of Silgan to convert any Senior Bridge Loans into Senior Rollover Loans is subject to the following
conditions being satisfied: 

	 	 (i)
	  
	 at the time of any such refinancing, there shall exist no event of default or event that, with notice and/or
lapse of time, could become an event of default, and there shall be no failure to 

 Annex
II-B-1 
 1105 
 1106 1107 
 1108 1109 

1110 
 1111 
 1112 1113 1114 1115 1116 1117 1118 1119

 1120 
 1121 1122 
 1123 1124 1125 1126 1127 

1128 1129 
 1130 1131 
 1132 1133 1134 1135 1136 

1137 1138 1139 
 1140 1141 1142 

 

 

  
 
comply with the Take-out Demand (as defined in the Fee Letter); 
 (ii) all fees due to the Bridge Lead Arranger and the Initial Bridge Lender shall have been paid in full; 
 (iii) the Bridge Lenders shall have received promissory notes evidencing the Senior Rollover Loans (if requested) and such other documentation as shall be set forth in the Credit
Documentation; and 
 (iv) no order, decree, injunction or judgment enjoining any such refinancing shall be in
effect. 
 Covenants: From and after the Senior Rollover Date, the covenants applicable to the Senior Rollover
Loans will conform to those applicable to the Exchange Notes, except for covenants relating to the obligation of Silgan to refinance the Senior Rollover Loans and others to be agreed. 

Assignments and 
 Participations: Same as the Senior Bridge Loans. 

Governing Law: New York. 
 Indemnification and 
 Expenses: Same as the Senior
Bridge Loans. 
 Annex II-B-2 
 1143 1144 
 1145 1146 

1147 1148 1149 1150 
 1151 1152 
 1153 1154 1155 1156 

1157 1158 
 1159 
 1160 1161 

 

 

  

ANNEX II-C 
 SUMMARY OF TERMS AND CONDITIONS SENIOR EXCHANGE NOTES 
 Capitalized terms not otherwise defined herein have the same meanings as specified therefor in the Commitment Letter to which this Annex II-C is attached. 

Issuer: Silgan. 
 Guarantors: Same as the Senior Bridge Loans. 

Exchange Notes: Silgan will issue the Senior Exchange Notes under an indenture that complies with the Trust Indenture Act
of 1939, as amended (the “Indenture”). Silgan will appoint a trustee reasonably acceptable to the holders of the Senior Exchange Notes. The Indenture will include provisions customary for an indenture governing publicly traded high yield
debt securities and substantially similar with, and no more restrictive than, the covenants contained in the existing Silgan high yield indentures with such changes to be agreed based on prevailing market conditions and the operational requirements
of Silgan upon consummation of the Transaction; provided that the restricted payments basket will be set at the level in effect on the closing date of the existing Silgan high yield indenture and will not be reduced by restricted payments made
pursuant thereto after such closing date and prior to the date of the Commitment Letter. Except as expressly set forth above, the Senior Exchange Notes shall have the same terms as the Senior Rollover Loans. 

Ranking: Same as the Senior Bridge Loans. 
 Security: None. 
 Interest Rate: Interest shall be
payable quarterly in arrears at a per annum rate equal to the Senior Total Cap. 
 During the continuance of an
event of default or a payment default, interest will accrue on the principal of the Senior Exchange Notes and on any other outstanding amount at a rate of 200 basis points in excess of the rate otherwise applicable to the Senior Exchange Notes, and
will be payable on demand. 
 Maturity: Same as the Senior Rollover Loans. 

Amortization: None. 
 Optional Redemption: Until the fourth anniversary of the Closing Date, the Exchange Notes will be redeemable at a customary “make-whole” premium calculated using a discount rate
equal to the yield on comparable Treasury securities plus 50 basis points. Thereafter, the Exchange Notes will be redeemable at the option of the Issuer at a premium equal to 50% of the 

Annex II-C-1 
 1162 
 1163 1164 

1165 1166 
 1167 
 1168 

1169 1170 1171 1172 1173 1174 1175 1176 1177 1178 1179 1180 1181 1182 1183 

1184 
 1185 
 1186 1187 

1188 1189 1190 1191 1192 
 1193 
 1194 

1195 1196 1197 1198 1199 

 

 

  
 
coupon on the Exchange Notes, declining ratably to par on the date which is one year prior to the Rollover Maturity Date. 
 In addition, Senior Exchange Notes will be redeemable at the option of the Issuer prior to the third anniversary of the Closing Date with the net cash proceeds of qualified equity
offerings of Silgan that are contributed to the Issuer at a premium equal to the coupon on the Senior Exchange Notes; provided that after giving effect to such redemption at least 65% of the aggregate principal amount of Senior Exchange Notes
originally issued shall remain outstanding. 
 Mandatory 

Offer to Purchase: The Issuer will be required to offer to purchase the Senior Exchange Notes upon a Change of Control (to
be defined, but no more restrictive than as set forth in the Existing Bank Credit Agreement) at 101% of the principal amount thereof plus accrued interest to the date of purchase. 

Right to Transfer 
 Exchange Notes: Each holder of Senior Exchange Notes shall have the right to transfer its Senior Exchange Notes in whole or in part, at any time to an Eligible Holder and, after the Senior
Exchange Notes are registered pursuant to the provisions described under “Registration Rights”, to any person or entity; provided that if the Issuer or any of its affiliates holds Senior Exchange Notes, such Senior Exchange Notes shall be
disregarded in any voting. “Eligible Holder” will mean (a) an institutional “accredited investor” within the meaning of Rule 501 under the Securities Act, (b) a “qualified institutional buyer” within the
meaning of Rule 144A under the Securities Act, (c) a person acquiring the Senior Exchange Notes pursuant to an offer and sale occurring outside of the United States within the meaning of Regulation S under the Securities Act or (d) a
person acquiring the Senior Exchange Notes in a transaction that is, in the opinion of counsel reasonably acceptable to the Issuer, exempt from the registration requirements of the Securities Act; provided that in each case such Eligible Holder
represents that it is acquiring the Senior Exchange Notes for its own account and that it is not acquiring such Senior Exchange Notes with a view to, or for offer or sale in connection with, any distribution thereof (within the meaning of the
Securities Act) that would be in violation of the securities laws of the United States or any state thereof. 

