Document:

Amended and Restated Receivables Purchase Agreement

 EXHIBIT 10.2 

EXECUTION COPY 
 AMENDED AND RESTATED 
 RECEIVABLES PURCHASE AGREEMENT 

Dated as of October 6, 2009 
 Among 
 ARCH CHEMICALS RECEIVABLES CORP., as Seller, 

ARCH CHEMICALS, INC., as initial Servicer, 
 MARKET STREET FUNDING LLC 
 and 

PNC BANK, NATIONAL ASSOCIATION, as Administrator and as LC Bank 

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
	 Article I Purchase Arrangements
	  	 	2	  
	 Section 1.1
	  	Purchase Facility	  	 	2	  
	 Section 1.2
	  	Incremental Purchases	  	 	4	  
	 Section 1.3
	  	Decreases	  	 	5	  
	 Section 1.4
	  	Deemed Collections	  	 	5	  
	 Section 1.5
	  	Payment Requirements and Computations	  	 	6	  
	 Section 1.6
	  	Letters of Credit	  	 	6	  
	 Section 1.7
	  	Issuance of Letters of Credit	  	 	6	  
	 Section 1.8
	  	Requirements For Issuance of Letters of Credit	  	 	7	  
	 Section 1.9
	  	Disbursements, Reimbursement	  	 	7	  
	 Section 1.10
	  	Documentation	  	 	7	  
	 Section 1.11
	  	Determination to Honor Drawing Request	  	 	8	  
	 Section 1.12
	  	Nature of Reimbursement Obligations	  	 	8	  
	 Section 1.13
	  	Indemnity	  	 	9	  
	 Section 1.14
	  	Liability for Acts and Omissions	  	 	10	  
	 Article II Payments and Collections
	  	 	11	  
	 Section 2.1
	  	Payments of Recourse Obligations	  	 	11	  
	 Section 2.2
	  	Collections Prior to the Facility Termination Date	  	 	12	  
	 Section 2.3
	  	Application of Collections After the Facility Termination Date	  	 	13	  
	 Section 2.4
	  	Payment Rescission	  	 	13	  
	 Section 2.5
	  	Clean Up Call; Reconveyance of Purchased Assets	  	 	14	  
	 Article III Commercial Paper Funding
	  	 	14	  
	 Section 3.1
	  	CP Costs	  	 	14	  
	 Section 3.2
	  	Calculation of CP Costs	  	 	14	  
	 Section 3.3
	  	CP Costs Payments	  	 	15	  
	 Section 3.4
	  	Default Rate	  	 	15	  
	 Article IV Liquidity Fundings
	  	 	15	  
	 Section 4.1
	  	Liquidity Fundings	  	 	15	  
	 Section 4.2
	  	Yield Payments	  	 	15	  
	 Section 4.3
	  	Selection and Continuation of Interest Periods	  	 	15	  
	 Section 4.4
	  	Liquidity Funding Yield Rates	  	 	16	  
	 Section 4.5
	  	Suspension of the LIBO Rate	  	 	16	  
	 Section 4.6
	  	Default Rate	  	 	17	  
	 Article V Representations and Warranties
	  	 	17	  
	 Section 5.1
	  	Representations and Warranties of the Seller Parties	  	 	17	  
	 Article VI Conditions of Purchases
	  	 	22	  
	 Section 6.1
	  	Conditions Precedent to Initial Incremental Purchase	  	 	22	  
	 Section 6.2
	  	Conditions Precedent to All Purchases and Reinvestments	  	 	22	  
	 Article VII Covenants
	  	 	23	  
	 Section 7.1
	  	Affirmative Covenants of the Seller Parties	  	 	23	  
	 Section 7.2
	  	Negative Covenants of the Seller Parties	  	 	31	  
	 Article VIII Administration and Collection
	  	 	34	  

  
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	 Section 8.1
	  	Designation of Servicer	  	 	34	  
	 Section 8.2`
	  	Duties of Servicer	  	 	35	  
	 Section 8.3
	  	Collection Notices	  	 	36	  
	 Section 8.4
	  	Responsibilities of the Seller	  	 	37	  
	 Section 8.5
	  	Receivables Reports	  	 	37	  
	 Section 8.6
	  	Servicing Fee	  	 	37	  
	 Article IX Amortization Events
	  	 	37	  
	 Section 9.1
	  	Amortization Events	  	 	37	  
	 Section 9.2
	  	Remedies	  	 	40	  
	 Article X Indemnification
	  	 	41	  
	 Section 10.1
	  	Indemnities by the Seller Parties	  	 	41	  
	 Section 10.2
	  	Increased Cost and Reduced Return	  	 	44	  
	 Section 10.3
	  	Other Costs and Expenses	  	 	45	  
	 Section 10.4
	  	Allocations	  	 	45	  
	 Article XI The Administrator
	  	 	45	  
	 Section 11.1
	  	Authorization and Action	  	 	45	  
	 Section 11.2
	  	PNC and Affiliates	  	 	46	  
	 Article XII Assignments and Participations
	  	 	46	  
	 Section 12.1
	  	Assignments and Participations by Market Street and the LC Bank	  	 	46	  
	 Section 12.2
	  	Prohibition on Assignments by the Seller Parties	  	 	47	  
	 Article XIII Miscellaneous
	  	 	47	  
	 Section 13.1
	  	Waivers and Amendments	  	 	47	  
	 Section 13.2
	  	Notices	  	 	47	  
	 Section 13.3
	  	Protection of Administrator’s Security Interest	  	 	47	  
	 Section 13.4
	  	Confidentiality	  	 	49	  
	 Section 13.5
	  	Bankruptcy Petition	  	 	50	  
	 Section 13.6
	  	Limitation of Liability	  	 	50	  
	 Section 13.7
	  	No Recourse Against Market Street	  	 	51	  
	 Section 13.8
	  	Limitation on Payments	  	 	51	  
	 Section 13.9
	  	CHOICE OF LAW	  	 	51	  
	 Section 13.10
	  	CONSENT TO JURISDICTION	  	 	51	  
	 Section 13.11
	  	WAIVER OF JURY TRIAL	  	 	52	  
	 Section 13.12
	  	Integration; Binding Effect; Survival of Terms	  	 	52	  
	 Section 13.13
	  	Counterparts; Severability; Section References	  	 	53	  
	 Section 13.14
	  	Characterization	  	 	53	  

  
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 Exhibits 
  

			
	 Exhibit I
	  	Definitions
		
	 Exhibit II
	  	Form of Purchase Notice
		
	 Exhibit III
	  	Jurisdiction of Organization of the Seller Parties; Places of Business of the Seller Parties; Locations of Records; Federal Employer Identification Number(s)
		
	 Exhibit IV
	  	Names of Collection Banks; Lock-Boxes and Collection Accounts
		
	 Exhibit V
	  	Form of Compliance Certificate
		
	 Exhibit VI
	  	Form of Letter of Credit Application
		
	 Exhibit VII
	  	Credit and Collection Policy
		
	 Exhibit VIII
	  	Form of Monthly Report
		
	 Exhibit IX
	  	Form of Collateral Certificate
		
	 Exhibit X
	  	Form of Reduction Notice

 Schedules 

 

			
	 Schedule A
	  	Documents to be Delivered to the Administrator on or Prior to the Initial Purchase

  
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 AMENDED AND RESTATED 

RECEIVABLES PURCHASE AGREEMENT 
 THIS AMENDED AND RESTATED RECEIVABLES PURCHASE AGREEMENT, dated as of October 6, 2009, is entered into by and among: 
 (a) Arch Chemicals Receivables Corp., a Delaware corporation (the “Seller”), 
 (b) Arch Chemicals, Inc., a Virginia corporation (“Arch” or the “Servicer”), as initial Servicer (the Servicer together with the Seller, the
“Seller Parties” and each, a “Seller Party”), 
 (c) Market Street Funding LLC,
a Delaware limited liability company (“Market Street”), and 
 (d) PNC Bank, National Association, a
national banking association (“PNC”), as agent and administrator for Market Street and its assigns under the Transaction Documents (together with its successors and assigns in such capacity, the
“Administrator”) and as issuer of Letters of Credit (in such capacity, together with its successors and assigns in such capacity, the “LC Bank”). 

Unless defined elsewhere herein, capitalized terms used in this Agreement shall have the meanings assigned to such terms in Exhibit
I. 
 PRELIMINARY STATEMENTS 
 The Seller, the Servicer, Three Pillars Funding LLC (“TPF”) and SunTrust Robinson Humphrey, Inc (f/k/a SunTrust Capital Markets, as administrator “STRH”) are parties to
that certain Receivables Purchase Agreement dated as of June 27, 2005, as amended, supplemented or otherwise modified through the date hereof (the “Existing Agreement”). 

The Seller has transferred and assigned Receivables Interest to TPF and TPF has purchased Receivables Interest from the Seller pursuant
to and in accordance with the Existing Agreement. 
 In connection with the Agreement TPF assigned all of its right, title and
interest and obligations in the Receivables Interest, the Existing Agreement and all other Transaction Documents as defined in the Existing Agreement) to Market Street as of the Closing Date, pursuant to the Assignment and Assumption Agreement,
dated as of the date hereof among the Seller, the Servicer, TPF, STRH, Market Street, the Administrator and the Originators. 

The parties hereto wish to amend and restate the Exiting Agreement on the terms set forth herein. 

The Seller (a) desires to transfer and assign Receivables from time to time and (b) may, subject to the terms and conditions
hereof, request that the LC Bank issue or cause the issuance of Letters of Credit. 

 Market Street shall purchase Receivable from the Seller from time to time either by issuing
its Commercial Paper or by availing itself of a Liquidity Funding to the extent available and the LC Bank shall issue Letters of Credit to the extent available. 
 PNC has been requested and is willing to act as agent and administrator on behalf of Market Street and the LC bank and their respective assigns in accordance with the terms hereof. 

Article I 

Purchase Arrangements 
 Section 1.1 Purchase Facility. 
 (a) Upon the
terms and subject to the conditions of this Agreement (including, without limitation, Article VI), from time to time prior to the Facility Termination Date, the Seller may request that (i) Market Street purchase from the Seller all of
the Seller’s right, title and interest in the Purchased Assets, and Market Street shall make such Purchase and/or (ii) the LC Bank issue Letters of Credit; provided that no Purchase (including without limitation, any deemed
Purchase by Market Street pursuant to the terms of Section 1.1(d)) or issuance of Letters of Credit, as applicable shall be made by Market Street or the LC Bank, respectively, if, after giving effect thereto, the (i) aggregate
outstanding Invested Amount funded by Market Street or the LC Bank, as applicable, shall exceed (A) the Commitment of Market Street or the LC Bank, as applicable, as the same may be reduced from time to time pursuant to
Section 1.1(b), minus (B) in the case of the LC Bank, the face amount of any outstanding Letters of Credit or (ii) the Aggregate Invested Amount would exceed the Purchase Limit or (iii) the Asset Coverage Ratio would
be less than 1.0. It is the intent of Market Street to fund the Purchases by the issuance of Commercial Paper. If for any reason Market Street is unable, or determines that it is undesirable, to issue Commercial Paper to fund or maintain its
investment in the Purchase Assets, or is unable for any reason to repay such Commercial Paper upon the maturity thereof, Market Street will avail itself of a Liquidity Funding to the extent available. If Market Street funds or refinances its
investment in a Purchased Asset through a Liquidity Funding, in lieu of paying CP Costs on the Invested Amount pursuant to Article III hereof, the Seller will pay Yield thereon at the Alternate Base Rate or the LIBO Rate, selected in
accordance with Article IV hereof. Nothing herein shall be deemed to constitute a commitment of Market Street to issue Commercial Paper. 
 (b) The Seller may, upon at least ten (10) Business Days’ notice to the Administrator, terminate in whole or reduce in part, the unused portion of the Purchase Limit; provided that
each partial reduction of the Purchase Limit shall be in an amount equal to $5,000,000 (or a larger integral multiple of $1,000,000 if in excess thereof). Each such partial reduction shall automatically and ratably reduce the Commitments of Market
Street and the LC Bank to make Purchases or issuances, as applicable. The Administrator shall promptly advise Market Street and the LC Bank of any notice received by it pursuant to this Section 1.1(b); it being understood that (in
addition to and without limiting any other requirements for termination, prepayment and/or the funding 

  
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of the LC Collateral Account hereunder) no such termination or reduction shall be effective unless and until (i) in the case of a termination, the amount on deposit in the LC Collateral
Account is at least equal to the then outstanding LC Amount and (ii) in the case of a partial reduction, the amount on deposit in the LC Collateral Account is at least equal to the difference between the then outstanding LC Amount and the
Commitment of the LC Bank as so reduced by such partial reduction. 
 (c) The Administrator hereby represents
that (i) pursuant to the Liquidity Agreement, Market Street has obtained a Liquidity Commitment from PNC and its assigns for an initial period of 364 days in an amount equal to 102% of the greater of (A) the Purchase Limit from time to
time in effect hereunder, and (B) the Aggregate Invested Amount outstanding from time to time hereunder, and (ii) while PNC may not be obligated to pay par for a Purchased Asset that is transferred to it pursuant to the Liquidity
Agreement, the only condition precedent to its obligation to pay the agreed-upon price thereunder is the absence of an Event of Bankruptcy with respect to Market Street. 

(d) The Seller may, subject to this Section 1.1 and the other requirements and conditions herein, use the
proceeds of any Purchase by Market Street hereunder to satisfy its Reimbursement Obligations to the LC Bank (based on the outstanding amounts funded by the LC Bank) pursuant to Section 1.9 below. In addition, in the event the Seller
fails to reimburse the LC Bank for the full amount of any drawing under any Letter of Credit on the applicable Drawing Date (out of its own funds available therefor, or otherwise, at such time), pursuant to Section 1.9 below, then
the Seller shall, automatically (and without the requirement of any further action on the part of any Person hereunder), be deemed to have requested a new Incremental Purchase from Market Street on such date, pursuant to the terms hereof, in an
amount equal to the amount of such Reimbursement Obligation at such time. Subject to the limitations on funding set forth in paragraph (a) above (and the other requirements and conditions herein), Market Street shall fund such deemed
Incremental Purchase request and deliver the proceeds thereof directly to the Administrator to be immediately distributed to the LC Bank in satisfaction of the Seller’s Reimbursement Obligation pursuant to Section 1.9. below,
to the extent of the amounts permitted to be funded by Market Street, at such time, hereunder. 
 (e) In
consideration for the payment by Market Street of the Cash Purchase Price set forth in the Purchase Notice on the date of the initial Purchase hereunder and Market Street’s agreement to make payments to the Seller from time to time in
accordance with Sections 2.2 and 2.3 effective upon the Seller’s receipt of such Cash Purchase Price on the date of the initial Purchase hereunder, the Seller hereby sells, conveys and assigns to Market Street all of the
Seller’s right, title and interest in and to the Purchased Assets existing on the date hereof or thereafter arising or acquired by the Seller from time to time prior to the Facility Termination Date. Subject to the terms and conditions hereof,
Market Street hereby purchases and accepts from the Seller the Purchased Assets sold, conveyed and assigned pursuant to Section 1.1(e). The Purchase Price shall consist of the sum of (a) the Cash Purchase Price and (b) the
Deferred Purchase Price. The Cash Purchase Price shall be paid pursuant to the terms of Section 1.2 and the Deferred Purchase Price shall be paid pursuant to the terms of clause seventh

  
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of Sections 2.2(b) and 2.3. The foregoing sale, conveyance and assignment does not constitute and is not intended to result in the creation or an assumption by Market Street, any
Liquidity Bank or the LC Bank of any obligation of the Seller, any Originator, the Servicer or any other Person under or in connection with the Purchased Assets, all of which shall remain the obligations and liabilities of the Seller, such
Originator, the Servicer and/or such Person. For the avoidance of doubt there shall be no recourse to Market Street, a Liquidity Bank or the LC Bank for payment of the Deferred Purchase Price other than pursuant to the terms of clause
seventh of Sections 2.2(b) and 2.3 and the obligation to pay such Deferred Purchase Price shall be subject to the terms of Section 13.8. 

Section 1.2 Incremental Purchases. 

(a) The Seller shall provide the Administrator with at least two (2) Business Days’ prior written notice in a
form set forth as Exhibit II hereto of each Incremental Purchase (each, a “Purchase Notice”). Each Purchase Notice shall be subject to Section 6.2 hereof and, except as set forth below, shall be irrevocable and
shall specify the requested Cash Purchase Price (which shall not be less than $1,000,000 or a larger integral multiple of $100,000) and the Purchase Date. Following receipt of a Purchase Notice, the Administrator will determine whether Market Street
will fund the requested Incremental Purchase through the issuance of Commercial Paper or through a Liquidity Funding. If Market Street determines to fund an Incremental Purchase through a Liquidity Funding, the Seller may cancel the Purchase Notice
or, in the absence of such a cancellation, the Incremental Purchase will be funded through a Liquidity Funding. On each Purchase Date, upon satisfaction of the applicable conditions precedent set forth in Article VI, Market Street shall
deposit to the Facility Account, in immediately available funds, no later than 2:00 p.m. (New York City time), an amount equal to the requested Cash Purchase Price. 

(b) Whenever the LC Bank issues a Letter of Credit pursuant to Section 1.7 hereof, it shall,
automatically and without further action of any kind upon the effective date of issuance of such Letter of Credit, have irrevocably deemed to have agreed to make an Incremental Purchase as provided in Section 1.9 hereof in the event that
such Letter of Credit is subsequently drawn and such drawn amount shall not have been reimbursed pursuant to Section 1.9 upon such draw. All such Incremental Purchases shall accrue Yield at the LIBO Rate or Alternate Base Rate in the
sole discretion of the LC Bank from the date of such draw; provided, however, from and after the occurrence of an Amortization Event such Incremental Purchase shall accrue Yield at the Default Rate. In the event that any Letter of
Credit expires or is surrendered without being drawn (in whole or in part) then, in such event, the foregoing commitment to make Incremental Purchases shall expire with respect to such Letter of Credit and the LC Amount shall automatically decrease
by the amount of the Letter of Credit which is no longer outstanding. 

  
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 Section 1.3 Decreases. 

The Seller shall provide the Administrator with prior written notice in conformity with the Required Notice Period in the form of
Exhibit X hereto (a “Reduction Notice”) of any proposed reduction of Aggregate Invested Amount. Such Reduction Notice shall designate (a) the date (the “Proposed Reduction Date”) upon which any such
reduction of Aggregate Invested Amount shall occur (which date shall give effect to the applicable Required Notice Period), and (b) the amount of Aggregate Invested Amount to be reduced which shall be applied ratably to all Purchased Assets in
accordance with the respective Invested Amounts thereof (the “Aggregate Reduction”). Only one (1) Reduction Notice shall be outstanding at any time. 
 Section 1.4 Deemed Collections. 
 If on any day: 

(i) the Outstanding Balance of any Receivable is reduced or cancelled as a result of any defective or rejected goods or
services, any cash discount or any other adjustment by any Originator or any Affiliate thereof, or as a result of any governmental or regulatory action, or 
 (ii) the Outstanding Balance of any Receivable is reduced or canceled as a result of a setoff in respect of any claim by the Obligor thereof (whether such claim arises out of the same or a related or an
unrelated transaction), or 
 (iii) the Outstanding Balance of any Receivable is reduced on account of the
obligation of any Originator or any Affiliate thereof to pay to the related Obligor any rebate or refund, or 

(iv) the Outstanding Balance of any Receivable is less than the amount included in calculating the Net Pool Balance for
purposes of any Monthly Report or Collateral Certificate (for any reason other than receipt of Collections or such Receivable becoming a Defaulted Receivable), or 

(v) any of the representations or warranties of the Seller set forth in Section 5.1(g),
Section 5.1(i), Section 5.1(j), Section 5.1(r), Section 5.1(s), Section 5.1(t) or Section 5.1(u) were not true when made with respect to any Receivable, 

then, on such day, the Seller shall be deemed to have received a Collection of such Receivable (A) in the case of clauses
(i)-(iv) above, in the amount of such reduction or cancellation or the difference between the actual Outstanding Balance and the amount included in calculating such Net Pool Balance, as applicable; and (B) in the case of clause
(v) above, in the amount of the Outstanding Balance of such Receivable and (in either case), not later than two (2) Business Days thereafter shall pay to the Administrator’s Account the amount of any such Collection deemed to have
been received in the same manner as actual cash collections are distributed under the terms of this Agreement. 

  
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 Section 1.5 Payment Requirements and Computations. 

All amounts to be paid or deposited by a Seller Party pursuant to any provision of this Agreement shall be paid or deposited in accordance
with the terms hereof no later than 12:00 noon (New York City time) on the day when due in immediately available funds, and if not received before 12:00 noon (New York City time) shall be deemed to be received on the next succeeding
Business Day. If such amounts are payable to the Administrator for the account of Market Street, they shall be paid to the Administrator’s Account, for the account of Market Street until otherwise notified by the Administrator. Upon notice to
the Seller, the Administrator may debit the Facility Account for all amounts due and payable hereunder. All computations of Yield which accrues at the Alternate Base Rate shall be made on the basis of a year of 365 or 366 days, as applicable, for
the actual number of days elapsed. All computations of CP Costs, Yield (other than Yield which accrues at the Alternate Base Rate), per annum fees calculated as part of any CP Costs, per annum fees hereunder and per annum fees under the Fee Letter
shall be made on the basis of a year of 360 days for the actual number of days elapsed. If any amount hereunder shall be payable on a day which is not a Business Day, such amount shall be payable on the next succeeding Business Day. 

Section 1.6 Letters of Credit. 
 Subject to the terms and conditions hereof, the LC Bank shall issue or cause the issuance of Letters of Credit (“Letters of Credit”) on behalf of Seller (and, if applicable, on
behalf of, or for the account of, the Originators); provided, however, that the LC Bank will not be required to issue or cause to be issued any Letters of Credit to the extent that the issuance of such Letters of Credit would then
cause the Aggregate Invested Amount to exceed the Purchase Limit. The LC Amount shall not exceed in the aggregate, at any time, the Commitment of the LC Bank. All amounts drawn upon Letters of Credit shall accrue Yield at the LIBO Rate or in the
sole discretion of the LC Bank at the Alternate Base Rate; provided, however, that from and after the occurrence of an Amortization Event, all such drawn amounts shall accrue Yield at the Default Rate. Letters of Credit that have not
been drawn upon shall not accrue Yield. 
 Section 1.7 Issuance of Letters of Credit. 

(a) The Seller may request the LC Bank, upon two (2) Business Days’ prior written notice pursuant to the
Purchase Notice substantially in the form of Exhibit II attached hereto submitted on or before 11:00 a.m., New York time, to issue a Letter of Credit by delivering to the Administrator, the LC Bank’s form of Letter of Credit
Application (the “Letter of Credit Application”), substantially in the form of Exhibit VI attached hereto completed to the satisfaction of the Administrator and the LC Bank; and, such other certificates, documents and
other papers and information as the Administrator may reasonably request. The Seller also has the right to give instructions and make agreements with respect to any Letter of Credit Application and the disposition of documents, and to agree with the
Administrator upon any amendment, extension or renewal of any Letter of Credit. 
 (b) Each Letter of Credit
shall, among other things, (i) provide for the payment of sight drafts or other written demands for payment when presented for honor thereunder in accordance with the terms thereof and when accompanied by the documents described therein and
(ii) have an expiry date not later than twelve (12)

  
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months after such Letter of Credit’s date of issuance, extension or renewal, as the case may be, and in no event later than twelve (12) months after the Facility Termination Date. Each
Letter of Credit shall be subject either to the Uniform Customs and Practice for Documentary Credits (2007 Revision), International Chamber of Commerce Publication No. 600, and any amendments or revisions thereof adhered to by the LC Bank
(“UCP600”), or the International Standby Practices (ISP98), International Chamber of Commerce Publication Number 590, and any amendments or revisions thereof adhered to by the LC Bank (the “ISP98 Rules”), as
determined by the LC Bank. 
 (c) The Administrator shall promptly notify the LC Bank, at its address
for notices hereunder, of the request by the Seller for a Letter of Credit hereunder, and shall provide the LC Bank with the Letter of Credit Application delivered to the Administrator by the Seller pursuant to paragraph (a), above, by the
close of business on the day received or if received on a day that is not a Business Day or on any Business Day after 11:00 a.m., New York time, on such day, on the next Business Day. 

Section 1.8 Requirements For Issuance of Letters of Credit. 

The Seller shall authorize and direct the LC Bank to name the Seller or the Seller, on behalf of, or “for the benefit of”
any Originator as the “Applicant” or “Account Party” of each Letter of Credit, provided, in no event shall any Person (including any Originator) other than the Seller have any obligation to reimburse the LC Bank under the
terms of any Letter of Credit. 
 Section 1.9 Disbursements, Reimbursement. 

In the event of any request for a drawing under a Letter of Credit by the beneficiary or transferee thereof, the LC Bank will
promptly notify the Administrator and the Seller of such request. Provided that it shall have received such notice, the Seller shall reimburse (such obligation to reimburse the LC Bank shall sometimes be referred to as a “Reimbursement
Obligation”) the LC Bank prior to 12:00 p.m., New York time, on each date that an amount is paid by the LC Bank under any Letter of Credit (each such date, a “Drawing Date”) in an amount equal to the amount so
paid by the LC Bank. In the event the Seller fails to reimburse the LC Bank for the full amount of any drawing under any Letter of Credit by 12:00 p.m., New York time, on the Drawing Date, the Seller shall be deemed to have requested that
an Incremental Purchase be made by the LC Bank to be disbursed on the Drawing Date under such Letter of Credit, subject to the limitations set forth herein, including but not limited to Section 1.1(a). Any notice given by the
LC Bank pursuant to this Section may be oral if immediately confirmed in writing; provided, however, that the lack of any such written confirmation shall not affect the conclusiveness or binding effect of such notice.

 Section 1.10 Documentation. 
 The Seller and the Originators agree to be bound by (a) the terms of the Letter of Credit Application, (b) the LC Bank’s interpretations of any Letter of Credit issued on behalf of
Seller or an Originator and (c) the LC Bank’s written regulations and customary practices relating to letters of credit, though the LC Bank’s interpretation of such regulations and practices may be different from the
Seller’s own. In the event of a conflict between the Letter of Credit 

  
 7 

 
Application and this Agreement, this Agreement shall govern. It is understood and agreed that, except in the case of gross negligence or willful misconduct by the LC Bank, the LC Bank
shall not be liable for any error, negligence and/or mistakes, whether of omission or commission, in following the Seller’s instructions or those contained in the Letters of Credit or any modifications, amendments or supplements thereto.

 Section 1.11 Determination to Honor Drawing Request. 

In determining whether to honor any request for drawing under any Letter of Credit by the beneficiary thereof, the LC Bank shall be
responsible only to determine that the documents and certificates required to be delivered under such Letter of Credit have been delivered and that they comply on their face with the requirements of such Letter of Credit and that any other drawing
condition appearing on the face of such Letter of Credit has been satisfied in the manner so set forth. 
 Section 1.12
Nature of Reimbursement Obligations. 
 The obligations of the Seller to reimburse the LC Bank upon a draw under
a Letter of Credit which has been honored by the LC Bank, shall be absolute, unconditional and irrevocable, and shall be performed strictly in accordance with the terms of this Agreement under all circumstances, including under the following
circumstances: 
 (i) any set-off, counterclaim, recoupment, defense or other right which the Seller may have
against Administrator, Market Street or any other Person for any reason whatsoever or any claim of breach of warranty that might be made by the Seller or the LC Bank against the beneficiary of a Letter of Credit, or the existence of any claim,
set-off, defense or other right which the Seller or the LC Bank may have at any time against a beneficiary, any successor beneficiary or any transferee of any Letter of Credit or the proceeds thereof (or any Persons for whom any such transferee
may be acting), the Administrator, Market Street, the Seller or any other Person, whether in connection with this Agreement, the transactions contemplated herein or any unrelated transaction (including any underlying transaction between the Seller
or any Subsidiaries of the Seller or any Affiliates of the Seller and the beneficiary for which any Letter of Credit was procured); 
 (ii) the failure of the Seller or any other Person to comply with the conditions set forth in this Agreement for the making of an Incremental Purchase, Reinvestments, requests for Letters of Credit or
otherwise; 
 (iii) any lack of validity or enforceability of any Letter of Credit; 

(iv) the lack of power or authority of any signer of, or lack of validity, sufficiency, accuracy, enforceability or
genuineness of, any draft, demand, instrument, certificate or other document presented under any Letter of Credit, or any such draft, demand, instrument, certificate or other document proving to be forged, fraudulent, invalid, defective or
insufficient in any respect or any statement therein being untrue or inaccurate in any respect, even if the Administrator or the LC Bank has been notified thereof; 

  
 8 

 (v) payment by the LC Bank under any Letter of Credit against
presentation of a demand, draft or certificate or other document which does not comply with the terms of such Letter of Credit other than as a result of the gross negligence or willful misconduct of the LC Bank; 

(vi) the solvency of, or any acts or omissions by, any beneficiary of any Letter of Credit, or any other Person having a
role in any transaction or obligation relating to a Letter of Credit, or the existence, nature, quality, quantity, condition, value or other characteristic of any property or services relating to a Letter of Credit; 

(vii) any failure by the LC Bank or any of the LC Bank’s Affiliates to issue any Letter of Credit in the
form requested by the Seller, unless the LC Bank has received written notice from the Seller of such failure within three Business Days after the LC Bank shall have furnished the Seller a copy of such Letter of Credit and such error is
material and no drawing has been made thereon prior to receipt of such notice; 
 (viii) any Material Adverse
Effect on the Seller, any Originator or any Affiliates thereof; 
 (ix) any breach of this Agreement or any
Transaction Document by any party thereto; 
 (x) the occurrence or continuance of an Event of Bankruptcy with
respect to the Seller, any Originator or any Affiliate thereof; 
 (xi) the fact that an Amortization Event or an
Unmatured Amortization Event shall have occurred and be continuing; 
 (xii) the fact that this Agreement or the
obligations of Seller or Servicer hereunder shall have been terminated; and 
 (xiii) any other circumstance or
happening whatsoever, whether or not similar to any of the foregoing. 
 Section 1.13 Indemnity. 

In addition to other amounts payable hereunder, the Seller hereby agrees to protect, indemnify, pay and save harmless the Administrator,
the LC Bank and any of the LC Bank’s Affiliates that have issued a Letter of Credit from and against any and all claims, demands, liabilities, damages, taxes, penalties, interest, judgments, losses, costs, charges and expenses
(including reasonable fees and expenses of legal counsel to the LC Bank) which the Administrator, the LC Bank or any of their respective Affiliates may incur or be subject to as a consequence, direct or indirect, of the issuance of any Letter
of Credit, except to the extent 

  
 9 

 
resulting from (a) the gross negligence or willful misconduct of the party to be indemnified as determined by a final judgment of a court of competent jurisdiction or (b) the wrongful
dishonor by the LC Bank of a proper demand for payment made under any Letter of Credit, except if such dishonor resulted from any act or omission, whether rightful or wrongful, of any present or future de jure or de facto Governmental Authority
(all such acts or omissions herein called “Governmental Acts”). 
 Section 1.14 Liability for Acts
and Omissions. 
 As between the Seller, on the one hand, and the Administrator, the LC Bank and Market Street, on
the other, the Seller assumes all risks of the acts and omissions of, or misuse of the Letters of Credit by, the respective beneficiaries of such Letters of Credit. In furtherance and not in limitation of the respective foregoing, none of the
Administrator, the LC Bank or Market Street shall be responsible for: (a) the form, validity, sufficiency, accuracy, genuineness or legal effect of any document submitted by any party in connection with the application for an issuance of
any such Letter of Credit, even if it should in fact prove to be in any or all respects invalid, insufficient, inaccurate, fraudulent or forged (even if the LC Bank shall have been notified thereof); (b) the validity or sufficiency of any
instrument transferring or assigning or purporting to transfer or assign any such Letter of Credit or the rights or benefits thereunder or proceeds thereof, in whole or in part, which may prove to be invalid or ineffective for any reason;
(c) the failure of the beneficiary of any such Letter of Credit, or any other party to which such Letter of Credit may be transferred, to comply fully with any conditions required in order to draw upon such Letter of Credit or any other claim
of the Seller against any beneficiary of such Letter of Credit, or any such transferee, or any dispute between or among the Seller and any beneficiary of any Letter of Credit or any such transferee; (d) errors, omissions, interruptions or
delays in transmission or delivery of any messages, by mail, cable, telegraph, telex or otherwise, whether or not they be in cipher; (e) errors in interpretation of technical terms; (f) any loss or delay in the transmission or otherwise of
any document required in order to make a drawing under any such Letter of Credit or of the proceeds thereof; (g) the misapplication by the beneficiary of any such Letter of Credit of the proceeds of any drawing under such Letter of Credit; or
(h) any consequences arising from causes beyond the control of the Administrator, the LC Bank and Market Street, including any Governmental Acts, and none of the above shall affect or impair, or prevent the vesting of, any of the
LC Bank’s rights or powers hereunder. Nothing in the preceding sentence shall relieve the LC Bank from liability for its gross negligence or willful misconduct, as determined by a final non-appealable judgment of a court of competent
jurisdiction, in connection with actions or omissions described in such clauses (a) through (h) of such sentence. In no event shall the Administrator, the LC Bank, Market Street or their respective Affiliates, be liable to the Seller
or any other Person for any indirect, consequential, incidental, punitive, exemplary or special damages or expenses (including without limitation reasonable fees and expenses of legal counsel to the LC Bank), or for any damages resulting from any
change in the value of any property relating to a Letter of Credit. 
 Without limiting the generality of the foregoing, the
Administrator, the LC Bank, and Market Street and each of their respective Affiliates (a) may rely on any written communication believed in good faith by such Person to have been authorized or given by or on behalf of the applicant for a
Letter of Credit; (b) may honor any presentation if the documents presented appear on their face to comply with the terms and conditions of the relevant Letter of Credit; 

  
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(c) may honor a previously dishonored presentation under a Letter of Credit, whether such dishonor was pursuant to a court order, to settle or compromise any claim of wrongful dishonor, or
otherwise, and shall be entitled to reimbursement to the same extent as if such presentation had initially been honored, together with any interest paid by the LC Bank or its Affiliates; (d) may honor any drawing that is payable upon
presentation of a statement advising negotiation or payment, upon receipt of such statement (even if such statement indicates that a draft or other document is being delivered separately), and shall not be liable for any failure of any such draft or
other document to arrive, or to conform in any way with the relevant Letter of Credit; (e) may pay any paying or negotiating bank claiming that it rightfully honored under the laws or practices of the place where such bank is located; and
(f) may settle or adjust any claim or demand made on the Administrator, the LC Bank, Market Street or their respective Affiliates, in any way related to any order issued at the applicant’s request to an air carrier, a letter of
guarantee or of indemnity issued to a carrier or any similar document (each an “Order”) and honor any drawing in connection with any Letter of Credit that is the subject of such Order, notwithstanding that any drafts or other
documents presented in connection with such Letter of Credit fail to conform in any way with such Letter of Credit. 
 In
furtherance and extension and not in limitation of the specific provisions set forth above, any action taken or omitted by the LC Bank under or in connection with the Letters of Credit issued by it or any documents and certificates delivered
thereunder, if taken or omitted in good faith and without gross negligence or willful misconduct, as determined by a final nonappealable judgment of a court of competent jurisdiction, shall not put the LC Bank under any resulting liability to
the Seller or any other Person. 
 Article II 
 Payments and Collections 
 Section 2.1 Payments of Recourse
Obligations. 
 The Seller hereby promises to pay the following (collectively, the “Recourse
Obligations”): 
 (a) all amounts due and owing under Section 1.3 or
Section 1.4 or in order to avoid an Amortization Event under Section 9.1(m) or 9.1(q) on the dates specified therein; 
 (b) the fees set forth in the Fee Letter on the dates specified therein; 
 (c) all accrued and unpaid Yield on the Aggregate Invested Amount and drawings under a Letter of Credit accruing Yield at the Alternate Base Rate or the Default Rate on each Settlement Date applicable
thereto; 
 (d) all accrued and unpaid Yield on the Aggregate Invested Amount and drawings under a Letter of
Credit accruing Yield at the LIBO Rate on the last day of each Interest Period applicable thereto; 

  
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 (e) all accrued and unpaid CP Costs on the Aggregated Invested Amount funded
with Commercial Paper on each Settlement Date; and 
 (f) all Broken Funding Costs, Reimbursement Obligations and
Indemnified Amounts upon demand. 
 Section 2.2 Collections Prior to the Facility Termination Date.

 (a) Prior to the Facility Termination Date, any Deemed Collections received by the Servicer and any
Collections received by the Servicer shall be set aside and held in trust by the Servicer for the payment of any accrued and unpaid Aggregate Unpaids or for a Reinvestment as provided in this Section 2.2. If at any time any Collections
are received by the Servicer prior to the Facility Termination Date, the Seller hereby requests and Market Street hereby agrees to make, simultaneously with such receipt, a reinvestment by payment of the Purchase Price under the Receivables Sale
Agreement (each, a “Reinvestment”) with the balance of each and every Collection received by the Servicer such that after giving effect to such Reinvestment, the Invested Amount of each Purchased Asset immediately after such
receipt and corresponding Reinvestment shall be equal to the amount of Invested Amount immediately prior to such receipt. 
 (b) On each day on which any of the conditions precedent set forth in Section 6.2 are not satisfied and on each Settlement Date prior to the Facility Termination Date, the Servicer shall remit
to the Administrator’s Account the amounts set aside during the preceding Settlement Period that have not been subject to a Reinvestment and apply such amounts (if not previously paid in accordance with Section 2.1) to the Aggregate
Unpaids in the order specified: 
 first, ratably to the payment of all accrued and unpaid CP Costs, Yield
and Broken Funding Costs (if any) that are then due and owing, 
 second, to the accrued and unpaid
Servicing Fee, 
 third, ratably to the payment of all accrued and unpaid fees under the Fee Letter (if
any) that are then due and owing, 
 fourth, if required under Section 1.3 or
Section 1.4 or in order to avoid an Amortization Event or Unmatured Amortization Event under Section 9.1(m) or Section 9.1(q), to the ratable reduction of Aggregate Invested Amount, 

fifth, if the Asset Coverage Ratio is less than 1.0 and any Letters of Credit are outstanding, an amount necessary
to cash collateralize the LC Amount until the amount of cash collateral held in the LC Collateral Account equals an amount necessary to make the Asset Coverage Ratio not less than 1.0, 

sixth, for the ratable payment of all other unpaid Recourse Obligations, if any, that are then due and owing, and

 seventh, the balance, if any, to the Seller in payment of the Deferred Purchase Price. 

  
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 (c) Prior to the Facility Termination Date, any Deemed Collections or
Collections received by the Servicer in excess of items first through seventh of Section 2.2(b) above shall be paid to the Seller. 
 (d) In the event that a Collection Notice has been delivered pursuant to any Collection Account Agreement, all amounts received in any Collection Account shall at the sole discretion of the Administrator,
either (i) be retained in such Collection Account or other account of the Administrator for such day, Settlement Period or part thereof and applied on the Settlement Date in accordance with the terms of this Agreement or (ii) be released
to the Seller and applied in accordance with the terms of this Agreement. 
 Section 2.3 Application of Collections
After the Facility Termination Date. 
 On the Facility Termination Date and on each day thereafter, the
Servicer shall set aside and hold in trust, for the benefit of the Secured Parties, all Collections received on each such day. On and after the Facility Termination Date, the Servicer shall, on each Settlement Date and on each other Business Day
specified by the Administrator: (a) remit to the Administrator’s Account the amounts set aside pursuant to the preceding sentence, and (b) apply such amounts to reduce the Aggregate Unpaids as follows: 

first, to the reimbursement of the Administrator’s costs of collection and enforcement of this Agreement,

 second, ratably to the payment of all accrued and unpaid CP Costs, Yield and Broken Funding Costs,

 third, to the accrued and unpaid Servicing Fee, 

fourth, ratably to the payment of all accrued and unpaid fees under the Fee Letter, 

fifth, to the ratable reduction of Aggregate Invested Amount (with respect to the LC Amount, an amount necessary to
cash collateralize the LC Amount until the amount of cash collateral held in the LC Collateral Account equals the LC Amount), 
 sixth, for the ratable payment of all other Aggregate Unpaids, and 
 seventh, to the Seller in payment of the Deferred Purchase Price. 

Section 2.4 Payment Rescission. 
 No payment of any of the Aggregate Unpaids shall be considered paid or applied hereunder to the extent that, at any time, all or any portion of such payment or application is rescinded by application of
law or judicial authority, or must otherwise be returned or refunded for any reason. The Seller shall remain obligated for the amount of any payment or application so rescinded, returned or refunded, and shall promptly pay to the Administrator (for
application to the Person or Persons who suffered such rescission, return or refund) the full amount thereof, plus interest thereon at the Default Rate from the date of any such rescission, return or refunding. 

  
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 Section 2.5 Clean Up Call; Reconveyance of Purchased Assets. 

(a) The Servicer (so long as the Servicer is an Affiliate of the Seller) shall have the right (after providing written
notice to the Administrator in accordance with the Required Notice Period), at any time following the reduction of the Aggregate Invested Amount to a level that is less than 10.0% of the highest Aggregate Invested Amount outstanding during the term
of this Agreement, to repurchase all, but not less than all, of the then outstanding Purchased Assets. The purchase price in respect thereof shall be an amount equal to the Aggregate Unpaids through the date of such repurchase, payable in
immediately available funds to the Administrator’s Account. Such repurchase shall be made free and clear of any Adverse Claim created by the Administrator but otherwise shall be without representation, warranty or recourse of any kind by, on
the part of, or against Market Street, the LC Bank or the Administrator. 
 (b) On the Final Payout Date, the
Administrator on behalf of the Secured Parties shall be considered to have reconveyed free and clear of any Adverse Claim created by the Administrator (but otherwise shall be without representation, warranty or recourse of any kind by, on the part
of, or against the Secured Parties or the Administrator) to the Seller all of the Administrator’s (on behalf of the Secured Parties) right, title and interest in, to and under the Receivables, Related Security and Collections with respect
thereto and shall at the request, and sole cost and expense, of the Seller, execute and deliver to the Seller, all such documents or instruments as are necessary to terminate the Administrator’s interest on behalf of Market Street, the
Liquidity Bank and the LC Bank in the Receivables, Related Security and Collections with respect thereto. 
 Article III

 Commercial Paper Funding 
 Section 3.1 CP Costs. 
 The Seller shall pay CP Costs with
respect to the Invested Amount of all Purchased Assets funded through the issuance of Commercial Paper. Each Purchased Asset that is funded substantially with Pooled Commercial Paper will accrue CP Costs each day on a pro rata basis, based upon the
percentage share that the Invested Amount in respect of such Purchased Asset represents in relation to all assets held by Market Street and funded substantially with related Pooled Commercial Paper. 

Section 3.2 Calculation of CP Costs. 
 Not later than the second Business Day immediately following each Calculation Period, Market Street shall calculate the aggregate amount of CP Costs applicable to its Purchased Assets for the Calculation
Period then most recently ended and shall notify the Seller of such aggregate amount. 

  
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 Section 3.3 CP Costs Payments. 

On each Settlement Date, the Seller shall pay to the Administrator (for the benefit of Market Street) an aggregate amount equal to all
accrued and unpaid CP Costs in respect of the Invested Amount of all Purchased Assets funded with Commercial Paper for the Calculation Period then most recently ended in accordance with Article II. 

Section 3.4 Default Rate. 
 From and after the occurrence of an Amortization Event, all Purchased Assets funded through the issuance of Commercial Paper shall accrue CP Costs at the Default Rate. 

Article IV 

Liquidity Fundings 
 Section 4.1 Liquidity Fundings. 
 Prior to the occurrence of an
Amortization Event, the outstanding Invested Amount of each Purchased Asset funded with a Liquidity Funding shall accrue Yield for each day during its Interest Period at either the LIBO Rate or the Alternate Base Rate in accordance with the terms
and conditions hereof. Until the Administrator gives notice to the Seller of another Yield Rate in accordance with Section 4.4, the initial Yield Rate for any Purchased Asset funded with a Liquidity Funding shall be the LIBO Rate (unless
the Default Rate is then applicable). If any Purchased Asset initially funded with Commercial Paper is sold to the Liquidity Banks pursuant to the Liquidity Agreement, such Purchased Asset shall be deemed to have an Interest Period commencing on the
date of such sale. 
 Section 4.2 Yield Payments. 

On the Settlement Date for each Purchased Asset that is funded with a Liquidity Funding, the Seller shall pay to the Administrator (for
the benefit of the Liquidity Banks) an aggregate amount equal to the accrued and unpaid Yield thereon for the entire Interest Period of each such Liquidity Funding in accordance with Article II. 

Section 4.3 Selection and Continuation of Interest Periods. 

(a) With consultation from (and approval by) the Administrator, the Seller shall from time to time request Interest
Periods for the Purchased Assets funded with Liquidity Fundings, provided that if at any time any Liquidity Funding is outstanding, the Seller shall always request Interest Periods such that at least one Interest Period shall end on
the date specified in clause (a) of the definition of Settlement Date. 
 (b) The Seller or the
Administrator, upon notice to and consent by the other received at least three (3) Business Days prior to the end of an Interest Period (the “Terminating Tranche”) for any Liquidity Funding, may, effective on the last
day of the Terminating Tranche: (i) divide any such Liquidity Funding into multiple Liquidity Fundings, (ii) combine any such Liquidity Funding with one or more other Liquidity Fundings that have a Terminating Tranche ending on the same
day as such Terminating Tranche or (iii) combine any such Liquidity Funding with a new Liquidity Funding to be made by the Liquidity Banks on the day such Terminating Tranche ends. 

  
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 Section 4.4 Liquidity Funding Yield Rates. 

The Seller may request the LIBO Rate (subject to Section 4.5 below) or the Alternate Base Rate for each Liquidity Funding. The
Seller shall by 12:00 noon (New York City time): (a) at least three (3) Business Days prior to the expiration of any Terminating Tranche with respect to which the LIBO Rate is being requested as a new Yield Rate and (b) at least one
(1) Business Day prior to the expiration of any Terminating Tranche with respect to which the Alternate Base Rate is being requested as a new Yield Rate, give the Administrator irrevocable notice of the requested new Yield Rate for the
Liquidity Funding associated with such Terminating Tranche. The Administrator in its sole discretion shall select the Yield Rate for each Liquidity Funding. The Administrator will give notice to the Seller of the Yield Rate selected by the
Administrator for each Liquidity Funding by 12:00 noon (New York City time) at least one (1) Business Day prior to the expiration of any Terminating Tranche. Until the Administrator gives notice to the Seller of another Yield Rate, the initial
Yield Rate for any Purchased Asset assigned or participated to the Liquidity Banks pursuant to the Liquidity Agreement shall be the LIBO Rate (unless the Default Rate is then applicable). 

Section 4.5 Suspension of the LIBO Rate. 

(a) If any Liquidity Bank notifies the Administrator that it has determined that funding its ratable share of the
Liquidity Fundings at a LIBO Rate would violate any applicable law, rule, regulation, or directive of any governmental or regulatory authority, whether or not having the force of law, or that (i) deposits of a type and maturity appropriate to
match fund its Liquidity Funding at such LIBO Rate are not available or (ii) such LIBO Rate does not accurately reflect the cost of acquiring or maintaining a Liquidity Funding at such LIBO Rate, then the Administrator will promptly notify the
Seller Parties and the Administrator shall suspend the availability of such LIBO Rate and require the Seller to select the Alternate Base Rate for any Liquidity Funding accruing Yield at such LIBO Rate; provided, however, the failure
to so notify any Seller Party shall not result in the non-suspension of the availability of such LIBO Rate. 

(b) If less than all of the Liquidity Banks give a notice to the Administrator pursuant to Section 4.5(a),
each Liquidity Bank which gave such a notice shall be obliged, at the request of the Seller, Market Street or the Administrator, to assign all of its rights and obligations hereunder to (i) another Liquidity Bank or (ii) another funding
entity nominated by the Seller or the Administrator that is an Eligible Assignee willing to participate in the Liquidity Agreement through the Liquidity Termination Date in the place of such notifying Liquidity Bank; provided that
(A) the notifying Liquidity Bank receives payment in full of all Aggregate Unpaids owing to it (whether due or accrued), and (B) the replacement Liquidity Bank otherwise satisfies the requirements of the Liquidity Agreement. 

  
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 (c) Upon the occurrence of any event giving rise to the operation of
Section 4.5(a) with respect to any Liquidity Bank, it will, if requested by the Seller, to the extent permissible under applicable law, endeavor in good faith to change the funding office at which it books its ratable share of any
Liquidity Funding accruing Yield at a LIBO Rate hereunder if such change would make it lawful for such Liquidity Bank to fund such Liquidity Funding at a LIBO Rate; provided, however, that such change may be made in such manner
that such Liquidity Bank, in its sole determination, suffers no unreimbursed cost or expense or any disadvantage whatsoever. 

Section 4.6 Default Rate. 
 From and after the occurrence of an Amortization Event, all Liquidity Fundings shall accrue Yield at the Default Rate. 
 Article V 
 Representations and Warranties 

Section 5.1 Representations and Warranties of the Seller Parties. 

Each Seller Party hereby represents and warrants to the Administrator, Market Street and the LC Bank, as to itself, as of the date hereof
and as of the date of each Incremental Purchase and the date of each Reinvestment that: 
 (a) Existence and
Power. Such Seller Party’s jurisdiction of organization is correctly set forth in the preamble to this Agreement and such jurisdiction is its sole jurisdiction of organization. Such Seller Party is duly organized under the laws of its
jurisdiction of organization and is a “registered organization” as defined in the UCC in effect in such jurisdiction. Such Seller Party is validly existing and in good standing under the laws of its jurisdiction of organization and no
other state or jurisdiction, and such jurisdiction must maintain a public record showing the organization to have been organized. Such Seller Party is duly qualified to do business and is in good standing as a foreign entity, and has and holds all
organizational power and all governmental licenses, authorizations, consents and approvals required to carry on its business in each jurisdiction in which its business is conducted except where the failure to so qualify or so hold could not
reasonably be expected to have a Material Adverse Effect. 
 (b) Power and Authority; Due Authorization,
Execution and Delivery. The execution and delivery by such Seller Party of this Agreement and each other Transaction Document to which it is a party, and the performance of its obligations hereunder and thereunder and, in the case of the Seller,
the Seller’s use of the proceeds of Purchases made hereunder, are within its corporate powers and authority and have been duly authorized by all necessary corporate action on its part. This Agreement and each other Transaction Document to which
such Seller Party is a party has been duly executed and delivered by such Seller Party. 
 (c) No
Conflict. The execution and delivery by such Seller Party of this Agreement and each other Transaction Document to which it is a party, and the performance of its obligations hereunder and thereunder do not contravene or violate (i) its
Organizational Documents, (ii) any law, rule or regulation applicable to it, (iii) any 

  
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restrictions under any agreement, contract or instrument to which it is a party or by which it or any of its property is bound, or (iv) any order, writ, judgment, award, injunction or decree
binding on or affecting it or its property, and do not result in the creation or imposition of any Adverse Claim on assets of such Seller Party or its Subsidiaries (except as created hereunder) except, in any case, where such contravention or
violation could not reasonably be expected to have a Material Adverse Effect; and no transaction contemplated hereby requires compliance with any bulk sales act or similar law. 

(d) Governmental Authorization. Other than the filing of the financing statements required hereunder, no
authorization or approval or other action by, and no notice to or filing with, any governmental authority or regulatory body is required for the due execution and delivery by such Seller Party of this Agreement and each other Transaction Document to
which it is a party and the performance of its obligations hereunder and thereunder. 
 (e) Actions,
Suits. There are no actions, suits or proceedings pending, or to the best of such Seller Party’s knowledge, threatened, against it, or any of its properties, in or before any court, arbitrator or other body, that could reasonably be
expected to have a Material Adverse Effect. Such Seller Party is not in default with respect to any order of any court, arbitrator or governmental body which default could reasonably be expected to have a Material Adverse Effect. 

(f) Binding Effect. This Agreement and each other Transaction Document to which such Seller Party is a party
constitute the legal, valid and binding obligations of such Seller Party enforceable against such Seller Party in accordance with their respective terms, except as such enforcement may be limited by applicable bankruptcy, insolvency, reorganization
or other similar laws relating to or limiting creditors’ rights generally and by general principles of equity (regardless of whether enforcement is sought in a proceeding in equity or at law). 

(g) Accuracy of Information. All information (other than any projection or other forward-looking information)
heretofore furnished by such Seller Party or any of its Affiliates to the Administrator, Market Street or LC Bank for purposes of or in connection with this Agreement, any of the other Transaction Documents or any transaction contemplated hereby or
thereby is, and all such information (other than any projection or other forward-looking information) hereafter furnished by such Seller Party or any of its Affiliates to the Administrator, Market Street or the LC Bank will be, true and accurate in
every material respect on the date such information is stated or certified and does not and will not contain any material misstatement of fact. 
 (h) Use of Proceeds. No proceeds of any Purchase hereunder will be used by such Seller Party (i) for a purpose that violates, or would be inconsistent with, (A) Section 7.2(e)
of this Agreement or (B) Regulation T, U or X promulgated by the Board of Governors of the Federal Reserve System from time to time or (ii) to acquire any security in any transaction which is subject to Section 12, 13 or 14 of the
Securities Exchange Act of 1934, as amended other than the repurchase of equity securities of Arch so long as such repurchase does not violate Sections 12, 13 or 14 of the Securities Exchange Act of 1934, as amended. 

  
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 (i) Good Title. The Seller is (i) the legal and beneficial owner
of the Receivables and (ii) is the legal and beneficial owner of the Related Security with respect thereto, free and clear of any Adverse Claim, except as created by the Transaction Documents. There have been duly filed all financing statements
or other similar instruments or documents necessary under the UCC (or any comparable law) of all appropriate jurisdictions to perfect the Seller’s ownership interest in each Receivable, its Collections, “Supporting Obligations” (as
defined in Article 9 of the UCC in effect in each relevant jurisdiction), the Seller’s right, title and interest in, to and under each of the Transaction Documents to which it is a party, returned goods the sale of which gave rise to any
Receivable, security interests in favor of the Seller that secures payment of such Receivable and all other items of Related Security in which an interest therein may be perfected by the filing of a financing statement under Article 9 of the UCC and
proceeds of the foregoing. 
 (j) Perfection. This Agreement is effective to create a valid security
interest in favor of the Administrator for the benefit of the Secured Parties in the Purchased Assets to secure payment of the Aggregate Unpaids, free and clear of any Adverse Claim except as created by the Transactions Documents. There have been
duly filed all financing statements or other similar instruments or documents necessary under the UCC (or any comparable law) of all appropriate jurisdictions to perfect the Administrator’s (on behalf of the Secured Parties) security interest
in the Receivables, its Collections, “Supporting Obligations” (as defined in Article 9 of the UCC in effect in each relevant jurisdiction), the Seller’s right, title and interest in, to and under each of the Transaction Documents to
which it is a party, returned goods the sale of which gave rise to any Receivable, security interests in favor of the Seller that secures payment of such Receivable and all other items of Related Security in which an interest therein may be
perfected by the filing of a financing statement under Article 9 of the UCC and proceeds of the foregoing. Such Seller Party’s jurisdiction of organization is a jurisdiction whose law generally requires information concerning the existence of a
nonpossessory security interest to be made generally available in a filing, record or registration system as a condition or result of such a security interest’s obtaining priority over the rights of a lien creditor which respect to collateral.

 (k) Places of Business and Locations of Records. The jurisdiction of organization and principal places
of business of such Seller Party and the offices where it keeps all of its Records are located at the address(es) listed on Exhibit III or such other locations of which the Administrator has been notified in accordance with
Section 7.2(a) in jurisdictions where all action required by Section 13.3(a) has been taken and completed. The Seller’s Federal Employer Identification Number is correctly set forth on Exhibit III. 

(l) Collections. The conditions and requirements set forth in subclause (i) of Section 7.1(j) and
Section 8.2 have at all times since the Closing Date, been satisfied and duly performed. The conditions and requirements set forth in subclause (ii) of Section  

  
 19 

 
7.1(j) have been satisfied from and after the Closing Date. The names, addresses and jurisdictions of organization of all Collection Banks, together with the account numbers of the
Collection Accounts of the Seller at each Collection Bank and the post office box number of each Lock-Box, are listed on Exhibit IV. The Seller has not granted any Person, other than the Administrator as contemplated by this Agreement,
dominion and control of any Lock-Box or Collection Account, or the right to take dominion and control of any such Lock-Box or Collection Account at a future time or upon the occurrence of a future event. 

(m) Material Adverse Effect. (i) The initial Servicer represents and warrants that since June 30, 2009,
no event has occurred that would have a material adverse effect on the financial condition or operations of the initial Servicer and its Subsidiaries taken as a whole or the ability of the initial Servicer to perform its obligations under this
Agreement, and (ii) the Seller represents and warrants that since June 30, 2009, no event has occurred that would have a material adverse effect on (A) the financial condition or operations of the Seller, (B) the ability of the
Seller to perform its obligations under the Transaction Documents, or (C) the collectability of the Receivables generally or any material portion of the Receivables. 

(n) Names. The name in which the Seller has executed this Agreement is identical to the name of the Seller as
indicated on the public record of its state of organization which shows the Seller to have been organized. In the past five (5) years, the Seller has not used any corporate names, trade names or assumed names other than the name in which it has
executed this Agreement. 
 (o) Ownership of the Seller. Arch owns, directly or indirectly, 100% of the
issued and outstanding capital stock of the Seller, free and clear of any Adverse Claim. Such capital stock is validly issued, fully paid and nonassessable, and there are no options, warrants or other rights to acquire securities of the Seller.

 (p) Not a Holding Company or an Investment Company. Such Seller Party is not a “holding
company” or a “subsidiary holding company” of a “holding company” within the meaning of the Public Utility Holding Company Act of 1935, as amended, or any successor statute. Such Seller Party is not an “investment
company” within the meaning of the Investment Company Act of 1940, as amended, or any successor statute. 

(q) Compliance with Law. Such Seller Party has complied in all respects with all applicable laws, rules,
regulations, orders, writs, judgments, injunctions, decrees or awards to which it may be subject, except where the failure to so comply could not reasonably be expected to have a Material Adverse Effect. Each Receivable, together with the Contract
related thereto, does not contravene any laws, rules or regulations applicable thereto (including, without limitation, laws, rules and regulations relating to truth in lending, fair credit billing, fair credit reporting, equal credit opportunity,
fair debt collection practices and privacy), and no part of such Contract is in violation of any such law, rule or regulation, except where such contravention or violation could not reasonably be expected to have a Material Adverse Effect.

  
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 (r) Compliance with Credit and Collection Policy. Such Seller Party
has complied in all material respects with the Credit and Collection Policy with regard to each Receivable and the related Contract, and has not made any material change to such Credit and Collection Policy, except such material change as to which
the Administrator has been notified in accordance with Section 7.1(a)(vii). 
 (s) Payments to
Originators. With respect to each Receivable transferred to the Seller under the Receivables Sale Agreement, the Seller has given reasonably equivalent value to each of the Originators in consideration therefor and such transfer was not made for
or on account of an antecedent debt. No transfer by any Originator of any Receivable under the Receivables Sale Agreement is or may be voidable under any section of the Bankruptcy Reform Act of 1978 (11 U.S.C. §§ 101 et seq.), as
amended. 
 (t) Enforceability of Contracts. Each Contract with respect to each Receivable is effective to
create, and has created, a legal, valid and binding obligation of the related Obligor to pay the Outstanding Balance of the Receivable created thereunder and any accrued interest thereon, enforceable against the Obligor in accordance with its terms,
except as such enforcement may be limited by applicable bankruptcy, insolvency, reorganization or other similar laws relating to or limiting creditors’ rights generally and by general principles of equity (regardless of whether enforcement is
sought in a proceeding in equity or at law). 
 (u) Eligible Receivables. Each Receivable included in the
Net Pool Balance as an Eligible Receivable on the date of any Monthly Report was an Eligible Receivable on such date. 
 (v) Purchase Limit and Maximum Aggregate Investment Amount. Immediately after giving effect to each Incremental Purchase hereunder, the Aggregate Invested Amount is less than or equal to the
Purchase Limit and the Asset Coverage Ratio is not less than 1.0. 
 (w) Accounting. The manner in which
such Seller Party accounts for the transactions contemplated by this Agreement and the Receivables Sale Agreement does not jeopardize the characterization of the transactions contemplated herein and therein as being true sales. 

(x) Separateness. From the date of the formation of the Seller, the Seller has complied with all provisions of
Section 7.1(i) applicable to it. 
 (y) Contract Provisions. Except for customary adjustments
in the ordinary course of business, no Contract with respect to any Receivable contains provisions that either (i) permit or provide for any reduction in the Outstanding Balance of the Receivable created thereunder and any accrued interest
thereon or (ii) could otherwise hinder the ability to receive Collections with respect to such Receivable. 

  
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 Article VI 
 Conditions of Purchases 
 Section 6.1 Conditions Precedent to
Initial Incremental Purchase. 
 The initial Incremental Purchase of a Purchased Asset under this Agreement is subject to
the conditions precedent that (a) the Administrator shall have received on or before the Closing Date those documents listed on Schedule A and (b) the Administrator shall have received all fees and expenses required to be paid on
such date pursuant to the terms of this Agreement and the Fee Letter. 
 Section 6.2 Conditions Precedent to All
Purchases and Reinvestments. 
 Each Incremental Purchase, each Reinvestment and each issuance of any Letter of Credit
shall be subject to the further conditions precedent that (a) in the case of each such Purchase and each such issuance of any Letter of Credit: (i) the Servicer shall have delivered to the Administrator on or prior to the date of such
Purchase, in form and substance satisfactory to the Administrator, all Monthly Reports and Collateral Certificates as and when due under Section 8.5 and (ii) upon the Administrator’s request, the Servicer shall have delivered
to the Administrator at least three (3) days prior to such Purchase an interim Monthly Report showing the amount of Eligible Receivables; (b) the Administrator shall have received such other approvals, opinions or documents as it may
reasonably request and (c) on each Purchase Date, the following statements shall be true (and acceptance of the proceeds of such Incremental Purchase, Reinvestment or issuance shall be deemed a representation and warranty by the Seller that
such statements are then true): 
 (i) the representations and warranties set forth in Section 5.1
are true and correct on and as of the date of such Incremental Purchase, Reinvestment or issuance as though made on and as of such Purchase Date, except to the extent such representations and warranties are expressly limited to an earlier date;

 (ii) no event has occurred and is continuing, or would result from such Incremental Purchase, Reinvestment or
issuance, that will constitute an Amortization Event, and no event has occurred and is continuing, or would result from such Incremental Purchase, Reinvestment or issuance, that would constitute an Unmatured Amortization Event; 

(iii) the Aggregate Invested Amount does not exceed the Purchase Limit in effect on such Purchase Date; and 

(iv) the Asset Coverage Ratio is not less than 1.0. 
 It is expressly understood that each Reinvestment shall, unless otherwise directed by the Administrator, Market Street or LC Bank, occur automatically on each day that the Servicer shall receive any
Collections without the requirement that any further action be taken on the part of any Person and notwithstanding the failure of the Seller to satisfy any of the foregoing conditions precedent in respect of such Reinvestment. The failure of the
Seller to satisfy any of the 

  
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foregoing conditions precedent in respect of any Reinvestment shall give rise to a right of the Administrator, which right may be exercised at any time on demand of the Administrator, to rescind
the related purchase and direct the Seller to pay to the Administrator’s Account, for the ratable benefit of Market Street and/or the LC Bank, an amount equal to the Collections prior to the Facility Termination Date that shall have been
applied to the affected Reinvestment. 
 Article VII 

Covenants 

Section 7.1 Affirmative Covenants of the Seller Parties. 

Until the date on which the Aggregate Unpaids have been indefeasibly paid in full and this Agreement terminates in accordance with its
terms, each Seller Party hereby covenants, as to itself, as set forth below: 
 (a) Financial Reporting.
Such Seller Party will maintain, for itself and each of its Subsidiaries, a system of accounting established and administered in accordance with GAAP, and furnish or cause to be furnished to the Administrator: 

(i) Annual Reporting. Within 90 days after the close of each of its fiscal years, audited, unqualified consolidated
financial statements (which shall include balance sheets, statements of income and retained earnings and a statement of cash flows) for Arch and its consolidated subsidiaries for such fiscal year certified in a manner acceptable to the Administrator
by KPMG LLP, independent public accountants or any other independent public accountants of recognized national standing. 
 (ii) Quarterly Reporting. Within 45 days after the close of the first three (3) quarterly periods of each of its respective fiscal years, balance sheets of each of the Seller Parties as at the
close of each such period and consolidated statements of income and a statement of cash flows for Arch and its consolidated subsidiaries for the period from the beginning of such fiscal year to the end of such quarter, all certified by its
respective chief financial officer, principal accounting officer, treasurer or corporate controller. 
 (iii)
Compliance Certificate. Together with the financial statements required hereunder, a compliance certificate in substantially the form of Exhibit V signed by such Seller Party’s Authorized Officer, and dated the date of such annual
financial statement or such quarterly financial statement, as the case may be. 
 (iv) Shareholders Statements
and Reports. Promptly after being mailed to the shareholders of such Seller Party copies of all financial statements, reports and proxy statements so furnished to them. 

(v) S.E.C. Filings. Promptly after becoming publicly available, copies of all registration statements and annual,
quarterly, monthly or other regular reports which such Seller Party or any of its Subsidiaries files with the Securities and Exchange Commission. 

  
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 (vi) Copies of Notices. Promptly upon its receipt of any notice,
request for consent, financial statements, certification, report or other communication under or in connection with any Transaction Document from any Person other than the Administrator, Market Street or LC Bank, copies of the same if such notice,
request, consent, financial statements, certification, report or other communication can reasonably be expected to have an adverse effect on the Receivables, the Related Security or the Administrator’s rights therein. 

(vii) Change in Credit and Collection Policy. At least thirty (30) days prior to the effectiveness of any
material change in or material amendment to the Credit and Collection Policy, a copy of the Credit and Collection Policy then in effect and a notice (A) indicating such change or amendment, and (B) if such proposed change or amendment
would be reasonably likely to adversely affect the collectability of the Receivables or decrease the credit quality of any newly created Receivables, requesting the Administrator’s consent thereto. 

(viii) Other Information. Promptly, from time to time, such other information, documents, records or reports
relating to (A) the financial condition or operations of such Seller Party as the Administrator may from time to time reasonably request in order to protect the interests of the Administrator, for the benefit of Market Street and the LC Bank,
under or as contemplated by this Agreement or (B) the Receivables as the Administrator may reasonably request. 
 Information required to be delivered pursuant to paragraphs (i), (ii), (iv) and (v) of this Section 7.1(a) shall be deemed to have been delivered by the
date indicated therein, provided that such information has been filed with the Securities and Exchange Commission by such date; provided further that such Seller Party shall deliver paper copies of the statements, reports, financial statements and
other information referred to in paragraphs (i), (ii), (iv) and (v) of this Section 7.1(a) to the Administrator promptly upon request following such filing. 

(b) Notices. Such Seller Party will notify the Administrator in writing of any of the following promptly upon
learning of the occurrence thereof, describing the same and, if applicable, the steps being taken with respect thereto: 
 (i) Amortization Events or Unmatured Amortization Events. The occurrence of each Amortization Event and each Unmatured Amortization Event, by a statement of an Authorized Officer of such Seller
Party. 
 (ii) Judgments and Proceedings. (A) The entry of any judgment or decree against the
Servicer or its Subsidiaries if the amount of such judgment or decree then outstanding against the Servicer and its Subsidiaries exceeds $10,000,000 after deducting (1) the amount with respect to which the Servicer or any such Subsidiary, as
the case may be, is insured and with respect to which the 

  
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insurer has not disclaimed responsibility in writing, and (2) the amount for which the Servicer or any such Subsidiary is otherwise indemnified if the terms of such indemnification are
satisfactory to the Administrator, and (B) the institution of any litigation, arbitration proceeding or governmental proceeding against the Servicer which, individually or in the aggregate, could reasonably be expected to have a Material
Adverse Effect; and (C) the entry of any judgment or decree or the institution of any litigation, arbitration proceeding or governmental proceeding against the Seller. 

(iii) Material Adverse Effect. The occurrence of any event or condition that has had, or could reasonably be
expected to have, a Material Adverse Effect. 
 (iv) Termination Date. The occurrence of the
“Termination Date” under and as defined in the Receivables Sale Agreement. 
 (v) Defaults Under
Other Agreements. The occurrence of a default or an event of default under any other financing arrangement pursuant to which the Seller is a debtor or an obligor; or the occurrence of a default that could lead to an event of default or an event
of default under any other financing arrangement in a principal amount greater than or equal to $10,000,000 pursuant to which the Servicer is a debtor or an obligor. 

(vi) Notices under Receivables Sale Agreement. Copies of all notices delivered under the Receivables Sale
Agreement. 
 (c) Compliance with Laws and Preservation of Corporate Existence. Such Seller Party will
comply in all respects with all applicable laws, rules, regulations, orders, writs, judgments, injunctions, decrees or awards to which it may be subject, except where the failure to so comply could not reasonably be expected to have a Material
Adverse Effect. Such Seller Party will preserve and maintain its corporate existence, rights, franchises and privileges in the jurisdiction of its organization, and qualify and remain qualified in good standing as a foreign corporation in each
jurisdiction where its business is conducted, except where the failure to so preserve and maintain or qualify could not reasonably be expected to have a Material Adverse Effect. 

(d) Audits. In addition to information that may be required pursuant to Section 7.1(a)(viii), each
Seller Party will furnish to the Administrator from time to time such information with respect to it and the Receivables as the Administrator may reasonably request. Such Seller Party will, from time to time during regular business hours as
requested by the Administrator upon reasonable notice and at the sole cost of such Seller Party, permit the Administrator, or its agents or representatives (and shall cause each Originator to permit the Administrator or its agents or
representatives): (i) to examine and make copies of and abstracts from all Records in the possession or under the control of such Person relating to the Purchased Assets, including, without limitation, the related Contracts (other than any
Confidential Contract (except for Confidential Contracts as to which the related Obligor has consented to such disclosure or which may be disclosed to others who are subject to a confidentiality agreement) as to which disclosure

  
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thereof cannot be satisfied by the execution and delivery of a confidentiality agreement), and (ii) to visit the offices and properties of such Person for the purpose of examining such
materials described in clause (i) above, and to discuss matters relating to such Person’s financial condition or the Purchased Assets or any Person’s performance under any of the Transaction Documents or any Person’s
performance under the Contracts and, in each case, with any of the officers or employees of the Seller or the Servicer having knowledge of such matters (each of the foregoing examinations and visits, a “Review”); provided,
however, that, so long as no Amortization Event has occurred and is continuing, (A) the Seller Parties shall only be responsible for the costs and expenses of one (1) Review by Administrator and one (1) Review by an independent
auditor selected by Administrator in any one calendar year, and (B) the Administrator will not request more than two (2) Reviews in any one calendar year. 

(e) Keeping and Marking of Records and Books. 

(i) The Servicer will (and will cause each Originator to) maintain and implement administrative and operating procedures
(including, without limitation, an ability to recreate records evidencing Receivables in the event of the destruction of the originals thereof), and keep and maintain all documents, books, records and other information, in each such case as
reasonably necessary or advisable for the collection of all Receivables (including, without limitation, records adequate to permit the immediate identification of each new Receivable and all Collections of and adjustments to each existing
Receivable). The Servicer will (and will cause each Originator to) give the Administrator notice of any material change in the administrative and operating procedures referred to in the previous sentence. 

(ii) Such Seller Party will (and will cause each Originator to) on or prior to the date hereof, mark its master data
processing system and all accounts receivable reports generated thereby with a legend, reasonably acceptable to the Administrator, describing the Administrator’s security interest in the Purchased Assets. 

