Document:

EX-10.1

 Exhibit 10.1 

Execution Version 

TERM LOAN AGREEMENT 

dated as of April 9, 2020 

among 
 ATMOS ENERGY
CORPORATION, 
 as Borrower, 

THE LENDERS FROM TIME TO TIME PARTY HERETO, 

CRÉDIT AGRICOLE CORPORATE AND INVESTMENT BANK 

as Administrative Agent, 

CANADIAN IMPERIAL BANK OF COMMERCE, NEW YORK BRANCH, 

as Syndication Agent, 
  

 
 CRÉDIT
AGRICOLE CORPORATE AND INVESTMENT BANK, 
 and 

CANADIAN IMPERIAL BANK OF COMMERCE, NEW YORK BRANCH, 

As Joint Lead Arrangers 
 and 

Joint-Bookrunners 

 TABLE OF CONTENTS 

 

							
	 	  	Page	 
		
	 ARTICLE I DEFINITIONS; CONSTRUCTION
	  	 	1	 
	 Section 1.1.
	 	 Definitions
	  	 	1	 
	 Section 1.2.
	 	 Classifications of Loans and Borrowings
	  	 	19	 
	 Section 1.3.
	 	 Accounting Terms and Determination
	  	 	19	 
	 Section 1.4.
	 	 Terms Generally
	  	 	19	 
		
	 ARTICLE II AMOUNT AND TERMS OF THE COMMITMENTS
	  	 	19	 
	 Section 2.1.
	 	 General Description of Facility
	  	 	20	 
	 Section 2.2.
	 	 Loans
	  	 	20	 
	 Section 2.3.
	 	 Procedure for Borrowings
	  	 	20	 
	 Section 2.4.
	 	 Funding of Borrowings
	  	 	20	 
	 Section 2.5.
	 	 Interest Elections
	  	 	21	 
	 Section 2.6.
	 	 Optional Reduction and Termination of Commitments
	  	 	22	 
	 Section 2.7.
	 	 Repayment of Loans
	  	 	22	 
	 Section 2.8.
	 	 Evidence of Indebtedness
	  	 	22	 
	 Section 2.9.
	 	 Prepayments
	  	 	22	 
	 Section 2.10.
	 	 Interest on Loans
	  	 	23	 
	 Section 2.11.
	 	 Fees
	  	 	23	 
	 Section 2.12.
	 	 Computation of Interest and Fees
	  	 	23	 
	 Section 2.13.
	 	 Inability to Determine Interest Rates
	  	 	24	 
	 Section 2.14.
	 	 Illegality
	  	 	25	 
	 Section 2.15.
	 	 Increased Costs
	  	 	25	 
	 Section 2.16.
	 	 Funding Indemnity
	  	 	26	 
	 Section 2.17.
	 	 Taxes
	  	 	27	 
	 Section 2.18.
	 	 Payments Generally; Pro Rata Treatment; Sharing of
Set-offs
	  	 	28	 
	 Section 2.19.
	 	 Mitigation of Obligations
	  	 	29	 
	 Section 2.20.
	 	 Replacement of Lenders
	  	 	30	 
	 Section 2.21.
	 	 Increase of Commitments; Additional Lenders
	  	 	30	 
	 Section 2.22.
	 	 Defaulting Lenders
	  	 	30	 
		
	 ARTICLE III CONDITIONS PRECEDENT TO LOANS
	  	 	31	 
	 Section 3.1.
	 	 Conditions To Effectiveness
	  	 	31	 
	 Section 3.3.
	 	 Delivery of Documents
	  	 	33	 
		
	 ARTICLE IV REPRESENTATIONS AND WARRANTIES
	  	 	33	 
	 Section 4.1.
	 	 Organization and Good Standing
	  	 	33	 
	 Section 4.2.
	 	 Due Authorization
	  	 	33	 
	 Section 4.3.
	 	 No Conflicts
	  	 	33	 
	 Section 4.4.
	 	 Consents
	  	 	34	 
	 Section 4.5.
	 	 Enforceable Obligations
	  	 	34	 
	 Section 4.6.
	 	 Financial Condition
	  	 	34	 
	 Section 4.7.
	 	 Intentionally Omitted
	  	 	34	 
	 Section 4.8.
	 	 No Default
	  	 	34	 
	 Section 4.9.
	 	 Intentionally Omitted
	  	 	34	 
	 Section 4.10.
	 	 Taxes
	  	 	34	 
	 Section 4.11.
	 	 Compliance with Law
	  	 	35	 
	 Section 4.12.
	 	 Material Agreements
	  	 	35	 
	 Section 4.13.
	 	 ERISA
	  	 	35	 
	 Section 4.14.
	 	 Use of Proceeds
	  	 	36	 

							
	 	  	Page	 
	 Section 4.15.
	 	 Government Regulation
	  	 	36	 
	 Section 4.16.
	 	 Disclosure
	  	 	36	 
	 Section 4.17.
	 	 OFAC; Anti-Corruption Laws; Anti-Money Laundering Laws
	  	 	37	 
	 Section 4.18.
	 	 Insurance.
	  	 	37	 
	 Section 4.19.
	 	 Franchises, Licenses, Etc.
	  	 	37	 
	 Section 4.20.
	 	 Secured Indebtedness
	  	 	38	 
	 Section 4.21.
	 	 Subsidiaries
	  	 	38	 
		
	 ARTICLE V AFFIRMATIVE COVENANTS
	  	 	38	 
	 Section 5.1.
	 	 Information Covenants
	  	 	38	 
	 Section 5.2.
	 	 Debt to Capitalization Ratio
	  	 	40	 
	 Section 5.3.
	 	 Preservation of Existence, Franchises and Assets.
	  	 	40	 
	 Section 5.4.
	 	 Books and Records
	  	 	40	 
	 Section 5.5.
	 	 Compliance with Law
	  	 	40	 
	 Section 5.6.
	 	 Payment of Taxes and Other Claims
	  	 	40	 
	 Section 5.7.
	 	 Insurance
	  	 	41	 
	 Section 5.8.
	 	 Use of Proceeds
	  	 	41	 
	 Section 5.9.
	 	 Audits/Inspections
	  	 	41	 
		
	 ARTICLE VI NEGATIVE COVENANTS
	  	 	41	 
	 Section 6.1.
	 	 Nature of Business
	  	 	41	 
	 Section 6.2.
	 	 Consolidation and Merger
	  	 	41	 
	 Section 6.3.
	 	 Sale or Lease of Assets
	  	 	41	 
	 Section 6.4.
	 	 Arm’s-Length Transactions
	  	 	42	 
	 Section 6.5.
	 	 Fiscal Year; Organizational Documents
	  	 	42	 
	 Section 6.6.
	 	 Liens
	  	 	42	 
		
	 ARTICLE VII EVENTS OF DEFAULT
	  	 	43	 
	 Section 7.1.
	 	 Events of Default
	  	 	43	 
	 Section 7.2.
	 	 Acceleration; Remedies
	  	 	45	 
	 Section 7.3.
	 	 Allocation of Payments After Event of Default
	  	 	46	 
		
	 ARTICLE VIII THE ADMINISTRATIVE AGENT
	  	 	47	 
	 Section 8.1.
	 	 Appointment of Administrative Agent
	  	 	47	 
	 Section 8.2.
	 	 Nature of Duties of Administrative Agent
	  	 	47	 
	 Section 8.3.
	 	 Lack of Reliance on the Administrative Agent
	  	 	48	 
	 Section 8.4.
	 	 Certain Rights of the Administrative Agent
	  	 	48	 
	 Section 8.5.
	 	 Reliance by Administrative Agent
	  	 	48	 
	 Section 8.6.
	 	 The Administrative Agent in its Individual Capacity
	  	 	48	 
	 Section 8.7.
	 	 Successor Administrative Agent
	  	 	48	 
	 Section 8.8.
	 	 Co-Documentation Agents; Syndication Agent
	  	 	49	 
		
	 ARTICLE IX MISCELLANEOUS
	  	 	49	 
	 Section 9.1.
	 	 Notices
	  	 	49	 
	 Section 9.2.
	 	 Waiver; Amendments
	  	 	52	 
	 Section 9.3.
	 	 Expenses; Indemnification
	  	 	53	 
	 Section 9.4.
	 	 Successors and Assigns
	  	 	54	 
	 Section 9.5.
	 	 Governing Law; Jurisdiction; Consent to Service of Process
	  	 	58	 
	 Section 9.6.
	 	 WAIVER OF JURY TRIAL
	  	 	59	 
	 Section 9.7.
	 	 Right of Setoff
	  	 	59	 
	 Section 9.8.
	 	 Counterparts; Integration
	  	 	59	 
	 Section 9.9.
	 	 Survival
	  	 	59	 
	 Section 9.10.
	 	 Severability
	  	 	60	 

  
 ii 

							
	 	  	Page	 
	 Section 9.11.
	 	 Confidentiality
	  	 	60	 
	 Section 9.12.
	 	 Interest Rate Limitation
	  	 	60	 
	 Section 9.13.
	 	 Waiver of Effect of Corporate Seal
	  	 	61	 
	 Section 9.14.
	 	 Patriot Act
	  	 	61	 
	 Section 9.15.
	 	 No Fiduciary Duty
	  	 	61	 

  
 iii 

							
	Schedules	  				  	
	 Schedule I
	  	 	-	 	  	Applicable Margins
	 Schedule II
	  	 	-	 	  	Commitment Amounts
	 Schedule 4.20
	  	 	-	 	  	Secured Indebtedness
	 Schedule 4.21
	  	 	-	 	  	Subsidiaries
	Exhibits	  				  	
	 Exhibit A
	  	 	-	 	  	Form of Assignment and Acceptance
	 Exhibit 2.3
	  	 	-	 	  	Form of Notice of Borrowing
	 Exhibit 2.5
	  	 	-	 	  	Form of Notice of Conversion/Continuation
	 Exhibit 3.1(b)(iii)
	  	 	-	 	  	Form of Secretary’s Certificate
	 Exhibit 3.1(b)(vi)
	  	 	-	 	  	Form of Officer’s Certificate
	 Exhibit 5.1(c)
	  	 	-	 	  	Form of Compliance Certificate

  
 iv 

 TERM LOAN AGREEMENT 

THIS TERM LOAN AGREEMENT (this “Agreement”) is made and entered into as of April 9, 2020, by and among
ATMOS ENERGY CORPORATION, a Texas and Virginia corporation (the “Borrower”), the several banks and other financial institutions and lenders from time to time party hereto (the “Lenders”), and CRÉDIT AGRICOLE
CORPORATE AND INVESTMENT BANK, in its capacity as administrative agent for the Lenders (the “Administrative Agent”). 

W I T N E S S E T H: 

WHEREAS, the Borrower has requested that the Lenders establish in favor of the Borrower a $200,000,000 term loan facility; 

WHEREAS, subject to the terms and conditions of this Agreement, the Lenders, to the extent of their respective Commitments as defined
herein, are willing severally to establish the requested term loan facility in favor of the Borrower. 
 NOW, THEREFORE, in
consideration of the premises and the mutual covenants herein contained, the Borrower, the Lenders and the Administrative Agent agree as follows: 

ARTICLE I 

DEFINITIONS; CONSTRUCTION 

Section 1.1.    Definitions. In addition to the other terms defined herein, the
following terms used herein shall have the meanings herein specified (to be equally applicable to both the singular and plural forms of the terms defined): 

“Adjusted LIBO Rate” shall mean, with respect to each Interest Period for a Eurodollar Borrowing, the rate per annum obtained
by dividing (i) LIBOR for such Interest Period by (ii) a percentage equal to 1.00 minus the Eurodollar Reserve Percentage. 

“Administrative Questionnaire” shall mean, with respect to each Lender, an administrative questionnaire in the form prepared
by the Administrative Agent and submitted to the Administrative Agent duly completed by such Lender. 
 “Affiliate” shall
mean, as to any Person, any other Person directly or indirectly controlling, controlled by or under direct or indirect common control with such Person. A Person shall be deemed to control another Person if such Person possesses, directly or
indirectly, the power (a) to vote 10% or more of the securities having ordinary voting power for the election of directors of such other Person or (b) to direct or cause direction of the management and policies of such other Person,
whether through the ownership of voting securities, by contract or otherwise. 
 “Aggregate Commitment Amount” shall mean
the aggregate principal amount of the Aggregate Commitments from time to time. On the Closing Date, the Aggregate Commitment Amount equals $200,000,000. 

 “Aggregate Commitments” shall mean, collectively, all Commitments of all
Lenders at any time outstanding. 
 “Anti-Terrorism and Anti-Corruption Laws” shall mean any applicable laws, rules, or
regulations relating to economic or trade sanctions, terrorism, bribery, corruption or money laundering, including without limitation any regulations or sanctions programs administered by OFAC, the United Nations, the United Kingdom, the European
Union or any other applicable authority. 
 “Applicable Lending Office” shall mean, for each Lender and for each Type of
Loan, the “Lending Office” of such Lender (or an Affiliate of such Lender) designated for such Type of Loan in the Administrative Questionnaire submitted by such Lender or such other office of such Lender (or an Affiliate of such Lender)
as such Lender may from time to time specify to the Administrative Agent and the Borrower as the office by which its Loans of such Type are to be made and maintained. 

“Applicable Margin” shall mean, as of any date, the percentage per annum determined by reference to the applicable Rating
Category from time to time in effect as set forth on Schedule I; provided, that a change in the Applicable Margin resulting from a change in the Rating Category shall be effective on the day on which any rating agency changes its
rating and shall continue until the day prior to the day that a further change becomes effective. Notwithstanding the foregoing, the Applicable Margin from the Closing Date until the first change in the applicable Rating Category after the Closing
Date shall be at Level II as set forth on Schedule I. 
 “Approved Fund” shall mean any Person (other than a natural
Person) that is (or will be) engaged in making, purchasing, holding or otherwise investing in commercial loans and similar extensions of credit in the ordinary course of its business and that is administered or managed by (i) a Lender,
(ii) an Affiliate of a Lender or (iii) an entity or an Affiliate of an entity that administers or manages a Lender. 

“Assignment and Acceptance” shall mean an assignment and acceptance entered into by a Lender and an assignee (with the
consent of any party whose consent is required by Section 9.4(b)) and accepted by the Administrative Agent, in the form of Exhibit A attached hereto or any other form approved by the Administrative Agent. 

“Bail-In Action” shall mean the exercise of any Write-Down and Conversion Powers by
the applicable EEA Resolution Authority in respect of any liability of an EEA Financial Institution. 
 “Bail-In Legislation” shall mean, with respect to any EEA Member Country implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing
law for such EEA Member Country from time to time which is described in the EU Bail-In Legislation Schedule. 

“Bankruptcy Code” shall mean the Bankruptcy Code in Title 11 of the United States Code, as amended, modified, succeeded or
replaced from time to time. 
 “Base Rate” shall mean the highest of (i) the per annum rate which the Administrative
Agent announces from time to time to be its prime lending rate, as in effect from time to time, (ii) the Federal Funds Rate, as in effect from time to time, (any changes in such rate 

  
 2 

 
to be effective as of the date of any change in such rate) plus one-half of one percent (0.50%) and (iii) the
one-month Adjusted LIBO Rate, which rate shall be determined on a daily basis (any changes in such rate to be effective as of the date of any change in such rate) plus 100 basis points per annum, which rate
shall be determined on a daily basis. The Administrative Agent’s prime lending rate is a reference rate and does not necessarily represent the lowest or best rate charged to customers. If the Base Rate is being used as an alternate rate of
interest pursuant to Section 2.13 (for the avoidance of doubt, only until any amendment has become effective pursuant to Section 2.13(b)), then for purposes of clause (c) above the Adjusted LIBO Rate on any day shall be deemed to be
zero. The Administrative Agent may make commercial loans or other loans at rates of interest at, above or below the Administrative Agent’s prime lending rate. Each change in the Administrative Agent’s prime lending rate shall be effective
from and including the date such change is publicly announced as being effective. 
 “Benchmark Replacement” means the sum
of: (a) the alternate benchmark rate (which may be a SOFR-Based Rate) that has been selected by the Administrative Agent and the Borrower giving due consideration to (i) any selection or recommendation of a replacement rate or the
mechanism for determining such a rate by the Relevant Governmental Body and/or (ii) any evolving or then-prevailing market convention for determining a rate of interest as a replacement to LIBOR for U.S. dollar-denominated syndicated credit
facilities and (b) the Benchmark Replacement Adjustment; provided that, if the Benchmark Replacement as so determined would be less than zero, the Benchmark Replacement will be deemed to be zero for the purposes of this Agreement;
provided further to the extent any such Benchmark Replacement shall not be administratively feasible as determined by the Administrative Agent in its reasonable discretion, such Benchmark Replacement shall be applied in a manner
otherwise reasonably determined by the Administrative Agent. 
 “Benchmark Replacement Adjustment” means the spread
adjustment, or method for calculating or determining such spread adjustment (which may be a positive or negative value or zero) that has been selected by the Administrative Agent and the Borrower giving due consideration to (a) any selection or
recommendation of a spread adjustment, or method for calculating or determining such spread adjustment, for the replacement of LIBOR with the applicable Unadjusted Benchmark Replacement by the Relevant Governmental Body and/or (b) any evolving
or then-prevailing market convention for determining a spread adjustment, or method for calculating or determining such spread adjustment, for the replacement of LIBOR with the applicable Unadjusted Benchmark Replacement for U.S. dollar-denominated
syndicated credit facilities at such time (for the avoidance of doubt, such Benchmark Replacement Adjustment shall not be in the form of a reduction to the Applicable Margin). 

“Benchmark Replacement Conforming Changes” means, with respect to any Benchmark Replacement, any technical, administrative or
operational changes (including changes to the definition of “Base Rate”, the definition of “Interest Period”, timing and frequency of determining rates and making payments of interest and other administrative matters) that the
Administrative Agent decides in its reasonable discretion may be appropriate to reflect the adoption and implementation of such Benchmark Replacement and to permit the administration thereof by the Administrative Agent in a manner substantially
consistent with market practice (or, if the Administrative Agent decides that adoption of any portion of such market practice is not administratively feasible or if the Administrative Agent determines that no market practice for the administration
of the Benchmark Replacement exists, in such other manner of administration as the Administrative Agent decides is reasonably necessary in connection with the administration of this Agreement). 

  
 3 

 “Benchmark Replacement Date” means the earlier to occur of the following
events with respect to LIBOR: 
 (a) in the case of clause (a) or (b) of the definition of “Benchmark Transition
Event”, the later of (i) the date of the public statement or publication of information referenced therein and (ii) the date on which the administrator of the LIBO Screen Rate permanently or indefinitely ceases to provide the LIBO
Screen Rate; or 
 (b) in the case of clause (c) of the definition of “Benchmark Transition Event”, the date
of the public statement or publication of information referenced therein. 
 “Benchmark Transition Event” means the
occurrence of one or more of the following events with respect to LIBOR: 
 (a) a public statement or publication of
information by or on behalf of the administrator of the LIBO Screen Rate announcing that such administrator has ceased or will cease to provide the LIBO Screen Rate, permanently or indefinitely, provided that, at the time of such statement or
publication, there is no successor administrator that will continue to provide the LIBO Screen Rate; 
 (b) a public
statement or publication of information by the regulatory supervisor for the administrator of the LIBO Screen Rate, the U.S. Federal Reserve System, an insolvency official with jurisdiction over the administrator for the LIBO Screen Rate, a
resolution authority with jurisdiction over the administrator for the LIBO Screen Rate or a court or an entity with similar insolvency or resolution authority over the administrator for the LIBO Screen Rate, in each case which states that the
administrator of the LIBO Screen Rate has ceased or will cease to provide the LIBO Screen Rate permanently or indefinitely, provided that, at the time of such statement or publication, there is no successor administrator that will continue to
provide the LIBO Screen Rate; and/or 
 (c) a public statement or publication of information by the regulatory supervisor for
the administrator of the LIBO Screen Rate announcing that the LIBO Screen Rate is no longer representative. 
 “Benchmark Transition
Start Date” means (a) in the case of a Benchmark Transition Event, the earlier of (i) the applicable Benchmark Replacement Date and (ii) if such Benchmark Transition Event is a public statement or publication of information
of a prospective event, the 90th day prior to the expected date of such event as of such public statement or publication of information (or if the expected date of such prospective event is fewer than 90 days after such statement or publication, the
date of such statement or publication) and (b) in the case of an Early Opt-In Election, the date specified by the Administrative Agent (or, in the event such Early
Opt-in Election has occurred as a result of a determination or election by the Borrower, the Administrative Agent and the Borrower) or the Required Lenders, as applicable, by notice to the Borrower, the
Administrative Agent (in the case of such notice by the Required Lenders) and the Lenders. 
 “Benchmark Unavailability
Period” means, if a Benchmark Transition Event and its related Benchmark Replacement Date have occurred with respect to the LIBO Rate and solely to the extent that the LIBO Rate has not been replaced with a Benchmark Replacement, the period
(a) beginning at the time that such Benchmark Replacement Date has occurred if, at such time, no Benchmark Replacement has replaced the LIBO Rate for all purposes hereunder in accordance with Section 2.13(b) and (b) ending at the time
that a Benchmark Replacement has replaced the LIBOR for all purposes hereunder pursuant to Section 2.13(b). 

  
 4 

 “Board” means the Board of Governors of the Federal Reserve System of the
United States (or any successor). 
 “Borrowing” shall mean a borrowing consisting of 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. 

“Business Day” shall mean (i) any day other than a Saturday, Sunday or other day on which commercial banks in New York,
New York are authorized or required by law to close and (ii) if such day relates to a Borrowing of, a payment or prepayment of principal or interest on, a conversion of or into, or an Interest Period for, a Eurodollar Loan or a notice with
respect to any of the foregoing, any day on which dealings in Dollars are carried on in the London interbank market. 
 “Capital
Stock” shall mean (a) in the case of a corporation, all classes of capital stock of such corporation, (b) in the case of a partnership, partnership interests (whether general or limited), (c) in the case of a limited liability
company, membership interests and (d) any other interest or participation that confers on a Person the right to receive a share of the profits and losses of, or distributions of assets of, the issuing Person. 

“Change in Law” shall mean (i) the adoption of any applicable law, rule or regulation after the date of this Agreement,
(ii) any change in any applicable law, rule or regulation, or any change in the interpretation, implementation or application thereof, by any Governmental Authority after the date of this Agreement, or (iii) compliance by any Lender (or
its Applicable Lending Office) (or, for purposes of Section 2.15(b), by the Parent Company of such Lender, if applicable) 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 for purposes of this Agreement, (x) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines or directives 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 regulatory
authorities, in each case pursuant to Basel III, shall in each case be deemed to be a “Change in Law”, regardless of the date enacted, adopted or issued. 

“Change of Control” shall mean either of the following events: 

(a) any “person” or “group” (within the meaning of Section 13(d) or 14(d) of the Exchange Act) has
become, directly or indirectly, the “beneficial owner” (as defined in Rules 13d-3 (other than subsection (d) thereof) and 13d-5 under the Exchange Act),
by way of merger, consolidation or otherwise of 40% or more of the voting power of the Borrower on a fully-diluted basis, after giving effect to the conversion and exercise of all outstanding warrants, options and other securities of the Borrower
convertible into or exercisable for voting stock of the Borrower (whether or not such securities are then currently convertible or exercisable); or 

(b) during any period of two consecutive calendar years, individuals who at the beginning of such period constituted the board
of directors of the Borrower 

  
 5 

 
together with any new members of such board of directors whose elections by such board of directors or whose nomination for election by the stockholders of the Borrower was approved by a vote of
a majority of the members of such board of directors then still in office who either were directors at the beginning of such period or whose election or nomination for election was previously so approved cease for any reason to constitute a majority
of the directors of the Borrower then in office. 
 “Charges” shall have the meaning set forth in
Section 9.12. 
 “Closing Date” shall mean the date on which the conditions precedent set forth
in Section 3.1 and Section 3.2 have been satisfied or waived in accordance with Section 9.2. 

“Code” shall mean the Internal Revenue Code of 1986, as amended from time to time, and the rules and regulations promulgated
thereunder. 
 “Commitment” shall mean, with respect to each Lender, the obligation of such Lender to make Loans to the
Borrower on the Closing Date in the principal amount not exceeding the amount set forth with respect to such Lender on Schedule II. 

“Compliance Certificate” shall mean a certificate from a Financial Officer of the Borrower in the form of, and containing the
certifications set forth in, the certificate attached hereto as Exhibit 5.1(c). 
 “Compounded SOFR” means the
compounded average of SOFRs for the applicable Corresponding Tenor, with the rate, or methodology for this rate, and conventions for this rate (which may include compounding in arrears with a lookback and/or suspension period as a mechanism to
determine the interest amount payable prior to the end of each Interest Period) being established by the Administrative Agent in accordance with: 

(a) the rate, or methodology for this rate, and conventions for this rate selected or recommended by the Relevant Governmental
Body for determining compounded SOFR; or 
 (b) if, and to the extent that, the Administrative Agent determines that
Compounded SOFR cannot be determined in accordance with clause (a) above, then the rate, or methodology for this rate, and conventions for this rate that the Administrative Agent determines in its reasonable discretion are substantially
consistent with any evolving or then-prevailing market convention for determining compounded SOFR for U.S. dollar-denominated syndicated credit facilities at such time; 

provided that if the Administrative Agent decides that any such rate, methodology or convention determined in accordance with clause
(a) or (b) is not administratively feasible for the Administrative Agent, then Compounded SOFR will be deemed unable to be determined for purposes of the definition of “Benchmark Replacement”. 

“Consolidated Capitalization” shall mean, without duplication, the sum of (a) all of the shareholders’ equity or
net worth of the Borrower and its Subsidiaries on a consolidated basis, as determined in accordance with GAAP plus (b) the aggregate principal amount of Preferred Securities plus (c) the aggregate Minority Interests in Subsidiaries plus
(d) Consolidated Funded Debt. 

  
 6 

 “Consolidated Funded Debt” shall mean, without duplication, the sum of
(a) all indebtedness of the Borrower and its Subsidiaries for borrowed money, (b) all purchase money indebtedness of the Borrower and its Subsidiaries (other than trade accounts payable), (c) the principal portion of all obligations of the
Borrower and its Subsidiaries under capital leases, (d) all commercial letters of credit and all performance and standby letters of credit issued or bankers’ acceptances created for the account of the Borrower or one of its Subsidiaries,
including, without duplication, all unreimbursed draws thereunder, (e) all Guaranty Obligations of the Borrower and its Subsidiaries with respect to funded indebtedness of another Person of the types listed in clauses (a) through (d), (f)
all indebtedness of another entity secured by a Lien on any property of the Borrower or any of its Subsidiaries whether or not such indebtedness has been assumed by the Borrower or any of its Subsidiaries, (g) all indebtedness of any
partnership or unincorporated joint venture to the extent the Borrower or one of its Subsidiaries is legally obligated with respect thereto, net of any assets of such partnership or joint venture and in the case of the Capital Stock of such
partnership or joint venture being held by a Subsidiary, limited to the net worth of such Subsidiary, (h) all obligations of the Borrower and its Subsidiaries to advance or provide funds or other support for the payment or purchase of funded
indebtedness (including, without limitation, maintenance agreements, comfort letters or similar agreements or arrangements) (other than as may be given in respect of Atmos Energy Marketing, LLC (“AEM”)) and (i) the principal balance
outstanding under any synthetic lease, tax retention operating lease, off-balance sheet loan or similar off-balance sheet financing product of the Borrower or one of its
Material Subsidiaries where such transaction is considered borrowed money indebtedness for tax purposes but is classified as an operating lease in accordance with GAAP; provided, however, that (x) neither the indebtedness of AEM
incurred in connection with the purchase of gas by AEM for resale to the Borrower nor the guaranty by the Borrower or one of its Subsidiaries of such indebtedness shall be included in this definition if such indebtedness has been outstanding for
less than two months from the date of its incurrence by AEM and (y) for the purposes of calculating the Debt to Capitalization Ratio, Consolidated Funded Debt will exclude (to the extent otherwise included in Consolidated Funded Debt) (i)
any pension and other post-retirement benefits liability adjustments recorded in accordance with GAAP and (ii) an amount of Hybrid Securities not to exceed a total of 15% of Consolidated Capitalization. 

“Consolidated Net Property” shall mean the Fixed Assets less, without duplication, the amount of accumulated depreciation and
amortization attributable thereto. 
 “Consolidated Net Worth” shall mean, as of any date, (i) the total assets of the
Borrower and its Subsidiaries that would be reflected on the Borrower’s consolidated balance sheet as of such date prepared in accordance with GAAP, after eliminating all amounts properly attributable to minority interests, if any, in the stock
and surplus of Subsidiaries, minus (ii) the total liabilities of the Borrower and its Subsidiaries that would be reflected on the Borrower’s consolidated balance sheet as of such date prepared in accordance with GAAP. 

“Contractual Obligation” of any Person shall mean any provision of any security issued by such Person or of any agreement,
instrument or undertaking under which such Person is obligated or by which it or any of the property in which it has an interest is bound. 

“Corresponding Tenor” with respect to a Benchmark Replacement means a tenor (including overnight) having approximately the
same length (disregarding business day adjustment) as the applicable tenor for the applicable Interest Period with respect to LIBOR. 

“Credit Documents” shall mean, collectively, this Agreement, any promissory notes issued pursuant to this Agreement, the Fee
Letter, all Notices of Borrowing, all Notices of Conversion/Continuation, all Compliance Certificates and any and all other instruments, agreements, documents and writings executed in connection with any of the foregoing. 

  
 7 

 “Credit Exposure” shall mean, with respect to any Lender at any time, the
outstanding principal amount of such Lender’s Loans. 
 “Debt to Capitalization Ratio” shall mean the ratio of
(a) Consolidated Funded Debt to (b) Consolidated Capitalization. 
 “Default” shall mean any act, condition or
event that, with the giving of notice or the lapse of time or both, would constitute an Event of Default. 
 “Defaulting
Lender” shall mean, at any time, subject to Section 2.22, any Lender that, as determined by the Administrative Agent acting in good faith, (a) has failed to fund any portion of its Commitments required to be
funded by it within two Business Days after the date required to be funded by it, unless the subject of a good faith dispute as specified to the Administrative Agent, (b) has otherwise failed to pay over to the Administrative Agent or any other
Lender any other amount required to be paid by it under the Credit Documents within three Business Days after the date when due, unless the subject of a good faith dispute as specified to the Administrative Agent, (c) has notified the Borrower
or the Administrative Agent that it does not intend to comply with its funding obligations or has made a public statement to that effect with respect to its funding obligations under the Credit Documents unless such notification or public statement
relates to such Lender’s obligation to fund any portion of its Commitments hereunder and states that such position is based on such Lender’s determination that a condition precedent to funding cannot be satisfied, (d) has failed,
within three Business Days after request by the Administrative Agent, to confirm to the Administrative Agent that it will comply with its funding obligations; provided that such Lender shall cease to be a Defaulting Lender pursuant to this clause
(d) upon receipt of such confirmation by the Administrative Agent, or (e) as to which a Lender Insolvency Event has occurred and is continuing. 

“Default Interest” shall have the meaning set forth in Section 2.10(b). 

“Dollar(s)” and the sign “$” shall mean lawful money of the United States of America. 

“Early Opt-In Election” means the occurrence of: 

(a) (i) a determination by the Administrative Agent, (ii) a notification by the Borrower to the Administrative Agent that the
Borrower has determined, or (iii) a notification by the Required Lenders to the Administrative Agent (with a copy to Borrower) that the Required Lenders have determined, in each case that U.S. dollar-denominated syndicated credit facilities
being executed at such time, or that include language similar to that contained in Section 2.13(b), are being executed or amended, as applicable, to incorporate or adopt a new benchmark interest rate to replace LIBOR, and 

(b) (i) the election by the Administrative Agent or the Borrower or (ii) the election by the Required Lenders to declare that an
Early Opt-In Election has occurred and the provision, as applicable, by the Administrative Agent of written notice of such election to the Borrower and the Lenders, by the Borrower to the Administrative Agent
or by the Required Lenders of written notice of such election to the Administrative Agent. 

  
 8 

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

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

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

“Environmental Laws” shall mean any current or future legal requirement of any Governmental Authority pertaining to
(a) the protection of health, safety, and the indoor or outdoor environment, (b) the conservation, management, or use of natural resources and wildlife, (c) the protection or use of surface water and groundwater or (d) the
management, manufacture, possession, presence, use, generation, transportation, treatment, storage, disposal, release, threatened release, abatement, removal, remediation or handling of, or exposure to, any hazardous or toxic substance or material
or (e) pollution (including any release to land surface water and groundwater) and includes, without limitation, the Comprehensive Environmental Response, Compensation, and Liability Act of 1980, as amended by the Superfund Amendments and
Reauthorization Act of 1986, 42 USC 9601 et seq., Solid Waste Disposal Act, as amended by the Resource Conservation and Recovery Act of 1976 and Hazardous and Solid Waste Amendment of 1984, 42 USC 6901 et seq., Federal Water Pollution
Control Act, as amended by the Clean Water Act of 1977, 33 USC 1251 et seq., Clean Air Act of 1966, as amended, 42 USC 7401 et seq., Toxic Substances Control Act of 1976, 15 USC 2601 et seq., Hazardous Materials Transportation Act, 49 USC
App. 1801 et seq., Occupational Safety and Health Act of 1970, as amended, 29 USC 651 et seq., Oil Pollution Act of 1990, 33 USC 2701 et seq., Emergency Planning and Community Right-to-Know Act of 1986, 42 USC 11001 et seq., National Environmental Policy Act of 1969, 42 USC 4321 et seq., Safe Drinking Water Act of 1974, as amended, 42 USC 300(f) et seq., any
analogous implementing or successor law, and any amendment, rule, regulation, order, or directive issued thereunder. 

