Document:

EX-4.6

 Exhibit 4.06 

JUNIOR-PRIORITY LIEN PARI PASSU INTERCREDITOR AGREEMENT 

Among 
 REGIONS BANK, 

as Collateral Agent, 
 REGIONS
BANK, 
 in its capacity as trustee under the 2023 Notes Indenture, 

REGIONS BANK, 
 in its capacity as
trustee under the 2024 Notes Indenture, and 
 each additional Authorized Representative from time to time party hereto 

Dated as of June 22, 2018 

 JUNIOR-PRIORITY LIEN PARI PASSU INTERCREDITOR AGREEMENT (as amended or
supplemented from time to time, this “Agreement”) dated as of June 22, 2018, among REGIONS BANK, as collateral agent for the Junior-Priority Secured Parties (in such capacity and together with its successors in such capacity,
the “Collateral Agent”), REGIONS BANK, in its capacity as trustee under the 2023 Notes Indenture (in such capacity and together with its successors in such capacity, the “2023 Notes Authorized Representative”),
REGIONS BANK, in its capacity as trustee under the 2024 Notes Indenture (in such capacity and together with its successors in such capacity, the “2024 Notes Authorized Representative”), and each additional Authorized Representative
from time to time party hereto for the Additional Junior-Priority Secured Parties of the Series with respect to which it is acting in such capacity (in such capacity and together with its successors in such capacity, the “Additional
Authorized Representative”). 
 In consideration of the mutual agreements herein contained and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the Collateral Agent, the 2023 Notes Authorized Representative (for itself and on behalf of the 2023 Notes Secured Parties), the 2024 Notes Authorized Representative (for
itself and on behalf of the 2024 Notes Secured Parties) and each Additional Authorized Representative (for itself and on behalf of the Additional Junior-Priority Secured Parties of the applicable Series) agree as follows: 

ARTICLE I 
 Definitions

 SECTION 1.01.    Construction; Certain Defined Terms. (a) The definitions of terms herein shall apply
equally to the singular and plural forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include”, “includes” and
“including” shall be deemed to be followed by the phrase “without limitation”. The word “will” shall be construed to have the same meaning and effect as the word “shall”. Unless the context requires otherwise,
(i) any definition of or reference to any agreement, instrument, other document, statute or regulation herein shall be construed as referring to such agreement, instrument, other document, statute or regulation as from time to time amended,
supplemented or otherwise modified, (ii) any reference herein to any Person shall be construed to include such Person’s successors and assigns, but shall not be deemed to include the subsidiaries of such Person unless express reference is
made to such subsidiaries, (iii) the words “herein”, “hereof and “hereunder”, and words of similar import, shall be construed to refer to this Agreement in its entirety and not to any particular provision hereof,
(iv) all references herein to Articles, Sections and Annexes shall be construed to refer to Articles, Sections and Annexes of this Agreement, (v) unless otherwise expressly qualified herein, the words “asset” and
“property” shall be construed to have the same meaning and effect and to refer to any and all tangible and intangible assets and properties, including cash, securities, accounts and contract rights and (vi) the term “or” is
not exclusive. This Agreement is the Pari Passu Intercreditor Agreement referred to in the 2023 Notes Indenture and the 2024 Notes Indenture. 

  
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 (b)    It is the intention of the Junior-Priority Secured Parties of each
Series that the holders of Obligations of such Series (and not the Junior-Priority Secured Parties of any other Series) bear the risk of (i) any determination by a court of competent jurisdiction that (x) any of the Obligations of such
Series are unenforceable under applicable law or are subordinated to any other obligations (other than another Series of Obligations), (y) any of the Obligations of such Series do not have an enforceable security interest in any of the Collateral
securing any other Series of Obligations and/or (z) any intervening security interest exists securing any other obligations (other than another Series of Obligations) on a basis ranking prior to the security interest of such Series of
Obligations but junior to the security interest of any other Series of Obligations and (ii) the existence of any Collateral for any other Series of Obligations that is not Shared Collateral (any such condition referred to in the foregoing
clause (i) or (ii) with respect to any Series of Obligations, an “Impairment” of such Series). In the event of any Impairment with respect to any Series of Obligations, the results of such Impairment shall be borne solely by
the holders of such Series of Obligations, and the rights of the holders of such Series of Obligations (including the right to receive distributions in respect of such Series of Obligations pursuant to Section 2.01) set forth herein shall be
modified to the extent necessary so that the effects of such Impairment are borne solely by the holders of the Series of such Obligations subject to such Impairment. Additionally, in the event the Obligations of any Series are modified pursuant to
applicable law (including pursuant to Section 1129 of the Bankruptcy Code), any reference to such Obligations or the Junior-Priority Secured Documents governing such Obligations shall refer to such Obligations or such documents as so modified.

 (c)    Capitalized terms used and not otherwise defined herein shall have the meanings set forth in the 2023 Notes
Indenture. As used in this Agreement, the following terms have the meanings specified below: 
 “2023 Notes Authorized
Representative” has the meaning assigned to such term in the introductory paragraph to this Agreement. 
 “2023 Notes
Indenture” means that certain Indenture, dated as of June 22, 2018, among Parent, the Company, the subsidiaries of the Company party thereto, the Collateral Agent and Regions Bank, as trustee, governing the Company’s
Junior-Priority Secured Notes due 2023, as amended or supplemented from time to time. 
 “2023 Notes Obligations” has the
meaning assigned to such term in the Junior-Priority Collateral Agreement. 
 “2023 Notes Secured Parties” means the
holders of the 2023 Notes Obligations and the 2023 Notes Authorized Representative. 
 “2024 Notes Authorized
Representative” has the meaning assigned to such term in the introductory paragraph to this Agreement. 
 “2024 Notes
Indenture” means that certain Indenture, dated as of June 22, 2018, among Parent, the Company, the subsidiaries of the Company party thereto, the Collateral Agent and Regions Bank, as trustee, governing the Company’s 8.125%
Junior-Priority Secured Notes due 2024, as amended or supplemented from time to time. 

  
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 “2024 Notes Obligations” has the meaning assigned to such term in the
Junior-Priority Collateral Agreement. 
 “2024 Notes Secured Parties” means the holders of the 2024 Notes Obligations and
the 2024 Notes Authorized Representative. 
 “Additional Agreement” has the meaning given the term “Pari Passu
Agreement” in the Junior-Priority Collateral Agreement. 
 “Additional Authorized Representative” has the meaning
assigned to such term in the introductory paragraph to this Agreement. 
 “Additional Junior-Priority Secured Parties”
means the holders of any Additional Obligations and any Additional Authorized Representative. 
 “Additional Obligations”
has the meaning given the term “Pari Passu Debt Obligations” in the Junior-Priority Collateral Agreement. 

“Agreement” has the meaning assigned to such term in the introductory paragraph of this Agreement. 

“Amended and Restated ABL Intercreditor Agreement” means the Amended and Restated ABL Intercreditor Agreement, dated as of
June 22, 2018, among Parent, the Company, the subsidiaries of the Company from time to time party thereto, the Collateral Agent, JPMorgan Chase Bank, N.A., in its capacity as the ABL Agent (as defined therein), Credit Suisse AG, in its capacity
as the Senior-Priority Collateral Agent (as defined therein), Credit Suisse AG, in its capacity as the Senior-Priority Non-ABL Loan Agent (as defined therein), Regions Bank, in its capacity as the 2021 Secured
Notes Trustee (as defined therein), Regions Bank, in its capacity as the 2023 Secured Notes Trustee (as defined therein), Regions Bank, in its capacity as the trustee under the 2023 Notes Indenture, Regions Bank, in its capacity as the trustee under
the 2024 Notes Indenture, and each Additional Agent (as defined therein) from time to time party thereto, as amended, supplemented, modified or restated from time to time. 

“Applicable Authorized Representative” means, with respect to any Shared Collateral, (i) until the earlier of
(x) such time as the 2023 Notes Obligations are no longer secured by the Shared Collateral and (y) the Non-Controlling Authorized Representative Enforcement Date, the 2023 Notes Authorized
Representative, and (ii) from and after the earlier of (x) such time as the 2023 Notes Obligations are no longer secured by the Shared Collateral and (y) the Non-Controlling Authorized
Representative Enforcement Date, the Major Non-Controlling Authorized Representative. 

“Authorized Representative” means (i) in the case of the 2023 Notes Obligations or the 2023 Notes Secured Parties, the
2023 Notes Authorized Representative, (ii) in the case of the 2024 Notes Obligations or the 2024 Notes Secured Parties, the 2024 Notes Authorized Representative and (iii) in the case of any Series of Additional Obligations or Additional
Junior-Priority Secured Parties that become subject to this Agreement after the date hereof, the Authorized Representative named for such Series in the applicable Joinder Agreement. 

  
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 “Bankruptcy Case” has the meaning assigned to such term in Section 2.05(b).

 “Bankruptcy Code” means Title 11 of the United States Code, as amended. 

“Bankruptcy Law” means the Bankruptcy Code and any similar Federal, state or foreign law for the relief of debtors. 

“Collateral” means all assets and properties subject to Liens created pursuant to any Security Document to secure any of the
Obligations. 
 “Collateral Agent” has the meaning assigned to such term in the introductory paragraph of this Agreement.

 “Company” means CHS/Community Health Systems, Inc., a Delaware corporation. 

“Controlling Secured Parties” means, with respect to any Shared Collateral, the Series of Junior-Priority Secured Parties
whose Authorized Representative is the Applicable Authorized Representative for such Shared Collateral. 
 “DIP Financing”
has the meaning assigned to such term in Section 2.05(b). 
 “DIP Financing Liens” has the meaning assigned to such
term in Section 2.05(b). 
 “DIP Lenders” has the meaning assigned to such term in Section 2.05(b). 

“Discharge” means, with respect to any Shared Collateral and any Series of Obligations, the date on which such Series of
Obligations is no longer secured by such Shared Collateral. The term “Discharged” has a corresponding meaning. 

“Event of Default” has the meaning set forth in the Junior-Priority Collateral Agreement. 

“Impairment” has the meaning assigned to such term in Section 1.01(b). 

“Insolvency or Liquidation Proceeding” means: 

(1) any case commenced by or against the Company or any other Pledgor under any Bankruptcy Law, any other proceeding for the
reorganization, recapitalization or adjustment or marshalling of the assets or liabilities of the Company or any other Pledgor, any receivership or assignment for the benefit of creditors relating to the Company or any other Pledgor or any similar
case or proceeding relative to the Company or any other Pledgor or its creditors, as such, in each case whether or not voluntary; 

(2)    any liquidation, dissolution, marshalling of assets or liabilities or other winding up of or
relating to the Company or any other Pledgor, in each case whether or not voluntary and whether or not involving bankruptcy or insolvency; or 

  
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 (3)    any other proceeding of any type or nature in which
substantially all claims of creditors of the Company or any other Pledgor are determined and any payment or distribution is or may be made on account of such claims. 

“Intervening Creditor” has the meaning assigned to such term in Section 2.01(a). 

“Joinder Agreement” means the documents required to be delivered by the Company to the Collateral Agent pursuant to
Section 6.09(c) of the Junior-Priority Collateral Agreement in order to create an additional Series of Additional Obligations, together with a joinder to this Agreement executed and delivered by the applicable Authorized Representative pursuant
to which such Authorized Representative agrees to be bound by the terms and conditions hereof and provides the notice information contemplated by Section 5.01. 

“Junior-Priority Collateral Agreement” means the Junior-Priority Collateral Agreement, dated as of June 22, 2018, as
further amended, restated, supplemented or otherwise modified or replaced from time to time, by and among the Pledgors from time to time party thereto and the Collateral Agent from time to time party thereto. 

“Junior-Priority Obligations” means the 2023 Notes Obligations, the 2024 Notes Obligations and the Additional Obligations.

 “Junior-Priority Secured Documents” means (i) the 2023 Notes Indenture and the “Notes Collateral
Documents” as such term is defined in the 2023 Notes Indenture, (ii) the 2024 Notes Indenture and the “Notes Collateral Documents” as such term is defined in the 2024 Notes Indenture and (iii) each Additional Agreement. 

“Junior-Priority Secured Parties” means (i) the 2023 Notes Secured Parties, (ii) the 2024 Notes Secured Parties and
(iii) the Additional Junior-Priority Secured Parties. 
 “Lien” means any mortgage, deed of trust, pledge, security
interest, hypothecation, assignment, lien (statutory or other) or similar encumbrance (including any agreement to give any of the foregoing, any conditional sale or other title retention agreement or any lease in the nature thereof). 

“Major Non-Controlling Authorized Representative” means, with respect to any Shared
Collateral and at any time, the Authorized Representative of (i) if at such time the 2024 Notes Obligations constitute the largest outstanding principal amount of any then outstanding Series of Junior-Priority Obligations with respect to such
Shared Collateral (other than the 2023 Notes Obligations), the 2024 Notes Obligations or (ii) if at such time the 2024 Notes Obligations do not constitute the largest outstanding principal amount of any then outstanding Series of
Junior-Priority Obligations with respect to such Shared Collateral (other than the 2023 Notes Obligations), the Series of Additional Obligations that at such time constitutes the largest outstanding principal amount of any then outstanding Series of
Additional Obligations with respect to such Shared Collateral. 
 “New York UCC” means the Uniform Commercial Code as from
time to time in effect in the State of New York. 

  
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 “Non-Controlling Authorized
Representative” means, at any time with respect to any Shared Collateral, any Authorized Representative that is not the Applicable Authorized Representative at such time with respect to such Shared Collateral. 