Registration Rights: The Issuer will be required to: 

	 	 •
	  
	 within 90 days after the Senior Rollover Date, file a registration statement for an offer to exchange the
Senior Exchange Notes for publicly registered notes with identical terms; 

	 	 •
	  
	 use its commercially reasonable efforts to cause the registration statement to become effective under the
Securities Act within 150 days after the Senior Rollover Date; 

 Annex II-C-2 

1200 1201 
 1202 1203 1204 1205 1206 1207 1208 
 1209 1210 1211
1212 1213 
 1214 1215 1216 1217 1218 1219 1220 1221 1222 1223 1224 1225 1226 1227 1228 1229 1230 1231 1232 1233
1234 1235 
 1236 
 1237 1238 1239 
 1240 1241 1242 

 

 

  

	 	 •
	  
	 complete the exchange offer within 180 days after the Senior Rollover Date; and 

	 	 •
	  
	 file and use its commercially reasonable efforts to cause to become effective a shelf registration statement
for the resale of the Senior Exchange Notes if it cannot complete an exchange offer by such 180th day, and keep such shelf registration statement effective, with respect to resales of the Senior Exchange Notes, for as long as it is required by the
holders of the Senior Exchange Notes to resell the Senior Exchange Notes. 

 If the Issuer
fails to (a) complete the exchange offer within 180 days after the Senior Rollover Date or (b) cause a shelf registration to become effective within 180 days of the Senior Rollover Date a registration default shall have occurred (a
“Registration Default”), in which event the Issuer shall pay liquidated damages to each holder of Senior Exchange Notes with respect to the first 90-day period immediately following the occurrence of the first Registration Default in an
amount equal to 0.50% per annum on the principal amount of Senior Exchange Notes held by such holder. The amount of the liquidated damages will increase by an additional 0.50% per annum on the principal amount of Senior Exchange Notes with
respect to each subsequent 90-day period until all Registration Defaults have been cured, up to a maximum amount of liquidated damages for all Registration Defaults of 1.50% per annum. 

Governing Law: New York. 
 Indemnification and 
  
 Expenses: Same as the Senior Bridge Loans. 
 Annex
II-C-3 
 1243 1244 
 1245 1246 1247 1248 1249 1250 1251 
 1252 1253 1254
1255 1256 1257 1258 1259 1260 1261 1262 1263 1264 1265 
 1266 

1267 1268 

 

 

  

ANNEX III-A 
 SUMMARY OF TERMS AND CONDITIONS SENIOR SUBORDINATED BRIDGE LOANS 
 Capitalized terms not otherwise defined herein have the same meanings as specified therefor in the Commitment Letter to which this Annex III-A is attached. 

Borrower: Silgan Holdings Inc. (“Silgan”). 

Guarantors: Same subsidiaries of Silgan as the subsidiary guarantors of obligations of Silgan under the Senior Credit
Facilities. 
 Administrative Agent: Bank of America, N.A. or an affiliate thereof will act as sole and exclusive
administrative agent for the Bridge Lenders (the “Administrative Agent”). 
 Sole Lead Arranger and
Sole 
 Bookrunning Manager: Merrill Lynch, Pierce, Fenner & Smith Incorporated (“Merrill
Lynch”) will act as sole and exclusive lead arranger and sole and exclusive bookrunning manager for the Subordinated Bridge Loans (in such capacity, the “Bridge Lead Arranger”). 

Bridge Lenders: Bank of America, N.A. or an affiliate thereof (“Bank of America”; or the “Initial Bridge
Lender”) and other financial institutions and institutional lenders selected by the Bridge Lead Arranger in consultation with Silgan (the “Bridge Lenders”). 
 Bridge Loans: Up to $400 million of senior subordinated unsecured bridge loans (the “Subordinated Bridge Loans”), less the aggregate gross proceeds of Notes or any other debt
other than the Facilities or disqualified equity securities of the Companies issued on or prior to the Closing Date. The Subordinated Bridge Loans will be available to Silgan in one drawing upon consummation of the Acquisition. 

Ranking: The Subordinated Bridge Loans will be unsecured, senior subordinated obligations of Silgan, subordinated to the
Senior Credit Facilities, Senior Bridge Loans, Senior Rollover Loans, Senior Exchange Notes, Existing Senior Notes and the 7.25% Senior Notes due 2016 of Silgan and ranking pari passu in right of payment with or senior to all other unsecured
obligations of Silgan. The guarantees will be unsecured, senior subordinated obligations of each Guarantor, subordinated to such Guarantor’s guarantee under the Senior Credit Facilities, Senior Bridge Loans, Senior Rollover Loans, Senior
Exchange Notes, Existing Senior Notes and the 7.25% Senior Notes due 2016 of Silgan, ranking pari passu in right of payment with or senior to all other unsecured obligations of such Guarantor. 