“ERISA” shall mean the Employee Retirement Income Security Act of 1974, as amended, and any successor statute thereto, as
interpreted by the rules and regulations thereunder, all as the same may be in effect from time to time. References to sections of ERISA shall be construed also to refer to any successor sections. 

“ERISA Affiliate” shall mean an entity, whether or not incorporated, which is under common control with the Borrower or any
of its Subsidiaries within the meaning of Section 4001(a)(14) of ERISA, or is a member of a group which includes the Borrower or any of its Subsidiaries and which is treated as a single employer under Sections 414(b), (c), (m), or (o) of
the Code. 
 “EU Bail-In Legislation Schedule” shall mean the EU Bail-In Legislation Schedule published by the Loan Market Association (or any successor person), as in effect from time to time. 

  
 9 

 “Eurodollar” when used in reference to any Loan or Borrowing, refers to
whether such Loan, or the Loans comprising such Borrowing, bears interest at a rate determined by reference to the Adjusted LIBO Rate. 

“Eurodollar Reserve Percentage” shall mean the aggregate of the maximum reserve percentages (including, without limitation,
any emergency, supplemental, special or other marginal reserves) expressed as a decimal (rounded upwards to the next 1/100th of 1%) in effect on any day with respect to the Adjusted LIBO Rate
pursuant to regulations issued by the Board of Governors of the Federal Reserve System (or any Governmental Authority succeeding to any of its principal functions) with respect to eurocurrency funding (currently referred to as “eurocurrency
liabilities” under 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 Regulation D. The Eurodollar Reserve Percentage shall be adjusted automatically on and as of the effective date of any change in any reserve percentage. 

“Event of Default” shall have the meaning provided in Section 7.1. 

“Exchange Act” shall mean the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated
thereunder. 
 “Excluded Taxes” shall mean with respect to the Administrative Agent, any Lender or any
other recipient of any payment to be made by or on account of any obligation of the Borrower hereunder, (a) income or franchise taxes imposed on (or measured by) its net income by the United States of America, or by the jurisdiction under the
laws of which such recipient is organized or in which its principal office is located or, in the case of any Lender, in which its applicable lending office is located, (b) any branch profits taxes imposed by the United States of America or any
similar tax imposed by any other jurisdiction in which any Lender is located and (c) in the case of a Foreign Lender, any withholding tax that (i) is imposed on amounts payable to such Foreign Lender at the time such Foreign Lender becomes
a party to this Agreement, (ii) is imposed on amounts payable to such Foreign Lender at any time that such Foreign Lender designates a new lending office, other than taxes that have accrued prior to the designation of such lending office that
are otherwise not Excluded Taxes, and (iii) is attributable to such Foreign Lender’s failure to comply with Section 2.17(e). 

“FATCA” means Sections 1471 through 1474 of the Code and any current or future regulations or official interpretations
thereof. 
 “Federal Funds Rate” shall mean, for any day, the rate per annum (rounded upwards, if necessary, to the next
1/100th of 1%) equal to the weighted average of the rates on overnight Federal funds transactions with member banks of the Federal Reserve System, as published by the Federal Reserve Bank of New York on the next succeeding Business Day or if such
rate is not so published for any Business Day, the Federal Funds Rate for such day shall be the average (rounded upwards, if necessary, to the next 1/100th of 1%) of the quotations for such day on such transactions received by the Administrative
Agent from three Federal funds brokers of recognized standing selected by the Administrative Agent. 
 “Fee Letter” shall
mean that certain fee letter, dated as of the date hereof, executed by the Administrative Agent and accepted by the Borrower. 

  
 10 

 “Financial Officer” shall mean any one of the chief financial officer, the
controller or the treasurer of the Borrower. 
 “Fixed Assets” shall mean the assets of the Borrower and its Subsidiaries
constituting “net property, plant and equipment” on the consolidated balance sheet of the Borrower and its Subsidiaries. 

“Foreign Lender” shall mean any Lender that is not a United States person under Section 7701(a)(3) of the
Code. 
 “GAAP” shall mean generally accepted accounting principles in the United States applied on a consistent basis and
subject to Section 1.3. 
 “Governmental Authority” shall mean any Federal, state, local or
foreign court or governmental agency, authority, instrumentality or regulatory body. 
 “Guaranty Obligations” shall mean,
with respect to any Person, without duplication, any obligations (other than endorsements in the ordinary course of business of negotiable instruments for deposit or collection) guaranteeing any indebtedness for borrowed money of any other Person in
any manner, whether direct or indirect, and including without limitation any obligation, whether or not contingent, (a) to purchase any such indebtedness or other obligation or any property constituting security therefor, (b) to lease or
purchase property, securities or services primarily for the purpose of assuring the owner of such indebtedness or (c) to otherwise assure or hold harmless the owner of such indebtedness or obligation against loss in respect thereof. The amount
of any Guaranty Obligation hereunder shall (subject to any limitations set forth therein) be deemed to be an amount equal to the outstanding principal amount of the indebtedness in respect of which such Guaranty Obligation is made. 

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

“Hedging Obligations” shall mean any and all obligations of such Person, whether absolute or contingent and howsoever and
whensoever created, arising, evidenced or acquired under (i) any and all Hedging Transactions, (ii) any and all cancellations, buy backs, reversals, terminations or assignments of any Hedging Transactions and (iii) any and all
renewals, extensions and modifications of any Hedging Transactions and any and all substitutions for any Hedging Transactions. 

“Hedging Transaction” shall mean any transaction (including an agreement with respect thereto) now existing or hereafter
entered into by such Person that is a rate swap, basis swap, forward rate transaction, commodity swap, interest rate option, foreign exchange transaction, cap transaction, floor transaction, collateral transaction, forward transaction, currency swap
transaction, cross-currency rate swap transaction, currency option or any other similar transaction (including any option with respect to any of these transactions) or any combination thereof, whether linked to one or more interest rates, foreign
currencies, commodity prices, equity prices or other financial measures. 
 “Hybrid Securities” shall mean any trust
preferred securities, or deferrable interest subordinated debt with a maturity of at least 20 years, which provides for the optional or 

  
 11 

 
mandatory deferral of interest or distributions, issued by the Borrower, or any business trusts, limited liability companies, limited partnerships or similar entities (i) substantially all
of the common equity, general partner or similar interests of which are owned (either directly or indirectly through one or more wholly owned subsidiaries) at all times by the Borrower or any of its subsidiaries, (ii) that have been formed for
the purpose of issuing trust preferred securities or deferrable interest subordinated debt, and (iii) substantially all the assets of which consist of (A) subordinated debt of the Borrower or a subsidiary of the Borrower, and
(B) payments made from time to time on the subordinated debt. 
 “Indemnified Taxes” shall mean Taxes other than
Excluded Taxes. 
 “Interest Period” shall mean with respect to any Eurodollar Borrowing, a period of one,
two, three or six months, or solely with respect to the initial Interest Period on the Closing Date, twelve months; provided, that:  

(i)    the initial Interest Period for such Borrowing shall commence on the date of such Borrowing
(including the date of any conversion from a Borrowing of another Type), and each Interest Period occurring thereafter in respect of such Borrowing shall commence on the day on which the next preceding Interest Period expires; 

(ii)    if any Interest Period would otherwise end on a day other than a Business Day, such Interest Period
shall be extended to the next succeeding Business Day, unless such Business Day falls in another calendar month, in which case such Interest Period would end on the next preceding Business Day; 

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

(iv)    no Interest Period may extend beyond the Maturity Date. 

“Joint Lead Arrangers” shall mean, collectively, Crédit Agricole Corporate and Investment Bank and Canadian Imperial
Bank of Commerce, New York Branch. 
 “Lender Insolvency Event” shall mean that (i) a Lender or its Parent Company is,
or has been, adjudicated as, or determined by any Governmental Authority having regulatory authority over such Person or its assets to be, insolvent, or is generally unable to pay its debts as they become due, or admits in writing its inability to
pay its debts as they become due, or makes a general assignment for the benefit of its creditors, (ii) a Lender or its Parent Company is the subject of a bankruptcy, insolvency, reorganization, liquidation or similar proceeding, or a receiver,
trustee, conservator, custodian or similar Person charged with reorganization or liquidation of its business or assets, including the Federal Deposit Insurance Corporation or any other state or federal regulatory authority acting in such capacity,
has been appointed for such Lender or its Parent Company, or such Lender or its Parent Company has taken any action in furtherance of or indicating its consent to or acquiescence in any such proceeding or appointment, (iii) a Lender or its
Parent Company has become the subject of a Bail-In Action; provided that, for the avoidance of doubt, a Lender Insolvency Event shall not be deemed to have occurred solely by virtue of the ownership or
acquisition of any equity interest in or control of a Lender or a Parent Company thereof by a Governmental Authority or an instrumentality thereof so long as such ownership or acquisition does not result in or provide such Lender with immunity from
the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit such Lender (or such Governmental Authority) to reject, repudiate, disavow or disaffirm any contracts or
agreements made with such Lender. 

  
 12 

 “Lenders” shall have the meaning assigned to such term in the opening
paragraph of this Agreement. 
 “LIBOR” shall mean, for any Interest Period with respect to a Eurodollar Loan, the rate per
annum (rounded upwards, if necessary, to the nearest 1/100 of 1%) appearing on Reuters Screen LIBOR01 Page (or such other commercially available source providing quotations of LIBOR as may be designated by the Administrative Agent from time to time)
as the London interbank offered rate for deposits in Dollars at approximately 11:00 a.m. (London, England time), two Business Days prior to the first day of such Interest Period for a term comparable to such Interest Period; provided that in
no event shall such LIBOR be less than zero. 
 “Lien” shall mean any mortgage, pledge, hypothecation, assignment, deposit
arrangement, security interest, encumbrance, lien (statutory or otherwise), preference, priority or charge of any kind. 
 “Listed
Country” has the meaning set forth in Section 4.17(b). 
 “Loan” shall mean each term
loan made by a Lender to the Borrower on the Closing Date under its Commitment, pursuant to Section 2.1. 

“Material Adverse Effect” shall mean a material adverse effect on (a) the business, assets, liabilities, results of
operations or financial condition of the Borrower and its Subsidiaries, taken as a whole, (b) the ability of the Borrower to perform its obligations under this Agreement or any of the other Credit Documents or (c) the validity or
enforceability of this Agreement, any of the other Credit Documents, or the rights and remedies of the Lenders hereunder or thereunder. 

“Material Subsidiary” shall mean, at any date, a Subsidiary of the Borrower whose aggregate assets properly included under
the category “property, plant and equipment” on the balance sheet of such Subsidiary, less the amount of depreciation and amortization attributable thereto, constitutes at least 10% of Consolidated Net Property as of such date; provided
that if at any time the Borrower has Subsidiaries that are not Material Subsidiaries whose total aggregate assets under the category “property, plant and equipment” on the balance sheet of such Subsidiaries, less the amount of depreciation
and amortization attributable thereto, constitute more than 20% of Consolidated Net Property as of such date the Borrower shall designate one or more of such Subsidiaries as Material Subsidiaries for the purposes of this Agreement in order that all
Subsidiaries of the Borrower, other than Material Subsidiaries, own not more than 20% of Consolidated Net Property. 
 “Maturity
Date” shall mean the earlier of (i) April 9, 2022 and (ii) the date on which all amounts outstanding under this Agreement have been declared or have automatically become due and payable (whether by acceleration or otherwise).

 “Maximum Rate” shall have the meaning set forth in Section 9.12. 

“Minority Interests” shall mean interests owned by Persons (other than the Borrower or a Subsidiary of the Borrower) in a
Subsidiary of the Borrower in which less than 100% of all classes of the voting securities are owned by the Borrower or its Subsidiaries. 

  
 13 

 “Moody’s” shall mean Moody’s Investors Service, Inc., or any
successor or assignee of the business of such company in the business of rating securities. 
 “Multiemployer Plan” shall
mean a Plan covered by Title IV of ERISA which is a multiemployer plan as defined in Section 3(37) or 4001 (a)(3) of
ERISA. 
 “Multiple Employer Plan” shall mean a Plan covered by Title IV of ERISA, other than a Multiemployer Plan,
which the Borrower or any ERISA Affiliate and at least one employer other than the Borrower or any ERISA Affiliate are contributing sponsors. 

“1998 Indenture” shall mean, collectively, that certain Indenture, dated as of July 15, 1998, granted by the Borrower to
US Bank Trust National Association, as Trustee, and all Supplemental Indentures thereto. 

“Non-Defaulting Lender” shall mean, at any time, a Lender that is not a Defaulting
Lender. 
 “Non-Recourse Indebtedness” shall mean, at any time, indebtedness
incurred after the date hereof by the Borrower or a Material Subsidiary in connection with the acquisition of property or assets by the Borrower or such Material Subsidiary or the financing of the construction of or improvements on property,
whenever acquired, that, under the terms of such indebtedness and pursuant to applicable law, the recourse at such time and thereafter of the lenders with respect to such indebtedness is limited to the property or assets so acquired, or such
construction or improvements, and any accession or additions thereto and proceeds thereof, including indebtedness as to which a performance or completion guarantee or similar undertaking was initially applicable to such indebtedness or the related
property or assets if such guarantee or similar undertaking has been satisfied and is no longer in effect at such time. Indebtedness which is otherwise Non-Recourse Indebtedness will not lose its character as Non-Recourse Indebtedness because there is recourse to the Borrower, any Material Subsidiary, any guarantor or any other Person for (a) environmental representations, warranties or indemnities, or
(b) indemnities for and liabilities arising from (i) fraud, (ii) misrepresentation, (iii) misapplication or non-payment of rents, profits, insurance and condemnation proceeds and other sums
actually received from secured assets to be paid to the lender, (iv) waste, (v) materialmen’s and mechanics’ liens or (vi) similar matters. 

“Notice of Borrowing” shall have the meaning set forth in Section 2.3. 

“Notice of Conversion/Continuation” shall mean the notice given by the Borrower to the Administrative Agent in respect
of the conversion or continuation of an outstanding Borrowing as provided in Section 2.5(b). 

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

“Obligations” shall mean all amounts owing by the Borrower to the Administrative Agent or any Lender pursuant to or in
connection with this Agreement or any other Credit Document, including without limitation, all principal, interest (including any interest accruing after the filing of any petition in bankruptcy or the commencement of any insolvency, reorganization
or like proceeding relating to the Borrower, whether or not a claim for post-filing or post-petition interest is allowed in such proceeding), all reimbursement obligations, fees, expenses, indemnification and reimbursement payments, costs and
expenses (including all reasonable fees and expenses of counsel to the Administrative Agent and any Lender incurred 

  
 14 

 
pursuant to this Agreement or any other Credit Document), whether direct or indirect, absolute or contingent, liquidated or unliquidated, now existing or hereafter arising hereunder or
thereunder, and all Hedging Obligations owed to the Administrative Agent, any Lender or any of their Affiliates incurred in order to limit interest rate or fee fluctuation with respect to the Loans, and all obligations and liabilities incurred in
connection with collecting and enforcing the foregoing, together with all renewals, extensions, modifications or refinancings thereof. 

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

“Other Taxes” shall mean 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, this Agreement or any other Credit Document. 

“Parent Company” shall mean, with respect to a Lender, the bank holding company (as defined in Federal Reserve Board
Regulation Y), if any, of such Lender, and/or any Person owning, beneficially or of record, directly or indirectly, a majority of the shares of such Lender. 

“Participant” shall have the meaning set forth in Section 9.4(d). 

“Payment Office” shall mean the office of the Administrative Agent located at 1301 Avenue of the Americas, New York, NY
10019, or such other location as to which the Administrative Agent shall have given written notice to the Borrower and the other Lenders. 

“PBGC” shall mean the Pension Benefit Guaranty Corporation established pursuant to Subtitle A of Title IV of ERISA and any
successor thereto. 
 “Permitted Lien” shall mean, with respect to any asset, the Liens permitted to exist on such asset
under Section 6.6. 
 “Person” shall mean any individual, partnership, joint venture, firm,
corporation, association, trust, limited liability company or other enterprise (whether or not incorporated), or any government or political subdivision or any agency, department or instrumentality thereof. 

“Physical Trade Contract” shall mean any agreement that is for the purchase, sale, transfer or exchange of natural gas or any
other similar transaction (including any option to enter into any of the foregoing) or any combination of the foregoing and any master agreement relating to or governing any or all of the foregoing, in each case entered into in the ordinary course
of business. 
 “Physical Trade Obligations” shall mean any and all obligations of such Person, whether absolute or
contingent and howsoever and whensoever created, arising, evidenced or acquired under (i) any and all Physical Trade Contracts, (ii) any and all cancellations, buy backs, reversals, terminations or assignments of any Physical Trade
Contracts and (iii) any and all renewals, extensions and modifications of any Physical Trade Contracts and any and all substitutions for any Physical Trade Contracts. 

“Plan” shall mean any employee benefit plan (as defined in Section 3(3) of ERISA) which is covered by ERISA and with
respect to which the Borrower or any ERISA Affiliate is (or, if such plan were terminated at such time, would under Section 4069 of ERISA be deemed to be) an “employer” within the meaning of Section 3(5) of ERISA. 

  
 15 

 “Preferred Securities” shall mean, at any date, any equity interests in the
Borrower, in a Special Purpose Financing Subsidiary of the Borrower or in any other Subsidiary of the Borrower (such as those known as “TECONS”, “MIPS” or “RHINOS”): (a) that are not (i) required to be redeemed or
redeemable at the option of the holder thereof prior to the fifth anniversary of the Commitment Termination Date (as defined in the Principal Revolving Credit Agreement) or (ii) convertible into or exchangeable for (unless solely at the option
of the Borrower or such Subsidiary of the Borrower) equity interests referred to in clause (i) above or indebtedness having a scheduled maturity, or requiring any repayments or prepayments of principal or any sinking fund or similar payments in
respect of principal or providing for any such repayment, prepayment, sinking fund or other payment at the option of the holder thereof prior to the fifth anniversary of the Commitment Termination Date (as defined in the Principal Revolving Credit
Agreement) and (b) as to which, at such date, the Borrower or such Subsidiary of the Borrower has the right to defer the payment of all dividends and other distributions in respect thereof for the period of at least 19 consecutive quarters
beginning at such date. 
 “Principal Revolving Credit Agreement” shall mean that certain Revolving Crédit Agreement
dated as of September 25, 2015 among the Borrower, Crédit Agricole Corporate and Investment Bank, as administrative agent, and the lenders from time to time parties thereto, as amended, restated, supplemented, refinanced, replaced, or
otherwise modified from time to time. 
 “Pro Rata Share” shall mean with respect to any Commitment of any Lender at any
time, a percentage, the numerator of which shall be such Lender’s Commitment (or if such Commitments have been terminated or expired or the Loans have been declared to be due and payable, such Lender’s Credit Exposure), and the denominator
of which shall be the sum of such Commitments of all Lenders (or if such Commitments have been terminated or expired or the Loans have been declared to be due and payable, all Credit Exposure of all Lenders). 

“Rating Category” shall mean the applicable credit ratings categories given to the Borrower by Moody’s and S&P as
set forth on Schedule I. 
 “Register” shall have the meaning set forth in
Section 9.4(c). 
 “Regulation D, T, U, or X” shall mean Regulation D, T, U or X, respectively,
of the Board of Governors of the Federal Reserve System (or any successor body) as from time to time in effect, any amendment thereto and any successor to all or a portion thereof. 

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

“Release” shall mean any release, spill, emission, leaking, dumping, injection, pouring, deposit, disposal, discharge,
dispersal, leaching or migration into the environment (including ambient air, surface water, groundwater, land surface or subsurface strata) or within any building, structure, facility or fixture. 

  
 16 

 “Relevant Governmental Body” means the Board and/or the NYFRB, or a
committee officially endorsed or convened by the Board and/or the NYFRB or, in each case, any successor thereto. 
 “Reportable
Event” shall mean a “reportable event” as defined in Section 4043 of ERISA with respect to which the notice requirements to the PBGC have not been waived. 

“Required Lenders” shall mean, at any time, Lenders holding more than 50% of the aggregate outstanding Commitments of the
Lenders at such time or if the Lenders have no Commitments outstanding, then Lenders holding more than 50% of the Credit Exposure of the Lenders; provided however, that to the extent that any Lender is a Defaulting Lender, such Defaulting Lender and
all of its Commitments and Credit Exposure shall be excluded for purposes of determining Required Lenders. 
 “Requirement of
Law” for any Person shall mean the articles or certificate of incorporation, bylaws, partnership certificate and agreement, or limited liability company certificate of organization and agreement, as the case may be, and other organizational
and governing documents of such Person, and any law, treaty, rule or regulation, or determination of a Governmental Authority, in each case applicable to or binding upon such Person or any of its property or to which such Person or any of its
property is subject. 
 “S&P” shall mean Standard & Poor’s Ratings Services, a division of The
McGraw-Hill Companies, Inc., or any successor or assignee of the business of such division in the business of rating securities. 

“Sanctions Lists” shall have the meaning assigned to such term in Section 4.14. 

“SEC” shall mean the Securities and Exchange Commission or any successor agency. 

“Single Employer Plan” shall mean any Plan which is covered by Title IV of ERISA, but which is not a Multiemployer Plan or a
Multiple Employer Plan. 
 “SOFR” with respect to any day means the secured overnight financing rate published for such day
by the NYFRB, as the administrator of the benchmark (or a successor administrator), on the website of the NYFRB at http://www.newyorkfed.org, or any successor source. 

“SOFR-Based Rate” means SOFR, Compounded SOFR or Term SOFR. 

“Special Purpose Financing Subsidiary” shall mean a Subsidiary of the Borrower that has no direct or indirect interest in the
business of the Borrower and its other Subsidiaries and was formed solely for the purpose of issuing Preferred Securities. 

“Subsidiary” shall mean, as to any Person, (a) any corporation more than 50% of whose stock of any class or classes
having by the terms thereof ordinary voting power to elect a majority of the directors of such corporation (irrespective of whether or not, at the time, any class or classes of such corporation shall have or might have voting power by reason of the
happening of any contingency) is at the time owned by such Person directly or indirectly through Subsidiaries and (b) any partnership, association, joint venture, limited liability company or other entity in which such Person directly or
indirectly through Subsidiaries has more than 50% voting equity interest at any time. 

  
 17 

 “Syndication Agent” shall mean Canadian Imperial Bank of Commerce, New York
Branch. 
 “Taxes” shall mean any and all present or future taxes, levies, imposts, duties, deductions, charges or
withholdings imposed by any Governmental Authority. 
 “Term SOFR” means the forward-looking term rate based on SOFR that
has been selected or recommended by the Relevant Governmental Body. 
 “Termination Event” shall mean (a) with respect
to any Single Employer Plan, the occurrence of a Reportable Event or the substantial cessation of operations (within the meaning of Section 4062(e) of ERISA), (b) the withdrawal of the Borrower or any ERISA Affiliate from a Multiple Employer
Plan during a plan year in which it was a substantial employer (as such term is defined in Section 4001(a)(2) of ERISA), or the termination of a Multiple Employer Plan, (c) the distribution of a notice of intent to terminate or the actual
termination of a Plan pursuant to Section 4041(a)(2) or 4041A of ERISA, (d) the institution of proceedings to terminate or the actual termination of a Plan by the PBGC under Section 4042 of ERISA, (e) any event or condition which
might reasonably constitute grounds under Section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any Plan, or (f) the complete or partial withdrawal of the Borrower or any ERISA Affiliate from a
Multiemployer Plan. 
 “Total Assets” shall mean all assets of the Borrower and its Subsidiaries as shown on its most
recent quarterly consolidated balance sheet, as determined in accordance with GAAP. 
 “2001 Indenture” shall mean,
collectively, that certain Indenture, dated as of May 22, 2001, granted by the Borrower to SunTrust Bank, Atlanta, as Trustee, and all Supplemental Indentures thereto. 

“2007 Indenture” shall mean, collectively, that certain Indenture, dated
as of June 14, 2007, granted by the Borrower to U.S. Bank National Association, as Trustee, and all Supplemental Indentures, if any, thereto. 

“2009 Indenture” shall mean, collectively, that certain Indenture, dated as of March 26, 2009, granted by the Borrower
to U.S. Bank National Association, as Trustee, and all Supplemental Indentures, if any, thereto. 
 “Type”, when used in
reference to a 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 Base Rate.  

“Unadjusted Benchmark Replacement” means the Benchmark Replacement excluding the Benchmark Replacement Adjustment; provided
that, if the Unadjusted Benchmark Replacement as so determined would be less than zero, the Unadjusted Benchmark Replacement will be deemed to be zero for the purposes of this Agreement. 

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

  
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 Section 1.2.    Classifications of Loans
and Borrowings. For purposes of this Agreement, Loans may be classified and referred to by Type (e.g. a “Eurodollar Loan”, or “Base Rate Loan”). Borrowings also may be classified and referred to by Type (e.g.
“Eurodollar Borrowing”). 
 Section 1.3.    Accounting Terms and
Determination. Unless otherwise defined or specified herein, all accounting terms used herein shall be interpreted, all accounting determinations hereunder shall be made, and all financial statements required to be delivered hereunder shall
be prepared, in accordance with GAAP as in effect from time to time, applied on a basis consistent with the most recent audited consolidated financial statements of the Borrower delivered pursuant to Section 5.1(a);
provided, that if the Borrower notifies the Administrative Agent that the Borrower wishes to amend the covenant in Section 5.2 to eliminate the effect of any change in GAAP on the operation of such covenant (or if
the Administrative Agent notifies the Borrower that the Required Lenders wish to amend Section 5.2 for such purpose), then the Borrower’s compliance with such covenant shall be determined on the basis of GAAP in effect
immediately before the relevant change in GAAP became effective, until either such notice is withdrawn or such covenant is amended in a manner satisfactory to the Borrower and the Required Lenders. Notwithstanding any other provision contained
herein, all terms of an accounting or financial nature used herein shall be construed, and all computations of amounts and ratios referred to herein shall be made, without giving effect to any election under Accounting Standards Codification Section 825-10 (or any other Financial Accounting Standard having a similar result or effect) to value any Consolidated Funded Indebtedness or other liabilities of the Borrower or any Subsidiary of the Borrower
at “fair value”, as defined therein. 
 Section 1.4.    Terms
Generally. The definitions of terms herein shall apply equally to the singular and plural forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms.
The words “include”, “includes” and “including” shall be deemed to be followed by the phrase “without limitation”. The word “will” shall be construed to have the same meaning and effect as the word
“shall”. 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 word “to” means “to but excluding”. Unless the
context requires otherwise (i) any definition of or reference to any agreement, instrument or other document herein shall be construed as referring to such agreement, instrument or other document as it was originally executed or as it may from
time to time be amended, restated, supplemented or otherwise modified (subject to any restrictions on such amendments, supplements or modifications set forth herein), (ii) any reference herein to any Person shall be construed to include such
Person’s successors and permitted assigns, (iii) the words “hereof”, “herein” and “hereunder” and words of similar import shall be construed to refer to this Agreement as a whole and not to any particular
provision hereof, (iv) all references to Articles, Sections, Exhibits and Schedules shall be construed to refer to Articles, Sections, Exhibits and Schedules to this Agreement and (v) all references to a specific time shall be construed to
refer to the time in the city and state of the Administrative Agent’s principal office, unless otherwise indicated. 

  
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 ARTICLE II 

AMOUNT AND TERMS OF THE COMMITMENTS 

Section 2.1.    Reserved. 

Section 2.2.    Loans. Subject to the terms and conditions set forth herein, each
Lender severally agrees to make a term loan in Dollars, ratably in proportion to its Pro Rata Share, to the Borrower, on the Closing Date in an aggregate principal amount outstanding equal to such Lender’s Commitment. The Borrower may not
reborrow any Loans that are repaid. 
 Section 2.3.    Procedure for Borrowings.
The Borrower shall give the Administrative Agent written notice of the Borrowing substantially in the form of Exhibit 2.3 (the “Notice of Borrowing”) on the Closing Date. The Notice of Borrowing shall be irrevocable and
shall specify: (i) the aggregate principal amount of such Borrowing, (ii) the Type of such Loan comprising such Borrowing and (iii) in the case of a Eurodollar Borrowing, the duration of the initial Interest Period applicable
thereto (subject to the provisions of the definition of Interest Period). Each Borrowing shall consist entirely of Base Rate Loans or Eurodollar Loans, as the Borrower may request. The aggregate principal amount of each Eurodollar Borrowing shall be
not less than $5,000,000 or a larger multiple of $1,000,000, and the aggregate principal amount of each Base Rate Borrowing shall not be less than $1,000,000 or a larger multiple of $100,000; provided, that Base Rate Loans made pursuant to
Section 2.4 may be made in lesser amounts as provided therein. At no time shall the total number of Eurodollar Borrowings outstanding exceed six. Promptly following the receipt of the Notice of Borrowing in accordance
herewith, the Administrative Agent shall advise each Lender of the details thereof and the amount of such Lender’s Loan to be made as part of the requested Borrowing. 

Section 2.4.    Funding of Borrowings. 

(a)    Each Lender will make available the Loan to be made by it hereunder on the Closing Date by wire transfer in
immediately available funds by 12:00 noon (New York time) to the Administrative Agent at the Payment Office. The Administrative Agent will make the Loans available to the Borrower by promptly crediting the amounts that it receives, in like
funds by the close of business on such proposed date, to an account maintained by the Borrower with the Administrative Agent or at the Borrower’s option, by effecting a wire transfer of such amounts to an account designated by the Borrower to
the Administrative Agent. 
 (b)    Unless the Administrative Agent shall have been notified by any Lender prior to 5:00
p.m. (New York time) one (1) Business Day prior to the Closing Date that such Lender will not make available to the Administrative Agent such Lender’s Loan, the Administrative Agent may assume that such Lender has made such amount
available to the Administrative Agent on such date, and the Administrative Agent, in reliance on such assumption, may make available to the Borrower on such date a corresponding amount. If such corresponding amount is not in fact made available to
the Administrative Agent by such Lender on the Closing Date, the Administrative Agent shall be entitled to recover such corresponding amount on demand from such Lender together with interest at the Federal Funds Rate until the second Business Day
after such demand and thereafter at the Base Rate. If such Lender does not pay such corresponding amount forthwith upon the Administrative Agent’s demand therefor, the Administrative Agent shall promptly notify the Borrower, and the Borrower
shall immediately pay such corresponding amount to the Administrative Agent together with interest at the rate specified for the Loans. Nothing in this subsection shall be deemed to relieve any Lender from its obligation to fund its Pro Rata Share
of the Borrowing on the Closing Date hereunder or to prejudice any rights which the Borrower may have against any Lender as a result of any default by such Lender hereunder. 

  
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 (c)    All Borrowings shall be funded by the Lenders severally on the
basis of their respective Pro Rata Shares. No Lender shall be responsible for any default by any other Lender in its obligations hereunder, and each Lender shall be obligated to make its Loans provided to be made by it hereunder, regardless of the
failure of any other Lender to make its Loans hereunder. 
 Section 2.5.    Interest Elections. 

(a)    The Borrowing on the Closing Date initially shall be of the Type specified in the Notice of Borrowing, and in the
case of a Eurodollar Borrowing, shall have an initial Interest Period as specified in such Notice of Borrowing. Thereafter, the Borrower may elect to convert such Borrowing into 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 2.5. 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 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 2.5, the Borrower shall give the
Administrative Agent prior written notice (or telephonic notice promptly confirmed in writing) of each Borrowing substantially in the form of Exhibit 2.5 attached hereto (a “Notice of Conversion/Continuation”) that is to be
converted or continued, as the case may be, (x) prior to 11:00 a.m. (New York time) one (1) Business Day prior to the requested date of a conversion into a Base Rate Borrowing and (y) prior to 11:00 a.m. (New York time)
three (3) Business Days prior to a continuation of or conversion into a Eurodollar Borrowing. Each such Notice of Conversion/Continuation shall be irrevocable and shall specify (i) the Borrowing to which such Notice of
Conversion/Continuation applies and if different options are being elected with respect to different portions thereof, the portions thereof that are to be allocated to each resulting Borrowing (in which case the information to be specified pursuant
to clauses (iii) and (iv) shall be specified for each resulting Borrowing); (ii) the effective date of the election made pursuant to such Notice of Conversion/Continuation, which shall be a Business Day, (iii) whether the resulting
Borrowing is to be a Base Rate Borrowing or a Eurodollar Borrowing; and (iv) if the resulting Borrowing is to be a Eurodollar Borrowing, the Interest Period applicable thereto after giving effect to such election, which shall be a period
contemplated by the definition of “Interest Period”. If any such Notice of Conversion/Continuation requests a Eurodollar Borrowing but does not specify an Interest Period, the Borrower shall be deemed to have selected an Interest Period of
one month. The principal amount of any resulting Borrowing shall satisfy the minimum borrowing amount for Eurodollar Borrowings and Base Rate Borrowings set forth in Section 2.3. 

(c)    If, on the expiration of any Interest Period in respect of any Eurodollar Borrowing, the Borrower shall have failed
to deliver a Notice of Conversion/Continuation, then, unless such Borrowing is repaid as provided herein, the Borrower shall be deemed to have elected to convert such Borrowing to a Base Rate Borrowing. No Borrowing may be converted into, or
continued as, a Eurodollar Borrowing if a Default or an Event of Default exists, unless the Administrative Agent and each of the Lenders shall have otherwise consented in writing. No conversion of any Eurodollar Loans shall be permitted except on
the last day of the Interest Period in respect thereof.  
 (d)    Upon receipt of any Notice of
Conversion/Continuation, the Administrative Agent shall promptly notify each Lender of the details thereof. 