“Non-Controlling Authorized Representative Enforcement Date” means, with respect to
any Non-Controlling Authorized Representative, the date which is 90 days (throughout which 90-day period such Non-Controlling
Authorized Representative was the Major Non-Controlling Authorized Representative) after the occurrence of both (i) an Event of Default (under and as defined in the Subject Agreement under which such Non-Controlling Authorized Representative is the Authorized Representative) and (ii) the Collateral Agent’s and each other Authorized Representative’s receipt of written notice from such Non-Controlling Authorized Representative certifying that (x) such Non-Controlling Authorized Representative is the Major
Non-Controlling Authorized Representative and that an Event of Default (under and as defined in the Subject Agreement under which such Non-Controlling Authorized
Representative is the Authorized Representative) has occurred and is continuing and (y) the Obligations of the Series with respect to which such Non-Controlling Authorized Representative is the Authorized
Representative are currently due and payable in full (whether as a result of acceleration thereof or otherwise) in accordance with the terms of the applicable Subject Agreement; provided that the
Non-Controlling Authorized Representative Enforcement Date shall be stayed and shall not occur and shall be deemed not to have occurred with respect to any Shared Collateral (1) at any time the Collateral
Agent or the then Applicable Authorized Representative has commenced and is diligently pursuing any enforcement action with respect to such Shared Collateral or (2) at any time the Pledgor which has granted a Lien in such Shared Collateral is
then a debtor under or with respect to (or otherwise subject to) any Insolvency or Liquidation Proceeding. 
 “Non-Controlling Secured Parties” means, with respect to any Shared Collateral, the Junior-Priority Secured Parties which are not Controlling Secured Parties with respect to such Shared Collateral. 

“Obligations” has the meaning assigned to such term in the Junior-Priority Collateral Agreement. 

“Other Intercreditor Agreement” has the meaning assigned to such term in Section 2.01(a). 

“Parent” means Community Health Systems, Inc., a Delaware corporation. 

“Person” means any natural person, corporation, business trust, joint venture, association, company, limited liability
company, partnership, Governmental Authority or other entity. 
 “Pledgors” means Parent, the Company and each subsidiary
of the Company which has granted a Lien pursuant to any Security Document to secure any Series of Obligations. 
 “Possessory
Collateral” means any Shared Collateral in the possession of the Collateral Agent (or its agents or bailees), to the extent that possession thereof perfects a Lien thereon under the Uniform Commercial Code of any jurisdiction. Possessory
Collateral includes, without limitation, any Certificated Securities, Promissory Notes, Instruments, and Chattel 

  
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Paper, in each case, delivered to or in the possession of the Collateral Agent under the terms of the Security Documents. All capitalized terms used in this definition and not defined elsewhere
in this Agreement have the meanings assigned to them in the New York UCC. 
 “Proceeds” has the meaning assigned to such
term in Section 2.01(a) hereof. 
 “Refinance” means, in respect of any indebtedness, to refinance, extend, renew,
defease, amend, increase, modify, supplement, restructure, refund, replace or repay, or to issue other indebtedness or enter alternative financing arrangements, in exchange or replacement for such indebtedness (in whole or in part), including by
adding or replacing lenders, creditors, agents, borrowers and/or guarantors, or, after the original instrument giving rise to such indebtedness has been terminated, by entering into any credit agreement, indenture or other agreement.
“Refinanced” and “Refinancing” have correlative meanings. 
 “Related Parties” means,
with respect to any specified person, such person’s Affiliates and the respective directors, trustees, officers, employees, agents and advisors of such person and such person’s Affiliates. 

“Representative” means, with respect to any Person, such Person’s designated agent. 

“Security Documents” means the Junior-Priority Collateral Agreement and each other agreement entered into in favor of the
Collateral Agent for purposes of securing any Series of Obligations. 
 “Senior-Junior Intercreditor Agreement” means the
Senior-Junior Lien Intercreditor Agreement, dated as of June 22, 2018, among the Company, Parent, the subsidiaries of the Company from time to time party thereto, Credit Suisse, AG, in its capacity as the Initial Senior-Priority Collateral
Agent (as defined therein), Regions Bank, in its capacity as the Initial Junior-Priority Collateral Agent (as defined therein) and each Additional Agent (as defined therein) from time to time party thereto, as amended, supplemented, modified or
restated from time to time. 
 “Series” means (a) with respect to the Junior-Priority Secured Parties, each of
(i) the 2023 Notes Secured Parties (in their capacities as such), (ii) the 2024 Notes Secured Parties (in their capacities as such) and (iii) the other Additional Junior-Priority Secured Parties that become subject to this Agreement after
the date hereof that are represented by a common Authorized Representative (in their capacities as such) and (b) with respect to any Obligations, each of (i) the 2023 Notes Obligations, (ii) the 2024 Notes Obligations and
(iii) the Additional Obligations incurred pursuant to any Additional Agreement, which, pursuant to any Joinder Agreement, are to be represented hereunder by a common Authorized Representative (in its capacity as such for such Additional
Obligations). 
 “Shared Collateral” means, at any time, Collateral in which the holders of two or more Series of
Obligations (or their respective Authorized Representatives) hold a valid and perfected security interest at such time. If more than two Series of Obligations are outstanding at any time and the holders of less than all Series of Obligations hold a
valid and perfected security interest in any Collateral at such time, then such Collateral shall constitute Shared Collateral for 

  
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those Series of Obligations that hold a valid security interest in such Collateral at such time and shall not constitute Shared Collateral for any Series which does not have a valid and perfected
security interest in such Collateral at such time. 
 “Subject Agreement” means either (i) the 2024 Notes Indenture or
(ii) an Additional Agreement, as applicable. 
 ARTICLE II 

Priorities and Agreements with Respect to Shared Collateral 

SECTION 2.01.    Priority of Claims. 

(a)    Anything contained herein or in any of the Junior-Priority Secured Documents (other than the Amended and Restated
ABL Intercreditor Agreement and the Senior-Junior Intercreditor Agreement) to the contrary notwithstanding (but subject to Section 1.01(b), Section 5.11(b) and Section 5.14), if an Event of Default has occurred and is continuing, and
the Collateral Agent or any Junior-Priority Secured Party is taking action to enforce rights in respect of any Shared Collateral, any distribution is made in respect of any Shared Collateral in any Bankruptcy Case of any Pledgor or any
Junior-Priority Secured Party receives any payment pursuant to the Amended and Restated ABL Intercreditor Agreement, the Senior-Junior Intercreditor Agreement or any other intercreditor agreement (other than this Agreement) (each, an “Other
Intercreditor Agreement”) with respect to any Shared Collateral, the proceeds of any sale, collection or other liquidation of any such Shared Collateral by any Junior-Priority Secured Party or received by the Collateral Agent or any
Junior-Priority Secured Party pursuant to any Other Intercreditor Agreement and proceeds of any such distribution (subject, in the case of any such distribution, to the sentence immediately following) to which the Obligations are entitled (all
proceeds of any sale, collection or other liquidation of any Shared Collateral and all proceeds of any such distribution being collectively referred to as “Proceeds”), shall be applied (i) FIRST, to the payment of all amounts
owing to the Collateral Agent and any other Representative (in their capacity as such) pursuant to the terms of any Junior-Priority Secured Document and (ii) SECOND, subject to Section 1.01(b), to the payment in full of the Obligations of
each Series on a ratable basis in accordance with the terms of the applicable Junior-Priority Secured Documents. Notwithstanding the foregoing, with respect to any item of Shared Collateral for which a third party (other than a Junior-Priority
Secured Party) has a lien or security interest that is junior in priority to the security interest of any Series of Obligations but senior (as determined by appropriate legal proceedings in the case of any dispute) to the security interest of any
other Series of Obligations (such third party an “Intervening Creditor”), the value of such Shared Collateral or Proceeds which are allocated to such Intervening Creditor shall be deducted on a ratable basis solely from the Shared
Collateral or Proceeds to be distributed in respect of the Series of Obligations with respect to which such Impairment exists. 

(b)    It is acknowledged that the Obligations of any Series may, subject to the limitations set forth in the then extant
Junior-Priority Secured Documents, be increased, extended, renewed, replaced, restated, supplemented, restructured, repaid, refunded, Refinanced or otherwise amended or modified from time to time, all without affecting the priorities set forth in
Section 2.01(a) or the provisions of this Agreement defining the relative rights of the Junior-Priority Secured Parties of any Series. 

  
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 (c)    Notwithstanding the date, time, method, manner or order of grant,
attachment or perfection of any Liens securing any Series of Obligations granted on the Shared Collateral and notwithstanding any provision of the Uniform Commercial Code of any jurisdiction, or any other applicable law or the Junior-Priority
Secured Documents or any defect or deficiencies in the Liens securing the Obligations of any Series or any other circumstance whatsoever (but, in each case, subject to Section 1.01(b)), each Junior-Priority Secured Party hereby agrees that the
Liens securing each Series of Obligations on any Shared Collateral shall be of equal priority. 
 SECTION
2.02.    Actions with Respect to Shared Collateral; Prohibition on Contesting Liens. (a) With respect to any Shared Collateral, (i) only the Collateral Agent shall act or refrain from acting with respect to the
Shared Collateral (including with respect to any Other Intercreditor Agreement), and then only on the instructions of the Applicable Authorized Representative, (ii) the Collateral Agent shall not follow any instructions with respect to such
Shared Collateral (including with respect to any Other Intercreditor Agreement) from any Non-Controlling Authorized Representative or any other Junior-Priority Secured Party (other than the Applicable
Authorized Representative) and (iii) no Non-Controlling Authorized Representative or other Junior-Priority Secured Party (other than the Applicable Authorized Representative) shall, or shall instruct the
Collateral Agent to, commence any judicial or nonjudicial foreclosure proceedings with respect to, seek to have a trustee, receiver, liquidator or similar official appointed for or over, attempt any action to take possession of, exercise any right,
remedy or power with respect to, or otherwise take any action to enforce its security interests in or realize upon, or take any other action available to it in respect of, any Shared Collateral (including with respect to any Other Intercreditor
Agreement), whether under any Security Document, applicable law or otherwise, it being agreed that only the Collateral Agent, acting on the instructions of the Applicable Authorized Representative and in accordance with the applicable Security
Documents, shall be entitled to take any such actions or exercise any such remedies with respect to Shared Collateral. Notwithstanding the equal priority of the Liens, the Collateral Agent (acting on the instructions of the Applicable Authorized
Representative) may deal with the Shared Collateral as if such Applicable Authorized Representative had a senior Lien on such Collateral. No Non-Controlling Authorized Representative or Non-Controlling Secured Party will contest, protest or object to any foreclosure proceeding or action brought by the Collateral Agent, Applicable Authorized Representative or Controlling Secured Party or any other
exercise by the Collateral Agent, Applicable Authorized Representative or Controlling Secured Party of any rights and remedies relating to the Shared Collateral, or to cause the Collateral Agent to do so. The foregoing shall not be construed to
limit the rights and priorities of any Junior-Priority Secured Party, Collateral Agent or Authorized Representative with respect to any Collateral not constituting Shared Collateral. 

(b)    Each of the Authorized Representatives agrees that it will not accept any Lien on any Collateral for the benefit of
any Series of Obligations (other than funds deposited for the discharge or defeasance of any Additional Agreement) other than pursuant to the Security Documents, and by executing this Agreement (or a Joinder Agreement), each Authorized
Representative and the Series of Junior-Priority Secured Parties for which it is acting hereunder agree to be bound by the provisions of this Agreement and the other Security Documents applicable to it. 

  
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 (c)    Each of the Junior-Priority Secured Parties agrees that it will not
(and hereby waives any right to) contest or support any other Person in contesting, in any proceeding (including any Insolvency or Liquidation Proceeding), the perfection, priority, validity or enforceability of a Lien held by or on behalf of any of
the Junior-Priority Secured Parties in all or any part of the Collateral, or the provisions of this Agreement; provided that nothing in this Agreement shall be construed to prevent or impair the rights of any of the Collateral Agent or any
Authorized Representative to enforce this Agreement. 
 SECTION 2.03.    No Interference; Payment Over.
(a) Each Junior-Priority Secured Party agrees that (i) it will not challenge or question in any proceeding the validity or enforceability of any Obligations of any Series or any Security Document or the validity, attachment, perfection or
priority of any Lien under any Security Document or the validity or enforceability of the priorities, rights or duties established by or other provisions of this Agreement; (ii) it will not take or cause to be taken any action the purpose or
intent of which is, or could be, to interfere with, hinder or delay, in any manner, whether by judicial proceedings or otherwise, any sale, transfer or other disposition of the Shared Collateral by the Collateral Agent, (iii) except as provided
in Section 2.02, it shall have no right to (A) direct the Collateral Agent or any other Junior-Priority Secured Party to exercise any right, remedy or power with respect to any Shared Collateral (including pursuant to any Other
Intercreditor Agreement) or (B) consent to the exercise by the Collateral Agent or any other Junior-Priority Secured Party of any right, remedy or power with respect to any Shared Collateral, (iv) it will not institute any suit or assert
in any Insolvency or Liquidation Proceeding or any other proceeding any claim against the Collateral Agent or any other Junior-Priority Secured Party seeking damages from or other relief by way of specific performance, instructions or otherwise with
respect to any Shared Collateral, and none of the Collateral Agent, any Applicable Authorized Representative or any other Junior-Priority Secured Party shall be liable for any action taken or omitted to be taken by the Collateral Agent, such
Applicable Authorized Representative or other Junior-Priority Secured Party with respect to any Shared Collateral in accordance with the provisions of this Agreement, (v) it will not seek, and hereby waives any right, to have any Shared
Collateral or any part thereof marshaled upon any foreclosure or other disposition of such Shared Collateral and (vi) it will not attempt, directly or indirectly, whether by judicial proceedings or otherwise, to challenge the enforceability of
any provision of this Agreement; provided that nothing in this Agreement shall be construed to prevent or impair the rights of any of the Collateral Agent or any other Junior-Priority Secured Party to enforce this Agreement. 

(b)    Each Junior-Priority Secured Party hereby agrees that if it shall obtain possession of any Shared Collateral or
shall realize any proceeds or payment in respect of any such Shared Collateral, pursuant to any Security Document or by the exercise of any rights available to it under applicable law or in any Insolvency or Liquidation Proceeding or through any
other exercise of remedies (including pursuant to any Other Intercreditor Agreement), at any time prior to the Discharge of each of the Obligations, then it shall hold such Shared Collateral, proceeds or payment in trust for the other
Junior-Priority Secured Parties and promptly transfer such Shared Collateral, proceeds or payment, as the case may be, to the Collateral Agent, to be distributed in accordance with the provisions of Section 2.01 hereof. 