(f) Compliance with Contracts and Credit and Collection Policy. Such Seller Party will (and will cause each
Originator to) timely and fully (i) perform and comply in all material respects with all provisions, covenants and other promises required to be observed by it under the Contracts related to the Receivables, in each case to the same extent as
though such Contracts had not been transferred to the Administrator, but only to the extent there would not be an adverse effect upon the Receivables and (ii) comply in all material respects with the Credit and Collection Policy in regard to
each Receivable and the related Contract. 
 (g) Performance and Enforcement of Receivables Sale
Agreement. The Seller will, and will require each Originator to, perform each of their respective obligations and undertakings under and pursuant to the Receivables Sale Agreement, will purchase Receivables thereunder in strict compliance with
the terms thereof and will vigorously enforce the rights and remedies accorded to the Seller under the Receivables Sale 

  
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Agreement. The Seller will take all actions to perfect and enforce its rights and interests (and the rights and interests of the Administrator, as the Seller’s assignee) under the
Receivables Sale Agreement as the Administrator may from time to time reasonably request, including, without limitation, making claims to which it may be entitled under any indemnity, reimbursement or similar provision contained in the Receivables
Sale Agreement. 
 (h) Ownership. The Seller will (or will cause each Originator to) take all necessary
action to establish and maintain, irrevocably in Seller (i) legal and equitable title to the Receivables and the Collections and (ii) all of each Originator’s right, title and interest in the Related Security associated with the
Receivables, in each case, free and clear of any Adverse Claims, other than Adverse Claims in favor of the Administrator, for the benefit of the Secured Parties (including, without limitation, the filing of all financing statements or other similar
instruments or documents necessary under the UCC (or any comparable law) of all appropriate jurisdictions to perfect the Administrator’s (for the benefit of the Secured Parties) security interest in the Purchased Assets and such other action to
perfect, protect or more fully evidence the interest of the Administrator for the benefit of the Secured Parties as the Administrator may reasonably request); provided, however, that unless and until an Amortization Event or an
Unmatured Amortization Event has occurred, no Seller Party shall be required to take any actions to establish, maintain or perfect the Administrator’s ownership interest in the Related Security other than the filing of financing statements
under the UCC of all appropriate jurisdictions. 
 (i) Reliance. The Seller acknowledges that the
Administrator, Market Street and the LC Bank are entering into the transactions contemplated by this Agreement in reliance upon the Seller’s identity as a legal entity that is separate from each Originator. Therefore, from and after the date of
execution and delivery of this Agreement, the Seller shall take all reasonable steps, including, without limitation, all steps that the Administrator, Market Street or the LC Bank may from time to time reasonably request, to maintain the
Seller’s identity as a separate legal entity and to make it manifest to third parties that the Seller is an entity with assets and liabilities distinct from those of each Originator and any Affiliates thereof (other than the Seller) and not
just a division of such Originator or any such Affiliate. Without limiting the generality of the foregoing and in addition to the other covenants set forth herein, the Seller will: 

(i) Hold itself out to the public and conduct its own business in its own name and require that all full-time employees of
the Seller, if any, identify themselves as such and not as employees of any Originator (including, without limitation, by means of providing appropriate employees with business or identification cards identifying such employees as the Seller’s
employees); 
 (ii) compensate all employees, consultants and agents directly, from the Seller’s own funds,
for services provided to the Seller by such employees, consultants and agents and, to the extent any employee, consultant or agent of the Seller is also an employee, consultant or agent of any Originator or any Affiliate thereof, allocate the
compensation of such employee, consultant or agent between the Seller and such Originator or such Affiliate, as applicable, on a basis that reflects the services rendered to the Seller and such Originator or such Affiliate, as applicable;

  
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 (iii) separate stationery, invoices, checks and other business forms in its
own name; 
 (iv) conduct all transactions with each Originator and the Servicer (including, without
limitation, any delegation of its obligations hereunder as Servicer) strictly on an arm’s-length basis, allocate fairly and reasonably all overhead expenses (including, without limitation, telephone and other utility charges) for items shared
between the Seller and such Originator on the basis of actual use to the extent practicable and, to the extent such allocation is not practicable, on a basis reasonably related to actual use; 

(v) at all times have a Board of Directors and not less than one member of Seller’s Board of Directors shall be an
individual who (A) has (1) prior experience as an Independent Director for a corporation or limited liability company whose charter documents required the unanimous consent of all Independent Directors thereof before such corporation or
limited liability company could consent to the institution of bankruptcy or insolvency proceedings against it or could file a petition seeking relief under any applicable federal or state law relating to bankruptcy and (2) at least three years
of employment experience with one or more entities that provide, in the ordinary course of their respective businesses, advisory, management or placement services to issuers of securitization or structured finance instruments, agreements or
securities, (B) is reasonably acceptable to the Administrator as evidenced in a writing executed by the Administrator (it being understood and agreed that any equity owner, manager or employee of Global Securitization Services, LLC or Lord
Securities Corporation is hereby consented to by the Administrator), (C) is not, and has not been for a period of five years prior to his or her appointment as an Independent Director of the Seller: (1) a stockholder (whether direct,
indirect or beneficial), customer, advisor or supplier of Arch or any of its respective Affiliates, (2) a director, officer, employee, partner, attorney or consultant of Arch or any of its Affiliates (Arch and its Affiliates other than the
Seller being hereinafter referred to as the “Parent Group”), (3) a person related to any person referred to in clauses (1) or (2) above, (4) a person or other entity controlling or under common control with any such
stockholder, partner, customer, supplier, employee, officer or director or (5) a trustee, conservator or receiver for any member of the Parent Group and (D) shall not at any time serve as a trustee in bankruptcy for the Seller, Arch or any
Affiliate thereof (such an individual meeting the requirements set forth above, the “Independent Director”), and causing its certificate of incorporation to provide that (w) at least one member of the Seller’s Board of Directors
shall be an Independent Director, (x) the Seller’s Board of Directors shall not approve, or take any other action to cause the filing of, a voluntary bankruptcy petition with respect to the Seller unless a unanimous vote of the
Seller’s Board of Directors (which vote shall include the affirmative vote of all Independent Directors) shall approve the taking of such action in 

  
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writing prior to the taking of such action, (y) the Seller’s Board of Directors shall not vote on any matter requiring the vote of its Independent Directors under its certificate of
incorporation unless and until at least one Independent Director is then serving on the Seller’s Board of Directors and (z) the provisions requiring an Independent Director and the provision described in clauses (x) and (y) of
this paragraph (v) cannot be amended without the prior written consent of each Independent Director (it being understood that, as used in this clause (v), “control” means the possession directly or indirectly of the power to direct or
cause the direction of management policies or activities of a person or entity whether through ownership of voting securities, by contract or otherwise); 
 (vi) observe all organizational formalities as a distinct entity, and ensure that all corporate actions relating to (A) the selection, maintenance or replacement of the Independent Director,
(B) the dissolution or liquidation of the Seller or (C) the initiation of, participation in, acquiescence in or consent to any bankruptcy, insolvency, reorganization or similar proceeding involving the Seller, are duly authorized by
unanimous vote of its Board of Directors (including the Independent Director); 
 (vii) maintain the
Seller’s books and records separate and distinct from those of each Originator and any Affiliate thereof and otherwise in such a manner so that such books and records are readily identifiable as its own assets rather than assets of any
Originator or any Affiliate thereof; 
 (viii) prepare its financial statements separately from those of each
Originator and insure that any consolidated financial statements of any Originator or any Affiliate thereof that include the Seller and that are filed with the Securities and Exchange Commission or any other governmental agency have notes clearly
stating that the Seller is a separate legal entity and that its assets will be available first and foremost to satisfy the claims of the creditors of the Seller; 

(ix) except as herein specifically otherwise provided, maintain the funds and other assets of the Seller separate from,
and not commingled with, those of any Originator or any Affiliate thereof and only maintain bank accounts or other depository accounts to which the Seller alone is the account party, into which the Seller alone makes deposits and from which the
Seller alone (or the Administrator hereunder) has the power to make withdrawals; 
 (x) pay all of the
Seller’s operating expenses from the Seller’s own assets (except for certain payments by any Originator or other Persons pursuant to allocation arrangements that comply with the requirements of this Section 7.1(i)) and pay its
own liabilities out of its own funds; 

  
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 (xi) operate its business and activities such that: it does not engage in
any business or activity of any kind, or enter into any transaction or indenture, mortgage, instrument, agreement, contract, lease or other undertaking, other than the transactions contemplated and authorized by this Agreement and the Receivables
Sale Agreement; and does not create, incur, guarantee, assume or suffer to exist any indebtedness or other liabilities, whether direct or contingent, other than (A) as a result of the endorsement of negotiable instruments for deposit or
collection or similar transactions in the ordinary course of business, (B) the incurrence of obligations under this Agreement, (C) the incurrence of obligations, as expressly contemplated in the Receivables Sale Agreement, to make payment
to the applicable Originator thereunder for the purchase of Receivables from such Originator under the Receivables Sale Agreement, and (D) the incurrence of operating expenses in the ordinary course of business of the type otherwise
contemplated by this Agreement; 
 (xii) maintain its corporate charter in conformity with this Agreement, such
that it does not amend, restate, supplement or otherwise modify its Certificate of Incorporation or By-Laws in any respect that would impair its ability to comply with the terms or provisions of any of the Transaction Documents, including, without
limitation, Section 7.1(i) of this Agreement; 
 (xiii) maintain the effectiveness of, and continue
to perform under the Receivables Sale Agreement, such that it does not amend, restate, supplement, cancel, terminate or otherwise modify the Receivables Sale Agreement, or give any consent, waiver, directive or approval thereunder or waive any
default, action, omission or breach under the Receivables Sale Agreement or otherwise grant any indulgence thereunder, without (in each case) the prior written consent of the Administrator; 

(xiv) maintain its corporate separateness such that it does not merge or consolidate with or into, or convey, transfer,
lease or otherwise dispose of (whether in one transaction or in a series of transactions, and except as otherwise contemplated herein) all or substantially all of its assets (whether now owned or hereafter acquired) to, or acquire all or
substantially all of the assets of, any Person, nor at any time create, have, acquire, maintain or hold any interest in any Subsidiary; 
 (xv) maintain at all times the Required Capital Amount (as defined in the Receivables Sale Agreement) and refrain from making any dividend, distribution, redemption of capital stock or payment of any
subordinated indebtedness which would cause the Required Capital Amount to cease to be so maintained; 
 (xvi)
operate its business and activities such that it (A) does not hold itself out as having agreed to guarantee or be obligated for the debts of any Originator or any Affiliate thereof, (B) does not hold out its credit as being available to
satisfy the obligations of any Originator or any Affiliate thereof and (C) has not pledged assets for the benefit of any Originator or any Affiliate thereof; and 

  
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 (xvii) take such other actions as are necessary on its part to ensure that
the facts and assumptions set forth in the opinion issued by Cravath, Swaine & Moore LLP, as counsel for the Seller, in connection with the closing or initial Purchase under this Agreement and relating to substantive consolidation issues,
and in the certificates accompanying such opinion, remain true and correct in all material respects at all times. 
 (j) Collections. Such Seller Party will cause (i) all proceeds from all Lock-Boxes to be directly deposited by a Collection Bank into a Collection Account and (ii) each Lock-Box and
Collection Account to be subject at all times to a Collection Account Agreement that is in full force and effect. In the event any payments relating to the Purchased Assets are remitted directly to the Seller or any Affiliate of the Seller, the
Seller will remit (or will cause all such payments to be remitted) directly to a Collection Bank and deposited into a Collection Account within two (2) Business Days following receipt thereof, and, at all times prior to such remittance, the
Seller will itself hold or, if applicable, will cause such payments to be held in trust for the exclusive benefit of the Administrator, Market Street and the LC Bank. The Seller will maintain exclusive ownership, dominion and control (subject to the
terms of this Agreement) of each Lock-Box and Collection Account and shall not grant the right to take dominion and control of any Lock-Box or Collection Account at a future time or upon the occurrence of a future event to any Person, except to the
Administrator as contemplated by this Agreement. 
 (k) Taxes. Such Seller Party will file all tax returns
and reports required by law to be filed by it and will promptly pay all taxes and governmental charges at any time owing, except any such taxes which are not yet delinquent or are being diligently contested in good faith by appropriate proceedings
and for which adequate reserves in accordance with GAAP shall have been set aside on its books. The Seller will pay when due any taxes payable in connection with the Receivables, exclusive of taxes on or measured by income or gross receipts of the
Administrator, Market Street or the LC Bank. 
 (l) Payment to Applicable Originator. With respect to any
Receivable purchased by the Seller from an Originator, such sale shall be effected under, and in compliance with the terms of, the Receivables Sale Agreement, including, without limitation, the terms relating to the amount and timing of payments to
be made to such Originator in respect of the purchase price for such Receivable. 
 Section 7.2 Negative Covenants of
the Seller Parties. 
 Until the date on which the Aggregate Unpaids have been indefeasibly paid in full and this
Agreement terminates in accordance with its terms, each Seller Party hereby covenants, as to itself, that: 
 (a)
Change in Name, Jurisdiction of Organization. Such Seller Party will not change (i) its name as it appears in official filings in its jurisdiction of organization, (ii) its status as a “registered organization” (within the
meaning of any applicable enactment of the UCC), (iii) its organizational identification number, if any, issued by its 

  
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jurisdiction of organization, or (iv) its jurisdiction of organization unless it shall have: (A) given the Administrator at least thirty (30) days’ prior written notice
thereof and (B) delivered to the Administrator all financing statements, instruments and other documents requested by the Administrator in connection with such change or relocation. 

(b) Change in Payment Instructions to Obligors. Except as may be required by the Administrator pursuant to
Section 8.2(b), such Seller Party will not add or terminate any bank as a Collection Bank, or make any change in the instructions to Obligors regarding payments to be made to any Lock-Box or Collection Account, unless the Administrator
shall have received, at least ten (10) days before the proposed effective date therefor, (i) written notice of such addition, termination or change and (ii) with respect to the addition of a Collection Bank or a Collection Account or
Lock-Box, an executed Collection Account Agreement with respect to the new Collection Account or Lock-Box; provided, however, that the Servicer may make changes in instructions to Obligors regarding payments if such new instructions
require such Obligor to make payments to another existing Collection Account. 
 (c) Modifications to
Contracts and Credit and Collection Policy. Such Seller Party will not, and will not permit any Originator to, make any material change or material amendment to the Credit and Collection Policy unless, at least 30 days prior to such material
change or material amendment, it has delivered to the Administrator a copy of the Credit and Collection Policy then in effect and notice (i) indicating such proposed change or amendment, and (ii) if such proposed change or amendment would
be reasonably likely to adversely affect the collectability of the Receivables or decrease the credit quality of any newly created Receivables, requesting the Administrator’s consent thereto. Except as provided in Section 8.2(d),
the Servicer will not, and will not permit any Originator to, extend, amend or otherwise modify the terms of any Receivable or any Contract related thereto other than in accordance with the Credit and Collection Policy. 

(d) Sales, Liens. The Seller will not sell, assign (by operation of law or otherwise) or otherwise dispose of, or
grant any option with respect to, or create or suffer to exist any Adverse Claim upon (including, without limitation, the filing of any financing statement) or with respect to, any of the Purchased Assets, or assign any right to receive income with
respect thereto (other than, in each case, the sale hereunder and the creation of a security interest therein in favor of the Administrator as provided for herein or in any Transaction Document), and the Seller will defend the right, title and
interest of the Secured Parties in, to and under any of the foregoing property, against all claims of third parties claiming through or under the Seller or any Originator. The Seller will not create or suffer to exist any mortgage, pledge, security
interest, encumbrance, lien, charge or other similar arrangement on any of its inventory the sale of which gives rise to any Receivable. 
 (e) Use of Proceeds. The Seller will not use the proceeds of the Purchases for any purpose other than (i) paying for Receivables and Related Security under and in accordance with the
Receivables Sale Agreement, including without limitation, making payments on the Subordinated Notes (as defined therein) to the extent permitted thereunder and under the Receivables Sale Agreement, (ii) paying its ordinary and necessary
operating expenses when and as due, and (iii) making Restricted Junior Payments to the extent permitted under this Agreement. 

  
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 (f) Termination Date Determination. The Seller will not designate the
Termination Date (as defined in the Receivables Sale Agreement), or send any written notice to any Originator in respect thereof, without the prior written consent of the Administrator, except with respect to the occurrence of such Termination Date
arising pursuant to Section 5.1(d) of the Receivables Sale Agreement. 
 (g) Restricted Junior
Payments. The Seller will not make any Restricted Junior Payment if after giving effect thereto, the Seller’s Net Worth (as defined in the Receivables Sale Agreement) would be less than the Required Capital Amount (as defined in the
Receivables Sale Agreement). 
 (h) Seller Indebtedness. The Seller will not incur or permit to exist any
Indebtedness or liability on account of deposits except: (i) the Aggregate Unpaids, (ii) the Subordinated Loans (as defined in the Receivables Sale Agreement), (iii) other current accounts payable arising in the ordinary course of
business and not overdue, (iv) the endorsement of negotiable instruments for deposit or collection or similar transactions in the ordinary course of business, (v) the incurrence of obligations under this Agreement, (vi) the incurrence
of obligations, as expressly contemplated in the Receivables Sale Agreement, to make payment to the Originators thereunder for the purchase of Receivables from such Originators under the Receivables Sale Agreement, and (vii) the incurrence of
operating expenses in the ordinary course of business of the type otherwise contemplated by this Agreement. The Seller shall not hold out its credit as available to satisfy the obligations of others, pledge its assets for the benefit of any other
entity, make loans or advances to any other entity or acquire obligations or securities of its shareholders. 

(i) Prohibition on Additional Negative Pledges. No such Seller Party will enter into or assume any agreement (other
than this Agreement and the other Transaction Documents) prohibiting the creation or assumption of any Adverse Claim upon the Purchased Assets except as contemplated by the Transaction Documents, or otherwise prohibiting or restricting any
transaction contemplated hereby or by the other Transaction Documents, and no such Seller Party will enter into or assume any agreement creating any Adverse Claim upon the Subordinated Notes (as defined in the Receivables Sale Agreement).

 (j) Contract Provisions. Except for customary adjustments in the ordinary course of business, such
Seller Party will not (and will not permit any Originator to) permit any Contract with respect to any Receivable to contain provisions that either (i) permit or provide for any reduction in the Outstanding Balance of the Receivable created
thereunder and any accrued interest thereon or (ii) could otherwise hinder the ability to receive Collections with respect to such Receivable . 

  
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 Article VIII 
 Administration and Collection 
 Section 8.1 Designation of
Servicer. 
 (a) The servicing, administration and collection of the Receivables shall be conducted by
such Person (the “Servicer”) so designated from time to time in accordance with this Section 8.1. Arch is hereby designated as, and hereby agrees to perform the duties and obligations of, the Servicer pursuant to
the terms of this Agreement. The Administrator may, upon the occurrence of an Unmatured Amortization Event (other than one arising as a result of a Voluntary Termination, unless another Unmatured Amortization Event occurs), designate as Servicer any
Person to succeed Arch or any successor Servicer provided that the Rating Agency Condition is satisfied. 
 (b) Arch may delegate, and Arch hereby advises the Administrator, Market Street and the LC Bank that it has delegated, to each Originator, as sub-servicer of the Servicer, certain of its duties and
responsibilities as Servicer hereunder in respect of the Receivables originated by such Originator. Without the prior written consent of the Administrator (which consent shall not be unreasonably withheld) Arch shall not be permitted to delegate any
of its duties or responsibilities as Servicer to any Person other than (i) the Seller, (ii) any Originator, and (iii) with respect to certain Defaulted Receivables, outside collection agencies in accordance with its customary
practices. Neither the Seller nor the Originators shall be permitted to further delegate to any other Person any of the duties or responsibilities of the Servicer delegated to it by Arch. If at any time the Administrator shall designate as Servicer
any Person other than Arch, all duties and responsibilities theretofore delegated by Arch to the Seller or any Originator may, at the discretion of the Administrator, be terminated forthwith on notice given by the Administrator to Arch and to the
Seller and such Originator. 
 (c) Notwithstanding the foregoing subsection (b): (i) Arch shall be
and remain primarily liable to the Administrator, Market Street and the LC Bank for the full and prompt performance of all duties and responsibilities of the Servicer hereunder and (ii) the Administrator, Market Street and the LC Bank shall be
entitled to deal exclusively with Arch in matters relating to the discharge by the Servicer of its duties and responsibilities hereunder. The Administrator, Market Street and the LC Bank shall not be required to give notice, demand or other
communication to any Person other than Arch in order for communication to the Servicer and its sub-servicer or other delegate with respect thereto to be accomplished. Arch, at all times that it is the Servicer, shall be responsible for providing any
sub-servicer or other delegate of the Servicer with any notice given to the Servicer under this Agreement. 

  
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 Section 8.2 Duties of Servicer. 

(a) The Servicer shall take or cause to be taken all such actions as may be necessary or advisable to collect each
Receivable from time to time, all in accordance with applicable laws, rules and regulations, with reasonable care and diligence, and in accordance with the Credit and Collection Policy. 

(b) The Servicer will instruct all Obligors to pay all Collections directly to a Lock-Box or Collection Account. The
Servicer shall effect a Collection Account Agreement in a form reasonably acceptable to the Administrator with each bank party to a Collection Account at any time. In the case of any remittances received in any Lock-Box or Collection Account that
shall have been identified, to the satisfaction of the Servicer, to not constitute Collections or other proceeds of the Receivables or the Related Security, the Servicer shall promptly remit such items to the Person identified to it as being the
owner of such remittances. From and after the date the Administrator delivers to any Collection Bank a Collection Notice pursuant to Section 8.3, the Administrator may request that the Servicer, and the Servicer thereupon promptly shall
instruct all Obligors with respect to the Receivables, to remit all payments thereon to a new depositary account specified by the Administrator and, at all times thereafter, the Seller and the Servicer shall not deposit or otherwise credit, and
shall not permit any other Person to deposit or otherwise credit to such new depositary account any cash or payment item other than Collections. 
 (c) The Servicer shall administer the Collections in accordance with the procedures described herein and in Article II. The Servicer shall set aside and hold in trust for the account of the Seller,
Market Street and the LC Bank their respective shares of the Collections in accordance with Article II. The Servicer shall, upon the request of the Administrator during the occurrence of an Unmatured Amortization Event, segregate, in a manner
acceptable to the Administrator, all cash, checks and other instruments received by it from time to time constituting Collections from the general funds of the Servicer or the Seller prior to the remittance thereof in accordance with Article
II. If the Servicer shall be required to segregate Collections pursuant to the preceding sentence, the Servicer shall segregate and deposit with a bank designated by the Administrator such allocable share of Collections of Receivables set aside
for Market Street and the LC Bank on the first Business Day following receipt by the Servicer of such Collections, duly endorsed or with duly executed instruments of transfer. 

(d) The Servicer may, in accordance with the Credit and Collection Policy, extend the maturity of any Receivable or adjust
the Outstanding Balance of any Receivable as the Servicer determines to be appropriate to maximize Collections thereof; provided, however, that such extension or adjustment shall not alter the status of such Receivable as a Delinquent
Receivable or Defaulted Receivable or limit the rights of the Administrator, Market Street or the LC Bank under this Agreement. The Administrator shall have the right to direct the Servicer to commence or settle any legal action with respect to any
Receivable (whether or not such Receivable is a Defaulted or Delinquent Receivable) of an Obligor which is an Obligor under any Defaulted or Delinquent Receivable; provided, however, that the Servicer shall not be required to comply
with such direction if the Seller determines, in its reasonable business judgment, that it is preferable not to enforce or settle any Delinquent or Defaulted Receivable, in which case such Defaulted or Delinquent Receivable (and, at the option of
the Administrator, any other Receivable of such Obligor) shall be treated as a Deemed Collection, and payment shall be made thereon in a manner consistent with Section 1.4. 

  
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 (e) The Servicer shall hold in trust for the Seller and the Administrator,
Market Street and the LC Bank all Records that (i) evidence or relate to the Receivables, the related Contracts and Related Security or (ii) are otherwise necessary or desirable to collect the Receivables and shall, as soon as practicable
upon demand of the Administrator during the occurrence of an Unmatured Amortization Event, deliver or make available to the Administrator all such Records (other than any Record that contains confidentiality provisions (except for Records as to
which the related Obligor has consented to such delivery) that cannot be satisfied by the execution and delivery of a confidentiality agreement), at a place selected by the Administrator. The Servicer shall, as soon as practicable following receipt
thereof turn over to the Seller any cash collections or other cash proceeds received with respect to Indebtedness not constituting Receivables. The Servicer shall, from time to time at the request of the Administrator, Market Street or the LC Bank,
furnish to Market Street and the LC Bank (promptly after any such request) a calculation of the amounts set aside for Market Street and the LC Bank pursuant to Article II. 

(f) Any payment by an Obligor in respect of any indebtedness owed by it to any Originator or the Seller shall, except as
otherwise specified by such Obligor or otherwise required by contract or law and unless otherwise instructed by the Administrator, be applied as a Collection of any Receivable of such Obligor (starting with the oldest such Receivable) to the extent
of any amounts then due and payable thereunder before being applied to any other receivable or other obligation of such Obligor. 
 Section 8.3 Collection Notices. 
 The Administrator is
authorized at any time to date and to deliver to the Collection Banks the Collection Notices. The Seller hereby transfers to the Administrator for the benefit of Market Street and the LC Bank, effective when the Administrator delivers such notice,
the exclusive ownership and control of each Lock-Box and the Collection Accounts. In case any authorized signatory of the Seller whose signature appears on a Collection Account Agreement shall cease to have such authority before the delivery of such
notice, such Collection Notice shall nevertheless be valid as if such authority had remained in force. The Seller hereby authorizes the Administrator, and agrees that the Administrator shall be entitled (a) at any time after delivery of the
Collection Notices, to endorse the Seller’s name on checks and other instruments representing Collections, (b) at any time after the occurrence of an Amortization Event, to enforce the Receivables, the related Contracts and the Related
Security, and (c) at any time after the occurrence of an Amortization Event, to take such action as shall be necessary or desirable to cause all cash, checks and other instruments constituting Collections of Receivables to come into the
possession of the Administrator rather than the Seller. 

  
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 Section 8.4 Responsibilities of the Seller. 

Anything herein to the contrary notwithstanding, the exercise by the Administrator, on behalf of Market Street and the LC Bank, of the
Administrator’s rights hereunder shall not release the Servicer, any Originator or the Seller from any of their duties or obligations with respect to any Receivables or under the related Contracts. The Administrator, Market Street and the LC
Bank shall have no obligation or liability with respect to any Receivables or related Contracts, nor shall any of them be obligated to perform the obligations of the Seller or any Originator thereunder. 

Section 8.5 Receivables Reports. 

The Servicer shall prepare and forward to the Administrator (a) on each Monthly Reporting Date, a Monthly Report
and an electronic file of the data contained therein, (b) at such times as the Administrator may request upon reasonable advance notice, a listing by Obligor of all Receivables together with an aging of such Receivables, (c) on the last
Business Day of each month from June through and including November, a Collateral Certificate as of the 15th day of such month and an electronic file of the data contained therein, if the Seller requests a Purchase during such month and has not
delivered a Collateral Certificate or a Monthly Report within the two weeks preceding the proposed Purchase Date and (d) on the day two (2) Business Days after the request of the Administrator during the months of June through and
including November, a Collateral Certificate as of the
15th day of such month and an electronic file of the data
contained therein; provided, however, that the Administrator’s request under this Section 8.5(d) shall be limited to no more than one per month. 
 Section 8.6 Servicing Fee. 
 As compensation for the
Servicer’s servicing activities on their behalf, the Servicer shall be paid the Servicing Fee in arrears on each Settlement Date out of Collections. 
 Article IX 
 Amortization Events 

Section 9.1 Amortization Events. 
 The occurrence of any one or more of the following events shall constitute an Amortization Event: 
 (a) Any of the Seller Parties shall fail to make any payment or deposit required to be made by it under the Transaction Documents and such failure shall continue for three (3) Business Days.

 (b) (i) Any representation or warranty made by any of the Seller Parties in this Agreement or the Receivables
Sale Agreement shall prove to have been incorrect in any respect when made or deemed made, (ii) any information contained in any Monthly Report shall prove to have been incorrect in any respect when made, or (iii) any representation,
warranty, certification or statement (other than relating to projections or other forward-looking information) made by any of the Seller Parties in any other 

  
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Transaction Document or in any other document delivered pursuant hereto or thereto (other than in a Monthly Report) shall prove to have been incorrect in any material respect when made or deemed
made; provided, that no such event shall constitute an Amortization Event unless such event is unremedied for a period of ten (10) Business Days after the earlier to occur of (i) written notice thereof shall have been given by the
Administrator to such Seller Party or (ii) an Authorized Officer of such Seller Party shall have actual knowledge thereof or should have had knowledge thereof if such Authorized Officer had exercised reasonable care in the performance of his or
her duties; provided, further, that no grace period shall apply to Section 5.1(f), 5.1(i), 5.1(j), 5.1(n), 5.1(p), 5.1(u) or 5.1(v); and provided, further, no such event shall
constitute an Amortization Event if the Seller shall have timely paid to the Administrator the Deemed Collection required to be paid as a result of such event in accordance with Section 1.4. 

(c) Any of the Seller Parties shall fail to perform or observe any covenant contained in Section 7.2 or
Section 8.5 when due. 
 (d) Any of the Seller Parties shall fail to perform or observe any other
covenant or agreement under any Transaction Documents and such failure shall continue for ten (10) consecutive Business Days. 
 (e) Failure of the Seller to pay any Indebtedness (other than the Aggregate Unpaids) when due or the default by the Seller in the performance of any term, provision or condition contained in any agreement
under which any such Indebtedness was created or is governed, the effect of which is to cause, or to permit the holder or holders of such Indebtedness to cause, such Indebtedness to become due prior to its stated maturity; or any such Indebtedness
of the Seller shall be declared to be due and payable or required to be prepaid (other than by a regularly scheduled payment) prior to the date of maturity thereof. 

(f) Failure of Arch or any of its Subsidiaries other than the Seller to pay Indebtedness in excess of $10,000,000 in
aggregate principal amount (hereinafter, “Material Indebtedness”) when due (after giving effect to any applicable grace periods with respect thereto); or the default by Arch or any of its Subsidiaries other than the Seller in the
performance of any term, provision or condition contained in any agreement under which any Material Indebtedness was created or is governed, the effect of which is to cause, or to permit the holder or holders of such Material Indebtedness to cause,
such Material Indebtedness to become due prior to its stated maturity and, unless such Material Indebtedness is earlier accelerated, such default is not cured within 15 days after its occurrence; or any Material Indebtedness of Arch or any of its
Subsidiaries other than the Seller shall be declared to be due and payable or required to be prepaid (other than by a regularly scheduled payment) prior to the date of maturity thereof. 

(g) An Event of Bankruptcy shall occur with respect to any Seller Party or any of its Subsidiaries. 

  
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 (h) As at the end of any Calculation Period: 

(i) the three-month rolling average Delinquency Ratio shall exceed (y) for the periods ending in April through
August, 4.0% and (z) for all other periods, 7.0%, 
 (ii) the three-month rolling average Default Ratio
shall exceed 2.5%, 
 (iii) the three-month rolling average Dilution Ratio shall exceed 8.0%, 

(iv) the Account Receivable Turnover Ratio shall be less than 6.0%, or 

(v) the Days Sales Outstanding Ratio shall be less than 80.0. 

(i) A Change of Control shall occur. 

(j) (i) One or more final judgments of a court of competent jurisdiction for the payment of money in an aggregate amount
of $12,500 or more shall be entered against the Seller or (ii) one or more final judgments of a court of competent jurisdiction for the payment of money in an amount in excess of $10,000,000, individually or in the aggregate, shall be entered
against Arch or any of its Subsidiaries (other than the Seller) on claims not covered by insurance or as to which the insurance carrier has denied its responsibility, and such judgment shall continue unsatisfied and in effect for sixty
(60) consecutive days without a stay of execution. 
 (k) The “Termination Date” under and as
defined in the Receivables Sale Agreement shall occur under the Receivables Sale Agreement or any Originator shall for any reason cease to transfer, or cease to have the legal capacity to transfer, or otherwise be incapable of transferring
Receivables to the Seller under the Receivables Sale Agreement. 
 (l) This Agreement shall terminate in whole or
in part (except in accordance with its terms), or shall cease to be effective or to be the legally valid, binding and enforceable obligation of the Seller, or any Originator shall directly or indirectly contest in any manner such effectiveness,
validity, binding nature or enforceability, or the Administrator for the benefit of Market Street and the LC Bank shall cease to have a valid and perfected first priority security interest in the Receivables, its Collections, “Supporting
Obligations” (as defined in Article 9 of the UCC in effect in each relevant jurisdiction), the Seller’s right, title and interest in, to and under each of the Transaction Documents to which it is a party, returned goods the sale of which
gave rise to any Receivable, security interests in favor of the Seller that secures payment of such Receivable and all other items of Related Security in which an interest therein may be perfected by the filing of a financing statement under Article
9 of the UCC and proceeds of the foregoing, or any Person shall contest the Administrator’s perfected first priority ownership interest in that portion of the Related Security in which perfection cannot be accomplished under Article 9 of the
relevant UCC, or any Secured Party shall incur any loss resulting from the Seller’s failure to perfect Administrator’s ownership interest in that portion of the Related Security in which perfection cannot be accomplished under Article 9 of
the relevant UCC. 

  
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 (m) On any day, the Aggregate Invested Amount shall exceed the Purchase
Limit, and such failure shall continue unremedied for three (3) Business Days. 
 (n) The Internal Revenue
Service shall file notice of a lien pursuant to Section 6323 of the Tax Code with regard to any of the Receivables or the Related Security or the PBGC shall, file notice of a lien pursuant to Section 4068 of ERISA with regard to any of the
Receivables or the Related Security, and any such lien shall not have been released within the earlier to occur of (i) seven (7) days after the date of such filing and (ii) the day on which the Administrator becomes aware of such
filing. 
 (o) Any Plan of any Seller Party or any of its ERISA Affiliates: 

(i) shall fail to be funded in accordance with the minimum funding standard required by applicable law, the terms of such
Plan, Section 412 of the Tax Code or Section 302 of ERISA for any plan year or a waiver of such standard is sought or granted with respect to such Plan under applicable law, the terms of such Plan or Section 412 of the Tax Code or
Section 303 of ERISA; or 
 (ii) is being, or has been, terminated or the subject of termination proceedings
under applicable law or the terms of such Plan; or 
 (iii) shall require Arch or any of its ERISA Affiliates to
provide security under applicable law, the terms of such Plan, Section 401 or 412 of the Tax Code or Section 306 or 307 of ERISA; or 
 (iv) results in a liability to Arch or any of its ERISA Affiliates under applicable law, the terms of such Plan, or Title IV ERISA, 
 and there shall result from any such failure, waiver, termination or other event a liability to the PBGC or a Plan that would have a Material Adverse Effect. 

(p) Any event shall occur which has, or could be reasonably expected to have a Material Adverse Effect. 

(q) On any day a report is required to be delivered in accordance with Section 8.5, the Asset Coverage Ratio
is less than 1.0, and such failure shall continue unremedied for three (3) Business Days. 
 (r) Any Letter
of Credit is drawn upon and, unless as a result of the LC Bank’s failure to provide the notice required by Section 1.9, not fully reimbursed pursuant to Section 1.9 (including, if applicable, with the proceeds of
any funding by the Issuer) within one Business Day from the date of such draw 
 Section 9.2 Remedies.

 Upon the occurrence and during the continuation of an Amortization Event, the Administrator may, or upon the direction of
LC Bank or the Required Liquidity Banks shall, take any of the following actions: (a) except upon a Voluntary Termination (unless another 

  
 40 

 
Amortization Event occurs), replace the Person then acting as Servicer, (b) declare the Facility Termination Date to have occurred, whereupon Reinvestments shall immediately terminate and
the Facility Termination Date shall forthwith occur, all without demand, protest or further notice of any kind, all of which are hereby expressly waived by the Seller Parties; provided, however, that upon the occurrence of an Event of
Bankruptcy with respect to a Seller Party, the Facility Termination Date shall automatically occur, without demand, protest or any notice of any kind, all of which are hereby expressly waived by such Seller Party, (c) deliver the Collection
Notices to the Collection Banks, (d) exercise all rights and remedies of a secured party upon default under the UCC and other applicable laws, and (e) notify Obligors of the Administrator’s security interest in the Receivables and
other Purchased Assets. The aforementioned rights and remedies shall be without limitation, and shall be in addition to all other rights and remedies of the Administrator, Market Street and the LC Bank otherwise available under any other provision
of this Agreement, by operation of law, at equity or otherwise, all of which are hereby expressly preserved, including, without limitation, all rights and remedies provided under the UCC, all of which rights shall be cumulative. 

Article X 

Indemnification 
 Section 10.1 Indemnities by the Seller Parties. 
 Without
limiting any other rights that the Administrator, Market Street or the LC Bank may have hereunder or under applicable law, (a) the Seller hereby agrees to indemnify (and pay upon demand to) the Administrator, Market Street, the LC Bank, each of
the Liquidity Banks and each of the respective assigns, officers, directors, agents and employees of the foregoing (each, an “Indemnified Party”) from and against any and all damages, losses, claims, taxes, liabilities,
costs, expenses and for all other amounts payable, including reasonable attorneys’ fees and disbursements (all of the foregoing being collectively referred to as “Indemnified Amounts”) awarded against or incurred by any
of them arising out of or as a result of this Agreement or the acquisition, either directly or indirectly, by Market Street or any of its Liquidity Banks or the LC Bank of an interest in the Receivables, and (b) the Servicer hereby agrees to
indemnify (and pay upon demand to) each Indemnified Party for Indemnified Amounts awarded against or incurred by any of them arising out of the Servicer’s activities as Servicer hereunder excluding, however, in all of the
foregoing instances under the preceding clauses (a) and (b): 
 (i) Indemnified Amounts to the
extent a final judgment of a court of competent jurisdiction holds that such Indemnified Amounts resulted from gross negligence or willful misconduct on the part of the Indemnified Party seeking indemnification; 

(ii) Indemnified Amounts to the extent the same includes losses in respect of Receivables that are uncollectible on
account of the insolvency, bankruptcy or lack of creditworthiness of the related Obligor; or 

  
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 (iii) taxes imposed by the United States, the Indemnified Party’s
jurisdiction of organization (or in the case of an individual, his or her jurisdiction of primary residence) or any other jurisdiction in which such Indemnified Party has established a taxable nexus other than in connection with the transactions
contemplated hereby, on or measured by the overall net income of such Indemnified Party to the extent that the computation of such taxes is consistent with the characterization for income tax purposes of the acquisition by Market Street and/or the
LC Bank of Receivables as a loan or loans by Market Street or the LC Bank to the Seller secured by the Receivables, the Related Security, the Collection Accounts and the Collections; 
 provided, however, that nothing contained in this sentence shall limit the liability of the Seller Parties or limit the recourse of Market Street or the LC Bank to the Seller Parties for
amounts otherwise specifically provided to be paid by the Seller Parties under the terms of this Agreement. Without limiting the generality of the foregoing indemnification, the Seller shall indemnify the Administrator, Market Street and the LC Bank
for Indemnified Amounts (including, without limitation, losses in respect of uncollectible receivables, regardless of whether reimbursement therefor would constitute recourse to the Seller or the Servicer) relating to or resulting from: 

(i) any representation or warranty made by a Seller Party or any Originator (or any officers of any such Person) under or
in connection with this Agreement, any other Transaction Document or any other information or report delivered by any such Person pursuant hereto or thereto, which shall have been false or incorrect when made or deemed made; 

(ii) the failure by the Seller, the Servicer or any Originator to comply in any material respect with any applicable law,
rule or regulation with respect to any Receivable or Contract related thereto, or the nonconformity of any Receivable or Contract included therein with any such applicable law, rule or regulation or any failure of any Originator to keep or perform
any of its obligations, express or implied, with respect to any Contract; 
 (iii) any failure of the Seller, the
Servicer or any Originator to perform in any material respect its duties, covenants or other obligations in accordance with the provisions of this Agreement or any other Transaction Document; 

(iv) any products liability, personal injury or damage suit, or other similar claim arising out of or in connection with
merchandise, insurance or services that are the subject of any Contract or any Receivable; 
 (v) any dispute,
claim, offset or defense (other than discharge in bankruptcy of the Obligor) of the Obligor to the payment of any Receivable (including, without limitation, a defense based on such Receivable or the related Contract not being a legal, valid and
binding obligation of such Obligor enforceable against it in accordance with its terms), or any other claim resulting from the sale of the merchandise or service related to such Receivable or the furnishing or failure to furnish such merchandise or
services; 

  
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 (vi) the commingling of Collections of Receivables at any time with other
funds; 
 (vii) any investigation, litigation or proceeding related to or arising from this Agreement or any
other Transaction Document, the transactions contemplated hereby, the use of the proceeds of any Purchase, the Purchased Assets or any other investigation, litigation or proceeding relating to the Seller, the Servicer or any Originator in which any
Indemnified Party becomes involved as a result of any of the transactions contemplated hereby; 
 (viii) any
inability to litigate any claim against any Obligor in respect of any Receivable as a result of such Obligor being immune from civil and commercial law and suit on the grounds of sovereignty or otherwise from any legal action, suit or proceeding;

 (ix) any Amortization Event of the type described in Section 9.1(g); 

(x) any failure of the Seller to acquire and maintain legal and equitable title to, and ownership of any of the Purchased
Assets from the applicable Originator, free and clear of any Adverse Claim (other than as created hereunder); or any failure of the Seller to give reasonably equivalent value to any Originator under the Receivables Sale Agreement in consideration of
the transfer by such Originator of any Receivable, or any attempt by any Person to void such transfer under statutory provisions or common law or equitable action (except as created by the Transaction Documents); 

(xi) any failure to vest and maintain vested in the Administrator for the benefit of Market Street and the LC Bank, or to
transfer to the Administrator for the benefit of the Secured Parties, a valid first priority perfected security interests in the Purchased Assets, free and clear of any Adverse Claim (except as created by the Transaction Documents); 

(xii) the failure to have filed, or any delay in filing, financing statements or other similar instruments or documents
under the UCC of any applicable jurisdiction or other applicable laws with respect to any Purchased Assets, and the proceeds thereof, whether at the time of any Purchase or at any subsequent time; 

(xiii) any action or omission by a Seller Party which reduces or impairs the rights of the Administrator, Market Street or
the LC Bank with respect to any Purchased Assets or the value of any Purchased Assets; 
 (xiv) any attempt by
any Person to void any Purchase or the Administrator’s security interest in the Purchased Assets under statutory provisions or common law or equitable action; and 

  
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 (xv) the failure of any Receivable included in the calculation of the Net
Pool Balance as an Eligible Receivable to be an Eligible Receivable at the time so included. 
 Section 10.2
Increased Cost and Reduced Return. 
 If after the date hereof, any Funding Source or the LC Bank shall be charged any
fee, expense or increased cost (other than taxes) on account of the adoption of any applicable law, rule or regulation (including any applicable law, rule or regulation regarding capital adequacy) or any change therein, or any change in the
interpretation or administration thereof by any governmental authority, central bank or comparable agency charged with the interpretation or administration thereof, or compliance with any request or directive (whether or not having the force of law)
of any such authority, central bank or comparable agency or on account of the adoption of any change in (or change in the interpretation of) any generally accepted accounting principles or regulatory account principles applicable to such Funding
Source or the LC Bank (a “Regulatory Change”): (a) that subjects (or has the effect of subjecting) any Funding Source or the LC Bank to any charge or withholding on or with respect to any Funding Agreement or a Funding
Source’s obligations under a Funding Agreement or any Letter of Credit, as applicable, or on or with respect to the Receivables, or (b) that imposes, modifies or deems applicable (or has the effect of imposing, modifying or deeming
applicable) any reserve assessment, insurance charge, special deposit or similar requirement against assets of, deposits with or for the account of a Funding Source or the LC Bank, or credit extended by a Funding Source or the LC Bank pursuant to a
Funding Agreement or a Letter of Credit, as applicable or (c) that imposes (or has the effect of imposing) any other condition the result of which is to increase the cost to a Funding Source or the LC Bank of performing its obligations under a
Funding Agreement or a Letter of Credit, as applicable, or to reduce the rate of return on a Funding Source’s or the LC Bank’s capital as a consequence of its obligations under a Funding Agreement or a Letter of Credit, as applicable, or
to reduce the amount of any sum received or receivable by a Funding Source or LC Bank under a Funding Agreement or a Letter of Credit, as applicable or to require any payment calculated by reference to the amount of interests or loans held or
interest received by it, then, promptly upon demand by the Administrator, the Seller shall pay to the Administrator, for the benefit of the relevant Funding Source or LC Bank, as applicable, such amounts charged to such Funding Source or the LC Bank
or such amounts to otherwise compensate such Funding Source or the LC Bank for such increase costs or such reduction; provided, however, that no Funding Source or LC Bank shall be entitled to any compensation for any increased
costs under this Section 10.2 unless the Administrator, such Funding Source or the LC Bank delivers a reasonably detailed certificate to the Seller setting forth the amounts and the basis for such increased costs. For avoidance of doubt,
any interpretation or implementation of Accounting Research Bulleting No. 51 by the Financial Accounting Standards Board (including Interpretation No. 46: Consolidation of Variable Interest Entities) promulgated after the date hereof shall
constitute an adoption, change, request or directive, and any implementations thereof shall be a “Regulatory Change.” 

  
 44 

 Section 10.3 Other Costs and Expenses. 

The Seller shall pay to the Administrator, Market Street and the LC Bank promptly on demand all reasonable costs and out-of-pocket
expenses in connection with the preparation, execution, delivery and administration of the Transaction Documents and the transactions contemplated thereby, the Liquidity Agreement, any Letter of Credit and, to the extent directly related to this
Agreement, the Program Documents (including any amendments or modifications of or supplements to the Program Documents directly related to this Agreement), including without limitation, the cost of Market Street’s and the LC Bank’s
auditors auditing the books, records and procedures of the Seller, reasonable fees and out-of-pocket expenses of legal counsel for Market Street, the LC Bank and the Administrator with respect thereto and with respect to advising Market Street and
the LC Bank and the Administrator as to their respective rights and remedies under this Agreement. The Seller shall pay to the Administrator promptly on demand any and all reasonable costs and expenses of the Administrator, Market Street and LC
Bank, if any, including reasonable counsel fees and expenses in connection with the enforcement of this Agreement and the other documents delivered hereunder and in connection with any restructuring or workout of this Agreement or such documents, or
the administration of this Agreement following an Amortization Event. The Seller shall reimburse Market Street and the LC Bank promptly on demand for all other costs and expenses incurred by Market Street or the LC Bank (“Other
Costs”), including, without limitation, the cost of auditing Market Street’s or the LC Bank’s books by certified public accountants, the cost of rating the Commercial Paper by independent financial rating agencies, and the
reasonable fees and out-of-pocket expenses of counsel for Market Street and the LC Bank or any counsel for any shareholder of Market Street or the LC Bank with respect to advising Market Street or the LC Bank or such shareholder as to matters
relating to Market Street’s or the LC Bank’s operations. 
 Section 10.4 Allocations. 

Market Street and the LC Bank shall in its reasonable judgment allocate the liability for Other Costs among the Seller and other Persons
with whom Market Street or the LC Bank has entered into agreements to purchase interests in or finance receivables and other financial assets (“Other Customers”). If any Other Costs are attributable to the Seller and not
attributable to any Other Customer, the Seller shall be solely liable for such Other Costs. However, if Other Costs are attributable to Other Customers and not attributable to the Seller, such Other Customer shall be solely liable for such Other
Costs. All allocations to be made pursuant to the foregoing provisions of this Article X shall be made by Market Street and the LC Bank in their sole discretion and shall be binding on the Seller and the Servicer. 

Article XI 

The Administrator 
 Section 11.1 Authorization and Action. 
 Each of Market Street
and the LC Bank, on behalf of itself and its assigns, hereby designates and appoints PNC to act as its agent and administrator under this Agreement and under each other Transaction Document, and authorizes the Administrator to take such actions as
agent on its behalf and to exercise such powers as are delegated to the Administrator by the terms of this Agreement and the other Transaction Documents together with such powers as are reasonably incidental thereto, including, without limitation,
the power to perfect all security interests granted under the Transaction Documents. 

  
 45 

 Section 11.2 PNC and Affiliates. 

PNC and its Affiliates may generally engage in any kind of business with Seller, Servicer, any Obligor, any of their respective Affiliates
and any Person who may do business with or own securities of any of the foregoing, all as if PNC were not Administrator and without any duty to account therefor to Market Street or the LC Bank. 

Article XII 
 Assignments and Participations 
 Section 12.1 Assignments and
Participations by Market Street and the LC Bank. 
 (a) Each of the parties hereto, on behalf of its
successors and assigns, hereby agrees and consents to the complete or partial sale by Market Street of all or any portion of its rights under, interest in, title to and obligations under this Agreement to the Liquidity Banks pursuant to the
Liquidity Agreement, regardless of whether such sale constitutes an assignment or the sale of a participation in such rights and obligations. The LC Bank, with the prior written consent of the Administrator and the Seller (such consent not to
be unreasonably withheld, conditioned or delayed), may assign any of its interests, rights and obligations hereunder to an Eligible Assignee; provided, that (i) the amount to be assigned by the LC Bank hereunder shall not be
less than $5,000,000 and (ii) prior to the effective date of any such assignment, the assignee and assignor shall have executed and delivered to the Administrator an assignment and acceptance agreement in form and substance satisfactory to the
Administrator; provided, further, that the Seller’s consent shall not be required if an Amortization Event or Unmatured Amortization Event has occurred and is continuing. 

(b) Notwithstanding anything contained in Section 12.1(a), the LC Bank may sell participations in all or
any part of any Incremental Purchase or Incremental Purchases made by it to another bank or other entity (the “LC Participant”) so long as (i) no such grant of a participation shall, without the consent of the Seller, require
the Seller to file a registration statement with the SEC and (ii) no holder of any such participation shall be entitled to require it to take or omit to take any action hereunder except that it may agree with such participant that, without such
LC Participant’s consent, it will not consent to an amendment, modification or waiver referred to in Section 13.1. Any such LC Participant shall not have any rights hereunder or under the Transaction Documents except that such LC
Participant shall have rights under Sections 10.2 and 10.3 hereunder as if it were the LC Bank hereunder; provided that no such LC Participant shall be entitled to receive any payment pursuant to such sections which is
greater in amount than the payment which the LC Bank would have otherwise been entitled to receive in respect of the participation interest so sold. 

  
 46 

 Section 12.2 Prohibition on Assignments by the Seller Parties.

 No Seller Party may assign any of its rights or obligations under this Agreement without the prior written consent of the
Administrator, Market Street and the LC Bank and without satisfying the Rating Agency Condition. 
 Article XIII

 Miscellaneous 
 Section 13.1 Waivers and Amendments. 
 No failure or delay on
the part of the Administrator, Market Street or the LC Bank in exercising any power, right or remedy under this Agreement shall operate as a waiver thereof, nor shall any single or partial exercise of any such power, right or remedy preclude any
other further exercise thereof or the exercise of any other power, right or remedy. The rights and remedies herein provided shall be cumulative and nonexclusive of any rights or remedies provided by law. Any waiver of this Agreement shall be
effective only in the specific instance and for the specific purpose for which given. No provision of this Agreement may be amended, supplemented, modified or waived except in writing in accordance with the provisions of this
Section 13.10. Market Street, the LC Bank, the Seller and the Administrator, may enter into written modifications or waivers of any provisions of this Agreement, provided, however, that any material amendment, waiver or
other modification of this Agreement shall require satisfaction of the Rating Agency Condition. 
 Section 13.2
Notices. 
 Except as provided in this Section 13.2, all communications and notices provided for hereunder
shall be in writing (including bank wire, telecopy or electronic facsimile transmission or similar writing) and shall be given to the other parties hereto at their respective addresses or telecopy numbers set forth on the signature pages hereof or
at such other address or telecopy number as such Person may hereafter specify for the purpose of notice to each of the other parties hereto. Each such notice or other communication shall be effective (a) if given by telecopy, upon the receipt
thereof, (b) if given by mail, three (3) Business Days after the time such communication is deposited in the mail with first class postage prepaid or (c) if given by any other means, when received at the address specified in this
Section 13.2. The Seller hereby authorizes the Administrator to effect Purchases and Interest Period and Yield Rate selections based on telephonic notices made by any Person whom the Administrator in good faith believes to be acting on
behalf of the Seller. The Seller agrees to deliver promptly to the Administrator a written confirmation of each telephonic notice signed by an authorized officer of the Seller; provided, however, the absence of such confirmation shall
not affect the validity of such notice. If the written confirmation differs from the action taken by the Administrator, the records of the Administrator shall govern absent manifest error. 

Section 13.3 Protection of Administrator’s Security Interest. 

(a) The Seller agrees that from time to time, at its expense, it will promptly execute and deliver all instruments and
documents, and take all actions, that may be necessary or desirable, or that the Administrator may request, to perfect, protect or more 

  
 47 

 
fully evidence the Administrator’s security interest in the Purchased Assets, or to enable the Administrator, Market Street or the LC Bank to exercise and enforce their rights and remedies
hereunder; provided, however, that unless and until an Amortization Event or an Unmatured Amortization Event has occurred, no Seller Party shall be required to take any actions to establish, maintain or perfect the Seller’s
ownership interest in the Related Security other than the filing of financing statements under the UCC of all appropriate jurisdictions. During the occurrence and continuance of an Unmatured Amortization Event or an Amortization Event, the
Administrator may, or the Administrator may direct the Seller or the Servicer to, notify the Obligors of Receivables, at the Seller’s expense, of the ownership or security interests of Market Street or the LC Bank under this Agreement. During
the occurrence and continuance of an Unmatured Amortization Event or an Amortization Event, the Administrator may direct the Seller or Servicer (and if the Seller or Servicer fails to do so) Administrator may direct that payments of all amounts due
or that become due under any or all Receivables be made directly to an account specified by the Administrator or its designee which may be an account of the Administrator or its designee. The Seller or the Servicer (as applicable) shall, at the
Administrator’s request, withhold the identities of the Administrator, Market Street and the LC Bank in any such notification. 
 (b) If any Seller Party fails to perform any of its obligations hereunder, the Administrator, Market Street or the LC Bank may (but shall not be required to) upon notice to such Seller Party perform, or
cause performance of, such obligations, and the Administrator’s, Market Street’s or the LC Bank’s costs and expenses incurred in connection therewith shall be payable by the Seller as provided in Section 10.3. The Seller
Parties irrevocably authorize the Administrator at any time and from time to time in the sole discretion of the Administrator, and appoints the Administrator as its attorney-in-fact, to act on behalf of the Seller Parties (i) to execute on
behalf of the Seller as debtor and to file financing statements necessary or desirable in the Administrator’s sole discretion to perfect and to maintain the perfection and priority of the interest of Market Street and the LC Bank in the
Receivables and (ii) to file a carbon, photographic or other reproduction of this Agreement or any financing statement with respect to the Receivables as a financing statement in such offices as the Administrator in its sole discretion deems
necessary or desirable to perfect and to maintain the perfection and priority of the Administrator’s security interest in the Purchased Assets, for the benefit of the Secured Parties. This appointment is coupled with an interest and is
irrevocable. Each of the Seller Parties hereby authorizes the Administrator to file financing statements and other filing or recording documents with respect to the Receivables and Related Security (including any amendments thereto, or continuation
or termination statements thereof), without the signature or other authorization of the Seller Parties, in such form and in such offices as the Administrator reasonably determines appropriate to perfect or maintain the perfection of the security
interest of the Administrator hereunder including, without limitation, financing statements naming Seller as debtor describing the collateral as “all assets” or “all personal property of the debtor, whether now owned and existing or
hereafter arising or acquired.” Each of the Seller Parties acknowledges and agrees that it is not authorized to, and will not, file financing statements or other filing or recording documents with respect to the Receivables or Related Security
(including any amendments thereto, or continuation or termination statements thereof), without the 

  
 48 

 
express prior written approval by the Administrator, consenting to the form and substance of such filing or recording document. Each of the Seller Parties approves, authorizes and ratifies any
filings or recordings made by or on behalf of the Administrator in connection with the perfection of the security interests in favor of the Seller or the Administrator. 
 Section 13.4 Confidentiality. 
 (a) Each of the
Seller Parties shall maintain and shall cause each of its employees and officers to maintain the confidentiality of any confidential or proprietary information with respect to the Administrator, Market Street and the LC Bank and their respective
businesses obtained by it or them in connection with the structuring, negotiating and execution of the transactions contemplated herein, except that the Seller Parties and their respective officers and employees may disclose such information to such
Seller Party’s directors, external accountants and attorneys and in accordance with any applicable law, rule, regulation, direction, request or order of any judicial, administrative or regulatory authority or proceeding (whether or not having
the force or effect of law). 
 (b) Anything herein to the contrary notwithstanding, the Seller Parties hereby
consent to the disclosure of any nonpublic information with respect to it (i) to the Administrator, the Liquidity Banks, the LC Bank or Market Street by each other, (ii) by the Administrator, Market Street or the LC Bank to any prospective
or actual assignee or participant of any of them and (iii) by the Administrator to any rating agency, Commercial Paper dealer or provider of a surety, guaranty or credit or liquidity enhancement to Market Street or any entity organized for the
purpose of purchasing, or making loans secured by, financial assets for which PNC acts as the administrator or agent and to any officers, directors, employees, outside accountants and attorneys of any of the foregoing, provided that
each such Person is informed of the confidential nature of such information. In addition, Market Street, the LC Bank and the Administrator may disclose any such nonpublic information in accordance with any law, rule, regulation, direction, request
or order of any judicial, administrative or regulatory authority or proceedings (whether or not having the force or effect of law). 
 (c) Market Street, the LC Bank and the Administrator shall each maintain and shall cause each of its employees and officers to maintain the confidentiality of any confidential or proprietary information
with respect to each Originator, the Obligors and their respective businesses obtained by it in connection with the due diligence evaluations, structuring, negotiating and execution of the Transaction Documents, and the consummation of the
transactions contemplated herein and any other activities of Market Street, the LC Bank or the Administrator arising from or related to the transactions contemplated herein provided, however, that each of Market Street, the LC Bank and
the Administrator and its employees and officers shall be permitted to disclose such confidential or proprietary information: (i) to any Liquidity Bank, (ii) to any prospective or actual assignee or participant of Market Street, the LC
Bank or the Administrator who execute a confidentiality agreement for the benefit of any Originator and Seller on terms comparable to those required of Market Street, the LC Bank and the Administrator hereunder with respect to such disclosed
information, (iii) to any rating agency, provider of a surety, guaranty or credit or liquidity enhancement to Market Street, (iv) to any 

  
 49 

 
officers, directors, employees, outside accountants and attorneys of any of the foregoing, and (v) to the extent required pursuant to any applicable law, rule, regulation, direction, request
or order of any judicial, administrative or regulatory authority or proceedings with competent jurisdiction (whether or not having the force or effect of law). 
 (d) Notwithstanding any other express or implied agreement to the contrary contained herein, the parties agree and acknowledge that each of them and each of their employees, representatives, and other
agents may disclose to any and all persons, without limitation of any kind, the tax treatment and tax structure of the transaction and all materials of any kind (including opinions or other tax analyses) that are provided to any of them relating to
such tax treatment and tax structure, except to the extent that confidentiality is reasonably necessary to comply with U.S. federal or state securities laws. For purposes of this paragraph, the terms “tax treatment” and “tax
structure” have the meanings specified in Treasury Regulation section 1.6011-4(c). 
 Section 13.5 Bankruptcy
Petition. 
 The Seller, the Servicer, the Administrator, the LC Bank and each Liquidity Bank hereby covenants and agrees
that, prior to the date that is one year and one day after the payment in full of all outstanding senior indebtedness of Market Street, it will not institute against, or join any other Person in instituting against, Market Street any bankruptcy,
reorganization, arrangement, insolvency or liquidation proceedings or other similar proceeding under the laws of the United States or any state of the United States. 
 Section 13.6 Limitation of Liability. 
 Except with respect to
any claim arising out of the willful misconduct or gross negligence of Market Street, the Administrator, the LC Bank or any Liquidity Bank, no claim may be made by a Seller Party or any other Person against Market Street, the Administrator, the LC
Bank or any Liquidity Bank or their respective Affiliates, directors, officers, employees, attorneys or agents for any special, indirect, consequential or punitive damages in respect of any claim for breach of contract or any other theory of
liability arising out of or related to the transactions contemplated by this Agreement, or any act, omission or event occurring in connection therewith; and the Seller Parties hereby waive, release, and agree not to sue upon any claim for any such
damages, whether or not accrued and whether or not known or suspected to exist in its favor. 

  
 50 

 Section 13.7 No Recourse Against Market Street. 

The obligations of Market Street under this Agreement are solely the limited liability company obligations of Market Street. No recourse
shall be had for any obligation, covenant or agreement (including, without limitation, the payment of any amount owing in respect to this Agreement or the payment of any Fee hereunder or for any other obligation or claim) arising out of or based
upon this Agreement or any other agreement, instrument or Transaction Document entered into pursuant hereto or in connection herewith against any member, employee, officer, director, manager, administrator or organizer of Market Street, as such, by
the enforcement of any assessment or by any legal or equitable proceeding, by virtue of any statute or otherwise. 

Section 13.8 Limitation on Payments. 
 Notwithstanding any provisions contained in this Agreement to the contrary, Market Street shall not, and shall not be obligated to, pay any amount pursuant to this Agreement unless (a) Market Street
has received funds which may be used to make such payment and which funds are not required to repay the Commercial Paper when due and (b) after giving effect to such payment, either (i) there is sufficient liquidity availability
(determined in accordance with the Program Documents), under all of the liquidity facilities for Market Street’s commercial paper program, to pay the “Face Amount” (as defined below) of all outstanding Commercial Papers when due or
(ii) all Commercial Papers are paid in full. Any amount which Market Street does not pay pursuant to the operation of the preceding sentence shall not constitute a claim (as defined in §101 of the Bankruptcy Code) against or an obligation
of Market Street for any such insufficiency unless and until such payment may be made in accordance with clauses (a) and (b) above. The agreements in this Section shall survive termination of this Agreement and payment of all
obligations hereunder. As used in this Section, the term “Face Amount” means, with respect to outstanding Commercial Papers, (x) the face amount of any such Commercial Papers issued on a discount basis, and (y) the principal
amount of, plus the amount of all interest accrued and to accrue thereon to the stated maturity date of, any such Commercial Papers issued on an interest-bearing basis. 
 Section 13.9 CHOICE OF LAW. 
 THIS AGREEMENT SHALL BE GOVERNED
AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO THE PRINCIPLES OF CONFLICTS OF LAWS THEREOF OTHER THAN SECTION 5-1401 OF THE GENERAL OBLIGATIONS LAW AND EXCEPT TO THE EXTENT THAT THE PERFECTION OF THE OWNERSHIP
INTEREST OF SELLER OR THE SECURITY INTEREST OF THE ADMINISTRATOR, FOR THE BENEFIT OF THE SECURED PARTIES, IN ANY OF THE COLLATERAL IS GOVERNED BY THE LAWS OF A JURISDICTION OTHER THAN THE STATE OF NEW YORK. 

Section 13.10 CONSENT TO JURISDICTION. 
 EACH PARTY TO THIS AGREEMENT HEREBY IRREVOCABLY SUBMITS TO THE NON-EXCLUSIVE JURISDICTION OF ANY UNITED STATES FEDERAL OR NEW YORK STATE COURT SITTING IN NEW YORK, NEW YORK, IN ANY ACTION OR

  
 51 

 
PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY DOCUMENT EXECUTED BY SUCH PERSON PURSUANT TO THIS AGREEMENT, AND EACH SUCH PARTY HEREBY IRREVOCABLY AGREES THAT ALL CLAIMS IN
RESPECT OF SUCH ACTION OR PROCEEDING MAY BE HEARD AND DETERMINED IN ANY SUCH COURT AND IRREVOCABLY WAIVES ANY OBJECTION IT MAY NOW OR HEREAFTER HAVE AS TO THE VENUE OF ANY SUCH SUIT, ACTION OR PROCEEDING BROUGHT IN SUCH A COURT OR THAT SUCH COURT IS
AN INCONVENIENT FORUM. NOTHING HEREIN SHALL LIMIT THE RIGHT OF THE ADMINISTRATOR, MARKET STREET OR THE LC BANK TO BRING PROCEEDINGS AGAINST ANY SELLER PARTY IN THE COURTS OF ANY OTHER JURISDICTION. ANY JUDICIAL PROCEEDING BY ANY SELLER PARTY AGAINST
THE ADMINISTRATOR, MARKET STREET OR THE LC BANK OR ANY AFFILIATE OF THE ADMINISTRATOR, MARKET STREET OR THE LC BANK INVOLVING, DIRECTLY OR INDIRECTLY, ANY MATTER IN ANY WAY ARISING OUT OF, RELATED TO, OR CONNECTED WITH THIS AGREEMENT OR ANY DOCUMENT
EXECUTED BY SUCH SELLER PARTY PURSUANT TO THIS AGREEMENT SHALL BE BROUGHT ONLY IN A COURT IN NEW YORK, NEW YORK. 

Section 13.11 WAIVER OF JURY TRIAL. 
 EACH PARTY HERETO HEREBY WAIVES TRIAL BY JURY IN ANY JUDICIAL PROCEEDING INVOLVING, DIRECTLY OR INDIRECTLY, ANY MATTER (WHETHER SOUNDING IN TORT, CONTRACT OR OTHERWISE) IN ANY WAY ARISING OUT OF, RELATED
TO, OR CONNECTED WITH THIS AGREEMENT, ANY DOCUMENT EXECUTED BY ANY SELLER PARTY PURSUANT TO THIS AGREEMENT OR THE RELATIONSHIP ESTABLISHED HEREUNDER OR THEREUNDER. 
 Section 13.12 Integration; Binding Effect; Survival of Terms. 
 (a) This Agreement and each other Transaction Document contain the final and complete integration of all prior expressions by the parties hereto with respect to the subject matter hereof and shall
constitute the entire agreement among the parties hereto with respect to the subject matter hereof superseding all prior oral or written understandings. 
 (b) This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns (including any trustee in bankruptcy). This Agreement shall
create and constitute the continuing obligations of the parties hereto in accordance with its terms and shall remain in full force and effect until terminated in accordance with its terms; provided, however, that the rights and
remedies with respect to (i) any breach of any representation and warranty made by the Seller Parties pursuant to Article V, (ii) the indemnification and payment provisions of Article X, and the provisions of
Section 13.4 through and including Section 13.14 shall be continuing and shall survive any termination of this Agreement. 
 (c) Each of the Seller Parties, Market Street, the LC Bank and the Administrator hereby acknowledges and agrees that the Liquidity Banks are hereby made express third party beneficiaries of this Agreement
and each of the other Transaction Documents. 

  
 52 

 (d) This Agreement amends and restates the Existing Agreement in its
entirety, effective as of the Closing Date, and is not intended to constitute a novation of the obligations thereunder. Nothing contained herein shall terminate any security interests or subordinations previously granted in favor of TPF or STRH in
connection with the Existing Agreement and the transactions contemplated thereby; such security interests and subordinations are being assigned by TPF and STRH to Market Street and the Administrator, as applicable; and such security interest and
subordinations shall continue in full force and effect in favor of Market Street, the LC Bank and the Administrator, as applicable, from and after the Closing Date. 
 Section 13.13 Counterparts; Severability; Section References. 

This Agreement may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when
so executed shall be deemed to be an original and all of which when taken together shall constitute one and the same Agreement. Delivery of an executed counterpart of a signature page to this Agreement by fax or other means of electronic
transmission shall be effective as delivery of a manually executed counterpart of a signature page to this Agreement. Any provisions of this Agreement which are prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be
ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in
any other jurisdiction. Unless otherwise expressly indicated, all references herein to “Article,” “Section,” “Schedule” or “Exhibit” shall mean articles and sections of, and schedules and exhibits to, this
Agreement. 
 Section 13.14 Characterization. 

(a) It is the intention of the parties hereto that, other than for federal, state and local income and franchise tax
purposes, each Purchase hereunder shall constitute and be treated as an absolute and irrevocable sale, which Purchase shall provide Market Street and/or the LC Bank with the full benefits of ownership of the applicable Purchased Assets. Except as
specifically provided in this Agreement, each sale of a Purchased Asset hereunder is made without recourse to the Seller; provided, however, that (i) the Seller shall be liable to Market Street, the LC Bank and the Administrator
for all representations, warranties, covenants and indemnities made by the Seller pursuant to the terms of this Agreement, and (ii) such sale does not constitute and is not intended to result in an assumption by Market Street, the LC Bank or
the Administrator or any assignee thereof of any obligation of the Seller or any Originator or any other person arising in connection with the Receivables, the Related Security, or the related Contracts, or any other obligations of the Seller or any
Originator. It is the intention of the parties hereto that for federal, state and local income and franchise tax purposes Market Street’s and/or the LC Bank’s acquisition of the Purchased Assets shall be treated as a secured loan by Market
Street and the LC Bank to the Seller, and each party hereto agrees to characterize all Purchases hereunder as secured loans on all tax returns filed by such party 

  
 53 

 (b) In addition to any ownership interest which the Administrator, Market
Street or the LC Bank may from time to time acquire pursuant hereto, the Seller hereby grants to the Administrator for the ratable benefit of Market Street, each Liquidity Bank and the LC Bank a valid security interest in all of the Seller’s
right, title and interest, whether now owned or hereafter acquired, in, to and under all Receivables now existing or hereafter arising, the Collections, each Lock-Box, each Collection Account, all Related Security, all other rights and payments
relating to such Receivables, all proceeds of the foregoing and all other assets of the Seller prior to all other liens on and security interests therein to secure the prompt and complete payment of the Aggregate Unpaids. The Administrator, on
behalf of Market Street, each Liquidity Bank and the LC Bank, shall have, in addition to the rights and remedies that it may have under this Agreement, all other rights and remedies provided to a secured creditor under the UCC and other applicable
law, which rights and remedies shall be cumulative. 
 [signature pages follow] 

  
 54 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed and
delivered by their duly authorized officers or attorneys-in-fact as of the date hereof. 
  

			
	ARCH CHEMICALS RECEIVABLES CORP.
		
	By:	 	/s/ W. Paul Bush
	Name:	 	W. Paul Bush
	Title:	 	VP and Treasurer
	
	 Address:
 US
Mail:
 c/o Arch Chemicals, Inc.

501 Merritt 7
 P.O. Box 5204

Norwalk, CT 06856-5204
  
 Hand Delivery:
 c/o Arch Chemicals, Inc.

501 Merritt 7
 Norwalk, CT 06851

 
 Attention: Corporate Secretary

Telephone No.: (203) 229-3576
 Facsimile No.:
(203) 229-3143

	
	ARCH CHEMICALS, INC.
		
	By:	 	/s/ W. Paul Bush
	Name:	 	W. Paul Bush
	Title:	 	Treasurer
	
	 Address:
 US
Mail:
 501 Merritt 7
 P.O. Box
5204
 Norwalk, CT 06856-5204
  

Hand Delivery:
 501 Merritt 7

Norwalk, CT 06851
  
 Attention: Corporate Secretary
 Telephone No.: (203) 229-2900

Facsimile No.: (203) 229-2713

  
 55 

  

			
	MARKET STREET FUNDING LLC
		
	By:	 	/s/ Doris J. Hearn
	Name:	 	Doris J. Hearn
	Title:	 	Vice President

  

	
	Address:
	Market Street Funding LLC
	c/o AMACAR Group, L.L.C.
	6525 Morrison Boulevard, Suite 318
	Charlotte, North Carolina 28211
	Attention: Douglas K. Johnson
	Telephone No. 704-365-0569
	Facsimile No.: 704-365-1362
	  
 With a copy to:

	  
 PNC Bank, National Association

	One PNC Plaza, 26th Floor
	249 Fifth Avenue
	Pittsburgh, Pennsylvania 15222-2707
	Attention: William Falcon
	Telephone No.: 412-762-5442
	Facsimile No.: 412-762-9184

  
 56 

  

			
	 PNC BANK, NATIONAL ASSOCIATION,
 as Administrator

		
	By:	 	/s/ William P. Falcon
	Name:	 	William P. Falcon
	Title:	 	Vice President

  

	
	Address:
	PNC Bank, National Association
	One PNC Plaza, 26th Floor
	249 Fifth Avenue
	Pittsburgh, Pennsylvania 15222-2707
	Attention: William Falcon
	Telephone No.: 412-762-5442
	Facsimile No.: 412-762-9184

  
 57 

  

			
	 PNC BANK, NATIONAL ASSOCIATION,
 as LC Bank

		
	By:	 	/s/ Robert M. Martin
	Name:	 	Robert M. Martin
	Title:	 	Senior Vice President

  

	
	Address:
	PNC Bank, National Association
	Two Tower Center
	East Brunswick, NJ 08816
	Attention: Robert Martin
	Telephone No.: 203-861-0219
	Facsimile No.: 203-861-0340

  
 58 

 EXHIBIT I 
 DEFINITIONS 
 As used in the Agreement and the Exhibits and Schedules thereto, the
following terms shall have the meanings set forth in this Exhibit I (such meanings to be equally applicable to both the singular and plural forms of the terms defined). If a capitalized term is used in the Agreement, or any Exhibit or Schedule
thereto, and is not otherwise defined therein or in this Exhibit I, such term shall have the meaning assigned thereto in Exhibit I to the Receivables Sale Agreement (hereinafter defined). 

Accounts Receivable Turnover Ratio: As of any Cut-Off Date, the ratio computed by dividing (a) the aggregate amount of Receivables generated
during the 12 Calculation Periods ending on such Cut-Off Date by (b) the average of the aggregate Outstanding Balance of all Receivables as of the last 12 Cut-Off Dates; provided that in no event shall any Excluded Receivable be included
in the numerator or denominator of the foregoing computation. 
 Adjusted Dilution Ratio: At any time, the rolling average of the
Dilution Ratio for the 12 Calculation Periods then most recently ended. 
 Administrator: As defined in the preamble to this Agreement.

 Administrator’s Account: Administrator’s Account # 1002422076, ABA No. 043000096, at PNC’s office at One PNC
Plaza, 249 Fifth Avenue, Pittsburgh, Pennsylvania, Attn: William Falcon, Reference: Market Street Funding LLC/Arch Chemicals Receivables Corp. Transaction. 
 Adverse Claim: A lien, security interest, charge or encumbrance, or other right or claim in, of or on any Person’s assets or properties in favor of any other Person. 

Affiliate: With respect to any Person, any other Person directly or indirectly controlling, controlled by, or under direct or indirect common
control with, such Person or any Subsidiary of such Person. A Person shall be deemed to control another Person if the controlling Person owns 10% or more of any class of voting securities of the controlled Person or possesses, directly or
indirectly, the power to direct or cause the direction of the management or policies of the controlled Person, whether through ownership of stock, by contract or otherwise. 
 Aggregate Invested Amount: On any date of determination, the sum of (a) the aggregate Invested Amount of Purchased Assets of Market Street plus (b) the LC Amount outstanding on such date.

 Aggregate Reduction: As defined in Section 1.3(b). 
 Aggregate Unpaids: At any time, an amount equal to the sum of (a) the Aggregate Invested Amount, plus (b) all Recourse Obligations (whether due or accrued) at such time. 

Agreement: This Amended and Restated Receivables Purchase Agreement, as it may be amended or modified and in effect from time to time. 

  
 I-1

 Alternate Base Rate: For any day, the rate per annum equal to the sum of (a) the higher as of
such day of (i) the Prime Rate, or (ii) one-half of one percent (0.50%) above the Federal Funds Effective Rate, plus (b) the Applicable Margin. For purposes of determining the Alternate Base Rate for any day, changes in the Prime Rate
or the Federal Funds Effective Rate shall be effective on the date of each such change. 
 Amortization Date: The earliest to occur of
(a) the day on which any of the conditions precedent set forth in Section 6.2 are not satisfied, (b) the Business Day immediately prior to the occurrence of an Event of Bankruptcy with respect to a Seller Party, (c) the
Business Day specified in a written notice from the Administrator following the occurrence of any other Amortization Event, and (d) the date which is ten (10) Business Days after the Administrator’s receipt of written notice from the
Seller that it wishes to terminate the facility evidenced by this Agreement. 
 Amortization Event: As defined in Article IX.

 Applicable Margin: As defined in the Fee Letter. 
 Arch: Arch Chemicals, Inc. 
 Asset Coverage Ratio: As of any date of determination,
the ratio computed by dividing (a) the sum of (i) the Net Pool Balance and (ii) the amount of cash collateral held in the LC Collateral Account, by (b) the sum of (i) Aggregate Invested Amount, plus (ii) the Required
Reserve. 
 Authorized Officer: With respect to any Person, its president, chief executive officer, any vice president, corporate
controller, treasurer or chief financial officer. 
 Broken Funding Costs: For any Purchased Asset which: (a) is funded with Pooled
Commercial Paper and has its Invested Amount reduced without compliance by the Seller with the notice requirements hereunder, or which is funded with other Commercial Paper and has its Investment Amount reduced on any date other than a Settlement
Date, or (b) does not become subject to an Aggregate Reduction following the delivery of any Reduction Notice or (c) is assigned by Market Street to the Liquidity Banks under the Liquidity Agreement or terminated prior to the date on which
it was originally scheduled to end; an amount equal to the excess, if any, of (i) the CP Costs or Yield (as applicable) that would have accrued during the remainder of the Interest Periods or the tranche periods for Commercial Paper determined
by the Administrator to relate to such Purchased Asset (as applicable) subsequent to the date of such reduction, assignment or termination (or in respect of clause (b) above, the date such Aggregate Reduction was designated to occur
pursuant to the Reduction Notice) of the Invested Amount of such Purchased Asset if such reduction, assignment or termination had not occurred or such Reduction Notice had not been delivered, over (ii) the sum of (A) to the extent all or a
portion of such Invested Amount is allocated to another Purchased Asset, the amount of CP Costs or Yield actually accrued during the remainder of such period on such Invested Amount for the new Purchased Asset, and (B) to the extent such
Invested Amount is not allocated to another Purchased Asset, the income, if any, actually received during the remainder of such period by the holder of such Purchased Asset from investing the portion of such Invested Amount not so allocated.

  
 I-2

 Business Day: Any day on which banks are not authorized or required to close in New York,
New York, Philadelphia, Pennsylvania or Pittsburgh, Pennsylvania, and, (a) if the applicable Business Day relates to any computation or payment to be made with respect to the LIBO Rate, any day on which dealings in dollar deposits are
carried on in the London interbank market, and (b) if the applicable Business Day relates to any computation or payment to be made with respect to any Purchased Asset funded through the issuance of Commercial Paper or any CP Costs, any day on
which commercial paper markets in the United States are open. 
 Calculation Period: A calendar month. 

Canadian Obligor: An Obligor which, if a natural person, is a resident of an Eligible Province or Territory, or, if a corporation or other
business organization, is organized under the laws of Canada or any Eligible Province or Territory and has its chief executive office in an Eligible Province or Territory. 
 Cash Purchase Price: With respect to any Incremental Purchase of a Purchased Asset, the amount paid to the Seller for such Purchased Asset which shall not exceed the least of (a) the amount
requested by the Seller in the applicable Purchase Notice, (b) the unused portion of the Purchase Limit on the applicable purchase date and (c) the excess, if any, of the Net Pool Balance (less the Required Reserve) on the applicable
purchase date over the aggregate outstanding amount of Aggregate Invested Amount determined as of the date of the most recent Monthly Report or Collateral Certificate. 
 Change of Control: (a) the acquisition by any Person, or two or more Persons acting in concert, of beneficial ownership (within the meaning of Rule 13d-3 of the Securities and Exchange
Commission under the Securities Exchange Act of 1934) of 51% or more of the outstanding shares of voting stock entitled to elect a majority of the board of directors of Arch, or (b) Arch ceases to own 100% of the outstanding shares of voting
stock of the Seller. 
 Charge-Offs: All Receivables (other than Excluded Receivables) not previously deemed Defaulted Receivables that
are written off by the Servicer or should, in accordance with the Credit and Collection Policy, be written off as uncollectible. 
 Closing
Date: October 6, 2009. 
 Collateral Certificate: A certificate, in substantially the form of Exhibit IX hereto
(appropriately completed), furnished by the Servicer to the Administrator pursuant to Section 8.5. 
 Collection Account:
Each concentration account, depositary account, lock-box account or similar account in which any Collections are collected or deposited and which is listed on Exhibit IV. 
 Collection Account Agreement: An agreement in form reasonably acceptable to the Administrator among an Originator, Servicer, the Seller, the Administrator and a Collection Bank establishing control
over a Collection Account. 
 Collection Bank: At any time, any of the banks holding one or more Collection Accounts. 

  
 I-3

 Collection Notice: A notice, in substantially the form attached to a Collection Account Agreement
from the Administrator to a Collection Bank. 
 Collections: With respect to any Receivable, all cash collections and other cash proceeds
in respect of such Receivable, including, without limitation, all Finance Charges or other related amounts accruing in respect thereof and all cash proceeds of Related Security with respect to such Receivable. 

Commercial Paper: Promissory notes of Market Street issued by Market Street in the commercial paper market to fund the Purchased Assets.

 Commitment: (a) As to Market Street, its commitment to make Purchases up to $80,000,000 and (b) as to the LC Bank, its
commitment to issue or to cause the issuance of Letters of Credit up to $30,000,000, as each such dollar amount may be reduced pursuant to Section 1.1(b) of this Agreement. 
 Concentration Limit: 
 (a) For any Group A Obligor 12.0% of
the aggregate Outstanding Balance of all Eligible Receivables; 
 (b) For any Group B Obligor, 6.0% of the
aggregate Outstanding Balance of all Eligible Receivables; or 
 (c) For any Group C Obligor, 4.0% of the
aggregate Outstanding Balance of all Eligible Receivables; 
 (d) For any Group D Obligor, 3.0% of the aggregate
Outstanding Balance of all Eligible Receivables; 
 (e) For any Special Obligor, 27.5% of the aggregate
Outstanding Balance of all Eligible Receivables; 
 (f) For all Canadian Obligors in the aggregate, 5.0% of the
aggregate Outstanding Balance of all Eligible Receivables; 
 (g) For all Permitted Government Receivables, 3.0%
of the aggregate Outstanding Balance of all Eligible Receivables; 
 (h) For all Receivables with terms allowing
for payment within 91-180 days after invoice date, 25.0% of the aggregate Outstanding Balance of all Eligible Receivables; 
 (i) For all Receivables denominated in Canadian Dollars, 5.0% of the aggregate Outstanding Balance of all Eligible Receivables; 
 provided that the limitations set forth in the foregoing clauses (a)-(e) shall apply to each specified Obligor and its Affiliates, considered as if they were one and the same Person;
provided further that with respect to a single Canadian Obligor, the Group C Obligor and Group D Obligor Concentration Limits set forth above shall apply. 