  
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 Section 2.6.    Termination of
Commitments. All Commitments shall terminate on the Closing Date upon funding of the Loans. 

Section 2.7.    Repayment of Loans.    The
outstanding principal amount of all Loans shall be due and payable in full (together with accrued and unpaid interest thereon) on the Maturity Date. 

Section 2.8.    Evidence of Indebtedness. 

(a) Each Lender shall maintain in accordance with its usual practice appropriate records evidencing the indebtedness of the Borrower to such
Lender resulting from the Loan made by such Lender, including the amounts of principal and interest payable thereon and paid to such Lender from time to time under this Agreement. The Administrative Agent shall maintain appropriate records
in which shall be recorded (i) the Commitment of each Lender, (ii) the amount of the Loan made hereunder by each Lender, the Type thereof and the Interest Period applicable thereto, (iii) the date of each continuation thereof
pursuant to Section 2.5, (iv) the date of each conversion of all or a portion thereof to another Type pursuant to Section 2.5, (v) the date and amount of any principal or interest due and
payable or to become due and payable from the Borrower to each Lender hereunder in respect of such Loans and (vi) both the date and amount of any sum received by the Administrative Agent hereunder from the Borrower in respect of the Loans and
each Lender’s Pro Rata Share thereof. The entries made in such records shall be prima facie evidence of the existence and amounts of the obligations of the Borrower therein recorded; provided, that the failure or delay of any
Lender or the Administrative Agent in maintaining or making entries into any such record or any error therein shall not in any manner affect the obligation of the Borrower to repay the Loans (both principal and unpaid accrued interest) of such
Lender in accordance with the terms of this Agreement. 
 (b) This Agreement evidences the obligation of the Borrower to repay the Loans and
is being executed as a “noteless” credit agreement. However, at the request of any Lender at any time, the Borrower agrees that it will prepare, execute and deliver to such Lender a promissory note payable to the order of such Lender (or,
if requested by such Lender, to such Lender and its registered assigns) and in a form approved by the Administrative Agent. Thereafter, the Loans evidenced by such promissory note and interest thereon shall at all times (including after assignment
permitted hereunder) be represented by one or more promissory notes in such form payable to the order of the payee named therein (or, if such promissory note is a registered note, to such payee and its registered assigns). 

Section 2.9.    Prepayments. 

At any time after the first anniversary of the Closing Date, the Borrower shall have the right at any time and from time to time to prepay any
Borrowing, in whole or in part, without premium or penalty, by giving irrevocable written notice (or telephonic notice promptly confirmed in writing) to the Administrative Agent no later than (i) in the case of prepayment of any Eurodollar
Borrowing, 11:00 a.m. (New York time) not less than three (3) Business Days prior to any such prepayment, and (ii) in the case of any prepayment of any Base Rate Borrowing, not less than one Business Day prior to the date of such
prepayment. Each such notice shall be irrevocable and shall specify the proposed date of such prepayment and the principal amount of each Borrowing or portion thereof to be prepaid. Upon receipt of any such notice, the Administrative Agent shall
promptly notify each affected Lender of the contents thereof and of such Lender’s Pro Rata Share of any such prepayment. If such notice is given, the aggregate amount specified in such notice shall be due and payable on the date designated in
such notice, 

  
 22 

 
together with accrued interest to such date on the amount so prepaid in accordance with Section 2.10(c); provided, that if a Eurodollar Borrowing is prepaid on a
date other than the last day of an Interest Period applicable thereto, the Borrower shall also pay all amounts required pursuant to Section 2.16. Each partial prepayment of any Loan shall be in an amount that would be
permitted in the case of an advance of a Borrowing of the same Type pursuant to Section 2.3. Each prepayment of a Borrowing shall be applied ratably to the Loans comprising such Borrowing. Notwithstanding anything set forth
herein to the contrary, the outstanding principal amount of all Loans shall remain outstanding for a period of at least one (1) year from the Borrowing of such Loans. 

Section 2.10.    Interest on Loans. 

(a)    The Borrower shall pay interest on each Base Rate Loan at the Base Rate in effect from time to time and on each
Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, the Applicable Margin in effect from time to time. 

(b)    Upon the occurrence, and during the continuation, of an Event of Default under
Section 7.1(a) or, at the option of the Required Lenders, any other Event of Default, the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar Loans at the rate otherwise
applicable for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans and all other Obligations hereunder (other than Loans), at an all-in rate in effect for Base Rate Loans, plus an additional 2% per annum. 

(c)    Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but
excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Maturity Date. Interest on all outstanding
Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three months, on each day which occurs every three months after the initial
date of such Interest Period, and on the Maturity Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or
prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand. 
 (d)    The
Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall
be conclusive and binding for all purposes, absent manifest error. 

Section 2.11.    Fees. The Borrower shall pay to the Administrative Agent for its
own account fees in the amounts and at the times set forth in the Fee Letter.  

Section 2.12.    Computation of Interest and Fees. Interest hereunder based
on the Administrative Agent’s prime lending rate shall be computed on the basis of a year of 365 days (or 366 days in a leap year) and paid for the actual number of days elapsed (including the first day but excluding the last day). All other
interest and all fees shall be computed on the basis of a year of 360 days and paid for the actual number of days elapsed (including the first day but excluding the last day) Each determination by the Administrative Agent of an interest amount or
fee hereunder shall be made in good faith and, except for manifest error, shall be final, conclusive and binding for all purposes. 

  
 23 

 Section 2.13.    Inability to Determine
Interest Rates. (a) If prior to the commencement of any Interest Period for any Eurodollar Borrowing, 

(i)    the Administrative Agent shall have determined in good faith (which determination shall be
conclusive and binding upon the Borrower) that, by reason of circumstances affecting the relevant interbank market, adequate means do not exist for ascertaining LIBOR for such Interest Period, or 

(ii)    the Administrative Agent shall have received notice from the Required Lenders that the Adjusted
LIBO Rate does not adequately and fairly reflect the cost to such Lenders of making, funding or maintaining their Eurodollar Loans for such Interest Period, 

the Administrative Agent shall give written notice (or telephonic notice, promptly confirmed in writing) to the Borrower and to the Lenders as soon as
practicable thereafter. Until the Administrative Agent shall notify the Borrower and the Lenders that the circumstances giving rise to such notice no longer exist, (i) the obligations of the Lenders to make Eurodollar Loans or to continue or
convert outstanding Loans as or into Eurodollar Loans shall be suspended and (ii) all such affected Loans shall be converted into Base Rate Loans on the last day of the then current Interest Period applicable thereto unless the Borrower prepays
such Loans in accordance with this Agreement. Unless the Borrower notifies the Administrative Agent at least one Business Day before the date of any Eurodollar Borrowing for which a Notice of Borrowing has previously been given that it elects not to
borrow on such date, then such Borrowing shall be made as a Base Rate Borrowing.  
 (b)     

(i)     Notwithstanding anything to the contrary herein, upon the occurrence of a Benchmark Transition
Event or an Early Opt-In Election, as applicable, the Administrative Agent and the Borrower may amend this Agreement to replace LIBOR with a Benchmark Replacement. Any such amendment with respect to a
Benchmark Transition Event will become effective at 5:00 p.m. (New York City time) on the fifth Business Day after the Administrative Agent has posted such proposed amendment to all Lenders, so long as the Administrative Agent has not received, by
such time, written notice of objection to such proposed amendment from Lenders comprising the Required Lenders; provided that, with respect to any proposed amendment containing any SOFR-Based Rate, the Lenders shall be entitled to object only to the
Benchmark Replacement Adjustment contained therein. Any such amendment with respect to an Early Opt-In Election will become effective on the date that Lenders comprising the Required Lenders have delivered to
the Administrative Agent written notice that such Required Lenders consent to such amendment. No replacement of LIBOR with a Benchmark Replacement will occur prior to the applicable Benchmark Transition Start Date. 

(ii)    In connection with the implementation of a Benchmark Replacement, the Administrative Agent will
have the right to make Benchmark Replacement Conforming Changes from time to time and, 

  
 24 

 
notwithstanding anything to the contrary herein or in any Note, any amendments implementing such Benchmark Replacement Conforming Changes will become effective without any further action or
consent of any other party to this Agreement. 
 (iii)    The Administrative Agent will promptly notify
the Borrower and the Lenders of (A) any occurrence of a Benchmark Transition Event or an Early Opt-in Election, as applicable, (B) the implementation of any Benchmark Replacement, (C) the
effectiveness of any Benchmark Replacement Conforming Changes and (D) the commencement or conclusion of any Benchmark Unavailability Period. 

(iv)    Upon receipt by the Borrower of notice of the commencement of a Benchmark Unavailability Period,
the provisions of clauses (i) and (ii) of the final paragraph Section 2.13(a) shall apply as to all Eurodollar Loans, mutatis mutandis. 

(v)    Any determination, decision or election that may be made by the Administrative Agent, the Borrower
or Lenders pursuant to this Section 2.13(b), including any determination with respect to a tenor, rate or adjustment or of the occurrence or non-occurrence of an event, circumstance or date and any
decision to take or refrain from taking any action, will be conclusive and binding absent manifest error and may be made in its or their sole discretion and without consent from any other party hereto, except, in each case, as expressly required
pursuant to this Section 2.13(b). 
 Section 2.14.    Illegality. If
any Change in Law shall make it unlawful or impossible for any Lender to make, maintain or fund any Eurodollar Loan and such Lender shall so notify the Administrative Agent, the Administrative Agent shall promptly give notice thereof to the Borrower
and the other Lenders, whereupon until such Lender notifies the Administrative Agent and the Borrower that the circumstances giving rise to such suspension no longer exist, the obligation of such Lender to make Eurodollar Loans, or to continue or
convert outstanding Loans as or into Eurodollar Loans, shall be suspended. In the case of the making of a Eurodollar Borrowing, such Lender’s Loan shall be made as a Base Rate Loan as part of the same Borrowing for the same Interest Period and
if the affected Eurodollar Loan is then outstanding, such Loan shall be converted to a Base Rate Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Loan if such Lender may lawfully continue to
maintain such Loan to such date or (ii) immediately if such Lender shall determine that it may not lawfully continue to maintain such Eurodollar Loan to such date. Notwithstanding the foregoing, the affected Lender shall, prior to giving such
notice to the Administrative Agent, designate a different Applicable Lending Office if such designation would avoid the need for giving such notice and if such designation would not otherwise be disadvantageous to such Lender in the good faith
exercise of its discretion. 
 Section 2.15.    Increased Costs. 

(a)    If any Change in Law shall: 

(i)    impose, modify or deem applicable any reserve, special deposit or similar requirement that is not
otherwise included in the determination of the Adjusted LIBO Rate hereunder 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
 

  
 25 

 (ii)    impose on any Lender or the eurodollar interbank
market any other condition affecting this Agreement or any Eurodollar Loans made by such Lender; 
 and the result of either of the foregoing is to increase
the cost to such Lender of making, converting into, continuing or maintaining a Eurodollar Loan or to reduce the amount received or receivable by such Lender hereunder (whether of principal, interest or any other amount), then the Borrower shall
promptly pay, upon written notice from and demand by such Lender on the Borrower (with a copy of such notice and demand to the Administrative Agent), to the Administrative Agent for the account of such Lender, within five Business Days after the
date of such notice and demand, additional amount or amounts sufficient to compensate such Lender for such additional costs incurred or reduction suffered. 

(b)    If any Lender shall have determined that on or after the date of this Agreement any Change in Law regarding capital
or liquidity requirements has or would have the effect of reducing the rate of return on such Lender’s capital (or on the capital of the Parent Company of such Lender) as a consequence of its obligations hereunder to a level below that which
such Lender or the Parent Company of such Lender could have achieved but for such Change in Law (taking into consideration such Lender’s policies or the policies of the Parent Company of such Lender with respect to capital adequacy or
liquidity) then, from time to time, within five (5) Business Days after receipt by the Borrower of written demand by such Lender (with a copy thereof to the Administrative Agent), the Borrower shall pay to such Lender such additional amounts as
will compensate such Lender or the Parent Company of such Lender for any such reduction suffered. 
 (c)    A certificate
of a Lender setting forth the amount or amounts necessary to compensate such Lender or the Parent Company of such Lender, as the case may be, specified in paragraph (a) or (b) of this Section 2.15 shall be delivered to
the Borrower (with a copy to the Administrative Agent) and shall be conclusive, absent manifest error. The Borrower shall pay any such Lender such amount or amounts within 10 days after receipt thereof. 

(d)    Failure or delay on the part of any Lender to demand compensation pursuant to this
Section 2.15 shall not constitute a waiver of such Lender’s right to demand such compensation. 

Section 2.16.    Funding Indemnity. In the event of (a) the payment of any
principal of a Eurodollar Loan other than on the last day of the Interest Period applicable thereto (including as a result of an Event of Default), (b) the conversion or continuation of a Eurodollar Loan other than on the last day of the Interest
Period applicable thereto, or (c) the failure by the Borrower to borrow, prepay, convert or continue any Eurodollar Loan on the date specified in any applicable notice (regardless of whether such notice is withdrawn or revoked), then, in any
such event, the Borrower shall compensate each Lender, within five (5) Business Days after written demand from such Lender, for any loss, reasonable cost or expense directly attributable to such event. In the case of a Eurodollar Loan, such
loss, cost or expense shall be deemed to include an amount determined by such Lender to be the excess, if any, of (A) the amount of interest that would have accrued on the principal amount of such Eurodollar Loan if such event had not occurred
at the Adjusted LIBO Rate applicable to such Eurodollar 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 

  
 26 

 
failure to borrow, convert or continue, for the period that would have been the Interest Period for such Eurodollar Loan) over (B) the amount of interest that would accrue on the principal
amount of such Eurodollar Loan for the same period if the Adjusted LIBO Rate were set on the date such Eurodollar Loan was prepaid or converted or the date on which the Borrower failed to borrow, convert or continue such Eurodollar Loan. A
certificate as to any additional amount payable under this Section 2.16 submitted to the Borrower by any Lender (with a copy to the Administrative Agent) shall be conclusive, absent manifest error. 

Section 2.17.    Taxes. 

(a)    Any and all payments by or on account of any obligation of the Borrower hereunder shall be made free and clear of
and without deduction for any Indemnified Taxes or Other Taxes; provided, that if the Borrower shall be required 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 (including deductions applicable to additional sums payable under this Section 2.17) the Administrative Agent or any Lender (as the case may be) shall receive an amount equal to
the sum it would have received had no such deductions been made, (ii) the Borrower shall make such deductions 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. 
 (c)    The Borrower shall indemnify the Administrative Agent and each Lender, within five
(5) Business Days after written demand therefor, for the full amount of any Indemnified Taxes or Other Taxes paid by the Administrative Agent or such Lender, as the case may be, on or with respect to any payment by or on account of any
obligation of the Borrower hereunder (including Indemnified Taxes or Other Taxes imposed or asserted on or attributable to amounts payable under this Section 2.17) and any penalties, interest and reasonable expenses arising
therefrom or with respect thereto, whether or not such Indemnified Taxes or Other Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to
the Borrower by a Lender, or by the Administrative Agent on its own behalf or on behalf of a Lender, shall be conclusive absent manifest error. 

(d)    As soon as practicable after any payment of Indemnified Taxes or Other Taxes by the Borrower to a 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)    Any Foreign Lender that is entitled to an
exemption from or reduction of withholding tax under the Code or any treaty to which the United States is a party, with respect to payments under this Agreement shall deliver to the Borrower (with a copy to the Administrative Agent), at the time or
times prescribed by applicable law, such properly completed and executed documentation prescribed by applicable law or reasonably requested by the Borrower as will permit such payments to be made without withholding or at a reduced rate. Without
limiting the generality of the foregoing, each Foreign Lender agrees that it will deliver to the Administrative Agent and the Borrower (or in the case of a Participant, to the Lender from which the related participation shall have been purchased),
as appropriate, two (2) duly completed copies of (i) Internal Revenue Service Form W-8 ECI, or any successor form thereto, certifying that the 

  
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payments received from the Borrower hereunder are effectively connected with such Foreign Lender’s conduct of a trade or business in the United States; or (ii) Internal Revenue Service
Form W-8 BEN, or any successor form thereto, certifying that such Foreign Lender is entitled to benefits under an income tax treaty to which the United States is a party which reduces the rate of withholding
tax on payments of interest; or (iii) Internal Revenue Service Form W-8 BEN, or any successor form prescribed by the Internal Revenue Service, together with a certificate (A) establishing that the
payment to the Foreign Lender qualifies as “portfolio interest” exempt from U.S. withholding tax under Code section 871(h) or 881(c), and (B) stating that (1) the Foreign Lender is not a bank for purposes of Code section
881(c)(3)(A), or the obligation of the Borrower hereunder is not, with respect to such Foreign Lender, a loan agreement entered into in the ordinary course of its trade or business, within the meaning of that section; (2) the Foreign
Lender is not a 10% shareholder of the Borrower within the meaning of Code section 871(h)(3) or 881(c)(3)(B); and (3) the Foreign Lender is not a controlled foreign corporation that is related to the Borrower within the meaning of Code section
881(c)(3)(C); or (iv) such other Internal Revenue Service forms as may be applicable to the Foreign Lender, including Forms W-8 IMY or W-8 EXP. Each such Foreign
Lender shall deliver to the Borrower and the Administrative Agent such forms on or before the date that it becomes a party to this Agreement (or in the case of a Participant, on or before the date such Participant purchases the related
participation). In addition, each such Foreign Lender shall deliver such forms promptly upon the obsolescence or invalidity of any form previously delivered by such Foreign Lender. Each such Foreign Lender shall promptly notify the Borrower and the
Administrative Agent at any time that it determines that it is no longer in a position to provide any previously delivered certificate to the Borrower (or any other form of certification adopted by the Internal Revenue Service for such purpose).

 (f)    If a payment made to a Lender under this Agreement would be subject to U.S. federal withholding tax imposed by
FATCA if such Lender were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as applicable), such Lender shall deliver to the Borrower and Administrative
Agent, at the time or times prescribed by law and at such time or times reasonably requested by the Borrower or 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 Administrative Agent as may be necessary for the Borrower or Administrative Agent to comply with its obligations under FATCA, 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. 

Section 2.18.    Payments 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, fees, or amounts payable under Sections 2.15, 2.16 or 2.17, or otherwise) prior to 12:00 noon (New York time) on the date when due, in immediately available funds,
free and clear of any defenses, rights of set-off, counterclaim, or withholding or deduction of taxes. Any amounts received after such time on any date may, in the discretion of the Administrative Agent, be
deemed to have been received on the next succeeding Business Day for purposes of calculating interest thereon. All such payments shall be made to the Administrative Agent at the Payment Office, except that payments pursuant to Sections 2.15,
2.16 and 2.17 and 9.3 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 made payable for the period of such extension. All payments hereunder shall be made in Dollars. 

  
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 (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 (ii) second, towards payment of principal then due hereunder, ratably 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 that would result in such Lender receiving payment of a greater proportion of the aggregate amount of its Loans and accrued interest thereon
than the proportion received by any other Lender, then the Lender receiving such greater proportion shall purchase (for cash at face value) participations in the Loans of other Lenders to the extent necessary so that the benefit of all such payments
shall be shared by the Lenders ratably in accordance with the aggregate amount of principal of and accrued interest on their respective Loans; provided, that (i) if any such participations are purchased and all or any portion of the
payment giving rise thereto is recovered, such participations shall be rescinded and the purchase price restored to the extent of such recovery, without interest, and (ii) the provisions of this paragraph shall not be construed to apply to any
payment made by the 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 hereunder that the Borrower will not make such payment, the Administrative Agent may assume
that the Borrower has made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Lenders the amount or amounts due. In such event, if the Borrower has not in fact made such payment, then each
of the Lenders severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such Lender 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. 

Section 2.19.    Mitigation of Obligations. If any Lender requests
compensation under Section 2.15, Section 2.16, or Section 2.17, or if the Borrower is required to pay any additional amount to any Lender or any Governmental Authority for
the account of any Lender pursuant to Section 2.17, then such Lender shall use reasonable efforts to designate a different lending office for funding or booking its Loans hereunder or to assign its rights and obligations
hereunder to another of its offices, branches or affiliates, if, in the sole judgment of such Lender, such designation or assignment (i) would eliminate or reduce amounts payable 

  
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under Section 2.15 or Section 2.17, as the case may be, 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 such designation or assignment. 

Section 2.20.    Replacement of Lenders. If any Lender requests compensation under
Section 2.15, or if the Borrower is required to pay any additional amount to any Lender or any Governmental Authority of the account of any Lender pursuant to Section 2.17, or if any Lender is a
Defaulting Lender, then the Borrower may, at its sole expense and effort, upon notice to such Lender and the Administrative Agent, require such Lender to assign and delegate, without recourse (in accordance with and subject to the restrictions set
forth in Section 9.4(b)) all its interests, rights and obligations under this Agreement to an assignee that shall assume such obligations (which assignee may be another Lender); provided, that (i) the Borrower
shall have received the prior written consent of the Administrative Agent, which consent shall not be unreasonably withheld, (ii) such Lender shall have received payment of an amount equal to the outstanding principal amount of all Loans owed
to it, accrued interest thereon, accrued fees and all other amounts payable to it hereunder, from the assignee (in the case of such outstanding principal and accrued interest) and from the Borrower (in the case of all other amounts) and
(iii) in the case of a claim for compensation under Section 2.15 or payments required to be made pursuant to Section 2.17, such assignment will result in a reduction in such compensation or
payments. A Lender shall not be required to make any such assignment and delegation if, prior thereto, as a result of a waiver by such Lender or otherwise, the circumstances entitling the Borrower to require such assignment and delegation cease to
apply. 
 Section 2.21.    Reserved. 

Section 2.22.    Defaulting Lenders. 

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

(i)    Waivers and Amendments. Such Defaulting Lender’s right to approve or disapprove any
amendment, waiver or consent with respect to this Agreement shall be restricted as set forth in the definition of Required Lenders and in Section 9.2. 

(ii)    Defaulting Lender Waterfall. Any payment of principal, interest, fees or other amounts
received by the Administrative Agent for the account of such Defaulting Lender (whether voluntary or mandatory, at maturity, pursuant to Article VII or otherwise) shall be applied at such time or times as may be determined by the
Administrative Agent as follows: first, to the payment of any amounts owing by such Defaulting Lender to the Administrative Agent hereunder; second, as the Borrower may request (so long as no Default or Event of Default exists), to the
funding of any Loan in respect of which such Defaulting Lender has failed to fund its portion thereof as required by this Agreement, as determined by the Administrative Agent; third, if so determined by the Administrative Agent and the
Borrower, to be held in a deposit account and released pro rata in order to satisfy such Defaulting Lender’s potential future funding obligations with respect to Loans under this Agreement; fourth, to the payment of any amounts owing to
the Lenders as a result of any then final and 

  
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non-appealable judgment of a court of competent jurisdiction obtained by any Lender against such Defaulting Lender as a result of such Defaulting
Lender’s breach of its obligations under this Agreement; fifth, so long as no Default or Event of Default exists, to the payment of any amounts owing to the Borrower as a result of any the final and
non-appealable judgment 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 sixth, 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 in respect of which such Defaulting Lender has
not fully funded its appropriate share, and (y) such Loans were made at a time when the conditions set forth in Section 3.2 were satisfied or waived, such payment shall be applied solely to pay the Loans of all Non-Defaulting Lenders on a pro rata basis prior to being applied to the payment of any Loans of such Defaulting Lender until such time as all Loans are held by the Lenders pro rata in accordance with the
Commitments without giving effect to Section 2.18. Any payments, prepayments or other amounts paid or payable to a Defaulting Lender that are applied (or held) to pay amounts owed by a Defaulting Lender pursuant to this
Section 2.22(ii) shall be deemed paid to and redirected by such Defaulting Lender, and each Lender irrevocably consents hereto.  

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

CONDITIONS PRECEDENT TO LOANS 

Section 3.1.    Conditions To Effectiveness. The obligations of the Lenders to
make Loans hereunder shall not become effective until the date on which each of the following conditions is satisfied (or waived in accordance with Section 9.2). 

(a)    The Administrative Agent and the Joint Lead Arrangers shall have received all fees and other amounts due and payable
on or prior to the Closing Date, including reimbursement or payment of all out-of-pocket expenses (including reasonable fees, charges and disbursements of counsel to the
Administrative Agent) required to be reimbursed or paid by the Borrower hereunder, under any other Credit Document and under any agreement with the Administrative Agent or the Joint Lead Arrangers. 

  
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 (b)    The Administrative Agent (or its counsel) shall
have received the following: 
 (i)    a counterpart of this Agreement signed by or on behalf of each
party hereto or written evidence satisfactory to the Administrative Agent (which may include telecopy or .pdf transmission of an executed signature page of this Agreement) that such party has signed a counterpart of this Agreement; 

(ii)    reserved; 

(iii)    a certificate of the Secretary or Assistant Secretary of the Borrower in the form of Exhibit
3.1(b)(iii), attaching and certifying copies of its bylaws and of the resolutions of its boards of directors, authorizing the execution, delivery and performance of the Credit Documents and certifying the name, title and true signature of each
officer of the Borrower executing the Credit Documents; 
 (iv)    certified copies of the articles or
certificate of incorporation of the Borrower, together with certificates of good standing or existence, as may be available from the Secretary of State of the jurisdictions of organization of the Borrower and each other jurisdiction in which the
failure to so qualify and be in good standing would have or would reasonably be expected to have a Material Adverse Effect; 

(v)    a favorable written opinion of inside or outside counsel to the Borrower, addressed to the
Administrative Agent and each of the Lenders, and covering such matters relating to the Borrower, the Credit Documents and the transactions contemplated therein as the Administrative Agent or the Required Lenders shall reasonably request; 

(vi)    a certificate in the form of Exhibit 3.1(b)(vi), dated the Closing Date and signed by a
Financial Officer, certifying that (A) no Default or Event of Default exists, (B) all representations and warranties of the Borrower set forth in the Credit Documents are true and correct in all material respects, (C) since
September 30, 2019, there shall have been no material adverse change in the business, condition (financial or otherwise), operations, liabilities (contingent or otherwise), properties or prospects of the Borrower and its subsidiaries taken as a
whole, (D) there are no actions, suits, investigations or legal, equitable, arbitration or administrative proceedings pending or, to the knowledge of the Borrower, threatened against the Borrower, any of its Subsidiaries or any of its
properties which would have or be reasonably expected to have a Material Adverse Effect and (E) except as would not result or be reasonably expected to result in a Material Adverse Effect: (a) each of the properties of the Borrower and its
Subsidiaries and all operations at such properties are in compliance in all material respects with all applicable Environmental Laws, (b) there is no violation of any Environmental Law with respect to the properties or the businesses operated
by the Borrower or its Subsidiaries, and (c) there are no conditions relating to the businesses or properties that would reasonably be expected to give rise to a material liability under any applicable Environmental Laws; 

(vii)    a duly executed Notice of Borrowing; 

(viii)    certified copies of all consents, approvals, authorizations, registrations and filings and orders
required or advisable to be made or obtained under any Requirement of Law, or by any Contractual Obligation of Borrower, in connection with the execution, delivery, performance, validity and enforceability of the Credit Documents

  
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or any of the transactions contemplated thereby, and such consents, approvals, authorizations, registrations, filings and orders shall be in full force and effect and all applicable waiting
periods shall have expired, and no investigation or inquiry by any governmental authority regarding the Commitments or any transaction being financed with the proceeds thereof shall be ongoing; 

(ix)    copies of (A) the internally prepared quarterly financial statements of the Borrower and its
Subsidiaries on a consolidated basis for the fiscal quarter ending on December 31, 2019 and (B) the audited consolidated financial statements for the Borrower and its Subsidiaries for the fiscal year ending September 30, 2019; and

 (x)    such other documents, certificates or information as the Joint Lead Arrangers may reasonably
request, all in form and substance reasonably satisfactory to the Joint Lead Arrangers. 
 (c) To the extent requested by the Administrative
Agent in writing not less than five (5) Business Days prior to the Closing Date, the Administrative Agent shall have received, not later than two (2) calendar days prior to the Closing Date, all documentation and other information with
respect to the Borrower that the Administrative Agent reasonably believes is required by regulatory authorities under applicable “know-your-customer” and anti-money laundering rules and regulations, including without limitation the Patriot
Act (as defined below). 
 All of the Credit Documents, certificates, legal opinions and other documents and papers referred to in this Article III,
unless otherwise specified, shall be delivered to the Administrative Agent for the account of each of the Lenders and, except for any promissory notes, in sufficient counterparts or copies for each of the Lenders and shall be in form and substance
reasonably satisfactory to the Administrative Agent. 
 ARTICLE IV 

REPRESENTATIONS AND WARRANTIES 

The Borrower represents and warrants to the Administrative Agent and each Lender as follows: 

Section 4.1.    Organization and Good Standing. The Borrower (a) is a
corporation duly organized, validly existing and in good standing under the laws of the jurisdictions of its incorporation, (b) is duly qualified and in good standing as a foreign corporation authorized to do business in every jurisdiction
where the failure to so qualify would have or would reasonably be expected to have a Material Adverse Effect and (c) has the requisite corporate power and authority to own its properties and to carry on its business as now conducted and as
proposed to be conducted. 
 Section 4.2.    Due Authorization. The Borrower
(a) has the requisite corporate power and authority to execute, deliver and perform this Agreement and the other Credit Documents and to incur the obligations herein and therein provided for and (b) has been authorized by all necessary
corporate action, to execute, deliver and perform this Agreement and the other Credit Documents. 

Section 4.3.    No Conflicts. Neither the execution and delivery of the Credit
Documents, nor the consummation of the transactions contemplated therein, nor performance of 

  
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and compliance with the terms and provisions thereof by the Borrower will (a) violate or conflict with, in any material respect, any provision of its articles of incorporation or bylaws,
(b) violate, contravene or conflict with, in any material respect, any law, regulation (including without limitation, Regulation U, Regulation X or any regulation promulgated by the Federal Energy Regulatory Commission), order, writ, judgment,
injunction, decree or permit applicable to it, (c) except as would not reasonably be expected to result in a Material Adverse Effect, violate, contravene or conflict with contractual provisions of, or cause an event of default under, any
indenture, loan agreement, mortgage, deed of trust, contract or other agreement or instrument to which it is a party or by which it or its properties may be bound, or (d) in any material respect, result in or require the creation of any Lien
upon or with respect to its properties, other than a Permitted Lien. 

Section 4.4.    Consents. No consent, approval, authorization or order of, or
filing, registration or qualification with, any court or Governmental Authority or third party is required in connection with the execution, delivery or performance of this Agreement or any of the other Credit Documents, except any such consent,
approval, authorization, order, filing, registration or qualification as would not reasonably be expected to have a Material Adverse Effect. 

Section 4.5.    Enforceable Obligations. This Agreement and the other Credit
Documents have been duly executed and delivered and constitute legal, valid and binding obligations of the Borrower enforceable against the Borrower in accordance with their respective terms, except as may be limited by bankruptcy or insolvency laws
or similar laws affecting creditors’ rights generally or by general equitable principles. 

Section 4.6.    Financial Condition. 

(a)    The consolidated financial statements delivered to the Lenders pursuant to
Section 3.1(b)(ix) and pursuant to Section 5.1(a) and (b): (i) have been prepared in accordance with GAAP (subject to the provisions of Section 1.3) and
(ii) present fairly in all material respects the financial condition, results of operations, and cash flows of the Borrower and its Subsidiaries as of such date and for such periods. 

(b)    Since September 30, 2019, there has been no sale, transfer or other disposition by the Borrower of any material
part of the business or property of the Borrower, and no purchase or other acquisition by the Borrower of any business or property (including any Capital Stock of any other Person) material in relation to the financial condition of the Borrower, in
each case which is not (i) reflected in the most recent financial statements delivered to the Lenders pursuant to Section 3.1(b)(ix) and pursuant to Section 5.1 or in the notes thereto or
(ii) otherwise permitted by the terms of this Agreement and communicated to the Administrative Agent. 

Section 4.7.    Intentionally Omitted. 

Section 4.8.    No Default. No Default or Event of Default presently exists and is
continuing. 
 Section 4.9.    Intentionally Omitted. 

Section 4.10.    Taxes. The Borrower and its Subsidiaries have filed, or caused to
be filed, all material tax returns (federal, state, local and foreign) required to be filed and paid 

  
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all amounts of taxes shown thereon to be due (including interest and penalties) and has paid all other material taxes, fees, assessments and other governmental charges (including mortgage
recording taxes, documentary stamp taxes and intangibles taxes) owing by it, except for such taxes which are not yet delinquent or that are being contested in good faith and by proper proceedings, and against which adequate reserves are being
maintained in accordance with GAAP. 
 Section 4.11.    Compliance with Law. The
Borrower and each of its Subsidiaries is in compliance with all laws, rules, regulations, orders and decrees applicable to it or to its properties, except where the failure to be in compliance would not have or would not reasonably be expected to
have a Material Adverse Effect. 
 Section 4.12.    Material Agreements. Neither
the Borrower nor any of its Subsidiaries is in default in any respect under any contract, lease, loan agreement, indenture, mortgage, security agreement or other agreement or obligation to which it is a party or by which any of its properties is
bound which default has had or would be reasonably expected to have a Material Adverse Effect. 

