Document:

EX-10.16

 Exhibit 10.16 

INDENTURE 
 Dated as of
November 5, 2020 
 Among 

FINANCE OF AMERICA FUNDING LLC, as the Issuer, 

FINANCE OF AMERICA EQUITY CAPITAL LLC, as Parent Guarantor, 

the other Guarantors from time to time party hereto 

and 
 U.S. BANK NATIONAL
ASSOCIATION, 
 as Trustee 
  

 
 $350,000,000
7.875% SENIOR NOTES DUE 2025 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	ARTICLE 1	 
	DEFINITIONS AND INCORPORATION BY REFERENCE	 
			
	 Section 1.01.
	 	Definitions	  	 	1	 
	 Section 1.02.
	 	Other Definitions	  	 	52	 
	 Section 1.03.
	 	Rules of Construction	  	 	53	 
	 Section 1.04.
	 	Acts of Holders	  	 	54	 
	 Section 1.05.
	 	Timing of Payment	  	 	55	 
	 Section 1.06.
	 	Limited Condition Transactions	  	 	55	 
	 Section 1.07.
	 	Certain Compliance Calculations	  	 	56	 
	
	ARTICLE 2	 
	THE NOTES	 
			
	 Section 2.01.
	 	Form and Dating; Terms	  	 	57	 
	 Section 2.02.
	 	Execution and Authentication	  	 	58	 
	 Section 2.03.
	 	Registrars, Transfer Agents and Paying Agents	  	 	59	 
	 Section 2.04.
	 	Paying Agent to Hold Money in Trust	  	 	59	 
	 Section 2.05.
	 	Holder Lists	  	 	59	 
	 Section 2.06.
	 	Transfer and Exchange	  	 	60	 
	 Section 2.07.
	 	Replacement Notes	  	 	70	 
	 Section 2.08.
	 	Outstanding Notes	  	 	70	 
	 Section 2.09.
	 	Treasury Notes	  	 	71	 
	 Section 2.10.
	 	Temporary Notes	  	 	71	 
	 Section 2.11.
	 	Cancellation	  	 	71	 
	 Section 2.12.
	 	Defaulted Interest	  	 	71	 
	 Section 2.13.
	 	CUSIP Numbers; ISINs	  	 	72	 
	
	ARTICLE 3	 
	REDEMPTION	 
			
	 Section 3.01.
	 	Notices to Trustee	  	 	72	 
	 Section 3.02.
	 	Selection of Notes to Be Redeemed or Purchased	  	 	72	 
	 Section 3.03.
	 	Notice of Redemption or Purchase	  	 	72	 
	 Section 3.04.
	 	Effect of Notice of Redemption	  	 	73	 
	 Section 3.05.
	 	Deposit of Redemption Price	  	 	73	 
	 Section 3.06.
	 	Notes Redeemed in Part	  	 	74	 
	 Section 3.07.
	 	Optional Redemption	  	 	74	 
	 Section 3.08.
	 	Offers to Repurchase by Application of Excess Proceeds	  	 	75	 
	 Section 3.09.
	 	Mandatory Redemption	  	 	77	 
	
	ARTICLE 4	 
	COVENANTS	 
			
	 Section 4.01.
	 	Payment of Notes	  	 	78	 
	 Section 4.02.
	 	Maintenance of Office or Agency	  	 	78	 
	 Section 4.03.
	 	Reports and Other Information	  	 	78	 
	 Section 4.04.
	 	Compliance Certificate	  	 	80	 
	 Section 4.05.
	 	Taxes	  	 	80	 
	 Section 4.06.
	 	Stay, Extension and Usury Laws	  	 	81	 
	 Section 4.07.
	 	Limitation on Restricted Payments	  	 	81	 

  
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	 Section 4.08.
	 	Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries	  	 	90	 
	 Section 4.09.
	 	Limitation on Incurrence of Indebtedness and Issuance of Disqualified Stock and Preferred Stock	  	 	92	 
	 Section 4.10.
	 	Asset Sales	  	 	100	 
	 Section 4.11.
	 	Transactions with Affiliates	  	 	103	 
	 Section 4.12.
	 	Liens	  	 	107	 
	 Section 4.13.
	 	Company Existence	  	 	107	 
	 Section 4.14.
	 	Offer to Repurchase Upon Change of Control	  	 	107	 
	 Section 4.15.
	 	Limitation on Guarantees of Indebtedness by Restricted Subsidiaries	  	 	109	 
	 Section 4.16.
	 	[Reserved]	  	 	110	 
	 Section 4.17.
	 	Suspension of Covenants	  	 	110	 
	
	ARTICLE 5	 
	SUCCESSORS	 
			
	 Section 5.01.
	 	Merger, Consolidation or Sale of All or Substantially All Assets	  	 	111	 
	 Section 5.02.
	 	Successor Person Substituted	  	 	113	 
	
	ARTICLE 6	 
	DEFAULTS AND REMEDIES	 
			
	 Section 6.01.
	 	Events of Default	  	 	113	 
	 Section 6.02.
	 	Acceleration	  	 	115	 
	 Section 6.03.
	 	Other Remedies	  	 	117	 
	 Section 6.04.
	 	Waiver of Past Defaults	  	 	117	 
	 Section 6.05.
	 	Control by Majority	  	 	117	 
	 Section 6.06.
	 	Limitation on Suits	  	 	117	 
	 Section 6.07.
	 	Right of Holders to Sue for Payment	  	 	118	 
	 Section 6.08.
	 	Collection Suit by Trustee	  	 	118	 
	 Section 6.09.
	 	Restoration of Rights and Remedies	  	 	118	 
	 Section 6.10.
	 	Rights and Remedies Cumulative	  	 	118	 
	 Section 6.11.
	 	Delay or Omission Not Waiver	  	 	118	 
	 Section 6.12.
	 	Trustee May File Proofs of Claim	  	 	118	 
	 Section 6.13.
	 	Priorities	  	 	118	 
	 Section 6.14.
	 	Undertaking for Costs	  	 	119	 
	
	ARTICLE 7	 
	TRUSTEE AND AGENTS	 
			
	 Section 7.01.
	 	Duties of Trustee	  	 	119	 
	 Section 7.02.
	 	Rights of Trustee	  	 	120	 
	 Section 7.03.
	 	Individual Rights of Trustee	  	 	122	 
	 Section 7.04.
	 	Trustee’s Disclaimer	  	 	122	 
	 Section 7.05.
	 	Notice of Defaults	  	 	122	 
	 Section 7.06.
	 	Compensation and Indemnity	  	 	122	 
	 Section 7.07.
	 	Replacement of Trustee	  	 	123	 
	 Section 7.08.
	 	Successor Trustee by Merger, etc.	  	 	124	 
	 Section 7.09.
	 	Eligibility; Disqualification	  	 	124	 
	
	ARTICLE 8	 
	LEGAL DEFEASANCE AND COVENANT DEFEASANCE	 
			
	 Section 8.01.
	 	Option to Effect Legal Defeasance or Covenant Defeasance	  	 	124	 
	 Section 8.02.
	 	Legal Defeasance and Discharge	  	 	124	 
	 Section 8.03.
	 	Covenant Defeasance	  	 	125	 

  
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	 Section 8.04.
	 	Conditions to Legal or Covenant Defeasance	  	 	125	 
	 Section 8.05.
	 	Deposited Money and U.S. Government Securities to be Held in Trust; Other Miscellaneous Provisions	  	 	126	 
	 Section 8.06.
	 	Repayment to Issuer	  	 	127	 
	 Section 8.07.
	 	Reinstatement	  	 	127	 
	
	ARTICLE 9	 
	AMENDMENT, SUPPLEMENT AND WAIVER	 
			
	 Section 9.01.
	 	Without Consent of Holders	  	 	127	 
	 Section 9.02.
	 	With Consent of Holders	  	 	128	 
	 Section 9.03.
	 	Revocation and Effect of Consents	  	 	129	 
	 Section 9.04.
	 	Notation on or Exchange of Notes	  	 	130	 
	 Section 9.05.
	 	Trustee to Sign Amendments, etc.	  	 	130	 
	 Section 9.06.
	 	Additional Voting Terms; Calculation of Principal Amount	  	 	130	 
	 Section 9.07.
	 	No Impairment of Right of Holders to Receive Payment	  	 	130	 
	
	ARTICLE 10	 
	GUARANTEES	 
			
	 Section 10.01.
	 	Guarantee	  	 	130	 
	 Section 10.02.
	 	Limitation on Subsidiary Guarantor Liability	  	 	132	 
	 Section 10.03.
	 	Execution and Delivery	  	 	132	 
	 Section 10.04.
	 	Subrogation	  	 	132	 
	 Section 10.05.
	 	Benefits Acknowledged	  	 	132	 
	 Section 10.06.
	 	Release of Guarantees	  	 	132	 
	
	ARTICLE 11	 
	SATISFACTION AND DISCHARGE	 
			
	 Section 11.01.
	 	Satisfaction and Discharge	  	 	133	 
	 Section 11.02.
	 	Application of Trust Money	  	 	134	 
	
	ARTICLE 12	 
	MISCELLANEOUS	 
			
	 Section 12.01.
	 	Notices	  	 	135	 
	 Section 12.02.
	 	[Reserved]	  	 	136	 
	 Section 12.03.
	 	Certificate and Opinion as to Conditions Precedent	  	 	136	 
	 Section 12.04.
	 	Statements Required in Certificate or Opinion	  	 	136	 
	 Section 12.05.
	 	Rules by Trustee and Agents	  	 	137	 
	 Section 12.06.
	 	No Personal Liability of Directors, Officers, Employees and Stockholders	  	 	137	 
	 Section 12.07.
	 	Governing Law	  	 	137	 
	 Section 12.08.
	 	Waiver of Jury Trial	  	 	137	 
	 Section 12.09.
	 	Force Majeure	  	 	137	 
	 Section 12.10.
	 	No Adverse Interpretation of Other Agreements	  	 	137	 
	 Section 12.11.
	 	Successors	  	 	137	 
	 Section 12.12.
	 	Severability	  	 	137	 
	 Section 12.13.
	 	Counterpart Originals	  	 	137	 
	 Section 12.14.
	 	Table of Contents, Headings, etc.	  	 	138	 
	 Section 12.15.
	 	Trust Indenture Act	  	 	138	 
	 Section 12.16.
	 	USA Patriot Act	  	 	138	 

  
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 EXHIBITS 
  

			
	Exhibit A	  	FORM OF NOTE
	Exhibit B	  	FORM OF CERTIFICATE OF TRANSFER
	Exhibit C	  	FORM OF CERTIFICATE OF EXCHANGE
	Exhibit D	  	FORM OF CERTIFICATE OF ACQUIRING INSTITUTIONAL ACCREDITED INVESTOR
	Exhibit E	  	FORM OF SUPPLEMENTAL INDENTURE TO BE DELIVERED BY SUBSEQUENT GUARANTORS

  
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 INDENTURE, dated as of November 5, 2020, among Finance of America Funding LLC, a
Delaware limited liability company (the “Issuer”), Finance of America Equity Capital LLC (as further defined below, the “Parent Guarantor”), the Subsidiary Guarantors (as defined herein) listed on the signature
pages hereto, and U.S. Bank National Association, as Trustee. 
 W I T N E S S E T H 

WHEREAS, the Issuer has duly authorized the creation of an issue of $350,000,000 aggregate principal amount of the Issuer’s 7.875% Senior
Notes due 2025 (the “Notes”); and 
 WHEREAS, the Issuer and each of the Guarantors (as defined herein) have duly
authorized the execution and delivery of this Indenture (as defined herein). 
 NOW, THEREFORE, the Issuer, each of the Guarantors and the
Trustee agree as follows for the benefit of each other and for the equal and ratable benefit of the Holders (as defined herein). 
 ARTICLE 1

 DEFINITIONS AND INCORPORATION BY REFERENCE 

Section 1.01. Definitions. 

“144A Global Note” means a Global Note, substantially in the form of Exhibit A hereto bearing the Global Note Legend
and the Private Placement Legend and deposited with or on behalf of, and registered in the name of, the Depositary or its nominee, issued in a denomination equal to the outstanding principal amount of Notes sold in reliance on Rule 144A. 

“Accounting Change” has the meaning set forth in the definition of “GAAP.” 

“Acquired Indebtedness” means, with respect to any specified Person, 

(a) Indebtedness of any other Person existing at the time such other Person is merged, consolidated or amalgamated with or into
or became a Restricted Subsidiary of such specified Person, including Indebtedness incurred or assumed in connection with, or in contemplation of, such other Person merging, consolidating or amalgamating with or into or becoming a Restricted
Subsidiary of such specified Person, and 
 (b) Indebtedness secured by a Lien encumbering any asset acquired by such
specified Person. 
 “Additional Notes” means any additional Notes (other than the Initial Notes) issued from time to time
under this Indenture in accordance with Sections 2.01, 2.02 and 4.09 hereof. 
 “Affiliate” of any specified Person means
any other Person directly or indirectly controlling or controlled by or under direct or indirect common control with such specified Person. No Person shall be an “Affiliate” of the Issuer or any Subsidiary solely because it is an unrelated
portfolio operating company of an Investor. For purposes of this definition, “control” (including, with correlative meanings, the terms “controlling,” “controlled by” and “under common
control with”), as used with respect to any Person, means the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of such Person, whether through the ownership of voting
securities, by agreement or otherwise. 
 “Agent” means any Registrar, Transfer Agent, Paying Agent or Authentication
Agent. 
 “Applicable Indebtedness” has the meaning set forth in the definition of “Weighted Average Life to
Maturity.” 

 “Applicable Premium” means, with respect to any Note on any Redemption
Date, the greater of: (1) 1.0% of the principal amount of such Note, and (2) the excess, if any, of (a) the present value at such Redemption Date of (i) the redemption price of such Note at November 15, 2022 (such redemption
price being set forth in the table set forth in Section 3.07(c) hereof), plus (ii) all required remaining scheduled interest payments due on such Note through November 15, 2022 (excluding accrued but unpaid interest to, but excluding,
the Redemption Date), computed using a discount rate equal to the Applicable Treasury Rate as of such Redemption Date plus 50 basis points, over (b) the then outstanding principal amount of such Note. The Issuer shall calculate, or cause the
calculation of, the Applicable Premium, and the Trustee and Agents shall have no duty to calculate, or verify the Issuer’s calculations of, the Applicable Premium. 

“Applicable Procedures” means, with respect to any transfer or exchange of or for, redemption of, or notice with respect to
beneficial interests in any Global Note or the redemption or repurchase of any Global Note, the rules and procedures of DTC, the Depositary, Euroclear and/or Clearstream that apply to such transfer, exchange, redemption or repurchase. 

“Applicable Treasury Rate” means, at the time of computation, the weekly average (for the most recently completed week
for which such information is available as of the date that is two Business Days prior to the Redemption Date) of the yield to maturity of United States Treasury securities with a constant maturity (as compiled and published in Federal Reserve
Statistical Release H.15 with respect to each applicable day during such week or, if such Statistical Release is no longer published, any publicly available source of similar market data) most nearly equal to the period from the Redemption Date to
November 15, 2022; provided, however, that if the period from the Redemption Date to November 15, 2022 is not equal to the constant maturity of a United States Treasury security for which a yield is given, the Applicable Treasury
Rate shall be obtained by linear interpolation (calculated to the nearest one-twelfth of a year) from the weekly average yields of United States Treasury securities for which such yields are given, except that
if the period from the Redemption Date to November 15, 2022 is less than one year, the weekly average yield on actually traded United States Treasury securities adjusted to a constant maturity of one year shall be used. 

“Approved Commercial Bank” means a commercial bank with a consolidated combined capital and surplus of at least
$5,000,000,000. 
 “Asset Sale” means: 

(a) the sale, conveyance, transfer or other disposition, whether in a single transaction or a series of related transactions
(including by way of a Sale and Lease-Back Transaction), of property or assets of the Issuer or any of its Restricted Subsidiaries (each referred to in this definition as a “disposition”); or 

(b) the issuance or sale of Equity Interests of any Restricted Subsidiary (other than Preferred Stock or Disqualified Stock of
Restricted Subsidiaries issued in compliance with Section 4.09 hereof), whether in a single transaction or a series of related transactions; 
 in each
case, other than: 
 (i) any disposition of Cash Equivalents or Investment Grade Securities or obsolete, non-core, surplus, damaged, unnecessary, unsuitable or worn out equipment, inventory or other property or any disposition of inventory, goods or other assets held for sale or no longer used or useful, or
economically practical to maintain in the conduct of the business of the Issuer or any of its Restricted Subsidiaries; 

(ii) (A) the disposition of all or substantially all of the assets of the Issuer or any Restricted Subsidiary in a manner
permitted pursuant to Section 5.01 or (B) any disposition that constitutes, or is made in connection with, a Change of Control pursuant to this Indenture; 

(iii) (A) any Permitted Investment and the making of any Restricted Payment that is permitted to be made, and is made,
under Section 4.07 hereof or (B) any disposition the proceeds of which are used to fund a Permitted Investment or the making of a Restricted Payment; 

  
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 (iv) any disposition of property or assets or issuance or sale of Equity
Interests of any Restricted Subsidiary in any transaction or series of related transactions with an aggregate fair market value of less than $40.0 million; 

(v) any disposition of property or assets or issuance of securities by a Restricted Subsidiary to the Issuer or by the Issuer
or a Restricted Subsidiary to a Restricted Subsidiary, including pursuant to any Intercompany License Agreement; 
 (vi) any
swap or exchange of like property for use in a Similar Business; 
 (vii) (A) the lease, assignment, sub-lease, license, sub-license or cross-license of any real or personal property in the ordinary course of business or consistent with industry practices or (B) any
dispositions and/or terminations of leases, sub-leases, licenses or sub-licenses (including the provision of software under an open source license), which (x) do
not materially interfere with the business of the Issuer and its Subsidiaries (taken as a whole) or (y) relate to closed facilities or the discontinuation of any product or service line; 

(viii) any issuance, disposition or sale of Equity Interests in, or Indebtedness or other securities of, an Unrestricted
Subsidiary (or a Restricted Subsidiary which owns an Unrestricted Subsidiary so long as such Restricted Subsidiary owns no assets other than the Equity Interests of such Unrestricted Subsidiary); 

(ix) foreclosures, condemnation, expropriation, forced dispositions, eminent domain or any similar action with respect to
assets or the granting of Liens not prohibited by this Indenture, and transfers of any property that have been subject to a casualty to the respective insurer of such property as part of an insurance settlement or upon receipt of the net proceeds of
such casualty event; 
 (x) [reserved]; 

(xi) any financing transaction with respect to property built or acquired by the Issuer or any Restricted Subsidiary after the
Issue Date, including Sale and Lease-Back Transactions and asset securitizations permitted by this Indenture; 
 (xii) the
sale, discount or other disposition of inventory, accounts receivable, notes receivable, equipment or other assets in the ordinary course of business or consistent with past practice or the conversion of accounts receivable to notes receivable; 

(xiii) the licensing, sub-licensing or cross-licensing of intellectual property or
other general intangibles in the ordinary course of business or consistent with industry practices; 
 (xiv) any surrender or
waiver of contract rights or the settlement, release or surrender of contract rights or other litigation claims in the ordinary course of business or consistent with industry practices; 

(xv) the unwinding or termination of any Hedging Obligations; 

(xvi) sales, transfers and other dispositions of Investments in joint ventures or
non-Wholly-Owned Subsidiaries to the extent required by, or made pursuant to, customary buy/sell arrangements between the joint venture parties set forth in joint venture arrangements and similar binding
arrangements; 
 (xvii) the lapse, cancellation or abandonment of intellectual property rights, which in the reasonable good
faith determination of the Issuer are not material to the conduct of the business of the Issuer and its Restricted Subsidiaries taken as a whole or are no longer used or useful or economically practicable or commercially reasonable to maintain; 

(xviii) the granting of a Lien that is permitted under Section 4.12 hereof; 

  
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 (xix) the issuance of directors’ qualifying shares and shares issued to
foreign nationals or other third parties as required by applicable law; 
 (xx) Permitted Intercompany Activities and related
transactions; 
 (xxi) transfers of property subject to Casualty Events upon receipt of the Net Proceeds of such Casualty
Event; provided that any net Cash Equivalents received by the Issuer or any of its Restricted Subsidiaries in respect of such Casualty Event shall be deemed to be Net Proceeds of an Asset Sale, and such Net Proceeds shall be applied in
accordance with Section 4.10 hereof; 
 (xxii) any disposition to a Captive Insurance Subsidiary; 

(xxiii) any sale of property or assets, if the acquisition of such property or assets was financed with Excluded Contributions
and the proceeds of such sale are used to make a Restricted Payment pursuant to Section 4.07(b)(x)(b); 
 (xxiv) the
disposition of any assets (including Equity Interests) (i) acquired in a transaction after the Issue Date, which assets are not used or useful in the core or principal business of the Issuer and its Restricted Subsidiaries or (ii) made in
connection with the approval of any applicable antitrust authority or otherwise necessary or advisable in the good faith determination of the Issuer to consummate any acquisition; 

(xxv) any disposition of non-revenue producing assets to a Person who is providing
services related to such assets, the provision of which have been or are to be outsourced by the Issuer or any Restricted Subsidiary to such Person; 

(xxvi) any sale, transfer or other disposition to effect the formation of any Subsidiary that has been formed upon the
consummation of a Division; provided that any disposition or other allocation of assets (including any Equity Interests of such Subsidiary) in connection therewith is otherwise not prohibited by this Indenture; 

(xxvii) dispositions of real estate assets and related assets in the ordinary course of business or consistent with past
practice in connection with relocation activities for employees, directors, officers, managers, members, partners, independent contractors or consultants of the Issuer, any direct or indirect parent company or Subsidiary; 

(xxviii) any dispositions of assets in connection with the closing or sale of an office in the ordinary course of business of
the Issuer and its Subsidiaries, which consist of leasehold interests in the premises of such office, the equipment and fixtures located at such premises and the books and records relating exclusively and directly to the operations of such office;

 (xxix) the sale of motor vehicles and information technology equipment purchased at the end of an operating lease and
resold thereafter; 
 (xxx) dispositions in connection with any Permitted Intercompany Activities and related transactions;

 (xxxi) (A) the sale, conveyance or other disposition of advances, MSRs, mortgages, crop, student, consumer or other
loans, customer receivables, mortgage-related securities or derivatives or other assets (or any interests in any of the foregoing) in the ordinary course of business, consistent with past practice or consistent with industry practice, (B) the
sale, transfer or discount in the ordinary course of business, consistent with past practice or consistent with industry practice of accounts receivable or other assets that by their terms convert into cash, (C) any sale of MSRs in connection
with the origination of the associated mortgage loan in the ordinary course of business, consistent with past practice or consistent with industry practice or (D) any sale of securities in respect of additional financing under reverse mortgage
loans in the ordinary course of business, consistent with past practice or consistent with industry practice; 

  
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 (xxxii) the sale, conveyance or other disposition of Investments or other
assets and disposition or compromise of mortgages, other loans or receivables, in each case, in connection with the workout, compromise, settlement or collection thereof or exercise of remedies with respect thereto, in the ordinary course of
business, consistent with past practice or consistent with industry practice or bankruptcy, foreclosure or similar proceedings, including foreclosure, repossession and disposition of REO Assets and other collateral for mortgages and crop, student,
consumer or other loans serviced and/or originated by the Issuer or any of its Subsidiaries; 
 (xxxiii) the modification of
any mortgages and crop, student, consumer or other loans owned or serviced by the Issuer or any of its Restricted Subsidiaries in the ordinary course of business, consistent with past practice or consistent with industry practice; 

(xxxiv) assets sold, conveyed or otherwise disposed of pursuant to the terms of Permitted Funding Indebtedness or Non-Recourse Indebtedness; 
 (xxxv) a sale, conveyance or other disposition (in one or
more transactions) of Securitization Assets or Residual Interests in the ordinary course of business, consistent with past practice or consistent with industry practice; 

(xxxvi) a sale, conveyance or other disposition (in one or more transactions) of Servicing Advances, mortgage loans or MSRs or
any part thereof (A) in connection with the transfer or termination of the related MSRs or (B) in connection with any Excess Spread Sales; 

(xxxvii) sales, transfers or contributions of Securitization Assets to Securitization Entities, Warehouse Facility Trusts and
MSR Facility Trust in connection with Securitizations in the ordinary course of business, consistent with past practice or consistent with industry practice; 

(xxxviii) a sale, conveyance or other disposition of Securitization Assets in the ordinary course of business, consistent with
past practice or consistent with industry practice in connection with the origination, acquisition, securitization and/or sale of mortgages, loans that are purchased, insured, guaranteed, or securitized; 

(xxxix) a sale, contribution, assignment or other transfer of MSRs in connection with MSR Facilities or a sale, conveyance or
other disposition of MSRs in connection with Warehouse Facilities or REO Assets in the ordinary course of business, consistent with past practice or consistent with industry practice; 

(xl) transactions pursuant to repurchase agreements entered into in the ordinary course of business, consistent with past
practice or consistent with industry practice; and 
 (xli) any Co-Investment
Transaction. 
 In the event that a transaction (or a portion thereof) meets the criteria of a permitted Asset Sale and would also be a
permitted Restricted Payment or Permitted Investment, the Issuer, in its sole discretion, will be entitled to divide and classify such transaction (or a portion thereof) as an Asset Sale and/or one or more of the types of permitted Restricted
Payments or Permitted Investments. 
 In the event that a transaction (or a portion thereof) meets the criteria of more than one of the
categories of permitted Asset Sale described in clauses (i) through (xli) above or the Net Proceeds of which are being applied in accordance with Section 4.10 hereof, the Issuer, in its sole discretion, may divide or classify, and may from
time to time redivide and reclassify, such permitted Asset Sale (or any portion thereof) and will only be required to include the amount and type of such permitted Asset Sale in one or more of the above clauses or to apply the Net Proceeds of which
in accordance with Section 4.10 hereof. 

  
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 “Bank Products” means any facilities or services related to cash
management, including treasury, depository, overdraft, credit or debit card, purchase card, automatic clearinghouse transfer transactions, controlled disbursements, foreign exchange facilities, stored value cards, merchant services, electronic funds
transfer and other cash management or similar arrangements. 
 “Bankruptcy Code” means Title 11, U.S. Code, as amended.

 “Bankruptcy Law” means the Bankruptcy Code or any similar federal, state or applicable
non-U.S. law for the relief of debtors. 
 “Blackstone Funds” means, individually
or collectively, The Blackstone Group Inc. and its Affiliates and any investment fund, co-investment vehicles and/or other similar vehicles or accounts, in each case managed or advised by The Blackstone Group
Inc. or one or more of its Affiliates, or any successors of any of the foregoing. 
 “Board” with respect to a Person means
the board of directors, board of managers, sole member or managing member or other governing body of such Person, or if such Person is owned or managed by a single entity or has a general partner, the board of directors, board of managers, sole
member or managing member or other governing body of such entity or general partner, or in each case, any duly authorized committee thereof, and the term “director” means a member of the applicable Board. 

“Broker-Dealer Subsidiary” means any Subsidiary of the Issuer that is a broker-dealer, state chartered trust company,
national trust company or thrift limited to trust powers. 
 “Business Day” means each day which is not a Legal Holiday.

 “Business Expansion” means (a) each facility which is either a new facility, branch or office or an expansion,
relocation, remodeling or substantial modernization of an existing facility, branch or office owned by the Issuer or a Restricted Subsidiary and (b) each creation or expansion into new markets (in one or a series of related transactions) of a
business unit to the extent such business unit commences operations or each expansion (in one or a series of related transactions) of business into a new market. 

“Capital Stock” means: 

(a) in the case of a corporation, corporate stock or shares in the capital of such corporation; 

(b) in the case of an association or business entity, any and all shares, interests, participations, rights or other
equivalents (however designated) of corporate stock; 
 (c) in the case of a partnership or limited liability company,
partnership or membership interests (whether general or limited); and 
 (d) any other interest or participation that confers
on a Person the right to receive a share of the profits and losses of, or distributions of assets of, the issuing Person. 

“Capitalized Software Expenditures” means, for any period, the aggregate of all expenditures (whether paid in cash or accrued
as liabilities) by a Person and its Restricted Subsidiaries during such period in respect of licensed or purchased software or internally developed software and software enhancements that, in conformity with GAAP, are or are required to be reflected
as capitalized costs on the consolidated balance sheet of a Person and its Restricted Subsidiaries. 
 “Captive Insurance
Subsidiary” means (i) any Subsidiary of the Issuer operating for the purpose of (a) insuring the businesses, operations or properties owned or operated by the Issuer or any of its Subsidiaries, including their future, present or
former employees, directors, officers, managers, members, partners, independent contractors or consultants, and related benefits and/or (b) conducting any activities or business incidental thereto (it being understood and agreed that activities
which are relevant or appropriate to qualify as an insurance company for U.S. federal or state tax purposes shall be considered “activities or business incidental thereto”) or (ii) any Subsidiary of any such insurance subsidiary
operating for the same purpose described in clause (i) above. 

  
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 “Cash Equivalents” means: 

(a) United States dollars; 

(b)        (i) Canadian dollars, pounds sterling, yen, euros or any national currency
of any participating member state of the EMU; or 
 (ii) such other currencies held by the Issuer or any Restricted
Subsidiary from time to time in the ordinary course of business or consistent with industry practice; 
 (c) securities
issued or directly and fully and unconditionally guaranteed or insured by the U.S. government or any agency or instrumentality thereof the securities of which are unconditionally guaranteed as a full faith and credit obligation of such government
with maturities of 24 months or less from the date of acquisition; 
 (d) certificates of deposit, time deposits and
eurodollar time deposits with maturities of 24 months or less from the date of acquisition, demand deposits, bankers’ acceptances with maturities not exceeding 24 months and overnight bank deposits, in each case with any domestic or foreign
commercial bank having capital and surplus of not less than $100 million (or the foreign currency equivalent as of the date of determination); 

(e) repurchase obligations for underlying securities of the types described in clauses (c), (d), (g) and (h) of this
definition entered into with any financial institution or recognized securities dealer meeting the qualifications specified in clause (d) above; 

(f) commercial paper and variable or fixed rate notes rated at least P-2 by
Moody’s or at least A-2 by S&P (or, if at any time neither Moody’s nor S&P shall be rating such obligations, an equivalent rating from another Rating Agency) and in each case maturing within
24 months after the date of creation thereof; 
 (g) marketable short-term money market and similar funds having a rating of
at least P-2 or A-2 from either Moody’s or S&P, respectively (or, if at any time neither Moody’s nor S&P shall be rating such obligations, an
equivalent rating from another Rating Agency); 
 (h) readily marketable direct obligations issued by, or unconditionally
guaranteed by, any state, commonwealth or territory of the United States or any political subdivision, public instrumentality or taxing authority thereof with maturities of 24 months or less from the date of acquisition; 

(i) readily marketable direct obligations issued by, or unconditionally guaranteed by, any foreign government or any political
subdivision, public instrumentality or taxing authority thereof, in each case (other than in the case of such obligations issued or guaranteed by any participating member state of the EMU) having an Investment Grade Rating from either Moody’s
or S&P (or, if at any time neither Moody’s nor S&P shall be rating such obligations, an equivalent rating from another Rating Agency) with maturities of 24 months or less from the date of acquisition; 

(j) Investments with average maturities of 24 months or less from the date of acquisition in money market funds rated A (or the
equivalent thereof) or better by S&P or A2 (or the equivalent thereof) or better by Moody’s (or, if at any time neither Moody’s nor S&P shall be rating such obligations, an equivalent rating from another Rating Agency); 

  
 -7- 

 (k) securities with maturities of 24 months or less from the date of
acquisition backed by standby letters of credit issued by any financial institution or recognized securities dealer meeting the qualifications specified in clause (d) above; 

(l) Indebtedness or Preferred Stock issued by Persons with a rating of “A” or higher from S&P or “A2”
or higher from Moody’s with maturities of 24 months or less from the date of acquisition; and 
 (m) investment funds
investing at least 90% of their assets in currencies, instruments or securities of the types described in clauses (a) through (l) above. 

In the case of Investments by any Foreign Subsidiary that is a Restricted Subsidiary or Investments made in a country outside the United
States of America, Cash Equivalents shall also include (i) investments of the type and maturity described in clauses (a) through (h) and clauses (j), (k), (l) and (m) above of foreign obligors, which Investments or obligors (or the
parents of such obligors) have ratings described in such clauses or equivalent ratings from comparable foreign rating agencies and (ii) other short-term investments utilized by Foreign Subsidiaries that are Restricted Subsidiaries in accordance
with normal investment practices for cash management in investments analogous to the foregoing investments in clauses (a) through (m) and in this paragraph. 

In addition, in the case of Investments by any Captive Insurance Subsidiary, Cash Equivalents shall also include (a) such Investments
with average maturities of 12 months or less from the date of acquisition in issuers rated BBB- (or the equivalent thereof) or better by S&P or Baa3 (or the equivalent thereof) or better by Moody’s,
in each case at the time of such Investment and (b) any Investment with a maturity of more than 12 months that would otherwise constitute Cash Equivalents of the kind described in any of clauses (a) through (m) of this definition or
clause (a) above, if the maturity of such Investment was 12 months or less; provided that the effective maturity of such Investment does not exceed 15 years. 

Notwithstanding the foregoing, Cash Equivalents shall include amounts denominated in currencies other than those set forth in clauses
(a) and (b) above, provided that such amounts are converted into any currency listed in clauses (a) and (b) as promptly as practicable and in any event within ten Business Days following the receipt of such amounts. 

For the avoidance of doubt, any items identified as Cash Equivalents under this definition will be deemed to be Cash Equivalents for all
purposes under this Indenture regardless of the treatment of such items under GAAP. 
 “Casualty Event” means any event
that gives rise to the receipt by the Issuer or any Restricted Subsidiary of any insurance proceeds or condemnation awards in respect of any equipment, fixed assets or real property (including any improvements thereon) to replace or repair such
equipment, fixed assets or real property. 
 “CFC” means a “controlled foreign corporation” within the meaning of
Section 957 of the Code. 
 “Change of Control” means the occurrence of any of the following after the Issue Date:

 (a) the sale, lease, transfer, conveyance or other disposition in one or a series of related transactions (other than by
merger, consolidation or amalgamation), of all or substantially all of the assets of the Issuer and its Subsidiaries, taken as a whole (net of any associated non-recourse or secured obligations), other than
any Required Asset Sale, to any Person other than any Permitted Holder, the Issuer or any Subsidiary Guarantor; provided that such sale, lease, transfer, conveyance or other disposition shall not constitute a Change of Control unless any
Person (other than any Permitted Holder or a Holding Company) or Persons (other than any Permitted Holders or a Holding Company) that are together a group (within the meaning of Section 13(d)(3) or Section 14(d)(2) of the Exchange Act, or
any successor provision), including any such group acting for the purpose of acquiring, holding or disposing of securities (within the meaning of Rule 13d-5(b)(1) under the Exchange Act), becomes the
beneficial owner (within the meaning of Rule 13d-3 under the Exchange Act, or any successor provision), directly or indirectly, of more than 50% of the total voting power of the Voting Stock of the transferee
Person in such sale, lease, transfer, conveyance or other disposition of assets, as the case may be; or 

  
 -8- 

 (b) the Issuer becomes aware of (by way of a report or any other filing
pursuant to Section 13(d) of the Exchange Act, proxy, vote, written notice or otherwise) the acquisition by (A) any Person (other than any Permitted Holder) or (B) Persons (other than any Permitted Holders) that are together a group
(within the meaning of Section 13(d)(3) or Section 14(d)(2) of the Exchange Act, or any successor provision), including any such group acting for the purpose of acquiring, holding or disposing of securities (within the meaning of Rule 13d-5(b)(1) under the Exchange Act), in a single transaction or in a related series of transactions, by way of merger, consolidation or other business combination or purchase of beneficial ownership (within the
meaning of Rule 13d-3 under the Exchange Act, or any successor provision) of more than 50% of the total voting power of the Voting Stock of the Issuer directly or indirectly through any of its direct or
indirect parent holding companies, in each case, other than in connection with any transaction or series of transactions in which the Issuer shall become a Subsidiary of a Holding Company. 

Notwithstanding the preceding or any provision of Rule 13d-3 or
13d-5 of the Exchange Act, (i) a Person or group shall not be deemed to beneficially own Voting Stock subject to an equity or asset purchase agreement, merger agreement, option agreement, warrant
agreement or similar agreement (or voting or option or similar agreement related thereto) until the consummation of the acquisition of the Voting Stock in connection with the transactions contemplated by such agreement, (ii) if any group (other
than a Permitted Holder) includes one or more Permitted Holders, the issued and outstanding Voting Stock of the Issuer owned, directly or indirectly, by any Permitted Holders that are part of such group shall not be treated as being beneficially
owned by such group or any other member of such group for purposes of determining whether a Change of Control has occurred and (iii) a Person or group will not be deemed to beneficially own the Voting Stock of another Person as a result of its
ownership of Voting Stock or other securities of such other Person’s parent entity (or related contractual rights) unless it owns 50% or more of the total voting power of the Voting Stock entitled to vote for the election of directors of such
parent entity having a majority of the aggregate votes on the Board of such parent entity. 
 The Equity Transactions shall not constitute a
Change of Control. 
 “Clearstream” means Clearstream Banking, a société anonyme as currently in effect or
any successor securities clearing agency. 
 “Code” means the United States Internal Revenue Code of 1986, as amended. 

“consolidated”, unless otherwise specifically indicated, when used with respect to any Person refers to such Person
consolidated with its Restricted Subsidiaries. 
 “Co-Investment Transaction” means
a transaction pursuant to which a portion of MSRs or the right to receive fees in respect of MSRs are transferred for fair value to another Person. 

“Consolidated Depreciation and Amortization Expense” means with respect to any Person for any period, the total amount of
depreciation and amortization expense and capitalized fees, including, without limitation, the amortization of capitalized fees or costs related to any Securitization, the amortization of media development costs, intangible assets, deferred
financing fees or costs, debt issuance costs, commissions, fees and expenses and Capitalized Software Expenditures of such Person and its Restricted Subsidiaries for such period on a consolidated basis and otherwise determined in accordance with
GAAP. 
 “Consolidated Interest Expense” means, with respect to any Person for any period, without duplication, the sum of:

 (a) consolidated interest expense of such Person and its Restricted Subsidiaries for such period, to the extent such
expense was deducted (and not added back) in computing Consolidated Net Income (including (i) amortization of original issue discount resulting from the issuance of Indebtedness at less than par, (ii) all commissions, discounts and other
fees and charges owed with respect to letters of credit or bankers acceptances, (iii) non-cash interest payments (but excluding any non-cash interest expense
attributable to the movement in mark-to-market valuation of Hedging Obligations or other derivative instruments pursuant to GAAP), (iv) the interest component of
Financing Lease Obligations, and (v) net payments, if 

  
 -9- 

 
any made (less net payments, if any, received), pursuant to interest rate Hedging Obligations with respect to Indebtedness, and excluding (o) annual agency or similar fees paid to the
administrative agents, collateral agents and other agents under any Credit Facilities, (p) any additional interest with respect to failure to comply with any registration rights agreement owing with respect to any securities, (q) costs
associated with obtaining Hedging Obligations, (r) any expense resulting from the discounting of any Indebtedness in connection with the application of recapitalization accounting or, if applicable, purchase or acquisition accounting in
connection with any acquisition or other transaction, (s) penalties and interest relating to taxes, (t) any “additional interest” or “liquidated damages” with respect to other securities for failure to timely comply
with registration rights obligations, (u) amortization or expensing of deferred financing fees, amendment and consent fees, debt issuance costs, commissions, fees, expenses and discounted liabilities and any other amounts of non-cash interest, (v) any expensing of bridge, commitment and other financing fees and any other fees related to any acquisition or other transaction, (w) commissions, discounts, yield and other fees and
charges (including any interest expense) related to any Securitization, (x) any accretion of accrued interest on discounted liabilities and any prepayment, make-whole or breakage premium, penalty or cost, (y) interest expense attributable
to a parent entity resulting from push-down accounting and (z) any lease, rental or other expense in connection with a Non-Financing Lease Obligation; plus 

(b) consolidated capitalized interest of such Person and its Restricted Subsidiaries for such period, whether paid or accrued;
less 
 (c) interest income of such Person and its Restricted Subsidiaries for such period. 

For purposes of this definition, interest on a Financing Lease Obligation shall be deemed to accrue at an interest rate reasonably determined
by such Person to be the rate of interest implicit in such Financing Lease Obligation in accordance with GAAP (or, if not implicit, as otherwise determined in accordance with GAAP). 

“Consolidated Net Income” means, with respect to any Person for any period, the aggregate of the Net Income of such Person
and its Restricted Subsidiaries for such period, on a consolidated basis, and otherwise determined in accordance with GAAP; provided that, without duplication: 

(a) any after-tax effect of extraordinary, exceptional, infrequently occurring, non-recurring or unusual gains or losses (less all fees and expenses relating thereto, but including any extraordinary, exceptional, infrequently occurring, non-recurring or
unusual operating expenses directly attributable to the implementation of cost savings initiatives and any accruals or reserves in respect of any extraordinary, exceptional, infrequently occurring,
non-recurring or unusual items), charges or expenses (including relating to any strategic initiatives), restructuring and duplicative running costs, restructuring charges or reserves, relocation costs, start-up or initial costs for any project or new production line, division or new line of business, integration and facilities opening costs, facility consolidation and closing costs, severance costs and expenses, one-time charges (including compensation charges), payments made pursuant to the terms of change in control agreements that the Issuer or a Subsidiary or a parent entity of the Issuer had entered into with any
future, present or former employees, directors, officers, managers, members, partners, independent contractors or consultants of the Issuer, a Subsidiary or a parent entity of the Issuer, costs relating to
pre-opening, opening and conversion costs for facilities, losses, costs or cost inefficiencies related to facility or property disruptions or shutdowns, signing, retention and completion bonuses, recruiting
costs, costs incurred in connection with any strategic initiatives, transition costs, litigation and arbitration costs, charges, fees and expenses (including settlements), expenses in connection with one-time
rate changes, costs incurred in connection with acquisitions, investments and dispositions (including travel and out-of-pocket costs, professional fees for legal,
accounting and other services, human resources costs (including relocation bonuses), litigation and arbitration costs, charges, fees and expenses (including settlements), management transition costs, advertising costs, losses associated with
temporary decreases in work volume and expenses related to maintaining underutilized personnel) and non-recurring product and intellectual property development, other business optimization expenses or reserves
(including costs and expenses relating to business optimization programs and new systems design and costs or reserves associated with improvements to IT and accounting functions, retention charges (including charges or expenses in respect of
incentive plans), system establishment costs and implementation costs) and costs, charges or expenses attributable to the implementation of cost-savings initiatives or operating expense reductions, product margin synergies and other synergies and
similar initiatives and other expenses relating to the realization of synergies, and curtailments or modifications to pension and post-retirement employee benefit plans shall be excluded; 

  
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 (b) at the election of the Issuer with respect to any quarterly period, the
cumulative effect of a change in accounting principles and changes as a result of the adoption or modification of accounting policies (including, but not limited to, the impact of Accounting Standards Update
2016-12 Revenue from Contracts with Customers (Topic 606) or similar revenue recognition policies promulgated or that become effective) during any such period shall be excluded; 

(c) any net after-tax effect of gains or losses on (i) disposal, abandonment or
discontinuance of disposed, abandoned or discontinued operations, as applicable, and any accretion or accrual of discontinued liabilities on the disposal of such disposed, abandoned and discontinued operation and (ii) facilities or distribution
centers that have been closed during such period, shall be excluded; 
 (d) any net
after-tax effect of gains or losses (less all fees, expenses and charges relating thereto) attributable to (i) asset dispositions or abandonments or the sale or other disposition of any Capital Stock of
any Person or (ii) returned surplus assets of any pension plan, in each case other than in the ordinary course of business shall be excluded; 

(e) the Net Income for such period of any Person that is not a Subsidiary, or is an Unrestricted Subsidiary, or that is
accounted for by the equity method of accounting shall be excluded; provided that Consolidated Net Income of such Person shall be increased by the amount of dividends or distributions or other payments (other than Excluded Contributions
pursuant to clause (b) of the definition of “Excluded Contributions”) that are actually paid in Cash Equivalents (or to the extent converted, or having the ability to be converted, into Cash Equivalents), or that could, in the
reasonable determination of the Issuer, have been distributed, to such Person or a Restricted Subsidiary thereof in respect of such period; 

(f) solely for the purpose of determining the amount available for Restricted Payments under clause (C)(1) of
Section 4.07(a) hereof, the Net Income for such period of any Restricted Subsidiary (other than any Subsidiary Guarantor) shall be excluded to the extent that the declaration or payment of dividends or similar distributions by that Restricted
Subsidiary of its Net Income is not at the date of determination permitted without any prior governmental approval (which has not been obtained) or, directly or indirectly, by the operation of the terms of its charter or any agreement, instrument,
judgment, decree, order, statute, rule, or governmental regulation applicable to that Restricted Subsidiary or its stockholders (other than restrictions in the Notes or this Indenture), unless such restriction with respect to the payment of
dividends or similar distributions has been legally waived or released (or such Person reasonably believes such restriction could be waived or released and is using commercially reasonable efforts to pursue such waiver or release) or such
restriction is not prohibited pursuant to Section 4.08; provided that Consolidated Net Income of such Person will be increased by the amount of dividends or other distributions or other payments actually paid in Cash Equivalents (or to
the extent converted, or having the ability to be converted, into Cash Equivalents) to such Person or a Restricted Subsidiary thereof in respect of such period, to the extent not already included therein; 

(g) effects of adjustments (including the effects of such adjustments pushed down to such Person and its Restricted
Subsidiaries) in such Person’s consolidated financial statements pursuant to GAAP (including in the inventory (including any impact of changes to inventory valuation policy methods, including changes in capitalization of variances), property
and equipment, software, loans and leases, goodwill, intangible assets, in-process research and development, deferred revenue and debt line items thereof) resulting from the application of recapitalization
accounting or purchase or acquisition accounting, as the case may be, in relation to any consummated acquisition, joint venture investment or other transaction or the amortization or write-off or write-down of
any amounts thereof, net of taxes, shall be excluded; 
 (h) any after-tax effect of
income (loss) from the extinguishment or conversion of (i) Indebtedness, (ii) Hedging Obligations or (iii) other derivative instruments shall be excluded; 

  
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 (i) any impairment charge or asset
write-off or write-down, including impairment charges or asset write-offs or write-downs related to goodwill, intangible assets, long-lived assets, investments in debt and equity securities and investments
recorded using the equity method or as a result of a change in law or regulation, in each case, pursuant to GAAP, and the amortization of intangibles arising pursuant to GAAP shall be excluded; 

(j) any equity-based or non-cash compensation or similar charge or expense or reduction
of revenue including any such charge, expense or amount arising from grants of stock appreciation or similar rights, stock options, restricted stock, profits interests or other rights or equity- or equity-based incentive programs (“equity
incentives”), any other management or employee benefit plan or agreement, pension plan or other long-term or post-employment plan, any one-time cash charges associated with the equity incentives or
other long-term incentive compensation plans (including under deferred compensation arrangements of the Issuer or any of its direct or indirect parent entities or subsidiaries), roll-over, acceleration, or payout of Equity Interests by future,
present or former employees, directors, officers, managers, members, partners, independent contractors or consultants or business partners of the Issuer or any of its direct or indirect parent entities or subsidiaries, and any cash awards granted to
future, present or former employees, directors, officers, managers, members, partners, independent contractors or consultants of the Issuer, its Subsidiaries or any of its direct or indirect parent entities in replacement for forfeited awards, shall
be excluded; 
 (k) any fees, expenses, costs, premiums or charges incurred during such period, or any amortization thereof
for such period, in connection with any acquisition, recapitalization, Investment, Asset Sale, disposition, option buyout, incurrence or repayment of Indebtedness (including such fees, expenses, premiums or charges related to (A) the offering
and issuance of the Notes and other securities and the syndication and incurrence of any Credit Facilities and (B) the rating of the Notes, other securities or any Credit Facilities by the Rating Agencies), issuance of Equity Interests of the
Issuer or its direct or indirect parent entities, refinancing transaction or amendment or modification of any debt instrument (including any amendment or other modification of the Notes and other securities and any Credit Facilities) or other
transaction and including, in each case, any such transaction consummated on or prior to the Issue Date and any such transaction undertaken but not completed, any Public Company Costs and any charges or
non-recurring merger costs incurred during such period as a result of any such transaction, in each case whether or not successful or consummated (including, for the avoidance of doubt the effects of expensing
all transaction related expenses in accordance with Financial Accounting Standards Board Accounting Standards Codification Topic No. 805, Business Combinations), shall be excluded; 

(l) accruals and reserves that are established or adjusted in connection with, or within twenty-four months after the closing
of, any acquisition or transaction that are so required to be established or adjusted as a result of such acquisition or transaction in accordance with GAAP or changes as a result of modifications of accounting policies shall be excluded; 

(m) any expenses, charges or losses to the extent covered by insurance or indemnity and actually reimbursed, or, so long as
such Person has made a determination that there exists reasonable evidence that such amount will in fact be reimbursed by the insurer or indemnifying party and only to the extent that such amount is in fact reimbursed within 365 days of the date of
the insurable or indemnifiable event (net of any amount so added back in any prior period to the extent not so reimbursed within the applicable 365-day period), shall be excluded; 

(n) any noncash compensation expense resulting from the application of Accounting Standards Codification Topic No. 718,
Compensation — Stock Compensation or any other applicable accounting principle relating to the expensing of equity-related compensation, shall be excluded; 

(o) any net pension or post-employment benefit costs representing amortization of unrecognized prior service costs, actuarial
losses, including amortization of such amounts arising in prior periods, amortization of the unrecognized net obligation (and loss or cost) existing at the date of initial application of Statement of Financial Accounting Standards No. 87, 106
and 112; and any other items of a similar nature, shall be excluded; 

  
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 (p) the following items shall be excluded (including for mortgage assets,
other loan assets or related securities held for investment): 
 (i) any realized or unrealized net gain or loss (after any
offset) resulting in such period from Hedging Obligations and the application of Accounting Standards Codification Topic No. 815, Derivatives and Hedging or any other comparable applicable accounting standard; 

(ii) any realized or unrealized net gain or loss (after any offset) resulting in such period from currency translation or
transaction gains or losses including those related to currency remeasurements of Indebtedness (including any net loss or gain resulting from Hedging Obligations for currency exchange risk and those resulting from intercompany Indebtedness) and any
other foreign currency translation or transactions gains and losses to the extent such gains or losses are non-cash items; 

(iii) any adjustments resulting for the application of Accounting Standards Codification Topic No. 460, Guarantees,
or any comparable applicable accounting standard; 
 (iv) at the election of the Issuer with respect to any quarterly period,
effects of adjustments to accruals and reserves during a prior period relating to any change in the methodology of calculating reserves for returns, rebates and other chargebacks; and 

(v) earn-out, non-compete and contingent
consideration obligations (including to the extent accounted for as bonuses or otherwise) and adjustments thereof (including as a result of a change in fair value) and purchase price adjustments; 

(q) if such Person is treated as a disregarded entity or partnership for U.S. federal, state and/or local income tax purposes
for such period or any portion thereof, the amount of distributions actually made to any direct or indirect parent company of such Person in respect of such period in accordance with clause (xx) of Section 4.07(b) hereof shall be included
in calculating Consolidated Net Income as though such amounts had been paid as taxes directly by such Person for such period; 

(r) any deferred tax expense associated with tax deductions or net operating losses arising as a result of the Equity
Transactions, or the release of any valuation allowance related to such item shall be excluded; 
 (s) any gain or loss
related to change in valuation allowance for, or any market or model input-driven change in fair value of, (i) mortgage loans, reverse mortgage loans and securities
held-for-sale or held-for-investment and (ii) corresponding debt in relation to
securitized loans in accordance with GAAP that require no additional capital or equity contributions to such Person, in each case, shall be excluded; 

(t) any gain or loss related to market or model-input driven change in fair value of MSRs or the amortization of MSRs shall be
excluded; 
 (u) any gain or loss related to the fair market value of economic hedges related to MSRs or other mortgage
related assets or securities, to the extent that such other mortgage related assets or securities are valued at fair market value and gains and losses with respect to such related assets or securities have been excluded pursuant to another clause of
this provision shall be excluded; 
 (v) any income or loss related to Required Asset Sales shall be excluded; 

(w) the effect of any gain or loss associated with (i) liabilities created in respect of a
Co-Investment Transaction or (ii) MSR financing liabilities, in each case, as a result of the accounting treatment thereof under GAAP shall be excluded; and 

  
 -13- 

 (x) any gain or loss related to change in fair value of minority (i.e., non-consolidated) investments shall be excluded. 
 In addition, to the extent not already included in the
Consolidated Net Income of such Person and its Restricted Subsidiaries, notwithstanding anything to the contrary in the foregoing, Consolidated Net Income shall include the amount of proceeds received or due from business interruption insurance and
reimbursements of any expenses and charges that are covered by indemnification or other reimbursement provisions in connection with any acquisition, Investment or any sale, conveyance, transfer or other disposition of assets permitted under this
Indenture. 
 Notwithstanding the foregoing, for the purpose of Section 4.07 hereof only (other than clause (C)(4) of
Section 4.07(a) hereof), there shall be excluded from Consolidated Net Income any income arising from any sale or other disposition of Restricted Investments made by the Issuer and its Restricted Subsidiaries, any repurchases and redemptions of
Restricted Investments from the Issuer and its Restricted Subsidiaries, any repayments of loans and advances which constitute Restricted Investments by the Issuer or any of its Restricted Subsidiaries, any sale of the stock of an Unrestricted
Subsidiary or any distribution or dividend from an Unrestricted Subsidiary, in each case only to the extent such amounts increase the amount of Restricted Payments permitted under such covenant pursuant to clause (C)(4) of Section 4.07(a)
hereof. 
 “Consolidated Total Debt Ratio” means, as of any date of determination, the ratio of (1) Consolidated Total
Indebtedness of the Issuer and its Restricted Subsidiaries as of such date of determination minus Cash Equivalents that would be stated on the balance sheet of the Issuer and its Restricted Subsidiaries as of such date of determination, in
each case with such pro forma adjustments as are appropriate and consistent with the pro forma adjustment provisions set forth in the definition of Fixed Charge Coverage Ratio and as determined in good faith by the Issuer to (2) LTM EBITDA.

 “Consolidated Total Indebtedness” means, as of any date of determination, an amount equal to the aggregate amount of all
outstanding Corporate Indebtedness of the Issuer and its Restricted Subsidiaries on a consolidated basis consisting of Indebtedness for borrowed money, Obligations in respect of Financing Lease Obligations and debt obligations evidenced by bonds,
notes, debentures, promissory notes and similar instruments, as determined in accordance with GAAP (excluding for the avoidance of doubt all undrawn amounts under revolving credit facilities and letters of credit, and all obligations relating to
Securitizations and Non-Financing Lease Obligations and excluding the effects of any discounting of Indebtedness resulting from the application of repurchase or purchase or acquisition accounting in connection
with any acquisition or other transaction); provided, that Consolidated Total Indebtedness shall not include Indebtedness in respect of (A) any letter of credit, except to the extent of unreimbursed amounts under standby letters of
credit, provided that any unreimbursed amounts under commercial letters of credit shall not be counted as Consolidated Total Indebtedness until five Business Days after such amount is drawn and (B) Hedging Obligations. The
U.S. Dollar Equivalent principal amount of any Indebtedness denominated in a foreign currency will reflect the currency translation effects, determined in accordance with GAAP, of Hedging Obligations for currency exchange risks with respect to
the applicable currency in effect on the date of determination of the U.S. Dollar Equivalent principal amount of such Indebtedness. 

“Contingent Obligations” means, with respect to any Person, any obligation of such Person guaranteeing any leases, dividends
or other obligations that do not constitute Indebtedness (“primary obligations”) of any other Person (the “primary obligor”) in any manner, whether directly or indirectly, including, without limitation, any
obligation of such Person, whether or not contingent: 
 (a) to purchase any such primary obligation or any property
constituting direct or indirect security therefor; 
 (b) to advance or supply funds: 

(i) for the purchase or payment of any such primary obligation; or 

  
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 (ii) to maintain working capital or equity capital of the primary obligor or
otherwise to maintain the net worth or solvency of the primary obligor; or 
 (c) to purchase property, securities or
services primarily for the purpose of assuring the owner of any such primary obligation of the ability of the primary obligor to make payment of such primary obligation against loss in respect thereof. 

“Controlled Investment Affiliate” means, as to any Person, any other Person, other than any Investor, which directly or
indirectly is in control of, is controlled by, or is under common control with such Person and is organized by such Person (or any Person controlling such Person) primarily for making direct or indirect equity or debt investments in the Issuer
and/or other companies. 
 “Corporate Trust Office” means the office of the Trustee at which any time its corporate trust
business related to this Indenture shall be administered, which office at the date hereof is (a) solely for purposes of the transfer, exchange, or surrender of the Notes, 1 Federal Street, Boston, MA 02210, Attention: Global Corporate Trust
Services – Finance of America Funding LLC–, and (b) for all other purposes, 111 Fillmore Avenue, St. Paul, MN 55107, Attention: Global Corporate Trust Services – Finance of America Funding LLC , or such other address as the
Trustee may designate from time to time by notice to the Holders and the Issuer, or the principal corporate trust office of any successor Trustee (or such other address as such successor Trustee may designate from time to time by notice to the
Holders and the Issuer). 
 “Corporate Indebtedness” means, with respect to any Person, the aggregate consolidated amount
of Indebtedness of such Person and its Restricted Subsidiaries then outstanding that would be shown on a consolidated balance sheet of such Person and its Restricted Subsidiaries (excluding, for the purpose of this definition, Indebtedness incurred
under clauses (iv), (ix), (x), (xvii) (to the extent the underlying Indebtedness is one of the other exceptions included in this parenthetical), (xxx), (xxxi), (xxxii) and (xxxiv) of Section 4.09(b). 

“Credit Enhancement Agreements” means, collectively, any documents, instruments, guarantees or agreements entered into
by the Issuer, any of its Restricted Subsidiaries or any Securitization Entity for the purpose of providing credit support (that is reasonably customary as determined by Issuer’s senior management) with respect to any Permitted Funding
Indebtedness or Permitted Securitization Indebtedness. 
 “Credit Facilities” means, with respect to the Issuer or any of
its Restricted Subsidiaries, one or more debt facilities or other financing arrangements (including, without limitation, commercial paper facilities, agreements or indentures) providing for revolving credit loans, term loans, letters of credit or
other long-term indebtedness, including any notes, mortgages, guarantees, collateral documents, instruments and agreements executed in connection therewith, and any amendments, supplements, modifications, extensions, renewals, restatements or
refundings thereof, in whole or in part, and any indentures, agreements, credit facilities or commercial paper facilities that replace, refund, supplement, extend, amend, restate or refinance any part of the loans, notes, other credit facilities or
commitments thereunder, including any such replacement, refunding, supplemental, extending, amended, restating or refinancing facility, arrangement, agreement or indenture that increases the amount permitted to be borrowed or issued thereunder or
alters the maturity thereof (provided that such increase in borrowings or issuances is permitted under Section 4.09 hereof) or adds Restricted Subsidiaries as additional borrowers or guarantors thereunder and whether by the same or any
other agent, trustee, lender or group of lenders or other holders or investors. 
 “Custodian” means the Trustee, as
custodian with respect to the Notes, each in global form, or any successor entity thereto. 
 “Customary Bridge Loans”
means customary bridge loans with a maturity date of no longer than one year; provided that, subject to customary conditions, such bridge loans would either be converted into or required to be exchanged for permanent financing in the form of a loan,
note, security or other Indebtedness (a) the Weighted Average Life to Maturity of which is not shorter than the Weighted Average Life to Maturity of the Notes and (b) the final maturity date of which is not earlier than the maturity date
of the Notes, in each case, on the date of the incurrence of such bridge loans. 

  
 -15- 

 “Debt Fund Affiliate” means (i) any fund or client managed by, or
under common management with GSO Capital Partners LP, Blackstone Real Estate Special Situations Advisors L.L.C. and Blackstone Tactical Opportunities Fund L.P., (ii) any fund or client managed by an adviser within the credit focused division of The
Blackstone Group Inc. or Blackstone ISG-I Advisors L.L.C., (iii) The Blackstone Strategic Opportunity Funds (including masters, feeders, on-shore, offshore and parallel
funds), (iv) funds and accounts managed by Blackstone Alternative Solutions, L.L.C. or its Affiliates and (v) any other Affiliate of the Investors or the Issuer that is a bona fide debt fund or an investment vehicle that is engaged in the
making, purchasing, holding or otherwise investing in commercial loans, bonds and similar extensions of credit in the ordinary course. 

“Default” means any event that is, or with the passage of time or the giving of notice or both would be, an Event of Default;
provided that any Default that results solely from the taking of an action that would have been permitted but for the continuation of a previous Default will be deemed to be cured if such previous Default is cured prior to becoming an Event
of Default. 
 “Definitive Note” means a certificated Note registered in the name of the Holder thereof and issued in
accordance with Section 2.06(d) hereof, substantially in the form of Exhibit A hereto, except that such Note shall not bear the Global Note Legend and shall not have the “Schedule of Exchanges of Interests in the Global Note”
attached thereto. 
 “Derivative Instrument” means, with respect to a Person, any contract, instrument or other right to
receive payment or delivery of cash or other assets to which such Person or any Affiliate of such Person that is acting in concert with such Person in connection with such Person’s investment in the Notes (other than a Regulated Bank or
Screened Affiliate) is a party (whether or not requiring further performance by such Person), the value and/or cash flows of which (or any material portion thereof) are materially affected by the value and/or performance of the Notes and/or the
creditworthiness of the Issuer and/or any one or more of the Guarantors (the “Performance References”). 

“Depositary” means, with respect to the Notes issuable or issued in whole or in part in global form, any Person specified in
Section 2.03 hereof as the Depositary with respect to the Notes, and any and all successors thereto appointed as Depositary hereunder and having become such pursuant to the applicable provision of this Indenture. 

“Designated Non-cash Consideration” means the fair market value of non-cash consideration received by the Issuer or a Restricted Subsidiary in connection with an Asset Sale that is so designated as Designated Non-cash Consideration pursuant
to an Officer’s Certificate, setting forth the basis of such valuation, less the amount of Cash Equivalents received in connection with a subsequent sale, redemption, conversion or repurchase of or collection or payment on such Designated Non-cash Consideration. A particular item of Designated Non-cash Consideration will no longer be considered to be outstanding when and to the extent it has been paid, redeemed
or otherwise retired or sold or otherwise disposed of in exchange for consideration in the form of Cash Equivalents in compliance with Section 4.10 hereof. 

“Designated Preferred Stock” means Preferred Stock of the Issuer or any direct or indirect parent company thereof (in each
case other than Disqualified Stock) that is issued for cash (other than to a Restricted Subsidiary or an employee stock ownership plan or trust established by the Issuer or any of its Subsidiaries) and is so designated as Designated Preferred Stock,
pursuant to an Officer’s Certificate on the issuance date thereof, the cash proceeds of which are excluded from the calculation set forth in clause (C) of Section 4.07(a) hereof. 

“Disinterested Director” means, with respect to any Affiliate Transaction, a member of the Board of the Issuer or any direct
or indirect parent of the Issuer having no material direct or indirect financial interest in or with respect to such Affiliate Transaction. A member of the Board of the Issuer or any direct or indirect parent of the Issuer shall be deemed not to
have such a financial interest by reason of such member’s holding Capital Stock of the Issuer or any direct or indirect parent of the Issuer or any options, warrants or other rights in respect of such Capital Stock. 

  
 -16- 

 “Disqualified Stock” means, with respect to any Person, any Capital Stock
of such Person which, by its terms, or by the terms of any security into which it is convertible or for which it is putable or exchangeable, or upon the happening of any event, matures or is mandatorily redeemable (other than solely for Capital
Stock of such Person or any direct or indirect parent entity thereof that would not otherwise constitute Disqualified Stock, and other than solely as a result of a change of control, asset sale, casualty, condemnation or eminent domain) pursuant to
a sinking fund obligation or otherwise, or is redeemable at the option of the holder thereof (other than solely for Capital Stock of such Person or as a result of a change of control, asset sale, casualty, condemnation or eminent domain), in whole
or in part, in each case prior to the date 91 days after the earlier of the maturity date of the Notes or the date the Notes are no longer outstanding; provided that if such Capital Stock is issued pursuant to any plan for the benefit of
future, present or former employees, directors, officers, managers, members, partners, independent contractors or consultants of the Issuer or its Subsidiaries or by any such plan to such future, present or former employees, directors, officers,
managers, members, partners, independent contractors or consultants, such Capital Stock shall not constitute Disqualified Stock solely because it may be required to be repurchased by the Issuer or its Subsidiaries or a direct or indirect parent
entity of the Issuer in order to satisfy applicable statutory or regulatory obligations or as a result of such employee’s termination, death or disability or otherwise in accordance with any management equity subscription agreement, stock
option, stock appreciation right or other stock award agreement, stock ownership plan, put agreement, stockholder agreement or similar agreement; provided, further, that any Capital Stock held by any future, current or former employee,
director, officer, member, partner, manager or consultant (or their respective Controlled Investment Affiliates or Immediate Family Members) of the Issuer, any of its Subsidiaries, any of its direct or indirect parent companies or any other entity
in which the Issuer or a Restricted Subsidiary has an Investment and is designated in good faith as an “affiliate” by the Board of the Issuer or any direct or indirect parent of the Issuer, in each case pursuant to any stock subscription
or shareholders’ agreement, management equity plan or stock option plan or any other management or employee benefit plan or agreement, shall not constitute Disqualified Stock solely because it may be required to be repurchased by the Issuer or
its Subsidiaries or any direct or indirect parent of the Issuer or in order to satisfy applicable statutory or regulatory obligations. 

“Division” means the division of the assets, liabilities and/or obligations of a Person (the “Dividing Person”)
among two or more Persons (whether pursuant to a “plan of division” or similar arrangement), which may or may not include the Dividing Person and pursuant to which the Dividing Person may or may not survive. 

“Domestic Subsidiary” means, with respect to any Person, any Subsidiary that is organized under the laws of the United
States, any state thereof or the District of Columbia. 
 “EBITDA” means, with respect to any Person for any period, the
Consolidated Net Income of such Person for such period: 
 (a) increased (without duplication) by the following, in each case
(other than with respect to clauses (viii), (xi) and the applicable pro forma adjustments in clause (xv)) to the extent deducted (and not added back) in determining Consolidated Net Income for such period: 

(i) (A) provision for taxes based on income, profits or capital, including, without limitation, federal, state, municipal,
foreign, franchise and similar taxes (such as the Delaware franchise tax, the Pennsylvania capital tax, Texas margin tax and provincial capital taxes paid in Canada) and withholding taxes (including any future taxes or other levies which replace or
are intended to be in lieu of such taxes and any penalties and interest related to such taxes or arising from tax examinations), (B) if such Person is treated as a disregarded entity or partnership for U.S. federal, state and/or local income tax
purposes for such period or any portion thereof, the amount of distributions actually made to any direct or indirect parent company of such Person in respect of such period in accordance with clause (xx) under Section 4.07(b) hereof and
(C) the net tax expense associated with any adjustments made pursuant to clauses (a) through (q) of the definition of “Consolidated Net Income”; plus 

(ii) Fixed Charges of such Person for such period (including (w) non-cash rent
expense, (x) net losses or any obligations on Hedging Obligations or other derivative instruments, (y) bank fees and other financing fees and (z) costs of surety bonds in connection with financing activities, plus amounts excluded
from Consolidated Interest Expense as set forth in clauses (a)(o) through (z) in the definition thereof); plus 

  
 -17- 

 (iii) Consolidated Depreciation and Amortization Expense of such Person for
such period; plus 
 (iv) the amount of any equity-based or non-cash
compensation charges or expenses, including any such charges or expenses arising from grants of stock appreciation or similar rights, stock options, restricted stock or other rights; plus 

(v) any other non-cash charges, expenses or losses, including non-cash losses on the sale of assets and any write-offs or write-downs reducing Consolidated Net Income for such period and any non-cash expense relating to the vesting of
warrants (provided that if any such non-cash charges represent an accrual or reserve for potential cash items in any future period, (A) the Issuer may elect not to add back such non-cash charge in the current period and (B) to the extent the Issuer elects to add back such non-cash charge, the cash payment in respect thereof in such future period
shall be subtracted from EBITDA to such extent), and excluding amortization of a prepaid cash item that was paid in a prior period; plus 

(vi) the amount of any non-controlling interest or minority interest expense or any
expense or deduction attributable to non-controlling or minority equity interests of third parties in any non-Wholly-Owned Subsidiary; plus 

(vii) the amount of (x) Board fees, management, monitoring, consulting, transaction, advisory and other fees (including
termination fees) and indemnities, costs and expenses paid or accrued in such period to the Investors or otherwise to any member of the Board of the Issuer, any Subsidiary of the Issuer or any direct or indirect parent of the Issuer, any Permitted
Holder or any Affiliate of a Permitted Holder, (y) payments made to option holders of the Issuer or any of its direct or indirect parent companies in connection with, or as a result of, any distribution being made to shareholders of such Person
or its direct or indirect parent companies, which payments are being made to compensate such option holders as though they were shareholders at the time of, and entitled to share in, such distribution, including any cash consideration for any
repurchase of equity, in each case to the extent permitted in this Indenture and (z) any fees and other compensation paid to the members of the Board of the Issuer or any of its parent entities; plus 

(viii) the amount of (i) pro forma “run rate” cost savings, operating improvements and expense reductions,
product margin and other synergies related to the Equity Transactions and this offering that are reasonably identifiable and factually supportable (it is understood and agreed that “run-rate” means
the full recurring benefit for a period that is associated with any action taken, committed to be taken or expected to be taken, net of the amount of actual benefits realized during such period from such actions) and projected by the Issuer in good
faith to result from actions that have been taken or with respect to which substantial steps have been taken or are expected to be taken (in the good faith determination of the Issuer) within 24 months after the date of consummation of the Equity
Transactions and this offering (including from any actions taken in whole or in part prior to such date), net of the amount of actual benefits realized during such period from such actions, and (ii) pro forma “run rate” cost savings,
operating improvements and expense reductions, product margin and other synergies and EBITDA pursuant to contracted pricing (at the highest contracted rate) related to mergers, amalgamations and other business combinations, acquisitions,
investments, dispositions, divestitures, restructurings, operating improvements, and expense reductions, cost savings initiatives and other similar transactions or initiatives (including the modification and renegotiation of contracts and other
arrangements) that are reasonably identifiable and factually supportable and projected by the Issuer in good faith to result from actions that have been taken or with respect to which substantial steps have been taken (in each case, including from
any steps or actions taken in whole or in part prior to the Issue Date or the applicable consummation date of such transaction, initiative or event) or are expected to be taken (in the good faith determination of the Issuer) within 24 months after
any such transaction, initiative or event is consummated, net of the amount of actual benefits realized during such period from such actions, in each case, calculated on a pro forma basis as though such cost savings, operating improvements and
expense reductions, synergies and EBITDA pursuant to contracted pricing (at the highest 

  
 -18- 

 contracted rate) had been realized on the first day of such period for which EBITDA is being
determined and as if such cost savings, operating improvements and expense reductions, synergies and EBITDA pursuant to contracted pricing were realized on the first day of the applicable period for the entirety of such period; provided that
no cost savings, operating improvements and expense reductions, synergies and EBITDA pursuant to contracted pricing shall be added pursuant to this clause (viii) to the extent duplicative of any expenses or charges otherwise added to EBITDA,
whether through a pro forma adjustment or otherwise, for such period; plus 
 (ix) the amount of loss or discount on
sale of receivables, Securitization Assets and related assets to any Securitization Entity in connection with a Securitization; plus 

(x) any costs or expense incurred by the Issuer or a Restricted Subsidiary or a direct or indirect parent entity of the Issuer
pursuant to any management equity plan or stock option plan or any other management or employee benefit plan or agreement, any severance agreement or any stock subscription or shareholder agreement, to the extent that such cost or expenses are
funded with cash proceeds contributed to the capital of the Issuer or Net Cash Proceeds of an issuance of Equity Interest of the Issuer (other than Disqualified Stock) solely to the extent that such Net Cash Proceeds are excluded from the
calculation set forth in clause (C) of Section 4.07(a) hereof; plus 
 (xi) cash receipts (or any netting
arrangements resulting in reduced cash expenditures) not representing EBITDA or Consolidated Net Income in any period to the extent non-cash gains relating to such income were deducted in the calculation of
EBITDA pursuant to clause (b) below for any previous period and not added back; plus 
 (xii) any losses,
charges, expenses, costs or other payments (including all fees, expenses or charges related thereto) (i) from disposed, abandoned or discontinued operations, (ii) in respect of facilities no longer used or useful in the conduct of the
business of the Issuer or its Restricted Subsidiaries, abandoned, closed, disposed or discontinued operations and any losses on disposal of abandoned, closed or discontinued operations and (iii) attributable to business dispositions or asset
dispositions (other than in the ordinary course of business) as determined in good faith by the Issuer; plus 
 (xiii)
at the option of the Issuer with respect to any applicable period, an amount equal to the net change in deferred revenue at the end of such period from the deferred revenue at the end of the previous period; plus 

(xiv) compensation expense attributable to positive investment income with respect to funded deferred compensation account
balances; plus 
 (xv) adjustments, exclusions and add-backs (x) used in
connection with or reflected in the calculation of “Adjusted EBITDA” as set forth in footnote (2) of “Summary — Summary Historical Consolidated Financial Information” contained in the Offering Memorandum to the extent
such adjustments continue to be applicable during the period in which EBITDA is being calculated and other adjustments, exclusions and add-backs of a similar nature to the foregoing, in each case applied in
good faith by the Issuer and (y) identified or set forth in any quality of earnings report or analysis prepared by independent registered public accounts of recognized national or international standing or any other accounting or valuation firm
in connection with any permitted acquisition, Investment or other transaction not prohibited by this Indenture; plus 

(xvi) the amount of any gains or losses arising from embedded derivatives in the customer contracts of the Issuer or a
Restricted Subsidiary; plus 
 (xvii) fair market value of MSRs capitalized by the Issuer and its Restricted
Subsidiaries; 

  
 -19- 

 (b) decreased (without duplication) by the following, in each case to the
extent included in determining Consolidated Net Income for such period: 
 (i)
non-cash gains (including non-cash gains on the sale of assets) increasing Consolidated Net Income of such Person for such period, excluding any non-cash gains to the extent they represent the reversal of an accrual or reserve for a potential cash item that reduced EBITDA in any prior period and any non-cash gains with
respect to cash actually received in a prior period so long as such cash did not increase EBITDA in such prior period; plus 

(ii) any net income from disposed, abandoned, closed or discontinued operations or attributable to business dispositions or
asset dispositions (other than in the ordinary course of business) as determined in good faith by the Issuer; plus 

(iii) the reduction in compensation expense attributable to investment loss with respect to funded deferred compensation
account balances; plus 
 (iv) claims paid by the Issuer or any Captive Insurance Subsidiary and administrative
expenses paid to any Captive Insurance Subsidiary; and 
 (c) increased or decreased (without duplication) by, as applicable,
any non-cash adjustments resulting from the application of FASB Interpretation No. 45 Guarantees, or any comparable applicable accounting standard. 

“EMU” means the economic and monetary union as contemplated in the Treaty on European Union. 

“Equityholding Vehicle” means any direct or indirect parent entity of the Issuer and any equityholder thereof through which
future, present or former employees, directors, officers, managers, members or partners of the Issuer or any of its Subsidiaries or direct or indirect parent entities hold Capital Stock of the Issuer or such parent entity. 

“equity incentives” has the meaning set forth in the definition of “Consolidated Net Income.” 

“Equity Interests” means Capital Stock and all warrants, options or other rights to acquire Capital Stock, but excluding any
debt security that is convertible into, or exchangeable for, Capital Stock. 
 “Equity Offering” means any public or
private sale or issuance of Capital Stock or Preferred Stock (excluding Disqualified Stock) of the Issuer or any of its direct or indirect parent companies, other than: 

(a) public offerings with respect to the Issuer’s or any direct or indirect parent company’s common equity registered
on Form S-8; 
 (b) issuances to any Subsidiary of the Issuer; and 

(c) any such public or private sale or issuance that constitutes an Excluded Contribution. 

“Equity Transactions” means the transactions described in “Summary—The Equity Transactions” section of
the Offering Memorandum. 
 “euro” means the single currency of participating member states of the EMU. 

“Excess Spread Sale” means any sale in the ordinary course of business, consistent with past practice or consistent
with industry practice and for fair market value of any excess servicing fee spread under any MSR. 
 “Euroclear” means
Euroclear Bank S.A./N.V., as operator of the Euroclear system, or any successor securities clearing agency. 

  
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 “Exchange Act” means the Securities Exchange Act of 1934, as amended, and
the rules and regulations of the SEC promulgated thereunder (and with respect to the definitions of “Change of Control” and “Permitted Holders” only, as in effect on the Issue Date). 

“Excluded Contribution” means Net Cash Proceeds, marketable securities or Qualified Proceeds received by the Issuer after the
Issue Date from: 
 (a) contributions to its common equity capital; 

(b) dividends, distributions, fees and other payments from any Unrestricted Subsidiaries or joint ventures or Investments in
entities that are not Restricted Subsidiaries; and 
 (c) the sale (other than to a Subsidiary of the Issuer or to any
management equity plan or stock option plan or any other management or employee benefit plan or agreement of the Issuer) of Capital Stock (other than Disqualified Stock and Designated Preferred Stock) of the Issuer or any direct or indirect parent
entity to the extent contributed as common equity capital to the Issuer, 
 in each case designated as Excluded Contributions pursuant to an Officer’s
Certificate, which are (or were) excluded from the calculation set forth in clause (C) of Section 4.07(a) hereof. 

“Excluded Restricted Subsidiary” means any Restricted Subsidiary that is prohibited, in the reasonable judgment of the
Issuer, from guaranteeing the Notes by any applicable law, regulation or contractual restriction existing on the Issue Date or at the time such Subsidiary becomes a Restricted Subsidiary and which, in the case of any such contractual restriction, in
the good faith opinion of the Issuer, cannot be removed through commercially reasonable efforts. As of the Issue Date, Incenter Solutions LLC, Agents National Title Holding Company, Agents Exchange LLC, Agents University LLC, TitleNet Systems LLC,
Agents National Title Insurance Company, Gulf Coast Title Insurance Company, Ava 2025 LLC, Agents Exchange LLC, Incenter Capital Management LLC, Upli LLC, Annaly TESPA FR LLC, Annaly TESPA FN LLC, ICM GP SPV LLC, Annaly RESPA Feeder Fund LP, Annaly
TESPA Feeder Fund LP, FOA RESPA Feeder Fund LP, Virtual Title LLC, Canyon Title Company, LLC, Canyon Affiliates, LLC, Denver Title Alliance, LLC, Cherry Creek Title Alliance, LLC, Outpost Title Alliance LLC, Haven Tusk Title Agency, LLC, Finance of
America Commercial Holdings LLC, Buy to Rent Finance Manager LLC, Finance of America Commercial LLC, FACO Crop Loans LLC, FACO Crop Loan Financing Trust C1, Finance of America Commercial Depositor LLC, Antler Mortgage Trust 2018 RTL1, Antler
Mortgage Trust 2019 RTL1, Antler Mortgage Loan Trust 2020-RTL1, FACo Risk Retention LLC, B2R ASSET Management GP LLC, B2R Asset Management L.P., B2R Asset Management 2 GP LLC, B2R Asset Management 2 L.P., B2R Repo Seller 2 GP LLC, B2R Repo Seller 2
L.P., Dwell Repo Seller 1 GP LLC, Dwell Repo Seller 1 L.P., Dwell Repo Seller 2 GP LLC, Dwell Repo Seller 2 L.P., B2R Finance Depositor GP LLC, B2R Finance Depositor L.P., B2R Repo Seller 3A GP LLC, B2R Repo Seller 3A L.P., B2R Repo Seller 3B GP
LLC, B2R Repo Seller 3B L.P., B2R Repo Seller 1 Owner GP LLC, B2R Repo Seller 1 Owner L.P., B2R Repo Seller 1 GP LLC, B2R Repo Seller 1 L.P. constitute Excluded Restricted Subsidiaries. 

“Existing Facilities” means, collectively, the Existing Servicing Advance Facilities, the Existing Warehouse
Facilities and the Existing MSR Facilities. 
 “Existing MSR Facilities” means the MSR Facilities of the Issuer and
its Restricted Subsidiaries in existence on the Issue Date, in each case, together with the related documents thereto (including, without limitation, any security documents), in each case as such agreements may be amended (including any amendment
and restatement thereof), supplemented or otherwise modified from time to time, including any agreement extending the maturity of, increasing the interest rate or fees applicable thereto, refinancing, replacing or otherwise restructuring (including
adding Subsidiaries of the Issuer as additional borrowers or guarantors thereunder) all or any portion of the Indebtedness under such agreement or any successor or replacement agreement and whether by the same or any other agent, lender, investor or
group of lenders or investors. 

  
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 “Existing Servicing Advance Facilities” means the Servicing Advance
Facilities of the Issuer and its Restricted Subsidiaries in existence on the Issue Date, in each case, together with the related documents thereto (including, without limitation, any security documents), in each case as such agreements may be
amended (including any amendment and restatement thereof), supplemented or otherwise modified from time to time, including any agreement extending the maturity of, increasing the interest rate or fees applicable thereto, refinancing, replacing or
otherwise restructuring (including adding Subsidiaries of the Issuer as additional borrowers or guarantors thereunder) all or any portion of the Indebtedness under such agreement or any successor or replacement agreement and whether by the same or
any other agent, lender, investor or group of lenders or investors. 
 “Existing Warehouse Facilities” means the Warehouse
Facilities of the Issuer and its Restricted Subsidiaries in existence on the Issue Date, in each case, together with the related documents thereto (including, without limitation, any security documents), in each case as such agreements may be
amended (including any amendment and restatement thereof), supplemented or otherwise modified from time to time, including any agreement extending the maturity of, increasing the interest rate or fees applicable thereto, refinancing, replacing or
otherwise restructuring (including adding Subsidiaries of the Issuer as additional borrowers or guarantors thereunder) all or any portion of the Indebtedness under such agreement or any successor or replacement agreement and whether by the same or
any other agent, lender investor or group of lenders or investors. 
 “fair market value” means, with respect to any asset
or liability, the fair market value of such asset or liability as determined by the Issuer in good faith. 
 “Fannie Mae”
means Fannie Mae, also known as The Federal National Mortgage Association, or any successor thereto. 
 “Financing Lease
Obligation” means an obligation that is required to be accounted for as a financing or capital lease (and, for the avoidance of doubt, not a straight-line or operating lease) on both the balance sheet and income statement for financial
reporting purposes in accordance with GAAP. At the time any determination thereof is to be made, the amount of the liability in respect of a financing or capital lease would be the amount required to be reflected as a liability on such balance sheet
(excluding the footnotes thereto) in accordance with GAAP. 
 “Fitch” means Fitch Ratings Inc. and any successor to its
rating agency business. 
 “Fixed Charge Coverage Ratio” means, with respect to any Person for any period, the ratio of
EBITDA of such Person for such period to the Fixed Charges of such Person for such period. In the event that such Person or any Restricted Subsidiary incurs, assumes, guarantees, redeems, repays, retires or extinguishes any Indebtedness (other than
Indebtedness incurred under any revolving credit or letter of credit facility) or issues or redeems Disqualified Stock or Preferred Stock subsequent to the commencement of the period for which the Fixed Charge Coverage Ratio is being calculated but
prior to or substantially concurrently with the event for which the calculation of the Fixed Charge Coverage Ratio is made (the “Fixed Charge Coverage Ratio Calculation Date”), then the Fixed Charge Coverage Ratio shall be
calculated giving pro forma effect to such incurrence, assumption, guarantee, redemption, repayment, retirement or extinguishment of Indebtedness, or such issuance or redemption of Disqualified Stock or Preferred Stock (in each case,
including a pro forma application of the net proceeds therefrom), as if the same had occurred at the beginning of the applicable four-quarter period, subject, for the avoidance of doubt, to the paragraphs contained in Section 1.07 hereof;
provided, however, that the pro forma calculation of Fixed Charges for purposes of Section 4.09(a) hereof (and for the purposes of other provisions of this Indenture that refer to Section 4.09(a) hereof) shall not give effect
to any Indebtedness being incurred on such date (or on such other subsequent date which would otherwise require pro forma effect to be given to such incurrence) pursuant to Section 4.09(b) hereof (other than Secured Indebtedness incurred
pursuant to Section 4.09(b)(xiv)(B) hereof), but shall give effect to the Reserved Indebtedness Amount. 
 For purposes of making the
computation referred to above, Investments, acquisitions, asset originations, purchases of assets, MSRs, Servicing Advances or servicing rights, dispositions, mergers, amalgamations, consolidations, discontinued operations (as determined in
accordance with GAAP), operational changes, Business Expansions and other transactions (including the Equity Transactions and this offering) that have been made by or involving the Issuer or any of its Restricted Subsidiaries during the four-quarter
reference period or subsequent to such reference period and on or prior to or substantially concurrently with the Fixed Charge Coverage Ratio Calculation Date shall be calculated on a pro forma basis assuming that all such Investments, acquisitions,
asset originations, purchases of assets, MSRs, Servicing Advances or servicing rights, dispositions, mergers, amalgamations, 

  
 -22- 

 consolidations, discontinued operations, operational changes, Business Expansions and other transactions
(and the change in any associated fixed charge obligations and the change in EBITDA resulting therefrom) had occurred on the first day of the four-quarter reference period. If since the beginning of such period any Person that subsequently became a
Restricted Subsidiary or was merged, amalgamated or consolidated with or into the Issuer or any of its Restricted Subsidiaries since the beginning of such period shall have made any Investment, acquisition, asset originations, purchases of assets,
MSRs, Servicing Advances or servicing rights, disposition, merger, amalgamation, consolidation, discontinued operation, operational change, Business Expansion or other transaction that would have required adjustment pursuant to this definition, then
the Fixed Charge Coverage Ratio shall be calculated giving pro forma effect thereto for such period as if such Investment, acquisition, asset originations, purchases of assets, MSRs, Servicing Advances or servicing rights, disposition, merger,
amalgamation, consolidation, discontinued operation, operational change, Business Expansion or other transaction had occurred at the beginning of the applicable four-quarter period. 

For purposes of this definition, whenever pro forma effect is to be given to an Investment, acquisition, asset originations, purchases of assets, MSRs,
Servicing Advances or servicing rights, disposition, merger, amalgamation, consolidation, discontinued operation, operational change, Business Expansion or other transaction, the pro forma calculations shall be made in good faith by a
responsible financial or accounting officer of the Issuer or its Restricted Subsidiaries (and may include, for the avoidance of doubt, cost savings, operating expense reductions and synergies resulting from such Investment, acquisition, asset
originations, purchases of assets, MSRs, Servicing Advances or servicing rights, disposition, merger, amalgamation, consolidation, discontinued operation, operational change, Business Expansion or other transaction which is being given pro forma
effect) calculated in accordance with and permitted by clause (a)(viii) of the definition of “EBITDA.” The Issuer shall be entitled in calculating the Fixed Charge Coverage Ratio: (i) to treat the entry into a bona fide
subservicing agreement in respect of MSRs as an asset acquisition and (ii) to give effect in such pro forma calculation to any bona fide binding definitive agreement, subject to customary closing conditions, for any transaction that upon the
consummation thereof would be subject to the foregoing paragraph (including any related incurrence or repayment of Indebtedness). If any Indebtedness bears a floating rate of interest and is being given pro forma effect, the interest on such
Indebtedness shall be calculated as if the rate in effect on the Fixed Charge Coverage Ratio Calculation Date had been the applicable rate for the entire period (taking into account any Hedging Obligations applicable to such Indebtedness). Interest
on a Financing Lease Obligation shall be deemed to accrue at an interest rate reasonably determined by a responsible financial or accounting officer of the Issuer to be the rate of interest implicit in such Financing Lease Obligation in accordance
with GAAP. For purposes of making the computation referred to above, interest on any Indebtedness under a revolving credit facility computed on a pro forma basis shall be computed based upon the average daily balance of such Indebtedness
during the applicable period except as set forth in the first paragraph of this definition. Interest on Indebtedness that may optionally be determined at an interest rate based upon a factor of a prime or similar rate, a eurocurrency interbank
offered rate, or other rate, shall be deemed to have been based upon the rate actually chosen, or, if none, then based upon such optional rate chosen as the Issuer may designate. 

“Fixed Charge Coverage Ratio Calculation Date” has the meaning set forth in the definition of “Fixed Charge Coverage
Ratio.” 
 “Fixed Charges” means, with respect to any Person for any period, the sum of, without duplication: 

(a) Consolidated Interest Expense on Corporate Indebtedness of such Person for such period; 

(b) all cash dividends or other distributions paid (excluding items eliminated in consolidation) on any series of Preferred
Stock during such period; and 
 (c) all cash dividends or other distributions paid (excluding items eliminated in
consolidation) on any series of Disqualified Stock during such period. 
 “Foreign Subsidiary” means (i) any
Subsidiary of the Issuer that is not a Domestic Subsidiary and (ii) any direct or indirect Domestic Subsidiary that is a direct or indirect Subsidiary of a direct or indirect Foreign Subsidiary. 

  
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 “Freddie Mac” means Freddie Mac, also known as The Federal Home Loan
Mortgage Corporation, or any successor thereto. 
 “FSHCO Subsidiary” means any Subsidiary substantially all of the assets
of which consist of Equity Interests and/or Indebtedness of one or more Foreign Subsidiaries that are CFCs or Subsidiaries that are FSHCO Subsidiaries. 

“GAAP” means, at the election of the Issuer, (1) generally accepted accounting principles in the United States of
America, as in effect from time to time (“U.S. GAAP”) if the Issuer’s financial statements are at such time prepared in accordance with U.S. GAAP or (2) the accounting standards and interpretations adopted by the
International Accounting Standard Board, as in effect from time to time (“IFRS”) if the Issuer’s financial statements are at such time prepared in accordance with IFRS, it being understood that, for purposes of this Indenture,
(a) all references to codified accounting standards specifically named in this Indenture shall be deemed to include any successor, replacement, amendment or updated accounting standard under U.S. GAAP or IFRS, as applicable, (b) neither
U.S. GAAP nor IFRS shall include the policies, rules and regulations of the SEC, the American Institute of Certified Public Accountants, the International Accounting Standards Board or any other applicable regulatory or governing body applicable
only to public companies (unless the Issuer elects to apply such policies, rules and regulations), (c) any calculation or determination in this Indenture that requires the application of GAAP across multiple quarters need not be calculated or
determined using the same accounting standard for each constituent quarter, (d) all calculations or determinations in this Indenture shall be made without giving effect to any election under FASB Accounting Standards Topic 825, Financial
Instruments, or any successor thereto or comparable accounting principle, to value any Indebtedness or other liabilities at “fair value” (as defined therein) (unless the Issuer elects to apply such principle) and (e) the
accounting for operating leases and financing or capital leases under U.S. GAAP as in effect on January 1, 2015 (including, without limitation, Accounting Standards Codification 840) shall apply for the purpose of determining compliance with
the provisions of this Indenture, including the definition of Financing Lease Obligation (unless the Issuer elects to apply ASC 840). 
 For
the avoidance of doubt, solely making an election (without any other action) referred to in this definition will not (1) be treated as an incurrence of Indebtedness or (2) have the effect of rendering invalid any payment, Investment or
other action made prior to the date of such election pursuant to Section 4.07 hereof or any incurrence of Indebtedness incurred prior to the date of such election pursuant to Section 4.09 hereof (or any other action conditioned on the
Issuer and the Restricted Subsidiaries having been able to incur $1.00 of additional Indebtedness) if such payment, Investment, incurrence or other action was valid under this Indenture on the date made, incurred or taken, as the case may be. 

If there occurs a change in U.S. GAAP or IFRS, as the case may be, and such change would cause a change in the method of calculation of any
term or measure used in this Indenture (an “Accounting Change”), then the Issuer may elect that such term or measure shall be calculated as if such Accounting Change had not occurred. 

“Global Note Legend” means the legend set forth in Section 2.06(h)(ii) hereof, which is required to be placed on all
Global Notes issued under this Indenture. 
 “Global Notes” means, individually and collectively, each of the Restricted
Global Notes and the Unrestricted Global Notes, substantially in the form of Exhibit A hereto, issued in accordance with Section 2.01, 2.06(a) or 2.06(c) hereof. 

“Ginnie Mae” means Ginnie Mae, also known as The Government National Mortgage Association, or any successor thereto.

 “guarantee” means a guarantee (other than by endorsement of negotiable instruments for collection in the ordinary course
of business), direct or indirect, in any manner (including letters of credit and reimbursement agreements in respect thereof), of all or any part of any Indebtedness or other obligations. 

“Guarantee” means the guarantee by any Guarantor of the Issuer’s Obligations under this Indenture and the Notes. 

  
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 “Guarantors” means the Parent Guarantor and the Subsidiary Guarantors. 

“Hedging Obligations” means, with respect to any Person, the obligations of such Person under (1) any rate swap
transactions, basis swaps, credit derivative transactions, forward rate transactions, master securities forward 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, mortgage sale contracts, “interest only” mortgage derivative assets or other mortgage derivative products or any other similar agreements or
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 (2) 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. or the Securities Industry and Financial
Markets Association, any International Foreign Exchange Master Agreement, or any other master agreement (any such master agreement, together with any related schedules, a “Master Agreement”), including any such obligations or
liabilities under any Master Agreement. 
 “Holder” means the Person in whose name a Note is registered on the
Registrar’s books. 
 “Holding Company” means any Person so long as the Issuer is a direct or indirect Subsidiary of
such Person, and at the time the Issuer became a Subsidiary of such Person, no Person and no group (within the meaning of Section 13(d)(3) or Section 14(d)(2) of the Exchange Act, or any successor provision), including any such group
acting for the purpose of acquiring, holding or disposing of securities (within the meaning of Rule 13d-5(b)(1) under the Exchange Act) (other than any Permitted Holder), shall have beneficial ownership
(within the meaning of Rule 13d-3 under the Exchange Act, or any successor provision), directly or indirectly, of more than 50.0% of the total voting power of the Voting Stock of such Person. 

“IAI Global Note” means a Global Note substantially in the form of Exhibit A hereto bearing the Global Legend
and the Private Placement Legend and deposited with or on behalf of, and registered in the name of, the Depositary or its nominee that will be issued in a denomination equal to the outstanding principal amount of the Notes. 

“IFRS” has the meaning set forth in the definition of “GAAP.” 

“Immediate Family Members” means with respect to any individual, such individual’s child, stepchild, grandchild or more
remote descendant, parent, stepparent, grandparent, spouse, former spouse, qualified domestic partner, sibling, mother-in-law, father-in-law, son-in-law and daughter-in-law
(including adoptive relationships), the estates of such individual and such other individuals above and any trust, partnership or other bona fide estate-planning vehicle the only beneficiaries of which are any of the foregoing individuals or any
private foundation, trust or fund that is controlled by any of the foregoing individuals or any donor-advised foundation, trust or fund of which any such individual is the donor. 

“Indebtedness” means, with respect to any Person, without duplication: 

(a) any indebtedness of such Person, whether or not contingent: 

(i) representing the principal in respect of borrowed money; 

(ii) representing the principal in respect of obligations evidenced by bonds, notes, debentures or similar instruments or
letters of credit or bankers’ acceptances (or, without duplication, reimbursement agreements in respect thereof); 

(iii) representing the principal component in respect of obligations to pay the deferred and unpaid balance of the purchase
price of any property (including Financing Lease Obligations) which purchase price is due more than one year from the date of incurrence of the obligation in respect thereof, except (A) any such balance that constitutes an obligation in respect
of a 

  
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commercial letter of credit, a trade payable or similar obligation to a trade creditor, in each case accrued in the ordinary course of business, (B) any
earn-out obligations or purchase price adjustments until such obligation is treated as a liability on the balance sheet (excluding the footnotes thereto) (C) accruals for payroll and other liabilities
accrued in the ordinary course of business and (D) liabilities associated with customer prepayments and deposits; or 

(iv) representing the net obligations under any Hedging Obligations, 

if and to the extent that any of the foregoing Indebtedness (other than letters of credit and Hedging Obligations) would appear as a liability
upon a balance sheet (excluding the footnotes thereto) of such Person prepared in accordance with GAAP; provided that Indebtedness of any direct or indirect parent of the Issuer appearing upon the balance sheet of the Issuer solely by reason
of push-down accounting under GAAP shall be excluded; 
 (b) to the extent not otherwise included, any obligation by such
Person to be liable for, or to pay, as obligor, guarantor or otherwise, the obligations of the type referred to in clause (a) of a third Person (whether or not such items would appear upon the balance sheet of such first Person), other than by
endorsement of negotiable instruments for collection in the ordinary course of business; and 
 (c) to the extent not
otherwise included, the obligations of the type referred to in clause (a) of a third Person secured by a Lien on any asset owned by such first Person, whether or not such Indebtedness is assumed by such first Person; provided that the
amount of any such Indebtedness will be the lesser of (i) the fair market value of such asset at such date of determination and (ii) the amount of such Indebtedness of such third Person; 

provided that notwithstanding the foregoing, Indebtedness shall be deemed not to include (a) Contingent Obligations incurred in the ordinary
course of business, consistent with past practice or consistent with industry practice, (b) Non-Financing Lease Obligations, Securitizations, straight-line leases, operating leases, Sale and Lease-Back
Transactions or lease lease-back transactions, (c) obligations under any license, permit or other approval (or guarantees given in respect of such obligations) incurred prior to the Issue Date or in the ordinary course of business or consistent
with past practice, (d) in connection with the purchase by the Issuer or any Restricted Subsidiary of any business, any post-closing payment adjustments to which the seller may become entitled to the extent such payment is determined by a final
closing balance sheet or such payment depends on the performance of such business after the closing; provided, however, that, at the time of closing, the amount of any such payment is not determinable and, to the extent such payment
thereafter becomes fixed and determined, the amount is paid in a timely manner, (e) purchase price holdbacks in respect of a portion of the purchase price of an asset to satisfy warranty or other unperformed obligations of the seller,
(f) any obligations attributable to the exercise of appraisal rights and the settlement of any claims or actions (whether actual, contingent or potential) with respect thereto, (g) accrued expenses and royalties, (h) Capital Stock and
Disqualified Stock, (i) any obligations in respect of workers’ compensation claims, unemployment insurance, retirement, post-employment or termination obligations (including pensions and retiree medical care), pension fund obligations or
contributions or similar claims, or social security or wage taxes or contributions, (j) deferred or prepaid revenues, (k) any asset retirement obligations, or (l) any liability for taxes; provided, further, that
Indebtedness shall be calculated without giving effect to the effects of Financial Accounting Standards Board Accounting Standards Codification Topic No. 815 and related interpretations to the extent such effects would otherwise increase or
decrease an amount of Indebtedness for any purpose under this Indenture as a result of accounting for any embedded derivatives created by the terms of such Indebtedness. 