  
 I-4

 Confidential Contracts: Those Contracts which require that their existence or terms not be disclosed
to third parties, including Market Street, the LC Bank or the Administrator. 
 Contingent Obligation: Of a Person means any agreement,
undertaking or arrangement by which such Person assumes, guarantees, endorses, contingently agrees to purchase or provide funds for the payment of, or otherwise becomes or is contingently liable upon, the obligation or liability of any other Person,
or agrees to maintain the net worth or working capital or other financial condition of any other Person, or otherwise assures any creditor of such other Person against loss, including, without limitation, any comfort letter, operating agreement,
take-or-pay contract or application for a letter of credit. 
 Contract: With respect to any Receivable, any and all instruments,
agreements, invoices or other writings pursuant to which such Receivable arises or which evidences such Receivable. 
 CP Costs: For each
day, the sum of (a) discount or interest accrued on that portion of Market Street’s Commercial Paper that is allocated to fund the Purchased Assets, plus (b) any and all accrued commissions in respect of placement agents and
commercial paper dealers, and issuing and paying agent fees incurred, in respect of such Commercial Paper for such day, plus (c) other costs associated with funding small or odd-lot amounts with respect to all receivable purchase or financing
facilities which are funded by such Commercial Paper for such day, plus (d) the Applicable Margin, minus (e) any accrual of income net of expenses received on such day from investment of collections received under all receivable purchase
or financing facilities funded substantially with such Commercial Paper for such day, minus (f) any payment received on such day net of expenses in respect of Broken Funding Costs related to the prepayment of any investment of Market Street
pursuant to the terms of any receivable purchase or financing facilities funded substantially with such Commercial Paper. In addition to the foregoing costs, if the Seller shall request any Purchase during any period of time determined by the
Administrator in its sole discretion to result in incrementally higher CP Costs applicable to such Purchase, the principal associated with any such Purchase shall, during such period, be deemed to be funded by Market Street in a special pool (which
may include capital associated with other receivable purchase or financing facilities) for purposes of determining such additional CP Costs applicable only to such special pool and charged each day during such period against such principal.

 Credit Agreement: That certain Revolving Credit Agreement, dated as of June 15, 2006, among the Servicer, Banc of America
Securities, L.L.C., as Joint Lead Arranger and Joint Book Manager, Bank of America, National Association, and Citizens Bank of Massachusetts, as Co-Syndication Agents, the lenders party thereto, J.P. Morgan Securities Inc., as Joint Lead Arranger
and Joint Book Manager, STRH, as Documentation Agent, and JPMorgan Chase Bank, N.A., as Administrative Agent, as amended through the date of Amendment No. 3 to this Agreement without giving effect to any amendments thereto after the date
of Amendment No. 3 to this Agreement unless specifically consented to in writing by the Administrator. 

  
 I-5

 Credit and Collection Policy: The Seller’s credit and collection policies and practices relating
to Contracts and Receivables existing on the date hereof and summarized in Exhibit VII hereto, as modified from time to time in accordance with this Agreement. 
 Cut-Off Date: The last day of a Calculation Period. 
 Days Sales Outstanding
Ratio: On any date of determination, the ratio computed as of the most recent Cut-Off Date by dividing (a) the average of the aggregate Outstanding Balance of all Receivables as of the last 3 Cut-Off Dates by (b) the
quotient of (i) the aggregate amount of Receivables generated during the 3 Calculation Periods ending on such Cut-Off Date divided by (ii) 90. 
 Deemed Collections: Collections deemed received by the Seller under Section 1.4. 
 Default Horizon Ratio: As of any Cut-Off Date, the ratio (expressed as a decimal) computed by dividing (a) the sum of (i) the aggregate Receivables (other than Excluded Receivables)
generated by the Originators during the four (4) Calculation Periods ending on such Cut-Off Date, plus (ii) the lesser of (A) 100% or (B) the Weighted Average Credit Percentage multiplied by the aggregate Receivables (other than
Excluded Receivables) generated by the Originators during the Calculation Period ending four (4) months prior to such Cut-Off Date, plus, only if the Weighted Average Credit Percentage is greater than 100%, (iii) the product of
(A) the Weighted Average Credit Percentage minus 100% multiplied by (B) the aggregate Receivables (other than Excluded Receivables) generated by the Originators during the Calculation Period ending five (5) months prior to such
Cut-Off Date, by (b) the Net Pool Balance as of such Cut-Off Date. 
 Default Rate: A rate per annum equal to the greater of
(a) sum of (i) the Alternate Base Rate plus (ii) 3.0%, changing when and as the Alternate Base Rate changes and (b) the sum of (i) the LIBO Rate plus (ii) 1.50% changing when and as such LIBO Rate changes. 

Default Ratio: As of any Cut-Off Date, the ratio (expressed as a percentage) computed by dividing (a) the total amount (without
double-counting) of Receivables (other than Excluded Receivables) which became Defaulted Receivables or Charge-Offs during the Calculation Period that includes such Cut-Off Date, by (b) the aggregate Receivables (other than Excluded
Receivables) generated by the Originators during the Calculation Period occurring six (6) months prior to the Calculation Period ending on such Cut-Off Date. 
 Defaulted Receivable: A Receivable (other than an Excluded Receivable): (a) as to which the Obligor thereof has suffered an Event of Bankruptcy; (b) which, consistent with the Credit and
Collection Policy, would be written off the Seller’s books as uncollectible; or (c) as to which any payment, or part thereof, remains unpaid for 121 days or more from the original due date for such payment. 

Deferred Purchase Price: With respect to any Incremental Purchase of Purchased Assets, the amount available pursuant to Clause seventh of
Sections 2.2(b) and 2.3. 
 Delinquency Ratio: At any time, a percentage equal to (a) the aggregate Outstanding
Balance of all Receivables (other than Excluded Receivables) that were Delinquent Receivables at such time divided by (b) the aggregate Outstanding Balance of all Receivables (other than Excluded Receivables) at such time. 

  
 I-6

 Delinquent Receivable: A Receivable (other than an Excluded Receivable) as to which any payment, or
part thereof, remains unpaid for more than 60 days from the original due date for such payment. 
 Dilution: The amount of any reduction
or cancellation of the Outstanding Balance of a Receivable (other than an Excluded Receivable) as described in Section 1.4. 

Dilution Reserve: On any date of determination, computed as of the most recent Cut-Off Date, the product of (a) the sum of (i) the
product of (A) the Stress Factor times (B) the Adjusted Dilution Ratio plus (ii) the Dilution Volatility Component times (b) the Dilution Horizon Ratio. 

Dilution Horizon Ratio: As of any Cut-Off Date, a ratio (expressed as a decimal), computed by dividing (a) the aggregate Receivables (other
than Excluded Receivables) generated by the Originators during the two previous Calculation Periods ending on such Cut-Off Date, by (b) the Net Pool Balance as of such Cut-Off Date. 
 Dilution Ratio: As of any Cut-Off Date, a ratio (expressed as a percentage), computed by dividing (a) the total amount of decreases in Outstanding Balances due to Dilutions during the
Calculation Period ending on such Cut-Off Date, by (b) the aggregate Receivables (other than Excluded Receivables) generated by the Originators during the Calculation Period occurring two (2) months prior to the Calculation Period ending
on such Cut-Off Date. 
 Dilution Volatility Component: The product (expressed as a percentage) of (a) the difference between
(i) the highest two (2)-month rolling average Dilution Ratio over the past 12 Calculation Periods and (ii) the Adjusted Dilution Ratio, and (b) a fraction, the numerator of which is equal to the amount calculated in (a)(i) of
this definition and the denominator of which is equal to the amount calculated in (a)(ii) of this definition. 
 Drawing Date As
defined in Section 1.9. 
 Eligible Assignee: A commercial bank having a combined capital and surplus of at least
$250,000,000 with a rating of its (or its parent holding company’s) short-term securities equal to or higher than (a) A-1 by S&P and (b) P-1 by Moody’s. 
 Eligible Province or Territory: Ontario, British Columbia, Prince Edward Island, Saskatchewan, Alberta and The Yukon. 
 Eligible Receivable: At any time, a Receivable: 
 (a) the
Obligor of which (i) if a natural person, is a resident of the United States or an Eligible Province or Territory, or, if a corporation or other business organization, is organized under the laws of the United States or any political
subdivision thereof and has its chief executive office in the United States or under the laws of Canada or any Eligible Province or Territory and has its chief executive office in an Eligible Province or Territory, and (ii) is not an Affiliate
of any of the parties hereto, 

  
 I-7

 (b) that arises under a Contract, 

(c) which is not a Defaulted Receivable or a Delinquent Receivable, 

(d) which is not a Government Receivable other than a Permitted Government Receivable, 

(e) which by its terms is due and payable within 180 days of the original billing date therefor and has not had its
payment terms extended more than once, 
 (f) which is an “account” within the meaning of
Section 9-102(a)(2) of the UCC of all applicable jurisdictions, 
 (g) which is denominated and payable only
in United States dollars or Canadian dollars in the United States or Canada, 
 (h) which arises under a Contract
which, together with such Receivable, is in full force and effect and constitutes the legal, valid and binding obligation of the related Obligor enforceable against such Obligor in accordance with its terms, 

(i) which arises under a Contract that contains an obligation to pay a specified sum of money, contingent only upon the
sale of goods or the provision of services by the applicable Originator, 
 (j) which, together with the Contract
related thereto, does not contravene any law, rule or regulation applicable thereto (including, without limitation, any law, rule and regulation relating to truth in lending, fair credit billing, fair credit reporting, equal credit opportunity, fair
debt collection practices and privacy) and with respect to which no part of the Contract related thereto is in violation of any such law, rule or regulation except any such contravention or violation which does not have an adverse effect on the
Receivables, 
 (k) which satisfies all applicable requirements of the Credit and Collection Policy, 

(l) which was generated in the ordinary course of the applicable Originator’s business, 

(m) which arises from the sale of goods, or the provision of services, to the related Obligor by the applicable
Originator, and except for incidental amounts, relating to, for example the delivery or shipment of the related goods to the Obligor, not from the sale of goods or provision of services by any other Person (in whole or in part), 

(n) which is not subject to any current dispute, right of rescission, set-off, counterclaim or any other defense
(including defenses arising out of violations of usury laws) of the applicable Obligor against the applicable Originator or any other Adverse Claim, and the Obligor thereon holds no right as against such Originator to cause such Originator to
repurchase the goods or merchandise the sale of which shall have given rise 

  
 I-8

 
to such Receivable (except with respect to sale discounts effected pursuant to the Contract, or defective goods returned in accordance with the terms of the Contract); provided, however, that if
such dispute, offset, counterclaim or defense affects only a portion of the Outstanding Balance of such Receivable, then such Receivable may be deemed an Eligible Receivable to the extent of the portion of such Outstanding Balance which is not so
affected, and provided, further, that Receivables of any Obligor which has any accounts payable by the applicable Originator or by a wholly-owned Subsidiary of such Originator (thus giving rise to a potential offset against such Receivables) may be
treated as Eligible Receivables to the extent that the Obligor of such Receivables has agreed pursuant to a written agreement in form and substance satisfactory to the Administrator, that such Receivables shall not be subject to such offset,

 (o) as to which the applicable Originator has satisfied and fully performed all obligations on its part with
respect to such Receivable required to be fulfilled by it, and no further action is required to be performed by any Person with respect thereto other than payment thereon by the applicable Obligor, 

(p) as to which each of the representations and warranties contained in Section 5.1(g),
Section 5.1(i), Section 5.1(j), Section 5.1(r), Section 5.1(s), Section 5.1(t) and Section 5.1(u) is true and correct; 

(q) all right, title and interest to and in which has been validly transferred by the applicable Originator directly to
the Seller under and in accordance with the Receivables Sale Agreement, and the Seller has good and marketable title thereto free and clear of any Adverse Claim; and 

(r) The Obligor of which is not Vitafoam Canada. 
 ERISA: The Employee Retirement Income Security Act of 1974, as amended from time to time, and any rule or regulation issued thereunder. 
 ERISA Affiliate: Any trade or business (whether or not incorporated) under common control with Arch within the meaning of Section 414(b) or (c) of the Tax Code (and Sections 414(m) and
(o) of the Tax Code for purposes of provisions relating to Section 412 of the Tax Code). 
 Event of Bankruptcy: Shall be
deemed to have occurred with respect to a Person if either: 
 (a) a case or other proceeding shall be commenced,
without the application or consent of such Person, in any court, seeking the liquidation, reorganization, debt arrangement, dissolution, winding up, or composition or readjustment of debts of such Person, the appointment of a trustee, receiver,
custodian, liquidator, assignee, sequestrator or the like for such Person or all or substantially all of its assets, or any similar action with respect to such Person under any law relating to bankruptcy, insolvency, reorganization, winding up or
composition or adjustment of debts, and such case or proceeding shall continue undismissed, or unstayed and in effect, for a period of 60 consecutive days; or an order for relief in respect of such Person shall be entered in an involuntary case
under the federal bankruptcy laws or other similar laws now or hereafter in effect; or 

  
 I-9

 (b) such Person shall commence a voluntary case or other proceeding under
any applicable bankruptcy, insolvency, reorganization, debt arrangement, dissolution or other similar law now or hereafter in effect, or shall consent to the appointment of or taking possession by a receiver, liquidator, assignee, trustee (other
than a trustee under a deed of trust, indenture or similar instrument), custodian, sequestrator (or other similar official) for, such Person or for any substantial part of its property, or shall make any general assignment for the benefit of
creditors, or shall be adjudicated insolvent, or admit in writing its inability to pay its debts generally as they become due, or, if a corporation or similar entity, its board of directors shall vote to implement any of the foregoing. 

Excess Concentration Amount: At any time with respect to any Obligor, group of Obligors or group of Receivables described in clauses (a)-(i)
of the definition of “Concentration Limit” (but without duplication), the amount, if any, by which the aggregate Outstanding Balance of all Eligible Receivables of such Obligor, group of Obligors, or group of Receivables, exceeds the
Concentration Limit for such Obligor, group of Obligors, or group of Receivables in each case, at such time. 
 Excluded Receivable: Any
Receivable as to which the Obligor (a) if a natural person, is a resident of a province of territory of Canada that is not an Eligible Province or Territory, or, (b) if a corporation or other business organization, is organized under the
laws of a province or territory of Canada (other than an Eligible Province or Territory) or any political subdivision thereof and has its chief executive office in a province or territory of Canada (other than an Eligible Province or Territory), or
(c) is Vitafoam Canada. 
 Facility Account: The Seller’s account no. 1028866222 at PNC. 

Facility Termination Date: The earliest to occur of (a) the Liquidity Termination Date, (b) the Amortization Date, (c) the
Scheduled LC Terminate Date and (d) October 5, 2010. 
 Federal Bankruptcy Code: Title 11 of the United States Code entitled
“Bankruptcy,” as amended and any successor statute thereto. 
 Federal Funds Effective Rate: means, for any day the greater of
(a) the average rate per annum as determined by PNC at which overnight Federal funds are offered to PNC for such day by major banks in the interbank market, and (b) if PNC is borrowing overnight funds from a Federal Reserve Bank that day,
the average rate per annum at which such overnight borrowings are made on that day. Each determination of the Federal Funds Effective Rate by PNC shall be conclusive and binding on the Seller except in the case of manifest error. 

Fee Letter: That certain letter agreement dated as of the date hereof among the Seller, Arch and the Administrator, as it may be amended, restated
or otherwise modified and in effect from time to time. 
 Final Payout Date: The date on which all Aggregate Unpaids have been paid in
full and the Purchase Limit has been reduced to zero. 
 Finance Charges: With respect to a Contract, any finance, interest, late payment
charges or similar charges owing by an Obligor pursuant to such Contract. 

  
 I-10

 Foreign Currency Reserve: An amount equal to 10% of the U.S. dollar spot market-equivalent of all
Eligible Receivables otherwise included in the Net Pool Balance which are denominated in Canadian dollars. 
 Funding Agreement:
(a) the Liquidity Agreement (b) any other Program Support Agreement and (c) any other agreement or instrument executed by any Funding Source with or for the benefit of Market Street. 

Funding Source: (a) any Liquidity Bank, (b) Program Support Provider or (c) any insurance company, bank or other funding entity
providing liquidity, credit enhancement or back-up purchase support or facilities to Market Street. 
 GAAP: Generally accepted
accounting principles in effect in the United States of America as in effect from time to time. 
 Government Acts: As defined in
Section 1.13. 
 Government Receivable: A Receivable as to which the Obligor is any nation or government, any federal, state,
local or other political subdivision thereof and any entity exercising executive, legislative, judicial, regulatory or administrative authority or functions of or pertaining to government including any authority or other quasi-governmental entity
established to perform any of such functions. 
 Governmental Authority: Means any nation or government, any state or other political
subdivision thereof, any central bank (or similar monetary or regulatory authority) thereof, any body or entity exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government, including any court,
and any Person owned or controlled, through stock or capital ownership or otherwise, by any of the foregoing. 
 Group A Obligor: Means
any Obligor with a short-term rating of at least: (a) “A1” by S&P, or if such Obligor does not have a short-term rating from S&P, a rating of “A” or better by S&P on its long-term senior unsecured and
uncreditenhanced debt securities, and (b) “P-1” by Moody’s, or if such Obligor does not have a short-term rating from Moody’s, a rating of “A2” or better by Moody’s on its long-term senior unsecured and
uncreditenhanced debt securities. 
 Group B Obligor: Means an Obligor, not a Group A Obligor, with a short-term rating of at least:
(a) “A-2” by S&P, or if such Obligor does not have a short-term rating from S&P, a rating of “BBB+” to “A-” by S&P on its long-term senior unsecured and uncreditenhanced debt securities, and
(b) “P-2” by Moody’s, or if such Obligor does not have a short-term rating from Moody’s, a rating of “Baa1” to “A3” by Moody’s on its long-term senior unsecured and uncreditenhanced debt securities.

 Group C Obligor: Means an Obligor, not a Group A Obligor or a Group B Obligor, with a short-term rating of at least:
(a) “A-3” by S&P, or if such Obligor does not have a short-term rating from S&P, a rating of “BBB” to “BBB-” by S&P on its long-term senior unsecured and uncreditenhanced debt securities, and
(b) “P-3” by Moody’s, or if such Obligor does not have a short-term rating from Moody’s, a rating of “Baa2” to “Baa3” by Moody’s on its long-term senior unsecured and uncreditenhanced debt
securities. 

  
 I-11

 Group D Obligor: Means any Obligor that is not a Group A Obligor, Group B Obligor, Group C Obligor,
Special Obligor, Canadian Obligor or an Obligor of Permitted Government Receivables. 
 Incremental Purchase: A purchase of one or more
Purchased Assets which increases the total outstanding Aggregate Invested Amount hereunder. For the avoidance of doubt, an Incremental Purchase shall include, a purchase or deemed purchase of Purchased Assets under the Agreement which (a) is
paid for in cash (other than through Reinvestments), (b) treated as an Incremental Purchase pursuant to Section 1.2(b) of the Agreement and/or any of the provisions set forth in Sections 1.6 through 1.15 of the
Agreement or (c) without double counting any of the amounts described in clause (a) or (b), above, is the result of the issuance of Commercial Paper by Market Street, pursuant to the Agreement or otherwise, the proceeds of
which are used to reimburse draws on the LC Bank under any Letter of Credit, whether on, prior to or after the date any such draw is treated as or deemed to be an Incremental Purchase under the Agreement. 

Indebtedness: Of a Person means such Person’s (a) obligations for borrowed money, (b) obligations representing the deferred
purchase price of property or services (other than accounts payable arising in the ordinary course of such Person’s business payable on terms customary in the trade), (c) obligations, whether or not assumed, secured by liens or payable out
of the proceeds or production from property now or hereafter owned or acquired by such Person, (d) obligations which are evidenced by notes, acceptances, or other instruments, (e) capitalized lease obligations, (f) net liabilities
under interest rate swap, exchange or cap agreements, (g) Contingent Obligations and (h) liabilities in respect of unfunded vested benefits under plans covered by Title IV of ERISA. 
 Indemnified Amounts: As defined in Section 10.1(a). 
 Indemnified Party:
As defined in Section 10.1(a). 
 Independent Director: As defined in Section 7.1(i)(v). 

Interest Period: With respect to any Purchased Asset funded through a Liquidity Funding: 

(c) if Yield for such Purchased Asset is calculated on the basis of the LIBO Rate, a period of one, two or three months,
or such other period as may be mutually agreeable to the Administrator and the Seller, commencing on a Business Day selected by the Seller or the Administrator pursuant to this Agreement. Such Interest Period shall end on the day in the applicable
succeeding calendar month which corresponds numerically to the beginning day of such Interest Period, provided, however, that if there is no such numerically corresponding day in such succeeding month, such Interest
Period shall end on the last Business Day of such succeeding month; or 
 (d) if Yield for such Purchased Asset
is calculated on the basis of the Alternate Base Rate, a period commencing on a Business Day selected by the Seller and agreed to by the Administrator, provided that no such period shall exceed one month. 

If any Interest Period would end on a day which is not a Business Day, such Interest Period shall end on the next succeeding Business Day,
provided, however, that in the case of Interest Periods corresponding to the LIBO Rate, if such next succeeding Business Day falls in a new month, 

  
 I-12

 
such Interest Period shall end on the immediately preceding Business Day. In the case of any Interest Period which commences before the Facility Termination Date and would otherwise end on a date
occurring after the Facility Termination Date, such Interest Period shall end on the Facility Termination Date. The duration of each Interest Period which commences after the Facility Termination Date shall be of such duration as selected by the
Administrator. 
 Invested Amount: Of any Purchased Asset means, at any time, (a) the Cash Purchase Price of such Purchased Asset
(including a Cash Purchase Price paid pursuant to Section 1.2(b)), minus (b) the sum of the aggregate amount of Collections and other payments received by the Administrator which in each case are applied to reduce such Invested
Amount in accordance with the terms and conditions of this Agreement; provided that such Invested Amount shall be restored (in accordance with Section 2.4) in the amount of any Collections or other payments so received and applied if at
any time the distribution of such Collections or payments are rescinded, returned or refunded for any reason. 
 ISP98 Rules As defined
in Section 1.7. 
 LC Amount At any time, the then aggregate face amount of the outstanding Letters of Credit. 

LC Bank As defined in the preamble to this Agreement. 
 LC Collateral Account The account designated as the LC Collateral Account established and maintained by the Administrator (for the benefit of the LC Bank), or such other account as may be so
designated as such by the Administrator. 
 Letter of Credit Any stand-by letter of credit issued by the LC Bank for the account of
the Seller pursuant to the Agreement. 
 Letter of Credit Application As defined in Section 1.7. 

LIBO Rate: For any Interest Period, the rate per annum determined on the basis of (a) the offered rate for deposits in U.S. dollars of
amounts equal or comparable to the Invested Amount offered for a term comparable to such Interest Period, which rates appear on Telerate page 3750 (or any successor page) effective as of 11:00 A.M., London time, two Business Days prior to
the first day of such Interest Period (the “Rate Setting Day”) or if such rate is unavailable, the rate per annum (rounded upwards, if necessary, to the nearest 1/100th of one percent) based on the rates at which deposits in
U.S. dollars for one month are displayed on page “LIBOR” of the Reuters Screen as of 11:00 a.m. (London time) on the Rate Setting Day (it being understood that if at least two (2) such rates
appear on such page, the rate will be the arithmetic mean of such displayed rates), provided that if no such offered rates appear on such pages, the LIBO Rate for such Interest Period will be the arithmetic average (rounded upwards, if
necessary, to the next higher 1/100th of 1%) of rates quoted by not less than two major banks in New York, New York, selected by the Administrator, at approximately 10:00 a.m.(New York City time), two Business Days prior to the first
day of such Interest Period, for deposits in U.S. dollars offered by leading European banks for a period comparable to such Interest Period in an amount comparable to the Invested Amount, divided by (b) one minus the maximum aggregate
reserve requirement (including all basic, supplemental, marginal or other reserves) which is imposed against the Administrator in respect of Eurocurrency liabilities, as defined in Regulation D of the Board of Governors of the Federal Reserve
System as in effect from time to time (expressed as a decimal), applicable to such Interest Period plus (c) the Applicable Margin. 

  
 I-13

 Liquidity Agreement: That certain Liquidity Asset Purchase Agreement dated as of the date hereof by
and among Market Street, the Administrator, PNC, as liquidity agent, and the banks from time to time party thereto, as the same may be amended, restated and/or otherwise modified from time to time in accordance with the terms thereof. 

Liquidity Bank: Each bank from time to time party to the Liquidity Agreement (other than the Administrator acting in its capacity as the
Administrator thereunder). 
 Liquidity Commitment: As to each Liquidity Bank, its commitment under the Liquidity Agreement. The
Liquidity Commitments, in the aggregate, shall equal 102% of the greater of (a) the Purchase Limit hereunder, and (b) the Aggregate Invested Amount. 
 Liquidity Funding: A purchase by any Liquidity Bank pursuant to its Liquidity Commitment of all or any portion of a Purchased Asset or any advance under any other Program Support Agreement that is
used to fund a Purchase hereunder. 
 Liquidity Termination Date: The earlier to occur of (a) the “Liquidity Termination
Date” set forth in the Liquidity Agreement, as amended from time to time which date is October 5, 2010, and (b) the occurrence of an Event of Bankruptcy with respect to Market Street. 

Lock-Box: Each locked postal box with respect to which a bank who has executed a Collection Account Agreement has been granted exclusive access
for the purpose of retrieving and processing payments made on the Receivables and which is listed on Exhibit IV. 
 Loss Reserve:
For any Calculation Period, the product (expressed as a percentage) of (a) the Stress Factor, times (b) the highest three-month rolling average Default Ratio during the 12 Calculation Periods ending on the immediately preceding Cut-Off
Date, times (c) the Default Horizon Ratio as of the immediately preceding Cut-Off Date. 
 Market Street: As defined in the preamble
to this Agreement. 
 Material Adverse Effect: A material adverse effect on (a) the financial condition or operations of Arch and
its Subsidiaries taken as a whole, (b) the ability of any Seller Party to perform its obligations under this Agreement, (c) the legality, validity or enforceability of this Agreement or any other Transaction Document, (d) the
Administrator’s security interest, for the benefit of the Secured Parties, in the Receivables generally or in any significant portion of the Receivables, the Related Security or the Collections with respect thereto, or (e) the
collectability of the Receivables generally or of any material portion of the Receivables. 
 Material Indebtedness: As defined in
Section 9.1(f). 
 Monthly Report: A report, in substantially the form of Exhibit VIII hereto (appropriately
completed), furnished by the Servicer to the Administrator pursuant to Section 8.5. 

  
 I-14

 Monthly Reporting Date: (a) The 1st Business Day prior to each Settlement Date, or (b) such
other days of any month as the Administrator may request in connection with Section 8.5 hereof. 
 Moody’s: Moody’s
Investors Service, Inc. 
 Net Pool Balance: At any time, the aggregate Outstanding Balance of all Eligible Receivables at such time
reduced by (a) the Excess Concentration Amount and (b) the Foreign Currency Reserve. 
 Obligor: A Person obligated to make
payments pursuant to a Contract. 
 Order: As defined in Section 1.14. 

Originator(s): Arch Chemicals, Inc., a Virginia corporation, Arch Treatment Technologies, Inc., a Virginia corporation, Arch Wood Protection,
Inc., a Delaware corporation, and Arch Personal Care Products, L.P., a New Jersey limited partnership. 
 Other Costs: As defined in
Section 10.3. 
 Other Customers: As defined in Section 10.4. 

Outstanding Balance: Of any Receivable at any time means the then outstanding principal balance thereof. 

Participant: As defined in Section 12.2. 
 PBGC: The Pension Benefit Guaranty Corporation, or any successor thereto. 
 Pension
Plan: A pension plan (as defined in Section 3(2) of ERISA) subject to Title IV of ERISA which Arch sponsors or maintains, or to which it makes, is making, or is obligated to make contributions, or in the case of a multiple employer plan (as
described in Section 4064(a) of ERISA) has made contributions at any time during the immediately preceding five plan years. 
 Permitted
Government Receivable: A general obligation of a state or municipal government or any agency, branch, division, district, or other political subdivision thereof, or a general obligation of the United States government or any agency, branch,
division, department, or other political subdivision thereof to the extent and that such obligation has complied with the Assignment of Claims Act 
 Person: An individual, partnership, corporation (including a business trust), limited liability company, joint stock company, trust, unincorporated association, joint venture or other entity, or a
government or any political subdivision or agency thereof. 
 Plan: An employee benefit plan (as defined in Section 3(3) of ERISA)
which Arch or any of its ERISA Affiliates sponsors or maintains or to which Arch or any of its ERISA Affiliates makes, is making, or is obligated to make contributions and includes any Pension Plan, other than a Plan maintained outside the United
States primarily for the benefit of Persons who are not U.S. residents. 

  
 I-15

 Pooled Commercial Paper: Commercial Paper notes of Market Street subject to any particular pooling
arrangement by Market Street, but excluding Commercial Paper issued by Market Street for a tenor and in an amount specifically requested by any Person in connection with any agreement effected by Market Street. 

Prime Rate: A rate per annum equal to the prime rate of interest announced from time to time by PNC (which is not necessarily the lowest rate
charged to any customer), changing when and as said prime rate changes. 
 Program Documents: The Liquidity Agreement, the documents
under which Administrator performs its obligations with respect to Market Street’s commercial paper program and the other documents to be executed and delivered in connection therewith, as amended, supplemented, restated or otherwise modified
from time to time. 
 Program Support Agreement: Includes the Liquidity Agreement and any other agreement entered into by any Program
Support Provider providing for: (a) the issuance of one or more letters of credit for the account of Market Street, (b) the issuance of one or more surety bonds for which Market Street is obligated to reimburse the applicable Program
Support Provider for any drawings thereunder, (c) the sale by Market Street to any Program Support Provider of Purchased Assets and/or (d) the making of loans and/or other extensions of credit to Market Street in connection with Market
Street’s receivables-securitization program contemplated in the Agreement, together with any letter of credit, surety bond or other instrument issued thereunder (but excluding any discretionary advance facility provided by the Administrator).

 Program Support Provider: Includes any Liquidity Provider and any other Person (other than any customer of Market Street) now or
hereafter extending credit or having a commitment to extend credit to or for the account of, or to make purchases from, Market Street pursuant to any Program Support Agreement. 
 Proposed Reduction Date: As defined in Section 1.3(a). 
 Purchase: An
Incremental Purchase or a Reinvestment. 
 Purchase Date: Each Business Day on which a Purchase is made hereunder. 

Purchase Limit: $80,000,000. 

Purchase Notice: As defined in Section 1.2. 
 Purchase Price: The sum of the (a) Cash Purchase Price and (b) Deferred Purchase Price. 
 Purchased Assets: All of the Seller’s right, title and interest, whether now owned and existing or hereafter arising in and to all of the Receivables, the Related Security, the Collections and
all proceeds of the foregoing, which right, title and interest is transfer to Market Street and/or the LC Bank, as applicable pursuant to the terms of this Agreement. 

  
 I-16

 Rating Agency Condition: That Market Street has received written notice from S&P and Moody’s
that an amendment, a change or a waiver will not result in a withdrawal or downgrade of the then current ratings on Market Street’s Commercial Paper. 
 Receivable: All indebtedness and other obligations owed to the Seller or any Originator (at the time it arises, and before giving effect to any transfer or conveyance under the Receivables Sale
Agreement) or in which the Seller or any Originator has a security interest or other interest, including, without limitation, any indebtedness, obligation or interest constituting an account, chattel paper, instrument or general intangible, arising
in connection with the sale of goods or the rendering of services by any Originator and further includes, without limitation, the obligation to pay any Finance Charges with respect thereto. 
 Receivables Sale Agreement: That certain Amended and Restated Receivables Sale Agreement, dated as of October 6, 2009, among the Originators and the Seller, as the same may be amended,
restated or otherwise modified from time to time. 
 Records: With respect to any Receivable, all Contracts and other documents, books,
records and other information (including, without limitation, computer programs, tapes, disks, punch cards, data processing software and related property and rights) relating to such Receivable, any Related Security therefor and the related Obligor.

 Recourse Obligations: As defined in Section 2.1. 
 Reduction Notice: As defined in Section 1.3. 
 Regulatory Change: As
defined in Section 10.2. 
 Reinvestment: As defined in Section 2.2(a). 

Reimbursement Obligation: As defined in Section 1.9. 
 Related Security: All of the Seller’s right, title and interest in, to and under and with respect to any Receivable: 

(a) all of the Seller’s interest in the inventory and goods (including returned or repossessed inventory or goods),
if any, the sale of which by an Originator gave rise to such Receivable, and all insurance contracts with respect thereto, 
 (b) all other security interests or liens and property subject thereto from time to time, if any, purporting to secure payment of such Receivable, whether pursuant to the Contract related to such
Receivable or otherwise, together with all financing statements and security agreements describing any collateral securing such Receivable, 
 (c) all guaranties, letters of credit, insurance and other agreements or arrangements of whatever character from time to time supporting or securing payment of such Receivable whether pursuant to the
Contract related to such Receivable or otherwise, 

  
 I-17

 (d) all service contracts and other contracts and agreements associated with
such Receivable, 
 (e) all Records related to such Receivable, 

(f) all of the Seller’s right, title and interest in, to and under the Receivables Sale Agreement in respect of such
Receivable, 
 (g) all proceeds of any of the foregoing; 

provided, however, that “Related Security” shall not include any Restricted Contract to the extent the assignment or transfer of,
or the creation, attachment, perfection or enforcement of a security interest in, such Restricted Contract is not authorized by Section 9-406(d) of the UCC as in effect in each relevant jurisdiction. 

Required Reserve: On any day during a Calculation Period, the product of (a) the greater of (i) the sum of (A) the Required Reserve
Factor Floor, (B) the Yield Reserve and (C) the Servicing Reserve and (ii) the sum of the Loss Reserve, the Yield Reserve, the Dilution Reserve and the Servicing Reserve, times (b) the Net Pool Balance as of the Cut-Off Date
immediately preceding such Calculation Period. 
 Required Reserve Factor Floor: For any Calculation Period, the sum (expressed as a
percentage) of (a) 15% plus (b) the product of the Adjusted Dilution Ratio and the Dilution Horizon Ratio, in each case, as of the immediately preceding Cut-Off Date plus (c) if any Special Obligor does not maintain a short-term
rating of A-1+ by S&P, the lesser of (i) 12.5% and (ii) the difference between (A) the percentage of the aggregate outstanding Balance of all Eligible Receivables, the Obligors of which is such Special Obligor and (B) 15.0%.

 Required Liquidity Banks: At any time, Liquidity Banks with Liquidity Commitments in excess of 50% of the aggregate amount of all
Liquidity Commitments. 
 Required Notice Period: Two (2) Business Days. 
 Restricted Contracts: As defined in the Sale Agreement. 
 Restricted Junior Payment:
(a) any dividend or other distribution, direct or indirect, on account of any shares of any class of capital stock of the Seller now or hereafter outstanding, except a dividend payable solely in shares of that class of stock or in any junior
class of stock of the Seller, (b) any redemption, retirement, sinking fund or similar payment, purchase or other acquisition for value, direct or indirect, of any shares of any class of capital stock of the Seller now or hereafter outstanding,
(c) any payment or prepayment of principal of, premium, if any, or interest, fees or other charges on or with respect to, and any redemption, purchase, retirement, defeasance, sinking fund or similar payment and any claim for rescission with
respect to the Subordinated Loans (as defined in the Receivables Sale Agreement), (d) any payment made to redeem, purchase, repurchase or retire, or to obtain the surrender of, any outstanding warrants, options or other rights to acquire shares
of any class of capital stock of the Seller now or hereafter outstanding, and (e) any payment of management fees by the Seller (except for reasonable management fees to any Originator or its Affiliates in reimbursement of actual management
services performed). 

  
 I-18

 Review: As defined in Section 7.1(d)(ii). 

S&P: Standard and Poor’s Ratings Services, a division of The McGraw Hill Companies, Inc. 

Scheduled LC Termination Date: With respect to the LC Bank, initially October 5, 2010, as such date may be extended from time to time in the
sole discretion of the LC Bank. 
 Secured Parties: The Indemnified Parties. 
 Seller: As defined in the preamble to this Agreement. 
 Seller Parties: As defined
in the preamble to this Agreement. 
 Servicer: At any time the Person (which may be the Administrator) then authorized pursuant to
Article VIII to service, administer and collect Receivables. 
 Servicing Fee: For each day in a Calculation Period: 

(a) an amount equal to (i) the Servicing Fee Rate (or, at any time while Arch or one of its Affiliates is the
Servicer, such lesser percentage as may be agreed between the Seller and the Servicer on an arms’ length basis based on then prevailing market terms for similar services), times (ii) the aggregate Outstanding Balance of all Receivables at
the close of business on the Cut-Off Date immediately preceding such Calculation Period, times (iii) 1/360; or 
 (b) on and after the Servicer’s reasonable request made at any time when Arch or one of its Affiliates is no longer acting as Servicer hereunder, an alternative amount specified by the successor
Servicer not exceeding (i) 110% of such Servicer’s reasonable costs and expenses of performing its obligations under this Agreement during the preceding Calculation Period, divided by (ii) the number of days in the current Calculation
Period. 
 Servicing Fee Rate: 1.0% per annum. 
 Servicing Reserve: For any Calculation Period, the product (expressed as a percentage) of (a) the Days Sales Outstanding Ratio of the most recent Cut-Off Date times, (b) the Stress Factor
times, (c) the Servicing Fee Rate times, and (d) 1/360. 
 Settlement Date: (a) The 16th day of each month after the date
of this Agreement (or if any such day is not a Business Day, the next succeeding Business Day thereafter) and (b) the last day of the relevant Interest Period in respect of each Purchased Asset funded through a Liquidity Funding. 

Settlement Period: (a) In respect of each Purchased Asset funded through the issuance of Commercial Paper, the immediately preceding
Calculation Period, and (b) in respect of each Purchased Asset funded through a Liquidity Funding, the entire Interest Period of such Liquidity Funding. 

  
 I-19

 Special Obligor. Wal-Mart Stores Inc. and its Affiliates so long as (a) not more than 10% of the
aggregate Outstanding Balance of all Receivables owing from them remain unpaid for more than 60 days from the original due date therefor, and (b) Wal-Mart Stores Inc. maintains short term unsecured debt ratings of at least both “A-1”
from S&P and “P-1” from Moody’s. 
 Stress Factor: 2.25. 

Subsidiary: Of a Person means (a) any corporation more than 50% of the outstanding securities having ordinary voting power of which shall at
the time be owned or controlled, directly or indirectly, by such Person or by one or more of its Subsidiaries or by such Person and one or more of its Subsidiaries, or (b) any partnership, association, limited liability company, joint venture
or similar business organization more than 50% of the ownership interests having ordinary voting power of which shall at the time be so owned or controlled. 
 Tax Code: The Internal Revenue Code of 1986, as the same may be amended from time to time. 

Terminating Tranche: As defined in Section 4.3(b). 
 Transaction Documents: Collectively, this Agreement, each Purchase Notice, the Receivables Sale Agreement, each Collection Account Agreement, the Fee Letter, the Subordinated Note (as defined in
the Receivables Sale Agreement) and all other instruments, documents and agreements executed and delivered in connection herewith (except the Program Documents). 
 UCC: The Uniform Commercial Code as from time to time in effect in the specified jurisdiction. 
 Unmatured Amortization Event: An event which, with the passage of time or the giving of notice, or both, would constitute an Amortization Event. 

Voluntary Termination: The occurrence of an Amortization Event resulting from the occurrence of the “Termination Date” pursuant to
subclause (iv) of the definition of “Termination Date” in the Receivables Sale Agreement. 
 Weighted Average Credit
Percentage: On any date of determination, the product (expressed as a percentage) of (a) 100% and (b) the Weighted Average Credit Terms as of the most recent Cut-Off Date minus one. 

Weighted Average Credit Terms: For any Cut-Off Date, the weighted average of payment terms granted in invoices for Receivables outstanding as of
such date, exclusive of invoices with payment terms of greater than 180 days, determined pursuant to the following formula (expressed as a number and rounded to the nearest 1/10,000): the sum of (a) 1.5 times the percentage of total outstanding
Receivables with terms allowing for payment within 1-90 days plus (b) 4 times the percentage of total outstanding Receivables with terms allowing for payment within 91-120 days, plus (c) 5 times the percentage of total outstanding
Receivables with terms allowing for payment within 121-150 days plus (d) 6 times the percentage of total outstanding Receivables with terms allowing for payment within 151-180 days; provided that in no event

  
 I-20

 
shall either (i) the outstanding balance of Receivables allowing for payment in more than 180 days, or (ii) the outstanding balance of Receivables with terms allowing for payment within
91-180 days in excess of 25% of the aggregate Outstanding Balance of all Eligible Receivables, be included in the forgoing computation of total outstanding Receivables. 
 Yield: For each Interest Period relating to a Purchased Asset funded through a Liquidity Funding or pursuant to Section 2.1(b) or a drawing under a Letter of Credit, an amount equal to
the product of the applicable Yield Rate for such Purchased Asset or such drawing, as applicable, multiplied by the Invested Amount of such Purchased Asset or the amount of such draw, as applicable, for each day elapsed during such Interest Period,
annualized on (a) a 360 basis for Yield accruing at the LIBO Rate, or (b) a 365 or 366 day basis, as applicable, for Yield accruing at the Alternate Base Rate. 
 Yield Rate: With respect to each Purchased Asset funded through a Liquidity Funding or drawing under a Letter of Credit, the LIBO Rate, the Alternate Base Rate or the Default Rate, as applicable.

 Yield Reserve: For any Calculation Period, the product (expressed as a percentage) of (a) the Stress Factor times
(b) the Alternate Base Rate as of the immediately preceding Cut-Off Date (less the Applicable Margin) times (c) the Days Sales Outstanding Ratio as of the most recent Cut-Off Date times (d) 1/360. 

All accounting terms not specifically defined herein shall be construed in accordance with GAAP. Unless otherwise specified, all terms used in Article 9
of the UCC in the State of New York, and not specifically defined herein, are used herein as defined in such Article 9. 

  
 I-21

 EXHIBIT II 
 FORM OF PURCHASE NOTICE 
 Arch Chemicals Receivables Corp. 

PURCHASE NOTICE 

dated                     ,
20     
 for Purchase on
                    , 20     
 PNC Bank, National Association, as Administrator 
 One PNC Plaza, 26th Floor 

249 Fifth Avenue 
 Pittsburgh, Pennsylvania
15222-2707 
 Attention:
                    , Fax No. (    )
                     
 Ladies and
Gentlemen: 
 Reference is made to the Amended and Restated Receivables Purchase Agreement dated as of October 6, 2009 (as amended,
supplemented or otherwise modified from time to time, the “Receivables Purchase Agreement”) among Arch Chemicals Receivables Corp. (the “Seller”), Arch Chemicals, Inc., as initial Servicer, Market
Street Funding LLC, and PNC Bank, National Association, as LC Bank and Administrator. Capitalized terms defined in the Amended and Restated Receivables Purchase Agreement are used herein with the same meanings. 

1. The Seller hereby certifies, represents and warrants to the Administrator, the LC Bank and Market Street Funding LLC that on and as of
the Purchase Date (as hereinafter defined): 
 (a) all applicable conditions precedent set forth in Article VI of the
Amended and Restated Receivables Purchase Agreement have been satisfied; 
 (b) each of its representations and warranties
contained in Section 5.1 of the Amended and Restated Receivables Purchase Agreement will be true and correct, in all material respects, as if made on and as of the Purchase Date; no event has occurred and is continuing, or would result
from the requested Purchase, that constitutes an Amortization Event or Unmatured Amortization Event; and 
 (c) the Facility
Termination Date has not occurred. 

  
 II-1

 [2. The Seller hereby requests that Market Street Funding LLC make a Purchase on
                    , 20     (the “Purchase Date”) as follows:

 (i) Cash Purchase Price:
$                     and (ii) Deferred Purchase Price
$                    . 
 [2. The Seller request that the LC Bank issue a Letter of Credit with a face amount of
$                    
.]1 

3. Please disburse the proceeds of the Purchase as follows: 

[Apply
$                    to payment of Aggregate Unpaids due on the Purchase Date]. [Wire transfer
$                     to account no.
                     at
                     Bank, in [city, state], ABA No.
                    , Reference:
                    
].]2 

4. Subsequent to the Purchase and/or issuance of a Letter of Credit, the total Invested Amount shall be
$                     and the LC Amount shall be
$                    . 
 IN WITNESS WHEREOF, the Seller has caused this Purchase Request to be executed and delivered as of this
                     day of
                    ,             . 

 

			
	                    ., as the Seller
		
	By:	 	 
	Name:	 	 
	Title:	 	 

  

	1	 In the case of a request for an issuance of a Letter of Credit 

	2	 In the case of Purchase Request. 

  
 II-2

 EXHIBIT III 
 JURISDICTION OF ORGANIZATION OF THE SELLER PARTIES; 
 PLACES OF BUSINESS
OF THE SELLER PARTIES; LOCATIONS OF RECORDS; 
 FEDERAL EMPLOYER IDENTIFICATION NUMBER(S) 

ARCH CHEMICALS, INC. 
 Jurisdiction of
Organization: Virginia 
 PRINCIPAL PLACES OF BUSINESS: 

501 Merritt 7 

P.O. Box 5204 

Norwalk, CT 06856-5204 
 P.O. Box 547 
 2450 Olin Road 

Brandenburg, KY 40108-0547 
 1200 Lower River Road 
 Charleston, TN 37310 

350 Knotter Drive 
 Cheshire, CT 06410 
 960 I-10 at West Lake 

Lake Charles, LA 70602 
 100 McKee Road 
 P.O. Box 30205 

Rochester, NY 14603-3205 
 5660 New Northside Drive NW 
 Suite 1100 

Atlanta, GA 30328 
 1400 Bluegrass Lake Parkway 
 Alpharetta, GA 30004 

  
 III-1

 LOCATION(S) OF RECORDS: 

501 Merritt 7 

P.O. Box 5204 

Norwalk, CT 06856-5204 
 P.O. Box 547 
 2450 Olin Road 

Brandenburg, KY 40108-0547 
 1200 Lower River Road 
 Charleston, TN 37310 

350 Knotter Drive 
 Cheshire, CT 06410 
 960 I-10 at West Lake 

Lake Charles, LA 70602 
 100 McKee Road 
 P.O. Box 30205 

Rochester, NY 14603-3205 
 5660 New Northside Drive 
 NW 

Suite 1100 

Atlanta, GA 30328 
 1400 Bluegrass Lake Parkway 
 Alpharetta, GA 30004 

Federal employer identification number: 
 06-1526315 
 Legal, Trade & Assumed Names: 

JPL Corporation (former name from Aug. 25, 1998 through Nov. 5, 1998) 
 ARCH CHEMICALS RECEIVABLES CORP. 
 Jurisdiction of Organization: Delaware 

Organization Number (if any): 3493573 

  
 III-2

  

			
	 Place(s) of Business:
	  	501 Merritt 7
		  	Norwalk, CT 06851 USA

  

			
	 Location(s) of Records:
	  	501 Merritt 7
		  	Norwalk, CT 06851 USA

 Federal Employer Identification
Number: 04-3606375 
 Legal, Trade and Assumed Names: None 

  
 III-3

 EXHIBIT IV 
 NAMES OF COLLECTION BANKS; LOCK-BOXES AND COLLECTION ACCOUNTS 
  

			
	 •      PNC Bank, National Association
Treasury Management
Two Tower Center, 17th
Floor
East Brunswick, NJ 08816

		
	 Lock Box:

P.O. Box 640060
 Pittsburgh, PA 15264-0060
	  	 Collection Account Number:
 1526899

	
	 •      The Northern Trust Company
50 South LaSalle Street
Chicago, Illinois
60675

		
	 Lock Box:

P.O. Box 91410
 Chicago, IL 60675
	  	 Collection Account Number:
 29432

	
	 •      JP Morgan Chase Bank
One Chase Manhattan Plaza
New York, NY
10081

		
	 Lock Box:

21801 Network Place

Chicago, IL 60673-1218
	  	 Collection Account Number:
 323-265-286

	
	 •      The Toronto-Dominion Bank
Transit 1104
77 Bloor St W
Toronto, Ontario
M5S1M2

		
	 Lock Box:

P.O. Box 6100 Postal Station F

Toronto, ON M4Y2Z2

Lockbox: T6260
	  	 Collection Account Number:
 005120359377 (Canadian Dollars)

		
	 Lock Box:

C.P. 11566, Succursale Ctr Ville

Montreal, QU H3C 5N7
	  	 Collection Account Number:
 11045239866 (Canadian Dollars)

  
 IV-1

  

			
	 Lock Box:

M2184
	  	
	
	 •      Wachovia Bank
191 Peachtree Street
Atlanta, GA 30303

		
	 Lock Box:
	  	Collection Account Number:
		
	 P.O. Box 945582

Atlanta, GA 30394-5582
	  	2004500487091
		
	 P.O. Box 930597

Atlanta, GA 31193
	  	208-0000-683-186
		
	 P.O. Box 932727

Atlanta, GA 31193
	  	200-0015-143-015
		
	 P.O. Box 75335

Charlotte, NC 28275-0335
	  	2004500487091
		
	 P.O. Box 751822

Charlotte, NC 28275-1822
	  	2000021575703

  
 IV-2

 EXHIBIT V 
 FORM OF COMPLIANCE CERTIFICATE 
 To: PNC Bank, National Association, as Administrator 

This Compliance Certificate is furnished pursuant to Section 7.1(a)(iii) of that certain Amended and Restated Receivables Purchase
Agreement dated as of October 6, 2009 among Arch Chemicals Receivables Corp. (the “Seller”), Arch Chemicals, Inc. (the “Servicer”), Market Street Funding LLC and PNC Bank, National Association, as LC Bank
and Administrator (the “Agreement”). 
 THE UNDERSIGNED HEREBY CERTIFIES THAT: 

1. I am the duly elected
                     of the Seller. 
 2. I have reviewed the terms of the Agreement and I have made, or have caused to be made under my supervision, a detailed review of the transactions and financial conditions of the Seller and its
Subsidiaries during the accounting period covered by the attached financial statements. 
 3. The examination
described in paragraph 2 did not disclose, and I have no knowledge of, the existence of any condition or event which constitutes an Amortization Event or Unmatured Amortization Event, as each such term is defined under the Agreement, during or
at the end of the accounting period covered by the attached financial statements or as of the date of this Certificate [, except as set forth in paragraph 4 below]. 

[4. Described below are the exceptions, if any, to paragraph 3 by listing, in detail, the nature of the condition
or event, the period during which it has existed and the action which the Seller has taken, is taking, or proposes to take with respect to each such condition or event:
                    ] 
 The foregoing certifications, and the financial statements delivered with this Certificate in support hereof, are made and delivered as of
                    , 20    . 

 

			
	By:	 	 
	Name:	 	 
	Title:	 	 

  
 V-3

 EXHIBIT VI 
 FORM OF LETTER OF CREDIT APPLICATION 

  
 VI-1

  

			
	Application for Irrevocable	  	PNC Bank, National Association    

	Standby Letter of Credit	  	500 First Avenue, Third Floor P7-PFSC-03-T
	 	  	Pittsburgh, PA 15219

The undersigned hereby applies for the establishment of an Irrevocable Standby Letter of Credit (or, if the undersigned’s bank is not the Issuing
Bank, then application is hereby made to the undersigned’s bank identified below for the establishment of such credit by the Issuing Bank as its correspondent bank), for the account of the undersigned, as set forth below. This Application is
delivered under, and such Credit when issued will be subject to, the undersigned’s Reimbursement Agreement for Standby Letters of Credit delivered to PNC Bank, National Association (“PNC Bank”), or such other agreement with PNC Bank
for the issuance and reimbursement of letters of credit, as the case may be. PNC Bank hereby notifies the undersigned that pursuant to the requirements of the USA Patriot Act (Title III of Pub.L. 107-56 (the “Act”), it is required to
obtain, verify and record information that identifies the undersigned, which information includes the name and address of the undersigned and other information that will allow PNC Bank to identify the undersigned in accordance with the Act. PNC Bank
complies with all US laws and federal regulations and will take all actions in connection with this Application as may be necessary to ensure compliance. 

 

					
	Letter of Credit to be established as follows:	  		 	
	 1. Date of Application
                                        

  
	  	2.  	 	L/C No. (Bank Use Only)
                                        

	 	 	 
	3. Applicant: (complete name and address as it is to appear in letter of credit)	  	4.  	 	Amount:
                                         
           
			
	    _____________________________________________________	  	5.  	 	Currency:            US Dollar            Other (Specify)
                
			
	    _____________________________________________________	  	6 a.	 	Expiration Date:            One Year From Issuance Date
			
	    _____________________________________________________	  		 	                          
           Other (Specify)
                                    
			
	    _____________________________________________________	  	b.	 	Place of Expiration:            Pittsburgh, PA            Other
            
			
	 	  	7.  	 	            Letter of credit to
be automatically extendable with at least             
 days notice for
non-extension by the bank.

	8. Beneficiary of letter of credit or guarantee to be issued by foreign bank:	  	9.  	 	Transmit letter of credit by (check one)
	    (complete name and address)	  		 	
			
	    _____________________________________________________	  		 	           Courier
			
	    _____________________________________________________	  		 	           SWIFT
			
	    _____________________________________________________	  		 	           Other (Specify)
                                
			
	    _____________________________________________________	  		 	
	
	Attention: ________________________ Telephone: _________________________ Fax:________________________

 
 Choose one of the following (unless letter
of credit is to support a guarantee issued by another bank – see Field 15 below) 
  

	10.             	Beneficiary’s statement purportedly signed by one of its authorized officers or representatives reading as follows: (Indicate within the quotation marks the exact
wording to appear on the statement to be presented.) 

	    	“ 

  

	        	___________________________________________________________________________________ 

 

	        	___________________________________________________________________________________ 

 

	11.             	The wording of the credit should be similar to the attached specimen/addendum forming a part hereof. Please initial all pages 

 

	12.             	Clean credit: available by sight draft only: no written certification of default or beneficiary’s entitlement to draw on the letter of credit required.

  

	13. 	COMPLETION REQUIRED - In order to comply with United States Department of the Treasury - Office of Foreign Assets Control Regulations and other US regulations the
following Section must be completed for all letters of credit, both domestic and international. 

 Goods (Product) or
Services: 
  

	  	Does your transaction involve movement of goods or services to be performed outside the U.S.          Yes
         No 

  

	 	Goods Origination
                         Goods Final Destination
                             

 

	 	Ultimate Use of
Goods                                     this information
is required to both Domestic and International 

 Goods (Product) or Services Descriptions 

 

	 	_____________________________________________________________________________________________ 

 

	 	_____________________________________________________________________________________________ 

 

	 	_____________________________________________________________________________________________ 

 Is an Export License required?              Yes (provide copy)
             No (by checking “No” you are certifying the following statement regarding your transaction) 

We certify that an Export License is not required in accordance with the Export Administration Regulations. 

  
 VI-2

  

					
	14. Advising Bank: (Specify if known)	  		  	
			
	      _________________________________________	  		  	           Request Advising Bank to add their confirmation
			
	      _________________________________________	  		  	Advising Bank’s charges are for the account of:
			
	      _________________________________________	  		  	                            Beneficiary
             Account Party
			
	      SWIFT Address ___________________________	  		  	

  

			
	15. If the beneficiary designated above is to be the beneficiary of a guarantee issued by a foreign bank, complete the following:
		
	       Name and location of bank issuing guarantee or bond (Guarantor)

 
       _________________________________________

 
       _________________________________________

 
      
_________________________________________
	  	The letter of credit will be sent by SWIFT to the Guarantor Bank. (If you do not designate a bank, a PNC Bank correspondent will be used.) The Guarantor Bank will be the beneficiary
of the PNC Bank letter of credit and issuer of the guarantee/bond

  

	 	The letter of credit in favor of the Guarantor Bank will be available by authenticated SWIFT message certifying a draw on the Guarantee/Bond. 

 

	 	Expiry date of guarantee or bond:
                                     (Must be 15-30 days prior
to the Expiry date of letter of credit) 

  

	 	Choose one of the following: 

A.                  The wording of the guarantee
should be similar to the attached specimen/addendum forming a part hereof. 
 B.    
             Instruct guarantor bank to issue guarantee in accordance with their standard format. 
 C.                  Please provide wording for any statement or other documents required to draw on guarantee. This
will be subject to approval of Guarantor. 
  

	 	Please provide any instructions for delivery of guarantee/bond. 

 ______________________________________________________________________________________________________________________ 
 _______________________________________________________________________________________________________________________ 
 _______________________________________________________________________________________________________________________ 
  

 
 This letter of credit will be (i) issued by
PNC Bank or any affiliate designated by PNC Bank, unless otherwise agreed, and (ii) subject to the version of the Uniform Customs and Practice for Documentary Credits in effect at the time of issuance (UCP), or International Standby Practices
1998 (ISP98), at PNC Bank’s discretion. 
  
  

									
	16. Obligor	 		  	 Second Obligor (if applicable)
 or Correspondent Bank

					
	Name:	 	 	 		  	Name:	  	 

									
					
	By:	 	 	 		  	By:	  	 
	(Signature)	 		  	(Signature)

									
					
	Print Name:	 	 	 		  	Print Name:	  	 

									
					
	Title:	 	 	 		  	Title:	  	 
			
	Tel:
                                 Fax:
                                         
   	 		  	Tel:
                                 Fax:
                                         
   
	
	For assistance, please call Customer Service at (800) 682-4689

  
 VI-3

 EXHIBIT VII 
 CREDIT AND COLLECTION POLICY 
 See Exhibit V to Receivables Sale Agreement

  
 VII-1

 EXHIBIT VIII 
 FORM OF MONTHLY REPORT 

  
 VIII-1

  

					
	 Arch Chemicals Receivables Corp.
 Trade Receivable Securitization
 Monthly Information Package
	  	
 	

 
	
  

  

													
	Cut-off Date:	  	 	  				  	LC Collateral Account	 		  	 
	Purchase Limit	  	 	  				  		 		  	
	Maximum Potential Capital	  	 	  				  		 		  	Optional Purchase
	Invested Amount (CP Funded)	  	 	  				  	Required Paydown	 		  	Availability
	LC Amount	  	 	  				  	 	 		  	 

 

																					
	 I.      Settlement Period Activity:
	  				  				  			
	 Beginning Accounts Receivable
	  				  	$	0	  	  
	 + Net Credit Sales
	  				  	$	0	  	  
	 - Collections
	  				  	$	0	  	  
	 - Net Dilution
	  				  	$	0	  	  
	 - Write-Offs
	  				  	$	0	  	  
	 - Reconciling Items
	  				  	$	0	  	  
	 + Manual Adjustments
	  				  	$	0	  	  
		  				  	 	 	 	  
	 Ending Accounts Receivable (at month end)
	  				  	$	0	  	  
		  				  	 	 	 	  
					
	II.     Aging Statistics (at month end)	  	 	 	  	 	 	  	Percent of
Ending Receivables	 	 	 	 
	 Current
	  				  	$	0	  	  	 	0.0	% 	 
	 1-30 DPD
	  				  	$	0	  	  	 	0.0	% 	 
	 31-60 DPD
	  				  	$	0	  	  	 	0.0	% 	 
	 61-90 DPD
	  				  	$	0	  	  	 	0.0	% 	 
	 91-120 DPD
	  				  	$	0	  	  	 	0.0	% 	 
	 121-150 DPD
	  				  	$	0	  	  	 	0.0	% 	 
	 151+ DPD
	  				  	$	0	  	  	 	0.0	% 	 
	 Deductions/Other Debits in the Agings
	  				  	$	0	  	  	 	0.0	% 	 
	 Total Credits in Agings
	  				  	$	0	  	  	 	0.0	% 	 
		  				  	 	 	 	  	 	 	 	 
	 Ending Accounts Receivable
	  				  	$	0	  	  	 	0.0	% 	 
						
	III.   Excess Obligor Concentrations (at month end)
   
      Largest Obligors Summary	  	Group	 	  	Gross Eligible
Obligor Balance	 	  	% of Eligible
Receivables	 	 	Concentration
Limit (%)	 	 	Excess
Concentration	 
	 1
	  				  	$	0	  	  	 	0.00	% 	 	 	0.00	% 	 	$	0	  
	 2
	  				  	$	0	  	  	 	0.00	% 	 	 	0.00	% 	 	$	0	  
	 3
	  				  	$	0	  	  	 	0.00	% 	 	 	0.00	% 	 	$	0	  
	 4
	  				  	$	0	  	  	 	0.00	% 	 	 	0.00	% 	 	$	0	  
	 5
	  				  	$	0	  	  	 	0.00	% 	 	 	0.00	% 	 	$	0	  
	 6
	  				  	$	0	  	  	 	0.00	% 	 	 	0.00	% 	 	$	0	  
	 7
	  				  	$	0	  	  	 	0.00	% 	 	 	0.00	% 	 	$	0	  
	 8
	  				  	$	0	  	  	 	0.00	% 	 	 	0.00	% 	 	$	0	  
	 9
	  				  	$	0	  	  	 	0.00	% 	 	 	0.00	% 	 	$	0	  
	 10
	  				  	$	0	  	  	 	0.00	% 	 	 	0.00	% 	 	$	0	  
		  	 	 	 	  				  				 				 	 	 	 
	 Total Excess Obligor Concentrations
	  				  				  				 				 	$	0	  

  

	IV.	Calculation of Net Pool Balance (at month end) 

					
	 Ending Accounts Receivable
	  	$	0	  
	 Less Ineligibles:
	  			
	 Delinquent Receivables (>60 DPD)
	  	 	0	  
	 Bankrupt Obligors
	  	 	0	  
	 Unpermitted Foreign
	  	 	0	  
	 Unpermitted Government
	  	 	0	  
	 Disputes
	  	 	0	  
	 Affiliates
	  	 	0	  
	 Sample A/R
	  	 	0	  
	 Contra Receivables
	  	 	0	  
	 Receivables with Terms > 180 days
	  	 	0	  
		  	 	 	 
	 All Other Ineligibles (Includes Excluded Receivables)
	  	 	0	  
		  	 	 	 
	 Total Ineligible Receivables
	  	 	0	  
	 Eligible Receivables
	  	$	0	  
	 Less: Excess Obligor Concentrations
	  	 	0	  
	 Less: Excess Eligible US Federal Government (>3% of Eligible)
	  	 	0	  
	 Less: Excess Eligible Canadian Obligors (>5% of Eligible)
	  	 	0	  
	 Less: Excess Extended Terms 91-180 days (>25% of Eligible)
	  	 	0	  
	 Less: Foreign Currency Reserve (10% of Eligible CAD Receivables)
	  	 	0	  
		  	 	 	 
	 Net Pool Balance (“NPB”)
	  	$	0	  
		  	 	 	 

  
 VIII-2

  

																			
	 V.     Calculation of Reserves
	  		  				 				 			
	 Loss Reserve 
	  		  				 				 
	 Default Ratio
	  		  	 	0.00	% 	 				 
	 LTM Max. 3-Month Rolling Average Default Ratio
	  		  	 	0.00	% 	 				 
	 Weighted Average Payment Terms (in Months)
	  		  	 	0.00 Months	  	 				 
	 Default Horizon Ratio
	  		  	 	0.00	  	 				 
	 Stress Factor
	  		  	 	2.25	  	 				 
	 Loss Reserve 
	  		  				 	 	0.00	% 	 
	 Dilution Reserve 
	  		  				 				 
	 Dilution Ratio
	  		  	 	0.00	% 	 				 
	 Adjusted Dilution Ratio (12 Month Rolling Average)
	  		  	 	0.00	% 	 				 
	 Dilution Volatility Component
	  		  	 	0.00	% 	 				 
	 Dilution Horizon Ratio
	  		  	 	0.00	  	 				 
	 Stress Factor
	  		  	 	2.25	  	 				 
	 Dilution Reserve 
	  		  				 	 	0.00	% 	 
	 Yield Reserve 
	  		  				 				 
	 PNC Base Rate
	  		  	 	0.00	% 	 				 
	 Days Sales Outstanding Ratio
	  		  	 	0.00	  	 				 
	 Stress Factor
	  		  	 	2.25	  	 				 
	 Yield Reserve 
	  		  				 	 	0.00	% 	 
	 Servicing Reserve 
	  		  				 				 
	 Servicing Fee Rate
	  		  	 	0.00	% 	 				 
	 Days Sales Outstanding Ratio
	  		  	 	0.00	  	 				 
	 Stress Factor
	  		  	 	2.25	  	 				 
	 Servicing Reserve 
	  		  				 	 	0.00	% 	 
	 Required Reserve Factor Floor 
	  		  				 				 
	 Minimum Concentration Reserve 
	  		  	 	15.00	% 	 				 
	 Minimum Dilution Reserve 
	  		  				 				 
	 Adjusted Dilution Ratio (12 Month Rolling Average)
	  		  	 	0.00	% 	 				 
	 Dilution Horizon Ratio
	  		  	 	0.00	  	 				 
		  	 	  	 	 	 	 				 
	 Minimum Dilution Reserve 
	  		  	 	0.00	% 	 				 
	 Special Obligor Step-Up 
	  		  	 	0.00	% 	 				 
	 Required Reserve Factor Floor 
	  		  				 	 	0.00	% 	 
						
	 Required Reserves 
	  		  				 				 				 			
	 A.     Loss Reserve + Dilution Reserve + Yield Reserve + Servicing Reserve
	         
	 				 	 	0.00	% 	 	 	0	  
	 B.     Required Reserve Factor Floor + Yield Reserve+ Servicing Reserve
	         
	 				 	 	0.00	% 	 	 	0	  
		  		  				 				 	 	 	 	 	 	 	 
	 Required Reserves {Greater of A or B}
	  		  				 				 	 	0.00	% 	 	 	0	  
		  		  				 				 	 	 	 	 	 	 	 

  

	
	 VI.   Calculation of Asset Coverage
Ratio

  

					
	 A.     Net Pool Balance
	  	$	0	  
	 B.     LC Collateral Account
	  	$	0	  
		  	 	 	 
	 C.     Total (A + B)

Divided by 
	  	$	0	  
	 D.     Invested Amount
	  	$	0	  
	 E.     LC Amount
	  	$	0	  
	 F.      Required Reserves
	  	$	0	  
		  	 	 	 
	 G.     Total (D + E + F)

Equals
	  	$	0	  
		  	 	 	 
	 Asset Coverage Ratio (C / G)
	  	$	0	  
		  	 	 	 

  
 VIII-3

  

													
	VII. Calculation of Key Ratios	  	Actual	 	 	Trigger	 	 	Complies	 
	 (1) 3-Month Rolling Average Delinquency Ratio
	  	 	0.00	% 	 	 	4.00	% 	 	 	YES	  
	 (2) 3-Month Rolling Average Default Ratio
	  	 	0.00	% 	 	 	2.50	% 	 	 	YES	  
	 (3) 3-Month Rolling Average Dilution Ratio
	  	 	0.00	% 	 	 	8.00	% 	 	 	YES	  
	 (4) Account Receivable Turnover Ratio
	  	 	0.00	  	 	 	6.00	  	 	 	NO	  
	 (5) Days Sales Outstanding Ratio
	  	 	0.0 Days	  	 	 	80.00	  	 	 	YES	  
	 (6) Asset Coverage Ratio
	  	 	0.00	  	 	 	1.00	  	 	 	NO	  
	 (7) Facility Limit {Aggregate Invested Amount / Purchase Limit}
	  	 	0.00	% 	 	 	100.00	% 	 	 	YES	  

  

	VIII.	Signature 

 The
undersigned hereby represents and warrants that the foregoing and attachments represent true and accurate information as of the Cut-Off Date shown above and is in accordance with the Amended and Restated Receivables Purchase Agreement, dated as of
October 5, 2009, by and among ARCH CHEMICALS RECEIVABLES CORP., a Delaware limited liability company, as seller (the “Seller”), ARCH CHEMICALS, INC., a Viginia corporation (“Arch”), as initial servicer (in such capacity, together
with its successors and permitted assigns in such capacity, the “Servicer”), MARKET STREET FUNDING LLC (“Market Street”), and PNC BANK, NATIONAL ASSOCIATION, as agent and administrator for Market Street and its assigns under the
Transaction Documents (together with its successors and assigns in such capacity, the “Administrator”) and as issuer of Letters of Credit (in such capacity, together with its successors and assigns in such capacity, the “LC
Bank”). 
  

									
	ARCH CHEMICALS, INC. as Servicer	 		 	
					
	Signature:	 	 	 		 	Date:	 	 
					
	Printed Name:	 	 	 		 	Title:	 	 

  
 VIII-4

 EXHIBIT IX 
 FORM OF COLLATERAL CERTIFICATE 

  
 IX-1

  

					
	 Arch Chemicals Receivables Corp.
 Trade Receivable Securitization
 Collateral Certificate
	  	
 	

 
	
  

  

													
	Collateral Certificate Date	  	 	  				  	LC Collateral Account	 		  	 
	Purchase Limit	  	 	  				  		 		  	
	Maximum Potential Capital	  	 	  				  		 		  	Optional Purchase
	Invested Amount (CP Funded)	  	 	  				  	Required Paydown	 		  	Availability
	LC Amount	  	 	  				  	 	 		  	 

 

																					
	I.      Aging Statistics (at Collateral Certificate Date)	 	  	Percent of
Ending Receivables	 	 	 	 
	 Current
	  				  	$	0	  	  	 	0.0	% 	 
	 1-30 DPD
	  				  	$	0	  	  	 	0.0	% 	 
	 31-60 DPD
	  				  	$	0	  	  	 	0.0	% 	 
	 61-90 DPD
	  				  	$	0	  	  	 	0.0	% 	 
	 91-120 DPD
	  				  	$	0	  	  	 	0.0	% 	 
	 121-150 DPD
	  				  	$	0	  	  	 	0.0	% 	 
	 151+ DPD
	  				  	$	0	  	  	 	0.0	% 	 
	 Deductions/Other Debits in the Agings
	  				  	$	0	  	  	 	0.0	% 	 
	 Total Credits in Agings
	  				  	$	0	  	  	 	0.0	% 	 
		  				  	 	 	 	  	 	 	 	 
	 Ending Accounts Receivable
	  				  	$	0	  	  	 	0.0	% 	 
						
	II.     Excess Obligor Concentrations
    
    (at Collateral Certificate Date)
        Largest Obligors Summary	  	 	 	  	 Gross Eligible

Obligor Balance
	 	  	 % of Eligible

Receivables
	 	 	 Concentration

Limit (%)
	 	 	 Excess

Concentration
	 
	  	Group	 	  	  	 	 
	 1
	  				  	$	0	  	  	 	0.00	% 	 	 	0.00	% 	 	$	0	  
	 2
	  				  	$	0	  	  	 	0.00	% 	 	 	0.00	% 	 	$	0	  
	 3
	  				  	$	0	  	  	 	0.00	% 	 	 	0.00	% 	 	$	0	  
	 4
	  				  	$	0	  	  	 	0.00	% 	 	 	0.00	% 	 	$	0	  
	 5
	  				  	$	0	  	  	 	0.00	% 	 	 	0.00	% 	 	$	0	  
	 6
	  				  	$	0	  	  	 	0.00	% 	 	 	0.00	% 	 	$	0	  
	 7
	  				  	$	0	  	  	 	0.00	% 	 	 	0.00	% 	 	$	0	  
	 8
	  				  	$	0	  	  	 	0.00	% 	 	 	0.00	% 	 	$	0	  
	 9
	  				  	$	0	  	  	 	0.00	% 	 	 	0.00	% 	 	$	0	  
	 10
	  				  	$	0	  	  	 	0.00	% 	 	 	0.00	% 	 	$	0	  
	 Total Excess Obligor Concentrations
	  				  				  				 				 	$	0	  
					
	 III.   Calculation of Net Pool Balance (at Collateral Certificate Date)
	  				  				  				 			
	 Ending Accounts Receivable
	  				  				  	$	0	  	 
	 Less Ineligibles:
	  				  				  				 
	 Delinquent Receivables (>60 DPD)
	  				  				  	 	0	  	 
	 Bankrupt Obligors
	  				  				  	 	0	  	 
	 Unpermitted Foreign
	  				  				  	 	0	  	 
	 Unpermitted Government
	  				  				  	 	0	  	 
	 Disputes
	  				  				  	 	0	  	 
	 Affiliates
	  				  				  	 	0	  	 
	 Sample A/R
	  				  				  	 	0	  	 
	 Contra Receivables
	  				  				  	 	0	  	 
	 Receivables with Terms > 180 days
	  				  				  	 	0	  	 
	 All Other Ineligibles (Includes Excluded Receivables)
	  				  				  	 	0	  	 
		  				  				  	 	 	 	 
	 Total Ineligible Receivables
	  				  				  	 	0	  	 
		  				  				  	 	 	 	 
	 Eligible Receivables
	  				  				  	$	0	  	 
	 Less: Excess Obligor Concentrations
	  				  				  	 	0	  	 
	 Less: Excess Eligible US Federal Government (>3% of Eligible)
	  				  				  	 	0	  	 
	 Less: Excess Eligible Canadian Obligors (>5% of Eligible)
	  				  				  	 	0	  	 
	 Less: Excess Extended Terms 91-180 days (>25% of Eligible)
	  				  				  	 	0	  	 
	 Less: Foreign Currency Reserve (10% of Eligible CAD Receivables)
	  				  				  	 	0	  	 
		  				  				  	 	 	 	 
	 Net Pool Balance (“NPB”)
	  				  				  	$	0	  	 
		  				  				  	 	 	 	 

  
 IX-2

  

																			
	 IV.   Calculation of Reserves (As of the most recent Cut-Off Date)
	  		  				 				  				 			
	 Loss Reserve
	  		  	 	0.00	% 	 				  				 			
	 Dilution Reserve
	  		  	 	0.00	% 	 				  				 			
	 Yield Reserve
	  		  	 	0.00	% 	 				  				 			
	 Servicing Reserve
	  		  	 	0.00	% 	 				  				 			
	 Required Reserve Factor Floor
	  		  	 	0.00	% 	 				  				 			
						
	 Required Reserves
	  		  				 				  				 			
	 A.     Loss Reserve + Dilution Reserve + Yield Reserve + Servicing Reserve
	  		  				 				  	 	0.00	% 	 	 	0	  
	 B.     Required Reserve Factor Floor + Yield Reserve+ Servicing Reserve
	  		  				 				  	 	0.00	% 	 	 	0	  
		  		  				 				  	 	 	 	 	 	 	 
	 Required Reserves {Greater of A or B}
	  		  				 				  	 	0.00	% 	 	 	0	  
		  		  				 				  	 	 	 	 	 	 	 

  

													
	 V.     Calculation of Asset Coverage Ratio (at Collateral Certificate
Date)
	  				  				  			

  

													
	 A.     Net Pool Balance
	  	$	0	  	  				  			
	 B.     LC Collateral Account
	  	$	0	  	  				  			
		  	 	 	 	  				  			
	 C.     Total (A + B)

Divided by
	  	$	0	  	  				  			
	 D.     Invested Amount
	  	$	0	  	  				  			
	 E.     LC Amount
	  	$	0	  	  				  			
	 F.      Required Reserves
	  	$	0	  	  				  			
		  	 	 	 	  				  			
	 G.     Total (D + E + F)
	  	$	0	  	  				  			
				
	 Equals
	  	 	 	  	Trigger	 	  	Complies	 
	 Asset Coverage Ratio (C / G)
	  	$	0	  	  	 	1.00	  	  	 	NO	  
		  	 	 	 	  				  			

  

	VI.	Signature 

 The
undersigned hereby represents and warrants that the foregoing and attachments represent true and accurate information as of the Cut-Off Date shown above and is in accordance with the Amended and Restated Receivables Purchase Agreement, dated as of
October 5, 2009, by and among ARCH CHEMICALS RECEIVABLES CORP., a Delaware limited liability company, as seller (the “Seller”), ARCH CHEMICALS, INC., a Virginia corporation (“Arch”), as initial servicer (in such capacity,
together with its successors and permitted assigns in such capacity, the “Servicer”), MARKET STREET FUNDING LLC (“Market Street”), and PNC BANK, NATIONAL ASSOCIATION, as agent and administrator for Market Street and its assigns
under the Transaction Documents (together with its successors and assigns in such capacity, the “Administrator”) and as issuer of Letters of Credit (in such capacity, together with its successors and assigns in such capacity, the “LC
Bank”).
  

									
	 ARCH CHEMICALS, INC. as Servicer
	 		 	
					
	 Signature:
	 	 	 		 	Date:	 	 
					
	 Printed Name:
	 	 	 		 	Title:	 	 

  
 IX-3

 EXHIBIT X 

FORM OF REDUCTION NOTICE 

dated                     ,
20     
 for a reduction on
                    , 20     
 PNC Bank, National Association, as Administrator 
 One PNC Plaza, 26th Floor 

249 Fifth Avenue 
 Pittsburgh, Pennsylvania
15222-2707 
 Attention:
                            , 
 Fax No. (    )                      

Ladies and Gentlemen: 

Reference is made to the Amended and Restated Receivables Purchase Agreement dated as of October 6, 2009 (as amended, supplemented
or otherwise modified from time to time, the “Receivables Purchase Agreement”) among Arch Chemicals Receivables Corp. (the “Seller”), Arch Chemicals, Inc., as initial Servicer, Market Street Funding LLC, and PNC
Bank, National Association, as LC Bank and Administrator. Capitalized terms defined in the Receivables Purchase Agreement are used herein with the same meanings. 
 1. The Seller hereby requests that [Market Street Funding LLC] [and] [LC BANK] [ratably] reduce the Aggregate Invested Amount in an amount equal to
$                     the (“Aggregate Reduction”) on
[                    , 20     Insert Date of Reduction which complies with Required Notice Period] (the
“Proposed Reduction Date”). 
 2. All payments to [Market Street Funding LLC] [and] [LC BANK] must be
made by 12:00 pm Eastern Time [in order to comply with Section B(1)(a) of the DTC Operational Arrangements and the DTC Notice (B#2078-07) dated September 11, 2007]. 