Security: None. 
 Annex III-A-1 
 1269 

1270 1271 
 1272 1273 
 1274 

1275 1276 
 1277 1278 1279 
 1280 1281 1282 1283 1284

 1285 1286 1287 1288 
 1289 1290 1291 1292 1293 1294 
 1295 1296 1297 1298
1299 1300 1301 1302 1303 1304 1305 1306 
 1307 

1308 

 

 

  
 Purpose: The
proceeds of the Subordinated Bridge Loans, together with borrowings under the Senior Credit Facilities on the Closing Date, shall be used (i) to finance in part the Acquisition and the Refinancing and (ii) to pay fees and expenses incurred
in connection with the Transaction. 
 Interest Rate: Interest shall be payable quarterly in arrears at a rate
per annum equal to one-month LIBOR plus the Applicable Margin. 
 “Applicable Margin” shall initially
be (i) 625 basis points and will increase by an additional 50 basis points at the end of each subsequent three-month period for as long as the Subordinated Bridge Loans are outstanding; provided that the interest rate shall not exceed the
Subordinated Total Cap (as defined in the Fee Letter). 
 “LIBOR” shall be deemed to be not less than
1.50% per annum. 
 During the continuance of an event of default or a payment default, interest will accrue
on the principal of the Subordinated Bridge Loans and on any other outstanding amount at a rate of 200 basis points in excess of the rate otherwise applicable to the Subordinated Bridge Loans (except that following the Subordinated Rollover Date (as
defined below), interest on the Subordinated Bridge Loans will accrue at a per annum rate equal to 200 basis points in excess of the Subordinated Total Cap), and will be payable on demand. 

All calculations of interest shall be made on the basis of actual number of days elapsed in a 360-day year. 

Cost and Yield Protection: Customary for transactions and facilities of this type, including, without limitation, in
respect of breakage or redeployment costs incurred in connection with prepayments, changes in capital adequacy and capital requirements or their interpretation, illegality, unavailability, reserves without proration or offset and payments free and
clear of withholding or other taxes. 
 Amortization: None. 

Optional Prepayments: The Subordinated Bridge Loans may be prepaid prior to the first anniversary of the Closing Date (the
“Subordinated Rollover Date”), without premium or penalty, in whole or in part, upon written notice, at the option of Silgan, at any time, together with accrued interest to the prepayment date. 

Mandatory Prepayments: Silgan shall prepay the Subordinated Bridge Loans without premium or penalty and offer to purchase
Subordinated Exchange Notes at the premium for optional redemptions set forth in Annex III-C (on a pro rata basis) together with accrued interest to the prepayment or purchase date, with (a) all net cash proceeds from (i) sales of property
and assets of Silgan or any of its subsidiaries (including sales or issuances of equity interests by subsidiaries of Silgan but excluding sales of inventory in the ordinary course of business and other exceptions and baskets usual 

Annex III-A-2 
 1309 1310 1311 1312 
 1313 1314 

1315 1316 1317 1318 1319 
 1320 
 1321 1322 1323 1324 1325 1326 1327 1328

 1329 1330 
 1331 1332 1333 1334 1335 1336 
 1337 

1338 1339 1340 1341 1342 
 1343 1344 1345 1346 1347 1348 1349 1350 

 

 

  
 
and customary for financings of this type to be agreed), and (ii) insurance, casualty or condemnation receipts payable upon the occurrence of certain recovery events, in each case, subject
to minimum amounts and reinvestment rights to be agreed, (b) all net cash proceeds from the issuance or incurrence after the Closing Date of additional debt of Silgan or any of its subsidiaries other than the Facilities and certain debt
permitted under the Credit Documentation, and (c) 25% of all net cash proceeds from any issuance of equity interest by, or equity contribution to, Silgan, subject to exceptions to be agreed. Silgan’s obligation to prepay Subordinated
Bridge Loans and purchase Subordinated Exchange Notes shall be deemed to be satisfied with respect to clause (a) above on a dollar-for-dollar basis to the extent of amounts applied to repay loans under (i) the Term Loan Facilities,
(ii) the Revolving Credit Facility to the extent accompanied by a permanent reduction in commitments thereunder or (iii) the Senior Notes and the Senior Bridge Facility. 

Change of Control: In the event of a Change of Control (to be defined, but no more restrictive than as set forth in the
Existing Bank Credit Agreement), each Bridge Lender will have the right to require Silgan, and Silgan must offer, to prepay the outstanding principal amount of the Subordinated Bridge Loans at a price equal to 101% of the principal amount thereof,
plus accrued and unpaid interest thereon to the date of prepayment. Prior to making any such offer, Silgan will, within 30 days of the Change of Control, repay all obligations under the Senior Credit Facilities or obtain any required consent of the
Senior Lenders under the Senior Credit Facilities to make such prepayment of the Subordinated Bridge Loans. 

Conversion into Rollover 
 Loans: If the Subordinated Bridge Loans have not been previously prepaid in full for cash on or prior to the Subordinated Rollover Date, the principal amount of the Subordinated Bridge
Loans outstanding on the Subordinated Rollover Date may, subject to the conditions precedent set forth in Annex III-B, be converted into unsecured, senior subordinated rollover loans with a maturity of ten years from the Closing Date and otherwise
having the terms set forth in Annex III-B (the “Subordinated Rollover Loans”). Any Subordinated Bridge Loans not converted into Subordinated Rollover Loans shall be repaid in full on the Subordinated Rollover Date. 