Section 4.13.    ERISA. Except as would not result or be reasonably expected to
result in a Material Adverse Effect: 
 (a)    During the five-year period prior to the date on which this representation
is made or deemed made: (i) no Termination Event has occurred, and, to the best knowledge of the Borrower, no event or condition has occurred or exists as a result of which any Termination Event is reasonably expected to occur, with respect to
any Plan; (ii) no “accumulated funding deficiency,” as such term is defined in Section 302 of ERISA and Section 412 of the Code, whether or not waived, has occurred with respect to any Plan; (iii) each Plan has been
maintained, operated, and funded in material compliance with its own terms and in material compliance with the provisions of ERISA, the Code, and any other applicable federal or state laws; and (iv) no Lien in favor or the PBGC or a Plan has
arisen or is reasonably expected to arise on account of any Plan. 
 (b)    No liability has been or is reasonably
expected by the Borrower to be incurred under Sections 4062, 4063 or 4064 of ERISA with respect to any Single Employer Plan by the Borrower or any of its Subsidiaries which has or would reasonably be expected to have a Material Adverse Effect. 

(c)    The actuarial present value of all “benefit liabilities” under each Single Employer Plan (determined
within the meaning of Section 401(a)(2) of the Code, utilizing the actuarial assumptions used to fund such Plans), whether or not vested, did not, as of the last annual valuation date prior to the date on which this representation is made or
deemed made, exceed the current value of the assets of such Plan allocable to such accrued liabilities, except as disclosed in the Borrower’s financial statements. 

(d)    Neither the Borrower nor any ERISA Affiliate has incurred, or, to the best knowledge of the Borrower, is reasonably
expected to incur, any withdrawal liability under ERISA to any Multiemployer Plan or Multiple Employer Plan. Neither the Borrower nor any ERISA Affiliate has received any notification that any Multiemployer Plan is in reorganization (within the
meaning of Section 4241 of ERISA), is insolvent (within the meaning of Section 4245 of ERISA), or has been terminated (within the meaning of Title IV of ERISA), and no Multiemployer Plan is, to the best knowledge of the Borrower,
reasonably expected to be in reorganization, insolvent, or terminated. 

  
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 (e)    No prohibited transaction (within the meaning of Section 406
of ERISA or Section 4975 of the Code) or breach of fiduciary responsibility has occurred with respect to a Plan which has subjected or is reasonably likely to subject the Borrower or any ERISA Affiliate to any liability under Sections 406, 407,
409, 502(i), or 502(l) of ERISA or Section 4975 of the Code, or under any agreement or other instrument pursuant to which the Borrower or any ERISA Affiliate has agreed or is required to indemnify any person against any such liability. 

(f)    The present value (determined using actuarial and other assumptions which are reasonable with respect to the
benefits provided and the employees participating) of the liability of the Borrower and each ERISA Affiliate for post-retirement welfare benefits to be provided to their current and former employees under Plans which are welfare benefit plans (as
defined in Section 3(1) of ERISA), net of all assets under all such Plans allocable to such benefits, are reflected on the financial statements referenced in Section 5.1 in accordance with FASB 106. 

(g)    Each Plan which is a welfare plan (as defined in Section 3(1) of ERISA) to which Sections 601-609 of ERISA and Section 4980B of the Code apply has been administered in compliance in all material respects with such sections. 

Section 4.14.    Use of Proceeds. The proceeds of the Loans hereunder will be used
solely for the purposes specified in Section 5.8. None of such proceeds will be used for the acquisition of another Person unless the board of directors (or other comparable governing body) or stockholders, as appropriate,
of such Person has approved such acquisition.    The proceeds of the Loans hereunder shall not be used, wholly, partially, directly or indirectly to finance any transaction relating to a client, customer, importer, exporter or
any other Person who appears on any list of OFAC, the Financial Action Task Force on Money Laundering or on any control list of a similar nature of any governmental authority (collectively, the “Sanctions Lists”) or in violation of
any Anti-Terrorism and Anti-Corruption Law. 
 Section 4.15.    Government
Regulation. 
 (a)    No proceeds of the Loans will be used, directly or indirectly, for the purpose of
purchasing or carrying any “margin stock” within the meaning of Regulation U, or for the purpose of purchasing or carrying or trading in any securities. If requested by any Lender or the Administrative Agent, the Borrower will furnish to
the Administrative Agent and each Lender a statement to the foregoing effect in conformity with the requirements of FR Form U-1 referred to in Regulation U. No indebtedness being reduced or retired out of the
proceeds of the Loans was or will be incurred for the purpose of purchasing or carrying any margin stock within the meaning of Regulation U or any “margin security” within the meaning of Regulation T. “Margin stock” within the
meaning of Regulation U does not constitute more than 25% of the value of the consolidated assets of the Borrower and its Subsidiaries. 

(b)    Neither the Borrower nor any of its Subsidiaries is an “investment company” registered or required to be
registered under the Investment Company Act of 1940, as amended, and is not controlled by an “investment company”. 

Section 4.16.    Disclosure. Neither this Agreement nor any financial statements
delivered to the Lenders nor any other document, certificate or statement furnished to the Lenders 

  
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by or on behalf of the Borrower in connection with the transactions contemplated hereby (in each case, as modified or supplemented by other information so furnished) contains any untrue statement
of a material fact or omits to state a material fact necessary in order to make the statements contained therein or herein, taken as a whole, not misleading; provided that, with respect to projected financial information, the Borrower represents
only that such information was prepared in good faith based upon assumptions believed to be reasonable at the time (it being understood that the projected financial information is subject to significant uncertainties and contingencies, many of which
are beyond the Borrower’s control, and that no assurance can be given that any projections will be realized). 

Section 4.17.    OFAC; Anti-Corruption Laws; Anti-Money Laundering Laws. 

(a)    Neither the Borrower nor any of its Subsidiaries or Affiliates, nor to its knowledge any of its or their respective
directors, officers, or employees, agents or representatives, has taken or will take any action in furtherance of an offer, payment, promise to pay, or authorization or approval of the payment or giving of money, property, gifts or anything else of
value, directly or indirectly, to any “government official” (including any officer or employee of a government or government-owned or controlled entity or of a public international organization, or any person acting in an official capacity
for or on behalf of any of the foregoing, or any political party or party official or candidate for political office) to improperly influence official action or secure an improper advantage for the Borrower or any of its Subsidiaries or Affiliates
where such actions would constitute a material breach of Anti-Corruption Laws; and the Borrower and its Subsidiaries and Affiliates have conducted their businesses in material compliance with applicable Anti-Terrorism and Anti-Corruption Laws and
have instituted and maintain and will continue to maintain policies and procedures designed to promote and achieve compliance with such laws and with the representation and warranty contained herein. 

(b)    Neither the Borrower nor any of its Subsidiaries or Affiliates, nor to its knowledge any of its or their respective
directors, officers, or employees, agents or representatives, is (i) named on any Sanctions List, (ii)(A) an agency of the government of a country, or (B) an organization controlled by a country, (iii) a Person resident in a country
that is subject to a sanctions program identified on any Sanctions List (each a “Listed Country”), or, if a resident in a Listed Country, that residency and the operations of that Person relating to that Listed Country are in
compliance with all Anti-Terrorism Laws and Anti-Corruption Laws in all material respects or (iv) directly conducting business or engaged in any transaction with any Persons named on any Sanctions List or resident in a Listed Country. 

Section 4.18.    Insurance. The Borrower and its Subsidiaries maintain insurance
with financially sound and reputable insurance companies or associations in such amounts and covering such risks as is usually carried by companies engaged in similar business and owning similar properties in the same general areas in which the
Borrower and its Subsidiaries operate and/or maintain a system or systems of self-insurance or assumption of risk which accords with the practices of similar businesses. 

Section 4.19.    Franchises, Licenses, Etc. The Borrower and its Subsidiaries
possess (a) good title to, or the legal right to use, all properties and assets and (b) all franchises, certificates, licenses, permits and other authorizations, in each case as are necessary for the operation of their respective
businesses, except to the extent the failure to possess any of the foregoing would not and would not reasonably be expected to have a Material Adverse Effect. 

  
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 Section 4.20.    Secured
Indebtedness. All of the secured indebtedness of the Borrower is set forth on Schedule 4.20 or permitted by Section 6.6. 

Section 4.21.    Subsidiaries. All Subsidiaries of the Borrower and the
designation as to which such Subsidiaries are Material Subsidiaries are set forth on Schedule 4.21. Schedule 4.21 may be updated from time to time by the Borrower. 

Section 4.22.    EEA Financial Institution. Neither the Borrower nor any
Subsidiary is an EEA Financial Institution. 
 ARTICLE V 

AFFIRMATIVE COVENANTS 

The Borrower covenants and agrees that so long as any Lender has a Commitment hereunder or any Obligation remains unpaid or outstanding: 

Section 5.1.    Information Covenants. The Borrower will furnish, or cause to be
furnished, to the Administrative Agent (who shall forward copies thereof to each Lender): 
 (a)    Annual Financial
Statements. As soon as available, and in any event within 120 days after the close of each fiscal year of the Borrower, a consolidated balance sheet and income statement of the Borrower and its Subsidiaries, as of the end of such fiscal year,
together with retained earnings and a consolidated statement of cash flows for such fiscal year setting forth in comparative form figures for the preceding fiscal year, all such financial information described above to be in reasonable form and
detail and audited by independent certified public accountants of recognized national standing and whose opinion shall be furnished to the Administrative Agent, shall be to the effect that such financial statements have been prepared in accordance
with GAAP (except for changes with which such accountants concur) and shall not be limited as to the scope of the audit or qualified by a going concern or similar qualification. 

(b)    Quarterly Financial Statements. As soon as available, and in any event within 65 days after the close of each
fiscal quarter of the Borrower (other than the fourth fiscal quarter) a consolidated balance sheet and income statement of the Borrower and its Subsidiaries, as of the end of such fiscal quarter, together with a related consolidated statement of
cash flows for such fiscal quarter in each case setting forth in comparative form figures for the corresponding period of the preceding fiscal year, all such financial information described above to be in reasonable form and detail and reasonably
acceptable to the Administrative Agent, and accompanied by a certificate of a Financial Officer of the Borrower to the effect that such quarterly financial statements fairly present in all material respects the financial condition of the Borrower
and have been prepared in accordance with GAAP, subject to changes resulting from audit and normal year-end audit adjustments and absence of notes. 

(c)    Officer’s Certificate. At the time of delivery of the financial statements provided for in Sections
5.1(a) and 5.1(b) above, a certificate of a Financial Officer of the Borrower, substantially in the form of Exhibit 5.1(c), (i) demonstrating compliance with Section 5.2 by calculation thereof as of the end of
each such fiscal period and (ii) stating that no Default or Event of Default exists, or if any Default or Event of Default does exist, specifying the nature and extent thereof and what action the Borrower proposes to take with respect thereto.

  
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 (d)    Reports. Promptly after the same are available, copies of
all annual, regular, periodic and special reports and registration statements which the Borrower may file or be required to file with the SEC under Section 13 or 15(d) of the Exchange Act, and not otherwise required to be delivered to the
Administrative Agent pursuant hereto. 
 (e)    Notices. Upon the Borrower obtaining knowledge thereof, the
Borrower will give written notice to the Administrative Agent promptly of (i) the occurrence of a Default or Event of Default, specifying the nature and existence thereof and what action the Borrower proposes to take with respect thereto,
(ii) any change in any rating from S&P or Moody’s and/or any loss of rating from S&P or Moody’s and/or (iii) the occurrence of any of the following with respect to the Borrower or any Subsidiary: (A) the pendency or
commencement of any litigation, arbitration or governmental proceeding against the Borrower or such Subsidiary which, if adversely determined, would have or would be reasonably expected to have a Material Adverse Effect or (B) the institution
of any proceedings against the Borrower or such Subsidiary with respect to, or the receipt of notice by such Person of potential liability or responsibility for violation or alleged violation of, any federal, state or local law, rule or regulation
(including, without limitation, any Environmental Law), the violation of which would have or would be reasonably expected to have a Material Adverse Effect. 

(f)    ERISA. Upon the Borrower or any ERISA Affiliate obtaining knowledge thereof, the Borrower will give written
notice to the Administrative Agent and each of the Lenders promptly (and in any event within five Business Days) of: (i) any event or condition, including, but not limited to, any Reportable Event, that constitutes, or would be reasonably
expected to lead to, a Termination Event; (ii) any communication from the PBGC stating its intention to terminate any Plan or to have a trustee appointed to administer any Plan together with a statement of the amount of liability, if any,
incurred or expected to be incurred by the Borrower or any Subsidiary in connection therewith; (iii) with respect to any Multiemployer Plan, the receipt of notice as prescribed in ERISA or otherwise of any withdrawal liability assessed against
the Borrower or any ERISA Affiliate, or of a determination that any Multiemployer Plan is in reorganization or insolvent (both within the meaning of Title IV of ERISA); (iv) the failure to make full payment on or before the due date (including
extensions) thereof of all amounts which the Borrower or any of its Subsidiaries or ERISA Affiliates is required to contribute to each Plan which is subject to Title IV of ERISA pursuant to its terms and as required to meet the minimum funding
standard set forth in ERISA and the Code with respect thereto; or (v) any change in the funding status of any Plan that would have or would be reasonably expected to have a Material Adverse Effect; together, with a description of any such event
or condition or a copy of any such notice and a statement by an officer of the Borrower briefly setting forth the details regarding such event, condition, or notice, and the action, if any, which has been or is being taken or is proposed to be taken
by the Borrower with respect thereto. Promptly upon request, the Borrower shall furnish the Administrative Agent with such additional information concerning any Plan as may be reasonably requested by the Administrative Agent or any Lender,
including, but not limited to, copies of each annual report/return (Form 5500 series), as well as all schedules and attachments thereto required to be filed with the Department of Labor and/or the Internal Revenue Service pursuant to ERISA and the
Code, respectively, for each “plan year” (within the meaning of Section 3(39) of ERISA). 

(g)    Other Information. With reasonable promptness upon any such request, such other information regarding the
business, properties or financial condition of the Borrower as the Administrative Agent or the Required Lenders may reasonably request. 

  
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 (h)    Delivery of Information. Documents required to be
delivered pursuant to this Section (to the extent any such documents are included in materials otherwise filed with the SEC) may be delivered electronically and if so delivered, shall be deemed to have been delivered on the date (i) on which
the Borrower posts such documents, or provides a link thereto on the Borrower’s website on the Internet at the website address www.atmosenergy.com; or (ii) on which such documents are posted on the Borrower’s behalf on an Internet or
intranet website, if any, to which each Lender and the Administrative Agent have access (whether a commercial, third party website or sponsored by the Administrative Agent); provided that the Borrower shall notify the Administrative Agent (by
telecopier or electronic mail) of the posting of any such documents (which notice the Administrative Agent shall promptly forward to the Lenders). Notwithstanding anything contained herein, in every instance the Borrower shall be required to provide
paper or facsimile copies of the officer’s certificates required by Section 5.1(c) to the Administrative Agent. Except for such officer’s certificates, the Administrative Agent shall have no obligation to request
the delivery or to maintain copies of the documents referred to above, and in any event shall have no responsibility to monitor compliance by the Borrower with any such request for delivery, and each Lender shall be solely responsible for
maintaining its copies of such documents. 
 Section 5.2.    Debt to Capitalization
Ratio. As of the last day of each fiscal quarter of the Borrower, the Debt to Capitalization Ratio shall be less than or equal to 0.70 to 1.0. 

Section 5.3.    Preservation of Existence, Franchises and Assets. The Borrower
will, and will cause its Subsidiaries to, do all things necessary to preserve and keep in full force and effect its existence, rights, franchises and authority, except where failure to do so would not or would not reasonably be expected to have a
Material Adverse Effect. The Borrower will, and will cause its Subsidiaries to, generally maintain its properties, real and personal, in good condition, and the Borrower and its Subsidiaries shall not waste or otherwise permit such properties to
deteriorate, reasonable wear and tear excepted, except, in each case, where failure to do so would not or would not reasonably be expected to have a Material Adverse Effect. 

Section 5.4.    Books and Records. The Borrower will, and will cause its
Subsidiaries to, keep complete and accurate books and records of its transactions in accordance with good accounting practices on the basis of GAAP (including the establishment and maintenance of appropriate reserves). 

Section 5.5.    Compliance with Law. The Borrower will, and will cause its
Subsidiaries to, comply with, and obtain all permits and licenses required by, all laws (including, without limitation, all Environmental Laws and ERISA laws), rules, regulations and orders, and all applicable restrictions imposed by all
Governmental Authorities, applicable to it and its property, if the failure to comply would have or would be reasonably expected to have a Material Adverse Effect. The Borrower will, and will cause each of its Subsidiaries and Affiliates to, comply
with, and not act in any manner that would result in a violation by any Person (including Lender) of, Anti-Terrorism and Anti-Corruption Laws. 

Section 5.6.    Payment of Taxes and Other Claims. The Borrower will, and will
cause its Subsidiaries to, pay, settle or discharge (a) all material taxes, assessments and governmental charges or levies imposed upon it, or upon its income or profits, or upon any of its properties, before they shall become delinquent and
(b) all lawful claims (including claims for labor, materials and supplies) which, if unpaid, might give rise to a Lien upon any of its properties; provided, however, that the Borrower shall not be required to pay any such tax,
assessment, charge, levy, claim or indebtedness which is being contested in good faith by 

  
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appropriate action and as to which adequate reserves therefor, if required, have been established in accordance with GAAP, unless the failure to make any such payment (i) would give rise to
an immediate right to foreclose or collect on a Lien securing such amounts or (ii) would have or would reasonably be expected to have a Material Adverse Effect. 

Section 5.7.    Insurance. The Borrower will, and will cause its Subsidiaries to,
at all times maintain in full force and effect insurance (including worker’s compensation insurance, liability insurance and casualty insurance) with financially sound and reputable insurance companies or associations in such amounts and
covering such risks as is usually carried by companies engaged in similar business and owning similar properties in the same general areas in which the Borrower and its Subsidiaries operate and/or maintain a system or systems of self-insurance or
assumption of risk which accords with the practices of similar businesses. 

Section 5.8.    Use of Proceeds. The proceeds of the Loans may be used solely
(a) to fund future acquisitions permitted by Section 4.14 and (b) for working capital, capital expenditures and other lawful corporate purposes of the Borrower. 

Section 5.9.    Audits/Inspections. Upon reasonable prior notice and during normal
business hours and no more frequently than once during any fiscal year upon reasonable advance notice through the Administrative Agent to the Borrower, the Borrower will permit representatives appointed by the Administrative Agent, including,
without limitation, independent accountants, agents, attorneys, and appraisers to visit and inspect the Borrower’s and its Subsidiaries’ property, including their books and records, their accounts receivable and inventory, the
Borrower’s and its Subsidiaries’ facilities and their other business assets, and to make photocopies or photographs thereof and to write down and record any information such representative obtains and shall permit the Administrative Agent
or its representatives to discuss all such matters with the officers, employees and representatives of the Borrower and its Subsidiaries; provided, however, that when an Event of Default exists the Administrative Agent or any Lender (or any of their
respective representatives) may do any of the foregoing at the expense of the Borrower at any time during normal business hours.  

ARTICLE VI 
 NEGATIVE
COVENANTS 
 The Borrower covenants and agrees that so long as any Lender has a Commitment hereunder or any Obligation remains
outstanding: 
 Section 6.1.    Nature of Business. The Borrower will not
materially alter the character of its business from that conducted as of the Closing Date. 

Section 6.2.    Consolidation and Merger. The Borrower will not (a) enter
into any transaction of merger, or (b) consolidate, liquidate, wind up or dissolve itself (or suffer any liquidation or dissolution); provided that, so long as no Default or Event of Default shall exist or be caused thereby, a Person may
be merged or consolidated with or into the Borrower so long as the Borrower shall be the continuing or surviving corporation. 

Section 6.3.    Sale or Lease of Assets. Within any period of four consecutive
fiscal quarters, the Borrower will not, nor will it permit any Subsidiary to, convey, sell, lease, transfer or otherwise dispose of assets, business or operations with a net book value in excess of 25% of Total Assets as calculated as of the end of
the most recent such fiscal quarter. 

  
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 Section 6.4.    Arm’s-Length Transactions. The Borrower will not, nor will it permit its Subsidiaries to, enter into any transaction or series of transactions, whether or not in the ordinary course of business, with
any Affiliate other than on terms and conditions substantially as favorable as would be obtainable in a comparable arm’s-length transaction with a Person other than an Affiliate; provided that the
foregoing restriction shall not apply to the payment or grant of reasonable compensation, benefits and indemnities to any director, officer, employee or agent of the Borrower or any Subsidiary. 

Section 6.5.    Fiscal Year; Organizational Documents. The Borrower will not
(a) change its fiscal year or (b) in any manner that would reasonably be expected to materially adversely affect the rights of the Lenders, change its organizational documents or its bylaws; it being understood that the Borrower’s
shareholders may approve an amendment to the Borrower’s Articles of Incorporation to permit the issuance of Preferred Securities. 

Section 6.6.    Liens. The Borrower will not, nor will it permit any of its
Material Subsidiaries to, contract, create, incur, assume or permit to exist any Lien with respect to any of its property or assets of any kind (whether real or personal, tangible or intangible), whether now owned or after acquired, except for the
following: (a) Liens securing Obligations, (b) Liens for taxes not yet due or Liens for taxes being contested in good faith by appropriate action and for which adequate reserves, if required, determined in accordance with GAAP have been
established (and as to which the property subject to any such Lien is not yet subject to foreclosure, sale or loss on account thereof), (c) Liens in respect of property imposed by law arising in the ordinary course of business such as
materialmen’s, mechanics’, warehousemen’s, carrier’s, landlords’ and other nonconsensual statutory Liens which are not yet due and payable, which have been in existence less than 90 days or which are being contested in good
faith by appropriate action and for which adequate reserves, if required, determined in accordance with GAAP have been established (and as to which the property subject to any such Lien is not yet subject to foreclosure, sale or loss on account
thereof), (d) pledges or deposits made in the ordinary course of business to secure payment of worker’s compensation insurance, unemployment insurance, pensions or social security programs, (e) Liens arising from good faith deposits in
connection with or to secure performance of tenders, bids, leases, government contracts, performance and return-of-money bonds and other similar obligations incurred in
the ordinary course of business (other than obligations in respect of the payment of borrowed money), (f) Liens arising from good faith deposits in connection with or to secure performance of statutory obligations and surety and appeal bonds,
(g) easements, rights-of-way, restrictions (including zoning restrictions), minor defects or irregularities in title and other similar charges or encumbrances not,
in any material respect, impairing the use of the encumbered property for its intended purposes, (h) judgment Liens that would not constitute an Event of Default or securing appeal or other surety bonds related to such judgments, (i) Liens
arising by virtue of any statutory or common law provision relating to banker’s liens, rights of setoff or similar rights as to deposit accounts or other funds maintained with a creditor depository institution, (j) any Lien on any assets
securing indebtedness incurred or assumed for the purpose of financing all or any part of the cost of acquiring, developing, operating, constructing, altering, repairing or improving all or part of such assets; provided that such Lien attaches to
such asset concurrently with or within 90 days after the acquisition thereof, completion of construction, improvement or repair, or commencement of commercial operation of such assets, (k) any Lien on any asset of any Person existing at the
time such Person is merged or consolidated with or into the Borrower or one of its Subsidiaries and not created in contemplation of such event, (l) any Lien existing on any asset prior to the acquisition thereof by the Borrower or one of its
Subsidiaries and not created in contemplation of such acquisition, (m) any Lien on the assets of the Borrower or any Material Subsidiary pursuant to Section 803 of the 1998 Indenture, Section 803 of the 2001 Indenture,
Section 803 of the 2007 

  
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Indenture, or Section 803 of the 2009 Indenture if placed on the property of the Borrower or such Material Subsidiary on an equal and ratable basis with Liens securing Obligations and other
Liens that may be placed on the properties of the Borrower or such Material Subsidiary in the future, (n) any Lien created in connection with a project financed with, or created to secure, Non-Recourse
Indebtedness, (o) Liens on goods (and the proceeds thereof) and documents of title and the property covered thereby securing indebtedness in respect of commercial letters of credit, (p) Liens that have been placed by any developer,
landlord or other third party on property over which the Borrower or any Material Subsidiary has easement rights or on any real property leased by the Borrower or any Material Subsidiary and subordination or similar agreements relating thereto,
(q) any condemnation or eminent domain proceedings affecting any real property, (r) any provision for the retention of title to an asset by vendor or transferor of such asset which asset is acquired by the Borrower or a Material Subsidiary
in a transaction entered into in the ordinary course of business, (s) Liens on the proceeds of assets that were subject to Liens permitted hereunder or on assets acquired with such proceeds as a replacement of such former assets, (t) Liens
not otherwise permitted by this Agreement securing indebtedness in the aggregate (at the time such Liens are created) not in excess of ten percent (10%) of Consolidated Net Property, (u) Liens constituted by a right of set off, or rights over a
margin call account, or any form of cash collateral, or any similar arrangement, securing Hedging Obligations and/or Physical Trade Obligations, in each case so long as the aggregate principal amount of cash securing such Hedging Obligations
and Physical Trade Obligations, do not exceed ten percent (10%) of Consolidated Net Worth, (v) Liens on accounts and related assets arising under an areawide utility contract or similar contract with the federal government related to
energy management, conservation, or similar services, securing indebtedness of the Persons to whom Borrower has subcontracted to provide such services to the federal government and (w) any extension, renewal or replacement (or successive
extensions, renewals or replacements), as a whole or in part, of any Liens referred to in the foregoing clauses (a) through (v) for amounts not exceeding the principal amount of the indebtedness (including undrawn commitments) secured by the
Lien so extended, renewed or replaced (except for accrued interest and a reasonable premium or other reasonable amount paid, and fees and expenses reasonably incurred in connection with such extension, renewal or replacement); provided that such
extension, renewal or replacement Lien is limited to all or a part of the same property or assets that were covered by the Lien extended, renewed or replaced (plus improvements on such property or assets). 

ARTICLE VII 
 EVENTS
OF DEFAULT 
 Section 7.1.    Events of Default. An Event of
Default shall exist upon the occurrence of any of the following specified events (each an “Event of Default”): 

(a)    Payment. The Borrower shall default in the payment (i) when due of any principal of any of the Loans or
(ii) within three Business Days of when due of any interest on the Loans or of any fees owing hereunder or any of the other Credit Documents or (iii) within ten days of when due of any other amounts owing hereunder, under any of the other
Credit Documents or in connection herewith. 
 (b)    Representations. Any representation, warranty or statement
made or deemed to be made by the Borrower herein, in any of the other Credit Documents, or in any statement or certificate delivered or required to be delivered pursuant hereto or thereto (including without limitation the certificate delivered
pursuant to Section 3.1(b)(vi)) shall prove untrue in any material respect on the date as of which it was deemed to have been made. 

  
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 (c)    Covenants. The Borrower shall: 

(i)    default in the due performance or observance of any term, covenant or agreement contained in
Sections 5.2, 5.3 (as to maintenance of existence of the Borrower only) or 6.1 through 6.6 inclusive; or 

(ii)    default in the due performance or observance by it of any term, covenant or agreement contained in
Section 5.1 and such default shall continue unremedied for a period of five Business Days after the earlier of the Borrower becoming aware of such default or notice thereof given by the Administrative Agent; or 

(iii)    default in the due performance or observance by it of any term, covenant or agreement (other than
those referred to in subsections (a), (b), (c)(i), or (c)(ii) of this Section 7.1) contained in this Agreement or any other Credit Document and such default shall continue unremedied for a period of at least 30 days after
the earlier of the Borrower becoming aware of such default or notice thereof given by the Administrative Agent. 

(d)    Credit Documents. The Borrower shall default in the due performance or observance of any term, covenant or
agreement in any of the other Credit Documents and such default shall continue unremedied for a period of at least 30 days after the earlier of (i) the Borrower becoming aware of such default or notice thereof given by the Administrative Agent
or (ii) any Credit Document shall fail to be in full force and effect or the Borrower shall so assert. 

(e)    Bankruptcy, etc. The occurrence of any of the following with respect to the Borrower or any of its Material
Subsidiaries: (i) a court or governmental agency having jurisdiction in the premises shall enter a decree or order for relief in respect of the Borrower or any of its Material Subsidiaries in an involuntary case under any applicable bankruptcy,
insolvency or other similar law now or hereafter in effect, or appoint a receiver, liquidator, assignee, custodian, trustee, sequestrator or similar official of the Borrower or any of its Material Subsidiaries or for any substantial part of its
property or order the winding up or liquidation of its affairs; or (ii) an involuntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect is commenced against the Borrower or any of its Material
Subsidiaries and such petition remains unstayed and in effect for a period of 60 consecutive days; or (iii) the Borrower or any of its Material Subsidiaries shall commence a voluntary case under any applicable bankruptcy, insolvency or other
similar law now or hereafter in effect, or consent to the entry of an order for relief in an involuntary case under any such law, or consent to the appointment or taking possession by a receiver, liquidator, assignee, custodian, trustee,
sequestrator or similar official of such Person or any substantial part of its property or make any general assignment for the benefit of creditors; or (iv) the Borrower or any of its Material Subsidiaries shall admit in writing its inability
to pay its debts generally as they become due or any action shall be taken by such Person in furtherance of any of the aforesaid purposes. 

(f)    Defaults under Other Agreements. With respect to any indebtedness of the Borrower in excess of $100,000,000
(other than indebtedness outstanding under this Agreement or Non-Recourse Indebtedness) (A) the Borrower shall (1) default in any payment (beyond the applicable grace period with respect thereto, if
any) with respect to any such indebtedness, or (2) default (after giving effect to any applicable grace period) in the observance or performance of any covenant or agreement relating to such indebtedness or contained in any instrument or
agreement evidencing, securing or relating thereto, or any other event or condition 

  
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shall occur or condition exist, the effect of which default or other event or condition is to cause, or permit, the holder of the holders of such indebtedness (or trustee or agent on behalf of
such holders) to cause (determined without regard to whether any notice or lapse of time is required) any such indebtedness to become due prior to its stated maturity; or (B) any such indebtedness shall be declared due and payable, or required
to be prepaid other than by a regularly scheduled required prepayment, or by a mandatory prepayment upon specified events or conditions, in each case, prior to the stated maturity thereof; or (C) any such indebtedness shall mature and remain
unpaid. 
 (g)    Judgments. One or more final judgments, orders, or decrees shall be entered against the Borrower
involving a liability of $100,000,000 or more, in the aggregate (to the extent not paid or covered by insurance provided by a carrier who has acknowledged coverage) and such judgments, orders or decrees shall continue unsatisfied, undischarged and
unstayed for a period of 90 days; provided that if such judgment, order or decree provides for periodic payments over time then the Borrower shall have a grace period of 30 days with respect to each such periodic payment. 

(h)    ERISA. The occurrence of any of the following events or conditions if any of the same would be reasonably
expected to result in a liability of an amount greater than or equal to $20,000,000: (A) any “accumulated funding deficiency,” as such term is defined in Section 302 of ERISA and Section 412 of the Code, whether or not waived,
shall exist with respect to any Plan, or any lien shall arise on the assets of the Borrower or any ERISA Affiliate in favor of the PBGC or a Plan; (B) a Termination Event shall occur with respect to a Single Employer Plan, which is, in the
reasonable opinion of the Administrative Agent, likely to result in the termination of such Plan for purposes of Title IV of ERISA; (C) a Termination Event shall occur with respect to a Multiemployer Plan or Multiple Employer Plan, which is, in
the reasonable opinion of the Administrative Agent, likely to result in (i) the termination of such Plan for purposes of Title IV of ERISA, or (ii) the Borrower or any ERISA Affiliate incurring any liability in connection with a withdrawal
from, reorganization of (within the meaning of Section 4241 of ERISA), or insolvency (within the meaning of Section 4245 of ERISA) of such Plan; or (D) any prohibited transaction (within the meaning of Section 406 of ERISA or
Section 4975 of the Code) or breach of fiduciary responsibility shall occur which would be reasonably expected to subject the Borrower or any ERISA Affiliate to any liability under Sections 406, 409, 502(i), or 502(l) of ERISA or
Section 4975 of the Code, or under any agreement or other instrument pursuant to which the Borrower or any ERISA Affiliate has agreed or is required to indemnify any person against any such liability. 

(i)    Change of Control. The occurrence of any Change of Control. 

Section 7.2.    Acceleration; Remedies. Upon the occurrence and during the
continuation of an Event of Default, the Administrative Agent may, with the consent of the Required Lenders, and shall, upon the request and direction of the Required Lenders, by written notice to the Borrower take any of the following actions
without prejudice to the rights of the Administrative Agent or any Lender to enforce its claims against the Borrower, except as otherwise specifically provided for herein: 

(a)    Termination of Commitments. Declare the Commitments terminated whereupon the Commitments shall be immediately
terminated. 

  
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 (b)    Acceleration of Loans. Declare the unpaid amount of all
Obligations to be due whereupon the same shall be immediately due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Borrower. 

(c)    Enforcement of Rights. Enforce any and all rights and interests created and existing under the Credit
Documents or otherwise available at law or in equity, including, without limitation, all rights of set-off. 

Notwithstanding the foregoing, if an Event of Default specified in Section 7.1(e) shall occur, then the Commitments shall
automatically terminate and all Loans, all accrued interest in respect thereof, all accrued and unpaid fees and other indebtedness or obligations owing to the Lenders and the Administrative Agent hereunder shall immediately become due and payable
without the giving of any notice or other action by the Administrative Agent or the Lenders. 
 Notwithstanding the fact that enforcement powers reside
primarily with the Administrative Agent, each Lender has, to the extent permitted by law, a separate right of payment and shall be considered a separate “creditor” holding a separate “claim” within the meaning of
Section 101(5) of the Bankruptcy Code or any other insolvency statute. 

