Document:

Series 2012-5 Supplement, dated as of November 8, 2012

 Exhibit 4.2 
  

 
  

SERIES 2012-5 SUPPLEMENT 
 Dated as of November 8, 2012 
 to 

POOLING AND SERVICING AGREEMENT 
 Dated as of May 16, 1996, 
 as amended and restated as of January 1, 2006

 $714,287,000 
  

 
 AMERICAN EXPRESS
CREDIT ACCOUNT MASTER TRUST 
 Series 2012-5 

 
  

among 
 AMERICAN
EXPRESS RECEIVABLES FINANCING CORPORATION II 
 AMERICAN EXPRESS RECEIVABLES FINANCING CORPORATION III LLC 

AMERICAN EXPRESS RECEIVABLES FINANCING CORPORATION IV LLC 
 as Transferors 
 AMERICAN EXPRESS TRAVEL RELATED SERVICES COMPANY, INC. 

as Servicer 
 and

 THE BANK OF NEW YORK MELLON 
 as Trustee 
 on behalf of the Series 2012-5 Certificateholders 

 
  

 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
			
	 ARTICLE I
	 	 Creation of the Series 2012-5 Certificates
	  	 	1	  
			
	 Section 1.01.
	 	 Designation
	  	 	1	  
			
	 ARTICLE II
	 	 Definitions
	  	 	2	  
			
	 Section 2.01.
	 	 Definitions
	  	 	2	  
			
	 ARTICLE III
	 	 Servicing Fee
	  	 	14	  
			
	 Section 3.01.
	 	 Servicing Compensation
	  	 	14	  
			
	 ARTICLE IV
	 	 Rights of Series 2012-5 Certificateholders and Allocation and Application of Collections
	  	 	14	  
			
	 Section 4.01.
	 	 Collections and Allocations
	  	 	14	  
			
	 Section 4.02.
	 	 Determination of Monthly Interest
	  	 	17	  
			
	 Section 4.03.
	 	 Principal Funding Account; Controlled Accumulation Period
	  	 	18	  
			
	 Section 4.04.
	 	 Required Amount
	  	 	19	  
			
	 Section 4.05.
	 	 Application of Class A Available Funds, Class B Available Funds, Collateral Available Funds and Available Principal
Collections
	  	 	20	  
			
	 Section 4.06.
	 	 Defaulted Amounts; Investor Charge-Offs
	  	 	22	  
			
	 Section 4.07.
	 	 Excess Spread; Excess Finance Charge Collections
	  	 	23	  
			
	 Section 4.08.
	 	 Reallocated Principal Collections
	  	 	25	  
			
	 Section 4.09.
	 	 Excess Finance Charge Collections
	  	 	25	  
			
	 Section 4.10.
	 	 Reallocated Investor Finance Charge Collections
	  	 	26	  
			
	 Section 4.11.
	 	 Shared Principal Collections
	  	 	27	  
			
	 Section 4.12.
	 	 Reserve Account
	  	 	27	  
			
	 Section 4.13.
	 	 Investment Instructions
	  	 	28	  
			
	 Section 4.14.
	 	 [Reserved]
	  	 	29	  
			
	 ARTICLE V
	 	 Distributions and Reports to Series 2012-5 Certificateholders
	  	 	29	  
			
	 Section 5.01.
	 	 Distributions
	  	 	29	  
			
	 Section 5.02.
	 	 Reports and Statements to Series 2012-5 Certificateholders
	  	 	30	  
			
	 ARTICLE VI
	 	 Pay-Out Events
	  	 	31	  
			
	 Section 6.01.
	 	 Pay-Out Events
	  	 	31	  
			
	 ARTICLE VII
	 	 Optional Repurchase; Series Termination
	  	 	32	  
			
	 Section 7.01.
	 	 Optional Repurchase
	  	 	32	  
			
	 Section 7.02.
	 	 Series Termination
	  	 	33	  

  
 -i-

 TABLE OF CONTENTS 

(continued) 
  

							
	 	 	 	  	Page	 
			
	 ARTICLE VIII
	 	 Final Distributions
	  	 	33	  
			
	 Section 8.01.
	 	 Sale of Receivables or Certificateholders’ Interest pursuant to Section 2.06 or 10.01 of the Agreement and Section 7.01
or 7.02 of this Supplement
	  	 	33	  
			
	 Section 8.02.
	 	 Distribution of Proceeds of Sale, Disposition or Liquidation of the Receivables pursuant to Section 9.01 of the
Agreement
	  	 	34	  
			
	 ARTICLE IX
	 	 Miscellaneous Provisions
	  	 	35	  
			
	 Section 9.01.
	 	 Ratification of Agreement
	  	 	35	  
			
	 Section 9.02.
	 	 Counterparts
	  	 	35	  
			
	 Section 9.03.
	 	 Governing Law
	  	 	36	  
			
	 Section 9.04.
	 	 [Reserved]
	  	 	36	  
			
	 Section 9.05.
	 	 [Reserved]
	  	 	36	  
			
	 Section 9.06.
	 	 Uncertificated Securities
	  	 	36	  
			
	 Section 9.07.
	 	 Transfers of the Collateral Interest
	  	 	36	  

  

					
	(Series 2012-5 Supplement)	 	-ii-	 	

 SERIES 2012-5 SUPPLEMENT, dated as of November 8, 2012 (the
“Supplement”), among AMERICAN EXPRESS RECEIVABLES FINANCING CORPORATION II, a Delaware corporation, AMERICAN EXPRESS RECEIVABLES FINANCING CORPORATION III LLC, a Delaware limited liability company, and AMERICAN EXPRESS RECEIVABLES
FINANCING CORPORATION IV LLC, a Delaware limited liability company, as Transferors, AMERICAN EXPRESS TRAVEL RELATED SERVICES COMPANY, INC., a New York corporation, as Servicer, and THE BANK OF NEW YORK MELLON, a banking corporation organized and
existing under the laws of the State of New York, not in its individual capacity, but solely as Trustee. 
 Pursuant to the
Pooling and Servicing Agreement, dated as of May 16, 1996, as amended and restated as of January 1, 2006 (as amended and restated and as otherwise amended and supplemented, the “Agreement”), among the Transferors, the
Servicer and the Trustee, the AMERICAN EXPRESS CREDIT ACCOUNT MASTER TRUST (the “Trust”) has been created. Section 6.03 of the Agreement provides that the Transferors may from time to time direct the Trustee to authenticate one
or more new Series of Investor Certificates representing fractional undivided interests in the Trust. The Principal Terms of any new Series are to be set forth in a Supplement to the Agreement. 

Pursuant to this Supplement, the Transferors and the Trustee shall create a new Series of Investor Certificates and specify the Principal
Terms thereof. 
 ARTICLE I 
 Creation of the Series 2012-5 Certificates 

Section 1.01. Designation. 
 (a) There is hereby created a Series of Investor Certificates to be issued pursuant to the Agreement and this Supplement to be known as “American Express Credit Account Master Trust, Series
2012-5.” The Series 2012-5 Certificates shall be issued in two Classes, the first of which shall be known as the “Class A Series 2012-5 0.59% Asset Backed Certificates” and the second of which shall be known as the “Class B
Series 2012-5 0.77% Asset Backed Certificates.” In addition, there is hereby created a third Class of uncertificated interests in the Trust which shall be known as the “Collateral Interest, Series 2012-5” and which shall be deemed to
be “Investor Certificates” for all purposes under the Agreement and this Supplement other than for purposes of the definition of the term “Tax Opinion” in Section 1.01 of the Agreement. The Collateral Interest shall be
considered a Class of Series 2012-5 for all purposes of the Agreement and this Supplement, including for purposes of voting concerning the liquidation of the Trust pursuant to Section 9.01 of the Agreement. The Collateral Interest Holder shall
be deemed to be the Series Enhancer for all purposes under the Agreement and this Supplement. 
 (b) Series 2012-5 shall be
included in Group I and shall be a Principal Sharing Series. Series 2012-5 shall be an Excess Allocation Series. Series 2012-5 shall not be subordinated to any other Series. Notwithstanding any provision in the Agreement or in this Supplement
to the contrary, the first Distribution Date with respect to Series 2012-5 shall be the December 2012 Distribution Date and the first Monthly Period shall begin on and include the Closing Date and end on and include November 24, 2012.

 (c) Except as expressly provided herein, (i) the provisions of Article VI and Article XII of the Agreement relating to
the registration, authentication, delivery, presentation, cancellation and surrender of Registered Certificates shall not be applicable to the Collateral Interest, and (ii) the 

  
 1 

 
provisions of Section 3.07 of the Agreement shall not cause the Collateral Interest to be treated as debt for federal, state and local income and franchise tax purposes, but rather the
Transferors intend, and together with the Collateral Interest Holder, agree to treat the Collateral Interest for federal, state and local income and franchise tax purposes as representing an equity interest in the assets of the Trust. 

(d) In connection with the issuance of any future Series of Investor Certificates, notwithstanding subsection 6.03(b)(iv) of the
Agreement, the Rating Agency Condition need not be satisfied for Series 2012-5 with respect to any Rating Agency (other than Standard & Poor’s) then rating Series 2012-5. 

ARTICLE II 

Definitions 
 Section 2.01. Definitions. 
 (a) Whenever used in this Supplement, the
following words and phrases shall have the following meanings, and the definitions of such terms are applicable to the singular as well as the plural forms of such terms and the masculine as well as the feminine and neuter genders of such terms.

 “Additional Interest” means, with respect to any Distribution Date, the Class A Additional
Interest, the Class B Additional Interest and the Collateral Additional Interest for such Distribution Date. 

“Adjusted Invested Amount” shall mean, with respect to any date of determination, an amount equal to the
Invested Amount less the Principal Funding Account Balance on such date of determination. 
 “Assignee” shall
have the meaning specified in subsection 9.07(a). 
 “Available Principal Collections” shall mean,
with respect to any Monthly Period, an amount equal to the sum of (a) (i) an amount equal to the Principal Allocation Percentage of Series 2012-5 Allocable Principal Collections received during such Monthly Period minus
(ii) the amount of Reallocated Principal Collections with respect to such Monthly Period which pursuant to Section 4.08 are required to fund the Required Amount for the related Distribution Date, (b) any Shared Principal
Collections with respect to other Series that are allocated to Series 2012-5 in accordance with Section 4.04 of the Agreement and Section 4.11 of this Supplement, and (c) any other amounts which pursuant to Section 4.05 or 4.07
of this Supplement are to be treated as Available Principal Collections with respect to the related Distribution Date. 

“Available Reserve Account Amount” shall mean, with respect to any Distribution Date, the lesser of
(a) the amount on deposit in the Reserve Account on such date (before giving effect to any deposit to be made to the Reserve Account on such date) and (b) the Required Reserve Account Amount. 

“Base Rate” shall mean, with respect to any Monthly Period, the annualized percentage equivalent of a fraction, the
numerator of which is equal to the sum of the Class A Monthly Interest, the Class B Monthly Interest (calculated as if the Class B Invested Amount equals the outstanding principal balance of the Class B Certificates), the Collateral Senior
Minimum Monthly Interest and the Monthly Servicing Fee with respect to the related Distribution Date and the denominator of which is the Invested Amount as of the last day of the preceding Monthly Period. 

“Class A Additional Interest” shall have the meaning specified in subsection 4.02(a). 

  
 2 

 “Class A Adjusted Invested Amount” shall mean, with
respect to any date of determination, an amount equal to the Class A Invested Amount less the Principal Funding Account Balance (but not in excess of the Class A Invested Amount) on such date. 

“Class A Available Funds” shall mean, with respect to any Monthly Period, an amount equal to the sum of
(a) if such Monthly Period relates to a Distribution Date with respect to the Controlled Accumulation Period, the Class A Floating Percentage of Principal Funding Account Investment Proceeds, if any, with respect to such Distribution Date,
(b) the Class A Floating Percentage of the Reallocated Investor Finance Charge Collections and (c) the amount of funds, if any, to be withdrawn from the Reserve Account which, pursuant to subsection 4.12(d), are required to be
included in Class A Available Funds with respect to such Distribution Date. 

“Class A Certificate Rate” shall mean, for any Interest Accrual Period with respect to the Class A
Certificates, a per annum rate equal to 0.59%. 
 “Class A Certificateholder” shall mean the
Person in whose name a Class A Certificate is registered in the Certificate Register. 

“Class A Certificates” shall mean any one of the Certificates executed by the Transferors and authenticated by
or on behalf of the Trustee, substantially in the form of Exhibit A-l. 

“Class A Floating Percentage” shall mean, with respect to any Monthly Period, the percentage equivalent
(which percentage shall never exceed 100%) of a fraction, the numerator of which is equal to the Class A Adjusted Invested Amount as of the close of business on the last day of the preceding Monthly Period and the denominator of which is equal
to the Adjusted Invested Amount as of such day; provided, however, that with respect to the first Monthly Period, the Class A Floating Percentage shall mean the percentage equivalent of a fraction, the numerator of which is the
Class A Initial Invested Amount and the denominator of which is the Initial Invested Amount. 
 “Class A Initial
Invested Amount” shall mean $600,000,000. 
 “Class A Interest Shortfall” shall have
the meaning specified in subsection 4.02(a). 
 “Class A Invested Amount” shall mean, on any
date of determination, an amount equal to (a) the Class A Initial Invested Amount, minus (b) the aggregate amount of principal payments made to the Class A Certificateholders on or prior to such date, minus
(c) the excess, if any, of (i) the aggregate amount of Class A Investor Charge-Offs for all prior Distribution Dates over (ii) Class A Investor Charge-Offs reimbursed pursuant to subsection 4.07(b) prior to such
date. 
 “Class A Investor Charge-Offs” shall have the meaning specified in subsection 4.06(a).

 “Class A Investor Default Amount” shall mean, with respect to each Distribution Date, an
amount equal to the product of (i) the Investor Default Amount for such Distribution Date and (ii) the Class A Floating Percentage for such Monthly Period. 
 “Class A Monthly Interest” shall have the meaning specified in subsection 4.02(a). 
 “Class A Principal Percentage” shall mean, with respect to any Monthly Period (i) during the Revolving Period, the percentage equivalent (which percentage shall never
exceed 100%) of a fraction, the numerator of which is the Class A Invested Amount as of the last day of the immediately preceding Monthly Period and the denominator of which is the Invested Amount as of such day and (ii) during the
Controlled Accumulation Period, the Early Amortization Period or any Partial Amortization Period, the percentage equivalent (which percentage shall never exceed 100%) of a fraction, the 

  
 3 

 
numerator of which is the Class A Invested Amount as of the close of business on the date on which the Revolving Period shall have terminated and the denominator of which is the Invested
Amount as of the close of business on the date on which the Revolving Period shall have terminated; provided, however, that with respect to the first Monthly Period, the Class A Principal Percentage shall mean the percentage equivalent
of a fraction, the numerator of which is the Class A Initial Invested Amount and denominator of which is the Initial Invested Amount. 
 “Class A Required Amount” shall have the meaning specified in subsection 4.04(a). 
 “Class A Servicing Fee” shall have the meaning specified in Section 3.01. 
 “Class B Additional Interest” shall have the meaning specified in subsection 4.02(b). 
 “Class B Adjusted Invested Amount” shall mean, with respect to any date of determination, an amount equal to the Class B Invested Amount less the positive difference,
if any, between the Principal Funding Account Balance and the Class A Invested Amount on such date. 

“Class B Available Funds” shall mean, with respect to any Monthly Period, an amount equal to the sum of
(a) the Class B Floating Percentage of the Reallocated Investor Finance Charge Collections and (b) if such Monthly Period relates to a Distribution Date with respect to the Controlled Accumulation Period, the Class B Floating Percentage of
the Principal Funding Account Investment Proceeds, if any, with respect to such Distribution Date. 

“Class B Certificate Rate” shall mean, for any Interest Accrual Period with respect to the Class B
Certificates, a per annum rate equal to 0.77%. 
 “Class B Certificateholder” shall mean the
Person in whose name a Class B Certificate is registered in the Certificate Register. 

“Class B Certificates” shall mean any one of the Certificates executed by the Transferors and authenticated by
or on behalf of the Trustee, substantially in the form of Exhibit A-2. 

“Class B Floating Percentage” shall mean, with respect to any Monthly Period, the percentage equivalent
(which percentage shall never exceed 100%) of a fraction, the numerator of which is equal to the Class B Adjusted Invested Amount as of the close of business on the last day of the preceding Monthly Period and the denominator of which is equal to
the Adjusted Invested Amount as of the close of business on such day; provided, however, that with respect to the first Monthly Period, the Class B Floating Percentage shall mean the percentage equivalent of a fraction, the numerator of which
is the Class B Initial Invested Amount and the denominator of which is the Initial Invested Amount. 
 “Class B Initial
Invested Amount” shall mean $41,072,000. 
 “Class B Interest Shortfall” shall have the
meaning specified in subsection 4.02(b). 
 “Class B Invested Amount” shall mean, on any date of
determination, an amount equal to (a) the Class B Initial Invested Amount, minus (b) the aggregate amount of principal payments made to the Class B Certificateholders prior to such date, minus (c) the aggregate amount of
Class B Investor Charge-Offs for all prior Distribution Dates, minus (d) the amount of Reallocated Principal Collections allocated on all prior Distribution Dates pursuant to subsection 4.08(a) (excluding any Reallocated Principal
Collections that have resulted in a reduction in the Collateral Invested Amount pursuant to Section 4.08), minus (e) an amount equal to the amount by which the Class B Invested Amount has been reduced on all prior Distribution Dates
pursuant to subsection 4.06(a) and plus (f) the amount of Excess Spread and Excess Finance Charge Collections allocated and available on all prior Distribution Dates 

  
 4 

 
pursuant to subsection 4.07(e) for the purpose of reimbursing amounts deducted pursuant to the foregoing clauses (c), (d) and (e); provided, however, that the Class B Invested Amount
may not be reduced below zero. 
 “Class B Investor Charge-Offs” shall have the meaning
specified in subsection 4.06(b). 
 “Class B Investor Default Amount” shall mean, with
respect to each Distribution Date, an amount equal to the product of (i) the Investor Default Amount for such Distribution Date and (ii) the Class B Floating Percentage for such Monthly Period. 

“Class B Monthly Interest” shall have the meaning specified in subsection 4.02(b). 

“Class B Principal Percentage” shall mean, with respect to any Monthly Period, (i) during the
Revolving Period, the percentage equivalent (which percentage shall never exceed 100%) of a fraction, the numerator of which is the Class B Invested Amount as of the last day of the immediately preceding Monthly Period and the denominator of which
is the Invested Amount as of such day and (ii) during the Controlled Accumulation Period, the Early Amortization Period or any Partial Amortization Period, the percentage equivalent (which percentage shall never exceed 100%) of a fraction, the
numerator of which is the Class B Invested Amount as of the close of business on the date on which the Revolving Period shall have terminated and the denominator of which is the Invested Amount as of the close of business on the date on which the
Revolving Period shall have terminated; provided, however, that with respect to the first Monthly Period, the Class B Principal Percentage shall mean the percentage equivalent of a fraction, the numerator of which is the Class B Initial
Invested Amount and the denominator of which is the Initial Invested Amount. 

“Class B Required Amount” shall have the meaning set forth in subsection 4.04(b). 

“Class B Servicing Fee” shall have the meaning specified in Section 3.01. 

“Closing Date” shall mean November 8, 2012; provided that, for purposes of determining the date on
which the first Monthly Period begins, the Closing Date shall be deemed to be the close of business on the last day of the twenty-first billing cycle applicable to the Accounts ending in October 2012; provided further, however, that in
the event the last day of the twenty-first billing cycle and the last day of the twenty-second billing cycle are the same day, any transaction, receipt of collections or other activity occurring on such day with respect to the Accounts associated
with the twenty-second billing cycle will be deemed to have occurred on the first day of the first Monthly Period. 

“Collateral Additional Interest” shall have the meaning specified in subsection 4.02(c). 

“Collateral Available Funds” shall mean with respect to any Distribution Date, the Collateral Floating
Percentage of Reallocated Investor Finance Charge Collections with respect to the preceding Monthly Period. 

“Collateral Charge-Offs” shall have the meaning specified in subsection 4.06(c). 

“Collateral Default Amount” shall mean, with respect to any Distribution Date, the product of the Investor
Default Amount for such Distribution Date and the Collateral Floating Percentage. 

“Collateral Floating Percentage” shall mean, with respect to any Distribution Date, the percentage equivalent
(which percentage shall never exceed 100%) of a fraction, the numerator of which is equal to the Collateral Invested Amount as of the close of business on the last day of the preceding Monthly Period and the denominator of which is the Adjusted
Invested Amount as of the close of business on such last day; provided, however, that with respect to the first Monthly Period, the Collateral Floating Percentage shall mean the percentage equivalent of a fraction, the numerator of which is
the Collateral Initial Invested Amount and the denominator of which is the Initial Invested Amount. 

  
 5 

 “Collateral Initial Invested Amount” shall mean $73,215,000.

 “Collateral Interest” shall mean a fractional undivided interest in the Trust which shall consist of
the right to receive, (i) to the extent necessary to make the required payments to the Collateral Interest Holder under this Supplement, the portion of Collections allocable thereto under the Agreement and this Supplement and funds on deposit
in the Collection Account allocable thereto pursuant to the Agreement and this Supplement and (ii) amounts available for payment to the Collateral Interest Holder pursuant to subsections 4.07(k), 4.12(e), 4.12(f), 8.01(b), 8.02(a) and 8.02(b)
or any other provision of this Supplement. 
 “Collateral Interest Holder” shall mean the entity so
designated in the Transfer Agreement. 
 “Collateral Interest Shortfall” shall have the meaning
specified in subsection 4.02(c). 
 “Collateral Invested Amount” shall mean, when used with respect
to any date, an amount equal to (a) the Collateral Initial Invested Amount, minus (b) the aggregate amount of principal payments made to the Collateral Interest Holder prior to such date, minus (c) the aggregate amount
of Collateral Charge-Offs for all prior Distribution Dates pursuant to subsection 4.06(c), minus (d) the aggregate amount of Reallocated Principal Collections allocated on all prior Distribution Dates pursuant to Section 4.08
allocable to the Collateral Invested Amount, minus (e) an amount equal to the amount by which the Collateral Invested Amount has been reduced on all prior Distribution Dates pursuant to subsections 4.06(a) and (b), and plus
(f) the amount allocated and available on all prior Distribution Dates pursuant to subsection 4.07(i), for the purpose of reimbursing amounts deducted pursuant to the foregoing clauses (c), (d) and (e); provided, however, that
the Collateral Invested Amount may not be reduced below zero. 
 “Collateral Minimum Interest Rate” shall mean
the rate specified in the Transfer Agreement; provided that for purposes of this Supplement, such rate shall not exceed 2.475% per annum. 
 “Collateral Minimum Monthly Interest” shall have the meaning specified in subsection 4.02(c). 
 “Collateral Principal Percentage” shall mean, with respect to any Monthly Period, (i) during the Revolving Period, the percentage equivalent (which percentage shall never
exceed 100%) of a fraction, the numerator of which is the Collateral Invested Amount as of the last day of the immediately preceding Monthly Period and the denominator of which is the Invested Amount as of such day and (ii) during the
Controlled Accumulation Period, the Early Amortization Period or any Partial Amortization Period, the percentage equivalent (which percentage shall never exceed 100%) of a fraction, the numerator of which is the Collateral Invested Amount as of the
close of business on the date on which the Revolving Period shall have terminated and the denominator of which is the Invested Amount as of the close of business on the date on which the Revolving Period shall have terminated; provided, however,
that with respect to the first Monthly Period, the Collateral Principal Percentage shall mean the percentage equivalent of a fraction, the numerator of which is the Collateral Initial Invested Amount and the denominator of which is the Initial
Invested Amount. 
 “Collateral Senior Additional Interest” shall have the meaning specified in
subsection 4.02(d). 
 “Collateral Senior Initial Invested Amount” shall mean $44,643,000.

  
 6 

 “Collateral Senior Interest Shortfall” shall have the meaning
specified in subsection 4.02(d). 
 “Collateral Senior Invested Amount” shall mean, when used with
respect to any date, an amount equal to the Collateral Senior Initial Invested Amount less the aggregate amount of principal payments distributed to the Collateral Interest Holder in respect of the Collateral Senior Invested Amount on all prior
Distribution Dates. 
 “Collateral Senior Minimum Interest Rate” shall mean the rate specified in the Transfer
Agreement; provided that for purposes of this Supplement, such rate shall not exceed 1.07% per annum. 

“Collateral Senior Minimum Monthly Interest” shall have the meaning specified in subsection 4.02(d). 

“Collateral Senior Required Amount” shall have the meaning set forth in subsection 4.04(c). 

“Collateral Servicing Fee” shall have the meaning set forth in Section 3.01. 

“Controlled Accumulation Amount” shall mean, for any Distribution Date with respect to the Controlled
Accumulation Period, $53,422,666.67; provided, however, that, if the Controlled Accumulation Period Length is determined to be less than 12 months, the Controlled Accumulation Amount for each Distribution Date with respect to the Controlled
Accumulation Period will be equal to (i) the product of (x) the sum of the Class A Initial Invested Amount and the Class B Initial Invested Amount and (y) the Controlled Accumulation Period Factor for the related Monthly Period
divided by (ii) the Required Accumulation Factor Number. 
 “Controlled Accumulation Period”
shall mean, unless a Pay-Out Event shall have occurred prior thereto, the period commencing at the close of business on the last day of the September 2014 Monthly Period or such later date as is determined in accordance with subsection 4.03(c) and
ending on the first to occur of (a) the commencement of the Early Amortization Period, (b) the payment in full of the Invested Amount and (c) the Expected Final Payment Date. 

“Controlled Accumulation Period Factor” shall mean, for each Monthly Period, a fraction, the numerator of
which is equal to the sum of the series invested amounts as of the last day of the prior Monthly Period of all outstanding Series, and the denominator of which is equal to the sum (without duplication) of (a) the Series Invested Amount as of
the last day of the prior Monthly Period, (b) the series invested amounts as of the last day of the prior Monthly Period of all outstanding Series (other than Series 2012-5) that are not expected to be in their revolving periods, and
(c) the series invested amounts as of the last day of the prior Monthly Period of all other outstanding Series that are not Principal Sharing Series and are in their revolving periods. 

“Controlled Accumulation Period Length” has the meaning specified in subsection 4.03(c). 

“Controlled Deposit Amount” shall mean, for any Distribution Date with respect to the Controlled Accumulation
Period, an amount equal to the sum of the Controlled Accumulation Amount for such Distribution Date and any Deficit Controlled Accumulation Amount for the immediately preceding Distribution Date. 

“Covered Amount” shall mean, for any Distribution Date with respect to the Controlled Accumulation Period or the
first Special Payment Date, if such Special Payment Date occurs prior to the date the Class A Invested Amount is paid in full, an amount equal to the sum of (x) with respect to the 

  
 7 

 
Class A Certificates, one-twelfth of the product of (i) the Class A Certificate Rate and (ii) the Principal Funding Account Balance, if any, as of the preceding Distribution
Date that is allocable to the principal of the Class A Certificates and (y) with respect to the Class B Certificates, one-twelfth of the product of (i) the Class B Certificate Rate and (ii) the Principal Funding Account Balance,
if any, as of the preceding Distribution Date that is allocable to the principal of the Class B Certificates. 

“Deficit Controlled Accumulation Amount” shall mean (a) on the first Distribution Date with respect
to the Controlled Accumulation Period, the excess, if any, of the Controlled Accumulation Amount for such Distribution Date over the amount deposited in the Principal Funding Account on such Distribution Date and (b) on each subsequent
Distribution Date with respect to the Controlled Accumulation Period, the excess, if any, of the Controlled Deposit Amount for such subsequent Distribution Date over the amount deposited in the Principal Funding Account on such subsequent
Distribution Date. 
 “Distribution Date” shall mean December 17, 2012, and the 15th day of each
calendar month thereafter, or if such 15th day is not a Business Day, the next succeeding Business Day. 

“Early Amortization Period” shall mean the period commencing at the close of business on the Business Day
immediately preceding the day on which a Pay-Out Event with respect to Series 2012-5 is deemed to have occurred, and ending on the first to occur of (i) the payment in full of the Invested Amount or (ii) the Series 2012-5 Termination Date.

 “Excess Finance Charge Collections” shall mean collections of Finance Charge Receivables and certain other
amounts allocable to the Certificateholders’ Interest of any Excess Allocation Series in excess of the amounts necessary to make required payments with respect to such series (including payments to the provider of any related Series
Enhancement) that are payable out of collections of Finance Charge Receivables. 
 “Excess Spread” shall
mean, with respect to any Distribution Date, the sum of the amounts, if any, specified pursuant to subsections 4.05(a)(iv), 4.05(b)(iii) and 4.05(c)(ii) with respect to such Distribution Date. 

“Expected Final Payment Date” shall mean the October 2015 Distribution Date. 

“Finance Charge Shortfall” shall have the meaning specified in Section 4.09. 

“Fitch” means Fitch, Inc. or its successor 
 “Floating Allocation Percentage” shall mean, with respect to any Monthly Period, the percentage equivalent (which percentage shall never exceed 100%) of a fraction, the
numerator of which is the Adjusted Invested Amount as of the last day of the preceding Monthly Period (or with respect to the first Monthly Period, the Initial Invested Amount) and the denominator of which is the product of (x) the Series
2012-5 Allocation Percentage with respect to such Monthly Period and (y) the sum of (i) the total amount of Principal Receivables in the Trust as of such day (or with respect to the first Monthly Period, the total amount of Principal
Receivables in the Trust on the Closing Date) and (ii) the principal amount on deposit in the Special Funding Account as of such last day (or with respect to the first Monthly Period, as of the Closing Date); provided, however, that with
respect to any Monthly Period in which an Addition Date for an Aggregate Addition or a Removal Date occurs the amount in (y)(i) above shall be (1) the aggregate amount of Principal Receivables in the Trust at the end of the day on the last day
of the prior Monthly Period for the period from and including the first day of such Monthly Period to but excluding the related Addition Date or Removal Date and (2) the aggregate amount of Principal Receivables in the Trust at the end of the
day on the related Addition Date or Removal Date for the period from and including the related Addition Date or Removal Date to and including the last day of such Monthly Period. 

  
 8 

 “Group I” shall mean Series 2012-5 and each other Series specified in the
related Supplement to be included in Group I. 
 “Group I Investor Additional Amounts” shall
mean, with respect to any Distribution Date, the sum of (a) Series 2012-5 Additional Amounts for such Distribution Date and (b) for all other Series included in Group I, the sum of (i) the aggregate net amount by which the Invested
Amounts of such Series have been reduced as a result of investor charge-offs, subordination of principal collections and funding the investor default amounts in respect of any Class or Series Enhancement interests of such Series as of such
Distribution Date and (ii) if the applicable Supplements so provide, the aggregate unpaid amount of interest at the applicable certificate rates that has accrued on the amounts described in the preceding clause (i) for such Distribution
Date. 
 “Group I Investor Default Amount” shall mean, with respect to any Distribution Date,
the sum of (a) the Investor Default Amount for such Distribution Date and (b) the aggregate amount of the investor default amounts for all other Series included in Group I for such Distribution Date. 

“Group I Investor Finance Charge Collections” shall mean, with respect to any Distribution Date, the
sum of (a) Investor Finance Charge Collections for such Distribution Date and (b) the aggregate amount of the investor finance charge collections for all other Series included in Group I for such Distribution Date. 

“Group I Investor Monthly Fees” shall mean with respect to any Distribution Date, the sum of
(a) Series 2012-5 Monthly Fees for such Distribution Date and (b) the aggregate amount of the servicing fees, investor fees, fees payable to any Series Enhancer and any other similar fees, which are payable out of reallocated investor
finance charge collections pursuant to the related Supplements, for all other Series included in Group I for such Distribution Date. 
 “Group I Investor Monthly Interest” shall mean, with respect to any Distribution Date, the sum of (a) Series 2012-5 Monthly Interest for such Distribution Date and (b) the
aggregate amount of monthly interest, including overdue monthly interest and interest on such overdue monthly interest, if such amounts are payable out of reallocated investor finance charge collections pursuant to the related Supplements, for all
other Series included in Group I for such Distribution Date. 
 “Initial Invested Amount” shall mean
$714,287,000. 
 “Interest Accrual Period” shall mean, with respect to any Distribution Date, the period
(a) from and including the Distribution Date immediately preceding such Distribution Date (or, in the case of the first Distribution Date, from and including the Closing Date) and (b) to but excluding such Distribution Date. 

“Invested Amount” shall mean, as of any date of determination, an amount equal to the sum of (a) the
Class A Invested Amount as of such date, (b) the Class B Invested Amount as of such date and (c) the Collateral Invested Amount as of such date. 
 “Investment Letter” shall have the meaning specified in subsection 9.07(a). 
 “Investor Charge-Offs” shall mean Class A Investor Charge-Offs, Class B Investor Charge-Offs and Collateral Charge-Offs. 

  
 9 

 “Investor Default Amount” shall mean, with respect to any
Distribution Date, an amount equal to the product of (a) the Series 2012-5 Allocable Defaulted Amount for the related Monthly Period and (b) the Floating Allocation Percentage for such Monthly Period. 

“Investor Finance Charge Collections” shall mean with respect to any Distribution Date, an amount equal
to the product of (a) the Floating Allocation Percentage for the related Monthly Period and (b) Series 2012-5 Allocable Finance Charge Collections deposited in the Collection Account for the related Monthly Period. 

“Monthly Interest” means, with respect to any Distribution Date, the Class A Monthly Interest, the Class B
Monthly Interest and the Collateral Minimum Monthly Interest for such Distribution Date. 
 “Monthly Receivables
Percentage” shall mean, for any day, the percentage equivalent of a fraction, the numerator of which is an amount equal to the sum of the aggregate amount of Principal Receivables outstanding in the Trust attributable to the Transferor or
Account Owner with respect to which an Insolvency Event or a Transfer Restriction Event has occurred, and the denominator of which is an amount equal to the sum of the aggregate amount of Principal Receivables outstanding in the Trust, in each as of
the last day of the immediately preceding Monthly Period. 
 “Monthly Servicing Fee” shall have the
meaning specified in subsection 3.01. 
 “Pay-Out Event” shall mean any Pay-Out Event specified in
Section 6.01. 
 “Permitted Assignee” shall mean any Person who, if it were the Collateral Interest Holder
or a holder of an interest in the Trust, as applicable, would not cause the Trust to be taxable as a publicly traded partnership for federal income tax purposes. 
 “Principal Allocation Percentage” shall mean, with respect to any day during a Monthly Period, the percentage equivalent (which percentage shall never exceed 100%) of a
fraction, the numerator of which is (a) during the Revolving Period, the Series Adjusted Invested Amount for Series 2012-5 as of the last day of the immediately preceding Monthly Period (or, in the case of the first Monthly Period, the Initial
Invested Amount) and (b) during the Controlled Accumulation Period, the Early Amortization Period or any Partial Amortization Period, the Series Adjusted Invested Amount for Series 2012-5 as of the close of business on the date on which the
Revolving Period shall have terminated and the denominator of which is the product of (x) the sum of (i) the total amount of Principal Receivables in the Trust as of the last day of the immediately preceding Monthly Period (or with respect
to the first Monthly Period, the total amount of Principal Receivables in the Trust as of the Closing Date) and (ii) the principal amount on deposit in the Special Funding Account as of such last day (or with respect to the first Monthly
Period, the Closing Date) and (y) the Series 2012-5 Allocation Percentage as of the last day of the immediately preceding Monthly Period; provided, however, that with respect to any Monthly Period in which an Addition Date for an
Aggregate Addition or a Removal Date occurs the amount in (x)(i) above shall be (1) the aggregate amount of Principal Receivables in the Trust at the end of the day on the last day of the prior Monthly Period for the period from and including
the first day of such Monthly Period to but excluding the related Addition Date or Removal Date and (2) the aggregate amount of Principal Receivables in the Trust at the end of the day on the related Addition Date or Removal Date for the period
from and including the related Addition Date or Removal Date to and including the last day of such Monthly Period; and provided further, that if after the commencement of the Controlled Accumulation Period a Pay-Out Event occurs with respect
to another Series that was designated in the Supplement therefor as a Series that is a “Paired Series” with respect to Series 2012-5, the Transferors may, by written notice delivered to the Trustee and the Servicer, designate a different
numerator for the foregoing fraction, provided that (x) such numerator is not less than the Adjusted Invested Amount as of the last day of the revolving period for such Paired Series, (y) the Transferors shall

  
 10 

 
have received written notice from each Rating Agency that the Rating Agency Condition has been satisfied with respect to such designation and shall have delivered copies of each such written
notice to the Servicer and the Trustee and (z) each Transferor shall have delivered to the Trustee an Officer’s Certificate of such Transferor to the effect that, based on the facts known to such officer at such time, in the reasonable
belief of such Transferor, such designation will not cause a Pay-Out Event or an event that, after the giving of notice or the lapse of time, would constitute a Pay-Out Event, to occur with respect to Series 2012-5. 

“Principal Funding Account” shall have the meaning specified in subsection 4.03(a)(i). 

“Principal Funding Account Balance” shall mean, with respect to any date of determination during the
Controlled Accumulation Period, the principal amount, if any, on deposit in the Principal Funding Account on such date of determination. 
 “Principal Funding Account Investment Proceeds” shall have the meaning specified in subsection 4.03(a)(ii). 

“Principal Funding Account Investment Shortfall” shall mean, with respect to each Distribution Date during the
Controlled Accumulation Period, the amount, if any, by which the Principal Funding Account Investment Proceeds are less than the Covered Amount. 
 “Reallocated Investor Finance Charge Collections” shall mean that portion of Group I Investor Finance Charge Collections allocated to Series 2012-5 pursuant to
Section 4.10. 
 “Reallocated Principal Collections” shall mean, with respect to any Monthly
Period, the product of (a) the Series 2012-5 Allocable Principal Collections deposited in the Collection Account for such Monthly Period and (b) the sum of the Class B Principal Percentage and the Collateral Principal Percentage.

 “Reassignment Amount” shall mean, with respect to any Distribution Date, after giving effect to any
deposits and distributions otherwise to be made on such Distribution Date, the sum of (i) the Adjusted Invested Amount on such Distribution Date, plus (ii) Monthly Interest for such Distribution Date and any Monthly Interest
previously due but not distributed to the Series 2012-5 Certificateholders on a prior Distribution Date, plus (iii) the amount of Additional Interest, if any, for such Distribution Date and any Additional Interest previously due but not
distributed to the Series 2012-5 Certificateholders on a prior Distribution Date. 

“Required Accumulation Factor Number” shall be equal to a fraction, rounded upwards to the nearest whole
number, the numerator of which is one and the denominator of which is equal to the lowest monthly principal payment rate on the Accounts, expressed as a decimal, for the three months preceding the date of such calculation. 

“Required Amount” shall mean, with respect to any Monthly Period, the sum of the Class A Required Amount, the
Class B Required Amount and the Collateral Senior Required Amount. 

“Required Reserve Account Amount” shall mean, with respect to any Distribution Date on or after the
Reserve Account Funding Date, an amount equal to (1) 0.50% of the Class A Invested Amount as of the preceding Distribution Date (after giving effect to all changes therein on such date) or (2) any other percentage (which may be 0%) of
the Class A Invested Amount designated by the Transferors, provided that if such percentage is less than the percentage specified in clause (1) above, the Transferors shall have received the prior written consent of the Collateral Interest
Holder and written notice from each Rating Agency that the Rating Agency Condition shall have been satisfied with respect to such designation and shall have delivered copies of each such written notice to the Servicer and the Trustee. 

  
 11 

 “Reserve Account” shall have the meaning specified in subsection
4.12(a). 
 “Reserve Account Funding Date” shall mean the Distribution Date which occurs not
later than the earliest of (a) the Distribution Date with respect to the Monthly Period that commences not later than three months prior to the Distribution Date with respect to the first Monthly Period in the Controlled Accumulation Period,
(b) in the event that the average Excess Spread Percentage for any three consecutive Monthly Periods ending in the October 2013 Monthly Period or any Monthly Period thereafter is less than 2%, the Distribution Date with respect to such Monthly
Period, (c) in the event that the average Excess Spread Percentage for any three consecutive Monthly Periods ending in the April 2014 Monthly Period or any Monthly Period thereafter is less than 3%, the Distribution Date with respect to such
Monthly Period and (d) such earlier Distribution Date as the Transferors may determine by written notice to the Trustee and the Servicer. For this purpose, the “Excess Spread Percentage” for any Monthly Period shall be equal to
the Series Adjusted Portfolio Yield for such Monthly Period minus the Base Rate for such Monthly Period. 

“Reserve Account Surplus” shall mean, as of any date of determination, the amount, if any, by which the amount
on deposit in the Reserve Account exceeds the Required Reserve Account Amount. 

“Reserve Draw Amount” shall have the meaning specified in subsection 4.12(c). 

“Revolving Period” shall mean the period beginning at the close of business on the Series Cut-Off Date and ending
on the earlier of (a) the close of business on the day immediately preceding the day the Controlled Accumulation Period commences and (b) the close of business on the day immediately preceding the day the Early Amortization Period
commences. 
 “Series 2012-5” shall mean the Series of Certificates the terms of which are specified in
this Supplement. 
 “Series 2012-5 Additional Amounts” shall mean, with respect to any
Distribution Date, the sum of the amounts determined pursuant to subsections 4.07(b), (e) and (i) for such Distribution Date. 
 “Series 2012-5 Allocable Defaulted Amount” shall mean the Series Allocable Defaulted Amount with respect to Series 2012-5. 

“Series 2012-5 Allocable Finance Charge Collections” shall mean the Series Allocable Finance
Charge Collections with respect to Series 2012-5. 

“Series 2012-5 Allocable Principal Collections” shall mean the Series Allocable Principal
Collections with respect to Series 2012-5. 
 “Series 2012-5 Allocation Percentage” shall mean
the Series Allocation Percentage with respect to Series 2012-5. 
 “Series 2012-5 Certificate” shall
mean a Class A Certificate or a Class B Certificate or the Collateral Interest. 

“Series 2012-5 Certificateholder” shall mean a Class A Certificateholder or a Class B Certificateholder
or the Collateral Interest Holder. 

  
 12 

 “Series 2012-5 Certificateholders’ Interest” shall mean
the Certificateholders’ Interest for Series 2012-5, including the Collateral Interest. 

“Series 2012-5 Monthly Fees” shall mean, with respect to any Distribution Date, the amount determined
pursuant to subsections 4.05(a)(ii), (b)(ii) and (c)(i) and subsection 4.07(g). 
 “Series 2012-5 Monthly
Interest” shall mean the amounts determined pursuant to subsections 4.02(a), (b) and (d). 

“Series 2012-5 Principal Shortfall” shall have the meaning specified in Section 4.11. 

“Series 2012-5 Termination Date” shall mean the May 2018 Distribution Date. 

“Series Adjusted Portfolio Yield” shall mean, with respect to any Monthly Period, the annualized
percentage equivalent of a fraction, (A) the numerator of which is equal to (a) Reallocated Investor Finance Charge Collections with respect to such Monthly Period, plus (b) the amount of any Principal Funding Account
Investment Proceeds for the related Distribution Date, plus (c) provided that each Rating Agency has consented in writing to the inclusion thereof in calculating the Series Adjusted Portfolio Yield, any Excess Finance Charge
Collections that are allocated to Series 2012-5 with respect to such Monthly Period, plus (d) the amount of funds, if any, withdrawn from the Reserve Account which pursuant to subsection 4.12(d) are required to be deposited into the
Collection Account and included as Class A Available Funds for the Distribution Date with respect to such Monthly Period, minus (e) the Investor Default Amount for the Distribution Date with respect to such Monthly Period, and
(B) the denominator of which is the Invested Amount as of the last day of the preceding Monthly Period. 

“Series Cut-Off Date” shall mean the close of business on November 8, 2012. 

“Series Invested Amount” shall mean the Initial Invested Amount. 

“Series Required Transferor Amount” shall mean an amount equal to 7% of the Invested Amount. 

“Servicing Base Amount” shall have the meaning specified in Section 3.01. 

“Servicing Fee Rate” shall mean 2.0% per annum. 

“Special Payment Date” shall mean each Distribution Date with respect to the Early Amortization Period.

 “Transfer” shall have the meaning specified in subsection 9.07(a). 

“Transfer Agreement” shall mean the Transfer and Administration Agreement, dated as of November 8, 2012, among RFC
II, RFC III and RFC IV, as transferors, TRS, as administrator, and the American Express Credit Account Secured Note Trust 2012-5, as issuer, as the same may be amended, supplemented or otherwise modified from time to time. 

“Transferor Percentage” shall mean 100% minus (a) the Floating Allocation Percentage, when used at any
time with respect to Finance Charge Receivables and Defaulted Receivables, or (b) the Principal Allocation Percentage, when used at any time with respect to Principal Receivables. 

(b) Notwithstanding anything to the contrary in this Supplement or the Agreement, the term “Rating Agency” shall
mean, whenever used in this Supplement or the Agreement with respect to Series 2012-5, Fitch and Standard & Poor’s. As used in this Supplement and in the Agreement with respect to Series 2012-5, “highest investment category”
shall mean (i) in the case of Fitch, AAA or F1+, as applicable and (ii) in the case of Standard & Poor’s, AAA or A-1+, as applicable. 

  
 13 

 (c) Each capitalized term defined herein shall relate to the Series 2012-5 Certificates and
no other Series of Certificates issued by the Trust, unless the context otherwise requires. All capitalized terms used herein and not otherwise defined herein have the meanings ascribed to them in the Agreement. In the event that any term or
provision contained herein shall conflict with or be inconsistent with any term or provision contained in the Agreement, the terms and provisions of this Supplement shall govern. 

(d) The words “hereof,” “herein” and “hereunder” and words of similar import when used in this Supplement
shall refer to this Supplement as a whole and not to any particular provision of this Supplement; references to any Article, subsection, Section or Exhibit are references to Articles, subsections, Sections and Exhibits in or to this Supplement
unless otherwise specified; and the term “including” means “including without limitation.” 
 ARTICLE III

 Servicing Fee 
 Section 3.01. Servicing Compensation. The share of the Servicing Fee allocable to the Series 2012-5 Certificateholders with respect to any Distribution Date (the
“Monthly Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such
Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 2012-5 Allocation Percentage with respect
to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with
respect to any Distribution Date (the “Class A Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing
Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of
(a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the
“Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the
Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 2012-5
Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing
Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates. 

ARTICLE IV 

Rights of Series 2012-5 Certificateholders and 

Allocation and Application of Collections 

Section 4.01. Collections and Allocations. 

(a) Allocations. Collections of Finance Charge Receivables and Principal Receivables and Defaulted Receivables allocated to Series
2012-5 pursuant to Article IV of the Agreement (and, as described herein, Collections of Finance Charge Receivables reallocated from other Series in Group I) shall be allocated and distributed or reallocated as set forth in this Article. 

  
 14 

 (b) Payments to the Transferor. The Servicer shall on each Deposit
Date withdraw from the Collection Account and pay to the Holders of the Transferor Certificates the following amounts: 
 (i) an amount equal to the Transferor Percentage for the related Monthly Period of Series 2012-5 Allocable Finance Charge Collections to the extent such amount is deposited in the Collection Account; and

 (ii) an amount equal to the Transferor Percentage for the related Monthly Period of Series 2012-5 Allocable
Principal Collections deposited in the Collection Account, if the Transferor Amount (determined after giving effect to any Principal Receivables transferred to the Trust on such Deposit Date) exceeds zero. 

The withdrawals to be made from the Collection Account pursuant to this subsection 4.01(b) do not apply to deposits into the Collection
Account that do not represent Collections, including payment of the purchase price for the Certificateholders’ Interest pursuant to Section 2.06 or 10.01 of the Agreement, payment of the purchase price for the Series 2012-5
Certificateholders’ Interest pursuant to Section 7.01 of this Supplement and proceeds from the sale, disposition or liquidation of Receivables pursuant to Section 9.01 or 12.02 of the Agreement. 

(c) Allocations to the Series 2012-5 Certificateholders. The Servicer shall, prior to the close of
business on each Deposit Date, allocate to the Series 2012-5 Certificateholders the following amounts as set forth below: 
 (i) Allocations of Finance Charge Collections. The Servicer shall allocate to the Series 2012-5 Certificateholders and retain in the Collection Account for application as
provided herein an amount equal to the product of (A) the Floating Allocation Percentage and (B) the Series 2012-5 Allocation Percentage and (C) the aggregate amount of Collections of Finance Charge Receivables deposited in the
Collection Account on such Deposit Date. 
 (ii) Allocations of Principal Collections. The
Servicer shall allocate to the Series 2012-5 Certificateholders the following amounts as set forth below: 
 (x)
Allocations During the Revolving Period. During the Revolving Period (A) an amount equal to the product of (I) the sum of the Class B Principal Percentage and the Collateral Principal Percentage and (II) the
Principal Allocation Percentage and (III) the Series 2012-5 Allocation Percentage and (IV) the aggregate amount of Collections of Principal Receivables deposited in the Collection Account on such Deposit Date, shall be allocated to the Series 2012-5
Certificateholders and retained in the Collection Account until applied as provided herein and (B) an amount equal to the product of (I) the Class A Principal Percentage and (II) the Principal Allocation Percentage and (III) the
Series 2012-5 Allocation Percentage and (IV) the aggregate amount of Collections of Principal Receivables deposited in the Collection Account on such Deposit Date shall be allocated to the Series 2012-5 Certificateholders and first, if any other
Principal Sharing Series is outstanding and in its amortization period or accumulation period, retained in the Collection Account for application, to the extent necessary, as Shared Principal Collections on the related Distribution Date, and second
paid to the Holders of the Transferor Certificates; provided, however, that such amount to be paid to the Holders of the Transferor Certificates 

  
 15 

 
on any Deposit Date shall be paid to such Holders only if the Transferor Amount on such Deposit Date is greater than the Required Transferor Amount (after giving effect to all Principal
Receivables transferred to the Trust on such day) and otherwise shall be deposited in the Special Funding Account. 
 (y) Allocations During the Controlled Accumulation Period. During the Controlled Accumulation Period (A) an amount equal to the product of (I) the sum of the
Class B Principal Percentage and the Collateral Principal Percentage and (II) the Principal Allocation Percentage and (III) the Series 2012-5 Allocation Percentage and (IV) the aggregate amount of Collections of Principal Receivables deposited in
the Collection Account on such Deposit Date, shall be allocated to the Series 2012-5 Certificateholders and retained in the Collection Account until applied as provided herein and (B) an amount equal to the product of (I) the Class A
Principal Percentage and (II) the Principal Allocation Percentage and (III) the Series 2012-5 Allocation Percentage and (IV) the aggregate amount of Collections of Principal Receivables deposited in the Collection Account on such Deposit Date (the
product specified in this clause (B) for any such date is hereinafter referred to as a “Percentage Allocation”) shall be allocated to the Series 2012-5 Certificateholders and retained in the Collection Account until
applied as provided herein; provided, however, that if the sum of such Percentage Allocation and all preceding Percentage Allocations with respect to the same Monthly Period exceeds the Controlled Deposit Amount during the Controlled
Accumulation Period for the related Distribution Date, then such excess shall not be treated as a Percentage Allocation and shall be first, if any other Principal Sharing Series is outstanding and in its amortization period or accumulation period,
retained in the Collection Account for application, to the extent necessary, as Shared Principal Collections on the related Distribution Date, and second paid to the Holders of the Transferor Certificates only if the Transferor Amount on such
Deposit Date is greater than the Required Transferor Amount (after giving effect to all Principal Receivables transferred to the Trust on such day) and otherwise shall be deposited in the Special Funding Account. 

(z) Allocations During the Early Amortization Period. During the Early Amortization
Period, an amount equal to the product of (A) the Principal Allocation Percentage and (B) the Series 2012-5 Allocation Percentage and (C) the aggregate amount of Collections of Principal Receivables deposited in the Collection Account
on such Deposit Date, shall be allocated to the Series 2012-5 Certificateholders and retained in the Collection Account until applied as provided herein; provided, however, that after the date on which an amount of such Collections equal to
the Adjusted Invested Amount has been deposited into the Collection Account and allocated to the Series 2012-5 Certificateholders, the remainder that has not been so deposited and allocated shall be first, if any other Principal Sharing Series is
outstanding and in its amortization period or accumulation period, retained in the Collection Account for application, to the extent necessary, as Shared Principal Collections on the related Distribution Date, and second paid to the Holders of the
Transferor Certificates only if the Transferor Amount on such date is greater than the Required Transferor Amount (after giving effect to all Principal Receivables transferred to the Trust on such day) and otherwise shall be deposited in the Special
Funding Account. 

  
 16 

 Section 4.02. Determination of Monthly Interest. 

(a) The amount of monthly interest (“Class A Monthly Interest”) distributable from the Collection Account
with respect to the Class A Certificates on any Distribution Date shall be an amount equal to one-twelfth of the product of (i) the Class A Certificate Rate and (ii) the outstanding principal balance of the Class A
Certificates as of close of business on the immediately preceding Record Date; provided that Class A Monthly Interest for the first Distribution Date shall be an amount equal to $363,833.33. 

On the Determination Date preceding each Distribution Date, the Servicer shall determine the excess, if any (the
“Class A Interest Shortfall”), of (x) the Class A Monthly Interest for such Distribution Date over (y) the aggregate amount of funds allocated and available to pay such Class A Monthly Interest on
such Distribution Date. If the Class A Interest Shortfall with respect to any Distribution Date is greater than zero, on each subsequent Distribution Date until such Class A Interest Shortfall is fully paid, an additional amount
(“Class A Additional Interest”) equal to one-twelfth of the product of (i) the sum of (x) the Class A Certificate Rate and (y) 2.0% per annum and (ii) such Class A Interest
Shortfall (or the portion thereof which has not been paid to the Class A Certificateholders) shall be payable as provided herein with respect to the Class A Certificates. Notwithstanding anything to the contrary herein, Class A
Additional Interest shall be payable or distributed to the Class A Certificateholders only to the extent permitted by applicable law. 
 (b) The amount of monthly interest (“Class B Monthly Interest”) distributable from the Collection Account with respect to the Class B Certificates on any Distribution Date shall be an
amount equal to one-twelfth of the product of (i) the Class B Certificate Rate for such Distribution Date and (ii) the Class B Invested Amount as of the close of business on the immediately preceding Record Date; provided that Class
B Monthly Interest for the first Distribution Date shall be an amount equal to $32,503.92. 
 On the Determination Date
preceding each Distribution Date, the Servicer shall determine the excess, if any (the “Class B Interest Shortfall”), of (x) the Class B Monthly Interest for such Distribution Date over (y) the aggregate
amount of funds allocated and available to pay such Class B Monthly Interest on such Distribution Date. If the Class B Interest Shortfall with respect to any Distribution Date is greater than zero, on each subsequent Distribution Date until such
Class B Interest Shortfall is fully paid, an additional amount (“Class B Additional Interest”) equal to one-twelfth of the product of (i) the sum of (x) the Class B Certificate Rate and
(y) 2.0% per annum and (ii) such Class B Interest Shortfall (or the portion thereof which has not been paid to the Class B Certificateholders) shall be payable as provided herein with respect to the Class B Certificates.
Notwithstanding anything to the contrary herein, Class B Additional Interest shall be payable or distributed to the Class B Certificateholders only to the extent permitted by applicable law. 

(c) The amount of monthly interest (“Collateral Minimum Monthly Interest”) distributable from the Collection Account
with respect to the Collateral Invested Amount on any Distribution Date shall be an amount equal to one-twelfth of the product of (i) the Collateral Minimum Interest Rate and (ii) the Collateral Initial Invested Amount less the aggregate
amount of principal payments distributed to the Collateral Interest Holder on all prior Distribution Dates. 
 On the
Determination Date preceding each Distribution Date, the Servicer shall determine an amount (the “Collateral Interest Shortfall”) equal to (x) the aggregate Collateral Minimum Monthly Interest for such Distribution
Date minus (y) the aggregate amount of funds allocated and available to pay such Collateral Minimum Monthly Interest on such Distribution Date. If the Collateral Interest Shortfall with respect to any Distribution Date is greater than
zero, on each subsequent Distribution Date until such Collateral Interest Shortfall is fully paid, an additional amount (“Collateral Additional Interest”) shall be payable as provided herein with respect to the Collateral
Invested Amount equal to one-twelfth of the product of (i) the Collateral Minimum Interest Rate and (ii) such Collateral Interest Shortfall (or the portion thereof which has not been paid to the Collateral Interest Holder). Notwithstanding
anything to the contrary herein, Collateral Additional Interest shall be payable or distributed to the Collateral Interest Holder only to the extent permitted by applicable law. 

  
 17 

 (d) The amount of monthly interest (“Collateral Senior Minimum Monthly
Interest”) distributable from the Collection Account with respect to the Collateral Senior Invested Amount on any Distribution Date shall be an amount equal to one-twelfth of the product of (i) the Collateral Senior Minimum Interest
Rate and (ii) the Collateral Senior Invested Amount; provided that Collateral Senior Minimum Monthly Interest for the first Distribution Date shall be an amount equal to $49,094.90. 

On the Determination Date preceding each Distribution Date, the Servicer shall determine an amount (the “Collateral Senior
Interest Shortfall”) equal to (x) the aggregate Collateral Senior Minimum Monthly Interest for such Distribution Date minus (y) the aggregate amount of funds allocated and available to pay such Collateral Senior
Minimum Monthly Interest on such Distribution Date. If the Collateral Senior Interest Shortfall with respect to any Distribution Date is greater than zero, on each subsequent Distribution Date until such Collateral Senior Interest Shortfall is fully
paid, an additional amount (“Collateral Senior Additional Interest”) shall be payable as provided herein with respect to the Collateral Senior Invested Amount equal to one-twelfth of the product of (i) the Collateral
Senior Minimum Interest Rate and (ii) such Collateral Senior Interest Shortfall (or the portion thereof which has not been paid to the Collateral Interest Holder). Notwithstanding anything to the contrary herein, Collateral Senior Additional
Interest shall be payable or distributed to the Collateral Interest Holder only to the extent permitted by applicable law. 

Section 4.03. Principal Funding Account; Controlled Accumulation Period. 

(a) (i) The Servicer, for the benefit of the Series 2012-5 Certificateholders, shall establish and maintain in the name of the
Trustee, on behalf of the Trust, an Eligible Deposit Account (the “Principal Funding Account”), bearing a designation clearly indicating that the funds deposited therein and the property credited thereto are held for the
benefit of the Series 2012-5 Certificateholders. The Principal Funding Account shall initially be established with The Bank of New York Mellon. 
 (ii) At the written direction of the Servicer, funds on deposit in the Principal Funding Account shall be invested by the Trustee in Eligible Investments selected by the Servicer. All such Eligible
Investments shall be held by the Trustee for the benefit of the Series 2012-5 Certificateholders; provided that on each Distribution Date all interest and other investment income (net of losses and investment expenses) (“Principal
Funding Account Investment Proceeds”) on funds on deposit therein shall be applied as set forth in paragraph (iii) below. Funds on deposit in the Principal Funding Account shall be invested in Eligible Investments that will mature so
that such funds will be available at the close of business on the Transfer Date preceding the following Distribution Date. Unless the Servicer directs otherwise, funds deposited in the Principal Funding Account on a Transfer Date (which immediately
precedes a Distribution Date) upon the maturity of any Eligible Investments are not required to be invested overnight. No such Eligible Investment shall be disposed of prior to its maturity; provided, however, that the Trustee shall sell,
liquidate or dispose of any such Eligible Investment if, prior to the maturity of such Eligible Investment, a default occurs in the payment of principal, interest or any other amount with respect to such Eligible Investment; provided further,
however, that the Servicer shall deliver prompt written notice to the Trustee of any such default; and provided further that, subject to Section 11.01 of the Agreement, the Trustee will not in any way be held liable by reason of any
insufficiency in such Principal Funding Account resulting from any loss on any Eligible Investment included therein except for losses attributable to the Trustee’s failure to make payments on such Eligible Investments issued by the Trustee, in
its commercial capacity, in accordance with their terms. 
 (iii) On each Distribution Date with respect to the Controlled
Accumulation Period, the Servicer shall direct the Trustee in writing to withdraw from the Principal Funding Account and deposit into the Collection Account all Principal Funding Account Investment

  
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Proceeds then on deposit in the Principal Funding Account and such Principal Funding Account Investment Proceeds shall be treated as a portion of Class A Available Funds and Class B
Available Funds. 
 (iv) Reinvested interest and other investment income on funds deposited in the Principal Funding Account
shall not be considered to be principal amounts on deposit therein for purposes of this Supplement. 
 (b) (i) The Trustee
shall possess all right, title and interest in all funds and property from time to time deposited in or credited to the Principal Funding Account and in all proceeds thereof. The Principal Funding Account shall be under the sole dominion and control
of the Trustee for the benefit of the Series 2012-5 Certificateholders. If, at any time, the Principal Funding Account ceases to be an Eligible Deposit Account, the Trustee (or the Servicer on its behalf) shall within 10 Business Days (or such
longer period, not to exceed 30 calendar days, as to which each Rating Agency may consent) establish a new Principal Funding Account meeting the conditions specified in paragraph (a)(i) above as an Eligible Deposit Account and shall transfer any
cash or any investments to such new Principal Funding Account. 
 (ii) Pursuant to the authority granted to the Servicer in
subsection 3.01(b) of the Agreement, the Servicer shall have the power to make withdrawals and payments or to instruct the Trustee to make withdrawals and payments from the Principal Funding Account for the purposes of carrying out the
Servicer’s or Trustee’s duties hereunder. Pursuant to the authority granted to the Paying Agent in Section 5.01 of this Supplement and Section 6.07 of the Agreement, the Paying Agent shall have the power to withdraw funds from
the Principal Funding Account for the purpose of making distributions to the Series 2012-5 Certificateholders. 
 (c) The
Controlled Accumulation Period is scheduled to commence at the close of business on the last day of the September 2014 Monthly Period; provided, however, that if the Controlled Accumulation Period Length (which shall be determined as
described below) is less than 12 months, the date on which the Controlled Accumulation Period actually commences will be delayed to the close of business on the last day of the month preceding the month that is the number of months prior to the
Expected Final Payment Date at least equal to the Controlled Accumulation Period Length and, as a result, the number of Monthly Periods in the Controlled Accumulation Period will at least equal the Controlled Accumulation Period Length. On the
Determination Date immediately preceding the September 2014 Distribution Date, and on each Determination Date thereafter that occurs prior to the Determination Date occurring in the Monthly Period in which the Controlled Accumulation Period
commences, the Servicer will determine the “Controlled Accumulation Period Length” which will equal the number of months such that the sum of the Controlled Accumulation Period Factors for each month during such
period will be equal to or greater than the Required Accumulation Factor Number; provided, however, that the Controlled Accumulation Period Length shall not be less than one month. Notwithstanding the foregoing, if the Controlled Accumulation
Period Length shall have been determined to be less than 12 months and, after the date on which such determination is made, a Pay-Out Event or Reinvestment Event (as those terms are defined in the Supplement for such Series) shall occur with respect
to any outstanding Principal Sharing Series other than Series 2012-5, the Controlled Accumulation Period will commence on the earlier of (i) the first day of the Monthly Period immediately succeeding the date that such Pay-Out Event or
Reinvestment Event shall have occurred with respect to such Series and (ii) the date on which the Controlled Accumulation Period is then scheduled to commence. 
 Section 4.04. Required Amount. 
 (a) With respect to each
Distribution Date, on the related Determination Date, the Servicer shall determine the amount (the “Class A Required Amount”), if any, by which (x) the sum of
(i)

  
 19 

 
Class A Monthly Interest for such Distribution Date, (ii) any Class A Monthly Interest previously due but not paid to the Class A Certificateholders on a prior Distribution
Date, (iii) any Class A Additional Interest for such Distribution Date and (iv) any Class A Additional Interest previously due but not paid to the Class A Certificateholders on a prior Distribution Date, (v) if TRS or
an Affiliate of TRS is no longer the Servicer, the Class A Servicing Fee for such Distribution Date, (vi) if TRS or an Affiliate of TRS is no longer the Servicer, any Class A Servicing Fee previously due but not paid to the Servicer,
and (vii) the Class A Investor Default Amount, if any, for such Distribution Date exceeds (y) the Class A Available Funds. In the event that the difference between (x) the Class A Required Amount for such Distribution
Date and (y) the amount of Excess Spread and Excess Finance Charge Collections applied with respect thereto pursuant to subsection 4.07(a) on such Distribution Date is greater than zero, the Servicer shall give written notice to the Transferors
and the Trustee of such excess Class A Required Amount on the date of computation. 
 (b) With respect to each Distribution
Date, on the related Determination Date, the Servicer shall determine the amount (the “Class B Required Amount”), if any, equal to the sum of (x) the amount, if any, by which (A) the sum of (i) Class B
Monthly Interest for such Distribution Date, (ii) any Class B Monthly Interest previously due but not paid to the Class B Certificateholders, (iii) Class B Additional Interest, if any, for such Distribution Date, (iv) any Class B
Additional Interest previously due but not paid to the Class B Certificateholders on a prior Distribution Date, (v) if TRS or an Affiliate of TRS is no longer the Servicer, the Class B Servicing Fee for such Distribution Date and (vi) if
TRS or an Affiliate of TRS is no longer the Servicer, any Class B Servicing Fee previously due but not paid to the Servicer exceeds (B) the Class B Available Funds and (y) the Class B Investor Default Amount for such Distribution Date. In
the event that the difference between (x) the Class B Required Amount for such Distribution Date and (y) the amount of Excess Spread and Excess Finance Charge Collections applied with respect thereto pursuant to subsection 4.07(d) on such
Distribution Date is greater than zero, the Servicer shall give written notice to the Transferors and the Trustee of such excess Class B Required Amount on the date of computation. 

(c) With respect to each Distribution Date, on the related Determination Date, the Servicer shall determine the amount (the
“Collateral Senior Required Amount”), if any, by which (x) the sum of (i) if TRS or an Affiliate of TRS is no longer the Servicer, the Collateral Servicing Fee for such Distribution Date, (ii) if TRS or an Affiliate
of TRS is no longer the Servicer, any Collateral Servicing Fee previously due but not paid to the Servicer, (iii) Collateral Senior Minimum Monthly Interest for such Distribution Date, (iv) any Collateral Senior Minimum Monthly Interest
previously due but not distributed to the Collateral Interest Holder on a prior Distribution Date, (v) Collateral Senior Additional Interest, if any, for such Distribution Date, and (vi) any Collateral Senior Additional Interest previously
due but not distributed to the Collateral Interest Holder on a prior Distribution Date exceeds (y) the sum of (A) the amount of Collateral Available Funds to be applied under Section 4.05(c)(i) on such Distribution Date and
(B) the amount of Excess Spread and Excess Finance Charge Collections available to be applied pursuant to subsection 4.07(f) on such Distribution Date. In the event that the Collateral Senior Required Amount is greater than zero, the Servicer
shall give written notice to the Transferors and the Trustee of such Collateral Senior Required Amount on the date of computation. 
 Section 4.05. Application of Class A Available Funds, Class B Available Funds, Collateral Available Funds and Available Principal Collections. The Servicer shall apply, or shall cause the
Trustee to apply by written instruction to the Trustee substantially in the form of Exhibit B, on each Distribution Date, Class A Available Funds, Class B Available Funds, Collateral Available Funds and Available Principal Collections on
deposit in the Collection Account with respect to such Distribution Date to make the following distributions: 
 (a) On each
Distribution Date, an amount equal to the Class A Available Funds with respect to such Distribution Date will be distributed or deposited in the following priority: 

(i) an amount equal to Class A Monthly Interest for such Distribution Date, plus the amount of any
Class A Monthly Interest previously due but not distributed to Class A Certificateholders on a prior Distribution Date, plus the amount of any Class A Additional Interest for such Distribution Date and any Class A
Additional Interest previously due but not distributed to Class A Certificateholders on a prior Distribution Date, shall be distributed to the Paying Agent for payment to the Class A Certificateholders; 

  
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 (ii) if TRS or an Affiliate of TRS is no longer the Servicer, an amount
equal to the Class A Servicing Fee for such Distribution Date, plus the amount of any Class A Servicing Fee previously due but not distributed to the Servicer on a prior Distribution Date, shall be distributed to the Servicer;

 (iii) an amount equal to the Class A Investor Default Amount for such Distribution Date shall be treated
as a portion of Available Principal Collections for such Distribution Date; and 
 (iv) the balance, if any,
shall constitute Excess Spread and shall be allocated and distributed or deposited as set forth in Section 4.07. 
 (b) On
each Distribution Date, an amount equal to the Class B Available Funds with respect to such Distribution Date will be distributed or deposited in the following priority: 

(i) an amount equal to Class B Monthly Interest for such Distribution Date, plus the amount of any Class B Monthly
Interest previously due but not distributed to Class B Certificateholders on a prior Distribution Date, plus the amount of any Class B Additional Interest for such Distribution Date and any Class B Additional Interest previously due but not
distributed to Class B Certificateholders on a prior Distribution Date, shall be distributed to the Paying Agent for payment to the Class B Certificateholders; 
 (ii) if TRS or an Affiliate of TRS is no longer the Servicer, an amount equal to the Class B Servicing Fee for such Distribution Date, plus the amount of any Class B Servicing Fee previously due
but not distributed to the Servicer on a prior Distribution Date, shall be distributed to the Servicer; and 

(iii) the balance, if any, shall constitute Excess Spread and shall be allocated and distributed or deposited as set forth
in Section 4.07. 
 (c) On each Distribution Date, an amount equal to the Collateral Available Funds with respect to such
Distribution Date will be distributed or deposited in the following priority: 
 (i) if TRS or an Affiliate of
TRS is no longer the Servicer, an amount equal to the Collateral Servicing Fee for such Distribution Date, plus the amount of any Collateral Servicing Fee previously due but not distributed to the Servicer on a prior Distribution Date, shall
be distributed to the Servicer; and 
 (ii) the balance, if any, shall constitute Excess Spread and shall be
allocated and distributed or deposited as set forth in Section 4.07. 
 (d) On each Distribution Date with respect to the
Revolving Period, an amount equal to the Available Principal Collections deposited in the Collection Account for the related Monthly Period shall be treated as Shared Principal Collections and applied in accordance with Section 4.04 of the
Agreement. 

  
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 (e) On each Distribution Date with respect to the Controlled Accumulation Period, an amount
equal to the Available Principal Collections deposited in the Collection Account for the related Monthly Period shall be distributed in the following order of priority: 

(i) an amount equal to the lesser of (x) the Controlled Deposit Amount and (y) the sum of the Class A
Adjusted Invested Amount and the Class B Adjusted Invested Amount shall be deposited in the Principal Funding Account; 
 (ii) for each Distribution Date beginning on the Distribution Date on which the Class B Invested Amount shall have been paid in full, an amount up to the Collateral Invested Amount shall be distributed to
the Collateral Interest Holder; and 
 (iii) the balance of such Available Principal Collections shall be treated
as Shared Principal Collections and applied in accordance with Section 4.04 of the Agreement. 
 (f) On each Distribution
Date with respect to the Early Amortization Period, an amount equal to Available Principal Collections deposited in the Collection Account for the related Monthly Period shall be distributed or deposited in the following order of priority:

 (i) an amount up to the Class A Adjusted Invested Amount on such Distribution Date shall be deposited in
the Principal Funding Account for distribution to the Class A Certificateholders; 
 (ii) for each
Distribution Date beginning on the Distribution Date on which the Class A Invested Amount is paid in full, an amount up to the Class B Adjusted Invested Amount on such Distribution Date shall be deposited in the Principal Funding Account for
distribution to the Class B Certificateholders; 
 (iii) for each Distribution Date beginning on the Distribution
Date on which the Class B Invested Amount is paid in full, an amount up to the Collateral Invested Amount on such Distribution Date shall be distributed to the Collateral Interest Holder; and 

(iv) for each Distribution Date, after giving effect to paragraphs (i), (ii) and (iii) above, an amount equal to
the balance, if any, of such Available Principal Collections will be treated as Shared Principal Collections and applied in accordance with Section 4.04 of the Agreement. 
 Section 4.06. Defaulted Amounts; Investor Charge-Offs. 