“Indenture” means this Indenture, as amended, supplemented or otherwise modified from time to time. 

“Independent Financial Advisor” means an accounting, appraisal, investment banking firm or consultant of nationally or
internationally recognized standing that is, in the good faith judgment of the Issuer, qualified to perform the task for which it has been engaged. 

“Indirect Participant” means a Person who holds a beneficial interest in a Global Note through a Participant. 

  
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 “Initial Notes” has the meaning set forth in the recitals hereto. 

“Initial Purchasers” means the initial purchasers of the Notes on the Issue Date. 

“Intercompany License Agreement” means any cost sharing agreement, commission or royalty agreement, license or sub-license agreement, distribution agreement, services agreement, intellectual property rights transfer agreement, any related agreements or other similar agreements, in each case where all parties to such
agreement are one or more of the Issuer or a Restricted Subsidiary. 
 “Interest Payment Date” means May 15 and
November 15 of each year to stated maturity. 
 “Investment Grade Rating” means a rating equal to or higher than Baa3
(or the equivalent) by Moody’s and BBB- (or the equivalent) by Fitch, or if the applicable securities are not then rated by Moody’s or Fitch, an equivalent rating by any other Rating Agency. 

“Investment Grade Securities” means: 

(a) securities issued or directly and fully guaranteed or insured by the United States government or any agency or
instrumentality thereof (other than Cash Equivalents); 
 (b) debt securities or debt instruments with an Investment Grade
Rating, but excluding any debt securities or instruments constituting loans or advances among the Issuer and its Subsidiaries; 

(c) investments in any fund that invests at least 90% of its assets in investments of the type described in clauses
(a) and (b) which fund may also hold immaterial amounts of cash pending investment or distribution; and 
 (d)
corresponding instruments in countries other than the United States of America customarily utilized for high quality investments. 

“Investment Management Business” means the provision of investment management products, platforms and services and
financial advisory services, the implementation of investment strategies, including the negotiation and consummation of investment transactions (including seed capital Investments), the management of investment vehicles, and the administration of
assets under management, together with related, ancillary and incidental businesses. 
 “Investments” means, with respect
to any Person, all investments by such Person in other Persons (including Affiliates) in the form of loans (including guarantees), advances or capital contributions (excluding (x) accounts receivable, trade credit, advances to customers,
commission, travel and similar advances to future, present or former employees, directors, officers, managers, members, partners, independent contractors or consultants, in each case made in the ordinary course of business or consistent with past
practice, (y) deposits made in the ordinary course of business, consistent with past practice or consistent with industry practice or customary deposits into reserve accounts related to Securitizations or (z) residential mortgage loans in
the ordinary course of business, consistent with past practice or consistent with industry practice, warehouse loans secured by residential mortgage loans and related assets, drawing accounts and similar expenditures in the ordinary course of
business, consistent with past practice or consistent with industry practice), purchases or other acquisitions for consideration of Indebtedness, Equity Interests or other securities issued by any other Person and investments that are required by
GAAP to be classified on the balance sheet (excluding the footnotes) of the Issuer in the same manner as the other investments included in this definition to the extent such transactions involve the transfer of cash or other property. 

For purposes of the definition of “Unrestricted Subsidiary” and Section 4.07 hereof: 

(a) “Investments” shall include the portion (proportionate to the Issuer’s equity interest in such
Subsidiary) of the fair market value of the net assets of a Subsidiary of the Issuer at the time that such Subsidiary is designated an Unrestricted Subsidiary; 

  
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 (b) any property transferred to or from an Unrestricted Subsidiary shall be
valued at its fair market value at the time of such transfer; and 
 (c) if the Issuer or any Restricted Subsidiary issues,
sells or otherwise disposes of any Capital Stock of a Person that is a Restricted Subsidiary such that, after giving effect thereto, such Person is no longer a Restricted Subsidiary, any investment by the Issuer or any Restricted Subsidiary in such
Person remaining after giving effect thereto shall not be deemed to be an Investment at such time. 
 The amount of any Investment
outstanding at any time shall be the original cost of such Investment, reduced by any dividend, distribution, interest payment, return of capital, repayment or other amount received in Cash Equivalents by the Issuer or a Restricted Subsidiary in
respect of such Investment to the extent such amounts do not increase any other baskets under this Indenture. 

“Investors” means any of the Blackstone Funds, any of the Libman Parties and any of their Affiliates but not including,
however, any of its or such Affiliate’s portfolio operating companies. 
 “Issue Date” means November 5, 2020.

 “Issuer’s Order” means a written request or order signed on behalf of the Issuer by an Officer of the Issuer and
delivered to the Trustee. 
 “Legal Holiday” means a Saturday, a Sunday or a day on which commercial banking institutions
are not required to be open in the State of New York or at the place of payment in respect of the Notes. If a payment date is on a Legal Holiday, payment will be made on the next succeeding day that is not a Legal Holiday and no interest shall
accrue on such payment for the intervening period. 
 “Libman Parties” means, individually or collectively, Brian
Libman and any of his family members, any trust, investment fund, co-investment vehicles and/or other similar vehicles or accounts, in each case managed or advised by Brian Libman or one or more or his family
members or one or more of his Affiliates, or any successors of any of the foregoing. 
 “Lien” means, with respect to any
asset, any mortgage, lien (statutory or otherwise), pledge, hypothecation, charge, security interest, preference, priority or encumbrance of any kind in respect of such asset, whether or not filed, recorded or otherwise perfected under applicable
law, including any conditional sale or other title retention agreement, any lease in the nature thereof, any option or other agreement to sell or give a security interest in and any filing of or agreement to give any financing statement under the
Uniform Commercial Code (or equivalent statutes) of any jurisdiction; provided that in no event shall Non-Financing Lease Obligations or a transfer of assets pursuant to a
Co-Investment Transaction be deemed to constitute a Lien. 
 “Limited Condition
Transaction” means (1) any Investment or acquisition (whether by merger, amalgamation, consolidation or other business combination or the acquisition of Capital Stock or otherwise and which may include, for the avoidance of doubt, a
transaction that may constitute a Change of Control) or other transaction, whose consummation is not conditioned on the availability of, or on obtaining, third party financing, (2) any redemption, repurchase, defeasance, satisfaction and
discharge or repayment of Indebtedness, Disqualified Stock or Preferred Stock, (3) any Restricted Payment requiring irrevocable notice in advance thereof and (4) any Asset Sale or a disposition excluded from the definition of “Asset
Sale”. 
 “Long Derivative Instrument” means a Derivative Instrument (i) the value of which generally increases,
and/or the payment or delivery obligations under which generally decrease, with positive changes to the Performance References and/or (ii) the value of which generally decreases, and/or the payment or delivery obligations under which generally
increase, with negative changes to the Performance References. 
 “LTM EBITDA” means EBITDA of the Issuer measured for the
period of the most recent four consecutive fiscal quarters ending prior to the date of such determination for which internal consolidated financial statements of the Issuer are available, with such pro forma adjustments giving effect to such
Investments, acquisitions, dispositions, mergers, amalgamations, consolidations, discontinued operations, operational changes, Business Expansions or other transaction, as applicable, since the start of such four quarter period and on or prior to or
substantially concurrently with the date of determination as are consistent with the pro forma adjustments set forth in the definition of “Fixed Charge Coverage Ratio.” 

  
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 “Management Stockholders” means the future, present or former employees,
directors, officers, managers, members or partners (and their Controlled Investment Affiliates and Immediate Family Members) of the Issuer (or its direct or indirect parent entities) or any Restricted Subsidiary who are or become direct or indirect
holders of Equity Interests of the Issuer or any direct or indirect parent companies of the Issuer, including any such future, present or former employees, directors, officers, managers, members or partners owning through an Equityholding Vehicle.

 “Market Capitalization” means an amount equal to (a) the total number of issued and outstanding shares of common
Equity Interests of the Issuer (or any direct or indirect parent entity) on the date of the declaration of a Restricted Payment permitted pursuant to Section 4.07(b)(ix) hereof, multiplied by (b) the arithmetic mean of the closing prices
per share of such common Equity Interests on the principal securities exchange on which such common Equity Interests are traded for the 30 consecutive trading days immediately preceding the date of declaration of such Restricted Payment. 

“Master Agreement” has the meaning set forth in the definition of “Hedging Obligations.” 

“Moody’s” means Moody’s Investors Service, Inc. and any successor to its rating agency business. 

“MSR” means mortgage servicing rights (including master servicing rights, excess mortgage servicing rights, reverse
mortgage servicing rights and related assets and tail obligations, and reference MSRs) entitling the holder to service mortgage loans. 

“MSR Facility” means any financing arrangement of any kind, including, but not limited to, financing arrangements in
the form of repurchase facilities, loan agreements, note and/or other security issuance facilities and commercial paper facilities (excluding in all cases, Securitizations), with a financial institution or other lender (including, without
limitation, any Specified Government Entity) or purchaser, in each case, primarily to finance or refinance the purchase, origination, pooling or funding by the Issuer or a Restricted Subsidiary of MSRs originated, purchased, or owned by the Issuer
or any Restricted Subsidiary, including, for the avoidance of doubt, any arrangement secured by MSRs held by the Issuer or any Restricted Subsidiary. 

“MSR Facility Trust” means any Person (whether or not a Subsidiary of the Issuer) established for the purpose of
issuing notes or other securities in connection with an MSR Facility, which (1) notes and securities are backed by specified MSRs originated or purchased by, and/or contributed to, such Person from the Issuer or any of its Restricted
Subsidiaries, or (2) notes and securities are backed by specified mortgage loans purchased by, and/or contributed to, such Person from the Issuer or any of its Restricted Subsidiaries. 

“MSR Indebtedness” means Indebtedness in connection with an MSR Facility; the amount of any particular MSR
Indebtedness as of any date of determination shall be calculated in accordance with GAAP. 
 “Net Cash Proceeds” means the
aggregate Cash Equivalents proceeds received in respect of any Equity Offering, sale of Equity Interests or other applicable transaction, in each case net of underwriting fees or discounts in respect in such Equity Offering, sale or other
transaction, if applicable. 
 “Net Income” means, with respect to any Person, the net income (loss) of such Person,
determined in accordance with GAAP and before any reduction in respect of Preferred Stock dividends. 
 “Net Proceeds”
means the aggregate Cash Equivalents proceeds received by the Issuer or any of its Restricted Subsidiaries in respect of any Asset Sale or Casualty Event, including any Cash Equivalents received upon the sale or other disposition of any Designated Non-cash Consideration received in any Asset Sale, net of (1) the costs relating to such Asset Sale and the sale or disposition of such Designated Non-cash Consideration,
including 

  
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legal, accounting, consulting, investment banking and other customary fees, payments made in order to obtain a necessary consent or required by applicable law, and brokerage and sales commissions
and fees, any relocation expenses incurred as a result thereof, other fees and expenses, including survey costs, title, search and recordation expenses and title insurance premiums, (2) taxes, including tax distributions paid pursuant to clause
(xx) of Section 4.07(b) hereof paid or payable as a result thereof or any transactions occurring or deemed to occur to effectuate a payment under this Indenture (including transfer taxes, deed or mortgage recording taxes and estimated
taxes payable in connection with any repatriation of funds and after taking into account any available tax credits or deductions and any tax sharing arrangements), (3) amounts required to be applied to the repayment of principal, premium, if any,
and interest on Senior Indebtedness or amounts required to be applied to the repayment of Indebtedness secured by a Lien on such assets and required to be paid as a result of such transaction, (4) the pro rata portion of Net Proceeds thereof
(calculated without regard to this clause (4)) attributable to minority interests and not available for distribution to or for the account of the Issuer and its Restricted Subsidiaries as a result thereof, (5) any costs associated with
unwinding any related Hedging Obligations in connection with such transaction, (6) any deduction of appropriate amounts to be provided by the Issuer or any of its Restricted Subsidiaries as a reserve in accordance with GAAP against any
liabilities associated with the asset disposed of in such transaction and retained by the Issuer or any of its Restricted Subsidiaries after such sale or other disposition thereof, including pension and other post-employment benefit liabilities and
liabilities related to environmental matters or against any indemnification obligations associated with such transaction, (7) any portion of the purchase price from an Asset Sale placed in escrow, whether as a reserve for adjustment of the
purchase price, for satisfaction of indemnities in respect of such Asset Sale or otherwise in connection with such Asset Sale; provided, that upon the termination of that escrow (other than in connection with a payment in respect of any such
adjustment or satisfaction of indemnities), Net Proceeds will be increased by any portion of funds in the escrow that are released to the Issuer or any of its Restricted Subsidiaries and (8) the amount of any liabilities (other than
Indebtedness in respect of the Notes) directly associated with such asset being sold and retained by the Issuer or any of its Restricted Subsidiaries. Any non-cash consideration received in connection with any
Asset Sale that is subsequently converted to cash shall become Net Proceeds only at such time as it is so converted. 
 Net Proceeds
denominated in a currency other than U.S. dollars shall be the U.S. Dollar Equivalent of such Net Proceeds. 
 “Net
Short” means, with respect to a Holder or beneficial owner, as of a date of determination, either (i) the value of its Short Derivative Instruments exceeds the sum of the (x) the value of its Notes plus (y) the value of its
Long Derivative Instruments as of such date of determination or (ii) it is reasonably expected that such would have been the case were a Failure to Pay or Bankruptcy Credit Event (each as defined in the 2014 ISDA Credit Derivatives Definitions)
to have occurred with respect to the Issuer or any Guarantor immediately prior to such date of determination. 
 “Non-Financing Lease Obligation” means a lease obligation that is not required to be accounted for as a financing or capital lease on both the balance sheet and the income statement for financial reporting
purposes in accordance with GAAP. For the avoidance of doubt, a straight-line or operating lease shall be considered a Non-Financing Lease Obligation. 

“Non-U.S. Person” means a Person who is not a U.S. Person. 

“Notes” means the Initial Notes and more particularly means any Note authenticated and delivered under this Indenture. Unless
the context requires otherwise, all references to “Notes” for all purposes of this Indenture shall include any Additional Notes that are actually issued and authenticated. The Initial Notes issued by the Issuer and any Additional Notes
subsequently issued under this Indenture will be treated as a single class for all purposes under this Indenture, including waivers, amendments, redemptions and offers to purchase, except for certain waivers and amendments as set forth herein. 

“Non-Recourse Indebtedness” means, with respect to any Person, Indebtedness that is:

  
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 (a) specifically advanced to finance the acquisition of investment assets
and secured only by the assets to which such Indebtedness relates without recourse to such Person or any of its Restricted Subsidiaries (other than subject to such customary carve-out matters for which such
Person or its Restricted Subsidiaries acts as a guarantor in connection with such Indebtedness, such as fraud, misappropriation, breach of representation and warranty and misapplication, unless, until and for so long as a claim for payment or
performance has been made thereunder against such Person (which has not been satisfied) at which time the obligations with respect to any such customary carve-out shall not be considered Non-Recourse Indebtedness, to the extent that such claim is a liability of such Person for GAAP purposes); 

(b) advanced to (i) such Person or its Restricted Subsidiaries that holds investment assets or (ii) any of such
Person’s Subsidiaries or group of such Person’s Subsidiaries formed for the sole purpose of acquiring or holding investment assets, in each case, against which a loan is obtained that is made without recourse to, and with no
cross-collateralization against, such Person’s or any of such Person’s Restricted Subsidiaries’ other assets (other than: (A) cross-collateralization against assets which serve as collateral for other Non-Recourse Indebtedness; and (B) subject to such customary carve-out matters for which such Person or its Restricted Subsidiaries acts as a guarantor in connection with
such Indebtedness, such as fraud, misappropriation, breach of representation and warranty and misapplication, unless, until and for so long as a claim for payment or performance has been made thereunder against such Person (which has not been
satisfied) at which time the obligations with respect to any such customary carve-out shall not be considered Non-Recourse Indebtedness, to the extent that such claim is
a liability of such Person for GAAP purposes) and upon complete or partial liquidation of which the loan must be correspondingly completely or partially repaid, as the case may be; or 

(c) specifically advanced to finance the acquisition of real property (or real property-related assets) and secured by only the
real property (or real property-related assets) to which such Indebtedness relates without recourse to such Person or any of its Restricted Subsidiaries (other than subject to such customary carve-out matters
for which such Person or any of its Restricted Subsidiaries acts as a guarantor in connection with such Indebtedness, such as fraud, misappropriation, breach of representation and warranty and misapplication, unless, until and for so long as a claim
for payment or performance has been made thereunder against such Person (which has not been satisfied) at which time the obligations with respect to any such customary carve-out shall not be considered Non-Recourse Indebtedness, to the extent that such claim is a liability of such Person for GAAP purposes), 

provided that, notwithstanding the foregoing, to the extent that any Non-Recourse Indebtedness is made with
recourse to other assets of a Person or its Restricted Subsidiaries, only that portion of such Non-Recourse Indebtedness that is recourse to such other assets shall be deemed not to be Non-Recourse Indebtedness. 
 “Obligations” means any principal, interest (including any
interest accruing on or subsequent to the filing of a petition in bankruptcy, reorganization or similar proceeding at the rate provided for in the documentation with respect thereto, whether or not such interest are an allowed claim under applicable
state, federal or foreign law), premium, penalties, fees, indemnifications, reimbursements (including reimbursement obligations with respect to letters of credit and banker’s acceptances), damages and other liabilities, and guarantees of
payment of such principal, interest, penalties, fees, indemnifications, reimbursements, damages and other liabilities, payable under the documentation governing any Indebtedness. 

“Offering Memorandum” means the offering memorandum, dated October 29, 2020, relating to the sale of the Initial Notes.

 “Officer” means the Chairman of the Board, any member of the Board, the Chief Executive Officer, the Chief Financial
Officer, the Chief Operating Officer, the President, any Executive Vice President, Senior Vice President, Vice President or Assistant Vice President, the Treasurer, any Assistant Treasurer, the Controller, the Secretary or any Assistant Secretary of
a Person or any other officer of such Person designated by any such individuals. Unless otherwise specified, reference to an “Officer” means an Officer of the Issuer. 

“Officer’s Certificate” means a certificate signed on behalf of a Person by an Officer of such Person. Unless otherwise
specified, reference to an “Officer’s Certificate” means a certificate signed on behalf of the Issuer by an Officer of the Issuer. 

  
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 “Opinion of Counsel” means a written opinion (which opinion may be subject
to customary assumptions and exclusions) from legal counsel who is reasonably acceptable to the Trustee. The counsel may be an employee of, or outside counsel to, the Issuer or a Guarantor. 

“Parent Guarantor” means Finance of America Equity Capital LLC, a Delaware limited liability company, if it is the direct
parent of the Issuer, or, if not, the entity that directly owns 100% of the issued and outstanding Equity Interests in the Issuer and assumes all of the obligations of “Parent Guarantor” under this Indenture pursuant to a supplemental
indenture. 
 “Participant” means, with respect to the Depositary, a Person who has an account with the Depositary (and,
with respect to DTC, shall include Euroclear and Clearstream). 
 “Permitted Asset Swap” means the substantially concurrent
purchase and sale or exchange, including as a deposit for future purchases, of Related Business Assets or a combination of Related Business Assets and Cash Equivalents between the Issuer or any of its Restricted Subsidiaries and another Person;
provided that any Cash Equivalents received in excess of the value of any Cash Equivalents sold or exchanged must be applied in accordance with Section 4.10 hereof. 

“Permitted Funding Indebtedness” means (i) any Permitted Servicing Advance Facility Indebtedness, (ii) any
Permitted Warehouse Indebtedness, (iii) any Permitted Residual Indebtedness, (iv) any Permitted MSR Indebtedness, (v) any Indebtedness under clauses (i), (ii), (iii) or (iv) of this definition that is acquired by the Issuer or
any Subsidiary of the Issuer in connection with a transaction permitted under this Indenture, (vi) any facility that combines any Indebtedness under clauses (i), (ii), (iii), (iv) or (v) of this definition and (vii) any Refinancing of
the Indebtedness under clauses (i), (ii), (iii), (iv), (v) or (vi) of this definition and advanced to the Issuer or any of its Restricted Subsidiaries based upon, and secured by, Servicing Advances, mortgages, mortgage-related securities or
derivatives, loans, MSRs, consumer receivables, REO Assets, Residual Interests or other similar assets (or any interests in any of the foregoing) existing on the Issue Date or created or acquired thereafter, provided, however, that solely as of the
date of the incurrence of such Permitted Funding Indebtedness, the amount of any excess (determined as of the most recent date for which internal financial statements are available) of (A) the amount of any Indebtedness incurred in accordance
with this clause (vii) for which the holder thereof has contractual recourse to the Issuer or its Restricted Subsidiaries to satisfy claims with respect thereto (excluding recourse for matters such as fraud, misappropriation, breaches of
representations, warranties and covenants and misapplication and customary indemnities in connection with such transaction) over (B) the aggregate (without duplication of amounts) Realizable Value of the assets that secure such Indebtedness
shall not be Permitted Funding Indebtedness (but shall not be deemed to be a new incurrence of Indebtedness subject to the covenant described in Section 4.09 except with respect to, and solely to the extent of, any such excess that exists upon
the initial incurrence of such Indebtedness incurred under this clause (vii) which excess shall be entitled to be incurred pursuant to any other provision under the covenant described in Section 4.09). The amount of any Permitted Funding
Indebtedness shall be determined in accordance with the definition of “Indebtedness.” 
 “Permitted Holders”
means any of (i) each of the Investors, (ii) each of the Management Stockholders (including any Management Stockholders holding Equity Interests through an Equityholding Vehicle), (iii) any Person who is acting solely as an
underwriter in connection with a public or private offering of Capital Stock of the Issuer or any of its direct or indirect parent companies, acting in such capacity, (iv) any group (within the meaning of Section 13(d)(3) or
Section 14(d)(2) of the Exchange Act or any successor provision) of which any of the foregoing, any Holding Company, Permitted Plan or any Person or group that becomes a Permitted Holder specified in the last sentence of this definition are
members and any member of such group; provided, that in the case of such group and without giving effect to the existence of such group or any other group, Persons referred to in subclauses (i) through (iii), collectively, have
beneficial ownership of more than 50% of the total voting power of the Voting Stock of the Issuer or any of its direct or indirect parent companies held by such group, (v) any Holding Company and (vi) any Permitted Plan. Any Person or
group whose acquisition of beneficial ownership constitutes a Change of Control in respect of which a Change of Control Offer or Alternate Offer is made or waived in accordance with the requirements of this Indenture, will thereafter, together with
its Affiliates, constitute an additional Permitted Holder. 

  
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 “Permitted Intercompany Activities” means any transactions (A) between
or among the Issuer and its Restricted Subsidiaries that are entered into in the ordinary course of business of the Issuer and its Restricted Subsidiaries and, in the good faith judgment of the Issuer are necessary or advisable in connection with
the ownership or operation of the business of the Issuer and its Restricted Subsidiaries, including, but not limited to, (i) payroll, cash management, purchasing, insurance and hedging arrangements; (ii) management, technology and
licensing arrangements; and (iii) customer loyalty and rewards programs; or (B) between or among the Issuer, its Restricted Subsidiaries and any Captive Insurance Subsidiary. 

“Permitted Investments” means: 

(a) any Investment in the Issuer or any of its Restricted Subsidiaries; 

(b) any Investment in Cash Equivalents or Investment Grade Securities; 

(c) any Investment by the Issuer or any of its Restricted Subsidiaries in a Person (including, to the extent constituting an
Investment, in assets of a Person that represent all or substantially all of its assets or a division, business unit or product line, including research and development and related assets in respect of any product or other assets)if as a result of
such Investment: 
 (i) such Person becomes a Restricted Subsidiary (including by means of a Division); or 

(ii) such Person, in one transaction or a series of related transactions, is amalgamated, merged or consolidated with or into,
or transfers or conveys all or substantially all of its assets (or such division, business unit or product line or other assets) to, or is liquidated into, the Issuer or a Restricted Subsidiary, 

and, in each case, any Investment held by such Person; provided that such Investment was not acquired by such Person in contemplation of
such acquisition, merger, amalgamation, consolidation or transfer; 
 (d) any Investment in securities or other assets,
including earn-outs, not constituting Cash Equivalents or Investment Grade Securities and received in connection with an Asset Sale made pursuant to Section 4.10(a) hereof or any other disposition of assets not constituting an Asset Sale; 

(e) any Investment existing on the Issue Date or made pursuant to binding commitments in effect on the Issue Date or an
Investment consisting of any extension, modification, replacement, reinvestment or renewal of any such Investment or binding commitment existing on the Issue Date; provided that the amount of any such Investment may be increased in such
extension, modification, replacement, reinvestment or renewal only (i) as required by the terms of such Investment or binding commitment as in existence on the Issue Date (including as a result of the accrual or accretion of interest or
original issue discount or the issuance of pay-in-kind securities) or (ii) as otherwise permitted under this Indenture; 

(f) any Investment acquired by the Issuer or any of its Restricted Subsidiaries: 

(i) 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 or consistent with past practice; 
 (ii) in exchange for any other Investment or
accounts receivable, endorsements for collection or deposit held by the Issuer or any such Restricted Subsidiary in connection with or as a result of a bankruptcy, workout, reorganization or recapitalization of the issuer of such other Investment or
accounts receivable (including any trade creditor, supplier or customer); or 
 (iii) in satisfaction of judgments against
other Persons; or 

  
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 (iv) as a result of a foreclosure by the Issuer or any of its Restricted
Subsidiaries with respect to any secured Investment or other transfer of title with respect to any secured Investment in default; 

(g) Hedging Obligations permitted under Section 4.09(b)(x) hereof; 

(h) any Investment in a Similar Business (including Unrestricted Subsidiaries and joint ventures) having an aggregate fair
market value taken together with all other Investments made pursuant to this clause (h) that are at that time outstanding not to exceed the greater of (i) $110.0 million and (ii) 35.0% of LTM EBITDA (in each case, determined on the date
such Investment is made, with the fair market value of each Investment being measured at the time made and without giving effect to subsequent changes in value), plus the amount of any returns (including dividends, payments, interest,
distributions, returns of principal, profits on sale, repayments, income and similar amounts) in respect of such investments; provided, however, that if any Investment pursuant to this clause (h) is made in any Person that is not
a Restricted Subsidiary at the date of the making of such Investment and such Person becomes a Restricted Subsidiary after such date, such Investment shall thereafter be deemed to have been made pursuant to clause (a) above and shall cease to
have been made pursuant to this clause (h); 
 (i) Investments the payment for which consists of Equity Interests (other than
Disqualified Stock) of the Issuer or any of its direct or indirect parent companies; provided that such Equity Interests will not increase the amount available for Restricted Payments under clause (C) of Section 4.07(a) hereof; 

(j) guarantees of Indebtedness permitted under Section 4.09 hereof, performance guarantees and Contingent Obligations and
the creation of Liens on the assets of the Issuer or any Restricted Subsidiary in compliance with Section 4.12 hereof; 

(k) any transaction to the extent it constitutes an Investment that is permitted by and made in accordance with the provisions
of Section 4.11(b) hereof (except transactions described in clauses (ii), (v), (x), (xvi) and (xxiii) of Section 4.11(b) hereof); 

(l) Investments consisting of (i) purchases or other acquisitions of inventory, supplies, material or equipment,
(ii) the leasing, sub-leasing, licensing, sub-licensing, cross-licensing or contribution of intellectual property or pursuant to joint marketing arrangements with
other Persons or (iii) the contribution, assignment, licensing, sub-licensing or other Investment of intellectual property or other general intangibles pursuant to any Intercompany License Agreement and
any other Investments made in connection therewith; 
 (m) Investments having an aggregate fair market value, taken together
with all other Investments made pursuant to this clause (m) that are at that time outstanding not to exceed the greater of (i) $125.0 million and (ii) 40.0% of LTM EBITDA (in each case, determined on the date such Investment is made, with
the fair market value of each Investment being measured at the time made and without giving effect to subsequent changes in value), plus the amount of any returns (including dividends, payments, interest, distributions, returns of principal,
profits on sale, repayments, income and similar amounts) in respect of such investments; provided, however, that if any Investment pursuant to this clause (m) is made in any Person that is not a Restricted Subsidiary of the Issuer
at the date of the making of such Investment and such Person becomes a Restricted Subsidiary after such date, such Investment shall thereafter be deemed to have been made pursuant to clause (a) above and shall cease to have been made pursuant
to this clause (m); 
 (n) [reserved]; 

(o) loans and advances to, or guarantees of Indebtedness of, future, present or former employees, directors, officers,
managers, members, partners, independent contractors, consultants or other service providers not in excess of $40.0 million outstanding at any one time; 

  
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 (p) loans and advances to future, present or former employees, directors,
officers, managers, members, partners, independent contractors, consultants or other service providers (i) for business-related travel or entertainment expenses, moving expenses and other similar expenses or payroll advances, in each case
incurred in the ordinary course of business or consistent with industry practices or (ii) to fund such Person’s purchase of Equity Interests of the Issuer or any direct or indirect parent company thereof or in any management equity vehicle
so investing in such Equity Interests; 
 (q) (i) advances, loans or extensions of trade credit in the ordinary course
of business or consistent with past practice by the Issuer or any of its Restricted Subsidiaries and (ii) Investments constituting deposits, prepayments and/or other credits to suppliers; 

(r) any Investment in any Subsidiary or any joint venture in connection with intercompany cash management arrangements or
related activities arising in the ordinary course of business or consistent with past practice; 
 (s) Investments consisting
of purchases and acquisitions of assets or services in the ordinary course of business or consistent with past practice; 

(t) Investments made in the ordinary course of business or consistent with past practice in connection with obtaining,
maintaining or renewing client contacts; 
 (u) Investments in prepaid expenses, negotiable instruments held for collection
and lease, utility and workers compensation, performance and similar deposits entered into as a result of the operations of the business in the ordinary course of business or consistent with past practice; 

(v) repurchases of the Notes; 

(w) Investments in the ordinary course of business or consistent with past practice consisting of Uniform Commercial Code
Article 3 endorsements for collection or deposit and Article 4 customary trade arrangements with customers consistent with past practices; 

(x) Investments consisting of promissory notes issued by the Issuer or any Restricted Subsidiary to future, present or former
employees, directors, officers, managers, members, partners, independent contractors or consultants of the Issuer or any of its Subsidiaries or their respective estates, spouses or former spouses to finance the purchase or redemption of Equity
Interests of the Issuer or any direct or indirect parent thereof, to the extent the applicable Restricted Payment is permitted by Section 4.07 hereof; 

(y) Investments (including debt obligations and Equity Interests) received in connection with the bankruptcy or reorganization
of suppliers and customers or in settlement of delinquent obligations of, or other disputes with, customers and suppliers arising in the ordinary course of business or consistent with past practice or upon the foreclosure with respect to any secured
Investment or other transfer of title with respect to any secured Investment; 
 (z) any Investment by any Captive Insurance
Subsidiary in connection with the provision of insurance to the Issuer or any of its Subsidiaries, which Investment is made in the ordinary course of business or consistent with past practice of such Captive Insurance Subsidiary, or by reason of
applicable law, rule, regulation or order, or that is required or approved by any regulatory authority having jurisdiction over such Captive Insurance Subsidiary or its business, as applicable; 

(aa) Investments made in connection with Permitted Intercompany Activities and related transactions; 

(bb) Investments made after the Issue Date in joint ventures of the Issuer or any of its Restricted Subsidiaries existing on
the Issue Date; 

  
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 (cc) Investments in joint ventures or
non-Wholly-Owned Subsidiaries of the Issuer or any of its Restricted Subsidiaries, taken together with all other Investments made pursuant to this clause (cc) that are at that time outstanding not to
exceed the greater of (i) $100.0 million and (ii) 30.0% of LTM EBITDA (in each case, determined on the date such Investment is made, with the fair market value of each Investment being measured at the time made and without giving effect to
subsequent changes in value), plus the amount of any returns (including dividends, payments, interest, distributions, returns of principal, profits on sale, repayments, income and similar amounts) in respect of such investments; 

(dd) Investments made from casualty insurance proceeds in connection with the replacement, substitution, restoration or repair
of assets on account of a Casualty Event; 
 (ee) earnest money deposits required in connection with any acquisition
permitted under this Indenture (or similar Investments); 
 (ff) Investments to the extent required by applicable rules under
the Exchange Act or by any governmental authority, including any Investment made in order to avoid any early warning or notice requirements under such rules or requirements; 

(gg) contributions to a “rabbi” trust for the benefit of future, present or former employees, directors, officers,
managers, members, partners, independent contractors or consultants or other service providers or other grantor trusts subject to claims of creditors in the case of bankruptcy of the Issuer or any of its Restricted Subsidiaries; 

(hh) pension fund and other employee benefit plan obligations and liabilities; 

(ii) any other Investment, so long as, after giving pro forma effect to such Investment, the Consolidated Total Debt Ratio
shall be no greater than 2.50 to 1.00; 
 (jj) [reserved]; 

(kk) Investments made as part of the Equity Transactions; 

(ll) Investments by the Issuer or any of its Restricted Subsidiaries in Securitization Entities, Warehouse Facility Trusts, MSR
Facility Trusts, Investments in mortgage-related securities or derivatives or charge-off receivables in the ordinary course of business; 

(mm) Investments arising out of purchases of asset-backed securities of any Securitization Entity and/or Securitization Assets
of any Securitization Entity in the ordinary course of business, consistent with past practice or consistent with industry practice or for the purpose of relieving the Issuer or a Subsidiary of the Issuer of the administrative expense of servicing
such Securitization Entity; 
 (nn) Investments in MSRs (including in the form of repurchases of MSRs); 

(oo) Investments in Residual Interests in connection with any Securitization, Warehouse Facility or MSR Facility; 

(pp) Investments by the Issuer or any Restricted Subsidiary in the form of loans extended to
non-Affiliate borrowers in connection with any loan origination business of the Issuer or such Restricted Subsidiary in the ordinary course of business, consistent with past practice or consistent with
industry practice; 
 (qq) Investments in and making or origination of Servicing Advances, residential or commercial mortgage
loans and Securitization Assets (whether or not made in conjunction with the acquisition of MSRs) (including in the form of repurchases of any of the foregoing); 

  
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 (rr) purchases of mortgage backed securities or similar debt instruments
related to a Similar Business; 
 (ss) Investments in or guarantees of Indebtedness of one or more entities the sole purpose
of which is to originate, acquire, securitize and/or sell loans that are purchased, insured, guaranteed or securitized by any Specified Government Entity; 

(tt) any Co-Investment Transaction; 

(uu) Investments in or by any Subsidiary that is a broker-dealer, state chartered trust company, national trust company in
connection with their “broker-dealer” business, including, without limitation, short-term equity positions maintained in its securities clearing business and margin loans to clients; and 

(vv) Investments made in the ordinary course of the Issuer’s or its Subsidiaries’ Investment Management Business.

 For purposes of determining compliance with this definition, in the event that a proposed Investment (or a portion
thereof) meets the criteria of clauses (a) through (vv) above, the Issuer will be entitled to divide or classify or later divide or reclassify (based on circumstances existing on the date of such reclassification) such Investment (or a
portion thereof) between such clauses (a) through (vv) in any manner that otherwise complies with this definition. 

“Permitted Liens” means, with respect to any Person: 

(a) pledges, deposits or security by such Person under workmen’s compensation laws, unemployment insurance,
employers’ health tax, and other social security laws or similar legislation or other insurance-related obligations (including, but not limited to, in respect of deductibles, self-insured retention amounts and premiums and adjustments thereto)
or indemnification obligations of (including obligations in respect of letters of credit or bank guarantees for the benefit of) insurance carriers providing property, casualty or liability insurance, or good faith deposits in connection with bids,
tenders, contracts (other than for the payment of Indebtedness) or leases to which such Person is a party, or deposits to secure public or statutory obligations of such Person or deposits of cash or U.S. government bonds to secure surety or appeal
bonds to which such Person is a party, or deposits as security for contested taxes or import duties or for the payment of rent, in each case incurred in the ordinary course of business or consistent with past practice; 

(b) Liens imposed by law, such as landlords’, carriers’, warehousemen’s, materialmen’s, repairmen’s,
mechanics’ and other similar Liens, in each case for sums not yet overdue for a period of more than 60 days or, if more than 60 days overdue, that are unfiled and no other action has been taken to enforce such Lien or that are being contested
in good faith by appropriate actions or other Liens arising out of judgments or awards against such Person with respect to which such Person shall then be proceeding with an appeal or other proceedings for review if adequate reserves with respect
thereto are maintained on the books of such Person in accordance with GAAP; 
 (c) Liens for taxes, assessments or other
governmental charges (including any Lien imposed by any pension authority or similar Liens) not yet overdue for a period of more than 60 days or not yet payable or subject to penalties for nonpayment or which are being contested in good faith by
appropriate actions diligently conducted, if adequate reserves with respect thereto are maintained on the books of such Person in accordance with GAAP; 

(d) Liens in favor of issuers of performance, surety, bid, indemnity, warranty, release, appeal or similar bonds or with
respect to other regulatory requirements or letters of credit or bankers acceptances issued, and completion guarantees provided for, in each case, issued pursuant to the request of and for the account of such Person in the ordinary course of its
business or consistent with past practice; 

  
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 (e) minor survey exceptions, minor encumbrances, ground leases, easements or
reservations of, or rights of others for, licenses, rights-of-way, servitudes, sewers, electric lines, drains, telegraph, telephone and cable television lines and other
similar purposes, or zoning, building codes or other restrictions (including minor defects and irregularities in title and similar encumbrances) as to the use of real properties or Liens incidental, to the conduct of the business of such Person or
to the ownership of its properties which were not incurred in connection with Indebtedness and which do not in the aggregate materially interfere with the ordinary conduct of the business of the Issuer or any of its Restricted Subsidiaries, taken as
a whole, and exceptions on title policies insuring Liens granted on any collateral; 
 (f) Liens securing Obligations
relating to any Indebtedness, Disqualified Stock or Preferred Stock permitted to be incurred pursuant to clause (iv), (ix), (xii), (xiii), (xv), (xxii), (xxiii), (xxx)(A) or (xxxiii) of Section 4.09(b) hereof; provided that
(i) Liens securing Obligations relating to any Indebtedness, Disqualified Stock or Preferred Stock to be incurred pursuant to clause (iv) of Section 4.09(b) hereof extend only to the assets so purchased, leased, expanded, constructed,
installed, replaced, repaired or improved (plus improvements, accessions, proceeds or dividends or distributions in respect thereof, or replacements of any thereof); provided further that individual financings of assets provided by one lender
or group of lenders may be cross-collateralized to other financings of assets by such lender or group of lenders or their Affiliates; (ii) Liens securing Obligations relating to any Indebtedness permitted to be incurred pursuant to clause
(xiii) of Section 4.09(b) hereof relate only to Obligations relating to Refinancing Indebtedness that (x) is secured by Liens on all or a portion of the same assets or the same categories or types of assets as the assets (plus
improvements, accessions, proceeds or dividends or distributions in respect thereof, or replacements of any thereof) that secured the Indebtedness being refinanced; provided further that individual financings of assets provided by one lender
or group of lenders may be cross-collateralized to other financings of assets by such lender or group of lenders or their Affiliates; or (y) extends, replaces, refunds, refinances, renews or defeases Indebtedness incurred or Disqualified Stock
or Preferred Stock issued under clauses (iii) (solely to the extent such Indebtedness was secured by a Lien prior to such refinancing), (iv) or (xii) of Section 4.09(b) hereof; (iii) Liens securing Indebtedness permitted to be
incurred pursuant to clause (xiv) of Section 4.09(b) hereof shall only be permitted if such Liens are limited to all or a part of the same property or assets, including Capital Stock acquired (plus improvements, accessions, proceeds or
dividends or distributions in respect thereof, or replacements of any thereof), or of a Person acquired or merged or consolidated with or into the Issuer or any Restricted Subsidiary, in any transaction to which such Indebtedness relates;
(iv) Liens securing Indebtedness permitted to be incurred pursuant to clause (xxiii) of Section 4.09(b) hereof shall only be permitted if such Liens extend only to the assets of Restricted Subsidiaries of the Issuer that are not the
Subsidiary Guarantors (plus improvements, accessions, proceeds or dividends or distributions in respect thereof, or replacements of any thereof); and (v) Liens securing Indebtedness permitted to be incurred pursuant to such clause
(xxxiii) are solely on the assets of the Services Business; 
 (g) Liens existing on the Issue Date, including Liens
securing any Refinancing Indebtedness of any Indebtedness secured by such Liens; 
 (h) Liens on property or shares of stock
or other assets of a Person at the time such Person becomes a Subsidiary; provided that such Liens are not created or incurred in connection with, or in contemplation of, such other Person becoming such a Subsidiary; provided,
further, that such Liens may not extend to any other property or other assets owned by the Issuer or any of its Restricted Subsidiaries; 

(i) Liens on property or other assets at the time the Issuer or a Restricted Subsidiary acquired the property or such other
assets, including any acquisition by means of a merger, amalgamation or consolidation with or into the Issuer or any of its Restricted Subsidiaries; provided that such Liens are not created or incurred in connection with, or in contemplation
of, such acquisition, amalgamation, merger or consolidation; provided, further, that the Liens may not extend to any other property owned by the Issuer or any of its Restricted Subsidiaries; 

(j) Liens securing Obligations relating to any Indebtedness or other obligations of the Issuer or a Restricted Subsidiary owing
to the Issuer or a Restricted Subsidiary permitted to be incurred in accordance with Section 4.09 hereof; 

  
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 (k) Liens securing (i) Hedging Obligations and (ii) obligations in
respect of Bank Products; 
 (l) Liens on specific items of inventory or other goods and proceeds of any Person securing such
Person’s accounts payable or similar trade obligations in respect of bankers’ acceptances or documentary letters of credit issued or created for the account of such Person to facilitate the purchase, shipment or storage of such inventory
or other goods; 
 (m) leases, sub-leases, licenses or
sub-licenses granted to others in the ordinary course of business or consistent with past practice which do not materially interfere with the ordinary conduct of the business of the Issuer or any of its
Restricted Subsidiaries, taken as a whole; 
 (n) Liens arising from Uniform Commercial Code (or equivalent statute)
financing statement filings regarding operating leases or consignments entered into by the Issuer and its Restricted Subsidiaries in the ordinary course of business or consistent with industry practice or purported Liens evidenced by the filing of
precautionary Uniform Commercial Code (or equivalent statute) financing statements or similar public filings; 
 (o) Liens in
favor of the Issuer or any Subsidiary Guarantor; 
 (p) Liens on vehicles or equipment of the Issuer or any of its Restricted
Subsidiaries granted in the ordinary course of business or consistent with past practice; 
 (q) [reserved]; 

(r) Liens to secure any modification, refinancing, refunding, restatement, exchange, extension, renewal or replacement (or
successive refinancing, refunding, restatements, exchange, extensions, renewals or replacements) as a whole, or in part, of any Indebtedness secured by any Lien referred to in the foregoing clauses (f), (g), (h) and (i) above, this clause
(r) and clauses (nn) and (qq) below; provided that (i) such new Lien shall be limited to all or a part of the same assets or the same categories or types of assets as the assets (plus improvements, accessions, proceeds or dividends
or distributions in respect thereof, or replacements of any thereof) that secured the original Lien, and (ii) the Indebtedness secured by such Lien at such time is not increased to any amount greater than the sum of (A) the outstanding
principal amount or, if greater, committed amount of the Indebtedness described under clauses (f), (g), (h) and (i) above, this clause (r) and clauses (mm) and (qq) below at the time the original Lien became a Permitted Lien under
this Indenture, and (B) an amount necessary to pay any fees and expenses (including original issue discount, upfront fees or similar fees) and premiums (including tender premiums) and accrued and unpaid interest, related to such modification,
refinancing, refunding, extension, renewal or replacement; 
 (s) deposits made or other security provided in the ordinary
course of business or consistent with past practice to secure liability to insurance carriers; 
 (t) Liens securing
obligations in an aggregate principal amount outstanding which does not exceed the greater of (i) $80.0 million and (ii) 25.0% of LTM EBITDA (in each case, determined as of the date of such incurrence); 

(u) security given to a public utility or any municipality or governmental authority when required by such utility or authority
in connection with the operations of that Person in the ordinary course of business or consistent with past practice; 
 (v)
Liens securing judgments, awards, attachments or decrees for the payment of money not constituting an Event of Default under clause (v) of Section 6.01(a) hereof; 

(w) Liens in favor of customs and revenue authorities arising as a matter of law to secure payment of customs duties in
connection with the importation of goods in the ordinary course of business or consistent with past practice; 

  
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 (x) Liens (i) of a collection bank arising under Section 4-210 of the Uniform Commercial Code or any comparable or successor provision on items in the course of collection, (ii) attaching to commodity trading accounts or other commodity brokerage
accounts incurred in the ordinary course of business or consistent with past practice, and (iii) in favor of banking or other financial institutions arising as a matter of law or under general terms and conditions encumbering deposits or other
funds maintained with a financial institution (including the right of set-off) and which are within the general parameters customary in the banking industry; 

(y) Liens deemed to exist in connection with Investments in repurchase agreements permitted under Section 4.09 hereof;

 (z) Liens encumbering reasonable customary deposits and margin deposits and similar Liens attaching to commodity trading
accounts or other brokerage accounts incurred in the ordinary course of business or consistent with past practice and not for speculative purposes; 

(aa) Liens that are contractual rights of set-off or netting or rights of pledge
(i) relating to the establishment of depository relations with banks not given in connection with the issuance of Indebtedness, (ii) relating to pooled deposit or sweep accounts of the Issuer or any of its Restricted Subsidiaries to permit
satisfaction of overdraft or similar obligations incurred in the ordinary course of business of the Issuer and its Restricted Subsidiaries or consistent with past practice or (iii) relating to purchase orders and other agreements entered into
with customers of the Issuer or any of its Restricted Subsidiaries in the ordinary course of business or consistent with past practice; 

(bb) Liens securing obligations owed by the Issuer or any Restricted Subsidiary in respect of any overdraft and related
liabilities arising from treasury, depository and cash management services or any automated clearing house transfers of funds; 

(cc) any encumbrance or restriction (including put and call arrangements, rights of first refusal, tag, drag and similar
rights) with respect to Capital Stock of any joint venture, non-Wholly-Owned Subsidiary or similar arrangement pursuant to any joint venture or similar agreement; 

(dd) Liens arising out of conditional sale, title retention, consignment or similar arrangements for the sale or purchase of
goods entered into by the Issuer or any Restricted Subsidiary in the ordinary course of business or consistent with past practice; 

(ee) Liens solely on any cash earnest money deposits made by the Issuer or any of its Restricted Subsidiaries in connection
with any letter of intent or purchase agreement permitted by this Indenture; 
 (ff) ground leases in respect of real
property on which facilities owned or leased by the Issuer or any of its Subsidiaries are located; 
 (gg) Liens on insurance
policies and the proceeds thereof securing the financing of the premiums with respect thereto; 
 (hh) Liens on Capital Stock
of an Unrestricted Subsidiary that secure Indebtedness or other obligations of such Unrestricted Subsidiary; 
 (ii) Liens on
the assets and Equity Interests of non-guarantor Restricted Subsidiaries securing Indebtedness of such Subsidiaries that were permitted by the terms of this Indenture to be incurred; 

(jj) Liens on (i) cash advances or Cash Equivalents in favor of (x) the seller of any property to be acquired in an
Investment permitted under this Indenture to be applied against the purchase price for such Investment, including Liens on Cash Equivalents to secure letters of credit issued to backstop commitments in the course of the Issuer’s or its
Subsidiaries’ Investment Management Business or (y) the buyer of any property to be disposed of to secure obligations in respect of indemnification, termination fee or similar seller obligations and (ii) consisting of an agreement to
dispose of any property in a disposition, in each case, solely to the extent such Investment or disposition, as the case may be, would have been permitted on the date of the creation of such Lien; 

  
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 (kk) any interest or title of a lessor,
sub-lessor, franchisor, licensor or sub-licensor or secured by a lessor’s, sub-lessor’s, franchisor’s,
licensor’s or sub-licensor’s interest under leases or licenses entered into by the Issuer or any of the Restricted Subsidiaries in the ordinary course of business or consistent with past practice or
with respect to intellectual property, software and other technology licenses that is not material to the conduct of the business of the Issuer or its Restricted Subsidiaries, taken as a whole; 

(ll) deposits of cash with the owner or lessor of premises leased and operated by the Issuer or any of its Subsidiaries in the
ordinary course of business of the Issuer and such Subsidiary or consistent with past practice to secure the performance of the Issuer’s or such Subsidiary’s obligations under the terms of the lease for such premises; 

(mm) [reserved]; 

(nn) Liens securing obligations in respect of (1) Indebtedness and other Obligations permitted to be incurred under one or
more Credit Facilities, including any letter of credit facility relating thereto, that was permitted by the terms of this Indenture to be incurred pursuant to Section 4.09(b)(i) and (2) obligations of the Issuer or any Subsidiary in
respect of any Bank Products or Hedging Obligation provided by any lender party to any Credit Facility or any Affiliate of such lender (or any Person that was a lender or an Affiliate of a lender at the time the applicable agreements pursuant to
which such Bank Products are provided were entered into); 
 (oo) Liens on assets deemed to arise in connection with and
solely as a result of the execution, delivery or performance of contracts to sell such assets if such sale is otherwise permitted under this Indenture; 

(pp) Liens on any funds or securities held in escrow accounts or similar arrangements established for the purpose of holding
proceeds from issuances of debt securities or incurrences of other Indebtedness by the Issuer or any of its Restricted Subsidiaries issued after the Issue Date, together with any additional funds required in order to fund any payment of interest or
premium or discount on such Indebtedness (or any costs related to the issuance or incurrence of such Indebtedness), mandatory redemption or sinking fund payment on such debt securities or other Indebtedness; 

(qq) Liens securing the Notes (other than any Additional Notes) and the related Guarantees; 

(rr) Liens on assets securing any Indebtedness owed to any Captive Insurance Subsidiary by the Issuer or any Restricted
Subsidiary; 
 (ss) Liens securing Permitted Funding Indebtedness so long as any such Lien shall encumber only (i) the
assets acquired, funded or originated with the proceeds of such Indebtedness, assets that consist of Servicing Advances, MSRs, loans, mortgages and crop, student, consumer or other secured loans, mortgage-related securities and derivatives and other
mortgage-related receivables, REO Assets, Residual Assets and other similar assets (or any interests in any of the foregoing) subject to and pledged to secure such Indebtedness, (ii) any intangible contract rights and proceeds of, and other
accounts, documents, records and assets directly related to, the assets set forth in the foregoing clause (i) and (iii) the Equity Interests of any entity that owns the assets set forth in the foregoing clauses (i) and (ii); 

(tt) (i) Liens on Servicing Advances, any intangible contract rights and other documents, records and assets directly
related to the foregoing assets and any proceeds thereof securing Permitted Securitization Indebtedness or Non-Recourse Indebtedness, and (ii) Liens on Securitization Assets, any intangible contract
rights and other accounts, documents, records and assets directly related to the forgoing assets and the proceeds thereof incurred in connection with Permitted Securitization Indebtedness or permitted guarantees thereof; 

  
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 (uu) Liens on spread accounts and credit enhancement assets, Liens on the
stock of Restricted Subsidiaries of the Issuer substantially all of which are spread accounts and credit enhancement assets and Liens on interests in Securitization Entities, in each case incurred in connection with Credit Enhancement Agreements;

 (vv) Liens on Servicing Advances, mortgage loans or MSRs or any part thereof and any intangible contract rights and other
accounts, documents, records and property directly related to the foregoing assets and any proceeds thereof, in each case that are the subject of an Excess Spread Sale or an MSR Facility entered into in the ordinary course of business, consistent
with past practice or consistent with industry practice securing obligations under such Excess Spread Sale, Co-Investment Transaction or MSR Facility; 

(ww) Liens on Cash Equivalents and securities (and proceeds thereof) of any Subsidiary that is a broker-dealer, state chartered
trust company or national trust company that are the subject to securities trades; and 
 (xx) Liens on assets of any
Subsidiary that is a broker-dealer, state chartered trust company or national trust company securing broker-dealer financing incurred in the ordinary course of business or consistent with past practice. 

For purposes of this definition, the term “Indebtedness” shall be deemed to include interest on such Indebtedness. In the
event that a Permitted Lien meets the criteria of more than one of the types of Permitted Liens (at the time of incurrence or at a later date), the Issuer in its sole discretion may divide, classify or from time to time reclassify all or any portion
of such Permitted Lien in any manner that complies with this Indenture and such Permitted Lien shall be treated as having been made pursuant only to the clause or clauses of the definition of “Permitted Lien” to which such Permitted Lien
has been classified or reclassified. 
 “Permitted MSR Indebtedness” means MSR Indebtedness; provided, that solely as of
the date of the incurrence of such MSR Indebtedness, the amount of any excess (determined as of the most recent date for which internal financial statements are available) of (x) the amount of any such MSR Indebtedness for which the holder
thereof has contractual recourse to the Issuer or its Restricted Subsidiaries to satisfy claims with respect to such MSR Indebtedness (excluding recourse for matters such as fraud, misappropriation, breaches of representations, warranties and
covenants and misapplication and customary indemnities in connection with such transaction) over (y) the aggregate (without duplication of amounts) Realizable Value of the assets that secure such MSR Indebtedness shall not be Permitted MSR
Indebtedness (but shall not be deemed to be a new incurrence of Indebtedness subject to Section 4.09, except with respect to, and solely to the extent of, any such excess that exists upon the initial incurrence of such Indebtedness which excess
shall be entitled to be incurred pursuant to any other provisions under Section 4.09). The amount of any particular Permitted MSR Indebtedness as of any date of determination shall be calculated in accordance with GAAP. 

“Permitted Plan” means any employee benefits plan of the Issuer or any of its Affiliates and any Person acting in its
capacity as trustee, agent or other fiduciary or administrator of any such plan. 
 “Permitted Residual Indebtedness” means
any Indebtedness of the Issuer or any of its Subsidiaries under a Residual Funding Facility; provided that solely as of the date of the incurrence of such Permitted Residual Indebtedness, the amount of any excess (determined as of the most recent
date for which internal financial statements are available) of (x) the amount of any such Permitted Residual Indebtedness for which the holder thereof has contractual recourse to the Issuer or its Restricted Subsidiaries to satisfy claims with
respect to such Permitted Residual Indebtedness (excluding recourse for matters such as fraud, misappropriation, breaches of representations, warranties and covenants and misapplication and customary indemnities in connection with such transaction)
over (y) the aggregate (without duplication of amounts) Realizable Value of the assets that secure such Permitted Residual Indebtedness shall be deemed not to be Permitted Residual Indebtedness (but shall not be deemed to be a new incurrence of
Indebtedness subject to Section 4.09, except with respect to, and solely to the extent of, any such excess that exists upon the initial incurrence of such Indebtedness which excess shall be entitled to be incurred pursuant to any other
provisions under Section 4.09). 

  
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 “Permitted Securitization Indebtedness” means Securitization Indebtedness;
provided that (1) in connection with any Securitization, any Warehouse Indebtedness or MSR Indebtedness used to finance the purchase, origination or pooling of any Receivables subject to such Securitization is repaid in connection with
such Securitization to the extent of the net proceeds received by the Issuer and its Restricted Subsidiaries from the applicable Securitization Entity, and (2) solely as of the date of the incurrence of such Permitted Securitization
Indebtedness, the amount of any excess (determined as of the most recent date for which internal financial statements are available) of (x) the amount of any such Securitization Indebtedness for which the holder thereof has contractual recourse
to the Issuer or its Restricted Subsidiaries to satisfy claims with respect to such Securitization Indebtedness (excluding recourse for matters such as fraud, misappropriation, breaches of representations, warranties and covenants and misapplication
and customary indemnities in connection with such transaction) over (y) the aggregate (without duplication of amounts) Realizable Value of the assets that secure such Securitization Indebtedness shall not be Permitted Securitization
Indebtedness (but shall not be deemed to be a new incurrence of Indebtedness subject to Section 4.09, except with respect to, and solely to the extent of, any such excess that exists upon the initial incurrence of such Indebtedness which excess
shall be entitled to be incurred pursuant to any other provisions under Section 4.09). 
 “Permitted Servicing Advance Facility
Indebtedness” means any Indebtedness of the Issuer or any of its Subsidiaries incurred under a Servicing Advance Facility; provided, however, that solely as of the date of the incurrence of such Permitted Servicing Advance Facility
Indebtedness, the amount of any excess (determined as of the most recent date for which internal financial statements are available) of (x) the amount of any such Permitted Servicing Advance Facility Indebtedness for which the holder thereof
has contractual recourse to the Issuer or its Restricted Subsidiaries to satisfy claims with respect to such Permitted Servicing Advance Facility Indebtedness (excluding recourse for matters such as fraud, misappropriation, breaches of
representations, warranties and covenants and misapplication and customary indemnities in connection with such transaction) over (y) the aggregate (without duplication of amounts) Realizable Value of the assets that secure such Permitted
Servicing Advance Facility Indebtedness shall not be Permitted Servicing Advance Facility Indebtedness (but shall not be deemed to be a new incurrence of Indebtedness subject to Section 4.09, except with respect to, and solely to the extent of,
any such excess that exists upon the initial incurrence of such Indebtedness under a Servicing Advance Facility which excess shall be entitled to be incurred pursuant to any other provisions under Section 4.09). 

“Permitted Warehouse Indebtedness” means Warehouse Indebtedness; provided, that solely as of the date of the incurrence of
such Warehouse Indebtedness, the amount of any excess (determined as of the most recent date for which internal financial statements are available) of (x) the amount of any such Warehouse Indebtedness for which the holder thereof has
contractual recourse to the Issuer or its Restricted Subsidiaries to satisfy claims with respect to such Warehouse Indebtedness (excluding recourse for matters such as fraud, misappropriation, breaches of representations, warranties and covenants
and misapplication and customary indemnities in connection with such transaction) over (y) the aggregate (without duplication of amounts) Realizable Value of the assets that secure such Warehouse Indebtedness shall not be Permitted Warehouse
Indebtedness (but shall not be deemed to be a new incurrence of Indebtedness subject to Section 4.09, except with respect to, and solely to the extent of, any such excess that exists upon the initial incurrence of such Indebtedness which excess
shall be entitled to be incurred pursuant to any other provisions under Section 4.09). The amount of any particular Permitted Warehouse Indebtedness as of any date of determination shall be calculated in accordance with GAAP. 

“Person” means any individual, corporation, limited liability company, partnership (including a limited partnership), joint
venture, association, joint stock company, trust, unincorporated organization, government or any agency or political subdivision thereof or any other entity. 

“Preferred Stock” means any Equity Interest with preferential rights of payment of dividends or upon liquidation,
dissolution, or winding up. 
 “primary obligations” has the meaning set forth in the definition of “Contingent
Obligations.” 
 “primary obligor” has the meaning set forth in the definition of “Contingent Obligations.”

  
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 “Private Placement Legend” means the legend set forth in
Section 2.06(h)(i) hereof to be placed on all Notes issued under this Indenture, except where otherwise permitted by the provisions of this Indenture. 

“Public Company Costs” means costs associated with or in anticipation of, or preparation for, compliance with the
requirements of the Sarbanes-Oxley Act of 2002 and the rules and regulations promulgated in connection therewith, costs relating to compliance with the provisions of the Securities Act and the Exchange Act, as applicable to companies with equity or
debt securities held by the public, and the rules of national securities exchanges, as applicable to companies with listed equity or debt securities, listing fees, independent directors’ compensation, fees and expense reimbursement, costs
relating to investor relations (including any such costs in the form of investor relations employee compensation), shareholder meetings and reports to shareholders or debtholders, directors’ and officers’ insurance, legal and other
professional fees and/or other costs or expenses, in each case, to the extent arising solely as a result of becoming, being or being acquired by a public company. 

“Purchase Money Obligations” means any Indebtedness incurred to finance or refinance the acquisition, leasing, expansion,
construction, development, installation, replacement, relocation, renewal, maintenance, upgrade, repair or improvement of property (real or personal), equipment or any other assets, and whether acquired through the direct acquisition of such
property or assets, or otherwise (including through the purchase of Capital Stock of any Person owning such property or assets). 

“QIB” means a “qualified institutional buyer” as defined in Rule 144A. 

“Qualified Proceeds” means the fair market value of assets that are used or useful in, or Capital Stock of any Person engaged
in, a Similar Business. 
 “Rating Agencies” means Moody’s and Fitch or, if Moody’s or Fitch or both shall not
make a rating on the Notes publicly available, a nationally recognized statistical rating agency or agencies, as the case may be, selected by the Issuer which shall be substituted for Moody’s or Fitch or both, as the case may be. 

“Realizable Value” of an asset means (1) with respect to any REO Asset, the value realizable upon the disposition of
such asset as determined by the Issuer in its reasonable discretion and consistent with customary industry practice and (2) with respect to any other asset, the market value of such asset as determined by the Issuer in accordance with the
agreement governing the applicable Permitted Servicing Advance Facility Indebtedness, Permitted Warehouse Indebtedness, Permitted MSR Indebtedness, Permitted Funding Indebtedness, Permitted Securitization Indebtedness or Permitted Residual
Indebtedness, as the case may be (or, if such agreement does not contain any related provision, as determined by the Issuer in good faith); provided, however, that the realizable value of any asset described in clause (1) or (2) above which an
unaffiliated third party has a binding contractual commitment to purchase from the Issuer or any of its Restricted Subsidiaries shall be the minimum price payable to the Issuer or such Restricted Subsidiary for such asset pursuant to such
contractual commitment. 
 “Receivables” means loans and other mortgage-related receivables (including Servicing
Receivables and MSRs but excluding Residual Interests and net interest margin securities) purchased or originated by the Issuer or any Restricted Subsidiary or, with respect to Servicing Receivables and MSRs, otherwise arising in the ordinary course
of business, consistent with past practice or consistent with industry practice; provided, however, that for purposes of determining the amount of a Receivable at any time, such amount shall be determined in accordance with GAAP, consistently
applied, as of the most recent practicable date. 
 “Record Date” means, for the interest payable on any applicable
Interest Payment Date, the May 1 and November 1 (whether or not a Business Day) immediately preceding such Interest Payment Date. 

“Regulation S” means Regulation S promulgated under the Securities Act. 

“Regulation S Global Note” means a Regulation S Temporary Global Note or Regulation S Permanent Global Note, as applicable.

  
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 “Regulation S Permanent Global Note” means a permanent Global Note,
substantially in the form of Exhibit A, bearing the Global Note Legend and the Private Placement Legend and deposited with or on behalf of, and registered in the name of, the Depositary or its nominee, issued in a denomination equal to the
outstanding principal amount of the Regulation S Temporary Global Note upon expiration of the applicable Restricted Period. 

“Regulation S Temporary Global Note” means a temporary Global Note, substantially in the form of Exhibit A, bearing
the Global Note Legend and the Private Placement Legend and the Regulation S Temporary Global Note Legend and deposited with or on behalf of, and registered in the name of, the Depositary or its nominee, issued in a denomination equal to the
outstanding principal amount of the Notes initially sold in reliance on Rule 903. 
 “Regulation S Temporary Global Note
Legend” means the legend set forth in Section 2.06(h)(iv) hereof. 
 “Regulated Bank” means an Approved
Commercial Bank that is (i) a U.S. depository institution the deposits of which are insured by the Federal Deposit Insurance Corporation; (ii) a corporation organized under section 25A of the U.S. Federal Reserve Act of 1913; (iii) a
branch, agency or commercial lending company of a foreign bank operating pursuant to approval by and under the supervision of the Board of Governors under 12 CFR part 211; (iv) a non-U.S. branch of a foreign
bank managed and controlled by a U.S. branch referred to in clause (iii); or (v) any other U.S. or non-U.S. depository institution or any branch, agency or similar office thereof supervised by a bank
regulatory authority in any jurisdiction. 
 “Related Business Assets” means assets (other than Cash Equivalents) used or
useful in a Similar Business or any securities of a Person received by the Issuer or a Restricted Subsidiary in exchange for assets transferred by the Issuer or a Restricted Subsidiary. 

“REO Asset” of a Person means a real estate asset owned by such Person and acquired as a result of the foreclosure or other
enforcement of a lien on such asset securing a Servicing Advance or loans and other mortgage-related receivables. 
 “Required Asset
Sale” means any Asset Sale that is a result of a repurchase right or obligation or a mandatory sale right or obligation related to (1) MSRs, (2) pools or portfolios of MSRs, (3) Securitization Assets or (4) the Capital Stock
of any Person that holds MSRs or pools or portfolios of MSRs, which rights or obligations are either in existence on the Issue Date (or substantially similar in nature to such rights or obligations in existence on the Issue Date) or pursuant to the
guidelines or regulations of a Specified Government Entity. 
 “Reserved Indebtedness Amount” has the meaning set forth in
the covenant described in Section 4.09. 
 “Residual Funding Facility” means any funding arrangement with a financial
institution or institutions or other lenders, purchasers or investors under which advances are made to the Issuer or any Restricted Subsidiary secured by Residual Interests. 

“Residual Interests” means any residual, subordinated, reserve accounts and retained ownership interest held by the Issuer or
a Restricted Subsidiary in Securitization Entities, Warehouse Facility Trusts and/or MSR Facility Trusts, regardless of whether required to appear on the face of the consolidated financial statements in accordance with GAAP. 

“Responsible Officer” means, when used with respect to the Trustee, any officer within the corporate trust department of the
Trustee, including any managing director, director, vice president, assistant vice president, assistant secretary, associate assistant treasurer, senior trust officer or any other officer of the Trustee who customarily performs functions similar to
those performed by the Persons who at the time shall be such officers, respectively, or to whom any corporate trust matter is referred because of such Person’s knowledge of and familiarity with the particular subject and, in each case, who
shall have direct responsibility for the administration of this Indenture. 
 “Restricted Definitive Notes” means a
Definitive Note bearing, or that is required to bear, the Private Placement Legend. 

  
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 “Restricted Global Notes” means a Global Note bearing, or that is required
to bear, the Private Placement Legend. 
 “Restricted Investment” means an Investment other than a Permitted Investment.

 “Restricted Period” means, in respect of any Note issued under Regulation S, the
40-day distribution compliance period as defined in Regulation S applicable to such Note. 

“Restricted Subsidiary” means, with respect to any Person, at any time, any direct or indirect Subsidiary of such Person
(including any Foreign Subsidiary) that is not then an Unrestricted Subsidiary; provided that upon an Unrestricted Subsidiary ceasing to be an Unrestricted Subsidiary, such Subsidiary shall be included in the definition of “Restricted
Subsidiary.” Unless the context otherwise requires, any references to Restricted Subsidiary refer to a Restricted Subsidiary of the Issuer. 

“Rule 144” means Rule 144 promulgated under the Securities Act. 

“Rule 144A” means Rule 144A promulgated under the Securities Act. 

“Rule 903” means Rule 903 promulgated under the Securities Act. 

“Rule 904” means Rule 904 promulgated under the Securities Act. 

“S&P” means S&P Global Ratings, a business unit of Standard & Poor’s Financial Services LLC, and any
successor to its rating agency business. 
 “Sale and Lease-Back Transaction” means any arrangement providing for the
leasing by the Issuer or any of its Restricted Subsidiaries of any real or tangible personal property, which property has been or is to be sold or transferred by the Issuer or such Restricted Subsidiary to a third Person in contemplation of such
leasing. 
 “SEC” means the U.S. Securities and Exchange Commission, or any successor thereto. 

“Screened Affiliate” means any Affiliate of a Holder or, if the Holder is DTC or DTC’s nominee, of a beneficial owner,
(i) that makes investment decisions independently from such Holder or beneficial owner and any other Affiliate of such Holder that is not a Screened Affiliate, (ii) that has in place customary information screens between it and such Holder
or beneficial owner and any other Affiliate of such Holder or beneficial owner that is not a Screened Affiliate and such screens prohibit the sharing of information with respect to the Issuer or its Subsidiaries, (iii) whose investment policies
are not directed by such Holder or beneficial owner or any other Affiliate of such Holder or beneficial owner that is acting in concert with such Holder in connection with its investment in the Notes and (iv) whose investment decisions are not
influenced by the investment decisions of such Holder or beneficial owner or any other Affiliate of such Holder or beneficial owner that is acting in concert with such Holders or beneficial owners in connection with its investment in the Notes. 

“Secured Indebtedness” means any Indebtedness of the Issuer or any of its Restricted Subsidiaries secured by a Lien. 

“Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations of the SEC promulgated
thereunder. 
 “Securitization” means a public or private transfer, sale or financing, including through any of one or more
receivables, factoring or securitization financing facilities as amended, supplemented, modified, extended, renewed, restated or refunded from time to time, of (1) Servicing Advances, (2) MSRs, (3) mortgage loans, (4) installment
contracts, (5) deferred servicing fees, (6) warehouse loans secured by mortgage loans, (7) mortgage-related securities and derivatives, including interest only securities and/or (7) other loans, accounts receivable, payables and
other similar assets (or any interest in any of the foregoing) and any other asset capable of being securitized (clauses (1) through (7), collectively, the “Securitization Assets”) by which the Issuer or any of its Restricted
Subsidiaries directly or indirectly securitizes a pool of specified Securitization Assets including, without limitation, any such transaction involving the sale of specified Securitization Assets to a Securitization Entity or a Specified Government
Entity (including a Securitization Entity established by such Specified Government Entity). 

  
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 “Securitization Assets” has the meaning set forth in the definition of
“Securitization.” 
 “Securitization Entity” means (1) any Person (whether or not a Subsidiary of the
Issuer) established for the purpose of issuing asset-backed or mortgaged-backed or mortgage pass-through securities of any kind (including collateralized mortgage obligations and net interest margin securities), (2) any special purpose Subsidiary of
the Issuer established for the purpose of selling, depositing or contributing Securitization Assets into a Person described in clause (1) or holding securities in any related Securitization Entity, regardless of whether such Person is an issuer
of securities; provided that such Person is not an obligor with respect to any Indebtedness of the Issuer or any Guarantor, and (3) any special purpose Subsidiary of the Issuer formed exclusively for the purpose of satisfying the requirements
of Credit Enhancement Agreements and regardless of whether such Subsidiary is an issuer of securities; provided that such Person is not an obligor with respect to any Indebtedness of the Issuer or any Guarantor other than under Credit Enhancement
Agreements. 
 “Securitization Indebtedness” means (i) Indebtedness of the Issuer or any of its Restricted
Subsidiaries incurred pursuant to on-balance sheet Securitizations treated as financings and (ii) any Indebtedness consisting of advances made to the Issuer or any of its Restricted Subsidiaries based
upon securities issued by a Securitization Entity pursuant to a Securitization and acquired or retained by the Issuer or any of its Restricted Subsidiaries. 

“Securitization Subsidiary” means any Securitization Entity that is a direct or indirect Subsidiary of the Issuer. 

“Senior Indebtedness” means: 

(a) all Indebtedness of the Issuer or any Subsidiary Guarantor outstanding under the Existing Facilities and the Notes and
related guarantees (including interest accruing on or after the filing of any petition in bankruptcy or similar proceeding or for reorganization of the Issuer or any Subsidiary Guarantor (at the rate provided for in the documentation with respect
thereto, regardless of whether or not a claim for post-filing interest is allowed in such proceedings)), and any and all other fees, expense reimbursement obligations, indemnification amounts, penalties, and other amounts (whether existing on the
Issue Date or thereafter created or incurred) and all obligations of the Issuer or any Subsidiary Guarantor to reimburse any bank or other Person in respect of amounts paid under letters of credit, acceptances or other similar instruments; 

(b) all (x) Hedging Obligations (and guarantees thereof) and (y) obligations in respect of Bank Products (and
guarantees thereof); provided that such Hedging Obligations and obligations in respect of Bank Products, as the case may be, are permitted to be incurred under the terms of this Indenture; 

(c) any other Indebtedness of the Issuer or any Subsidiary Guarantor permitted to be incurred under the terms of this
Indenture, unless the instrument under which such Indebtedness is incurred expressly provides that it is subordinated in right of payment to the Notes or any related Guarantee; and 

(d) all Obligations with respect to the items listed in the preceding clauses (a), (b) and (c); provided that Senior
Indebtedness shall not include: 
 (i) any obligation of such Person to the Issuer or any of its Subsidiaries; 

(ii) any liability for federal, state, local or other taxes owed or owing by such Person; 

(iii) any accounts payable or other liability to trade creditors arising in the ordinary course of business; 

  
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 (iv) any Indebtedness or other Obligation of such Person which is
subordinate or junior in right of payment to any other Indebtedness or other Obligation of such Person; or 
 (v) that
portion of any Indebtedness which at the time of incurrence is incurred in violation of this Indenture. 
 “Services
Business” means a Person that provides, or to which the Issuer contributes one or more Subsidiaries or other assets that provides, one or more real estate logistics, brokerage, advisory, reporting, settlement, title and management and
similar services other than mortgage servicing or loan origination, including but not limited to one or more of REO Assets, field services, valuation and title services and recovery services, after which contribution the Services Business shall be
deemed to include such Person and its Subsidiaries. 
 “Services Business Total Assets” means the total assets of the
Services Business on a consolidated basis, as shown on the most recent consolidated balance sheet of the Services Business as of the end of the most recent fiscal quarter for which internal financial statements are available immediately preceding
the applicable date of calculation. 
 “Servicing Advances” means (x) advances made by the Issuer or any of its
Restricted Subsidiaries in its capacity as servicer or any predecessor servicer of any mortgage-related receivables to fund principal, interest, escrow, foreclosure, insurance, tax or other payments or advances when the borrower on the underlying
receivable is delinquent in making payments on such receivable; to enforce remedies or manage or liquidate REO Assets or (y) advances made by the Issuer or any of its Restricted Subsidiaries in its capacity as servicer or any predecessor
servicer. 
 “Servicing Advance Facility” means any funding arrangement with financial institutions or other lenders,
purchasers or investors collateralized in whole or in part by obligations related to Servicing Advances under which advances are made to the Issuer or any of its Restricted Subsidiaries based on such collateral. 

“Servicing Receivables” means rights to collections under mortgage-related receivables, or other rights to reimbursement of
Servicing Advances that the Issuer or a Restricted Subsidiary has made in the ordinary course of business, consistent with past practice or consistent with industry practice. 

“Short Derivative Instrument” means a Derivative Instrument (i) the value of which generally decreases, and/or the
payment or delivery obligations under which generally increase, with positive changes to the Performance References and/or (ii) the value of which generally increases, and/or the payment or delivery obligations under which generally decrease,
with negative changes to the Performance References. 
 “Significant Subsidiary” means any Restricted Subsidiary that would
be a “significant subsidiary” as defined in Article 1, Rule 1-02, clauses(w)(1) or (2) of Regulation S-X promulgated pursuant to the Securities Act, as
such regulation is in effect on the Issue Date. 
 “Similar Business” means (a) any business conducted or proposed to
be conducted by the Issuer or any of its Restricted Subsidiaries on the Issue Date, and any reasonable extension thereof, or (b) any business or other activities that are reasonably similar, ancillary, incidental, complementary, synergistic or
related to, or a reasonable extension, development or expansion of, the businesses in which the Issuer and its Restricted Subsidiaries are engaged or propose to be engaged on the Issue Date. 

“Specified Government Entities” mean the Federal Housing Administration, Veterans Administration, Ginnie Mae, Fannie Mae,
Freddie Mac or other similar governmental agencies or government sponsored programs. 
 “Subordinated Indebtedness” means,
with respect to the Notes, 
 (1) any Indebtedness of the Issuer which is by its terms subordinated in right of payment to
the Notes, and 

  
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 (2) any Indebtedness of any Subsidiary Guarantor which is by its terms
subordinated in right of payment to the Guarantee of such entity of the Notes. 
 “Subsidiary” means, with respect to any
Person: 
 (a) any corporation, association, or other business entity (other than a partnership, joint venture, limited
liability company or similar entity) of which more than 50.0% of the total voting power of shares of Capital Stock entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof is
at the time of determination owned or controlled, directly or indirectly, by such Person or one or more of the other Subsidiaries of that Person or a combination thereof; and 

(b) any partnership, joint venture, limited liability company or similar entity of which: 

(i) more than 50.0% of the capital accounts, distribution rights, total equity and voting interests or general or limited
partnership interests, as applicable, are owned or controlled, directly or indirectly, by such Person or one or more of the other Subsidiaries of that Person or a combination thereof whether in the form of membership, general, special or limited
partnership or otherwise; and 
 (ii) such Person or any Restricted Subsidiary of such Person is a controlling general
partner or otherwise controls such entity. 
 For the avoidance of doubt, unless otherwise specified, any entity that is owned at a 50.0% or
less level (as described above) shall not be a “Subsidiary” for any purpose under this Indenture, regardless of whether such entity is consolidated on the Issuer’s or any Restricted Subsidiary’s financial statements. For
all purposes under this Indenture, no pooled investment vehicle, investment company (or series thereof), collective investment scheme, investment fund, managed account or société d’investissement à capital variable for
collective investment by bona fide third parties for which and for so long as the Issuer or any of its Subsidiaries or Affiliates serves as general partner, managing member, investment manager, investment adviser or
sub-adviser or sponsor, as applicable, shall be considered a “Subsidiary” for any purpose under this Indenture, regardless of whether such entity is consolidated on the Issuer’s or any
Restricted Subsidiary’s financial statements. Unless the context otherwise requires, any references to Subsidiary refer to a Subsidiary of the Issuer. 

“Subsidiary Guarantor” means each Restricted Subsidiary of the Issuer, if any, that Guarantees the Notes in accordance with
the terms of this Indenture; provided that upon release or discharge of such Restricted Subsidiary from its Guarantee in accordance with this Indenture, such Restricted Subsidiary ceases to be a Subsidiary Guarantor. 

“Taxes” means all present and future taxes, levies, imposts, deductions, charges, duties and withholdings and any charges of
a similar nature (including interest and penalties with respect thereto) that are imposed by any government or other taxing authority. 

“Tax Receivable Agreements” means the tax receivable agreements to be entered into in connection with the Equity
Transactions containing terms substantially consistent with those described in the Offering Memorandum or any amendment, modification or replacement to such tax receivables agreements (so long as any such amendment, modification or replacement is
not materially disadvantageous to the Holders). 
 “Trust Indenture Act” means the Trust Indenture Act of 1939, as amended
(15 U.S.C. §§ 77aaa-77bbbb). 
 “Trustee” means U.S. Bank National Association, as trustee, until a
successor replaces it in accordance with the applicable provisions of this Indenture and thereafter means the successor serving hereunder. 

  
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 “Uniform Commercial Code” means the Uniform Commercial Code or any
successor provision thereof as the same may from time to time be in effect in the State of New York. References in this Indenture to specific sections of the Uniform Commercial Code are based on the Uniform Commercial Code as in effect in the State
of New York on the Issue Date. In the event such Uniform Commercial Code is amended, such section reference shall be deemed to be references to the comparable section in such amended Uniform Commercial Code. 

“Unrestricted Definitive Notes” means one or more Definitive Notes that do not bear and are not required to bear the Private
Placement Legend. 
 “Unrestricted Global Notes” means a permanent Global Note, substantially in the form of Exhibit
A hereto, bearing the Global Note Legend and that has the “Schedule of Exchanges of Interests in the Global Note” attached thereto, and that is deposited with or on behalf of and registered in the name of the Depositary, representing
Notes that do not bear the Private Placement Legend. 
 “Unrestricted Subsidiary” means: 

(a) any Subsidiary of the Issuer which at the time of determination is an Unrestricted Subsidiary (as designated by the Issuer,
as provided below); and 
 (b) any Subsidiary of an Unrestricted Subsidiary. 

The Issuer may designate any Subsidiary of the Issuer (including any existing Subsidiary and any newly acquired or newly formed Subsidiary) to
be an Unrestricted Subsidiary unless such Subsidiary or any of its Subsidiaries owns any Equity Interests or Indebtedness of, or owns or holds any Lien on, any property of, the Issuer or any Subsidiary of the Issuer (other than solely any Subsidiary
of the Subsidiary to be so designated); provided that either (a) the Subsidiary to be so designated has total consolidated assets of $1,000 or less or (b) if the Subsidiary to be so designated has total consolidated assets in excess
of $1,000, such designation complies with Section 4.07 hereof. If, at any time, any Unrestricted Subsidiary would fail to meet the preceding requirements as an Unrestricted Subsidiary, it will thereafter cease to be an Unrestricted Subsidiary
for purposes of this Indenture and any Indebtedness of such Subsidiary will be deemed to be incurred by a Restricted Subsidiary of the Issuer as of such date and, if such Indebtedness is not permitted to be incurred as of such date under
Section 4.09 hereof, the Issuer will be in Default of Section 4.09 hereof. 
 The Issuer may designate any Unrestricted Subsidiary
to be a Restricted Subsidiary; provided that, immediately after giving effect to such designation, (i) no Default shall have occurred and be continuing and (ii) (x) any outstanding Indebtedness of such Unrestricted Subsidiary would
be permitted to be incurred by a Restricted Subsidiary under Section 4.09 hereof (including pursuant to clause (xiv) of Section 4.09(b) hereof treating such redesignation as an acquisition for the purpose of such clause) and shall be
deemed to be incurred thereunder and (y) all Liens encumbering the assets of such Unrestricted Subsidiary would be permitted to be incurred by a Restricted Subsidiary under Section 4.12 hereof and shall be deemed to be incurred thereunder,
in each case calculated on a pro forma basis as if such designation had occurred at the beginning of the applicable reference period. 
 Any
such designation by the Issuer shall be notified by the Issuer to the Trustee by promptly delivering to the Trustee a copy of the resolution of the Board of the Issuer or any direct or indirect parent of the Issuer giving effect to such designation
and an Officer’s Certificate certifying that such designation complied with the foregoing provisions. 

“U.S. Dollar Equivalent” means with respect to any monetary amount in a currency other than U.S. dollars,
at any time for determination thereof, the amount of U.S. dollars obtained by converting such foreign currency involved in such computation into U.S. dollars at the spot rate for the purchase of U.S. dollars with the applicable foreign currency as
published in The Wall Street Journal in the “Exchange Rates” column under the heading “Currency Trading” on the date two business days prior to such determination. 

“U.S. Government Securities” means securities that are: 

(a) direct obligations of the United States of America for the timely payment of which its full faith and credit is pledged; or

  
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 (b) obligations of a Person controlled or supervised by and acting as an
agency or instrumentality of the United States of America the timely payment of which is unconditionally guaranteed as a full faith and credit obligation by the United States of America, 

which, in either case, are not callable or redeemable at the option of the issuer thereof, and shall also include a depository receipt issued by a bank (as
defined in Section 3(a)(2) of the Securities Act), as custodian with respect to any such U.S. Government Securities or a specific payment of principal of or interest on any such U.S. Government Securities held by such custodian for the account
of the holder of such depository receipt; provided that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depository receipt from any amount received by the
custodian in respect of the U.S. Government Securities or the specific payment of principal of or interest on the U.S. Government Securities evidenced by such depository receipt. 

“U.S. Person” means a U.S. person as defined in Rule 902(k) under the Securities Act. 

“Voting Stock” of any Person as of any date means the Capital Stock of such Person that is at the time entitled to vote in
the election of the Board of such Person. 
 “Warehouse Facility” means any financing arrangement of any kind, including,
but not limited to, financing arrangements in the form of repurchase facilities, loan agreements, note and/or other security issuance facilities and commercial paper facilities (excluding in all cases, Securitizations), with one or more financial
institutions or other lenders, purchasers or investors to (1) finance or refinance the purchase, origination, funding, facilitation or servicing by the Issuer or a Restricted Subsidiary of mortgages, loans, mortgage-related securities and
derivatives, charge-off receivables and other mortgage-related receivables purchased, originated, funded, facilitated or serviced by the Issuer or any Restricted Subsidiary in the ordinary course of business,
consistent with past practice or consistent with industry practice, including by providing funding to the Issuer or a Restricted Subsidiary through the transfer of such mortgages, loans, mortgage-related securities and derivatives, charge-off receivables and other mortgage-related receivables, (2) finance or refinance the funding or refinancing of Servicing Advances or (3) finance or refinance the purchase, carrying, funding or
servicing of REO Assets related to mortgages and crop, student, consumer or other loans, mortgage-related securities and derivatives, charge-off receivables and other mortgage-related receivables purchased,
originated, funded, financing, facilitated, refinancing or serviced by the Issuer or any Restricted Subsidiary; provided that such purchase, origination, funding, financing, refinancing or servicing is in the ordinary course of business, consistent
with past practice or consistent with industry practice. 
 “Warehouse Facility Trust” means any Person (whether or not a
Subsidiary of the Issuer) established for the purpose of entering into financing arrangements in connection with a Warehouse Facility, which are backed by (1) specified Servicing Advances purchased by, and/or contributed to, such Person from
the Issuer or any of its Restricted Subsidiaries, (2) specified mortgages and crop, student, consumer or other loans, mortgage-related securities and derivatives, charge-off receivables and other
mortgage-related receivables purchased by, and/or contributed to, such Person from the Issuer or any of its Restricted Subsidiaries or (3) the purchase, carrying, funding or servicing of REO Assets related to mortgages, loans, mortgage-related
securities and derivatives, charge-off receivables and other mortgage-related receivables purchased by, and/or contributed to, such Person from the Issuer or any Restricted Subsidiary. 

“Warehouse Indebtedness” means Indebtedness in connection with a Warehouse Facility; provided that the amount of any
particular Warehouse Indebtedness as of any date of determination shall be calculated in accordance with GAAP. 
 “Weighted Average
Life to Maturity” means, when applied to any Indebtedness, Disqualified Stock or Preferred Stock, as the case may be, at any date, the quotient obtained by dividing: 

(a) the sum of the products of the number of years from the date of determination to the date of each successive scheduled
principal payment of such Indebtedness or redemption or similar payment with respect to such Disqualified Stock or Preferred Stock multiplied by the amount of such payment; by 

  
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 (b) the sum of all such payments; 

provided that for purposes of determining the Weighted Average Life to Maturity of any Indebtedness that is being extended, replaced, refunded,
refinanced, renewed or defeased (the “Applicable Indebtedness”), the effects of any amortization or prepayments made on such Applicable Indebtedness prior to the date of the applicable extension, replacement, refunding, refinancing,
renewal or defeasance shall be disregarded. 
 “Wholly-Owned Subsidiary” of any Person means a Subsidiary of such Person,
100.0% of the outstanding Voting Stock of which (other than directors’ qualifying shares and shares issued to foreign nationals as required by applicable law) shall at the time be owned by such Person and/or by one or more Wholly-Owned
Subsidiaries of such Person. 
 Section 1.02. Other Definitions. 

 

			
	 Term
	  	Defined
in Section
	“Acceptable Commitment”	  	4.10(b)
	“Advance Offer”	  	4.10(c)
	“Advance Portion”	  	4.10(c)
	“Affiliate Transaction”	  	4.11(a)
	“Alternate Offer”	  	4.14(k)
	“Applicable AML Law”	  	12.16
	“Applicable Premium Deficit”	  	8.04(a)
	“Asset Sale Offer”	  	4.10(c)
	“Authentication Agent”	  	2.02
	“Authentication Order”	  	2.02
	“Change of Control Offer”	  	4.14
	“Change of Control Payment”	  	4.14
	“Change of Control Payment Date”	  	4.14(b)
	“Covenant Defeasance”	  	8.03
	“Covenant Suspension Event”	  	4.17(a)
	“Declined Proceeds”	  	4.10(c)
	“DTC”	  	2.03
	“ERISA”	  	2.06(h)
	“Event of Default”	  	6.01(a)
	“Excess Proceeds”	  	4.10(c)
	“Excess Proceeds Threshold”	  	4.10(c)
	“Foreign Disposition”	  	4.10(b)
	“Increased Amount”	  	4.12
	“incur” and “incurrence”	  	4.09(a)
	“LCT Election”	  	1.06
	“LCT Test Date”	  	1.06
	“Legal Defeasance”	  	8.02
	“Note Register”	  	2.03
	“Offer Amount”	  	3.08(b)
	“Offer Period”	  	3.08(b)
	“Pari Passu Indebtedness”	  	4.10(c)
	“Paying Agent”	  	2.03
	“Purchase Date”	  	3.08(b)
	“Redemption Date”	  	3.01
	“Refinancing Indebtedness”	  	4.09(b)(xiii)
	“Refunding Capital Stock”	  	4.07(b)(ii)
	“Registrar”	  	2.03
	“Reserved Indebtedness Amount”	  	4.09(c)(vi)
	“Restricted Payments”	  	4.07(a)
	“Reversion Date”	  	4.17(c)

  
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	 Term
	  	Defined
 in Section

	“Second Commitment”	  	4.10(b)
	“Subject Lien”	  	4.12
	“Successor Company”	  	5.01(a)
	“Successor Person”	  	5.01(f)
	“Suspended Covenants”	  	4.17(a)
	“Suspension Period”	  	4.17(e)
	“Suspension Date”	  	4.17(a)
	“Transfer Agent”	  	2.03
	“Treasury Capital Stock”	  	4.07(b)(ii)

 Section 1.03. Rules of Construction. Unless the context otherwise requires:

 (a) a term has the meaning assigned to it; 

(b) an accounting term not otherwise defined has the meaning assigned to it in accordance with GAAP; 

(c) “or” is not exclusive; 

(d) the words “including,” “includes” and similar words shall be deemed to be followed by “without
limitation”; 
 (e) words in the singular include the plural, and in the plural include the singular; 

(f) “shall” and “will” shall be interpreted to express a command; 

(g) provisions apply to successive events and transactions; 

(h) references to sections of, or rules under, the Securities Act or the Exchange Act shall be deemed to include substitute,
replacement or successor sections or rules adopted by the SEC from time to time; 
 (i) unless the context otherwise
requires, any reference to an “Article,” “Section” or “clause” refers to an Article, Section or clause, as the case may be, of this Indenture; 

(j) the words “herein,” “hereof” and “hereunder” and other words of similar import refer to this
Indenture as a whole and not any particular Article, Section, clause or other subdivision; 
 (k) the principal amount of any
non-interest bearing or other discount security at any date shall be the principal amount thereof that would be shown on a balance sheet of the Issuer dated such date prepared in accordance with GAAP; 

(l) words used herein implying any gender shall apply to both genders; 

(m) 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”; and 

(n) the principal amount of any Preferred Stock at any time shall be (i) the maximum liquidation value of such Preferred
Stock at such time or (ii) the maximum mandatory redemption or mandatory repurchase price with respect to such Preferred Stock at such time, whichever is greater. 

  
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 Section 1.04. Acts of Holders. 

(a) Any request, demand, authorization, direction, notice, consent, waiver or other action provided by this Indenture to be given or taken by
Holders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such Holders in person or by an agent duly appointed in writing. Except as herein otherwise expressly provided, such action shall become
effective when such instrument or instruments are delivered to the Trustee and, where it is hereby expressly required, to the Issuer. Proof of execution of any such instrument or of a writing appointing any such agent, or the holding by any Person
of a Note, shall be sufficient for any purpose of this Indenture and (subject to Section 7.01 hereof) conclusive in favor of the Trustee and the Issuer, if made in the manner provided in this Section 1.04. 

(b) The fact and date of the execution by any Person of any such instrument or writing may be proved by the affidavit of a witness of such
execution or by the certificate of any notary public or other officer authorized by law to take acknowledgments of deeds, certifying that the individual signing such instrument or writing acknowledged to him the execution thereof. Where such
execution is by or on behalf of any legal entity other than an individual, such certificate or affidavit shall also constitute proof of the authority of the Person executing the same. The fact and date of the execution of any such instrument or
writing, or the authority of the Person executing the same, may also be proved in any other manner that the Trustee deems sufficient. 
 (c)
The ownership of Notes shall be proved by the Note Register. 
 (d) Any request, demand, authorization, direction, notice, consent, waiver or
other action by the Holder of any Note shall bind every future Holder of the same Note and the Holder of every Note issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof, in respect of any action taken, suffered
or omitted by the Trustee or the Issuer in reliance thereon, whether or not notation of such action is made upon such Note. 
 (e) The Issuer
may set a record date for purposes of determining the identity of Holders entitled to give any request, demand, authorization, direction, notice, consent, waiver or take any other act, or to vote or consent to any action by vote or consent
authorized or permitted to be given or taken by Holders. Unless otherwise specified, if not set by the Issuer prior to the first solicitation of a Holder made by any Person in respect of any such action, or in the case of any such vote, prior to
such vote, any such record date shall be the later of 10 days prior to the first solicitation of such consent or the date of the most recent list of Holders furnished to the Trustee prior to such solicitation. 

(f) Without limiting the foregoing, a Holder entitled to take any action hereunder with regard to any particular Note may do so with regard to
all or any part of the principal amount of such Note or by one or more duly appointed agents, each of which may do so pursuant to such appointment with regard to all or any part of such principal amount. Any notice given or action taken by a Holder
or its agents with regard to different parts of such principal amount pursuant to this Section 1.04(f) shall have the same effect as if given or taken by separate Holders of each such different part. 

(g) Without limiting the generality of the foregoing, a Holder, including DTC, that is a Holder of a Global Note, may make, give or take, by a
proxy or proxies duly appointed in writing, any request, demand, authorization, direction, notice, consent, waiver or other action provided in this Indenture to be made, given or taken by Holders, and any Person that is a Holder of a Global Note,
including DTC, may provide its proxy or proxies to the beneficial owners of interests in any such Global Note, through such Depositary’s standing instructions and customary practices. 

(h) The Issuer may fix a record date for the purpose of determining the Persons who are beneficial owners of interests in any Global Note held
by DTC entitled under the procedures of such Depositary to make, give or take, by a proxy or proxies duly appointed in writing, any request, demand, authorization, direction, notice, consent, waiver or other action provided in this Indenture to be
made, given or taken by Holders. If such a record date is fixed, the Holders on such record date or their duly appointed proxy or proxies, and only such Persons, shall be entitled to make, give or take such request, demand, authorization, direction,
notice, consent, waiver or other action, whether or not such Holders remain Holders after such record date. No such request, demand, authorization, direction, notice, consent, waiver or other action shall be valid or effective if made, given or
taken more than 120 days after such record date. 

  
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 Section 1.05. Timing of Payment. Notwithstanding anything
herein to the contrary, if the date on which any payment is to be made pursuant to this Indenture or the Notes is not a Business Day, the payment otherwise payable on such date shall be payable on the next succeeding Business Day with the same force
and effect as if made on such scheduled date and (provided such payment is made on such succeeding Business Day) no interest shall accrue on the amount of such payment from and after such scheduled date to the time of such payment on such
next succeeding Business Day and the amount of any such payment that is an interest payment will reflect accrual only through the original payment date and not through the next succeeding Business Day. 

Section 1.06. Limited Condition Transactions. When calculating the availability under any basket, test or
ratio under this Indenture or compliance with any provision of this Indenture in connection with any Limited Condition Transaction and any actions or transactions related thereto (including acquisitions, Investments, the incurrence, issuance or
assumption of Indebtedness, Disqualified Stock or Preferred Stock and the use of proceeds thereof, the incurrence or assumption of Liens, repayments, Restricted Payments, the designation of any Restricted Subsidiaries or Unrestricted Subsidiaries,
and Asset Sales or any disposition, issuance or other transaction excluded from the definition of “Asset Sale”), in each case, at the option of the Issuer (the Issuer’s election to exercise such option, an “LCT
Election”), the date of determination for availability under any such basket, test or ratio or whether any such action or transaction is permitted (or any requirement or condition therefor is complied with or satisfied (including as to the
absence of any continuing Default or Event of Default)) under this Indenture shall be deemed to be the date (the “LCT Test Date”) either (a) the definitive agreements for such Limited Condition Transaction are entered into (or,
if applicable, the date of delivery of a notice, declaration or making of a Restricted Payment or similar event), or (b) solely in connection with an acquisition to which the United Kingdom City Code on Takeovers and Mergers or similar law or
practices in other jurisdictions apply, the date on which a “Rule 2.7 announcement” of a firm intention to make an offer or similar announcement or determination in another jurisdiction subject to similar laws in respect of a target of a
Limited Condition Transaction and, in each case, if, after giving pro forma effect to the Limited Condition Transaction and any actions or transactions related thereto (including acquisitions, Investments, the incurrence, issuance or assumption of
Indebtedness, Disqualified Stock or Preferred Stock and the use of proceeds thereof, the incurrence or assumption of Liens, repayments, Restricted Payments, the designation of any Restricted Subsidiaries or Unrestricted Subsidiaries, and Asset Sales
or any disposition, issuance or other transaction excluded from the definition of “Asset Sale”) and any related pro forma adjustments (disregarding for the purposes of such pro forma calculation any borrowing under a revolving credit or
letter of credit facility), as if they had occurred at the beginning of the most recent four consecutive fiscal quarters ending prior to the LCT Test Date for which internal consolidated financial statements of the Issuer are available, the Issuer
or any of its Restricted Subsidiaries would have been permitted to take such actions or consummate such transactions on the relevant LCT Test Date in compliance with such ratio, test or basket (and any related requirements and conditions), such
ratio, test or basket (and any related requirements and conditions) shall be deemed to have been complied with (or satisfied) for all purposes (in the case of Indebtedness, for example, whether such Indebtedness is committed, issued or incurred at
the LCT Test Date or at any time thereafter); provided, that (a) if financial statements for one or more subsequent fiscal quarters shall have become available, the Issuer may elect, in its sole discretion, to re-determine all such ratios, tests or baskets on the basis of such financial statements, in which case, such date of redetermination shall thereafter be deemed to be the applicable LCT Test Date for purposes of
such ratios, tests or baskets, (b) except as contemplated in the foregoing clause (a), compliance with such ratios, tests or baskets (and any related requirements and conditions) shall not be determined or tested at any time after the
applicable LCT Test Date for such Limited Condition Transaction and any actions or transactions related thereto (including acquisitions, Investments, the incurrence, issuance or assumption of Indebtedness, Disqualified Stock or Preferred Stock and
the use of proceeds thereof, the incurrence or assumption of Liens, repayments, Restricted Payments, the designation of any Restricted Subsidiaries or Unrestricted Subsidiaries, and Asset Sales or any disposition, issuance or other transaction
excluded from the definition of “Asset Sale”) and (c) Consolidated Interest Expense for purposes of the Fixed Charge Coverage Ratio will be calculated using an assumed interest rate based on the indicative interest margin contained in
any financing commitment documentation with respect to such Indebtedness or, if no such indicative interest margin exists, as reasonably determined by the Issuer in good faith. 