Section 7.3.    Allocation of Payments After Event of Default. 

Notwithstanding any other provisions of this Agreement, but subject in all respects to Section 2.22, after the
occurrence of an Event of Default, all amounts collected or received by the Administrative Agent or any Lender on account of amounts outstanding under any of the Credit Documents shall be paid over or delivered as follows: 

FIRST, to the payment of all reasonable
out-of-pocket costs and expenses (including without limitation reasonable attorneys’ fees) of the Administrative Agent or any of the Lenders in connection with
enforcing the rights of the Lenders under the Credit Documents, pro rata as set forth below; 
 SECOND, to payment of any
fees owed to the Administrative Agent or any Lender, pro rata as set forth below; 
 THIRD, to the payment of all accrued
interest payable to the Lenders hereunder, pro rata as set forth below; 
 FOURTH, to the payment of the outstanding
principal amount of the Loans, pro rata as set forth below; 
 FIFTH, to all other obligations which shall have become due
and payable under the Credit Documents and not repaid pursuant to clauses “FIRST” through “FOURTH” above; and 

SIXTH, to the payment of the surplus, if any, to whoever may be lawfully entitled to receive such surplus. 

In carrying out the foregoing, (a) amounts received shall be applied in the numerical order provided until exhausted prior to application to the next
succeeding category and (b) each of the Lenders shall receive an amount equal to its pro rata share (based on the proportion that the then outstanding Loans held by such Lender bears to the aggregate then outstanding Loans) of amounts available
to be applied. 

  
 46 

 ARTICLE VIII 

THE ADMINISTRATIVE AGENT 

Section 8.1.    Appointment of Administrative Agent. Each Lender irrevocably
appoints Crédit Agricole Corporate and Investment Bank as the Administrative Agent and authorizes it to take such actions on its behalf and to exercise such powers as are delegated to the Administrative Agent under this Agreement and the
other Credit Documents, together with all such actions and powers that are reasonably incidental thereto. The Administrative Agent may perform any of its duties hereunder or under the other Credit Documents by or through any one or more sub-agents or attorneys-in-fact appointed by the Administrative Agent. The Administrative Agent and any such sub-agent or attorney-in-fact may perform any and all of its duties and exercise its rights and powers through their respective Related
Parties. The exculpatory provisions set forth in this Article shall apply to any such sub-agent or attorney-in-fact and the
Related Parties of the Administrative Agent, any such sub-agent and any such attorney-in-fact 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. 

Section 8.2.    Nature of Duties of Administrative Agent. The Administrative Agent
shall not have any duties or obligations except those expressly set forth in this Agreement and the other Credit Documents. 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 or an Event of 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
those discretionary rights and powers expressly contemplated by the Credit Documents that the Administrative Agent is required to exercise in writing by the Required Lenders (or such other number or percentage of the Lenders as shall be necessary
under the circumstances as provided in Section 9.2), and (c) except as expressly set forth in the Credit Documents, the Administrative Agent shall not have any duty to disclose, and shall not be liable for the failure
to disclose, any information relating to the Borrower or any of its Subsidiaries that is communicated to or obtained by the Administrative Agent or any of its Affiliates in any capacity. The Administrative Agent shall not be liable for any action
taken or not taken by it, its sub-agents or attorneys-in-fact 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 9.2) or in the absence of its own gross negligence or willful misconduct as determined by a court of competent
jurisdiction by final and nonappealable judgment. The Administrative Agent shall not be responsible for the negligence or misconduct of any sub-agents or attorneys-in-fact selected by it with reasonable care. The Administrative Agent shall not be deemed to have knowledge of any Default or Event of Default unless and until written notice thereof (which notice
shall include an express reference to such event being a “Default” or “Event of Default” hereunder) is given to the Administrative Agent by the Borrower or any 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 Credit Document, (ii) the contents of any certificate, report or other document delivered hereunder or thereunder or
in connection herewith or therewith, (iii) the performance or observance of any of the covenants, agreements, or other terms and conditions set forth in any Credit Document, (iv) the validity, enforceability, effectiveness or genuineness
of any Credit Document or any other agreement, instrument or document, or (v) the satisfaction of any condition set forth in Article III or 

  
 47 

 
elsewhere in any Credit Document, other than to confirm receipt of items expressly required to be delivered to the Administrative Agent. The Administrative Agent may consult with legal counsel
(including counsel for the Borrower) concerning all matters pertaining to such duties. 

Section 8.3.    Lack of Reliance on the Administrative Agent. Each of the Lenders
acknowledges that it has, independently and without reliance upon the Administrative Agent or any other Lender and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this
Agreement. Each of the Lenders also acknowledges that it will, independently and without reliance upon the Administrative Agent or any other Lender and based on such documents and information as it has deemed appropriate, continue to make its own
decisions in taking or not taking of any action under or based on this Agreement, any related agreement or any document furnished hereunder or thereunder. 

Section 8.4.    Certain Rights of the Administrative Agent. If the Administrative
Agent shall request instructions from the Required Lenders with respect to any action or actions (including the failure to act) in connection with this Agreement, the Administrative Agent shall be entitled to refrain from such act or taking such
act, unless and until it shall have received instructions from such Lenders; and the Administrative Agent shall not incur liability to any Person by reason of so refraining. Without limiting the foregoing, no Lender shall have any right of action
whatsoever against the Administrative Agent as a result of the Administrative Agent acting or refraining from acting hereunder in accordance with the instructions of the Required Lenders where required by the terms of this Agreement. 

Section 8.5.    Reliance by Administrative Agent. The Administrative Agent shall
be entitled to rely upon, and shall not incur any liability for relying upon, any notice, request, certificate, consent, statement, instrument, document or other writing believed by it to be genuine and to have been signed, sent or made by the
proper Person. The Administrative Agent may also 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 (including counsel for the Borrower), independent public 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 such counsel, accountants or
experts. 
 Section 8.6.    The Administrative Agent in its Individual Capacity.
The bank serving as the Administrative Agent shall have the same rights and powers under this Agreement and any other Credit Document in its capacity as a Lender as any other Lender and may exercise or refrain from exercising the same as though it
were not the Administrative Agent; and the terms “Lenders”, “Required Lenders” or any similar terms shall, unless the context clearly otherwise indicates, include the Administrative Agent in its individual capacity. The bank
acting as the Administrative Agent and its Affiliates may accept deposits from, lend money to, and generally engage in any kind of business with the Borrower or any Subsidiary or Affiliate of the Borrower as if it were not the Administrative Agent
hereunder. 
 Section 8.7.    Successor Administrative Agent. 

(a)    The Administrative Agent may resign at any time by giving written notice thereof to the Lenders and the Borrower.
Upon any such resignation, the Required Lenders shall have the right to appoint a successor Administrative Agent, subject to the approval by the Borrower provided that no Default or Event of Default shall exist at such time. If no successor
Administrative Agent shall have been so appointed, and shall have accepted such 

  
 48 

 
appointment within 30 days after the retiring Administrative Agent gives notice of resignation, then the retiring Administrative Agent may, on behalf of the Lenders, appoint a successor
Administrative Agent, which shall be a commercial bank organized under the laws of the United States of America or any state thereof or a bank which maintains an office in the United States, having a combined capital and surplus of at least
$500,000,000. 
 (b)    Upon the acceptance of its appointment as the Administrative Agent hereunder by a successor,
such successor Administrative Agent shall thereupon 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 under this Agreement and the other Credit Documents. If within 45 days after written notice is given of the retiring Administrative Agent’s resignation under this Section 8.7 no successor Administrative
Agent shall have been appointed and shall have accepted such appointment, then on such 45th day (i) the retiring Administrative Agent’s resignation shall become effective, (ii) the
retiring Administrative Agent shall thereupon be discharged from its duties and obligations under the Credit Documents and (iii) the Required Lenders shall thereafter perform all duties of the retiring Administrative Agent under the Credit
Documents until such time as the Required Lenders appoint a successor Administrative Agent as provided above. After any retiring Administrative Agent’s resignation hereunder, the provisions of this Article shall continue in effect for the
benefit of such retiring Administrative Agent and its representatives and agents in respect of any actions taken or not taken by any of them while it was serving as the Administrative Agent. 

Section 8.8.    Syndication Agent. Each of the Lenders and the Borrower hereby
acknowledges and agrees that the Syndication Agent shall have no duties or obligations under any Credit Documents to any Lender or the Borrower. 

ARTICLE IX 

MISCELLANEOUS 

Section 9.1.    Notices. 

(a)    Except in the case of notices and other communications expressly permitted to be given by telephone, all notices and
other communications to any party herein to be effective shall be in writing and shall be delivered by hand or overnight courier service, mailed by certified or registered mail, sent by telecopy or to the extent permitted below, by email as follows:

  

					
	 To the Borrower:
	  	Atmos Energy Corporation
		  	Three Lincoln Centre, Suite 1800
		  	5430 LBJ Freeway
		  	Dallas, Texas 75240
		  	Attention: Chief Financial Officer
		  	Telecopy Number: (972) 855-3793
		  	 Email Address:

Chris.Forsythe@atmosenergy.com

  
 49 

					
		
	 With a copy to:
	  	Atmos Energy Corporation
		  	700 Three Lincoln Centre
		  	5430 LBJ Freeway
		  	Dallas, Texas 75240
		  	Attention: Treasurer
		  	Telecopy Number: (214) 550-9326
		  	Email Address: dan.meziere@atmosenergy.com
		
	 and
	  	Atmos Energy Corporation
		  	Three Lincoln Centre, Suite 1800
		  	5430 LBJ Freeway
		  	Dallas, Texas 75240
		  	Attention: General Counsel
		  	Telecopy Number: (972) 855-3080
		  	 Email Address:

Karen.Hartsfield@atmosenergy.com

		
	 To the Administrative Agent:
	  	
		
	 For operations topics:
	  	Crédit Agricole Corporate and Investment Bank
		  	1301 Avenue of the Americas – Loan Operations
		  	New York, NY 10019
		  	Attention:	  	Shonda Fisher & Jaikissoon Sanichar
		  	Email Address:	  	Shonda.fisher@ca-cib.com
		  		  	Jaikissoon.sanichar@ca-cib.com
		
	 With a copy to:
	  	Crédit Agricole Corporate and Investment Bank
		  	1301 Avenue of the Americas – AAMO 20th Floor
		  	New York, NY 10019
		  	Attention:	  	Marisol Ortiz & Dominique Schillio
		  	Email Address:	  	marisol.ortiz@ca-cib.com
		  		  	Dominique.Schillio@ca-cib.com
		  	and
		
		  	King & Spalding LLP
		  	1180 Peachtree Street, N.E.
		  	Atlanta, Georgia 30309
		  	Attention: Carolyn Z. Alford
		  	Telecopy Number: (404) 572-5100
		  	Email Address: czalford@kslaw.com
		
	 For all other topics:
	  	Crédit Agricole Corporate and Investment Bank
		  	1301 Avenue of the Americas – AAMO 20th Floor
		  	New York, NY 10019
		  	Attention:	  	Marisol Ortiz & Dominique Schillio
		  	Email Address:	  	marisol.ortiz@ca-cib.com
		  		  	Dominique.Schillio@ca-cib.com
		
		  	and

  
 50 

					
		
	 With a copy to:
	  	Crédit Agricole Corporate and Investment Bank
		  	1301 Avenue of the Americas – DOD 16th Floor
		  	New York, NY 10019
		  	Attention:	  	Andrew Sidford & Manuel Barroetavena
		  	Email Address:	  	Andrew.Sidford@ca-cib.com
		  		  	Manuel.Barroetavena@ca-cib.com
		
		  	and
		
		  	King & Spalding LLP
		  	1180 Peachtree Street, N.E.
		  	Atlanta, Georgia 30309
		  	Attention: Carolyn Z. Alford
		  	Telecopy Number: (404) 572-5100
		  	Email Address: czalford@kslaw.com
		
	 To any other Lender:
	  	the address set forth in the Administrative Questionnaire or the Assignment and Acceptance executed by such Lender

 Notices and other communications hereunder may be delivered or furnished by electronic communication (including e-mail and Internet or intranet websites) pursuant to procedures approved by the Administrative Agent, provided that the foregoing shall not apply to notices to any Lender pursuant to Article II if such
Lender has notified the Administrative Agent that it is incapable of receiving notices under such Article by electronic communication. The Administrative Agent or the Borrower may, in its discretion, agree to accept notices and other communications
to it hereunder by electronic communications pursuant to procedures approved by it, provided that approval of such procedures may be limited to particular notices or communications. Unless the Administrative Agent otherwise prescribes,
(i) notices and other communications sent to an e-mail address shall be deemed received upon the sender’s receipt of an acknowledgement from the intended recipient (such as by the “return
receipt requested” function, as available, return e-mail or other written acknowledgement), provided that if such notice or other communication is not sent during the normal business hours of the
recipient, such notice or communication shall be deemed to have been sent at the opening of business on the next business day for the recipient, and (ii) notices or communications posted to an Internet or intranet website shall be deemed
received upon the deemed receipt by the intended recipient at its e-mail address as described in the foregoing clause (i) of notification that such notice or communication is available and identifying the
website address therefor. 
 Any party hereto may change its address or telecopy number for notices and other communications hereunder by notice to the
other parties hereto. All such notices and other communications shall, when transmitted by overnight delivery, or faxed, be effective when delivered for overnight (next-day) delivery, or transmitted in legible
form by facsimile machine, respectively, or if mailed, upon the third Business Day after the date deposited into the mail or if delivered, upon delivery; provided, that notices delivered to the Administrative Agent shall not be effective until
actually received by such Person at its address specified in this Section 9.1 during normal business hours for such Person, or if received after normal business hours for such Person, such notice shall be effective on the
next Business Day. 
 (b)    Any agreement of the Administrative Agent and the Lenders herein to receive certain notices
by telephone or facsimile is solely for the convenience and at the request of the Borrower. The Administrative Agent and the Lenders shall be entitled to rely on the authority of any Person purporting to be a Person authorized by the Borrower to
give such notice 

  
 51 

 
and the Administrative Agent and Lenders shall not have any liability to the Borrower or other Person on account of any action taken or not taken by the Administrative Agent or the Lenders in
reliance upon such telephonic or facsimile notice. The obligation of the Borrower to repay the Loans and all other Obligations hereunder shall not be affected in any way or to any extent by any failure of the Administrative Agent and the Lenders to
receive written confirmation of any telephonic or facsimile notice or the receipt by the Administrative Agent and the Lenders of a confirmation which is at variance with the terms understood by the Administrative Agent and the Lenders to be
contained in any such telephonic or facsimile notice. 
 (c)    The Borrower agrees that the Administrative Agent may,
but shall not be obligated to, make the Communications (as defined below) available to the other Lenders by posting the Communications on Debt Domain, Intralinks, Syndtrak or a substantially similar electronic transmission system (the
“Platform”). The Platform is provided “as is” and “as available”. The Agent Parties (as defined below) do not warrant the adequacy of the Platform and expressly disclaim liability for errors or omissions in the
Communications. No warranty of any kind, express, implied or statutory, including, without limitation, any warranty of merchantability, fitness for a particular purpose, non-infringement of third-party rights
or freedom from viruses or other code defects, is made by any Agent Party in connection with the Communications of the Platform. In no event shall the Administrative Agent or any of its Related Parties (collectively, the “Agent
Parties”) have any liability to the Borrower, any Lender or any other Person or entity for damages of any kind, including, without limitation, direct or indirect, special, incidental or consequential damages, losses or expenses
(whether in tort, contract or otherwise) arising out of Borrower’s or the Administrative Agent’s transmission of Communications through the Platform. “Communications” means, collectively, any notice, demand, communication,
information, document or other material that the Borrower provides to the Administrative Agent pursuant to any Credit Document or the transactions contemplated therein which is distributed to the Administrative Agent or any Lender by means of
electronic communications pursuant to this Section, including through the Platform. 

Section 9.2.    Waiver; Amendments. 

(a)    No failure or delay by the Administrative Agent or any Lender in exercising any right or power hereunder or any
other Credit Document, and no course of dealing between the Borrower and the Administrative Agent or any Lender, 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 right or power, preclude any other or further exercise thereof or the exercise of any other right or power hereunder or thereunder. The rights and remedies of the Administrative Agent and the Lenders hereunder
and under the other Credit Documents are cumulative and are not exclusive of any rights or remedies provided by law. No waiver of any provision of this Agreement or any other Credit 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 9.2, and then such waiver or consent shall be effective only in the specific instance and for the purpose for which
given. Without limiting the generality of the foregoing, the making of a Loan shall not be construed as a waiver of any Default or Event of Default, regardless of whether the Administrative Agent or any Lender may have had notice or knowledge of
such Default or Event of Default at the time. 
 (b)    No amendment or waiver of any provision of this Agreement or the
other Credit Documents (excluding the Fee Letter, which may be amended by written agreement executed by each of the parties thereto), nor consent to any departure by the Borrower therefrom, shall in any event be effective unless the same shall be in
writing and signed by the Borrower and 

  
 52 

 
the Required Lenders or the Borrower and the Administrative Agent with the consent of the Required Lenders and then such waiver or consent shall be effective only in the specific instance and for
the specific purpose for which given; provided, that no amendment or waiver shall: (i) increase the Commitment of any Lender without the written consent of such Lender, (ii) reduce the principal amount of any Loan or reduce the rate
of interest thereon, or reduce any fees payable hereunder, without the written consent of each Lender affected thereby, (iii) postpone the date fixed for any payment of any principal of, or interest on, any Loan or interest thereon or any fees
hereunder or reduce the amount of, waive or excuse any such payment, or postpone the scheduled date for the termination or reduction of any Commitment, without the written consent of each Lender affected thereby, (iv) change the definition of
“Pro Rata Share” or Section 2.18(b) or (c) in a manner that would alter the pro rata sharing of payments required thereby, without the written consent of each Lender, (v) change any of the
provisions of this Section 9.2 or the definition of “Required Lenders” or any other provision hereof specifying the number or percentage of Lenders which are required to waive, amend or modify any rights hereunder
or make any determination or grant any consent hereunder, without the consent of each Lender; (vi) release any guarantor or limit the liability of any such guarantor under any guaranty agreement, without the written consent of each Lender other
than Defaulting Lenders; (vii) release all or substantially all collateral (if any) securing any of the Obligations, without the written consent of each Lender other than Defaulting Lenders; provided further, that no such agreement shall
amend, modify or otherwise affect the rights, duties or obligations of the Administrative Agent without the prior written consent of such Person. Notwithstanding anything contained herein to the contrary, this Agreement may be amended and restated
without the consent of any Lender (but with the consent of the Borrower and the Administrative Agent) if, upon giving effect to such amendment and restatement, such Lender shall no longer be a party to this Agreement (as so amended and restated),
the Commitments of such Lender shall have terminated (but such Lender shall continue to be entitled to the benefits of Sections 2.15, 2.16, 2.17 and 9.3), such Lender shall have no other commitment or other obligation
hereunder and shall have been paid in full all principal, interest and other amounts owing to it or accrued for its account under this Agreement. 

Section 9.3.    Expenses; Indemnification. 

(a)    The Borrower shall pay (i) all reasonable,
out-of-pocket costs and expenses of the Administrative Agent and its Affiliates, including the reasonable fees, charges and disbursements of counsel for the
Administrative Agent and its Affiliates, in connection with the syndication of the credit facilities provided for herein, the preparation and administration of the Credit Documents and any amendments, modifications or waivers thereof (whether or not
the transactions contemplated in this Agreement or any other Credit Document shall be consummated), and (ii) all reasonable out-of-pocket costs and expenses
(including, without limitation, the reasonable fees, charges and disbursements of outside counsel and the allocated cost of inside counsel) incurred by the Administrative Agent or any Lender in connection with the enforcement or protection of its
rights in connection with this Agreement, including its rights under this Section 9.3, or in connection with the Loans made hereunder, including all such
out-of-pocket expenses incurred during any workout, restructuring or negotiations in respect of such Loans. 

(b)    The Borrower shall indemnify the Administrative Agent (and any sub-agent
thereof), the Joint Lead Arrangers, each Lender and each Related Party of any of the foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and all losses, claims,
damages, liabilities and related expenses (including the reasonable fees, charges and disbursements of any counsel for any Indemnitee), and shall indemnify and hold harmless each Indemnitee from all fees and time charges and

  
 53 

 
disbursements for attorneys who may be employees of any Indemnitee, incurred by any Indemnitee or asserted against any Indemnitee by any third party or by the Borrower arising out of, in
connection with, or as a result of (i) the execution or delivery of this Agreement, any other Credit Document or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations
hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (ii) any Loan or the use or proposed use of the proceeds therefrom, (iii) any actual or alleged presence or Release of Hazardous Materials on
or from any property owned or operated by the Borrower or any of its Subsidiaries, or any liability arising under the Environmental Laws related in any way to the Borrower or any of its Subsidiaries, or (iv) any actual or prospective claim,
litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, and regardless of whether any Indemnitee is a party thereto,
provided that such indemnity shall not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related expenses (x) are determined by a court of competent jurisdiction by final and
nonappealable judgment to have resulted from the gross negligence or willful misconduct of such Indemnitee or (y) result from a claim brought by the Borrower against an Indemnitee for breach in bad faith of such Indemnitee’s obligations
hereunder or under any other Credit Document, if the Borrower has obtained a final and nonappealable judgment in its favor on such claim as determined by a court of competent jurisdiction. 

(c)    The Borrower shall pay, and hold the Administrative Agent and each of the Lenders harmless from and against, any and
all present and future stamp, documentary, and other similar taxes with respect to this Agreement and any other Credit Documents, any collateral described therein, or any payments due thereunder, and save the Administrative Agent and each Lender
harmless from and against any and all liabilities with respect to or resulting from any delay or omission to pay such taxes. 

(d)    To the extent that the Borrower fails to pay any amount required to be paid to the Administrative Agent under
clauses (a), (b) or (c) hereof, each Lender severally agrees to pay to the Administrative Agent such Lender’s Pro Rata Share (determined as of the time that the unreimbursed expense or indemnity payment is sought) of such unpaid amount;
provided, that the unreimbursed expense or indemnified payment, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent in its capacity as such. 

(e)    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 actual or direct damages) arising out of, in connection with or as a result of, this Agreement or any agreement or instrument
contemplated hereby, the transactions contemplated therein, any Loan or the use of proceeds thereof. 
 (f)    All
amounts due under this Section 9.3 shall be payable promptly after written demand therefor. 

Section 9.4.    Successors and Assigns. 

(a)    The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their
respective successors and assigns permitted hereby, except that the Borrower may not assign or otherwise transfer any of its rights or obligations hereunder 

  
 54 

 
without the prior written consent of the Administrative Agent and each Lender, and no Lender may assign or otherwise transfer any of its rights or obligations hereunder except (i) to an
assignee in accordance with the provisions of paragraph (b) of this Section, (ii) by way of participation in accordance with the provisions of paragraph (d) of this Section or (iii) by way of pledge or assignment of a security
interest subject to the restrictions of paragraph (f) of this Section (and any other attempted assignment or transfer by any party hereto shall be null and void). Nothing in this Agreement, expressed or implied, shall be construed to confer
upon any Person (other than the parties hereto, their respective successors and assigns permitted hereby, Participants to the extent provided in paragraph (d) of this Section and, to the extent expressly contemplated hereby, the Related Parties
of each of the Administrative Agent and the Lenders) any legal or equitable right, remedy or claim under or by reason of this Agreement. 

(b)    Any Lender may at any time assign to one or more assignees all or a portion of its rights and obligations under this
Agreement (including all or a portion of its Commitment and the Loans at the time owing to it); provided that any such assignment shall be subject to the following conditions: 

(i)    Minimum Amounts. 

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

(B)    in any case not described in paragraph (b)(i)(A) of this Section, the aggregate amount of the
Commitment (which for this purpose includes Loans and Credit Exposure outstanding thereunder) or, if the applicable Commitment is not then in effect, the principal outstanding balance of the Loans and Credit Exposure of the assigning Lender subject
to each such assignment (determined as of the date the Assignment and Acceptance with respect to such assignment is delivered to the Administrative Agent or, if “Trade Date” is specified in the Assignment and Acceptance, as of the
“Trade Date”) shall not be less than $5,000,000, unless each of the Administrative Agent and, so long as no Event of Default has occurred and is continuing, the Borrower otherwise consents (each such consent not to be unreasonably withheld
or delayed). 
 (ii)    Proportionate Amounts. Each partial assignment shall be made as an
assignment of a proportionate part of all the assigning Lender’s rights and obligations under this Agreement with respect to the Loans, Credit Exposure or the Commitment assigned. 

(iii)    Required Consents. No consent shall be required for any assignment except to the extent
required by paragraph (b)(i)(B) of this Section and, in addition: 
 (A)    the consent of the Borrower
(such consent not to be unreasonably withheld or delayed) shall be required unless (x) an Event of Default has occurred and is continuing at the time of such assignment or (y) such assignment is to a Lender, an Affiliate of a Lender
or an Approved Fund; provided that, the Borrower will be deemed to have provided consent if it fails to approve or disapprove of such assignment within ten (10) Business Days after the date on which it receives notice thereof. 

  
 55 

 (B)    the consent of the Administrative Agent (such
consent not to be unreasonably withheld or delayed) shall be required for assignments to a Person that is not a Lender, an Affiliate of a Lender or an Approved Fund. 

(iv)    Assignment and Acceptance. The parties to each assignment shall deliver to the
Administrative Agent (A) a duly executed Assignment and Acceptance, (B) a processing and recordation fee of $3,500, (C) an Administrative Questionnaire unless the assignee is already a Lender and (D) the documents required under
Section 2.17(e) if such assignee is a Foreign Lender. 
 (v)    No
Assignment to Borrower. No such assignment shall be made to the Borrower or any of the Borrower’s Affiliates or Subsidiaries. 

(vi)    No Assignment to Natural Persons or Defaulting Lender. No such assignment shall be made to a
natural person (or an investment vehicle or trust for the primary benefit of a natural person or relatives of a natural person) or a Defaulting Lender or an Affiliate thereof. 

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

Subject to acceptance and recording thereof by the Administrative Agent pursuant to paragraph (c) of this Section 9.4, from and
after the effective date specified in each Assignment and Acceptance, the assignee thereunder shall be a party to this Agreement and, to the extent of the interest assigned by such Assignment and Acceptance, 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 Acceptance, be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance
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 2.15, 2.16, 2.17 and 9.3
with respect to facts and circumstances occurring prior to the effective date of such assignment. Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this paragraph 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 (d) of this Section 9.4. 

  
 56 

 (c)    The Administrative Agent shall maintain at one of its offices a
copy of each Assignment and Acceptance delivered to it and a register for the recordation of the names and addresses of the Lenders, and the Commitments of, and principal amount of the Loans and Credit Exposure owing to, each Lender pursuant to the
terms hereof from time to time (the “Register”). The entries in the Register shall be conclusive absent manifest error, and the Borrower, the Administrative Agent and the Lenders may treat each Person whose name is recorded in the
Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. The Register shall be available for inspection by the Borrower and any Lender (as to its commitment only), at any
reasonable time and from time to time upon reasonable prior notice. 
 (d)    Any Lender may at any time, without the
consent of, or notice to, the Borrower or the Administrative Agent, sell participations to any Person (other than a natural person (or an investment vehicle or trust for the primary benefit of a natural person or relatives of a natural person), the
Borrower, any of the Borrower’s Affiliates or Subsidiaries or any Defaulting Lender) (each, a “Participant”) in all or a portion of such Lender’s rights and/or obligations under this Agreement (including all or a portion
of its Commitment and/or the Loans owing to it); provided that (i) such Lender’s obligations under this Agreement shall remain unchanged, (ii) such Lender shall remain solely responsible to the other parties hereto for the
performance of such obligations and (iii) the Borrower, the Administrative Agent and the Lenders shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under this Agreement. 

(e)    Any agreement or instrument pursuant to which a Lender sells such a participation shall provide that such Lender
shall retain the sole right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; provided that such agreement or instrument may provide that such Lender will not, without the
consent of the Participant, agree to any amendment, modification or waiver with respect to the following to the extent affecting such Participant: (i) increase the Commitment of any Lender without the written consent of such Lender,
(ii) reduce the principal amount of any Loan or reduce the rate of interest thereon, or reduce any fees payable hereunder, without the written consent of each Lender affected thereby, (iii) postpone the date fixed for any payment of any
principal of, or interest on, any Loan or interest thereon or any fees hereunder or reduce the amount of, waive or excuse any such payment, or postpone the scheduled date for the termination or reduction of any Commitment, without the written
consent of each Lender affected thereby, (iv) change Section 2.18(b) or (c) in a manner that would alter the pro rata sharing of payments required thereby, without the written consent of each Lender,
(v) change any of the provisions of this Section 9.4 or the definition of “Required Lenders” or any other provision hereof specifying the number or percentage of Lenders which are required to waive, amend or
modify any rights hereunder or make any determination or grant any consent hereunder, without the consent of each Lender; (vi) release any guarantor or limit the liability of any such guarantor under any guaranty agreement without the written
consent of each Lender except to the extent such release is expressly provided under the terms of this Agreement or such guaranty agreement; or (vii) release all or substantially all collateral (if any) securing any of the Obligations. Subject
to paragraph (e) of this Section 9.4, the Borrower agrees that each Participant shall be entitled to the benefits of Sections 2.15, 2.16, and 2.17 to the same extent as if it were a Lender and had
acquired its interest by assignment pursuant to paragraph (b) of this Section 9.4, provided, that such Participant agrees to be subject to the provisions of Sections 2.19 and 2.20 as if it were an
assignee hereunder, further, to the extent permitted by law, each Participant also shall be entitled to the benefits of Section 9.7 as though it were a Lender, provided such Participant agrees to be subject to
Section 2.15 as though it were a Lender. 

  
 57 

 (f)    A Participant shall not be entitled to receive any greater
payment under Section 2.15 and Section 2.17 than the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant, unless the sale of the
participation to such Participant is made with the Borrower’s prior written consent. A Participant that would be a Foreign Lender if it were a Lender shall not be entitled to the benefits of Section 2.17 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 2.17(e) as though it were a Lender. 

(g)    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 other central bank or a Governmental Authority having jurisdiction over any Lender or its
parent; provided that no such pledge or assignment shall release such Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto. 

Section 9.5.    Governing Law; Jurisdiction; Consent to Service of Process. 

(a)    This Agreement and the other Credit Documents shall be construed in accordance with and be governed by the law
(without giving effect to the conflict of law principles thereof, except for Sections 5-1401 and 5-1402 of the New York General Obligations Law) of the State of New
York.  
 (b)    The Borrower hereby irrevocably and unconditionally submits, for itself and its property, to the
exclusive jurisdiction of the United States District Court of the Southern District of New York, and of any state court of the State of New York sitting in New York County and any appellate court from any thereof, in any action or proceeding arising
out of or relating to this Agreement or any other Credit Document or the transactions contemplated hereby or thereby, 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 court or, to the extent permitted by applicable law, such Federal court. Each of the parties hereto agrees that a final judgment in any
such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in this Agreement or any other Credit Document shall affect any right that the
Administrative Agent or any Lender may otherwise have to bring any action or proceeding relating to this Agreement or any other Credit Document against the Borrower or its properties in the courts of any jurisdiction. 

(c)    The Borrower irrevocably and unconditionally waives any objection which it may now or hereafter have to the laying
of venue of any such suit, action or proceeding described in paragraph (b) of this Section 9.5 and brought in any court referred to in paragraph (b) of this Section 9.5. Each of the
parties hereto irrevocably waives, to the fullest extent permitted by applicable law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court. 

(d)    Each party to this Agreement irrevocably consents to the service of process in the manner provided for notices in
Section 9.1, provided that such service of process is delivered only by overnight courier, signature required. Nothing in this Agreement or in any other Credit Document will affect the right of any party hereto to serve
process in any other manner permitted by law. 

  
 58 

 Section 9.6.    WAIVER OF JURY
TRIAL. EACH PARTY HERETO IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF THIS AGREEMENT OR ANY OTHER CREDIT
DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER 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 AND THE OTHER CREDIT
DOCUMENTS BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION. 

Section 9.7.    Right of Setoff. In addition to any rights now or hereafter
granted under applicable law and not by way of limitation of any such rights, each Lender shall have the right, at any time or from time to time upon the occurrence and during the continuance of an Event of Default, without prior notice to the
Borrower, any such notice being expressly waived by the Borrower to the extent permitted by applicable law, to set off and apply against all deposits (general or special, time or demand, provisional or final) of the Borrower at any time held or
other obligations at any time owing by such Lender to or for the credit or the account of the Borrower against any and all Obligations held by such Lender irrespective of whether such Lender shall have made demand hereunder and although such
Obligations may be unmatured. Each Lender agrees promptly to notify the Administrative Agent and the Borrower after any such set-off and any application made by such Lender; provided, that the failure
to give such notice shall not affect the validity of such set-off and application. Each Lender agrees to apply all amounts collected from any such set-off to the
Obligations before applying such amounts to any other indebtedness or other obligations owed by the Borrower and any of its Subsidiaries to such Lender. 