(a) On each Determination Date, the Servicer shall calculate the Class A Investor Default Amount, if any, for the related
Distribution Date. If, on any Distribution Date, the Class A Required Amount for the related Monthly Period exceeds the sum of (x) the amount of Reallocated Principal Collections allocated to Series 2012-5 with respect to such Monthly
Period and (y) the amount of Excess Spread and the Excess Finance Charge Collections allocable to Series 2012-5 with respect to such Monthly Period, the Collateral Invested Amount, if any, will be reduced by the amount of such excess, but not
by more than the Class A Investor Default Amount for such Distribution Date. In the event that such reduction would cause the Collateral Invested Amount to be a negative number, the Collateral Invested Amount will be reduced to zero and the
Class B Invested Amount shall be reduced by 

  
 22 

 
the amount by which the Collateral Invested Amount would have been reduced below zero, but not by more than the excess, if any, of the Class A Investor Default Amount for such Distribution
Date over the amount of such reduction, if any, of the Collateral Invested Amount with respect to such Distribution Date. In the event that such reduction would cause the Class B Invested Amount to be a negative number, the Class B Invested Amount
shall be reduced to zero, and the Class A Invested Amount shall be reduced by the amount by which the Class B Invested Amount would have been reduced below zero, but not by more than the excess, if any, of the Class A Investor Default
Amount for such Distribution Date over the aggregate amount of the reductions, if any, of the Collateral Invested Amount and the Class B Invested Amount for such Distribution Date (a “Class A Investor Charge-Off”).
Class A Investor Charge-Offs shall thereafter be reimbursed and the Class A Invested Amount increased (but not by an amount in excess of the aggregate unreimbursed Class A Investor Charge-Offs) on any Distribution Date by the amount
of Excess Spread and Excess Finance Charge Collections allocated and available for that purpose pursuant to subsection 4.07(b). References to “negative numbers” above shall be determined without regard to the requirement that the Invested
Amount of a Class not be reduced below zero. 
 (b) On each Determination Date, the Servicer shall calculate the Class B
Investor Default Amount, if any, for the related Distribution Date. If, on any Distribution Date, the Class B Required Amount for such Distribution Date exceeds the sum of (x) the amount of Excess Spread and Excess Finance Charge Collections
allocated to Series 2012-5 with respect to the related Monthly Period which are allocated and available to pay such amount pursuant to subsection 4.07(d) and (y) the Reallocated Principal Collections allocable to the Collateral Interest and not
required to pay the Class A Required Amount with respect to such Distribution Date, then the Collateral Invested Amount shall be reduced by the amount of such excess. In the event that such reduction would cause the Collateral Invested Amount
to be a negative number, the Collateral Invested Amount shall be reduced to zero, and the Class B Invested Amount shall be reduced by the amount by which the Collateral Invested Amount would have been reduced below zero, but not by more than the
excess, if any, of the Class B Investor Default Amount for such Distribution Date over the amount of such reduction, if any, of the Collateral Invested Amount with respect to such Distribution Date (a
“Class B Investor Charge-Off”). Class B Investor Charge-Offs shall thereafter be reimbursed and the Class B Invested Amount increased (but not by an amount in excess of the aggregate unreimbursed Class B Investor
Charge-Offs) on any Distribution Date by the amount of Excess Spread and Excess Finance Charge Collections allocated and available for that purpose pursuant to subsection 4.07(e). References to “negative numbers” above shall be determined
without regard to the requirement that the Invested Amount of a Class not be reduced below zero. 
 (c) On each Determination
Date, the Servicer shall calculate the Collateral Default Amount. If on any Distribution Date the Collateral Default Amount for the previous Monthly Period exceeds the amount of Excess Spread and Excess Finance Charge Collections allocated to Series
2012-5 with respect to the related Monthly Period which are allocated and available to pay such amount pursuant to subsection 4.07(h), the Collateral Invested Amount will be reduced by the amount of such excess but not by more than the lesser of the
Collateral Default Amount and the Collateral Invested Amount for such Distribution Date (a “Collateral Charge-Off”). The Collateral Invested Amount will be reimbursed after any reduction pursuant to this Section 4.06 on
any Distribution Date by the amount of Excess Spread and Excess Finance Charge Collections allocated and available on such Distribution date for that purpose as described under subsection 4.07(i). 

Section 4.07. Excess Spread; Excess Finance Charge Collections. The Servicer shall apply, or shall
cause the Trustee to apply by written instruction to the Trustee substantially in the form of Exhibit B, on each Distribution Date, Excess Spread and Excess Finance Charge Collections allocated to Series 2012-5 with respect to the related Monthly
Period, to make the following distributions or deposits in the following order of priority: 
 (a) an amount equal to the
Class A Required Amount, if any, with respect to such Distribution Date shall be distributed by the Trustee to fund the Class A Required Amount in accordance with, and in the priority set forth in, subsections 4.05(a)(i), (ii) and
(iii); 

  
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 (b) an amount equal to the aggregate amount of Class A Investor Charge-Offs which have
not been previously reimbursed shall be treated as a portion of Available Principal Collections for such Distribution Date; 

(c) an amount equal to interest on the aggregate outstanding principal balance of the Class B Certificates not otherwise distributed to
the Class B Certificateholders pursuant to Section 4.05(b)(i), at a rate per annum equal to the Class B Certificate Rate, shall be distributed to the Class B Certificateholders, except that interest previously due but not paid will
accrue interest at a rate per annum equal to the Class B Certificate Rate plus 2% per annum; 
 (d) an amount
equal to the Class B Required Amount, if any, with respect to such Distribution Date will be (i) used to fund the Class B Required Amount and be applied in accordance with subsections 4.05(b)(i) and 4.05(b)(ii), and then (ii) an
amount up to the Class B Investor Default Amount will be treated and applied as Available Principal Collections for such Distribution Date; 
 (e) an amount equal to the aggregate amount by which the Class B Invested Amount has been reduced pursuant to clauses (c), (d) and (e) of the definition of “Class B Invested Amount” in
Section 2.01 of this Supplement (but not in excess of the aggregate amount of such reductions which have not been previously reimbursed) shall be treated as a portion of Available Principal Collections for such Distribution Date; 

(f) an amount equal to Collateral Senior Minimum Monthly Interest for such Distribution Date, plus the amount of any Collateral
Senior Minimum Monthly Interest previously due but not distributed to the Collateral Interest Holder on a prior Distribution Date, plus the amount of any Collateral Senior Additional Interest for such Distribution Date and any Collateral
Senior Additional Interest previously due but not distributed to the Collateral Interest Holder on a prior Distribution Date, shall be distributed to the Collateral Interest Holder; 

(g) an amount equal to the Monthly Servicing Fee for such Distribution Date that has not been paid to the Servicer and any Monthly
Servicing Fee due but not paid to the Servicer on a prior Distribution Date shall be paid to the Servicer; 
 (h) an amount
equal to the Collateral Default Amount, if any, for such Distribution Date shall be treated as a portion of Available Principal Collections for such Distribution Date; 
 (i) an amount equal to the aggregate amount by which the Collateral Invested Amount has been reduced pursuant to clauses (c), (d) and (e) of the definition of “Collateral Invested
Amount” (but not in excess of the aggregate amount of such reductions which have not been previously reimbursed) shall be treated as a portion of Available Principal Collections for such Distribution Date; 

(j) on each Distribution Date from and after the Reserve Account Funding Date, but prior to the date on which the Reserve Account
terminates pursuant to subsection 4.12(f), an amount up to the excess, if any, of the Required Reserve Account Amount over the Available Reserve Account Amount shall be deposited into the Reserve Account; and 

(k) the balance, if any, will be distributed to the Collateral Interest Holder. 

  
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 Section 4.08. Reallocated Principal Collections. On each Distribution
Date, the Servicer shall apply, or shall cause the Trustee to apply by written instruction to the Trustee substantially in the form of Exhibit B, Reallocated Principal Collections with respect to such Distribution Date, to make the following
distributions or deposits in the following order of priority 
 (a) an amount equal to the excess, if any, of (i) the
Class A Required Amount, if any, with respect to such Distribution Date over (ii) the amount of Excess Spread and Excess Finance Charge Collections allocated to Series 2012-5 with respect to the related Monthly Period shall be distributed
by the Trustee to fund any deficiency pursuant to and in the priority set forth in subsections 4.05(a)(i), (ii) and (iii); 

(b) an amount equal to the excess, if any, of (i) the Class B Required Amount, if any, with respect to such Distribution Date over
(ii) the amount of Excess Spread and Excess Finance Charge Collections allocated and available to the Class B Certificates pursuant to subsections 4.07(c) and (d) on such Distribution Date shall be applied first to fund any deficiency
pursuant to subsections 4.05(b)(i) and (ii) and then to fund any deficiency pursuant to and in the priority set forth in subsections 4.07(c) and (d); and 
 (c) an amount equal to the Collateral Senior Required Amount, if any, with respect to such Distribution Date shall be applied to fund any deficiency pursuant to subsection 4.05(c)(i) and subsection
4.07(f), in that order of priority; provided, however, that Reallocated Principal Collections shall only be applied pursuant to this subsection 4.08(c) to the extent the Collateral Invested Amount shall be no lower than the Collateral
Senior Invested Amount after giving effect to the related reduction in the Collateral Invested Amount. 
 All Reallocated
Principal Collections with respect to the Collateral Invested Amount shall be applied prior to applying any such Reallocated Principal Collections with respect to the Class B Invested Amount. Only Reallocated Principal Collections with respect to
the Collateral Invested Amount shall be applied pursuant to clauses (b) or (c) above. 
 On each Distribution Date,
the Collateral Invested Amount shall be reduced by the amount of Reallocated Principal Collections for such Distribution Date; provided, however, that the Collateral Invested Amount shall not be reduced below the Collateral Senior
Invested Amount in connection with the application of Reallocated Principal Collections pursuant to subsection 4.08(c). In the event that such reduction would cause the Collateral Invested Amount (after giving effect to any Collateral Charge-Offs
for such Distribution Date) to be a negative number, the Collateral Invested Amount (after giving effect to any Collateral Charge-Offs for such Distribution Date) shall be reduced to zero and the Class B Invested Amount shall be reduced by the
amount by which the Collateral Invested Amount would have been reduced below zero. In the event that the reallocation of Reallocated Principal Collections would cause the Class B Invested Amount (after giving effect to any Class B Investor
Charge-Offs for such Distribution Date) to be a negative number on any Distribution Date, Reallocated Principal Collections shall be reallocated on such Distribution Date in an aggregate amount not to exceed the amount which would cause the Class B
Invested Amount (after giving effect to any Class B Investor Charge-Offs for such Distribution Date) to be reduced to zero. References to “negative numbers” above shall be determined without regard to the requirement that the Invested
Amount of a Class not be reduced below zero. 
 Section 4.09. Excess Finance Charge Collections.
Series 2012-5 shall be an Excess Allocation Series. Subject to Section 4.05 of the Agreement, Excess Finance Charge Collections with respect to the Excess Allocation Series for any Distribution Date will be allocated to Series 2012-5 in an
amount equal to the product of (x) the aggregate amount of Excess Finance Charge Collections with respect to all the Excess Allocation Series for such Distribution Date and (y) a fraction, the numerator of which is the Finance Charge
Shortfall for Series 2012-5 for such Distribution Date and the denominator of which is the aggregate amount of Finance Charge Shortfalls for all the Excess Allocation Series for such Distribution Date. The
“Finance Charge Shortfall” for Series 2012-5 for any Distribution Date will 

  
 25 

 
be equal to the excess, if any, of (a) the full amount required to be paid, without duplication, pursuant to subsections 4.05(a), 4.05(b) and 4.05(c) and subsections 4.07(a) through
(j) on such Distribution Date and the full amount required to be paid, without duplication, pursuant to subsections 3.02(a)(iii) and 3.02(a)(iv) of the Transfer Agreement on the related Payment Date (as such term is defined in the Transfer
Agreement) over (b) the sum of (i) the Reallocated Investor Finance Charge Collections, (ii) if such Monthly Period relates to a Distribution Date with respect to the Controlled Accumulation Period or Early Amortization Period, the
amount of Principal Funding Account Investment Proceeds, if any, with respect to such Distribution Date and (iii) the amount of funds, if any, to be withdrawn from the Reserve Account which, pursuant to subsection 4.12(d), are required to be
included in Class A Available Funds with respect to such Distribution Date. The amount of Excess Finance Charge Collections for Series 2012-5 for any Distribution Date shall be specified in subsection 3.02(a)(v) of the Transfer Agreement. On
each Distribution Date, the Trustee shall deposit into the Collection Account for application in accordance with Section 4.05 of the Agreement the aggregate amount of Excess Finance Charge Collections received by the Trustee pursuant to the
Transfer Agreement on such date. 
 Section 4.10.
Reallocated Investor Finance Charge Collections. 
 (a) That portion of Group I Investor Finance
Charge Collections for any Distribution Date equal to the amount of Reallocated Investor Finance Charge Collections for such Distribution Date will be allocated to Series 2012-5 and will be distributed as set forth in this Supplement. 

(b) Reallocated Investor Finance Charge Collections with respect to any Distribution Date shall equal the sum of (i) the aggregate
amount of Series 2012-5 Monthly Interest, Investor Default Amount, Series 2012-5 Monthly Fees and Series 2012-5 Additional Amounts for such Distribution Date and (ii) that portion of excess Group I Investor Finance Charge Collections to be
included in Reallocated Investor Finance Charge Collections pursuant to subsection (c) hereof; provided, however, that if the amount of Group I Investor Finance Charge Collections for such Distribution Date is less than the sum of
(w) Group I Investor Monthly Interest, (x) Group I Investor Default Amount, (y) Group I Investor Monthly Fees and (z) Group I Investor Additional Amounts, then Reallocated Investor Finance Charge Collections shall equal the sum
of the following amounts for such Distribution Date: 
 (A) The product of (I) Group I Investor Finance
Charge Collections (up to the amount of Group I Investor Monthly Interest) and (II) a fraction, the numerator of which is Series 2012-5 Monthly Interest and the denominator of which is Group I Investor Monthly Interest; 

(B) the product of (I) Group I Investor Finance Charge Collections less the amount of Group I Investor Monthly
Interest (up to the Group I Investor Default Amount) and (II) a fraction, the numerator of which is the Investor Default Amount and the denominator of which is the Group I Investor Default Amount; 

(C) the product of (I) Group I Investor Finance Charge Collections less the amount of Group I Investor Monthly
Interest and the Group I Investor Default Amount (up to Group I Investor Monthly Fees) and (II) a fraction, the numerator of which is Series 2012-5 Monthly Fees and the denominator of which is Group I Investor Monthly Fees; and 

(D) the product of (I) Group I Investor Finance Charge Collections less the sum of (i) Group I Investor Monthly
Interest, (ii) the Group I Investor Default Amount and (iii) Group I Investor Monthly Fees and (II) a fraction, the numerator of which is Series 2012-5 Additional Amounts and the denominator of which is Group I Investor Additional Amounts.

  
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 (c) If the amount of Group I Investor Finance Charge Collections for such Distribution Date
exceeds the sum of (i) Group I Investor Monthly Interest, (ii) Group I Investor Default Amount, (iii) Group I Investor Monthly Fees and (iv) Group I Investor Additional Amounts, then Reallocated Investor Finance Charge
Collections for such Distribution Date shall include an amount equal to the product of (x) the amount of such excess and (y) a fraction, the numerator of which is the Invested Amount as of the last day of the second preceding Monthly
Period (or, for Series 2012-5 only, with respect to the first Distribution Date, as of the Closing Date) and the denominator of which is the sum of such Invested Amount and the aggregate invested amounts for all other Series included in Group I as
of such last day (or, for Series 2012-5 only, with respect to the first Distribution Date, as of the Closing Date). 

Section 4.11. Shared Principal Collections. Subject to Section 4.04 of the Agreement, Shared Principal
Collections for any Distribution Date will be allocated to Series 2012-5 in an amount equal to the product of (x) the aggregate amount of Shared Principal Collections with respect to all Principal Sharing Series for such Distribution Date and
(y) a fraction, the numerator of which is the Series 2012-5 Principal Shortfall for such Distribution Date and the denominator of which is the aggregate amount of Principal Shortfalls for all the Series which are Principal Sharing Series for
such Distribution Date. The “Series 2012-5 Principal Shortfall” will be equal to (a) for any Distribution Date with respect to the Revolving Period, zero, (b) for any Distribution Date with respect to the
Controlled Accumulation Period, the excess, if any, of the Controlled Deposit Amount with respect to such Distribution Date over the amount of Available Principal Collections for such Distribution Date (excluding any portion thereof attributable to
Shared Principal Collections), and (c) for any Distribution Date with respect to the Early Amortization Period, the excess, if any, of the Invested Amount over the amount of Available Principal Collections for such Distribution Date (excluding
any portion thereof attributable to Shared Principal Collections). 
 Section 4.12. Reserve Account. 

(a) The Servicer shall establish and maintain, in the name of the Trustee, on behalf of the Trust, for the benefit of the Series 2012-5
Certificateholders, an Eligible Deposit Account (the “Reserve Account”) bearing a designation clearly indicating that the funds deposited therein and the property credited thereto are held for the benefit of the Series 2012-5
Certificateholders. The Reserve Account shall initially be established with The Bank of New York Mellon. The Trustee shall possess all right, title and interest in all funds and property from time to time deposited in or credited to the Reserve
Account and in all proceeds thereof. The Reserve Account shall be under the sole dominion and control of the Trustee for the benefit of the Series 2012-5 Certificateholders. If at any time the Reserve Account ceases to be an Eligible Deposit
Account, the Trustee (or the Servicer on its behalf) shall within 10 Business Days (or such longer period, not to exceed 30 calendar days, as to which each Rating Agency shall consent) establish a new Reserve Account meeting the conditions specified
above as an Eligible Deposit Account, and shall transfer any cash or any investments to such new Reserve Account. The Trustee, at the direction of the Servicer, shall (i) make withdrawals from the Reserve Account from time to time in an amount
up to the Available Reserve Account Amount at such time, for the purposes set forth in this Supplement, and (ii) on each Distribution Date (from and after the Reserve Account Funding Date) prior to the termination of the Reserve Account make a
deposit into the Reserve Account in the amount specified in, and otherwise in accordance with, subsection 4.07(j). 
 (b) Funds
on deposit in the Reserve Account shall be invested at the written direction of the Servicer by the Trustee in Eligible Investments. Funds on deposit in the Reserve Account on any Transfer Date, after giving effect to any withdrawals from the
Reserve Account on such Transfer Date, shall be invested in such investments that will mature so that such funds will be available for withdrawal on or prior to the following Transfer Date. No such Eligible Investment shall be disposed of prior to
its maturity; provided, however, that the Trustee shall sell, liquidate or dispose of any such Eligible Investment if, prior to the maturity of such Eligible Investment, a default occurs in the payment of

  
 27 

 
principal, interest or any other amount with respect to such Eligible Investment; provided further, however, that the Servicer shall deliver prompt written notice to the Trustee of any
such default; and provided further that, subject to Section 11.01 of the Agreement, the Trustee will not in any way be held liable by reason of any insufficiency in such Reserve Account resulting from any loss on any Eligible Investment
included therein except for losses attributable to the Trustee’s failure to make payments on such Eligible Investments issued by the Trustee, in its commercial capacity, in accordance with their terms. On each Distribution Date, all interest
and earnings (net of losses and investment expenses) accrued since the preceding Distribution Date on funds on deposit in the Reserve Account shall be retained in the Reserve Account (to the extent that the Available Reserve Account Amount is less
than the Required Reserve Account Amount) and the balance, if any, shall be deposited in the Collection Account and treated as collections of Finance Charge Receivables allocable to Series 2012-5. For purposes of determining the availability of
funds or the balance in the Reserve Account for any reason under this Supplement, except as otherwise provided in the preceding sentence, investment earnings on such funds shall be deemed not to be available or on deposit. 

(c) On the Determination Date preceding each Distribution Date with respect to the Controlled Accumulation Period and the first Special
Payment Date, the Servicer shall calculate the “Reserve Draw Amount” which shall be equal to the excess, if any, of the Covered Amount with respect to such Distribution Date or Special Payment Date over the Principal
Funding Account Investment Proceeds with respect to such Distribution Date or Special Payment Date; provided, that such amount will be reduced to the extent that funds otherwise would be available for deposit in the Reserve Account under
subsection 4.07(j) with respect to such Distribution Date or Special Payment Date. 
 (d) In the event that for any Distribution
Date the Reserve Draw Amount is greater than zero, the Reserve Draw Amount, up to the Available Reserve Account Amount, shall be withdrawn from the Reserve Account on the related Transfer Date by the Trustee (acting in accordance with the
instructions of the Servicer), deposited into the Collection Account and included in Class A Available Funds for such Distribution Date. 
 (e) In the event that the Reserve Account Surplus on any Distribution Date, after giving effect to all deposits to and withdrawals from the Reserve Account with respect to such Distribution Date, is
greater than zero, the Trustee, acting in accordance with the written instructions of the Servicer, shall withdraw from the Reserve Account, and distribute to the Collateral Interest Holder, an amount equal to such Reserve Account Surplus.

 (f) Upon the earliest to occur of (i) the day on which the Invested Amount is paid in full to the Series 2012-5
Certificateholders, (ii) if the Controlled Accumulation Period has not commenced, the occurrence of a Pay-Out Event with respect to Series 2012-5, (iii) if the Controlled Accumulation Period has commenced, the earlier of the first Special
Payment Date and the Expected Final Payment Date and (iv) the termination of the Trust pursuant to the Agreement, the Trustee, acting in accordance with the instructions of the Servicer, after the prior payment of all amounts owing to the
Class A Certificateholders which are payable from the Reserve Account as provided herein, shall withdraw from the Reserve Account and pay to the Collateral Interest Holder all amounts, if any, on deposit in the Reserve Account and the Reserve
Account shall be deemed to have terminated for purposes of this Supplement. 
 Section 4.13.
Investment Instructions. 
 (a) Any investment instructions required to be given to the Trustee pursuant to the
terms hereof must be given to the Trustee no later than 10:30 a.m. (New York City time) on the date such investment is to be made. In the event the Trustee receives such investment instruction later than such time, the Trustee may, but shall have no
obligation to, make such investment. In the event the Trustee is unable to make an investment required in an investment instruction received by the Trustee after 10:30 

  
 28 

 
a.m. (New York City time) on such day, such investment shall be made by the Trustee on the next succeeding Business Day. In no event shall the Trustee be liable for any investment not made
pursuant to investment instructions received after 10:30 a.m. (New York City time) on the day such investment is requested to be made. 
 (b) The Trustee shall hold each Eligible Investment that constitutes investment property through a securities intermediary, which securities intermediary shall agree with the Trustee that (i) such
investment property at all times shall be credited to a securities account of the Trustee, (ii) all property credited to such securities account shall be treated as a financial asset, (iii) such securities intermediary shall treat the
Trustee as entitled to exercise the rights that comprise each financial asset credited to such securities account, (iv) such securities intermediary shall comply with entitlement orders originated by the Trustee without the further consent of
any other person or entity, (v) such securities intermediary shall not agree with any person or entity other than the Trustee to comply with entitlement orders originated by any person or entity other than the Trustee, (vi) such securities
account and all property credited thereto shall not be subject to any lien, security interest, right of set-off, or encumbrance in favor of such securities intermediary or anyone claiming through such securities intermediary (other than the
Trustee), (vii) such agreement between such securities intermediary and the Trustee shall be governed by the laws of the State of New York, and (viii) such securities intermediary’s jurisdiction for purposes of the Uniform Commercial
Code shall be the State of New York. The Trustee shall maintain possession of each other Eligible Investment in the State of New York, separate and apart from all other property held by the Trustee. Notwithstanding any other provision of this
Supplement, the Trustee shall not hold any Eligible Investment through an agent except as expressly permitted by this Section 4.13(b). Each term used in this Section 4.13(b) and defined in the New York Uniform Commercial Code shall have
the meaning set forth in the New York Uniform Commercial Code. 
 Section 4.14. [Reserved]. 

ARTICLE V 

Distributions and Reports to 
 Series 2012-5 Certificateholders 
 Section 5.01.
Distributions. 
 (a) On each Distribution Date, the Paying Agent shall distribute to each Class A Certificateholder
of record on the related Record Date (other than as provided in Section 12.02 of the Agreement) such Class A Certificateholder’s pro rata share of the amounts held by the Paying Agent that are allocated and available on such
Distribution Date to pay interest on the Class A Certificates pursuant to this Supplement. 
 (b) On each Special Payment
Date and on the Expected Final Payment Date, the Paying Agent shall distribute (in accordance with the Certificate delivered by the Servicer pursuant to Section 3.04(b) of the Agreement) to each Class A Certificateholder of record on the
related Record Date (other than as provided in Section 12.02 of the Agreement) such Class A Certificateholder’s pro rata share of the amounts on deposit in the Principal Funding Account or otherwise held by the Paying Agent
that are allocated and available on such date to pay principal of the Class A Certificates pursuant to this Supplement up to a maximum amount on any such date equal to the Class A Invested Amount on such date (unless there has been an
optional repurchase of the Series 2012-5 Certificateholders’ Interest pursuant to Section 10.01 of the Agreement, in which event the foregoing limitation will not apply). 

(c) On each Distribution Date, the Paying Agent shall distribute (in accordance with the Certificate delivered by the Servicer pursuant
to Section 3.04(b) of the Agreement) to each Class B Certificateholder of record on the related Record Date (other than as provided in Section 12.02 of the 

  
 29 

 
Agreement) such Class B Certificateholder’s pro rata share of the amounts held by the Paying Agent that are allocated and available on such Distribution Date to pay interest on the
Class B Certificates pursuant to this Supplement. 
 (d) On each Special Payment Date, and on the Expected Final Payment Date,
the Paying Agent shall distribute (in accordance with the Certificate delivered by the Servicer pursuant to Section 3.04(b) of the Agreement) to each Class B Certificateholder of record on the related Record Date (other than as provided in
Section 12.02 of the Agreement) such Class B Certificateholder’s pro rata share of the amounts on deposit in the Principal Funding Account or otherwise held by the Paying Agent that are allocated and available on such date to pay
principal of the Class B Certificates pursuant to this Supplement up to a maximum amount on any such date equal to the Class B Invested Amount on such date (unless there has been an optional repurchase of the Series 2012-5 Certificateholders’
Interest pursuant to Section 10.01 of the Agreement, in which event the foregoing limitation will not apply). 
 (e) On
each Distribution Date, the Trustee shall distribute to the Collateral Interest Holder the aggregate amount payable to the Collateral Interest Holder pursuant to Sections 4.05, 4.07, 4.12, 8.01 and 8.02 to the Collateral Interest Holder’s
account, as specified in writing by the Collateral Interest Holder, in immediately available funds. 
 (f) The distributions to
be made pursuant to this Section 5.01 are subject to the provisions of Sections 2.06, 9.02, 10.01 and 12.02 of the Agreement and Sections 8.01 and 8.02 of this Supplement. 

(g) Except as provided in Section 12.02 of the Agreement with respect to a final distribution, distributions to Series 2012-5
Certificateholders hereunder shall be made by check mailed to each Series 2012-5 Certificateholder at such Series 2012-5 Certificateholder’s address appearing in the Certificate Register without presentation or surrender of any Series 2012-5
Certificate or the making of any notation thereon; provided, however, that with respect to Series 2012-5 Certificates registered in the name of a Clearing Agency, such distributions shall be made to such Clearing Agency in immediately
available funds. 
 (h) The distributions to be made pursuant to this Section 5.01 are to be made pursuant to the written
instructions of the Servicer substantially in the form of Exhibit B. 
 Section 5.02.
Reports and Statements to Series 2012-5 Certificateholders. 
 (a) On each Distribution
Date, the Paying Agent, on behalf of the Trustee, shall forward to each Series 2012-5 Certificateholder a statement substantially in the form of Exhibit C-1 to this Supplement prepared by the Servicer and delivered to the Paying Agent.

 (b) Not later than each Determination Date, the Servicer shall deliver to the Trustee, the Paying Agent, the Transferors,
each Rating Agency and the Collateral Interest Holder (i) a statement substantially in the form of Exhibit C-1 to this Supplement prepared by the Servicer and (ii) a certificate of a Servicing Officer substantially in the form of
Exhibit D. 
 (c) A copy of each statement or certificate provided pursuant to paragraph (a) or (b) may be
obtained by any Series 2012-5 Certificateholder or any Certificate Owner thereof by a request in writing to the Servicer. 
 (d)
On or before January 31 of each calendar year, beginning with calendar year 2013, the Paying Agent, on behalf of the Trustee, shall furnish or cause to be furnished to each Person who at any time during the preceding calendar year was a Series
2012-5 Certificateholder, a statement substantially in the form of Exhibit C-2 to this Supplement prepared by the Servicer for such calendar 

  
 30 

 
year or the applicable portion thereof during which such Person was a Series 2012-5 Certificateholder, together with other information as is required to be provided by an issuer of indebtedness
under the Code. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Paying Agent pursuant to any requirements of the Code as from time to time in
effect. 
 ARTICLE VI 
 Pay-Out Events 
 Section 6.01. Pay-Out Events. If any
one of the following events shall occur with respect to the Series 2012-5 Certificates: 
 (a) the occurrence of an Insolvency
Event relating to any Transferor or other holder of the Original Transferor Certificate; 
 (b) the Trust becomes an investment
company within the meaning of the Investment Company Act; 
 (c) failure on the part of any Transferor (i) to make any
payment or deposit required by the terms of the Agreement or this Supplement on or before the date occurring five Business Days after the date such payment or deposit is required to be made therein or herein or (ii) duly to observe or perform
any other covenants or agreements of the Transferors set forth in the Agreement or this Supplement, which failure has a material adverse effect on the Series 2012-5 Certificateholders and which continues unremedied for a period of 60 days after the
date on which written notice of such failure, requiring the same to be remedied, shall have been given to such Transferor by the Trustee, or to the Transferors and the Trustee by any Holder of the Series 2012-5 Certificates; 

(d) any representation or warranty made by any Transferor in the Agreement or this Supplement, or any information contained in a computer
file or microfiche list required to be delivered by any Transferor pursuant to Section 2.01 or subsection 2.08(f) of the Agreement shall prove to have been incorrect in any material respect when made or when delivered, which continues to be
incorrect in any material respect for a period of 60 days after the date on which written notice of such failure, requiring the same to be remedied, shall have been given to such Transferor by the Trustee, or to such Transferor and the Trustee by
any Holder of the Series 2012-5 Certificates and as a result of which the interests of the Series 2012-5 Certificateholders are materially and adversely affected for such period; provided, however, that a Pay-Out Event pursuant to this
subsection 6.01(d) shall not be deemed to have occurred hereunder if a Transferor has accepted reassignment of the related Receivable, or all of such Receivables, if applicable, during such period (or such longer period not to exceed an additional
60 days as the Trustee may specify) in accordance with the provisions of the Agreement; 
 (e) a failure by a Transferor to
convey Receivables in Additional Accounts or Participation Interests to the Trust within five Business Days after the day on which it is required to convey such Receivables or Participation Interests pursuant to subsection 2.09(a) of the Agreement;

 (f) any Servicer Default which would have an Adverse Effect shall occur; 

(g) the average Series Adjusted Portfolio Yield for any three consecutive Monthly Periods is reduced to a rate which is less than the
average of the Base Rates for such period; 
 (h) the Class A Invested Amount, the Class B Invested Amount or the
Collateral Invested Amount shall not be paid in full on the Expected Final Payment Date; 

  
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 (i) a Transfer Restriction Event shall occur; 

(j) the occurrence of an Insolvency Event as defined in the Receivables Purchase Agreement relating to any Account Owner; or 

(k) a Transfer Restriction Event as defined in the Receivables Purchase Agreements shall occur between an Account Owner and the related
Transferor; 
 then, (A) in the case of any event described in subparagraph (c), (d) or (f), after the applicable grace period, if
any, set forth in such subparagraphs, either the Trustee or the Investor Certificateholders of this Series evidencing more than 50% of the aggregate unpaid principal amount of the Investor Certificates of this Series by notice then given in writing
to the Transferors and the Servicer (and to the Trustee if given by the Investor Certificateholders of this Series) may declare that a Pay-Out Event has occurred with respect to this Series as of the date of such notice; (B) in the case of any
event described in subparagraph (b), (e), (g) or (h), a Pay-Out Event shall occur with respect to this Series without any notice or other action on the part of the Trustee or the Investor Certificateholders of this Series immediately upon the
occurrence of such event; and (C) in the case of any event described in subparagraph (a), (i), (j) or (k), a Pay-Out Event shall occur with respect to this Series without any notice or other action on the part of the Trustee or the
Investor Certificateholders of this Series immediately upon the occurrence of such event (or, in the case of clause (y) below, immediately following the expiration of the 60-day grace period), but only to the extent that (x) as of the date
of such event, the average of the Monthly Receivables Percentage for the immediately preceding three Monthly Periods is equal to or greater than 10% or (y) as of the date of such event, the average of the Monthly Receivables Percentage for the
immediately preceding three Monthly Periods is less than 10%, and within 60 days following the occurrence of the related Insolvency Event or Transfer Restriction Event, the aggregate amount of Principal Receivables outstanding in the Trust does not
at least equal the Required Minimum Principal Balance (without giving effect to Principal Receivables attributable to the Transferor or the Account Owner with respect to which the Insolvency Event or the Transfer Restriction Event has occurred).

 ARTICLE VII 
 Optional Repurchase; Series Termination 
 Section 7.01.
Optional Repurchase. 
 (a) So long as a Transferor is the Servicer or an Affiliate of the Servicer, on any day
occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 2012-5 Certificateholders’ Interest, at a purchase price equal to
(i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which a
Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 2012-5 Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such
Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a
conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. 
 (b)
The Transferors shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferors intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferors
shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the

  
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Collection Amount in accordance with the foregoing, the Invested Amount for Series 2012-5 shall be reduced to zero and the Series 2012-5 Certificateholders shall have no further interest in the
Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b). 
 Section 7.02.
Series Termination. 
 (a) If, on the March 2018 Distribution Date, the Invested Amount (after giving effect to all
changes therein on such date) would be greater than zero, the Servicer, on behalf of the Trustee, shall, within the 40-day period which begins on such Distribution Date, solicit bids for the sale of Principal Receivables and the related Finance
Charge Receivables (or interests therein) in an amount equal to the Invested Amount at the close of business on the last day of the Monthly Period preceding the Series 2012-5 Termination Date (after giving effect to all distributions required to be
made on the Series 2012-5 Termination Date, except pursuant to this Section 7.02). Such bids shall require that such sale shall (subject to subsection 7.02(b)) occur on the Series 2012-5 Termination Date. No Transferor, any Affiliate thereof,
any agent thereof or any other party consolidated with such Transferor for purposes of United States generally accepted accounting principles shall be entitled to participate in such bidding process or to purchase the Receivables; provided,
however, that, to the extent the Collateral Interest Holder is not a Transferor, an Affiliate thereof, an agent thereof or any other party consolidated with a Transferor for purposes of United States generally accepted accounting principles,
the Collateral Interest Holder may participate in such bidding process. 
 (b) The Servicer, on behalf of the Trustee, shall
sell such Receivables (or interests therein) on the Series 2012-5 Termination Date to the bidder who made the highest cash purchase offer. The proceeds of any such sale shall be treated as Collections on the Receivables allocated to the Series
2012-5 Certificateholders pursuant to the Agreement and this Supplement; provided, however, that the Servicer shall determine conclusively the amount of such proceeds which are allocable to Finance Charge Receivables and the amount of such
proceeds which are allocable to Principal Receivables. During the period from the March 2018 Distribution Date to the Series 2012-5 Termination Date, the Servicer shall continue to collect payments on the Receivables and allocate and deposit such
Collections in accordance with the provisions of the Agreement and the Supplements. 
 ARTICLE VIII 

Final Distributions 
 Section 8.01. Sale of Receivables or Certificateholders’ Interest pursuant to Section 2.06 or 10.01 of the
Agreement and Section 7.01 or 7.02 of this Supplement. 
 (a) (i) The amount to
be paid by the Transferors with respect to Series 2012-5 in connection with a reassignment of Receivables to the Transferors pursuant to Section 2.06 of the Agreement shall equal the Reassignment Amount for the first Distribution Date following
the Monthly Period in which the reassignment obligation arises under the Agreement. 
 (ii) The amount to be paid
by the Transferors with respect to Series 2012-5 in connection with a repurchase of the Certificateholders’ Interest pursuant to Section 10.01 of the Agreement shall equal the sum of (x) the Reassignment Amount for the Distribution
Date of such repurchase and (y) the sum of (A) the excess, if any, of (I) a price equivalent to the average of bids quoted on the Record Date preceding the date of repurchase or, if not a Business Day, on the next succeeding Business
Day by at least two recognized dealers selected by the Trustee for the purchase by such dealers of a security which is similar to the Class A Certificates with a remaining maturity approximately equal to the remaining maturity of the
Class A Certificates and rated by each Rating 

  
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Agency in the rating category originally assigned to the Class A Certificates over (II) the portion of the Reassignment Amount attributable to the Class A Certificates and (B) the
excess, if any, of (I) a price equivalent to the average of bids quoted on such Record Date, or if not a Business Day, on the next succeeding Business Day by at least two recognized dealers selected by the Trustee for the purchase by such
dealers of a security which is similar to the Class B Certificates with a remaining maturity approximately equal to the remaining maturity of the Class B Certificates and rated by each Rating Agency in the rating category originally assigned to the
Class B Certificates over (II) the portion of the Reassignment Amount attributable to the Class B Certificates. 
 (b) With
respect to the Reassignment Amount deposited into the Collection Account pursuant to Section 7.01 or any amounts allocable to the Series 2012-5 Certificateholders’ Interest deposited into the Collection Account pursuant to
Section 7.02, the Trustee shall, in accordance with the written direction of the Servicer, not later than 12:00 noon, New York City time, on the related Distribution Date, make deposits or distributions of the following amounts (in the priority
set forth below and, in each case after giving effect to any deposits and distributions otherwise to be made on such date) in immediately available funds: (i) (x) the Class A Invested Amount on such Distribution Date will be
distributed to the Paying Agent for payment to the Class A Certificateholders and (y) an amount equal to the sum of (A) Class A Monthly Interest for such Distribution Date, (B) any Class A Monthly Interest previously
due but not distributed to the Class A Certificateholders on a prior Distribution Date and (C) the amount of Class A Additional Interest, if any, for such Distribution Date and any Class A Additional Interest previously due but
not distributed to the Class A Certificateholders on any prior Distribution Date, will be distributed to the Paying Agent for payment to the Class A Certificateholders, (ii) (x) the Class B Invested Amount on such Distribution
Date will be distributed to the Paying Agent for payment to the Class B Certificateholders and (y) an amount equal to the sum of (A) Class B Monthly Interest for such Distribution Date, (B) any Class B Monthly Interest previously due
but not distributed to the Class B Certificateholders on a prior Distribution Date and (C) the amount of Class B Additional Interest, if any, for such Distribution Date and any Class B Additional Interest previously due but not distributed to
the Class B Certificateholders on any prior Distribution Date, will be distributed to the Paying Agent for payment to the Class B Certificateholders and (iii) the balance, if any, will be distributed to the Collateral Interest Holder.

 (c) Notwithstanding anything to the contrary in this Supplement or the Agreement, all amounts distributed to the Paying Agent
pursuant to subsection 8.01(b) for payment to the Series 2012-5 Certificateholders shall be deemed distributed in full to the Series 2012-5 Certificateholders on the date on which such funds are distributed to the Paying Agent pursuant to this
Section and shall be deemed to be a final distribution pursuant to Section 12.02 of the Agreement. 
 Section 8.02.
Distribution of Proceeds of Sale, Disposition or Liquidation of the Receivables pursuant to Section 9.01 of the Agreement. 
 (a) Not later than 12:00 noon, New York City time, on the Distribution Date following the date on which the Insolvency Proceeds are deposited into the Collection Account pursuant to subsection 9.01(b) of
the Agreement, the Trustee shall in accordance with the written direction of the Servicer (in the following priority and, in each case, after giving effect to any deposits and distributions otherwise to be made on such Distribution Date)
(i) deduct an amount equal to the Class A Invested Amount on such Distribution Date from the portion of the Insolvency Proceeds allocated to Series 2012-5 Allocable Principal Collections and distribute such amount to the Paying Agent for
payment to the Class A Certificateholders, provided that the amount of such distribution shall not exceed the product of (x) the portion of the Insolvency Proceeds allocated to Series 2012-5 Allocable Principal Collections and (y) the
Principal Allocation Percentage with respect to the related Monthly Period, (ii) deduct an amount equal to the Class B Invested Amount on such Distribution Date from the portion of the Insolvency Proceeds allocated to Series 2012-5 Allocable
Principal Collections and distribute such amount to the Paying Agent 

  
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for payment to the Class B Certificateholders, provided that the amount of such distribution shall not exceed (x) the product of (A) the portion of such Insolvency Proceeds allocated to
Series 2012-5 Allocable Principal Collections and (B) the Principal Allocation Percentage with respect to the related Monthly Period minus (y) the amount distributed to the Paying Agent pursuant to clause (i) of this sentence
and (iii) distribute the remaining amount of the Insolvency Proceeds to the Collateral Interest Holder. 
 (b) Not later
than 12:00 noon, New York City time, on such Distribution Date, the Trustee shall in accordance with the written direction of the Servicer (in the following priority and, in each case, after giving effect to any deposits and distributions otherwise
to be made on such Distribution Date) (i) deduct an amount equal to the sum of (w) Class A Monthly Interest for such Distribution Date, (x) any Class A Monthly Interest previously due but not distributed to the Class A
Certificateholders on a prior Distribution Date and (y) the amount of Class A Additional Interest, if any, for such Distribution Date and any Class A Additional Interest previously due but not distributed to the Class A
Certificateholders on a prior Distribution Date from the portion of the Insolvency Proceeds allocated to Collections of Finance Charge Receivables and distribute such amount to the Paying Agent for payment to the Class A Certificateholders,
provided that the amount of such distribution shall not exceed the product of (x) the portion of the Insolvency Proceeds allocated to Series 2012-5 Allocable Finance Charge Collections, (y) the Floating Allocation Percentage with respect
to the related Monthly Period and (z) the Class A Floating Percentage with respect to such Monthly Period and (ii) deduct an amount equal to the sum of (w) Class B Monthly Interest for such Distribution Date, (x) Class B
Monthly Interest previously due but not distributed to the Class B Certificateholders on a prior Distribution Date and (y) the amount of Class B Additional Interest, if any, for such Distribution Date and any Class B Additional Interest
previously due but not distributed to the Class B Certificateholders on a prior Distribution Date from the portion of the Insolvency Proceeds allocated to Series 2012-5 Allocable Finance Charge Collections and distribute such amount to the Paying
Agent for payment to the Class B Certificateholders, provided that the amount of such distribution shall not exceed the product of (x) the portion of the Insolvency Proceeds allocated to Series 2012-5 Allocable Finance Charge Collections,
(y) the Floating Allocation Percentage with respect to the related Monthly Period and (z) the Class B Floating Percentage with respect to such Monthly Period. To the extent that the product of (A) the portion of the Insolvency
Proceeds allocated to Series 2012-5 Allocable Finance Charge Collections and (B) the Floating Allocation Percentage with respect to the related Monthly Period exceeds the aggregate amount distributed to the Paying Agent pursuant to the
preceding sentence, the excess shall be distributed to the Collateral Interest Holder. 
 (c) Notwithstanding anything to the
contrary in this Supplement or the Agreement, all amounts distributed to the Paying Agent pursuant to this Section for payment to the Series 2012-5 Certificateholders shall be distributed in full to the Series 2012-5 Certificateholders on the date
on which funds are distributed to the Paying Agent pursuant to this Section and shall be deemed to be a final distribution pursuant to Section 12.02 of the Agreement. 
 ARTICLE IX 
 Miscellaneous Provisions 

Section 9.01. Ratification of Agreement. As supplemented by this Supplement, the Agreement is in all respects
ratified and confirmed and the Agreement as so supplemented by this Supplement shall be read, taken and construed as one and the same instrument. 
 Section 9.02. Counterparts. This Supplement may be executed in two or more counterparts, and by different parties on separate counterparts, each of which shall be an original, but all of which
shall constitute one and the same instrument. 

  
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 Section 9.03. Governing Law. THIS SUPPLEMENT SHALL BE CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 

Section 9.04. [Reserved]. 
 Section 9.05. [Reserved]. 
 Section 9.06. Uncertificated
Securities. The Collateral Interest shall be delivered in uncertificated form. 
 Section 9.07. Transfers of the
Collateral Interest. 
 (a) Unless otherwise consented to by the Transferors, no portion of the Collateral Interest or any
interest therein may be sold, conveyed, assigned, hypothecated, pledged, participated, exchanged or otherwise transferred (each, a “Transfer”) except in accordance with this Section 9.07 and only to a Permitted Assignee. Any
attempted or purported transfer, assignment, exchange, conveyance, pledge, hypothecation or grant other than to a Permitted Assignee shall be void. Unless otherwise consented to by the Transferors, no portion of the Collateral Interest or any
interest therein may be Transferred to any Person (each such Person acquiring the Collateral Interest or any interest therein, an “Assignee”) unless such Assignee shall have executed and delivered to the Transferors on or before the
effective date of any Transfer a letter substantially in the form attached hereto as Exhibit E (an “Investment Letter”), executed by such Assignee, with respect to the related Transfer to such Assignee of all or a portion of
the Collateral Interest. 
 (b) Each Assignee will certify that the Collateral Interest or the interest therein purchased by
such Assignee will be acquired for investment only and not with a view to any public distribution thereof, and that such Assignee will not offer to sell or otherwise dispose of the Collateral Interest or any interest therein so acquired by it in
violation of any of the registration requirements of the Securities Act, or any applicable state or other securities laws. Each Assignee will acknowledge and agree that (i) it has no right to require the Transferors to register under the
Securities Act or any other securities law the Collateral Interest or the interest therein to be acquired by the Assignee and (ii) the sale of the Collateral Interest is not being made by means of the prospectus prepared in connection with the
sale of the Series 2012-5 Certificates. Each Assignee will agree with the Transferors that: (a) such Assignee will deliver to the Transferors an Investment Letter and (b) all of the statements made by such Assignee in its Investment Letter
shall be true and correct as of the date made. 
 (c) No portion of the Collateral Interest or any interest therein may be
Transferred to, and each Assignee will certify that it is not, (a) an “employee benefit plan” (as defined in Section 3(3) of ERISA and subject to Title I of ERISA), (b) any “plan” (as defined in and subject to
Section 4975 of the Code) including individual retirement accounts and Keogh plans, or (c) any other entity whose underlying assets include “plan assets” (within the meaning of U.S. Department of Labor Regulation
Section 2510.3-101, 29 C.F.R. § 2510.3-101, as modified by Section 3(42) of ERISA) by reason of a plan’s investment in the entity, including, without limitation, an insurance company general account. 

[The signature page follows this page.] 

  
 36 

 IN WITNESS WHEREOF, the undersigned have caused this Supplement to be duly executed and
delivered by their respective duly authorized officers on the day and year first above written. 
  

					
	 AMERICAN EXPRESS RECEIVABLES FINANCING CORPORATION II,

		 	as a Transferor
		
	By:	 	 /s/ Anderson Y. Lee

		 	Name:	 	Anderson Y. Lee
		 	Title:	 	President
	
	 AMERICAN EXPRESS RECEIVABLES FINANCING CORPORATION III LLC,

		 	as a Transferor
		
	By:	 	 /s/ Kevin L. Thompson

		 	Name:	 	Kevin L. Thompson
		 	Title:	 	President
	
	 AMERICAN EXPRESS RECEIVABLES FINANCING CORPORATION IV LLC,

		 	as a Transferor
		
	By:	 	 /s/ Denise D. Roberts

		 	Name:	 	Denise D. Roberts
		 	Title:	 	President
	
	 AMERICAN EXPRESS TRAVEL RELATED SERVICES COMPANY, INC.,

		 	as the Servicer
		
	By:	 	 /s/ David L. Yowan

		 	Name:	 	David L. Yowan
		 	Title:	 	Treasurer
	
	 THE BANK OF NEW YORK MELLON,

		 	as Trustee
		
	By:	 	 /s/ Michael D. Commisso

		 	Name:	 	Michael D. Commisso 
		 	Title:	 	Vice President

 [Signature page – Series 2012-5 Supplement] 

					
		 	FORM OF CLASS A CERTIFICATE	  	EXHIBIT A-1
			
	REGISTERED	 		  	$         1/
			
	No. R-            	 		  	CUSIP No. 02587U AB6

 Unless this Class A Certificate is presented by an authorized representative of The Depository Trust
Company, a New York corporation (“DTC”), to American Express Receivables Financing Corporation II, American Express Receivables Financing Corporation III LLC, American Express Receivables Financing Corporation IV LLC or their agent
for registration of transfer, exchange or payment, and any certificate issued is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC (and any payment is made to Cede &
Co. or to such other entity as is 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. 
 AMERICAN EXPRESS CREDIT ACCOUNT MASTER TRUST 

SERIES 2012-5 

CLASS A 0.59% ASSET BACKED CERTIFICATE 
 Expected Final Payment Date: 
 The October 2015 Distribution Date 

Each $100,000 minimum denomination represents a 
 1/6,000ths undivided interest 
 in Class A of the 

AMERICAN EXPRESS CREDIT ACCOUNT MASTER TRUST, SERIES 2012-5 
 Evidencing an undivided interest in certain assets of a trust, the corpus of which consists primarily of an interest in receivables generated from time to time in the ordinary course of business in a
portfolio of credit and charge accounts serviced by 
 AMERICAN EXPRESS TRAVEL RELATED SERVICES COMPANY, INC., 

and other assets and interests constituting Trust Assets under the Pooling and Servicing Agreement referred to below. 

(Not an interest in or obligation of American Express Travel Related Services Company, Inc., American Express Centurion Bank, American
Express Bank, FSB, American Express Receivables Financing Corporation II, American Express Receivables Financing Corporation III LLC, American Express Receivables Financing Corporation IV LLC or any of their respective affiliates) 

This certifies that CEDE & CO. (the “Class A Certificateholder”) is the registered owner of a fractional undivided interest in
certain assets of a trust (the “Trust”) created pursuant to the Pooling and Servicing Agreement, dated as of May 16, 1996, as amended and restated as of January 1, 2006 (as amended and

  
  

	1/	Denominations of $100,000 and integral multiples of $1,000 in excess thereof. 

  

 
restated and as otherwise amended and supplemented, the “Agreement”), as supplemented by the Series 2012-5 Supplement, dated as of November 8, 2012 (as amended and
supplemented, the “Supplement”), among American Express Receivables Financing Corporation II, American Express Receivables Financing Corporation III LLC and American Express Receivables Financing Corporation IV LLC, as transferors
(together, the “Transferors”), American Express Travel Related Services Company, Inc., as servicer, and The Bank of New York Mellon, a New York banking corporation, as trustee (the “Trustee”). The corpus of the
Trust consists of (i) the Transferors’ ownership interest in a portfolio of receivables (the “Receivables”) existing in credit and charge accounts identified under the Agreement from time to time (the
“Accounts”), (ii) all Receivables generated under the Accounts from time to time thereafter, (iii) funds collected or to be collected from cardmembers in respect of the Receivables, (iv) all funds which are from time
to time on deposit in the Collection Account, the Special Funding Account and any other Series Accounts and (v) all other assets and interests constituting the Trust. The Holder of this Certificate is entitled to the benefits of the
subordination of the Class B Certificates and the Collateral Interest to the extent provided in the Supplement. Although a summary of certain provisions of the Agreement and the Supplement is set forth below and in the Summary of Terms and
Conditions attached hereto and made a part hereof, this Class A Certificate does not purport to summarize the Agreement and the Supplement and reference is made to the Agreement and the Supplement for information with respect to the interests,
rights, benefits, obligations, proceeds and duties evidenced hereby and the rights, duties and obligations of the Trustee. A copy of the Agreement and the Supplement (without schedules) may be requested from the Trustee by writing to the Trustee at
the Corporate Trust Office. To the extent not defined herein, the capitalized terms used herein have the meanings ascribed to them in the Agreement or the Supplement, as applicable. 

This Class A Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement and the Supplement,
to which Agreement and Supplement, each as amended and supplemented from time to time, the Class A Certificateholder by virtue of the acceptance hereof assents and is bound. 

It is the intent of the Transferors and the Class A Certificateholder that, for federal, state and local income and franchise tax
purposes, the Class A Certificates will qualify as indebtedness of the Transferors secured by the Receivables. The Class A Certificateholder, by the acceptance of this Class A Certificate, agrees to treat this Class A Certificate
for federal, state and local income and franchise tax purposes as debt of the Transferors. 
 In general, payments of principal
with respect to the Class A Certificates are limited to the Class A Invested Amount, which may be less than the unpaid principal balance of the Class A Certificates. The Expected Final Payment Date is the October 2015 Distribution
Date, but principal with respect to the Class A Certificates may be paid earlier or later under certain circumstances described in the Agreement and the Supplement. If for one or more months during the Controlled Accumulation Period there are
not sufficient funds to pay the Controlled Deposit Amount, then to the extent that excess funds are not available on subsequent Distribution Dates with respect to the Controlled Accumulation Period to make up for such shortfalls, the final payment
of principal of the Class A Certificates will occur later than the Expected Final Payment Date. 
 Unless the certificate
of authentication hereon has been executed by or on behalf of the Trustee, by manual signature, this Class A Certificate shall not be entitled to any benefit under the Agreement or the Supplement or be valid for any purpose. 

  

					
		 	A-1-2	  	

 IN WITNESS WHEREOF, the Transferors have caused this Class A Certificate to be duly
executed. 
  

			
	AMERICAN EXPRESS RECEIVABLES FINANCING CORPORATION II
		
	By:	 	  

		 	Name:
		 	Title:
	
	AMERICAN EXPRESS RECEIVABLES FINANCING CORPORATION III LLC
		
	By:	 	  

		 	Name:
		 	Title:
	
	AMERICAN EXPRESS RECEIVABLES FINANCING CORPORATION IV LLC
		
	By:	 	  

		 	Name:
		 	Title:

 Dated: November 8, 2012 

  

					
		 	A-1-3	  	

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the American Express Credit Account Master Trust Series 2012-5 Class A Certificates described in the within-mentioned Agreement and
Supplement. 
  

			
	 THE BANK OF NEW YORK MELLON,
 as Trustee

		
	By:	 	  

		 	Authorized Signatory
		
		 	or
		
	By:	 	  

		 	as Authenticating Agent
		 	for the Trustee
		
	By:	 	  

		 	Authorized Signatory

  

					
		 	A-1-4	  	

 AMERICAN EXPRESS CREDIT ACCOUNT MASTER TRUST 

SERIES 2012-5 

CLASS A 0.59% ASSET BACKED CERTIFICATE 
 Summary of Terms and Conditions 
 The Receivables consist of Principal Receivables
which arise generally from the purchase of goods and services and amounts advanced to cardmembers as cash advances and Finance Charge Receivables. This Class A Certificate is one of a Series of Certificates entitled American Express Credit
Account Master Trust, Series 2012-5 (the “Series 2012-5 Certificates”), and one of a class thereof entitled Class A Series 2012-5 0.59% Asset Backed Certificates (the “Class A Certificates”), each of which
represents a fractional, undivided interest in certain assets of the Trust. The assets of the Trust are allocated in part to the investor certificateholders of all outstanding Series (the “Certificateholders’ Interest”) with
the remainder allocated to the Holders of the Transferor Certificates. The aggregate interest represented by the Class A Certificates at any time in the Principal Receivables in the Trust shall not exceed an amount equal to the Class A
Invested Amount at such time. The Class A Initial Invested Amount is $600,000,000. The Class A Invested Amount on any date will be an amount equal to (a) the Class A Initial Invested Amount, minus (b) the aggregate
amount of principal payments made to the Class A Certificateholder on or prior to such date, minus (c) the excess, if any, of the aggregate amount of Class A Investor Charge-Offs for all prior Distribution Dates over
Class A Investor Charge-Offs reimbursed pursuant to subsection 4.07(b) of the Supplement prior to such date. 
 Subject to
the terms and conditions of the Agreement, the Transferors may, from time to time, direct the Trustee, on behalf of the Trust, to issue one or more new Series of Investor Certificates, which will represent fractional, undivided interests in certain
of the Trust Assets. 
 On each Distribution Date, the Paying Agent shall distribute to each Class A Certificateholder of
record on the last day of the preceding calendar month (each a “Record Date”) such Class A Certificateholder’s pro rata share of such amounts (including amounts on deposit in the Collection Account and Principal
Funding Account) as are payable to the Class A Certificateholder pursuant to the Agreement and the Supplement. Distributions with respect to this Class A Certificate will be made by the Paying Agent by check mailed to the address of the
Class A Certificateholder of record appearing in the Certificate Register without the presentation or surrender of this Class A Certificate or the making of any notation thereon (except for the final distribution in respect of this
Class A Certificate) except that with respect to Class A Certificates registered in the name of Cede & Co., the nominee for The Depository Trust Company, distributions will be made in the form of immediately available funds. Final
payment of this Class A Certificate will be made only upon presentation and surrender of this Class A Certificate at the office or agency specified in the notice of final distribution delivered by the Trustee to the Series 2012-5
Certificateholders in accordance with the Agreement and the Supplement. 
 On any day occurring on or after the day on which the
Invested Amount is reduced to 5% or less of the Initial Invested Amount, the Transferors have the option to repurchase the Series 2012-5 Certificateholders’ Interest in the Trust. The repurchase price will be equal to (a) if such day is a
Distribution Date, the Reassignment Amount for such Distribution Date or (b) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. Following the deposit of the Reassignment Amount in the
Collection Account, Series 2012-5 Certificateholders will not have any interest in the Receivables and the Series 2012-5 Certificates will represent only the right to receive such Reassignment Amount. 

  

					
		 	A-1-5	  	

 This Class A Certificate does not represent an obligation of, or an interest in, the
Transferors or the Servicer or any affiliate of any of them and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency or instrumentality. This Class A Certificate is limited in right of
payment to certain Collections with respect to the Receivables (and certain other amounts), all as more specifically set forth hereinabove and in the Agreement and the Supplement. 

The Class A Certificates are issuable only in minimum denominations of $100,000 and integral multiples of $1,000. The transfer of
this Class A Certificate shall be registered in the Certificate Register upon surrender of this Class A Certificate for registration of transfer at any office or agency maintained by the Transfer Agent and Registrar accompanied by a
written instrument of transfer, in a form satisfactory to the Trustee or the Transfer Agent and Registrar, duly executed by the Class A Certificateholder or such Class A Certificateholder’s attorney, and duly authorized in writing
with such signature guaranteed, and thereupon one or more new Class A Certificates of authorized denominations and for the same aggregate fractional undivided interest will be issued to the designated transferee or transferees. 

As provided in the Agreement and subject to certain limitations therein set forth, Class A Certificates are exchangeable for new
Class A Certificates evidencing like aggregate fractional, undivided interests as requested by the Class A Certificateholder surrendering such Class A Certificates. No service charge may be imposed for any such exchange but the
Servicer or Transfer Agent and Registrar may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection therewith. 
 The Servicer, the Transferors, the Trustee, the Paying Agent and the Transfer Agent and Registrar and any agent of any of them, may treat the person in whose name this Class A Certificate is
registered as the owner hereof for all purposes, and none of the Servicer, the Transferors, the Trustee, the Paying Agent, the Transfer Agent and Registrar, or any agent of any of them, shall be affected by notice to the contrary except in certain
circumstances described in the Agreement. 
 THIS CLASS A CERTIFICATE SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE
STATE OF NEW YORK, WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 

  

					
		 	A-1-6	  	

 ASSIGNMENT 
 Social Security or other identifying number of assignee
                                        

 FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto 

 

	
	  

	(name and address of assignee)

 the within certificate and all rights thereunder, and hereby irrevocably constitutes and appoints
                    , attorney, to transfer said certificate on the books kept for registration thereof, with full power of substitution in
the premises. 
  

									
	Dated:	 	  
	 		 	  
	 	2/
					
		 		 		 	Signature Guaranteed:	 	
					
		 		 		 	  
	 	

  

	2/	 NOTE: The signature to this assignment must correspond with the name of the registered owner as it appears on the face of the within Certificate in
every particular, without alteration, enlargement or any change whatsoever. 

  

					
		 	A-1-7	  	

					
		 	FORM OF CLASS B CERTIFICATE	  	EXHIBIT A-2

 THIS CLASS B CERTIFICATE MAY NOT BE ACQUIRED BY OR FOR THE ACCOUNT OF PERSONS INVESTING ASSETS OF A BENEFIT PLAN (AS
DEFINED BELOW) OR AN INDIVIDUAL RETIREMENT ACCOUNT OTHER THAN BY INSURANCE COMPANIES INVESTING ASSETS SOLELY OF THEIR GENERAL ACCOUNTS. 
  

			
	REGISTERED	  	$        3/
		
	No. R-            	  	CUSIP No. 02587U AC4

 Unless this Class B Certificate is presented by an authorized representative of The Depository Trust
Company, a New York corporation (“DTC”), to American Express Receivables Financing Corporation II, American Express Receivables Financing Corporation III LLC, American Express Receivables Financing Corporation IV LLC or their agent
for registration of transfer, exchange or payment, and any certificate issued is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC (and any payment is made to Cede &
Co. or to such other entity as is 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. 
 AMERICAN EXPRESS CREDIT ACCOUNT MASTER TRUST 

SERIES 2012-5 

CLASS B 0.77% ASSET BACKED CERTIFICATE 
 Expected Final Payment Date: 
 The October 2015 Distribution Date 

Each $100,000 minimum denomination represents a 

1/410 72/100ths undivided interest 
 in Class B of the 
 AMERICAN EXPRESS CREDIT ACCOUNT MASTER TRUST, SERIES 2012-5

 Evidencing an undivided interest in certain assets of a trust, the corpus of which consists primarily of an interest in receivables generated
from time to time in the ordinary course of business in a portfolio of credit and charge accounts serviced by 
 AMERICAN EXPRESS
TRAVEL RELATED SERVICES COMPANY, INC., 
 and other assets and interests constituting Trust Assets under the Pooling and Servicing Agreement
referred to below. 
 (Not an interest in or obligation of American Express Travel Related Services Company, Inc., American
Express Centurion Bank, American Express Bank, FSB, American Express Receivables Financing Corporation II, American Express Receivables Financing Corporation III LLC, American Express Receivables Financing Corporation IV LLC or any of their
respective affiliates) 

  
  

	3/	Denominations of $100,000 and integral multiples of $1,000 in excess thereof. 

  

 This certifies that CEDE & CO. (the “Class B Certificateholder”) is the registered
owner of a fractional, undivided interest in certain assets of a trust (the “Trust”) created pursuant to the Pooling and Servicing Agreement, dated as of May 16, 1996, as amended and restated as of January 1, 2006 (as
amended and restated and otherwise amended and supplemented, the “Agreement”), as supplemented by the Series 2012-5 Supplement, dated as of November 8, 2012 (as amended and supplemented, the “Supplement”),
among American Express Receivables Financing Corporation II, American Express Receivables Financing Corporation III LLC and American Express Receivables Financing Corporation IV LLC, as transferors (together, the “Transferors”),
American Express Travel Related Services Company, Inc., as servicer, and The Bank of New York Mellon, a New York banking corporation, as trustee (the “Trustee”). The corpus of the Trust consists of (i) the Transferors’
ownership interest in a portfolio of receivables (the “Receivables”) existing in credit and charge accounts identified under the Agreement from time to time (the “Accounts”), (ii) all Receivables generated
under the Accounts from time to time thereafter, (iii) funds collected or to be collected from cardmembers in respect of the Receivables, (iv) all funds which are from time to time on deposit in the Collection Account, the Special Funding
Account, and any other Series Accounts and (v) all other assets and interests constituting the Trust. Although a summary of certain provisions of the Agreement and the Supplement is set forth below and in the Summary of Terms and Conditions
attached hereto and made a part hereof, this Class B Certificate does not purport to summarize the Agreement and the Supplement and reference is made to the Agreement and the Supplement for information with respect to the interests, rights,
benefits, obligations, proceeds and duties evidenced hereby and the rights, duties and obligations of the Trustee. A copy of the Agreement and the Supplement (without schedules) may be requested from the Trustee by writing to the Trustee at the
Corporate Trust Office. To the extent not defined herein, the capitalized terms used herein have the meanings ascribed to them in the Agreement or the Supplement, as applicable. 

This Class B Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement and the Supplement, to
which Agreement and Supplement, each as amended and supplemented from time to time, the Class B Certificateholder by virtue of the acceptance hereof assents and is bound. 
 No Class B Certificate may be acquired by or for the account of any employee benefit plan, trust or account, including an individual retirement account, that is subject to the Employee Retirement Income
Security Act of 1974, as amended, or that is described in Section 4975(e)(1) of the Internal Revenue Code of 1986, as amended, or an entity whose underlying assets include plan assets by reason of a plan’s investment in such entity (a
“Benefit Plan”), unless (i) such acquirer or holder is an insurance company, (ii) the source of funds used to acquire or hold such Certificate (or interest therein) is an “insurance company general account” (as defined
in U.S. Department of Labor Prohibited Transaction Class Exemption (“PTCE”) 95-60), and (iii) the conditions set forth in Sections I and III of PTCE 95-60 have been satisfied. By acquiring any interest in this Class B Certificate,
each applicable Certificate Owner shall be deemed to have represented and warranted either (i) that it is not a Benefit Plan and is not acting for the account of any Benefit Plan or (ii) that (1) it is an insurance company,
(2) the source of funds used to acquire or hold an interest in such Certificate is an “insurance company general account” (as such term is defined in PTCE 95-60), and (3) the conditions set forth in Sections I and III of PTCE
95-60 have been satisfied. 
 THIS CLASS B CERTIFICATE IS SUBORDINATED TO THE EXTENT NECESSARY TO FUND PAYMENTS ON THE CLASS
A CERTIFICATES TO THE EXTENT SPECIFIED IN THE SUPPLEMENT. 

  

					
		 	A-2-2	  	

 It is the intent of the Transferors and the Class B Certificateholder that, for federal,
state and local income and franchise tax purposes, the Class B Certificates will qualify as indebtedness of the Transferors secured by the Receivables. The Class B Certificateholder, by the acceptance of this Class B Certificate, agrees to treat
this Class B Certificate for federal, state and local income and franchise tax purposes as debt of the Transferors. 
 In
general, payments of principal with respect to the Class B Certificates are limited to the Class B Invested Amount, which may be less than the unpaid principal balance of the Class B Certificates. The Expected Final Payment Date is the October 2015
Distribution Date, but principal with respect to the Class B Certificates may be paid earlier or later under certain circumstances described in the Agreement and the Supplement. If for one or more months during the Controlled Accumulation Period
there are not sufficient funds to pay the Controlled Deposit Amount, then to the extent that excess funds are not available on subsequent Distribution Dates with respect to the Controlled Accumulation Period to make up for such shortfalls, the final
payment of principal of the Class B Certificates will occur later than the Expected Final Payment Date. 
 Unless the
certificate of authentication hereon has been executed by or on behalf of the Trustee, by manual signature, this Class B Certificate shall not be entitled to any benefit under the Agreement or the Supplement or be valid for any purpose. 

  

					
		 	A-2-3	  	

 IN WITNESS WHEREOF, the Transferors have caused this Class B Certificate to be duly
executed. 
  

			
	AMERICAN EXPRESS RECEIVABLES FINANCING CORPORATION II
		
	By:	 	  

		 	Name:
		 	Title:
	
	AMERICAN EXPRESS RECEIVABLES FINANCING CORPORATION III LLC
		
	By:	 	  

		 	Name:
		 	Title:
	
	AMERICAN EXPRESS RECEIVABLES FINANCING CORPORATION IV LLC
		
	By:	 	  

		 	Name:
		 	Title:

 Dated: November 8, 2012 

  

					
		 	A-2-4	  	

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the American Express Credit Account Master Trust Series 2012-5 Class B Certificates described in the within mentioned
Agreement and Supplement. 
  

			
	THE BANK OF NEW YORK MELLON,
	as Trustee
		
	By:	 	  

		 	Authorized Signatory
	
	or
		
	By:	 	  

		 	as Authenticating Agent
		 	for the Trustee
		
	By:	 	  

		 	Authorized Signatory

  

					
		 	A-2-5	  	

 AMERICAN EXPRESS CREDIT ACCOUNT MASTER TRUST 

SERIES 2012-5 

CLASS B 0.77% ASSET BACKED CERTIFICATE 
 Summary of Terms and Conditions 
 The Receivables consist of Principal Receivables
which arise generally from the purchase of goods and services and amounts advanced to cardmembers as cash advances and Finance Charge Receivables. This Class B Certificate is one of a Series of Certificates entitled American Express Credit Account
Master Trust, Series 2012-5 (the “Series 2012-5 Certificates”), and one of a class thereof entitled Class B Series 2012-5 0.77% Asset Backed Certificates (the “Class B Certificates”), each of which represents a
fractional, undivided interest in certain assets of the Trust. The assets of the Trust are allocated in part to the investor certificateholders of all outstanding Series (the “Certificateholders’ Interest”) with the remainder
allocated to the Holders of the Transferor Certificates. The aggregate interest represented by the Class B Certificates at any time in the Principal Receivables in the Trust shall not exceed an amount equal to the Class B Invested Amount at such
time. The Class B Initial Invested Amount is $41,072,000. The Class B Invested Amount on any date will be an amount equal to (a) the Class B Initial Invested Amount, minus (b) the aggregate amount of principal payments made to the
Class B Certificateholder on or prior to such date, minus (c) the excess, if any, of the aggregate amount of Class B Investor Charge-Offs for all prior Distribution Dates over Class B Investor Charge-Offs reimbursed, minus
(d) the amount of Reallocated Principal Collections allocated on all prior Distribution Dates pursuant to subsection 4.08(a) of the Supplement (excluding any Reallocated Principal Collections that have resulted in a reduction in the Collateral
Invested Amount pursuant to Section 4.08), minus (e) an amount equal to the amount by which the Class B Invested Amount has been reduced to cover the Class A Investor Default Amount on all prior Distribution Dates, and
plus (f) the amount of Excess Spread and Excess Finance Charge Collections allocated to Series 2012-5 and applied on all prior Distribution Dates for the purpose of reimbursing amounts deducted pursuant to the foregoing clauses (c),
(d) and (e); provided, however, that the Class B Invested Amount may not be reduced below zero. 
 Subject to the
terms and conditions of the Agreement, the Transferors may, from time to time, direct the Trustee, on behalf of the Trust, to issue one or more new Series of Investor Certificates, which will represent fractional, undivided interests in certain of
the Trust Assets. 
 On each Distribution Date, the Paying Agent shall distribute to each Class B Certificateholder of record on
the last day of the preceding calendar month (each a “Record Date”) such Class B Certificateholder’s pro rata share of such amounts (including amounts on deposit in the Collection Account and Principal Funding Account)
as are payable to the Class B Certificateholder pursuant to the Agreement and the Supplement. Distributions with respect to this Class B Certificate will be made by the Paying Agent by check mailed to the address of the Class B Certificateholder of
record appearing in the Certificate Register without the presentation or surrender of this Class B Certificate or the making of any notation thereon (except for the final distribution in respect of this Class B Certificate) except that with respect
to Class B Certificates registered in the name of Cede & Co., the nominee for The Depository Trust Company, distributions will be made in the form of immediately available funds. Final payment of this Class B Certificate will be made only
upon presentation and surrender of this Class B Certificate at the office or agency specified in the notice of final distribution delivered by the Trustee to the Series 2012-5 Certificateholders in accordance with the Agreement and the Supplement.

 On any day occurring on or after the day on which the Invested Amount is reduced to 5% or less of the Initial Invested
Amount, the Transferors have the option to repurchase the Series 2012-5 

  

					
		 	A-2-6	  	

 
Certificateholders’ Interest in the Trust. The repurchase price will be equal to (a) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or
(b) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date next following such day. Following the deposit of the Reassignment Amount in the Collection Account, Series 2012-5 Certificateholders will not have
any interest in the Receivables and the Series 2012-5 Certificates will represent only the right to receive such Reassignment Amount. 
 This Class B Certificate does not represent an obligation of, or an interest in, the Transferors or the Servicer or any affiliate of any of them and is not insured or guaranteed by the Federal Deposit
Insurance Corporation or any other governmental agency or instrumentality. This Class B Certificate is limited in right of payment to certain Collections with respect to the Receivables (and certain other amounts), all as more specifically set forth
hereinabove and in the Agreement and the Supplement. 
 The Class B Certificates are issuable only in minimum denominations
of $100,000 and integral multiples of $1,000. The transfer of this Class B Certificate shall be registered in the Certificate Register upon surrender of this Class B Certificate for registration of transfer at any office or agency maintained by the
Transfer Agent and Registrar accompanied by a written instrument of transfer, in a form satisfactory to the Trustee or the Transfer Agent and Registrar, duly executed by the Class B Certificateholder or such Class B Certificateholder’s
attorney, and duly authorized in writing with such signature guaranteed, and thereupon one or more new Class B Certificates of authorized denominations and for the same aggregate fractional undivided interest will be issued to the designated
transferee or transferees. 
 As provided in the Agreement and subject to certain limitations therein set forth, Class B
Certificates are exchangeable for new Class B Certificates evidencing like aggregate fractional undivided interests as requested by the Class B Certificateholder surrendering such Class B Certificates. No service charge may be imposed for any such
exchange but the Servicer or Transfer Agent and Registrar may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection therewith. 

The Servicer, the Transferors, the Trustee, the Paying Agent and the Transfer Agent and Registrar and any agent of any of them, may treat
the person in whose name this Class B Certificate is registered as the owner hereof for all purposes, and none of the Servicer, the Transferors, the Trustee, the Paying Agent, the Transfer Agent and Registrar, or any agent of any of them, shall be
affected by notice to the contrary except in certain circumstances described in the Agreement. 
 THIS CLASS B CERTIFICATE
SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS.