3. Subsequent to the Aggregate Reduction, the total Invested Amount shall be
$                     and the LC Amount shall be
$                    . 
 IN WITNESS WHEREOF, the Seller has caused this Reduction Notice to be executed and delivered as of this
             day of                     ,
            . 
  

			
	ARCH CHEMICALS RECEIVABLES CORP., as the Seller
		
	By:	 	 
	Name:	 	 
	Title:	 	 

  
 X-1

 SCHEDULE A 
 DOCUMENTS TO BE DELIVERED TO THE ADMINISTRATOR 
 ON OR PRIOR TO THE INITIAL
PURCHASE 
 1. Executed copies of the Amended and Restated Receivables Sale Agreement, duly executed by the parties thereto.

 2. Copy of the Credit and Collection Policy to attach to the Amended and Restated Receivables Sale Agreement as an Exhibit.

 3. Subordinated Notes in favor of each of the Originators. 

4. Executed copies of the Amended and Restated Receivables Purchase Agreement, duly executed by the parties thereto. 

5. A certificate of the Secretary of each Originator and Seller certifying: 

(a) a copy of the resolutions of the Board of Directors of such Person certified by its Secretary authorizing such
Person’s execution, delivery and performance of this Agreement and the other documents to be delivered by it hereunder; 
 (b) the names and signatures of the officers authorized on its behalf to execute this Agreement and any other documents to be delivered by it hereunder; 

(c) a copy of such Person’s By-Laws; 

(d) such Person’s articles or certificate of incorporation certified by the secretary of state of its jurisdiction of
incorporation on or within thirty (30) days prior to the initial Purchase; and 
 (e) a good standing
certificate for such Person issued by the secretary of state of its state of incorporation. 
 6. Pre-filing state and federal
tax lien, judgment lien searches from its jurisdiction of organization and from the jurisdiction where its chief executive office is located and UCC lien searches against each Originator and Seller from its jurisdiction of organization. 

7. UCC financing statements assignments from STRH to the Administrator in form suitable for filing under the UCC for each UCC financing
statement naming each of the Originators and Seller, as a debtor, and Administrator, as secured party or total assignee. 
 8.
UCC termination statements, if any, necessary to release all security interests and other rights of any Person in the Receivables, Contracts or Related Security previously granted by the Seller or any Originator, together with authorization to file
the same. 

  
 2 

 9. Executed copies of Collection Account Agreements and assignments thereof for each
Lock-Box and Collection Account: 
 (a) Northern Trust 

(b) JPMorgan Chase 
 (c) PNC Bank 
 (d) The Toronto-Dominion Bank 

(e) Wachovia 
 10. Opinions of legal counsel for the Seller Parties reasonably acceptable to the Administrator: 
 (a) In-house counsel [non-contravention] 
 (b) Richards,
Layton & Finger [Delaware] 
 (c) Hunton & Williams [Virginia] 

(d) McCarter & English [New Jersey] 

(e) Cravath Swaine & Moore 

    (i) New York law matters 

    (ii) True Sale/Non-consolidation 

11. Certificates of the chief financial officer or treasurer of each of the Originators as to the absence of Termination Event or
Unmatured Termination Event under the Receivables Sale Agreement, a certificates of the chief financial officer or treasurer of Seller as to the absence of or Amortization Event or Unmatured Amortization Event under the Receivables Purchase
Agreement 
 12. The Fee Letter, duly executed by each of the parties thereto. 

13. A Monthly Report as at September 30, 2009, duly executed by Servicer. 

14. Purchase Notice, duly executed by Seller. 
 15. The Liquidity Agreement, duly executed by each of the parties thereto. 
 16.
Standard & Poor’s form certificate executed by the Administrator. 

  
 3Amended and restated Credit Agreement

 Exhibit 10.1 
 EXECUTION COPY 
  
  

 
 AMENDED AND RESTATED CREDIT
AGREEMENT 
 Dated as of January 3, 2011 
 among 
 COST PLUS, INC., 

as the Lead Borrower 
 For 
 The Borrowers Party Hereto 

The BORROWERS Party Hereto 
 The GUARANTORS Party Hereto 
 BANK OF AMERICA, N.A. 

as Administrative Agent, Collateral Agent, Swing Line Lender 
 and 
 L/C Issuer, 

and 
 The Other
Lenders Party Hereto 
 WELLS FARGO CAPITAL FINANCE, LLC, 
 as Syndication Agent 
 MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED,

 as Sole Lead Arranger and Sole Book Manager 
  

 
  

 TABLE OF CONTENTS 

 

							
	             Section	  	Page	 
		
	 ARTICLE I. DEFINITIONS AND ACCOUNTING TERMS
	  	 	1	  
			
	 1.01
	 	 Defined Terms
	  	 	1	  
	 1.02
	 	 Other Interpretive Provisions
	  	 	47	  
	 1.03
	 	 Accounting Terms
	  	 	48	  
	 1.04
	 	 Rounding
	  	 	49	  
	 1.05
	 	 Times of Day
	  	 	49	  
	 1.06
	 	 Letter of Credit Amounts
	  	 	49	  
		
	 ARTICLE II. THE COMMITMENTS AND CREDIT EXTENSIONS
	  	 	49	  
			
	 2.01
	 	 Loans; Reserves
	  	 	49	  
	 2.02
	 	 Borrowings, Conversions and Continuations of Loans.
	  	 	50	  
	 2.03
	 	 Letters of Credit.
	  	 	52	  
	 2.04
	 	 Swing Line Loans.
	  	 	62	  
	 2.05
	 	 Term Loan Amortization; Prepayments.
	  	 	65	  
	 2.06
	 	 Termination or Reduction of Commitments
	  	 	68	  
	 2.07
	 	 Repayment of Loans.
	  	 	69	  
	 2.08
	 	 Interest.
	  	 	69	  
	 2.09
	 	 Fees
	  	 	69	  
	 2.10
	 	 Computation of Interest and Fees
	  	 	70	  
	 2.11
	 	 Evidence of Debt.
	  	 	70	  
	 2.12
	 	 Payments Generally; Administrative Agent’s Clawback.
	  	 	71	  
	 2.13
	 	 Sharing of Payments by Lenders
	  	 	73	  
	 2.14
	 	 Settlement Amongst Lenders
	  	 	73	  
	 2.15
	 	 Increase in Aggregate Revolving Commitments.
	  	 	74	  
		
	 ARTICLE III. TAXES, YIELD PROTECTION AND ILLEGALITY; APPOINTMENT OF LEAD BORROWER
	  	 	76	  
			
	 3.01
	 	 Taxes.
	  	 	76	  
	 3.02
	 	 Illegality
	  	 	78	  
	 3.03
	 	 Inability to Determine Rates
	  	 	78	  
	 3.04
	 	 Increased Costs; Reserves on LIBO Rate Loans.
	  	 	79	  
	 3.05
	 	 Compensation for Losses
	  	 	80	  
	 3.06
	 	 Mitigation Obligations; Replacement of Lenders.
	  	 	81	  
	 3.07
	 	 Survival
	  	 	81	  
	 3.08
	 	 Designation of Lead Borrower as Borrowers’ Agent.
	  	 	82	  
		
	 ARTICLE IV. CONDITIONS PRECEDENT TO CREDIT EXTENSIONS
	  	 	82	  
			
	 4.01
	 	 Conditions of Initial Credit Extension
	  	 	82	  
	 4.02
	 	 Conditions to all Credit Extensions
	  	 	86	  
		
	 ARTICLE V. REPRESENTATIONS AND WARRANTIES
	  	 	87	  
			
	 5.01
	 	 Existence, Qualification and Power
	  	 	87	  
	 5.02
	 	 Authorization; No Contravention
	  	 	87	  

  
 i 

							
	 5.03
	 	 Governmental Authorization; Other Consents
	  	 	87	  
	 5.04
	 	 Binding Effect
	  	 	88	  
	 5.05
	 	 Financial Statements; No Material Adverse Effect.
	  	 	88	  
	 5.06
	 	 Litigation
	  	 	89	  
	 5.07
	 	 No Default
	  	 	89	  
	 5.08
	 	 Ownership of Property; Liens
	  	 	89	  
	 5.09
	 	 Environmental Compliance
	  	 	90	  
	 5.10
	 	 Insurance
	  	 	90	  
	 5.11
	 	 Taxes
	  	 	91	  
	 5.12
	 	 ERISA Compliance.
	  	 	91	  
	 5.13
	 	 Subsidiaries; Equity Interests
	  	 	92	  
	 5.14
	 	 Margin Regulations; Investment Company Act; Public Utility Holding Company Act.
	  	 	92	  
	 5.15
	 	 Disclosure
	  	 	92	  
	 5.16
	 	 Compliance with Laws
	  	 	93	  
	 5.17
	 	 Intellectual Property; Licenses, Etc.
	  	 	93	  
	 5.18
	 	 Labor Matters
	  	 	93	  
	 5.19
	 	 Security Documents
	  	 	94	  
	 5.20
	 	 Solvency
	  	 	94	  
	 5.21
	 	 Deposit Accounts; Credit Card Arrangements.
	  	 	94	  
	 5.22
	 	 Brokers
	  	 	94	  
	 5.23
	 	 Customer and Trade Relations
	  	 	94	  
	 5.24
	 	 Material Contracts
	  	 	94	  
	 5.25
	 	 Casualty
	  	 	95	  
	 5.26
	 	 Unrestricted Subsidiaries
	  	 	95	  
		
	 ARTICLE VI. AFFIRMATIVE COVENANTS
	  	 	95	  
			
	 6.01
	 	 Financial Statements
	  	 	95	  
	 6.02
	 	 Certificates; Other Information
	  	 	96	  
	 6.03
	 	 Notices
	  	 	99	  
	 6.04
	 	 Payment of Obligations
	  	 	100	  
	 6.05
	 	 Preservation of Existence, Etc.
	  	 	100	  
	 6.06
	 	 Maintenance of Properties
	  	 	100	  
	 6.07
	 	 Maintenance of Insurance
	  	 	101	  
	 6.08
	 	 Compliance with Laws
	  	 	102	  
	 6.09
	 	 Books and Records; Accountants
	  	 	102	  
	 6.10
	 	 Inspection Rights
	  	 	103	  
	 6.11
	 	 Use of Proceeds
	  	 	103	  
	 6.12
	 	 Additional Loan Parties
	  	 	104	  
	 6.13
	 	 Cash Management
	  	 	104	  
	 6.14
	 	 Information Regarding the Collateral
	  	 	105	  
	 6.15
	 	 Physical Inventories
	  	 	106	  
	 6.16
	 	 Environmental Laws
	  	 	107	  
	 6.17
	 	 Further Assurances
	  	 	107	  
	 6.18
	 	 Compliance with Terms of Leaseholds
	  	 	108	  
	 6.19
	 	 Material Contracts
	  	 	108	  
	 6.20
	 	 Unrestricted Subsidiaries
	  	 	108	  

  
 ii 

							
	 ARTICLE VII. NEGATIVE COVENANTS
	  	 	108	  
			
	 7.01
	 	 Liens
	  	 	108	  
	 7.02
	 	 Investments
	  	 	108	  
	 7.03
	 	 Indebtedness
	  	 	108	  
	 7.04
	 	 Fundamental Changes
	  	 	109	  
	 7.05
	 	 Dispositions
	  	 	109	  
	 7.06
	 	 Restricted Payments
	  	 	109	  
	 7.07
	 	 Prepayments of Indebtedness
	  	 	110	  
	 7.08
	 	 Change in Nature of Business
	  	 	110	  
	 7.09
	 	 Transactions with Affiliates
	  	 	110	  
	 7.10
	 	 Burdensome Agreements
	  	 	110	  
	 7.11
	 	 Use of Proceeds
	  	 	110	  
	 7.12
	 	 Amendment of Material Documents
	  	 	110	  
	 7.13
	 	 Corporate Name; Fiscal Year.
	  	 	111	  
	 7.14
	 	 Deposit Accounts; Credit Card Processors
	  	 	111	  
	 7.15
	 	 Availability
	  	 	111	  
		
	 ARTICLE VIII. EVENTS OF DEFAULT AND REMEDIES
	  	 	111	  
			
	 8.01
	 	 Events of Default
	  	 	111	  
	 8.02
	 	 Remedies Upon Event of Default
	  	 	114	  
	 8.03
	 	 Application of Funds
	  	 	115	  
		
	 ARTICLE IX. ADMINISTRATIVE AGENT
	  	 	117	  
			
	 9.01
	 	 Appointment and Authority.
	  	 	117	  
	 9.02
	 	 Rights as a Lender
	  	 	117	  
	 9.03
	 	 Exculpatory Provisions
	  	 	117	  
	 9.04
	 	 Reliance by Agents
	  	 	118	  
	 9.05
	 	 Delegation of Duties
	  	 	119	  
	 9.06
	 	 Resignation of Agents
	  	 	119	  
	 9.07
	 	 Non-Reliance on Administrative Agent and Other Lenders
	  	 	120	  
	 9.08
	 	 No Other Duties, Etc.
	  	 	120	  
	 9.09
	 	 Administrative Agent May File Proofs of Claim
	  	 	120	  
	 9.10
	 	 Collateral and Guaranty Matters
	  	 	121	  
	 9.11
	 	 Notice of Transfer
	  	 	122	  
	 9.12
	 	 Reports and Financial Statements
	  	 	122	  
	 9.13
	 	 Agency for Perfection
	  	 	122	  
	 9.14
	 	 Indemnification of Agents
	  	 	123	  
	 9.15
	 	 Relation among Lenders
	  	 	123	  
	 9.16
	 	 Defaulting Lenders
	  	 	123	  
		
	 ARTICLE X. MISCELLANEOUS
	  	 	124	  
			
	 10.01
	 	 Amendments, Etc.
	  	 	124	  
	 10.02
	 	 Notices; Effectiveness; Electronic Communications.
	  	 	126	  
	 10.03
	 	 No Waiver; Cumulative Remedies
	  	 	128	  
	 10.04
	 	 Expenses; Indemnity; Damage Waiver.
	  	 	128	  
	 10.05
	 	 Payments Set Aside
	  	 	130	  

  
 iii

							
	 10.06
	 	 Successors and Assigns.
	  	 	130	  
	 10.07
	 	 Treatment of Certain Information; Confidentiality
	  	 	134	  
	 10.08
	 	 Right of Setoff
	  	 	136	  
	 10.09
	 	 Interest Rate Limitation
	  	 	136	  
	 10.10
	 	 Counterparts; Integration; Effectiveness
	  	 	136	  
	 10.11
	 	 Survival
	  	 	137	  
	 10.12
	 	 Severability
	  	 	137	  
	 10.13
	 	 Replacement of Lenders
	  	 	137	  
	 10.14
	 	 Governing Law; Jurisdiction; Etc.
	  	 	138	  
	 10.15
	 	 Waiver of Jury Trial
	  	 	139	  
	 10.16
	 	 No Advisory or Fiduciary Responsibility
	  	 	139	  
	 10.17
	 	 USA PATRIOT Act Notice; Foreign Asset Control Regulations.
	  	 	140	  
	 10.18
	 	 Time of the Essence
	  	 	141	  
	 10.19
	 	 Press Releases
	  	 	141	  
	 10.20
	 	 Additional Waivers
	  	 	141	  
	 10.21
	 	 No Strict Construction
	  	 	143	  
	 10.22
	 	 Attachments
	  	 	143	  
	 10.23
	 	 Existing Credit Agreement Amended and Restated
	  	 	144	  
		
	 SIGNATURES
	  	 	S-1	  

  
 iv 

					
	SCHEDULES
			
		 	 1.01
	  	 Borrowers

		 	 1.02
	  	 Guarantors

		 	 2.01
	  	 Commitments and Applicable Percentages

		 	 5.01
	  	 Loan Parties; Organizational Information

		 	 5.05(b)
	  	 Material Indebtedness

		 	 5.05(d)
	  	 Supplement to Interim Financial Statements; Internal Control Event

		 	 5.06
	  	 Litigation

		 	 5.08(b)(1)
	  	 Owned Real Estate

		 	 5.08(b)(2)
	  	 Leased Real Estate

		 	 5.09
	  	 Environmental Matters

		 	 5.10
	  	 Insurance

		 	 5.13(a)
	  	 Subsidiaries

		 	 5.13(b)
	  	 Other Equity Investments

		 	 5.17
	  	 Intellectual Property Matters

		 	 5.18
	  	 Collective Bargaining Agreements

		 	 5.21(a)
	  	 DDAs

		 	 5.21(b)
	  	 Credit Card Arrangements

		 	 5.24
	  	 Material Contracts

		 	 6.02
	  	 Financial and Collateral Reporting

		 	 7.01
	  	 Existing Liens

		 	 7.02
	  	 Existing Investments

		 	 7.03
	  	 Existing Indebtedness

		 	 10.02
	  	 Administrative Agent’s Office; Certain Addresses for Notices

	
	EXHIBITS
			
		 		  	 Form of

			
		 	 A-1
	  	 Revolving Loan Notice

		 	 A-2
	  	 Conversion/Continuation Notice

		 	 B
	  	 Swing Line Loan Notice

		 	 C-1
	  	 Revolving Credit Note

		 	 C-2
	  	 Term Note

		 	 D
	  	 Compliance Certificate

		 	 E
	  	 Assignment and Assumption

		 	 F
	  	 Borrowing Base Certificate

		 	 G
	  	 Credit Card Notification

  
 v 

 CREDIT AGREEMENT 
 This AMENDED AND RESTATED CREDIT AGREEMENT (“Agreement”) is entered into as of January 3, 2011, among 
 COST PLUS, INC., a California corporation, for itself and as agent (in such capacity, the “Lead Borrower”) for the other Borrowers now or hereafter party hereto; 

the BORROWERS now or hereafter party hereto; 
 the GUARANTORS now or hereafter party hereto; 
 each lender from time to time
party hereto (collectively, the “Lenders” and individually, a “Lender”); 
 BANK OF AMERICA,
N.A., as Administrative Agent, Collateral Agent, Swing Line Lender and L/C Issuer; 
 MERRILL LYNCH, PIERCE, FENNER &
SMITH INCORPORATED, as Sole Lead Arranger and Sole Book Manager; and 
 WELLS FARGO CAPITAL FINANCE, LLC, as Syndication Agent.

 W I T NE S S E T H 
 WHEREAS, the Borrowers and the Guarantors have entered into a Credit Agreement dated as of June 25, 2007 with Bank of America, N.A., as Administrative Agent and Collateral Agent for the Lenders party
thereto and such Lenders; and 
 WHEREAS, The Borrowers have requested that the Term Lenders (defined below) provide the
Borrowers with a term loan in the principal amount of $10,000,000; and 
 WHEREAS, the Borrowers, the Guarantors, the
Administrative Agent and the Lenders desire to amend and restate the Existing Credit Agreement (defined below) as set forth herein. 
 NOW, THEREFORE, the parties hereto agree that the Existing Credit Agreement shall be amended and restated in its entirety to read as follows: 

ARTICLE I. 

DEFINITIONS AND ACCOUNTING TERMS 
 1.01 Defined Terms. As used in this Agreement, the following terms shall have the meanings set forth below: 
 “ACH” means automated clearing house transfers. 

“Accommodation Payment” as defined in Section 10.20(c). 

  
 1 

 “Account” means “accounts” as defined in the UCC, and also means
a right to payment of a monetary obligation, whether or not earned by performance, (a) for property that has been or is to be sold, leased, licensed, assigned, or otherwise disposed of, (b) for services rendered or to be rendered,
(c) for a policy of insurance issued or to be issued, (d) for a secondary obligation incurred or to be incurred, (e) for energy provided or to be provided, (f) for the use or hire of a vessel under a charter or other contract,
(g) arising out of the use of a credit or charge card or information contained on or for use with the card, or (h) as winnings in a lottery or other game of chance operated or sponsored by a state, governmental unit of a state, or person
licensed or authorized to operate the game by a state or governmental unit of a state. The term “Account” includes health-care-insurance receivables. 
 “Acquisition” means, with respect to any Person (a) an Investment in, or a purchase of a Controlling interest in, the Equity Interests of any other Person, (b) a purchase or
other acquisition of all or substantially all of the assets or properties of, another Person or of any business unit of another Person, (c) any merger or consolidation of such Person with any other Person or other transaction or series of
transactions resulting in the acquisition of all or substantially all of the assets, or a Controlling interest in the Equity Interests, of any Person, or (d) any acquisition of any Store locations of any Person, in each case in any transaction
or group of transactions which are part of a common plan. 
 “Additional Commitment Lender” shall have the
meaning provided in Section 2.15(b). 
 “Adjusted LIBO Rate” means, with respect to any LIBO
Borrowing for any Interest Period, an interest rate per annum (rounded upwards, if necessary, to the next 1/16 of one percent (1%)) equal to (a) the LIBO Rate for such Interest Period multiplied by (b) the Statutory Reserve
Rate. The Adjusted LIBO Rate will be adjusted automatically as to all LIBO Borrowings then outstanding as of the effective date of any change in the Statutory Reserve Rate. 
 “Adjustment Date” means the first day of each calendar quarter, provided that the first Adjustment Date after the Effective Date shall be April 1, 2011. 

“Administrative Agent” means Bank of America, in its capacity as administrative agent under any of the Loan Documents,
or any successor administrative agent. 
 “Administrative Agent’s Office” means the Administrative
Agent’s address and, as appropriate, account as set forth on Schedule 10.02, or such other address or account as the Administrative Agent may from time to time notify the Lead Borrower and the Lenders. 

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

 “Affiliate” means, with respect to any Person, (i) another Person that directly, or indirectly through
one or more intermediaries, Controls or is Controlled by or is under common Control with the Person specified, (ii) any director, officer, managing member, partner, trustee, or beneficiary of that Person, (iii) any other Person directly or
indirectly holding 10% or more of any class of the Equity Interests of that Person, and (iv) any other Person 10% or more of any class of whose Equity Interests is held directly or indirectly by that Person. 

  
 2 

 “Agent(s)” means, individually, the Administrative Agent or the Collateral
Agent and, collectively, means both of them. 
 “Aggregate Revolving Commitments” means the Revolving
Commitments of all the Revolving Lenders. As of the Effective Date, the Aggregate Revolving Commitments total $190,000,000. 

“Aggregate Term Commitments” means the Term Commitments of all the Term Lenders. As of the Effective Date, until the
making of the Term Loans, the Aggregate Term Commitments total $10,000,000. After the Term Loans have been made, the Aggregate Term Commitments shall be $0. 
 “Aggregate Term Outstandings” means, at any time, the aggregate outstanding principal balance of the Term Loans of all Term Lenders at such time. As of the Effective Date, after the
making of the Term Loans, the Aggregate Term Outstandings will equal $10,000,000. 
 “Agreement” means this
Credit Agreement. 
 “Applicable Margin” means: 

(a) From and after the Effective Date until the first Adjustment Date, the percentages set forth in Level II of the
pricing grid below, unless Average Daily Availability falls within Level I, in which event the Applicable Margin will be set at Level I. In no event shall the Applicable Margin be set at Level III prior to the first Adjustment Date (even if the
Average Daily Availability requirements for Level III have been met); and 
 (b) From and after the first
Adjustment Date, the Applicable Margin shall be determined from the following pricing grid based upon the Average Daily Availability for the most recent calendar quarter ended immediately preceding such Adjustment Date; provided,
however, that notwithstanding anything to the contrary set forth herein, upon the occurrence of an Event of Default, the Administrative Agent may, and at the direction of the Required Lenders shall, immediately increase the Applicable Margin
to that set forth in Level I (even if the Average Daily Availability requirements for a different Level have been met) and interest shall accrue at the Default Rate; provided further if any Borrowing Base Certificates are at any time restated
or otherwise revised (including as a result of an audit) or if the information set forth in any Borrowing Base Certificates otherwise proves to be false or incorrect such that the Applicable Margin would have been higher than was otherwise in effect
during any period, without constituting a waiver of any Default or Event of Default arising as a result thereof, interest due under this Agreement shall be immediately recalculated at such higher rate for any applicable periods and shall be due and
payable on demand. 

  
 3 

																			
	 Level
	  	 Average

Daily

Availability
	  	Revolving
Credit Loan
LIBO
Applicable
Margin	 	 	Revolving
Credit Loan
Base Rate
Applicable
Margin	 	 	Term Loan
LIBO
Applicable
Margin	 	 	Term Loan Base
Rate Applicable
Margin	 
	I	  	 Less than 33% of the Loan Cap
	  	 	3.00	% 	 	 	2.00	% 	 	 	5.00	% 	 	 	4.00	% 
						
	II	  	 Greater than or equal to 33% of the Loan Cap but less than 66% of the Loan Cap
	  	 	2.75	% 	 	 	1.75	% 	 	 	4.75	% 	 	 	3.75	% 
						
	III	  	 Greater than or equal to 66% of the Loan Cap
	  	 	2.50	% 	 	 	1.50	% 	 	 	4.50	% 	 	 	3.50	% 

 “Applicable
Percentage” means with respect to (a) each Revolving Lender, its Revolving Applicable Percentage, (b) with respect to the Term Loans, the Term Applicable Percentage, and (c) with respect to all Obligations (excluding Other
Liabilities), for each Lender that percentage which the sum of its Revolving Commitments and its Term Outstandings represent of the Aggregate Facility. If the Revolving Commitment of each Revolving Lender to make Revolving Loans and the obligation
of the L/C Issuer to make L/C Credit Extensions have been terminated pursuant to Section 8.02 or if the Aggregate Revolving Commitments have expired, then the Applicable Percentage of each Lender shall be determined based on the
Applicable Revolving Percentage of such Lender most recently in effect, giving effect to any subsequent assignments. The initial Applicable Percentage of each Lender is set forth opposite the name of such Lender on Schedule 2.01 or in the
Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable. 
 “Applicable
Rate” means (a) if the average daily Credit Extensions (excluding the Term Loans) for the preceding month are greater than or equal to 50% of the Aggregate Revolving Commitments, 0.375% per annum, or (ii) if the average daily
Credit Extensions (excluding the Term Loans) for the preceding month are less than 50% of the Aggregate Revolving Commitments, 0.50% per annum. 
 “Appraisal Percentage” means 90%. 
 “Appraised
Value” means the net appraised liquidation value of the Borrowers’ Inventory (expressed as a percentage of the Cost of such Inventory), as determined from time to time by reference to the most recent appraisal received by the
Administrative Agent conducted by an independent appraiser reasonably satisfactory to the Administrative Agent. 

  
 4 

 “Approved Fund” means any Fund that is administered or managed by
(a) a Lender, (b) an Affiliate of a Lender or (c) an entity or an Affiliate of an entity that administers or manages a Lender. 
 “Arranger” means Merrill Lynch, Pierce, Fenner & Smith Incorporated (successor by merger to Banc of America Securities LLC) in its capacity as sole lead arranger and sole book
manager. 
 “Assignee Group” means two or more Eligible Assignees that are Affiliates of one another or two or
more Approved Funds managed by the same investment advisor. 
 “Assignment and Assumption” means an assignment
and assumption entered into by a Lender and an Eligible Assignee (with the consent of any party whose consent is required by Section 10.06(a)), and accepted by the Administrative Agent, in substantially the form of Exhibit E or
any other form approved by the Administrative Agent. 
 “Attributable Indebtedness” means, on any date,
(a) in respect of any Capital Lease Obligation of any Person, the capitalized amount thereof that would appear on a balance sheet of such Person prepared as of such date in accordance with GAAP, (b) in respect of any Synthetic Lease
Obligation, the capitalized amount of the remaining lease or similar payments under the relevant lease or other applicable agreement or instrument that would appear on a balance sheet of such Person prepared as of such date in accordance with GAAP
if such lease, agreement or instrument were accounted for as a capital lease, and (c) all Synthetic Debt of such Person. 

“Audited Financial Statements” means the audited Consolidated balance sheet of the Lead Borrower and its Subsidiaries
for the fiscal year ended January 30, 2010, and the related Consolidated statements of income or operations, Shareholders’ Equity and cash flows for such fiscal year of the Lead Borrower and its Subsidiaries, including the notes thereto.

 “Availability” means the lesser of (a) or (b), where: 

(a) is the result of: 
 (i) The sum of the Aggregate Revolving Commitments plus the Aggregate Term Outstandings, 
 Minus 
 (ii) The aggregate unpaid balance of Credit
Extensions to, or for the account of, the Borrowers; and 
 (b) is the result of: 

(i) The Borrowing Base, 
 Minus 

  
 5 

 (ii) The aggregate unpaid balance of Credit Extensions to, or for the
account of, the Borrowers. 
 In calculating Availability at any time and for any purpose under this Agreement, the Lead
Borrower shall certify to the Administrative Agent that all accounts payable and Taxes are being paid on a timely basis and consistent with past practices (absent which the Administrative Agent may establish a Reserve therefor). 

“Availability Condition” shall mean, for any date of calculation with respect to any transaction or payment, Average
Daily Availability, after giving pro forma effect to such transaction or payment, (i) was greater than or equal to thirty-five percent (35%) of the Loan Cap for the one hundred eighty (180) days immediately prior to such transaction
or payment, and (ii) will, on such a pro forma and projected basis, be greater than or equal to thirty-five percent (35%) of the Loan Cap for one hundred eighty (180) days immediately following, such transaction or payment.

 “Availability Period” means the period from and including the Effective Date to the earliest of (a) the
Maturity Date, (b) the date of termination of the Aggregate Revolving Commitments pursuant to Section 2.06, and (c) the date of termination of the commitment of each Revolving Lender to make Revolving Loans and of the
obligation of the L/C Issuer to make L/C Credit Extensions pursuant to Section 8.02. 
 “Availability
Reserves” means, without duplication of any other Reserves or items that are otherwise addressed or excluded through eligibility criteria, such reserves as the Administrative Agent from time to time determines in its reasonable discretion
as being appropriate (a) to reflect the impediments to the Agents’ ability to realize upon the Collateral, (b) to reflect claims and liabilities that the Administrative Agent determines will need to be satisfied in connection with the
realization upon the Collateral, (c) to reflect criteria, events, conditions, contingencies or risks which adversely affect any component of the Borrowing Base, or the assets, business, financial performance or financial condition of any Loan
Party, or (d) to reflect that a Default or an Event of Default then exists. Without limiting the generality of the foregoing, Availability Reserves may include (but are not limited to) reserves based on: (i) rent; (ii) customs duties,
and other costs to release Inventory which is being imported into the United States; (iii) outstanding Taxes and other governmental charges, including, without limitation, ad valorem, real estate, personal property, sales, and other Taxes which
might have priority over the interests of the Collateral Agent in the Collateral; (iv) salaries, wages and benefits due to employees of any Borrower which might have priority over the interests of the Collateral Agent in the Collateral,
(v) Customer Credit Liabilities; (vi) warehousemen’s or bailee’s charges and other Permitted Encumbrances which might have priority over the interests of the Collateral Agent in the Collateral; (vii) Cash Management
Reserves; (viii) Bank Products Reserves; and (ix) the Term Loan Reserve. 
 “Average Daily
Availability” shall mean the average daily Availability for the immediately preceding three or six month period, or as projected for the immediately following six month period, as applicable. 

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

  
 6 

 “Bank Products” means any services or facilities provided to any Loan Party
by any Lender or any of its Affiliates (but excluding Cash Management Services) on account of, but not limited to, (a) credit cards, (b) Swap Contracts, and/or (c) leasing. 

“Bank Product Reserves” means such reserves as the Administrative Agent from time to time determines in its reasonable
discretion as being appropriate to reflect the liabilities and obligations of the Loan Parties with respect to Bank Products then provided or outstanding. 
 “Base Rate” means for any day a fluctuating rate per annum equal to the highest of (a) the Federal Funds Rate plus 1/2 of 1%, (b) the rate of interest in effect for such day as
publicly announced from time to time by Bank of America as its “prime rate,” and (c) the Adjusted LIBO Rate (as reasonably determined by the Administrative Agent) for a 30 day interest period as determined on such day, plus 1.0%. The
“prime rate” is a rate set by Bank of America based upon various factors including Bank of America’s costs and desired return, general economic conditions and other factors, and is used as a reference point for pricing some loans,
which may be priced at, above, or below such announced rate. Any change in such rate announced by Bank of America shall take effect at the opening of business on the day specified in the public announcement of such change. 

“Base Rate Loan” means a Loan that bears interest based on the Base Rate. 

“Blocked Account” has the meaning provided in Section 6.13(a)(ii). 

“Blocked Account Agreement” has the meaning provided in Section 6.13(a)(ii). 

“Blocked Account Bank” means each bank with whom deposit accounts are maintained in which any funds of any of the Loan
Parties from one or more DDAs are concentrated and with whom a Blocked Account Agreement has been, or is required to be, executed in accordance with the terms hereof. 
 “Borrower Materials” has the meaning specified in Section 6.02. 
 “Borrowers” means, collectively, the Lead Borrower, the Persons named on Schedule 1.01 annexed hereto, and each other Person who shall from time to time enter into a Joinder
Agreement as a Borrower. 
 “Borrowing” means a Revolving Borrowing, a Swing Line Borrowing, or a borrowing of
Term Loans, as the context may require. 
 “Borrowing Base” means, at any time of calculation, an amount equal
to: 
 (a) the face amount of Eligible Credit Card Receivables multiplied by the Credit Card Advance Rate;

 plus 
 (b) the Appraised Value of Eligible Inventory, net of Inventory Reserves, multiplied by the Appraisal Percentage multiplied by the Cost of Eligible Inventory; 

  
 7 

 plus 

(c) so long as the Term Loan is outstanding, the Appraised Value of Eligible Inventory, net of Inventory Reserves,
multiplied by the Term Loan Appraisal Percentage multiplied by the Cost of Eligible Inventory; 

plus 
 (d) with respect to any Eligible Letter of Credit, the Appraisal Percentage multiplied by the Appraised Value of the Inventory supported by such Eligible Letter of Credit, multiplied by the
Cost of such Inventory when completed, net of Inventory Reserves; 
 minus 

(e) the then amount of all Availability Reserves; 
 provided that in no event shall the amounts available to be borrowed against Eligible In-Transit Inventory hereunder exceed the In-Transit Cap. 

“Borrowing Base Certificate” has the meaning provided in Section 6.02(c). 

“Business Day” means any day other than a Saturday, Sunday or other day on which commercial banks are authorized to
close under the Laws of, or are in fact closed in, the state where the Administrative Agent’s Office is located and, if such day relates to any LIBO Rate Loan, means any such day on which dealings in Dollar deposits are conducted by and between
banks in the London interbank market. 
 “Capital Expenditures” means, with respect to any Person for any
period, (a) all expenditures made (whether made in the form of cash or other property) or costs incurred for the acquisition or improvement of fixed or capital assets of such Person (excluding normal replacements and maintenance which are
properly charged to current operations), in each case that are (or should be) set forth as capital expenditures in a Consolidated statement of cash flows of such Person for such period, in each case prepared in accordance with GAAP, and
(b) Capital Lease Obligations incurred by a Person during such period. 
 “Capital Lease Obligations”
means, with respect to any Person for any period, the obligations of such Person to pay rent or other amounts under any lease of (or other arrangement conveying the right to use) real or personal property, or a combination thereof, which obligations
are required to be classified and accounted for as capital leases on a balance sheet of such Person under GAAP. 
 “Cash
Collateral Account” means a non-interest bearing account established by one or more of the Loan Parties with Bank of America, and in the name of, the Collateral Agent under the sole and exclusive dominion and control of the Collateral
Agent, in the name of the Collateral Agent or as the Collateral Agent shall otherwise direct, in which deposits are required to be made in accordance with Section 2.03(g), Section 2.05(g) or Section 8.02(c).

  
 8 

 “Cash Collateralize” has the meaning specified in
Section 2.03(g). 
 “Cash Dominion Event” means either (a) the occurrence and continuance of
any Event of Default, or (b) (i) the failure of the Borrowers to maintain Availability at any time at least equal to the greater of (x) fifteen percent (15%) of the Loan Cap or (y) $20,000,000. For purposes of this
Agreement, the occurrence of a Cash Dominion Event shall be deemed continuing at the Administrative Agent’s option (i) so long as such Event of Default has not been waived, and/or (ii) if the Cash Dominion Event arises as a result of
the Borrowers’ failure to achieve Availability as required hereunder, until Availability is at least equal to the greater of (i) fifteen percent (15%) of the Loan Cap or (ii) $20,000,000 for forty-five (45) consecutive
Business Days, in which case a Cash Dominion Event shall no longer be deemed to be continuing for purposes of this Agreement; provided that a Cash Dominion Event shall be deemed continuing (even if an Event of Default is no longer
continuing and/or Availability exceeds the required amount for forty-five (45) consecutive Business Days) (a) for a period of twelve consecutive months after a Cash Dominion Event has occurred and been discontinued on two
(2) occasions in any twelve month period, or (b) at all times after a Cash Dominion Event has occurred and been discontinued on four (4) occasions after the Effective Date. 

“Cash Management Reserves” means such reserves as the Administrative Agent, from time to time, determines in its
reasonable discretion as being appropriate to reflect the reasonably anticipated liabilities and obligations of the Loan Parties with respect to Cash Management Services then provided or outstanding. 

“Cash Management Services” means any cash management services or services or facilities provided to any Loan Party by
any Lender or any of its Affiliates, including, without limitation, (a) ACH transactions, (b) controlled disbursement services, treasury, depository, overdraft, and electronic funds transfer services, (c) foreign exchange facilities,
(d) credit or debit cards, (e) purchase cards, or (f) e-payables. 
 “CERCLA” means the
Comprehensive Environmental Response, Compensation, and Liability Act, 42 U.S.C. § 9601 et seq., as amended and in effect from time to time. 
 “CERCLIS” means the Comprehensive Environmental Response, Compensation, and Liability Information System maintained by the United States Environmental Protection Agency. 

“CFC” means a Person that is a controlled foreign corporation under Section 957 of the Code. 

“Change in Law” means the occurrence, after the date of this Agreement, of any of the following: (a) the adoption
or taking effect of any law, rule, regulation or treaty, (b) any change in any law, rule, regulation or treaty or in the administration, interpretation or application thereof by any Governmental Authority or (c) the making or issuance of
any request, guideline or directive (whether or not having the force of law) by any Governmental Authority, provided however, for purposes of this Agreement, the Dodd-Frank Wall Street Reform and Consumer Protection Act and all
requests, guidelines or directives in connection therewith are deemed to have gone into effect and been adopted after the Effective Date. 
 “Change of Control” means an event or series of events by which: 

  
 9 

 (a) any “person” or “group” (as such terms are used in
Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended and in effect from time to time, but excluding any employee benefit plan of such person or its subsidiaries, and any person or entity acting in its capacity as trustee,
agent or other fiduciary or administrator of any such plan) becomes the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Securities Exchange Act of 1934, as amended and in effect from time to time, except that a person or
group shall be deemed to have “beneficial ownership” of all securities that such person or group has the right to acquire, whether such right is exercisable immediately or only after the passage of time (such right, an “option
right”)), directly or indirectly, of 35% or more of the Equity Interests of the Lead Borrower entitled to vote for members of the board of directors or equivalent governing body of the Lead Borrower on a fully-diluted basis (and taking into
account all such Equity Interests that such “person” or “group” has the right to acquire pursuant to any option right); or 
 (c) during any period of 12 consecutive months, a majority of the members of the board of directors or other equivalent governing body of the Lead Borrower cease to be composed of individuals (i) who
were members of that board or equivalent governing body on the first day of such period, (ii) whose election or nomination to that board or equivalent governing body was approved by individuals referred to in clause (i) above constituting
at the time of such election or nomination at least a majority of that board or equivalent governing body or (iii) whose election or nomination to that board or other equivalent governing body was approved by individuals referred to in clauses
(i) and (ii) above constituting at the time of such election or nomination at least a majority of that board or equivalent governing body (excluding, in the case of both clause (ii) and clause (iii), any individual whose initial
nomination for, or assumption of office as, a member of that board or equivalent governing body occurs as a result of an actual or threatened solicitation of proxies or consents for the election or removal of one or more directors by any person or
group other than a solicitation for the election of one or more directors by or on behalf of the board of directors); or 
 (d) any “change in control” or “sale” or “disposition” or similar event as defined in any Organizational Document of any Loan Party or in any Material Contract, or any
document governing Material Indebtedness of any Loan Party; or 
 (e) the Lead Borrower fails at any time to own,
directly or indirectly, 100% of the Equity Interests of each other Loan Party free and clear of all Liens (other than the Liens in favor of the Collateral Agent), except where such failure is as a result of a transaction permitted by the Loan
Documents. 
 “Closing Date” means June 25, 2007. 

“Code” means the Internal Revenue Code of 1986, and the regulations promulgated thereunder, as amended and in effect
from time to time. 
 “Collateral” means any and all “Collateral” as defined in any applicable
Security Document and all other property that is or is intended under the terms of the Security Documents to be subject to Liens in favor of the Collateral Agent. 

  
 10 

 “Collateral Access Agreement” means an agreement reasonably satisfactory in
form and substance to the Collateral Agent executed by (a) a bailee or other Person in possession of Collateral, and (b) each landlord of Real Estate leased by any Loan Party, in each case, pursuant to which such Person
(i) acknowledges the Collateral Agent’s Lien on the Collateral, (ii) releases such Person’s Liens in the Collateral held by such Person or located on such Real Estate, (iii) as to any landlord, provides the Collateral Agent
with access to the Collateral located in or on such Real Estate and a reasonable time to sell and dispose of the Collateral from such Real Estate, and (iv) makes such other agreements with the Collateral Agent as the Collateral Agent may
reasonably require. 
 “Collateral Agent” means Bank of America, in its capacity as collateral agent for its
own benefit and the benefit of the other Credit Parties under any of the Loan Documents, or any successor collateral agent. 

“Commercial Letter of Credit” means any Letter of Credit issued for the purpose of providing the primary payment
mechanism in connection with the purchase of any materials, goods or services by a Borrower in the ordinary course of business of such Borrower and includes any banker’s acceptance issued in connection therewith. 

“Commitment” means, as to each Lender, its Revolving Commitment and its Term Loan Commitment. 

“Commitment Fee” has the meaning specified in Section 2.09(a). 

“Commitment Increase” shall have the meaning provided in Section 2.15(a). 

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

“Concentration Account” has the meaning provided in Section 6.13(c). 

“Consent” means actual consent given by a Lender from whom such consent is sought; or the passage of seven
(7) Business Days from receipt of written notice to a Lender from the Administrative Agent of a proposed course of action to be followed by the Administrative Agent without such Lender’s giving the Administrative Agent written notice of
that Lender’s objection to such course of action. 
 “Consolidated” means, when used to modify a financial
term, test, statement, or report of a Person, the application or preparation of such term, test, statement or report (as applicable) based upon the consolidation, in accordance with GAAP, of the financial condition or operating results of such
Person and its Subsidiaries. 
 “Consolidated EBITDA” means, at any date of determination, an amount equal to
Consolidated Net Income of the Lead Borrower and its Subsidiaries on a Consolidated basis for the most recently completed Measurement Period, plus (a) the following to the extent deducted in calculating such Consolidated Net Income:
(i) Consolidated Interest Charges, (ii) the provision for Federal, state, local and foreign income Taxes, (iii) depreciation and amortization expense and (iv) other non-recurring expenses reducing such Consolidated Net Income
which do not represent a cash item in such period or any future period (in each case of or by Lead Borrower 

  
 11 

 
and its Subsidiaries for such Measurement Period), minus (b) the following to the extent included in calculating such Consolidated Net Income: (i) Federal, state, local and
foreign income tax credits and (ii) all non-cash items increasing Consolidated Net Income (in each case of or by Lead Borrower and its Subsidiaries for such Measurement Period), all as determined on a Consolidated basis in accordance with GAAP.

 “Consolidated Fixed Charge Coverage Ratio” means, at any date of determination, the ratio of
(a) (i) Consolidated EBITDA for such period plus (ii) Consolidated Rent Expense minus (iii) Capital Expenditures to (b) the sum of (i) Debt Service Charges plus (ii) Consolidated Rent Expense
plus (iii) the aggregate amount of all Restricted Payments, plus (iv) the aggregate amount of Federal, state, local and foreign income taxes paid in cash (net of any tax refunds, but in no event less than $0), in each case,
of or by Lead Borrower and its Subsidiaries for the most recently completed Measurement Period, all as determined on a Consolidated basis in accordance with GAAP. 
 “Consolidated Interest Charges” means, for any Measurement Period, the sum of (a) all interest, premium payments, debt discount, fees, charges and related expenses in connection with
borrowed money (including capitalized interest) or in connection with the deferred purchase price of assets, in each case to the extent treated as interest in accordance with GAAP, including, without limitation, all commissions, discounts and other
fees and charges owed with respect to letters of credit and bankers’ acceptance financing and net costs under Swap Contracts, but excluding any non-cash or deferred interest financing costs, (b) all interest paid or payable with respect to
discontinued operations and (c) the portion of rent expense with respect to such period under Capital Lease Obligations that is treated as interest in accordance with GAAP minus (d) interest income during such period (excluding any
portion of interest income representing accruals of amounts received in a previous period), in each case of or by Lead Borrower and its Subsidiaries for the most recently completed Measurement Period, all as determined on a Consolidated basis in
accordance with GAAP. 
 “Consolidated Net Income” means, as of any date of determination, the net income of
Lead Borrower and its Subsidiaries for the most recently completed Measurement Period, all as determined on a Consolidated basis in accordance with GAAP, provided, however, that there shall be excluded (a) extraordinary gains and
extraordinary losses for such Measurement Period, (b) the income (or loss) of such Person during such Measurement Period in which any other Person has a joint interest, except to the extent of the amount of cash dividends or other distributions
actually paid in cash to such Person during such period, (c) the income (or loss) of such Person during such Measurement Period and accrued prior to the date it becomes a Subsidiary of a Person or any of such Person’s Subsidiaries or is
merged into or consolidated with a Person or any of its Subsidiaries or that Person’s assets are acquired by such Person or any of its Subsidiaries, and (d) the income of any direct or indirect Subsidiary of a Person to the extent that the
declaration or payment of dividends or similar distributions by that Subsidiary of that income is not at the time permitted by operation of the terms of its Organization Documents or any agreement, instrument, judgment, decree, order, statute, rule
or governmental regulation applicable to that Subsidiary, except that the Lead Borrower’s equity in any net loss of any such Subsidiary for such Measurement Period shall be included in determining Consolidated Net Income. 

  
 12 

 “Consolidated Rent Expense” means, as of any date of determination, all
obligations of in respect of base, percentage and other rent paid or due during such period under any rental agreements or leases of real or personal property (other than Capital Lease Obligations), in each case of the Lead Borrower and its
Subsidiaries on and for the most recently completed Measurement Period, determined on a Consolidated basis in accordance with GAAP. 
 “Contractual Obligation” means, as to any Person, any provision of any agreement, instrument or other undertaking to which such Person is a party or by which it or any of its property is
bound. 
 “Control” means the possession, directly or indirectly, of the power to direct or cause the direction
of the management or policies of a Person, whether through the ability to exercise voting power, by contract or otherwise. “Controlling” and “Controlled” have meanings correlative thereto. 

“Conversion/Continuation Notice” means a notice of (a) a conversion of Loans from one Type to the other, or
(b) a continuation of LIBO Rate Loans, pursuant to Section 2.02(a), which, if in writing, shall be substantially in the form of Exhibit A-2. 
 “Cost” means the calculated cost of purchases, based upon the Borrowers’ accounting practices in effect on the Effective Date as such calculated cost is determined from invoices
received by the Borrowers, the Borrowers’ purchase journals or the Borrowers’ stock ledger. “Cost” does not include inventory capitalization costs or other non-purchase price charges (such as freight) used in the Borrowers’
calculation of cost of goods sold. 
 “Credit Card Advance Rate” means 90%. 

“Credit Card Notifications” has the meaning provided in Section 6.13(a)(i). 

“Credit Extensions” mean each of the following: (a) a Borrowing and (b) an L/C Credit Extension. 

“Credit Party” or “Credit Parties” means (a) individually, (i) each Lender and its
Affiliates, (ii) each Agent, (iii) each L/C Issuer, (iv) the Arranger, (v) each beneficiary of each indemnification obligation undertaken by any Loan Party under any Loan Document, (vi) any other Person to whom Obligations
under this Agreement and other Loan Documents are owing, and (vii) the successors and assigns of each of the foregoing, and (b) collectively, all of the foregoing. 
 “Credit Party Expenses” means, without limitation: (a) all reasonable out-of-pocket expenses incurred by the Agents, the Arranger and their respective Affiliates, in connection with
this Agreement and the other Loan Documents, including, without limitation, (i) the reasonable fees, charges and disbursements of (A) counsel for the Agents and the Arranger, (B) outside consultants for the Agents,
(C) appraisers, (D) commercial finance examinations, and (E) all such out-of-pocket expenses incurred during any workout, restructuring or negotiations in respect of the Obligations, (ii) in connection with (A) the
syndication of the credit facilities provided for herein, (B) the preparation, negotiation, administration, management, execution and delivery of this Agreement and the other Loan Documents or any amendments, modifications or

  
 13 

 
waivers of the provisions thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (C) the enforcement or protection of their rights in connection with
this Agreement or the Loan Documents or efforts to preserve, protect, collect, or enforce the Collateral, or (D) any workout, restructuring or negotiations in respect of any Obligations; and (b) with respect to the L/C Issuer, and its
Affiliates, all reasonable out-of-pocket expenses incurred in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder; and (c) all reasonable out-of-pocket expenses incurred by
the Credit Parties who are not the Agents, the Arranger, the L/C Issuer or any Affiliate of any of them, after the occurrence and during the continuance of an Event of Default, provided that such Credit Parties shall be entitled to reimbursement for
no more than one counsel representing all such Credit Parties (absent a conflict of interest in which case the Credit Parties may engage and be reimbursed for additional counsel). 

“Customer Credit Liabilities” means, at any time, the aggregate remaining value at such time of (a) outstanding
gift certificates and gift cards of the Borrowers entitling the holder thereof to use all or a portion of the certificate or gift card to pay all or a portion of the purchase price for any Inventory, and (b) outstanding merchandise credits and
customer deposits of the Borrowers. 
 “Customs Broker Agreement” means an agreement, in form and substance
reasonably satisfactory to the Collateral Agent, among a Borrower, a customs broker, freight forwarder, consolidator, carrier, shipping company or similar Person, and the Collateral Agent, pursuant to which, among other things, such customs broker,
freight forwarder, consolidator, carrier, shipping company or similar Person acknowledges that it has control over and holds the documents evidencing ownership of the subject Inventory for the benefit of the Collateral Agent and agrees, upon notice
from the Collateral Agent, to hold and dispose of the subject Inventory solely as directed by the Collateral Agent. 

“DDA” means each checking or other demand deposit account maintained by any of the Loan Parties. All funds in each DDA
shall be conclusively presumed to be Collateral and proceeds of Collateral and the Agents and the Lenders shall have no duty to inquire as to the source of the amounts on deposit in any DDA. 

“Debt Service Charges” means for any Measurement Period, the sum of (a) Consolidated Interest Charges paid or
required to be paid for such Measurement Period, plus (b) principal payments made or required to be made on account of Indebtedness (excluding any principal payments on account of Revolving Loans or Letters of Credit and any Synthetic
Lease Obligations but including, without limitation, Capital Lease Obligations) for such Measurement Period, in each case determined on a Consolidated basis in accordance with GAAP. 

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

  
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 “Default” means any event or condition that constitutes an Event of Default
or that, with the giving of any notice, the passage of time, or both, would be an Event of Default. 
 “Default
Rate” means (a) when used with respect to Obligations other than Letter of Credit Fees, an interest rate equal to (i) the Base Rate plus (ii) the Applicable Margin, if any, applicable to Base Rate Loans, plus
(iii) 2% per annum; provided, however, that with respect to a LIBO Rate Loan, the Default Rate shall be an interest rate equal to the interest rate (including any Applicable Margin) otherwise applicable to such LIBO Rate Loan
plus 2% per annum, and (b) when used with respect to Letter of Credit Fees, a rate equal to the Applicable Margin for Standby Letters of Credit or Commercial Letters of Credit, as applicable, plus 2% per annum.

 “Defaulting Lender” means any Lender that (a) has failed to fund any portion of the Revolving Loans,
participations in L/C Obligations or participations in Swing Line Loans required to be funded by it hereunder within one Business Day of the date required to be funded by it hereunder, (b) has otherwise failed to pay over to the Administrative
Agent or any other Lender any other amount required to be paid by it hereunder within one Business Day of the date when due, unless the subject of a good faith dispute, or (c) has been deemed insolvent or become the subject of a bankruptcy or
insolvency proceeding. 
 “Deteriorating Lender” means any Defaulting Lender or any Lender as to which
(a) the Agent has a good faith reasonable belief that such Lender has defaulted in fulfilling its obligations under one or more other syndicated credit facilities, or (b) a Person that Controls such Lender becomes the subject of a
bankruptcy, insolvency or similar proceeding; provided that, with respect to the foregoing clause (b), a Lender shall not be a Deteriorating Lender solely by virtue of the fact that a Governmental Authority owns or acquires any Equity
Interest in such Lender or any direct or indirect parent company thereof if such Lender has all approvals required to enable it to continue to perform its obligations as a Lender hereunder and has, upon the written request of the Lead Borrower or
the Administrative Agent, provided written confirmation of its intention to so perform. 
 “Disposition” or
“Dispose” means the sale, transfer, license, lease or other disposition (including any sale and leaseback transaction and any sale, transfer, license or other disposition of (whether in one transaction or in a series of
transactions) all or substantially all of its assets) to or in favor of any Person) of any property (including, without limitation, any Equity Interests) by any Person (or the granting of any option or other right to do any of the foregoing),
including any sale, assignment, transfer or other disposal, with or without recourse, of any notes or accounts receivable or any rights and claims associated therewith. 
 “Dollars” and “$” mean lawful money of the United States. 
 “Domestic Subsidiary” means any Subsidiary that is organized under the laws of any political subdivision of the United States. 

“Effective Date” means the first date all the conditions precedent in Section 4.01 are satisfied or waived
in accordance with Section 10.01. 
 “Eligible Assignee” means (a) a Credit Party or any of
its Affiliates; (b) a bank, insurance company, or company engaged in the business of making commercial loans, which Person, 

  
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together with its Affiliates, has a combined capital and surplus in excess of $250,000,000; (c) an Approved Fund; (d) any Person to whom a Credit Party assigns its rights and
obligations under this Agreement as part of an assignment and transfer of such Credit Party’s rights in and to a material portion of such Credit Party’s portfolio of asset based credit facilities, and (e) any other Person (other than
a natural person) approved by (i) the Administrative Agent, the L/C Issuer and the Swing Line Lender, and (ii) unless an Event of Default has occurred and is continuing, the Borrower (each such approval not to be unreasonably withheld or
delayed); provided that notwithstanding the foregoing, “Eligible Assignee” shall not include a Loan Party or any of the Loan Parties’ Affiliates or Subsidiaries; provided further, that each assignee in respect of Term
Loans shall be a Revolving Lender hereunder. 
 “Eligible Credit Card Receivables” means Accounts due to a
Borrower on a non-recourse basis from Visa, Mastercard, American Express Company, Discover, and other major credit card processors, and accounts due from any Person on account of any private label credit card receivables under programs between a
Borrower and a third party reasonably acceptable to the Administrative Agent (including, without limitation, GE Money Bank pursuant to the GE Agreement) where the third party retains the consumer credit exposure, in each case acceptable to the
Administrative Agent in its reasonable discretion, as arise in the ordinary course of business, which have been earned by performance, and are deemed by the Administrative Agent in its reasonable discretion to be eligible for inclusion in the
calculation of the Borrowing Base. Without limiting the foregoing, unless the Administrative Agent otherwise agrees, none of the following shall be deemed to be Eligible Credit Card Receivables: 

(a) Accounts due from major credit card processors that have been outstanding for more than five (5) Business Days
from the date of sale; 
 (b) Accounts due from major credit card processors with respect to which a Loan Party
does not have good, valid and marketable title, free and clear of any Lien (other than Liens granted to the Collateral Agent); 
 (c) Accounts due from major credit card processors that are not subject to a first priority security interest in favor of the Collateral Agent (it being the intent that chargebacks in the ordinary course
by the credit card processors shall not be deemed violative of this clause); 
 (d) Accounts due from major
credit card processors which are disputed, are with recourse, or with respect to which a claim, counterclaim, offset or chargeback has been asserted (to the extent of such claim, counterclaim, offset or chargeback); 

(e) Accounts due from GSI Commerce Solutions, Inc. or any of its Affiliates; or 

(f) Accounts due from major credit card processors as to which the credit card processor has the right under certain
circumstances to require a Loan Party to repurchase the Accounts from such credit card processor. 
 “Eligible
In-Transit Inventory” means, as of any date of determination thereof, without duplication of other Eligible Inventory, Inventory: 

  
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 (a) Which has been shipped from a foreign location for receipt by a Borrower
at a location located in the United States and owned or leased by a Borrower (and if leased, as to which such Borrower has furnished to the Administrative Agent a Collateral Access Agreement executed by the Person owning any such location on terms
reasonably acceptable to the Administrative Agent) within sixty (60) days of the date of determination, but which has not yet been delivered to such Borrower at such a United States location; 

(b) For which the purchase order is in the name of a Borrower and title has passed to such Borrower; 

(c) With respect to which either: 
 (i) in the event such Inventory is subject to negotiable bills of lading or other documents of title, such negotiable bills of lading or other documents of title have been (x) from and after the
occurrence of an In-Transit Trigger Event, issued with the Administrative Agent as consignee and a Borrower as shipper, and (y) delivered to the Administrative Agent or an agent acting on behalf of the Administrative Agent or an agent of such
agent (or such other arrangements satisfactory to the Administrative Agent relating to such negotiable bills of lading or other documents of title in respect of such Inventory shall have been made); or 

(ii) in the event such Inventory is not subject to a negotiable bill of lading or other document of title, the shipping
documents relating to such Inventory (including, without limitation, so-called “forwarders cargo receipts” or “non-negotiable express bills of lading”) (collectively, the “Shipping Documents”), (A) prior to
the occurrence of an In-Transit Trigger Event, are acceptable to the Administrative Agent and such Shipping Documents name a Borrower as consignee, and (B) from and after the occurrence of an In-Transit Trigger Event, such Shipping Documents
(1) are acceptable to the Administrative Agent, (2) have, upon the Administrative Agent’s request therefor, been delivered to the Administrative Agent or an agent acting on behalf of the Administrative Agent or an agent of such agent,
and (3) name a Borrower as consignee and shipper (or such other arrangements satisfactory to the Administrative Agent relating to such Shipping Documents in respect of such Inventory shall have been made); 

(d) Which is insured to the reasonable satisfaction of the Collateral Agent; 

(e) Which otherwise would constitute Eligible Inventory; 

(f) With respect to which, from and after the occurrence of an In-Transit Trigger Event, the vendor or the supplier of
such Inventory has agreed to waive its claims in or to such Inventory (including any right to stop such Inventory in transit), in a manner reasonably acceptable to the Administrative Agent, once such Inventory is delivered to a customs broker,
freight forwarder, consolidator, carrier or other representative of a Borrower who has entered into an agreement of the type described in clause (g) below; and 

  
 17 

 (g) With respect to which, from and after the occurrence of an In-Transit
Trigger Event, each customs broker, freight forwarder, consolidator, carrier, shipping company or similar Person in possession, custody or control of such in-transit Inventory shall have (x) entered into Customs Broker Agreements satisfactory
to the Administrative Agent, and (y) indicated or otherwise acknowledged the Collateral Agent’s Lien in such Inventory in any shipping documents issued or carried by such customs broker, freight forwarder, consolidator, carrier, shipping
company or similar Person (including, without limitation, waybills, airway bills, seaway bills, receipts, or any similar document), in each case, in a manner reasonably satisfactory to the Administrative Agent; 

provided that at any time after the occurrence of an In-Transit Trigger Event, to the extent that clauses (f) or
(g) above have not been satisfied as to any particular Inventory (as determined by the Administrative Agent in its discretion), the Administrative Agent may, in its discretion, exclude such Inventory from the definition of “Eligible
In-Transit Inventory” in the event the Administrative Agent determines that such Inventory is subject to any Person’s right or claim which is (or is capable of being) senior to, or pari passu with, the Lien of the Collateral Agent (such
as, without limitation, a right of stoppage in transit) or may otherwise adversely impact the ability of the Collateral Agent to realize upon such Inventory. 
 “Eligible Inventory” means, as of the date of determination thereof, without duplication, (i) Eligible In-Transit Inventory, and (ii) items of Inventory of a Borrower that are
finished goods, merchantable and readily saleable to the public in the ordinary course deemed by the Administrative Agent in its reasonable discretion to be eligible for inclusion in the calculation of the Borrowing Base, in each case that, except
as otherwise agreed by the Administrative Agent, complies with each of the representations and warranties respecting Inventory made by the Borrowers in the Loan Documents, and that is not excluded as ineligible by virtue of one or more of the
criteria set forth below. Except as otherwise agreed by the Administrative Agent, the following items of Inventory shall not be included in Eligible Inventory: 
 (a) Inventory that is not solely owned by a Borrower or a Borrower does not have good and valid title thereto; 
 (b) Inventory that is leased by, or is on consignment to, a Borrower; 
 (c) Inventory (other than Eligible In-Transit Inventory) that is not located in the United States (excluding territories or possessions of the United States) at a location that is owned or leased by a
Borrower (including, without limitation, any location owned or operated by GSI Commerce Solutions, Inc. or any of its Affiliates or any other fulfillment center service), except to the extent that the Borrowers have furnished the Administrative
Agent with (i) any UCC financing statements or other documents that the Administrative Agent may determine to be necessary to perfect its security interest in such Inventory at such location, and (ii) a Collateral Access Agreement executed
by the Person owning or operating any such location on terms reasonably acceptable to the Administrative Agent; 

(d) Inventory that is comprised of goods which (i) are damaged, defective, “seconds,” or otherwise
unmerchantable, (ii) are to be returned to the vendor, (iii) are 

  
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obsolete or slow moving, or custom items, work-in-process, raw materials, or that constitute spare parts, promotional, marketing, packaging and shipping materials or supplies used or consumed in
a Borrower’s business, (iv) are not in compliance with all standards imposed by any Governmental Authority having regulatory authority over such Inventory, its use or sale, or (v) are bill and hold goods; 

(e) Inventory that is not subject to a perfected first-priority security interest in favor of the Collateral Agent;

 (f) Inventory that consists of samples, labels, bags, packaging, and other similar non-merchandise categories;

 (g) Inventory that is not insured in compliance with the provisions of Section 5.10 hereof;

 (h) Inventory that has been sold but not yet delivered or as to which a Borrower has accepted a deposit;

 (i) Inventory that is subject to any licensing, patent, royalty, trademark, trade name or copyright agreement
with any third party from which any Borrower or any of its Subsidiaries has received notice of a dispute in respect of any such agreement; or 
 (k) Inventory acquired in a Permitted Acquisition, unless and until the Collateral Agent has completed or received (A) an appraisal of such Inventory from appraisers satisfactory to the Collateral
Agent, establishes an Inventory advance rate and Inventory Reserves (if applicable) therefor, and otherwise agrees that such Inventory shall be deemed Eligible Inventory, and (B) such other due diligence as the Agents may require, all of the
results of the foregoing to be reasonably satisfactory to the Agents. 
 “Eligible Letter of Credit”
means, as of any date of determination thereof, a Commercial Letter of Credit which supports the purchase of Inventory, (i) which Inventory does not constitute Eligible In-Transit Inventory and for which no documents of title have then been
issued, (ii) which Inventory, when completed, otherwise would constitute Eligible Inventory, (iii) which Commercial Letter of Credit has an expiry within sixty (60) days of the date of initial issuance of such Commercial Letter of
Credit, and (iv) which Commercial Letter of Credit provides that it may be drawn only after the Inventory is completed and after documents of title have been issued for such Inventory reflecting a Borrower or the Collateral Agent as consignee
of such Inventory. 
 “Environmental Laws” means any and all Federal, state, local, and foreign
statutes, laws, regulations, ordinances, rules, judgments, orders, decrees, permits, concessions, grants, franchises, licenses, agreements or governmental restrictions relating to pollution and the protection of the environment or the release of any
materials into the environment, including those related to hazardous substances or wastes, air emissions and discharges to waste or public systems. 
 “Environmental Liability” means any liability, contingent or otherwise (including any liability for damages, costs of environmental remediation, fines, penalties or indemnities), of the

  
 19 

 
Borrower, any other Loan Party or any of their respective Subsidiaries directly or indirectly resulting from or based upon (a) violation of any Environmental Law, (b) the generation,
use, handling, transportation, storage, treatment or disposal of any Hazardous Materials, (c) exposure to any Hazardous Materials, (d) the release or threatened release of any Hazardous Materials into the environment or (e) any
contract, agreement or other consensual arrangement pursuant to which liability is assumed or imposed with respect to any of the foregoing. 
 “Environmental Permit” means any permit, approval, identification number, license or other authorization required under any Environmental Law. 

“Equipment” has the meaning set forth in the Security Agreement. 

“Equity Interests” means, with respect to any Person, all of the shares of capital stock of (or other ownership or
profit interests in) such Person, all of the warrants, options or other rights for the purchase or acquisition from such Person of shares of capital stock of (or other ownership or profit interests in) such Person, all of the securities convertible
into or exchangeable for shares of capital stock of (or other ownership or profit interests in) such Person or warrants, rights or options for the purchase or acquisition from such Person of such shares (or such other interests), and all of the
other ownership or profit interests in such Person (including partnership, member or trust interests therein), whether voting or nonvoting, and whether or not such shares, warrants, options, rights or other interests are outstanding on any date of
determination. 
 “ERISA” means the Employee Retirement Income Security Act of 1974, as amended and in effect
from time to time. 
 “ERISA Affiliate” means any trade or business (whether or not incorporated) under common
control with a Borrower within the meaning of Section 414(b) or (c) of the Code (and Sections 414(m) and (o) of the Code for purposes of provisions relating to Section 412 of the Code). 

“ERISA Event” means (a) a Reportable Event with respect to a Pension Plan; (b) a withdrawal by a Borrower or
any ERISA Affiliate from a Pension Plan subject to Section 4063 of ERISA during a plan year in which it was a substantial employer (as defined in Section 4001(a)(2) of ERISA) or a cessation of operations that is treated as such a
withdrawal under Section 4062(e) of ERISA; (c) a complete or partial withdrawal by a Borrower or any ERISA Affiliate from a Multiemployer Plan or notification that a Multiemployer Plan is in reorganization; (d) the filing of a notice
of intent to terminate, the treatment of a Plan amendment as a termination under Sections 4041 or 4041A of ERISA, or the commencement of proceedings by the PBGC to terminate a Pension Plan or Multiemployer Plan; (e) an event or condition which
constitutes grounds under Section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any Pension Plan or Multiemployer Plan; or (f) the imposition of any liability under Title IV of ERISA, other than for
PBGC premiums due but not delinquent under Section 4007 of ERISA, upon a Borrower or any ERISA Affiliate. 
 “Event
of Default” has the meaning specified in Section 8.01. An Event of Default shall be deemed to be continuing unless and until that Event of Default has been duly waived as provided in Section 10.03 hereof. 

  
 20 

 “Excluded Taxes” means, with respect to the Administrative Agent, any
Lender, the L/C Issuer or any other recipient of any payment to be made by or on account of any obligation of any Borrower hereunder, (a) taxes imposed on or measured by its overall net income (however denominated), and franchise taxes imposed
on it (in lieu of net income taxes), by the jurisdiction (or any political subdivision thereof) under the laws of which such recipient is organized or in which its principal office is located or, in the case of any Lender, in which its applicable
Lending Office is located, (b) any branch profits taxes imposed by the United States or any similar tax imposed by any other jurisdiction in which any Borrower is located, (c) in the case of a Foreign Lender (other than an assignee
pursuant to a request by the Lead Borrower under Section 10.13), any withholding tax that is imposed on amounts payable to such Foreign Lender at the time such Foreign Lender becomes a party hereto (or designates a new Lending Office) or
is attributable to such Foreign Lender’s failure or inability (other than as a result of a Change in Law) to comply with Section 3.01(d), except to the extent that such Foreign Lender (or its assignor, if any) was entitled, at the
time of designation of a new Lending Office (or assignment), to receive additional amounts from the Borrowers with respect to such withholding tax pursuant to Section 3.01(a), and (d) any United States withholding tax imposed by
FATCA. 
 “Existing Credit Agreement” means that certain Credit Agreement dated as of June 25, 2007 among
the Lead Borrower, Bank of America, N.A., as agent, and a syndicate of lenders. 
 “Existing Letters of Credit”
means each of the letters of credit issued under the Existing Credit Agreement by any Lender hereunder or any Affiliate of such a Lender prior to the date hereof. 
 “Extraordinary Receipt” means any cash received by or paid to or for the account of any Person not in the ordinary course of business, including tax refunds, pension plan reversions,
proceeds of insurance (other than proceeds of business interruption insurance to the extent such proceeds constitute compensation for lost earnings), condemnation awards (and payments in lieu thereof), indemnity payments and any purchase price
adjustments. 
 “Facility Guaranty” means a Guaranty made by a Guarantor in favor of the Administrative Agent
and the Lenders, in form reasonably satisfactory to the Administrative Agent, as amended and in effect from time to time. 

“FATCA” means Sections 1471 through 1474 of the Code and any regulations or official interpretations thereof, in each
case as amended and in effect from time to time. 
 “Federal Funds Rate” means, for any day, the rate per annum
equal to the weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers on such day, as published by the Federal Reserve Bank of New York on the Business Day
next succeeding such day; provided that (a) if such day is not a Business Day, the Federal Funds Rate for such day shall be such rate on such transactions on the next preceding Business Day as so published on the next succeeding Business
Day, and (b) if no such rate is so published on such next succeeding Business Day, the Federal Funds Rate for such day shall be the average rate (rounded upward, if necessary, to a whole multiple of 1/100 of 1%) charged to Bank of America on such
day on such transactions as determined by the Administrative Agent. 

  
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 “Fee Letter” means the letter agreement, dated October 27, 2010, among
the Borrowers, the Administrative Agent and the Arranger. 
 “Fiscal Month” means any fiscal month of any
Fiscal Year. 
 “Fiscal Quarter” means any fiscal quarter of any Fiscal Year. 

“Fiscal Year” means any period of twelve consecutive months ending on the Saturday closest to
January 31st of any calendar year. 

“Foreign Lender” means any Lender that is organized under the laws of a jurisdiction other than that in which any
Borrower is resident for tax purposes. For purposes of this definition, the United States, each State thereof and the District of Columbia shall be deemed to constitute a single jurisdiction. 

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

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

“GAAP” means generally accepted accounting principles in the United States set forth in the opinions and pronouncements
of the Accounting Principles Board and the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or such other principles as may be approved by a significant segment of the
accounting profession in the United States, that are applicable to the circumstances as of the date of determination, consistently applied. 
 “GE Agreement” means that certain Amended and Restated Private Label Consumer Credit Card Program Agreement dated September 6, 2006, as amended and in effect on the Effective Date,
by and between GE Money Bank and the Lead Borrower relating to the private label credit card program entered into between GE Money Bank and the Lead Borrower. 
 “Governmental Authority” means the government of the United States or any other nation, or of any political subdivision thereof, whether state or local, and any agency, authority,
instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to government (including any supra-national bodies such as
the European Union or the European Central Bank). 
 “Guarantee” means, as to any Person, any (a) any
obligation, contingent or otherwise, of such Person guaranteeing or having the economic effect of guaranteeing any Indebtedness or other obligation payable or performable by another Person (the “primary obligor”) in any manner, whether
directly or indirectly, and including any obligation of such Person, direct or indirect, (i) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other obligation, (ii) to purchase or lease
property, securities or services for the purpose of assuring the obligee in respect of such Indebtedness or other obligation of the 

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

“Guarantor” means each Subsidiary of the Lead Borrower (other than any CFC and any Unrestricted Subsidiary) listed on
Schedule 1.02 annexed hereto and each other Subsidiary of the Lead Borrower that shall from time to time be required to execute and deliver a Facility Guaranty or Facility Guaranty supplement pursuant to Section 6.12.  

“Hazardous Materials” means all explosive or radioactive substances or wastes and all hazardous or toxic substances,
wastes or other pollutants, including petroleum or petroleum distillates, asbestos or asbestos-containing materials, polychlorinated biphenyls, radon gas, infectious or medical wastes and all other substances or wastes of any nature regulated
pursuant to any Environmental Law. 
 “In-Transit Cap” means, as of any date of determination, twenty percent
(20%) of the lesser of (a) the Aggregate Revolving Commitments plus the Aggregate Term Outstandings, or (b) the Borrowing Base (without giving effect to this In-Transit Cap in the calculation of the Borrowing Base). 

“In-Transit Trigger Event” means either (a) the occurrence and continuance of any Event of Default, or
(b) (i) the failure of the Borrowers to maintain Availability at any time at least equal to the greater of (x) twenty-five percent (25%) of the Loan Cap or (y) $25,000,000. 

“Increase Effective Date” shall have the meaning provided therefor in Section 2.15(c). 

“Indebtedness” means, as to any Person at a particular time, without duplication, all of the following, whether or not
included as indebtedness or liabilities in accordance with GAAP: 
 (a) all obligations of such Person for
borrowed money and all obligations of such Person evidenced by bonds, debentures, notes, loan agreements or other similar instruments; 
 (b) the maximum amount of all direct or contingent obligations of such Person arising under letters of credit (including standby and commercial), bankers’ acceptances, bank guaranties, surety bonds
and similar instruments; 

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

(d) all obligations of such Person to pay the deferred purchase price of property or services (other than trade accounts
payable in the ordinary course of business and, in each case, not past due for more than 60 days after the date on which such trade account payable was created); 

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

(f) All Attributable Indebtedness in respect of Capital Lease Obligations and Synthetic Lease Obligations of such Person;

 (g) all obligations of such Person to purchase, redeem, retire, defease or otherwise make any payment in
respect of any Equity Interest in such Person or any other Person, or any warrant, right or option to acquire such Equity Interest, valued, in the case of a redeemable preferred interest, at the greater of its voluntary or involuntary liquidation
preference plus accrued and unpaid dividends; and 
 (h) all Guarantees of such Person in respect of any
of the foregoing. 
 For all purposes hereof, the Indebtedness of any Person shall include the Indebtedness of any partnership
or joint venture (other than a joint venture that is itself a corporation or limited liability company) in which such Person is a general partner or a joint venturer, unless such Indebtedness is expressly made non-recourse to such Person. The amount
of any net obligation under any Swap Contract on any date shall be deemed to be the Swap Termination Value thereof as of such date. 
 “Indemnified Taxes” means Taxes other than Excluded Taxes. 

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

“Information” has the meaning specified in Section 10.07. 

“Intellectual Property” means all present and future: trade secrets, know-how and other proprietary information;
trademarks, trademark applications, internet domain names, service marks, trade dress, trade names, business names, designs, logos, slogans (and all translations, adaptations, derivations and combinations of the foregoing) indicia and other source
and/or business identifiers, and all registrations or applications for registrations which have heretofore been or may hereafter be issued thereon throughout the world; copyrights and copyright applications; (including copyrights for computer
programs) and all tangible and intangible property embodying the copyrights, unpatented inventions (whether or not patentable); patents and patent applications; industrial design applications and registered industrial designs; license agreements
related to any of the foregoing and income therefrom; books, records, writings, computer tapes or disks, flow diagrams, specification sheets, computer software, source codes, object codes, executable code, data, databases and other physical
manifestations, embodiments 

  
 24 

 
or incorporations of any of the foregoing; all other intellectual property; and all common law and other rights throughout the world in and to all of the foregoing. 

“Intellectual Property Security Agreement” means the Intellectual Property Security Agreement dated as of the Closing
Date among the Loan Parties and the Collateral Agent, granting a Lien in the Intellectual Property and certain other assets of the Loan Parties, as amended and in effect from time to time. 

“Interest Payment Date” means, (a) as to any Loan other than a Base Rate Loan, the last day of each Interest Period
applicable to such Loan and the Maturity Date; provided, however, that if any Interest Period for a LIBO Rate Loan exceeds three months, the respective dates that fall every three months after the beginning of such Interest Period
shall also be Interest Payment Dates; and (b) as to any Base Rate Loan (including a Swing Line Loan), the first Business Day of each month and the Maturity Date. 
 “Interest Period” means, as to each LIBO Rate Loan, the period commencing on the date such LIBO Rate Loan is disbursed or converted to or continued as a LIBO Rate Loan and ending on the
date one, two, three or six months thereafter, as selected by the Lead Borrower in its Revolving Loan Notice; provided that: 
 (a) any Interest Period that would otherwise end on a day that is not a Business Day shall be extended to the next succeeding Business Day unless such Business Day falls in another calendar month, in
which case such Interest Period shall end on the next preceding Business Day; 
 (b) any Interest Period that
begins on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the calendar month at the end of such Interest Period) shall end on the last Business Day of the calendar month at the end of
such Interest Period; 
 (c) no Interest Period shall extend beyond the Maturity Date; and 

(d) notwithstanding the provisions of clause (c), no Interest Period shall have a duration of less than one
(1) month, and if any Interest Period applicable to a LIBO Borrowing would be for a shorter period, such Interest Period shall not be available hereunder. 
 For purposes hereof, the date of a Borrowing initially shall be the date on which such Borrowing is made and thereafter shall be the effective date of the most recent conversion or continuation of such
Borrowing. 
 “Internal Control Event” means a material weakness in, or fraud that involves management or other
employees who have a significant role in, the Lead Borrower’s and/or its Subsidiaries’ internal controls over financial reporting, in each case as described in the Securities Laws. 