Section 9.8.    Counterparts; Integration. This Agreement may be executed by one
or more of the parties to this Agreement on any number of separate counterparts (including by telecopy), and all of said counterparts taken together shall be deemed to constitute one and the same instrument. This Agreement, the Fee Letter, the other
Credit Documents, and any separate letter agreement(s) relating to any fees payable to the Administrative Agent constitute the entire agreement among the parties hereto and thereto regarding the subject matters hereof and thereof and supersede all
prior agreements and understandings, oral or written, regarding such subject matters. Delivery of an executed counterpart to this Agreement or any other Loan Document by facsimile transmission or by electronic mail in pdf format shall be as
effective as delivery of a manually executed counterpart hereof. 

Section 9.9.    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 this Agreement shall be considered to have been relied upon by the other parties hereto and shall survive the execution
and delivery of this Agreement and the making of any Loans, regardless of any investigation made by any such other party or on its behalf and notwithstanding that the Administrative Agent or any Lender may have had notice or knowledge of any Default
or incorrect representation or warranty at the time any credit is extended hereunder, and shall continue in full force and effect as long as the principal of or any accrued interest on any Loan or any fee or any other amount payable under this
Agreement is 

  
 59 

 
outstanding and unpaid and so long as the Commitments have not expired or terminated. The provisions of Sections 2.15, 2.16, 2.17, and 9.3 and Article VIII
shall survive and remain in full force and effect regardless of the consummation of the transactions contemplated hereby, the repayment of the Loans, the expiration or termination of the Commitments or the termination of this Agreement or any
provision hereof. All representations and warranties made herein, in the certificates, reports, notices, and other documents delivered pursuant to this Agreement shall survive the execution and delivery of this Agreement and the other Credit
Documents, and the making of the Loans. 
 Section 9.10.    Severability. Any
provision of this Agreement or any other Credit Document held to be illegal, invalid or unenforceable in any jurisdiction, shall, as to such jurisdiction, be ineffective to the extent of such illegality, invalidity or unenforceability without
affecting the legality, validity or enforceability of the remaining provisions hereof or thereof; and the illegality, invalidity or unenforceability of a particular provision in a particular jurisdiction shall not invalidate or render unenforceable
such provision in any other jurisdiction. 
 Section 9.11.    Confidentiality.
Each of the Administrative Agent and each Lender agrees to take normal and reasonable precautions to maintain the confidentiality of any Information, except that such Information may be disclosed (i) to any Related Party of the Administrative
Agent or any such Lender, including without limitation accountants, legal counsel and other advisors, (ii) to the extent required by applicable laws or regulations or by any subpoena or similar legal process, (iii) to the extent requested
by any regulatory agency or authority or self-regulatory organization, (iv) to the extent that such information becomes publicly available other than as a result of a breach of this Section 9.11, or which becomes
available to the Administrative Agent, any Lender or any Related Party of any of the foregoing on a non-confidential basis from a source other than the Borrower, (v) in connection with the exercise of any
remedy hereunder or any suit, action or proceeding relating to this Agreement or the enforcement of rights hereunder, (vi) subject to provisions substantially similar to this Section 9.11, to any actual or prospective
assignee or Participant, or to any direct or indirect contractual counterparties (or the professional advisors thereto) to any swap or derivative transaction or any credit insurance provider, in each case, relating to Borrower and its obligations,
(vii) on a confidential basis to (a) any rating agency in connection with rating the Borrower, its Subsidiaries or the facilities or (b) the CUSIP Service Bureau or any similar agency in connection with the issuance and monitoring of
CUSIP numbers with respect to the facilities, or (viii) with the consent of the Borrower. Any Person required to maintain the confidentiality of any information as provided for in this Section 9.11 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 its own confidential information. For the purposes of this Section,
“Information” means all information received from the Borrower relating to the Borrower or its business, other than any such information that is available to the Administrative Agent or any Lender on a nonconfidential basis prior to
disclosure by the Borrower; 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. 

Section 9.12.    Interest Rate Limitation. Notwithstanding anything herein to the
contrary, if at any time the interest rate applicable to any Loan, together with all fees, charges and other amounts which may be treated as interest on such Loan under applicable law (collectively, the “Charges”), shall exceed the
maximum lawful rate of interest (the “Maximum Rate”) which may be contracted for, charged, taken, received or reserved by a Lender holding such Loan in accordance with applicable law, the rate of interest payable in respect of such
Loan hereunder, together with all Charges payable in respect thereof, shall be limited to the Maximum 

  
 60 

 
Rate and, to the extent lawful, the interest and Charges that would have been payable in respect of such Loan but were not payable as a result of the operation of this
Section 9.12 shall be cumulated and the interest and Charges payable to such Lender in respect of other Loans or periods shall be increased (but not above the Maximum Rate therefor) until such cumulated amount, together
with interest thereon at the Federal Funds Rate to the date of repayment, shall have been received by such Lender. 

Section 9.13.    Waiver of Effect of Corporate Seal. The Borrower
represents and warrants that it is not required to affix its corporate seal to this Agreement or any other Credit Document pursuant to any requirement of law or regulation, agrees that this Agreement is delivered by Borrower under seal and waives
any shortening of the statute of limitations that may result from not affixing the corporate seal to this Agreement or such other Credit Documents. 

Section 9.14.    Patriot Act.    The
Administrative Agent and each Lender hereby notifies the Borrower that pursuant to the requirements of the USA PATRIOT Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)) (the
“Patriot Act”), it is required to obtain, verify and record information that identifies the Borrower, which information includes the name and address of the Borrower and other information that will allow such Lender or the
Administrative Agent, as applicable, to identify the Borrower in accordance with the Patriot Act. The Borrower shall, and shall cause each of its Subsidiaries to, provide to the extent commercially reasonable, such information and take such other
actions as are reasonably requested by the Administrative Agent or any Lender in order to assist the Administrative Agent and the Lenders in maintaining compliance with the Patriot Act.  

Section 9.15.    No Fiduciary Duty. The Administrative Agent, the
Syndication Agent, the Joint Lead Arrangers, each Lender and their Affiliates (collectively, solely for purposes of this paragraph, the “Lenders”), may have economic interests that conflict with those of Borrower. Borrower
agrees that nothing in the Credit Documents or otherwise will be deemed to create an advisory, fiduciary or agency relationship or fiduciary or other implied duty between the Lenders and Borrower, its stockholders or its affiliates. The
Borrower acknowledges and agrees that (i) the transactions contemplated by the Credit Documents are arm’s-length commercial transactions between the Lenders, on the one hand, and Borrower, on the
other, (ii) in connection therewith and with the process leading to such transaction each of the Lenders is acting solely as a principal and not the agent or fiduciary of Borrower, its management, stockholders, creditors or any other person,
(iii) no Lender has assumed an advisory or fiduciary responsibility in favor of Borrower with respect to the transactions contemplated hereby or the process leading thereto (irrespective of whether any Lender or any of its affiliates has
advised or is currently advising Borrower on other matters) or any other obligation to Borrower except the obligations expressly set forth in the Credit Documents and (iv) Borrower has consulted its own legal and financial advisors to the
extent it deemed appropriate. Borrower further acknowledges and agrees that it is responsible for making its own independent judgment with respect to such transactions and the process leading thereto. Borrower agrees that it will not claim
that any Lender has rendered advisory services of any nature or respect, or owes a fiduciary or similar duty to Borrower, in connection with such transaction or the process leading thereto. 

  
 61 

 Section 9.16.    Acknowledgment and
Consent to Bail-In of EEA Financial Institutions. Notwithstanding anything to the contrary in any Credit Document or in any other agreement, arrangement or understanding among any such parties, each
party hereto acknowledges that any liability of any EEA Financial Institution arising under any Credit Document, to the extent such liability is unsecured, may be subject to the write-down and conversion powers of an EEA Resolution Authority and
agrees and consents to, and acknowledges and agrees to be bound by: 
 (a)    the application of any
Write-Down and Conversion Powers by an EEA Resolution Authority to any such liabilities arising hereunder which may be payable to it by any party hereto that is an EEA Financial Institution; and 

(b)    the effects of any Bail-In Action on any such liability,
including, if applicable: 
 (i)    a reduction in full or in part or cancellation of any such liability;

 (ii)    a conversion of all, or a portion of, such liability into shares or other instruments of
ownership in such EEA Financial Institution, its parent undertaking, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or other instruments of ownership will be accepted by it in lieu of any rights
with respect to any such liability under this Agreement or any other Credit Document; or 
 (iii)    the
variation of the terms of such liability in connection with the exercise of the write-down and conversion powers of any EEA Resolution Authority. 

(remainder of page left intentionally blank) 

  
 62 

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

			
	ATMOS ENERGY CORPORATION, as Borrower
		
	By:	 	/S/ DANIEL M. MEZIERE
	Name:	 	 Daniel M. Meziere

	Title:	 	 Vice President and Treasurer

  
 [Signature Page to
Term Loan Agreement] 

 
			
	 CRÉDIT AGRICOLE CORPORATE AND INVESTMENT BANK,

as Administrative Agent and as a Lender

		
	By:	 	/S/ JILL WONG
		 	Name: Jill Wong
		 	Title: Director
		
	By:	 	/S/ GORDON YIP
		 	Name: Gordon Yip
		 	Title: Director
	
	CANADIAN IMPERIAL BANK OF COMMERCE, NEW YORK BRANCH, as a Lender
		
	By:	 	/S/ ANJU ABRAHAM
		 	Name: Anju Abraham
		 	Title: Authorized Signatory

  
 [Signature Page to
Term Loan Agreement] 

 Schedule I 

APPLICABLE MARGINS 
  

													
	 Level
	  	 Rating Category: Moody’s/S&P
	  	Applicable Margin
for Eurodollar
Advances	  	Applicable Margin
for Base Rate
Advances
	 I
	  	Aa3/AA- or higher	  	 	 	1.125	%	  	 	 	0.125	%
	 II
	  	A1/A+	  	 	 	1.250	%	  	 	 	0.250	%
	 III
	  	A2/A	  	 	 	1.375	%	  	 	 	0.375	%
	 IV
	  	A3/A-	  	 	 	1.500	%	  	 	 	0.500	%
	 V
	  	Baa1/ BBB+ or lower	  	 	 	1.750	%	  	 	 	0.750	%

 The credit ratings to be utilized for purposes of this Schedule are those assigned to the senior, unsecured
long-term debt securities of the Borrower without third-party credit enhancement, whether or not any such debt securities are actually outstanding, and any rating assigned to any other debt security of the Borrower shall be disregarded. The rating
in effect on any date is that in effect at the close of business on such date. If the ratings established or deemed to have been established by Moody’s and S&P for the Borrower fall within different Levels, the highest rating (or
numerically lower Level) shall apply, unless the ratings differ by more than one Level, in which case, the governing rating shall be the rating next below the highest of the two. If the Borrower is not rated by Moody’s or S&P, then
the rate shall be established by reference to Level V. 
 If the rating system of Moody’s or S&P shall change, or if any of these
rating agencies shall cease to be in the business of rating corporate debt obligations, the Borrower, the Lenders and the Administrative Agent shall negotiate in good faith to amend this Schedule to reflect such changed rating system or the
unavailability of ratings from such rating agency and, pending the effectiveness of any such amendment, the Applicable Margin and the Applicable Percentage shall be determined by reference to the rating most recently in effect prior to any such
change or cessation. If after a reasonable time (not to exceed 90 days) the parties cannot agree to a mutually acceptable amendment, the Applicable Margin and the Applicable Percentage shall be determined by reference to Level V. 

  
 [SCHEDULE I]

 Schedule II 

COMMITMENT AMOUNTS 
  

					
	 Lender
	  	Commitment
Amount	 
	 Crédit Agricole Corporate and Investment Bank
	  	$	100,000,000.00	 
	 Canadian Imperial Bank of Commerce, New York Branch
	  	$	100,000,000.00	 
	 TOTAL
	  	$	200,000,000.00	 

  
 [SCHEDULE II]Exhibit 4.1

 

This TENTH SUPPLEMENTAL INDENTURE (this
 “Tenth Supplemental Indenture”), dated as of April 13, 2020, among KEURIG DR PEPPER INC., a Delaware corporation
(the “Company”), the Guarantors listed in Schedule I (the “Guarantors”), and WELLS
FARGO BANK, N.A., as trustee (the “Trustee”).

 

RECITALS

 

WHEREAS, the Company and the Trustee have
heretofore executed and delivered an indenture, dated as of December 15, 2009 (the “Base
Indenture” and, together with this Tenth Supplemental Indenture, and as such may be amended, supplemented or otherwise
modified from time to time, the “Indenture”), providing for the issuance
by the Company from time to time of its debt securities to be issued in one or more series;

 

WHEREAS, Sections 2.1 and 9.1 of the Base
Indenture provide, among other things, that the Company and the Trustee may, without the consent of Holders, enter into indentures
supplemental to the Base Indenture to provide for specific terms applicable to any series of notes;

 

WHEREAS, Section 2.1 of the Base Indenture
provides, among other things, that there shall be established in or pursuant to a Board Resolution, and set forth, or determined
in the manner provided, in an Officers’ Certificate of the Company or in a Company Order, or established in one or more indentures
supplemental to the Base Indenture, prior to the issuance of Securities of any series whether Securities of the series are entitled
to the benefits of any Securities Guarantee of any Guarantor pursuant to the Indenture, the identity of any such Guarantors, whether
Notations of such Securities Guarantees are to be included on such Securities and any terms of such Securities Guarantee with respect
to the Securities of the series in addition to those set forth in Article X of the Base Indenture, or any exceptions to
or changes to those set forth in Article X of the Base Indenture;

 

WHEREAS, Section 10.1 of the Base Indenture
provides that prior to the authentication and delivery upon original issuance of Securities of any series that are to be guaranteed
by a Person, the Company, the Trustee and such Person shall have entered into a supplemental indenture pursuant to Section 9.1(11)
of the Base Indenture whereby such Person shall have executed a Securities Guarantee under the Base Indenture with respect to any
series of Securities as to which such Person has been so established pursuant to Section 2.1 of the Base Indenture as a Guarantor
thereof;

 

WHEREAS, the Company intends by this Tenth
Supplemental Indenture to create and provide for the issuance of two new separate series of debt securities to be designated as
the “3.200% Senior Notes due 2030” (the “2030 Notes”) and
the “3.800% Senior Notes due 2050” (the “2050 Notes” and,
together with the 2030 Notes, the “Notes”);

 

WHEREAS, the Company intends by this Tenth
Supplemental Indenture to provide that each series of the Notes will be entitled to the benefits of the Securities Guarantee of
the Guarantors;

 

     

     

    

 

WHEREAS, the Guarantors intend by this Tenth
Supplemental Indenture to execute a Securities Guarantee with respect to each series of the Notes;

 

WHEREAS, pursuant to Section 9.1(9) and
(11) of the Base Indenture, the Trustee, the Company and the Guarantors are authorized to execute and deliver this Tenth Supplemental
Indenture to amend or supplement the Base Indenture, without the consent of any Holder of Notes; and

 

WHEREAS, all things necessary to make the
Notes, when executed by the Company and authenticated and delivered by the Trustee, issued upon the terms and subject to the conditions
set forth hereinafter and in the Base Indenture and delivered as provided in the Base Indenture against payment therefor, valid,
binding and legal obligations of the Company and the Guarantors according to their terms, and all actions required to be taken
by the Company and the Guarantors under the Base Indenture to make this Tenth Supplemental Indenture a valid, binding and legal
agreement of the Company and the Guarantors, have been done;

 

NOW, THEREFORE, in consideration of the
premises and for other good and valuable consideration, the sufficiency and adequacy of which are hereby acknowledged, the parties
hereto hereby agree as follows:

 

Article I

DEFINITIONS AND INCORPORATION BY REFERENCE

 

Section 1.01       
Definitions.

 

(a)              
All capitalized terms used herein and not otherwise defined below shall have the meanings ascribed thereto in the Base Indenture.

 

(b)              
The following are definitions used in this Tenth Supplemental Indenture, and to the extent that a term is defined both herein
and in the Base Indenture, the definition in this Tenth Supplemental Indenture shall govern with respect to the Notes.

 

“Attributable Debt” in
respect of a sale and leaseback transaction means, at any time of determination, the present value at that time of the obligation
of the lessee for net rental payments during the remaining term of the lease included in such sale and leaseback transaction. Such
present value will be calculated using a discount rate equal to the rate of interest implicit in such transaction, determined in
accordance with GAAP; provided, however, that if such sale and leaseback transaction results in a Capital Lease Obligation,
the amount of Attributable Debt represented thereby will be determined in accordance with the definition of “Capital Lease
Obligation.”

 

“Capital Lease Obligation”
means, at any time of determination, the amount of the liability in respect of a capital lease that would at that time be required
to be capitalized on a balance sheet prepared in accordance with GAAP; provided, however, that all obligations of any Person
that are or would have been treated as operating leases for purposes of GAAP after the application of Accounting Standard Codification
Topic 842 shall not constitute Capital Lease Obligations for the purposes of the Indenture (whether or not such operating lease
obligations were in effect on such date) notwithstanding the fact that such obligations are required in accordance with Accounting
Standard Codification Topic 842 to be treated as balance sheet liabilities in any financial statements to be delivered pursuant
to Section 5.04.

 

    2

     

    

 

“Capital Stock” means:
(1) in the case of a corporation, corporate stock; (2) in the case of an association or business entity, any and all shares, interests,
participations, rights or other equivalents (however designated) of corporate stock; (3) in the case of a partnership or limited
liability company, partnership or membership interests (whether general or limited); and (4) any other interest or participation
that confers on a Person the right to receive a share of the profits and losses of, or distributions of assets of, the issuing
Person.

 

“Change of Control” means
the occurrence of any of the following: (1) the consummation of any transaction (including, without limitation, any merger or consolidation)
resulting in any “person” (as that term is used in Section 13(d)(3) of the Exchange Act) (other than the Company or
one of its Subsidiaries) becoming the beneficial owner (as defined in Rules 13d-3 and 13d- 5 under the Exchange Act), directly
or indirectly, of more than 50% of the Voting Stock of the Company or other Voting Stock into which the Voting Stock of the Company
is reclassified, consolidated, exchanged or changed, measured by voting power rather than number of shares or (2) the direct or
indirect sale, transfer, conveyance or other disposition (other than by way of merger or consolidation), in a transaction or a
series of related transactions, of all or substantially all of the Company’s assets and the assets of its Subsidiaries, taken
as a whole, to one or more Persons (other than the Company or one of its subsidiaries). Notwithstanding the foregoing, a transaction
will not be considered to be a Change of Control if (a) the Company becomes a direct or indirect wholly-owned subsidiary of a holding
company and (b)(i) immediately following that transaction, the direct or indirect holders of the Voting Stock of the holding company
are substantially the same as the holders of the Company’s Voting Stock immediately prior to that transaction or (ii) immediately
following that transaction no Person is the beneficial owner, directly or indirectly, of more than 50% of the Voting Stock of the
holding company.

 

“Change of Control Triggering Event”
means the occurrence of both a Change of Control and a Rating Event.

 

“Consolidated Total Assets”
means, with respect to any Person, as of any date of determination, the total assets reflected on the consolidated balance sheet
of such Person and its subsidiaries as of the end of the most recently ended fiscal quarter of such Person for which consolidated
financial statements have been prepared, determined on a consolidated basis in accordance with GAAP.

 

“Credit Agreements” means
the Existing Credit Agreements as such agreements may be amended, supplemented or otherwise modified from time to time, and any
agreement, indenture or other documentation relating to extensions, refinancings, replacements or restructuring of the credit facilities
governed by the Existing Credit Agreements, whether the same or any other agent, agents, lenders or group of lenders is or are
parties thereto.

 

“Existing Credit Agreements”
means the (i) the credit agreement, dated as of February 28, 2018 (as amended, rested, amended and rested, supplemented or
otherwise modified from time to time), by and among the Company as borrower, the lenders party thereto and JPMorgan Chase Bank,
N.A., as administrative agent, (ii) the credit agreement, dated as of May 29, 2019 (as amended, rested, amended and rested, supplemented
or otherwise modified from time to time), by and among the Company as borrower, the lenders party thereto and JPMorgan Chase Bank,
N.A., as administrative agent and (iii) a term loan agreement, dated as of February 8, 2019 (as amended, rested, amended and rested,
supplemented or otherwise modified from time to time), by and among the Company as borrower, the lenders party thereto and JPMorgan
Chase Bank, N.A., as administrative agent.

 

    3

     

    

 

“Fitch” means Fitch,
Inc.

 

“Funded Debt” means Indebtedness
which by its terms matures at or is extendible or renewable at the option of the obligor to date more than 12 months after the
date of the creation or incurrence of such Indebtedness.

 

“Indebtedness” means,
with respect to any Person, without duplication, any indebtedness of such Person, whether or not contingent: (1) in respect of
borrowed money; (2) evidenced by bonds, notes, debentures, or similar instruments or letters of credit (or reimbursement agreements
with respect thereto); (3) in respect of banker’s acceptances, bank guarantees, surety bonds or similar instruments; (4)
representing Capital Lease Obligations; or (5) representing the balance deferred and unpaid of the purchase price of any property
or services due more than six months after such property is acquired or such services are completed, except any such balance that
constitutes a trade payable or similar obligation to a trade creditor incurred in the ordinary course of business; if and to the
extent any of the preceding items (other than letters of credit) would appear as a liability upon a balance sheet (excluding the
notes thereto) of the specified Person prepared in accordance with GAAP.

 

In addition, the term “Indebtedness”
includes all of the following items, whether or not any such items would appear as a liability on a balance sheet of the specified
Person in accordance with GAAP: (1) all Indebtedness of others secured by a Lien on any asset of the specified Person (whether
or not such Indebtedness is assumed by the specified Person); and (2) to the extent not otherwise included, any guarantee by the
specified Person of Indebtedness of any other Person.

 

“Investment Grade Rating”
means a rating equal to or higher than BBB- (or the equivalent) by Fitch, Baa3 (or the equivalent) by Moody’s and BBB- (or
the equivalent) by S&P, and the equivalent investment grade credit rating from any replacement Rating Agency or Rating Agencies
selected by the Company.

 

“Lien” means any mortgage,
lien, pledge, charge, security interest or other encumbrance of any kind, whether or not filed, recorded or otherwise perfected
under applicable law, including any conditional sale or other title retention agreement, any lease in the nature thereof, any option
or other agreement to sell or give a security interest in and any filing of or agreement to give any financing statement under
the Uniform Commercial Code (or equivalent statute) of any jurisdiction. Notwithstanding the foregoing, an operating lease shall
not be deemed to constitute a Lien.

 

    4

     

    

 

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

 

“Par Call Date” means
February 1, 2030 (in the case of the 2030 Notes) or November 1, 2049 (in the case of the 2050 Notes).

 

“Permitted Encumbrances”
means: (1) Liens imposed by law for taxes, assessments or governmental charges that are not overdue for a period of more than
30 days or that are being contested in good faith; (2) carriers’, warehousemen’s, mechanics’, materialmen’s,
repairmen’s and other like Liens imposed by law, arising in the ordinary course of business and securing obligations that
are not overdue by more than 30 days (or if more than 30 days overdue, are unfiled and no other action has been taken to enforce
such Liens) or are being contested in good faith; (3) (i) pledges and deposits made in the ordinary course of business in compliance
with workers’ compensation, unemployment insurance and other social security laws or regulations and (ii) pledges and deposits
in the ordinary course of business securing liability for reimbursement or indemnification obligations of (including obligations
in respect of letters of credit or bank guarantees for the benefit of) insurance carriers providing property, casualty or liability
insurance to the Company or any Subsidiary of the Company; (4) deposits to secure the performance of bids, trade contracts (other
than for the repayment of borrowed money), leases, statutory obligations, surety and appeal bonds, performance bonds and other
obligations of a like nature (including those to secure health, safety and environmental obligations), in each case in the ordinary
course of business; (5) judgment liens for the payment of money (i) not in excess of $75,000,000 in the aggregate (to the extent
not covered by independent third-party insurance) or (ii) in respect of judgments that the Company or a Subsidiary of the Company
is in good faith prosecuting an appeal or other proceeding for review or Liens incurred by the Company or a Subsidiary of the
Company for the purpose of obtaining a stay or discharge in the course of any litigation or other proceeding to which the Company
or a Subsidiary of the Company is a party; (6) easements, restrictions, rights-of-way and similar encumbrances and minor title
defects on real property imposed by law or arising in the ordinary course of business that do not secure any payment obligations
and do not, in the aggregate, materially detract from the value of the affected property or interfere with the ordinary conduct
of business of the Company or any Subsidiary of the Company; (7) leases, licenses, subleases or sublicenses granted to others
in the ordinary course of business which do not (i) interfere in any material respect with the business of the Company and its
Subsidiaries, taken as a whole, or (ii) secure any Indebtedness; (8) Liens in favor of customs and revenue authorities arising
as a matter of law to secure payment of customs duties in connection with the importation of goods in the ordinary course of business;
(9) Liens (i) of a collection bank on the items in the course of collection, (ii) attaching to commodity trading accounts or other
commodities brokerage accounts incurred in the ordinary course of business and (iii) in favor of a banking or other financial
institution arising as a matter of law encumbering deposits or other funds maintained with a financial institution (including
the right of set off) and which are customary in the banking industry; (10) any interest or title of a lessor under leases entered
into by the Company or any of its Subsidiaries in the ordinary course of business and financing statements with respect to a lessor’s
right in and to personal property leased to the Company or any of its Subsidiaries in the ordinary course of the Company’s
or any of its Subsidiaries’ business other than through a finance lease; (11) Liens arising out of conditional sale, title
retention, consignment or similar arrangements for sale of goods entered into by the Company or any of its Subsidiaries in the
ordinary course of business; (12) Liens deemed to exist in connection with Permitted Investments and reasonable customary initial
deposits and margin deposits and similar Liens attaching to commodity trading accounts or other brokerage accounts maintained
in the ordinary course of business and not for speculative purposes; (13) Liens that are contractual rights of set-off: (i) relating
to the establishment of depository relations with banks or other financial institutions not given in connection with the issuance
of Indebtedness, (ii) relating to pooled deposit or sweep accounts of the Company or any of its Subsidiaries to permit satisfaction
of overdraft or similar obligations incurred in the ordinary course of business of the Company and its Subsidiaries or (iii) relating
to purchase orders and other agreements entered into with customers of the Company or any Subsidiary of the Company in the ordinary
course of business; (14) Liens solely on any cash earnest money deposits made by the Company or any Subsidiaries in connection
with any letter of intent or purchase agreement; (15) ground leases in respect of real property on which facilities owned or leased
by the Company or any of its Subsidiaries are located; (16) Liens on insurance policies and the proceeds thereof securing the
financing of the premiums with respect thereto; (17) any zoning or similar law or right reserved to or vested in any governmental
authority to control or regulate the use of any real property that does not materially interfere with the ordinary conduct of
the business of the Company or any Subsidiary of the Company; (18) Liens securing indebtedness outstanding or incurred pursuant
to credit facilities (including any Indebtedness under any Credit Agreements) outstanding on the issue date; and (19) Liens on
specific items of inventory or other goods and the proceeds thereof securing such Person’s obligations in respect of documentary
letters of credit or banker’s acceptances issued or created for the account of such Person to facilitate the purchase, shipment
or storage of such inventory or goods.

 

    5

     

    

 

“Permitted Investments”
means: (1) direct obligations of, or obligations the principal of and interest on which are unconditionally guaranteed by, the
U.S. (or by any agency thereof to the extent such obligations are backed by the full faith and credit of the U.S.), in each case
maturing within one year from the date of acquisition thereof; (2) investments in commercial paper maturing within 270 days from
the date of acquisition thereof and having, at such date of acquisition, the highest credit rating obtainable from S&P or from
Moody’s; (3) investments in certificates of deposit, banker’s acceptances and time deposits maturing within 180 days
from the date of acquisition thereof issued or guaranteed by or placed with, and money market deposit accounts issued or offered
by, any domestic office of any commercial bank organized under the laws of the U.S. or any State thereof which has a combined capital
and surplus and undivided profits of not less than $500,000,000; (4) fully collateralized repurchase agreements with a term of
not more than 30 days for securities described in clause (1) above and entered into with a financial institution satisfying the
criteria described in clause (3) above; and (5) money market funds that (a) comply with the criteria set forth in SEC Rule 2a-7
under the Investment Company Act of 1940, as amended, (b) are rated AAA by S&P and Aaa by Moody’s and (c) have portfolio
assets of at least $5,000,000,000.

 

“Person” means any individual,
corporation, partnership, joint venture, association, limited liability company, joint-stock company, trust, unincorporated organization
or government or any agency or political subdivision thereof.

 

“Principal Property”
means any manufacturing, processing or bottling plant, warehouse or distribution center (including the land upon which it is situated),
owned and operated by the Company or any of its Subsidiaries, provided that the book value of such property is an amount greater
than 1% of Consolidated Total Assets of the Company.

 

    6

     

    

 

“Rating Agencies” means
(a) each of Fitch, Moody’s and S&P; and (b) if any of Fitch, Moody’s or S&P ceases to rate the Notes or fails
to make a rating of the Notes publicly available for reasons outside of the Company’s control, a “nationally recognized
statistical rating organization” (within the meaning of Section 3(a)(62) of the Exchange Act) selected by the Company as
a replacement Rating Agency for a former Rating Agency.

 

“Rating Event” means
the rating on the applicable series of Notes is lowered by each of the Rating Agencies and such Notes are rated below an Investment
Grade Rating by each of the Rating Agencies on any day within the 60-day period (which 60-day period will be extended so long as
the rating of the Notes is under publicly announced consideration for a possible downgrade by any of the Rating Agencies) after
the earlier of (a) the occurrence of a Change of Control or (b) public notice of the occurrence of a Change of Control or the Company’s
intention to effect a Change of Control; provided that a Rating Event will not be deemed to have occurred in respect of a particular
Change of Control (and thus will not be deemed a Rating Event for purposes of the definition of Change of Control Triggering Event)
if each Rating Agency making the reduction in rating does not publicly announce or confirm or inform the trustee in writing at
the Company’s request that the reduction was the result, in whole or in part, of any event or circumstance comprised of or
arising as a result of, or in respect of, the Change of Control (whether or not the applicable Change of Control has occurred at
the time of the Rating Event). If any Rating Agency that provided a rating of a series of Notes on the day immediately prior to
the beginning of such 60-day period (or extension thereof) is not providing a rating of such series of Notes at the end of such
60- day period (or extension thereof) for any reason, such 60-day period (or extension thereof) shall be extended an additional
30 days and, if the Company has not selected a replacement Rating Agency on or before the end of such 30-day period, then such
Rating Agency shall be deemed to have lowered its rating of such series of Notes at the end of such 30-day period to be below an
Investment Grade Rating.

 

“Remaining Scheduled Payments”
means, with respect to each series of Notes to be redeemed, the remaining scheduled payments of the principal and interest of such
Notes that would be due if such Notes matured on February 1, 2030 in the case of the 2030 Notes or on November 1, 2049 in the case
of the 2050 Notes.

 

“S&P” means S&P
Global Ratings.

 

“Statistical Release”
means that statistical release designated “H.15” or any successor publication published daily by the Board of Governors
of the Federal Reserve System and which establishes yields on actively traded U.S. Treasury securities adjusted to constant maturity,
or, if such release (or any successor publication) is no longer published at the time of any calculation under the Indenture, then
such other reasonably comparable index the Company designates.

 

“Treasury Rate” means,
the arithmetic mean (rounded to the nearest one-hundredth of one percent) of the yields displayed for each of the five most recent
days published in the most recent Statistical Release under the caption “Treasury constant maturities” for the maturity
(rounded to the nearest month) corresponding to the remaining life to maturity of the applicable series of Notes to be redeemed
(assuming such series of Notes mature on the applicable Par Call Date) as of the date of redemption. If no maturity exactly corresponds
to such remaining life to maturity, yields for the two published maturities most closely corresponding to such remaining life
to maturity shall be calculated pursuant to the immediately preceding sentence and the Treasury Rate shall be interpolated or
extrapolated from such yields on a straight-line basis, rounding in each of such relevant periods to the nearest month. The Treasury
Rate will be calculated by the Company on the third business day preceding the date the applicable notice of redemption is given
and the Company will, prior to the date the applicable notice of redemption is given, provide written notice executed by an officer
of the Company of the Treasury Rate to the Trustee, including the calculation thereof in reasonable detail. For the purpose of
calculating the Treasury Rate, the most recent Statistical Release published prior to the date of calculation of the Treasury
Rate shall be used.

 

    7

     

    

 

Section 1.02       
Other Definitions.

 

	Term	 	Defined in Section
	“2030 Interest Payment Date”	 	2.04(c)
	“2030 Notes”	 	Recitals
	“2030 Maturity Date”	 	2.04(b)
	“2030 Regular Record Date”	 	2.04(c)
	“2050 Interest Payment Date”	 	2.05(c)
	“2050 Notes”	 	Recitals
	“2030 Maturity Date”	 	2.05(b)
	“2030 Regular Record Date”	 	2.05(c)
	“Base Indenture”	 	Recitals
	“Change of Control Offer”	 	5.01(b)
	“Change of Control Payment”	 	5.01(a)
	“Change of Control Payment Date”	 	5.01(b)(ii)
	“Indenture”	 	Recitals

 

Section 1.03       
Incorporation by Reference of Trust Indenture Act.

 

The Indenture is subject to the mandatory
provisions of the Trust Indenture Act, which are incorporated by reference in and made a part of the Indenture. The following Trust
Indenture Act terms have the following meanings:

 

“indenture securities” means
the Notes.

 

“indenture security holder”
means a Holder.

 

“indenture to be qualified”
means this Tenth Supplemental Indenture.

 

“indenture trustee” or “institutional
trustee” means the Trustee.