  

					
		 	A-2-7	  	

 ASSIGNMENT 
 Social Security or other identifying number of assignee                      

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto 

 

	
	  

	(name and address of assignee)

 the within certificate and all rights thereunder, and hereby irrevocably constitutes and appoints
                    , attorney, to transfer said certificate on the books kept for registration thereof, with full power of substitution in
the premises. 
  

									
	Dated:	 	  
	 		 	  
	 	4/
					
		 		 		 	Signature Guaranteed:	 	
					
		 		 		 	  
	 	

  

	4 /	 NOTE: The signature to this assignment must correspond with the name of the registered owner as it appears on the face of the within Certificate in
every particular, without alteration, enlargement or any change whatsoever. 

  

					
		 	A-2-8	  	

 EXHIBIT B 
 FORM OF MONTHLY PAYMENT INSTRUCTIONS AND 
 NOTIFICATION TO THE TRUSTEE 

 
  

AMERICAN EXPRESS CREDIT ACCOUNT MASTER TRUST 
 SERIES 2012-5 
  

 
 The
undersigned, a duly authorized representative of American Express Travel Related Services Company, Inc. (“TRS”), as Servicer pursuant to the Pooling and Servicing Agreement, dated as of May 16, 1996, as amended and restated as
of January 1, 2006 (as amended and restated and as otherwise amended and supplemented, the “Pooling and Servicing Agreement”), among TRS, American Express Receivables Financing Corporation II, American Express Receivables
Financing Corporation III LLC and American Express Receivables Financing Corporation IV LLC, as transferors (together, the “Transferors”), and The Bank of New York Mellon (formerly The Bank of New York), as trustee (the
“Trustee”), does hereby certify as follows: 
 1. Capitalized terms used in this Certificate have their
respective meanings set forth in the Pooling and Servicing Agreement or the Series 2012-5 Supplement, dated as of November 8, 2012, among TRS, the Transferors and the Trustee (as amended and supplemented, the “Supplement”), as
applicable. 
 2. TRS is the Servicer. 
 3. The undersigned is a Servicing Officer. 
  

	I.	INSTRUCTION TO MAKE A WITHDRAWAL 

Pursuant to subsections 4.05(a), (b) and (c), the Servicer does hereby instruct the Trustee (i) to make withdrawals from the
Collection Account on             ,         , which date is a Distribution Date under the Supplement, in the aggregate amounts (equal
to the Class A Available Funds, Class B Available Funds and Collateral Available Funds, respectively) as set forth below in respect of the following amounts and (ii) to apply the proceeds of such withdrawals in accordance with subsections
4.05(a), (b) and (c): 
  

									
	With respect to the Class A Certificates,	  			
			
	A)	  	Pursuant to subsection 4.05(a)(i):	  			
				
		  	(1)	  	 Interest at the Class A Certificate Rate for the related Interest Accrual Period on the Class A Invested
Amount
	  	$	            	  
				
		  	(2)	  	 Class A Monthly Interest previously due but not paid
	  	$	            	  
				
		  	(3)	  	 Class A Additional Interest and any Class A Additional Interest due but not paid
	  	$	            	  

  
 B-1

									
			
	B)	  	Pursuant to subsection 4.05(a)(ii):	  			
				
		  	(1)	  	 The Class A Servicing Fee for the preceding Monthly Period, if applicable
	  	$	            	  
				
		  	(2)	  	 Accrued and unpaid Class A Servicing Fees, if applicable
	  	$	            	  
			
	C)	  	Pursuant to subsection 4.05(a)(iii):	  			
				
		  	(1)	  	 Class A Investor Default Amount for the preceding Monthly Period
	  	$	            	  
		
	With respect to the Class B Certificates,	  			
			
	A)	  	Pursuant to subsection 4.05(b)(i):	  			
				
		  	(1)	  	 Interest at the Class B Certificate Rate for the related Interest Accrual Period on the Class B Invested
Amount
	  	$	            	  
				
		  	(2)	  	 Class B Monthly Interest previously due but not paid
	  	$	            	  
				
		  	(3)	  	 Class B Additional Interest and any Class B Additional Interest previously due but not paid
	  	$	            	  
			
	B)	  	Pursuant to subsection 4.05(b)(ii):	  			
				
		  	(1)	  	 The Class B Servicing Fee for the preceding Monthly Period, if applicable
	  	$	            	  
				
		  	(2)	  	 Accrued and unpaid Class B Servicing Fees, if applicable
	  	$	            	  
		
	With respect to the Collateral Interest	  			
			
	A)	  	Pursuant to subsection 4.05(c)(i):	  			
				
		  	(1)	  	 The Collateral Servicing Fee for the preceding Monthly Period, if applicable
	  	$	            	  
				
		  	(2)	  	 Accrued and unpaid Collateral Servicing Fees, if applicable
	  	$	            	  

  
 B-2

 Pursuant to subsections 4.05(d), (e) and (f), the Servicer hereby instructs the Trustee
(i) to make withdrawals from the Collection Account on                     , which date is a Distribution Date under the Supplement, in
the aggregate amounts (equal to the Available Principal Collections) as set forth below in respect of the following amounts and (ii) to apply the proceeds of such withdrawals in accordance with subsections 4.05(d), (e) and (f): 

 

									
	A)	  	Pursuant to subsection 4.05(d):	  			
				
		  	(1)	  	 Amount to be treated as Shared Principal Collections
	  	$	            	  
			
	B)	  	Pursuant to subsection 4.05(e):	  			
				
		  	(1)	  	 The lesser of the Controlled Deposit Amount and the sum of the Class A Adjusted Invested Amount and the Class B Adjusted
Invested Amount deposited in the Principal Funding Account
	  	$	            	  
				
		  	(2)	  	 After the Class B Invested Amount is paid in full, the amount paid to the Collateral Interest Holder (up to the Collateral
Invested Amount)
	  	$	            	  
				
		  	(3)	  	 Prior to the date the Class B Invested Amount is paid in full, amount to be treated as Shared Principal
Collections
	  	$	            	  
			
	C)	  	Pursuant to subsection 4.05(f):	  			
				
		  	(1)	  	 An amount up to the Class A Adjusted Invested Amount deposited in the Principal Funding Account
	  	$	            	  
				
		  	(2)	  	 On and after the Distribution Date on which the Class A Invested Amount is paid in full, an amount up to the Class B Invested
Amount deposited in the Principal Funding Account
	  	$	            	  
				
		  	(3)	  	 On and after the Distribution Date on which the Class B Invested Amount is paid in full, an amount up to the Collateral
Invested Amount distributed to the Collateral Interest Holder
	  	$	            	  

 Pursuant to Section 4.07, the Servicer does hereby instruct the Trustee to apply on
                    , which is a Distribution Date under the Supplement, any Excess Spread and Excess Finance Charge Collections allocated to
Series 2012-5 as follows: 
  

							
	 A)
	  	Pursuant to subsection 4.07(a):	  			
			
		  	 Class A Required Amount applied in the priority set forth in subsections 4.05(a)(i), (ii) and (iii)
	  	$	            	  
			
	 B)
	  	Pursuant to subsection 4.07(b):	  			
			
		  	 Aggregate amount of Class A Investor Charge-Offs not previously reimbursed allocated to Available Principal
Collections
	  	$	            	  

  
 B-3

									
			
	C)	  	Pursuant to subsection 4.07(c):	  			
			
		  	 Class B Required Amount applied in the priority set forth in subsections 4.05(b)(i)
	  	$	            	  
			
	D)	  	Pursuant to subsection 4.07(d):	  			
			
		  	 Interest accrued on aggregate outstanding principal balance of the Class B Certificates not otherwise distributed
to Class B Certificateholders pursuant to Section 4.07(c)
	  	$	            	  
			
	E)	  	Pursuant to subsection 4.07(d):	  			
			
		  	 Amount (up to the Class B Investor Default) to be applied as Available Principal Collections
	  	$	            	  
			
	F)	  	Pursuant to subsection 4.07(e):	  			
			
		  	 The amount by which the Class B Invested Amount has been reduced pursuant to clauses (c), (d) and (e) of the
definition thereof allocated to Available Principal Collections
	  	$	            	  
			
	G)	  	Pursuant to subsection 4.07(f):	  			
				
		  	(1)	  	 Collateral Senior Minimum Monthly Interest
	  	$	            	  
				
		  	(2)	  	 Collateral Senior Minimum Monthly Interest previously due but not paid
	  	$	            	  
				
		  	(3)	  	 Collateral Senior Additional Interest and any Collateral Senior Additional Interest previously due and not
paid
	  	$	            	  
			
	H)	  	Pursuant to subsection 4.07(g):	  			
			
		  	 Monthly Servicing Fee for such Distribution Date that has not been paid to the Servicer and any Monthly Servicing
Fee previously due but not paid to the Servicer
	  	$	            	  
			
	I)	  	Pursuant to subsection 4.07(h):	  			
			
		  	 Collateral Default Amount allocated to Available Principal Collections
	  	$	            	  
			
	J)	  	Pursuant to subsection 4.07(i):	  			
			
		  	 The amount by which the Collateral Invested Amount has been reduced pursuant to clauses (c), (d) and (e) of the
definition thereof allocated to Available Principal Collections
	  	$	            	  

  
 B-4

							
			
	K)	  	Pursuant to subsection 4.07(j):	  			
			
		  	 The excess of the Required Reserve Account Amount over the Available Reserve Amount deposited into the Reserve
Account
	  	$	            	  
			
	L)	  	Pursuant to subsection 4.07(k):	  			
			
		  	 Amount distributed to the Collateral Interest Holder
	  	$	            	  

 Pursuant to Section 4.08, the Servicer does hereby instruct the Trustee to apply on
                    , which is a Distribution Date under the Pooling and Servicing Agreement,
$             of Reallocated Principal Collections to fund any deficiencies in the Required Amount after applying Class A Available Funds, Class B Available Funds, Collateral Available
Funds, Excess Spread and Excess Finance Charge Collections thereto. 
  

	II.	INSTRUCTION TO MAKE CERTAIN PAYMENTS 

 Pursuant to Section 5.01 of the Series Supplement, the Servicer does hereby instruct the Trustee to pay in accordance with Section 5.01 from the Interest Funding Account or the Principal Funding
Account, as applicable, on                     , which date is a Payment Date under the Supplement, the following amounts as set forth below:

  

							
			
	A)	  	Pursuant to subsection 5.01(a):	  			
			
		  	 Interest to be distributed to Class A Certificateholders
	  	$	            	  
			
	B)	  	Pursuant to subsection 5.01(b):	  			
			
		  	 On the Expected Final Payment Date or a Special Payment Date, principal to be distributed to the Class A
Certificateholders
	  	$	            	  
			
	C)	  	Pursuant to subsection 5.01(c):	  			
			
		  	 Interest to be distributed to Class B Certificateholders
	  	$	            	  
			
	D)	  	Pursuant to subsection 5.01(d):	  			
			
		  	 On the Expected Final Payment Date or a Special Payment Date, on or after the date Class A Invested Amount is paid in full,
principal to be distributed to the Class B Certificateholders
	  	$	            	  
			
	E)	  	Pursuant to subsection 5.01(e):	  			
			
		  	 Aggregate amount to be distributed to the Collateral Interest Holder
	  	$	            	  

  
 B-5

	III.	ACCRUED AND UNPAID AMOUNTS 

After giving effect to the withdrawals and transfers to be made in accordance with this notice, the following amounts will be accrued and
unpaid with respect to all Monthly Periods preceding the current calendar month. 
  

							
			
	1.	  	Subsection 4.06(a):	  			
			
		  	 The aggregate amount of all unreimbursed Class A Investor Charge-Offs
	  	$	            	  
			
	2.	  	Subsection 4.06(a), (b) and 4.08(a):	  			
			
		  	 The aggregate amount by which the Class B Invested Amount has been reduced pursuant to clauses (c), (d) and (e) of the
definition thereof
	  	$	            	  
			
	3.	  	Subsection 4.06(a), (b), (c) and 4.08(a), (b) and (c):	  			
			
		  	 The aggregate amount by which the Collateral Invested Amount has been reduced pursuant to clauses (c), (d) and (e) of the
definition thereof
	  	$	            	  

 IN WITNESS WHEREOF, the undersigned has duly executed this Certificate this
     day of             ,     . 

 

			
	AMERICAN EXPRESS TRAVEL RELATED
	SERVICES COMPANY, INC., as Servicer
		
	By:	 	  

		 	Name:
		 	Title:

  
 B-6

 EXHIBIT C-1 
 FORM OF MONTHLY STATEMENT 
 AMERICAN EXPRESS CREDIT ACCOUNT MASTER TRUST

 SERIES 2012-5 
  

															
	 A. TRUST ACTIVITY
	  	  	 	TRUST
TOTALS	 	 	 	 	  	 	 
	 Record Date
	 	 	             	  	 				  			
	 Number of days in Monthly Period
	 	 	             	  	 				  			
	 Beginning Number of Accounts
	 	 	             	  	 				  			
	 Beginning Principal Receivable Balance, including any Additions or Removals, or Adjustments of Principal Receivables
during the Monthly Period
	 	$	            	  	 	 	                 	  	  	 	                 	  
	 a. Addition of Principal Receivables
	 	$	            	  	 				  			
	 b. Removal of Principal Receivables
	 	$	            	  	 				  			
	 c. Adjustments to Principal Receivables
	 	$	            	  	 				  			
	 Special Funding Account Balance
	 	$	            	  	 				  			
	 Beginning Total Principal Balance
	 	$	            	  	 				  			
	 Finance Charge Collections (excluding Recoveries)
	 	$	            	  	 				  			
	 Collections of Discount Option Receivables
	 	$	            	  	 				  			
	 Recoveries
	 	$	            	  	 				  			
	 Total Collections of Finance Charge Receivables
	 	$	            	  	 				  			
	 Total Collections of Principal Receivables
	 	$	            	  	 				  			
	 Monthly Payment Rate
	 	 	            	% 	 				  			
	 Defaulted Amount
	 	$	            	  	 				  			
	 Annualized Default Rate
	 	 	            	% 	 				  			
	 Annualized Default Rate, Net of Recoveries
	 	 	            	% 	 				  			
	 Trust Portfolio Yield
	 	 	            	% 	 				  			
	 New Principal Receivables
	 	$	            	  	 				  			
	 Ending Number of Accounts
	 	 	             	  	 				  			
	 Ending Principal Receivables Balance
	 	$	            	  	 				  			
	 Ending Required Minimum Principal Balance
	 	$	            	  	 				  			
	 Ending Transferor Amount
	 	$	            	  	 				  			
	 Ending Special Funding Account Balance
	 	$	            	  	 				  			
	 Ending Total Principal Balance
	 	$	            	  	 				  			
	
	 B. SERIES ALLOCATIONS
	 
	 Group Number
	 	 	             	  	 				  			
	 Invested Amount
	 	$	            	  	 				  			
	 Adjusted Invested Amount
	 	$	            	  	 				  			
	 Principal Funding Account Balance
	 	$	            	  	 				  			
	 Series Required Transferor Amount
	 	$	            	  	 				  			
	 Series Allocation Percentage
	 	 	            	% 	 				  			
	 Series Allocable Finance Charge Collections
	 	$	            	  	 				  			

  
 C-1-1

															
	 Series Allocable Recoveries
	 	$	            	  	  	 	                 	  	  	 	                 	  
	 Series Allocable Principal Collections
	 	$	            	  	  				  			
	 Series Allocable Defaulted Amount
	 	$	            	  	  				  			
	
	 C. GROUP ALLOCATIONS
	 
	 Group Number
	 	 	             	  	  				  			
	 Invested Amount
	 	$	            	  	  				  			
	 Investor Finance Charge Collections
	 	$	            	  	  				  			
	 Investor Monthly Interest
	 	$	            	  	  				  			
	 Investor Default Amount
	 	$	            	  	  				  			
	 Investor Monthly Fees
	 	$	            	  	  				  			
	 Investor Additional Amounts
	 	$	            	  	  				  			
	 Total
	 	$	            	  	  				  			
				
	 Reallocated Investor Finance Charge Collections
	 	$	            	  	  				  			
	 Investment Funding Account Proceeds
	 	$	            	  	  				  			
	 Available Excess
	 	$	            	  	  				  			
				
	 Group Investor Finance Charge Collections
	 	$	            	  	  				  			
	 Group Expenses
	 	$	            	  	  				  			
	 Group Reallocable Investor Finance Charge Collections
	 	$	            	  	  				  			
	
	 D. TRUST PERFORMANCE
	 
	 Delinquencies
	  		 				  				  			
		  	 31-60 Days Delinquent
	 	 	             	  	  				  			
		  	 61-90 Days Delinquent
	 	 	             	  	  				  			
		  	 90+ Days Delinquent
	 	 	             	  	  				  			
		  	 Total 30+ Days Delinquent
	 	 	             	  	  				  			

  
 C-1-2

 SERIES 2012-5 CERTIFICATES 

 

																	
	 A. INVESTOR/TRANSFEROR ALLOCATIONS
	  	SERIES
ALLOCATIONS	 	 	TOTAL
INVESTOR
INTEREST	 	 	TRANSFERORS’
INTEREST	 	 	 	 
	 Beginning Invested Amount/Transferor Amount
	  	$	            	  	 	$	            	  	 	$	            	  	 			
	 Beginning Adjusted Invested Amount
	  	$	            	  	 	$	            	  	 	$	            	  	 			
	 Floating Allocation Percentage
	  	 	              	% 	 	 	              	% 	 	 	              	% 	 			
	 Principal Allocation Percentage
	  	 	              	% 	 	 	              	% 	 	 	              	% 	 			
	 Collections of Finance Charge Receivables
	  	$	            	  	 	$	            	  	 	$	            	  	 			
	 Collections of Principal Receivables
	  	$	            	  	 	$	            	  	 	$	            	  	 			
	 Defaulted Amount
	  	$	            	  	 	$	            	  	 	$	            	  	 			
	 Ending Invested Amount/Transferor Amount
	  	$	            	  	 	$	            	  	 	$	            	  	 			
					
	 B. MONTHLY PERIOD FUNDING REQUIREMENTS
	  	CLASS A	 	 	CLASS B	 	 	COLLATERAL
INTEREST	 	 	TOTAL	 
	 Principal Funding Account Balance
	  	$	            	  	 	$	            	  	 	$	            	  	 	$	            	  
	 Investment Proceeds for Monthly Period
	  	$	            	  	 	$	            	  	 	$	            	  	 	$	            	  
	 Reserve Account Opening Balance
	  	$	            	  	 	$	            	  	 	$	            	  	 	$	            	  
	 Reserve Account Investment Proceeds retained per Section 4.12(b)
	  	$	            	  	 	$	            	  	 	$	            	  	 	$	            	  
	 Reserve Account Deposit
	  	$	            	  	 	$	            	  	 	$	            	  	 	$	            	  
	 Reserve Draw Amount
	  	$	            	  	 	$	            	  	 	$	            	  	 	$	            	  
	 Reserve Account Surplus (after giving effect to any principal distributions on the related Distribution Date)
	  	$	            	  	 	$	            	  	 	$	            	  	 	$	            	  
	 Reserve Account Closing Balance (after giving effect to any principal distributions on the related Distribution
Date)
	  	$	            	  	 	$	            	  	 	$	            	  	 	$	            	  
	 Required Reserve Account Amount
	  	$	            	  	 	$	            	  	 	$	            	  	 	$	            	  
	 Coupon (    /    /     to
    /    /    )
	  	 	              	% 	 	 	              	% 	 	 	              	% 	 	 	              	% 
	 Monthly Interest Due
	  	$	            	  	 	$	            	  	 	$	            	  	 	$	            	  

  
 C-1-3

																	
	 Outstanding Monthly Interest Due
	  	$	            	  	  	$	            	  	  	$	            	  	  	$	            	  
	 Additional Interest Due
	  	$	            	  	  	$	            	  	  	$	            	  	  	$	            	  
	 Total Interest Due
	  	$	            	  	  	$	            	  	  	$	            	  	  	$	            	  
	 Investor Default Amount
	  	$	            	  	  	$	            	  	  	$	            	  	  	$	            	  
	 Investor Monthly Fees Due
	  	$	            	  	  	$	            	  	  	$	            	  	  	$	            	  
	 Investor Additional Amounts Due
	  	$	            	  	  	$	            	  	  	$	            	  	  	$	            	  
	 Total Due
	  	$	            	  	  	$	            	  	  	$	            	  	  	$	            	  
					
	 Reallocated Investor Finance Charge Collections
	  				  				  				  	$	            	  
	 Interest and Principal Funding Investment Proceeds
	  				  				  				  	$	            	  
	 Interest on Reserve Account
	  				  				  				  	$	            	  
	 Series Adjusted Portfolio Yield
	  				  				  				  	 	              	% 
	 Base Rate
	  				  				  				  	 	              	% 
	 Excess Spread Percentage
	  				  				  				  	 	              	% 
					
	 C. CERTIFICATES – BALANCES AND DISTRIBUTIONS
	  	CLASS A	 	  	CLASS B	 	  	COLLATERAL
INTEREST	 	  	TOTAL	 
	 Beginning Certificates Balance
	  	$	            	  	  	$	            	  	  	$	            	  	  	$	            	  
	 Distributions of Interest
	  	$	            	  	  	$	            	  	  	$	            	  	  	$	            	  
	 Deposits to the Principal Funding Account
	  	$	            	  	  	$	            	  	  	$	            	  	  	$	            	  
	 Distributions of Principal
	  	$	            	  	  	$	            	  	  	$	            	  	  	$	            	  
	 Total Distributions
	  	$	            	  	  	$	            	  	  	$	            	  	  	$	            	  
	 Ending Certificates Balance
	  	$	            	  	  	$	            	  	  	$	            	  	  	$	            	  

  
 C-1-4

									
	D)	  	 Information regarding distributions on the Distribution Date in respect of the Class A Certificates per $1,000
original certificate principal amount.
	  			
				
		  	(1)	  	 The total amount of the distribution:
	  	$	            	  
				
		  	(2)	  	 The amount of the distribution in respect of Class A Monthly Interest:
	  	$	            	  
				
		  	(3)	  	 The amount of the distribution in respect of Class A Outstanding Monthly Interest:
	  	$	            	  
				
		  	(4)	  	 The amount of the distribution in respect of Class A Additional Interest:
	  	$	            	  
				
		  	(5)	  	 The amount of the distribution in respect of principal of the Class A Certificates:
	  	$	            	  
			
	E)	  	 Class A Investor Charge-Offs and Reimbursement of Class A Investor Charge-Offs.
	  			
				
		  	(1)	  	 The total amount of Class A Investor Charge-Offs:
	  	$	            	  
				
		  	(2)	  	 The amount of Class A Investor Charge-Offs per $1,000 original certificate principal amount:
	  	$	            	  
				
		  	(3)	  	 The total amount reimbursed in respect of Class A Investor Charge-Offs:
	  	$	            	  
				
		  	(4)	  	 The amount reimbursed in respect of Class A Investor Charge-Offs per $1,000 original certificate principal
amount:
	  	$	            	  
				
		  	(5)	  	 The amount, if any, by which the outstanding principal balance of the Class A Certificates exceeds the Class A Invested Amount
after giving effect to all transactions on such Distribution Date:
	  	$	            	  
			
	F)	  	 Information regarding distributions in respect of the Class B Certificates, per $1,000 original certificate
principal amount.
	  			
				
		  	(1)	  	 The total amount of the distribution in respect of Class B Certificates:
	  	$	            	  
				
		  	(2)	  	 The amount of the distribution in respect of Class B Monthly Interest:
	  	$	            	  

  
 C-1-5

									
		  	(3)	  	 The amount of the distribution in respect of Class B Outstanding Monthly Interest:
	  	$	            	  
				
		  	(4)	  	 The amount of the distribution in respect of Class B Additional Interest:
	  	$	            	  
				
		  	(5)	  	 The amount of the distribution in respect of principal of the Class B Certificates:
	  	$	            	  
			
	G)	  	 Amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B
Invested Amount on such Distribution Date.
	  			
				
		  	(1)	  	 The amount of reductions in Class B Invested Amount pursuant to clauses (c), (d) and (e) of the definition of Class B Invested
Amount:
	  	$	            	  
				
		  	(2)	  	 The amount of the reductions in the Class B Invested Amount per $1,000 original certificate principal amount:
	  	$	            	  
				
		  	(3)	  	 The total amount reimbursed in respect of such reductions in the Class B Invested Amount:
	  	$	            	  
				
		  	(4)	  	 The amount reimbursed in respect of such reductions in the Class B Invested Amount, per $1,000 original certificate principal
amount:
	  	$	            	  
				
		  	(5)	  	 The amount, if any, by which the outstanding principal balance of the Class B Certificates exceeds the Class B Invested Amount
after giving effect to all transactions on such Distribution Date:
	  	$	            	  
			
	H)	  	 Information regarding distributions on the Distribution Date to the Collateral Interest Holder.
	  			
				
		  	(1)	  	 The total amount distributed to the Collateral Interest Holder:
	  	$	            	  
				
		  	(2)	  	 The amount of the distribution in respect of Collateral Senior Minimum Monthly Interest:
	  	$	            	  
				
		  	(3)	  	 The amount of the distribution in respect of Collateral Senior Additional Interest:
	  	$	            	  
				
		  	(4)	  	 The amount distributed to the Collateral Interest Holder in respect of principal on the Collateral Invested
Amount:
	  	$	            	  

  
 C-1-6

									
		  	(5)	  	 The amount of the distribution to the Collateral Interest Holder in respect of remaining Excess Spread:
	  	$	            	  
			
	I)	  	 Amount of reductions in Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of
Collateral Invested Amount.
	  			
				
		  	(1)	  	 The amount of reductions in the Collateral Invested Amount pursuant to clauses (c), (d) and (e) of the definition of
Collateral Invested Amount:
	  	$	            	  
				
		  	(2)	  	 The total amount reimbursed in respect of such reductions in the Collateral Invested Amount:
	  	$	            	  

  
 C-1-7

															
	 J. APPLICATION OF REALLOCATED INVESTOR FINANCE CHARGE COLLECTIONS
	 
	 1. CLASS A AVAILABLE FUNDS
	  	 	                 	  	  	$	            	  	 	 	                 	  
	 a. Class A Monthly Interest

b. Class A Outstanding Monthly Interest

c. Class A Additional Interest

d. Class A Investor Default Amount (treated as
Available Principal Collections)

e. Excess Spread
	  				  	$	            	  	 			
	  				  	$	            	  	 			
	  				  	$	            	  	 			
	  				  	$	            	  	 			
	  				  	$	            	  	 			
	  				  	$	            	  	 			
	 2. CLASS B AVAILABLE FUNDS
	  				  	$	            	  	 			
	 a. Class B Monthly Interest
	  				  	$	            	  	 			
	 b. Class B Outstanding Monthly Interest
	  				  	$	            	  	 			
	 c. Class B Additional Interest
	  				  	$	            	  	 			
	 d. Excess Spread
	  				  	$	            	  	 			
	 3. COLLATERAL AVAILABLE FUNDS
	  				  	$	            	  	 			
	 a. Excess Spread
	  				  	$	            	  	 			
	 4. TOTAL EXCESS SPREAD
	  				  	$	            	  	 			
	
	 K. REALLOCATED PRINCIPAL
COLLECTIONS        
	 
	 1. Principal Allocation Percentage
	  				  	 	            	% 	 			
	 2. Series 2012-5 Allocable Principal Collections
	  				  	$	            	  	 			
	 3. Principal Allocation Percentage of Series 2012-5 Allocable Principal Collections
	  				  	$	            	  	 			
	 4. Reallocated Principal Collections Required to fund the Required Amount
	  				  	$	            	  	 			
	 5. Item 3 minus Item 4
	  				  	$	            	  	 			
	 6. Shared Principal Collections from other Series allocated to Series 2012-5
	  				  	$	            	  	 			
	 7. Other amounts treated as Available Principal Collections
	  				  	$	            	  	 			
	 8. Available Principal Collections (total of items 5, 6 and 7)
	  				  	$	            	  	 			
	
	 L. APPLICATION OF AVAILABLE PRINCIPAL COLLECTIONS DURING REVOLVING
PERIOD        
	 
	 1. Treated as Shared Principal Collections
	  				  	$	            	  	 			
	
	 M. APPLICATION OF PRINCIPAL COLLECTIONS DURING ACCUMULATION OR AMORTIZATION
PERIOD        
	 
	 1. Principal Funding Account
	  				  	$	            	  	 			
	 2. Excess of Collateral Invested Amount over Required Collateral Invested Amount
	  				  	$	            	  	 			
	 3. Distribution of Principal
	  				  	$	            	  	 			
	 4. Treated as Shared Principal Collections
	  				  	$	            	  	 			

  
 C-1-8

											
	 N. APPLICATION OF EXCESS SPREAD AND EXCESS FINANCE CHARGE COLLECTIONS ALLOCATED TO SERIES
2012-5

	 1. Excess Spread
	  		  	$	            	  	 	
	 2. Excess Finance Charge Collections
	  		  	$	            	  	 	
	 3. Applied to fund Class A Required Amount
	  		  	$	            	  	 	
	 4. Class A Investor Charge-Offs treated as Available Principal Collections
	  		  	$	            	  	 	
	 5. Applied to fund overdue Class B Interest
	  		  	$	            	  	 	
	 6. Applied to fund Class B Required Amount
	  		  	$	            	  	 	
	 7. Reduction of Class B Invested Amount treated as Available Principal Collections
	  		  	$	            	  	 	
	 8. Applied to Collateral Senior Minimum Monthly Interest
	  		  	$	            	  	 	
	 9. Applied to unpaid Monthly Servicing Fee
	  		  	$	            	  	 	
	 10. Collateral Default Amount treated as Available Principal Collections
	  		  	$	            	  	 	
	 11. Reduction of Collateral Invested Amount treated as Available Principal Collections
	  		  	$	            	  	 	
	 12. Deposited to Reserve Account
	  		  	$	            	  	 	
	 13. Remaining Excess Spread distributed to Collateral Interest Holder(s)
	  		  	$	            	  	 	
				
	 O. YIELD AND BASE RATE
	  	 	  	 	 	 	 
	 1. Base Rate
	  		  		  				 	
		  	 a. Current Monthly Period
	  		  	 	            	% 	 	
		  	 b. Prior Monthly Period
	  		  	 	            	% 	 	
		  	 c. Second Prior Monthly Period
	  		  	 	            	% 	 	
					
	 2. Three Month Average Base Rate
	  		  		  	 	            	% 	 	
	 3. Series Adjusted Portfolio Yield
	  		  		  				 	
		  	 a. Current Monthly Period
	  		  	 	            	% 	 	
		  	 b. Prior Monthly Period
	  		  	 	            	% 	 	
		  	 c. Second Prior Monthly Period
	  		  	 	            	% 	 	
	 4. Three Month average Series Adjusted Portfolio Yield
	  		  		  	 	            	% 	 	
	 5. Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?
	  		  		  	 	[Yes/No	] 	 	

  
 C-1-9

											
	 P. REASSIGNMENT AMOUNT
	  	 	 	  	 
	 Adjusted Invested Amount
	  		  	$	             	  	  	
	 Monthly Interest
	  		  	$	             	  	  	
	 Monthly Interest previously due but not paid
	  		  	$	             	  	  	
	 Additional Interest
	  		  	$	             	  	  	
	 Additional Interest previously due but not paid
	  		  	$	             	  	  	
	 Reassignment Amount
	  		  	$	             	  	  	

  
 C-1-10

 EXHIBIT C-2 
 FORM OF ANNUAL PAYMENT INFORMATION 
 AMERICAN EXPRESS CREDIT ACCOUNT MASTER TRUST

 SERIES 2012-5 
 FOR THE YEAR ENDED DECEMBER 31, 20[    ] 
 The undersigned, a
duly authorized representative of American Express Travel Related Services Company, Inc. (“TRS”), as Servicer pursuant to the Pooling and Servicing Agreement, dated as of May 16, 1996, as amended and restated as of January 1,
2006 (as amended and restated and as otherwise amended and supplemented, the “Pooling and Servicing Agreement”), among TRS, American Express Receivable Financing Corporation II, American Express Receivable Financing Corporation III LLC and
American Express Receivable Financing Corporation IV LLC, as transferors (together, the “Transferors”) and The Bank of New York Mellon, as trustee (the “Trustee”), does hereby certify as follows: 

Capitalized terms used in this Certificate have their respective meanings set forth in the Pooling and Servicing Agreement or the Series
2012-5 Supplement, dated as of November 8, 2012, among TRS, the Transferors and the Trustee (as amended and supplemented, the “Supplement”), as applicable. 
 Pursuant to Section 5.01 of the Series Supplement, the Servicer instructed the Trustee to pay in accordance with Section 5.01 from the Interest Funding Account or the Principal Funding Account,
as applicable, the following aggregate amounts during the year ended December 31, 20[    ]: 
  

							
	 A)
	  	 Pursuant to subsection 5.01(a):
	  			
			
		  	 Interest distributed to Class A Certificateholders
	  	$	            	  
			
	 B)
	  	 Pursuant to subsection 5.01(b):
	  			
			
		  	 On the Expected Final Payment Date or a Special Payment Date, if applicable, principal distributed to the Class A
Certificateholders
	  	$	            	  
			
	 C)
	  	 Pursuant to subsection 5.01(c):
	  			
			
		  	 Interest distributed to Class B Certificateholders
	  	$	            	  
			
	 D)
	  	 Pursuant to subsection 5.01(d):
	  			
			
		  	 On the Expected Final Payment Date or a Special Payment Date, if applicable, on or after the date Class A Invested Amount is
paid in full, principal distributed to the Class B Certificateholders
	  	$	            	  
			
	 E)
	  	 Pursuant to subsection 5.01(e):
	  			
			
		  	 Aggregate amount distributed to the Collateral Interest Holder in respect of interest
	  	$	            	  
			
		  	 Aggregate amount distributed to the Collateral Interest Holder in respect of principal
	  	$	            	  

  
 C-2-1

 IN WITNESS WHEREOF, the undersigned has duly executed this Certificate this [    ] day
of January, 20[    ]. 
  

			
	AMERICAN EXPRESS TRAVEL RELATED
	SERVICES COMPANY, INC., as Servicer
		
	By:	 	  

		 	Name:
		 	Title:

  
 C-2-2

 EXHIBIT D 
 FORM OF MONTHLY SERVICER’S CERTIFICATE 
 AMERICAN EXPRESS TRAVEL RELATED
SERVICES COMPANY, INC. 
 AMERICAN EXPRESS CREDIT ACCOUNT MASTER TRUST 

The undersigned, a duly authorized representative of American Express Travel Related Services Company, Inc., as Servicer
(“TRS”), pursuant to the Pooling and Servicing Agreement, dated as of May 16, 1996, as amended and restated as of January 1, 2006 (as amended and restated and as otherwise amended and supplemented, the
“Agreement”), as supplemented by the Series Supplements (as amended and supplemented, the “Series Supplements”), among TRS, as Servicer, American Express Receivables Financing Corporation II, American Express
Receivables Financing Corporation III LLC and American Express Receivables Financing Corporation IV LLC, as Transferors, and The Bank of New York Mellon, as Trustee, does hereby certify as follows: 

1. Capitalized terms used in this Certificate have their respective meanings as set forth in the Agreement or the Series Supplement, as
applicable. 
 2. TRS is, as of the date hereof, the Servicer under the Agreement. 

3. The undersigned is a Servicing Officer. 
 4. This Certificate relates to the Distribution Date occurring on                      ,
20     and covers activity from                      , 20     through
                     , 20    . 
 5. As of the date hereof, to the best knowledge of the undersigned, the Servicer has performed in all material respects all its obligations under the Agreement through the Monthly Period preceding such
Distribution Date [or, if there has been a default in the performance of any such obligation, set forth in detail the (i) nature of such default, (ii) the action taken by the Servicer, if any, to remedy such default and (iii) the
current status of each such default; if applicable, insert “None”]. 
 6. As of the date hereof, to the best knowledge
of the undersigned, no Pay Out Event occurred on or prior to such Distribution Date. 
 IN WITNESS WHEREOF, the undersigned has
duly executed and delivered this Certificate this      day of             , 20    . 

 

			
	AMERICAN EXPRESS TRAVEL RELATED
	 SERVICES COMPANY, INC.,
 as Servicer

		
	By:	 	  

		 	Name:
		 	Title:

  
 D-1

 EXHIBIT E 
 FORM OF INVESTMENT LETTER 
 [Date] 

 

	 	Re:	American Express Credit Account Master Trust; 

 Purchases of Series 2012-5 Collateral Interest 
 Ladies and Gentlemen: 

This letter (the “Investment Letter”) is delivered by the undersigned (the “Purchaser”) pursuant to Section 9.07
of the Series 2012-5 Supplement, dated as of November 8, 2012 (the “Series Supplement”) to the Pooling and Servicing Agreement, dated as of May 16, 1996, as amended and restated as of January 1, 2006 (as amended and restated
and as otherwise amended and supplemented, the “Agreement”), each among The Bank of New York Mellon, as Trustee, American Express Receivables Financing Corporation II, American Express Receivables Financing Corporation III LLC and American
Express Receivables Financing Corporation IV LLC, as Transferors, and American Express Travel Related Services Company, Inc., as Servicer. Capitalized terms used herein without definition shall have the meanings set forth in the Agreement. The
Purchaser represents to and agrees with the Transferors as follows: 
  

	 	(a)	The Purchaser has such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of its investment in the
Collateral Interest and is able to bear the economic risk of such investment. 

  

	 	(b)	The Purchaser is an “accredited investor,” as defined in Rule 501, promulgated by the Securities and Exchange Commission (the “Commission”) under
the Securities Act of 1933, as amended (the “Securities Act”), or is a sophisticated institutional investor. The Purchaser understands that the offering and sale of the Collateral Interest has not been and will not be registered under the
Securities Act and has not and will not be registered or qualified under any applicable “Blue Sky” law, and that the offering and sale of the Collateral Interest has not been reviewed by, passed on or submitted to any federal or state
agency or commission, securities exchange or other regulatory body. 

  

	 	(c)	The Purchaser is acquiring an interest in the Collateral Interest without a view to any distribution, resale or other transfer thereof except, with respect to any
Collateral Interest or any interest or participation therein, as contemplated in the following sentence. The Purchaser will not resell or otherwise transfer any interest or participation in the Collateral Interest, except in accordance with
Section 9.07 of the Series Supplement and (i) in a transaction exempt from the registration requirements of the Securities Act and applicable state securities or “blue sky” laws; (ii) to a Transferor or any affiliate of a
Transferor; or (iii) to a person who the Purchaser reasonably believes is a qualified institutional buyer (within the meaning thereof in Rule 144A under the Securities Act) that is aware that the resale or other transfer is being made in
reliance upon Rule 144A. In connection therewith, the Purchaser hereby agrees that it will not resell or otherwise transfer the Collateral Interest or any interest therein unless the purchaser thereof provides to the addressee hereof a letter
substantially in the form hereof. 

  
 E-1

	 	(d)	No portion of the Collateral Interest or any interest therein may be Transferred, and each Assignee will certify that it is not, (a) an “employee benefit
plan” (as defined in Section 3(3) of ERISA), including governmental plans and church plans, (b) any “plan” (as defined in Section 4975(e)(1) of the Code) including individual retirement accounts and Keogh plans, or
(c) any other entity whose underlying assets include “plan assets” (within the meaning of U.S. Department of Labor Regulation Section 2510.3-101, 29 C.F.R. § 2510.3-101 or otherwise under ERISA) by reason of a plan’s
investment in the entity, including, without limitation, an insurance company general account. 

  

	 	(e)	This Investment Letter has been duly executed and delivered and constitutes the legal, valid and binding obligation of the Purchaser, enforceable against the Purchaser
in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws or equitable principles affecting the enforcement of creditors’ rights generally and general
principles of equity. 

  

			
	Very truly yours,
	
	[NAME OF PURCHASER]
		
	By:	 	  

		 	Name:
		 	Title:

  

			
	AGREED TO AS OF THE DATE FIRST ABOVE WRITTEN:
	
	AMERICAN EXPRESS RECEIVABLES
	 FINANCING CORPORATION II,
 as Transferor

		
	By:	 	  

		 	Name:
		 	Title:
	
	AMERICAN EXPRESS RECEIVABLES
	 FINANCING CORPORATION III LLC,
 as Transferor

		
	By:	 	  

		 	Name:
		 	Title:
	
	AMERICAN EXPRESS RECEIVABLES
	 FINANCING CORPORATION IV LLC,
 as Transferor

		
	By:	 	  

		 	Name:
		 	Title:

  
 E-2Credit Agreement, dated August 3, 2012

 Exhibit 10.1 
 EXECUTION VERSION 
  
  

 
 FOSTER WHEELER LLC

 FOSTER WHEELER INC. 
 FOSTER WHEELER USA CORPORATION 
 FOSTER WHEELER NORTH AMERICA CORP.

 FOSTER WHEELER ENERGY CORPORATION 
 FOSTER WHEELER INTERNATIONAL CORPORATION 
 as Borrowers 

 
  

CREDIT AGREEMENT 
 Dated as of August 3, 2012 
  

 
 BNP PARIBAS

 as Administrative Agent 
 and 
 BNP PARIBAS SECURITIES CORP. 

as Sole Bookrunner 

and 
 BNP
PARIBAS SECURITIES CORP., 
 UNION BANK, N.A., 
 HSBC BANK USA, NATIONAL ASSOCIATION, and 
 WELLS FARGO SECURITIES,
LLC 
 as Joint Lead Arrangers 
 and 
 UNION BANK, N.A., 

HSBC BANK USA, NATIONAL ASSOCIATION, and 
 WELLS FARGO BANK, NATIONAL ASSOCIATION 
 as Syndication Agents 

and 

CRÉDIT AGRICOLE CORPORATE & INVESTMENT BANK, 

LLOYDS TSB BANK PLC, and 
 PNC BANK, NATIONAL ASSOCIATION 
 as Documentation Agents. 

 
  

$750,000,000 
  

 
  

 
  

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
	
	ARTICLE I	  
	
	DEFINITIONS	  
			
	 SECTION 1.01.
	  	 Defined Terms
	  	 	1	  
	 SECTION 1.02.
	  	 Classification of Loans and Borrowings
	  	 	29	  
	 SECTION 1.03.
	  	 Terms Generally
	  	 	29	  
	 SECTION 1.04.
	  	 Accounting Terms; GAAP
	  	 	30	  
	 SECTION 1.05.
	  	 Currencies; Currency Equivalents
	  	 	30	  
	
	ARTICLE II	  
	
	LOAN COMMITMENTS	  
			
	 SECTION 2.01.
	  	 Revolving Credit Commitments
	  	 	31	  
	 SECTION 2.02.
	  	 Loans and Borrowings
	  	 	32	  
	 SECTION 2.03.
	  	 Requests for Borrowings
	  	 	33	  
	 SECTION 2.04.
	  	 Swingline Loans
	  	 	34	  
	 SECTION 2.05.
	  	 Letters of Credit
	  	 	35	  
	 SECTION 2.06.
	  	 Funding of Revolving Credit and Incremental Loan Borrowings
	  	 	41	  
	 SECTION 2.07.
	  	 Interest Elections
	  	 	41	  
	 SECTION 2.08.
	  	 Termination, Reduction and Increase of Revolving Credit Commitments
	  	 	43	  
	 SECTION 2.09.
	  	 Extension of Commitment Termination Date
	  	 	45	  
	 SECTION 2.10.
	  	 Repayment of Loans; Evidence of Debt
	  	 	47	  
	 SECTION 2.11.
	  	 Prepayment of Loans
	  	 	49	  
	 SECTION 2.12.
	  	 Fees
	  	 	52	  
	 SECTION 2.13.
	  	 Interest
	  	 	54	  
	 SECTION 2.14.
	  	 Alternate Rate of Interest
	  	 	54	  
	 SECTION 2.15.
	  	 Increased Costs
	  	 	55	  
	 SECTION 2.16.
	  	 Break Funding Payments
	  	 	56	  
	 SECTION 2.17.
	  	 Insufficient Funds; Ratable Treatment; Sharing of Payments
	  	 	57	  
	 SECTION 2.18.
	  	 Replacement of Lenders
	  	 	58	  
	 SECTION 2.19.
	  	 Defeasance of Letters of Credit
	  	 	60	  
	
	ARTICLE III	  
	
	DEFAULTING LENDERS	  
	
	ARTICLE IV	  
	
	GUARANTEE BY GUARANTORS	  
			
	 SECTION 4.01.
	  	 The Guarantee
	  	 	63	  
	 SECTION 4.02.
	  	 Obligations Unconditional
	  	 	63	  

  
 (i)

							
	 SECTION 4.03.
	  	Reinstatement	  	 	64	  
	 SECTION 4.04.
	  	Subrogation	  	 	65	  
	 SECTION 4.05.
	  	Remedies	  	 	65	  
	 SECTION 4.06.
	  	Instrument for the Payment of Money	  	 	65	  
	 SECTION 4.07.
	  	Continuing Guarantee	  	 	65	  
	 SECTION 4.08.
	  	Rights of Contribution	  	 	65	  
	 SECTION 4.09.
	  	Limitation on Guarantee Obligations	  	 	66	  
		
	ARTICLE V	  			
		
	REPRESENTATIONS AND WARRANTIES	  			
			
	 SECTION 5.01.
	  	Organization; Powers	  	 	67	  
	 SECTION 5.02.
	  	Authorization; Enforceability	  	 	67	  
	 SECTION 5.03.
	  	Governmental Approvals; No Conflicts	  	 	67	  
	 SECTION 5.04.
	  	Financial Condition; No Material Adverse Change	  	 	68	  
	 SECTION 5.05.
	  	Properties	  	 	68	  
	 SECTION 5.06.
	  	Litigation and Environmental Matters	  	 	68	  
	 SECTION 5.07.
	  	Compliance with Laws and Agreements	  	 	69	  
	 SECTION 5.08.
	  	Investment Company Status	  	 	69	  
	 SECTION 5.09.
	  	Taxes	  	 	69	  
	 SECTION 5.10.
	  	ERISA	  	 	69	  
	 SECTION 5.11.
	  	Disclosure	  	 	69	  
	 SECTION 5.12.
	  	Labor Matters	  	 	70	  
	 SECTION 5.13.
	  	Subsidiaries, Etc.	  	 	70	  
	 SECTION 5.14.
	  	Margin Stock	  	 	70	  
	 SECTION 5.15.
	  	Commercial Activity; Absence of Immunity	  	 	70	  
	 SECTION 5.16.
	  	OFAC	  	 	70	  
		
	ARTICLE VI	  			
		
	CONDITIONS	  			
			
	 SECTION 6.01.
	  	Effectiveness	  	 	71	  
	 SECTION 6.02.
	  	Each Extension of Credit	  	 	73	  
		
	ARTICLE VII	  			
		
	AFFIRMATIVE COVENANTS	  			
			
	 SECTION 7.01.
	  	Financial Statements and Other Information	  	 	73	  
	 SECTION 7.02.
	  	Notices of Material Events	  	 	75	  
	 SECTION 7.03.
	  	Existence; Conduct of Business	  	 	76	  
	 SECTION 7.04.
	  	Payment of Obligations	  	 	76	  
	 SECTION 7.05.
	  	Maintenance of Properties; Insurance	  	 	76	  
	 SECTION 7.06.
	  	Books and Records; Inspection Rights	  	 	76	  
	 SECTION 7.07.
	  	Governmental Approvals	  	 	77	  
	 SECTION 7.08.
	  	Compliance with Laws	  	 	77	  
	 SECTION 7.09.
	  	Use of Proceeds	  	 	77	  

  
 (ii)

							
	 SECTION 7.10.
	  	 Certain Obligations Respecting Subsidiaries
	  	 	77	  
	
	ARTICLE VIII	  
	
	NEGATIVE COVENANTS	  
			
	 SECTION 8.01.
	  	 Indebtedness
	  	 	79	  
	 SECTION 8.02.
	  	 Liens
	  	 	82	  
	 SECTION 8.03.
	  	 Sale and Leaseback Transactions
	  	 	84	  
	 SECTION 8.04.
	  	 Fundamental Changes
	  	 	84	  
	 SECTION 8.05.
	  	 Investments, Loans, Advances, Guarantees and Acquisitions; Hedging Agreements
	  	 	85	  
	 SECTION 8.06.
	  	 Restricted Payments
	  	 	88	  
	 SECTION 8.07.
	  	 Transactions with Affiliates
	  	 	88	  
	 SECTION 8.08.
	  	 Restrictive Agreements
	  	 	89	  
	 SECTION 8.09.
	  	 Certain Financial Covenants
	  	 	90	  
	 SECTION 8.10.
	  	 Lines of Business
	  	 	90	  
	 SECTION 8.11.
	  	 Changes to Fiscal Year
	  	 	90	  
	 SECTION 8.12.
	  	 Parent, FWL and Holdco
	  	 	90	  
	
	ARTICLE IX	  
	
	EVENTS OF DEFAULT	  
	
	ARTICLE X	  
	
	THE ADMINISTRATIVE AGENT	  
	
	ARTICLE XI	  
	
	MISCELLANEOUS	  
			
	 SECTION 11.01.
	  	 Notices
	  	 	96	  
	 SECTION 11.02.
	  	 Waivers; Amendments
	  	 	98	  
	 SECTION 11.03.
	  	 Expenses; Indemnity; Damage Waiver
	  	 	100	  
	 SECTION 11.04.
	  	 Taxes
	  	 	102	  
	 SECTION 11.05.
	  	 Payments; Currency
	  	 	106	  
	 SECTION 11.06.
	  	 Mitigation Obligations
	  	 	107	  
	 SECTION 11.07.
	  	 Reallocation of Exposures
	  	 	107	  
	 SECTION 11.08.
	  	 Successors and Assigns
	  	 	108	  
	 SECTION 11.09.
	  	 Survival
	  	 	113	  
	 SECTION 11.10.
	  	 Counterparts; Integration; Effectiveness
	  	 	113	  
	 SECTION 11.11.
	  	 Severability
	  	 	113	  
	 SECTION 11.12.
	  	 Right of Setoff
	  	 	113	  
	 SECTION 11.13.
	  	 Governing Law; Jurisdiction; Consent to Service of Process
	  	 	114	  
	 SECTION 11.14.
	  	 WAIVER OF JURY TRIAL
	  	 	115	  
	 SECTION 11.15.
	  	 Judgment Currency
	  	 	115	  
	 SECTION 11.16.
	  	 No Immunity
	  	 	116	  

  
 (iii)

							
	 SECTION 11.17.
	  	 Treatment of Certain Information; Confidentiality
	  	 	116	  
	 SECTION 11.18.
	  	 Headings
	  	 	117	  
	 SECTION 11.19.
	  	 USA PATRIOT Act
	  	 	117	  

 SCHEDULES: 

Schedule 1.01(a) – Commitments 
 Schedule
1.01(b) – Performance Letters of Credit 
 Schedule 5.13 – Subsidiaries 
 Schedule 8.01 – Existing Indebtedness 
 Schedule 8.02 – Existing Liens 

Schedule 8.05 – Existing Investments 

Schedule 8.07 – Certain Existing Affiliate Transactions 
 Schedule 8.08 – Existing Restrictions 
 EXHIBITS: 

 

			
	Exhibit A	  	– Form of Assignment and Assumption
	Exhibit B-1	  	– Form of Opinion of Counsel to the Obligors
	Exhibit B-2	  	– Form of Opinion of Assistant General Counsel-Corporate
	Exhibit C	  	– Form of Opinion of Special Counsel
	Exhibit D	  	– Form Joinder Agreement
	Exhibit E	  	– Form of Solvency Certificate
	Exhibit F	  	– Form of Notice Designating Existing Letters of Credit
	Exhibit G-1	  	– Form of U.S. Tax Compliance Certificate (For Foreign Lenders that are not Partnerships for U.S. Federal Income Tax Purposes)
	Exhibit G-2	  	– Form of U.S. Tax Compliance Certificate (For Foreign Participants that are not Partnerships for U.S. Federal Income Tax Purposes)
	Exhibit G-3	  	– Form of U.S. Tax Compliance Certificate (For Foreign Participants that are Partnerships for U.S. Federal Income Tax Purposes)
	Exhibit G-4	  	– Form of U.S. Tax Compliance Certificate (For Foreign Lenders that are Partnerships for U.S. Federal Income Tax Purposes)
	Exhibit H	  	– Subordination Provisions

  
 (iv)

 CREDIT AGREEMENT dated as of August 3, 2012, between FOSTER WHEELER LLC (the
“Company”), FOSTER WHEELER INC., FOSTER WHEELER USA CORPORATION, FOSTER WHEELER NORTH AMERICA CORP., FOSTER WHEELER ENERGY CORPORATION and FOSTER WHEELER INTERNATIONAL CORPORATION (each a “Borrower” and,
collectively, the “Borrowers”), FOSTER WHEELER AG (the “Parent”), FOSTER WHEELER LTD. (“FWL”), FOSTER WHEELER HOLDINGS LTD. (“Holdco”), the SUBSIDIARY GUARANTORS (as defined below),
the Lenders referred to herein, and BNP PARIBAS, as administrative agent for such Lenders (in such capacity, the “Administrative Agent”). 
 Each of the Parent, Holdco and the Borrowers have requested that the Lenders extend credit to the Borrowers from time to time in an aggregate principal or face amount not exceeding $750,000,000 (which, in
the circumstances provided herein, may be increased to $1,050,000,000). The Lenders are prepared to extend such credit upon the terms and conditions hereof, and, accordingly, the parties hereto agree as follows: 

ARTICLE I  

DEFINITIONS 
 SECTION 1.01. Defined Terms. As used in this Agreement, the following terms have the meanings specified below: 
 “ABR” means, when used in reference to any Loan or Borrowing, that such Loan, or the Loans constituting such Borrowing, are bearing interest at a rate determined by reference to the
Alternate Base Rate. 
 “Acceleration” has the meaning assigned to such term in Section 9(g). 

“Acquisition” means any transaction, or any series of related transactions, consummated after the date hereof, by which
(i) the Parent and/or any of its Subsidiaries acquires from any Person other than a Group Member the business of, or all or substantially all of the assets of, any firm, corporation or other Person, or division thereof, whether through purchase
of assets, purchase of Equity Interests, merger, consolidation, amalgamation or otherwise or (ii) any Person that was not theretofore a Subsidiary of the Parent becomes a Subsidiary of the Parent. 

“Adjusted LIBO Rate” means, with respect to any Eurodollar Borrowing for any Interest Period, an interest rate per annum
(rounded upwards, if necessary, to the next 1/16 of 1%) equal to (a) the LIBO Rate for such Interest Period multiplied by (b) the Statutory Reserve Rate. 

“Administrative Agent” has the meaning assigned to such term in the recital of parties hereto. 

“Administrative Agent’s Account” means an account designated by the Administrative Agent in a notice to the
Borrowers and the Lenders. 

 “Administrative Questionnaire” means an Administrative Questionnaire in a
form supplied by the Administrative Agent. 
 “Affiliate” means, with respect to a specified Person, another
Person that directly, or indirectly through one or more intermediaries, Controls or is Controlled by or is under common Control with the Person specified. Notwithstanding the foregoing, (a) no individual shall be an Affiliate of the Parent or
any of its Subsidiaries solely by reason of his or her being a director, officer or employee of the Parent or any of its Subsidiaries and (b) none of the Group Members shall be Affiliates of each other. 

“Agent Parties” has the meaning assigned to such term in Section 11.01(d). 

“Agreed Foreign Currency” means, in respect of any Letter of Credit requested to be issued by an Issuing Lender
(i) Euros, Sterling, Canadian Dollars, India Rupees, Qatar Riyals, Hong Kong Dollars, Malaysian Ringgit, Rial Omani, UAE Dirham, Mexican New Peso, Saudi Arabian Riyals, Singapore Dollars, Thai Baht, Australian Dollar, Chinese Yuan, Columbian
Peso, Brazilian Real, Polish Zlotys and South African Rand, (ii) any other Foreign Currency approved by such Issuing Lender (each of whom agrees not to withhold such approval unreasonably) but only if at such time (a) such Foreign Currency
is freely transferable and convertible into Dollars in the London foreign exchange market and (b) no central bank or other governmental authorization in the country of issue of such Foreign Currency (including, in the case of Euros, any
authorization by the European Central Bank) is required to permit use of such Foreign Currency by any Lender for issuing any Letter of Credit or participating in any LC Exposure hereunder, unless such authorization has been obtained and is in
full force and effect and (iii) any other Foreign Currency acceptable to the applicable Issuing Lender. 

“Agreement” means this Credit Agreement, as it may be renewed, extended, amended, restated, or modified and in effect
from time to time. 
 “Alternate Base Rate” means, for any day, a rate per annum equal to the greatest of
(a) the Prime Rate in effect on such day, (b) the Federal Funds Effective Rate for such day plus 1/2 of 1% and (c) the LIBO Rate for a one-month Interest Period commencing on the second Business Day after such date plus
1%. Any change in the Alternate Base Rate due to a change in the Prime Rate, the Federal Funds Effective Rate or the LIBO Rate shall be effective from and including the effective date of such change in the Prime Rate, the Federal Funds Effective
Rate or the LIBO Rate, as the case may be. 

  
 2 

 “Applicable Margin” means (a) (i) with respect to any ABR Loan,
0.500% per annum, (ii) with respect to any Eurodollar Loan, 1.500% per annum, (iii) with respect to any Letter of Credit (other than Performance Letters of Credit), 1.500% per annum, (iv) with respect to any Performance
Letter of Credit, 0.750% per annum and (v) with respect to the Commitment Fee, 0.200% per annum, provided that from and after each Adjustment Date (as defined below) occurring after the Effective Date and through but excluding
each Adjustment Date thereafter, the Applicable Margins will be the respective rates indicated below based upon the Ratings (as defined below) by S&P and Moody’s and (b) for any Type of Incremental Loans of any Series, such rates of
interest as shall be agreed upon at the time Incremental Loan Commitments of such Series are established: 
  

																					
	 
S&P Rating / Moody’s Rating
	  	ABR Loans	 	 	Eurodollar
Loans	 	 	Non-
Performance
Letters
of
Credit	 	 	Performance
Letters of
Credit	 	 	Commitment
Fee	 
	 >BBB / Baa2
	  	 	0.250	% 	 	 	1.250	% 	 	 	1.250	% 	 	 	0.625	% 	 	 	0.175	% 
	 BBB– / Baa3
	  	 	0.500	% 	 	 	1.500	% 	 	 	1.500	% 	 	 	0.750	% 	 	 	0.200	% 
	 BB+ / Ba1
	  	 	0.750	% 	 	 	1.750	% 	 	 	1.750	% 	 	 	0.875	% 	 	 	0.250	% 
	 <BB / Ba2
	  	 	1.250	% 	 	 	2.250	% 	 	 	2.250	% 	 	 	1.125	% 	 	 	0.500	% 

 For purposes of the foregoing, (i) if either S&P or Moody’s shall not have in effect a
Rating due to the Company’s failure to pay such fees, provide such information or undertake such other action as may be requested by either S&P or Moody’s in connection with the effectuation or continuation of such Rating, then the
Applicable Margins shall be determined by reference to the Total Leverage Ratio, such that Applicable Margins shall be set as if the Ratings were BB+/Ba1 when the Total Leverage Ratio is less than or equal to 1.50 to 1, and as if the Ratings were
BB/Ba2 at all other times; (ii) if the S&P Rating and the Moody’s Rating shall fall within different categories in the schedule above, the Applicable Margins shall be based on the higher of the two Ratings (except that if such ratings
differ by more than one category, the Applicable Margins shall be based on the Rating one level below the higher rating); and (iii) if the S&P Rating or the Moody’s Rating shall be changed (other than as a result of a change in the
rating system of S&P or Moody’s), such change shall be effective as of the date on which it is first announced by the applicable rating agency (each such date, an “Adjustment Date”). Each change in the Applicable Margins
shall apply during the period commencing on the effective date of such change and ending on the date immediately preceding the effective date of the next such change. If the rating system of S&P or Moody’s shall change, or if either S&P
or Moody’s shall not have in effect a Rating (other than by reason of the circumstances set out in clause (i) above) or either of such rating agencies shall cease to be in the business of issuing a Rating, the Company (on its own behalf
and on behalf of each other Borrower) and (x) the Required Revolving Credit Lenders (in the case of Revolving Credit Borrowings) or (y) the Required Incremental Lenders for the relevant Series (in the case of Incremental Borrowings) shall
negotiate in good faith to amend this definition to reflect such changed rating system or the unavailability of a Rating from such rating agency (and, notwithstanding anything to the contrary in Section 11.02, such amendment shall be
effective when executed and delivered by the Company and the Required Revolving Credit Lenders or by the Company and the Required Incremental Lenders for the relevant Series, as the case may be, or by the Company and the Administrative Agent with
the consent of the Required Revolving Credit Lenders or with the consent of the Required Incremental Lenders for the relevant Series, as the case may be) and, pending the effectiveness of any such amendment, the Applicable Margins shall be
determined by reference to the Ratings most recently in effect prior to such change or cessation. For 

  
 3 

 
purposes of clause (i) hereof, the Total Leverage Ratio shall be determined as of the end of each fiscal quarter of the Parent’s fiscal year based upon the Parent’s consolidated
financial statements delivered pursuant to Section 7.01(a) or (b) and any change in the Applicable Margins resulting from a change in the Total Leverage Ratio shall be effective during the period commencing on and including
the date three Business Days after delivery to the Administrative Agent of such consolidated financial statements indicating any such change (or, in the case of the initial determination of the Applicable Margins based upon the Total Leverage Ratio,
immediately upon S&P or Moody’s not having in effect a Rating by reason of circumstances set out in clause (i) of the first sentence of this paragraph) and ending on the date immediately preceding the effective date of any next such
change; provided that the Total Leverage Ratio shall be deemed to be greater than 1.50 to 1 if the Parent fails to deliver such consolidated financial statements within the period specified pursuant to Section 7.01(a) or
(b), during the period from the expiration of the time for delivery thereof until such consolidated financial statements are delivered. 
 “Applicable Percentage” means (a) with respect to any Lender for purposes of Section 2.04 or 2.05, or in respect of any indemnity claim under
Section 11.03(c) arising out of an action or omission of an Issuing Lender under this Agreement, the percentage of the total Commitments represented by such Lender’s Commitment, (b) with respect to any Lender in respect of any
indemnity claim under Section 11.03(c) relating to the Administrative Agent under this Agreement, the percentage of the total Commitments represented by such Lender’s Commitments or, if greater, the percentage of the Revolving
Credit Exposure and Incremental Loan Exposure of all Series represented by the aggregate amount of such Lender’s Revolving Credit Exposure and Incremental Loan Exposure of all Series (as applicable) hereunder and (c) with respect to any
Lender with respect to the participations to be purchased pursuant to Section 11.07, the percentage of the total Revolving Credit Exposure and Incremental Loan Exposure of all Series represented by the aggregate amount of such
Lender’s Revolving Credit Exposure and Incremental Loan Exposure of all Series (as applicable); provided that when a Defaulting Lender shall exist, “Applicable Percentage” of any non-Defaulting Lender shall mean the percentage
of the relevant Commitments, Revolving Credit Exposure and Incremental Exposure of the relevant Series, as applicable, disregarding any such Defaulting Lender’s relevant Commitment, Revolving Credit Exposure and Incremental Exposure of the
relevant Series, as applicable, represented by such non-Defaulting Lender’s relevant Commitments, Revolving Credit Exposure and Incremental Exposure of the relevant Series. If the Commitments have terminated or expired, the “Applicable
Percentages” shall be determined based upon the Commitments most recently in effect, giving effect to any assignments and to any Lender’s status as a Defaulting Lender at the time of determination. 

“Approved Fund” means any Person (other than a natural person) that is engaged in making, purchasing, holding or
investing in bank loans and similar extensions of credit in the ordinary course of its business and that is administered or managed by (a) a Lender, (b) an Affiliate of a Lender or (c) an entity or an Affiliate of an entity that
administers or manages a Lender. 
 “Assignment and Assumption” means an assignment and assumption entered into
by a Lender and an assignee (with the consent of any party whose consent is required by Section 11.08), and accepted by the Administrative Agent, in substantially the form of Exhibit A or any other form approved by the
Administrative Agent. 

  
 4 

 “Assuming Lender” has the meaning assigned to such term in
Section 2.08(e)(i). 
 “Bank Parent” means, with respect to any Lender, any Person of which such
Lender is, directly or indirectly, a Subsidiary. 
 “Bankruptcy Event” means, with respect to any Person, such
Person becomes the subject of a bankruptcy or insolvency proceeding, or has had a receiver, conservator, trustee, administrator, custodian, assignee for the benefit of creditors or similar Person charged with the reorganization or liquidation of its
business appointed for it, or, in the good faith determination of the Administrative Agent, has taken any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any such proceeding or appointment. 

“Base Rate”, when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such
Borrowing, are bearing interest at a rate determined by reference to the Alternate Base Rate. 
 “BNP Paribas”
means BNP Paribas, a banking institution organized under the laws of the Republic of France. 
 “Board” means
the Board of Governors of the Federal Reserve System of the United States of America. 
 “Borrower” and
“Borrowers” have the meanings assigned to such terms in the recital of parties hereto. 

“Borrowing” means (a) all Syndicated ABR Loans of the same Class made, converted or continued on the same
date, (b) all Eurodollar Loans of the same Class that have the same Interest Period or (c) a Swingline Loan. 

“Borrowing Request” means a request by a Borrower for a Syndicated Borrowing in accordance with
Section 2.03. 
 “Business Day” means any day that is not a Saturday, Sunday or other day on
which commercial banks in New York City are authorized or required by law to remain closed, and if such day relates to a borrowing of, a payment or prepayment of principal of or interest on, a continuation or conversion of or into, or the
Interest Period for, a Eurodollar Borrowing, or to a notice by a Borrower with respect to any such borrowing, payment, prepayment, continuation, conversion, or Interest Period, that is also a day on which dealings in Dollar deposits are carried out
in the London interbank market. 
 “Canadian Dollar” or “C$” refers to the lawful currency of
Canada. 
 “Capital Expenditures” means, for any period, the sum for the Group Members (determined on a
consolidated basis without duplication in accordance with GAAP) of the aggregate amount of expenditures (excluding expenditures financed as Capital Lease Obligations 

  
 5 

 
or with purchase money financing) made to acquire or construct tangible fixed assets, plant and equipment (including renewals, improvements and replacements, but excluding repairs and maintenance
costs) during such period computed in accordance with GAAP; provided that such term shall not include any such expenditures in connection with any Acquisition or any replacement or repair of property affected by a Casualty Event. 

“Capital Lease Obligations” of any Person means the obligations of such Person to pay rent or other amounts under any
lease of (or other arrangement conveying the right to use) real or personal property, or a combination thereof, which obligations are required at the time of determination to be classified and accounted for as capital leases on a balance sheet of
such Person under GAAP, and the amount of such obligations shall be the capitalized amount thereof determined in accordance with GAAP. 
 “Cash Equivalents” means investments of the types described in clauses (a) through (f) of the definition of “Permitted Investments” in this Section 1.01.

 “Cash Management Obligations” means all obligations owing by Obligors and Restricted Subsidiaries to
Eligible Cash Managers in respect of purchasing cards, treasury management arrangements, depositary or other cash management services. 
 “Casualty Event” means, with respect to any property of any Person, any loss of or damage to, or any condemnation or other taking of, such property for which such Person or any of its
Subsidiaries receives insurance proceeds, or proceeds of a condemnation award or other compensation. For the avoidance of doubt, the term “Casualty Event” shall not include the proceeds of any business interruption insurance or similar
insurance policy. 
 “Change in Law” means (a) the adoption of any law, rule or regulation after the date
of this Agreement, (b) any change in any law, rule or regulation or in the interpretation or application thereof by any Governmental Authority after the date of this Agreement or (c) compliance by any Lender or Issuing Lender (or, for
purposes of Section 2.15(b) by any lending office of such Lender or by such Lender’s or such Issuing Lender’s holding company, if any) with any request, guideline or directive (whether or not having the force of law) of any
Governmental Authority made or issued after the date of this Agreement; provided that notwithstanding anything herein to the contrary, (i) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines
or directives thereunder or issued in connection therewith and (ii) all requests, rules, guidelines or directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar
authority) or the United States or foreign regulatory authorities, in each case pursuant to Basel III, shall in each case be deemed to be a “Change in Law”, regardless of the date enacted, adopted or issued. 

“Change of Control” means the occurrence of any one or more of the following events: 

(i) (A) If neither FWL nor Holdco have been dissolved pursuant to Section 8.04(h), (x) the Parent shall
cease to own, directly or indirectly, beneficially or of record, 100% of the economic interests and voting power in the Equity Interests of FWL, (y)

  
 6 

 
FWL shall cease to own, directly or indirectly, beneficially or of record, 100% of the economic interests and voting power in the Equity Interests of Holdco, or (z) Holdco shall cease to
own, directly or indirectly, beneficially or of record, 100% of the economic interests and voting power in the Equity Interests of the Company. (B) If both FWL and Holdco have been dissolved pursuant to Section 8.04(h), the Parent
shall cease to own, directly or indirectly, beneficially or of record, 100% of the economic interests and voting power in the Equity Interests of the Company. (C) If FWL has been dissolved pursuant to Section 8.04(h) but Holdco has
not been dissolved pursuant to Section 8.04(h), (x) the Parent shall cease to own, directly or indirectly, beneficially or of record, 100% of the economic interests and voting power in the Equity Interests of Holdco, or
(y) Holdco shall cease to own, directly or indirectly, beneficially or of record, 100% of the economic interests and voting power in the Equity Interests of the Company. (D) If Holdco has been dissolved pursuant to
Section 8.04(h) but FWL has not been dissolved pursuant to Section 8.04(h), (x) the Parent shall cease to own, directly or indirectly, beneficially or of record, 100% of the economic interests and voting power in the
Equity Interests of FWL, or (y) FWL shall cease to own, directly or indirectly, beneficially or of record, 100% of the economic interests and voting power in the Equity Interests of the Company; 

(ii) any Person or group (within the meaning of the Exchange Act and the rules of the Securities and Exchange Commission
thereunder as in effect on the date hereof), shall become, directly or indirectly, the beneficial owner of Equity Interests representing more than 35% of the ordinary voting power represented by the issued and outstanding voting Equity Interests of
the Parent; or 
 (iii) a majority of the incumbent directors of the Parent is at any time not comprised of
Persons who were either (x) directors of FWL on the Effective Date or (y) new directors (such Persons being herein called “New Members”) appointed or nominated for election by one or more Persons who were members of the
board of directors of FWL on the Effective Date or who were appointed or nominated by one or more such New Members whether or not they were members on the Effective Date. 
 “Class”, when used in reference to any Loan or Borrowing, refers to whether such Loan or the Loans comprising such Borrowing are Syndicated Revolving Credit Loans or Borrowings,
Incremental Loans or Borrowings of the same Series or Swingline Loans or Borrowings, and when used in reference to any Commitment, refers to whether the Loans that a Lender holding such Commitment is obligated to make are Revolving Credit Loans or
Incremental Loans of a particular Series. 
 “Code” means the Internal Revenue Code of 1986, as amended from
time to time. 
 “Commitment Fee” has the meaning assigned to such term in Section 2.12(a).

 “Commitment Increase” has the meaning assigned to such term in Section 2.08(e)(i). 

  
 7 

 “Commitment Increase Date” has the meaning assigned to such term in
Section 2.08(e)(i). 
 “Commitment Termination Date” means for any Lender, (a) initially, the
fifth anniversary of the Effective Date, (b) if such Lender agrees to an extension pursuant to Section 2.09, such date as so extended or (c) if such Lender replaces a Non-Extending Lender pursuant to Section 2.09,
the date set forth in the applicable Lender’s Assignment and Assumption Agreement, provided that if such day is not a Business Day, then the “Commitment Termination Date” shall be the next following Business Day. 

“Commitments” means the Revolving Credit Commitments and Incremental Loan Commitments. 

“Communications” has the meaning assigned to such term in Section 11.01(d). 

“Company” has the meaning assigned to such term in the recital of parties hereto. 

“Confidential Information Memorandum” means the Confidential Information Memorandum dated July 2012 with respect to the
syndication of the credit facilities provided for in this Agreement. 
 “Control” means the possession,
directly or indirectly, of the power to direct or cause the direction of the management or policies of a Person, whether through the ability to exercise voting power, by contract or otherwise. “Controlling” and
“Controlled” have meanings correlative thereto. 
 “Credit Parties” means the Administrative
Agent, the Issuing Lenders, the Swingline Lender and the other Lenders. 
 “Currency” means Dollars or any
Foreign Currency. 
 “Customer Contract” has the meaning assigned to such term in Section 8.02(l).

 “Debt Service” means, for any period, the sum, for the Group Members (determined on a consolidated basis
without duplication in accordance with GAAP), of the following: (a) all regularly scheduled payments or prepayments of principal of Indebtedness (including the principal component of any payments in respect of Capital Lease Obligations) made
during such period plus (b) all Interest Expense for such period. 
 “Default” means any event or
condition which constitutes an Event of Default or which upon the delivery of a notice or lapse of a period of time described or referred to in Article IX (or both) would, unless cured or waived, become an Event of Default. 