  
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 For the avoidance of doubt, if the Issuer has made an LCT Election, (1) if any of the
ratios, tests or baskets for which compliance was determined or tested as of the LCT Test Date would at any time after the LCT Test Date have been exceeded or otherwise failed to have been complied with as a result of fluctuations in any such
ratio, test or basket, including due to fluctuations in EBITDA or total assets of the Issuer or the Person subject to such Limited Condition Transaction at or prior to the consummation of the relevant transaction or action, such baskets, tests or
ratios will not be deemed to have been exceeded or failed to have been complied with as a result of such fluctuations; provided that if such ratios, tests or baskets improve as a result of such fluctuations, such improved ratios, tests and/or
baskets may be utilized; (2) if any related requirements and conditions (including as to the absence of any continuing Default or Event of Default) for which compliance or satisfaction was determined or tested as of the LCT Test Date would at
any time after the LCT Test Date not have been complied with or satisfied (including due to the occurrence or continuation of a Default or an Event of Default), such requirements and conditions will not be deemed to have been failed to be complied
with or satisfied (and such Default or Event of Default shall be deemed not to have occurred or be continuing); and (3) in calculating the availability under any ratio, test or basket in connection with any action or transaction unrelated to
such Limited Condition Transaction following the relevant LCT Test Date and prior to the earlier of the date on which such Limited Condition Transaction is consummated or the date that the definitive agreement, the date of notice or offer or date
for redemption, purchase or repayment specified in a notice for such Limited Condition Transaction is terminated, expires or passes, as applicable, without consummation of such Limited Condition Transaction, any such ratio, test or basket shall be
determined or tested giving pro forma effect to such Limited Condition Transaction and any actions or transactions related thereto. 
 In
connection with any action being taken in connection with a Limited Condition Transaction, for purposes of determining compliance with any provision of this Indenture which requires that no Default, Event of Default or specified Event of Default, as
applicable, has occurred, is continuing or would result from any such action, as applicable, such condition shall, at the option of the Issuer, be deemed satisfied, so long as no Default, Event of Default or specified Event of Default, as
applicable, exists on the date of the definitive agreement, the date of notice or offer or date for redemption, purchase or repayment for such Limited Condition Transaction, as applicable. For the avoidance of doubt, if the Issuer has exercised an
LCT Election, and any Default, Event of Default or specified Event of Default occurs following the date the definitive agreements (or, if applicable, the date of delivery of a notice, declaration or making of a Restricted Payment or similar event)
for the applicable Limited Condition Transaction were entered into and prior to the consummation of such Limited Condition Transaction, any such Default, Event of Default or specified Event of Default shall be deemed to not have occurred or be
continuing for purposes of determining whether any action being taken in connection with such Limited Condition Transaction is permitted under this Indenture. 

Section 1.07. Certain Compliance Calculations. Notwithstanding anything to the contrary herein, in the event
an item of Indebtedness, Disqualified Stock or Preferred Stock (or any portion thereof) is incurred, assumed or issued, any Lien is incurred or assumed, any Restricted Payment is made or other transaction is undertaken in reliance on a ratio basket
based on the Fixed Charge Coverage Ratio or Consolidated Total Debt Ratio, such ratio(s) shall be calculated with respect to such incurrence, issuance or other transaction without giving effect to amounts being utilized under any other basket (other
than a ratio basket based on the Fixed Charge Coverage Ratio or Consolidated Total Debt Ratio) on the same date. Each item of Indebtedness, Disqualified Stock or Preferred Stock that is incurred, assumed or issued, each Lien incurred and each other
transaction undertaken will be deemed to have been incurred, assumed, issued or taken first, to the extent available, pursuant to the relevant Fixed Charge Coverage Ratio or Consolidated Total Debt Ratio test. For the avoidance of doubt, when
testing the availability under a ratio basket for purposes of making a Restricted Payment, Indebtedness (or any portion thereof) incurred, assumed or issued the proceeds of which are being utilized to make a Restricted Payment utilizing a non-ratio basket shall not be given effect. 
 Notwithstanding anything to the contrary herein, in the
event an item of Indebtedness, Disqualified Stock or Preferred Stock (or any portion thereof) is incurred, assumed or issued, any Lien is incurred or assumed or other transaction is undertaken in reliance on a ratio basket based on the Fixed Charge
Coverage Ratio or Consolidated Total Debt Ratio, such ratio(s) shall be calculated without regard to the incurrence of any Indebtedness under any revolving facility or letter of credit facility (1) immediately prior to or in connection
therewith or (2) used to finance working capital needs of the Issuer and its Restricted Subsidiaries (as reasonably determined by the Issuer). 

If a proposed action, matter, transaction or amount (or a portion thereof) meets the criteria of more than one applicable basket, permission
or threshold under this Indenture, the Issuer shall be entitled to divide or classify or later divide or reclassify (based on circumstances existing on the date of such reclassification) such action, matter, transaction or amount (or a portion
thereof) between such baskets, permission or thresholds as it shall elect from time to time. 

  
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 Any calculation, test or measure that is determined with reference to the Issuer’s
financial statements (including EBITDA, Consolidated Interest Expense, Consolidated Net Income, Consolidated Total Debt Ratio, Fixed Charge Coverage Ratio, Fixed Charges, and clause (C)(1) of Section 4.07(a) hereof) may be determined with
reference to the financial statements of a direct or indirect parent entity of the Issuer instead, so long as such calculation, test or measure would not differ by more than an immaterial amount when using the financial statements of such direct or
indirect parent entity of the Issuer as compared to if such calculation, test or measure were made using the Issuer’s financial statements (as determined in good faith by the Issuer). 

Any ratios, tests or baskets required to be satisfied in order for a specific action to be permitted under this Indenture 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). 
 If the Issuer or any Restricted Subsidiary takes an action which at the time of the taking of such action
would in the good faith determination of the Issuer be permitted under the applicable provisions of this Indenture based on the financial statements available at such time, such action shall be deemed to have been made in compliance with this
Indenture notwithstanding any subsequent adjustments made in good faith to such financial statements affecting Consolidated Net Income, EBITDA or other applicable financial metric. 

ARTICLE 2 
 THE NOTES 

Section 2.01. Form and Dating; Terms. 

(a) General. The Notes and the Trustee’s certificate of authentication shall be substantially in the form of Exhibit A
hereto. The Notes may have notations, legends or endorsements required by law, stock exchange rules or usage. Each Note shall be dated the date of its authentication. The Notes shall be issued in minimum denominations of $2,000 and any integral
multiple of $1,000 in excess thereof. 
 (b) Global Notes. Notes issued in global form shall be substantially in the form of
Exhibit A hereto, including the Global Note Legend thereon and the “Schedule of Exchanges of Interests in the Global Note” attached thereto. Notes issued in definitive form shall be substantially in the form of Exhibit A
hereto, but without the Global Note Legend thereon and without the “Schedule of Exchanges of Interests in the Global Note” attached thereto. Each Global Note shall represent such of the outstanding Notes as shall be specified in the
“Schedule of Exchanges of Interests in the Global Note” attached thereto and each shall provide that it shall represent up to the aggregate principal amount of Notes from time to time endorsed thereon and that the aggregate principal
amount of outstanding Notes represented thereby may from time to time be reduced or increased, as applicable, to reflect exchanges and redemptions. Any endorsement of a Global Note to reflect the amount of any increase or decrease in the aggregate
principal amount of outstanding Notes represented thereby shall be made by the Trustee or the Custodian, at the direction of the Trustee, in accordance with instructions given by the Holder thereof as required by Section 2.06 hereof. 

(c) Temporary Global Notes. Notes offered and sold in reliance on Regulation S shall be issued initially in the form of the Regulation S
Temporary Global Note, which shall be deposited on behalf of the purchasers of the Notes represented thereby with the Trustee, as Custodian for the Depositary and registered in the name of the Depositary or the nominee of the Depositary for the
accounts of designated agents holding on behalf of Euroclear or Clearstream, duly executed by the Issuer and authenticated by the Trustee as hereinafter provided. 

Following the termination of the applicable Restricted Period, the Regulation S Temporary Global Note Legend shall be deemed removed from the
Regulation S Temporary Global Note, following which temporary beneficial interests in the Regulation S Temporary Global Note shall automatically become beneficial interests in the Regulation S Permanent Global Note pursuant to the Applicable
Procedures. 

  
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 The aggregate principal amount of a Regulation S Temporary Global Note and a Regulation S
Permanent Global Note may from time to time be increased or decreased by adjustments made on the records of the Trustee and/or the Paying Agent and the Depositary or their respective nominees, as the case may be, in connection with transfers of
interest as hereinafter provided. 
 (d) Terms. The aggregate principal amount of Notes that may be authenticated and delivered under
this Indenture is unlimited. 
 The terms and provisions contained in the Notes shall constitute, and are hereby expressly made, a part of
this Indenture and the Issuer, the Guarantors, the Agents and the Trustee, by their execution and delivery of this Indenture, or a supplemental indenture to this Indenture, expressly agree to such terms and provisions and to be bound thereby.
However, to the extent any provision of any Note conflicts with the express provisions of this Indenture, the provisions of this Indenture shall govern and be controlling. 

The Notes shall be subject to repurchase by the Issuer pursuant to an Asset Sale Offer or an Advance Offer, as the case may be, as provided in
Section 4.10 hereof or a Change of Control Offer or Alternate Offer as provided in Section 4.14 hereof. The Notes shall not be redeemable, other than as provided in Article 3 hereof. 

Subject to compliance with Section 4.09 hereof, the Issuer may issue Additional Notes from time to time ranking pari passu with
the Initial Notes without notice to or consent of the Holders, and such Additional Notes shall be consolidated with and form a single class with the Initial Notes (except as otherwise provided for herein) and shall have the same terms as to status,
redemption or otherwise as the Initial Notes, except that interest may accrue on the Additional Notes from their date of issuance (or such other date specified by the Issuer); provided, however, that a separate CUSIP or ISIN will be
issued for the Additional Notes, unless the Initial Notes and the Additional Notes are treated as fungible for U.S. federal income tax purposes. Any additional Notes may be issued with the benefit of an indenture supplemental to this Indenture. 

(e) Euroclear and Clearstream Procedures Applicable. The provisions of the “Operating Procedures of the Euroclear System” and
“Terms and Conditions Governing Use of Euroclear” and the “General Terms and Conditions of Clearstream Banking” and “Customer Handbook” of Clearstream shall be applicable to transfers of beneficial interests in the
Regulation S Global Notes that are held by Participants through Euroclear or Clearstream. 
 Section 2.02.
Execution and Authentication. At least one Officer of the Issuer shall execute the Notes on behalf of the Issuer by manual, facsimile or electronic (including “.pdf”) signature. 

If an Officer of the Issuer whose signature is on a Note no longer holds that office at the time the Trustee authenticates the Note, the Note
shall nevertheless be valid. 
 A Note shall not be entitled to any benefit under this Indenture or be valid or obligatory for any purpose
until authenticated substantially in the form of Exhibit A hereto by the manual, facsimile or electronic (including “.pdf”) signature of the Trustee. The signature shall be conclusive evidence that the Note has been duly
authenticated and delivered under this Indenture. 
 On the Issue Date, the Trustee shall, upon receipt of the Issuer’s Order (an
“Authentication Order”), authenticate and deliver the Initial Notes in the aggregate principal amount or amounts specified in such Authentication Order. In addition, at any time, from time to time, the Trustee shall, upon receipt of
an Authentication Order, authenticate and deliver any Additional Notes for an aggregate principal amount specified in such Authentication Order for such Additional Notes issued or increased hereunder. 

The Initial Notes and any Additional Notes shall be resold initially only to (A) QIBs, (B) Persons other than U.S. Persons (as defined in
Regulation S) in reliance on Regulation S and (C) institutional “accredited investors” (as defined in Rules 501(a)(1), (2), (3) and (7) under the Securities Act) who are not QIBs (“IAIs”) in accordance with Rule 501 of
the Securities Act in accordance with the procedures described herein. 

  
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 The Trustee may appoint an authenticating agent (an “Authentication Agent”)
acceptable to the Issuer to authenticate Notes. An authenticating agent may authenticate Notes whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by such agent. An Authentication
Agent has the same rights as an Agent to deal with Holders or an Affiliate of the Issuer. 
 Section 2.03.
Registrars, Transfer Agents and Paying Agents. The Issuer shall maintain (i) one or more registrars with respect to the Notes where the Notes may be presented for registration (each, a “Registrar”), which shall be
U.S. Bank National Association as of the date of this Indenture, (ii) one or more offices or agencies where the Notes may be presented for transfer or for exchange (each, a “Transfer Agent”), which shall be U.S. Bank National
Association as of the date of this Indenture, and (iii) one or more offices or agencies where the Notes may be presented for payment (each, a “Paying Agent”), which shall be U.S. Bank National Association as of the date of this
Indenture. The Registrar shall keep a register of the Notes (“Note Register”), and of their transfer and exchange and keep such Note Register in accordance with the rules and procedures of DTC. The registered Holder of a Note will
be treated as the owner of such Note for all purposes and only registered Holders shall have rights under this Indenture and the Notes. The Issuer may appoint one or more co-registrars, one or more co-transfer agents and one or more additional paying agents. The term “Registrar” includes any co-registrar, the term “Transfer Agent”
includes any co-transfer agent and the term “Paying Agent” includes any additional paying agents. The Issuer may change any Paying Agent, Transfer Agent or Registrar without prior notice to
any Holder. The Issuer shall notify the Trustee in writing of the name and address of any Agent not a party to this Indenture. If the Issuer fails to appoint or maintain another entity as Registrar, Transfer Agent or Paying Agent, the Trustee or an
affiliate of the Trustee shall act as such. The Issuer or any of its Subsidiaries may act as Paying Agent, Transfer Agent or Registrar. 

The Issuer initially appoints The Depository Trust Company, its nominees and successors (“DTC”) to act as Depositary with
respect to the Global Notes. 
 The Issuer initially appoints the Trustee to act as the Registrar for the Notes and the Paying Agent and
Transfer Agent for the Notes and to act as Custodian with respect to the Global Notes. In acting hereunder and in connection with the Notes, the Registrar, Paying Agent, Transfer Agent and Custodian shall act solely as agents of the Issuer, and will
not thereby assume any obligations towards or relationship of agency or trust for or with any Holder of the Notes. 
 If any Notes are
listed on an exchange and the rules of such exchange so require, the Issuer will satisfy any requirement of such exchange as to paying agents, registrars and transfer agents and will comply with any notice requirements required under such exchange
in connection with any change of paying agent, registrar or transfer agent. 
 Section 2.04. Paying Agent to
Hold Money in Trust. The Issuer shall require any Paying Agent with respect to the Notes other than the Trustee to agree in writing that such Paying Agent shall hold in trust for the benefit of Holders of the Notes or the Trustee all money held
by such Paying Agent for the payment of principal and premium, if any, or interest on the Notes, and will notify the Trustee in writing of any default by the Issuer in making any such payment. While any such default continues, the Trustee may
require the Paying Agent with respect to the Notes (other than the Trustee) to pay all money held by it to the Trustee. The Issuer at any time may require the Paying Agent with respect to the Notes (other than the Trustee) to pay all money held by
it to the Trustee. Upon payment over to the Trustee, the Paying Agent with respect to the Notes (if other than the Issuer or a Subsidiary thereof or the Trustee) shall have no further liability for the money. If the Issuer or a Subsidiary thereof
acts as Paying Agent, it shall segregate and hold in a separate trust fund for the benefit of the Holders all money held by it as Paying Agent. Upon any bankruptcy or reorganization proceedings relating to the Issuer, the Trustee shall serve as
Paying Agent for the Notes. 
 Section 2.05. Holder Lists. The Trustee shall preserve in as current a form
as is reasonably practicable the most recent list available to it of the names and addresses of all Holders. If the Trustee is not the Registrar, the Issuer shall furnish to the Trustee at least five Business Days before each Interest Payment Date
and at such other times as the Trustee may request in writing, a list in such form and as of such date as the Trustee may reasonably require of the names and addresses of the Holders. 

  
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 Section 2.06. Transfer and Exchange. 

(a) Transfer and Exchange of Global Notes. Except as otherwise set forth in this Section 2.06, a Global Note may be transferred, in
whole and not in part, only to another nominee of the Depositary or to a successor thereto or a nominee of such successor thereto. A beneficial interest in a Global Note may not be exchanged for a Definitive Note unless, and, if applicable, subject
to the limitation on issuance of Definitive Notes set forth in Section 2.06(d)(ii), (i) the Depositary (x) notifies the Issuer that it is unwilling or unable to continue as Depositary for such Global Note or (y) has ceased to be a
clearing agency registered under the Exchange Act, and, in either case, a successor Depositary is not appointed by the Issuer within 120 days, (ii) the Issuer, at its option, notifies the Trustee in writing that it elects to cause the issuance
of Definitive Notes (although Regulation S Temporary Global Notes may not be exchanged for Definitive Notes prior to (A) the expiration of the applicable Restricted Period and (B) the receipt by the Registrar of any certification of
beneficial ownership required pursuant to Rule 903(b)(3)(ii)(B)), (iii) upon the request of a Holder if there shall have occurred and be continuing an Event of Default with respect to the Notes, or (iv) the Trustee has received a written
request by or on behalf of the Depositary to issue Definitive Notes. Upon the occurrence of any of the events described in clause (i), (ii), (iii) or (iv) above, Definitive Notes delivered in exchange for any Global Note or beneficial interests
therein will be registered in the names, and issued in any approved denominations, requested by or on behalf of the Depositary (in accordance with its customary procedures). Global Notes also may be exchanged or replaced, in whole or in part, as
provided in Sections 2.07 and 2.10 hereof. Every Note authenticated and delivered in exchange for, or in lieu of, a Global Note or any portion thereof, pursuant to this Section 2.06 or Sections 2.07 or 2.10 hereof, shall be authenticated and
delivered in the form of, and shall be, a Global Note, except for Definitive Notes issued subsequent to any of the events described in clause (i), (ii), (iii) or (iv) above and pursuant to Section 2.06(d) hereof. A Global Note may not be
exchanged for another Note other than as provided in this Section 2.06(a); provided, however, beneficial interests in a Global Note may be transferred and exchanged as provided in Section 2.06(c), (d) or (g) hereof. 

(b) [Reserved]. 
 (c)
Transfer and Exchange of Beneficial Interests in the Global Notes. The transfer and exchange of beneficial interests in the Global Notes shall be effected through the Depositary in accordance with the provisions of this Indenture and the
Applicable Procedures. Beneficial interests in the Restricted Global Notes shall be subject to restrictions on transfer comparable to those set forth herein to the extent required by the Securities Act. Transfers of beneficial interests in the
Global Notes also shall require compliance with either subparagraph (i), (ii), (iii) or (iv) below, as applicable, as well as one or more of the other following subparagraphs, as applicable: 

(i) Transfer of Beneficial Interests in the Same Global Note. Beneficial interests in any Restricted Global Note may be
transferred to Persons who take delivery thereof in the form of a beneficial interest in the same Restricted Global Note in accordance with the transfer restrictions set forth in the applicable Private Placement Legend; provided that prior to
the expiration of the Restricted Period, transfers of beneficial interests in the Regulation S Temporary Global Note may not be made to a U.S. Person or for the account or benefit of a U.S. Person other than pursuant to Rule 144A. Beneficial
interests in any Unrestricted Global Note may be transferred to Persons who take delivery thereof in the form of a beneficial interest in a Unrestricted Global Note. No written orders or instructions shall be required to be delivered to the
Registrar to effect the transfers described in this Section 2.06(c)(i). 
 (ii) All Other Transfers and Exchanges of
Beneficial Interests in Global Notes. In connection with all transfers and exchanges of beneficial interests that are not subject to Section 2.06(c)(i) hereof, the transferor of such beneficial interest must deliver to the Registrar either
(A) (1) a written order from a Participant or an Indirect Participant given to the Depositary in accordance with the Applicable Procedures directing the Depositary to credit or cause to be credited a beneficial interest in another Global Note
in an amount equal to the beneficial interest to be transferred or exchanged and (2) instructions given in accordance with the Applicable Procedures containing information regarding the Participant account to be credited with such increase or
(B) (1) a written order from a Participant or an Indirect Participant given to the Depositary in accordance with the Applicable Procedures directing the Depositary to cause to be issued a Definitive Note in an amount equal to the beneficial
interest to be transferred or exchanged and (2) instructions given by the Depositary to the Registrar containing information regarding the Person in whose name such Definitive Note shall be registered to effect the transfer or exchange referred
to in (1) above; provided 

  
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that in no event shall Definitive Notes be issued upon the transfer or exchange of beneficial interests in a Regulation S Temporary Global Note prior to (x) the expiration of the applicable
Restricted Period therefor and (y) the receipt by the Registrar of any certification of beneficial ownership required pursuant to Rule 903(b)(3)(ii)(B). Upon satisfaction of all of the requirements for transfer or exchange of beneficial
interests in Global Notes contained in this Indenture and the Notes or otherwise applicable under the Securities Act, the Trustee shall adjust the principal amount of the relevant Global Note(s) pursuant to Section 2.06(i) hereof. 

(iii) Transfer of Beneficial Interests to Another Restricted Global Note. A beneficial interest in any Restricted Global
Note may be transferred to a Person who takes delivery thereof in the form of a beneficial interest in another Restricted Global Note if the transfer complies with the requirements of Section 2.06(c)(ii) hereof, as applicable, and the Registrar
receives the following: 
 (A) if the transferee will take delivery in the form of a beneficial interest in a 144A Global
Note, then the transferor must deliver a certificate in the form of Exhibit B including the certifications in item (1) thereof; 

(B) if the transferee will take delivery in the form of a beneficial interest in a Regulation S Global Note, then the
transferor must deliver a certificate in the form of Exhibit B including the certifications in item (2) thereof; or 

(C) if the transferee will take delivery in the form of a beneficial interest in an IAI Global Note, then the transferor must
deliver a certificate in the form of Exhibit B including the certifications required by item (3) thereof. 
 (iv)
Transfer and Exchange of Beneficial Interests in a Restricted Global Note for Beneficial Interests in an Unrestricted Global Note. A beneficial interest in any Restricted Global Note may be exchanged by any holder thereof for a beneficial
interest in an Unrestricted Global Note or transferred to a Person who takes delivery thereof in the form of a beneficial interest in an Unrestricted Global Note if the exchange or transfer complies with the requirements of Section 2.06(c)(ii)
hereof, and: 
 (A) such Notes are sold or exchanged pursuant to an effective registration statement under the Securities
Act; or 
 (B) the Registrar receives the following: 

(1) if the holder of such beneficial interest in a Restricted Global Note proposes to exchange such beneficial interest for a
beneficial interest in an Unrestricted Global Note, a certificate from such Holder substantially in the form of Exhibit C including the certifications in item (1)(a) thereof; or 

(2) if the holder of such beneficial interest in a Restricted Global Note proposes to transfer such beneficial interest to a
Person who shall take delivery thereof in the form of a beneficial interest in an Unrestricted Global Note, a certificate from such holder in the form of Exhibit B including the certifications in item (4) thereof; 

and, in each such case set forth in this clause (B), if the Issuer so requests or if the Applicable Procedures so require, an Opinion of
Counsel in form reasonably acceptable to the Issuer to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Private Placement Legend are no longer
required in order to maintain compliance with the Securities Act. 
 If any such transfer is effected pursuant to clause (A) or (B)
above at a time when an Unrestricted Global Note has not yet been issued, the Issuer shall issue and, upon receipt of an Authentication Order in accordance with Section 2.02 hereof, the Trustee shall authenticate one or more Unrestricted Global
Notes in an aggregate principal amount equal to the aggregate principal amount of beneficial interests transferred pursuant to clause (A) or (B) above. 

  
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 Beneficial interests in an Unrestricted Global Note cannot be exchanged for, or transferred
to Persons who take delivery thereof in the form of, a beneficial interest in a Restricted Global Note. 
 (d) Transfer or Exchange of
Beneficial Interests for Definitive Notes. 
 (i) Beneficial Interests in Restricted Global Notes to Restricted Definitive Notes.
If any holder of a beneficial interest in a Restricted Global Note proposes to exchange such beneficial interest for a Restricted Definitive Note or to transfer such beneficial interest to a Person who takes delivery thereof in the form of a
Restricted Definitive Note, then, in the case of the Restricted Definitive Notes, upon the occurrence of any of the events described in clause (i), (ii), (iii) or (iv) of Section 2.06(a) hereof and receipt by the Registrar of the following
documentation: 
 (A) if the holder of such beneficial interest in a Restricted Global Note proposes to exchange such
beneficial interest for a Restricted Definitive Note, a certificate from such holder substantially in the form of Exhibit C including the certifications in item (2)(a) thereof; 

(B) if such beneficial interest is being transferred to a QIB in accordance with Rule 144A, a certificate substantially in the
form of Exhibit B including the certifications in item (1) thereof; 
 (C) if such beneficial interest is being
transferred to a Non-U.S. Person in an offshore transaction in accordance with Rule 903 or Rule 904, a certificate substantially in the form of Exhibit B including the certifications in item
(2) thereof; 
 (D) if such beneficial interest is being transferred pursuant to an exemption from the registration
requirements of the Securities Act in accordance with Rule 144, a certificate substantially in the form of Exhibit B including the certifications in item (3)(a) thereof; 

(E) if such beneficial interest is being transferred to the Issuer or any of its Subsidiaries, a certificate substantially in
the form of Exhibit B including the certifications in item (3)(b) thereof; 
 (F) if such beneficial interest is being
transferred pursuant to an effective registration statement under the Securities Act, a certificate substantially in the form of Exhibit B including the certifications in item (3)(c) thereof; or 

(G) if such beneficial interest is being transferred to an IAI pursuant to an exemption from the registration requirements of
the Securities Act other than those listed in subparagraphs (B) through (D) above, a certificate substantially in the form of Exhibit B including the certifications in item (3)(d) thereof, 

the Trustee shall cause the aggregate principal amount of the applicable Global Note to be reduced accordingly pursuant to Section 2.06(i) hereof, and
the Issuer shall execute and, upon receipt of an Authentication Order, the Trustee shall authenticate and send to the Person designated in the instructions a Definitive Note in the applicable principal amount. Any Definitive Note issued in exchange
for a beneficial interest in a Restricted Global Note pursuant to this Section 2.06(c) shall be registered in such name or names and in such authorized denomination or denominations as the holder of such beneficial interest shall instruct the
Registrar through instructions from the Depositary and the Participant or Indirect Participant. The Trustee shall send such Definitive Notes to the Persons in whose names such Notes are so registered. Any Definitive Note issued in exchange for a
beneficial interest in a Restricted Global Note pursuant to this Section 2.06(d)(i) (except transfers pursuant to clause (F) above) shall bear the Private Placement Legend and shall be subject to all restrictions on transfer contained
therein. 
 (ii) Beneficial Interests in Regulation S Temporary Global Note to Definitive Notes. Notwithstanding Sections
2.06(d)(i)(A) and (C) hereof, a beneficial interest in the Regulation S Temporary Global Note may not be exchanged for a Definitive Note or transferred to a Person who takes delivery thereof in the form of a Definitive

  
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 Note prior to (A) the expiration of the applicable Restricted Period therefor and (B) the receipt
by the Registrar of any certifications of beneficial ownership required pursuant to Rule 903(b)(3)(ii)(B) of the Securities Act, except in the case of a transfer pursuant to an exemption from the registration requirements of the Securities Act other
than Rule 903 or Rule 904. 
 (iii) Beneficial Interests in Restricted Global Notes to Unrestricted Definitive Notes. A holder of a
beneficial interest in a Restricted Global Note may exchange such beneficial interest for an Unrestricted Definitive Note or may transfer such beneficial interest to a Person who takes delivery thereof in the form of an Unrestricted Definitive Note
only upon the occurrence of any of the events described in clause (i), (ii), (iii) or (iv) of Section 2.06(a) hereof and if the Registrar receives the following: 

(A) if the holder of such beneficial interest in a Restricted Global Note proposes to exchange such beneficial interest for an
Unrestricted Definitive Note, a certificate from such holder substantially in the form of Exhibit C including the certifications in item (1)(b) thereof; or 

(B) if the holder of such beneficial interest in a Restricted Global Note proposes to transfer such beneficial interest to a
Person who shall take delivery thereof in the form of an Unrestricted Definitive Note, a certificate from such holder substantially in the form of Exhibit B including the certifications in item (4) thereof; 

and, in each such case set forth in this subclause (iii), if the Issuer so requests or if the Applicable Procedures so require, an Opinion of Counsel in form
reasonably acceptable to the Issuer to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Private Placement Legend are no longer required in order to
maintain compliance with the Securities Act. 
 (iv) Beneficial Interests in Unrestricted Global Notes to Unrestricted Definitive
Notes. If any holder of a beneficial interest in an Unrestricted Global Note proposes to exchange such beneficial interest for a Definitive Note or to transfer such beneficial interest to a Person who takes delivery thereof in the form of a
Definitive Note, then, upon the occurrence of any of the events described in clause (i), (ii), (iii) or (iv) of Section 2.06(a) hereof and satisfaction of the conditions set forth in Section 2.06(c)(v) hereof, the Trustee shall cause
the aggregate principal amount of the applicable Global Note to be reduced accordingly pursuant to Section 2.06(i) hereof, and the Issuer shall execute and, upon receipt of an Authentication Order, the Trustee shall authenticate and send to the
Person designated in the instructions a Definitive Note in the applicable principal amount. Any Definitive Note issued in exchange for a beneficial interest pursuant to this Section 2.06(d)(iv) shall be registered in such name or names and in
such authorized denomination or denominations as the holder of such beneficial interest shall instruct the Registrar through instructions from or through the Depositary and the Participant or Indirect Participant. The Trustee shall send such
Definitive Notes to the Persons in whose names such Notes are so registered. Any Definitive Note issued in exchange for a beneficial interest pursuant to this Section 2.06(d)(iv) shall not bear the Private Placement Legend. 

(e) Transfer and Exchange of Definitive Notes for Beneficial Interests. 

(i) Restricted Definitive Notes to Beneficial Interests in Restricted Global Notes. If any Holder of a Restricted Definitive Note
proposes to exchange such Note for a beneficial interest in a Restricted Global Note or to transfer such Restricted Definitive Note to a Person who takes delivery thereof in the form of a beneficial interest in a Restricted Global Note, then, upon
receipt by the Registrar of the following documentation: 
 (A) if the Holder of such Restricted Definitive Note proposes to
exchange such Note for a beneficial interest in a Restricted Global Note, a certificate from such Holder substantially in the form of Exhibit C including the certifications in item (2)(b) thereof; 

(B) if such Restricted Definitive Note is being transferred to a QIB in accordance with Rule 144A, a certificate substantially
in the form of Exhibit B including the certifications in item (1) thereof; 

  
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 (C) if such Restricted Definitive Note is being transferred to a Non-U.S. Person in an offshore transaction in accordance with Rule 903 or Rule 904, a certificate substantially in the form of Exhibit B including the certifications in item (2) thereof; 

(D) if such Restricted Definitive Note is being transferred pursuant to an exemption from the registration requirements of the
Securities Act in accordance with Rule 144, a certificate substantially in the form of Exhibit B including the certifications in item (3)(a) thereof; 

(E) if such Restricted Definitive Note is being transferred to the Issuer or any of its Subsidiaries, a certificate
substantially in the form of Exhibit B including the certifications in item (3)(b) thereof; 
 (F) if such Restricted
Definitive Note is being transferred pursuant to an effective registration statement under the Securities Act, a certificate substantially in the form of Exhibit B including the certifications in item (3)(c) thereof; or 

(G) if such Restricted Definitive Note is being transferred to an IAI pursuant to an exemption from the registration
requirements of the Securities Act other than those listed in subparagraphs (B) through (D) above, a certificate substantially in the form of Exhibit B including the certifications in item (3)(d) thereof, 

the Trustee shall cancel the Restricted Definitive Note and increase or cause to be increased the aggregate principal amount of, in the case of clause
(A) above, the applicable Restricted Global Note, in the case of clause (B) above, the applicable 144A Global Note, in the case of clause (C) above, the applicable Regulation S Global Note, and in the case of clause (G) above,
the applicable IAI Global Note. 
 (ii) Restricted Definitive Notes to Beneficial Interests in Unrestricted Global Notes. A Holder of
a Restricted Definitive Note may exchange such Note for a beneficial interest in an Unrestricted Global Note or transfer such Restricted Definitive Note to a Person who takes delivery thereof in the form of a beneficial interest in an Unrestricted
Global Note only if the Registrar receives the following: 
 (A) if the Holder of such Definitive Notes proposes to exchange
such Notes for a beneficial interest in the Unrestricted Global Note, a certificate from such Holder substantially in the form of Exhibit C including the certifications in item (1)(c) thereof; or 

(B) if the Holder of such Definitive Notes proposes to transfer such Notes to a Person who shall take delivery thereof in the
form of a beneficial interest in the Unrestricted Global Note, a certificate from such Holder substantially in the form of Exhibit B including the certifications in item (4) thereof; 

and, in each such case set forth in this subclause (ii), if the Issuer so requests or if the Applicable Procedures so require, an Opinion of
Counsel in form reasonably acceptable to the Issuer to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Private Placement Legend are no longer
required in order to maintain compliance with the Securities Act. 
 Upon satisfaction of the applicable conditions of this
Section 2.06(e)(ii), the Trustee shall cancel the Restricted Definitive Note and increase or cause to be increased the aggregate principal amount of the Unrestricted Global Note. 

(iii) Unrestricted Definitive Notes to Beneficial Interests in Unrestricted Global Notes. A Holder of an Unrestricted Definitive Note
may exchange such Note for a beneficial interest in an Unrestricted Global Note or transfer such Definitive Notes to a Person who takes delivery thereof in the form of a beneficial interest in an Unrestricted Global Note at any time. Upon receipt of
a request for such an exchange or transfer, the Trustee shall cancel the applicable Unrestricted Definitive Note and increase or cause to be increased the aggregate principal amount of one of the Unrestricted Global Notes of the same Series of
Notes. 

  
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 If any such exchange or transfer from a Definitive Note to a beneficial interest is effected
pursuant to Section 2.06(e)(ii) or (iii) above at a time when an Unrestricted Global Note has not yet been issued, the Issuer shall issue and, upon receipt of an Authentication Order in accordance with Section 2.02 hereof, the Trustee
shall authenticate one or more Unrestricted Global Notes in an aggregate principal amount equal to the principal amount of Definitive Notes so transferred. 

(f) Transfer and Exchange of Definitive Notes for Definitive Notes. Upon request by a Holder of Definitive Notes and such Holder’s
compliance with the provisions of this Section 2.06(f), the Registrar shall register the transfer or exchange of Definitive Notes. Prior to such registration of transfer or exchange, the requesting Holder shall present or surrender to the
Registrar the Definitive Notes duly endorsed or accompanied by a written instruction of transfer or exchange in form satisfactory to the Registrar duly executed by such Holder or by its attorney, duly authorized in writing. In addition, the
requesting Holder shall provide any additional certifications, documents and information, as applicable, required pursuant to the following provisions of this Section 2.06(f): 

(i) Restricted Definitive Notes to Restricted Definitive Notes. Any Restricted Definitive Note may be transferred to and
registered in the name of Persons who take delivery thereof in the form of a Restricted Definitive Note if the Registrar receives the following: 

(A) if the transfer will be made to a QIB in accordance with Rule 144A, then the transferor must deliver a certificate
substantially in the form of Exhibit B including the certifications in item (1) thereof; 
 (B) if the transfer
will be made pursuant to Rule 903 or Rule 904, then the transferor must deliver a certificate in the form of Exhibit B including the certifications in item (2) thereof; or 

(C) if the transfer will be made pursuant to any other exemption from the registration requirements of the Securities Act, then
the transferor must deliver a certificate in the form of Exhibit B including the certifications required by item (3) thereof, if applicable. 

(ii) Restricted Definitive Notes to Unrestricted Definitive Notes. Any Restricted Definitive Note may be exchanged by
the Holder thereof for an Unrestricted Definitive Note or transferred to a Person or Persons who take delivery thereof in the form of an Unrestricted Definitive Note if the Registrar receives the following: 

(A) if the Holder of such Restricted Definitive Notes proposes to exchange such Notes for an Unrestricted Definitive Note, a
certificate from such Holder substantially in the form of Exhibit C including the certifications in item (1)(d) thereof; or 

(B) if the Holder of such Restricted Definitive Notes proposes to transfer such Notes to a Person who shall take delivery
thereof in the form of an Unrestricted Definitive Note, a certificate from such Holder substantially in the form of Exhibit B, including the certifications in item (4) thereof; 

and, in each such case set forth in this subclause (ii), if the Issuer so requests, an Opinion of Counsel in form reasonably acceptable to the
Issuer to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Private Placement Legend are no longer required in order to maintain compliance with the
Securities Act. 
 (iii) Unrestricted Definitive Notes to Unrestricted Definitive Notes. A Holder of Unrestricted
Definitive Notes may transfer such Notes to a Person who takes delivery thereof in the form of an Unrestricted Definitive Note. Upon receipt of a request to register such a transfer, the Registrar shall register the Unrestricted Definitive Notes
pursuant to the instructions from the Holder thereof. 
 (g) [Reserved]. 

  
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 (h) Legends. The following legends shall appear on the face of all Global Notes and
Definitive Notes issued under this Indenture unless specifically stated otherwise in the applicable provisions of this Indenture: 

(i) Private Placement Legend. 

(A) Except as permitted by subparagraph (B) below, each Global Note and each Definitive Note (and all Notes issued in
exchange therefor or substitution thereof) shall bear the legend in substantially the following form: 
 “THE NOTES HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE SECURITIES LAWS. NEITHER THIS NOTE NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR
OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, REGISTRATION AS SET FORTH BELOW. BY ITS ACQUISITION HEREOF, THE HOLDER (1) REPRESENTS THAT (A) IT IS A “QUALIFIED
INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”)), (B) IT IS NOT A U.S. PERSON AND IS ACQUIRING THIS NOTE IN AN OFFSHORE TRANSACTION IN COMPLIANCE WITH REGULATION S UNDER THE SECURITIES ACT
(“REGULATION S”) OR (C) IT IS AN INSTITUTIONAL “ACCREDITED INVESTOR” WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) UNDER THE SECURITIES ACT THAT IS NOT A QUALIFIED INSTITUTIONAL BUYER AND THAT IS PURCHASING FOR
ITS OWN ACCOUNT OR FOR THE ACCOUNT OF ANOTHER INSTITUTIONAL ACCREDITED INVESTOR, (2) AGREES TO OFFER, SELL, PLEDGE OR OTHERWISE TRANSFER SUCH NOTE PRIOR TO THE EXPIRATION OF THE HOLDING PERIOD THEN IMPOSED BY RULE 144 UNDER THE SECURITIES ACT
(OR ANY SUCCESSOR PROVISION) ONLY (A) TO THE ISSUER, (B) PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (C) FOR SO LONG AS THE NOTES ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A TO A
PERSON IT REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A,
(D) OUTSIDE THE UNITED STATES PURSUANT TO OFFERS AND SALES TO NON-U.S. PERSONS IN AN OFFSHORE TRANSACTION PURSUANT TO REGULATION S IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 903 OR RULE 904 UNDER
THE SECURITIES ACT, (E) TO AN INSTITUTIONAL “ACCREDITED INVESTOR” WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) UNDER THE SECURITIES ACT THAT IS NOT A QUALIFIED INSTITUTIONAL BUYER AND THAT IS PURCHASING FOR ITS OWN
ACCOUNT OR FOR THE ACCOUNT OF ANOTHER INSTITUTIONAL ACCREDITED INVESTOR OR (F) PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO THE ISSUER’S OR THE TRUSTEE’S RIGHT PRIOR TO
ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO CLAUSE (D), (E) OR (F) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER INFORMATION SATISFACTORY TO EACH OF THEM.” 

Except as permitted by subparagraph (B) below, each Global Note and Definitive Note issued in a transaction exempt from
registration pursuant to Regulation S shall also bear the legend in substantially the following form: 

  
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 “THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933,
AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, NEITHER THIS SECURITY NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED WITHIN THE UNITED STATES (AS DEFINED IN REGULATION S) OR TO, OR FOR
THE ACCOUNT OR BENEFIT OF, A U.S. PERSON (AS DEFINED IN REGULATION S), EXCEPT IN COMPLIANCE WITH RULE 144A (“RULE 144A”) UNDER THE SECURITIES ACT (SO LONG AS THIS SECURITY IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A) TO A PERSON THE
HOLDER HEREOF REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A) (A “QIB”) THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF ANOTHER QIB, IN EACH CASE TO WHOM NOTICE IS GIVEN THAT THE
TRANSFER IS BEING MADE IN RELIANCE UPON RULE 144A, AND UPON DELIVERY OF THE CERTIFICATIONS REQUIRED BY THE INDENTURE REFERRED TO HEREIN.” 

(B) Notwithstanding the foregoing, any Global Note or Definitive Note issued pursuant to subparagraph (c)(iv), (d)(iii),
(d)(iv), (e)(ii), (e)(iii), (f)(ii) or (f)(iii) of this Section 2.06 (and all Notes issued in exchange therefor or substitution thereof) shall not bear the Private Placement Legend. 

(ii) Global Note Legend. Each Global Note shall bear a legend in substantially the following form (with appropriate
changes in the last sentence of the first paragraph if DTC is not the Depositary): 
 “THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS
DEFINED IN THE INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (I) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS
MAY BE REQUIRED PURSUANT TO SECTION 2.06(i) OF THE INDENTURE, (II) THIS GLOBAL NOTE MAY BE EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.06(a) OF THE INDENTURE, (III) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR
CANCELLATION PURSUANT TO SECTION 2.11 OF THE INDENTURE AND (IV) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE ISSUER. UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN
DEFINITIVE FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO
A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) (“DTC”) TO THE ISSUER OR ITS AGENT
FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE &
CO. OR SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN. 

  
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 BY ITS ACQUISITION OF THIS SECURITY, THE HOLDER THEREOF WILL BE DEEMED TO HAVE REPRESENTED
AND WARRANTED THAT EITHER (1) NO PORTION OF THE ASSETS USED BY SUCH HOLDER TO ACQUIRE OR HOLD THIS SECURITY CONSTITUTES THE ASSETS OF AN EMPLOYEE BENEFIT PLAN THAT IS SUBJECT TO TITLE I OF THE U.S. EMPLOYEE RETIREMENT INCOME SECURITY ACT OF
1974, AS AMENDED (“ERISA”), OF A PLAN, INDIVIDUAL RETIREMENT ACCOUNT OR OTHER ARRANGEMENT THAT IS SUBJECT TO SECTION 4975 OF THE U.S. INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”) OR PROVISIONS UNDER ANY OTHER FEDERAL,
STATE, LOCAL, NON-U.S. OR OTHER LAWS OR REGULATIONS THAT ARE SIMILAR TO SUCH PROVISIONS OF ERISA OR THE CODE (“SIMILAR LAWS”), OR OF AN ENTITY WHOSE UNDERLYING ASSETS ARE CONSIDERED TO INCLUDE
“PLAN ASSETS” OF ANY SUCH PLAN, ACCOUNT OR ARRANGEMENT, OR (2) THE ACQUISITION AND HOLDING OF THIS SECURITY WILL NOT CONSTITUTE A NON-EXEMPT PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA OR
SECTION 4975 OF THE CODE OR A SIMILAR VIOLATION UNDER ANY APPLICABLE SIMILAR LAWS.” 
 (iii) Regulation S Temporary
Global Note Legend. The Regulation S Temporary Global Note shall bear a legend in substantially the following form: 
 “THE RIGHTS
ATTACHING TO THIS REGULATION S TEMPORARY GLOBAL NOTE, AND THE CONDITIONS AND PROCEDURES GOVERNING ITS EXCHANGE FOR CERTIFICATED NOTES, ARE AS SPECIFIED IN THE INDENTURE (AS DEFINED HEREIN).” 

(i) Cancellation and/or Adjustment of Global Notes. At such time as all beneficial interests in a particular Global Note have been
exchanged for Definitive Notes or a particular Global Note has been redeemed, repurchased or cancelled in whole and not in part, each such Global Note shall be returned to or retained and cancelled by the Trustee in accordance with Section 2.11
hereof. At any time prior to such cancellation, if any beneficial interest in a Global Note is exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global Note or for Definitive
Notes, the principal amount of Notes represented by such Global Note shall be reduced accordingly and an endorsement shall be made on such Global Note by the Trustee, or by the Depositary at the direction of the Trustee, to reflect such reduction;
and if the beneficial interest is being exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global Note, such other Global Note shall be increased accordingly and an endorsement
shall be made on such Global Note by the Trustee, or by the Depositary at the direction of the Trustee, to reflect such increase. 
 (j)
General Provisions Relating to Transfers and Exchanges. 
 (i) To permit registrations of transfers and exchanges, the Issuer shall
execute and the Trustee shall authenticate Global Notes and Definitive Notes upon receipt of an Authentication Order in accordance with Section 2.02 hereof or at the Registrar’s request. 

(ii) No service charge shall be made to a holder of a beneficial interest in a Global Note or to a Holder of a Definitive Note for any
registration of transfer or exchange, but the Issuer may require payment of a sum sufficient to cover any transfer tax or similar governmental charge payable in connection therewith (other than any such transfer taxes or similar governmental charge
payable upon exchange or transfer pursuant to Sections 2.07, 2.10, 3.06, 3.08, 4.10, 4.14 and 9.04 hereof). 
 (iii) Neither the Registrar
nor the Issuer shall be required (A) to issue, to register the transfer of or to exchange any Notes during a period beginning at the opening of business 15 days before the delivery of a notice of redemption of the Notes to be redeemed under
Section 3.03 hereof and ending at the close of business on the day such notice of redemption is sent, (B) to register the transfer of or to exchange any Note so selected for redemption in whole or in part, except the unredeemed portion of
any Note being redeemed in part, (C) to register the transfer or exchange of a Note between a Record Date and the next succeeding Interest Payment Date or (D) to register the transfer or exchange of any Notes tendered (and not withdrawn)
for repurchase in connection with a Change of Control Offer, Alternate Offer, an Asset Sale Offer or an Advance Offer. 
 (iv) Neither the
Registrar nor the Issuer shall be required to register the transfer or exchange of any Note selected for redemption in whole or in part, except the unredeemed portion of any Note being redeemed in part; provided that new Notes will only be
issued in minimum denominations of $2,000 and in integral multiples of $1,000 in excess thereof. 

  
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 (v) All Global Notes and Definitive Notes issued upon any registration of transfer or
exchange of Global Notes or Definitive Notes shall be the valid obligations of the Issuer, evidencing the same debt, and entitled to the same benefits under this Indenture, as the Global Notes or Definitive Notes surrendered upon such registration
of transfer or exchange. 
 (vi) Prior to due presentment for the registration of a transfer of any Note, the Trustee, any Agent and the
Issuer shall deem and treat the Person in whose name any Note is registered as the absolute owner of such Note for the purpose of receiving payment of principal of (and premium, if any) and interest on such Notes and for all other purposes, and none
of the Trustee, any Agent or the Issuer shall be affected by notice to the contrary. 
 (vii) Upon surrender for registration of transfer of
any Note at the office or agency of the Issuer designated pursuant to Section 4.02 hereof, the Issuer shall execute, and the Trustee shall authenticate and deliver, in the name of the designated transferee or transferees, one or more
replacement Notes of any authorized denomination or denominations of a like aggregate principal amount. 
 (viii) At the option of the
Holder, subject to Section 2.06(a) hereof, Notes may be exchanged for other Notes of any authorized denomination or denominations of a like aggregate principal amount upon surrender of the Notes to be exchanged at such office or agency.
Whenever any Global Notes or Definitive Notes are so surrendered for exchange, the Issuer shall execute, and the Trustee shall authenticate and deliver, the replacement Global Notes and Definitive Notes which the Holder making the exchange is
entitled to in accordance with the provisions of Section 2.02 hereof. 
 (ix) All certifications, certificates and Opinions of Counsel
required to be submitted pursuant to this Section 2.06 to effect a registration of transfer or exchange may be submitted by facsimile. 

(x) None of the Issuer, the Trustee or the Agents shall have any responsibility or obligation to any beneficial owner in a Global Note, a
Participant, an Indirect Participant or other Person with respect to the accuracy of the records of the Depositary or its nominee or of any Participant, with respect to any ownership interest in the Notes or with respect to the delivery to any
Participant, Indirect Participant, beneficial owner or other Person (other than the Depositary) of any notice (including any notice of redemption) or the payment of any amount, under or with respect to such Notes. All notices and communications to
be given to the Holders and all payments to be made to Holders under the Notes and this Indenture shall be given or made only to or upon the order of the registered holders (which shall be the Depositary or its nominee). The rights of beneficial
owners in a Global Note shall be exercised only through the Depositary, subject to the Applicable Procedures. The Issuer, the Trustee and the Agents shall be entitled to rely and shall be fully protected in relying upon information furnished by the
Depositary with respect to their respective members, participants and any beneficial owners. The Issuer, the Trustee and the Agents shall be entitled to deal with the Depositary, and any nominee thereof, that is the registered holder of any Global
Note for all purposes of this Indenture relating to such Global Note (including the payment of principal, premium, if any, and interest, and the giving of instructions or directions by or to the owner or holder of a beneficial ownership interest in
such Global Note) as the sole holder of such Global Note and shall have no obligations to the beneficial owners thereof. None of the Issuer, Trustee or Agents shall have any responsibility or liability for any acts or omissions of the Depositary
with respect to such Global Note, for the records of any such depositary, including records in respect of beneficial ownership interests in respect of any such Global Note, for any transactions between the Depositary and any Participant or between
or among the Depositary, any such Participant and/or any holder or owner of a beneficial interest in such Global Note, or for any transfers of beneficial interests in any such Global Note. All notices and communications to be given to the Holders of
the Notes and all payments to be made to Holders under the Notes shall be given or made only to the registered Holders of the Notes. The rights of beneficial owners in any Global Note shall be exercised only through the applicable Depositary subject
to the applicable rules and procedures of such Depositary. The Trustee may rely and shall be fully protected in relying upon information furnished by the Depositary with respect to its members, participants and any beneficial owners. 

  
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 (xi) Notwithstanding the foregoing, with respect to any Global Note, nothing herein shall
prevent the Issuer, the Trustee, or any agent of the Issuer or the Trustee from giving effect to any written certification, proxy or other authorization furnished by the Depositary in the case of Global Notes (or its nominee), as a Holder, with
respect to such Global Note or shall impair, as between such Depositary and owners of beneficial interests in such Global Note, the operation of customary practices governing the exercise of the rights of such Depositary (or its nominee) as Holder
of such Global Note. 
 (xii) None of the Trustee, the Registrar or the Transfer Agent shall have any duty to monitor the Issuer’s
compliance with or have any responsibility with respect to the Issuer’s compliance with any federal or state securities laws in connection with registrations of transfers and exchanges of the Notes. The Trustee, the Registrar and the Transfer
Agent shall have no obligation or duty to monitor, determine or inquire as to compliance with any restrictions on transfer imposed under this Indenture or under applicable law with respect to any transfer of any interest in any Notes (including any
transfers between or among the Depositary’s Participants or beneficial owners of interests in any Global Note) other than to require delivery of such certificates and other documentation, as is expressly required by, and to do so if and when
expressly required by, the terms of this Indenture or the Notes and to examine the same to determine substantial compliance as to form with the express requirements hereof. 

(xiii) The Issuer, the Trustee, the Registrar and the Transfer Agent reserve the right to require the delivery by any Holder or purchaser of a
Note of such legal opinions, certifications or other evidence as may reasonably be required in order to determine that the proposed transfer of any Restricted Global Note or Restricted Definitive Note is being made in compliance with the Securities
Act or the Exchange Act, or rules or regulations adopted by the SEC from time to time thereunder, and applicable state securities laws. 

Section 2.07. Replacement Notes. If either (x) any mutilated Note is surrendered to the Trustee, the
Registrar or the Issuer, or (y) the Issuer and the Trustee receive evidence to their satisfaction of the ownership and destruction, loss or theft of any Note, then the Issuer shall issue and the Trustee, upon receipt of an Authentication Order
and satisfaction of any other requirements of the Trustee, shall authenticate a replacement Note. If required by the Trustee or the Issuer, an indemnity bond must be supplied by the Holder that is sufficient in the judgment of both (i) the
Trustee to protect the Trustee and (ii) the Issuer to protect the Issuer, the Trustee, any Agent and any Authentication Agent from any loss that any of them may suffer if a Note is replaced. The Issuer and the Trustee may charge the Holder for
their expenses in replacing a Note. 
 Every replacement Note is a contractual obligation of the Issuer and shall be entitled to all of the
benefits of this Indenture equally and proportionately with all other Notes duly issued hereunder. 
 Section 2.08.
Outstanding Notes. The Notes outstanding at any time are all the Notes authenticated by the Trustee except for those cancelled by it, those delivered to it for cancellation, those reductions in the interest in a Global Note effected by
the Trustee in accordance with the provisions hereof and those described in this Section 2.08 as not outstanding. Except as set forth in Section 2.09 hereof, a Note does not cease to be outstanding because the Issuer or a Guarantor or an
Affiliate of the Issuer or a Guarantor holds the Note. 
 If a Note is replaced pursuant to Section 2.07 hereof, it ceases to be
outstanding unless the Trustee receives proof satisfactory to it that the replaced Note is held by a protected purchaser (as defined in Section 8-303 of the Uniform Commercial Code). 

Notes in exchange for or in lieu of which other Notes have been authenticated and delivered pursuant to this Indenture shall not be deemed to
be outstanding for purposes hereof. 
 If the principal amount of any Note is considered paid under Section 4.01 hereof, such Note
shall cease to be outstanding and interest thereon shall cease to accrue. 
 If a Paying Agent (other than the Issuer or a Guarantor or an
Affiliate of the Issuer or a Guarantor) holds, on a Redemption Date or maturity date, money sufficient to pay Notes (or portions thereof) payable on that date, then on and after that date such Notes (or portions thereof) shall be deemed to be no
longer outstanding (including for accounting purposes) and shall cease to accrue interest on and after such date. 

  
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 Section 2.09. Treasury Notes. In determining whether the
Holders of the required principal amount of Notes have concurred in any direction, waiver or consent, Notes owned by the Issuer or by any Affiliate of the Issuer (other than a Debt Fund Affiliate; provided that the aggregate amount of Notes
held by any Debt Fund Affiliate shall be deemed to be not outstanding to the extent in excess of 49.9% of the amount required for all purposes of calculating whether the Holders of a majority in principal amount of the outstanding Notes have taken
any actions) shall be considered as though not outstanding, except that for the purposes of determining whether the Trustee shall be protected in relying on any such direction, waiver or consent, only Notes that a Responsible Officer of the Trustee
actually knows are so owned shall be so disregarded. Notes so owned which have been pledged in good faith shall not be disregarded if the pledgee establishes to the satisfaction of the Trustee the pledgee’s right to deliver any such direction,
waiver or consent with respect to such pledged Notes and that the pledgee is not the Issuer or a Guarantor or any Affiliate of the Issuer or a Guarantor (other than a Debt Fund Affiliate; provided that the aggregate amount of Notes held by
any Debt Fund Affiliate shall be deemed to be not outstanding to the extent in excess of 49.9% of the amount required for all purposes of calculating whether the Holders of a majority in principal amount of the outstanding Notes have taken any
actions). 
 Section 2.10. Temporary Notes. Until certificates representing Notes are ready for delivery,
the Issuer may prepare and the Trustee, upon receipt of an Authentication Order, shall authenticate temporary Notes. Temporary Notes shall be substantially in the form of certificated Notes but may have variations that the Issuer consider
appropriate for temporary Notes. Without unreasonable delay, the Issuer shall prepare and the Trustee shall authenticate Definitive Notes in exchange for temporary Notes. 

Holders and beneficial holders, as the case may be, of temporary Notes shall be entitled to all of the benefits accorded to Holders, or
beneficial holders, respectively, of Notes under this Indenture. 
 Section 2.11. Cancellation. The Issuer
at any time may deliver Notes to the Trustee for cancellation. The Registrar and the Paying Agent shall forward to the Trustee any such Notes surrendered to them for registration of transfer, exchange or payment. The Trustee or, at the direction of
the Trustee, the Registrar or the Paying Agent and no one else shall cancel all Notes surrendered for registration of transfer, exchange, payment, replacement or cancellation and shall dispose of such cancelled Notes in its customary manner (subject
to the record retention requirements of the Exchange Act). Certification of the cancellation of all cancelled Notes shall be delivered to the Issuer upon its written request therefor. The Issuer may not issue new Notes to replace Notes that it has
paid or that have been delivered to the Trustee for cancellation. 
 Section 2.12. Defaulted Interest. If
the Issuer defaults in a payment of interest on the Notes, it shall pay the defaulted interest in any lawful manner plus, to the extent lawful, interest payable on the defaulted interest to the Persons who are Holders on a subsequent special record
date, in each case at the rate provided in the Notes and in Section 4.01 hereof. The Issuer shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at
the same time the Issuer shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the
date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Issuer shall fix or cause to be fixed any such special record
date and payment date; provided that no such special record date shall be less than 10 days prior to the related payment date for such defaulted interest. The Issuer shall promptly notify the Trustee of any such special record date. At least
15 days before any such special record date, the Issuer (or, upon the written request of the Issuer, the Trustee in the name and at the expense of the Issuer) shall send or cause to be sent to each Holder, with a copy to the Trustee, a notice at his
or her address as it appears in the Note Register that states the special record date, the related payment date and the amount of such interest to be paid. 

Subject to the foregoing provisions of this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon
registration of transfer of or in exchange for or in lieu of any other Note shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Note. 

  
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 Section 2.13. CUSIP Numbers; ISINs. The Issuer in
issuing the Notes may use CUSIP numbers and ISINs (in each case, if then generally in use) and, if so, the Trustee shall use CUSIP numbers and ISINs in notices of redemption or exchange as a convenience to Holders; provided that any such
notice may state that no representation is made as to the correctness of such numbers either as printed on the Notes or as contained in any notice of redemption or exchange and that reliance may be placed only on the other identification numbers
printed on the Notes, and any such redemption or exchange shall not be affected by any defect in or omission of such numbers. The Issuer will as promptly as practicable notify the Trustee in writing of any change in the CUSIP numbers or ISINs. 

ARTICLE 3 
 REDEMPTION 

Section 3.01. Notices to Trustee. If the Issuer elects to redeem Notes pursuant to Section 3.07 hereof,
it shall furnish to the Trustee, at least two Business Days, in the case of Global Notes or five Business Days, in the case of Definitive Notes (unless a shorter notice shall be agreed to by the Trustee) before notice of redemption is required to be
delivered or mailed to Holders pursuant to Section 3.03 hereof, an Officer’s Certificate setting forth (a) the paragraph or subparagraph of such Note and/or Section of this Indenture pursuant to which the redemption shall occur,
(b) the date of redemption (as such date may be delayed pursuant to Section 3.07(f) hereof, the “Redemption Date”), (c) the principal amount of the Notes to be redeemed and (d) the redemption price. 

Section 3.02. Selection of Notes to Be Redeemed or Purchased. If less than all of the Notes are to be
redeemed or purchased at any time, the selection of the Notes to be redeemed or purchased will be made in accordance with the Applicable Procedures. In the event of partial redemption or purchase by lot, the particular Notes to be redeemed or
purchased shall be selected, unless otherwise provided herein, not less than 10 days nor more than 60 days (except as set forth in Section 3.07(f) hereof) prior to the Redemption Date by the Trustee from the outstanding Notes not previously
called for redemption or purchase. 
 The Trustee shall promptly notify the Issuer in writing of the Notes selected for redemption and, in
the case of any Note selected for partial redemption, the principal amount thereof to be redeemed. Notes and portions of Notes selected shall be in minimum denominations of $1,000 and integral multiples of $1,000 in excess thereof; no Notes in
denominations of $2,000 or less can be redeemed in part, except that if all of the Notes of a Holder are to be redeemed, the entire outstanding amount of Notes held by such Holder shall be redeemed, even if not in a principal amount of at least
$2,000. Except as provided in the preceding sentence, provisions of this Indenture that apply to Notes called for redemption also apply to portions of Notes called for redemption. 

Section 3.03. Notice of Redemption or Purchase. Subject to Section 3.07(e) and Section 3.08 hereof,
the Issuer shall send electronically, mail or cause to be mailed by first-class mail, postage prepaid, notices of redemption or purchase at least 10 days but not more than 60 days (except as set forth in Section 3.07(f) hereof) before the
Redemption Date to each Holder of the applicable Series of Notes to be redeemed or purchased at such Holder’s registered address stated in the Note Register or otherwise in accordance with the Applicable Procedures, except that redemption or
purchase notices may be delivered or mailed more than 60 days prior to a Redemption Date if the notice is issued in connection with Article 8 or Article 11 hereof. Notices of redemption or purchase may, at the Issuer’s discretion, be
conditional. The Issuer may also provide in any redemption or purchase notice that payment of the redemption price and the performance of the Issuer’s obligations with respect to such redemption or purchase may be performed by another Person.

 The notice shall identify the Notes to be redeemed or purchased and shall state: 

(a) the Redemption Date; 

(b) the redemption or purchase price; 

(c) if any Note is to be redeemed or purchased in part only, the portion of the principal amount of that Note that is to be
redeemed or purchased and, with respect to any Definitive Note, that after the Redemption Date upon surrender of such Note, a new Note or Notes in principal amount equal to the unredeemed or unpurchased portion of the original Note representing the
same indebtedness to the extent not redeemed will be issued in the name of the Holder upon cancellation of the original Note; provided that new Notes will only be issued in minimum denominations of $2,000 and in integral multiples of $1,000
in excess thereof; 

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

(e) that Notes called for redemption or purchase must be surrendered to the Paying Agent to collect the redemption or purchase
price; 
 (f) that, unless the Issuer defaults in making such redemption or purchase payment, interest on Notes called for
redemption or purchase ceases to accrue on and after the Redemption Date subject to the satisfaction or waiver of any conditions set forth in such notice; 

(g) the paragraph or subparagraph of the Notes and/or Section of this Indenture pursuant to which the Notes called for
redemption or purchase are being redeemed or purchased; 
 (h) the CUSIP number and ISIN, if any, printed on the Notes being
redeemed or purchased and that no representation is made as to the correctness or accuracy of any such CUSIP or, ISIN that is listed in such notice or printed on the Notes; and 

(i) any condition to such redemption or purchase. 

In addition, any notice of redemption or purchase may include additional information, including any information pursuant to
Section 3.07(f) hereof. 
 At the Issuer’s request, the Trustee shall give the notice of redemption or purchase in the
Issuer’s name and at the Issuer’s expense; provided that the Issuer shall have delivered to the Trustee, at least two Business Days, in the case of Global Notes, or five Business Days, in the case of Definitive Notes, before notice
of redemption or purchase is required to be delivered electronically, mailed or caused to be mailed to Holders pursuant to this Section 3.03 (unless a shorter notice shall be agreed to by the Trustee), an Officer’s Certificate requesting
that the Trustee give such notice and setting forth the information to be stated in such notice as provided in the preceding paragraph. 

If the Notes are listed on an exchange, for so long as the Notes are so listed and the rules of such exchange so require, the Issuer shall
notify the exchange of any such redemption or purchase and, if applicable, of the principal amount of any Notes outstanding following any partial redemption or purchase of Notes. 

Section 3.04. Effect of Notice of Redemption. A notice of redemption or purchase, if delivered
electronically, mailed or caused to be mailed in a manner herein provided, shall be conclusively presumed to have been given, whether or not the Holder receives such notice. In any case, failure to deliver such notice or any defect in the notice to
the Holder of any Note designated for redemption or purchase in whole or in part shall not affect the validity of the proceedings for the redemption or purchase of any other Note. Notes or portions of Notes called for redemption or purchase shall
become due and payable on the Redemption Date, subject to satisfaction or waiver of any conditions specified in the notice. Subject to Section 3.05 hereof, on and after the Redemption Date, unless the Issuer defaults in the payment of the
redemption or purchase price, interest shall cease to accrue on the Notes called for redemption or purchase. 

Section 3.05. Deposit of Redemption Price. 

(a) Prior to 11:00 a.m. (New York City time) on the Redemption Date, with respect to the Notes, the Issuer shall deposit with the Trustee or
with the Paying Agent money sufficient to pay the redemption price of and accrued and unpaid interest on all Notes to be redeemed on that Redemption Date; provided, that, to the extent any such funds are received by the Trustee or the Paying Agent
from the Issuer after such time on such date, such funds will be distributed to such Persons within one Business Day of the receipt thereof. The Trustee or the Paying Agent shall promptly return to the Issuer any money deposited with the Trustee or
the Paying Agent by the Issuer in excess of the amounts necessary to pay the redemption price of, and accrued and unpaid interest on, all Notes to be redeemed. 

  
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 (b) If the Issuer complies with the provisions of the preceding clause (a), on and after the
Redemption Date, unless the Issuer defaults in the payment of the redemption price and subject to the satisfaction or waiver of any conditions set forth in the applicable notice of redemption, interest shall cease to accrue on the Notes called for
redemption. If a Note is redeemed on or after an applicable Record Date but on or prior to the related Interest Payment Date, then any accrued and unpaid interest to the Redemption Date shall be paid to the Person in whose name such Note was
registered at the close of business on such Record Date in accordance with Applicable Procedures. If any Note called for redemption shall not be so paid upon surrender for redemption because of the failure of the Issuer to comply with the preceding
paragraph, interest shall be paid on the unpaid principal, from the Redemption Date until such principal is paid, and to the extent lawful on any interest accrued to the Redemption Date not paid on such unpaid principal, in each case at the rate
provided in the Notes and in Section 4.01 hereof. 
 Section 3.06. Notes Redeemed in Part. Upon
surrender of a Definitive Note that is redeemed in part, the Issuer shall issue and, upon receipt of a Company Order, the Trustee shall authenticate for the Holder, at the expense of the Issuer, a new Note equal in principal amount to the unredeemed
portion of the Note surrendered representing the same indebtedness to the extent not redeemed; provided that each new Note will be in a minimum principal amount of $2,000 and any integral multiple of $1,000 in excess thereof. It is understood
that, notwithstanding anything to the contrary in this Indenture, only an Authentication Order and an Officer’s Certificate and not an Opinion of Counsel are required for the Trustee to authenticate such new Note. 

Section 3.07. Optional Redemption. 

(a) Except as set forth in clauses (b), (d) and (e) of this Section 3.07, the Notes will not be redeemable at the Issuer’s
option prior to November 15, 2022. 
 (b) At any time prior to November 15, 2022, the Issuer may, at its option and on one or more
occasions, redeem all or a part of the Notes, upon notice in accordance with Section 3.03 hereof, at a redemption price equal to (A) 100.0% of the principal amount of the Notes redeemed, plus (B) the Applicable Premium as of the
Redemption Date, plus (C) accrued and unpaid interest, if any, to, but excluding, the Redemption Date, subject to the right of Holders of record on the relevant Record Date to receive interest due on the Notes on the relevant Interest Payment
Date falling prior to or on the Redemption Date. 
 (c) At any time on and after November 15, 2022, the Issuer may, at its option and on
one or more occasions, redeem all or a part of the Notes, upon notice in accordance with Section 3.03 hereof, at the redemption prices (expressed as percentages of principal amount of the Notes to be redeemed) set forth below, plus
accrued and unpaid interest, if any, thereon to, but excluding, the applicable Redemption Date, subject to the right of Holders of record on the relevant Record Date to receive interest due on the relevant Interest Payment Date falling prior to or
on the Redemption Date, if redeemed during the twelve-month period beginning on November 15 of each of the years indicated below: 
  

					
	 Year
	  	Notes
Redemption
Price	 
	 2022
	  	 	103.938	% 
	 2023
	  	 	101.969	% 
	 2024 and thereafter
	  	 	100.000	% 

 (d) At any time prior to November 15, 2022, the Issuer may, at its option and on one or more occasions,
redeem (i) an aggregate principal amount of Notes not to exceed the amount of the Net Cash Proceeds received by the Issuer from one or more Equity Offerings or a capital contribution to the Issuer made with the Net Cash Proceeds of one or more
Equity Offerings, upon notice in accordance with Section 3.03 hereof, at a redemption price equal to (i) 107.875% of the aggregate principal amount of the Notes redeemed, plus (ii) accrued and unpaid interest, if any, to, but excluding,
the Redemption Date, subject to the right of Holders of record on the relevant Record Date to receive interest due on the Notes on the relevant Interest Payment Date falling prior to or on the Redemption Date; provided that (A) the
amount redeemed pursuant to this clause (d) in the aggregate shall not exceed 40.0% of the aggregate principal amount of the Notes issued under this Indenture (including any Additional Notes); (B) at least 50.0% of the aggregate principal
amount of the Notes originally issued under this Indenture on the Issue Date remains outstanding immediately after the occurrence of each such redemption (unless all Notes are redeemed or repurchased substantially concurrently); and (C) each
such redemption occurs within 180 days of the date of closing of the applicable Equity Offering. 

  
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 (e) Notwithstanding the foregoing, in connection with any tender offer, Change of Control
Offer, Alternate Offer, Asset Sale Offer or Advance Offer for the Notes, if Holders of not less than 90% in aggregate principal amount of the then outstanding Notes validly tender and do not validly withdraw such Notes in such offer and the Issuer,
or any third party making such offer in lieu of the Issuer, purchases all of the Notes validly tendered and not validly withdrawn by such Holders, all of the Holders of the Notes will be deemed to have consented to such tender or other offer, and
accordingly the Issuer or such third party will have the right upon not less than 10 nor more than 60 days’ prior notice, given not more than 60 days following such purchase date, to redeem all Notes that remain outstanding following such
purchase at a price equal to the price offered to each other Holder in such offer (which may be less than par and excluding any early tender or incentive fee in such offer) plus, to the extent not included in the offer payment, accrued and unpaid
interest, if any, thereon, to, but excluding, the Redemption Date, subject to the right of Holders of Notes of record on the relevant record date to receive interest due on the relevant interest payment date falling prior to or on the Redemption
Date. In determining whether the Holders of at least 90% of the aggregate principal amount of the then outstanding Notes have validly tendered and not validly withdrawn Notes in a tender offer, Change of Control Offer, Alternate Offer, Asset Sale
Offer or Advance Offer, as applicable, Notes owned by an Affiliate of the Issuer or by funds controlled or managed by any Affiliate of the Issuer, or any successor thereof, shall be deemed to be outstanding for the purposes of such tender offer,
Change of Control Offer, Alternate Offer, Asset Sale Offer or Advance Offer, as applicable. 
 (f) Any redemption pursuant to this
Section 3.07 shall be made pursuant to the provisions of Sections 3.01 through 3.06 hereof. Notice of any redemption or offer to purchase, whether in connection with an Equity Offering, Change of Control, Alternate Offer, Asset Sale Offer,
Advance Offer or other transaction or event or otherwise, may, at the Issuer’s discretion, be given prior to the completion or occurrence thereof, and any such redemption, offer to purchase or notice may, at the Issuer’s discretion, be
subject to one or more conditions precedent (including conditions precedent applicable to different amounts of Notes redeemed), including completion or occurrence of the related Equity Offering, Change of Control, Asset Sale, Advance Offer or other
transaction or event, as the case may be. The Issuer may redeem Notes pursuant to one or more of the relevant provisions in this Indenture, and a single notice of redemption may be delivered with respect to redemptions made pursuant to different
provisions. Any such notice may provide that redemptions made pursuant to different provisions will have different Redemption Dates. In addition, if such redemption or offer to purchase is subject to satisfaction of one or more conditions precedent,
such notice shall state that, in the Issuer’s discretion, the redemption or repurchase date may be delayed until such time (including more than 60 days after the date the notice of redemption or offer to purchase was sent) as any or all such
conditions shall be satisfied (or waived by the Issuer in its sole discretion), or such redemption or purchase may not occur and such notice may be rescinded in the event that any or all such conditions shall not have been satisfied (or waived by
the Issuer in its sole discretion) by the redemption or purchase date, or by the redemption or purchase date so delayed, or that such notice or offer may be rescinded at any time in the Issuer’s sole discretion if the Issuer determines that any
or all of such conditions will not be satisfied or waived. In addition, the Issuer may provide in such notice or offer to purchase that payment of the redemption or purchase price and performance of the Issuer’s obligations with respect to such
redemption or offer to purchase may be performed by another Person. 
 (g) The Issuer, its direct and indirect equityholders, including the
Investors, any of its Subsidiaries and their respective Affiliates and members of management may acquire the Notes by means other than a redemption pursuant to this Article 3, whether by tender offer, open market purchases, negotiated transactions
or otherwise. 
 (h) Neither the Trustee nor any Agent shall have any duty to calculate or verify the calculation of the Applicable Premium.

 Section 3.08. Offers to Repurchase by Application of Excess Proceeds. 

(a) In the event that, pursuant to Section 4.10 hereof, the Issuer shall be required to commence an Asset Sale Offer, or if the Issuer
shall elect to commence an Advance Offer, the Issuer shall follow the procedures specified below. 

  
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 (b) The Asset Sale Offer or the Advance Offer, as the case may be, shall remain open for a
period of 20 Business Days following its commencement and no longer, except to the extent that a longer period is required by applicable law (the “Offer Period”). No later than five Business Days after the termination of the
Offer Period (the “Purchase Date”), the Issuer shall apply all Excess Proceeds (the “Offer Amount”), to the purchase of Notes and, if required or permitted by the terms thereof, Pari Passu Indebtedness (on a
pro rata basis, if applicable, with adjustments as necessary so that no Notes or Pari Passu Indebtedness, as the case may be, will be repurchased in part in an unauthorized denomination), or, if less than the Offer Amount has been tendered, all
Notes and Pari Passu Indebtedness (in the case of Excess Proceeds) tendered in response to the Asset Sale Offer or the Advance Offer, as the case may be. Payment for any Notes so purchased shall be made in the same manner as interest payments are
made. 
 (c) If the Purchase Date is on or after a Record Date and on or before the related Interest Payment Date, any accrued and unpaid
interest, if any, up to but excluding the Purchase Date shall be paid to the Person in whose name a Note is registered at the close of business on such Record Date, and no additional interest shall be payable to Holders who tender Notes pursuant to
the Asset Sale Offer or the Advance Offer, as the case may be. 
 (d) Upon the commencement of an Asset Sale Offer or an Advance Offer, as
the case may be, the Issuer shall send, electronically or by first-class mail, a notice to each of the Holders, with a copy to the Trustee. The notice shall contain all instructions and materials necessary to enable such Holders to tender Notes
pursuant to the Asset Sale Offer or the Advance Offer, as the case may be. The Asset Sale Offer or the Advance Offer, as the case may be, shall be made to all Holders and, if required or permitted by the terms thereof, holders of such Pari Passu
Indebtedness. The notice, which shall govern the terms of the Asset Sale Offer or the Advance Offer, as the case may be, shall state: 

(i) that the Asset Sale Offer or the Advance Offer, as the case may be, is being made pursuant to this Section 3.08 and
Section 4.10 hereof and the length of time the Asset Sale Offer or the Advance Offer, as the case may be, shall remain open; 

(ii) the Offer Amount, the purchase price and the Purchase Date; 

(iii) that any Note not tendered or accepted for payment shall continue to accrue interest; 

(iv) that, unless the Issuer defaults in making such payment, any Note accepted for payment pursuant to the Asset Sale Offer or
the Advance Offer, as the case may be, shall cease to accrue interest on and after the Purchase Date; 
 (v) that any Holder
electing to have less than all of the aggregate principal amount of its Notes purchased pursuant to an Asset Sale Offer or an Advance Offer, as the case may be, may elect to have Notes purchased in integral multiples of $1,000; 

(vi) that Holders electing to have a Note purchased pursuant to any Asset Sale Offer or Advance Offer, as the case may be,
shall be required to surrender the Note, with the form entitled “Option of Holder to Elect Purchase” attached to the Note completed, or transfer such Note by book-entry transfer, to the Issuer, the Depositary, if appointed by the Issuer,
or a Paying Agent at the address specified in the notice at least two Business Days before the Purchase Date; 
 (vii) that
Holders shall be entitled to withdraw their election if the Issuer, the Depositary or the Paying Agent, as the case may be, receives, not later than the close of business on the tenth Business Day prior to the expiration date of the Offer Period, an
electronic transmission (in PDF), a facsimile transmission or letter setting forth the name of the Holder, the principal amount of the Note the Holder delivered for purchase and a statement that such Holder is withdrawing his election to have such
Note purchased; 

  
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 (viii) that, if the aggregate principal amount of Notes and, if applicable,
any Pari Passu Indebtedness, surrendered by the holders thereof exceeds the Offer Amount, the Issuer shall purchase such Notes (subject to applicable DTC procedures as to Global Notes) and such Pari Passu Indebtedness, as the case may be, on a pro
rata basis based on the aggregate principal amount (or accreted value, if applicable) of the Notes or such Pari Passu Indebtedness, as the case may be, tendered (with such adjustments as may be deemed appropriate by the Issuer so that only Notes in
an amount not less than $2,000 or integral multiples of $1,000 in excess thereof; and 
 (ix) that Holders whose certificated
Notes were purchased only in part shall be issued new Notes equal in principal amount to the unpurchased portion of the Notes surrendered (or transferred by book-entry transfer) representing the same indebtedness to the extent not repurchased;
provided that new Notes will only be issued in denominations of $2,000 and in integral multiples of $1,000 in excess thereof. 
 The
notice, if delivered electronically or mailed in a manner herein provided, shall be conclusively presumed to have been given, whether or not the Holder receives such notice. If (i) the notice is delivered or mailed in a manner herein provided
and (ii) any Holder fails to receive such notice or a Holder receives such notice but it is defective, such Holder’s failure to receive such notice or such defect shall not affect the validity of the proceedings for the purchase of the
Notes as to all other Holders that properly received such notice without defect. 
 (e) On or before the Purchase Date, the Issuer shall, to
the extent lawful, (1) accept for payment, on a pro rata basis as described in clause (d)(viii) of this Section 3.08, the Offer Amount of Notes or portions thereof validly tendered pursuant to the Asset Sale Offer or the Advance Offer, as
the case may be, or if less than the Offer Amount has been tendered, all Notes tendered and (2) deliver or cause to be delivered to the Trustee the Notes properly accepted, together with an Officer’s Certificate stating the aggregate
principal amount of Notes or portions thereof so tendered. 
 (f) The Issuer, the Depositary or the Paying Agent, as the case may be, shall
promptly mail or deliver to each tendering Holder an amount equal to the purchase price of the Notes properly tendered by such Holder and accepted by the Issuer for purchase, and the Issuer shall promptly issue a new Note, and the Trustee, upon
receipt of an Authentication Order, shall authenticate and mail or deliver (or cause to be transferred by book-entry) such new Note to such Holder (it being understood that, notwithstanding anything in this Indenture to the contrary, only an
Officer’s Certificate and not an Opinion of Counsel is required for the Trustee to authenticate and mail or deliver such new Note) in a principal amount equal to any unpurchased portion of the Note surrendered representing the same indebtedness
to the extent not repurchased; provided, that each such new Note shall be in a principal amount of $2,000 or an integral multiple of $1,000 in excess thereof. Any Note not so accepted shall be promptly mailed or delivered by the Issuer to the
Holder thereof. The Issuer shall announce the results of the Asset Sale Offer or the Advance Offer, as the case may be, on or as soon as practicable after the Purchase Date or the website or online system maintain pursuant to Section 4.03(a)
hereof. 
 (g) Prior to noon (New York City time) on the Purchase Date the Issuer shall deposit with the Trustee or with the Paying Agent
money sufficient to pay the purchase price of and accrued and unpaid interest on all Notes to be purchased on that Purchase Date; provided, that, to the extent any such funds are received by the Trustee or the Paying Agent from the Issuer after such
time on such date, such funds will be distributed to such Persons within one Business Day of the receipt thereof. The Trustee or the Paying Agent shall promptly return to the Issuer any money deposited with the Trustee or the Paying Agent by the
Issuer in excess of the amounts necessary to pay the purchase price of, and accrued and unpaid interest on, all Notes to be redeemed. 

Other than as specifically provided in this Section 3.08 or Section 4.10 hereof, any purchase pursuant to this Section 3.08
shall be made pursuant to the applicable provisions of Sections 3.01 through 3.06 hereof, and references therein to “redeem,” “redemption,” “Redemption Date” and similar words shall be deemed to refer to
“purchase,” “repurchase,” “Purchase Date” and similar words, as applicable. 

Section 3.09. Mandatory Redemption. The Issuer shall not be required to make any mandatory redemption or
sinking fund payment with respect to the Notes. 

  
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 ARTICLE 4 

COVENANTS 

Section 4.01. Payment of Notes. The Issuer shall pay or cause to be paid the principal of, and premium, if
any, and interest on the Notes on the dates and in the manner provided in the Notes and this Indenture. Principal and premium, if any, and interest shall be considered paid on the date due if the Paying Agent, if other than the Issuer or a Guarantor
or an Affiliate of the Issuer or a Guarantor, holds as of noon (New York City time) on the due date money deposited by the Issuer in immediately available funds and designated for and sufficient to pay all principal and premium, if any, and interest
then due; provided, that, to the extent any such funds are received by the Trustee or the Paying Agent from the Issuer after such time on such date, such funds will be distributed to such Persons within one Business Day of the receipt thereof. 

The Paying Agent shall not be obliged to make any payment until such time as it has received sufficient funds in order to make such payment.

 The Issuer shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal at the
rate equal to the then applicable interest rate on the Notes to the extent lawful; the Issuer shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (without regard to any
applicable grace period) at the same rate to the extent lawful. 
 Section 4.02. Maintenance of Office or
Agency. The Issuer shall maintain the offices or agencies (which may be an office of the Trustee or an affiliate of the Trustee, Registrar or Transfer Agent) required under Section 2.03 hereof where Notes may be surrendered for registration
of transfer or for exchange or presented for payment and where notices and demands to or upon the Issuer in respect of the Notes and this Indenture may be served. The Issuer shall give prompt written notice to the Trustee of the location, and any
change in the location, of such office or agency. If at any time the Issuer shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands
may be made or served at the Corporate Trust Office; provided that the Corporate Trust Office of the Trustee shall not be an office or agency of the Issuer for the purpose of effecting service of legal process against the Issuer or any
Guarantor. 
 The Issuer may also from time to time designate one or more other offices or agencies where the Notes may be presented or
surrendered for any or all such purposes and may from time to time rescind such designations; provided that no such designation or rescission shall in any manner relieve the Issuer of their obligation to maintain such offices or agencies as
required by Section 2.03 hereof for such purposes. The Issuer shall give prompt written notice to the Trustee of any such designation or rescission and of any change in the location of any such other office or agency. 

The Issuer hereby designate the Corporate Trust Office and U.S. Bank National Association as such offices or agencies of the Issuer in
accordance with Section 2.03 hereof. 
 Section 4.03. Reports and Other Information. 

(a) So long as any Notes are outstanding, the Issuer shall have its annual consolidated financial statements audited by a nationally
recognized firm of independent auditors. In addition, after the Issue Date, so long as any Notes are outstanding, the Issuer shall furnish to the Holders of the Notes the following reports: 

(1) (x) all annual and quarterly financial statements substantially in forms that would be required to be contained in a filing
with the SEC on Forms 10-K and 10-Q of the Issuer, if the Issuer were required to file such forms, plus a “Management’s Discussion and Analysis of Financial
Condition and Results of Operations”; (y) with respect to the annual and quarterly information, a presentation of “Covenant EBITDA” of the Issuer substantially consistent with the presentation thereof in the Offering Memorandum and
derived from such financial information; and (z) with respect to the annual financial statements only, a report on the annual financial statements by the Issuer’s independent registered public accounting firm; and 

  
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 (2) substantially the same information that would be required to be
contained in filings with the SEC on Form 8-K under Items 1.01, 1.02, 1.03, 2.01 (only with respect to acquisitions that are “significant” at the 20% or greater level pursuant to clauses (1) and
(2) of the definition of “Significant Subsidiary” under Rule 1-02 of Regulation S-X only), 4.01, 4.02(a) and (b), 5.01 and 5.02(b) (with respect to
the principal executive officer, president, principal financial officer, principal accounting officer and principal operating officer only) and (c) (with respect to the principal executive officer, president, principal financial officer, principal
accounting officer and principal operating officer only and other than with respect to information otherwise required or contemplated by subclause (3) of such Item or by Item 402 of Regulation S-K) as in
effect on the Issue Date if the Issuer were required to file such reports; 
 provided, however, that (A) no such report shall be
required to include as an exhibit, or to include a summary of the terms of, any employment or compensatory arrangement, agreement, plan or understanding between the Issuer (or any of its direct or indirect parent entities or its Subsidiaries) and
any director, manager or officer, of the Issuer (or any of its direct or indirect parent entities or its Subsidiaries), (B) the Issuer shall not be required to make available any information regarding the occurrence of any of the events set forth in
clause (2) above if the Issuer determines in its good faith judgment that the event that would otherwise be required to be disclosed is not material to the Holders of the Notes or the business, assets, operations, financial positions or
prospects of the Issuer and its Restricted Subsidiaries taken as a whole, (C) no such report will be required to comply with Regulation G under the Exchange Act or Item 10(e) of Regulation S-K with
respect to any “non-GAAP” financial information contained therein, (D) no such report shall be required to comply with Regulation S-X including, without
limitation, Rules 3-05, 3-09, 3-10, 3-16 or Article 11 thereof, (E) no such report
shall be required to provide any information that is not otherwise similar to information currently included in the Offering Memorandum, (F) in no event shall such reports be required to include as an exhibit copies of any agreements, financial
statements or other items that would be required to be filed as exhibits under the SEC rules; (G) trade secrets and other information that could cause competitive harm to the Issuer and its Restricted Subsidiaries may be excluded from any
disclosures; (H) such financial statements or information shall not be required to contain any “segment reporting”; and (I) such financial statements and information may, at the election of the Issuer, be prepared in accordance
with U.S. GAAP or IFRS. 
 All such annual reports shall be furnished within 120 days after the end of the fiscal year to which they relate
(within 150 days after the end of the first fiscal year ending after the Issue Date); all such quarterly reports shall be furnished within 60 days after the end of the fiscal quarter to which they relate (within 90 days after the end of the first
fiscal quarter reported after the Issue Date); and all such current reports shall be furnished within 15 days of the due date specified in the SEC’s rules and regulations for reporting companies under the Exchange Act. 

The Issuer will be deemed to have furnished the reports referred to in subclauses (1) and (2) of this Section 4.03(a) if the Issuer
or any parent entity of the Issuer has filed reports containing substantially such information (or any such information of a parent entity pursuant to the fourth succeeding paragraph) with the SEC. 

If the Issuer or any parent entity of the Issuer does not file reports containing such information with the SEC, then the Issuer shall make
available such information and such reports to any Holder of the Notes and to any beneficial owner of the Notes, in each case by posting such information on a password-protected website or online data system which shall require a confidentiality
acknowledgment, and shall make such information readily available to any bona fide prospective investor, any securities analyst (to the extent providing analysis of investment in the Notes) or any market maker in the Notes who agrees to treat such
information as confidential; provided that the Issuer shall post such information thereon and make readily available any password or other login information to any such bona fide prospective investor, securities analyst or market maker;
provided, however, that the Issuer may deny access to any competitively-sensitive information otherwise to be provided pursuant to this covenant to any such Holder, beneficial owner, bona fide prospective investor, securities analyst or
market maker to the extent that the Issuer determines in good faith that the provision of such information to such Person would be competitively harmful to the Issuer and its Subsidiaries; provided further, that such Holders, beneficial
owners, bona fide prospective investors, securities analysts and market makers shall agree to (A) treat all such reports (and information contained therein) as confidential, (B) not to use such reports (and the information contained
therein) for any purpose other than their investment or potential investment in the Notes and (C) not publicly disclose any such reports (and the information contained therein). 

  
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 (b) To the extent not satisfied by Section 4.03(a) hereof, the Issuer shall furnish to
Holders of the Notes, securities analysts and prospective investors upon request the information required to be delivered pursuant to Rule 144A(d)(4) under the Securities Act, so long as the Notes are not freely transferable under the Securities
Act. 
 (c) If any Subsidiary of the Issuer is an Unrestricted Subsidiary and if any such Unrestricted Subsidiary or group of Unrestricted
Subsidiaries, if taken together as one Subsidiary, would constitute a Significant Subsidiary of the Issuer, then the annual and quarterly information required by Section 4.03(a)(1) hereof shall include a presentation of selected financial
metrics (in the Issuer’s sole discretion) of such Unrestricted Subsidiaries as a group in the “Management’s Discussion and Analysis of Financial Condition and Results of Operations.” 

(d) Notwithstanding the foregoing, the Issuer may satisfy its obligations under this Section 4.03 by furnishing financial information
relating to the Parent Guarantor or any parent entity of the Issuer; provided that if the Parent Guarantor or such parent entity does not guarantee the Notes then the same is accompanied by selected financial metrics that show the differences
(in the Issuer’s sole discretion) between the information relating to the Parent Guarantor or such parent, on the one hand, and the information relating to the Issuer and its Restricted Subsidiaries on a stand-alone basis, on the other hand.

 (e) Notwithstanding anything herein to the contrary, the Issuer will not be deemed to have failed to comply with any of its obligations
hereunder for purposes of clause (iii) of Section 6.01(a) hereof until 180 days after the receipt of the written notice delivered thereunder. 

To the extent any information is not provided within the time periods specified in this Section 4.03 and such information is subsequently
provided, the Issuer will be deemed to have satisfied its obligations with respect thereto at such time and any Default with respect thereto shall be deemed to have been cured. 

The Trustee shall have no duty to review or analyze any reports furnished or made available to it and the Trustee’s receipt of such
reports shall not constitute actual or constructive knowledge of the information contained therein or determinable therefrom, including the Issuer’s compliance with any of its covenants (as to which the Trustee is entitled to conclusively rely
on an Officers’ Certificate). 
 Section 4.04. Compliance Certificate. 

(a) the Issuer shall deliver to the Trustee, within 120 days after the end of each fiscal year ending after the Issue Date, a certificate from
its principal executive officer, principal financial officer or principal accounting officer stating that a review of the activities of the Issuer and its Restricted Subsidiaries during the preceding fiscal year has been made under the supervision
of the signing Officer with a view to determining whether the Issuer and its Restricted Subsidiaries have kept, observed, performed and fulfilled their respective obligations under this Indenture, and further stating, as to such Officer signing such
certificate, that to the best of his or her knowledge, on behalf of the Issuer and its Restricted Subsidiaries have kept, observed, performed and fulfilled in all material respects each and every condition and covenant contained in this Indenture
during such fiscal year and no Default has occurred and is continuing with respect to any of the terms, provisions, covenants and conditions of this Indenture (or, if a Default shall have occurred and is continuing, describing all such Defaults of
which he or she may have knowledge and what action the Issuer is taking or proposes to take with respect thereto). 
 (b) When any Default
has occurred and is continuing under this Indenture, or if the Trustee or the holder of any other evidence of Indebtedness of the Issuer or any Subsidiary gives any notice or takes any other action with respect to a claimed Default, the Issuer shall
promptly (which shall be no more than 20 Business Days after becoming aware of such Default) deliver to the Trustee by registered or certified mail or by facsimile or electronic transmission an Officer’s Certificate specifying such Default
(unless such Default has been cured or waived within such 20-Business Day time period). 

Section 4.05. Taxes. The Issuer shall pay or discharge, and shall cause each of its Restricted Subsidiaries
to pay or discharge, prior to delinquency, all material taxes, lawful assessments, and governmental levies except such as are contested in good faith and by appropriate actions or where the failure to effect such payment or discharge is not adverse
in any material respect to the Holders. 

  
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 Section 4.06. Stay, Extension and Usury Laws. The Issuer
and each of the Subsidiary Guarantors covenant (to the extent that they may lawfully do so) that they shall not at any time insist upon, plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay, extension or usury law
wherever enacted, now or at any time hereafter in force, that may affect the covenants or the performance of this Indenture and the Notes; and the Issuer and each of the Subsidiary Guarantors (to the extent that they may lawfully do so) hereby
expressly waive all benefit or advantage of any such law, and (to the extent that they may lawfully do so) covenant that they shall not, by resort to any such law, hinder, delay or impede the execution of any power herein granted to the Trustee, but
shall suffer and permit the execution of every such power as though no such law has been enacted. 
 Section 4.07.
Limitation on Restricted Payments. 
 (a) The Issuer shall not, and shall not permit any of its Restricted Subsidiaries to,
directly or indirectly: 
 (i) declare or pay any dividend or make any payment or distribution on account of the Issuer, or
any of its Restricted Subsidiaries’, Equity Interests (in each case, solely to a holder of Equity Interests in such Person’s capacity as a holder of such Equity Interests), including any dividend, payment or distribution payable in
connection with any merger, amalgamation or consolidation other than: 
 (A) dividends, payments and distributions by the
Issuer payable solely in Equity Interests (other than Disqualified Stock) of the Issuer or in options, warrants or other rights to purchase such Equity Interests (other than Disqualified Stock); or 

(B) dividends, payments and distributions by a Restricted Subsidiary so long as, in the case of any dividend, payment or
distribution payable on or in respect of any class or series of securities issued by a Restricted Subsidiary other than a Wholly-Owned Subsidiary, the Issuer or a Restricted Subsidiary receives at least its pro rata share of such dividend, payment
or distribution in accordance with its Equity Interests in such class or series of securities; 
 (ii) purchase, redeem,
defease or otherwise acquire or retire for value any Equity Interests of the Issuer or any direct or indirect parent company of the Issuer, including any purchase, redemption, defeasance, acquisition or retirement in connection with any merger,
amalgamation or consolidation, in each case held by a Person other than the Issuer or a Restricted Subsidiary; 
 (iii) make
any principal payment on, or redeem, repurchase, defease or otherwise acquire or retire for value, in each case, prior to any scheduled repayment, sinking fund payment or maturity, any Subordinated Indebtedness, other than: 

(A) Indebtedness permitted under clauses (vii) and (viii) of Section 4.09(b) hereof; or 

(B) the payment, redemption, purchase, repurchase, defeasance or other acquisition or retirement for value of Subordinated
Indebtedness purchased in anticipation of satisfying a sinking fund obligation, principal installment or final maturity, in each case due within one year of the date of payment, redemption, purchase, repurchase, defeasance or acquisition or
retirement; or 
 (iv) make any Restricted Investment 

(all such payments and other actions set forth in clauses (i) through (iv) above (other than any exceptions thereto) being collectively
referred to as “Restricted Payments”), unless, at the time of such Restricted Payment: 

  
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 (A) no Default or Event of Default shall have occurred and be continuing or
would occur as a consequence thereof; 
 (B) immediately after giving effect to such transaction on a pro forma basis, the
Issuer could incur $1.00 of additional Indebtedness pursuant to Section 4.09(a) hereof; and 
 (C) such Restricted
Payment, together with the aggregate amount of all other Restricted Payments made by the Issuer and its Restricted Subsidiaries after the Issue Date (including Restricted Payments permitted by clauses (i) (without duplication) and (vi)(C) of
Section 4.07(b) hereof), but excluding all other Restricted Payments permitted by Section 4.07(b) hereof), is less than the sum of (without duplication): 

(1) 50.0% of the Consolidated Net Income of the Issuer for the period (taken as one accounting period and including any
predecessor of the Issuer) beginning on October 1, 2020 to the end of the Issuer’s most recently ended fiscal quarter for which internal financial statements are available at the time of such Restricted Payment; plus 

(2) 100.0% of the aggregate Net Cash Proceeds and the fair market value of marketable securities or other property received by
the Issuer or its Restricted Subsidiaries after the Issue Date (other than Net Cash Proceeds to the extent such Net Cash Proceeds have been used to incur Indebtedness or issue Disqualified Stock or Preferred Stock pursuant to clause (xii)(A) of
Section 4.09(b) hereof) from the issue or sale of: 
 (i) (A) Equity Interests of the Issuer, including Treasury
Capital Stock, but excluding Net Cash Proceeds and the fair market value of marketable securities or other property received from the sale of: 

(x) Equity Interests of the Issuer to any future, present or former employees, directors, officers, managers, independent
contractors or consultants (or their respective Controlled Investment Affiliates or Immediate Family Members) of the Issuer, any direct or indirect parent company of the Issuer or any of the Issuer’s Subsidiaries after the Issue Date to the
extent such amounts have been applied to Restricted Payments made in accordance with clause (iv) of Section 4.07(b) hereof; and 

(y) Designated Preferred Stock; and 

(B) to the extent such Net Cash Proceeds, marketable securities or other property are actually contributed to the Issuer or
any of its Restricted Subsidiaries, Equity Interests of the Issuer or any of the Issuer’s direct or indirect parent companies (excluding contributions of the proceeds from the sale of Designated Preferred Stock of any such companies or
contributions to the extent such amounts have been applied to Restricted Payments made in accordance with clause (iv) of Section 4.07(b) hereof); or 

(ii) Indebtedness or Disqualified Stock of the Issuer or a Restricted Subsidiary that has been converted into or exchanged for
such Equity Interests of the Issuer or a parent company of the Issuer; 
 provided that this clause (2) shall not include the
proceeds from (w) Refunding Capital Stock applied in accordance with clause (ii) of Section 4.07(b) hereof, (x) Equity Interests or convertible debt securities of the Issuer or a Restricted Subsidiary sold to a Restricted
Subsidiary or to the Issuer , (y) Disqualified Stock or debt securities that have been converted into Disqualified Stock or (z) Excluded Contributions; plus 

  
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 (3) 100.0% of the aggregate amount of Cash Equivalents and the fair market
value of marketable securities or other property contributed to the capital of the Issuer or a Restricted Subsidiary (including the aggregate principal amount of any Indebtedness of the Issuer or a Restricted Subsidiary contributed to the Issuer or
a Restricted Subsidiary for cancellation) or that becomes part of the capital of the Issuer or a Restricted Subsidiary through consolidation, amalgamation or merger following the Issue Date (other than (i) Net Cash Proceeds to the extent such
Net Cash Proceeds have been used to incur Indebtedness or issue Disqualified Stock or Preferred Stock pursuant to clause (xii)(A) of Section 4.09(b) hereof, (ii) contributions by a Restricted Subsidiary or the Issuer and (iii) any
Excluded Contributions); plus 
 (4) 100.0% of the aggregate amount received in Cash Equivalents and the fair market
value of marketable securities or other property received by the Issuer or any Restricted Subsidiary by means of: 
 (i) the
sale or other disposition (other than to the Issuer or a Restricted Subsidiary) of, or other returns on Investments from, Restricted Investments made by the Issuer or its Restricted Subsidiaries and repurchases and redemptions of such Restricted
Investments from the Issuer or its Restricted Subsidiaries and repayments of loans or advances, and releases of guarantees, which constitute Restricted Investments made by the Issuer or its Restricted Subsidiaries, in each case after the Issue Date;
or 
 (ii) the issuance, sale or other disposition (other than to the Issuer or a Restricted Subsidiary) of the Equity
Interests of, or a dividend or distribution (other than an Excluded Contribution) from, an Unrestricted Subsidiary (other than, in each case, to the extent the Investment in such Unrestricted Subsidiary was made by the Issuer or a Restricted
Subsidiary pursuant to clause (vii) of Section 4.07(b) hereof or to the extent such Investment constituted a Permitted Investment, but including such Cash Equivalents and fair market value to the extent exceeding the amount of such
Investment), in each case, after the Issue Date; or 
 (iii) any returns, profits, distributions and similar amounts
received on account of any Permitted Investment subject to a dollar-denominated or ratio-based basket (to the extent in excess of the original amount of such Investment) and without duplication of any returns, profits, distributions or similar
amounts included in the calculation of such basket; plus 
 (5) in the case of the redesignation of an Unrestricted
Subsidiary as a Restricted Subsidiary or the merger, amalgamation or consolidation of an Unrestricted Subsidiary into the Issuer or a Restricted Subsidiary or the transfer of all or substantially all of the assets of an Unrestricted Subsidiary to
the Issuer or a Restricted Subsidiary after the Issue Date, the fair market value (as determined by the Issuer in good faith) of the Investment in such Unrestricted Subsidiary (or the assets transferred) at the time of the redesignation of such
Unrestricted Subsidiary as a Restricted Subsidiary or at the time of such merger, amalgamation, consolidation or transfer of assets, other than to the extent the Investment in such Unrestricted Subsidiary was made by the Issuer or a Restricted
Subsidiary pursuant to clause (vii) of Section 4.07(b) hereof or to the extent such Investment constituted a Permitted Investment made after the Issue Date, but, to the extent exceeding the amount of such Permitted Investment, including
such excess amounts of fair market value; plus 
 (6) the aggregate amount of Declined Proceeds since the Issue Date;
plus 
 (7) the greater of (A) $110.0 million and (B) 35.0% of LTM EBITDA. 