  
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 SECTION 2.04.    Automatic Release of Liens; Amendments to Security
Documents. (a) If, at any time the Collateral Agent forecloses upon or otherwise exercises remedies against any Shared Collateral, then (whether or not any Insolvency or Liquidation Proceeding is pending at the time) the Liens in favor of
the Collateral Agent for the benefit of each Series of Junior-Priority Secured Parties upon such Shared Collateral will automatically be released and discharged; provided that any proceeds of any Shared Collateral realized therefrom shall be
applied pursuant to Section 2.01 hereof. 
 (b)    Each Junior-Priority Secured Party agrees that the Collateral
Agent may enter into any amendment (and, upon request by the Collateral Agent, each Authorized Representative shall sign a consent to such amendment) to any Security Document (including to release Liens securing any Series of Obligations), so long
as the Collateral Agent receives a certificate of the Company stating that such amendment is permitted by the terms of each then extant Junior-Priority Secured Document. Additionally, each Junior-Priority Secured Party agrees that the Collateral
Agent may enter into any amendment (and, upon request by the Collateral Agent, each Authorized Representative shall sign a consent to such amendment) to any Security Document solely as such Security Document relates to a particular Series of
Obligations (including to release Liens securing any Series of Obligations) so long as (x) such amendment is in accordance with the Junior-Priority Secured Document pursuant to which such Series of Obligations was incurred and (y) such
amendment does not adversely affect the Junior-Priority Secured Parties of any other Series. 
 (c)    The Collateral
Agent and each Authorized Representative agrees to execute and deliver (at the sole cost and expense of the Pledgors) all such authorizations and other instruments as shall reasonably be requested by the Applicable Authorized Representative to
evidence and confirm any release of Shared Collateral or amendment to any Security Document provided for in this Section. 
 SECTION
2.05.    Certain Agreements with Respect to Insolvency or Liquidation Proceedings. (a) This Agreement shall continue in full force and effect notwithstanding the commencement of any proceeding under any Bankruptcy Law
by or against the Company or any other Pledgor. 
 (b)    If any Pledgor shall become subject to a case (a
“Bankruptcy Case”) under the Bankruptcy Code and shall, as debtor(s)-in-possession, move for approval of financing (“DIP Financing”) to
be provided by one or more lenders (the “DIP Lenders”) under Section 364 of the Bankruptcy Code or the use of cash collateral under Section 363 of the Bankruptcy Code, each Junior-Priority Secured Party agrees that it will
raise no objection to any such financing or to the Liens on the Shared Collateral securing the same (“DIP Financing Liens”) or to any use of cash collateral that constitutes Shared Collateral, unless the Applicable Authorized
Representative shall then oppose or object to such DIP Financing or such DIP Financing Liens or use of cash collateral (and (i) to the extent that such DIP Financing Liens are senior to the Liens on any such Shared Collateral for the benefit of
the Controlling Secured Parties, each Non-Controlling Secured Party will subordinate its Liens with respect to such Shared Collateral on the same terms as the Liens of the Controlling Secured Parties (other
than any Liens of any Junior-Priority Secured Parties constituting DIP Financing Liens) are subordinated thereto, and (ii) to the extent that such DIP Financing Liens rank pari passu with the Liens on any such Shared Collateral

  
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granted to secure the Obligations of the Controlling Secured Parties, each Non-Controlling Secured Party will confirm the priorities with respect to such
Shared Collateral as set forth herein), in each case so long as (A) the Junior-Priority Secured Parties of each Series retain the benefit of their Liens on all such Shared Collateral pledged to the DIP Lenders, including proceeds thereof
arising after the commencement of such proceeding, with the same priority vis-à-vis all the other Junior-Priority Secured Parties (other than any Liens of the
Junior-Priority Secured Parties constituting DIP Financing Liens) as existed prior to the commencement of the Bankruptcy Case, (B) the Junior-Priority Secured Parties of each Series are granted Liens on any additional collateral pledged to any
Junior-Priority Secured Parties as adequate protection or otherwise in connection with such DIP Financing or use of cash collateral, with the same priority
vis-à-vis the Junior-Priority Secured Parties as set forth in this Agreement, (C) if any amount of such DIP Financing or cash collateral is applied to repay
any of the Obligations, such amount is applied pursuant to Section 2.01 of this Agreement, and (D) if any Junior-Priority Secured Parties are granted adequate protection, including in the form of periodic payments, in connection with such
DIP Financing or use of cash collateral, the proceeds of such adequate protection is applied pursuant to Section 2.01 of this Agreement; provided that the Junior-Priority Secured Parties of each Series shall have a right to object to the
grant of a Lien to secure the DIP Financing over any Collateral subject to Liens in favor of the Junior-Priority Secured Parties of such Series or its Authorized Representative that shall not constitute Shared Collateral; and provided
further, that the Junior-Priority Secured Parties receiving adequate protection shall not object to any other Junior-Priority Secured Party receiving adequate protection comparable to any adequate protection granted to such Junior-Priority
Secured Parties in connection with a DIP Financing or use of cash collateral. 
 (c)    Each Junior-Priority Secured
Party agrees that, in an Insolvency or Liquidation Proceeding or otherwise, none of them will oppose any sale or disposition of any Shared Collateral of any Pledgor that is supported by the Controlling Secured Parties, or the Applicable Authorized
Representative, and will be deemed to have consented under Section 363 of the Bankruptcy Code (and otherwise) to any such sale or disposition and to have released its Liens on the assets so sold or disposed; provided that any proceeds of
any Shared Collateral realized therefrom shall be applied pursuant to Section 2.01 hereof. 
 SECTION
2.06.    Reinstatement. In the event that any of the Obligations shall be paid in full and such payment or any part thereof shall subsequently, for whatever reason (including an order or judgment for disgorgement of a
preference under Title 11 of the United States Code, or any similar law, or the settlement of any claim in respect thereof), be required to be returned or repaid, the terms and conditions of this Article II shall be fully applicable thereto until
all such Obligations shall again have been paid in full in cash. 
 SECTION 2.07.    Insurance. As between the
Junior-Priority Secured Parties, the Collateral Agent, acting at the direction of the Applicable Authorized Representative, shall have the right to adjust or settle any insurance policy or claim covering or constituting Shared Collateral in the
event of any loss thereunder and to approve any award granted in any condemnation or similar proceeding affecting the Shared Collateral. 

SECTION 2.08.    Refinancings. The Obligations of any Series may be Refinanced, in whole or in part, in each case,
without notice to, or the consent (except to the 

  
 12 

 
extent a consent is otherwise required to permit the refinancing transaction under any Junior-Priority Secured Document) of any Junior-Priority Secured Party of any other Series, all without
affecting the priorities provided for herein or the other provisions hereof; provided that the Authorized Representative of the holders of any such Refinancing indebtedness shall have executed a Joinder Agreement on behalf of the holders of
such Refinancing indebtedness. 
 SECTION 2.09.    Possessory Collateral Agent as Gratuitous Bailee for
Perfection. (a) The Collateral Agent agrees to hold any Shared Collateral constituting Possessory Collateral that is part of the Collateral in its possession or control (or in the possession or control of its agents or bailees) as
gratuitous bailee for the benefit of each other Junior-Priority Secured Party and any assignee solely for the purpose of perfecting the Lien granted in such Possessory Collateral, if any, pursuant to the applicable Security Documents, in each case,
subject to the terms and conditions of this Section 2.09. Pending delivery to the Collateral Agent, each other Authorized Representative agrees to hold any Shared Collateral constituting Possessory Collateral, from time to time in its
possession, as gratuitous bailee for the benefit of each other Junior-Priority Secured Party and any assignee, solely for the purpose of perfecting the Lien granted in such Possessory Collateral, if any, pursuant to the applicable Security
Documents, in each case, subject to the terms and conditions of this Section 2.09. 
 (b)    The duties or
responsibilities of the Collateral Agent and each other Authorized Representative under this Section 2.09 shall be limited solely to holding any Shared Collateral constituting Possessory Collateral as gratuitous bailee for the benefit of each
other Junior-Priority Secured Party for purposes of perfecting the Lien held by such Junior-Priority Secured Parties therein. 
 ARTICLE III

 SECTION 3.01.    Existence and Amounts of Liens and Obligations. Whenever the Collateral Agent or any
Authorized Representative shall be required, in connection with the exercise of its rights or the performance of its obligations hereunder, to determine the existence or amount of any Obligations of any Series, or the Shared Collateral subject to
any Lien securing the Obligations of any Series, it may request that such information be furnished to it in writing by each other Authorized Representative and shall be entitled to make such determination on the basis of the information so
furnished; provided, however, that if an Authorized Representative shall fail or refuse reasonably promptly to provide the requested information, the requesting Collateral Agent or Authorized Representative shall be entitled to make
any such determination by such method as it may, in the exercise of its good faith judgment, determine, including by reliance upon a certificate of the Company. The Collateral Agent and each Authorized Representative may rely conclusively, and shall
be fully protected in so relying, on any determination made by it in accordance with the provisions of the preceding sentence (or as otherwise directed by a court of competent jurisdiction) and shall have no liability to any Pledgor, any
Junior-Priority Secured Party or any other person as a result of such determination. 

  
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 ARTICLE IV 

The Collateral Agent 

SECTION 4.01.    Appointment and Authority. (a) Each of the Junior-Priority Secured Parties hereby irrevocably
appoints Regions Bank to act on its behalf as the Collateral Agent hereunder and under each of the other Security Documents and authorizes the Collateral Agent to take such actions on its behalf and to exercise such powers as are delegated to the
Collateral Agent by the terms hereof or thereof, including for purposes of acquiring, holding and enforcing any and all Liens on Collateral granted by any Pledgor to secure any of the Obligations, together with such powers and discretion as are
reasonably incidental thereto. In this connection, the Collateral Agent and any co-agents, sub-agents and
attorneys-in-fact appointed by the Collateral Agent pursuant to Section 4.05 for purposes of holding or enforcing any Lien on the Collateral (or any portion
thereof) granted under any of the Security Documents, or for exercising any rights and remedies thereunder at the direction of the Applicable Authorized Representative, shall be entitled to the benefits of all provisions of this Article IV and
Section 12.1(f) of 2023 Notes Indenture and 2024 Notes Indenture and the equivalent provision of any Additional Agreement (as though such co-agents, sub-agents and attorneys-in-fact were the “Collateral Agent” under the Security Documents) as if set forth in full herein with respect thereto. 

(b) Each Non-Controlling Secured Party acknowledges and agrees that the Collateral Agent shall be
entitled, for the benefit of the Junior-Priority Secured Parties, to sell, transfer or otherwise dispose of or deal with any Shared Collateral as provided herein and in the Security Documents, without regard to any rights to which such Non-Controlling Secured Party would otherwise be entitled as a result of its Junior-Priority Obligations. Without limiting the foregoing, each Non-Controlling Secured Party
agrees that none of the Collateral Agent, the Applicable Authorized Representative or any other Junior-Priority Secured Party shall have any duty or obligation first to marshal or realize upon any type of Shared Collateral (or any other Collateral
securing any of the Obligations), or to sell, dispose of or otherwise liquidate all or any portion of such Shared Collateral (or any other Collateral securing any Obligations), in any manner that would maximize the return to the Non-Controlling Secured Parties, notwithstanding that the order and timing of any such realization, sale, disposition or liquidation may affect the amount of proceeds actually received by the Non-Controlling Secured Parties from such realization, sale, disposition or liquidation. Each of the Junior-Priority Secured Parties waives any claim it may now or hereafter have against the Collateral Agent or the
Authorized Representative of any other Series of Obligations or any other Junior-Priority Secured Party of any other Series arising out of (i) any actions which the Collateral Agent, any Authorized Representative or any Junior-Priority Secured
Party takes or omits to take (including, actions with respect to the creation, perfection or continuation of Liens on any Collateral, actions with respect to the foreclosure upon, sale, release or depreciation of, or failure to realize upon, any of
the Collateral and actions with respect to the collection of any claim for all or any part of the Obligations from any account debtor, guarantor or any other party) in accordance with the Security Documents or any other agreement related thereto or
to the collection of the Obligations or the valuation, use, protection or release of any security for the Obligations, (ii) any election by any Applicable Authorized Representative or any holders of Obligations, in any proceeding instituted
under the Bankruptcy Code, of the application of Section 1111(b) of the Bankruptcy 

  
 14 

 
Code or (iii) subject to Section 2.05, any borrowing by, or grant of a security interest or administrative expense priority under Section 364 of the Bankruptcy Code by, Parent or
any of its subsidiaries, as debtor-in-possession. 
 SECTION
4.02.    Rights as a Junior-Priority Secured Party. The Person serving as the Collateral Agent hereunder shall have the same rights and powers in its capacity as a Junior-Priority Secured Party under any Series of
Obligations that it holds as any other Junior-Priority Secured Party of such Series and may exercise the same as though it were not the Collateral Agent and the term “Junior-Priority Secured Party” or “ Junior-Priority Secured
Parties” or (as applicable) “Additional Junior-Priority Secured Party” or “Additional Junior-Priority Secured Parties” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person
serving as the Collateral Agent hereunder in its individual capacity. Such Person and its Affiliates may accept deposits from, lend money to, act as the financial advisor or in any other advisory capacity for and generally engage in any kind of
business with Parent, the Company or any subsidiary or other Affiliate thereof as if such Person were not the Collateral Agent hereunder and without any duty to account therefor to any other Junior-Priority Secured Party. 