“Defaulting Lender” means any Lender that (a) has failed, within two Business Days of the date required to be
funded or paid, to (i) fund any portion of its Loans, (ii) fund any portion of its participations in Letters of Credit or Swingline Loans or (iii) pay over to any Credit Party any other amount required to be paid by it hereunder,
unless, in each case, with respect to funding obligations in respect of Loans, such Lender notifies the Administrative Agent and the 

  
 8 

 
Borrowers in writing that such failure is the result of such Lender’s good faith determination that one or more conditions precedent to funding (each of which conditions precedent, together
with any applicable default, shall be specifically identified in such writing) has not been satisfied, (b) has notified the Company or any Credit Party in writing, or has made a public statement to the effect, that it does not intend or expect
to comply with any of its funding obligations under this Agreement or generally under other agreements in which it commits to extend credit (unless such notice or public statement relates to such Lenders’ obligation to fund a Loan hereunder and
states that such position is based on such Lender’s good faith determination that a condition precedent to funding (which condition precedent, together with any applicable default, shall be specifically identified in such writing or public
statement) cannot be satisfied), (c) has failed, within three Business Days after request by a Credit Party, acting in good faith, to provide a certification in writing from an authorized officer of such Lender that it will comply with its
obligations (and is financially able to meet such obligations) to fund prospective Loans and (if such Lender is a Revolving Credit Lender) participations in then outstanding Letters of Credit and Swingline Loans under this Agreement (unless with
respect to funding obligations in respect of Loans, such Lender notifies the Administrative Agent and the Borrowers in writing that such failure is the result of such Lender’s good faith determination that one or more conditions precedent to
funding (each of which conditions precedent, together with any applicable default, shall be specifically identified in such writing) has not been satisfied), provided that such Lender shall cease to be a Defaulting Lender pursuant to this
clause (c) upon such Credit Party’s receipt of such certification in form and substance satisfactory to it and the Administrative Agent, or (d) has, or has a Bank Parent that has, become the subject of a Bankruptcy Event,
provided that a Lender shall not be a Defaulting Lender solely by virtue of the ownership or acquisition of any equity interest in that Lender or any Bank Parent by a Governmental Authority so long as such ownership interest does not result
in or provide such Lender with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit such Lender (or such Governmental Authority) to reject, repudiate,
disavow or disaffirm any contracts or agreements made with such Lender. Any determination by the Administrative Agent that a Lender is a Defaulting Lender under any one or more of clauses (a) through (d) above shall be conclusive and
binding absent manifest error, and such Lender shall be deemed to be a Defaulting Lender (subject to the last paragraph of Article III) upon delivery of written notice of such determination to the Company and each Lender. 

“Default Notice” has the meaning assigned to such term in Section 9(g). 

“Defeased” means, with respect to any Letters of Credit, that cash cover has been posted, or back-to-back letters of
credit have been issued, in respect of such Letters of Credit for the benefit of the related Issuing Lenders in accordance with Section 2.19. 
 “Disclosed Matters” means the matters disclosed in the Form 8-K, 10-K and 10-Q filings made by the Parent with the Securities and Exchange Commission made after January 1, 2012
and prior to the date hereof. 
 “Disposition” means any sale, assignment, transfer, lease (as lessor) or other
disposition of any property (whether now owned or hereafter acquired) by any Group Member to any other Person (other than another Group Member) excluding (a) any sale, assignment, transfer, lease (as lessor) or other disposition as part of a
Casualty Event and (b) any sale, 

  
 9 

 
assignment, transfer, lease (as lessor) or other disposition of (i) any property sold or disposed of in the ordinary course of business, (ii) any tangible property that is obsolete or
worn-out or no longer used or useful in the business of the Parent and its Subsidiaries, (iii) any property of, or Equity Interests in, any Project Entity or (iv) other property having an aggregate fair market value (as to the Group
Members) neither exceeding $10,000,000 with respect to any transaction or series of related transactions nor exceeding $15,000,000 in the aggregate for all transactions during any single fiscal year. 

“Disposition Investment” means, with respect to any Disposition, any promissory notes or other evidences of indebtedness
or Investments received by any Group Member in connection with such Disposition. 
 “Disqualified Equity
Interests” means any Equity Interest that, by its terms (or by the terms of any security into which it is convertible, or for which it is exchangeable, in each case at the option of the holder thereof), or upon the happening of any event,
(a) matures or is mandatorily redeemable, pursuant to a sinking fund obligation or otherwise, or redeemable at any time before the first anniversary of the Later Commitment Termination Date at the option of the holder thereof, in whole or in
part, (b) is secured by any assets of any Group Member, (c) is exchangeable or convertible at the option of the holder into Indebtedness of any Group Member or (d) provides for the mandatory payment of dividends (other than dividends
comprised of Disqualified Equity Interests), i.e., regardless of whether or not the board of directors has declared any such dividends. Notwithstanding the preceding sentence, any Equity Interest that would constitute a Disqualified Equity
Interest solely because the holders thereof have the right to require any Group Member to repurchase such Equity Interest upon the occurrence of a change of control or an asset sale shall not constitute a Disqualified Equity Interest if the terms of
such Equity Interest provide, in effect, that the Group Members will not be obligated to repurchase or redeem any such Equity Interest pursuant to such provisions unless such repurchase or redemption is permitted at the time under this Agreement.

 “Dollar Equivalent” means, on any date of determination, (i) with respect to an amount denominated in
Dollars, such Dollar amount and (ii) with respect to an amount denominated in any Foreign Currency, the amount of Dollars that would be required to purchase such amount of such Foreign Currency on such date, based upon the rate appearing on the
applicable page of the Reuters Screen (or on any successor or substitute page of such screen, or any successor to or substitute for such screen, providing rate quotations comparable to those currently provided on such page of such screen, as
determined by the Administrative Agent from time to time for purposes of) providing quotations of exchange rates applicable to the sale of such Foreign Currency in the London foreign exchange market at approximately 11.00 a.m., London Time, for
delivery two days later. 
 “Dollars” or “$” refers to lawful currency of the United States of
America. 
 “Domestic Subsidiary” means any Subsidiary other than (i) a Foreign Subsidiary or (ii) a
Foreign Subsidiary Holding Company. 
 “Earlier Commitment Termination Date” means, as at any date of
determination, the Commitment Termination Date applicable to all Lenders, provided that if at such time there is more than one Commitment Termination Date in effect, the earlier Commitment Termination Date. 

  
 10 

 “Earn-Out Obligation” means any contingent payment obligation of any Group
Member incurred in connection with the Acquisition of an entity, assets or businesses, to the extent such obligation is payable based on the performance of the entity, assets or businesses so acquired. The amount of an Earn-Out Obligation shall be
the maximum amount that in the good faith determination of a Financial Officer (taking into account any applicable maximum limits specified in the agreement or instrument governing such Earn-Out Obligation) could at any time be payable under such
Earn-Out Obligation, provided that if such Earn-Out Obligation is of sufficient certainty as to be carried as a liability on a balance sheet of the Group Members, then the amount of such Earn-Out Obligation shall be the amount thereof so
carried on such balance sheet. 
 “EBITDA” means, for any period, net income for the Parent and its
Subsidiaries (determined on a consolidated basis without duplication in accordance with GAAP) for such period (calculated before taxes, interest expense, depreciation, amortization and any other non-cash income or charges accrued for such period (as
identified on the consolidated statement of cash flows of the Parent and its Subsidiaries for the relevant period) and income or loss attributable to equity in Affiliates for such period (except to the extent such income or loss is received or paid
in cash by any Group Member)), and excluding (a) any extraordinary or unusual gains or losses during such period, (b) any net gain or loss from any Casualty Events and (c) any net gain or loss from any Dispositions other than sales of
inventory in the ordinary course of business; provided that net income for the Parent and its Subsidiaries for any period shall exclude income of a Subsidiary that is not a Restricted Subsidiary during such period except to the extent of cash
received during such period by Group Members from such Subsidiary (whether as dividends, loans or otherwise), provided, further, that (x) exclusions made pursuant to clauses (a), (b) or (c) above shall be made, without
duplication, only to the extent such gains nor losses were included in net income and (y) exclusions made pursuant to clause (b) above shall be made, without duplication, only to the extent such gains or losses exceeded, as to the Group
Members, $2,500,000 with respect to any Casualty Event or series of related Casualty Events or $5,000,000 during any single fiscal year. 
 Notwithstanding the foregoing, if, during any period for which EBITDA is being determined for purposes of calculating the Total Leverage Ratio, any of the Group Members shall have consummated (a) any
Acquisition for aggregate consideration (including, without duplication, Indebtedness remaining outstanding, or repaid in connection with, such Acquisition) in excess of $100,000,000 or (b) any Disposition for aggregate consideration in excess
of $25,000,000 then, for purposes solely of calculating the Total Leverage Ratio, EBITDA shall be determined on a pro forma basis as if such Acquisition or Disposition had been made or consummated on the first day of such period (and, in that
connection, the Parent shall deliver to the Administrative Agent a calculation setting forth in reasonable detail the pro forma adjustments to EBITDA for such period as a result of such Acquisition or Disposition). 

“EDGAR” has the meaning assigned to such term in Section 7.01(d). 

“Effective Date” has the meaning assigned to such term in Section 6.01. 

  
 11 

 “Eligible Cash Manager” means, in connection with any Cash Management
Obligations owing by a Borrower or a Restricted Subsidiary, a Person that was a Lender or an Affiliate of a Lender at the time such Cash Management Obligations arose. 
 “Eligible Hedging Counterparty” means, in connection with any Hedging Agreement with a Borrower or a Restricted Subsidiary, a Person that was a Lender or an Affiliate of a Lender at the
time such Hedging Agreement was entered into. 
 “EMU Legislation” means legislation enacted by the European
Union’s Economic and Monetary Union. 
 “Environmental Laws” means all laws, rules, regulations, codes,
ordinances, orders, decrees, judgments, injunctions, notices or binding agreements issued, promulgated or entered into by any Governmental Authority, relating in any way to the environment, preservation or reclamation of natural resources, the
management, release or threatened release of any Hazardous Materials or to health and safety matters. 
 “Environmental
Liability” means any liability, contingent or otherwise (including any liability for damages, costs of environmental remediation, fines, penalties or indemnities), of any Group Member directly or indirectly resulting from or based upon
(a) violation of any Environmental Law, (b) the generation, use, handling, transportation, storage, treatment or disposal of any Hazardous Materials, (c) exposure to any Hazardous Materials, (d) the release or threatened release
of any Hazardous Materials into the environment or (e) any contract, agreement or other consensual arrangement pursuant to which liability is assumed or imposed with respect to any of the foregoing. 

“Equity Interests” means shares of capital stock of a corporation, membership interests in a limited liability company,
partnership interests in a general or limited partnership, beneficial interests in a trust or other equity ownership interests in an association or other entity or Person, and any warrants, options or other rights entitling the holder thereof to
purchase or acquire any such capital stock, membership or partnership interests, beneficial interests or other equity ownership interests in any Person. 
 “ERISA” means the Employee Retirement Income Security Act of 1974, as amended from time to time. 
 “ERISA Affiliate” means any trade or business (whether or not incorporated) that, together with the Parent, 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. 
 “ERISA Event” means (a) any “reportable event”, as defined in Section 4043 of ERISA or the regulations issued thereunder with respect to a Plan (other than an event
for which the 30-day notice period is waived), (b) the failure by any Plan to satisfy the minimum funding standard under Section 412 of the Code or Section 302 of ERISA, whether or not waived, (c) the filing pursuant to
Section 412(c) of the Code or Section 302(c) of ERISA of an application for a waiver of the minimum funding standard with respect to any Plan, (d) the incurrence by the Parent or any of its ERISA Affiliates of any liability under
Title IV of ERISA with respect to the 

  
 12 

 
termination of any Plan, (e) the receipt by the Parent or any ERISA Affiliate from the PBGC or a plan administrator of any notice relating to an intention to terminate any Plan or Plans or
to appoint a trustee to administer any Plan, (f) the incurrence by the Parent or any of its ERISA Affiliates of any liability with respect to the withdrawal or partial withdrawal from any Plan or Multiemployer Plan, or (g) the receipt by
the Parent or any ERISA Affiliate of any notice, or the receipt by any Multiemployer Plan from the Parent or any ERISA Affiliate of any notice, concerning the imposition of Withdrawal Liability or of a determination that a Multiemployer Plan is, or
is expected to be, insolvent or in reorganization, within the meaning of Title IV of ERISA. 
 “Euro” or
“€” refers to the single currency of the European Union as constituted by the Treaty on European Union and as referred to in EMU Legislation. 
 “Eurodollar”, when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, are bearing interest at a rate determined by reference
to the Adjusted LIBO Rate. 
 “Event of Default” has the meaning assigned to such term in
Article IX. 
 “Excess Cash Flow” means, for any period, (a) EBITDA for such period
less (b) the sum of (i) Capital Expenditures made during such period plus (ii) the aggregate amount of Debt Service for such period. 
 “Exchange Act” means the United States Securities Exchange Act of 1934, as amended. 
 “Excluded Taxes” means, with respect to any Recipient of any payment to be made by or on account of any obligation of any Borrower or other Obligor hereunder or under any other Loan
Document, (a) income or franchise Taxes imposed on (or measured by) its net income by the United States of America, or by the jurisdiction (or any political subdivision thereof) under the laws of which such Recipient is organized or in which
its principal office is located or, in the case of any Lender (including any Issuing Lender or Swingline Lender), in which its applicable lending office is located or by any other jurisdiction with which such Recipient has a present or former
connection (other than solely on account of the execution, delivery, performance, filing, recording and enforcement of, and the other activities contemplated in, this Agreement), (b) any branch profits Taxes imposed by the United States of
America or any similar Tax imposed by any other jurisdiction described in clause (a) above, (c) in the case of any Recipient, withholding Taxes imposed on amounts payable to or for the account of such Recipient with respect to an
applicable interest hereunder or under any other Loan Document pursuant to a law in effect on the date on which (i) such Recipient acquires such interest (other than pursuant to an assignment request by a Borrower under
Section 2.18) or (ii) if such Recipient is a Lender, such Lender changes its lending office, except in each case to the extent that, if such Recipient is a Lender, pursuant to Section 11.04, amounts with respect to such
Taxes were payable either to such Lender’s assignor immediately before such Lender became a party hereto or to such Lender immediately before it changed its lending office, (d) Taxes attributable to such Recipient’s failure to comply
with Section 11.04 and (e) any U.S. federal withholding Taxes imposed under FATCA. 

  
 13 

 “Existing Commitment Termination Date” has the meaning assigned to such
term in Section 2.09(a). 
 “Existing Credit Agreement” means the Amended and Restated Credit
Agreement dated as of July 30, 2010, as amended, supplemented or otherwise modified, from time to time, among the Borrowers, the various lending parties thereto, BNP Paribas, as Administrative Agent, and certain other parties thereto.

 “Existing Letter of Credit” has the meaning assigned to such term in Section 2.05(j).

 “Exposures” means, at any time, the sum of the Revolving Credit Exposures and Incremental Loan Exposures of
all Series at such time. 
 “Extending Lender” has the meaning assigned to such term in
Section 2.09(e). 
 “Extension Request Date” has the meaning assigned to such term in
Section 2.09(a). 
 “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) and any current or future regulations or official interpretations thereof and any agreement entered into with the IRS,
the United States government or any governmental or taxing authority in any other jurisdiction in connection therewith. 

“Federal Funds Effective Rate” means, for any day, the weighted average (rounded upwards, if necessary, to the next
1/100 of l%) of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers, as published on the next succeeding Business Day by the Federal Reserve Bank of New York, or, if such
rate is not so published for any day that is a Business Day, the average (rounded upwards, if necessary, to the next 1/100 of 1%) of the quotations for such day for such transactions received by the Administrative Agent from three Federal funds
brokers of recognized standing selected by it. 
 “Financial Officer” means the chief financial officer,
principal accounting officer, treasurer or controller of the Parent. 
 “Foreign Currency” means at any time
any Currency other than Dollars. 
 “Foreign Currency Equivalent” means, with respect to any amount in Dollars,
the amount of any Foreign Currency that could be purchased with such amount of Dollars using the reciprocal of the foreign exchange rate(s) specified in the definition of the term “Dollar Equivalent”, as determined by the Administrative
Agent. 
 “Foreign Lender” means any Recipient that is Not a U.S. Person. 

  
 14 

 “Foreign Subsidiary” means any Subsidiary of the Parent organized in a
jurisdiction other than the United States of America, any State thereof, or the District of Columbia. 
 “Foreign
Subsidiary Holding Company” means any Subsidiary (i) that is not a Foreign Subsidiary and (ii) substantially all of whose assets consist of shares or other securities in one or more Foreign Subsidiaries. 

“FWL” has the meaning assigned to such term in the recital of parties hereto. 

“GAAP” means generally accepted accounting principles in the United States of America. 

“Governmental Authority” means the government of the United States of America, or of any other nation or any political
subdivision thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or
pertaining to government. 
 “Group Members” means, collectively, the Parent and the Restricted Subsidiaries.

 “Guarantee” means a guarantee, an endorsement, a contingent agreement to purchase or to furnish funds for
the payment or maintenance of, or otherwise to be or become contingently liable under or with respect to, the Indebtedness, other obligations, net worth, working capital or earnings of any Person, or a guarantee of the payment of dividends or other
distributions upon the Equity Interests of any Person, or an agreement to purchase, sell or lease (as lessee or lessor) property, products, materials, supplies or services primarily for the purpose of enabling a debtor to make payment of such
debtor’s obligations or an agreement to assure a creditor against loss, but does not include (a) causing a bank or other financial institution to issue a letter of credit or other similar instrument for the benefit of another Person other
than those directly supporting Indebtedness and (b) endorsements for collection or deposit in the ordinary course of business. The terms “Guarantee” and “Guaranteed” used as a verb shall have a correlative
meaning. 
 “Guaranteed Obligations” means (a) in the case of the Parent, FWL, Holdco and the Subsidiary
Guarantors, the principal of and interest on the Loans made by the Lenders to the Borrowers, all LC Disbursements and all other amounts from time to time owing to the Lenders or the Administrative Agent by the Borrowers hereunder or under any other
Loan Document, all Cash Management Obligations and all obligations of the Borrowers or any Restricted Subsidiary to any Eligible Hedging Counterparty under any Hedging Agreement, in each case strictly in accordance with the terms thereof and
(b) in the case of each Borrower, the principal of and interest on the Loans made by the Lenders to the other Borrowers, all LC Disbursements and all other amounts from time to time owing to the Lenders or the Administrative Agent by the other
Borrowers hereunder or under any other Loan Document, all Cash Management Obligations and all obligations of the other Borrowers or any Restricted Subsidiary to any Eligible Hedging Counterparty under any Hedging Agreement, in each case strictly in
accordance with the terms thereof. 

  
 15 

 “Guarantor” means, except to the extent otherwise provided in
Section 4.08, collectively, the Subsidiary Guarantors, the Parent, FWL, Holdco and the Borrowers. 

“Hazardous Materials” means all explosive or radioactive substances or wastes and all hazardous or toxic substances,
wastes or other pollutants, including petroleum or petroleum distillates, asbestos or asbestos containing materials, polychlorinated biphenyls, radon gas, infectious or medical wastes and all other substances or wastes of any nature regulated
pursuant to any Environmental Law. 
 “Hedging Agreement” means any agreement with respect to any swap,
forward, future, cap, collar or derivative transaction or option or similar agreement involving, or settled by reference to, one or more rates, currencies, commodities, equity or debt instruments or securities, or economic, financial or pricing
indices or measures of economic, financial or pricing risk or value or any similar transaction or any combination of these transactions. 
 “Holdco” has the meaning assigned to such term in the recital of parties hereto. 
 “HSBC” means HSBC Bank USA, National Association. 

“Immaterial Subsidiary” means, as at any date, any Restricted Subsidiary (other than a Borrower) designated as such by
the Parent in a certificate delivered by the Parent to the Administrative Agent at the Effective Date or at any time thereafter (and which designation has not been rescinded in a subsequent certificate of the Parent delivered to the Administrative
Agent); provided that no Restricted Subsidiary may be designated as an “Immaterial Subsidiary” if any Subsidiary of such Restricted Subsidiary is not an Immaterial Subsidiary. 

“Increasing Lender” has the meaning assigned to such term in Section 2.08(e)(i). 

“Incremental Loan” when used in reference to any Loan or Borrowing, means that such Loan, or the Loans constituting such
Borrowing, are made pursuant to Section 2.01(b). 
 “Incremental Loan Commitment” means, with
respect to each Lender, the amount of the offer of such Lender to make Incremental Loans of any Series that is accepted by the Company in accordance with the provisions of Section 2.01(b), as such amount may be (a) reduced from time
to time pursuant to Section 2.08 and (b) reduced or increased from time to time pursuant to assignments by or to such Lender pursuant to Section 11.08. 

“Incremental Loan Exposure” means, with respect to any Incremental Lender of any Series at any time, the sum of the
outstanding principal amount of such Lender’s Incremental Loans of such Series at such time. 
 “Incremental
Lenders” means, in respect of any Series of Incremental Loans, (a) initially, the Lenders (or other financial institutions referred to in Section 2.01(b)) whose offers to make Incremental Loans of such Series shall have
been accepted by the Company in accordance with the provisions of Section 2.01(b) and (b) thereafter, the Lenders from time to time holding Incremental Loans of such Series and/or Incremental Loan Commitments of such Series after
giving effect to any assignments thereof permitted by Section 11.08. 

  
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 “Indebtedness” means, for any Person without duplication:
(a) obligations created, issued or incurred by such Person for borrowed money (whether by loan, the issuance and sale of debt securities or a sale of financial assets or commodities subject to a repurchase obligation in a transaction commonly
known as a “repo”; (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 and
payable in the ordinary course of business; (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 of such Person
in respect of letters of credit (including Letters of Credit) or similar instruments (including bank guaranties) issued or accepted by banks and other financial institutions for account of such Person, but only if and to the extent such letters of
credit or similar instruments directly support obligations otherwise constituting Indebtedness; (e) Capital Lease Obligations of such Person; (f) Indebtedness of others Guaranteed by such Person; (g) any Disqualified Equity Interest;
and (h) any Earn-Out Obligation. The Indebtedness of any Person shall include the Indebtedness of any other entity (including any partnership in which such Person is a general partner) to the extent such Person is liable therefor as a result of
such Person’s ownership interest in or other relationship with such entity. 
 Notwithstanding the foregoing,
(x) “Indebtedness” shall exclude (i) obligations under Hedging Agreements and (ii) obligations in respect of letters of credit (including Letters of Credit hereunder) or similar instruments (including bank guaranties) except
to the extent expressly set forth in clause (d) above and (y) Non-Recourse Project Indebtedness shall not be deemed to be Indebtedness of any Group Member. 
 “Indemnified Taxes” means Taxes other than Excluded Taxes and Other Taxes. 
 “Interest Coverage Ratio” means, as of the last day of any fiscal quarter of the Parent, the ratio of (a) EBITDA for the period of four consecutive fiscal quarters ending on the last
day of the most recent fiscal quarter for which financial statements have been delivered pursuant to this Agreement to (b) Interest Expense for such period. 
 “Interest Election Request” means a request by a Borrower to convert or continue a Borrowing in accordance with Section 2.07. 

“Interest Expense” means, for any period, the sum, for the Group Members (determined on a consolidated basis without
duplication in accordance with GAAP), of the following: (a) all interest in respect of Indebtedness accrued during such period that was, in such period, paid or currently payable in cash plus (b) the net amounts accrued and paid, or
currently payable in cash (or minus the net amounts accrued and received, or currently receivable in cash) under Hedging Agreements relating to interest. In determining “Interest Expense” for any period, there shall be excluded fees
and commissions in respect of letters of credit (including Letters of Credit hereunder) or similar instruments (including bank guaranties) except to the extent that such letters of credit or similar instruments directly support Indebtedness.

 “Interest Payment Date” means (a) with respect to any Syndicated ABR Loan, each Quarterly Date,
and the Later Commitment Termination Date, (b) with respect to any Eurodollar Loan, the last day of each Interest Period therefor and, in the case of any Interest 

  
 17 

 
Period of more than three months’ duration, each day prior to the last day of such Interest Period that occurs at three-month intervals after the first day of such Interest Period and
(c) with respect to any Swingline Loan, the day that such Loan is required to be repaid. 
 “Interest
Period” means with respect to any Eurodollar Borrowing, the period commencing on the date of such Borrowing and ending on the numerically corresponding day in the calendar month that is one, two, three or six months (or, with the consent of
each Lender of the relevant Class based upon availability of funds for the applicable period, nine or twelve months) thereafter, provided, that (i) if any Interest Period would end on a day other than a Business Day, such Interest Period
shall be extended to the next succeeding Business Day unless such next succeeding Business Day would fall in the next calendar month, in which case such Interest Period shall end on the next preceding Business Day and (ii) any Interest Period
that commences on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the last calendar month of such Interest Period) shall end on the last Business Day of the last calendar month of such
Interest Period. For purposes hereof, the date of a Borrowing initially shall be the date on which such Borrowing is made and thereafter shall be the effective date of the most recent conversion or continuation of such Borrowing. Notwithstanding the
foregoing, (x) if any Interest Period for any Revolving Credit Borrowing would otherwise end after the Later Commitment Termination Date, such Interest Period shall end on the Later Commitment Termination Date, and (y) notwithstanding the
foregoing clause (x), no Interest Period shall have a duration of less than one month and, if the Interest Period for any Eurodollar Loan would otherwise be a shorter period, such Loan shall not be available hereunder as Eurodollar Loan for
such period. 
 “Interim Financial Statements” means the unaudited consolidated balance sheet, statements of
operations, changes in equity and cash flows of the Parent and its consolidated Subsidiaries as of and for the period commencing on January 1, 2012 and ending on March 31, 2012, certified by a Financial Officer. 

“Investment” means, for any Person: (a) the acquisition (whether for cash, property, services or securities or
otherwise) of any Equity Interests in, or bonds, notes, debentures or other securities of, or capital contribution to, any other Person or any “short sale” of securities, meaning a sale of securities at a time when such securities are not
owned by the Person entering into such short sale; (b) the making of any deposit with, or advance, loan or other extension of credit to, any other Person, but excluding any such advance, loan or extension of credit representing (i) the
purchase price of inventory, project equipment, supplies or services sold or provided by such Person in the ordinary course of business and on ordinary trade terms or (ii) the issuance or procurement of any letter of credit (including a Letter
of Credit) or similar instrument (including a bank guaranty) for the benefit of any other Person not directly supporting Indebtedness, including the deposit of any cash collateral that is in place of or provides cover for, or is in lieu of, such
letters of credit or such instrument; (c) the entering into of any Guarantee of, or other contingent obligation, directly supporting Indebtedness; or (d) the making of any payment, or other transfer for value in payment of, any
reimbursement or similar obligation arising upon any payment made under any letter of credit (including a Letter of Credit) or similar instrument (including a bank guaranty) issued or procured for the benefit of any other Person not directly
supporting Indebtedness. The aggregate amount of an Investment by a Person at any time shall be determined by reference to the amount of cash or property delivered by such Person in connection with such Investment and not by the amount of cash or
property committed to be delivered in connection therewith. 

  
 18 

 “IRS” means the United States Internal Revenue Service. 

“Issuing Lender” means BNP Paribas, HSBC and each other Lender designated by the Company as an “Issuing
Lender” hereunder that has agreed to such designation and has been approved as an “Issuing Lender” by the Administrative Agent in its reasonable discretion. Each Issuing Lender may, in its discretion, arrange for one or more Letters
of Credit to be issued by Affiliates of such Issuing Lender, in which case the term “Issuing Lender” shall include any such Affiliate with respect to Letters of Credit issued by such Affiliate. 

“Joinder Agreement” means a Joinder Agreement substantially in the form of Exhibit D. 

“Later Commitment Termination Date” means, as at any date of determination, the Commitment Termination Date applicable
to all Lenders, provided that if at such time there is more than one Commitment Termination Date in effect, the later Commitment Termination Date. 
 “LC Disbursement” means a payment made by an Issuing Lender pursuant to a Letter of Credit. 
 “LC Exposure” means, at any time, the sum of (a) the aggregate undrawn amount of all outstanding Letters of Credit at such time plus (b) the aggregate amount of all LC
Disbursements that have not yet been reimbursed by or on behalf of the Borrowers at such time. The LC Exposure of any Lender at any time shall be its Applicable Percentage of the total LC Exposure at such time. 

“Lenders” means the Persons listed as Lenders in Schedule 1.01(a) and any Persons that shall become a party
hereto pursuant to an Assignment and Assumption, or pursuant to Section 2.01(b) or 2.08(e), other than any such Person that ceases to be a party hereto pursuant to an Assignment and Assumption, provided that from and after
the Earlier Commitment Termination Date, upon the Non-Extending Lenders being paid all amounts owing to them under this Agreement, the Non-Extending Lenders shall no longer be Lenders. Unless the context otherwise requires, the term
“Lenders” includes the Swingline Lender and each Issuing Lender. 
 “Letter of Credit” means a letter
of credit issued pursuant to Article II and any Existing Letter of Credit. 
 “Letter of Credit Collateral
Account” has the meaning assigned to such term in Section 2.05(k). 
 “Letter of Credit
Documents” means, with respect to any Letter of Credit, collectively, any application therefor and any other agreements, instruments, guarantees or other documents (whether general in application or applicable only to such Letter of Credit)
governing or providing for (a) the rights and obligations of the parties concerned or at risk with respect to such Letter of Credit or (b) any collateral security for any of such obligations, each as the same may be modified and
supplemented and in effect from time to time. 

  
 19 

 “Leverage Ratio Increase” has the meaning assigned to such term in
Section 8.09(a). 
 “LIBO Rate” means, for the Interest Period for any Eurodollar Borrowing, the
rate appearing on Reuters Screen LIBOR01 Page (or on any successor or substitute page of such Service, or any successor to or substitute for such Service, providing rate quotations comparable to those currently provided on such page of such Service,
as determined by the Administrative Agent from time to time for purposes of providing quotations of interest rates applicable to Dollar deposits in the London or other applicable interbank market) at approximately 11:00 a.m., London time, two
Business Days prior to the commencement of such Interest Period, as the rate for Dollar deposits with a maturity comparable to such Interest Period. In the event that such rate is not available as described above for any reason, then the LIBO Rate
for such Interest Period shall be the rate at which Dollar deposits in the amount of $5,000,000 and for a maturity comparable to such Interest Period are offered by the principal London office of the Administrative Agent in immediately available
funds in the London interbank market at approximately 11:00 a.m., London time, two Business Days prior to the commencement of such Interest Period. 
 “Lien” means, with respect to any asset, (a) any mortgage, deed of trust, lien, pledge, hypothecation, encumbrance, charge or security interest in, on or of such asset and
(b) the interest of a vendor or a lessor under any conditional sale agreement, capital lease or title retention agreement (including any financing lease having substantially the same economic effect as any of the foregoing but excluding any
operating lease) relating to such asset. 
 “Loan Documents” means, collectively, this Agreement, any
promissory notes evidencing Loans hereunder and the Letter of Credit Documents. 
 “Loans” means the loans made
in Dollars by the Lenders to the Borrowers pursuant to this Agreement, including Incremental Loans of any Series. 

“Luxembourg Guarantor” has the meaning assigned to such term in Section 4.09(b). 

“Margin Stock” has the meaning specified in Regulation U of the Board of Governors of the Federal Reserve System.

 “Material Adverse Effect” means a material adverse effect on (a) the business, assets, operations or
condition, financial or otherwise, of the Group Members taken as a whole, (b) the enforceability of the obligations of any Obligor under this Agreement or the other Loan Documents or (c) the rights of or remedies available to the Lenders
under this Agreement and the other Loan Documents. 
 “Material Acquisition” means an Acquisition permitted
under Section 8.05(c) in which the aggregate consideration paid (including, without duplication, Indebtedness remaining outstanding, or repaid in connection with, such Acquisition) is equal to or greater than $200,000,000. 

  
 20 

 “Material Indebtedness” means Indebtedness (other than the Obligations), or
obligations in respect of one or more Hedging Agreements, of any one or more of the Group Members in an aggregate principal amount exceeding $50,000,000. For purposes of determining Material Indebtedness, the “principal amount” of the
obligations of any Person in respect of any Hedging Agreement at any time shall be the maximum aggregate amount (giving effect to any netting agreements) that such Person would be required to pay if such Hedging Agreement were terminated at such
time. 
 “Monthly Dates” means the last Business Day of each calendar month in each year, the first of which
shall be the first such day after the date of this Agreement. 
 “Moody’s” means Moody’s Investors
Service, Inc. 
 “Moody’s Rating” means the corporate family rating or the senior unsecured debt rating,
whichever is in effect from time to time, (or any substantially similar successor rating, however styled) of the Company or the Parent, as applicable, from Moody’s. If Moody’s has in effect a rating for both the Parent and the Company
and the ratings are different, the Company (on its own behalf and on behalf of each other Borrower) and (x) the Required Revolving Credit Lenders (in the case of Revolving Credit Borrowings) or (y) the Required Incremental Lenders for the
relevant Series (in the case of Incremental Borrowings), shall negotiate in good faith to amend the Applicable Margin definition to reflect the dual rating from such rating agency (and, notwithstanding anything to the contrary herein, such amendment
shall be effective when executed and delivered by the Company and by the Administrative Agent) and, pending the effectiveness of any such amendment, the Applicable Margin shall be determined by reference to the rating most recently in effect prior
to such dual rating. 
 “Multiemployer Plan” means a multiemployer plan as defined in Section 4001(a)(3)
of ERISA, and in respect of which the Parent or any ERISA Affiliate is (or, if such plan were terminated, would under Section 4069 of ERISA be deemed to be) an “employer” as defined in Section 3(5) of ERISA. 

“Net Cash Proceeds” means, in the case of any Disposition, the aggregate amount of all cash payments received by the
Group Members directly or indirectly in connection with such Disposition, whether at the time of such Disposition or after such Disposition under deferred payment arrangements or Investments entered into or received in connection with such
Disposition (including Disposition Investments); provided that 
 (a) Net Cash Proceeds shall be net of
(x) the amount of any legal, title, transfer and recording tax expenses, commissions and other fees and expenses payable by the Group Members in connection with such Disposition, (y) any Federal, state and local income or other taxes
estimated to be payable by the Group Members as a result of such Disposition and (z) any reserve for retained liabilities or adjustment in respect of the sale price of such property in accordance with GAAP; and 

  
 21 

 (b) Net Cash Proceeds shall be net of any repayments by any Group Member of
Indebtedness to the extent that (i) such Indebtedness (other than the Guaranteed Obligations) is secured by a Lien on the property that is the subject of such Disposition and (ii) the transferee of (or holder of a Lien on) such property
requires that such Indebtedness be repaid as a condition to the purchase of such property. 
 Notwithstanding the foregoing, the
Net Cash Proceeds of any Disposition of property by any Foreign Subsidiary, shall be reduced by the aggregate amount of funds received by such Foreign Subsidiary that the Company in good faith determines (and notifies the Administrative Agent) may
not be remitted to the Company (by distribution or intercompany advance or otherwise) without resulting in adverse tax consequences or a violation of law. 
 “Net Commitment Increase Amount” means at any time an amount (not less than zero) equal to the aggregate amount of all Commitment Increases obtained after the date hereof and at or prior
to such time minus the aggregate amount of all reductions of the Revolving Credit Commitments effected after the date hereof and at or prior to such time. 
 “Net Incremental Increase Amount” means at any time an amount (not less than zero) equal to the aggregate principal amount of all Incremental Loans outstanding at such time plus
the aggregate unused Incremental Loan Commitments outstanding at any such time. 
 “New Lender” has the meaning
assigned to such term in Section 2.09(d). 
 “Non-Extending Lender” has the meaning assigned to
such term in Section 2.09(b). 
 “Non-Recourse Project Indebtedness” means Indebtedness of a
Project Entity (i) that is without recourse to, and is not secured by any lien on, any assets of any Group Member other than (x) recourse in the nature of a guaranty of completion or performance that does not itself constitute Indebtedness
of any Group Member (determined without regard to clause (y) of the last sentence of the definition of the term “Indebtedness”) and (y) liens on the Equity Interests of such Project Entity, and (ii) any default in respect of
which will not result in a cross-default under Indebtedness of any Group Member in excess of $50,000,000. 
 “Notice
Date” has the meaning assigned to such term in Section 2.09(b). 
 “Obligations” means all
indebtedness, obligations and liabilities of each Obligor to any Lender, the Swingline Lender, any Issuing Lender or the Administrative Agent from time to time arising under or in connection with or related to or evidenced by or secured by this
Agreement or any other Loan Document, and all extensions or renewals thereof, whether such indebtedness, obligations or liabilities are direct or indirect, otherwise secured or unsecured, joint or several, absolute or contingent, due or to become
due, whether for payment or performance, now, existing or hereafter arising. Without limitation of the foregoing, such indebtedness, obligations and liabilities include the principal amount of Loans, LC Exposure, interest, fees, indemnities or
expenses under or in connection with this Agreement or any other Loan Document, and all extensions and renewals thereof, whether or not such extensions of credit were made in compliance with the terms and conditions of this Agreement or in excess of
the 

  
 22 

 
obligation of the Lenders to extend credit hereunder. Obligations shall remain Obligations notwithstanding any assignment or transfer or any subsequent assignment or transfer of any of the
Obligations or any interest therein. 
 “Obligors” means, collectively, the Borrowers and the Guarantors.

 “OFAC” has the meaning assigned to such term in Section 5.16. 

“OFAC List” has the meaning assigned to such term in Section 5.16. 

“Other Taxes” means any and all present or future stamp or documentary Taxes or any other excise or property Taxes,
charges or similar levies arising from any payment or prepayment made hereunder or from the execution, delivery or enforcement of, or otherwise with respect to, this Agreement and the other Loan Documents other than Excluded Taxes. 

“Parent” has the meaning assigned to such term in the recital of parties hereto. 

“Participant” has the meaning assigned to such term in Section 11.08(c). 

“Participant Register” has the meaning assigned to such term in Section 11.08. 

“PBGC” means the Pension Benefit Guaranty Corporation or any entity succeeding to any or all of its functions under
ERISA. 
 “Performance Letter of Credit” means (a) a standby Letter of Credit issued to secure ordinary
course performance obligations, including any performance related advance payment, retention or warranty obligations, in each case in connection with project engineering, procurement, construction, power business, maintenance and other similar
projects (including projects about to be commenced) or bids for prospective project engineering, procurement, construction, power business, maintenance and other similar projects, and (b) a standby Letter of Credit issued to back a bank
guarantee, surety bond, performance bond, or other similar obligation in each case issued to support ordinary course performance obligations including any performance related advance payment, retention or warranty obligations, in each case in
connection with project engineering, procurement, construction, power business, maintenance and other similar projects (including projects about to be commenced) or bids for prospective project engineering, procurement, construction, power business,
maintenance and other similar projects. For the avoidance of doubt, the term “Performance Letter of Credit” includes each Existing Letter of Credit that is identified as a “Performance Letter of Credit” on Schedule
1.01(b). 
 “Permitted Investments” means: 

(a) direct obligations of, or obligations the principal of and interest on which are unconditionally guaranteed by, the
United States of America (or by any agency thereof to the extent such obligations are backed by the full faith and credit of the United States of America), in each case maturing within one year from the date of acquisition thereof; 

  
 23 

 (b) investments in commercial paper maturing within 365 days from the date
of acquisition thereof and having, at such date of acquisition, a rating of at least A1 from S&P or P1 from Moody’s; 
 (c) investments in certificates of deposit, banker’s acceptances and time deposits maturing within 365 days from the date of acquisition thereof issued or guaranteed by or placed with, and money
market deposit accounts issued or offered by, any office of any commercial bank which has a combined capital and surplus and undivided profits of not less than $250,000,000; 

(d) fully collateralized repurchase agreements with a term of not more than 365 days for securities described in
clause (a) above and entered into with a financial institution satisfying the criteria described in clause (c) above; 
 (e) money market funds either (i) rated AAA by S&P or Aaa by Moody’s or (ii) at least 95% of the assets of which constitute Permitted Investments of the kinds described in
clauses (a) through (d) of this definition; 
 (f) obligations issued or guaranteed by the government
or governmental agencies of the United States of America, Canada, Japan, Australia, Switzerland and the countries belonging to the European Union with a country credit rating of at least AA from S&P or similar rating from any other recognized
credit rating agency maturing within one year from the date of acquisition thereof; 
 (g) obligations of a Group
Member to any other Group Member arising from any cash management arrangement maintained for the purpose of investing in Permitted Investments; and 
 (h) other Investments permitted by the Administrative Agent from time to time. 

“Person” means any natural person, corporation, limited liability company, trust, joint venture, association, company,
partnership, Governmental Authority or other entity. 
 “Plan” means any employee pension benefit plan (other
than a Multiemployer Plan) subject to the provisions of Title IV of ERISA or Section 412 of the Code or Section 302 of ERISA, and in respect of which any the Parent or any ERISA Affiliate is (or, if such plan were terminated, would under
Section 4069 of ERISA be deemed to be) an “employer” as defined in Section 3(5) of ERISA. 

“Platform” has the meaning assigned to such term in Section 11.01(d). 

“Prime Rate” means the rate of interest per annum publicly announced from time to time by BNP Paribas, as its prime rate
in effect at its office in New York City; each change in the Prime Rate shall be effective from and including the date such change is publicly announced as being effective. 

  
 24 

 “Project Entity” means each and all of (a) the Subsidiaries listed on
Schedule 5.13 identified as “Project Entities” therein and their present and future Subsidiaries and (b) any other existing or future Subsidiary of the Company designated by the Company, by written notice to the
Administrative Agent, as formed or acquired for the primary purpose of constructing, acquiring, owning, leasing and/or operating one or more sites, facilities or projects and any agreements related thereto and the Subsidiaries of such Subsidiary,
together, in the case of each Subsidiary referred to in clause (a) or (b), with any intermediate holding companies of any such Subsidiary, provided that such designation will be deemed to be an Investment under, and must be permitted by,
Section 8.05(a)(iv). 
 “provide cover” means, when used in reference to a Letter of Credit, the
deposit of cash collateral pursuant to Section 2.05(k). 
 “Quarterly Dates” means the last
Business Day of March, June, September and December in each year, the first of which shall be the first such day after the Effective Date. 
 “Ratings” means the Moody’s Rating and the S&P Rating. 

“Recipient” means (a) the Administrative Agent, (b) any Lender, (c) the Swingline Lender and (d) any
Issuing Lender, as applicable. 
 “Register” has the meaning assigned to such term in
Section 11.08. 
 “Related Parties” means, with respect to any specified Person, such Person’s
Affiliates and the respective directors, officers, employees, agents and advisors of such Person and such Person’s Affiliates. 
 “Removal Effective Date” has the meaning assigned to such term in Article X. 
 “Requested Extension Date” has the meaning assigned to such term in Section 2.09(a). 
 “Required Incremental Lenders” means, at any time, with respect to Incremental Lenders of any Series, Incremental Lenders of such Series having Incremental Loan Exposures and unused
Incremental Loan Commitments of such Series representing more than 50% of the total Incremental Loan Exposures of such Series and unused Incremental Loan Commitments of such Series at such time. 

“Required Lenders” means, at any time, Lenders having Exposures and unused Commitments representing more than 50% of the
sum of the total Exposures and unused Commitments at such time. 
 “Required Revolving Credit Lenders” means,
at any time, Revolving Credit Lenders having Revolving Credit Exposures and unused Revolving Credit Commitments representing more than 50% of the total Revolving Credit Exposures and unused Revolving Credit Commitments at such time. 

“Resignation Effective Date” has the meaning assigned to such term in Article X. 

  
 25 

 “Restricted Payment” means any dividend or other distribution (whether in
cash, contractual obligations, securities or other property) with respect to any class of outstanding equity interests of the Parent, or any payment (whether in cash, securities or other property), including any sinking fund or similar deposit, on
account of the purchase, redemption, retirement, acquisition, cancellation or termination of any such equity interest of the Parent, but excluding dividends payable solely in equity interests of the Parent (other than Disqualified Equity Interests).

 “Restricted Subsidiary” means all Subsidiaries of the Parent other than the Project Entities. 

“Revolving Credit”, when used in reference to any Loan or Borrowing, means that such Loan, or the Loans constituting
such Borrowing, are made pursuant to Section 2.01(a). 
 “Revolving Credit Availability Period” for
each Lender, means the period from and including the Effective Date to but excluding the earlier of (a) such Lender’s Commitment Termination Date and (b) the date of termination of the Revolving Credit Commitments. 

“Revolving Credit Commitment” means, with respect to each Lender, the commitment of such Lender to make Revolving Credit
Loans and to acquire participations in Letters of Credit and Swingline Loans hereunder, as such commitment may be (a) reduced, increased or terminated from time to time pursuant to Section 2.08 and (b) reduced or increased from
time to time pursuant to assignments by or to such Lender pursuant to Section 11.08. The initial amount of each Lender’s Revolving Credit Commitment is set forth opposite the name of such Lender on Schedule 1.01(a) under the
caption “Revolving Credit Commitment”, or in the Assignment and Assumption pursuant to which such Lender shall have assumed its Revolving Credit Commitment, as applicable. The initial aggregate amount of the Revolving Credit Commitments is
$750,000,000. 
 “Revolving Credit Exposure” means, with respect to any Revolving Credit Lender at any time,
the sum of (a) the outstanding principal amount of such Lender’s Syndicated Revolving Credit Loans, its LC Exposure and Swingline Exposure at such time minus (b) for purposes of Sections 2.11(c) and (d), the
aggregate balance then held by the Administrative Agent in the Letter of Credit Collateral Account. 
 “Revolving Credit
Lender” means (a) initially, a Lender that has a “Revolving Credit Commitment” set forth opposite the name of such Lender on Schedule 1.01(a) and (b) thereafter, the Lenders from time to time holding Revolving
Credit Loans and Revolving Credit Commitments, after giving effect to any assignments thereof permitted by Section 11.08. 
 “Revolving Credit Loan Sublimit” means $250,000,000. 

“S&P” means Standard & Poor’s Ratings Services, a Division of The McGraw-Hill Companies, Inc.

 “S&P Rating” means the corporate credit rating (or any substantially similar successor rating, however
styled) of the Parent or the Company, as applicable, from S&P. If S&P has in effect a rating for both the Parent and the Company and the ratings are different the 

  
 26 

 
Company (on its own behalf and on behalf of each other Borrower) and (x) the Required Revolving Credit Lenders (in the case of Revolving Credit Borrowings) or (y) the Required
Incremental Lenders for the relevant Series (in the case of Incremental Borrowings) shall negotiate in good faith to amend the Applicable Margin definition to reflect the dual rating from such rating agency (and, notwithstanding anything to the
contrary herein, such amendment shall be effective when executed and delivered by the Company and by the Administrative Agent) and, pending the effectiveness of any such amendment, the Applicable Margin shall be determined by reference to the rating
most recently in effect prior to such dual rating. 
 “Sale and Leaseback Transaction” has the meaning assigned
thereto in Section 8.03. 
 “Secured LOCs” has the meaning assigned to such term in
Section 8.01(c). 
 “Series” has the meaning assigned to such term in Section 2.01(b).

 “Significant Subsidiary” means a Restricted Subsidiary (other than an Obligor) that has aggregate assets or
aggregate revenues (excluding in each case intercompany loans or receivables that are eliminated on the consolidated financial statements of the Group Members in accordance with GAAP) greater than 5% of the aggregate assets or aggregate revenues of
the Group Members taken as a whole. 
 “Special Counsel” means Milbank, Tweed, Hadley & McCloy LLP, in
its capacity as special counsel to BNP Paribas in connection with this Agreement. 
 “Statutory Reserve Rate”
means, for the Interest Period for any Eurodollar Borrowing, a fraction (expressed as a decimal), the numerator of which is the number one and the denominator of which is the number one minus the arithmetic mean, taken over each day in such
Interest Period, of the aggregate of the maximum reserve percentages (including any marginal, special, emergency or supplemental reserves) expressed as a decimal established by the Board to which the Administrative Agent is subject for eurocurrency
funding (currently referred to as “Eurocurrency liabilities” in Regulation D of the Board). Such reserve percentages shall include those imposed pursuant to Regulation D. Eurodollar Loans shall be deemed to constitute
eurocurrency funding and to be subject to such reserve requirements without benefit of or credit for proration, exemptions or offsets that may be available from time to time to any Lender under such Regulation D or any comparable regulation.
The Statutory Reserve Rate shall be adjusted automatically on and as of the effective date of any change in any reserve percentage. 
 “Sterling” or “£” refers to the lawful currency of the United Kingdom. 
 “Subsidiary” means, with respect to any Person (the “parent”) at any date, (a) any other Person (other than a partnership) the accounts of which would be
consolidated with those of the parent in the parent’s consolidated financial statements if such financial statements were prepared in accordance with GAAP as of such date or (b) any partnership the accounts of which would be consolidated
with those of the parent in the parent’s consolidated financial statements if such financial statements were prepared in accordance with GAAP as of such date. References herein to “Subsidiaries” shall, unless the context requires
otherwise, be deemed to be references to Subsidiaries of the Parent. 

  
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 “Subsidiary Guarantors” means the Persons listed under the caption
“SUBSIDIARY GUARANTORS” on the signature pages hereto or which become a party hereto as a “Subsidiary Guarantor” hereunder pursuant to any Joinder Agreement; provided that for the avoidance of doubt, “Subsidiary
Guarantors” will not include (unless such Subsidiary becomes a Subsidiary Guarantor in accordance with Section 7.10(b)) (a) any Project Entity, (b) any Immaterial Subsidiary, (c) FW Energie B.V., (d) Foster
Wheeler Europe B.V., (e) Foster Wheeler Power Systems, S.A., (f) Foster Wheeler Environmental Corporation, (g) FW Management Operations, Ltd., (h) Perryville Service Company Ltd., (i) Continental Finance Company Ltd.,
(j) Foster Wheeler Power Company Ltd. – La Societe D’Energie Foster Wheeler Ltee, (k) Foster Wheeler Canada Ltd., (l) Foster Wheeler Europe, (m) Foster Wheeler (Malaysia) SDN. BHD., (n) Foster Wheeler Continental
B.V., (o) FW Netherlands C.V., (p) Foster Wheeler Asia Pacific Pte. Ltd., (q) P.E. Consultants, Inc., (r) Manops Limited, (s) Foster Wheeler Caribe Corporation, C.A., (t) FW Overseas Operations Limited, (u) FW
Holdings S.à r.l., (v) FW Investment Holdings S.à r.l. and/or (w) Graf-Wulff US Corp. 

“Swingline Exposure” means, at any time, the aggregate principal amount of all Swingline Loans outstanding at such time.
The Swingline Exposure of any Lender at any time shall be its Applicable Percentage of the total Swingline Exposure at such time. 
 “Swingline Lender” means BNP Paribas, in its capacity as lender of Swingline Loans hereunder. 
 “Swingline Loan” means a Loan made pursuant to Section 2.04. 
 “Syndicated”, when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans constituting such Borrowing, are made pursuant to Section 2.01.

 “Taxes” means any and all present or future taxes, levies, imposts, duties, deductions, charges or
withholdings imposed by any Governmental Authority. 
 “Total Leverage Ratio” means as at any date the ratio of
(a) all Indebtedness of the Group Members (determined on a consolidated basis without duplication in accordance with GAAP, but in any event excluding all cash collateral referred to in Section 8.01(k)) on such date to
(b) EBITDA for the period of four consecutive fiscal quarters ending on the last day of the most recent fiscal quarter for which financial statements have been delivered pursuant to this Agreement. 

“Transactions” means (a) with respect to a Borrower, the execution, delivery and performance by such Borrower of
the Loan Documents to which it is a party, the borrowing of Loans and the use of the proceeds thereof, and the issuance of Letters of Credit hereunder and (b) with respect to an Obligor (other than the Borrowers), the execution, delivery and
performance by such Obligor of the Loan Documents to which it is a party. 

  
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 “Type”, when used in reference to any Loan or Borrowing, refers to whether
the rate of interest on such Loan, or on the Loans comprising such Borrowing, is determined by reference to the Adjusted LIBO Rate or the Alternate Base Rate. 
 “U.S. Person” means a “United States person” as defined in Section 7701(a)(30) of the Code. 
 “U.S. Tax Compliance Certificate” means a certificate substantially in the form of Exhibit G-1, G-2, G-3 or G-4, as applicable. 

“Unapplied Equity Proceeds” means, at any date of determination, (a) the aggregate cash proceeds received by the
Parent in respect of its equity capital (whether through the issuance of additional equity interests, through the receipt of capital contributions to the Parent or otherwise) during the period commencing on the Effective Date through and including
such date or determination minus (b) the aggregate amount of Investments made by the Parent or any of its Subsidiaries pursuant to clauses (iii) and (iv) of Section 8.05(a) during such period; provided that
if the amount obtained pursuant to clause (b) is greater than the amount obtained pursuant to clause (a), then the amount of “Unapplied Equity Proceeds” for purposes of this Agreement and each other Loan Document shall be deemed to be
zero. 
 “Withdrawal Liability” means liability to a Multiemployer Plan as a result of a complete or partial
withdrawal from such Multiemployer Plan, as such terms are defined in Part 1 of Subtitle E of Title IV of ERISA. 

SECTION 1.02. Classification of Loans and Borrowings. For purposes of this Agreement, Loans may be classified and referred to by
Class (e.g., a “Syndicated Revolving Credit Loan” or “Incremental Loan”) or by Type (e.g., an “ABR Loan”, or a “Eurodollar Loan”) or by Class and Type (e.g., a “Syndicated ABR
Revolving Credit Loan” or a “Syndicated Eurodollar Revolving Credit Loan”); each Series of Incremental Loans shall be deemed a separate Class of Loans hereunder. In similar fashion, (i) Borrowings may be classified and referred
to by Class, by Type and by Class and Type, and (ii) Commitments may be classified and referred to by Class; each Series of Incremental Loan Borrowings and Incremental Loan Commitments shall be deemed a separate Borrowing and Commitment
hereunder. 
 SECTION 1.03. Terms Generally. The definitions of terms herein shall apply equally to the singular and
plural forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include”, “includes” and “including” shall be deemed to
be followed by the phrase “without limitation”. The word “will” shall be construed to have the same meaning and effect as the word “shall”. Unless the context requires otherwise (a) any definition of or reference
to any agreement, instrument or other document herein shall be construed as referring to such agreement, instrument or other document as from time to time amended, supplemented or otherwise modified (subject to any restrictions on such amendments,
supplements or modifications set forth herein), (b) any reference herein to any Person shall be construed to include such Person’s successors and assigns, (c) the words “herein”, “hereof” and “hereunder”,
and words of similar import, shall be construed to refer to this Agreement in its entirety and not to any particular provision hereof, (d) all references herein to Articles, Sections, Exhibits and 

  
 29 

 
Schedules shall be construed to refer to Articles and Sections of, and Exhibits and Schedules to, this Agreement, (e) any reference to an undertaking, obligation or liability in this
Agreement shall be construed as a reference to such undertaking, obligation or liability as the same shall from time to time be modified or supplemented and (f) the words “asset” and “property” shall be construed to have the
same meaning and effect and to refer to any and all tangible and intangible assets and properties, including cash, securities, accounts and contract rights. 
 SECTION 1.04. Accounting Terms; GAAP. Except as otherwise expressly provided herein, all terms of an accounting or financial nature shall be construed in accordance with GAAP, as in effect from
time to time; provided that if the Parent notifies the Administrative Agent that the Parent requests an amendment to any provision hereof to eliminate the effect of any change occurring after the date hereof in GAAP or in the application
thereof on the operation of such provision (or if the Administrative Agent notifies the Parent that the Required Lenders request an amendment to any provision hereof for such purpose), regardless of whether any such notice is given before or after
such change in GAAP or in the application thereof, then such provision shall be interpreted on the basis of GAAP as in effect and applied immediately before such change shall have become effective until such notice shall have been withdrawn or such
provision amended in accordance herewith. 
 SECTION 1.05. Currencies; Currency Equivalents. At any time, any reference
in the definition of the term “Agreed Foreign Currency” or in any other provision of this Agreement to the Currency of any particular nation means the lawful currency of such nation at such time whether or not the name of such Currency is
the same as it was on the date hereof. Except as provided in Section 2.11(d), for purposes of determining 
 (i) whether the amount of any Revolving Credit Borrowing or Letter of Credit, together with all other Revolving Credit Borrowings and Letters of Credit then outstanding or to be borrowed or issued at the
same time that such Revolving Credit Borrowing or Letter of Credit is outstanding, would exceed the aggregate amount of the Revolving Credit Commitments, 
 (ii) whether the amount of any Incremental Borrowing of any Class, together with all other Incremental Borrowings of such Class then outstanding or to be borrowed at the same time that such Incremental
Borrowing is outstanding, would exceed the aggregate amount of the Incremental Commitments of such Class, 

(iii) the aggregate unutilized amount of the Commitments of any Class or 

(iv) the Revolving Credit Exposure, the LC Exposure or the Incremental Loan Exposure of any Class, 

the outstanding principal amount of any Letter of Credit that is denominated in any Foreign Currency shall be deemed to be the Dollar Equivalent of the
amount of the Foreign Currency of such Letter of Credit, determined as of the date of such Letter of Credit. Wherever in this Agreement in connection with a Letter of Credit a required minimum or multiple amount is expressed in Dollars, but such
Letter of Credit is denominated in a Foreign Currency, such amount shall be the relevant Foreign Currency Equivalent of such Dollar amount (rounded to the nearest 1,000 units of such Foreign Currency). 

  
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 ARTICLE II  
 LOAN COMMITMENTS 
 SECTION 2.01. Revolving Credit Commitments.

 (a) Revolving Credit Loans. Subject to the terms and conditions set forth herein, each Revolving Credit Lender agrees
to make Syndicated Revolving Credit Loans to the Borrowers from time to time during each such Lender’s Revolving Credit Availability Period, in Dollars, in an aggregate principal amount that will not result in such Lender’s Revolving
Credit Exposure exceeding such Lender’s Revolving Credit Commitment, provided that (i) the aggregate outstanding principal amount of Revolving Credit Loans and Swingline Loans shall not at any time exceed the Revolving Credit Loan
Sublimit and (ii) the total Revolving Credit Exposure shall not at any time exceed the total Revolving Credit Commitments. Within the foregoing limits and subject to the terms and conditions set forth herein, the Borrowers may borrow, prepay
and reborrow Revolving Credit Loans. 
 (b) Incremental Loans. In addition to Borrowings of Syndicated Revolving Credit
Loans pursuant to paragraph (a) above, at any time and from time to time, the Company may request that any one or more of the Lenders or, at the option of the Company, other financial institutions or funds selected by the Company offer to enter
into commitments to make additional revolving Incremental Loans, in Dollars, under this paragraph (b) to the Borrowers. In the event that one or more of the Lenders or such other financial institutions or funds offer, in their sole discretion,
to enter into such commitments, and such Lenders or financial institutions or funds and the Company agree as to the amount of such commitments that shall be allocated to the respective Lenders or financial institutions or funds making such offers
and the fees (if any) to be payable by the Borrowers in connection therewith, such Lenders or financial institutions or funds shall become obligated to make Incremental Loans under this Agreement in an amount equal to the amount of their respective
Incremental Loan Commitments (and such financial institutions shall become “Incremental Lenders” hereunder). The Incremental Loans to be made pursuant to any such agreement between the Company in response to any such request by the
Company shall be deemed to be a separate “Series” of Incremental Loans for all purposes of this Agreement. 

Anything herein to the contrary notwithstanding, (i) the minimum aggregate principal amount of Incremental Loan Commitments entered
into pursuant to any such request (and, accordingly, the minimum aggregate principal amount of any Series of Incremental Loans) shall be $20,000,000 or a larger multiple of $1,000,000 and (ii) immediately after giving effect to the
establishment of each Incremental Loan Commitment, the sum of the Net Commitment Increase Amount plus the Net Incremental Increase Amount plus the aggregate undrawn amount of all Secured LOCs shall not exceed $300,000,000. Except as
otherwise expressly provided herein, the Incremental Loans of any Series shall have the interest rate, participation, commitment, arrangement, upfront and similar fees, commitment reduction schedule (if any) and maturity date, and be subject to such
conditions to effectiveness and initial credit extension, as shall be agreed upon by the respective Incremental Lenders of such Series and the Company, provided  

  
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that in any event (i) the Incremental Loans shall be subject to, and entitled to the benefits of, the Guarantees provided for herein and in the other Loan Documents on an equal and ratable
basis with each other Guaranteed Obligation, (ii) the maturity for Incremental Loans shall not be earlier than the Later Commitment Termination Date and may be later than the Later Commitment Termination Date to the extent so agreed by the
Company and such Incremental Lenders and (iii) the weighted average-life-to-maturity for each Series of Incremental Loans shall not be shorter than the longest remaining Revolving Credit Availability Period. 

Following the acceptance by the Company of the offers made by any one or more Lenders to make any Series of Incremental Loans pursuant to
the foregoing provisions of this paragraph (b), each Incremental Lender in respect of such Series of Incremental Loans severally agrees, on the terms and conditions of this Agreement, to make such Incremental Loans to the Borrowers during the
period from and including the date of such acceptance to and including the commitment termination date specified in the agreement entered into with respect to such Series in an aggregate principal amount up to but not exceeding the amount of the
Incremental Loan Commitment of such Incremental Lender in respect of such Series as in effect from time to time. Thereafter, subject to the terms and conditions of this Agreement, the Borrowers may convert Incremental Loans of such Series of one
Type into Incremental Loans of such Series of another Type (as provided in Section 2.07) or continue Incremental Loans of such Series of one Type as Incremental Loans of such Series of the same Type (as provided in
Section 2.07). 
 SECTION 2.02. Loans and Borrowings. 

(a) Obligations Several. Each Revolving Credit Loan or Incremental Loan of a particular Class and Type (other than Swingline
Loans, as to which the provisions of Section 2.04 shall be applicable) shall be made as part of a Borrowing consisting of Loans of such Class and Type made by the respective Lenders ratably in accordance with their respective Commitments
of such Class. The failure of any such Lender to make any Loan required to be made by it shall not relieve any other Lender of its obligations hereunder; provided that the Commitments of the Lenders are several and no Lender shall be
responsible for any other Lender’s failure to make Loans as required. 
 (b) Type of Loans. Subject to
Section 2.15, each Syndicated Borrowing of a Class shall be constituted entirely of ABR Loans or of Eurodollar Loans of such Class as the respective Borrower may request in accordance herewith. Each Lender at its option may make any
Eurodollar Loan by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan; provided that any exercise of such option shall not affect the obligation of such Borrower to repay such Loan in accordance with the
terms of this Agreement. 
 (c) Minimum Amounts. Each Revolving Credit Loan or Incremental Loan Borrowing (whether
Eurodollar, Syndicated ABR or Swingline) shall be in an aggregate amount of $1,000,000 or a larger multiple of $1,000,000; provided that (i) each Swingline Loan shall be in an amount equal to $500,000 or a larger multiple of $250,000 and
(ii) any Borrowing of a Class may be in an aggregate amount that is equal to the entire unused balance of the total Commitments of such Class or, in the case of Revolving Credit Loans, that is required to finance the reimbursement of an
LC Disbursement as contemplated by Section 2.05(f). Borrowings of more than one Class and Type may be outstanding at the same time; provided that there shall not at any time be more than a total of ten Eurodollar Borrowings
outstanding. 

  
 32 

 (d) Limitations on Interest Periods. Notwithstanding any other provision of this
Agreement, a Borrower shall not be entitled to request (or to elect to convert to or continue as a Eurodollar Borrowing) any Revolving Credit Borrowing if the Interest Period requested therefor would end after the Later Commitment Termination Date,
or any Incremental Loan Borrowing of any Series if the Interest Period requested therefor would end after the commitment termination date for such Series. 
 SECTION 2.03. Requests for Borrowings. 
 (a) Notice by the
Borrowers. To request a Syndicated Borrowing, the respective Borrower shall notify the Administrative Agent of such request by telephone (i) in the case of a Eurodollar Borrowing, not later than 11:00 a.m., New York City time, three
Business Days before the date of the proposed Borrowing or (ii) in the case of a Syndicated ABR Borrowing, not later than 11:00 a.m., New York City time, on the date of the proposed Borrowing; provided that any such notice of a
Revolving ABR Borrowing to finance the reimbursement of an LC Disbursement as contemplated by Section 2.05(f) may be given not later than 10:00 a.m., New York City time, on the date of the proposed Borrowing. Each such
telephonic Borrowing Request shall be irrevocable and shall be confirmed promptly by hand delivery or telecopy or other electronic transmission to the Administrative Agent of a written Borrowing Request in a form approved by the Administrative Agent
and signed by the relevant Borrower. 
 (b) Content of Request for Syndicated Loans. Each telephonic and written
Borrowing Request shall specify the following information in compliance with Section 2.02: 
 (i)
whether such Borrowing is to be a Revolving Credit Borrowing or an Incremental Borrowing (and, if so, which Series of Incremental Loans will arise therefrom); 
 (ii) the aggregate amount of the requested Borrowing; 
 (iii) the
date of such Borrowing, which shall be a Business Day; 
 (iv) in the case of a Syndicated Borrowing, whether
such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing; 
 (v) in the case of a Eurodollar
Borrowing, the Interest Period therefor, which shall be a period contemplated by the definition of the term “Interest Period” and permitted under Section 2.02(d); and 

(vi) the location and number of the respective Borrower’s account to which funds are to be disbursed, which shall
comply with the requirements of Section 2.06. 
 (c) Notice by the Administrative Agent to the Lenders.
Promptly following receipt of a Borrowing Request in accordance with this Section 2.03, the Administrative Agent 

  
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shall advise each Revolving Credit Lender or relevant Incremental Lenders, as the case may be, of the details thereof and of the amounts of such Lender’s Loan to be made as part of the
requested Borrowing. 
 (d) Failure to Elect. If no election as to the Type of a Syndicated Borrowing is specified, then
the requested Borrowing shall be an ABR Borrowing. If a Eurodollar Borrowing is requested but no Interest Period is specified, the requested Borrowing shall be a Eurodollar Borrowing having an Interest Period of one month’s duration.

 SECTION 2.04. Swingline Loans. 
 (a) Agreement to Make Swingline Loans. Subject to the terms and conditions set forth herein, the Swingline Lender agrees to make Swingline Loans to the Borrowers from time to time during such
Lender’s Revolving Credit Availability Period, in Dollars, in an aggregate principal amount at any time outstanding that will not result in (i) the aggregate principal amount of outstanding Swingline Loans exceeding $10,000,000,
(ii) the aggregate outstanding principal amount of Revolving Credit Loans and Swingline Loans exceeding the Revolving Credit Loan Sublimit or (iii) the total Revolving Credit Exposures exceeding the aggregate Revolving Credit Commitments,
provided that the Swingline Lender shall not be required to make a Swingline Loan to refinance an outstanding Swingline Loan. All Swingline Loans shall be ABR Loans. Within the foregoing limits and subject to the terms and conditions set
forth herein, the Borrowers may borrow, prepay and reborrow Swingline Loans. 
 (b) Notice of Swingline Loans by the
Borrowers. To request a Swingline Loan, the respective Borrower shall notify the Administrative Agent of such request by telephone (confirmed by telecopy or other electronic transmission) not later than 12:00 noon, New York City time, on
the day of such proposed Swingline Loan. Each such notice shall be irrevocable and shall specify the requested date (which shall be a Business Day) and the amount of the requested Swingline Loan. The Administrative Agent will promptly advise the
Swingline Lender of any such notice received from a Borrower. The Swingline Lender shall make each Swingline Loan available to such Borrower by means of a credit to the general deposit account of such Borrower with the Swingline Lender (or, in the
case of a Swingline Loan made to finance the reimbursement of an LC Disbursement as provided in Section 2.05(f), by remittance to the applicable Issuing Lender) by 3:00 p.m., New York City time, on the requested date of such
Swingline Loan. 
 (c) Participations by Lenders in Swingline Loans. The Swingline Lender may, by written notice given to
the Administrative Agent not later than 10:00 a.m., New York City time on any Business Day, require the Revolving Credit Lenders to acquire participations on such Business Day in all or a portion of the Swingline Loans then outstanding. Such
notice to the Administrative Agent shall specify the aggregate amount of Swingline Loans in which the applicable Lenders will participate. Promptly upon receipt of such notice, the Administrative Agent will give notice thereof to each applicable
Lender, specifying in such notice such Lender’s Applicable Percentage of such Swingline Loan or Loans. Each Lender hereby absolutely and unconditionally agrees, upon receipt of notice as provided above in this paragraph, to pay to the
Administrative Agent, for account of the Swingline Lender, such Lender’s Applicable Percentage of such Swingline Loan or Loans, provided that no Lender shall be required to 

  
 34 

 
purchase a participation in a Swingline Loan pursuant to this paragraph (c) if (x) the conditions set forth in Section 6.02 would not be satisfied in respect of a Borrowing
at the time such Swingline Loan was made and (y) the Required Revolving Credit Lenders shall have so notified the Swingline Lender in writing before such Swingline Loan was made and shall not have subsequently determined that the circumstances
giving rise to such conditions not being satisfied no longer exist. 
 Subject to the foregoing, each Revolving Credit Lender
acknowledges and agrees that its obligation to acquire participations in Swingline Loans pursuant to this paragraph (c) is absolute and unconditional and shall not be affected by any circumstance whatsoever, including the occurrence and
continuance of a Default or reduction or termination of the Revolving Credit Commitments, and that each such payment shall be made without any offset, abatement, withholding or reduction whatsoever. Each Revolving Credit Lender shall comply with its
obligation under this paragraph by wire transfer of immediately available funds, in the same manner as provided in Section 2.07 with respect to Loans made by such Lender (and Section 2.07 shall apply, mutatis
mutandis, to the payment obligations of the Revolving Credit Lenders), and the Administrative Agent shall promptly pay to the Swingline Lender the amounts so received by it from the Revolving Credit Lenders. The Administrative Agent shall
notify the applicable Borrower of any participations in any Swingline Loan acquired pursuant to this paragraph (c), and thereafter payments in respect of such Swingline Loan shall be made to the Administrative Agent and not to the Swingline
Lender. Any amounts received by the Swingline Lender from such Borrower (or other party on behalf of such Borrower) in respect of a Swingline Loan after receipt by the Swingline Lender of the proceeds of a sale of participations therein shall be
promptly remitted to the Administrative Agent; any such amounts received by the Administrative Agent shall be promptly remitted by the Administrative Agent to the Lenders that shall have made their payments pursuant to this paragraph and to the
Swingline Lender, as their interests may appear. The purchase of participations in a Swingline Loan pursuant to this paragraph shall not relieve a Borrower of any default in the payment thereof. 

SECTION 2.05. Letters of Credit. 
 (a) General. Subject to the terms and conditions set forth herein (including the penultimate paragraph of Section 2.05(b)), in addition to the Revolving Credit Loans provided for in
Section 2.01, any Borrower may request the issuance of Letters of Credit for its own account (or for the account of any of its direct or indirect Subsidiaries) by an Issuing Lender, at any time and from time to time during the period
commencing on the Effective Date through and including the date five Business Days preceding the Later Commitment Termination Date, which Letters of Credit may be denominated in Dollars or in any Agreed Foreign Currency and shall be in such form as
is acceptable to such Issuing Lender in its reasonable determination, provided that no Issuing Lender shall be under any obligation to issue any Letter of Credit if the issuance of such Letter of Credit would violate one or more of the
policies of such Issuing Lender generally applicable to the issuance of letters of credit (other than policies as to expiration dates that conflict with Section 2.05(d)). Letters of Credit issued hereunder shall constitute utilization of
the Revolving Credit Commitments up to the aggregate amount available to be drawn thereunder. 
 (b) Notice of Issuance;
Redesignation, Etc. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the 

  
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respective Borrower shall hand deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the respective Issuing Lender) to an Issuing Lender
and the Administrative Agent (by the times specified in the next following sentence) a notice requesting the issuance of such Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of
issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (d) of this Section 2.05), the amount and Currency of such Letter of
Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. Such notice shall be given to the Administrative Agent (i) in the case of a
Letter of Credit to be denominated in Dollars, not later than 11:00 a.m., New York City time, three Business Days before the date of the proposed issuance, amendment, renewal or extension and (ii) in the case of a Letter of Credit to be
denominated in a Foreign Currency, not later than 11:00 a.m., London time, three Business Days (or four Business Days if longer notice is determined by the Administrative Agent to be required) before the date of the proposed issuance,
amendment, renewal or extension. 
 If requested by such Issuing Lender, such Borrower also shall submit a letter of credit
application on such Issuing Lender’s standard form in connection with any request for a Letter of Credit. In the event of any inconsistency between the terms and conditions of this Agreement and the terms and conditions of any form of letter of
credit application or other agreement submitted by a Borrower to, or entered into by a Borrower with, an Issuing Lender relating to any Letter of Credit, the terms and conditions of this Agreement shall control. 