  
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 (b) The provisions of Section 4.07(a) hereof shall not prohibit: 

(i) the payment of any dividend or other distribution or the consummation of any irrevocable redemption within 60 days after
the date of declaration of the dividend or other distribution or the giving of the redemption notice, as the case may be, if at the date of declaration or notice, the dividend or other distribution or redemption payment would have complied with the
provisions of this Indenture; 
 (ii) (A) the redemption, repurchase, defeasance, retirement or other acquisition of any
Equity Interests (“Treasury Capital Stock”), including any accrued and unpaid dividends thereon, or Subordinated Indebtedness of the Issuer or any Restricted Subsidiary or any Equity Interests of any direct or indirect parent
company of the Issuer, in exchange for, or in an amount not to exceed the proceeds of, the substantially concurrent sale or issuance (other than to a Restricted Subsidiary) of Equity Interests of the Issuer or any direct or indirect parent company
of the Issuer to the extent contributed to the Issuer (in each case, other than any Disqualified Stock) (“Refunding Capital Stock”), (B) the declaration and payment of dividends on Treasury Capital Stock out of the
proceeds of the substantially concurrent sale or issuance (other than to a Subsidiary of the Issuer or to an employee stock ownership plan or any trust established by the Issuer or any of its Subsidiaries) of Refunding Capital Stock, and
(C) if, immediately prior to the retirement of Treasury Capital Stock, the declaration and payment of dividends thereon was permitted under clauses (vi)(A) or (B) of this Section 4.07(b), the declaration and payment of dividends
on the Refunding Capital Stock (other than Refunding Capital Stock the proceeds of which were used to redeem, repurchase, retire or otherwise acquire any Equity Interests of any direct or indirect parent company of the Issuer) in an aggregate amount
per year no greater than the aggregate amount of dividends per annum that were declarable and payable on such Treasury Capital Stock immediately prior to such retirement; 

(iii) the prepayment, defeasance, redemption, repurchase, exchange or other acquisition or retirement of (1) Subordinated
Indebtedness of the Issuer or a Subsidiary Guarantor made by exchange for, or in an amount not to exceed the proceeds of the sale of, new Indebtedness of the Issuer or a Subsidiary Guarantor or Disqualified Stock of the Issuer or a Subsidiary
Guarantor made within 120 days of such incurrence or issuance of new Indebtedness or Disqualified Stock or (2) Disqualified Stock of the Issuer or a Subsidiary Guarantor made by exchange for, or in an amount not to exceed the proceeds of the
sale of, Disqualified Stock of the Issuer or a Subsidiary Guarantor made within 120 days of such issuance of Disqualified Stock, that, in each case, is incurred or issued, as applicable, in compliance with Section 4.09 hereof so long as: 

(A) the principal amount (or accreted value, if applicable) of such new Indebtedness or the liquidation preference of such new
Disqualified Stock does not exceed the principal amount of (or accreted value, if applicable), plus any accrued and unpaid interest on, the Subordinated Indebtedness or the liquidation preference of, plus any accrued and unpaid dividends on, the
Disqualified Stock being so prepaid, defeased, redeemed, repurchased, exchanged, acquired or retired for value, plus the amount of any premium (including tender premium) paid on the Subordinated Indebtedness or Disqualified Stock being so defeased,
redeemed, repurchased, exchanged, acquired or retired, defeasance costs and any fees and expenses incurred in connection with the issuance of such new Indebtedness or Disqualified Stock; 

(B) such new Indebtedness is subordinated to the Notes or the applicable Guarantee at least to the same extent as such
Subordinated Indebtedness so defeased, redeemed, repurchased, exchanged, acquired or retired; 
 (C) such new Indebtedness or
Disqualified Stock has a final scheduled maturity date equal to or later than the final scheduled maturity date of the Subordinated Indebtedness or Disqualified Stock being so defeased, redeemed, repurchased, exchanged, acquired or retired (or, if
earlier, a date that is at least 91 days after the maturity date of the Notes); and 
 (D) such new Indebtedness or
Disqualified Stock has a Weighted Average Life to Maturity equal to or greater than the remaining Weighted Average Life to Maturity of the Subordinated Indebtedness or Disqualified Stock being so defeased, redeemed, repurchased, exchanged, acquired
or retired (or requires no or nominal payments in cash prior to the date that is 91 days after the maturity date of the Notes); 

  
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 (iv) a Restricted Payment to pay for the repurchase, redemption or other
acquisition or retirement for value of Equity Interests (other than Disqualified Stock) of the Issuer or any direct or indirect parent company of the Issuer held by any future, present or former employees, directors, officers, managers, members,
partners, independent contractors or consultants (or their respective Controlled Investment Affiliates or Immediate Family Members) of the Issuer, any of its Subsidiaries or any of its direct or indirect parent companies pursuant to any employee,
director, officer, manager, member, partner, independent contractor or consultant equity plan or stock option plan or any other employee, director, officer, manager, member, partner, independent contractor or consultant benefit plan or agreement, or
any equity subscription or equityholder agreement or any termination agreement (including, for the avoidance of doubt, any principal and interest payable on any Indebtedness issued by the Issuer or any direct or indirect parent company of the Issuer
in connection with such repurchase, retirement or other acquisition), including any Equity Interest received or rolled over by any future, present or former employees, directors, officers, managers, members, partners, independent contractors or
consultants of the Issuer, any of its Subsidiaries or any direct or indirect parent company of the Issuer in connection with any transaction (including the Equity Transactions); provided, that the aggregate amount of Restricted Payments made
under this clause (iv) does not exceed in any calendar year an amount equal to $25.0 million (with unused amounts in any calendar year being carried over to succeeding calendar years subject to a maximum (without giving effect to the
following proviso) of $50.0 million in any calendar year); provided, further that such amount in any calendar year under this clause may be increased by an amount not to exceed: 

(A) the cash proceeds from the sale of Equity Interests (other than Disqualified Stock and other than to a Restricted
Subsidiary) of the Issuer and, to the extent contributed to the Issuer or its Subsidiaries, the cash proceeds from the sale of Equity Interests of any of the Issuer’s direct or indirect parent companies, in each case to any future, present or
former employees, directors, officers, managers, members, partners, independent contractors or consultants (or their respective Controlled Investment Affiliates or Immediate Family Members) of the Issuer, any of its Subsidiaries or any of its direct
or indirect parent companies that occurs after the Issue Date, to the extent the cash proceeds from the sale of such Equity Interests have not otherwise been applied to the payment of Restricted Payments by virtue of clause (C) of
Section 4.07(a) hereof; plus 
 (B) the amount of any cash bonuses otherwise payable to future, present or former
employees, directors, officers, managers, members, partners, independent contractors or consultants (or their respective Controlled Investment Affiliates or Immediate Family Members) of the Issuer, any of its Subsidiaries or any of its direct or
indirect parent companies that are foregone in exchange for the receipt of Equity Interests of the Issuer or any of its direct or indirect parent companies pursuant to any compensation arrangement, including any deferred compensation plan;
plus 
 (C) the cash proceeds of key man life insurance policies received by the Issuer or its Restricted Subsidiaries
(or any direct or indirect parent company of the Issuer to the extent contributed to the Issuer or one of its Subsidiaries) after the Issue Date; less 

(D) the amount of any Restricted Payments previously made with the cash proceeds described in clauses (A), (B) and (C) of
this clause (iv); 
 provided, that the Issuer may elect to apply all or any portion of the aggregate increase contemplated by clauses
(A), (B) and (C) of this clause (iv) in any calendar year; 
 provided, further, that (i) cancellation of
Indebtedness owing to the Issuer or any Restricted Subsidiary from any future, present or former employees, directors, officers, managers, members, partners, independent contractors or consultants (or their respective Controlled Investment
Affiliates or Immediate Family Members) of the Issuer, any of the Issuer’s direct or indirect parent companies or any of the Issuer’s Restricted Subsidiaries in connection with a repurchase of Equity Interests of the Issuer or any of its
direct or 

  
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 indirect parent companies and (ii) the repurchase, redemption or other acquisition or
retirement for value of Equity Interests deemed to occur upon or in connection with the exercise of options, warrants or similar instruments if such Equity Interests represent all or a portion of the exercise price thereof or payments, in lieu of
the issuance of fractional Equity Interests or withholding to pay other taxes payable in connection therewith, in the case of each of clauses (i) and (ii), will not be deemed to constitute a Restricted Payment for purposes of this
Section 4.07 or any other provision of this Indenture; 
 (v) the declaration and payment of dividends or distributions
to holders of any class or series of Disqualified Stock of the Issuer or any of its Restricted Subsidiaries or any class or series of Preferred Stock of any Restricted Subsidiary issued in accordance with Section 4.09 hereof to the extent such
dividends or distributions are included in the definition of “Fixed Charges”; 
 (vi) (A) the
declaration and payment of dividends to holders of any class or series of Designated Preferred Stock (other than Disqualified Stock) issued by the Issuer after the Issue Date; 

(B) the declaration and payment of dividends to any direct or indirect parent company of the Issuer, the proceeds of which will
be used to fund the payment of dividends to holders of any class or series of Designated Preferred Stock (other than Disqualified Stock) issued by such parent company after the Issue Date; provided that the amount of dividends paid pursuant
to this clause (B) shall not exceed the aggregate amount of cash actually contributed to the Issuer from the sale of such Designated Preferred Stock; or 

(C) the declaration and payment of dividends on Refunding Capital Stock that is Preferred Stock in excess of the dividends
declarable and payable thereon pursuant to clause (ii) of this Section 4.07(b); 
 provided, in the case of
each of (A) and (C) of this clause (vi), that for the most recently ended four full fiscal quarters for which internal financial statements are available immediately preceding the date of issuance of such Designated Preferred Stock or the
declaration of such dividends on Refunding Capital Stock that is Preferred Stock, after giving effect to such issuance or declaration on a pro forma basis, the Issuer could incur $1.00 of additional Indebtedness pursuant to
Section 4.09(a) hereof; 
 (vii) Investments in Unrestricted Subsidiaries having an aggregate fair market value, taken
together with all other Investments made pursuant to this clause (vii) that are at the time outstanding, without giving effect to the sale of an Unrestricted Subsidiary to the extent the proceeds of such sale do not consist of Cash Equivalents
or marketable securities (until such proceeds are converted to Cash Equivalents), not to exceed the greater of (a) $65.0 million and (b) 20.0% of LTM EBITDA at the time of such Investment (in each case, determined on the date such
Investment is made, with the fair market value of each Investment being measured at the time made and without giving effect to subsequent changes in value), plus the amount of any returns (including dividends, payments, interest,
distributions, returns of principal, profits on sale, repayments, income and similar amounts) in respect of such Investments; provided, however, that if any Investment pursuant to this clause (vii) is made in any Person that is not a
Restricted Subsidiary of the Issuer at the date of the making of such Investment and such Person becomes a Restricted Subsidiary after such date, such Investment shall thereafter be deemed to have been made pursuant to clause (a) of the
definition of “Permitted Investments” and shall cease to have been made pursuant to this clause (vii); 
 (viii)
payments made or expected to be made by the Issuer or any Restricted Subsidiary in respect of withholding or similar taxes payable upon or in connection with the exercise or vesting of Equity Interests or any other equity award by any future,
present or former employee, director, officer, member of management or consultants (or their respective Controlled Investment Affiliates or Immediate Family Members) of the Issuer or any Restricted Subsidiary or any direct or indirect parent company
of the Issuer and any repurchases or withholdings of Equity Interests in connection with the exercise or vesting of stock options, warrants or the issuance of restricted stock units or similar equity-based awards or payments in lieu of the issuance
of fractional Equity Interests with respect to stock options, warrants, restricted stock units or similar equity-based awards; 

  
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 (ix) Restricted Payments in an amount not to exceed the sum of (A) up
to 6.0% per annum of the amount of Net Cash Proceeds from any Equity Offering received by or contributed to the Issuer or any of its Restricted Subsidiaries and (B) an aggregate amount per annum not to exceed 5.0% of Market Capitalization;

 (x) Restricted Payments that are made (a) in an amount that does not exceed the aggregate amount of Excluded
Contributions received following the Issue Date or (b) without duplication with clause (a), in an amount not to exceed the cash proceeds from a sale, conveyance, transfer or other disposition in respect of property or assets acquired after the
Issue Date, if the acquisition of such property or assets was financed with Excluded Contributions; 
 (xi) (A)
Restricted Payments in an aggregate amount taken together with all other Restricted Payments made pursuant to this clause (xi)(A) (in the case of Restricted Investments, at the time outstanding (without giving effect to the sale of an
Investment to the extent the proceeds of such sale do not consist of, or have not been converted to, Cash Equivalents)) not to exceed the greater of (a) $110.0 million and (b) 35.0% of LTM EBITDA at such time (in the case of a
Restricted Investment, determined on the date such Investment is made, with the fair market value of such Investment being measured at the time made and without giving effect to subsequent changes in value, plus the amount of any returns (including
dividends, payments, interest, distributions, returns of principal, profits on sale, repayments, income and similar amounts) in respect of such Investments); provided, however, that if any Restricted Payment pursuant to this clause
(xi)(A) consists of an Investment made in any Person that is not a Restricted Subsidiary of the Issuer at the date of the making of such Investment and such Person becomes a Restricted Subsidiary after such date, such Investment shall
thereafter be deemed to have been made pursuant to clause (a) of the definition of “Permitted Investments” and shall cease to have been made pursuant to this clause (xi)(A); and (B) any Restricted Payments, so long as, after
giving pro forma effect to the payment of any such Restricted Payment, the Consolidated Total Debt Ratio shall be no greater than 2.00 to 1.00; 

(xii) distributions or payments made directly or by means of discounts with respect to any participation interest issued or
sold in connection with, and other fees paid to a Person that is not the Issuer or a Restricted Subsidiary in connection with, any Securitization, Warehouse Facility or MSR Facility; 

(xiii) any Restricted Payments made (A) in connection with the offering of the Initial Notes as described in the Offering
Memorandum under “Use of Proceeds”, (B) pursuant to the terms of the limited liability company agreement of Finance of America Commercial Holdings LLC as in effect on the Issue Date, or any amendment, modification or replacement thereto
(so long as any such amendment, modification or replacement is not materially disadvantageous to the Holders) and (C) to acquire, or to finance the acquisition of, any Equity Interests in Finance of America Commercial Holdings LLC that are not
owned by the Issuer or its Restricted Subsidiaries on the Issue Date; 
 (xiv) the repurchase, redemption or other
acquisition or retirement for value of any Subordinated Indebtedness, Disqualified Stock or Preferred Stock pursuant to provisions similar to those described under Sections 4.10 and 4.14 hereof; provided that if the Issuer shall have been
required to make a Change of Control Offer or Asset Sale Offer, as applicable, to purchase the Notes on the terms provided in this Indenture applicable to Change of Control Offers or Asset Sale Offers, respectively, all Notes validly tendered by
Holders of such Notes in connection with a Change of Control Offer or Asset Sale Offer, as applicable, have been repurchased, redeemed, acquired or retired for value; 

(xv) the declaration and payment of dividends or distributions by the Issuer to, or the making of loans to, any direct or
indirect parent company of the Issuer or any other Restricted Payment in amounts required for any direct or indirect parent company of the Issuer to pay, in each case without duplication: 

(A) franchise, excise and similar taxes, and other fees and expenses, required to maintain its corporate or other legal
existence; 

  
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 (B) salary, bonus, severance, indemnity and other benefits payable to
future, present or former employees, directors, officers, managers, members, partners, independent contractors or consultants of any direct or indirect parent company of the Issuer to the extent such salaries, bonuses, severance, indemnity and other
benefits are attributable to the ownership or operation of the Issuer and its Restricted Subsidiaries; 
 (C) general
organizational, operating, administrative, compliance, overhead, insurance and other costs and expenses (including expenses related to auditing or other accounting or tax reporting matters), any costs, expenses and liabilities incurred in connection
with any litigation or arbitration attributable to the ownership or operations of the Issuer or its Restricted Subsidiaries, and Public Company Costs of any direct or indirect parent company of the Issuer; 

(D) fees and expenses related to any equity or debt offering, financing transaction, acquisition, divestiture, investment or
other non-ordinary course transaction (whether or not successful) of such parent entity; provided that any such transaction was in the good faith judgment of the Issuer intended to be for the benefit of
the Issuer and its Restricted Subsidiaries; 
 (E) [reserved]; 

(F) (i) cash payments in lieu of issuing fractional shares or interests in connection with the exercise of warrants,
options, other equity-based awards or other securities convertible into or exchangeable for Equity Interests of the Issuer or any direct or indirect parent company of the Issuer and any dividend, split or combination thereof or any transaction
permitted under this Indenture and (ii) any conversion request by a holder of convertible Indebtedness and cash payments in lieu of fractional shares or interests in connection with any such conversion and payments on convertible Indebtedness
in accordance with its terms; 
 (G) to finance Investments that would otherwise be permitted to be made pursuant to this
Section 4.07 if made by the Issuer or its Restricted Subsidiaries; provided, that (1) such Restricted Payment shall be made within 120 days of the closing of such Investment, (2) such direct or indirect parent company shall,
promptly following the closing thereof, cause (x) all property acquired (whether assets or Equity Interests) to be contributed to the capital of the Issuer or its Restricted Subsidiaries or (y) the merger, consolidation or amalgamation of
the Person formed or acquired into the Issuer or its Restricted Subsidiaries (to the extent not prohibited by Section 5.01 hereof) in order to consummate such Investment, (3) any property received by the Issuer or its Restricted
Subsidiaries shall not increase amounts available for Restricted Payments pursuant to clause (C) of Section 4.07(a) hereof and (5) such Investment shall be deemed to be made by the Issuer or such Restricted Subsidiary pursuant to
another provision of this Section 4.07(b) (other than pursuant to clause (x) hereof) or pursuant to the definition of “Permitted Investments” (other than clause (i) thereof); 

(H) amounts that would be permitted to be paid by the Issuer or its Restricted Subsidiaries under clauses (iii), (iv), (viii),
(ix), (xiii) and (xiv) of Section 4.11(b) hereof; provided that the amount of any dividend or distribution under this clause (xv)(H) to permit such payment shall reduce, without duplication, Consolidated Net Income of the Issuer to
the extent, if any, that such payment would have reduced Consolidated Net Income of the Issuer if such payment had been made directly by the Issuer and increase (or, without duplication of any reduction of Consolidated Net Income, decrease) EBITDA
to the extent, if any, that Consolidated Net Income is reduced under this clause (xv)(H) and such payment would have been added back to (or, to the extent excluded from Consolidated Net Income, would have been deducted from) EBITDA if such payment
had been made directly by the Issuer, in each case, in the period such payment is made; 
 (I) amounts in respect of
Indebtedness of such direct or indirect parent company of the Issuer which is guaranteed by the Issuer or a Restricted Subsidiary; and 

(J) amounts in respect of the Tax Receivable Agreements; 

  
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 (xvi) the distribution, by dividend or otherwise, of Capital Stock of an
Unrestricted Subsidiary (or a Restricted Subsidiary that owns one or more Unrestricted Subsidiaries and no other material assets), or Indebtedness owed to the Issuer or a Restricted Subsidiary by an Unrestricted Subsidiary (or a Restricted
Subsidiary that owns one or more Unrestricted Subsidiaries and no other material assets), in each case, other than Unrestricted Subsidiaries the primary assets of which are Cash Equivalents; 

(xvii) mandatory redemptions of Disqualified Stock issued as a Restricted Payment or as consideration for a Permitted
Investment so long as the amount of such redemptions are no greater than the amount that constituted such Restricted Payment or Permitted Investment; 

(xviii) payments or distributions to dissenting stockholders pursuant to applicable law (including in connection with, or as a
result of, exercise of appraisal rights and the settlement of any claims or action (whether actual, contingent or potential)), pursuant to or in connection with any Permitted Investment or a consolidation, merger or transfer of assets that complies
with, or is not prohibited by Section 5.01 hereof; 
 (xix) the repurchase, redemption or other acquisition of Equity
Interests of the Issuer or any Restricted Subsidiary deemed to occur in connection with paying cash in lieu of fractional shares of such Equity Interests in connection with a share dividend, distribution, share split, reverse share split, merger,
consolidation, amalgamation or other business combination of the Issuer or any Restricted Subsidiary, in each case, permitted under this Indenture; and 

(xx) payments by the Issuer to any direct or indirect parent of the Issuer (a) for any taxable period in which the Issuer
and/or any of its Subsidiaries is a member of (or disregarded as an entity separate from a member of) a consolidated, combined or similar foreign, federal, state or local income or similar tax group whose common parent is a direct or indirect parent
of the Issuer, to pay the portion of such foreign, federal, state and/or local income or similar Taxes (as applicable) of such tax group that are attributable to the Issuer and/or its Restricted Subsidiaries and, to the extent of any cash amounts
actually received from its Unrestricted Subsidiaries; provided that in each case the amount of such payments in respect of any taxable year does not exceed the amount that the Issuer and/or its applicable Restricted Subsidiaries (and, to the
extent permitted above, its applicable Unrestricted Subsidiaries), as applicable, would have been required to pay in respect of the relevant foreign, federal, state or local income or similar Taxes for such taxable year had the Issuer and/or its
applicable Subsidiaries (including its Unrestricted Subsidiaries to the extent described above), as applicable, paid such Taxes separately from any such parent company and (b) with respect to any taxable period for which the Issuer is a
disregarded entity or partnership for U.S. federal income tax purposes, in the form of permitted tax distributions to the direct or indirect owners of the Issuer (as applicable) which shall be equal to the product of (X) the allocable taxable
income of the Issuer for such taxable period (determined, for any taxable period for which the Issuer is a disregarded entity, as if the Issuer were a partnership) (calculated without regard to any adjustments pursuant to Section 743 or 734 of
the Code or any deductions attributable to payments under the UFG Holdings LLC Management Long-Term Incentive Plan (as may be amended) that are funded by the direct or indirect owners of the Issuer) and (Y) the highest effective marginal
combined U.S. federal, state and local income tax rate applicable to an individual (or, if greater, a corporation) resident in California or New York, New York (whichever tax rate is higher) for such taxable period (taking into account the
deductibility of state and local income taxes for U.S. federal income tax purposes (if applicable, and taking into account any limitations thereon) and the character (long-term capital gain, qualified dividend income,
tax-exempt income, etc.) of the current period taxable income); provided that any such distributions shall be made on a pro rata basis; 

provided that at the time of, and after giving effect to, (x) any Restricted Payment other than a Restricted Investment permitted under clause
(xi)(B) of this Section 4.07(b), no Event of Default shall have occurred and be continuing or would occur as a consequence thereof or (y) any Restricted Investment permitted under clause (xi)(B) of this Section 4.07(b), no Event of
Default under Section 6.01(a)(i), (ii), (vi) or (vii) hereof shall have occurred and be continuing or would occur as a consequence thereof. 

  
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 (c) For purposes of determining compliance with this Section 4.07, in the event that a
proposed Restricted Payment (or a portion thereof) meets the criteria of clauses (i) through (xx) of Section 4.07(b) hereof and/or one or more of the clauses contained in the definition of “Permitted Investments,” or is entitled
to be made pursuant to Section 4.07(a) hereof, the Issuer will be entitled to divide or classify or later divide or reclassify (based on circumstances existing on the date of such reclassification) such Restricted Payment (or a portion thereof)
between such clauses (i) through (xx) and such Section 4.07(a) and/or one or more of the clauses contained in the definition of “Permitted Investments,” in any manner that otherwise complies with this Section 4.07. 

(d) The Issuer shall not permit any Unrestricted Subsidiary to become a Restricted Subsidiary except pursuant to the penultimate sentence of
the definition of “Unrestricted Subsidiary.” For purposes of designating any Restricted Subsidiary as an Unrestricted Subsidiary, all outstanding Investments by the Issuer and its Restricted Subsidiaries (except to the extent
repaid) in the Subsidiary so designated shall be deemed to be Restricted Payments in an amount determined as set forth in the penultimate sentence of the definition of “Investments.” Such designation shall be permitted only if a
Restricted Payment in such amount would be permitted at such time, pursuant to this Section 4.07, or pursuant to the definition of “Permitted Investments,” and if such Subsidiary otherwise meets the definition of an
Unrestricted Subsidiary. Unrestricted Subsidiaries shall not be subject to any of the restrictive covenants set forth in this Indenture. For the avoidance of doubt, this Section 4.07 shall not restrict the making of any “AHYDO catch up
payment” with respect to, and required by the terms of, any Indebtedness of the Issuer or any of its Restricted Subsidiaries permitted to be incurred under the terms of this Indenture. 

Section 4.08. Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries. 

(a) The Issuer shall not, and shall not permit any of its Restricted Subsidiaries that is not a Subsidiary Guarantor to, directly or
indirectly, create or otherwise cause or suffer to exist or become effective any consensual encumbrance or consensual restriction on the ability of any Restricted Subsidiary that is not a Subsidiary Guarantor to: 

(i) (A) pay dividends or make any other distributions to the Issuer or any Subsidiary Guarantor on its Capital Stock or
with respect to any other interest or participation in, or measured by, its profits; or 
 (B) pay any Indebtedness owed to
the Issuer or any Subsidiary Guarantor; 
 (ii) make loans or advances to the Issuer or any Subsidiary Guarantor; or 

(iii) sell, lease or transfer any of its properties or assets to the Issuer or any Subsidiary Guarantor; 

(b) The restrictions in Section 4.08(a) hereof shall not apply to encumbrances or restrictions existing under or by reason of: 

(i) encumbrances or restrictions in effect on the Issue Date or those to be in effect as of the closing date of the Equity
Transactions, including pursuant to the Existing Facilities and the related documentation and Hedging Obligations; 
 (ii)
this Indenture, the Notes and the Guarantees; 
 (iii) Purchase Money Obligations and Financing Lease Obligations that impose
restrictions of the nature discussed in clause (iii) of Section 4.08(a) hereof on the property so purchased, leased, expanded, constructed, developed, installed, replaced, relocated, renewed, maintained, upgraded, repaired or improved;

 (iv) applicable law or any applicable rule, regulation or order; 

(v) (A) in the case of the redesignation of an Unrestricted Subsidiary as a Restricted Subsidiary or the merger,
amalgamation or consolidation of an Unrestricted Subsidiary into the Issuer or a Restricted Subsidiary or the transfer of all or substantially all of the assets of an Unrestricted Subsidiary to the Issuer or a Restricted Subsidiary, any agreement or
other instrument of such Unrestricted Subsidiary (but, 

  
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 in any such case, not created in contemplation thereof) and (B) any agreement or other
instrument of a Person acquired by or merged or consolidated with or into the Issuer or any of its Restricted Subsidiaries in existence at the time of such acquisition or at the time it merges with or into the Issuer or any of its Restricted
Subsidiaries or assumed in connection with the acquisition of assets from such Person (but, in any such case, not created in contemplation thereof), which encumbrance or restriction is not applicable to any Person, or the properties or assets of any
Person, other than the Person so acquired and its Subsidiaries, or the property or assets of the Person so acquired and its Subsidiaries or the property or assets so acquired; 

(vi) contracts for the sale or disposition of assets, including sale-leaseback agreements, including customary restrictions
with respect to a Subsidiary of the Issuer pursuant to an agreement that has been entered into for the sale or disposition of any of the Capital Stock or assets of such Subsidiary; 

(vii) Secured Indebtedness otherwise permitted to be incurred pursuant to Sections 4.09 and 4.12 hereof that limit the right of
the debtor to dispose of or incur Liens on the assets securing such Indebtedness; 
 (viii) restrictions on Cash Equivalents
or other deposits or net worth imposed by suppliers, customers or landlords under contracts entered into in the ordinary course of business or consistent with past practice or arising in connection with any Permitted Liens; 

(ix) other Indebtedness, Disqualified Stock or Preferred Stock of Restricted Subsidiaries that are not Subsidiary Guarantors
permitted to be incurred subsequent to the Issue Date pursuant to the provisions of Section 4.09 hereof; 
 (x)
customary provisions in joint venture agreements and other similar agreements or arrangements relating to such joint venture; 

(xi) provisions contained in leases, sub-leases, licenses, sub-licenses or similar agreements, including with respect to intellectual property and other agreements, in each case, entered into in the ordinary course of business, consistent with past practice or consistent
with industry practices or that in the judgment of the Issuer would not materially impair the Issuer’s ability to make payments under the Notes when due; 

(xii) restrictions or conditions contained in any trading, netting, operating, construction, service, supply, purchase, sale or
other agreement to which the Issuer or any of its Restricted Subsidiaries is a party entered into in the ordinary course of business or consistent with past practice; provided that such agreement prohibits the encumbrance of solely the
property or assets of the Issuer or such Restricted Subsidiary that are the subject to such agreement, the payment rights arising thereunder or the proceeds thereof and does not extend to any other asset or property of the Issuer or such Restricted
Subsidiary or the assets or property of another Restricted Subsidiary; 
 (xiii) customary provisions restricting subletting
or assignment of any lease governing a leasehold interest of any Restricted Subsidiary or the assignment of any license or sub-license agreement; 

(xiv) provisions restricting assignment of any agreement entered into in the ordinary course of business or consistent with
past practice; 
 (xv) restrictions arising in connection with cash or other deposits permitted under Section 4.12
hereof; 
 (xvi) any agreement or instrument relating to any Indebtedness, Disqualified or Preferred Stock permitted to be
incurred, assumed or issued subsequent to the Issue Date pursuant to Section 4.09 hereof if either (A) the encumbrances and restrictions are not materially more disadvantageous, taken as a whole, to the Holders than is customary in
comparable financings for similarly situated issuers (as determined in good faith by the Issuer), (B) the encumbrances and restrictions are not materially more restrictive, taken as 

  
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 whole, with respect to such Restricted Subsidiaries, than the restrictions or encumbrances
(x) contained in this Indenture, the Existing Facilities or related security documents as of the Issue Date or (y) otherwise in effect on the Issue Date or (C) either (x) the Issuer determines that such encumbrance or restriction will
not materially impair the Issuer’s ability to make principal and interest payments on the Notes as and when they come due or (y) such encumbrances and restrictions apply only during the continuance of a default in respect of a payment or
financial maintenance covenant relating to such Indebtedness; 
 (xvii) the requirements of any Securitization, Warehouse
Facility or MSR Facility that are exclusively applicable to any Securitization Entity, Warehouse Facility Trust, MSR Facility Trust or special purpose Subsidiary of the Issuer formed in connection therewith; 

(xviii) provisions in agreements evidencing Permitted Funding Indebtedness that impose restrictions on the collateral securing
such Indebtedness or that provide for financial covenants, limitation on affiliate transactions, the transfer of all or substantially all assets, other fundamental changes or other limitations which, in each case as determined in good faith by the
Issuer, are customary or consistent with past practice or industry practice or will not materially affect the ability of the Issuer to pay the principal, interest and premium, if any, on the Notes; and 

(xix) any encumbrances or restrictions of the type referred to in clauses (i), (ii) and (iii) of Section 4.08(a)
hereof imposed by any amendments, modifications, restatements, renewals, increases, supplements, refundings, replacements or refinancings of the contracts, instruments or obligations referred to in clauses (i) through (xviii) of this
Section 4.08(b); provided that such amendments, modifications, restatements, renewals, increases, supplements, refundings, replacements or refinancings are, in the good faith judgment of the Issuer, not materially more restrictive with
respect to such encumbrance and other restrictions taken as a whole than those prior to such amendment, modification, restatement, renewal, increase, supplement, refunding, replacement or refinancing. 

For purposes of determining compliance with this Section 4.08, (x) the priority of any Preferred Stock in receiving dividends or
liquidating distributions prior to dividends or liquidating distributions being paid on common equity shall not be deemed a restriction on the ability to make distributions on Capital Stock and (y) the subordination of (including the
application of any standstill requirements to) loans and advances made to the Issuer or a Restricted Subsidiary to other Indebtedness incurred by the Issuer or such Restricted Subsidiary shall not be deemed a restriction on the ability to make loans
or advances. 
 Section 4.09. Limitation on Incurrence of Indebtedness and Issuance of Disqualified Stock and
Preferred Stock. 
 (a) The Issuer shall not, and shall not permit any of its Restricted Subsidiaries to, directly or indirectly, create,
incur, issue, assume, guarantee or otherwise become directly or indirectly liable, contingently or otherwise (collectively, “incur” and collectively, an “incurrence”) with respect to any Indebtedness (including
Acquired Indebtedness) and the Issuer shall not issue any shares of Disqualified Stock and shall not permit any Restricted Subsidiary to issue any shares of Disqualified Stock or any Restricted Subsidiary that is not a Subsidiary Guarantor to issue
Preferred Stock; provided, that the Issuer may incur Indebtedness (including Acquired Indebtedness) or issue shares of Disqualified Stock, and any Restricted Subsidiary may incur Indebtedness (including Acquired Indebtedness) and issue shares
of Disqualified Stock and any Restricted Subsidiary that is not a Subsidiary Guarantor may issue shares of Preferred Stock, if the Fixed Charge Coverage Ratio on a consolidated basis of the Issuer and its Restricted Subsidiaries for the most
recently ended four fiscal quarters for which internal financial statements are available immediately preceding the date on which such additional Indebtedness is incurred or such Disqualified Stock or Preferred Stock is issued would have been at
least 2.00 to 1.00, determined on a pro forma basis (including a pro forma application of the net proceeds therefrom), as if the additional Indebtedness had been incurred, or the Disqualified Stock or Preferred Stock had been issued, as the case may
be, and the application of proceeds therefrom had occurred at the beginning of such four-quarter period. 

  
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 (b) The provisions of Section 4.09(a) hereof shall not apply to: 

(i) Indebtedness incurred pursuant to any Credit Facilities by the Issuer or any Restricted Subsidiary and the issuance and
creation of letters of credit and bankers’ acceptances thereunder (with letters of credit and bankers’ acceptances being deemed to have a principal amount equal to the face amount thereof); provided that immediately after giving
effect to any such incurrence or issuance (including pro forma application of the net proceeds therefrom), the then outstanding aggregate principal amount of all Indebtedness incurred or issued under this clause (i) does not exceed the greater
of $175.0 million and 65.0% of LTM EBITDA; 
 (ii) the incurrence by the Issuer and any Subsidiary Guarantor of
Indebtedness represented by the Notes and the Guarantees (but excluding any Additional Notes and any guarantees thereof); 

(iii) Indebtedness, Disqualified Stock and Preferred Stock of the Issuer and its Restricted Subsidiaries in existence on the
Issue Date (other than Indebtedness described in clauses (ii) and (ix) of this Section 4.09(b)); 
 (iv)
Indebtedness (including Financing Lease Obligations and Purchase Money Obligations), Disqualified Stock and Preferred Stock incurred or issued by the Issuer or any of its Restricted Subsidiaries to finance the purchase, lease, expansion,
construction, development, installation, replacement, relocation, renewal, maintenance, upgrade, repair or improvement of property (real or personal), equipment or any other asset (including, without limitation, Securitization Assets and assets that
consist of Servicing Advances, MSRs, mortgages and crop, student, consumer or other loans, mortgage-related securities and derivatives, other mortgage-related receivables, REO Assets, Residual Assets and other similar assets (or any interest in any
of the foregoing)), whether through the direct purchase of assets or the Capital Stock of any Person owning such assets; provided that (A) the Liens securing such Indebtedness may not extend to any other property owned by the Issuer or
its Restricted Subsidiaries at the time the Lien is incurred and the Indebtedness secured by the Lien may not be incurred more than 365 days after the latter of the acquisition or completion of the construction of the property subject to the Lien
and (B) the amount of such Indebtedness does not exceed the Fair Market Value of the assets developed, constructed, purchased, leased, repaired, maintained, expanded, replaced, upgraded, installed or improved with the proceeds of such
Indebtedness; it being understood that any Indebtedness, Disqualified Stock or Preferred Stock incurred pursuant to this clause (iv) shall cease to be deemed incurred or outstanding for purposes of this clause (iv) but shall be deemed
incurred for the purposes of the first paragraph of this covenant from and after the first date on which the Issuer or such Restricted Subsidiary could have incurred such Indebtedness, Disqualified Stock or Preferred Stock under the first paragraph
of this covenant without reliance on this clause (iv); 
 (v) Indebtedness incurred by the Issuer or any of its Restricted
Subsidiaries constituting reimbursement obligations with respect to letters of credit, bank guarantees, banker’s acceptances, warehouse receipts, or similar instruments issued or created, or relating to obligations or liabilities incurred, in
the ordinary course of business or consistent with past practice, including letters of credit in favor of suppliers, customers or trade creditors or in respect of workers’ compensation claims, performance or surety bonds, health, disability or
other employee benefits or property, casualty or liability insurance or self-insurance or other Indebtedness with respect to reimbursement type obligations regarding workers’ compensation claims, performance or surety bonds, health, disability
or other employee benefits or property, casualty or liability insurance or self-insurance; 
 (vi) Indebtedness, Disqualified
Stock and Preferred Stock arising from (A) Permitted Intercompany Activities and (B) agreements of the Issuer or its Restricted Subsidiaries providing for indemnification, adjustment of purchase price, earn-outs (including contingent
earn-outs) or similar obligations, payment obligations in respect of any non-compete, consulting or similar arrangement or progress payments for property or services or other similar adjustments, in each case,
incurred or assumed in connection with the acquisition or disposition of any business, assets, a Subsidiary or Investment, and Indebtedness arising from guarantees, letters of credit, bank guarantees, surety bonds, performance bonds or similar
instruments securing performance of the Issuer or any Subsidiary pursuant to such agreements; 

  
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 (vii) Indebtedness, Disqualified Stock and Preferred Stock of the Issuer to
a Restricted Subsidiary; provided that any such Indebtedness, Disqualified Stock or Preferred Stock owing to a Restricted Subsidiary that is not a Subsidiary Guarantor, excluding any Indebtedness, Disqualified Stock or Preferred Stock
incurred or issued in the ordinary course of business or consistent with past practice, is subordinated in right of payment (to the extent permitted by applicable law) to the Notes (for the avoidance of doubt, any such Indebtedness, Disqualified
Stock or Preferred Stock owing to a Restricted Subsidiary that is not a Subsidiary Guarantor shall be deemed to be expressly subordinated in right of payment to the Notes unless the terms of such Indebtedness, Disqualified Stock or Preferred Stock
expressly provide otherwise); provided, further, that any subsequent issuance or transfer of any Capital Stock or any other event which results in any such Restricted Subsidiary ceasing to be a Restricted Subsidiary or any other subsequent
transfer of any such Indebtedness, Disqualified Stock or Preferred Stock (except to the Issuer or another Restricted Subsidiary or any pledge of such Indebtedness, Disqualified Stock or Preferred Stock constituting a Permitted Lien) shall be deemed,
in each case, to be an incurrence of such Indebtedness, Disqualified Stock or Preferred Stock (to the extent such Indebtedness, Disqualified Stock or Preferred Stock is then outstanding) not permitted by this clause (vii); 

(viii) Indebtedness, Disqualified Stock and Preferred Stock of a Restricted Subsidiary to the Issuer or another Restricted
Subsidiary; provided that if a Subsidiary Guarantor incurs such Indebtedness, Disqualified Stock or Preferred Stock to a Restricted Subsidiary that is not a Subsidiary Guarantor, excluding any Indebtedness, Disqualified Stock or Preferred
Stock incurred or issued in the ordinary course of business or consistent with past practice, such Indebtedness, Disqualified Stock or Preferred Stock is subordinated in right of payment (to the extent permitted by applicable law) to the Notes or
the Guarantee of the Notes by such Subsidiary Guarantor, as applicable (for the avoidance of doubt, any such Indebtedness, Disqualified Stock or Preferred Stock owing to a Restricted Subsidiary that is not a Subsidiary Guarantor shall be deemed to
be expressly subordinated in right of payment to the Notes or the Guarantee of the Notes by such Subsidiary Guarantor, as applicable, unless the terms of such Indebtedness, Disqualified Stock or Preferred Stock expressly provide otherwise);
provided, further, that any subsequent issuance or transfer of any Capital Stock or any other event which results in any such Restricted Subsidiary ceasing to be a Restricted Subsidiary or any subsequent transfer of any such Indebtedness,
Disqualified Stock or Preferred Stock (except to the Issuer or another Restricted Subsidiary or any pledge of such Indebtedness, Disqualified Stock or Preferred Stock constituting a Permitted Lien) shall be deemed, in each case, to be an incurrence
of such Indebtedness, Disqualified Stock or Preferred Stock (to the extent such Indebtedness, Disqualified Stock or Preferred Stock is then outstanding) not permitted by this clause (viii); 

(ix) Indebtedness incurred pursuant to the Existing Facilities in an aggregate principal amount at any time outstanding not to
exceed the maximum amount available under the terms of each Existing Facility as in effect on the Issue Date; 
 (x) Hedging
Obligations (excluding Hedging Obligations entered into for speculative purposes); 
 (xi) obligations in respect of
self-insurance and obligations in respect of stays, customs, performance, bid, indemnity, appeal, judgment, surety and other similar bonds or instruments and performance, bankers’ acceptance and completion guarantees and similar obligations
provided by the Issuer or any of its Restricted Subsidiaries or obligations in respect of letters of credit, bank guarantees or similar instruments related thereto, in each case in the ordinary course of business or consistent with past practice;

 (xii) (A) Indebtedness or Disqualified Stock of the Issuer and Indebtedness, Disqualified Stock or Preferred Stock of
any Restricted Subsidiary in an aggregate principal amount or liquidation preference up to 100.0% of the Net Cash Proceeds received by the Issuer or its Restricted Subsidiaries after the Issue Date from the issue or sale of Equity Interests of the
Issuer or contributed to the capital of the Issuer (in each case, other than Excluded Contributions, proceeds of Disqualified Stock or sales of Equity Interests to the Issuer or any of its Subsidiaries) as determined in accordance with clauses
(C)(2) and (C)(3) of Section 4.07(a) hereof to the extent such Net Cash Proceeds have not been applied pursuant to such clauses to make Restricted Payments pursuant to Section 4.07(a) hereof or to make Permitted Investments specified in
clauses (h), (k), (m), (bb) or (cc) of the definition thereof, and (B) Indebtedness or Disqualified Stock of the 

  
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 Issuer and Indebtedness, Disqualified Stock or Preferred Stock of any Restricted Subsidiary
in an aggregate principal amount or liquidation preference, which, when aggregated with the principal amount and liquidation preference of all other Indebtedness, Disqualified Stock and Preferred Stock then outstanding and incurred pursuant to this
clause (xii)(B), does not at any time outstanding exceed the greater of (x) $125.0 million and (y) 40.0% of LTM EBITDA (in each case, determined on the date of such incurrence); it being understood that any Indebtedness, Disqualified Stock or
Preferred Stock incurred pursuant to this clause (xii)(B) shall cease to be deemed incurred or outstanding for purposes of this clause (xii)(B) but shall be deemed incurred for the purposes of Section 4.09(a) hereof from and after the first
date on which the Issuer or such Restricted Subsidiary could have incurred such Indebtedness, Disqualified Stock or Preferred Stock under Section 4.09(a) hereof without reliance on this clause (xii)(B); 

(xiii) the incurrence or issuance by the Issuer or any Restricted Subsidiary of Indebtedness, Disqualified Stock or Preferred
Stock which serves to extend, replace, refund, refinance, renew or defease any Indebtedness (or unutilized commitment in respect of Indebtedness), Disqualified Stock or Preferred Stock incurred or issued as permitted under Section 4.09(a)
hereof and clauses (ii), (iii), (iv), (ix) and (xii)(A) of this Section 4.09(b), this clause (xiii) and clauses (xiv) and (xxxiii) of this Section 4.09(b) or any Indebtedness, Disqualified Stock or Preferred Stock incurred or
issued to so extend, replace, refund, refinance, renew or defease such Indebtedness (or unutilized commitment in respect of Indebtedness), Disqualified Stock or Preferred Stock, including, in each case, additional Indebtedness, Disqualified Stock or
Preferred Stock incurred to pay premiums (including tender premiums), defeasance costs, accrued interest or dividends, underwriting or initial purchaser discounts, fees, costs and expenses (including original issue discount, upfront fees or similar
fees) in connection therewith and Indebtedness incurred pursuant to a commitment that refinances any Indebtedness or unutilized commitment (the “Refinancing Indebtedness”) prior to its respective maturity; provided that such
Refinancing Indebtedness: 
 (A) other than in the case of Refinancing Indebtedness of Indebtedness (or unutilized
commitments in respect of Indebtedness), Disqualified Stock or Preferred Stock incurred or issued as permitted under clauses (iv) and (xii)(A) above and Customary Bridge Loans, has a Weighted Average Life to Maturity at the time such
Refinancing Indebtedness is incurred which is not less than the remaining Weighted Average Life to Maturity of the Indebtedness, Disqualified Stock or Preferred Stock being extended, replaced, refunded, refinanced, renewed or defeased (or requires
no or nominal payments in cash (other than interest payments) prior to the date that is 91 days after the maturity date of the Notes); 

(B) to the extent such Refinancing Indebtedness extends, replaces, refunds, refinances, renews or defeases
(i) Indebtedness subordinated in right of payment to the Notes or any Guarantee thereof, such Refinancing Indebtedness is subordinated in right of payment to the Notes or the Guarantee thereof at least to the same extent as the Indebtedness
being extended, replaced, refunded, refinanced, renewed or defeased or (ii) Disqualified Stock or Preferred Stock, such Refinancing Indebtedness must be Disqualified Stock or Preferred Stock, respectively; and 

(C) shall not include: 

(1) Indebtedness, Disqualified Stock or Preferred Stock of a Subsidiary of the Issuer that is not a Subsidiary Guarantor that
refinances Indebtedness, Disqualified Stock or Preferred Stock of the Issuer; 
 (2) Indebtedness, Disqualified Stock or
Preferred Stock of a Subsidiary of the Issuer that is not a Subsidiary Guarantor that refinances Indebtedness, Disqualified Stock or Preferred Stock of a Subsidiary Guarantor; or 

(3) Indebtedness or Disqualified Stock of the Issuer or Indebtedness, Disqualified Stock or Preferred Stock of a Restricted
Subsidiary that refinances Indebtedness, Disqualified Stock or Preferred Stock of an Unrestricted Subsidiary; 

  
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 provided further that subclause (A) of this clause (xiii) will not
apply to any extension, replacement, refunding, refinancing, renewal or defeasance of any Credit Facilities or Secured Indebtedness; 

(xiv) (A) Indebtedness, Disqualified Stock or Preferred Stock of the Issuer or a Restricted Subsidiary incurred or issued
to finance an acquisition (or other purchase of assets) or (B) Indebtedness, Disqualified Stock or Preferred Stock of Persons that are acquired by the Issuer or any Restricted Subsidiary or merged into or consolidated or amalgamated with the
Issuer or a Restricted Subsidiary in accordance with the terms of this Indenture; provided, that in the case of clauses (A) and (B), after giving effect to such acquisition, merger, amalgamation or consolidation, (1) the aggregate
amount of such Indebtedness, Disqualified Stock or Preferred Stock incurred under this subclause (1), together with any Refinancing Indebtedness in respect thereof, does not exceed the greater of (i) $65.0 million and (ii) 20.0% of
LTM EBITDA at any time outstanding (it being understood that any Indebtedness, Disqualified Stock or Preferred Stock incurred pursuant to this subclause (1) shall cease to be deemed incurred or outstanding for purposes of this subclause
(1) but shall be deemed incurred for the purposes of the first paragraph of this covenant from and after the first date on which the Issuer or such Restricted Subsidiary could have incurred such Indebtedness, Disqualified Stock or Preferred
Stock under the first paragraph of this covenant without reliance on this subclause (1)) or (2) either (x) the Issuer would be permitted to incur at least $1.00 of additional Indebtedness, Disqualified Stock or Preferred Stock
pursuant to the Fixed Charge Coverage Ratio test set forth in the first paragraph of this covenant or (y) the Fixed Charge Coverage Ratio for the Issuer and its Restricted Subsidiaries is equal to or greater than immediately prior to such
acquisition, merger, amalgamation or consolidation; 
 (xv) Indebtedness arising from the honoring by a bank or other
financial institution of a check, draft or similar instrument drawn against insufficient funds in the ordinary course of business or consistent with past practice; 

(xvi) Indebtedness of the Issuer or any of its Restricted Subsidiaries supported by a letter of credit issued pursuant to any
Credit Facilities, in a principal amount not in excess of the stated amount of such letter of credit; 
 (xvii) (A) any
guarantee or co-issuance by the Issuer or a Restricted Subsidiary of Indebtedness or other obligations of any Restricted Subsidiary so long as the incurrence of such Indebtedness or other obligations by such
Restricted Subsidiary is permitted under the terms of this Indenture; or 
 (B) any guarantee or co-issuance by a Restricted Subsidiary of Indebtedness or other obligations of the Issuer so long as the incurrence of such Indebtedness or other obligations by the Issuer is permitted under the terms of this
Indenture; 
 (xviii) (A) Indebtedness, Disqualified Stock or Preferred Stock consisting of Indebtedness, Disqualified
Stock or Preferred Stock issued by the Issuer or any of its Restricted Subsidiaries to future, present or former employees, directors, officers, managers, members, partners, independent contractors or consultants thereof, their respective Controlled
Investment Affiliates or Immediate Family Members, in each case to finance the purchase or redemption of Equity Interests of the Issuer or any direct or indirect parent company of the Issuer to the extent described in clause (iv) of
Section 4.07(b) hereof, and (B) Indebtedness representing deferred compensation or similar arrangements (1) to any future, present or former employees, directors, officers, managers, members, partners, independent contractors or
consultants of the Issuer (or any direct or indirect parent thereof) or any of its Restricted Subsidiaries incurred in the ordinary course of business or consistent with past practice or (2) incurred in connection with any Investment,
acquisition (by merger, consolidation, amalgamation or otherwise) or other transaction; 
 (xix) to the extent constituting
Indebtedness, customer deposits and advance payments (including progress premiums) received in the ordinary course of business or consistent with past practice from customers for goods and services purchased in the ordinary course of business or
consistent with past practice; 

  
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 (xx) (A) Indebtedness owed on a short-term basis to banks and other
financial institutions incurred in the ordinary course of business or consistent with past practice of the Issuer and its Restricted Subsidiaries with such banks or financial institutions that arises in connection with ordinary banking arrangements
to manage cash balances of the Issuer and its Restricted Subsidiaries and (B) Indebtedness in respect of Bank Products; 

(xxi) Indebtedness incurred by the Issuer or a Restricted Subsidiary in connection with bankers’ acceptances, discounted
bills of exchange or the discounting or factoring of receivables or payables for credit management purposes, in each case incurred or undertaken consistent with past practice or in the ordinary course of business; 

(xxii) Indebtedness of the Issuer or any of its Restricted Subsidiaries consisting of (A) the financing of insurance
premiums or (B) take-or-pay obligations contained in supply arrangements or (C) obligations to reacquire assets or inventory in connection with customer
financing arrangements, in each case incurred in the ordinary course of business or consistent with past practice; 
 (xxiii)
the incurrence of Indebtedness, Disqualified Stock or Preferred Stock of Restricted Subsidiaries of the Issuer that are not Subsidiary Guarantors in an aggregate principal amount or liquidation preference, which, when aggregated with the principal
amount and liquidation preference of all other Indebtedness, Disqualified Stock and Preferred Stock then outstanding and incurred pursuant to this clause (xxiii), does not at any time outstanding exceed the greater of
(a) $110.0 million and (b) 35.0% of LTM EBITDA (in each case, determined on the date of such incurrence); it being understood that any Indebtedness, Disqualified Stock or Preferred Stock incurred pursuant to this clause
(xxiii) shall cease to be deemed incurred or outstanding for purposes of this clause (xxiii) but shall be deemed incurred for the purposes of Section 4.09(a) hereof from and after the first date on which the Issuer or its Restricted
Subsidiaries could have incurred such Indebtedness, Disqualified Stock or Preferred Stock under Section 4.09(a) hereof without reliance on this clause (xxiii); 

(xxiv) Indebtedness of the Issuer or any of its Restricted Subsidiaries undertaken in connection with cash management and
related activities with respect to any Subsidiary or joint venture in the ordinary course of business or consistent with past practice; 

(xxv) [reserved]; 

(xxvi) Indebtedness, Disqualified Stock or Preferred Stock incurred by the Issuer or any of its Restricted Subsidiaries to the
extent that the net proceeds thereof are deposited with the Trustee at or promptly after the funding of such Indebtedness, Disqualified Stock or Preferred Stock to satisfy and discharge the Notes or exercise the Issuer’s legal defeasance or
covenant defeasance option as described under Article 8, in each case, in accordance with this Indenture; 
 (xxvii) (A)
Indebtedness consisting of obligations of the Issuer or any of its Restricted Subsidiaries under deferred purchase price, earn-outs or other arrangements incurred by such Person in connection with any acquisition permitted under this Indenture or
any other Investment permitted under this Indenture and (B) Indebtedness owed to the seller in connection the acquisition of any Equity Interests in Finance of America Commercial Holdings LLC that are not owned by the Issuer or its Restricted
Subsidiaries on the Issue Date; 
 (xxviii) Indebtedness attributable to (but not incurred to finance) the exercise of
appraisal rights and the settlement of any claims or actions (whether actual, contingent or potential) with respect thereto, in each case, with respect to any transaction permitted under this Indenture; 

(xxix) [reserved]; 

(xxx) (A) Permitted Funding Indebtedness; (B) Permitted Securitization Indebtedness and Indebtedness under Credit
Enhancement Agreements; and (C) Non-Recourse Indebtedness; 

  
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 (xxxi) Indebtedness arising out of or to fund purchases of all remaining
outstanding asset-backed securities of any Securitization Entity and/or Securitization Assets of any Securitization Entity in the ordinary course of business, consistent with past practice or consistent with industry practice or for the purpose of
relieving the Issuer or a Subsidiary of the Issuer of the administrative expense of servicing such Securitization Entity; 

(xxxii) Guarantees by the Issuer or any of its Restricted Subsidiaries to owners of servicing rights in the ordinary course of
business, consistent with past practice or consistent with industry practice; 
 (xxxiii) Indebtedness by the Services
Business in an amount not to exceed at any one time outstanding, together with any other Indebtedness incurred under this clause (xxxiii), the greater of (A) $50.0 million and (B) 50% of Services Business Total Assets; and 

(xxxiv) to the extent constituting Indebtedness, Indebtedness under Excess Spread Sales incurred in the ordinary course of
business, consistent with past practice or consistent with industry practice. 
 (c) For purposes of determining compliance with this
Section 4.09: 
 (i) in the event that an item of Indebtedness, Disqualified Stock or Preferred Stock (or any portion
thereof) meets the criteria of more than one of the categories of permitted Indebtedness, Disqualified Stock or Preferred Stock described in clauses (i) through (xxxiv) of Section 4.09(b) hereof or is entitled to be incurred pursuant to
Section 4.09(a) hereof, the Issuer, in its sole discretion, may divide or classify, and may from time to time redivide and reclassify, such item of Indebtedness, Disqualified Stock or Preferred Stock (or any portion thereof) and shall only be
required to include the amount and type of such Indebtedness, Disqualified Stock or Preferred Stock in one or more of the clauses under Section 4.09(b) or under Section 4.09(a) hereof; 

(ii) the Issuer shall be entitled to divide and classify an item of Indebtedness, Disqualified Stock or Preferred Stock in more
than one of the types of Indebtedness, Disqualified Stock or Preferred Stock described in Section 4.09(a) and Section 4.09(b) hereof; 

(iii) guarantees of, or obligations in respect of letters of credit, bankers’ acceptances or other similar instruments
relating to, or Liens securing, Indebtedness, Disqualified Stock or Preferred Stock that is otherwise included in the determination of a particular amount of Indebtedness, Disqualified Stock or Preferred Stock shall not be included; 

(iv) if obligations in respect of letters of credit, bankers’ acceptances or other similar instruments are incurred
pursuant to any Credit Facility and are being treated as incurred pursuant to any clause of Section 4.09(b) or Section 4.09(a) hereof and the letters of credit, bankers’ acceptances or other similar instruments relate to other
Indebtedness, Disqualified Stock or Preferred Stock, then such other Indebtedness, Disqualified Stock or Preferred Stock shall not be included; 

(v) the principal amount of any Disqualified Stock of the Issuer or a Restricted Subsidiary, or Preferred Stock of a Restricted
Subsidiary, will be equal to the greater of the maximum mandatory redemption or repurchase price (not including, in either case, any redemption or repurchase premium) or the liquidation preference thereof; and 

(vi) for purposes of calculating the Fixed Charge Coverage Ratio in connection with the incurrence of any Indebtedness pursuant
to Section 4.09(a) or Section 4.09(b) hereof or the creation or incurrence of any Lien pursuant to the definition of “Permitted Liens,” the Issuer may elect, at its option, to treat all or any portion of the committed amount of
any Indebtedness (and the issuance and creation of letters of credit and bankers’ acceptances thereunder) which is to be incurred (or any commitment in respect thereof) or secured by such Lien, as the case may be (any such committed amount
elected until revoked as described below, the “Reserved Indebtedness Amount”), as being incurred as of such election date, and, if such Fixed Charge Coverage Ratio is satisfied with respect thereto on such election date, any
subsequent 

  
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borrowing or reborrowing thereunder (and the issuance and creation of letters of credit and bankers’ acceptances thereunder) will be deemed to be permitted under this Section 4.09 or
the definition of “Permitted Liens,” as applicable, whether or not the Fixed Charge Coverage Ratio at the actual time of any subsequent borrowing or reborrowing (or issuance or creation of letters of credit or bankers’ acceptances
thereunder) is met; provided that for purposes of subsequent calculations of the Fixed Charge Coverage Ratio, the Reserved Indebtedness Amount shall be deemed to be outstanding, whether or not such amount is actually outstanding, for so long
as such commitments are outstanding or until the Issuer revokes an election of a Reserved Indebtedness Amount. 
 Accrual of interest or
dividends, the accretion of accreted value, the accretion or amortization of original issue discount and the payment of interest or dividends in the form of additional Indebtedness, Disqualified Stock or Preferred Stock, as the case may be, of the
same class shall not be deemed to be an incurrence of Indebtedness, Disqualified Stock or Preferred Stock for purposes of this Section 4.09. If Indebtedness, Disqualified Stock or Preferred Stock originally incurred in reliance upon a
percentage of LTM EBITDA under this Section 4.09 is being refinanced and such refinancing would cause the maximum amount of Indebtedness, Disqualified Stock or Preferred Stock thereunder to be exceeded at such time, then such refinancing will
nevertheless be permitted thereunder and such additional Indebtedness, Disqualified Stock or Preferred Stock will be deemed to have been incurred under the applicable provision so long as the principal amount or liquidation preference of such
refinancing Indebtedness, Disqualified Stock or Preferred Stock does not exceed the principal amount or liquidation preference of Indebtedness, Disqualified Stock or Preferred Stock being refinanced plus amounts permitted by the next sentence. Any
Refinancing Indebtedness and any Indebtedness, Disqualified Stock or Preferred Stock permitted to be incurred under this Indenture to refinance Indebtedness incurred pursuant to clauses (i), (ix), (xii)(B) and (xxiii) of Section 4.09(b)
hereof shall be deemed to include additional Indebtedness, Disqualified Stock or Preferred Stock incurred to pay accrued but unpaid interest or dividends, premiums (including tender premiums), defeasance costs, underwriting or initial purchaser
discounts, fees, costs and expenses (including original issue discount, upfront fees or similar fees) in connection with such refinancing. 

For purposes of determining compliance with any U.S. dollar-denominated restriction on the incurrence of Indebtedness, Disqualified Stock or
Preferred Stock, the U.S. Dollar Equivalent principal amount or liquidation preference of Indebtedness, Disqualified Stock or Preferred Stock denominated in a foreign currency shall be calculated based on the relevant currency exchange rate in
effect on the date such Indebtedness, Disqualified Stock or Preferred Stock was incurred, in the case of a term obligation, or upon execution of the definitive credit agreement, in the case of revolving credit debt; provided that if such
Indebtedness, Disqualified Stock or Preferred Stock is incurred to refinance other Indebtedness, Disqualified Stock or Preferred Stock denominated in a foreign currency, and such refinancing would cause the applicable U.S. dollar-denominated
restriction to be exceeded if calculated at the relevant currency exchange rate in effect on the date of such refinancing, such U.S. dollar-denominated restriction shall be deemed not to have been exceeded so long as the principal amount or
liquidation preference of such refinancing Indebtedness, Disqualified Stock or Preferred Stock does not exceed (A) the principal amount or liquidation preference of such Indebtedness, Disqualified Stock or Preferred Stock being refinanced plus
(B) the aggregate amount of accrued but unpaid interest, fees, underwriting or initial purchaser discounts, premiums (including tender premiums) and other costs and expenses (including original issue discount, upfront fees or similar fees)
incurred in connection with such refinancing. 
 The principal amount or liquidation preference of any Indebtedness, Disqualified Stock or
Preferred Stock incurred to refinance other Indebtedness, Disqualified Stock or Preferred Stock, if incurred in a different currency from the Indebtedness, Disqualified Stock or Preferred Stock being refinanced, shall be calculated based on the
currency exchange rate applicable to the currencies in which such respective Indebtedness, Disqualified Stock or Preferred Stock is denominated that is in effect on the date of such refinancing. 

This Indenture shall not treat (1) unsecured Indebtedness as subordinated or junior to Secured Indebtedness merely because it is
unsecured or (2) Indebtedness as subordinated or junior to any other Indebtedness merely because it has a junior priority with respect to the same collateral or because it is secured by different collateral or issued or guaranteed by other
obligors. 

  
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 Section 4.10. Asset Sales. 

(a) The Issuer shall not, and shall not permit any of its Restricted Subsidiaries to, consummate an Asset Sale (other than a Required Asset
Sale), unless: 
 (i) the Issuer or such Restricted Subsidiary, as the case may be, receives consideration (including by way
of relief from, or by any other Person assuming responsibility for, any liabilities, contingent or otherwise, in connection with, such Asset Sale) at the time of such Asset Sale at least equal to the fair market value (as determined in good faith by
the Issuer at the time of contractually agreeing to such Asset Sale) of the assets sold or otherwise disposed of; and 
 (ii)
except in the case of a Permitted Asset Swap, at least 75.0% of the consideration for such Asset Sale, together with all other Asset Sales since the Issue Date (on a cumulative basis), received by the Issuer or such Restricted Subsidiary, as the
case may be, is in the form of Cash Equivalents; provided that the amount of: 
 (A) the greater of the principal
amount and the carrying value of any liabilities (as reflected on the Issuer’s or such Restricted Subsidiary’s most recent consolidated balance sheet or in the footnotes thereto or, if incurred or increased subsequent to the date of such
balance sheet, such liabilities that would have been reflected on the Issuer’s or such Restricted Subsidiary’s consolidated balance sheet or in the footnotes thereto if such incurrence or increase had taken place on or prior to the date of
such balance sheet, as determined by the Issuer) of the Issuer or such Restricted Subsidiary, other than liabilities (excluding intercompany liabilities owing to a Restricted Subsidiary being disposed of) that are by their terms subordinated to the
Notes, that are (i) assumed by the transferee of any such assets (or a third party in connection with such transfer) pursuant to a written agreement which releases or indemnifies the Issuer or such Restricted Subsidiary from such liabilities or
(ii) otherwise cancelled or terminated in connection with the transaction; 
 (B) any securities, notes or other
obligations or assets received by the Issuer or such Restricted Subsidiary from such transferee that are converted or reasonably expected by the Issuer acting in good faith to be converted by the Issuer or such Restricted Subsidiary into Cash
Equivalents (to the extent of the Cash Equivalents received or expected to be received) or by their terms are required to be satisfied for Cash Equivalents within 180 days following the closing of such Asset Sale; and 

(C) any Designated Non-cash Consideration received by the Issuer or such Restricted
Subsidiary in such Asset Sale having an aggregate fair market value, taken together with all other Designated Non-cash Consideration received pursuant to this clause (C) that is at that time outstanding,
not to exceed the greater of (i) $80.0 million and (ii) 25.0% of LTM EBITDA at the time of the receipt of such Designated Non-cash Consideration (or, at the Issuer’s option, at the time of
contractually agreeing to such Asset Sale), with the fair market value of each item of Designated Non-cash Consideration being measured at the time received and without giving effect to subsequent changes in
value, shall be deemed to be Cash Equivalents for purposes of this provision and for no other purpose. 
 (b) Within 450 days after the later
of (x) the date of any Asset Sale pursuant to Section 4.10(a) and (y) the receipt of any Net Proceeds of such Asset Sale, including a Required Asset Sale, the Issuer or such Restricted Subsidiary, at its option, may apply an amount
not to exceed the Net Proceeds from such Asset Sale (the “Applicable Proceeds”): 
 (i) to reduce
Indebtedness (through a redemption, prepayment, repayment or purchase, as applicable) as follows: 

  
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 (A) Obligations under a Credit Facility to the extent such Obligations were
incurred under clause (i) of Section 4.09(b) hereof and, in the case of revolving obligations (other than Obligations in respect of any asset-based credit facility), to correspondingly reduce commitments with respect thereto; 

(B) Obligations under Secured Indebtedness (other than Indebtedness owed to the Issuer or a Restricted Subsidiary), and, in the
case of revolving obligations (other than Obligations in respect of any asset-based credit facility), to correspondingly reduce commitments with respect thereto; 

(C) Obligations under the Notes or any other Senior Indebtedness of the Issuer or any Restricted Subsidiary (and, in the case
of other Senior Indebtedness that consists of revolving obligations (other than Obligations in respect of any asset-based credit facility), to correspondingly reduce any outstanding commitments with respect thereto); provided that if the
Issuer or any Restricted Subsidiary shall so reduce any Senior Indebtedness other than the Notes, the Issuer or such Restricted Subsidiary will either (a) reduce Obligations under the Notes on a pro rata basis by, at its option,
(x) redeeming Notes as provided under Section 3.07 hereof or (y) purchasing Notes through open-market purchases or in privately negotiated transactions at market prices (which may be below par), or (b) make an offer (in
accordance with the procedures set forth in Sections 3.08 and 4.10(c) hereof) to all Holders to purchase their Notes on a ratable basis with such other Senior Indebtedness for no less than 100.0% of the principal amount thereof, plus the amount of
accrued but unpaid interest, if any, thereon up to the principal amount of Notes to be repurchased; 
 (D) Obligations of a
Restricted Subsidiary that is not a Subsidiary Guarantor, other than Indebtedness owed to the Issuer or any Restricted Subsidiary, and, in the case of revolving obligations (other than Obligations in respect of any asset-based credit facility), to
correspondingly reduce commitments with respect thereto; or 
 (E) to the extent such Applicable Proceeds are from an Asset
Sale of property or assets of a Restricted Subsidiary that is not a Subsidiary Guarantor, Obligations of the Issuer or a Subsidiary Guarantor other than Subordinated Indebtedness and other than Indebtedness owed to the Issuer or any Restricted
Subsidiary, and, in the case of revolving obligations (other than Obligations in respect of any asset-based credit facility), to correspondingly reduce commitments with respect thereto; 

(ii) to make (A) an Investment in any one or more businesses, provided that such Investment in any business is in
the form of the acquisition of Capital Stock and results in the Issuer or any of its Restricted Subsidiaries, as the case may be, owning an amount of the Capital Stock of such business such that it constitutes or continues to constitute a Restricted
Subsidiary, (B) capital expenditures or (C) acquisitions of other properties or assets (including, without limitation, Securitization Assets and assets that consist of Servicing Advances, MSRs, mortgages and crop, student, consumer or
other loans, mortgage-related securities and derivatives, other mortgage-related receivables, REO Assets, Residual Assets and other similar assets (or any interest in any of the foregoing) that are used to support or pledged to secure Permitted
Funding Indebtedness), that, in each of (A), (B) and (C), are used or useful in a Similar Business or replace the businesses, properties and/or assets that are the subject of such Asset Sale; provided that the Issuer may elect to deem
Investments, capital expenditures or acquisitions within the scope of the foregoing clauses (A), (B) or (C), as applicable, that occur prior to the receipt of the Applicable Proceeds to have been made in accordance with this clause (ii) so long
as such deemed Investments, capital expenditures or acquisitions shall have been made no earlier than the earliest of (x) the written notice of such Asset Sale to the Trustee, (y) the execution of a definitive agreement relating to such
Asset Sale or (z) the consummation of such Asset Sale; or 
 (iii) any combination of the foregoing; 

  
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 provided that a binding commitment or letter of intent entered into not later than the end of such 450-day period shall be treated as a permitted application of the Applicable Proceeds from the date of such commitment or letter of intent so long as the Issuer, or such Restricted Subsidiary enters into such
commitment or letter of intent with the good faith expectation that such Applicable Proceeds will be applied to satisfy such commitment or letter of intent within 180 days of the end of such 450-day period (an
“Acceptable Commitment”) or, in the event any Acceptable Commitment is later cancelled or terminated for any reason before the Applicable Proceeds are applied in connection therewith, the Issuer or such Restricted Subsidiary enters
into another Acceptable Commitment (a “Second Commitment”) within 180 days of such cancellation or termination; provided, further, that if any Second Commitment is later cancelled or terminated for any reason before
such Applicable Proceeds are applied, then such Applicable Proceeds shall constitute Excess Proceeds. 
 Notwithstanding any other
provisions of this Section 4.10, (i) to the extent that the application of any or all of the Applicable Proceeds of any Asset Sale or Casualty Event by a Foreign Subsidiary (a “Foreign Disposition”) (A) is
(x) prohibited or delayed by or would violate or conflict with applicable local law, (y) restricted by applicable organizational documents or any agreement or (z) subject to other organizational or administrative impediments from
being repatriated to the United States (including for the avoidance of doubt restrictions, prohibitions or impediments relating to financial assistance, corporate benefit, thin capitalization, capital maintenance and similar legal principles,
restrictions on upstreaming and/or cross-streaming of Cash Equivalents intra-group and relating to the fiduciary and/or statutory duties of the directors (or equivalent Persons) of the Issuer and/or any of its Subsidiaries) or would conflict with
the fiduciary and/or statutory duties of such Subsidiary’s directors (or equivalent Persons), or (B) would result in, or could reasonably be expected to result in, a risk of personal or criminal liability for any officer, director,
employee, manager, member of management or consultant of such Subsidiary, an amount equal to the portion of such Applicable Proceeds so affected will not be required to be applied in compliance with this Section 4.10, and such amounts may be
retained by the applicable Foreign Subsidiary; provided that if at any time within one year following the date on which the respective payment would otherwise have been required, such repatriation of any of such affected Applicable Proceeds is
permitted under the applicable local law, the applicable organizational document or agreement or the applicable other impediment, an amount equal to such amount of Applicable Proceeds so permitted to be repatriated will be promptly applied (net of
any taxes, costs or expenses that would be payable or reserved against if such amounts were actually repatriated whether or not they are repatriated) in compliance with this Section 4.10 or (ii) to the extent that the Issuer has determined
in good faith that repatriation of any or all of the Applicable Proceeds of any Foreign Disposition could have a material adverse tax or cost consequence with respect to such Applicable Proceeds (which for the avoidance of doubt, includes, but is
not limited to, any prepayment whereby doing so the Issuer, any Restricted Subsidiary or any of their respective Affiliates and/or their equityholders would incur a tax liability, including as a result of a tax dividend, a deemed dividend pursuant
to Code Section 956 or a withholding tax), the Applicable Proceeds so affected may be retained by the applicable Foreign Subsidiary and an amount equal to such Applicable Proceeds will not be required to be applied in compliance with this
Section 4.10. The non-application of any prepayment amounts as a consequence of the foregoing provisions will not, for the avoidance of doubt, constitute a Default or an Event of Default. For the
avoidance of doubt, nothing in this Indenture shall be construed to require any Subsidiary to repatriate cash. 
 (c) Any Applicable Proceeds
from an Asset Sale (other than any amounts excluded from this Section 4.10 as set forth in the final paragraph of Section 4.10(b)) that are not invested or applied as provided and within the time period set forth in Section 4.10(b)
hereof will be deemed to constitute “Excess Proceeds”; provided that any amount of Applicable Proceeds offered to Holders of the Notes pursuant to clause (b)(i)(C) of this Section 4.10 shall not be deemed to be
Excess Proceeds without regard to whether such offer is accepted by any Holders and any amount of Applicable Proceeds offered to Holders of the Notes pursuant 4.10(b) hereof that are not accepted shall be deemed to be Declined Proceeds. When the
aggregate amount of Excess Proceeds exceeds $100.0 million (the “Excess Proceeds Threshold”), the Issuer shall make an offer (an “Asset Sale Offer”) to all Holders of the Notes and, if required or permitted by
the terms of any Indebtedness that ranks pari passu in right of payment with the Notes (“Pari Passu Indebtedness”), to the holders of such Pari Passu Indebtedness, to purchase the maximum aggregate principal amount (or
accreted value, as applicable) of the Notes and such Pari Passu Indebtedness that is, with respect to the Notes only, in an amount equal to $1,000, or an integral multiple of $1,000 in excess thereof, that may be purchased out of the Excess Proceeds
at an offer price, in the case of the Notes, in cash in an amount equal to 100.0% of the principal amount thereof (or accreted value thereof, if less), plus accrued and unpaid interest, if any, to the date fixed for the closing of such offer, in
accordance with the procedures set forth in this Indenture, and in the case of such Pari Passu Indebtedness, at the offer price required by the terms thereof, in accordance with the 

  
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procedures set forth in the agreement(s) governing such Pari Passu Indebtedness. The Issuer will commence an Asset Sale Offer with respect to Excess Proceeds within 20 Business Days after the
date that Excess Proceeds exceed the Excess Proceeds Threshold by delivering to the Holders the notice required pursuant to the terms of this Indenture, with a copy to the Trustee. The Issuer may satisfy the foregoing obligations with respect to any
Applicable Proceeds by making an Asset Sale Offer with respect to such Applicable Proceeds prior to the time period that may be required by this Indenture with respect to all or a part of the available Applicable Proceeds (the “Advance
Portion”) in advance of being required to do so by this Indenture (an “Advance Offer”). 
 To the extent that the
aggregate amount (or accreted value, if applicable) of Notes and Pari Passu Indebtedness, as the case may be, tendered pursuant to an Asset Sale Offer is less than the amount offered in the Asset Sale Offer (or in the case of an Advance Offer, the
Advance Portion), the Issuer may use any remaining Excess Proceeds (or in the case of an Advance Offer, the Advance Portion) (“Declined Proceeds”) for any purposes not otherwise prohibited under this Indenture. If the aggregate
principal amount (or accreted value, if applicable) of Notes or the Pari Passu Indebtedness, as the case may be, surrendered by such holders thereof exceeds the amount offered in the Asset Sale Offer (or in the case of an Advance Offer, the Advance
Portion), the Issuer shall purchase the Notes (subject to applicable DTC procedures as to global notes) and such Pari Passu Indebtedness, as the case may be, on a pro rata basis based on the aggregate principal amount (or accreted value, if
applicable) of the Notes or such Pari Passu Indebtedness, as the case may be, tendered with adjustments as necessary so that no Notes or Pari Passu Indebtedness, as the case may be, will be repurchased in part in an unauthorized denomination. Upon
completion of any such Asset Sale Offer (or Advance Offer), the amount of Excess Proceeds that resulted in the requirement to make an Asset Sale Offer shall be reset to zero (regardless of whether there are any remaining Excess Proceeds upon such
completion). Upon consummation or expiration of any Asset Sale Offer, any remaining Applicable Proceeds shall not be deemed Excess Proceeds and the Issuer may use such Applicable Proceeds for any purpose not otherwise prohibited under this
Indenture. 
 An Asset Sale Offer or Advance Offer may be made at the same time as consents are solicited with respect to an amendment,
supplement or waiver of this Indenture, the Notes and/or Guarantees (but the Asset Sale Offer or Advance Offer may not condition tenders on the delivery of such consents). 

(d) Pending the final application of the amount of any Applicable Proceeds pursuant to this Section 4.10, the Issuer and its Restricted
Subsidiaries may temporarily reduce Indebtedness, or otherwise use such Applicable Proceeds in any manner not prohibited by this Indenture. 

(e) The Issuer shall comply with the requirements of Rule 14e-1 under the Exchange Act and any other
securities laws and regulations thereunder to the extent such laws or regulations are applicable in connection with the repurchase of the Notes pursuant to an Asset Sale Offer or an Advance Offer. To the extent that the provisions of any securities
laws or regulations conflict with the provisions of this Indenture, the Issuer shall comply with the applicable securities laws and regulations and shall not be deemed to have breached its obligations described in this Indenture by virtue thereof.

 The provisions of Section 3.08 and this Section 4.10 may be waived or modified with the written consent of the Holders of a
majority in principal amount of all the then outstanding Notes. 
 Section 4.11. Transactions with
Affiliates. 
 (a) The Issuer shall not, and shall not permit any of its Restricted Subsidiaries to, make any payment to, or sell, lease,
transfer or otherwise dispose of any of its properties or assets to, or purchase any property or assets from, or enter into or make or amend any transaction, contract, agreement, understanding, loan, advance or guarantee with any Affiliate of the
Issuer (each of the foregoing, an “Affiliate Transaction”) involving aggregate payments or consideration in excess of $40.0 million at such time, unless: 

(i) such Affiliate Transaction is on terms that are not materially less favorable to the Issuer or its relevant Restricted
Subsidiary than those that would have been obtained in a comparable transaction by the Issuer or such Restricted Subsidiary with an unrelated Person on an arm’s-length basis or, if in the good faith
judgment of the Issuer, no comparable transaction is available with which to compare such Affiliate Transaction, such Affiliate Transaction is otherwise fair to the Issuer or such Restricted Subsidiary from a financial point of view and when such
transaction is taken in its entirety; and 

  
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 (ii) with respect to any Affiliate Transaction or series of related
Affiliate Transactions involving aggregate payments or consideration in excess of $80.0 million at such time, the terms of such transaction have been approved by a majority of the members of the Board of the Issuer or any direct or indirect
parent of the Issuer. 
 Any Affiliate Transaction shall be deemed to have satisfied the requirements of clause (ii) of
this Section 4.11(a) if such Affiliate Transaction is approved by a majority of the Disinterested Directors of the Issuer or any direct or indirect parent of the Issuer, if any. 

(b) The provisions of Section 4.11(a) hereof shall not apply to the following: 

(i) (A) transactions between or among the Issuer or any of its Restricted Subsidiaries (or any entity that becomes a
Restricted Subsidiary as a result of such transaction) and (B) any merger, amalgamation or consolidation of the Issuer into any direct or indirect parent company; provided that such merger, amalgamation or consolidation is otherwise
consummated in compliance with the terms of this Indenture; 
 (ii) Restricted Payments permitted by Section 4.07 hereof
(including any transaction specifically excluded from the definition of the term “Restricted Payments”) (other than pursuant to Section 4.07(b)(xv)(H)) and Permitted Investments; 

(iii) the payment of indemnification and other similar amounts to the Investors and reimbursement of expenses of the Investors;

 (iv) (A) employment agreements, employee benefit and incentive compensation plans and arrangements and (B) the
payment of reasonable and customary fees and compensation paid to, and indemnities and reimbursements and employment and severance arrangements provided on behalf of or for the benefit of, future, present or former employees, directors, officers,
managers, members, partners, independent contractors or consultants (or their respective Controlled Investment Affiliates or Immediate Family Members) of the Issuer, any of its direct or indirect parent companies or any of its Restricted
Subsidiaries; 
 (v) transactions in which the Issuer or any of its Restricted Subsidiaries, as the case may be, delivers to
the Trustee a letter from an Independent Financial Advisor stating that such transaction is fair to the Issuer or such Restricted Subsidiary from a financial point of view or stating that the terms are not materially less favorable, when taken as a
whole, to the Issuer or its relevant Restricted Subsidiary than those that would have been obtained in a comparable transaction by the Issuer or such Restricted Subsidiary with an unrelated Person on an
arm’s-length basis; 
 (vi) any agreement or arrangement as in effect as of the
Issue Date or to be entered into in connection with the Equity Transactions, or any amendment or replacement thereto (so long as any such amendment or replacement is not materially disadvantageous in the good faith judgment of the Issuer to the
Holders when taken as a whole as compared to the applicable agreement or arrangement as in effect on the Issue Date or as of the closing date of the Equity Transactions); 

(vii) any Intercompany License Agreements; 

(viii) the existence of, or the performance by the Issuer or any of its Restricted Subsidiaries of its obligations under the
terms of, any stockholders, investor rights or similar agreement (including any registration rights agreement or purchase agreement related thereto) to which it (or any parent company of the Issuer) is a party as of the Issue Date or which is to be
entered into in connection with the Equity Transactions and any similar agreements which it (or any parent company of the Issuer) may enter into thereafter; provided, that the existence of, or the performance by the Issuer or any of its
Restricted Subsidiaries (or such parent company) of obligations under any future amendment to any such existing agreement or under 

  
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 any similar agreement entered into after the Issue Date or to be entered into in connection
with the Equity Transactions shall only be permitted by this clause (viii) to the extent that the terms of any such amendment or new agreement are not otherwise, when taken as a whole, materially disadvantageous in the good faith judgment of
the Issuer to the Holders than those in effect on the Issue Date or those to be entered into in connection with the Equity Transactions; 

(ix) Co-Investment Transactions as approved in good faith; 

(x) transactions with customers, clients, suppliers, contractors, joint venture partners or purchasers or sellers of goods or
services or providers of employees or other labor that are Affiliates, in each case in the ordinary course of business, consistent with past practice or consistent with industry practice and otherwise in compliance with the terms of this Indenture
which are fair to the Issuer and its Restricted Subsidiaries, in the reasonable determination of the Issuer, or are on terms at least as favorable as might reasonably have been obtained at such time from an unaffiliated party; 

(xi) the issuance or transfer of (A) Equity Interests (other than Disqualified Stock) of the Issuer to any direct or
indirect parent company of the Issuer or to any Permitted Holder or to any employee, director, officer, manager, member, partner or consultants (or their respective Affiliates or Immediate Family Members) of the Issuer, any of its direct or indirect
parent companies or any of its Restricted Subsidiaries and (B) directors’ qualifying shares and shares issued to foreign nationals as required by applicable law; 

(xii) (A) sales of accounts receivable, or participations therein, or Securitization Assets or related assets, or other
transactions, in connection with any Permitted Securitization Indebtedness or Permitted Funding Indebtedness and (B) sales or purchases of Servicing Advances, MSRs, mortgages and crop, student, consumer or other loans, mortgage-related
securities and derivatives, other mortgage-related receivables, REO Assets, Residual Assets and other similar assets (or any interest in any of the foregoing); 

(xiii) payments by the Issuer or any of its Restricted Subsidiaries to any of the Investors made for any financial advisory,
consulting, financing, underwriting or placement services or in respect of other investment banking activities, including, without limitation, in connection with acquisitions, divestitures or financing transactions which payments are approved by the
Issuer in good faith; 
 (xiv) (A) payments and Indebtedness and Disqualified Stock (and cancellation of any thereof) of
the Issuer and its Restricted Subsidiaries and Preferred Stock (and cancellation of any thereof) of any Restricted Subsidiary to any future, current or former employee, director, officer, manager, member, partner or consultants (or their respective
Controlled Investment Affiliates or Immediate Family Members) of the Issuer, any of its Subsidiaries or any of its direct or indirect parent companies pursuant to any management equity plan or stock option plan or any other management or employee
benefit plan or agreement or any stock subscription or shareholder agreement that are, in each case, approved by the Issuer in good faith; and any employment agreements, stock option plans and other compensatory arrangements (and any successor plans
thereto) and any supplemental executive retirement benefit plans or arrangements with any such future, present or former employees, directors, officers, managers, members, partners, independent contractors or consultants (or their respective
Controlled Investment Affiliates or Immediate Family Members) that are, in each case, approved by the Issuer in good faith and (B) Indebtedness owed to the seller in connection with the acquisition of any Equity Interests in Finance of America
Commercial Holdings LLC that are not owned by the Issuer or its Restricted Subsidiaries on the Issue Date; 
 (xv) (A)
investments by Affiliates in securities or loans or other Indebtedness of the Issuer or any of its Restricted Subsidiaries (and payment of out-of-pocket expenses
incurred by such Affiliates in connection therewith) so long as the investment is being offered by the Issuer or such Restricted Subsidiary generally to other investors on the same or more favorable terms, and (B) payments to Affiliates in
respect of securities or loans or other Indebtedness of the Issuer or any of its Restricted Subsidiaries contemplated in the foregoing subclause (A) or that were acquired from Persons other than the Issuer and its Restricted Subsidiaries, in
each case, in accordance with the terms of such securities or loans; 

  
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 (xvi) payments to or from, and transactions with, any joint venture or
Unrestricted Subsidiary in the ordinary course of business or consistent with past practice (including, without limitation, any cash management activities related thereto); 

(xvii) payments by the Issuer (and any direct or indirect parent company thereof) and its Subsidiaries pursuant to, or the
entry into, tax sharing agreements among the Issuer (and any such parent company) and its Subsidiaries, to the extent such payments are permitted under clause (xx) of Section 4.07(b) hereof; 

(xviii) any lease entered into between the Issuer or any Restricted Subsidiary, as lessee, and any Affiliate of the Issuer, as
lessor, which is approved by the Issuer in good faith; 
 (xix) intellectual property licenses and research and development
agreements in the ordinary course of business or consistent with past practice; 
 (xx) the payment of reasonable out-of-pocket costs and expenses relating to registration rights and indemnities provided to equityholders of the Issuer or any direct or indirect parent thereof pursuant to
any equityholders, registration rights or similar agreements; 
 (xxi) the pledge of Equity Interests of any Unrestricted
Subsidiary to lenders to support the Indebtedness of such Unrestricted Subsidiary owed to such lenders; 
 (xxii) Permitted
Intercompany Activities and related transactions; 
 (xxiii) (A) any transactions with a Person which would constitute
an Affiliate Transaction solely because the Issuer or its Restricted Subsidiary owns an equity interest in or otherwise controls such Person or (B) transactions with a Person which would constitute an Affiliate Transaction solely because a
director of such other Person is also a director of the Issuer or any direct or indirect parent company; provided that such director abstains from voting as a director of the Issuer or such direct or indirect parent company, as the case may
be, on any matter including such other Person; 
 (xxiv) transactions undertaken in the ordinary course of business pursuant
to membership in a purchasing consortium; 
 (xxv) the provision of mortgage servicing, mortgage loan origination, real
estate logistics, brokerage, advisory, reporting, settlement, title and management and similar services to Affiliates in the ordinary course of business, consistent with past practice or consistent with industry practice and otherwise not prohibited
by this Indenture which are fair to the Issuer and its Restricted Subsidiaries (as determined by the Issuer in good faith) or are on terms at least as favorable as might reasonably have been obtained at such time from an unaffiliated party (as
determined by the Issuer in good faith); and 
 (xxvi) any transition services arrangement, supply arrangement or similar
arrangement entered into in connection with or in contemplation of a disposition made in accordance with or not prohibited by this Indenture. 

If the Issuer or any of its Restricted Subsidiaries (i) purchases or otherwise acquires assets or properties from a Person which is not
an Affiliate, the purchase or acquisition by an Affiliate of the Issuer of an interest in all or a portion of the assets or properties acquired shall not be deemed an Affiliate Transaction (or cause such purchase or acquisition by the Issuer or a
Restricted Subsidiary to be deemed an Affiliate Transaction) or (ii) sells or otherwise disposes of assets or other properties to a Person who is not an Affiliate, the sale or other disposition by an Affiliate of the Issuer of an interest in
all or a portion of the assets or properties sold shall not be deemed an Affiliate Transaction (or cause such sale or other disposition by the Issuer or a Restricted Subsidiary to be deemed an Affiliate Transaction). 

  
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 Section 4.12. Liens. The Issuer shall not, and shall not
permit any Subsidiary Guarantor to, directly or indirectly, create, incur, assume or suffer to exist any Lien (except Permitted Liens) (each, a “Subject Lien”) that secures Obligations under any Indebtedness or any related guarantee
of Indebtedness, on any asset or property of the Issuer or any Subsidiary Guarantor, or any income or profits therefrom, or assign or convey any right to receive income therefrom, unless: 

(a) in the case of Subject Liens securing Subordinated Indebtedness, the Notes and related Guarantees are secured by a Lien on
such property, assets or proceeds that is senior in priority to such Liens; and 
 (b) in all other cases, the Notes or
Guarantees are equally and ratably secured, 
 except that the foregoing shall not apply to or restrict Liens securing obligations in respect of the Notes
and the related Guarantees. 
 Any Lien created for the benefit of the Holders of the Notes pursuant to this Section 4.12 shall be
deemed automatically and unconditionally released and discharged upon the release and discharge of the Subject Lien that gave rise to the obligation to secure the Notes. In addition, in the event that a Subject Lien is or becomes a Permitted Lien,
the Issuer may, at its option and without consent from any Holder, elect to release and discharge any Lien created for the benefit of the Holders pursuant to the preceding paragraph in respect of such Subject Lien. 

With respect to any Lien securing Indebtedness that was permitted to secure such Indebtedness at the time of the incurrence of such
Indebtedness, such Lien shall also be permitted to secure any Increased Amount of such Indebtedness. The “Increased Amount” of any Indebtedness shall mean any increase in the amount of such Indebtedness in connection with any
accrual of interest, the accretion of accreted value, the amortization of original issue discount, the payment of interest in the form of additional Indebtedness with the same terms, accretion of original issue discount or liquidation preference and
increases in the amount of Indebtedness outstanding solely as a result of fluctuations in the exchange rate of currencies or increases in the value of property securing Indebtedness. 

Section 4.13. Company Existence. Subject to Article 5 hereof, the Issuer shall do or cause to be done all
things necessary to preserve and keep in full force and effect its existence, and the corporate, partnership, limited liability company or other existence of each of its Restricted Subsidiaries, in accordance with the respective organizational
documents (as the same may be amended from time to time) of the Issuer or any such Restricted Subsidiary; provided that the Issuer shall not be required to preserve the corporate, partnership or other existence of its Restricted Subsidiaries,
if the Issuer in good faith shall determine that the preservation thereof is no longer desirable in the conduct of the business of the Issuer and its Restricted Subsidiaries, taken as a whole. For the avoidance of doubt, the Issuer and its
Restricted Subsidiaries will be permitted to change their organizational form. 
 Section 4.14. Offer to
Repurchase Upon Change of Control . If a Change of Control occurs after the Issue Date, unless the Issuer has previously or concurrently sent a redemption notice with respect to all the outstanding Notes as described under
Section 3.07 hereof, the Issuer shall make an offer to purchase all of the Notes pursuant to the offer described below (the “Change of Control Offer”) at a price in cash (the “Change of Control Payment”) equal
to 101% of the aggregate principal amount thereof plus accrued and unpaid interest, if any, to, but excluding, the date of purchase, subject to the right of Holders of record on the relevant Record Date to receive interest due on the relevant
Interest Payment Date falling prior to or on the Change of Control Payment Date. Within 60 days following any Change of Control, the Issuer will send (or cause to be sent) notice of such Change of Control Offer electronically or by first-class mail,
with a copy to the Trustee, to each Holder to the address of such Holder appearing in the Note Register or otherwise in accordance with the Applicable Procedures with the following information: 

(a) that a Change of Control Offer is being made pursuant to this Section 4.14 and that all Notes properly tendered
pursuant to such Change of Control Offer will be accepted for payment by the Issuer; 

  
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 (b) the purchase price and the purchase date, which will be no earlier than
10 days nor later than 60 days from the date such notice is sent (the “Change of Control Payment Date”), except in the case of a conditional Change of Control Offer made in advance of a Change of Control in accordance with clause
(l) of this Section 4.14; 
 (c) that any Note not properly tendered will remain outstanding and continue to accrue
interest; 
 (d) that unless the Issuer defaults in the payment of the Change of Control Payment, all Notes accepted for
payment pursuant to the Change of Control Offer shall cease to accrue interest on the Change of Control Payment Date; 
 (e)
that Holders electing to have any Notes purchased pursuant to a Change of Control Offer shall be required to surrender such Notes, with the form entitled “Option of Holder to Elect Purchase” on the reverse of such Notes completed or
otherwise in accordance with the Applicable Procedures to the Paying Agent specified in the notice at the address specified in the notice prior to the close of business on the third Business Day preceding the Change of Control Payment Date; 

(f) that Holders whose Notes are being purchased only in part shall be issued new Notes and such new Notes will be equal in
principal amount to the unpurchased portion of the Notes surrendered. The unpurchased portion of the Notes must be equal to at least $2,000 or any integral multiple of $1,000 in excess thereof; 

(g) if such notice is delivered prior to the occurrence of a Change of Control, stating that the Change of Control Offer is
conditional on the occurrence of such Change of Control and shall describe each such condition, and, if applicable, shall state that, in the Issuer’s discretion, the Change of Control Payment Date may be delayed until such time (including more
than 60 days after the notice is sent) as any or all such conditions shall be satisfied or waived, or that such repurchase may not occur and such notice may be rescinded in the event that any or all such conditions shall not have been satisfied or
waived by the Change of Control Payment Date, or by the Change of Control Payment Date as so delayed, or such notice or offer may be rescinded at any time in the Issuer’s sole discretion if the Issuer determines that any or all of such
conditions will not be satisfied or waived; 
 (h) any other instructions, as determined by the Issuer, consistent with this
Section 4.14 that a Holder must follow; and 
 (i) that Holders shall be entitled to withdraw their tendered Notes and
their election to require the Issuer to purchase such Notes; provided that the Paying Agent receives, not later than the close of business on the tenth Business Day prior to the expiration date of the Change of Control Offer, an electronic
transmission (in PDF), a facsimile transmission or letter setting forth the name of the Holder of the Notes, the principal amount of Notes tendered for purchase, and a statement that such Holder is withdrawing its tendered Notes, or a specified
portion thereof, and its election to have such Notes purchased. 
 While the Notes are in global form and the Issuer makes an
offer to purchase all of the Notes pursuant to the Change of Control Offer, a Holder may exercise its option to elect for the purchase of the Notes or withdraw such election through the facilities of DTC, subject to its rules and regulations. 

The notice, if delivered electronically or mailed in a manner herein provided, shall be conclusively presumed to have been
given, whether or not the Holder receives such notice. If (a) the notice is delivered or mailed in a manner herein provided and (b) any Holder fails to receive such notice or a Holder receives such notice but it is defective, such
Holder’s failure to receive such notice or such defect shall not affect the validity of the proceedings for the purchase of the Notes as to all other Holders that properly received such notice without defect. The Issuer shall comply with the
requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations thereunder to the extent such laws or regulations are applicable in connection with the repurchase of Notes
pursuant to a Change of Control Offer. To the extent that the provisions of any securities laws or regulations conflict with the provisions of this Indenture, the Issuer shall comply with the applicable securities laws and regulations and shall not
be deemed to have breached their obligations described in this Indenture by virtue thereof. 