SECTION 4.03.    Exculpatory Provisions. The Collateral Agent shall not have any duties or obligations except those
expressly set forth herein and in the other Security Documents. Without limiting the generality of the foregoing, the Collateral Agent: 

(i)    shall not be subject to any fiduciary or other implied duties, regardless of whether an Event of
Default has occurred and is continuing; 
 (ii)    shall not have any duty to take any discretionary
action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby or by the other Security Documents that the Collateral Agent is required to exercise; provided that the Collateral Agent shall
not be required to take any action that, in its opinion or the opinion of its counsel, may expose the Collateral Agent to liability or that is contrary to any Security Document or applicable law; 

(iii)    shall not, except as expressly set forth herein and in the other Security Documents, have any duty
to disclose, and shall not be liable for the failure to disclose, any information relating to the Company or any of its Affiliates that is communicated to or obtained by the Person serving as the Collateral Agent or any of its Affiliates in any
capacity; 
 (iv)    shall not be liable for any action taken or not taken by it (i) with the
consent or at the request of the Applicable Authorized Representative or (ii) in the absence of its own gross negligence or willful misconduct or (iii) in reliance on a certificate of an authorized officer of Parent or the Company stating
that such action is permitted by the terms of this Agreement. The Collateral Agent shall be deemed not to have knowledge of any Event of Default under any Series of Obligations unless and until written notice describing such Event of Default is
given to the Collateral Agent by the Authorized Representative of such Obligations or Parent or the Company; and 

  
 15 

 (v)    shall not be responsible for or have any duty to
ascertain or inquire into (i) any statement, warranty or representation made in or in connection with this Agreement or any other Security Document, (ii) the contents of any certificate, report or other document delivered hereunder or
thereunder or in connection herewith or therewith, (iii) the performance or observance of any of the covenants, agreements or other terms or conditions set forth herein or therein or the occurrence of any Event of Default, (iv) the
validity, enforceability, effectiveness or genuineness of this Agreement, any other Security Document or any other agreement, instrument or document, or the creation, perfection or priority of any Lien purported to be created by the Security
Documents, (v) the value or the sufficiency of any Collateral for any Series of Obligations, or (vi) the satisfaction of any condition set forth in any Junior-Priority Secured Document, other than to confirm receipt of items expressly
required to be delivered to the Collateral Agent. 
 SECTION 4.04.    Reliance by Collateral Agent. The
Collateral Agent shall be entitled to rely upon, and shall not incur any liability for relying upon, any notice, request, certificate, consent, statement, instrument, document or other writing (including any electronic message, Internet or intranet
website posting or other distribution) believed by it to be genuine and to have been signed, sent or otherwise authenticated by the proper Person. The Collateral Agent also may rely upon any statement made to it orally or by telephone and believed
by it to have been made by the proper Person, and shall not incur any liability for relying thereon. The Collateral Agent may consult with legal counsel (who may be counsel for the Company), independent accountants and other experts selected by it,
and shall not be liable for any action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts. 

SECTION 4.05.    Delegation of Duties. The Collateral Agent may perform any and all of its duties and exercise its
rights and powers hereunder or under any other Security Document by or through any one or more sub-agents appointed by the Collateral Agent. The Collateral Agent and any such
sub-agent may perform any and all of its duties and exercise its rights and powers by or through their respective Affiliates. The exculpatory provisions of this Article shall apply to any such sub-agent and to the Affiliates of the Collateral Agent and any such sub-agent. 

SECTION 4.06.    Resignation of Collateral Agent. The Collateral Agent may at any time give notice of its
resignation as Collateral Agent under this Agreement and the other Security Documents to each Authorized Representative and the Company. Upon receipt of any such notice of resignation, the Applicable Authorized Representative shall have the right,
in consultation with the Company, to appoint a successor, which shall be a bank with an office in the United States, or an Affiliate of any such bank with an office in the United States. If no such successor shall have been so appointed by the
Applicable Authorized Representative and shall have accepted such appointment within 30 days after the retiring Collateral Agent gives notice of its resignation, then the retiring Collateral Agent may, on behalf of the Junior-Priority Secured
Parties, appoint a successor Collateral Agent meeting the qualifications set forth above; provided that if the Collateral Agent shall notify the Company and each Authorized Representative that no qualifying Person has accepted such
appointment, then such resignation shall nonetheless become effective in accordance with such notice and (a) the retiring Collateral Agent shall be 

  
 16 

 
discharged from its duties and obligations hereunder and under the other Security Documents (except that in the case of any collateral security held by the Collateral Agent on behalf of the
Junior-Priority Secured Parties under any of the Security Documents, the retiring Collateral Agent shall continue to hold such collateral security solely for purposes of maintaining the perfection of the Liens of the Junior-Priority Secured Parties
therein until such time as a successor Collateral Agent is appointed but with no obligation to take any further action at the request of the Applicable Authorized Representative or any other Junior-Priority Secured Parties) and (b) all
payments, communications and determinations provided to be made by, to or through the Collateral Agent shall instead be made by or to each Authorized Representative directly, until such time as the Applicable Authorized Representative appoints a
successor Collateral Agent as provided for above in this Section. Upon the acceptance of a successor’s appointment as Collateral Agent hereunder and under the Security Documents, such successor shall succeed to and become vested with all of the
rights, powers, privileges and duties of the retiring (or retired) Collateral Agent, and the retiring Collateral Agent shall be discharged from all of its duties and obligations hereunder or under the other Security Documents (if not already
discharged therefrom as provided above in this Section). After the retiring Collateral Agent’s resignation hereunder, the provisions of this Article and Section 12.1(f) of 2023 Notes Indenture and 2024 Notes Indenture and the equivalent
provision of any Additional Agreement shall continue in effect for the benefit of such retiring Collateral Agent, its sub-agents and their respective Related Parties in respect of any actions taken or omitted
to be taken by any of them while the retiring Collateral Agent was acting as Collateral Agent. Upon any notice of resignation of the Collateral Agent hereunder and under the other Security Documents, the Company agrees to use commercially reasonable
efforts to transfer (and maintain the validity and priority of) the Liens in favor of the retiring Collateral Agent under the Security Documents to the successor Collateral Agent. 

SECTION 4.07.    Non-Reliance on Collateral Agent and Other Junior-Priority
Secured Parties. Each Junior-Priority Secured Party acknowledges that it has, independently and without reliance upon the Collateral Agent, any other Authorized Representative or any other Junior-Priority Secured Party or any of their Affiliates
and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement and the other Junior-Priority Secured Documents. Each Junior-Priority Secured Party also acknowledges
that it will, independently and without reliance upon the Collateral Agent, any Authorized Representative or any other Junior-Priority Secured Party or any of their Affiliates and based on such documents and information as it shall from time to time
deem appropriate, continue to make its own decisions in taking or not taking action under or based upon this Agreement, any other Junior-Priority Secured Document or any related agreement or any document furnished hereunder or thereunder. 

SECTION 4.08.    Collateral Matters. Each of the Junior-Priority Secured Parties irrevocably authorizes the
Collateral Agent, at its option and in its discretion, 
 (a)    to release any Lien on any property
granted to or held by the Collateral Agent under any Security Document in accordance with Section 2.04 or upon receipt of a written request from Parent or the Company stating that the release of such Lien is permitted by the terms of each then
extant Junior-Priority Secured Document; and 

  
 17 

 (b)    to release any Pledgor from its obligations under the
Security Documents upon receipt of a written request from Parent or the Company stating that such release is permitted by the terms of each then extant Junior-Priority Secured Document. 

ARTICLE V 
 Miscellaneous

 SECTION 5.01.    Notices. All notices and other communications provided for herein shall be in writing and
shall be delivered by hand or overnight courier service, mailed by certified or registered mail or sent by telecopy, as follows: 

(a)    if to the Collateral Agent, the 2023 Notes Authorized Representative or the 2024 Notes Authorized
Representative, to it at Regions Bank, 1180 West Peachtree Street, Suite 1200, Atlanta, GA 30309, Attention: Corporate Trust Services; 

(b)    if to any other Additional Authorized Representative, to it at the address set forth in the
applicable Joinder Agreement; or 
 (c)    if to any of the Pledgors, to it at CHS/Community Health
Systems, Inc. 4000 Meridian Boulevard, Franklin, TN 37067-6325, Attention: General Counsel Facsimile No.: (615) 373-9704. 

Any party hereto may change its address or telecopy number for notices and other communications hereunder by notice to the other parties hereto. All notices
and other communications given to any party hereto in accordance with the provisions of this Agreement shall be deemed to have been given on the date of receipt (if a Business Day) and on the next Business Day thereafter (in all other cases) if
delivered by hand or overnight courier service or sent by telecopy or on the date five Business Days after dispatch by certified or registered mail if mailed, in each case delivered, sent or mailed (properly addressed) to such party as provided in
this Section 5.01 or in accordance with the latest unrevoked direction from such party given in accordance with this Section 5.01. As agreed to in writing among the Collateral Agent and each Authorized Representative from time to time,
notices and other communications may also be delivered by e-mail to the e-mail address of a representative of the applicable person provided from time to time by such
person. 
 SECTION 5.02.    Waivers; Amendment; Joinder Agreements. (a) No failure or delay on the part of
any party hereto in exercising any right or power hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such a right or power,
preclude any other or further exercise thereof or the exercise of any other right or power. The rights and remedies of the parties hereto are cumulative and are not exclusive of any rights or remedies that they would otherwise have. No waiver of any
provision of this Agreement or consent to any departure by any party therefrom shall in any event be effective unless the same shall be permitted by paragraph (b) of this Section, and then such waiver or consent shall be effective only in the
specific instance and for the purpose for which given. No notice or demand on any party hereto in any case shall entitle such party to any other or further notice or demand in similar or other circumstances. 

  
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 (b)    Neither this Agreement nor any provision hereof may be terminated,
waived, amended or modified (other than the provision of security for one or more additional Series as provided for herein) except pursuant to an agreement or agreements in writing entered into by each Authorized Representative and the Collateral
Agent. 
 (c)    Notwithstanding the foregoing, without the consent of any Junior-Priority Secured Party, any Authorized
Representative may become a party hereto by execution and delivery of a Joinder Agreement in accordance with Section 6.09(c) of the Junior-Priority Collateral Agreement and upon such execution and delivery and the delivery by the Company of the
documents required by said Section 6.09(c), such Authorized Representative and the Additional Junior-Priority Secured Parties and Additional Obligations of the Series for which such Authorized Representative is acting shall thereupon become
subject to and bound by the terms and conditions hereof and the terms and conditions of the other Security Documents applicable thereto. 

(d)    Notwithstanding the foregoing, without the consent of any Junior-Priority Secured Party, and at the request of the
Company, the parties hereto shall amend this Agreement in connection with the Refinancing of Junior-Priority Obligations of any Series, in order to amend any defined terms or section references contained herein to the Junior-Priority Secured
Documents governing such Junior-Priority Obligations being Refinanced to the equivalent defined terms or sections references to the Refinanced Junior-Priority Obligations of such Series or to the Junior-Priority Collateral Agreement or any
replacement Security Document entered into in connection with the Refinanced Junior-Priority Obligations of such Series, so long as the Company delivers to each party hereto a certificate of the Company stating that such amendment is permitted by
the terms of each then extant Junior-Priority Secured Document. 
 SECTION 5.03.    Parties in Interest. This
Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns, as well as the other Junior-Priority Secured Parties, all of whom are intended to be bound by, and to be third party
beneficiaries of, this Agreement. 
 SECTION 5.04.    Survival of Agreement. All covenants, agreements,
representations and warranties made by any party in this Agreement shall be considered to have been relied upon by the other parties hereto and shall survive the execution and delivery of this Agreement. 

SECTION 5.05.    Counterparts. This Agreement may be executed in counterparts, each of which shall constitute an
original but all of which when taken together shall constitute a single contract. Delivery of an executed signature page to this Agreement by facsimile transmission shall be as effective as delivery of a manually signed counterpart of this
Agreement. 
 SECTION 5.06.    Severability. Any provision of this Agreement held to be invalid, illegal or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to 

  
 19 

 
the extent of such invalidity, illegality or unenforceability without affecting the validity, legality and enforceability of the remaining provisions hereof; and the invalidity of a particular
provision in a particular jurisdiction shall not invalidate such provision in any other jurisdiction. The parties shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions the
economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. 
 SECTION
5.07.    Governing Law; Jurisdiction; Consent to Service of Process. This Agreement shall be construed in accordance with and governed by the law of the State of New York. 

SECTION 5.08.    Submission to Jurisdiction Waivers. The Collateral Agent and each Authorized Representative, on
behalf of itself and the Junior-Priority Secured Parties of the Series for whom it is acting, irrevocably and unconditionally: 

(a)    submits for itself and its property in any legal action or proceeding relating to this Agreement and
the Security Documents, or for recognition and enforcement of any judgment in respect thereof, to the exclusive general jurisdiction of the courts of the State of New York, and the courts of the United States of America for the Southern District of
New York, in each case located in the Borough of Manhattan, and appellate courts from any thereof; 

(b)    consents that any such action or proceeding may be brought in such courts and waives any objection
that it may now or hereafter have to the venue of any such action or proceeding in any such court or that such action or proceeding was brought in an inconvenient court and agrees not to plead or claim the same; 

(c)    agrees that service of process in any such action or proceeding may be effected by mailing a copy
thereof by registered or certified mail (or any substantially similar form of mail), postage prepaid, to such Person (or its Authorized Representative) at the address referred to in Section 5.01; 

(d)    agrees that nothing herein shall affect the right of any other party hereto (or any Junior-Priority
Secured Party) to effect service of process in any other manner permitted by law or shall limit the right of any party hereto (or any Junior-Priority Secured Party) to sue in any other jurisdiction; and 

(e)    waives, to the maximum extent not prohibited by law, any right it may have to claim or recover in
any legal action or proceeding referred to in this Section 5.08 any special, exemplary, punitive or consequential damages. 
 SECTION
5.09.    WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS AGREEMENT AND FOR ANY COUNTERCLAIM THEREIN. 

  
 20 

 SECTION 5.10.    Headings. Article and Section headings used herein
are for convenience of reference only, are not part of this Agreement and are not to affect the construction of, or to be taken into consideration in interpreting, this Agreement. 