Exchange into 
 Exchange Notes: Each Bridge Lender that is (or will immediately transfer its Exchange Notes to) an Eligible Holder (as defined in Annex III-C) will have the right, at any time on or
after the Subordinated Rollover Date, to exchange Subordinated Rollover Loans held by it for unsecured senior subordinated exchange notes of Silgan having the terms set forth in Annex III-C (the “Subordinated Exchange Notes”).
Notwithstanding the foregoing, Silgan will not be required to exchange Subordinated Rollover Loans for Subordinated Exchange Notes unless at least $50.0 million of Subordinated Exchange Notes would be outstanding imme 

Annex III-A-3 
 1351 1352 1353 1354 1355 1356 1357 1358 1359 1360 1361 1362 1363 1364 1365 1366 
 1367 1368 1369 1370 1371 1372 1373 1374 1375 1376 1377 
 1378 1379 1380 1381 1382 1383 1384 1385 1386 1387 1388 
 1389 1390 1391 1392 1393 1394 1395 1396 1397 1398 

 

 

  
 
diately after such exchange. In connection with each such exchange, or at any time prior thereto if requested by the Initial Bridge Lender, Silgan shall (i) deliver to the Bridge Lender that
is receiving Subordinated Exchange Notes, and to such other Bridge Lenders as the Initial Bridge Lender requests, an offering memorandum of the type customarily utilized in a Rule 144A offering of high yield securities covering the resale of such
Subordinated Exchange Notes or Subordinated Bridge Loans by such Bridge Lenders, in such form and substance as reasonably acceptable to Silgan and the Initial Bridge Lender, and keep such offering memorandum updated in a manner as would be required
pursuant to a customary Rule 144A securities purchase agreement, (ii) execute an exchange agreement containing provisions customary in Rule 144A transactions (including indemnification provisions) and a registration rights agreement customary
in Rule 144A offerings, in each case, if requested by the Initial Bridge Lender, (iii) deliver or cause to be delivered such opinions and accountants’ comfort letters addressed to the Initial Bridge Lender and such certificates as the
Initial Bridge Lender may request as would be customary in Rule 144A offerings and otherwise in form and substance reasonably satisfactory to the Initial Bridge Lender and (iv) take such other actions, and cause its advisors, auditors and
counsel to take such actions, as reasonably requested by the Initial Bridge Lender in connection with issuances or resales of Subordinated Exchange Notes or Subordinated Bridge Loans, including providing such information regarding the business and
operations of Silgan and its subsidiaries as is reasonably requested by any prospective holder of Subordinated Exchange Notes or Subordinated Bridge Loans and customarily provided in due diligence investigations in connection with purchases or
resales of securities. 
 Conditions Precedent: Those specified in the Funding Conditions. 

Covenants: Negative covenants that are customary for high yield debt securities of issuers of similar size and credit
quality, including compliance with the Fee Letter, as reasonably determined by the Bridge Lead Arranger in light of prevailing market conditions and other circumstances and substantially similar with, and no more restrictive than, the covenants
contained in the existing Silgan high yield indentures with such changes to be agreed based on prevailing market conditions and the operational requirements of Silgan upon consummation of the Transaction, and with such improvements to reflect the
size of the business of Silgan and its subsidiaries pro forma for the Acquisition; provided that the restricted payments basket will be set at the level in effect on the closing date of the existing Silgan high yield indentures and will not be
reduced by restricted payments made pursuant thereto after such closing date and prior to the date of the Commitment Letter. 
 Representations and 
 Warranties, Events of

 Default, Waivers and 
 Consents: Usual and customary for a transaction of this type, and others deemed reasonably appropriate by the Bridge Lead Arranger, including (with 

Annex III-A-4 
 1399 1400 1401 1402 1403 1404 1405 1406 1407 1408 1409 1410 1411 1412 1413 1414 1415 1416 1417 1418 1419 1420 1421 1422 1423 1424 1425 1426 

1427 
 1428 1429 1430 1431 1432 1433 1434 1435 1436 1437 1438 1439 1440 1441 
 1442 1443 1444 1445 1446 

 

 

  
 
out limitation) provisions no more restrictive than those contained in the Senior Credit Facilities. 
 Assignments and 
 Participations: Each Bridge
Lender will be permitted to make assignments in minimum amounts to be agreed to other entities approved by the Administrative Agent, which approval shall not be unreasonably withheld or delayed; provided, however, that no such approval shall be
required in connection with assignments to other Bridge Lenders or any of their affiliates. Each Bridge Lender will also have the right, without any consent, to assign as security all or part of its rights under the Credit Documentation to any
Federal Reserve Bank. Bridge Lenders will be permitted to sell participations with voting rights limited to significant matters such as changes in amount, rate and maturity date. An assignment fee in the amount of $3,500 will be charged to the
assignee with respect to each assignment unless waived by the Administrative Agent in its sole discretion. 
 If
the Initial Bridge Lender makes an assignment of Subordinated Bridge Loans at a price less than par, the assignment agreement may provide that, upon any repayment or prepayment of such Subordinated Bridge Loans with the proceeds of an issuance of
securities of Silgan or any of its subsidiaries in which the Initial Bridge Lender or an affiliate thereof acted as underwriter or initial purchaser (an “Applicable Offering”), (i) Silgan shall pay the holder of such Subordinated
Bridge Loans the price set forth in the assignment agreement as the price (which may be the price at which the Initial Bridge Lender assigned such Subordinated Bridge Loans but in any event may not be greater than par) at which the holder of such
Subordinated Bridge Loans will be repaid by Silgan with the proceeds of an Applicable Offering (the “Agreed Price”) and (ii) Silgan shall pay the Initial Bridge Lender the difference between par and the Agreed Price. Such payments by
Silgan shall be in full satisfaction of such Subordinated Bridge Loans in the case of a repayment or prepayment with proceeds of an Applicable Offering. For the avoidance of doubt, the repayment by Silgan of the Subordinated Bridge Loans shall not
exceed par and the provisions of this paragraph do not apply to any repayments or prepayments other than with proceeds of an Applicable Offering. 
 Governing Law: New York. 
 Indemnification and

 Expenses: Same as the Senior Credit Facilities. 

Counsel to Bridge Lead 
  

Arranger: Latham & Watkins LLP. 
 Annex III-A-5 
 1447 1448 

1449 1450 1451 1452 1453 1454 1455 1456 1457 1458 1459 1460 1461 1462 

1463 1464 1465 1466 1467 1468 1469 1470 1471 1472 1473 1474 1475 1476 1477 1478 1479 1480 1481 1482 

1483 
 1484 1485 
 1486 1487 

 

 

  

ANNEX III-B 
 SUMMARY OF TERMS AND CONDITIONS SENIOR SUBORDINATED ROLLOVER LOANS 
 Capitalized terms not otherwise defined herein have the same meanings as specified therefor in the Commitment Letter to which this Annex III-B is attached. 