“Inventory” has the meaning given that term in the UCC, and shall also include, without limitation, all: (a) goods
which (i) are leased by a Person as lessor, (ii) are held by a Person for 

  
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sale or lease or to be furnished under a contract of service, (iii) are furnished by a Person under a contract of service, or (iv) consist of raw materials, work in process, or
materials used or consumed in a business; (b) goods of said description in transit; (c) goods of said description which are returned, repossessed or rejected; and (d) packaging, advertising, and shipping materials related to any of
the foregoing. 
 “Inventory Reserves” means such reserves as may be established from time to time by the
Administrative Agent in the Administrative Agent’s reasonable discretion with respect to the determination of the saleability, at retail, of the Eligible Inventory or which reflect such other factors as affect the market value of the Eligible
Inventory. 
 “Investment” means, as to any Person, any direct or indirect acquisition or investment by such
Person, whether by means of (a) the purchase or other acquisition of Equity Interests of another Person, (b) a loan, advance or capital contribution to, Guarantee or assumption of debt of, or purchase or other acquisition of any other debt
or interest in, another Person, or (c) any Acquisition, or (d) any other investment of money or capital in order to obtain a profitable return. For purposes of covenant compliance, the amount of any Investment shall be the amount actually
invested, without adjustment for subsequent increases or decreases in the value of such Investment. 
 “IRS”
means the United States Internal Revenue Service. 
 “ISP” means, with respect to any Letter of Credit, the
“International Standby Practices 1998” published by the Institute of International Banking Law & Practice (or such later version thereof as may be in effect at the time of issuance). 

“Issuer Documents” means with respect to any Letter of Credit, the Letter Credit Application, and any other document,
agreement and instrument entered into by the L/C Issuer and any Borrower (or any Subsidiary) or in favor the L/C Issuer and relating to any such Letter of Credit, in each case as amended and in effect from time to time. 

“Joinder Agreement” means an agreement, in form and substance reasonably satisfactory to the Administrative Agent,
pursuant to which, among other things, a Person becomes a party to, and bound by the terms of, this Agreement and/or the other Loan Documents in the same capacity and to the same extent as either a Borrower or a Guarantor, as the Administrative
Agent may determine. 
 “Landlord Lien State” means such state(s) in which a landlord’s claim for rent may
have priority over the lien of the Collateral Agent in any of the Collateral. 
 “Laws” means each
international, foreign, Federal, state and local statute, treaty, rule, guideline, regulation, ordinance, code and administrative or judicial precedent or authority, including the interpretation or administration thereof by any Governmental
Authority charged with the enforcement, interpretation or administration thereof, and each applicable administrative order, directed duty, request, license, authorization and permit of, and agreement with, any Governmental Authority, in each case
whether or not having the force of law. 

  
 26 

 “L/C Advance” means, with respect to each Revolving Lender, such Revolving
Lender’s funding of its participation in any L/C Borrowing in accordance with its Applicable Percentage. 
 “L/C
Borrowing” means an extension of credit resulting from a drawing under any Letter of Credit which has not been reimbursed on the date when made or refinanced as a Revolving Borrowing. 

“L/C Credit Extension” means, with respect to any Letter of Credit, the issuance thereof or extension of the expiry date
thereof, or the increase of the amount thereof. 
 “L/C Issuer” means (a) Bank of America, in its capacity
as issuer of Letters of Credit hereunder, and (b) any other Revolving Lender. The L/C Issuer may, in its discretion, arrange for one or more Letters of Credit to be issued by Affiliates of the L/C Issuer, in which case the term “L/C
Issuer” shall include any such Affiliate with respect to Letters of Credit issued by such Affiliate. 
 “L/C
Obligations” means, as at any date of determination, the aggregate undrawn amount available to be drawn under all outstanding Letters of Credit plus the aggregate of all Unreimbursed Amounts, including all L/C Borrowings. For
purposes of computing the amounts available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. For all purposes of this Agreement, if on any date of
determination a Letter of Credit has expired by its terms but any amount may still be drawn thereunder by reason of the operation of Rule 3.14 of the ISP, such Letter of Credit shall be deemed to be “outstanding” in the amount so remaining
available to be drawn. 
 “Lease” means any agreement, whether written or oral, no matter how styled or
structured, pursuant to which a Loan Party is entitled to the use or occupancy of any space in a structure, land, improvements or premises for any period of time. 
 “Lenders” means collectively, the Revolving Lenders and the Term Lenders and, as the context requires, includes the Swing Line Lender. “Lender” shall mean any one of the
foregoing Persons. 
 “Lending Office” means, as to any Lender, the office or offices of such Lender described
as such in such Lender’s Administrative Questionnaire, or such other office or offices as a Lender may from time to time notify the Lead Borrower and the Administrative Agent. 

“Letter of Credit” means each Standby Letter of Credit and each Commercial Letter of Credit issued hereunder. Without
limiting the foregoing, the Existing Letters of Credit shall be deemed Letters of Credit issued under this Agreement. 

“Letter of Credit Application” means an application and agreement for the issuance or amendment of a Letter of Credit in
the form from time to time in use by the L/C Issuer. 
 “Letter of Credit Expiration Date” means the day that
is seven days prior to the Maturity Date then in effect (or, if such day is not a Business Day, the next preceding Business Day). 
 “Letter of Credit Fee” has the meaning specified in Section 2.03(h). 

  
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 “Letter of Credit Sublimit” means an amount equal to $35,000,000. The
Letter of Credit Sublimit is part of, and not in addition to, the Aggregate Revolving Commitments. A permanent reduction of the Aggregate Revolving Commitments shall not require a corresponding pro rata reduction in the Letter of Credit Sublimit;
provided, however, that if the Aggregate Revolving Commitments are reduced to an amount less than the Letter of Credit Sublimit, then the Letter of Credit Sublimit shall be reduced to an amount equal to (or, at the Lead Borrower’s
option, less than) the Aggregate Revolving Commitments. 
 “LIBO Borrowing” means a Borrowing comprised of LIBO
Rate Loans. 
 “LIBO Rate” means for any Interest Period with respect to a LIBO Rate Loan, the rate per annum
equal to the British Bankers Association LIBOR Rate (“BBA LIBOR”), as published by Reuters (or other commercially available source providing quotations of BBA LIBOR as designated by the Administrative Agent from time to time) at
approximately 11:00 a.m., London time, two Business Days prior to the commencement of such Interest Period, for Dollar deposits (for delivery on the first day of such Interest Period) with a term equivalent to such Interest Period. If such rate is
not available at such time for any reason, then the “LIBO Rate” for such Interest Period shall be the rate per annum determined by the Administrative Agent to be the rate at which deposits in Dollars for delivery on the first day of such
Interest Period in same day funds in the approximate amount of the LIBO Rate Loan being made, continued or converted by Bank of America and with a term equivalent to such Interest Period would be offered by Bank of America’s London Branch to
major banks in the London interbank eurodollar market at their request at approximately 11:00 a.m. (London time) two Business Days prior to the commencement of such Interest Period. 

“LIBO Rate Loan” means a Loan that bears interest at a rate based on the Adjusted LIBO Rate. 

“Lien” means (a) any mortgage, deed of trust, pledge, hypothecation, assignment, deposit arrangement, encumbrance,
lien (statutory or other), charge, or preference, priority or other security interest or preferential arrangement in the nature of a security interest of any kind or nature whatsoever (including any conditional sale, Capital Lease Obligation,
Synthetic Lease Obligation, or other title retention agreement, any easement, right of way or other encumbrance on title to real property, and any financing lease having substantially the same economic effect as any of the foregoing) and (b) in
the case of securities, any purchase option, call or similar right of a third party with respect to such securities. 

“Liquidation” means the exercise by the Administrative Agent or Collateral Agent of those rights and remedies accorded
to such Agents under the Loan Documents and applicable Law as a creditor of the Loan Parties with respect to the realization on the Collateral, including (after the occurrence and continuation of an Event of Default) the conduct by the Loan Parties
acting with the consent of the Administrative Agent, of any public, private or GOB sale or other disposition of the Collateral for the purpose of liquidating the Collateral. Derivations of the word “Liquidation” (such as
“Liquidate”) are used with like meaning in this Agreement. 
 “Loan” means an extension of credit by
a Lender to the Borrowers under Article II in the form of a Revolving Loan, a Swing Line Loan or a Term Loan. 

  
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 “Loan Account” has the meaning assigned to such term in
Section 2.11(a). 
 “Loan Cap” means, at any time of determination, the lesser of (a) the
Aggregate Revolving Commitments plus the Aggregate Term Outstandings, or (b) the Borrowing Base. 
 “Loan
Documents” means this Agreement, each Note, each Issuer Document, the Fee Letter, all Borrowing Base Certificates, the Blocked Account Agreements, the Credit Card Notifications, the Security Documents, each Facility Guaranty, and any other
instrument or agreement now or hereafter executed and delivered in connection herewith, or in connection with any transaction arising out of any Cash Management Services, and any Bank Products provided by any Lender or any of its Affiliates, each as
amended and in effect from time to time. 
 “Loan Parties” means, collectively, the Borrowers and each
Guarantor. 
 “Material Adverse Effect” means (a) a material adverse change in, or a material adverse
effect upon, the operations, business, properties, liabilities (actual or contingent), condition (financial or otherwise) or prospects of the Lead Borrower and its Subsidiaries taken as a whole; (b) a material impairment of the ability of any
Loan Party to perform its obligations under any Loan Document to which it is a party; or (c) a material impairment of the rights and remedies of the Agent or the Lenders under any Loan Document or a material adverse effect upon the legality,
validity, binding effect or enforceability against any Loan Party of any Loan Document to which it is a party. In determining whether any individual event would result in a Material Adverse Effect, notwithstanding that such event in and of itself
does not have such effect, a Material Adverse Effect shall be deemed to have occurred if the cumulative effect of such event and all other then existing events would result in a Material Adverse Effect. 

“Material Contract” means, with respect to any Person, each contract to which such Person is a party, the termination or
breach of which would reasonably likely result in a Material Adverse Effect. 
 “Material Indebtedness” means
Indebtedness (other than the Obligations) of the Loan Parties in an aggregate principal amount exceeding $1,000,000. For purposes of determining the amount of Material Indebtedness at any time, the amount of the obligations in respect of any Swap
Contract at such time shall be calculated at the Swap Termination Value thereof. 
 “Maturity Date” means
January 3, 2016. 
 “Maximum Rate” has the meaning provided therefor in Section 10.09.

 “Measurement Period” means, at any date of determination, the most recently completed twelve
(12) Fiscal Months of the Lead Borrower. 
 “Moody’s” means Moody’s Investors Service, Inc. and
any successor thereto. 
 “Multiemployer Plan” means any employee benefit plan of the type described in
Section 4001(a)(3) of ERISA, to which the Borrower or any ERISA Affiliate makes or is obligated to make contributions, or during the preceding five plan years, has made or been obligated to make contributions. 

  
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 “Net Proceeds” means: 

(a) with respect to any Disposition by any Loan Party or any of its Subsidiaries, or any Extraordinary Receipt received or
paid to the account of any Loan Party or any of its Subsidiaries, the excess, if any, of (i) the sum of cash and cash equivalents received in connection with such transaction (including any cash or cash equivalents received by way of deferred
payment pursuant to, or by monetization of, a note receivable or otherwise, but only as and when so received) over (ii) the sum of (A) the principal amount of any Indebtedness that is secured by the applicable asset by a Lien permitted
hereunder which is senior to the Collateral Agent’s Lien on such asset and that is required to be repaid (or to establish an escrow for the future repayment thereof) in connection with such transaction (other than Indebtedness under the Loan
Documents), (B) the reasonable and customary out-of-pocket expenses incurred by such Loan Party or such Subsidiary in connection with such transaction (including, without limitation, appraisals, and brokerage, legal, title and recording or
transfer tax expenses and commissions) paid by any Loan Party to third parties (other than Affiliates)); and 

(b) with respect to the sale or issuance of any Equity Interest by any Loan Party or any of its Subsidiaries, or the
incurrence or issuance of any Indebtedness by any Loan Party or any of its Subsidiaries, the excess of (i) the sum of the cash and cash equivalents received in connection with such transaction over (ii) the underwriting discounts and
commissions, and other reasonable and customary out-of-pocket expenses, incurred by such Loan Party or such Subsidiary in connection therewith. 
 “Non-Consenting Lender” has the meaning provided therefor in Section 10.01. 
 “Notes” means, collectively, the Revolving Notes and the Term Notes. 
 “NPL” means the National Priorities List under CERCLA. 

“Obligations” means (a) all advances to, and debts (including principal, interest, fees, costs, and expenses),
liabilities, obligations, covenants, indemnities, and duties of, any Loan Party arising under any Loan Document or otherwise with respect to any Loan or Letter of Credit (including payments in respect of reimbursement of disbursements, interest
thereon and obligations to provide cash collateral therefor), whether direct or indirect (including those acquired by assumption), absolute or contingent, due or to become due, now existing or hereafter arising and including interest, fees, costs
and expenses that accrue after the commencement by or against any Loan Party or any Affiliate thereof of any proceeding under any Debtor Relief Laws naming such Person as the debtor in such proceeding, regardless of whether such interest and fees
are allowed claims in such proceeding, and (b) any Other Liabilities. 
 “Organization Documents” means,
(a) with respect to any corporation, the certificate or articles of incorporation and the bylaws (or equivalent or comparable constitutive documents with respect to any non-U.S. jurisdiction); (b) with respect to any limited liability
company, the certificate or articles of formation or organization and operating agreement; (c) with respect to any partnership, joint venture, trust or other form of business entity, the partnership, joint venture or other applicable agreement
of formation or organization and any agreement, instrument, filing 

  
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or notice with respect thereto filed in connection with its formation or organization with the applicable Governmental Authority in the jurisdiction of its formation or organization and, if
applicable, any certificate or articles of formation or organization of such entity, and (d) in each case, all shareholder or other equity holder agreements, voting trusts and similar arrangements to which such Person is a party or which is
applicable to its Equity Interests and all other arrangements relating to the Control or management of such Person. 

“Other Liabilities” means (a) any Cash Management Services furnished to any of the Loan Parties or any of their
Subsidiaries and/or (b) any transaction with any Agent, any Lender or any of their respective Affiliates, which arises out of any Bank Product entered into with any Loan Party and any such Person, as each may be amended and in effect from time
to time. 
 “Other Taxes” means all present or future stamp or documentary taxes or any other excise or
property taxes, charges or similar levies arising from any payment made hereunder or under any other Loan Document or from the execution, delivery or enforcement of, or otherwise with respect to, this Agreement or any other Loan Document.

 “Outstanding Amount” means (i) with respect to Revolving Loans and Swing Line Loans on any date, the
aggregate outstanding principal amount thereof after giving effect to any borrowings and prepayments or repayments of Revolving Loans and Swing Line Loans, as the case may be, occurring on such date; (ii) with respect to any L/C Obligations on
any date, the amount of such L/C Obligations on such date after giving effect to any L/C Credit Extension occurring on such date and any other changes in the aggregate amount of the L/C Obligations as of such date, including as a result of any
reimbursements by the Borrowers of Unreimbursed Amounts; and (iii) with respect to the Term Loan on any date, the aggregate outstanding principal amount thereof after giving effect to any prepayments or repayments of the Term Loan occurring on
such date. 
 “Overadvance” means a Credit Extension to the extent that, immediately after its having been
made, Availability is less than zero. 
 “Participant” has the meaning specified in
Section 10.06(c). 
 “Payment Conditions” means, at the time of determination with respect to any
specified transaction or payment, that (a) no Default or Event of Default then exists or would arise as a result of entering into such transaction or the making such payment, (b) prior to, and on a pro forma basis after giving effect to,
such transaction or payment, the Availability Condition has been satisfied and the Consolidated Fixed Charge Coverage Ratio, calculated on a pro-forma basis for the most recent Measurement Period prior to such transaction or payment, will be equal
to or greater than 1.1:1.0. Prior to undertaking any transaction or payment which is subject to the Payment Conditions, the Loan Parties shall deliver to the Administrative Agent either evidence of satisfaction of the conditions contained in clause
(b) above on a basis reasonably satisfactory to the Administrative Agent. 
 “PBGC” means the Pension
Benefit Guaranty Corporation. 
 “PCAOB” means the Public Company Accounting Oversight Board. 

  
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 “Pension Plan” means any “employee pension benefit plan” (as such
term is defined in Section 3(2) of ERISA), other than a Multiemployer Plan, that is subject to Title IV of ERISA and is sponsored or maintained by any Borrower or any ERISA Affiliate or to which any Borrower or any ERISA Affiliate contributes
or has an obligation to contribute, or in the case of a multiple employer or other plan described in Section 4064(a) of ERISA, has made contributions at any time during the immediately preceding five plan years. 

“Permitted Acquisition” means an Acquisition in which all of the following conditions are satisfied: 

(a) No Default or Event of Default then exists or would arise from the consummation of such Acquisition; 

(b) Such Acquisition shall have been approved by the Board of Directors of the Person (or similar governing body if such
Person is not a corporation) which is the subject of such Acquisition and such Person shall not have announced that it will oppose such Acquisition or shall not have commenced any action which alleges that such Acquisition shall violate applicable
Law; 
 (c) If the total consideration for any Acquisition or series of related Acquisitions is greater than
$10.0 million, the Lead Borrower shall have furnished the Administrative Agent with thirty (30) days’ prior written notice of such intended Acquisition and shall have furnished the Administrative Agent with a current draft of the
Acquisition Documents (and final copies thereof as and when executed), a summary of any due diligence undertaken by the Loan Parties in connection with such Acquisition, appropriate financial statements of the Person which is the subject of such
Acquisition, pro forma projected financial statements for the twelve (12) month period following such Acquisition after giving effect to such Acquisition (including balance sheets, cash flows and income statements by month for the acquired
Person, individually, and on a Consolidated basis with all Loan Parties), and such other information as the Administrative Agent may reasonably require, all of which shall be reasonably satisfactory to the Administrative Agent; 

(d) If the proceeds of any Credit Extension are being used to directly or indirectly finance all or any portion of any
Acquisition, either (i) the legal structure of such Acquisition shall be acceptable to the Administrative Agent in its discretion, or (ii) the Loan Parties shall have provided the Administrative Agent with a solvency opinion from an
unaffiliated third party valuation firm reasonably satisfactory to the Administrative Agent; 
 (f) After giving
effect to the Acquisition, if the Acquisition is an Acquisition of the Equity Interests, a Loan Party shall acquire and own, directly or indirectly, a majority of the Equity Interests in the Person being acquired and shall Control a majority of any
voting interests or shall otherwise Control the governance of the Person being acquired; 

  
 32 

 (g) The Administrative Agent shall have received (i) the results of
appraisals of the assets (or the assets of the Person) to be acquired in such Acquisition and of a commercial finance examination of the Person which is (or whose assets are) being acquired, and (ii) such other due diligence as the
Administrative Agent may reasonably require, all of the results of the foregoing to be reasonably satisfactory to the Administrative Agent; 
 (h) Any assets acquired shall be utilized in, and if the Acquisition involves a merger, consolidation or stock acquisition, the Person which is the subject of such Acquisition shall be engaged in, a
business otherwise permitted to be engaged in by a Borrower under this Agreement; 
 (i) If the Person which is
the subject of such Acquisition will be maintained as a Subsidiary of a Loan Party, or if the assets acquired in an acquisition will be transferred to a Subsidiary which is not then a Loan Party, such Subsidiary shall have been joined as a
“Borrower” hereunder or as a Guarantor, as the Administrative Agent shall determine, and the Collateral Agent shall have received a first priority security interest in such Subsidiary’s Equity Interests, Inventory, Accounts and other
property of the same nature as constitutes collateral under the Security Documents; and 
 (j) The Loan Parties
shall have satisfied the Payment Conditions. 
 “Permitted Disposition” means any of the following: 

(a) dispositions of inventory in the ordinary course of business; 

(b) bulk sales of other dispositions of the Inventory of a Loan Party not in the ordinary course of business in connection
with Store closings, at arm’s length, provided that such Store closures and related Inventory dispositions shall not exceed (i) in any Fiscal Year of the Lead Borrower and its Subsidiaries, ten percent (10%) of the
number of the Loan Parties’ Stores as of the beginning of such Fiscal Year (net of new Store openings) and (ii) in the aggregate from and after the Effective Date, twenty-five percent (25%) of the number of the Loan Parties’
Stores in existence as of the Effective Date (net of new Store openings), provided further that all sales of Inventory in connection with Store closings shall be in accordance with liquidation agreements and with professional liquidators
reasonably acceptable to the Agents, provided further that all Net Proceeds received in connection therewith are applied to the Obligations if then required in accordance with Section 2.05 hereof; 

(c) non-exclusive licenses of Intellectual Property of a Loan Party or any of its Subsidiaries in the ordinary course of
business; 
 (d) licenses for the conduct of licensed departments within the Loan Parties’ Stores in the
ordinary course of business; provided that, if requested by the Agents, the Agents shall have entered into an intercreditor agreement with the Person operating such licensed department on terms and conditions reasonably satisfactory to the Agents;

  
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 (e) dispositions of Equipment in the ordinary course of business that is
substantially worn, damaged, obsolete or, in the judgment of a Loan Party, no longer useful or necessary in its business or that of any Subsidiary, whether or not replaced with similar property having at least equivalent value; 

(f) Sales, transfers and dispositions among the Loan Parties or by any Subsidiary to a Loan Party; and 

(g) Sales, transfers and dispositions of by any Subsidiary which is not a Loan Party to another Subsidiary that is not a
Loan Party. 
 “Permitted Encumbrances” means: 

(a) Liens imposed by law for Taxes that are not yet due or are being contested in compliance with
Section 6.04; 
 (b) Carriers’, warehousemen’s, mechanics’, materialmen’s,
repairmen’s and other like Liens imposed by applicable Law, arising in the ordinary course of business and securing obligations that are not overdue by more than thirty (30) days or are being contested in compliance with
Section 6.04; 
 (c) Pledges and deposits made in the ordinary course of business in compliance with
workers’ compensation, unemployment insurance and other social security laws or regulations, other than any Lien imposed by ERISA; 
 (d) Deposits to secure the performance of bids, trade contracts and leases (other than Indebtedness), statutory obligations, surety and appeal bonds, performance bonds and other obligations of a like
nature incurred in the ordinary course of business; 
 (e) Liens in respect of judgments that would not
constitute an Event of Default hereunder; 
 (f) Easements, covenants, conditions, restrictions, building code
laws, zoning restrictions, rights-of-way and similar encumbrances on real property imposed by law or arising in the ordinary course of business that do not secure any monetary obligations and do not materially detract from the value of the affected
property or materially interfere with the ordinary conduct of business of a Loan Party and such other minor title defects or survey matters that are disclosed by current surveys that, in each case, do not materially interfere with the current use of
the real property; 
 (g) Liens existing on the Closing Date and listed on Schedule 7.01 and any renewals
or extensions thereof, provided that (i) the property covered thereby is not changed, (ii) the amount secured or benefited thereby is not increased, (iii) the direct or any contingent obligor with respect thereto is not
changed, and (iv) any renewal or extension of the obligations secured or benefited thereby is otherwise permitted hereunder); 

  
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 (h) Liens on fixed or capital assets acquired by any Loan Party which are
permitted under clause (c) of the definition of Permitted Indebtedness so long as (i) such Liens and the Indebtedness secured thereby are incurred prior to or within ninety (90) days after such acquisition, (ii) the Indebtedness
secured thereby does not exceed the cost of acquisition of such fixed or capital assets and (iii) such Liens shall not extend to any other property or assets of the Loan Parties; 

(i) Liens in favor of the Collateral Agent; 

(j) Landlords’ and lessors’ Liens in respect of rent not in default; 

(k) Possessory Liens in favor of brokers and dealers arising in connection with the acquisition or disposition of
Investments owned as of the Closing Date and Permitted Investments, provided that such liens (a) attach only to such Investments and (b) secure only obligations incurred in the ordinary course and arising in connection with the
acquisition or disposition of such Investments and not any obligation in connection with margin financing; 
 (l)
Liens arising solely by virtue of any statutory or common law provisions relating to banker’s liens, liens in favor of securities intermediaries, rights of setoff or similar rights and remedies as to deposit accounts or securities accounts or
other funds maintained with depository institutions or securities intermediaries; 
 (m) Liens arising from
precautionary UCC filings regarding “true” operating leases or, to the extent permitted under the Loan Documents, the consignment of goods to a Loan Party; 

(n) voluntary Liens on property (other than property of the type included in the Borrowing Base) in existence at the time
such property is acquired pursuant to a Permitted Acquisition or on such property of a Subsidiary of a Loan Party in existence at the time such Subsidiary is acquired pursuant to a Permitted Acquisition; provided that such Liens are
not incurred in connection with, or in anticipation of, such Permitted Acquisition and do not attach to any other assets of any Loan Party or any Subsidiary; and 

(o) Liens in favor of customs and revenues authorities imposed by applicable Law arising in the ordinary course of
business in connection with the importation of goods and securing obligations (i) that are not overdue by more than thirty (30) days, or (ii)(A) that are being contested in good faith by appropriate proceedings, (B) the applicable
Loan Party or Subsidiary has set aside on its books adequate reserves with respect thereto in accordance with GAAP and (C) such contest effectively suspends collection of the contested obligation and enforcement of any Lien securing such
obligation; 
 provided, however, that, except as provided in any one or more of clauses (a) through (o) above, the term
“Permitted Encumbrances” shall not include any Lien securing Indebtedness. 
 “Permitted
Indebtedness” means: 

  
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 (a) Indebtedness outstanding on the Closing Date and listed on Schedule
7.03 and any refinancings, refundings, renewals or extensions thereof, provided that (i) the amount of such Indebtedness is not increased at the time of such refinancing, refunding, renewal or extension except by an amount
equal to a reasonable premium or other reasonable amount paid, and fees and expenses reasonably incurred, in connection with such refinancing and by an amount equal to any existing commitments unutilized thereunder, and the direct or contingent
obligor with respect thereto is not changed as a result of or in connection with such refinancing, refunding, renewal or extension, (ii) the result of such extension, renewal or replacement shall not be an earlier maturity date or decreased
weighted average life of such Indebtedness, and (iii) the terms relating to principal amount, amortization, maturity, collateral (if any) and subordination (if any), and other material terms taken as a whole, of any such refinancing, refunding,
renewing or extending Indebtedness, and of any agreement entered into and of any instrument issued in connection therewith, are no less favorable in any material respect to the Loan Parties or the Lenders than the terms of any agreement or
instrument governing the Indebtedness being refinanced, refunded, renewed or extended, and the interest rate applicable to any such refinancing, refunding, renewing or extending Indebtedness does not exceed the then applicable market interest rate;

 (b) Indebtedness of any Loan Party to any other Loan Party; 

(c) Without duplication of Indebtedness described in clause (f) of this definition, purchase money Indebtedness of
any Loan Party to finance the acquisition of any fixed or capital assets, including Capital Lease Obligations and Synthetic Lease Obligations, and any Indebtedness assumed in connection with the acquisition of any such assets or secured by a Lien on
any such assets prior to the acquisition thereof, and extensions, renewals and replacements of any such Indebtedness that do not increase the outstanding principal amount thereof or result in an earlier maturity date or decreased weighted average
life thereof provided that the terms relating to principal amount, amortization, maturity, collateral (if any) and subordination (if any), and other material terms taken as a whole, of any such refinancing, refunding, renewing or extending
Indebtedness, and of any agreement entered into and of any instrument issued in connection therewith, are no less favorable in any material respect to the Loan Parties or the Lenders than the terms of any agreement or instrument governing the
Indebtedness being refinanced, refunded, renewed or extended, and the interest rate applicable to any such refinancing, refunding, renewing or extending Indebtedness does not exceed the then applicable market interest rate; provided,
however, that the aggregate principal amount of Indebtedness permitted by this clause (c) shall not exceed $30,000,000 at any time outstanding; provided further that, if requested by the Collateral Agent, the Loan Parties
shall cause the holders of such Indebtedness to enter into a Collateral Access Agreement on terms reasonably satisfactory to the Collateral Agent; 
 (d) obligations (contingent or otherwise) of any Loan Party or any Subsidiary thereof existing or arising under any Swap Contract, provided that such obligations are (or were) entered into
by such Person in the ordinary course of business for the purpose of directly mitigating risks associated with fluctuations in interest rates or foreign exchange rates, and not for purposes of speculation or taking a “market view;”
provided  

  
 36 

 
further that the aggregate Swap Termination Value thereof shall not exceed $30,000,000 at any time outstanding; 

(e) Contingent liabilities under surety bonds or similar instruments incurred in the ordinary course of business in
connection with the construction or improvement of retail stores; 
 (f) Indebtedness incurred for the
construction or acquisition or improvement of, or to finance or to refinance, any Real Estate owned by any Loan Party (including therein any Indebtedness incurred in connection with sale-leaseback transactions permitted hereunder), provided
that, (A) all Net Proceeds received in connection with any such Indebtedness are applied to the Obligations if then required in accordance with Section 2.05 hereof, and (B) the Loan Parties shall cause the holders of
such Indebtedness to enter into a Collateral Access Agreement on terms reasonably satisfactory to the Collateral Agent; 
 (g) Indebtedness with respect to the deferred purchase price for any Permitted Acquisition, provided that such Indebtedness does not require the payment in cash of principal (other than in respect
of working capital adjustments) prior to the Maturity Date, has a maturity which extends beyond the Maturity Date, and is subordinated to the Obligations on terms reasonably acceptable to the Agents; 

(h) Indebtedness of any Person that becomes a Subsidiary of a Loan Party in a Permitted Acquisition, which Indebtedness is
existing at the time such Person becomes a Subsidiary of a Loan Party (other than Indebtedness incurred solely in contemplation of such Person’s becoming a Subsidiary of a Loan Party); 

(i) The Obligations; and 
 (j) Unsecured Indebtedness in an aggregate principal amount not to exceed $60,000,000 at any time outstanding. 
 “Permitted Investments” means: 
 (a) readily
marketable obligations issued or directly and fully guaranteed or insured by the United States of America or any agency or instrumentality thereof having maturities of not more than 360 days from the date of acquisition thereof, provided
that the full faith and credit of the United States of America is pledged in support thereof; 
 (b)
commercial paper issued by any Person organized under the laws of any state of the United States of America and rated at least “Prime-1” (or the then equivalent grade) by Moody’s or at least “A-1” (or the then
equivalent grade) by S&P, in each case with maturities of not more than 180 days from the date of acquisition thereof; 
 (c) time deposits with, or insured certificates of deposit or bankers’ acceptances of, any commercial bank that (i) (A) is a Lender or (B) is organized under the laws of the United
States of America, any state thereof or the District of Columbia or is the principal banking subsidiary of a bank holding company organized under the laws 

  
 37 

 
of the United States of America, any state thereof or the District of Columbia, and is a member of the Federal Reserve System, (ii) issues (or the parent of which issues) commercial paper
rated as described in clause (b) of this definition and (iii) has combined capital and surplus of at least $1,000,000,000, in each case with maturities of not more than 180 days from the date of acquisition thereof; 

(d) Fully collateralized repurchase agreements with a term of not more than thirty (30) days for securities described
in clause (a) above (without regard to the limitation on maturity contained in such clause) and entered into with a financial institution satisfying the criteria described in clause (c) above or with any primary dealer and having a market
value at the time that such repurchase agreement is entered into of not less than 100% of the repurchase obligation of such counterparty entity with whom such repurchase agreement has been entered into; 

(e) Investments, classified in accordance with GAAP as current assets of the Loan Parties, in any money market fund,
mutual fund, or other investment companies that are registered under the Investment Company Act of 1940, as amended and in effect from time to time, which are administered by financial institutions that have the highest rating obtainable from either
Moody’s or S&P, and which invest solely in one or more of the types of securities described in clauses (a) through (d) above; 
 (f) Investments existing on the Closing Date, and set forth on Schedule 7.02, but not any increase in the amount thereof or any other modification of the terms thereof; 

(g)(i) Investments by any Loan Party and its Subsidiaries in their respective Subsidiaries outstanding on the Closing
Date, (ii) additional Investments by any Loan Party and its Subsidiaries in Loan Parties, and (iii) additional Investments by Subsidiaries of the Loan Parties that are not Loan Parties in other Subsidiaries that are not Loan Parties;

 (h) Investments consisting of extensions of credit in the nature of accounts receivable or notes receivable
arising from the grant of trade credit in the ordinary course of business, and Investments received in satisfaction or partial satisfaction thereof from financially troubled account debtors to the extent reasonably necessary in order to prevent or
limit loss; 
 (i) Guarantees constituting Permitted Indebtedness; 

(j) Investments by any Loan Party in Swap Contracts permitted hereunder; 

(k) Investments received in connection with the bankruptcy or reorganization of, or settlement of delinquent accounts and
disputes with, customers and suppliers, in each case in the ordinary course of business; 
 (l) advances to
officers, directors and employees of the Loan Parties and Subsidiaries in the ordinary course of business in an amount not to exceed $500,000 to any individual at any time or in an aggregate amount not to exceed $2,500,000 at any time outstanding;

  
 38 

 (m) Investments constituting Permitted Acquisitions; 

(n) Capital contributions made by any Loan Party to another Loan Party; and 

(o) Other Investments (including less than fifty percent (50%) of the Capital Stock of any other Person) in an
aggregate amount not to exceed $15,000,000 outstanding at any time; 
 provided, however, that notwithstanding the foregoing,
after the occurrence and during the continuance of a Cash Dominion Event, no such Investments specified in clauses (a) through (e) shall be permitted unless (i) either (A) no Revolving Credit Loans are then outstanding, or
(B) the Investment is a temporary Investment pending expiration of an Interest Period for a LIBO Rate Loan, the proceeds of which Investment will be applied to the Obligations after the expiration of such Interest Period, and (ii) such
Investments are pledged to the Collateral Agent as additional collateral for the Obligations pursuant to such agreements as may be reasonably required by the Collateral Agent. 
 “Permitted Overadvance” means an Overadvance made by the Administrative Agent, in its discretion, which: 

(a) Is made to maintain, protect or preserve the Collateral and/or the Credit Parties’ rights under the Loan
Documents or which is otherwise for the benefit of the Credit Parties; or 
 (b) Is made to enhance the
likelihood of, or to maximize the amount of, repayment of any Obligation; or 
 (c) Is made to pay any other
amount chargeable to any Loan Party hereunder; and 
 (d) Together with all other Permitted Overadvances then
outstanding, shall not (i) exceed five percent (5%) of the Borrowing Base at any time or (ii) unless a Liquidation is taking place, remain outstanding for more than forty-five (45) consecutive Business Days, or (iii) be made
on more than two occasions in any 180 day period, unless in each case, the Required Lenders otherwise agree; 
 provided, however,
that the foregoing shall not (i) modify or abrogate any of the provisions of Section 2.03 or Section 2.04 regarding the Revolving Lender’s obligations with respect to Letters of Credit or Swing Line Loans, or
(ii) result in any claim or liability against the Administrative Agent (regardless of the amount of any Overadvance) for “inadvertent Overadvances” (i.e. where an Overadvance results from changed circumstances beyond the control of
the Administrative Agent (such as a reduction in the collateral value)), and such “inadvertent Overadvances” shall not reduce the amount of Permitted Overadvances allowed hereunder, and provided further that in no event shall
the Administrative Agent make an Overadvance if, after giving effect thereto, the principal amount of the Credit Extensions would exceed the sum of the Aggregate Revolving Commitments (as in effect prior to any termination of the Commitments
pursuant to Section 2.06 hereof) and the Aggregate Term Outstandings. 

  
 39 

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

“Plan” means any “employee benefit plan” (as such term is defined in Section 3(3) of ERISA) established
by a Borrower or, with respect to any such plan that is subject to Section 412 of the Code or Title IV of ERISA, any ERISA Affiliate. 
 “Platform” has the meaning specified in Section 6.02. 

“Pledge Agreement” means the Pledge Agreement dated as of the Closing Date among the Loan Parties party thereto and the
Collateral Agent, as amended and in effect from time to time. 
 “Prepayment Event” means: 

(a) (i) prior to the occurrence of a Cash Dominion Event, any sale, transfer or other disposition (including pursuant to a
sale and leaseback transaction) of any property or asset of a Loan Party in an amount in excess of $1,000,000, and (ii) thereafter, any sale, transfer or other disposition (including pursuant to a sale and leaseback transaction) of any property
or asset of a Loan Party; 
 (b) Any casualty or other insured damage to, or any taking under power of eminent
domain or by condemnation or similar proceeding of, any property or asset of a Loan Party in an amount in excess of $1,000,000, unless (i) the proceeds therefrom are required to be paid to the holder of a Lien on such property or asset having
priority over the Lien of the Collateral Agent or (ii) prior to the occurrence of a Cash Dominion Event, the proceeds therefrom are utilized for purposes of replacing or repairing the assets in respect of which such proceeds, awards or payments
were received within 180 days of the occurrence of the damage to or loss of the assets being repaired or replaced; 
 (c) The issuance by a Loan Party of any Equity Interests, other than any such issuance of Equity Interests (i) to a Loan Party, (ii) as consideration for a Permitted Acquisition or (iii) as
a compensatory issuance to any employee, director, or consultant (including under any option plan); 
 (d) The
incurrence by a Loan Party of any Indebtedness for borrowed money other than Permitted Indebtedness; or 
 (e)
The receipt by any Loan Party of any other Extraordinary Receipts not described in clause (b) above. 
 “Real
Estate” means all Leases and all land, together with the buildings, structures, parking areas, and other improvements thereon, now or hereafter owned by any Loan Party, including all easements, rights-of-way, and similar rights relating
thereto and all leases, tenancies, and occupancies thereof. 
 “Register” has the meaning specified in
Section 10.06(c). 

  
 40 

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

“Related Parties” means, with respect to any Person, such Person’s Affiliates and the partners, directors,
officers, employees, agents and advisors of such Person and of such Person’s Affiliates. 
 “Reportable
Event” means any of the events set forth in Section 4043(c) of ERISA, other than events for which the 30 day notice period has been waived. 
 “Reports” has the meaning provided in Section 9.12(b). 
 “Request for Credit Extension” means (a) with respect to a Borrowing of Revolving Loans, a Revolving Loan Notice, (b) with respect to a conversion or continuation of Loans, a
Conversion/Continuation Notice, (c) with respect to an L/C Credit Extension, a Letter of Credit Application, and (d) with respect to a Swing Line Loan, a Swing Line Loan Notice. 

“Required Lenders” means, as of any date of determination, (i) two (2) or more Lenders holding more than 50%
of the sum of the Aggregate Revolving Commitments and the Aggregate Term Outstandings, or (ii) if the commitment of each Revolving Lender to make Revolving Loans and the obligation of the L/C Issuer to make L/C Credit Extensions have been
terminated pursuant to Section 8.02, two (2) or more Lenders holding in the aggregate more than 50% of the Total Outstandings (with the aggregate amount of each Revolving Lender’s risk participation and funded participation in
L/C Obligations and Swing Line Loans being deemed “held” by such Revolving Lender for purposes of this definition); provided that the Commitment of, and the portion of the Total Outstandings held or deemed held by, any
Defaulting Lender or a Deteriorating Lender shall be excluded for purposes of making a determination of Required Lenders. 

“Reserves” means all (if any) Inventory Reserves and Availability Reserves. 

“Responsible Officer” means the chief executive officer, president, chief financial officer, treasurer or assistant
treasurer of a Loan Party or any of the other individuals designated in writing to the Administrative Agent by an existing Responsible Officer of a Loan Party as an authorized signatory of any certificate or other document to be delivered hereunder.
Any document delivered hereunder that is signed by a Responsible Officer of a Loan Party shall be conclusively presumed to have been authorized by all necessary corporate, partnership and/or other action on the part of such Loan Party and such
Responsible Officer shall be conclusively presumed to have acted on behalf of such Loan Party. 
 “Restricted
Payment” means any dividend or other distribution (whether in cash, securities or other property) with respect to any capital stock or other Equity Interest of any Person or any of its Subsidiaries, or any payment (whether in cash,
securities or other property), including any sinking fund or similar deposit, on account of the purchase, redemption, retirement, defeasance, acquisition, cancellation or termination of any such capital stock or other Equity Interest, or on account
of any return of capital to such Person’s stockholders, partners or members (or the equivalent of any thereof), or any option, warrant or other right to acquire any 

  
 41 

 
such dividend or other distribution or payment. Without limiting the foregoing, “Restricted Payments” with respect to any Person shall also include all payments made by such Person with
any proceeds of a dissolution or liquidation of such Person. 
 “Revolving Applicable Percentage” means with
respect to any Revolving Lender at any time, the percentage (carried out to the fourth decimal place) of the Revolving Commitment of such Revolving Lender at such time to the Aggregate Revolving Commitments at such time. The initial Revolving
Applicable Percentage of each Revolving Lender is set forth opposite the name of such Revolving Lender on Schedule 2.01 or in the Assignment and Acceptance pursuant to which such Revolving Lender becomes a party hereto, as applicable, as such
Revolving Commitment may be increased or decreased in accordance with the terms of this Agreement. 
 “Revolving
Borrowing” means a borrowing consisting of simultaneous Revolving Loans of the same Type and, in the case of LIBO Rate Loans, having the same Interest Period made by each of the Revolving Lenders pursuant to Section 2.01.

 “Revolving Commitment” means, as to any Revolving Lender, its obligation to (a) make Revolving Loans to
the Borrowers pursuant to Section 2.01, (b) purchase participations in L/C Obligations, and (c) purchase participations in Swing Line Loans, in an aggregate principal amount at any one time outstanding not to exceed the amount
set forth opposite such Revolving Lender’s name on Schedule 2.01 or in the Assignment and Assumption pursuant to which such Revolving Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in
accordance with this Agreement (including, without limitation, pursuant to Sections 2.05(d), 2.06, and 2.15). 
 “Revolving Lender” means each Lender holding any portion of the Revolving Loans or participations in L/C Obligations or Swing Line Loans. 

“Revolving Loan” has the meaning specified in Section 2.01. 

“Revolving Loan Notice” means a notice of a Revolving Borrowing pursuant to Section 2.02, which, if in
writing, shall be substantially in the form of Exhibit A-1. 
 “Revolving Note” means a promissory note
made by the Borrowers in favor of a Revolving Lender evidencing Revolving Loans made by such Revolving Lender, substantially in the form of Exhibit C-1. 
 “S&P” means Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc. and any successor thereto. 

“Sarbanes-Oxley” means the Sarbanes-Oxley Act of 2002, as amended and in effect from time to time. 

“SEC” means the Securities and Exchange Commission, or any Governmental Authority succeeding to any of its principal
functions. 
 “Securities Laws” means the Securities Act of 1933, the Securities Exchange Act of 1934,
Sarbanes-Oxley, and the applicable accounting and auditing principles, rules, standards 

  
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and practices promulgated, approved or incorporated by the SEC or the PCAOB, in each case as amended and in effect from time to time. 

“Security Agreement” means the Security Agreement dated as of the Closing Date among the Loan Parties and the Collateral
Agent, as amended and in effect from time to time. 
 “Security Documents” means the Security Agreement, the
Pledge Agreement, the Intellectual Property Security Agreement, the Blocked Account Agreements, the Credit Card Notifications, and each other security agreement or other instrument or document executed and delivered to the Collateral Agent pursuant
to this Agreement or any other Loan Document granting a Lien to secure any of the Obligations. 
 “Settlement
Date” has the meaning provided in Section 2.14(a). 
 “Shareholders’ Equity” means,
as of any date of determination, consolidated shareholders’ equity of the Lead Borrower and its Subsidiaries as of that date determined in accordance with GAAP. 
 “Shrink” means Inventory which has been lost, misplaced, stolen, or is otherwise unaccounted for. 
 “Shrink Reserve” means an amount reasonably estimated by the Administrative Agent to be equal to that amount which is required in order that the Shrink reflected in the Borrowers’
stock ledger would be reasonably equivalent to the Shrink calculated as part of the Borrowers’ most recent physical inventory. 
 “Solvent” and “Solvency” means, with respect to any Person on a particular date, that on such date (a) at fair valuation, all of the properties and assets of such
Person are greater than the sum of the debts, including contingent liabilities, of such Person, (b) the present fair saleable value of the properties and assets of such Person is not less than the amount that would be required to pay the
probable liability of such Person on its debts as they become absolute and matured, (c) such Person is able to realize upon its properties and assets and pay its debts and other liabilities, contingent obligations and other commitments as they
mature in the normal course of business, (d) such Person does not intend to, and does not believe that it will, incur debts beyond such Person’s ability to pay as such debts mature, and (e) such Person is not engaged in a business or
a transaction, and is not about to engage in a business or transaction, for which such Person’s properties and assets would constitute unreasonably small capital after giving due consideration to the prevailing practices in the industry in
which such Person is engaged. The amount of all guarantees at any time shall be computed as the amount that, in light of all the facts and circumstances existing at the time, can reasonably be expected to become an actual or matured liability.

 “Standby Letter of Credit” means any Letter of Credit that is not a Commercial Letter of Credit and that
(a) is used in lieu or in support of performance guaranties or performance, surety or similar bonds (excluding appeal bonds) arising in the ordinary course of business, (b) is used in lieu or in support of stay or appeal bonds,
(c) supports the payment of insurance premiums for reasonably necessary casualty insurance carried by any of the Loan Parties, or (d) supports 

  
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payment or performance for identified purchases or exchanges of products or services in the ordinary course of business. 
 “Stated Amount” means at any time the maximum amount for which a Letter of Credit may be honored. 
 “Statutory Reserve Rate” means a fraction (expressed as a decimal), the numerator of which is the number one and the denominator of which is the number one minus the aggregate of the
maximum reserve percentages (including any marginal, special, emergency or supplemental reserves) expressed as a decimal established by the FRB to which the Administrative Agent is subject with respect to the Adjusted LIBO Rate, for
eurocurrency funding (currently referred to as “Eurocurrency Liabilities” in Regulation D of the Board). Such reserve percentages shall include those imposed pursuant to such Regulation D. LIBO Rate Loans shall be deemed to
constitute eurocurrency funding and to be subject to such reserve requirements without benefit of or credit for proration, exemptions or offsets that may be available from time to time to any Lender under such Regulation D or any comparable
regulation. The Statutory Reserve Rate shall be adjusted automatically on and as of the effective date of any change in any reserve percentage. 
 “Store” means any retail store (which may include any real property, fixtures, equipment, inventory and other property related thereto) operated, or to be operated, by any Loan Party.

 “Subordinated Indebtedness” means Indebtedness which is expressly subordinated in right of payment to the
prior payment in full of the Obligations and which is in form and on terms approved in writing by the Administrative Agent. 

“Subsidiary” of a Person means a corporation, partnership, joint venture, limited liability company or other business
entity of which a majority of the shares Equity Interests having ordinary voting power for the election of directors or other governing body are at the time beneficially owned, or the management of which is otherwise controlled, directly, or
indirectly through one or more intermediaries, or both, by such Person. Unless otherwise specified, all references herein to a “Subsidiary” or to “Subsidiaries” shall refer to a Subsidiary or Subsidiaries of a Loan Party.

 “Swap Contract” means (a) any and all rate swap transactions, basis swaps, credit derivative
transactions, forward rate transactions, commodity swaps, commodity options, forward commodity contracts, equity or equity index swaps or options, bond or bond price or bond index swaps or options or forward bond or forward bond price or forward
bond index transactions, interest rate options, forward foreign exchange transactions, cap transactions, floor transactions, collar transactions, currency swap transactions, cross-currency rate swap transactions, currency options, spot contracts, or
any other similar transactions or any combination of any of the foregoing (including any options to enter into any of the foregoing), whether or not any such transaction is governed by or subject to any master agreement, and (b) any and all
transactions of any kind, and the related confirmations, which are subject to the terms and conditions of, or governed by, any form of master agreement published by the International Swaps and Derivatives Association, Inc., any International Foreign
Exchange Master Agreement, or any other master agreement (any such master agreement, together with any related schedules, 

  
 44 

 
a “Master Agreement”), including any such obligations or liabilities under any Master Agreement. 
 “Swap Termination Value” means, in respect of any one or more Swap Contracts, after taking into account the effect of any legally enforceable netting agreement relating to such Swap
Contracts, (a) for any date on or after the date such Swap Contracts have been closed out and termination value(s) determined in accordance therewith, such termination value(s), and (b) for any date prior to the date referenced in clause
(a), the amount(s) determined as the mark-to-market value(s) for such Swap Contracts, as determined based upon one or more mid-market or other readily available quotations provided by any recognized dealer in such Swap Contracts (which may include a
Lender or any Affiliate of a Lender). 
 “Swing Line” means the revolving credit facility made available by the
Swing Line Lender pursuant to Section 2.04. 
 “Swing Line Borrowing” means a borrowing of a Swing
Line Loan pursuant to Section 2.04. 
 “Swing Line Lender” means Bank of America, in its capacity
as provider of Swing Line Loans, or any successor swing line lender hereunder. 
 “Swing Line Loan” has the
meaning specified in Section 2.04(a). 
 “Swing Line Loan Notice” means a notice of a Swing Line
Borrowing pursuant to Section 2.04(a), which, if in writing, shall be substantially in the form of Exhibit B. 
 “Swing Line Sublimit” means an amount equal to the lesser of (a) $20,000,000 and (b) the Aggregate Revolving Commitments. The Swing Line Sublimit is part of, and not in addition
to, the Aggregate Revolving Commitments. 
 “Synthetic Lease Obligation” means the monetary obligation of a
Person under (a) a so-called synthetic, off-balance sheet or tax retention lease, or (b) an agreement for the use or possession of property (including sale and leaseback transactions), in each case, creating obligations that do not appear
on the balance sheet of such Person but which, upon the application of any Debtor Relief Laws to such Person, would be characterized as the indebtedness of such Person (without regard to accounting treatment). 

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

“Term Applicable Percentage” means with respect to any Term Lender at any time (i) prior to the making of the Term
Loans, the percentage (carried out to the fourth decimal place) of the Term Commitment of such Term Lender at such time to the Aggregate Term Commitments at such time, and (ii) thereafter, the percentage (carried out to the fourth decimal
place) of the outstanding principal balance of such Term Lender’s Term Loan at such time to the Aggregate Term Outstandings at such time. The initial Term Applicable Percentage of each Term Lender is

  
 45 

 
set forth opposite the name of such Term Lender on Schedule 2.01 or in the Assignment and Acceptance pursuant to which such Term Lender becomes a party hereto, as applicable. 

“Term Lender” means each Lender holding any portion of the Term Loan. 

“Term Loan” means the term loan made by the Term Lenders on the Effective Date pursuant to Section 2.01(b)
hereof. 
 “Term Loan Appraisal Percentage” means, (i) from the Effective Date through and including the
date on which the first repayment of the principal amount of the Term Loan is made pursuant to Section 2.6(d) (such date, the “Initial Term Amortization Date”), 7.5%, (ii) from the day after the Initial Term
Amortization Date through and including the date on which the second repayment of the principal amount of the Term Loan is made pursuant to Section 2.6(d) (such date, the “Second Term Amortization Date”), 5.63%,
(iii) thereafter, the number resulting from the following calculation: (A) 1.0 minus (B) the aggregate amount of all principal repayments or prepayments made in respect of the Term Loan since the Effective Date as of the date
of such calculation divided by $10,000,000, multiplied by (C) 0.075. 
 “Term Loan Availability
Condition” means, for any date of calculation with respect to any voluntary prepayment of the Term Loans, Average Daily Availability, after giving pro forma effect to such prepayment, (i) was greater than or equal to thirty-five
percent (35%) of the Loan Cap for the one hundred eighty (180) days immediately prior to such prepayment, and (ii) will be, on such a pro forma and projected basis, greater than or equal to thirty-five percent (35%) of the Loan
Cap for one hundred eighty (180) days immediately following, such prepayment. 
 “Term Commitment” means,
as to any Term Lender, its obligation to make a Term Loan to the Borrowers pursuant to Section 2.01 in an aggregate principal amount set forth opposite such Term Lender’s name on Schedule 2.01. 

“Term Loan Reserve” means an Availability Reserve in an amount equal to the difference (but not less than zero) between
(a) the Aggregate Term Outstandings, and (b) the sum of (i) the Appraised Value of Eligible Inventory, net of Inventory Reserves, multiplied by the Term Loan Appraisal Percentage multiplied by the Cost of Eligible
Inventory, plus (ii) with respect to any Eligible Letter of Credit, the Appraised Value of the Inventory supported by such Eligible Letter of Credit, multiplied by the Term Loan Appraisal Percentage multiplied by the Cost of
Eligible Inventory. 
 “Term Note” means a promissory note made by the Borrower in favor of a Term Lender
evidencing the Term Loan made by such Term Lender, substantially in the form of Exhibit C-2. 
 “Term Prepayment
Conditions” means, at the time of determination with respect to any voluntary prepayment of the Term Loans, that (a) no Default or Event of Default then exists or would arise as a result of the making such voluntary prepayment,
(b) the Term Loan Availability Condition has been satisfied and (c) the Consolidated Fixed Charge Coverage Ratio, calculated on a pro-forma basis for the most recent Measurement Period prior to such voluntary prepayment, will be equal to
or greater than 1.1:1.0. Prior to undertaking any prepayment which is subject to the Term Prepayment Conditions, the Loan Parties shall deliver to the 

  
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Administrative Agent evidence of satisfaction of the conditions contained in clauses (b) and (c) above on a basis reasonably satisfactory to the Administrative Agent. 

“Termination Date” means the earliest to occur of (i) the Maturity Date, (ii) the date on which the maturity
of the Obligations is accelerated (or deemed accelerated) and the Commitments are irrevocably terminated (or deemed terminated) in accordance with Article VIII, or (iii) the date of the occurrence of any Event of Default pursuant to
Section 8.01(f). 
 “Total Outstandings” means the aggregate Outstanding Amount of all Loans and
all L/C Obligations. 
 “Type” means, with respect to a Loan, its character as a Base Rate Loan or a LIBO Rate
Loan. 
 “UCC” or “Uniform Commercial Code” means the Uniform Commercial Code as in effect
from time to time in the State of New York; provided, however, that if a term is defined in Article 9 of the Uniform Commercial Code differently than in another Article thereof, the term shall have the meaning set forth in Article 9;
provided further that, if by reason of mandatory provisions of law, perfection, or the effect of perfection or non-perfection, of a security interest in any Collateral or the availability of any remedy hereunder is governed by the
Uniform Commercial Code as in effect in a jurisdiction other than the State of New York, “Uniform Commercial Code” means the Uniform Commercial Code as in effect in such other jurisdiction for purposes of the provisions hereof relating to
such perfection or effect of perfection or non-perfection or availability of such remedy, as the case may be. 

“Unfunded Pension Liability” means the excess of a Pension Plan’s benefit liabilities under
Section 4001(a)(16) of ERISA, over the current value of that Pension Plan’s assets, determined in accordance with the assumptions used for funding the Pension Plan pursuant to Section 412 of the Code for the applicable plan year.

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

“Unreimbursed Amount” has the meaning specified in Section 2.03(c)(i). 

“Unrestricted Subsidiary” means each of Cost-Plus of California, Inc. and Cost-Plus Imports, Inc., each a Delaware
corporation. 
 “USA PATRIOT Act” means the Uniting and Strengthening America by Providing Appropriate Tools Required
to Intercept and Obstruct Terrorism Act of 2001 (Title III of Pub. L. 107-56 (signed into law October 26, 2001)), as amended and in effect from time to time. 
 1.02 Other Interpretive Provisions. With reference to this Agreement and each other Loan Document, unless otherwise specified herein or in such other Loan Document: 

(a) The definitions of terms herein shall apply equally to the singular and plural forms of the terms defined. Whenever
the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include,” “includes” and “including” shall be deemed to be followed by the
phrase “without 

  
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limitation.” The word “will” shall be construed to have the same meaning and effect as the word “shall.” Unless the context requires otherwise, (i) any
definition of or reference to any agreement, instrument or other document (including any Organization Document) shall be construed as referring to such agreement, instrument or other document as from time to time amended, supplemented or otherwise
modified (subject to any restrictions on such amendments, supplements or modifications set forth herein or in any other Loan Document), (ii) any reference herein to any Person shall be construed to include such Person’s successors and
assigns, (iii) the words “herein,” “hereof” and “hereunder,” and words of similar import when used in any Loan Document, shall be construed to refer to such Loan Document in its entirety and
not to any particular provision thereof, (iv) all references in a Loan Document to Articles, Sections, Exhibits and Schedules shall be construed to refer to Articles and Sections of, and Exhibits and Schedules to, the Loan Document in which
such references appear, (v) any reference to any law shall include all statutory and regulatory provisions consolidating, amending replacing or interpreting such law and any reference to any law or regulation shall, unless otherwise specified,
refer to such law or regulation as amended, modified or supplemented from time to time, and (vi) the words “asset” and “property” shall be construed to have the same meaning and effect and to refer to any and
all tangible and intangible assets and properties, including cash, securities, accounts and contract rights. 

(b) In the computation of periods of time from a specified date to a later specified date, the word
“from” means “from and including;” the words “to” and “until” each mean “to but excluding;” and the word “through” means “to and
including.” 
 (c) Section headings herein and in the other Loan Documents are included for convenience
of reference only and shall not affect the interpretation of this Agreement or any other Loan Document. 
 1.03 Accounting
Terms. 
 (a) Generally. All accounting terms not specifically or completely defined herein shall be
construed in conformity with, and all financial data (including financial ratios and other financial calculations) required to be submitted pursuant to this Agreement shall be prepared in conformity with, GAAP applied on a consistent basis, as in
effect from time to time, applied in a manner consistent with that used in preparing the Audited Financial Statements, except as otherwise specifically prescribed herein. 

(b) Changes in GAAP. If at any time any change in GAAP would affect the computation of any financial ratio or
requirement set forth in any Loan Document, and either the Lead Borrower or the Required Lenders shall so request, the Administrative Agent, the Lenders and the Borrowers shall negotiate in good faith to amend such ratio or requirement to preserve
the original intent thereof in light of such change in GAAP (subject to the approval of the Required Lenders); provided that, until so amended, (i) such ratio or requirement shall continue to be computed in accordance with GAAP prior to
such change therein and (ii) the Borrowers shall provide to the Administrative Agent and the Lenders financial statements and other documents required under this Agreement 

  
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or as reasonably requested hereunder setting forth a reconciliation between calculations of such ratio or requirement made before and after giving effect to such change in GAAP. 

1.04 Rounding. Any financial ratios required to be maintained by the Borrower pursuant to this Agreement shall be
calculated by dividing the appropriate component by the other component, carrying the result to one place more than the number of places by which such ratio is expressed herein and rounding the result up or down to the nearest number (with a
rounding-up if there is no nearest number). 
 1.05 Times of Day. Unless otherwise specified, all references
herein to times of day shall be references to Eastern time (daylight or standard, as applicable). 
 1.06 Letter of
Credit Amounts. Unless otherwise specified, all references herein to the amount of a Letter of Credit at any time shall be deemed to be the Stated Amount of such Letter of Credit in effect at such time; provided, however, that with
respect to any Letter of Credit that, by its terms of any Issuer Documents related thereto, provides for one or more automatic increases in the Stated Amount thereof, the amount of such Letter of Credit shall be deemed to be the maximum Stated
Amount of such Letter of Credit after giving effect to all such increases, whether or not such maximum Stated Amount is in effect at such time. 
 ARTICLE II. 
 THE COMMITMENTS AND CREDIT EXTENSIONS 

2.01 Loans; Reserves. 
 (a) Subject to the terms and conditions set forth herein, each Revolving Lender severally agrees to make loans (each such loan, a “Revolving Loan”) to the Borrowers from time to time, on
any Business Day during the Availability Period, subject in each case to the following limitations: 
 (i) after
giving effect to any Revolving Borrowing, the Total Outstandings shall not exceed the lesser of (A) the Aggregate Revolving Commitments plus the Aggregate Term Outstandings, or (B) the Borrowing Base; 

(ii) after giving effect to any Revolving Borrowing, the aggregate Outstanding Amount of the Revolving Loans of any
Lender, plus such Lender’s Revolving Applicable Percentage of the Outstanding Amount of all L/C Obligations, plus such Lender’s Revolving Applicable Percentage of the Outstanding Amount of all Swing Line Loans shall not
exceed such Lender’s Revolving Commitment; and 
 (iii) The Outstanding Amount of all L/C Obligations shall
not at any time exceed the Letter of Credit Sublimit. 
 Within the limits of each Lender’s Commitment, and subject to the other terms and
conditions hereof, the Borrowers may borrow under this Section 2.01, prepay under Section 2.05, and reborrow Revolving Loans (but not Term Loans) under this Section 2.01. Loans (other than Swing Line Loans) may be
Base Rate Loans or LIBO Rate Loans, as further provided herein. 

  
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 (b) Subject to the terms and conditions set forth herein, each of the Term
Lenders agrees to make a term loan (the “Term Loan”) to the Borrowers on the Effective Date, up to each such Term Lender’s Term Commitment. The aggregate principal amount of the Term Loan shall not exceed the lesser of the
Aggregate Term Commitments or $10,000,000. After giving effect to the making of the Term Loan, the Term Commitment of each Term Lender shall be terminated. 
 (c) The Administrative Agent shall have the right, at any time and from time to time after the Effective Date in its reasonable discretion, to establish, modify or eliminate Reserves. 

2.02 Borrowings, Conversions and Continuations of Loans. 

(a) Loans (other than Swing Line Loans) shall be either Base Rate Loans or LIBO Rate Loans, as the Lead Borrower may
request subject to and in accordance with this Section 2.02. All Swing Line Loans shall be only Base Rate Loans. Subject to the other provisions of this Section 2.02, Revolving Borrowings of more than one Type may be incurred
at the same time. 
 (b) Each Revolving Borrowing, each conversion of Loans from one Type to the other, and each
continuation of LIBO Rate Loans shall be made upon the Lead Borrower’s irrevocable notice to the Administrative Agent, which may be given by telephone. Each such notice must be received by the Administrative Agent not later than 3:00 p.m.
(i) three Business Days prior to the requested date of any Borrowing of, conversion to, or continuation of, LIBO Rate Loans or of any conversion of LIBO Rate Loans to Base Rate Loans, and (ii) one Business Day prior to the requested date
of any Borrowing of Base Rate Loans. Each telephonic notice by the Lead Borrower pursuant to this Section 2.02(b) must be confirmed promptly by delivery to the Administrative Agent of a written Revolving Loan Notice or
Conversion/Continuation Notice, as the case may be, appropriately completed and signed by a Responsible Officer of the Lead Borrower. Each Borrowing of, conversion to, or continuation of, LIBO Rate Loans shall be in a principal amount of $1,000,000
or a whole multiple of $500,000 in excess thereof. Except as provided in Sections 2.03(c) and 2.04(b), each Borrowing of or conversion to Base Rate Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in
excess thereof. Each Revolving Loan Notice (whether telephonic or written) shall specify (i) the requested date of the Borrowing (which shall be a Business Day), (ii) the principal amount of Revolving Loans to be borrowed, (iii) the
Type of Revolving Loans to be borrowed, and (iv) if applicable, the duration of the Interest Period with respect thereto. Each Conversion/Continuation Notice (whether telephonic or written) shall specify (i) whether the Borrowers are
requesting a conversion of Loans from one Type to the other or a continuation of LIBO Rate Loans, (ii) the requested date of the conversion or continuation, as the case may be (which shall be a Business Day), (iii) the principal amount of
Loans to be converted or continued, (iv) the Type of Loans to which existing Loans are to be converted, and (v) if applicable, the duration of the Interest Period with respect thereto. If the Lead Borrower fails to specify a Type of
Revolving Loan in a Revolving Loan Notice or if the Lead Borrower fails to give a timely notice of a conversion or continuation in a Conversion/Continuation Notice, then the applicable 

  
 50 

 
Loans shall be made as, or converted to, Base Rate Loans. Any such automatic conversion to Base Rate Loans shall be effective as of the last day of the Interest Period then in effect with respect
to the applicable LIBO Rate Loans. If the Lead Borrower requests a Borrowing of LIBO Rate Loans in any such Revolving Loan Notice or a conversion to, or continuation of, LIBO Rate Loans in a Conversion/Continuation Notice, but fails to specify an
Interest Period, it will be deemed to have specified an Interest Period of one month. Notwithstanding anything to the contrary herein, a Swing Line Loan may not be converted to a LIBO Rate Loan. 

(c) Following receipt of a Revolving Loan Notice, the Administrative Agent shall promptly notify each Revolving Lender of
the amount of its Revolving Applicable Percentage of the applicable Revolving Loans, and if no timely notice of a conversion or continuation in a Conversion/Continuation Notice is provided by the Lead Borrower, the Administrative Agent shall notify
each Lender of the details of any automatic conversion to Base Rate Loans described in Section 2.02(a). In the case of a Revolving Borrowing, each Revolving Lender shall make the amount of its Revolving Loan available to the
Administrative Agent in immediately available funds at the Administrative Agent’s Office not later than 1:00 p.m. on the Business Day specified in the applicable Revolving Loan Notice. Upon satisfaction of the applicable conditions set forth in
Section 4.02 (and, if such Borrowing is the initial Credit Extension, Section 4.01), the Administrative Agent shall use reasonable efforts to make all funds so received available to the Borrowers in like funds by no later
than 4:00 p.m. on the day of receipt by the Administrative Agent either by (i) crediting the account of the Lead Borrower on the books of Bank of America with the amount of such funds or (ii) wire transfer of such funds, in each case in
accordance with instructions provided to (and reasonably acceptable to) the Administrative Agent by the Lead Borrower; provided, however, that if, on the date the Revolving Loan Notice with respect to such Borrowing is given by the
Lead Borrower, there are L/C Borrowings outstanding, then the proceeds of such Borrowing, first, shall be applied to the payment in full of any such L/C Borrowings, and, second, shall be made available to the Borrowers as provided
above. 
 (d) The Administrative Agent, without the request of the Lead Borrower, may advance any interest, fee,
service charge, Credit Party Expenses, or other payment to which any Credit Party is entitled from the Loan Parties pursuant hereto or any other Loan Document and may charge the same to the Loan Account notwithstanding that an Overadvance may result
thereby; provided that in no event shall the Administrative Agent make an Overadvance if, after giving effect thereto, the principal amount of the Credit Extensions would exceed the sum of the Aggregate Revolving Commitments (as in effect
prior to any termination of the Commitments pursuant to Section 2.06 hereof) and the Aggregate Term Outstandings. The Administrative Agent shall advise the Lead Borrower of any such advance or charge promptly after the making thereof.
Such action on the part of the Administrative Agent shall not constitute a waiver of the Administrative Agent’s rights and the Borrowers’ obligations under Section 2.05. Any amount which is added to the principal balance of the
Loan Account as provided in this Section 2.02(c) shall bear interest at the interest rate then and thereafter applicable to Base Rate Loans. 

  
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 (e) Except as otherwise provided herein, a LIBO Rate Loan may be continued
or converted only on the last day of an Interest Period for such LIBO Rate Loan. During the existence of a Default, no Loans may be requested as, converted to, or continued as, LIBO Rate Loans without the Consent of the Required Lenders. 

(f) The Administrative Agent shall promptly notify the Lead Borrower and the Lenders of the interest rate applicable to
any Interest Period for LIBO Rate Loans upon determination of such interest rate. At any time that Base Rate Loans are outstanding, the Administrative Agent shall notify the Lead Borrower and the Lenders of any change in Bank of America’s prime
rate used in determining the Base Rate promptly following the public announcement of such change. 
 (g) After
giving effect to all Revolving Borrowings, all conversions of Loans from one Type to the other, and all continuations of Loans as the same Type, there shall not be more than six (6) Interest Periods in effect with respect to Loans. 

(h) The Administrative Agent, the Lenders, the Swing Line Lender and the L/C Issuer shall have no obligation to make any
Loan or to provide any Letter of Credit if an Overadvance would result. The Administrative Agent may, in its discretion, make Permitted Overadvances without the consent of the Lenders, the Swing Line Lender and the L/C Issuer and each Lender shall
be bound thereby. Any Permitted Overadvance may constitute a Swing Line Loan. A Permitted Overadvance is for the account of the Borrowers and shall constitute a Revolving Loan and an Obligation and shall be repaid by the Borrowers in accordance with
the provisions of Section 2.05(b). The making of any such Permitted Overadvance on any one occasion shall not obligate the Administrative Agent or any Lender to make or permit any Permitted Overadvance on any other occasion or to permit
such Permitted Overadvances to remain outstanding. The making by the Administrative Agent of a Permitted Overadvance shall not modify or abrogate any of the provisions of Section 2.03 or Section 2.04 regarding the Revolving
Lenders’ obligations to purchase participations with respect to Letters of Credit or Swing Line Loans. The Administrative Agent shall have no liability for, and no Loan Party or Credit Party shall have the right to, or shall, bring any claim of
any kind whatsoever against the Administrative Agent with respect to “inadvertent Overadvances” (i.e. where an Overadvance results from changed circumstances beyond the control of the Administrative Agent (such as a reduction in the
collateral value)) regardless of the amount of any such Overadvance(s). 
 2.03 Letters of Credit. 

(a) The Letter of Credit Commitment. 
 (i) Subject to the terms and conditions set forth herein, (A) the L/C Issuer agrees, in reliance upon the agreements of the Revolving Lenders set forth in this Section 2.03, (1) from
time to time on any Business Day during the period from the Effective Date until the Letter of Credit Expiration Date, to issue Letters of Credit for the account of the Borrowers, and to amend or extend Letters of Credit previously issued by it, in
accordance with Section 2.03(b) below, and (2)

  
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to honor drawings under the Letters of Credit, and (B) the Revolving Lenders severally agree to participate in Letters of Credit issued for the account of the Borrowers and any drawings
thereunder; provided that, after giving effect to any L/C Credit Extension with respect to any Letter of Credit, (x) the Total Outstandings shall not exceed the lesser of the Borrowing Base or the sum of the Aggregate Revolving
Commitments plus the Aggregate Term Outstandings, (y) the aggregate Outstanding Amount of the Revolving Loans of any Revolving Lender, plus such Revolving Lender’s Revolving Applicable Percentage of the Outstanding Amount of all L/C
Obligations, plus such Revolving Lender’s Revolving Applicable Percentage of the Outstanding Amount of all Swing Line Loans shall not exceed such Revolving Lender’s Revolving Commitment, and (z) the Outstanding Amount of the
L/C Obligations shall not exceed the Letter of Credit Sublimit. Each request by the Lead Borrower for the issuance or amendment of a Letter of Credit shall be deemed to be a representation by the Borrowers that the L/C Credit Extension so requested
complies with the conditions set forth in the proviso to the preceding sentence. Within the foregoing limits, and subject to the terms and conditions hereof, the Borrowers’ ability to obtain Letters of Credit shall be fully revolving, and
accordingly the Borrowers may, during the foregoing period, obtain Letters of Credit to replace Letters of Credit that have expired or that have been drawn upon and reimbursed. 

(ii) The L/C Issuer shall not issue any Letter of Credit, if: 

(A) subject to Section 2.03(b)(iii), the expiry date of such requested Standby Letter of Credit would occur
more than twelve months after the date of issuance or last extension, unless the Required Lenders have approved such expiry date; or 
 (B) subject to Section 2.03(b)(iii), the expiry date of such requested Commercial Letter of Credit would occur more than 120 days after the date of issuance or last extension, unless the
Required Lenders have approved such expiry date; or 
 (C) the expiry date of such requested Letter of Credit
would occur after the Letter of Credit Expiration Date, unless either such Letter of Credit is Cash Collateralized on or prior to the Letter of Credit Expiration Date or all the Lenders have approved such expiry date. 

(iii) The L/C Issuer shall not issue any Letter of Credit without the prior consent of the Administrative Agent if:

 (A) any order, judgment or decree of any Governmental Authority or arbitrator shall by its terms purport to
enjoin or restrain the L/C Issuer from issuing such Letter of Credit, or any Law applicable to the L/C Issuer or any request or directive (whether or not having the force of law) from any Governmental Authority with jurisdiction over the L/C Issuer
shall prohibit, or request that the L/C Issuer refrain from, the 

  
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issuance of letters of credit generally or such Letter of Credit in particular or shall impose upon the L/C Issuer with respect to such Letter of Credit any restriction, reserve or capital
requirement (for which the L/C Issuer is not otherwise compensated hereunder) not in effect on the Effective Date, or shall impose upon the L/C Issuer any unreimbursed loss, cost or expense which was not applicable on the Effective Date and which
the L/C Issuer in good faith deems material to it; 
 (B) the issuance of such Letter of Credit would violate
one or more policies of the L/C Issuer applicable to letters of credit generally; 
 (C) such Letter of Credit
is to be denominated in a currency other than Dollars; provided that if the L/C Issuer, in its discretion, issues a Letter of Credit denominated in a currency other than Dollars, all reimbursements by the Borrowers of the honoring of
any drawing under such Letter of Credit shall be paid in the currency in which such Letter of Credit was denominated; 
 (D) such Letter of Credit contains any provisions for automatic reinstatement of the Stated Amount after any drawing thereunder; or 

(E) a default of any Revolving Lender’s obligations to fund under Section 2.03(c) exists or any
Revolving Lender is at such time a Defaulting Lender or Deteriorating Lender hereunder, unless the L/C Issuer has entered into satisfactory arrangements with the Borrowers or such Revolving Lender to eliminate the L/C Issuer’s risk of
non-payment or non-reimbursement with respect to such Revolving Lender. 
 (iv) The L/C Issuer shall not amend
any Letter of Credit if the L/C Issuer would not be permitted at such time to issue such Letter of Credit in its amended form under the terms hereof or if the beneficiary of such Letter of Credit does not accept the proposed amendment to such Letter
of Credit. 
 (v) The L/C Issuer shall act on behalf of the Revolving Lenders with respect to any Letters of
Credit issued by it and the documents associated therewith, and the L/C Issuer shall have all of the benefits and immunities (A) provided to the Administrative Agent in Article IX with respect to any acts taken or omissions suffered by
the L/C Issuer in connection with Letters of Credit issued by it or proposed to be issued by it and Issuer Documents pertaining to such Letters of Credit as fully as if the term “Administrative Agent” as used in Article IX included
the L/C Issuer with respect to such acts or omissions, and (B) as additionally provided herein with respect to the L/C Issuer. 
 (b) Procedures for Issuance and Amendment of Letters of Credit; Auto-Extension Letters of Credit. 
 (i) Each Letter of Credit shall be issued or amended, as the case may be, upon the request of the Lead Borrower delivered to the L/C Issuer (with a

  
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copy to the Administrative Agent) in the form of a Letter of Credit Application, appropriately completed and signed by a Responsible Officer of the Lead Borrower. Such Letter of Credit
Application must be received by the L/C Issuer and the Administrative Agent not later than 3:00 p.m. at least two Business Days (or such other date and time as the Administrative Agent and the L/C Issuer may agree in a particular instance in their
sole discretion) prior to the proposed issuance date or date of amendment, as the case may be. In the case of a request for an initial issuance of a Letter of Credit, such Letter of Credit Application shall specify in form and detail satisfactory to
the L/C Issuer: (A) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day); (B) the amount thereof; (C) the expiry date thereof; (D) the name and address of the beneficiary thereof;
(E) the documents to be presented by such beneficiary in case of any drawing thereunder; (F) the full text of any certificate to be presented by such beneficiary in case of any drawing thereunder; and (G) such other matters as the L/C
Issuer may require. In the case of a request for an amendment of any outstanding Letter of Credit, such Letter of Credit Application shall specify in form and detail satisfactory to the L/C Issuer: (A) the Letter of Credit to be amended;
(B) the proposed date of amendment thereof (which shall be a Business Day); (C) the nature of the proposed amendment; and (D) such other matters as the L/C Issuer may require. Additionally, the Lead Borrower shall furnish to the L/C
Issuer and the Administrative Agent such other documents and information pertaining to such requested Letter of Credit issuance or amendment, including any Issuer Documents, as the L/C Issuer or the Administrative Agent may require. 

(ii) Promptly after receipt of any Letter of Credit Application, the L/C Issuer will confirm with the Administrative Agent
(by telephone or in writing) that the Administrative Agent has received a copy of such Letter of Credit Application from the Lead Borrower and, if not, the L/C Issuer will provide the Administrative Agent with a copy thereof. Unless the L/C Issuer
has received written notice from any Revolving Lender, the Administrative Agent or any Loan Party, at least one Business Day prior to the requested date of issuance or amendment of the applicable Letter of Credit, that one or more applicable
conditions contained in Article IV shall not then be satisfied, then, subject to the terms and conditions hereof, the L/C Issuer shall, on the requested date, issue a Letter of Credit for the account of the applicable Borrower or enter into
the applicable amendment, as the case may be, in each case in accordance with the L/C Issuer’s usual and customary business practices. Immediately upon the issuance or amendment of each Letter of Credit, each Revolving Lender shall be deemed to
(without any further action), and hereby irrevocably and unconditionally agrees to, purchase from the L/C Issuer, without recourse or warranty, a risk participation in such Letter of Credit in an amount equal to the product of such Revolving
Lender’s Revolving Applicable Percentage times the amount of such Letter of Credit. Upon any change in the Aggregate Revolving Commitments under this Agreement, it is hereby agreed that with respect to all L/C Obligations, there shall be
an automatic adjustment to the participations hereby created to reflect the new Revolving Applicable Percentages of the assigning and assignee Lenders. 