Each Issuing Lender shall promptly notify the Administrative Agent of any Letters of Credit issued, amended, renewed or extended by it
hereunder (or any Letter of Credit that shall have been cancelled or terminated) and shall deliver a report (in form and substance reasonably acceptable to the Administrative Agent) on the last Business Day of each month after the Effective Date
detailing its Letter of Credit activity under this Agreement during such month. 
 (c) Limitation on Amount. A Letter of
Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the respective Borrower shall be deemed to represent and warrant that), after giving effect to such issuance,
amendment, renewal or extension, the total Revolving Credit Exposure shall not exceed the total Revolving Credit Commitments, provided that after any Lender’s Commitment Termination Date has been extended, then immediately after any
Letter of Credit is issued, amended, renewed or extended, at no time prior to the Earlier Commitment Termination Date may the sum of the aggregate undrawn stated amount of all outstanding Letters of Credit that expire after the fifth Business Day
prior to the Earlier Commitment Termination Date plus the aggregate amount of the Extending Lenders’ Applicable Percentage of all Loans (including Swing Line Loans) exceed the aggregate amount of the Commitments of all of the Extending Lenders,
with all relevant amounts determined after giving effect to any reductions or increases in Commitments scheduled to occur on the date on which each such Letter of Credit is issued, amended, renewed or extended. 

(d) Expiration Date. The applicable Borrower will have the right to request that the expiration date for a Letter of Credit be
fixed (without giving effect to any extension thereof by reason of an interruption of business) for any date selected by such Borrower that is 

  
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not later than five Business Days prior to the Later Commitment Termination Date. If any Letter of Credit includes an extension clause, it may provide that the respective Issuing Lender shall
have the option to refuse to extend the expiration of such Letter of Credit to a date that is later than five Business Days prior to the Later Commitment Termination Date (and with respect to each such Letter of Credit, the Issuing Lender shall
refuse to do so) or that automatic extensions thereof will not be effective if the extended expiration date is later than the date five Business Days prior to the Later Commitment Termination Date. 

(e) Participations. By the issuance of a Letter of Credit (or an amendment to a Letter of Credit increasing the amount thereof) by
any Issuing Lender, and without any further action on the part of such Issuing Lender or any Lender, such Issuing Lender hereby grants to each Revolving Credit Lender, and each Revolving Credit Lender hereby acquires from such Issuing Lender, a
participation in such Letter of Credit equal to such Revolving Credit Lender’s Applicable Percentage of the aggregate amount available to be drawn under such Letter of Credit. Such granting and acquisition of participations in Existing Letters
of Credit shall occur automatically and without further action on the Effective Date. Each Revolving Credit Lender acknowledges and agrees that its obligation to acquire participations pursuant to this paragraph is absolute and unconditional and
shall not be affected by any circumstance whatsoever, including any amendment, renewal or extension of any Letter of Credit or the occurrence and continuance of a Default or reduction or termination of the Revolving Credit Commitments, and that each
such payment shall be made without any offset, abatement, withholding or reduction whatsoever. 
 In consideration and in
furtherance of the foregoing, each Revolving Credit Lender hereby absolutely and unconditionally agrees to pay to the Administrative Agent, for account of the respective Issuing Lender, such Revolving Credit Lender’s Applicable Percentage of
the Dollar Equivalent of each LC Disbursement (calculated on the date of such LC Disbursement) made by such Issuing Lender in respect of Letters of Credit issued by such Issuing Lender promptly upon the request of such Issuing Lender at any
time from the time of such LC Disbursement until such LC Disbursement is reimbursed by the respective Borrower or at any time after any reimbursement payment is required to be refunded to such Borrower for any reason. Such payment shall be
made without any offset, abatement, withholding or reduction whatsoever. Each such payment shall be made in the same manner as provided in Section 2.06 with respect to Revolving Credit Loans made by such Revolving Credit Lender (and
Section 2.06 shall apply, mutatis mutandis, to the payment obligations of the Revolving Credit Lenders), and the Administrative Agent shall promptly pay to such Issuing Lender the amounts so received by it from the
Revolving Credit Lenders. Promptly following receipt by the Administrative Agent of any payment from a Borrower pursuant to the next following paragraph, the Administrative Agent shall distribute such payment to the respective Issuing Lender or, to
the extent that the Revolving Credit Lenders have made payments pursuant to this paragraph to reimburse such Issuing Lender, then to such Revolving Credit Lenders and such Issuing Lender as their interests may appear. Any payment made by a Lender
pursuant to this paragraph to reimburse an Issuing Lender for any LC Disbursement shall not constitute a Loan and shall not relieve the respective Borrower of its obligation to reimburse such LC Disbursement. 

(f) Reimbursement. If an Issuing Lender shall make any LC Disbursement in respect of a Letter of Credit, the respective Borrower
shall reimburse such Issuing Lender in respect of such LC Disbursement by paying to the Administrative Agent an amount equal to the 

  
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Dollar Equivalent of such LC Disbursement (calculated on the date of such LC Disbursement) not later than 12:00 noon, New York City time, on the Business Day immediately following the day
that such Borrower receives notice of such LC Disbursement, provided that if the Dollar Equivalent of such LC Disbursement is not less than $1,000,000, such Borrower may, subject to the conditions to borrowing set forth herein, request in
accordance with Section 2.03 or 2.04 that such payment be financed with a Syndicated ABR Borrowing or a Swingline Loan in an equivalent amount and, to the extent so financed, such Borrower’s obligation to make such
payment shall be discharged and replaced by the resulting Syndicated ABR Borrowing or Swingline Loan. 
 If the respective
Borrower fails to make such payment when due, the Administrative Agent shall notify each Revolving Credit Lender of the applicable LC Disbursement, the payment then due from such Borrower in respect thereof and such Revolving Credit
Lender’s Applicable Percentage of the Dollar Equivalent thereof. 
 (g) Obligations Absolute. A Borrower’s
obligation to reimburse LC Disbursements made in respect of a Letter of Credit issued for its account as provided in paragraph (f) of this Section 2.05 shall be absolute, unconditional and irrevocable, and shall be performed
strictly in accordance with the terms of this Agreement under any and all circumstances whatsoever and irrespective of (i) any lack of validity or enforceability of any Letter of Credit, or any term or provision therein, (ii) any draft or
other document presented under a Letter of Credit proving to be forged, fraudulent or invalid in any respect or any statement therein being untrue or inaccurate in any respect, (iii) payment by the respective Issuing Lender under a Letter of
Credit against presentation of a draft or other document that does not comply strictly with the terms of such Letter of Credit and (iv) any other event or circumstance whatsoever, whether or not similar to any of the foregoing, that might, but
for the provisions of this Section 2.05, constitute a legal or equitable discharge of such Borrower’s obligations hereunder. 
 Neither the Administrative Agent, the Revolving Credit Lenders nor any Issuing Lender, nor any of their Related Parties, shall have any liability or responsibility by reason of or in connection with the
issuance or transfer of any Letter of Credit by any Issuing Lender or any payment or failure to make any payment thereunder (irrespective of any of the circumstances referred to in the preceding sentence), or any error, omission, interruption, loss
or delay in transmission or delivery of any draft, notice or other communication under or relating to any Letter of Credit (including any document required to make a drawing thereunder), any error in interpretation of technical terms or any
consequence arising from causes beyond the control of such Issuing Lender; provided that the foregoing shall not be construed to excuse an Issuing Lender from liability to the Borrowers to the extent of any direct damages (as opposed to
consequential damages, claims in respect of which are hereby waived by the Borrowers to the extent permitted by applicable law) suffered by the Borrowers that are caused by such Issuing Lender’s gross negligence or willful misconduct when
determining whether drafts and other documents presented under a Letter of Credit comply with the terms thereof. The parties hereto expressly agree that: 
 (i) an Issuing Lender may accept documents that appear on their face to be in substantial compliance with the terms of a Letter of Credit without responsibility for

  
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further investigation, regardless of any notice or information to the contrary, and may make payment upon presentation of documents that appear on their face to be in substantial compliance with
the terms of such Letter of Credit; 
 (ii) an Issuing Lender shall have the right, in its sole discretion, to
decline to accept such documents and to make such payment if such documents are not in strict compliance with the terms of such Letter of Credit; and 
 (iii) this sentence shall establish the standard of care to be exercised by an Issuing Lender when determining whether drafts and other documents presented under a Letter of Credit comply with the terms
thereof (and the parties hereto hereby waive, to the extent permitted by applicable law, any standard of care inconsistent with the foregoing). 
 (h) Disbursement Procedures. The Issuing Lender for any Letter of Credit shall, within a reasonable time following its receipt thereof, examine all documents purporting to represent a demand for
payment under any Letter of Credit. Such Issuing Lender shall promptly after such examination notify the Administrative Agent and the relevant Borrower for whose account such Letter of Credit was issued by telephone (confirmed by telecopy) of such
demand for payment and whether such Issuing Lender has made or will make an LC Disbursement thereunder; provided that any failure to give or delay in giving such notice shall not relieve such Borrower of its obligation to reimburse such
Issuing Lender and the Revolving Credit Lenders with respect to any such LC Disbursement. 
 (i) Interim Interest. If the
Issuing Lender for any Letter of Credit shall make any LC Disbursement, then, unless the Borrowers shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day
from and including the date such LC Disbursement is made to but excluding the date that the Borrowers reimburse such LC Disbursement, at the rate per annum then applicable to Syndicated ABR Loans; provided that if the Borrowers fail to
reimburse such LC Disbursement when due pursuant to paragraph (f) of this Section 2.05, then Section 2.13(c) shall apply. Interest accrued pursuant to this paragraph shall be for the account of such Issuing Lender,
except that interest accrued on and after the date of payment by any Revolving Credit Lender pursuant to paragraph (f) of this Section 2.05 to reimburse such Issuing Lender shall be for the account of such Revolving Credit Lender to
the extent of such payment. 
 (j) Existing Letters of Credit. Any letter of credit that has been issued under the
Existing Credit Agreement by an Issuing Lender hereunder and that is designated as a “Letter of Credit” hereunder by the Company in a notice substantially in the form of Exhibit F to the Administrative Agent and such Issuing Lender
on the Effective Date (each such letter of credit being referred to herein as an “Existing Letter of Credit”) shall, on the Effective Date, become a Letter of Credit of such Issuing Lender hereunder. 

(k) Cash Collateralization. If any Borrower shall be required to provide cover for LC Exposure pursuant to paragraph (c)
or (d) of Section 2.11, or the last paragraph of Article IX, such Borrower shall immediately deposit into a segregated collateral account or accounts (collectively, the “Letter of Credit Collateral
Account”) in the name and under the 

  
 39 

 
dominion and control of the Administrative Agent cash in an amount in Dollars equal to the amount required under said paragraphs of Section 2.11 or the last paragraph of
Article IX, as applicable. Such deposit shall be held by the Administrative Agent as collateral in the first instance for the LC Exposure under this Agreement and, subject to the immediately following paragraph, thereafter for the
payment of the other Guaranteed Obligations, and for these purposes each Borrower hereby grants a security interest to the Administrative Agent for the benefit of the Lenders in such Letter of Credit Collateral Account and in any financial assets
(as defined in the Uniform Commercial Code) or other property held therein. 
 Amounts deposited in the Letter of Credit
Collateral Account by any Borrower pursuant to paragraph (c) or (d) of Section 2.11 shall be retained by the Administrative Agent and (i) in the case of amounts deposited pursuant to said paragraph (c),
(x) applied to the payment of LC Disbursements in respect of Letters of Credit as and when the same shall become due (applied ratably to the respective amounts then due and payable to the respective Issuing Lenders) and (y) when all
Letters of Credit shall have been drawn in full or terminated or expired or the condition set forth in said paragraph (c) ceases to exist, any balance therein shall be remitted to such Borrower upon three Business Days’ prior request to
the Administrative Agent and (ii) in the case of amounts deposited pursuant to said paragraph (d), either (x) applied to the payment when due of that portion of the LC Disbursements made by the respective Issuing Lenders in excess of
the amount thereof that the Revolving Credit Lenders are required to pay to the Issuing Lenders under paragraph (e) of this Section 2.05 in respect of drawings on Letters of Credit (applied to the respective Issuing Lenders ratably
in accordance with such excess amounts held by them) or (y) remitted to such Borrower as and to the extent required by Section 2.11(d), provided that if any Event of Default shall occur and be continuing and the Lenders shall
request the provision of cover for outstanding Letters of Credit pursuant to the last paragraph of Article IX, then the amounts deposited pursuant to paragraph (c) or (d) of Section 2.11 shall be deemed to have
instead been deposited pursuant to the last paragraph of Article IX. 
 Amounts deposited in the Letter of Credit
Collateral Account by any Borrower pursuant to the last paragraph of Article IX shall be retained by the Administrative Agent until the payment in full of all Guaranteed Obligations and shall be applied as follows: first, to the
payment of LC Disbursements in respect of Letters of Credit (applied to the LC Disbursements of the respective Issuing Lenders ratably in accordance with the respective amounts thereof), second, to the ratable payment of other Guaranteed
Obligations that are then due and payable and third, after the payment in full of all Guaranteed Obligations, any balance in the Letter of Credit Collateral Account shall be remitted to such Borrower. 

(l) Termination and Re-allocation of Letter of Credit Participations on Fifth Business Day prior to the Earlier Commitment Termination
Date. Notwithstanding anything contained in this Agreement or any other Loan Document to the contrary, on the fifth Business Day prior to the Earlier Commitment Termination Date, the interests and participations of the Non-Extending Lenders in
the Letters of Credit outstanding as of the fifth Business Day prior to the Earlier Commitment Termination Date shall automatically terminate and (i) from and after the fifth Business Day prior to the Earlier Commitment Termination Date, the
Non-Extending Lenders shall have no liability arising from, relating to, in connection with or otherwise in respect of, such interests and participations or any Letters of Credit, and (ii) such interests and participations in outstanding
Letters of Credit shall thereupon automatically and without further 

  
 40 

 
action be re-allocated to the extent necessary such that the interests and participations in such Letters of Credit shall be held by the remaining Lenders ratably in proportion to their
respective Applicable Percentage (determined after giving effect to the termination of the interests and participations of the Non-Extending Lenders on the fifth Business Day prior to the Earlier Commitment Termination Date, with all such
terminations of interests and participations being treated as reductions in Commitments solely for the purposes of this calculation). 
 SECTION 2.06. Funding of Revolving Credit and Incremental Loan Borrowings. 

(a) Funding by Lenders. Each Lender shall make each Revolving Credit Loan or Incremental Loan to be made by it hereunder on the
proposed date thereof by wire transfer of immediately available funds by 2:00 p.m., New York City time, to the account of the Administrative Agent most recently designated by it for such purpose by notice to the Lenders; provided that
Swingline Loans shall be made as provided in Section 2.04. The Administrative Agent will make such Loans available to the respective Borrower by promptly crediting the amounts so received, in like funds, to an account of such Borrower
designated by such Borrower in the applicable Borrowing Request; provided that Syndicated ABR Borrowings made to finance the reimbursement of an LC Disbursement as provided in Section 2.05(f) shall be remitted by the
Administrative Agent to the respective Issuing Lender. 
 (b) Presumption by Administrative Agent. Unless the
Administrative Agent shall have received notice from a Lender prior to the proposed date of any Borrowing that such Lender will not make available to the Administrative Agent such Lender’s share of such Borrowing, the Administrative Agent may
assume that such Lender has made such share available on such date in accordance with paragraph (a) of this Section 2.06 and may, in reliance upon such assumption and in its sole discretion, make available to the relevant Borrower a
corresponding amount. In such event, if a Lender has not in fact made its share of the applicable Borrowing available to the Administrative Agent, then the applicable Lender and such Borrower severally agree to pay to the Administrative Agent
forthwith on demand such corresponding amount with interest thereon, for each day from and including the date such amount is made available to such Borrower to but excluding the date of payment to the Administrative Agent, at (i) in the case of
such Lender, the Federal Funds Effective Rate or (ii) in the case of such Borrower, the interest rate applicable to ABR Loans. If such Lender pays such amount to the Administrative Agent, then such amount shall constitute such
Lender’s Loan included in such Borrowing. 
 SECTION 2.07. Interest Elections. 

(a) Elections for Syndicated Borrowings. Subject to Section 2.03(d), the Loans constituting each Syndicated Borrowing
initially shall be of the Type specified in the applicable Borrowing Request and, in the case of a Eurodollar Borrowing, shall have the Interest Period specified in such Borrowing Request. Thereafter, the respective Borrower may elect to convert
such Borrowing to a Borrowing of a different Type or to continue such Borrowing as a Borrowing of the same Type and, in the case of a Eurodollar Borrowing, may elect the Interest Period therefor, all as provided in this Section 2.07;
provided that (i) a Syndicated Borrowing of a Class may only be continued or converted into a Syndicated Borrowing of the same Class and (ii) no Eurodollar Borrowing of any Class may be continued if, after giving effect thereto, the

  
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aggregate Revolving Credit Exposures or Incremental Loan Exposures of the relevant Class would exceed the aggregate Commitments. The respective Borrower may elect different options with respect
to different portions of the affected Borrowing, in which case each such portion shall be allocated ratably among the Lenders of the respective Class holding the Loans constituting such Borrowing, and the Loans constituting each such portion shall
be considered a separate Borrowing. This Section shall not apply to Swingline Borrowings, which may not be converted or continued. 
 (b) Notice of Elections. To make an election pursuant to this Section 2.07, a Borrower shall notify the Administrative Agent of such election by telephone by the time that a Borrowing
Request would be required under Section 2.03 if such Borrower were requesting a Syndicated Borrowing of the Type resulting from such election to be made on the effective date of such election. Each such telephonic Interest Election
Request shall be irrevocable and shall be confirmed promptly (but no later than the close of business on the date of such request) by hand delivery or telecopy or other electronic transmission to the Administrative Agent of a written Interest
Election Request in a form approved by the Administrative Agent and signed by the relevant Borrower. 
 (c) Content of
Interest Election Requests. Each telephonic and written Interest Election Request shall specify the following information in compliance with Section 2.02: 

(i) the Borrowing (including the Class) to which such Interest Election Request applies and, if different options are
being elected with respect to different portions thereof, the portions thereof to be allocated to each resulting Borrowing (in which case the information to be specified pursuant to clauses (iii) and (iv) of this paragraph shall be
specified for each resulting Borrowing); 
 (ii) the effective date of the election made pursuant to such
Interest Election Request, which shall be a Business Day; 
 (iii) whether the resulting Borrowing is to be an
ABR Borrowing or a Eurodollar Borrowing; and 
 (iv) if the resulting Borrowing is a Eurodollar Borrowing,
the Interest Period therefor after giving effect to such election, which shall be a period contemplated by the definition of the term “Interest Period” and permitted under Section 2.02(d). 

(d) Notification by Administrative Agent to Lenders. Promptly following receipt of an Interest Election Request, the
Administrative Agent shall advise each affected Lender of the details thereof and of such Lender’s portion of each resulting Borrowing. 
 (e) Failure to Elect; Events of Default. If the respective Borrower fails to deliver a timely and complete Interest Election Request with respect to a Eurodollar Borrowing prior to the end of the
Interest Period therefor, then, unless such Borrowing is repaid as provided herein, at the end of such Interest Period such Borrowing shall be converted to a Syndicated ABR Borrowing of the same Class. Notwithstanding any contrary provision hereof,
if an Event of Default has occurred and is continuing and the Administrative Agent at the request of the 

  
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Required Revolving Credit Lenders (in the case of Revolving Credit Borrowings) or the Required Incremental Lenders for a particular Series (in the case of Incremental Borrowings of such Series)
so notifies such Borrower, then, so long as an Event of Default is continuing no outstanding Eurodollar Borrowing may have an Interest Period of more than one month’s duration. 

SECTION 2.08. Termination, Reduction and Increase of Revolving Credit Commitments. 

(a) Scheduled Termination and Reduction. Unless previously terminated, (i) the Revolving Credit Commitments shall terminate
at the close of business on the Later Commitment Termination Date and (ii) the Incremental Loan Commitments of any Series shall terminate on the close of business on the commitment termination date, and shall reduce on the dates and in the
amounts (if any), in each case specified in the agreement establishing such Series pursuant to Section 2.01(b). 

(b) Voluntary Terminations and Reductions. The Borrowers may at any time terminate, or from time to time reduce, the Commitments
of any Class; provided that (i) each reduction of the Commitments of such Class shall be in an amount that is at least equal to $10,000,000 or any greater multiple of $5,000,000, (ii) the Borrowers shall not terminate or reduce the
Revolving Credit Commitments if, after giving effect to any concurrent prepayment of Revolving Credit Loans (or cover for Letters of Credit by deposit by any Obligor to the Letter of Credit Collateral Account) in accordance with the terms hereof,
the total Revolving Credit Exposures would exceed the total Revolving Credit Commitments and (iii) the Borrowers shall not terminate or reduce the Incremental Loan Commitments of any Series if, after giving effect to any concurrent prepayment
of the Incremental Loans of such Series in accordance with Section 2.11, the total Incremental Loan Exposures of such Series would exceed the total Incremental Loan Commitments of such Series. 

(c) Notification of Termination or Reduction. The Borrowers shall notify the Administrative Agent of any election to terminate or
reduce Commitments of any Class under paragraph (b) of this Section 2.08 at least three Business Days prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Promptly
following receipt of any such notice, the Administrative Agent shall advise the affected Lenders of the contents thereof. Each notice delivered by the Borrowers pursuant to this Section 2.08 shall be irrevocable; provided that a
notice of termination of Commitments of a Class delivered by the Borrowers may state that such notice is conditioned upon the issuance of securities or the effectiveness of other credit facilities, in which case such notice may be revoked by the
Borrowers (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied. 
 (d) Effect of Termination or Reduction. Any termination or reduction of the Commitments of a Class shall be permanent. Each reduction of the Commitments of a Class shall be made ratably among the
Lenders of such Class in accordance with their respective Commitments. 

  
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 (e) Increase of the Commitments. 

(i) Requests for Increase by Borrowers. The Borrowers may, at any time prior to the Later Commitment Termination
Date, propose that the Revolving Credit Commitments be increased (each such proposed increase being a “Commitment Increase”) by notice to the Administrative Agent, specifying each existing Revolving Credit Lender (each an
“Increasing Lender”) and/or each additional lender (each an “Assuming Lender”) that shall have agreed to an additional Revolving Credit Commitment and the date on which such increase is to be effective (the
“Commitment Increase Date”), which shall be a Business Day at least three Business Days after delivery of such notice and 30 days prior to the Later Commitment Termination Date; provided that: 

(A) the minimum amount of any such increase shall be $20,000,000 or a larger multiple of $1,000,000, and the minimum
amount of the Revolving Credit Commitment of any Assuming Lender, and the minimum amount of the increase of the Revolving Credit Commitment of any Increasing Lender, as part of such Commitment Increase shall be $5,000,000 or a larger multiple of
$1,000,000 in excess thereof; 
 (B) immediately after giving effect to each Commitment Increase, the sum of the
Net Commitment Increase Amount plus the Net Incremental Increase Amount plus the aggregate undrawn amount of all Secured LOCs shall not exceed $300,000,000; 

(C) the Company shall have delivered to the Administrative Agent certificate of the Company stating on such Commitment
Increase Date that (i) no Default has occurred and is continuing and (ii) the representations and warranties contained in this Agreement are true and correct in all material respects as if made on and as of such date (or, if any such
representation or warranty is expressly stated to have been made as of a specific date, as of such specific date); and 
 (D) each Assuming Lender shall be acceptable to the Administrative Agent and each Issuing Lender (who agree not to withhold acceptance unreasonably). 

(ii) Effectiveness of Commitment Increase. Each Assuming Lender, if any, shall become a Revolving Credit Lender
hereunder as of such Commitment Increase Date and the Revolving Credit Commitment of any Increasing Lender and such Assuming Lender shall be increased as of such Commitment Increase Date; provided that: 

(x) the Administrative Agent shall have received on or prior to 11:00 a.m., New York City time, on such Commitment
Increase Date (or on or prior to a time on an earlier date specified by the Administrative Agent) a certificate of a duly authorized officer of the Company stating that each of the applicable conditions to such Commitment Increase set forth in the
foregoing paragraph (i) has been satisfied; and 

  
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 (y) each Assuming Lender or Increasing Lender shall have delivered to the
Administrative Agent, on or prior to 11:00 a.m., New York City time on such Commitment Increase Date (or on or prior to a time on an earlier date specified by the Administrative Agent), an agreement, in form and substance reasonably
satisfactory to the Borrowers and the Administrative Agent, pursuant to which such Lender shall, effective as of such Commitment Increase Date, undertake a Revolving Credit Commitment or an increase of Revolving Credit Commitment duly executed by
such Assuming Lender and the Borrowers and acknowledged by the Administrative Agent. 
 Promptly following satisfaction of such
conditions, the Administrative Agent shall notify the Revolving Credit Lenders (including any Assuming Lenders) thereof and of the occurrence of the Commitment Increase Date by facsimile transmission or electronic messaging system. 

(iii) Recordation into Register. Upon its receipt of an agreement referred to in clause (ii)(y) above executed
by an Assuming Lender or any Increasing Lender, together with the certificate referred to in clause (ii)(x) above, the Administrative Agent shall, if such agreement has been completed, (x) accept such agreement, (y) record the
information contained therein in the Register and (z) give prompt notice thereof to the Borrowers. 
 (iv)
Adjustments of Borrowings. On the Commitment Increase Date, the Borrowers shall (A) prepay in full the outstanding Revolving Credit Loans (if any) made to them, (B) simultaneously borrow new Revolving Credit Loans hereunder in an
amount equal to such prepayment and (C) pay to the Revolving Credit Lenders the amounts, if any, payable under Section 2.16 as a result of any such prepayment; provided that with respect to subclauses (A) and (B),
(x) the prepayment to, and borrowing from, any existing Lender shall be effected by book entry to the extent that any portion of the amount prepaid to such Lender will be subsequently borrowed from such Lender and (y) the existing Lenders,
the Increasing Lenders and the Assuming Lenders shall make and receive payments among themselves, in a manner acceptable to the Administrative Agent, so that, after giving effect thereto, the Revolving Credit Borrowings are held ratably by the
Revolving Credit Lenders in accordance with the respective Revolving Credit Commitments of the Revolving Credit Lenders (after giving effect to such Commitment Increase). Concurrently therewith, the Revolving Credit Lenders shall be deemed to have
adjusted their participation interests in any outstanding Letters of Credit so that such interests are held ratably in accordance with their Revolving Credit Commitments as so increased. 

SECTION 2.09. Extension of Commitment Termination Date. 
 (a) Requests for Extension. The Company may, by notice to the Administrative Agent (who shall promptly notify the Lenders) not earlier than the first anniversary of the Effective Date and not
later than 35 days prior to a Commitment Termination Date hereunder in respect of the Revolving Credit Loan (the “Existing Commitment Termination  

  
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Date”), request that each Revolving Credit Lender extend such Lender’s Commitment Termination Date in respect of the Revolving Credit Loan for an additional 364 days after the
Existing Commitment Termination Date (the date of such request, the “Extension Request Date”), which notice shall set forth the desired effective date for such extension (the “Requested Extension Date”),
provided that in no case shall (i) there be more than two one-year extensions of a Commitment Termination Date pursuant to this Section 2.09 and (ii) the Company make an extension request that would result in three
different Commitment Termination Dates existing simultaneously. 
 (b) Lender Elections to Extend. Each
Revolving Credit Lender, acting in its sole and individual discretion, shall, by notice to the Administrative Agent given not later than the date (the “Notice Date”) that is 20 days after the Extension Request Date (or, if such date
is not a Business Day, on the next preceding Business Day), advise the Administrative Agent whether or not such Revolving Credit Lender agrees to such extension (and each Revolving Credit Lender that determines not to so extend its Commitment
Termination Date (each, a “Non-Extending Lender”) shall notify the Administrative Agent of such fact promptly after such determination (but in any event no later than the Notice Date) and any Revolving Credit Lender that does not so
advise the Administrative Agent on or before the Notice Date shall be deemed to be a Non-Extending Lender. The election of any Revolving Credit Lender to agree to such extension shall not obligate any other Revolving Credit Lender to so agree.

 (c) Notification by Administrative Agent. The Administrative Agent shall notify the Company of each
Revolving Credit Lender’s determination under this Section 2.09 no later than the date 25 days after the Extension Request Date (or, if such date is not a Business Day, on the next preceding Business Day). 

(d) New Lenders. The Company shall have the right to replace each Non-Extending Lender with, and add as “Revolving
Credit Lenders” under this Agreement in place thereof, one or more assignees (each, a “New Lender”) as provided in Section 2.18; provided that each of such New Lenders shall enter into an Assignment and
Assumption pursuant to which such New Lender shall, effective as of the Existing Commitment Termination Date, undertake a Revolving Credit Commitment having a Commitment Termination Date occurring on the date falling 364 days after the Existing
Commitment Termination Date (and, if any such New Lender is already a Revolving Credit Lender, its Revolving Credit Commitment shall be in addition to any other Revolving Credit Commitment of such Lender hereunder on such date). New Lenders
shall only become Revolving Credit Lenders pursuant to Section 2.18 if the extension request is approved pursuant to subsection (e) below. 
 (e) Minimum Extension Requirement. If (and only if) the Required Lenders, immediately prior to the Requested Extension Date, have agreed so to extend their Commitment Termination Date
(each, including the New Lenders, an “Extending Lender”), then, effective as of the Requested Extension Date, the Commitment Termination Date of each Extending Lender shall be extended to the date falling 364 days after the Existing
Commitment Termination Date (except that, if such date is not a Business Day, such Commitment Termination Date as so extended shall be the next preceding Business Day). 

  
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 (f) Conditions to Effectiveness of Extensions. As a condition precedent to
such extension, the Company shall deliver to the Administrative Agent a certificate of each Obligor dated as of the Requested Extension Date signed by a Responsible Officer of such Obligor (i) certifying and attaching the resolutions adopted by
such Obligor approving or consenting to such extension and (ii) certifying that, before and after giving effect to such extension, (A) the representations and warranties contained in Article V and the other Loan Documents are true
and correct in all material respects (or, to the extent modified by materiality or Material Adverse Effect, in all respects) on and as of the Requested Extension Date, except to the extent that such representations and warranties specifically refer
to an earlier date, in which case they are true and correct in all material respects (or, to the extent modified by materiality or Material Adverse Effect, in all respects) as of such earlier date, and except that for purposes of this
Section 2.09, the representations and warranties contained in Section 5.04 shall be deemed to refer to the most recent statements furnished pursuant to subsections (a) and (b), respectively, of Section 7.01,
and (B) no Default exists. In addition, on the Commitment Termination Date of each Non-Extending Lender, the Borrowers shall prepay any Revolving Credit Loans of such Non-Extending Lenders outstanding on such date (and pay any additional
amounts required pursuant to Section 2.16) to the extent necessary to keep outstanding Revolving Credit Loans ratable with any revised Applicable Percentages of the respective Lenders effective as of such date. 

(g) Extension by Additional Lenders. At any time after the effectiveness of an extension of the Commitment Termination
Date pursuant to this Section 2.09 but prior to the Commitment Termination Date in effect with regard to such Lender prior to it becoming an Extending Lender, any Lender that is originally a Non-Extending Lender in connection with any
extension that becomes effective may agree to become an Extending Lender by a writing delivered to the Administrative Agent and the Company, and promptly after receipt of such writing by the Administrative Agent, such Lender shall be an Extending
Lender. 
 (h) Conflicting Provisions. This Section shall supersede any provisions in Section 2.17
or 11.02 to the contrary. 
 SECTION 2.10. Repayment of Loans; Evidence of Debt. 

(a) Repayment. The Borrowers hereby unconditionally jointly and severally promise to pay the Loans of each Class as follows:

 (i) to the Administrative Agent for account of the Revolving Credit Lenders, the outstanding principal amount
of the Syndicated Revolving Credit Loans on each such Lenders’ Commitment Termination Date; 
 (ii) to the
Swingline Lender, the then unpaid principal amount of each Swingline Loan on the earlier of such Lender’s Commitment Termination Date and the fifth Business Day after such Swingline Loan is made; and 

(iii) to the Administrative Agent for account of the Incremental Lenders of any Series, the outstanding principal amount
of the Incremental Loans of such Series on the maturity date for such Incremental Loans specified at the date such Incremental Loans are established hereunder. 

  
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 (b) Manner of Payment. Prior to any repayment or prepayment of any Borrowings of any
Class hereunder, the respective Borrower shall select the Borrowing or Borrowings of such Class to be paid and shall notify the Administrative Agent by telephone (confirmed by telecopy) of such selection not later than 11:00 a.m., New York City
time, three Business Days before the scheduled date of such repayment; provided that each repayment of Borrowings of a Class shall be applied to repay any outstanding ABR Borrowings of such Class before any other Borrowings of such
Class. If the respective Borrower fails to make a timely selection of the Borrowing or Borrowings to be repaid or prepaid, such payment shall be applied, first, to pay any outstanding ABR Borrowings of the applicable Class and, second, to other
Borrowings of such Class in the order of the remaining duration of their respective Interest Periods (the Borrowing with the shortest remaining Interest Period to be repaid first). Each payment of a Syndicated Borrowing shall be applied ratably to
the Loans included in such Borrowing. 
 (c) Maintenance of Records by Lenders. Each Revolving Credit Lender and
Incremental Lender shall maintain in accordance with its usual practice records evidencing the indebtedness of each Borrower to such Lender resulting from each Revolving Credit or Incremental Loan of any Series made by such Lender, including the
amounts of principal and interest payable and paid to such Lender from time to time hereunder. 
 (d) Maintenance of Records
by the Administrative Agent. The Administrative Agent shall maintain records in which it shall record (i) the relevant Borrower, amount of each Revolving Credit Loan and Incremental Loan made hereunder, the Class and Type thereof and each
Interest Period therefor, (ii) the amount of any principal or interest due and payable or to become due and payable from such Borrower to each Lender of such Class hereunder and (iii) the amount of any sum received by the Administrative
Agent hereunder for account of such Lenders and each such Lender’s share thereof. 
 (e) Effect of Entries. The
entries made in the records maintained pursuant to paragraph (c) or (d) of this Section 2.10 shall be prima facie evidence, absent obvious error, of the existence and amounts of the obligations recorded therein;
provided that the failure of any Revolving Credit Lender or Incremental Lender or the Administrative Agent to maintain such records or any error therein shall not in any manner affect the obligation of a Borrower to repay the Revolving Credit
Loans or Incremental Loans made to it in accordance with the terms of this Agreement; provided further that in the event of any conflict between the records maintained pursuant to paragraph (c) and (d) of this
Section 2.10, entries made in the Register shall control. 
 (f) Promissory Notes. Any Revolving Credit
Lender or Incremental Lender may request that Loans of any Class made by it be evidenced by a promissory note. In such event, each Borrower shall prepare, execute and deliver to such Lender a promissory note payable to such Lender (or, if requested
by such Lender, to such Lender and its registered assigns) and in a form approved by the Administrative Agent. Thereafter, the Loans evidenced by such promissory note and interest thereon shall at all times (including after assignment pursuant to
Section 11.08) be represented by one or more promissory notes in such form payable to the payee named therein (or, if such promissory note is a registered note, to such payee and its registered assigns). 

  
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 SECTION 2.11. Prepayment of Loans. 

(a) Optional Prepayments. The Borrowers shall have the right at any time and from time to time to prepay any Syndicated Loans or
Swingline Loans in whole or in part, without premium or penalty, subject to prior notice in accordance with paragraph (e) of this Section 2.11. 
 (b) Mandatory Prepayments – Asset Sales. The Borrowers shall make prepayments of the Revolving Credit Loans and Incremental Loans hereunder as follows (it being understood that the Borrowers
shall not be required to provide cover for LC Exposure as a result of any such events): 
 (i) Sale of
Assets. Without limiting the obligation of the Borrowers to obtain the consent of the Required Lenders to any Disposition not otherwise permitted hereunder, each Borrower agrees, on or prior to the occurrence of any Disposition affecting
property of such Borrower or any of its Restricted Subsidiaries, to deliver to the Administrative Agent a statement certified by a Financial Officer, in form and detail reasonably satisfactory to the Administrative Agent, of the estimated amount of
the Net Cash Proceeds of such Disposition that will (on the date of such Disposition) be received by such Borrower or any of its Restricted Subsidiaries in cash and, unless such Borrower or Restricted Subsidiary shall elect to reinvest such Net Cash
Proceeds as provided below, such Borrower or any other Borrower (at such Borrower’s option) will prepay such Loans hereunder as follows: 
 (x) upon the date of such Disposition, in an aggregate amount equal to 100% of such estimated amount of the Net Cash Proceeds of such Disposition, to the extent received by such Borrower or any of its
Restricted Subsidiaries in cash on the date of such Disposition; and 
 (y) thereafter, quarterly, on the date of
the delivery by the Parent to the Administrative Agent pursuant to Section 7.01 of the financial statements for any quarterly fiscal period or fiscal year, to the extent such Borrower or any of its Restricted Subsidiaries shall receive
Net Cash Proceeds during the quarterly fiscal period ending on the date of such financial statements in cash under deferred payment arrangements or Disposition Investments entered into or received in connection with any Disposition, an amount equal
to (A) 100% of the aggregate amount of such Net Cash Proceeds minus (B) any transaction expenses associated with Dispositions and not previously deducted in the determination of Net Cash Proceeds plus (or minus, as the
case may be) (C) any other adjustment received or paid by such Borrower or any of its Restricted Subsidiaries pursuant to the respective agreements giving rise to Dispositions and not previously taken into account in the determination of the
Net Cash Proceeds of Dispositions, provided that if prior to the date upon which such Borrower would otherwise be required to make a prepayment under this clause (y) with respect to any quarterly fiscal

  
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period, the aggregate amount of such Net Cash Proceeds (after giving effect to the adjustments provided for in this clause (y)) shall exceed $25,000,000, then such Borrower shall within
three Business Days make a prepayment under this clause (y) in an amount equal to such required prepayment. 
 Prepayments
of Loans shall be effected in each case in the manner and to the extent specified in clause (ii) of this Section 2.11(b). 
 Notwithstanding the foregoing, (A) a Borrower shall not be required to make a prepayment pursuant to this Section 2.11(b)(i) with respect to the Net Cash Proceeds from any Disposition in
the event that such Borrower advises the Administrative Agent at the time a prepayment is required to be made under the foregoing clauses (x) or (y) that it or such Restricted Subsidiary intends to reinvest, directly or through one of more
of its Subsidiaries, such Net Cash Proceeds into assets pursuant to one or more Capital Expenditures or acquisitions of assets permitted hereunder, so long as the Net Cash Proceeds from any Disposition by such Borrower or any of its Restricted
Subsidiaries are in fact so reinvested within twelve months of such Disposition (it being understood that, in the event more than one Disposition shall occur during any twelve-month period, the Net Cash Proceeds received in connection with such
Dispositions shall be reinvested in the order in which such Dispositions shall have occurred) and, accordingly, any such Net Cash Proceeds so held for more than twelve months shall be forthwith applied to the prepayment of Loans as provided in
clause (ii) of this Section 2.11(b) and (B) in no event shall a Borrower be required to make a prepayment pursuant to this Section 2.11(b)(i) with respect to Net Cash Proceeds received in any fiscal year of the
Parent except to the extent that the aggregate amount of Net Cash Proceeds of Dispositions received by the Parent and its Subsidiaries in such fiscal year exceeds 7.5% of consolidated tangible assets of the Parent and its Subsidiaries as at the last
day of the fiscal year of the Parent preceding such fiscal year, in which case the provisions of this Section 2.11(b)(i) shall apply with respect to such excess amount. 

(ii) Application. Upon the occurrence of any of the events described in the above paragraphs of this
Section 2.11(b), but subject to the last paragraph of Section 11.05(a), the amount of the required prepayment shall be applied first to the prepayment of any Swingline Loans and second to the prepayment of any
other Loans (including Incremental Loans), without reduction of the Revolving Credit Commitments or any Incremental Loan Commitments. 
 (c) Mandatory Prepayments – Outstandings Exceeding Commitments. The Borrowers will prepay the Revolving Credit Loans (and/or provide cover for the LC Exposure as specified in
Section 2.05(k)) in the event that the aggregate amount of the Revolving Credit Exposure shall at any time exceed the aggregate amount of the Revolving Credit Commitments for any reason other than changes in exchange rates, and will
prepay the Incremental Loans of any Series in the event that the aggregate amount of the Incremental Loan Exposure of such Series shall at any time exceed the aggregate amount of the Incremental Loan Commitments of such Series for any such reason.

  
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 (d) Mandatory Prepayments due to Changes in Exchange Rates. 

(i) Determination of Amount Outstanding. On each Monthly Date, on each Revolving Discretionary Request Date (as
defined below), on each date that a Borrower shall request a Revolving Credit Borrowing or the issuance, amendment, renewal or extension of a Letter of Credit and, in addition, promptly upon the receipt by the Administrative Agent of a Currency
Valuation Notice (as defined below), the Administrative Agent shall determine the aggregate Revolving Credit Exposure. For the purpose of this determination, the outstanding face amount of any Letter of Credit that is denominated in any Foreign
Currency shall be deemed to be the Dollar Equivalent of the amount in the Foreign Currency of such Letter of Credit, determined as of such Monthly Date, Revolving Discretionary Request Date, date of such proposed Revolving Credit Borrowing,
issuance, amendment, renewal or extension or, in the case of a Currency Valuation Notice received by the Administrative Agent prior to 11:00 a.m., New York City time, on a Business Day, on such Business Day or, in the case of a Currency
Valuation Notice otherwise received, on the first Business Day after such Currency Valuation Notice is received. Upon making such determination, the Administrative Agent shall promptly notify the Revolving Credit Lenders and the Borrowers thereof.

 (ii) Prepayment and Cover. If, on the date of such determination (after giving effect to any prior or
substantially concurrent deposit made by the respective Borrower, at its option, to the Letter of Credit Collateral Account) the aggregate Revolving Credit Exposure exceeds the aggregate amount of the Revolving Credit Commitments as then in effect
(such excess, an “Excess”), the Borrowers shall, if requested by the Administrative Agent (or, in the case of Revolving Credit Exposure, by any Issuing Lender), within three Business Days following the Borrowers’ receipt of
such request: 
 (A) if any Revolving Credit Loans are outstanding, prepay all such Revolving Credit Loans or
such portion thereof as is sufficient to eliminate the Excess, and 
 (B) if such prepayment is not sufficient to
eliminate the Excess, provide cover for LC Exposure pursuant to Section 2.05(k) in an amount sufficient to eliminate the Excess. 

For purposes hereof, “Currency Valuation Notice” means a notice given by the Required Revolving Credit Lenders or any Issuing Lender to
the Administrative Agent stating that such notice is a “Currency Valuation Notice” and requesting that the Administrative Agent determine the aggregate Revolving Credit Exposure. 

Any prepayment of Loans constituting Revolving Credit Exposure pursuant to this paragraph shall be applied, first, to Swingline
Loans outstanding and second, to Syndicated Revolving Credit Loans outstanding. 
 If as at any Monthly Date (or on up to
two other dates during any calendar year requested by the Company; any such date being herein called a “Revolving Discretionary Request Date”) it shall be determined that the aggregate amount of Revolving Credit Exposure is

  
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less than the Revolving Credit Commitments and any cover is at the time held by the Administrative Agent under Section 2.05(k), the Administrative Agent shall, within three Business
Days after request therefor by the Company, remit such portion (or all) of such cover as will not result in the aggregate Revolving Credit Exposure exceeding the Revolving Credit Commitments. 

(e) Notices, Etc. The Borrowers shall notify the Administrative Agent (and, in the case of prepayment of a Swingline Loan, the
Swingline Lender) by telephone (confirmed by telecopy) of any prepayment hereunder (i) in the case of prepayment of a Eurodollar Borrowing, not later than 11:00 a.m., New York City time, three Business Days before the date of prepayment,
(ii) in the case of prepayment of a Syndicated ABR Borrowing, not later than 11:00 a.m., New York City time, on the date of prepayment or (iii) in the case of prepayment of a Swingline Loan, not later than 12:00 noon, New
York City time, on the date of prepayment. Each such notice shall be irrevocable and shall specify the prepayment date, the principal amount of each Borrowing or portion thereof to be prepaid and, in the case of a mandatory prepayment, a reasonably
detailed calculation of the amount of such prepayment; provided that if a notice of prepayment is given in connection with a conditional notice of termination of the Commitments of a Class as contemplated by Section 2.08, then
such notice of prepayment may be revoked if such notice of termination is revoked in accordance with Section 2.08. Promptly following receipt of any such notice relating to a Borrowing, the Administrative Agent shall advise the affected
Lenders of the contents thereof. Each partial prepayment of any Borrowing shall be in an amount that would be permitted in the case of a Borrowing of the same Type as provided in Section 2.02, except as necessary to apply fully the
required amount of a mandatory prepayment. Each prepayment of a Syndicated Borrowing of a Class shall be applied ratably to the Loans of such Class included in the prepaid Borrowing. 

(f) Prepayments Accompanied by Interest. Prepayments shall be accompanied by accrued interest to the extent required by
Section 2.13. 
 SECTION 2.12. Fees. 

(a) Commitment Fees. The Company agrees to pay to the Administrative Agent for the account of each Lender a commitment fee
(herein, the “Commitment Fee”) on the average daily unused amount of the Commitment of such Lender during the period from and including the Effective Date to but excluding the date on which such Revolving Credit Commitment
terminates. The Commitment Fees shall accrue at a rate per annum equal to the Applicable Margin for Commitment Fees, in the case of the Revolving Credit Commitments, or the rate per annum agreed to between the Company and the applicable Incremental
Lenders, in the case of Incremental Loan Commitments of any Series. Accrued Commitment Fees on each Commitment shall be payable on each Quarterly Date and on the date such Commitment terminates, commencing on the first such date to occur after the
Effective Date. All Commitment Fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). Solely for purposes of calculating the
Commitment Fees, Swingline Loans shall not be deemed to be utilizations of the Revolving Credit Commitments. 

  
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 (b) Letter of Credit Fees. Each Borrower agrees to pay with respect to Letters of
Credit outstanding hereunder that are issued for its account the following fees: 
 (i) to the Administrative
Agent for the account of each Revolving Credit Lender a participation fee with respect to its participations in Letters of Credit, which shall accrue (x) at a rate per annum equal to the Applicable Margin for Performance Letters of Credit on
the average daily amount of such Lender’s LC Exposure relating to Performance Letters of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements) and (y) at a rate per annum equal to the Applicable Margin for
other Letters of Credit on the average daily amount of such Lender’s LC Exposure relating to other Letters of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), in each case during the period from and
including the Effective Date to but excluding the later of the date on which such Lender’s Revolving Credit Commitment terminates and the date on which there shall no longer be any Letters of Credit outstanding hereunder, and 

(ii) to the Issuing Lender of each Letter of Credit (x) a fronting fee, which shall accrue at the rate per annum
separately agreed upon between the Company and such Issuing Lender on the average daily amount of the LC Exposure of such Issuing Lender (determined for these purposes without giving effect to the participations therein of the Revolving Credit
Lenders pursuant to paragraph (e) of Section 2.05, and excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Effective Date to but excluding the later of the date of
termination of the Revolving Credit Commitments and the date on which there shall no longer be any Letters of Credit of such Issuing Lender outstanding hereunder, and (y) such Issuing Lender’s standard fees with respect to the issuance,
amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. 
 Accrued participation fees and fronting fees
shall be payable in arrears on each Quarterly Date and on the date the Revolving Credit Commitments terminate, commencing on the first such date to occur after the date hereof, provided that any such fees accruing after the date on which the
Revolving Credit Commitments terminate shall be payable on demand. Any other fees payable to an Issuing Lender pursuant to this paragraph shall be payable within 10 days after demand. All participation fees and fronting fees shall be computed on the
basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). 
 (c) Administrative Agency Fees. The Company agrees to pay to the Administrative Agent, for its own account, fees payable in the amounts and at the times separately agreed in writing between the
Company and the Administrative Agent. 
 (d) Payment of Fees. All fees payable hereunder shall be paid on the dates due,
in immediately available funds, to the Administrative Agent (except for fronting fees, which shall be paid directly to the respective Issuing Lenders) for distribution to the Revolving Credit Lenders entitled thereto. Fees paid shall not be
refundable under any circumstances, absent manifest error in the determination thereof. 

  
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 SECTION 2.13. Interest. 

(a) ABR Loans. Loans constituting each ABR Borrowing shall bear interest at a rate per annum equal to the Alternate Base
Rate plus the Applicable Margin. 
 (b) Eurodollar Loans. Loans constituting each Eurodollar Borrowing shall bear
interest at a rate per annum equal to the Adjusted LIBO Rate for the related Interest Period for such Borrowing plus the Applicable Margin. 
 (c) Default Interest. Notwithstanding the foregoing, if any principal of or interest on any Loan or any fee or other amount payable by a Borrower hereunder is not paid when due, whether at stated
maturity, upon acceleration, by mandatory prepayment or otherwise, such overdue amount shall bear interest, after as well as before judgment, at a rate per annum equal to (i) in the case of overdue principal of any Loan, 2% plus the rate
otherwise applicable to such Loan as provided above or (ii) in the case of any other amount, 2% plus the rate applicable to ABR Loans as provided in paragraph (a) of this Section 2.13. 

(d) Payment of Interest. Accrued interest on each Loan shall be payable in arrears on each Interest Payment Date for such Loan and
upon termination of the related Commitments; provided that (i) interest accrued pursuant to paragraph (c) of this Section 2.13 shall be payable on demand, (ii) in the event of any repayment or prepayment of any Loan
(other than a prepayment of a Syndicated ABR Loan prior to the Later Commitment Termination Date), accrued interest on the principal amount repaid or prepaid shall be payable on the date of such repayment or prepayment and (iii) in the
event of any conversion of any Eurodollar Borrowing prior to the end of the Interest Period therefor, accrued interest on such Borrowing shall be payable on the effective date of such conversion. 

(e) Computation. All interest hereunder shall be computed on the basis of a year of 360 days, except that interest computed by
reference to the Alternate Base Rate at times when the Alternate Base Rate is based on the Prime Rate shall be computed on the basis of a year of 365 days (or 366 days in a leap year), and in each case shall be payable for the actual number of days
elapsed (including the first day but excluding the last day). The applicable Alternate Base Rate or Adjusted LIBO Rate shall be determined by the Administrative Agent, and such determination shall be conclusive absent manifest error. 

SECTION 2.14. Alternate Rate of Interest. If prior to the commencement of the Interest Period for any Eurodollar Borrowing of a
Class: 
 (a) the Administrative Agent determines (which determination shall be conclusive absent manifest error)
that adequate and reasonable means do not exist for ascertaining the Adjusted LIBO Rate for such Interest Period; or 
 (b) the Administrative Agent is advised by the Required Revolving Credit Lenders (if such Borrowing is a Revolving Credit Borrowing) or the Required Incremental Lenders of the relevant Series (if such
Borrowing is an Incremental Borrowing) that the Adjusted LIBO Rate for such Interest Period will not adequately and fairly reflect the cost to such Lenders of making or maintaining their respective Loans included in such Borrowing for such Interest
Period; 

  
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 then the Administrative Agent shall give notice thereof to the affected Borrower and the affected Lenders by
telephone or telecopy as promptly as practicable thereafter and, until the Administrative Agent notifies such Borrower and such Lenders that the circumstances giving rise to such notice no longer exist, (i) any Interest Election Request that
requests the conversion of any Borrowing to, or the continuation of any Borrowing as, a Eurodollar Borrowing shall be ineffective and such Borrowing (unless prepaid) shall be continued as, or converted to, an ABR Borrowing and (ii) if any
Borrowing Request requests a Eurodollar Borrowing, such Borrowing shall be made as an ABR Borrowing; provided that in the case of clause (b) above: (x) at the request of the affected Borrower, the Required Revolving Credit
Lenders or the Required Incremental Lenders of such Series, as the case may be, shall propose an increased Applicable Margin for Borrowings of such Class that would result in the Adjusted LIBO Rate plus the amount of such increase adequately
and fairly reflecting the cost to such Lenders of making or maintaining their respective Loans included in such Borrowing for such Interest Period and (y) if such Borrower accepts such increase, then such increase shall become effective during
such Interest Period in lieu of the consequences described in the preceding clause (x) during such Interest Period. 

SECTION 2.15. Increased Costs. 
 (a) Increased Costs Generally. If any Change in Law shall: 

(i) impose, modify or deem applicable any reserve, special deposit, or similar requirement against assets of, deposits
with or for the account of, or credit extended by, any Lender (except any such reserve requirement reflected in the Adjusted LIBO Rate) or any Issuing Lender; or 

(ii) impose on any Lender or any Issuing Lender or the London interbank market any other condition affecting this
Agreement or Eurodollar Loans made by such Lender or any Letter of Credit or participation therein; 
 and the result of any of the foregoing
shall be to increase the cost to such Lender of making or maintaining any Eurodollar Loan (or of maintaining its obligation to make any such Loan) or to increase the cost to such Lender or such Issuing Lender of participating in, issuing or
maintaining any Letter of Credit or to reduce the amount of any sum received or receivable by such Lender or such Issuing Lender hereunder (whether of principal, interest or otherwise), then the relevant Borrower will pay to such Lender or such
Issuing Lender, as the case may be, such additional amount or amounts as will compensate such Lender or such Issuing Lender, as the case may be, for such additional costs incurred or reduction suffered. 

(b) Capital Requirements. If any Lender or any Issuing Lender determines that any Change in Law regarding capital or liquidity
requirements has or would have the effect of reducing the rate of return on such Lender’s or such Issuing Lender’s capital or on the capital of such Lender’s or such Issuing Lender’s holding company, if any, as a consequence of
this Agreement or the Loans made by, or participations in Swingline Loans and Letters of Credit held 

  
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by, such Lender, or the Letters of Credit issued by such Issuing Lender, to a level deemed to be material by such Lender or such Issuing Lender below that which such Lender or such Issuing Lender
or such Lender’s or such Issuing Lender’s holding company could have achieved but for such Change in Law (taking into consideration such Lender’s or such Issuing Lender’s policies and the policies of such Lender’s or such
Issuing Lender’s holding company with respect to capital adequacy and liquidity), then from time to time the Borrowers will pay to such Lender or such Issuing Lender, as the case may be such additional amount or amounts as will compensate such
Lender or such Issuing Lender or such Lender’s or such Issuing Lender’s holding company for any such reduction suffered. 
 (c) Certificates from Lenders. A certificate of a Lender or an Issuing Lender setting forth the amount or amounts necessary to compensate such Lender or such Issuing Lender or its holding company,
as the case may be, as specified in paragraph (a) or (b) of this Section 2.15 shall be promptly delivered to the Company and shall be conclusive absent manifest error. The Company shall pay or cause to be paid to such Lender or
such Issuing Lender, as the case may be, the amount shown as due on any such certificate within 10 days after receipt thereof. 

(d) Delay in Requests. Failure or delay on the part of any Lender or any Issuing Lender to demand compensation pursuant to this
Section 2.15 shall not constitute a waiver of such Lender’s or such Issuing Lender’s right to demand such compensation; provided that no Borrower shall be required to compensate a Lender or an Issuing Lender pursuant to
this Section 2.15 for any increased costs or reductions incurred more than six months prior to the date that such Lender or such Issuing Lender, as the case may be, notifies the Company of the Change in Law giving rise to such increased
costs or reductions and of such Lender’s or such Issuing Lender’s intention to claim compensation therefor; provided further that, if the Change in Law giving rise to such increased costs or reductions is retroactive, then
the six-month period referred to above shall be extended to include the period of retroactive effect thereof. 
 (e)
Taxes. This Section 2.15 shall not apply to increased costs with respect to (i) Taxes with respect to payments by or on account of any obligation of any Borrower or other Obligor hereunder or under any other Loan Document
(which shall be governed solely by Section 11.04) or (ii) Excluded Taxes. 
 SECTION 2.16. Break Funding
Payments. In the event of (a) the payment of any principal of any Eurodollar Loan other than on the last day of an Interest Period therefor (including as a result of an Event of Default), (b) the conversion of any Eurodollar Loan other
than on the last day of an Interest Period therefor, (c) the failure to borrow, convert, continue or prepay any Eurodollar Loan on the date specified in any notice delivered pursuant hereto (regardless of whether such notice is permitted to be
revocable under Section 2.11(e) and is revoked in accordance herewith), or (d) the assignment as a result of a request by the Borrowers pursuant to Section 2.18 of any Eurodollar Loan other than on the last day of an
Interest Period therefor, then, in any such event, the respective Borrowers shall compensate each Revolving Credit Lender or Incremental Lender, as applicable, for the loss, cost and expense attributable to such event. 

The loss to any Lender attributable to any such event shall be deemed to include an amount determined by such Lender to be equal to the
excess, if any, of (i) the amount of 

  
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interest that such Lender would pay for a deposit equal to the principal amount of such Loan for the period from the date of such payment, conversion, failure or assignment to the last day of the
then current Interest Period for such Loan (or, in the case of a failure to borrow, convert or continue, the duration of the Interest Period that would have resulted from such borrowing, conversion or continuation) if the interest rate payable on
such deposit were equal to the Adjusted LIBO Rate for such Interest Period, over (ii) the amount of interest that such Lender would earn on such principal amount for such period if such Lender were to invest such principal amount for
such period at the interest rate that would be bid by such Lender (or an affiliate of such Lender) for deposits from other banks in the eurocurrency market at the commencement of such period. 

Payment under this Section 2.16 shall be made upon request of a Lender delivered not later than five Business Days following
the payment, conversion, or failure to borrow, convert, continue or prepay that gives rise to a claim under this Section 2.16 accompanied by a certificate of such Lender setting forth the amount or amounts that such Lender is entitled to
receive pursuant to this Section 2.16, which certificate shall be conclusive absent manifest error. The respective Borrower shall pay such Lender the amount shown as due on any such certificate within 10 days after receipt thereof.

 SECTION 2.17. Insufficient Funds; Ratable Treatment; Sharing of Payments. 

(a) Application of Insufficient Payments. If at any time insufficient funds are received by and available to the Administrative
Agent to pay fully all amounts of principal, interest and fees in respect of Loans, Letters of Credit or unreimbursed LC Disbursements then due hereunder, such funds shall be applied (i) first, to pay interest and fees then due
hereunder, ratably among the parties entitled thereto in accordance with the amounts of interest and fees then due to such parties, and (ii) second, to pay principal and unreimbursed LC Disbursements then due hereunder, ratably
among the parties entitled thereto in accordance with the amounts of principal and unreimbursed LC Disbursements then due to such parties. 
 (b) Ratable Treatment. Except to the extent otherwise provided herein: (i) each Syndicated Borrowing of a Class shall be made from the Lenders of such Class, each payment of commitment fees
under Section 2.12 shall be made for account of the Lenders of the applicable Class, and each termination or reduction of the amount of the Commitments of a Class under Section 2.08 shall be applied to the respective
Commitments of the Lenders of such Class, pro rata according to the amounts of their respective Commitments of such Class; (ii) each Syndicated Borrowing of a Class shall be allocated pro rata among the Lenders of such Class according to the
amounts of their respective Commitments of such Class (in the case of the making of Syndicated Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans);
(iii) each payment or prepayment of principal of Syndicated Loans of a Class by a Borrower shall be made for account of the Lenders of such Class pro rata in accordance with the respective unpaid principal amounts of the Syndicated Loans of
such Class held by them; and (iv) each payment of interest on Syndicated Loans of a Class by a Borrower shall be made for account of the Lenders of such Class pro rata in accordance with the amounts of interest on such Loans of such Class then
due and payable to the respective Lenders. 

  
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 (c) Sharing of Payments by Lenders. If any Lender of any Class shall, by exercising
any right of set-off or counterclaim or otherwise, obtain payment in respect of any principal of or interest on any of its Syndicated Loans, or participations in LC Disbursements, of such Class resulting in such Lender receiving payment of a
greater proportion of the aggregate amount of its Syndicated Loans, and participations in LC Disbursements, and accrued interest thereon of such Class then due than the proportion received by any other Lender of such Class, then the Lender
receiving such greater proportion shall purchase (for cash at face value) participations in the Syndicated Loans, and participations in LC Disbursements of other Lenders of such Class to the extent necessary so that the benefit of all such
payments shall be shared by the Lenders of such Class ratably in accordance with the aggregate amount of principal of and accrued interest on their respective Syndicated Loans, and participations in LC Disbursements, of such Class;
provided that (i) if any such participations are purchased and all or any portion of the payment giving rise thereto is recovered, such participations shall be rescinded and the purchase price restored to the extent of such recovery,
without interest, and (ii) the provisions of this paragraph shall not be construed to apply to any payment made by a Borrower pursuant to and in accordance with the express terms of this Agreement (including the application of funds arising
from the existence of a Defaulting Lender) or any payment obtained by a Lender as consideration for the assignment of or sale of a participation in any of its Loans or participations in LC Disbursements to any assignee or participant, other
than to a Borrower or any Subsidiary or Affiliate thereof (as to which the provisions of this paragraph shall apply). Each Obligor consents to the foregoing and agrees, to the extent it may effectively do so under applicable law, that any Lender
acquiring a participation pursuant to the foregoing arrangements may exercise against such Obligor rights of set-off and counterclaim with respect to such participation as fully as if such Lender were a direct creditor of such Obligor in the amount
of such participation. 
 (d) Presumptions of Payment. Unless the Administrative Agent shall have received notice from a
Borrower prior to the date on which any payment or prepayment is due to the Administrative Agent for account of any Lender hereunder that such Borrower will not make such payment or prepayment, the Administrative Agent may assume that such Borrower
has made such payment or prepayment, as the case may be, on such date in accordance herewith and may, in reliance upon such assumption and in its sole discretion, distribute to such Lender the amount due. In such event, if such Borrower has not in
fact made such payment or prepayment, then such Lender shall repay to the Administrative Agent forthwith on demand the amount so distributed to such Lender with interest thereon, for each day from and including the date such amount is distributed to
it to but excluding the date of payment to the Administrative Agent, at the Federal Funds Effective Rate. 
 (e) Certain
Deductions by the Administrative Agent. If any Lender shall fail to make any payment required to be made by it pursuant to Section 2.04(c), 2.05(e), 2.06(b), 2.17(d) or 11.03(c), then the Administrative
Agent may, in its discretion (notwithstanding any contrary provision hereof), apply any amounts thereafter received by the Administrative Agent for account of such Lender to satisfy such Lender’s obligations under such Sections until all such
unsatisfied obligations are fully paid. 
 SECTION 2.18. Replacement of Lenders. If any Lender requests compensation
under Section 2.15, or if any Borrower is required to pay any additional amount to any Lender or any Governmental Authority for account of any Lender pursuant to Section 11.04, or if any

  
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Lender becomes a Defaulting Lender, or if any Lender does not consent to a proposed amendment, modification or waiver of this Agreement or any other Loan Document requested by the Borrowers which
has been approved by the Required Lenders but which requires the consent of such Lender (or such Lender and other Lenders) to become effective, or if any Lender does not extend its Commitment Termination Date pursuant to a request by the Company
that has become effective in accordance with Section 2.09, then the Company may, at its sole expense (and without any obligation on the Administrative Agent or any Lender to co-operate or assist in any way in locating an assignee), upon notice
to such Lender and the Administrative Agent, require such Lender to assign and delegate, without recourse (in accordance with and subject to the restrictions contained in Section 11.08), all its interests, rights and obligations under
this Agreement to an assignee that shall assume such obligations (which assignee may be another Lender, if a Lender accepts such assignment); provided that 

(i) the Company shall have received the prior consent of the Administrative Agent (and, if a Revolving Credit Commitment
is being assigned, the Issuing Lenders and the Swingline Lender), which consents shall not unreasonably be withheld, 
 (ii) such Lender shall have received payment of an amount equal to the outstanding principal of its Loans (and funded participations in LC Disbursements and Swingline Loans), as applicable, accrued
interest thereon, accrued fees and all other amounts payable to it hereunder, from the assignee (to the extent of such outstanding principal and accrued interest and fees) or the Company (in the case of all other amounts), 

(iii) such assignment does not conflict with applicable law, 

(iv) in the case of any such assignment resulting from Lender not consenting to a proposed amendment, modification or
waiver of this Agreement or any other Loan Document requested by the Borrowers which has been approved by the Required Lenders but which requires the consent of such Lender (or such Lender and other Lenders) to become effective, the applicable
assignee shall have consented to the applicable amendment, waiver or consent, and 
 (v) in the case of any such
assignment resulting from a claim for compensation under Section 2.15 or payments required to be made pursuant to Section 11.04, such assignment will result in a reduction in such compensation or payments; provided,
however, the assignor hereunder shall not be liable to the Administrative Agent for any assignment fee provided in Section 11.08(b)(ii)(C). 
 In connection with any such replacement, if the replaced Lender does not execute and deliver to the Administrative Agent a duly completed Assignment and Assumption reflecting such replacement within five
Business Days of the date on which the replacement Lender executes and delivers such Assignment and Assumption to the replaced Lender, then such replaced Lender shall be deemed to have executed and delivered such Assignment and Assumption. A Lender
shall not be required to make any such assignment and delegation if, prior thereto, as a result of a waiver by such Lender or otherwise, the circumstances entitling the Company to require such assignment and delegation cease to apply. 

  
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 SECTION 2.19. Defeasance of Letters of Credit. The Borrowers may, upon not less than
three Business Days’ prior notice to the Administrative Agent stating that it is exercising its rights under this Section 2.19 (which shall promptly notify all of the Lenders), take the following actions (each of which shall be
effected concurrently): 
 (a) terminate all of the Commitments in accordance with Section 2.08(b),

 (b) pay or prepay in accordance with Section 2.11(a) the principal of and interest on all Loans
and pay all LC Disbursements, fees and other amounts outstanding hereunder and under the other Loan Documents, and 
 (c) provide to each Issuing Lender either or both (or a combination of both) of (i) cash collateral for the Borrowers’ reimbursement obligations for each Letter of Credit issued by such Issuing
Lender then outstanding in amount equal to 101% of (and in the same currency as) the undrawn amount of such Letter of Credit, under arrangements satisfactory to such Issuing Lender or (ii) a letter of credit issued to such Issuing Lender
covering the Borrowers’ reimbursement obligations for each Letter of Credit issued by such Issuing Lender then outstanding in amount equal to the sum of 101% of (and in the same currency as) the undrawn amount of such Letter of Credit together
with an additional letter of credit issued to such Issuing Lender in an amount equal to the letter of credit fees under Section 2.12(b) that will accrue (at the highest Applicable Margin) for the period from the date of the issuance of
such letter of credit to the date of scheduled expiration of such Letter of Credit (taking into account extensions), the form and issuer of each such letter of credit to be satisfactory to such Issuing Lender. 

Upon each of such actions being taken, (x) the obligations of the Revolving Credit Lenders under Section 2.05(e) shall terminate and
(y) the obligations of the Borrowers under Section 2.12(a) and 2.12(b)(i) shall terminate. 
 ARTICLE III

 DEFAULTING LENDERS 
 Notwithstanding any provision of this Agreement to the contrary, if any Lender becomes a Defaulting Lender, then the following provisions shall apply on the date such Lender becomes a Defaulting Lender
and for so long as such Lender is a Defaulting Lender: 
 (a) Commitment Fees pursuant to
Section 2.12(a) shall cease to accrue on the unfunded portion of the Commitment of such Defaulting Lender; 
 (b) the Commitment, Revolving Credit Exposure and Incremental Loan Exposure of such Defaulting Lender shall not be included in any calculation of “Required Lenders,” “Required Revolving
Credit Lenders” or “Required Incremental Lenders” for purposes of determining whether the Required Lenders, the Required Revolving Credit Lenders or the Required Incremental Lenders have taken or may take any action hereunder
(including any consent to any amendment, waiver or other modification pursuant to Section 11.02); provided, that this clause (b) shall not apply to the vote of a Defaulting Lender in the case of an amendment, waiver or other
modification requiring the consent of such Lender or each Lender affected or directly affected thereby; 

  
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 (c) if such Lender is a Revolving Credit Lender and any Swingline Exposure
or LC Exposure exists at the time such Lender becomes a Defaulting Lender then: 
 (i) all or any part of the
Swingline Exposure and LC Exposure of such Defaulting Lender shall be reallocated among the Revolving Credit Lenders that are not Defaulting Lenders in accordance with their respective Applicable Percentages but only to the extent the sum of all
such non-Defaulting Lenders’ Revolving Credit Exposures plus such Defaulting Lender’s Swingline Exposure and LC Exposure does not exceed the total of all such non-Defaulting Lenders’ Revolving Credit Commitments; 

(ii) if the reallocation described in clause (i) above cannot, or can only partially, be effected, the Borrowers
shall within three Business Days following notice by the Administrative Agent (x) first, prepay such Swingline Exposure and (y) second, cash collateralize for the benefit of one or more of the Issuing Lenders only the Borrowers’
obligations corresponding to such Defaulting Lender’s LC Exposure (after giving effect to any partial reallocation pursuant to clause (i) above) in accordance with the procedures set forth in Section 2.05(k) for so long as such
LC Exposure of such Defaulting Lender is outstanding (or if shorter, for so long as such Defaulting Lender remains a Defaulting Lender); 
 (iii) if any Borrower cash collateralizes any portion of such Defaulting Lender’s LC Exposure pursuant to clause (ii) above, the Borrowers shall not be required to pay any fees to such
Defaulting Lender pursuant to Section 2.12(b); 
 (iv) if the LC Exposure of Defaulting Lenders is
reallocated pursuant to clause (i) above, then the fees payable to the non-Defaulting Lenders pursuant to Section 2.12(a) and (b) shall be adjusted in accordance with such non-Defaulting Lenders’ Applicable
Percentages; and 
 (v) if all or any portion of such Defaulting Lender’s LC Exposure is neither reallocated
nor cash collateralized pursuant to clause (i) or (ii) above, then, without prejudice to any rights or remedies of any Issuing Lender or any other Lender hereunder, all Letter of Credit fees payable under Section 2.12(b) with
respect to such Defaulting Lender’s LC Exposure shall be payable to the respective Issuing Lenders until and to the extent that such LC Exposure is reallocated and/or cash collateralized; 

(d) so long as such Lender is a Defaulting Lender, the Swingline Lender shall not be required to fund any Swingline Loan
and no Issuing Lender shall be required to issue, amend or increase any Letter of Credit, unless the Swingline Lender or such Issuing Lender, as applicable, is reasonably satisfied that the Defaulting Lender’s then outstanding Swingline
Exposure or LC Exposure, as applicable, will be 100% covered by the Revolving Credit Commitments of the Revolving Credit Lenders that are not 

  
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Defaulting Lenders and/or cash collateral will be provided by the Borrowers in accordance with paragraph (c) of this Article III, and participating interests in any newly made
Swingline Loan or any newly issued, amended or increased Letter of Credit shall be allocated among non-Defaulting Lenders in a manner consistent with paragraph (b) of this Article III (and such Defaulting Lender shall not
participate therein); and 
 (e) any payment of principal, interest, fees or other amounts received by the
Administrative Agent for the account of such Defaulting Lender (whether voluntary or mandatory, at maturity, pursuant to Article IX or otherwise) or received by the Administrative Agent from a Defaulting Lender pursuant to
Section 11.12 shall be applied at such time or times as may be determined by the Administrative Agent as follows: first, to the payment of any amounts owing by such Defaulting Lender to the Administrative Agent hereunder;
second, to the payment on a pro rata basis of any amounts owing by such Defaulting Lender to any Issuing Lender or Swingline Lender hereunder; third, to cash collateralize the Issuing Lenders’ LC Exposure with respect to such
Defaulting Lender; fourth, as the Company may request (so long as no Default or Event of Default exists), to the funding of any Loan in respect of which such Defaulting Lender has failed to fund its portion thereof as required by this
Agreement, as determined by the Administrative Agent; fifth, if so determined by the Administrative Agent and the Company, to be held in a deposit account and released pro rata in order to (i) satisfy such Defaulting Lender’s
potential future funding obligations with respect to Loans under this Agreement and (ii) cash collateralize the Issuing Lenders’ future LC Exposure with respect to such Defaulting Lender with respect to future Letters of Credit issued
under this Agreement; sixth, to the payment of any amounts owing to the Lenders, the Issuing Lenders or Swingline Lenders as a result of any judgment of a court of competent jurisdiction obtained by any Lender, the Issuing Lenders or
Swingline Lenders against such Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations under this Agreement; seventh, so long as no Default or Event of Default exists, to the payment of any amounts owing to
any Borrower as a result of any judgment of a court of competent jurisdiction obtained by any Borrower against such Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations under this Agreement; and eighth, to
such Defaulting Lender or as otherwise directed by a court of competent jurisdiction; provided that if (i) such payment is a payment of the principal amount of any Loans or LC Disbursements in respect of which such Defaulting Lender has
not fully funded its appropriate share, and (ii) such Loans were made or the related Letters of Credit were issued at a time when the conditions set forth in Section 6.02 were satisfied or waived, such payment shall be applied
solely to pay the Loans of, and LC Disbursements owed to, all non-Defaulting Lenders on a pro rata basis prior to being applied to the payment of any Loans of, or LC Disbursements owed to, such Defaulting Lender until such time as all Loans and
funded and unfunded participations in LC Exposures and Swingline Loans are held by the Lenders pro rata in accordance with the Commitments under the applicable Loan without giving effect to paragraph (c) above. Any payments, prepayments or
other amounts paid or payable to a Defaulting Lender that are applied (or held) to pay amounts owed by a Defaulting Lender or to post cash collateral pursuant to this paragraph (d) shall be deemed paid to and redirected by such Defaulting
Lender, and each Lender irrevocably consents hereto. 