  
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 (j) On the Change of Control Payment Date, the Issuer shall, to the extent
permitted by law: 
 (i) accept for payment all Notes issued by it or portions thereof validly tendered pursuant to the
Change of Control Offer; 
 (ii) deposit with the Paying Agent an amount equal to the aggregate Change of Control Payment in
respect of all Notes or portions thereof so tendered and not validly withdrawn; and 
 (iii) deliver, or cause to be
delivered, to the Trustee for cancellation the Notes so accepted together with an Officer’s Certificate to the Trustee stating that such Notes or portions thereof have been tendered to and purchased by the Issuer. 

(k) The Issuer shall not be required to make a Change of Control Offer following a Change of Control if (i) a third party
makes the Change of Control Offer in the manner, at the times and otherwise in compliance with the requirements set forth in this Indenture applicable to a Change of Control Offer made by the Issuer and purchases all Notes validly tendered and not
validly withdrawn under such Change of Control Offer or (ii) in connection with or in contemplation of any Change of Control, the Issuer (or any Affiliate of the Issuer) has made an offer to purchase (an “Alternate Offer”) any
and all Notes validly tendered at a cash price equal to or higher than the Change of Control Payment and has purchased all Notes properly tendered in accordance with the terms of the Alternate Offer. 

(l) Notwithstanding anything to the contrary herein, a Change of Control Offer or Alternate Offer may be made in advance of a
Change of Control, conditional upon such Change of Control, if a definitive agreement is in place for the Change of Control at the time of making of the Change of Control Offer or Alternate Offer. 

(m) A Change of Control Offer or Alternate Offer may be made at the same time as consents are solicited with respect to an
amendment, supplement or waiver of this Indenture, the Notes and/or Guarantees (but the Change of Control Offer and the Alternate Offer may not condition tenders on the delivery of such consents). 

(n) [reserved]. 

(o) The provisions of this Section 4.14, including the definition of “Change of Control”, may be waived or
modified with the written consent of the Holders of a majority in principal amount of all the then outstanding Notes. 

Section 4.15. Limitation on Guarantees of Indebtedness by Restricted Subsidiaries. The Issuer shall not
permit any of its Wholly-Owned Subsidiaries that are Restricted Subsidiaries (and non-Wholly-Owned Subsidiaries if such non-Wholly-Owned Subsidiaries guarantee other
capital markets debt securities of the Issuer or any Subsidiary Guarantor pursuant to clause (ii) below), other than Subsidiary Guarantors, Excluded Restricted Subsidiaries, MSR Facility Trusts, Securitization Subsidiaries, Warehouse Facility
Trusts, Foreign Subsidiaries, FSHCO Subsidiaries, Captive Insurance Subsidiaries or Broker-Dealer Subsidiaries, to guarantee the payment of (i) any syndicated Credit Facility incurred under Section 4.09(b)(i) hereof or (ii) capital
market debt securities of the Issuer or any Subsidiary Guarantor in an aggregate principal amount in excess of $100.0 million unless: 

(a) such Restricted Subsidiary within 60 days after the guarantee of such Indebtedness executes and delivers a supplemental
indenture to this Indenture, the form of which is attached as Exhibit E hereto, providing for a Guarantee by such Restricted Subsidiary, except that with respect to a guarantee of Indebtedness of the Issuer or any Subsidiary Guarantor, if
such Indebtedness is by its express terms subordinated in right of payment to the Notes or such Subsidiary Guarantor’s Guarantee, any such guarantee by such Restricted Subsidiary with respect to such Indebtedness shall be subordinated in right
of payment to such Guarantee substantially to the same extent as such Indebtedness is subordinated to the Notes; and 

  
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 (b) such Restricted Subsidiary waives and shall not in any manner whatsoever
claim or take the benefit or advantage of, any rights of reimbursement, indemnity or subrogation or any other applicable rights against the Issuer or any other Restricted Subsidiary as a result of any payment by such Restricted Subsidiary under its
Guarantee; 
 provided that this Section 4.15 shall not be applicable to any guarantee of any Restricted Subsidiary that existed
at the time such Person became a Restricted Subsidiary and was not incurred in connection with, or in contemplation of, such Person becoming a Restricted Subsidiary. The Issuer may elect, in its sole discretion, to cause any Subsidiary that is not
otherwise required to be a Subsidiary Guarantor to become a Subsidiary Guarantor, in which case such Subsidiary shall not be required to comply with the 60 day period described in clause (a) of this Section 4.15. No Opinion of Counsel
shall be required to be delivered to the Trustee in connection with the execution of a supplemental indenture solely to add Subsidiary Guarantors in connection with this covenant. 

Section 4.16. [Reserved]. 

Section 4.17. Suspension of Covenants. 

(a) If on any date following the Issue Date, (i) the Notes have an Investment Grade Rating from either of the Rating Agencies and
(ii) no Default has occurred and is continuing under this Indenture (the occurrence of the events described in the foregoing clauses (i) and (ii) being collectively referred to as a “Covenant Suspension Event” and the date
thereof being referred to as the “Suspension Date”) then, Section 4.07, Section 4.08, Section 4.09, Section 4.10, Section 4.11, Section 4.15, clause (iii) of Section 5.01(a) and
Section 5.01(f) hereof shall no longer be applicable to the Notes (collectively, the “Suspended Covenants”) until the occurrence of the Reversion Date. 

(b) During any period that the foregoing covenants have been suspended, the Issuer may not designate any of its Subsidiaries as Unrestricted
Subsidiaries. 
 (c) In the event that the Issuer and its Restricted Subsidiaries are not subject to the Suspended Covenants under this
Indenture for any period of time as a result of the foregoing, and on any subsequent date (the “Reversion Date”) both of the Rating Agencies withdraw their Investment Grade Rating or downgrade the rating assigned to the Notes below
an Investment Grade Rating (in each case, to the extent given an Investment Grade Rating by such Rating Agency), then the Issuer and its Restricted Subsidiaries will thereafter again be subject to the Suspended Covenants under this Indenture with
respect to future events. The period of time between the Suspension Date and the Reversion Date is referred to in this Indenture as the “Suspension Period.” The Guarantees of the Subsidiary Guarantors shall be suspended during the
Suspension Period. Additionally, upon the occurrence of a Covenant Suspension Event, the amount of Excess Proceeds from any Asset Sales shall be reset to zero. 

(d) During the Suspension Period, the Issuer and its Restricted Subsidiaries will be entitled to incur Liens to the extent provided for under
Section 4.12 hereof (including Permitted Liens) and any Permitted Liens which may refer to one or more Suspended Covenants shall be interpreted as though such applicable Suspended Covenant(s) continued to be applicable during the Suspension
Period (but solely for purposes of Section 4.12 hereof and the definition of “Permitted Liens” and for no other covenant). 

(e) Notwithstanding the foregoing, in the event of any such reinstatement of the Suspended Covenants, no action taken or omitted to be taken by
the Issuer or any of its Restricted Subsidiaries prior to such reinstatement will give rise to a Default or Event of Default under this Indenture with respect to the Notes, and no Default or Event of Default will be deemed to exist or have occurred
as a result of any failure by the Issuer or any Restricted Subsidiary to comply with any of the Suspended Covenants during the Suspension Period; provided, that (i) with respect to Restricted Payments made after such reinstatement, the
amount available to be made as Restricted Payments will be calculated as though Section 4.07 hereof had been in effect prior to, but not during, the Suspension Period (including with respect to a Limited Condition Transaction entered into
during the Suspension Period); (ii) all 

  
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 Indebtedness incurred, or Disqualified Stock or Preferred Stock issued, during the Suspension Period (or
deemed incurred or issued in connection with a Limited Condition Transaction entered into during the Suspension Period) will be classified to have been incurred or issued pursuant to clause (iii) of Section 4.09(b) hereof; (iii) any
Affiliate Transaction entered into after such reinstatement pursuant to an agreement entered into during any Suspension Period shall be deemed to be permitted pursuant to clause (vi) of Section 4.11(b) hereof; (iv) any encumbrance or
restriction on the ability of any Restricted Subsidiary that is not a Subsidiary Guarantor to take any action described in clauses (i) through (iii) of Section 4.08(a) hereof that becomes effective during any Suspension Period shall be
deemed to be permitted pursuant to clause (i) of Section 4.08(b) hereof; (v) no Subsidiary of the Issuer shall be required to comply with Section 4.15 hereof after such reinstatement with respect to any guarantee or obligation
entered into by such Subsidiary during any Suspension Period; and (vi) all Investments made during the Suspension Period (or deemed made in connection with a Limited Condition Transaction entered into during the Suspension Period) will be
classified to have been made under clause (e) of the definition of “Permitted Investments.” 
 (f) Notwithstanding that the
Suspended Covenants may be reinstated after the Reversion Date, (1) no Default, Event of Default or breach of any kind will be deemed to exist under this Indenture, the Notes or the Guarantees with respect to the Suspended Covenants, and none
of the Issuer or any of its Subsidiaries shall bear any liability for any actions taken or events occurring during the Suspension Period, or any actions taken at any time pursuant to any contractual obligation arising during any Suspension Period,
in each case as a result of a failure to comply with the Suspended Covenants during the Suspension Period (or, upon termination of the Suspension Period or after that time based solely on any action taken or event that occurred during the Suspension
Period), and (2) following a Reversion Date, the Issuer and each Restricted Subsidiary will be permitted, without causing a Default or Event of Default, to honor, comply with or otherwise perform any contractual commitments or obligations
arising during any Suspension Period and to consummate the transactions contemplated thereby. 
 (g) Neither the Trustee nor any Agents
shall have any duty to (i) monitor the ratings of the Notes, (ii) ascertain whether a Covenant Suspension Event or Reversion Date have occurred, or (iii) notify the Holders of any of the foregoing. 

ARTICLE 5 
 SUCCESSORS 

Section 5.01. Merger, Consolidation or Sale of All or Substantially All Assets. 

(a) The Issuer may not consolidate or merge with or into or wind up into, consummate a Division as the Dividing Person (whether or not the
Issuer is the surviving Person), or sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of its properties or assets (net of any associated non-recourse or secured
obligations), in one or more related transactions, to any Person unless: 
 (i) (A) the Issuer is the surviving Person
or (B) the Person formed by or surviving any such consolidation, amalgamation, merger or winding up or Division (if other than the Issuer) or to which such sale, assignment, transfer, lease, conveyance or other disposition will have been made
(such Person being herein called the “Successor Company”), (1) expressly assumes all of the obligations of the Issuer under this Indenture and the Notes pursuant to supplemental indentures or other applicable documents or
instruments and (2) is a Person organized or existing under the laws of the jurisdiction of organization of the Issuer or the laws of the United States, any state thereof, the District of Columbia, or any territory thereof; 

(ii) immediately after such transaction, no Event of Default exists; 

(iii) immediately after giving pro forma effect to such transaction and any related financing transactions, as if such
transactions had occurred at the beginning of the applicable four-quarter period: 
 (A) the Issuer or the Successor Company,
as applicable, would be permitted to incur at least $1.00 of additional Indebtedness pursuant to Section 4.09(a) hereof; or 

  
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 (B) the Fixed Charge Coverage Ratio for the Issuer and its Restricted
Subsidiaries or the Successor Company and its Restricted Subsidiaries, as applicable, would be equal to or greater than the Fixed Charge Coverage Ratio for the Issuer and its Restricted Subsidiaries immediately prior to such transaction; and 

(iv) the Issuer or, if applicable, the Successor Company shall have delivered to the Trustee an Officer’s Certificate and
an Opinion of Counsel, each stating that such consolidation, merger or transfer and such supplemental indentures, if any, comply with this Indenture. 

(b) The Successor Company shall succeed to, and be substituted for the Issuer under this Indenture, the Guarantees and the Notes, as
applicable, and the Issuer will automatically be released and discharged from its obligations under this Indenture, the Guarantees and the Notes, as applicable. 

(c) Notwithstanding clauses (ii) and (iii) of Section 5.01(a) hereof: 

(i) the Issuer may consolidate or amalgamate with or merge with or into or wind up into, consummate a Division as the Dividing
Person or sell, assign, transfer, lease, convey or otherwise dispose all or part of its properties and assets to a Subsidiary Guarantor; 

(ii) any Restricted Subsidiary may consolidate or amalgamate with or merge with or into or wind up into, consummate a Division
as the Dividing Person or sell, assign, transfer, lease, convey or otherwise dispose all or part of its properties and assets to the Issuer or a Subsidiary Guarantor; and 

(iii) the Issuer may consolidate or amalgamate with or merge with or into or wind up into, consummate a Division as the
Dividing Person or sell, assign, transfer, lease, convey or otherwise dispose all or part of its properties and assets to an Affiliate of the Issuer solely for the purpose of reorganizing the Issuer in the United States, any state thereof, the
District of Columbia or any territory thereof so long as the amount of Indebtedness of the Issuer and its Restricted Subsidiaries is not increased thereby. 

(d) [Reserved]. 
 (e) [Reserved].

 (f) Subject to Section 10.06 hereof, no Subsidiary Guarantor shall, and the Issuer shall not permit any Subsidiary Guarantor to,
consolidate or merge with or into or wind up into (whether or not such Subsidiary Guarantor is the surviving Person), or sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of its properties or assets, in one or
more related transactions, to any Person unless: 
 (i) (A) (1) such Subsidiary Guarantor is the surviving Person or
(2) the Person formed by or surviving any such consolidation or merger or winding up (if other than such Subsidiary Guarantor) or to which such sale, assignment, transfer, lease, conveyance or other disposition will have been made (such Person
being herein called the “Successor Person”) expressly assumes all the obligations of such Subsidiary Guarantor under this Indenture and such Subsidiary Guarantor’s related Guarantee pursuant to supplemental indentures or other
applicable documents or instruments; and 
 (B) immediately after such transaction, no Event of Default exists; or 

(ii) the transaction is not prohibited by Section 4.10(a) hereof; or 

(iii) in the case of assets comprised of Equity Interests of Subsidiaries that are not Subsidiary Guarantors, such Equity
Interests are sold, assigned, transferred, leased, conveyed or otherwise disposed of to one or more Restricted Subsidiaries. 
 Subject to
Section 10.06 hereof, the Successor Person shall succeed to, and be substituted for, such Subsidiary Guarantor under this Indenture and such Subsidiary Guarantor’s Guarantee, and such Subsidiary Guarantor shall automatically be released
and discharged from its obligations under this Indenture and such Subsidiary Guarantor’s Guarantee. 

  
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 (g) Notwithstanding anything else in this Section 5.01, any Subsidiary Guarantor may
(1) merge or consolidate or amalgamate with or into, wind up into, consummate a Division as the Dividing Person or sell, assign, transfer, lease, convey or otherwise dispose all or part of its properties and assets to a Subsidiary Guarantor or
the Issuer (or a Restricted Subsidiary that is not Subsidiary Guarantor if that Restricted Subsidiary becomes a Subsidiary Guarantor), (2) consolidate or amalgamate with or merge with or into or wind up into, consummate a Division as the Dividing
Person or sell, assign, transfer, lease, convey or otherwise dispose all or part of its properties and assets to an Affiliate of the Issuer solely for the purpose of reorganizing the Subsidiary Guarantor in another jurisdiction, (3) convert
into a corporation, partnership, limited partnership, limited liability company, trust or other entity organized or existing under the laws of the jurisdiction of organization of such Subsidiary Guarantor or (4) liquidate, wind up or dissolve
or change its legal form if the Issuer determines in good faith that such action is in the best interests of the Issuer, in each case, without regard to the requirements set forth in Sections 5.01(f) or 5.01(h) hereof. Notwithstanding anything to
the contrary in this Section 5.01, the Issuer may contribute Capital Stock of any or all of its Subsidiaries to any Subsidiary Guarantor. 

(h) This Section 5.01 shall not apply to (i) any Required Asset Sale or (ii) the Equity Transactions. 

Section 5.02. Successor Person Substituted. Upon any consolidation or merger, winding up, Division or any
sale, assignment, transfer, lease, conveyance or other disposition of all or substantially all of the property or assets of the Issuer or a Subsidiary Guarantor in accordance with Section 5.01 hereof, the successor Person formed by such
consolidation or into or with which the Issuer or such Subsidiary Guarantor, as applicable, is merged or wound up or formed upon such Division or to which such sale, or to which such sale, assignment, transfer, lease, conveyance or other disposition
is made shall succeed to, and be substituted for (so that from and after the date of such consolidation, merger, winding up, Division sale, assignment, transfer, lease, conveyance or other disposition, the provisions of this Indenture referring to
the Issuer or such Subsidiary Guarantor, as applicable, shall refer instead to the successor Person, as applicable, and not to the Issuer or such Subsidiary Guarantor, as applicable), and may exercise every right and power of the Issuer or such
Subsidiary Guarantor, as applicable, under this Indenture with the same effect as if such successor Person, as applicable, had been named as the Issuer or a Subsidiary Guarantor, as applicable, herein; provided that the predecessor Issuer
shall not be relieved from the obligation to pay the principal of and interest on the Notes, except in the case of a sale, assignment, transfer, lease, conveyance or other disposition of all or substantially all of the Issuer’s assets that
meets the requirements of Section 5.01 hereof. 
 ARTICLE 6 

DEFAULTS AND REMEDIES 

Section 6.01. Events of Default. 

(a) An “Event of Default,” wherever used herein, means any one of the following events: 

(i) default in payment when due and payable, upon redemption, acceleration or otherwise, of principal of, or premium, if any,
on the Notes; 
 (ii) default for 30 days or more in the payment when due of interest on or with respect to the Notes; 

(iii) subject to Section 4.03(e) hereof, failure by the Issuer or any Subsidiary Guarantor for 60 days after receipt of
written notice given by the Trustee or the Holders of not less than 30.0% in aggregate principal amount of the then outstanding Notes to comply with any of its obligations, covenants or agreements (other than a default referred to in clause
(i) or (ii) above) contained in this Indenture or the Notes; 
 (iv) default under any mortgage, indenture or instrument
under which there is issued or by which there is secured or evidenced any Corporate Indebtedness of the Issuer or any of its Restricted Subsidiaries or the payment of which is guaranteed by the Issuer or any of its Restricted Subsidiaries, other
than Indebtedness owed to the Issuer or a Restricted Subsidiary, whether such Indebtedness or guarantee now exists or is created after the issuance of the Notes, if both: 

  
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 (A) such default either results from the failure to pay any principal of
such Indebtedness at its stated final maturity (after giving effect to any applicable grace periods) or relates to an obligation other than the obligation to pay principal of any such Indebtedness at its stated final maturity and results in the
holder or holders of such Indebtedness causing such Indebtedness to become due prior to its stated maturity; and 
 (B) the
principal amount of such Indebtedness, together with the principal amount of any other such Indebtedness in default for failure to pay principal at stated final maturity (after giving effect to any applicable grace periods), or the maturity of which
has been so accelerated, aggregate $100.0 million (or its foreign currency equivalent) or more outstanding; 
 (v)
failure by the Issuer or any Significant Subsidiary (or any group of Restricted Subsidiaries that together (as of the latest consolidated financial statements of the Issuer for a fiscal quarter end provided as required under Section 4.03
hereof) would constitute a Significant Subsidiary) to pay final judgments aggregating in excess of $100.0 million (net of amounts covered by insurance policies issued by reputable insurance companies), which final judgments remain unpaid,
undischarged and unstayed for a period of more than 60 days after such judgment becomes final, and in the event such judgment is covered by insurance, an enforcement proceeding has been commenced by any creditor upon such judgment or decree which is
not promptly stayed; 
 (vi) the Issuer or any Significant Subsidiary (or any group of Restricted Subsidiaries that together
(as of the latest consolidated financial statements of the Issuer for a fiscal quarter end provided as required under Section 4.03 hereof) would constitute a Significant Subsidiary), pursuant to or within the meaning of any Bankruptcy Law: 

(A) commences proceedings to be adjudicated bankrupt or insolvent; 

(B) consents to the institution of bankruptcy or insolvency proceedings against it, or the filing by it of a petition or answer
or consent seeking reorganization or relief under applicable Bankruptcy Law; 
 (C) consents to the appointment of a
receiver, liquidator, assignee, trustee, sequestrator or other similar official of it or for all or substantially all of its property; 

(D) makes a general assignment for the benefit of its creditors; or 

(E) generally is not paying its debts as they become due; 

(vii) a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that: 

(A) is for relief against the Issuer or any Significant Subsidiary (or any group of Restricted Subsidiaries that together (as
of the latest consolidated financial statements of the Issuer for a fiscal quarter end provided as required under Section 4.03 hereof) would constitute a Significant Subsidiary), in a proceeding in which the Issuer or any such Subsidiary or
such group of Restricted Subsidiaries is to be adjudicated bankrupt or insolvent; 
 (B) appoints a receiver, liquidator,
assignee, trustee, sequestrator or other similar official of the Issuer or any Significant Subsidiary (or any group of Restricted Subsidiaries that together (as of the latest consolidated financial statements the Issuer for a fiscal quarter end
provided as required under Section 4.03 hereof) would constitute a Significant Subsidiary), or for all or substantially all of the property of the Issuer or any such Significant Subsidiary or such group of Restricted Subsidiaries; or 

  
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 (C) orders the liquidation of the Issuer or any Significant Subsidiary (or
any group of Restricted Subsidiaries that together (as of the latest consolidated financial statements of the Issuer for a fiscal quarter end provided as required under Section 4.03 hereof) would constitute a Significant Subsidiary); 

and the order or decree remains unstayed and in effect for 60 consecutive days; and 

(viii) the Guarantee of any Subsidiary Guarantor that is a Significant Subsidiary (or any group of Subsidiary Guarantors that
together (as of the latest consolidated financial statements of the Issuer for a fiscal quarter end provided as required under Section 4.03 hereof) would constitute a Significant Subsidiary) shall for any reason cease to be in full force and
effect or be declared null and void or any responsible officer of any Subsidiary Guarantor that is a Significant Subsidiary (or the responsible officers of any group of Subsidiary Guarantors that together (as of the latest consolidated financial
statements of the Issuer for a fiscal quarter end provided as required under Section 4.03 hereof) would constitute a Significant Subsidiary), as the case may be, denies in writing that it has any further liability under its Guarantee or gives
written notice to such effect, other than by reason of the termination of this Indenture or the release of any such Guarantee in accordance with this Indenture. 

(b) In the event of any Event of Default specified in clause (iv) of Section 6.01(a) hereof, such Event of Default and all
consequences thereof (excluding any resulting payment default, other than as a result of acceleration of the Notes) shall be annulled, waived and rescinded, automatically and without any action by the Trustee or the Holders, if within 30 days after
such Event of Default arose: 
 (i) the Indebtedness or guarantee that is the basis for such Event of Default has been
discharged; 
 (ii) the requisite number of holders thereof have rescinded or waived the acceleration, notice or action (as
the case may be) giving rise to such Event of Default; or 
 (iii) the default that is the basis for such Event of Default
has been cured. 
 Section 6.02. Acceleration. If any Event of Default (other than an Event of Default of
the type specified in clause (vi) or (vii) of Section 6.01(a) hereof) occurs and is continuing under this Indenture, the Trustee or the Holders of not less than 30.0% in aggregate principal amount of all the then outstanding Notes may, by
notice to the Issuer and the Trustee (if given by Holders), in either case specifying in such notice the respective Event of Default and that such notice is a “notice of acceleration,” declare the principal, premium, if any, interest and
any other monetary obligations on all the then outstanding Notes to be due and payable immediately; provided that no such declaration may be made with respect to any action taken, and reported publicly or to Holders, more than two years prior
to such declaration. Any notice of Default under clauses (iii), (iv), (v) or (viii) of Section 6.01(a), notice of acceleration with respect to an Event of Default under clauses (iii), (iv), (v) or (vii) of the first paragraph of this
section, written instruction to the Trustee to provide a notice of Default under clauses (iii), (iv), (v) or (vii) of the first paragraph of this section, notice of acceleration with respect to an Event of Default under clauses (iii), (iv), (v)
or (vii) of the first paragraph of this section or written instruction to the Trustee to take any other action with respect to an alleged Default or Event of Default under clauses (iii), (iv), (v) or (vii) of the first paragraph of this
section (a “Noteholder Direction”) provided by any one or more Holders (other than a Regulated Bank) (each, a “Directing Holder”) must be
accompanied by a written representation from each such Holder to the Issuer and the Trustee that such Holder is not, or, in the case such Holder is DTC or DTC’s nominee, that such Holder is being instructed solely by beneficial owners that are
not, Net Short (a “Position Representation”), which representation, in the case of a Noteholder Direction relating to a notice of Default shall be deemed repeated at all times until the resulting
Event of Default is cured or otherwise ceases to exist or the Notes are accelerated. In addition, each Directing Holder must, at the time of providing a Noteholder Direction, covenant to provide the Issuer with such other information as the Issuer
may reasonably request from time to time in order to verify the accuracy of such Directing Holder’s Position Representation within five Business Days of request therefor (a “Verification
Covenant”). In any case in which the Holder is DTC or DTC’s nominee, any Position Representation or Verification Covenant required hereunder shall be provided by the beneficial owner of the Notes in lieu of the DTC or
DTC’s nominee. 

  
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 If, following the delivery of a Noteholder Direction, but prior to acceleration of the
Notes, the Issuer determines in good faith that there is a reasonable basis to believe a Directing Holder was, at any relevant time, in breach of its Position Representation and the Issuer provides to the Trustee an Officer’s Certificate
certifying that the Issuer has (i) a good faith reasonable basis to believe that one or more Directing Holders were at any relevant time in breach of their Position Representation or their Verification Covenant and (ii) filed papers with a
court of competent jurisdiction seeking a determination that such Directing Holders were, at such time, in breach of their Position Representation, and seeking to invalidate any Event of Default that resulted from the applicable Noteholder
Direction, the cure period with respect to such Event of Default shall be automatically stayed pending a final and nonappealable determination of a court of competent jurisdiction on such matter. If such Officer’s Certificate has been delivered
to the Trustee, the Trustee shall refrain from acting in accordance with such Noteholder Direction until such time as the Issuer provides to the Trustee an Officer’s Certificate stating that (i) such Directing Holders have satisfied their
Verification Covenant or (ii) such Directing Holders have failed to satisfy its Verification Covenant, and during such time the cure period with respect to any Event of Default that resulted from the applicable Noteholder Direction shall be
automatically stayed pending satisfaction of such Verification Covenant. Any breach of the Position Representation shall result in such Directing Holder’s participation in such Noteholder Direction being disregarded; and, if, without the
participation of such Directing Holder, the percentage of Notes held by the remaining Holders that provided such Noteholder Direction would have been insufficient to validly provide such Noteholder Direction, such Noteholder Direction shall be void
ab initio, with the effect that such Event of Default shall be deemed never to have occurred, and any related acceleration rescinded, and the Trustee shall be deemed not to have received such Noteholder Direction or any notice of such alleged
Default or Event of Default, shall not be permitted to act thereon and shall be restricted from accepting and acting on any future Noteholder Direction in relation to such Event of Default. If the Directing Holder has satisfied its Verification
Covenant, then the Trustee shall be permitted to act in accordance with such Noteholder Direction. Notwithstanding the above, if such Directing Holder’s participation is not required to achieve the requisite level of consent of Holders required
under this Indenture to give such Noteholder Direction, the Trustee shall be permitted to act in accordance with such Noteholder Direction notwithstanding any action taken or to be taken by the Issuer (as described above). The Trustee shall be
entitled to conclusively rely on any Noteholder Direction or Officer’s Certificate delivered to it in accordance with this Indenture without verification, investigation or otherwise as to the statements made therein. 

Notwithstanding anything in the preceding two paragraphs to the contrary, any Noteholder Direction delivered to the Trustee during the
pendency of an Event of Default as the result of Section 6.01(a)(vi) or (vii) shall not require compliance with this Section 6.02. In addition, for the avoidance of doubt, this Section 6.02 shall not apply to any Holder that is a
Regulated Bank. 
 Each Holder by accepting a Note acknowledges and agrees that the Trustee (and any agent) shall not be liable to any party
for acting or refraining to act in accordance with (i) this Section 6.02, (ii) any Noteholder Direction, (iii) any Officer’s Certificate or (iv) its duties under this Indenture. The Trustee shall have no obligation
(i) to monitor, investigate, verify or otherwise determine if a Holder has a Net Short position, (ii) investigate the accuracy or authenticity of any Position Representation, (iii) inquire if the Issuer will seek action to determine
if a Directing Holder has breached its Position Representation, (iv) enforce any Verification Covenant, (v) monitor any court proceedings undertaken in connection therewith, (vi) monitor or investigate whether any Default or Event of
Default has been publicly reported or (vii) otherwise make any calculations, investigations or determinations with respect to any Derivative Instruments, Net Short position, Long Derivative Instrument, Short Derivative Instrument or otherwise.

 Upon the effectiveness of such declaration, or in the case of clauses (iii), (iv), (v) or (viii) of Section 6.01(a) hereof,
upon a valid Noteholder Direction, to accelerate the Notes, such principal of and premium, if any, and interest will be due and payable immediately. 

Notwithstanding the foregoing, in the case of an Event of Default arising under clause (vi) or (vii) of Section 6.01(a) hereof, all
outstanding Notes will become due and payable without further action or notice. The Trustee may withhold from the Holders notice of any continuing Default, except a Default relating to the payment of principal, premium, if any, or interest, if it
determines that withholding notice is in their interest. 

  
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 Section 6.03. Other Remedies. If an Event of Default occurs
and is continuing, the Trustee may pursue any available remedy to collect the payment of principal, premium, if any, and interest on the Notes or to enforce the performance of any provision of the Notes or this Indenture. 

The Trustee may maintain a proceeding even if it does not possess any of the Notes or does not produce any of them in the proceeding. A delay
or omission by the Trustee or any Holder of a Note in exercising any right or remedy accruing upon an Event of Default shall not impair the right or remedy or constitute a waiver of or acquiescence in the Event of Default. All remedies are
cumulative to the extent permitted by law. 
 Section 6.04. Waiver of Past Defaults. Subject to
Section 6.02, Holders of a majority in aggregate principal amount of all the Notes then outstanding, by written notice to the Trustee (with a copy to the Issuer; provided that any waiver or rescission under this Section 6.04 shall
be valid and binding notwithstanding the failure to provide a copy of such notice to the Issuer) may on behalf of the Holders of all of the Notes waive any existing Default and its consequences under this Indenture (including in connection with an
Asset Sale Offer, an Advance Offer a Change of Control Offer or an Alternate Offer) and rescind any acceleration with respect to the Notes and its consequences under this Indenture (except if such rescission would conflict with any judgment of a
court of competent jurisdiction and except a continuing Default in the payment of interest on, premium, if any, or the principal of, any Note held by a non-consenting Holder). Upon any such waiver, such
Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other Default or impair any right consequent
thereto. 
 Section 6.05. Control by Majority. Subject to Section 6.02 and Section 7.01(e)
hereof, the Holders of a majority in aggregate principal amount of all the then outstanding Notes may direct the time, method and place of conducting any proceeding for exercising any remedy available to the Trustee or of exercising any trust or
power conferred on the Trustee, and the Trustee may take any other action deemed proper by the Trustee that is not inconsistent with such direction. The Trustee, however, may refuse to follow any direction that conflicts with law or this Indenture
or that the Trustee determines is unduly prejudicial to the rights of any other Holder (it being understood that the Trustee does not have a duty to determine whether a direction is prejudicial to the Holders of the Notes) or that would involve the
Trustee in personal liability and may take any other action that is not inconsistent with any such direction received from Holders of the Notes. Prior to taking any action hereunder, the Trustee shall be entitled to indemnification and/or security
satisfactory to it in its sole discretion against all losses and expenses caused by taking or not taking such action. 

Section 6.06. Limitation on Suits. Except to enforce the right to receive payment of principal, premium (if
any) or interest when due on or after the respective due dates expressed in an outstanding Note, no Holder of a Note may pursue any remedy with respect to this Indenture or the Notes unless: 

(a) such Holder has previously given the Trustee written notice that an Event of Default is continuing and, if such Event of
Default is in respect of clauses (iii), (iv), (v) or (viii) of Section 6.01(a) hereof, such Holder is not in breach of a Position Representation or Verification Covenant; 

(b) the Holders, or in the case of clauses (iii), (iv), (v) or (viii) of Section 6.01(a) hereof, Directing Holders
that are not in breach of a Position Representation or Verification Covenant, comprising at least 30.0% in the aggregate principal amount of the then outstanding Notes have requested in writing the Trustee to pursue the remedy; 

(c) Holders of the Notes have offered the Trustee security and/or indemnity satisfactory to it against any loss, liability or
expense; 
 (d) the Trustee has not complied with such request within 60 days after the receipt thereof and the offer of
security and/or indemnity; and 
 (e) the Holders of a majority in principal amount of the then outstanding Notes have not
given the Trustee a direction inconsistent with such written request within such 60-day period. 

  
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 Section 6.07. Right of Holders to Sue for Payment.
Notwithstanding any other provision of this Indenture, the contractual right expressly set forth in this Indenture or the Notes of any Holder of a Note to bring suit for the enforcement of any payment on or with respect to such Holder’s Notes
on or after the respective due dates expressed in this Indenture or the Notes, shall not be amended without the consent of such Holder. 

Section 6.08. Collection Suit by Trustee. If an Event of Default specified in Section 6.01(a)(i) or
(ii) hereof occurs and is continuing, the Trustee is authorized to recover judgment in its own name and as trustee of an express trust against the Issuer for the whole amount of principal of, premium, if any, and interest remaining unpaid on,
the Notes and interest on overdue principal, if applicable, and, to the extent lawful, interest and such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses,
disbursements and advances of the Trustee, its agents and counsel. 
 Section 6.09. Restoration of Rights and
Remedies. If the Trustee or any Holder has instituted any proceeding to enforce any right or remedy under this Indenture and such proceeding has been discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to
such Holder, then and in every such case, subject to any determination in such proceedings, the Issuer, the Trustee and the Holders shall be restored severally and respectively to their former positions hereunder and thereafter all rights and
remedies of the Trustee and the Holders shall continue as though no such proceeding has been instituted. 

Section 6.10. Rights and Remedies Cumulative. Except as otherwise provided with respect to the replacement or
payment of mutilated, destroyed, lost or stolen Notes in Section 2.07 hereof, no right or remedy herein conferred upon or reserved to the Trustee or to the Holders is intended to be exclusive of any other right or remedy, and every right and
remedy shall, to the extent permitted by law, be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder,
or otherwise, shall not prevent the concurrent assertion or employment of any other appropriate right or remedy. 

Section 6.11. Delay or Omission Not Waiver. No delay or omission of the Trustee or of any Holder of any Note
to exercise any right or remedy accruing upon any Event of Default shall impair any such right or remedy or constitute a waiver of any such Event of Default or an acquiescence therein. Every right and remedy given by this Article 6 or by law to the
Trustee or to the Holders may be exercised from time to time, and as often as may be deemed expedient, by the Trustee or by the Holders, as the case may be. 

Section 6.12. Trustee May File Proofs of Claim. The Trustee is authorized to file such proofs of claim and
other papers or documents as may be necessary or advisable in order to have the claims of the Trustee (including any claim for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel) and the Holders
allowed in any judicial proceedings relative to the Issuer or any other obligor upon the Notes (including the Guarantors), their creditors or their property and shall be entitled and empowered to participate as a member in any official committee of
creditors appointed in such matter and to collect, receive and distribute any money or other property payable or deliverable on any such claims and any custodian in any such judicial proceeding is hereby authorized by each Holder to make such
payments to the Trustee, and in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due to it for the reasonable compensation, expenses, disbursements and advances of the
Trustee, its agents and counsel, and any other amounts due the Trustee under Section 7.06 hereof. To the extent that the payment of any such compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any
other amounts due the Trustee under Section 7.06 hereof out of the estate in any such proceeding, shall be denied for any reason, payment of the same shall be secured by a Lien on, and shall be paid out of, any and all distributions, dividends,
money, securities and other properties that the Holders may be entitled to receive in such proceeding whether in liquidation or under any plan of reorganization or arrangement or otherwise. Nothing herein contained shall be deemed to authorize the
Trustee to authorize or consent to or accept or adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or composition affecting the Notes or the rights of any Holder, or to authorize the Trustee to vote in respect of the
claim of any Holder in any such proceeding. 
 Section 6.13. Priorities. If the Trustee or any Agent
collects any money or property pursuant to this Article 6, it shall pay out the money or property in the following order: 

  
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 (a) FIRST, to the Trustee, the Agents, and their respective agents and
attorneys for amounts due under Section 7.06 hereof, including payment of all compensation, expenses and liabilities incurred, and all advances made, by the Trustee or the Agents and the costs and expenses of collection; 

(b) SECOND, to Holders for amounts due and unpaid on the Notes for principal, premium, if any, and interest, ratably, without
preference or priority of any kind, according to the amounts due and payable on the Notes for principal, premium, if any, and interest, respectively; and 

(c) THIRD, to the Issuer or to such party as a court of competent jurisdiction shall direct including a Subsidiary Guarantor,
if applicable. 
 The Trustee may fix a record date and payment date for any payment to Holders pursuant to this Section 6.13. 

Section 6.14. Undertaking for Costs. In any suit for the enforcement of any right or remedy under this
Indenture or in any suit against the Trustee for any action taken or omitted by it as a Trustee, a court in its discretion may require the filing by any party litigant in the suit of an undertaking to pay the costs of the suit, and the court in its
discretion may assess reasonable costs, including reasonable attorneys’ fees and expenses, against any party litigant in the suit, having due regard to the merits and good faith of the claims or defenses made by the party litigant. This
Section 6.14 does not apply to a suit by the Trustee, a suit by a Holder of a Note pursuant to Section 6.07 hereof, or a suit by Holders of more than 10.0% in principal amount of the then outstanding Notes. 

Section 6.15 Underlying Cure. Any Default or Event of Default resulting from the failure to
deliver a notice, report or certificate under this Indenture shall cease to exist and be cured in all respects if the underlying Default or Event of Default giving rise to such notice, report or certificate requirement shall have ceased to exist
and/or be cured (including pursuant to Section 6.04). For the avoidance of doubt, each of the parties hereto agree that any court of competent jurisdiction may (x) extend or stay any grace period set forth in this Indenture prior to when
any actual or alleged Default becomes an actual or alleged Event of Default or (y) stay the exercise of remedies by the Trustee or Holders contemplated by this Indenture or otherwise upon the occurrence of an actual or alleged Event of Default,
in each case of clauses (x) and (y), in accordance with the requirements of applicable law. 
 ARTICLE 7 

TRUSTEE AND AGENTS 

Section 7.01. Duties of Trustee. 

(a) If an Event of Default has occurred and is continuing, the Trustee shall exercise such of the rights and powers vested in it by this
Indenture, and use the same degree of care and skill in its exercise, as a prudent person would exercise or use under the circumstances in the conduct of such person’s own affairs. 

(b) Except during the continuance of an Event of Default: 

(i) the duties of the Trustee shall be determined solely by the express provisions of this Indenture and the Trustee need
perform only those duties that are specifically set forth in this Indenture and no others, and no implied covenants, duties or obligations shall be read into this Indenture against the Trustee; and 

(ii) in the absence of gross negligence or willful misconduct on its part, the Trustee may conclusively rely, as to the truth
of the statements and the correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture. However, in the case of any such certificates or opinions which by
any provision hereof are specifically required to be furnished to the Trustee, the Trustee shall examine the certificates and opinions to determine whether or not they conform to the requirements of this Indenture (but need not investigate or
confirm the accuracy of mathematical calculations or other facts stated therein). 

  
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 (c) The Trustee may not be relieved from liabilities for its own grossly negligent action,
its own grossly negligent failure to act, or its own willful misconduct, except that: 
 (i) this paragraph (c) does not
limit the effect of paragraph (b) of this Section 7.01; 
 (ii) the Trustee shall not be liable for any error of
judgment made in good faith by a Responsible Officer, unless it is proved in a court of competent jurisdiction that the Trustee was negligent in ascertaining the pertinent facts; and 

(iii) the Trustee shall not be liable with respect to any action it takes or omits to take in good faith in accordance with a
direction received by it pursuant to Section 6.02, 6.04 or 6.05 hereof. 
 (d) Whether or not therein expressly so provided, every
provision of this Indenture that in any way relates to the Trustee is subject to paragraphs (a), (b) and (c) of this Section 7.01 and Section 7.02(f). 

(e) The Trustee shall be under no obligation to exercise any of its rights or powers under this Indenture at the request or direction of any of
the Holders unless the Holders have offered and if requested, provided to the Trustee indemnity and/or security satisfactory to the Trustee against any loss, liability or expense. 

(f) The Trustee shall not be liable for interest on any money received by it except as the Trustee may agree in writing with the Issuer. Money
held in trust by the Trustee need not be segregated from other funds except to the extent required by law. 

Section 7.02. Rights of Trustee. 

(a) The Trustee may conclusively rely upon any document believed by it to be genuine and to have been signed or presented by the proper Person.
The Trustee need not investigate any fact or matter stated in the document, but the Trustee, in its discretion, may make such further inquiry or investigation into such facts or matters as it may see fit, and, if the Trustee shall determine to make
such further inquiry or investigation, it shall be entitled to examine the books, records and premises of the Issuer and its Restricted Subsidiaries, personally or by agent or attorney at the sole cost of the Issuer and shall incur no liability or
additional liability of any kind by reason of such inquiry or investigation. 
 (b) Before the Trustee acts or refrains from acting, it may
require an Officer’s Certificate or an Opinion of Counsel or both. The Trustee shall not be liable for any action it takes or omits to take in good faith in reliance on such Officer’s Certificate or Opinion of Counsel. The Trustee may
consult with counsel of its selection and the advice of such counsel or any Opinion of Counsel shall be full and complete authorization and protection from liability in respect of any action taken, suffered or omitted by it hereunder in good faith
and in reliance thereon. 
 (c) The Trustee may act through its attorneys and agents and shall not be responsible for the misconduct or
negligence of any agent or attorney appointed with due care. 
 (d) The Trustee shall not be liable for any action it takes or omits to take
in good faith that it believes to be authorized or within the rights or powers conferred upon it by this Indenture. 
 (e) Unless otherwise
specifically provided in this Indenture, any demand, request, direction or notice from the Issuer shall be sufficient if signed by an Officer of the Issuer. 

(f) None of the provisions of this Indenture shall require the Trustee to expend or risk its own funds or otherwise to incur any liability,
financial or otherwise, in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers if an indemnity and/or security satisfactory to it against such risk or liability is not assured to it. 

  
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 (g) The Trustee shall not be deemed to have notice of any Default or Event of Default unless
written notice of any event which is in fact such a Default or Event of Default is received by a Responsible Officer of the Trustee at the Corporate Trust Office, and such notice references the Notes, the Issuer and this Indenture. 

(h) In no event shall the Trustee be responsible or liable for special, punitive, indirect, or consequential loss or damage of any kind
whatsoever (including, but not limited to, loss of profit) irrespective of whether the Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. 

(i) The rights, privileges, protections, immunities and benefits given to the Trustee, including, without limitation, its right to be
indemnified and to resign, are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder, and each Agent, custodian and other Person employed to act hereunder. 

(j) [reserved]. 
 (k) Delivery of
reports, information and documents (including, without limitation, reports contemplated under Section 4.03 hereof) to the Trustee is for informational purposes only and the Trustee’s receipt of such shall not constitute constructive notice
of any information contained therein or determinable from information contained therein, including the Issuer’s compliance with any of its covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officer’s
Certificates). 
 (l) The permissive rights of the Trustee to take certain actions under this Indenture shall not be construed as a duty
unless so specified herein. 
 (m) The Trustee shall not be bound to make any investigation into the facts or matters stated in any
resolution, certificate, statement, instrument, opinion, report, notice, request, consent, order, approval, bond, debenture, note or other paper or document unless requested in writing to do so by the Holders of not less than a majority in principal
amount of the Notes at the time outstanding, but the Trustee, in its discretion, may make such further inquiry or investigation into such facts or matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or
investigation, it shall be entitled to examine the books, records and premises of the Issuer, personally or by agent or attorney, at the expense of the Issuer and shall incur no liability of any kind by reason of such inquiry or investigation. 

(n) The Trustee may request that the Issuer deliver an Officer’s Certificate setting forth the names of individuals and/or titles of
officers authorized at such time to take specified actions pursuant to this Indenture, which Officer’s Certificate may be signed by any Person authorized to sign an Officer’s Certificate, including any Person specified as so authorized in
any such certificate previously delivered and not superseded. 
 (o) The Trustee shall not be responsible or liable for any failure or delay
in the performance of its obligations under this Indenture arising out of or caused, directly or indirectly, by circumstances beyond its reasonable control, including, without limitation, acts of God; earthquakes; fire; flood; terrorism; wars and
other military disturbances; sabotage; epidemics; riots; loss or malfunction of utilities, computer (hardware or software) or communication services; strikes or similar labor disputes; and acts of civil or military authorities and governmental
action. 
 (p) The Trustee shall have no duty to inquire as to the performance of the Issuer with respect to the covenants contained in
Article 4 or to make any calculation in connection therewith or in connection with any redemption of the Notes. In addition, except as otherwise expressly provided herein, the Trustee shall have no obligation to monitor or verify compliance by the
Issuer or any Guarantor with any other obligation or covenant under this Indenture or the unavailability of the Federal Reserve Bank wire or facsimile or other wire communication facility. 

(q) The Trustee shall not have any responsibility for the validity, perfection, priority, filing, continuation or enforceability of any Lien or
security interest and shall have no obligations to take any action to procure or maintain such validity, perfection, priority, filing, continuation or enforceability (it being understood that such responsibility and obligation are the
Issuer’s). 

  
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 (r) The Trustee shall not be required to give any bond or surety in respect of the
performance of its powers and duties hereunder. 
 (s) The Trustee may retain professional advisors to assist it in performing its duties
under this Indenture. The Trustee may consult with such professional advisors or with counsel, and the advice or opinion of such professional advisors or counsel with respect to legal or other matters relating to this Indenture and the Notes shall
be full and complete authorization and protection from liability in respect of any action taken, omitted or suffered by it hereunder in good faith and in accordance with the advice or opinion of such counsel. 

Section 7.03. Individual Rights of Trustee. The Trustee in its individual or any other capacity may become
the owner or pledgee of Notes and may otherwise deal with the Issuer or any of its Affiliates with the same rights it would have if it were not Trustee. However, in the event that the Trustee acquires any conflicting interest (as such term is used
in the Trust Indenture Act) it must eliminate such conflict within 90 days or resign. Any Agent may do the same with like rights and duties. The Trustee is also subject to Section 7.09 hereof. 

Section 7.04. Trustee’s Disclaimer. The Trustee shall not be responsible for and makes no
representation as to the validity or adequacy of this Indenture or the Notes, it shall not be accountable for the Issuer’s use of the proceeds from the Notes or any money paid to the Issuer or upon the Issuer’s direction under any
provision of this Indenture, it shall not be responsible for the use or application of any money received by any Paying Agent other than the Trustee, and it shall not be responsible for any statement or recital herein or any statement in the Notes
or any other document in connection with the sale of the Notes or pursuant to this Indenture other than its certificate of authentication. 

The Trustee does not assume any responsibility for any failure or delay in performance or any breach by the Issuer or any Guarantor under this
Indenture. The Trustee shall not be responsible to the Holders or any other Person for any recitals, statements, information, representations or warranties contained in this Indenture or in any certificate, report, statement, or other document
referred to or provided for in, or received by the Trustee under or in connection with, this Indenture; the validity, enforceability or collectability of any Obligations; the assets, liabilities, financial condition, results of operations, business,
creditworthiness or legal status of any obligor; or for any failure of any obligor to perform its Obligations under this Indenture. 

Section 7.05. Notice of Defaults. If a Default occurs and is continuing and if it is known to a Responsible
Officer of the Trustee, the Trustee shall deliver to Holders a notice of the Default within 90 days after it occurs, unless such Default shall have been cured or waived, or if discovered after 90 days, promptly thereafter. The Trustee may withhold
from the Holders notice of any continuing Default, except a Default relating to the payment of principal, premium, if any, or interest, if it determines that withholding notice is in their interest. 

Section 7.06. Compensation and Indemnity. The Issuer and the Guarantors, jointly and severally, shall pay to
the Trustee and the Agents from time to time such compensation for its acceptance of this Indenture and services hereunder as the parties shall agree in writing from time to time. The Trustee’s and the Agent’s compensation shall not be
limited by any law on compensation of a trustee of an express trust. The Issuer and the Guarantors, jointly and severally, shall reimburse the Trustee and the Agents promptly upon request for all out-of-pocket disbursements, advances and expenses incurred or made by it in addition to the compensation for its services. Such expenses shall include the reasonable compensation, disbursements and expenses
of the Trustee’s and the Agent’s and their respective agents and counsel. 
 The Issuer and the Guarantors, jointly and severally,
shall indemnify the Trustee, the Agents, and their respective officers, directors, employees, agents and any predecessor trustee and its officers, directors, employees and agents (collectively, the “Indemnified Parties”) for, and hold the
Indemnified Persons harmless against, any and all loss, damage, claims, liability or expense (including reasonable attorneys’ fees and expenses) incurred by it in connection with the acceptance or administration of this trust and the
performance of its duties hereunder (including the reasonable costs and expenses of enforcing this Indenture against the Issuer or any of the Guarantors (including this Section 7.06) or defending itself against any claim whether asserted by any
Holder, the Issuer or any Guarantor, or liability in connection with the acceptance, exercise or performance of any of its powers or duties hereunder) (but excluding taxes imposed on such Persons in connection with compensation for such
administration or performance). The Trustee shall notify the Issuer promptly of any claim of which a Responsible Officer has received written notice 

  
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for which it may seek indemnity. Failure by the Trustee to so notify the Issuer shall not relieve the Issuer or the Guarantors of their obligations hereunder. Except in cases where the interests
of the issuers and/or Guarantors, on the one hand, and the Indemnified Parties, on the other hand, may be adverse, the Issuer shall defend the claim and the applicable Indemnified Party may have separate counsel and the Issuer and the Guarantors,
jointly and severally, shall pay the reasonable fees and expenses of such counsel. Neither the Issuer nor any Guarantor need reimburse any expense or indemnify against any loss, liability or expense incurred by an Indemnified Party through such
Indemnified Party’s own willful misconduct or gross negligence (as determined by a court of competent jurisdiction in a final, non-appealable judgment). Neither the Issuer nor any Guarantor need pay for
any settlement made without its consent. Any settlement which affects an Indemnified Parties may not be entered into without the consent of such Indemnified Party, unless the applicable Indemnified Parties is given a full and unconditional release
from liability with respect to the claims covered thereby and such settlement does not include a statement or admission of fault, culpability, or failure to act by or on behalf of such Indemnified Party. 

The obligations of the Issuer and the Guarantors under this Section 7.06 shall survive the satisfaction and discharge of this Indenture
or the earlier resignation or removal of the Trustee and such other Indemnified Parties, as applicable. 
 To secure the payment obligations
of the Issuer and the Guarantors in this Section 7.06, the Trustee shall have a Lien prior to the Notes on all money or property held or collected by the Trustee, except money or property held in trust to pay principal and interest on
particular Notes. Such Lien shall survive the satisfaction and discharge of this Indenture. 
 When the Trustee is requested to act upon
instructions of one or more Holders, the Trustee shall not be required to act in the absence of indemnity and/or security against the costs, expenses and liabilities that may be incurred in compliance with such a request. 

When the Trustee incurs expenses or renders services after an Event of Default specified in Section 6.01(a)(vi) or
Section 6.01(a)(vii) hereof occurs, the expenses and the compensation for the services (including the reasonable fees and expenses of its agents and counsel) are intended to constitute expenses of administration under any Bankruptcy Law. 

Section 7.07. Replacement of Trustee. A resignation or removal of the Trustee and appointment of a successor
Trustee shall become effective only upon the successor Trustee’s acceptance of appointment as provided in this Section 7.07. The Trustee may resign in writing at any time and be discharged from the trust hereby created by so notifying the
Issuer. The Holders of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuer in writing. The Issuer may remove the Trustee if: 

(a) the Trustee fails to comply with Section 7.09 hereof; 

(b) the Trustee is adjudged bankrupt or insolvent or an order for relief is entered with respect to the Trustee under any
Bankruptcy Law; 
 (c) a custodian or public officer takes charge of the Trustee or its property; or 

(d) the Trustee becomes incapable of acting. 

If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuer shall promptly appoint a
successor Trustee. Within one year after the successor Trustee takes office, the Holders of a majority in principal amount of the then outstanding Notes may appoint a successor Trustee to replace the successor Trustee appointed by the Issuer. 

If a successor Trustee does not take office within 30 days after the retiring Trustee resigns or is removed, the retiring Trustee (at the
Issuer’s expense), the Issuer or the Holders of at least 10% in principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. 

  
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 If the Trustee, after written request by any Holder who has been a Holder for at least six
months, fails to comply with Section 7.09 hereof, such Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. 

A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Issuer. Thereupon, the
resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall deliver a notice of its succession to
Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee; provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.06
hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.07, the Issuer’s obligations under Section 7.06 hereof shall continue for the benefit of the retiring Trustee. 

Section 7.08. Successor Trustee by Merger, etc. If the Trustee or Agent consolidates, merges or converts
into, or transfers all or substantially all of its corporate trust business to, another corporation, the successor corporation without any further act shall be the successor Trustee or Agent. Any corporation into which the Trustee or any Agent for
the time being may be merged or converted shall, on the date when such merger, conversion, consolidation, sale or transfer becomes effective and to the extent permitted by applicable law, be a successor Trustee or Agent under this Indenture without
the execution or filing of any paper or any further act on the part of any of the parties to this Indenture. After the effective date all references in this Indenture to that Trustee or Agent shall be deemed to be references to that corporation.

 Section 7.09. Eligibility; Disqualification. There shall at all times be a Trustee hereunder that is a
corporation organized and doing business under the laws of the United States of America or of any state thereof that is authorized under such laws to exercise corporate trustee power, that is subject to supervision or examination by federal or state
authorities and that has, together with its parent, a combined capital and surplus of at least $150,000,000 as set forth in its most recent published annual report of condition. 

ARTICLE 8 
 LEGAL DEFEASANCE AND
COVENANT DEFEASANCE 
 Section 8.01. Option to Effect Legal Defeasance or Covenant Defeasance. The Issuer
may, at its option and at any time, elect to have either Section 8.02 or 8.03 hereof applied to all outstanding Notes and all obligations of the Guarantors with respect to the Guarantees upon compliance with the conditions set forth below in
this Article 8. 
 Section 8.02. Legal Defeasance and Discharge. Upon the Issuer’s exercise under
Section 8.01 hereof of the option applicable to this Section 8.02 with respect to the Notes, the Issuer and the Guarantors shall, subject to the satisfaction of the conditions set forth in Section 8.04 hereof, be deemed to have been
discharged from their obligations under this Indenture with respect to all outstanding Notes and the related Guarantees of such Series and all Defaults and Events of Default cured on the date the conditions set forth below are satisfied
(“Legal Defeasance”). For this purpose, Legal Defeasance means that the Issuer and the Guarantors shall be deemed to have paid and discharged the entire Indebtedness represented by the outstanding Notes, which shall thereafter be
deemed to be “outstanding” only for the purposes of Section 8.05 hereof and the other Sections of this Indenture referred to in (a) and (b) below (it being understood that such Notes shall not be deemed outstanding for accounting
purposes), and to have satisfied all their other obligations under such Notes and this Indenture including that of the Guarantors (and the Trustee, on demand of and at the expense of the Issuer, shall execute instruments reasonably requested by the
Issuer acknowledging the same) and to have cured all then existing Defaults and Events of Default, except for the following provisions which shall survive until otherwise terminated or discharged hereunder: 

(a) the rights of Holders of the Notes to receive payments in respect of the principal of, premium, if any, and interest on the
Notes when such payments are due solely out of the trust created pursuant to this Indenture referred to in Section 8.04 hereof; 

(b) the Issuer’s obligations with respect to Notes concerning issuing temporary Notes, registration of such Notes,
mutilated, destroyed, lost or stolen Notes and the maintenance of an office or agency for payment and money for security payments held in trust; 

  
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 (c) the rights, powers, trusts, duties and immunities of the Trustee, and
the Issuer’s and the Guarantors’ obligations in connection therewith; and 
 (d) this Section 8.02. 

Subject to compliance with this Article 8, the Issuer may exercise its option under this Section 8.02 notwithstanding the prior exercise
of its option under Section 8.03 hereof. 
 Section 8.03. Covenant Defeasance. Upon the Issuer’s
exercise under Section 8.01 hereof of the option applicable to this Section 8.03, the Issuer and the Guarantors shall, with respect to the Notes, subject to the satisfaction of the conditions set forth in Section 8.04 hereof, be
released from their obligations under Sections 3.08, 4.03, 4.04, 4.05, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 4.13, 4.14 and 4.15 hereof, and clauses (ii) and (iii) of Section 5.01(a), Section 5.01(f) and Section 5.01(h) hereof with
respect to all outstanding Notes and the related Guarantees, on and after the date the conditions set forth in Section 8.04 hereof are satisfied (“Covenant Defeasance”), and such Notes shall thereafter be deemed not
“outstanding” for the purposes of any direction, waiver, consent or declaration or act of Holders (and the consequences of any thereof) in connection with such covenants, but shall continue to be deemed “outstanding” for all
other purposes hereunder (it being understood that such Notes shall not be deemed outstanding for accounting purposes). For this purpose, Covenant Defeasance means that, with respect to all outstanding Notes and the related Guarantees, the Issuer
and the Guarantors may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such covenant, whether directly or indirectly, by reason of any reference elsewhere herein to any such covenant
or by reason of any reference in any such covenant to any other provision herein or in any other document and such omission to comply shall not constitute a Default or an Event of Default under Section 6.01 hereof, but, except as specified
above, the remainder of this Indenture and such Notes and the Guarantees of the Notes shall be unaffected thereby. In addition, upon the Issuer’s exercise under Section 8.01 hereof of the option applicable to this Section 8.03 hereof,
subject to the satisfaction of the conditions set forth in Section 8.04 hereof, Section 6.01(a)(iii) (solely with respect to the covenants that are released upon a Covenant Defeasance), 6.01(a)(iv), 6.01(a)(v), 6.01(a)(vi) (solely with
respect to Restricted Subsidiaries subject thereto), 6.01(a)(vii) (solely with respect to Restricted Subsidiaries subject thereto) and 6.01(a)(viii) hereof shall not constitute Default or Events of Default. 

Section 8.04. Conditions to Legal or Covenant Defeasance. The following shall be the conditions to the
application of either Section 8.02 or 8.03 hereof to the outstanding Notes: 
 In order to exercise either Legal Defeasance or Covenant
Defeasance with respect to the Notes: 
 (a) the Issuer shall irrevocably deposit with the Trustee, in trust, for the benefit
of the Holders of the Notes, cash in U.S. dollars, U.S. Government Securities, or a combination thereof, in such amount as will be sufficient, in the opinion of an Independent Financial Advisor, without consideration of any reinvestment to pay the
principal of, premium, if any, and interest due on the Notes on the stated maturity date or on the Redemption Date, as the case may be, of such principal, premium, if any, or interest on such Notes and the Issuer must specify whether such Notes are
being defeased to maturity or to a particular Redemption Date; provided that upon any redemption that requires the payment of the Applicable Premium, the amount deposited shall be sufficient for purposes of this Indenture to the extent that
an amount is deposited with the Trustee equal to the Applicable Premium calculated as of the date of the notice of redemption, with any deficit as of the Redemption Date (any such amount, the “Applicable Premium Deficit”) only
required to be deposited with the Trustee on or prior to the Redemption Date. Any Applicable Premium Deficit shall be set forth in an Officer’s Certificate delivered to the Trustee simultaneously with the deposit of such Applicable Premium
Deficit that confirms that such Applicable Premium Deficit shall be applied toward such redemption; 
 (b) in the case of
Legal Defeasance, the Issuer shall have delivered to the Trustee an Opinion of Counsel confirming that, subject to customary assumptions and exclusions: 

(i) the Issuer has received from, or there has been published by, the United States Internal Revenue Service a ruling, or 

  
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 (ii) since the Issue Date, there has been a change in the applicable U.S.
federal income tax law, 
 in either case to the effect that, and based thereon such Opinion of Counsel shall confirm that, subject to
customary assumptions and exclusions, the beneficial owners of the Notes will not recognize income, gain or loss for U.S. federal income tax purposes as a result of such Legal Defeasance and will be subject to U.S. federal income tax on the same
amounts, in the same manner and at the same times as would have been the case if such Legal Defeasance had not occurred; 

(c) in the case of Covenant Defeasance, the Issuer shall have delivered to the Trustee an Opinion of Counsel confirming that,
subject to customary assumptions and exclusions, the beneficial owners of the Notes will not recognize income, gain or loss for U.S. federal income tax purposes as a result of such Covenant Defeasance and will be subject to U.S. federal income tax
on the same amounts, in the same manner and at the same times as would have been the case if such Covenant Defeasance had not occurred; 

(d) no Event of Default (other than that resulting from borrowing funds to be applied to make such deposit and any similar and
simultaneous deposit relating to other Indebtedness and, in each case, the granting of Liens in connection therewith) shall have occurred and be continuing on the date of such deposit; 

(e) such Legal Defeasance or Covenant Defeasance shall not result in a breach or violation of, or constitute a default under,
any material agreement or instrument (other than this Indenture) to which the Issuer or any Guarantor is a party or by which the Issuer or any Guarantor is bound (other than that resulting from any borrowing of funds to be applied to make the
deposit required to effect such Legal Defeasance or Covenant Defeasance and any similar and simultaneous deposit relating to other Indebtedness, and, in each case, the granting of Liens in connection therewith); 

(f) the Issuer shall have delivered to the Trustee an Officer’s Certificate stating that the deposit was not made by the
Issuer with the intent of defeating, hindering, delaying or defrauding any creditors of the Issuer or any Guarantor or others; and 

(g) the Issuer shall have delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel (which Opinion of
Counsel may be subject to customary assumptions and exclusions), each stating that all conditions precedent provided for or relating to the Legal Defeasance or the Covenant Defeasance, as the case may be, have been complied with. 

Section 8.05. Deposited Money and U.S. Government Securities to be Held in Trust; Other Miscellaneous
Provisions. Subject to Section 8.06 hereof, all money and U.S. Government Securities (including the proceeds thereof) deposited with the Trustee (or other qualifying trustee, collectively for purposes of this Section 8.05, the
“Trustee”) pursuant to Section 8.04 hereof in respect of the outstanding Notes shall be held in trust and applied by the Trustee, in accordance with the provisions of such Notes and this Indenture, to the payment, either
directly or through any Paying Agent (including the Issuer or a Subsidiary Guarantor acting as Paying Agent) as the Trustee may determine, to the Holders of such Notes of all sums due and to become due thereon in respect of principal, premium and
interest, but such money need not be segregated from other funds except to the extent required by law. 
 The Issuer and the Guarantors,
jointly and severally, shall pay and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the cash or U.S. Government Securities deposited pursuant to Section 8.04 hereof or the principal and interest
received in respect thereof other than any such tax, fee or other charge which by law is for the account of the Holders of the outstanding Notes and the related Guarantees. 

Anything in this Article 8 to the contrary notwithstanding, the Trustee shall deliver or pay to the Issuer from time to time upon the written
request of the Issuer any money or U.S. Government Securities held by it as provided in Section 8.04 hereof which, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof
delivered to the Trustee (which may be the opinion delivered under Section 8.04(a) hereof), are in excess of the amount thereof that would then be required to be deposited to effect an equivalent Legal Defeasance or Covenant Defeasance. 

  
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 Section 8.06. Repayment to Issuer. Subject to any
applicable abandoned property law, any money deposited with the Trustee or any Paying Agent, or then held by the Issuer, in trust for the payment of the principal of, premium, if any, or interest on any Note and remaining unclaimed for two years
after such principal, and premium, if any, or interest has become due and payable shall be paid to the Issuer on their request or (if then held by the Issuer) shall be discharged from such trust; and the Holder of such Note shall thereafter look
only to the Issuer for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Issuer as trustee thereof, shall thereupon cease. 

Section 8.07. Reinstatement. If the Trustee or Paying Agent is unable to apply any United States dollars or
U.S. Government Securities in accordance with Section 8.02 or 8.03 hereof, as the case may be, by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, then the
Issuer’s and the Guarantor’s obligations under this Indenture and the Notes and the Guarantees shall be revived and reinstated as though no deposit had occurred pursuant to Section 8.02 or 8.03 hereof until such time as the Trustee or
Paying Agent is permitted to apply all such money in accordance with Section 8.02 or 8.03 hereof, as the case may be; provided that if the Issuer makes any payment of principal of, premium, if any, or interest on any Notes following the
reinstatement of their obligations, the Issuer shall be subrogated to the rights of the Holders of such Notes to receive such payment from the money held by the Trustee or Paying Agent. 

ARTICLE 9 
 AMENDMENT, SUPPLEMENT
AND WAIVER 
 Section 9.01. Without Consent of Holders. Notwithstanding Section 9.02 hereof, the
Issuer, any Guarantor (with respect to a Guarantee or this Indenture to which it is a party), the Trustee (and any other Agents party thereto (to the extent applicable)), as the case may be, may amend or supplement this Indenture, the Notes and any
Guarantee without the consent of any Holder: 
 (a) to cure any ambiguity, omission, mistake, defect or inconsistency; 

(b) to provide for uncertificated Notes in addition to or in place of certificated Notes; 

(c) to comply with Section 5.01 hereof; 

(d) to provide for the assumption of the Issuer’s or any Guarantor’s obligations to the Holders; 

(e) to make any change that would provide any additional rights or benefits to the Holders or that does not materially
adversely affect the legal rights under this Indenture of any such Holder; 
 (f) to add or modify covenants for the benefit
of the Holders or to surrender any right or power conferred upon the Issuer or any Guarantor; 
 (g) to provide for the
issuance of Additional Notes in accordance with the terms of this Indenture; 
 (h) to evidence and provide for the
acceptance and appointment under this Indenture of a successor Trustee or a successor Paying Agent hereunder (or any other applicable agent) pursuant to the requirements hereof; 

(i) to secure the Notes and/or the related Guarantees or add collateral thereto; 

(j) to add an obligor or a Guarantor under this Indenture; 

  
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 (k) to conform the text of this Indenture, the Notes or any Guarantees to
any provision of the “Description of Notes” section of the Offering Memorandum; 
 (l) to make any amendment to the
provisions of this Indenture relating to the transfer and legending of Notes as permitted by this Indenture, including, without limitation to facilitate the issuance and administration of the Notes; provided, however, that such amendment does not
materially and adversely affect the rights of Holders to transfer Notes; 
 (m) to release any Guarantor from its Guarantee
pursuant to this Indenture when permitted or required by this Indenture; 
 (n) to release and discharge any Lien securing
the Notes when permitted or required by this Indenture (including pursuant to Section 4.12 hereof); and 
 (o) to comply
with the rules of any applicable securities depositary. 
 Upon the request of the Issuer, and upon receipt by the Trustee of the documents
described in Section 7.02 hereof (to the extent requested by the Trustee and subject to the last sentence of Section 9.05), the Trustee shall join with the Issuer and the Guarantors in the execution of any amended or supplemental
indenture, authorized or permitted by the terms of this Indenture and to make any further appropriate agreements and stipulations that may be therein contained, but the Trustee shall have the right, but not be obligated to, enter into such amended
or supplemental indenture that affects its own rights, duties or immunities under this Indenture or otherwise. Notwithstanding the foregoing, no Opinion of Counsel or board resolution shall be required in connection with the addition of a Subsidiary
Guarantor under this Indenture upon execution and delivery by such Subsidiary Guarantor and the Trustee of a supplemental indenture to this Indenture, the form of which is attached as Exhibit E hereto. 

Section 9.02. With Consent of Holders. Except as provided in Section 9.01 and this Section 9.02,
(i) the Issuer, the Guarantors and the Trustee may amend or supplement this Indenture, the Notes and the Guarantees with the consent of the Holders of at least a majority in principal amount of all the Notes then outstanding (including consents
obtained in connection with a purchase of, or tender offer or exchange offer for, Notes), other than Notes beneficially owned by the Issuer or its Affiliates (excluding any Debt Fund Affiliate; provided that the aggregate amount of Notes held
by any Debt Fund Affiliate shall be deemed to be not outstanding to the extent in excess of 49.9% of the amount required for all purposes of calculating whether the Holders of a majority in principal amount of the outstanding Notes have taken any
actions) and, (ii) subject to Sections 6.04 and 6.07 hereof, any existing Default or Event of Default (other than a Default or Event of Default in the payment of the principal of, premium, if any, or interest on the Notes (which shall be
considered waived only with respect to Notes held by consenting Holders), except a payment default resulting from an acceleration that has been rescinded) or compliance with any provision of this Indenture, any Guarantee or the Notes may be waived
with the consent of the Holders of a majority in principal amount of all the Notes then outstanding (including consents obtained in connection with a purchase of, or tender offer or exchange offer for, the Notes), other than Notes beneficially owned
by the Issuer or its Affiliates (excluding any Debt Fund Affiliate; provided that the aggregate amount of Notes held by any Debt Fund Affiliate shall be deemed to be not outstanding to the extent in excess of 49.9% of the amount required for
all purposes of calculating whether the Holders of a majority in principal amount of the outstanding Notes have taken any actions). 
 Upon
the request of the Issuer, and upon the filing with the Trustee of evidence satisfactory to the Trustee of the consent of the Holders as aforesaid, the Trustee shall join with the Issuer and the Guarantors in the execution of such amended or
supplemental indenture unless such amended or supplemental indenture affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise, in which case the Trustee may in its discretion, but shall not be obligated to, enter
into such amended or supplemental indenture. 
 It shall not be necessary for the consent of the Holders under this Section 9.02 to
approve the particular form of any proposed amendment or waiver, but it shall be sufficient if such consent approves the substance thereof. 

  
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 After an amendment, supplement or waiver under this Section 9.02 becomes effective, the
Issuer shall send to the Holders affected thereby a notice briefly describing the amendment, supplement or waiver. Any failure of the Issuer to send such notice, or any defect therein, shall not, however, in any way impair or affect the validity of
any such amended or supplemental indenture or waiver. 
 Without the consent of each affected Holder of Notes, an amendment or waiver under
this Section 9.02 may not, with respect to any Notes held by a non-consenting Holder: 

(a) reduce the principal amount of such Notes whose Holders must consent to an amendment, supplement or waiver; 

(b) reduce the principal of or change the fixed final maturity of any such Note or alter or waive the provisions with respect
to the redemption of such Notes (other than provisions relating to (i) notice periods (to the extent consistent with applicable requirements of clearing and settlement systems) for redemption and conditions to redemption and
(ii) Section 3.08, Section 4.10 and Section 4.14 hereof); 
 (c) reduce the rate of or change the time
for payment of interest on any such Note (other than Section 3.08, Section 4.10 and Section 4.14 hereof); 

(d) (A) waive a Default or Event of Default in the payment of principal of or premium, if any, or interest on such Notes,
except a rescission of acceleration of the Notes by the Holders of a majority in principal amount of all the then outstanding Notes, and a waiver of the payment default that resulted from such acceleration, or (B) waive a Default or Event of
Default in respect of a covenant or provision contained in this Indenture, the Notes or any Guarantee which cannot be amended or modified without the consent of all affected Holders; 

(e) make any such Note payable in money other than that stated therein; 

(f) make any change in the provisions of this Indenture relating to waivers of past Defaults; 

(g) make any change in these amendment and waiver provisions; 

(h) amend the contractual right expressly set forth in this Indenture or the Notes of any Holder to institute suit for the
enforcement of any payment on or with respect to such Holder’s Notes on or after the due dates therefor; 
 (i) make any
change to or modify the ranking of such Notes that would adversely affect the Holders; or 
 (j) except as expressly
permitted by this Indenture, modify the Guarantees of any Subsidiary Guarantor that is a Significant Subsidiary, or any group of Subsidiary Guarantors that, taken together (as of the latest consolidated financial statements of the Issuer for a
fiscal quarter end provided as required under Section 4.03 hereof), would constitute a Significant Subsidiary in any manner materially adverse to the Holders of such Notes. 

Section 9.03. Revocation and Effect of Consents. Until an amendment, supplement or waiver becomes effective,
a consent to it by a Holder of a Note is a continuing consent by the Holder of a Note and every subsequent Holder of a Note or portion of a Note that evidences the same debt as the consenting Holder’s Note, even if notation of the consent is
not made on any Note. However, any such Holder of a Note or subsequent Holder of a Note may revoke the consent as to its Note if the Trustee receives written notice of revocation before the date the amendment, supplement or waiver becomes effective.
An amendment, supplement or waiver becomes effective in accordance with its terms and thereafter binds every Holder. 
 The Issuer may, but
shall not be obligated to, fix a record date for the purpose of determining the Holders entitled to consent to any amendment, supplement, or waiver. If a record date is fixed, then, notwithstanding the preceding paragraph, those Persons who were
Holders at such record date (or their duly designated proxies), and only such Persons, shall be entitled to consent to such amendment, supplement, or waiver or to revoke any consent previously given, whether or not such Persons continue to be
Holders after such record date. No such consent shall be valid or effective for more than 120 days after such record date unless the consent of the requisite number of Holders has been obtained. 

  
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 Section 9.04. Notation on or Exchange of Notes. The Trustee
may place an appropriate notation about an amendment, supplement or waiver on any Note thereafter authenticated. The Issuer in exchange for all Notes may issue and the Trustee shall, upon receipt of an Authentication Order, authenticate new Notes
that reflect the amendment, supplement or waiver. 
 Failure to make the appropriate notation or issue a new Note shall not affect the
validity and effect of such amendment, supplement or waiver. 
 Section 9.05. Trustee to Sign Amendments,
etc. The Trustee shall sign any amendment, supplement or waiver authorized pursuant to this Article 9 if the amendment, supplement or waiver does not adversely affect the rights, duties, liabilities or immunities of the Trustee. Except as set
forth in the last sentence of this Section 9.05, the Issuer may not sign an amendment, supplement or waiver until the Board of the Issuer approves it. In executing any amendment, supplement or waiver, the Trustee shall be provided with and
(subject to Section 7.01 hereof) shall be fully protected in relying upon, in addition to the documents required by Section 12.03 hereof, an Officer’s Certificate and an Opinion of Counsel each stating that the execution of such
amended or supplemental indenture is authorized or permitted by this Indenture and that such amendment, supplement or waiver is the legal, valid and binding obligation of the Issuer and any Guarantors party thereto, enforceable against them in
accordance with its terms, subject to customary exceptions, and complies with the provisions hereof. Notwithstanding the foregoing, no Opinion of Counsel or resolution shall be required for the Trustee to execute any supplemental indenture to this
Indenture, the form of which is attached as Exhibit E hereto, adding a new Subsidiary Guarantor under this Indenture. 

Section 9.06. Additional Voting Terms; Calculation of Principal Amount. 

(a) All Notes issued under this Indenture shall vote and consent together on all matters (as to which any of such Notes may vote) as one class
and no series of Notes will have the right to vote or consent as a separate series on any matter. Determinations as to whether Holders of the requisite aggregate principal amount of Notes have concurred in any direction, waiver or consent shall be
made in accordance with this Article Nine and Section 9.06(b) hereof. 
 (b) With respect to any matter requiring consent, waiver,
approval or other action of the Holders of a specified percentage of the principal amount of all the Notes, such percentage shall be calculated, on the relevant date of determination, by dividing (i) the principal amount, as of such date of
determination, of Notes, the Holders of which have so consented by (b) the aggregate principal amount, as of such date of determination, of the Notes then outstanding, in each case, as determined in accordance with the preceding sentence,
Section 2.08 and Section 2.09 of this Indenture. Any such calculation made pursuant to this Section 9.06(b) shall be made by the Issuer and delivered to the Trustee pursuant to an Officer’s Certificate. 

Section 9.07. No Impairment of Right of Holders to Receive Payment. For the avoidance of doubt, no amendment
to, or deletion of any of the covenants under Article 4 or Article 5 or action taken in compliance with the covenants in effect at the time of such action, shall be deemed to impair or affect any legal rights of any Holders of the Notes to receive
payment of principal of or premium, if any, or interest on the Notes or to institute suit for the enforcement of any payment on or with respect to such Holder’s Notes. 

ARTICLE 10 
 GUARANTEES 

Section 10.01. Guarantee. Subject to this Article 10, from and after the Issue Date, each of the Guarantors
hereby, jointly and severally, irrevocably and unconditionally, as a primary obligor and not merely as a surety, guarantees, on a senior unsecured basis, to each Holder of a Note authenticated and delivered by the Trustee and to the Trustee and its
successors and assigns, irrespective of the validity and enforceability of this Indenture, the Notes or the Obligations of the Issuer hereunder or thereunder, that: (a) the principal of and interest and premium, if any,

  
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on the Notes shall be promptly paid in full when due, whether at maturity, by acceleration, redemption or otherwise, and interest on the overdue principal of and interest on the Notes, if any, if
lawful, and all other Obligations of the Issuer to the Holders or the Trustee hereunder or under the Notes shall be promptly paid in full, all in accordance with the terms hereof and thereof; and (b) in case of any extension of time of payment
or renewal of any Notes or any of such other obligations, that same shall be promptly paid in full when due in accordance with the terms of the extension or renewal, whether at stated maturity, by acceleration or otherwise. Each Guarantor agrees
that this is a guarantee of payment and not a guarantee of collection. All payments under each Guarantee will be made in U.S. dollars. 

The Guarantors hereby agree that their obligations hereunder are equivalent to the obligations of a primary obligor and shall be
unconditional, irrespective of the validity, regularity or enforceability of the Notes or this Indenture, the absence of any action to enforce the same, any waiver or consent by any Holder with respect to any provisions hereof or thereof, the
recovery of any judgment against the Issuer any action to enforce the same or any other circumstance which might otherwise constitute a legal or equitable discharge or defense of a guarantor (other than payment in full of all of the Obligations of
the Issuer hereunder or under the Notes). Each Guarantor hereby waives, to the fullest extent permitted by law, diligence, presentment, demand of payment, filing of claims with a court in the event of insolvency or bankruptcy of the Issuer, any
right to require a proceeding first against the Issuer, protest, notice and all demands whatsoever and covenants that this Guarantee shall not be discharged except by full payment of the obligations contained in the Notes and this Indenture or by
release in accordance with the provisions of this Indenture. 
 Each Guarantor also agrees to pay any and all costs and expenses (including
reasonable attorneys’ fees) incurred by the Trustee or any Holder in enforcing any rights under this Section 10.01. 
 If any
Holder or the Trustee is required by any court or otherwise to return to the Issuer, the Guarantors or any custodian, trustee, liquidator or other similar official acting in relation to either the Issuer or the Guarantors, any amount paid either to
the Trustee or such Holder, then this Guarantee, to the extent theretofore discharged, shall be reinstated in full force and effect. 
 Each
Guarantor agrees that it shall not be entitled to any right of subrogation in relation to the Holders in respect of any obligations guaranteed hereby until payment in full of all obligations guaranteed hereby. Each Guarantor further agrees that, as
between the Guarantors, on the one hand, and the Holders and the Trustee, on the other hand, (x) the maturity of the obligations guaranteed hereby may be accelerated as provided in Article 6 hereof for the purposes of this Guarantee,
notwithstanding any stay, injunction or other prohibition preventing such acceleration in respect of the obligations guaranteed hereby, and (y) in the event of any declaration of acceleration of such obligations as provided in Article 6 hereof,
such obligations (whether or not due and payable) shall forthwith become due and payable by the Guarantors for the purpose of this Guarantee. The Subsidiary Guarantors shall have the right to seek contribution from any nonpaying Subsidiary Guarantor
so long as the exercise of such right does not impair the rights of the Holders under the Guarantees. Each Subsidiary Guarantor that makes a payment under its Guarantee shall, to the fullest extent permitted by applicable law, be entitled upon
payment in full of all guaranteed obligations under this Indenture to a contribution from each other Subsidiary Guarantor in an amount equal to such other Subsidiary Guarantor’s pro rata portion of such payment based on the respective net
assets of all the Subsidiary Guarantors at the time of such payment determined in accordance with GAAP. 
 Until terminated in accordance
with Section 10.06, each Guarantee shall remain in full force and effect and continue to be effective should any petition be filed by or against the Issuer for liquidation or reorganization, should the Issuer become insolvent or make an
assignment for the benefit of creditors or should a receiver or trustee be appointed for all or any significant part of the Issuer’s assets, and shall, to the fullest extent permitted by law, continue to be effective or be reinstated, as the
case may be, if at any time payment of the Notes is, pursuant to applicable law, rescinded or reduced in amount, or must otherwise be restored or returned by any obligee on the Notes or Guarantees, whether as a “voidable preference,”
“fraudulent transfer” or otherwise, all as though such payment had not been made. In the event that any payment or any part thereof, is rescinded, reduced, restored or returned, the Notes shall, to the fullest extent permitted by law, be
reinstated and deemed reduced only by such amount paid and not so rescinded, reduced, restored or returned. 

  
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 In case any provision of any Guarantee shall be invalid, illegal or unenforceable, the
validity, legality, and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 
 The Guarantee
issued by any Guarantor shall be a general senior unsecured obligation of such Guarantor and shall be pari passu in right of payment with all existing and future Senior Indebtedness of such Guarantor. 

Each payment to be made by a Guarantor in respect of its Guarantee shall be made without set-off,
counterclaim, reduction or diminution of any kind or nature. 
 Section 10.02. Limitation on Subsidiary
Guarantor Liability. Each Subsidiary Guarantor, and by its acceptance of Notes, each Holder, hereby confirms that it is the intention of all such parties that the Guarantee of such Subsidiary Guarantor not constitute a fraudulent transfer or
conveyance for purposes of Bankruptcy Law, the Uniform Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any similar federal or state law to the extent applicable to any Guarantee. To effectuate the foregoing intention, the Trustee,
the Holders and the Subsidiary Guarantors hereby irrevocably agree that the obligations of each Subsidiary Guarantor shall be limited to the maximum amount as will, after giving effect to such maximum amount and all other contingent and fixed
liabilities of such Subsidiary Guarantor that are relevant under such laws and after giving effect to any collections from, rights to receive contribution from or payments made by or on behalf of any other Subsidiary Guarantor in respect of the
obligations of such other Subsidiary Guarantor under this Article 10, result in the obligations of such Subsidiary Guarantor under its Guarantee not constituting a fraudulent conveyance or fraudulent transfer under applicable law or being void or
voidable under any law relating to insolvency of debtors. 
 Section 10.03. Execution and Delivery. To
evidence its Guarantee set forth in Section 10.01 hereof, subject to Section 10.06 hereof, each Guarantor hereby agrees that this Indenture (or a supplemental indenture in the form of Exhibit E hereto) shall be executed on behalf of
such Guarantor by one of its authorized officers. 
 Each Guarantor hereby agrees that its Guarantee set forth in Section 10.01 hereof
shall remain in full force and effect notwithstanding the absence of the endorsement of any notation of such Guarantee on the Notes. 
 If
an officer whose signature is on this Indenture (or a supplemental indenture in the form of Exhibit E hereto) no longer holds that office at the time the Trustee authenticates a Note, the Guarantee of such Guarantor shall be valid
nevertheless. 
 The delivery of any Note by the Trustee, after the authentication thereof hereunder, shall constitute due delivery of the
Guarantee set forth in this Indenture on behalf of the Guarantors. 
 If required by Section 4.15 hereof, the Issuer shall cause any
Restricted Subsidiary to comply with the provisions of Section 4.15 hereof and this Article 10, to the extent applicable. 

Section 10.04. Subrogation. Each Guarantor shall be subrogated to all rights of Holders against the Issuer in
respect of any amounts paid by any Guarantor pursuant to the provisions of Section 10.01 hereof; provided that, if an Event of Default has occurred and is continuing, no Guarantor shall be entitled to enforce or receive any payments
arising out of, or based upon, such right of subrogation until all amounts then due and payable by the Issuer under this Indenture or the Notes shall have been paid in full. 

Section 10.05. Benefits Acknowledged. Each Guarantor acknowledges that it will receive direct and indirect
benefits from the financing arrangements contemplated by this Indenture and that the guarantee and waivers made by it pursuant to its Guarantee are knowingly made in contemplation of such benefits. 

Section 10.06. Release of Guarantees. Each Guarantee by a Guarantor shall be automatically and
unconditionally released and discharged, and shall thereupon terminate and be of no further force and effect, and no further action by such Guarantor, the Issuer or the Trustee is required for the release of such Guarantor’s Guarantee, upon:

  
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 (A) in the case of a Subsidiary Guarantor, any sale, exchange, issuance
disposition or transfer (by merger, amalgamation, consolidation, dividend, distribution or otherwise) of (x) the Capital Stock of such Subsidiary Guarantor, after which the applicable Subsidiary Guarantor is no longer a Restricted Subsidiary or
(y) all or substantially all the assets of such Subsidiary Guarantor, in each case if such sale, exchange, issuance, disposition or transfer is made in compliance with or is not prohibited by the applicable provisions of this Indenture
(including any amendments thereof); 
 (B) in the case of a Subsidiary Guarantor, the release or discharge of such other
guarantee or direct obligation that resulted in the creation of such Guarantee, except a discharge or release by or as a result of payment under such guarantee or direct obligation (it being understood that a release subject to a contingent
reinstatement will constitute a release for the purposes of this provision, and that if any such guarantee is so reinstated, such Guarantee shall also be reinstated to the extent that such Guarantor would then be required to provide a Guarantee
pursuant to Section 4.15 hereof); 
 (C) in the case of a Subsidiary Guarantor, the designation of any Restricted
Subsidiary that is a Subsidiary Guarantor as an Unrestricted Subsidiary in compliance with the applicable provisions of this Indenture or the occurrence of any event following which the Subsidiary Guarantor is no longer a Restricted Subsidiary in
compliance with the applicable provisions of this Indenture; 
 (D) upon the merger, amalgamation, consolidation or Division
of any Guarantor with and into the Issuer or another Guarantor or upon the liquidation or winding up of such Guarantor, in each case, in compliance with or in a manner not prohibited by the applicable provisions of this Indenture; 

(E) the occurrence of a Covenant Suspension Event; 

(F) as provided under Article 9; 

(G) the exercise by the Issuer of its Legal Defeasance option or Covenant Defeasance option in accordance with Article 8 hereof
or the discharge of the Issuer’s obligations under this Indenture in accordance with the terms of this Indenture; or 

(H) in the case of the Parent Guarantor, if the Parent Guarantor ceases to be the direct parent of the Issuer as a result of a
transaction or designation permitted pursuant to the definition of “Parent Guarantor.” 
 Notwithstanding clause (E) above,
if, after any Covenant Suspension Event, a Reversion Date shall occur, then the Suspension Period with respect to such Covenant Suspension Event shall terminate and all actions reasonably necessary to provide that the Notes shall have been
unconditionally guaranteed by each Subsidiary Guarantor (to the extent such guarantee is required by Section 4.15 hereof) shall be taken within 90 days after such Reversion Date or as soon as reasonably practicable thereafter. 

ARTICLE 11 
 SATISFACTION AND
DISCHARGE 
 Section 11.01. Satisfaction and Discharge. This Indenture with respect to the Notes (other
than certain rights of the Trustee and the Issuer’s obligations with respect thereto) shall be discharged and shall cease to be of further effect as to all Notes when either: 

(a) all Notes theretofore authenticated and delivered, except lost, stolen or destroyed Notes which have been replaced or paid
and Notes for whose payment money has theretofore been deposited in trust, have been delivered to the Trustee for cancellation; or 

  
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 (b) (i) all Notes not theretofore delivered to the Trustee for
cancellation have become due and payable by reason of the making of a notice of redemption or otherwise, will become due and payable within one year or are to be called for redemption within one year under arrangements satisfactory to the Trustee
for the giving of notice of redemption by the Trustee in the name, and at the expense, of the Issuer, and the Issuer or any Guarantor has irrevocably deposited or caused to be deposited with the Trustee as trust funds in trust solely for the benefit
of the Holders of the Notes, cash in U.S. dollars, U.S. Government Securities, or a combination thereof, in such amounts as will be sufficient without consideration of any reinvestment to pay and discharge the entire indebtedness on the Notes not
theretofore delivered to the Trustee for cancellation for principal, premium, if any, and accrued interest to the date of maturity or redemption; provided that upon any redemption that requires the payment of the Applicable Premium, the
amount deposited shall be sufficient for purposes of this Indenture to the extent that an amount is deposited with the Trustee equal to the Applicable Premium calculated as of the date of the notice of redemption, with any Applicable Premium Deficit
only required to be deposited with the Trustee on or prior to the Redemption Date. Any Applicable Premium Deficit shall be set forth in an Officer’s Certificate delivered to the Trustee simultaneously with the deposit of such Applicable Premium
Deficit that confirms that such Applicable Premium Deficit shall be applied toward such redemption; 
 (ii) no Event of
Default (other than that resulting from borrowing funds to be applied to make such deposit or any similar and simultaneous deposit relating to other Indebtedness and, in each case, the granting of Liens in connection therewith) with respect to this
Indenture of Notes or the Notes shall have occurred and be continuing on the date of such deposit or shall occur as a result of such deposit and such deposit will not result in a breach or violation of, or constitute a default under, any material
agreement or instrument (other than this Indenture) to which the Issuer or any Guarantor is a party or by which the Issuer or any Guarantor is bound (other than resulting from any borrowing of funds to be applied to make such deposit and any similar
and simultaneous deposit relating to other Indebtedness and, in each case, the granting of Liens in connection therewith); 

(iii) the Issuer has paid or caused to be paid all sums payable by them under this Indenture of Notes; and 

(iv) the Issuer has delivered irrevocable instructions to the Trustee to apply the deposited money toward the payment of the
Notes at maturity or the Redemption Date, as the case may be. 
 In addition, the Issuer must deliver an Officer’s Certificate and an
Opinion of Counsel to the Trustee stating that all conditions precedent to satisfaction and discharge have been satisfied. Such Opinion of Counsel may rely on such Officer’s Certificate as to matters of fact, including clauses (b)(i), (ii),
(iii) and (iv) above. 
 Notwithstanding the satisfaction and discharge of this Indenture, the provisions of Section 7.06 shall
survive and if money shall have been deposited with the Trustee pursuant to clause (b)(i) of this Section 11.01, the provisions of Section 11.02 and Section 8.06 hereof shall survive such satisfaction and discharge. 

Section 11.02. Application of Trust Money. Subject to the provisions of Section 8.06 hereof, all money
or U.S. Government Securities deposited with the Trustee pursuant to Section 11.01 hereof shall be held in trust and applied by it, in accordance with the provisions of the Notes and this Indenture, to the payment, either directly or through
any Paying Agent (including the Issuer or a Subsidiary Guarantor acting as its own Paying Agent) as the Trustee may determine, to the Persons entitled thereto, of the principal (and premium, if any) and interest for whose payment such money or U.S.
Government Securities has been deposited with the Trustee; but such money or U.S. Government Securities need not be segregated from other funds except to the extent required by law. 

If the Trustee or Paying Agent is unable to apply any money or U.S. Government Securities in accordance with Section 11.01 hereof by
reason of any legal proceeding or by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, the Issuer’s and any Guarantor’s obligations under this Indenture
and the Notes shall be revived and reinstated as though no deposit had occurred pursuant to Section 11.01 hereof; provided that if the Issuer has made any payment of principal of, premium, if any, or interest on any Notes because of the
reinstatement of its obligations, the Issuer shall be subrogated to the rights of the Holders to receive such payment from the money or U.S. Government Securities held by the Trustee or Paying Agent. 

  
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 ARTICLE 12 

MISCELLANEOUS 

Section 12.01. Notices. Any notice or communication by the Issuer, any Guarantor or the Trustee to the others
is duly given if in writing in English and by publication on the website or online data system maintained in accordance with Section 4.03 (including the SEC’s EDGAR system; provided that such publication shall not constitute valid
notice with respect to notices or communications by the Issuer or any Guarantor to the Trustee) or delivered in person or mailed by first-class mail (registered or certified, return receipt requested), facsimile, electronic mail or other electronic
transmission or overnight air courier guaranteeing next day delivery, to the others’ address: 
 If to the Issuer and/or any Guarantor:

 Finance of America Funding LLC 

909 Lake Carolyn Parkway, Suite 1550 

Irving, Texas 75039 
 Attention:
General Counsel 
 Telephone: [phone number] 

With a copy to (which shall not constitute notice for any purpose under this Indenture): 

Simpson Thacher & Bartlett LLP 

425 Lexington Avenue 
 New York,
New York 10017 
 Facsimile No.: [fax number] 

Attention: Jonathan Ozner, Esq. 

If to the Trustee, Paying Agent, and Registrar: 

U.S. Bank National Association 

1 Federal Street 
 Boston, MA
02210 
 Electronic Mail: [email address] 

Attention: Global Corporate Trust Services – Finance of America Funding LLC 

The Issuer, any Guarantor or the Trustee, by notice to the others, may designate additional or different addresses for subsequent notices or
communications. 
 All notices and communications (other than those sent to Holders) shall be deemed to have been duly given: at the time
delivered by hand, if personally delivered; five calendar days after being deposited in the mail, postage prepaid, if mailed by first-class mail; when receipt is acknowledged, if faxed or sent electronically; the next Business Day after timely
delivery to the courier, if sent by overnight air courier guaranteeing next day delivery; and on the date sent to DTC if otherwise given in accordance with the procedures of DTC; provided that any notice or communication delivered to the
Trustee shall be deemed effective upon actual receipt thereof and on the first date on which publication is made, if given by publication (including by posting of information on the website or online data system maintained in accordance with
Section 4.03). 
 Any notice or communication to a Holder shall be electronically delivered, mailed by first-class mail, certified or
registered, return receipt requested, by overnight air courier guaranteeing next day delivery to its address shown on the Note Register kept by the Registrar or otherwise in accordance with the procedures of DTC. Failure to deliver a notice or
communication to a Holder or any defect in it shall not affect its sufficiency with respect to other Holders. 
 If a notice or
communication is mailed or otherwise delivered in the manner provided above within the time prescribed, such notice or communication shall be deemed duly given, whether or not the addressee receives it. 

  
 -135- 

 If the Issuer sends a notice or communication to Holders, they shall send a copy to the
Trustee and each Agent at the same time. 
 Notwithstanding any other provision of this Indenture or any Note, where this Indenture or any
Note provides for notice of any event or any other communication (including any notice of redemption or repurchase) to a holder of a Global Note (whether by mail or otherwise), such notice shall be sufficiently given if given to the Depositary (or
its designee) pursuant to the standing instructions from the Depositary or its designee, including by electronic mail in accordance with accepted practices at the Depositary. 

The Trustee agrees to accept and act upon instructions or directions pursuant to this Indenture sent by unsecured email, facsimile
transmission or other similar unsecured electronic methods; provided, however, that (a) the party providing such written instructions, subsequent to such transmission of written instructions, shall provide the originally executed
instructions or directions to the Trustee in a timely manner, and (b) such originally executed instructions or directions shall be signed by an authorized representative of the party providing such instructions or directions. If the party
elects to give the Trustee email or facsimile instructions (or instructions by a similar electronic method) and the Trustee in its discretion elects to act upon such instructions, the Trustee’s understanding of such instructions shall be deemed
controlling. 
 The Trustee shall not be liable for any losses, costs or expenses arising directly or indirectly from the Trustee’s
reliance upon and compliance with such instructions notwithstanding such instructions conflict or are inconsistent with a subsequent written instruction. The party providing electronic instructions to the Trustee agrees to assume all risks arising
out of the use of such electronic methods to submit instructions and directions to the Trustee, including, without limitation, the risk of the Trustee acting on unauthorized instructions, and the risk of interception and misuse by third parties.

 Section 12.02. [Reserved]. 

Section 12.03. Certificate and Opinion as to Conditions Precedent. Upon any request or application by the
Issuer or any of the Guarantors to the Trustee to take any action under this Indenture, the Issuer or such Guarantor, as the case may be, shall furnish to the Trustee: 

(a) an Officer’s Certificate in form reasonably satisfactory to the Trustee (which shall include the statements set forth
in Section 12.04 hereof) stating that, in the opinion of the signer, all conditions precedent and covenants, if any, provided for in this Indenture relating to the proposed action have been satisfied; and 

(b) an Opinion of Counsel in form reasonably satisfactory to the Trustee (which shall include the statements set forth in
Section 12.04 hereof) stating that, in the opinion of such counsel, all such conditions precedent and covenants have been satisfied; provided that no such Opinion of Counsel shall be delivered in connection with the issuance of the
Initial Notes. 
 Section 12.04. Statements Required in Certificate or Opinion. Each certificate or opinion
with respect to compliance with a condition or covenant provided for in this Indenture (other than a certificate provided pursuant to Section 4.04 hereof) shall include: 

(a) a statement that the Person making such certificate or opinion has read such covenant or condition; 

(b) a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions
contained in such certificate or opinion are based; 
 (c) a statement that, in the opinion of such Person, he or she has
made such examination or investigation as is necessary to enable him or her to express an informed opinion as to whether or not such covenant or condition has been complied with (and, in the case of an Opinion of Counsel, may be limited to reliance
on an Officer’s Certificate as to matters of fact); and 

  
 -136- 

 (d) a statement as to whether or not, in the opinion of such Person, such
condition or covenant has been complied with; provided, however, that with respect to matters of fact an Opinion of Counsel may rely on an Officer’s Certificate or certificates of public officials. 

Section 12.05. Rules by Trustee and Agents. The Trustee may make reasonable rules for action by or at a
meeting of Holders. The Registrar or Paying Agent may make reasonable rules and set reasonable requirements for its functions. 

Section 12.06. No Personal Liability of Directors, Officers, Employees and Stockholders. No past, present or
future director, manager, officer, employee, incorporator, member, partner or direct or indirect equityholder of the Issuer or any Restricted Subsidiaries or of any of their direct or indirect parent companies (other than in such equityholder’s
capacity as the Issuer or a Guarantor) shall have any liability for any obligations of the Issuer or the Subsidiary Guarantors under the Notes, the Guarantees or this Indenture or any supplemental indenture or for any claim based on, in respect of,
or by reason of such obligations or their creation. Each Holder by accepting Notes waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Notes. 