  
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 (iii) If the Lead Borrower so requests in any applicable Letter of Credit
Application, the L/C Issuer may, in its sole and absolute discretion, agree to issue a Standby Letter of Credit that has automatic extension provisions (each, an “Auto-Extension Letter of Credit”); provided that any such
Auto-Extension Letter of Credit must permit the L/C Issuer to prevent any such extension at least once in each twelve-month period (commencing with the date of issuance of such Standby Letter of Credit) by giving prior notice to the beneficiary
thereof not later than a day (the “Non-Extension Notice Date”) in each such twelve-month period to be agreed upon at the time such Standby Letter of Credit is issued. Unless otherwise directed by the L/C Issuer, the Lead Borrower
shall not be required to make a specific request to the L/C Issuer for any such extension. Once an Auto-Extension Letter of Credit has been issued, the Revolving Lenders shall be deemed to have authorized (but may not require) the L/C Issuer to
permit the extension of such Standby Letter of Credit at any time to an expiry date not later than the Letter of Credit Expiration Date; provided, however, that the L/C Issuer shall not permit any such extension if (A) the L/C
Issuer has determined that it would not be permitted, or would have no obligation, at such time to issue such Standby Letter of Credit in its revised form (as extended) under the terms hereof (by reason of the provisions of clauses (ii) or
(iii) of Section 2.03(a) or otherwise), or (B) it has received notice (which may be by telephone or in writing) on or before the day that is five Business Days before the Non-Extension Notice Date (1) from the
Administrative Agent that the Required Lenders have elected not to permit such extension or (2) from the Administrative Agent, any Lender or the Lead Borrower that one or more of the applicable conditions specified in Section 4.02
is not then satisfied, and in each such case directing the L/C Issuer not to permit such extension. 
 (iv)
Promptly after its delivery of any Letter of Credit or any amendment to a Letter of Credit to an advising bank with respect thereto or to the beneficiary thereof, the L/C Issuer will also deliver to the Lead Borrower and the Administrative Agent a
true and complete copy of such Letter of Credit or amendment. 
 (c) Drawings and Reimbursements; Funding of
Participations. 
 (i) Upon receipt from the beneficiary of any Letter of Credit of any notice of a drawing
under such Letter of Credit, the L/C Issuer shall notify the Lead Borrower and the Administrative Agent thereof; provided, however, that any failure to give or delay in giving such notice shall not relieve the Borrowers of their
obligation to reimburse the L/C Issuer and the Revolving Lenders with respect to any such payment. Not later than 11:00 a.m. on the date of any payment by the L/C Issuer under a Letter of Credit (each such date, an “Honor Date”),
the Borrowers shall reimburse the L/C Issuer through the Administrative Agent in an amount equal to the amount of such drawing. If the Borrowers fail to so reimburse the L/C Issuer by such time, the Administrative Agent shall promptly notify each
Revolving Lender of the Honor Date, the amount of the unreimbursed drawing (the “Unreimbursed Amount”), and the amount of such 

  
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Revolving Lender’s Revolving Applicable Percentage thereof. In such event, the Borrowers shall be deemed to have requested a Revolving Borrowing of Base Rate Loans to be disbursed on the
Honor Date in an amount equal to the Unreimbursed Amount, without regard to the minimum and multiples specified in Section 2.02 for the principal amount of Base Rate Loans, but subject to the amount of the unutilized portion of the
Aggregate Revolving Commitments and the conditions set forth in Section 4.02 (other than the delivery of a Revolving Loan Notice). Any notice given by the L/C Issuer or the Administrative Agent pursuant to this
Section 2.03(c)(i) may be given by telephone if immediately confirmed in writing; provided that the lack of such an immediate confirmation shall not affect the conclusiveness or binding effect of such notice. 

(ii) Each Revolving Lender shall, upon any notice pursuant to Section 2.03(c)(i), make funds available to the
Administrative Agent for the account of the L/C Issuer at the Administrative Agent’s Office in an amount equal to its Revolving Applicable Percentage of the Unreimbursed Amount not later than 1:00 p.m. on the Business Day specified in such
notice by the Administrative Agent, whereupon, subject to the provisions of Section 2.03(c)(iii), each Revolving Lender that so makes funds available shall be deemed to have made a Base Rate Loan to the Borrowers in such amount. The
Administrative Agent shall remit the funds so received to the L/C Issuer. 
 (iii) With respect to any
Unreimbursed Amount that is not fully refinanced by a Revolving Borrowing of Base Rate Loans because the conditions set forth in Section 4.02 cannot be satisfied or for any other reason, the Borrowers shall be deemed to have incurred
from the L/C Issuer an L/C Borrowing in the amount of the Unreimbursed Amount that is not so refinanced, which L/C Borrowing shall be due and payable on demand (together with interest) and shall bear interest at the Default Rate. In such event, each
Revolving Lender’s payment to the Administrative Agent for the account of the L/C Issuer pursuant to Section 2.03(c)(i) shall be deemed payment in respect of its participation in such L/C Borrowing and shall constitute an L/C
Advance from such Revolving Lender in satisfaction of its participation obligation under this Section 2.03. 
 (iv) Until each Revolving Lender funds its Revolving Loan or L/C Advance pursuant to this Section 2.03(c) to reimburse the L/C Issuer for any amount drawn under any Letter of Credit, interest
in respect of such Revolving Lender’s Revolving Applicable Percentage of such amount shall be solely for the account of the L/C Issuer. 
 (v) Each Revolving Lender’s obligation to make Revolving Loans or L/C Advances to reimburse the L/C Issuer for amounts drawn under Letters of Credit, as contemplated by this
Section 2.03(c), shall be absolute and unconditional and shall not be affected by any circumstance, including (A) any setoff, counterclaim, recoupment, defense or other right which such Revolving Lender may have against the L/C
Issuer, any Borrower or any other Person for any reason whatsoever, (B) the occurrence or continuance of a Default, or (C) any 

  
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other occurrence, event or condition, whether or not similar to any of the foregoing; provided, however, that each Revolving Lender’s obligation to make Revolving Loans
pursuant to this Section 2.03(c) is subject to the conditions set forth in Section 4.02 (other than delivery by the Lead Borrower of a Revolving Loan Notice). No such making of an L/C Advance shall relieve or otherwise impair
the obligation of the Borrowers to reimburse the L/C Issuer for the amount of any payment made by the L/C Issuer under any Letter of Credit, together with interest as provided herein. 

(vi) If any Revolving Lender fails to make available to the Administrative Agent for the account of the L/C Issuer any
amount required to be paid by such Revolving Lender pursuant to the foregoing provisions of this Section 2.03(c) by the time specified in Section 2.03(c)(i), the L/C Issuer shall be entitled to recover from such Revolving
Lender (acting through the Administrative Agent), on demand, such amount with interest thereon for the period from the date such payment is required to the date on which such payment is immediately available to the L/C Issuer at a rate per annum
equal to the greater of the Federal Funds Rate and a rate determined by the L/C Issuer in accordance with banking industry rules on interbank compensation plus any administrative, processing or similar fees customarily charged by the L/C Issuer in
connection with the foregoing. If such Revolving Lender pays such amount (with interest and fees as aforesaid), the amount so paid shall constitute such Revolving Lender’s Revolving Loan included in the relevant Revolving Borrowing or L/C
Advance in respect of the relevant L/C Borrowing, as the case may be. A certificate of the L/C Issuer submitted to any Revolving Lender (through the Administrative Agent) with respect to any amounts owing under this clause (vi) shall be
conclusive absent manifest error. 
 (d) Repayment of Participations. 

(i) At any time after the L/C Issuer has made a payment under any Letter of Credit and has received from any Revolving
Lender such Revolving Lender’s L/C Advance in respect of such payment in accordance with Section 2.03(c), if the Administrative Agent receives for the account of the L/C Issuer any payment in respect of the related Unreimbursed
Amount or interest thereon (whether directly from the Borrowers or otherwise, including proceeds of Cash Collateral applied thereto by the Administrative Agent), the Administrative Agent will distribute to such Revolving Lender its Revolving
Applicable Percentage thereof (appropriately adjusted, in the case of interest payments, to reflect the period of time during which such Revolving Lender’s L/C Advance was outstanding) in the same funds as those received by the Administrative
Agent. 
 (ii) If any payment received by the Administrative Agent for the account of the L/C Issuer pursuant to
Section 2.03(c)(i) is required to be returned under any of the circumstances described in Section 10.05 (including pursuant to any settlement entered into by the L/C Issuer in its discretion), each Revolving Lender shall pay
to the Administrative Agent for the account of the L/C Issuer its 

  
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Revolving Applicable Percentage thereof on demand of the Administrative Agent, plus interest thereon from the date of such demand to the date such amount is returned by such Revolving Lender, at
a rate per annum equal to the Federal Funds Rate from time to time in effect. The obligations of the Revolving Lenders under this clause shall survive the payment in full of the Obligations and the termination of this Agreement. 

(e) Obligations Absolute. The obligation of the Borrowers to reimburse the L/C Issuer for each drawing under each
Letter of Credit and to repay each L/C Borrowing shall be absolute, unconditional and irrevocable, and shall be paid strictly in accordance with the terms of this Agreement under all circumstances, including the following: 

(i) any lack of validity or enforceability of such Letter of Credit, this Agreement, or any other Loan Document;

 (ii) the existence of any claim, counterclaim, setoff, defense or other right that the Borrowers or any
Subsidiary may have at any time against any beneficiary or any transferee of such Letter of Credit (or any Person for whom any such beneficiary or any such transferee may be acting), the L/C Issuer or any other Person, whether in connection with
this Agreement, the transactions contemplated hereby or by such Letter of Credit or any agreement or instrument relating thereto, or any unrelated transaction; 
 (iii) any draft, demand, certificate or other document presented under such Letter of Credit proving to be forged, fraudulent, invalid or insufficient in any respect or any statement therein being untrue
or inaccurate in any respect; or any loss or delay in the transmission or otherwise of any document required in order to make a drawing under such Letter of Credit; 

(iv) any payment by the L/C Issuer under such Letter of Credit against presentation of a draft or certificate that does
not strictly comply with the terms of such Letter of Credit; or any payment made by the L/C Issuer under such Letter of Credit to any Person purporting to be a trustee in bankruptcy, debtor-in-possession, assignee for the benefit of creditors,
liquidator, receiver or other representative of or successor to any beneficiary or any transferee of such Letter of Credit, including any arising in connection with any proceeding under any Debtor Relief Law; 

(v) any other circumstance or happening whatsoever, whether or not similar to any of the foregoing, including any other
circumstance that might otherwise constitute a defense available to, or a discharge of, the Borrowers or any of their Subsidiaries; or 
 (vi) the fact that any Event of Default shall have occurred and be continuing. 

The Lead Borrower shall promptly examine a copy of each Letter of Credit and each amendment thereto that is delivered to it and, in the
event of any claim of noncompliance with 

  
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the Lead Borrower’s instructions or other irregularity, the Lead Borrower will immediately notify the L/C Issuer. The Borrowers shall be conclusively deemed to have waived any such claim
against the L/C Issuer and its correspondents unless such notice is given as aforesaid. 
 (f) Role of L/C
Issuer. Each Lender and the Borrowers agree that, in paying any drawing under a Letter of Credit, the L/C Issuer shall not have any responsibility to obtain any document (other than any sight draft, certificates and documents expressly required
by the Letter of Credit) or to ascertain or inquire as to the validity or accuracy of any such document or the authority of the Person executing or delivering any such document. None of the L/C Issuer, the Administrative Agent, any of their
respective Related Parties nor any correspondent, participant or assignee of the L/C Issuer shall be liable to any Lender for (i) any action taken or omitted in connection herewith at the request or with the approval of the Lenders or the
Required Lenders, as applicable; (ii) any action taken or omitted in the absence of gross negligence or willful misconduct; (iii) any error, omission, interruption, loss or delay in transmission or delivery of any draft, notice or other
communication under or relating to any Letter of Credit or any error in interpretation of technical terms; or (iv) the due execution, effectiveness, validity or enforceability of any document or instrument related to any Letter of Credit or
Issuer Document. The Borrowers hereby assume all risks of the acts or omissions of any beneficiary or transferee with respect to its use of any Letter of Credit; provided, however, that this assumption is not intended to, and shall
not, preclude the Borrowers’ pursuing such rights and remedies as it may have against the beneficiary or transferee at law or under any other agreement. None of the L/C Issuer, the Administrative Agent, any of their respective Related Parties
nor any correspondent, participant or assignee of the L/C Issuer shall be liable or responsible for any of the matters described in clauses (i) through (v) of Section 2.03(e); provided, however, that anything in
such clauses to the contrary notwithstanding, the Borrowers may have a claim against the L/C Issuer, and the L/C Issuer may be liable to the Borrowers, to the extent, but only to the extent, of any direct, as opposed to consequential or exemplary,
damages suffered by the Borrowers which the Borrowers prove were caused by the L/C Issuer’s willful misconduct or gross negligence or the L/C Issuer’s willful failure to pay under any Letter of Credit after the presentation to it by the
beneficiary of a sight draft and certificate(s) strictly complying with the terms and conditions of a Letter of Credit. In furtherance, and not in limitation, of the foregoing, the L/C Issuer may accept documents that appear on their face to be in
order, without responsibility for further investigation, regardless of any notice or information to the contrary (or the L/C Issuer may refuse to accept and make payment upon such documents if such documents are not in strict compliance with the
terms of such Letter of Credit), and the L/C Issuer shall not be responsible for the validity or sufficiency of any instrument transferring or assigning or purporting to transfer or assign a Letter of Credit or the rights or benefits thereunder or
proceeds thereof, in whole or in part, which may prove to be invalid or ineffective for any reason. 
 (g)
Cash Collateral. Upon the request of the Administrative Agent, (i) if the L/C Issuer has honored any full or partial drawing request under any Letter of Credit and such drawing has resulted in an L/C Borrowing, or (ii) if, as of the
Letter of Credit Expiration Date, any L/C Obligation for any reason remains outstanding, the Borrowers shall, in each case, immediately Cash Collateralize the then Outstanding Amount of all 

  
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L/C Obligations. Sections 2.05 and 8.02(c) set forth certain additional requirements to deliver Cash Collateral hereunder. For purposes of this Section 2.03,
Section 2.05 and Section 8.02(c), “Cash Collateralize” means to pledge and deposit with or deliver to the Administrative Agent, for the benefit of the L/C Issuer and the Revolving Lenders, as collateral for
the L/C Obligations, cash or deposit account balances in an amount equal to 105% of the Outstanding Amount of all L/C Obligations, pursuant to documentation in form and substance satisfactory to the Administrative Agent and the L/C Issuer (which
documents are hereby Consented to by the Lenders). Derivatives of such term have corresponding meanings. The Borrowers hereby grant to the Collateral Agent a security interest in all such cash, deposit accounts and all balances therein and all
proceeds of the foregoing. Cash Collateral shall be maintained in blocked, non-interest bearing deposit accounts at Bank of America. If, at any time, the Administrative Agent determines that any funds held as Cash Collateral are subject to any right
or claim of any Person other than the Administrative Agent or that the total amount of such funds is less than the aggregate Outstanding Amount of all L/C Obligations, the Borrowers will, forthwith upon demand by the Administrative Agent, pay to the
Administrative Agent, as additional funds to be deposited as Cash Collateral, an amount equal to the excess of (x) such aggregate Outstanding Amount over (y) the total amount of funds, if any, then held as Cash Collateral that the
Administrative Agent determines to be free and clear of any such right and claim. Upon the drawing of any Letter of Credit for which funds are on deposit as Cash Collateral, such funds shall be applied, to the extent permitted under applicable Laws,
to reimburse the L/C Issuer and, to the extent not so applied, shall thereafter be applied to satisfy other Obligations. 
 (h) Applicability of ISP and UCP. Unless otherwise expressly agreed by the L/C Issuer and the Lead Borrower when a Letter of Credit is issued, (i) the rules of the ISP shall apply to each
Standby Letter of Credit, and (ii) the rules of the Uniform Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce at the time of issuance shall apply to each Commercial Letter of
Credit. 
 (i) Letter of Credit Fees. The Borrowers shall pay to the Administrative Agent for the account
of each Revolving Lender in accordance with its Revolving Applicable Percentage a Letter of Credit fee (the “Letter of Credit Fee”) (i) for each Commercial Letter of Credit equal to the Applicable Margin for LIBO Rate Loans
consisting of Revolving Loans minus one percent (1.00%) times the daily Stated Amount under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit), and (ii) for each Standby Letter
of Credit equal to the Applicable Margin for LIBO Rate Loans consisting of Revolving Loans times the daily Stated Amount under such Letter of Credit. The Applicable Margin for purposes of calculating the initial Letter of Credit Fees will be
determined based upon the Borrower’s Availability as of the Effective Date and will be reset quarterly thereafter based upon the Average Daily Availability for the most recently completed calendar quarter. For purposes of computing the daily
amount available to be drawn under any Letter of Credit, the amount of the Letter of Credit shall be determined in accordance with Section 1.06. Letter of Credit Fees shall be (i) due and payable on the first Business Day after the
end of each calendar quarter, commencing with the first such date to occur after the issuance 

  
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of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand, and (ii) computed on a quarterly basis in arrears. If there is any change in the Applicable Margin
during any quarter, the daily amount available to be drawn under of each Letter of Credit shall be computed and multiplied by the Applicable Margin separately for each period during such quarter that such Applicable Margin was in effect.
Notwithstanding anything to the contrary contained herein, while any Event of Default exists, the Administrative Agent may, and upon the request of the Required Lenders shall, notify the Lead Borrower that all Letter of Credit Fees shall accrue at
the Default Rate and thereafter such Letter of Credit Fees shall accrue at the Default Rate to the fullest extent permitted by applicable Laws. 
 (j) Documentary and Processing Charges Payable to L/C Issuer. The Borrowers shall pay directly to the L/C Issuer, for its own account, the customary issuance, presentation, amendment and other
processing fees, and other standard costs and charges, of the L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.

 (k) Conflict with Issuer Documents. In the event of any conflict between the terms hereof and the terms
of any Issuer Document, the terms hereof shall control. 
 2.04 Swing Line Loans. 

(a) The Swing Line. Subject to the terms and conditions set forth herein, the Swing Line Lender, in reliance upon
the agreements of the other Revolving Lenders set forth in this Section 2.04, may, in its discretion, make loans (each such loan, a “Swing Line Loan”) to the Borrowers from time to time on any Business Day during the
Availability Period in an aggregate amount not to exceed at any time outstanding the amount of the Swing Line Sublimit, notwithstanding the fact that such Swing Line Loans, when aggregated with the Revolving Applicable Percentage of the Outstanding
Amount of Revolving Loans and L/C Obligations of the Revolving Lender acting as Swing Line Lender, may exceed the amount of such Revolving Lender’s Revolving Commitment; provided, however, that after giving effect to any Swing
Line Loan, (i) the Total Outstandings shall not exceed the lesser of (A) the Aggregate Revolving Commitments plus the Aggregate Term Outstandings, or (B) the Borrowing Base, and (ii) the aggregate Outstanding Amount of the
Revolving Loans of any Revolving Lender at such time, plus such Revolving Lender’s Revolving Applicable Percentage of the Outstanding Amount of all L/C Obligations at such time, plus such Revolving Lender’s Revolving
Applicable Percentage of the Outstanding Amount of all Swing Line Loans at such time shall not exceed such Revolving Lender’s Revolving Commitment, and provided, further, that the Borrowers shall not use the proceeds of any Swing
Line Loan to refinance any outstanding Swing Line Loan and provided further that in no event shall the Swing Line Lender make any Swing Line Loan at any time when any Revolving Lender is at such time a Defaulting Lender or Deteriorating
Lender hereunder, unless the Swing Line Lender has entered into satisfactory arrangements with the Borrower or such Lender to eliminate the Swing Line Lender’s risk of non-payment or non-reimbursement with respect to such Revolving Lender.
Within the foregoing limits, and subject to the other 

  
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terms and conditions hereof, the Borrowers may borrow under this Section 2.04, prepay under Section 2.05, and reborrow under this Section 2.04. Each Swing Line
Loan shall bear interest only at a rate based on the Base Rate. Immediately upon the making of a Swing Line Loan, each Revolving Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the Swing Line Lender a
risk participation in such Swing Line Loan in an amount equal to the product of such Revolving Lender’s Revolving Applicable Percentage times the amount of such Swing Line Loan. 

(b) Borrowing Procedures. Each Swing Line Borrowing shall be made upon the Lead Borrower’s irrevocable notice
to the Swing Line Lender and the Administrative Agent, which may be given by telephone. Each such notice must be received by the Swing Line Lender and the Administrative Agent not later than 3:00 p.m. on the requested borrowing date, and shall
specify (i) the amount to be borrowed, and (ii) the requested borrowing date, which shall be a Business Day. Each such telephonic notice must be confirmed promptly by delivery to the Swing Line Lender and the Administrative Agent of a
written Swing Line Loan Notice, appropriately completed and signed by a Responsible Officer of the Lead Borrower. Promptly after receipt by the Swing Line Lender of any telephonic Swing Line Loan Notice, the Swing Line Lender will confirm with the
Administrative Agent (by telephone or in writing) that the Administrative Agent has also received such Swing Line Loan Notice and, if not, the Swing Line Lender will notify the Administrative Agent (by telephone or in writing) of the contents
thereof. Unless the Swing Line Lender has received notice (by telephone or in writing) from the Administrative Agent at the request of the Required Lenders prior to 3:00 p.m. on the date of the proposed Swing Line Borrowing (A) directing the
Swing Line Lender not to make such Swing Line Loan as a result of the limitations set forth in the proviso to the first sentence of Section 2.04(a), or (B) that one or more of the applicable conditions specified in Article IV
is not then satisfied, then, subject to the terms and conditions hereof, the Swing Line Lender may, not later than 4:00 p.m. on the borrowing date specified in such Swing Line Loan Notice, make the amount of its Swing Line Loan available to the
Borrowers at its office by crediting the account of the Lead Borrower on the books of the Swing Line Lender in immediately available funds. 
 (c) Refinancing of Swing Line Loans. 
 (i) The Swing Line
Lender, at any time in its sole and absolute discretion, may request, on behalf of the Borrowers (which hereby irrevocably authorize the Swing Line Lender to so request on their behalf), that each Revolving Lender make a Base Rate Loan in an amount
equal to such Revolving Lender’s Revolving Applicable Percentage of the amount of Swing Line Loans then outstanding. Such request shall be made in writing (which written request shall be deemed to be a Revolving Loan Notice for purposes hereof)
and in accordance with the requirements of Section 2.02, without regard to the minimum and multiples specified therein for the principal amount of Base Rate Loans, but subject to the unutilized portion of the Aggregate Revolving
Commitments and the conditions set forth in Section 4.02. The Swing Line Lender shall furnish the Lead Borrower with a copy of the applicable Revolving Loan Notice promptly after delivering such notice to the Administrative Agent. Each
Revolving Lender 

  
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shall make an amount equal to its Revolving Applicable Percentage of the amount specified in such Revolving Loan Notice available to the Administrative Agent in immediately available funds for
the account of the Swing Line Lender at the Administrative Agent’s Office not later than 1:00 p.m. on the day specified in such Revolving Loan Notice, whereupon, subject to Section 2.04(c)(ii), each Revolving Lender that so makes
funds available shall be deemed to have made a Base Rate Loan to the Borrowers in such amount. The Administrative Agent shall remit the funds so received to the Swing Line Lender. 

(ii) If for any reason any Swing Line Loan cannot be refinanced by such a Revolving Borrowing in accordance with
Section 2.04(c)(i), the request for Base Rate Loans submitted by the Swing Line Lender as set forth herein shall be deemed to be a request by the Swing Line Lender that each of the Revolving Lenders fund its risk participation in the
relevant Swing Line Loan and each Revolving Lender’s payment to the Administrative Agent for the account of the Swing Line Lender pursuant to Section 2.04(c)(i) shall be deemed payment in respect of such participation. 

(iii) If any Revolving Lender fails to make available to the Administrative Agent for the account of the Swing Line Lender
any amount required to be paid by such Revolving Lender pursuant to the foregoing provisions of this Section 2.04(c) by the time specified in Section 2.04(c)(i), the Swing Line Lender shall be entitled to recover from such
Revolving Lender (acting through the Administrative Agent), on demand, such amount with interest thereon for the period from the date such payment is required to the date on which such payment is immediately available to the Swing Line Lender at a
rate per annum equal to the greater of the Federal Funds Rate and a rate determined by the Swing Line Lender in accordance with banking industry rules on interbank compensation plus any administrative, processing or similar fees customarily charged
by the Swing Line Lender in connection with the foregoing. If such Revolving Lender pays such amount (with interest and fees as aforesaid), the amount so paid shall constitute such Revolving Lender’s Revolving Loan included in the relevant
Revolving Borrowing or funded participation in the relevant Swing Line Loan, as the case may be. A certificate of the Swing Line Lender submitted to any Revolving Lender (through the Administrative Agent) with respect to any amounts owing under this
clause (iii) shall be conclusive absent manifest error. 
 (iv) Each Revolving Lender’s obligation to
make Revolving Loans or to purchase and fund risk participations in Swing Line Loans pursuant to this Section 2.04(c) shall be absolute and unconditional and shall not be affected by any circumstance, including (A) any setoff,
counterclaim, recoupment, defense or other right which such Revolving Lender may have against the Swing Line Lender, the Borrowers or any other Person for any reason whatsoever, (B) the occurrence or continuance of a Default, or (C) any
other occurrence, event or condition, whether or not similar to any of the foregoing; provided, however, that each Revolving Lender’s obligation to make Revolving Loans pursuant to this

  
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Section 2.04(c) is subject to the conditions set forth in Section 4.02. No such funding of risk participations shall relieve or otherwise impair the obligation of the
Borrowers to repay Swing Line Loans, together with interest as provided herein. 
 (d) Repayment of Participations.

 (i) At any time after any Revolving Lender has purchased and funded a risk participation in a Swing Line Loan,
if the Swing Line Lender receives any payment on account of such Swing Line Loan, the Swing Line Lender will distribute to such Revolving Lender its Revolving Applicable Percentage of such payment (appropriately adjusted, in the case of interest
payments, to reflect the period of time during which such Revolving Lender’s risk participation was funded) in the same funds as those received by the Swing Line Lender. 

(ii) If any payment received by the Swing Line Lender in respect of principal or interest on any Swing Line Loan is
required to be returned by the Swing Line Lender under any of the circumstances described in Section 10.05 (including pursuant to any settlement entered into by the Swing Line Lender in its discretion), each Revolving Lender shall pay to
the Swing Line Lender its Revolving Applicable Percentage thereof on demand of the Administrative Agent, plus interest thereon from the date of such demand to the date such amount is returned, at a rate per annum equal to the Federal Funds Rate. The
Administrative Agent will make such demand upon the request of the Swing Line Lender. The obligations of the Revolving Lenders under this clause shall survive the payment in full of the Obligations and the termination of this Agreement. 

(e) Interest for Account of Swing Line Lender. The Swing Line Lender shall be responsible for invoicing the
Borrowers for interest on the Swing Line Loans. Until each Revolving Lender funds its Base Rate Loan or risk participation pursuant to this Section 2.04 to refinance such Revolving Lender’s Revolving Applicable Percentage of any
Swing Line Loan, interest in respect of such Revolving Applicable Percentage shall be solely for the account of the Swing Line Lender. 
 (f) Payments Directly to Swing Line Lender. The Borrowers shall make all payments of principal and interest in respect of the Swing Line Loans directly to the Swing Line Lender. 

2.05 Term Loan Amortization; Prepayments. 
 (a) The Borrowers may, upon irrevocable notice from the Lead Borrower to the Administrative Agent, at any time or from time to time voluntarily prepay Revolving Loans in whole or in part, without premium
or penalty, provided that (i) such notice must be received by the Administrative Agent not later than 11:00 a.m. (A) three Business Days prior to any date of prepayment of LIBO Rate Loans and (B) on the date of prepayment of
Base Rate Loans; (ii) any prepayment of LIBO Rate Loans shall be in a principal amount of $500,000 or a whole multiple of $500,000 in excess thereof; and (iii)

  
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any prepayment of Base Rate Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof or, in each case, if less, the entire principal amount thereof then
outstanding. Each such notice shall specify the date and amount of such prepayment and the Type(s) of Loans to be prepaid and, if LIBO Rate Loans, the Interest Period(s) of such Loans. The Administrative Agent will promptly notify each Revolving
Lender of its receipt of each such notice, and of the amount of such Revolving Lender’s Revolving Applicable Percentage of such prepayment. If such notice is given by the Lead Borrower, the Borrowers shall make such prepayment and the payment
amount specified in such notice shall be due and payable on the date specified therein. Any prepayment of a LIBO Rate Loan shall be accompanied by all accrued interest on the amount prepaid, together with any additional amounts required pursuant to
Section 3.05. Each such prepayment shall be applied to the Revolving Loans of the Revolving Lenders in accordance with their respective Revolving Applicable Percentages. 

(b) The Borrowers may, upon irrevocable notice from the Lead Borrower to the Swing Line Lender (with a copy to the
Administrative Agent), at any time or from time to time, voluntarily prepay Swing Line Loans in whole or in part without premium or penalty; provided that (i) such notice must be received by the Swing Line Lender and the
Administrative Agent not later than 3:00 p.m. on the date of the prepayment, and (ii) any such prepayment shall be in a minimum principal amount of $100,000. Each such notice shall specify the date and amount of such prepayment. If such notice
is given by the Lead Borrower, the Borrowers shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein. 

(c) The Borrowers may, upon irrevocable notice from the Lead Borrower to the Administrative Agent, at any time after
January 1, 2011 or from time to time thereafter voluntarily prepay the Term Loans in whole or in part, without premium or penalty, provided that (i) the Term Prepayment Conditions have been satisfied, (ii) each such
notice of prepayment must be received by the Administrative Agent not later than 11:00 a.m. (A) three Business Days prior to any date of prepayment of LIBO Rate Loans and (B) on the date of prepayment of Base Rate Loans; (iii) any
prepayment of LIBO Rate Loans shall be in a principal amount of $500,000 or a whole multiple of $500,000 in excess thereof; and (iv) any prepayment of Base Rate Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in
excess thereof or, in each case, if less, the entire principal amount thereof then outstanding. Each such notice shall specify the date and amount of such prepayment and the Type(s) of Term Loans to be prepaid and, if LIBO Rate Loans, the Interest
Period(s) of such Term Loans. The Administrative Agent will promptly notify each Term Lender of its receipt of each such notice, and of the amount of such Term Lender’s Term Applicable Percentage of such prepayment. If such notice is given by
the Lead Borrower, the Borrowers shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein. Any prepayment of a LIBO Rate Loan shall be accompanied by all accrued interest on
the amount prepaid, together with any additional amounts required pursuant to Section 3.05. Each such prepayment shall be applied to the Term Loans of the Term Lenders in accordance with their respective Term Applicable Percentages. All
prepayments of the Term Loans shall be applied in inverse order of maturity and shall not 

  
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reduce the amount of or postpone the date for payment of any future installments of the Term Loan under Section 2.05(d) hereof. 

(d) The Borrowers shall repay the principal amount of the Term Loan in an amount equal to $2,500,000 on each of
December 31, 2011 and December 31, 2012. Upon the receipt by the Administrative Agent of each such payment, the Revolving Commitment of each Term Lender receiving such payment, and the Aggregate Revolving Commitments, shall be increased by
a like amount, without the consent or approval of such Lender. Any such increase shall not modify any of the Borrowers’ rights under Section 2.15 hereof. 

(e) If for any reason the Total Outstandings at any time exceed the lesser of (i) the sum of the Aggregate Revolving
Commitments and the Aggregate Term Outstandings, or (ii) the Borrowing Base, each as then in effect, the Borrowers shall immediately prepay Loans, Swing Line Loans and L/C Borrowings and/or Cash Collateralize the L/C Obligations (other than L/C
Borrowings) in an aggregate amount equal to such excess; provided, however, that the Borrowers shall not be required to Cash Collateralize the L/C Obligations pursuant to this Section 2.05(e) unless, after the prepayment in
full of the Loans, the Total Outstandings exceed the lesser of (i) the sum of the Aggregate Revolving Commitments and the Aggregate Term Outstandings, or (ii) the Borrowing Base, each as then in effect. 

(f) The Borrowers shall prepay the Loans and Cash Collateralize the L/C Obligations in accordance with the provisions of
Section 6.13 hereof. In addition, any Net Proceeds received by a Loan Party on account of a Prepayment Event, irrespective of whether or not a Cash Dominion Event then exists and is continuing, shall be paid over to the Administrative
Agent on receipt by the Loan Parties and shall be utilized to prepay the Loans in the order of priority set forth in Section 2.05(g). The Agents shall not be obligated to release their Liens on any Collateral until such Net Proceeds have
been so received (to the extent required in this clause (d)). The application of such Net Proceeds to the Loans shall not reduce the Commitments. If all Obligations then due are paid, any excess Net Proceeds shall be remitted to the operating
account of the Borrowers maintained with the Administrative Agent. 
 (g) Prepayments made pursuant to this
Section 2.05, first, shall be applied ratably to the L/C Borrowings and the Swing Line Loans, second, shall be applied to the outstanding Revolving Loans which are Base Rate Loans, third, shall be applied to the
outstanding Revolving Loans which are LIBO Rate Loans or, at the Lead Borrower’s option so long as no Event of Default then exists and is continuing, shall be used to fund a Cash Collateral Account in an amount sufficient to pay, and with
direction to pay, all such outstanding LIBO Rate Loans on the last day of the applicable Interest Period, fourth, if an Event of Default then exists and is continuing, shall be used to Cash Collateralize the remaining L/C Obligations in
accordance with Section 2.05(f), fifth, if an Event of Default then exists and is continuing, at the Administrative Agent’s election, shall be applied to the outstanding Term Loans which are Base Rate Loans, sixth, if
an Event of Default then exists and is continuing, at the Administrative Agent’s election, shall be applied to the outstanding Term Loans which are LIBO Rate Loans or, at the 

  
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Lead Borrower’s option so long as no Event of Default then exists and is continuing, shall be used to fund a Cash Collateral Account in an amount sufficient to pay, and with direction to
pay, all such outstanding LIBO Rate Loans on the last day of the applicable Interest Period, and seventh, the amount remaining, if any, after the prepayment in full of all L/C Borrowings, Swing Line Loans, Revolving Loans and Term Loans (if
so required by the Administrative Agent) outstanding at such time and the Cash Collateralization of the remaining L/C Obligations in full may be retained by the Borrowers for use in the ordinary course of its business. Upon the drawing of any Letter
of Credit that has been Cash Collateralized, the funds held as Cash Collateral shall be applied (without any further action by or notice to or from the Borrowers or any other Loan Party) to reimburse the L/C Issuer or the Revolving Lenders, as
applicable. 
 2.06 Termination or Reduction of Commitments. 

(a) The Borrowers may, upon irrevocable notice from the Lead Borrower to the Administrative Agent, terminate the Aggregate
Revolving Commitments, the Letter of Credit Sublimit or the Swing Line Sublimit or from time to time permanently reduce the Aggregate Revolving Commitments, the Letter of Credit Sublimit or the Swing Line Sublimit; provided that
(i) any such notice shall be received by the Administrative Agent not later than 11:00 a.m. five Business Days prior to the date of termination or reduction, (ii) any such partial reduction shall be in an aggregate amount of $10,000,000 or
any whole multiple of $1,000,000 in excess thereof, and (iii) the Borrowers shall not terminate or reduce (A) the Aggregate Revolving Commitments if, after giving effect thereto and to any concurrent prepayments hereunder, the Total
Outstandings in respect of Revolving Loans and L/C Obligations would exceed the Aggregate Revolving Commitments, (B) the Letter of Credit Sublimit if, after giving effect thereto, the Outstanding Amount of L/C Obligations not fully Cash
Collateralized hereunder would exceed the Letter of Credit Sublimit, and (C) the Swing Line Sublimit if, after giving effect thereto, and to any concurrent payments hereunder, the Outstanding Amount of Swing Line Loans hereunder would exceed
the Swing Line Sublimit. 
 (b) If, after giving effect to any reduction of the Aggregate Revolving Commitments,
the Letter of Credit Sublimit or the Swing Line Sublimit exceeds the amount of the Aggregate Revolving Commitments, such Letter of Credit Sublimit or Swing Line Sublimit shall be automatically reduced by the amount of such excess. 

(c) The Administrative Agent will promptly notify the Revolving Lenders of any termination or reduction of the Letter of
Credit Sublimit, Swing Line Sublimit or the Aggregate Revolving Commitments under this Section 2.06. Upon any reduction of the Aggregate Revolving Commitments, the Revolving Commitment of each Revolving Lender shall be reduced by such
Revolving Lender’s Revolving Applicable Percentage of such reduction amount. All fees (including, without limitation, Commitment Fees and Letter of Credit Fees) in respect of the Aggregate Revolving Commitments accrued until the effective date
of any termination of the Aggregate Revolving Commitments shall be paid on the effective date of such termination. 

  
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 2.07 Repayment of Loans. 

(a) The Borrowers shall repay to the Lenders on the Termination Date the aggregate principal amount of Revolving Loans and
Term Loans outstanding on such date. 
 (b) To the extent not previously paid, the Borrowers shall repay the
outstanding balance of the Swing Line Loans on the Termination Date. 
 2.08 Interest. 

(a) Subject to the provisions of Section 2.08(b) below, (i) each LIBO Rate Loan shall bear interest on
the outstanding principal amount thereof for each Interest Period at a rate per annum equal to the Adjusted LIBO Rate for such Interest Period plus the Applicable Margin for LIBO Rate Loans which are Revolving Loans or Term Loans, as
applicable; (ii) each Base Rate Loan shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal to the Base Rate plus the Applicable Margin for LIBO Rate Loans which are
Revolving Loans or Term Loans, as applicable; and (iii) each Swing Line Loan shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal to the Base Rate plus the
Applicable Margin for Revolving Loans. 
 (b)(i) If any amount payable under any Loan Document is not paid when
due (without regard to any applicable grace periods), whether at stated maturity, by acceleration or otherwise, such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest
extent permitted by applicable Laws. 
 (ii) If any other Event of Default exists, then the Administrative Agent
may, and upon the request of the Required Lenders shall, notify the Lead Borrower that all outstanding Obligations shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate and thereafter such
Obligations shall bear interest at the Default Rate to the fullest extent permitted by applicable Laws. 
 (iii)
Accrued and unpaid interest on past due amounts (including interest on past due interest) shall be due and payable upon demand. 
 (c) Interest on each Loan shall be due and payable in arrears on each Interest Payment Date applicable thereto and at such other times as may be specified herein. Interest hereunder shall be due and
payable in accordance with the terms hereof before and after judgment, and before and after the commencement of any proceeding under any Debtor Relief Law. 
 2.09 Fees. In addition to certain fees described in subsections (i) and (j) of Section 2.03: 

(a) Commitment Fee. The Borrowers shall pay to the Administrative Agent for the account of each Revolving Lender in
accordance with its Revolving Applicable 

  
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Percentage, a commitment fee (the “Commitment Fee”) equal to the Applicable Rate times the actual daily amount by which the Aggregate Revolving Commitments exceed the sum
of (i) the Outstanding Amount of Revolving Loans and (ii) the Outstanding Amount of L/C Obligations. The Commitment Fee shall accrue at all times during the Availability Period, including at any time during which one or more of the
conditions in Article IV is not met, and shall be due and payable monthly in arrears on the first Business Day of each calendar month, commencing with the first such date to occur after the Effective Date, and on the last day of the
Availability Period. 
 (b) Other Fees. The Borrower shall pay to the Arranger and the Administrative
Agent fees in the amounts and at the times specified in the Fee Letter. Such fees shall be fully earned when paid and shall not be refundable for any reason whatsoever. 
 2.10 Computation of Interest and Fees. All computations of interest for Base Rate Loans when the Base Rate is determined by Bank of America’s “prime rate” shall be made on the basis
of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of fees and interest shall be made on the basis of a 360-day year and actual days elapsed (which results in more fees or interest, as applicable, being
paid than if computed on the basis of a 365-day year). Interest shall accrue on each Loan for the day on which the Loan is made, and shall not accrue on a Loan, or any portion thereof, for the day on which the Loan or such portion is paid,
provided that any Loan that is repaid on the same day on which it is made shall, subject to Section 2.12(a), bear interest for one day, and provided further that, for purposes of calculating interest, all
principal payments made by or on account of the Borrowers shall be deemed to have been applied to the Loans one (a) Business Day after receipt. Each determination by the Administrative Agent of an interest rate or fee hereunder shall be
conclusive and binding for all purposes, absent manifest error. 
 2.11 Evidence of Debt.  

(a) The Credit Extensions made by each Lender shall be evidenced by one or more accounts or records maintained by the
Administrative Agent (the “Loan Account”) in the ordinary course of business. In addition, each Lender may record in such Lender’s internal records, an appropriate notation evidencing the date and amount of each Loan from such
Lender, each payment and prepayment of principal of any such Loan, and each payment of interest, fees and other amounts due in connection with the Obligations due to such Lender. The accounts or records maintained by the Administrative Agent and
each Lender shall be conclusive absent manifest error of the amount of the Credit Extensions made by the Lenders to the Borrowers and the interest and payments thereon. Any failure to so record or any error in doing so shall not, however, limit or
otherwise affect the obligation of the Borrowers hereunder to pay any amount owing with respect to the Obligations. In the event of any conflict between the accounts and records maintained by any Lender and the accounts and records of the
Administrative Agent in respect of such matters, the accounts and records of the Administrative Agent shall control in the absence of manifest error. Upon the request of any Lender made through the Administrative Agent, the Borrowers shall execute
and deliver to such Lender (through the Administrative Agent) a Note, which shall evidence such Lender’s Loans in addition to 

  
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such accounts or records. Each Lender may attach schedules to its Notes and endorse thereon the date, Type (if applicable), amount and maturity of its Loans and payments with respect thereto.
Upon receipt of an affidavit of a Lender as to the loss, theft, destruction or mutilation of any such Lender’s Notes and upon cancellation of such Notes, the Borrowers will issue, in lieu thereof, a replacement Note or Notes in favor of such
Lender, in the same principal amount thereof and otherwise of like tenor. 
 (b) In addition to the accounts and
records referred to in Section 2.11(a), each Revolving Lender and the Administrative Agent shall maintain in accordance with its usual practice accounts or records evidencing the purchases and sales by such Revolving Lender of
participations in Letters of Credit and Swing Line Loans. In the event of any conflict between the accounts and records maintained by the Administrative Agent and the accounts and records of any Revolving Lender in respect of such matters, the
accounts and records of the Administrative Agent shall control in the absence of manifest error. 
 2.12 Payments Generally;
Administrative Agent’s Clawback. 
 (a) General. All payments to be made by the Borrowers shall
be made without condition or deduction for any counterclaim, defense, recoupment or setoff. Except as otherwise expressly provided herein, all payments by the Borrowers hereunder shall be made to the Administrative Agent, for the account of the
respective Lenders to which such payment is owed, at the Administrative Agent’s Office in Dollars and in immediately available funds not later than 3:00 p.m. on the date specified herein. The Administrative Agent will promptly distribute to
each Lender its Applicable Percentage (or other applicable share as provided herein) of such payment in like funds as received by wire transfer to such Lender’s Lending Office in accordance with the provisions of Section 2.14. All
payments received by the Administrative Agent after 3:00 p.m. shall be deemed received on the next succeeding Business Day and any applicable interest or fee shall continue to accrue. If any payment to be made by the Borrowers shall come due on a
day other than a Business Day, payment shall be made on the next following Business Day, and such extension of time shall be reflected in computing interest or fees, as the case may be. 

(b) (i) Funding by Lenders; Presumption by Administrative Agent. Unless the Administrative Agent shall have
received notice from a Revolving Lender prior to the proposed date of any Borrowing of LIBO Rate Loans (or in the case of any Borrowing of Base Rate Loans, prior to 12:00 noon on the date of such Borrowing) that such Lender will not make available
to the Administrative Agent such Revolving Lender’s share of such Revolving Borrowing, the Administrative Agent may assume that such Revolving Lender has made such share available on such date in accordance with Section 2.02 (or, in
the case of a Borrowing of Base Rate Loans, that such Revolving Lender has made such share available in accordance with, and at the time required by, Section 2.02) and may, in reliance upon such assumption, make available to the
Borrowers a corresponding amount. In such event, if a Revolving Lender has not in fact made its share of the applicable Revolving Borrowing available to the Administrative Agent, then the applicable Revolving Lender and the Borrowers severally agree
to pay to 

  
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the Administrative Agent forthwith on demand such corresponding amount in immediately available funds with interest thereon, for each day from and including the date such amount is made available
to the Borrowers to but excluding the date of payment to the Administrative Agent, at (A) in the case of a payment to be made by such Revolving Lender, the greater of the Federal Funds Rate and a rate determined by the Administrative Agent in
accordance with banking industry rules on interbank compensation, plus any administrative processing or similar fees customarily charged by the Administrative Agent in connection with the foregoing, and (B) in the case of a payment to be made
by the Borrowers, the interest rate applicable to Base Rate Loans. If the Borrowers and such Revolving Lender shall pay such interest to the Administrative Agent for the same or an overlapping period, the Administrative Agent shall promptly remit to
the Borrowers the amount of such interest paid by the Borrowers for such period. If such Revolving Lender pays its share of the applicable Revolving Borrowing to the Administrative Agent, then the amount so paid shall constitute such Revolving
Lender’s Revolving Loan included in such Revolving Borrowing. Any payment by the Borrowers shall be without prejudice to any claim the Borrowers may have against a Revolving Lender that shall have failed to make such payment to the
Administrative Agent. 
 (ii) Payments by Borrowers; Presumptions by Administrative Agent. Unless the
Administrative Agent shall have received notice from the Lead Borrower prior to the time at which any payment is due to the Administrative Agent for the account of the Lenders or the L/C Issuer hereunder that the Borrowers will not make such
payment, the Administrative Agent may assume that the Borrowers have made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Lenders or the L/C Issuer, as the case may be, the amount due. In
such event, if the Borrowers have not in fact made such payment, then each of the Lenders or the L/C Issuer, as the case may be, severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such Lender or
the L/C Issuer, in immediately available funds with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the greater of the Federal Funds
Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation. 
 A
notice of the Administrative Agent to any Lender or the Lead Borrower with respect to any amount owing under this Section 2.12(b) shall be conclusive, absent manifest error. 

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

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

(e) Funding Source. Nothing herein shall be deemed to obligate any Lender to obtain the funds for any Loan in any
particular place or manner or to constitute a representation by any Lender that it has obtained or will obtain the funds for any Loan in any particular place or manner. 
 2.13 Sharing of Payments by Lenders If any Credit Party shall, by exercising any right of setoff or counterclaim or otherwise, obtain payment in respect of any principal of, interest on, or other
amounts with respect to, any of the Obligations resulting in such Lender’s receiving payment of a proportion of the aggregate amount of such Obligations greater than its pro rata share thereof as provided herein (including as in
contravention of the priorities of payment set forth in Section 8.03), then the Credit Party receiving such greater proportion shall (a) notify the Administrative Agent of such fact, and (b) purchase (for cash at face value)
participations in the Obligations of the other Credit Parties, or make such other adjustments as shall be equitable, so that the benefit of all such payments shall be shared by the Credit Parties ratably and in the priorities set forth in
Section 8.03, provided that: 
 (a) if any such participations or subparticipations are
purchased and all or any portion of the payment giving rise thereto is recovered, such participations or subparticipations shall be rescinded and the purchase price restored to the extent of such recovery, without interest; and 

(b) the provisions of this Section 2.13 shall not be construed to apply to (x) any payment made by the
Loan Parties pursuant to and in accordance with the express terms of this Agreement or (y) any payment obtained by a Lender as consideration for the assignment of or sale of a participation in any of its Revolving Loans or Term Loans or
subparticipations in L/C Obligations or Swing Line Loans to any assignee or participant, other than to the Borrowers or any Subsidiary thereof (as to which, the provisions of this Section 2.13 shall apply). 

Each Loan Party consents to the foregoing and agrees, to the extent it may effectively do so under applicable Law, that any Lender
acquiring a participation pursuant to the foregoing arrangements may exercise against such Loan Party rights of setoff and counterclaim with respect to such participation as fully as if such Lender were a direct creditor of such Loan Party in the
amount of such participation. 
 2.14 Settlement Amongst Lenders. 

  
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 (a) The amount of each Lender’s Applicable Percentage of outstanding
Loans (including outstanding Swing Line Loans) shall be computed weekly (or more frequently in the Administrative Agent’s discretion) and shall be adjusted upward or downward based on all Loans (including Swing Line Loans) and repayments of
Loans (including Swing Line Loans) received by the Administrative Agent as of 3:00 p.m. on the first Business Day (such date, the “Settlement Date”) following the end of the period specified by the Administrative Agent. 

(b) The Administrative Agent shall deliver to each of the Lenders promptly after a Settlement Date a summary statement of
the amount of outstanding Revolving Loans and Term Loans for the period and the amount of repayments received for the period. As reflected on the summary statement, (i) the Administrative Agent shall transfer to each Lender its Revolving
Applicable Percentage or Term Applicable Percentage, as applicable, of repayments, and (ii) each Revolving Lender shall transfer to the Administrative Agent (as provided below) or the Administrative Agent shall transfer to each Revolving
Lender, such amounts as are necessary to insure that, after giving effect to all such transfers, the amount of Revolving Loans made by each Revolving Lender shall be equal to such Revolving Lender’s Revolving Applicable Percentage of all
Revolving Loans outstanding as of such Settlement Date. If the summary statement requires transfers to be made to the Administrative Agent by the Revolving Lenders and is received prior to 1:00 p.m. on a Business Day, such transfers shall be made in
immediately available funds no later than 3:00 p.m. that day; and, if received after 1:00 p.m., then no later than 3:00 p.m. on the next Business Day. The obligation of each Revolving Lender to transfer such funds is irrevocable, unconditional and
without recourse to or warranty by the Administrative Agent. If and to the extent any Revolving Lender shall not have so made its transfer to the Administrative Agent, such Revolving Lender agrees to pay to the Administrative Agent, forthwith on
demand such amount, together with interest thereon, for each day from such date until the date such amount is paid to the Administrative Agent, equal to the greater of the Federal Funds Rate and a rate determined by the Administrative Agent in
accordance with banking industry rules on interbank compensation plus any administrative, processing, or similar fees customarily charged by the Administrative Agent in connection with the foregoing. 

2.15 Increase in Aggregate Revolving Commitments.  

(a) Request for Increase. Provided no Default or Event of Default then exists or would arise therefrom, upon notice
to the Administrative Agent, the Lead Borrower may from time to time request an increase in the Aggregate Revolving Commitments by an amount (for all such requests) not exceeding $50,000,000 (each such increase, a “Commitment
Increase”); provided that (i) any such request for a Commitment Increase shall be in a minimum amount of $10,000,000, and (ii) the Lead Borrower may make a maximum of three (3) such requests. 

(b) Additional Commitment Lenders. To achieve the full amount of a requested Commitment Increase and subject to the
approval of the Administrative Agent, the L/C Issuer and the Swing Line Lender (which approvals shall not be unreasonably withheld), the Administrative Agent, in consultation with the Lead Borrower, will use its

  
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reasonable efforts to arrange for existing Lenders or other Persons who are not then Lenders (who will become a Revolving Lender hereunder) to issue commitments in an amount equal to the amount
of the increase in the Aggregate Revolving Commitments requested by the Lead Borrower (each such Person issuing, or Lender increasing, its Revolving Commitment, an “Additional Commitment Lender”); provided, however,
that (i) no Lender shall be obligated to provide a Commitment Increase as a result of any such request by the Lead Borrower, and (ii) without the consent of the Administrative Agent, at no time shall the Revolving Commitment of any
Additional Commitment Lender be less than $25,000,000. 
 (c) Effective Date and Allocations. If the
Aggregate Revolving Commitments are increased in accordance with this Section 2.15, the Administrative Agent and the Lead Borrower shall determine the effective date (the “Increase Effective Date”) and the final
allocation of such Commitment Increase. The Administrative Agent shall promptly notify the Lead Borrower and the Lenders of the final allocation of such Commitment Increase and the Increase Effective Date and, on the Increase Effective Date,
(i) the Aggregate Revolving Commitments under, and for all purposes of, this Agreement shall be increased by the aggregate amount of such Commitment Increase, and (ii) Schedule 2.01 shall be deemed modified, without further action,
to reflect the revised Revolving Commitments and Revolving Applicable Percentages of the Revolving Lenders. 

(d) Conditions to Effectiveness of Commitment Increase. As a condition precedent to each Commitment Increase:
(i) the Lead Borrower shall deliver to the Administrative Agent a certificate of each Loan Party dated as of the Increase Effective Date (in sufficient copies for each Lender) signed by a Responsible Officer of such Loan Party
(A) certifying and attaching the resolutions adopted by such Loan Party approving or consenting to such Commitment Increase, and (B) in the case of the Borrowers, certifying that, before and after giving effect to such Commitment Increase,
(1) the representations and warranties contained in Article V and the other Loan Documents are true and correct on and as of the Increase Effective Date, except to the extent that such representations and warranties specifically refer to
an earlier date, in which case they are true and correct as of such earlier date, and except that for purposes of this Section 2.15, the representations and warranties contained in subsections (a) and (b) of
Section 5.05 shall be deemed to refer to the most recent statements furnished pursuant to clauses (a) and (b), respectively, of Section 6.01; (ii) the Borrowers, the Administrative Agent, and any Additional
Commitment Lender shall have executed and delivered a joinder to the Loan Documents in such form as the Administrative Agent shall reasonably require; (iii) the Borrowers shall have paid such fees and other compensation to the Additional
Commitment Lenders as the Lead Borrower and such Additional Commitment Lenders shall agree; (iv) the Borrowers shall have paid such arrangement fees to the Administrative Agent as the Lead Borrower and the Administrative Agent may agree;
(v) the Borrowers shall deliver to the Administrative Agent and the Lenders an opinion or opinions, in form and substance reasonably satisfactory to the Administrative Agent, from counsel to the Borrowers reasonably satisfactory to the
Administrative Agent and dated such date; (vi) the Borrowers and the Additional Commitment Lender shall have delivered such other instruments, documents and agreements as the Administrative Agent may reasonably have requested; and (vii) no
Default or Event of Default exists. The 

  
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 Borrowers shall prepay any Revolving Loans outstanding on the Increase Effective Date (and
pay any additional amounts required pursuant to Section 3.05) to the extent necessary to keep the outstanding Revolving Loans ratable with any revised Revolving Applicable Percentages arising from any nonratable increase in the Revolving
Commitments under this Section 2.15. 
 (e) Conflicting Provisions. This
Section 2.15 shall supersede any provisions in Sections 2.13 or 10.01 to the contrary. Further the rights under this Section 2.15 shall be supplemental of any increase of the Aggregate Revolving Commitments
pursuant to Section 2.05(d) hereof. 
 ARTICLE III. 

TAXES, YIELD PROTECTION AND ILLEGALITY; 
 APPOINTMENT OF LEAD BORROWER 
 3.01 Taxes. 

(a) Payments Free of Taxes. Any and all payments by or on account of any obligation of the Borrowers hereunder or
under any other Loan Document shall be made free and clear of, and without reduction or withholding for, any Indemnified Taxes or Other Taxes, provided that, if the Borrowers shall be required by applicable law to deduct any
Indemnified Taxes (including any Other Taxes) from such payments, then (i) the sum payable shall be increased as necessary so that, after making all required deductions (including deductions applicable to additional sums payable under this
Section 3.01), the Administrative Agent, Lender or L/C Issuer, as the case may be, receives an amount equal to the sum it would have received had no such deductions been made, (ii) the Borrowers shall make such deductions and
(iii) the Borrowers shall timely pay the full amount deducted to the relevant Governmental Authority in accordance with applicable law. 
 (b) Payment of Other Taxes by the Borrowers. Without limiting the provisions of subsection (a) above, the Borrowers shall timely pay any Other Taxes to the relevant Governmental Authority in
accordance with applicable Law. 
 (c) Indemnification by the Loan Parties. The Loan Parties shall
indemnify the Administrative Agent, each Lender and the L/C Issuer, within 10 days after demand therefor, for the full amount of any Indemnified Taxes or Other Taxes (including Indemnified Taxes or Other Taxes imposed or asserted on or attributable
to amounts payable under this Section 3.01) paid by the Administrative Agent, such Lender or the L/C Issuer, as the case may be, and any penalties, interest and reasonable expenses arising therefrom or with respect thereto, whether or
not such Indemnified Taxes or Other Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to the Lead Borrower by a Lender or the L/C Issuer
(with a copy to the Administrative Agent), or by the Administrative Agent on its own behalf or on behalf of a Lender or the L/C Issuer, shall be conclusive absent manifest error. 

  
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 (d) Evidence of Payments. As soon as practicable after any payment of
Indemnified Taxes or Other Taxes by the Borrowers to a Governmental Authority, the Lead Borrower shall deliver to the Administrative Agent the original or a certified copy of a receipt issued by such Governmental Authority evidencing such payment, a
copy of the return reporting such payment or other evidence of such payment reasonably satisfactory to the Administrative Agent. 
 (e) Status of Lenders. Any Foreign Lender that is entitled to an exemption from, or reduction of, withholding tax under the law of the jurisdiction in which any Borrower is resident for tax
purposes, or any treaty to which such jurisdiction is a party, with respect to payments hereunder or under any other Loan Document shall deliver to the Lead Borrower (with a copy to the Administrative Agent), at the time or times prescribed by
applicable Law or reasonably requested by the Lead Borrower or the Administrative Agent, such properly completed and executed documentation prescribed by applicable Law as will permit such payments to be made without withholding or at a reduced rate
of withholding. In addition, any Lender, if requested by the Lead Borrower or the Administrative Agent, shall deliver such other documentation prescribed by applicable Law or reasonably requested by the Lead Borrower or the Administrative Agent as
will enable the Lead Borrower or the Administrative Agent to determine whether or not such Lender is subject to backup withholding or information reporting requirements. 
 Without limiting the generality of the foregoing, in the event that any Borrower is resident for tax purposes in the United States, any Foreign Lender shall deliver to the Lead Borrower and the
Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter upon the request of the Lead Borrower
or the Administrative Agent, but only if such Foreign Lender is legally entitled to do so), whichever of the following is applicable: 
 (i) duly completed copies of Internal Revenue Service Form W-8BEN claiming eligibility for benefits of an income tax treaty to which the United States is a party; 

(ii) duly completed copies of Internal Revenue Service Form W-8ECI; 

(iii) in the case of a Foreign Lender claiming the benefits of the exemption for portfolio interest under section 881(c)
of the Code, (x) a certificate to the effect that such Foreign Lender is not (A) a “bank” within the meaning of section 881(c)(3)(A) of the Code, (B) a “10 percent shareholder” of the Borrowers within the meaning
of section 881(c)(3)(B) of the Code, or (C) a “controlled foreign corporation” described in section 881(c)(3)(C) of the Code and (y) duly completed copies of Internal Revenue Service Form W-8BEN; or 

(iv) any other form prescribed by applicable law as a basis for claiming exemption from or a reduction in United States
Federal withholding tax duly completed together with such supplementary documentation as may be prescribed by applicable law 

  
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to permit the Lead Borrower to determine the withholding or deduction required to be made. 
 (f) Treatment of Certain Refunds. If the Administrative Agent, any Lender or the L/C Issuer determines, in its sole discretion, that it has received a refund of any Taxes or Other Taxes as to which
it has been indemnified by the Borrowers or with respect to which the Borrowers have paid additional amounts pursuant to this Section 3.01, it shall pay to the Borrowers an amount equal to such refund (but only to the extent of indemnity
payments made, or additional amounts paid, by the Borrowers under this Section 3.01 with respect to the Taxes or Other Taxes giving rise to such refund), net of all out-of-pocket expenses of the Administrative Agent, such Lender or the
L/C Issuer, as the case may be, and without interest (other than any interest paid by the relevant Governmental Authority with respect to such refund), provided that the Borrowers, upon the request of the Administrative Agent, such
Lender or the L/C Issuer, agree to repay the amount paid over to the Borrowers (plus any penalties, interest or other charges imposed by the relevant Governmental Authority) to the Administrative Agent, such Lender or the L/C Issuer in the event the
Administrative Agent, such Lender or the L/C Issuer is required to repay such refund to such Governmental Authority. This subsection shall not be construed to require the Administrative Agent, any Lender or the L/C Issuer to make available its tax
returns (or any other information relating to its taxes that it deems confidential) to the Borrowers or any other Person. 

3.02 Illegality. If any Lender determines that any Law has made it unlawful, or that any Governmental Authority has
asserted that it is unlawful, for any Lender or its applicable Lending Office to make, maintain or fund LIBO Rate Loans, or to determine or charge interest rates based upon the LIBO Rate, or any Governmental Authority has imposed material
restrictions on the authority of such Lender to purchase or sell, or to take deposits of, Dollars in the London interbank market, then, on notice thereof by such Lender to the Lead Borrower through the Administrative Agent, any obligation of such
Lender to make or continue LIBO Rate Loans or to convert Base Rate Loans to LIBO Rate Loans shall be suspended until such Lender notifies the Administrative Agent and the Lead Borrower that the circumstances giving rise to such determination no
longer exist. Upon receipt of such notice, the Borrowers shall, upon demand from such Lender (with a copy to the Administrative Agent), prepay or, if applicable, convert all LIBO Rate Loans of such Lender to Base Rate Loans, either on the last day
of the Interest Period therefor, if such Lender may lawfully continue to maintain such LIBO Rate Loans to such day, or immediately, if such Lender may not lawfully continue to maintain such LIBO Rate Loans. Upon any such prepayment or conversion,
the Borrowers shall also pay accrued interest on the amount so prepaid or converted. 
 3.03 Inability to Determine
Rates. If the Required Lenders determine that, for any reason in connection with any request for a LIBO Rate Loan or a conversion to or continuation thereof, that (a) Dollar deposits are not being offered to banks in the London interbank
market for the applicable amount and Interest Period of such LIBO Rate Loan, (b) adequate and reasonable means do not exist for determining the LIBO Rate for any requested Interest Period with respect to a proposed LIBO Rate Loan, or
(c) the LIBO Rate for any requested Interest Period with respect to a proposed LIBO Rate Loan does not adequately and fairly reflect the cost to such Lenders of funding such Loan, the Administrative Agent will promptly so notify the 

  
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Lead Borrower and each Lender. Thereafter, the obligation of the Lenders to make or maintain LIBO Rate Loans shall be suspended until the Administrative Agent (upon the instruction of the
Required Lenders) revokes such notice. Upon receipt of such notice, the Lead Borrower may revoke any pending request for a Borrowing of, conversion to or continuation of LIBO Rate Loans or, failing that, will be deemed to have converted such request
into a request for a Revolving Borrowing of Base Rate Loans (or a request to convert any such LIBO Rate Loans to Base Rate Loans, in the case of LIBO Rate Loans that are Term Loans) in the amount specified therein. 

3.04 Increased Costs; Reserves on LIBO Rate Loans.  

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

(i) impose, modify or deem applicable any reserve, special deposit, compulsory loan, insurance charge or similar
requirement against assets of, deposits with or for the account of, or credit extended or participated in by, any Lender (except any reserve requirement reflected in the LIBO Rate) or the L/C Issuer; 

(ii) subject any Lender or the L/C Issuer to any tax of any kind whatsoever with respect to this Agreement, any Letter of
Credit, any participation in a Letter of Credit or any LIBO Rate Loan made by it, or change the basis of taxation of payments to such Lender or the L/C Issuer in respect thereof (except for Indemnified Taxes or Other Taxes covered by
Section 3.01 and the imposition of, or any change in the rate of, any Excluded Tax payable by such Lender or the L/C Issuer); or 
 (iii) impose on any Lender or the L/C Issuer or the London interbank market any other condition, cost or expense affecting this Agreement or LIBO Rate Loans made by such Lender or any Letter of Credit or
participation therein; 
 and the result of any of the foregoing shall be to increase the cost to such Lender of making or maintaining any LIBO
Rate Loan (or of maintaining its obligation to make any such Loan), or to increase the cost to such Lender or the L/C Issuer of participating in, issuing or maintaining any Letter of Credit (or of maintaining its obligation to participate in or to
issue any Letter of Credit), or to reduce the amount of any sum received or receivable by such Lender or the L/C Issuer hereunder (whether of principal, interest or any other amount) then, upon request of such Lender or the L/C Issuer, the Borrowers
will pay to such Lender or the L/C Issuer, as the case may be, such additional amount or amounts as will compensate such Lender or the L/C Issuer, as the case may be, for such additional costs incurred or reduction suffered. 

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

  
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or the Loans made by, or participations in Letters of Credit held by, such Lender, or the Letters of Credit issued by the L/C Issuer, to a level below that which such Lender or the L/C Issuer or
such Lender’s or the L/C Issuer’s holding company could have achieved but for such Change in Law (taking into consideration such Lender’s or the L/C Issuer’s policies and the policies of such Lender’s or the L/C
Issuer’s holding company with respect to capital adequacy), then from time to time the Borrowers will pay to such Lender or the L/C Issuer, as the case may be, such additional amount or amounts as will compensate such Lender or the L/C Issuer
or such Lender’s or the L/C Issuer’s holding company for any such reduction suffered. 
 (c)
Certificates for Reimbursement. A certificate of a Lender or the L/C Issuer setting forth the amount or amounts necessary to compensate such Lender or the L/C Issuer or its holding company, as the case may be, as specified in subsection
(a) or (b) of this Section and delivered to the Lead Borrower shall be conclusive absent manifest error. The Borrowers shall pay such Lender or the L/C Issuer, as the case may be, the amount shown as due on any such certificate within 10
days after receipt thereof. 
 (d) Delay in Requests. Failure or delay on the part of any Lender or the
L/C Issuer to demand compensation pursuant to the foregoing provisions of this Section 3.04 shall not constitute a waiver of such Lender’s or the L/C Issuer’s right to demand such compensation, provided that the
Borrowers shall not be required to compensate a Lender or the L/C Issuer pursuant to the foregoing provisions of this Section 3.04 for any increased costs incurred or reductions suffered more than nine months prior to the date that such
Lender or the L/C Issuer, as the case may be, notifies the Lead Borrower of the Change in Law giving rise to such increased costs or reductions and of such Lender’s or the L/C Issuer’s intention to claim compensation therefor (except that,
if the Change in Law giving rise to such increased costs or reductions is retroactive, then the nine-month period referred to above shall be extended to include the period of retroactive effect thereof). 

(e) Reserves on LIBO Rate Loans. The Borrowers shall pay to each Lender, as long as such Lender shall be required
to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits (currently known as “Eurocurrency liabilities”), additional interest on the unpaid principal amount of each LIBO Rate Loan
equal to the actual costs of such reserves allocated to such Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive), which shall be due and payable on each date on which interest is payable on such
Loan, provided the Lead Borrower shall have received at least 10 days’ prior notice (with a copy to the Administrative Agent) of such additional interest from such Lender. If a Lender fails to give notice 10 days prior to the relevant
Interest Payment Date, such additional interest shall be due and payable 10 days from receipt of such notice. 
 3.05
Compensation for Losses. Upon demand of any Lender (with a copy to the Administrative Agent) from time to time, the Borrowers shall promptly compensate such Lender for and hold such Lender harmless from any loss, cost or expense
incurred by it as a result of: 

  
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 (a) any continuation, conversion, payment or prepayment of any LIBO Rate
Loan on a day other than the last day of the Interest Period for such Loan (whether voluntary, mandatory, automatic, by reason of acceleration, or otherwise); 
 (b) any failure by the Borrowers (for a reason other than the failure of such Lender to make a Loan) to prepay, borrow, continue or convert any LIBO Rate Loan on the date or in the amount notified by the
Lead Borrower; or 
 (c) any assignment of a LIBO Rate Loan on a day other than the last day of the Interest
Period therefor as a result of a request by the Lead Borrower pursuant to Section 10.13; 
 including any loss of anticipated
profits and any loss or expense arising from the liquidation or reemployment of funds obtained by it to maintain such Loan or from fees payable to terminate the deposits from which such funds were obtained. The Borrowers shall also pay any customary
administrative fees charged by such Lender in connection with the foregoing. 
 For purposes of calculating amounts payable by
the Borrowers to the Lenders under this Section 3.05, each Lender shall be deemed to have funded each LIBO Rate Loan made by it at the LIBO Rate for such Loan by a matching deposit or other borrowing in the London interbank market for a
comparable amount and for a comparable period, whether or not such LIBO Rate Loan was in fact so funded. 
 3.06 Mitigation
Obligations; Replacement of Lenders.  
 (a) Designation of a Different Lending Office. If any
Lender requests compensation under Section 3.04, or the Borrowers are required to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 3.01, or if any Lender
gives a notice pursuant to Section 3.02, then such Lender shall use reasonable efforts to designate a different Lending Office for funding or booking its Loans hereunder or to assign its rights and obligations hereunder to another of its
offices, branches or affiliates, if, in the judgment of such Lender, such designation or assignment (i) would eliminate or reduce amounts payable pursuant to Section 3.01 or Section 3.04, as the case may be, in the
future, or eliminate the need for the notice pursuant to Section 3.02, as applicable, and (ii) in each case, would not subject such Lender to any unreimbursed cost or expense and would not otherwise be disadvantageous to such
Lender. The Borrowers hereby agree to pay all reasonable costs and expenses incurred by any Lender in connection with any such designation or assignment. 
 (b) Replacement of Lenders. If any Lender requests compensation under Section 3.04, or if the Borrowers are required to pay any additional amount to any Lender or any Governmental
Authority for the account of any Lender pursuant to Section 3.01, the Borrowers may replace such Lender in accordance with Section 10.13. 
 3.07 Survival. All of the Borrowers’ obligations under this Article III shall survive termination of the Aggregate Revolving Commitments and repayment of all other Obligations
hereunder. 

  
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 3.08 Designation of Lead Borrower as Borrowers’ Agent. 

(a) Each Borrower hereby irrevocably designates and appoints the Lead Borrower as such Borrower’s agent to obtain
Credit Extensions, the proceeds of which shall be available to each Borrower for such uses as are permitted under this Agreement. As the disclosed principal for its agent, each Borrower shall be obligated to each Credit Party on account of Credit
Extensions so made as if made directly by the applicable Credit Party to such Borrower, notwithstanding the manner by which such Credit Extensions are recorded on the books and records of the Lead Borrower and of any other Borrower. In addition,
each Loan Party other than the Borrowers hereby irrevocably designates and appoints the Lead Borrower as such Loan Party’s agent to represent such Loan Party in all respects under this Agreement and the other Loan Documents. 

(b) Each Borrower recognizes that credit available to it hereunder is in excess of and on better terms than it otherwise
could obtain on and for its own account and that one of the reasons therefor is its joining in the credit facility contemplated herein with all other Borrowers. Consequently, each Borrower hereby assumes and agrees to discharge all Obligations of
each of the other Borrowers. 
 (c) The Lead Borrower shall act as a conduit for each Borrower (including itself,
as a “Borrower”) on whose behalf the Lead Borrower has requested a Credit Extension. Neither the Administrative Agent nor any other Credit Party shall have any obligation to see to the application of such proceeds therefrom. 

ARTICLE IV. 

CONDITIONS PRECEDENT TO CREDIT EXTENSIONS 
 4.01 Conditions of Initial Credit Extension. The obligation of the L/C Issuer and each Lender to make its initial Credit Extension hereunder is subject to satisfaction of the following
conditions precedent: 
 (a) The Administrative Agent’s receipt of the following, each of which shall be
originals or telecopies (followed promptly by originals) unless otherwise specified, each properly executed by a Responsible Officer of the signing Loan Party, each dated the Effective Date (or, in the case of certificates of governmental officials,
a recent date before the Effective Date) and each in form and substance satisfactory to the Administrative Agent: 
 (i) executed counterparts of this Agreement sufficient in number for distribution to the Administrative Agent, each Lender and the Lead Borrower; 

(ii) a Note executed by the Borrowers in favor of each Lender requesting a Note; 

(iii) such certificates of resolutions or other action, incumbency certificates and/or other certificates of Responsible
Officers of each Loan Party as the Administrative Agent may require evidencing (A) the authority of each Loan Party to enter into this Agreement and the other Loan Documents to which such

  
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Loan Party is a party or is to be a party and (B) the identity, authority and capacity of each Responsible Officer thereof authorized to act as a Responsible Officer in connection with this
Agreement and the other Loan Documents to which such Loan Party is a party or is to be a party; 
 (iv) copies of
each Loan Party’s Organization Documents and such other documents and certifications as the Administrative Agent may reasonably require to evidence that each Loan Party is duly organized or formed, and that each Loan Party is validly existing,
in good standing and qualified to engage in business in each jurisdiction where its ownership, lease or operation of properties or the conduct of its business requires such qualification, except to the extent that failure to do so could not
reasonably be expected to have a Material Adverse Effect; 
 (v) a favorable opinion of Bryan Cave LLP, counsel
to the Loan Parties, addressed to the Administrative Agent and each Lender, as to such matters concerning the Loan Parties and the Loan Documents as the Administrative Agent may reasonably request; 

(vi) a certificate signed by a Responsible Officer of the Lead Borrower certifying (A) that the conditions specified
in Sections 4.02(a) and 4.02(b) have been satisfied, (B) that there has been no event or circumstance since the date of the Audited Financial Statements that has had or could be reasonably expected to have, either individually or
in the aggregate, a Material Adverse Effect and (C) either that (1) no consents, licenses or approvals are required in connection with the execution, delivery and performance by such Loan Party and the validity against such Loan Party of
the Loan Documents to which it is a party, or (2) that all such consents, licenses and approvals have been obtained and are in full force and effect; 
 (vii) a Borrowing Base Certificate dated the Effective Date, relating to the month ended on November 27, 2010, and executed by a Responsible Officer of the Lead Borrower; 

(viii) evidence that all insurance required to be maintained pursuant to the Loan Documents and all endorsements in favor
of the Agents required under the Loan Documents have been obtained and are in effect; 
 (ix) a certificate from
the chief financial officer of the Lead Borrower, satisfactory in form and substance to the Administrative Agent, attesting to the Solvency of the Loan Parties as of the Effective Date after giving effect to the transactions contemplated hereby;

 (x) the Security Documents and certificates evidencing any stock being pledged thereunder, together with
undated stock powers executed in blank, each duly executed by the applicable Loan Parties; 

  
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 (xi) all other Loan Documents, each duly executed by the applicable Loan
Parties; 
 (xii)(A) appraisals (based on net liquidation value) by a third party appraiser acceptable to the
Collateral Agent of all Inventory of the Borrowers, the results of which are satisfactory to the Collateral Agent and (B) a written report regarding the results of a commercial finance examination of the Loan Parties, which shall be
satisfactory to the Collateral Agent; 
 (xiii) results of searches or other evidence reasonably satisfactory to
the Collateral Agent (in each case dated as of a date reasonably satisfactory to the Collateral Agent) indicating the absence of Liens on the assets of the Loan Parties, except for Permitted Encumbrances and Liens for which termination statements
and releases, satisfactions and discharges of any mortgages, and releases or subordination agreements satisfactory to the Collateral Agent are being tendered concurrently with such extension of credit or other arrangements satisfactory to the
Collateral Agent for the delivery of such termination statements and releases, satisfactions and discharges have been made; 
 (xiv)(A) all documents and instruments, including Uniform Commercial Code financing statements, required by law or reasonably requested by the Collateral Agent to be filed, registered or recorded to
create or perfect the first priority Liens intended to be created under the Loan Documents and all such documents and instruments shall have been so filed, registered or recorded to the satisfaction of the Collateral Agent and (B) the Credit
Card Notifications and Blocked Account Agreements required pursuant to Section 6.13 hereof; and 

(xv) such other assurances, certificates, documents, consents or opinions as the Agents reasonably may require.

 (b) After giving effect to (i) the funding of the Term Loan and the initial Revolving Loans on the
Effective Date, (ii) any charges to the Loan Account made in connection with the establishment of the credit facility contemplated hereby and (iii) all Letters of Credit to be issued at, or immediately subsequent to, such establishment
(including Existing Letters of Credit), Availability shall be not less than $50,000,000. 
 (c) The
Administrative Agent shall be reasonably satisfied that any financial statements delivered to it fairly present the business and financial condition of the Loan Parties and that there has been no Material Adverse Effect since January 31, 2010.

 (d) There shall not be any other Material Indebtedness of the Loan Parties outstanding immediately after the
Effective Date other than the Obligations and the Indebtedness set forth on Schedule 5.05(b). 
 (e) The
Administrative Agent shall have received and be satisfied with (i) a detailed forecast for the period commencing on the Effective Date and ending on January 28, 2012, which shall include an Availability model, Consolidated income
statement, balance sheet, and statement of cash flow, by month, each prepared in conformity with 

  
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GAAP and consistent with the Loan Parties’ then current practices and (b) such other information (financial or otherwise) reasonably requested by the Administrative Agent. 

(f) All necessary consents and approvals to the transactions contemplated hereby shall have been obtained and shall be
reasonably satisfactory to the Administrative Agent, other than those which, individually or in the aggregate, would not have, and would not reasonably be expected to have, a Material Adverse Effect. 

(g) There shall not be pending any litigation or other proceeding, the result of which, either individually or in the
aggregate, could reasonably be expected to have a Material Adverse Effect. 
 (h) After giving effect to the
consummation of the transactions contemplated under this Agreement and the other Loan Documents on the Effective Date (including any Loans made or Letters of Credit issued hereunder), no Default or Event of Default shall exist. 

(i) There shall not have occurred any default of any Material Contract of any Loan Party. 