  
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 In the event that the Administrative Agent and the Company (and, in the case of a Defaulting
Lender that is a Revolving Credit Lender, the Swingline Lender and the Issuing Lenders) each reasonably agrees that a Defaulting Lender has adequately remedied all matters that caused such Lender to be a Defaulting Lender (or if such Defaulting
Lender has been replaced pursuant to Section 2.18), then (i), as applicable, the Swingline Exposure and LC Exposure of the Lenders shall be readjusted to reflect the inclusion of such Defaulting Lender’s (or replacement
Lender’s) applicable Commitment and on such date such Defaulting Lender (or replacement Lender) shall purchase at par such of the Loans of the other Lenders (other than Swingline Loans) as the Administrative Agent shall determine may be
necessary in order for such Defaulting Lender (or replacement Lender) to hold such Loans of the applicable Class in accordance with its Applicable Percentage for such Class and (ii) all cash collateral provided under paragraph (c) of this
Article III with respect to such Defaulting Lender shall be immediately released to the Borrowers. 
 ARTICLE IV

 GUARANTEE BY GUARANTORS 
 SECTION 4.01. The Guarantee. Each Guarantor hereby jointly and severally guarantees to each Credit Party, each Eligible Hedging Counterparty and each Eligible Cash Manager, and their respective
successors and assigns, the prompt payment in full when due (whether at stated maturity, by acceleration, by prepayment or otherwise) of the Guaranteed Obligations of such Guarantor. Each Guarantor hereby further agrees that if any other Obligor
shall fail to pay in full when due (whether at stated maturity, by acceleration, by prepayment or otherwise) any of such Guarantor’s Guaranteed Obligations, such Guarantor will promptly pay the same, without any demand or notice whatsoever, and
that in the case of any extension of time of payment or renewal of any of such Guaranteed Obligations, the same will be promptly paid in full when due (whether at extended maturity, by acceleration or otherwise) in accordance with the terms of such
extension or renewal. 
 For purposes hereof, it is understood that any Guaranteed Obligations to a Person arising under a
Hedging Agreement or constituting Cash Management Obligations entered into at the time such Person (or an Affiliate thereof) is a Lender shall nevertheless continue to constitute Guaranteed Obligations for purposes hereof, notwithstanding that such
Person (or its Affiliate) may have assigned all of its Loans and other interests hereunder and, therefore, at the time a claim is to be made in respect of such Guaranteed Obligations, such Person (or its Affiliate) is no longer a Lender party
hereto; provided that such Person shall not be entitled to the benefits of this Section 4.01 unless, at the time it ceased to be a Lender, it shall have notified the Administrative Agent of the existence of such Hedging Agreement
or Cash Management Obligations, as the case may be. 
 SECTION 4.02. Obligations Unconditional. The obligations of each
Guarantor under Section 4.01 are absolute, unconditional and irrevocable irrespective of the value, genuineness, validity, regularity or enforceability of this Agreement, the other Loan Documents or any other agreement or instrument
referred to herein or therein, or any substitution, release or exchange of any other guarantee of any of the Guaranteed Obligations or any cash collateral required to be provided pursuant to Section 2.05(k) or the last paragraph of
Article IX, and, to 

  
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the fullest extent permitted by applicable law, irrespective of any other circumstance whatsoever that might otherwise constitute a legal or equitable discharge or defense of a surety or
guarantor, it being the intent of this Section 4.02 that the obligations of the Guarantors hereunder shall be absolute, unconditional and irrevocable under any and all circumstances. Without limiting the generality of the foregoing,
it is agreed that the occurrence of any one or more of the following shall not alter or impair the liability of the Guarantors hereunder which shall remain absolute, unconditional and irrevocable as described above: 

(i) at any time or from time to time, without notice to such Guarantors, the time for any performance of or compliance
with any of its Guaranteed Obligations shall be extended, or such performance or compliance shall be waived; 

(ii) any of the acts mentioned in any of the provisions hereof or of the other Loan Documents or any other agreement or
instrument referred to herein or therein shall be done or omitted; 
 (iii) the maturity of any of the Guaranteed
Obligations shall be accelerated, or any of the Guaranteed Obligations shall be modified, supplemented or amended in any respect, or any right hereunder or under the other Loan Documents or any other agreement or instrument referred to herein or
therein shall be waived or any other guarantee of any of the Guaranteed Obligations or any security therefor shall be released or exchanged in whole or in part or otherwise dealt with; 

(iv) any law or regulation of any jurisdiction or any other event affecting any term of a Guaranteed Obligation; or

 (v) any cash collateral required to be provided pursuant to Section 2.05(k) or the last paragraph
of Article IX shall fail to be perfected. 
 The Guarantors hereby expressly waive diligence, presentment, demand of payment,
protest and all notices whatsoever, and any requirement that the Administrative Agent, any Issuing Lender or any Lender (or Affiliate thereof) exhaust any right, power or remedy or proceed against the respective Borrower hereunder or under the other
Loan Documents or any other agreement or instrument referred to herein or therein, or against any other Person under any other guarantee of any of the Guaranteed Obligations or any cash collateral required to be provided pursuant to
Section 2.05(k) or the last paragraph of Article IX. 
 It is acknowledged and agreed that references in this
Section 4.02 to the obligations of the Guarantors under this Article IV being irrevocable are subject to any and all provisions of the Loan Documents that expressly provide for the release or termination of such obligations. 

SECTION 4.03. Reinstatement. The obligations of each Guarantor under this Article IV shall be automatically reinstated
if and to the extent that for any reason any payment by or on behalf of a Borrower in respect of its Guaranteed Obligations is rescinded or must be otherwise restored by any holder of any of the Guaranteed Obligations, whether as a result of any
proceedings in bankruptcy or reorganization or otherwise, and each of the Guarantors agrees that it will indemnify the Administrative Agent, each Issuing Lender and each Lender (and each 

  
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Affiliate thereof party to any Hedging Agreement) on demand for all reasonable costs and expenses (including fees of counsel) incurred by the Administrative Agent, any Lender (or Affiliate) or
any Issuing Lender in connection with such rescission or restoration, including any such costs and expenses incurred in defending against any claim alleging that such payment constituted a preference, fraudulent transfer or similar payment under any
bankruptcy, insolvency or similar law. 
 SECTION 4.04. Subrogation. Until the payment of all Guaranteed Obligations, and
the termination of all Commitments, each Guarantor hereby waives all rights of subrogation or contribution, whether arising by contract or operation of law (including any such right arising under the Federal Bankruptcy Code of 1978, as amended) or
otherwise by reason of any payment by it pursuant to the provisions of this Article IV and further agrees with each Borrower for the benefit of each of its creditors (including each Issuing Lender, each Lender, each Affiliate thereof and
the Administrative Agent) that any such payment by it shall constitute a contribution of capital by such Guarantor to such Borrower. 
 SECTION 4.05. Remedies. Each Guarantor agrees that, as between such Guarantor and the Lenders, the obligations of the respective Borrower hereunder may be declared to be forthwith due and payable
as provided in Article IX or Section 2.05(i), as applicable (and shall be deemed to have become automatically due and payable in the circumstances provided in Article IX or Section 2.05(k), as applicable)
for purposes of Section 4.01 notwithstanding any stay, injunction or other prohibition preventing such declaration (or such obligations from becoming automatically due and payable) as against such Borrower and that, in the event of such
declaration (or such obligations being deemed to have become automatically due and payable), such obligations (whether or not due and payable by such Borrower) shall forthwith become due and payable by such Guarantor for purposes of
Section 4.01. 
 SECTION 4.06. Instrument for the Payment of Money. Each Guarantor hereby acknowledges that
the guarantee in this Article IV constitutes an instrument for the payment of money, and consents and agrees that any Issuing Lender, any Lender (and any Affiliate thereof party to any Hedging Agreement) or the Administrative Agent, at
its sole option, in the event of a dispute by the Guarantors in the payment of any moneys due hereunder, shall have the right to bring motion-action under New York CPLR Section 3213. 

SECTION 4.07. Continuing Guarantee. The guarantee in this Article IV is a continuing guarantee, and shall apply to all
Guaranteed Obligations whenever arising. 
 SECTION 4.08. Rights of Contribution. The Guarantors (which, for purposes of
this Section 4.08 only shall be deemed to exclude the Parent, FWL and Holdco) hereby agree, as between themselves, that if any Guarantor shall become an Excess Funding Guarantor (as defined below) by reason of the payment by such
Guarantor of any Guaranteed Obligations, each other Guarantor shall, on demand of such Excess Funding Guarantor (but subject to the next sentence), pay to such Excess Funding Guarantor an amount equal to such Guarantor’s Pro Rata Share (as
defined below and determined, for this purpose, without reference to the properties, debts and liabilities of such Excess Funding Guarantor) of the Excess Payment (as defined below) in respect of such Guaranteed Obligations. The payment obligation
of a Guarantor to any 

  
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Excess Funding Guarantor under this Section 4.08 shall be subordinate and subject in right of payment to the prior payment in full of the obligations of such Guarantor under the other
provisions of this Article IV and such Excess Funding Guarantor shall not exercise any right or remedy with respect to such excess until payment and satisfaction in full of all of such obligations. 

For purposes of this Section 4.08, (i) “Excess Funding Guarantor” means, in respect of any Guaranteed
Obligations, a Guarantor that has paid an amount in excess of its Pro Rata Share of such Guaranteed Obligations, (ii) “Excess Payment” means, in respect of any Guaranteed Obligations, the amount paid by an Excess Funding
Guarantor in excess of its Pro Rata Share of such Guaranteed Obligations and (iii) “Pro Rata Share” means, for any Guarantor, the ratio (expressed as a percentage) of (x) the amount by which the aggregate present fair
saleable value of all properties of such Guarantor (excluding any Equity Interests in any other Guarantor) exceeds the amount of all the debts and liabilities of such Guarantor (including contingent, subordinated, unmatured and unliquidated
liabilities, but excluding the obligations of such Guarantor hereunder and any obligations of any other Guarantor that have been Guaranteed by such Guarantor) to (y) the amount by which the aggregate fair saleable value of all properties of all
of the Guarantors exceeds the amount of all the debts and liabilities (including contingent, subordinated, unmatured and unliquidated liabilities, but excluding the obligations of the Guarantors hereunder and under the other Loan Documents) of all
of the Guarantors, determined (A) with respect to any Guarantor that is a party hereto on the Effective Date, as of the Effective Date and (B) with respect to any other Guarantor, as of the date such Guarantor becomes a Guarantor
hereunder. 
 SECTION 4.09. Limitation on Guarantee Obligations. 

(a) General Limitation. In any action or proceeding involving any state corporate law, or any state or Federal bankruptcy,
insolvency, reorganization or other law affecting the rights of creditors generally, if the obligations of any Subsidiary Guarantor or Borrower under Section 4.01, or with respect to any Subsidiary Guarantor organized and existing under
the laws of Switzerland, any other joint and several payment obligations of such Subsidiary required hereunder such as those set forth under Section 11.03(b), would otherwise, taking into account the provisions of
Section 4.08, be held or determined to be void, invalid or unenforceable, or subordinated to the claims of any other creditors, on account of the amount of its liability under Section 4.01, then, notwithstanding any other
provision hereof to the contrary, the amount of such liability shall, without any further action by such Subsidiary Guarantor or Borrower, any Lender, the Administrative Agent or any other Person, be automatically limited and reduced to the highest
amount that is valid and enforceable and not subordinated to the claims of other creditors as determined in such action or proceeding. 
 (b) Limitation Applicable to Luxembourg Guarantors. Anything in this Agreement or the other Loan Documents to the contrary notwithstanding and subject to Section 7.10(c), the maximum
liability under Section 4.01 of any Subsidiary Guarantor organized under the laws of the Grand Duchy of Luxembourg (each a “Luxembourg Guarantor”) shall be limited at any time to an amount not exceeding the maximum
financial capacity at such time of such Luxembourg Guarantor, such maximum financial capacity being equal to 85% of the Net Assets of the Luxembourg Guarantor, where “Net Assets” shall be deemed to be equal to such

  
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Luxembourg Guarantor’s shareholder’s equity (including share capital, share premium, legal and statutory reserves, other reserves, profits or losses carried forward, investment
subsidies and regulated provisions) (Capitaux Propres) as calculated on the basis of such Luxembourg Guarantor’s most recent financial statements (Comptes Annuels), approved by such Luxembourg Guarantor’s managers or
shareholders’ meeting in accordance with Luxembourg company law, certified by the statutory auditors and available at the date of the relevant payment obligation hereunder. 

ARTICLE V 

REPRESENTATIONS AND WARRANTIES 
 Each Obligor represents and warrants to the Lenders and the Administrative Agent, as to itself and each of its Subsidiaries (or, as applicable, each of its Restricted Subsidiaries), that: 

SECTION 5.01. Organization; Powers. Each Obligor and each of its Restricted Subsidiaries is duly organized, incorporated or
formed, validly existing and in good standing (or its equivalent, if applicable) under the laws of the jurisdiction of its organization, except in each case (other than in the case of the existence of each Obligor and each of its Significant
Subsidiaries) where the failure to do so (individually or in the aggregate) would not reasonably be expected to have a Material Adverse Effect. Each Obligor and each of its Restricted Subsidiaries has all requisite power and authority under its
organizational or constitutional documents to carry on its business as now conducted and, except where the failure to do so, individually or in the aggregate, would not reasonably be expected to result in a Material Adverse Effect, is qualified to
do business in, and is in good standing (or its equivalent, if applicable) in, every jurisdiction where such qualification is required. 
 SECTION 5.02. Authorization; Enforceability. The Transactions are within the corporate or other power of each Obligor and have been duly authorized by all necessary corporate or other action
(including, if required, equityholder action) on the part of such Obligor. This Agreement has been duly executed and delivered by each Obligor and constitutes a legal, valid and binding obligation of such Obligor, enforceable in accordance with its
terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’ rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at
law. 
 SECTION 5.03. Governmental Approvals; No Conflicts. The Transactions (a) do not require any consent or
approval of, registration or filing with, or any other action by, any Governmental Authority or any other Person, (b) will not violate any applicable law, policy or regulation or the charter, by-laws or other organizational or constitutional
documents of any Obligor or any order of any Governmental Authority, (c) will not violate or result in a default in any material respect under any indenture, agreement or other instrument binding upon any Obligor, or any of its assets, or give
rise to a right thereunder to require any payment to be made by any Obligor, and (d) will not result in the creation or imposition of any Lien on any material asset of the Obligors. 

  
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 SECTION 5.04. Financial Condition; No Material Adverse Change. The Company has
heretofore delivered to the Lenders the following financial statements: 
 (i) the audited consolidated balance
sheet, statements of operations, changes in equity and cash flows of the Parent and its consolidated Subsidiaries as of and for the fiscal year ended December 31, 2011, reported on by PricewaterhouseCoopers LLP, independent public accountants;
and 
 (ii) the Interim Financial Statements. 

Such financial statements present fairly, in all material respects, the respective consolidated financial condition of the respective
entities as at said respective dates and the consolidated results of their operations for the fiscal periods ended on said respective dates, all in accordance with generally accepted accounting principles and practices applied on a consistent basis,
subject, in the case of unaudited financial statements, to the absence of footnotes and year- end audit adjustments. None of said entities had on the date of said annual financial statements any material contingent liabilities, liabilities for
taxes, unusual forward or long-term commitments or unrealized or anticipated losses from any unfavorable commitments that are required by GAAP to be disclosed in such financial statements or the footnotes thereto that are not disclosed therein.
Since December 31, 2011, there has been no material adverse change (or any event, development or circumstance that, individually or in the aggregate, would reasonably be expected to result in a material adverse change) in the business, assets,
operations or condition, financial or otherwise, of the Parent and its Subsidiaries taken as a whole. 
 SECTION 5.05.
Properties. 
 (a) Properties Generally. Each Obligor and each of its Restricted Subsidiaries has good title to,
or valid leasehold interests in, all its real and personal property material to its business, except for (i) defects in title that do not interfere in any material respect with its ability to conduct its business as currently conducted or to
utilize such properties for their intended purposes and (ii) Liens permitted under Section 8.02. 
 (b)
Intellectual Property. Each Obligor and each of its Restricted Subsidiaries owns, or is licensed to use, all trademarks, tradenames, copyrights, patents and other intellectual property material to its business, and the use thereof by such
Obligor and its Restricted Subsidiaries does not infringe upon the rights of any other Person, except for any such infringements that, individually or in the aggregate, would not reasonably be expected to result in a Material Adverse Effect.

 SECTION 5.06. Litigation and Environmental Matters. 

(a) Litigation. There are no actions, suits or proceedings by or before any arbitrator or Governmental Authority pending against
or, to the knowledge of any of the Obligors, threatened against or affecting the Obligors or any of their Restricted Subsidiaries that would reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect (other than
the Disclosed Matters). 

  
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 (b) Environmental Matters. Except for the Disclosed Matters and except with respect
to any other matters that, individually or in the aggregate, would not reasonably be expected to result in a Material Adverse Effect, no (i) Group Member has failed to comply with any Environmental Law or to obtain, maintain or comply with any
permit, license or other approval required under any Environmental Law, (ii) Group Member has become subject to any Environmental Liability or (iii) Group Member has received notice of any claim with respect to any Environmental Liability
or any inquiry, allegation, notice or other communication from any Governmental Authority concerning its compliance with any Environmental Law. 
 (c) No Default. No Default has occurred and is continuing. 
 SECTION 5.07.
Compliance with Laws and Agreements. Each Obligor and each of its Restricted Subsidiaries is in compliance with all laws (other than, subject to Section 5.06, Environmental Matters), regulations, policies and orders of any
Governmental Authority applicable to it or its property and all indentures, agreements and other instruments binding upon it or its property, except where the failure to do so, individually or in the aggregate, would not reasonably be expected to
result in a Material Adverse Effect. 
 SECTION 5.08. Investment Company Status. No Obligor nor any of their respective
subsidiaries is an “investment company” as defined in, or subject to regulation under, the Investment Company Act of 1940, as amended. 
 SECTION 5.09. Taxes. Each of the Obligors and their respective Subsidiaries has timely filed or caused to be filed all material Tax returns and reports required to have been filed and has paid or
caused to be paid all material Taxes required to have been paid by it, except (a) Taxes that are being contested in good faith by appropriate proceedings and for which such Obligor or Subsidiary has set aside on its books adequate reserves with
respect thereto in accordance with GAAP or (b) to the extent that the failure to do so would not reasonably be expected to result in a Material Adverse Effect. 
 SECTION 5.10. ERISA. No ERISA Event has occurred or is reasonably expected to occur that, when taken together with all other such ERISA Events for which liability is reasonably expected to occur,
would reasonably be expected to result in a Material Adverse Effect. There has been no failure to make any required contribution to any Plan that has resulted in a Lien arising under Section 303 of ERISA or Section 430 of the Code.

 SECTION 5.11. Disclosure. The information, reports, financial statements, exhibits and schedules furnished in writing
by or on behalf of the Obligors to the Administrative Agent or any Lender in connection with the negotiation, preparation or delivery of this Agreement and the other Loan Documents (including the information other than projections or forward-looking
statements set forth in the Confidential Information Memorandum) or delivered pursuant hereto or thereto, when taken as a whole, do not contain any untrue statement of material fact or omit to state any material fact necessary to make the statements
herein or therein, in light of the circumstances under which they were made, not misleading. All written information (other than projections or forward-looking statements) furnished after the date hereof by each Obligor and its Subsidiaries to the
Administrative Agent and the Lenders in connection with this Agreement and the other Loan Documents and the transactions contemplated hereby and thereby will be true and accurate in every material respect, on the date as of which such information is
stated or certified. 

  
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 SECTION 5.12. Labor Matters. No Obligor nor any of its Restricted Subsidiaries is
engaged in any unfair labor practice that has had or would (individually or together with other similar unfair labor practices) reasonably be expected to have a Material Adverse Effect. There is (i) no unfair labor practice complaint, or
comparable proceeding under applicable legislation in any other jurisdiction, pending or (to the knowledge of any Obligor) threatened against any Obligor or any of its Restricted Subsidiaries before the National Labor Relations Board, or comparable
governmental board in any other jurisdiction, and no grievance or arbitration proceeding arising out of or under any collective bargaining agreement is so pending or (to the knowledge of any Obligor) threatened against any Obligor or any of its
Restricted Subsidiaries, (ii) no strike, labor dispute, slowdown or stoppage pending or (to the knowledge of any Obligor) threatened against any Obligor or any of its Restricted Subsidiaries and (iii) no union representation question
existing with respect to the employees of any Obligor or any of its Restricted Subsidiaries and no union organizing activities are taking place, except with respect to any matter specified in clause (i), (ii) or (iii) above, either
individually or in the aggregate, such as has not had and would not reasonably be expected to have a Material Adverse Effect. 

SECTION 5.13. Subsidiaries, Etc. 
 (a) Subsidiaries. Set forth in Schedule 5.13 is a complete and correct list of all of the Subsidiaries of the Obligors as of the date hereof together with, for each such Subsidiary as
of the date hereof, (i) the jurisdiction of organization, incorporation or formation of such Subsidiary, (ii) identifying whether or not such Subsidiary is a Restricted Subsidiary and (iii) the percentage of ownership of such
Subsidiary held directly or (through other Subsidiaries) indirectly by the Parent. 
 (b) Project Entities. The Persons
identified on Schedule 5.13 as Project Entities, and their respective Subsidiaries, were formed or acquired for the primary purpose of constructing, acquiring, owning, leasing and/or operating any sites, facilities, projects or any
agreements related thereto. 
 SECTION 5.14. Margin Stock. No Group Member is engaged principally, or as one of its
important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying Margin Stock, and no part of the proceeds of any extension of credit hereunder will be used to buy or carry
any Margin Stock. 
 SECTION 5.15. Commercial Activity; Absence of Immunity. Each Obligor organized outside of the United
States of America is subject to civil and commercial law with respect to its respective Obligations under this Agreement and the other Loan Documents. The execution, delivery and performance by each such Obligor of this Agreement and the other Loan
Documents constitute private and commercial acts rather than public or governmental acts. 
 SECTION 5.16. OFAC. No Group
Member (i) is a person whose property or interest in property is blocked or subject to blocking pursuant to Section 1 of Executive Order 13224 of September 23, 2001 Blocking Property and Prohibiting Transactions With Persons

  
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Who Commit, Threaten to Commit, or Support Terrorism (66 Fed. Reg. 49079 (2001)) or (ii) is a person on the list of Specially Designated Nationals and Blocked Persons (the “OFAC
List”) or subject to the limitations or prohibitions under any other U.S. Department of Treasury’s Office of Foreign Assets Control (“OFAC”) regulation or executive order. 

ARTICLE VI 

CONDITIONS 
 SECTION 6.01. Effectiveness. The obligations of the Lenders to make their initial extensions of credit hereunder shall not be effective until the date (the “Effective Date”) that
the following conditions precedent are satisfied (or waived in accordance with Section 11.02): 
 (a)
Counterparts of Agreement. The Administrative Agent (or Special Counsel) shall have received counterparts of this Agreement signed by the Obligors, the Lenders and the Administrative Agent or written evidence satisfactory to the
Administrative Agent (which may include telecopy transmission or other electronic transmission of a signed signature page) that the Obligors, the Lenders and the Administrative Agent have signed counterparts of this Agreement. 

(b) Opinion of Counsel to Obligors. The Administrative Agent (or Special Counsel) shall have received a favorable
written opinion (addressed to the Administrative Agent and the Lenders and dated the Effective Date) of (i) Latham & Watkins LLP, special New York counsel to the Obligors, substantially in the form of Exhibit B-1,
(ii) the Assistant General Counsel-Corporate of the Company, substantially in the form of Exhibit B-2 and (iii) local law counsel to the Parent and any Foreign Subsidiary that is an Obligor, in form and substance satisfactory
to the Administrative Agent (and each Obligor hereby requests such counsels to deliver such opinions). 
 (c)
Opinion of Special Counsel. The Administrative Agent shall have received a favorable written legal opinion (addressed to the Administrative Agent and the Lenders and dated the Effective Date) of Special Counsel, substantially in the form of
Exhibit C (and the Administrative Agent hereby requests Special Counsel to deliver such opinion). 

(d) Corporate and Similar Matters. The Administrative Agent (or Special Counsel) shall have received such documents
and certificates as the Administrative Agent or Special Counsel may reasonably request relating to the organization, incorporation or formation, existence and good standing (or its equivalent, if applicable, under the laws of any relevant
jurisdiction) of each Obligor, the authorization of the Transactions and any other legal matters relating to the Obligors, this Agreement, the other Loan Documents or the Transactions, all in form and substance reasonably satisfactory to the
Administrative Agent and Special Counsel. 
 (e) Officer’s Certificate. The Administrative Agent (or
Special Counsel) shall have received a certificate, dated the Effective Date and signed by the President or a Vice 

  
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President of the Parent, or a Financial Officer, to the effect that the representations and warranties set forth in Article V are true and correct on the Effective Date (or, if any
such representation or warranty is expressly stated to have been made as of a specific date, such representation or warranty shall be true and correct as of such specific date). 

(f) Notes. The Administrative Agent (or Special Counsel) shall have received for each Lender that shall have
requested a promissory note, a duly completed and executed promissory note for such Lender. 
 (g) Interim
Financial Statements. The Administrative Agent shall have received the Interim Financial Statements. 
 (h)
Process Agent Acceptance. The Administrative Agent shall have received evidence of the acceptance by the Person appointed by certain of the Obligors pursuant to Section 11.13(d) to act as agent for service of process. 

(i) Ratings. Both S&P and Moody’s shall have issued Ratings that are in effect on the Effective Date.

 (j) Approvals. All material governmental and third-party approvals required or, in the reasonable
discretion of the Administrative Agent, advisable in connection with the financing contemplated hereby shall have been obtained and be in full force and effect. 
 (k) Solvency Certificate. The Administrative Agent shall have received from a Financial Officer a certificate substantially in the form of Exhibit E hereto. 

(l) Patriot Act Compliance. The Administrative Agent shall have received all documentation and other information
required by regulatory authorities under applicable “know your customer” and anti-money laundering rules and regulations, including the USA PATRIOT Act referred to in Section 11.19. 

(m) No Change in Corporate Structure. There shall have been no change in the corporate, capital or ownership
structure and shareholders’ agreements of the Obligors since July 3, 2012, other than (i) such changes previously disclosed to the Administrative Agent by the Company, (ii) such changes reasonably satisfactory to the
Administrative Agent, and (iii) such changes, taken as a whole, that are not materially adverse to the Lenders. 
 (n) Repayment of Indebtedness under Existing Credit Agreement. The Borrowers shall have paid or repaid in full the principal of and interest on all of the “Loans” outstanding under (and
as defined in) the Existing Credit Agreement and all other amounts owing by the Obligors thereunder (other than in respect of any Existing Letters of Credit) and under the “Loan Documents” (as defined therein). 

(o) Fees and Expenses. The Administrative Agent shall have received all fees and other amounts due and payable on
or prior to the Effective Date, including fees payable for the account of each Lender and, to the extent invoiced, reimbursement or payment of all out-of-pocket expenses required to be reimbursed or paid by the Company hereunder. 

  
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 If requested by the Company, the Administrative Agent shall notify the Company and the
Lenders of the Effective Date, and such notice shall be conclusive and binding. Notwithstanding the foregoing, the Effective Date shall not occur unless such notification is given by the Administrative Agent at or prior to 5:00 p.m., New York City
time, on September 30, 2012. 
 SECTION 6.02. Each Extension of Credit. The obligation of each Lender to make a Loan
on the occasion of any Borrowing to be made at any time on or after the Effective Date, and of an Issuing Lender to issue, amend, renew or extend any Letter of Credit at any time on or after the Effective Date, is subject to the satisfaction of the
following conditions: 
 (a) Representations and Warranties. The representations and warranties of each
Obligor set forth in this Agreement and the other Loan Documents shall be true and correct in all material respects on and as of the date of such Borrowing, or (as applicable) the date of issuance, amendment, renewal or extension of such Letter of
Credit, both before and after giving effect thereto and to the use of the proceeds thereof (or, if any such representation or warranty is expressly stated to have been made as of a specific date, such representation or warranty shall be true and
correct as of such specific date). 
 (b) No Defaults. At the time of and immediately after giving effect
to such Borrowing, or (as applicable) the date of issuance, amendment, renewal or extension of such Letter of Credit, no Default shall have occurred and be continuing. 
 Each Borrowing Request, or request for issuance, amendment, renewal or extension of a Letter of Credit, shall be deemed to constitute a representation and warranty by the Company (both as of the date of
such Borrowing Request, or request for issuance, amendment, renewal or extension of a Letter of Credit, and as of the date of the related Borrowing or issuance, amendment, renewal or extension of a Letter of Credit) as to the matters specified in
paragraphs (a) and (b) of this Section 6.02. 
 ARTICLE VII 

AFFIRMATIVE COVENANTS 
 Until the Commitments have expired or been terminated and the principal of and interest on each Loan and all fees payable hereunder shall have been paid in full and all Letters of Credit shall have
expired or terminated or shall have been Defeased and all LC Disbursements outstanding at such time shall have been reimbursed, each Obligor covenants and agrees with the Lenders that: 

SECTION 7.01. Financial Statements and Other Information. The Parent will furnish to the Administrative Agent for delivery to the
Lenders: 
 (a) as soon as available, but in any event no later than the later of (x) 90 days after the end
of each fiscal year of the Parent and (y) the second Business Day after the date the financial statements for the Parent and its Subsidiaries referred to in clause (i) below are required to be filed with the Securities and Exchange
Commission: 
 (i) consolidated statements of operations and cash flows of the Parent and its Subsidiaries for
such fiscal year and the related consolidated balance sheets of the Parent and its Subsidiaries as at the end of such fiscal year, setting forth in each case in comparative form the corresponding consolidated figures for the preceding fiscal year,

  
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 (ii) an opinion of independent certified public accountants of recognized
national standing (without a “going concern” or like qualification or exception and without any qualification or exception as to the scope of such audit) to the effect that said consolidated financial statements referred to in the
preceding clause (i) fairly present in all material respects the consolidated financial condition and results of operations of the Parent and its Subsidiaries as at the end of, and for, such fiscal year in accordance with generally accepted
accounting principles, and 
 (iii) a statement of adjustments necessary to exclude the effect of that portion of
the components of EBITDA, Indebtedness and interest attributable to Project Entities from the foregoing financial statements, certified by a Financial Officer; 
 (b) as soon as available, but in any event no later than the later of (x) 50 days after the end of each of the first three fiscal quarters of the Parent and (y) the second Business Day after the
date the financial statements for the Parent and its Subsidiaries referred to in clause (i) below are required to be filed with the Securities and Exchange Commission: 

(i) consolidated statements of operations, changes in equity and cash flows of the Parent and its Subsidiaries for the
period from the beginning of the respective fiscal year to the end of such period, and the related consolidated balance sheets of the Parent and its Subsidiaries as at the end of such period, setting forth in each case in comparative form the
corresponding consolidated figures for the corresponding period in the preceding fiscal year (except that, in the case of balance sheets, such comparison shall be to the last day of the prior fiscal year), 

(ii) a certification made on behalf of the Parent by a Financial Officer to the effect that such financial statements
fairly present in all material respects the financial condition, results of operations and cash flows of the Parent and its Subsidiaries on a consolidated basis as of and for the periods presented in accordance with GAAP consistently applied,
subject to year-end audit adjustments and the absence of footnotes, and 
 (iii) a statement of adjustments
necessary to exclude the effect of that portion of the components of EBITDA, Indebtedness and interest attributable to Project Entities from the foregoing financial statements, certified by a Financial Officer; 

  
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 (c) concurrently with any delivery of financial statements under
clause (a) or (b) above, a certificate of a Financial Officer (i) stating, to the best of his or her personal knowledge, information and belief after due inquiry, whether a Default has occurred and, if a Default known to him or her
has occurred, specifying the details thereof and any action taken or proposed to be taken with respect thereto, (ii) setting forth reasonably detailed calculations demonstrating compliance with Section 8.09, (iii) setting forth
a calculation, in form and detail reasonably satisfactory to the Administrative Agent, of any pro forma adjustments to EBITDA described in the last paragraph of the definition of such term in Section 1.01 and (iv) stating
whether any material change in GAAP or in the application thereof has occurred since the date of the audited financial statements referred to in Section 5.04 and, if any such change has occurred, specifying the effect of such change on
the financial statements accompanying such certificate; 
 (d) notification promptly after the filing of all
registration statements, regular periodic reports and press releases filed by the Parent or any of its Subsidiaries with the Securities and Exchange Commission, or any Governmental Authority succeeding to any or all of the functions of said
Commission, or with any national securities exchange, which notification will be deemed to have been made when such documents are posted to the Electronic Data Gathering, Analysis and Retrieval System (“EDGAR”), any comparable
Securities and Exchange Commission website or the Parent’s website; 
 (e) notification promptly upon the
mailing of all financial statements, reports and proxy statements so mailed to the shareholders of the Parent generally, which notification will be deemed to have been made when such documents are posted to EDGAR, any comparable Securities and
Exchange Commission website or the Parent’s website; and 
 (f) promptly following any request therefor,
such other information regarding the operations, business affairs and financial condition of any Group Member, or compliance with the terms of this Agreement, as the Administrative Agent or any Lender (through the Administrative Agent) may
reasonably request; provided, that the Group Members will not be required to deliver confidential information consisting of trade secrets or other proprietary or competitively sensitive information not constituting financial
information. 
 SECTION 7.02. Notices of Material Events. The Parent will furnish to the Administrative Agent for
delivery to the Lenders prompt written notice of the following: 
 (a) the occurrence of any Default known to a
Financial Officer; 
 (b) the filing or commencement of any action, suit or proceeding by or before any
arbitrator or Governmental Authority against or affecting the Parent or any Affiliate thereof that, in the reasonable judgment of a Financial Officer, has a reasonable likelihood of being adversely determined and which, if adversely determined,
would reasonably be expected to result in a Material Adverse Effect; and 

  
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 (c) any other development that has resulted in, or in the good faith
judgment of a Financial Officer would reasonably be expected to result in, a Material Adverse Effect. 
 Each notice delivered under this
Section 7.02 shall be accompanied by a statement of a Financial Officer describing in reasonable detail (to the extent known to such officer after due inquiry) of the event or development requiring such notice and any action taken or
proposed to be taken with respect thereto. 
 SECTION 7.03. Existence; Conduct of Business. The Parent will, and will
cause each of its Restricted Subsidiaries to, do or cause to be done all things necessary to preserve, renew and keep in full force and effect its legal existence and the rights, licenses, permits, privileges and franchises material to the conduct
and continuation of its business, except where the failure to do so, individually or in the aggregate would not reasonably be expected to have a Material Adverse Effect; provided that the foregoing shall not prohibit any merger,
consolidation, amalgamation, liquidation, winding up or dissolution permitted under Section 8.04. 
 SECTION 7.04.
Payment of Obligations. The Parent will, and will cause each of its Restricted Subsidiaries to, pay its obligations, including Tax liabilities, that, if not paid before the same shall become delinquent or in default, would reasonably be
expected to result in a Material Adverse Effect, except where (a) the validity or amount thereof is being contested in good faith by appropriate proceedings, (b) the Parent or such Subsidiary has set aside on its books adequate reserves
with respect thereto in accordance with GAAP and (c) the failure to make payment pending such contest would not reasonably be expected to result in a Material Adverse Effect. 

SECTION 7.05. Maintenance of Properties; Insurance. The Parent will, and will cause each of its Restricted Subsidiaries to, keep
and maintain all property material to the conduct of its business in good working order and condition, ordinary wear and tear excepted, and except where the failure to do so would not reasonably be expected to have a Material Adverse Effect
excepted. In addition, the Parent will, and will cause each of its Restricted Subsidiaries to maintain with financially sound and reputable insurers, insurance on all real and personal property in at least such amounts and against at least such
risks as are usually insured against by companies of established reputation engaged in the same or similar business and owning similar assets as the Parent or such Restricted Subsidiary (such companies being herein called “Similar
Companies”), except where such risks are covered by self insurance, so long as the amount of such self insurance and the risks covered thereby are consistent with that maintained by Similar Companies. 

SECTION 7.06. Books and Records; Inspection Rights. The Parent will, and will cause each of its Restricted Subsidiaries to, keep
proper books of record and account in which full, true and correct entries are made of all dealings and transactions in relation to its business and activities. The Parent will, and will cause each of its Restricted Subsidiaries to, permit any

  
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representatives designated by the Administrative Agent or any Lender, upon reasonable prior notice, to visit and inspect its properties, to examine and make extracts from its books and records,
and to discuss its affairs, finances and condition with its officers and independent accountants, all at such reasonable times and as often as reasonably requested; provided that the Parent shall not be required to disclose any trade secrets
or any other confidential, proprietary information relating to the Parent or any of its Subsidiaries and respective businesses. If such visit and inspection occurs at a time when no Default has occurred and is continuing, such visit and inspection
by the Administrative Agent or any Lender shall be coordinated through the Administrative Agent and shall be limited to one visit and one inspection during any consecutive twelve-month period. 

SECTION 7.07. Governmental Approvals. Each Obligor agrees that it will promptly obtain from time to time at its own expense all
such governmental licenses, authorizations, consents, permits and approvals as may be required for this Agreement and each other Loan Document to which such Obligor is a party to be a valid and enforceable obligation of such Obligor.

 SECTION 7.08. Compliance with Laws. The Parent will, and will cause each of its Restricted Subsidiaries to, comply
with all laws, rules, regulations and orders of any Governmental Authority (including Environmental Laws) applicable to it or its property, except where the failure to do so, individually or in the aggregate, would not reasonably be expected to
result in a Material Adverse Effect. 
 SECTION 7.09. Use of Proceeds. The proceeds of the Loans will be used to provide
funds for any lawful purpose of the Borrowers and their Subsidiaries. Letters of Credit may be issued for any lawful purpose of the Borrowers and their Subsidiaries (including of any Foreign Subsidiary). No part of any Loan will be used, whether
directly or indirectly, for any purpose that entails a violation of any of the Regulations of the Board, including Regulations U and X. Notwithstanding anything herein to the contrary, no part of any Loan or Letter of Credit, or in either case
proceeds thereof, will be used, whether directly or indirectly, for financing activities in Switzerland or for any other purpose which may give rise to the application of any withholding or similar tax in Switzerland or under Swiss law. Without
limiting the generality of the foregoing, the Borrowers and their Subsidiaries will not directly or indirectly (i) lend or contribute by way of equity the proceeds of the Loans or use any Letter of Credit to fund any Person on the OFAC List at
the time such loan, contribution or Letter of Credit is made or any Person that is known to the Borrowers or the Guarantors as being owned or controlled by a Person on the OFAC List at such time, or (ii) knowingly use or otherwise knowingly
make available the proceeds of any Loan or issue any Letter of Credit to any Subsidiary, joint venture partner or other Person in violation of any of the economic sanctions administered by OFAC. 

SECTION 7.10. Certain Obligations Respecting Subsidiaries. 

(a) New Restricted Subsidiaries. The Parent will take such action, and will cause each of its Restricted Subsidiaries to take such
action from time to time as shall be necessary to ensure that all Restricted Subsidiaries that are Domestic Subsidiaries formed or acquired after the date hereof that are not Immaterial Subsidiaries are “Guarantors” hereunder, including
causing each such newly-formed or acquired Restricted Subsidiary (other than an Immaterial Subsidiary) to 

  
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 (i) become a “Guarantor” hereunder pursuant to a Joinder Agreement
or other instrument in form and substance reasonably satisfactory to the Administrative Agent; and 
 (ii)
deliver such proof of corporate action, incumbency of officers, opinions of counsel and other documents as is consistent with those delivered by each Obligor pursuant to Section 6.01 on the Effective Date or as the Administrative Agent
may reasonably request. 
 For the avoidance of doubt, and subject to the ability of the Parent to elect otherwise pursuant to
Section 7.10(b), no Foreign Subsidiary or Foreign Subsidiary Holding Company shall be required to become a “Guarantor” hereunder other than the Subsidiary Guarantors who were Guarantors on the Effective Date. 

(b) Notwithstanding the provisions of Section 7.10(a), the Parent may elect, at any time and from time to time at its sole
discretion, to cause one or more Subsidiaries to become Guarantors hereunder notwithstanding that such Subsidiary is not required to become a Guarantor hereunder pursuant to Section 7.10(a) and such Subsidiary shall comply with the
requirements set forth in Section 7.10(a)(i) and (ii). 
 (c) The Parent may elect at any time, in its sole
discretion, to have a Foreign Subsidiary or Foreign Subsidiary Holding Company that is a Guarantor be released from its Guarantee (and the Administrative Agent will enter into a release thereof in accordance with Section 11.02) upon
delivery by a Financial Officer to the Administrative Agent of a certificate to the effect that such (i) Foreign Subsidiary or Foreign Subsidiary Holding Company, as applicable, is unable to maintain its Guarantee under applicable financial
assistance, corporate benefit or fiduciary rules or other applicable law or (ii) Foreign Subsidiary’s or Foreign Subsidiary Holding Company’s Guarantee, as applicable, would result in material adverse tax consequences; provided
that (1) at least 15 Business Days prior to the release of any Guarantee, the Parent shall notify the Administrative Agent of such proposed release and begin a consultation with the Administrative Agent regarding whether such Guarantee may be
restricted or restructured to avoid the adverse consequences referred to above and (2) to the extent both the Parent and the Administrative Agent agree that such Guarantee can be restricted or restructured, take any reasonable steps agreed to
by the Parent and the Administrative Agent to restrict or restructure such Guarantee if such consequences may be avoided. Upon expiration of the 15 Business Day period (which period shall include the date of such notice) set forth in the immediately
preceding proviso, the Guarantee of such Foreign Subsidiary or Foreign Subsidiary Holding Company, as applicable, shall be automatically released unless the Parent and the Administrative Agent have agreed to restrict or restructure such Guarantee in
accordance with clause (2) above. 
 (d) Immaterial Subsidiaries. If, based upon the financial statements delivered
pursuant to Section 7.01(a) or 7.01(b) for any fiscal quarter, either the aggregate assets or aggregate revenue of all Subsidiaries designated as “Immaterial Subsidiaries” hereunder in effect

  
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at such time shall exceed $20,000,000 as at the end of and for the most-recently ended four-quarter period, the Company shall, within five Business Days thereof (or such later date as may be
agreed to by the Administrative Agent in its reasonable discretion), (i) rescind the designation as “Immaterial Subsidiaries” of one or more of such Subsidiaries (and of any Subsidiaries thereof) so that, after giving effect thereto,
neither the aggregate assets nor aggregate revenue of all Subsidiaries so designated (and which designations have not been rescinded) shall exceed $20,000,000 and (ii) within 60 days thereafter (or such later date as may be agreed to by the
Administrative Agent in its reasonable discretion), cause the actions and the documents and other instruments referred to in paragraph (a) above to be taken or delivered by the applicable Obligors and such Restricted Subsidiaries as if such
Subsidiaries were newly-acquired Restricted Subsidiaries. Notwithstanding the foregoing, any Subsidiary Guarantor that becomes an “Immaterial Subsidiary” shall be automatically released from its Guarantee and the Administrative Agent will
enter into a release thereof in accordance with Section 11.02 upon delivery of a certificate by the Parent to the Administrative Agent designating such Subsidiary Guarantor as an “Immaterial Subsidiary”. 

(e) Further Assurances. The Parent will, and will cause each Obligor to, take such action from time to time as shall reasonably be
requested by the Administrative Agent to effectuate the purposes and objectives of this Section 7.10. 
 ARTICLE VIII

 NEGATIVE COVENANTS 
 Until the Commitments have expired or been terminated and the principal of and interest on each Loan and all fees payable hereunder shall have been paid in full and all Letters of Credit shall have
expired or terminated or shall have been Defeased and all LC Disbursements outstanding at such time shall have been reimbursed, each Obligor covenants and agrees with the Lenders that: 

SECTION 8.01. Indebtedness. The Parent will not, and will not permit any Restricted Subsidiary to, create, incur, assume or permit
to exist any Indebtedness, except: 
 (a) Indebtedness created hereunder; 

(b) Indebtedness existing on the date hereof and set forth in Schedule 8.01, and any extension, renewal or
refinancing thereof so long as the terms of any such extension, renewal or refinancing provide that (i) no principal payment or prepayment thereof shall be required before the Later Commitment Termination Date, except by reason of acceleration
resulting from an event of default, (ii) the average life to maturity thereof is greater than or equal to the Indebtedness being extended, renewed or refinanced, (iii) the principal amount thereof does not exceed the principal amount of
the Indebtedness being extended, renewed or refinanced (plus any related transaction costs) and (iv) such Indebtedness as so extended, renewed or refinanced is not secured by any property not pledged as security in respect of the Indebtedness
being extended, renewed or refinanced); 

  
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 (c) Indebtedness in respect of (i) letters of credit and bank
guaranties, if such Indebtedness is unsecured, (ii) letters of credit issued for account of one or more Obligors the reimbursement obligations in respect of which are secured solely by cash and/or Cash Equivalents if (x) the aggregate
undrawn amount of all such letters of credit and outstanding reimbursement obligations does not exceed $200,000,000 at any time outstanding and (y) both before and after giving effect to the granting of such security, the aggregate amount of
cash and Cash Equivalents held by the Parent and its Restricted Subsidiaries (excluding cash and Cash Equivalents securing reimbursement obligations in respect of Secured LOCs) plus the aggregate amount of unused Revolving Credit Commitments
is at least $300,000,000 and (iii) letters of credit issued for account of one or more Obligors the reimbursement obligations in respect of which are secured by collateral other than cash and Cash Equivalents (“Secured LOCs”)
if the aggregate undrawn amount of all such letters of credit and reimbursement obligations at any time outstanding plus the Net Commitment Increase Amount at such time plus the Net Incremental Increase Amount at such time does not
exceed $225,000,000; 
 (d) Indebtedness of Restricted Subsidiaries that are not Obligors in an aggregate
principal amount up to but not exceeding $150,000,000; provided that if such Indebtedness is secured by a Lien, such Lien is permitted by Section 8.02; 

(e) Indebtedness incurred to finance the acquisition, construction or improvement of any fixed or capital assets,
including Capital Lease Obligations and any Indebtedness assumed in connection with the acquisition of any such assets or secured by a Lien on any such assets prior to the acquisition thereof, and any refinancings, refundings, renewals, extensions,
or replacements of any such Indebtedness that do not increase the outstanding principal amount thereof; provided that such Indebtedness is incurred prior to or within 90 days after such acquisition or the completion of such construction
or improvement; 
 (f) unsecured Indebtedness issued, incurred or assumed by any Group Member to finance, or in
contemplation of, or acquired in connection with, a permitted Acquisition and any refinancings, refundings, renewals, extensions, or replacements of such Indebtedness, provided that (x) after giving effect to the issuance, incurrence,
assumption, refinancing, refunding, renewal, extension or replacement of such Indebtedness, the Parent shall be in pro forma compliance with the requirements of Section 8.09(a) and shall have delivered to the Administrative Agent a certificate
of a Financial Officer demonstrating such compliance in reasonable detail and (y) such certificate of a Financial Officer shall only be required if (i) such Indebtedness finances, or is in contemplation of, or acquired in connection with,
a Material Acquisition or (ii) the Total Leverage Ratio (as reflected in the most recent certificate delivered under Section 7.01(c)) is equal to or greater than 2.50 to 1; 

(g) secured Indebtedness of a Subsidiary of the Parent acquired or assumed after the Effective Date and secured
Indebtedness of a Person merged or consolidated with or into any Group Member after the Effective Date, which Indebtedness and the Liens securing the same (i) existed at the time of such acquisition, merger, consolidation or conversion, such
acquisition, merger, consolidation or conversion being permitted by 

  
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Section 8.05(c), (ii) were not created in contemplation of such event and (iii) in the case of such Liens, are permitted by Section 8.02, and any refinancings,
refundings, renewals, replacements or extensions thereof whereby the amount of the Indebtedness secured thereby is not increased at the time of such refinancing, refunding, renewal, replacement or extension except by an amount equal to (A) a
reasonable premium or other reasonable amount paid, and fees and expenses reasonably incurred, in connection with such refinancing and (B) any existing commitments unutilized thereunder; provided that no Event of Default shall result from the
assumption of such secured Indebtedness; 
 (h) Indebtedness of any Group Member to any other Group Member or to
any Project Entity for so long as such Group Member or Project Entity, as applicable, remains a Subsidiary; provided that any such Indebtedness of any Obligor to a Subsidiary or a Project Entity that is not an Obligor shall be subordinated to
the Obligations upon terms substantially in the form set forth in Exhibit H hereto or on such other terms in form and substance reasonably satisfactory to the Administrative Agent (it being understood and agreed that, upon the sole discretion of the
Company, such subordination terms may be set forth in the agreement or instrument governing or evidencing such Indebtedness or in a separate subordination agreement); 

(i) Guarantees permitted under Section 8.05; 

(j) Indebtedness issued or borrowed by any Obligor and any refinancings, refundings, renewals, replacements or extensions
of such Indebtedness; provided that (1) after giving effect to the issuance, incurrence, refinancing, refunding, renewal, replacement or extension of such Indebtedness, the Parent shall be in pro forma compliance with the requirements of
Section 8.09(a) and shall have delivered to the Administrative Agent a certificate of a Financial Officer demonstrating such compliance in reasonable detail, (2) such Indebtedness is (i) unsecured or (ii)(A) is secured by Liens
on property or assets of Restricted Subsidiaries that are not Obligors and such Liens do not cover any property or assets of any Obligor and (B) the aggregate amount of obligations secured thereby which constitute Indebtedness does not exceed
$150,000,000 and (3) such certificate of a Financial Officer shall only be required if (y) the principal amount of such Indebtedness is equal to or greater than $200,000,000 or (z) the Total Leverage Ratio (as reflected in the most
recent certificate delivered under Section 7.01(c)) is equal to or greater than 2.50 to 1; 
 (k)
reimbursement obligations of Foreign Subsidiaries that are Restricted Subsidiaries under letters of credit in an aggregate amount up to but not exceeding $50,000,000 which reimbursement obligations of such Foreign Subsidiaries are secured by cash
collateral and which letters of credit support Indebtedness of other Restricted Subsidiaries to the extent that the transfer of such cash by means of intercompany loans to such other Restricted Subsidiaries outside the country of location of such
cash is prohibited by law; and 
 (l) additional Indebtedness of any Group Member incurred for any purpose in an
aggregate principal amount not exceeding $75,000,000 at any one time outstanding. 

  
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 SECTION 8.02. Liens. The Parent will not, and will not permit any Restricted
Subsidiary to, create, incur, assume or permit to exist any Lien on any property or asset now owned or hereafter acquired by it, or assign or sell any income or revenues (including accounts receivable) or rights in respect of any thereof, except:

 (a) any Lien on any property or asset of the Parent or any Restricted Subsidiary existing on the date hereof
and set forth in Schedule 8.02, provided that (i) such Lien shall not apply to any other property or asset of the Parent or any Restricted Subsidiary and (ii) such Lien shall secure only those obligations which it
secures on the date hereof and extensions, renewals and replacements thereof that do not increase the outstanding principal amount thereof; 
 (b) Liens imposed by any Governmental Authority for taxes, assessments or charges not yet due or delinquent (or in the case of property taxes and assessments not exceeding $2,000,000 in the aggregate more
than 90 days overdue) or which are being contested in good faith and by appropriate proceedings if adequate reserves with respect thereto are maintained on the books of the Parent or the affected Subsidiaries, as the case may be, in accordance with
GAAP; 
 (c) carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s or other
like Liens, and vendors’ Liens imposed by statute or common law not securing the repayment of Indebtedness, arising in the ordinary course of business which are not overdue for a period of more than 60 days or which are being contested in good
faith and by appropriate proceedings and Liens securing judgments (including pre-judgment attachments) but only to the extent, for an amount and for a period not resulting in an Event of Default under paragraph (j) of Article IX;

 (d) pledges or deposits under (i) worker’s compensation (including worker’s compensation
insurance programs), unemployment insurance and other social security legislation and (ii) general liability, automobile liability, excess liability, fiduciary liability, directors and officers liability and foreign liability insurance
programs; 
 (e) deposits to secure the performance of bids, tenders, trade contracts (other than for borrowed
money), leases (other than capital leases), statutory obligations, surety and appeal bonds, performance bonds and other obligations of a like nature incurred in the ordinary course of business; 

(f) easements, rights-of-way, restrictions and other similar encumbrances incurred in the ordinary course of business and
encumbrances consisting of zoning restrictions, easements, licenses, restrictions on the use of property or imperfections in title thereto which, in the aggregate, are not material in amount, and which do not, in the aggregate, materially detract
from the value of the property of the Parent and its Restricted Subsidiaries or materially interfere with the ordinary conduct of the business of the Parent or any of its Restricted Subsidiaries; 

(g) Liens consisting of bankers’ liens and rights of setoff, in each case, arising by operation of law or (except to
the extent securing Indebtedness) by contract in the ordinary course of business, and Liens on documents presented in letters of credit drawings; and 

  
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 (h) Liens on fixed or capital assets acquired, constructed or improved by
the Parent or any Restricted Subsidiary, provided that (i) such Liens secure Indebtedness permitted by Section 8.01(e), (ii) such Liens and the Indebtedness secured thereby are incurred prior to or within 90 days after
such acquisition or the completion of such construction or improvement, (iii) the Indebtedness secured thereby does not exceed the cost of acquiring, constructing or improving such fixed or capital assets and (iv) such security interests
shall not apply to any other property or assets of the Parent or any Subsidiary; 
 (i) Liens on property or
assets of Restricted Subsidiaries that are not Obligors, so long as such Liens do not extend to cover property or assets of any Obligor, provided that the aggregate principal amount of Indebtedness secured thereby does not exceed $150,000,000
(it being understood and agreed that the amount of obligations other than Indebtedness shall not be limited); 

(j) licenses, on a non-exclusive basis (or, solely with respect to any territory where neither the Parent nor any
Restricted Subsidiary is doing business, on an exclusive basis) of rights in the intellectual property of the Parent or any Restricted Subsidiary granted in the ordinary course of business; 

(k) Liens on the Equity Interests of, and on the property or assets of, a Project Entity securing Non-Recourse Project
Indebtedness; 
 (l) Liens on property purchased or built pursuant to any engineering, construction, procurement,
manufacturing, equipment or supply contract (each, a “Customer Contract”) with a customer (including any Governmental Authority) in favor of such customer, which Liens arise in the ordinary course of business and secure the
performance obligations of the Parent or the relevant Restricted Subsidiary (as applicable) under such Customer Contract; 
 (m) Liens constituting security referred to in paragraphs (c)(ii), (c)(iii) and (k) of Section 8.01; 

(n) Liens constituting security referred to in Section 8.01(g); provided that (i) any such Lien
(A) existed at the time of the relevant Acquisition and was not created in anticipation thereof, (B) does not by its terms cover any assets after the time of such Acquisition which were not covered immediately prior thereto, and
(C) does not by its terms secure any Indebtedness other than Indebtedness existing immediately prior to the time of such Acquisition and any refinancing Indebtedness in respect thereof and (ii) such Liens may be created on assets of
Persons who are not Obligors to the extent such Liens are otherwise permitted under this Section 8.02; 
 (o) the cash collateral permitted in Section 8.01(k); and 

  
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 (p) additional Liens upon real or personal property created after the date
hereof, provided that the aggregate amount of obligations secured thereby shall not exceed $75,000,000. 
 SECTION 8.03.
Sale and Leaseback Transactions. The Parent will not, and will not permit any Restricted Subsidiary to, directly or indirectly, enter into any arrangement, directly or indirectly, whereby they shall sell or transfer any property, real or
personal, used or useful in their business, whether now owned or hereafter acquired, and thereafter rent or lease such property or other property that they intend to use for substantially the same purpose or purposes as the property sold or
transferred (a “Sale and Leaseback Transaction”) unless (i) the sale of such property is permitted by Section 8.04 and (ii) any Lien arising in connection with the use of such property by any Group Member is
permitted by Section 8.02. 
 SECTION 8.04. Fundamental Changes. The Parent will not, nor will it permit any
of its Restricted Subsidiaries to, enter into any transaction of merger, consolidation or amalgamation, or liquidate, wind up or dissolve itself (or suffer any liquidation, winding up or dissolution). The Parent will not, nor will it permit any of
its Restricted Subsidiaries to, acquire any business or property from, or Equity Interests in, or be a party to any acquisition of, any Person except for purchases of inventory and other property to be sold or used in the ordinary course of
business, Investments and Acquisitions permitted under Section 8.05 and Capital Expenditures. The Parent will not, nor will it permit any of its Subsidiaries to, convey, sell, lease, transfer or otherwise dispose of, in one transaction
or a series of transactions, any part of its business or property, whether now owned or hereafter acquired (including receivables and leasehold interests, but excluding (x) obsolete or worn-out property, tools or equipment no longer used or
useful in its business and (y) any inventory or other property sold or disposed of in the ordinary course of business and on ordinary business terms). 
 Notwithstanding the foregoing provisions of this Section 8.04: 
 (a) any Restricted Subsidiary may be merged or consolidated with or into any other Subsidiary so long as at the time thereof and after giving effect thereto no Default shall have occurred and be
continuing; provided that if any party to such transaction shall be an Obligor, the surviving or continuing entity must be or become an Obligor; 
 (b) any Restricted Subsidiary may sell, lease, transfer or otherwise dispose of any or all of its property (upon voluntary liquidation, winding up, dissolution or otherwise) to any other Restricted
Subsidiary so long as at the time thereof and after giving effect thereto no Default shall have occurred and be continuing; provided that if such sale is of all or substantially all of the assets of an Obligor, either (A) the acquiring
Subsidiary must be or become an Obligor or (B) such sale must be for cash for fair market value, as determined by the Company in good faith (and, if such fair market value shall exceed $50,000,000, such value shall have been determined based
upon an independent valuation); 
 (c) the Equity Interests in any Restricted Subsidiary may be sold, transferred
or otherwise disposed of to the Parent or any Restricted Subsidiary so long as at the time thereof and after giving effect thereto no Default shall have occurred and be continuing; 

  
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 (d) any Restricted Subsidiary (other than a Borrower) may be liquidated,
wound up or dissolved so long as at the time thereof and after giving effect thereto no Default shall have occurred and be continuing; provided that if such Restricted Subsidiary is an Obligor, then the Subsidiary to which the assets of such
Restricted Subsidiary are transferred upon such liquidation, winding up or dissolution shall be or become an Obligor; 
 (e) so long as at the time thereof and after giving effect thereto no Default shall have occurred and be continuing, the Parent or any of its Restricted Subsidiaries may sell assets (including Equity
Interests issued by any of their respective Restricted Subsidiaries) for fair market value, provided that the aggregate fair market value of all assets sold pursuant to this paragraph (e) during any single fiscal year shall not exceed
$300,000,000; 
 (f) in addition to the sales permitted under the foregoing paragraph (e), the Parent and
its Restricted Subsidiaries may (i) sell the property of, or Equity Interests in, Project Entities (so long as after giving effect to such sale, the Parent shall be in pro forma compliance with the requirements of Section 8.09 and
shall have delivered a calculation, in form and detail reasonably satisfactory to the Administrative Agent, to such effect from a Financial Officer) and (ii) consummate other sales so long as the aggregate fair market value thereof in any
single fiscal year shall not exceed $100,000,000; 
 (g) the Parent or any Restricted Subsidiary may transfer or
otherwise dispose of any property that is subject to a Customer Contract to the customer under such Customer Contract in connection with the transfer of the project to such customer; and 

(h) FWL and/or Holdco may be dissolved; provided that 100% of the economic interests and voting power in the Equity
Interests of Holdco or the Company owned by the Person to be dissolved shall be transferred to the Parent (in the case of a dissolution of FWL or of FWL and Holdco) or FWL (in the case of a dissolution of Holdco) in connection with such dissolution.
Upon the dissolution of FWL pursuant to this Section 8.04(h), all references in the Loan Documents to “FWL” shall be deemed to have no effect. Upon the dissolution of Holdco pursuant to this Section 8.04(h), all
references in the Loan Documents to “Holdco” shall be deemed to have no effect. 
 SECTION 8.05. Investments,
Loans, Advances, Guarantees and Acquisitions; Hedging Agreements. 
 (a) Investments, Etc. The Parent will not, and
will not permit any of its Restricted Subsidiaries to, make or permit to remain outstanding any Investment, except: 
 (i) Investments held by the Parent and its Restricted Subsidiaries either (A) on the date of, and reflected in, the most recent financial statements delivered under Section 5.04 or
(B) on the Effective Date, if, in the case of this clause (B), either such Investments are listed on Schedule 8.05 or the amount of any such individual Investment is less than or equal to $10,000,000; 

  
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 (ii) (A) Investments by the Parent and its Restricted Subsidiaries in
Obligors, (B) Investments by any Subsidiary of the Parent that is not an Obligor in any Restricted Subsidiary and (C) to the extent constituting Investments, the sale, transfer or other disposition of the Equity Interests in (x) any
Restricted Subsidiary of an Obligor to any other Obligor and (y) any Subsidiary of a non-Obligor to any Restricted Subsidiary; 
 (iii) Investments by the Obligors in Restricted Subsidiaries that are not Obligors, if such Investments either (A) are outstanding on December 31, 2011 or (B) are made on or after
January 1, 2012 and, in the case of this clause (B), the aggregate amount of such Investments (excluding Investments referred to in Sections 8.05(a)(i) and (a)(ii) and Investments in special purpose entities that are formed or acquired
solely in connection with an Acquisition permitted by Section 8.05(c)) does not exceed the sum of (w) $835,000,000 plus (x) 100% of all cash and the fair market value of non-cash assets received on or after
January 1, 2012 by any Obligor on account of Investments made pursuant to this clause (iii), whether as income, return of capital or proceeds of the sale of such Investments plus (y) 100% of all loan repayments, proceeds of
intercompany loans and other payments whether in cash or non-cash assets (the amount of any such non-cash assets being the fair market value thereof), except for amounts included in the foregoing subclause (x), received any time from and after
January 1, 2012 by Obligors from Restricted Subsidiaries that are not Obligors plus (z) the Unapplied Equity Proceeds at such time; 
 (iv) Investments in Project Entities and joint ventures if such Investments either (A) are outstanding on December 31, 2011 or (B) are made on or after January 1, 2012 and, in the case
of this clause (B), the aggregate amount of such Investments (excluding Investments referred to in Sections 8.05(a)(i) and (a)(ii)) does not exceed the sum of (w) $670,000,000 plus (x) 100% of all cash received on or after
January 1, 2012 by any Obligor on account of Investments made pursuant to this clause (iv), whether as income, return of capital or proceeds of the sale of such Investments plus (y) at any time 50% of the cumulative Excess Cash
Flow for the period commencing on January 1, 2012 through and including the last day of the fiscal year most recently ended prior to such time plus (z) the Unapplied Equity Proceeds at such time; 

(v) Permitted Investments; 
 (vi) operating deposit accounts with banks; 
 (vii) Guarantees by
the Parent or any Restricted Subsidiary of Indebtedness or other obligations of the Parent or any Restricted Subsidiary or Affiliate not otherwise prohibited by this Agreement; 

(viii) Investments constituting Acquisitions permitted under Section 8.05(c); 

(ix) cash deposits for leased property; 

(x) Capital Expenditures made in the ordinary course of business; 

  
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 (xi) advances to officers, directors and employees of a Group Member for
business-related expenses and expenditures in the ordinary course of business; 
 (xii) Guarantees permitted by
Section 8.01; 
 (xiii) Investments of a Person existing at the time such Person is merged into or
consolidated with a Group Member or becomes a Subsidiary of the Parent in connection with an Acquisition permitted under Section 8.05(c); provided that such Investments were not made in contemplation of such Acquisition;

 (xiv) Investments consisting of non-Cash consideration in the form of Equity Interests, promissory note or
similar obligations in connection with any Disposition; and 
 (xv) additional Investments in an aggregate amount
up to but not exceeding at any one time the sum of (x) $100,000,000 plus (y) 100% of all cash received after the Effective Date by the Parent and its Restricted Subsidiaries on account of Investments made pursuant to this
clause (ix), whether as income, return of capital or proceeds of the sale of such Investments plus (z) the Unapplied Equity Proceeds at such time. 
 For purposes of paragraphs (i), (iii), (iv) and (xv) of this Section 8.05(a), any increase or decrease in the value of an Investment subsequent to December 31, 2011 shall not be
deemed to increase or reduce the dollar amount set forth in such paragraphs. 
 Notwithstanding anything contained to the contrary in this
paragraph (a), the Parent or any Restricted Subsidiary may permit internal reorganizations or Acquisitions permitted under Section 8.05(c) consisting of one or more intermediate steps that would otherwise violate this
paragraph (a) if (i) after the completion of the final step of any such reorganization or Acquisition no such violation shall be continuing, (ii) in the reasonable opinion of the Administrative Agent, no such violation could be
reasonably expected to be materially adverse to or otherwise jeopardize the interests of the Lenders, (iii) all of the steps required for the consummation of such reorganization or Acquisition shall be completed within a period of time deemed
by the Administrative Agent to be reasonable and (iv) no Default shall have occurred or be continuing at any time while such steps are being completed or after giving effect to the consummation of such reorganization. 

(b) Hedging Agreements. The Parent will not, and will not permit any of its Restricted Subsidiaries to, enter into any Hedging
Agreement, other than Hedging Agreements entered into in the ordinary course of business to hedge or mitigate risks to which the Parent or any Restricted Subsidiary is exposed in the conduct of its business or the management of its liabilities.

 (c) Acquisitions. The Parent will not, and will not permit any of its Restricted Subsidiaries to, make any Acquisition
unless: 
 (i) such Acquisition (if by purchase of assets, merger, consolidation or amalgamation) shall be
effected in such manner so that the acquired business, and the related assets, are owned either by the Parent or a Subsidiary of the Parent and, if effected by merger, consolidation or amalgamation involving the Parent, the Parent shall be the

  
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continuing or surviving entity and, if effected by merger, consolidation or amalgamation involving a Subsidiary of the Parent, such Subsidiary shall be the continuing or surviving entity;

 (ii) such Acquisition (if by purchase of Equity Interests) shall be effected in such manner so that the
acquired entity becomes a Subsidiary of the Parent; 
 (iii) such business and the related assets, or any
acquired Subsidiary, are primarily a business permitted under Section 8.10; and 
 (iv) at the time
of and both before and after giving effect to such Acquisition (including under any financial covenant calculated on a pro forma basis), no Event of Default shall have occurred and be continuing. 

SECTION 8.06. Restricted Payments. The Parent will not, nor will it permit any of its Restricted Subsidiaries to, declare or make
any Restricted Payment at any time, except that the Parent may declare and make any Restricted Payment in cash (including Restricted Payments to Affiliates) so long as (i) on the date of such Restricted Payment and after giving effect thereto
no Default shall have occurred and be continuing, and (ii) either (x) immediately after giving effect thereto the Total Leverage Ratio is less than 1.50 to 1 or (y) the aggregate amount of such Restricted Payment together with all
other Restricted Payments (excluding Restricted Payments made as permitted by the immediately preceding clause (x)) made after the date hereof shall not exceed the sum of (A) $150,000,000 in any fiscal year of the Parent plus
(B) 50% of cumulative net income for the period commencing on January 1, 2012 and ending on the last day of the fiscal quarter for which financial statements have most recently been delivered pursuant to Section 7.01 and
(C) the Unapplied Equity Proceeds at such time. 
 Nothing herein shall be deemed to prohibit (a) the payment of any
dividend or distribution or the making of any payment in cash on account of the purchase, redemption, retirement, acquisition, cancellation or termination of any equity interest in any Subsidiary of the Parent (i) so long as either (A) the
portion of such dividends, distributions or other payments that are paid to the Parent and the Restricted Subsidiaries are not less than the portion thereof that such Persons would be entitled to receive if such dividends, distributions and other
payments were declared and paid ratably to the shareholders, partners and other equityholders of such Subsidiary or (B) such payment is being made in respect of the purchase by such Restricted Subsidiary from one or more of its equityholders of
minority interests held by such equityholders in such Restricted Subsidiary, so long as such purchase is an Investment permitted under Section 8.05(a) or (ii) from a Restricted Subsidiary to an Obligor; (b) the declaration and
payment of dividends or other distributions by the Parent or a Restricted Subsidiary payable solely in the common stock or other common Equity Interests of such Person or (c) the purchase by the Parent of an Equity Interest of the Parent and
any warrants or other rights with respect to any Equity Interest of the Parent from its employees, officers and directors by net exercise, pursuant to the terms of any employee stock option, restricted stock or incentive stock plan. 

SECTION 8.07. Transactions with Affiliates. Except as expressly permitted by this Agreement, the Parent will not, nor will it
permit any of its Restricted Subsidiaries to, directly or indirectly enter into any other transaction directly or indirectly with or for the benefit 

  
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of an Affiliate (including guarantees and assumptions of obligations of an Affiliate) unless the consideration received (or paid) by the Parent or the relevant Subsidiary, as the case may be, is
not less than (if received) or more than (if paid) the consideration that would be received or paid, as the case may be, in a comparable transaction effected on an arms’ length basis with a Person that is not an Affiliate, provided that
(i) any Affiliate who is an individual may serve as a director, officer, employee or consultant of the Parent or any of its Restricted Subsidiaries and receive reasonable compensation for his or her services in such capacity, (ii) the
Parent and its Restricted Subsidiaries may engage in and continue the transactions with or for the benefit of Affiliates which are described in Schedule 8.07, (iii) the Parent and its Restricted Subsidiaries may Guarantee any
Indebtedness of Project Entities to the extent permitted under Section 8.01, and may Guarantee any other obligations of Project Entities not constituting Indebtedness so long as the aggregate value provided or aggregate amount paid by
the Parent or such Restricted Subsidiary in respect of such Guarantee is permitted under Section 8.05 when provided or paid and (iv) the Parent and its Restricted Subsidiaries may enter into any transaction with an Affiliate
involving consideration having an aggregate value not exceeding $1,000,000. 
 SECTION 8.08. Restrictive Agreements. The
Parent will not, and will not permit any of its Restricted Subsidiaries to, directly or indirectly, enter into, incur or permit to exist any agreement that prohibits, restricts or imposes any condition upon (a) the ability of any Obligor to
create, incur or permit to exist any Lien upon any of its property or assets, or (b) the ability of any Restricted Subsidiary to pay dividends or other distributions with respect to any of its Equity Interests or to make or repay loans or
advances to the Parent or any other Restricted Subsidiary or to guarantee Indebtedness of the Parent or any other Restricted Subsidiary; provided that 
 (i) the foregoing shall not apply to restrictions and conditions imposed by law (or imposed by agreement reflecting such law so long as such agreement is no more restrictive than the restrictions and
conditions imposed by law) or by this Agreement, 
 (ii) the foregoing shall not apply to restrictions and
conditions existing on the date hereof identified on Schedule 8.08 and any amendment, modification, extension, renewal or replacement thereof on terms that, taken as a whole, are not materially more adverse to the interests of the
Lenders than such restrictions and conditions existing on the date hereof, 
 (iii) the foregoing shall not apply
to restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, provided such restrictions and conditions apply only to the Subsidiary that is to be sold and such sale is permitted hereunder,

 (iv) the foregoing shall not apply to restrictions or conditions imposed by any agreement relating to any
Indebtedness or other obligation not prohibited by this Agreement if such restrictions or conditions consist of (x) requirements to maintain a borrowing base in respect of such Indebtedness or other obligation, (y) the grant of, or promise
to grant, Liens permitted hereunder as collateral security for such Indebtedness or other obligation, or (z) restrictions upon the grant or existence of other Liens on property or assets securing such Indebtedness or other obligation,

  
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 (v) the foregoing shall not apply to restrictions and conditions on any
property purchased or built pursuant to a Customer Contract arising in the ordinary course of business, and 

(vi) clause (a) of the foregoing shall not apply to customary provisions in leases and other contracts restricting
the assignment thereof. 
 SECTION 8.09. Certain Financial Covenants. 