Borrower: Silgan. 
 Guarantors: Same as the Subordinated Bridge Loans. 

Rollover Loans: Subordinated Rollover Loans in an initial principal amount equal to 100% of the outstanding principal
amount of the Subordinated Bridge Loans on the Subordinated Rollover Date. Subject to the conditions precedent set forth below, the Subordinated Rollover Loans will be available to Silgan to refinance the Subordinated Bridge Loans on the
Subordinated Rollover Date. The Subordinated Rollover Loans will be governed by the Credit Documentation for the Subordinated Bridge Loans and, except as set forth below, shall have the same terms as the Subordinated Bridge Loans. 

Ranking: Same as Subordinated Bridge Loans. 
 Interest Rate: Interest shall be payable quarterly in arrears at a rate per annum equal to the Subordinated Total Cap. 

During the continuance of an event of default or a payment default, interest will accrue on the principal of the
Subordinated Rollover Loans and on any other outstanding amount at a rate of 200 basis points in excess of the rate otherwise applicable to the Subordinated Rollover Loans, and will be payable on demand. 

All calculations of interest shall be made on the basis of actual number of days elapsed in a 360-day year. 

Maturity: Ten years after the Closing Date (the “Subordinated Rollover Maturity Date”). 

Optional Prepayments: For so long as the Subordinated Rollover Loans have not been exchanged for Subordinated Exchange
Notes of Silgan as provided in Annex III-C, they may be prepaid at the option of Silgan, in whole or in part, at any time, together with accrued and unpaid interest to the prepayment date (but without premium or penalty). 

Conditions Precedent to 
 Rollover: The ability of Silgan to convert any Subordinated Bridge Loans into Subordinated Rollover Loans is subject to the following conditions being satisfied: 

Annex III-B-1 
 1488 
 1489 1490 

1491 1492 
 1493 
 1494 

1495 1496 1497 1498 1499 1500 1501 1502 1503 
 1504 
 1505 1506 

1507 1508 1509 1510 1511 
 1512 1513 
 1514 1515 

1516 1517 1518 1519 1520 
 1521 1522 1523 1524 

 

 

  

	 	 (i)
	  
	 at the time of any such refinancing, there shall exist no event of default or event that, with notice and/or
lapse of time, could become an event of default, and there shall be no failure to comply with the Take-out Demand (as defined in the Fee Letter); 

 (ii) all fees due to the Bridge Lead Arranger and the Initial Bridge Lender shall have been paid in full; 
 (iii) the Subordinated Bridge Lenders shall have received promissory notes evidencing the Subordinated Rollover Loans (if requested) and such other documentation as shall be set forth in
the Credit Documentation; and 
 (iv) no order, decree, injunction or judgment enjoining any such refinancing
shall be in effect. 
 Covenants: From and after the Subordinated Rollover Date, the covenants applicable to the
Subordinated Rollover Loans will conform to those applicable to the Subordinated Exchange Notes, except for covenants relating to the obligation of Silgan to refinance the Subordinated Rollover Loans and others to be agreed. 

Assignments and 
 Participations: Same as the Subordinated Bridge Loans. 
 Governing Law: New York. 
 Indemnification and

 Expenses: Same as the Subordinated Bridge Loans. 

Annex III-B-2 
 1525 1526 1527 1528 1529 
 1530 1531 

1532 1533 1534 1535 
 1536 1537 
 1538 1539 1540 1541 1542 

1543 1544 
 1545 
 1546 1547 

 

 

  

ANNEX III-C 
 SUMMARY OF TERMS AND CONDITIONS SENIOR SUBORDINATED EXCHANGE NOTES 
 Capitalized terms not otherwise defined herein have the same meanings as specified therefor in the Commitment Letter to which this Annex III-C is attached. 

Issuer: Silgan. 
 Guarantors: Same as the Subordinated Bridge Loans. 

Exchange Notes: Silgan will issue the Subordinated Exchange Notes under an indenture that complies with the Trust
Indenture Act of 1939, as amended (the “Indenture”). Silgan will appoint a trustee reasonably acceptable to the holders of the Subordinated Exchange Notes. The Indenture will include provisions customary for an indenture governing publicly
traded high yield debt securities and substantially similar with, and no more restrictive than, the covenants contained in the existing Silgan high yield indenture with such changes to be agreed based on prevailing market conditions and the
operational requirements of Silgan upon consummation of the Transaction; provided that the restricted payments basket will be set at the level in effect on the closing date of the existing Silgan high yield indentures and will not be reduced by
restricted payments made pursuant thereto after such closing date and prior to the date of the Commitment Letter. Except as expressly set forth above, the Subordinated Exchange Notes shall have the same terms as the Subordinated Rollover Loans.

 Ranking: Same as the Subordinated Bridge Loans. 

Security: None. 
 Interest Rate: Interest shall be payable quarterly in arrears at a per annum rate equal to the Subordinated Total Cap. 

During the continuance of an event of default or a payment default, interest will accrue on the principal of the
Subordinated Exchange Notes and on any other outstanding amount at a rate of 200 basis points in excess of the rate otherwise applicable to the Subordinated Exchange Notes, and will be payable on demand. 

Maturity: Same as the Subordinated Rollover Loans. 