Section 12.07. Governing Law. THIS INDENTURE, THE NOTES AND ANY GUARANTEE, AND ANY CLAIM, CONTROVERSY OR
DISPUTE ARISING UNDER OR RELATED TO THIS INDENTURE, THE NOTES OR ANY GUARANTEE, WILL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 

Section 12.08. Waiver of Jury Trial. EACH OF THE ISSUER, THE GUARANTORS AND THE TRUSTEE (1) AGREES TO
SUBMIT TO THE NON-EXCLUSIVE JURISDICTION OF ANY UNITED STATES FEDERAL OR STATE COURT LOCATED IN THE BOROUGH OF MANHATTAN, IN THE CITY OF NEW YORK IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS
INDENTURE OR THE NOTES AND (2) HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE NOTES OR THE TRANSACTIONS
CONTEMPLATED HEREBY. 
 Section 12.09. Force Majeure. In no event shall the Trustee be responsible or
liable for any failure or delay in the performance of its obligations under this Indenture arising out of or caused by, directly or indirectly, forces beyond its reasonable control, including, without limitation, strikes, work stoppages, accidents,
acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software or hardware) services or the unavailability of the
Federal Reserve Bank wire or facsimile or other wire or communication facility. 
 Section 12.10. No Adverse
Interpretation of Other Agreements. This Indenture may not be used to interpret any other indenture, loan or debt agreement of the Issuer or its Restricted Subsidiaries or of any other Person. Any such indenture, loan or debt agreement may not
be used to interpret this Indenture. 
 Section 12.11. Successors. All agreements of the Issuer in this
Indenture and the Notes shall bind its successors. All agreements of the Trustee in this Indenture shall bind its successors. All agreements of each Guarantor in this Indenture shall bind its successors, except as otherwise provided in
Section 10.06 hereof. 
 Section 12.12. Severability. In case any provision in this Indenture or in
the Notes shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

Section 12.13. Counterpart Originals. The parties may sign any number of copies of this Indenture. Each
signed copy shall be an original, but all of them together represent the same agreement. This Indenture may be executed in multiple counterparts which, when taken together, shall constitute one instrument. The exchange of copies of this Indenture
and of signature pages by facsimile or other electronic transmission (e.g., a “pdf” or “tif”) and other electronic signatures (including, without limitation, DocuSign and AdobeSign) shall constitute effective execution and
delivery of this Indenture as to the parties hereto and may be used in lieu of the original Indenture for 

  
 -137- 

 
all purposes. Signatures of the parties hereto transmitted by facsimile or other electronic transmission (e.g., a “pdf” or “tif”) and other electronic signatures (including,
without limitation, DocuSign and AdobeSign) shall be deemed to be their original signatures for all purposes. The use of electronic signatures and electronic records (including, without limitation, any contract or other record created, generated,
sent, communicated, received, or stored by electronic means) shall be of the same legal effect, validity and enforceability as a manually executed signature or use of a paper-based record-keeping system to the fullest extent permitted by applicable
law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act and any other applicable law, including, without limitation, any state law based on the Uniform Electronic
Transactions Act or the Uniform Commercial Code. 
 Section 12.14. Table of Contents, Headings, etc. The
Table of Contents, Cross-Reference Table and headings of the Articles and Sections of this Indenture have been inserted for convenience of reference only, are not to be considered a part of this Indenture and shall in no way modify or restrict any
of the terms or provisions hereof. 
 Section 12.15. Trust Indenture Act. The Issuer and the Guarantors
shall not be required to qualify this Indenture under the Trust Indenture Act. The Trust Indenture Act shall not apply to this Indenture prior to any such qualification, and all references herein to compliance with the Trust Indenture Act refer to
such compliance following any such qualification. 
 Section 12.16. USA Patriot Act. In order to comply
with the laws, rules, regulations and executive orders in effect from time to time applicable to banking institutions, including, without limitation, those relating to the funding of terrorist activities and money laundering, including
Section 326 of the USA PATRIOT Act of the United States (“Applicable AML Law”), the Trustee and the Agents are required to obtain, verify, record and update certain information relating to individuals and entities which
maintain a business relationship with the Trustee and the Agents are. Accordingly, each of the parties agree to provide to the Trustee and the Agents are, upon their request from time to time such identifying information and documentation as may be
available for such party in order to enable the Trustee and the Agents are to comply with Applicable AML Law. 
 [Signatures on following
page] 

  
 -138- 

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

					
	FINANCE OF AMERICA FUNDING LLC, as Issuer
		
	By:	 	 /s/ Graham Fleming

		 	Name:	 	Graham Fleming
		 	Title:	 	President
	
	FINANCE OF AMERICA EQUITY CAPITAL LLC, as Parent Guarantor
		
	By:	 	 /s/ Graham Fleming

		 	Name:	 	Graham Fleming
		 	Title:	 	President

 [Signature page to Finance of America Indenture] 

 
					
	 129 WT CHARLOTTE LLC

BNT CANYON LLC
 BNT ESCROW SERVICES LLC

BNT INSIGNIA LLC
 BNT OF ALABAMA LLC

BNT OF ARIZONA, LLC
 BNT OF ARKANSAS LLC

BNT OF KENTUCKY LLC
 BNT OF NEW MEXICO LLC

BNT OF TEXAS, LLC
 BNT OF UTAH LLC

	 BNT TITLE COMPANY OF CALIFORNIA

BNT VIRTUAL HOLDINGS LLC
 BOSTON NATIONAL HOLDINGS LLC

BOSTON NATIONAL TITLE AGENCY, LLC
 CAMPUS DOOR HOLDINGS INC.

FINANCE OF AMERICA FARM FINANCE LLC
 FINANCE OF AMERICA HOLDINGS
LLC
 FINANCE OF AMERICA MORTGAGE LLC
 FINANCE OF AMERICA
REVERSE LLC
 HTJV HOLDINGS, LLC

	 IMAC ADVISORY SERVICES LLC

INCENTER ABSTRACT LLC
 INCENTER AGENCY SOLUTIONS LLC

INCENTER APPRAISAL MANAGEMENT LLC
 INCENTER INSURANCE SOLUTIONS
LLC
 INCENTER LLC
 INCENTER MORTGAGE ADVISORS LLC

INCENTER SECONDARY MARKET ADVISORS LLC
 SILVERNEST, INC.

THE CLOSER, LLC, as Subsidiary Guarantors

		
	By:	 	 /s/ Graham Fleming

		 	Name:	 	Graham Fleming
		 	Title:	 	Chief Administrative Officer

 [Signature page to Finance of America Indenture] 

 
					
	BNT TITLE COMPANY OF CALIFORNIA
		
	By:	 	 /s/ John Keratsis

		 	Name:	 	John Keratsis
		 	Title:	 	Chief Executive Officer

 [Signature page to Finance of America Indenture] 

 
			
	BNT OF ARIZONA, LLC
	
	By: BNT TITLE COMPANY OF CALIFORNIA, its sole Member
		
	By:	 	 /s/ John Keratsis

	Name:	 	John Keratsis
	Title:	 	Chief Executive Officer

 [Signature page to Finance of America Indenture] 

 
					
	U.S. BANK NATIONAL ASSOCIATION, as Trustee
		
	By:	 	 /s/ Karen R. Beard

		 	Name:	 	Karen R. Beard
		 	Title:	 	Vice President

 [Signature page to Finance of America Indenture] 

 

 EXHIBIT A 

[FORM OF NOTE] 
 [FACE OF NOTE]

 [Insert the Global Note Legend, if applicable pursuant to the provisions of the Indenture] 

[Insert the Private Placement Legend, if applicable pursuant to the provisions of the Indenture] 

[Insert the Regulation S Temporary Global Note Legend, if applicable pursuant to the provisions of the Indenture] 

  
 A-1 

 CUSIP [________]1 

ISIN [________]2 

[RULE 144A][REGULATION S][IAI] [GLOBAL] NOTE 

representing [up to] 
 $[__________]

 7.875% Senior Notes due 2025 
  

			
	No. ___	  	[$__________]

 Finance of America Funding LLC, a Delaware limited liability company, promises to pay to [Cede & Co.]* or registered
assigns the principal sum [set forth on the Schedule of Exchanges of Interests in the Global Note attached hereto] [of _______________ United States dollars] on November 15, 2025. 

 

			
	Interest Payment Dates:	  	May 15 and November 15, commencing on [May 15, 2021]
		
	Record Dates:	  	May 1 and November 1

 Additional provisions of this Note are set forth on the other side of this Note. 

* Include only if the Note is issued in global form. 
  

 

	1 	 317386 AA8 (144A); U30385 AA3 (Reg S); 317386 AB6 (IAI) 

	2 	 US317386AA83 (144A); USU30385AA37 (Reg S); US317386AB66 (IAI) 

  
 A-2 

 IN WITNESS HEREOF, the Issuer has caused this instrument to be duly executed. 

Dated: 
  

			
	FINANCE OF AMERICA FUNDING LLC, as Issuer
		
	By:	 	  

		 	Name:
		 	Title:

  
 A-3 

 
			
	This is one of the Notes referred to in the within-mentioned Indenture:
	
	U.S. BANK NATIONAL ASSOCIATION, as Trustee
		
	By:	 	  

		 	Authorized Signatory
	Date:	 	                                      
  

  
 A-4 

 [REVERSE OF NOTE] 

7.875% Senior Notes due 2025 

Capitalized terms used herein shall have the meanings assigned to them in the Indenture referred to below unless otherwise indicated. 

1. Interest. Finance of America Funding LLC, a Delaware limited liability company (the “Issuer”), promises to pay
interest on the principal amount of this Note at a rate per annum of 7.875% from November 5, 2020 until maturity. The Issuer will pay interest on this Note semi-annually in arrears on May 15 and November 15 of each year, beginning
May 15, 2021, or, if any such day is not a Business Day, on the next succeeding Business Day (each, an “Interest Payment Date”). The Issuer will make each interest payment to the Holder of record of this Note on the immediately
preceding May 1 and November 1 (whether or not a Business Day) (each, a “Record Date”). Interest on this Note will accrue from the most recent date to which interest has been paid or, if no interest has been paid, from and
including November 5, 2020. The Issuer will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to time on demand at the rate borne by this Note; the
Issuer shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate borne by this Note.
Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. 

2. Method of Payment. The Issuer will pay interest on this Note to the Person who is the registered Holder of this Note at the close of
business on the Record Date (whether or not a Business Day) next preceding the Interest Payment Date, even if this Note is cancelled after such Record Date and on or before such Interest Payment Date, except as provided in Section 2.12 of the
Indenture with respect to defaulted interest. Cash payments of principal of, premium, if any, and interest on this Note will be payable at the office or agency of the Issuer maintained for such purpose pursuant to Section 4.02 of the Indenture
or, at the option of the Issuer, cash payment of interest may be made through the Paying Agent by check mailed to the Holders at their respective addresses set forth in the Note Register of Holders; provided that (a) all cash payments of
principal, premium, if any, and interest with respect to Notes represented by Global Notes registered in the name of or held by DTC or its nominee will be made through the Paying Agent by wire transfer of immediately available funds to the accounts
specified by the registered Holder or Holders thereof and (b) all cash payments of principal, premium, if any, and interest with respect to certificated Notes may, at the option of the Issuer, be made by wire transfer to a U.S. dollar account
maintained by the payee with a bank in the United States of America if such Holder elects payment by wire transfer by giving written notice to the Trustee or the Paying Agent to such effect designating such account no later than 30 days immediately
preceding the relevant due date for payment (or such other date as the Trustee may accept in its discretion). Such payment shall be in such coin or currency of the United States of America as at the time of payment is legal tender for payment of
public and private debts. 
 3. Paying Agent, Transfer Agent and Registrar. Initially, U.S. Bank National Association, the Trustee
under the Indenture, will act as Paying Agent, Transfer Agent and Registrar. The Issuer may change any Paying Agent, Transfer Agent or Registrar without prior notice to the Holders. The Issuer or any of its Subsidiaries may act in any such capacity.

 4. Indenture. The Issuer issued the Notes under an Indenture, dated as of November 5, 2020 (as amended, supplemented or
otherwise modified from time to time, the “Indenture”), among the Issuer, the Guarantors party thereto from time to time and the Trustee. This Note is one of a duly authorized issue of notes of the Issuer designated as its 7.875%
Senior Notes due 2025. The Issuer shall be entitled to issue Additional Notes pursuant to Sections 2.01 and 4.09 of the Indenture. The terms of the Notes include those stated in the Indenture. The Notes are subject to all such terms, and Holders are
referred to the Indenture for a statement of such terms. To the extent any provision of this Note conflicts with the express provisions of the Indenture, the provisions of the Indenture shall govern and be controlling. 

  
 A-5 

 5. Optional Redemption. 

(a) Except as set forth in clauses (b), (d) and (e) of this paragraph 5 and in clauses (b), (d) and (e) of Section 3.07 of the
Indenture, the Notes will not be redeemable at the Issuer’s option prior to November 15, 2022. 
 (b) At any time prior to
November 15, 2022, the Issuer may, at its option and on one or more occasions, redeem all or a part of the Notes, upon notice in accordance with Section 3.03 of the Indenture, at a redemption price equal to the sum of (A) 100.0% of the
principal amount of the Notes redeemed, plus (B) the Applicable Premium as of the Redemption Date, plus (C) accrued and unpaid interest, if any, to, but excluding, the Redemption Date, subject to the right of Holders of record on the
relevant Record Date to receive interest due on the Notes on the relevant Interest Payment Date falling prior to or on the Redemption Date. 

(c) At any time on and after November 15, 2022, the Issuer may, at its option and on one or more occasions, redeem all or a part of the
Notes, upon notice in accordance with Section 3.03 of the Indenture, at the redemption prices (expressed as percentages of principal amount of the Notes to be redeemed) set forth below, plus accrued and unpaid interest, if any, thereon to, but
excluding, the applicable Redemption Date, subject to the right of Holders of record on the relevant Record Date to receive interest due on the relevant Interest Payment Date falling prior to or on the Redemption Date, if redeemed during the
twelve-month period beginning on November 15 of each of the years indicated below: 
  

					
	 Year
	  	Notes
Redemption
Price	 
	 2022
	  	 	103.938	% 
	 2023
	  	 	101.969	% 
	 2024 and thereafter
	  	 	100.000	% 

 (d) At any time prior to November 15, 2022, the Issuer may, at its option and on one or more occasions,
redeem (i) an aggregate principal amount of Notes not to exceed the amount of the Net Cash Proceeds received by the Issuer from one or more Equity Offerings or a capital contribution to the Issuer made with the Net Cash Proceeds of one or more
Equity Offerings, upon notice in accordance with Section 3.03 hereof, at a redemption price equal to (i) 107.875% of the aggregate principal amount of the Notes redeemed, plus (ii) accrued and unpaid interest, if any, to, but excluding,
the Redemption Date, subject to the right of Holders of Notes of record on the relevant Record Date to receive interest due on the Notes on the relevant Interest Payment Date falling prior to or on the Redemption Date; provided that
(A) the amount redeemed shall not exceed 40% of the aggregate principal amount of the Notes issued under this Indenture (including any Additional Notes); (B) at least 50% of the aggregate principal amount of the Notes originally issued under
this Indenture on the Issue Date remains outstanding immediately after the occurrence of each such redemption (unless all Notes are redeemed or repurchased substantially concurrently); and (C) each such redemption occurs within 180 days of the
date of closing of the applicable Equity Offering. 
 (e) Notwithstanding the foregoing, in connection with any tender offer, Change of
Control Offer, Alternate Offer, Asset Sale Offer or Advance Offer for the Notes, if Holders of not less than 90% in aggregate principal amount of the then outstanding Notes validly tender and do not validly withdraw such Notes in such offer and the
Issuer, or any third party making such offer in lieu of the Issuer, purchase all of the Notes validly tendered and not validly withdrawn by such Holders, all of the Holders of the Notes will be deemed to have consented to such tender or other offer,
and accordingly the Issuer or such third party will have the right upon not less than 10 days nor more than 60 days’ prior notice, given not more than 60 days following such purchase date, to redeem all Notes that remain outstanding following
such purchase at a price equal to the price offered to each other Holder in such offer (which may be less than par and excluding any early tender or incentive fee in such offer) plus, to the extent not included in the offer payment, accrued and
unpaid interest, if any, thereon, to, but excluding, the Redemption Date, subject to the right of Holders of record on the relevant Record Date to receive interest due on the relevant Interest Payment Date falling prior to or on the Redemption Date.
In determining whether the Holders of at least 90% of the 

  
 A-6 

 
aggregate principal amount of the then outstanding Notes have validly tendered and not validly withdrawn Notes in a tender offer, Change of Control Offer, Alternate Offer, Asset Sale Offer or
Advance Offer, as applicable, Notes owned by an Affiliate of the Issuer or by funds controlled or managed by any Affiliate of the Issuer, or any successor thereof, shall be deemed to be outstanding for the purposes of such tender offer, Change of
Control Offer, Alternate Offer, Asset Sale Offer or Advance Offer, as applicable. 
 (f) Any redemption pursuant to this paragraph 5 shall be
made pursuant to the provisions of Sections 3.01 through 3.06 of the Indenture. Notice of any redemption or offer to purchase, whether in connection with an Equity Offering, Change of Control, Alternate Offer, Asset Sale Offer, Advance Offer or
other transaction or event or otherwise, may, at the Issuer’s discretion, be given prior to the completion or occurrence thereof, and any such redemption, offer to purchase or notice may, at the Issuer’s discretion, be subject to one or
more conditions precedent including conditions precedent applicable to different amounts of Notes redeemed), including completion or occurrence of the related Equity Offering, Change of Control, Alternate Offer, Asset Sale Offer, Advance Offer or
other transaction or event, as the case may be. The Issuer may redeem Notes pursuant to one or more of the relevant provisions in this Indenture, and a single notice of redemption may be delivered with respect to redemptions made pursuant to
different provisions. Any such notice may provide that redemptions made pursuant to different provisions will have different Redemption Dates. In addition, if such redemption or offer to purchase is subject to satisfaction of one or more conditions
precedent, such notice shall state that, in the Issuer’s discretion, the redemption or repurchase date may be delayed until such time (including more than 60 days after the date the notice of redemption or offer to purchase was sent) as any or
all such conditions shall be satisfied (or waived by the Issuer in its sole discretion), or such redemption or purchase may not occur and such notice may be rescinded in the event that any or all such conditions shall not have been satisfied (or
waived by the Issuer in its sole discretion) by the redemption or purchase date, or by the redemption or purchase date so delayed, or that such notice or offer may be rescinded at any time in the Issuer’s sole discretion if the Issuer
determines that any or all of such conditions will not be satisfied or waived. In addition, the Issuer may provide in such notice or offer to purchase that payment of the redemption or purchase price and performance of the Issuer’s obligations
with respect to such redemption or offer to purchase may be performed by another Person. The Issuer, its direct and indirect equityholders, including the Investors, any of its Subsidiaries and their respective Affiliates and members of management
may acquire the Notes by means other than a redemption or offer to purchase pursuant to this paragraph 5, whether by tender offer, open market purchases, negotiated transactions or otherwise. 

6. Mandatory Redemption. The Issuer shall not be required to make any mandatory redemption or sinking fund payment with respect to the
Notes. 
 7. Notice of Redemption. Subject to Section 3.03 of the Indenture, notice of redemption shall be delivered
electronically or mailed by first-class mail, postage prepaid, at least 10 days (except as set forth in Section 3.07(f) of the Indenture) but not more than 60 days before the Redemption Date to each Holder whose Notes are to be redeemed at such
Holder’s registered address stated in the Note Register or otherwise in accordance with the Applicable Procedures, except that redemption notices may be delivered electronically or mailed more than 60 days prior to a Redemption Date if the
notice is issued in connection with Article 8 or Article 11 of the Indenture. Notes and portions of Notes selected for redemption shall be in integral multiples of $1,000 and no Notes of $2,000 or less can be redeemed in part, except that if all of
the Notes of a Holder are to be redeemed, the entire outstanding amount of Notes held by such Holder shall be redeemed, even if not in a principal amount of at least $2,000. On and after the Redemption Date, unless the Issuer defaults in the payment
of the redemption price, interest ceases to accrue on this Note or portions thereof called for redemption. 
 8. Offers to Repurchase.
Upon the occurrence of a Change of Control, unless the Issuer has previously or concurrently sent a redemption notice with respect to all the outstanding Notes as described under Section 3.07 of the Indenture, the Issuer shall make a Change of
Control Offer in accordance with Section 4.14 of the Indenture. In connection with certain Asset Sales, the Issuer shall make an Asset Sale Offer or an Advance Offer, as the case may be, as and when provided in accordance with Sections 3.08 and
4.10 of the Indenture. 

  
 A-7 

 Other than as specifically provided in Section 3.08 or Section 4.10 of the
Indenture, any purchase pursuant to Section 3.08 of the Indenture shall be made pursuant to the applicable provisions of Sections 3.01 through 3.06 of the Indenture, and references therein or herein to “redeem,”
“redemption,” “Redemption Date” and similar words shall be deemed to refer to “purchase,” “repurchase,” “Purchase Date” and similar words, as applicable. 

9. Denominations, Transfer, Exchange. The Notes are in registered form without coupons in minimum denominations of $2,000 and any
integral multiple of $1,000 in excess thereof. The transfer of Notes shall be registered and Notes may only be exchanged as provided in the Indenture. The Registrar and the Trustee may require a Holder, among other things, to furnish appropriate
endorsements and transfer documents and the Issuer may require a Holder to pay any taxes and fees required by law or permitted by the Indenture. The Issuer and the Transfer Agent need not exchange or register the transfer of any Note or portion of a
Note selected for redemption, except for the unredeemed portion of any Note being redeemed in part; provided that new Notes will only be issued in minimum denominations of $2,000 and in integral multiples of $1,000 in excess thereof. Also,
the Issuer and the Transfer Agent need not exchange or register the transfer of any Notes for a period of 15 days before the mailing of a notice of redemption of Notes to be redeemed. 

10. Persons Deemed Owners. The registered Holder of a Note shall be treated as its owner for all purposes. Only registered Holders shall
have rights hereunder. 
 11. Amendment, Supplement and Waiver. The Indenture, the Guarantees or the Notes may be amended or
supplemented as provided in the Indenture. 
 12. Defaults and Remedies. 

(a) The Events of Default relating to the Notes are defined in Section 6.01 of the Indenture. If any Event of Default (other than an Event
of Default of the type specified in clause (vi) or (vii) of Section 6.01(a) of the Indenture) occurs and is continuing under the Indenture, the Trustee or the Holders of not less than 30% in aggregate principal amount of all of the then
outstanding Notes may, by notice to the Issuer and the Trustee, in either case specifying in such notice the respective Event of Default and that such notice is a “notice of acceleration,” declare the principal, premium, if any, interest
and any other monetary obligations on all the then outstanding Notes to be due and payable immediately. Upon the effectiveness of such declaration, such principal of and premium, if any, and interest will be due and payable immediately.
Notwithstanding the foregoing, in the case of an Event of Default arising under clause (vi) or (vii) of Section 6.01(a) of the Indenture, all outstanding Notes will become due and payable without further action or notice. Holders may not
enforce the Indenture, the Notes or the Guarantees except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of all the Notes then outstanding may direct the Trustee in its exercise of
any trust or power. 
 (b) The Trustee may withhold from the Holders notice of any continuing Default, except a Default relating to the
payment of principal, premium, if any, or interest, if it determines that withholding notice is in their interest. In addition, subject to Section 6.05 of the Indenture, the Trustee will have no obligation to accelerate the Notes if in the
judgment of the Trustee acceleration is not in the interests of the Holders of all of the Notes. 
 (c) Holders of a majority in aggregate
principal amount of all the Notes then outstanding, by written notice to the Trustee (with a copy to the Issuer, provided that any waiver or rescission under Section 6.04 of the Indenture shall be valid and binding notwithstanding the
failure to provide a copy of such notice to the Issuer) may on behalf of the Holders of all of the Notes waive any existing Default and its consequences under the Indenture (except a continuing Default in the payment of interest on, premium, if any,
or the principal of any Note held by a non-consenting Holder) (including in connection with an Asset Sale Offer, Advance Offer or a Change of Control Offer) and rescind any acceleration with respect to the
Notes and its consequences under the Indenture (except if such rescission would conflict with any judgment of a court of competent jurisdiction). Upon any such waiver, such Default shall cease to exist, and any Event of Default arising therefrom
shall be deemed to have been cured for every purpose of the Indenture; but no such waiver shall extend to any subsequent or other Default or impair any right consequent thereto. 

  
 A-8 

 (d) The Issuer is required to deliver to the Trustee annually a statement regarding
compliance with the Indenture, and the Issuer shall promptly (which shall be no more than 20 Business Days after becoming aware of such Default) deliver to the Trustee by registered or certified mail or by facsimile transmission an Officer’s
Certificate specifying such Default, its status and what action the Issuer is taking or proposes to take with respect thereto. 
 13.
Guarantees. The Issuer’s obligations under the Notes are fully and unconditionally guaranteed, jointly and severally, by the Guarantors. 

14. Authentication. This Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose until
authenticated by the manual, facsimile or electronic (including “.pdf”) signature of the Trustee. 
 15. Governing Law. THIS
NOTE, AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO THIS NOTE, WILL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 

16. CUSIP Numbers and ISINs. Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification Procedures,
the Issuer has caused CUSIP numbers and ISINs to be printed on the Notes and the Trustee may use CUSIP numbers and ISINs in notices of redemption as a convenience to Holders. No representation is made as to the accuracy of such numbers either as
printed on the Notes or as contained in any notice of redemption and reliance may be placed only on the other identification numbers placed thereon. 

The Issuer will furnish to any Holder upon written request and without charge a copy of the Indenture. Requests may be made to the Issuer at
the following address: 
 Finance of America Funding LLC 

909 Lake Carolyn Parkway, Suite 1550 

Irving, Texas 75039 
 Attention:
General Counsel 
 Telephone: [phone number] 

  
 A-9 

 ASSIGNMENT FORM 

To assign this Note, fill in the form below: 

(I) or (we) assign and transfer this Note to:
                                         
                                         
                                   

(Insert assignee’s legal name) 
  

 
 (Insert assignee’s soc. sec. or
tax I.D. no.) 

	
	  

	  

	  

 (Print or type assignee’s name, address and zip code) 

and irrevocably appoint
                                        
                                         
                                         
                           

to transfer this Note on the books of the Issuer. The agent may substitute another to act for him. 

Date: ____________________ 
  

	
	Your
Signature:                                       
                     
	(Sign exactly as your name appears on the face of this Note)

 Signature Guarantee*:
                                        
                     
  

	*	 Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to
the Trustee). 

  
 A-10 

 OPTION OF HOLDER TO ELECT PURCHASE 

If you want to elect to have this Note purchased by the Issuer pursuant to Section 4.10 or 4.14 of the Indenture, check the appropriate
box below: 
  

			
	☐ Section 4.10	 	☐ Section 4.14

 If you want to elect to have only part of this Note purchased by the Issuer pursuant to Section 4.10 or
Section 4.14 of the Indenture, state the amount you elect to have purchased: 
 $________________ 

Date: ____________________ 
  

	
	Your
Signature:                                       
                     
	 (Sign exactly as your name appears on the face of this Note)

 Tax Identification No.: 

Signature Guarantee*:
                                        
                     
  

	*	 Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to
the Trustee). 

  
 A-11 

 SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE* 

The initial outstanding principal amount of this Global Note is $___________. The following exchanges of a part of this Global Note for an
interest in another Global Note or for a Definitive Note, or exchanges of a part of another Global Note or Definitive Note for an interest in this Global Note, have been made: 

 

									
	 Date of Exchange
	  	 Amount of decrease

in Principal Amount
 of this Global
Note
	  	 Amount of increase

in Principal Amount
 of this Global
Note
	  	 Principal Amount of
this Global Note
following
such
decrease or increase
	  	 Signature of
authorized signatory
of Trustee
or
Custodian

  

	*	 This schedule should be included only if the Note is issued in global form. 

 

  
 A-12 

 EXHIBIT B 

[FORM OF CERTIFICATE OF TRANSFER] 
 Finance of
America Funding LLC 
 909 Lake Carolyn Parkway, Suite 1550 

Irving, Texas 75039 
 Attention: General Counsel 

Telephone: [phone number] 
 U.S. Bank National Association 

1 Federal Street 
 Boston, MA 02210 

Facsimile: [fax number] 
 Electronic Mail: [email address] 

Attention: Global Corporate Trust Services – Finance of America Funding LLC 

Re: 7.875% Senior Notes due 2025 

Reference is hereby made to the Indenture, dated as of November 5, 2020 (as amended, supplemented or otherwise modified from time to
time, the “Indenture”), among Finance of America Funding LLC, a Delaware limited liability company (the “Issuer”), the Guarantors named therein and U.S. Bank National Association, a national banking association, as
Trustee. Capitalized terms used but not defined herein shall have the meanings given to them in the Indenture. 
 ____________________ (the
“Transferor”) owns and proposes to transfer the Note[s] or interest in such Note[s] specified in Annex A hereto, in the principal amount of $_______________ in such Note[s] or interests (the “Transfer”), to (the
“Transferee”), as further specified in Annex A hereto. In connection with the Transfer, the Transferor hereby certifies that: 

[CHECK ALL THAT APPLY] 
 1.
☐ CHECK IF TRANSFEREE WILL TAKE DELIVERY OF A BENEFICIAL INTEREST IN THE RELEVANT 144A GLOBAL NOTE OR RELEVANT DEFINITIVE NOTE PURSUANT TO RULE 144A. The Transfer is being effected pursuant to and in accordance with Rule 144A under the United
States Securities Act of 1933, as amended (the “Securities Act”), and, accordingly, the Transferor hereby further certifies that the beneficial interest or Definitive Note is being transferred to a Person that the Transferor
reasonably believes is purchasing the beneficial interest or Definitive Note for its own account, or for one or more accounts with respect to which such Person exercises sole investment discretion, and such Person and each such account is a
“qualified institutional buyer” within the meaning of Rule 144A in a transaction meeting the requirements of Rule 144A and such Transfer is in compliance with any applicable blue sky securities laws of any state of the United States. 

2. ☐ CHECK IF TRANSFEREE WILL TAKE DELIVERY OF A BENEFICIAL INTEREST IN THE RELEVANT REGULATION S GLOBAL NOTE OR RELEVANT DEFINITIVE NOTE
PURSUANT TO REGULATION S. The Transfer is being effected pursuant to and in accordance with Rule 903 or Rule 904 under the Securities Act and, accordingly, the Transferor hereby further certifies that (i) the Transfer is not being made to a
person in the United States and (x) at the time the buy order was originated, the Transferee was outside the United States or such Transferor and any Person acting on its behalf reasonably believed and believes that the Transferee was outside
the United States or (y) the transaction was executed in, on or through the facilities of a designated offshore securities market and neither such Transferor nor any Person acting on its behalf knows that the transaction was prearranged with a
buyer in the United States, (ii) no directed selling efforts have been made in contravention of the requirements of Rule 903(b) or Rule 904(b) of Regulation S, (iii) the transaction is not part of a plan or scheme to evade the registration
requirements of the Securities Act and (iv) if the proposed transfer is being made prior to 

  
 B-1 

 
the expiration of the applicable Restricted Period, the transfer is not being made to a U.S. Person or for the account or benefit of a U.S. Person (other than an Initial Purchaser). Upon
consummation of the proposed transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Note will be subject to the restrictions on Transfer enumerated in the Indenture and the Securities Act. 

3. ☐ CHECK AND COMPLETE IF TRANSFEREE WILL TAKE DELIVERY OF A BENEFICIAL INTEREST IN THE RELEVANT DEFINITIVE NOTE PURSUANT TO ANY
PROVISION OF THE SECURITIES ACT OTHER THAN RULE 144A OR REGULATION S. The Transfer is being effected in compliance with the transfer restrictions applicable to beneficial interests in Restricted Global Notes and Restricted Definitive Notes and
pursuant to and in accordance with the Securities Act and any applicable blue sky securities laws of any state of the United States, and accordingly the Transferor hereby further certifies that (check one): 

(a) ☐ such Transfer is being effected pursuant to and in accordance with Rule 144 under the Securities Act; or 

(b) ☐ such Transfer is being effected to the Issuer or a subsidiary thereof; or 

(c) ☐ such Transfer is being effected pursuant to an effective registration statement under the Securities Act and in
compliance with the prospectus delivery requirements of the Securities Act; or 
 (d) ☐ such Transfer is being effected
to an Institutional Accredited Investor and pursuant to an exemption from the registration requirements of the Securities Act other than Rule 144A, Rule 144, Rule 903 or Rule 904, and the Transferor hereby further certifies that it has not engaged
in any general solicitation within the meaning of Regulation D under the Securities Act and the Transfer complies with the transfer restrictions applicable to beneficial interests in a Restricted Global Note or Restricted Definitive Notes and the
requirements of the exemption claimed, which certification is supported by (1) a certificate executed by the Transferee in the form of Exhibit D to the Indenture and (2) if such Transfer is in respect of a principal amount of Notes at the
time of transfer of less than $250,000, an Opinion of Counsel provided by the Transferor or the Transferee (a copy of which the Transferor has attached to this certification), to the effect that such Transfer is in compliance with the Securities
Act. Upon consummation of the proposed transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Note will be subject to the restrictions on transfer enumerated in the Private Placement Legend printed
on the IAI Global Note and/or the Restricted Definitive Notes and in the Indenture and the Securities Act. 
 4. ☐ CHECK IF TRANSFEREE
WILL TAKE DELIVERY OF A BENEFICIAL INTEREST IN A UNRESTRICTED GLOBAL NOTE OR OF A UNRESTRICTED DEFINITIVE NOTE. 
 (a)
☐ CHECK IF TRANSFER IS PURSUANT TO RULE 144. (i) The Transfer is being effected pursuant to and in accordance with Rule 144 under the Securities Act and in compliance with the transfer restrictions contained in the Indenture and any applicable
blue sky securities laws of any state of the United States and (ii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act. Upon
consummation of the proposed Transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Note will no longer be subject to the restrictions on transfer enumerated in the Private Placement Legend printed
on the Restricted Global Notes, on Restricted Definitive Notes and in the Indenture. 
 (b) ☐ CHECK IF TRANSFER IS
PURSUANT TO REGULATION S. (i) The Transfer is being effected pursuant to and in accordance with Rule 903 or Rule 904 under the Securities Act and in compliance with the transfer restrictions contained in the Indenture and any applicable blue
sky securities laws of any state of the United States and (ii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act. Upon consummation
of the proposed Transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Note will no longer be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the
Restricted Global Notes, on Restricted Definitive Notes and in the Indenture. 

  
 B-2 

 (c) ☐ CHECK IF TRANSFER IS PURSUANT TO OTHER EXEMPTION. (i) The
Transfer is being effected pursuant to and in compliance with an exemption from the registration requirements of the Securities Act other than Rule 144, Rule 903 or Rule 904 and in compliance with the transfer restrictions contained in the Indenture
and any applicable blue sky securities laws of any state of the United States and (ii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities
Act. Upon consummation of the proposed Transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Note will not be subject to the restrictions on transfer enumerated in the Private Placement Legend
printed on the Restricted Global Notes or Restricted Definitive Notes and in the Indenture. 

  
 B-3 

 This certificate and the statements contained herein are made for your benefit and the
benefit of the Issuer. 
  

			
	[Insert Name of Transferor]
		
	By:	 	  

		 	Name:
		 	Title:

 Dated: __________ 

  
 B-4 

 ANNEX A TO CERTIFICATE OF TRANSFER 

 

	1.	 The Transferor owns and proposes to transfer the following: 

[CHECK ONE OF (a) OR (b)] 
  

	 	(a)	 [    ] a beneficial interest in the: 

 

	 	(i)	 [    ] 144A Global Note (CUSIP: [●]; ISIN: [●]), or 

 

	 	(ii)	 [    ] Regulation S Global Note (CUSIP: [●]; ISIN: [●]), or

  

	 	(iii)	 [    ] IAI Global Note (CUSIP: [●]; ISIN: [●]), or 

(b) [    ] a Restricted Definitive Note. 

 

	2.	 After the Transfer the Transferee will hold: 

[CHECK ONE] 
  

	 	(a)	 [    ] a beneficial interest in the: 

 

	 	(i)	 [    ] 144A Global Note (CUSIP: [●]; ISIN: [●]), or 

 

	 	(ii)	 [    ] Regulation S Global Note (CUSIP: [●]; ISIN: [●]), or

  

	 	(iii)	 [    ] IAI Global Note (CUSIP: [●]; ISIN: [●]), or 

 

	 	(iv)	 [    ] Unrestricted Global Note (CUSIP: [    ]; ISIN:
[    ];), or 

  

	 	(b)	 [    ] a Restricted Definitive Note; or 

 

	 	(c)	 [    ] a Unrestricted Definitive Note, in accordance with the terms of the Indenture.

  

  
 B-5 

 EXHIBIT C 

[FORM OF CERTIFICATE OF EXCHANGE] 
 Finance of
America Funding LLC 
 909 Lake Carolyn Parkway, Suite 1550 

Irving, Texas 75039 
 Attention: General Counsel 

Telephone: [phone number] 
 U.S. Bank National Association 

1 Federal Street 
 Boston, MA 02210 

Facsimile: [fax number] 
 Electronic Mail: [email address] 

Attention: Global Corporate Trust Services – Finance of America Funding LLC 

Re: 7.875% Senior Notes due 2025 

Reference is hereby made to the Indenture, dated as of November 5, 2020 (as amended, supplemented or otherwise modified from time to
time, the “Indenture”), among Finance of America Funding LLC, a Delaware limited liability company (the “Issuer”), the Guarantors named therein and U.S. Bank National Association, a national banking association, as
Trustee. Capitalized terms used but not defined herein shall have the meanings given to them in the Indenture. 
 ________________ (the
“Owner”) owns and proposes to exchange Note[s] or an interest in such Note[s], in the principal amount of $__________in such Note[s] or interests (the “Exchange”). In connection with the Exchange, the Owner hereby
certifies that: 
 1. EXCHANGE OF RESTRICTED DEFINITIVE NOTES OR BENEFICIAL INTERESTS IN A RESTRICTED GLOBAL NOTE FOR UNRESTRICTED
DEFINITIVE NOTES OR BENEFICIAL INTERESTS IN A UNRESTRICTED GLOBAL NOTE 
 (a) ☐ CHECK IF EXCHANGE IS FROM BENEFICIAL
INTEREST IN A RESTRICTED GLOBAL NOTE TO BENEFICIAL INTEREST IN A UNRESTRICTED GLOBAL NOTE. In connection with the Exchange of the Owner’s beneficial interest in a Restricted Global Note for a beneficial interest in a Unrestricted Global Note in
an equal principal amount, the Owner hereby certifies (i) the beneficial interest is being acquired for the Owner’s own account without transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions
applicable to the Global Notes and pursuant to and in accordance with the United States Securities Act of 1933, as amended (the “Securities Act”), (iii) the restrictions on transfer contained in the Indenture and the Private
Placement Legend are not required in order to maintain compliance with the Securities Act and (iv) the beneficial interest in a Unrestricted Global Note is being acquired in compliance with any applicable blue sky securities laws of any state
of the United States. 
 (b) ☐ CHECK IF EXCHANGE IS FROM BENEFICIAL INTEREST IN A RESTRICTED GLOBAL NOTE TO
UNRESTRICTED DEFINITIVE NOTE. In connection with the Exchange of the Owner’s beneficial interest in a Restricted Global Note for a Unrestricted Definitive Note, the Owner hereby certifies (i) the Definitive Note is being acquired for the
Owner’s own account without transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to the Restricted Global Notes and pursuant to and in accordance with the Securities Act, (iii) the
restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act and (iv) the Definitive Note is being acquired in compliance with any applicable blue
sky securities laws of any state of the United States. 

  
 C-1 

 (c) ☐ CHECK IF EXCHANGE IS FROM RESTRICTED DEFINITIVE NOTE TO
BENEFICIAL INTEREST IN A UNRESTRICTED GLOBAL NOTE. In connection with the Owner’s Exchange of a Restricted Definitive Note for a beneficial interest in a Unrestricted Global Note, the Owner hereby certifies (i) the beneficial interest is
being acquired for the Owner’s own account without transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to Restricted Definitive Notes and pursuant to and in accordance with the Securities
Act, (iii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act and (iv) the beneficial interest is being acquired in compliance
with any applicable blue sky securities laws of any state of the United States. 
 (d) ☐ CHECK IF EXCHANGE IS FROM
RESTRICTED DEFINITIVE NOTE TO UNRESTRICTED DEFINITIVE NOTE. In connection with the Owner’s Exchange of a Restricted Definitive Note for a Unrestricted Definitive Note, the Owner hereby certifies (i) the Unrestricted Definitive Note is
being acquired for the Owner’s own account without transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to Restricted Definitive Notes and pursuant to and in accordance with the Securities
Act, (iii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act and (iv) the Unrestricted Definitive Note is being acquired in
compliance with any applicable blue sky securities laws of any state of the United States. 
 2. EXCHANGE OF RESTRICTED DEFINITIVE NOTES OR
BENEFICIAL INTERESTS IN RESTRICTED GLOBAL NOTES FOR RESTRICTED DEFINITIVE NOTES OR BENEFICIAL INTERESTS IN RESTRICTED GLOBAL NOTES 

(a) ☐ CHECK IF EXCHANGE IS FROM BENEFICIAL INTEREST IN A RESTRICTED GLOBAL NOTE TO RESTRICTED DEFINITIVE NOTE. In
connection with the Exchange of the Owner’s beneficial interest in a Restricted Global Note for a Restricted Definitive Note with an equal principal amount, the Owner hereby certifies that the Restricted Definitive Note is being acquired for
the Owner’s own account without transfer. Upon consummation of the proposed Exchange in accordance with the terms of the Indenture, the Restricted Definitive Note issued will continue to be subject to the restrictions on transfer enumerated in
the Private Placement Legend printed on the Restricted Definitive Note and in the Indenture and the Securities Act. 
 (b)
☐ CHECK IF EXCHANGE IS FROM RESTRICTED DEFINITIVE NOTE TO BENEFICIAL INTEREST IN A RESTRICTED GLOBAL NOTE. In connection with the Exchange of the Owner’s Restricted Definitive Note for a beneficial interest in the [CHECK ONE] [ ] 144A
Global Note [ ] Regulation S Global Note [ ] IAI Global Note in each case, with an equal principal amount, the Owner hereby certifies (i) the beneficial interest is being acquired for the Owner’s own account without transfer and
(ii) such Exchange has been effected in compliance with the transfer restrictions applicable to the Restricted Global Notes and pursuant to and in accordance with the Securities Act, and in compliance with any applicable blue sky securities
laws of any state of the United States. Upon consummation of the proposed Exchange in accordance with the terms of the Indenture, the beneficial interest issued will be subject to the restrictions on transfer enumerated in the Private Placement
Legend printed on the relevant Restricted Global Note and in the Indenture and the Securities Act. 

  
 C-2 

 This certificate and the statements contained herein are made for your benefit and the
benefit of the Issuer. 
  

			
	[Insert Name of Transferor]
		
	By:	 	  

		 	Name:
		 	Title:

 Dated: __________ 
  

  
 C-3 

 EXHIBIT D 

[FORM OF CERTIFICATE FROM ACQUIRING INSTITUTIONAL ACCREDITED INVESTOR] 

Finance of America Funding LLC 
 909 Lake Carolyn Parkway, Suite
1550 
 Irving, Texas 75039 
 Attention: General Counsel 

Telephone: [phone number] 
 U.S. Bank National Association 

1 Federal Street 
 Boston, MA 02210 

Facsimile: [fax number] 
 Electronic Mail: [email address] 

Attention: Global Corporate Trust Services – Finance of America Funding LLC 

Re: 7.875% Senior Notes due 2025 

Reference is hereby made to the Indenture, dated as of November 5, 2020 (as amended, supplemented or otherwise modified from time to
time, the “Indenture”), among Finance of America Funding LLC, a Delaware limited liability company (the “Issuer”), the Guarantors named therein and U.S. Bank National Association, a national banking association, as
Trustee. Capitalized terms used but not defined herein shall have the meanings given to them in the Indenture. 
 In connection with our
proposed purchase of $______ aggregate principal amount of: 
  

	 	(a)	 ☐ a beneficial interest in a Global Note, or 

 

	 	(b)	 ☐ a Definitive Note, 

we confirm that: 
 1. We
understand that any subsequent transfer of the Notes or any interest therein is subject to certain restrictions and conditions set forth in the Indenture and the undersigned agrees to be bound by, and not to resell, pledge or otherwise transfer the
Notes or any interest therein except in compliance with, such restrictions and conditions and the Securities Act of 1933, as amended (the “Securities Act”). 

2. We understand that the offer and sale of the Notes have not been registered under the Securities Act, and that the Notes and any interest
therein may not be offered or sold except as permitted in the following sentence. We agree, on our own behalf and on behalf of any accounts for which we are acting as hereinafter stated, that if we should sell the Notes or any interest therein, we
will do so only (A) to the Issuer or any subsidiary thereof, (B) in accordance with Rule 144A under the Securities Act to a “qualified institutional buyer” (as defined therein), (C) to an institutional “accredited
investor” (as defined below) that, prior to such transfer, furnishes (or has furnished on its behalf by a U.S. broker-dealer) to you and to the Issuer a signed letter substantially in the form of this letter and, if such transfer is in respect
of a principal amount of Notes, at the time of transfer of less than $250,000, an Opinion of Counsel in form reasonably acceptable to the Issuer to the effect that such transfer is in compliance with the Securities Act, (D) outside the United
States in accordance with Rule 904 of Regulation S under the Securities Act, (E) pursuant to the provisions of Rule 144 under the Securities Act or (F) pursuant to an effective registration statement under the Securities Act, and we
further agree to provide to any Person purchasing the Definitive Note or beneficial interest in a Global Note from us in a transaction meeting the requirements of clauses (A) through (E) of this paragraph a notice advising such purchaser that
resales thereof are restricted as stated herein. 

  
 D-1 

 3. We understand that, on any proposed resale of the Notes or beneficial interest therein,
we will be required to furnish to you and the Issuer such certifications, legal opinions and other information as you and the Issuer may reasonably require to confirm that the proposed sale complies with the foregoing restrictions. We further
understand that the Notes purchased by us will bear a legend to the foregoing effect. 
 4. We are an institutional “accredited
investor” (as defined in Rule 501(a)(1), (2), (3) or (7) of Regulation D under the Securities Act) and have such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of our
investment in the Notes, and we and any accounts for which we are acting are each able to bear the economic risk of our or its investment. 

5. We are acquiring the Notes or beneficial interest therein purchased by us for our own account or for one or more accounts (each of which is
an institutional “accredited investor”) as to each of which we exercise sole investment discretion. 
 You and the Issuer are
entitled to rely upon this letter and are irrevocably authorized to produce this letter or a copy hereof to any interested party in any administrative or legal proceedings or official inquiry with respect to the matters covered hereby. 

 

			
	[Insert Name of Accredited Investor]
		
	By:	 	  

	Name:	 	
	Title:	 	

 Dated:
                                         
        
  

  
 D-2 

 EXHIBIT E 

[FORM OF SUPPLEMENTAL INDENTURE 

TO BE DELIVERED BY SUBSEQUENT GUARANTORS] 

[______] Supplemental Indenture (this “Supplemental Indenture”), dated as of ______________, among ________________________
(the “Guaranteeing Subsidiary”), a subsidiary of Finance of America Funding LLC, a Delaware limited liability company (the “Issuer”), and U.S. Bank National Association, a national banking association, as trustee
(the “Trustee”). 
 W I T N E S S E T H 

WHEREAS, the Issuer and the Guarantors have heretofore executed and delivered to the Trustee an Indenture (the “Indenture”),
dated as of November 5, 2020, providing for the issuance of $350,000,000 aggregate principal amount of 7.875% Senior Notes due 2025 (the “Notes”); 

WHEREAS, the Indenture provides that under certain circumstances the Guaranteeing Subsidiary shall execute and deliver to the Trustee a
supplemental indenture pursuant to which the Guaranteeing Subsidiary shall unconditionally guarantee all of the Issuer’s Obligations under the Notes and the Indenture on the terms and conditions set forth herein and under the Indenture (the
“Guarantee”); and 
 WHEREAS, pursuant to Section 9.01 of the Indenture, the Trustee is authorized to execute and
deliver this Supplemental Indenture. 
 NOW THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the
receipt of which is hereby acknowledged, the parties mutually covenant and agree for the equal and ratable benefit of the Holders as follows: 

(1) Capitalized Terms. Capitalized terms used herein without definition shall have the meanings assigned to them in the Indenture. 

(2) Agreement to Guarantee. The Guaranteeing Subsidiary acknowledges that it has received and reviewed a copy of the Indenture and all
other documents it deems necessary to review in order to enter into this Supplemental Indenture, and acknowledges and agrees to (i) join and become a party to the Indenture as indicated by its signature below; (ii) be bound by the
Indenture, as of the date hereof, as if made by, and with respect to, each signatory hereto; and (iii) perform all obligations and duties required of a Subsidiary Guarantor pursuant to the Indenture. The Guaranteeing Subsidiary hereby agrees to
provide an unconditional Guarantee on the terms and subject to the conditions set forth in the Indenture, including, but not limited to, Article 10 thereof. 

(3) Execution and Delivery. The Guaranteeing Subsidiary agrees that the Guarantee shall remain in full force and effect notwithstanding
the absence of the endorsement of any notation of such Guarantee on the Notes. 
 (4) No Recourse Against Others. No past, present or
future director, manager, officer, employee, incorporator, member, partner or direct or indirect equityholder of the Issuer or the Guaranteeing Subsidiary shall have any liability for any obligations of the Issuer or the Subsidiary Guarantors
(including the Guaranteeing Subsidiary) under the Notes, any Guarantees, the Indenture or this Supplemental Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder by accepting Notes
waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Notes. 
 (5) Governing
Law. THIS SUPPLEMENTAL INDENTURE, AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO THIS SUPPLEMENTAL INDENTURE, WILL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 

  
 E-1 

 (6) Counterparts. The parties may sign any number of copies of this Supplemental
Indenture. Each signed copy shall be an original, but all of them together represent the same agreement. This Supplemental Indenture may be executed in multiple counterparts which, when taken together, shall constitute one instrument. The exchange
of copies of this Supplemental Indenture and of signature pages by facsimile or PDF transmissions shall constitute effective execution and delivery of this Supplemental Indenture as to the parties hereto and may be used in lieu of the original
Supplemental Indenture for all purposes. Signatures of the parties hereto transmitted by facsimile or PDF shall be deemed to be their original signatures for all purposes. 

(7) Effect of Headings. The Section headings herein are for convenience only and shall not affect the construction hereof. 

(8) The Trustee. The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency of this
Supplemental Indenture or for or in respect of the recitals contained herein, all of which recitals are made solely by the Guaranteeing Subsidiary. 

(9) Benefits Acknowledged. The Guaranteeing Subsidiary’s Guarantee is subject to the terms and conditions set forth in the
Indenture. The Guaranteeing Subsidiary acknowledges that it will receive direct and indirect benefits from the financing arrangements contemplated by the Indenture and this Supplemental Indenture and that the guarantee and waivers made by it
pursuant to this Guarantee are knowingly made in contemplation of such benefits. 
 (10) Successors. All agreements of the
Guaranteeing Subsidiary in this Supplemental Indenture shall bind its successors, except as otherwise provided in this Supplemental Indenture. All agreements of the Trustee in this Supplemental Indenture shall bind its successors. 

(11) Ratification of Indenture; Supplemental Indentures Part of Indenture. Except as expressly amended hereby, the Indenture is in all
respects ratified and confirmed and all the terms, conditions and provisions thereof shall remain in full force and effect. This Supplemental Indenture shall form a part of the Indenture for all purposes, and every Holder shall be bound hereby. 

[Signature Page Follows] 

  
 E-2 

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

			
	[GUARANTEEING SUBSIDIARY]
		
	By:	 	  

		 	Name:
		 	Title:
	
	U.S. BANK NATIONAL ASSOCIATION, as Trustee
		
	By:	 	  

		 	Name:
		 	Title:

  
 E-3EX-10.18

 Exhibit 10.18 

 

Certain confidential information contained in this document, marked by brackets, has been omitted because it is both
(i) not material and (ii) would be competitively harmful if publicly disclosed 

  

 
  

MASTER REPURCHASE AGREEMENT 

among 
 NATIONAL FOUNDERS LP, as
buyer (the “Buyer”) 
 and 

FACO CROP LOANS LLC, a Delaware limited liability company, as seller (“Seller”) 

FACO CROP LOAN FINANCING TRUST C1, a Delaware statutory trust, as the trust subsidiary (“Trust Subsidiary”) 

Dated March 18, 2020 
  

 
  

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	 1.
	 	Applicability	  	 	1	 
			
	 2.
	 	Definitions	  	 	1	 
			
	 3.
	 	Program; Commitment Fee; Initiation of Transactions	  	 	22	 
			
	 4.
	 	Repurchase	  	 	24	 
			
	 5.
	 	Payments, Transfer, Fees and Price Differential	  	 	24	 
			
	 6.
	 	Margin Maintenance	  	 	26	 
			
	 7.
	 	Increases and Decreases to Maximum Aggregate Purchase Price; Extension of Termination Date and Availability Period	  	 	26	 
			
	 8.
	 	Income Payments	  	 	27	 
			
	 9.
	 	Security Interest	  	 	29	 
			
	 10.
	 	Conditions Precedent	  	 	32	 
			
	 11.
	 	Program; Costs; Taxes	  	 	35	 
			
	 12.
	 	Servicing	  	 	38	 
			
	 13.
	 	Representations and Warranties	  	 	39	 
			
	 14.
	 	Covenants	  	 	44	 
			
	 15.
	 	Events of Default	  	 	48	 
			
	 16.
	 	Remedies upon Default	  	 	50	 
			
	 17.
	 	Reports	  	 	52	 
			
	 18.
	 	Repurchase Transactions	  	 	55	 
			
	 19.
	 	Single Agreement	  	 	55	 
			
	 20.
	 	Notices and Other Communications	  	 	55	 
			
	 21.
	 	Entire Agreement; Severability	  	 	56	 
			
	 22.
	 	Non-assignability	  	 	57	 
			
	 23.
	 	Set-off	  	 	58	 

  
 i 

							
	 24.
	 	Binding Effect; Governing Law; Jurisdiction	  	 	58	 
			
	 25.
	 	No Waivers, Etc.	  	 	58	 
			
	 26.
	 	Intent	  	 	59	 
			
	 27.
	 	Disclosure Relating to Certain Federal Protections	  	 	59	 
			
	 28.
	 	Power of Attorney	  	 	60	 
			
	 29.
	 	Indemnification; Obligations; Recourse	  	 	60	 
			
	 30.
	 	Counterparts	  	 	61	 
			
	 31.
	 	Confidentiality	  	 	61	 
			
	 32.
	 	Periodic Due Diligence Review	  	 	61	 
			
	 33.
	 	Authorizations	  	 	62	 
			
	 34.
	 	Documents Mutually Drafted	  	 	62	 
			
	 35.
	 	General Interpretive Principles	  	 	62	 
			
	 36.
	 	Specific Performance	  	 	63	 
			
	 37.
	 	Conflicts	  	 	63	 
			
	 38.
	 	Amendments	  	 	63	 
			
	 39.
	 	Joint and Several	  	 	64	 
			
	 40.
	 	Third Party Beneficiary	  	 	64	 
			
	 41.
	 	Trustee Not Acting in Individual Capacity	  	 	64	 

 SCHEDULES 
  

			
	Schedule 1A –	 	Representations and Warranties with Respect to Contributed Crop Loans
		
	Schedule 1B –	 	Representations and Warranties with Respect to Eligible Trust Certificates
		
	Schedule 2 –	 	Authorized Representatives

 EXHIBITS 
  

			
	Exhibit A –	  	Form of Transaction Request and Confirmation
	
	 Annex 1 – Form of Asset Tape

		
	Exhibit B –	  	Monthly Compliance Certificate

  
 ii 

			
	Exhibit C-1 –	  	Form of Power of Attorney (Seller)
		
	Exhibit C-2 –	  	Form of Power of Attorney (Trust Subsidiary)
		
	Exhibit D-1 –	  	Form of U.S. Tax Compliance Certificate
		
	Exhibit D-2 –	  	Form of U.S. Tax Compliance Certificate

  
 iii 

 This is a MASTER REPURCHASE AGREEMENT, dated as of March 18, 2020, by and among
National Founders LP (“Buyer”), FACO Crop Loans LLC, a Delaware limited liability company (the “Seller”), and FACo Crop Loan Financing Trust C1, a Delaware statutory trust (the “Trust Subsidiary”).

 1. Applicability 
 a.
From time to time during the Availability Period (as defined below) the parties hereto may enter into transactions in which Seller agrees to (i) transfer Purchased Assets (as hereinafter defined) to Buyer against the transfer of funds by Buyer
to Seller or Seller’s designee, with a simultaneous agreement by Buyer to transfer such Purchased Assets back to Seller at a date certain or on demand against the transfer of funds by Seller to Buyer and/or (ii) transfer Contributed Crop
Loans (as hereinafter defined) to Trust Subsidiary against the transfer of funds by Buyer to Seller or Seller’s designee as an increase to the Purchase Price (as hereinafter defined) of the Trust Subsidiary Interests in the Trust Subsidiary,
with a simultaneous agreement by Buyer to allow the Trust Subsidiary to release such Contributed Crop Loan back to Seller at a date certain or on demand against the transfer of funds by Seller or the Trust Subsidiary to Buyer as partial repayment of
the Purchase Price of Trust Subsidiary Interests. Each of the transactions described in the preceding sentence shall be referred to herein as a “Transaction” and, unless otherwise agreed by the parties to this Agreement in writing,
shall be governed by this Agreement, including any supplemental terms or conditions contained in any annexes identified herein, as applicable hereunder. For the avoidance of doubt and for administrative tracking purposes, the purchase and sale of
each Purchased Asset (and each increase or decrease in the Purchase Price of any Trust Subsidiary Interests in connection with the acquisition by Trust Subsidiary of a Contributed Crop Loan or the release by Trust Subsidiary of a Contributed Crop
Loan) shall be deemed a separate Transaction. 
 b. In connection with the initial Transaction on the initial Purchase Date, the Buyer shall
purchase the Trust Subsidiary Interests. On and after the initial Purchase Date, Seller may request and Buyer may fund, subject to the terms and conditions of this Agreement, a Purchase Price Increase (as hereinafter defined) of the Trust Subsidiary
Interests in connection with the acquisition of Contributed Crop Loans by the Trust Subsidiary. 
 2. Definitions 

Whenever used in this Agreement, the following words and phrases, unless the context otherwise requires, shall have the following meanings:

 “1934 Act” means the Securities Exchange Act of 1934, as amended from time to time. 

“Accepted Servicing Practices” with respect to any Contributed Crop Loan, has the meaning set forth in the Servicing
Agreement or, if not defined therein, means those servicing practices of prudent institutions which service assets of the same type as such Contributed Crop Loan in the same jurisdiction and in accordance with applicable law. 

“Act of Insolvency” means, with respect to any Person or its Affiliates, (i) the filing of a petition, commencing, or
authorizing the commencement of any case or proceeding, or the voluntary joining of any case or proceeding under any bankruptcy, insolvency, reorganization, liquidation, dissolution or similar law relating to the protection of creditors, or
suffering any such petition or proceeding to be commenced by another which is consented to, not timely contested or results in entry of an order for relief; (ii) the seeking of the appointment of a receiver, trustee, custodian or similar
official for such Person or an Affiliate or any substantial part of the property of either; (iii) the appointment of a receiver, conservator, or manager for such Person or an Affiliate by any governmental agency or authority having the
jurisdiction to 

 
do so; (iv) the making or offering by such Person or an Affiliate of a composition with its creditors or a general assignment for the benefit of creditors; (v) the admission in writing
by such Person or an Affiliate of such Person of its inability to pay its debts or discharge its obligations as they become due or mature; or (vi) that any Governmental Authority or agency or any person, agency or entity acting or purporting to
act under Governmental Authority shall have taken any action to condemn, seize or appropriate, or to assume custody or control of, all or any substantial part of the property of such Person or of any of its Affiliates, or shall have taken any action
to displace the management of such Person or of any of its Affiliates or to curtail its authority in the conduct of the business of such Person or of any of its Affiliates; which in the case of an involuntary proceeding in any of clauses
(ii) or (iii), shall continue undismissed or unstayed for a period of [***]. 
 “Affiliate” means, with respect to any
Person, any “affiliate” of such Person, as such term is defined in the Bankruptcy Code; provided that in the case of Guarantor or any Seller Party, only UFG Holdings LLC and all indirect subsidiaries of UFG Holdings LLC (other than the
Master Servicer and its Subsidiaries) shall be Affiliates for purposes of the Transaction Documents. 
 “Agreement” means
this Master Repurchase Agreement, as it may be amended, restated, supplemented or otherwise modified from time to time. 

“Anti-Corruption Laws” means: (a) the U.S. Foreign Corrupt Practices Act of 1977, as amended; (b) the U.K. Bribery
Act 2010, as amended; and (c) any other anti-bribery or anti-corruption laws, regulations or ordinances in any jurisdiction in which Seller or any of its Affiliates is located or doing business. 

“Anti-Money Laundering Laws” means any Requirements of Law relating to money
laundering or terrorism financing, any predicate crime to money laundering, or any financial record keeping and reporting requirements related thereto. 

“Approved Insurance Provider” means an insurance company duly authorized and licensed where required by law to transact
insurance business which (a) has entered into and is in compliance with a standard reinsurance agreement with Federal Crop Insurance Corporation for the applicable reinsurance year; (b) meets the Insurance Rating Requirements; (c) is
in good standing with the Federal Crop Insurance Corporation and the RMA and (d) is otherwise acceptable to Buyer in its sole discretion. 

“Approved Originator” means FarmOp Capital, LLC and any other person approved by Buyer in its sole discretion. 

“Approved State” means each state in which a Contributed Crop Loan is originated pursuant to the Underwriting Guidelines.

 “Asset File” means the documents specified on an exhibit to the Custodial Agreement, together with any additional
documents and information required to be delivered to Buyer or its designee (including the Custodian) pursuant to this Agreement and the Custodial Agreement. 

“Asset Tape” means, with respect to any Transaction as of any Purchase Date, a computer tape or other electronic medium
generated by Seller or its Affiliate and delivered to Buyer and Custodian, which provides, with respect to each Purchased Asset that is the subject of such Transaction (or, in the case of any Transaction that includes a request for a Purchase Price
Increase for any Trust Subsidiary Interest, with respect to the related Contributed Crop Loan), each of the data fields (provided that if certain data fields are not available as of the Purchase Date, Seller shall notify Buyer) set forth on
Annex 1 to Exhibit A attached hereto, as well as any and all new, modified or updated information with respect to such Purchased 

  
 2 

 
Asset or Contributed Crop Loan that has been provided to Buyer prior to the applicable Purchase Date and as to which the Purchase Price (or Purchase Price Increase, as the case may be) or any
other information set forth in the Transaction Request and Confirmation for such Transaction has been based, in each case, in a format that has previously been approved by Buyer and is otherwise acceptable to Buyer. 

“Asset Value” means, with respect to (a) each Contributed Crop Loan, the lesser of (i) [***] and (ii) the
applicable Purchase Price Percentage multiplied by (x) to the extent the insurance period for the related Crop Insurance Policy has not expired (for the avoidance of doubt, expired shall mean that the time for payment of indemnities under such
Crop Insurance Policy has terminated), the lesser of (1) the Market Value thereof and (2) the Insured Value and (y) to the extent the related insurance period under the Crop Insurance Policy has expired, the Market Value thereof and
(b) a Purchased Asset, an amount equal to the combined Asset Value of the Contributed Crop Loans. 
 Without limiting the generality of
the foregoing, each Seller Party acknowledges that the Asset Value of a Purchased Asset or Contributed Crop Loan may be reduced to zero by Buyer if: 

(i) (x) such Contributed Crop Loan contains a breach of a representation or warranty made by a Seller Party in Schedule 1A to
the Agreement and such breach has not been cured within the applicable cure period, if any or (y) the Trust Subsidiary Interests represented by an Eligible Trust Certificate contains a breach of a representation or warranty made by a Seller
Party in Schedule 1B to the Agreement and such breach has not been cured within the applicable cure period, if any; 
 (ii) a
monetary or material non-monetary default occurs under the terms of such Contributed Crop Loan beyond any applicable cure period; 

(iii) such Contributed Crop Loan has been released from the possession of the Custodian under the Custodial Agreement for a
period in excess of [***]; 
 (iv) such Contributed Crop Loan has been subject to a Transaction in excess of [***]; or 

(v) (A) such Crop Loan causes a Concentration Limit Violation under clause (viii) of the definition thereof to occur or
(B) upon the earlier to occur of (x) [***] from the Effective Date and (y) the date on which the aggregate outstanding Purchase Price of all Contributed Crop Loans is at least [***], such Crop Loan causes any Concentration Limit Violation
(other than clause (viii) of the definition thereof) to occur. 
 “[***] Date” means (a) any Purchase Date;
(b) during the months of [***]; (c) during any other months, [***] of such calendar month; (d) on any day that an Event of Default have occurred and is continuing; (e) any date when one of the events set forth in clauses (i)-(v) of
the definition of Asset Value shall occur and (f) any date on which Buyer provides notice to Seller that it has changed the Market Value of a Contributed Crop Loan. 

“Assignment and Acceptance” has the meaning set forth in Section 22(a) hereof. 

“Assignment of Indemnity” means an assignment of an Obligor’s right, title and interest in any indemnity payment and
other policy rights under a Crop Insurance Policy that satisfies the conditions necessary for a valid and effective assignment pursuant to 7 C.F.R. Section 457.8, or such successor regulations. 

  
 3 

 “Availability Period” means the period commencing on the Effective Date
through and including the earlier of (a) the later of (i) March 17, 2021 and (ii) any date agreed to by Buyer in writing if extended pursuant to Section 7 hereof and (b) such date as determined by
Buyer pursuant to its rights and remedies under the Agreement following an Event of Default. 
 “Bankruptcy Code” means the
United States Bankruptcy Code of 1978, as amended from time to time. 
 “Beneficial Ownership Certification” means a
certification regarding beneficial ownership required by the Beneficial Ownership Regulation. 
 “Beneficial Ownership
Regulation” means 31 C.F.R. § 1010.230. 
 “Broker” means ADM Investor Services, Inc. and its successors in
interest and assigns. 
 “Business Day” means any day other than (i) a Saturday or Sunday, (ii) a public or bank
holiday in New York City, Delaware, Texas, North Carolina, Minnesota, Ohio or in the Provinces of Ontario, Canada or Quebec, (iii) any day on which the New York Stock Exchange is closed, or (iv) any state where the offices of the Repo
Account Bank, Trustee or Custodian are authorized to be closed. 
 “Buyer” means National Founders LP and its successors in
interest and assigns pursuant to the terms hereof. 
 “Capital Lease Obligations” means, for any Person, all obligations of
such Person to pay rent or other amounts under a lease of (or other agreement conveying the right to use) Property to the extent such obligations are required to be classified and accounted for as a capital lease on a balance sheet of such Person
under GAAP, and, for purposes of the Agreement, the amount of such obligations shall be the capitalized amount thereof, determined in accordance with GAAP. 

“Capital Stock” means, as to any Person, any and all shares, interests, participations or other equivalents (however
designated) of capital stock of a corporation, any and all equivalent equity ownership interests in a Person which is not a corporation, including, without limitation, any and all member or other equivalent interests in any limited liability
company, limited partnership, or trust, and any and all warrants or options to purchase any of the foregoing, including, without limitation, all rights to participate in the operation or management of such Person and all rights to such Person’s
properties, assets, interests and distributions under the related organizational documents in respect of such Person. 
 “Cash
Equivalents” means (a) securities with maturities of [***] or less from the date of acquisition issued or fully guaranteed or insured by the United States Government or any agency thereof, (b) certificates of deposit and
eurodollar time deposits with maturities of [***] or less from the date of acquisition and overnight bank deposits of any commercial bank having capital and surplus in excess of [***], (c) repurchase obligations of any commercial bank satisfying the
requirements of clause (b) of this definition, having a term of not more than [***] with respect to securities issued or fully guaranteed or insured by the United States Government, (d) securities with maturities of [***] or less from the
date of acquisition issued or fully guaranteed by any state, commonwealth or territory of the United States, by any political subdivision or taxing authority of any such state, commonwealth or territory or by any foreign government, the securities
of which state, commonwealth, territory, political subdivision, taxing authority or foreign government (as the case may be) are rated at least “A” by S&P or “A” by Moody’s, or (e) securities with maturities of [***]
or less from the date of acquisition backed by standby letters of credit issued by any Affiliate of Buyer. 

  
 4 

 “Certificateholder” has the meaning assigned to such term in the Trust
Agreement. 
 “Certificate Register” has the meaning assigned to such term in the Trust Agreement. 

“Certificate Registrar” has the meaning assigned to such term in the Trust Agreement. 

“Change in Control” means any of the following events shall have occurred: 

(a) any transaction or event as a result of which UFG Holdings LLC ceases to own, whether beneficially or of record, directly
or indirectly, at least [***] of the Capital Stock of Guarantor; 
 (b) any transaction or event as a result of which
Guarantor ceases to own, whether beneficially or of record, directly or indirectly, [***] of the Capital Stock of Seller; 

(c) any transaction or event as a result of which Seller ceases to own, beneficially or of record, [***] of the Capital
Stock of the Trust Subsidiary, except as contemplated by the Transactions set forth herein; 
 (d) the sale, transfer, or
other disposition of all or substantially all of any Seller Party’s or Guarantor’s assets (excluding any such action taken in connection with any securitization transaction); or 

(e) the consummation of a merger or consolidation of the Seller or Guarantor with or into another entity or any other corporate
reorganization, if more than [***] of the combined voting power of the continuing or surviving entity’s stock outstanding immediately after such merger, consolidation or such other reorganization is owned by Persons who were not stockholders of
the Seller or Guarantor, as applicable, immediately prior to such merger, consolidation or other reorganization. 

“Code” means the Internal Revenue Code of 1986, as amended. 

“Collection Account” means the “Collection Account” and all related
sub-accounts, as defined in the Subservicing Agreement, established by the Subservicer pursuant to the terms of the Subservicing Agreement into which all collections, remittances and other proceeds on, or in
respect of, the Contributed Crop Loans shall be deposited by the Servicers, and which is subject to the Servicer Account Control Agreement. For the avoidance of doubt, the Collection Account shall not include other “collection accounts”
maintained by the Subservicer to hold amounts in respect of Crop Loans that are other than Contributed Crop Loans. 
 “Commitment
Fee” means (a) initially and upon the extension of the Termination Date, an amount equal to the product of (i) the Commitment Fee Percentage and (ii) the amount set forth in clause (a) of Maximum Aggregate Purchase
Price; and (b) upon Seller’s request to increase the Maximum Aggregate Purchase Price, an amount equal to the product of (i) the Commitment Fee Percentage and (ii) the requested increased amount. 

“Commitment Fee Percentage” means [***] 

“Concentration Limit Violation” means any of the following events shall occur: 

  
 5 

 (i) more than [***] of the aggregate outstanding Purchase Price consists of
Contributed Crop Loans made to the same Obligor or any Affiliate thereof; 
 (ii) more than [***] of the aggregate
outstanding Purchase Price consists of any single Crop (other than corn, soybean or wheat); 
 (iii) more than [***] of the
aggregate outstanding Purchase Price consists of Contributed Crop Loans that are located in any single county; 
 (iv) more
than [***] of the aggregate outstanding Purchase Price consists of Contributed Crop Loans that are located in any single state; 

(v) more than [***] of the aggregate outstanding Purchase Price consists of Contributed Crop Loans that are located in any two
(2) states; 
 (vi) more than [***] of the aggregate outstanding Purchase Price consists of Contributed Crop Loans that
are subject to Crop Insurance provided by a single Approved Insurance Provider; 
 (vii) more than [***] of the aggregate
outstanding Purchase Price consists of Contributed Crop Loans with an outstanding Purchase Price in excess of [***]; or 

(viii) more than [***] of the most recently reported aggregate expected revenue from all Contributed Crop Loans with the same
Obligor is subject to a forward sale agreement that would result in an economic cost to the related Obligor to the extent such Obligor fails to deliver the amount of Crops specified in such forward sale agreement. 

“Connection Income Taxes” means Other Connection Taxes that are imposed on or measured by net income (however denominated) or
that are franchise Taxes or branch profits Taxes. 
 “Contributed Crop Loan” means a Crop Loan, legal title of which is
held by the Trust Subsidiary, which is subject to a Transaction hereunder and/or listed on the related Asset Tape attached to the related Transaction Request and Confirmation, which such Asset Files the Custodian has been instructed to hold pursuant
to the Custodial Agreement. 
 “Crop” means all farm products including but not limited to crops growing or to be grown on,
and all crops that have been harvested or severed from the real estate. 
 “Crop Insurance” means loss revenue based
multi-peril crop insurance coverage without a harvest price exclusion (each as defined by the RMA) which is purchased by agricultural producers to indemnify and hold harmless against losses which occur as a result of either (i) loss of yield
due to natural disasters or (ii) loss of revenue due to declines in the prices of agricultural products, in each case, exceeding the applicable deductible amount issued either directly through the Federal Crop Insurance Corporation or private
insurance companies participating in the Federal Crop Insurance Program. 
 “Crop Insurance Policy” means a contract for
Crop Insurance for the then current Crop Year, issued by an Approved Insurance Provider to the Seller Parties. 
 “Crop
Loan” means a working capital loan under the “Advantage”, “Advantage Plus” or “Wheat” programs of the Approved Originator comprised of one or more advances, arising from the extension of credit to an Obligor in
the ordinary course of its business secured by, among other things, forward sale contracts, put options and Crop Insurance, the proceeds of which are used to finance the annual production expenses of the Crop for the current Crop Year. 

  
 6 

 “Crop Loan Advance” means an advance (including, without limitation, a
Draw) made to an Obligor in respect of a Contributed Crop Loan, together with interest accrued thereon and owing under the related Crop Loan Documents and the right arising under such Crop Loan Documents to receive any payment or any funds from or
on behalf of such Obligor, whether or not earned by performance, whether constituting an account, chattel paper, instrument, general intangible or otherwise, in each case, in accordance with the applicable working capital budget for such Contributed
Crop Loan, as more particularly described herein. 
 “Crop Loan Document” means, with respect to any Crop Loan, the related
Crop Loan Note and any related loan agreement, continuing guaranty, security agreement, mortgage, subordination agreement, Crop Insurance Policy and contributing documents, any Hedging Agreement, any lease or access agreement, any account control
agreements, any assignments of incentive payments, collateral assignments or commodity futures or options contracts, any Assignment of Indemnity, powers of attorney, financing statements, evidence of Crop inspection, lien search, listing of
potential buyers and other documents, instruments, certificates or assignments (including amendments or modifications thereof) executed by the Obligor thereof or by another Person on the Obligor’s behalf in respect of such Crop Loan and related
Crop Loan Note, including, without limitation, general or limited guaranties. 
 “Crop Loan Note” means any promissory note
evidencing the indebtedness of an Obligor under a Crop Loan and each Crop Loan Advance made in respect thereof, together with any modifications thereto. 

“Crop Year” means the period within which the insured crop is normally grown, regardless of whether or not it is actually
grown, and designated by the calendar year in which the insured crop is normally harvested. 
 “Crop Year Contributed
Loans” means, for any Crop Year, all Contributed Crop Loans whose proceeds were to be used to fund the growth of Crops to be harvested during the same Crop Year. 

“Custodial Agreement” means the custodial agreement, dated as of the date hereof, among Seller Parties, Buyer and Custodian
as the same may be amended, restated, supplemented or otherwise modified from time to time. 
 “Custodial Asset
Transmission” means the “Asset List” as such term is defined in the Custodial Agreement. 
 “Custodian”
means U.S. Bank National Association or such other party specified by Buyer and agreed to by the Seller Parties, which approval shall not be unreasonably withheld. 

“Default” means an Event of Default or an event that with notice or lapse of time or both would become an Event of Default.

 “Delaware LLC Act” means Chapter 18 of the Delaware Limited Liability Company Act, 6 Del. C. §§ 18-101 et seq., as amended. 
 “Distribution Worksheet” means a worksheet setting forth
the amounts and recipients of remittances to be made on the next succeeding Payment Date, in form and substance acceptable to Seller and Buyer. 

  
 7 

 “Dividend Payment” means any dividends with respect to any Capital Stock or
other equity interests in a Seller Party or Guarantor, whether now or hereafter outstanding, or any other distribution in respect thereof, either directly or indirectly, whether in cash or property or in obligations of such Seller Party or
Guarantor, as applicable. 
 “Division/Series Transaction” means, with respect to any Person that is a limited liability
company organized under the laws of the State of Delaware, that any such Person (a) divides into two or more Persons (whether or not the original Person or Subsidiary thereof survives such division) or (b) creates, or reorganizes into, one
or more series, in each case, as contemplated under the laws of the State of Delaware, including without limitation Section 18-217 of the Delaware LLC Act. 

“Dollars” or “$” means dollars in lawful currency of the United States of America. 

“Draw” means, with respect to a Crop Loan, an additional borrowing by the Obligor in accordance with the related Crop Loan
Documents. 
 “Draw Fee” means [***]. 

“ECCA” means that certain Electronic Collateral Control Agreement, by and among Seller Parties, Buyer, Custodian and
eOriginal, Inc. 
 “Effective Date” means the date hereof. 

“Eligible Asset” means (a) the Eligible Trust Certificate and (b) any Eligible Crop Loan. 

“Eligible Crop Loan” means a Crop Loan that satisfies the representations and warranties set forth on Schedule 1A with
respect thereto and is acceptable to Buyer in its sole discretion. 
 “Eligible Trust Certificate” means the Trust
Certificate that represents the Trust Subsidiary Interests that satisfy the applicable representations and warranties set forth on Schedule 1B with respect thereto and is acceptable to Buyer in its sole discretion. 

“ERISA” means the Employee Retirement Income Security Act of 1974, as amended from time to time and any successor thereto,
and the regulations promulgated and rulings issued thereunder. 
 “ERISA Affiliate” means any corporation or trade or
business that, together with any Seller Party or Guarantor, is treated as a single employer under Section 414(b) or (c) of the Code, or, solely for purposes of Section 302 of ERISA and Section 412 of the Code, is treated as a
single employer under Section 414 of the Code. 
 “Event of Default” has the meaning set forth in
Section 15 hereof. 
 “Event of Termination” means with respect to each Seller Party or Guarantor
(i) with respect to any Plan, a reportable event, as defined in Section 4043 of ERISA, as to which the PBGC has not by regulation waived the requirement of Section 4043(a) of ERISA that it be notified within [***] of the occurrence of
such event; (ii) the withdrawal of such Seller Party, Guarantor or any ERISA Affiliate thereof from a Plan during a plan year in which it is a substantial employer, as defined in Section 4001(a)(2) of ERISA; (iii) the failure by such
Seller Party, Guarantor or any ERISA Affiliate thereof to meet the minimum funding standard of Section 412 of the Code or Section 302 of ERISA with respect to any Plan, including, without limitation, the failure to make on or before its
due date a required installment under Section 430(j) of the Code or Section 303(j) of ERISA; (iv) the distribution under Section 4041 of ERISA 

  
 8 

 
of a notice of intent to terminate any Plan or any action taken by such Seller Party, Guarantor or any ERISA Affiliate thereof to terminate any Plan; (v) the failure to meet the requirements
of Section 436 of the Code resulting in the loss of qualified status under Section 401(a)(29) of the Code; (vi) the institution by the PBGC of proceedings under Section 4042 of ERISA for the termination of, or the appointment of
a trustee to administer, any Plan; (vii) the receipt by such Seller Party, Guarantor or any ERISA Affiliate thereof of a notice from a Multiemployer Plan that action of the type described in the previous clause (vi) has been taken by the
PBGC with respect to such Multiemployer Plan; or (viii) any event or circumstance exists which may reasonably be expected to constitute grounds for such Seller Party, Guarantor or any ERISA Affiliate thereof to incur liability under
Title IV of ERISA or under Section 430(k) of the Code with respect to any Plan. 
 “Excluded Taxes” means any of
the following Taxes imposed on or with respect to Buyer or required to be withheld or deducted from a payment to Buyer, (a) Taxes imposed on or measured by net income (however denominated), franchise Taxes, and branch profits Taxes, in each
case, (i) imposed as a result of Buyer being organized under the laws of, or having its principal office or its applicable lending office located in, the jurisdiction imposing such Tax (or any political subdivision thereof) or (ii) that
are Other Connection Taxes, (b) U.S. federal withholding Taxes imposed on amounts payable to or for the account of Buyer pursuant to a law in effect on the date on which (i) Buyer becomes a party to this Agreement or (ii) Buyer
changes the office from which it books the Transactions, except in each case to the extent that, pursuant to Section 11(a), amounts with respect to such Taxes were payable either to Buyer’s assignor immediately before
Buyer became a party hereto or to Buyer immediately before it changed the office from which it books the Transactions, (c) Taxes attributable to Buyer’s failure to comply with Section 11(e)(6) and (d) any
federal withholding Taxes imposed under FATCA. 
 “FATCA” means Sections 1471 through 1474 of the Code, as of the date of
this Agreement (or any amended or successor version that is substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof, any agreements entered into pursuant to
Section 1471(b)(1) of the Code and any fiscal or regulatory legislation, rules or practices adopted pursuant to any intergovernmental agreement, treaty or convention among Governmental Authorities and implementing such sections of the Code.

 “FDIA” has the meaning set forth in Section 26(c) hereof. 

“FDICIA” has the meaning set forth in Section 26(d) hereof. 

“Federal Crop Insurance Act” means the Federal Crop Insurance Act, 7 U.S.C. 150, as amended from time to time. 

“Federal Crop Insurance Corporation” means the wholly-owned government corporation established by and under authority of the
Federal Crop Insurance Act and administered by the RMA within USDA. 
 “Federal Crop Insurance Program” means the crop-hail
or multi-peril crop insurance program established and offered in accordance with the Federal Crop Insurance Act, as amended. 

“Fidelity Insurance” means insurance coverage with respect to employee errors, omissions, dishonesty, forgery, theft,
disappearance and destruction, robbery and safe burglary, property (other than money and securities) and computer fraud in an aggregate amount acceptable to Buyer. 

  
 9 

 “Foreign Buyer” means (a) if a Seller Party is a U.S. Person, a buyer
that is not a U.S. Person, and (b) if a Seller Party is not a U.S. Person, a buyer that is resident or organized under the laws of a jurisdiction other than that in which such Seller Party is resident for tax purposes. 

“GAAP” means generally accepted accounting principles in effect from time to time in the United States of America and applied
on a consistent basis. 
 “Governmental Authority” means any nation or government, any state or other political subdivision
thereof, or any entity exercising executive, legislative, judicial, regulatory or administrative functions over any Seller Party, Servicer, Guarantor or Buyer, as applicable. 

“Guarantee” means, as to any Person, any obligation of such Person directly or indirectly guaranteeing any Indebtedness of
any other Person or in any manner providing for the payment of any Indebtedness of any other Person or otherwise protecting the holder of such Indebtedness against loss (whether by virtue of partnership arrangements, by agreement to keep-well, to
purchase assets, goods, securities or services, or to take-or-pay or otherwise). The amount of any Guarantee of a Person shall be deemed to be an amount equal to the
stated or determinable amount of the primary obligation 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 such Person in good faith. The
terms “Guarantee” and “Guaranteed” used as verbs shall have correlative meanings. 

“Guarantor” means Finance of America Commercial LLC, in its capacity as guarantor under the Guaranty. 

“Guaranty” means the guaranty of the Guarantor dated as of the date hereof in favor of the Buyer as the same may be amended,
restated, supplemented or otherwise modified from time to time. 
 “Hedging Agreement” means, with respect to each
Contributed Crop Loan, each security agreement and assignment of hedging account, among Seller, as secured party, Obligor, as debtor, and Broker. 

“Income” means with respect to any Purchased Asset (or, in the case of a Purchased Asset that is a Trust Subsidiary Interest,
any Contributed Crop Loan held by the Trust Subsidiary) at any time until repurchased by the Seller (or such Contributed Crop Loan is released in accordance with Section 4 of this Agreement), any principal payments received
thereon or in respect thereof, all interest, dividends or other distributions thereon (which excludes for the avoidance of doubt, amounts on deposit in the Reserve Account), any payments made in respect of any related Crop Insurance Policy, property
or hazard insurance obtained by the Obligor, any subsidies received by the Obligor from any Governmental Authority, and any payments made in respect of any related Hedging Agreement. 

“Indebtedness” means, for any Person, at any time, and only to the extent outstanding at such time: (a) obligations
created, issued or incurred by such Person for borrowed money (whether by loan, the issuance and sale of debt securities or the sale of Property to another Person subject to an understanding or agreement, contingent or otherwise, to repurchase such
Property from such Person); (b) obligations of such Person to pay the deferred purchase or acquisition price of Property or services, other than trade accounts payable (other than for borrowed money) arising, and accrued expenses incurred, in
the ordinary course of business, so long as such trade accounts payable are payable within [***] of the date the respective goods are delivered or the respective services are rendered; (c) Indebtedness of others secured by a Lien on the
Property of such Person, whether or not the respective Indebtedness so secured has been assumed by such Person; (d) obligations (contingent or otherwise) of such Person in respect of letters of credit or similar instruments issued or accepted
by banks and other financial institutions for the account of such Person; 

  
 10 

 
(e) Capital Lease Obligations of such Person; (f) obligations of such Person under repurchase agreements, sale/buy-back agreements or like
arrangements, including, without limitation, any Indebtedness arising hereunder; (g) Indebtedness of others Guaranteed by such Person; (h) all obligations of such Person incurred in connection with the acquisition or carrying of fixed
assets by such Person and (i) Indebtedness of general partnerships of which such Person is a general partner. 
 “Indemnified
Party” has the meaning set forth in Section 29(a) hereof. 
 “Indemnified Taxes” means
(a) Taxes, other than Excluded Taxes, imposed on or with respect to any payment made by or on account of any obligation of the Seller Parties hereunder or under any Transaction Document and (b) to the extent not otherwise described in
clause (a), Other Taxes. 
 “Insurance Rating Requirements” means, with respect to an Approved Insurance Provider
meeting the requirements of the related mortgage, a claims-paying or financial strength rating of at least “A-:VIII” from A.M. Best Company or “A3” (or the equivalent) from Moody’s or “A-” from S&P. 
 “Insured Value” means as of any date of determination,
the sum of (a) (i) the then current actual federal crop insurance revenue guarantee coverage amount provided by the Federal Crop Insurance Corporation, in accordance with USDA guidelines and historical yield methodology (calculated for any
individual loan and crop, as the product of (1) the number of acres covered, (2) the approved yield per acre, (3) the coverage level, and (4) the greater of the projected price or harvest price) or (ii) if such insurance coverage
is not yet available, the estimated insurance coverage amount as determined by the Approved Originator in accordance with the approved underwriting guidelines; provided, that such guidelines shall follow the same formula as set forth in clause (i),
in each case, as such amount may be reduced from time to time in accordance with the terms of the applicable Crop Insurance Policy as a result of late plant or prevent plant, minus (b) the aggregate amount of cash received from any collateral
relating to such Crop Loan or any indemnity payments under the applicable Crop Insurance Policy received by the Obligor, the Servicer or any Seller Party. For the avoidance of doubt, (i) any portion of insurance coverage not guaranteed by the
Federal Crop Insurance Corporation shall not be included in this calculation and (ii) upon the rescission or termination of any Crop Insurance Policy, the Insured Value shall be reduced to [***]. 

“Irrevocable Instruction Letter” means that certain Irrevocable Instruction Agreement to Security Agreement and Assignment of
Hedging Account, dated as of March 18, 2020, among Buyer, Seller Parties, Broker and Master Servicer, as the same may be amended, restated, supplemented or otherwise modified from time to time which instructs Broker to remit all payments
payable to the Master Servicer under any Hedging Agreement (as defined therein) to the applicable Collection Account. 

“LIBOR” means, the rate determined by Buyer on the basis of the “BBA’s Interest Settlement Rate” offered for
[***] U.S. dollar deposits, as such rate appears on Bloomberg L.P.’s page “BBAM” as of [***] (London time) on the Business Day prior to the beginning of the related Pricing Period provided that if such rate does not appear on
Bloomberg L.P.’s page “BBAM” as of such time on such date, the rate for such date will be the rate determined by reference to the most recently published rate on Bloomberg L.P.’s page “BBAM”; provided,
further, that if such rate is no longer set on Bloomberg L.P.’s page “BBAM”, the rate of such date will be determined by reference to such other comparable publicly available service publishing such rates as may be selected by
Buyer in its sole discretion, which rates have performed or are expected by Buyer to perform in a manner substantially similar to the rate appearing on Bloomberg L.P.’s page “BBAM”, and which rate will be communicated to Seller. 

“Lien” means any mortgage, lien, pledge, charge, security interest or similar encumbrance. 

  
 11 

 “Liquidity” means the sum of (a) cash (other than Restricted Cash) and
(b) unrestricted and unencumbered Cash Equivalents. 
 “Margin Call” has the meaning set forth in
Section 6(a) hereof. 
 “Margin Deadline” means, to the extent a Margin Call is made pursuant to
Section 6(a) hereof: 
 (a) as a result of Buyer reducing the Asset Value due to an event described in clauses (i)-(v) of the definition
thereof, [***] from the date the Margin Call is given to Seller pursuant to Section 6(b) hereof; and 
 (b) as the
result of any other Margin Deficit, the Business Day from the date the Margin Call is given to Seller pursuant to Section 6(b) hereof designated below under the heading “Margin Deadline” which corresponds to the
applicable Margin Deficit Percentage: 
  

			
	 Margin Deficit Percentage
	  	Margin Deadline
	[***]	  	[***]
	[***]	  	[***]
	[***]	  	[***]
	[***]	  	[***]
	[***]	  	[***]

 provided, however, that to the extent any Margin Deficit Percentage is reduced on or prior to
the applicable Margin Deadline in accordance with Section 6(a) hereof such that a lower Margin Deficit Percentage exists and a different Margin Deadline would apply, then the cure period for the Margin Deficit shall be
extended by the number of Business Days by which the new applicable Margin Deadline exceeds the then existing Margin Deadline. 

“Margin Deficit” has the meaning set forth in Section 6(a) hereof. 

“Margin Deficit Percentage” means the percentage equal to the Margin Deficit divided by (a) the outstanding Release
Price for a Contributed Crop Loan or (b) the Repurchase Price for the Purchased Assets, in each case, determined as of the Business Day the Margin Call is made. 

“Market Value” means, with respect to any Purchased Asset or Contributed Crop Loan as of any date of determination, the
market value of such Purchased Asset or Contributed Crop Loan on such date as determined by Buyer (or an Affiliate thereof) in its sole discretion. Without limiting the generality of the foregoing, Buyer will not (i) deem the Market Value for
any Contributed Crop Loan to be greater than par; (ii) deem the Market Value of any Purchased Asset to be greater than the combined Market Values of the Contributed Crop Loans and (iii) include any undrawn amounts in respect of any
Contributed Crop Loan in its determination of Market Value. Buyer’s determination of Market Value shall be conclusive upon the parties absent manifest error. 

  
 12 

 “Master Servicer” means FarmOp Capital, LLC or any other Third Party
Servicer appointed by Buyer in its sole discretion. 
 “Master Servicer Indemnity Cap” has the meaning set forth in
Section 8(b)(i) hereof. 
 “Master Servicing Agreement” means that certain Amended and Restated
Servicing Agreement, dated as of March 16, 2020 entered into between Seller Parties and Master Servicer, as the same may be amended, restated, supplemented or otherwise modified from time to time. 

“Master Servicer Side Letter” means (a) that certain master servicer side letter, dated as of March 18, 2020, among
Buyer, Seller Parties and Master Servicer as the same may be amended, restated, supplemented or otherwise modified from time to time and (b) any other letter agreement in form and substance acceptable to the parties which, in the case of
clauses (a) and (b), instructs Master Servicer to take direction from Buyer pursuant to the terms therein. 

“Material Adverse Effect” means (a) a material adverse change in, or a material adverse effect upon, the operations,
business, properties, or condition (financial or otherwise) of any Seller Party or Guarantor individually or any Seller Party, Guarantor or any Affiliate that is a party to any Transaction Document taken as a whole; (b) a material impairment of
the ability of any Seller Party or Guarantor individually or any Seller Party, Guarantor or any Affiliate that is a party to any Transaction Document to perform under any Transaction Document and to avoid any Event of Default; or (c) a material
adverse effect upon the legality, validity, binding effect or enforceability of any Transaction Document against any Seller Party, Guarantor or any Affiliate that is a party to any Transaction Document, in each case as determined by Buyer in its
reasonable discretion. 
 “Maximum Aggregate Purchase Price” means (a) on the Effective Date, [***] or (b) on any
day thereafter, the amount increased or decreased pursuant to Section 7 hereof, which in no event shall exceed [***]. 

“Monthly Compliance Certificate” means a certificate substantially in the form of Exhibit B attached hereto. 

“Moody’s” means Moody’s Investors Service, Inc. or any successors thereto. 

“Multiemployer Plan” means a multiemployer plan defined as such in Section 3(37) of ERISA to which contributions have
been or are required to be made by any Seller Party or any ERISA Affiliate and that is covered by Title IV of ERISA. 
 “Net
Income” means, with respect to any Person for any period, the consolidated net income for such period of such Person as reported in such Person’s financial statements prepared in accordance with GAAP. 

“Non-Recourse Debt” means Indebtedness payable solely from the assets sold or pledged
to secure such Indebtedness under which facility no purchaser or creditor has recourse to Guarantor or any of its Affiliates if such assets are inadequate or unavailable to pay off such Indebtedness, and neither Guarantor nor any of its Affiliates
effectively has any obligation to directly or indirectly pay any such deficiency. 

“Non-Usage Fee” means the product of (a) [***] per annum calculated on the basis of a
360 day year and (b) the excess (if any) of (i) the Maximum Aggregate Purchase Price over (ii) the average aggregate outstanding Purchase Price of the Purchased Assets and Contributed Crop Loans (without duplication) during such
calendar month. 

  
 13 

 “Non-Usage Threshold” means the
greater of (a) [***] and (b) [***] (1/2) of the then current Maximum Aggregate Purchase Price. 
 “Notice Date” has the
meaning set forth in Section 3(c) hereof. 
 “Obligations” means (a) all of each Seller
Party’s obligations to pay the Repurchase Price on the Repurchase Date, the Release Price on any Release Date, the Price Differential on each Payment Date, and other obligations and liabilities of such Seller Party and Guarantor, to Buyer or
Custodian arising under, or in connection with, the Transaction Documents, whether now existing or hereafter arising; (b) any and all sums paid by Buyer in order to preserve any Purchased Asset, Contributed Crop Loan or its interest therein;
(c) in the event of any proceeding for the collection or enforcement of any such Seller Party’s indebtedness, obligations or liabilities referred to in clause (a), the reasonable expenses of retaking, holding, collecting, preparing
for sale, selling or otherwise disposing of or realizing on any Purchased Asset or Contributed Crop Loan, or of any exercise by Buyer of its rights under the Transaction Documents, including, without limitation, attorneys’ fees and
disbursements and court costs; and (d) all of each Seller Party’s and Guarantor’s indemnity obligations to Buyer and Custodian pursuant to the Transaction Documents. 

“Obligor” means, with respect to any Contributed Crop Loan, the Person or Persons obligated to make payments in respect
thereof (including, without limitation, any co-signer or guarantor for a Person so obligated). 

“OFAC” has the meaning set forth in Section 13(a)(24) hereof. 

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

“Other Taxes” means all present or future stamp, court or documentary, intangible, recording, filing or similar Taxes that
arise from any payment made under, from the execution, delivery, performance, enforcement or registration of, from the receipt or perfection of a security interest under, or otherwise with respect to, any Transaction Document or the Purchased Assets
and the related Contributed Crop Loans, but not Taxes that are Other Connection Taxes imposed with respect to an assignment (other than an assignment expressly consented to by Seller). 

“Payment Date” means the [***] of the month; provided that the final Payment Date shall be the related
Repurchase Date or Release Date, as applicable; and provided, further, that if any Payment Date would fall on a day which is not a Business Day, such Payment Date shall be the next succeeding Business Day. 

“PBGC” means the Pension Benefit Guaranty Corporation or any entity succeeding to any or all of its functions under ERISA.

  
 14 

 “Permitted Lien”, means, any of the following Liens that may be imposed
with respect to a Contributed Crop Loan, (a) Liens for Taxes imposed by any Governmental Authority not yet due and delinquent or which are being contested in good faith by appropriate proceedings and for which appropriate reserves have been
established in accordance with GAAP; (b) Liens imposed by Requirements of Law and/or operation of law, such as materialmen’s, landlord’s, labor/mechanic’s, supplier/input’s, mechanics’, carriers’, workmen’s,
repairmen’s and similar Liens, arising in the ordinary course of business securing obligations that are not overdue for more than [***] or otherwise which are being contested in good faith by appropriate proceedings and for which appropriate
reserves have been established; (c) covenants, conditions and restrictions, rights of way, easements and other matters of public record; and (d) any Liens subordinated to the rights of Seller pursuant to a fully executed subordination
agreement in a form substantially similar to those provided to Buyer prior to the Effective Date or otherwise acceptable to Buyer in its sole discretion. 

“Person” means 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” means an employee benefit or other plan established or maintained by any Seller Party, Guarantor or any ERISA
Affiliate and covered by Title IV of ERISA, other than a Multiemployer Plan. 
 “Post Default Rate” means an annual
rate of interest equal to the Pricing Rate plus an additional [***]. 
 “Power of Attorney” means each Power of Attorney
substantially in the form of Exhibit C-1 and Exhibit C-2 hereto. 

“Price Differential” means with respect to any Transaction as of any date of determination, an amount equal to the product of
(A) the Pricing Rate for such Transaction and (B) the Purchase Price (or Purchase Price Increase, as applicable) for such Transaction, calculated daily on the basis of a three hundred sixty (360) day year for the actual number of days
during the period commencing on (and including) the Purchase Date or the Purchase Price Increase Date, as applicable, for such Transaction and ending on (but excluding) the Repurchase Date or Release Date, as applicable. For the avoidance of doubt,
Price Differential accrues from the Payment Date (or, with respect to the first (1st) Payment Date for each Transaction, from and including the related Purchase Date) through but excluding the
next Payment Date. 
 “Pricing Floor” means [***]. 