(a) Total Leverage Ratio. The Parent will not permit the Total Leverage Ratio at any time to exceed 3.00 to 1; provided
that at the Company’s option the maximum Total Leverage Ratio may be increased to 3.25 to 1 (each such election, a “Leverage Ratio Increase”) for the four consecutive fiscal quarter ending dates immediately following the
consummation of a Material Acquisition; provided further that, in any event (without regard to the making of more than one Material Acquisition), the maximum Total Leverage Ratio must return to 3.00 to 1 for the fiscal quarter ending
immediately following the four quarter period during which the Leverage Ratio Increase was effective. 
 (b) Interest
Coverage Ratio. The Parent will not permit the Interest Coverage Ratio as at the last day of any fiscal quarter to be less than or equal to 3.00 to 1. 
 SECTION 8.10. Lines of Business. Neither the Parent nor any of its Subsidiaries shall engage to any substantial extent in any line or lines of business activity other than that conducted on the
Effective Date, and any other business that is reasonably incidental and complementary thereto including businesses engaged in the environmental, construction, waste water treatment, infrastructure and mining and material terminal services
industries. 
 SECTION 8.11. Changes to Fiscal Year. To enable the ready and consistent determination of compliance with
the covenants set forth in Section 8.09, the Parent will not change the last day of its fiscal year from the last day of each calendar year, or the last day of the first three fiscal quarters in each of its fiscal years from the last day
in March, June or September, respectively. 
 SECTION 8.12. Parent, FWL and Holdco. None of the Parent, FWL nor Holdco
will acquire directly (as opposed to acquiring indirectly through Subsidiaries) ownership of the operating assets used to conduct any business. 
 ARTICLE IX 
 EVENTS OF DEFAULT 

If any of the following events (“Events of Default”) shall occur: 

(a) any Borrower shall fail to pay any principal of any Loan or any reimbursement obligation in respect of any
LC Disbursement when and as the same shall become due and payable, whether at the due date thereof or at a date fixed for prepayment thereof or otherwise; 

  
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 (b) any Borrower shall fail to pay any interest on any Loan or any fee or
any other amount (other than an amount referred to in clause (a) of this Article) payable under this Agreement or under any other Loan Document, when and as the same shall become due and payable, and such failure shall continue unremedied for a
period of five or more Business Days; 
 (c) any representation or warranty made or deemed made by or on behalf
of any Obligor or any of its Restricted Subsidiaries in or in connection with this Agreement or any other Loan Document or any amendment or modification hereof or thereof, or in any report, certificate, financial statement or other document
furnished pursuant to or in connection with this Agreement or any other Loan Document or any amendment or modification hereof or thereof, shall prove to have been incorrect when made or deemed made in any material respect; 

(d) any Obligor shall fail to observe or perform any covenant, condition or agreement contained in
Section 7.03 (with respect to any Borrower’s existence) or in Article VIII; 
 (e)
any Obligor, as applicable, shall fail to observe or perform any covenant, condition or agreement contained in this Agreement (other than those specified in clause (a), (b) or (d) of this Article) or any other Loan Document and such
failure shall continue unremedied for a period of 30 or more days after notice thereof from the Administrative Agent (given at the request of any Lender) to a Borrower; 

(f) any Obligor or any of its Restricted Subsidiaries shall fail to make any payment (whether of principal or interest and
regardless of amount) in respect of any Material Indebtedness, when and as the same shall become due and payable, after giving effect to any applicable grace period as originally in effect; 

(g) any event or condition occurs that results in any Material Indebtedness becoming due prior to its scheduled maturity
or that enables or permits (if any required giving of notice, lapse of time or both has occurred) the holder or holders of any Material Indebtedness or any trustee or agent on its or their behalf to cause, with the giving of notice or lapse of time
if required, any Material Indebtedness to become due, or to require the prepayment, repurchase, redemption or defeasance thereof, prior to its scheduled maturity (an “Acceleration”), and (x) such time shall have lapsed and, if
any notice (a “Default Notice”) shall be required to commence a grace period or declare the occurrence of an event of default before notice of Acceleration may be delivered, such Default Notice shall have been given, (y) such
default shall not have been remedied, and (z) in the case of any such Indebtedness of any Foreign Subsidiary, such Indebtedness shall have been Accelerated and such Acceleration shall not have been rescinded; provided that this
clause (g) shall not apply to secured Indebtedness that becomes due as a result of the voluntary sale or transfer of the property or assets securing such Indebtedness or any other mandatory prepayment, redemption, repurchase event or condition
(such as a change of control, sale of assets or determination of taxability) not customarily constituting events of default in respect of such Indebtedness; 

  
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 (h) an involuntary proceeding shall be commenced or an involuntary petition
shall be filed seeking (i) liquidation, winding up, reorganization or other relief in respect of any Obligor or any Significant Subsidiary or the debts of any of them, or of a substantial part of the assets of any of them, under any Federal,
state or foreign bankruptcy, insolvency, receivership or similar law now or hereafter in effect or (ii) the appointment of a receiver, trustee, liquidator, custodian, sequestrator, conservator or similar official for any Obligor or any of such
Restricted Subsidiaries or for a substantial part of the assets of any of them, and, in any such case, such proceeding or petition shall continue undismissed for 60 days or an order or decree approving or ordering any of the foregoing shall be
entered; 
 (i) any Obligor or any Significant Subsidiary shall (i) voluntarily commence any proceeding or
file any petition seeking liquidation, winding up, reorganization or other relief under any Federal, state or foreign bankruptcy, insolvency, receivership or similar law now or hereafter in effect, (ii) consent to the institution of, or fail to
contest in a timely and appropriate manner, any proceeding or petition described in clause (h) of this Article, (iii) apply for or consent to the appointment of a receiver, trustee, liquidator, custodian, sequestrator, conservator or
similar official for any Obligor or any of such Restricted Subsidiaries or for a substantial part of the assets of any of them, (iv) file an answer admitting the material allegations of a petition filed against it in any such proceeding,
(v) make a general assignment for the benefit of creditors or (vi) take any action for the purpose of effecting any of the foregoing; 
 (j) a final judgment or judgments for the payment of money in excess of $50,000,000 in the aggregate for the Obligors and the Significant Subsidiaries (exclusive of judgment amounts covered by insurance
issued by creditworthy carriers where such carriers have admitted liability in respect of such amounts or assumed the defense for the related proceeding) shall be rendered by one or more courts, administrative tribunals or other bodies having
jurisdiction against the Obligors or any of the Significant Subsidiaries and the same shall not be discharged (or provision shall not be made for such discharge), or a stay of execution thereof shall not be procured, within 60 days from the
date of entry thereof and the relevant Obligor or Significant Subsidiary shall not, within said period of 60 days, or such longer period during which execution of the same shall have been stayed, appeal therefrom and cause the execution thereof
to be stayed during such appeal; 
 (k) an ERISA Event shall have occurred that, in the opinion of the Required
Lenders, when taken together with all other ERISA Events that have occurred, could reasonably be expected to result in one or more claims or other liabilities against the Obligors and their Subsidiaries that in the aggregate would exceed
$50,000,000; or 
 (l) any Change of Control shall occur and be continuing, 

then, and in every such event (other than an event with respect to a Borrower described in clause (h) or (i) of this Article), and at any time
thereafter during the continuance of such event, the Administrative Agent may, and at the request of the Required Lenders shall, by notice to the Company, take either or both of the following actions, at the same or different times:

  
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(i) terminate the Commitments, and thereupon the Commitments shall terminate immediately, and (ii) declare the Loans then outstanding to be due and payable in whole (or in part, in
which case any principal not so declared to be due and payable may thereafter be declared to be due and payable), and thereupon the principal of the Loans so declared to be due and payable, together with accrued interest thereon and all fees and
other obligations of each Borrower accrued hereunder, shall become due and payable immediately, without presentment, demand, protest or other notice of any kind, all of which are hereby waived by each Borrower; and in case of any event with respect
to a Borrower described in clause (h) or (i) of this Article, the Commitments shall automatically terminate and the principal of the Loans then outstanding, together with accrued interest thereon and all fees and other obligations of each
Borrower accrued hereunder, shall automatically become due and payable, without presentment, demand, protest or other notice of any kind, all of which are hereby waived by each Borrower. 

In the event that the Loans shall be declared, or shall become, due and payable pursuant to the immediately preceding paragraph then,
upon notice from the Administrative Agent or Lenders with LC Exposure representing more than 50% of the total LC Exposure demanding the deposit of cash collateral pursuant to this paragraph, the Borrowers shall immediately deposit into the
Letter of Credit Collateral Account referred to in Section 2.05(k), cash in an amount equal to the relevant LC Exposure as of such date plus any accrued and unpaid interest thereon; provided that the obligation to
deposit such cash shall become effective immediately, and such deposit shall become immediately due and payable, without demand or other notice of any kind, upon the occurrence of any Event of Default with respect to a Borrower described in
clause (h) or (i) of this Article. 
 ARTICLE X 

THE ADMINISTRATIVE AGENT 
 Each of the Lenders and each of the Issuing Lenders hereby irrevocably appoints the Administrative Agent as its agent and authorizes the Administrative Agent to take such actions on its behalf and to
exercise such powers as are delegated to the Administrative Agent by the terms of this Agreement and the other Loan Documents, together with such actions and powers as are reasonably incidental thereto. The provisions of this Article are solely for
the benefit of the Administrative Agent, the Lenders and the Issuing Lenders, and no Obligor shall have rights as a third-party beneficiary of any of such provisions. It is understood and agreed that the use of the term “agent” herein or
in any other Loan Documents (or any other similar term) with reference to the Administrative Agent is not intended to connote any fiduciary or other implied (or express) obligations arising under agency doctrine of any applicable law. Instead such
term is used as a matter of market custom, and is intended to create or reflect only an administrative relationship between contracting parties. 
 BNP Paribas shall have the same rights and powers in its capacity as a Lender hereunder as any other Lender and may exercise the same as though BNP Paribas were not the Administrative Agent, and BNP
Paribas and its Affiliates may accept deposits from, lend money to and generally engage in any kind of business with any Obligor or any Subsidiary or other Affiliate of any thereof as if it were not the Administrative Agent hereunder. 

  
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 The Administrative Agent shall not have any duties or obligations except those expressly set
forth in this Agreement and the other Loan Documents. Without limiting the generality of the foregoing, (a) the Administrative Agent shall not be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and
is continuing, (b) the Administrative Agent shall not have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated by this Agreement and the other Loan
Documents that the Administrative Agent is required to exercise as directed in writing by the Required Lenders, and (c) except as expressly set forth herein and in the other Loan Documents, the Administrative Agent shall not have any duty to
disclose, and shall not be liable for the failure to disclose, any information relating to any Obligor or any of their respective Subsidiaries that is communicated to or obtained by BNP Paribas or any of its Affiliates in any capacity. The
Administrative Agent shall not be liable for any action taken or not taken by it with the consent or at the request of the Required Lenders or, if provided herein, with the consent or at the request of the Required Revolving Credit Lenders or
Required Incremental Lenders of any Class, or in the absence of its own gross negligence or willful misconduct. The Administrative Agent shall not be deemed to have knowledge of any Default unless and until written notice thereof is given to the
Administrative Agent by a Borrower or Lender, and the Administrative Agent shall not be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or representation made in or in connection with this Agreement or
the other Loan Documents, (ii) the contents of any certificate, report or other document delivered hereunder or under any of the other Loan Documents or in connection herewith of therewith, (iii) the performance or observance of any of the
covenants, agreements or other terms or conditions set forth herein or in any other Loan Document, (iv) the validity, enforceability, effectiveness or genuineness of this Agreement, the other Loan Documents or any other agreement, instrument or
document, or (v) the satisfaction of any condition set forth in Article VI or elsewhere herein, other than to confirm receipt of items expressly required to be delivered to the Administrative Agent. 

The Administrative Agent shall not be required to initiate or conduct any litigation or collection proceedings hereunder or under any
other Loan Document. 
 The Administrative Agent shall be entitled to rely upon, and shall not incur any liability for relying
upon, any notice, request, certificate, consent, statement, instrument, document or other writing believed by it to be genuine and to have been signed or sent by the proper Person. The Administrative Agent also may rely upon any statement made to it
orally or by telephone and believed by it to be made by the proper Person, and shall not incur any liability for relying thereon. In determining compliance with any condition hereunder to the making of a Loan, or the issuance, extension, renewal or
increase of a Letter of Credit, that by its terms must be fulfilled to the satisfaction of a Lender or an Issuing Lender, the Administrative Agent may presume that such condition is satisfactory to such Lender or Issuing Lender unless the
Administrative Agent shall have received notice to the contrary from such Lender or Issuing Lender prior to the making of such Loan or the issuance of such Letter of Credit. The Administrative Agent may consult with legal counsel (who may be counsel
for a Borrower), independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts. 

  
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 The Administrative Agent may perform any and all of its duties, and exercise its rights and
powers, by or through any one or more sub-agents appointed by the Administrative Agent. The Administrative Agent and any such sub-agent may perform any and all of its duties and exercise its rights and powers through its Related Parties. The
exculpatory provisions of the preceding paragraphs shall apply to any such sub-agent and to the Related Parties of the Administrative Agent and any such sub-agent, and shall apply to its activities in connection with the syndication of the credit
facilities provided for herein as well as activities as the Administrative Agent. The Administrative Agent shall not be responsible for the negligence or misconduct of any sub-agents except to the extent that a court of competent jurisdiction
determines in a final and nonappealable judgment that the Administrative Agent acted with gross negligence or willful misconduct in the selection of such sub-agents. 
 The Administrative Agent may resign at any time upon 15 days notice to the Lenders, the Issuing Lenders and the Company. Upon any such resignation, the Required Lenders shall have the right, with the
consent of the Company (not to be unreasonably withheld), to appoint a successor Administrative Agent. If no successor shall have been so appointed and shall have accepted such appointment within 15 days after such retiring Administrative Agent
gives notice of its resignation (the “Resignation Effective Date”), then such retiring Administrative Agent may, on behalf of the Lenders and the Issuing Lenders, appoint a successor Administrative Agent, which shall be a bank with
an office in New York, New York, or an Affiliate of any such bank, provided that if no such bank is willing to accept such appointment, the retiring Administrative Agent’s resignation shall nevertheless thereupon become effective.

 If the Person serving as Administrative Agent is a Defaulting Lender pursuant to clause (d) of the definition thereof,
the Required Lenders may, to the extent permitted by applicable law, by notice in writing to the Company and such Person remove such Person as Administrative Agent and, in consultation with the Company, appoint a successor. If no such successor
shall have been so appointed by the Required Lenders and shall have accepted such appointment within 30 days (or such earlier day as shall be agreed by the Required Lenders) (the “Removal Effective Date”), then such removal shall
nonetheless become effective in accordance with such notice on the Removal Effective Date. 
 With effect from the Resignation
Effective Date or the Removal Effective Date, as applicable, (a) the retiring or removed Administrative Agent shall be discharged from its duties and obligations hereunder and under the other Loan Documents and (b) except for any indemnity
payments owed to the retiring or removed Administrative Agent, all payments, communications and determinations provided to be made by, to or through the Administrative Agent shall instead be made by or to each Lender and Issuing Lender directly,
until such time, if any, as the Required Lenders appoint a successor Administrative Agent as provided for above. Upon the acceptance of its appointment as Administrative Agent, such successor shall succeed to and become vested with all the rights,
powers, privileges and duties of the retiring or removed Administrative Agent (and the retiring or removed Administrative Agent shall be discharged from its duties and obligations hereunder and under the other Loan Documents) other than any rights
to indemnity payments owed to the retiring or removed Administrative Agent. The fees payable by the Company to a successor Administrative Agent shall be the same as those payable to its predecessor unless otherwise agreed between the Company and
such successor. After an Administrative Agent’s resignation hereunder, the provisions of this Article and Section 11.03 shall continue in effect for its benefit in respect of any actions taken or omitted to be taken by it while it
was acting as Administrative Agent. 

  
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 Each Lender acknowledges that it has, independently and without reliance upon the
Administrative Agent, any Issuing Lender or any other Lender and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement. Each Lender also acknowledges that it
will, independently and without reliance upon the Administrative Agent, any Issuing Lender or any other Lender and based on such documents and information as it shall from time to time deem appropriate, continue to make its own decisions in taking
or not taking action under or based upon this Agreement and the other Loan Documents, any related agreement or any document furnished hereunder or thereunder. 
 The institutions listed on the cover page of this Agreement as Sole Bookrunner, Joint Lead Arrangers, Syndication Agents and Documentation Agents shall have no rights, obligations or liabilities under the
Loan Documents in those capacities. 
 ARTICLE XI 
 MISCELLANEOUS 
 SECTION 11.01. Notices. 

(a) Notices Generally. Except in the case of notices and other communications expressly permitted to be given by telephone (and
subject to paragraph (b) below), all notices and other communications provided for herein shall be in writing and shall be delivered by hand or overnight courier service, mailed by certified or registered mail or sent by telecopy, as follows:

 (i) if to a Borrower, to it at Perryville Corporate Park, 53 Frontage Road, PO Box 9000, Hampton, New Jersey
08827-9000, Attention of the Treasurer (Telecopy No. (908) 730-5300) and the General Counsel (Telecopy No. (908) 730-5300); 
 (ii) if to a Guarantor, to it care of the Company at the address indicated in clause (i) above; 
 (iii) if to the Administrative Agent, to BNP Paribas, 787 Seventh Avenue, New York, New York 10019, Attention of Dina Wilson (Telecopy No. (201) 850-4020) and Ryan Masajo (Telecopy No
(201) 850-4020); and 
 (iv) if to any Lender (including to each of BNP Paribas and HSBC in its capacity as
the Issuing Lender), to it at its address (or telecopy number) set forth in its Administrative Questionnaire. 
 (b)
Electronic Communications. Notices and other communications from and to the Lenders hereunder may be delivered or furnished by electronic communications pursuant to procedures approved by the Administrative Agent; provided that the
foregoing shall not apply to (1) notices pursuant to Article II (other than notices to HSBC as Issuing Lender) unless otherwise agreed by the Administrative Agent and the applicable Lender and (2) notices to

  
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HSBC as Lender. The Administrative Agent and the Company may, in its discretion, agree to accept notices and other communications hereunder to the Administrative Agent or the Borrowers, as the
case may be, by electronic communications pursuant to procedures approved by it; provided that approval of such procedures may be limited to particular notices or communications. 

Unless the Administrative Agent otherwise prescribes, (i) notices and other communications sent to an e-mail address shall be deemed
received upon the sender’s receipt of an acknowledgement from the intended recipient (such as by the “return receipt requested” function, as available, return e-mail or other written acknowledgement), and (ii) notices or
communications posted to internet or intranet websites shall be deemed received upon the deemed receipt by the intended recipient, at its e-mail address as described in the foregoing clause (i), of notification that such notice or communication
is available and identifying the website address therefor; provided that for both clauses (i) and (ii) above, if such notice, email or other communication is not sent during the normal business hours of the recipient, such notice or
communication shall be deemed to have been sent at the opening of business on the next Business Day for the recipient. 
 (c)
Changes to Notice Information. Any party hereto may change its address or telecopy number for notices and other communications hereunder by notice to the other parties hereto. All notices and other communications given to any party hereto in
accordance with the provisions of this Agreement shall be deemed to have been given on the date of receipt. 
 (d)
Platform. 
 (i) Each Obligor agrees that the Administrative Agent may, but shall not be obligated to,
make the Communications (as defined below) available to the Issuing Lenders and the other Lenders by posting the Communications on Debt Domain, Intralinks, Syndtrak or a substantially similar electronic transmission system (the
“Platform”); provided that the foregoing shall not apply to notices to HSBC as Lender. 

(ii) The Platform is provided “as is” and “as available.” The Agent Parties (as defined below) do not
warrant the adequacy of the Platform and expressly disclaim liability for errors or omissions in the Communications. No warranty of any kind, express, implied or statutory, including any warranty of merchantability, fitness for a particular purpose,
non-infringement of third-party rights or freedom from viruses or other code defects, is made by any Agent Party in connection with the Communications or the Platform. In no event shall the Administrative Agent or any of its Related Parties
(collectively, the “Agent Parties”) have any liability to any Obligor, any Lender or any other Person or entity for damages of any kind, including direct or indirect, special, incidental or consequential damages, losses or expenses
(whether in tort, contract or otherwise) arising out of the Administrative Agent’s transmission (whether on behalf of itself or behalf of an Obligor) of Communications through the Platform. “Communications” means, collectively,
any notice, demand, communication, information, document or other material provided by or on behalf of an Obligor 

  
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pursuant to any Loan Document or the transactions contemplated therein which is distributed to the Administrative Agent, any Lender or any Issuing Lender by means of electronic communications
pursuant to this Section 11.01, including through the Platform. 
 SECTION 11.02. Waivers; Amendments.

 (a) Waivers. No failure or delay by the Administrative Agent, any Issuing Lender or any Lender in exercising any right
or power hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such a right or power, preclude any other or further exercise thereof
or the exercise of any other right or power. The rights and remedies of the Administrative Agent, the Issuing Lenders and the Lenders hereunder are cumulative and are not exclusive of any rights or remedies that they would otherwise have. No waiver
of any provision of this Agreement or consent to any departure by any Obligor therefrom shall in any event be effective unless the same shall be permitted by paragraph (b) of this Section 11.02, and then such waiver or consent shall
be effective only in the specific instance and for the purpose for which given. Without limiting the generality of the foregoing, the making of a Loan or issuance of a Letter of Credit shall not be construed as a waiver of any Default, regardless of
whether the Administrative Agent, any Lender or any Issuing Lender may have had notice or knowledge of such Default at the time. 
 (b) Amendments. Neither this Agreement nor any provision hereof may be waived, amended or modified except pursuant to an agreement or agreements in writing entered into by the Company and the
Required Lenders or by the Company and the Administrative Agent with the consent of the Required Lenders; provided that no such agreement shall: 
 (i) increase the Commitment of any Lender without the consent of such Lender; 
 (ii) reduce the principal amount of any Loan or LC Disbursement or reduce the rate of interest thereon, or reduce any fees payable hereunder, without the consent of each Lender directly affected thereby;

 (iii) amend Article III without the consent of the Administrative Agent, the Swingline Lender, the
Issuing Lender and the Required Lenders; 
 (iv) postpone the scheduled date of payment of the principal amount
of any Loan or LC Disbursement, or any interest thereon, or any fees payable hereunder, or reduce the amount of, waive or excuse any such payment, or postpone the scheduled date of expiration or reduction of any Commitment, or postpone the ultimate
expiration date of any Letter of Credit beyond any affected Lender’s Commitment Termination Date, without the consent of each Lender directly affected thereby; 

(v) change paragraph (a), (b) or (c) of Section 2.17 in a manner that would alter the pro rata
sharing of payments or prepayments required thereby, without in each case the consent of each Lender affected thereby; 

  
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 (vi) change any of the provisions of this Section 11.02 or the
percentage in the definition of “Required Lenders” without the consent of each Lender or any other provision hereof specifying the number or percentage of Lenders required to waive, amend or modify any rights hereunder or make any
determination or grant any consent hereunder, without the written consent of each affected Lender; or 
 (vii)
except as otherwise expressly provided in this Agreement, release a Significant Subsidiary from its obligations (if any) under Article IV without the consent of each Lender, except in connection with the disposition of all of the Equity
Interests in such Significant Subsidiary to a Person that is not an Affiliate in a transaction permitted hereunder or as to which the Required Lenders have consented (and, in connection with any such disposition, the Administrative Agent is hereby
authorized by all of the Lenders and hereby agrees to execute and deliver, at the request and expense of the Company, any such instruments of release with respect to such Significant Subsidiary as the Company shall reasonably request); 

provided further that no such agreement shall amend, modify or otherwise affect the rights or duties of the Administrative Agent or any
Issuing Lender hereunder without the prior consent of the Administrative Agent or such Issuing Lender, as the case may be. 

For purposes of this Section 11.02, the “scheduled date of payment” of any amount shall refer to the date of
payment of such amount specified in this Agreement, and shall not refer to a date or other event specified for the mandatory or optional prepayment of such amount. In addition, whenever a waiver, amendment or modification requires the consent of a
Lender “directly affected” thereby, such waiver, amendment or modification shall, upon consent of such Lender, become effective as to such Lender whether or not it becomes effective as to any other Lender, so long as the Required Lenders
consent to such waiver, amendment or modification as provided above. 
 (c) Release. At such time as the Commitments have
expired or been terminated and the principal of and interest on each Loan and all fees payable hereunder shall have been paid in full and all Letters of Credit shall have expired or terminated or shall have been Defeased and all LC Disbursements
outstanding at such time shall have been reimbursed, and the other Obligations under the Loan Documents (other than (i) obligations under Sections 2.15, 2.16, 11.03 and 11.04 and Article X that are
not then due and payable and (ii) for the avoidance of doubt obligations under or in respect of Hedging Agreements and Cash Management Obligations) shall have been paid in full in cash, the Guarantees of the Obligors hereunder shall be
automatically released and terminated. In addition, the Guarantee of an Obligor shall be released as contemplated by Section 7.10(c). Without limiting the generality of the foregoing provisions, the Administrative Agent shall, if so
requested by any Obligor at or after such release and termination, execute, deliver and (if necessary) acknowledge such termination statements or releases as may be necessary or reasonably appropriate to confirm, assure or give notice of such
termination, in each case at the expense of such Obligor. Each Lender hereby acknowledges, on behalf of itself, any of its Affiliates and each Eligible Hedging Counterparty and Eligible Cash Manager, that the Administrative Agent shall be authorized
to effect the releases described in this paragraph (c) notwithstanding that the obligations owing to such Lender or Eligible Hedging Counterparty under Hedging Agreements to which they are party, or the Cash Management Obligations owing to such
Eligible Cash Manager, as the case may be, shall not have been paid or terminated. 

  
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 (d) Release of Foreign Subsidiary/Foreign Subsidiary Holding Company Guarantor. In
connection with any Foreign Subsidiary or Foreign Subsidiary Holding Company that is a Guarantor, at such time such Foreign Subsidiary or Foreign Subsidiary Holding Company, as applicable, is no longer a direct subsidiary of any Obligor as a result
of any transaction permitted by this Agreement, the Administrative Agent agrees, at the expense and request of the Company, to release and terminate automatically and irrevocably all Guaranteed Obligations of such Foreign Subsidiary or Foreign
Subsidiary Holding Company, as applicable, as a Guarantor. In that connection, the Administrative Agent shall, if so requested by such Obligor at or after such transaction, execute, deliver and (if necessary) acknowledge such termination statements
or releases as may be necessary or reasonably appropriate to confirm, assure or give notice of such release, in each case at the expense of such Obligor. 
 (e) Technical or Immaterial Errors or Omissions. Notwithstanding anything contained herein to the contrary, if the Administrative Agent and the Company shall have jointly identified (each in its
sole discretion) an obvious error or omission of a technical or immaterial nature, in each case, in any provision of the Loan Documents, then the Administrative Agent and the applicable Obligors shall be permitted to amend such provision and such
amendment shall become effective without any further action or consent of any other party to any Loan Document if the same is not objected to in writing by the Required Lenders within five Business Days following the notification of such amendment
by the Administrative Agent to the Lenders. 
 SECTION 11.03. Expenses; Indemnity; Damage Waiver. 

(a) Expenses. The Obligors jointly and severally agree to pay, or reimburse the Administrative Agent or Lenders for paying,
(i) all reasonable out-of-pocket expenses incurred by the Administrative Agent and its Affiliates, including the reasonable fees, charges and disbursements of Special Counsel, in connection with the syndication of the credit facilities provided
for herein, the preparation of this Agreement and the other Loan Documents or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated),
(ii) all reasonable out-of-pocket expenses incurred by any Issuing Lender in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder, and (iii) all out-of-pocket expenses
incurred by the Administrative Agent, any Issuing Lender or any Lender, including the fees, charges and disbursements of any counsel for such Administrative Agent, Issuing Lender or Lender, in connection with the enforcement or protection of its
rights in connection with this Agreement and the other Loan Documents, including its rights under this Section 11.03, or in connection with the Loans made or Letters of Credit issued hereunder, including in connection with any workout,
restructuring or negotiations in respect thereof. 
 (b) Indemnification by Obligors. The Obligors jointly and severally
agree to indemnify the Administrative Agent, each Issuing Lender and each Lender, and each Related Party of any of the foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless
from, any and all losses (other than loss of profit), claims, 

  
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damages, liabilities and related expenses, including the fees, charges and disbursements of any counsel for any Indemnitee, incurred by or asserted against any Indemnitee arising out of, in
connection with, or as a result of (i) the execution or delivery of this Agreement, the other Loan Documents or any agreement or instrument contemplated hereby, the performance by the parties hereto and thereto of their respective obligations
hereunder or thereunder or the consummation of the Transactions or any other transactions contemplated hereby or thereby, (ii) any Loan or Letter of Credit or the use of the proceeds therefrom (including any refusal by an Issuing Lender to
honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous
Materials on or from any property owned or operated by any Obligor or any of their subsidiaries, or any Environmental Liability related in any way to any Obligor or any of their subsidiaries, or (iv) any actual or prospective claim, litigation,
investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory and regardless of whether any Indemnitee is a party thereto; provided that such indemnity shall not, as to any Indemnitee, be
available to the extent that such losses, claims, damages, liabilities or related expenses are determined by a court of competent jurisdiction by final and nonappealable judgment to have resulted from the gross negligence or willful misconduct of
such Indemnitee. This Section 11.03(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. 

(c) Indemnification by Lenders. To the extent that the Obligors fail to pay any amount required to be paid by them to the
Administrative Agent under paragraph (a) or (b) of this Section 11.03, each Lender severally agrees to pay to the Administrative Agent such Lender’s Applicable Percentage (determined as of the time that the applicable
unreimbursed expense or indemnity payment is sought) of such unpaid amount; provided that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the
Administrative Agent in its capacity as such. 
 To the extent that the Obligors fail to pay any amount required to be paid by
them to an Issuing Lender of any Class under paragraph (a) or (b) of this Section 11.03, each Revolving Credit Lender severally agrees to pay to such Issuing Lender such Lender’s Applicable Percentage (determined as of the
time that the applicable unreimbursed expense or indemnity payment is sought) of such unpaid amount; provided that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by
or asserted against such Issuing Lender in its capacity as such. 
 (d) Waiver of Indirect or Consequential Damages, Etc.
To the extent permitted by applicable law, none of the Obligors shall assert, and each Obligor hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to
direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, the other Loan Documents or any agreement or instrument contemplated hereby or thereby, the Transactions, any Loan or Letter of Credit or the use of the
proceeds thereof. 
 (e) Payment upon Demand. All amounts due under this Section 11.03 shall be payable
promptly after written demand therefor. 

  
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 SECTION 11.04. Taxes. 

(a) Payments Free of Taxes. Any and all payments or prepayments by or on account of any obligation of any Obligor hereunder or
under any other Loan Document shall be made free and clear of and without deduction for any Indemnified Taxes or Other Taxes to the extent permitted by applicable law; provided that if any Obligor or the Administrative Agent shall be required
by applicable law to deduct any Indemnified Taxes or Other Taxes from any such payments or prepayments, then (i) the sum payable shall be increased as necessary so that after making all required deductions (including deductions applicable to
additional sums payable under this Section 11.04) the applicable Recipient receives an amount equal to the sum it would have received had no such deductions been made, (ii) such Obligor or, if the Administrative Agent is the
withholding agent pursuant to applicable law, the Administrative Agent, shall make such deductions and (iii) such Obligor or, if the Administrative Agent is the withholding agent pursuant to applicable law, the Administrative Agent, shall pay
the full amount deducted to the relevant Governmental Authority in accordance with applicable law. 
 (b) Payment of Other
Taxes. In addition, the Obligors shall pay, without duplication, any Other Taxes to the relevant Governmental Authority in accordance with applicable law, except for Other Taxes resulting from an assignment by any Lender pursuant to
Section 11.08 (other than an assignment made as a result of a request by a Borrower pursuant to Section 2.18). 
 (c) Indemnification by Obligors. Each Obligor shall indemnify each Recipient within 20 Business Days after written demand therefor, for the full amount of any Indemnified Taxes or Other Taxes
(including Indemnified Taxes or Other Taxes imposed or asserted on or attributable to amounts payable under this Section 11.04) paid by such Recipient, with respect to any payment by or on account of any obligation of such Obligor
hereunder or under any other Loan Document (including any interest or penalties with respect thereto) whether or not such Indemnified Taxes or Other Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. Each
Recipient agrees to give written notice to the applicable Obligor of the assertion of any claim against such Recipient relating to such Indemnified Taxes or Other Taxes no later than 180 days after such Recipient obtains knowledge thereof;
provided that the failure of any Recipient to notify the applicable Obligor of such assertion within such 180-day period (i) shall not relieve such Obligor of its obligations under this Section 11.04(c) with respect to
Indemnified Taxes, Other Taxes or expenses incurred prior to the end of such period but (ii) shall relieve such Obligor of its obligations under this Section 11.04(c) with respect to penalties, interest or expenses incurred between
the end of such period and such time as such Obligor receives notice of such assertion as provided herein. A certificate as to the amount of such payment or liability delivered to the Company by a Lender or Issuing Lender, or by the Administrative
Agent on its own behalf or on behalf of a Lender or Issuing Lender, shall be conclusive absent manifest error. 
 (d)
Indemnification by Lenders. Each Lender shall indemnify the Administrative Agent within 20 Business Days after written demand therefor, for the full amount of (i) any Indemnified Taxes or Other Taxes (including Indemnified Taxes or Other
Taxes imposed or asserted on or attributable to amounts payable under this Section 11.04) attributable to such Lender (but only to the extent that any Obligor has not already indemnified the

  
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Administrative Agent for such Indemnified Taxes or Other Taxes), (ii) any Taxes attributable to such Lender’s failure to comply with the provisions of Section 11.08(c) and
(iii) any Excluded Taxes attributable to such Lender, in each case that are payable or paid by the Administrative Agent in connection with any Loan Document, and any reasonable expenses arising therefrom or with respect thereto, whether or not
such Indemnified Taxes or Other Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to any Lender by the Administrative Agent shall be
conclusive absent manifest error. Each Lender hereby authorizes the Administrative Agent to set off and apply any and all amounts at any time owing to such Lender under any Loan Document or otherwise payable by the Administrative Agent to the Lender
from any other source against any amount due to the Administrative Agent under this paragraph (d). 
 (e) Evidence of
Payments. As soon as practicable after any payment of Indemnified Taxes or Other Taxes by any Obligor to a Governmental Authority pursuant to this Section 11.04, such Obligor shall deliver to the Administrative Agent the original or
a certified copy of a receipt issued by such Governmental Authority evidencing such payment, a copy of the return reporting such payment or other evidence of such payment reasonably satisfactory to the Administrative Agent. 

(f) Status of Lenders. (i) Any Recipient that is entitled to an exemption from or reduction of withholding Tax with respect
to payments made under any Loan Document shall deliver to the relevant Obligor and the Administrative Agent, at the time or times reasonably requested by an Obligor or the Administrative Agent, such properly completed and executed documentation
reasonably requested by such Obligor or the Administrative Agent as will permit such payments to be made without withholding or at a reduced rate of withholding. In addition, any Recipient, if reasonably requested by the Company or the
Administrative Agent, shall deliver such other documentation prescribed by applicable law or reasonably requested by the Company or the Administrative Agent as will enable the Company or the Administrative Agent to determine whether or not such
Recipient is subject to backup withholding or information reporting requirements. 
 (ii) Without limiting the
generality of the foregoing, 
 (A) any Recipient that is a U.S. Person shall deliver to the Company and the
Administrative Agent on or prior to the date on which such Recipient becomes a Recipient under this Agreement (and from time to time thereafter upon the reasonable request of the Company or the Administrative Agent), a properly completed and
executed original of IRS Form W-9 (or successor form) certifying that such Recipient is exempt from U.S. federal backup withholding tax; 
 (B) each Foreign Lender shall, to the extent it is legally entitled to do so, deliver to the Company and the Administrative Agent, on or prior to the date on which such Foreign Lender becomes a Foreign
Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Company or the Administrative Agent), whichever of the following is applicable: 

(i) in the case of a Foreign Lender 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 Loan Document, properly completed and executed originals of IRS Form W-8BEN (or successor form) 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 Loan Document, properly completed and executed originals of IRS Form W-8BEN (or successor form) 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; 

  
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 (ii) executed originals of IRS Form W-8ECI or W-8EXP (or successor form);

 (iii) in the case of a Foreign Lender claiming the benefits of the exemption for portfolio interest under
Section 881(c) of the Code, (x) a U.S. Tax Compliance Certificate substantially in the form of Exhibit G-1 to the effect that such Foreign Lender is not a “bank” within the meaning of Section 881(c)(3)(A) of the Code, a
“10-percent shareholder” of any Borrower 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 and (y) properly completed and
executed originals of IRS Form W-8BEN (or successor form); or 
 (iv) to the extent a Foreign Lender is not the
beneficial owner of an interest under any Loan Document, properly completed and executed originals of IRS Form W-8IMY (or successor form), accompanied by IRS Form W-8ECI, IRS Form W-8BEN, a U.S. Tax Compliance Certificate substantially in the form
of Exhibit G-2 or Exhibit G-3, IRS Form W-9, and/or other certification documents from each beneficial owner, as applicable; provided that if the Foreign Lender is a partnership for U.S. federal income tax purposes and one or more direct or
indirect partners of such Foreign Lender are claiming the portfolio interest exemption, such Foreign Lender may provide a U.S. Tax Compliance Certificate substantially in the form of Exhibit G-4 on behalf of each such direct and indirect partner;

 (C) any Foreign Lender shall, to the extent it is legally entitled to do so, deliver to the Company and the
Administrative Agent on or prior to the date on which such Foreign Lender becomes a Foreign Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Company or the Administrative Agent), a properly completed
and executed original of any other form prescribed by applicable law as a basis for claiming exemption from or a reduction in U.S. federal withholding Tax, together with such supplementary documentation as may be prescribed by applicable law to
permit the Company or the Administrative Agent to determine the withholding or deduction required to be made; and 

  
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 (D) if a payment made to a Recipient under any Loan Document would be
subject to U.S. federal withholding Tax imposed by FATCA if such Recipient were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as applicable), such
Recipient shall deliver to the Company and the Administrative Agent at the time or times prescribed by law and at such time or times reasonably requested by the Company or the Administrative Agent such documentation prescribed by applicable law
(including as prescribed by Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably requested by the Company or the Administrative Agent as may be necessary for the Company and the Administrative Agent to comply with
their obligations under FATCA and to determine that such Recipient has complied with such Recipient’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. 
 (iii) BNP Paribas, as the
Administrative Agent, and any successor or supplemental Administrative Agent that is not a U.S. Person, shall deliver to the Company, on or prior to the date it becomes a party to this Agreement, a properly completed and executed copy of IRS Form
W-8IMY, with the effect that the Borrowers can make payments to the Administrative Agent without deduction or withholding of any Taxes imposed by the United States. 
 Each Recipient 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
Company and the Administrative Agent in writing of its legal inability to do so. 
 (g) Treatment of Certain Refunds. If
any Recipient determines, in its sole discretion exercised in good faith, that it has received a refund (including any credit in lieu of a refund) of any Indemnified Taxes or Other Taxes as to which it has been indemnified by any Obligor or with
respect to which an Obligor has paid additional amounts pursuant to this Section 11.04, it shall pay to such Obligor an amount equal to such refund (but only to the extent of indemnity payments made, or additional amounts paid, by such
Obligor under this Section 11.04 with respect to the Indemnified Taxes or Other Taxes giving rise to such refund), net of all reasonable out-of-pocket expenses of such Recipient as reasonably determined in the Recipient’s reasonable
discretion and without interest (other than any interest paid by the relevant Governmental Authority with respect to such refund), provided that such Obligor, upon the request of such Recipient, agrees to repay the amount paid over to such
Obligor (plus any penalties, interest or other charges imposed by the relevant Governmental Authority) to such Recipient in the event such Recipient is required to repay such refund to such Governmental Authority. This subsection shall not be
construed to require any Recipient to make available its tax returns or its books or records (or any other information relating to its taxes that it deems confidential) to any Obligor or any other Person. Nothing in this paragraph (g) is
intended to, nor shall anything in this paragraph (g) be construed to, require the Administrative Agent or any Lender to alter or supplement any policy, procedure or system with respect to the identification, tracking and allocation of tax
refunds and neither the Administrative Agent nor any Lender shall have any liability to any Obligor by reason of its non-identification of any such refund. 

  
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 (h) Survival. Each party’s obligations under this Section 11.04
shall survive the resignation, retirement, removal or replacement of the Administrative Agent or any assignment of rights by, or the replacement of, a Lender, the termination of the Commitments and the repayment, satisfaction or discharge of all
obligations under any Loan Document. 
 SECTION 11.05. Payments; Currency. 

(a) Payments Generally. Each Borrower shall make each payment and prepayment required to be made by it hereunder (whether of
principal, interest, fees or reimbursement of LC Disbursements, or under Section 2.15, 2.16, or 11.04, or otherwise) or under any other Loan Document (except to the extent otherwise provided therein) prior to
2:00 p.m., New York City time, on the date when due, in immediately available funds, without set-off or counterclaim. Any amounts received after such time on any date may, in the discretion of the Administrative Agent, be deemed to have been
received on the next succeeding Business Day for purposes of calculating interest thereon. All such payments and prepayments shall be made to the Administrative Agent to the Administrative Agent’s Account, except as otherwise expressly provided
in the relevant Loan Document and except payments to be made directly to an Issuing Lender or the Swingline Lender as expressly provided herein and payments pursuant to Sections 2.15, 2.16, 11.03 and 11.04, which
shall be made directly to the Persons entitled thereto. If any payment or prepayment hereunder shall be due on a day that is not a Business Day, the date for payment or prepayment, as the case may be, shall be extended to the next succeeding
Business Day and, in the case of any payment or prepayment accruing interest, interest thereon shall be payable for the period of such extension. 
 The Administrative Agent shall distribute any payments received by it for account of any other Person to the appropriate recipient promptly following receipt thereof, provided that any such payment
received by it upon the exercise of remedies hereunder or under the other Loan Documents shall be applied to the Obligations hereunder in the following order: 
 first, to the payment of the costs and expenses of collecting such payments, including reasonable out-of-pocket costs and expenses of the Administrative Agent, and the fees and expenses of its
agents and counsel, in each case in such order as the Administrative Agent shall in its sole discretion determine; 
 second, to the payment of the Obligations (including cover for Letters of Credit outstanding hereunder), in each case ratably in accordance with the respective amounts thereof (except that the
portion, if any, of LC Disbursements made by the respective Issuing Lenders in excess of the amount thereof that the Revolving Credit Lenders are required to pay to the Issuing Lenders under Section 2.05(e) in respect of drawings on
Letters of Credit shall be paid in full prior to the payment of any other Obligations); and 
 third,
after payment in full of the Obligations, to the payment to the Obligors as specified by the Company to the Administrative Agent. 
 (b) Currency of Payment. All amounts owing under this Agreement or under any other Loan Document (except to the extent, if any, otherwise provided therein) are payable in Dollars. 

  
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 SECTION 11.06. Mitigation Obligations. If any Lender requests compensation under
Section 2.15, or if any Borrower is required to pay any additional amount to any Lender or any Governmental Authority for account of any Lender pursuant to Section 11.04, then such Lender shall use reasonable efforts to
designate a different lending office for funding or booking its Loans hereunder or to assign its rights and obligations, hereunder to another of its offices, branches or affiliates, if, in the judgment of such Lender, such designation or assignment
(i) would eliminate or reduce amounts payable pursuant to Section 2.15 or 11.04, as the case may be, in the future and (ii) would not subject such Lender to any unreimbursed cost or expense and would not otherwise be
disadvantageous to such Lender. Each Borrower hereby agrees to pay all reasonable costs and expenses incurred by any Lender in connection with any such designation or assignment. 

SECTION 11.07. Reallocation of Exposures. On the date of occurrence of any Event of Default described in paragraph (h) or
(i) of Article IX with respect to the Parent, FWL, Holdco, any Borrower or any Obligor constituting a Significant Subsidiary, the Administrative Agent shall calculate the amount of the Section 11.07 Exposure (as defined below)
of each Revolving Credit Lender and each Incremental Lender of each Series on such date (the “Calculation Date”), and the percentage that each such amount represents of the aggregate amount of the Section 11.07 Exposures of all
of the Lenders on the Calculation Date (such percentage being referred to herein as the “Credit Percentage” for the Lender holding such amount). 
 Upon each date on or after the Calculation Date upon which any of the events described below shall occur, the Lenders shall take the actions described below in this Section 11.07 with the
objective of ensuring that any reductions in Section 11.07 Exposure after the Calculation Date are shared ratably among the Lenders in accordance with their respective Credit Percentages: 

(a) in the case of a payment (including by way of offset or counterclaim or otherwise) of any principal of any Revolving
Credit Loan or Incremental Loan of any Series, or any payment to any Lender in respect of an LC Disbursement under a Letter of Credit following a drawing thereunder, each Lender receiving any such payment in an amount greater than its Credit
Percentage of the aggregate remaining Section 11.07 Exposure of all of the Lenders shall purchase participations in the Section 11.07 Exposure of each of the other Lenders in such amounts as shall be necessary so that the benefit of such
payment is shared by the Lenders ratably in accordance with their respective Credit Percentages; 
 (b) in the
case of a payment (including by way of offset or counterclaim or otherwise) of any interest or fees owing under this Agreement as of the Calculation Date, each Lender receiving any such payment in an amount greater than its Credit Percentage of the
aggregate remaining Section 11.07 Exposure of all of the Lenders shall purchase participations in the Section 11.07 Exposure of each of the other Lenders in such amounts as shall be necessary so that the benefit of such payment is shared
by the Lenders ratably in accordance with their respective Credit Percentages (it being understood that payment made in respect of interest and fees accruing under this Agreement after the Calculation Date shall not be subject to this
Section 11.07); and 

  
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 (c) in the case of a termination or expiration of a Letter of Credit without
any drawing thereunder, each Lender receiving a reduction in its Section 11.07 Exposure as a result thereof in an amount greater than its Credit Percentage of the aggregate remaining Section 11.07 Exposure of all of the Lenders shall
purchase participations in the Section 11.07 Exposure of each of the other Lenders in such amounts as shall be necessary so that the benefit of such reduction is shared by the Lenders ratably in accordance with their respective Credit
Percentages. 
 Any purchase of a participation in the principal of a Loan, or any interest or fees, shall be effected by the
purchaser paying to the seller of the participation an amount in cash (at full face value) equal to the amount of such participation. Any purchase of a participation in a Letter of Credit shall be effected by the purchaser depositing the cash amount
of the participation to be purchased with the respective Issuing Lender of such Letter of Credit, such cash to be held by such Issuing Lender as collateral security for the obligation of the purchaser of such participation to fund its obligation to
pay for such participation upon any drawing under such Letter of Credit, provided that if such Letter of Credit shall expire or be terminated without being drawn, the amount so deposited shall be reallocated to the extent necessary in
accordance with the foregoing provisions of this Section 11.07. Any participation in a Letter of Credit shall be effected without any requirement of any additional execution or delivery of any documents. 

The Administrative Agent is hereby authorized and directed by each of the Lenders to effect the participations described in the preceding
paragraph for their account, and to maintain appropriate records thereof on the Register, without any requirement that payments be formally remitted to the Lenders prior to the effectuation of such participations. 

For purposes hereof, “Section 11.07 Exposure” means, as at any date, (a) in respect of any Revolving Credit
Lender, the sum of the outstanding principal of such Lender’s Syndicated Revolving Credit Loans, its LC Exposure (without deducting the balance, if any, in the Letter of Credit Collateral Account under and as defined in
Section 2.05(k)) and Swingline Exposure on such date together with all accrued interest and fees in respect thereof on such date and (b) in respect of any Incremental Lender of any Series, the sum of the outstanding principal of
such Lender’s Incremental Loans of such Series on such date, together with all accrued interest in respect thereof on such date together with all accrued interest and fees in respect thereof on such date. 

Each Obligor consents to the foregoing and agrees, to the extent it may effectively do so under applicable law, that any Lender acquiring
a participation pursuant to the foregoing arrangements may exercise against such Obligor rights of set-off and counterclaim with respect to such participation as fully as if such Lender were a direct creditor of such Obligor in the amount of such
participation. 
 SECTION 11.08. Successors and Assigns. 

(a) Successors Generally. The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto
and their respective successors and assigns permitted hereby (including any Affiliate of an Issuing Lender that issues any Letter of Credit), except that (i) no Borrower may assign or otherwise transfer any of its rights or obligations

  
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hereunder without the prior consent of each Lender (and any attempted assignment or transfer by any Borrower without such consent shall be null and void) and (ii) no Lender may assign or
otherwise transfer its rights or obligations hereunder except in accordance with this Section 11.08. Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their
respective successors and assigns permitted hereby (including any Affiliate of an Issuing Lender that issues any Letter of Credit), Participants (to the extent provided in paragraph (c) of this Section 11.08) and, to the extent
expressly contemplated hereby, the Related Parties of each of the Administrative Agent, the Issuing Lenders and the Lenders) any legal or equitable right, remedy or claim under or by reason of this Agreement. 

(b) Assignments by Lenders. 
 (i) Assignments Generally. Subject to the conditions set forth in paragraph (b)(ii) below, any Lender may assign to one or more assignees all or a portion of its rights and obligations under
this Agreement (including all or a portion of its Commitment and the Loans at the time held by it) with the prior written consent (such consent not to be unreasonably withheld) of: 

(A) the Company, provided that no consent of the Company shall be required for an assignment to a Lender, an
Affiliate of a Lender, an Approved Fund or, if an Event of Default has occurred and is continuing, any other assignee; provided further, that the Company shall be deemed to consent to any such assignment unless it shall have objected
thereto by written notice to the Administrative Agent within ten Business Days after having received notice thereof; 
 (B) the Administrative Agent, provided that no consent of the Administrative Agent shall be required for an assignment to a Lender, an Affiliate of a Lender or an Approved Fund; and 

(C) in the case of any assignment of the Revolving Credit Commitments, the Swingline Lender and each Issuing Lender.

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

 (A) except in the case of an assignment to a Lender or an Affiliate (or Approved Fund) of a Lender or an
assignment of the entire remaining amount of the assigning Lender’s Revolving Credit or Incremental Loan Commitment or Loans of any Class, the amount of the Commitment or Loans of the assigning Lender subject to each such assignment (determined
as of the date the Assignment and Assumption with respect to such assignment is delivered to the Administrative Agent) shall not be less than $2,500,000 unless each of the Company and the Administrative Agent otherwise consent, provided that
(x) no such consent of the Company shall be required if an Event of Default has occurred and is continuing and (y) in determining the amount of any assignment, simultaneous assignments to or from two or more affiliated Approved Funds shall
be aggregated); 

  
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 (B) each partial assignment of any Revolving Credit or Incremental Loan
Commitment or Revolving Credit or Incremental Loans shall be made as an assignment of a proportionate part of all the assigning Lender’s rights and obligations under this Agreement in respect of such Revolving Credit or Incremental Loan
Commitment and Loans, as applicable, provided that this clause shall not be construed to prohibit the assignment of a proportionate part of all the assigning Lender’s rights and obligations in respect of one Class of Revolving Credit or
Incremental Loan Commitments or Revolving Credit or Incremental Loans, 
 (C) the parties to each assignment
shall execute and deliver to the Administrative Agent an Assignment and Assumption, together with a processing and recordation fee of $3,500, provided that (I) simultaneous assignments to or from two or more affiliated Approved Funds
shall be treated as a single assignment for purposes of such fee and (II) such fee may be waived by the Administrative Agent in its sole discretion, 
 (D) the assignee, if not already a Lender, shall deliver to the Administrative Agent an Administrative Questionnaire and any applicable tax forms as may be required pursuant to Section 11.04,
and 
 (E) no such assignment shall be made to (x) any Borrower or any Affiliate or Subsidiary of any
Borrower, (y) to any Defaulting Lender or any of its Subsidiaries, or any Person who, upon becoming a Lender hereunder, would constitute any of the foregoing Persons described in this clause (y) or (z) a natural Person. 

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

 (iv) Effectiveness of Assignments. Subject to acceptance and recording thereof pursuant to paragraph (b)(vi) of
this Section 11.08, from and after the effective date specified in each Assignment and Assumption, the assignee thereunder shall be a party hereto 

  
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and, to the extent of the interest assigned by such Assignment and Assumption, have the rights and obligations of a Lender under this Agreement in addition to any rights and obligations
theretofore held by it as a Lender, and the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its obligations under this Agreement (and, in the case of an Assignment and
Assumption covering all of the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto but shall continue to be entitled to the benefits of Sections 2.15, 2.16,
11.03 and 11.04, as applicable), provided, that except to the extent otherwise expressly agreed by the affected parties, no assignment by a Defaulting Lender will constitute a waiver or release of any claim of any party
hereunder arising from that Lender’s having been a Defaulting Lender. Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this paragraph (b) shall be treated for purposes of this
Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with paragraph (c) of this Section 11.08. 
 (v) Maintenance of Register. The Administrative Agent, acting for this purpose as an agent of the Borrowers, shall maintain at one of its offices a copy of each Assignment and Assumption delivered
to it and a register for the recordation of the names and addresses of the Lenders, and the Revolving Credit and Incremental Loan Commitments of each Class and principal amount of Loans and LC Disbursements owing to, each Lender pursuant to the
terms hereof from time to time (the “Register”). The entries in the Register shall be conclusive absent manifest error, and the Company, the Administrative Agent, the Issuing Lenders and the Lenders shall treat each Person whose
name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. The Register shall be available for inspection by any Borrower or any Issuing Lender, at
any reasonable time and from time to time upon reasonable prior notice. Any Lender shall be entitled to obtain confirmation from the Administrative Agent of the entries in the Register with respect to such Lender for purposes of verifying the amount
of its Revolving Credit Commitments and Incremental Loan Commitments recorded in the Register. 
 (vi) Acceptance of
Assignments by Administrative Agent. Upon its receipt of a duly completed Assignment and Assumption executed by an assigning Lender and an assignee, the assignee’s completed Administrative Questionnaire (unless the assignee shall already be
a Lender hereunder), applicable tax forms, if any (unless the assignee shall already be a Lender hereunder), the processing and recordation fee referred to in paragraph (b)(ii)(C) of this Section 11.08 and any written consent to
such assignment required by paragraph (b)(i) of this Section 11.08, the Administrative Agent shall accept such Assignment and Assumption and record the information contained therein in the Register. No assignment shall be effective
for purposes of this Agreement unless it has been recorded in the Register as provided in this paragraph. 
 (c)
Participations. 
 (i) Participations Generally. Any Lender may, without the consent of the Company, the
Administrative Agent, the Swingline Lender or any Issuing Lender, sell participations to one or more banks or other entities (a “Participant”) in all or a portion of such Lender’s rights and obligations under this Agreement
(including all or a portion of the Commitments and Loans held by it); provided that (A) such Lender’s obligations under this 

  
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Agreement shall remain unchanged, (B) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations and (C) the Company, the
Administrative Agent, the Issuing Lenders and the other Lenders shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under this Agreement. Any agreement or instrument pursuant to
which a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; provided that such
agreement or instrument may provide that such Lender will not, without the consent of the Participant, agree to any amendment, modification or waiver described in the first proviso to Section 11.02(b) that affects such Participant.
Subject to paragraph (c)(ii) of this Section 11.08, the Company agrees that each Participant shall be entitled to the benefits of Sections 2.15, 2.16, 11.03 and 11.04, as applicable, to the same
extent as if it were a Lender and had acquired its interest by assignment pursuant to paragraph (b) of this Section 11.08; provided that each such Participant agrees to be subject to Section 2.18 as if it were a Lender.
To the extent permitted by law, each Participant also shall be entitled to the benefits of Section 11.12 as though it were a Lender, provided that such Participant agrees to be subject to Section 2.17(c) as though it
were a Lender. Each Lender that sells a participation shall, acting solely for this purpose as an agent of the Borrowers, maintain a register on which it enters the name and address of each Participant and the principal amounts (and stated interest)
of each Participant’s interest in the loans or other obligations under the Loan Documents (the “Participant Register”); provided that no Lender shall have any obligation to disclose all or any portion of the Participant
Register (including the identity of any Participant or any information relating to a Participant’s interest in any commitments, loans, letters of credit or its other obligations under any Loan Document) to any Person except to the extent that
such disclosure is necessary to establish that such commitment, loan, letter of credit or other obligation is in registered form under Section 5f.103-1(c) of the United States Treasury Regulations. The entries in the Participant Register shall
be conclusive absent manifest error, and such Lender shall treat each Person whose name is recorded in the Participant Register as the owner of such participation for all purposes of this Agreement notwithstanding any notice to the contrary.

 (ii) Limitations on Rights of Participants. A Participant shall not be entitled to receive any greater payment under
Section 2.15 or 11.04 than the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant, unless the sale of the participation to such Participant is made with the
Company’s prior written consent. A Participant shall not be entitled to the benefits of Section 11.04 unless the Company is notified of the participation sold to such Participant and such Participant agrees, for the benefit of the
Company, to comply with Section 11.04(f) as though it were a Lender. 
 (d) Certain Pledges. Any Lender may
at any time pledge or assign a security interest in all or any portion of its rights under this Agreement to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank, and this
Section 11.08 shall not apply to any such pledge or assignment of a security interest; provided that no such pledge or assignment of a security interest shall release a Lender from any of its obligations hereunder or substitute
any such pledgee or assignee for such Lender as a party hereto. 

  
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 SECTION 11.09. Survival. All covenants, agreements, representations and warranties
made by the Obligors herein and in the other Loan Documents, and in the certificates or other instruments delivered in connection with or pursuant to this Agreement and the other Loan Documents, shall be considered to have been relied upon by the
other parties hereto and shall survive the execution and delivery of this Agreement and the other Loan Documents and the making of any Loans and issuance of any Letters of Credit, regardless of any investigation made by any such other party or on
its behalf and notwithstanding that the Administrative Agent, any Issuing Lender or any Lender may have had notice or knowledge of any Default or incorrect representation or warranty at the time any credit is extended hereunder, and shall continue
in full force and effect so long as the principal of or any accrued interest on any Loan or any fee or any other amount payable under this Agreement or the other Loan Documents is outstanding and unpaid or any Letter of Credit is outstanding and so
long as the Commitments have not expired or terminated. The provisions of Sections 2.15, 2.16, 11.03 and 11.04 and Article X shall survive and remain in full force and effect regardless of the
consummation of the transactions contemplated hereby, the repayment of the Loans, the expiration or termination of the Letters of Credit, or the termination of this Agreement or any other Loan Document or any provision hereof or thereof. 

SECTION 11.10. Counterparts; Integration; Effectiveness. This Agreement may be executed in counterparts (and by different parties
hereto on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This Agreement and any separate letter agreements with respect to fees payable to the
Administrative Agent constitute the entire contract among the parties relating to the subject matter hereof and supersede any and all previous agreements and understandings, oral or written, relating to the subject matter hereof. Except as provided
in Section 6.01, this Agreement shall become effective when it shall have been executed by the Administrative Agent and when the Administrative Agent shall have received counterparts hereof which, when taken together, bear the signatures
of each of the other parties hereto, and thereafter shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns. Delivery of an executed counterpart of a signature page of this Agreement by
telecopy shall be effective as delivery of a manually executed counterpart of this Agreement. 
 SECTION 11.11.
Severability. Any provision of this Agreement held to be invalid, illegal or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting
the validity, legality and enforceability of the remaining provisions hereof; and the invalidity of a particular provision in a particular jurisdiction shall not invalidate such provision in any other jurisdiction. 

SECTION 11.12. Right of Setoff. If an Event of Default shall have occurred and be continuing, each Lender is hereby authorized at
any time and from time to time, to the fullest extent permitted by law, to set off and apply any and all deposits (general or special, time or demand, provisional or final) at any time held and other Indebtedness at any time owing by such Lender or
any branch, agency or Affiliate thereof to or for the credit or the account of any Obligor against any of and all the obligations of any Obligor now or hereafter existing under this Agreement, irrespective of whether or not such Lender shall have
made any demand under this Agreement and although such obligations may be unmatured; provided that in the event that any Defaulting Lender shall exercise any such right of setoff, (i) all amounts so set off shall be paid 

  
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over immediately to the Administrative Agent for further application in accordance with the provisions of Article III and, pending such payment, shall be segregated by such Defaulting
Lender from its other funds and deemed held in trust for the benefit of the Administrative Agent, the Issuing Lenders, and the Lenders, and (ii) the Defaulting Lender shall provide promptly to the Administrative Agent a statement describing in
reasonable detail the Obligations owing to such Defaulting Lender as to which it exercised such right of setoff. The rights of each Lender, each Issuing Lender and their respective Affiliates under this Section 11.12 are in addition to
other rights and remedies (including other rights of setoff) that such Lender, such Issuing Lender or their respective Affiliates may have. Each Lender exercising any such right of set off shall promptly provide notice thereof to the Company and the
Administrative Agent (it being understood that failure to deliver such notice shall not affect the validity of such set off). 

SECTION 11.13. Governing Law; Jurisdiction; Consent to Service of Process. 

(a) Governing Law. This Agreement shall be construed in accordance with and governed by the law of the State of New York.

 (b) Submission to Jurisdiction. Each of the parties hereto hereby irrevocably and unconditionally submits, for itself
and its property, to the nonexclusive jurisdiction of the Supreme Court of the State of New York sitting in New York County and of the United States District Court of the Southern District of New York, and any appellate court from any thereof, in
any action or proceeding arising out of or relating to this Agreement or any of the other Loan Documents, or for recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably and unconditionally agrees that all claims
in respect of any such action or proceeding may be heard and determined in any such New York State court or, to the extent permitted by law, in any such federal court. Each of the parties hereto agrees that a final judgment in any such action or
proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in this Agreement shall affect any right that any party may otherwise have to bring any action or
proceeding relating to this Agreement or the Notes, if any, in the courts of any jurisdiction. 
 (c) Waiver of Venue,
Etc. Each of the parties hereto irrevocably and unconditionally waives, to the fullest extent it may legally and effectively do so, any objection that it may now or hereafter have to the laying of venue of any suit, action or proceeding arising
out of or relating to this Agreement or any other Loan Document in any New York State or federal court. Each of the parties hereto irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of
such action or proceeding in any such court. Each of the parties hereto agrees that a final judgment in any such action, suit or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or any other manner
provided by law. 
 (d) Process Agent. Each party to this Agreement irrevocably consents to service of process in the
manner provided for notices in Section 11.01. In addition, each Obligor not organized in the United States of America or a State thereof (each such Obligor being herein called a “Foreign Obligor”) hereby irrevocably
appoints CT Corporation System (the “Process Agent”) with an office on the date hereof at 111 Eighth Avenue, 13th Floor, New York, New York 10011, United States, as its agent to receive on behalf of such Obligor
and its property 

  
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service of copies of the summons and complaint and any other process which may be served in any such action or proceeding. Such service may be made by mailing or delivering a copy of such process
to such Obligor in care of the Process Agent at the Process Agent’s above address, and such Obligor hereby irrevocably authorizes and directs the Process Agent to accept such service on its behalf. As an alternative method of service, each
Obligor also irrevocably consents to the service of any and all process in any such action or proceeding by the mailing of copies of such process to such Obligor at its address specified in Section 11.01 (such service to be effective
seven days after mailing thereof). Each Foreign Obligor covenants and agrees that it shall take any and all reasonable action, including the execution and filing of any and all documents, that may be necessary to continue the designation of the
Process Agent above in full force and effect, and to cause the Process Agent to continue to act as such. 
 (e) Other
Process. Nothing in this Section 11.13 shall affect the right of any Lender or the Administrative Agent to serve legal process in any other manner permitted by applicable law or affect the right of any Lender or the Administrative
Agent to bring any suit, action or proceeding against each Obligor or its property in the courts of other jurisdictions. 

SECTION 11.14. WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT
IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO
(A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT
IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 11.14. 
 SECTION 11.15. Judgment Currency. This is an international loan transaction in which the specification of Dollars or a Foreign Currency, as the case may be (the “Specified
Currency”), and payment in New York City or the city specified by the Administrative Agent for the payment of such Foreign Currency, as the case may be (the “Specified Place”), is of the essence, and the Specified Currency
shall be the currency of account in all events relating to Loans or other obligations denominated in the Specified Currency. The payment obligations of any Obligor under this Agreement shall not be discharged or satisfied by an amount paid in
another currency or in another place, whether pursuant to a judgment or otherwise, to the extent that the amount so paid on conversion to the Specified Currency and transfer to the Specified Place under normal banking procedures does not yield the
amount of the Specified Currency at the Specified Place due hereunder. If for the purpose of obtaining judgment in any court it is necessary to convert a sum due hereunder in the Specified Currency into another currency (the “Second
Currency”), the rate of exchange that shall be applied shall be the rate at which in accordance with normal banking procedures the Administrative Agent could purchase the Specified Currency with the Second Currency on the Business Day next
preceding the day on which such judgment is rendered. 

  
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 The obligation of any Obligor in respect of any such sum due from it to the Administrative
Agent or any Lender hereunder (in this Section 11.15 called an “Entitled Person”) shall, notwithstanding the rate of exchange actually applied in rendering such judgment, be discharged only to the extent that on the
Business Day following receipt by such Entitled Person of any sum adjudged to be due hereunder in the Second Currency such Entitled Person may in accordance with normal banking procedures purchase and transfer to the Specified Place the Specified
Currency with the amount of the Second Currency so adjudged to be due; and such Obligor hereby, as a separate obligation and notwithstanding any such judgment, agrees to indemnify such Entitled Person against, and to pay such Entitled Person on
demand, in the Specified Currency, the amount (if any) by which the sum originally due to such Entitled Person in the Specified Currency hereunder exceeds the amount of the Specified Currency so purchased and transferred. 

SECTION 11.16. No Immunity. To the extent that any Obligor organized outside the United States of America may be or become
entitled, in any jurisdiction in which judicial proceedings may at any time be commenced with respect to this Agreement or the other Loan Documents, to claim for itself or its properties or revenues any immunity from suit, court jurisdiction,
attachment prior to judgment, attachment in aid of execution of a judgment, execution of a judgment or from any other legal process or remedy relating to its obligations under this Agreement or the other Loan Documents, and to the extent that in any
such jurisdiction there may be attributed such an immunity (whether or not claimed), such Obligor hereby irrevocably agrees not to claim and hereby irrevocably waives such immunity to the fullest extent permitted by the laws of such jurisdiction.

 SECTION 11.17. Treatment of Certain Information; Confidentiality. Each of the Administrative Agent, the Lenders and
the Issuing Lenders agrees to maintain the confidentiality of the Information (as defined below), except that Information may be disclosed (a) to its Affiliates and to its and its Affiliates’ respective partners, directors, officers,
employees, agents, advisors and other representatives (it being understood that the Persons to whom such disclosure is made will be informed of the confidential nature of such Information and instructed to keep such Information confidential),
(b) to the extent requested by any regulatory authority purporting to have jurisdiction over it (including any self-regulatory authority, such as the National Association of Insurance Commissioners), (c) to the extent required by
applicable laws or regulations or by any subpoena or similar legal process; provided that unless prohibited by law or by the rules governing the process requiring such disclosure, (i) it will promptly notify the Company of the existence,
terms and circumstances surrounding such requirement, (ii) it will consult with the Company on the advisability of taking legally available steps to resist or narrow such requirement, and (iii) it will identify to the Company any such
Information which is legally required to be disclosed and will exercise commercially reasonable efforts to obtain an order or other reliable assurance, at the Company’s expense, that confidential treatment will be accorded to such information,
(d) to any other party hereto, (e) in connection with the exercise of any remedies hereunder or under any other Loan Document or any action or proceeding relating to this Agreement or any other Loan Document or the enforcement of rights
hereunder or thereunder, (f) subject to an agreement containing provisions substantially the same as those of this Section 11.17, to (i) any assignee of or Participant in, or any prospective assignee of or Participant in, any
of its rights or obligations under this Agreement or (ii) any actual or prospective counterparty (or its advisors) to any swap or derivative transaction relating to any 

  
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Obligor and its obligations, (g) with the consent of the Company or (h) to the extent such Information (x) becomes publicly available other than as a result of a breach of this
Section 11.17 or (y) becomes available to the Administrative Agent, any Lender, any Issuing Lender or any of their respective Affiliates on a nonconfidential basis from a source other than the Parent or any of its Subsidiaries. For
the avoidance of doubt, if and to the extent Information may be disclosed according to this Section 11.17, the respective disclosing party is also released from banking secrecy, if applicable. 

For purposes of this Section 11.17, “Information” means all information received from the Parent or any of
its Subsidiaries relating to the Parent or any of its Subsidiaries or any of their respective businesses, other than any such information that is available to the Administrative Agent, any Lender or any Issuing Lender on a nonconfidential basis
prior to disclosure by the Parent or any of its Subsidiaries, provided that in the case of information received from the Parent or any of its Subsidiaries after the date hereof, such information is clearly identified at the time of delivery
as confidential. Any Person required to maintain the confidentiality of Information as provided in this Section 11.17 shall be considered to have complied with its obligation to do so if such Person has exercised the same degree of care
to maintain the confidentiality of such Information as such Person would accord to its own confidential information. 
 SECTION
11.18. Headings. Article and Section headings and the Table of Contents used herein are for convenience of reference only, are not part of this Agreement and shall not affect the construction of, or be taken into consideration in
interpreting, this Agreement. 
 SECTION 11.19. USA PATRIOT Act. Each Lender hereby notifies the Borrowers that pursuant
to the requirements of the USA PATRIOT Act (Title III of Pub. L. 107 56 (signed into law October 26, 2001)) or other comparable domestic or foreign legislation applicable to the Loans, such Lender may be required to obtain, verify and record
information that identifies the Borrowers, which information includes the name and address of the Borrowers and other information that will allow such Lender to identify the Borrowers in accordance with said Act or legislation. 

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

 

									
			
	FOSTER WHEELER LLC	 		 	FOSTER WHEELER INC.
					
	By:	 	 /s/ Kevin C. Hagan
	 		 	By:	 	 /s/ Kevin C. Hagan

		 	Name: Kevin C. Hagan	 		 		 	Name: Kevin C. Hagan
		 	Title: Vice President & Assistant Treasurer	 		 		 	Title: Vice President & Treasurer
			
	FOSTER WHEELER USA CORPORATION	 		 	FOSTER WHEELER NORTH AMERICA CORP.
					
	By:	 	 /s/ Kevin C. Hagan
	 		 	By:	 	 /s/ Kevin C. Hagan

		 	Name: Kevin C. Hagan	 		 		 	Name: Kevin C. Hagan
		 	Title: Treasurer	 		 		 	Title: Vice President & Treasurer
			
	FOSTER WHEELER ENERGY CORPORATION	 		 	FOSTER WHEELER INTERNATIONAL CORPORATION
					
	By:	 	 /s/ Kevin C. Hagan
	 		 	By:	 	 /s/ Kevin C. Hagan

		 	Name: Kevin C. Hagan	 		 		 	Name: Kevin C. Hagan
		 	Title: Vice President & Treasurer	 		 		 	Title: Vice President & Treasurer
			
	FWL	 		 	THE PARENT
			
	FOSTER WHEELER LTD.	 		 	FOSTER WHEELER AG
					
	By:	 	 /s/ Kevin C. Hagan
	 		 	By:	 	 /s/ Franco Baseotto

		 	Name: Kevin C. Hagan	 		 		 	Name: Franco Baseotto
		 	Title: Treasurer	 		 		 	Title: Executive Vice President, Chief Financial Officer & Treasurer

 HOLDCO 

 

					
	FOSTER WHEELER HOLDINGS LTD.
		
	By:	 	 /s/ Kevin C. Hagan

		 	Name: Kevin C. Hagan
		 	Title: Treasurer

 SUBSIDIARY GUARANTORS 

 

									
	FOSTER WHEELER ASIA LIMITED	 		 	FOSTER WHEELER ENERGY MANUFACTURING, INC.
					
	By:	 	 /s/ Kevin C. Hagan
	 		 	By:	 	 /s/ Kevin C. Hagan

		 	Name: Kevin C. Hagan	 		 		 	Name: Kevin C. Hagan
		 	Title: Vice President & Treasurer	 		 		 	Title: Vice President & Treasurer
			
	FOSTER WHEELER CONSTRUCTORS, INC.	 		 	FOSTER WHEELER DEVELOPMENT CORPORATION
					
	By:	 	 /s/ Kevin C. Hagan
	 		 	By:	 	 /s/ Kevin C. Hagan

		 	Name: Kevin C. Hagan	 		 		 	Name: Kevin C. Hagan
		 	Title: Vice President & Treasurer	 		 		 	Title: Vice President & Treasurer
			
	FOSTER WHEELER ENERGY SERVICES, INC.	 		 	FW EUROPEAN E & C LTD.
					
	By:	 	 /s/ Kevin C. Hagan
	 		 	By:	 	 /s/ Kevin C. Hagan

		 	Name: Kevin C. Hagan	 		 		 	Name: Kevin C. Hagan
		 	Title: Vice President & Treasurer	 		 		 	Title: Treasurer

 SUBSIDIARY GUARANTORS 

 

									
	PROCESS CONSULTANTS, INC.	 		 	PYROPOWER OPERATING SERVICES COMPANY, INC.
					