Amortization: None. 
 Optional Redemption: Until the fifth anniversary of the Closing Date, the Subordinated Exchange Notes will be redeemable at a customary “make-whole” premium calculated using a
discount rate equal to the yield on comparable 
 Annex III-C-1 

1548 
 1549 
 1550 1551 

1552 1553 
 1554 
 1555 

1556 1557 1558 1559 1560 1561 1562 1563 1564 1565 1566 1567 1568 1569 1570 1571 

1572 
 1573 
 1574 1575 

1576 1577 1578 1579 1580 
 1581 
 1582 

1583 1584 1585 

 

 

  
 
Treasury securities plus 50 basis points. Thereafter, the Subordinated Exchange Notes will be redeemable at the option of the Issuer at a premium equal to 50% of the coupon on the Subordinated
Exchange Notes, declining ratably to par on the date which is one year prior to the Subordinated Rollover Maturity Date. 
 In addition, Subordinated Exchange Notes will be redeemable at the option of the Issuer prior to the third anniversary of the Closing Date with the net cash proceeds of qualified equity
offerings of Silgan that are contributed to the Issuer at a premium equal to the coupon on the Subordinated Exchange Notes; provided that after giving effect to such redemption at least 65% of the aggregate principal amount of Subordinated Exchange
Notes originally issued shall remain outstanding. 
 Mandatory 

Offer to Purchase: The Issuer will be required to offer to purchase the Subordinated Exchange Notes upon a Change of
Control (to be defined, but no more restrictive than as set forth in the Existing Bank Credit Agreement) at 101% of the principal amount thereof plus accrued interest to the date of purchase. 

Right to Transfer 
 Exchange Notes: Each holder of Subordinated Exchange Notes shall have the right to transfer its Subordinated Exchange Notes in whole or in part, at any time to an Eligible Holder and,
after the Subordinated Exchange Notes are registered pursuant to the provisions described under “Registration Rights”, to any person or entity; provided that if the Issuer or any of its affiliates holds Subordinated Exchange Notes, such
Subordinated Exchange Notes shall be disregarded in any voting. “Eligible Holder” will mean (a) an institutional “accredited investor” within the meaning of Rule 501 under the Securities Act, (b) a “qualified
institutional buyer” within the meaning of Rule 144A under the Securities Act, (c) a person acquiring the Subordinated Exchange Notes pursuant to an offer and sale occurring outside of the United States within the meaning of Regulation S
under the Securities Act or (d) a person acquiring the Subordinated Exchange Notes in a transaction that is, in the opinion of counsel reasonably acceptable to the Issuer, exempt from the registration requirements of the Securities Act;
provided that in each case such Eligible Holder represents that it is acquiring the Subordinated Exchange Notes for its own account and that it is not acquiring such Subordinated Exchange Notes with a view to, or for offer or sale in connection
with, any distribution thereof (within the meaning of the Securities Act) that would be in violation of the securities laws of the United States or any state thereof. 
 Registration Rights: The Issuer will be required to: 

	 	 •
	  
	 within 90 days after the Rollover Date, file a registration statement for an offer to exchange the Subordinated
Exchange Notes for publicly registered notes with identical terms; 

 Annex III-C-2 

1586 1587 1588 1589 1590 
 1591 1592 1593 1594 1595 1596 1597 
 1598 1599 1600
1601 1602 1603 
 1604 1605 1606 1607 1608 1609 1610 1611 1612 1613 1614 1615 1616 1617 1618 1619 1620 1621 1622
1623 1624 1625 1626 
 1627 
 1628 1629 1630 

 

 

  

	 	 •
	  
	 use its commercially reasonable efforts to cause the registration statement to become effective under the
Securities Act within 150 days after the Subordinated Rollover Date; 

	 	 •
	  
	 complete the exchange offer within 180 days after the Subordinated Rollover Date; and

	 	 •
	  
	 file and use its commercially reasonable efforts to cause to become effective a shelf registration statement
for the resale of the Subordinated Exchange Notes if it cannot complete an exchange offer by such 180th day, and keep such shelf registration statement effective, with respect to resales of the Subordinated Exchange Notes, for as long as it is
required by the holders of the Subordinated Exchange Notes to resell the Subordinated Exchange Notes. 

 If the Issuer fails to (a) complete the exchange offer within 180 days after the Senior Rollover Date or (b) cause a shelf-registration to become effective within 180 days of the
Senior Rollover Date a registration default shall have occurred (a “Registration Default”), in which event the Issuer shall pay liquidated damages to each holder of Subordinated Exchange Notes with respect to the first 90-day period
immediately following the occurrence of the first Registration Default in an amount equal to 0.50% per annum on the principal amount of Subordinated Exchange Notes held by such holder. The amount of the liquidated damages will increase by an
additional 0.50% per annum on the principal amount of Subordinated Exchange Notes with respect to each subsequent 90-day period until all Registration Defaults have been cured, up to a maximum amount of liquidated damages for all Registration
Defaults of 1.50% per annum. 
 Governing Law: New York. 

Indemnification and 
 Expenses: Same as the Subordinated Bridge Loans. 

Annex III-C-3 
 1631 1632 1633 
 1634 1635 

1636 1637 1638 1639 1640 1641 1642 1643 
 1644 1645 1646 1647 1648 1649 1650 1651 1652 1653 1654 1655 1656 1657 
 1658 
 1659 1660 

1661 1662 1663 

 

 

  