“Pricing Period” means, with respect to each Payment Date, [***] of the prior calendar month (or, with respect to the first
(1st) Pricing Period for the Transaction, from and including the Purchase Date) to the [***] of the prior calendar month, unless otherwise agreed to by the Buyer and the Seller in writing. 

“Pricing Rate” means, with respect to each Purchased Asset and Contributed Crop Loan, during the applicable Pricing Period, a
rate per annum equal to the sum of (a) the greater of (i) LIBOR and (ii) the Pricing Floor plus (b) [***]. 

“Principal Prepayment” means, for any Contributed Crop Loan, any amount applied to reduce the principal or other invested
amount of such Contributed Crop Loan, other than a scheduled principal payment, including (i) principal prepayments from any source and of any nature whatsoever, (ii) net insurance proceeds, to the extent applied to reduce the principal
amount or other invested amount of the related Contributed Crop Loan, and (iii) any net proceeds from any sale, refinancing, liquidation or other disposition of the Crop relating to such Contributed Crop Loan to the extent applied to reduce the
principal amount or the invested amount of the related Contributed Crop Loan. 

  
 15 

 “Prohibited Person” has the meaning set forth in
Section 13(a)(24) hereof. 
 “Property” means any right or interest in or to all farm products,
inventory, equipment and other goods and other property of any kind whatsoever, whether real, personal or mixed and whether tangible or intangible. 

“Purchase Date” means the date on which the Purchased Assets that are the subject of such Transaction are to be transferred
by Seller to Buyer and in the case of a Transaction involving a Contributed Crop Loan, any date on which a Purchase Price Increase is funded by the Buyer in connection with the acquisition by the Trust Subsidiary of such Contributed Crop Loan. 

“Purchase Price” means: 

(a) on the initial Purchase Date for such Purchased Asset, the price at which such Purchased Asset is transferred by the Seller to Buyer, which
price shall equal the sum of the Asset Values of each Eligible Crop Loan in the Trust Subsidiary on such Purchase Date; and 
 (b) on any day
after the initial Purchase Date for such Purchased Asset, except where Buyer and the Seller Parties agree otherwise, the amount determined under the immediately preceding clause (a) (i) increased by the amount of any Purchase Price
Increase funded by Buyer in respect of such Purchased Asset since the Purchase Date of such Purchased Asset and (ii) decreased by the amount of any cash transferred by the Seller Parties or Guarantor to Buyer to reduce the Purchase Price of
such Purchased Asset or any Purchase Price Increase in respect thereof (in an amount equal to the Release Price for the related Contributed Crop Loan), in accordance with the Transaction Documents. 

“Purchase Price Increase” means (a) in connection with the acquisition of any Contributed Crop Loan that is an Eligible
Crop Loan by the Trust Subsidiary, an increase in the Purchase Price of the Purchased Asset in an amount equal to the Asset Value of such Contributed Crop Loan as of the Purchase Date for such Contributed Crop Loan and (b) an increase in the
Purchase Price in connection with a Draw on an Eligible Crop Loan, as requested by any Seller Party pursuant to Section 3(b) hereof. 

“Purchase Price Increase Date” means the date on which a Purchase Price Increase is made. 

“Purchase Price Percentage” means, with respect to each Contributed Crop Loan (a) for which the related insurance period
under the Crop Insurance Policy has not expired, [***] and (b) for which the related insurance period under the Crop Insurance Policy has expired, [***]. 

“Purchased Asset Documents” means (a) the documentation governing a Purchased Asset, (b) with respect to a
Contributed Crop Loan, the Crop Loan Documents, and (c) in the case of clauses (a) and (b), all ancillary documents related thereto. 

“Purchased Assets” means the collective reference to the Trust Subsidiary Interests (representing a beneficial interest in
the Contributed Crop Loans and represented by the Eligible Trust Certificate), together with the Repurchase Assets related to such Trust Subsidiary Interests transferred by Seller to Buyer in a Transaction hereunder, listed on the related Asset Tape
attached to the related Transaction Request and Confirmation. 

  
 16 

 “QIB” means a “Qualified Institutional Buyer” as defined under
Rule 144A of the 1934 Act. 
 “Records” means all instruments, agreements and other books, records, and reports and data
stored in other media for the storage of information maintained by each Seller Party, Guarantor, Servicer or any other Person or entity with respect to a Purchased Asset or Contributed Crop Loan. Records shall include the Crop Loan Notes, any
Purchased Asset Documents, the Asset Files, the credit files related to the Purchased Asset and Contributed Crop Loans and any other instruments necessary to document or service a Purchased Asset and/or Contributed Crop Loan (including, in the case
of Trust Subsidiary Interests, the Trust Certificates representing such Trust Subsidiary Interests issued by the Trust Subsidiary). 

“Register” has the meaning set forth in Section 22(a) hereof. 

“Release Date” means with respect to each Contributed Crop Loan, the date on which the Seller Parties shall, or shall be
required to, pay to Buyer the Release Price. 
 “Release Price” means, with respect to each Contributed Crop Loan, the sum
of (a) the portion of the Purchase Price attributable to such Contributed Crop Loan and (b) the portion of any accrued unpaid Price Differential attributable to such Contributed Crop Loan, in each case, as of the Release Date. 

“Remaining Pro Rata Collections” means, for each applicable Crop Year Contributed Loans, an amount equal to the aggregate
remaining amount of collections after deductions pursuant to items first through fifth in Section 8(b) hereof, pro-rated based on the percentage of the aggregate Repurchase Price for the applicable Crop
Year Contributed Loans to the aggregate Repurchase Price attributable for all Contributed Crop Loans. 
 “Remittance Date”
has the meaning assigned to such term in the Subservicing Agreement. 
 “Repledge Transaction” has the meaning set forth in
Section 18 hereof. 
 “Repledgee” has the meaning set forth in
Section 18 hereof. 
 “Repo Account” means that certain deposit account established by the Seller
with the Repo Account Bank for the benefit of Buyer, into which all collections and proceeds on or in respect of the Purchased Assets and Contributed Crop Loans shall be deposited by Subservicer pursuant to the Subservicer Side Letter, and which is
subject to the Repo Account Control Agreement. 
 “Repo Account Bank” means Western Alliance Bank in its capacity as
deposit bank under the Repo Account Control Agreement. 
 “Repo Account Control Agreement” means that certain Deposit
Account Control Agreement, dated on or about the date hereof, among Buyer, Seller, and Repo Account Bank, as the same may be amended, restated, supplemented or otherwise modified from time to time. 

“Repurchase Assets” has the meaning set forth in Section 9(a)(ii) hereof. 

“Repurchase Date” means the earlier of (i) the Termination Date, (ii) the date requested pursuant to Sections
4(a), 4(b) and 4(c) hereof, (iii) the date set forth in the applicable Transaction Request and Confirmation executed by Buyer or (iv) the date determined by application of Section 16 hereof. 

  
 17 

 “Repurchase Percentage” means, as of any date of determination, the
aggregate Repurchase Price of all applicable Crop Year Contributed Loans, divided by the aggregate Asset Value of all applicable Crop Year Contributed Loans. 

“Repurchase Price” means the price at which Purchased Assets (including any beneficial interest in any Contributed Crop Loan)
are to be transferred from Buyer to Seller upon termination of a Transaction, which will be determined in each case (including Transactions terminable upon demand) as the sum of (i) the Purchase Price and (ii) the accrued but unpaid Price
Differential as of the date of such determination. 
 “Requirements of Law” means, with respect to any Person, any law,
treaty, rule or regulation or determination of an arbitrator, a court or other Governmental Authority, applicable to or binding upon such Person or any of its Property or to which such Person or any of its Property is subject. 

“Reserve Account” means the “Reserve Account” and all related sub-accounts,
as defined in the Subservicing Agreement, established by the Subservicer pursuant to the terms of the Subservicing Agreement into which the proceeds of each Contributed Crop Loan and any interest reserve amounts related thereto are held, and which
is subject to the Servicer Account Control Agreement. For the avoidance of doubt, the Reserve Account shall not include other “reserve accounts” maintained by the Subservicer to hold amounts in respect of Crop Loans that are other than
Contributed Crop Loans. 
 “Responsible Officer” means, with respect to (i) the Trustee or the Certificate Registrar,
only those officers working in the Corporate Trust Office of the Trustee having direct responsibility for the administration of this Agreement, and (ii) as to any other Person, the chief executive officer or, with respect to financial matters,
the chief financial officer of such Person. 
 “Restricted Cash” means for any Person, any amount of cash of such Person
that is contractually required to be set aside, segregated or otherwise reserved. 
 “Right of First Offer Letter” means
that certain Right of First Offer Letter, dated as of the date hereof, among Buyer and Seller Parties. 
 “RMA” means the
Risk Management Agency, an agency of the U.S. Department of Agriculture, which manages the Federal Crop Insurance Corporation. 

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

“Sanctions” means any sanctions administered or imposed by OFAC, the United States Department of State, the United Nations
Security Council, the Government of Canada, Her Majesty’s Treasury, the European Union (or any member state thereof), or other Governmental Authority that enforces sanctions. 

“SEC” means the Securities and Exchange Commission, or any successor thereto. 

“Security Agreement and Assignment of Hedging Account” means each Security Agreement and Assignment of Hedging Account
entered into among Master Servicer, each Obligor and Broker in connection with a Contributed Crop Loan. 
 “Seller” means
FACO Crop Loans LLC, a Delaware limited liability company or its permitted successors and assigns. 

  
 18 

 “Seller Party” means each of Seller and Trust Subsidiary. 

“Seller Repurchase Assets” has the meaning assigned thereto in Section 9(a)(i) hereof. 

“Servicer” means each of (a) the Master Servicer, (b) the Subservicer, and (c) any other Third Party Servicer
appointed to act as a servicer, subservicer or back-up servicer, in each case, as appointed by the Seller Parties and approved by Buyer in its sole discretion. 

“Servicer Account” means each of the Reserve Account and the Collection Account, each of which is subject to the Servicer
Account Control Agreement. 
 “Servicer Account Control Agreement” means that certain Deposit Account Control Agreement,
dated as of March 18, 2020, among Buyer, Seller Parties, KeyBank National Association, in its capacity as bank, Master Servicer and Subservicer, as the same may be amended, restated, supplemented or otherwise modified from time to time. 

“Servicer Reporting Date” means [***] prior to each Payment Date. 

“Servicer Termination Event” means, with respect to the applicable Servicer, the occurrence of any of the following
conditions or events: 
 (a) Seller Parties or Buyer shall have received notice or shall have actual knowledge that such Servicer has
violated any representation, warranty or covenant under the applicable Servicing Agreement, Master Servicer Side Letter or Subservicer Side Letter, as applicable 

(b) an event of default has occurred and is continuing beyond any applicable notice or grace periods under the related Servicing Agreement with
respect to such Servicer; 
 (c) a Material Adverse Effect shall occur with respect to such Servicer; or 

(d) with respect to FarmOp Capital, LLC in its capacity as a Servicer, Keir Renick ceases, at any time, to manage and lead the day-to-day business, operations, management and strategy of FarmOp Capital, LLC in the same or similar capacity as of the Effective Date. 

“Servicing Agreement” means each of (a) the Master Servicing Agreement, (b) the Subservicing Agreement, and
(c) any other servicing or subservicing agreement entered into among the Seller Parties and any Third Party Servicer, in each case, as approved by Buyer in its sole discretion. 

“Servicing Fee Cap” has the meaning set forth in Section 8(b)(i) hereof. 

“Servicing Report” means each report required to be delivered by any Servicer pursuant to the related Servicing Agreement,
which shall include, without limitation, (i) confirmation of proper use of the Crop Loan Advances by Obligors (if applicable), (ii) proof of timely payment by Obligors (if applicable), (iii) number of the Crop Loan Advances made within such
reporting period, (iv) monthly cash flow and bank statements, (v) Crop budget report detailing projected versus actual use of Crop Loan Advances used by Obligor, (vi) insurance monitoring reports, (vii) Crop monitoring reports
and (viii) other information as Buyer may request in its sole discretion, in each case, remitted by the applicable Servicer in form and substance acceptable to Buyer. 

  
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 “Servicing Rights” means contractual, possessory or other rights of the
Seller Parties or Guarantor arising hereunder or any other Person arising under a Servicing Agreement, or otherwise, to administer, service or subservice, the Purchased Assets and the related Contributed Crop Loans or to possess related Records.

 “SIPA” means the Securities Investor Protection Act of 1970, as amended from time to time. 

“Subservicer” means KeyBank National Association or any other Third Party Servicer approved by Buyer in its sole discretion.

 “Subservicer Side Letter” means (a) that certain subservicer side letter, dated as of March 18, 2020, among
Buyer, Seller Parties, Master Servicer and Subservicer as the same may be amended, restated, supplemented or otherwise modified from time to time and (b) any other letter agreement in form and substance acceptable to the parties which, in the
case of clauses (a) and (b), instructs Subservicer to remit payments to the Repo Account. 
 “Subservicing
Agreement” means that certain Amended and Restated Administration Agreement, dated as of March 16, 2020 entered into between Master Servicer and Subservicer, as the same may be amended, restated, supplemented or otherwise modified from
time to time. 
 “Subsidiary” means, with respect to any Person, any corporation, partnership or other entity of which at
least a majority of the securities or other ownership interests having by the terms thereof ordinary voting power to elect a majority of the board of directors or other persons performing similar functions of such corporation, partnership or other
entity (irrespective of whether or not at the time securities or other ownership interests of any other class or classes of such corporation, partnership or other entity shall have or might have voting power by reason of the happening of any
contingency) is at the time directly or indirectly owned or controlled by such Person or one (1) or more Subsidiaries of such Person or by such Person and one (1) or more Subsidiaries of such Person. 

“Tangible Net Worth” means, with respect to any Person on a consolidated basis on any day, the amount that, in accordance
with GAAP, should be shown as owner’s equity on such Person’s balance sheet at such date but excluding (i) all assets that are properly classified as intangible assets and (ii) loans or advances to, or receivables from, any
owner, officer or employee of such Person. 
 “Taxes” means all present or future taxes, levies, imposts, duties,
deductions, withholdings (including backup withholding), assessments, fees or other charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto. 

“Termination Date” means the earlier of (a) the later of (i) September 16, 2021 and (ii) any date agreed
to by Buyer in writing if extended pursuant to Section 7 hereof and (b) such date as determined by Buyer pursuant to its rights and remedies under this Agreement following an Event of Default. 

“Third Party Servicer” means any servicer or subservicer (other than the Seller) of the Purchased Assets and the related
Contributed Crop Loans or a portion thereof. 
 “Transaction” has the meaning set forth in
Section 1 hereof. 
 “Transaction Document” means, collectively, this Agreement, the Guaranty,
the Trust Agreement, the Custodial Agreement, the Repo Account Control Agreement, the Servicer Account Control Agreement, each Power of Attorney, the Master Servicing Agreement, the Master Servicer Side Letter, the Subservicing Agreement, the
Subservicer Side Letter, the Irrevocable Instruction Letter, the Right of First Offer Letter, any Verification Agent Agreement, the ECCA and all executed Transaction Requests and Confirmations. 

  
 20 

 “Transaction Request and Confirmation” means a request from Seller to
Buyer, in the form attached as Exhibit A hereto, to enter into a Transaction, which shall not be binding upon Buyer unless and until countersigned by Buyer and delivered to Seller. For the avoidance of doubt, a Transaction Request and
Confirmation may refer to multiple Purchased Assets and Contributed Crop Loans; provided that each Purchased Asset or Contributed Crop Loan shall be deemed to be subject to its own Transaction. 

“Trust Agreement” means that certain Amended and Restated Trust Agreement of the Trust Subsidiary, dated as of March 18,
2020, between the Seller, as depositor and administrator and the Trustee. 
 “Trust Certificates” means, collectively, the
certificates evidencing [***] of the Trust Subsidiary Interests in the Trust Subsidiary. 
 “Trust Receipt” means a trust
receipt, substantially in the form attached as an exhibit to the Custodial Agreement, issued by Custodian to Buyer confirming the Custodian’s possession of certain Asset Files which are the property of Buyer and held by Custodian for the
benefit of Buyer (or any other holder of such trust receipt) or a bailment arrangement with counsel or other third party acceptable to Buyer in its sole and absolute discretion. 

“Trust Subsidiary” means FACo Crop Loan Financing Trust C1, a Delaware statutory trust and its permitted successors and
assigns. 
 “Trust Subsidiary Interests” means any and all of the Capital Stock in the Trust Subsidiary including, without
limitation, all its rights to participate in the operation or management of Trust Subsidiary and all its rights to properties, assets, trust interests and distributions under the Trust Agreement in respect of such trust interests. “Trust
Subsidiary Interests” also include: (i) all accounts receivable arising out of the Trust Agreement; (ii) all general intangibles arising out of the Trust Agreement; and (iii) to the extent not otherwise included, all proceeds of
any and all the foregoing (including within proceeds, whether or not otherwise included therein, and any and all contractual rights of the Seller under any revenue sharing or similar agreement to receive all or any portion of the revenues or profits
of Trust Subsidiary). 
 “Trust Subsidiary Repurchase Assets” has the meaning assigned thereto in
Section 9(a)(ii) hereof. 
 “Trustee” means U.S. Bank Trust National Association, not in its
individual capacity, but solely as owner trustee under the Trust Agreement. 
 “Trustee Indemnity Cap” has the meaning set
forth in Section 8(b)(ii) hereof. 
 “Underwriting Guidelines” means, with respect to any Crop
Loan, (a) the standards, procedures and guidelines of the Approved Originator for underwriting Crop Loans, which and are set forth in the written policies and procedures of the Approved Originator and, with the consent of the Buyer to be
provided in writing, may be amended, modified, restated, or supplemented from time to time, and (b) such other guidelines as are identified to and approved in writing by Buyer, in each case, a copy of which has been provided to Buyer. 

“Uniform Commercial Code” or “UCC” means the Uniform Commercial Code as in effect on the date hereof in the
State of New York or the Uniform Commercial Code as in effect in the applicable jurisdiction. 

  
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 “U.S. Person” means any Person that is a “United States Person”
as defined in Section 7701(a)(30) of the Code. 
 “U.S. Tax Compliance Certificate” has the meaning set forth in
Section 11(e)(7)(b)(iii) hereof. 
 “Verification Agent Agreement” means any agreement
entered into by and among Buyer, the Seller Parties and a third-party agent for the purpose of verifying certain information with respect to a Contributed Crop Loan and the related Crop Loan Documents. 

“Withholding Agent” means any Seller Party and Guarantor. 

“Yield Maintenance Fee” means an amount equal to difference of (a) the product of (i) the Non-Usage Threshold during such Yield Maintenance Period, multiplied by (ii) the Pricing Rate (provided, that LIBOR shall be determined as of the [***] of the Yield Maintenance Period) and multiplied by
(iii) to the extent (x) the Termination Date is extended, [***] and (y) to the extent the Termination Date is not extended, [***], minus (b) the sum of (i) all total amounts of Price Differential paid to Buyer plus
(ii) any Non-Usage Fees paid to Buyer during the applicable Yield Maintenance Period. 

“Yield Maintenance Period” means, initially, the period of time commencing on the Effective Date through the Termination
Date, and to the extent the Termination Date is extended, the period of time commencing on the [***] of such extension through and including the [***] of the extended Termination Date. 

3. Program; Commitment Fee; Initiation of Transactions 

a. From time to time during the Availability Period and subject to the terms and conditions hereof, (i) Buyer shall purchase from Seller
certain Eligible Assets and (ii) Buyer shall fund Purchase Price Increases with respect to any Trust Subsidiary Interests that are requested by Seller under this Agreement in connection with the acquisition by Trust Subsidiary of Eligible Crop
Loans that have been originated by an Approved Originator, sold to Seller and deposited to the Trust Subsidiary in accordance with the terms of the Transaction Documents. The aggregate Purchase Price of all Purchased Assets (after giving effect to
any Purchase Price Increases funded by Buyer in accordance with this Agreement) that are subject to outstanding Transactions shall not exceed the Maximum Aggregate Purchase Price. 

b. On the initial Purchase Date, subject to the terms and conditions hereof, Buyer shall purchase the Trust Subsidiary Interests from the
Seller. From time to time Seller may request and Buyer shall fund, Purchase Price Increases in respect of any Trust Subsidiary Interest in connection with (i) the acquisition of Contributed Crop Loans by Trust Subsidiary pursuant to the terms
hereof and (ii) any additional Draws made to the Obligor with respect to a Contributed Crop Loan. 
 c. With respect to each
Transaction, Seller shall give Buyer at least [***] prior notice (which may be delivered via email) of any proposed Purchase Date (the date on which such notice is given, the “Notice Date”). On the Notice Date, the Seller Parties
shall (i) request that Buyer enter into a Transaction by furnishing to Buyer a Transaction Request and Confirmation (with respect to each Eligible Asset, including any Contributed Crop Loans for which Seller has requested a corresponding
Purchase Price Increase hereunder); (ii) deliver to Buyer, Verification Agent and Custodian an Asset Tape and (iii) any additional information reasonably requested by the Verification Agent. 

  
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 d. Following receipt of a Transaction Request and Confirmation, Asset Tape and the other
documents required under Section 10 hereof, Buyer shall, as hereinafter provided purchase any Eligible Assets proposed to be sold to Buyer by the Seller Parties hereunder and fund any requested Purchase Price Increase in
connection with the acquisition by Trust Subsidiary of any Eligible Crop Loan. Buyer shall have the right to review (i) all Eligible Assets proposed to be sold hereunder and (ii) all Eligible Crop Loans proposed to be contributed to the
Trust Subsidiary in exchange for a Purchase Price Increase hereunder and to conduct its own due diligence investigation of such Eligible Assets as Buyer determines. Upon completion of its review, Buyer shall purchase any or all of such Eligible
Assets (or to fund any Purchase Price Increase in connection with any Eligible Asset that is a Contributed Crop Loan) and consistent with this Agreement, confirm the terms for each such proposed Transaction, including the Purchase Price (or Purchase
Price Increase in the case of a Transaction involving a Contributed Crop Loan), Purchase Price Percentage, the Pricing Rate, and the Repurchase Date or Release Date, as applicable, for such Transaction. The terms of each Transaction shall be set
forth in the Transaction Request and Confirmation signed by the Seller Parties, and countersigned by Buyer, to be returned to Seller Parties on or prior to the Purchase Date. To the extent any term in the Transaction Request and Confirmation is
incomplete or inconsistent with, or otherwise adds terms to the agreement, or to the extent Buyer does not enter into a Transaction due to the Seller’s failure to meet the conditions set forth in Section 10 hereof,
Buyer shall have no obligation to execute and/or deliver the Transaction Request and Confirmation to Seller Parties. 
 e. Upon transfer of
the Trust Subsidiary Interests to Buyer as set forth herein and until termination of such Transaction as set forth herein, ownership of the Trust Subsidiary Interests, as Purchased Assets, shall be vested in the Buyer, subject to all terms and
conditions hereof and the other Transaction Documents, as and to the extent provided in Section 3(f) below, and the Purchase Price of the Trust Subsidiary Interests shall be adjusted from time to time, as provided herein,
in connection with the acquisition of Contributed Crop Loans by the Trust Subsidiary. Title to each Contributed Crop Loan, including each document in the related Asset File and Records, shall be transferred to, and retained by, the Trust Subsidiary
(until released by the Trust Subsidiary in accordance with this Agreement). 
 f. Upon the satisfaction of the applicable conditions
precedent set forth in Section 10 hereof, (i) all of Seller’s interest in the Purchased Assets and the related Repurchase Assets shall pass to Buyer on the Purchase Date, against the transfer of the Purchase Price
to Seller, and (ii) all of Seller’s interest in each Contributed Crop Loan and the related Trust Subsidiary Repurchase Assets shall pass to the Trust Subsidiary on the Purchase Date on which a Purchase Price Increase relating to such
Contributed Crop Loan has been paid by Buyer to Seller. Upon transfer of the Purchased Assets to Buyer as set forth in this Section 5 and until termination of any related Transactions as set forth in Sections 4 or
15 of this Agreement, ownership of each Purchased Asset, including each document in the related Asset File and Records, is vested in the Buyer. 

g. To the extent Seller requests Buyer enter into Transactions more than [***] in a calendar week or more than [***] times in a calendar month,
Seller shall pay to Buyer a Draw Fee on each Purchase Date for each Transaction in excess of such amounts. 
 h. Upon Buyer’s approval
of any Purchase Price Increase, Buyer shall pay to Seller the amount of such Purchase Price Increase and, effective as of the date of such payment, the related Transaction Request and Confirmation shall be amended or deemed amended to reflect such
Purchase Price Increase and, simultaneously, the Purchase Price of the applicable Purchased Asset shall be deemed to have increased by the amount of such Purchase Price Increase. 

i. The Buyer shall be under no obligation to enter into Transactions after the expiration of the Availability Period. 

  
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 4. Repurchase 

a. On any Repurchase Date, the Seller shall repurchase the related Purchased Assets from Buyer and remit the Repurchase Price to Buyer. 

b. On any Release Date, the Seller shall (i) cause the Trust Subsidiary to release such Contributed Crop Loan to Seller and (B) remit
to Buyer the Release Price for the related Contributed Crop Loan. 
 c. Seller’s obligation to repurchase (or release and repay, as the
case may be) exists without regard to any prior or intervening liquidation with respect to any Purchased Asset or Contributed Crop Loan but liquidation proceeds received by Buyer shall be applied to reduce the Repurchase Price for such Purchased
Asset (or the Release Price for such Contributed Crop Loan) on each Payment Date. Seller is obligated to repurchase and take physical possession (and Buyer is obligated to sell and deliver) of the Purchased Assets and Contributed Crop Loans at
Seller’s expense on the related Repurchase Date and/or the related Release Date. 
 d. Provided that no Default or Event of Default
shall have occurred and be continuing or result therefrom, and Buyer has received (a) the related Repurchase Price upon repurchase of a Purchased Asset or (b) an amount equal to the applicable Release Price upon release of a Contributed
Crop Loan, Buyer agrees to release its ownership interests hereunder in such Purchased Asset (including, the Repurchase Assets related thereto) and/or their respective indirect beneficial ownership interests in such Contributed Crop Loan (including,
the Trust Subsidiary Repurchase Assets related thereto), as applicable, at the request of the Seller Parties and shall be deemed to have released any such interest free and clear of any Lien. 

e. No more than once per calendar week and so long as the Repurchase Price or Release Price, as applicable, is at least [***], Seller may
voluntarily repurchase any Purchased Asset or cause the release of any Contributed Crop Loan, in each case without penalty or premium (but subject to the obligation to pay a Yield Maintenance Fee when due). If Seller intends to make such a
repurchase or cause such a release, Seller shall give at least [***] prior written notice thereof to the Buyer, designating the Purchased Assets or Contributed Crop Loans to be repurchased or released and the amount of the Repurchase Price or
Release Price to be paid in connection therewith. Any notice received after [***] (New York City time) shall be deemed received on the following [***]. On the applicable Repurchase Date or Release Date, the amount specified in such notice shall be
due and payable on the date specified therein, and, on receipt, such amount shall be applied, in the case of Purchased Assets, to the Repurchase Price for the Purchased Assets designated in such notice or, in the case of Contributed Crop Loans, to
repayment of the Purchase Price Increase relating to the Contributed Crop Loans designated in such notice. 
 f. With respect to Principal
Prepayments in full or part by the related Obligor, Seller agrees to (i) provide or cause to be provided to Buyer a Servicing Report evidencing that such Contributed Crop Loan has been paid in full or part and (ii) remit the related
Release Price to Buyer by deposit into the Repo Account in accordance with Section 8(a) below. Buyer agrees to release its ownership interests in the Contributed Crop Loans which have been prepaid in full after receipt of
evidence of compliance with clauses (i) through (ii) of the immediately preceding sentence. 
 5. Payments, Transfer,
Fees and Price Differential 
 a. Payments. Unless otherwise mutually agreed in writing, all transfers of funds to be made by the
Seller Parties to Buyer hereunder shall be made in Dollars, in immediately available funds, without deduction, set-off or counterclaim, to an account directed by Buyer in writing. 

  
 24 

 b. Transfers. All Purchased Assets and Contributed Crop Loans transferred by one
party hereto to the other party shall be in the case of a purchase by Buyer in suitable form for transfer or shall be accompanied by duly executed instruments of transfer or assignments in blank and such other documentation as Buyer may reasonably
request. All Contributed Crop Loans shall be evidenced by a Trust Receipt. Any Repurchase Price or Release Price received by Buyer after [***] (New York City time) shall be deemed received on the [***]. 

c. Commitment Fee. On and earned as of the Effective Date, the Seller shall pay to Buyer a nonrefundable Commitment Fee. The payment of
the Commitment Fee shall be made in Dollars, in immediately available funds, without deduction, setoff or counterclaim, to Buyer at such account designated by Buyer. To the extent that the Maximum Aggregate Purchase Price is increased, the
Availability Period is extended and/or the Termination Date is extended, each pursuant to Section 7 hereof, Seller shall remit to Buyer an additional Commitment Fee in accordance therewith. 

d. Non-Usage Fee. On each Payment Date, Seller shall pay to Buyer a nonrefundable Non-Usage Fee for the prior calendar month. The payment of the Non-Usage Fee shall be made in Dollars, in immediately available funds, without deduction, setoff or
counterclaim, to Buyer at such account designated by Buyer. 
 e. Yield Maintenance. Seller shall pay to Buyer a nonrefundable Yield
Maintenance Fee On (i) each date the Termination Date is extended (in accordance with the calculation in clause (x) of the definition thereof) and (ii) on the date all Contributed Crop Loans are repurchased and/or released or on the
Termination Date (in accordance with the calculation in clause (y) of the definition thereof). The payment of the Yield Maintenance Fee shall be made in Dollars, in immediately available funds, without deduction, setoff or counterclaim, to
Buyer at such account designated by Buyer. 
 f. Price Differential. 

i. On the beginning of each Pricing Period that a Transaction is outstanding, the Pricing Rate shall be reset and, unless
otherwise agreed between Buyer and Seller, the accrued and unpaid Price Differential shall be settled in cash on each related Payment Date. [***] prior to the Payment Date, Buyer shall give Seller written or electronic notice of the amount of the
Price Differential due on such Payment Date. On the Payment Date, Seller shall pay to Buyer (to the extent not paid on such date through the payments required pursuant to Section 8(b) hereof) the accrued but unpaid Price
Differential for such Payment Date (along with any other amounts to be paid pursuant to Sections 8 and 29 hereof), by wire transfer in immediately available funds. 

ii. If Seller fails to pay all or part of the Price Differential by [***] (New York City time) on the related Payment Date,
with respect to any Purchased Asset, Seller shall be obligated to pay to Buyer (in addition to, and together with, the amount of such Price Differential) interest on the unpaid Repurchase Price or Release Price, as applicable, at a rate per annum
equal to the Post Default Rate calculated by Buyer from and after such Payment Date and until the Price Differential is received in full by Buyer. 

iii. If prior to any Pricing Period, Buyer determines in its sole discretion that, by reason of circumstances affecting the
relevant market, adequate and reasonable means do not exist for ascertaining LIBOR for such Pricing Period, Buyer shall give prompt notice thereof to Seller, whereupon, if Buyer is also then converting the pricing rates or interest rates of
similarly situated counterparties in similar facilities, the Pricing Rate for such Pricing Period, and for all subsequent Pricing Periods until such notice has been withdrawn by Buyer, shall be an alternative per annum rate based on an index
approximating the behavior of LIBOR, as determined by Buyer and is consistent with the pricing index of similarly situated counterparties in similar facilities. 

  
 25 

 6. Margin Maintenance 

a. If on any Asset Value Determination Date, the Asset Value of any Purchased Asset or Contributed Crop Loan is less than the Purchase Price
for such Purchased Asset or Contributed Crop Loan, as applicable (a “Margin Deficit”), then, Buyer may by notice to Seller require Seller to transfer to Buyer cash in an amount at least equal to the Margin Deficit (such requirement,
a “Margin Call”). 
 b. A Margin Call may be given by any written means. Any Margin Call received by Seller before [***]
(New York City time) on a Business Day shall be met, and the related Margin Call satisfied, no later than [***] (New York City time) on applicable Margin Deadline. A Margin Call received by Seller after [***] (New York City time) on a Business Day
or a date that is not a Business Day shall be deemed to be received on the [***]. The failure of Buyer, on any one or more occasions, to exercise its rights hereunder, shall not change or alter the terms and conditions to which this Agreement is
subject or limit the right of Buyer to do so at a later date. Seller Parties and Buyer each agree that a failure or delay by Buyer to exercise its rights hereunder shall not limit or waive Buyer’s rights under this Agreement or otherwise
existing by law or in any way create additional rights for Seller Parties. 
 c. In the event that a Margin Deficit exists with respect to
any Purchased Asset or Contributed Crop Loan, Buyer may retain any funds received by it to which the Seller Parties would otherwise be entitled hereunder (which for the avoidance of doubt shall not include amounts due, owing and payable to the
Master Servicer, Trustee, the Certificate Registrar and the Custodian pursuant to Section 8 hereof and subject to the limitations set forth therein), which funds (i) shall be held by Buyer against the related Margin
Deficit and (ii) may be applied by Buyer against the Purchase Price (or Purchase Price Increase) of any Purchased Asset for which the related Margin Deficit remains otherwise unsatisfied. Notwithstanding the foregoing, Buyer retains the right,
in its sole discretion, to make a Margin Call in accordance with the provisions of this Section 6. 
 7.
Increases and Decreases to Maximum Aggregate Purchase Price; Extension of Termination Date and Availability Period 
 a. From time to
time, upon the request of Seller, Buyer may, in its sole discretion, increase or decrease the Maximum Aggregate Purchase Price. Any such request shall be delivered by Seller to Buyer at least [***] prior to the end of any calendar quarter and if
agreed to by Buyer, shall take effect on the [***] of the next succeeding calendar quarter. In no event shall the increase to the Maximum Aggregate Purchase Price exceed [***]. To the extent the Maximum Aggregate Purchase Price is increased, Seller
shall remit to Buyer an additional Commitment Fee in an amount equal to the product of (x) the Commitment Fee Percentage and (y) the amount of such increase. The Commitment Fee is non-refundable and
to the extent the Seller requests a decrease in the Maximum Aggregate Purchase Price, no portion of the Commitment Fee shall be returned to Seller. In addition, any decrease in the Maximum Aggregate Purchase Price shall result in a repurchase of
Contributed Crop Loans to the extent that the outstanding Purchase Price is greater than the Maximum Aggregate Purchase Price as a result of such decrease. 

b. Provided that no Default or Event of Default has occurred and is continuing, the Seller may request an extension of the Termination Date and
Availability Period for an additional 364 days. Any such request shall be submitted to Buyer by Seller in writing no later than [***] prior to and no more than [***] prior to the end of the then existing Availability Period. Buyer shall use its
commercially reasonable efforts to accept or reject such request within [***] of receipt thereof and Buyer’s failure to respond promptly in writing shall be deemed to be a rejection of an extension request, at which point the

  
 26 

 
Termination Date and Availability Period shall remain fixed. Any such extension of the Termination Date and/or Availability Period may be approved in the sole discretion of the Buyer and shall be
further subject to any conditions set forth in the Agreement, any amendments to the terms hereof required by Buyer and the payment of any additional Commitment Fee. In no event shall the Termination Date or Availability Period be extended in excess
of the [***] anniversary of the Effective Date. To the extent the parties fail to agree to extend the Availability Period, the Termination Date shall be extended [***] from the then-existing Termination Date. 

8. Income Payments 
 a. If
Income is paid in respect of any Purchased Asset or Contributed Crop Loan during the term of a Transaction, such Income shall be the property of Buyer. Each Seller Party shall, and shall cause the Master Servicer and Subservicer to, deposit all
Income with respect to each Purchased Asset and Contributed Crop Loan into the Servicer Account in accordance with the applicable Servicing Agreement or Subservicer Side Letter, as applicable. Notwithstanding anything to the contrary in any
Servicing Agreement, each Seller Party shall cause the applicable Servicer or Subservicer to deposit into the Repo Account all Income (net of any fees due and owing to the Subservicer as permitted under the Subservicing Agreement and Subservicer
Side Letter) on deposit in the related Servicer Account on each Remittance Date. All Income shall be held in trust for the benefit of Buyer and shall constitute the property of the Buyer except for tax and GAAP purposes as to which it shall be
treated as income and property of the applicable Seller Party. 
 b. Provided that no Event of Default has occurred and is
continuing, on each Payment Date, the Buyer shall remit amounts on deposit in the Repo Account as follows: 
 i.
first, to the Master Servicer, as permitted under the Master Servicing Agreement and Master Servicer Side Letter, any (1) accrued and unpaid fees then (2) any accrued and unpaid expenses and indemnities due and owing up to [***] in
the aggregate in any calendar year for the expenses and indemnities (the “Master Servicer Indemnity Cap”) 

ii. second, pro rata, to the Trustee, Certificate Registrar and Custodian, as permitted under the Transaction Documents,
any (1) accrued and unpaid fees and then (2) any accrued and unpaid expenses and indemnities due and owing up to [***] in the aggregate in any calendar year for the expenses and indemnities (the “Trustee Indemnity Cap”)
provided that any such amounts not paid due to the application of the cap shall be reimbursable in subsequent years until paid in full; 

iii. third, to Buyer, in payment of any accrued and unpaid Price Differential through the end of the related Pricing
Period, to the extent not paid by Seller Parties to Buyer pursuant to Section 5(f); 
 iv.
fourth, to Buyer, in reduction of the Repurchase Price of such Purchased Asset, or the Release Price of such Contributed Crop Loan, as applicable, with respect to any liquidation, pay-off or repurchase
of any Purchased Asset or release of any Contributed Crop Loan up to the outstanding amount advanced by Buyer; 
 v.
fifth, without limiting the rights of Buyer under Section 6 hereof, to Buyer, in the amount of any unpaid Margin Deficit; 

  
 27 

 vi. sixth, to the payment of all other Obligations (calculated based
on the basis of Crop Year Contributed Loans) then due and owing to the Buyer in accordance with the following schedule:  

(1) to the extent the Repurchase Percentage for the applicable Crop Year Contributed Loans is greater than [***], in an amount
equal to [***] of the Remaining Pro Rata Collections attributable such Crop Year Contributed Loans, 
 (2) to the extent the
Repurchase Percentage for the applicable Crop Year Contributed Loans is greater than [***] but less than or equal to [***], in an amount equal to [***] of the Remaining Pro Rata Collections attributable to such Crop Year Contributed Loans, and 

(3) to the extent the Repurchase Percentage for the applicable Crop Year Contributed Loans is less than or equal to [***], in
an amount necessary to maintain a Repurchase Percentage for such Crop Year Contributed Loans equal to [***]; 
 vii.
seventh, to the extent not fully reimbursed pursuant to Section 8(b)(i) and (ii), pro rata, to the Master Servicer, Trustee, Certificate Register and Custodian such fees, expenses and indemnification amounts
actually incurred for services performed under the Master Servicing Agreement and the Transaction Documents from the current Payment Date and any remaining unpaid from all prior Payment Dates; 

viii. eighth, to, or at the direction of Seller, as administrator of Trust Subsidiary, any remaining amounts. 

c. On the Termination Date or upon the occurrence and during the continuation of an Event of Default, the Buyer shall remit
amounts on deposit in the Repo Account as follows: 
 i. first, to the Master Servicer pursuant to
Section 8(b)(i) above and subject to the Master Servicer Indemnity Cap; 
 ii. second, pro
rata to the Trustee, Certificate Registrar and Custodian pursuant to Section 8(b)(ii) above and subject to the Trustee Indemnity Cap; 

iii. third, to the payment of all Obligations then due and owing to Buyer pursuant to this Agreement; 

iv. fourth, to the extent not fully reimbursed pursuant to Section 8(c)(i)-(ii) above, pro
rata to the Master Servicer, Trustee, Certificate Registrar and Custodian such fees, expenses and indemnification amounts actually incurred for services performed and permitted under the applicable Transaction Document and in excess of the Master
Servicer Indemnity Cap and Trustee Indemnity Cap, as applicable; and 
 v. fifth, to, or at the direction of Seller,
any remaining amounts. 

  
 28 

 9. Security Interest 

a. Repurchase Assets. 

i. Seller Repurchase Assets. On each Purchase Date, Seller hereby sells, assigns, and conveys all rights and interests
of Seller in the Purchased Assets identified on the related Asset Tape to Buyer. Although the parties intend that all Transactions hereunder be sales and purchases and not loans (other than for accounting and tax purposes), in the event any such
Transactions are deemed to be loans and in any event, Seller hereby pledges to Buyer as security for the performance by Seller of the Obligations and hereby grants, assigns, and pledges to Buyer a fully perfected first priority security interest in
Seller’s right, title, and interest in the following, in all instances, whether now owned or hereafter acquired, now existing or hereafter created (collectively, the “Seller Repurchase Assets”): 

(1) Purchased Assets (including the beneficial rights evidenced thereby in any property that underlies or may be deemed to
secure the Trust Subsidiary Interests represented by the Trust Certificate); 
 (2) Contributed Crop Loans; 

(3) any Crop Insurance Policy related to any Purchased Asset or any Contributed Crop Loan, the related Assignment of Indemnity
and all other insurance policies and insurance proceeds related to any Purchased Asset or any Contributed Crop Loan (including all rights and remedies of Seller thereunder) and all payments and distributions thereunder, whether due or to become due,
including, without limitation, the rights of Seller to collect amounts and insurance proceeds thereunder; 
 (4) each
Security Agreement and Assignment of Hedging Account entered into by the Seller and an Obligor, 
 (5) the Transaction
Documents (including all covenants, warrants and guaranties, in favor of Seller, and all other rights and remedies of Seller thereunder) and all payments and distributions thereunder, whether due or to become due, including, without limitation, the
rights of Seller to enforce such agreements and exercise remedies thereunder; 
 (6) Purchased Asset Documents and Records
related to any Purchased Asset or any Contributed Crop Loan; 
 (7) Servicing Rights related to any Purchased Asset or any
Contributed Crop Loan; 
 (8) all Property related to any Purchased Asset or any Contributed Crop Loan; 

(9) Income; 

(10) the Repo Account, the Servicer Account, and any other account (including any interest of Seller in escrow accounts and
reserve accounts) related to any Purchased Asset or any Contributed Crop Loan and all amounts held therein; 
 (11) any other
contract rights, instruments, accounts, payments, rights to payment (including payments of interest or finance charges), general intangibles and other assets, in each case, related to any Purchased Asset or any Contributed Crop Loan or any other
interest in any Purchased Asset or any Contributed Crop Loan; 
 (12) any other property, right, title or interest as are
specified on a Transaction Request and Confirmation and/or Trust Receipt with respect to any Purchased Asset or any Contributed Crop Loan; and 

  
 29 

 (13) and any proceeds (including the related securitization proceeds) and
distributions with respect to any of the foregoing. 
 ii. Trust Subsidiary Repurchase Assets. In order to further
secure the Obligations hereunder, Trust Subsidiary hereby pledges to Buyer as security for the performance by Trust Subsidiary of the Obligations and hereby grants, assigns, and pledges to Buyer a fully perfected first priority security interest in
Trust Subsidiary’s right, title or interest in the following, in all instances, whether now owned or hereafter acquired, now existing or hereafter created (collectively, the “Trust Subsidiary Repurchase Assets” and together
with the Seller Repurchase Assets, the “Repurchase Assets”): 
 (1) Contributed Crop Loans; 

(2) any Crop Insurance Policy related to any Contributed Crop Loan, the related Assignment of Indemnity and all other insurance
policies and insurance proceeds related to any Contributed Crop Loan (including all rights and remedies of Trust Subsidiary thereunder) and all payments and distributions thereunder, whether due or to become due, including, without limitation, the
rights of Trust Subsidiary to collect amounts and insurance proceeds thereunder; 
 (3) each Security Agreement and
Assignment of Hedging Account entered into by the Seller and an Obligor, 
 (4) Any Transaction Documents (including all
covenants, warrants and guaranties, in favor of Trust Subsidiary, and all other rights and remedies of Trust Subsidiary thereunder) and all payments and distributions thereunder, whether due or to become due, including, without limitation, the
rights of Trust Subsidiary to enforce such agreements and exercise remedies thereunder; 
 (5) Crop Loan Documents and
Records related to any Contributed Crop Loan; 
 (6) Servicing Rights related to any Contributed Crop Loan; 

(7) all Property, including all farm products, inventory, equipment and other goods, related to any Contributed Crop Loan; 

(8) Income; 

(9) the Repo Account, the Servicer Account, and any other account (including any interest of Trust Subsidiary in escrow
accounts and reserve accounts) related to any Contributed Crop Loan; 
 (10) all accounts, general intangibles, chattel
paper, instruments, documents, money, deposit accounts, certificates of deposit, goods (together with all embedded software, accessions, additions, attachments, improvements, substitutions and replacements thereto and therefor), letter-of-credit rights, commercial tort claims, uncertificated securities, securities accounts, security entitlements, financial assets, other investment property and
supporting obligations; 
 (11) any other property, right, title or interest as are specified on a Transaction Request and
Confirmation and/or Trust Receipt with respect to any Contributed Crop Loan; 

  
 30 

 (12) all other personal property of the Trust Subsidiary not otherwise
described in the foregoing clauses (1)-(11); and 
 (13) any income, proceeds (including the related securitization
proceeds), replacements, substitutions or distributions with respect to any of the foregoing. 
 iii. The provisions of this
Section 9(a) are intended to constitute a security agreement or other arrangement or other credit enhancement related to the Agreement and transactions hereunder as defined under Sections 101(47)(A)(v) and
741(7)(A)(xi) of the Bankruptcy Code. 
 b. Additional Interests. If Seller shall, as a result of ownership of the Trust
Subsidiary Interests, become entitled to receive or shall receive any certificate evidencing any Trust Subsidiary Interests or other equity interest, any option rights, or any equity interest in the Trust Subsidiary Interests, whether in addition
to, in substitution for, as a conversion of, or in exchange for the Trust Subsidiary Interests, or otherwise in respect thereof, Seller shall accept the same as the Buyer’s agent, hold the same in trust for Buyer and deliver the Trust
Subsidiary Interests registered in the name of Buyer in accordance with the Trust Agreement, to be held by Buyer subject to the terms hereof as additional security for the Obligations. Any sums paid upon or in respect of the Trust Subsidiary
Interests upon the liquidation or dissolution of the Trust Subsidiary, or otherwise shall be paid over to Buyer as additional security for the Obligations. If following the occurrence and during the continuation of an Event of Default, any sums of
money or property so paid or distributed in respect of the Trust Subsidiary Interests shall be received by Seller, Seller shall, until such money or property is paid or delivered to Buyer, hold such money or property in trust for Buyer segregated
from other funds of Seller as additional security for the Obligations. 
 c. Cash Dividends; Additional Capital Stock; Voting
Rights. Seller shall ensure that Buyer receives all Income, including, without limitation, all cash dividends or other cash distributions paid in respect of the Trust Subsidiary Interests. Unless an Event of Default shall have occurred and be
continuing, Seller shall be permitted to exercise all voting and member rights with respect to the Trust Subsidiary Interests subject to the terms of the Trust Agreement; provided, however, that no vote shall be cast or member right exercised or
other action taken which would impair the Trust Subsidiary Interests or which would be inconsistent with or result in a violation of any provision of this Agreement. Without the prior consent of Buyer, the Seller shall not (i) vote to enable,
or take any other action to permit Trust Subsidiary to issue any Capital Stock of any nature or to issue any other Capital Stock convertible into or granting the right to purchase or exchange for any Capital Stock of the Trust Subsidiary, or
(ii) sell, assign, transfer, exchange or otherwise dispose of, or grant any option with respect to, the Trust Subsidiary Interests, or (iii) create, incur or permit to exist any Lien or option in favor of, or any claim of any Person with
respect to, the Trust Subsidiary Interests, or any interest therein, except for the Lien provided for by this Agreement, or (iv) enter into any agreement (other than as permitted hereunder) or undertaking restricting the right or ability of
Seller to sell, assign or transfer any of the Trust Subsidiary Interests. 
 d. Financing Statements. The Seller Parties agree to
execute, deliver and/or file such documents and perform such acts as may be reasonably necessary to fully perfect Buyer’s security interest created hereby and authorize Buyer to file financing statements relating to the Repurchase Assets.
Furthermore, the Seller Parties hereby authorize Buyer to file financing statements relating to the Trust Subsidiary Repurchase Assets, as Buyer, at its option, may deem appropriate, describing the collateral as “all assets of the Debtor”
or words to that effect, and any limitations on such collateral description, notwithstanding that such collateral description may be broader in scope than the Trust Subsidiary Repurchase Assets, as applicable, described in this Agreement. The Seller
Parties shall pay the filing costs for any financing statement or statements prepared pursuant to this Section. 

  
 31 

 10. Conditions Precedent 

a. Initial Transaction. As conditions precedent to the initial Transaction, Buyer shall have received on or before the day of such
initial Transaction the following, in form and substance satisfactory to Buyer and duly executed by the applicable Seller Party, Guarantor and each other party thereto, as applicable: 

(1) Transaction Documents. The Transaction Documents (other than the Verification Agent Agreement and ECCA) duly
executed and delivered by the parties thereto and being in full force and effect, free of any modification, breach or waiver unless otherwise agreed by the parties. 

(2) Security Interest. Evidence that all other actions necessary or, in the opinion of Buyer, desirable to perfect and
protect Buyer’s interest in the Purchased Assets, the Contributed Crop Loans and other Repurchase Assets have been taken, including, without limitation, duly authorized and filed Uniform Commercial Code financing statements on Form UCC-1. 
 (3) Organizational Documents. A (x) certificate of the corporate
secretary or member, as applicable, of each Seller Party and Guarantor, attaching certified copies of such party’s organizational documents and resolutions approving the Transaction Documents and transactions thereunder (either specifically or
by general resolution) and all documents evidencing other necessary company action or governmental approvals as may be required in connection with the Transaction Documents; (y) certified copy of a good standing certificate from the
jurisdiction of organization of each Seller Party and Guarantor, dated as of the Effective Date and (z) incumbency certificate of an officer of each Seller Party and Guarantor, certifying the names, true signatures and titles of the
representatives duly authorized to request transactions hereunder and to execute the Transaction Documents. 
 (4)
Opinions of Counsel. An opinion of each Seller Party’s and Guarantor’s counsel, in form and substance acceptable to Buyer in its sole discretion, including, without limitation, with respect to (i) Buyer’s lien on and
perfected security interest in the Purchased Assets, the Contributed Crop Loans and the Repurchase Assets (including, without limitation, the Repo Account); (ii) the non-contravention, enforceability and
corporate opinions with respect to the Seller Parties and Guarantor; (iii) the inapplicability of the Investment Company Act of 1940 to Seller and Guarantor; (iv) matters of Delaware law with respect to each Seller Party, Guarantor and
Trustee; (v) the Trust Subsidiary is not required to register as an “investment company,” as such term is defined in the Investment Company Act, as amended, for specified reasons other than the exemption provided by
Section 3(c)(1) or Section 3(c)(7) thereof; and (vi) a Bankruptcy Code opinion of counsel to each Seller Party and Guarantor with respect to the matters outlined in paragraphs (a), (b) and (e) of
Section 26 hereof. 
 (5) Delivery of Trust Certificates and Certificate Registrar.
(i) A true and correct original of the Trust Certificate registered in the name of Buyer in accordance with the Trust Agreement and (ii) evidence from the Certificate Registrar that Buyer is registered as the Certificateholder on the
Certificate Register. 
 (6) Underwriting Guidelines. A true and correct copy of the Underwriting Guidelines. 

  
 32 

 (7) Fees. Payment of any reasonable invoiced fees due to Buyer
hereunder, including the Commitment Fee. 
 (8) Insurance. Evidence that Seller has added Buyer as an additional loss
payee under the Seller’s or Guarantor’s Fidelity Insurance. 
 b. All Transactions. The obligation of Buyer to enter into
each Transaction pursuant to this Agreement is subject to the following conditions precedent: 
 (1) Due Diligence
Review. Without limiting the generality of Section 32 hereof, Buyer shall have completed, to its satisfaction, its due diligence review of the related Eligible Assets, each Seller Party, Guarantor and each Servicer.

 (2) Minimum Purchase Price. The requested Purchase Price and/or Purchase Price Increase is at least [***]. 

(3) Crop Insurance Policy Premiums. With respect to each Contributed Crop Loan, evidence that the Obligor has paid in
full all premiums due and payable for any Crop Insurance Policy issued with respect to any Crop Year prior to the then-current Crop Year. 

(4) Purchase Documents. Buyer or its designee shall have received at least [***] prior to such Transaction (unless
otherwise specified in this Agreement) the following, in form and substance satisfactory to Buyer and (if applicable) duly executed: 

(a) a Transaction Request and Confirmation delivered pursuant to Section 3(c) hereof; 

(b) a Trust Receipt; 

(c) a report from the Verification Agent confirming certain information and data with respect to the Contributed Crop Loans as
mutually agreeable to the parties; 
 (d) an Asset Tape; and 

(e) such certificates, opinions of counsel or other documents as Buyer may reasonably request. 

(5) Asset File. On or before each Purchase Date or Purchase Price Increase Date with respect to each Purchased Asset or
Contributed Crop Loan, as applicable, Seller Parties shall cause the Custodian to deliver to Buyer the Custodial Asset Transmission. 

(6) No Default. No Default (including, without limitation, any outstanding Margin Deficit) or Event of Default shall
have occurred and be continuing. 
 (7) Requirements of Law. Buyer shall not have determined that an introduction of
or a change in any Requirements of Law or in the interpretation or administration of any Requirements of Law applicable to Buyer has made it unlawful, and no Governmental Authority shall have asserted that it is unlawful, for Buyer to enter into
Transactions with a Pricing Rate based on LIBOR or any alternative rate chosen by Buyer pursuant to Section 5(f) hereof. 

  
 33 

 (8) Representations and Warranties. Both immediately prior to the
related Transaction and also after giving effect thereto and to the intended use of the proceeds thereof, the representations and warranties made by each Seller Party and Guarantor in each Transaction Document shall be true, correct and complete in
all material respects with the same force and effect as if made on and as of such Purchase Date or Purchase Price Increase Date, as applicable (or, if any such representation or warranty is expressly stated to have been made as of a specific date,
as of such specific date). 
 (9) Approval of Servicing Agreement. To the extent not previously delivered and
approved, Buyer shall have, in its sole discretion, approved the Servicing Agreement and entered into a side letter in connection therewith. 

(10) Material Adverse Change. None of the following shall have occurred and/or be continuing: 

(a) an event or events shall have occurred in the sole determination of Buyer resulting in the effective absence of a
“repo market” or comparable “lending market” for financing debt obligations secured by Crop Loans or securities or an event or events shall have occurred resulting in Buyer not being able to finance Purchased Assets through the
“repo market” or “lending market” with traditional counterparties at rates which would have been reasonable prior to the occurrence of such event or events; 

(b) an event or events shall have occurred resulting in Buyer not being able to sell securities backed by Crop Loans at prices
which would have been reasonable prior to such event or events; or 
 (c) there shall have occurred a material adverse
change in the financial condition of Buyer which affects (or can reasonably be expected to affect) materially and adversely the ability of Buyer to fund its obligations under this Agreement. 

(11) Fees. Payment of any fees due to Buyer hereunder, including the Commitment Fee, any
Non-Usage Fee, any Yield Maintenance Fee, any Draw Fee and any legal fees subject to Section 11 hereof. 

(12) Verification Agent Agreement. On the date that is [***] following the Effective Date, the parties shall have
entered into a Verification Agent Agreement in form and substance mutually acceptable. 
 (13) ECCA. On the date that
is [***] following the Effective Date, the parties shall have entered into an ECCA in form and substance mutually acceptable. 
 c.
Transaction Request and Confirmation. Each Transaction Request and Confirmation delivered by the Seller Parties hereunder shall constitute a certification by the Seller Parties that all the conditions set forth in
Section 10(b) hereof (other than clauses (7) and (10) thereof) have been satisfied (both as of the date of such notice or request and as of the date of such purchase). Each Transaction Request and Confirmation
(after being executed by Buyer), together with this Agreement, shall be evidence of the terms of the Transaction(s) covered thereby. 

  
 34 

 11. Program; Costs; Taxes 

a. Each Seller Party shall reimburse Buyer for any of Buyer’s reasonable out of pocket costs, including due diligence review costs and
reasonable external attorney’s fees, incurred by Buyer in determining the acceptability to Buyer of any Eligible Assets. Following the occurrence of a Servicer Termination Event, the Seller Parties shall also pay, or reimburse Buyer if Buyer
shall pay, any termination fee, which may be due any Servicer. Each Seller Party shall pay the reasonable out-of-pocket fees and expenses of Buyer’s external
counsel in connection with the preparation, negotiation and execution of the Transaction Documents in an amount not to exceed [***]. Legal fees for any subsequent amendments to this Agreement or related documents shall be borne by each Seller Party.
Each Seller Party shall pay ongoing custodial and bank fees and expenses and any other ongoing fees and expenses under any other Transaction Document. 

b. If Buyer determines in its sole discretion that, due to the introduction of, any change in, or the compliance by Buyer with (i) any
eurocurrency reserve requirement or (ii) the interpretation of any law, regulation or any guideline or request from any central bank or other Governmental Authority (whether or not having the force of law), (A) there shall be an increase in the
cost to Buyer in engaging in the present or any future Transactions, or (B) Buyer shall be subject to any Taxes (other than (1) Indemnified Taxes, (2) Taxes described in clauses (b) through (d) of the definition of Excluded Taxes
and (3) Connection Income Taxes) on its loans, loan principal, letters of credit, commitments, or other obligations, or its deposits, reserves, other liabilities or capital attributable thereto, then each Seller Party agrees to pay to Buyer,
from time to time, within [***] following a written demand by Buyer (with a copy to Custodian) the actual cost of additional amounts as specified by Buyer to compensate Buyer for such increased costs; provided, that no Seller Party shall be
obligated to pay such costs incurred for more than [***] prior to its receipt of a written demand therefor. The determination by Buyer of the existence and amount of any such cost shall, in the absence of manifest error, be conclusive. 

c. With respect to any Transaction, Buyer may conclusively rely upon, and shall incur no liability to any Seller Party in acting upon, any
request or other communication that Buyer reasonably believes to have been given or made by a person authorized to enter into a Transaction on a Seller Party’s behalf, whether or not such person is listed on the incumbency certificate delivered
pursuant to Section 10(a)(3) hereof. In each such case, each Seller Party hereby waives the right to dispute Buyer’s record of the terms of the Transaction Request and Confirmation. 

d. Notwithstanding the assignment of the Transaction Documents with respect to each Purchased Asset to Buyer, each Seller Party agrees and
covenants with Buyer to enforce diligently each Seller Party’s rights and remedies set forth in the Transaction Documents. 
 e.
Taxes. 
 (1) Defined Terms. For purposes of this Section 11(e), the term
“applicable law” includes FATCA. 
 (2) Payments Free of Taxes. Any and all payments by or on account of any
obligation of each Seller Party under the Transaction Documents shall be made without deduction or withholding for any Taxes, except as required by applicable law. If any applicable law (as determined in the good faith discretion of an applicable
Withholding Agent) requires the deduction or withholding of any Tax from any such payment by a Withholding Agent, then the applicable Withholding Agent shall be entitled to make such deduction or withholding and shall timely pay the full amount
deducted or withheld to the relevant Governmental Authority in accordance with applicable law and, if such Tax is an Indemnified Tax, then the sum payable by any Seller Party shall be increased as necessary so that after such deduction or
withholding has been made (including such deductions and withholdings applicable to additional sums payable under this Section 11(e)) Buyer receives an amount equal to the sum it would have received had no such deduction or
withholding been made. 

  
 35 

 (3) Payment of Other Taxes. Each Seller Party shall timely pay to the
relevant Governmental Authority in accordance with applicable law any Other Taxes. 
 (4) Indemnification. Each Seller
Party shall indemnify Buyer within [***] after demand therefor, for the full amount of any Indemnified Taxes (including Indemnified Taxes imposed or asserted on or attributable to amounts payable under this Section 11(e))
payable or paid by Buyer or required to be withheld or deducted from a payment to Buyer and any reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes were correctly or legally imposed or asserted by the
relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to any Seller Party by Buyer shall be conclusive absent manifest error. 

(5) Evidence of Payments. As soon as practicable after any payment of Taxes by any Seller Party to a Governmental
Authority pursuant to this Section 11(e), such Seller Party shall deliver or cause Guarantor to deliver, as applicable, to Buyer 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 Buyer. 

(6) Status of Buyer. (i) If Buyer or Buyer’s assignee is entitled to an exemption from or reduction of
withholding Tax with respect to payments made under any Transaction Document, Buyer shall deliver to the Seller Parties, at the time or times reasonably requested by such Seller Party, such properly completed and executed documentation reasonably
requested by such Seller Party as will permit such payments to be made without withholding or at a reduced rate of withholding. In addition, if reasonably requested by any Seller Party, Buyer or Buyer’s assignee shall deliver such other
documentation prescribed by applicable law or reasonably requested by such Seller Party as will enable such Seller Party to determine whether or not Buyer or Buyer’s assignee is subject to backup withholding or information reporting
requirements. Notwithstanding anything to the contrary in the preceding two sentences, the completion, execution and submission of such documentation (other than such documentation set forth in Sections 11(e)(7)(ii)(a) – (b) and
(d) below) shall not be required if in Buyer’s or Buyer’s assignee’s reasonable judgment such completion, execution or submission would subject Buyer or Buyer’s assignee to any material unreimbursed cost or expense or
would materially prejudice the legal or commercial position of Buyer or Buyer’s assignee. 
 (7) Without limiting the
generality of the foregoing, 
 (a) If Buyer or Buyer’s assignee is a U.S. Person, Buyer or Buyer’s assignee shall
deliver to each Seller Party on or prior to the date on which Buyer or Buyer’s assignee becomes a party under this Agreement (and from time to time thereafter upon the reasonable request of such Seller Party), executed originals of IRS Form W-9 certifying that Buyer or Buyer’s assignee is exempt from U.S. federal backup withholding tax; 

(b) Any Foreign Buyer shall, to the extent it is legally entitled to do so, deliver to each Seller Party (in such number of
copies as shall be requested by the recipient) on or prior to the date on which such Foreign Buyer becomes a party under this Agreement (and from time to time thereafter upon the reasonable request of such Seller Party), whichever of the following
is applicable: 

  
 36 

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

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

(iii) in the case of a Foreign Buyer claiming the benefits of the exemption for portfolio interest under Section 881(c)
of the Code, (x) a certificate substantially in the form of Exhibit D-1 to the effect that such Foreign Buyer is not a “bank” within the meaning of Section 881(c)(3)(A) of the Code,
a “10 percent shareholder” of each Seller Party within the meaning of Section 881(c)(3)(B) of the Code, or a “controlled foreign corporation” described in Section 881(c)(3)(C) of the Code (a “U.S. Tax
Compliance Certificate”) and (y) executed originals of IRS Form W-8BEN or IRS Form W-8BEN-E (as applicable); or

 (iv) to the extent a Foreign Buyer is not the beneficial owner, executed originals of IRS Form W-8IMY, accompanied by IRS Form W-8ECI, IRS Form W-8BEN, IRS Form
W-8BEN-E, a U.S. Tax Compliance Certificate substantially in the form of Exhibit D-2, IRS Form W-9, and/or other certification documents from each beneficial owner, as applicable; provided that if the Foreign Buyer is a partnership and one (1) or more direct or indirect partners of such
Foreign Buyer are claiming the portfolio interest exemption, such Foreign Buyer may provide a U.S. Tax Compliance Certificate substantially in the form of Exhibit D-2 on behalf of each such direct and
indirect partner; 
 (c) Any Foreign Buyer shall, to the extent it is legally entitled to do so, deliver to each Seller Party
(in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Buyer becomes a party under this Agreement (and from time to time thereafter upon the reasonable request of each Seller Party), executed
originals of any other form prescribed by applicable law as a basis for claiming exemption from or a reduction in U.S. federal withholding Tax, duly completed, together with such supplementary documentation as may be prescribed by applicable law to
permit each Seller Party to determine the withholding or deduction required to be made; and 
 (d) If a payment made to Buyer
or Buyer’s assignee under any Transaction Document would be subject to U.S. federal withholding Tax imposed by FATCA if Buyer or Buyer’s assignee were to fail to comply with the applicable reporting requirements of FATCA (including those
contained in Section 1471(b) or 1472(b) of the Code, as applicable), Buyer on behalf of Buyer or Buyer’s assignee shall deliver to such Seller Party at the time or times prescribed by law and at such time or times reasonably requested by
such Seller Party such documentation prescribed by applicable law (including as prescribed by Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably requested by such Seller Party as may be necessary for such Seller
Party to comply with their obligations under FATCA and to determine that Buyer or Buyer’s assignee has complied with Buyer or Buyer’s assignee’s obligations under FATCA or to determine the amount to deduct and withhold from such
payment. Solely for purposes of this clause (D), “FATCA” shall include any amendments made to FATCA after the date of this Agreement. 

  
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 Buyer and each Buyer assignee agrees that if any form or certification it
previously delivered expires or becomes obsolete or inaccurate in any respect, it shall update such form or certification or promptly notify the Seller Parties in writing of its legal inability to do so. 

(8) Treatment of Certain Refunds. If any party determines, in its sole discretion exercised in good faith, that it has
received a refund of any Taxes as to which it has been indemnified pursuant to this Section 11(e) (including by the payment of additional amounts pursuant to this Section 11(e)), it shall pay to
the indemnifying party an amount equal to such refund (but only to the extent of indemnity payments made under this Section 11(e) with respect to the Taxes giving rise to such refund), net of all out-of-pocket expenses (including Taxes) of such indemnified party and without interest (other than any interest paid by the relevant Governmental Authority with respect to
such refund). Such indemnifying party, upon the request of such indemnified party, shall repay to such indemnified party the amount paid over pursuant to this paragraph (8) (plus any penalties, interest or other charges imposed by the relevant
Governmental Authority) in the event that such indemnified party is required to repay such refund to such Governmental Authority. Notwithstanding anything to the contrary in this paragraph (8), in no event will the indemnified party be required to
pay any amount to an indemnifying party pursuant to this paragraph (8) the payment of which would place the indemnified party in a less favorable net after-Tax position than the indemnified party would
have been in if the Tax subject to indemnification and giving rise to such refund had not been deducted, withheld or otherwise imposed and the indemnification payments or additional amounts with respect to such Tax had never been paid. This
paragraph shall not be construed to require any indemnified party to make available its Tax returns (or any other information relating to its Taxes that it deems confidential) to the indemnifying party or any other Person. 

f. Each party’s obligations under this Section 11(f) shall survive any assignment of rights by, or the
replacement of, Buyer or Buyer’s assignee, the termination of the Transactions and the repayment, satisfaction or discharge of all obligations under any Transaction Document. 

g. Each party to this Agreement acknowledges that it is its intent for purposes of U.S. federal and relevant state and local income and
franchise taxes to treat each Transaction as indebtedness of the relevant Seller Party that is secured by the Purchased Assets, and the Purchased Assets as owned by such Seller Party in the absence of an Event of Default that has occurred and is
continuing by any Seller Party. Buyer and each such Seller Party agree that they will treat and report for all tax purposes the Transactions entered into hereunder as one or more loans from Buyer to the relevant Seller Party secured by the Purchased
Assets, unless otherwise prohibited by law or upon a final determination by any taxing authority that the Transactions are not loans for tax purposes. 

12. Servicing 
 a. The
Seller Parties, on Buyer’s behalf, shall contract with each of Master Servicer and Subservicer to service the Contributed Crop Loans pursuant to the applicable Servicing Agreement and in accordance with the Accepted Servicing Practices.
Pursuant to the terms of the Servicing Agreements, the Seller and Subservicer established the Servicer Accounts in the name of Seller, in its capacity as Master Servicer, for the benefit of Buyer. The Servicer Account shall be subject to the terms
of the Servicer Account Control Agreement. 

  
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 b. Upon the occurrence and continuation of (i) an Event of Default hereunder or
(ii) a Servicer Termination Event, Buyer shall have the right to immediately terminate the applicable Servicer’s right to service the Contributed Crop Loans without payment of any penalty or termination fee. Each Seller Party shall
cooperate and shall require that the Servicers cooperate in transferring the servicing of the Contributed Crop Loans to a successor servicer appointed by Buyer in its sole discretion. Upon the occurrence and continuation of an Event of Default or a
Servicer Termination Event in connection with the Master Servicer, the Subservicer shall automatically be appointed as Master Servicer in accordance with the terms of the Subservicer Side Letter and all rights, duties and obligations of Master
Servicer hereunder and under any other Transaction Document shall thereafter be the rights, duties and obligations of the Subservicer, in its capacity as a successor master servicer. 

c. If any Seller Party should discover that, for any reason whatsoever, Servicer or any other entity responsible for managing or servicing any
Contributed Crop Loans has failed to perform in all material respects any of the obligations of such entities with respect to Contributed Crop Loans, or that an event of default under the applicable Servicing Agreement has occurred, such Seller
Party shall promptly notify Buyer. 
 d. In the event that any Purchased Asset or a Contributed Crop Loan is serviced by a Third Party
Servicer, the Seller Parties shall provide promptly to Buyer a side letter addressed to and agreed to by such Third Party Servicer of the related Purchased Assets or Contributed Crop Loans, as applicable, advising such Third Party Servicer of such
matters as Buyer may reasonably request, including, without limitation, recognition by the applicable master servicer of Buyer’s interest in such Contributed Crop Loans and the Third Party Servicer’s agreement that upon receipt of notice
of an Event of Default under this Agreement from Buyer, it will follow the instructions of Buyer with respect to the Contributed Crop Loans and any related Income with respect thereto. 

e. No Seller Party shall employ a Third Party Servicer without the prior written approval of Buyer, which approval shall not be unreasonably
withheld, delayed or conditioned. If the Contributed Crop Loans are serviced, in whole or in part, by a subservicer (i) the applicable Servicer shall nevertheless remain primarily liable to Buyer for the servicing of the Contributed Crop Loans
under the applicable Servicing Agreement; and (ii) any agreement with a subservicer shall entitle Buyer to terminate such subservicer without fee or penalty in the event that the applicable Servicer is replaced subject to the terms of the
applicable subservicing agreement. 
 f. Each Seller Party shall cause the Master Servicer to provide to Buyer, electronically, in a format
mutually acceptable to Buyer and each Seller Party, by no later than the Servicer Reporting Date, the Servicing Report. 
 13.
Representations and Warranties 
 a. Each Seller Party represents and warrants to Buyer that at all times, during the term of this
Agreement: 
 (1) Seller Existence. Seller has been duly organized and is validly existing as a limited liability
company in good standing under the laws of the State of Delaware. 
 (2) Trust Subsidiary Existence. Trust Subsidiary
has been duly organized and is validly existing as a statutory trust in good standing under the laws of the State of Delaware. 

  
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 (3) Licenses. Each Seller Party is duly licensed or is otherwise
qualified in each jurisdiction in which it transacts business for the business which it conducts and is not in default of any federal, state or local laws, rules and regulations unless, in any instance, the failure to take such action or to so
comply or such default could not be reasonably likely (either individually or in the aggregate) to cause a Material Adverse Effect. Each Seller Party has the requisite power and authority and legal right to purchase Eligible Assets (as applicable)
and to own, sell and grant a lien on all of its right, title and interest in and to the Eligible Assets, and to execute and deliver, engage in the transactions contemplated by, and perform and observe the terms and conditions of, this Agreement,
each Transaction Document and any Transaction Request and Confirmation. 
 (4) Power. Each Seller Party has all
requisite corporate or other power, and has all governmental licenses, authorizations, consents and approvals necessary to own its assets and carry on its business as now being or as proposed to be conducted, except where the lack of such licenses,
authorizations, consents and approvals would not be reasonably likely to have a Material Adverse Effect. 
 (5) Due
Authorization. Each Seller Party has all necessary corporate or other power, authority and legal right to execute, deliver and perform its obligations under each of the Transaction Documents, as applicable. This Agreement, any Transaction
Request and Confirmation and the Transaction Documents have been (or, in the case of Transaction Documents and any Transaction Request and Confirmation not yet executed, will be) duly authorized, executed and delivered by such Seller Party,
all requisite or other corporate action having been taken, and each is valid, binding and enforceable against each Seller Party in accordance with its terms except as such enforcement may be affected by bankruptcy, by other insolvency laws, or
by general principles of equity. 
 (6) [reserved] 

(7) Event of Default. There exists no Event of Default under Section 15(b) hereof, which
default gives rise to a right to accelerate indebtedness as referenced in Section 15(b) hereof that has not been waived in writing. 

(8) Solvency. Each Seller Party is solvent and will not be rendered insolvent by any Transaction and, after giving
effect to such Transaction, will not be left with an unreasonably small amount of capital with which to engage in its business. No Seller Party intends to incur, nor believes that it has incurred, debts beyond its ability to pay such debts as they
mature and is not contemplating the commencement of insolvency, bankruptcy, liquidation or consolidation proceedings or the appointment of a receiver, liquidator, conservator, trustee or similar official in respect of such entity or any of its
assets. The amount of consideration being received by each Seller Party upon the sale of the Purchased Assets (and the transfer of the related Contributed Crop Loans to Trust Subsidiary which results in a Purchase Price Increase), to Buyer
constitutes reasonably equivalent value and fair consideration for such Purchased Assets. No Seller Party is transferring any Purchased Asset or Contributed Crop Loan with any intent to hinder, delay or defraud any of its creditors. 

(9) No Conflicts. The execution, delivery and performance by each Seller Party of this Agreement, any Transaction
Request and Confirmation hereunder and the Transaction Documents do not conflict with any term or provision of the organizational documents of such Seller Party or any law, rule, regulation, order, judgment, writ, injunction or decree applicable to
such Seller Party of any court, regulatory body, administrative agency or governmental body having jurisdiction over such Seller Party, which conflict would have a Material Adverse Effect and will not result in any violation of any such mortgage,
instrument, agreement or obligation to which such Seller Party is a party. 

  
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 (10) True and Complete Disclosure. All information, reports,
exhibits, schedules, financial statements or certificates of each Seller Party or any Affiliate thereof or any of their officers furnished or to be furnished to Buyer in connection with the initial or any ongoing due diligence of such Seller Party
or any Affiliate or officer thereof, or the negotiation, preparation, or delivery of the Transaction Documents are correct in all material respects and do not omit to disclose any material facts necessary to make the statements herein or therein, in
light of the circumstances in which they are made, not misleading. All financial statements have been prepared in accordance with GAAP. 

(11) Approvals. Except to the extent previously obtained, no consent, approval, authorization or order of, registration
or filing with, or notice to any Governmental Authority or court is required under applicable law in connection with the execution, delivery and performance by each Seller Party of this Agreement, any Transaction Request and Confirmation and the
Transaction Documents. 
 (12) Litigation. There is no action, proceeding or investigation pending with respect to
which any Seller Party has received service of process or, to the best of each Seller Party’s knowledge threatened in writing against it before any court, administrative agency or other tribunal (A) asserting the invalidity of this
Agreement, any Transaction, Transaction Request and Confirmation or any Transaction Document, (B) seeking to prevent the consummation of any of the transactions contemplated by this Agreement, any Transaction Request and Confirmation or any
Transaction Document, (C) makes a claim individually in an amount greater than [***] or in an aggregate amount greater than [***], (D) which requires filing with the Securities and Exchange Commission in accordance with the 1934 Act or any
rules thereunder or (E) which could reasonably be likely to materially and adversely affect the validity of the Crop Loans when taken as a whole or the performance by it of its obligations under, or the validity or enforceability of, this
Agreement, any Transaction Request and Confirmation or any Transaction Document. 
 (13) Material Adverse Change.
There has been no change to a Seller Party having a Material Adverse Effect. 
 (14) Ownership. Upon payment of the
Purchase Price (or related Purchase Price Increase, as applicable) and delivery of the Asset Files to the Custodian and the Custodian’s receipt of the related Asset Tape, Buyer shall be the sole owner of the related Purchased Assets (including
the related Trust Subsidiary Interests) free and clear of any adverse claim (except for Permitted Liens), subject to the terms and conditions of the Transaction Documents. 

(15) Taxes. Each Seller Party is a U.S. Person. Each Seller Party has timely filed all required income and other
material tax returns required to be filed by it, and has timely paid all income and other material Taxes required to be paid by it (whether or not such Taxes are shown as due on such returns), other than Taxes that are being contested in good faith
by appropriate proceedings and for which adequate reserves have been made in accordance with GAAP. There are no Liens for Taxes on any of any Seller Party’s assets or income, other than statutory Liens for Taxes not yet due and payable and with
respect to which adequate reserves have been made in accordance with GAAP. 

  
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 (16) Investment Company. No Seller Party is an “investment
company”, or a company “controlled” by an “investment company,” within the meaning of the Investment Company Act of 1940, as amended, and it is not necessary to register the Trust Subsidiary under the Investment Company Act
of 1940, for specified reasons other than the exemption provided by Section 3(c)(1) or Section 3(c)(7) of the Investment Company Act of 1940. 

(17) Chief Executive Office; Jurisdiction of Organization. On the Effective Date, each Seller Party’s chief
executive office, is, and has been, located at 6230 Fairview Rd., Suite 300, Charlotte, North Carolina 28210. On the Effective Date, each Seller Party’s jurisdiction of organization is Delaware. Each Seller Party shall provide Buyer with [***]
advance notice of any change in such Seller Party’s principal office or place of business or jurisdiction. No Seller Party has a trade name. During the preceding [***], no Seller Party has been known by or done business under any other name,
corporate or fictitious, and has not filed or had filed against it any bankruptcy receivership or similar petitions nor has it made any assignments for the benefit of creditors. 

(18) Location of Books and Records. The location where each Seller Party keeps their respective books and records,
including all computer tapes and records relating to the Purchased Assets, the related Contributed Crop Loans and the related Repurchase Assets is its chief executive office or data warehouse. 

(19) ERISA. Each Plan to which any Seller Party or their respective Subsidiaries make direct contributions, and, to the
knowledge of such Seller Party, each other Plan and each Multiemployer Plan, is in compliance in all material respects with, and has been administered in all material respects in compliance with, the applicable provisions of ERISA, the Code and any
other federal or state law. 
 (20) Agreements. No Seller Party is in default in the performance, observance or
fulfillment of any of the obligations, covenants or conditions contained in any agreement, instrument, or indenture which default could reasonably be expected to have a Material Adverse Effect on the business, operations, properties, or financial
condition of Seller. No Seller Party has received notice of any asserted default from a holder of any Indebtedness of any Seller Party or of any of their respective Subsidiaries. 

(21) Other Indebtedness. Seller shall not incur any Indebtedness (other than (i) Indebtedness evidenced by this
Agreement and (ii) usual and customary accounts payable for a financing company in the crop loan industry) without the prior written consent of Buyer. 

(22) No Reliance. Each Seller Party has made its own independent decisions to enter into the Transaction Documents and
each Transaction and as to whether such Transaction is appropriate and proper for it based upon its own judgment and upon advice from such advisors (including without limitation, legal counsel and accountants) as it has deemed necessary. Seller is
not relying upon any advice from Buyer as to any aspect of the Transactions, including without limitation, the legal, accounting or tax treatment of such Transactions. 

(23) Plan Assets. No Seller Party is an employee benefit plan as defined in Section 3 of Title I of ERISA, or
a plan described in Section 4975(e)(1) of the Code, the Purchased Assets are not “plan assets” within the meaning of 29 CFR §2510.3-101 as amended by Section 3(42) of ERISA in such
Seller Party’s hands, and transactions by or with Seller are not subject to any state or local statute regulating investments, or fiduciary obligations with respect to governmental plans within the meaning of Section 3(32) of ERISA. 

  
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 (24) No Prohibited Persons. No Seller Party nor any of their
respective Affiliates, officers, directors, partners or members, is an entity or person (or to such Seller Party’s knowledge, [***] or greater owned by an entity or person): (i) whose name appears on the United States Treasury
Department’s Office of Foreign Assets Control (“OFAC”) most current list of “Specifically Designated National and Blocked Persons” (which list may be published from time to time in various mediums including, but not
limited to, the OFAC website, https://www.treasury.gov/ofac/downloads/sdnlist.pdf); (ii) is otherwise the target of sanctions administered by OFAC (any and all parties or persons described in clauses (i) and (ii) above are herein referred
to as a “Prohibited Person”); or (iii) who is otherwise affiliated with any entity or person listed. No Seller Party nor any of their Affiliates, officers, directors, partners or members or, to the knowledge of any such entity
or any of its officers, directors, partners or members is subject to any Sanctions, and no Seller Party nor any of their Affiliates will directly or indirectly use the proceeds of any Transactions contemplated hereunder, or lend, contribute or
otherwise make available such proceeds to or for the benefit of any person or entity for the purpose of financing or supporting the activities of any person or entity subject to any such Sanctions. Seller has instituted and maintains policies and
procedures reasonably designed to ensure compliance with applicable Sanctions. 
 (25) No Broker. No Seller Party has
dealt with any broker, investment banker, agent, or other person, except for Buyer, who may be entitled to any commission or compensation in connection with the sale of Purchased Assets pursuant to this Agreement. 

(26) No Adverse Selection. No Seller Party has selected the Contributed Crop Loans in a manner so as to adversely affect
Buyer’s interests. No Seller Party has selected the Contributed Crop Loans to be repurchased required pursuant to Section 7(a) in a manner as to adversely affect Buyer’s interests. 

(27) Margin Regulations. The use of all funds acquired by Seller Parties under this Agreement will not conflict with or
contravene any of Regulations T, U or X promulgated by the Board of Governors of the Federal Reserve System as the same may from time to time be amended, supplemented or otherwise modified. 

(28) AntiMoney Laundering Laws and Anti-Corruption Laws. Each Seller Party has complied with AntiMoney Laundering Laws,
including without limitation the USA PATRIOT Act of 2001; each Seller Party has established and maintains an antimoney laundering compliance program as required by the AntiMoney Laundering Laws. Each Seller Party and each Affiliate of each Seller
Party and, to each Seller Party’s knowledge, each director, officer and employee of any of the foregoing are in compliance with all Anti-Money Laundering Laws and Anti-Corruption Laws. 

b. With respect to every Purchased Asset and Contributed Crop Loan, each Seller Party represents and warrants to Buyer as of the applicable
Purchase Date and Purchase Price Increase Date for any Transaction and each date thereafter that each representation and warranty set forth on Schedule 1 hereto is true and correct. 

c. The representations and warranties set forth in this Agreement shall survive transfer of the Purchased Assets and/or the related Contributed
Crop Loans to Buyer and shall continue for so long as the Purchased Assets and/or the related Contributed Crop Loans are subject to this Agreement. Upon discovery by any Seller Party or Buyer of any breach of any of the representations or warranties
set forth in this Agreement, the party discovering such breach shall promptly give notice of such discovery to the others. 

  
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 14. Covenants 

Each Seller Party covenants with Buyer that at all times, during the term of this Agreement: 

a. Litigation. Each Seller Party will promptly, and in any event within [***] after service of process on any of the following, give to
Buyer notice of all litigation, actions, suits, arbitrations, investigations (including, without limitation, any of the foregoing which are threatened or pending) or other legal or arbitrable proceedings affecting such Seller Party or any of its
Subsidiaries or affecting any of the Property of any of them before any Governmental Authority that (i) questions or challenges the validity or enforceability of any of the Transaction Documents or any action to be taken in connection with the
transactions contemplated hereby or, (ii) makes a claim individually in an amount greater than [***] or in an aggregate amount greater than [***], or (iii) which, individually or in the aggregate, if adversely determined, could be
reasonably expected to have a Material Adverse Effect. Each Seller Party will promptly provide notice of any judgment, which with the passage of time, would be reasonably expected to cause an Event of Default hereunder. 

b. Prohibition of Fundamental Changes. No Seller Party shall enter into any transaction of merger or consolidation or amalgamation, or
liquidate, wind up or dissolve itself (or suffer any liquidation, winding up or dissolution) or sell all or substantially all of its respective assets (excluding any such action taken in connection with any securitization transaction). 

c. Servicer. Upon the occurrence of any of the following (a) the occurrence and continuation of an Event of Default, (b) each
Repurchase Date or Release Date, or (c) upon the request of Buyer, each Seller Party shall cause Servicer to provide to Buyer, electronically, in a format mutually acceptable to Buyer and each Seller Party, by no later than the Servicer
Reporting Date, the Servicing Report. No Seller Party shall cause the Purchased Assets and/or the related Contributed Crop Loans to be serviced by any servicer other than a servicer expressly approved in writing by Buyer, which approval shall be
deemed granted by Buyer with respect to such Seller Party with the execution of this Agreement. 
 d. Beneficial Ownership
Certification. Each Seller Party shall at all times either (i) ensure that the Seller Parties have delivered to Buyer a Beneficial Ownership Certification, if applicable, and that the information contained therein is true and correct in all
respects or (ii) deliver to Buyer an updated Beneficial Ownership Certification within [***] following the date on which the information contained in any previously delivered Beneficial Ownership Certification ceases to be true and correct in
all respects. 
 e. No Adverse Claims. Each Seller Party warrants and will defend, and shall cause any Servicer to defend, the right,
title and interest of Buyer in and to all Purchased Assets and the related Repurchase Assets against all adverse claims and demands. 
 f.
Assignment. Except as permitted herein, no Seller Party shall sell, assign, transfer or otherwise dispose of, or grant any option with respect to, or pledge, hypothecate or grant a security interest in or lien on or otherwise encumber (except
pursuant to the Transaction Documents), any of the Purchased Assets and/or the related Contributed Crop Loans or any interest therein, provided that this Section 14 shall not prevent any transfer of Purchased
Assets in accordance with the Transaction Documents. 
 g. Security Interest. Each Seller Party shall do all things necessary to
maintain the Purchased Assets, the Contributed Crop Loans and the related Repurchase Assets subject to a first priority perfected security interest hereunder. Without limiting the foregoing, each Seller Party will comply with all material rules,
regulations and other laws of any Governmental Authority and cause the Purchased Assets, the Contributed Crop Loans and the related Repurchase Assets to comply with all applicable material rules, regulations and other laws, to the extent non-compliance would result in the failure to comply with the immediately preceding sentence. 

  
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 h. Records. 

(1) Each Seller Party shall collect and maintain or cause to be collected and maintained all Records relating to the Purchased
Assets and the Contributed Crop Loans in accordance with industry custom and practice for assets similar to the Purchased Assets and the Contributed Crop Loans, including those maintained pursuant to the succeeding subparagraph. No Seller Party will
allow any such Crop Loan Documents that are an original or an only copy to leave Custodian’s possession, except for individual items removed in connection with servicing a specific Contributed Crop Loan, in which event such Seller Party will
obtain or cause to be obtained a receipt from a financially responsible person for any such paper, record or file. Seller Parties or the Servicer of the Purchased Assets and the Contributed Crop Loans will maintain or cause to be maintained all such
Records not in the possession of Custodian in good and complete condition in accordance with industry custom and practice for assets similar to the Purchased Assets and the Contributed Crop Loans. 

(2) Each Seller Party shall notify, or cause to be notified, every other party holding any such Records of the interests and
liens in favor of Buyer granted hereby. 
 i. Books. Each Seller Party shall keep or cause to be kept in reasonable detail books and
records of account of its assets and business and shall clearly reflect therein the transfer of Purchased Assets to Buyer. 
 j.
Approvals. Each Seller Party shall maintain all licenses, permits or other approvals necessary for such Seller Party to conduct its business and to perform its obligations under the Transaction Documents (unless the failure to do so would not
be reasonably likely to result in a Material Adverse Effect). 
 k. Material Change in Business. No Seller Party shall make any
material change in the nature of its business as carried on at the date hereof. 
 l. Distributions. No Seller Party shall make any
Dividend Payment during the occurrence and continuance of an Event of Default or if an Event of Default would result therefrom. 
 m.
Applicable Law. Each Seller Party shall comply with the material requirements of all applicable laws, rules, regulations and orders of any Governmental Authority. 

n. Existence. Each Seller Party shall preserve and maintain its legal existence and all of its material rights, privileges, and material
federal, state and local licenses and franchises. 
 o. Jurisdiction of Organization. No Seller Party shall change its jurisdiction of
organization from the jurisdiction referred to in Section 13(a)(17) hereof or change its name, organizational identification number, identity or corporation structure unless it shall have provided Buyer [***] prior written
notice of such change. 

  
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 p. Taxes. Each Seller Party will remain a U.S. Person. Each Seller Party will timely
file all income and other material tax returns required to be filed by it, and will timely pay all income and other material Taxes required to be paid by it (whether or not such Taxes are shown as due on such returns), other than Taxes that are
being contested in good faith by appropriate proceedings and for which adequate reserves are made in accordance with GAAP. No Seller Party will suffer the creation of any Liens for Taxes on any of its assets or income, other than statutory Liens for
Taxes not yet due and payable and with respect to which adequate reserves are made in accordance with GAAP. 
 q. Transactions with
Affiliates. No Seller Party will enter into any transaction for the sale, servicing, purchase or transfer of assets (which for the avoidance of doubt shall not include equity distributions to or investments in Affiliates) with any Affiliate
unless (i) such Seller Party provides Buyer with at least [***] prior written notice and (ii) such transaction is (x) otherwise permitted under the Transaction Documents, (y) in the ordinary course of such Seller Party’s
business or (z) upon fair and reasonable terms no less favorable to such Seller Party than it would obtain in a comparable arm’s length transaction with a Person which is not an Affiliate. 

r. Guarantees. No Seller Party shall create, incur, assume or suffer to exist any Guarantees. 

s. Indebtedness. Seller shall not incur any additional Indebtedness (other than usual and customary accounts payable for a financing
company in the crop loan industry) (i) without prior notice to Buyer and (ii) to the extent it would cause Seller to violate the financial covenants set forth in Section 14(y) hereof. 

t. True and Correct Information. All information, reports, exhibits, schedules, financial statements or certificates provided by or on
behalf of any Seller Party or any Affiliate thereof or any of their officers furnished to Buyer hereunder and during Buyer’s diligence of any Seller Party is and will be true and correct in all material respects and do not omit to disclose any
material facts necessary to make the statements herein or therein, in light of the circumstances in which they are made, not misleading in all material respects when they are made. All required financial statements, information and reports delivered
by any Seller Party to Buyer pursuant to this Agreement shall be prepared in accordance with U.S. GAAP, or, if applicable, to SEC filings, the appropriate SEC accounting regulations. 

u. Plan Assets. No Seller Party shall be an employee benefit plan as defined in Section 3 of Title I of ERISA, or a plan
described in Section 4975(e)(1) of the Code and each Seller Party shall not use “plan assets” within the meaning of 29 CFR §2510.3-101 as amended by Section 3(42) of ERISA to engage in
this Agreement or any Transaction hereunder, and transactions by or with each Seller Party shall be subject to any state or local statute regulating investments of, or fiduciary obligations with respect to governmental plans within the meaning of
Section 3(32) of ERISA. 
 v. Separateness Covenant. Except as contemplated and permitted by the Transaction Documents, the Trust
Subsidiary shall (a) own no assets, and will not engage in any business, other than the assets and transactions consistent with those specifically contemplated by the Transaction Documents and any distribution agreements delivered by Trust
Subsidiary to Seller; (b) not incur any Indebtedness or obligation, secured or unsecured, direct or indirect, absolute or contingent (including guaranteeing any obligation), other than pursuant hereto; (c) not make any loans or advances to
any third party other than in connection with the acquisition or holding of any Purchased Assets or the other Eligible Assets acquired after the date hereof, and shall not acquire obligations or securities of its affiliates; (d) pay its debts
and liabilities (including, as applicable, shared personnel and overhead expenses) only from its own assets (with no obligation to make capital contributions); (e) comply with the provisions of its organizational documents; (f) do all
things necessary to observe organizational formalities and to preserve its existence, and will not amend, modify or otherwise change its organizational documents, or suffer same to be amended, modified or otherwise changed, without the prior written
consent of Buyer; (g) maintain all of its books, records, financial statements and bank accounts separate from those of its Affiliates (except that 

  
 46 

 
such financial statements may be consolidated to the extent consolidation is required under GAAP or as a matter of law); (h) be, and at all times will hold itself out to the public as, a legal
entity separate and distinct from any other entity (including any Affiliate), shall correct any known misunderstanding regarding its status as a separate entity, shall conduct business in its own name and shall not identify itself or any of its
Affiliates as a division or part of the other; (i) maintain adequate capital for the normal obligations reasonably foreseeable in a business of its size and character and in light of its contemplated business operations (with no obligation to
make capital contributions); (j) not engage in or suffer any Change in Control, dissolution, winding up, liquidation, consolidation or merger in whole or in part unless permitted under this Agreement or a Transaction Document; (k) not commingle
its funds or other assets with those of any Affiliate or any other Person, except as contemplated by this Agreement; (l) maintain its assets in such a manner that it will not be costly or difficult to segregate, ascertain or identify its
individual assets from those of any affiliate or any other person; (m) not and will not hold itself out to be responsible for the debts or obligations of any other Person (other than as contemplated hereunder); and (n) cause each of its
direct and indirect owners to agree not to (i) file or consent to the filing of any bankruptcy, insolvency or reorganization case or proceeding with respect to Trust Subsidiary; (ii) institute any proceedings under any applicable
insolvency law or otherwise seek any relief under any laws relating to the relief from debts or the protection of debtors generally with respect Trust Subsidiary; (iii) seek or consent to the appointment of a receiver, liquidator, assignee,
trustee, sequestrator, custodian or any similar official for Trust Subsidiary or a substantial portion of its properties; or (iv) make any assignment for the benefit of any Trust Subsidiary’s creditors. 

w. No Pledge. No Seller Party shall pledge, transfer or convey any security interest in the Repo Account or Servicer Account to any
Person without the express written consent of Buyer. 
 x. No Division/Series Transactions. Notwithstanding anything to the contrary
contained in this Agreement or any other Transaction Document, (i) no Seller Party that is a limited liability company organized under the laws of the State of Delaware shall enter into (or agree to enter into) any Division/Series Transaction,
or permit any of its Subsidiaries to enter into (or agree to enter into), any Division/Series Transaction and (ii) none of the provisions in this Agreement nor any other Transaction Document, shall be deemed to permit any Division/Series
Transaction. 
 y. Financial Covenants. 

i. Tangible Net Worth. As of the [***] of each calendar month Seller shall maintain a [***] Tangible Net Worth 

ii. Leverage. Seller shall maintain at all times the ratio of Indebtedness (other than Indebtedness incurred under this
Agreement) to Tangible Net Worth not to exceed [***]. 
 z. Further Assurances. Each Seller Party shall execute and deliver to Buyer
all further documents, financing statements, agreements and instruments, and take all further actions that may be necessary or desirable under any applicable Requirement of Law, or that Buyer may request, in order to effectuate the transactions
contemplated by this Agreement and the Transaction Documents. 
 aa. Use of Proceeds. No Seller Party shall use the proceeds of any
Transaction in contravention of the requirements, if any, of any Requirement of Law, including in contravention of Anti-Corruption Laws, Anti-Money Laundering Laws or applicable Sanctions. 

  
 47 

 15. Events of Default 

The occurrence of each of the following shall constitute an “Event of Default” hereunder: 

a. Payment Failure. Failure of any Seller Party to pay any of the following, whether by acceleration or otherwise, under the terms of
this Agreement or any other Transaction Document: 
 i. make any payment of the Price Differential on a Payment Date; 

ii. make any payment of the Repurchase Price on a Repurchase Date or Release Price on a Release Date; 

iii. make any payment of the Commitment Fee, Non-Usage Fee, Yield Maintenance Fee or
Draw Fee when that sum has become due, which failure continues beyond [***] after written notice thereof from Buyer; 
 iv.
make any payment of any other sum that has become due within [***] of Seller receiving notice that such payment is due; or 

v. cure any Margin Deficit by the applicable Margin Deadline pursuant to Section 6 hereof. 

b. Cross Default. 

i. Seller, Trust Subsidiary or Guarantor shall be in default under any Indebtedness or other contract with any Person, in the
aggregate in excess of [***], which default involves the failure to pay a matured obligation, or permits the acceleration of the maturity of obligations thereunder; or 

ii. Any Affiliate of Seller, Trust Subsidiary or Guarantor shall be in default under any Indebtedness or other contract with
Buyer or any of Buyer’s Affiliates, in the aggregate in excess of [***], which default involves the failure to pay a matured obligation or permits the acceleration of the maturity of obligations thereunder. 

c. Assignment. Assignment by (i) any Seller Party of this Agreement or any rights hereunder or (ii) Guarantor of the Guaranty
or any rights thereunder, in each case, without first obtaining the specific written consent of Buyer, or the granting by Seller Parties of any security interest, lien or other encumbrances on any Purchased Assets, Contributed Crop Loans or
Repurchase Assets to any person other than Buyer. 
 d. Insolvency. An Act of Insolvency shall have occurred with respect to Seller,
Trust Subsidiary, Guarantor or any of their respective Affiliates. 
 e. Material Adverse Effect. Any Material Adverse Effect shall
have occurred as determined by Buyer in its reasonable discretion. 
 f. Breach of Identified Representation or Covenant or
Obligation. A breach by: 
 i. any Seller Party of any of the representations, warranties or covenants or obligations set
forth in Sections 13(a)(1) (Seller Existence), Sections 13(a)(2) (Trust Subsidiary Existence), 13(a)(8) (Solvency), 13(a)(13) (Material Adverse Change), 13(a)(21) (Other
Indebtedness), 13(a)(24) (No Prohibited Persons), 13(a)(28) (Anti-Money Laundering Laws and Anti-Corruption Laws), 14(b) (Prohibition of Fundamental Changes), 14(f) (Assignment), 14(g) (Security Interest),
14(j) (Approvals), 14(l) (Distributions), 14(n) (Existence), 14(o) (Jurisdiction of Organization), 14(q) (Transaction with Affiliates), 14(r) (Guarantees), 14(s) (Indebtedness), 14(u) (Plan
Assets), 14(v) (Separateness Covenant), 14(w) (No Pledge), 14(x) (No Division/Series Transactions), 14(y) (Financial Covenants), 14(aa) (Use of Proceeds) or 17(a)(1), 17(a)(2), 17(a)(3),
17(a)(6) or 17(b) (Monthly Compliance Certificates) of this Agreement. 