	By:	 	 /s/ Kevin C. Hagan
	 		 	By:	 	 /s/ Kevin C. Hagan

		 	Name: Kevin C. Hagan	 		 		 	Name: Kevin C. Hagan
		 	Title: Treasurer	 		 		 	Title: Vice President & Treasurer
			
	FOSTER WHEELER INTERCONTINENTAL CORPORATION	 		 	FOSTER WHEELER FACILITIES MANAGEMENT, INC.
					
	By:	 	 /s/ Kevin C. Hagan
	 		 	By:	 	 /s/ Kevin C. Hagan

		 	Name: Kevin C. Hagan	 		 		 	Name: Kevin C. Hagan
		 	Title: Treasurer	 		 		 	Title: Vice President & Treasurer
			
	FOSTER WHEELER POWER SYSTEMS, INC.	 		 	FOSTER WHEELER INTERNATIONAL HOLDINGS, INC.
					
	By:	 	 /s/ Kevin C. Hagan
	 		 	By:	 	 /s/ Kevin C. Hagan

		 	Name: Kevin C. Hagan	 		 		 	Name: Kevin C. Hagan
		 	Title: Vice President & Treasurer	 		 		 	Title: Vice President & Treasurer

 SUBSIDIARY GUARANTORS 

 

									
	FOSTER WHEELER PYROPOWER, INC.	 		 	FOSTER WHEELER REAL ESTATE DEVELOPMENT CORP.
					
	By:	 	 /s/ Kevin C. Hagan
	 		 	By:	 	 /s/ Kevin C. Hagan

		 	Name: Kevin C. Hagan	 		 		 	Name: Kevin C. Hagan
		 	Title: Vice President & Treasurer	 		 		 	Title: President & Treasurer
			
	FOSTER WHEELER REALTY SERVICES, INC.	 		 	FOSTER WHEELER VIRGIN ISLANDS, INC.
					
	By:	 	 /s/ Kevin C. Hagan
	 		 	By:	 	 /s/ Kevin C. Hagan

		 	Name: Kevin C. Hagan	 		 		 	Name: Kevin C. Hagan
		 	Title: President & Treasurer	 		 		 	Title: Vice President & Treasurer
			
	FOSTER WHEELER ZACK, INC.	 		 	FOSTER WHEELER BIOKINETICS, INC.
					
	By:	 	 /s/ Kevin C. Hagan
	 		 	By:	 	 /s/ Kevin C. Hagan

		 	Name: Kevin C. Hagan	 		 		 	Name: Kevin C. Hagan
		 	Title: Vice President & Treasurer	 		 		 	Title: Vice President & Treasurer

 SUBSIDIARY GUARANTORS 

 

									
	FOSTER WHEELER SERVICES, INC.	 		 	FW HUNGARY LICENSING LIMITED LIABILITY COMPANY
					
	By:	 	 /s/ Kevin C. Hagan
	 		 	By:	 	 /s/ Kevin C. Hagan

		 	Name: Kevin C. Hagan	 		 		 	Name: Kevin C. Hagan
		 	Title: Vice President & Treasurer	 		 		 	Title: Director
			
	FINANCIAL SERVICES S.À R.L.	 		 	FW FINANCIAL HOLDINGS GMBH
					
	By:	 	 /s/ Kevin C. Hagan
	 		 	By:	 	 /s/ Rakesh K. Jindal

		 	Name: Kevin C. Hagan	 		 		 	Name: Rakesh K. Jindal
		 	Title: Manager	 		 		 	Title: Manager
				
	FW INVESTMENTS LIMITED	 		 		 	
				
	By:	 	 /s/ Rakesh K. Jindal
 Name: Rakesh K. Jindal
	 		 	Executed as a deed by FOSTER WHEELER (GIBRALTAR) HOLDINGS LIMITED and signed by 2 directors
		 	Title: Director	 		 	  
 By:
	 	  
 /s/ Kevin C.
Hagan

		 		 		 		 	Name: Kevin C. Hagan
		 		 		 		 	Title: Director
					
		 		 		 	By:	 	 /s/ Rakesh K. Jindal

		 		 		 		 	Name: Rakesh K. Jindal
		 		 		 		 	Title: Director

 ADMINISTRATIVE AGENT 

 

			
	BNP PARIBAS, individually and as Administrative Agent
		
	By:	 	 /s/ Pierre Nicholas Rogers

		 	Name: Pierre Nicholas Rogers
		 	Title: Managing Director
		
	By:	 	 /s/ John Treadwell, Jr.

		 	Name: John Treadwell, Jr.
		 	Title: Vice President

 LENDERS 

 

			
	BNP PARIBAS
		
	By:	 	 /s/ Pierre Nicholas Rogers

		
		 	Name: Pierre Nicholas Rogers
		 	Title: Managing Director
		
	By:	 	 /s/ John Treadwell, Jr.

		
		 	Name: John Treadwell, Jr.
		 	Title: Vice President

 LENDERS 

 

			
	UNION BANK, N.A.
		
	By:	 	 /s/ Lauren Hom

		
		 	Name: Lauren Hom
		 	Title: Vice President

 LENDERS 

 

			
	HSBC BANK USA, NATIONAL ASSOCIATION
		
	By:	 	 /s/ Christopher J. Mendelsohn

		
		 	Name: Christopher J. Mendelsohn
		 	Title: Senior Vice President

 LENDERS 

 

			
	WELLS FARGO BANK, NATIONAL ASSOCIATION
		
	By:	 	 /s/ Robert K. Strunk II

	
	Name: Robert K. Strunk II
	Title: Senior Vice President

 LENDERS 

 

			
	CREDIT AGRICOLE CORPORATE & INVESTMENT BANK NY
		
	By:	 	 /s/ Brad Matthews

	
	Name: Brad Matthews
	Title: Vice President
		
	By:	 	 /s/ David Christiansen

	
	Name: David Christiansen
	Title: Director

 LENDERS 

 

			
	LLOYDS TSB BANK PLC
		
	By:	 	 /s/ Dennis McClellan

	
	Name: Dennis McClellan
	Title: Assistant Vice President – M040
		
	By:	 	 /s/ Stephen Giacolone

	
	Name: Stephen Giacolone
	Title: Assistant Vice President – G011

 LENDERS 

 

			
	PNC BANK, NATIONAL ASSOCIATION
		
	By:	 	 /s/ Edward M. Tessalone

		
	Name:	 	Edward M. Tessalone
	Title:	 	Senior Vice President
		 	PNC Bank, N.A.

 LENDERS 

 

			
	BARCLAYS BANK PLC
		
	By:	 	 /s/ Mark Thompson

	
	Name: Mark Thompson
	Title: Authorized Signatory

 LENDERS 

 

			
	CITIBANK, N.A.
		
	By:	 	 /s/ Christopher Hartzell

	
	Name: Christopher Hartzell
	Title: Director

 LENDERS 

 

			
	CREDIT SUISSE AG
		
	By:	 	 /s/ Jean-Marc Vauclair

	
	Name: Jean-Marc Vauclair
	Title: Assistant Vice President
		
	By:	 	 /s/ Eric Balmer

	
	Name: Eric Balmer
	Title: Director

 LENDERS 

 

			
	JPMORGAN CHASE BANK, N.A.
		
	By:	 	 /s/ Peter M. Killea

	
	Name: Peter M. Killea
	Title: Senior Vice President

 LENDERS 

 

			
	KEYBANK NATIONAL ASSOCIATION
		
	By:	 	 /s/ Thomas A. Crandell

	
	Name: Thomas A. Crandell
	Title: Senior Vice President

 LENDERS 

 

			
	NATIONAL BANK OF KUWAIT, S.A.K. NEW YORK BRANCH
		
	By:	 	 /s/ Marwan Isbaih

	
	Name: Marwan Isbaih
	Title: General Manager
		
	By:	 	 /s/ Wendy B. Wanninger

	
	Name: Wendy B. Wanninger
	Title: Executive Manager

 LENDERS 

 

			
	SOVEREIGN BANK, N.A.
		
	By:	 	 /s/ Matthew Bartlett

	
	Name: Matthew Bartlett
	Title: Vice President

 LENDERS 

 

			
	SUMITOMO MITSUI BANKING CORPORATION
		
	By:	 	 /s/ David W. Kee

	
	Name: David W. Kee
	Title: Managing Director

 LENDERS 

 

			
	UBS AG
		
	By:	 	 /s/ Gaël Jacquemettaz

	
	Name: Gaël Jacquemettaz
	Title: Director
		
	By:	 	 /s/ Ralph W. Schumacher

	
	Name: Ralph W. Schumacher
	Title: Executive Director

 EXHIBIT A 
 [Form of Assignment and Assumption] 
 ASSIGNMENT AND ASSUMPTION 

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

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

 

							
	1.	  	Assignor:	  	  
	  	
				
	2.	  	Assignee:	  	  
	  	
		  		  	[and is an Affiliate/Approved Fund of [identify Lender]1]	  	

  

	1	 Select as
applicable. 

							
	3.	  	Administrative Agent:	  	BNP Paribas, as the administrative agent under the Credit Agreement	  	
				
	4.	  	Credit Agreement:	  	The $750,000,000 Credit Agreement dated as of August 3, 2012 between Foster Wheeler LLC, Foster Wheeler Inc., Foster Wheeler USA Corporation, Foster Wheeler North America Corp.,
Foster Wheeler Energy Corporation and Foster Wheeler International Corporation (each a “Borrower” and, collectively, the “Borrowers”), Foster Wheeler AG (the “Parent”), Foster Wheeler Ltd.
(“FWL”), Foster Wheeler Holdings Ltd. (“Holdco”), the Subsidiary Guarantors party thereto, the Lenders party thereto and BNP Paribas, as Administrative Agent.	  	
				
	5.	  	Assigned Interest:	  		  	

  

													
	 Facility Assigned2
	  	Aggregate Amount 
of
Commitment/Loans
for all Lenders	 	  	Amount of
Commitment/Loans
Assigned	 	  	Percentage
Assigned of
Commitment/Loans3	 
		  	$	            	  	  	$	            	  	  	 	    	% 
		  	$	            	  	  	$	            	  	  	 	    	% 
		  	$	            	  	  	$	            	  	  	 	    	% 

 Effective Date:                  ,
20     [TO BE INSERTED BY ADMINISTRATIVE AGENT AND WHICH SHALL BE THE EFFECTIVE DATE OF RECORDATION OF TRANSFER IN THE REGISTER THEREFOR.] 
 The terms set forth in this Assignment and Assumption are hereby agreed to: 
  

			
	ASSIGNOR
	
	[NAME OF ASSIGNOR]
		
	By:	 	  

	 Name:

	 Title:

  

	2 	 Fill in the appropriate terminology for the types of facilities under the Credit Agreement that are being assigned under this Assignment (e.g.
“Revolving Credit Commitment,” “Incremental Loan Commitment,” etc.) 

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

  
 - 2 -

 
			
	ASSIGNEE
	
	[NAME OF ASSIGNEE]
		
	By:	 	  

	 Name:

	 Title:

  
 - 3 -

 [Consented to and]4 Accepted: 
  

			
	 BNP PARIBAS, as Administrative Agent [and Swingline Lender]5

		
	By	 	  

	 Name:

	 Title:

	
	[Consented to:]6
	
	[ISSUING LENDERS]
	
	[Complete as appropriate]
	
	[Consented to:]7
	
	FOSTER WHEELER LLC
		
	By	 	  

	 Name:

	 Title:

  

	4 	 To be added only if the consent of the Administrative Agent is required by the terms of the Credit Agreement. 

	5 	 To be added in the case of any assignment of Revolving Credit Commitments. 

	6 	 To be added in the case of any assignment of Revolving Credit Commitments. 

	7 	 To be added only if the consent of the Company is required by the terms of the Credit Agreement. 

  
 - 4 -

 ANNEX 1 
 $750,000,000 CREDIT AGREEMENT DATED AS OF AUGUST 3, 2012 
 BETWEEN FOSTER WHEELER
LLC, FOSTER WHEELER INC., FOSTER WHEELER USA CORPORATION, FOSTER WHEELER NORTH AMERICA CORP., FOSTER WHEELER ENERGY CORPORATION and FOSTER WHEELER INTERNATIONAL CORPORATION, AS BORROWERS, FOSTER WHEELER AG, FOSTER WHEELER LTD., FOSTER WHEELER
HOLDINGS LTD., THE SUBSIDIARY GUARANTORS PARTY THERETO, THE LENDERS PARTY THERETO AND BNP PARIBAS, AS ADMINISTRATIVE AGENT 

STANDARD TERMS AND CONDITIONS FOR 
 ASSIGNMENT AND ASSUMPTION 
 1. Representations and Warranties. 

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

1.2. Assignee. The Assignee (a) represents and warrants that (i) it has full power and authority, and has taken all
action necessary, to execute and deliver this Assignment and Assumption and to consummate the transactions contemplated hereby and to become a Lender under the Credit Agreement, (ii) it satisfies the requirements, if any, specified in the
Credit Agreement that are required to be satisfied by it in order to acquire the Assigned Interest and become a Lender, (iii) from and after the Effective Date, it shall be bound by the provisions of the Credit Agreement as a Lender thereunder
and, to the extent of the Assigned Interest, shall have the obligations of a Lender thereunder, (iv) it has received a copy of the Credit Agreement, together with copies of the most recent financial statements delivered pursuant to
Section 7.01 thereof, as applicable, and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Assignment and Assumption and to purchase the Assigned Interest on the
basis of which it has made such analysis and decision independently and without reliance on the Administrative Agent or any other Lender, and (v) attached to this Assignment and Assumption is any documentation required to be delivered by it
pursuant to the terms of the Credit Agreement, duly 

  
 - 5 -

 
completed and executed by the Assignee; and (b) agrees that (i) it will, independently and without reliance on the Administrative Agent, the Assignor or any other Lender, and based on
such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Loan Documents, and (ii) it will perform in accordance with their terms all of the
obligations which by the terms of the Loan Documents are required to be performed by it as a Lender. 
 2. Payments. From
and after the Effective Date, the Administrative Agent shall make all payments in respect of the Assigned Interest (including payments of principal, interest, fees and other amounts) to the Assignor for amounts which have accrued to but excluding
the Effective Date and to the Assignee for amounts which have accrued from and after the Effective Date. 
 3. General
Provisions. This Assignment and Assumption shall be binding upon, and inure to the benefit of, the parties hereto and their respective successors and assigns. This Assignment and Assumption may be executed in any number of counterparts, which
together shall constitute one instrument. Delivery of an executed counterpart of a signature page of this Assignment and Assumption by telecopy or electronic copy (including .pdf and .tif) shall be effective as delivery of a manually executed
counterpart of this Assignment and Assumption. This Assignment and Assumption shall be governed by, and construed in accordance with, the laws of the State of New York. 

  
 - 6 -

 EXHIBIT B-1 
 [Form of Opinion of Counsel to the Obligors] 
 [Please see attached] 

					
	 

	 	53rd at Third	 	
	 	885 Third Avenue
	 	New York, New York 10022-4834
	 	Tel: +1.212.906.1200 Fax: +1.212.751.4864
	 	www.lw.com	 	
	 		 	
		 	FIRM / AFFILIATE OFFICES
			
		 	 Abu Dhabi

Barcelona
 Beijing

Boston
	 	Moscow
 Munich

New Jersey
 New York

	 [                    ],
2012
  
 L&W DRAFT 8/1/12
	 	 Brussels

Chicago
 Doha

Dubai
 Frankfurt

Hamburg
 Hong Kong

Houston
 London

Los Angeles
 Madrid

Milan
	 	Orange County
 Paris

Riyadh
 Rome

San Diego
 San Francisco

Shanghai
 Silicon Valley

Singapore
 Tokyo

Washington, D.C.

		 	  
 File No. 036794-0020

 The lenders party to the Credit Agreement (referred to below) on the date thereof 

and 
 BNP Paribas, as
Administrative Agent for the lenders referred to above 
  

	 	Re:	The Credit Agreement referred to below 

 Ladies
and Gentlemen: 
 We have acted as special counsel to Foster Wheeler LLC, a Delaware limited liability company (the
“Company”), Foster Wheeler Inc., a Delaware corporation, Foster Wheeler USA Corporation, a Delaware corporation, Foster Wheeler North America Corp., a Delaware corporation, Foster Wheeler Energy Corporation, a Delaware corporation,
Foster Wheeler International Corporation, a Delaware corporation (collectively, the “Corporate Borrowers,” and together with Company, the “Borrowers”), and the Affiliates of the Company that are listed as “U.S.
Guarantors” (together with the Borrowers, the “U.S. Credit Parties”) and “Non-U.S. Guarantors” on Schedule A hereto (collectively, the “Guarantors” and together with the Borrowers, the
“Credit Parties”) in connection with (a) that certain Credit Agreement dated as of [                    ], 2012 (the
“Credit Agreement”), among the Borrowers, the Guarantors, the lenders party thereto and BNP Paribas, as administrative agent (in such capacity, the “Administrative Agent”) and (b) the other Opinion Documents
(as defined below). 

[                    ], 2012 

Page 3 
  
 

 
  

 This letter is furnished pursuant to Section 6.01(b) of the Credit Agreement.
Capitalized terms defined in the Credit Agreement, used herein and not otherwise defined herein, shall have the meanings given them in the Credit Agreement. 
 As such counsel, we have examined such matters of fact and questions of law as we have considered appropriate for purposes of this letter, except where a specified fact confirmation procedure is stated to
have been performed (in which case we have with your consent performed the stated procedure), and except where a statement is qualified as to knowledge (in which case we have with your consent made no or limited inquiry as specified below). We have
examined, among other things, the following: 
  

	 	(a)	the Credit Agreement; and 

  

	 	(b)	the Promissory Notes listed on Schedule B hereto (the “Promissory Notes”). 

The documents described in subsections (a) – (b) above are referred to herein collectively as the “Opinion
Documents.” 
 Except as otherwise stated herein, as to factual matters we have, with your consent, relied upon the
foregoing, and upon oral and written statements and representations of officers and other representatives of the Credit Parties and others, including the representations and warranties of the Credit Parties in the Opinion Documents. We have not
independently verified such factual matters. 
 We are opining as to the effect on the subject transaction only of the federal
laws of the United States and the internal laws of the State of New York, and we express no opinion with respect to the applicability to the opinions expressed herein, or the effect thereon, of the laws of any other jurisdiction, or as to any
matters of municipal law or the laws of any local agencies within any state. 
 Except as otherwise stated herein, our opinions
herein are based upon our consideration of only those statutes, rules and regulations which, in our experience, are normally applicable to borrowers and guarantors in unsecured loan transactions. We express no opinion as to any state or federal laws
or regulations applicable to the subject transactions because of the legal or regulatory status of any parties to the Opinion Documents or the legal or regulatory status of any of their affiliates. Various issues pertaining to certain US laws and
Bermuda, England, Hungary, Luxembourg, Gibraltar and Switzerland law are addressed in the opinions of Sara Bucholtz, Conyers Dill & Pearman Limited, Latham & Watkins LLP (London), Dr. Bényi E. László Law
Firm, Baker & McKenzie LLP, Triay Stagnetto Neish, Suter Howald Rechtansanwälte and Bär & Karrer SA, respectively, separately provided to you. We express no opinion with respect to those matters herein, and to the extent
elements of those opinions are necessary to the conclusions expressed herein, we have, with your consent, assumed such matters. 

Subject to the foregoing, assuming each and all of the matters set forth in the penultimate paragraph of this letter and subject to the
other matters set forth herein, we express the following opinions or confirmations as of the date hereof (except, in the case of paragraph 1, we express no opinion with respect to Section 4.06 of the Credit Agreement): 

 

	 	1.	Each of the Opinion Documents constitutes a legally valid and binding obligation of each Credit Party party thereto, enforceable against such Credit Party in
accordance with its terms. 

[                    ], 2012 

Page 4 
  
 

 
  

	 	2.	The execution and delivery of the Opinion Documents by each Credit Party party thereto on the date hereof do not: 

 

	 	(i)	violate any federal or New York statute, rule, or regulation applicable to the Credit Parties (including, without limitation, Regulations T, U or X of the Board of
Governors of the Federal Reserve System, assuming the Credit Parties comply with the provisions of the Opinion Documents relating to the use of proceeds); or 

 

	 	(ii)	require any consents, approvals, or authorizations to be obtained by the Credit Parties from, or any registrations, declarations or filings to be made by the Credit
Parties with, any governmental authority, under any federal or New York statute, rule or regulation applicable to the Credit Parties that have not been obtained or made. 

 

	 	3.	The Company is not required to be registered as an “investment company” within the meaning of the Investment Company Act of 1940, as amended.

 Our opinions do not include any opinion with respect to the creation, validity, attachment, perfection or
priority of any security interest or lien or the effectiveness of any sale or other conveyance or transfer of real or personal property. 
 Our opinions are subject to: 
 (a) the effects of bankruptcy, insolvency,
reorganization, preference, fraudulent transfer, moratorium or other similar laws relating to or affecting the rights or remedies of creditors, and the judicial application of foreign laws or governmental actions affecting creditors’ rights;

 (b) the effects of general principles of equity, whether considered in a proceeding in equity or at law (including the
possible unavailability of specific performance or injunctive relief), concepts of materiality, reasonableness, good faith and fair dealing, and the discretion of the court before which a proceeding is brought; 

[                    ], 2012 

Page 5 
  
 

 
  

 (c) the invalidity under certain circumstances under law or court decisions of
provisions for the indemnification of or contribution to a party with respect to a liability where such indemnification or contribution is contrary to public policy; 

(d) we express no opinion with respect to (i) consents to, or restrictions upon, governing law (except for the
validity under the laws of the State of New York, but subject to mandatory choice of law rules and constitutional limitations, of provisions in the Credit Agreement which expressly choose New York as the governing law for the Credit Agreement),
jurisdiction (except for the validity under the laws of the State of New York, but subject to mandatory jurisdiction rules and constitutional limitations, of provisions in the Credit Agreement which expressly provide for submission to the
non-exclusive jurisdiction of New York state courts), venue, service of process, remedies or judicial relief; (ii) advance waivers of claims, defenses, rights granted by law, or notice, opportunity for hearing, evidentiary requirements,
statutes of limitation, trial by jury or at law, or other procedural rights; (iii) waivers of broadly or vaguely stated rights; (iv) provisions for exclusivity, election or cumulation of rights or remedies; (v) provisions authorizing
or validating conclusive or discretionary determinations; (vi) grants of setoff rights; (vii) provisions to the effect that a guarantor is liable as a primary obligor, and not as a surety; (viii) provisions for the payment of
attorneys’ fees where such payment is contrary to law or public policy; (ix) proxies, powers and trusts; (x) provisions prohibiting, restricting, or requiring consent to assignment or transfer of any right or property;
(xi) provisions for liquidated damages, default interest, late charges, monetary penalties, prepayment or make-whole premiums or other economic remedies to the extent such provisions are deemed to constitute a penalty; and (xii) the
severability, if invalid, of provisions to the foregoing effect; 
 We express no opinion or confirmation as to federal or state
securities laws (except as provided in paragraph 3), tax laws, antitrust or trade regulation laws, insolvency or fraudulent transfer laws, antifraud laws, compliance with fiduciary duty requirements, pension or employee benefit laws, usury laws
(other than any statute, rule or regulation of the State of New York), environmental laws, margin regulations (except as set forth in paragraph 2(i)), laws and regulations relating to commodities trading, futures and swaps, Financial Industry
Regulatory Authority rules, National Futures Association rules, or the rules of any stock exchange, clearing organization, designated contract market or other regulated entity for trading, processing, clearing or reporting transactions in
securities, commodities, futures or swaps, export control, anti-money laundering, and anti-terrorism laws (without limiting other laws or rules excluded by customary practice). 

The opinions set forth above are also subject to the effect of general legal principles that impose a duty to act in good faith and in a
commercially reasonable manner. 
 We call to your attention that enforcement of a claim denominated in a foreign currency may
be limited by requirements that the claim (or a judgment in respect of the claim) be converted into United States dollars, and we express no opinion as to the enforceability of any indemnity for losses associated with the exchange of the judgment
currency into any other currency. 

[                    ], 2012 

Page 6 
  
 

 
  

 With your consent, we have assumed (a) that each Credit Party and each other party
to the Opinion Documents exists and has the right, power and authority to execute, deliver and perform its obligations under the Opinion Documents under all laws applicable to it, (b) that the Opinion Documents have been duly authorized,
executed and delivered by each Credit Party and each other party thereto, (c) the genuineness of all signatures and the legal capacity of all natural persons, (d) that the Opinion Documents constitute legally valid and binding obligations
of the parties thereto other than the Credit Parties, enforceable against each of them in accordance with their respective terms, and (e) that the status of the Opinion Documents as legally valid and binding obligations of each party thereto is
not affected by any (i) breaches of, or defaults under, agreements or instruments, (ii) violations of statutes, rules, regulations or court or governmental orders, or (iii) failures to obtain required consents, approvals or
authorizations from, or make required registrations, declarations or filings with, governmental authorities, provided that we make no such assumption to the extent we have expressly opined as to such matters with respect to the Credit Parties in
paragraph 2(ii) of this letter. 
 This letter is furnished only to you and is solely for your benefit in connection with the
transactions referenced in the first paragraph. This letter may not be relied upon by you for any other purpose or furnished or quoted by you to any other person, firm or entity for any other purpose and may not be assigned to or relied on by
any other person, firm or entity for any purpose, in each case without our prior written consent, which may be granted or withheld in our discretion. At your request, we hereby consent to reliance hereon by any future assignee of your interest in
the loans under the Credit Agreement pursuant to an assignment that is made and consented to in accordance with the express provisions of Section 11.08 of the Credit Agreement, on the condition and understanding that (i) this letter speaks
only as of the date hereof, (ii) we have no responsibility or obligation to update this letter, to consider its applicability or correctness to other than its addressees, or to take into account changes in law, facts or any other developments
of which we may later become aware, and (iii) any such reliance by a future assignee must be actual and reasonable under the circumstances existing at the time of assignment, including any changes in law, facts or any other developments known
to or reasonably knowable by the assignee at such time. 
  

	
	Very truly yours,
	
	DRAFT

 SCHEDULE A 

GUARANTORS 
 U.S.
Guarantors: 
  

	 	1.	Foster Wheeler LLC (DE) 

  

	 	2.	Foster Wheeler Inc. (DE) 

  

	 	3.	Foster Wheeler USA Corporation (DE) 

  

	 	4.	Foster Wheeler North America Corp. (DE) 

  

	 	5.	Foster Wheeler International Corporation (DE) 

  

	 	6.	Foster Wheeler Energy Corporation (DE) 

  

	 	7.	Foster Wheeler Virgin Islands, Inc. (DE) 

  

	 	8.	Foster Wheeler Zack, Inc. (DE) 

  

	 	9.	Foster Wheeler Energy Services, Inc. (CA) 

  

	 	10.	Foster Wheeler Pyropower, Inc. (NY) 

  

	 	11.	Foster Wheeler Real Estate Development Corp. (DE) 

  

	 	12.	Foster Wheeler Development Corporation (DE) 

  

	 	13.	Foster Wheeler Realty Services, Inc. (DE) 

  

	 	14.	Foster Wheeler Power Systems, Inc. (DE) 

  

	 	15.	Foster Wheeler Asia Limited (DE) 

  

	 	16.	Foster Wheeler Intercontinental Corporation (DE) 

  

	 	17.	Process Consultants, Inc. (DE) 

  

	 	18.	Foster Wheeler International Holdings, Inc. (DE) 

  

	 	19.	Foster Wheeler Constructors, Inc. (DE) 

  

	 	20.	Foster Wheeler Energy Manufacturing, Inc. (DE) 

  

	 	21.	Foster Wheeler Facilities Management, Inc. (DE) 

  

	 	22.	Pyropower Operating Services Company, Inc. (CA) 

  

	 	23.	Foster Wheeler Biokinetics, Inc. 

 Non-U.S.
Guarantors: 
  

	 	1.	Foster Wheeler Ltd. 

  

	 	2.	Foster Wheeler Holdings Ltd. 

  

	 	3.	Foster Wheeler AG 

  

	 	4.	FW European E & C Ltd. 

  

	 	5.	FW Hungary Licensing Limited Liability Company 

  

	 	6.	Financial Services S.à r.l. 

  

	 	7.	Foster Wheeler (Gibraltar) Holdings Limited 

  

	 	8.	FW Financial Holdings GmbH 

  

	 	9.	FW Investments Limited 

 SCHEDULE B 

PROMISSORY NOTES 
 [See attached] 

 EXHIBIT B-2 
  

 
 SARA R. BUCHOLTZ 

 

					
	 Assistant General Counsel-Corporate
& Assistant Secretary
	  		  	 Tel.: 908-730-4160

Fax: 908-730-4149

		  		  	Email: sara_bucholtz@fwc.com

 August 3, 2012 
 The lenders party to the Credit Agreement (referred to below) on the date hereof 

and 
 BNP Paribas, as
Administrative Agent for the lenders referred to above 
  

	 	Re:	The Credit Agreement referred to below 

 Ladies
and Gentlemen: 
 I am Assistant General Counsel-Corporate to Foster Wheeler Inc., a Delaware corporation
(“FWI”), and have acted in that capacity as counsel to FWI, Foster Wheeler LLC, a Delaware limited liability company (the “Company”), Foster Wheeler USA Corporation, a Delaware corporation, Foster Wheeler North
America Corp., a Delaware corporation, Foster Wheeler Energy Corporation, a Delaware corporation, Foster Wheeler International Corporation, a Delaware corporation (collectively, the “Borrowers”), and the Affiliates of the Company
that are listed as “U.S. Guarantors” (together with the Borrowers, the “U.S. Credit Parties”) and “Non-U.S. Guarantors” on Schedule A hereto (collectively, the “Guarantors” and together
with the Borrowers, the “Credit Parties”) in connection with that certain Credit Agreement dated as of August 3, 2012 (the “Credit Agreement”), among the Borrowers, the Guarantors, the lenders party thereto and
BNP Paribas, as administrative agent (in such capacity, the “Administrative Agent”). 
 This letter is
furnished pursuant to Section 6.01(b) of the Credit Agreement. Capitalized terms defined in the Credit Agreement used herein, and not otherwise defined herein, shall have the meanings given them in the Credit Agreement. 

As such counsel, I have examined such matters of fact and questions of law as I have considered appropriate for purposes of this letter,
except where a specified fact confirmation procedure is stated to have been performed (in which case I have with your consent 

  
 FOSTER
WHEELER INC. 
 53 Frontage Road, PO Box 90000, Hampton, NJ 08827-9000 Tel (908) 730-4000 Fax (908) 713-3245 www.fwc.com

 August 3, 2012 
 Page 2 
  

 
performed the stated procedure), and except where a statement is qualified as to knowledge (in which case I have with your consent made no or limited inquiry as specified below). I have examined,
among other things, the following: 
 (a) The Credit Agreement; 

(b) The Promissory Notes listed on Schedule B hereto (the “Promissory Notes”); and

 (c) The Certificate of Incorporation, Bylaws, Limited Liability Company Agreement, Certificate of
Formation or Operating Agreement (or other similar constitutive document), as applicable, of the U.S. Credit Parties (the “U.S. Governing Documents”). 
 The documents described in subsections (a) and (b) above are referred to herein collectively as the “Opinion Documents.” 

Except as otherwise stated herein, as to factual matters I have, with your consent, relied upon the foregoing, and upon oral and written
statements and representations of officers and other representatives of the Credit Parties, including the representations and warranties of the Credit Parties in the Opinion Documents. I have not independently verified such factual matters.

 I am opining herein as to the effect on the subject transaction only of the General Corporation Law of the State of Delaware
(the “DGCL”), the Delaware Limited Liability Company Act (the “DLLCA”), the Corporations Code of the State of California (the “CCC”) and the Business Corporation Law of the State of New York (the
“NYBCL”); each of the foregoing, a “Constitutive Law”, as applicable, to the U.S. Credit Parties existing under such law. Except as described in the previous sentence, I express no opinion with respect to the
applicability to the opinions expressed herein, or the effect thereon, of the laws of any other jurisdiction or any other laws in any such jurisdiction, or as to any matters of municipal law or the laws of any local agencies within any state. I call
to your attention that I am admitted to practice law only in the States of New York and New Jersey. With your permission, to the extent the opinions herein relate to matters governed by the laws of the State of California, I have assumed that the
laws of the State of California are substantially similar to the laws of the State of New York. 
 Except as otherwise stated herein, my
opinions herein are based upon my consideration of only those statutes, rules and regulations which, in my experience, are normally applicable to borrowers and guarantors in loan transactions. I express no opinion as to any state or federal laws or
regulations applicable to the subject transactions because of the legal or regulatory status of any parties to the Opinion Documents or the legal or regulatory status of any of their affiliates. Various matters pertaining to Bermuda, England,
Hungary, Luxembourg, Gibraltar and Switzerland law are addressed in the opinions of Conyers Dill & Pearman, Latham & Watkins LLP (London), Dr. Bényi E. László Law Firm, Baker & McKenzie LLP, Triay
Stagnetto Neish, Suter Howald Rechtansanwälte and Bär & Karrer AG, respectively, separately provided to you (collectively, the “Foreign Opinions”). I express no opinion with respect to those matters, and to the
extent elements of those opinions are necessary to the conclusions expressed herein, I have, with your consent, assumed such matters. 

 August 3, 2012 
 Page 3 
  

 Subject to the foregoing and the other matters set forth herein, I express the following
opinions or confirmations, as of the date hereof: 
 1. The Company is a limited liability company under the DLLCA with
limited liability company power and authority to enter into the Opinion Documents to which it is a party, to incur liability in respect of borrowings and letters of credit under the Credit Agreement, and to perform its obligations under the Opinion
Documents to which it is a party. With your consent, based solely on certificates from public officials, I confirm that the Company is validly existing and in good standing under the laws of the State of Delaware. 

2. Each entity listed on Schedule C(1) (a “Delaware Corporate Credit Party”) is a corporation under the DGCL
with corporate power and authority to enter into the Opinion Documents to which it is a party, to incur liability in respect of borrowings and letters of credit and/or guarantees under the Credit Agreement, as applicable, and to perform its
obligations under the Opinion Documents to which it is a party. With your consent, based solely on certificates from public officials, I confirm that each Delaware Corporate Credit Party is validly existing and in good standing under the laws of the
State of Delaware. 
 3. Each entity listed on Schedule C(2) (a “California Credit Party”) is a
corporation under the CCC with corporate power and authority to enter into the Opinion Documents to which it is a party, to incur liability in respect of guarantees under the Credit Agreement, and to perform its obligations under the Opinion
Documents to which it is a party. With your consent, based solely on certificates from public officials, I confirm that each California Credit Party is validly existing and in good standing under the laws of the State of California. 

4. The entity listed on Schedule C(3) (the “New York Credit Party”) is a corporation under the NYBCL with
corporate power and authority to enter into the Opinion Documents to which it is a party, to incur liability in respect of guarantees under the Credit Agreement, and to perform its obligations under the Opinion Documents to which it is a party. With
your consent, based solely on certificates from public officials, I confirm that the New York Credit Party is validly existing and in good standing under the laws of the State of New York. 

5. The execution, delivery and performance of the Opinion Documents by the U.S. Credit Parties parties thereto have been duly
authorized by all necessary limited liability company or corporate action of the U.S. Credit Parties and the Opinion Documents have been duly executed and delivered by the U.S. Credit Parties parties thereto. 

6. The execution and delivery of the Opinion Documents by a U.S. Credit Party on the date hereof do not: 

(i) violate the provisions of its U.S. Governing Documents; 

(ii) violate its Constitutive Law; or 

(iii) require any consents, approvals, or authorizations to be obtained by it from, or any registrations,
declarations or filings to be made by it with, any governmental authority under its Constitutive Law that have not been obtained or made. 

 August 3, 2012 
 Page 4 
  

 I express no opinion as to the enforceability of any document, as to the creation,
perfection or priority of any security interest or lien, or the effectiveness of any sale or other conveyance or transfer of real or personal property, or as to compliance with any laws other than, as to each U.S. Credit Party, its Constitutive Law.

 This letter is furnished only to you and is solely for your benefit in connection with the transactions referenced in the
first paragraph. This letter may not be relied upon by you for any other purpose or furnished or quoted by you to any other person, firm or entity for any other purpose and may not be assigned to or relied on by any other person, firm or entity
for any purpose, in each case without my prior written consent, which may be granted or withheld in my discretion. At your request, I hereby consent to reliance hereon by any future assignee of your interest in the loans under the Credit Agreement
pursuant to an assignment that is made and consented to in accordance with the express provisions of Section 11.08 of the Credit Agreement, on the condition and understanding that (i) this letter speaks only as of the date hereof,
(ii) I have no responsibility or obligation to update this letter, to consider its applicability or correctness to other than its addressees, or to take into account changes in law, facts or any other developments of which we may later become
aware, and (iii) any such reliance by a future assignee must be actual and reasonable under the circumstances existing at the time of assignment, including any changes in law, facts or any other developments known to or reasonably knowable by
the assignee at such time. 
 Very truly yours, 

 SCHEDULE A 

GUARANTORS 
 U.S.
Guarantors: 
  

	 	1.	Foster Wheeler LLC 

  

	 	2.	Foster Wheeler Energy Corporation 

  

	 	3.	Foster Wheeler Inc. 

  

	 	4.	Foster Wheeler International Corporation 

  

	 	5.	Foster Wheeler North America Corp. 

  

	 	6.	Foster Wheeler USA Corporation 

  

	 	7.	Foster Wheeler Asia Limited 

  

	 	8.	Foster Wheeler Biokinetics, Inc. 

  

	 	9.	Foster Wheeler Constructors, Inc. 

  

	 	10.	Foster Wheeler Development Corporation 

  

	 	11.	Foster Wheeler Energy Manufacturing, Inc. 

  

	 	12.	Foster Wheeler Energy Services, Inc. 

  

	 	13.	Foster Wheeler Facilities Management, Inc. 

  

	 	14.	Foster Wheeler Intercontinental Corporation 

  

	 	15.	Foster Wheeler International Holdings, Inc. 

  

	 	16.	Foster Wheeler Power Systems, Inc. 

  

	 	17.	Foster Wheeler Pyropower, Inc. 

  

	 	18.	Foster Wheeler Real Estate Development Corp. 

  

	 	19.	Foster Wheeler Realty Services, Inc. 

  

	 	20.	Foster Wheeler Services, Inc. 

  

	 	21.	Foster Wheeler Virgin Islands, Inc. 

  

	 	22.	Foster Wheeler Zack, Inc. 

  

	 	23.	Process Consultants, Inc. 

  

	 	24.	Pyropower Operating Services Company, Inc. 

Non-U.S. Guarantors: 
  

	 	1.	Foster Wheeler Ltd. 

  

	 	2.	Foster Wheeler Holdings Ltd. 

  

	 	3.	Foster Wheeler AG 

  

	 	4.	Financial Services S.à r.l. 

  

	 	5.	Foster Wheeler (Gibraltar) Holdings Limited 

  

	 	6.	FW Financial Holdings GmbH 

  

	 	7.	FW European E & C Ltd. 

  

	 	8.	FW Hungary Licensing Limited Liability Company 

  

	 	9.	FW Investments Limited 

 SCHEDULE B 

PROMISSORY NOTES 

[To Come.] 

 SCHEDULE C 
 1. DELAWARE CORPORATE CREDIT PARTIES: 
 Foster Wheeler LLC 

Foster Wheeler Energy Corporation 
 Foster Wheeler Inc. 
 Foster Wheeler International Corporation 

Foster Wheeler North America Corp. 
 Foster Wheeler USA Corporation 
 Foster Wheeler Asia Limited 

Foster Wheeler Biokinetics, Inc. 
 Foster Wheeler Constructors, Inc. 
 Foster Wheeler Development Corporation

 Foster Wheeler Energy Manufacturing, Inc. 
 Foster Wheeler Facilities Management, Inc. 
 Foster Wheeler Intercontinental
Corporation 
 Foster Wheeler International Holdings, Inc. 

Foster Wheeler Power Systems, Inc. 
 Foster Wheeler Real Estate Development Corp. 
 Foster Wheeler Realty Services, Inc.

 Foster Wheeler Services, Inc. 
 Foster Wheeler Virgin Islands, Inc. 
 Foster Wheeler Zack, Inc. 

Process Consultants, Inc. 
 2.
CALIFORNIA CREDIT PARTIES: 
 Foster Wheeler Energy Services, Inc. 

Pyropower Operating Services Company, Inc. 
 3. NEW YORK CREDIT PARTY: 
 Foster Wheeler Pyropower, Inc. 

 EXHIBIT C 
 [Form of Opinion of Special Counsel] 

[            ], 2012 

 

	
	 To the Lenders party to the Credit Agreement
referred to below and BNP Paribas
as Administrative Agent

 Ladies and Gentlemen: 
 We have acted as special New York counsel to BNP Paribas in connection with the Credit Agreement (the “Credit Agreement”) dated as of
[                    ], 2012, between Foster Wheeler LLC, Foster Wheeler Inc., Foster Wheeler USA Corporation, Foster Wheeler North America Corp.,
Foster Wheeler Energy Corporation and Foster Wheeler International Corporation (each a “Borrower” and, collectively, the “Borrowers”), Foster Wheeler AG (the “Parent”), Foster Wheeler Ltd.
(“FWL”), Foster Wheeler Holdings Ltd. (“Holdco”), the Subsidiary Guarantors named therein (collectively, the “Subsidiary Guarantors” and, together with the Borrowers, the Parent, FWL, Holdco and the
Subsidiary Guarantors, the “Obligors”), the lenders named therein and BNP Paribas, as Administrative Agent. All capitalized terms used but not defined herein have the respective meanings given to such terms in the Credit Agreement.
This opinion is being delivered pursuant to Section 6.01(c) of the Credit Agreement. 
 In rendering the opinions expressed
below, we have examined an executed counterpart of the Credit Agreement. In our examination, we have assumed the genuineness of all signatures, the authenticity of all documents submitted to us as originals and the conformity with authentic original
documents of all documents submitted to us as copies. When relevant facts were not independently established, we have relied upon representations made in or pursuant to the Credit Agreement. In addition, we have assumed that all authorizations,
approvals or consents of (including without limitation all foreign exchange control approvals), and all filings or registrations with, any governmental or regulatory authority or agency of each jurisdiction in which an Obligor is organized or does
business) required for the making and performance by such Obligor of the Credit Agreement have been obtained or made and are in effect. 
 In rendering the opinions expressed below, we have assumed, with respect to all of the documents referred to in this opinion letter, that (except, to the extent set forth in the opinions expressed below,
as to the Obligors): 
 (i) the Credit Agreement has been duly authorized by, has been duly executed and
delivered by, and constitutes legal, valid, binding and enforceable obligations of, all of the parties to such documents; 

 (ii) all signatories to the Credit Agreement have been duly authorized; and

 (iii) all of the parties to the Credit Agreement are duly organized and validly existing and have the power
and authority (corporate or other) to execute, deliver and perform such documents. 
 Based upon and subject to the foregoing
and subject also to the comments and qualifications set forth below, and having considered such questions of law as we have deemed necessary as a basis for the opinions expressed below, we are of the opinion that the Credit Agreement constitutes the
legal, valid and binding obligation of each Obligor, enforceable against such Obligor in accordance with its terms, except as may be limited by bankruptcy, insolvency, reorganization, fraudulent conveyance or transfer, moratorium or other similar
laws relating to or affecting the rights of creditors generally, and to the possible judicial application of foreign laws or governmental action affecting the rights of creditors generally, and except as the enforceability of the Credit Agreement is
subject to the application of general principles of equity (regardless of whether considered in a proceeding in equity or at law), including without limitation (a) the possible unavailability of specific performance, injunctive relief or any
other equitable remedy and (b) concepts of materiality, reasonableness, good faith and fair dealing. 
 The foregoing
opinions are subject to the following comments and qualifications: 
 (A) The enforceability of provisions in the
Credit Agreement to the effect that terms may not be waived or modified except in writing may be limited under certain circumstances. 
 (B) The enforceability of Section 11.03 of the Credit Agreement may be limited by laws limiting the enforceability of provisions exculpating or exempting a party from, or requiring indemnification of
a party for, liability for its own action or inaction, to the extent the action or inaction involves gross negligence, recklessness, wilful misconduct or unlawful conduct. 

(C) We express no opinion as to (i) the effect of the laws of any jurisdiction in which any Lender is located (other
than the State of New York) that limit the interest, fees or other charges such Lender may impose for the loan or use of money or other credit, (ii) the last sentence of Section 2.17(c) of the Credit Agreement, (iii) Section 4.06
or 4.09 of the Credit Agreement, (iv) Section 11.12 of the Credit Agreement, (v) the first sentence of Section 11.13(b) of the Credit Agreement, insofar as such sentence relates to the

 
subject matter jurisdiction of the United States District Court for the Southern District of New York to adjudicate any controversy related to the Credit Agreement, (vi) the waiver of
inconvenient forum set forth in Section 11.13 of the Credit Agreement with respect to proceedings in the United States District Court for the Southern District of New York, (vii) Section 11.15 of the Credit Agreement or
(viii) the waiver of sovereign immunity set forth in Section 11.16 of the Credit Agreement to the extent it relates to immunity acquired after the date of execution and delivery of the Credit Agreement. 

(D) Clauses (i) and (iii) of Section 4.02 of the Credit Agreement may not be enforceable to the extent that
the Guaranteed Obligations as defined therein are materially modified. 
 (E) We express no opinion as to the
applicability to the obligations of any Guarantor of (or the enforceability of such obligations under) Section 548 of the Bankruptcy Code, Article 10 of the New York Debtor and Creditor Law or any other provision of law relating to fraudulent
conveyances, transfers or obligations, or the provisions of the law of the jurisdiction of organization of any Guarantor restricting dividends, loans or other distributions by a corporation for the benefit of its equityholders. 

(F) The opinions expressed herein as of the date hereof, and except as may otherwise be provided herein, we have no
obligation to advise you as to any change in the matters, factual, legal or otherwise, set forth herein after the date of this letter. 
 The foregoing opinions are limited to matters involving the Federal laws of the United States and the law of the State of New York, and we do not express any opinion as to the law of any other
jurisdiction. 
 This opinion letter is provided to you by us as special New York counsel to BNP Paribas pursuant to
Section 6.01(c) of the Credit Agreement and may not be relied upon by any other Person or for any purpose other than in connection with the transactions contemplated by the Credit Agreement without, in each instance, our prior written consent.

 Very truly yours, 
 RMG/MJB 

 EXHIBIT D 
 [Form of Joinder Agreement] 
 JOINDER AGREEMENT 

JOINDER AGREEMENT dated as of
                     (this “Agreement”), by
                    , a                      (the
“Additional Subsidiary Guarantor”), in favor of BNP Paribas as administrative agent for the Lenders party to the Credit Agreement referred to below (in such capacity, together with its successors in such capacity, the
“Administrative Agent”). 
 Foster Wheeler LLC, Foster Wheeler Inc., Foster Wheeler USA Corporation, Foster
Wheeler North America Corp., Foster Wheeler Energy Corporation and Foster Wheeler International Corporation (each a “Borrower” and, collectively, the “Borrowers”), Foster Wheeler AG (the “Parent”),
Foster Wheeler Ltd. (“FWL”), Foster Wheeler Holdings Ltd. (“Holdco”), the Subsidiary Guarantors party thereto (collectively, the “Existing Subsidiary Guarantors” and, together with the Borrowers,
the Parent, FWL and Holdco, the “Existing Obligors”), the lenders party thereto and BNP Paribas as Administrative Agent are parties to a Credit Agreement dated as of August 3, 2012 (as amended, amended and restated, modified
and supplemented and in effect from time to time, the “Credit Agreement”), providing, subject to the terms and conditions thereof, for extensions of credit (by means of loans and letters of credit) to be made by the Lenders named
therein to the Borrowers in an aggregate principal or face amount not exceeding $750,000,000 (which, in the circumstances contemplated therein, may be increased to $1,050,000,000). In addition, the Borrowers may from time to time be obligated to one
or more of the Lenders under the Credit Agreement in respect of Hedging Agreements and/or cash management arrangements under and as defined in the Credit Agreement. 
 As contemplated by Section 7.10 of the Credit Agreement, to induce the Lenders to enter into the Credit Agreement, and to extend credit thereunder and to extend credit to the Borrowers under Hedging
Agreements and/or cash management arrangements, and for other good and valuable consideration the receipt and sufficiency of which are hereby acknowledged, the Additional Subsidiary Guarantor has agreed to become a party to the Credit Agreement as a
Subsidiary Guarantor thereunder. 
 Accordingly, the parties hereto agree as follows: 

Section 1. Definitions. Terms defined in the Credit Agreement are used herein as defined therein. 

Section 2. Joinder to Agreement. Effective upon the execution and delivery hereof, the Additional Subsidiary Guarantor hereby
agrees that it shall become a Subsidiary Guarantor under and for all purposes of the Credit Agreement. Without limiting the generality of the foregoing, the Additional Subsidiary Guarantor hereby: 

(i) jointly and severally with the other Subsidiary Guarantors party to the Credit Agreement guarantees to each Lender
(and each Affiliate thereof party to any Hedging Agreement or holding any Cash Management Obligations), each Issuing Lender and the Administrative Agent and their respective successors and assigns the prompt payment in full when due (whether at
stated maturity, by acceleration or otherwise) of all Guaranteed Obligations in the same manner and to the same extent as is provided in Article IV of the Credit Agreement; 

  
 - 1 -

 (ii) represents and warrants that each of the representations and warranties
set forth in Article V of the Credit Agreement that are applicable to the Additional Subsidiary Guarantor is true and correct both before and after giving effect to this Agreement as if each reference in said provision of the Credit Agreement
included reference to this Agreement (or, if any such representation or warranty is expressly stated to be made as of a specific date, such representation or warranty is true and correct as of such specific date); and 

(iii) submits to the jurisdiction of the courts, and waives jury trial, as provided in Sections 11.13 and 11.14 of
the Credit Agreement. 
 The Additional Subsidiary Guarantor hereby instructs its counsel to deliver the opinions referred to in
Section 7.10(a)(ii) of the Credit Agreement to the Administrative Agent. 
 The terms of this Agreement may be waived,
amended or modified only in accordance with the requirements of Section 11.02 of the Credit Agreement applicable to waivers, amendments or modifications thereunder. Any notice or other communication herein required or permitted to be given
shall be given in accordance with the requirements of Section 11.01 of the Credit Agreement. If any provision hereof is invalid and unenforceable in any jurisdiction, then, to the fullest extent permitted by law, (a) the other provisions
hereof shall remain in full force and effect in such jurisdiction and shall be liberally construed in favor of the Lenders in order to carry out the intentions of the parties hereto as nearly as may be possible and (b) the invalidity or
unenforceability of any provision hereof in any jurisdiction shall not affect the validity or enforceability of such provision in any other jurisdiction. 
 This Agreement shall be construed in accordance with and governed by the laws of the State of New York. 

  
 - 2 -

 IN WITNESS WHEREOF, the Additional Subsidiary Guarantor has caused this Agreement to be duly
executed and delivered as of the day and year first above written. 
  

			
	[ADDITIONAL SUBSIDIARY GUARANTOR]
		
	By:	 	  

		 	Name:
		 	Title:

  

			
	Accepted and agreed:
	
	 BNP PARIBAS
as Administrative Agent

		
	By:	 	  

		 	Name:
		 	Title:

  
 - 3 -

 EXHIBIT E 
 SOLVENCY CERTIFICATE 
 I, Franco Baseotto, a Financial Officer of Foster
Wheeler AG ( “Parent”), in such capacity in and not in any individual capacity, DO HEREBY CERTIFY on behalf of Parent that: 
 (a) This Certificate is being executed in connection with the Credit Agreement, dated as of August 3, 2012 (the “Credit Agreement”), between Foster Wheeler LLC, Foster Wheeler Inc.,
Foster Wheeler USA Corporation, Foster Wheeler North America Corp., Foster Wheeler Energy Corporation and Foster Wheeler International Corporation (each a “Borrower” and, collectively, the “Borrowers”), Foster
Wheeler Holdings Ltd. (“Holdco”), Foster Wheeler Ltd. (“FWL”), Parent, the Subsidiary Guarantors party thereto (together with the Borrowers, Holdco, FWL and the Parent, the “Loan Parties”), the
Lenders party thereto, and BNP Paribas, as Administrative Agent. Terms defined in the Credit Agreement are used herein as defined therein. 
 (b) As to the matters herein below set forth, I have personal knowledge and I make this certification pursuant to Section 6.01(k) of the Credit Agreement with the acknowledgement that this
certification will be relied upon by the Lenders and Administrative Agent as a basis for the consummation of the transactions contemplated by the Credit Agreement to occur on the Effective Date. 

(c) On the date hereof, after giving effect to the Transactions to occur on the Effective Date, the Loan Parties, taken as
a whole, are Solvent (as defined below). 
 For purposes hereof, “Solvent” shall mean, with respect to
the Loan Parties, taken as a whole, on the Effective Date that: 
 (i) the aggregate amount of the Loan
Parties’ total liabilities, (including subordinated and contingent liabilities, as determined in accordance with GAAP) is not greater than the aggregate fair value of the Loan Parties’ assets, 

(ii) the Loan Parties are not engaged in a business for which their assets would constitute an unreasonably small capital,
and 
 (iii) the Loan Parties have not incurred, and do not intend to incur, debts beyond their ability to pay as
such debts mature. 

 WITNESS my hand this [    ] day of
[                    ], 2012 
  

			
	  

	Name:	 	Franco Baseotto
	Title:	 	Executive Vice President, Chief Financial Officer and Treasurer of Foster Wheeler AG

 EXHIBIT F 
 FORM OF NOTICE DESIGNATING 
 EXISTING LETTERS OF CREDIT 

BNP Paribas 
 787 Seventh Avenue 

New York, New York 10019 

[            ], 2012 

Reference is made to the Credit Agreement dated as of August 3, 2012 (the “Credit Agreement”), between Foster
Wheeler LLC, Foster Wheeler Inc., Foster Wheeler USA Corporation, Foster Wheeler North America Corp., Foster Wheeler Energy Corporation and Foster Wheeler International Corporation (each a “Borrower” and, collectively, the
“Borrowers”), Foster Wheeler AG (the “Parent”), Foster Wheeler Ltd. (“FWL”), Foster Wheeler Holdings Ltd. (“Holdco”), the Subsidiary Guarantors party thereto (the “Subsidiary
Guarantors”), the Lenders party thereto (the “Lenders”) and BNP Paribas as administrative agent (in such capacity, the “Administrative Agent”). 

Capitalized terms defined in the Credit Agreement and not otherwise defined herein are used herein as defined therein. 

The undersigned hereby advises you, pursuant to Section 2.05(j) of the Credit Agreement, that as of the Effective Date the letters
of credit set forth in Schedule 1 attached hereto shall be deemed Letters of Credit under the Credit Agreement. 
  

			
	Very truly yours,
	
	FOSTER WHEELER LLC
		
	By:	 	  

	Name:	 	
	Title:	 	

 Schedule 1 

 EXHIBIT G-1 
 FORM OF U.S. TAX COMPLIANCE CERTIFICATE 
 (For Foreign Lenders That Are Not
Partnerships For U.S. Federal Income Tax Purposes) 
 Reference is hereby made to the Credit Agreement dated as of
August 3, 2012 (the “Credit Agreement”), among Foster Wheeler LLC, Foster Wheeler Inc., Foster Wheeler USA Corporation, Foster Wheeler North America Corp., Foster Wheeler Energy Corporation and Foster Wheeler International Corporation
(each a “Borrower” and, collectively, the “Borrowers”), Foster Wheeler Holdings Ltd. (“Holdco”), Foster Wheeler AG (“Parent”), Foster Wheeler Ltd. (“FWL”), the Subsidiary Guarantors party thereto,
the Lenders party thereto, and BNP Paribas, as Administrative Agent. 
 Pursuant to the provisions of Section 11.04 of the
Credit Agreement, the undersigned hereby certifies that (i) it is the sole record and beneficial owner of the Loan(s) (as well as any note(s) evidencing such Loan(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 ten-percent shareholder of any Borrower within the meaning of Section 881(c)(3)(B) of the Code, (iv) it is not a controlled foreign corporation
related to any Borrower as described in Section 881(c)(3)(C) of the Code and (v) interest payments on the Loan(s) are not effectively connected with the conduct of a trade or business within the United States of the undersigned.

 The undersigned has furnished the Administrative Agent and the Company with a certificate of its non-United States person
status on IRS Form W-8BEN. By executing this certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall promptly so inform the Company and the Administrative Agent, and
(2) the undersigned shall have at all times furnished the Company and the Administrative Agent 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 two calendar years preceding such payments. 
 Unless otherwise defined herein, terms defined in the Credit
Agreement and used herein shall have the meanings given to them in the Credit Agreement. 
  

			
	[NAME OF LENDER]
		
	By:	 	  

		 	Name:
		 	Title:

 Date:                  ,
20[    ] 

 EXHIBIT G-2 
 FORM OF U.S. TAX COMPLIANCE CERTIFICATE 
 (For Foreign Participants That Are
Not Partnerships For U.S. Federal Income Tax Purposes) 
 Reference is hereby made to the Credit Agreement dated as of
August 3, 2012 (the “Credit Agreement”), among Foster Wheeler LLC, Foster Wheeler Inc., Foster Wheeler USA Corporation, Foster Wheeler North America Corp., Foster Wheeler Energy Corporation and Foster Wheeler International Corporation
(each a “Borrower” and, collectively, the “Borrowers”), Foster Wheeler Holdings Ltd. (“Holdco”), Foster Wheeler AG (“Parent”), Foster Wheeler Ltd. (“FWL”), the Subsidiary Guarantors party thereto,
the Lenders party thereto, and BNP Paribas, as Administrative Agent. 
 Pursuant to the provisions of Section 11.04 of the
Credit Agreement, the undersigned hereby certifies that (i) it is the sole record and beneficial owner of the participation 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 ten-percent shareholder of any Borrower within the meaning of Section 881(c)(3)(B) of the Code, (iv) it is not a controlled foreign corporation related to any Borrower as
described in Section 881(c)(3)(C) of the Code, and (v) interest payments on the Loan(s) are not effectively connected with the conduct of a trade or business within the United States of the undersigned. 

The undersigned has furnished its participating Lender with a certificate of its non-United States person status on IRS Form W-8BEN. By
executing this certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall promptly so inform such Lender in writing, and (2) the undersigned shall have at all times furnished
such Lender 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 two calendar years preceding such payments. 

Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the
Credit Agreement. 
  

			
	[NAME OF PARTICIPANT]
		
	By:	 	  

		 	Name:
		 	Title:

 Date:                  ,
20[    ] 

 EXHIBIT G-3 
 FORM OF U.S. TAX COMPLIANCE CERTIFICATE 
 (For Foreign Participants That Are
Partnerships For U.S. Federal Income Tax Purposes) 
 Reference is hereby made to the Credit Agreement dated as of
August 3, 2012 (the “Credit Agreement”), among Foster Wheeler LLC, Foster Wheeler Inc., Foster Wheeler USA Corporation, Foster Wheeler North America Corp., Foster Wheeler Energy Corporation and Foster Wheeler International Corporation
(each a “Borrower” and, collectively, the “Borrowers”), Foster Wheeler Holdings Ltd. (“Holdco”), Foster Wheeler AG (“Parent”), Foster Wheeler Ltd. (“FWL”), the Subsidiary Guarantors party thereto,
the Lenders party thereto, and BNP Paribas, as Administrative Agent. 
 Pursuant to the provisions of Section 11.04 of the
Credit Agreement, the undersigned hereby certifies that (i) it is the sole record owner of the participation in respect of which it is providing this certificate, (ii) its direct or indirect partners/members are the sole beneficial owners
of such participation, (iii) with respect to such participation, neither the undersigned nor any of its direct or indirect partners/members that is claiming the portfolio interest exemption 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 that is claiming the portfolio interest exemption is a
ten-percent shareholder of any Borrower within the meaning of Section 881(c)(3)(B) of the Code, (v) none of its direct or indirect partners/members that is claiming the portfolio interest exemption is a controlled foreign corporation
related to any Borrower as described in Section 881(c)(3)(C) of the Code, and (vi) interest payments on the Loan(s) are not effectively connected with the conduct of a trade or business within the United States of the undersigned or of any
of its direct or indirect partners/members that is claiming the portfolio interest exemption. 
 The undersigned has furnished
its participating Lender 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 (ii) an IRS Form W-8IMY accompanied by
an IRS Form W-8BEN 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 such Lender and (2) the undersigned shall have at all times furnished such Lender 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 two calendar years preceding such payments. 
 Unless
otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit Agreement. 
  

			
	[NAME OF PARTICIPANT]
		
	By:	 	  

		 	Name:
		 	Title:

 Date:                  ,
20[    ] 

 EXHIBIT G-4 
 FORM OF U.S. TAX COMPLIANCE CERTIFICATE 
 (For Foreign Lenders That Are
Partnerships For U.S. Federal Income Tax Purposes) 
 Reference is hereby made to the Credit Agreement dated as of
August 3, 2012 (the “Credit Agreement”), among Foster Wheeler LLC, Foster Wheeler Inc., Foster Wheeler USA Corporation, Foster Wheeler North America Corp., Foster Wheeler Energy Corporation and Foster Wheeler International Corporation
(each a “Borrower” and, collectively, the “Borrowers”), Foster Wheeler Holdings Ltd. (“Holdco”), Foster Wheeler AG (“Parent”), Foster Wheeler Ltd. (“FWL”), the Subsidiary Guarantors party thereto,
the Lenders party thereto, and BNP Paribas, as Administrative Agent. 
 Pursuant to the provisions of Section 11.04 of the
Credit Agreement, the undersigned hereby certifies that (i) it is the sole record owner of the Loan(s) (as well as any note(s) evidencing such Loan(s)) in respect of which it is providing this certificate, (ii) its direct or indirect
partners/members are the sole beneficial owners of such Loan(s) (as well as any note(s) evidencing such Loan(s)), (iii) with respect to the extension of credit pursuant to the Credit Agreement or any other Loan Document, neither the undersigned
nor any of its direct or indirect partners/members that is claiming the portfolio interest exemption 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 that is claiming the portfolio interest exemption is a ten-percent shareholder of any Borrower within the meaning of Section 881(c)(3)(B) of the
Code, (v) none of its direct or indirect partners/members that is claiming the portfolio interest exemption is a controlled foreign corporation related to any Borrower as described in Section 881(c)(3)(C) of the Code, and
(vi) interest payments on the Loan(s) are not effectively connected with the conduct of a trade or business within the United States of the undersigned or of any of its direct or indirect partners/members that is claiming the portfolio interest
exemption. 
 The undersigned has furnished the Administrative Agent and the Company 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 (ii) an IRS Form W-8IMY accompanied by an IRS Form W-8BEN 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 Company
and the Administrative Agent, and (2) the undersigned shall have at all times furnished the Company and the Administrative Agent 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 two calendar years preceding such payments. 
 Unless otherwise defined
herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit Agreement. 
  

			
	[NAME OF LENDER]
		
	By:	 	  

		 	Name:
		 	Title:

 Date:                  ,
20[    ] 

 EXHIBIT H 

SUBORDINATION TERMS FOR INTERCOMPANY NOTE1 
 Credit Agreement: the Credit Agreement, dated as of [                    ], 2012 (as from
time to time amended, amended and restated, supplemented, modified, refinanced, refunded, renewed, extended or replaced (including pursuant to one or more new credit agreements, the “Credit Agreement”)) between FOSTER WHEELER
LLC, FOSTER WHEELER INC., FOSTER WHEELER USA CORPORATION, FOSTER WHEELER NORTH AMERICA CORP., FOSTER WHEELER ENERGY CORPORATION and FOSTER WHEELER INTERNATIONAL CORPORATION (each a “Borrower” and, collectively, the
“Borrowers”), FOSTER WHEELER AG (the “Parent”), FOSTER WHEELER LTD. (“FWL”), FOSTER WHEELER HOLDINGS LTD. (“Holdco”), the Subsidiary Guarantors (as
defined therein), and BNP PARIBAS, as administrative agent for the lenders or other financial institutions or entities party, as lenders, to the Credit Agreement (in such capacity, together with its successors in such capacity, the
“Administrative Agent”). 
 Subordination Agreement: the Subordination Agreement, dated as
of [                    ], 2012 (as amended, amended and restated, supplemented or otherwise modified from time to time, the
“Subordination Agreement”) between the Borrowers, the Parent, FWL, Holdco, the Subsidiaries (as defined therein), and the Administrative Agent. 
  

	 	Section 1.	Definitions 

 Terms
defined in the Credit Agreement are used herein as defined therein. In addition, as used herein: 

“Senior Debt” shall mean, collectively, the following indebtedness and obligations: 

(a) all indebtedness or other obligations of the Company under the Credit Agreement and the other Loan Documents,
including all interest, expenses, indemnities and penalties and all commitment and agency fees payable from time to time under the Credit Agreement and the other Loan Documents; 

(b) all Hedging Indebtedness; 
 (c) all Cash Management Obligations; and 
 (d) any deferrals,
renewals, extensions or refinancings of any of the foregoing. 
 The term “Senior Debt” shall include any interest, and
any expenses of the type described in Section 11.03 of the Credit Agreement (or comparable provisions of any other Loan 

 

	1 	 Assumes that “the Company” and “Holder” are the defined terms for the payor and payee respectively.

 
Document), accruing or arising after the date of any filing by the Company of any petition in bankruptcy or the commencing of any bankruptcy, insolvency or similar proceedings with respect to the
Company, whether or not such interest or expenses are allowable as a claim in any such proceeding. 
 “Subordinated Debt” shall mean all indebtedness in respect of advances, loans and other extensions of credit or financial accommodations made from time to time by the Holder to the
Company under this Intercompany Note[; provided that the definition of “Subordinated Debt” shall be limited to (i) such indebtedness existing on the date of this Intercompany Note; and (ii) such indebtedness arising after the
date of this Intercompany Note as shall be designated by the Holder, at the time such indebtedness arises, as indebtedness forming part of the “Subordinated Debt” under this Intercompany Note and notified to the Administrative Agent in
writing accordance with Section 4.02 of the Subordination Agreement.]2 

 

	 	Section 2.	Subordination 

Section 2.01. Subordination of Subordinated Debt. The Holder, for itself and its successors and assigns, covenants and
agrees, that, to the extent and in the manner set forth in this Intercompany Note, the Subordinated Debt and the payment from whatever source of the principal of, and interest and premium (if any) on, the Subordinated Debt, are hereby expressly made
subordinate and subject in right of payment to the prior payment in full in cash of all Senior Debt and in that connection hereby agree that, except and to the extent permitted under Section 2.03 hereof, (a) no payment on account of the
Subordinated Debt or any judgment with respect thereto shall be made by or on behalf the Company and (b) the Holder shall not (i) ask, demand, sue for, take or receive from the Company, by set-off or in any other manner payment on account
of the Subordinated Debt, or (ii) seek any other remedy allowed at law or in equity against the Company for breach of the Company’s obligations under the instruments representing such Subordinated Debt (each of the actions described in
clause (b), an “Enforcement Action”). 
 In the event that, notwithstanding the foregoing provisions of
this Section 2.01, the Holder shall have received any payment not permitted by the provisions of Section 2.03 hereof, including, without limitation, any such payment arising out of the exercise by the Holder of a right of set-off or
counterclaim and any such payment received by reason of other indebtedness of the Company being subordinated to the Subordinated Debt, then, and in any such event, such payment shall be held in trust for the benefit of, and shall be immediately paid
over or delivered to the Administrative Agent for distribution in accordance with Section 2.01 of the Subordination Agreement. 
 Section 2.02. Payment of Proceeds Upon Dissolution. In the event of (a) any insolvency or bankruptcy case or proceeding, or any receivership, liquidation, reorganization or other similar
case or proceeding in connection therewith, relative to the Company or to its creditors, as such, or to its assets, or (b) any liquidation, dissolution or other winding up of the Company, whether voluntary or involuntary and whether or not
involving insolvency or bankruptcy, or (c) any assignment for the benefit of creditors or any other marshalling of assets and liabilities of the Company, then and in any such event: 

(1) the Lenders shall be entitled to receive payment in full in cash of all amounts due or to become due on or in respect of all Senior
Debt, or provision shall be made for such payment, before the Holder shall be entitled to receive any payment on account of principal of, or interest or premium (if any) on, the Subordinated Debt; 

 

	2 	To be added to the extent the Holder is an entity organized under the laws of Finland. 

 (2) any payment or distribution of assets of the Company of any kind or character, whether
in cash, property or securities, by set-off or otherwise, to which the Holder would be entitled but for the provisions of this Intercompany Note, including any such payment or distribution that may be payable or deliverable by reason of the payment
of any other indebtedness of the Company being subordinated to the payment of the Subordinated Debt, shall be paid by the liquidating trustee or agent or other Person making such payment or distribution, whether a trustee in bankruptcy, a receiver
or liquidating trustee or otherwise, directly to the Administrative Agent for distribution in accordance with Section 2.02(2) of the Subordination Agreement; and 
 (3) in the event that, notwithstanding the foregoing provisions of this Section 2.02, the Company shall have received, before all Senior Debt is paid in full in cash or payment thereof provided for,
any such payment or distribution of assets of the Company of any kind or character, whether in cash, property or securities, including any such payment or distribution arising out of the exercise by the Holder of a right of set-off or counterclaim
and any such payment or distribution received by reason of any other indebtedness of the Company being subordinated to the Subordinated Debt, then, and in such event, such payment or distribution shall be held in trust for the benefit of, and shall
be immediately paid over or delivered to the Administrative Agent for distribution in accordance with Section 2.02(3) of the Subordination Agreement; and 
 (4) if the Holder shall have failed to file claims or proofs of claim with respect to the Subordinated Debt earlier than 30 days prior to the deadline for any such filing, the Holder and the Company
hereby irrevocably authorize the Administrative Agent to vote and file proofs of claim and otherwise to act with respect to the Subordinated Debt as the Administrative Agent may deem appropriate in its reasonable discretion. 

Section 2.03. Certain Payments Permitted. Notwithstanding the foregoing, the Holder shall be entitled to receive and retain
any payment in respect of Subordinated Debt and to undertake or prosecute any Enforcement Action if (i) none of the Loans shall have been declared to be due and payable (or cash collateral for LC Exposure shall have been demanded) pursuant to
the last paragraph of Article IX of the Credit Agreement or (ii) all Senior Debt shall have been paid in full, all of the Commitments have expired or been terminated, all Letters of Credit shall have expired or terminated or shall have been
defeased and all LC Disbursements outstanding at such time shall have been reimbursed. 

 Section 2.04. Subrogation. Subject to the payment in full in cash of all Senior
Debt, the Holder shall be subrogated (equally and ratably with the holders of all indebtedness of the Company that by its express terms is subordinated to Senior Debt of the Company to the same extent as the Subordinated Debt is subordinated and
that is entitled to like rights of subrogation) to the rights of the Lenders to receive payments and distributions of cash, property and securities applicable to the Senior Debt until the principal of, and interest and premium (if any) on, the
Senior Debt shall be paid in full in cash. For purposes of such subrogation, no payments or distributions to the Lenders of any cash, property or securities to which the Holder would be entitled except for the provisions of this Section 2, and
no payments over pursuant to the provisions of this Section 2 to the Lenders by the Holder, shall, as between the Holder, its creditors other than the Lenders, and Company, be deemed to be a payment or distribution by the Company to or on
account of the Senior Debt. 
 Section 2.05. Provisions Solely to Define Relative Rights. The provisions of this
Section 2 are and are intended solely for the purpose of defining the relative rights of the Holder on the one hand and the Lenders on the other hand. Nothing contained in this Section 2 or elsewhere in this Intercompany Note is intended
to or shall: 
 (a) impair, as among the Company, its creditors other than the Lenders and the Holder, the
obligation of the Company to pay to the Holder the principal of and interest on the Subordinated Debt as and when the same shall become due and payable in accordance with its terms; or 

(b) affect the relative rights against the Company of the Holder and creditors of the Company other than the Lenders.

 Section 2.06. No Waiver of Subordination Provisions. No right of the Administrative Agent or any Lender to
enforce subordination as provided hereunder and/or under the Subordination Agreement shall at any time in any way be prejudiced or impaired by any act or failure to act on the part of the Company or by any act or failure to act, in good faith, by
the Administrative Agent or any Lender, or by any non-compliance by the Company with the terms, provisions and covenants of the Subordination Agreement, regardless of any knowledge thereof the Administrative Agent or any Lender may have or be
otherwise charged with. 
 Without in any way limiting the generality of the foregoing paragraph, the Holder and the Company
hereby agree that the Lenders may, at any time and from time to time, without the consent of or notice to the Holder, without incurring responsibility to the Holder and without impairing or releasing the subordination provided in this Section 2
or the obligations thereunder of the Holder to the holders of Senior Debt, do any one or more of the following in accordance with the terms of the Credit Agreement: (a) change the time, manner or place of payment of Senior Debt, or otherwise
modify or supplement in any respect any of the provisions of the Credit Agreement or any other instrument evidencing or relating to any of the Senior Debt; (b) release any Person liable in any manner for the collection of Senior Debt; and
(c) exercise or refrain from exercising any rights against the Company and any other Person.

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