ANNEX IV 
 CONDITIONS PRECEDENT TO CLOSING 
 Capitalized terms
not otherwise defined herein have the same meanings as specified therefor in the Commitment Letter to which this Annex IV is attached. 
 The initial extensions of credit under the Senior Credit Facilities and the funding of the Bridge Loans under the Bridge Facilities will be subject to satisfaction of the conditions set
forth in the Commitment Letter and the following: 
 (i)(A) The Acquisition Agreement shall not have been
altered, amended or otherwise changed or supplemented or any provision waived or consented to in any manner that would materially and adversely affect the interests of the Lead Arrangers and the Initial Lenders without the prior written consent of
the Initial Lenders, which will not be unreasonably withheld or delayed (it being agreed that (a) any reduction in the purchase price of the Acquisition shall not be materially adverse to the interests of the Lead Arrangers and the Initial
Lenders but shall be allocated (i) 76% to a reduction in the Senior Credit Facilities and (ii) 24% to the equity and available cash on hand of Silgan; provided that any facts and circumstances underlying a decrease in the purchase price
may constitute a Material Adverse Effect and (b) any change to the definition of Material Adverse Effect in the Acquisition Agreement shall be subject to the prior written consent of the Initial Lenders, not to be unreasonably withheld or
delayed); (B) the Acquisition Agreement Representations contained in Section 3.01(c) of the Acquisition Agreement shall be true and correct in all material respects as of the Closing Date as though made on the Closing Date (except to the
extent such representations and warranties expressly relate to an earlier date, in which case as of such earlier date); (C) the Acquisition Agreement Representations contained in the first sentence of Section 3.01(i) of the Acquisition
Agreement shall be true and correct in all respects as of the Closing Date as though made on the Closing Date; and (D) all other Acquisition Agreement Representations shall be true and correct (without giving effect to any qualifications or
limitations as to materiality or Material Adverse Effect set forth therein) as of the Closing Date as though made on the Closing Date (except to the extent such representations and warranties expressly relate to a specified date, in which case as of
such specified date), except, in the case of this clause (D), for such failures to be true and correct that do not represent and are not reasonably expected to represent, individually or in the aggregate, a Material Adverse Effect. The Specified
Representations shall be true and correct in all material respects. The Acquisition shall have been, or shall concurrently with the funding of the Facilities be, consummated in accordance with the terms of the Acquisition Agreement (subject to
alterations, amendments, changes, supplements, waivers or consents permitted pursuant to the first sentence of this clause (i)). The Acquisition Agreement shall mean that Agreement and Plan of Merger, between Silgan and Graham Packaging Company Inc.
which shall be reasonably satisfactory to the Lead Arrangers (it being agreed that the final Acquisition Agreement, dated April 12, 2011, is satisfactory to the Lead Arrangers (the “Acquisition Agreement”)). 

(ii) There shall have been no Material Adverse Effect (as defined in the Acquisition Agreement as in effect on the date
hereof) since the date of the latest audited balance sheet of Silgan provided to the Commitment Parties prior to execution of the Commitment Letter. 
 (iii) The Initial Lenders shall have received certification as to the financial condition and solvency of Silgan and its consolidated subsidiaries taken as a whole (after giving effect to
the Transaction and the incurrence of indebtedness related thereto) from the chief financial officer 
 Annex
IV-1 
 1664 
 1665 
 1666 1667 

1668 1669 1670 
 1671 1672 1673 1674 1675 1676 1677 1678 1679 1680 1681 1682 1683 1684 1685 1686 1687 1688 1689 1690 1691 1692 1693 1694 1695 1696 1697 1698 1699 1700 1701 

1702 1703 1704 
 1705 1706 1707 

 

 

  
 
of Silgan, in form and substance reasonably satisfactory to the Lead Arrangers, together with reasonably appropriate supporting financial statements and calculations. 

(iv) The Initial Lenders shall have received customary opinions of counsel to Silgan and the Guarantors (which shall
cover, among other things, authority, legality, validity, binding effect and enforceability of the documents for such Facility and, in the case of the Senior Credit Facilities, creation and perfection of the liens granted thereunder on the
Collateral and which shall be consistent with the opinions of counsel that were delivered in connection with the Existing Bank Credit Documentation) and of appropriate local counsel and such customary corporate resolutions, certificates and other
closing documents as such Initial Lenders shall reasonably require. 
 (v)(a) The Senior Administrative Agent (on
behalf of the Senior Lenders) shall have received satisfactory evidence that it shall have a valid and perfected first priority (subject to certain exceptions to be set forth in the Credit Documentation) lien and security interest in the Collateral;
(b) all filings, recordations and searches necessary or desirable in connection with the liens and security interests in the Collateral shall have been or concurrently will be duly made; (c) all filing and recording fees and taxes shall
have been or concurrently will be duly paid; and (d) any surveys and title insurance (in respect of real property with respect to which a mortgage is being provided) and landlord waivers and access letters reasonably requested by the Senior
Administrative Agent with respect to real property interests of Silgan and its subsidiaries shall have been obtained, in each case to be consistent with those that were delivered in connection with the Existing Bank Credit Documentation; provided
that none of the foregoing clauses of this subsection (v) shall be construed in a manner inconsistent with the provisions of Section 5 of the Commitment Letter, shall be subject to the provisions therein. The Senior Administrative Agent
shall have received the results of recent lien searches in each relevant jurisdiction with respect to the Companies and their subsidiaries, and such search results shall reveal no liens on any assets of the Companies and their subsidiaries except
for customary permitted liens and liens to be discharged on or prior to the Closing Date pursuant to documentation reasonably satisfactory to the Senior Administrative Agent. The Initial Lenders shall be reasonably satisfied with the amount, types
and terms and conditions of all insurance maintained by Silgan and its subsidiaries, and the Senior Lenders shall have received endorsements naming the Senior Administrative Agent, on behalf of the Senior Lenders, as an additional insured or loss
payee, as the case may be. 
 (vi) The Lead Arrangers and the Initial Lenders shall have received each of the
following (provided that the public filing of any of the following items shall be deemed to constitute receipt by the Lead Arrangers and the Lenders of such item for purposes of this clause (vi)): (A) the consolidated balance sheet of Silgan
and the Acquired Business as of the end of the fiscal years ending December 31, 2010, December 31, 2009, and December 31, 2008, and the related consolidated statements of operations, cash flows and shareholders’ equity
(other than consolidating and other financial statements and data with respect to guarantor and non-guarantor subsidiaries), accompanied by an unqualified report thereon of Ernst & Young LLP; (B) any additional audited and unaudited
financial statements for all recent, probable or pending acquisitions by Sailfish and the Acquired Business that would be required to be filed in a Form 8-K other than the Acquisition; and (C) pro forma balance sheet and related statement of
operations of Silgan for fiscal year 2010 and for any subsequent interim period, in each case pursuant to this clause (C), after giving effect to the Transaction (the “Pro Forma Financial Statements”), promptly after the historical
financial statements for such periods are available, all of which financial statements shall be prepared in accordance with generally accepted accounting principles in the United States or, with respect to Pro Forma Financial Statements, meet the
requirements of Regulation S-X under the Securities Act and all other accounting rules and regulations of the Securities and 
 Annex IV-2 
 1708 1709 