 

“obligor” on the indenture securities
means the Company and the Guarantors and any other obligor on the indenture securities.

 

    8

     

    

 

All other Trust Indenture Act terms used
in this Tenth Supplemental Indenture that are defined by the Trust Indenture Act, defined by Trust Indenture Act reference to another
statute or defined by Commission rule have the meanings assigned to them by such definitions.

 

Article II

APPLICATION OF SUPPLEMENTAL INDENTURE AND CREATION, FORMS, TERMS AND CONDITIONS OF NOTES

 

Section 2.01       
Application of this Tenth Supplemental Indenture.

 

Notwithstanding any other provision of this
Tenth Supplemental Indenture, the provisions of this Tenth Supplemental Indenture, including the covenants set forth herein, are
expressly and solely for the benefit of the holders of the Notes. The Notes constitute two separate series of Securities as provided
in Section 2.1 of the Base Indenture.

 

Section 2.02       
Creation of the Notes. In accordance with Section 2.1 of the Base Indenture, the Company hereby creates each of the
2030 Notes and the 2050 Notes as a separate series of its Securities issued pursuant to the Indenture. The 2030 Notes shall be
issued initially in an aggregate principal amount of $750,000,000. The 2050 Notes shall be issued initially in an aggregate principal
amount of $750,000,000.

 

Section 2.03       
Form of the Notes. The Notes shall each be issued in the form of a Global Note, duly executed by the Company and
authenticated by the Trustee, which shall be deposited with the Trustee as custodian for DTC and registered in the name of “Cede
 & Co.,” as the nominee of DTC. The 2030 Notes shall be substantially in the form of Exhibit A attached hereto,
and the 2050 Notes shall be substantially in the form of Exhibit B attached hereto. So long as DTC, or its nominee, is the
registered owner of a Global Note, DTC or its nominee, as the case may be, shall be considered the sole owner or Holder of the
Notes represented by such Global Note for all purposes under the Indenture. Ownership of beneficial interests in such Global Note
shall be shown on, and transfers thereof will be effective only through, records maintained by DTC (with respect to beneficial
interests of participants) or by participants or Persons that hold interests through participants (with respect to beneficial interests
of beneficial owners).

 

Section 2.04       
Terms and Conditions of the 2030 Notes.

 

The 2030 Notes shall be governed by all
the terms and conditions of the Base Indenture, as supplemented by this Tenth Supplemental Indenture. In particular, the following
provisions shall be terms of the 2030 Notes:

 

(a)              
Title and Conditions of the 2030 Notes. The title of the 2030 Notes shall be as specified in the recitals; and the
aggregate principal amount of the 2030 Notes shall be as specified in Section 2.02 of this Article II, except for 2030 Notes authenticated
and delivered upon registration of transfer of, or in exchange for, or in lieu of, Notes pursuant to Sections 2.8, 2.9, 2.13, 2.16,
5.7 or 9.5 of the Base Indenture.

 

    9

     

    

 

(b)              
Stated Maturity. The 2030 Notes shall mature, and the principal of the 2030 Notes shall be due and payable in U.S.
Dollars to the Holders thereof, together with all accrued and unpaid interest thereon, on May 1, 2030 (the “2030 Maturity
Date”).

 

(c)              
Payment of Principal and Interest. The 2030 Notes shall bear interest at the rate of 3.200% per annum, from and including
April 13, 2020, or from the most recent 2030 Interest Payment Date (as defined hereafter) on which interest has been paid or provided
for until the principal thereof becomes due and payable, and on any overdue principal and (to the extent that payment of such interest
is enforceable under applicable law) on any overdue installment of interest at the same rate per annum. Interest shall be calculated
on the basis of a 360-day year comprised of twelve 30-day months. Interest on the 2030 Notes shall be payable semi-annually in
arrears in U.S. Dollars on May 1 and November 1 of each year, commencing on November 1, 2020 (each such date, a “2030
Interest Payment Date” for the purposes of the 2030 Notes under this Tenth Supplemental
Indenture). Payments of interest shall be made to the Person in whose name a 2030 Note (or predecessor 2030 Note) is registered
(which shall initially be the Depositary) at the close of business on April 15 or October 15 (whether or not such date is a Business
Day), as the case may be, immediately preceding such 2030 Interest Payment Date (each such date, a “2030 Regular
Record Date” for the purposes of the 2030 Notes under this Tenth Supplemental Indenture).

 

(d)              
Registration and Form. The 2030 Notes shall be issuable as registered securities as provided in Section 2.03 of this
Article II. The form of the 2030 Notes shall be as set forth in Exhibit A attached hereto. The 2030 Notes shall be issued
and may be transferred only in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof. All payments
of principal, redemption price and accrued unpaid interest in respect of the 2030 Notes shall be made by the Company by wire transfer
of immediately available funds in U.S. Dollars to the Depositary or its nominee, as the case may be, as the registered owner of
the Global Notes representing such 2030 Notes.

 

(e)              
Legal Defeasance and Covenant Defeasance. The provisions for legal defeasance in Section 8.2 of the Base Indenture,
and the provisions for covenant defeasance in Section 8.3 of the Base Indenture, shall be applicable to the 2030 Notes.

 

(f)               
Further Issuance. Notwithstanding anything to the contrary contained herein or in the Base Indenture, the Company
may, from time to time, without the consent of or notice to the Holders, create and issue further securities having the same ranking
and interest rate, maturity and other terms as the 2030 Notes, except for the issue date, and, in some cases the public offering
price and the first interest payment date. Additional 2030 Notes issued in this manner shall be consolidated and shall form a single
series with the previously outstanding 2030 Notes.

 

(g)              
Redemption. The 2030 Notes are subject to redemption by the Company in whole or in part in the manner described herein.

 

(h)              
Guarantees. The payment of the principal and any accrued and unpaid interest on the 2030 Notes, whether at the 2030
Maturity Date, by acceleration, by redemption or otherwise, is fully and unconditionally guaranteed, jointly and severally, by
the Guarantors as provided in Article X of the Base Indenture.

 

    10

     

    

 

(i)                
Priority. The 2030 Notes and the Securities Guarantees are senior unsecured obligations of the Company and the Guarantors,
respectively, and are equal in right of payment with all unsecured and unsubordinated indebtedness of the Company and the Guarantors,
respectively.

 

(j)                
Sinking Fund. The 2030 Notes are not entitled to any sinking fund.

 

(k)              
Other Terms and Conditions. The 2030 Notes shall have such other terms and conditions as provided in the form thereof
attached as Exhibit A hereto.

 

Section 2.05       
Terms and Conditions of the 2050 Notes.

 

The 2050 Notes shall be governed by all
the terms and conditions of the Base Indenture, as supplemented by this Tenth Supplemental Indenture. In particular, the following
provisions shall be terms of the 2050 Notes:

 

(a)              
Title and Conditions of the 2050 Notes. The title of the 2050 Notes shall be as specified in the recitals; and the
aggregate principal amount of the 2050 Notes shall be as specified in Section 2.02 of this Article II, except for 2050 Notes authenticated
and delivered upon registration of transfer of, or in exchange for, or in lieu of, Notes pursuant to Sections 2.8, 2.9, 2.13, 2.16,
5.7 or 9.5 of the Base Indenture.

 

(b)              
Stated Maturity. The 2050 Notes shall mature, and the principal of the 2050 Notes shall be due and payable in U.S.
Dollars to the Holders thereof, together with all accrued and unpaid interest thereon, on May 1, 2050 (the “2050 Maturity
Date”).

 

(c)              
Payment of Principal and Interest. The 2050 Notes shall bear interest at the rate of 3.800% per annum, from and including
April 13, 2020, or from the most recent 2050 Interest Payment Date (as defined hereafter) on which interest has been paid or provided
for until the principal thereof becomes due and payable, and on any overdue principal and (to the extent that payment of such interest
is enforceable under applicable law) on any overdue installment of interest at the same rate per annum. Interest shall be calculated
on the basis of a 360-day year comprised of twelve 30-day months. Interest on the 2050 Notes shall be payable semi-annually in
arrears in U.S. Dollars on May 1 and November 1 of each year, commencing on November 1, 2020 (each such date, a “2050
Interest Payment Date” for the purposes of the 2050 Notes under this Tenth Supplemental
Indenture). Payments of interest shall be made to the Person in whose name a 2050 Note (or predecessor 2050 Note) is registered
(which shall initially be the Depositary) at the close of business on April 15 or October 15 (whether or not such date is a Business
Day), as the case may be, immediately preceding such 2050 Interest Payment Date (each such date, a “2050 Regular
Record Date” for the purposes of the 2050 Notes under this Tenth Supplemental Indenture).

 

(d)              
Registration and Form. The 2050 Notes shall be issuable as registered securities as provided in Section 2.03 of
this Article II. The form of the 2050 Notes shall be as set forth in Exhibit B attached hereto. The 2050 Notes shall be
issued and may be transferred only in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof. All
payments of principal, redemption price and accrued unpaid interest in respect of the 2050 Notes shall be made by the Company
by wire transfer of immediately available funds in U.S. Dollars to the Depositary or its nominee, as the case may be, as the registered
owner of the Global Notes representing such 2050 Notes.

 

    11

     

    

 

(e)              
Legal Defeasance and Covenant Defeasance. The provisions for legal defeasance in Section 8.2 of the Base Indenture,
and the provisions for covenant defeasance in Section 8.3 of the Base Indenture, shall be applicable to the 2050 Notes.

 

(f)               
Further Issuance. Notwithstanding anything to the contrary contained herein or in the Base Indenture, the Company
may, from time to time, without the consent of or notice to the Holders, create and issue further securities having the same ranking
and interest rate, maturity and other terms as the 2050 Notes, except for the issue date, and, in some cases the public offering
price and the first interest payment date. Additional 2050 Notes issued in this manner shall be consolidated and shall form a single
series with the previously outstanding 2050 Notes.

 

(g)              
Redemption. The 2050 Notes are subject to redemption by the Company in whole or in part in the manner described herein.

 

(h)              
Guarantees. The payment of the principal and any accrued and unpaid interest on the 2050 Notes, whether at the 2050
Maturity Date, by acceleration, by redemption or otherwise, is fully and unconditionally guaranteed, jointly and severally, by
the Guarantors as provided in Article X of the Base Indenture.

 

(i)                
Priority. The 2050 Notes and the Securities Guarantees are senior unsecured obligations of the Company and the Guarantors,
respectively, and are equal in right of payment with all unsecured and unsubordinated indebtedness of the Company and the Guarantors,
respectively.

 

(j)                
Sinking Fund. The 2050 Notes are not entitled to any sinking fund.

 

(k)              
Other Terms and Conditions. The 2050 Notes shall have such other terms and conditions as provided in the form thereof
attached as Exhibit B hereto.

 

Article III

OPTIONAL REDEMPTION

 

Section 3.01       
Optional Redemption. The 2030 Notes are subject to redemption at any time or from time to time prior to February
1, 2030, in whole or in part, and the 2050 Notes are subject to redemption at any time or from time to time prior to November 1,
2049, in whole or in part, in each case, at the Company’s option at a redemption price equal to the greater of:

 

(i)                
100% of the principal amount of the Notes being redeemed, and

 

    12

     

    

 

(ii)             
the sum of the present values of the Remaining Scheduled Payments of the Notes to be redeemed discounted to the redemption
date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 40 basis points
in the case of the 2030 Notes and 40 basis points in the case of the 2050 Notes, plus, in each case, accrued and unpaid interest
thereon to, but excluding, the redemption date.

 

In addition, at any time or from time to
time on or after February 1, 2030 with respect to the 2030 Notes and November 1, 2049 with respect to the 2050 Notes, the Company
may redeem the 2030 Notes or the 2050 Notes, respectively, in whole or in part, at the Company’s option, at a redemption
price equal to 100% of the principal amount of the Notes to be redeemed, plus, in each case, accrued and unpaid interest thereon
to, but excluding, the redemption date.

 

Section 3.02       
Notices to Trustee.

 

If the Company elects to redeem the Notes
of any series pursuant to this Article III, it shall notify the Trustee in writing of the redemption date and the principal amount
of Notes to be redeemed.

 

The Company shall give each notice to the
Trustee provided for in this Section 3.02 upon not later than the earlier of 45 days before the redemption date or the date on
which notice is given to the Holders (unless the Trustee consents to a shorter period). Such notice shall be accompanied by an
Officers’ Certificate to the effect that such redemption will comply with the conditions herein and in the Base Indenture.

 

Section 3.03       
Selection of Notes to Be Redeemed.

 

If fewer than all the Notes of a series
are to be redeemed, the Company shall deliver to the Trustee, at least three Business Days before the notice of redemption is to
be sent to Holders (unless the Trustee agrees to a shorter period of time), an Officers’ Certificate requesting the Trustee
select the Notes of such series to be redeemed. The Trustee shall, subject to applicable law, select the Notes to be redeemed as
follows: (1) if the Notes are listed on any national securities exchange, in compliance with the requirements of the principal
national securities exchange on which the Notes are listed; or (2) on a pro rata basis, if the Notes are not listed on any national
securities exchange (or in the case of securities in global form, by such method DTC may require).

 

The Trustee shall make the selection of
Notes to be redeemed from outstanding Notes of such series not previously called for redemption. Provisions of this Tenth Supplemental
Indenture that apply to the Notes called for redemption also apply to portions of the Notes called for redemption. The Trustee
shall notify the Company promptly of the Notes or portions of the Notes to be redeemed.

 

Section 3.04       
Notice of Redemption.

 

At least 15 days but not more than 30 days
before the applicable redemption date of any series of Notes, the Company shall send a notice of redemption by first-class mail
or by electronic transmission to each Holder of such series of Notes to be redeemed at such Holder’s registered address;
provided, that redemption notices may be delivered more than 30 days prior to the redemption date if the notice is issued in connection
with a defeasance of the Notes or a satisfaction and discharge of the Indenture.

 

    13

     

    

 

The notice shall identify the Notes to be
redeemed (including the series, issue date, interest rate and maturity date) and shall state:

 

(a)              
the redemption date;

 

(b)              
the redemption price and the amount of accrued interest to the redemption date;

 

(c)              
the name and address of the Paying Agent;

 

(d)              
that the Notes called for redemption must be surrendered to the Paying Agent to collect the redemption price;

 

(e)              
if fewer than all the outstanding Notes are to be redeemed, the certificate numbers and principal amounts of the particular
Notes to be redeemed;

 

(f)               
if the Notes are to be redeemed in part, upon surrender of such Notes, the Holder will receive, without charge, a new Note
for the principal amount remaining unredeemed;

 

(g)              
that, unless the Company defaults in making such redemption payment or the Paying Agent is prohibited from making such payment
pursuant to the terms of the Indenture, interest on the Notes (or portion thereof) called for redemption ceases to accrue on and
after the redemption date;

 

(h)              
any conditions applicable to a redemption;

 

(i)                
the CUSIP number, if any, printed on the Notes being redeemed; and

 

(j)                
that no representation is made as to the correctness or accuracy of the CUSIP number, if any, listed in such notice or printed
on the Notes.

 

At the Company’s request, the Trustee
shall give the notice of redemption in the Company’s name and at the Company’s expense; provided, however, that
the Company shall have delivered to the Trustee, at least three Business Days before the notice of redemption is to be sent to
Holders (unless the Trustee agrees to a shorter period), an Officers’ Certificate requesting that the Trustee give such notice
and setting forth the information required by this Section 3.04.

 

Section 3.05       
Effect of Notice of Redemption.

 

Once notice of redemption is sent, the
Notes called for redemption become due and payable on the redemption date and at the redemption price stated in the notice. Upon
surrender to the Paying Agent, such Notes shall be paid at the redemption price stated in the notice, plus accrued interest, if
any, to the redemption date; provided, however, that installments of interest on the Notes that are due and payable on
the 2030 Interest Payment Date or the 2050 Interest Payment Date, as the case may be, falling on or prior to a redemption date
will be payable on such 2030 Interest Payment Date or 2050 Interest Payment Date to the registered Holders as of the close of
business on the relevant 2030 Regular Record Date or 2050 Regular Record Date, as the case may be, according to the terms of the
Notes and the Indenture. Failure to give notice or any defect in the notice to any Holder shall not affect the validity of the
notice to any other Holder.

 

    14

     

    

 

Section 3.06       
Deposit of Redemption Price.

 

Prior to 11:00 a.m., New York City time,
on the applicable redemption date, the Company shall deposit with the Paying Agent (or, if the Company is the Paying Agent, shall
segregate and hold in trust) money sufficient to pay the redemption price of, and accrued interest on, all Notes to be redeemed
on that date.

 

Section 3.07       
Notes Redeemed in Part.

 

Upon surrender of a Note that is redeemed
in part, the Company and the Guarantors shall execute, and the Trustee shall authenticate for the Holder (at the Company’s
expense), a new Note of such series equal in principal amount to the unredeemed portion of the Notes surrendered.

 

Article IV

CHANGE OF CONTROL

 

Section 4.01       
Change of Control.

 

(a)              
Upon the occurrence of a Change of Control Triggering Event with respect to a series of Notes, unless such Notes have been
called for redemption pursuant to Section 3.01 hereof, with such notice of redemption delivered on or before 30 days after such
Change of Control Triggering Event, each Holder of such Notes shall have the right to require the Company to repurchase all or
any part (equal to an integral multiple of $1,000) of such Holder’s Notes at an offer price in cash equal to 101% of the
aggregate principal amount of Notes repurchased plus any accrued and unpaid interest on the Notes repurchased to, but excluding,
the date of purchase (the “Change of Control Payment”).

 

(b)              
Within 30 days following any Change of Control Triggering Event or, at the Company’s option, prior to any proposed
Change of Control, but after the public announcement of the proposed Change of Control, the Company shall send, or cause to be
sent, a notice (a “Change of Control Offer”) to each Holder, with a
copy to the Trustee, describing the transaction or transactions that constitute or may constitute the Change of Control Triggering
Event and specifying:

 

(i)                
that the Change of Control Offer is being made pursuant to this Section 4.01 and that all Notes tendered will be accepted
for payment;

 

    15

     

    

 

(ii)             
the Change of Control Payment and the purchase date, which shall be a Business Day no earlier than 30 days and no later
than 60 days from the date such notice is sent (the “Change of Control Payment Date”);

 

(iii)           
the CUSIP numbers for the Notes;

 

(iv)            
that any Note not tendered will continue to accrue interest;

 

(v)              
that, unless the Company defaults in the payment of the Change of Control Payment, all Notes accepted for payment pursuant
to the Change of Control Offer will cease to accrue interest after the Change of Control Payment Date;

 

(vi)            
that Holders electing to have any Notes purchased pursuant to a Change of Control Offer will be required to surrender such
Notes to the Paying Agent at the address specified in the notice prior to the close of business on the third Business Day preceding
the Change of Control Payment Date;

 

(vii)         
that Holders will be entitled to withdraw their election referred to in clause (vi) if the Paying Agent receives, not later
than the close of business on the second Business Day preceding the Change of Control Payment Date, a facsimile transmission or
letter setting forth the name of the Holder, the principal amount of Notes delivered for purchase, and a statement that such Holder
is withdrawing his election to have the Notes purchased;

 

(viii)       
that Holders whose Notes of any series are being purchased only in part will be issued new Notes of such series equal in
principal amount to the unpurchased portion of the Notes surrendered, which unpurchased portion will be equal to a minimum of $2,000
in principal amount or an integral multiple of $1,000 in excess thereof; and

 

(ix)            
if the notice is sent prior to the date of consummation of the Change of Control, that the Change of Control Offer is conditioned
on the Change of Control Triggering Event occurring on or prior to the payment date specified in the notice.

 

(c)              
The Company shall cause the Change of Control Offer to remain open for at least 20 Business Days or such longer period as
is required by applicable law. The Company shall comply with the requirements of Rule 14e- 1 under the Exchange Act and any other
securities laws and regulations thereunder to the extent those laws and regulations are applicable in connection with the repurchase
of the Notes as a result of a Change of Control Triggering Event. To the extent that the provisions of any securities laws or regulations
conflict with the provisions of this Section 4.01, the Company will comply with the applicable securities laws and regulations
and will not be deemed to have breached its obligations under this Section 4.01 by virtue of such conflict.

 

(d)              
On the Change of Control Payment Date, the Company will, to the extent lawful:

 

    16

     

    

 

(i)                
accept for payment all Notes or portions thereof properly tendered pursuant to the Change of Control Offer;

 

(ii)             
deposit with the Paying Agent an amount equal to the Change of Control Payment in respect of all Notes or portions of Notes
properly tendered; and

 

(iii)           
deliver or cause to be delivered to the Trustee the Notes so accepted together with an Officers’ Certificate stating
the aggregate principal amount of Notes or portions of Notes being purchased by the Company.

 

(e)              
The Paying Agent will promptly send to each Holder of Notes properly tendered the Change of Control Payment for such Notes,
and the Trustee will promptly authenticate and send (or cause to be transferred by book entry) to each Holder a new Note of the
same series equal in principal amount to any unpurchased portion of the Notes surrendered, if any; provided that each new
Note will be equal to a minimum of $2,000 in principal amount or an integral multiple of $1,000 in excess thereof. The Company
will publicly announce the results of the Change of Control Offer on or as soon as practicable after the Change of Control Payment
Date.

 

(f)               
The Company shall not be required to make a Change of Control Offer upon a Change of Control Triggering Event if a third
party makes the Change of Control Offer in the manner, at the times and otherwise in compliance with the requirements set forth
in this Section 4.01 applicable to a Change of Control Offer made by the Company and purchases all Notes properly tendered and
not withdrawn under such Change of Control Offer. In addition, notwithstanding the provisions of this Section 4.01, if an Event
of Default exists under the Indenture (which is unrelated to the repurchase provisions of this Section 4.01), including Events
of Default arising with respect to other series of Securities, the Company shall not be required to repurchase the Notes.

 

Article V

COVENANTS

 

The covenants set forth in this Article
V shall be applicable to the Company in addition to the covenants in Article III of the Base Indenture, which shall in all respects
be applicable in respect of the Notes.

 

Section 5.01       
Limitation on Secured Indebtedness.

 

The Company shall not, and shall not permit
any Subsidiary to, incur, issue, assume, or guarantee any Indebtedness secured by a Lien on any Principal Property or on any Capital
Stock or Indebtedness of any Subsidiary of the Company owning any Principal Property, owned or acquired by the Company or any Subsidiary
of the Company, without effectively providing that the outstanding Notes and the Securities Guarantees (together with, if the Company
shall so determine, any other Indebtedness of the Company or such Subsidiary then existing or thereafter created which is not subordinate
to the Notes or the Securities Guarantees) shall be secured equally and ratably with (or prior to) such secured Indebtedness so
long as such secured Indebtedness shall be so secured. The foregoing restrictions do not apply to:

 

    17

     

    

 

(a)              
Permitted Encumbrances;

 

(b)              
Liens on any asset or property at the date of the Tenth Supplemental Indenture, provided that,

 

(i)                
such Liens shall not apply to any other property or asset of the Company or any Subsidiary of the Company (other than the
proceeds or products of the property or asset originally subject to such Liens), and

 

(ii)             
such Liens shall secure only those obligations which they secure on the date of the Tenth Supplemental Indenture and extensions,
renewals and replacements thereof that do not increase the outstanding principal amount thereof;

 

(c)              
Liens on any asset or property of any corporation or other Person at the time such corporation or other Person becomes a
Subsidiary of the Company or is merged with or into or consolidated with the Company or any Subsidiary of the Company, provided
that,

 

(i)                
such Liens were in existence prior to such corporation or other Person becoming an obligor under the Indenture, or becoming
a Subsidiary of the Company or such merger or consolidation and shall not apply to any other property or asset of the Company or
any Subsidiary of the Company (other than the proceeds or products of the property or asset originally subject to such Liens),
and

 

(ii)             
such Liens shall secure only those obligations which they secure on the date that such corporation or other Person becomes
an obligor under the Notes, Subsidiary of the Company or the date of such merger or consolidation, and

 

(iii)           
extensions, renewals and replacements thereof that do not increase the outstanding principal amount thereof;

 

(d)              
Liens securing Indebtedness of

 

(i)                
a Subsidiary of the Company to the Company or a Guarantor,

 

(ii)             
the Company to a Guarantor, or

 

(iii)           
the Company or a Guarantor to the Company or another Guarantor;

 

(e)              
Liens on any property or asset to secure the payment of all or any part of the Capital Lease Obligations or purchase price
of such property or asset upon the acquisition or lease of such property or asset by the Company or a Subsidiary of the Company
or to secure any Indebtedness incurred prior to, at the time of, or within 270 days after, the later of the date of acquisition
or lease of such property or asset and the date such property or asset is placed in service, for the purpose of financing all or
any part of the purchase price thereof or Capital Lease Obligations with respect thereto, or Liens to secure any Indebtedness incurred
for the purpose of financing the cost to the Company or a Subsidiary of the Company of construction, alteration or improvement
to such acquired property or asset;

 

    18

     

    

 

(f)               
Liens securing industrial revenue bonds, pollution control bonds or other similar tax-exempt bonds;

 

(g)              
any other Liens incidental to construction or maintenance of real property of the Company or any Subsidiary of the Company
which were not incurred in connection with borrowing money or obtaining advances or credits or the acquisition of property or assets
and in the aggregate do not materially impair the use of any property or assets or which are being contested in good faith by the
Company or such Subsidiary of the Company, as applicable; or

 

(h)              
any extension, renewal or replacement (including successive extensions, renewals or replacements), as a whole or in part,
of any of the Liens enumerated in clauses (a) through (g) above; provided, however, that

 

(i)                
such extension, renewal or replacement Liens are limited to all or part of the same property or asset that secured the Liens
extended, renewed, or replaced (plus improvements on such property or asset), and

 

(ii)             
the principal amount of Indebtedness secured by such Liens at such time is not increased.

 

Section 5.02       
Limitation on Sale and Leaseback Transactions.

 

The Company shall not directly or indirectly,
and shall not permit any Subsidiary directly or indirectly to, engage in the sale or transfer of any Principal Property to a Person
and the taking back by the Company or any of its Subsidiaries, as the case may be, of a lease of such Principal Property, whether
now owned or hereafter acquired, unless:

 

(a)              
such transaction was entered into prior to date of the Tenth Supplemental Indenture;

 

(b)              
such transaction was for the sale and leasing back to the Company by any one of its Subsidiaries;

 

(c)              
such transaction involves a lease for not more than three years;

 

(d)              
such transaction occurs within six months from the date of acquisition of the subject Principal Property or the date of
the completion of construction or commencement of full operations of such Principal Property, whichever is later;

 

(e)              
the Company or such Subsidiary under Sections 5.01(a) through (h) of this Tenth Supplemental Indenture may incur Attributable
Debt secured by a Lien with respect to such sale and leaseback transaction without equally and ratably securing the Notes; or

 

(f)               
the Company or a Subsidiary applies an amount equal to the net proceeds from the sale of such Principal Property to the
purchase of other property or assets used or useful in its business or to the retirement of Funded Debt within 270 days before
or after the effective date of any such sale and leaseback transaction; provided that, in lieu of applying such amount
to the retirement of Funded Debt, the Company or a Subsidiary may deliver any of the Notes in equal principal amount to the Trustee
for cancellation, such Notes to be credited to the amount of net proceeds from the sale of such property or assets at the cost
of acquisition of such Notes to the Company or such Subsidiary.

 

    19

     

    

 

Section 5.03       
Exceptions.

 

(a)              
Notwithstanding the restrictions set forth in Section 5.01 of this Tenth Supplemental Indenture, the Company and its Subsidiaries
will be permitted to incur, issue, assume or guarantee Indebtedness secured by a Lien on any Principal Property or on any Capital
Stock or Indebtedness of any Subsidiary of the Company owning any Principal Property which would otherwise be subject to the restrictions
set forth in Section 5.01 of this Tenth Supplemental Indenture without equally and ratably securing the Notes and the Securities
Guarantees, if as of the time of such incurrence, issuance, assumption or guarantee, after giving effect thereto, the aggregate
principal amount of all Indebtedness secured by Liens on any Principal Property or on any Capital Stock or Indebtedness of any
Subsidiary of the Company owning any Principal Property (not including Indebtedness secured by Liens permitted under clauses (a)
through (h) of Section 5.01), together (without duplication) with the aggregate amount of Attributable Debt outstanding in respect
of sale and leaseback transactions entered into pursuant Section 5.03(b), does not at the time exceed 15% of Consolidated Total
Assets of the Company calculated as of the time of such incurrence, issuance, assumption or guarantee of secured Indebtedness.

 

(b)              
Notwithstanding the restrictions set forth in Section 5.02 of this Tenth Supplemental Indenture, the Company and its Subsidiaries
may enter into any sale and leaseback transaction which would otherwise be prohibited by Section 5.02, if as of the time of entering
into such sale and leaseback transaction, after giving effect thereto, the aggregate amount of all Attributable Debt with respect
to sale and leaseback transactions (not including Attributable Debt with respect to sale and leaseback transactions permitted under
clauses (a) through (e) of Section 5.02), together (without duplication) with the aggregate principal amount of all Indebtedness
secured by Liens on any Principal Property or on any Capital Stock or Indebtedness of any Subsidiary of the Company owning any
Principal Property outstanding pursuant to Section 5.03(a), does not at the time exceed 15% of Consolidated Total Assets of the
Company calculated as of the time of entry into such sale and leaseback transaction.

 

Section 5.04       
Reports

 

(a)              
The Company will provide the Trustee with copies of its annual report and the information, documents and other reports which
the Company files with the SEC pursuant to Section 13 or Section 15(d) of the Exchange Act, within 15 days after the Company files
such annual report, documents and other reports with the SEC. In addition, the Company will comply with the other provisions of
Section 314(a) of the Trust Indenture Act.

 

(b)              
The requirement for the Company to provide such reports, documents and information pursuant to this Section 5.04 may be
satisfied by filing of such reports, documents and information via the SEC’s EDGAR system (or any successor electronic filing
system) or posting such reports, documents and information on its website, in each case within the time periods specified herein;
and

 

    20

     

    

 

(c)               Delivery
of such reports, information and documents pursuant to this Section 5.04 to the Trustee is for informational purposes only
and the Trustee’s receipt thereof will not constitute actual or constructive knowledge or notice of any information
contained therein or determinable from information contained therein, including the Company’s or any other
person’s compliance with any of the covenants under the Indenture (as to which the Trustee is entitled to rely
exclusively on Officers’ Certificates). The Trustee will not be obligated to monitor or confirm, on a continuing basis
or otherwise, the Company’s or any other person’s compliance with any of the covenants described herein and in
the Base Indenture or to determine whether such reports, information or documents have been filed via the SEC’s EDGAR
system (or any successor electronic filing system) or posted on any website or other online data system.

 

Article VI

AGREEMENT TO BE BOUND; SECURITIES GUARANTEE

 

Section 6.01       
Agreements to be Bound. Each Guarantor hereby becomes a party to the Indenture as a Guarantor and as such shall have
all of the rights and be subject to all of the obligations and agreements of a Guarantor under the Indenture. The Guarantors agree
to be bound by all of the provisions of the Indenture applicable to a Guarantor and to perform all of the obligations and agreements
of a Guarantor under the Indenture.

 

Section 6.02       
Guarantees. Each Guarantor hereby unconditionally guarantees, jointly and severally with each other Guarantor, to
each Holder of a Note authenticated and delivered by the Trustee and to the Trustee and its successors and assigns, the full and
punctual payment when due, whether at Maturity, by redemption, acceleration or otherwise, of the obligations of the Company under
the Notes and the other guaranteed obligations of the Company set forth in Article X of the Base Indenture. The terms of each Securities
Guarantee are more fully set forth in Article X of the Base Indenture and each Guarantor agrees to be bound by such terms.

 

Section 6.03       
Future Guarantors. The Company shall cause any Subsidiary of the Company that guarantees, directly or indirectly,
any Indebtedness of the Company (including any Indebtedness under any Credit Agreements) to at the same time, execute and deliver
to the Trustee a supplement to the Indenture pursuant to which such Subsidiary will guarantee payment of the Notes on the same
terms and conditions as those set forth in the Indenture. Thereafter, such Subsidiary shall be a Guarantor for all purposes of
the Indenture until such Securities Guarantee is released in accordance with the provisions of the Indenture.

 

Article VII

MISCELLANEOUS

 

Section 7.01       
Ratification of Indenture.

 

This Tenth Supplemental Indenture is executed
and shall be construed as an indenture supplement to the Base Indenture, and as supplemented and modified hereby, the Base Indenture
is in all respects ratified and confirmed, and the Base Indenture and this Tenth Supplemental Indenture shall be read, taken and
construed as one and the same instrument.

 

    21

     

    

 

Section 7.02       Trust Indenture Act Controls.

 

If any provision of this Tenth Supplemental
Indenture limits, qualifies or conflicts with another provision that is required or deemed to be included in this Tenth Supplemental
Indenture by the Trust Indenture Act, the required or deemed provision shall control.

 

Section 7.03       Notices.

 

All notices and other communications shall
be given as provided in the Base Indenture; provided that notices to a Guarantor shall be given to such Guarantor in care
of the Company; provided further that any notice or communication mailed to the Trustee shall be addressed as follows:

 

Wells Fargo Bank, N.A.

333 S. Grand Avenue, Fifth Floor, Suite
5A 

MAC E2064-05A

Los Angeles, CA 90071

Attention: Corporate Trust Services.

 

Section 7.04       Governing Law; Waiver
of Jury Trial.