SECTION 5.11.    Conflicts. (a) In the event of any conflict or inconsistency between the provisions of this
Agreement and the provisions of any of the other Junior-Priority Secured Documents (other than the Senior-Junior Intercreditor Agreement and the Amended and Restated ABL Intercreditor Agreement) or Security Documents, the provisions of this
Agreement shall control. 
 (b)    In the event of any conflict between this Agreement and the Senior-Junior
Intercreditor Agreement, the Senior-Junior Intercreditor Agreement shall govern and control. In the event of any conflict between this Agreement and the Amended and Restated ABL Intercreditor Agreement, the Amended and Restated ABL Intercreditor
Agreement shall govern and control. 
 SECTION 5.12.    Provisions Solely To Define Relative Rights. The
provisions of this Agreement are and are intended solely for the purpose of defining the relative rights of the Junior-Priority Secured Parties in relation to one another. None of the Company, any other Pledgor or any other creditor thereof shall
have any rights or obligations hereunder, except as expressly provided in this Agreement (provided that nothing in this Agreement (other than Section 2.04, 2.05, 2.08, 2.09 or Article V) is intended to or will amend, waive or otherwise
modify the provisions of the Junior-Priority Secured Documents), and none of the Company or any other Pledgor may rely on the terms hereof (other than Sections 2.04, 2.05, 2.08, 2.09 and Article V). Nothing in this Agreement is intended to or shall
impair the obligations of any Pledgor, which are absolute and unconditional, to pay the Obligations as and when the same shall become due and payable in accordance with their terms. 

SECTION 5.13.    Relationship to Other Intercreditor Agreements. This Agreement is (i) a “Junior-Priority
Pari Passu Intercreditor Agreement” for purposes of the Amended and Restated ABL Intercreditor Agreement and (ii) a “Junior-Priority Equal Priority Intercreditor Agreement” for purposes of the Senior-Junior Intercreditor
Agreement. Nothing herein is intended to alter the Junior-Priority Secured Parties’ obligations under the Amended and Restated ABL Intercreditor Agreement or Senior-Junior Intercreditor Agreement. 

SECTION 5.14.    Application of Proceeds. Any Collateral or proceeds thereof or payment with respect thereto
received by the Applicable Authorized Representative in accordance with this Agreement shall be applied by the Applicable Authorized Representative in accordance with the Senior-Junior Intercreditor Agreement and subject, in the case of ABL Priority
Collateral, to the Amended and Restated ABL Intercreditor Agreement. 
 SECTION 5.15.    Integration. This
Agreement together with the other Junior-Priority Secured Documents and the Security Documents represents the agreement of each of the Pledgors and the Junior-Priority Secured Parties with respect to the subject matter hereof and there are no
promises, undertakings, representations or warranties by any Pledgor, the Collateral Agent or any other Junior-Priority Secured Party relative to the subject matter hereof not expressly set forth or referred to herein or in the other Junior-Priority
Secured Documents or the Security Documents. 

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

  
 22 

 
							
	REGIONS BANK as Collateral Agent,
			
		 	by	 	           /s/ Kristine Prall

		 		 	Name:	 	Kristine Prall                             
		 		 	Title	 	Vice President                            
			
		 	by	 	           /s/ Arthur G. Mosley,
II

		 		 	Name:	 	Arthur G. Mosley, II                     
		 		 	Title	 	Vice President                            

 
							
	 REGIONS BANK, as 2023 Notes

Authorized Representative,

			
		 	by	 	           /s/ Kristine Prall

		 		 	Name:	 	Kristine Prall                                
		 		 	Title	 	Vice President                            

 
							
	 REGIONS BANK, as 2024 Notes

Authorized Representative,

			
		 	by	 	           /s/ Kristine Prall

		 		 	Name:	 	Kristine Prall                                
		 		 	Title	 	Vice President                            

 CONSENT OF GRANTORS 

Dated: June 22, 2018 

Reference is made to the Junior-Priority Lien Pari Passu Intercreditor Agreement dated as of the date hereof among Regions Bank, in its
capacity as Collateral Agent, Regions Bank, in its capacity as 2023 Notes Authorized Representative, and Regions Bank, in its capacity as 2024 Notes Authorized Representative, as the same may be amended, restated, supplemented, waived, or otherwise
modified from time to time (the “Pari Passu Intercreditor Agreement”). Capitalized terms used but not defined herein shall have the meanings assigned to such terms in the Pari Passu Intercreditor Agreement. 

Each of the undersigned Pledgors has read the foregoing Pari Passu Intercreditor Agreement and consents thereto. Each of the undersigned
Pledgors agrees not to take any action that would be contrary to the express provisions of the foregoing Pari Passu Intercreditor Agreement, agrees to abide by the requirements expressly applicable to it under the foregoing Pari Passu Intercreditor
Agreement and agrees that, except as otherwise provided therein, no Junior-Priority Secured Party shall have any liability to any Pledgor for acting in accordance with the provisions of the foregoing Pari Passu Intercreditor Agreement. Each Pledgor
understands that the foregoing Pari Passu Intercreditor Agreement is for the sole benefit of the Junior-Priority Secured Parties and their respective successors and assigns, and that such Pledgor is not an intended beneficiary or third party
beneficiary thereof except to the extent otherwise expressly provided therein. 
 Without limitation to the foregoing, each Pledgor agrees
to take such further action and to execute and deliver such additional documents and instruments (in recordable form, if requested) as the Collateral Agent may reasonably request to effectuate the terms of and the Lien priorities contemplated by the
Pari Passu Intercreditor Agreement. 
 This Consent shall be governed and construed in accordance with the laws of the State of New York.
Notices delivered to any Pledgor pursuant to this Consent shall be delivered in accordance with the notice provisions set forth in the Pari Passu Intercreditor Agreement. 

 IN WITNESS HEREOF, this Consent is hereby executed by each of the Pledgors as of the date first
written above. 
  

					
	CHS/COMMUNITY HEALTH SYSTEMS, INC.
		
	      by:	 	           /s/ Edward W.
Lomicka

		 	Name:	 	Edward W. Lomicka
		 	Title	 	Vice President and Treasurer

 
					
	
	COMMUNITY HEALTH SYSTEMS, INC.
		
	      by:	 	           /s/ Edward W.
Lomicka

		 	Name:	 	Edward W. Lomicka
		 	Title	 	Vice President and Treasurer

 
					
	
	Each of the Pledgors, listed on Schedule I hereto
		
	      by:	 	           /s/ Edward W.
Lomicka

		 	Name:	 	Edward W. Lomicka
		 	Title	 	Vice President and Treasurer

 SCHEDULE I 

PLEDGORS 
  

			
	1.	  	Abilene Hospital, LLC
	2.	  	Abilene Merger, LLC
	3.	  	Affinity Health Systems, LLC
	4.	  	Affinity Hospital, LLC
	5.	  	Berwick Hospital Company, LLC
	6.	  	Biloxi H.M.A., LLC
	7.	  	Birmingham Holdings II, LLC
	8.	  	Birmingham Holdings, LLC
	9.	  	Bluefield Holdings, LLC
	10.	  	Bluefield Hospital Company, LLC
	11.	  	Bluffton Health System LLC
	12.	  	Brandon HMA, LLC
	13.	  	Brownwood Hospital, L.P.
	14.	  	Brownwood Medical Center, LLC
	15.	  	Bullhead City Hospital Corporation
	16.	  	Bullhead City Hospital Investment Corporation
	17.	  	Campbell County HMA, LLC
	18.	  	Carlsbad Medical Center, LLC
	19.	  	Carolinas Holdings, LLC
	20.	  	Carolinas JV Holdings General, LLC
	21.	  	Carolinas JV Holdings, L.P.
	22.	  	Central Florida HMA Holdings, LLC
	23.	  	Central States HMA Holdings, LLC
	24.	  	Chester HMA, LLC
	25.	  	Chestnut Hill Health System, LLC
	26.	  	CHHS Holdings, LLC
	27.	  	CHHS Hospital Company, LLC
	28.	  	CHS Pennsylvania Holdings, LLC
	29.	  	CHS Receivables Funding, LLC
	30.	  	CHS Tennessee Holdings, LLC
	31.	  	CHS Virginia Holdings, LLC
	32.	  	Citrus HMA, LLC
	33.	  	Clarksville Holdings II, LLC
	34.	  	Clarksville Holdings, LLC
	35.	  	Cleveland Hospital Company, LLC
	36.	  	Cleveland Tennessee Hospital Company, LLC
	37.	  	Clinton HMA, LLC
	38.	  	Coatesville Hospital Corporation
	39.	  	Cocke County HMA, LLC
	40.	  	College Station Hospital, L.P.
	41.	  	College Station Medical Center, LLC
	42.	  	College Station Merger, LLC
	43.	  	Community Health Investment Company, LLC

			
	44.	  	CP Hospital GP, LLC
	45.	  	CPLP, LLC
	46.	  	Crestwood Healthcare, L.P.
	47.	  	Crestwood Hospital LP, LLC
	48.	  	Crestwood Hospital, LLC
	49.	  	CSMC, LLC
	50.	  	Deaconess Holdings, LLC
	51.	  	Deaconess Hospital Holdings, LLC
	52.	  	Desert Hospital Holdings, LLC
	53.	  	Detar Hospital, LLC
	54.	  	DHFW Holdings, LLC
	55.	  	Dukes Health System, LLC
	56.	  	Dyersburg Hospital Company, LLC
	57.	  	Emporia Hospital Corporation
	58.	  	Florida HMA Holdings, LLC
	59.	  	Foley Hospital Corporation
	60.	  	Fort Smith HMA, LLC
	61.	  	Frankfort Health Partner, Inc.
	62.	  	Franklin Hospital Corporation
	63.	  	Gadsden Regional Medical Center, LLC
	64.	  	Gaffney H.M.A., LLC
	65.	  	Granbury Hospital Corporation
	66.	  	GRMC Holdings, LLC
	67.	  	Hallmark Healthcare Company, LLC
	68.	  	Health Management Associates, LLC
	69.	  	Health Management Associates, LP
	70.	  	Health Management General Partner I, LLC
	71.	  	Health Management General Partner, LLC
	72.	  	HMA Fentress County General Hospital, LLC
	73.	  	HMA Hospitals Holdings, LP
	74.	  	HMA Santa Rosa Medical Center, LLC
	75.	  	HMA Services GP, LLC
	76.	  	HMA-TRI Holdings, LLC
	77.	  	Hobbs Medco, LLC
	78.	  	Hospital Management Associates, LLC
	79.	  	Hospital Management Services of Florida, LP
	80.	  	Hospital of Morristown, LLC
	81.	  	Jackson HMA, LLC
	82.	  	Jackson Hospital Corporation
	83.	  	Jefferson County HMA, LLC
	84.	  	Kay County Hospital Corporation
	85.	  	Kay County Oklahoma Hospital Company, LLC
	86.	  	Kennett HMA, LLC
	87.	  	Key West HMA, LLC
	88.	  	Kirksville Hospital Company, LLC
	89.	  	Knoxville HMA Holdings, LLC

			
	90.	  	Lakeway Hospital Company, LLC
	91.	  	Lancaster Hospital Corporation
	92.	  	Laredo Texas Hospital Company, L.P.
	93.	  	Las Cruces Medical Center, LLC
	94.	  	Lea Regional Hospital, LLC
	95.	  	Lebanon HMA, LLC
	96.	  	Longview Clinic Operations Company, LLC
	97.	  	Longview Medical Center, L.P.
	98.	  	Longview Merger, LLC
	99.	  	LRH, LLC
	100.	  	Lutheran Health Network of Indiana, LLC
	101.	  	Madison HMA, LLC
	102.	  	Marshall County HMA, LLC
	103.	  	Martin Hospital Company, LLC
	104.	  	Mary Black Health System LLC
	105.	  	MCSA, L.L.C.
	106.	  	Medical Center of Brownwood, LLC
	107.	  	Metro Knoxville HMA, LLC
	108.	  	Mississippi HMA Holdings I, LLC
	109.	  	Mississippi HMA Holdings II, LLC
	110.	  	Moberly Hospital Company, LLC
	111.	  	Naples HMA, LLC
	112.	  	Natchez Hospital Company, LLC
	113.	  	National Healthcare of Leesville, Inc.
	114.	  	Navarro Hospital, L.P.
	115.	  	Navarro Regional, LLC
	116.	  	NC-DSH, LLC
	117.	  	Northwest Arkansas Hospitals, LLC
	118.	  	Northwest Hospital, LLC
	119.	  	NOV Holdings, LLC
	120.	  	NRH, LLC
	121.	  	Oak Hill Hospital Corporation
	122.	  	Oro Valley Hospital, LLC
	123.	  	Palmer-Wasilla Health System, LLC
	124.	  	Pasco Regional Medical Center, LLC
	125.	  	Pennsylvania Hospital Company, LLC
	126.	  	Phoenixville Hospital Company, LLC
	127.	  	Poplar Bluff Regional Medical Center, LLC
	128.	  	Port Charlotte HMA, LLC
	129.	  	Pottstown Hospital Company, LLC
	130.	  	Punta Gorda HMA, LLC
	131.	  	QHG Georgia Holdings II, LLC
	132.	  	QHG Georgia Holdings, Inc.
	133.	  	QHG Georgia, LP
	134.	  	QHG of Bluffton Company, LLC
	135.	  	QHG of Clinton County, Inc.