(j) The consummation of the transactions contemplated hereby shall not violate any applicable Law or any Organization
Document. 
 (k) The Lead Borrower shall have a capital structure reasonably acceptable to the Administrative
Agent. 
 (l) All fees required to be paid to the Agents or the Arranger on or before the Effective Date shall
have been paid in full, and all fees required to be paid to the Lenders on or before the Effective Date shall have been paid in full. 
 (m) The Borrowers shall have paid all fees, charges and disbursements of counsel to the Administrative Agent to the extent invoiced prior to or on the Effective Date, plus such additional amounts of such
fees, charges and disbursements as shall constitute its reasonable estimate of such fees, charges and disbursements incurred or to be incurred by it through the closing proceedings (provided that such estimate shall not thereafter preclude a final
settling of accounts between the Borrowers and the Administrative Agent). 
 (n) No material changes in
governmental regulations or policies affecting any Loan Party or any Credit Party shall have occurred prior to the Effective Date. 
 (o) There shall not have occurred any disruption or material adverse change in the United States financial or capital markets in general that has had, in the reasonable opinion of the Administrative
Agent, a material adverse effect on the market for loan syndications or adversely affecting the syndication of the Revolving Loans. 

  
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 (p) The Effective Date shall have occurred on or before January 7,
2011. The Administrative Agent shall notify the Lead Borrower and the Lenders of the Effective Date, and such notice shall be conclusive and binding on the Loan Parties. 
 Without limiting the generality of the provisions of Section 9.04, for purposes of determining compliance with the conditions specified in this Section 4.01, each Lender that has
signed this Agreement shall be deemed to have Consented to, approved or accepted or to be satisfied with, each document or other matter required thereunder to be Consented to or approved by or acceptable or satisfactory to a Lender unless the
Administrative Agent shall have received notice from such Lender prior to the proposed Effective Date specifying its objection thereto. 
 4.02 Conditions to all Credit Extensions. The obligation of each Lender to honor any Request for Credit Extension (other than a Conversion/Continuation Notice requesting only a conversion of
Loans to the other Type, or a continuation of LIBO Rate Loans) is subject to the following conditions precedent: 

(a) The representations and warranties of the Borrowers and each other Loan Party contained in Article V or any
other Loan Document, or which are contained in any document furnished at any time under or in connection herewith or therewith, shall be true and correct on and as of the date of such Credit Extension, except to the extent that such representations
and warranties specifically refer to an earlier date, in which case they shall be true and correct as of such earlier date, and except that for purposes of this Section 4.02, the representations and warranties contained in subsections
(a) and (b) of Section 5.05 shall be deemed to refer to the most recent statements furnished pursuant to clauses (a) and (b), respectively, of Section 6.01. 

(b) No Default shall exist, or would result from such proposed Credit Extension or from the application of the proceeds
thereof. 
 (c) The Administrative Agent and, if applicable, the L/C Issuer or the Swing Line Lender shall have
received a Request for Credit Extension in accordance with the requirements hereof. 
 (d) No event or
circumstance which could reasonably be expected to result in a Material Adverse Effect shall have occurred. 
 Each Request for Credit Extension
(other than a Conversion/Continuation Notice requesting only a conversion of Loans to the other Type or a continuation of LIBO Rate Loans) submitted by the Lead Borrower shall be deemed to be a representation and warranty by the Borrowers that the
conditions specified in Sections 4.02(a) and 4.02(b) have been satisfied on and as of the date of the applicable Credit Extension. The conditions set forth in this Section 4.02 are for the sole benefit of the Credit
Parties, but until the Required Lenders otherwise direct the Administrative Agent to cease making Revolving Loans, the Lenders will fund their Applicable Percentage of all Loans and L/C Advances and participate in all Swing Line Loans and Letters of
Credit whenever made or issued, which are requested by the Lead Borrower and which, notwithstanding the failure of the Loan Parties to comply with the provisions of this Article IV, agreed to by the Administrative Agent; provided,
however, the making of any such Loans or the 

  
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issuance of any Letters of Credit shall not be deemed a modification or waiver by any Credit Party of the provisions of this Article IV on any future occasion or a waiver of any rights of
the Credit Parties as a result of any such failure to comply. 
 ARTICLE V. 

REPRESENTATIONS AND WARRANTIES 
 To induce the Credit Parties to enter into this Agreement and to make Loans and to issue Letters of Credit hereunder, each Loan Party represents and warrants to the Administrative Agent and the other
Credit Parties that: 
 5.01 Existence, Qualification and Power. Each Loan Party and each Subsidiary thereof (a) is
a corporation, limited liability company, partnership or limited partnership, duly organized or formed, validly existing and, where applicable, in good standing under the Laws of the jurisdiction of its incorporation or organization, (b) has
all requisite power and authority and all requisite governmental licenses, permits, authorizations, consents and approvals to (i) own or lease its assets and carry on its business and (ii) execute, deliver and perform its obligations under
the Loan Documents to which it is a party, and (c) is duly qualified and is licensed and, where applicable, in good standing under the Laws of each jurisdiction where its ownership, lease or operation of properties or the conduct of its
business requires such qualification or license; except in each case referred to in clause (b)(i) or (c), to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect. Schedule 5.01 annexed hereto
sets forth, as of the Effective Date, each Loan Party’s name as it appears in official filings in its state of incorporation or organization, its state of incorporation or organization, organization type, organization number, if any, issued by
its state of incorporation or organization, and its federal employer identification number. 
 5.02 Authorization; No
Contravention. The execution, delivery and performance by each Loan Party of each Loan Document to which such Person is or is to be a party, has been duly authorized by all necessary corporate or other organizational action, and does not
and will not: (a) contravene the terms of any of such Person’s Organization Documents; (b) conflict with or result in any breach, termination, or contravention of, or constitute a default under, or require any payment to be made under
(i) any Material Contract or any Material Indebtedness to which such Person is a party or affecting such Person or the properties of such Person or any of its Subsidiaries or (ii) any order, injunction, writ or decree of any Governmental
Authority or any arbitral award to which such Person or its property is subject; (c) result in or require the creation of any Lien upon any asset of any Loan Party (other than Liens in favor of the Collateral Agent under the Security
Documents); or (d) violate any Law. 
 5.03 Governmental Authorization; Other Consents. No approval, consent,
exemption, authorization, or other action by, or notice to, or filing with, any Governmental Authority or any other Person is necessary or required in connection with the execution, delivery or performance by, or enforcement against, any Loan Party
of this Agreement or any other Loan Document, except for (a) the perfection or maintenance of the Liens created under the Security Documents (including the first priority nature thereof) or (b) such as have been obtained or made and are in
full force and effect. 

  
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 5.04 Binding Effect. This Agreement has been, and each other Loan Document,
when delivered, will have been, duly executed and delivered by each Loan Party that is party thereto. This Agreement constitutes, and each other Loan Document when so delivered will constitute, a legal, valid and binding obligation of such Loan
Party, enforceable against each Loan Party that is party thereto in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’ rights generally and subject to general
principles of equity, regardless of whether considered in a proceeding in equity or at law. 
 5.05 Financial Statements; No
Material Adverse Effect.  
 (a) The Audited Financial Statements (i) were prepared in accordance
with GAAP consistently applied throughout the period covered thereby, except as otherwise expressly noted therein; (ii) fairly present the financial condition of the Lead Borrower and its Subsidiaries as of the date thereof and their results of
operations for the period covered thereby in accordance with GAAP consistently applied throughout the period covered thereby, except as otherwise expressly noted therein; and (iii) show all Material Indebtedness and other liabilities, direct or
contingent, of the Lead Borrower and its Subsidiaries as of the date thereof, including liabilities for taxes, material commitments and Indebtedness. 
 (b) The unaudited Consolidated and consolidating balance sheet of the Lead Borrower and its Subsidiaries dated November 27, 2010, and the related Consolidated and consolidating statements of income
or operations, Shareholders’ Equity and cash flows for the fiscal quarter ended on that date (i) were prepared in accordance with GAAP consistently applied throughout the period covered thereby, except as otherwise expressly noted therein,
and (ii) fairly present the financial condition of the Lead Borrower and its Subsidiaries as of the date thereof and their results of operations for the period covered thereby, subject, in the case of clauses (i) and (ii), to the absence
of footnotes and to normal year-end audit adjustments. Schedule 5.05(b) sets forth all Material Indebtedness and other liabilities, direct or contingent, of the Loan Parties and their Consolidated Subsidiaries as of the date of such financial
statements, including liabilities for taxes, material commitments and Material Indebtedness. 
 (c) Since the
date of the Audited Financial Statements, there has been no event or circumstance, either individually or in the aggregate, that has had or could reasonably be expected to have a Material Adverse Effect. 

(d) Except as described on Schedule 5.05(d), to the knowledge of the Lead Borrower, no Internal Control Event
exists or has occurred since the date of the Audited Financial Statements that has resulted in or could reasonably be expected to result in a misstatement in any material respect, in any financial information delivered or to be delivered to the
Administrative Agent or the Lenders, of (i) covenant compliance calculations provided hereunder or (ii) the assets, liabilities, financial condition or results of operations of the Lead Borrower and its Subsidiaries on a Consolidated
basis. 
 (e) The Consolidated and consolidating forecasted balance sheet and statements of income and cash flows
of the Lead Borrower and its Subsidiaries delivered 

  
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pursuant to Sections 4.01 or 6.01 were prepared in good faith on the basis of the assumptions stated therein, which assumptions were fair in light of the conditions existing at the
time of delivery of such forecasts, and represented, at the time of delivery, the Loan Parties’ best estimate of its future financial performance. 
 5.06 Litigation. There are no actions, suits, proceedings, claims or disputes pending or, to the knowledge of the Lead Borrower after due and diligent investigation, threatened or contemplated, at
law, in equity, in arbitration or before any Governmental Authority, by or against any Loan Party or any of its Subsidiaries or against any of its properties or revenues that (a) purport to affect or pertain to this Agreement or any other Loan
Document, or any of the transactions contemplated hereby, or (b) except as specifically disclosed in Schedule 5.06, either individually or in the aggregate, if determined adversely, could reasonably be expected to have a Material Adverse
Effect. 
 5.07 No Default. No Loan Party or any Subsidiary is in default under or with respect to, or party to, any
Material Contract or any Material Indebtedness. No Default has occurred and is continuing or would result from the consummation of the transactions contemplated by this Agreement or any other Loan Document. 

5.08 Ownership of Property; Liens. 
 (a) Each of the Loan Parties and each Subsidiary thereof has good record, marketable and insurable title in fee simple to or valid leasehold interests in, all real property necessary or used in the
ordinary conduct of its business, except for such defects in title as could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. Each of the Loan Parties and each Subsidiary has good, marketable and
insurable title to, valid leasehold interests in, or valid licenses to use all personal property and assets material to the ordinary conduct of its business. No real property owned by any Loan Party or any Subsidiary is subject to any Lien other
than Permitted Encumbrances. 
 (b) Schedule 5.08(b)(1) sets forth the address (including street address,
county and state) of all Real Estate that is owned by the Loan Parties, together with a list of the holders of any mortgage or other Lien thereon as of the Effective Date. Schedule 5.08(b)(2) sets forth the address (including street address
and state) of all Leases of the Loan Parties, together with a list of the lessor and its contact information with respect to each such Lease as of the Effective Date. Each of such Leases is in full force and effect and the Loan Parties are not in
default of the terms thereof, except for any such defaults that, individually or in the aggregate, would not reasonably be expected to result in a Material Adverse Effect. 

(c) Schedule 7.01 sets forth a complete and accurate list of all Liens of record on the property or assets of each
Loan Party and each of its Subsidiaries, showing as of the Effective Date, the lienholder thereof, the principal amount of the obligations secured thereby and the property or assets of such Loan Party or such Subsidiary subject thereto. The property
of each Loan Party and each of its Subsidiaries is subject to no Liens, other than Liens set forth on Schedule 7.01, and Permitted Encumbrances. 

  
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 (d) Schedule 7.02 sets forth a complete and accurate list of all
Investments held by any Loan Party or any Subsidiary of a Loan Party on the Effective Date, showing as of the Effective Date, the amount, obligor or issuer and maturity, if any, thereof. 

5.09 Environmental Compliance. 
 (a) Except as specifically disclosed in Schedule 5.09, no Loan Party or any Subsidiary thereof (i) has failed to comply with any Environmental Law or to obtain, maintain or comply with any
permit, license or other approval required under any Environmental Law, (ii) has become subject to any Environmental Liability, (iii) has received notice of any claim with respect to any Environmental Liability or (iv) knows of any
basis for any Environmental Liability, except, in each case, as could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

(b) Except as otherwise set forth in Schedule 5.09, none of the properties currently or formerly owned or operated
by any Loan Party or any Subsidiary thereof is listed or, to the knowledge of the Lead Borrower, proposed for listing on the NPL or on the CERCLIS or any analogous foreign, state or local list or is adjacent to any such property; to the knowledge of
the Lead Borrower, there are no and never have been any underground or above-ground storage tanks or any surface impoundments, septic tanks, pits, sumps or lagoons in which Hazardous Materials are being or have been treated, stored or disposed on
any property currently owned or operated by any Loan Party or any Subsidiary thereof or on any property formerly owned or operated by any Loan Party or Subsidiary thereof; to the knowledge of the Lead Borrower, there is no asbestos or
asbestos-containing material on any property currently owned or operated by any Loan Party or Subsidiary thereof; and Hazardous Materials have not been released, discharged or disposed of on any property currently or formerly owned or operated by
any Loan Party or any Subsidiary thereof. 
 (c) Except as otherwise set forth on Schedule 5.09, no Loan
Party or any Subsidiary thereof is undertaking, and no Loan Party or any Subsidiary thereof has completed, either individually or together with other potentially responsible parties, any investigation or assessment or remedial or response action
relating to any actual or threatened release, discharge or disposal of Hazardous Materials at any site, location or operation, either voluntarily or pursuant to the order of any Governmental Authority or the requirements of any Environmental Law;
and all Hazardous Materials generated, used, treated, handled or stored at, or transported to or from, any property currently or formerly owned or operated by any Loan Party or any Subsidiary thereof have been disposed of in a manner not reasonably
expected to result in material liability to any Loan Party or any Subsidiary thereof. 
 5.10 Insurance. The
properties of the Loan Parties and their Subsidiaries are insured with financially sound and reputable insurance companies which are not Affiliates of the Loan Parties, in such amounts (after giving effect to any self-insurance), with such
deductibles and covering such risks (including, without limitation, workmen’s compensation, public liability, business interruption and property damage insurance) as are customarily carried by companies engaged in similar businesses and owning
similar properties in localities where the Loan Parties 

  
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or the applicable Subsidiary operates. Schedule 5.10 sets forth a description of all insurance maintained by or on behalf of the Loan Parties as of the Effective Date. Each insurance
policy listed on Schedule 5.10 is in full force and effect and all premiums in respect thereof that are due and payable have been paid. 
 5.11 Taxes. The Loan Parties and their Subsidiaries have filed all Federal, state and other material tax returns and reports required to be filed, and have paid all Federal, state and other
material taxes, assessments, fees and other governmental charges levied or imposed upon them or their properties, income or assets otherwise due and payable, except those which are being contested in good faith by appropriate proceedings being
diligently conducted, for which adequate reserves have been provided in accordance with GAAP, and which contest effectively suspends the collection of the contested obligation and the enforcement of any Lien securing such obligation. There is no
proposed tax assessment against any Loan Party or any Subsidiary that would, if made, have a Material Adverse Effect. No Loan Party or any Subsidiary thereof is a party to any tax sharing agreement. 

5.12 ERISA Compliance. 
 (a) Each Plan is in compliance in all material respects with the applicable provisions of ERISA, the Code and other Federal or state Laws. Each Plan that is intended to qualify under Section 401(a)
of the Code has received a favorable determination letter from the IRS or an application for such a letter is currently being processed by the IRS with respect thereto and, to the knowledge of the Lead Borrower, nothing has occurred which would
prevent, or cause the loss of, such qualification. The Loan Parties and each ERISA Affiliate have made all required contributions to each Plan subject to Section 412 of the Code, and no application for a funding waiver or an extension of any
amortization period pursuant to Section 412 of the Code has been made with respect to any Plan. No Lien imposed under the Code or ERISA exists or is likely to arise on account of any Plan. 

(b) There are no pending or, to the knowledge of the Lead Borrower, threatened claims, actions or lawsuits, or action by
any Governmental Authority, with respect to any Plan that could reasonably be expected to have a Material Adverse Effect. There has been no prohibited transaction or violation of the fiduciary responsibility rules with respect to any Plan that has
resulted or could reasonably be expected to result in a Material Adverse Effect. 
 (c) (i) No ERISA Event has
occurred or is reasonably expected to occur; (ii) no Pension Plan has any Unfunded Pension Liability; (iii) neither any Loan Party nor any ERISA Affiliate has incurred, or reasonably expects to incur, any liability under Title IV of ERISA
with respect to any Pension Plan (other than premiums due and not delinquent under Section 4007 of ERISA); (iv) neither any Loan Party nor any ERISA Affiliate has incurred, or reasonably expects to incur, any liability (and no event has
occurred which, with the giving of notice under Section 4219 of ERISA, would result in such liability) under Sections 4201 or 4243 of ERISA with respect to a Multiemployer Plan; and (v) neither any Loan Party nor any ERISA Affiliate has
engaged in a transaction that could be subject to Sections 4069 or 4212(c) of ERISA. 

  
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 5.13 Subsidiaries; Equity Interests. As of the Effective Date, the Loan
Parties have no Subsidiaries other than those specifically disclosed in Schedule 5.13(a), which Schedule sets forth the legal name, jurisdiction of incorporation or formation and authorized Equity Interests of each such Subsidiary. All of the
outstanding Equity Interests in such Subsidiaries have been validly issued, are fully paid and non-assessable and are owned by a Loan Party (or a Subsidiary of a Loan Party) in the amounts specified in Schedule 5.13(a) free and clear of all
Liens except for those created under the Security Documents. Except as set forth in Schedule 5.13(a), there are no outstanding rights to purchase any Equity Interests in any Subsidiary. The Loan Parties have no equity investments in any other
corporation or entity other than those specifically disclosed in Schedule 5.13(b). All of the outstanding Equity Interests in the Loan Parties have been validly issued, and are fully paid and non-assessable and are owned in the amounts
specified in Schedule 5.13(a) free and clear of all Liens except for those created under the Security Documents. The copies of the Organization Documents of each Loan Party and each amendment thereto provided pursuant to
Section 4.01 are true and correct copies of each such document, each of which is valid and in full force and effect. 
 5.14 Margin Regulations; Investment Company Act; Public Utility Holding Company Act.  
 (a) No Loan Party is engaged or will be engaged, principally or as one of its important activities, in the business of purchasing or carrying margin stock (within the meaning of Regulation U issued by the
FRB), or extending credit for the purpose of purchasing or carrying margin stock. None of the proceeds of the Credit Extensions shall be used directly or indirectly for the purpose of purchasing or carrying any margin stock, for the purpose of
reducing or retiring any Indebtedness that was originally incurred to purchase or carry any margin stock or for any other purpose that might cause any of the Credit Extensions to be considered a “purpose credit” within the meaning of
Regulations T, U, or X issued by the FRB. 
 (b) None of the Loan Parties, any Person Controlling any Loan Party,
or any Subsidiary is or is required to be registered as an “investment company” under the Investment Company Act of 1940, as amended and in effect from time to time. 

(c) None of the Loan Parties Loan Party is a “public utility holding company” within the meaning of, and subject
to regulation under, the Public Utility Holding Company Act of 2005, as amended and in effect from time to time. 
 5.15
Disclosure. Each Loan Party has disclosed to the Administrative Agent and the Lenders all agreements, instruments and corporate or other restrictions to which it or any of its Subsidiaries is subject, and all other matters known to it, that,
individually or in the aggregate, could reasonably be expected to result in a Material Adverse Effect. No report, financial statement, certificate or other information furnished (whether in writing or orally) by or on behalf of any Loan Party to the
Administrative Agent or any Lender in connection with the transactions contemplated hereby and the negotiation of this Agreement or delivered hereunder or under any other Loan Document (in each case, as modified or supplemented by other information
so furnished) contains any material misstatement of fact or omits to state any material fact necessary to make the statements therein, in the light of the circumstances under 

  
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which they were made, not misleading; provided that, with respect to projected financial information, the Loan Parties represent only that such information was prepared in good
faith based upon assumptions believed to be reasonable at the time. 
 5.16 Compliance with Laws. Each of the Loan
Parties and each Subsidiary is in compliance in all material respects with the requirements of all Laws and all orders, writs, injunctions and decrees applicable to it or to its properties, except in such instances in which (a) such requirement
of Law or order, writ, injunction or decree is being contested in good faith by appropriate proceedings diligently conducted or (b) the failure to comply therewith, either individually or in the aggregate, could not reasonably be expected to
have a Material Adverse Effect. 
 5.17 Intellectual Property; Licenses, Etc. The Loan Parties and their
Subsidiaries own, or possess the right to use, all of the Intellectual Property, licenses, permits and other authorizations that are reasonably necessary for the operation of their respective businesses, without conflict with the rights of any other
Person. To the knowledge of the Lead Borrower, no slogan or other advertising device, product, process, method, substance, part or other material now employed, or now contemplated to be employed, by any Loan Party or any Subsidiary infringes upon
any rights held by any other Person. Except as specifically disclosed in Schedule 5.17, no claim or litigation regarding any of the foregoing is pending or, to the knowledge of the Lead Borrower, threatened, which, either individually or in
the aggregate, could reasonably be expected to have a Material Adverse Effect. 
 5.18 Labor Matters. There are no
strikes, lockouts, slowdowns or other material labor disputes against any Loan Party or any Subsidiary thereof pending or, to the knowledge of the Lead Borrower, threatened. The hours worked by, and payments made to, employees of the Loan Parties
comply with the Fair Labor Standards Act, as amended and in effect from time to time, and any other applicable federal, state, local or foreign Law dealing with such matters, except to the extent that any such violation could not reasonably be
expected to have a Material Adverse Effect. No Loan Party or any of its Subsidiaries has incurred any liability or obligation under the Worker Adjustment and Retraining Act, as amended and in effect from time to time, or similar state Law. All
payments due from any Loan Party and its Subsidiaries, or for which any claim may be made against any Loan Party, on account of wages and employee health and welfare insurance and other benefits, have been paid or properly accrued in accordance with
GAAP as a liability on the books of such Loan Party. Except as set forth on Schedule 5.18, no Loan Party or any Subsidiary is a party to or bound by any collective bargaining agreement, management agreement, employment agreement, bonus,
restricted stock, stock option, or stock appreciation plan or agreement or any similar plan, agreement or arrangement. There are no representation proceedings pending or, to the Lead Borrower’s knowledge, threatened to be filed with the
National Labor Relations Board, and no labor organization or group of employees of any Loan Party or any Subsidiary has made a pending demand for recognition. There are no complaints, unfair labor practice charges, grievances, arbitrations, unfair
employment practices charges or any other claims or complaints against any Loan Party or any Subsidiary pending or, to the knowledge of the Lead Borrower, threatened to be filed with any Governmental Authority or arbitrator based on, arising out of,
in connection with, or otherwise relating to the employment or termination of employment of any employee of any Loan Party or any of its Subsidiaries. The consummation of the transactions contemplated by the Loan Documents will not give rise to any

  
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right of termination or right of renegotiation on the part of any union under any collective bargaining agreement to which any Loan Party or any of its Subsidiaries is bound. 

5.19 Security Documents. The Security Documents create in favor of the Collateral Agent a legal, valid and enforceable security
interest in the Collateral, and the Security Documents constitute, or will upon the filing of financing statements and/or the obtaining of “control”, in each case with respect to the relevant Collateral as required under the applicable
UCC, the creation of a fully perfected first priority Lien on, and security interest in, all right, title and interest of the Loan Parties thereunder in such Collateral, in each case prior and superior in right to any other Person, except for
Permitted Encumbrances having priority under applicable Law. 
 5.20 Solvency. After giving effect to the transactions
contemplated by this Agreement, and before and after giving effect to each Credit Extension, the Loan Parties, on a Consolidated basis, are, and will be, Solvent. No transfer of property has been or will be made by any Loan Party and no obligation
has been or will be incurred by any Loan Party in connection with the transactions contemplated by this Agreement or the other Loan Documents with the intent to hinder, delay, or defraud either present or future creditors of any Loan Party.

 5.21 Deposit Accounts; Credit Card Arrangements. 

(a) Annexed hereto as Schedule 5.21(a) is a list of all DDAs maintained by the Loan Parties as of the Effective
Date, which Schedule includes, with respect to each DDA (i) the name and address of the depository; (ii) the account number(s) maintained with such depository; (iii) a contact person at such depository, and (iv) the
identification of each Blocked Account Bank. 
 (b) Annexed hereto as Schedule 5.21(b) is a list
describing all arrangements as of the Effective Date to which any Loan Party is a party with respect to the processing and/or payment to such Loan Party of the proceeds of any credit card charges for sales made by such Loan Party. 

5.22 Brokers. No broker or finder brought about the obtaining, making or closing of the Loans or transactions contemplated by the
Loan Documents, and no Loan Party or Affiliate thereof has any obligation to any Person in respect of any finder’s or brokerage fees in connection therewith. 
 5.23 Customer and Trade Relations. There exists no actual or, to the knowledge of the Lead Borrower, threatened, termination or cancellation of, or any material adverse modification or change in
the business relationship of any Loan Party with any supplier material to its operations. 
 5.24 Material Contracts.
Schedule 5.24 sets forth all Material Contracts to which any Loan Party is a party or is bound as of the Effective Date. The Loan Parties have delivered true, correct and complete copies of such Material Contracts to the Administrative Agent
on or before the date hereof. The Loan Parties are not in breach or in default in any material respect of or under any Material Contract and have not received any notice of the intention of any other party thereto to terminate any Material Contract.

  
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 5.25 Casualty. Neither the businesses nor the properties of any Loan Party or any of
its Subsidiaries are affected by any fire, explosion, accident, strike, lockout or other labor dispute, drought, storm, hail, earthquake, embargo, act of God or of the public enemy or other casualty (whether or not covered by insurance) that, either
individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect. 
 5.26 Unrestricted
Subsidiaries. Each of the Unrestricted Subsidiaries is inactive or in the process of being liquidated or dissolved. 

ARTICLE VI. 

AFFIRMATIVE COVENANTS 
 So long as any Lender shall have any Commitment hereunder, any Loan or other Obligation hereunder shall remain unpaid or unsatisfied, or any Letter of Credit shall remain outstanding, the Loan Parties
shall, and shall (except in the case of the covenants set forth in Sections 6.01, 6.02, and 6.03) cause each Subsidiary to: 
 6.01 Financial Statements. Deliver to the Administrative Agent, in form and detail satisfactory to the Administrative Agent: 

(a) as soon as available, but in any event within ninety (90) days after the end of each Fiscal Year of the Lead
Borrower (commencing with the Fiscal Year ended January 29, 2011), a Consolidated and consolidating balance sheet of the Lead Borrower and its Subsidiaries as at the end of such Fiscal Year, and the related Consolidated and consolidating
statements of income or operations, Shareholders’ Equity and cash flows for such Fiscal Year, setting forth in each case in comparative form the figures for the previous Fiscal Year, all in reasonable detail and prepared in accordance with
GAAP, such Consolidated statements to be audited and accompanied by (i) a report and unqualified opinion of a Registered Public Accounting Firm of nationally recognized standing reasonably acceptable to the Administrative Agent, which report
and opinion shall be prepared in accordance with generally accepted auditing standards and shall not be subject to any “going concern” or like qualification or exception or any qualification or exception as to the scope of such audit, and
(ii) an opinion of such Registered Public Accounting Firm independently assessing Loan Parties’ internal controls over financial reporting in accordance with Item 308 of SEC Regulation S-K, PCAOB Auditing Standard No. 2, and
Section 404 of Sarbanes-Oxley expressing a conclusion that contains no statement that there is a material weakness in such internal controls, except for such material weaknesses as to which the Required Lenders do not object; and such
consolidating statements to be certified by a Responsible Officer of the Lead Borrower to the effect that such statements are fairly stated in all material respects when considered in relation to the Consolidated financial statements of the Lead
Borrower and its Subsidiaries; 
 (b) as soon as available, but in any event within forty-five (45) days
after the end of each Fiscal Quarter of each Fiscal Year of the Lead Borrower (commencing with the Fiscal Quarter ended October 30, 2010), a Consolidated and consolidating balance sheet of the Lead Borrower and its Subsidiaries as at the end of
such Fiscal Quarter, and 

  
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the related Consolidated and consolidating statements of income or operations, Shareholders’ Equity and cash flows for such Fiscal Quarter and for the portion of the Lead Borrower’s
Fiscal Year then ended, setting forth in each case in comparative form the figures for (A) such period set forth in the projections delivered pursuant to Section 6.01(d) hereof, (B) the corresponding Fiscal Quarter of the
previous Fiscal Year and (C) the corresponding portion of the previous Fiscal Year, all in reasonable detail, such Consolidated statements to be certified by a Responsible Officer of the Lead Borrower as fairly presenting the financial
condition, results of operations, Shareholders’ Equity and cash flows of the Lead Borrower and its Subsidiaries as of the end of such Fiscal Quarter in accordance with GAAP, subject only to normal year-end audit adjustments and the absence of
footnotes and such consolidating statements to be certified by a Responsible Officer of the Lead Borrower to the effect that such statements are fairly stated in all material respects when considered in relation to the Consolidated financial
statements of the Lead Borrower and its Subsidiaries; 
 (c) as soon as available, but in any event within thirty
(30) days after the end of each of the Fiscal Months of each Fiscal Year of the Lead Borrower (commencing with the Fiscal Month ended January 1, 2011), a Consolidated and consolidating balance sheet of the Lead Borrower and its
Subsidiaries as at the end of such Fiscal Month, and the related Consolidated and consolidating statements of income or operations, Shareholders’ Equity and cash flows for such Fiscal Month, and for the portion of the Lead Borrower’s
Fiscal Year then ended, setting forth in each case in comparative form the figures for (A) such period set forth in the projections delivered pursuant to Section 6.01(d) hereof, (B) the corresponding Fiscal Month of the
previous Fiscal Year and (C) the corresponding portion of the previous Fiscal Year, all in reasonable detail, such Consolidated statements to be certified by a Responsible Officer of the Lead Borrower as fairly presenting the financial
condition, results of operations, Shareholders’ Equity and cash flows of the Lead Borrower and its Subsidiaries as of the end of such Fiscal Month in accordance with GAAP, subject only to normal year-end audit adjustments and the absence of
footnotes and such consolidating statements to be certified by a Responsible Officer of the Lead Borrower to the effect that such statements are fairly stated in all material respects when considered in relation to the Consolidated financial
statements of the Lead Borrower and its Subsidiaries; 
 (d) as soon as available, but in any event at least
thirty (30) days before the end of each Fiscal Year of the Lead Borrower, (i) forecasts prepared by management of the Lead Borrower, in form satisfactory to the Administrative Agent, of Availability and Consolidated balance sheets and
statements of income or operations and cash flows of the Lead Borrower and its Subsidiaries on a monthly basis for the immediately following Fiscal Year (including the Fiscal Year in which the Maturity Date occurs), and (ii) a schedule of
proposed openings and closings of any office, store or facility during the immediately following Fiscal Year. 
 6.02
Certificates; Other Information. Deliver to the Administrative Agent, in form and detail satisfactory to the Administrative Agent: 

  
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 (a) concurrently with the delivery of the financial statements referred to
in Section 6.01(a), a certificate of its Registered Public Accounting Firm certifying such financial statements and stating that in making the examination necessary for their certification of such financial statements, such Registered
Public Accounting Firm has not obtained any knowledge of the existence of any Default or, if any such Default shall exist, stating the nature and status of such event; 

(b) concurrently with the delivery of the financial statements referred to in Sections 6.01(a) and
(b) and (c) (commencing with the delivery of the financial statements for the Fiscal Month ended January 1, 2011), (i) a duly completed Compliance Certificate signed by a Responsible Officer of the Lead Borrower,
and (ii) a copy of management’s discussion and analysis with respect to such financial statements. In the event of any change in generally accepted accounting principles used in the preparation of such financial statements, the Lead
Borrower shall also provide a statement of reconciliation conforming such financial statements to GAAP; 
 (c) on the tenth (10th) Business Day of each Fiscal Month (or, if such day is not a Business Day, on the next succeeding Business Day) (and except with respect to the last Fiscal Month of each Fiscal Quarter of the Lead
Borrower, with respect to which the applicable period for delivery shall be on the fifteenth (15th) Business Day of such Fiscal Month, rather than the tenth
(10th) Business Day), a certificate in the form of
Exhibit F (a “Borrowing Base Certificate”) showing the Borrowing Base as of the close of business as of the last day of the immediately preceding Fiscal Month, each Borrowing Base Certificate to be certified as complete and
correct by a Responsible Officer of the Lead Borrower; provided that (i) if Availability is at any time less than the greater of (A) twenty percent (20%) of the Loan Cap, or (B) $25,000,000, or (ii) any Event
of Default has occurred and is continuing, at the election of the Administrative Agent, such Borrowing Base Certificate shall be delivered on Wednesday of each week (or, if Wednesday is not a Business Day, on the next succeeding Business Day), as of
the close of business on the immediately preceding Saturday; 
 (d) on the tenth (10th) Business Day of each Fiscal Month (or, if such day is not a
Business Day, on the next succeeding Business Day), a schedule reflecting openings and closings of any office, store or facility during the immediately preceding Fiscal Month; 

(e) promptly upon receipt, copies of any detailed audit reports, management letters or recommendations submitted to the
board of directors (or the audit committee of the board of directors) of any Loan Party by its Registered Public Accounting Firm in connection with the accounts or books of the Loan Parties or any Subsidiary, or any audit of any of them, including,
without limitation, specifying any Internal Control Event; 
 (f) promptly after the same are available, copies
of each annual report, proxy or financial statement or other report or communication sent to the stockholders of the Loan Parties, and copies of all annual, regular, periodic and special reports and registration statements which any Loan Party may
file or be required to file with the SEC under Section 13 or 15(d) of the Securities Exchange Act of 1934, as amended and in 

  
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effect from time to time, or with any national securities exchange, and in any case not otherwise required to be delivered to the Administrative Agent pursuant hereto; 

(g) The financial and collateral reports described on Schedule 6.02 hereto, at the times set forth in such
Schedule; 
 (h) as soon as available, but in any event within 30 days after the end of each Fiscal Year of the
Loan Parties, a report summarizing the insurance coverage (specifying type, amount and carrier) in effect for each Loan Party and its Subsidiaries and containing such additional information as the Administrative Agent, or any Lender through the
Administrative Agent, may reasonably specify; 
 (i) promptly, and in any event within five Business Days after
receipt thereof by any Loan Party or any Subsidiary thereof, copies of each notice or other correspondence received from any Governmental Authority (including, without limitation, the SEC (or comparable agency in any applicable non-U.S.
jurisdiction)) concerning any proceeding with, or investigation or possible investigation or other inquiry by such Governmental Authority regarding financial or other operational results of any Loan Party or any Subsidiary thereof or any other
matter which, if adversely determined, could reasonably expected to have a Material Adverse Effect; and 
 (j)
promptly, such additional information regarding the business affairs, financial condition or operations of any Loan Party or any Subsidiary, or compliance with the terms of the Loan Documents, as the Administrative Agent or any Lender may from time
to time reasonably request. 
 Documents required to be delivered pursuant to Section 6.01(a), (b), or (c) or
Section 6.02(e) (to the extent any such documents are included in materials otherwise filed with the SEC) may be delivered electronically and if so delivered, shall be deemed to have been delivered on the date (i) on which the Lead
Borrower posts such documents, or provides a link thereto on the Lead Borrower’s website on the Internet at the website address listed on Schedule 10.02; or (ii) on which such documents are posted on the Lead Borrower’s behalf
on an Internet or intranet website, if any, to which each Lender and the Administrative Agent have access (whether a commercial, third-party website or whether sponsored by the Administrative Agent); provided that: (i) the Lead
Borrower shall deliver paper copies of such documents to the Administrative Agent or any Lender that requests the Lead Borrower to deliver such paper copies until a written request to cease delivering paper copies is given by the Administrative
Agent or such Lender and (ii) the Lead Borrower shall notify the Administrative Agent and each Lender (by telecopier or electronic mail) of the posting of any such documents and provide to the Administrative Agent by electronic mail electronic
versions (i.e., soft copies) of such documents. Notwithstanding anything contained herein, in every instance the Lead Borrower shall be required to provide paper copies of the Compliance Certificates required by Section 6.02(b) to
the Administrative Agent. The Administrative Agent shall have no obligation to request the delivery or to maintain copies of the documents referred to above, and in any event shall have no responsibility to monitor compliance by the Loan Parties
with any such request for delivery, and each Lender shall be solely responsible for requesting delivery to it or maintaining its copies of such documents. 

  
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 The Loan Parties hereby acknowledge that (a) the Administrative Agent and/or the
Arranger will make available to the Lenders and the L/C Issuer materials and/or information provided by or on behalf of the Loan Parties hereunder (collectively, “Borrower Materials”) by posting the Borrower Materials on IntraLinks
or another similar electronic system (the “Platform”) and (b) certain of the Lenders may be “public-side” Lenders (i.e., Lenders that do not wish to receive material non-public information with respect to the
Loan Parties or their securities) (each, a “Public Lender”). The Loan Parties hereby agree that so long as any Loan Party is the issuer of any outstanding debt or equity securities that are registered or issued pursuant to a private
offering or is actively contemplating issuing any such securities they will use commercially reasonable efforts to identify that portion of the Borrower Materials that may be distributed to the Public Lenders and that (w) all such Borrower
Materials shall be clearly and conspicuously marked “PUBLIC” which, at a minimum, shall mean that the word “PUBLIC” shall appear prominently on the first page thereof; (x) by marking Borrower Materials “PUBLIC,”
the Loan Parties shall be deemed to have authorized the Administrative Agent, the Arranger, the L/C Issuer and the Lenders to treat such Borrower Materials as not containing any material non-public information (although it may be sensitive and
proprietary) with respect to the Loan Parties or their securities for purposes of United States Federal and state securities laws (provided, however, that to the extent such Borrower Materials constitute Information, they shall be
treated as set forth in Section 10.07); (y) all Borrower Materials marked “PUBLIC” are permitted to be made available through a portion of the Platform designated “Public Investor”; and (z) the
Administrative Agent and the Arranger shall be entitled to treat any Borrower Materials that are not marked “PUBLIC” as being suitable only for posting on a portion of the Platform not designated “Public Investor.” 

6.03 Notices. Promptly notify the Administrative Agent: 

(a) of the occurrence of any Default; 

(b) of any matter that has resulted or could reasonably be expected to result in a Material Adverse Effect, including
(i) breach or non-performance of, or any default under, a Material Contract or with respect to Material Indebtedness of any Loan Party or any Subsidiary thereof; (ii) any dispute, litigation, investigation, proceeding or suspension between
any Loan Party or any Subsidiary thereof and any Governmental Authority; or (iii) the commencement of, or any material development in, any litigation or proceeding affecting any Loan Party or any Subsidiary thereof, including pursuant to any
applicable Environmental Laws; 
 (c) of the occurrence of any ERISA Event; 

(d) of any material change in accounting policies or financial reporting practices by the Lead Borrower or any Subsidiary
thereof; 
 (e) of any change in the Lead Borrower’s senior executive officers; 

(f) of the discharge by the Lead Borrower of its present Registered Public Accounting Firm or any withdrawal or
resignation by such Registered Public Accounting Firm; 

  
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 (g) of any material collective bargaining agreement or other labor contract
to which a Loan Party becomes a party, or the application for the certification of a collective bargaining agent; 
 (h) of the filing of any Lien for unpaid Taxes against any Loan Party in excess of $1,000,000; and 
 (i) of any casualty or other insured damage to any material portion of the Collateral or the commencement of any action or proceeding for the taking of any interest in a material portion of the Collateral
under power of eminent domain or by condemnation or similar proceeding or if any material portion of the Collateral is damaged or destroyed. 

Each notice pursuant to this Section 6.03 shall be accompanied by a statement of a Responsible Officer of the Lead Borrower setting forth
details of the occurrence referred to therein and stating what action the Lead Borrower has taken and proposes to take with respect thereto. Each notice pursuant to Section 6.03(a) shall describe with particularity any and all provisions
of this Agreement and any other Loan Document that have been breached. 
 6.04 Payment of Obligations. Pay and discharge,
as the same shall become due and payable, all its obligations and liabilities, including (a) all tax liabilities, assessments and governmental charges or levies upon it or its properties or assets, (b) all lawful claims (including, without
limitation, claims of landlords, warehousemen, customs brokers, and carriers) which, if unpaid, would by law become a Lien upon its property; and (c) all Indebtedness, as and when due and payable, but subject to any subordination provisions
contained in any instrument or agreement evidencing such Indebtedness, except, in each case, where (a) the validity or amount thereof is being contested in good faith by appropriate proceedings, (b) such Loan Party has set aside on its
books adequate reserves with respect thereto in accordance with GAAP, (c) such contest effectively suspends collection of the contested obligation and enforcement of any Lien securing such obligation, (d) no Lien has been filed with
respect thereto and (e) the failure to make payment pending such contest could not reasonably be expected to result in a Material Adverse Effect. Nothing contained herein shall be deemed to limit the rights of the Administrative Agent with
respect to determining Reserves pursuant to this Agreement. 
 6.05 Preservation of Existence, Etc. (a) Preserve, renew
and maintain in full force and effect its legal existence and good standing under the Laws of the jurisdiction of its organization or formation except in a transaction permitted by Sections 7.04 or 7.05; (b) take all reasonable
action to maintain all rights, privileges, permits, licenses and franchises necessary or desirable in the normal conduct of its business, except to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect;
and (c) preserve or renew all of its Intellectual Property, except to the extent such Intellectual Property is no longer used or useful in the conduct of the business of the Loan Parties. 

6.06 Maintenance of Properties. (a) Maintain, preserve and protect all of its material properties and equipment necessary in
the operation of its business in good working order and condition, ordinary wear and tear excepted; and (b) make all necessary repairs thereto and 

  
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renewals and replacements thereof except where the failure to do so could not reasonably be expected to have a Material Adverse Effect. 

6.07 Maintenance of Insurance. Maintain with financially sound and reputable insurance companies not Affiliates of the Loan
Parties, insurance with respect to its properties and business against loss or damage of the kinds customarily insured against by Persons engaged in the same or similar business and operating in the same or similar locations or as is required by
applicable Law, of such types and in such amounts (after giving effect to any self-insurance compatible with the following standards) as are customarily carried under similar circumstances by such other Persons and as are reasonably acceptable to
the Administrative Agent. 
 (a) Fire and extended coverage policies maintained with respect to any Collateral
shall be endorsed or otherwise amended to include (i) a non-contributing mortgage clause (regarding improvements to real property) and lenders’ loss payable clause (regarding personal property), in form and substance satisfactory to the
Collateral Agent, which endorsements or amendments shall provide that the insurer shall pay all proceeds otherwise payable to the Loan Parties under the policies directly to the Collateral Agent, (ii) a provision to the effect that none of the
Loan Parties, Credit Parties or any other Person shall be a co-insurer and (iii) such other provisions as the Collateral Agent may reasonably require from time to time to protect the interests of the Credit Parties. Commercial general liability
policies shall be endorsed to name the Collateral Agent as an additional insured. Business interruption policies shall name the Collateral Agent as a loss payee and shall be endorsed or amended to include (i) a provision that, from and after
the Effective Date, the insurer shall pay all proceeds otherwise payable to the Loan Parties under the policies directly to the Collateral Agent, (ii) a provision to the effect that none of the Loan Parties, the Administrative Agent, the
Collateral Agent or any other party shall be a co-insurer and (iii) such other provisions as the Collateral Agent may reasonably require from time to time to protect the interests of the Credit Parties. Each such policy referred to in this
Section 6.07(a) shall also provide that it shall not be canceled, modified or not renewed (i) by reason of nonpayment of premium except upon not less than ten (10) days’ prior written notice thereof by the insurer to the
Collateral Agent (giving the Collateral Agent the right to cure defaults in the payment of premiums) or (ii) for any other reason except upon not less than thirty (30) days’ prior written notice thereof by the insurer to the
Collateral Agent. The Lead Borrower shall deliver to the Collateral Agent, prior to the cancellation, modification or non-renewal of any such policy of insurance, a copy of a renewal or replacement policy (or other evidence of renewal of a policy
previously delivered to the Collateral Agent, including an insurance binder) together with evidence satisfactory to the Collateral Agent of payment of the premium therefor. 

(b) None of the Credit Parties, or their agents or employees shall be liable for any loss or damage insured by the
insurance policies required to be maintained under this Section 6.07. Each Loan Party shall look solely to its insurance companies or any other parties other than the Credit Parties for the recovery of such loss or damage and such
insurance companies shall have no rights of subrogation against any Credit Party or its agents or employees. If, however, the insurance policies do not provide waiver of subrogation rights against such parties, as required above, then the Loan
Parties hereby 

  
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agree, to the extent permitted by law, to waive their right of recovery, if any, against the Credit Parties and their agents and employees. The designation of any form, type or amount of
insurance coverage by the any Credit Party under this Section 6.07 shall in no event be deemed a representation, warranty or advice by such Credit Party that such insurance is adequate for the purposes of the business of the Loan Parties
or the protection of their properties. 
 (c) In the event that (i) any part of the Collateral is damaged by
fire or other casualty or (ii) the Borrowers experience an interruption in their business which is insured under the Borrowers’ business interruption policies, and the insurance proceeds for such damage or business interruption are greater
than $1.0 million in any Fiscal Year, whether or not a Cash Dominion Event then exists, such proceeds, in their entirety, shall be delivered to the Administrative Agent and the Administrative Agent shall promptly apply such proceeds to reduce the
Borrowers’ outstanding Credit Extensions in accordance with Sections 2.05(g) or 8.03, as applicable. In the event that (i) any part of the Collateral is damaged by fire or other casualty or (ii) the Borrowers experience
an interruption in their business which is insured under the Borrowers’ business interruption policies, and the insurance proceeds for such damage are less than $1.0 million in any Fiscal Year, such proceeds, in their entirety, shall be
delivered to the Borrowers, unless a Cash Dominion Event is then occurring, in which event such proceeds shall be delivered to the Administrative Agent and the Administrative Agent shall promptly apply such proceeds to reduce the Borrowers’
outstanding balance of Credit Extensions in accordance with Sections 2.05(g) or Section 8.03, as applicable. 
 (d) Permit any representatives that are designated by the Collateral Agent to inspect the insurance policies maintained by or on behalf of the Loan Parties and to inspect books and records related thereto
and any properties covered thereby. The Loan Parties shall pay the reasonable fees and expenses of any representatives retained by the Collateral Agent to conduct any such inspection. 

6.08 Compliance with Laws. Comply in all material respects with the requirements of all Laws and all orders, writs,
injunctions and decrees applicable to it or to its business or property, except in such instances in which (a) such requirement of Law or order, writ, injunction or decree is being contested in good faith by appropriate proceedings diligently
conducted and with respect to which adequate reserves have been set aside and maintained by the Loan Parties in accordance with GAAP; (b) such contest effectively suspends enforcement of the contested Laws, and (c) the failure to comply
therewith could not reasonably be expected to have a Material Adverse Effect. 
 6.09 Books and Records; Accountants.

 (a) Maintain proper books of record and account, in which full, true and correct entries in conformity with
GAAP consistently applied shall be made of all financial transactions and matters involving the assets and business of the Loan Parties or such Subsidiary, as the case may be; and (ii) maintain such books of record and account in material
conformity with all applicable requirements of any Governmental Authority 

  
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having regulatory jurisdiction over the Loan Parties or such Subsidiary, as the case may be. 
 (b) At all times, retain a Registered Public Accounting Firm which is reasonably satisfactory to the Administrative Agent and instruct such Registered Public Accounting Firm to cooperate with, and be
available to, the Administrative Agent or its representatives to discuss the Loan Parties’ financial performance, financial condition, operating results, controls, and such other matters, within the scope of the retention of such Registered
Public Accounting Firm, as may be raised by the Administrative Agent. 
 6.10 Inspection Rights. 

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

(b) Upon the request of the Administrative Agent after reasonable prior notice, permit the Administrative Agent or
professionals (including investment bankers, consultants, accountants, lawyers and appraisers) retained by the Administrative Agent (and, at any time when an Event of Default exists, accompanied by any Lender) to conduct appraisals, commercial
finance examinations and other evaluations, including, without limitation, of (i) the Lead Borrower’s practices in the computation of the Borrowing Base and (ii) the assets included in the Borrowing Base and related financial
information such as, but not limited to, sales, gross margins, payables, accruals and reserves. Subject to the following sentences, the Loan Parties shall pay the fees and expenses of the Administrative Agent or such professionals with respect to
such evaluations and appraisals. The Loan Parties acknowledge that the Administrative Agent shall undertake up to two (2) commercial finance examinations and up to two (2) Inventory appraisals each Fiscal Year at the Loan Parties’
expense. In addition, if (i) Availability is less than the greater of (A) twenty percent (20%) of the Loan Cap or (B) $25,000,000, the Administrative Agent shall undertake up to three (3) commercial finance examinations and
up to three (3) inventory appraisals each Fiscal Year, all at the expense of the Loan Parties. Notwithstanding the foregoing, the Administrative Agent may cause additional inventory appraisals and commercial finance examinations to be
undertaken (i) as it in its discretion deems necessary or appropriate, at its own expense, or (ii) if required by applicable Law or if a Default or Event of Default shall have occurred and be continuing, at the expense of the Loan Parties.

 6.11 Use of Proceeds. Use the proceeds of the Credit Extensions (a) to finance transaction fees and expenses
related hereto, (b) to finance the acquisition of working capital 

  
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assets of the Borrowers, including the purchase of inventory and equipment, in each case in the ordinary course of business, (c) to finance Capital Expenditures of the Borrowers, and
(d) for general corporate purposes of the Loan Parties, in each case to the extent expressly permitted under applicable Law and the Loan Documents. 
 6.12 Additional Loan Parties. Notify the Administrative Agent at the time that any Person becomes a Subsidiary, and promptly thereafter (and in any event within fifteen (15) days),
cause any such Person (a) which is not a CFC, to (i) become a Loan Party by executing and delivering to the Administrative Agent a Joinder Agreement or a Facility Guaranty or such other document as the Administrative Agent shall deem
appropriate for such purpose, (ii) grant a Lien to the Collateral Agent on such Person’s assets to secure the Obligations, and (iii) deliver to the Administrative Agent documents of the types referred to in clauses (iii) and
(iv) of Section 4.01(a) and favorable opinions of counsel to such Person (which shall cover, among other things, the legality, validity, binding effect and enforceability of the documentation referred to in clause (a)), and
(b) if any Equity Interests or Indebtedness of such Person are owned by or on behalf of any Loan Party, to pledge such Equity Interests and promissory notes evidencing such Indebtedness (except that, if such Subsidiary is a CFC, the Equity
Interests of such Subsidiary to be pledged may be limited to 65% of the outstanding Equity Interests of such Subsidiary and such time period may be extended based on local law or practice), in each case in form, content and scope reasonably
satisfactory to the Administrative Agent. In no event shall compliance with this Section 6.12 waive or be deemed a waiver or Consent to any transaction giving rise to the need to comply with this Section 6.12 if such
transaction was not otherwise expressly permitted by this Agreement or constitute or be deemed to constitute, with respect to any Subsidiary, an approval of such Person as a Borrower or permit the inclusion of any acquired assets in the computation
of the Borrowing Base. 
 6.13 Cash Management. 

(a) On or prior to the Effective Date: 

(i) deliver to the Administrative Agent copies of notifications (each, a “Credit Card Notification”)
substantially in the form attached hereto as Exhibit G which have been executed on behalf of such Loan Party and delivered to such Loan Party’s credit card clearinghouses and processors listed on Schedule 5.21(b); and 

(ii) enter into a blocked account agreement (each, a “Blocked Account Agreement”) satisfactory in form
and substance to the Agents with each Blocked Account Bank (collectively, the “Blocked Accounts”). 
 (b) Each Credit Card Notification shall require the ACH or wire transfer no less frequently than daily (and whether or not there are then any outstanding Obligations) to a Blocked Account of all payments
due from credit card processors. 
 (c) Each Blocked Account Agreement shall require, and the Loan Parties shall
cause, after the occurrence and during the continuance of a Cash Dominion Event, the ACH or wire transfer no less frequently than daily (and whether or not there are then any 

  
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outstanding Obligations) to the concentration account maintained by the Collateral Agent at Bank of America (the “Concentration Account”), of all cash receipts and collections,
including, without limitation, the following: 
 (i) all available cash receipts from the sale of Inventory and
other assets; 
 (ii) all proceeds of collections of Accounts; 

(iii) all Net Proceeds, and all other cash payments received by a Loan Party from any Person or from any source or on
account of any sale or other transaction or event; 
 (iv) the then contents of each DDA (net of any minimum
balance, not to exceed $2,500.00, as may be required to be kept in the subject DDA by the depository institution at which such DDA is maintained); 
 (v) the then entire ledger balance of each Blocked Account (net of any minimum balance, not to exceed $2,500.00, as may be required to be kept in the subject Blocked Account by the Blocked Account Bank);
and 
 (vi) the proceeds of all credit card charges. 

(d) The Concentration Account shall at all times be under the sole dominion and control of the Collateral Agent. The Loan
Parties hereby acknowledge and agree that (i) the Loan Parties have no right of withdrawal from the Concentration Account, (ii) the funds on deposit in the Concentration Account shall at all times be collateral security for all of the
Obligations and (iii) the funds on deposit in the Concentration Account shall be applied as provided in this Agreement. In the event that, notwithstanding the provisions of this Section 6.13, any Loan Party receives or otherwise has
dominion and control of any such proceeds or collections, such proceeds and collections shall be held in trust by such Loan Party for the Collateral Agent, shall not be commingled with any of such Loan Party’s other funds or deposited in any
account of such Loan Party and shall, not later than the Business Day after receipt thereof, be deposited into the Concentration Account or dealt with in such other fashion as such Loan Party may be instructed by the Collateral Agent. 

(e) Upon the request of the Administrative Agent, the Loan Parties shall cause bank statements and/or other reports to be
delivered to the Administrative Agent not less often than monthly, accurately setting forth all amounts deposited in each Blocked Account to ensure the proper transfer of funds as set forth above. 

6.14 Information Regarding the Collateral. 

(a) Furnish to the Administrative Agent at least thirty (30) days prior written notice of any change in: (i) any
Loan Party’s name or in any trade name used to identify it in the conduct of its business or in the ownership of its properties; (ii) any Loan Party’s organizational structure or jurisdiction of incorporation or formation; or
(iii) any Loan 

  
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Party’s Federal Taxpayer Identification Number or organizational identification number assigned to it by its state of organization. The Loan Parties agree not to effect or permit any change
referred to in the preceding sentence unless all filings have been made under the UCC or otherwise that are required in order for the Collateral Agent to continue at all times following such change to have a valid, legal and perfected first priority
security interest in all the Collateral for its own benefit and the benefit of the other Credit Parties. 
 (b)
Furnish to the Administrative Agent at least thirty (30) days prior written notice of any change in: (i) any Loan Party’s name or in any trade name used to identify it in the conduct of its business or in the ownership of its
properties; (ii) the location of any Loan Party’s chief executive office, its principal place of business, any office in which it maintains books or records relating to Collateral owned by it or any office or facility at which Collateral
owned by it is located (including the establishment of any such new office or facility); 
 (c) Should any of the
information on any of the Schedules hereto become inaccurate or misleading in any material respect as a result of changes after the Effective Date, the Lead Borrower shall advise the Administrative Agent in writing of such revisions or updates as
may be necessary or appropriate to update or correct the same. From time to time as may be reasonably requested by the Administrative Agent, the Lead Borrower shall supplement each Schedule hereto, or any representation herein or in any other Loan
Document, with respect to any matter arising after the Effective Date that, if existing or occurring on the Effective Date, would have been required to be set forth or described in such Schedule or as an exception to such representation or that is
necessary to correct any information in such Schedule or representation which has been rendered inaccurate thereby (and, in the case of any supplements to any Schedule, such Schedule shall be appropriately marked to show the changes made therein).
Notwithstanding the foregoing, no supplement or revision to any Schedule or representation shall be deemed the Credit Parties’ consent to the matters reflected in such updated Schedules or revised representations nor permit the Loan Parties to
undertake any actions otherwise prohibited hereunder or fail to undertake any action required hereunder from the restrictions and requirements in existence prior to the delivery of such updated Schedules or such revision of a representation; nor
shall any such supplement or revision to any Schedule or representation be deemed the Credit Parties’ waiver of any Default resulting from the matters disclosed therein. 
 6.15 Physical Inventories. 
 (a) Cause not less than one
(1) physical inventory to be undertaken, at the expense of the Loan Parties, in each twelve (12) month period conducted by such inventory takers as are satisfactory to the Collateral Agent and following such methodology as is consistent
with the methodology used in the immediately preceding inventory or as otherwise may be satisfactory to the Collateral Agent. The Collateral Agent, at the expense of the Loan Parties, may participate in and/or observe each scheduled physical count
of Inventory which is undertaken on behalf of any Loan Party. The Lead Borrower, within thirty (30) days following the completion of such inventory, shall provide the Collateral Agent with a reconciliation of the results of such inventory

  
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(as well as of any other physical inventory undertaken by a Loan Party) and shall post such results to the Loan Parties’ stock ledgers and general ledgers, as applicable. 

(b) The Collateral Agent, in its discretion, if any Default exists, may cause additional such inventories to be taken as
the Collateral Agent determines (each, at the expense of the Loan Parties). 
 6.16 Environmental Laws. (a) Conduct
its operations and keep and maintain its Real Estate in material compliance with all Environmental Laws and Environmental Permits; (b) obtain and renew all Environmental Permits necessary for its operations and properties; and
(c) implement any and all investigation, remediation, removal and response actions that are appropriate or necessary to maintain the value and marketability of the Real Estate or to otherwise comply with Environmental Laws pertaining to the
presence, generation, treatment, storage, use, disposal, transportation or release of any Hazardous Materials on, at, in, under, above, to, from or about any of its Real Estate; provided, however, that neither a Loan Party nor any of
its Subsidiaries shall be required to undertake any such cleanup, removal, remedial or other action to the extent that its obligation to do so is being contested in good faith and by proper proceedings and adequate reserves have been set aside and
are being maintained by the Loan Parties with respect to such circumstances in accordance with GAAP. 
 6.17 Further
Assurances. 
 (a) Execute any and all further documents, financing statements, agreements and instruments,
and take all such further actions (including the filing and recording of financing statements and other documents), that may be required under any applicable Law, or which any Agent may reasonably request, to effectuate the transactions contemplated
by the Loan Documents or to grant, preserve, protect or perfect the Liens created or intended to be created by the Security Documents or the validity or priority of any such Lien, all at the expense of the Loan Parties. The Loan Parties also agree
to provide to the Agents, from time to time upon request, evidence satisfactory to the Agents as to the perfection and priority of the Liens created or intended to be created by the Security Documents. 

(b) If any material assets are acquired by any Loan Party after the Effective Date (other than assets constituting
Collateral under the Security Agreement that become subject to the Lien of the Security Agreement upon acquisition thereof), notify the Agents thereof, and the Loan Parties will cause such assets to be subjected to a Lien securing the Obligations
and will take such actions as shall be necessary or shall be requested by any Agent to grant and perfect such Liens, including actions described in paragraph (a) of this Section 6.17, all at the expense of the Loan Parties. In no
event shall compliance with this Section 6.17(b) waive or be deemed a waiver or Consent to any transaction giving rise to the need to comply with this Section 6.17(b) if such transaction was not otherwise expressly permitted
by this Agreement or constitute or be deemed to constitute Consent to the inclusion of any acquired assets in the computation of the Borrowing Base. 
 (c) Upon the request of the Collateral Agent, cause each of its customs brokers, freight forwarders, consolidators and/or carriers to deliver an agreement

  
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(including, without limitation, a Customs Broker Agreement) to the Collateral Agent covering such matters and in such form as the Collateral Agent may reasonably require. 

6.18 Compliance with Terms of Leaseholds. Except as otherwise expressly permitted hereunder, make all payments and otherwise
perform all obligations in respect of all Leases of real property to which any Loan Party or any of its Subsidiaries is a party, keep such Leases in full force and effect and not allow such Leases to lapse or be terminated or any rights to renew
such leases to be forfeited or cancelled, notify the Administrative Agent of any default by any party with respect to such Leases and cooperate with the Administrative Agent in all respects to cure any such default, and cause each of its
Subsidiaries to do so, except, in any case, where the failure to do so, either individually or in the aggregate, could not be reasonably likely to have a Material Adverse Effect. 

6.19 Material Contracts. Perform and observe all the terms and provisions of each Material Contract to be performed or observed by
it, maintain each such Material Contract in full force and effect, enforce each such Material Contract in accordance with its terms, take all such action to such end as may be from time to time requested by the Administrative Agent and, upon request
of the Administrative Agent, make to each other party to each such Material Contract such demands and requests for information and reports or for action as any Loan Party or any of its Subsidiaries is entitled to make under such Material Contract,
and cause each of its Subsidiaries to do so, except, in any case, where the failure to do so, either individually or in the aggregate, could not be reasonably likely to have a Material Adverse Effect. 

6.20 Unrestricted Subsidiaries. No Unrestricted Subsidiary shall, at any time, have assets in excess of $100,000 in the aggregate.

 ARTICLE VII. 
 NEGATIVE COVENANTS 
 So long as any Lender shall have any Commitment
hereunder, any Loan or other Obligation hereunder shall remain unpaid or unsatisfied, or any Letter of Credit shall remain outstanding, no Loan Party shall, nor shall it permit any Subsidiary to, directly or indirectly: 

7.01 Liens. Create, incur, assume or suffer to exist any Lien upon any of its property, assets or revenues, whether now
owned or hereafter acquired, or sign or file or suffer to exist under the UCC or any similar Law or statute of any jurisdiction a financing statement that names any Loan Party or any Subsidiary thereof as debtor; sign or suffer to exist any security
agreement authorizing any Person thereunder to file such financing statement; sell any of its property or assets subject to an understanding or agreement (contingent or otherwise) to repurchase such property or assets with recourse to it or any of
its Subsidiaries; or assign or otherwise transfer any accounts or other rights to receive income, other than, as to all of the above, Permitted Encumbrances. 
 7.02 Investments. Make any Investments, except Permitted Investments. 
 7.03 Indebtedness. Create, incur, assume, guarantee, suffer to exist or otherwise become or remain liable with respect to, any Indebtedness, except Permitted Indebtedness. 

  
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 7.04 Fundamental Changes. Merge, dissolve, liquidate, consolidate with or into
another Person (or agree to do any of the foregoing), except that, so long as no Default shall have occurred and be continuing prior to, or immediately after giving effect to, any action described below or would result therefrom: 

(a) any Subsidiary may merge with (i) a Loan Party, provided that the Loan Party shall be the
continuing or surviving Person, or (ii) any one or more other Subsidiaries, provided that when any wholly-owned Subsidiary is merging with another Subsidiary, the wholly-owned Subsidiary shall be the continuing or surviving
Person; 
 (b) in connection with a Permitted Acquisition, any Subsidiary of a Loan Party may merge with or into
or consolidate with any other Person or permit any other Person to merge with or into or consolidate with it; provided that (i) the Person surviving such merger shall be a wholly-owned Subsidiary of a Loan Party and (ii) in
the case of any such merger to which any Loan Party is a party, such Loan Party is the surviving Person; 
 (c)
any CFC that is not a Loan Party may merge into any CFC that is not a Loan Party; and 
 (d) any Unrestricted
Subsidiary may be liquidated or dissolved. 
 7.05 Dispositions. Make any Disposition or enter into any agreement to make
any Disposition, except Permitted Dispositions. 
 7.06 Restricted Payments. Declare or make, directly or indirectly, any
Restricted Payment, or incur any obligation (contingent or otherwise) to do so, or issue or sell any Equity Interests or accept any capital contribution, except that, so long as no Default shall have occurred and be continuing prior to, or
immediately after giving effect to, any action described below or would result therefrom: 
 (a) each Subsidiary
of a Loan Party may make Restricted Payments to any Loan Party; 
 (b) the Loan Parties and each Subsidiary may
declare and make dividend payments or other distributions payable solely in the common stock or other common Equity Interests of such Person; 
 (c) if the Payment Conditions are satisfied, the Loan Parties and each Subsidiary may purchase, redeem or otherwise acquire Equity Interests issued by it; 

(d) if the Payment Conditions are satisfied, the Lead Borrower may declare or pay cash dividends to its stockholders; and

 (e) the Loan Parties may issue and sell Equity Interests provided that (i) (A) with respect to any
Equity Interests, all dividends in respect of which are to be paid (and all other payments in respect of which are to be made) shall be in additional shares of such Equity Interests, in lieu of cash, (B) such Equity Interests shall not be
subject to 

  
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redemption other than redemption at the option of the Loan Party issuing such Equity Interests, and (C) all payments in respect of such Equity Interests are expressly subordinated to the
Obligations, and (ii) no Loan Party shall issue any additional Equity Interests in a Subsidiary. 
 7.07 Prepayments of
Indebtedness. Prepay, redeem, purchase, defease or otherwise satisfy prior to the scheduled maturity thereof in any manner any Indebtedness, or make any payment in violation of any subordination terms of any Subordinated Indebtedness, except
(a) as long as no Default or Event of Default then exists or would arise therefrom, regularly scheduled or mandatory repayments or redemptions of Permitted Indebtedness, and (b) prepayments of Permitted Indebtedness (but excluding on
account of any Subordinated Indebtedness) as long as (i) no Default or Event of Default then exists or would arise as a result of entering into such transaction or the making such payment, and (ii) average monthly Availability, as
projected on a pro-forma basis for the twelve (12) months following and after giving effect to such prepayment, will be equal to or greater than thirty-five percent (35%) of the Loan Cap. 

7.08 Change in Nature of Business. Engage in any line of business substantially different from the Business conducted by the Loan
Parties and their Subsidiaries on the Effective Date or any business substantially related or incidental thereto. 
 7.09
Transactions with Affiliates. Enter into, renew, extend or be a party to any transaction of any kind with any Affiliate of any Loan Party, whether or not in the ordinary course of business, other than on fair and reasonable terms
substantially as favorable to the Loan Parties or such Subsidiary as would be obtainable by the Loan Parties or such Subsidiary at the time in a comparable arm’s length transaction with a Person other than an Affiliate, provided
that the foregoing restriction shall not apply to a transaction between or among the Loan Parties. 
 7.10 Burdensome
Agreements. Enter into or permit to exist any Contractual Obligation (other than this Agreement or any other Loan Document) that (a) limits the ability (i) of any Subsidiary to make Restricted Payments or other distributions to
any Loan Party or to otherwise transfer property to or invest in a Loan Party, (ii) of any Subsidiary to Guarantee the Obligations, (iii) of any Subsidiary to make or repay loans to a Loan Party, or (iv) of the Loan Parties or any
Subsidiary to create, incur, assume or suffer to exist Liens on property of such Person in favor of the Collateral Agent; provided, however, that this clause (iv) shall not prohibit any negative pledge incurred or provided in
favor of any holder of Indebtedness permitted under Section 7.01 solely to the extent any such negative pledge relates to the property financed by or the subject of such Indebtedness; or (b) requires the grant of a Lien to secure an
obligation of such Person if a Lien is granted to secure another obligation of such Person. 
 7.11 Use of Proceeds.
Use the proceeds of any Credit Extension, whether directly or indirectly, and whether immediately, incidentally or ultimately, to purchase or carry margin stock (within the meaning of Regulation U of the FRB) or to extend credit to others for
the purpose of purchasing or carrying margin stock or to refund Indebtedness originally incurred for such purpose. 
 7.12
Amendment of Material Documents. Amend, modify or waive any of a Loan Party’s rights under (a) its Organization Documents or (b) any Material Contract or Material 

  
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Indebtedness (other than on account of any refinancing thereof otherwise permitted hereunder), in each case to the extent that such amendment, modification or waiver would be reasonably likely to
have a Material Adverse Effect. 
 7.13 Corporate Name; Fiscal Year. 

(a) Change the Fiscal Year of any Loan Party, or the accounting policies or reporting practices of the Loan Parties,
except as required by GAAP. 
 (b) Change its name as it appears in official filings in the state of its
incorporation or other organization (b) change its chief executive office, principal place of business, corporate offices or warehouses or locations at which Collateral is held or stored, or the location of its records concerning the
Collateral, (c) change the type of entity that it is, (d) change its organization identification number, if any, issued by its state of incorporation or other organization, or (e) change its state of incorporation or organization, in
each case without at least thirty (30) days prior written notice to the Collateral Agent and after the Collateral Agent’s written acknowledgment, which acknowledgment shall not be unreasonably withheld or delayed, that any reasonable
action requested by the Collateral Agent in connection therewith, including to continue the perfection of any Liens in favor of the Collateral Agent, in any Collateral, has been completed or taken, and provided that any such new
location shall be in the continental United States. 
 7.14 Deposit Accounts; Credit Card Processors. Not open new DDAs
or Blocked Accounts unless the Loan Parties shall have delivered to the Collateral Agent appropriate Blocked Account Agreements consistent with the provisions of Section 6.13 and otherwise satisfactory to the Collateral Agent. No Loan
Party shall maintain any bank accounts or enter into any agreements with credit card processors other than the ones expressly contemplated herein or in Section 6.13 hereof. 

7.15 Availability. Permit Availability at any time to be less than the greater of (a) ten percent (10%) of the Loan Cap,
or (b) $12,000,000. 
 ARTICLE VIII. 
 EVENTS OF DEFAULT AND REMEDIES 
 8.01 Events of Default. Any of the
following shall constitute an Event of Default: 
 (a) Non-Payment. The Borrowers or any other Loan Party
fails to pay when and as required to be paid herein, (i) any amount of principal of any Loan or any L/C Obligation, or deposit any funds as Cash Collateral in respect of L/C Obligations, or (ii) any interest on any Loan or on any L/C
Obligation, or any fee due hereunder, or (iii) any other amount payable hereunder or under any other Loan Document within three (3) Business Days after the same becomes due; or 

(b) Specific Covenants. (i) Any Loan Party fails to perform or observe any term, covenant or agreement
contained in any of Sections 6.01, 6.02, 6.03, 6.05, 6.07, 6.10, 6.11, 6.12, 6.13 or 6.14 or Article VII; or (ii) any of the Loan Parties fails to

  
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perform or observe any term, covenant or agreement contained in Section 5.01 of the Security Agreement to which it is a party, or Sections 6.2 or 6.3 of the Pledge Agreement to which it is a
party; or 
 (c) Other Defaults. Any Loan Party fails to perform or observe any other covenant or
agreement (not specified in subsection (a) or (b) above) contained in any Loan Document on its part to be performed or observed and such failure continues for thirty (30) days; or 

(d) Representations and Warranties. Any representation, warranty, certification or statement of fact made or deemed
made by or on behalf of any Borrower or any other Loan Party herein, in any other Loan Document, or in any document delivered in connection herewith or therewith (including, without limitation, any Borrowing Base Certificate) shall be incorrect or
misleading in any material respect when made or deemed made; or 
 (e) Cross-Default. (i) Any Loan
Party or any Subsidiary thereof (A) fails to make any payment when due (whether by scheduled maturity, required prepayment, acceleration, demand, or otherwise) in respect of (1) any Material Indebtedness (other than Indebtedness hereunder
and Indebtedness under Swap Contracts), or (2) any Guarantee having an aggregate principal amount (including undrawn committed or available amounts and including amounts owing to all creditors under any combined or syndicated credit
arrangement) of more than $2,500,000, or (B) fails to observe or perform any other agreement or condition relating to any such Material Indebtedness or Guarantee or contained in any instrument or agreement evidencing, securing or relating
thereto, or any other event occurs, the effect of which default or other event is to cause, or to permit the holder or holders of such Material Indebtedness or the beneficiary or beneficiaries of such Guarantee (or a trustee or agent on behalf of
such holder or holders or beneficiary or beneficiaries) to cause, with the giving of notice if required, such Material Indebtedness to be demanded or to become due or to be repurchased, prepaid, defeased or redeemed (automatically or otherwise), or
an offer to repurchase, prepay, defease or redeem such Material Indebtedness to be made, prior to its stated maturity, or such Guarantee to become payable or cash collateral in respect thereof to be demanded; or (ii) there occurs under any Swap
Contract an Early Termination Date (as defined in such Swap Contract) resulting from (A) any event of default under such Swap Contract as to which a Loan Party or any Subsidiary thereof is the Defaulting Party (as defined in such Swap Contract)
or (B) any Termination Event (as so defined) under such Swap Contract as to which a Loan Party or any Subsidiary thereof is an Affected Party (as so defined) and, in either event, the Swap Termination Value owed by the Loan Party or such
Subsidiary as a result thereof is greater than $2,500,000; or 
 (f) Insolvency Proceedings, Etc. Any Loan
Party or any of its Subsidiaries institutes or consents to the institution of any proceeding under any Debtor Relief Law, or makes an assignment for the benefit of creditors; or applies for or consents to the appointment of any receiver, trustee,
custodian, conservator, liquidator, rehabilitator or similar officer for it or for all or any material part of its property; or a proceeding shall be commenced or a petition filed, without the application or consent of such Person, seeking

  
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or requesting the appointment of any receiver, trustee, custodian, conservator, liquidator, rehabilitator or similar officer is appointed and the appointment continues undischarged, undismissed
or unstayed for sixty (60) calendar days or an order or decree approving or ordering any of the foregoing shall be entered; or any proceeding under any Debtor Relief Law relating to any such Person or to all or any material part of its property
is instituted without the consent of such Person and continues undismissed or unstayed for sixty (60) calendar days, or an order for relief is entered in any such proceeding; or 

(g) Inability to Pay Debts; Attachment. (i) Any Loan Party or any Subsidiary thereof becomes unable or admits
in writing its inability or fails generally to pay its debts as they become due in the ordinary course of business, or (ii) any writ or warrant of attachment or execution or similar process is issued or levied against all or any material part
of the property of any such Person and is not released, vacated or fully bonded within thirty (30) days after its issue or levy; or 
 (h) Judgments. There is entered against any Loan Party or any Subsidiary thereof (i) one or more judgments or orders for the payment of money in an aggregate amount (as to all such judgments
and orders) exceeding $2,500,000 (to the extent not covered by independent third-party insurance as to which the insurer is rated at least “A” by A.M. Best Company, has been notified of the potential claim and does not dispute coverage),
or (ii) any one or more non-monetary judgments that have, or could reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect and, in either case, (A) enforcement proceedings are commenced by any creditor
upon such judgment or order, or (B) there is a period of ten (10) consecutive days during which a stay of enforcement of such judgment or order, by reason of a pending appeal or otherwise, is not in effect; or 

(i) ERISA. (i) An ERISA Event occurs with respect to a Pension Plan or Multiemployer Plan which has resulted
or could reasonably be expected to result in liability of any Loan Party under Title IV of ERISA to the Pension Plan, Multiemployer Plan or the PBGC in an aggregate amount in excess of $2,500,000, or (ii) a Loan Party or any ERISA
Affiliate fails to pay when due, after the expiration of any applicable grace period, any installment payment with respect to its withdrawal liability under Section 4201 of ERISA under a Multiemployer Plan in an aggregate amount in excess of
$2,500,000; or 
 (j) Invalidity of Loan Documents. (i) Any provision of any Loan Document, at any
time after its execution and delivery and for any reason other than as expressly permitted hereunder or thereunder or satisfaction in full of all the Obligations, ceases to be in full force and effect; or any Loan Party or any other Person contests
in any manner the validity or enforceability of any provision of any Loan Document; or any Loan Party denies that it has any or further liability or obligation under any provision of any Loan Document, or purports to revoke, terminate or rescind any
provision of any Loan Document or seeks to avoid, limit or otherwise adversely affect any Lien purported to be created under any Security Document; or (ii) any Lien purported to be created under any Security Document shall cease to be, or shall
be asserted by any Loan Party or any other 

  
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Person not to be, a valid and perfected Lien on any Collateral, with the priority required by the applicable Security Document; or 

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

(l) Cessation of Business. Except as otherwise expressly permitted hereunder, any Loan Party shall take any action
to suspend the operation of its business in the ordinary course, liquidate all or a material portion of its assets or Store locations, or employ an agent or other third party to conduct a program of closings, liquidations or
“Going-Out-Of-Business” sales of any material portion of its business; or 
 (m) Loss of
Collateral. There occurs any uninsured loss to the Collateral that has had, or could reasonably be expected to have, a Material Adverse Effect; or 
 (n) Breach of Contractual Obligation. Any Loan Party or any Subsidiary thereof fails to make any payment when due (whether by scheduled maturity, required prepayment, acceleration, demand, or
otherwise) in respect of any Material Contract or fails to observe or perform any other agreement or condition relating to any such Material Contract or contained in any instrument or agreement evidencing, securing or relating thereto, or any other
event occurs, the effect of which default or other event is to cause, or to permit the counterparty to such Material Contract to terminate such Material Contract; or 

(o) Indictment. The indictment or institution of any legal process or proceeding against, any Loan Party or any
Subsidiary thereof, under any federal, state, municipal, and other criminal statute, rule, regulation, order, or other requirement having the force of law for a felony and such indictment remains unquashed or such legal process remains undismissed
for a period of sixty (60) days or more; or 
 (p) Guaranty. The termination or attempted termination
of any Facility Guaranty; or 
 (q) Subordination. (i) The subordination provisions of the documents
evidencing or governing any Subordinated Indebtedness that is Material Indebtedness (the “Subordination Provisions”) shall, in whole or in part, terminate, cease to be effective or cease to be legally valid, binding and enforceable
against any holder of the applicable Subordinated Indebtedness; or (ii) any Borrower or any other Loan Party shall, directly or indirectly, disavow or contest in any manner (A) the effectiveness, validity or enforceability of any of the
Subordination Provisions, (B) that the Subordination Provisions exist for the benefit of the Credit Parties, or (C) that all payments of principal of or premium and interest on the applicable Subordinated Indebtedness, or realized from the
liquidation of any property of any Loan Party, shall be subject to any of the Subordination Provisions. 
 8.02 Remedies Upon
Event of Default. If any Event of Default occurs and is continuing, the Administrative Agent may, or, at the request of the Required Lenders, shall, take any or all of the following actions: 

  
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 (a) declare the commitment of each Revolving Lender to make Revolving Loans
and any obligation of the L/C Issuer to make L/C Credit Extensions to be terminated, whereupon such commitments and obligation shall be terminated; 
 (b) declare the unpaid principal amount of all outstanding Loans, all interest accrued and unpaid thereon, and all other amounts owing or payable hereunder or under any other Loan Document to be
immediately due and payable, without presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived by the Loan Parties; 
 (c) require that the Loan Parties Cash Collateralize the L/C Obligations; and 
 (d) whether or not the maturity of the Obligations shall have been accelerated pursuant hereto, may (and at the direction of the Required Lenders, shall) proceed to protect, enforce and exercise all
rights and remedies of the Credit Parties under this Agreement, any of the other Loan Documents or applicable Law, including, but not limited to, by suit in equity, action at law or other appropriate proceeding, whether for the specific performance
of any covenant or agreement contained in this Agreement and the other Loan Documents or any instrument pursuant to which the Obligations are evidenced, and, if such amount shall have become due, by declaration or otherwise, proceed to enforce the
payment thereof or any other legal or equitable right of the Credit Parties; 
 provided, however, that upon the occurrence of any
event of the type described in Section 8.01(f), the obligation of each Revolving Lender to make Revolving Loans and any obligation of the L/C Issuer to make L/C Credit Extensions shall automatically terminate, the unpaid principal amount
of all outstanding Loans and all interest and other amounts as aforesaid shall automatically become due and payable, and the obligation of the Loan Parties to Cash Collateralize the L/C Obligations as aforesaid shall automatically become effective,
in each case without further act of the Administrative Agent or any Lender. 
 No remedy herein is intended to be exclusive of
any other remedy and each and every remedy shall be cumulative and shall be in addition to every other remedy given hereunder or now or hereafter existing at law or in equity or by statute or any other provision of Law. 