 

THIS TENTH SUPPLEMENTAL INDENTURE AND THE
NOTES SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. EACH OF THE COMPANY, THE GUARANTORS
AND THE TRUSTEE HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT
TO TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE NOTES OR THE SECURITIES GUARANTEES
AND FOR ANY COUNTERCLAIM THEREIN.

 

Section 7.05       
Successors.

 

All agreements of the Company and the Guarantors
in this Tenth Supplemental Indenture and the Notes shall bind their successors. All agreements of the Trustee in this Tenth Supplemental
Indenture shall bind its successors.

 

Section 7.06       
Multiple Originals.

 

The parties may sign any number of copies
of this Tenth Supplemental Indenture. Each signed copy shall be an original, but all of them together represent the same agreement.
One signed copy is enough to prove this Tenth Supplemental Indenture.

 

Section 7.07       
Headings.

 

The headings of the Articles and Sections
of this Tenth Supplemental Indenture have been inserted for convenience of reference only, are not intended to be considered a
part hereof and shall not modify or restrict any of the terms or provisions hereof.

 

Section 7.08       
Trustee Not Responsible for Recitals

 

The recitals contained herein shall be taken
as statements of the Company and the Guarantors, and the Trustee does not assume any responsibility for their correctness. The
Trustee makes no representations as to the validity or sufficiency of this Tenth Supplemental Indenture, except that the Trustee
represents that it is duly authorized to execute and deliver this Tenth Supplemental Indenture and perform its obligations hereunder.

 

    22

     

    

 

Section 7.09       
Force Majeure

 

In no event shall the Trustee be responsible
or liable for any failure or delay in the performance of its obligations arising out of or caused by, directly or indirectly,
forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil
or military disturbances, nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities,
communications or computer (software and hardware) services; it being understood that the Trustee shall undertake commercially
reasonable efforts to resume performance as soon as practicable under the circumstances.

 

Section 7.10       Damages.

 

In no event shall the Trustee be liable
to any Person for special, punitive, indirect, consequential or incidental loss or damage of any kind whatsoever (including, but
not limited to, lost profits), even if the Trustee has been advised of the likelihood of such loss or damage and regardless of
the form of action.

 

Section 7.11       
U.S.A. PATRIOT Act

 

The parties acknowledge that in accordance
with Section 326 of the U.S.A. PATRIOT Act, the Trustee, like all financial institutions and in order to help fight the funding
of terrorism and money laundering, is required to obtain, verify, and record information that identifies each person or legal entity
that establishes a relationship or opens an account with the Trustee. The parties agree that they will provide the Trustee with
such information as it may request in order for the Trustee to satisfy the requirements of the U.S.A. PATRIOT Act.

 

[Signature page follows]

 

    23

     

    

 

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

  

	 	COMPANY:
	 	 
	 	KEURIG DR PEPPER INC.
	 	 
	 	By:	 /s/ Ozan Dokmecioglu
	 	 	Name:	Ozan Dokmecioglu
	 	 	Title:	Chief Financial Officer

 

Signature page to the Tenth Supplemental Indenture

 

     

     

    

 

 

	 	GUARANTORS:
	 	234DP AVIATION, LLC
	 	A & W CONCENTRATE COMPANY
	 	BEVERAGES DELAWARE INC.
	 	DP BEVERAGES INC.
	 	DPS AMERICAS BEVERAGES, LLC
	 	DPS BEVERAGES, INC.
	 	DPS HOLDINGS INC.
	 	DR PEPPER/SEVEN-UP BEVERAGE SALES COMPANY
	 	DR PEPPER/SEVEN UP MANUFACTURING COMPANY
	 	DR PEPPER/SEVEN UP, INC.
	 	MOTT’S DELAWARE LLC
	 	NANTUCKET ALLSERVE, LLC
	 	SNAPPLE BEVERAGE CORP.
	 	THE AMERICAN BOTTLING COMPANY

  

	 	By:	/s/ Ozan Dokmecioglu
	 	 	Name:	Ozan Dokmecioglu
	 	 	Title:	Chief Financial Officer
	 	 	 	 
	 	MOTT’S LLP
	 	BAI BRANDS LLC
	 	By its Sole Member, MOTT’S LLP

 

	 	By:	/s/ James L. Baldwin
	 	 	Name:	James L. Baldwin
	 	 	Title:	Chief Legal Officer, General Counsel & Secretary
	 	 	 	 
	 	SPLASH TRANSPORT, INC.

 

	 	By:	/s/ Dan Morrell
	 	 	Name:	Dan Morrell
	 	 	Title:	Vice President & Treasurer

 

Signature page to the Tenth Supplemental Indenture

 

     

     

    

 

	 	TRUSTEE:
	 	 	 	 
	 	WELLS FARGO
    BANK, N.A., as Trustee
	 	 	 	 
	 	By:	/s/ Patrick T. Giordano
	 	 	Name:	Patrick T. Giordano
	 	 	Title:	Vice President

 

Signature page to the Tenth Supplemental Indenture

 

     

     

    

 

SCHEDULE I

 

LIST OF GUARANTORS

 

	234DP Aviation, LLC
	A & W Concentrate Company
	Bai Brands LLC
	Beverages Delaware Inc.
	DP Beverages Inc.
	DPS Americas Beverages, LLC
	DPS Beverages, Inc.
	DPS Holdings Inc.
	Dr Pepper/Seven-Up Beverage Sales Company
	Dr Pepper/Seven Up Manufacturing Company
	Dr Pepper/Seven Up, Inc.
	Mott’s Delaware LLC
	Mott’s LLP
	Nantucket Allserve, LLC
	Snapple Beverage Corp.
	Splash Transport, Inc.
	The American Bottling Company

 

Schedule I -1

 

     

     

    

 

EXHIBIT A

 

FORM OF GLOBAL NOTE DUE 2030

 

THIS NOTE IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE
HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITORY OR A NOMINEE THEREOF. THIS NOTE MAY NOT BE EXCHANGED IN WHOLE
OR IN PART FOR A NOTE REGISTERED, AND NO TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON
OTHER THAN SUCH DEPOSITORY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE.

 

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE
OF THE DEPOSITORY TRUST COMPANY TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE
ISSUED IS REGISTERED IN THE NAME OF CEDE & CO., OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY
TRUST COMPANY AND ANY PAYMENT HEREON IS MADE TO CEDE & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE
BY OR TO ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

 

CUSIP NO. 49271V AJ9

ISIN NO. US49271VAJ98

 

KEURIG DR PEPPER INC.

 

3.200% SENIOR NOTE DUE 2030

 

$__________ No.: R-__

 

KEURIG DR PEPPER INC., a Delaware corporation
(herein called the “Company”), for value received, hereby promises to pay to CEDE & CO., or registered assigns,
the principal sum of ___________ DOLLARS or such other Principal Amount as shall be set forth on Schedule I hereto on May 1, 2030
and to pay interest thereon at the rate of 3.200% per annum from and including April 13, 2020, or from the most recent Interest
Payment Date to which interest has been paid or duly provided for, on May 1 and November 1 of each year, commencing November 1,
2020 (each an “Interest Payment Date”), until the principal hereof is paid or made available for payment.

 

     

     

    

 

The interest so payable, and punctually
paid or duly provided for, on any Interest Payment Date will, except as provided in the Indenture hereinafter referred to, be paid
to the Person in whose name this Note (or one or more Predecessor Notes) is registered at the close of business on the regular
record date for such interest, which will be the April 15 and October 15 (whether or not such date is a Business Day), as the case
may be (each, a “Regular Record Date”), immediately preceding each Interest Payment Date. Any such interest not so
punctually paid or duly provided for shall forthwith cease to be payable to the Holder on such Regular Record Date and either may
be paid to the Person in whose name this Note (or one or more Predecessor Notes) is registered at the close of business on a Special
Record Date for the payment of such defaulted interest to be fixed by the Trustee, notice whereof shall be given to the Holders
not less than ten days prior to such Special Record Date, or may be paid at any time in any other lawful manner, all as more fully
provided in the Indenture. Payment of the principal of and interest on this Note will be made at the office or agency of the Company
maintained for that purpose pursuant to the Indenture (initially the principal corporate trust office of the Trustee in Los Angeles,
California (the “Corporate Trust Office”)), in such coin or currency of the United States of America as at the time
of payment is legal tender for payment of public and private debts; provided, however, that payment of interest may be made
at the option of the Company (i) by check mailed to the address of the Person entitled thereto as such address shall appear in
the Security Register or (ii) by wire transfer to an account maintained by the Person entitled thereto as specified in the Security
Register. Payments of principal and interest at maturity will be made against presentation of this Note at the Corporate Trust
Office (or such other office as may be established pursuant to the Indenture), by check or wire transfer.

 

Reference is hereby made to the further
provisions of this Note set forth on the reverse side hereof, which further provisions shall for all purposes have the same effect
as though fully set forth at this place.

 

Unless the Certificate of Authentication
hereon has been executed by the Trustee or an authenticating agent under the Indenture referred to on the reverse hereof by the
manual signature of one of its authorized officers, this Note shall not be entitled to any benefit under the Indenture or be valid
or obligatory for any purpose.

 

[Signature Pages Follow]

 

     

     

    

 

IN WITNESS WHEREOF, the Company has caused
this Note to be signed in its name by the manual or facsimile signature of two of its Officers.

 

Date:
April 13, 2020

	 	 	 
	 	KEURIG DR PEPPER INC.
	 	 
	 	By: 	 
	 	 	Name: 
	 	 	Title: 
	 	 	 
	 	By: 	 
	 	 	Name: 
	 	 	Title: 

 

Signature Page to Global Note

 

     

     

    

 

Trustee’s Certificate of Authentication

 

This is one of the Securities of the series
designated therein referred to in the within-mentioned Indenture.

 

Dated: April 13, 2020

	 
	 	WELLS FARGO BANK, N.A.,
	 	 	as Trustee
	 	 
	 	By: 	 
	 	 	Authorized Officer

 

Signature Page to Global Note

 

     

     

    

 

(Reverse of Note)

 

KEURIG DR PEPPER INC.

 

3.200% SENIOR NOTE DUE 2030

 

 

1. This Note is one of a duly authorized
issue of securities of the Company designated as its 3.200% Senior Notes due 2030 (the “Notes”) limited in aggregate
principal amount to $__________ issued and to be issued under an indenture, dated as of December 15, 2009 (the “Base Indenture”),
between the Company and Wells Fargo Bank, N.A., as trustee (herein called the “Trustee,” which term includes any successor
Trustee under the Indenture), and the Tenth Supplemental Indenture, dated as of April 13, 2020 (the “Tenth Supplemental Indenture”
and, together with the Base Indenture, as so supplemented and as it may be further amended, supplemented or otherwise modified
from time to time, is herein referred to as the “Indenture”), between the Company, the guarantors named therein and
the Trustee. Reference is hereby made to the Indenture for a statement of the respective rights thereunder of the Company, the
Trustee and the Holders of the Notes, and the terms upon which the Notes are, and are to be, authenticated and delivered. The indebtedness
of the Company evidenced by the Notes, including the principal thereof and interest thereon (including post-default interest),
will constitute unsecured and unsubordinated indebtedness of the Company and will rank equally in right of payment with all of
the Company’s current and future unsecured and unsubordinated indebtedness.

 

2. The Notes are subject to redemption at
any time or from time to time prior to February 1, 2030, in whole or in part, at the Company’s option at a redemption price
equal to the greater of:

(i) 100% of the principal amount of the
Notes to be redeemed, and

 

(ii) the sum of the present values of the
Remaining Scheduled Payments of the Notes to be redeemed, discounted to the redemption date on a semi-annual basis (assuming a
360-day year of twelve 30-day months) at the Treasury Rate plus 40 basis points,

 

plus accrued and unpaid interest thereon to, but excluding,
the redemption date.

 

The Notes are subject to redemption at any time or from time
to time on or after February 1, 2030, in whole or in part, at the Company’s option at a redemption price equal to 100% of
the principal amount of the Notes to be redeemed, plus accrued and unpaid interest thereon to the redemption date.

 

     

     

    

 

“Remaining Scheduled Payments”
means, with respect to each Note to be redeemed, the remaining scheduled payments of the principal and interest of such Notes that
would be due if such Notes matured on February 1, 2030.

 

“Treasury Rate” means
the arithmetic mean (rounded to the nearest one-hundredth of one percent) of the yields displayed for each of the five most recent
days published in the most recent Statistical Release under the caption “Treasury constant maturities” for the maturity
(rounded to the nearest month) corresponding to the remaining life to maturity of the Notes to be redeemed (assuming such Notes
mature on the Par Call Date) as of the date of redemption. If no maturity exactly corresponds to such remaining life to maturity,
yields for the two published maturities most closely corresponding to such remaining life to maturity shall be calculated pursuant
to the immediately preceding sentence and the Treasury Rate shall be interpolated or extrapolated from such yields on a straight-line
basis, rounding in each of such relevant periods to the nearest month. The Treasury Rate will be calculated by the Company on the
third business day preceding the date the applicable notice of redemption is given and the Company will, prior to the date the
applicable notice of redemption is given, provide written notice executed by an officer of the Company of the Treasury Rate to
the Trustee, including the calculation thereof in reasonable detail. For the purpose of calculating the Treasury Rate, the most
recent Statistical Release published prior to the date of calculation of the Treasury Rate shall be used.

 

Any notice to Holders of Notes of a redemption
pursuant to this paragraph 2 hereof will include, among other things set forth in the Indenture, the redemption date, the redemption
price, the amount of accrued and unpaid interest to the redemption date, and conditions applicable to redemption and the name and
address of the Paying Agent.

3. Upon the occurrence of a Change of Control
Triggering Event, unless all Notes have been called for redemption pursuant to paragraph 2 of this Note, each Holder of the Notes
shall have the right to require the Company to repurchase all or any part (equal to an integral multiple of $1,000) of such Holder’s
Notes at an offer price in cash equal to 101% of the aggregate principal amount of such Notes plus accrued and unpaid interest
thereon, if any, to the date of repurchase. “Change of Control Triggering Event” means the occurrence of both a Change
of Control and a Rating Event, as such terms are defined in the Indenture. The Change of Control Offer will be made in accordance
with the terms specified in the Indenture.

 

4. The payment of the principal of and interest
on the Notes will be unconditionally guaranteed by the Guarantors, if any, on the terms set forth in the Indenture.

 

     

     

    

 

5. If an Event of Default with respect to
the Notes shall occur and be continuing, the principal of the Notes may be declared due and payable in the manner and with the
effect provided in the Indenture.

 

6. The Indenture permits, with certain exceptions
as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and the rights of
the Holders of Notes under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a majority
in aggregate principal amount of Notes at the time outstanding. The Indenture also contains provisions permitting the Holders of
a majority in aggregate principal amount of Notes at the time outstanding, on behalf of the Holders of all Notes, to waive compliance
by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any
such consent or waiver by the Holder of this Note shall be conclusive and binding upon such Holder and upon all future Holders
of this Note and of any Note issued upon the registration of transfer hereof or in exchange therefor or in lieu hereof, whether
or not notation of such consent or waiver is made upon this Note.

 

7. No reference herein to the Indenture
and no provisions of this Note or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional,
to pay the principal of and interest on this Note at the times, places and rate, and in the coin or currency, herein prescribed.

 

8. As provided in the Indenture and subject
to certain limitations therein set forth, the transfer of this Note may be registered on the Security Register of the Company,
upon surrender of this Note for registration of transfer at the Corporate Trust Office, duly endorsed by, or accompanied by a written
instrument of transfer in form satisfactory to the Company, and duly executed by the Holder hereof or such Holder’s attorney
duly authorized in writing, and thereupon one or more new Notes, of authorized denominations and for the same aggregate principal
amount, will be issued to the designated transferee or transferees.

 

9. The Notes are issuable only in fully
registered form, without coupons, in minimum denominations of $2,000 or any amount in excess thereof which is an integral multiple
of $1,000. As provided in the Indenture, and subject to certain limitations therein set forth, the Notes are exchangeable for a
like aggregate principal amount of Notes in authorized denominations, as requested by the Holder surrendering the same.

 

10. No service charge shall be made for
any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or other
governmental charge payable in connection therewith.

 

     

     

    

 

11. Prior to the due presentment of this
Note for registration of transfer or exchange, the Company, the Trustee and any agent of the Company or the Trustee may treat the
Person in whose name this Note is registered as the owner hereof for all purposes, whether or not this Note be overdue, and neither
the Company, the Trustee, nor any such agent shall be affected by notice to the contrary.

 

12. Interest on the Notes shall be computed
on the basis of a 360-day year composed of twelve 30-day months. Interest shall be payable to and excluding any Interest Payment
Date.

 

13. The Trustee, in its individual or any
other capacity, may make loans to, accept deposits from, and perform services for the Company or its Affiliates, and may otherwise
deal with the Company or its Affiliates, as if it were not the Trustee.

 

14. No past, present or future director,
officer, employee, incorporator or stockholder of the Company or any Guarantor, as such, shall have any liability for any obligations
of the Company or of the Guarantors under the Notes, the Indenture, the Securities Guarantees or for any claim based on, in respect
of, or by reason of, such obligations or their creation. Each Holder of Notes by accepting a Note waives and releases all such
liability. The waiver and release are part of the consideration for issuance of the Notes. The waiver and release may not be effective
to waive or release liabilities under the federal securities laws.

 

15. This Note shall not be valid until authenticated
by the manual signature of the Trustee or an authenticating agent.

 

16. Customary abbreviations may be used
in the name of a Holder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (=
joint tenants with right of survivorship and not as tenants in common), CUT (= Custodian), and U/G/M/A (= Uniform Gifts to Minors
Act).

 

17. Each Holder of this Note covenants and
agrees by such Holder’s acceptance thereof to comply with and be bound by the foregoing provisions.

 

18.
THIS NOTE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

19. All capitalized terms used in this Note
which are defined in the Indenture shall have the meanings assigned to them in the Indenture.

 

     

     

    

 

ASSIGNMENT FORM 

 

FOR VALUE RECEIVED, the undersigned hereby
sell(s), assign(s) and transfer(s) unto

 

PLEASE INSERT SOCIAL SECURITY OR

OTHER IDENTIFYING NUMBER OF ASSIGNEE

 

	 	 

PLEASE
PRINT OR TYPE NAME AND ADDRESS INCLUDING POSTAL ZIP CODE OF ASSIGNEE

______________________________________

______________________________________

______________________________________

the within Security and all rights thereunder,
hereby irrevocably constituting and appointing ___________________________________ attorney to transfer said Security on the books
of the Company, with full power of substitution in the premises.

Dated:
__________________________

Signature:
____________________________

 

NOTICE:
THE SIGNATURE TO THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME AS WRITTEN UPON THE FACE OF THE WITHIN INSTRUMENT IN EVERY PARTICULAR,
WITHOUT ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATEVER.

 

 

Signature Guarantee:

 

SIGNATURE GUARANTEE

 

Signatures must be guaranteed by an “eligible
guarantor institution” meeting the requirements of the Registrar, which requirements include membership or participation
in the Security Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program”
as may be determined by the Registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange
Act of 1934, as amended.

 

 

     

     

    

 

Schedule I

 

SCHEDULE OF TRANSFERS AND EXCHANGES

 

The following increases
or decreases in Principal Amount of this Global Security have been made:

 

	Date
                                         of

                                                                                Exchange
	 	Amount
                                         of Decrease

                                                                                in
                                         Principal Amount

                                                                                of
                                         this Global

                                                                                Security
	 	Amount
                                         of Increase

                                                                                in
                                         Principal Amount

                                                                                of
                                         this Global

                                                                                Security
	 	Principal
                                         Amount of

                                                                                this
                                         Global Security

                                                                                following
                                         such

                                                                                Decrease
                                         or Increase
	 	Signature
                                         of

                                                                                Authorized

                                                                                Signatory
                                         of

                                                                                Trustee
                                         or

                                                                                Custodian

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 

 

     

     

    

 

 

EXHIBIT B

 

 

FORM OF GLOBAL NOTE DUE 2050

 

THIS NOTE IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE
HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITORY OR A NOMINEE THEREOF. THIS NOTE MAY NOT BE EXCHANGED IN WHOLE
OR IN PART FOR A NOTE REGISTERED, AND NO TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON
OTHER THAN SUCH DEPOSITORY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE.

 

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE
OF THE DEPOSITORY TRUST COMPANY TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE
ISSUED IS REGISTERED IN THE NAME OF CEDE & CO., OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY
TRUST COMPANY AND ANY PAYMENT HEREON IS MADE TO CEDE & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE
BY OR TO ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

 

CUSIP NO. 49271V AK6

ISIN NO. US49271VAK61

 

KEURIG DR PEPPER INC.

 

3.800% SENIOR NOTE DUE 2050

 

$_________ No.: R-__

 

KEURIG DR PEPPER INC., a Delaware corporation
(herein called the “Company”), for value received, hereby promises to pay to CEDE & CO., or registered assigns,
the principal sum of ___________ DOLLARS or such other Principal Amount as shall be set forth on Schedule I hereto on May 1, 2050
and to pay interest thereon at the rate of 3.800% per annum from and including April 13, 2020, or from the most recent Interest
Payment Date to which interest has been paid or duly provided for, on May 1 and November 1 of each year, commencing November 1,
2020 (each an “Interest Payment Date”), until the principal hereof is paid or made available for payment.

 

     

     

    

 

The interest so payable, and punctually
paid or duly provided for, on any Interest Payment Date will, except as provided in the Indenture hereinafter referred to, be paid
to the Person in whose name this Note (or one or more Predecessor Notes) is registered at the close of business on the regular
record date for such interest, which will be the April 15 and October 15 (whether or not such date is a Business Day), as the case
may be (each, a “Regular Record Date”), immediately preceding each Interest Payment Date. Any such interest not so
punctually paid or duly provided for shall forthwith cease to be payable to the Holder on such Regular Record Date and either may
be paid to the Person in whose name this Note (or one or more Predecessor Notes) is registered at the close of business on a Special
Record Date for the payment of such defaulted interest to be fixed by the Trustee, notice whereof shall be given to the Holders
not less than ten days prior to such Special Record Date, or may be paid at any time in any other lawful manner, all as more fully
provided in the Indenture. Payment of the principal of and interest on this Note will be made at the office or agency of the Company
maintained for that purpose pursuant to the Indenture (initially the principal corporate trust office of the Trustee in Los Angeles,
California (the “Corporate Trust Office”)), in such coin or currency of the United States of America as at the time
of payment is legal tender for payment of public and private debts; provided, however, that payment of interest may be made
at the option of the Company (i) by check mailed to the address of the Person entitled thereto as such address shall appear in
the Security Register or (ii) by wire transfer to an account maintained by the Person entitled thereto as specified in the Security
Register. Payments of principal and interest at maturity will be made against presentation of this Note at the Corporate Trust
Office (or such other office as may be established pursuant to the Indenture), by check or wire transfer.

 

Reference is hereby made to the further
provisions of this Note set forth on the reverse side hereof, which further provisions shall for all purposes have the same effect
as though fully set forth at this place.

 

Unless the Certificate of Authentication
hereon has been executed by the Trustee or an authenticating agent under the Indenture referred to on the reverse hereof by the
manual signature of one of its authorized officers, this Note shall not be entitled to any benefit under the Indenture or be valid
or obligatory for any purpose.

 

[Signature Pages Follow]

 

     

     

    

 

IN WITNESS WHEREOF, the Company has caused
this Note to be signed in its name by the manual or facsimile signature of two of its Officers.

 

Date:
April 13, 2020

 

	 	KEURIG DR PEPPER INC.
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title: 

 

Signature Page to Global Note 

 

     

     

    

 

Trustee’s Certificate of Authentication

 

This is one of the Securities of the series
designated therein referred to in the within-mentioned Indenture.

 

Dated: April 13, 2020

 

	 	WELLS FARGO BANK, N.A.,
	 	 	as Trustee
	 	 
	 	By: 	 
	 	 	Authorized Officer

 

Signature Page to Global Note

 

     

     

    

 

(Reverse of Note)

 

KEURIG DR PEPPER INC.

 

3.800% SENIOR NOTE DUE 2050

 

 

1. This Note is one of a duly authorized
issue of securities of the Company designated as its 3.800% Senior Notes due 2050 (the “Notes”) limited in aggregate
principal amount to $__________issued and to be issued under an indenture, dated as of December 15, 2009 (the “Base Indenture”),
between the Company and Wells Fargo Bank, N.A., as trustee (herein called the “Trustee,” which term includes any successor
Trustee under the Indenture), and the Tenth Supplemental Indenture, dated as of April 13, 2020 (the “Tenth Supplemental Indenture”
and, together with the Base Indenture, as so supplemented and as it may be further amended, supplemented or otherwise modified
from time to time, is herein referred to as the “Indenture”), between the Company, the guarantors named therein and
the Trustee. Reference is hereby made to the Indenture for a statement of the respective rights thereunder of the Company, the
Trustee and the Holders of the Notes, and the terms upon which the Notes are, and are to be, authenticated and delivered. The indebtedness
of the Company evidenced by the Notes, including the principal thereof and interest thereon (including post-default interest),
will constitute unsecured and unsubordinated indebtedness of the Company and will rank equally in right of payment with all of
the Company’s current and future unsecured and unsubordinated indebtedness.

 

2. The Notes are subject to redemption at
any time or from time to time prior to November 1, 2049, in whole or in part, at the Company’s option at a redemption price
equal to the greater of:

(i) 100% of the principal amount of the
Notes to be redeemed, and

 

(ii) the sum of the present values of the
Remaining Scheduled Payments of the Notes to be redeemed, discounted to the redemption date on a semi-annual basis (assuming a
360-day year of twelve 30-day months) at the Treasury Rate plus 40 basis points,

 

plus accrued and unpaid interest thereon to, but excluding,
the redemption date.

 

The Notes are subject to redemption at any time or from time
to time on or after November 1, 2049, in whole or in part, at the Company’s option at a redemption price equal to 100% of
the principal amount of the Notes to be redeemed, plus accrued and unpaid interest thereon to the redemption date.

 

     

     

    

 

“Remaining Scheduled Payments”
means, with respect to each Note to be redeemed, the remaining scheduled payments of the principal and interest of such Notes that
would be due if such Notes matured on November 1, 2049.

 

“Treasury Rate” means
the arithmetic mean (rounded to the nearest one-hundredth of one percent) of the yields displayed for each of the five most recent
days published in the most recent Statistical Release under the caption “Treasury constant maturities” for the maturity
(rounded to the nearest month) corresponding to the remaining life to maturity of the Notes to be redeemed (assuming such Notes
mature on the Par Call Date) as of the date of redemption. If no maturity exactly corresponds to such remaining life to maturity,
yields for the two published maturities most closely corresponding to such remaining life to maturity shall be calculated pursuant
to the immediately preceding sentence and the Treasury Rate shall be interpolated or extrapolated from such yields on a straight-line
basis, rounding in each of such relevant periods to the nearest month. The Treasury Rate will be calculated by the Company on the
third business day preceding the date the applicable notice of redemption is given and the Company will, prior to the date the
applicable notice of redemption is given, provide written notice executed by an officer of the Company of the Treasury Rate to
the Trustee, including the calculation thereof in reasonable detail. For the purpose of calculating the Treasury Rate, the most
recent Statistical Release published prior to the date of calculation of the Treasury Rate shall be used.

 

Any notice to Holders of Notes of a redemption
pursuant to this paragraph 2 hereof will include, among other things set forth in the Indenture, the redemption date, the redemption
price, the amount of accrued and unpaid interest to the redemption date, and conditions applicable to redemption and the name and
address of the Paying Agent.

3. Upon the occurrence of a Change of Control
Triggering Event, unless all Notes have been called for redemption pursuant to paragraph 2 of this Note, each Holder of the Notes
shall have the right to require the Company to repurchase all or any part (equal to an integral multiple of $1,000) of such Holder’s
Notes at an offer price in cash equal to 101% of the aggregate principal amount of such Notes plus accrued and unpaid interest
thereon, if any, to the date of repurchase. “Change of Control Triggering Event” means the occurrence of both a Change
of Control and a Rating Event, as such terms are defined in the Indenture. The Change of Control Offer will be made in accordance
with the terms specified in the Indenture.

 

4. The payment of the principal of and interest
on the Notes will be unconditionally guaranteed by the Guarantors, if any, on the terms set forth in the Indenture.

 

5. If an Event of Default with respect to
the Notes shall occur and be continuing, the principal of the Notes may be declared due and payable in the manner and with the
effect provided in the Indenture.

 

     

     

    

 

6. The Indenture permits, with certain exceptions
as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and the rights of
the Holders of Notes under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a majority
in aggregate principal amount of Notes at the time outstanding. The Indenture also contains provisions permitting the Holders of
a majority in aggregate principal amount of Notes at the time outstanding, on behalf of the Holders of all Notes, to waive compliance
by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any
such consent or waiver by the Holder of this Note shall be conclusive and binding upon such Holder and upon all future Holders
of this Note and of any Note issued upon the registration of transfer hereof or in exchange therefor or in lieu hereof, whether
or not notation of such consent or waiver is made upon this Note.

 

7. No reference herein to the Indenture
and no provisions of this Note or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional,
to pay the principal of and interest on this Note at the times, places and rate, and in the coin or currency, herein prescribed.

 

8. As provided in the Indenture and subject
to certain limitations therein set forth, the transfer of this Note may be registered on the Security Register of the Company,
upon surrender of this Note for registration of transfer at the Corporate Trust Office, duly endorsed by, or accompanied by a written
instrument of transfer in form satisfactory to the Company, and duly executed by the Holder hereof or such Holder’s attorney
duly authorized in writing, and thereupon one or more new Notes, of authorized denominations and for the same aggregate principal
amount, will be issued to the designated transferee or transferees.

 

9. The Notes are issuable only in fully
registered form, without coupons, in minimum denominations of $2,000 or any amount in excess thereof which is an integral multiple
of $1,000. As provided in the Indenture, and subject to certain limitations therein set forth, the Notes are exchangeable for a
like aggregate principal amount of Notes in authorized denominations, as requested by the Holder surrendering the same.

 

10. No service charge shall be made for
any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or other
governmental charge payable in connection therewith.

 

     

     

    

 

11. Prior to the due presentment of this
Note for registration of transfer or exchange, the Company, the Trustee and any agent of the Company or the Trustee may treat the
Person in whose name this Note is registered as the owner hereof for all purposes, whether or not this Note be overdue, and neither
the Company, the Trustee, nor any such agent shall be affected by notice to the contrary.

 

12. Interest on the Notes shall be computed
on the basis of a 360-day year composed of twelve 30-day months. Interest shall be payable to and excluding any Interest Payment
Date.

 

13. The Trustee, in its individual or any
other capacity, may make loans to, accept deposits from, and perform services for the Company or its Affiliates, and may otherwise
deal with the Company or its Affiliates, as if it were not the Trustee.

 

14. No past, present or future director,
officer, employee, incorporator or stockholder of the Company or any Guarantor, as such, shall have any liability for any obligations
of the Company or of the Guarantors under the Notes, the Indenture, the Securities Guarantees or for any claim based on, in respect
of, or by reason of, such obligations or their creation. Each Holder of Notes by accepting a Note waives and releases all such
liability. The waiver and release are part of the consideration for issuance of the Notes. The waiver and release may not be effective
to waive or release liabilities under the federal securities laws.

 

15. This Note shall not be valid until authenticated
by the manual signature of the Trustee or an authenticating agent.

 

16. Customary abbreviations may be used
in the name of a Holder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (=
joint tenants with right of survivorship and not as tenants in common), CUT (= Custodian), and U/G/M/A (= Uniform Gifts to Minors
Act).

 

17. Each Holder of this Note covenants and
agrees by such Holder’s acceptance thereof to comply with and be bound by the foregoing provisions.

 

18.
THIS NOTE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

 

19. All capitalized terms used in this Note
which are defined in the Indenture shall have the meanings assigned to them in the Indenture.

 

     

     

    

 

ASSIGNMENT FORM 

 

FOR VALUE RECEIVED, the undersigned hereby
sell(s), assign(s) and transfer(s) unto

 

PLEASE INSERT SOCIAL SECURITY OR

OTHER IDENTIFYING NUMBER OF ASSIGNEE

 

	 	 

PLEASE
PRINT OR TYPE NAME AND ADDRESS INCLUDING POSTAL ZIP CODE OF ASSIGNEE

______________________________________

 

______________________________________

 

______________________________________

 

the within Security and all rights thereunder,
hereby irrevocably constituting and appointing ___________________________________ attorney to transfer said Security on the books
of the Company, with full power of substitution in the premises.

Dated:
__________________________

 

Signature:
____________________________

 

	NOTICE:	 	THE SIGNATURE TO THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME AS WRITTEN UPON THE FACE OF THE WITHIN INSTRUMENT IN EVERY PARTICULAR, WITHOUT ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATEVER.

 

Signature Guarantee:

 

SIGNATURE GUARANTEE

 

Signatures must be guaranteed by an “eligible
guarantor institution” meeting the requirements of the Registrar, which requirements include membership or participation
in the Security Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program”
as may be determined by the Registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange
Act of 1934, as amended.

 

 

     

     

    

 

Schedule I

 

SCHEDULE OF TRANSFERS AND EXCHANGES

 

The following increases
or decreases in Principal Amount of this Global Security have been made:

 

	Date of

 Exchange	 	Amount of Decrease

 in Principal Amount

 of this Global 

Security	 	Amount of Increase

 in Principal Amount 

of this Global 

Security	 	Principal Amount of 

this Global Security 

following such 

Decrease or Increase	 	Signature of 

Authorized 

Signatory of 

Trustee or 

Custodian

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