			
	136.	  	QHG of Enterprise, Inc.
	137.	  	QHG of Forrest County, Inc.
	138.	  	QHG of Fort Wayne Company, LLC
	139.	  	QHG of Hattiesburg, Inc.
	140.	  	QHG of South Carolina, Inc.
	141.	  	QHG of Spartanburg, Inc.
	142.	  	QHG of Springdale, Inc.
	143.	  	Regional Hospital of Longview, LLC
	144.	  	River Oaks Hospital, LLC
	145.	  	River Region Medical Corporation
	146.	  	ROH, LLC
	147.	  	Roswell Hospital Corporation
	148.	  	Ruston Hospital Corporation
	149.	  	Ruston Louisiana Hospital Company, LLC
	150.	  	SACMC, LLC
	151.	  	Salem Hospital Corporation
	152.	  	San Angelo Community Medical Center, LLC
	153.	  	San Angelo Medical, LLC
	154.	  	Scranton Holdings, LLC
	155.	  	Scranton Hospital Company, LLC
	156.	  	Scranton Quincy Holdings, LLC
	157.	  	Scranton Quincy Hospital Company, LLC
	158.	  	Seminole HMA, LLC
	159.	  	Shelbyville Hospital Company, LLC
	160.	  	Siloam Springs Arkansas Hospital Company, LLC
	161.	  	Siloam Springs Holdings, LLC
	162.	  	Southeast HMA Holdings, LLC
	163.	  	Southern Texas Medical Center, LLC
	164.	  	Southwest Florida HMA Holdings, LLC
	165.	  	Statesville HMA, LLC
	166.	  	Tennessee HMA Holdings, LP
	167.	  	Tennyson Holdings, LLC
	168.	  	Tomball Texas Holdings, LLC
	169.	  	Tomball Texas Hospital Company, LLC
	170.	  	Triad Healthcare, LLC
	171.	  	Triad Holdings III, LLC
	172.	  	Triad Holdings IV, LLC
	173.	  	Triad Holdings V, LLC
	174.	  	Triad Nevada Holdings, LLC
	175.	  	Triad of Alabama, LLC
	176.	  	Triad-ARMC, LLC
	177.	  	Triad-El Dorado, Inc.
	178.	  	Triad-Navarro Regional Hospital Subsidiary, LLC
	179.	  	Tullahoma HMA, LLC
	180.	  	Tunkhannock Hospital Company, LLC
	181.	  	Van Buren H.M.A., LLC

			
	182.	  	Venice HMA, LLC
	183.	  	VHC Medical, LLC
	184.	  	Vicksburg Healthcare, LLC
	185.	  	Victoria Hospital, LLC
	186.	  	Victoria of Texas, L.P.
	187.	  	Virginia Hospital Company, LLC
	188.	  	Weatherford Hospital Corporation
	189.	  	Weatherford Texas Hospital Company, LLC
	190.	  	Webb Hospital Corporation
	191.	  	Webb Hospital Holdings, LLC
	192.	  	Wesley Health System LLC
	193.	  	WHMC, LLC
	194.	  	Wilkes-Barre Behavioral Hospital Company, LLC
	195.	  	Wilkes-Barre Holdings, LLC
	196.	  	Wilkes-Barre Hospital Company, LLC
	197.	  	Woodland Heights Medical Center, LLC
	198.	  	Woodward Health System, LLCExhibit 10.1

 

AMENDMENT NUMBER SEVEN

to the

Master Repurchase Agreement and Securities
Contract

Dated as of February 11, 2014 and Effective
as of February 18, 2014

between

AG MIT WFB1 2014 LLC

and

WELLS FARGO BANK, NATIONAL ASSOCIATION

 

This AMENDMENT NUMBER
SEVEN (this “Amendment Number Seven”) is made this 20th day of June, 2018, by and between AG MIT
WFB1 2014 LLC, a Delaware limited liability company (“Seller”) and WELLS FARGO BANK, NATIONAL ASSOCIATION (“Buyer”),
to the Master Repurchase Agreement and Securities Contract, dated as of February 11, 2014 and effective as of February 18, 2014
(as amended, restated, supplemented or otherwise modified from time to time, the “Repurchase Agreement”), by
and between Seller and Buyer.

 

WHEREAS, pursuant to
the terms of the Repurchase Agreement, from to time at the request of Seller, Seller and Buyer may enter into transactions in which
Seller agrees to sell, transfer and assign to Buyer certain Assets which included certain Grantor Trust Interests and Pass-Through
Trust Interests, against the transfer of funds by Buyer representing the Purchase Price for such Assets.

 

WHEREAS, pursuant to
the terms of this Amendment, Seller and Buyer wish to amend the Repurchase Agreement such that from to time at the request of Seller,
the Seller and Buyer may enter into transactions to sell, transfer and assign certain Assets which shall include certain Mortgage
Loan Participations Interests, Grantor Trust Interests and Pass-Through Trust Interests, against the transfer of funds by Buyer
representing the Purchase Price for such Assets.

 

WHEREAS, Seller and Buyer
have agreed to amend the Repurchase Agreement as set forth herein.

 

NOW THEREFORE, for good
and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and for the mutual covenants herein contained,
the parties hereto hereby agree as follows:

 

SECTION
1.          Amendment. Effective as of June 20, 2018 (the “Amendment
Effective Date”), the Repurchase Agreement is hereby amended as follows:

 

(a)           Section 2.01 of the Repurchase Agreement is hereby amended by deleting the definition of “Assets”
in its entirety and replacing it with the following (modified text underlined for review purposes):

 

“Assets”:
Each of the Mortgage Loan Participation Interests, the Grantor Trust Interests, and the Pass-Through Trust Interests, or
any of them, as the context shall require, together with the beneficial interests in the related Underlying Assets and related
Participation Interests.

 

(b)           Section 2.01 of the Repurchase Agreement is hereby amended by deleting the definition of “Additional Trust
Interests” in its entirety and replacing it with the following (modified text underlined for review purposes):

 

“Additional
Trust Interests”: The incremental, proportionate increase (if any) to the value of the Mortgage Loan Participation Interests,
the Grantor Trust Interests or the Pass-Through Trust Interests, as applicable, resulting from the sale or contribution of one
or more additional Underlying Assets to the Titling Trust and the issuance of related Participation Interests to the Grantor
Trust, the Pass-Through Trust or the Seller, as applicable.

 

    

    

    

 

(c)           Section 2.01 of the Repurchase Agreement is hereby amended by deleting the definition of “Cash Trap Trigger
Event” in its entirety and replacing it with the following (modified text underlined for review purposes):

 

“Cash
Trap Trigger Event”: The occurrence and continuation of any of the following events: (i) a Servicer Termination Event
with respect to the then current Servicer, (ii) an Event of Default, (iii) the Aggregate Purchase Price outstanding as of any date
of determination is less than $7,000,000, (iv) the expiration of the Funding Period, or (v) an Investment Manager Cross Default.

 

(d)           Section 2.01 of the Repurchase Agreement is hereby amended by deleting the definition of “Eligible Assets”
in its entirety and replacing it with the following (modified text underlined for review purposes):

 

“Eligible
Assets”: Each of the Eligible Mortgage Loan Participation Interests, the Eligible Mortgage Loans, Eligible REO Properties,
Eligible Grantor Trust Interests, and Eligible Pass-Through Trust Interests, or any of them, as the context
may require.

 

(e)           Section 2.01 of the Repurchase Agreement is hereby amended by deleting clauses (vii), (viii),
(xi), (xiv) and (xviii) of the definition of “Eligible Mortgage Loan” in their respective
entireties and replacing them with the following (modified text underlined for review purposes):

 

(vii)         [Reserved];

 

(viii)        [Reserved];

 

(xi)           The
related Mortgaged Property is located in the jurisdiction identified in the related Mortgage Loan Schedule and consists of a single
parcel of real property with a detached single family residence erected thereon, or a two- to four-family dwelling, vacant land,
or an individual condominium unit in a low-rise or high rise condominium project, or an individual unit in a planned unit development
or a de minimis planned unit development, a manufactured home, or shares in a co-operative;

 

(xiv)        With
respect each (a) Non-Performing Mortgage Loan subject to a Transaction hereunder, a BPO has been conducted and delivered to Buyer
with respect to the related Mortgaged Property no longer than one hundred eighty (180) days after the most recent BPO was delivered
with respect to the related Mortgaged Property for such Non-Performing Mortgage Loan, (b) Performing Mortgage Loan or Re-Performing
Mortgage Loan subject to a Transaction hereunder a BPO was delivered with respect to the related Mortgaged Property no longer than
three hundred sixty (360) days after the most recent BPO was delivered with respect to the related Mortgaged Property for such
Performing Mortgage Loan or Re-Performing Mortgage Loan, (c) Performing Mortgage Loan or Re-Performing Mortgage Loan subject to
a Transaction hereunder that becomes a Non-Performing Mortgage Loan on any date of determination, Seller shall have delivered to
Buyer an updated BPO with respect to the related Mortgaged Property within thirty (30) days after such date of determination, and
in each case, Seller shall have provided all valuation data equivalent to competitive market analysis or otherwise generated by
Servicers monthly.

 

    

    

    

 

(xviii)      [Reserved];

 

(f)            Section 2.01 of the Repurchase Agreement is hereby amended by deleting clause (viii) of the definition of
“Eligible REO Property” in its entirety and replacing it with the following (modified text underlined for review
purposes):

 

(viii)        The
Purchase Price of such REO Property, when added to the aggregate Purchase Price of all REO Properties then subject to Transactions,
is less than or equal to the product of (i) 20% and (ii) the Aggregate Purchase Price;

 

(g)           Section 2.01 of the Repurchase Agreement is hereby amended by deleting the definition of “Facility Fee”
in its entirety and replacing it with the following (modified text underlined for review purposes):

 

“Facility
Fee”: None.

 

(h)           Section 2.01 of the Repurchase Agreement is hereby amended by deleting the definition of “Margin Excess”
in its entirety and replacing it with the following:

 

“Margin
Excess”: As of any date of determination, an amount equal to the positive difference, if any, between (i) the aggregate
Market Value of all Purchased Assets subject to Transaction as of such date of determination and (ii) the product of (A) Buyer’s
Margin Percentage times (B) the aggregate outstanding Purchase Price for such Purchased Assets as of such date.

 

(i)            Section 2.01 of the Repurchase Agreement is hereby amended by deleting the definition of “Market Value”
in its entirety and replacing it with the following (modified text underlined for review purposes):

 

“Market
Value”: As of any date, the value, determined by Buyer of Underlying Assets (including the related Servicing Rights)
using criteria that Buyer uses to value similar assets that are subject to similar repurchase facilities with similarly structured
and situated counterparties; provided that if a Default or Event of Default by Seller exists, then such determination, in Buyer’s
discretion, may be based on the sale of such Underlying Assets in their entirety to a single third-party purchaser taking
into account the fact that the Underlying Assets may be sold under circumstances in which Seller is in default under this Agreement.
Buyer’s determination of Market Value shall be conclusive upon the parties, absent manifest error on the part of the Buyer.
Buyer shall have the right to mark to market the Underlying Assets on a daily basis which Market Value with respect to one or more
of the Underlying Assets may be determined to be zero. Notwithstanding anything else in this definition, the Market Value may
be determined to be zero with respect to each Underlying Asset with respect to which:

 

(a)           the requirements
of the definition of Eligible Asset are not satisfied, as determined by Buyer;

 

(b)           a
Representation Breach exists with respect to such Underlying Asset, as determined by Buyer;

 

    

    

    

 

(c)           any
written statement, affirmation or certification made or information, document, agreement, report or notice delivered by
any Relevant Party to Buyer with respect to such Underlying Asset is untrue in any material respect;

 

(d)           any
Retained Interest, funding obligation or any other obligation of any kind has been transferred to Buyer;

 

(e)           Seller
fails to tender the Repurchase Price to Buyer with respect to such Underlying Asset by the Repurchase Date;

 

(f)            [reserved];

 

(g)           [reserved];

 

(h)           any
material Underlying Asset Document has been released from the possession of Custodian under the Custodial Agreement to Seller or
Servicer for more than twenty (20) days;

 

(i)            Seller
or Servicer fails to deliver any reports required hereunder where such failure adversely affects the Market Value thereof or Buyer’s
ability to determine Market Value therefor;

 

(k)           (i)
there is material exception in the related trust receipt or bailee letter that has not been waived in writing by Buyer,
or (ii) Buyer has not received a trust receipt or bailee letter; or

 

(k)           all
Underlying Asset Documents have not been delivered to the Custodian within the time periods required by the Custodial Agreement.

 

(j)            Section 2.01 of the Repurchase Agreement is hereby amended by deleting the definition of “Material Adverse
Effect” in its entirety and replacing it with the following (modified text underlined for review purposes):

 

“Material
Adverse Effect”: The occurrence of a material adverse effect on or material adverse change in or to (a) the operations,
business or financial condition of any Relevant Party, (b) the ability of Seller to pay and perform the Repurchase Obligations,
(c) with respect to a Guarantor, the ability of such Guarantor to pay and perform its Guaranty Obligations
(as defined in its respective Guaranty), (d) the validity, legality, binding effect or enforceability of any Repurchase
Document or Structural Agreement or security interest granted hereunder, (e) the rights and remedies of Buyer or any Indemnified
Person under any Repurchase Document, or (f) the perfection or priority of any Lien granted to Buyer under any Repurchase Document.

 

(k)           Section 2.01 of the Repurchase Agreement is hereby amended by deleting the definition of “Participation
Agreement” in its entirety and replacing it with the following:

 

“Participation
Agreement”: The Amended and Restated Participation Agreement, dated as of June 20, 2018, among Titling Trust, Program
Administrator, Seller, Participation Agent, Pass-Through Trust and Grantor Trust, pursuant to which Participation Interests in
Underlying Assets are issued by the Titling Trust to the Grantor Trust, the Pass-Through Trust or the Seller, as applicable, including
any participation supplement related thereto.

 

    

    

    

 

(l)            Section 2.01 of the Repurchase Agreement is hereby amended by deleting the definition of “Participation
Interests” in its entirety and replacing it with the following (modified text underlined for review purposes):

 

“Participation
Interests”: With respect to each Underlying Asset, all of the certificated or uncertificated economic, beneficial
and equitable ownership interests (together with the related Servicing Rights) therein that is issued by a Titling Trust pursuant
to the applicable Participation Agreement and owned by the Grantor Trust, the Pass-Through Trust or the holder of the
Mortgage Loan Participation Certificate, as applicable.