1710 1711 1712 1713 1714 1715 1716 1717 
 1718 1719 1720 1721 1722 1723 1724 1725 1726 1727 1728 1729 1730 1731 1732 1733 1734 1735 1736 1737 1738 
 1739 1740 1741 1742 1743 1744 1745 1746 1747 1748 1749 1750 1751 1752 1753 1754 1755 

 

 

  
 
Exchange Commission promulgated thereunder applicable to a registration statement under the Securities Act on Form S-1. 
 (vii) All fees due to the Administrative Agents, the Lead Arrangers and the Initial Lenders pursuant to the Fee Letter shall have been paid, and all reasonable expenses to be paid or
reimbursed to the Administrative Agents and the Lead Arrangers that have been invoiced a reasonable period of time prior to the Closing Date shall have been paid, in each case, from the proceeds of the initial funding under the applicable
Facilities. 
 (viii) Each Facility (or the Notes in lieu of any Facility) shall have been funded as contemplated
by this Commitment Letter. 
 (ix) With respect to the Bridge Facilities, Silgan shall have engaged, pursuant to
an engagement letter, entered into as of the date of the Commitment Letter (the “Engagement Letter”), one or more investments banks satisfactory to the Lead Arrangers to sell or privately place the Senior Notes, Subordinated Notes and any
Take-Out Financings (as defined in the Fee Letter). With respect to the Bridge Facilities, Silgan shall have provided the Investment Bank (as defined in the Engagement Letter) with a completed preliminary offering memorandum substantially similar to
offering memoranda relating to Silgan’s previously issued high yield debt securities and suitable for use in a “high yield road show” relating to the Senior Notes (with respect to the Senior Bridge Facility) and the Subordinated Notes
(with respect to the Subordinated Bridge Facility) and in form for preliminary offering memoranda used in private placements of non-convertible debt securities under Rule 144A substantially similar to offering memoranda relating to Silgan’s
previously issued high yield debt securities and including a discussion of Silgan, the Acquired Business (and/or their respective subsidiaries), the historical and pro forma financial statements required to be delivered pursuant to paragraph
(vi) above (provided that customary data as to the total assets, revenue, EBITDA and Adjusted EBITDA of non-guarantor subsidiaries shall be provided) and drafts of customary comfort letters by the independent accountants for Silgan, which such
accountants are prepared to issue upon completion of customary procedures. With respect to the Subordinated Bridge Facility, the Investment Bank shall have been afforded a period of at least 10 consecutive business days, or such shorter period as
shall be mutually agreed upon by Silgan and the Investment Bank, following the satisfaction of the condition set forth in the immediately preceding sentence (the “ Marketing Period”) to seek to offer and sell or privately place the
Subordinated Notes, respectively, with qualified purchasers thereof. For purposes of determining the Marketing Period, the periods from August 29, 2011 to September 5, 2011 and December 23, 2011 to January 2, 2012 shall not be
deemed to be business days. 
 (x) After giving effect to the Transaction, Silgan and its subsidiaries shall have
outstanding no indebtedness or preferred stock other than (a) the loans and other extensions of credit under the Facilities (or the Notes in lieu of any Facility), (b) 7.25% Senior Notes of Silgan due 2016 in an aggregate principal amount
no greater than $244.4 million, (c) 8.25% Senior Notes of the Acquired Business (which shall have been assumed by Silgan), due 2017 and 2018, in an aggregate principal amount no greater than $503.4 million minus the principal amount of the
Senior Bridge Loans and any Senior Notes outstanding after giving effect to the Transaction, and (d) other indebtedness in limited amounts to be mutually agreed upon which shall include indebtedness permitted by the Existing Bank Credit
Documentation and by the existing credit agreement of Graham Packaging Company Inc. The Senior Administrative Agent and the Subordinated Bridge Administrative Agent and, if applicable, the Senior Bridge Administrative Agent shall have received
reasonably satisfactory evidence of repayment of all indebtedness to be repaid on the Closing Date and the discharge (or the making of arrangements for discharge) of all liens other than liens permitted to remain outstanding under the Credit
Documentation. 
 Annex IV-3 
 1756 1757 
 1758 1759 1760 1761 1762 

1763 1764 
 1765 1766 1767 1768 1769 1770 1771 1772 1773 1774 1775 1776 1777 1778 1779 1780 1781 1782 1783 1784 1785 1786 1787 1788 

1789 1790 1791 1792 1793 1794 1795 1796 1797 1798 1799 1800 1801 1802 

 

 

  

	 	 (xi)
	  
	 To the extent requested by the Initial Lenders at least ten (10) business days prior to the Closing Date,
Silgan and each of the Guarantors shall have provided the documentation and other information to the Administrative Agents that are required by regulatory authorities under applicable “know-your-customer” rules and regulations, including
the Patriot Act, at least five (5) business days prior to the Closing Date. 

 Annex IV-4

 1803 1804 1805 1806 1807

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