8.03 Application of Funds. After the exercise of remedies provided for in Section 8.02 (or after the Loans have
automatically become immediately due and payable and the L/C Obligations have automatically been required to be Cash Collateralized as set forth in the proviso to Section 8.02), any amounts received on account of the Obligations shall be
applied by the Administrative Agent in the following order: 
 First, to payment of that portion of the
Obligations (excluding the Other Liabilities) constituting fees, indemnities, Credit Party Expenses and other amounts (including fees, charges and disbursements of counsel to the Administrative Agent and the Collateral Agent and amounts payable
under Article III) payable to the Administrative Agent and the Collateral Agent, each in its capacity as such; 

  
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 Second, to payment of that portion of the Obligations (excluding the
Other Liabilities) constituting indemnities, Credit Party Expenses, and other amounts (other than principal, interest and fees) payable to the Lenders and the L/C Issuer (including fees, charges and disbursements of counsel to the respective Lenders
and the L/C Issuer and amounts payable under Article III), ratably among them in proportion to the amounts described in this clause Second payable to them; 

Third, to payment to the Administrative Agent and the Lenders of that portion of the Obligations constituting
principal and accrued and unpaid interest on any Permitted Overadvances, ratably among the Administrative Agent and the Lenders in proportion to the amounts described in this clause Third payable to them; 

Fourth, to the extent that Swing Line Loans have not been refinanced by a Revolving Loan, payment to the Swing Line
Lender of that portion of the Obligations constituting accrued and unpaid interest and unpaid principal on the Swing Line Loans; 
 Fifth, to payment of that portion of the Obligations constituting accrued and unpaid interest on the Loans, L/C Borrowings and other Obligations, and fees (including Letter of Credit Fees), ratably
among the Lenders and the L/C Issuer in proportion to the respective amounts described in this clause Fifth payable to them; 
 Sixth, to payment of that portion of the Obligations constituting unpaid principal of the Loans and L/C Borrowings, ratably among the Lenders and the L/C Issuer in proportion to the respective
amounts described in this clause Sixth held by them; 
 Seventh, to the Administrative Agent for
the account of the L/C Issuer, to Cash Collateralize that portion of L/C Obligations comprised of the aggregate undrawn amount of Letters of Credit; 
 Eighth, to payment of all other Obligations (including, without limitation, the cash collateralization of unliquidated indemnification obligations as provided in Section 10.04, but
excluding any Other Liabilities), ratably among the Credit Parties in proportion to the respective amounts described in this clause Eighth held by them 
 Ninth, to payment of that portion of the Obligations arising from Cash Management Services to the extent secured under the Security Documents, ratably among the Credit Parties in proportion to the
respective amounts described in this clause Ninth held by them; 
 Tenth, to payment of all other
Obligations arising from Bank Products to the extent secured under the Security Documents, ratably among the Credit Parties in proportion to the respective amounts described in this clause Tenth held by them; and 

Last, the balance, if any, after all of the Obligations have been indefeasibly paid in full, to the Loan Parties or
as otherwise required by Law. 
 Subject to Section 2.03(c), amounts used to Cash Collateralize the aggregate undrawn amount of
Letters of Credit pursuant to clause Seventh above shall be applied to satisfy drawings under 

  
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such Letters of Credit as they occur. If any amount remains on deposit as Cash Collateral after all Letters of Credit have either been fully drawn or expired, such remaining amount shall be
applied to the other Obligations, if any, in the order set forth above. 
 ARTICLE IX. 

ADMINISTRATIVE AGENT 
 9.01 Appointment and Authority.  
 (a) Each of the
Lenders and the L/C Issuer hereby irrevocably appoints Bank of America to act on its behalf as the Administrative Agent hereunder and under the other Loan Documents and authorizes the Administrative Agent to take such actions on its behalf and to
exercise such powers as are delegated to the Administrative Agent by the terms hereof or thereof, together with such actions and powers as are reasonably incidental thereto. The provisions of this Article IX are solely for the benefit of the
Administrative Agent, the Lenders and the L/C Issuer, and no Loan Party or any Subsidiary thereof shall have rights as a third party beneficiary of any of such provisions. 

(b) Each of the Lenders (in its capacities as a Lender), Swing Line Lender and the L/C Issuer hereby irrevocably appoints
Bank of America as Collateral Agent and authorizes the Collateral Agent to act as the agent of such Lender and the L/C Issuer for purposes of acquiring, holding and enforcing any and all Liens on Collateral granted by any of the Loan Parties to
secure any of the Obligations, together with such powers and discretion as are reasonably incidental thereto. In this connection, the Collateral Agent, as “collateral agent” and any co-agents, sub-agents and attorneys-in-fact appointed by
the Collateral Agent pursuant to Section 9.05 for purposes of holding or enforcing any Lien on the Collateral (or any portion thereof) granted under the Collateral Documents, or for exercising any rights and remedies thereunder at the
direction of the Collateral Agent), shall be entitled to the benefits of all provisions of this Article IX and Article X (including Section 10.04(c)), as though such co-agents, sub-agents and attorneys-in-fact were the
“collateral agent” under the Loan Documents, as if set forth in full herein with respect thereto. 
 9.02 Rights as
a Lender. The Persons serving as the Agents hereunder shall have the same rights and powers in their capacity as a Lender as any other Lender and may exercise the same as though they were not the Administrative Agent or the Collateral
Agent and the term “Lender” or “Lenders” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent or 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 the Loan Parties or any Subsidiary or
other Affiliate thereof as if such Person were not the Administrative Agent or the Collateral Agent hereunder and without any duty to account therefor to the Lenders. 
 9.03 Exculpatory Provisions. The Agents shall not have any duties or obligations except those expressly set forth herein and in the other Loan Documents. Without limiting the generality of
the foregoing, the Agents: 

  
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 (a) shall not be subject to any fiduciary or other implied duties,
regardless of whether a Default has occurred and is continuing; 
 (b) shall not have any duty to take any
discretionary action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby or by the other Loan Documents that the Administrative Agent or the Collateral Agent, as applicable, is required to
exercise as directed in writing by the Required Lenders (or such other number or percentage of the Lenders as shall be expressly provided for herein or in the other Loan Documents), provided that no Agent shall be required to take any action
that, in its respective opinion or the opinion of its counsel, may expose such Agent to liability or that is contrary to any Loan Document or applicable law; and 

(c) shall not, except as expressly set forth herein and in the other Loan Documents, have any duty to disclose, and shall
not be liable for the failure to disclose, any information relating to the Loan Parties or any of its Affiliates that is communicated to or obtained by the Person serving as the Administrative Agent, the Collateral Agent or any of its Affiliates in
any capacity. 
 No Agent shall be liable for any action taken or not taken by it (i) with the Consent or at the request of the Required
Lenders (or such other number or percentage of the Lenders as shall be necessary, or as such Agent shall believe in good faith shall be necessary, under the circumstances as provided in Sections 10.01 and 8.02) or (ii) in the
absence of its own gross negligence or willful misconduct, as determined by a final and non-appealable judgment of a court of competent jurisdiction. The Agents shall not be deemed to have knowledge of any Default unless and until notice describing
such Default is given to such Agent by the Loan Parties, a Lender or the L/C Issuer. 
 The Agents shall not be responsible for,
or have any duty to ascertain or inquire into, (i) any statement, warranty or representation made in or in connection with this Agreement or any other Loan Document, (ii) the contents of any certificate, report or other document delivered
hereunder or thereunder or in connection herewith or therewith, (iii) the performance or observance of any of the covenants, agreements or other terms or conditions set forth herein or therein or the occurrence of any Default, (iv) the
validity, enforceability, effectiveness or genuineness of this Agreement, any other Loan Document or any other agreement, instrument or document or 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, or (vi) the satisfaction of any condition set forth in Article IV or elsewhere herein, other than to confirm receipt of items expressly required to be delivered to the Agents.

 9.04 Reliance by Agents. Each 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, but not limited to, 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. Each Agent also may rely upon any statement made to it orally or by telephone and believed by it to have been made by the proper Person, and shall not incur any liability for
relying thereon. In determining compliance 

  
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with any condition hereunder to the making of a Loan, or the issuance of a Letter of Credit, that by its terms must be fulfilled to the satisfaction of a Lender or the L/C Issuer, the
Administrative Agent may presume that such condition is satisfactory to such Lender or the L/C Issuer unless the Administrative Agent shall have received written notice to the contrary from such Lender or the L/C Issuer prior to the making of such
Loan or the issuance of such Letter of Credit. Each Agent may consult with legal counsel (who may be counsel for any Loan Party), independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by
it in accordance with the advice of any such counsel, accountants or experts. 
 9.05 Delegation of Duties. Each
Agent may perform any and all of its duties and exercise its rights and powers hereunder or under any other Loan Document by or through any one or more sub-agents appointed by such Agent. Each Agent and any such sub-agent may perform any and all of
its duties and exercise its rights and powers by or through their respective Related Parties. The exculpatory provisions of this Article shall apply to any such sub-agent and to the Related Parties of the Agents and any such sub-agent, and shall
apply to their respective activities in connection with the syndication of the credit facilities provided for herein as well as activities as such Agent. 
 9.06 Resignation of Agents. Either Agent may at any time give written notice of its resignation to the Lenders, the L/C Issuer and the Lead Borrower. Upon receipt of any such notice of
resignation, the Required Lenders shall have the right, in consultation with the Lead Borrower, to appoint a successor, which shall be a bank with an office in the United States, or an Affiliate of any such bank with an office in the United States.
If no such successor shall have been so appointed by the Required Lenders and shall have accepted such appointment within 30 days after the retiring Agent gives notice of its resignation, then the retiring Agent may on behalf of the Lenders and the
L/C Issuer, appoint a successor Administrative Agent or Collateral Agent, as applicable, meeting the qualifications set forth above; provided that if the Administrative Agent or the Collateral Agent shall notify the Lead Borrower and the
Lenders that no qualifying Person has accepted such appointment, then such resignation shall nonetheless become effective in accordance with such notice and (1) the retiring Agent shall be discharged from its duties and obligations hereunder
and under the other Loan Documents (except that in the case of any Collateral held by the Collateral Agent on behalf of the Lenders or the L/C Issuer under any of the Loan Documents, the retiring Collateral Agent shall continue to hold such
collateral security until such time as a successor Collateral Agent is appointed) and (2) all payments, communications and determinations provided to be made by, to or through the Administrative Agent shall instead be made by or to each Lender
and the L/C Issuer directly, until such time as the Required Lenders appoint a successor Administrative Agent as provided for above in this Section 9.06. Upon the acceptance of a successor’s appointment as Administrative Agent or
Collateral Agent, as applicable, hereunder, such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring (or retired) Agent, and the retiring Agent shall be discharged from all of its duties
and obligations hereunder or under the other Loan Documents (if not already discharged therefrom as provided above in this Section 9.06). The fees payable by the Borrowers to a successor Administrative Agent shall be the same as those
payable to its predecessor unless otherwise agreed between the Lead Borrower and such successor. After the retiring Agent’s resignation hereunder and under the other Loan Documents, the provisions of this Article IX and
Section 10.04 shall continue in effect for the benefit of such retiring Agent, its sub-agents and their respective Related Parties in respect of 

  
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any actions taken or omitted to be taken by any of them while the retiring Agent was acting as Administrative Agent or Collateral Agent hereunder. 

Any resignation by Bank of America as Administrative Agent pursuant to this Section 9.06 shall also constitute its
resignation as L/C Issuer and Swing Line Lender. Upon the acceptance of a successor’s appointment as Administrative Agent hereunder, (a) such successor shall succeed to and become vested with all of the rights, powers, privileges and
duties of the retiring L/C Issuer and Swing Line Lender, (b) the retiring L/C Issuer and Swing Line Lender shall be discharged from all of their respective duties and obligations hereunder or under the other Loan Documents, and (c) the
successor L/C Issuer shall issue letters of credit in substitution for the Letters of Credit, if any, outstanding at the time of such succession or make other arrangements satisfactory to the retiring L/C Issuer to effectively assume the obligations
of the retiring L/C Issuer with respect to such Letters of Credit. 
 9.07 Non-Reliance on Administrative Agent and Other
Lenders. Each Lender and the L/C Issuer acknowledges that it has, independently and without reliance upon the Agents or any other Lender or any of their Related Parties and based on such documents and information as it has deemed
appropriate, made its own credit analysis and decision to enter into this Agreement. Each Lender and the L/C Issuer also acknowledges that it will, independently and without reliance upon the Agents or any other Lender or any of their Related
Parties and based on such documents and information as it shall from time to time deem appropriate, continue to make its own decisions in taking or not taking action under or based upon this Agreement, any other Loan Document or any related
agreement or any document furnished hereunder or thereunder. Except as provided in Section 9.12, the Agents shall not have any duty or responsibility to provide any Credit Party with any other credit or other information concerning the
affairs, financial condition or business of any Loan Party that may come into the possession of the Agents. 
 9.08 No Other
Duties, Etc. Anything herein to the contrary notwithstanding, neither the Book Manager, the Syndication Agent, nor the Arranger listed on the cover page hereof shall have any powers, duties or responsibilities under this Agreement or any
of the other Loan Documents, except in its capacity, as applicable, as the Administrative Agent, Collateral Agent, a Lender or the L/C Issuer hereunder. 
 9.09 Administrative Agent May File Proofs of Claim. In case of the pendency of any proceeding under any Debtor Relief Law or any other judicial proceeding relative to any Loan Party, the
Administrative Agent (irrespective of whether the principal of any Loan or L/C Obligation shall then be due and payable as herein expressed or by declaration or otherwise and irrespective of whether the Administrative Agent shall have made any
demand on the Loan Parties) shall be entitled and empowered, by intervention in such proceeding or otherwise 

(a) to file and prove a claim for the whole amount of the principal and interest owing and unpaid in respect of the Loans,
L/C Obligations and all other Obligations that are owing and unpaid and to file such other documents as may be necessary or advisable in order to have the claims of the Lenders, the L/C Issuer, the Administrative Agent and the other Credit Parties
(including any claim for the reasonable compensation, expenses, disbursements and advances of the Lenders, the L/C Issuer, the Administrative Agent, such Credit Parties and their respective agents and counsel and all other amounts due the

  
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Lenders, the L/C Issuer the Administrative Agent and such Credit Parties under Sections 2.03(i), 2.03(j), 2.09 and 10.04) allowed in such judicial proceeding; and 

(b) to collect and receive any monies or other property payable or deliverable on any such claims and to distribute the
same; 
 and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is
hereby authorized by each Lender and the L/C Issuer to make such payments to the Administrative Agent and, if the Administrative Agent shall consent to the making of such payments directly to the Lenders and the L/C Issuer, to pay to the
Administrative Agent any amount due for the reasonable compensation, expenses, disbursements and advances of the Administrative Agent and its agents and counsel, and any other amounts due the Administrative Agent under Sections 2.09 and
10.04. 
 Nothing contained herein shall be deemed to authorize the Administrative Agent to authorize or consent to or
accept or adopt on behalf of any Lender or the L/C Issuer any plan of reorganization, arrangement, adjustment or composition affecting the Obligations or the rights of any Lender or the L/C Issuer or to authorize the Administrative Agent to vote in
respect of the claim of any Lender or the L/C Issuer in any such proceeding. 
 9.10 Collateral and Guaranty Matters.
The Credit Parties irrevocably authorize the Agents, at their option and in their discretion, 
 (a) to
release any Lien on any property granted to or held by the Collateral Agent under any Loan Document (i) upon termination of the Aggregate Revolving Commitments and payment in full of all Obligations (other than contingent indemnification
obligations for which no claim has been asserted) and the expiration or termination of all Letters of Credit, (ii) that is sold or to be sold as part of or in connection with any sale permitted hereunder or under any other Loan Document, or
(iii) if approved, authorized or ratified in writing by the Required Lenders in accordance with Section 10.01; 
 (b) to subordinate any Lien on any property granted to or held by the Collateral Agent under any Loan Document to the holder of any Lien on such property that is permitted by clause (h) of the
definition of Permitted Encumbrances; and 
 (c) to release any Guarantor from its obligations under any Facility
Guaranty if such Person ceases to be a Subsidiary as a result of a transaction permitted hereunder. 
 Upon request by any Agent at any time,
the Required Lenders will confirm in writing such Agent’s authority to release or subordinate its interest in particular types or items of property, or to release any Guarantor from its obligations under the Facility Guaranty pursuant to this
Section 9.10. In each case as specified in this Section 9.10, the Agents will, at the Loan Parties’ expense, execute and deliver to the applicable Loan Party such documents as such Loan Party may reasonably request to
evidence the release of such item of Collateral from the assignment and security interest granted under the Security Documents or to subordinate its interest in such item, or to release such Guarantor from its obligations under the Facility
Guaranty, in each case in accordance with the terms of the Loan Documents and this Section 9.10. 

  
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 9.11 Notice of Transfer. The Agents may deem and treat a Lender party to this
Agreement as the owner of such Lender’s portion of the Obligations for all purposes, unless and until, and except to the extent, an Assignment and Acceptance shall have become effective as set forth in Section 10.06. 

9.12 Reports and Financial Statements. By signing this Agreement, each Lender: 

(a) agrees to furnish the Administrative Agent on the first day of each month with a summary of all Other Liabilities due
or to become due to such Lender; 
 (b) is deemed to have requested that the Administrative Agent furnish such
Lender, promptly after they become available, copies of all financial statements required to be delivered by the Lead Borrower hereunder and all commercial finance examinations and appraisals of the Collateral received by the Agents (collectively,
the “Reports”); 
 (c) expressly agrees and acknowledges that the Administrative Agent makes no
representation or warranty as to the accuracy of the Reports, and shall not be liable for any information contained in any Report; 
 (d) expressly agrees and acknowledges that the Reports are not comprehensive audits or examinations, that the Agents or any other party performing any audit or examination will inspect only specific
information regarding the Loan Parties and will rely significantly upon the Loan Parties’ books and records, as well as on representations of the Loan Parties’ personnel; 

(e) agrees to keep all Reports confidential in accordance with the provisions of Section 10.07 hereof; and

 (f) without limiting the generality of any other indemnification provision contained in this Agreement,
agrees: (i) to hold the Agents and any such other Lender preparing a Report harmless from any action the indemnifying Lender may take or conclusion the indemnifying Lender may reach or draw from any Report in connection with any Credit
Extensions that the indemnifying Lender has made or may make to the Borrowers, or the indemnifying Lender’s participation in, or the indemnifying Lender’s purchase of, a Loan or Loans; and (ii) to pay and protect, and indemnify,
defend, and hold the Agents and any such other Lender preparing a Report harmless from and against, the claims, actions, proceedings, damages, costs, expenses, and other amounts (including attorney costs) incurred by the Agents and any such other
Lender preparing a Report as the direct or indirect result of any third parties who might obtain all or part of any Report through the indemnifying Lender. 
 9.13 Agency for Perfection. Each Lender hereby appoints each other Lender as agent for the purpose of perfecting Liens for the benefit of the Agents and the Lenders, in assets which, in accordance
with Article 9 of the UCC or any other Applicable Law of the United States can be perfected only by possession. Should any Lender (other than the Agents) obtain possession of any such Collateral, such Lender shall notify the Agents thereof, and,
promptly upon the Collateral Agent’s request therefor shall deliver such Collateral to the Collateral Agent or otherwise deal with such Collateral in accordance with the Collateral Agent’s instructions. 

  
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 9.14 Indemnification of Agents. The Lenders agree to indemnify the Agents (to the
extent not reimbursed by the Loan Parties and without limiting the obligations of Loan Parties hereunder), ratably according to their respective pro rata shares, from and against any and all liabilities, obligations, losses, damages, penalties,
actions, judgments, suits, costs, expenses or disbursements of any kind or nature whatsoever that may be imposed on, incurred by, or asserted against any Agent in any way relating to or arising out of this Agreement or any other Loan Document or any
action taken or omitted to be taken by any Agent in connection therewith; provided, that no Lender shall be liable for any portion of such liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or
disbursements resulting from such Agent’s gross negligence or willful misconduct as determined by a final and nonappealable judgment of a court of competent jurisdiction. 
 9.15 Relation among Lenders. The Lenders are not partners or co-venturers, and no Lender shall be liable for the acts or omissions of, or (except as otherwise set forth herein in case of the
Agents) authorized to act for, any other Lender. 
 9.16 Defaulting Lenders 

(a) If for any reason any Lender shall become a Defaulting Lender, then, in addition to the rights and remedies that may
be available to the other Credit Parties, the Loan Parties or any other party at law or in equity, and not at limitation thereof, (i) such Defaulting Lender’s right to participate in the administration of, or decision-making rights related
to, the Obligations, this Agreement or the other Loan Documents shall be suspended during the pendency of such failure or refusal, and (ii) a Defaulting Lender shall be deemed to have assigned any and all payments due to it from the Loan
Parties, whether on account of outstanding Loans, interest, fees or otherwise, to the remaining non-Defaulting Lenders for application to, and reduction of, their proportionate shares of all outstanding Obligations until, as a result of application
of such assigned payments the Lenders’ respective Applicable Percentages of all outstanding Obligations shall have returned to those in effect immediately prior to such delinquency and without giving effect to the nonpayment causing such
delinquency, and (iii) at the option of the Administrative Agent, any amount payable to such Defaulting Lender hereunder (whether on account of principal, interest, fees or otherwise) shall, in lieu of being distributed to such Defaulting
Lender, be retained by the Administrative Agent as cash collateral for future funding obligations of the Defaulting Lender in respect of any Loan or existing or future participating interest in any Swing Line Loan or Letter of Credit (to the extent
such Defaulting Lender is a Revolving Lender). The Defaulting Lender’s decision-making and participation rights and rights to payments as set forth in clauses (i) and (ii) hereinabove shall be restored only upon the payment by the
Defaulting Lender of its Applicable Percentage of any Obligations, any participation obligation, or expenses as to which it is delinquent, together with interest thereon at the rate set forth in Section 2.13(c) hereof from the date when
originally due until the date upon which any such amounts are actually paid. 
 (b) To the extent the Defaulting
Lender is a Revolving Lender, the non-Defaulting Lenders shall also have the right, but not the obligation, in their respective, sole and absolute discretion, to cause the termination and assignment, without any further

  
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action by the Defaulting Lender for no cash consideration (pro rata, based on the respective Revolving Commitments of those Lenders electing to exercise such right), of the
Defaulting Lender’s Revolving Commitment to fund future Revolving Loans. Upon any such purchase of the Revolving Applicable Percentage of any such Defaulting Lender, such Defaulting Lender’s share in future Credit Extensions and its rights
under the Loan Documents with respect thereto shall terminate on the date of purchase, and such Defaulting Lender shall promptly execute all documents reasonably requested to surrender and transfer such interest, including, if so requested, an
Assignment and Acceptance. 
 (c) Each Defaulting Lender shall indemnify the Administrative Agent and each
non-Defaulting Lender from and against any and all loss, damage or expenses, including but not limited to reasonable attorneys’ fees and funds advanced by the Administrative Agent or by any non-Defaulting Lender, on account of a Defaulting
Lender’s failure to timely fund its Revolving Applicable Percentage of a Revolving Loan or to otherwise perform its obligations under the Loan Documents. 
 ARTICLE X. 
 MISCELLANEOUS 

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

(a) extend, or increase, the Commitment of any Lender (or reinstate any Commitment terminated pursuant to
Section 8.02) without the written Consent of such Lender; 
 (b) postpone any date fixed by this
Agreement or any other Loan Document for (i) any payment or mandatory prepayment of principal, interest, fees or other amounts due to the Lenders (or any of them) hereunder or under any of the other Loan Documents without the written Consent of
each Lender entitled to such payment, or (ii) any scheduled or mandatory reduction of the Aggregate Revolving Commitments hereunder or under any other Loan Document without the written Consent of each Lender; 

(c) reduce the principal of, or the rate of interest specified herein on, any Loan or L/C Borrowing, or (subject to clause
(iv) of the second proviso to this Section 10.01) any fees or other amounts payable hereunder or under any other Loan Document, without the written Consent of each Lender entitled to such amount; provided, however,
that only the Consent of the Required Lenders shall be necessary (i) to amend the definition of “Default Rate” or to waive any obligation of the Borrowers to pay interest or Letter of Credit Fees at the Default Rate; 

  
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 (d) change Section 2.13 or Section 8.03 in a manner
that would alter the pro rata sharing of payments required thereby without the written Consent of each Lender; 

(e) change any provision of this Section 10.01 or the definition of “Required Lenders” or any other
provision hereof specifying the number or percentage of Lenders required to amend, waive or otherwise modify any rights hereunder or make any determination or grant any consent hereunder, without the written Consent of each Lender; 

(f) except as expressly permitted hereunder or under any other Loan Document, release, or limit the liability of, any Loan
Party without the written Consent of each Lender; 
 (g) except for Permitted Dispositions, release all or
substantially all of the Collateral from the Liens of the Security Documents without the written Consent of each Lender; 
 (h) except as provided in Section 2.05(d) and Section 2.15, increase the Aggregate Revolving Commitments without the written Consent of each Lender; 

(i) change the definition of the terms “Availability” or “Borrowing Base” or any component definition
thereof if, as a result thereof, the amounts available to be borrowed by the Borrowers would be increased without the written Consent of each Lender, provided that the foregoing shall not limit the discretion of the Administrative Agent to
change, establish or eliminate any Reserves; 
 (j) modify the definition of Permitted Overadvance so as to
increase the amount thereof or, except as provided in such definition, the time period for a Permitted Overadvance without the written Consent of each Lender; 
 (k) except as expressly permitted herein or in any other Loan Document, subordinate the Obligations hereunder or the Liens granted hereunder or under the other Loan Documents, to any other Indebtedness or
Lien, as the case may be without the written Consent of each Lender; 
 and, provided further, that (i) no amendment, waiver
or Consent shall, unless in writing and signed by the L/C Issuer in addition to the Lenders required above, affect the rights or duties of the L/C Issuer under this Agreement or any Issuer Document relating to any Letter of Credit issued or to be
issued by it; (ii) no amendment, waiver or Consent shall, unless in writing and signed by the Swing Line Lender in addition to the Lenders required above, affect the rights or duties of the Swing Line Lender under this Agreement; (iii) no
amendment, waiver or Consent shall, unless in writing and signed by the Administrative Agent in addition to the Lenders required above, affect the rights or duties of the Administrative Agent under this Agreement or any other Loan Document;
(iv) no amendment, waiver or Consent shall, unless in writing and signed by the Collateral Agent in addition to the Lenders required above, affect the rights or duties of the Collateral Agent under this Agreement or any other Loan Document; and
(v) the Fee Letter may be amended, or rights or privileges thereunder waived, in a writing executed only by the parties thereto. Notwithstanding anything to the contrary herein, no Defaulting Lender

  
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shall have any right to approve or disapprove any amendment, waiver or Consent hereunder, except that the Commitment of such Lender may not be increased or extended without the consent of such
Lender. 
 If any Lender does not Consent (a “Non-Consenting Lender”) to a proposed amendment, waiver, consent
or release with respect to any Loan Document that requires the Consent of each Lender and that has been approved by the Required Lenders, the Lead Borrower may replace such Non-Consenting Lender in accordance with Section 10.13;
provided that such amendment, waiver, consent or release can be effected as a result of the assignment contemplated by such Section (together with all other such assignments required by the Lead Borrower to be made pursuant to this
paragraph). 
 10.02 Notices; Effectiveness; Electronic Communications.  

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

(i) if to the Loan Parties, the Agents, the L/C Issuer or the Swing Line Lender, to the address, telecopier number,
electronic mail address or telephone number specified for such Person on Schedule 10.02; and 
 (ii) if to
any other Lender, to the address, telecopier number, electronic mail address or telephone number specified in its Administrative Questionnaire. 

Notices sent by hand or overnight courier service, or mailed by certified or registered mail, shall be deemed to have been given when received; notices
sent by telecopier shall be deemed to have been given when sent (except that, if not given during normal business hours for the recipient, shall be deemed to have been given at the opening of business on the next Business Day for the recipient).
Notices delivered through electronic communications to the extent provided in subsection (b) below, shall be effective as provided in such subsection (b). 
 (b) Electronic Communications. Notices and other communications to the Lenders and the L/C Issuer hereunder may be delivered or furnished by electronic communication (including e-mail and Internet
or intranet websites) pursuant to procedures approved by the Administrative Agent, provided that the foregoing shall not apply to notices to any Lender or the L/C Issuer pursuant to Article II if such Lender or the L/C Issuer,
as applicable, has notified the Administrative Agent that it is incapable of receiving notices under such Article by electronic communication. The Administrative Agent or the Lead Borrower may, in its discretion, agree to accept notices and other
communications to it hereunder by electronic communications pursuant to procedures approved by it, provided that approval of such procedures may be limited to particular notices or communications. 

  
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 Unless the Administrative Agent otherwise prescribes, (i) notices and other
communications sent to an e-mail address shall be deemed received upon the sender’s receipt of an acknowledgement from the intended recipient (such as by the “return receipt requested” function, as available, return e-mail or other
written acknowledgement), provided that if such notice or other communication is not sent during the normal business hours of the recipient, such notice or communication shall be deemed to have been sent at the opening of business on the next
Business Day for the recipient, and (ii) notices or communications posted to an Internet or intranet website shall be deemed received upon the deemed receipt by the intended recipient at its e-mail address as described in the foregoing
clause (i) of notification that such notice or communication is available and identifying the website address therefor. 
 (c) The Platform. THE PLATFORM IS PROVIDED “AS IS” AND “AS AVAILABLE.” THE AGENT PARTIES (AS DEFINED BELOW) DO NOT WARRANT THE ACCURACY OR COMPLETENESS OF THE BORROWER MATERIALS
OR THE ADEQUACY OF THE PLATFORM, AND EXPRESSLY DISCLAIM LIABILITY FOR ERRORS IN OR OMISSIONS FROM THE BORROWER MATERIALS. NO WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY, INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR
PURPOSE, NON-INFRINGEMENT OF THIRD PARTY RIGHTS OR FREEDOM FROM VIRUSES OR OTHER CODE DEFECTS, IS MADE BY ANY AGENT PARTY IN CONNECTION WITH THE BORROWER MATERIALS OR THE PLATFORM. In no event shall the Agents or any of their Related Parties
(collectively, the “Agent Parties”) have any liability to any Loan Party, any Lender, the L/C Issuer or any other Person for losses, claims, damages, liabilities or expenses of any kind (whether in tort, contract or otherwise)
arising out of the Loan Parties’ or the Administrative Agent’s transmission of Borrower Materials through the Internet, except to the extent that such losses, claims, damages, liabilities or expenses are determined by a court of competent
jurisdiction by a final and nonappealable judgment to have resulted from the gross negligence or willful misconduct of such Agent Party; provided, however, that in no event shall any Agent Party have any liability to any Loan Party,
any Lender, the L/C Issuer or any other Person for indirect, special, incidental, consequential or punitive damages (as opposed to direct or actual damages). 
 (d) Change of Address, Etc. Each of the Loan Parties, the Agents, the L/C Issuer and the Swing Line Lender may change its address, telecopier or telephone number for notices and other
communications hereunder by notice to the other parties hereto. Each other Lender may change its address, telecopier or telephone number for notices and other communications hereunder by notice to the Lead Borrower, the Agents, the L/C Issuer and
the Swing Line Lender. In addition, each Lender agrees to notify the Administrative Agent from time to time to ensure that the Administrative Agent has on record (i) an effective address, contact name, telephone number, telecopier number and
electronic mail address to which notices and other communications may be sent and (ii) accurate wire instructions for such Lender. 
 (e) Reliance by Agents, L/C Issuer and Lenders. The Agents, the L/C Issuer and the Lenders shall be entitled to rely and act upon any notices (including telephonic Revolving Loan Notices and Swing
Line Loan Notices) purportedly given by or on 

  
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behalf of the Loan Parties even if (i) such notices were not made in a manner specified herein, were incomplete or were not preceded or followed by any other form of notice specified herein,
or (ii) the terms thereof, as understood by the recipient, varied from any confirmation thereof. The Loan Parties shall indemnify the Agents, the L/C Issuer, each Lender and the Related Parties of each of them from all losses, costs, expenses
and liabilities resulting from the reliance by such Person on each notice purportedly given by or on behalf of the Loan Parties. All telephonic notices to and other telephonic communications with the Agents may be recorded by the Agents, and each of
the parties hereto hereby consents to such recording. 
 10.03 No Waiver; Cumulative Remedies. No failure by any Credit
Party to exercise, and no delay by any such Person in exercising, any right, remedy, power or privilege hereunder shall operate as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder or under
any other Loan Document preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege. The rights, remedies, powers and privileges provided herein and in the other Loan Documents are cumulative and not
exclusive of any rights, remedies, powers and privileges provided by law. Without limiting the generality of the foregoing, the making of a Loan or issuance of a Letter of Credit shall not be construed as a waiver of any Default, regardless of
whether any Credit Party may have had notice or knowledge of such Default at the time. 
 10.04 Expenses; Indemnity; Damage
Waiver.  
 (a) Costs and Expenses. The Borrowers shall pay all Credit Party Expenses.

 (b) Indemnification by the Loan Parties. The Loan Parties shall indemnify the Agents (and any sub-agent
thereof), each other Credit Party, and each Related Party of any of the foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and all losses, claims, damages,
liabilities and related expenses (including the fees, charges and disbursements of any counsel for any Indemnitee), incurred by any Indemnitee or asserted against any Indemnitee by any third party or by the Borrowers or any other Loan Party arising
out of, in connection with, or as a result of (i) the execution or delivery of this Agreement, any other Loan Document or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective
obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, or, in the case of the Agents (and any sub-agents thereof) and their Related Parties only, the administration of this Agreement and the other
Loan Documents, (ii) any Loan or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by the L/C Issuer to honor a demand for payment under a Letter of Credit if the documents presented in connection with
such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by any Loan Party or any of its Subsidiaries, or any
Environmental Liability related in any way to any Loan Party or any of its Subsidiaries, (iv) any claims of, or amounts paid by any Credit Party to, a Blocked Account Bank or other Person which has entered into a control agreement with any
Credit Party hereunder, or (v) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by any Borrower
or any other Loan Party or any of the Loan 

  
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Parties’ directors, shareholders or creditors, and regardless of whether any Indemnitee is a party thereto, in all cases, whether or not caused by or arising, in whole or in part, out of the
comparative, contributory or sole negligence of the Indemnitee; provided that such indemnity shall not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related expenses (x) are
determined by a court of competent jurisdiction by final and nonappealable judgment to have resulted from the gross negligence or willful misconduct of such Indemnitee or (y) result from a claim brought by a Borrower or any other Loan Party
against an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document, if the Borrowers or such Loan Party has obtained a final and nonappealable judgment in its favor on such claim as
determined by a court of competent jurisdiction. 
 (c) Reimbursement by Lenders. To the extent that the
Loan Parties for any reason fail to indefeasibly pay any amount required under subsection (a) or (b) of this Section 10.04 to be paid by it, each Lender severally agrees to pay to the Agents (or any such sub-agent), the L/C
Issuer or such Related Party, as the case may be, such Lender’s Applicable Percentage (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought) of such unpaid amount, provided that the
unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Agents (or any such sub-agent) or the L/C Issuer in its capacity as such, or against any Related Party
of any of the foregoing acting for the Agents (or any such sub-agent) or L/C Issuer in connection with such capacity. The obligations of the Lenders under this subsection (c) are subject to the provisions of Section 2.12(d).

 (d) Waiver of Consequential Damages, Etc. To the fullest extent permitted by applicable Law, the Loan
Parties shall not assert, and hereby waive, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a
result of, this Agreement, any other Loan Document or any agreement or instrument contemplated hereby, the transactions contemplated hereby or thereby, any Loan or Letter of Credit or the use of the proceeds thereof. No Indemnitee shall be liable
for any damages arising from the use by unintended recipients of any information or other materials distributed to such unintended recipients by such Indemnitee through telecommunications, electronic or other information transmission systems in
connection with this Agreement or the other Loan Documents or the transactions contemplated hereby or thereby other than for direct or actual damages resulting from the gross negligence or willful misconduct of such Indemnitee as determined by a
final and nonappealable judgment of a court of competent jurisdiction. 
 (e) Payments. All amounts due
under this Section 10.04 shall be payable not later than ten Business Days after demand therefor. 

(f) Survival. The agreements in this Section 10.04 shall survive the resignation of any Agent and the
L/C Issuer, the assignment of any Commitment or Loan by any Lender, the replacement of any Lender, the termination of the Aggregate Revolving Commitments and the repayment, satisfaction or discharge of all the other Obligations. 

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

(a) Successors and Assigns Generally. The provisions of this Agreement shall be binding upon and inure to the
benefit of the parties hereto and their respective successors and assigns permitted hereby, except that no Loan Party may assign or otherwise transfer any of its rights or obligations hereunder or under any other Loan Document without the prior
written Consent of the Administrative Agent and each Lender and no Lender may assign or otherwise transfer any of its rights or obligations hereunder except (i) to an Eligible Assignee in accordance with the provisions of
Section 10.06(b), (ii) by way of participation in accordance with the provisions of Section 10.06(d), or (iii) by way of pledge or assignment of a security interest subject to the restrictions of
Section 10.06(f) (and any other attempted assignment or transfer by any party hereto shall be null and void). Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto,
their respective successors and assigns permitted hereby, Participants to the extent provided in subsection (d) of this Section 10.06 and, to the extent expressly contemplated hereby, the Related Parties of each of the Credit
Parties) any legal or equitable right, remedy or claim under or by reason of this Agreement. 
 (b)
Assignments by Lenders. On the Effective Date, by their execution hereof, Wells Fargo Bank, National Association (as successor to Wells Fargo Retail Finance, LLC and Wachovia Capital Finance Corporation (Western)) shall be deemed to have
assigned to Bank of America, N.A. and to SunTrust Bank, and Bank of America, N.A. and SunTrust Bank shall be deemed to have accepted an assignment of, a portion of its existing Revolving Commitments under the Existing Credit Agreement so that the
Revolving Commitments under this Agreement shall be as reflected on Schedule 2.01 hereto. Such assignment shall be deemed to have been made on the terms set forth in this Agreement and in the Assignment and Assumption. After the Effective
Date, any Lender may at any time assign to one or more Eligible Assignees all or a portion of its rights and obligations under this Agreement (including all or a portion of its Commitment(s) and the Loans (including for purposes of this
Section 10.06(b), to the extent such assigning Lender is a Revolving Lender, participations in L/C Obligations and in Swing Line 

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

(i) Minimum Amounts. 
 (A) in the case of an assignment of the entire remaining amount of the assigning Lender’s Commitment and the Loans at the time owing to it or in the case of an assignment to a Lender or an Affiliate
of a Lender or an Approved Fund with respect to a Lender, no minimum amount need be assigned; and 
 (B) in any
case not described in Section 10.06(b)(i)(A), (1) the aggregate amount of the Revolving Commitment (which for this purpose includes Revolving Loans outstanding thereunder) or, if the Revolving Commitment is not then in effect, the
principal outstanding balance of the Revolving Loans of the assigning Revolving Lender subject to each such assignment, determined as of the date the Assignment and Assumption with respect to such assignment is delivered to the Administrative Agent
or, if “Trade Date” is specified in the Assignment and Assumption, as of the Trade Date, shall not be less than $10,000,000 unless each of the Administrative Agent and, so long as no Default has occurred and is continuing, the Lead
Borrower otherwise consents (each such consent not to be unreasonably withheld or delayed), and (2) the principal outstanding balance of the Term Loans of the assigning Term Lender subject to each such assignment, determined as of the date the
Assignment and Assumption with respect to such assignment is delivered to the Administrative Agent or, if “Trade Date” is specified in the Assignment and Assumption, as of the Trade Date, shall not be less than $2,500,000 unless each of
the Administrative Agent and, so long as no Default has occurred and is continuing, the Lead Borrower otherwise consents (each such consent not to be unreasonably withheld or delayed); provided, however, that concurrent assignments to
members of an Assignee Group and concurrent assignments from members of an Assignee Group to a single Eligible Assignee (or to an Eligible Assignee and members of its Assignee Group) will be treated as a single assignment for purposes of determining
whether such minimum amount has been met; 
 (ii) Proportionate Amounts. Each partial assignment shall be
made as an assignment of a proportionate part of all the assigning Lender’s rights and obligations under this Agreement with respect to the Loans or the Commitment assigned, except that this clause (ii) shall not apply to the Swing Line
Lender’s rights and obligations in respect of Swing Line Loans; 
 (iii) Required Consents. No
consent shall be required for any assignment except to the extent required by Section 10.06(b)(i)(B) and, in addition: 

  
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 (A) the consent of the Lead Borrower (such consent not to be unreasonably
withheld or delayed) shall be required unless (1) a Default has occurred and is continuing at the time of such assignment or (2) such assignment is to a Lender, an Affiliate of a Lender or an Approved Fund; and 

(B) the consent of the Administrative Agent (such consent not to be unreasonably withheld or delayed) shall be required
for assignments in respect of any Commitment if such assignment is to a Person that is not a Lender, an Affiliate of such Lender or an Approved Fund with respect to such Lender; and 

(C) the consent of the L/C Issuer (such consent not to be unreasonably withheld or delayed) shall be required for any
assignment that increases the obligation of the assignee to participate in exposure under one or more Letters of Credit (whether or not then outstanding); and 
 (D) the consent of the Swing Line Lender (such consent not to be unreasonably withheld or delayed) shall be required for any assignment in respect of the assignment of any Commitment. 

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

Subject to acceptance and recording thereof by the Administrative Agent pursuant to Section 10.06(c), from and after the effective date
specified in each Assignment and Assumption, the Eligible Assignee thereunder shall be a party to this Agreement and, to the extent of the interest assigned by such Assignment and Assumption, have the rights and obligations of a Lender under this
Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its obligations under this Agreement (and, in the case of an Assignment and Assumption covering all of
the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto) but shall continue to be entitled to the benefits of Sections 3.01, 3.04, 3.05, and 10.04 with respect
to facts and circumstances occurring prior to the effective date of such assignment. Upon request, the Borrowers (at their expense) shall execute and deliver a Note to the assignee Lender. Any assignment or transfer by a Lender of rights or
obligations under this Agreement that does not comply with this subsection shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with Section 10.06(d).

 (c) Register. The Administrative Agent, acting solely for this purpose as an agent of the Borrowers,
shall maintain at the Administrative Agent’s Office a copy of each Assignment and Assumption delivered to it and a register for the recordation of the 

  
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names and addresses of the Lenders, and the Commitments of, and principal amounts of the Loans and L/C Obligations owing to, each Lender pursuant to the terms hereof from time to time (the
“Register”). The entries in the Register shall be conclusive, absent manifest error, and the Loan Parties, the Administrative Agent and the Lenders may treat each Person whose name is recorded in the Register pursuant to the terms
hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. The Register shall be available for inspection by the Lead Borrower and any Lender at any reasonable time and from time to time upon reasonable
prior notice. 
 (d) Participations. Any Lender may at any time, without the consent of, or notice to, the
Loan Parties or the Administrative Agent, sell participations to any Person (other than a natural person or the Loan Parties or any of the Loan Parties’ Affiliates or Subsidiaries) (each, a “Participant”) in all or a portion of
such Lender’s rights and/or obligations under this Agreement (including all or a portion of its Commitment and/or the Loans (including, to the extent such assigning Lender is a Revolving Lender, such Lender’s participations in L/C
Obligations and/or Swing Line Loans) owing to it); provided that (i) such Lender’s obligations under this Agreement shall remain unchanged, (ii) such Lender shall remain solely responsible to the other parties hereto for
the performance of such obligations and (iii) the Loan Parties, the Agents, the Lenders and the L/C Issuer shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under this
Agreement. Any Participant shall agree in writing to comply with all confidentiality obligations set forth in Section 10.07 as if such Participant was a Lender hereunder. 

Any agreement or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole
right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; provided that such agreement or instrument may provide that such Lender will not, without the consent of the
Participant, agree to any amendment, waiver or other modification described in the first proviso to Section 10.01 that affects such Participant. Subject to Section 10.06(e), the Loan Parties agree that each Participant shall
be entitled to the benefits of Sections 3.01, 3.04 and 3.05 to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to Section 10.06(b). To the extent permitted by Law, each
Participant also shall be entitled to the benefits of Section 10.08 as though it were a Lender, provided such Participant agrees to be subject to Section 2.13 as though it were a Lender. 

(e) Limitations upon Participant Rights. A Participant shall not be entitled to receive any greater payment under
Section 3.01 or 3.04 than the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant, unless the sale of the participation to such Participant is made with the Lead
Borrower’s prior written consent. A Participant that would be a Foreign Lender if it were a Lender shall not be entitled to the benefits of Section 3.01 unless the Lead Borrower is notified of the participation sold to such
Participant and such Participant agrees, for the benefit of the Loan Parties, to comply with Section 3.01(e) as though it were a Lender. 
 (f) Certain Pledges. Any Lender may at any time pledge or assign a security interest in all or any portion of its rights under this Agreement (including under its Note,

  
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if any) to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank; provided that no such pledge or assignment shall
release such Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto. 
 (g) Electronic Execution of Assignments. The words “execution,” “signed,” “signature,” and words of like import in any Assignment and Assumption shall be deemed to
include electronic signatures or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case
may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the
Uniform Electronic Transactions Act, in each case as amended and in effect from time to time. 
 (h)
Resignation as L/C Issuer or Swing Line Lender after Assignment. Notwithstanding anything to the contrary contained herein, if at any time Bank of America assigns all of its Commitment and Loans pursuant to Section 10.06(b) above,
Bank of America may, (i) upon 30 days’ notice to the Lead Borrower and the Lenders, resign as L/C Issuer and/or (ii) upon 30 days’ notice to the Lead Borrower, resign as Swing Line Lender. In the event of any such resignation as
L/C Issuer or Swing Line Lender, the Lead Borrower shall be entitled to appoint from among the Lenders a successor L/C Issuer or Swing Line Lender hereunder; provided, however, that no failure by the Lead Borrower to appoint any such
successor shall affect the resignation of Bank of America as L/C Issuer or Swing Line Lender, as the case may be. If Bank of America resigns as L/C Issuer, it shall retain all the rights, powers, privileges and duties of the L/C Issuer hereunder
with respect to all Letters of Credit outstanding as of the effective date of its resignation as L/C Issuer and all L/C Obligations with respect thereto (including the right to require the Lenders to make Base Rate Loans or fund risk participations
in Unreimbursed Amounts pursuant to Section 2.03(c)). If Bank of America resigns as Swing Line Lender, it shall retain all the rights of the Swing Line Lender provided for hereunder with respect to Swing Line Loans made by it and
outstanding as of the effective date of such resignation, including the right to require the Lenders to make Base Rate Loans or fund risk participations in outstanding Swing Line Loans pursuant to Section 2.04(c). Upon the appointment of
a successor L/C Issuer and/or Swing Line Lender, (a) such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring L/C Issuer or Swing Line Lender, as the case may be, and (b) the
successor L/C Issuer shall issue letters of credit in substitution for the Letters of Credit, if any, outstanding at the time of such succession or make other arrangements satisfactory to Bank of America to effectively assume the obligations of Bank
of America with respect to such Letters of Credit. 
 10.07 Treatment of Certain Information; Confidentiality. Each of
the Credit Parties agrees to maintain the confidentiality of the Information (as defined below), except that Information may be disclosed (a) to its Affiliates and to its and its Affiliates’ respective partners, directors, officers,
employees, agents, advisors and representatives (it being understood that the Persons to whom such disclosure is made will be informed of the confidential nature of such 

  
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Information and instructed to keep such Information confidential), (b) to the extent requested by any regulatory authority purporting to have jurisdiction over it (including any
self-regulatory authority, such as the National Association of Insurance Commissioners), (c) to the extent required by applicable Laws or regulations or by any subpoena or similar legal process, (d) to any other party hereto, (e) in
connection with the exercise of any remedies hereunder or under any other Loan Document or any action or proceeding relating to this Agreement or any other Loan Document or the enforcement of rights hereunder or thereunder, (f) subject to an
agreement containing provisions substantially the same as those of this Section 10.07, to (i) any assignee of or Participant in, or any prospective assignee of or Participant in, any of its rights or obligations under this Agreement
or (ii) any actual or prospective counterparty (or its advisors) to any swap or derivative transaction relating to any Loan Party and its obligations, (g) with the consent of the Lead Borrower or (h) to the extent such Information
(x) becomes publicly available other than as a result of a breach of this Section 10.07 or (y) becomes available to any Credit Party or any of their respective Affiliates on a nonconfidential basis from a source other than the
Loan Parties. In the event that a Credit Party is required to disclose Information as described in clause (c) of this Section 10.07, such Credit Party shall, to the extent permitted by Applicable Law, regulation, or such court
order, promptly notify the Lead Borrower before making such disclosure and shall permit the Lead Borrower to seek a protective order or to take other appropriate actions and shall reasonably cooperate in the Lead Borrower’s efforts to maintain
the confidentiality of the Information. If a protective order or other remedy is not obtained, the Credit Party may furnish only that portion of the Information determined in the opinion of counsel to be legally required to be disclosed, and the
Credit Party will exercise reasonable efforts to obtain assurance that confidential treatment will be accorded such Information. 
 For purposes of this Section, “Information” means all information received from the Loan Parties or any Subsidiary thereof relating to the Loan Parties or any Subsidiary thereof or their
respective businesses, other than any such information that is available to any Credit Party on a nonconfidential basis prior to disclosure by the Loan Parties or any Subsidiary thereof, provided that, in the case of information received from
any Loan Party or any Subsidiary after the date hereof, such information is clearly identified at the time of delivery as confidential. Any Person required to maintain the confidentiality of Information as provided in this Section shall be
considered to have complied with its obligation to do so if such Person has exercised the same degree of care to maintain the confidentiality of such Information as such Person would accord to its own confidential information.
“Information” does not include any information which is shown by clear and convincing evidence: (i) was publicly known and made generally available in the public domain before the time of disclosure by the Loan Parties or any
Subsidiary thereof; (ii) becomes publicly known and made generally available after disclosure by the Loan Parties or any Subsidiary thereof to the Credit Party through no action or inaction of the Credit Party; (iii) is already in the
possession of the Credit Party at the time of disclosure by the Loan Parties or any Subsidiary thereof as shown by the Credit Party’s files and records immediately before the time of disclosure; (iv) is obtained by the Credit Party from a
third party without a breach of such third party’s obligations of confidentiality; or (v) is independently developed by the Credit Party without use of or reference to Information of the Loan Parties or any Subsidiary thereof, as shown by
documents and other competent evidence in the Credit Party’s possession. 
 Each of the Credit Parties acknowledges that
(a) the Information may include material non-public information concerning the Loan Parties or a Subsidiary, as the case may be, (b) it 

  
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has developed compliance procedures regarding the use of material non-public information and (c) it will handle such material non-public information in accordance with applicable Law,
including Federal and state securities Laws. 
 10.08 Right of Setoff. If an Event of Default shall have occurred
and be continuing or if any Lender shall have been served with a trustee process or similar attachment relating to property of a Loan Party, each Lender, the L/C Issuer and each of their respective Affiliates is hereby authorized at any time and
from time to time, after obtaining the prior written consent of the Administrative Agent or the Required Lenders, to the fullest extent permitted by applicable Law, to set off and apply any and all deposits (general or special, time or demand,
provisional or final, in whatever currency) at any time held and other obligations (in whatever currency) at any time owing by such Lender, the L/C Issuer or any such Affiliate to or for the credit or the account of the Borrowers or any other Loan
Party against any and all of the Obligations now or hereafter existing under this Agreement or any other Loan Document to such Lender or the L/C Issuer, irrespective of whether or not such Lender or the L/C Issuer shall have made any demand under
this Agreement or any other Loan Document and although such obligations of the Borrowers or such Loan Party may be contingent or unmatured or are owed to a branch or office of such Lender or the L/C Issuer different from the branch or office holding
such deposit or obligated on such indebtedness. The rights of each Lender, the L/C Issuer and their respective Affiliates under this Section 10.08 are in addition to other rights and remedies (including other rights of setoff) that such
Lender, the L/C Issuer or their respective Affiliates may have. Each Lender and the L/C Issuer agrees to notify the Lead Borrower and the Administrative Agent promptly after any such setoff and application, provided that the failure to
give such notice shall not affect the validity of such setoff and application. 
 10.09 Interest Rate Limitation.
Notwithstanding anything to the contrary contained in any Loan Document, the interest paid or agreed to be paid under the Loan Documents shall not exceed the maximum rate of non-usurious interest permitted by applicable Law (the “Maximum
Rate”). If the Administrative Agent or any Lender shall receive interest in an amount that exceeds the Maximum Rate, the excess interest shall be applied to the principal of the Loans or, if it exceeds such unpaid principal, refunded to the
Borrowers. In determining whether the interest contracted for, charged, or received by the Administrative Agent or a Lender exceeds the Maximum Rate, such Person may, to the extent permitted by applicable Law, (a) characterize any payment that
is not principal as an expense, fee, or premium rather than interest, (b) exclude voluntary prepayments and the effects thereof, and (c) amortize, prorate, allocate, and spread in equal or unequal parts the total amount of interest
throughout the contemplated term of the Obligations hereunder. 
 10.10 Counterparts; Integration; Effectiveness.
This Agreement may be executed in counterparts (and by different parties hereto in different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This Agreement and
the other Loan Documents constitute the entire contract among the parties relating to the subject matter hereof and supersede any and all previous agreements and understandings, oral or written, relating to the subject matter hereof. Except as
provided in Section 4.01, this Agreement shall become effective when it shall have been executed by the Administrative Agent and when the Administrative Agent shall have received counterparts hereof that, when taken together, bear the
signatures of each of the other parties hereto. Delivery 

  
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of an executed counterpart of a signature page of this Agreement by telecopy shall be as effective as delivery of a manually executed counterpart of this Agreement. 

10.11 Survival. All representations and warranties made hereunder and in any other Loan Document or other document
delivered pursuant hereto or thereto or in connection herewith or therewith shall survive the execution and delivery hereof and thereof. Such representations and warranties have been or will be relied upon by the Credit Parties, regardless of any
investigation made by any Credit Party or on their behalf and notwithstanding that any Credit Party may have had notice or knowledge of any Default at the time of any Credit Extension, and shall continue in full force and effect as long as any Loan
or any other Obligation hereunder shall remain unpaid or unsatisfied or any Letter of Credit shall remain outstanding. Further, the provisions of Sections 3.01, 3.04, 3.05 and 10.04 and Article IX shall survive and
remain in full force and effect regardless of the repayment of the Obligations, the expiration or termination of the Letters of Credit and the Aggregate Revolving Commitments or the termination of this Agreement or any provision hereof. In
connection with the termination of this Agreement and the release and termination of the security interests in the Collateral, the Agents may require such indemnities and collateral security as they shall reasonably deem necessary or appropriate to
protect the Credit Parties against (x) loss on account of credits previously applied to the Obligations that may subsequently be reversed or revoked, (y) any obligations that may thereafter arise with respect to the Other Liabilities, and
(z) any Obligations that may thereafter arise under Section 10.04 hereof. 
 10.12 Severability.
If any provision of this Agreement or the other Loan Documents is held to be illegal, invalid or unenforceable, (a) the legality, validity and enforceability of the remaining provisions of this Agreement and the other Loan Documents shall
not be affected or impaired thereby and (b) the parties shall endeavor in good faith negotiations to replace the illegal, invalid or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that
of the illegal, invalid or unenforceable provisions. The invalidity of a provision in a particular jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 

10.13 Replacement of Lenders. If any Lender requests compensation under Section 3.04, or if the Borrowers are required
to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 3.01, or if any Lender is a Defaulting Lender or a Non-Consenting Lender, then the Lead Borrower may, at the
Borrowers’ sole expense and effort, upon notice to such Lender and the Administrative Agent, require such Lender to assign and delegate, without recourse (in accordance with and subject to the restrictions contained in, and consents required
by, Section 10.06), all of its interests, rights and obligations under this Agreement and the related Loan Documents to an assignee that shall assume such obligations (which assignee may be another Lender, if a Lender accepts such
assignment), provided that: 
 (a) the Borrowers shall have paid to the Administrative Agent the
assignment fee specified in Section 10.06(b); 
 (b) such Lender shall have received payment of an
amount equal to the outstanding principal of its Loans and L/C Advances, accrued interest thereon, accrued 

  
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fees and all other amounts payable to it hereunder and under the other Loan Documents (including any amounts under Section 3.05) from the assignee (to the extent of such outstanding
principal and accrued interest and fees) or the Borrowers (in the case of all other amounts); 
 (c) in the case
of any such assignment resulting from a claim for compensation under Section 3.04 or payments required to be made pursuant to Section 3.01, such assignment will result in a reduction in such compensation or payments
thereafter; and 
 (d) such assignment does not conflict with applicable Laws. 

A Lender shall not be required to make any such assignment or delegation if, prior thereto, as a result of a waiver by such Lender or otherwise, the
circumstances entitling the Borrowers to require such assignment and delegation cease to apply. 
 10.14 Governing Law;
Jurisdiction; Etc.  
 (a) GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
 (b) SUBMISSION TO JURISDICTION. EACH LOAN PARTY
IRREVOCABLY AND UNCONDITIONALLY SUBMITS, FOR ITSELF AND ITS PROPERTY, TO THE NONEXCLUSIVE JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK SITTING IN NEW YORK COUNTY AND OF THE UNITED STATES DISTRICT COURT OF THE SOUTHERN DISTRICT OF NEW YORK,
AND ANY APPELLATE COURT FROM ANY THEREOF, IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT, OR FOR RECOGNITION OR ENFORCEMENT OF ANY JUDGMENT, AND EACH OF THE LOAN PARTIES HERETO IRREVOCABLY AND
UNCONDITIONALLY AGREES THAT ALL CLAIMS IN RESPECT OF ANY SUCH ACTION OR PROCEEDING MAY BE HEARD AND DETERMINED IN SUCH NEW YORK STATE COURT OR, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, IN SUCH FEDERAL COURT. EACH OF THE LOAN PARTIES HERETO
AGREES THAT A FINAL JUDGMENT IN ANY SUCH ACTION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW. NOTHING IN THIS AGREEMENT OR IN ANY OTHER LOAN DOCUMENT
SHALL AFFECT ANY RIGHT THAT ANY CREDIT PARTY MAY OTHERWISE HAVE TO BRING ANY ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT AGAINST ANY LOAN PARTY OR ITS PROPERTIES IN THE COURTS OF ANY JURISDICTION. 

(c) WAIVER OF VENUE. EACH LOAN PARTY IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY

  
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APPLICABLE LAW, ANY OBJECTION THAT IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT IN ANY
COURT REFERRED TO IN PARAGRAPH (B) OF THIS SECTION. EACH OF THE LOAN PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THE DEFENSE OF AN INCONVENIENT FORUM TO THE MAINTENANCE OF SUCH ACTION OR
PROCEEDING IN ANY SUCH COURT. 
 (d) SERVICE OF PROCESS. EACH PARTY HERETO IRREVOCABLY CONSENTS TO SERVICE
OF PROCESS IN THE MANNER PROVIDED FOR NOTICES IN SECTION 10.02. NOTHING IN THIS AGREEMENT WILL AFFECT THE RIGHT OF ANY PARTY HERETO TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE LAW. 

(e) ACTIONS COMMENCED BY LOAN PARTIES. EACH LOAN PARTY AGREES THAT ANY ACTION COMMENCED BY ANY LOAN PARTY ASSERTING
ANY CLAIM OR COUNTERCLAIM ARISING UNDER OR IN CONNECTION WITH THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT SHALL BE BROUGHT SOLELY IN A COURT OF THE STATE OF NEW YORK SITTING IN NEW YORK COUNTY OR ANY FEDERAL COURT SITTING THEREIN, AS THE
ADMINISTRATIVE AGENT MAY ELECT IN ITS SOLE DISCRETION, AND CONSENTS TO THE EXCLUSIVE JURISDICTION OF SUCH COURTS WITH RESPECT TO ANY SUCH ACTION. 
 10.15 Waiver of Jury Trial. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY
OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO
REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PERSON WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES
HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION. 
 10.16 No Advisory or Fiduciary Responsibility. In connection with all aspects of each transaction contemplated hereby, the Loan Parties each acknowledge and agree that: (i) the credit facility
provided for hereunder and any related arranging or other services in connection therewith (including in connection with any amendment, waiver or other modification hereof or of any other Loan Document) are an arm’s-length commercial
transaction between the Loan Parties, on the one hand, and the Credit Parties, on the other hand, and each of the Loan Parties is capable of evaluating and understanding and understands and accepts the terms, risks and 

  
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conditions of the transactions contemplated hereby and by the other Loan Documents (including any amendment, waiver or other modification hereof or thereof); (ii) in connection with the
process leading to such transaction, each Credit Party is and has been acting solely as a principal and is not the financial advisor, agent or fiduciary, for the Loan Parties or any of their respective Affiliates, stockholders, creditors or
employees or any other Person; (iii) none of the Credit Parties has assumed or will assume an advisory, agency or fiduciary responsibility in favor of the Loan Parties with respect to any of the transactions contemplated hereby or the process
leading thereto, including with respect to any amendment, waiver or other modification hereof or of any other Loan Document (irrespective of whether any of the Credit Parties has advised or is currently advising any Loan Party or any of its
Affiliates on other matters) and none of the Credit Parties has any obligation to any Loan Party or any of its Affiliates with respect to the transactions contemplated hereby, except those obligations expressly set forth herein and in the other Loan
Documents; (iv) the Credit Parties and their respective Affiliates may be engaged in a broad range of transactions that involve interests that differ from those of the Loan Parties and their respective Affiliates, and none of the Credit Parties
has any obligation to disclose any of such interests by virtue of any advisory, agency or fiduciary relationship; and (v) the Credit Parties have not provided, and will not provide, any legal, accounting, regulatory or tax advice with respect
to any of the transactions contemplated hereby (including any amendment, waiver or other modification hereof or of any other Loan Document), and each of the Loan Parties has consulted its own legal, accounting, regulatory and tax advisors to the
extent it has deemed appropriate. Each of the Loan Parties hereby waives and releases, to the fullest extent permitted by Law, any claims that it may have against each of the Credit Parties with respect to any breach or alleged breach of agency or
fiduciary duty. 
 10.17 USA PATRIOT Act Notice; Foreign Asset Control Regulations.  

(a) Each Lender that is subject to the USA PATRIOT Act and the Administrative Agent (for itself and not on behalf of any
Lender) hereby notifies the Loan Parties that pursuant to the requirements of the USA PATRIOT Act, it is required to obtain, verify and record information that identifies each Loan Party, which information includes the name and address of each Loan
Party and other information that will allow such Lender or the Administrative Agent, as applicable, to identify each Loan Party in accordance with the USA PATRIOT Act. Each Loan Party is in compliance, in all material respects, with the USA PATRIOT
Act. No part of the proceeds of the Loans will be used by the Loan Parties, directly or indirectly, for any payments to any governmental official or employee, political party, official of a political party, candidate for political office, or anyone
else acting in an official capacity, in order to obtain, retain or direct business or obtain any improper advantage, in violation of the United States Foreign Corrupt Practices Act of 1977, as amended and in effect from time to time. 

(b) Neither of the advance of the Loans nor the use of the proceeds of any thereof will violate the Trading With the Enemy
Act (50 U.S.C. § 1 et seq., as amended and in effect from time to time) (the “Trading With the Enemy Act”) or any of the foreign assets control regulations of the United States Treasury Department (31 CFR, Subtitle B, Chapter
V, as amended and in effect from time to time) (the “Foreign Assets Control Regulations”) or any enabling legislation or executive order relating thereto (which for the avoidance of doubt shall include, but shall not be limited to
(a) Executive Order 

  
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13224 of September 21, 2001 Blocking Property and Prohibiting Transactions With Persons Who Commit, Threaten to Commit, or Support Terrorism (66 Fed. Reg. 49079 (2001)) (the
“Executive Order”) and (b) the USA PATRIOT Act. Furthermore, none of the Borrowers or their Affiliates (a) is or will become a “blocked person” as described in the Executive Order, the Trading With the Enemy Act
or the Foreign Assets Control Regulations or (b) engages or will engage in any dealings or transactions, or be otherwise associated, with any such “blocked person” or in any manner violative of any such order. 

10.18 Time of the Essence. Time is of the essence of the Loan Documents. 

10.19 Press Releases. 
 (a) Each Credit Party executing this Agreement agrees that neither it nor its Affiliates will in the future issue any press releases or other public disclosure using the name of Administrative Agent or
its Affiliates or referring to this Agreement or the other Loan Documents without at least two (2) Business Days’ prior notice to the Administrative Agent and without the prior written consent of the Administrative Agent unless (and only
to the extent that) such Credit Party or Affiliate is required to do so under applicable Law and then, in any event, such Credit Party or Affiliate will consult with Administrative Agent before issuing such press release or other public disclosure.

 (b) The Administrative Agent and each Credit Party executing this Agreement agrees that neither it nor its
Affiliates will, on the Effective Date or in the future, issue any press releases or other public disclosure using the name of the Lead Borrower or its Affiliates or referring to this Agreement or the other Loan Documents without at least
twenty-four (24) hours prior notice to the Lead Borrower unless (and only to the extent that) the Administrative Agent or such Credit Party or Affiliate is required to do so under applicable Law and then, in any event, the Administrative Agent
or such Credit Party or Affiliate will consult with the Lead Borrower before issuing such press release or other public disclosure. 
 (c) Each Loan Party consents to the publication by the Administrative Agent of customary trade advertising material in tombstone format relating to the financing transactions contemplated by this
Agreement using any Loan Party’s name, and with the consent of the Lead Borrower, logo or trademark. The Administrative Agent shall provide a draft reasonably in advance of any advertising material to the Lead Borrower for review and comment
prior to the publication thereof. The Administrative Agent reserves the right to provide to industry trade organizations information necessary and customary for inclusion in league table measurements. 

10.20 Additional Waivers. 
 (a) The Obligations are the joint and several obligation of each Loan Party. To the fullest extent permitted by applicable Law, the obligations of each Loan Party shall not be affected by (i) the
failure of any Credit Party to assert any claim or demand or to enforce or exercise any right or remedy against any other Loan Party under the provisions of this Agreement, any other Loan Document or otherwise, (ii) any rescission,

  
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waiver, amendment or modification of, or any release from any of the terms or provisions of, this Agreement or any other Loan Document, or (iii) the failure to perfect any security interest
in, or the release of, any of the Collateral or other security held by or on behalf of the Collateral Agent or any other Credit Party. 
 (b) The obligations of each Loan Party shall not be subject to any reduction, limitation, impairment or termination for any reason (other than the indefeasible payment in full in cash of the Obligations
after the termination of the Aggregate Revolving Commitments), including any claim of waiver, release, surrender, alteration or compromise of any of the Obligations, and shall not be subject to any defense or setoff, counterclaim, recoupment or
termination whatsoever by reason of the invalidity, illegality or unenforceability of any of the Obligations or otherwise. Without limiting the generality of the foregoing, the obligations of each Loan Party hereunder shall not be discharged or
impaired or otherwise affected by the failure of any Agent or any other Credit Party to assert any claim or demand or to enforce any remedy under this Agreement, any other Loan Document or any other agreement, by any waiver or modification of any
provision of any thereof, any default, failure or delay, willful or otherwise, in the performance of any of the Obligations, or by any other act or omission that may or might in any manner or to any extent vary the risk of any Loan Party or that
would otherwise operate as a discharge of any Loan Party as a matter of law or equity (other than the indefeasible payment in full in cash of all the Obligations after the termination of the Aggregate Revolving Commitments). 

(c) To the fullest extent permitted by applicable Law, each Loan Party waives any defense based on or arising out of any
defense of any other Loan Party or the unenforceability of the Obligations or any part thereof from any cause, or the cessation from any cause of the liability of any other Loan Party, other than the indefeasible payment in full in cash of all the
Obligations and the termination of the Aggregate Revolving Commitments. The Collateral Agent and the other Credit Parties may, at their election, foreclose on any security held by one or more of them by one or more judicial or nonjudicial sales,
accept an assignment of any such security in lieu of foreclosure, compromise or adjust any part of the Obligations, make any other accommodation with any other Loan Party, or exercise any other right or remedy available to them against any other
Loan Party, without affecting or impairing in any way the liability of any Loan Party hereunder except to the extent that all the Obligations have been indefeasibly paid in full in cash and the Aggregate Revolving Commitments have been terminated.
Each Loan Party waives any defense arising out of any such election even though such election operates, pursuant to applicable Law, to impair or to extinguish any right of reimbursement or subrogation or other right or remedy of such Loan Party
against any other Loan Party, as the case may be, or any security. 
 (d) Each Borrower is obligated to repay the
Obligations as joint and several obligors under this Agreement. Upon payment by any Loan Party of any Obligations, all rights of such Loan Party against any other Loan Party arising as a result thereof by way of right of subrogation, contribution,
reimbursement, indemnity or otherwise shall in all respects be subordinate and junior in right of payment to the prior indefeasible payment in full in cash of all the Obligations and the date that the Aggregate Revolving

  
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Commitments have been terminated. In addition, any indebtedness of any Loan Party now or hereafter held by any other Loan Party is hereby subordinated in right of payment to the prior
indefeasible payment in full of the Obligations and no Loan Party will demand, sue for or otherwise attempt to collect any such indebtedness. If any amount shall erroneously be paid to any Loan Party on account of (i) such subrogation,
contribution, reimbursement, indemnity or similar right or (ii) any such indebtedness of any Loan Party, such amount shall be held in trust for the benefit of the Credit Parties and shall forthwith be paid to the Administrative Agent to be
credited against the payment of the Obligations, whether matured or unmatured, in accordance with the terms of this Agreement and the other Loan Documents. Subject to the foregoing, to the extent that any Borrower shall, under this Agreement as a
joint and several obligor, repay any of the Obligations constituting Revolving Loans made to another Borrower hereunder or other Obligations incurred directly and primarily by any other Borrower (an “Accommodation Payment”), then
the Borrower making such Accommodation Payment shall be entitled to contribution and indemnification from, and be reimbursed by, each of the other Borrowers in an amount, for each of such other Borrowers, equal to a fraction of such Accommodation
Payment, the numerator of which fraction is such other Borrower’s Allocable Amount and the denominator of which is the sum of the Allocable Amounts of all of the Borrowers. As of any date of determination, the “Allocable
Amount” of each Borrower shall be equal to the maximum amount of liability for Accommodation Payments which could be asserted against such Borrower hereunder without (a) rendering such Borrower “insolvent” within the meaning
of Section 101 (31) of the Bankruptcy Code, Section 2 of the Uniform Fraudulent Transfer Act (“UFTA”) or Section 2 of the Uniform Fraudulent Conveyance Act (“UFCA”), in each case as amended and
in effect from time to time, (b) leaving such Borrower with unreasonably small capital or assets, within the meaning of Section 548 of the Bankruptcy Code, Section 4 of the UFTA, or Section 5 of the UFCA, in each case as amended
and in effect from time to time, or (c) leaving such Borrower unable to pay its debts as they become due within the meaning of Section 548 of the Bankruptcy Code or Section 4 of the UFTA, or Section 5 of the UFCA, in each case as
amended and in effect from time to time. 
 (e) Without limiting the generality of the foregoing, or of any other
waiver or other provision set forth in this Agreement, each Loan Party hereby absolutely, knowingly, unconditionally, and expressly waives any and all claim, defense or benefit arising directly or indirectly under any one or more of Sections 2787 to
2855 inclusive of the California Civil Code or any similar law of California, as amended and in effect from time to time. 

10.21 No Strict Construction. The parties hereto have participated jointly in the negotiation and drafting of this Agreement. In
the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the parties hereto and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the
authorship of any provisions of this Agreement. 
 10.22 Attachments. The exhibits, schedules and annexes attached to
this Agreement are incorporated herein and shall be considered a part of this Agreement for the purposes stated 

  
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herein, except that in the event of any conflict between any of the provisions of such exhibits and the provisions of this Agreement, the provisions of this Agreement shall prevail. 

10.23 Existing Credit Agreement Amended and Restated 
 This Agreement shall amend and restate the Existing Credit Agreement in its entirety. On the Effective Date, the rights and obligations of the parties under the Existing Credit Agreement shall be subsumed
within and be governed by this Agreement; provided, however, that each of the Loans and Swing Line Loans (as such terms are defined in the Existing Credit Agreement) outstanding under the Existing Credit Agreement on the Effective Date shall, for
purposes of this Agreement, be included as Revolving Loans and Swing Line Loans hereunder and all L/C Obligations (as defined in the Existing Credit Agreement) outstanding under the Existing Credit Agreement on the Effective Date shall be L/C
Obligations hereunder. The parties hereto acknowledge and agree that (a) this Agreement and the other Loan Documents, whether executed and delivered in connection herewith or otherwise, do not constitute a novation, payment and reborrowing, or
termination of the “Obligations” (as defined in the Existing Credit Agreement) under the Existing Credit Agreement as in effect prior to the Effective Date, and (b) such “Obligations” are in all respects continuing (as
amended and restated hereby) as indebtedness and obligations outstanding under this Agreement. 
 [SIGNATURE PAGES FOLLOW]

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

			
	 COST PLUS, INC., as Lead Borrower and
 as a Borrower

		
	By:	 	 /s/ Jane L. Baughman

	Name:	 	Jane L. Baughman
	Title:	 	Executive Vice President, CFO
	
	 COST PLUS OF TEXAS, INC., as a
 Borrower

		
	By:	 	 /s/ Naomi Duffy

	Name:	 	Naomi Duffy
	Title:	 	President of Cost Plus of Texas, Inc.
	
	 COST PLUS OF IDAHO, INC., as a
 Borrower

		
	By:	 	 /s/ Jane L. Baughman

	Name:	 	Jane L. Baughman
	Title:	 	Secretary
	
	 COST PLUS MANAGEMENT
 SERVICES, INC., as a Borrower

		
	By:	 	 /s/ Jane L. Baughman

	Name:	 	Jane L. Baughman
	Title:	 	CFO, Secretary

  
 S-1

 Credit Agreement 

  

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

		
	By:	 	 /s/ Mark Twomey

	Name:	 	Mark Twomey
	Title:	 	Senior Vice President – Director,
		 	Retail Finance Group
	
	 BANK OF AMERICA, N.A., as a Lender,
 L/C Issuer and Swing Line Lender

		
	By:	 	 /s/ Mark Twomey

	Name:	 	Mark Twomey
	Title:	 	 Senior Vice President – Director,
 Retail Finance Group

  
 S-2

 Credit Agreement 

  

			
	 WELLS FARGO CAPITAL FINANCE,
 LLC, as Syndication Agent

		
	By:	 	 /s/ Matthew N. Williams

	Name:	 	Matthew N. Williams
	Title:	 	Managing Director
	
	 WELLS FARGO BANK, NATIONAL
 ASSOCIATION, as a Lender

		
	By:	 	 /s/ Matthew N. Williams

	Name:	 	Matthew N. Williams
	Title:	 	Managing Director

  
 S-3

 Credit Agreement 

  

			
	SUNTRUST BANK, as a Lender
		
	By:	 	 /s/ Kevin Harrison

	Name:	 	Kevin Harrison
	Title:	 	Managing Director

  
 S-4

 Credit Agreement

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