 

(m)          Section 2.01 of the Repurchase Agreement is hereby amended by deleting the definition of “Performing Mortgage
Loan” in its entirety and replacing it with the following (modified text underlined for review purposes):

 

“Performing
Mortgage Loan”: A Mortgage Loan for which no scheduled Monthly Payment is currently thirty (30) or more days contractually
delinquent (without regard to any applicable grace period) and no scheduled Monthly Payment was thirty (30) or more days contractually
delinquent (without regard to any applicable grace period) for the twenty-four (24) month period prior to the related Purchase
Date for such Mortgage Loan.

 

(n)           Section 2.01 of the Repurchase Agreement is hereby amended by deleting the definition of “Relevant Party”
in its entirety and replacing it with the following:

 

“Relevant
Party”: Any of Seller, any Guarantor or any Underlying Entity, or all of them, as the context shall require.

 

(o)           Section 2.01 of the Repurchase Agreement is hereby amended by deleting the definition of “Re-Performing
Mortgage Loan” in its entirety and replacing it with the following:

 

“Re-Performing
Mortgage Loan”: Any Mortgage Loan (other than a Non-Performing Mortgage Loan or a Performing Mortgage Loan).

 

(p)           Section 2.01 of the Repurchase Agreement is hereby amended by deleting the definition of “Trust Certificates”
in its entirety and replacing it with the following (modified text underlined for review purposes):

 

“Trust
Certificates”: Collectively, the Mortgage Loan Participation Certificate, the Grantor Trust Certificate and the Pass-Through
Trust Certificate.

 

(q)           Section 2.01 of the Repurchase Agreement is hereby amended by deleting the definition of “Trust Interests”
in its entirety and replacing it with the following (modified text underlined for review purposes):

 

“Trust
Interests”: Collectively, the Mortgage Loan Participation Interests, the Grantor Trust Interests and the Pass-Through
Trust Interests.

 

(r)            Section 2.01 of the Repurchase Agreement is hereby amended by adding the following new definitions in the proper
alphabetical order:

 

“Eligible
Mortgage Loan Participation Interests”: Each Mortgage Loan Participation Interest (including related Additional Trust
Interests) as to which (a) each of the representations and warranties in Sections 7.06, 7.10, 7.12 and 7.14
are true and correct in all material respects, and (b) each of the following eligibility requirements are satisfied:

 

    

    

    

 

(i)            Such
Mortgage Loan Participation Interests are wholly owned by Seller;

 

(ii)           Such
Mortgage Loan Participation Interests are evidenced by a Mortgage Loan Participation Certificate;

 

(iii)          No
Representation Breach exists with respect to such Mortgage Loan Participation Interests;

 

(iv)          On
the related Purchase Date, such Mortgage Loan Participation Interests are approved by Buyer in its discretion; and

 

(v)          Any
other eligibility criteria as mutually agreed to by Buyer and Seller.

 

provided,
that notwithstanding the failure of the Mortgage Loan Participation Interests to conform to the requirements of this definition,
Buyer may, subject to such terms, conditions and requirements and Applicable Percentage adjustments as Buyer may require, designate
in writing any such non-conforming Mortgage Loan Participation Interests as an Eligible Asset, which designation (1) may include
a waiver of one or more Eligible Asset requirements, and (2) shall not be deemed a waiver of the requirement that all other
Assets must be Eligible Assets (including any Assets that are similar or identical to the Asset subject to the waiver).

 

“Investment
Manager Cross Default”: If Investment Manager defaults beyond any applicable grace period in paying any amount or performing
any material non-monetary obligation due to Buyer or any Affiliate of Buyer under any other financing, hedging, security or other
agreement (other than under this Agreement) between such Person and Buyer or any Affiliate of Buyer.

 

“Mortgage
Loan Participation Certificate”: The beneficial interest certificate issued pursuant to the Participation Agreement evidencing
100% of the designated Mortgage Loan Participation Interests, as reflected on the schedule to the related participation supplement.

 

“Mortgage
Loan Participation Interest”: Participation Interests issued with respect to Underlying Assets that are Mortgage Loans.

 

“Ordinary
Course Disposition”: The disposition of an Underlying Asset through normal servicer activities including, without limitations,
pre-payments, short sales, scheduled pay downs, deeds-in-lieu and other individual liquidations.

 

“Participation
Interest Account”: The trust account established by the Participation Agent pursuant to Section 4.01(a) of the Participation
Agreement.

 

“Program
Administrator Termination Event”: The occurrence of any of the following: (a) material breach by the Program Administrator
of any Repurchase Document or Structural Agreement to which it is a party; (b) an Insolvency Event shall have occurred with respect
to the Program Administrator; (c) the Program Administrator shall admit in writing its inability to, or intention not to, perform
any of its obligations under this Agreement or any of the other Repurchase Documents to which it is a party; or (d) an Event of
Default.

 

    

    

    

 

“Specific
Indebtedness”: The sum of (i) total liabilities per its consolidated balance sheet less (ii) all non-recourse indebtedness
less (iii) the aggregate net value of its derivative liabilities less (iv) non-mandatory redeemable stock less (v) accrued expenses
less (vi) borrowings under repurchase agreements secured by U.S. Treasuries plus (vii) the aggregate of the net economic positions
of U.S. Treasuries that collateralize the associated reverse repurchase agreements (netting the receivable under reverse repurchase
agreements with the obligation to return securities borrowed under reverse repurchase agreements, at fair value) plus (viii) the
total debt outstanding and related accrued interest payable pursuant to any repurchase agreement that is not separately presented
on the consolidated balance sheet.

 

“Sub-Participation
Interest Account”: The trust account established by the Participation Agent with respect to each participant pursuant
to Section 4.01(h) of the Participation Agreement.

 

(s)           Section
2.01 of the Repurchase Agreement is hereby amended by deleting the definitions of “Buyer’s Maximum Margin Percentage”,
“Foreclosure Age”, “Maximum Foreclosure Age” and “Sub-Performing Mortgage Loan”
in their respective entireties.

 

(t)            Section 3.04 of the Repurchase Agreement is hereby amended by deleting it in its entirety and replacing it with the
following (modified text underlined for review purposes):

 

Section 3.04Early
Repurchase Date; Mandatory Repurchases. 

 

(a)           Seller
may terminate all or any portion of a Transaction on any date prior to the related Repurchase Date with respect to any or all Underlying
Assets (an “Early Repurchase Date”); provided, that (i) Seller irrevocably notifies Buyer at least
five (5) Business Days before the proposed Early Repurchase Date identifying the Underlying Assets to be repurchased and the
Repurchase Price thereof (which for the avoidance of doubt shall only include accrued and unpaid Price Differential through but
excluding the proposed Early Repurchase Date), (ii) Seller delivers a certificate from a Responsible Officer of Seller in
form and substance satisfactory to Buyer certifying that no Margin Deficit, Cash Trap Trigger Event (if the Aggregate Purchase
Price would be greater than zero after such Sale and Disposition), Default or Event of Default exists or would exist as a result
of such repurchase (or would not be fully cured after applying the related Net Liquidation Proceeds in accordance with Section
5.02), (iii) if the Early Repurchase Date is not a Remittance Date, Seller pays to Buyer any amount due under Section 12.03,
(iv) Seller pays to Buyer any Exit Fee due in accordance with the terms of the Fee Letter, (v) Seller pays to Buyer the
related Repurchase Price; provided, that in the case of an Ordinary Course Disposition or a Sale and Disposition of an Underlying
Asset, (x) the related Net Liquidation Proceeds are remitted directly to the applicable Sub-Participation Interest Account (or
first deposited in the applicable Participation Interest Account), and then distributed to the applicable Underlying Entity Account
(if applicable) and then to the Waterfall Account, all within one (1) Business Day following the applicable monthly remittance
date (as specified in the related Servicing Agreement), and (y) Seller remits the positive difference (if any) between the Repurchase
Price for such Purchased Assets and the related Net Liquidation Proceeds to the Waterfall Account or otherwise at the direction
of Buyer and (vi) Seller thereafter complies with Section 3.05. Buyer shall cooperate with Seller in connection
with Seller effecting a Sale and Disposition with respect to the Underlying Assets including without limitations entering into
bailee letters and escrow arrangements as reasonably requested by Seller in connection such Sale and Disposition. Unless otherwise
permitted Buyer, such early terminations and repurchases shall be limited to three (3) occurrences in any calendar week. If
Seller effects an Ordinary Course Disposition or a Sale and Disposition with respect to any Purchased Assets, Buyer shall
instruct the Account Bank to apply all Income deposited in the Waterfall Account in respect of such Ordinary Course Disposition
or Sale and Disposition on the related Early Repurchase Date in accordance with the priorities set forth in Section 5.02
herein. For the sake of clarity, nothing contained in this Agreement or any other Repurchase Document shall limit or otherwise
restrict Seller’s ability to reduce the Aggregate Purchase Price by remitting cash directly to Buyer to be applied towards
such reduction.

 

    

    

    

 

(b)           In
addition to other rights and remedies of Buyer under any Repurchase Document, if Buyer determines on any date that any Underlying
Asset is not an Eligible Asset or is the subject of a Representation Breach, at Buyer’s request, Seller shall pay Buyer the
Repurchase Price allocable to such Underlying Assets and shall cause the applicable Underlying Entity to sell or otherwise transfer
out such Underlying Asset (1) if Buyer delivers notice of such request before 11:00 a.m. New York City time on a Business Day,
by no later than 5:00 p.m. New York City time on the second (2nd) following Business Day or (2) if Buyer delivers
notice of such request after 11:00 a.m. New York City time on a Business Day, by no later than 5:00 p.m. New York City time on
the third (3rd) Business Day following the date of such notice.

 

(u)           Section 3.07 of the Repurchase Agreement is hereby amended by deleting it in its entirety and replacing it with the
following (modified text underlined for review purposes):

 

Section
3.07[Reserved].

 

(v)           Section 3.08(c) of the Repurchase Agreement is hereby amended by deleting clause (iii) in its entirety and
replacing it with the following (modified text underlined for review purposes):

 

(iii)          [reserved];
and

 

(w)          Section 4.01(a)(i) of the Repurchase Agreement is hereby amended by deleting clause (A) in its entirety and
replacing it with the following:

                 

(A)          Buyer’s
Margin Percentage times

 

(x)            Section 7.09 of the Repurchase Agreement is hereby amended by deleting it in its entirety and replacing it with the
following:

 

Section
7.09No Default or Event of Default has occurred and is continuing. Seller believes that it is and will be able to pay and perform
each agreement, duty, obligation and covenant contained in the Repurchase Documents to which it is a party. Seller has no Knowledge
of any actual or prospective development, event or other fact that would reasonably be expected to have a Material Adverse Effect.
No Internal Control Event has occurred.

 

(y)           Section 8.07 of the Repurchase Agreement is hereby amended by deleting clause (a) in its entirety and replacing
it with the following (modified text underlined for review purposes):

    

    

    

 

(a)           Leverage
Ratio. As of the last Business Day of the quarter and on any funding date, Seller and Guarantors shall maintain a ratio of its
Specific Indebtedness to its Adjusted Tangible Net Worth at less than the Leverage Ratio.

 

(z)            Section 8.25 of the Repurchase Agreement is hereby amended by deleting it in its entirety and replacing it with the
following (modified text underlined for review purposes):

 

Section
8.25[Reserved].

 

(aa)         Section 10.01 of the Repurchase Agreement is hereby amended by deleting it in its entirety and replacing it with
the following:

 

Section 10.01
Event of Default. Each of the following events shall be an “Event of Default”:

 

(a)           Seller fails to make a payment of (i) Margin Deficit or Repurchase Price (other than Price Differential) when due, whether
by acceleration or otherwise, (ii) Price Differential within one (1) Business Day of when due, or (iii) any other amount
within two (2) Business Days of when due, in each case under the Repurchase Documents;

 

(b)           Seller or any Underlying Entity fails to observe or perform any covenant applicable to it under the Repurchase Documents
in any material respect and such failure continues unremedied for five (5) Business Days (to the extent such failure is capable
of being cured) after the earlier of receipt of notice thereof from Buyer or the discovery of such failure by Seller;

 

(c)           Any Representation Breach (other than a Representation Breach regarding any Underlying Asset-related representation contained
in Section 7.10 and any representation in Schedule 1-A or 1-B, breach of which shall be considered solely for the purpose of determining
the Market Value of the Underlying Assets, unless (i) Seller shall have made any such representations and warranties with Knowledge
that they were materially false or misleading at the time made, or (ii) Buyer determines that any such representations and warranties
continue to be regularly made on a materially false or misleading basis), exists and continues unremedied for five (5) Business
Days after the earlier of receipt of notice thereof from Buyer or the discovery of such failure by Seller;

 

(d)           Seller, any Guarantor or any Underlying Entity defaults beyond any applicable grace period in paying any amount or performing
any obligation under any Indebtedness, Guarantee Obligation or Contractual Obligation with an outstanding amount of at least $5,000,000
in the aggregate (excluding, for the avoidance of doubt, solely for purposes of this clause (d) any Contractual Obligation of (x)
a securitization issuer or similar entity or (y) a special purpose entity controlled directly or indirectly by Seller or under
common control with Seller and/or any Guarantor, unless such Contractual Obligation is payable to Buyer or any of its Affiliates
(other than in their capacity as the holders of one or more bonds or securities issued by any such special purpose entity)), and
the effect of such default is to permit the acceleration thereof (regardless of whether such default is waived or such acceleration
occurs);

 

(e)           Seller, any Guarantor or any Underlying Entity defaults beyond any applicable grace period in paying any amount or performing
any obligation due to Buyer or any Affiliate of Buyer under any other financing, hedging, security or other agreement (other than
under this Agreement) between such Person and Buyer or any Affiliate of Buyer;

 

    

    

    

 

(f)            An Insolvency Event occurs with respect to Seller, any Guarantor or any Underlying Entity or Investment Manager;