  
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 ii. Guarantor of any of the representations, warranties or covenants or
obligations set forth in Sections 9(a) (Guarantor Existence), (f) (Solvency), (k) (Material Adverse Change), (q) (No Prohibited Persons), (r) (Anti-Money Laundering Laws and Anti-Corruption Laws), 10(a)
(Prohibition of Fundamental Changes), (c) (Distributions), (e) (Existence), (h) (Plan Assets) or 10(i) (Financial Covenants) of the Guaranty. 

g. Breach of Non-Identified Representation or Covenant. A breach by any Seller Party or
Guarantor of any other material representation, warranty or covenant set forth in this Agreement, the Guaranty or any other Transaction Document (and not otherwise specified in Section 15(f) above), if such breach is not
cured within (x) [***] with respect to Section 17(c) (Servicing Reports) and (y) otherwise, [***] (other than the representations and warranties set forth in Section 13.b, Schedules 1A
and 1B, which shall be considered solely for the purpose of determining the Asset Value, the existence of a Margin Deficit and the obligation to repurchase such Purchased Asset) unless (i) such party shall have made any such representations
and warranties with actual knowledge that they were materially false or misleading at the time made or (ii) any such representations and warranties have been determined by Buyer in its sole discretion to be materially false or misleading on a
regular basis, in which event such breach shall constitute an immediate Event of Default and Seller Parties shall have no cure right hereunder. 

h. Guarantor Breach. Any repudiation of the Guaranty by Guarantor, or if the Guaranty is not enforceable against Guarantor. 

i. Change of Control. The occurrence of a Change in Control without the prior written consent of the Buyer. 

j. Failure to Transfer. Seller fails to transfer the Purchased Assets to Buyer on the Purchase Date or Seller fails to transfer to Trust
Subsidiary the Contributed Crop Loans on the applicable Purchase Price Increase Date. 
 k. Judgment. A final judgment or judgments
for the payment of money in excess of [***] individually or [***] in the aggregate shall be rendered against any Seller Party or Guarantor, in each case, by one (1) or more courts, administrative tribunals or other bodies having jurisdiction
and the same shall not be satisfied, discharged (or provision shall not be made for such discharge) or bonded, or a stay of execution thereof shall not be procured, within [***] from the date of entry thereof. 

l. Government Action. Any Governmental Authority or any person, agency or entity acting or purporting to act under Governmental
Authority shall have taken any action to condemn, seize or appropriate, or to assume custody or control of, all or any substantial part of the Property of Seller, Trust Subsidiary, or Guarantor, or shall have taken any action to displace the
management of Seller, Trust Subsidiary, or Guarantor or to curtail its authority in the conduct of the business of Seller, Trust Subsidiary, or Guarantor, or takes any action in the nature of enforcement to remove, limit or restrict the approval of
Seller, Trust Subsidiary, or Guarantor, as an issuer, buyer or a seller/servicer of Crop Loans, and such action provided for in this subparagraph shall not have been discontinued or stayed within [***]. 

m. Inability to Perform. An officer of any Seller Party or Guarantor shall admit in writing its inability to, or its intention not to,
perform any of each Seller Party’s Obligations or Guarantor’s obligations hereunder or under the Guaranty. 

  
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 n. Security Interest. This Agreement shall for any reason cease to create a valid,
first priority security interest in any material portion of the Purchased Assets, the Contributed Crop Loans or other Repurchase Assets purported to be covered hereby. 

o. Financial Statements. Seller’s or Guarantor’s audited annual financial statements or the notes thereto or other opinions or
conclusions stated therein shall be qualified or limited by reference to the status of Seller or Guarantor as a “going concern” or a reference of similar import. 

p. Servicer Termination Event. A Servicer Termination Event shall have occurred and Seller Parties shall not have (i) appointed a
successor servicer or subservicer acceptable to Buyer, (ii) transferred the servicing of the Contributed Crop Loans to such successor servicer or subservicer or (iii) delivered a fully executed side letter with such successor servicer or
subservicer in each case, within [***] following the occurrence of such Servicer Termination Event. 
 q. Enforceability. For
any reason, this Agreement at any time shall not be in full force and effect in all material respects or shall not be enforceable in all material respects in accordance with its terms, or any Person (other than Buyer) shall contest the validity,
enforceability, perfection or priority of any Lien granted pursuant thereto, or any party thereto (other than Buyer) shall seek to disaffirm, terminate, limit or reduce its obligations hereunder. 

An Event of Default shall (i) be deemed continuing unless expressly waived by Buyer in writing and (ii) not be deemed continuing if
expressly waived by Buyer in writing. 
 16. Remedies upon Default 

In the event that an Event of Default shall have occurred and be continuing: 

a. Buyer may, at its option (which option shall be deemed to have been exercised immediately upon the occurrence of an Act of Insolvency of
Seller, Trust Subsidiary, Guarantor or any of their respective Affiliates), declare an Event of Default to have occurred hereunder and, upon the exercise or deemed exercise of such option, the Repurchase Date for each Transaction hereunder shall, if
it has not already occurred, be deemed immediately to occur (except that, in the event that the Purchase Date for any Transaction has not yet occurred as of the date of such exercise or deemed exercise, such Transaction shall be deemed immediately
canceled). Buyer shall (except upon the occurrence of an Act of Insolvency of Seller, Trust Subsidiary, Guarantor or any of their respective Affiliates) give notice to the Seller Parties of the exercise of such option as promptly as practicable.

 b. If Buyer exercises or is deemed to have exercised the option referred to in subparagraph (a) of this Section, (i) each Seller
Party’s obligations to repurchase all Purchased Assets at the Repurchase Price shall thereupon become immediately due and payable, (ii) all Income paid after such exercise or deemed exercise shall be retained by Buyer and applied, in
Buyer’s sole discretion, to the Repurchase Price and any other amounts owing by Seller Parties hereunder, and (iii) Seller Parties shall immediately deliver to Buyer the Asset Files and Purchased Asset Documents relating to any Purchased
Assets and/or Contributed Crop Loans subject to such Transactions then in any Seller Party’s possession or control. 
 c. Buyer also
shall have the right to obtain physical possession, and to commence an action to obtain physical possession, of all Records and files of Seller Parties relating to the Purchased Assets, the Contributed Crop Loans and all documents relating thereto
(including, without limitation, any legal, credit or servicing files with respect to the Purchased Assets and/or the Contributed Crop Loans) which are then or may thereafter come in to the possession of a Seller Party or any third party acting for a

  
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Seller Party. Without limiting the rights of Buyer hereto to pursue all other legal and equitable rights available to Buyer for any Seller Party’s failure to perform its obligations under
this Agreement, each Seller Party acknowledges and agrees that the remedy at law for any failure to perform obligations hereunder would be inadequate and Buyer shall be entitled to specific performance, injunctive relief, or other equitable remedies
in the event of any such failure. The availability of these remedies shall not prohibit Buyer from pursuing any other remedies for such breach, including the recovery of monetary damages. 

d. Buyer shall have the right to direct all servicers then servicing any Purchased Assets and/or Contributed Crop Loans to remit all
collections thereon to Buyer, and if any such payments are received by a Seller Party, Seller Parties shall not commingle the amounts received with other funds of such Seller Party and shall promptly pay them over to Buyer. Buyer shall also have the
right to terminate any one or all of the servicers then servicing any Purchased Assets and/or Contributed Crop Loans with or without cause. In addition, Buyer shall have the right to immediately sell the Purchased Assets and/or Contributed Crop
Loans and liquidate all Repurchase Assets. Such disposition of Purchased Assets and/or Contributed Crop Loans may be, at Buyer’s option, on either a servicing-released or a servicing-retained basis. Buyer shall not be required to give any
warranties as to the Purchased Assets and/or Contributed Crop Loans with respect to any such disposition thereof. Buyer may specifically disclaim or modify any warranties of title or the like relating to the Purchased Assets and/or Contributed Crop
Loans. The foregoing procedure for disposition of the Purchased Assets and/or Contributed Crop Loans and liquidation of the Repurchase Assets shall not be considered to adversely affect the commercial reasonableness of any sale thereof. Each Seller
Party agrees that it would not be commercially unreasonable for Buyer to dispose of the Purchased Assets and/or Contributed Crop Loans or the Repurchase Assets or any portion thereof by using Internet sites that provide for the auction of assets
similar to the Purchased Assets and/or Contributed Crop Loans or the Repurchase Assets, or that have the reasonable capability of doing so, or that match buyers and sellers of assets. Buyer shall also be entitled to sell any or all of such Purchased
Assets and/or Contributed Crop Loans individually for the prevailing price. Buyer shall also be entitled, in its sole discretion to elect, in lieu of selling all or a portion of such Purchased Assets and/or Contributed Crop Loans, to give the Seller
Parties credit for such Purchased Assets and/or Contributed Crop Loans and the Repurchase Assets in an amount equal to the Market Value of the Purchased Assets and/or Contributed Crop Loans against the aggregate unpaid Repurchase Price or Release
Price, as applicable, and any other amounts owing by the Seller Parties hereunder. 
 e. Upon the occurrence and continuation of one or more
Events of Default, Buyer may apply any proceeds from the liquidation of the Purchased Assets and/or Contributed Crop Loans and Repurchase Assets to the Repurchase Price and the Release Prices hereunder, respectively and all other Obligations in the
manner Buyer deems appropriate in its sole discretion. 
 f. Each Seller Party shall be liable to Buyer for (i) the amount of all
reasonable legal or other expenses including, without limitation, all costs and expenses of Buyer in connection with the enforcement of this Agreement, the Transaction Documents or any other agreement evidencing a Transaction, whether in action,
suit or litigation or bankruptcy, insolvency or other similar proceeding affecting creditors’ rights generally, further including, without limitation, the reasonable fees and expenses of external counsel incurred in connection with or as a
result of an Event of Default, (ii) actual damages in an amount equal to the cost (including all fees, expenses and commissions) of entering into replacement transactions and entering into or terminating hedge transactions in connection
with or as a result of an Event of Default, and (iii) any other loss, damage, cost or expense directly arising or resulting from the occurrence of an Event of Default in respect of a Transaction. 

g. To the extent permitted by applicable law, each Seller Party shall be liable to Buyer for interest on any amounts owing by Seller Parties
hereunder, from the date such Seller Party becomes liable for such amounts hereunder until such amounts are (i) paid in full by Seller Parties or (ii) satisfied in full by the exercise of Buyer’s rights hereunder. Interest on any sum
payable by Seller Parties under this Section 16(g) shall be at a rate equal to the Post Default Rate. 

  
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 h. [reserved]. 

i. Buyer may exercise one or more of the remedies available to Buyer immediately upon the occurrence of an Event of Default and, except to the
extent provided in subsection (a) of this Section, at any time thereafter without notice to the Seller Parties. All rights and remedies arising under this Agreement as amended from time to time hereunder are cumulative and not exclusive of any
other rights or remedies which Buyer may have. 
 j. Buyer may enforce its rights and remedies hereunder without prior judicial process or
hearing, and each Seller Party hereby expressly waives any defenses such Seller Party might otherwise have to require Buyer to enforce its rights by judicial process. Each Seller Party also waives any defense (other than a defense of payment or
performance) such Seller Party might otherwise have arising from the use of nonjudicial process, enforcement and sale of all or any portion of the Repurchase Assets, or from any other election of remedies. Each Seller Party recognizes that
nonjudicial remedies are consistent with the usages of the trade, are responsive to commercial necessity and are the result of a bargain at arm’s length. 

k. [reserved]. 
 l. The Seller
Parties recognize that the Buyer may be unable to effect a public sale of any or all of the Purchased Assets and/or the Contributed Crop Loans. Each Seller Party acknowledges and agrees that any such private sale may result in prices and other terms
less favorable to the Buyer than if such sale were a public sale and, notwithstanding such circumstances, agrees that any such private sale shall be deemed to have been made in a commercially reasonable manner. The Seller Parties further agree that
to the extent Buyer provides Seller Parties with at least [***] prior notice of any sale, such notice shall be deemed to be commercially reasonable. 

m. Nothing contained in the Agreement shall obligate Buyer to segregate any Purchased Assets delivered to Buyer by Seller Parties.
Notwithstanding anything to the contrary set forth in the Agreement, in no event shall the Purchased Assets or the Contributed Crop Loans remain in the custody of any Seller Party or any Affiliate thereof. 

17. Reports 
 a.
Notices. Each Seller Party and Guarantor shall furnish (x) to the Buyer promptly, copies of any material and adverse notices (including, without limitation, notices of defaults, breaches, potential defaults or potential breaches) and any
material financial information that is not otherwise required to be provided by Seller or Guarantor hereunder or under the Transaction Documents which is given to Seller’s or Guarantor’s lenders, (y) to the Buyer immediately, notice
of the occurrence of any Event of Default hereunder or default or breach by Seller, Trust Subsidiary, Guarantor or Master Servicer of any obligation under any Transaction Document or any material contract or agreement of Seller, Trust Subsidiary,
Guarantor or Master Servicer or the occurrence of any event or circumstance that such party reasonably expects has resulted in, or will, with the passage of time, result in, a Material Adverse Effect or an Event of Default or such a default or
breach by such party and (z) the following to Buyer: 
 (1) monthly financial statements and any other reports (to the
extent received) with respect to the Contributed Crop Loans within [***] of the related month end; 

  
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 (2) as soon as available and in any event within [***] after the end of each
fiscal quarter, the unaudited consolidated balance sheets of Guarantor and its consolidated Subsidiaries as at the end of such period and the related unaudited consolidated and statements of income and retained earnings and of cash flows for the
Guarantor and its consolidated Subsidiaries for such period and the portion of the fiscal year through the end of such period, accompanied by a certificate of a Responsible Officer of Guarantor, which certificate shall state that said consolidated
financial statements fairly present in all material respects the consolidated financial condition and results of operations of Guarantor and its consolidated Subsidiaries in accordance with GAAP, consistently applied, as at the end of, and for, such
period (other than with respect to footnotes and subject to normal year-end adjustments) , together with copies of the internal worksheets that were used to prepare each such consolidated financial statement
and that show separate financial information regarding Seller and Trust Subsidiary; 
 (3) as soon as available and in any
event within [***] after the end of each fiscal year of Guarantor, the consolidated balance sheets of Seller and its consolidated Subsidiaries as at the end of such fiscal year and the related consolidated statements of income and retained earnings
and of cash flows for the Guarantor and its consolidated Subsidiaries for such year, setting forth in each case in comparative form the figures for the previous year, accompanied by an opinion thereon of independent certified public accountants of
recognized national standing, which opinion and the scope of audit shall be acceptable to Buyer in its sole discretion, shall have no “going concern” qualification and shall state that said consolidated financial statements fairly present
the consolidated financial condition and results of operations of Guarantor and its respective consolidated Subsidiaries as at the end of, and for, such fiscal year in accordance with GAAP, , together with copies of the internal worksheets that were
used to prepare each such consolidated financial statement and that show separate financial information regarding Seller and Trust Subsidiary; 

(4) if applicable, copies of any 10-Ks, 10-Qs,
registration statements and other “corporate finance” SEC filings (other than 8-Ks) by Guarantor, within [***] of their filing with the SEC; provided that, Seller, Trust
Subsidiary or any Affiliate will provide Buyer with a copy of the annual 10-K filed with the SEC by Guarantor, Seller, Trust Subsidiary or their Affiliates, no later than [***] after the end of the year; 

(5) as soon as available, and in any event within [***] of receipt, copies of relevant portions of all final written
Governmental Authority and investor audits, examinations, evaluations, monitoring reviews and reports of its operations (including those prepared on a contract basis), in each case, to the extent Guarantor or Seller Parties are not prohibited from
providing the aforementioned items by such Governmental Authority or investor, which provide for or relate to (i) material corrective action required, or (ii) material sanctions proposed, imposed or required, including without limitation
notices of defaults, notices of termination of approved status, notices of imposition of supervisory agreements or interim servicing agreements, and notices of probation, suspension, or non-renewal; 

(6) with respect to any Contributed Crop Loan, within [***] upon Seller’s receipt of written notice or actual knowledge
thereof, that the Crop has been damaged by waste, fire, earthquake or earth movement, windstorm, flood, tornado or other casualty, or otherwise damaged so as to affect adversely the value of such Contributed Crop Loan; 

(7) with respect to any Contributed Crop Loan, within [***] of Seller’s receipt written notice or actual knowledge
thereof, copies of any prevent plant or late plant notifications; 

  
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 (8) quarterly, total loan production volume by Master Servicer together with
the certificate delivered pursuant to Section 17(b) below; 
 (9) from time to time such other
information regarding the financial condition, operations, or business of the Guarantor or Seller Parties as Buyer may reasonably request; 

(10) as soon as reasonably possible, and in any event within [***] after a Responsible Officer of Guarantor or either Seller
Party has knowledge of the occurrence of any Event of Termination, stating the particulars of such Event of Termination in reasonable detail; 

(11) as soon as reasonably possible, and in any event within [***] notice that a Seller Party has moved its chief executive
office from the address referred to in Section 13(a)(17) hereof; 
 (12) as soon as reasonably
possible, notice of any of the following events: 
 (a) any material change in the insurance coverage required of Seller and
Trust Subsidiary (if applicable) with a copy of evidence of same attached; 
 (b) any material litigation, investigation,
proceeding or suspension between Guarantor, Seller, Trust Subsidiary or Master Servicer, on the one hand, and any Governmental Authority or any Person including, without limitation, any licensing issues; 

(c) any material change in accounting policies or financial reporting practices of Guarantor or Seller Parties; 

(d) any material issues raised upon examination of Guarantor, and Seller Party or Guarantor’s or a Seller Party’s
facilities by any Governmental Authority; 
 (e) any material change in the Indebtedness of Guarantor or Seller, including,
without limitation, any default, renewal, non-renewal, termination, increase in available amount or decrease in available amount related thereto; 

(f) promptly upon Seller’s receipt of written notice or knowledge of (i) any default related to any Repurchase
Asset, (ii) any lien or security interest (other than security interests created hereby or by the other Transaction Documents) on, or claim asserted against, any of the Purchased Assets and the Contributed Crop Loans; and 

(g) any other event, circumstance or condition that has resulted, or could reasonably be expected to result in a Material
Adverse Effect with respect to, Guarantor Seller Parties or Master Servicer. 
 b. Monthly Compliance Certificates. Seller shall and
shall cause Guarantor to furnish to Buyer, at the time the Guarantor furnishes each set of financial statements pursuant to Section 17(a)(1), (2) or (3) above, a certificate of a Responsible Officer of
Guarantor in the form of Exhibit B hereof. 
 c. Servicing Reports. On or prior to each Servicer Reporting
Date, Seller shall furnish to Buyer a Servicing Report. 
 d. Asset Tape. During the months of [***] and in any other month, on the
[***] thereof, and an updated cumulative Asset Tape with respect to each Contributed Crop Loan. 

  
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 e. Distribution Worksheet. Each Seller Party shall cause or shall cause Servicer to
provide to Buyer, electronically, in a format mutually acceptable to Buyer and Seller, a Distribution Worksheet by no later than the Servicer Reporting Date. 

f. Other. Seller Parties and Guarantor shall deliver to Buyer any other reports or information reasonably requested by Buyer or as
otherwise required pursuant to this Agreement. 
 18. Repurchase Transactions 

Buyer may, in its sole election, engage in repurchase transactions (as “seller” thereunder) with any or all of its interest in the
Purchased Assets, Contributed Crop Loans and/or Repurchase Assets or pledge, hypothecate, assign, transfer or otherwise convey any or all of its interest in the Purchased Assets and/or Repurchase Assets with a counterparty of Buyer’s choice
(such transaction, a “Repledge Transaction”). Any Repledge Transaction shall be effected by notice to the Buyer, and shall be reflected on the books and records of the Buyer. No such Repledge Transaction shall relieve Buyer of its
obligations to transfer Purchased Assets, Contributed Crop Loans and Repurchase Assets to Seller Parties (and not substitutions thereof) on the Repurchase Date pursuant to the terms hereof. In the event Buyer engages in a repurchase transaction with
any of the Purchased Assets, Contributed Crop Loans or otherwise pledges or hypothecates any of the Purchased Assets or Contributed Crop Loans, Buyer shall have the right to assign to Buyer’s counterparty any of the applicable representations
or warranties herein and the remedies for breach thereof, as they relate to the Purchased Assets and Contributed Crop Loans that are subject to such repurchase transaction. In furtherance, and not by limitation of, the foregoing, it is acknowledged
that each counterparty under a Repledge Transaction (a “Repledgee”), is a repledgee as contemplated by Sections 9-207 and 9-623 of the UCC (and the
relevant official comments thereunder). Buyer is hereby authorized to share any information delivered hereunder with the Repledgee to the extent otherwise permitted under Section 31 hereof. Buyer may distribute to any
prospective or actual Repledgee this Agreement, any Transaction Document and any document or other information delivered to Buyer by Seller Parties. 

19. Single Agreement 

Buyer and Seller Parties acknowledge that, and have entered hereunto, and will enter into each Transaction hereunder, in consideration of and
in reliance upon the fact that, all Transactions hereunder constitute a single business and contractual relationship and have been made in consideration of each other. Accordingly, each of Buyer and Seller Parties agrees (i) to perform all of
its obligations in respect of each Transaction hereunder, and that a default in the performance of any such obligations shall constitute a default by it in respect of all Transactions hereunder, and (ii) that payments, deliveries and other
transfers made by either of them in respect of any Transaction shall be deemed to have been made in consideration of payments, deliveries and other transfers in respect of any other Transactions hereunder, and the obligations to make any such
payments, deliveries and other transfers may be applied against each other and netted. 
 20. Notices and Other Communications 

Any and all notices (with the exception of Margin Calls, which shall be given in accordance with Section 6 hereof and
Transaction Request and Confirmations, which shall be delivered via electronic mail or other electronic medium agreed to by the Buyer and the Seller), statements, demands or other communications hereunder may be given by a party to the other by
mail, facsimile, messenger or otherwise (including without limitation by electronic transmission) to the address specified below, or so sent to such party at any other place specified in a notice of change of address hereafter received by the other.
All notices, demands and requests hereunder may be made orally, to be confirmed promptly in writing, or by other communication as specified in the preceding sentence. In all cases, to the extent that the related

  
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individual set forth in the respective “Attention” line is no longer employed by the respective Person, such notice may be given to the attention of a Responsible Officer of the
respective Person or to the attention of such individual or individuals as subsequently notified in writing by a Responsible Officer of the respective Person. Except as otherwise provided in this Agreement and except for notices given under
Section 3 hereof (which shall be effective only on receipt), all such communications shall be deemed to have been duly given when personally delivered, in the case of a mailed notice, upon receipt, or in the case of
electronic transmission upon the sender’s receipt of an acknowledgment from the intended recipient (such as return email or other written acknowledgment, but excluding, by the “return receipt requested” function) in each case given or
addressed as aforesaid. 
 If to Seller Parties: 

FACO Crop Loans LLC 
 c/o
Finance of America Holdings LLC 
 909 Lake Carolyn Parkway, Suite 1550 

Irving, TX 75039 
 Attention:
General Counsel 
 Email: [***] 

FACo Crop Loan Financing Trust C1 

c/o Finance of America Holdings LLC 

909 Lake Carolyn Parkway, Suite 1550 

Irving, TX 75039 
 Attention:
General Counsel 
 Email: [***] 

If to Buyer: 
 National Founders
LP 
 [***] 
 [***] 

Attn: General Counsel 
 E-mail: [***] 
 With copy to: 

[***] 
 [***] 

[***] 
 Attn: General Counsel

 E-mail: [***] 

21. Entire Agreement; Severability 

This Agreement shall supersede any existing agreements between the parties containing general terms and conditions for repurchase transactions.
Each provision and agreement herein shall be treated as separate and independent from any other provision or agreement herein and shall be enforceable notwithstanding the unenforceability of any such other provision or agreement. 

  
 56 

 22. Non-assignability 

(a) The Transaction Documents are not assignable by any Seller Party or Guarantor without prior written consent of Buyer. Buyer may from time
to time assign all or a portion of its rights and obligations under this Agreement and the Transaction Documents to any Person that is a QIB; provided, however that Buyer shall maintain, solely for this purpose as a non-fiduciary agent of Seller, for review and inspection by Seller at any reasonable time and from time to time upon written request, a register of the names and addresses of assignees (the
“Register”) and a copy of an executed assignment and acceptance by Buyer and assignee (“Assignment and Acceptance”), specifying the percentage or portion of such rights and obligations assigned. The entries in
the Register shall be conclusive absent manifest error, and the Seller Parties, Guarantor and Buyer shall treat each Person whose name is recorded in the Register pursuant to the preceding sentence as Buyer hereunder. Upon such assignment and
recordation in the Register, (a) such assignee shall be a party hereto and to each Transaction Document to the extent of the percentage or portion set forth in the Assignment and Acceptance, and shall succeed to the applicable rights and
obligations of Buyer hereunder, as applicable, and (b) Buyer shall be released from its obligations hereunder and under the Transaction Documents. Any assignment hereunder shall be deemed a joinder of such assignee as Buyer hereto. Unless
otherwise stated in the Assignment and Acceptance, Seller shall continue to take directions solely from Buyer unless otherwise notified by Buyer in writing. Buyer may distribute to any prospective or actual assignee this Agreement, any Transaction
Document and any document or other information delivered to Buyer by Seller Parties. 
 (b) Buyer may sell participations to one or more
Persons in or to all or a portion of its rights and obligations under this Agreement; provided, however, (i) Buyer’s obligations under this Agreement shall remain unchanged, (ii) Buyer shall remain solely responsible to the other
parties hereto for the performance of such obligations; and (iii) the Seller shall continue to deal solely and directly with the Buyer in connection with Buyer’s rights and obligations under this Agreement and the other Transaction
Documents. Buyer may distribute to any prospective or actual participant this Agreement, any Transaction Document and any document or other information delivered to Buyer by Seller Parties. 

(c) Each Seller Party and Guarantor agree that each participant shall be entitled to the benefits of Section 11(b),
and Section 11(e) (subject to the requirements and limitations therein, including the requirements under Section 11(e) (it being understood that the documentation required under
Section 11(e)(6) shall be delivered to the participating Buyer)) to the same extent as if it were Buyer and had acquired its interest by assignment pursuant to this Section 22; provided
that such participant shall not be entitled to receive any greater payment under Section 11(b) or Section 11(e), with respect to any participation, than its participating Buyer would have
been entitled to receive, except to the extent such entitlement to receive a greater payment results from a change in any applicable law or in the interpretation or application thereof by a Governmental Authority that occurs after the participant
acquired the applicable participation. Buyer shall maintain, solely for this purpose as a non-fiduciary agent of Seller, for review and inspection by Seller at any reasonable time and from time to time upon
written request, a register of the names and addresses of each participating Buyer (the “Participant Register”) and a copy of an executed participation agreement by Buyer and such participating Buyer (a “Participation
Agreement”), specifying the percentage or portion of such rights and obligations sold under a Participation Agreement. The entries in the Participant Register shall be conclusive absent manifest error, and the Seller Parties, Guarantor
and Buyer shall treat each Person whose name is recorded in the Participant Register pursuant to the preceding sentence as Buyer hereunder. Upon such transfer and recordation in the Participation Register, such participant shall be a party hereto
and to each Transaction Document to the extent of the percentage or portion set forth in the Participation Agreement. 

  
 57 

 (d) The Buyer may, in connection with any assignment or participation or proposed assignment
or participation pursuant to this Section 22, disclose to the assignee or participant or proposed assignee or participant, as the case may be, this Agreement, any Transaction Document and any information relating to Seller
Parties, Guarantor or any of their Subsidiaries or to any aspect of the Transactions that has been furnished to Buyer by or on behalf of Seller Parties; provided that such assignee or participant agrees to hold such information subject
to the confidentiality provisions of this Agreement. 
 23. Set-off 

Upon the occurrence and continuance of an Event of Default, in addition to any rights and remedies of Buyer hereunder and by law, Buyer shall
have the right, without prior notice to any Seller Party or Guarantor, any such notice being expressly waived by Seller Parties or Guarantor to the extent permitted by applicable law, upon any amount becoming due and payable by Seller Parties or
Guarantor hereunder (whether at the stated maturity, by acceleration or otherwise) to set-off and appropriate and apply against such amount from Seller Parties, Guarantor or any Affiliate thereof to Buyer or
any of its Affiliates any and all deposits (general or special, time or demand, provisional or final), in any currency, and any other credits, indebtedness or claims, in any currency, in each case whether direct or indirect, absolute or contingent,
matured or unmatured, at any time held or owing by Buyer or any Affiliate thereof to or for the credit or the account of Seller Parties, Guarantor or any Affiliate thereof. Notwithstanding the foregoing to the contrary, Buyer agrees promptly to
notify Seller and the Guarantor after any such set-off and application made by Buyer; provided that the failure to give such notice shall not affect the validity of such set-off and application. 
 24. Binding Effect; Governing Law; Jurisdiction 

a. This Agreement shall be binding and inure to the benefit of the parties hereto and their respective successors and permitted assigns. Seller
Parties acknowledge that the obligations of Buyer hereunder or otherwise are not the subject of any guaranty by, or recourse to, any direct or indirect parent or other Affiliate of Buyer. THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH, AND
GOVERNED BY, THE LAW OF THE STATE OF NEW YORK, WITHOUT GIVING EFFECT TO CONFLICT OF LAWS PRINCIPLES (OTHER THAN SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL
OBLIGATIONS LAW). 
 b. EACH PARTY HERETO HEREBY WAIVES TRIAL BY JURY. EACH PARTY HERETO HEREBY IRREVOCABLY CONSENTS TO THE EXCLUSIVE
JURISDICTION OF ANY COURT IN THE BOROUGH OF MANHATTAN IN NEW YORK CITY, OR IN THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK, ARISING OUT OF OR RELATING TO THE TRANSACTION DOCUMENTS IN ANY ACTION OR PROCEEDING. EACH PARTY
HERETO HEREBY SUBMITS TO, AND WAIVES ANY OBJECTION THEY MAY HAVE TO, EXCLUSIVE PERSONAL JURISDICTION AND VENUE IN ANY COURT IN THE BOROUGH OF MANHATTAN IN NEW YORK CITY OR IN THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK,
WITH RESPECT TO ANY DISPUTES ARISING OUT OF OR RELATING TO THE TRANSACTION DOCUMENTS. 
 25. No Waivers, Etc. 

No express or implied waiver of any Event of Default by either party shall constitute a waiver of any other Event of Default and no exercise of
any remedy hereunder by any party shall constitute a waiver of its right to exercise any other remedy hereunder. No modification or waiver of any provision of this Agreement and no consent by any party to a departure herefrom shall be effective
unless and until such shall be in writing and duly executed by all parties hereto. Without limitation on any of the foregoing, the failure to give a notice pursuant to Section 6(a), 17(a) or otherwise, will not
constitute a waiver of any right to do so at a later date. 

  
 58 

 26. Intent 

a. The parties recognize that each Transaction is a “securities contract” as that term is defined in Section 741 of
Title 11 of the United States Code, as amended, and a “master netting agreement” as that term is defined in Section 101(38A)(A) of the Bankruptcy Code, that all payments hereunder are deemed “margin
payments” or “settlement payments” as defined in Title 11 of the United States Code, and that the pledge of the Repurchase Assets constitutes “a security agreement or arrangement or other credit enhancement”
that is “related to” the Agreement and Transactions hereunder within the meaning of Sections 101(38A)(A) and 741(7)(A)(xi) of the Bankruptcy Code. Seller Parties and Buyer further recognizes and intend that this Agreement is an agreement
to provide financial accommodations and is not subject to assumption pursuant to Bankruptcy Code Section 365(a). 
 b. Buyer’s
right to liquidate the Purchased Assets and the Contributed Crop Loans delivered to it in connection with the Transactions hereunder or to accelerate or terminate this Agreement or otherwise exercise any other remedies pursuant to
Section 16 hereof is a contractual right to liquidate, accelerate or terminate such Transaction as described in Bankruptcy Code Sections 555 and 561; any payments or transfers of property made with respect to this Agreement
or any Transaction to satisfy a Margin Deficit shall be considered a “margin payment” as such term is defined in Bankruptcy Code Section 741(5). 

c. The parties agree and acknowledge that if a party hereto is an “insured depository institution,” as such term is defined in
the Federal Deposit Insurance Act, as amended (“FDIA”), then each Transaction hereunder is a “qualified financial contract,” as that term is defined in FDIA and any rules, orders or policy statements thereunder
(except insofar as the type of assets subject to such Transaction would render such definition inapplicable). 
 d. It is understood that
this Agreement constitutes a “netting contract” as defined in and subject to Title IV of the Federal Deposit Insurance Corporation Improvement Act of 1991 (“FDICIA”) and each payment entitlement and payment
obligation under any Transaction hereunder shall constitute a “covered contractual payment entitlement” or “covered contractual payment obligation”, respectively, as defined in and subject to FDICIA (except insofar
as one or both of the parties is not a “financial institution” as that term is defined in FDICIA). 
 e. This Agreement is
intended to be a “securities contract,” within the meaning of Section 101(47), Section 362(b)(6), Section 555 and Section 741 under the Bankruptcy Code. 

f. Each party agrees that this Agreement is intended to create mutuality of obligations among the parties, and as such, the Agreement
constitutes a contract which (i) is between all of the parties and (ii) places each party in the same right and capacity. 

27. Disclosure Relating to Certain Federal Protections 

The parties acknowledge that they have been advised that: 

a. in the case of Transactions in which one of the parties is a broker or dealer registered with the SEC under Section 15 of the 1934 Act,
the Securities Investor Protection Corporation has taken the position that the provisions of the SIPA do not protect the other party with respect to any Transaction hereunder; 

  
 59 

 b. in the case of Transactions in which one of the parties is a government securities broker
or a government securities dealer registered with the SEC under Section 15C of the 1934 Act, SIPA will not provide protection to the other party with respect to any Transaction hereunder; and 

c. in the case of Transactions in which one of the parties is a financial institution, funds held by the financial institution pursuant to a
Transaction hereunder are not a deposit and therefore are not insured by the FDIC or the National Credit Union Share Insurance Fund, as applicable. 

28. Power of Attorney 

Each Seller Party hereby authorizes Buyer to file such financing statement or statements relating to the Repurchase Assets without any Seller
Party’s signature thereon as Buyer, at its option, may deem appropriate. Each Seller Party hereby appoints Buyer as such Seller Party’s agent and
attorney-in-fact to (i) execute any such financing statement or statements in such Seller Party’s name and to perform all other acts which Buyer deems
appropriate to perfect and continue its ownership interest in and/or the security interest granted hereby, if applicable, and to protect, preserve and realize upon the Repurchase Assets, including, but not limited to, the right to indorse notes,
complete blanks in documents, transfer servicing, and sign assignments on behalf of such Seller Party as its agent and attorney-in-fact and (ii) to pay or discharge
Taxes and Liens levied or placed on or threatened against the Repurchase Assets. This agency and power of attorney is coupled with an interest and is irrevocable without Buyer’s consent. Notwithstanding the foregoing, the power of attorney
hereby granted may be exercised only during the occurrence and continuance of any Event of Default hereunder. Seller shall pay the filing costs for any financing statement or statements prepared pursuant to this Section 28.
In addition to the foregoing, each Seller Party agrees to execute a Power of Attorney, in the form of Exhibit C-1 and
Exhibit C-2 hereto, to be delivered on the date hereof. 
 29.
Indemnification; Obligations; Recourse 
 a. Each Seller Party and Guarantor agrees to hold Buyer, Buyer’s Affiliates and
Buyer’s and Buyer’s Affiliates” respective officers, directors, employees, agents and advisors (each, an “Indemnified Party”) harmless from and indemnify each Indemnified Party (and will reimburse each Indemnified
Party as the same is incurred) against all liabilities, losses, damages, judgments, reasonable out-of-pocket costs and expenses (including, without limitation,
reasonable fees and expenses of counsel in connection therewith and in connection with the enforcement of this indemnification obligation) of any kind which may be imposed on, incurred by, or asserted against any Indemnified Party relating to or
arising out of this Agreement, any Transaction Request and Confirmation, any Transaction Document or any transaction contemplated hereby or thereby resulting from anything other than the Indemnified Party’s gross negligence or willful
misconduct. Seller Parties and Guarantor also agree to reimburse each Indemnified Party for all reasonable expenses in connection with the enforcement of this Agreement and the exercise of any right or remedy provided for herein, any Transaction
Request and Confirmation and any Transaction Document, including, without limitation, the reasonable fees and disbursements of counsel. Each Seller Party’s and Guarantor’s agreements in this Section 29 shall
survive the payment in full of the Repurchase Price and the expiration or termination of this Agreement. Each Seller Party and Guarantor hereby acknowledges that its obligations hereunder are recourse obligations of Seller Parties and Guarantor and
are not limited to recoveries each Indemnified Party may have with respect to the Purchased Assets and the Contributed Crop Loans. Seller Parties and Guarantor also agree not to assert any claim against Buyer, or any of its Affiliates, or any of
their respective officers, directors, employees, attorneys and agents, on any theory of liability, for special, indirect, consequential or punitive damages arising out of or otherwise relating to the facility established hereunder, the actual or
proposed use of the proceeds of the Transactions, this Agreement or any of the transactions contemplated thereby. This Section 29(a) shall not apply with respect to Taxes other than any Taxes that represent liabilities,
losses, damages, costs, or expenses arising 

  
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from any non-Tax claim. THE FOREGOING INDEMNITY AND AGREEMENT NOT TO ASSERT CLAIMS EXPRESSLY APPLIES, WITHOUT LIMITATION, TO THE NEGLIGENCE (BUT NOT GROSS
NEGLIGENCE OR WILLFUL MISCONDUCT) OF THE INDEMNIFIED PARTIES AS DETERMINED BY A COURT OF COMPETENT JURISDICTION. 
 b. Without limiting the
provisions of Section 29(a) hereof, if any Seller Party fails to pay when due any costs, expenses or other amounts payable by it under this Agreement, including, without limitation, fees and expenses of counsel and
indemnities, such amount may be paid on behalf of a Seller Party by Buyer (subject to reimbursement by Seller Party), in its sole discretion. 

c. The obligations of the Seller Parties from time to time to pay the Repurchase Price, Release Price, the Price Differential, and all other
amounts due and Obligations owing under this Agreement shall be full recourse obligations of the Seller Parties. 
 30. Counterparts

 This Agreement may be executed in one (1) or more counterparts, each of which shall be deemed to be an original, and all such
counterparts shall together constitute one (1) and the same instrument. Delivery of an executed counterpart of a signature page of this Agreement in Portable Document Format (PDF) or by facsimile shall be effective as delivery of a manually
executed original counterpart of this Agreement. 
 31. Confidentiality 

This Agreement and its terms, provisions, supplements and amendments, and notices hereunder, are proprietary to each party hereto and shall be
held by each other party hereto in strict confidence and shall not be disclosed to any third party without the written consent of each other party hereto except for (i) disclosure to Buyer’s, any Seller Party’s or Guarantor’s
direct and indirect Affiliates thereof and Subsidiaries thereof, and each of their respective officers, directors employees, investors, potential investors, attorneys or accountants, but only to the extent such disclosure is necessary and such
parties agree to hold all information in strict confidence, (ii) disclosure required by law, rule, regulation or order of a court or other regulatory body. Notwithstanding the foregoing or anything to the contrary contained herein or in any
other Transaction Document, the parties hereto may disclose to any and all Persons, without limitation of any kind, the federal, state and local tax treatment of the Transactions, any fact relevant to understanding the federal, state and local tax
treatment of the Transactions, and all materials of any kind (including opinions or other tax analyses) relating to such federal, state and local tax treatment and that may be relevant to understanding such tax treatment; provided that
no party hereto may disclose the name of or identifying information with respect to any other party hereto or any pricing terms (including, without limitation, the Pricing Rate, Commitment Fee, Purchase Price Percentage and Purchase Price) or other
nonpublic business or financial information (including any sublimits and financial covenants) that is unrelated to the federal, state and local tax treatment of the Transactions and is not relevant to understanding the federal, state and local tax
treatment of the Transactions, without the prior written consent of the other party. 
 32. Periodic Due Diligence Review 

Each Seller Party acknowledges that Buyer has the right to perform continuing due diligence reviews with respect to the Seller Parties, the
Purchased Assets and the Contributed Crop Loans, for purposes of verifying compliance with the representations, warranties and specifications and updating Market Value determinations, made hereunder, or otherwise, and Seller agrees that upon
reasonable (but no less than [***] prior written notice unless an Event of Default shall have occurred and be continuing, in 

  
 61 

 
which case no notice is required, to Seller, Buyer or their authorized representatives will be permitted during normal business hours to examine, inspect, and make copies and extracts of, the
Asset Files and any and all documents, data, records, agreements, instruments or information relating to such Purchased Assets or Contributed Crop Loans in the possession or under the control of the Seller Parties and/or the Guarantor. Each Seller
Party also shall make available to Buyer a knowledgeable financial or accounting officer for the purpose of answering questions respecting the Asset Files, the Purchased Assets and the Contributed Crop Loans. Without limiting the generality of the
foregoing, each Seller Party acknowledges that Buyer may purchase Purchased Assets (and related Contributed Crop Loans) from Seller Parties based solely upon the information provided by Seller Parties to Buyer in the Asset Tape and the
representations, warranties and covenants contained herein, and that Buyer, at its option, have the right at any time to conduct a partial or complete due diligence review on some or all of the Purchased Assets and the Contributed Crop Loans
purchased in a Transaction, including, without limitation, new credit reports and otherwise re-generating the information used to originate such Contributed Crop Loans and reviewing intercreditor agreements,
property management agreements, formation documents of the property owners and their direct and indirect owners, financial statements, environmental and engineering reports, underlying title policies including owner’s and UCC-9 title insurance policies, legal opinions and other documents as may be mutually agreed between Seller and Buyer. Buyer may underwrite such Contributed Crop Loans itself or engage a mutually agreed upon third
party underwriter to perform such underwriting. Seller Parties agree to cooperate with Buyer and any third party underwriter in connection with such underwriting, including, but not limited to, providing Buyer and any third party underwriter with
access to any and all documents, records, agreements, instruments or information relating to such Purchased Assets and Contributed Crop Loans in the possession, or under the control, of Seller Parties. Each Seller Party further agrees that each
Seller Party shall pay all out-of-pocket costs and expenses incurred by Buyer in connection with Buyer’s activities pursuant to this
Section 32. 
 33. Authorizations 

Any of the persons whose signatures and titles appear on Schedule 2 are authorized, acting singly, to act for Seller
Parties or Buyer to the extent set forth therein, as the case may be, under this Agreement. The Seller Parties may amend Schedule 2 from time to time by delivering a revised Schedule 2 to Buyer and expressly stating that such revised
Schedule 2 shall replace the existing Schedule 2. 
 34. Documents Mutually Drafted 

The Seller Parties and the Buyer agree that this Agreement and each other Transaction Document prepared in connection with the Transactions set
forth herein have been mutually drafted and negotiated by each party, and consequently such documents shall not be construed against either party as the drafter thereof. 

35. General Interpretive Principles 

For purposes of this Agreement, except as otherwise expressly provided or unless the context otherwise requires: 

a. the terms defined in this Agreement have the meanings assigned to them in this Agreement and include the plural as well as the singular, and
the use of any gender herein shall be deemed to include the other gender; 
 b. accounting terms not otherwise defined herein have the
meanings assigned to them in accordance with GAAP; 

  
 62 

 c. references herein to “Articles”, “Sections”, “Subsections”,
“Paragraphs”, and other subdivisions without reference to a document are to designated Articles, Sections, Subsections, Paragraphs and other subdivisions of this Agreement; 

d. a reference to a Subsection without further reference to a Section is a reference to such Subsection as contained in the same Section in
which the reference appears, and this rule shall also apply to Paragraphs and other subdivisions; 
 e. the words “herein”,
“hereof”, “hereunder” and other words of similar import refer to this Agreement as a whole and not to any particular provision; 

f. the term “include” or “including” shall mean without limitation by reason of enumeration; 

g. all times specified herein or in any other Transaction Document (unless expressly specified otherwise) are local times in New York, New York
unless otherwise stated; and 
 h. all references herein or in any Transaction Document to “good faith” means good faith as defined
in Section 1-201(b)(20) of the UCC as in effect in the State of New York. 
 36. Specific
Performance 
 Without limiting the rights of Buyer hereto to pursue all other legal and equitable rights available to Buyer for each
Seller Party’s or Guarantor’s failure to perform its obligations under this Agreement, each Seller Party and Guarantor acknowledges and agrees that the remedy at law for any failure to perform obligations hereunder would be inadequate and
Buyer shall be entitled to specific performance, injunctive relief, or other equitable remedies in the event of any such failure. The availability of these remedies shall not prohibit Buyer from pursuing any other remedies for such breach, including
the recovery of monetary damages. 
 37. Conflicts 

In the event of any conflict between the terms of this Agreement and any other Transaction Document, the documents shall control in the
following order of priority: first, the terms of the Transaction Request and Confirmation shall prevail, then the terms of this Agreement shall prevail, and then the terms of the other Transaction Documents shall prevail. 

38. Amendments 
 No
amendment or waiver of any provision of this Agreement nor consent to any departure herefrom shall in any event be effective unless the same shall be in writing and signed by all the parties hereto, and then such amendment, waiver or consent shall
be effective only in the specific instance and for the specific purpose for which given. No amendment that affects the rights, preferences, privileges, indemnities or immunities of the Trustee shall be effective without its prior written consent. In
addition, no amendment to the provisions set forth in Section 8 shall be effective unless signed by the parties hereto, Master Servicer, Trustee, Certificate Registrar and Custodian. 

  
 63 

 39. Joint and Several 

Seller Parties and Buyer hereby acknowledge and agree that Seller Parties are each jointly and severally liable to Buyer for all of their
respective Obligations hereunder. Accordingly, each Seller Party waives any and all notice of creation, renewal, extension or accrual of any of the Obligations and notice of or proof of reliance by Buyer upon such Seller Party’s joint and
several liability. Each Seller Party waives diligence, presentment, protest, demand for payment and notice of default or nonpayment to or upon such Seller Party with respect to the Obligations. When pursuing its rights and remedies hereunder against
any Seller Party, Buyer may, but shall be under no obligation to, pursue such rights and remedies hereunder against any Seller Party or against any collateral security for the Obligations or any right of offset with respect thereto, and any failure
by Buyer to pursue such other rights or remedies or to collect any payments from such Seller Party to realize upon any such collateral security or to exercise any such right of offset, or any release of such Seller Party or any such collateral
security, or right of offset, shall not relieve such Seller Party of any liability hereunder, and shall not impair or affect the rights and remedies, whether express, implied or available as a matter of law, of Buyer against such Seller Party. 

40. Third Party Beneficiary 

Nothing in this Agreement, whether expressed or implied, will confer on any Person, other than the parties hereto, their Affiliates or their
permitted successors and assigns, any legal or equitable rights, remedies or liabilities; provided, however, that the Master Servicer, Trustee, Certificate Registrar and the Custodian are intended third party beneficiaries solely with respect to
Section 8 and Section 38 hereof and shall be entitled to enforce the provisions of Section 8 and Section 38 as if they were a party hereto. 

41. Trustee Not Acting in Individual Capacity 

It is expressly understood by the parties hereto, and any person claiming by or through such parties, that the representations, warranties,
covenants and obligations (including payment and indemnification obligations) of the Trust Subsidiary herein are solely the obligations of the Trust Subsidiary, for which recourse shall be limited solely to the assets of the Trust Subsidiary, and no
recourse may be taken, directly or indirectly, with respect to such representations, warranties, covenants or obligations of the Trust Subsidiary set forth in this Agreement or any certificate or other writing delivered in connection herewith or
therewith, against the Trustee or any of their respective officers, directors, employees, agents, successors or assigns. 
 Pursuant to
authority granted under the Trust Agreement, the rights, duties and obligations of the Trust Subsidiary hereunder may be exercised and performed by Administrator or other agents on behalf of the Trust Subsidiary and under no circumstances shall the
Trustee have any duty or obligation to monitor, supervise, exercise or perform the rights, duties or obligations of the Trust Subsidiary or the Administrator or other agents hereunder or under any related agreement. 

With respect to any action to be taken by the Trust Subsidiary hereunder that is not specific with regards to which party shall act for the
Trust, the Trustee shall not be required to take any action without its receipt of proper direction under the Trust Agreement, and if necessary, satisfactory indemnity. In executing the Agreement on behalf of the Trust and in taking any action
hereunder, the Trustee shall be entitled to the rights, benefits, protections, indemnities and immunities afforded to it in the Trust Agreement. 

[Signature Pages Follow] 

  
 64 

 IN WITNESS WHEREOF, the undersigned have caused this Agreement to be duly executed as of the
date first above written. 
  

			
	NATIONAL FOUNDERS LP,
	as Buyer
		
	By:	 	 /s/ Brett M. Samsky

		 	Name: Brett M. Samsky
		 	Title: CEO

 Signature Page to Master Repurchase Agreement ([***]/FarmOp) 

			
	FACO CROP LOANS LLC, as Seller
		
	By:	 	 /s/ Robert Conway

	        Name: Robert Conway
	        Title: Treasurer
	
	FACO CROP LOAN FINANCING TRUST C1, as Trust Subsidiary
	
	By: FACO Crop Loans LLC, as its Administrator
		
	By:	 	 /s/ Robert Conway

	        Name: Robert Conway
	        Title: Treasurer

 Signature Page to Master Repurchase Agreement ([***]/FarmOp) 

 SCHEDULE 1A 

REPRESENTATIONS AND WARRANTIES 

WITH RESPECT TO CONTRIBUTED CROP LOANS 

Each Seller Party represents and warrants to Buyer, with respect to each Contributed Crop Loan, that as of the Purchase Date and as of each
date while the Transaction Documents and the related Transaction hereunder is in full force and effect, the following are true and correct in all material respects. With respect to those representations and warranties which are made to the knowledge
of a Seller Party or to the best of a Seller Party’s knowledge or if there is any limitation as to the scope any representation by a knowledge qualifier, if it is discovered by either Seller Party or Buyer that the substance of such
representation and warranty is inaccurate, notwithstanding the lack of knowledge with respect to the substance of such representation and warranty, such inaccuracy shall be deemed a breach of the applicable representation and warranty. 

(a) Underwriting Guidelines and Originator. Unless approved by Buyer in its sole discretion, the Contributed Crop Loan was originated in
accordance with the Underwriting Guidelines by an Approved Originator. 
 (b) Approved State. The Contributed Crop Loan was originated
in an Approved State. 
 (c) Crop. The underlying Crop for the Contributed Crop Loan is a Crop approved pursuant to the Underwriting
Guidelines. 
 (d) Minimum Loan Amount. Unless otherwise approved by Buyer in its sole discretion, the Contributed Crop Loan does not
have a principal loan amount that is less than [***]. 
 (e) Maximum Maturity Date. The Contributed Crop Loan does not have a maturity
date that is (i) greater than [***] calendar months from the Purchase Price Increase Date with respect to such Contributed Crop Loan or (ii) after the Termination Date. 

(f) Payments Current. All payments required to be made under the terms of the Crop Loan Documents for such Contributed Crop Loan have
been made and credited. No payment required under the Contributed Crop Loan is delinquent nor has any payment under the Contributed Crop Loan been delinquent at any time since the origination of the Contributed Crop Loan. 

(g) Interest Rate. The Contributed Crop Loan incurs interest at a fixed rate. 

(h) Original Terms Unmodified. To the knowledge of each Seller Party, the terms of the Crop Loan Documents for the Contributed Crop have
not been impaired, waived, altered or modified in any respect, from the date of origination; except by a written agreement which has been delivered to the Custodian and the terms of which are reflected in the Asset Tape and is in compliance with
Accepted Servicing Practices or the Underwriting Guidelines or otherwise approved by Buyer in its sole discretion. 
 (i) Compliance with
Applicable Laws. Any and all requirements of any federal, state and local laws, rules and regulations, including, without limitation and to the extent applicable, usury, and any other consumer credit, equal opportunity and disclosure laws
applicable to such Contributed Crop Loan, have been, and as of the Effective Date or the date of each Crop Loan Advance, as applicable, continue to be, complied with in all material respects; and the consummation of the Transactions contemplated by
the Seller and the Trust Subsidiary pursuant to the Agreement will not involve the violation of any such laws, rules and regulations. 

  
 Schedule 1A-1 

 (j) Validity of Crop Loan Documents. The Crop Loan Note and the other Crop Loan
Documents for the Contributed Crop Loan were executed and delivered by an Obligor or guarantor, if applicable, in connection with a Contributed Crop Loan are genuine, and each is in full force and effect and constitutes the legal, valid and binding
obligation of the maker thereof, enforceable in accordance with its terms, subject to applicable bankruptcy, insolvency and similar laws affecting creditors’ rights generally and subject, as to enforceability, to general principles of equity
(regardless of whether enforcement is sought in a proceeding in equity or at law). All parties to the Crop Loan Note and the other Crop Loan Documents for such Contributed Crop Loan had legal capacity to enter into the Contributed Crop Loan and to
execute and deliver the related Crop Loan Note and the other Crop Loan Documents, and the Crop Loan Note and the other Crop Loan Documents have been duly and properly executed by such related parties. No fraud, error, omission, misrepresentation or
gross negligence with respect to the Contributed Crop Loan has taken place on the part of any Obligor or any other party involved in the origination of the Contributed Crop Loan. Seller Parties reviewed all of the documents constituting the Asset
File and have made such inquiries as they deem necessary to make and confirm the accuracy of the representations set forth herein. 
 (k)
Ownership. Seller has full right to sell the Contributed Crop Loan to the Trust Subsidiary and the Trust Subsidiary has the full right to grant a security interest in the Contributed Crop Loan to the Buyer, in each case, free and clear of any
encumbrance, equity, participation interest, lien, pledge, charge, claim or security interest, and has full right and authority subject to no interest or participation of, or agreement with, any other party and the Contributed Crop Loan is free and
clear of any encumbrance, equity, participation interest, lien, pledge, charge, claim or security interest except any such security interest created pursuant to the terms of this Agreement. 

(l) Doing Business. Except with respect to Buyer, all parties which have had any interest in the Contributed Crop Loan, whether as
secured party, assignee, pledgee or otherwise, are (or, during the period in which they held and disposed of such interest, were) (i) in compliance with any and all applicable licensing requirements of the laws of the state wherein the
Contributed Crop Loan was originated in all material respects, and (ii) either (A) organized under the laws of such state, (B) qualified to do business in such state, (C) a federal savings and loan association, a savings bank or
a national bank having a principal office in such state, or (D) not doing business in such state. 
 (m) No Defaults; No Waivers.
There is no default, breach, violation or event of acceleration existing under the Crop Loan Note or other Crop Loan Documents and no event has occurred which, with the passage of time or with notice and the expiration of any grace or cure period,
would constitute a default, breach, violation or event of acceleration, and none of Seller, Trust Subsidiary nor their predecessors have waived any default, breach, violation or event of acceleration; and none of Seller, Trust Subsidiary nor their
Affiliates nor any of their respective predecessors, have waived any default, breach, violation or event which would permit acceleration. 

(n) No Statutory Liens. No Obligor has created, incurred, assumed or suffered to exist, any carriers’, warehousemen’s,
mechanics’, materialmen’s, repairmen’s, agricultural workers’ or other like Liens upon any of its property, assets or revenues, whether now owned or hereafter acquired or any purchase money liens or purchase money security
interests upon or in any property acquired or held by Obligor, except as permitted by the Crop Loan Documents. 

  
 Schedule 1A-2 

 (o) Collection Practices; Escrow Deposits. The origination and collection practices
used by the Approved Originator, Seller Parties, Master Servicer and Subservicer with respect to the Contributed Crop Loan have been in all respects in compliance with Accepted Servicing Practices. With respect to escrow deposits and escrow
payments, all such payments are in the possession of, or under the control of, Seller Parties and there exist no deficiencies in connection therewith for which customary arrangements for repayment thereof have not been made. 

(p) Origination Date. The Purchase Date is at least [***] following the origination date of such Contributed Crop Loan. 

(q) Bona Fide Loan. Such Contributed Crop Loan (i) arose from a bona fide loan, materially complying with all applicable State and
Federal laws and regulations is not subject to any right of rescission, cancellation, defense (including the defense of usury), set-off or counterclaim, and the operation of any of the terms of any contract,
or the exercise of any right thereunder, will not render such Contributed Crop Loan unenforceable in whole or in part or subject to any right of rescission, cancellation, defense (including the defense of usury),
set-off or counterclaim, and no Seller Party has received written notice of the assertion of right of rescission, cancellation, defense (including the defense of usury),
set-off or counterclaim. The proceeds of the Contributed Crop Loan have been advanced to the Obligor or to third parties at Obligor’s direction. 

(r) Other Encumbrances. To the best of each Seller Party’s knowledge, any property subject to any security interest given in
connection with such Contributed Crop Loan is not subject to any other encumbrances other than the lien of the Buyer, Permitted Liens or as permitted by the Crop Loan Documents. 

(s) Description. The Contributed Crop Loan conforms to the description thereof as set forth on the related Asset Tape delivered to the
Custodian and Buyer. 
 (t) Obligor’s Representations. To the best of Seller Party’s knowledge, all of the representations
and warranties included in the related loan and security agreement are true and correct as of the Purchase Date. 
 (u) Good Farming
Practices. To the best of Seller Party’s knowledge, the Obligor has engaged in “good farming practices” as defined by the RMA and more particularly described in the “Good Farming Practice Determination Standards
Handbook”. 
 (v) Insurable Crop. Each Crop is grown on insurable acreage in a county for which a method of establishing
insurance yields/guarantees and premium rates has been established for the Crop in order for Crop Insurance to attach. 
 (w) Insurable
Obligor. Each Obligor (1) has an insurable interest in an agricultural commodity, (2) has not been determined ineligible to participate in the Federal Crop Insurance Program, and (3) possesses a United States issued SSN or
Employer Identification Number, as defined and required under Section 6109 of the Internal Revenue Code of 1986, as amended. 
 (x)
Crop Insurance Policy. The Crops underlying the Contributed Crop Loan (i) are subject to an enforceable and valid Crop Insurance Policy that: (1) covers an agricultural commodity authorized to be insured under the Federal Crop
Insurance Act, (2) is approved for sales by Federal Crop Insurance Corporation, (3) contains terms and conditions in effect as of the applicable contract change date, (4) is sold and serviced in accordance with the Federal Crop
Insurance Act, Federal Crop Insurance Corporation regulations, Federal Crop Insurance Corporation procedures, and the standard reinsurance agreement, (5) has a sales closing date within the reinsurance year and (6) is issued by an Approved
Insurance Provider or (ii) were previously subject to a Crop Insurance Policy which met the requirements of clause (i) above and the related insurance period has expired (as defined in the related Crop Insurance Policy). 

  
 Schedule 1A-3 

 (y) Crop Insurance Policy Premiums. Each Obligor has paid in full all premiums due
and payable for any Crop Insurance Policy issued with respect to any Crop Year prior to the then-current Crop Year. 
 (z) Assignments of
Indemnity. Solely as of the date of origination, with respect to the Contributed Crop Loan and the related Crop Insurance Policy, no Assignment of Indemnity contains more than one assignee and/or no more than one Assignment of Indemnity is in
effect. No single Assignment of Indemnity has been cancelled by any Approved Insurance Provider. 
 (aa) Assignment of Indemnity
Payments. Solely as of the date of origination, any indemnity payments made pursuant to an Assignment of Indemnity will be made payable to Servicer, in its capacity as assignee and Master Servicer, and the Obligor, and will not be payable to any
other Person. 
 (bb) Powers of Attorney. With respect to the Contributed Crop Loan, a power of attorney was delivered by Obligor to
the Originator and by the Obligor to the Seller and such power of attorney may be exercised by the successors and assigns of such Seller Party. 

(cc) Notice Submission by Buyer as Assignee. Immediately prior to the transfer of the Contributed Loan to the Trust Subsidiary, Seller
in its capacity assignee pursuant to the Assignment of Indemnity has the right to submit all loss notices or other forms as required by the Crop Insurance Policy. If the Obligor, as the insured, has suffered a loss and fails to file a claim for
indemnity within the time period specified in the Crop Insurance Policy, Seller, in its capacity as assignee, pursuant to the Assignment of Indemnity has the right to submit the claim for indemnity under the applicable the Crop Insurance Policy.

 (dd) Duplicate Policies. No duplicate policies, including without limitation, more than one Crop Insurance Policy for the same
acreage is in force and effect unless each such policy (i) has been assigned to Buyer, and (ii) (x) does not violate and is otherwise in compliance with any and all requirements of any federal, state and local laws, rules and regulations
applicable to the Crop Insurance Policy and (y) does not have a material adverse effect on any Crop Insurance Policy. 
 (ee)
Delinquent Debt. No Obligor has any debt due and owing to the Federal Crop Insurance Corporation or an Approved Insurance Provider. 

(ff) Disqualification, Suspension, or Debarment. No Obligor has been and continues to be disqualified under section 515(h) of the
Federal Crop Insurance Act, or has been debarred or suspended under 7 CFR Part 400, Subpart R, 2 CFR Part 180 or 2 CFR Part 417, or successor regulations. 

(gg) Conviction-Controlled Substance. No Obligor has been convicted under federal or state law of planting, cultivating, growing,
producing, harvesting, or storing a controlled substance in the four immediately preceding, consecutive Crop Years in accordance with the Food Security Act of 1985, as amended. 

(hh) Landlord/Tenant. No landlord has a separate Crop Insurance Policy for the same acreage associated with any Contributed Crop Loan.
To the extent the Obligor is a tenant, it is a party to a valid and enforceable lease with the landlord, no default exists under such lease and no eviction proceedings exist. 

  
 Schedule 1A-4 

 (ii) Farm Production Loan. Each Contributed Crop Loan is a farm production loan for
the purpose of financing Obligor’s farm production costs for the then-current Crop Year. 
 (jj) Excluded Parties List. No
Obligor is named on that certain list maintained by the General Services Administration, or successor thereto, which provides a source of exclusion records identifying those parties excluded from receiving federal contracts, certain subcontracts and
from certain types of federal financial and non-financial assistance and benefits. 
 (kk)
Anti-money laundering. Each Seller Party has complied in all material respects with all applicable anti-money laundering laws and regulations, including without limitation the USA Patriot Act of 2001 with respect to the origination of the
Contributed Crop Loans. 
 (ll) Sources and Uses. Each Obligor has delivered a sources and uses schedule which has been verified by
the Seller Parties. 
 (mm) Nature of Crop Loans. The Crop Loan Note and the other Crop Loan Documents related to the Contributed Crop
Loan executed in connection therewith have been fully and properly executed or electronically authenticated by the Obligor thereto. The Crop Loan was originated in the United States and denominated in Dollars, is not secured by real estate. As of
the date of each Crop Loan Advance, the Contributed Crop Loan is secured by a validly perfected security interest in the related Seller Repurchase Assets in favor of a Seller Party, as secured party, or all necessary actions have been commenced that
would result in a first priority perfected security interest in such related underlying collateral in favor of a Seller Party, as secured party, and is prior to all other Liens (other than Permitted Liens). 

(nn) Full Force and Effect. The Contributed Crop Loan has not been satisfied, subordinated or rescinded nor has the underlying
collateral, if any, securing the related Contributed Crop Loan been released from the lien of such Contributed Crop Loan in whole or in part, and no Seller Party has done anything to impair the rights of the Buyer with regard to such Contributed
Crop Loan. 
 (oo) No Government Obligor. The Obligor for such Contributed Crop Loan is not the United States or any state or local
government, or any agency, department, political subdivision or instrumentality of the United States or any state or local government. 

(pp) Good Title. As of the related date of each Crop Loan Advance, the Contributed Crop Loan has not been sold, transferred, assigned,
conveyed or pledged to any Person other than pursuant to the Trust Agreement. As of the related date of each Crop Loan Advance, the applicable Seller Party had good and marketable title to and was the sole owner of such related Contributed Crop Loan
free and clear of all Liens (except any Lien which will be released prior to the pledge of such Contributed Crop Loan hereunder and any Permitted Liens). 

(qq) Filings. All filings (including Uniform Commercial Code financing statements) necessary in any jurisdiction to give the Seller a
validly perfected ownership interest in the Contributed Crop Loans, and to give the Buyer a security interest therein, will be made on the Effective Date. 

(rr) Priority. The Contributed Crop Loan has not been pledged, assigned, sold, made subject to a security interest, or otherwise
conveyed other than pursuant to the Transaction Documents. No Seller Party has authorized the filing of and there are no financing statements against any Seller Party that include a description of collateral covering the Contributed Crop Loan other
than any financing statement relating to security interests granted under the Transaction Documents, unless otherwise subordinated, or that have been or, prior to the conveyance of such Contributed Crop Loan hereunder, will be terminated, amended or
released. The Transaction Documents create a valid and continuing security interest in the Contributed Crop Loan in favor of the Buyer which security interest is prior to all other Liens (other than Permitted Liens) and is enforceable as such
against all other creditors of and purchasers and assignees from Seller. 

  
 Schedule 1A-5 

 (ss) UCC Characterization of Crop Loan Notes. Each Crop Loan Note constitutes an
“instrument” or “general intangible” as defined in the UCC. 
 (tt) Asset File. As of the date of each Crop Loan
Advance, the Custodian is holding the related Asset File for the benefit of Buyer, and the related Loan File as defined in the Servicing Agreement, and related documentation are maintained by the Master Servicer or any Subservicer on behalf of the
Obligor for the benefit of the Buyer. 
 (uu) Security Agreement and Assignment of Hedging Account. The Obligor under the Contributed
Crop Loan has entered into one or a combination of Hedging Agreements that equal a hedge value greater than or equal to the principal amount of the Contributed Crop Loan. The Obligor granted a security interest in and assigned to Seller (and its
successors and assigns) all hedging funds that may exist in any hedging account maintained at the Broker pursuant to the terms of each Security Agreement and Assignment of Hedging Account and each Obligor has granted to Seller (and its successors
and assigns) an irrevocable power of attorney to effectuate transactions in connection with the Security Agreement and Assignment of Hedging Account. 

(vv) Property and Casualty Insurance. The Crops underlying the Contributed Crop Loan are subject to enforceable and valid property and
casualty policies that specifically relate to grain in storage and farm related machinery and equipment and, in each case, such policies name an Approved Originator as loss payee/additional insured, as applicable. Each Obligor has paid in full all
premiums due and payable for any such property and casualty 
  

  
 Schedule 1A-6 

 SCHEDULE 1B 

REPRESENTATIONS AND WARRANTIES 

WITH RESPECT TO TRUST SUBSIDIARY INTERESTS 

Each Seller Party represents and warrants to Buyer, with respect to each Trust Subsidiary Interest, that as of the Purchase Date and as of
each date while the Transaction Documents and the related Transaction hereunder is in full force and effect, the following are true and correct in all material respects. With respect to those representations and warranties which are made to the
knowledge of a Seller Party or to the best of a Seller Party’s knowledge or if there is any limitation as to the scope any representation by a knowledge qualifier, if it is discovered by either Seller Party or Buyer that the substance of such
representation and warranty is inaccurate, notwithstanding the lack of knowledge with respect to the substance of such representation and warranty, such inaccuracy shall be deemed a breach of the applicable representation and warranty. 

(a) Trust Subsidiary Interest. The Trust Subsidiary Interests constitute all the issued and outstanding trust interests of all classes
of the Trust Subsidiary Interests. Seller shall not issue certificates representing the Trust Subsidiary Interests or issue any additional trust interest other than the Trust Subsidiary Interests. 

(b) Duly and Validly Issued. All of the shares of the Trust Subsidiary Interests have been duly and validly issued and, if Capital Stock
of a trust, are fully paid and nonassessable. 
 (c) Securities. None of the Trust Subsidiary Interests are dealt in or traded on
securities exchanges or in securities markets. 
 (d) Good and Marketable Title. Immediately prior to the sale, transfer and
assignment to Buyer thereof, Seller has good and marketable title to, and is the sole owner and holder of, the Trust Subsidiary Interests, and Seller is transferring the Trust Subsidiary Interests free and clear of any and all liens, pledges,
encumbrances, charges, security interests or any other ownership interests of any nature encumbering the Trust Subsidiary Interest. Upon consummation of the purchase by Buyer contemplated to occur in respect of the Trust Subsidiary Interest, Seller
will have validly and effectively conveyed to Buyer all legal and beneficial interest in and to the Trust Subsidiary Interest free and clear of any pledge, Lien, encumbrance or security interest and upon Buyer obtaining “control” (as
defined in the UCC) of the certificated Trust Subsidiary Interest, the Lien granted pursuant to this Agreement will constitute a valid, perfected first priority Lien on the Trust Subsidiary Interest in favor of Buyer enforceable as such against all
creditors of Seller and any Persons purporting to purchase the Trust Subsidiary Interest from Seller. 
 (e) Consents and Approvals.
Other than consents and approvals obtained as of the related Purchase Date or those already granted in the documents governing the Trust Subsidiary Interests, no consent or approval by any Person (other than Buyer and its Affiliates) is required in
connection with Seller’s sale of the Trust Subsidiary Interests, for Buyer’s exercise of any rights or remedies in respect of the Trust Subsidiary Interests (other than consent and approvals pertaining to (x) matters solely related to
Buyer’s structure or (y) regulations imposed on Buyer) or for Buyer’s sale, pledge or other disposition of the Trust Subsidiary Interests. No third party holds any “right of first refusal”, “right of first
negotiation”, “right of first offer”, purchase option, or other similar rights of any kind, and no other impediment exists to any such transfer or exercise of rights or remedies with respect to the Trust Subsidiary Interests. 

(f) No Waiver. No Seller Party has waived or agreed to any waiver under, or agreed to any amendment or other modification of, the Trust
Subsidiary Agreement. 

  
 Schedule 1B-1 

 (g) Compliance with Law. Each Trust Subsidiary Interest complies in all material
respects with, or is exempt from, all applicable requirements of federal, state or local law relating to the Trust Subsidiary Interest. 

(h) No Fraud. No fraudulent acts were committed by any Seller Party or any of their respective Subsidiaries in connection with the
issuance of the Trust Subsidiary Interests. 
 (i) No Defaults. No (i) monetary default, breach or violation exists with respect
to any agreement or other document governing the Trust Subsidiary Interests or to which the Trust Subsidiary Interests are subject, or (ii) non-monetary default, breach or violation exists with respect to
any agreement or other document governing the Trust Subsidiary Interests or to which the Trust Subsidiary Interests are subject. 
 (j) No
Modifications. No Seller Party is a party to any document, instrument or agreement, and there is no document, that by its terms modifies or affects the rights and obligations of any holder of the Trust Subsidiary Interests and Seller has not
consented to any material change or waiver to any term or provision of any such document, instrument or agreement and no such change or waiver exists. 

(k) Power and Authority. Seller has full right, power and authority to sell and assign the Trust Subsidiary Interests and the Trust
Subsidiary Interests have not been cancelled, satisfied or rescinded in whole or part nor has any instrument been executed that would effect a cancellation, satisfaction or rescission thereof. 

(l) No Governmental Approvals. No consent, approval, authorization or order of, or registration or filing with, or notice to, any court
or governmental agency or body having jurisdiction or regulatory authority over any Seller Party is required for any transfer or assignment by the holder of the Trust Subsidiary Interests to the Buyer. 

(m) Original Certificates. Seller has delivered to Buyer (or its designee) the original Trust Subsidiary Interests and they have been re-registered in the name of the Buyer. 

  
 Schedule 1B-2 

 SCHEDULE 2 

AUTHORIZED REPRESENTATIVES 
 SELLER
PARTY NOTICES 
  

			
	Name: FACO Crop Loans LLC, FACo Crop Loan Financing Trust C1	  	 Address: c/o Finance of America Holdings LLC

909 Lake Carolyn Parkway, Suite 1550
 Irving, TX 75039

Attention: General Counsel
 Email: [***]

 SELLER PARTY AUTHORIZATIONS 

Any of the persons whose signatures and titles appear below are authorized, acting singly, to act for Seller under this Agreement: 

 

					
	 Name
	  	 Title
	  	 Signature

	[***]	  	[***]	  	
			
	[***]	  	[***]	  	
			
	[***]	  	[***]	  	
			
	[***]	  	[***]	  	
			
	[***]	  	[***]	  	

  
 Authorized
Representatives to Master Repurchase Agreement 

 BUYER NOTICES 
  

			
	Name:         National Founders LP	  	 Address:        National Founders LP

                      P.O. Box 1073

                      Wilmington, DE 19899

                      Attn: General Counsel

                     
 E-mail: [***]

 BUYER AUTHORIZATIONS 

Any of the persons whose signatures and titles appear below, including any other authorized officers, are authorized, acting singly, to act for Buyer under
this Agreement: 
  

					
	 Name
	  	 Title
	  	 Signature

	[***]	  	[***]	  	
			
	[***]	  	[***]	  	
			
	[***]	  	[***]	  	

  
 Authorized
Representatives to Master Repurchase Agreement 

 EXHIBIT A 

FORM OF TRANSACTION REQUEST AND CONFIRMATION 

______, 20[__] 
 National Founders
LP 
 [***] 
 [***] 

Attn: General Counsel 

E-mail: [***] 
 With copy
to: 
 [***] 
 [***] 

[***] 
 Attn: General Counsel 

E-mail: [***] 

Ladies/Gentlemen: 
 This letter is a request for
you to remit a Purchase Price Increase in respect of the Crop Loans listed in Appendix I hereto, pursuant to the Master Repurchase Agreement, dated as of March 18, 2020 (as amended, restated, supplemented or otherwise modified from time to
time, the “Agreement”) by and among National Founders LP (“Buyer”), FACO Crop Loans LLC, a Delaware limited liability company, as seller (“Seller”), and FACo Crop Loan Financing Trust C1, a Delaware
statutory trust, as trust subsidiary (“Trust Subsidiary”) as follows: 
 Requested Purchase Date/Purchase Price Increase
Date: 
 Eligible Crop Loans requested to be subject to Transactions: See Appendix I hereto. 

[Annex I to Transaction Request will be an Asset Schedule] 

Aggregate principal amount of Eligible Crop Loans requested to be purchased: 

Purchase Price/Purchase Price Increase: 

Repurchase Date/Release Date: 

Purchase Price Percentage: 

Names and addresses for communications: 

Buyer: as set forth above 

Seller: 
 FACO Crop Loans LLC

 c/o Finance of America Holdings LLC 

909 Lake Carolyn Parkway, Suite 1550 

Irving, TX 75039 
 Attention:
General Counsel 
 Email: [***] 

  
 A-3 

 This Transaction Request and Confirmation constitutes certification by Seller that: 

 

	 	1.	 No Default or Event of Default has occurred and is continuing on the date hereof nor will occur after giving
effect to such Transaction as a result of such Transaction. 

  

	 	2.	 Each of the conditions precedent set forth in Section 10(b) with respect to the Transaction has been
satisfied or waived in writing by Buyer. 

  

	 	3.	 Each of the representations and warranties made by each Seller Party and Guarantor in or pursuant to the
Agreement is true and correct in all material respects on and as of such date and as of the date hereof (or, if any such representation or warranty is expressly stated to have been made as of a specific date, as of such specific date).

  

	 	4.	 Each Seller Party and Guarantor is in compliance with all governmental licenses and authorizations in all
material respects and is qualified to do business and is in good standing in all required jurisdictions. 

  

	 	5.	 As of the Purchase Date and/or Purchase Price Increase Date, the security interests in the Crop Loans
identified on Annex I hereto comprise all security interests relating to or affecting any and all such Crop Loans. Each Seller Party warrants that, as of such time, there are and will be no other security interests affecting any or all such Crop
Loans. 

 All capitalized terms used herein shall have the meaning assigned thereto in the Agreement. 

 

			
	FACO CROP LOANS LLC
		
	By:	 	  

	Name:	 	
	Title:	 	

 Authorized Representatives to Master Repurchase Agreement 

 Annex 1 to Exhibit A 

FORM OF ASSET TAPE 
 Loan Number 

Obligor Name 
 Data As of Date 

Original Disbursed (Original UPB) 
 2nd Disbursed Amount (2nd UPB)

 3rd Disbursed Amount (3rd UPB) 
 Current Disbursed Amount
(UPB) 
 Loan Face Amount (Prin Limit) 
 Product 

Funding Date 
 2nd Funding Date 

3rd Funding Date 
 Street 

City 
 State 

Loan Maturity Date 
 Loan Term in Months 

Interest Rate 
 Crop 1 

Crop 2 
 Crop 3 

Crop 4 
 Crop 5 

Crop 6 
 Crop 7 

Crop 8 
 Crop 1 Acreage 

Crop 2 Acreage 
 Crop 3 Acreage 

Crop 4 Acreage 
 Crop 5 Acreage 

Crop 1 APH 
 Crop 2 APH 

Crop 3 APH 
 Crop 4 APH 

Crop 5 APH 
 Total Acreage 

Origination Fee 
 Years Experience 

UW Total Revenue 
 UW Total Cost of Production 

UW Projected Operating Margin 
 UW Current Assets 

UW Total Assets 
 UW Current Liabilities, 

  
 Annex 1 to Exhibit A

 UW Total Liabilities, 

UW Owner’s Equity $ 
 UW Working Capital, Current Ratio 

UW Owner’s Equity % 
 UW EBITDA 

UW Total Annual Debt Service 
 UW Total Debt Service Coverage
(Repayment Capacity) 
 FICO 
 Number of Acres Owned 

Number of Acres Rented 
 Total Acres to be Funded 

Insurance Value 
 Total Hedged Value 

Loan to Insured Value (LTIV) 
 Total Repayment to Insured Value

 Loan to Cost (LTC) 
 Total Repayment to Cost 

Loan to Crop Value 
 Total Repayment to Crop Value 

Loan to Hedged Value (LTHV) 
 Total Repayment to Hedged Value 

Applicant’s Owner’s Equity 
 UW Current Ratio 

UW Financeable Equity plus IV 
 UW Total Debt Service Coverage

 UW Margin After Debt Service 
 Years Experience 

Subordinate Lienholder 1 
 Subordinate Lienholder 1 Amount 

Crop Insurance Insurer Name 
 Crop Insurance Policy Number 

P&C Insurer Name 
 P&C Insurance Policy Number 

P&C Insurance Policy Effective Date 
 Counties 

Additional Borrower 1 
 Additional Borrower 2 

Additional Borrower 3 
 Additional Borrower 4 

Additional Borrower 5 
 Additional Borrower 6 

Total Underwritten Crop Value 
 Timing Of Expected Fundings 

Amount Of Expected Funding Disbursements 
 Acreage By County And
State 
 Put Strike 
 Acquired Put Quantity 

Put Purchase Price 
 Put CUSIP 

Put Expiration Date 
 Weighted Average Forward Sale Price 

  
 Annex 1 to Exhibit A

 Weighted Average Forward Sale Date 

Insurance Premium 
 AIP 

Discovery Price 
 Harvest Price 

Actual Amount Harvested by Crop 
 Actual Sale Proceeds by Crop

  

  
 Annex 1 to Exhibit A

 EXHIBIT B 

FORM OF MONTHLY COMPLIANCE CERTIFICATE 

COMPLIANCE CERTIFICATE 
 I, ___________________,
do hereby certify that I am the duly elected, qualified and authorized [CFO/TREASURER/FINANCIAL OFFICER] of FINANCE OF AMERICA COMMERCIAL LLC (“Guarantor”). This Certificate is delivered to you in connection with Section 17(b)
of the Master Repurchase Agreement dated as of March 18, 2020, between FACO CROP LOANS LLC, FACO CROP LOAN FINANCING TRUST C1 and NATIONAL FOUNDERS LP (as amended from time to time, the “Agreement”). Capitalized terms shall
have the meaning set forth in the Agreement. I hereby certify that, as of the date of the financial statements attached hereto and as of the date hereof, Guarantor and the Seller Parties are and have been in compliance with all the terms of the
Agreement and, without limiting the generality of the foregoing, I certify that: 
 Seller Financial Condition Covenants. Seller has
ensured that it has at all times complied with the covenants set forth in Section 14(y) of the Agreement. Attached as Schedule 1 hereto are the calculations demonstrating compliance with such financial covenant. 

Guarantor Financial Condition Covenants. Guarantor has ensured that it has at all times complied with the covenants set forth in
Section 10(i) of the Guaranty. Attached as Schedule 2 hereto are the calculations demonstrating compliance with such financial covenants. 

No Default. No Default has occurred during the period covered by the audited or unaudited financial statements attached hereto as
Schedule 3, in each case expect as specified in Schedule 4 hereto. 
 IN WITNESS WHEREOF, I have set my hand this __ day of __________ 20__. 

 

			
	[____________________________________]

 
			
		
	By:	 	 
	 Name:
	 	
	Title:	 	

  
 Exhibit B-1 

 SCHEDULE 1 TO 

OFFICER’S COMPLIANCE CERTIFICATE 

CALCULATIONS OF SELLER FINANCIAL COVENANTS 

As of the month ended [DATE] 

  
 Exhibit B-2 

 SCHEDULE 2 TO 

OFFICER’S COMPLIANCE CERTIFICATE 

CALCULATIONS OF GUARANTOR FINANCIAL COVENANTS 

As of the month ended [DATE] 

  
 Exhibit B-3 

 SCHEDULE 3 TO 

OFFICER’S COMPLIANCE CERTIFICATE 

FINANCIAL STATEMENTS 

  
 Exhibit B-4 

 SCHEDULE 4 TO 

OFFICER’S COMPLIANCE CERTIFICATE 

DEFAULTS 

  
 Exhibit B-5 

 EXHIBIT C-1 

FORM OF POWER OF ATTORNEY (SELLER) 

KNOW ALL MEN BY THESE PRESENTS, that FACO Crop Loans LLC, a Delaware limited liability company (the “Seller”) hereby
irrevocably constitutes and appoints National Founders LP (“Buyer”), and any officer or agent thereof, with full power of substitution, as its true and lawful
attorney-in-fact with full irrevocable power and authority in the place and stead of Seller and in the name of Seller, or in its own name, from time to time in
Buyer’s sole discretion: 
 (a) in the name of Seller, or in its own name, or otherwise, to take possession of and indorse and collect
any checks, drafts, notes, acceptances or other instruments for the payment of moneys due with respect to any assets (the “Assets”) purchased by Buyer under the Master Repurchase Agreement, dated as of March 18, 2020 (as
amended, restated, supplemented or otherwise modified from time to time, the “Repurchase Agreement”), among Buyer, Seller, and FACo Crop Loan Financing Trust C1, a Delaware statutory trust and to file any claim or to take any other
action or proceeding in any court of law or equity or otherwise deemed appropriate by Buyer for the purpose of collecting any and all such moneys due with respect to any other assets whenever payable; 

(b) to pay or discharge taxes and liens levied or placed on or threatened against the Assets; 

(c) to direct any party liable for any payment under any Assets (i) to make payment of any and all moneys due or to become due thereunder
directly to Buyer or as Buyer shall direct; (ii) to ask or demand for, collect, receive payment of and receipt for, any and all moneys, claims and other amounts due or to become due at any time in respect of or arising out of any Assets;
(iii) to sign and indorse any invoices, assignments, verifications, notices and other documents in connection with any Assets; (iv) to commence and prosecute any suits, actions or proceedings at law or in equity in any court of competent
jurisdiction to collect the Assets or any proceeds thereof and to enforce any other right in respect of any Assets; (v) to defend any suit, action or proceeding brought against Seller with respect to any Assets; (vi) to settle, compromise
or adjust any suit, action or proceeding described in clause (iv) above and, in connection therewith, to give such discharges or releases as Buyer may deem appropriate; and (vii) generally, to sell, transfer, pledge and make any agreement
with respect to or otherwise deal with any Assets as fully and completely as though Buyer were the absolute owner thereof for all purposes, and to do, at Buyer’s option and Seller’s expense, at any time, and from time to time, all acts and
things which Buyer deems necessary to protect, preserve or realize upon the Assets and Buyer’s Liens thereon and to effect the intent of this Agreement, all as fully and effectively as Seller might do; 

(d) for the purpose of carrying out the transfer of servicing with respect to the Assets from FarmOp Capital, LLC, in its capacity as master
servicer (“Servicer”) and/or KeyBank National Association, in its capacity as subservicer (“Subservicer”) to a successor servicer appointed by Buyer in its sole discretion and to take any and all appropriate action
and to execute any and all documents and instruments which may be necessary or desirable to accomplish such transfer of servicing, and, without limiting the generality of the foregoing, Seller hereby gives Buyer the power and right, on behalf of
Servicer and/or Subservicer, without assent by Seller, to, in the name of Seller or its own name, or otherwise, prepare and send or cause to be sent “good-bye” letters to all Obligors under the
Assets, transferring the servicing of the Assets to a successor servicer appointed by Buyer in its sole discretion; and 
 (e) for the
purpose of delivering any notices of sale to Obligors or other third parties, including without limitation, those required by law. 

  
 Exhibit C-1-1 

 Seller hereby ratifies all that said attorneys shall lawfully do or cause to be done by
virtue hereof. This power of attorney is a power coupled with an interest and shall be irrevocable. 
 Seller also authorizes Buyer, from
time to time, to execute, in connection with any sale, any indorsements, assignments or other instruments of conveyance or transfer with respect to the Assets. 

This Power of Attorney shall be governed by and construed in accordance with the laws of the state of New York, without reference to conflict
of laws principles, except Sections 5-1401 and 5-1402 of the New York General Obligations Law. 

TO INDUCE ANY THIRD PARTY TO ACT HEREUNDER, SELLER HEREBY AGREES THAT ANY THIRD PARTY RECEIVING A DULY EXECUTED COPY OR FACSIMILE OF THIS
INSTRUMENT MAY ACT HEREUNDER, AND THAT REVOCATION OR TERMINATION HEREOF SHALL BE INEFFECTIVE AS TO SUCH THIRD PARTY UNLESS AND UNTIL ACTUAL NOTICE OR KNOWLEDGE OF SUCH REVOCATION OR TERMINATION SHALL HAVE BEEN RECEIVED BY SUCH THIRD PARTY, AND BUYER
ON ITS OWN BEHALF AND ON BEHALF OF BUYER’S ASSIGNS, HEREBY AGREES TO INDEMNIFY AND HOLD HARMLESS ANY SUCH THIRD PARTY FROM AND AGAINST ANY AND ALL CLAIMS THAT MAY ARISE AGAINST SUCH THIRD PARTY BY REASON OF SUCH THIRD PARTY HAVING REASONABLY
RELIED ON THE PROVISIONS OF THIS INSTRUMENT. 
 IN WITNESS WHEREOF, Seller has caused this Power of Attorney to be executed and
Seller’s seal to be affixed this ______ day of _____________, 202_. 
  

			
	FACO CROP LOANS LLC, as Seller
		
	By:	 	  

		 	Name:
		 	Title:

  
 Exhibit C-1-2 

					
	STATE OF	  	)	  	
		  	)	  	ss.:
	COUNTY OF	  	)	  	

 On the ____ day of ______________, 202_ before me, a Notary Public in and for said State, personally appeared
________________________________, known to me to be _____________________________________ of FACO Crop Loans LLC, the institution that executed the within instrument and also known to me to be the person who executed it on behalf of said
institution, and acknowledged to me that such institution executed the within instrument. 
 IN WITNESS WHEREOF, I have hereunto set my hand
affixed my office seal the day and year in this certificate first above written. 
  

	
	  

	Notary Public

 My Commission expires ________________________________ 

  
 Exhibit C-1-3 

 EXHIBIT C-2 

FORM OF POWER OF ATTORNEY (TRUST SUBSIDIARY) 

KNOW ALL MEN BY THESE PRESENTS, that FACo Crop Loan Financing Trust C1, a Delaware statutory trust (the “Trust Subsidiary”)
hereby irrevocably constitutes and appoints National Founders LP (“Buyer”), and any officer or agent thereof, with full power of substitution, as its true and lawful
attorney-in-fact with full irrevocable power and authority in the place and stead of Trust Subsidiary and in the name of Trust Subsidiary, or in its own name, from time
to time in Buyer’s discretion: 
 (a) in the name of Trust Subsidiary, or in its own name, to take possession of and indorse and collect
any checks, drafts, notes, acceptances or other instruments for the payment of moneys due with respect to any assets (the “Assets”) purchased by Buyer under the Master Repurchase Agreement, dated as of March 18, 2020 (as
amended, restated, supplemented or otherwise modified from time to time, the “Repurchase Agreement”), among Buyer, FACO Crop Loans LLC, a Delaware limited liability company (the “Seller”), and Trust Subsidiary, and
to file any claim or to take any other action or proceeding in any court of law or equity or otherwise deemed appropriate by Buyer for the purpose of collecting any and all such moneys due with respect to any other assets whenever payable; 

(b) to pay or discharge taxes and liens levied or placed on or threatened against the Assets; 

(c) to direct any party liable for any payment under any Assets (i) to make payment of any and all moneys due or to become due thereunder
directly to Buyer or as Buyer shall direct; (ii) to ask or demand for, collect, receive payment of and receipt for, any and all moneys, claims and other amounts due or to become due at any time in respect of or arising out of any Assets;
(iii) to sign and indorse any invoices, assignments, verifications, notices and other documents in connection with any Assets; (iv) to commence and prosecute any suits, actions or proceedings at law or in equity in any court of competent
jurisdiction to collect the Assets or any proceeds thereof and to enforce any other right in respect of any Assets; (v) to defend any suit, action or proceeding brought against Trust Subsidiary with respect to any Assets; (vi) to settle,
compromise or adjust any suit, action or proceeding described in clause (iv) above and, in connection therewith, to give such discharges or releases as Buyer may deem appropriate; and (vii) generally, to sell, transfer, pledge and make any
agreement with respect to or otherwise deal with any Assets as fully and completely as though Buyer were the absolute owner thereof for all purposes, and to do, at Buyer’s option and Trust Subsidiary’s expense, at any time, and from time
to time, all acts and things which Buyer deems necessary to protect, preserve or realize upon the Assets and Buyer’s Liens thereon and to effect the intent of this Agreement, all as fully and effectively as Trust Subsidiary might do; 

(d) for the purpose of carrying out the transfer of servicing with respect to the Assets from FarmOp Capital, LLC, in its capacity as master
servicer (“Servicer”) and/or KeyBank National Association, in its capacity as subservicer (“Subservicer”) to a successor servicer appointed by Buyer in its sole discretion and to take any and all appropriate action
and to execute any and all documents and instruments which may be necessary or desirable to accomplish such transfer of servicing, and, without limiting the generality of the foregoing, Trust Subsidiary hereby gives Buyer the power and right, on
behalf of Servicer and/or Subservicer, without assent by Trust Subsidiary, to, in the name of Trust Subsidiary or its own name, prepare and send or cause to be sent “good-bye” letters to all Obligors
under the Assets, transferring the servicing of the Assets to a successor servicer appointed by Buyer in its sole discretion; and 
 (e) for
the purpose of delivering any notices of sale to Obligors or other third parties, including without limitation, those required by law. 

  
 Exhibit C-2-1 

 Notwithstanding anything herein to the contrary, the powers granted herein may only be
executed by such attorney if such actions are required or permitted under the terms of the Repurchase Agreement and no power is granted hereunder to take any action (a) in the name of U.S. Bank Trust National Association, in its capacity as
trustee or in its individual capacity or (b) which to its actual knowledge would be adverse to the interests of U.S. Bank Trust National Association. 

Trust Subsidiary hereby ratifies all that said attorneys shall lawfully do or cause to be done by virtue hereof. This power of attorney is a
power coupled with an interest and shall be irrevocable. 
 Trust Subsidiary also authorizes Buyer, from time to time, to execute, in
connection with any sale, any indorsements, assignments or other instruments of conveyance or transfer with respect to the Assets. 
 This
Power of Attorney shall be governed by and construed in accordance with the laws of the state of New York, without reference to conflict of laws principles, except Sections 5-1401 and 5-1402 of the New York General Obligations Law. 
 TO INDUCE ANY THIRD PARTY TO ACT HEREUNDER, TRUST
SUBSIDIARY HEREBY AGREES THAT ANY THIRD PARTY RECEIVING A DULY EXECUTED COPY OR FACSIMILE OF THIS INSTRUMENT MAY ACT HEREUNDER, AND THAT REVOCATION OR TERMINATION HEREOF SHALL BE INEFFECTIVE AS TO SUCH THIRD PARTY UNLESS AND UNTIL ACTUAL NOTICE OR
KNOWLEDGE OF SUCH REVOCATION OR TERMINATION SHALL HAVE BEEN RECEIVED BY SUCH THIRD PARTY, AND BUYER ON ITS OWN BEHALF AND ON BEHALF OF BUYER’S ASSIGNS, HEREBY AGREES TO INDEMNIFY AND HOLD HARMLESS ANY SUCH THIRD PARTY FROM AND AGAINST ANY AND
ALL CLAIMS THAT MAY ARISE AGAINST SUCH THIRD PARTY BY REASON OF SUCH THIRD PARTY HAVING REASONABLY RELIED ON THE PROVISIONS OF THIS INSTRUMENT. 

IN WITNESS WHEREOF, Trust Subsidiary has caused this Power of Attorney to be executed and Trust Subsidiary’s seal to be affixed this
______ day of _____________, 202_. 
  

			
	 FACO CROP LOAN FINANCING TRUST C1, as Trust Subsidiary

	
	By: FACO Crop Loans LLC, as its Administrator
		
	By:	 	  

		 	Name:
		 	Title:

  
 Exhibit C-2-2 

					
	STATE OF	  	)	  	
		  	)	  	ss.:
	COUNTY OF	  	)	  	

 On the ____ day of ______________, 202_ before me, a Notary Public in and for said State, personally appeared
________________________________, known to me to be _____________________________________ of _____________________________________, the institution that executed the within instrument and also known to me to be the person who executed it on behalf
of said institution, and acknowledged to me that such institution executed the within instrument. 
 IN WITNESS WHEREOF, I have hereunto set
my hand affixed my office seal the day and year in this certificate first above written. 
  

	
	  

	Notary Public

 My Commission expires ________________________________ 

  
 Exhibit C-2-3 

 EXHIBIT D-1 

FORM OF U.S. TAX COMPLIANCE CERTIFICATE 

(For Foreign Buyers That Are Not Partnerships for U.S. Federal Income Tax Purposes) 

Reference is hereby made to the Master Repurchase Agreement, dated as of March 18, 2020 (as amended, restated, supplemented or otherwise
modified from time to time, the “Agreement”), among FACO Crop Loans LLC, a Delaware limited liability company, as seller (“Seller”), FACo Crop Loan Financing Trust C1, a Delaware statutory trust, as the trust subsidiary
(“Trust Subsidiary”) and National Founders LP (the “Buyer”). 
 Pursuant to the provisions of
Section 11(e) of the Agreement, the undersigned hereby certifies that (i) it is the sole record and beneficial owner of the ownership interest in the Transaction(s) in respect of which it is providing this certificate, (ii) it is not
a bank within the meaning of Section 881(c)(3)(A) of the Code, (iii) it is not a [***] shareholder of the Seller within the meaning of Section 871(h)(3)(B) of the Code and (iv) it is not a controlled foreign corporation related
to the Seller as described in Section 881(c)(3)(C) of the Code. 
 The undersigned has furnished the Seller with a certificate of its non-U.S. Person status on IRS Form W-8BEN or IRS Form W-8BEN-E (as applicable). By executing
this certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall promptly so inform the Seller, and (2) the undersigned shall have at all times furnished the Seller with a
properly completed and currently effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the [***] preceding such payments. 

Unless otherwise defined herein, terms defined in the Agreement and used herein shall have the meanings given to them in the Agreement. 

 

			
	[NAME OF BUYER]
		
	By:	 	  

		 	Name:
		 	Title:

 Date: ________ __, 20[ ] 

  
 Exhibit D-1-1 

 EXHIBIT D-2 

FORM OF U.S. TAX COMPLIANCE CERTIFICATE 

(For Foreign Buyers That Are Partnerships for U.S. Federal Income Tax Purposes) 

Reference is hereby made to the Master Repurchase Agreement, dated as of March 18, 2020 (as amended, restated, supplemented or otherwise
modified from time to time, the “Agreement”), among FACO Crop Loans LLC, a Delaware limited liability company, as seller (“Seller”), FACo Crop Loan Financing Trust C1, a Delaware statutory trust, as the trust subsidiary
(“Trust Subsidiary”) (the “Seller”) and National Founders LP (the “Buyer”). 
 Pursuant
to the provisions of Section 11(e) of the Agreement, the undersigned hereby certifies that (i) it is the sole record owner of the ownership interest in the Transaction(s) in respect of which it is providing this certificate, (ii) its
direct or indirect partners/members are the sole beneficial owners of such interest, (iii) with respect to such interest, neither the undersigned nor any of its direct or indirect partners/members is a bank extending credit pursuant to a loan
agreement entered into in the ordinary course of its trade or business within the meaning of Section 881(c)(3)(A) of the Code, (iv) none of its direct or indirect partners/members is a [***] shareholder of the Seller within the meaning of
Section 871(h)(3)(B) of the Code and (v) none of its direct or indirect partners/members is a controlled foreign corporation related to the Seller as described in Section 881(c)(3)(C) of the Code. 

The undersigned has furnished the Seller with IRS Form W-8IMY accompanied by one of the following forms
from each of its partners/members that is claiming the portfolio interest exemption: (i) an IRS Form W-8BEN or IRS Form
W-8BEN-E (as applicable) or (ii) an IRS Form W-8IMY accompanied by an IRS Form
W-8BEN or IRS Form W-8BEN-E (as applicable) from each of such partner’s/member’s beneficial owners that is claiming the
portfolio interest exemption. By executing this certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall promptly so inform the Seller, and (2) the undersigned shall have
at all times furnished the Seller with a properly completed and currently effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the [***] preceding such payments. 

Unless otherwise defined herein, terms defined in the Agreement and used herein shall have the meanings given to them in the Agreement. 

 

			
	[NAME OF BUYER]
		
	By:	 	  

		 	Name:
		 	Title:

 Date: ________ __, 20[ ] 

  
 D-2-1

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