 

(g)           A Change of Control occurs without Buyer’s prior written consent;

 

(h)           A final judgment or judgments for the payment of money in excess of $5,000,000, with respect to REIT Guarantor, $5,000,000
with respect to Seller, $5,000,000 in the aggregate with respect to the Underlying Entities or $5,000,000 in the aggregate with
respect to AG MIT Guarantor and Investment Manager, in each case, by one or more Governmental Authorities and the same is not satisfied,
discharged (or provision has not been made for such discharge) or bonded, or a stay of execution thereof has not been procured,
within thirty (30) Business Days from the date of entry thereof;

 

(i)            A Governmental Authority takes any action to (i) condemn, seize or appropriate, or assume custody or control of, all
or any substantial part of the property of Seller, and Guarantor or any Underlying Entity, (ii) displace the management of
Seller, any Guarantor or any Underlying Entity or (iii) terminate the activities of any Relevant Party as contemplated by
the Repurchase Documents;

 

(j)            Any of Seller, any Guarantor, Investment Manager or any Underlying Entity admits in writing that it is not Solvent or Seller
admits in writing that it is not able or not willing to perform any of its Repurchase Obligations;

 

(k)           Any provision of the Repurchase Documents, any right or remedy of Buyer or obligation, covenant, agreement or duty of any
of or any Seller, any Guarantor or Underlying Entity thereunder, or any Lien, security interest or control granted under or in
connection with the Repurchase Documents or Purchased Assets terminates, is declared null and void, ceases to be valid and effective,
ceases to be the legal, valid, binding and enforceable obligation of any of Seller, any Guarantor or any Underlying Entity or any
other Person, or the validity, effectiveness, binding nature or enforceability thereof is contested, challenged, denied or repudiated
by such Person, in each case directly, indirectly, in whole or in part;

 

(l)            Buyer ceases for any reason to have a valid and perfected first priority security interest in any Purchased Asset or any
Account;

 

(m)          Any of Seller, any Guarantor or any Underlying Entity is required to register as an “investment company” (as
defined in the Investment Company Act);

   

(n)           Any of Seller, any Guarantor or any Underlying Entity engages in any conduct or action where Buyer’s prior consent
is required by any Repurchase Document and such Person fails to obtain such consent and such conduct or action continues for two
(2) Business Days after receipt of notice thereof from Buyer;

 

(o)           Seller, Servicer, and Guarantor, Program Administrator or any Underlying Entity acting on behalf of, or at the direction
of, any of the foregoing, fails to remit all Income and other amounts as and when required by Section 5.01;

 

(p)           Any Guarantor’s audited annual financial statements or the notes thereto or other opinions or conclusions stated therein
are qualified or limited by reference to the status of Seller or any Guarantor as a “going concern” or a reference
of similar import, other than a qualification or limitation expressly related to Buyer’s rights in the Purchased Assets;

 

    

    

    

 

(q)           REIT Guarantor fails to (i) maintain its status as a REIT under all applicable laws and regulations or (ii) comply with
the conditions and limitations set forth in Section 856(c)(2), (3) and (4) of the Code and any Treasury Regulations promulgated
thereunder;

 

(r)            (i) A Plan shall arise on the assets of Seller, any Underlying Entity or any ERISA Affiliate thereof, (ii) Seller, any Underlying
Entity or ERISA Affiliate thereof has established, sponsored, contributed to or had any obligation to contribute to any Plan or
Multiemployer Plan or (iii) the assets of Seller or any Underlying Entity are treated as “plan assets” under 29 C.F.R.
2510.3-101 as amended by Section 3(42) of ERISA;

 

(s)           There shall have occurred a Guaranty Default that continues unremedied for a period of two (2) Business Days;

 

(t)            Seller shall fail to maintain funds in an aggregate amount equal to the Required Amount in the Interest Reserve Account
which failure continues unremedied for a period of two (2) Business Days;

 

(u)           A default shall have occurred under any of the Structural Agreements that could reasonably be expected to have a Material
Adverse Effect (under clause (d), (e) or (g) of such definition);

 

(v)           A Servicer Termination Event shall have occurred with respect to a Servicer and Seller shall fail (x) to identify a successor
servicer to replace such Servicer that is acceptable to Buyer or (y) to transfer the servicing of the Underlying Assets to such
successor servicer acceptable to Buyer within the time period provided for in the applicable Servicing Agreement, in each case,
within the lesser of (i) the applicable time period provided for in the applicable Servicing Agreement and (ii) sixty (60) days
(or such longer time as may be required by the automatic stay if the Servicer Termination Event is the result of an Insolvency
Event with respect to Servicer);

 

(w)          Except as described elsewhere in this Section 10.01, there shall have occurred a material default or breach under any of
the Repurchase Documents and such default or breach is not cured within the applicable cure period provided therein, or if no cure
period is so provided, and such default or breach is capable of being cured, such default or breach remains unremedied for two
(2) Business Days after the earlier of receipt of notice thereof from Buyer or the discovery of such failure by Seller;

 

(x)            AG REIT Management, LLC ceases to be the Investment Manager of Guarantor and shall not have been replaced with another investment
manager that is satisfactory to Buyer, as evidenced in writing by Buyer;

 

(y)           Any
condition or circumstance which causes, constitutes or may cause or constitute a Material Adverse Effect, as reasonably determined
by Buyer, shall have occurred and be continuing; or

 

(z)            A
Program Administrator Termination Event shall occur and Seller shall fail to replace the Program Administrator with a successor
that is acceptable to Buyer within sixty (60) days of the occurrence of such event.

 

    

    

    

 

(bb)         Section 12.04 of the Repurchase Agreement is hereby amended by deleting it in its entirety and replacing it with
the following (modified text underlined for review purposes):

 

Section
12.04Increased Costs. If the adoption of or any change in any Requirements of Law or in the interpretation or application
thereof by any Governmental Authority or compliance by Buyer with any request or directive (whether or not having the force of
law) from any central bank or other Governmental Authority having jurisdiction over Buyer made after the date of this Agreement
(a) shall subject Buyer to any tax of any kind whatsoever with respect to the Repurchase Documents, any Purchased Asset or
any Transaction, or change the basis of taxation of payments to Buyer in respect thereof (except for income taxes and any changes
in the rate of tax on Buyer’s overall Net Income), (b) shall impose, modify or hold applicable any reserve, special
deposit, compulsory loan or similar requirement against assets held by, deposits or other liabilities in or for the account of,
advances, loans or other extensions of credit by, or any other acquisition of funds by, any office of Buyer, or (c) shall
impose on Buyer any other condition; and the result of any of the preceding clauses (a), (b) and (c) is to increase the cost
to Buyer, by an amount that Buyer deems to be material, of entering into, continuing or maintaining Transactions, or to reduce
any amount receivable under the Repurchase Documents in respect thereof, then, in any such case, Seller shall pay to Buyer such
additional amount or amounts as reasonably necessary to fully compensate Buyer for such increased cost or reduced amount receivable;
provided, however, Buyer shall treat each Seller in the same manner it treats other similarly situated sellers in similar repurchase
facilities with substantially similar assets. Buyer shall provide written notice to Seller of any change or event pursuant
to which additional amounts are due or become due under this Section 12.04 as soon as reasonably practicable after it becomes
aware of any such change or event. Upon receipt of such notice, Seller, in its discretion, shall (a) pay all additional amounts
due under this Section 12.04 or (b) repurchase all of the Purchased Assets in accordance with Section 3.05.

 

(cc)         Section 12.05 of the Repurchase Agreement is hereby amended by deleting it in its entirety and replacing it with
the following (modified text underlined for review purposes):

 

(dd)         Section 12.05Capital Adequacy. If Buyer determines that the adoption of or any change in any Requirements of
Law regarding capital adequacy or in the interpretation or application thereof or compliance by Buyer or any corporation Controlling
Buyer with any request or directive regarding capital adequacy (whether or not having the force of law) from any Governmental Authority
made after the date of this Agreement has or shall have the effect of reducing the rate of return on Buyer’s or such corporation’s
capital as a consequence of its obligations hereunder to a level below that which Buyer or such corporation could have achieved
but for such adoption, change or compliance (taking into consideration Buyer’s or such corporation’s policies with
respect to capital adequacy) by an amount deemed by Buyer to be material, then, in any such case, Seller shall pay to Buyer such
additional amount or amounts as reasonably necessary to fully compensate Buyer for such reduction. In determining any additional
amounts due under this Section 12.05, Buyer shall treat each Seller in the same manner it treats other similarly situated sellers
in similar repurchase facilities with substantially similar assets. Buyer shall provide written notice to Seller of any change
or event pursuant to which additional amounts are due or become due under this Section 12.05 as soon as reasonably practicable
after it becomes aware of any such change or event. Upon receipt of such notice, Seller, in its discretion, shall (a) pay all additional
amounts due under this Section 12.05 or (b) repurchase all of the Purchased Assets in accordance with Section 3.05.

 

(ee)         Schedule 5 of the Repurchase Agreement is hereby amended by deleting the text of such schedule in its entirety and
replacing it with the following:

 

    

    

    

 

SCHEDULE 5

 

[RESERVED]

 

SECTION
2.          Defined Terms. Any terms capitalized but not otherwise defined
herein should have the respective meanings set forth in the Repurchase Agreement.

 

SECTION
3.         Certain Provisions Regarding the Mortgage Loan Participation
Interests and the Mortgage Loan Participation Certificates. Seller hereby acknowledges and agrees that certain conditions precedent,
representations and warranties, covenants and other provisions set forth in Sections 3.01(g), 3.01(h), 3.02, 4.01, 6.03, 7.10,
7.11, 7.14, 8.10, 8.28, 8.29 and 8.31 of the Repurchase Agreement relate to Grantor Trust Interests, Grantor Trust Certificates,
Pass-Through Trust Interests and/or Pass-Through Trust Certificates, as applicable. The Seller hereby further acknowledges and
agrees that such conditions precedent, representations and warranties, covenants and other provisions shall apply to the Mortgage
Loan Participation Interests and the Mortgage Loan Participation Certificate, as applicable, as if each such condition precedent,
representation and warranty, covenant and other provision was set forth in the Repurchase Agreement with respect to the Mortgage
Loan Participation Interests and the Mortgage Loan Participation Certificate, mutatis mutandis.

 

SECTION
4.          Limited Effect. Except as amended hereby, the Repurchase
Agreement shall continue in full force and effect in accordance with its terms. Reference to this Amendment Number Seven need not
be made in the Repurchase Agreement or any other instrument or document executed in connection therewith, or in any certificate,
letter or communication issued or made pursuant to, or with respect to, the Repurchase Agreement, any reference in any of such
items to the Repurchase Agreement being sufficient to refer to the Repurchase Agreement as amended hereby.

 

SECTION
5.          Representations. In order to induce Buyer to execute and
deliver this Amendment Number Seven, Seller hereby represents to Buyer that as of the date hereof, except as otherwise expressly
waived by Buyer in writing, Seller is in full compliance with all of the terms and conditions of the Repurchase Agreement and the
Repurchase Agreement, including without limitation, all of the representations and warranties and all of the affirmative and negative
covenants, and no Default or Event of Default has occurred and is continuing under the Repurchase Agreement.

 

SECTION
6.          Fees and Expenses. Seller agrees to pay to Buyer all reasonable
fees and out of pocket expenses incurred by Buyer in connection with this Amendment Number Seven (including all reasonable fees
and out of pocket costs and expenses of Buyer’s legal counsel incurred in connection with this Amendment Number Seven) pursuant
to Section 13.02 of the Repurchase Agreement.

 

SECTION
7.          Governing Law. This Amendment Number Seven and any claim,
controversy or dispute arising under or related to or in connection with this Amendment Number Seven, the relationship of the parties,
and/or the interpretation and enforcement of the rights and duties of the parties will be governed by the laws of the State of
New York without regard to any conflicts of law principles other than Sections 5-1401 and 5-1402 of the New York General Obligations
Law.

 

SECTION
8.          Counterparts. This Amendment Number Seven may be executed
in two (2) or more counterparts, each of which shall be deemed an original but all of which together shall constitute but one and
the same agreement. This Amendment Number Seven, to the extent signed and delivered by facsimile or other electronic means, shall
be treated in all manner and respects as an original agreement and shall be considered to have the same binding legal effect as
if it were the original signed version thereof delivered in person. No signatory to this Amendment Number Seven shall raise the
use of a facsimile machine or other electronic means to deliver a signature or the fact that any signature or agreement was transmitted
or communicated through the use of a facsimile machine or other electronic means as a defense to the formation or enforceability
of a contract and each such Person forever waives any such defense.

 

 

[SIGNATURE PAGE
FOLLOWS]

    

    

    

 

IN WITNESS WHEREOF,
Seller and Buyer have caused this Amendment Number Seven to be executed and delivered by their duly authorized officers as of the
Amendment Effective Date.

 

WELLS FARGO BANK, NATIONAL

ASSOCIATION, as Buyer

 

 

	By: 	/s/ Kevin Graves

Name: Kevin Graves

Title: Vice President

 

 

[Additional Signature
Page Follows]

 

Signature Page to Amendment Number Seven
to Master Repurchase Agreement (Wells Fargo-Angelo Gordon)

    

    

    

 

AG MIT WFB1 2014 LLC, as Seller

 

		By:	AG MIT, LLC, its sole member

 

		By:	AG Mortgage Investment Trust, Inc., its sole member

 

 

	By: 	/s/ Raul E. Moreno

Name: Raul E. Moreno

Title: General Counsel

 

 

Signature Page to Amendment Number Seven
to Master Repurchase Agreement (Wells Fargo-Angelo Gordon)

    

    

    

 

Acknowledged and Agreed:

 

RED CREEK ASSET management
LLC 

 

 

	By: 	/s/ Brian Sigman

Name: Brian Sigman

Title: Vice President

 

 

Signature Page to Amendment Number Seven
to Master Repurchase Agreement (Wells Fargo-Angelo Gordon)

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